Residential property prices are expected to fall 8-10 per cent over the next year as government policies work their way through the market amid a worsening economy, according to brokerage UOB Kay Hian's latest note to investors published yesterday. It has been eight months since the Government introduced stiff stamp duties of as high as 16 per cent on the seller of a residential property and lowered the...
singapore property prices
There’s been a return of interest in the landmark condominium The Sail at Marina Bay in the past month, with three transactions from Aug 5 to 12. According to property agents, The Sail is seeing renewed interest from foreign high-net-worth individuals. A one-bedroom unit on the 56th floor of the 63-storey Tower 2 changed hands recently for $2.1 million, or $3,048 psf. This is the seventh transaction at...
Singapore property prices will remain stable in the medium term, with key home-buying factors like upgrading and investment still expected to drive up demand, said a My Paper report. This comes amid the expected slowdown in Singapore’s economic growth, led by the debt crisis in western countries. As home buyers are likely to be more cautious, prices will not increase or decline by over five percent by...
The newly completed Kovan Residences saw an increase in transactions from Aug 1 to 8, with three units at the suburban condominium changing hands in that period. Prices achieved were in the range of $1,085 to $1,267 psf. The fully sold 512-unit Kovan Residences was developed jointly by Centurion Properties, the majority stakeholder, in collaboration with construction group Lian Beng, which held a 19%...
The NUS Singapore Residential Price Index (SRPI) has shown that Singapore private home prices in July were flat, as compared to the previous month. The overall index gained just 0.2 per cent from June, as the pace of price increase slowed. Colin Tan, head of Research and Consultancy for Chesterton Suntec International, said this is mainly due to the global uncertainty over the US economy and the eurozone...
Latitude, a high-end condominium located on Jalan Mutiara in the prime River Valley area, has seen a spike in transactions since late July. The 127-unit freehold condo by giant listed developer CapitaLand was completed late last year. Caveat data downloaded from URA for the period from July 26 to Aug 2 saw four caveats lodged for the sale of four four-bedroom units sized at 2,766 to 2,928 sq ft. The...
Luxury home prices in Singapore fell 1.7 per cent in the second quarter of the year from the first three months, the biggest drop in CBRE's list of cities in its Asia Luxury Residential report. CBRE said that no new luxury residential projects were launched in Singapore during the second quarter as existing projects continued to struggle to attract buyers. Luxury home rents fell by 1.9 per cent...
There was a spike in interest and transactions at the nine-year-old Compass Heights in mid-July, which property agents attribute to the upcoming launch of Keppel Land’s Sengkang Square condominium called The Luxurie. Keppel Land had announced last month that it is likely to launch the Sengkang Square condo development by year-end. The developer had purchased the 99-year leasehold, 194,000 sq ft site in...
Kwek Leng Beng, Executive Chairman of City Developments Limited (CDL), expects property price trends in Singapore to change soon. According to Kwek, in a span of six months, property developers will likely reduce launch prices of private housing projects not situated near MRT stations by approximately five percent, if they wish to increase the number of transactions amid the presence of more cautious...
The 509-unit condominium River Place located at Havelock Road has long been a favourite among property investors and expatriate families largely because of its location — just at the edge of the CBD and overlooking the Singapore River, say property agents. It’s also within walking distance to the nightspots in the Mohamad Sultan neighbourhood, Robertson Quay, Boat Quay and Clarke Quay, as well as the...