Private resale home prices rose by 1 per cent in October, marking a similar rate of increase seen in September. The figures are part of the latest Singapore Residential Price Index (SRPI) flash estimates published by the Institute of Real Estate Studies at the National University of Singapore (NUS IRES). In its report, NUS IRES said that property cooling measures have had "transient effects" on housing...
singapore property market
The government is expected to offer a steady supply of land for residential developments in the first half of 2013. Property-watchers said the sites offered this year have seen strong interest from developers, pushing land prices up by an average of some 10 per cent on-year. To meet demand, the government has ramped up its land sales programme this year. For both the first and the second half of 2012,...
The number of private home sales in Singapore could drop by more than 20 percent in 2013 after “spectacular” increases this year. David Neubronner, Head of Residential Project Sales for Jones Lang LaSalle (JLL), issued the warning this week, suggesting that the number of sales this year, which is expected to reach 22,000 units, will correct to “more healthy levels of about 16,000 units” in a...
It has been a pulsating year for Singapore's private housing sector, with homebuyers' aspirations remaining firm even as prices and volumes defy conventional market cycles to hit record highs, but there are signs that the market is now heading towards equilibrium. In today's market, speculation no longer drives the property buyer following the implementation of sellers' stamp duty in January last year for...
There are at least eight private residential projects that are now racing the clock to sell remaining units within the two-year completion period, as mandated by the government. For instance, high-end projects such as the Hilltops in Cairnhill Circle and the The Marq on Paterson Hill have been completed for at least a year, but they still have hundreds of units yet to be sold, reported The Straits...
Foreign buyers of Singapore properties accounted for 7 percent of the market in the third quarter this year. The proportion had remained unchanged from the previous second quarter. However, for the first three quarters of the year, foreign purchases averaged about 6 percent. This is according to the latest report on demand for Singapore's residential properties in Q3 by property consultant DTZ. The...
The latest restrictions on home loan tenures will likely boost demand for lower-priced non-landed private homes, or those under S$1.5 million, according to a report by Knight Frank. The cooling measures are expected to impact affordability. For instance, a 35-year old home buyer with a S$12,000 monthly income can now afford a home priced as much as S$1.5 million to S$1.6 million on a 30-year loan,...
Sales of new private homes in Singapore declined by about 25.7 per cent to 1,948 units in October, from 2,621 units in September, according to data released by the Urban Redevelopment Authority (URA). URA said October's sales were led by the mass market segment which sold a total of 1,482 units. Meanwhile, 144 new homes in the core central region and 322 new units in the city fringe were sold. The top...
City Developments (CDL) has warned of a potential oversupply of home units in Singapore. In a statement accompanying its quarterly earnings, CDL said it is "cognisant that between 2014 and 2015, there could be some oversupply with more residential units being completed." However, the group said the fear could be unwarranted if the world economy turns around by that time and the majority of the completed...
The total number of private residential properties bought was about 22,000 in the first half of 2012, as compared to 19,000 in the first half of 2011 and 17,000 in the second half of 2011. National Development Minister Khaw Boon Wan said this in a written parliamentary response to a question by MP for Pasir Ris-Punggol GRC, Gan Thiam Poh. He said cooling measures introduced in January last year aimed to...