Prices of luxury condos have continued to rise this year but a new rule may soon tie the hands of the developers. Currently many developers have picked their time to launch developments when sentiments are good and decent prices can be charged. But under the rule changes which are expected to come in early next year, they may lose this choice. If they exceed the project completion period on sites bought...
singapore property prices
The Real Estate Developers' Association of Singapore (REDAS) has underscored the importance of stable property prices for the country. REDAS President Simon Cheong, was giving a speech at his association's 51st anniversary dinner. He said along with other Asian economies, Singapore is resorting to tightening measures to deal with the threat of an overheating property sector. Prices will be impacted as...
Non-landed private home prices saw a 0.7 percent decline in October, after a 1.1 percent monthly increase in both August and September, according to the Singapore Residential Price Index (SRPI) of the National University of Singapore (NUS). The decline was attributed to falling prices in the “non-central” and “central” locations, which saw a drop of 0.5 percent and 1.1 percent, respectively. The...
It’s easy to understand why The Sail is the most actively traded project in the prime Marina Bay area. When the 63-storey Tower Two of the 1,111-unit project was first launched in 2004, units were priced at $900 to $1,000 psf, while the first batch of 100 units released at the 70-storey Tower One a year later averaged $1,080 psf. Today, on the secondary market, owners of units with pool views are asking...
Prices at the 646-unit Icon on Gopeng Street reached a new high of $2,515 psf on Oct 15, when a 1,119 sq ft penthouse on the 46th floor was sold for $2.8 million. This breaks the previous record of $2,457 psf in November 2007, when another similar-sized unit on the same floor went for $2.75 million. The new high set at the four-year-old, 46-storey condominium was for a prime unit sold by developer Far...
After all these years, condominiums along Bayshore Road off the East Coast Park Expressway (ECP) in District 16 continue to be sought after by homebuyers and investors. “There is robust demand for properties in this area, the biggest draw being their proximity to East Coast beach and park,” says Huttons senior marketing associate Mervin Tan, who specialises in marketing the properties in the...
Prices of units at The Interlace hit an all time high of $1,323 psf in October, with apartments released in the first two phases almost sold out. So far, more than 90% of the 590 units released have been sold. In the first phase, 360 units were put up for sale in September last year, and in the second phase, 230 units were released in April this year. In the first phase, prices ranged from $850 to $1,150...
Geylang is providing another housing option for those who want to buy condominium units at relatively affordable entry price levels, but which offer steady rental income, say property agents. One such example is Atrium Residences, a 142-unit freehold apartment block at Lorong 28 Geylang, which saw four transactions at prices ranging from $715 to $743 psf in the Sept 28 to Oct 5 period. Developed by niche...
Prices of housing and development board properties in Singapore are expected to fall up to 10% in the next six months while those of private real estate will rise up to 7%, according to a new survey. It will create a two tier real estate system making it harder for people to upgrade in a country where property accounts for almost half of private wealth, according to the poll of property analysts by...
A couple months after the introduction of property cooling measures, property experts feel that Singapore private home prices are likely to be fairly flat until the end of the year. Mr Mohamed Ismail, chief executive PropNex, expects the Urban Redevelopment Authority's price index to reach a plateau in the current fourth quarter, with another 2 per cent growth at most. Reason given is because buyers are...