Archive for category: Misc

CDL is no stranger to successful EC site acquisitions, and with this bid for Lumina Grand EC, they are positioning itself as a leader in the EC segment. The team is confident that the development will be profitable and that its residents will see positive returns in the near future. Given the prime location, those residing in this development will enjoy easy access to the Mall and the many commercial and residential amenities nearby.

The Institute of Real Estate and Urban Studies (IREUS) has released its Singapore Residential Price Index (SRPI) for the month of July, revealing that prices of private non-landed residential properties in Singapore have grown by 1% m-o-m.

The flash estimates of the SRPI, which measures price movements of such properties, are based on a basket of 759 projects completed between October 2003 and September 2021.

When broken down into the Central and non-Central Regions, the sub-index for the Central Region (excluding small units) was 1.2% higher m-o-m in July, while non-Central Region (excluding small units) saw a 1% increase. The sub-index for small units, however, rose by a modest 0.2% over the same period.

For the month of June, the overall index was later revised to indicate a 0.6% m-o-m decrease – a slightly narrower decline compared to the initial flash estimate of 0.7%. Both Central and non-Central Regions (excluding small units) were adjusted to show a fall of 1.2% and 0.3% m-o-m, respectively. As for small units, the sub-index was adjusted to reflect a 0.4% decline m-o-m, earlier flash estimates suggesting a 0.6% fall.

IREUS’ report also highlights the buyer profile in the non-landed private home resale market over the past 12 months. Singaporeans accounted for 74.3% of transactions, Singapore permanent residents represented 21.4% and foreigners made up about 4%.

The number of non-landed private homes purchased by foreigners in the resale market in July declined 37.5% from the figure in June – 10 units versus 16 units. Compared to the record high of resale transactions in March, the number of non-landed private homes purchased by Singaporeans, Singapore residents and foreigners in the resale market plummeted by 28.7%, 33.9% and 83.3% respectively.

This latest update by IREUS shows that the demand for non-landed residential properties in Singapore continues to remain stable – despite high interest rates and cooling measures. Non-landed private residential prices stay flat in January, while the resale prices went up 1% m-o-m in July.

Those looking to buy condominiums should keep a close eye on the latest listings, for a rare opportunity of getting their hands on the last units of District 10 project Leedon Green as it nears its completion. With strong demand from investors and buyers alike, the market for residential properties still appears to be on an upward trajectory.