More top-end condominiums in the core central region (CCR) have been changing hands - at higher prices - with each passing month. Yet, deals above $4,000 psf are still rare. Analysts say that this shows the luxury segment still has room for capital appreciation. November saw only one such transaction - a Scotts Square unit which sold for $4,358 psf, according to the Urban Redevelopment Authority (URA). In...
singapore property market
Analysts say surge in private home sales reinforce the case for harsher measures A surprising surge in private home sales last month - coming at a time when the Government's cooling measures were expected to take effect - has prompted analysts to predict that another round of intervention could be on the cards. Private home sales in November jumped almost 80 per cent from the previous month, bringing the...
A total of 1,909 private residential units, excluding executive condominiums, were sold in November, up from a total of 1,058 units taken up in the previous month, data from the Urban Redevelopment Authority showed. The data, released every month, showed sales outside the prime central region (ORC) led with 1,229 units sold, followed by rest of central region (RCR) at 467 units, and core central region...
Private residential property prices are expected to rise between five and 12 per cent next year. Analysts expect high-end properties to lead the price increase. They say prices in that segment still have room to grow because of the positive economic outlook for 2011. Robust economic growth forecast of between four and six per cent next year and abundant liquidity are making analysts upbeat. Karamjit...
The 509-unit River Place on Havelock Road has recently caught the attention of investors and property agents attribute it to the perception that it could be undervalued relative to other newer projects in the vicinity — for instance, The Pier at Robertson, completed in 2006, where transaction prices in late September/October ranged from $1,696 to $2,032 psf; and Watermark at Robertson Quay, completed two...
Despite the cooling measures introduced by the government in August, many home buyers feel that Singapore properties are still expensive. This is according to the latest survey by property listings site PropertyGuru.com.sg. Steve Melhuish, Chief Executive Officer, PropertyGuru.com.sg, said: "One of the things that came out in terms of the most recent research findings is that people still think that HDB...
Without a doubt but that alone is not going to stop buyer demand Since the announcement last month of another bumper crop of land for new residential projects for the first half of next year, there has been a pick-up in the number of comments from the real estate industry raising concerns about a potential oversupply of residential housing. Most developers, though, do not appear to be too concerned as...
Over the last few months, I have explained in this series of commentaries how the Government provides affordable housing for the majority of Singaporeans, and how these flats are not only a home, but also an asset which grows in value to support social mobility and provide for old age. Many readers have said they now understand the issues better and agree with the hard choices that the Government has to...
Good Class Bungalow (GCB) deals in Singapore hit $1.85 billion year-to-date, an increase of 7.3 percent from the $1.72 billion deals recorded last year, according to CB Richard Ellis. Also, at least $100 million worth of GCB deals are expected to be exercised before the year ends. The $1.85 billion worth of GCB deals so far this year includes 101 transactions, slightly lower that the 109 GCBs sold in...
OCBC today said in a new report yesterday that mass-market homes in Singapore are looking expensive, while high-end properties, which are yet to hit their previous peak prices, could be even riskier bets because of their reliance on fickle overseas buyers. "The market may choose to 'dance until the music stops', but in our opinion, it is time to recognise the risks of direct investments in residential...