The ongoing European debt crisis has had greater success in cooling Singapore's red-hot private housing market than a cluster of anti-speculation measures or even the recent announcement of a sharply-accelerated Government land supply programme. Show flats, which at times have resembled crowded scenes at a sale, have grown eerily quiet. This is partly because many developers have delayed their project...
singapore property market
To buy or not to buy? PRIVATE residential prices in Singapore have been climbing since the second quarter of last year, prompting home seekers and investors who haven't gotten their feet wet to wonder: 'Should I still buy now?' Some of the most prominent developers in Singapore - who are also past winners of the Singapore Business Awards - shared their views on where the property market is headed with...
More people are buying resale waterfront and city homes in Singapore. CB Richard Ellis (CBRE) said secondary sales of homes in the prime inner city districts, such as Marina Bay and Sentosa, reached S$750.8 million last year. This is higher than the average secondary sales levels of about S$738 million between 2005 and 2008. Compared with new sales last year, resale transactions in the prime inner city...
Foreigners no longer accounted for most buyers who purchased homes at more than $5 million, according to a recent study conducted by Savills Research and Consultancy, revealing that Singaporeans are now buying up pricey homes. The report showed a stunning turnaround in a trend which has prevailed for nearly three years when foreigners had led the top end of the home market in the country. The percentage...
Property developer Kheng Leong has sold 180 units in The Minton condo project in Hougang over the weekend. The units sold were part of the 300 units released in the 1,145-unit project at Lorong Ah Soo/Hougang Street 11. It has an average selling price of about $850 psf. Property agents marketing The Minton project said that the sales result was below the expected output, which was patterned in the...
Spring Grove along Grange Road has seen prices climbing since March last year and fast approaching the peak of $1,792 psf achieved in January 2008, when a 1,388 sq ft unit on the fourth floor was sold for $2.49 million. Last month, prices hit a high of $1,700 psf when a 2,701 sq ft unit on the 19th floor was sold for $4.6 million. The 14-year-old, 325-unit condominium comprises three blocks of two- to...
Responding to the strong demand for private housing and land for private residential developments, the Ministry of National Development last week released its "highest potential supply quantum" per half year since 2001. Comments from the industry suggest they expect the impact of this strong signal to be immediate, in terms of cooling home sales and dampening land bids. Well, the experts have been...
Developers from China are looking to break into the Singapore property sector by building mass market and mid-tier residential homes. Observers said the new entrants want to diversify from their home market, while seeking opportunities in Singapore's growing property sector. Since late 2007, China-based developers have been trying to cut themselves a slice of the pie. While they account for no more than...
Citylights, the 600-unit condominium located on Jellicoe Road and just across the street from the Lavender MRT station, has been on the radar of property investors on the lookout for apartments in the city area lately. Developed by CapitaLand, the project comprises four 42-storey condo blocks and a row of conservation townhouses. The 99-year leasehold development was first launched in late 2004, and...
Interbank lending rates have fallen to all-time lows here and market watchers have raised concerns that cheap lending may lead to over-heating in the property sector. Responding to media queries at a Ministry of Trade and Industry briefing yesterday, Monetary Authority of Singapore (MAS) deputy managing director Ong Chong Tee said the fall in Sibor rates partly reflects market expectations of a stronger...