Tag Archives: Singapore Real Estate

Private home sales up 52%

Posted on 18 Aug 2009 | Comments Off on Private home sales up 52%

SALES of private homes hit a new high for the second straight month in July, surging about 52 per cent from June.

Low interest rates, relatively lower prices and a fear of missing the bottom are some reasons behind the strong sales. Although there were also signs of speculation, a significant portion of the sales was backed by real demand, said analysts.

According to the Urban Redevelopment Authority, 2,767 units were sold last month, compared to 1,825 in June. The total number of private homes sold in the first seven months of the year hit 10,017 units.

Property consulting firm Cushman and Wakefield director Donald Han said: “With another five more months to go, (sales could) potentially cross the 15,000 mark. It might go as high to 16,000 to 18,000; it will definitely be one of the records being set.”

Out of the total number of units sold last month, more than half were in the suburban areas, about 27 per cent of the transactions were in the city fringe Continue reading →

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Treasuries Drop Before Report That May Show Home Starts Rose

Posted on 18 Aug 2009 | Comments Off on Treasuries Drop Before Report That May Show Home Starts Rose

Treasuries fell, sending 10-year notes down for the first time in four days, before a government report economists said will show U.S. builders broke ground on homes at the fastest pace in eight months.

Yields climbed from the lowest level in almost four weeks on speculation today’s figures and an industry report later this week on existing home sales will show the U.S. recession is easing. Investors should unwind bets on a rally in longer- maturity Treasuries, according to a note to clients from JPMorgan Chase & Co., one of the 18 primary dealers that are required to bid at the government debt auctions.

“Yields will rebound,” said Takashi Yamamoto, chief trader in Singapore at Mitsubishi UFJ Trust & Banking Corp., part of Japan’s biggest bank. “The U.S. economy is on the way to recovery, slowly.”

The yield on the 10-year note rose three basis points to 3.5 percent as of 7:21 a.m. in London, according to BGCantor Market Data. The 3.625 percent Continue reading →

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