The property market here may be losing its shine, as Singapore falls out of the top five Asia-Pacific real estate investment destinations for next year in a joint survey of industry professionals by PricewaterhouseCoopers (PwC) and the Urban Land Institute (ULI). The PwC-ULI report, Emerging Trends In Real Estate Asia Pacific, found that Singapore fell to seventh place for 2014 from third place this...
singapore property market
It was no surprise that some developers tried to secure adjacent private housing plots in two Government Land Sales tenders that closed simultaneously last Thursday. The only question was how strong the interest would be and whether this batch tender method would help moderate or even lower land prices. The experiment by the Urban Redevelopment Authority (URA) of closing the tenders for the two adjacent...
Singapore's household net wealth has grown over the past 10 years and now stands at about four times GDP as at the third quarter this year. But the Monetary Authority of Singapore (MAS) warns that some over-leveraged households may be vulnerable when interest rates increase. In its annual financial stability review report, the central bank says household debt has gone up over the years, with mortgage...
While property measures implemented over the last few years have dampened the rising momentum in the housing market, price levels remain high and the Government will step in, if necessary, to ensure stability and sustainability, the Monetary Authority of Singapore (MAS) said yesterday. Sales volume and price growth in the housing market have moderated, but developers continue to put in firm bids for...
Resale prices of completed non-landed private homes in Singapore fell at a faster pace last month, with weakness across all categories as evidence builds that the Government’s efforts to cool the housing market are working. The Singapore Residential Price Index fell 1.2 per cent to 159.1 points last month from a revised 0.9 per cent decline in September, the National University of Singapore said...
Property developers may be taking a more “conservative” stance when bidding for land, said analysts after the Urban Redevelopment Authority (URA) closed the tenders for two private residential sites at Upper Serangoon View yesterday. The adjacent land parcels attracted eight bids each, with Kingsford Development, owned by Chinese nationals, coming in top for both sites at S$258.8 million and S$201.6...
Prices of resale private homes continued to soften in October. According to the flash estimate of the NUS Singapore Residential Price Index (SRPI), overall resale private home prices dipped 1.2 per cent last month. This is compared to a 0.9 per cent on-month decrease in prices in September. The SRPI showed that resale prices for private homes in the central areas fell 1.4 per cent while those...
Market watchers have said that price cutting among developers on new project launches will likely lead to a drop in private residential prices in the fourth quarter. If so, this would be the first quarterly decline since the second quarter of 2009. They added that the price war is also setting in in the resale market. Duo Residences in Bugis is one of several projects that are expected to push...
Developers and their marketing agents for recent property launches must have heaved a sigh of relief as investors returned in droves to the private housing market. Dogged by weak sentiment in the previous three months, many sellers have been losing sleep trying to face up to a market that they believe has reached that dreaded turning point — with prices going downhill henceforth. If feedback to the...
The move to set aside three prime areas for private housing development under the Urban Redevelopment Authority’s (URA) Master Plan makes economic sense and is consistent with the Government’s vision for these areas outlined previously, property analysts said. Under the URA’s Draft Master Plan 2013, which was unveiled yesterday, Marina South, Kampong Bugis, which is near the Kallang River, and a...