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Capitalising On New Projects

Capitalising On New Projects

Residential Market Watch Q4 2019 Mass market prices led the way Private home prices edged up by 0.5% q-o-q in the fourth quarter, based on the movement of the URA price index. This modest upside followed the 1.3% and 1.5% gains in the previous two quarters even though there was a 0.7% decline in Q1 2019. Prices of non-land homes in Q4 2019 were largely supported by mass market transactions, as evidenced by the 2.8% q-o-q increase in the price index for Outside Central Region (OCR). The price index for both the Core Central Region (CCR) and the Rest of Central Region (RCR) post...

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A Good Run For Office Market

A Good Run For Office Market

Commercial Market Watch December 2019 Slowing economy In the first three quarters of 2019, Singapore economy grew by 1.1%, 0.2% and 0.7% when compared to the same period last year. Advanced estimates by the government showed that the economy grew by 0.8% in the final quarter which puts the economy on track for a growth of 0.5% to 1.0% in 2019.  Singapore’s export-oriented economy hit a snag amid the ongoing trade war between the US and China as well as a cyclical downturn in the electronics sector. Firms took a cautious stance as they weighed their decisions...

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Luxury Market Driven By  High-Value Deals

Luxury Market Driven By High-Value Deals

The luxury homes market was not spared from dampened market sentiments brought about by the slowing economy in 2019. Compared to 2018, a lower sales volume of luxury homes was transacted in 2019. While the average price of bungalows in GCB Areas suffered a 9.4% year-on-year decline, prices of luxury apartments rose by 8.5% over the same period, supported by some high-value deals. Foreigners and Permanent residents continued to be the key players in the luxury market.

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Homebuyers Warmed Up To New Launches

Homebuyers Warmed Up To New Launches

Residential Market Watch Q3 2019 Highest new sales in 25 quarters The third quarter of every year usually has a shorter sales period due to the inauspicious Lunar Seventh Month which occurs around the month of August. However, the attributes of new projects and their price points could still optimise the opportunity at hand. In Q3 2019, developers focused the release of new projects in July and September, offering some 15 projects in all. Including new releases from earlier launches, a total of 3,638 new homes were offered for sale, 45% more than the 2,502 new homes launched i...

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Co-Anything: Unleashing The Sharing Economy In Real Estate

Co-Anything: Unleashing The Sharing Economy In Real Estate

‘Co-anything’ – where sharing is the new economy With a sharing economy, we are entering an era of ‘co-anything’. Once thought to be a passing fad or a threat to conventional businesses, the sharing economy is now one of the fastest growing business trends worldwide. It is proving to be increasingly extensive, effective and relevant for individuals and organisations in various industries. According to a 2019 report on the Sharing Economy by PriceWaterhouseCoopers, the five key sharing sectors – travel, car sharing, finance, staffing, music and video streaming – have the potenti...

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Residential Supply:  A Balancing Act

Residential Supply: A Balancing Act

It was just slightly over a year ago that the government introduced a new set of cooling measures to “cool the property market and keep price increases in line with economic fundamentals”. The reasons cited were that homes prices were running ahead of economic fundamentals, a large supply of units was coming onstream and interest rates were going up. As of July 2019, the fear of interest rates rising has become benign when the US Federal Reserve lowered its benchmark rate by a quarter point, with hints of one more cut before the end of the year. As for home prices, the price index mod...

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Price Rebound On Improved Sales

Price Rebound On Improved Sales

Residential Market Watch Q2 2019 Price index turned around Developers actively launched new projects in the second quarter in the midst of a deteriorating external demand. Some projects were warmly received and achieved a fairly high take-up rate. A total of 2,502 new homes were launched in Q2 2019. Although this was 16% lower than the 2,989 units launched in Q1, the sales volume of 2,350 units showed a 28% improvement from the 1,838 units sold in Q1. For the half year ended, a total of 5,491 and 4,188 new homes were launched and sold respectively. The stronger sales volum...

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Freehold Landed Homes: Asset For Wealth Preservation

Freehold Landed Homes: Asset For Wealth Preservation

Introduction Most Singaporeans aspire to own private property, and the ultimate dream is to own their very own landed home. According to data from the Singapore Department of Statistics, as of June 2018, about a fifth of the entire population live in private properties, but only 5.1% of Singaporeans live in landed homes. To own land in land-scarce Singapore comes with a hefty price tag. During the colonial era, most of the land for residential properties sit on a freehold or 999-year leasehold tenure, which is equivalent to perpetual or almost perpetual ownership of land....

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Selective Buying In Luxury Market

Selective Buying In Luxury Market

Luxury Homes H1 2019 External events weighed on market sentiments A total of 17 deals within the Good Class Bungalow Areas were known to be closed in H1 2019, amidst a slowing economy due to geopolitical tensions, the US-China trade war, Brexit and the resultant uncertainties. A year ago, in H1 2018, when an air of optimism ruled the market, a similar number of 17 bungalows were sold. Thereafter, market sentiments were dampened by the introduction of higher additional buyer’s stamp duty (ABSD) in July 2018. Even so, the GCB market performed relatively well in H2 2018 with 25 GCB deals...

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Super Penthouses: The Epitome Of Luxury Homes

Super Penthouses: The Epitome Of Luxury Homes

This report has been updated on 3 July 2019 to reflect the sale of 212 Fifth Avenue, New York and Boulevard Vue, Singapore in June 2019. BLOCKBUSTER PENTHOUSE DEALS Citadel-founder Ken Griffin lit up the luxury residential sector in January 2019 when he bought a super penthouse in New York City for US$240 million. This purchase followed another acquisition he made in London in which he forked out US$122 million for a 200-year old house overlooking London’s St James Park. Griffin’s new unit in 220 Central Park South spans across four floors from level 50 to level 53 and will be deli...

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