Approximately 325 new private homes were sold over the past week, amid property launches and rock bottom interest rates. 67 units were sold at Far East Organization’s 338-unit SeaHill in West Coast Link, taking total sales to 185 units since it was launched last month. Homes at the 99-year leasehold project were sold for an average of S$1,329 psf. Far East also saw 34 more units taken up at the Hillsta...
singapore property market
The total value of new non-landed homes sold decreased by 21.7 per cent in 2011 compared to 2010 though the number of units sold dropped only 2.3 per cent, according to real estate consultancy CBRE. 13,611 caveats for non-landed homes amounting to some S$16.6 billion were lodged last year, compared to 13,933 caveats worth S$21.2 billion in 2010. CBRE attributes this to the robust sale of shoebox units....
Prices of resale private homes increased by 0.8 per cent in March, after falling 1.6 per cent February. This is according to the Singapore Residential Price Index (SRPI) flash estimates published by the Institute of Real Estate Studies at National University of Singapore (NUS). It noted an increase in the housing transactions volume in March and it is possible that the market may be shaking off the...
The Urban Redevelopment Authority (URA) released today the real estate statistics for 1st Quarter 2012. Prices of private residential properties fell marginally by 0.1% in 1st Quarter 2012, compared with the 0.2% increase in the previous quarter. This was the first quarterly fall in prices since 2nd Quarter 2009, following nine consecutive quarters of declining price increases. Prices of non-landed...
Leasing demand for residential properties in Singapore remained robust in the first two months of this year as transactions hovered above 3,000 each month, according to Savills Research. Its data showed that there were 3,446 leasing transactions in February 2012, down 5 percent on-month. But Savills said February's transactions were still higher than the 2,767 transactions recorded a year ago. Based on...
The scorching pace of new private home sales continued unabated for the second consecutive month in March, when developers sold a total of 2,393 units, down marginally from February's 2,417. Sales have not only returned to the levels before the additional buyer's stamp duty (ABSD) was announced last December, as one analyst put it. Instead, it would be more accurate to say they have risen several notches...
The number of new private homes sold in the first quarter of this year crossed the 6,600 mark - a record high, according to analysts. But have prices of private home sales peaked? Riversound Residences and the Palm Isles were among last month's top four selling projects, all located in the suburbs. March raked in over 2,300 new private homes, lower than February's 2,400. Still, the first three months of...
Overwhelming demand in the housing market has exceeded supply in recent years, and as a result, prices have surged faster than peoples’ incomes. Tharman Shanmugaratnam, Singapore’s Deputy Prime Minister, commented that “we're not in a very happy part of the cycle,” according to a Straits Times report. Mr Tharman was responding to a query raised by Yvonne Ho, an engineering doctoral student,...
Demand for small sized apartments also known as shoebox units may be waning. These units spanning less than 500 square feet seem to be a hit with property buyers recently. Analysts said the popularity of these units in the rental market will only be tested in 2013, when the bulk of these units will be ready and put up for rent. Smaller apartments have been flooding the property market in recent...
It certainly isn't the kind of price correction that many had been eagerly anticipating since last December. Advance estimates published yesterday by the Urban Redevelopment Authority (URA) showed private home prices fell by 0.1 per cent in the first three months of this year compared to the final quarter of last year. It was the first drop in prices in nearly three years - the first quarterly decline...