Billionaire Kwek Leng Beng, head of Singapore’s second-largest listed developer, said last year that skyrocketing prices and restrictive rules made buying residential land here suicidal. That has not stopped international developers from rushing in. Land prices in some parts of the country are climbing at three times the pace of apartment costs, with plot values rising by an average of 30 per cent...
singapore property market
Property developer CapitaLand says it is unlikely to take an aggressive position in Singapore's residential property sector in this current market cycle. Group CEO Lim Ming Yan expects home prices to continue to moderating this year. Speaking to Channel NewsAsia at an earnings briefing on Wednesday, Mr Lim says the market consensus is for home prices to fall by five per cent to slightly over 10 per...
New private home sales in Singapore remained in the doldrums in January, as developers held back launches and lending restrictions depressed demand. According to data from the Urban Redevelopment Authority (URA), developers sold just 565 new private homes last month, up from December's four-year low of 259 units. Last month's figure was, however, well below the 2,028 units sold in January...
Singapore's property prices could fall by 10 to 15 per cent this year, as government cooling measures and mortgage curbs continue to dampen the property market. This is the outlook from DBS Bank's CEO Piyush Gupta. His comment came during the bank's results briefing on Friday. Since 2009, the government has rolled out a series of measures to rein in property prices, and the impact is...
The number of resale transactions in the non-landed private home market plunged 70.2 per cent in January compared to a year ago. Analysts attributed the decline to the effects of cooling measures and loan curbs introduced last year. According to the latest data from the Singapore Real Estate Exchange (SRX), which compiles data from property agencies in Singapore, 310 private homes were resold in...
It must be a developer’s worst nightmare to flip open the newspapers and read the bold headlines screaming that new home sales have plunged to their lowest level in five years: That was exactly what happened last week. Data from the Urban Redevelopment Authority showed developers sold a paltry 259 new homes last month, down more than 90 per cent from the record high in last March of 2,793...
Prices of resale private homes climbed 2.3 per cent in January, even as transaction volumes dropped 9.1 per cent over the same period. According to the latest data from the Singapore Real Estate Exchange (SRX), which compiles data from property agencies in Singapore, 310 non-landed private homes were resold in January 2014. Compared to a year ago, January's resale volume plunged 70.2 per cent. 1,039...
City Developments Limited's (CDL's) executive chairman and industry veteran Kwek Leng Beng has suggested that it may be the right time for the government to tweak the property cooling measures, amid concerns over the global economy. Mr Kwek gave his views during a speech when he was presented with a Lifetime Achievement Award at an event organised by the Real Estate Developers' Association of Singapore...
Some market watchers said demand for homes in the core central region could pick up as early as the second half of this year, as prices continue to moderate. Property consultancy Savills added that some unsold units in the city were even transacted at below valuation. According to recent marketing materials, Hijauan on Cavenagh is offering units at prices from as low as S$1,701 per square...
Prices of resale non-landed private homes declined 0.7 per cent in December after falling by 0.5 per cent in November, according to the flash estimate of the NUS Singapore Residential Price Index (SRPI). The drop was led by resale homes outside the central area where prices dipped 0.9 per cent last month, after a 0.1 percent decline in November. Resale prices for private homes in the central area...