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Subscribe to this list via RSS Blog posts tagged in private home

20171214 condo

SINGAPORE — Projecting the population here to hit 6.3 million to 6.5 million by 2030, a research report released by DBS on Wednesday (May 16) forecasts new private homes to cost between S$2,300 and S$2,900 per square foot (psf) on average by then – sharply higher than the current S$1,500 psf.

This means a compound annual growth rate of 1.5 per cent to 3.2 per cent over the next 12 years as growth in homeowners' incomes "keep pace" with the rise in private-property prices. The projection means an average unit of private property will cost from S$1.9 million to S$2.5 million by 2030.

The report, by property analysts Derek Tan and Rachel Tan, also projected the average size of new private units to shrink to 840 sq ft by 2030, 20 per cent smaller than the 1,083 sq ft average last year.

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Price recovery gathers momentum in 1Q2018 Q1 2018, rising by 3.1% over 4Q2017, according to URA flash estimates. This marked the third straight quarter of price growth since the index bottomed in 2Q2017. It is also the strongest quarterly increase since the 5.2% quarter-on-quarter (q-o-q) increase in 2Q2010, says Tricia Song, Colliers International head of research for Singapore.
 
With the latest price increase, the URA private property price index is up 4.6% year-on-year, adds Song. As at end 1Q2018, private residential prices are just 7.5% below the peak in 3Q2013.
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Posted by on in Residential

Home renters today could switch to buying in 2016, Nomura said in a Monday report.

More Singaporeans seem to be opting to rent their private homes these days compared to before. For those who started renting their private homes in 2014, when the time comes to renew their contract in 2016, Nomura believes that there will be enough impetus for them to buy instead.

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Posted by on in Residential

The private residential market is set to sink deeper into the doldrums with buyers continuing to hold off purchases for as long as hard-hitting cooling measures stay firmly in place.

Analysts told The Straits Times private home prices could shed a further 2 per cent in the second quarter of the year from the first.

Both developers and home sellers are reducing their prices to attract buyers amid the onslaught of property cooling measures, said one. The overall market sentiment remains fairly weak with macroeconomic uncertainties looming.

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National University of Singapore's (NUS) price indices for completed non-landed private homes rose month on month in May, after straight declines for several months. Its latest flash estimate shows that the Overall Singapore Residential Price Index (SRPI) rose 0.8 per cent in May from the revised value for April - after slipping one per cent in April over the previous month.
The increase marked the first gain for the index after nine consecutive months of declines between August 2013 and April this year. May's flash estimate is down 6.3 per cent from the recent peak in July 2013. Year on year, the May index value is down 6 per cent.
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It is still too early to roll back property cooling measures, according to the Ministry of National Development (MND) yesterday.
It said that although home sales have decreased, prices have remained relatively stable.
The moves to rein in property prices included extra stamp duties to curb speculative buying and the total debt servicing ratio framework which was introduced a year ago.
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Veteran property developer Kwek Leng Beng fears Singapore could lose its edge as an investment destination unless the Government reviews its property cooling measures.
Mr Kwek, executive chairman of Hong Leong Group Singapore and City Developments, said foreigners were choosing to plough their investment dollars into countries like Britain, Australia and the US over Singapore, while Singaporeans have been investing abroad.
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The biggest collective redevelopment for public housing is in the offing for one of the country's oldest neighbourhoods in Queenstown.
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Time may be up for 3,480 flats in 31 blocks along Tanglin Halt Road and Commonwealth Drive, which are slated to be demolished under the Selective En bloc Redevelopment Scheme, or Sers.
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Residents, who found out only yesterday, will be offered new flats in the nearby Dawson estate, National Development Minister Khaw Boon Wan announced in a blog post yesterday.
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Posted by on in Residential
Two private residential sites in Sengkang and an executive condominium (EC) plot along Choa Chu Kang Drive, which together can yield about 1,700 homes, were launched for sale yesterday.
The three 99-year leasehold sites are the last on the confirmed list of the H1 2014 Government Land Sales programme to be released for tender.
Of the twin private residential sites in Fernvale Road in Sengkang, one is 16,604 square metres in size and the other, 17,414 sq m. Together, they can yield more than 1,100 units. Both their tenders close on Aug 7.
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Posted by on in Residential
A Wing Tai-led consortium is understood to have granted options for a tad over 30 units in The Crest condominium project along Prince Charles Crescent.
The sales were clinched at a preview over the weekend. The showflat was closed this week but will open again tomorrow for this weekend's sales.
So far one tower has been released, comprising around 130 units, say sources.
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After creating jobs closer to homes in the suburbs in recent years, the government is increasingly bringing private homes closer to jobs in the city.
In the confirmed list of the Government Land Sales (GLS) Programme for H2 this year, the proportion of private housing supply in the Central Region has risen to 33.2 per cent. This is up from 28.9 per cent in H1 2014 and 15.1 per cent in H2 2013. The recent low was 8.6 per cent in H1 2012.
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Posted by on in Uncategorized
About 80 per cent of the units in a condominium being developed in Kovan will be dual-key apartments, which suit multi-generational families - and owners aiming to avoid stamp duty.

All 94 of the three- and four-bedders at the 222-unit Trilive, and 88 of the 124 two-bedders, will feature two separate entrances.
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The upcoming Skywoods condo in Dairy Farm Heights is having a hard time shifting units as it battles the slowing real estate market and tough competition from other properties in the area.

Sales at the 99-year leasehold project being developed by TA Corporation, Hock Lian Seng Holdings, King Wan Corp and Far East Distillers have been lacklustre.
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Posted by on in Uncategorized
Buyers snapped up scores of units at the relaunch of The Panorama condominium in Ang Mo Kio yesterday after the developer slashed prices by 12 per cent.

The success of this relaunch, after a lacklustre initial launch in January, was down to getting the pricing right, analysts said.
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Posted by on in Uncategorized
The Housing and Urban Development Co (HUDC) estate at Hougang Avenue 2 has been privatised successfully, making it the 15th of 18 such once-public housing estates to do so.

The estate will be converted into a strata-titled property under the Land Titles (Strata) Act, said the Housing & Development Board in a statement yesterday.
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Property experts yesterday singled out four potentially popular areas for home buyers: Jurong, Woodlands, Holland Village and the upcoming Bidadari Estate.

They were taking part in the STProperty Rise Up To The Challenges In The Singapore Property Market forum, held at The Star Performing Arts Centre.
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Posted by on in Uncategorized
A remarkable stillness has settled over the private property market in the hip Tiong Bahru district in the past few months.

Resale deals there have slowed to a trickle as most buyers eyeing the area wait with bated breath for the upcoming launch of a new condominium project in Kim Tian Road.
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Resale prices of HDB flats dipped 0.2 per cent in April over March. The drop was driven by three, four and five-room HDB flats, which saw price weakening of 0.2 per cent, 0.8 per cent and 0.4 per cent respectively. However, prices of executive flats rose 1.2 per cent.

Overall, HDB resale flat prices for April were down 5 per cent year-on-year, show latest figures from the Singapore Real Estate Exchange (SRX).
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Wheelock Properties's condominium project in Ang Mo Kio, The Panorama, is gearing up for a re-launch this Sunday, with agents saying that new prices could be as much as 10 per cent lower than those at the initial launch.

The re-pricing comes on the heels of earlier price cutting by its rivals to hasten sales amid mounting pressure from upcoming condo launches.
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A commercial and residential site next to Potong Pasir MRT Station launched for sale on the confirmed list of the Government Land Sales Programme is expected to draw four to eight bids.

Property consultants' forecasts for the top bid varied from $650 to $900 per square foot of potential gross floor area. The tender for the site closes on Aug 19.
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