This is some blog description about this site
The Outside Central Region witnessed the highest price index increase of 2.6%.
Condo resale prices edged up 2.3% YoY in May, led by gains in the Outside Central Region (OCR) which rose 2.6% in the index, data from SRX Property revealed.
The Rest of Central Region (RCR) also recorded a 2.4% YoY price index increased, followed by the Core Central Region (CCR) with 1.4% YoY.
SALES activity in the Core Central Region (CCR) has slowed since the introduction of the cooling measures: from 3,452 transactions in 2013 to 1,775 in 2014 and 1,640 in 2015. Buyers are waiting for more price adjustments before taking the next step. CBRE believes this is a window of opportunity for purchasing a prime property.
Despite the overall decline in housing demand over the past few years, there is still a visible level of sales activity in the high-end segment. Buyers are aware that prices are now at more realistic levels as the CCR price index has declined by 4.1 per cent in 2014 and another 2.5 per cent in 2015.
Located on a busy stretch of Paterson Road just before the junction of Orchard Boulevard and Scotts Road, the 10-storey Paterson Linc is one of the most visible condominium blocks in prime District 9. At end-December, a two-bedroom unit on the seventh floor of the condo was sold for $1.65 million ($2,017 psf). The unit was purchased at the peak of the market in September 2007 for $2.16million ($2,638 psf).
The 35-unit freehold Paterson Linc is a redevelopment of the former Paterson Lodge. Unlike a typical en bloc sale, no money changed hands in this deal brokered by Knight Frank. Instead, in 2007, all 20 owners of Paterson Lodge unanimously agreed to sell the site to Green Aces Paterson Pte Ltd, a subsidiary of the former listed company Ace Dynamics (subsequently renamed Leeden Ltd and delisted in 2012).
With the stock market plunging, the economic outlook deteriorating and mounting speculation about another global financial crisis, it was no surprise that distressed sales in the prime districts continued to pop up in the first two weeks of January. Those that sustained the greatest losses were units purchased at the height of the last property boom, between the second half of 2007and early 2008, say property consultants.
The most notable was the sale of a mid-level unit at Turquoise in Sentosa Cove. The 2,153 sq ft, three-bedroom unit fetched $3.01 million ($1,400 psf), according to a caveat lodged on Jan 7. The previous owner paid $5.65 million ($2,623 psf) for it when the project was first launched in 2007, hence recognising a capital deterioration of 46.6%. The 91-unit, 99-year leasehold six-storey condominium project with views of the waterway was developed by Ho Bee Land and completed in 2010.
SINGAPORE: Private residential property prices fell 3.7 per cent for the whole of 2015, extending a 4 per cent decline in 2014, according to Urban Redevelopment Authority (URA) flash estimates released on Monday (Jan 4).
Prices fell 0.5 per cent in the fourth quarter of 2015, following a 1.3 per cent drop in the previous quarter, based on the private residential property index, which declined 0.7 points to 141.6 points in the fourth quarter.
SINGAPORE - Sales of new private residential units rose 83.4 per cent in April from March, boosted by two condominium launches, according to figures from the Urban Redevelopment Authority on Friday.
Developers sold 1,124 new homes in the month, which saw 1,344 units being launched. April's sales were the highest since May 2014 and compared to 613 units sold in March.
April's sales were also 47.5 per cent up from a year back, where 762 new private homes were sold and 606 units launched.
(Bloomberg) -- Blackstone Group LP’s Stephen Schwarzman, who correctly bet on a U.S. housing recovery, is now making a similar wager on Singapore’s luxury property market.
Singapore’s success in using administrative measures to cool its real estate market -- luxury prices have fallen about 20 percent in the past two years while Hong Kong’s have kept rising -- means the restrictions are likely to get lifted, the Blackstone chairman said last week. His firm has been investing in high-end developments over the past four months.
Property has become Blackstone’s biggest profit driver as record-low interest rates and a U.S. economic recovery pushed prices higher. With Singapore poised to hold elections in the next two years, Schwarzman’s call on the luxury segment is a timely one, property analysts said.
Recent cooling measures have clipped the wings of the once-soaring private property market in Singapore.
Tough measures such as a total debt servicing framework, which restricts a borrower’s monthly debt repayments to at most 60 per cent of his gross monthly income, has driven some buyers to aim for smaller homes with cheaper total prices.
Here's a look at how private home sales and prices have changed with each round of curbs.
Home prices in Singapore will probably extend declines as the government sticks with curbs, according to Keppel Land, signaling further losses for Asia’s second-most expensive housing market.
“Home prices are expected to continue to moderate,” chief executive Ang Wee Gee said at a results briefing on Wednesday. “Singapore is unlikely to relax property-cooling measures in the short term.”
The possibility of a surplus of private homes as well as a poor rental market are keeping home seekers from purchasing completed homes, particularly in the city centre, reported the media.
Notably, majority of the unsold units at completed developments in Singapore are located in upmarket districts 9, 10 and 11, showed data last week.
Singapore's famously efficient government faces a challenge that has stymied many a country before: safely guiding its toppish property market to a soft landing as interest rates rise.
Property prices in the city-state have surged over 60 percent since 2009, propelled by rock-bottom global interest rates and quantitative easing in developed economies, even as Singapore's government has enacted a series of cooling measures to prevent a bubble from forming.
June's headline 73 percent plunge in Singapore's new home sales may look worrying, but some analysts are pointing the blame at the World Cup.
"We didn't see many launches by developers, mainly because of the June school holidays and also there has been an impact from the World Cup on the property market," said Donald Han, managing director at property consultant Chestertons. "Even in the stock market, there was a softer period in terms of trading activity."
Prime residential property prices in Singapore saw the sharpest decline over the past year out of the 32 cities profiled in Knight Frank's latest Prime global Cities Index.
Prices fell 7.7 percent in the 12 months to June 14, the index showed, with much of the declines taking place recently as Singapore prices fell 6.4 percent in the three months to June 14.
RESALE prices and rents for private homes both tumbled to fresh lows last month as the property market slowdown deepened.
The declines underscore a downward trend that has been evident in the residential market since tougher cooling measures and home loan restrictions were rolled out last year, and consultants believe the gloom is unlikely to lift any time soon.
Singapore's central bank said it’s too early to ease property restrictions after prices in Asia's second-most expensive housing market fell for three straight quarters.
Real estate prices “remain at elevated levels,” Ravi Menon, managing director of the Monetary Authority of Singapore, said at the release of its annual report today. “It’s very important that we secure the gains that we’ve made in stabilizing the market and restoring financial prudence.”
Singapore’s property stocks fell for the first time in eight days as the central bank signaled its determination to extend a campaign that began in 2009 and included tighter mortgage rules and extra taxes. Residential values in the island-state dropped for a third quarter in the three months through June, the longest losing streak in five years.
The broad, leafy boulevards to the west of the Orchard Road shopping district have been relatively quiet compared to the bustling eastern end but change is in the wind.
The precinct - which stretches from Far East Shopping Centre to Tanglin Mall - is a fairly posh one, populated by wealthy expatriates in ageing luxury apartments and dotted with embassies. These upscale homes have seen limited sales activity in recent months given the downturn in the luxury market, note consultants, but the area could get a second wind if potential redevelopment plans take flight.
The catalyst could be the upcoming Orchard Boulevard MRT station on the Thomson Line, which is expected to be completed near Camden Medical Centre by the end of 2021.
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 live near the purple line.
According to media reports quoting a property expert, it is better to buy a unit in an outlying area along the NEL towards Punggol, as prices are generally cheaper. However, there are some exceptions.
"Many studies have shown the positive impact on prices for houses within proximity to new public transportation, most notably metro systems, tram, suburban railway and bus stations," according to the latest Knight Frank report on the impact of transport corridors and urban mass transit systems on house prices.
In Singapore, Stages 2 and 3 of the Downtown MRT Line have led to value enhancements of private non-landed residential developments around future stations.
Market players attribute slide in private market to competitive prices by developers, softening rentals
[SINGAPORE] Amid the current supply-demand imbalance, the gradual decline in private home prices is set to continue for the rest of the year after three quarters of decreases, say property consultants.
