IT'S launches galore in the property market, as developers take advantage of improved sentiment to release their residential projects. Yesterday alone, three developers announced plans for the sale of two residential and one serviced apartment developments. Silversea, a 383-unit condominium in the East Coast area, will be launched this weekend by Far East Organization, with prices starting from $1,300...
singapore property market
More than 70 per cent of the 182 apartments released for sale at Vista Residences have been sold within a week of its launch. The 280-unit development in Balestier offers one-bedroom units and penthouses ranging from 617 square feet to 2,575 square feet. Prices started at S$960 per square foot and the average selling price was S$1,070 per square foot. The 130 apartments taken up were mostly bought by...
Singapore’s property sales increased in the second quarter, according to a report by property consulting firm DTZ released today. Homes in the city’s so-called core central area, known as districts nine, 10 and 11, rose 11.3% to $1,247 per square foot, DTZ said. Last quarter, prices fell 3.7%. Outside of those districts, average home prices increased 3.2% to $573 per square foot in the second...
There was a significant jump in the number of secondary market transactions at projects near the CBD earlier this month. In the Thomson area, at Sky@eleven, three units were sold in the first week of June for between $1,140 psf and $1,200 psf. The most recent transaction was a 1,851 sq ft unit on the 24th floor, which changed hands at $2.2 million or $1,200 psf. The seller had purchased the unit from the...
Property consultancy DTZ said strong buying momentum of private homes in Singapore has carried on into the second quarter this year. In its latest Singapore Property Market Report, DTZ estimated that sales in the primary market came up to between 6,700 and 6,900 units from January to June, surpassing the 4,264 units sold for the whole of last year. As such, the firm is forecasting that this year's sales...
Private home prices in Singapore have fallen for the fourth straight quarter, though at a slower pace. Initial estimates from the Urban Redevelopment Authority (URA) on Wednesday showed that the cost of private residential properties fell by 5.9 per cent in the second quarter, compared to the record drop of 14.1 per cent in the previous quarter - the steepest fall since 1975. Observers projected that...
Private home prices in Singapore have fallen for the fourth straight quarter, though at a slower pace. Initial estimates from the Urban Redevelopment Authority (URA) showed Wednesday that the cost of private residential properties fell by 5.9 per cent in the second quarter, compared to the record drop of 14.1 per cent in the previous quarter - the steepest fall since 1975. According to the latest...
Market watchers said prices of private residential properties could climb by between five and 10 per cent on average in the second half of 2009. Strong sales in recent months have driven prices up despite the economic slowdown. Concerns are being raised over a potential property bubble. Close to 6,000 units of new private homes have been sold so far in 2009. This has surpassed the over 4,200 deals done...
OCBC Investment Research has said mass-market residential projects are seeing strong demand, especially from local buyers, but it is still too early to call for a recovery in the property market. In its latest report on the property sector, OCBC noted that the recently launched 8@Woodleigh condominium at Potong Pasir was fully sold within two weeks, while Vista Residences in Balestier has also seen a...
The landed housing market has been particularly active in the past month. At Bowmont Gardens in Frankel Estate in the east,a terrace house with a land area of 1,539 sq ft was sold for $950,000, or $617 psf, last month. According to caveats lodged with URA Realis, this property changed hands three times in the last three years. It was sold at $938,000 in May 2007 and $800,000 in January 2007. At Duchess...