A bad month for home sales could be followed by upturn JANUARY was a ghastly month for the private home market. Sales hit a two-year low, as the prime downtown areas saw zero launches and just about half of all units launched that month ended up finding buyers, according to official statistics released yesterday. But even though the overall market has kicked off 2009 on a whimper, the mass-market segment...
singapore property
Private home sales further slowed in January, according to the latest Urban Redevelopment Authority (URA) figures. Some 107 deals were completed last month, compared to 131 in December. Property agents said this was the lowest level recorded in the last two years - even lower than last October when global stock markets slumped. Even so, developers placed more projects on the market, with 204 units...
Market watchers expect private home rentals in Singapore to slide a further 5 per cent in the first quarter of this year. That is partly due to falling numbers of expatriate staff based in the city state and lower housing budgets allocated to them. Singapore plays home to many foreigners working here. But the numbers could fall as firms cut costs to cope with the global recession. Real estate agency ERA...
Private home sales further slowed in January, according to the latest Urban Redevelopment Authority (URA) figures. Some 107 deals were completed last month, compared to 131 in December. Property agents said this is the lowest level recorded in the last two years - even lower than last October when global stock markets slumped. Even so, developers placed more projects on the market, with 204 units...
CDL offers Valentine's Day discount for Pasir Ris project AT A time when consumers think twice before forking out money for big-ticket items, a major property developer here is dangling outright discounts to lure buyers. And if customers do bite, the move may mark the start of a price war, say industry observers. Yesterday, Mainboard-listed City Developments Limited (CDL) fired the first salvo by...
Singapore property prices have been coming down in line with the economic slowdown. But at least one developer is going a step further to attract homebuyers. Yi Kai Development and Fission Group, the developers of the 293-unit condominium Alexis@Alexandra, are offering discounts of 28 per cent to pull in the crowds. And the move appears to be paying off as potential homebuyers flocked to the opening of...
DEVELOPERS of at least six mass-market private condos could release their projects in the next few months, riding on buying momentum generated lately by the Caspian condo near Jurong Lake - despite the recession. Property consultancy CB Richard Ellis (CBRE) tips Oasis @ Elias, The Gale on Flora Road in Upper Changi and Ascentia Sky on Alexandra Road among projects for possible launch in the next two...
The Singapore government will implement more measures to stabilise the property market if needed. The assurance came from National Development Minister Mah Bow Tan in Parliament on Friday. Mr Mah said the government will go also go ahead with multi-billion dollars worth of infrastructural projects. Marina Bay, Singapore's new premier business district, is taking shape. So far, the government has...
Analysts caution that banks here may not rush into home foreclosures THEY are flocking to the auction houses, hoping to find bargains. But each time the starting price is called out, there are audible sighs and shaking of heads. Still too high, say those who have been frequenting property auctions in recent weeks. Expectations are growing for some fire sales in the local property market, which is...
Analysts don't expect supply glut as developers likely to defer construction of housing projects WHEN long queues outside showflats disappeared overnight during the 1997 Asian financial crisis, the poor demand combined with a supply glut to exacerbate the slump in Singapore's property market. A decade on, the supply side of the equation may be less dire, say pundits. In an analysis of the "supply...