Market News
Singapore News Latest Singapore New Rulling w.e.f 8th Dec 2011 , ABSD (Additional Buyer Stamp Duty) 1) Foreigners:+10% for 1st purchase, 2) PRs:+3% for 2nd purchase 3) S'poreans:+3% for 3rd purchase.
This is on top of usual buyer stamp duty. Eg: $1M property, foreigners pay SD of $124,600; PRs (2nd purchase) pay $54,600 & S'porean (3rd purchase) pay $ 54,600.
More Details, Call RE/MAX Senior Vice President Lester Tan +65 91017777 e-mail : lestertan7777@gmail.com
Web : www.91017777.com Below are the summary of updates from URA for 4Q 2010 for
private residential properties.
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PRIVATE RESIDENTIAL PROPERTIES
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Sale Prices
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Overall prices of private residential properties increased by 2.7%
in 4th Quarter 2010, compared with the 2.9% increase in the previous quarter.
For the whole of 2010, prices had increased by 17.6%, compared with the 1.8%
rise in 2009.
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Prices of non-landed properties increased by 1.8% in 4th Quarter
2010, compared with the 1.6% increase in the previous quarter. For the year
2010 as a whole, prices of non-landed properties increased by 14.0%.
Prices of apartments increased by 2.4%, while prices of condominiums
increased by 1.6% in 4th Quarter 2010.
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Prices of landed properties increased by 5.5% in 4th Quarter
2010, compared with 7.7% in the previous quarter. Prices of detached,
semi-detached and terrace houses increased by 8.5%, 3.1% and 3.7%
respectively in 4th Quarter 2010.
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Rentals
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Rentals of private residential properties increased by 2.6% in
4th Quarter 2010, compared with the 3.6% increase in the previous quarter.
For the year 2010 as a whole, rentals of private residential properties had
risen by 17.9%.
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Singapore economic growth down to 5.2% next year
Dec 23, 2010 - PropertyGuru
While an economic growth of 14.8 percent is expected to be seen in
Singapore this year, financial services provider HSBC said the slowdown
in growth next year at 5.2 percent is mostly due to the small
contributions coming from net exports and a lowering in inventories, as
the world restocking cycle will likely end. But
these factors are expected to be reversed in 2012 with the global
growth recovery. This will also raise private domestic demand, as well
as increase GDP growth to around 5.8 percent in 2012. Sale value at property auctions up 33%
By Jo-ann Huang |
Posted: 16 December 2010 2258 hrs
 SINGAPORE : With
more prime real estate changing hands, the sale value at property
auctions in Singapore has shot up 33 per cent from the previous year to
a total of S$223.9 million in 2010, according to international property
consultant Colliers International.
This rise above 2009's sale
value of S$168.39 million is still 45 per cent lower than the
decade-high of S$407.43 million recorded in 2007.
The increase in sale value this year was despite a 39.8 per cent dip in auction sale volumes.
Colliers
International attributes this to an increase in the sale of high-value
properties, particularly those valued above S$5 million.
In the
aggregate, about 71 properties were sold in 2010, compared to 118 sold
last year. However, as many as 11 high-value properties, each worth
more than S$5 million, were sold at auctions this year, compared to
only two in 2009.
Colliers said high-value properties
performed well amid a slowdown in the mass-market segment, which
experienced dampened demand due to moderating prices and government
cooling measures.
"The robust sale of high-value properties
was fuelled by the pick-up in demand for landed homes, especially the
Good Class Bungalows, as well as the returning confidence of investors,
which is evidenced by the number of en bloc investment-grade properties
bought by institutional investors during the year," said Grace Ng,
deputy managing director of Colliers International.
Residential properties contributed 51.3 per cent to the total auction sale value, 30 per cent higher from a year earlier.
Residential
sales were driven mainly by the landed property segment. A total of 12
landed homes, worth S$78.95 million altogether, accounted for 68.8 per
cent of the year's residential sales for auctions.
The
non-landed segment saw 24 properties, worth S$35.88 million, being sold
at auctions. Nine of the properties are located in prime districts and
are altogether worth
S$21.71 million.
With yields of 4 per
cent to 6 per cent, the retail sector saw a total of S$27.1 million in
auction sales, making it the second-biggest contributor to the total.
Shophouses
were much in demand. Four properties, in areas including Beach Road and
Dunlop Street, were sold for S$12.6 million, accounting for 46.6 per
cent of the value of all retail properties auctioned off in 2010.
Amidst
rapidly recovering take-up rates and rents, office properties chalked
up S$18.19 million worth of transactions, a five-fold increase from S$3
million last year.
"Sales were boosted by the mortgagee sale
of seven strata office units in The Central for a collective amount of
S$14.59 million. Other office properties sold were strata units in
International Plaza, United House, Manhattan House and Shenton House,"
said Colliers.
As many as 688 properties were put up for auction
sale by owners this year. Forty-two of the properties were sold, raking
in a sale value of S$178.59 million.
On the other hand, only
103 properties were put up as mortgagee sales, the lowest since 1998.
Twenty-nine of the mortgagee properties were sold, fetching a total
sale value of S$45.31 million.
"The growing dominance of
owners' sale in auction bears testimony to the changing public
perception of auction - from one that was largely associated with the
sale of distressed properties and hence shunned by property owners, to
one that is increasingly favoured even by the owners of high-value
properties," Ms Ng said.
She added: "Increasingly, we see
permanent residents and foreign bidders from neighbouring countries -
including Malaysia, Indonesia, Hong Kong, India and even China -
attending auctions to bid for their 'choice' properties."
- CNA/msUnit owners of Serene House to get S$4.1m each
By Jo-ann Huang |
Posted: 15 December 2010 2344 hrs
SINGAPORE : The tender for Serene House has been awarded to luxury-home developer Shelford Properties for S$99 million.
A total of seven bids were received for the residential freehold site.
Marketing agent Colliers International said there were major and mid-tier property players who bid for the site.
The winning bid of S$99 million translates to S$1,400 per square foot per plot ratio.
Serene
House is a four-storey walk-up residence located at Jalan Serene, with
a land area of 40,000 square feet and a gross plot ratio of 1.4.
It has 24 units and is near the landed housing enclave in Bukit Timah.
The owners of the units at Serene House will each receive about S$4.1 million from the sale.
- CNA/al
Private property prices expected to rise 5%-12%
By May Wong |
Posted: 13 December 2010 2140 hrs
Prospective home buyers at a condominium showroom in SingaporeSINGAPORE : Private residential property prices are expected to rise between five and 12 per cent next year.
Analysts
expect high-end properties to lead the price increase. They say prices
in that segment still have room to grow because of the positive
economic outlook for 2011.
Robust economic growth forecast of between four and six per cent next year and abundant liquidity are making analysts upbeat.
Karamjit
Singh, managing director, Credo Real Estate, said: "The residential
market is generally looking very strong, very bright. Having said that,
within the various categories, we believe that the mid-prime and prime
would do slightly better than the suburban market.
"We see
more capital upside in mid-prime, prime. It's also that segment of the
market that has not fully recovered from the all-time peak in 2007,
where the suburban market has surpassed and we're now at historical
highs.
"2010 can be considered as a recovery year, where we're
recovering from an economic slump, from a very low base. So the pace of
rise of values tends to be faster, quicker. I don't think it'll be
repeated in 2011, unless there's an entirely new phenomena that
re-prices the property values in general.
"So here we're talking about a more moderated pace of growth, backed by an overall sense of confidence."
Industry watchers expect prices in the luxury market to easily push past the S$2,500 per square foot mark.
Donald
Han, vice chairman, Cushman & Wakefield, said: "I think the main
reason is that Singapore continues to be a very attractive hub for a
lot of wealth management centres.
"A lot of the investment
banks are beginning to focus in bringing a lot of high net worth
investors to park their money here. And as a result, I think some of
these amounts will continue to trickle into real estate, and
predominantly residential is usually the first stop for some of these
investors.
"In addition to that, I think the market has
started to see rental increases over in 2010 - rents have gone up by as
much as 13 per cent on a per annum basis - and by virtue of the lack of
new supply completed in 2011.
"In fact, the number is close to
about 6,700 units in 2011, versus an average last 10-year trend-line of
9,700, that is, 30 per cent short of completion. We'll see a continued
increase for rental apartments, and this should be able to push up
rentals by at least another 10-15 per cent in 2011."
Observers
expect between 10,000 and 13,000 new private home units to be sold in
2011. In the first 10 months of 2010, over 13,100 private units were
sold.
Another segment to watch in 2011 is the enbloc sales
market. In 2010, small and mid-sized collective sales, priced below
S$50 million, proved to be most successful.
Mr Han said: "I
think the momentum will carry on... The borders ... will start to be
tested. We're beginning to test now and launching projects which are
more than $200 million to as much as half a billion.
"And a lot
depends on the state of the market for the residential project
marketing. I think moving forward, the market for project marketing
will continue to do well. As a result, developers will start to ...
want to land-bank into the private land supply.
"One of the
supplies would be through collective enbloc sales, so continued good
performance for collective enbloc. In 2010, we'd probably hit close to
$1.5 billion in terms of total sales. We expect this number to double
nearer to about $3 billion for 2011."
For now, observers
generally do not expect the government to introduce any additional
property cooling measures, at least within the first half of 2011.
But
if there is any indication of prices becoming unsustainable, it will be
seen either in February or March. Industry watchers say some of the
risk factors that could affect the positive private property sector
performance here include increased interest rates and higher inflation.- CNA/alWelcome Owners Selling, Leasing,
Expats Tenants, Investors Home Buyers
Yours faithfully,
 
Lester Tan (+65) 9101 7777
Senior Vice President
Lestertan7777@gmail.com
www.91017777.com
 
Ivy Kim (+65) 8101 7777
Senior Group Director
Ivykim7777@gmail.com
www.81017777.com
Copyright © 2010 by FindaHome ™ - All rights reserved.
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Lester Tan
陈开荣 Senior Vice President
RE/MAX SINGAPORE Empire Property Group Pte Ltd lestertan7777@gmail.com
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(+65) 9101 7777
(+65) 8222 8855
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