When the Government introduced measures to cool the property market in February, the steps were not intended to stop prices from rising. Instead, they were calibrated to temper exuberance in the market and pre-empt a property bubble from forming, Minister for National Development Mah Bow Tan told Parliament yesterday. Overall, property prices increased 5.6 per cent in the first quarter this year compared...
singapore property market
With first-quarter home sales rocketing to a higher-than-expected 4,446 units, property experts say that the strong sales momentum will probably spill over into the second quarter as developers plan more sizeable launches. In fact, at least 12 developments have been identified by property consultants as possible launches this quarter. These include Far East Organization's 361-unit Waterfront Gold at...
The Mountbatten area has seen transactions of landed homes pick up pace in recent months, with a couple of bungalows on Branksome Road, Wilkinson Road and, most recently, Ramsgate Road changing hands at prices above $1,000 psf since the start of the year. Bungalows in the Mountbatten area are very much sought after,” says William Wong, managing director of RealStar Premier Property, who specialises in...
Prices of Singapore's private homes market defied recent property cooling measures and continued their upward climb in the first quarter of this year, even though the rate of growth has moderated slightly. Statistics released by the Urban Redevelopment Authority (URA) on Friday show private residential properties prices rising to 175 points for the first quarter of this year, around 5.6 per cent higher...
Private home prices continue to rise first quarter this year but at a slower pace. Final data released by the Urban Redevelopment Authority (URA) showed that prices were up 5.6 per cent slightly higher than the initial estimate of 5.1 per cent. But the rate of price growth has moderated from the 7.4 per cent increase recorded in the fourth quarter last year. URA said private home prices rose across all...
PROPERTY owners big and small are on track to reap big benefits, thanks to the opening of 11 new stations on the Circle Line, according to a report. Industrial landlords such as Ascendas Reit (A-Reit), Mapletree Logistics Trust (MapletreeLog) and Suntec Reit own large properties around these stations and will see gains from the new transport route, said Credit Suisse. Its report also showed that property...
Tree House, The Holland Collection being launched this weekend Developers plan to launch more residential projects this weekend - even though home sales slowed in April after a strong showing in March. 1,761 new private homes were sold in March - a 47 per cent month-on-month increase. But sales have come off this month, market watchers say - though there have been exceptions. UOL Group said that it sold...
HOUSING markets everywhere are fraught with market failures and there is no housing market in the world devoid of government intervention. I am stating the obvious, of course, but it bears repetition, especially in the light of the growing frenzy in the residential property market in Singapore. There are two schools of thought, diametrically opposed, on what should be done. Would-be home buyers,...
Since the start of the year, units at Kovan Melody have increasingly crossed the $800 psf level, which is especially good news to sellers who purchased their units for less than $500 psf when the project was first launched in 2004. According to a March 10 caveat lodged with the URA, an 893 sq ft unit on the 15th floor was sold for $800,000, or $895 psf, surpassing the peak in 2007. The 778-unit Kovan...
PRICES of resale executive condominiums (ECs) have risen much faster than those of private mass market homes in recent years, and have hit yet another high, a recent study has found. From the first quarter of 2007 to the first quarter of this year, the prices of resale ECs shot up 70 per cent, compared with the 39.6 per cent rise in mass market private home prices, the study from Savills Singapore...