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Nomura has warned Singaporeans not to believe the hype about a pick-up in the property market.
In addressing some ‘half-truths’ about the Singapore property market, financial services group Nomura has warned the public not to believe the hype about a property pick-up in the city-state, reported CNBC.
This comes as sellers and buyers search for cues on whether the market is close to the bottom.
The month has been full of surprises, none more so than the developer land sale at Anchorvale Lane in Sengkang. It was expected to draw limited interest, given the depressed market and huge supply of ECs. Instead, it drew 16 bids, with a top bid of $241 million. What craziness is this?
On the surface, the property markets in Singapore and Hong Kong have much in common. The two Asian financial hubs have both moved to rein in runaway home prices in recent years as they sought to make housing more affordable.
Singapore home prices dropped by the most in more than seven years as developers offered discounts amid signals from the government that it won’t roll back property curbs initiated in 2009.
An index tracking private residential prices fell 1.5 percent in the three months ended Sept. 30 from the previous quarter, the biggest decline since June 2009. Prices fell for the 12th straight quarter, the longest streak of quarterly losses since prices were first published in 1975, according to preliminary data from the Urban Redevelopment Authority Monday.
SINGAPORE: The growth forecast for Singapore’s economy in 2016 has been narrowed to between 1 and 2 per cent, down from the initial range of between 1 and 3 per cent, the Ministry of Trade and Industry (MTI) said on Thursday (Aug 11).
The move to lower the upper limit of the 2016 GDP forecast took into account a slightly weakened global economy on the back of Britain's vote to exit the EU in June, which has "dampened and also added uncertainties" to global growth outlook, said Mr Loh Khum Yean, Permanent Secretary of MTI, at a media briefing.
SINGAPORE: For the third quarter of 2016, Singapore’s economy expanded by 0.6 per cent compared to the same period a year ago, advance estimates from the Ministry of Trade and Industry (MTI) showed on Friday (Oct 14).
That is much lower than a forecast of 1.7 per cent by private sector economists surveyed by the Monetary Authority of Singapore (MAS) last month, and marks a decrease from the previous quarter’s 2 per cent growth.
Nanshan Group has triggered the recent release of Central Boulevard white site on the government reserve list.
The Chinese group, which entered the Singapore property market just a few years ago, is now said to be looking for partners to form a consortium to bid for the 1.1-hectare site next to Asia Square Tower 1 when it is launched for public tender.
Singapore developers sold 769 private housing units in September including executive condominiums (ECs), down 3.7 percent from the 799 units sold in the previous month, revealed data published on Monday (17 October) by the Urban Redevelopment Authority (URA).
Year-on-year, sales rose about 18 percent compared to the 629 units sold in September 2015.
SINGAPORE - A new two-storey passenger terminal, which will be big enough to serve up to 700,000 passengers a year, will open at Seletar Airport at the end of 2018.
The total capacity is more than 26 times the number of passengers that the airport, which now caters mainly to private jets, handled last year.
When the new terminal opens, all turboprop traffic at Changi Airport, which now numbers up to 20 flights a day, will move to Seletar. About 400,000 passengers a year are expected to move as well.
Singapore has emerged as the top destination for Asian businesses expanding abroad, according to a UOB survey out yesterday.
The country's stable political and social climate is a strong draw in these challenging times as overseas expansion becomes more urgent amid slowing sales in domestic markets, the poll showed.
It is one of the Government's most demanding portfolios but after one year in the job, National Development Minister Lawrence Wong remains upbeat about the possibilities for shaping a future Singapore.
He told The Straits Times last week that the ministry has built on the work done in the preceding terms of government as well as expanded into new areas, including introducing Car-Free Sundays: "What we are hoping to achieve is a Singapore that's highly liveable, that's people-friendly and green, and provides a high-quality living environment wherever you are."
SINGAPORE - The Housing and Development Board (HDB) incurred a deficit of $1.639 billion in the financial year of 2015/2016, according to its annual report released on Thursday (Oct 13).
The deficit from home ownership alone - which comprises gross loss on the sale of flats, CPF housing grants disbursed and the expected loss for flats currently under development - amounted to $1.179 billion.
Compared to the previous financial year, home ownership deficit was down 32.7 per cent from $1.753 billion.
SINGAPORE - The Housing and Development Board (HDB) incurred a deficit of $1,639 million in the financial year of 2015/2016, according to its annual report released on Thursday (Oct 13).
The deficit from home ownership alone amounted to $1,179 million - which comprises sale of flats, CPF housing grants disbursed and the loss for flats currently under development.
Retirement Sum is the sum you set aside in your Retirement Account in order to get monthly payout from your eligible payout age, which is at 65 years old currently.
We’re already a few days into the start of a new year and the Singapore property market doesn’t show any signs of a quick recovery. Prices are inching down (though at a slower pace), and buyers are pretty much sitting on the sidelines waiting for either a further fall in prices or the removal of the ABSD (Additional Buyers Stamp Duty) before re-entering the market.
To add salt to the wound, a soft rental market and predictions of a financial downturn is further scaring off potential investors.
SINGAPORE — The total value of en bloc deals this year has crossed the S$1 billion mark, after the 175-unit Raintree Gardens in Potong Pasir was sold to an associate company of UOL Group for S$334.2 million, said marketing agent JLL on Thursday (Oct 6).
Reflecting the turnaround in the property market, the value of the successful deals so far this year — totalling slightly above S$1 billion — is the highest since 2012, when 19 deals were transacted for S$1.2 billion, showed figures by Urban Redevelopment Authority (URA) and OrangeTee. The total value of en bloc deals reached S$2 billion and S$3.3 billion in 2010 and 2011, respectively, in the midst of a property bull run.
The Housing and Development Board (HDB) has a residential site in Sumang Walk, an extension of Punggol Central, as part of Government Land Sales (GLS). This land parcel is bounded by Sumang Walk, Sumang Link and Punggol Way. It is under the Punggol Planning area and is located in the North-East Region of Singapore. This land site in Sumang Walk, is listed under the reserved list of sites and is allocated to be developed into an Executive Condo (EC). It has a land site area of 291,693 square feet land and is expected to house 820 residential apartments.
SINGAPORE — A private housing site in Fernvale Road has attracted strong interest from developers, with Sing Development and Wee Hur Development jointly submitting the top bid of S$287.1 million in a closely-fought tender, Urban Redevelopment Authority data showed on Tuesday (Sept 27).
The 99-year leasehold land parcel, released from the Confirmed List of the second half 2016 Government Land Sales (GLS) programme, sits on about 17,196 square metres (185,096 sq ft) of land. With a maximum permissible gross floor area of 51,588 square metres (555,288 sq ft), it can yield an estimated 600 homes.
1. In October 2015, MAS kept the Singapore dollar nominal effective exchange rate (S$NEER) policy band on a modest and gradual appreciation path, but reduced its rate of appreciation slightly. There was no change to the width of the policy band or the level at which it was centred. This policy stance was assessed to be supportive of economic growth into 2016, while ensuring price stability over the medium term.
Singapore's central bank surprised markets Thursday by easing its currency policy, as data showed the city-state's manufacturing sector continued to cast a pall on economic activity.
The Monetary Authority of Singapore (MAS), which uses exchange rates to guide policy instead of interest rates like most of its global peers, said that growth in 2016 was expected to be weaker than previously estimated and that inflation was now likely to tick higher at much slower pace than anticipated.
