We need to keep an eye on the potentially strong supply of private homes that will come onstream till 2015. In particular, we need to be wary about the supply this and next year, because the global economic recovery remains elusive. Based on the Urban Redevelopment Authority's (URA) release on Jan 28 of Q4 2010 data for private residential properties, the estimated number of residential units that will...
singapore property market
The Real Estate Developers' Association of Singapore (REDAS) said the latest property cooling measures introduced last month have stabilised the property market. Market watchers share the same view, but pointed out that it is the volume of transactions in the suburban market that has tapered off. They added that for the high-end property market, the number of transactions may have been lower from last...
Evergreen estates in District 15 such as Marine Parade, Siglap and Katong remained on the top lists for home buyers in 2010, though some new areas gained popularity as well. About 4,053 non-landed property transactions were recorded in District 15, nearly 12 percent of the total 34,767 caveats recorded, strengthening its position as the most preferred district for Singapore home buyers. This was followed...
Homeowners who have kept their units at Queens since their launch in 2000 have seen prices appreciate over the years. Recently, some took the opportunity to cash out as prices climbed above $1,100 psf, booking gains of more than 50%. Last year, prices hit a high of $1,284 psf when a 914 sq ft unit on the 38th floor was sold for $1.175 million in November. This is close to the peak of $1,328 psf when a...
If you are a HDB owner looking to upgrade to a private property, wait a little longer before signing on the dotted line. This was the advice from Minister for National Development Mah Bow Tan. 'Housing prices are rather high now... if you wait for a while, you might find more affordable properties,' Mr Mah was quoted in an interview published in the Chinese daily Lianhe Wanbao. Mr Mah expects interest...
The Monetary Authority of Singapore's (MAS) proposed new regulations to tighten mortgage equity withdrawal loans (MWL) should have little impact on the property market if they are eventually introduced. Market players, who include mortgage loans brokers, said this is because most buyers who aim to cash out on the value of their homes are not the average home owners or property investors. Instead, they -...
Interest in apartments at the 1,111-unit The Sail @ Marina Bay revived last month, with four units changing hands between Dec 21 and 28 at prices ranging from $1,899 to $2,990 psf. Eric Tay, an agent with PropNex who specialises in residential projects in the Marina Bay area, attributes the return of interest to the “spillover effect” from the strong take-up rate at the VIP preview of Robinson Suites...
The 99-year-leasehold Blue Horizon condominium by Far East Organization, located along West Coast Crescent, has seen resale prices heading north since the launch of The Vision right next door. Developed by Cheung Kong (Holdings), The Vision is fully sold and has set a new price benchmark in the West Coast neighbourhood, with transactions crossing the $1,000 psf threshold and penthouses hitting a high of...
In a year fuelled by strong liquidity and economic growth, bungalows were the stars that led the surge in the Singapore property market in 2010. Data from URA shows that its price index for landed homes climbed 30.8 per cent last year. The sub-index for detached houses, or bungalows, soared 37.6 per cent against a 5.6 per cent rise in 2009. The index for non-landed private homes rose 14 per cent last...
Almost half of the estimated 8,430 new private homes that are slated to be completed in 2011 will be in the upmarket core central region, according to the Urban Redevelopment Authority (URA). URA has been surveying developers more closely over the last few months in a bid to compile more accurate pipeline supply figures. The agency computes the estimated supply of private housing units in the pipeline...