After waiting more than one year for an opportune time to purchase a condominium to house his family of three, Mr Amrit took the plunge in early 2015 after coming across a resale unit in his choice location with a “reasonable” price tag. He had always intended to upgrade to a private home, and when prices for Housing and Development Board (HDB) flats started falling in 2013, he decided to cash out...
singapore property
With developers facing potential charges for unsold private residential units that could amount to S$100 million, the Real Estate Developers’ Association of Singapore (REDAS) renewed its call on Thursday (Feb 18) for the Government to review the property cooling measures. “The real estate market is reeling from the compounding effects of an oversupply situation, rising vacancy rates, weak demand and...
Sales of private homes fell 16 per cent in January from the previous month as developers scaled back property launches. Excluding executive condominiums (ECs), developers sold 322 new units last month, down from the 384 units sold in December, data from the Urban Redevelopment Authority showed on Monday (Feb 15). Including ECs, 478 new units were sold last month, down from 508 units. The fall in...
Rental prices for Housing and Development Board (HDB) flats climbed slightly by 0.7 per cent from the previous month in December, while rents for private apartments went up 0.2 per cent, according to a local property index. Year-on-year, rental prices for HDB flats in January fell 3.1 per cent, and were down 8 per cent compared to its peak in August 2013, flash estimates from SRX Property, released on...
THE appetite for Singapore residential property among foreigners continues to diminish, depressed by higher purchase taxes and dim prospects for gains or returns. The number of private homes bought by non-resident foreigners (non-permanent residents) dropped 22 per cent to 895 units last year, from 1,148 units sold in 2014. And with no sign of any removal or reduction of the additional buyer's stamp...
Prices of condominiums sold on the resale market edged up 0.6 per cent in January, despite a fall in the number of units sold, according to a local property index. The resale volume of non-landed private residential units fell 20 per cent from the previous month, with an estimated 364 units resold in January, SRX Property said. On a year-on-year basis, resale volume was up 3.7 per cent. ERA’s Key...
The resale volume of non-landed private residential property in January dropped 20 per cent compared to December last year, according to the flash estimates provided by SRX property that were released today (Feb 11). An estimated 364 units were resold in January 2016 compared to 455 units in December 2015. Resale volume was down 82.2 per cent compared to the peak in April 2010. However, on a...
The Republic’s property measures averted a potential financial crisis, according to Home Affairs and Law Minister K Shanmugam. Speaking at a property agents’ conference on Wednesday (Feb 3), he said the Government had to step in after it saw a risk to the financial system. Mr Shanmugam said: "We can't legislate and stop people from buying a second or third property. "(But) … when we saw the...
Resale prices of private homes fell for the second month in a row in December, according to the Singapore Residential Price Index (SRPI) estimates, which were released on Thursday (Jan 28). The SRPI, compiled by the National University of Singapore's Institute of Real Estate Studies, showed overall prices decreased 0.4 per cent month-on-month in December, after falling 0.7 per cent in...
Prices of completed condominium units and apartments fell 0.4 per cent in December, following a 0.7 per cent decline in November last year. This was based on the latest flash estimates from the National University of Singapore (NUS) for its Singapore Residential Price Index (SRPI) series, reflective of transactions tracked within a basket of units as at Jan 21. The main drag came from homes in the...