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Subscribe to this list via RSS Blog posts tagged in Private Homes

New private home sales are expected to get a boost with four project launches expected by April, reported the Straits Times.

These are Clement Canopy in Clementi by Singland Homes and UOL Group; Park Place Residences at Paya Lebar Quarter by Lendlease; Grandeur Park Residences in Tanah Merah by CEL Development, a unit of Chip Eng Seng Corporation; and Seaside Residences in Siglap by Frasers Centrepoint Singapore.

This comes as developers sold just 367 new units in December, when only 90 new units were launched. On an annual basis, however, new home sales increased by seven percent from 7,440 units in 2015 to 7,972 units last year.

This year, Knight Frank expects developers to sell about 8,000 to 9,000 units amid “gradually returning interest” from local and foreign buyers.

“With more people believing that the market is now close to the bottom of the down cycle, interest in new launches will likely be sustained,” said Christine Li, Research Director at Cushman & Wakefield.

Analysts noted that pent-up demand for homes remains resilient despite the property cooling measures and weaker economic outlook.

Nonetheless, home buyers are expected to remain price-sensitive and selective, opting for competitively priced and well-located projects.

“They will transact only when they perceive a good deal… However, a rapid rise in interest rates would impact market sentiment, which may cause demand to retreat,” said Wong Xian Yang, Head of Research and Consultancy at OrangeTee.

Credits: Propertyguru

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Posted by on in Resale

NEXT year is set to be a quiet one for the Housing Board resale market - similar to 2013, which has seen the fewest deals in years, said analysts. But they added that while activity will be slow in the first half, it is expected to pick up in the second half as lower prices and cash premiums entice buyers into the market.

"As prices and COV (cash-over-valuation) continue to moderate, more buyers may buy resale instead of new flats due to the waiting time for new flats," said ERA Realty key executive officer Eugene Lim.

In the first nine months of this year, there were 14,099 resale transactions.

This month, there were only 557 transactions up till Dec 16, according to HDB data collated by Singapore Property Watch.

Analysts expect the total number of deals for the year to come in at under 20,000.

SLP International Property Consultants head of research Nicholas Mak's estimate is 17,200 to 18,500 - "one of the lowest in years", compared with annual resale volumes of over 24,000 to over 37,000 in the past five years.

And he expects even fewer flats to change hands in 2014.

One reason is the tighter rules on permanent residents (PRs) buying flats. Since Aug 27, new PR households must wait three years before they can get a resale flat - previously, there was no waiting time.

According to the HDB, in the first eight months of the year, PR households bought an average of 323 units each month. But since the new rules kicked in, only an average of 176 units per month were sold to PRs in the past few months.

"Based on these preliminary figures from the HDB, the drop in demand from PRs will reduce the (overall) demand for resale flats by about 10 per cent in 2014," estimated Mr Mak.

Others think that activity next year will be similar to this year's.

"Resale volume will remain low, at roughly the current levels," said Century21 chief executive officer Ku Swee Yong.

First-time buyers are finding it easier to get new flats, meaning fewer such buyers are looking at the resale market, he added.

He expects the Government to raise the quota of new flats open to second-timers, which means buyers may turn to this market rather than resale flats.

Chris International director Chris Koh also expects next year's figures to be similar, but with an improvement in the second half.

He thinks transactions will continue to average about 5,000 per quarter in the first half of the year, but will pick up after that as buyers are drawn back into the market by low prices.

Meanwhile, ERA Realty's Mr Lim said the real estate agency is "quietly optimistic that resale HDB volumes will pick up in 2014". Besides the attractiveness of lower prices, buyers may also opt for the resale market as the HDB is slowing down its launch of Build-To-Order flats, he added.

He thus expects resale volumes "to be a shade better than this year" - more than 20,000, but shy of the 25,000 or so seen in 2011 and 2012.


  • In the first nine months of this year, there were 14,099 resale transactions. This month, there were 557 transactions up till Dec 16.
  • Analysts expect the total number of deals for the year to come in at under 20,000.
  • This is compared with annual resale volumes of over 24,000 to over 37,000 in the past five years.


Taken from ST Property

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Posted by on in HDB

After three years of ramped-up construction, reducing the supply of Build-to-Order (BTO) flats makes perfect sense considering reduced buyer demand. But the move will not affect resale prices, revealed media reports quoting analysts. 

This is because given that pent-up demand for new flats has now been addressed, “the profile of buyers going for resale flats and BTO flats is generally different”, said R'ST Research Director Ong Kah Seng.

Analysts were responding to comments made by National Development Minister Khaw Boon Wan that the housing board will taper off its “massive construction programme” from 2014.

The three years of ramped-up BTO supply means that first-time buyers can purchase a new flat instead of a resale flat. This exercise along with the introduction of various cooling measures has helped ease demand for resale flats. As a result, cash premiums and resale prices have fallen.  

Meanwhile, analysts doubt that the tapering will move buyers back to the resale market.

This is because tapering is the result of reduced buyer demand, Ong said. The excess demand, which dates back to the period of severe shortage of more affordable flats, has already been satisfied. 

In addition, sellers of resale flats are not expected to raise prices since the cooling measures have curbed the ability of buyers to purchase pricey flats. 

Chris Koh, Director of property consultancy Chris International, noted that some demand may return to the resale market, but only if supply falls such that it becomes difficult to acquire a BTO flat.

But he does not expect this to happen and is maintaining his earlier forecast that resale prices will drop five to 10 percent in 2014.

Credit from  PropertyGuru

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