Prices for landed properties have skyrocketed by 63 per cent since the property market hit a low in the second quarter of 2009. In the 12 months of last year, the overall landed property index climbed 30.8 per cent, with prices for detached houses gaining a whopping 37.6 per cent, while prices for semi-detached and terrace houses grew 26 per cent. While most home searchers believe that landed property...
singapore property market
In an online poll of about 400 people that The Straits Times conducted on the eve of the announcement of the Budget, inflation worries ranked as the most urgent issue respondents wanted to be addressed. This did not come as a surprise but "lower housing prices" was ranked second among nine issues which included providing assistance to the sandwiched class, narrowing the income gap, boosting the birth...
The gap between landed and non-landed property prices has narrowed in psf terms over the past two years, according to analysis by a real estate company. As of end March 2009, detached, semi-detached and terrace houses transacted at discounts of 38, 36 and 23 percent respectively, as compared to non-landed units in psf terms. While the gaps narrowed by end 2010, landed homes are still transacting at more...
The head of Singapore's second-largest developer said property prices in the Republic could drop by three to five per cent this year. City Development's billionaire chairman Kwek Leng Beng gave this assessment as his company announced a record pre-tax profit of more than S$1 billion for 2010. Housing unit prices in Singapore could experience a small drop this year because of the government's latest...
The news headlines this week about developer's home sales for last month were almost comical, doing little justice to the actual reports that followed. Unfortunately, people remember the headlines and not so much the details. Data released by the Urban Redevelopment Authority (URA) on Tuesday showed a total of 1,189 new private homes sold last month. That is a 10.7 per cent drop from December and a...
Demand for landed properties is likely to be robust this year, according to market watchers. They said landed property buyers are typically unaffected by the government measures to curb speculation. That is because they are less likely to speculate on their houses as they are usually long-term owner occupiers. Analysts said going forward, limited supply of landed properties, low interest rates and...
Sales of private residential property in Singapore fell to a three-month low in January after the government announced stringent measures to curb speculative activity, including a 16 per cent seller's stamp duty for sales in the first year. Data released on Tuesday by the Urban Redevelopment Authority (URA) showed that 1,189 private homes were sold last month. This is an 11 per cent month-on-month drop...
Buyers with Housing Development Board (HDB) addresses lodged 1,016 caveats for private apartments below 500 sq ft in 2010, approximately 17 times the 59 units acquired by HDB dwellers in 2006, according to an analysis of Urban Redevelopment Authority (URA) Realis caveats data. These small units comprised 9.1 percent of the total number of non-landed private homes acquired by buyers with HDB addresses in...
National Development Minister Mah Bow Tan has said the government will continue to monitor the property market closely and take further steps, if necessary, to promote a stable and sustainable property market. Replying to a question in Parliament on Monday, he explained that despite the large supply in the pipeline, market sentiments had remained bullish, with signs of renewed exuberance in the market at...
The launch of a residential project in Sembawang over the weekend has been met with strong response, confirming expectations that the property market will weather the recent round of government cooling measures. Analysts said more launches are likely over the next two months to make up for the lull during the Chinese New Year period and homebuyers will be spoilt for choice. They added that developers...