Singapore's private property market is continuing to show signs of declining interest. Data released Friday from the Urban Redevelopment Authority (URA) showed that just 481 units were sold in December, the fifth straight month of decrease. The figure is a 20 per cent drop, compared to the previous month's sale of 600 units. It is also the second lowest number of monthly sales in 2009, after January's...
singapore property market
The luxury housing sector is expected to lead the way for the Singapore property market this year, according to real estate broker Savills. Savills is forecasting that prices in the luxury segment will rise 15 per cent in the year ahead. However, prices in the mass market and mid-end properties could see values move up by about five per cent. Last year, despite the deep economic recession, private...
Singapore's investment property market seems to be shrugging off the global financial crisis and is staging a robust comeback. Property consultant C B Richard Ellis said Singapore's investment market performed much better than expected in 2009. It said total real estate investment sales came in at S$10.2 billion. While the figure is 43 per cent less than the S$17.9 billion number set in 2008, it is still...
Since the completion of The Metropolitan last June, prices of the 382-unit condominium located along Alexandra View have increasingly crossed the $1,000 psf level, even surpassing the peak in 2007. Last September, a historical high of $1,332 psf was reached when a 732 sq ft unit on the 24th floor was sold for $975,000. Prior to its completion, prices there had largely hovered below $1,000 psf since its...
roperty sales ended the final quarter of last year with a whimper rather than a bang as prices of private homes grew at a slower pace from the previous quarter. According to preliminary data from the Urban Redevelopment Authority (URA), private residential property prices rose 7.3 per cent in Q4, but this is only about half of the 15.8-per-cent growth posted in Q3 last year. Overall, the property price...
Private home prices rose 1.7 per cent overall in 2009, despite the recession, according to preliminary estimates by the Urban Redevelopment Authority. Prices of new homes in suburban areas outperformed the rest, rising at 11.2 per cent for the full year. However, market watchers said the demand and supply of these mass market homes are likely to ease this year. Their prices will also rise at a slower...
Singapore's private home prices rose 7.3 per cent in the fourth quarter of 2009, compared to the previous three months. This is according to flash estimates released by the Urban Redevelopment Authority (URA) on Monday. The pace has slowed from the near 16 per cent increase in the third quarter and the main rise was in the city fringe area where prices rose 9.5 per cent. This was followed by a 7.1 per...
Regency Park may be 19 years old, but the 292-unit condominium has recently been on the radar of property investors. On Nov 20, three caveats were lodged for its units, with average prices ranging from $1,584 to $1,727 psf. Alexz Wan, an associate with Propmax Real Estate and a property marketing agent who specialises in the project, says investors are betting that new launches in the neighbourhood will...
It has been a roller coaster ride for the Singapore property market this year, dipping in the first quarter before registering a sharp rebound. Market watchers have said housing prices will continue to rise next year, spurred by a recovering economy and the opening of the integrated resorts (IRs). The robust turnaround in the property sector was something no one would have predicted. Singapore entered...
Property deals in the Singapore market just got bigger in the final quarter of this year, according to global property adviser DTZ Research. The value of property transactions in the fourth quarter are larger compared to the trend of small deals in the first three quarters of 2009. Eight transactions above S$100 million each accounted for 77 per cent of total transaction value in the fourth quarter,...