Private home prices rose 3.4 per cent in the second quarter of this year, according to the latest figures from the Urban Redevelopment Authority (URA) on Friday (Jul 27). This continues a rising trend in the last three consecutive quarters, with prices rising 3.9 per cent in the first quarter of this year, 0.8 per cent in the preceding quarter and 0.7 per cent in the third quarter of last year. For...
The number of unsold private residential units reached a three-year high in the second quarter, based on data released by the Urban Redevelopment Authority (URA) on Friday (July 27). Property analysts said that while there is a risk of oversupply, the situation is not alarming over the longer term as developers are expected to reduce supply following the recent cooling measures. This is despite the...
Days after the release of Urban Redevelopment Authority’s flash estimates, the Government announced a new round of cooling measures, which caught many in the housing market by surprise. Authorities might have been right in principle to impose these harsh cooling measures, amidst a private property market heating up. The private housing market experienced an inflexion in prices last year after 15...
About 3,000 visitors flocked to the opening day preview for private project The Tre Ver in Potong Pasir on Saturday (Jul 21), just two weeks after higher stamp duties and tighter loan limits were introduced. Units at the 729-unit condominium, which will be completed in 2022, are priced from around S$1,400 psf. But even with the tighter loan-to-value limits, homebuyers Channel NewsAsia spoke to were not...
The Crest Condo Singapore is in the Heart of Hubs, a truly private estate in Prince Charles Crescent. From its majestic towering form of a glorious, growing tree to the elegant relies of its spring blossom arches, The Crest comes alive to symbolise life and a celebration of life's many peaks. Designed by Pritzker Prize winner Toyo Ito, The Crest provides a bright and airy living environment and an...
The imposition of new cooling measures introduced earlier this month could worsen the high supply situation of private residential units, the Real Estate Developers’ Association of Singapore (REDAS) president Augustine Tan said on Tuesday (Jul 17). The new measures include raising the Additional Buyer’s Stamp Duty (ABSD) and loan-to-value ratio in an effort to "cool the property market and keep...
Sales of new private homes slumped 20.2 per cent year-on-year in June, according to data released by the Urban Redevelopment Authority (URA) on Monday (Jul 16). Excluding executive condominiums (ECs), developers sold 654 private homes in June compared with 820 units in the same month last year. This was also a 41.7 per cent decrease from the 1,122 private homes sold in May - a nine-month high fuelled by...
Sales of new private homes excluding executive condominiums tumbled by almost a third in the first six months of this year compared to the same period last year, according to preliminary data from the Urban Redevelopment Authority (URA) released on Monday (July 16). The number of units launched also fell, with 3,518 rolled out in the first half of 2018 compared with 4,330 in the same period last...
Developers may trim prices of new launches by as much as 10 per cent from their earlier indications in response to the latest round of property cooling measures, with high-end homes likely to see bigger adjustments, analysts say. In downgrading their stock ratings across several developers, some have started pricing in a 5-10 per cent reduction in average selling prices (ASP) in their forecasts, though...
The latest round of property cooling measures may have caught the market by surprise with its speed and severity, with an analyst describing it as "a sledgehammer to kill a fly". However, the warning signs were there: High land prices, a jump in the number of new housing loans, and a wage growth lagging behind economic expansion were some of the red flags which prompted the authorities to take...
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