Non-landed private home prices in Singapore continued its uptrend in May, rising 2.5 per cent from April. The National University of Singapore's Singapore Residential Price Index (SRPI) showed that the month-on-month increase in the overall index in May was sharper than the 1.1 per cent rise the month before. NUS's price index for properties in the central area jumped 3.5 per cent in May, while...
singapore property market
Resale prices of private homes continue to rise in the second quarter of this year. According to DTZ Research, resale prices of private residential properties increased at a faster rate across all segments in the second quarter of this year compared to the first. It says the average resale price of leasehold condominiums in the suburban areas rose the fastest by 3.9 per cent on-quarter, compared to 0.8...
Property agents have been reporting a drop in Good Class Bungalow (GCB) sales, as the gap between asking and offer prices widens. About S$750 million worth of sales have already been closed so far this year, for the residential market’s ultra-elite segment in Singapore. In 2010, a record S$2.3 billion worth of GCB deals were witnessed. Among the latest transactions in Singapore’s GCB areas is the...
National Development Minister Khaw Boon Wan has urged potential homeowners to weigh the benefits and risks of buying so-called "shoe-box" apartments. These are housing units which measure 500 square feet or less. In his latest blog entry, Mr Khaw said the government is watching the development of these units. Last year, about 1,900 of such apartments were sold, compared to 300 units in 2008. In...
2013 is less than two years away. I am feeling less lonely in expressing my views about the physical completion supply of residential units. It has been five years since I started to scrutinise the total stock of residential units in the pipeline, that is, current stock plus expected completions minus demolitions from en bloc programmes. Occasionally, people still ask: "Why look at completed supply when...
Singapore's property market will be likely to experience a strong second quarter, with new home sales volume expected to hit 4,000 units, according to real estate consultancy CB Richard Ellis (CBRE). CBRE said this would make it 11.3 per cent higher than the 3,595 new homes sold in the first quarter and close to the 4,241 units sold in the fourth quarter of 2010. The top five projects which have...
Singapore's property market will see a strong second quarter this year with the new home sales volume expected to hit 4,000 units. According to CB Richard Ellis, this would make it 11.3 per cent higher than the 3,595 new homes sold in the first quarter and close to the 4,241 units sold in the fourth quarter of 2010. CBRE said the top five projects which have contributed to the primary sales volume so far...
The combination of cautious buyers and a lack of large new launches continued to put a dampener on new home sales over the past week. Far East Organization sold 63 units from its properties - excluding Eight Courtyards - with Woodhaven being the top seller with 46 units snapped up. The 337-unit development has now shifted 125 homes at an average price of $931 per sq ft (psf) since its private...
The 969-unit Caribbean at Keppel Bay is enjoying renewed interest among homebuyers, buoyed by strong visitorship to Sentosa Island with the opening of the Resorts World at Sentosa integrated resort, and growing anticipation of improved connectivity when the Circle Line MRT route is completed at year-end. Caribbean at Keppel Bay (developed by Keppel Land) saw four transactions on May 16 to 24, with prices...
Some truths are cast in stone. In real estate, "location, location, location" is said to be the most important thing that determines a property's value. In economics, the law of supply and demand - the more there is of one item, the lower its price - is often the foundation of all market theories. Both of them are about to converge in Singapore's housing market, where at least 10,000 new homes could...