5-yr Low for New Private Home Sales
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Re: 5-yr Low for New Private Home Sales
Still there are some wonderful new condo launch in Singapore!
New launch condo
Still there are some wonderful new condo launch in Singapore!
New launch condo
Re: 5-yr Low for New Private Home Sales
Singapore Property Watch Residential Market Snapshot
STProperty shares about the residential market for 2014 and where things stand for the first quarter.
ST701 Editorial Team - March 7, 2014
By: Chew Chang Hui
It has been close to 8 months since cooling measures on the property market were implemented and their effect has been quite obvious. While some were predicting an end to cooling measures, Budget 2014 came and went with hardly a word about cooling measures or property prices. As we move into the end of the first quarter, it might be helpful to take a quick snapshot look at the market and see where things stand.
Landed Property
Sales volume has fallen by more than half, with only 33 units being sold in Feb compared to 62 in January and 69 in December. While the festive season and the time delay in data availability might help to explain the low numbers, the downward trend for landed property sales volume is clear. However, a drop in sales volume is not accompanied by a downward trend in prices. Average prices rose slightly from $1190 per square foot in December to $1296 in February. Out of the 33 units sold in February, only 2 were 99-year leasehold properties. This indicates that despite cooling measures, freehold and 999-year leasehold properties remain in demand, and can continue to command a premium in the market.
Condos, ECs and Apartments
Sales volume has fallen drastically, from 2021 sold in October, to 1539 in December, and finally, 336 in February. Prices have dipped slightly to an average of $1176 per square foot compared to $1215 in October, but saw a rise in December due to the sales of Duo Residences at Fraser Road, which accounted for over a quarter of December’s sales volume and had a premium average per square foot price of $1998. Like its landed counterpart, condominiums continue to maintain relatively high average prices, coming down from $1249 per square foot in September to $1176 in February, a drop of 6%. Sales have historically always been down in the first two months of the year, and we will need to see market behaviour in March and April before we can ascertain the market’s direction. Shoebox units continue to remain attractive to buyers, also providing another bright spot in the condominium market.
Singapore Property Watch Residential Market Snapshot
STProperty shares about the residential market for 2014 and where things stand for the first quarter.
ST701 Editorial Team - March 7, 2014
By: Chew Chang Hui
It has been close to 8 months since cooling measures on the property market were implemented and their effect has been quite obvious. While some were predicting an end to cooling measures, Budget 2014 came and went with hardly a word about cooling measures or property prices. As we move into the end of the first quarter, it might be helpful to take a quick snapshot look at the market and see where things stand.
Landed Property
Sales volume has fallen by more than half, with only 33 units being sold in Feb compared to 62 in January and 69 in December. While the festive season and the time delay in data availability might help to explain the low numbers, the downward trend for landed property sales volume is clear. However, a drop in sales volume is not accompanied by a downward trend in prices. Average prices rose slightly from $1190 per square foot in December to $1296 in February. Out of the 33 units sold in February, only 2 were 99-year leasehold properties. This indicates that despite cooling measures, freehold and 999-year leasehold properties remain in demand, and can continue to command a premium in the market.
Condos, ECs and Apartments
Sales volume has fallen drastically, from 2021 sold in October, to 1539 in December, and finally, 336 in February. Prices have dipped slightly to an average of $1176 per square foot compared to $1215 in October, but saw a rise in December due to the sales of Duo Residences at Fraser Road, which accounted for over a quarter of December’s sales volume and had a premium average per square foot price of $1998. Like its landed counterpart, condominiums continue to maintain relatively high average prices, coming down from $1249 per square foot in September to $1176 in February, a drop of 6%. Sales have historically always been down in the first two months of the year, and we will need to see market behaviour in March and April before we can ascertain the market’s direction. Shoebox units continue to remain attractive to buyers, also providing another bright spot in the condominium market.
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