Sales of private homes fell 25 per cent in June from a month earlier, according to data released on Friday by the Urban Redevelopment Authority (URA). A total of 1,182 private residential units were sold last month, down from 1,575 units in May. Private homes in the Outside Central Region (OCR) accounted for 833 of the units sold in June, compared with 227 units in the Rest of Central Region (RCR) and...
singapore property
Interest in GuocoLand’s Paterson Residence has been creeping up recently as three units in the development were sold in June for as much as $2,200 per sq ft (psf). On June 7, a 1,658 sq ft apartment on the 14th floor was sold for nearly $3.65 million. It was bought in July 2006 for $2.45 million, or $1,477 psf, which means the owner made about $1.16 million in profit from the sale. On June 8, a similar...
Interest rates are at an all-time low, but what will happen if rates begin to rise, asks Colin Tan These days, when I am asked in casual conversations about the local housing market, I am at a loss for words. Do I describe the market assuming that housing interest rates remain as they are, which has been abnormally low for about two and a half years now, or do I launch straight into the explanation of...
After three rounds of cooling measures, what's next for Singapore buyers, asks Tan Kok Keong Recently, I was on a panel discussion at Bank of America's Asian Stars 2011 conference. The topic that day was "Regional Housing Policy: How Bad Can it Get?", and panelists included the head of research of Centaline Group, the vice-chairman of Hong Kong Housing Society and the vice-president of Malaysia Property...
Ku Swee Yong dives into the details of the OCR to get a clearer view of where property prices in Singapore are trending As a follow up to "Massive home supply to hit outskirts" (Today, June 24), I'd like to take a closer look at the residential transactions in the Outside Central Region (OCR). In the June 24 commentary, I was concerned that "the proportion of units in the outskirts and mid-tier locations...
Investment sentiment in the Singapore property market remains positive but there are few core assets for sale. That's according to property consultants DTZ Research. It found that investment in properties held firm in the second quarter, with S$8.3 billion of value transacted. That's higher than the S$8 billion of transactions recorded in the first quarter. On a year-on-year basis, DTZ said investment...
Property consultancy firm Savills is expecting 10,000 new homes to be launched in the second half of the year, according to the company’s latest report. The projects will primarily come from the Government Land Sales (GLS) programme, with most of the homes aimed at the mass market segment. Savills noted that this year’s supply of new private homes will surpass 2010’s 18,000 new homes, according to...
Most indicators are pointing to a gradual moderation in the property market in Singapore. But latest figures showing a 1.4 per cent month-on-month growth in home loans have got some analysts wondering if the outlook is as clear cut. Latest figures from the Monetary Authority of Singapore (MAS) showed that building and construction loans growth in May fell 13 per cent month-on-month to S$59 billion. New...
Views of the Singapore River are commanding a premium today. On June 3, a penthouse unit of 5,511 sq ft at The Trillium on Kim Seng Road was sold for $12.4 million, or $2,250 psf. Within a week, a second unit, slightly smaller at 1,798 sq ft, was sold for $3.4 million, or $1,908 psf. The Trillium penthouse transaction is the highest so far for the development in terms of price psf. The development has 236...
Prices of HDB resale flats have increased 2.9 per cent in the second quarter of this year compared to the previous quarter. Flash data released on Friday by the Housing and Development Board (HDB) shows that its resale price index in the second quarter this year came in at 179.9. The rate of price growth in the second quarter is higher than the previous quarter's 1.6 per cent hike. HDB said it is on...