Rental values are likely to continue to slide in 2016, though this dip is not expected to last for too much longer, according to real-estate consulting firm DTZ Southeast Asia. Consumer sentiments, coupled with the expected completion of retail developments such as OUE Downtown Gallery, The Heart at Marina One and Tanjong Pagar Centre this year, are expected to "exert further downward pressure on...
singapore property market
Prices of condominiums on the resale market slid by 0.8 per cent in December, despite an increase in the number of transactions, according to a local property index. The resale volume of non-landed private residential units rose 10 per cent from the previous month, with an estimated 519 units resold in December, SRX Property said. On a year-on-year basis, resale volume was up 44.2 per cent. However,...
Public housing has remained largely affordable to most Singaporeans, thanks in part to changes made to housing grants to keep them in line with rising income levels, but property observers would like to see a more accurate picture of housing affordability. In a media statement on Sunday (Jan 3), the Housing and Development Board (HDB) pointed out that in 2014, first-time home buyers used less than a...
Private residential property prices fell 3.7 per cent for the whole of 2015, extending a 4 per cent decline in 2014, according to Urban Redevelopment Authority (URA) flash estimates released on Monday (Jan 4). Prices fell 0.5 per cent in the fourth quarter of 2015, following a 1.3 per cent drop in the previous quarter, based on the private residential property index, which declined 0.7 points to 141.6...
After another year of subdued home buying activity, property analysts warned that the Republic’s private residential property market may be in for tougher times in 2016 as the lacklustre economic environment is likely to depress sentiment further. Adding to the woes is the United States Federal Reserve’s decision to start normalising interest rates, which is expected to keep prospective buyers on...
Resale prices of private homes dipped in November, according to the Singapore Residential Price Index (SRPI) estimates, which were released on Monday (Dec 28). The SRPI, compiled by the National University of Singapore's Institute of Real Estate Studies, showed overall prices decreased 0.6 per cent month-on-month in November, down from the 0.1 per cent growth in October. Prices of home in the central...
The property market could finally be showing signs of stabilising, two years after the Government introduced a slate of measures, including the Additional Buyer's Stamp Duty and the Total Debt Servicing Ratio. HDB resale prices have fallen about 10 per cent from their highs in 2013, while private resale prices have come off by about 8 per cent. After taking office, the new Minister for National...
Mortgagee listings in Singapore look set to hit a seven-year high by the end of 2015. According to property services firm Colliers International, 241 repossessed properties were put up for auction this year, up by almost 52 per cent from 159 in 2014. This is the highest since 2008. In a media release on Thursday (Dec 17), Colliers International said there were 555 owner listings in the property auction...
THIS year's tally of investment sales of property - big-ticket transactions of at least S$10 million - is set to be the lowest in six years, preliminary numbers from CBRE and Savills Singapore show. Still, the tally will not be as bad as that for 2009, when transactions dived during the Global Crisis. Savills' numbers reflect S$16.7 billion of deals so far this year (up to Dec 16), - about 11 per...