Residential property prices in Singapore increased 7.4% in last three months of 2009 as the property market made a quick recovery from a nightmarish start to the year, the latest published figures show. This followed the previous quarter's increase of 15.8%, a turnaround from a fall of 18% in the first half of 2009, leaving the annual price increase at 1.8%, said the Redevelopment Authority. Prices of...
singapore property market
A Singaporean who only wants to be known as Mr Tan put his three-bedroom, 1,528 sq ft unit at Chuan Park condominium on Lorong Chuan for sale a month ago. Within a day, he found a buyer who was willing to pay his asking price of $980,000, or $641 psf. “We sold because the price reached our expectations,” he says in a phone interview. “The property may be old, but it is well-maintained. Rental demand...
Hot on the heels of the successful private preview of City Developments Ltd’s 177-unit Cube 8 on Thomson Road, with 85% of the units sold in four days at an average price of S$1,250 (RM3,025) psf, Allgreen Properties started private previews at its 83-unit high-end condominium, Holland Residences, last Monday. All 35 units released in the first phase were taken up by Wednesday, and another 33 units were...
Far East said to be top seller in January; Lippo and MCL may release some units EVEN as developers have gotten off to a good start this year, selling well over 1,000 private homes in January, their launch machinery remains well oiled for more roll-outs in the near future. Lippo Group is expected to preview Centennia Suites on the former Kim Seng Plaza site, diagonally opposite Great World City, later...
Aspen Heights may be 11 years old, but the massive 606-unit condominium located along River Valley Road has been enjoying a resurgence of interest from homebuyers, riding on strong sales of new developments nearby. After only 15 transactions hovering at the $1,000 psf level in the first half of 2009, more than 30 units have changed hands in 2H2009, with prices surging past $1,400 psf. For the period Dec 23...
The opening of the second phase of the Circle Line MRT in April is definitely something to look forward to for residents living nearby. But those looking to sell or rent their homes are set to benefit as well. Property agents said the opening of the 11 new stations along the Circle Line is likely to push property prices up. Agents MediaCorp spoke to estimate home prices will increase by 10 per cent while...
Private home prices in Singapore continued to recover in the fourth quarter of last year, growing 7.4 per cent on-quarter. According to data from the Urban Redevelopment Authority, the rise is a slower pace from the 15.8 per cent jump in the previous three months. But analysts expect the cost of homes to still creep up this year, and match the peak levels seen in the second quarter of 2008. Mass market...
Private previews of The Shore Residences (the former Rose Garden enbloc site) by Far East Organization in December followed by an official launch on Jan 1 drew crowds to the showflat on weekends. The new 408-unit development opposite Katong Shopping Centre has seen close to 200 units sold at an average price of $1,175 psf as at last week. What’s more, the project has also spurred renewed interest in the...
Many property owners have been asking us: Is it time to sell en bloc? Are developers ready to buy? Should we start the process now, or wait for the market to pick up further? Are the new en bloc laws too onerous? In 2007, there were more than 100 such deals, but 2008 saw fewer than 10, and there was just one last year. So what is in store for 2010? We certainly do not have the answers to all of these...
Mass market and mid-tier projects dominated the private residential market last year. Sales recovered at a healthy clip - with 14,725 units changing hands for the whole year. That is a shade off the 2007 peak of 14,811 units, according to figures released by the Urban Redevelopment Authority (URA). Observers said foreign buyers, mostly from China, contributed to the strong sales. Colin Tan, head of...