Anyone in the research business will appreciate the complexity of the data and the gargantuan efforts involved in producing the Population White Paper and the Urban Redevelopment Authority’s (URA) Land Use Plan. After analysing historical data, projections were made based on a desire for economic growth to arrive at the scenario (or what is now considered the “worst case”) of a 6.9 million...
singapore property market
La Fiesta by EL Development topped the list of best-selling residential projects for the month of January recording sales of 404 units, reported Singapore Business Review. Located in Sengkang, the condo project released 500 units for sale last month at a median price of S$1,163 psf, according to data from the Urban Redevelopment Authority (URA). In January, a total of 2,013 private homes excluding...
Sales of new private homes in Singapore jumped by about 43 per cent on-month in January 2013, despite the latest round of cooling measures introduced last month. According to the Urban Redevelopment Authority (URA), 2,013 units of new private homes - excluding executive condominiums - were sold in January, compared to 1,410 units sold in December 2012. A URA spokesperson said about 60 per cent of the...
The Real Estate Developers' Association of Singapore (REDAS) said property developers are feeling anxious as the latest round of cooling measures took effect last month. Singapore's top property developers gathered on Friday to celebrate the Lunar New Year. Newly-elected REDAS president Chia Boon Kuah told a crowd of 500 that property developers will continue taking part in land bids, which form their...
Home sales were brisk during the Lunar New Year holidays. Five buyers each bought a unit at La Fiesta in Sengkang between 9 and 11 February. They are four Singaporean Chinese, who are first-timers, and one Indonesian. Mr Lim Yew Soon, managing director of EL Development, which developed La Fiesta, observed the crowd during the Lunar New Year was similar to any "regular weekend." But he admitted that the...
The latest round of property cooling measures announced on Jan 11 triggered a sell-off in the shares of developers as analysts predicted a drop in private housing prices, but opportunities await tax-savvy investors, who may find the post-curb market not as inhospitable as initially perceived. There’s no question that real estate has proven itself to be a sustainable asset class. Yet the additional...
Following the latest round of property cooling measures in Singapore, many developers have been offering “incentives” to buyers in the form of discounts to offset the stamp duty hike. But builders of super prime properties have resisted such sales tactics. According to Alain Fanaie, Group CEO of China Sonangol Group, developments on “prime” spots do not need to attract buyers through such...
Prices of new private home launches usually set the benchmark for resale properties in the area. But it seems that discounts offered by developers of major properties in the city since the fourth quarter of last year may not have spoilt the market yet. Buyers who bought units at D'Leedon near Farrer Road and Interlace at Alexandra Road in the fourth quarter last year could have enjoyed discounts of up to...
Transactions likely to have been inflated by buyers ‘rushing to complete purchases before the measures took effect’ The first collated property sales data for January suggests the latest round of cooling measures introduced last month may have had limited immediate impact, but analysts are cautioning it is still far too early to draw any firm conclusions about how the market is reacting. According to...
Resale prices of non-landed private residential units inched up 0.6 per cent in January, compared to December 2012, according to flash estimates released by the Singapore Real Estate Exchange (SRX). SRX compiles data from 11 top property agencies in Singapore. A rush to buy properties to beat the latest round of cooling measures pushed demand higher and raised prices last month. Tough property cooling...