Sales of residential private housing in the first half this year are set to beat the second half of 2010. But analysts said that will not prompt the government to introduce more property cooling measures in the short term. However, they noted that the last round of cooling measures may have had an unintended effect on driving up public housing prices. For the first five months, 6,810 private homes were...
singapore property market
Private home sales fell 12.7 per cent last month, compared to April, and analysts expect sales - as well as prices - to moderate further given the Government's plans to push out more supply in the coming months. Data released yesterday by the Urban Redevelopment Authority (URA) showed that 1,575 private homes were sold last month, compared to 1,805 units sold in April. Total sales, including Executive...
Data released Wednesday by the Urban Redevelopment Authority (URA) showed that 1,575 private homes were sold last month - a 12.7 per cent on-month drop from the 1,805 units sold in April. Including Executive Condominiums (EC), the total sales in May would have reached an even more impressive figure of 1,825. Chalking up the best sales was Terrasse at Terrasse Lane, which sold 184 units at a median price...
Prices at Park Infinia at Wee Nam hit an all time high of $2,180 psf last month. This is the second time prices at the three-yearold condominium along Lincoln Road have breached the $2,000 psf level. Before this, a 560 sq ft unit on the 30th floor was sold for $1.13 million ($2,019 psf) in April. The 486-unit condo was developed by Keppel Land and completed in 2008. Across the road, at the 85-unit Miro by...
In a flurry of announcements since he assumed office on May 28, National Development Minister Khaw Boon Wan has demonstrated urgent resolve to deal with housing concerns ranging from high prices to out-dated eligibility requirements and the inadequate supply of new Housing and Development Board (HDB) flats. Housing was a hot topic during the General Election last month. The prevalent view then was that...
Market watchers have said there may be an oversupply of private homes in two to three years' time, when most developments are completed. They cautioned that while a good economy may see these units gradually taken up, a downturn will send the property market into a depression. National Development Minister Khaw Boon Wan issued a "health advisory" on his blog, urging investors and upgraders to think hard...
With concerns mounting that there will be an oversupply in the private home market, property developers will be increasingly selective about the sites for sale under the Government Land Sales programme in the second half of this year, analysts said. They are likely to bid for the sites with the most attractive locations, such as those near MRT stations. Among these, the sites on Alexandra Road and Bishan...
In the past few months, there have been more warnings of a glut in the private housing market and the calls have become more strident. More recently, this warning has been blared out as one of several events that could lead to the perfect storm that the market is headed for. This is the worst-case scenario which could unfold as early as 2013 if all the events - more supply, falling demand and higher...
Private home purchases reached record highs last year and have continued to remain strong this year. Indeed, had the Government not imposed the fourth round of property market cooling measures in January, the home buying frenzy might have hit unsustainable levels on rampant speculation. One often wonders what drives the buying fervour. Given the euphoria, could traditional demand drivers have changed in...
National Development Minister Khaw Boon Wan on Thursday sounded the alert on the spike in property prices in his latest blog posting. He said things can go very wrong suddenly and gave three reasons. Firstly, 35,000 private homes have already been sold - though still in construction - with payments in various stages of completion. And there are 45,000 units in the pipeline, waiting to be built and...