Outside the prime districts of 9, 10 and 11, the East Coast area (Districts 15 and 16) has traditionally been a draw for expatriates. In the last two years, the area has proven to be especially popular with mainland Chinese and Indian nationals, says Wendy Tang, director of residential services at Knight Frank. “Those who are permanent residents tend to buy for their own occupation, while non-PRs are...
singapore property prices
Singapore property prices may continue climbing this year, contrary to a widely expected downturn, according to results of a survey by online portal PropertyGuru.com.sg. Most respondents said property in Singapore will remain expensive, and they are setting their sights on alternatives like commercial property and real estate investments overseas, the survey showed. Rising property prices are pushing...
New condominiums in the city fringe, particularly those next to MRT stations and near the heritage area of Little India, have seen prices setting new highs recently. According to caveats lodged with URA, over the week of June 28 to July 5, a seventh-floor 570 sq ft studio apartment at City Square Residences located at Kitchener Link was sold for $975,000, or a record $1,709 psf. Another unit in the...
Home buyers and real estate investors are less optimistic about property affordability than they were in the first quarter of this year, according to the results of a survey on property market sentiment, compiled by PropertyGuru. The survey shows that 79 percent of all respondents believe property in all categories in Singapore is expensive, an increase from 75 percent in the previous quarter. Conducted...
More prospective home buyers are concerned about rising prices and many believe properties in Singapore are too expensive. Real estate portal PropertyGuru.com.sg's consumer property sentiment index fell to 2.6 (from a scale of 5) in the second quarter, compared to 2.8 in the previous quarter. "What it says is that buyers expect the transactions and prices to carry on going up and so the expectation is...
The National University of Singapore's Institute of Real Estate Studies (IRES) will introduce a separate index - apart from its main Singapore Residential Price Index (SRPI) - to measure the prices of "shoe box" units, saying their price volatility has a significant impact on overall housing prices. "Our analysis presents evidence that small units increase house price volatility. Further, price changes of...
The Real Estate Developers' Association of Singapore (REDAS) said that prices of private homes should be left to market forces without any intervention from the government. This is according to recently appointed REDAS president Wong Heang Fine. Mr Wong, the CEO of CapitaLand Residential, replaced outgoing president Simon Cheong this February. Mr Cheong is the chairman of SC Global Developments. This is...
From January to May last year, prices of small apartment and condominium units rose 11.1 per cent compared to apartments and condominium units (or non-landed homes) in the prime and non-prime regions which saw lower gains of 5.4 per cent and 6.2 per cent respectively. According to data from the Institute of Real Estate Studies (IRES) at the National University of Singapore, prices of small units grew 6.9...
Standing at 43 storeys, the 312-unit The Clift residential tower stands out on the corner of McCallum Street and Telok Ayer Street. It is taller than every other building in its immediate neighbourhood, which comprises mainly conservation shophouses and older office buildings. Developed by property giant, Far East Organization (FEO), the project was completed in 1Q2011. The ground floor shop units have...
Private home prices in Singapore rose at a slower pace of 2 per cent in the second quarter, according to statistics from the Urban Redevelopment Authority (URA). This was in line with the flash estimates which showed a 1.9 per cent increase as announced earlier. The property price index stood at 203 points in the second quarter. In the previous quarter, the price index grew 2.2 per cent to 199.1...