Private residential property prices are expected to fall as much as 12 per cent over the next three months. This is according to analysts who also expect demand for private homes to decline as well over the next few months. Analysts say the recent move by the Government to introduce additional buyer's stamp duty (ABSD) as a further cooling measure may dampen demand from potential upgraders who make up the...
singapore property
The mass-market segment will still be resilient in the coming months, particularly for developments in the Outside Central Region (OCR). Last year, mass market homes, excluding executive condominiums (ECs), hit a record, selling 65 percent or 10,374 units of the total number of new private homes in the OCR, based on the Urban Redevelopment Authority’s (URA) figures. Comparatively, OCR home sales...
Nearly 500 new residences were sold over the past week, as developers stepped up their marketing efforts, fuelled by good transaction figures last month. In January, 1,872 new private residences were snapped up, the highest since November 2010, and property developers want to keep the ball rolling. Developers are speeding up the launch of more homes to ride on positive buying sentiment and to secure...
Singapore remains the ninth most expensive city to rent property in the world, and the third most costly in Asia, according to a survey by ECA International. This is despite the average rent for an unfurnished three bedroom apartment rising only three percent last year, one of the lowest in the region. This is a much lower rate of increase than the previous years when rents rose over 10 percent. However...
Encouraged by the strong take-up of properties in January, property developers of mass-market residences will likely continue the launch momentum this month, according to Colliers International. The consultancy said it is also advantageous for developers to proceed with their launches instead of opting for a later date, when home prices may come under pressure due to buyers’ cautious sentiment, an...
When last December's dismal showing of only 632 private homes sold were revealed in the middle of last month, many were bracing themselves for further shocks in the coming months. They did receive one just two days ago - only, not the kind they expected. Developers sold 1,872 new homes in January, almost treble the number sold the previous month. Yes, sales were dominated by a few projects but that has...
The recently imposed Additional Buyer's Stamp Duty (ABSD) on certain categories of residential properties had some analysts predicting a spillover of demand to non-residential properties like industrial, retail or office strata units, but the situation might not be as straightforward as it seems. Industrial strata units have always been an alternative investment to residential properties given its...
Singapore’s private property market has witnessed stellar growth in recent years, yet that outstanding performance has also seen a rise in the number of empty homes in the city state. At the end of last year, there were 15,890 unsold homes in Singapore – a substantial increase on the 12,740 at the start of the year. Right now, almost six percent of all private homes in Singapore remain...
After several weeks of stagnation, the bungalow market is starting to move again, as the stock market becomes more solid and the Eurozone crisis has shown improvement of late. “The market is surprisingly getting back its momentum and buyers are making offers for units which are reasonably priced,” said William Wong, Managing Director at RealStar Premier Group, which specialises in bungalows around...
Demand for new private residential properties in Singapore rose sharply in January according to data from the Urban Redevelopment Authority. Last month, 1,872 units of new homes, excluding executive condominiums (EC) were sold - more than double the 632 units moved in December. The top selling project in January was Watertown situated at Punggol Central, with 770 units sold. Other star performers for...