Hot-money flows into Asia have hogged the headlines for much of the past month as the investment community acted in anticipation of the second round of quantitative easing that the United States Federal Reserve is expected to unleash. Rapid and large fund flows into a region tend to inflate prices in all asset classes, creating wealth in the destination countries. Typically, such new wealth created tends...
singapore property
With the development of shoebox apartments and a bigger proportion of smaller units in condo developments, the average size of non-landed homes used to estimate housing supply in the GLS Programme has shrunk. To arrive at the average size for every home assumed, The Business Times chose sites by location and then divided each of their gross floor area (GFA) by the number of potential homes estimated by...
Non-landed private home prices saw a 0.7 percent decline in October, after a 1.1 percent monthly increase in both August and September, according to the Singapore Residential Price Index (SRPI) of the National University of Singapore (NUS). The decline was attributed to falling prices in the “non-central” and “central” locations, which saw a drop of 0.5 percent and 1.1 percent, respectively. The...
It’s easy to understand why The Sail is the most actively traded project in the prime Marina Bay area. When the 63-storey Tower Two of the 1,111-unit project was first launched in 2004, units were priced at $900 to $1,000 psf, while the first batch of 100 units released at the 70-storey Tower One a year later averaged $1,080 psf. Today, on the secondary market, owners of units with pool views are asking...
National Development Minister Mah Bow Tan said there are signs that measures to cool the property market have taken effect. There has been at least a 20 per cent drop in HDB resale transactions this quarter while Cash-over-Valuation (COV) is down some 10 per cent from the third quarter. Mr Mah was speaking at the ground breaking ceremony of the SkyVille@Dawson and SkyTerrace@Dawson on Saturday...
Rock-bottom interest rates the flow of overseas money into the market are just the ingredients that could heat up property prices and encourage excessive borrowing. But the Monetary Authority of Singapore (MAS) said the Government is keeping a close eye on the market and is ready to introduce additional cooling measures if necessary. MAS's annual Financial Stability Review warned that the flow of funds...
Just when you think that the cost of money in Singapore cannot possibly get any cheaper, this paper reported on Wednesday that the battle among banks here to secure more home mortgages is intensifying. Malaysian bank CIMB is offering to charge private-home buyers only 0.65 per cent more than the three-month Singapore Interbank Offered Rate (Sibor), which is currently at 0.44 per cent, for the first two...
Land prices stabilising as they have reached their peak: Analysts The time is ripe for real estate developers to build up their land banks as land prices are stabilising, according to analysts. According to Nomura's latest Singapore property report, the recent tender for the 13,000-sq-m Upper Serangoon View site attracted "very tight" bids. The top bid, put in jointly by Frasers Centrepoint, Far East...
CapitaLand, Singapore’s biggest developer, said government measures to curb property speculation are “incremental” and will help the real estate market development sustainably over the long term. Singapore raised down payment requirements in August for second mortgages and imposed a stamp duty on homes held for less than three years to curb speculation after prices surged. It will sell 17...
Enough land to generate 14,300 private residential units has been released in Singapore under the government land sales programme for the first half of 2011. This came as the Monetary Authority of Singapore (MAS) said that more measures may be taken, if necessary, to cool real-estate prices. Analysts said the Singapore government's move is aimed at preserving sanity in the property market by boosting...