There is a distinct possibility of lower prices with so many developments set to be completed at the same time RECENT arguments against earlier predictions of a private housing oversupply are overblown, and cannot be further from the truth. In fact, those predicting an oversupply are probably understating their case. How bad the market fares will depend on the economy. But, leaving the economic factor...
singapore property prices
Rents in Singapore's prime residential sector are expected to ease further. According to consultants Jones Lang LaSalle, it's expecting to see a 4.5 per cent contraction for the whole year. It has already weakened by two per cent year to date. In its mid-year review on the Singapore property market, Jones Lang LaSalle also notes an easing in the resale prices of luxury projects in the prime...
Property analysts say prices are likely to fall further in the third quarter, but experts rule out massive declines because of the multiplier effect from Singapore’s two multi-billion-dollar integrated resorts (IR) now under construction. Housing demand is expected to pick up when the first IR in Marina Bay opens next year employing thousands of workers, said Mr Chua Yang Liang, Jones Lang LaSalle’s...
Singapore’s booming residential property sector is finally showing signs of cooling but projects including the two integrated resorts developments should underpin long-term prices, analysts say. The market was described by real estate giant Jones Lang LaSalle as the world’s hottest in 2007, when the city-state’s property prices surged 31 per cent overall. But this year the sector has not escaped...
Private residential property prices rose 0.4 per cent in the second quarter of this year, according to flash estimates released by the Urban Redevelopment Authority (URA) on Tuesday. The rise followed a 3.7 per cent increase in the first quarter. Prices of non-landed private residential properties increased by 0.2 per cent in the Core Central Region, 0.7 per cent in the Rest of Central Region and 1.3 per...
PRIVATE property sales by developers remained weak last month, with 441 units sold. That may be up 55 per cent from the 284 units sold in April, but over 3,000 new units remained unsold. That was despite developers cutting their prices for homes in 18 developments last month. Median prices for The Verve along Jalan Rajah, for example, dropped 17 per cent from $1,187 per sq ft (psf) in March to $985 psf in...
There has been a sharp pick-up in the number of private home sales in May - more than 441 homes changed hands, about 56 per cent higher than the previous month. Despite the spike, analysts said it is premature to talk about any strong rebound in the property sector. Colliers International’s director of research and advisory, Tay Huey Ying, said: “I wouldn’t say that this set of May numbers give a...
Sentiments in the Singapore residential property market continued to weaken in the first quarter on the back of a possible recession in the United States. Private home sales dropped by 40 percent in the first quarter of this year compared with the last quarter of 2007, according to a report by DTZ Research. Transactions of private condominium units, based on caveats lodged, fell 41 percent to 2,500,...
Sales of private properties have been sliding amid a standoff between buyers and sellers, say market watchers. In February, sales for new launches were only one tenth of the record numbers seen in August last year. Analysts also say that residential property prices may have finally peaked, although the fundamentals still support long-term growth. URA's latest flash estimates showed private home prices...