There was a significant jump in the number of secondary market transactions at projects near the CBD earlier this month. In the Thomson area, at Sky@eleven, three units were sold in the first week of June for between $1,140 psf and $1,200 psf. The most recent transaction was a 1,851 sq ft unit on the 24th floor, which changed hands at $2.2 million or $1,200 psf. The seller had purchased the unit from the...
singapore property prices
Private home prices in Singapore have fallen for the fourth straight quarter, though at a slower pace. Initial estimates from the Urban Redevelopment Authority (URA) on Wednesday showed that the cost of private residential properties fell by 5.9 per cent in the second quarter, compared to the record drop of 14.1 per cent in the previous quarter - the steepest fall since 1975. Observers projected that...
Private home prices in Singapore have fallen for the fourth straight quarter, though at a slower pace. Initial estimates from the Urban Redevelopment Authority (URA) showed Wednesday that the cost of private residential properties fell by 5.9 per cent in the second quarter, compared to the record drop of 14.1 per cent in the previous quarter - the steepest fall since 1975. According to the latest...
Market watchers said prices of private residential properties could climb by between five and 10 per cent on average in the second half of 2009. Strong sales in recent months have driven prices up despite the economic slowdown. Concerns are being raised over a potential property bubble. Close to 6,000 units of new private homes have been sold so far in 2009. This has surpassed the over 4,200 deals done...
Prices of non-landed homes sold in Singapore in the second quarter of this year rose 28 per cent from the first quarter. CB Richard Ellis (CBRE) said the quarter-on-quarter increase was the largest for sales of new freehold non-landed residential projects. Prices of freehold units averaged S$938,000 in the second quarter, up from S$733,000 the previous quarter. A large proportion of the units sold were...
The dramatic improvement in sentiment has already resulted in property prices creeping up over the past two months, particularly in the secondary market. According to anecdotal evidence, owners are sticking to their asking prices, with some even withdrawing their properties from the market in the hope of fetching a higher price later on. At the prestigious Ardmore Park, the bellwether for luxury...
If you're looking to buy a private high-end property, market watchers said the resale market appears to be offering better deals right now. They said discounts of up to 50 per cent can be found in the resale market for Singapore private properties compared to developer launches where prices may only be lowered by about 20 per cent. Property market sentiment appears to be recovering with developers...
Brokerage Nomura said prices of residential assets in Singapore will take a W-shaped recovery, instead of its previous forecast for a U-shaped upturn. In a research report, Nomura predicts that there will be a positive quarter-on-quarter rise in property prices in the third quarter this year. This could occur because developers have seized on the recent positive market sentiment to clear their...
WITH sentiment in the mid- to mass-property market improving, the focus is now shifting to mid- and high-end projects, said Merrill Lynch in a report. Developers, riding on the renewed interest, “will be looking to move up the market and start launching their mid- to high-end projects which have been previously held off”, the report said. For the potential upcoming launches, Merrill estimated that...
There have been few transactions at the luxury end of the condominium market this year. But the few sales in the secondary market that have surfaced in the most coveted prime residential address in Singapore, Ardmore Park and Claymore Road, according to the caveats lodged from March 24 to April 7, show that some owners are prepared to let go of their freehold luxury condos at prices below $2,000 psf. At...