Brokerage Nomura said prices of residential assets in Singapore will take a W-shaped recovery, instead of its previous forecast for a U-shaped upturn. In a research report, Nomura predicts that there will be a positive quarter-on-quarter rise in property prices in the third quarter this year. This could occur because developers have seized on the recent positive market sentiment to clear their...
singapore property market
Property agents receiving more enquiries about units at the Cove BUYING and selling activity is returning to Sentosa’s home market, the district billed as a premier waterfront living dream, after suffering lacklustre demand during the shock of the global financial meltdown late last year. The hard-hit months of October and November saw zero caveats lodged, according to data on the Urban Redevelopment...
WITH sentiment in the mid- to mass-property market improving, the focus is now shifting to mid- and high-end projects, said Merrill Lynch in a report. Developers, riding on the renewed interest, “will be looking to move up the market and start launching their mid- to high-end projects which have been previously held off”, the report said. For the potential upcoming launches, Merrill estimated that...
Singapore's property market is among the worst-performing in Asia for the first quarter of this year. A report by property consultant CB Richard Ellis (CBRE) found that Singapore's prime office rents recorded the region's worst contraction. Compared with the first quarter of 2008, prime office rents in Singapore fell by 34 per cent, followed by Hong Kong which was down by 32 per cent. In terms of retail...
Brokerage DBS Vickers said the Singapore private property market could pick up this year. In a research report, the firm said the prices of mass market private homes are likely to rise by the second half of this year if demand continues to hold. Mid-tier private residential homes, meanwhile, could see price stability towards the later part of the year. However, DBS Vickers added that the high-end...
AMID growing talk of economic green shoots, local developers of high-end private homes rolled out 339 units last month - nearly five times the number in March, according to statistics released on Friday by the Urban Redevelopment Authority. And they were not disappointed, as demand kept up with supply that month. Some 332 private homes in the prime Core Central Region were sold last month, marking the...
Private home sales in Singapore dipped slightly in April, but remained above the 1,000-unit mark for the third straight month. Latest figures from the Urban Redevelopment Authority (URA) showed that 1,207 units changed hands, about one per cent shy of the number of sales transactions in March (1,220 units). Demand for new private residential properties picked up recently because of lower home prices and...
PCOMING supply and concerns about payment defaults by customers on the deferred payment scheme (DPS) are some reasons the luxury residential segment is not out of the woods yet, according to UOB Kay Hian analyst Vikram Pandey. In a research report dated May 12, he said 2,665 units would hit the high-end market this year, followed by 3,182 next year and a whopping 5,245 units in 2011, based on official...
There have been few transactions at the luxury end of the condominium market this year. But the few sales in the secondary market that have surfaced in the most coveted prime residential address in Singapore, Ardmore Park and Claymore Road, according to the caveats lodged from March 24 to April 7, show that some owners are prepared to let go of their freehold luxury condos at prices below $2,000 psf. At...
Property prices across the board were down in the first quarter of 2009. Official figures released Friday showed that in the private property market, residential, office, shop and industrial properties decreased fetched lower prices both in terms of sales and rentals. As for HDB’s Resale Price Index (RPI) for public housing, it showed a fall by 0.8% in 1st Quarter 2009 over the previous quarter. This...