Home prices in Singapore are showing signs of moderating. Flash estimates from the Urban Redevelopment Authority and Housing and Development Board (HDB) for the last quarter of 2011 saw prices increasing at a slower rate. Prices of resale flats grew by 1.7 per cent, compared to the 3.8 per cent growth seen in the third quarter. This brings the HDB Resale Price Index (RPI) - which provides information on...
singapore property market
The rate of increase in private residential property prices continued to moderate for the 9th consecutive quarter since Q4 2009. Flash estimates by the Urban Redevelopment Authority showed that the private homes index rose to 206.2 points in Q4 2011, up 0.2 per cent, compared to the 1.3 per cent increase in Q3. Prices of non-landed private residential properties increased by 0.5 per cent in the Core...
Prices of completed shoebox apartments peaked in August and dropped three percent in November, according to the flash estimates from NUS’ Institute of Real Estate Studies. Month-on-month, prices of these units dropped 0.2 percent in November. The flash estimates also showed that prices of larger apartments in both Central and Non-Central regions continued to rise in the previous month. Since 2010, the...
Singapore residential property prices were slightly higher by 1.7 per cent on-month in November. This is according to the flash Singapore Residential Property Index (SRPI) by the National University of Singapore (NUS). Prices were also up 1.0 per cent in October. While the NUS Overall SRPI increased, the index covering small units of 506 square feet and below fell 0.2 per cent last month. In...
The recent cooling measures which require foreigners buying private property in Singapore to fork out an additional 10 percent stamp duty, is expected to curb skyrocketing property prices. And if recent transacted prices at certain luxury developments are anything to go by, the new measures could not have come at a better time. A prime example is The Marq on Paterson Hill. The latest deal involved a...
The threat of a global economic double-dip and additional property cooling measures in Singapore may result in a decline of buying interest in the next six months, according to latest residential market report by Savills. This year, Savills expects new home sales (excluding executive condominiums) to hover between 15,000 units and 15,500 units, a slight decline from last year’s record of 16,292...
The government’s announcement of an additional buyer’s stamp duty (ABSD) on top of the existing 3% appears to be mainly targeted at foreign buyers, notes UOB Kay Hian in a report. “The move will act as a strong deterrent for foreign buyers as their transaction costs would increase by 10% overnight,” says Vikrant Pandey, analyst at UOB KayHian. The high-end market will be the most impacted as...
The Urban Redevelopment Authority said developers sold 1,701 units of private homes, excluding executive condominiums in November this year. That's up from 1,391 units moved in the previous month. November's home buying demand was largely driven by strong sales from mass market projects. These included the 477 units sold at Bedok Residences and 367 units sold at The Palette in Pasir Ris. The developers...
Property developers are likely to offer incentives to draw in buyers and boost sales amid tighter regulations by the Government and a slowdown in the economy, according to analysts. Singapore imposed unexpectedly last week a second round of cooling measures this year, a move described by analysts as harsh. The most recent measures impose an additional stamp duty on property purchases by foreigners and on...
The Singapore private residential property market was hit with two rounds of cooling measures in 2011 - moves widely described by analysts as harsh. Coupled with an expected slowdown in the global economy, home-buying decisions may stall in 2012. And developers may also roll out more incentives to prop up sales. Despite the uncertain economic outlook in 2011, home-buying interest remained healthy...