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Highest spike in private property prices since 2014

ginfreely

ginfreely

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The flash estimates are compiled based on transaction prices given in contracts submitted for stamp duty payment, and data on units sold by developers up till mid-June. The statistics will be updated on July 27.

Ms Christine Li, senior director of research at Cushman & Wakefield Singapore, noted that prices are now only 3.6 per cent below the last peak in 2013. "The sentiment is inching us towards another peak. Singapore property prices are likely to recover to the 2013 peak levels in one or two quarters," she said.

She added that the strong recovery in the residential prices could be attributed to the strong liquidity in the market, with sellers who sold their units during the en bloc frenzy entering the market. "The recycling of capital is pushing up the prices now," Ms Li added.

https://www.todayonline.com/singapo...ly 2, 2018 (ACTIVE)_newsletter_02072018_today
 
Nevertheless, analysts are expecting prices to continue rising for the second half of this year, on the back of an improving economy among other factors.

Ms Song said she has revised her 2018 forecast for private home prices to increase by 12 per cent, up from an initial forecast of 8 per cent. Other analysts were more bullish, with Mr Sim expecting prices to increase by 12 to 15 per cent for the year and Century 21 executive director C S Chong predicting prices to go up by slightly above 15 per cent.
 
https://asia.nikkei.com/Business/Ma...ch-buyers-drive-Singapore-private-home-prices

Collective sales boost demand for property because the sellers would have to find new homes soon after the deal is concluded, while the redeveloped complex will only hit the market three or four years later.

In a report on Monday, real-estate services firm CBRE said there were 15 such collective sales of residential sites in the second quarter of 2018, bringing the half-year tally to 32 deals worth 9.7 billion Singapore dollars ($7.1 billion). This is already above last year's total of 26 deals worth S$8.1 billion.

Ismail Gafoor, executive chairman of PropNex, Singapore's largest real-estate agency, said the residential market has also received a boost from foreign buyers, who've returned despite the additional stamp duties that could increase their purchase prices by 5-15%.

According to analysts, Chinese buyers find Singapore relatively inexpensive compared to Hong Kong and large Chinese cities like Shanghai, where prices have continued to rise in recent years.
 
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