Despite falling volumes, the increase in rental prices is a positive sign for the property market, especially for landlords who are facing increasing costs such as maintenance fees, property taxes, and bank installments. It may also encourage more property owners to rent out their units, rather than leaving them empty, and help with the tight supply situation. Furthermore, the fact that rents...
Singapore real estate market is a valuable tool to hedge against inflation in the long run. Despite recent short term uncertainties, such as the increase in Buyer Stamp Duty BSD, there are still opportunities to find good deals. The surge in sales in Feb23 after 4 months is a positive sign for the market, indicating the strong underlying demand after the CNY period. Nearly half of the...
The condo resale market tracks a rebound back in terms of volume and price. Volume increases by 50% after a slowdown in Jan due to CNY. Month of Feb volume is higher than Jan 23 and Dec 22. Prices increase 1.4% on a month to month, which means that the underlying demand is still strong. Highest growth shown in OCR with an impressive price increase of...
Developers’ sales for the week of 20 Mar – 26 Mar 2023 were 61 units The CCR accounted for 57.4% while the RCR and OCR made up 21.3% and 21.3% The top-selling projects in the CCR are Irwell Hill Residences, Leedon Green, One Bernam and Pullman Residences Newton The top-selling projects in the RCR are Corals at Keppel Bay, Piccadilly Grand and The Landmark The top-selling projects in the...
I can relate to how challenging it can be for owners to sell their HDB flat under the Ethnic Integration Policy (EIP) quota. In fact, I recall a recent case where a Shunfu Road HDB owner, who happened to be of Indian race, had difficulty selling their flat. This restriction made the pool of potential buyers much smaller, which means that only Malays, Indians and Other Races can buy the...
I think that having a build-to-rent BTR segment is a great idea to offer more alternatives for people looking for rental homes. It can also help to compete against the current market and provide more options for investors. However, I personally feel that a more worthwhile solution would be to introduce a vacant unit regulation control. This would help to address the issue of owners purposely...
As with any new town development, it's not uncommon for there to be some initial hesitancy among homebuyers. Just like Punggol, Tengah is still in the early stages of development, so it's not surprising to see a muted response so far. However, as Tengah continues to take shape and more amenities are introduced, we may start to see a shift in buyer sentiment. In fact, buying into an...
Developers’ sales for the week of 13 Mar – 19 Mar 2023 were 68 units The CCR accounted for 57.4% while the RCR and OCR made up 16.2% and 26.5% The top-selling project in the CCR is Leedon Green, followed by Rivière and The Landmark in the RCR, and The Botany at Dairy Farm in the OCR Sales in February 2023 were 9.9% higher than January 2023 despite the marginal increase in Buyer’s Stamp...
We know that covid has turned the supply & demand housing situation into a mess over the last three years. The demand for rental units in Singapore has been abnormaly high due to the delays in the construction sector. Local families have to rent while waiting for units to be built up. And also with the reopening, demand further increases from the returning influx of foreign talent,...
As both a real estate agent and also started a few business on the side myself, I have been observing the housing market and also how it affects people's decisions. Owning a property is almost like a rite of passage for most Singaporeans over here but I've been also noticing more and more people are now opting to rent instead of buying. Mainly driven by a few factors like lifestyles preferences,...
