Condo, HDB rents rise in February; leasing volume dips SINGAPORE - The rental prices for Housing Board flats and private apartments continued to rise last month, while leasing volume in both markets dipped. Condominium rents last month climbed by 1.4%, while HDB rents rose by 1.7%, according to flash figures from real estate portals 99.co and SRX released on Wednesday (March 16). This marks the 14th...

GuocoLand to develop second condo, third retail cluster at Guoco Midtown mega project GUOCOLAND is expanding its multi-billion-dollar integrated development on Beach Road, Guoco Midtown, to include a second luxury residential project named Midtown Modern. The condomininum will consist of two 30-storey towers with more than 500 apartments in a forest garden setting, as well as a retail...

Close to 10% of Singapore mortgages, or over S$15b, under debt moratorium THE 3 local banks in Singapore are estimated to have granted payment deferments to more than S$15 billion worth of mortgages as at the end of June this year. All in, the total value of deferred mortgages in Singapore make up almost 10% of all outstanding mortgages. This comes as the S$15-billion worth of deferred...

Singapore private home prices rise 0.3% in Q2 in turn-around from flash estimate DESPITE the ongoing pandemic, private residential prices in Singapore went up by 0.3% in the second quarter, marking a reversal from a flash estimate in early July which had the private residential property index falling by 1.1%. The 0.3% figure comes after a 1% decline in Q1, according to the latest report from the...

1.1% drop in URA's Q2 private home price index 'mild', say analysts THE Urban Redevelopment Authority's benchmark overall private home price index fell for the 2nd consecutive quarter. It eased 1.1% quarter-on-quarter (q-o-q) in Q2 2020 based on the flash estimate issued on Wednesday, after slipping 1.0% in Q1 2020. Suburban non-landed private home prices remained unchanged in the April to June...

URA releases flash estimate of 2nd Quarter 2020 private residential property price index The Urban Redevelopment Authority (URA) released the flash estimate of the price index for private residential property for 2nd Quarter 2020 today. Overall, the private residential property index decreased by 1.7 points from 152.1 points in 2020 Q1 to 150.4 points in 2020 Q2. This represents a decrease of...

Showflat reopening a relief for developers, but new launches unlikely till July DEVELOPERS will get some reprieve this week after getting the green light to reopen sales galleries for residential projects starting Friday, although new launches aren't expected to make their debut just yet. Launches are more likely to take place from July as developers will need time to roll out marketing activities...

Temporary relief measures to also cover purchases of new homes: MinLaw PROPERTY buyers are now also given cover under the temporary relief measures from legal action as a result of Covid-19. On Wednesday, the Ministry of Law (MinLaw) said the Covid-19 (Temporary Measures) Act which provides temporary relief to those unable to fulfil contractual obligations as a result of Covid-19 will now also...

URA seeks marketing consultancy for strategic review of Jurong Lake District to draw businesses One of the aims is to change perceptions among developers, investors, businesses of Jurong as a mainly industrial town. How Jurong is perceived is a mental block that needs to be overcome, says Alan Cheong of Savills Singapore, otherwise firms mulling a relocation to the West may face a more...

Release of 1st Quarter 2020 real estate statistics The Urban Redevelopment Authority (URA) released today the real estate statistics for 1st Quarter 20201. PRIVATE RESIDENTIAL PROPERTIES Private residential market at a glance: *Figures exclude Executive Condominium (ECs) Prices and Rentals Prices of private residential properties decreased by 1.0% in 1st Quarter 2020, compared with the...