Developers sold an impressive 415 units between 03 Apr – 09 Apr 2023. The sales were distributed across the CCR, RCR, and OCR regions, with the RCR and OCR regions taking the lion's share of 84.3% and 4.3%, respectively. Meanwhile, the CCR region accounted for a respectable 11.3% of the sales. The star performers in each region were Leedon Green in the CCR, Tembusu Grand in the RCR, and The...
It is good to see that the former Khalsa Crescent Prison in Woodlands will be redeveloped into a future residential estate. This development is expected to yield around 500 to 600 units, ranging from 2room flexi to 5room hdb flats. This new estate will provide future residents with access to amenities such as the waterfront, parks, and transport nodes, as well as possible new job openings in...
Singapore enbloc market is quiet, up to 15% price gap between what developers are willing to pay and what owners want is the main reason for this mismatch. Due to the rising costs of construction and labour, the expectations between developers and owners is having a more significant impact on pricing. Only a third of collective sales have succeeded in the current 2021-23 sales cycle, compared to...
GuocoLand and Hong Leong wins as the only bid for the Lentor Gardens site at URA tender. Their bid price of almost S$985 per square foot per plot ratio psf ppr is the cheapest among the five new sites in the Lentor Hills Estate. Even though their bid is on the low side of expectations, it shows they know how to play it safe and stay competitive. This way, they can set the price of the units at a...
Private home prices gained 3.2% in the Q1 2023, despite a drop in volume. The surge in landed property prices and overall growth in non-landed prices fueled this increase, especially in the city fringe area, which outperformed other areas with a 4% jump in prices. One factor that will sustain price growth in Singapore's real estate market is that developers are unlikely to reduce prices due to low...
Developers’ sales week from 27 Mar – 02 Apr 2023, selling 109 units in total The Core Central Region (CCR) performed exceptionally well, accounting for 57.8% of the sales, while the Rest of Central Region (RCR) and Outside Central Region (OCR) made up 15.6% and 26.6%, respectively. Hyll on Holland and Piccadilly Grand were the top-selling projects in the CCR and RCR, respectively, while...
According to Knight Frank's analysis of URA Realis data, the islandwide gross rental yield for 99year leasehold non landed private homes has increased by 0.6% year on year and 0.8% since the pandemic's trough in Q2 2022. For freehold properties, the yield has appreciated 0.5% point year on year and 0.6% since Q2 2020 to reach 3.4%, the first time since Q4 2014. Although many investors in private...
