A bad month for home sales could be followed by upturn JANUARY was a ghastly month for the private home market. Sales hit a two-year low, as the prime downtown areas saw zero launches and just about half of all units launched that month ended up finding buyers, according to official statistics released yesterday. But even though the overall market has kicked off 2009 on a whimper, the mass-market segment...
singapore property market
Private home sales further slowed in January, according to the latest Urban Redevelopment Authority (URA) figures. Some 107 deals were completed last month, compared to 131 in December. Property agents said this was the lowest level recorded in the last two years - even lower than last October when global stock markets slumped. Even so, developers placed more projects on the market, with 204 units...
Private home sales further slowed in January, according to the latest Urban Redevelopment Authority (URA) figures. Some 107 deals were completed last month, compared to 131 in December. Property agents said this is the lowest level recorded in the last two years - even lower than last October when global stock markets slumped. Even so, developers placed more projects on the market, with 204 units...
Analysts caution that banks here may not rush into home foreclosures THEY are flocking to the auction houses, hoping to find bargains. But each time the starting price is called out, there are audible sighs and shaking of heads. Still too high, say those who have been frequenting property auctions in recent weeks. Expectations are growing for some fire sales in the local property market, which is...
Analysts don't expect supply glut as developers likely to defer construction of housing projects WHEN long queues outside showflats disappeared overnight during the 1997 Asian financial crisis, the poor demand combined with a supply glut to exacerbate the slump in Singapore's property market. A decade on, the supply side of the equation may be less dire, say pundits. In an analysis of the "supply...
Property consultancy firm DTZ Research said it will take 5.5 years to clear the inventory of unsold private residential units in Singapore as at the end of 2008. There are now 44,661 unsold private residential units. DTZ said based on a 10-year average take-up rate of 8,000 units, selling them all will take more than five years. In its latest report, DTZ said last year's unsold inventory was much lower...
BUYERS of new private homes don't have to worry about not being able to move in on time even as some developers take advantage of incentives announced in Thursday's Budget that allow them to extend the completion period of their projects. To help developers improve their cash flow and give them more flexibility to plan their projects, the Ministry of National Development will allow developers of...
The economic downturn is hitting home, with private residential prices recording their steepest drop in a decade. Private home prices fell by 6.1 per cent in the fourth quarter of 2008, worse than an early estimate of a 5.7 per cent drop. The quarter-on-quarter decline in the October to December period follows a 2.4 per cent drop in the third quarter ended September. Strong demand pushed up private home...
The value of property investment sales in Singapore hit a record low in the fourth quarter of 2008. In its latest report, real estate consultancy Colliers International said total investment sales in the three months to December fell by 93 per cent on-year to nearly S$577 million. This is the lowest since the property market picked up four years ago. It also represents a drop of 68.8 per cent from the...
THE grey clouds hovering over the private property market here have gotten even darker. Islandwide launches of new private homes last month slumped to a record low since the Urban Redevelopment Authority (URA) started releasing the monthly data in June 2007. Developers placed just 157 units for sale last month, down nearly60 per cent from November. And out of these, they managed to sell 131...