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This article first appeared in Business Times Property 2022 on Mar 31, 2022. 2022Mar31-BT-Landed-home-prices-set-to-stay-firm-if-not-tend-upwards-1 Download

SINGAPORE LUXURY HOMES – H2 2021 SURGE IN LUXURY SALES VOLUME AND PRICES In 2021, at least 665 luxury residential properties were sold, according to caveat data compiled by URA. This is about a 120% increase over the sales volume in 2020.   The surge in sales volume in this tier is remarkable. Stoked by a booming stock market, low interest rates, and a pandemic-era’s amplified focus on home life, prices for luxury homes have also risen significantly across the housing types. A total of 34 bungalows in the GCB areas and 14 bungalows at Sentosa Cove were sold in H2 2...

Residential Market Watch Q3 2021 Sales volume and prices continued to rise The pace of private residential sales continued unabated despite the spike in Covid-19 infections from August onwards. Singapore is trying to live with COVID-19 and containment measures were eased as part of a phased reopening since the national vaccination rate hit 80%. Advanced estimates showed that the Singapore economy grew by 6.5% year-on-year, much slower than the 15.2% growth in Q2 2021. Nevertheless, the Monetary Authority of Singapore kept the forecast for the year at 6-7% on the basis that eco...

A pair of adjoining three-storey conservation commercial shophouses at 44 & 46 Club Street. Sold by List Sotheby’s International Realty, Singapore for $25.5 mil in July 2021 The first sign of vibrancy in the shophouse market was noted when 57 deals were closed in Q4 2020, up from the average of 30 deals in the previous three quarters. The sales momentum continued in 2021 bringing the total deals in the first eight months of the year to 166. At this rate, 2021 is on track to outperform the pre-pandemic high of 170 deals in 2018. Depending on the size of deals, there is a possi...

by Han Huan Mei / Cheong Choon Ghee The census of population in 2020 showed that Singapore’s home ownership stood at 88%, which is one of the highest in the world. By housing types, about 79% of the resident population live in public housing and 21% live in private homes. The total housing stock consists of around 1.07 mil public flats and 379,462 private homes in Q2 2021. Private homes can be further split into 306,199 non-landed homes (apartments/condominiums) and 73,263 landed homes (detached, semi-detached and terrace houses). By proportion, landed homes made up 19.3% of the private...

Residential Market Watch Q2 2021 Homebuyers undaunted by spike in infections Demand for private homes stayed on course in the midst of rising infections as it rode on the wave of the economic recovery in Q2 2021. Advanced estimates showed that the Singapore economy grew by 14.3% year-on-year, an improvement from the 1.3% growth in the previous quarter. While this strong growth was due to the low base in Q2 2020, it was premised on an expansion in the manufacturing sector and the information & communications, finance & insurance and professional services sectors col...

COMMERCIAL MARKET WATCH H1 2021 Signs of Recovery in Office Market Singapore’s office market has experienced a sort of roller-coaster ride in the past 18 months due to the Covid-19 pandemic. At the end of 2020, most companies were assessing what the ‘new norm’ would look like post-Covid-19. For some companies, working from home was becoming a suitable model, for others, the traditional assembly of staff in the same physical location was still preferred. A movement of right-sizing began as companies, major banks in particular, looked to save costs by either giving up space that h...

SINGAPORE LUXURY HOMES – H1 2021 Pandemic-led Boom in Luxury Market The sale of luxury homes is moving at a pace not seen since a decade or so ago. With 53 bungalow deals in the Good Class Bungalow (GCB) Areas in H1 2021, it has exceeded the 46 deals done in the whole of 2020. The  last record high was 67 bungalows sold in GCB Areas in H1 2010. That year – as the Singapore economy rode on the Asian recovery from the Global Financial Crisis – a total of 120 bungalows were sold. The bungalow market at Sentosa Cove also saw a lively momentum with 10 deals in H1...

The Makings Of A New Midtown Once a traditional place of business started by early settlers of Singapore, the Beach Road-Bugis district of today is a thriving mix of commercial businesses and lifestyle establishments. The continuous transformation over the years, especially in the past 15 years through the government’s planning initiatives and collaboration with private developers is turning it into a new wing of the downtown financial centre. Beach Road is one of the early roads developed in Singapore during the colonial days of the 1800s. It was originally a coastal road fronting...

VIGOUR IN RESIDENTIAL MARKET Robust sales fuelled price growth Market sentiments continued to improve with the successful roll-out of the vaccination programme alongside Phase 3 of the reopening of the economy. More employees are allowed to return to the workplace to better support work and business operations.  This renewed confidence was also reflected in the vigour of homebuyers as they drove the new and resale home volumes in Q1 2021. A total of 3,493 new homes were sold, the second highest quarterly volume since Q2 2013; 4,519 resale homes changed hand...