Tag Archives: Singapore Property Market

Sub-sales fall to lowest in two years

Posted on 24 Oct 2009 | Comments Off on Sub-sales fall to lowest in two years

st -sub sales downDESPITE prices soaring in the third quarter, speculative activity in the private housing market fell in the period to its lowest level in two years.

The number of sub-sale transactions – a closely watched measure of speculation – dropped by almost 20 per cent in the third quarter compared with the previous quarter, according to Urban Redevelopment Authority (URA) data yesterday.

As a proportion of total sales, sub-sales also fell to their lowest level since 2007. Only 9 per cent of home sales in the third quarter were sub-sales, compared to 13 per cent in the second quarter and over 16 per cent last year.

Sub-sales occur when a buyer purchases a new home and then quickly resells it before it is built. These transactions are the most widely used proxy of property speculation as the original buyer does not hold on to his unit long enough to stay in it or rent it out. Continue reading →

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Prices jump but rents fall

Posted on 24 Oct 2009 | Comments Off on Prices jump but rents fall

PRIVATE home prices shot up 15.8 per cent in the third quarter, confirming the spectacular jump in the housing market flagged by earlier estimates.

st - rents still falling
The massive surge in home prices – the largest in 28 years – has not been matched by a corresponding leap in rents. — ST PHOTO: DESMOND WEE

But the massive surge in home prices – the largest in 28 years – has not been matched by a corresponding leap in rents.

Rents of private homes continued their decline for the fifth quarter in a row, falling by 2.2 per cent in the third quarter, according to Urban Redevelopment Authority (URA) figures released yesterday.

Since the beginning of the year, private home rents have fallen 15.2 per cent. Prices are down only about 5 per cent for the year, after the third-quarter surge reversed four previous quarters of decline. Continue reading →

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