Mr Li Ka Shing’s Cheung Kong Holdings, Asia’s second-largest developer by market value, said it is keen to invest in Hong Kong, China and Singapore as the region’s property market is undergoes a “small consolidation”. Prime offices and industrial parks offer investment opportunities because of economic “fundamentals” in the region, Cheung Kong’s Executive Director Justin Chiu said at a...
singapore property market
Foreign developers are upbeat about Singapore's property market, and despite signs of a slowdown, they see opportunities for growth. Although the government may be releasing fewer sites for sale under the Confirmed List, one of the largest property developers in Hong Kong is viewing the latest government land sales list with great interest. Cheung Kong Holdings is interested in the white site at Jurong...
PRIVATE property sales by developers remained weak last month, with 441 units sold. That may be up 55 per cent from the 284 units sold in April, but over 3,000 new units remained unsold. That was despite developers cutting their prices for homes in 18 developments last month. Median prices for The Verve along Jalan Rajah, for example, dropped 17 per cent from $1,187 per sq ft (psf) in March to $985 psf in...
There has been a sharp pick-up in the number of private home sales in May - more than 441 homes changed hands, about 56 per cent higher than the previous month. Despite the spike, analysts said it is premature to talk about any strong rebound in the property sector. Colliers International’s director of research and advisory, Tay Huey Ying, said: “I wouldn’t say that this set of May numbers give a...
Sentiments in the Singapore residential property market continued to weaken in the first quarter on the back of a possible recession in the United States. Private home sales dropped by 40 percent in the first quarter of this year compared with the last quarter of 2007, according to a report by DTZ Research. Transactions of private condominium units, based on caveats lodged, fell 41 percent to 2,500,...
Investors have been cautious about the property sector amid expectations that the muted residential property market will weaken further. But some property consultants are taking a slightly more positive stance, saying that this situation is temporary. Transaction volumes for private homes have been thin with developers holding back launches or cutting prices. And there's been a recent slew of bearish...
Developers have lowered asking price to bring in buyers Singapore’s much-anticipated property market slowdown is here. April saw a 58-per-cent dive in new property launches by developers as buyer sentiments soured. According to data released by the Urban Redevelopment Authority (URA) yesterday, developers put 271 new private homes on sale last month, down from 642 in March. Sales dropped by another...
Sales in the private residential market have dipped in April after a mild recovery in March. According to the numbers of private home sales released by the Urban Redevelopment Authority (URA), only 274 units were sold last month – down from 301 units in March. Developers were also holding back, with only 271 units launched in April – the lowest number of units since market weakness surfaced in...
Supply of homes, vacancy rates up, but buyers discouraged by high prices THE lacklustre property market seen in the first quarter of this year is likely to persist, with developers expected to launch more projects in the months ahead, increasing the supply of new homes even as buyers stay away. The prices of homes in both the private and public sectors rose at a much slower pace in the first quarter...
Prices of private residential properties increased by 3.7% in the first quarter of this year from the last quarter of 2007. Analysts said this could be due to the price discounts offered by developers for some units in the suburban areas. Dr Chua Yang Liang, Head of Research & Consultancy, Jones Lang LaSalle, said: "Here and there there are some anecdotal evidence of them giving some kind of rebates....