Private home prices rose by less than 1 per cent last month from the previous month, according to the latest National University of Singapore (NUS) Singapore Residential Price Index. The Singapore Residential Price Index (SRPI) for all properties grew 0.9 per cent month-on-month to 155.5 points. Suburban home prices grew the most, with month-on-month growth coming in at 2.2 per cent to reach 154.8....
singapore property market
Prices of HDB resale flats rose by 2.5 per cent in the last three months of 2010, the lowest quarterly growth for the year. This brings the full year's price increase to 14.1 per cent. According to the latest housing data released by HDB, the total number of resale transactions fell to about 32,260 last year, a 13 per cent drop from 2009. The median cash-over-valuation (COV) fell to S$23,000 in the...
Home prices grew only 1 per cent on-month, according to the National University of Singapore (NUS) Singapore Residential Price Index (SRPI) for December 2010. The Singapore Residential Price Index for all properties grew 0.9 per cent on-month to 155.5 points, compared to 154.1 in November 2010. Suburban home prices grew the most, with on-month growth coming in at 2.2 per cent to reach 154.8, compared to...
Some wonder if they should wait and see if the recent cooling measures push down prices significantly The Government's latest round of measures to cool the residential property market was clearly targeted at short-term investors and speculators. Effective since Jan 14, they include the highly punitive stamp duties which apply to the resale of residential properties within four years of purchase, the...
The Government's move to introduce a new set of property market cooling measures two weeks ago was widely anticipated but the harshness of the measures surprised many. The initial reaction from buyers was mixed. On the weekend immediately after the Jan 14 measures, buyers at Spottiswoode 18 snapped up 170 out of the 251 units launched, surprising many observers. The nonchalant reaction could be because...
Last year was a bright year for Singapore's private residential market. Indeed, it was a year of records, particularly for developer sales activity and prices of suburban private homes. However, with the announcement of the latest Government cooling measures effective on Jan 14, such exceptional performance will cease to be relevant for extrapolating future private residential market performance. In the...
The recent government cooling measures in Singapore's property market will bring down sales volume, but not to the extent of causing a significant fall in prices. According to a report by DTZ Research, sales volume is expected to fall as short-term speculators will be weeded out by the hefty seller's stamp duty of up to 16 per cent within the first year of purchase. However, the property consultancy said...
The outlook for Singapore’s private residential market is cautiously upbeat this year, as the number of new homes sold will likely taper off from last year’s high to a more sustainable level this year, possibly in the region of 10,000 units, said Colliers International. Overall private residential home prices will likely increase at a more moderate rate of five to eight percent this year. Mass market...
The surge in resale prices and number of transactions at Seletar Springs Condominium in December reflects the rising popularity of the quiet neighbourhood. Located on Gerald Drive, off Yio Chu Kang Road, the condo is in the vicinity of landed property, with Summer Villas strata terraced development across the road and Mugliston Park Estate next door. Developed by MCL Land, Seletar Springs is a 362-unit,...
Banks should take into account potentially higher interest rates in their credit assessments and not assume that the current low cost of funds will last indefinitely, the head of the Monetary Authority of Singapore (MAS) said on Friday, as he underlined the need to guard against the risks of asset bubbles. "Many parts of Asia in particular are vulnerable to property bubbles, not only because of current...