A man went to the races and won big, taking home $50,000 in winnings. The following week, he won $25,000. Did he win big? Of course he did! When developers' sales for May hit 1,078 units - about half of April's near-record 2,208 units, the market was adjudged to have cooled significantly. Has it? Even if market sentiment had not been hit by the European debt crisis, April's near-record-breaking figure of...
singapore property market
Sales in May less than half that in April The feverish property market lost some of its sizzle last month, as Europe's debt crisis and the resulting retreat in global stock prices sent prospective home buyers scurrying to the sidelines, but analysts said underlying sentiment would likely remain firm, supported by Singapore's strong economic fundamentals and steady demand. Data released yesterday by the...
Singapore's property market cooled significantly in May with just 1,078 units of new private homes sold. This is about 50 per cent lower than the number of homes sold in April. Data released Tuesday by the Urban Redevelopment Authority, URA, showed a decline in transactions across all segments. Homes located in the city fringe were most popular during the month with 451 transactions. However, this...
Landed homes in Opera Estate have increasingly breached the $1,000 psf level this year. Of the 16 transactions worth more than $1,000 psf from May 1997 to May 2010, half were carried out this year, according to caveats lodged with URA Realis. The peak of $1,301 psf was hit when a terraced house at Taman Siglap Road was sold for $2.1 million in February. Opera Estate is located near the Bedok MRT station...
Early this week, a developer gave itself a pat on the back for delivering good returns on its maiden residential project. Considering that almost every established developer made record profits in their recent history, was it such an achievement? If ever there was a period which could be described as a golden era for developers, the years from 2007 to the present day - with the exception of 2008 - must be...
Analysts expect drop in transactions The local property market is in for a correction in the coming months, said industry players, citing tell-tale signs like a plateau in home prices and a drop in transaction volumes. The Singapore Institute of Surveyors and Valuers (SISV) said there were only 899 caveats lodged for condominiums in the first three weeks of last month. There were 3,060 for the whole of...
Industry players have said Singapore's property market is in for a correction in coming months. Tell-tale signs include a plateau in home prices and a drop in transaction volumes. The Singapore Institute of Surveyors and Valuers said there were 899 caveats lodged for condominiums in the first three weeks of May. This compares with 3,060 for the whole of April. New condominium projects are still doing...
Pebble Bay, a 510-unit waterfront condominium in Tanjong Rhu, has seen strong interest from home-buyers since early this year. Prices climbed to a high of $1,389 psf in January when a 2,099 sq ft three-bedroom unit on the sixth floor changed hands for $2.9 million, surpassing the previous high of $1,372 psf achieved at the condo in the previous peak of 2007. According to Sheirly Leo, ERA Realty Network...
Many had owned units for less than a year before they sold them for profit Nearly a quarter of those who profitably disposed of a condo or private apartment in the subsale market in the first four months of this year had owned the unit for less than a year, according to an analysis by Savills Singapore. This is higher than the 19.7 per cent who had held their properties for under a year before divesting...
A higher proportion of them are profitable and the gains have shot up, too Subsales are becoming more and more profitable. At the low point of the market in the first quarter of 2009, only 67.5 per cent of the subsales of private apartments and condos yielded a profit. That proportion grew to 95.1 per cent in Q1 this year and 96.1 per cent in April, according to Savills Singapore's analysis of URA...