Robertson Quay condominium Riverside 48 saw a bulk purchase of 33 units on Sept 2 at an average price of $1,520 psf, based on URA Realis data from Aug 30 to Sept 6. The 33 units transacted are one-bedroom apartments, with sizes ranging from 689 to 904 sq ft. The buyers paid $1.03 million to $1.39 million for each unit. Ban Hin Leong was the developer of the project, which was launched in September 1997 and...
singapore property market
On the eve of the public preview of the 297-unit Optima @ Tanah Merah two years ago, a queue had already formed outside the showflat. All the units were snapped up within three days at an average price of $810 psf, according to a press release by TID, a joint venture between Mitsui Fudosan and Hong Leong Group. The attraction was its location right next to the Tanah Merah MRT station. At that time, the...
Landed home prices in Singapore grew at a faster pace than those of non-landed homes in the third quarter of this year, according to DTZ Research. Average resale prices of leasehold landed homes in non-prime districts grew 3.8 percent quarter-on-quarter in Q3, while average resale prices of freehold landed homes in the prime districts of 9, 10 and 11 increased by 2.8 percent quarter-on-quarter. In the...
A recent tender for a residential site in Pasir Ris site drew unexpectedly strong interest, with a news report saying 13 developers slugged it out in a close fight. The top bid was a mere 1.6 per cent above the next highest one. The report was wrong in one respect. While there were 13 bids, there were altogether 20 developers involved - some in joint bids. Analysts who are surprised by the keen interest...
Location, location and location is the mantra for anyone looking to buy a property. And traditionally, homes in the right neighbourhoods have always maintained their values better. According to Cushman and Wakefield, median prices of high-end homes have dipped just five percent from the peak of 2008's prices to between S$3,400 and S$3,500 per square foot. The lower-end markets, however, are still down by...
Property watchers said a shortage of resale flats amidst strong demand is accelerating price growth. While some said more time is needed for new flats to be built, others think it is time to review the property cooling measures. Resale flat prices, which are already at an all-time high, rose 3.8 per cent in the third quarter this year - higher than the 3.1 per cent recorded in the second quarter. Since...
The property market in Singapore has continued to defy expectations even as global economic prospects darkened, with prices for resale Housing and Development Board (HDB) flats as well as private homes hitting new highs in the third quarter. According to preliminary estimates from the HDB yesterday, the resale price index increased by 3.8 per cent from the previous quarter, after rising 3.1 per cent in...
The private home market may have continued to enjoy robust turnover in the third quarter of this year but the prices of luxury apartments appear to have peaked. According to a report by property consultancy Savills, the average per sq ft price for non-landed high-end private homes dipped 2 per cent to S$2,243 for the first two months of the third quarter from S$2,286 in the second quarter of this year. In...
Flash estimates on property prices show that buyers are willing to pay more for HDB resale flats while those purchasing private property are showing caution. HDB's flash estimate of the 3rd Quarter 2011 Resale Price Index (RPI) climbed 3.8 per cent in the third quarter compared to the 3.1 per cent rise seen in the second quarter. In the first three months of the year, the rise was 1.6 per cent. The rise...
Flash estimate of the private residential property index for the third quarter 2011 shows that the rate of increase in private residential property prices continues to moderate for the eighth consecutive quarter since the fourth quarter 2009. According to flash estimates from the Urban Redevelopment Authority (URA), the private residential property index rose from 203.0 points in the second quarter 2011...