Updates from Business Times 15 Aug 14 Developer sales inched up to 484 private homes in July DEVELOPERS residential sales continued to languish last month, show the latest official numbers. Developers sold 484 private homes excluding executive condo (ECs) last month, just two units more than the 482 units they moved in June. In July last year, the figure was also 482 units. The weak sales last month was amid a continuation of a slow launch environment. One of the few new private residential projects released in July, City Gate at the Keypoint site along Beach Road, saw 89 units being sold at a median price of S$1,809 per square foot. The range of prices achieved for the 89 units was S$1,647 psf to S$2,130 psf. 14 Aug 14 H1 subsales come after long holding periods speculation. Most subsales of private apartments and condos in the first half of this year involved relatively long holding periods, according to a study by Ngee Ann Polytechnic. This suggests that the sellers stamp duty (SSD) is effective in curbing speculative residential property deals. Subsales are secondary-market transactions in uncompleted projects. In the high-end segment, nearly all subsale caveats for non-landed private homes lodged for H1 were traced to units that had been bought in 2009 and 2010 and which therefore would not have incurred SSD. There was no caveat for units in Core Central Region (CCR) that had been previously bought in 2012 to 2013. In the mass-market segment, 73 per cent of subsale transactions involved properties that had been bought in 2009 and 2010. Subsales are secondary-market transactions of units in projects that have yet to receive Certificate of Statutory Completion and where the titles for all the units have yet to be issued. They are seen as a gauge of the level of property speculation. 12 Aug 14 July private home resale volume flat. Resale prices fall to 21 month low, SRX data shows [SINGAPORE] Resale volume in the private residential market remained flat last month, even as resale prices fell to a 21-month low, data released yesterday by the Singapore Real Estate Exchange (SRX) showed. Some 431 units changed hands during the month, compared with 427 in June. Year on year, sales have fallen 20.5 per cent; year to date, they are down 46.6 per cent. Resale prices fell 1.3 per cent in July from the previous month, with the decline being broad-based, across all three regions. The high-end condo segment was hardest hit. The city area (core central region or CCR) led the decline with a 4 per cent decrease. Prices in the city fringe (rest of central region or RCR) dipped 1.1 per cent, and those in the suburbs (outside central region or OCR), by 0.6 per cent 08 Aug 14 HDB resale flat prices dip for 6th straight month: SRX Prices slipped 0.9 per cent last month, after a 0.8 per cent dip in June - proof that Junes fall in prices was not due solely to the school holidays and the World Cup distracting buyers from making home purchases, analysts said. They believe larger factors were at play, chiefly the loan curbs in the form of the mortgage servicing ratio (MSR), the total debt servicing ratio (TDSR), and loan tenures being capped at 25 years. Since the beginning of this year, prices have declined 4 per cent. Consultants expect resale prices to fall up to 8 per cent for the whole of 2014, with the government continuing to emphasise that it is still premature to pull back cooling measures. The HDB resale market is expected to take a hit also because a huge supply of new build-to-order flats, as well as balance flats, executive condo units and flats under the design, build and sell scheme (DBSS) are coming onstream. 07 Aug 14 Gross rental yields in uptick for first-half 2014. But this may change, with supply of condo units coming [SINGAPORE] With the recent resale prices of private condos falling at a faster clip than rents, gross rental yields picked up in the first half of this year in all regions across Singapore, after having slid since 2009. Market watchers say that this rebound is likely to be a blip, as the leasing market is softening and vacancy rates are on the rise. It showed gross rental yields in the north-east region recovering to 4.03 per cent in the first half of this year, up from 3.73 per cent last year. Yields for the entire north region inched up to 4.14 per cent from 3.90 per cent last year. The central area recorded the smallest improvement in yields to 3.39 per cent, from 3.37 per cent last year. Topping the list of planning areas are Ang Mo Kio, Yishun and Sembawang in the north, followed by north-eastern areas Sengkang and Hougang. Six planning areas attracted rental yields of 4 per cent or more, including Geylang, which came in sixth. The lowest-yielding areas are the prime locations, including Orchard, Newton, Tanglin, River Valley, the Southern Islands (Sentosa Cove) and Bukit Timah. Homes in the Orchard area attracted the lowest gross rental yield of 2.7 per cent.
Posted on: Tue, 19 Aug 2014 05:41:58 +0000
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