Savills Singapore has reported that the prices of non-landed luxury homes it monitored remained steady in the first quarter of the year. Savills’ data showed that the average price of non-landed luxury private homes remained steady at S$2,269 psf in the first quarter, rising marginally by 0.5 percent quarter-on-quarter from S$2,258 psf in the last quarter of 2010. The average price of “super...
singapore property market
Executive condos (EC), a hybrid of private and public housing, are now returning to the spotlight. On 26 May, the government launched the 11th EC site since 2010, a plot in Punggol that can house around 720 homes. Meanwhile, Chip Eng Seng and NTUC Choice Homes recorded rapid first-day sales for their Belysa project in the Pasir Ris / Elias Road area. Of the 315 units, 147, comprising three- and...
Foreign buyers accounted for 16 per cent of private home purchases in Singapore in the first quarter of this year, setting a new record high, according to real estate consultant DTZ Research. The previous high of 15 per cent was recorded in the fourth quarter of 2007. DTZ defines foreign buyers as non-Singaporeans and non-permanent residents. Singaporeans' share of private property purchases fell to 67...
Industrial and residential projects with affordable prices continue to attract demand. MCL Land has marketed 150 of the 200 units it has launched at its 414-unit Terrasse condo in Hougang. “Before we began sales last Saturday (May 21), we had intended to release only 120 units initially. But because demand was strong, we released another 80,” said Koh Teck Chuan, MCL Chief Executive. The units in...
The property market may see some radical changes in the coming months, according to analysts. They say the newly sworn-in Cabinet is expected to carry out extensive review of current housing policies. This may include a review of the government land sales programme and moderating home prices. However, some analysts say the population must continue to grow, otherwise the housing market will risk an...
Property analysts are expecting policy shifts on HDB flats and mass market private homes, with the appointment of Mr Khaw Boon Wan as the new National Development Minister. They say Mr Khaw is known to be an effective game changer. With housing affordability as a hot-button topic during the elections, the analysts foresee Mr Khaw as being forceful on this issue, at least early on. Terence Wong, research...
Demand in luxury homes seems to be creeping back, if last month's new private home sales figures and reports of a fresh jaw-dropping record sale price are anything to go by. A four-bedroom unit at SC Global's The Marq on Paterson Hill recently sold at $17.5m, a record-breaking $5,842 psf - surpassing the previous high of $5,600 psf at The Orchard Residences in October 2007. A total of 15 non-landed homes...
A new price record has been set for private property in Singapore. According to an anonymous source, a four-bedroom apartment at SC Global Developments’ The Marq on Paterson Hill has been sold for S$5,842 psf, surpassing the previous record of S$5,600 psf at The Orchard Residences in October 2007. In addition, the recent transaction at The Marq sets a new benchmark for the project, exceeding the...
Defying market expectations, sales of new private homes surged 29 per cent last month from March to 1,788 units, driven by robust demand in the mass market sector from HDB upgraders, data released yesterday by the Urban Redevelopment Authority showed That's the highest number of transactions since last November, as buyers returned in force after a temporary lull in February following the introduction of...
Sales of private residential properties increased in April. 1,788 private homes were sold last month, according to data released by the Urban Redevelopment Authority (URA) on Monday. That's a 29 percent month-on-month increase from the 1,386 units sold in March. Including Executive Condominiums (ECs), total sales would have reached an even more impressive figure of 1,901. Chalking up the best sales was...