The Singapore government is boosting the supply of private residential sites in the first half of next year. It has announced new sites for sale, which could yield over 10,500 homes – the highest number of units since the Government Land Sales (GLS) Programme started in the second half of 2001. The Urban Redevelopment Authority (URA) said on Friday that in deciding supply, it looks at market conditions...
singapore property market
Market-watchers expect keen competition for the eight residential sites on the confirmed list under the Government Land Sales (GLS) Programme for the first half of next year. But land prices may not necessarily come down. Analysts also expect more foreign developers to bid for sites over the next three to six months, keeping prices competitive especially for popular locations. Donald Han, managing...
Even as demand for private homes tapers off, there continues to be a strong take-up for condominium units in the Flora Road area off Loyang Avenue, with 11 transactions of between $550 and $715 psf between Oct 2 and 9, according to caveats lodged by URA Realis. Though it may be about a 20-minute drive from the CBD, this area is being transformed by the growing number of companies moving to Changi and...
There was a flurry of activity in the Newton Road area, with five transactions of between $1,100 and $1,676 psf carried out from Sept 25 to Oct 2, according to caveats lodged with URA Realis. The highest psf transacted price for that week was seen at a 1,216 sq ft, 10th-floor apartment at Newton One — it was sold for $2.038 million or $1,676 psf. Another transaction that took place in the same tower was...
Singapore’s private home prices rose 15.8% in the third quarter, the most in 28 years, as cheap money and improving economic conditions lured buyers. The price index of private residential property jumped to 154.3 from 133.3 the previous quarter, the Urban Redevelopment Authority said on its Web site today. The increase was the first in more than a year and the biggest quarter-on-quarter gain since...
Private home prices rose 15.8 per cent in the third quarter compared to the second quarter - slightly lower than the initial forecast of a 15.9-per-cent rise made by the Urban and Redevelopment Authority (URA) in early October. The rise in prices between July and September is a sharp turnaround from the 4.7-per-cent fall seen in the second quarter, and snaps four straight quarters of decline. According...
There was a flurry of transactions at the 25-year-old Regent Court recently. The 49-unit freehold condominium failed to sell en bloc for $34 million, or $528 psf, after it surfaced last December that the stamp duty for the en-bloc sale agreement in 2007 had not been paid by Regent Development, a nominee of Landquest Pte Ltd. Earlier, some owners also opposed the deal as they claimed that the sales proceeds...
Apartments at Casa Merah changed hands at above $800 psf in the secondary market between Sept 11 and 18. The surge in price was probably because of the successful launch of neighbouring Optima @ Tanah Merah in August. The new development, which will sit next to Casa Merah along Tanah Merah Kechil Avenue, saw apartments sold at above the $800 psf level. As at end-August, all the units at The Optima were...
Sales of uncompleted private homes took another dip in September, the second month of decline, after hitting a record high in July where 2,772 units were sold. A total of 1,143 units were sold last month, a 36.6 percent fall from August. Market watchers said this level of activity is more sustainable going forward. 5,719 units were sold in the third quarter alone, more than the whole of last year. But...
There’s been a spurt in sales at Nuovo in Ang Mo Kio recently, after the executive condominium (EC) crossed the five-year minimum-occupation period. Seven units changed hands from Sept 4 to 11, according to caveats lodged with URA Realis. In 2006 and 2008, there was only one transaction each, and two deals in 2007. Owners who sold recently are taking advantage of the “Centro-effect”, caused by the...