With the opening of Genting Singapore’s Resorts World at Sentosa integrated resort, there has been a flurry of transactions at Caribbean at Keppel Bay and also the upmarket condominium projects in Sentosa Cove. In the week of Jan 15 to 22 alone, there was a total of nine new sales and resales. The condominium that saw the most resale activity was the 969-unit Caribbean at Keppel Bay developed by Keppel...
singapore property prices
It’s starting to look like a self-fulfilling prophecy, as far as prices in the high-end residential segment in Singapore are concerned. Anecdotally, there’s evidence that some cash-rich speculators are also back in the market, according to some property consultants. Notable secondary market transactions in the week of Jan 8 to 15 at The Tate Residences, Ardmore II and Scotts Square have seen a spike...
Residential property prices in Singapore increased 7.4% in last three months of 2009 as the property market made a quick recovery from a nightmarish start to the year, the latest published figures show. This followed the previous quarter's increase of 15.8%, a turnaround from a fall of 18% in the first half of 2009, leaving the annual price increase at 1.8%, said the Redevelopment Authority. Prices of...
A Singaporean who only wants to be known as Mr Tan put his three-bedroom, 1,528 sq ft unit at Chuan Park condominium on Lorong Chuan for sale a month ago. Within a day, he found a buyer who was willing to pay his asking price of $980,000, or $641 psf. “We sold because the price reached our expectations,” he says in a phone interview. “The property may be old, but it is well-maintained. Rental demand...
Aspen Heights may be 11 years old, but the massive 606-unit condominium located along River Valley Road has been enjoying a resurgence of interest from homebuyers, riding on strong sales of new developments nearby. After only 15 transactions hovering at the $1,000 psf level in the first half of 2009, more than 30 units have changed hands in 2H2009, with prices surging past $1,400 psf. For the period Dec 23...
The opening of the second phase of the Circle Line MRT in April is definitely something to look forward to for residents living nearby. But those looking to sell or rent their homes are set to benefit as well. Property agents said the opening of the 11 new stations along the Circle Line is likely to push property prices up. Agents MediaCorp spoke to estimate home prices will increase by 10 per cent while...
Private home prices in Singapore continued to recover in the fourth quarter of last year, growing 7.4 per cent on-quarter. According to data from the Urban Redevelopment Authority, the rise is a slower pace from the 15.8 per cent jump in the previous three months. But analysts expect the cost of homes to still creep up this year, and match the peak levels seen in the second quarter of 2008. Mass market...
Private previews of The Shore Residences (the former Rose Garden enbloc site) by Far East Organization in December followed by an official launch on Jan 1 drew crowds to the showflat on weekends. The new 408-unit development opposite Katong Shopping Centre has seen close to 200 units sold at an average price of $1,175 psf as at last week. What’s more, the project has also spurred renewed interest in the...
The luxury housing sector is expected to lead the way for the Singapore property market this year, according to real estate broker Savills. Savills is forecasting that prices in the luxury segment will rise 15 per cent in the year ahead. However, prices in the mass market and mid-end properties could see values move up by about five per cent. Last year, despite the deep economic recession, private...
Since the completion of The Metropolitan last June, prices of the 382-unit condominium located along Alexandra View have increasingly crossed the $1,000 psf level, even surpassing the peak in 2007. Last September, a historical high of $1,332 psf was reached when a 732 sq ft unit on the 24th floor was sold for $975,000. Prior to its completion, prices there had largely hovered below $1,000 psf since its...