THE first part of this article ("Singapore property may be heading for long-term drop in value", BT, April 20) touched on three of the six "defects" in our property market that might lead to a long-term decline in property values. The first three points are: the issue of demand being exhausted with the last six years of massive supply; the Additional Buyer Stamp Duty; and the Total Debt Service Ratio...
singapore property market
Sales of private homes last month more than doubled in March, rising by 178 per cent from the previous month as developers launched more units. Excluding executive condominiums (ECs), developers sold 843 new units in March, up from the 303 units sold the previous month, data from the Urban Redevelopment Authority showed on Friday (Apr 15). Including ECs, 1,328 new units were sold last month, up from 433...
A SERIES of cooling measures progressively introduced in the last six years has led to a patchwork quilt covering the property market that is now uncomfortably scratchy and somewhat suffocating. Calls to relax the cooling measures began to ring out two years ago. In recent months, developers, property agents and industry associations have repeated their calls, with some predicting that measures may be...
Resale transactions for non-landed private homes surged 47.6 per cent last month from the previous month, rebounding after four straight months of decline as prices inched higher, but analysts say it remains to be seen if the market has bottomed out. Resale volume jumped to 577 homes last month from the 391 units registered in February, flash estimates from SRX Property showed on Tuesday (April 12), the...
THE successful launch of two condominium projects in March has lent a boost to new-home sale transactions in Singapore. This has also reinforced the market's belief there remains strong underlying demand for good-quality residential properties at the right price, despite the quiet months of January and February. According to data released by the Urban Redevelopment Authority (URA) on Friday,...
Prices of condominiums sold on the resale market edged up 0.3 per cent in March, while the number of units sold spiked 47.6 per cent, according to a local property index. Non-landed private residential units in the Outside Central Region led the rise, with a 1.3 per cent in resale prices, SRX Property said. Resale prices of units in the Rest of Central Region edged up 0.1 per cent in resale prices,...
Rental prices for Housing and Development Board (HDB) flats and non-landed private properties continued their downward trend in March, led by private apartments in the city fringes. Rental prices for private apartments fell by 1 per cent in March compared to the previous month. Year-on-year, rents were down 5.3 per cent, according to flash estimates by SRX Property. Private apartments in the city...
It is “too early to declare victory” and unwind the property cooling measures currently in place, said Minister for National Development Lawrence Wong in the Committtee of Supply debate in Parliament on Monday (Apr 11). Responding to MPs who had called for the cooling measures to be lifted, Mr Wong explained that while the measures “have been effective in stabilising the property market”,...
PRICES of non-landed private homes in the resale market inched up 0.3 per cent last month, compared with February, SRX Property estimates. This was buoyed by the Rest of Central Region (RCR) and Outside Central Region (OCR), which posted 0.1 per cent and 1.3 per cent price increases respectively. Resale prices in the Core Central Region (CCR) however slipped 1.7 per cent last month. For the overall...
SINGAPORE'S Minister for National Development Lawrence Wong on Monday maintained that the property cooling measures have been effective in stabilising the property market and it remains "too early to declare victory and unwind the measures". A week ago, Member of Parliament Christopher de Souza (Holland-Bukit Timah) had reiterated his call for the government to take a gradual approach in easing the...