Tag Archives: Singapore Property Market

Resale private home prices on the uptrend

Posted on 30 May 2012 | Comments Off on Resale private home prices on the uptrend

Flash estimates from the Singapore Residential Price Index (SRPI) showed that resale private home prices is on an upward trend, climbing 0.8 per cent in April after rising 0.4 per cent in March, reported Channel News Asia.

Meanwhile, prices of resale units in the central area were up 1.6 per cent in April.

In comparison, it rose just 0.1 per cent in March.

Resale home prices in the non-central region, however, remain unchanged.

Property analysts said the increase in prices could possibly be due to a result of higher transaction volume in the secondary market in March and April.

“The secondary market volume is picking up, especially after the run-up in new home sales in the first quarter. Primary market prices have gone up and some buyers may think that they can get better value in the secondary market,” Donald Han, special advisor at HSR, told Channel News Asia.

Meanwhile, resale prices of small apartments dipped 1.2 per cent, after increasing 2.7 per cent in March.

The index was published by the Institute of Real Estate Studies at the National University of Singapore (NUS).

Source: PropertyReport – 2012 May 30

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More prime housing sites in pipeline

Posted on 30 May 2012 | Comments Off on More prime housing sites in pipeline

Following the announcement that construction works on Bidadari new town will begin by year-end, developers are eyeing new opportunities at other prime residential sites in strategic locations.

According to analysts, thousands of homes are in the pipeline over the next few years, as prime sites not far from the city will be launched, including the Dempsey area and former Bukit Timah Turf Club, as well as Old School at Mount Sophia, Tanglin Village and Caldecott Hill.

Meanwhile, the government has announced that infrastructure works at Bidadari, which includes roads and sewers, will start at the end of the year.

Located near Potong Pasir, Bidadari is expected to yield around 12,000 public and private homes in the next ten years.

According to a spokesman for the Ministry of National Development (MND), the first Build-to-Order (BTO) flats may be launched as early as 2015, depending on demand. As a result, public flats could be completed by around 2018, noted consultants.

The decision to develop Bidadari is part of a twin approach that aims to address the strong housing demand and intensively use land in existing estates.

Consultants are optimistic that interest for homes in Bidadari will be strong, given its proximity to the city centre. In fact, Bidadari is compared to Bishan, which was also a former cemetery but has now become one of the most popular HDB estates.

In addition, Bidadari is close to two MRT stations, Bartley on the Circle Line and Woodleigh on the North-east Line.

Source : PropertyGuru – 30 May 2012

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