Revenue from government land sales fell 41 per cent to S$7.3 billion in the last fiscal year ended March 2009. But analysts said despite the decline for the full year, land prices have actually risen 30 per cent in the past six months and there are some concerns that this could lead to another property bubble. Showflats have been packing in the crowds for many months now. Demand for land has also picked...
singapore property market
Property consultancy DTZ said on Thursday investment sales here tripled in the third quarter of this year. Total property investment value in the July to September period jumped 200 per cent on-quarter to S$2.3 billion. Historically though, the figure is still below the S$4 billion to S$12 billion mark achieved quarterly between 2005 and 2008. DTZ attributed the increase in investment sales in the third...
Mainboard-listed high-end property developer, SC Global, said on Wednesday it has sold six units of its project at Sentosa for record prices. The units of its Seven Palms Sentosa Cove development were sold at an average price of about S$11 million per residence, with prices ranging between S$3,100 and S$3,400 per square foot. These are higher than the previous peak of about S$2,734 per square foot for a...
Sales of small non-landed private properties in Singapore have hit an all-time high, even before the year has ended. According to property consultant CB Richard Ellis, 412 units with a size of 500-square-feet or smaller have been sold this year so far. This is a stark contrast to 1995, when just one unit of that size was sold. CBRE said it has seen a rising trend in the popularity of such small homes -...
Property developers in Singapore are calling for the government to release more land sites in less central areas so that they can build more affordable mass market homes. On the sidelines of a lunch hosted by the Real Estate Developers' Association of Singapore (REDAS) on Friday, industry players said demand for private homes will continue to rise and push up prices. It said most of the recent...
In the latest caveats for the week of Aug 28 to Sept 4, there were four transactions for apartments in the $7 million range, mainly for existing freehold projects in the luxury prime districts of 9 and 10. One is a 3,477 sq ft second-floor unit at the 32-year-old Nassim Mansion, a luxury freehold 72-unit development on Nassim Hill in a neighbourhood of Good Class Bungalows. It was sold for $7.5 million...
Singapore private property prices in the third quarter saw the steepest quarter-on-quarter increase since 1981. The Urban Redevelopment Authority's (URA) flash estimates showed private home prices rose 15.9 per cent in the third quarter - a sharp turnaround from the 4.7 per cent fall in the second quarter, and snapping four straight quarters of decline. Overall, prices are back to where they were at the...
Property consultant DTZ said sales of private homes here this year are likely to be higher than the record of 14,800 units sold in 2007. In a report, DTZ said there was a "frenzied" level of activity seen in the third quarter this year. That led to a record number of more than 2,700 homes sold in July. DTZ is forecasting that the record of some 5,100 units sold in the second quarter of 2007 will be...
There has been a pick-up in sales of landed property at Frankel Estate recently. An established landed residential enclave, it’s located within a short driving distance of the Kembangan MRT station and within walking distance of eateries along Siglap Road. It is also in the proximity of good schools like Victoria Junior College, St Patrick’s School and Tao Nan School. According to caveats lodged with...
Increased sales strongly suggest that buyers are convinced property prices have bottomed, or are low enough for them to re-enter the market, writes EMILY ENG GIVEN the recent euphoria in the residential market, it is no surprise that it has become a hot topic of discussion. Isn't Singapore still in recession, people wonder. Unemployment is still high, with an estimated 116,600 jobless residents as at June...