Tag Archives: Singapore Real Estate

Singapore’s property rebound may not be sustained, Mah says

Posted on 30 Jul 2009 | Comments Off on Singapore’s property rebound may not be sustained, Mah says

Demand in Singapore’s property market may not be sustained because of economic uncertainty and ample supply, National Development Minister Mah Bow Tan said.

The city-state is “monitoring the market closely” to ensure speculation in the property market doesn’t lead to a bubble forming, Mah told reporters today in Singapore.

“I think some of the practices and habits you saw in the last property boom are beginning to come back,” said Mah. “We will take whatever actions necessary to prevent such a situation from happening, but it is important for buyers themselves to be aware.”

Home sales jumped 9.1% in June from May to the highest since the Urban Redevelopment Authority began releasing the data. Still, home prices have fallen for a fourth straight quarter, with an index of private residential property prices dropping 4.7% last quarter, the authority said July 24. Continue reading →

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Posted in New Launches

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Over S$27.5b invested in Marina Bay from private and public sector

Posted on 30 Jul 2009 | Comments Off on Over S$27.5b invested in Marina Bay from private and public sector

More than S$27.5 billion has been invested so far in the new business and financial district in Marina Bay and the government is planning to pump in a further S$1 billion in infrastructure works there over the next 10 to 15 years.

Singapore’s National Development Minister Mah Bow Tan announced this at the topping out ceremony for the construction of the Marina Bay Financial Centre on Wednesday morning.

He also said there are some signs of speculation in the recent frenzy in the property market.

The government announced in April that Marina Bay had attracted total investments of over S$22 billion of which S$5.7 billion was from the government, and S$16.5 billion was from the private sector.

And just three months later, that figure, which includes government and private sector investments, has risen to over S$27.5 billion. Continue reading →

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Posted in Property Market / Real Estate

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