Resale prices of private non-landed homes increased 2.7 per cent in February when compared with January 2013, according to flash estimates put out by the Singapore Real Estate Exchange (SRX). SRX compiles data from 11 top property agencies in Singapore. Leading the rise were properties in the suburbs. Resale prices of non-landed private homes in those areas rose surged 5.1 per cent on-month to an average...
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New home sales in January were robust despite the introduction of yet another round of property market cooling measures that month, with developers selling a total of 2,013 private residential units, excluding executive condominiums (ECs), representing a hefty 43 per cent surge from the previous month. The strong sales performance was due partly to attractive pricing and other incentives in the aftermath...
Big institutional investors have been actively buying up properties across the region. Property investments by pension, insurance and sovereign wealth funds have doubled over the last two years. And some of these investments have spilled over into the Singapore property market. Property sales for investment purposes hit S$31.45 billion in Singapore last year. These include purchases of government land,...
Ultra Mansion, a freehold residential development near Novena MRT station in prime District 11 has been sold through a collective sale for S$149.130 million, in a deal brokered by Cushman & Wakefield (C&W). “The sale of Ultra Mansion following the recent round of cooling measures illustrates the attractiveness of Singapore’s residential real estate market for investment. Residential units in...
Real estate group Top Global has made a 10 to 15 per cent downward adjustment to the prices of its two soon-to-be-launched condominiums in response to the recent slew of property cooling measures, and further changes may be made according to demand. The freehold residential developments — R Maison and E Maison — are situated at Braddell Road and Somerville Walk, and are targeted at mid- to high-income...
The Monetary Authority of Singapore could be about to slash the Mortgage Servicing Ratio (MSR) for private residential properties in a further bid to moderate home prices, PropertyGuru understands. The move, which sources have indicated will be announced imminently, is another bid to moderate home price growth which recorded a spike at the end of last year. The Urban Redevelopment Authority’s (URA)...
Property market activity is expected to pick up in the next two months as several new condominium projects are likely to be launched. Analysts say this may lead to more sales transactions, especially from first-time home buyers. But despite the property-cooling measures introduced earlier this year, they say prices of new units are not likely to fall. Sennett Residence at Potong Pasir, with over 300...
The moribund property en bloc sales market looks set to cool down further. Experts expect total transactions in the collective sales market to decline to around S$1.5 billion in 2013. Global real estate services firm, Jones Lang LaSalle expects en bloc activities in Singapore to slow down from S$3 billion in 2011 to S$2 billion in 2012 and likely to go even lower than 2012 numbers this year. However,...
Singapore property prices still have "some ways to go" before reaching an acceptable level, according to Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam. Speaking in a Bloomberg Television interview, Mr Tharman said Singapore's property is now in a wrong part of the cycle, and prices would become acceptable through a combination of income improvement and prices not going up...
The government has revised the development charge (DC) rates, with the steepest increase in the commercial and industrial segments. A development charge is a levy that is payable by the developer when a property site is developed into more valuable project. In a statement, the National Development Ministry said DC rates for commercial segment will increase by an average of 24 per cent. Areas seeing the...