There could be a decline in home prices and rents after the release of a large supply of new homes in the market in 2013 and 2014, warn analysts. According to recent Urban Redevelopment Authority (URA) data, about 17,111 new homes are expected to be completed in 2013 and 17,421 in 2014, including homes under construction or already with planning approvals. “These figures are considerably more than the...
singapore property market
Despite round after round of cooling measures in 2010 and 2011, many investors remain eager to park their funds in residential properties. The tightening measures have merely relegated a fraction of the investors to the sidelines and, while they watch the market closely, others continue to invest. Why are investors so attracted to residential property investments? Low interest rate environment Savings...
Prices of Singapore's luxury prime homes remained stable for the second straight quarter as buyers stayed cautious after recent government tightening measures, according to Jones Lang LaSalle. Overall, the Singapore mass residential market saw a 12 per cent increase in prices in 2010 driven by positive sentiment on the back of strong economic performance. However the high-end market has been more subdued...
Non-landed private home prices galloped in January, despite the stringent measures announced by the Government to cool the exuberance in the property market. Flash estimates released by the National University of Singapore Institute of Real Estate Studies showed that the overall Singapore Residential Price Index rose 2.6 per cent month-on-month. That is more than double the 1-per-cent increase in the...
Non-landed private home prices in Singapore galloped higher in January despite the government's recent stringent measures to choke off property speculation. Flash estimates compiled by the National University of Singapore Institute of Real Estate Studies show the overall Singapore Residential Price Index rising by 2.6 percent month-on-month. This is more than double the one percent increase in the index...
Following completion in December, buyer interest has returned to the 231- unit The Trillium located along Kim Seng Road. The luxury condominium was fully sold by Lippo Group at private previews in early 2007, at prices averaging $1,700 psf. Prices of units at the project, which obtained its Temporary Occupation Permit (TOP) in December, are well supported above the $2,000 psf level. A 5,533 sq ft...
One Shenton will be the latest residential development at Marina Bay to achieve completion, with the temporary occupation permit (TOP) expected this month. “Owners of the lower floor units at One Shenton are expecting to collect their keys soon, while mid- to high-floor units will also be ready for handover in the near future,” says Kelvin Cheong, an associate director at Dennis Wee Realty Pte...
The proportion of mainland Chinese buying Singapore residential properties jumped three percent in the fourth quarter of 2010, from 20 percent in the previous quarter. For the full-year 2010, their proportion among non-Singaporean buyers hit a yearly high of 19 percent, against 15 percent in the previous year. Ms. Chua Chor Hoon, Head of DTZ South East Asia Research, commented: “Mainland Chinese buyers...
HDB dwellers accounted for a lower proportion of overall private property transactions in 2010 than in the previous year, according to a DTZ analysis based on data from the Urban Redevelopment Authority (URA). Many of those who purchased private property also opted to take up small units measuring less than 1,000 sq ft, it said. “I think it has to do with the higher (property) prices,” said Chua Chor...
The property cooling measures did not deter crowds from visiting a number of launches over the weekend. Many projects, including My Manhattan and d'Leedon, saw a steady stream of visitors, although the number of sales was not quite enough to nudge prices north. If the first phase of a launch is successful, developers could be tempted to increase prices to cash in - but that sort of buyer enthusiasm was...