Private developers sold 1,329 new homes excluding executive condominiums in September, marking the highest monthly sale in more than two years. Last month's private home sales volume is the highest since July 2018, when 1,724 units were sold when sales surged as buyers tried to avoid new cooling measures. Data released by the Urban Redevelopment Authority (URA) on Thursday (Oct 15) also showed that...
Resale volume of non-landed private homes in Singapore rose 0.4 per cent to about 1,286 units resold in September 2020, from 1,281 units resold in August 2020. Volumes were up 62.8 per cent from September 2019 and 64.5 per cent higher than the five-year average volumes for the month of September. Overall prices meanwhile, edged up 0.1 per cent month on month and year on year. By region, resale...
There will be more temporary relief measures for property developers whose construction schedules have been affected by the Covid-19 crisis. The Government said on Thursday (Oct 8) that developers have six more months to complete residential, commercial and industrial development projects, for instance, and the added measures will take effect immediately. A first round of measures was announced in...
Private home prices in Singapore rose by 0.8 per cent in the third quarter from the previous quarter, according to flash estimates released by the Urban Redevelopment Authority (URA) on Thursday (Oct 1). The private residential property index rose by 1.2 points, from 152.6 points in the second quarter to 153.8 points in the third quarter. The increase is slightly more than the 0.3 per cent rise...
Singapore’s economy contracted 13.2 per cent year-on-year in the second quarter, leading the Government to downgrade its forecast for the country’s gross domestic product to shrink between 5 and 7 per cent, instead of between 4 and 7 per cent. This would be the nation’s worst recession since independence. It’s also not a pretty picture on the job front. A total of 11,350 people were laid off...
HDB upgraders recycling their flats into private homes will likely continue to buttress private residential projects, based on recent strong sales at the latter, notwithstanding the coronavirus pandemic. Sales volumes at private residential projects continued to be driven by Singaporeans as the key buyers, DBS Group Research wrote on Tuesday while dubbing the Singapore property market "a bed of...
Private property sellers will no longer be able to solely extend the period of time for a prospective buyer’s option to purchase (OTP) a residential unit, a circular by the Urban Redevelopment Authority (URA) said on Monday (Sept 28). An OTP is usually a three-week period when a buyer books his right to purchase a property from a developer in return for a cash payment, which is up to a hefty 5 per...
Amid the economic crisis, property cooling measures are all the more necessary for the “well-being” of Singaporeans, by encouraging prudence and caution in their property purchases, National Development Minister Desmond Lee said on Wednesday (Sept 16). He made the comment in response to questions from PropNex chief executive Ismail Gafoor during a dialogue session at the PropNex Mid Year 2020...
Pent-up demand continues to drive new home sales with 1,227 units sold in Singapore in August, an 11-month high with confident buyers pushing prices upwards amid worsening economic conditions and rising unemployment. The high number of transactions surprised some because it was also the Hungry Ghost month, but it got an extra lift from Forett At Bukit Timah, a freehold development that was launched on...
Private developers sold 1,080 new homes excluding executive condominiums (ECs) in July, a third straight month of growth. However, compared to July last year, private home sales volume fell 8.4 per cent from 1,179 units, according to data from the Urban Redevelopment Authority on Monday (Aug 17). On a month-on-month basis, July's sales marked an 8.2 per cent jump from the 998 units transacted in...
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