Private home prices in the second quarter rose at a slower pace than the previous quarter indicating that the red-hot property market might be cooling down. This is according to the latest flash estimates from the Urban Redevelopment Authority (URA). The price index rose 1.9 per cent to 202.8 points, compared with the 2.2 per cent increase in the previous quarter. URA said the rate of price increase...
singapore property
The expected surge in the supply of new Housing and Development Board (HDB) flats and private homes over the next few years will not lead to a housing glut in 2013/ 2014, according to a recent Citigroup property report that made news for its contrarian view. Citigroup's analysis looks at Singapore's housing stock in totality, taking into account both private and public housing, saying they are closely...
Home buyers - especially those buying for owner-occupation rather than investment - have frequently commented: "I want to wait for the next downturn before I purchase my home." They have been saying this for the past 12 to 18 months. Till today, they remain adamant about the impending downturn of the property sector. If they are lucky - lucky of the Big Sweep kind - a sharp downturn might come soon....
The rise in private home prices in Singapore has accelerated, reports released yesterday showed, as the Government again reminded buyers of the large supply in the pipeline in a bid to calm the market. The NUS Singapore Residential Price Index (SRPI) gained 2.5 per cent last month from April, following a revised 1.1-per-cent rise in the previous month. The SRPI is a transaction-based index that tracks the...
Non-landed private home prices in Singapore continued its uptrend in May, rising 2.5 per cent from April. The National University of Singapore's Singapore Residential Price Index (SRPI) showed that the month-on-month increase in the overall index in May was sharper than the 1.1 per cent rise the month before. NUS's price index for properties in the central area jumped 3.5 per cent in May, while...
Resale prices of private homes continue to rise in the second quarter of this year. According to DTZ Research, resale prices of private residential properties increased at a faster rate across all segments in the second quarter of this year compared to the first. It says the average resale price of leasehold condominiums in the suburban areas rose the fastest by 3.9 per cent on-quarter, compared to 0.8...
Property agents have been reporting a drop in Good Class Bungalow (GCB) sales, as the gap between asking and offer prices widens. About S$750 million worth of sales have already been closed so far this year, for the residential market’s ultra-elite segment in Singapore. In 2010, a record S$2.3 billion worth of GCB deals were witnessed. Among the latest transactions in Singapore’s GCB areas is the...
National Development Minister Khaw Boon Wan has urged potential homeowners to weigh the benefits and risks of buying so-called "shoe-box" apartments. These are housing units which measure 500 square feet or less. In his latest blog entry, Mr Khaw said the government is watching the development of these units. Last year, about 1,900 of such apartments were sold, compared to 300 units in 2008. In...
2013 is less than two years away. I am feeling less lonely in expressing my views about the physical completion supply of residential units. It has been five years since I started to scrutinise the total stock of residential units in the pipeline, that is, current stock plus expected completions minus demolitions from en bloc programmes. Occasionally, people still ask: "Why look at completed supply when...
Singapore's property market will be likely to experience a strong second quarter, with new home sales volume expected to hit 4,000 units, according to real estate consultancy CB Richard Ellis (CBRE). CBRE said this would make it 11.3 per cent higher than the 3,595 new homes sold in the first quarter and close to the 4,241 units sold in the fourth quarter of 2010. The top five projects which have...