YOU might have noticed that there are fewer ads for home launches. Perhaps you have also overheard that some condominiums in a prime area just went for a price you could only dream of a year back. Yesterday, official data bore out the coffee-shop talk that has been making the rounds. Reflecting weak consumer confidence, private homes sold and launched last month plunged to their lowest since June last...
singapore property market
Only 159 private homes were launched in October this year - the lowest in more than a year. The slide of almost 80 per cent from the 767 units launched in September is due to poor economic conditions, and the technical recession that has hit Singapore. About 194 units launched in August 2008, during the traditionally slow market in the seventh lunar month. The central region made up almost half the new...
New home sales in Singapore dived 70 per cent in October compared to September as home buying sentiment continued to sour. According to Urban Redevelopment Authority’s (URA) data, developers sold 112 new and uncompleted private residential homes last month, versus the 380 units sold in September. They launched just 159 units for sale, compared to nearly 767 in September. The most expensive unit sold...
Impact of any delay likely to be greater in luxury segment THE uncertainty surrounding the two integrated resorts projects — in particular, the Marina Bay Sands — is unsettling already fragile sentiment in the property market. After all, the prospects for economic benefits from the IRs have been positive for the market. But recent developments and positive announcements from the operators have eased...
There may be many good buys available at the height of the fear cycle AS A novelist, Charles Dickens’ works appeal to readers of all generations because he understood the psyche of the human race. He realised that we are people of extremes. When things are bad, we often see them as worse than bad. Conversely, when things are good, we are inclined to see them as better than good. During current times,...
THE leasing market has become the latest casualty of Singapore’s weakening property market, with both residential and office rents posting their first declines since 2004 in the third quarter of this year. According to Urban Redevelopment Authority figures released yesterday, rentals of private residential properties fell 0.9 per cent in the third quarter, compared to a 2.5 per cent rise in the second...
Prices of private residential properties in Singapore dropped 2.4 per cent in the third quarter of this year from the second quarter, snapping four years of growth. The figure fell short of an initial estimate of a 1.8 per cent decline, on the back of an economic downturn. Costs of high-end properties in prime districts continue to trend down, dipping 2.7 per cent, while prices in mid-tier and mass...
Property developers sell just 376 units last month despite launching four times as many units SALES of private homes continued to languish last month, with the poor sales in August - the Hungry Ghost month - proving to be more than just the usual annual blip. It was more of a sign of things to come, as the ongoing financial turmoil takes its toll on home-buying sentiment. According to data released...
Sales of private homes in Singapore improved 17.5 per cent in September, compared to the previous month. But analysts said the pickup fell short of expectations, given the low base in August caused by the Hungry Ghost Festival. The seventh month of the Lunar calendar is traditionally regarded as an inauspicious period and buyers usually refrain from making purchases during that time. Almost 300 per cent...
Early estimates show prices of private residential properties fell for the first time in four years in the third quarter. Concerns are that times ahead may be rough. Still, about one-third of MCL Land's latest mid-range condominium project - The Peak@Balmeg - was snapped up over the last two days during its private launch. Among the visitors at the launch were Panneer Selvi and her family who have been...