Private home prices hit another all-time high even as the rate of increase continued to moderate, suggesting that caution had crept into the market amid heightened uncertainty in the macro-economic environment and a large supply pipeline. According to the Urban Redevelopment Authority (URA), the price index of private residential properties increased 1.3 per cent in the third quarter this year from the...
singapore property market
Prices of private residential properties increased by 1.3 per cent in the third quarter of 2011, lower than the 2.0 per cent rise in the previous quarter. This was the eighth consecutive quarter in which the rate of increase in overall private housing prices had moderated, according to real estate statistics released on Friday by the Urban Redevelopment Authority (URA). Prices of non-landed properties in...
The fully sold, 302-unit freehold Martin Place Residences obtained its temporary occupation permit (TOP) just last month. Enterprising property agents are already milling about in the area, showing units for lease and sale on the secondary market. There were two transactions at Martin Place Residences over the week of Sept 13 to 20, based on the latest caveats lodged and downloaded from URA Realis as at...
For the past couple of weeks, you get the sense that momentum is building up in the private housing market. In an ironic twist, a private residential site tender at Flora Drive in Upper Changi broke new ground on Wednesday, the same day National Development Minister Khaw Boon Wan said it was not time yet to remove the property market cooling measures. It was the first site sale to reverse the tide of...
The number of foreigners owning private property in Singapore has grown to 16 per cent in the first half of this year, compared to 12 per cent for the whole of last year. National Development Minister Khaw Boon Wan revealed the numbers in Parliament on Thursday, in response to concerns from several MPs about the impact of property ownership by foreigners. Despite the growing demand from foreigners, Mr...
New home sales in Singapore surged last month despite global macroeconomic uncertainties and stock market volatility, driven by strong demand in mass market condominiums from HDB upgraders. Urban Redevelopment Authority (URA) data released yesterday showed developers sold 1,631 private homes last month, up 20.7 per cent from the 1,351 units in August. A total of 1,321 units were sold in the outlying...
The private residential market saw a rebound in September. Figures released by the Urban Redevelopment Authority (URA) on Monday showed 2,064 units, including executive condominiums (ECs), were transacted. This is the highest number of monthly transactions this year and a significant 26 per cent increase from August's 1,638 units. Treasure Trove, a development in Punggol, accounted for about 40 per cent...
The issue of foreign ownership of private residential properties has been a fairly hot topic of debate for newspaper readers recently. Sensational news reports on foreigners buying private housing properties in Singapore never fail to draw many online comments, and some of the more unbiased and thoughtful comments have made it into print in the letters-to-the-editors section. While some have called for...
Supply of land for residential homes is not likely to let up in the short-term. The government said it will release more land and calibrate measures to ensure property prices are in line with economic growth. The price of property has become a hot button issue here and is likely to get considerable airing in Parliament next week. In the addendum to the President's Address in Parliament, National...
Singapore's Law Minister said he expects the approval rate of foreigners owning private property to reduce by more than half, since the amendment to the Residential Property Act. The changes, which kicked in in January this year, impose tighter restrictions on foreign ownership. Those who renounce their citizenship or Permanent Residency are to sell their restricted residential properties in two...