Some truths are cast in stone. In real estate, "location, location, location" is said to be the most important thing that determines a property's value. In economics, the law of supply and demand - the more there is of one item, the lower its price - is often the foundation of all market theories. Both of them are about to converge in Singapore's housing market, where at least 10,000 new homes could...
singapore property prices
Prices at Park Infinia at Wee Nam hit an all time high of $2,180 psf last month. This is the second time prices at the three-yearold condominium along Lincoln Road have breached the $2,000 psf level. Before this, a 560 sq ft unit on the 30th floor was sold for $1.13 million ($2,019 psf) in April. The 486-unit condo was developed by Keppel Land and completed in 2008. Across the road, at the 85-unit Miro by...
National Development Minister Khaw Boon Wan on Thursday sounded the alert on the spike in property prices in his latest blog posting. He said things can go very wrong suddenly and gave three reasons. Firstly, 35,000 private homes have already been sold - though still in construction - with payments in various stages of completion. And there are 45,000 units in the pipeline, waiting to be built and...
Prices of luxury homes in Singapore have moderated in the first quarter of this year due to property cooling measures, data from CB Richard Ellis' (CBRE's) Asian Luxury Residential Capital Value Index showed on Monday. The measures, announced in January, included raising the seller's stamp duty and reducing credit available to those who already have outstanding mortgages. CBRE said the increase in prices...
There has been a flurry of transactions at The Sail @ Marina Bay, with prices playing catchup with those at Marina Bay Residences (MBR). Last month, a unit at MBR hit an alltime high of $4,368 psf. A 2,368 sq ft apartment on the 46th floor was sold for $10.3 million on April 15. This trumped the previous record of $3,790 psf, which was achieved when a 1,959 sq ft unit on the 46th floor was sold for $7.2...
Private non-landed home prices in Singapore rose slightly in April, according to the NUS Singapore Residential Price Index. The overall index increased 1.0 per cent from March to an overall index value of 162.4. The index covers completed non-landed properties in the central and non-central regions. The index for properties in the central area rose 0.8 per cent in April. Non-central properties rose 1.1...
Homes around Cairnhill and Scotts Roads are getting a buzz from new launches and the completion of condominiums in the neighbourhood. CapitaLand recently launched its boutique development, the 64-unit Urban Resort Condominium, and of 34 units launched, 21 had been sold as at end-April, with the latest median price achieved at $3,076 psf, according to the latest data by URA. At the neighbouring The...
Savills Singapore has reported that the prices of non-landed luxury homes it monitored remained steady in the first quarter of the year. Savills’ data showed that the average price of non-landed luxury private homes remained steady at S$2,269 psf in the first quarter, rising marginally by 0.5 percent quarter-on-quarter from S$2,258 psf in the last quarter of 2010. The average price of “super...
A new price record has been set for private property in Singapore. According to an anonymous source, a four-bedroom apartment at SC Global Developments’ The Marq on Paterson Hill has been sold for S$5,842 psf, surpassing the previous record of S$5,600 psf at The Orchard Residences in October 2007. In addition, the recent transaction at The Marq sets a new benchmark for the project, exceeding the...
Prices of units at Watermark@Robertson Quay hit a high of $1,879 psf last month as the three-year old condominium played catch-up with neighbouring projects overlooking the Singapore River. From April 12 to 19, there were three transactions at Watermark, with prices ranging from $1,647 to $1,879 psf. Keith Tan, an agent with APRO Realtors, says there has been increased interest in Watermark, owing to the...