Rentals of shoebox units could fall by five to ten per cent in the coming years due to an expected increase in supply, said property analysts. Shoebox units are small apartments - they include one-bedroom or studio units and are often bought as investments. About 6,200 shoebox units will be completed in the next two years. Property consultant SLP International said this is a record number - compared...
singapore property
The Total Debt Servicing Ratio was introduced in late Jun 2013, but it was in the fourth quarter of the year that private home prices registered the first drop in almost two years. Since then, it has been on a downward trend and property watchers expect prices to continue falling in 2015 amid weakening demand and a large oncoming supply. Including executive condominiums, official estimates put the...
The number of homes put up for mortgagee sale at auctions surged seven-fold this year, property agency Colliers International said yesterday, warning that the worst had yet to come. Of 529 properties put up for auction this year, 159, or 30 per cent, were mortgagee sales, five times the 32 properties put up by lenders in 2013. Of the mortgagee sales, 123 or 77 per cent were for housing, more than...
Rental prices for both non-landed private units and Housing and Development Board (HDB) flats fell in the month of November, according to flash estimates released by the Singapore Real Estate Exchange (SRX). In a report issued on Wednesday (Dec 10), rentals for private homes dipped 0.8 per cent month-on-month in November - representing the 10th consecutive month of falling prices. Rents in all three...
The number of real estate transactions in Asia will grow substantially next year, according to Collier International's Asia Property Outlook 2015. This is because pent-up demand from investors will be gradually satisfied by a growing volume of new supply anticipated in 2015, said Mr Dennis Yeo, Interim Chief Executive Officer (Asia) of Colliers International. Besides new stock, there will also be...
The Republic fell out of an annual global ranking of top 30 markets for property sales volumes, as a slew of cooling measures dampened investor sentiment, said a report released yesterday. No figure was given for Singapore’s performance over the six-month period ended June this year in the Emerging Trends in Real Estate Asia Pacific 2015 report published by the Urban Land Institute and...
Resale prices for non-landed private residences slid 1.1 per cent on-month in November, pushing it beneath the support level established since July 2014, the Singapore Real Estate Report (SRX) stated on Tuesday (Dec 9). Based on year-on-year comparisons, the November prices dropped 3.4 per cent. Compared with the recent peak in January 2014, prices have declined 6.3 per cent, SRX said. Resale prices...
The Republic has been ranked ninth among cities in the region in terms of investment and development prospects for real estate next year. This is according to the latest Emerging Trends in Real Estate Asia Pacific 2015 - a study jointly released by the Urban Land Institute and PricewaterhouseCoopers (PwC). Singapore was ranked seventh a year ago. According to the report, the slip of two notches suggests...
Nineteen land sites were launched for sale on Thursday (Dec 4) under the first half of the Government Land Sales (GLS) Programme for 2015. The 19 sites - six Confirmed List and 13 Reserve List sites - can collectively yield up to 8,770 private residential units once developed, the lowest in five years. These will include 1,010 executive condominium (EC) units and 265,000 square metres of gross floor...
Resale prices of private homes rose slightly last month, according to Singapore Residential Price Index (SRPI) flash estimates, which were released on Friday (Nov 28). The SRPI, compiled by the National University of Singapore's Institute of Real Estate Studies, showed overall prices increased 0.3 per cent in October from the previous month. In September, prices fell 0.7 per cent from a month...