Sales of new private homes in Singapore fell sharply in February, due to the Lunar New Year holidays, fewer launches and the government's latest round of cooling measures. However, analysts said it is still too early to gauge the effectiveness of the cooling measures introduced earlier this year. According to data from the Urban Redevelopment Authority, 708 new units were sold during the month, down by...
singapore property market
The new mixed-use commercial development SBF Centre at Robinson Road has seen strong take-up. In a statement, Far East Organization said 75 per cent of the 186 units released have been sold during the preview sales period from 25 February. The SBF Centre, a joint venture between Far East Organization and Far East Orchard Limited, will launch on 14 March. Far East Organization said 138 office units were...
Resale prices of private non-landed homes increased 2.7 per cent in February when compared with January 2013, according to flash estimates put out by the Singapore Real Estate Exchange (SRX). SRX compiles data from 11 top property agencies in Singapore. Leading the rise were properties in the suburbs. Resale prices of non-landed private homes in those areas rose surged 5.1 per cent on-month to an average...
New home sales in January were robust despite the introduction of yet another round of property market cooling measures that month, with developers selling a total of 2,013 private residential units, excluding executive condominiums (ECs), representing a hefty 43 per cent surge from the previous month. The strong sales performance was due partly to attractive pricing and other incentives in the aftermath...
Property market activity is expected to pick up in the next two months as several new condominium projects are likely to be launched. Analysts say this may lead to more sales transactions, especially from first-time home buyers. But despite the property-cooling measures introduced earlier this year, they say prices of new units are not likely to fall. Sennett Residence at Potong Pasir, with over 300...
The moribund property en bloc sales market looks set to cool down further. Experts expect total transactions in the collective sales market to decline to around S$1.5 billion in 2013. Global real estate services firm, Jones Lang LaSalle expects en bloc activities in Singapore to slow down from S$3 billion in 2011 to S$2 billion in 2012 and likely to go even lower than 2012 numbers this year. However,...
Singapore property prices still have "some ways to go" before reaching an acceptable level, according to Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam. Speaking in a Bloomberg Television interview, Mr Tharman said Singapore's property is now in a wrong part of the cycle, and prices would become acceptable through a combination of income improvement and prices not going up...
The high-end housing segment will be most affected by the recent property curbs, Mr Kwek Leng Beng, Executive Chairman of City Developments (CDL), said yesterday, adding that “some correction” would be needed for the overall market. Responding to a question on Budget 2013 and measures to cool the property market at CDL’s results briefing, Mr Kwek said: “The current economic crisis in Europe and...
Prices of resale private homes rebounded in January, rising 0.3 per cent, reversing the previous month's 0.2 per cent decline, according to the Singapore Residential Price Index flash estimates published by the Institute of Real Estate Studies at the National University of Singapore. The increase in January was led by price growth in the small unit segment, defined as homes below 506 square feet. In...
Landlords of private homes may see the rental market softening when higher property taxes kick in next year, as these investors grapple with higher holding costs. Owning luxury or investment homes will incur higher property taxes starting January 2014. For private homes not occupied by owners, new marginal property tax rates of 12 to 20 per cent will be levied in addition to the current 10 per...