Hopes of a quick turnaround in the property market here are fizzling out. Property consultancy DTZ said the probability of a full recovery in the Singapore property market by the end of this year is low. In a research report issued on Wednesday, DTZ predicted there is only a 0.1 per cent chance that the Singapore office rental market will recover by year-end. The residential market here is not faring...
singapore property market
Singapore's property market turned in a poor showing in the first quarter as developers and home-buyers braced themselves for a prolonged downturn. But analysts said there are cash-rich individuals out there who might inject life into the Singapore market in the coming months. They said these individuals with deep pockets have been doing their homework in recent months and are now ready to close in on...
TWO months of strong home sales may have sparked hopes of resilience in certain parts of the property market here, but the sector is still plagued by problems, said a CIMB-GK Securities report yesterday. A supply overhang - due to default threats from deferred payment scheme buyers - and potential price falls in the high-end market, continue to weigh on property fundamentals, said Mr Donald Chua, who...
Sales of private homes dipped 8 per cent in March to 1,220, compared to 1,323 in February. Latest data from the Urban Development Authority (URA) showed that new properties in suburban areas saw strong sales. Double Bay in Simei saw the biggest sales, with 264 units changing hands. Mi Casa in Choa Chu Kang came in second with 101 units sold. Properties located just outside the city also drew strong...
Singapore's investment property market was quiet in the first quarter of the year, as the global recession continues. The first three months of 2009 saw only 10 investment transactions, compared to 15 in the fourth quarter of last year. All the deals were below S$40 million. Real estate adviser DTZ said all the investment sales in the first quarter took place in the private sector. This is partly due...
Singapore’s residential property market is likely to bottom only at some point of time in 2010, says a new report from Bank of America Merrill Lynch. The US investment bank noted that although local residential prices have already fallen 21% from the peak in mid-2008, they are likely to fall at least another 30% this year and a further 10% early next year before they stabilise. Indeed, Merrill...
Prices for private property and public housing fell steeply in the first three months of the year. In the Housing and Development Board (HDB) resale market, the first drop since 2006 was seen. HDB's flash estimate, based on its Resale Price Index, showed a decline of 0.6 per cent in the first quarter compared to the fourth quarter of last year, which had registered a 1.4 per cent increase. Still, some...
The sale of private residential properties shot up more than tenfold in February to 1,323 units, compared to just 108 in January. Homebuyers thronged the showflats of mass-market projects like The Caspian in Boon Lay and The Alexis in Alexandra, and they propped up the property sales figures in February, accounting for more than 70 per cent of the units sold for the month. Property-watchers said those...
Owner-occupiers of older condominiums and HDB properties are capitalising on affordable pricing to upgrade to new and larger apartments THE BEST TIME to buy property, says K S Quek, a 45-year-old businessman who runs an electronic equipment servicing company with his wife, “is during a downturn”. The Queks did just that in the last property slump when they bought their current home, a fourth-floor...
Despite the recent pickup in activity in the residential property market, developers may start offering even greater incentives to attract buyers. Analysts say it is still too early to say for sure that the market has hit bottom, and developers may have to do more if conditions weaken. A new project, Double Bay Residences, has been launched for sale, and like several recent offerings, the developer is...