Daily Archives: 2 Oct 2009

Private home prices soar 15.9% in third quarter

Posted on 2 Oct 2009 | Comments Off on Private home prices soar 15.9% in third quarter

Half the losses since mid-2008 recovered; experts sound warning

By Joyce Teo, Property Correspondent
The URA flash data showed that prices of non-landed private homes on the city fringes rose the most – 19.1 per cent. Experts said this was on the back of a strong showing in new projects such as Trevista in Toa Payoh, Vista Residences in Jalan Datoh, and Ascentia Sky in Alexandra Road. — ST PHOTO: MUGILAN RAJASEGERAN

PRIVATE home prices surged an estimated 15.9 per cent last quarter – the sharpest quarterly rise in 28 years – and reversing four quarters of decline.

RELATED LINKS        DRAMATIC RECOVERY IN PRIVATE HOME PRICES

The initial property price estimates for the period ended Sept 30, released by the Government yesterday, offer new evidence of a private residential rebound despite an uncertain economy.

However, some market experts warn that this kind of price rises is not sustainable over the longer term, and note that buying interest has already slowed somewhat. Continue reading →

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HDB ramping up supply of flats

Posted on 2 Oct 2009 | Comments Off on HDB ramping up supply of flats

7,000 units will be released over the next three months

By Jessica Cheam
The Nautilus@Punggol (left) is a development of build-to-order HDB flats. Flat supply under the build-to-order scheme for the year will be ramped up to 9,000 from about 8,000 announced previously. About 5,000 units will be launched for sale in various areas, including Punggol. — PHOTO: HDB

THE Housing Board will unleash about 7,000 flats onto the market over the next three months in an aggressive step to tackle rising concerns over supply and affordability.

RELATED LINKS Upcoming Supply

The 7,000 homes exceed the 6,450 units released for first nine months of this year.

They also include 2,132 units in 24 estates across the island that have just been finished, or are near completion. They were launched yesterday in what was the Housing Board’s single largest sales exercise in recent times. Continue reading →

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