Prices of units at The Interlace hit an all time high of $1,323 psf in October, with apartments released in the first two phases almost sold out. So far, more than 90% of the 590 units released have been sold. In the first phase, 360 units were put up for sale in September last year, and in the second phase, 230 units were released in April this year. In the first phase, prices ranged from $850 to $1,150...
singapore property market
Small-sized studio apartments although squeeze for some, have been achieving record prices, even in less glitzy areas outside the city centre. So-called shoebox apartments which are less than 500 sq ft in size, first made their presence felt around 2006 in mainly prime districts. An example is Robertson Edge off Mohamed Sultan Road. The trend has since spread to regions outside the central area. In...
Rents for non-landed properties such as condominiums are rising at a slower pace. Latest data from the Urban Redevelopment Authority (URA) showed such rentals rose just 3.6 per cent in the third quarter, compared to 6 per cent in the preceding quarter and 4.8 per cent in the first quarter. Property analysts said the downward trend indicates that the market has reached a sustainable level and the growth is...
The Government's cooling measures on the property market have sharply cut Singapore home loan applications at DBS bank according to chief executive Piyush Gupta. He said local mortgage applications have slumped by 20 to 25 per cent since the measures were introduced on Aug 30. OCBC Bank CEO David Conner also indicated earlier this week that it has seen a 20 per cent fall in housing loan applications...
Prime Minister Lee Hsien Loong said yesterday that the city- state's red-hot property market was a matter of concern and needed careful monitoring to avoid the creation of a bubble. Recent measures to cool the market have dampened sentiment, but liquidity is awash in the region, he told news agency Reuters in an interview on the risks facing Singapore. Mr Lee also said the government will continue to...
Some developers are trying to release new projects before the year-end holiday season sets in. UOL Group is expected to preview the freehold Spottiswoode Residences condo next week, and the price is expected to be about $2,000 per square feet (psf). The project, a 36-storey tower, is next to Spottiswoode Park, a green lung in the area, and close to Tanjong Pagar, which is slated to be transformed into a...
Geylang is providing another housing option for those who want to buy condominium units at relatively affordable entry price levels, but which offer steady rental income, say property agents. One such example is Atrium Residences, a 142-unit freehold apartment block at Lorong 28 Geylang, which saw four transactions at prices ranging from $715 to $743 psf in the Sept 28 to Oct 5 period. Developed by niche...
Property developers are less upbeat of the future, with nearly 34 percent of them expecting a decline in new home prices, according to the latest readings of Real Estate Sentiment Index (RESI). Following the cooling measures announced on August 30, a third of developers polled for the third quarter expect less than 10 percent decline in prices for new residential launches over the next six months. None of...
As expected, private housing prices in Singapore rose by only 2.9 per cent in the third quarter, slower than the 5.3 per cent in Q2. However, what caught many off-guard was that prices of high-rise apartments rose by a mere 1.6 per cent compared to 5.0 per cent previously while the 7.7 per cent rise for landed homes was much better than the 6.2 per cent a quarter earlier. And despite more properties...
We need good data and solid reference points to navigate towards investment decisions. A good source of raw data, with solid data integrity and consistency of reporting, layered with reasonable assumptions, deep experience and objectively interpreted and analysed will mean the difference between a mediocre investment versus a wildly profitable one. With several rounds of policy changes imposed on the...