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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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Winter Is Coming?

Winter Is Coming?

In the first three months of 2019, developers seemed to be testing the waters to understand homebuyers’ mindset with respect to the July 2018 measures against the backdrop of a clouded economic outlook. As developers launched 2,989 new homes for sale in Q1 2019, some 1,838 units were sold. This mirrored the take-up of 1,836 units in the previous quarter, a sign that there is demand but buyers are still sizing up the market.

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Start Of A New Cycle

Start Of A New Cycle

The residential market continued to balance the supply-demand tension with pricing strategy as developers/ sellers and home buyers include the higher stamp duties which came into effect since July 2018. Sensing that the pace of sales was slowing down in the fourth quarter, developers launched a smaller number of new homes for sale so as not to create an over-supply situation. As expected, 1,657 new homes were sold, much lower than the 3,754 units sold in the previous quarter. For the whole year, new sales volume fell by 17% to 8,795 units. A similar slowdown was seen in the secondary market. T...

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Live Branded: The Rise Of Branded Residences

Live Branded: The Rise Of Branded Residences

Branded residences first evolved through the partnership of luxury residences with hospitality brands, where the brand name of a hotel is licensed for use on the residence. The hotel operator may also form a more intimate alliance with the developer to provide a full range of services and activities. Although branded residences have been around for nearly a century, it was only since the 1980s that the market has grown significantly, fuelled by an increase in the global population of high-net-worth individuals, growing wealth in emerging markets, evolving consumer trends as well as home owners...

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