Owners still asking for sky-high prices while bank valuations fall A DOWNTURN is usually the time for bargain-hunters to snap up properties on the cheap. But for now at least, the reality could not be more different, as prospective buyers discover. Said Ms K Chan, a HDB dweller looking to upgrade to a condo: “I thought this would be a good time to pick up a good bargain. But owners are still asking for...
singapore property
Today reporters were offered discounts and freebies to sweeten the deal BARELY an hour into the showflat tour, the senior executive of a property consultancy firm, brokering a private condominium, decided it was time to reveal his trump card. “Don’t say I said it,” he said, almost whispering, as he pushed across the table to us a piece of paper with a blow-by-blow breakdown of his offer. The latest...
2008 saw a drastic fall in sales of luxury apartments in Singapore. Property consultancy CB Richard Ellis said 1,096 caveats were lodged in 2008 – a fifth of the sales volume in 2007. In 2007, the average launch price of luxury projects ranged from S$2,000 to S$4,000 per square foot. But by the end of 2008, the average launch price of such homes had fallen to a range of between S$2,000 and S$2,600 per...
Singapore's public housing market is expected to do well this year, compared to the slumping real estate markets across Asia. The economic slowdown means homebuyers are likely to opt for cheaper units from the Housing and Development Board (HDB) over more expensive housing like condominiums. On the private housing front, transaction volumes and prices have fallen at an increasing pace in recent months...
PROPERTY hunters put aside the gloomy economic outlook last weekend and turned out in force to check out - and even buy - new flats. At Nova 88 in Balestier - likely to be the only new official launch so far this year - about 500 visitors thronged the showflat, said developer Roxy Homes. About 20 per cent of Nova 88's units were sold, with prices ranging from $900 to $990 per sq ft. Some 20 per cent...
A 30-per-cent fall in rental market expected this year TENANTS for office space are beginning to enjoy more bargaining power as increased supply for such commercial property and a weakening economy drive rents lower. This is good news for business owners such as Mr Hu Yinghan. Mr Hu, who runs an events company Apesnap in Chinatown, will be asking for much lower rent when his lease runs out at the end of...
THE comparison rings with foreboding the last time private home prices took a bigger dive than this, it was exactly a decade ago, in the midst of the Asian financial crisis. In the last three months of 2008, the private resident property price index dropped 5.7 per cent, more than double the rate of decrease a quarter ago, according to flash estimates. The final tally due for unveiling in four weeks’...
Prices of private, non-landed residential properties in Singapore fell 5.7 per cent in the last quarter of 2008. The quarter-on-quarter drop in private home prices is more than double the 2.4 per cent decrease in the July-September quarter. Experts said the steep fall is fuelled by deteriorating sentiment. Market players are also matching prices to falling valuations. Nicholas Mak, consultancy and...
Location: Alexandra Road (District 3) Tenure: Freehold Year of Completion: 2012 Total Units: 293 Unit Types: 1 bedroom - 114 units (366 to 527 sqft) 1 + study - 43 units (474 to 764 sqft) 2 bedroom - 61 units (527 to 1,033 sqft) 2 + study - 17 units (657 to 1,055 sqft) Penthouse Types: 1 + study - 23 units (764 to 1,076 sqft) 2 bedroom - 9 units (657 to 969 sqft) 2 + study - 10 units (883 to 1,195...
Singapore's commercial and residential property sectors will remain attractive to investors in the medium to long term. Property watchers told Channel NewsAsia that is because of Singapore's status as an international financial hub. 2009 looks set to be a difficult year by all accounts, but market watchers said property investment fundamentals here remain strong. As global financial institutions cut...