New Condo Property Launch Singapore
The property market is still being very much affected by the government cooling measures since 2013 to stem rapidly increasing home prices. These are working particularly well for the top end of the market. In some prime districts, developers are stablising prices of their properties. However, potential buys remains caution behind a cloud of uncertian economic enviornment. (contd….)
Click Above to view All Launches at City Fringe Singapore
District 03 – Queenstown / Tiong Bahru
District 04 – Sentosa / Telok Blangah
District 05 – Pasir Pangjang / West Coast / Clementi Town
District 06 – High Street / North Bridge Road
District 07 – Rochor / Bugis / Beach Road
District 08 – Little India
District 10 – Bukit Timah / Holland Road / Tanglin District 11 – Newton / Novena
District 12 – Balestier / Toa Payoh / Serangoon / Boon Keng
District 13 – MacPherson / Braddell / Potong Pasir
District 14 – Geylang / Eunos / Paya Lebar
Click Above to view All Launches at East Singapore
District 15 – Katong / Joo Chiat / East Coast
District 16 – Bedok / Upper East Coast
District 17 – Changi / Loyang
District 18 – Tampines / Pasir Ris
(Continued from the top…)
Prices for 2017 is likely to hold well. The investors are holding on to most of the unsold or vacant properties. There is nothing to tip the balance as they are not
highly leveraged due to cooling measures.
There seems to be some pent up demand and new developments have been achieving well during their launch for mid-tier projects, such as Alps Residences and Forest Wood. Some of the developers for the older uncompleted projects have been giving good discounts while maintaining the prices of the residential units. Gone are the days when the developers would conveniently increase their prices after their developments have been sold above 50%.
Overall, the ‘less stubborn’ developers seem to be more realistic with their prices and have been providing incentives now and then. The question is how deep cut can be developers bear for the high end segment, it seem that they have not come to the stage of warranting a deep cut but providing enough cut to catch some buyers.
About 20,000 private residential units will be completed and ready for occupation this year but this figure will taper off from 2017 and beyond. Rental market is likely to continue to be weak and those who intend to be landlord, they have to be practical about their rental rates.
Compared to Asia Pacific Property Market
The prices of most luxury residential markets in Asia Pacific remains stable. There are price growth for Beijing and Manila, while prices in Hong Kong and Singapore are sliding down. With more tightening measures in Shanghai, sales volumes remain low.
Market conditions are not very favourable for the high end markets of Jakarta and Kuala Lumper. Luxury condominium market in Jakarta remain to be challenging with weak buyer sentiment. However sales activity is healthy in Bangkok and Manila.
Vietname is getting to be an interesting market. It is one of the fastest growing market in South East Asia with a young and educated population. Its residential market is expected to grow by 74 per cent over the next three years. The stock of apartments is low. There are strong sales volume in first half of 2016 and prices have risen by 9 percent. Price of premium apartment of US$2,180 per sqm is 24% below the peak in 2007.
Another interesting market is Cambodia, due to strong demand and limited supply, especially in Phnom Penh. A property expert noted that rent for prime residential development in Phnom Penh posted the highest yield of 8% per year. It seems that selling prices remain relatively low but rents are quite high.