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Subscribe to this list via RSS Blog posts tagged in property prices

Colliers International says 171 properties were set available to be purchased as mortgagee deals in the initial nine months of 2015.

This is a 52.7 per cent increase compared to the same period in 2014, which saw 112 such listings. 32 were landed properties, double the 15 listings in the first nine months of 2014.

For the first three quarters of 2015, sales totaled S$90.8 million, a hike of 54 per cent compared to the first three quarters of 2014. Rising interest rates and the increasing supply of homes for rent were key reasons for the rise in mortgagee sales.

Taken from iProperty

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While developers and agents constantly advise investors to make well-informed decisions when buying overseas real estate, many seem to be making decisions based on gut instinct. Grant Thornton’s new report reveals that gut instinct is responsible for approximately US$250 billion a year in overseas real estate investment.

The financial firm cautions over reliance on instinct without market analysis and research, citing the possibility of investors missing out on emerging opportunities.

According to the report, cross-border real estate transactions during H1 2015 increased by nine per cent, likely an aftereffect of speculators craving to put resources into politically stable areas.

Premonition is specified as a key driving variable when choosing areas for ventures. The Thornton report refers to the significance of distinguishing rising security, as regions that have as of late gotten to be venture/designer inviting offer important open doors as well.

Besides, it says that urbanization gives opportunities. As built up urban communities get to be immersed, lesser known regions are opening up and give speculation opportunities. Financial specialists can advantage by entering these optional markets when expenses of section are lower.

Taken from iProperty

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Sydney's property business market is currently one of the most expensive in the world.. The circumstance is required to change with an approaching inundation of supply. Goldman Sachs' estimate a supply glut of 75,000 homes by 2017.


Accompanying the increase in supply is dwindling demand.

Median prices have recently reached a record high of AU$773,000 (US$544,000) and investors are being constrained by stricter lending requirements and lower yields. .

There are on the other hand, repudiating assessments. Different specialists set that lodging in Sydney is undersupplied, and the new supply addresses this issue.

Harley Dale, business analyst for the Housing Industry Association, says the record number of new houses fabricated for the current year is advancement on comprehending lodging deficiencies. He trusts that no less than 60,000 houses must be assembled yearly in New South Wales for the following two years before the issue of lodging deficiencies can be controlled.

Dr Andrew Wilson, Senior Economist for Domain Group agrees, and includes that Sydney will most presumably face property deficiencies, with reasonableness remaining a key issue.

Taken from iProperty

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BNP Paribas has proposed in a recent report that expenses of private property have not dipped fundamentally in spite of cooling measures, as designers are hesitant to lower costs because of the high cost at which land was obtained. Land has been acquired in recent years at S$400 to S$800 psf.

Prices remain elevated to ensure developer profits. BNP Paribas' report likewise recommends Singapore's lodging business sector may face oversupply from 2016 because of lower interest, including oversupply of private property, tight migration approaches and rising interest rates.

Costs are relied upon to hit the most minimal point in 2018/2019. Expert Chong Kang Ho trusts the base case situation would see the oversupply at the very least in 2020 preceding the circumstance progresses.

With proactive supply cuts and no outer stuns, BNP Paribas trusts the present oversupply cycle won't have as negative an effect as the one somewhere around 1997 and 2006.

Taken from iProperty

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The iProperty Asia Property Market Sentiment Report H2 2015, Asia’s largest consumer property sentiment survey, released on 1 October, sees purchase intent rising, along with an increase in budgets and expectations of relaxed cooling measures.

43 per cent of respondents (up from 38 per cent in H1 2015) intend to buy within the next 12 months; 41 per cent (up from 40 per cent) intend to purchase within one to two years.

Buyers have also increased budgets, with 56 per cent (up from 40 per cent) showing a financial plan above S$800,001 and 20 per cent (up from 17 per cent) with a financial plan above S$1m. 75 per cent of respondents trust that cooling measures will be lifted inside of a year, while 90 per cent trust that will happen inside of the following year and a half.

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According to JLL, Q3 2015 saw seven residential properties out of ten being sold at auctions, all of which were mortgagee listings.

Auctioned homes fetched better prices this quarter, with residential sales reaching S$13.62 million compared to S$6.83 million in Q2 2015.

All ten properties were successfully auctioned at their first appearance, a marked improvement compared to Q2 2015, when only half of the properties were successfully sold at their first appearance.

Many required multiple relisting before being sold.

Taken from iProperty

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Flash estimates released by the URA on 1 October 2015 revealed that the private residential property index dipped to 142.3 points in Q3 2015, a drop of 1.9 points (1.3 per cent), compared to Q2 2015.

Non-landed private property costs fell across all market segments. Costs in the Core Central Region (CCR), Rest of Central Region (RCR), and Outside Central Region (OCR) declined by 1.3 for each penny, 1.5 for every penny and 1.6 for each penny separately, contrasted with the past quarter.

Costs of Housing Development Board (HDB) resale pads fell also. As per HDB glimmer assesses, the resale value record saw a 0.3 for each penny decrease in Q3 2015. The decrease has backed off in examination to the 0.4 for every penny decay seen in Q2 2015.

Taken from iProperty

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Between April and June home prices in Australia recorded their largest quarterly gain in more than five years, spearheaded by Sydney, which saw its largest rise on record.

The eight capital cities saw a gain in residential property prices of 4.7 per cent on the quarter, the largest increase since Q4 2009.

Sydney private costs jumped by 8.9 for each penny in Q3 2015, bringing about a 18.9 for every penny pick up in Sydney home costs contrasted with 2014. Normal home costs in New South Wales were the most noteworthy in the nation at A$777,400 (S$783,800).

Property data and investigation firm CoreLogi RP Data's month to month report demonstrates that home costs in prevalent territories, for example, Sydney and Melbourne were beginning to cool in August.

With July administrative measures executed to fix home loan giving to financial specialists, late closeout freedom rates point towards the achievement of fixing measures.

Taken from iProperty

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Between April and June home prices in Australia recorded their largest quarterly gain in more than five years, spearheaded by Sydney, which saw its largest rise on record.

The eight capital cities saw a gain in residential property prices of 4.7 per cent on the quarter, the largest increase since Q4 2009.

Sydney private costs jumped by 8.9 for each penny in Q3 2015, bringing about a 18.9 for every penny pick up in Sydney home costs contrasted with 2014. Normal home costs in New South Wales were the most noteworthy in the nation at A$777,400 (S$783,800).

Property data and investigation firm CoreLogi RP Data's month to month report demonstrates that home costs in prevalent territories, for example, Sydney and Melbourne were beginning to cool in August.

With July administrative measures executed to fix home loan giving to financial specialists, late closeout freedom rates point towards the achievement of fixing measures.

Taken from iProperty

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The Urban Redevelopment Authority (URA) has accepted an application from a developer to put the residential site at Lorong Lew Lian up for sale by public tender, based on the acceptable bid price committed.

The land parcel was available for sale on URA's Reserve List and the designer who presented the application for the site has resolved to offer in any event S$250,000,000 in the delicate for the area package.

While the base value focused on the site is uncovered, the candidate's personality stays secret after conventions of the Reserve List framework.

General society delicate for the site will be propelled by URA in the following month, with the precise dispatch date to be affirmed.

The delicate period for the area bundle will last between four to six weeks. The area zone is roughly 1.4ha, and the private site has a greatest reasonable gross floor region of 42,005 m2.

Taken from iProperty

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Bidadari home will soon have 2,150 new flats, comprising of two-to five-room units propelled available to be purchased under HDB's Build-to-Order (BTO) exercise.

This dispatch will be the first of HDB flats in the Bidadari home, and purchasers with folks living in Toa Payoh, Potong Pasir, or inside of a 2km sweep will have need.

The home is relied upon to house around 10,000 private units in the end, and in addition group shopping centers, a lake and a ten-hectare park. The domain is arranged in close closeness to two North East Line MRT stations, Woodleigh and Potong Pasir.

Property watchers expect costs of Bidadari units to be at a higher value point taking into account its city-fringe area.

Mr Eugene Lim, ERA Realty's Key Executive Officer said to Channel NewsAsia that he expects costs for flats in the Bidadari bequest to extend from S$300,000 to S$350,000 for three-room flats, S$400,000 to S$450,000 for four-room flats and S$600,000 for five-room flats.

This BTO activity is the first since the pay top was raised to S$12,000, which Mr Ku Swee Yong, CEO of Century 21, accepts will draw more purchasers.

Taken from iProperty

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Bidadari estate will soon have 2,150 new flats, consisting of two- to five-room units launched for sale under HDB’s Build-to-Order (BTO) exercise.

This launch will be the first of HDB flats in the Bidadari estate, and buyers with parents living in Toa Payoh, Potong Pasir, or within a 2km radius will have priority.

The estate is expected to house approximately 10,000 residential units eventually, as well as community malls, a lake and a ten-hectare park. The estate is situated in close proximity to two North East Line MRT stations, Woodleigh and Potong Pasir.

Property watchers expect prices of Bidadari units to be at a higher price point based on its city-fringe location.

Mr Eugene Lim, ERA Realty’s Key Executive Officer said to Channel NewsAsia that he expects prices for flats in the Bidadari estate to range from S$300,000 to S$350,000 for three-room flats, S$400,000 to S$450,000 for four-room flats and S$600,000 for five-room flats.

This BTO exercise is the first since the income cap was raised to S$12,000, which Mr Ku Swee Yong, CEO of Century 21, believes will draw more buyers.

Taken from iProperty

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Singapore’s residential leasing market is facing downward pressure on rents, a result of increased supply coupled with softening demand. Despite high transaction volumes, vacancy rates are increasing and rents are falling.

According to a new report from Savills, quarter-on-quarter (QoQ) leasing volumes in Singapore for Q2 2015 increased by 10.9 per cent, from 15,435 to 17,262 transactions.

The growth came mainly from the Outside Central Region (OCR), which saw quarterly transactions increase by 13.7 per cent, to 5,672 transactions. Savills attributed the increase in transactions to standard two-year leases being replaced by more one-year tenancies.

With more completions, supply is increasing and the number of private residential homes in Q2 2015 reached 318,524 – a 2.2 per cent increase quarter-on-quarter. Most of the new supply is within the OCR, which saw 124 per cent growth to 5,643 units, compared to Q3 2014.

As Singapore offers overseas talents plenty of job opportunities, there is greater demand for housing leases for expatriates employed on local terms.

However, the rise in demand from these tenants is insufficient to keep up with the supply of new private residential units. Rents dropped 1.1 per cent QoQ in Q2 2015, and vacancy rates were at a nine-year high.

Senior Director of Savills Research Singapore Alan Cheong believes that it will remain a tenants’ market as supply of private residential units is expected to exceed demand.

Taken from iProperty

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In light of a series of cooling measures that has resulted in dismal home sales, developers have begun appealing to buyers by designing homes with a plethora of amenities.

The High Park Residences Condominium in Fernvale boasts an array of 118 facilities over 366,000 sq ft of land.

Prime location, a picturesque view, and resort-style living or standard pool, tennis court and gym facilities are insufficient.

Developers are throwing in added value propositions such as cycling velodromes, indoor and outdoor theatres, boxing rings, and free lifestyle classes, which appear to be helping to increase sales volume.

High Park Residences saw 78 per cent of its 1,390 units sold for a median price of S$989 psf within a week of being put on the market.

Taken from iProperty

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One of the most memorable highlights of this year’s National Day Rally was the raising of income ceilings, as the government moves to enhance the affordability and accessibility of public housing.

Income ceilings for new Housing and Development Board (HDB) flats and Executive Condominiums (ECs) have been raised by S$2,000, to S$12,000 and S$14,000 respectively.

Senior citizen income ceilings for monetising schemes—such as the Lease Buyback Scheme, the Silver Housing Bonus, and short-lease two-room flats—have increased from S$10,000 to S$12,000. Singles’ income ceilings increased from S$5,000 to S$6,000, enabling more to qualify for new or resale two-room HDB flats.

This is in line with the rising real income of the populace and to bring more eligible people into the fold. The income ceiling required of the Special CPF Housing Grant (SHG) will also be reworked from the current S$6,500 to S$8,500.

Similarly, the maximum housing grant amount has been doubled to S$40,000, helping to make homes more affordable for lower and middle income families.

Taken from iProperty

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A Knight Frank’s report has revealed RM166.10 billion invested in the Iskandar region as of March 2015. The Real Estate Highlights 1H2015 reported that foreign investment accounted for 38 per cent of the total investment value, with the top five countries being Singapore, the United States, Spain, Japan, and China; RM78.53 billion (47 per cent) of the investment has been realised.

The cooling measures introduced by Bank Negara Malaysia to curb property speculation have resulted in a relatively sluggish market, with transaction volumes falling.

Developers are delaying the launch of new high-rise residential projects as potential buyers adopt a ‘wait-and-see approach’.

Also, the impact of the newly-introduced Goods and Services Tax (GST) has yet to become apparent. While interest is expected to shift to the commercial and industry sector, luxury homes are expected to be well-received by Johoreans.

Taken from iProperty

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The Housing and Development Board (HDB) has announced a new 2-room Flexi scheme—a hybrid of the existing Studio Apartment (SA) and 2-room schemes—to offer homebuyers greater lease-term options.

These schemes will be available from next month and applicable to the Punggol and Bidadari Build-to-Order (BTO) exercise.

Over 70 BTO projects, to be completed in the next five years, will incorporate 2-room Flexi flats, with 40 per cent set aside for the elderly. Current SA homeowners are given flexibility in the extension of leases, by five, ten, or 15 years, compared to only ten years previously.

Those who opted for the Lease Buyback Scheme (LBS) prior to April can extend their lease by another five years at current market value, beginning April 2016.

SA homebuyers awaiting their flats will bear no cost of the forfeiture fee if they decide to switch to a short-lease Flexi flat. However, this must be done before 19 August 2016.

Second-timers above 55 years old who are buying a new two- or three-room flat will see a waiver of interest accrued on their resale levy if their first subsidised flat was sold before March 2006. This option will be made available in September 2015’s BTO exercise.

The short-lease option will also be extended to them whether they have enjoyed housing subsidies before, or own a private residential property.

Singles earning more than $5,000, divorcees, households who have enjoyed two housing subsidies and private property owners will have to pay a prorated amount. They will however, be unable to put properties on short-lease terms on the resale market.

Taken from iProperty

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The Housing and Development Board (HDB) has announced a new 2-room Flexi scheme—a hybrid of the existing Studio Apartment (SA) and 2-room schemes—to offer homebuyers greater lease-term options.

These schemes will be available from next month and applicable to the Punggol and Bidadari Build-to-Order (BTO) exercise.

Over 70 BTO projects, to be completed in the next five years, will incorporate 2-room Flexi flats, with 40 per cent set aside for the elderly. Current SA homeowners are given flexibility in the extension of leases, by five, ten, or 15 years, compared to only ten years previously.

Those who opted for the Lease Buyback Scheme (LBS) prior to April can extend their lease by another five years at current market value, beginning April 2016.

SA homebuyers awaiting their flats will bear no cost of the forfeiture fee if they decide to switch to a short-lease Flexi flat. However, this must be done before 19 August 2016.

Second-timers above 55 years old who are buying a new two- or three-room flat will see a waiver of interest accrued on their resale levy if their first subsidised flat was sold before March 2006. This option will be made available in September 2015’s BTO exercise.

The short-lease option will also be extended to them whether they have enjoyed housing subsidies before, or own a private residential property.

Singles earning more than $5,000, divorcees, households who have enjoyed two housing subsidies and private property owners will have to pay a prorated amount. They will however, be unable to put properties on short-lease terms on the resale market.

Taken from iProperty

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Prices of high-end condos in prime districts and Sentosa Cove have been hardest hit by cooling measures introduced by the Monetary Authority of Singapore (MAS).

One seller at the 91-unit luxury condo Turquoise located in Sentosa Cove, sold a three-bedroom unit on the fifth floor for $2.9 million—a drastic 52 per cent reduction from the original purchase price.

In the prime district, Knight Frank’s auction saw a 1,894 square feet, four-bedroom loft unit at Jardin sell for $2.9 million, a loss of approximately $400,000.

In light of falling prices, buyers have indicated strong interest in properties in districts 9, 10, and 11, hoping to purchase units in older condos located near Ardmore Park, Grange Road and the Claymore area.

Taken from iProperty

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Developers recorded 1,594 private home sales in July, compared to 375 in June. According to the Urban Redevelopment Authority (URA), this was the highest since June 2013. Fernvale Development’s High Park Residences saw a near sell-out, with 1,169 out of 1,186 units offered sold, with SLP International Property Consultants’ executive director Nicholas Mak citing affordable prices ($989 psf) as the main reason.

Another notable project included The Botanique at Bartley on Upper Paya Lebar Road, with 63 units sold at a median of S$1,282 psf. Sales volumes of executive condominiums (EC) peaked as well, with 495 units sold last month, compared to 110 units in June.

Two new launches contributed to the increase – The Brownstone on Canberra Drive, with 187 units sold at a median of S$818 psf, and The Vales, with 79 units sold at a median of S$788 psf.

Dr Chua Yang Liang, Head of Research for Singapore and South-east Asia of JLL, told TODAY that while July’s sales figures were high, total sales volume for 2015 are likely to stay between 6,500 to 7,500 units.

Taken from iProperty

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