IF YOU are thinking of shopping for a private property this weekend, you may find your choices limited, as developers seem to be avoiding the start of the Hungry Ghost month when it comes to launching new projects. The Hungry Ghost month - the seventh month on the lunar calendar - is considered by some to be an inauspicious time to buy new property. This year, the Hungry Ghost month began on Thursday and...
singapore property market
Singapore-listed conglomerate Straits Trading Co quietly released 10 units at its Gallop Green project for sale last month. The 53-unit, low-rise development on Wollerton Park, off Holland Road, comprises a mix of 13 townhouses and 40 apartments. Since completion of the freehold Gallop Green in 2002, all units had been held by the developer for investment and were fully leased. The apartments are large...
A STRONG revival in property sentiment has propelled real estate investment sales in Singapore to surge in the second quarter to hit a total of $1.35 billion, according to latest statistics in a report by Colliers International. This was the highest level achieved since the third quarter of last year, said the property consultancy firm yesterday. The residential sector made up the bulk of the activity,...
SALES of private homes hit a new high for the second straight month in July, surging about 52 per cent from June. Low interest rates, relatively lower prices and a fear of missing the bottom are some reasons behind the strong sales. Although there were also signs of speculation, a significant portion of the sales was backed by real demand, said analysts. According to the Urban Redevelopment Authority,...
The most coveted address among the traditional prime residential districts is district 9, in the neighbourhood of Claymore Road and Claymore Hill, Ard more Park and Draycott Park and in the vicinity of the American Club and Tanglin Club, just off Orchard Road. Luxury condominiums in both existing and new developments in that area have soared above $2,000 psf in the last two months — which is pretty much...
Sales of uncompleted private homes reached a new high last month. The number of units sold surged more than 50 per cent from June, as improving market sentiments spurred more home buyers to snap up properties. A total of 2,767 units were sold in July, up from 1,825 in June. The developments that sold the most units last month were The Gale, Meadows@ Peirce, Waterfront Key, Sophia Residences and Parc...
WHEN National Development Minister Mah Bow Tan warned against property speculation recently, many - especially those in the real estate business - thought he was being a party pooper coming in to spoil the fun. He had said: "Some of the practices and habits that you saw in the last property boom are beginning to come back, so I think we'll have to be careful." The note of caution was appropriate and...
Despite Singapore's worst economic slump since independence, the residential property sector is in the midst of a new boom reminiscent of 2007, when the city-state was known as the world's hottest real estate market. Greed and its twin brother fear are back in play as punters stake out condo launches days before sales open, with some offering blank cheques to pre-book flats, prompting the government to...
With the opening of the $6 billion Resorts World at Sentosa fast approaching, there is a buzz of excitement as investors anticipate the influx of visitors expected in 1Q2010. To cater for a surge in tourists and locals to the island, a 620m $70 million walkway is being constructed and is expected to be completed in November 2010. As development at the upcoming casino gain traction, interest in properties...
Land prices in Singapore have slumped by up to 50 per cent since the property boom in 2007, according to market watchers. Weaker prices, coupled with recent strong demand for homes, could lure developers to replenish their land bank. As home buyers have been flocking to project launches over the past few months, analysts said developers are showing more interest in good residential sites. More than 7,200...