Tag Archives: Singapore Property Prices

Vacancy rate a key statistic

Posted on 23 Aug 2009 | Comments Off on Vacancy rate a key statistic

Residential property buyers should zoom in on this in the URA quarterly release

Every quarter, the Urban Redevelopment Authority (URA) releases data on supply and demand in the residential property market.

In this year’s second-quarter release, there were 16 annexes filled with many charts, ratios and other statistics. Multiply this by the historical releases, and the amount of data could be mind-boggling.

So, what should one focus on in this buffet of figures? For me, it is the vacancy rate. Residential property buyers should zoom in on this key statistic. It can be found in Annex E-1 of the release.

The vacancy rate is the number of vacant units divided by the total number of available units in Singapore. Previously, the vacancy rate was also Continue reading →

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Ten Gallop Green units sold for about $1,400 psf

Posted on 21 Aug 2009 | Comments Off on Ten Gallop Green units sold for about $1,400 psf

Singapore-listed conglomerate Straits Trading Co quietly released 10 units at its Gallop Green project for sale last month. The 53-unit, low-rise development on Wollerton Park, off Holland Road, comprises a mix of 13 townhouses and 40 apartments. Since completion of the freehold Gallop Green in 2002, all units had been held by the developer for investment and were fully leased.

The apartments are large four bedroom units and measure from just under 3,000 sq ft to 4,032 sq ft. Meanwhile, the townhouses are also sizeable, ranging from 4,075 to 4,952 sq ft.

All the 10 apartments that were released for sale were snapped up within four days at an ave rage price of $1,400 psf, says Eric Teng, executive vice-president (property) at Straits Trading. The units were sold via three marketing agents: DTZ, Knight Frank and Savills, and all the buyers were said to be Singaporeans and permanent residents. According to caveats lodged from July 17 to 24, units sold at Gallop Green ranged from $4.19 million for a 2,992 sq ft apartment to $4.52 million for a 3,229 sq ft apartment. Continue reading →

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