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Daily Archives: 15 Oct 2009

Singapore September home sales 1,143 units, URA says

Posted on 15 Oct 2009 | Comments Off

Singapore’s private home sales fell in September from the previous month after a rebound in property prices and the introduction of government measures to prevent excessive price swings.

Sales declined to 1,143 in September from a revised 1,804 units in August, according to data on the Urban Redevelopment Authority’s Web site today. That’s still almost three times the number of homes sold in the same period a year earlier.

Singapore’s home sales climbed to more than 13,000 in the first three quarters of the year, compared with the 4,300 sold for the whole of 2008, calculations by Bloomberg show. The increase in demand has already lifted home prices, with an index of private residential property prices surging 16% last quarter.

The so-called take-up rate for these projects may exceed the historical high of 14,800 units in 2007, while home prices have started to increase “significantly” since June, National Development Minister Mah Bow Tan said last month. The government has said it will push more sites to be sold and bar interest- only mortgages for uncompleted projects.

About 1,413 new units were offered for sale last month. The Interlace, a project jointly developed by CapitaLand and Hotel Properties sold about 243 of the 360 units offered at a median price of $1,047 a square foot, according to the government agency.

Source : The Edge – 15 Oct 2009

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Posted in Property Market / Real Estate

Tagged Singapore Property, Singapore Property Market

Aug retail sales up 5.2%

Posted on 15 Oct 2009 | Comments Off

SINGAPORE’S retail sales rose by 5.2 per cent in August from July – the smallest decline in eight months, as the economic recovery spurred spending on cars and at department stores.

But the volume of sales is still 5.2 per cent lower than a year ago, according to the latest retail sales and catering trade index released by the Department of Statistics on Thursday. The median estimate of six economists surveyed by Bloomberg News was for an 8.9 per cent decline.

The catering trade also saw a 1 per cent rise in business from July, but declined by 2.8 per cent compared to August last year.

The data shows that motor vehicles and petrol service stations recorded higher sales of 13.2 per cent and 7.2 per cent in August, as did sales of apparel and footwear, watches and jewellery, supermarkets, furniture and household equipment, medical goods and toiletries, which recorded higher receipts of between 1.5 per cent and 10.9 per cent.

But sales of food and beverages, recreational goods, telecommunications apparatus and computers, provision and sundry shops and optical goods and books declined between 2 per cent and 5.8 per cent during the month.

Source : Straits Times – 15 Oct 2009