Singapore’s property market has become increasingly cautious, as sales of new homes dropped 15 percent month-on-month in October, according to Savills Research. Due to strong home sales from January to October 2011, about 13,688 new home sales were registered over that period, representing a four percent year-on-year rise. This month, three major projects that could yield over 1,500 new mass-market...
singapore property market
As the property market reels from the shock of new curbs to cool prices, some market watchers say two groups will stand to benefit the most. They are the mass market condominium developers and Singaporeans who are buying their first private property or upgraders. Meanwhile a check on the showflats on the first weekend after the new property curbs took effect showed mixed scenes. While some showrooms were...
The Government's latest round of property market cooling measures - imposing a range of additional buyer's stamp duties on private home purchases - helps most genuine owner-occupier buyers, specifically citizens and permanent residents who may be affected by affordability issues. More importantly, it gives a clearer direction for the private home market, which had exhibited optimism despite the last round...
At least one real estate agency thinks the immediate reaction to the latest cooling measures will be a slowdown in the private property market. CEO of PropNex Realty Mr Mohamed Ismail said he expects a price correction of approximately 15 to 20 per cent in the central core region and a correction of 10 to 15 per cent in the mass market segment in the next six months. Propnex also expects transaction...
Home prices in Singapore inched up 0.9 per cent last month from September mainly due to a turnaround in the value of private non-landed residential properties in the central region, according to data from the National University of Singapore (NUS). The Overall NUS Singapore Residential Price Index rose to 167.9 last month from 166.4 in September, when prices fell 0.1 per cent. Excluding small units,...
Prices of private non-landed homes in Singapore resumed their upward trajectory in October, according to figures from the National University of Singapore (NUS). The NUS Singapore Residential Price Index (SRPI) rose 0.9 per cent from the previous month, after a decline of 0.1 per cent in September. SRPI is a transactions-based index that tracks the month-on-month price movements of private non-landed...
Singapore’s property sector may soon face difficult times, as Standard Chartered Bank’s latest report has stated a bearish outlook for the market. According to the bank’s analysts, prices and rents of residential properties in Singapore will drop by 30 percent over the next three years. This will be quite a setback, given that prices rose 18 percent in 2010, as Singapore recovered strongly from the...
Two good-class bungalows (GCBs), one in Tanglin Hill and the other in Victoria Park Road, have been sold for a total of S$105 million. According to The Strait Times, both properties were acquired by Singaporeans. The two-storey Tanglin Hill bungalow was sold for S$57 million (approximately S$1,648 psf). It was completed in 1990 and is located on a 34,579 sq ft site with a built-up area of 8,000 sq...
Property consultants have noted that there has been some opportunistic buying at the top end of the market. Many of those on the hunt are looking for condominium units for their own stay, and therefore prefer completed projects with spacious units. “With the ongoing European debt crisis, and global market uncertainty, people prefer not to flash their wealth and adopt a more conservative outlook,” says...
Once again, property developer SC Global Developments has set a new record price at The Marq on Paterson Hill, selling a 3,003 sq ft, four-bedroom apartment in the Premier Tower for about S$20.5 million (S$6,850 psf). This surpassed the previous record set in August for S$6,394 psf, which in turn topped the May record of S$5,842 psf. Comprising two 24-storey towers with a total of 66 units, the Marq is a...