Singapore's commercial and residential property sectors will remain attractive to investors in the medium to long term. Property watchers told Channel NewsAsia that is because of Singapore's status as an international financial hub. 2009 looks set to be a difficult year by all accounts, but market watchers said property investment fundamentals here remain strong. As global financial institutions cut...
singapore property market
Non-landed prime districtproperties to bear the brunt: DTZ THE fallout from the financial crisis is hitting the private home market hard, with one estimate putting the drop in private home prices at 21.6 per cent this year, a plunge not seen since the 1997 Asian financial crisis. DTZ's dramatic estimate is based on caveats lodged on Urban Redevelopment Authority's (URA) REALIS portal. However, other...
Private home sales in Singapore have taken a sharp fall in the fourth quarter of this year. According to a report released Monday by property consultant DTZ, only 112 private homes were sold in the primary market in October, and 192 units sold in November. This, compared to the monthly average of 444 units sold in the first nine months of the year. The October sales volume is the lowest since the...
... as prices of high-end private properties move down PRIVATE home launches and sales were up last month after a dismal October. The number of private residential units launched more than doubled from October's 159 to 382, and units sold increased from 118 to 192, according to the data released by the Urban Redevelopment Authority (URA) yesterday. Analysts said the jump in units launched reflects...
Sales of uncompleted private homes rebounded 63 per cent on month in November, after falling 70 per cent in October. Some 192 new units were sold in November. Data from the Urban Redevelopment Authority (URA) also shows that developers put out more units for sale. According to analysts, many developers had launched new projects in November after delaying launches in October, in the wake of the global...
The fallout from the US sub-prime crisis has filtered down to the property market in Singapore. Property consultancy CB Richard Ellis (CBRE) says total investment sales in Singapore properties fell 70 per cent from 2007, to S$17.83 billion this year. CBRE says one year on, the crisis in the US has made investors of Singapore properties more cautious. But the sharp slowdown in transaction volumes was...
Proportion of buyers with an HDB address looks set to increase WITH foreign buyers pulling out of Singapore's property market on the back of deteriorating global economic conditions, Housing Development Board upgraders are forming an increasingly important group of buyers here. According to a recent DTZ analysis of private property caveats lodged in the third quarter, purchasers with HDB addresses make...
Property agents said there's been an eight per cent jump in the number of private homes being put up for sale recently compared to previous two quarters. HSR Property Consultants said about half of the sellers have bought units under the Deferred Payment Scheme. The scheme which was scrapped last October allowed homebuyers to delay payments on new property until it is completed. Eric Cheng, executive...
There are limits to what Govt can and should do, says Minister WHEN it comes to dealing with weak demand in the domestic property market, developers and officialdom may not exactly be on the same page right now. And it couldn’t have been more evident during last night’s 49th anniversary dinner of the Real Estate Developers’ Association of Singapore (Redas). Delivering his prepared speech as...
The Singapore government will not introduce measures to stimulate demand or prop up prices artificially in the property sector. Speaking at an industry event on Wednesday, National Development Minister Mah Bow Tan said such efforts are not sustainable. However, the government will study suggestions by market players on how to help the property sector. Developers are feeling the heat from the economic...