CLAIMS that the Government is partly to blame for Singapore's short supply of land and high property prices have been firmly rebutted by the Ministry of National Development (MND) yesterday. President of the Real Estate Developers' Association of Singapore (Redas), Mr Simon Cheong, questioned on Wednesday the need for government intervention to halt the rise of private home prices, adding that it should...
singapore property market
HONG Leong Holdings has sold all 202 units in its upmarket 76 Shenton condominium in just one day. The one- and two-bedroom apartments in the 99-year leasehold project were snapped up after a ballot yesterday. One-bedroom units went for $1,600-$2,600 per sq ft, and two-bedders for $1,600-$2,300 psf. Hong Leong attributed the fast sales to the project's location in Shenton Way, attractive pricing,...
Those looking to buy into high-end living will have more options, with the launch of "The Residences at W Singapore" at Sentosa Cove this weekend. With luxury homes touted to be star performers of 2010, market watchers expect developers to roll out more of them in coming months. This could run down their land bank and drive up collective sales later in the year. The launch of "The Residences at W...
Developer Hong Leong Holdings has fully sold its new downtown mixed development, 76 Shenton, which was launched on Thursday. The 39-storey development, at the corner of Shenton Way and Palmer Road has 202 residential units of one and two bedrooms as well as commercial space which will include restaurants-cum-retail units. Hong Leong said the one-bedroom units were priced between S$1,600 and S$2,600 per...
The Ministry of National Development (MND) has defended its Reserve Price system for state land tenders, and disagrees that it has constrained market forces in Singapore. It issued a statement to rebut what the Real Estate Developers' Association of Singapore (REDAS) President, Simon Cheong had said on Wednesday. Cheong cited two sites, Tampines and Ten Mile Junction, saying they were released for sale...
New, monthly price index will also help in development of property derivatives Singapore now has a second price index to provide information on the state of the private housing market here. The new Singapore Residential Price Index, or SRPI, aims to provide a resource for the development of property derivatives. It tracks month-on-month price movements in the private non-landed residential property...
THE property market has made a dramatic recovery over the past year. In the residential sector, prices of mass-market homes have even surpassed their 2007 peak. Expectations are running high that some time this year too the luxury segment will touch 2007 record highs. Things are also picking up in the office market, which has seen a flurry of leasing activity since Q4 last year. Demand has already turned...
PETER OW and ONG KAH SENG examine high-end residential properties that may see increasing buying interest from foreigners and locals THIS is the year that high-end residential properties are expected to shine. Indeed, prices of luxury homes could recover by at least 10 per cent in 2010, bringing them close to the all-time high at end-2007. As Singapore's economic recovery takes hold, the traditional prime...
With relatively few landed home launches, buyers are always keen on older houses in the resale market, writes HAN HUAN MEI WHEN private home prices made their sterling recovery in the second half of 2009, landed homes didn't miss out on the action. The Urban Redevelopment Authority (URA) price indices for detached, semi-detached and terrace houses recovered by 22-26 per cent in 2H 2009, after falling some...
Developers shift focus to affordability, say NG WEI EN and CHUA CHOR HOON LAST year saw the second highest volume of private residential transactions in history, with the 30,830 caveats lodged falling short only of the 37,304 recorded in the 2007 boom. A combination of factors helped to boost demand for residential property. These were pent-up demand from those who had missed out on the previous boom,...