PAULINE CHUA
REAL ESTATE

High take-up rate for new private homes in May 2022. Prices of new homes appear to be on the rise. New private home sales more than doubled in May and also hit a 6-month high as monthly figures have been hovering around 600 units since cooling measures were introduced in December last year. Developers in Singapore sold 1,356 new homes last month, up 105.5% from April’s 660 units. The spike in sales was mainly attributed to the strong take-up rate (nearly 80%) of 2 major launc

New home sales seem to have stabilised, after the recent cooling measures introduced in December 2021. Month-on-month, the number of new homes sold to foreign buyers has also seen a marked increase. Sales of new private homes seem to have stabilised after cooling measures were implemented at the end of last year. Excluding executive condominiums (ECs), developers sold 653 units in April, about the same as the 654 units sold in March. Most of these were in the Rest of the Cen

Month-on-month, the number of new homes transacted dipped by 22.5%, against a gloomy backdrop of geopolitical tension. February’s performance was further defined by the latest cooling measures, Chinese New Year lull period and declining housing supply. Given that property is still considered a safe haven investment in Singapore, and a record volume of HDBs that will attain their minimum occupation period this year, analysts expect that the sale of new homes will pick up despi

Month-on-month, the number of new homes launched took a 54% plunge while the number of new homes transacted inched upwards by 3.5%. Analysts project overall private residential prices to increase by up to 3% this year, considering the new cooling measures and probable interest rate hikes. Sales of new private homes could reach 9,000 to 10,000 units in 2022, amid fewer launches in the pipeline. New private home sales were stable in January despite fewer launches during the mon

Month-on-month, the number of new homes launched took a 70% plunge while sales of new homes dropped 58%; Prices of new homes appear to be stabilising; Impact of the latest cooling measures is likely to be more defined in the following months. December saw a strong take-up rate of new homes despite a sharp decline in the number of new homes launched. A total of 383 new homes were launched in December, a 70.1% plunge from the 1,283 units put in the market in November. The outsi

Sales of new private homes five-month high in November; Market sentiment currently strong but transient adjustment in demand is anticipated following the latest cooling measures. A total of 1,547 new private homes were moved in November 2021, up nearly 70% from 911 in October 2021. Year-on-year, this represents a 100% increase from the 774 sold in November 2020. So far, new home sales for this year - 12,467 units have already exceeded the whole of last year's sales of 9,982.

Sales of new private homes bounced back in October, after two months of consecutive declines; Market Sentiment remains strong. A total of 909 private condo units moved last month, up 9% from 834 units in September. Year-on-year, this represents a 39% increase from the 654 units sold in October last year. There were 661 new homes put on the market last month, three times more than the 210 units launched in September. This represents a 39% increase from the 423 units a year ago

The Ministry of National Development has on Oct 26, announced the introduction of the Prime Location Public Housing (PLH) model, aimed at keeping prime HDB flats affordable and inclusive. PLH flat owners will be required to pay a percentage of the resale price to HDB when they resell their home on the open market for the first time. This will apply only to those who bought the flat from HDB and not to subsequent resale transactions. The rationale for this is because all subsi

New Private Home Sales fell for second consecutive month in September 2021 as Developers delayed launches; Market Sentiment remains strong with new price highs. A total of 834 new private homes were moved in September 2021, down 31% from 1,216 in August 2021. This represented a 37% year-on-year decrease from 1,329 in September 2020. Including Executive Condominiums, a total of 1,296 new homes were transacted, down 2% from August 2021. This represented a 6.4% year-on-year decr

HDB Resale prices hit an all-time high for a consecutive 6th quarter after growing 2.7% in Q3, 2021, exceeding their previous peak in Q2, 2013 by 0.7 per cent. Year on year, prices are up by 12.3%. Paying cash over valuation (COV) for HDB resale flats is quite common in today’s market. There have been many instances where buyers are even willing to pay over $1 million for a resale flat. There were 67 such HDB flats sold this quarter, the most expensive of which was a five-roo

𝐍𝐞𝐰 𝐏𝐫𝐢𝐯𝐚𝐭𝐞 𝐇𝐨𝐦𝐞 𝐒𝐚𝐥𝐞𝐬 𝐕𝐨𝐥𝐮𝐦𝐞 𝐟𝐚𝐥𝐥𝐬 𝟐𝟒% 𝐚𝐟𝐭𝐞𝐫 𝐉𝐮𝐥𝐲’𝐬 𝐬𝐢𝐱-𝐦𝐨𝐧𝐭𝐡 𝐡𝐢𝐠𝐡; 𝐏𝐫𝐢𝐜𝐞𝐬 𝐫𝐞𝐦𝐚𝐢𝐧 𝐟𝐢𝐫𝐦. Including Executive Condominiums (ECs), new home sales fell by 24.2% month-on-month to 1,322 units in August, from 1,744 units transacted in July. The bulk of new home purchases fell the sharpest in the suburban Outside Central Region (OCR), where 827 units were sold, translating to 62.6% of total sales. The city fringe

21 August 2021 Singapore’s residential market rebounded the most in six months signaling the sector’s resilience as buyers anticipate pandemic restrictions easing. URA’s latest statistics revealed that purchases of new private units rose 82% to 1,589 in July, from 872 in June. This is the highest increase since January, when 1,633 homes were sold, and comes after sales dropped for three consecutive months through June due to tightened virus curbs. The jump is likely due to bu

15 August 2021 [Property Market - Private Residential (2Q 2021)] Similar to the HDB segment, the private residential property market is also experiencing an upward trend. The current situation where demand exceeds supply has resulted in rising prices of resale flats. This has triggered some home buyers to look into the private residential properties. Furthermore, owners of HDB flats are also taking advantage of the high prices of HDB resale flats and cashing out to upgrade to

15 August 2021 [HDB Resale Property Market] HDB resale price index has been on the upward trend since 2Q 2019, and at a more significant rate since 2Q 2020. From the COVID-19 outbreak in migrant worker dormitories last year to disruptions in the supply chain for construction materials and restrictions on the entry of foreign labour, the ongoing pandemic has impacted the supply of public housing. In April 2021, the Ministry of National Development warned that about 85% of BTO

27 May 2021 Throwback 5 years to the launch The Poiz Residences @ Potong Pasir! Those were pre-COVID days when show flats were packed to the brim during launch time. I can vividly recall the snaking queues to view show suites and snaking queues to choose units at the launch itself. And now, during COVID days, new project launches are conducted in a very different manner with safe distancing measures in place, but still, with the same, if not more, amount of interest from buye

15 April 2021 New private home sales in Singapore hit 4-year high for March as buyers flocked to high-end condos. A total of 1,373 new homes were transacted in March, with 42%, or 546 units, in the prime or core central region (CCR). The bulk of the purchases, about 82% were by Singaporeans, with permanent residents and foreigners making up 13.4% and 4.3% respectively. The number of non landed homes bought by PRs and foreigners have both increased by 98.9% and 66.7% respectiv

5 June 2020 Yesterday, a client called me to ask about her property valuation, and also about the Singapore Property Market situation. She feels that it is currently a "Buyers' Market" and hence, she would not be able to obtain a good price for selling her current property. She is not alone. Like her, many people I have spoken to have the same mindset, that the economy seems bleak and property prices are sure to keep dropping. Some are even hoping that the market will crash,