Nearly 57 percent of home buyers in Singapore believe the government is either on track or will likely exceed expectations to cool the public housing market in five years. This includes 19.9 per cent who feel prices will stabilise over the next one to two years. And another nearly 37 per cent who feel three to five years is a fair assessment for public housing prices to stabilise. The poll was conducted...
singapore property market
The housing market in Singapore is heading for a prolonged downturn and overall private home prices are forecast to fall between 22 and 26 per cent in the next three years, Daiwa Research said. "We believe the residential property market could remain depressed for several years, triggered initially by a likely forthcoming gross domestic product slowdown (in 2012) and lingering global economic uncertainty,"...
The number of private homes sold in October went down by 14.9 per cent. Latest figures from the Urban Redevelopment Authority showed 1,387 private units were sold in October. That's 244 units lower than the month before. In September, 1,631 units were sold. Developers turned cautious in October and held back on new launches - only 1,337 units were launched. Dr Chua Yang Liang, head of research &...
With a slew of condominiums being completed in the Cairnhill area, such as SC Global’s 240-unit Hilltops, Wing Tai Holdings’ 140-unit Helios Residences and, most recently, the 58-unit Ritz-Carlton Residences, investor interest has returned to the neighbourhood. The most recent recorded transaction at the freehold Hilltops was in August, when a 1,335 sq ft unit on the third floor was sold by the...
Data for private homes sales are out next week but analysts are already expecting to see a drop in sales. They say private home sales could cool by 15 to 20 per cent on-month to between 1,200 units and 1,600 units in October. Buyers' sentiment was strong in September with 1631 units sold, defying market expectations and perhaps even logic as Singapore was facing a technical recession and a spiralling...
Prices of freehold homes have proven more resilient in the past few months compared to those of 99-year leasehold properties, according to a new report. Credo Real Estate found that price gains for freehold terraced homes and condominiums have exceeded those for similar homes with 99-year leases since Q3 2010. While prices of leasehold condos rose by less than one percent each quarter in the 15 months to...
Rents for apartments in the city fringe areas are on the rise and this is being attributed to the concurrent increase in the number of small units that are generally under 500 sq ft in size. In a study by CBRE, rents in the city fringe, which covers areas like Balestier, Bishan and Geylang, rose to S$3.36 per square foot (psf) per month (pm) by the third quarter of this year, up from S$3.15 last year....
The neighbourhood of Cuscaden Road and Tomlinson Road, off Tanglin Road, is attracting the interest of high-net-worth individuals again, largely owing to the upcoming 29-unit boutique luxury condominium development, Hana, by Pontiac Land. The units at the 99-year leasehold Kerry Hill-designed project are said to average 3,500 sq ft each. Nearby, Hotel Properties Ltd (HPL), one of the biggest stakeholders...
The evidence for a price drop in Singapore's residential property market is stacking up even as investors here continue to buy up small units in the outskirts, setting new highs for average per sq ft prices. The Urban Redevelopment Authority (URA) released last Friday the full set of third-quarter property data - sending a clear signal about the avalanche of supply of homes. About 80 pages of the URA...
With uncertainties in the global economy affecting housing demand, private home sales in Singapore may come close to 2010’s record high but are unlikely to exceed the figure, according to many experts. The number of private homes sold in the first nine months of this year reached 12,301 units, compared with 12,051 units sold over the same period last year. However, experts said a slower fourth quarter...