Chinese nationals have again emerged as the top non-Singaporean buyers of private homes in the second quarter, acquiring 640 homes in Q2, up 26 percent from 527 units in Q1 2011. According to a new report from DTZ, the proportion of acquisitions made by non-Singaporeans in the second quarter was similar to the 16 percent recorded in the previous quarter. “In absolute terms, foreign purchases were 1,327...
singapore property market
More HDB flats may be on the way but upgraders are increasingly turning to the private property market. According to a report by DTZ Research, there is a rising trend of transactions made by purchasers with public housing (HDB) addresses. These buyers bought about 39 per cent of all private residential homes in Q2 2011, higher than the 37 per cent registered in Q1 2011 and the 34.6 per cent in Q4...
Kwek Leng Beng, Executive Chairman of City Developments Limited (CDL), expects property price trends in Singapore to change soon. According to Kwek, in a span of six months, property developers will likely reduce launch prices of private housing projects not situated near MRT stations by approximately five percent, if they wish to increase the number of transactions amid the presence of more cautious...
Singapore private home sales jumped 17 per cent in July from the previous month, to 1,386 units. The Urban Redevelopment Authority (URA) said suburban area sales accounted for 754 units, or 54 per cent of the total sold. The city fringe accounted for 510 units, or 37 per cent, while nine per cent of those sold were central area units. Including Executive Condominiums (ECs), the total sales in July would...
The 509-unit condominium River Place located at Havelock Road has long been a favourite among property investors and expatriate families largely because of its location — just at the edge of the CBD and overlooking the Singapore River, say property agents. It’s also within walking distance to the nightspots in the Mohamad Sultan neighbourhood, Robertson Quay, Boat Quay and Clarke Quay, as well as the...
Somehow, deep down, we - especially those of us who have been keeping a close watch on the private housing market - know that an external crisis or crises, like the ones ravaging global stock markets now, were going to happen way ahead of the "perfect storm" some had forecast for 2013/2014 for the property sector here. I am talking about the repercussions arising from the strong possibility of the United...
Global stock markets have swung wildly in the past two weeks or so, since United States lawmakers decided at the eleventh hour to raise the debt ceiling on Aug 2. On Aug 5, Standard & Poor's downgraded the US credit rating from AAA to AA+ and, on Aug 8, it followed with a downgrade of mortgage lenders Fannie Mae and Freddie Mac as well as other agencies linked to long-term US debt. Adding fuel to the...
Outside the prime districts of 9, 10 and 11, the East Coast area (Districts 15 and 16) has traditionally been a draw for expatriates. In the last two years, the area has proven to be especially popular with mainland Chinese and Indian nationals, says Wendy Tang, director of residential services at Knight Frank. “Those who are permanent residents tend to buy for their own occupation, while non-PRs are...
New project launches are expected to slow down as developers hold off launching projects over the next few weeks. The traditionally inauspicious Hungry Ghost Festival could be one reason, but analysts say uncertainty over global economic issues could be a more of a concern. According to The Straits Times, several developers confirmed that they are not planning to launch any new projects this month, but...
Singapore property prices may continue climbing this year, contrary to a widely expected downturn, according to results of a survey by online portal PropertyGuru.com.sg. Most respondents said property in Singapore will remain expensive, and they are setting their sights on alternatives like commercial property and real estate investments overseas, the survey showed. Rising property prices are pushing...