Tag Archives: Singapore Private residential Property Market

URA launches free private property app

Posted on 14 Apr 2011 | Comments Off on URA launches free private property app

HOME-BUYERS can now have easy access to property market information on the go from their iPhones and iPads.

The Urban Redevelopment Authority (URA) yesterday launched its new and free ‘Property Market Information, Singapore’ application as part of its efforts to enhance the transparency of the property market.

The new app allows interested parties to have easy access to transaction prices and rentals for different private housing projects by project name, street name, and district.

Users can also see the prices of all private residential units transacted in a particular area or within a certain radius of a showflat on a map.

‘This new service will empower home-buyers with accurate and comprehensive information on private housing projects and encourage them to look at all available market information before making a purchase decision,’ URA said.

‘Home-buyers and those looking to rent a private residential property can compare and consider carefully prices and rentals across different properties before making a commitment.’

The app is now available for download from Apple’s App Store. URA also plans to make the app available on Android phones in the fourth quarter of this year.

URA has also enhanced the property market information eServices on its website to provide more information and greater convenience to users, it said.

Among other things, key features of the enhanced eServices include a new map-based search function and viewing of data, and new functions for plotting graphs with property data.

Source : Business Times 14 Apr 11

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Residential market needs a rework

Posted on 24 Sep 2009 | Comments Off on Residential market needs a rework

Changing policies as market conditions change reflects pragmatic and adaptive policymaking which should be applauded

THE big picture driver of real estate wherever is the economy. A residential property buyer pays a certain amount for a particular location because he likes to work, live and play there. Should Singapore execute successfully on mega projects like the integrated resorts, improve her infrastructure, grow her economy and become an increasingly important global city, the trend for property prices is up.

Balancing act: Changing policies as market conditions change reflects pragmatic and adaptive policymaking which should be applauded. Moreover, well-timed pre-emptive moves deserve the most kudos. However, perhaps there is a case for adopting a framework where only supply measures change while demand measures remain unchanged

But how fast should prices rise? Is there excessive speculation in the Singapore private residential property market? These are tricky questions and governments everywhere, through their policies, play a major role in impacting the property market. Recently, the Singapore government, acting to pre-empt any speculative bubble from forming, unveiled both supply measures such as reinstating the confirmed list of land sales in the first half of 2010 and demand measures such as disallowing the interest-absorption plan and interest-only loans being offered to buyers of uncompleted private homes.

Changing policies as market conditions change reflects pragmatic and adaptive policymaking which should be applauded. Moreover, well-timed pre-emptive moves deserve the most kudos. However, perhaps there is a case for adopting a framework where only supply measures change while demand measures remain unchanged. This is not just about letting free market forces reign as adopting such a stand creates more certainty for developers and property buyers, both of whom are committing to sizeable investments. Whenever large sums of investment are being made, consistent regulations are called for and the residential property market should be no exception. For example, let’s be clear whether we want schemes like deferred payment or interest absorption all the time, not at all, or some of the time. Continue reading →

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