With the General Election (GE) just around the corner, several people have asked me whether I think the poll results would have an impact on the private housing market. If you are asking whether investor confidence in private property here would be affected, the answer is a definite no. Whatever the outcome of the polls, be it by a clear margin or a narrow victory for the ruling party, I feel the...
singapore property
This year started off strongly for Government Land Sales (GLS) en-bloc sales. Under the GLS, seven residential sites, including two for executive condominiums, were launched and sold, generating over S$2.5 billion for government coffers. With the residential market hot from robust sales volumes and continued strong interest from developers, I am concerned that some of the estimates for break-even and...
Singapore's private home prices moderated again in the first quarter of this year, growing 2.2 per cent compared with 2.7 per cent in the previous quarter. This is the sixth straight quarter in which growth in private home prices has slowed down. Final data released on Monday by the Urban Redevelopment Authority (URA) also showed that prices of non-landed residential properties rose 1.7 per cent in the...
The luxury residential property sector should be performing quite consistently this year but luxury residential property prices look unlikely to climb to pre-crisis levels anytime soon, according to market-watchers. "Current prices for luxury residential property prices per square feet (psf) are in the S$2,500 to S$4,500 range," said Mr Liang Thow Ming, executive director and head of residential services...
Singapore’s recent rounds of property cooling measures have started to take their toll, according to Keppel Land. Based on the preliminary projections from the Urban Redevelopment Authority (URA) in the first quarter of this year, approximately 3,700 new homes were sold, 12.7 percent lower compared to Q4 last year. Home prices climbed at a slower rate of 2.1 percent in Q1, registering the sixth straight...
Sales of luxury homes in Singapore have remained low due to the economic crisis in the US and Europe, though buyers are slowly returning, according to a top executive of Heeton Holdings. Danny Low, Chief Operating Officer of Heeton, said the low luxury home sales in the country can also be attributed to the increasing number of locations competing for high-end buyers. Mr. Low was speaking during the soft...
Homes in suburbs such as Simei and Buangkok are enjoying a resurgence of interest owing to their affordability and accessibility as new malls and MRT lines are built. The appreciation in the prices of such property is prompting some homeowners to cash out at a profit. In Buangkok, prices at the 99-year leasehold Hougang Green recently hit a peak of $837 psf in February when a 764 sq ft unit on the 10th...
The National Solidarity Party (NSP) has said there would be no future for Singapore if the People's Action Party cannot secure cheaper housing for future generations. It was responding to the ruling party's manifesto entitled, "Securing the Future Together", which was released on Sunday. The NSP's Secretary General, Goh Meng Seng, along with his party's members and volunteers, covered the Chua Chu Kang,...
Sales of private residential properties increased in March, bucking four consecutive months of decline. Data released on Friday by the Urban Redevelopment Authority (URA) showed that 1,386 private homes were sold last month, up 25 percent on-month from the 1,105 units sold in February. Including executive condominiums, the total sales would have reached an even more impressive figure of 1,543. The...
Property market cooling measures have been the recurring and persistent market risk across Asia over the past few months. Singapore is no exception. Since the introduction of a new set of measures in January, sales volume has slowed and the pace of increase in overall private residential property prices has moderated. The flash estimate of the Urban Redevelopment Authority's (URA) private residential...