With the assurance from the Government that the property cooling measures are here to stay, housing market sentiment will remain weak as buyers stay longer on the sidelines, said analysts yesterday. This is because those looking to buy a new property can look forward to further downward price correction, after Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam said on Friday that there is...
singapore property
The Singapore government plans to keep property market cooling measures in place for the time being, said Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam on Friday, even as real-estate prices have shown signs of stabilising after large increases in recent years. "Given the run-up in prices in the last four years, it is too early to start relaxing our measures," Mr. Tharman told...
While a growing number of property market participants are calling for the Government to tweak some of the measures introduced to cool the market, observers said it may be premature to do so as there is still room for the sector to stabilise. Economists TODAY spoke to have raised concerns that any unravelling of the cooling measures before interest rates start to rise would, once again, heighten the...
Billionaire Kwek Leng Beng, head of Singapore’s second-largest listed developer, said last year that skyrocketing prices and restrictive rules made buying residential land here suicidal. That has not stopped international developers from rushing in. Land prices in some parts of the country are climbing at three times the pace of apartment costs, with plot values rising by an average of 30 per cent...
Property developer CapitaLand says it is unlikely to take an aggressive position in Singapore's residential property sector in this current market cycle. Group CEO Lim Ming Yan expects home prices to continue to moderating this year. Speaking to Channel NewsAsia at an earnings briefing on Wednesday, Mr Lim says the market consensus is for home prices to fall by five per cent to slightly over 10 per...
New private home sales in Singapore remained in the doldrums in January, as developers held back launches and lending restrictions depressed demand. According to data from the Urban Redevelopment Authority (URA), developers sold just 565 new private homes last month, up from December's four-year low of 259 units. Last month's figure was, however, well below the 2,028 units sold in January...
Singapore's property prices could fall by 10 to 15 per cent this year, as government cooling measures and mortgage curbs continue to dampen the property market. This is the outlook from DBS Bank's CEO Piyush Gupta. His comment came during the bank's results briefing on Friday. Since 2009, the government has rolled out a series of measures to rein in property prices, and the impact is...
The number of resale transactions in the non-landed private home market plunged 70.2 per cent in January compared to a year ago. Analysts attributed the decline to the effects of cooling measures and loan curbs introduced last year. According to the latest data from the Singapore Real Estate Exchange (SRX), which compiles data from property agencies in Singapore, 310 private homes were resold in...
It must be a developer’s worst nightmare to flip open the newspapers and read the bold headlines screaming that new home sales have plunged to their lowest level in five years: That was exactly what happened last week. Data from the Urban Redevelopment Authority showed developers sold a paltry 259 new homes last month, down more than 90 per cent from the record high in last March of 2,793...
Prices of resale private homes climbed 2.3 per cent in January, even as transaction volumes dropped 9.1 per cent over the same period. According to the latest data from the Singapore Real Estate Exchange (SRX), which compiles data from property agencies in Singapore, 310 non-landed private homes were resold in January 2014. Compared to a year ago, January's resale volume plunged 70.2 per cent. 1,039...