HDB resale prices rose in the first quarter of 2012, while private homes prices fell for the first time since 2009. HDB flash estimates showed an increase of 0.6 per cent in the January-March 2012, the smallest rise in resale prices since the third quarter of 2006. The increase was also lower than the 1.7 per cent gain registered in the fourth quarter of 2011. Separately, an estimate by the Urban...
singapore property market
The high sales volume of new private homes seen in the first quarter of 2012 is not likely to be sustainable, according to real estate consultancy CBRE. In the first three months of 2012, CBRE expects 5,200 units of new private homes to change hands, the second highest since the 5,578 units sold in Q3 2009. The strong demand is primarily driven by a large supply of new units in the market, high liquidity...
Every month, when the National University of Singapore (NUS) releases flash estimates for its Singapore Residential Price Index (SRPI), there will always be at least one reporter who will be feeling perplexed as to how he or she should read the indices. Are property prices heading upwards, downwards or trudging sideways? Compared to the Urban Redevelopment Authority's (URA) quarterly price index, the SRPI...
rices of resale private homes are 0.8 per cent cheaper in February than in the previous month. This is according to the NUS Singapore Residential Price Index (SRPI ). Still, analysts expect overall prices to rise by between 0.5 and three per cent in the first quarter. Since January, the market for new private homes have been abuzz, with eight in 10 buyers being locals. In December last year, the...
Property developers and agents are venturing into other avenues of business, as the once booming resale market for private and public housing has been affected by the government’s tightening measures. According to estimates, the number of resale transactions in both markets dropped significantly in the first quarter compared to last year. However, the slowdown has spurred activity in other segments,...
The prime and mass-market private housing segments in Singapore are facing starkly different fortunes. According to recent industry data, while the mass-market segment is still enjoying healthy demand and price increases, the prime segment seems to be suffering from waning demand as foreign investors exit the Singapore residential property market. Take the January and February sales figures as a case in...
Property developer Keppel Land sees less pessimism in Singapore's luxury-home market and says mass-market demand should stay supported amid signs that the global economy is on the mend. Mr Augustine Tan, president of Keppel Land's Singapore residential arm, said yesterday that recent economic indicators suggesting a healthier American economy and receding fears over Greece's debt crisis meant "there is a...
Non-landed home prices in the secondary property market in Singapore continued to soften in the first quarter of 2012, with those in the prime districts 9, 10 and 11 faring worst. According to a report by DTZ Research, resale prices of luxury condominiums and freehold condominiums in the prime districts fell by 0.8 per cent and 0.7 per cent respectively. Resale prices of leasehold condominiums in the...
Leasing activity in the private residential market is expected to slow this year as the uncertain economic outlook causes companies to be more cautious in hiring expatriates. But there may be some leasing opportunities arising from recent property market cooling measures, particularly December's announcement of the 10 per cent additional buyer's stamp duty (ABSD) on foreigners who purchase private...
A few days ago, a Hong Kong businessman told me he felt that a lot of supposedly "independent" property analysts were bent on pouring cold water on the private housing market in Singapore. Well, not all, but he is right to an extent. The rhetoric may have cooled somewhat but the negativity remains. I can understand where they are coming from. A number have made judgement calls that housing prices will...