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Actually, there is some resilience in the demand for private property in Singapore among specific groups of buyers
SINGAPORE: Since the last property cooling measures rolled out in July 2018, market sentiments have remained subdued.
The new measures have led to higher acquisition costs for buyers and curbed their ability to take out larger loans to purchase private property, so from a theoretical standpoint, one would expect demand to decline together with prices.
SINGAPORE (EDGEPROP) - The collective sale momentum has recovered from the depths of Covid in the middle of last year. “While there were just a few developments where owners were exploring a collective sale last year, the number has picked up significantly this year,” says Jeremy Lake, Savills Singapore managing director of investment sales and capital markets.
Savills brokered the sale of Flynn Park, a condominium at Pasir Panjang that was sold en bloc to a joint venture between Hoi Hup Realty and Sunway Developments on Sept 10. The purchase price was $371 million, which was above the reserve price of $365 million when it was launched for tender towards the end of July. It was even higher than the reserve price of $363.8 million when it was last put up for collective sale in June 2018.
SINGAPORE - Records were smashed when bids were lodged yesterday for two residential sites under the Government Land Sales (GLS) programme.
Tenders for both 99-year leasehold plots - a Tampines executive condominium (EC) parcel and one in Lentor Central - closed last night with nine bids lodged for each, as developers rushed to replenish land banks as unsold private housing inventory nears a four-year low of 16,929 units.
THE Urban Redevelopment Authority (URA) and the Housing & Development Board (HDB) on Thursday launched two sites at Lentor Central and Tampines Street 62 (Parcel A) for tender.
Both sites, which have a lease period of 99 years, fall under the confirmed list in the first half 2021 government land sales (GLS) programme. Together, they can yield about 1,195 residential units, URA and HDB said in a joint press statement.
These can yield up to 6,670 private residential units and 101,500 sqm of commercial space.
The government has released its Government Land Sales (GLS) Programme for H2, comprising three confirmed list sites and nine reserve list sites, according to an announcement from the Ministry of National Development (MND).
These sites are said to yield about 6,670 private residential units, 101,500 sqm gross floor area (GFA) of commercial space, and 1,070 hotel rooms.
SINGAPORE — With prices trending downwards since 2013, the market for Housing and Development Board (HDB) resale flats may have turned the tide as prices have now increased at their fastest pace in eight years.
This is according to the HDB’s public housing data for the third quarter of 2020 released on Friday (Oct 23), which also showed that transaction volumes have reached a 10-year high.Analysts expect this upward trend to continue with prices increasing between 1.5 and 3.5 per cent for 2020.
Based on HDB’s data, resale prices went up 1.5 per cent compared to the previous quarter — the highest growth rate since the fourth quarter of 2012. The resale price index is now at 133.9, back to levels seen in two quarters of 2017.
SINGAPORE - While Housing Board (HDB) resale volume dipped in October compared to the previous month, prices continued to rise, indicating that demand remained relatively robust amid the Covid-19 pandemic.
In addition, 13 HDB resale flats were sold for more than $1 million, flash estimates from real estate portal SRX showed on Thursday (Nov 5). It is the highest-ever number of such transactions for a single month.
Homebuyers are among thousands of locals buying up property in Singapore and taking a share of the business not seen in a decade as travel curbs thwart international investors, undeterred by the economic downturn and growing unemployment.
This wide-based purchasing binge, which has driven prices and sales to multi-year peaks, has several comparisons with a bubble in the housing sector seen when Singapore emerged from the global financial crisis in late 2009, which prompted multiple rounds of cooling steps to be introduced by the government to cap rising prices.
New home sales in September hit 1,329 units, a 5.6% increase from August’s 1,258. Sales also continued to increase for the fifth consecutive month since the circuit breaker measures were implemented. This is also the highest monthly sales since July 2018, when 1,724 units were shifted.
Despite still being in the midst of a recession, new home sales showed little signs of slowing down. In September, developers sold 1,329 new private homes (excluding executive condominiums (ECs)), up 5.6% from 1,258 units in August, according to Urban Redevelopment Authority (URA) data.
This marks the fifth straight month-on-month (m-o-m) increase since the circuit breaker measures were implemented in April. This is also the highest monthly sales since July 2018, when 1,724 units were shifted.
The rebound in transactions was not only evident in the new sale market but also in the resale market as well. Total resales transactions increased by more than three times to 2,480 units in Q3 2020 from the previous quarter’s 758 units.
Despite experiencing the worst recession due to the COVID-19 pandemic, Singapore’s non-landed residential market witnessed a “gravity-defying” rebound in the third quarter of 2020, revealed a Knight Frank report.
In fact, transaction volumes of non-landed private homes, excluding Executive Condominiums (ECs), more than doubled to 5,895 units.
In total, the number of landed properties transacted in the first nine months of 2020 was 1,142, a slight increase from the 1,118 transactions registered over the same period last year.
The number of landed homes transacted in the third quarter of 2020 rose to 544 units, up by more than 50% from 212 units in the previous quarter, reported The Business Times (BT) citing OrangeTee & Tie.
This is the strongest quarter for landed homes since Q2 2018 when 755 landed housing units were transacted.
A town as big as Bishan will be built in Tengah.
MND Minister Lawrence Wong: Surrounded by greenery, Tengah will be planned as a “Forest Town“.
The Forest Town will be integrated with nature as well as the nearby Jurong Innovation District.
For many Singaporeans, especially males who grew up in the 80s or earlier, the very mention of “Tengah” conjures up nothing but military skewed images…Tengah Air Base and Army Supply formations are military units that are synonymous with Tengah. And not forgetting the relatively vast vegetation landscape that many a NS soldier would have stepped on.
The previous quarter also saw the highest sales volumes since Q2 2013.
Developer sales continue to defy the economic downturn as pent-up demand fueled the third straight month of sales over 1,000 units in September.
A total of 1,329 new private homes (excluding executive condos) were sold during the past month, up from 5.6% MoM from the 1,258 units moved in August, according to the data released by the Urban Redevelopment Authority.
SINGAPORE - The private home market continues to defy gravity amid the pandemic, with last month’s sales up for a fifth straight month to hit levels not seen for more than two years.
The robust numbers – 1,329 units sold, 5.6 per cent more than the 1,258 in August – came despite a fall in the number of new homes launched last month.
SINGAPORE, 17 August 2020 – Amid the pandemic and economic downturn, developers’ sales continued to outperform expectations in July, booking the highest monthly sales in eight months. Latest data from the Urban Redevelopment Authority (URA) showed that 1,080 new private homes (excluding Executive Condos) were sold in July 2020 – up by 8.2% from the 998 units transacted in the previous month and 8.4% lower than 1,179 units sold in July 2019.
July’s new home sales of 1,080 units were also the highest monthly tally since 1,165 units were shifted in November 2019. In total, 4,942 new private homes were sold in the first seven months of 2020, representing an 8% year-on-year (YOY) decline from 5,367 units transacted in the corresponding period of 2019.
Property prices are expected to remain soft in the coming months due to escalating tensions and growing economic uncertainties.
The future of Singapore’s property market remains uncertain and a full recovery may take a while, given the evolving COVID-19 pandemic and the impending macroeconomic crisis, according to OrangeTee & Tie.
As the coronavirus wreaked havoc in economies across the world, the International Monetary Fund (IMF) said it could trigger a global recession in 2020 which is expected to be worse than the negative 1.68 percent during 2009 global financial crisis. It is a timely reminder of the importance of diversifying one’s investments to prevent losses: A varied portfolio is crucial for stability, especially when markets become increasingly volatile. Yet another school of thought offered by BlackRock is that even investors with ready capital to deploy should focus on preserving values and incomes.
SINGAPORE: The impact of the coronavirus pandemic has rippled across the globe and disrupted most forms of business activity. Quarantines and movement restrictions imposed in many countries have halted trade, tourism and retail.
Real estate hasn’t been spared either. Singapore’s implementation of circuit breaker measures in April has impacted the private residential property market, as show flats shuttered and house viewings were discontinued.
Strict safe distancing measures have also disrupted the home purchase process for potential buyers, who have to rely on virtual house tours to assess properties.
