Market sentiment in the real estate industry remained weak in the second quarter of this year, according to a poll of 64 industry players conducted by the Real Estate Developers' Association of Singapore (REDAS) and the National University of Singapore (NUS). The sentiment index stood at 3.9, inching up from 3.8 in the previous three months. A score under five indicates deteriorating market conditions,...
singapore property news
Prices of private residential properties in the second quarter fell by 0.9 per cent from the previous quarter – the seventh consecutive quarter of decline, the Urban Redevelopment Authority (URA) said on Friday (Jul 24). The price decline was observed across all segments of the private residential property market, URA said. Prices of non-landed properties in the Core Central Region (CCR) and Rest of...
The moribund housing market may have set off a chorus of voices calling for the property cooling measures to be relaxed, but Monetary Authority of Singapore (MAS) managing director Ravi Menon said it is premature to do so as the price correction has been modest, putting paid to hopes among developers and homeowners of a market rebound. “Property prices have softened somewhat, but like I said last...
New private home sales in the Republic fell 42 per cent in June from May as developers launched fewer units. Data from the Urban Redevelopment Authority (URA) on Wednesday (Jul 15) showed developers sold 375 housing units last month - well below the revised figure of 643 units for May. Developers launched just 219 units in June, down from May's 500 units. Including executive condominiums (ECs),...
Rental prices for non-landed private residences fell by 0.5 per cent in June compared to May, according to flash estimates released by SRX Property on Wednesday (Jul 15). Non-landed private property units in the Core Central Region and Outside Central Region saw rental prices fall by 0.8 per cent and 0.7 per cent, respectively, while units in the Rest of Central Region saw no change. June’s rents...
The Republic's real estate developers association (REDAS) has warned of record-high vacancies in the private residential property market, as supply continues to build while tighter mortgage curbs cools demand. In his welcome speech at a property seminar organised by the association on Tuesday (Jul 14), REDAS' president Augustine Tan cited analysts' estimates that more than 89,000 new private homes will...
The resale volume of non-landed private residential units was up 34 per cent year-on-year in June, with an estimated 552 units resold, the SRX Property said on Tuesday (Jul 14). However, compared to the previous month, resale volume was down 10 per cent from the 613 units resold in May. Resale prices inched up 0.4 per cent from May, driven by units in the Rest of Central Region and Outside of Central...
The easing of property cooling measures will depend on factors such as the state of the economy, wage growth, and the situation in the property market, said Law and Foreign Affairs Minister K Shanmugam. He was speaking at a real estate convention on Thursday (Jul 9), organised by property firm RE/MAX Singapore, in response to a question on a review of the cooling measures currently in place. The...
The overall private residential property index fell for a seventh straight quarter, with prices down by 0.9 per cent in the April to June period, compared to the 1 per cent decline in the previous quarter, according to Urban Redevelopment Authority (URA) flash estimates released on Wednesday (Jul 1). Prices of non-landed private residential properties declined in all market segments, the URA said....
The Total Debt Servicing Ratio (TDSR) framework, which took effect on Jun 29, 2013, has been blamed for the slowdown in the private housing market, and the steady drop in prices over the past six quarters. For the whole of 2014, developers sold around 7,316 private residential units, just under half the 14,948 in 2013. The TSDR framework - which restricts monthly debt payments, including home and car...