Singapore Property News This Week #102

Residential March sees 0.9% increase in non-landed private home prices According to NUS’s overall Singapore Residential Price Index (SRPI), the prices of completed non-landed private homes excluding ECs saw a 0.9% rise in March, compared to a 1.2% fall in February. This was largely due to the Central Region sub-index (excluding small units), which saw…

Singapore Property News This Week #89

Residential NUS SPRI: Prices of completed condos slipped 0.3% in December In December, the NUS’s Singapore Residential Price Index (SRPI) series reflected a 1.3% fall in prices in the Central Region sub-index (excluding small units) in December, a 0.5% increase in the Non-Central Region,  and no change in prices of small units (up to 506…

Singapore Property News This Week #80

Residential The Topiary at Seletar Hills to open for e-application 700-unit The Topiary, an EC development along Fernvale Lane, at Seletar Hills has been opened for e-application. The development with a mix of two-bedroom, three-bedroom, dual-key, and single-storey penthouses is expected to fetch from $700-$720 psf. There are mainly three- and four- bedroom units, with…

Singapore Property News This Week #78

Residential Transaction volumes down for apartments worth $10m and more Only 33 luxury condos and apartments worth $10 million and above were sold in the first 10 months of 2012, compared to 57 units in the same period a year ago. The 33 units are worth a total of $449.6 million, 44% down from the…

Singapore Property News This Week #74

Residential Developer sales in September break 2010 records 2,621 private homes excluding ECs were sold in September, an 83.7% increase from August and the highest since July 2009’s 2,772 units, thus bringing the total units sold this year to 17,927 units, up 12.7% from 2011’s full-year record and 10% from 2010’s full-year record. This is…

Singapore Property News This Week #67

Residential Foreign buyers active in the property market again After the decline in foreign buyers following the ABSD, there are signs that foreign buyers are becoming active in the property market again, with the four largest nationalities in Q2 being Malaysians (6.3%), Indonesians (4.7%), mainland Chinese (4.4%) and Indian nationals (3.0%). The largest increase came…

Singapore Property News This Week #63

Residential Busy week for developers the last week Developers had been enjoying a busy week with sales coming in. Freehold 107-unit The Line@Tanjong Rhu has also sold 15 units at an average price of $2,100 psf. 54-storey 510-unit 99-year V on Shenton has sold almost 50 units in the last week, bringing the total transacted…

Singapore Property News This Week #58

Residential Prices for high-end homes likely to fall by 10-20% As the average price gap between the high-end and the mass market residential market narrows from 98% (from Q1 2004 to Q1 2012) to 82% in Q1 2012, the high-end home prices will likely fall a further 10-20% as a result of the ABSD. The…

Singapore Property News This Week #54

Residential Latest CBS figures reflects effective cooling measures 58.3% of the 15,410 Singaporeans/PRs granted private home mortgages (including refinancing cases) in Q1 2012 did not have any outstanding home loans either for a HDB flat or private residential property, compared to the 56.4% and 53% for the whole of 2011 and 2010 respectively. This may…

Singapore Property News This Week #50

Residential ABSD reimbursing may be a cause for concern To prevent the ABSD from affecting sales, developers have been offering discounts, rebates and even reimbursing the ABSD. This may potentially distort property and loan values and obscure transparency in the market especially since these discounts are given only after the transaction, meaning that the prices…