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Singapore home sales reach new high

Posted on 15 May 2012 | Comments Off

Shoebox apartments in Singapore helped private home sales reach a new record during the first quarter.

Private home prices fell 0.1 per cent in the first quarter as government measures to cool the residential sector took effect.

Khaw Boon Wan, Minister for National Development told parliament the market will have to be watched closely

“The market is a lot cooler than it was say one year ago, although there are little pockets of hot activities particularly in the mass market with the emergence of shoebox units. We will continue to be very vigilant, closely monitoring the situation. Clearly, the market is (heading) towards a soft landing but we have not landed yet. So stay seated with your buckle on,” he said

Shoebox units are popular sellers in the suburbs. They are around 500 square feet and remain popular because of their relative low cost according to Reuters.

Source: PropertyReport 15 May 2012

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New private home sales up 3.9% on-month

Posted on 15 May 2012 | Comments Off

The number of new home sales in Singapore reached 2,487 in April, surpassing the previous month’s total of 2,393 units.

The Urban Redevelopment Authority (URA) said 1,514 homes were sold in the suburbs or Outside Central Region (OCR), while 867 new private units were sold in the city fringes and 106 were sold in the city.

On Tuesday, the government announced it will be releasing five residential sites for sale this month.

In a statement, URA said this could yield a total of 2,100 housing units, which will form part of some 14,000 residential units to be released under the Government Land Sales (GLS) Programme for the first half of 2012.

The site at Pheng Geck Avenue is launched for sale under the Confirmed List on Tuesday.

Four other residential sites at Tai Thong Crescent, Kim Tian Road, Prince Charles Crescent and Sengkang West Way are made available for application on the Reserve List on Tuesday.

Source : CNA – 15 May 2012