Hungry Ghost Festival is over and buyers are set to return, say analysts DESPITE Monday's announcement by the Government to cool the hot property market, observers expect private property showrooms to continue to be packed with eager homebuyers and investors this weekend. Some property agents whom Weekend Today spoke to said that enquiries over the past week have been brisk, with some asking about early...
singapore property
Credit Suisse says bid spread shows developers wary SHARP differences in bid prices offered by developers in the latest Urban Redevelopment Authority tender for a residential-commercial site at Yio Chu Kang suggest that the Government's recent measures to cool the housing market are starting to take effect, said financial services firm Credit Suisse. The tender closed on Thursday, drawing a total of 12...
In the Marina Bay area, transactions at Marina Bay Residences have once again reached stratospheric levels, with prices returning to levels seen in 2H2007. Sub-sales of units at Marina Bay Residences have steadily crept up from a low of $1,433 psf in April to a high of $2,500 psf last month. This is the highest price per square foot achieved not just in 2009 but since May last year, when a 3,961 sq ft...
So far the market seems to have taken in its stride the removal of the interest absorption scheme (IAS) for properties. The knee-jerk decline of 43 points by the STI on Monday was followed by a sharp rebound on Wednesday as broader economic recovery factors continue to dominate. But there is an impending overbuilding of residential property in Singapore. According to Leong Wai Ho,director and senior...
Prices of 99-year non-landed homes sold in the third quarter of this year have increased across the board – across new, resale and sub-sale markets. CB Richard Ellis, the world's largest commercial real estate services firm, said its analysis of caveats lodged showed an 11.0 per cent in median prices of new leasehold homes - from S$825,000 (S$660 psf) in the second quarter to S$916,000 (S$769 psf) in...
Property investment sales rose 13 per cent between July and September to S$1.8 billion, compared to the previous quarter. The improved performance was buoyed by better market and investor sentiments. In its latest report, property consultancy Jones Lang LaSalle said the residential sector dominated investment sales, accounting for 52 per cent of total sales. Investment sales in the residential sector...
This year's Hungry Ghost Festival has spooked buyers in the property auction market, but enough cash was still burned up to set a three-year high in sales. Property consultancy Colliers International said on Wednesday only 14 out of 85 properties put up for auction during the Hungry Ghost Festival, which began on August 20, were sold. That works out to a successful transaction rate of just 16.4 per...
Singapore's private home sales in August fell 39 per cent short of July's - when a record 2,772 units were sold. According to data by the Urban Redevelopment Authority, just 1699 homes were sold in August. According to analysts, while these numbers may be relatively low, they're still better than expected as the Chinese Hungry Ghost Festival typically depresses sales even more. A dip in the number of...
Measures to pre-empt any speculative bubble from forming in the private property market have been outlined in Parliament by the National Development Minister. Mr Mah Bow Tan said one of the steps to "temper the exuberance" of the market will be the immediate withdrawal of the interest absorption scheme and interest-only loans being offered for purchases of uncompleted property developments. Under the...
The encouraging response to the launch of City Developments’ 85-unit high-end Volari (the former Garden Hotel) at an average price exceeding $2,000 psf and improved sentiment in the property market have lifted prices of condominiums in the Balmoral neighbourhood. Adjacent to Volari is the 40-unit Sui Generis, jointly developed by Kajima Overseas Asia and United Engineers, and which set a benchmark for...