Singapore Property Price Index PPI - Property Launches & Investments

Singapore remains world's 2nd priciest private property market

Posted by Property Launch Invest on Friday, 12 April 2019 in Property News

SINGAPORE remains the world's second-most expensive housing market after Hong Kong, according to an annual CBRE report which compares private residential property markets across 35 cities. But average price growth was significantly slower, at just 1.1 per cent.

Hong Kong kept its top position with an average residential property costing US$1.235 million or US$2,091 per square foot (psf). Singapore came a distant second at US$874,372 or US$1,063 psf, with Shanghai third at US$872,555 or US$714 psf. CBRE noted that these top three cities have all introduced cooling measures to keep prices under control.

Singapore Offices Expensive as New Towers Vie for Tenants

Posted by Property Launch Invest on Friday, 19 June 2015 in Property News

Singapore’s office market is expensive compared with Australia and Japan because of a space glut and slowing rental growth, according to Union Investment, Germany’s largest fund manager.

Office rents peaked in the first quarter as the city-state’s economic growth shows signs of tapering, according to Cushman & Wakefield Inc. Grade A office rents in the central business district could slide 14 percent over the next two years to S$9.12 per square foot per month from S$10.60 per square foot, Cushman estimates.

URA- Release of 1st Quarter 2015 real estate statistics

Posted by Property Launch Invest on Sunday, 26 April 2015 in Property News

The Urban Redevelopment Authority (URA) released today the real estate statistics for 1st Quarter 20151.

PRIVATE RESIDENTIAL PROPERTIES

Private residential market at a glance (excluding ECs):

Cooling property prices provide relief for Singapore banks

Posted by Property Launch Invest on Wednesday, 15 October 2014 in Property News

Falling property prices in Singapore - one the world's most expensive housing markets - have provided some much needed relief for the nation's banking sector, analysts told CNBC.

"The gradual decline in property prices is credit positive for Singapore banks because it relieves pressure on bank asset quality," Moody's analysts said in a note published Monday.

"Further price increases would have increased the risk of a real estate price bubble bursting," they added.

How long will the Singapore private property market malaise last?

Posted by Property Launch Invest on Tuesday, 14 October 2014 in Property News

For those who missed the recent URA private property price index flash estimates, the index has dropped again in 2014Q3 . For many casual observers, the drop in the private property market has stopped becoming news as many have gotten used to the “new normal” – a lacklustre property market.

By now, the question on stakeholders’ minds has changed from “when the property market will peak” to “how long the Singapore property market malaise will last”. That is the million-dollar question that many consultants are still trying to figure out. To give readers some sense on how bad past markets have gotten, here are some data on how the property market had performed in the past few slowdowns.

Why is it too soon to relax Singapore property measures

Posted by Property Launch Invest on Monday, 15 September 2014 in Property News

Prices have to fall by 10% first.

The sales drought will continue for Singapore’s residential developers, as the country’s stringent property cooling measures aren’t expected to ease anytime soon.

According to Barclays, the relaxation of property cooling measures would be premature, despite the continuous softening in property prices, even though year-to-date developer sales have declined 54% y/y.

Singapore Home Prices Set to Extend Declines, Keppel Land Says

Posted by Property Launch Invest on Wednesday, 13 August 2014 in Property News

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.”

Private home prices slipped 1.3% in 1Q 2014

Posted by Property Launch Invest on Sunday, 27 April 2014 in Property News

Price decline observed across all segments.

According to the Urban Redevelopment Authority, prices of private residential properties decreased by 1.3% in 1st Quarter 2014, following the 0.9% decline in the previous quarter.

Prices of non-landed properties in the Core Central Region (CCR) declined by 1.1%, following the 2.1% decrease in the previous quarter.

In Outside Central Region (OCR), prices declined by 0.1%, following the 1.0% decline in the previous quarter. Prices in the Rest of Central Region (RCR) declined 3.3%, after registering a marginal 0.4% increase in the previous quarter (see Annexes A-1, A-2 & A-62following a decrease of 1.0% in the previous quarter.

Rentals of private residential properties decreased by 0.7% in 1st Quarter 2014, greater than the 0.5% decline in 4th Quarter 2013. Prices of landed properties declined 0.7%,

Source: Singapore Business Review 25th April 2014

$15b of iconic projects on the horizon

Posted by Property Launch Invest on Thursday, 27 March 2014 in Property News

A new wave of iconic integrated mixed- development projects coming up, with a total development value of more than $15 billion, are set to enhance Singapore's luxury residential property landscape.

Among them will be some firsts such as the collaborations between the two sovereign wealth funds Temasek Holdings and Khazanah Nasional for the Marina One and DUO developments.

Condos latch on to Cluny Park address

Posted by Property Launch Invest on Thursday, 27 March 2014 in Property News

The exclusive pocket of Bukit Timah that lies west of the Botanic Gardens has been quiet in recent years but that could change with the arrival of new homes.

Dotted with pricey low-rise housing and with the delights of the gardens on their doorstep, the Cluny Park estate has long been the preserve of old money and very wealthy professionals.

Consultants said that although investment yields may be lower, well heeled investors would likely still be keen on the area.

The spotlight is back on the area, thanks to the upcoming Cluny Park Residences, one of the few condominiums in the mostly landed housing district.

The 52-unit freehold project will officially launch today, though it already began sales in August last year.

Its developer Tuan Sing said earlier this week that it had received "commitments" for 20 units so far and the price range at its official launch would hover close to $3,000 per sq ft (psf).

The project sold 12 units in August last year at prices ranging from $2,594 to $3,422 psf, according to Urban Redevelopment Authority (URA) data. The median price that month was $3,121 psf.

There are 70 bungalows including good class bungalows and six semi-detached houses with a "Cluny" address, including Cluny Road, Cluny Hill and Cluny Park.

Projects close to Cluny Park Road include The Siena, 10 Shelford and Dukes Residence. The Siena and 10 Shelford are being built while Dukes Residence was completed in 2011.

The Siena, a 54-unit leasehold development by Far East Organization in Tan Kim Cheng Road, is on a 99-year lease. The most recent sale was $2,335 psf for a new 850 sq ft unit in October last year, according to URA data.

At the freehold 10 Shelford, on Shelford Road north of Dunearn Road, the most recent transaction was $1,874 for a new 431 sq ft shoebox unit in August 2011. The 69-unit project is expected to be completed this year.

The 42-unit Dukes Residence is freehold and prices were $1,576 psf on average over the past six months. The most recent resale transaction there was $1,576 psf for a 1,701 sq ft unit last October.

Consultants said one downside is that the weakness in the high- end market has weighed down rentals in the area.

Source: Straits Times 8th March 2014

More borrowers opt for fixed rate home loans

Posted by Property Launch Invest on Saturday, 11 January 2014 in Property News

Fearing that interest rates will soon start to rise, more Singapore borrowers are turning to fixed rate home loans.

The prospect of higher repayments has become far more pressing in recent weeks with the United States Federal Reserve's decision to begin cutting back its stimulus spending.

That paves the way for US interest rates to eventually rise, which will inevitably mean they will rise here too, as Singapore's interest rates closely follow those in the US.

A rise in short-term interest rates would hurt home loan borrowers as many are on floating rate packages that are linked to these rates.

Singapore Home Sales Fell 52% in September Following Loan Curbs

Posted by Property Launch Invest on Tuesday, 03 December 2013 in Property News

Singapore’s home sales fell 52 percent in September from a year ago, signaling that the government’s efforts to cool its property market are working.

Home sales fell to 1,246 units last month compared with 2,621 in September 2012, according to data from the Urban Redevelopment Authority released today. From the previous month, sales increased 65 percent from a revised 756 units sold in August as developers marketed more projects, the data showed.

Record home prices amid low interest rates raised concerns of a housing bubble and prompted the government to widen a campaign that started in 2009 to curb speculation in Asia’s second-most expensive housing market. Singapore unveiled new rules in June governing how financial institutions grant property loans to individuals, in addition to previous curbs including new taxes and higher down-payments.

Singapore Home Sales Fell 48% in October After Loan Curbs

Posted by Property Launch Invest on Tuesday, 03 December 2013 in Property News

Home sales have been declining in the past four months compared with figures last year after the government imposed new rules in June governing how financial institutions grant property loans to individuals. Record home prices amid low interest rates raised concerns of a housing bubble and prompted the city-state to introduce new taxes and higher minimum down-payments since 2009 to curb speculation in Asia’s second-most expensive housing market.

“Developers have been a bit apprehensive about the sentiment so they seem to have marketed fewer projects,” said Nicholas Mak, an executive director at SLP International Property Consultants in Singapore. Home buying has “stabilized”, he said, citing the fact that 90 percent of the homes marketed were sold last month, based on today’s data.

Commercial property trends and outlook

Posted by Property Launch Invest on Tuesday, 03 December 2013 in Property News

The Singapore office rental market was stable in Q2 2013, since Grade A office rents only fell by an average of 0.4 percent quarter-on-quarter. This was the smallest quarterly decline since it fell consecutive quarters from Q4 2011.

Thus, there are hints that office rents are on the way to recovery by 2014. In fact, rents could potentially stabilise across the board from H2 2013, after which limited vacant space will allow landlords to renew leases or make new offers at higher rates since there might be fewer competing choices elsewhere. The economy in the U.S. might improve and if that leads to a worldwide improvement in economic conditions, MNCs may be in a better position to plan for expansions into key markets in Asia.

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