THE cautions have come in fast and furious as investors and speculators continue to plough into the property market, which has seen prices rising sharply in the last few months. Various parties - including the Monetary Authority of Singapore (MAS) - have issued warnings that if the economy proves to be weaker than expected, or if interest rates start rising in a rebounding economy, property buyers,...
singapore property market
Since June this year, transaction prices of apartments at the 910-unit City Square Residences in the secondary market have increasingly crossed $1,000 psf, hitting a high of $1,271 psf in August, when a 570 sq ft studio apartment on the 26th floor of one of the two 30-storey towers was sold for $725,000. Since October, however, more units have been changing hands in the resale market at prices above the...
Prices of resale landed homes in the prime districts of 9, 10 and 11 in the fourth quarter have reached levels that surpassed the previous peak in the first quarter of 2008. According to a DTZ Research report, the average price of freehold landed resale homes in the prime districts increased 4.6 per cent in the fourth quarter to reach a new high of S$1,447 per square foot (psf). This is about 12 per cent...
The value of non-residential properties here has more than tripled this year. Property consultancy Jones Lang LaSalle's auction house said on Thursday that the quantum of non-residential properties has jumped from last year's S$26.9 million to S$101.18 million to date. It said the rise is due to investors being attracted to the higher rental yield from non-residential property, compared with an...
Sales of uncompleted private homes continued to fall in November, making it the fourth consecutive month of decline. Just 600 units were sold last month, a 26 per cent drop over October. It was also the second time since January that private home sales have dipped below 1,000 units. November followed the trend in October, which showed a pickup in the number of high-end units being sold. More than half...
As many as 14,500 new homes are expected to be sold in the whole of 2009, second only to the record of 14,811 units in 2007. Despite the high volume of sales, property consultancy CB Richard Ellis (CBRE) said the caveats lodged to date showed that the total selling price paid for new homes in 2009 was 58 per cent of that in 2007. CBRE said this was likely due to the dominance of mass market and mid-tier...
Interest in waterfront homes at Sentosa Cove seems to have returned in recent months, as the opening of Resorts World at Sentosa looms. Since the beginning of November, a total of six properties — three luxury condominiums and three landed homes — have changed hands in the resale market at $1,406 to $2,423 psf. In the week of Nov 6 to 13, one of the 29 villas on Ho Bee Group’s Paradise Island — a...
Singapore appears to be losing a bit of its shine as one of Asia Pacific's top real estate investment markets. It slipped three notches among Asian markets in PwC's latest survey on where institutional investors prefer to put their money next year. Singapore was ranked number two last year. But it was placed number five among 20 cities in the latest report by PricewaterhouseCoopers (PwC). Shanghai was...
The completion of the upcoming Marina Bay Sands integrated resort next year and the VIP private preview of the 221-unit Marina Bay Suites have put the spotlight back on The Sail @ Marina Bay. Sales activity at the 1,111 unit The Sail has picked up pace in recent weeks. Nine transactions were done in the first week of November alone — versus 10 deals achieved for all of October. Prices achieved in the...
Industry players say the upcoming new measures to improve standards of the real estate sector here will not affect the property prices. The government has just finished gathering suggestions for a new regulatory framework for the industry. It will likely be introduced by the second half of next year. Industry practitioners said the government will likely introduce a central registry to list all...