IN a move seen as boosting the transparency of the property market, the Urban Redevelopment Authority (URA) will from this month require developers of delicensed projects to submit the net prices of units sold. The URA will use this data to compute its widely-watched private home price index from this quarter. This will align the price information for developers' sales in delicensed projects with the...
singapore property market
Never mind that Singapore is experiencing one of the worst property slumps in its history, demand for luxury housing is suddenly coming from an unexpected group: wealthy Indonesians. This year's purchases by Indonesian nationals of homes valued at S$5 million or more have already nearly quadrupled from last year's total. The stepped-up buying coincides with the passage of a law in Jakarta aimed at...
RESALE prices of non-landed private homes in Singapore eased 0.8 per cent in August 2016 over the previous month, based on SRX Property's flash estimate for last month released on Tuesday. This follows a revised 0.7 per cent month-on-month decline in the index for July 2016. SRX Property had earlier indicated a 0.4 per cent drop for July based on its flash estimate for that month. Giving a...
In the final part of a two-part series, Bernard Tong, managing director of The Edge Property, assesses the advantages of buying condominiums that are selling closer to cost. I spent some time off recently at Surin beach in Phuket, basking under the sweltering sun. At times, the heat became unbearable. Beach peddlers were selling chilled coconut, the perfect drink to quench my thirst - if not for the S$5...
We can all fondly recall that one euphoric moment when we discovered a great bargain and took advantage of it, whether it was for a 50-inch TV at a promo price of S$399 or that pair of sneakers you always wanted at half the original amount. But when it comes to buying properties, how easy is it to assess what is a good bargain? Recently, CapitaLand rolled out a stay-then-pay scheme coupled with a 15 per...
PRICES of completed private apartments and condominium units in Singapore crept up 0.2 per cent in July over the preceding month. This is according to the National University of Singapore's (NUS) July 2016 flash estimate for its Overall Singapore Residential Price Index (SRPI) released on Monday. The July increase in the index follows a 0.7 per cent month-on-month gain in June 2016, based on the...
Sales of new private homes rebounded last month as more projects were launched in July. Excluding executive condominiums (ECs), property developers sold 1,091 units in July, around double the 536 units sold in June, data from the Urban Redevelopment Authority (URA) showed on Monday (Aug 15). Including ECs, 1,921 units were sold, up from June’s 768 units. Of the sites launched, private development...
The growing vacancy rate in the private housing market is something property developers have been harping on for the past couple of years. At 8.9 per cent, official data shows the vacancy rate for private residential units at a 16-year-high, nearing levels seen in the aftermath of the 1997 Asian financial crisis. Based on a March report by property firm Colliers, the number of mortagee sales – at 70...
THE private housing market regained some momentum last month, as developers sold 1,091 private homes (excluding executive condominiums), more than double the 536 units sold in June. Consultants attribute the marked increase to the pick-up after the mid-year lull. June is when buyers tend to hold off buying and developers hold back new launches due to the school holidays. But consultants say July's...
DESPITE a 0.5 per cent month-on-month decline in resale prices of condos and apartments in the Core Central Region (CCR) in July 2016, prices in the region were up 6.2 per cent year on year. This is according to SRX Property flash estimates for last month released on Wednesday. The CCR has outperformed the other two regions tracked by SRX's resale price index for non-landed private homes, on a y-o-y...