Standing at 43 storeys, the 312-unit The Clift residential tower stands out on the corner of McCallum Street and Telok Ayer Street. It is taller than every other building in its immediate neighbourhood, which comprises mainly conservation shophouses and older office buildings. Developed by property giant, Far East Organization (FEO), the project was completed in 1Q2011. The ground floor shop units have...
singapore property market
Private home prices in Singapore rose at a slower pace of 2 per cent in the second quarter, according to statistics from the Urban Redevelopment Authority (URA). This was in line with the flash estimates which showed a 1.9 per cent increase as announced earlier. The property price index stood at 203 points in the second quarter. In the previous quarter, the price index grew 2.2 per cent to 199.1...
Despite the property cooling measures announced in January, prices of luxury units have risen a staggering 20 percent to S$7.9 million, according to Kim Eng, in a report by Singapore Business Review. “While the average price per unit in all the other segments declined, in the luxury segment, it rose nearly 20 percent from S$6.6 million to S$7.9 million,” it said. It added that the volume dropped...
Property developers are hoping that home buyers will purchase ahead of the Hungry Ghost Festival in August. Otherwise, overall market sentiment will be cautious. Chia Siew Chuin, Director of Research & Advisory at Colliers International, noted that while the end of the school holidays could imply the return of some buyers to the market, overall sentiment in the private housing market is likely to stay...
Condominium units in the Tanjong Rhu waterfront district are in the spotlight. There were eight transactions for apartments in the area, according to caveats lodged between June 14 and 21, with deals generally in the $1,160 to $1,400 psf range. The most actively traded condo seems to be the 510-unit Pebble Bay, developed by DBS Land (now known as CapitaLand). The 99-year leasehold condo was completed in...
New private home sales slumped in June, falling by 25 per cent from the previous month to 1,182 units despite an increase in the number of new launches in the month. Data released yesterday by the Urban Redevelopment Authority (URA) showed that 1,614 units were launched last month, up from 1,215 in May. Most analysts attribute the decline in sales to the seasonal effect of the June holidays as well as...
Sales of private homes fell 25 per cent in June from a month earlier, according to data released on Friday by the Urban Redevelopment Authority (URA). A total of 1,182 private residential units were sold last month, down from 1,575 units in May. Private homes in the Outside Central Region (OCR) accounted for 833 of the units sold in June, compared with 227 units in the Rest of Central Region (RCR) and...
Interest in GuocoLand’s Paterson Residence has been creeping up recently as three units in the development were sold in June for as much as $2,200 per sq ft (psf). On June 7, a 1,658 sq ft apartment on the 14th floor was sold for nearly $3.65 million. It was bought in July 2006 for $2.45 million, or $1,477 psf, which means the owner made about $1.16 million in profit from the sale. On June 8, a similar...
Interest rates are at an all-time low, but what will happen if rates begin to rise, asks Colin Tan These days, when I am asked in casual conversations about the local housing market, I am at a loss for words. Do I describe the market assuming that housing interest rates remain as they are, which has been abnormally low for about two and a half years now, or do I launch straight into the explanation of...
After three rounds of cooling measures, what's next for Singapore buyers, asks Tan Kok Keong Recently, I was on a panel discussion at Bank of America's Asian Stars 2011 conference. The topic that day was "Regional Housing Policy: How Bad Can it Get?", and panelists included the head of research of Centaline Group, the vice-chairman of Hong Kong Housing Society and the vice-president of Malaysia Property...