Private home prices rose 3.4 per cent in the second quarter of this year, according to the latest figures from the Urban Redevelopment Authority (URA) on Friday (Jul 27). This continues a rising trend in the last three consecutive quarters, with prices rising 3.9 per cent in the first quarter of this year, 0.8 per cent in the preceding quarter and 0.7 per cent in the third quarter of last year. For...
Developers may trim prices of new launches by as much as 10 per cent from their earlier indications in response to the latest round of property cooling measures, with high-end homes likely to see bigger adjustments, analysts say. In downgrading their stock ratings across several developers, some have started pricing in a 5-10 per cent reduction in average selling prices (ASP) in their forecasts, though...
The Monetary Authority of Singapore (MAS) managing director Ravi Menon has advised developers, home buyers and banks to exercise caution amid “euphoria” in the current property market. Mr Menon said that while the recovery seen over the past few quarters is welcomed, the rise in property prices should be in line with economic fundamentals and not get ahead of income growth. “There is euphoria...
Home prices are regaining the ground they lost since values started slipping five years ago with figures out yesterday underlining the buoyant market. The gains have been so robust that analysts are tipping that prices could hit a new peak by the end of the year. Their optimism stems from flash estimates showing that private residential values rose 3.4 per cent in the three months to June 30 - the...
Private home prices jumped to the highest in four years, based on flash estimates from the Urban Redevelopment Authority (URA) released on Monday (July 2). URA data showed that prices went up 3.4 per cent between April and June, following a 3.9 per cent increase in the previous quarter. Overall, the private residential property index increased 4.9 points from 144.1 points in the first quarter to 149...
Private home prices rose to its highest point in four years in the April to June quarter as transactions and new launches increased and liquidity from en bloc sales flowed into the market, with analysts predicting that prices could recover to 2013 peak levels soon. The price index for private residential property rose by 3.4 per cent to 149 points in the second quarter, extending a 3.9 per cent increase...
Luxury residential homes crossing the S$4,000 per square foot (psf) mark in Singapore’s prime Orchard Road area have been few and far between in recent years. However this could change given the recent spate of record-setting land sales and upcoming launches in the district. Shun Tak Holdings (a Hong Kong-listed company) said on Wednesday that it has purchased two freehold redevelopment sites for a...
Prices of private condominiums and apartments continued their climb in May to hit a new high, although volumes slightly dipped according to flash data from real estate portal SRX Property released on Tuesday. This comes as the monthly price change for April 2018 was revised sharply upwards to 1.2 per cent, from the earlier estimate of 0.6 per cent. Resale prices of non-landed private properties rose...
A newly built freehold bungalow in Jervois Hill is being sold for S$41.2 million, which works out to about S$2,729.52 per square foot on land area of 15,094 sq ft. This is a record price in terms of psf on land area for a transaction in a Good Class Bungalow Area – busting the previous high of S$2,350 psf set last year for a bungalow in Cluny Hill near the Botanic Gardens. That deal, which amounted to...
Private home prices in Singapore continued their decline in the first quarter of this year – the 14th straight quarter of contraction, according to flash estimates released by the Urban Redevelopment Authority (URA) on Monday (Apr 3). The private residential property index fell to 136.5 points in the first quarter, down 0.7 point from the previous quarter. This represents a decline of 0.5 per cent,...
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