THE Government will not introduce more measures relating to the property market for now, but will monitor the market closely, said National Development Minister Mah Bow Tan yesterday. This follows a string of measures aimed at cooling both the private and HDB property markets unveiled by the Government in the past two months. But Mr Mah said that to address land supply concerns - and to increase...
singapore property market
SHOULD the Government do something about 'Mickey Mouse-size' apartments that are all the rage now? No, said National Development Minister Mah Bow Tan yesterday, reiterating that market forces should continue to determine the prices and sizes of homes that will be developed. He was responding to concerns raised by Dr Amy Khor (Hong Kah GRC) about the proliferation of such small units in...
National Development Minister Mah Bow Tan on Monday said the government will not be introducing more measures to cool the market for now. He was responding to Members of Parliament who raised concerns about property prices, during debate over the ministry's budget. Sales of private homes gained momentum in the second half of last year, driving overall prices up by some 1.8 per cent in 2009. Last month,...
High-end properties are revisiting the $3,000 psf price range. In the Marina Bay area, the 1,111-unit The Sail @ Marina Bay steals the spotlight once again with six transactions in the week of Jan 26 to Feb 5; four above $2,000 psf while two crossed the $3,000 psf level. While Sentosa Cove and Keppel Bay are abuzz over the opening of Resorts World at Sentosa, excitement is also mounting at Marina Bay as...
Recent measures to cool the property market in China, Hong Kong and Singapore are seen as the right moves to temper speculation and rapidly rising prices. Still, industry watchers said that prices will have room to move upwards over the next two years. This is because interest rates in Hong Kong continue to be low, and high-end property prices in Singapore are still below their peak. Private home prices...
Recently, apartments at the 189-unit The Trumps have increasingly crossed the $800 psf level, even surpassing the 2007 peak of $896 psf. Last August, a high of $975 psf was achieved when a 1,270 sq ft unit on the 16th floor sold for $1.24 million. Located a street away from the Kembangan MRT station, the five-year-old condominium is attractive to families with young children as it is a short drive to good...
The Government has introduced two new measures to cool the property market and pre-empt a bubble from forming in the private homes sector. They come into effect Saturday. The Ministry of National Development said this will help ensure a stable and sustainable property market, and to curtail the HDB resale market where prices tend to track private property movements. From Saturday, it will be more...
With the opening of Genting Singapore’s Resorts World at Sentosa integrated resort, there has been a flurry of transactions at Caribbean at Keppel Bay and also the upmarket condominium projects in Sentosa Cove. In the week of Jan 15 to 22 alone, there was a total of nine new sales and resales. The condominium that saw the most resale activity was the 969-unit Caribbean at Keppel Bay developed by Keppel...
Data released Wednesday by the Urban Redevelopment Authority (URA) showed that 1,476 units were sold in the first month of the year, about triple the 481 units sold in the previous month. The rise in the number of private homes sold also breaks a five-month streak of declines. As was the trend in previous months, higher-end projects were more popular. Cube 8, a City Developments project located at...
It’s starting to look like a self-fulfilling prophecy, as far as prices in the high-end residential segment in Singapore are concerned. Anecdotally, there’s evidence that some cash-rich speculators are also back in the market, according to some property consultants. Notable secondary market transactions in the week of Jan 8 to 15 at The Tate Residences, Ardmore II and Scotts Square have seen a spike...