1) HDB upgraders are slowly getting priced out of the private property market. 2) The number of HDB upgraders acquiring new OCR condominiums has fallen steeply from 53.5% in 2021 to the smallest proportion across the period of analysis. 3) Buyers of new condominiums in the outside central region (OCR) are no longer mostly HDB dwellers, and the median price per square foot (psf) for suburban...
Developers’ sales for the week of 10 Apr – 16 Apr 2023 were 70 units The CCR accounted for 52.9% while the RCR and OCR made up 28.6% and 18.6% The top-selling project in the CCR was Midtown Bay, followed by Tembusu Grand in the RCR, and EC - North Gaia in the OCR URA’s latest data showed that developers sold 492 units in March, 13.6% higher month-on-month Sales in March 2023 was led...
It’s going to be another project whereby its 1 and 2 bedroom units will be fully sold out on launch day. The developer EL Development is pricing it very attractively as compared to another recent project in district 5 Terra Hills, which sold averagely at $2650psf. It will start previews for its Blossoms By The Park project, which will house 275 residential units from Apr 14. The development...
Depending on how you see it, there will be a large supply of new private condos coming up in the new Lentor Hills precinct. As a home buyer, the whole area will become much more vibrant with the new injections of families, infrastructure improvements, more amenities. However, for investors who have bought in for the earlier plots of land would have prefer that the URA released the other plots of...
I think it is a smart move for responsible listed companies to put excess cash into good use, and owning a freehold office building in the CBD can be a good long term investment move. Despite the low single digit yield, it is a good alternative as compared to reinvesting in riskier assets, especially if there is low usage for the core business. Yangzijiang Shipbuilding has agreed to buy a 21...
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...
