Property developers and other industry players are less upbeat on overall real-estate sentiment than before. They also expect more uncertain market conditions over the next six months. The Current Real-Estate Sentiment Index fell to 4.8 in the third quarter, down from 5.8 in the second quarter, according to a survey by the Real Estate Developers' Association of Singapore and the National University of...
singapore property market
Prices of housing and development board properties in Singapore are expected to fall up to 10% in the next six months while those of private real estate will rise up to 7%, according to a new survey. It will create a two tier real estate system making it harder for people to upgrade in a country where property accounts for almost half of private wealth, according to the poll of property analysts by...
The last 30 units at CityVista Residences has been sold for about $147 million. The buyer is said to be a property fund managed by Alpha Investment Partners - a unit of Keppel Land. The 20-storey freehold project of 70 units in the Cairnhill area received Temporary Occupation Permit (TOP) recently. The transaction involves 28 apartments (three and four-bedroom) and two penthouses. The price for the...
A couple months after the introduction of property cooling measures, property experts feel that Singapore private home prices are likely to be fairly flat until the end of the year. Mr Mohamed Ismail, chief executive PropNex, expects the Urban Redevelopment Authority's price index to reach a plateau in the current fourth quarter, with another 2 per cent growth at most. Reason given is because buyers are...
Recent price increases of relatively scarce landed homes have outstripped gains for non-landed homes, leading to talk of an increasingly segmented market. According to the Urban Redevelopment Authority's third quarter price index released, overall private home prices rose 2.9 per cent in the three months to Sept 30 - below the preliminary estimate of 3.1 per cent. The market was buoyed by landed home...
Completed early last year, the RiverGate development in the Robertson Quay area, where some units enjoy spectacular views of the Singapore River, has seen transaction prices scale $2,000 psf since July. However, they are nowhere near the record high of $2,701 psf achieved in May 2007, when a 3,143 sq ft unit was sold for $8.49 million. When the project was launched in early 2005, average prices were only...
Singapore's measures to cool the property sector had a stronger effect on prices in the private housing segment in the third quarter than initially estimated. Final data released on Friday by the Urban Redevelopment Authority (URA) showed that overall private residential prices rose 2.9 per cent from the second quarter, slowing sharply after a gain of 5.3 per cent in the previous three months. URA's...
Property consultant Jones Lang LaSalle says Singapore is seeing one of the world's strongest growth in real estate investment transactions. In its Global Market Perspective report, it says shortages of prime assets for sale are constraining investment volumes. This has led to Singapore, Australia, Sweden and China experiencing the highest property investment growth as those countries have robust economic...
While prices of some private residential properties may have reached record highs, there are still opportunities for homebuyers and investors who hope to benefit from capital appreciation and long-term investment. However, potential buyers should carefully evaluate the prevailing and expected market conditions and any project-specific opportunities before going ahead with a private home purchase. A...
Private home transactions in the secondary market slowed down significantly in September over the previous month following the August 30 announcement of property cooling measures. Based on the analysis of URA Realis caveats data as of October 19, the number of subsales slid nearly 52 percent month-on-month in September, while resales of private homes declined 42 percent over the same period. The sales...