Launch Property Singapore

Come and find out about new launch and condo news in Singapore! Subscribe to our blog now for more latest property information.

  • Home
    Home This is where you can find all the blog posts throughout the site.
  • Categories
    Categories Displays a list of categories from this blog.
  • Tags
    Tags Displays a list of tags that have been used in the blog.
  • Bloggers
    Bloggers Search for your favorite blogger from this site.
  • Team Blogs
    Team Blogs Find your favorite team blogs here.
  • Login
    Login Login form

Around 25,000 households were granted HDB loans between January 2013 and June of this year. Among this group, the housing board assisted 1,312 households with another HDB loan on top of the previous two loans.

According to the Ministry of National Development (MND), HDB evaluates the situation on a case-by-case basis before granting such loans.

"Typically, these are flat buyers who have a steady income, in urgent need of housing, but are unable to secure financing from the banks due to poor credit records," said MND.

The ministry was responding to a query made by MP for Hougang Png Eng Huat on the number of HDB flat owners taking more than two loans. He also asked about the qualifying criteria for such loans.

Credits: Property Guru

Tagged in: Decline
Hits: 835
Rate this blog entry:

Posted by on in Resale

The drop in private residential home prices in Q3 has added pressure on developers who are already struggling to move units, reported the media.

According to analysts, margin compression is a real threat among property developers in Singapore as the government is unlikely to relax its property cooling measures anytime soon.

CIMB noted high supply, subdued expectations on property prices and financing restrictions limit buying activities, with private homes prices expected to fall by five percent this year.

With this, CIMB expects developers' profits to be muted due to higher land costs and weaker average selling prices.

"We think it is a little too early for a relaxation of housing restrictions and expect developer stocks to be range bound in the near term," it said.

Meanwhile, PropNex observed the price decline was accompanied by a significant decline in monthly primary private home sales. This is because buyers held back their buying decision in anticipation of a further price drop.

"We think the reduced volume transactions have reflected the near-term reduced market size and are likely to stabilise at this level as marginal buyers have been impacted by the financing restrictions put in place," said PropNex.

"Developers are facing the prospect of margin compression on weaker ASPs and as land prices remain high. Most developers have diversified overseas into countries such as Australia and the UK, as well as have boosted their recurrent income streams by investing in investment properties. This will enable them to generate higher PBT margins of 15-20 percent vs. 10 percent from the local projects, and will lift their RNAVs," it added.

Credits: Property Guru

Hits: 846
Rate this blog entry:

484 units were sold last month.

Private developer sales remained lacklustre in July. Sales inched up very slightly with 484 units sold last month compared to 482 units in June.

According to PropNex Realty, the Rest of Central Region (RCR) was the most active in July, accounting for 46.1 per cent of new private home sales, while Outside Core Region (OCR) and Core Central Region (CCR) accounted for 35.7 per cent and 18 per cent respectively.

"May's exuberant private home market was largely due to two huge projects (Coco Palms and Commonwealth Towers) which accounted for over half of the month's launches and sales respectively. For the months of June and July, however, we see more moderated sales but we could see healthy monthly sales in the future if more projects are priced realistically at levels that would draw in buyers," commented Mr Mohamed Ismail, CEO of PropNex Realty

Here's more from PropNex:

Private home sales remained moderated compared to June 2014 due to the market sentiments and the availability of new launches in July. As a result, developer sales remain subdued in July with a total of 434 units launched and 484 units sold (excluding ECs).

The various Government measures have effectively curtailed demand from all groups of homebuyers. Not only have selected groups of buyers been side-lined by financing rules under the TDSR, the home-buying budgets of eligible buyers have also been trimmed.

Additionally, demand from upgraders from the Housing and Development Board (HDB) market has also been affected by the softening resale prices of HDB flats which are expected to continue on a downtrend.

CEO of PropNex, Mr Mohd Ismail concluded, "Private New Home Sales volume for the whole of 2014 is likely to be in the range of be 9,000 to 10,000 units in all. This is about 35% shy of the 15,000 units sold in 2013 and about 55% lower than 22,688 units sold in 2012."

Credits: Singapore Business Review

Hits: 867
Rate this blog entry:

Core Central Region prices dropped most.

Resale prices for private condominiums fell to another record low in July, as the Singapore Real Estate Exchange Residential Property Price Flash Report showed that July's resale prices were off 1.3% from the previous month, hitting a 21-month low since October 2012.

The report also showed that condos in the Core Central Region (CCR) led the decline with a 4.0% decrease. Prices in Rest of Central Region (RCR) and Outside Central Region (OCR) dropped 1.1% and 0.6%, respectively.

Meanwhile, resale volume remained flat, posting an estimated 431 transactions compared with 427 in June.
Sales are down 46.6% year-to-date, while sales are off 79% from the peak of 2,050 units in April 2010.

Credits: Singapore Business Review


Tagged in: Eased property site
Hits: 802
Rate this blog entry:

Resale volume dipped 10.2%.

Residential property prices continued their downward slide in July, as the overall HDB resale prices slipped 0.9% in July compared to June. The price drop was most evident in 3, 4, and 5-room flats which saw a decline of 1.0%, 1.8%, and 0.4% respectively.

According to the Singapore Real Estate Exchange, the SRX HDB Price Index shows that July prices marked a 29-month low since Feb 2012.

Compared to the peak in Apr 2013, prices have declined by 7.8%. Year-on-year, prices also dropped by 6.7% from July 2013. Since the beginning of this year, prices have declined 4.0%.

Meanwhile, resale volume picked up slightly month on month. . According to HDB resale data compiled by SRX, 1,341 HDB flats were sold in July's resale market, a 2% increase from June's 1,315 transacted units.

But on a year-on-year basis, July's resale volume is 10.2% down compared with 1,494 units resold in the same month of last year. Comparing to the peak where 3,649 units were resold in May 2010, the volume is down by 63.2%.

Credits: Singapore Business Review

Hits: 832
Rate this blog entry:

Launch Property Singapore

is dedicated to finding your dream homes.

Hi, thank you for taking the time to visit my property portal. Please allow me to introduce myself. I am Kaeden, a full time real estate professional realtor with ERA Realty Network Pte Ltd. I believe knowledge, competency and providing a good service to customers are the keys to success in this line. Take this opportunity to allow me to assist you in locating your ultimate Dream Home.