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Property News10 Jan 2018

SRX Property: Condo resale prices rise 0.4% in December, 6.2% for all of 2017

RESALE prices of condominiums and private apartments continued to appreciate month-on-month, according to the latest flash estimates from real estate portal SRX Property on Tuesday.

NLP Volume ForDec17

The values of non-landed private homes last month rose 0.4 per cent from the previous month, at the same pace as November's revised rate, said SRX. It had earlier estimated a month-on-month price rise of 0.5 per cent in November.

The recent trend of island-wide increases was sustained: The core central region and outside the central region was up 0.3 per cent month-on-month, while prices in the rest of central region advanced 0.6 per cent.

For the full year, resale prices of condos and private apartments have moved up by 6.2 per cent, SRX figures show.

Not surprisingly, given the year-end holiday and festive season in December, the number of resales fell by 38.3 per cent to 895 units from 1,450 in November.

Year-on-year, the resale volume last month was 79.7 per cent higher compared to 498 units moved in December 2016.

They are off 56.3 per cent compared to the peak of 2,050 units resold in April 2010.

NLP Volume Peak

Government flash estimates released last week showed private home prices - for both new and resale properties, landed and non-landed - rose by 1 per cent last year, staging their first rebound since 2013.

Analysts said recent en bloc fever has likely pushed up private residential prices and transactions as cash-rich en bloc sellers look for replacement homes. The recovering economy and job market, plus the Government's tweak of its seller's stamp duty in March last year, also contributed to the steady upturn in the private property market.

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Property News 18 July
Heftier stamp duty a big setback for property sector: Redas chief

The imposition of heftier Additional Buyer's Stamp Duty on developers is "a big setback for the property market in Singapore", Real Estate Developers' Association of Singapore (Redas) president Augustine Tan said yesterday.

Referring to the Government's recent cooling measures, which included tightened Loan-To-Value (LTV) ratios, he said the changes have raised the cost of home ownership and cooled demand from investors and foreigners, while possibly eroding the confidence of developers, investors and buyers.

Property News 17 July
Private home sales slump adds to property gloom

These are testing times for property watchers given a sales dive last month, a likely spike this month as buyers rushed to beat the cooling measures, and hints of a slump as wary home-seekers weigh their options.

Last month's severe drop in transactions will draw the most attention: Developers sold just 654 private homes, 41.7 per cent lower than in May and 20.2 per cent below the same month last year.

Property News 16 July
New private home sales in June fall over 40% from May, down 20% year on year

SINGAPORE - Subdued sales in new residential launches in the month of June resulted in over 40 per cent fewer homes being sold by developers than a month ago.

Buyers took up 654 new private residential units in June, 41.7 per cent lower than a month ago and 20.2 per cent less than a year ago, according to according to preliminary data from the Urban Redevelopment Authority (URA) on Monday.

Property News 13 July
MacPherson freehold shophouses launched for sale
Commercial real estate services and investment company CBRE has launched the sale of four freehold shophouses in MacPherson Road, with would-be buyers invited to express interest.
The four properties comprise an intermediate two-storey shophouse, two adjoining two-storey shophouses and a corner two-storey shophouse.

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