After another year of subdued home buying activity, property analysts warned that the Republic’s private residential property market may be in for tougher times in 2016 as the lacklustre economic environment is likely to depress sentiment further. Adding to the woes is the United States Federal Reserve’s decision to start normalising interest rates, which is expected to keep prospective buyers on...
singapore property
Resale prices of private homes dipped in November, according to the Singapore Residential Price Index (SRPI) estimates, which were released on Monday (Dec 28). The SRPI, compiled by the National University of Singapore's Institute of Real Estate Studies, showed overall prices decreased 0.6 per cent month-on-month in November, down from the 0.1 per cent growth in October. Prices of home in the central...
The property market could finally be showing signs of stabilising, two years after the Government introduced a slate of measures, including the Additional Buyer's Stamp Duty and the Total Debt Servicing Ratio. HDB resale prices have fallen about 10 per cent from their highs in 2013, while private resale prices have come off by about 8 per cent. After taking office, the new Minister for National...
Mortgagee listings in Singapore look set to hit a seven-year high by the end of 2015. According to property services firm Colliers International, 241 repossessed properties were put up for auction this year, up by almost 52 per cent from 159 in 2014. This is the highest since 2008. In a media release on Thursday (Dec 17), Colliers International said there were 555 owner listings in the property auction...
THIS year's tally of investment sales of property - big-ticket transactions of at least S$10 million - is set to be the lowest in six years, preliminary numbers from CBRE and Savills Singapore show. Still, the tally will not be as bad as that for 2009, when transactions dived during the Global Crisis. Savills' numbers reflect S$16.7 billion of deals so far this year (up to Dec 16), - about 11 per...
Developers sold a total of 759 private residential units in November, a 39 per cent uptick from 548 units sold in October and representing a 79 per cent jump from a year ago. The top selling project last month was MCC Land's The Poiz Residences in Potong Pasir that was launched during the last weekend of November and sold 277 units at a median price of S$1,440 per square foot (psf). This was followed...
Amid all the gloom and doom surrounding the private residential market, a more contrarian view that has emerged now points to green shoots of recovery in the second half of 2016. A continual downward drift in residential prices is almost a foregone conclusion in light of rising vacancies, impending interest-rate hikes and a slowing economy, consultants say. But some believe transactions could see a...
Sales of private homes by developers in Singapore rose 79 per cent in November compared with a year earlier, government data showed on Tuesday (Dec 15). The Urban Redevelopment Authority said developers sold 759 units last month, up from 423 units in November 2014. Sales rose 38.5 per cent from the 548 units sold in October 2015. Source : Channel NewsAsia – 15 Dec...
Resale prices of non-landed private homes in Core Central Region (CCR) and the city-fringe have been more resilient so far this year compared to those in the suburbs. Based on the November flash estimates released by SRX Property on Tuesday, its price index for resale non-landed private homes in CCR rose 1.6 per cent from December 2014 to November 2015. Over the same period, the index for Rest of...
Rental prices for non-landed private homes fell for the 10th straight month, by 1.1 per cent in November compared to October, according to flash estimates released by SRX Property on Wednesday (Dec 9). Units in the Core Central Region (CCR), Rest of Central Region (RCR) and Outside Central Region (OCR) saw decreases in rents of 0.7 per cent, 2 per cent and 0.7 per cent respectively. On a...