Developers with luxury residential projects seem to be delaying the launches and, in some cases, completions as they await the anticipated uptick in the high-end segment, according to a report in Straits Times. While homes in suburban areas are selling well at record high prices, sales volumes in the luxury sector is anaemic and prices are languishing over the past year. In a report by property...
singapore property market
The government is capping the total number of units that can be built on a site for non-landed private residential developments outside the Central Area. This will take effect from November 4 when new guidelines issued by the Urban Redevelopment Authority (URA) take effect. The URA says the new guidelines will discourage developers from building new developments consisting mainly of shoebox units outside...
It is that time of the year when many Chinese Singaporeans shy away from undertaking major projects or "risky" activities during the Hungry Ghost Festival. The festival, which occurs during the 7th month of the lunar calendar, has affected everything from renovation to marriages. But observers said the property market has not really been affected this year. Property analysts said new projects are still...
Two weeks ago, a front page news report in a business daily blasted the commonly held notion that Singapore's private housing market is red hot, at least where developer sales are concerned. The report - drawing on a study by Savills - said that compared to 2007, the market actually underperformed last year, even as home sales in terms of total units sold were higher. It said the market would most...
Demand for private residential properties in Singapore rebounded in July, according to data released by the Urban Redevelopment Authority (URA). Figures showed that excluding Executive Condominiums (ECs), sales of private properties rose to 1,943 units last month, up nearly 42 per cent from June. Three out of the top four best selling projects were located in the suburban areas. They were Parc Centros...
Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam said longer mortgage tenures have implications for the property market. In a written reply to parliamentary questions, Mr Tharman said they give buyers the impression of improved housing affordability. He said the reality is that of a larger long term debt service burden. United Overseas Bank drew controversy when it launched a new...
For the last three years, the trend in Singapore's residential property market has been virtually one-directional: Up. Despite the Government's repeated efforts to cool the market, home prices have remained resilient and recently hit new highs. It is not hard to see why. Population growth has been on an uptrend, there has been a housing shortage for years, and borrowing rates are currently low. I have...
Sentiment for the property development industry in Singapore has improved marginally in the second quarter. This according to the latest survey jointly developed by the Real Estate Developers' Association of Singapore (REDAS) and the NUS Department of Real Estate. According to the Real Estate Sentiment Index (RESI), the outlook for Singapore's real estate market is showing a modest improvement compared...
Despite concerns over the eurozone debt problems, Singapore saw buoyant purchase demand from investors and home buyers in the second quarter of 2012. According to DTZ Research, real estate investment rose 48 per cent quarter-on-quarter to S$6.9 billion in the second quarter, lifted by an increase in both domestic and cross border investments. Whilst government land sales (GLS) contributed to 43 per cent...
With suburban housing prices hitting new highs, markets awash with liquidity and banks introducing longer home loan tenors, I believe it is inevitable that another round of cooling measures will be introduced simply to keep potential price increases in check. In my commentary in Today last week ("Is the glass half empty or half full?" July 27), I said you could choose to interpret the findings of the...