Category Archives: Property Market / Real Estate

Sales of uncompleted private homes fall 36.6% in Sept

Posted on 15 Oct 2009 | Comments Off on Sales of uncompleted private homes fall 36.6% in Sept

Sales of uncompleted private homes took another dip in September, the second month of decline, after hitting a record high in July where 2,772 units were sold.

A total of 1,143 units were sold last month, a 36.6 percent fall from August.

Market watchers said this level of activity is more sustainable going forward.

5,719 units were sold in the third quarter alone, more than the whole of last year.

But activity has tapered since, and observers said it is unlikely to test the record sales of 2,772 units in July going forward.

Analysts said that is partly due to the government’s anti-speculative measures that have kept speculators away.

At the same time, some developers have also delayed new launches during the Lunar Seventh Month period, which is a traditionally low season for the property market. Continue reading →

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‘Shoebox’ units may wilt under URA’s gaze

Posted on 15 Oct 2009 | Comments Off on ‘Shoebox’ units may wilt under URA’s gaze

Recent applications for apartments below 300 sq ft understood to have been rejected

The new breed of ’shoebox’ private apartments may have caught the imagination, but don’t expect them to invade the housing landscape. Some may not even get the planning authority’s approval, going forward, if recent decisions are any guide.

Earlier this month, Singapore saw its smallest ever apartment unit – at 258 square feet – being put on the market at the Suites@Guillemard project. While this made headlines, BT understands that the Urban Redevelopment Authority (URA) recently turned down some applications involving apartments below 28 square metres (or about 300 sq ft).

Apart from the size, the layout of the proposed micro units may also have been a factor. For instance, if an apartment does not adequately provide for a kitchen, it may resemble a hotel room rather than a residential development.

When contacted, URA said that it does not stipulate that private housing units should be of a minimum size or that a development should have a certain mix of unit sizes. However, it said: ‘We have observed that some developers have been building smaller apartment units. Continue reading →

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