The Republic's private home prices are still inching higher - albeit at the slowest pace in five quarters - even after the government imposed additional property curbs to avoid the risk of a sharp correction that could be destabilising to the city-state’s economy. An index tracking private residential prices increased 0.5 per cent in the three months ended Sept 30 compared to a 3.4 per cent advance in...
The rise of private home prices slowed sharply in the third quarter after the government announced measures to cool the red-hot market, data released by the Urban Redevelopment Authority (URA) on Monday (Oct 1) showed. Private home prices rose 0.5 per cent in the July to September period, a sharp slowdown from the 3.4 per cent rise in the second quarter and 3.9 per cent rise in the first quarter....
Going by recent government data, demand for one-bedder apartments, typically favoured by investors in the new home sales market, seems to have moderated, and the buying trend seems to have shifted to slightly larger units. According to an analysis of caveats by OrangeTee & Tie, small units below 500 sq ft, usually the size of one-bedders, accounted for 63 units or 11 per cent of new home sales in...
Barring unforeseen circumstances, it will take around five years for the market to fully absorb almost 46,000 private residential units that could potentially come onstream by 2020. And as a result of the "sedate" property market, developers are adopting a more "prudent approach" when acquiring land and allocating capital, said Real Estate Developers' Association of Singapore (Redas) president Augustine...
Sales of new private homes fell 50.6 per cent year-on-year in August on the back of cooling measures introduced by the Government in July. Excluding executive condominiums (ECs), developers sold 616 units in August, about half the 1,246 units sold in the same month a year earlier, according to data released by the Urban Redevelopment Authority on Monday (Sep 17). On a month-on-month basis, sales...
The lacklustre rental market for both private and HDB properties dragged on for another month, going by data from real estate portal SRX on Wednesday. Rents for condominiums and private apartments in August dipped by 0.1 per cent from July, after being unchanged since May. This brings private rents back to year-ago levels, that is August 2017. Private property rents are also now down by 19.1 per cent...
Resale prices of private non-landed homes fell last month, ending a 12-month climb to record highs, after the latest property cooling measures came in effect in July. Resale prices of condominiums and private apartments dropped by 0.2 per cent in August from the previous month, real estate portal SRX Property's flash estimates released on Tuesday showed. Compared to August 2017, resale prices are up...
Developer sentiment has dampened significantly following the government’s announcement of new cooling measures, according to a survey conducted by the National University of Singapore (NUS) and the Real Estate Developers’ Association of Singapore (REDAS). Outlook for the prime residential and suburban residential sectors were the hardest hit; office, business park/hi-tech space and hotel/serviced...
According to the National University of Singapore’s (NUS) flash estimates for its Singapore Residential Price Index (SRPI) released on Tuesday, prices of completed non-landed private homes continued to lose momentum in July, declining 0.5 per cent month-on-month after a slower appreciation in June. In June, prices rose 0.7 per cent, down from a positive 1.6 per cent pace in May. The July decline...
More properties were auctioned in the first half of the year but the sales value was down markedly on the same period last year due to the lack of big-ticket landed units. Transaction value came in at about $39.6 million, a fall of 11.2 per cent compared with the same six months last year, a Knight Frank report showed. It noted that demand for large quantum properties remained patchy due to the...
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