Urban Redevelopment Authority (URA)

Singapore July private home sales drop 32% on year

SINGAPORE (Aug 15): Sales of private homes by developers in Singapore dived 31.2% in July from a year earlier, government data showed on Thursday.

Data compiled by the Urban Redevelopment Authority showed developers sold 1,178 units last month, compared with 1,724 units in the year-ago period.

However, sales surged 43.5% from the 821 units sold in June.


Singapore 2Q private home prices up for first time since curbs rolled out

SINGAPORE (July 26): Singapore’s private residential price index increased for the first time since property cooling measures were introduced last July, according to 2Q19 real estate statistics released by the Urban Redevelopment Authority (URA) on Friday morning.

The private residential price index was 1.5% higher this quarter, compared to a 0.7% drop in the previous quarter and exceeding earlier flash estimate of 1.3%.

This was boosted by non-landed properties increasing by 2.0% q-o-q, but partially offset by a 0.1% decrease in landed property prices.

Property sector kept at 'overweight' by CGS-CIMB as monthly home sales volume picks up in May

SINGAPORE (June 19): CGS-CIMB Research is maintaining the Singapore property sector at “overweight” following a 28% month-on-month increase in home sales volume in May.

Some 952 new private housing units were sold in May, 28% higher than in April, but 15% lower compared to May 2018. The bulk of sales (51%) came from Rest of Central Region, while suburban projects made up another 43%. The most popular developments included Amber Park, Parc Komo and The Woodleigh Residences, which collectively accounted for one third of sales.

URA releases 2H19 GLS Programme with 5 confirmed list sites, 8 reserve list sites

SINGAPORE (June 6): The Urban Redevelopment Authority (URA) today released the 2H19 Government Land Sales (GLS) Programme, comprising five confirmed list sites and eight reserve list sites.

The five confirm list sites – Bartley Road/Jalan Bunga Rampai, Irwell Bank Road, Canberra Drive Parcel A and B, as well as Fernvale Lane – are private residential sites, including one executive condominium (EC) site (Fernvale Lane), yielding about 1,715 private residential units.

Singapore 1Q private housing price index dip q-o-q for second straight quarter in flash estimates

SINGAPORE (Apr 1): Singapore’s private residential property price index decreased by 0.9 percentage points to 148.7 points in 1Q19 from 149.6 points in 4Q18.

This was according to flash estimates by the Urban Redevelopment Authority (URA).

Prices of non-landed private residential properties decreased by 2.9% in Core Central Region (CCR), compared to the 1.0% decrease in the previous quarter.

Singapore to have more CBD living, go underground to free space

SINGAPORE (Mar 27): The garden city of Singapore wants to be even more green. It also wants more homes in its central business district, and plans to move facilities underground to free up living space.

As part of the plan to rejuvenate Singapore’s central area, a variety of homes and amenities in areas such as downtown, Marina South and Rochor will be planned so more people can live near workplaces, the city-state’s Urban Redevelopment Authority unveiled in a draft master plan Wednesday.

Singapore Jan private home sales fall 17.8% on year

SINGAPORE Feb 15 (Reuters): Sales of private homes by developers in Singapore fell 17.8% in January from a year earlier, government data showed on Friday.

Data compiled by the Urban Redevelopment Authority showed developers sold 433 units last month, compared with 527 units in Åthe same month a year earlier.

The level of sales in January fell from 602 units sold in December.

Worldwide Hotel Group unit places record bid for rare hotel site after cooling measures

Editor's note: We have corrected an earlier version of Bloomberg's story to say Midtown Development is a subsidiary of Worldwide Hotel Group, and not Oxley as previously stated

(Jan 16): A rare plot of land that’s zoned for a hotel near Singapore’s central business district has attracted a record bid as developers shift focus after last year’s property cooling measures.

Few bright spots in sight for local residential sector in near term, says OCBC

SINGAPORE (Jan 3): OCBC Investment Research is maintaining “neutral” on the local residential sector after Singapore home prices posted their first decline in six quarters, according to recent Urban Redevelopment Authority (URA) flash estimates.

The research house continues to project a private residential price growth range of -3% to +2% for 2019, while also maintaining its forecast for 10,000 to 12,000 private sales transactions.

Singapore shoe-box rule may cheer home buyers, not home builders

(Oct 24): Putting an end to “shoe-box sized” apartments in Singapore may be reason for residents to cheer but for developers, it could prove a double whammy.

Already hit in July by cooling measures that make it more expensive to buy and redevelop older apartment blocks, home builders have now been told there’s a cap on the number of units allowed in any one project. While the move is aimed at stopping ever-smaller dwellings, for developers it may necessitate a pricing rethink that could dent profitability.

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