Tag Archives: Singapore Property Market

New-home sales in April highest since 2009

Posted on 22 May 2012 | Comments Off on New-home sales in April highest since 2009

In April, developers sold 2,487 new private homes, the highest since the 2,772 units achieved in July 2009, according to PropertyGuru. This is the third consecutive month in which developers’ sales of private new homes exceeded 2,000 units, demonstrating a healthy pool of genuine homebuyers and long-term investors, observes Colliers International’s director of research and advisory, Chia Siew Chuin.

While sales volume in the Outside Central Region, or suburbs, remained healthy, with 1,514 units sold (60.9% of total sales), the growth in sales in April came from the Rest of Central Region, or city fringes, and Core Central Region, the prime districts.

The three best-selling projects last month were UOL Group’s Katong Regency, where all 244 units were sold within a week at a median price of $1,709 psf; MCL Land’s Ripple Bay in Pasir Ris, where 174 of 293 units launched last month were sold at a median price of $876 psf; and Frasers Centrepoint’s Palm Isles on Flora Drive, where 153 units were sold at a median price of $871 psf. Last month also saw the launch of CapitaLand’s and Mitsubishi Estate’s Sky Habitat at Bishan, where 131 of 180 units launched were sold at a median price of $1,583 psf.

In the prime districts, sales were mainly driven by projects launched previously: Rochelle at Newton by Sim Lian, where 19 units were sold at a median price of $1,434 psf; Scotts Tower, where eight units were sold at a median price of $3,554 psf; and Suites@Newton, where five units were sold at a median price of $2,051 psf.

Three out of six units launched at China Sonangol’s TwentyOne Angullia Park were sold at a median price of $3,958 psf.

So far, two major projects have been launched this month. At the preview of the 530-unit Flo Residences on May 12 and 13, 200 units were sold at an average price of $850 psf. United Engineers’ 862-unit 8 Riversuites is located near Boon Keng MRT station in Bendemeer also sold well over 200 units when it was previewed over the weekend of May 5 and 6.

Source: TheEdge – 2012 May 22

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Posted in Property Market / Real Estate, Property Transactions

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Govt curbs on industrial property?

Posted on 22 May 2012 | Comments Off on Govt curbs on industrial property?

The demand for and prices of property here have remained buoyant despite measures by the Government to cool the sector, sparking concerns that another round of measures may be on the cards.

This time around, however, analysts say the Government may focus on curbing demand for industrial properties.

Prices of industrial property increased 7.2 per cent in the first quarter, according to the Urban Redevelopment Authority’s Property Price Index. Part of the reason for this is a shift in buying sentiment to industrial properties from residential units.

Mr Nicholas Mak, head of research at SLP International, said: “… (Some) property agents who used to sell residential properties in a very aggressive manner are moving into the industrial property market. And they are using those same tactics of very aggressive marketing.”

This has led to calls by property experts for more enforcement on real estate agents to accurately market and advertise industrial premises.

Challenges in regulating the industrial property sector are present though and some analysts observe that it will not be easy to differentiate genuine buyers from speculative investors.

Any government attempt to further detail what a particular industrial space can be used for would also stifle businesses which have to be flexible in a volatile global economy.

Mr Tan Boon Leong, executive director for industrial services (Asia) at Colliers, said: “It is very difficult to impose the same type of cooling measures as we have witnessed in residential properties on the industrial market. This is because industrial activities are important and form the backbone of the economy. Personally, I think the current measures are adequate.”

One of the methods the authorities are using to soften prices is to increase industrial land supply.

Some experts also expect demand to decline naturally amid the current gloomy economy and for industrial rents to stabilise in the current quarter.

Source : Today – 2012 May 22

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Posted in Government, Office / Retail / Industrial

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