There has been a huge spike in activity in the investment sales market in Singapore during the second quarter this year. According to property consultancy CB Richard Ellis, total property investment sales in the period so far have amounted to some S$954 million. The amount is up by more than three times from the previous quarter. CBRE said Thursday the good showing was due to the sharp recovery in the...
singapore property market
Consider this: Rentals are sliding while residential property sales continue to scale new heights in the current troubled times. With almost half of recent buyers being potential investors with private addresses, could these people be punting on a rental recovery? If so, they may be staring at a wait of several years for the uptick. "I don't expect any rental recovery for the rest of this year," said...
As buyers thronged showflats amid improved sentiment in recent months, the resale market also saw an uptick in the second quarter, according to a report by Jones Lang LaSalle (JLL). Using recent housing data, the consultancy estimated that resale volumes increased more than 70 per cent from the first quarter to reach 1,464 transactions. The two main reasons were pent-up demand from Housing Development...
Prices of non-landed homes sold in Singapore in the second quarter of this year rose 28 per cent from the first quarter. CB Richard Ellis (CBRE) said the quarter-on-quarter increase was the largest for sales of new freehold non-landed residential projects. Prices of freehold units averaged S$938,000 in the second quarter, up from S$733,000 the previous quarter. A large proportion of the units sold were...
Developer Frasers Centrepoint said Tuesday 91 per cent of its 8@Woodleigh residential project has been sold following a weekend preview. The mass market development comprises 330 units, out of which 302 have been snapped up during the past four days. Frasers said it will now release the remaining units for sale and there will be no public launch. The 99-year leasehold property comprises a mix of two to...
The dramatic improvement in sentiment has already resulted in property prices creeping up over the past two months, particularly in the secondary market. According to anecdotal evidence, owners are sticking to their asking prices, with some even withdrawing their properties from the market in the hope of fetching a higher price later on. At the prestigious Ardmore Park, the bellwether for luxury...
Singapore has seen a drought of en bloc sales lasting more than a year. But analysts said that could change by the end of this year. They believe that with developers experiencing lower inventories, and government land sales still depressed, en bloc sales could present a more attractive option. More than 5,500 private homes have been sold in the primary market this year - already more than the total...
SALES of private residential properties surged to their highest level in nearly two years in May. According to the latest data by the Urban Redevelopment Authority released yesterday, overall home sales totalled 1,668 units last month, the highest monthly figure since the all-time record of 1,723 units was set in August 2007. Purchases of private homes in the prime districts, which include Holland Road,...
Sales of uncompleted private homes climbed 37 per cent on-month in May as improving market sentiments spurred more home buyers to snap up properties. A total of 1,668 units were sold last month, up from 1,214 in April. Home sales in the mid-tier market picked up pace in May. The developments that sold the most units last month were Martin Place, The Wharf, The Arte and The Mezzo. These four projects,...
If you're looking to buy a private high-end property, market watchers said the resale market appears to be offering better deals right now. They said discounts of up to 50 per cent can be found in the resale market for Singapore private properties compared to developer launches where prices may only be lowered by about 20 per cent. Property market sentiment appears to be recovering with developers...