The number of new private homes sold in November fell to the lowest level in 2012. Excluding executive condominiums (ECs), 1,087 units were sold in November -- 44.2 percent less than in October. It is also the second straight month of decline. October saw 25.7 percent less homes moved in at 1,948 units. Analysts attribute the decline to fewer property launches last month. Savills' research head, Alan...
singapore property market
Singapore will make available for sale sufficient land to build about 14,000 private homes in the first half of next year, the government said on Friday. The Ministry of National Development (MND) said this as it unveiled the Government Land Sales Programme for the first half of 2013 (1H2013). There will be 12 private residential sites, including five executive condominium (EC) sites, and one site for a...
The Ministry of National Development (MND) has announced the first half 2013 (1H2013) GLS Programme, which will provide an adequate supply of private housing to meet continued demand from home-buyers. The sites will yield about 14,000 private residential units, including 3,100 Executive Condominium (EC) units, comparable to the GLS programme in the second half of 2012. In addition, there is a potential...
With expectations that HDB and private property prices will climb in the next half year, the property Affordability Sentiment Index (ASI) of PropertyGuru's latest Property Sentiment Survey dipped further in Q3 2012. The study, which was done in collaboration with Blackbox Research, polled around 1,000 Singaporeans and found that 69 percent of respondents believe that HDB flat prices will rise in the next...
The Whitley Residences by Hoi Hup Realty sold 19 freehold cluster homes at around S$5 million each during a preview last Sunday. This translates to an average price of about S$850 psf, taking into account the 12 percent discount and absorption of the three percent buyer’s stamp duty, reported The Business Times. According to a spokeswoman for the developer, all the buyers were Singaporeans....
A number of analysts have predicted a drop in Singapore’s home prices due to a large supply of land coming onstream and tighter monetary policy from the US Federal Reserve. But a study by Credit Suisse that was reported in The Business Times predicts that prices will rise some eight percent by 2017. “Contrary to the view of many, our analysis shows that prices will only correct marginally by 2017, if...
Resale home prices of both non-landed private residential units and HDB flats continued to climb to new highs in October and November against the third quarter 2012. But according to data released by the Singapore Real Estate Exchange (SRX), the rental market for private homes is showing signs of softening. As a result, overall gross rental yield dropped to a six-year historic low of 3.77 per cent in the...
The Republic is no longer the region's top destination for real estate investment and development opportunities, according to a report co-published by PricewaterhouseCoopers (PwC) and the Urban Land Institute (ULI). In the report, called Emerging Trends in Real Estate Asia Pacific 2013, the Republic fell to third place in the rankings, losing the top place it held for the last two years to Jakarta. "The...
Property developers expect land prices for private homes in Singapore to scale higher. This may add to their woes as they are already faced with increasing development costs and rising unsold units. Soon, all private homes in Singapore can no longer be called "mass market" developments. This according to the President of the Real Estate Developers' Association of Singapore (REDAS), Wong Heang Fine, who...
The Ministry of National Development (MND) will find it hard deciding on land supply to be allocated for private housing projects in 1H2013, said property experts. It will have to balance several factors such as looming supply glut, record home sales, an economic slowdown and developers’ keen appetite for land. “The quandary the authorities will face is that in the short run, demand chases supply....