Singapore Property Market | Lush Dream Home

Tag Archives: Singapore Property Market

Singapore Property : More land for homes soon, so don’t rush

Posted on 8 Nov 2009 | Comments Off

Private developers will have a variety of sites to choose from by first half of 2010, says Mah

There is no need to rush to buy homes, now that a slew of land parcels will be released to private developers in the first half of next year.

That was the assurance given yesterday by National Development Minister Mah Bow Tan.

Similarly, he assured developers that they will have a variety of sites to choose from, with some up for grabs as early as January.

He was speaking to reporters a day after the Government announced that at least eight residential sites – and as many as 26 – will be offered to developers.

It made the move to allay fears of a shortage of homes in the private property market that may have sent prices surging to levels seen in the previous boom. Five of the 26 sites are for executive condominiums, to cater to the ’sandwiched group’, Mr Mah said.

These are people who do not qualify for new HDB flats because they earn more than the $8,000 monthly income cap, but who may find private property too expensive.

The 26 sites could yield 10,550 private homes, the most from half-yearly government land sales since the second half of 2001. Continue reading →

Comments Off on Singapore Property : More land for homes soon, so don’t rush

Posted in Property Market / Real Estate

Tagged Land Sales, New Homes Supply, Singapore Property, Singapore Property Market

Singapore Property : Bubble brewing?

Posted on 7 Nov 2009 | Comments Off

Caveat emptor: investing in the property market carries high risks, but also equally high rewards.

WITH the recent release of third-quarter real estate data, it may be timely to ask: Is there a real estate bubble, and if so, how bad is it? When the figures were unveiled in the last week of October, private-housing prices were out-of-sync with the rest of the market. Prices and rents were down for the other major sectors – office, retail and industrial. These trends were in line with current economic conditions.

Private-housing prices rebounded sharply by 15.8 per cent, easily the highest quarterly rise in more than 25 years. This is aggravated by the decline of housing rentals. Prices dropped by 2.2 per cent despite the third quarter traditionally being the best in terms of number of leases closed, as this is when many expatriates return from their holidays and sign new rental contracts.

Although the overall housing rental trend is down, rentals in some areas have improved and recorded increases in August and September. These increases could partly be due to the large number of expatriates signing new leases in the third quarter. Overseas managerial staff from the integrated resorts would also have signed on during this period.

Rents will go up for some developments due to competition. There are also signs that some tenants are moving to smaller units. This may also lead to rises in some unit types but declines for others.
Continue reading →