AFTER WEEKS OF watching property prices and private property sales burgeon, the government has made its stand fairly clear. It will not tolerate a property bubble this time around. Certainly, it won’t allow local property prices to get out of hands. National Development Minister Mah Boh Tan said today that Singapore was “monitoring the market closely” to prevent any froth and had the tools in hands...
singapore property
The government is seeing some signs of speculation in the Singapore property market, according to National Development Minister Mah Bow Tan. Speaking on the sidelines of the topping out ceremony of the Marina Bay Financial Centre on Wednesday morning, Mr Mah said the government is monitoring the situation. It is uncertain if the buying momentum seen in recent months can be sustained, he added. "The...
Over 70 per cent or 180 units at the Meadows@Peirce condominium were sold at a private preview on Friday before the official launch next week. In a statement, property developer UOL Group said a total of 250 units were offered at the preview. The developer had initially planned to release 150 units, but it added 100 more due to overwhelming response. UOL said it will also bring forward its official...
Private home prices in Singapore fell 4.7 per cent in the second quarter of this year, compared with the previous three months. Although that marked the fourth straight quarter of falls, the pace of the decline appeared to be moderating. Prices fell a record 14.1 per cent on quarter in the January to March period. The second quarter decline was also better than 5.9 per cent fall predicted in the advance...
More homeowners at Horizon Towers are putting their units up for sale after the proposed $500 million en-bloc sale to a joint venture led by Hotel Properties Ltd fell through in April. The 99-year leasehold property near Orchard saw a total of eight transactions from June 1 to 26 versus only one deal in May. There were four units sold at an average of $848 psf, from June 19 to 26, according to caveats...
Property consultancy Colliers International said the Singapore investment sales market experienced a surge of activity in the second quarter this year. Both the private and public sectors garnered investment sales transactions totalling S$1.35 billion from April to June, nearly four times higher than the previous quarter. Colliers said the renewed buzz in the investment market was supported mainly by...
One of Singapore’s leading property developers, Far East Organization, announced the launch of Silversea, its 383-unit mid-upper range condominium on Amber Road (on the former Amberville HUDC apartment site) at prices starting from $1,300 psf, with sea-facing units at $1,600 psf. The launch of Silversea is likely to bring the spotlight back on the Amber Road and Marine Parade neighbourhood, and stir...
Observers say more en-bloc sales are on the cards as a result of improved sentiment and rising demand for land. One market player, Credo Real Estate - a leader in the collective sales market - said at a seminar on Thursday that it expects five to 10 cases in the next few months, with more to follow in 2010. The seminar on en-bloc property sale was Credo's second in a week on the back of rising enquiries....
Speculators or upgraders behind June's record high THE last time figures were anywhere near as high was the peak of the property boom in Aug 2007. A surge in momentum in the stock and property market, already on an upward trend, last month saw private home sales by property developers hit a new high of 1,825 units. But is this an accelerating recovery based on real fundamentals, or a developing bubble...
Sales of uncompleted private homes continued to climb in June as improving sentiment in the market spurred homebuyers to snap up more units. 1,825 new private homes were sold last month – a 9.4 per cent rise from May. The strongest sales were seen at 8@Woodleigh, a condominium at Potong Pasir, where units were sold at a median price of S$804 per square foot. All 330 units at the property were snapped up...