Shares of several developers and real estate service groups fell on Friday (July 6), a day after tough property cooling measures were introduced by the authorities. The share price of Oxley Holdings dropped almost 16 per cent to 34 cents, while City Developments’ (CDL) shares closed at S$9.46, down 15.6 per cent. Wing Tai Holdings’ share price fell 6.9 per cent to S$1.89. Propnex and APAC realty...
The possibility of the Government introducing tightening measures to cool the property market "cannot be discounted", said DBS chief executive officer Piyush Gupta who noted that certain government agencies are "getting nervous" about the situation. Speaking on Thursday (July 5) at a luncheon on the bank's market outlook for the second half of the year, Mr Gupta was referring to the previous day's...
Eleven years after its failed attempt at a collective sale, condominium development Horizon Towers is on the market again at a reserve price of S$1.1 billion. The reserve price translates to S$1,964 per sq ft per plot ratio, and is more than double the S$500 million deal in 2007 with a consortium led by Hotel Properties that eventually fell through. The 99-year leasehold condominium at Leonie Hill...
The Monetary Authority of Singapore (MAS) managing director Ravi Menon has advised developers, home buyers and banks to exercise caution amid “euphoria” in the current property market. Mr Menon said that while the recovery seen over the past few quarters is welcomed, the rise in property prices should be in line with economic fundamentals and not get ahead of income growth. “There is euphoria...
Home prices are regaining the ground they lost since values started slipping five years ago with figures out yesterday underlining the buoyant market. The gains have been so robust that analysts are tipping that prices could hit a new peak by the end of the year. Their optimism stems from flash estimates showing that private residential values rose 3.4 per cent in the three months to June 30 - the...
Private home prices jumped to the highest in four years, based on flash estimates from the Urban Redevelopment Authority (URA) released on Monday (July 2). URA data showed that prices went up 3.4 per cent between April and June, following a 3.9 per cent increase in the previous quarter. Overall, the private residential property index increased 4.9 points from 144.1 points in the first quarter to 149...
Private home prices rose to its highest point in four years in the April to June quarter as transactions and new launches increased and liquidity from en bloc sales flowed into the market, with analysts predicting that prices could recover to 2013 peak levels soon. The price index for private residential property rose by 3.4 per cent to 149 points in the second quarter, extending a 3.9 per cent increase...
MAY'S firm pick-up in developers' property sales has prompted consultants to predict a take-off in the second half of the year as more new launches come onstream. While the year got off to a slow start - with residential launches lagging that of last year - developers' sales survey by the Urban Redevelopment Authority for May showed developers sold 53 per cent more private homes (1,121 units) than a...
Developer sales of private homes in May rose by more than half over April as the number of new units launched also saw a sizeable increase. The 1,121 private homes, excluding executive condominiums (ECs), that developers moved in May was up by 53.1 per cent from the 732 units in the month before, according to data from URA on Monday. This was the best monthly take-up since developers sold 1,246 new...
Sales of new private homes rose to the highest in nine months in May thanks to a deluge of new launches by developers, with suburban projects proving to be the most popular. Developers sold 1,121 private homes in May, an increase of 53.1 per cent from April and 7.9 per cent from the same month last year, according to data released by the Urban Redevelopment Authority (URA) on Monday (Jun...
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