Private residential property prices fell 1.1 per cent in the fourth quarter of 2014 - a larger decline than the 0.7 per cent slide in the previous quarter, and the fifth consecutive quarter of price decline, according to figures released by the Urban Redevelopment Authority (URA) on Friday (Jan 23). For the whole of 2014, prices fell by 4 per cent - the first year of overall price decline since 2008,...
singapore property market
Recent headlines suggest an oncoming storm - as property prices come down, speculators are clearing out the market, leaving banks holding the bag. In the case of Marina Collection in Sentosa Cove, lender UOB is suing the developer and several homebuyers after 37 out of 38 units there defaulted. Now, rising interest rates only seem to add to the gloom - since the start of the year, three-month SIBOR, a...
Demand for new private homes in Singapore fell sharply in December, according to latest data from Urban Redevelopment Authority (URA) on Thursday (Jan 15). According to the URA, developers sold 230 units of new homes last month, down 45.6 per cent from the 423 units sold in November 2014. During the month, developers launched just 53 new units for sale, excluding executive condominiums. The mass...
Resale prices of non-landed private homes inched up 0.1 per cent in December 2014 from the previous month, while resale volume remained flat, according to flash estimates from SRX Property on Tuesday (Jan 13). Year-on-year, resale prices dropped 4.2 per cent from December 2013. Compared with the recent peak in January 2014, prices have declined 6.1 per cent, SRX said. Resale prices of private homes...
Private home prices in Singapore are expected to ease for a few more quarters and according to a property analyst, that is because loan curbs - including the total debt servicing ratio framework that was introduced in 2012 - would continue to cool home buying interest. Numbers from the Urban Redevelopment Authority (URA) show that for the whole of last year, private home prices fell 4 per cent. Mr...
Private residential property prices fell 1 per cent in the fourth quarter of 2014, according to Urban Redevelopment Authority (URA) flash estimates released on Friday (Jan 2) - a larger decline than the 0.7 per cent slide in the previous quarter, and the fifth consecutive quarters of price decreases. For the whole of 2014, prices have fallen by 4 per cent, the URA said. Overall, the private...
Resale prices of private homes dipped slightly last month, according to Singapore Residential Price Index (SRPI) flash estimates, which were released on Monday (Dec 29). The SRPI, compiled by the National University of Singapore's Institute of Real Estate Studies, showed overall prices decreased 0.3 per cent in November from the previous month. In October, overall prices rose 0.4 per cent from a month...
Rentals of shoebox units could fall by five to ten per cent in the coming years due to an expected increase in supply, said property analysts. Shoebox units are small apartments - they include one-bedroom or studio units and are often bought as investments. About 6,200 shoebox units will be completed in the next two years. Property consultant SLP International said this is a record number - compared...
The Total Debt Servicing Ratio was introduced in late Jun 2013, but it was in the fourth quarter of the year that private home prices registered the first drop in almost two years. Since then, it has been on a downward trend and property watchers expect prices to continue falling in 2015 amid weakening demand and a large oncoming supply. Including executive condominiums, official estimates put the...
The number of homes put up for mortgagee sale at auctions surged seven-fold this year, property agency Colliers International said yesterday, warning that the worst had yet to come. Of 529 properties put up for auction this year, 159, or 30 per cent, were mortgagee sales, five times the 32 properties put up by lenders in 2013. Of the mortgagee sales, 123 or 77 per cent were for housing, more than...