Singapore's household net wealth has grown over the past 10 years and now stands at about four times GDP as at the third quarter this year. But the Monetary Authority of Singapore (MAS) warns that some over-leveraged households may be vulnerable when interest rates increase. In its annual financial stability review report, the central bank says household debt has gone up over the years, with mortgage...
singapore property news
While property measures implemented over the last few years have dampened the rising momentum in the housing market, price levels remain high and the Government will step in, if necessary, to ensure stability and sustainability, the Monetary Authority of Singapore (MAS) said yesterday. Sales volume and price growth in the housing market have moderated, but developers continue to put in firm bids for...
Resale prices of completed non-landed private homes in Singapore fell at a faster pace last month, with weakness across all categories as evidence builds that the Government’s efforts to cool the housing market are working. The Singapore Residential Price Index fell 1.2 per cent to 159.1 points last month from a revised 0.9 per cent decline in September, the National University of Singapore said...
Property developers may be taking a more “conservative” stance when bidding for land, said analysts after the Urban Redevelopment Authority (URA) closed the tenders for two private residential sites at Upper Serangoon View yesterday. The adjacent land parcels attracted eight bids each, with Kingsford Development, owned by Chinese nationals, coming in top for both sites at S$258.8 million and S$201.6...
Prices of resale private homes continued to soften in October. According to the flash estimate of the NUS Singapore Residential Price Index (SRPI), overall resale private home prices dipped 1.2 per cent last month. This is compared to a 0.9 per cent on-month decrease in prices in September. The SRPI showed that resale prices for private homes in the central areas fell 1.4 per cent while those...
Market watchers have said that price cutting among developers on new project launches will likely lead to a drop in private residential prices in the fourth quarter. If so, this would be the first quarterly decline since the second quarter of 2009. They added that the price war is also setting in in the resale market. Duo Residences in Bugis is one of several projects that are expected to push...
Developers and their marketing agents for recent property launches must have heaved a sigh of relief as investors returned in droves to the private housing market. Dogged by weak sentiment in the previous three months, many sellers have been losing sleep trying to face up to a market that they believe has reached that dreaded turning point — with prices going downhill henceforth. If feedback to the...
The move to set aside three prime areas for private housing development under the Urban Redevelopment Authority’s (URA) Master Plan makes economic sense and is consistent with the Government’s vision for these areas outlined previously, property analysts said. Under the URA’s Draft Master Plan 2013, which was unveiled yesterday, Marina South, Kampong Bugis, which is near the Kallang River, and a...
Singapore's Balestier area is lining up to be the next hot spot to own a private property. The area, popularly known as the lighting centre of Singapore, has now taken a new facade with several new developments coming up. One of them is the new Zhongshan Park Integrated Development that was launched on Monday, which includes a mall, an office tower and two hotels. Analysts told Channel NewsAsia...
Singaporeans can expect some 15,000 new homes in central Singapore, more commercial hubs outside the city centre, and a new waterfront area in the future. These are some of the plans laid out in the Draft Master Plan 2013. The plan guides Singapore's development in the medium term and is reviewed every five years. It was launched on Wednesday by the Urban Redevelopment Authority (URA). New...