Prices at the 646-unit Icon on Gopeng Street reached a new high of $2,515 psf on Oct 15, when a 1,119 sq ft penthouse on the 46th floor was sold for $2.8 million. This breaks the previous record of $2,457 psf in November 2007, when another similar-sized unit on the same floor went for $2.75 million. The new high set at the four-year-old, 46-storey condominium was for a prime unit sold by developer Far...
singapore property market
Singapore is about 700 sq km in size and has roughly 890,000 public housing, 70,000 landed residential and 187,000 non-landed residential units. It is a small country with a small residential property market compared to 100 or more countries. However, the challenge of keeping tab on the physical supply of residential units in Singapore seems insurmountable, especially when trying to estimate future...
Judging from present trends, the landed segment appears to be headed for new highs Six weeks ago, this paper featured my article, Quest for landed property picks up. In it, I touched on the growing scarcity of landed properties in Singapore and its impact on demand and prices. We observed how landed property prices outperformed non-landed prices during this market upturn. Landed home prices rose 43.2 per...
If there is anything remarkable about the recently-released developer sales for last month, it has to be the spectacular return of HDB upgraders to the housing market. In all, 1,597 units were sold during the month, of which about a third or 529 were executive condominiums (ECs). They helped propel developer sales to a dazzling 74 per cent gain over the previous month. The release of new ECs for the...
A handful of private homes nearing completion in the prime Orchard Road area have been re-sold at a loss. A Savills analysis of caveats captured by the Urban Redevelopment Authority showed that nine units bought in 2007 were sold in 2010 at a loss in the sub-sale market. But the bulk of homes bought from 2006 to 2009 - 78 out of 87 - were sold for a profit. The sellers who lost money sold units in...
But overall sales rebound amid rosy economic outlook Sales of new private homes in the suburban area plunged 25 per cent last month from the previous month, likely hit by the return of executive condominiums (ECs), according to analysts. However, growth from other areas lifted overall October home sales to 1,058 units, up 16 per cent from the 911 in the previous month, according to Urban Redevelopment...
Sales of private home units rebounded in October, climbing above the 1,000 units level yet again. Data released on Monday by the Urban Redevelopment Authority (URA) showed that 1,058 private units were sold last month. Including Executive Condominiums, the total sales would have reached an even more impressive figure of 1,587. That's higher than the 911 units sold in the previous month. Chalking up the...
After all these years, condominiums along Bayshore Road off the East Coast Park Expressway (ECP) in District 16 continue to be sought after by homebuyers and investors. “There is robust demand for properties in this area, the biggest draw being their proximity to East Coast beach and park,” says Huttons senior marketing associate Mervin Tan, who specialises in marketing the properties in the...
The flood of hot money unleashed by the United States' latest round of monetary easing runs the risk of inflating a bubble in Singapore property market. This may in turn increase the chances of further property cooling measures, warned analysts yesterday. Regional markets are expected to be on the receiving end of a large slice of the US$600 billion (S$770 billion) injected by the US Federal Reserve last...
Good-class bungalow (GCB) owners are cashing in on escalating property prices. A CB Richard Ellis (CBRE) analysis of Urban Redevelopment Authority (URA) Realis caveats shows that GCBs are netting bumper profits for owners who have seen average per sq ft (psf) prices rise almost 30 per cent over the past year. Some have taken to buying and selling their GCBs within a period of less than two years. At...