Singapore's commercial and residential property sectors will remain attractive to investors in the medium to long term. Property watchers told Channel NewsAsia that is because of Singapore's status as an international financial hub. 2009 looks set to be a difficult year by all accounts, but market watchers said property investment fundamentals here remain strong. As global financial institutions cut...
Singapore Property Outlook
Property developers sell just 376 units last month despite launching four times as many units SALES of private homes continued to languish last month, with the poor sales in August - the Hungry Ghost month - proving to be more than just the usual annual blip. It was more of a sign of things to come, as the ongoing financial turmoil takes its toll on home-buying sentiment. According to data released...
Sales of private homes in Singapore improved 17.5 per cent in September, compared to the previous month. But analysts said the pickup fell short of expectations, given the low base in August caused by the Hungry Ghost Festival. The seventh month of the Lunar calendar is traditionally regarded as an inauspicious period and buyers usually refrain from making purchases during that time. Almost 300 per cent...
Early estimates show prices of private residential properties fell for the first time in four years in the third quarter. Concerns are that times ahead may be rough. Still, about one-third of MCL Land's latest mid-range condominium project - The Peak@Balmeg - was snapped up over the last two days during its private launch. Among the visitors at the launch were Panneer Selvi and her family who have been...
Sales of private homes by Singapore developers dropped by 56 per cent for the year ended June 30, with only about 7,200 units being sold. However, Real Estate Developers' Association of Singapore (REDAS) believes private home prices will not drop sharply this year, despite the tight credit market and economic slowdown. President of REDAS, Simon Cheong, said: "If it drops, it will not be much more. This...
But analysts divided over 2010 ‘nightmare scenario’ DESPITE healthy profits reported for subsales in the first seven months of the year, there seems to be an uneasy air looming over the property market - in particular, the slowing mid- and high-end residential segments - these days. The coffeeshop chatter found its way into public discourse last month when Wing Tai Holdings’ chairman Mr Cheng Wai...
Some frightened investors selling homes cheap: Developer AS HIGH-END home prices fall, Mr Kwek Leng Beng says there are now some bargains available for smart investors. “What has gone up very high in a straight line will also come down,” said the executive chairman of one of Singapore’s biggest developers, City Developments (CDL). And as prices fall, Mr Kwek said there will be some desperate...
This year's Hungry Ghost Festival, which is celebrated on the seventh month of the Chinese lunar calendar, comes at a time when the global economy is also slowing. Traditionally, it means a quieter property market as investors and developers lie low during what they perceive to be an inauspicious occasion. The Singapore property market is no exception, but experts said lower volumes may not be due to...
It was caused not by a jump in demand, but by a contraction in supply LAST week, I suggested that the private housing oversupply may have been understated. This is because units that have been bought by investors can still be considered as part of the housing supply until they are resold or are tenanted. If the rental income cannot cover the mortgage payments and if the owners are highly geared, then...
There is a distinct possibility of lower prices with so many developments set to be completed at the same time RECENT arguments against earlier predictions of a private housing oversupply are overblown, and cannot be further from the truth. In fact, those predicting an oversupply are probably understating their case. How bad the market fares will depend on the economy. But, leaving the economic factor...