Archive for category: Misc

The Institute of Real Estate and Urban Studies (IREUS) has released the Singapore Residential Price Index (SRPI) for the month of July. The SRPI, which measures price movements of non-landed private residential properties in Singapore, shows that prices grew 1% m-o-m.

Flash estimates of the SRPI track a basket of 759 non-landed private residential projects completed between October 2003 and September 2021.

The sub-index for the Central Region (excluding small units) climbed by 1.2% m-o-m, while the sub-index for the non-Central Region (excluding small units) grew by 1% over the same period. The sub-index for small units increased by 0.2% for the month.

The revised overall index for June was adjusted to reflect a 0.6% m-o-m decrease, slightly less than the flash estimate that suggested the index fell 0.7%.

For the Central Region (excluding small units), the flash estimate in June showed a 1.2% m-o-m decrease. This figure remained the same in the revised overall index for June. For the non-Central Region, the sub-index was adjusted to reflect a 0.3% decrease; a smaller decline than the flash estimate decrease of 0.4%.

The sub-index for small units in June was adjusted to reflect a 0.4% m-o-m decrease, a lower figure than its previous flash estimate of a 0.6% decline.

In terms of buyer profile, Singaporeans purchased 74.3% of the resale transactions of non-landed private homes in the past 12 months. Singapore permanent residents represented 21.4% of such transactions, while foreigners accounted for approximately 4%.

The Tengah Plantation EC is expected to be a significant game-changer for the Tengah Town. It’s launch will bring in an influx of property owners in search of attractive prospects such as capital appreciation and rental yields. With this new EC development, the town is likely to reap increased demand for properties, premium amenities and facilities. Thus, buying and investing in this new EC is a great way for property owners to take advantage of the town’s potential.

IREUS reported that resale transactions of non-landed private homes continued to decline in July, but at a slower rate compared to June. “Compared to the recent high in March this year, Singaporeans, Singapore residents and foreigners’ purchase of non-landed private homes in the resale market declined by 28.7%, 33.9% and 83.3% respectively,” it mentioned in the report.

In July, foreign buyers purchased 10 units on the resale market – a decrease of 37.5% from June’s 16 units.

Condominium property listings across the country are worth checking out as the Singapore property buying sentiment slides in 1Q2023 due to the high interest rates and cooling measures.

Further, the numbers released in the January NUS SRPI flash estimate indicated that non-landed private residential prices stayed flat for the month. Private housing resale prices, however, increased 1% m-o-m in July according to the NUS SRPI report.

Avalon, a District 10 project, recently hit a record high of $2,436 psf, providing a rare opportunity for buyers to purchase the last few units.