After 4-1/2 years, prices dip 1.8%; turmoil may force owners’ hands THE tide has finally turned, in one analyst’s words. After more than four years, or17 consecutive quarters, of growth since early 2004, the prices of private homes posted their first decline of 1.8 per cent. And coming as this does amid a period of global financial turmoil, the flash figures herald challenging times ahead for home...
singapore property market
Private home prices in Singapore fell by 1.8 per cent in the third quarter, according to flash estimates released on Thursday by the Urban Redevelopment Authority. This is the first time the index of private residential properties has dipped in four years to 174.3 points in the third quarter, compared to second quarter's price index of 177.5 points, which was a 0.2 per cent increase over the previous...
Prices of resale flats rose a preliminary 4.2 per cent in the third quarter of this year. HDB said on Thursday that the figure is just slightly lower than the 4.5 per cent increase in the second quarter. For the year-to-date, prices of resale flats have risen almost 13 per cent. HDB said it has to date launched about 5,000 of the planned supply of 8,400 Build-To-Order (BTO) flats for 2008. Subject to...
Sales of new private residential homes slipped 64 per cent to 320 units in August, as compared to over 890 units sold in July. Market watchers say this is the weakest transaction volume since April 2008. At the peak of the property boom in August 2007, over 1,700 units of private homes were sold, and the 320 units sold in August 2008 was 81 per cent lower year-on-year. However, the low take-up was not...
Sales of private homes by Singapore developers dropped by 56 per cent for the year ended June 30, with only about 7,200 units being sold. However, Real Estate Developers' Association of Singapore (REDAS) believes private home prices will not drop sharply this year, despite the tight credit market and economic slowdown. President of REDAS, Simon Cheong, said: "If it drops, it will not be much more. This...
But analysts divided over 2010 ‘nightmare scenario’ DESPITE healthy profits reported for subsales in the first seven months of the year, there seems to be an uneasy air looming over the property market - in particular, the slowing mid- and high-end residential segments - these days. The coffeeshop chatter found its way into public discourse last month when Wing Tai Holdings’ chairman Mr Cheng Wai...
Auction sales of properties in Singapore hit a record high in August at S$22.7 million, 37 per cent higher compared to a year ago. The increase was mainly due to the sale of four residential infill land sites by the Singapore Land Authority (SLA), despite taboos associated with property purchase during the Hungry Ghost month. The report by Collier's International said this confirms that investors are...
But sector’s outlook still cloudy on slower growth DEVELOPERS sold 897 private homes out of the 1,322 launched last month, the highest number since last August, according to monthly data released on Friday by the Urban Redevelopment Authority (URA). This represents a 68-per-cent take-up rate. While the sales were a modest increase from June, when 1,069 units were launched and 801 sold, there was little...
New home sales rose for the third month in a row in July. However, the pace of growth slowed significantly, with developers launching more homes than they could sell. According to latest figures released by the Urban Redevelopment Authority (URA), buyers picked up some 900 new private homes last month, 12 per cent more than in June. This comes after new home sales almost doubled between May and June. But...
Some frightened investors selling homes cheap: Developer AS HIGH-END home prices fall, Mr Kwek Leng Beng says there are now some bargains available for smart investors. “What has gone up very high in a straight line will also come down,” said the executive chairman of one of Singapore’s biggest developers, City Developments (CDL). And as prices fall, Mr Kwek said there will be some desperate...