Sales of private homes defied expectations to bounce back strongly in July. According to latest data by the Urban Redevelopment Authority, 1,544 private homes were sold last month. That's 82.3 per cent higher than the 847 units sold in the previous month. Some analysts say this is due to the rush before the Hungry Ghost festival and the launch of popular projects. Analysts had expected between 900 and...
singapore property market
Savvy property investors have been rushing to get a unit at The Regency at Tiong Bahru after the condominium received its temporary occupation permit (TOP) in April, pushing the price to a new high of $1,493 psf. The fully sold 158-unit freehold development, which is UOL Group’s third project in the Tiong Bahru area, was officially launched in 2006 at an average price of more than $800 psf. Demand for...
Recent launch prices for condos in outlying areas way above existing properties The confirmation of the positive numbers for the private residential sector in Singapore for 2Q2010 appears to have unleashed another wave of buying onto the market. From landed homes to HDB flats, the market is awash with liquidity. My colleagues in the appraisal department tell me that the rising prices for properties not...
Ghost festival and lack of big launches spell lean month ahead, say experts SUPERSTITION is likely to get the better of some buyers during the rest of this month as the effects of the traditionally quiet Hungry Ghost Festival begin to be felt. During the festival - which started yesterday and will last until Sept 7 - superstitious individuals shun major commitments such as buying a property or getting...
But acquisitions of private apartments and condos slip 7.4% in Q2 Foreigners including permanent residents bought 81 landed homes in Singapore in the second quarter of this year, up from 69 in Q1. And the Q2 figure is the strongest quarterly showing since Q2 2007, according to Knight Frank's analysis of URA Realis caveats information up to July 30. District 15, which includes Katong, Telok Kurau and East...
With the interest rate on savings near zero and not able to beat even Singapore's benign inflation, forecast at 2.5 to 3.5 per cent by the Monetary Authority of Singapore, many are looking to work their savings harder by buying an investment property. Having decided that, the next question is whether to invest in a new property bought from the developer or a unit from the resale market. There are...
"Going once, going twice, sold!" This is a phrase commonly heard at property auctions in Singapore, which have - over the years - gained favour with both sellers and buyers. Auction houses, such as Colliers International, DTZ, Jones Lang LaSalle and Knight Frank, typically conduct auctions on a monthly basis in a hotel. About 200 people on average show up at each session, comprising both local and foreign...
A new era in property market governance Residential property demand has surged in many Asian cities as speculators and homeowners alike clamour to get a piece of the action before prices exceed their threshold buying level. We have seen volume and prices of new launches in Singapore rising unabated. In 3Q09, the Property Price Index, a national price index developed by the Urban Redevelopment Authority...
Prices of units at the newly built, 336-unit condominium The Arte by City Developments Ltd (CDL) have been on an uptrend this year, hitting a high of $1,250 psf last month versus an average of only $880 psf during its launch last year. This comes as it attains its temporary occupation permit (TOP) and rides the ongoing transformation of the Thomson- Balestier area. At the moment, Balestier Road still...
THE Real Estate Developers' Association of Singapore has made a bold move by launching its Real Estate Sentiment Index (RESI). The industry has taken a risk going public with the sentiment index, which it developed jointly with the National University of Singapore's Department of Real Estate. As expected, brickbats have surfaced, with sceptics questioning the credibility of developers - the key...