2019 was a busy year for the Ministry of National Development, with several major announcements related to housing policies. Advertisement Analysts told TODAY that they expect 2020 to be a “quiet year” with few to no policy changes, especially with a General Election around the corner — it has to be called by April 2021. Mr Nicholas Mak, the head of research and consultancy at real estate...
Private home prices in Singapore rose for the third consecutive quarter in 2019, as the Urban Redevelopment Authority's (URA) flash estimate for the fourth quarter of 2019 shows that its overall price index for private homes rose 0.3 per cent over the prior quarter. For 2019 as a whole, prices are up 2.5 per cent, versus the 7.9 per cent rise seen in 2018, according to the URA flash data released on...
Singapore's property market has been nothing but resilient in 2019. In particular, the residential primary sales market stood out as demand strengthened in the second half of the year even as trade tensions between the United States and China escalated, and the 2019 economic outlook for Singapore dimmed. Developers sold 29 per cent more new homes in the five months between July and November 2019,...
Singapore's total real estate investment volume fell 31.8 per cent to S$22.83 billion as at Dec 13, the lowest volume since 2016, according to CBRE on Thursday. This was due to a slower collective sales market this year compared with a year ago. The previous year saw a few large collective sale sites being transacted, along with the award of two Government Land Sale (GLS) sites worth over a billion...
Singapore is unlikely to ease property cooling measures as it heads into a high-stakes election that could take place in the first half of next year. Although several developers, including second-largest City Developments, have called upon the government to loosen curbs to help fix an apartment glut, such a move could cost the ruling People's Action Party votes. Relaxing property curbs risks sending...
Prices of private homes in Singapore are expected to show modest growth over the next two years, riding on macro-prudential measures and stable mortgage performance, anchored by strong household finances. This is according to the latest findings from Fitch Ratings' Global Housing and Mortgage Outlook report. Overall, the rating agency expects nominal home price growth to remain at about 2 per cent in...
Sales of new private homes rose 23 per cent in November from the previous month, boosted by demand for projects launched during the last two years. Developers sold 1,147 homes, excluding executive condominiums, in November, compared with 931 homes in October, according to data compiled by the Urban Redevelopment Authority (URA). Year-on-year, however, sales were 4.5 per cent lower than the 1,201...
Singapore's private housing market is poised for modest price growth next year, amid a resilient leasing market. However, developers are expected to continue being challenged by the significant supply of unsold private housing units in the pipeline although, by some estimates, the oversupply could ease by the end of 2021. Data from the Urban Redevelopment Authority (URA) shows that as at the end of the...
Singapore's property glut is an unintended consequence of government measures to force developers to build and sell apartments quickly or face stiff penalties, according to City Developments Ltd. The city-state's second-biggest home builder has come out swinging against a rule that imposes a levy on companies if they don't complete construction and sell all units within a period of five years from...
Resale prices for non-landed private residential properties in Singapore dipped slightly in November after two straight months of increase. Sales volumes also declined, according to flash figures from real estate portal SRX Property on Tuesday. Condominium resale prices fell 0.1 per cent in November from the previous month, compared with a 0.8 per cent rise in October. Volumes, meanwhile, fell 7.2 per...
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