It may be three years before Double Bay Residences is completed, but some buyers of the sold-out, 646-unit condominium at Simei Street 4 have already cashed out for a profit. The 99-year leasehold project was launched in March last year amid much uncertainty in the property market. Units went for as low as $409 psf, with the average selling price in the $600 to $650 psf range. With the property market...
singapore property market
Do not expect the private residential property market to cool abruptly in the second half of this year. While property sales and home prices in some segments may soften in coming months, industry experts say the market is not likely to see a steep correction. Observers believe buyers still have excess funds to chase more units here, with many considering property investing to be a safe haven compared to...
THERE is probably no bubble in Singapore's property market, Minister Mentor Lee Kuan Yew said yesterday. The sharp price rises that have been seen are 'part of the total liquidity in the whole world system', said Mr Lee, noting that interest rates are low, and foreigners still see properties as affordable. 'Even if we cap our excess, people in Hong Kong, Indonesia, will say, compared to what I have to...
The pace of growth in home prices has slowed in the second quarter of 2010 with the exception of the mass market segment, said DTZ Research. According to DTZ, the resale prices of leasehold homes in the suburban areas rose by 4 per cent in Q2 on-quarter to $648 per square foot (psf) compared with the 2.1-per-cent increase recorded in the first three months of the year. Looking ahead, DTZ expects prices...
The rate of increase in housing prices in Singapore slowed down in the second quarter of this year, according to property consultancy firm DTZ. It said resistance to the high asking prices and the uncertainty in the stock market sidelined buying interest in the property market. The only exception was in the mass market segment where prices of secondary condominiums and apartments went up further compared...
Investment sales of property so far this year have already reached $11.26 billion - surpassing the $10.62 billion totted up for the whole of last year, according to latest figures from CB Richard Ellis. The property consulting group is now forecasting that the full-year 2010 number is likely to surpass its initial projection of $15 billion and perhaps reach the $17.9 billion mark achieved in 2008. The...
Number of caveats lodged in May down It's official - Singapore's private residential property market cooled significantly last month, going by the number of caveats lodged. Only 1,979 caveats were lodged, down 41 per cent from April, according to latest figures from the Singapore Institute of Surveyors and Valuers (SISV). District 4 saw the biggest drop in caveat numbers, down 76 per cent. The...
It's official - Singapore's private residential property market cooled significantly in May. The number of caveats lodged fell 41 per cent on-month to 1,979, according to latest figures from Singapore Institute of Surveyors and Valuers. Still, property analysts do not expect foreign investor's appetite for homes to be dampened. Industry data showed that District 4, which includes the Sentosa, Keppel Bay...
The launch of The Vision condominium along West Coast Crescent by Hong Kong developer Cheung Kong (Holdings) in mid- March at $1,000 to $1,200 psf set a new price benchmark for the West Coast area. For instance, the two penthouses in the develop ment were sold for $1,332 psf in the first weekend of private previews. The development — designed as a high-end product, setting a new benchmark for condos in...
Developers sold just 1,078 private homes in May - about half the 2,208 units they transacted in April. This could mark the start of a period of slower sales as developers weigh their options and buyers bide their time. The two parties could have a standoff for a little while, predicts DTZ executive director (consulting) Ong Choon Fah. 'There's no great push factor to launch projects in June when you weigh...