Resale prices of private homes fell again in August, according to the Singapore Residential Price Index (SRPI) flash estimates released on Monday (Sep 28). The SRPI, compiled by the National University of Singapore's Institute of Real Estate Studies, showed overall prices declined 0.6 per cent in August from the previous month. In July, prices fell 0.2 per cent from a month earlier. Prices of homes...
singapore property market
In its latest call for the Government to scale back on property curbs, the Real Estate Developers’ Association of Singapore (REDAS) cautioned about a collapse in the housing market, saying that a deterioration in economic sentiment, dwindling sales and greater upcoming supply would risk precipitating a downward spiral of property prices. “The property market is clearly heading for a different phase,...
With an impending oversupply of private residential homes, the Real Estate Developers' Association of Singapore (REDAS) has said it is ready to work with the Government to address the situation. REDAS estimates that there will be 67,000 new units by 2019, excluding executive condominiums. This represents 20 per cent of the total number of private residential units currently. Only 6,500 homes were...
For those holding out for a rollback of property curbs after an election victory by the People’s Action Party (PAP), the wait may be longer than anticipated. The pace of decline in home prices will need to double the 6.7 per cent drop from the peak two years ago before any of the restrictions are eased, said Chestertons Singapore and RHB Research Institute Singapore. “The winning of a...
Sales of private homes by developers slumped 69.3 per cent last month amid a quiet market with few launches. Excluding executive condominiums (ECs), developers sold 495 new units in August, down from the 1,611 units sold the previous month, data from the Urban Redevelopment Authority (URA) showed on Tuesday (Sep 15). Including ECs, 961 units were sold last month, down from 2,106 units in...
The resale volume of non-landed private residential units was up 16 per cent year-on-year in August, with 466 units resold, according to latest data from SRX Property released on Tuesday (Sep 8). However, compared to the previous month, resale volume declined 16.8 per cent from the 560 units resold in July. Resale prices inched up 0.2 per cent from July, driven by units in the Rest of Central Region,...
Resale prices of private homes remained unchanged last month, according to Singapore Residential Price Index (SRPI) estimates, which were released on Friday (Aug 28). The SRPI, compiled by the National University of Singapore's Institute of Real Estate Studies, showed overall prices stayed flat in July from the previous month. Prices of homes in the central region, excluding small units, increased...
The increases in income ceilings for households buying new Housing and Development Board (HDB) flats and Executive Condominiums (ECs), and the Proximity Housing Grant will drive more buyers to the public-housing market and hit the private residential sector, said analysts on Sunday (Aug 23). In his National Day Rally speech, Prime Minister Lee Hsien Loong announced the raising of the income ceilings for...
Sales of new private homes last month jumped to its highest level since the Total Debt Servicing Ratio (TDSR) came into effect two years ago, but the increase was driven by a single development and does not reflect an improvement in market sentiment, analysts noted. Developers sold 1,594 private residential units last month, more than four times the 375 units sold in June and thrice the 511 units...
New private home sales in Singapore rose more than four-fold in July from June – reaching a two-year high – with the bulk of sales involving one development. Data from the Urban Redevelopment Authority (URA) on Wednesday (Jul 15) showed developers sold 1,594 private residential units in July compared with 375 units sold in June. The 1,390-unit High Park Residences, located on Fernvale Road in...