Singapore Property News This Week #141

Residential Developers more cautious in EC bidding Analysts say that developers are now showing more caution in bidding for executive condominium (EC) sites after the tender for a 99-year leasehold site at Canberra Drive. The highest bid out of six bidders was $226 million, or $350.04psfppr, from a joint venture between Verwood Holdings, a unit…

Are the Effects of 7 Rounds of Property Cooling Measures Wearing Off?

By Mr. Propwise It’s been almost five months since the announcement of the seventh round of property cooling measures by the government, which imposed steeper stamp duties and lower loan-to-valuations for mortgages. Have the measures had their intended effect to curb the rapid rise of property prices in Singapore? 2013Q1 URA PPI moderated, but prices…

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 #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…