Successful launches may struggle later
The recent decline in private home prices, according to the Urban Redevelopment Authority (URA)’s flash estimate, marks the third continuous quarter of price decrease.In a statement, JLL cites the continued softening as a reflection of the imbalance between supply and demand. This has led...
Continue Reading • 3 Jul 2014
Buyer's market in 2014: PropNex
The private residential market looks to be heading towards a more muted growth trajectory with weak demand, according to PropNex.Although liquidity remains flushed in the market, the multiple rounds of government measures have effectively tightened credit and the agency believes this should...
Continue Reading • 3 Jul 2014
Mortgagee sale by auction up in 1H
The number and proportion of properties put up for mortgagee sale in Singapore by auction has increased since 2012. Of the 256 properties placed under the hammer in 1H 2014, 64 were put up by mortgagees, up from the 24 posted during the market boom in 2012, according to Colliers...
Continue Reading • 2 Jul 2014
Property options along the purple line
Throughout the years, Clarke Quay has been the go-to place for beer lovers and party goers, thanks to its proximity to many popular watering holes and clubs.It also helps that this riverside partyville is near an MRT station on the North East MRT Line (NEL), ensuring easy access especially if you...
Continue Reading • 2 Jul 2014
ABSD refund for selected The Crest units
The Crest, a condominium project located along Prince Charles Crescent saw more than 30 units sold during its first weekend sales, said media reports.It is understood that its developers have granted options for these units. Average prices at the 99-year leasehold project reportedly stands at...
Continue Reading • 2 Jul 2014
More landed homes put up for auction
The relatively higher total quantum of landed properties, coupled with the implementation of the Total Debt Servicing Ratio (TDSR) framework, have made it increasingly difficult for landed homeowners to service their mortgage payments. This has in turn resulted in an increasing trend of landed...
Continue Reading • 2 Jul 2014
Court divides bungalow based on couple's contribution
Before buying a house, married couples should discuss how they will split the property in case they break up.The Court of Appeal said this in its ruling last week, regarding an ownership tussle over a $20 million good class bungalow (GCB) between Chan Yeun Lan and her husband, See Fong Mun.The...
Continue Reading • 2 Jul 2014
Private home prices up 0.8% in May
Prices of non-landed private homes in Singapore rose 0.8 percent in May, following a revised 1.0 percent decline in April, showed the Singapore Residential Price Index (SRPI) published by the National University of Singapore (NUS) yesterday.Home prices in the Central Region (excluding shoebox...
Continue Reading • 2 Jul 2014
Private homes prices dropped in Q2 2014
The private residential property index fell 2.3 points from 211.6 points in first quarter 2014 to 209.3 points in second quarter 2014, according to the Urban Redevelopment Authority (URA)’s flash estimate of the price index for private residential property released today.This is a decline...
Continue Reading • 2 Jul 2014
Analysts identify attractive GLS sites
The total supply of 10,220 housing units on H2 2014 Government Land Sales (GLS) Programme was the least number of new residential units made available since the H2 2009 GLS Programme, according Chia Siew Chuin, Director of Research and Advisory at Colliers International. Announced yesterday, the...
Continue Reading • 2 Jul 2014
Potong Pasir HUDC Estate privatised
The Potong Pasir Avenue 1 HUDC Estate will be converted into a strata-titled property under the Land Titles (Strata) Act as of today. The HUDC Estate comprises 175 units of flats at Blocks 110 to 112 at Potong Pasir Avenue 1. With the privatisation, the Potong Pasir Town Council will no longer be...
Continue Reading • 1 Jul 2014
Punggol to host new SAFRA club
A new $57 million waterfront SAFRA club in Punggol is expected come early 2016.Integrated with the Punggol Waterway Park, the new SAFRA Punggol located along Sentul Crescent will consist of five storeys and house a suite of facilities for enrichment, recreation, fitness and entertainment.In his...
Continue Reading • 27 Jun 2014
What will it take to roll back stamp duties?
The Total Debt Servicing Ratio (TDSR) framework will not be removed any time soon, according to the latest Singapore residential property report by OCBC Investment Research.“We believe that the TDSR framework is here to stay, while other measures, such as the Additional Buyer’s Stamp...
Continue Reading • 26 Jun 2014
Home prices to dip 10 to 20%: OCBC
OCBC sees residential prices will dip ten to 20 percent over 2014 to 2015.However, a price crash in excess of 20 percent is unlikely, even after accounting for the anticipated physical oversupply and interest rate uptrend ahead, according to a recent OCBC report. “One key argument against a...
Continue Reading • 26 Jun 2014
Developer selling off remaining condos at Vermont on Cairnhill
Bukit Sembawang Estates is looking to sell the remaining 30 units at Vermont on Cairnhill (pictured), a luxury condominium located near Orchard Road.Only two and three-bedroom apartments are still available for sale at the 158-unit freehold project which received TOP a month ago. Sizes range from...
Continue Reading • 26 Jun 2014
Three residential sites released
The two residential sites at Fernvale Road (Parcels A & B) and one Executive Condominium (EC) site at Choa Chu Kang Drive are launched for sale today under the Confirmed List. These three sites can yield about 1,700 residential units, and are offered on a 99-year lease. Parcels A &...
Continue Reading • 26 Jun 2014
Vacant luxury homes nearing 10% threshold
Vacancy rates in the prime districts are likely to increase as more projects are completed. According to the latest report by HSR Research, this will cause rents to come under pressure and prices will be capped. Based on quarterly data, the current average vacancy rates in the central region of...
Continue Reading • 25 Jun 2014
World Cup affecting Trilive sales
Trilive, Roxy-Pacific Holdings’ 222-unit condominium project in Kovan witnessed a slow start, with 30 of the 80 units released snapped up since sales began last Friday, said media reports.“The market is challenging. And potential buyers also seem to be distracted by the World...
Continue Reading • 25 Jun 2014
Mortgagee sale properties double in Q2
In the current quarter, more properties which were repossessed from borrowers were put up for auction, said media reports.According Colliers International, 42 foreclosed properties went under the hammer in Q2 2014, up from 22 in the first quarter and just six a year ago. This figure is also...
Continue Reading • 24 Jun 2014
Effects of TDSR so far
The impact of the Total Debt Servicing Ratio (TDSR) became quickly apparent when it was introduced in June 2013, with private home sales dropping 73.3 percent to 482 units in July 2013 from 1,806 units in June 2013, said media reports.Analysts noted suburban homes were most affected. Data...
Continue Reading • 24 Jun 2014