According to a quarterly report by Knight Frank, overall private home prices grew 0.5% in 1Q2013. March was a record month, with developer sales reaching 2,793 units, mainly from major suburban condo launches such as DNest in Pasir Ris, Urban Vista in Tanah Merah, Trilinq in Clementi, Bartley Ridge in Mount Vernon and Hillion Residences in Bukit Panjang. The number of new home sales for 1Q2013 totalled 5,533 units, or about 27% higher than in 4Q2012, according to Knight Frank Research. The property consultant attributes the buying frenzy to fears that another round of property-cooling measures was imminent.
While residential property prices are still growing, the pace is much slower. Price growth was strongest in the suburbs, or Outside Central region, at 1.7%, as at end-1Q2013. Overall private home prices increased 3.4% y-o-y in 1Q2013, the highest y-o-y increase since 2Q2012, according to Knight Frank.
As for residential leasing, the mid-tier segment grew 4.1% to $5.15 psf per month in 1Q2013, showing stronger growth relative to the mass market, which grew just 0.7% to $3.36 psf per month, and the high-end segment, which fell 0.6% to $5.84 psf per month.
Source – TheEdge – 29 Apr 2013
Posted in Cooling Measures, Property Market / Real Estate
Tagged Bartley Ridge, Bukit Panjang, DNest, Developer Sales, Hillion Residences, Pasir Ris, property-cooling measures, Residential area, Trilinq, Urban Vista
Close to 75 percent of all private homes launched in the first quarter of 2013 came from six popular 99-year leasehold condominium projects in the Outside Central Region (OCR) or 67.9 percent of all units sold, said Colliers International.
They include the 630-unit Q Bay Residences which sold 463 of the 520 units released in Q1 at prices ranging from S$823 to S$1,277 psf, and the 582-unit Urban Vista where 348 units were sold out of the 420 launched with prices ranging between S$1,193 and $1,692 psf.
The 912-unit D’Nest sold 699 of the 800 units launched at prices ranging from S$737 to S$1,299 psf, while Hillion Residences – a 546-unit mixed development in Bukit Panjang sold 191 units out of the 250 released at prices from S$1,225 to S$1,698 psf.
The 755-unit Trilinq sold 106 out of the 200 units released in March at prices that ranged from S$1,193 to S$1,843 psf, while the 810-unit La Fiesta sold 476 out of the 500 units launched at prices between S$956 and S$1,440 psf.
Factors which contributed to the success of these projects included location, competitive pricing and proximity to public transportation networks like MRT stations, noted the consultancy.
Sales were also bolstered by incentives such as rebates, early-bird prices and developers absorbing part of the additional buyer’s stamp duty (ABSD).
Moving forward, demand for private homes in the long term remains steady despite the slew of cooling measures implemented by the government in Q1 2013. This bullish outlook is supported by the new high-speed rail link between Singapore and KL, in addition to the upcoming Cross Island Line (CRL) and Jurong Region Line (JRL) by 2030.
Source : PropGuru – 25 Apr 2013