The property market in 2014 started with a series of bad news from the Urban Redevelopment Authority (URA) and the Housing and Development Board (HDB).
How bad are the numbers?
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The property market in 2014 started with a series of bad news from the Urban Redevelopment Authority (URA) and the Housing and Development Board (HDB).
How bad are the numbers?
Private property market prices in Singapore may be levelling off at a new support level after five years of cooling measures that have been very effective at stalling the market.
However, it appears the effectiveness of the measures has levelled off. Barring major catastrophes such as war, epidemics or financial crises, private property prices are expected to hold up, unless more resale supply is introduced or the Government removes the cooling measures.
SINGAPORE - Resale prices of non-landed private homes crept up by 0.4 per cent last month, compared with the previous month, latest data from the Singapore Real Estate Exchange (SRX) showed.
The month-on-month increase came about as non-landed private home sales in the core central region and rest of central region rose by 4.8 per cent and 1.5 per cent respectively, the SRX said on Monday.
But compared with the same period a year ago, the price index dropped 5 per cent.
SRX also said prices have fallen 5.3 per cent since the recent peak in January this year.
In the wake of property cooling measures developers have begun to offer higher percentage price discounts in an attempt to offload stock, making upgrading to condominium living a tempting option for HDB owners. Using 5-room HDB owners as a case study, we examine if now is the right time for HDB upgraders to cash out of their flats, and invest in the private condominium market. To measure the ease of upgrading by HDB owners, we looked at the upgrade premium, which is the difference between median HDB resale price per square feet (psf) and median condominium resale price psf of equivalent sizes, i.e. 100 - 120 sq m or 1,076 -1,292sqft for each quarter.