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...
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...
