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Private home prices soar 15.9% in third quarter

Posted on 2 Oct 2009 | Comments Off

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.

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 →

Comments Off on Private home prices soar 15.9% in third quarter

Posted in Property Market / Real Estate

Tagged Ascentia Sky, Market Report, Singapore Property, Singapore Property Market, Singapore Property Prices, Trevista, Vista Residences

Q3 home prices up 16%

Posted on 2 Oct 2009 | Comments Off

Analysts expect sales of private homes to hit all-time highs in the city-state this year as global economic prospects improve

SINGAPORE’S private home prices rose by a whopping 15.9 per cent in the third quarter, reversing four straight quarters of decline.

Prices of non-landed private homes in the city fringes rose the most – by 19.1 per cent, according to flash estimates released by the Urban Redevelopment Authority on Thursday.

Rising in tendem were prices of Housing Board resale flats which rose 3.2 per cent in the third quarter.

The new city-fringe projects that sold well in the third quarter and contributed to the steep rise in the price index were Vista Residences, Parc Imperial, Ascentia Sky and Trevista, said CBRE Research.

Suburban home prices went up by 15.4 per cent while prices of city-centre homes rose 16.2 per cent.

These estimates are based on transaction prices given in caveats lodged during the first 10 weeks of the quarter, supplemented by information on the number of new units sold.

Source : Straits Times – 1 Oct 2009