\nHome sales in the Core Central Region are up 42.6 percent from 2015.<\/p>\n
Despite the continued drop in private home prices, Singapore\u2019s property market has showed signs of life, with a rejuvenated collective sales market and robust luxury residential sales, reported The New Paper.
Home sales in the Core Central Region are up 42.6 percent from 2015. Despite the...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-38699","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-a4b","jetpack-related-posts":[{"id":87773,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/occupancy-rate-of-high-end-homes-down\/","url_meta":{"origin":38699,"position":0},"title":"Occupancy rate of high-end homes down","date":"May 11, 2018","format":false,"excerpt":"\r View of high-end homes in Singapore. Despite the positive sentiment in the residential market, the occupancy rate in the high-end residential segment hit an almost three-year low, falling marginally by 0.4 percentage points to 88.4 percent in the first quarter of 2018, reported Singapore Business Review citing OrangeTee &\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":51797,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/luxury-london-home-buyers-turn-to-marylebone\/","url_meta":{"origin":38699,"position":1},"title":"Luxury London home buyers turn to Marylebone","date":"April 13, 2017","format":false,"excerpt":"\r While the more traditional high-end London property areas such as Knightsbridge and Chelsea have seen prices stagnate or fall over the past 12 months, a relatively new kid on the block has taken top slot as best performer in prime central London (PCL) homes - and buyers from the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/img.youtube.com\/vi\/Bsbb3yxXzW0\/0.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":108862,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/luxury-home-sales-fell-33-8-in-1h2019\/","url_meta":{"origin":38699,"position":2},"title":"Luxury Home Sales Fell 33.8% in 1H2019","date":"July 10, 2019","format":false,"excerpt":"\r Sales of high-end private landed homes above $5 million slowed, falling 33.8 percent to $1 billion in the first half of 2019 from the previous period, revealed a Knight Frank report. On an annual basis, sales of such homes declined 53.51 percent. URA flash estimates showed that the landed\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":10092,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-luxury-residential-market-faces-test-on-weekend-as-developers-cut-prices-to-push-sales\/","url_meta":{"origin":38699,"position":3},"title":"Hong Kong luxury residential market faces test on weekend as developers cut prices to push sales","date":"April 6, 2016","format":false,"excerpt":"\r Hong Kong\u2019s luxury residential property market will face a real test this weekend when Kerry Properties starts selling its Mantin Heights in Ho Man Tin in the face of a rising number of defaults and price cuts by rival developments in the area.\r \r Source : South China Morning\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":60070,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/luxury-home-prices-on-the-upswing\/","url_meta":{"origin":38699,"position":4},"title":"Luxury home prices on the upswing","date":"July 7, 2017","format":false,"excerpt":"\r Image: Martin Modern (Christopher Chitty) While it has taken a beating from the government\u2019s property cooling measures in recent years, luxury home prices in Singapore are now showing signs of recovery, reported Bloomberg. In fact, luxury home sales had been on the upswing even before some of the cooling\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":111275,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-prices-increase-0-9-in-q3\/","url_meta":{"origin":38699,"position":5},"title":"Private home prices increase 0.9% in Q3","date":"October 2, 2019","format":false,"excerpt":"\r Prices in the core central region (CCR) and rest of central region (RCR) climbed 2.9 percent and 1.6 percent, respectively. Outside central region (OCR) prices inched up by 0.7 percent in Q3 2019. Private home prices in Singapore rose for the second consecutive quarter in the third quarter of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/38699"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=38699"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/38699\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=38699"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=38699"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=38699"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nData from the Urban Redevelopment Authority (URA) showed that private home prices fell by 10.8 percent over 12 consecutive quarters, while rents dropped by 10.7 percent.
\nNonetheless, the sales volume for the first nine months of 2016 increased by 9.8 percent year-on-year to 11,993 private units (excluding executive condominiums).
\nIn fact, the falling prices have helped boost the luxury residential segment.
\nAs at 15 December, the Core Central Region (CCR), which includes Orchard, Bukit Timah and Novena, registered 2,601 private home transactions, up 42.6 percent from last year, revealed Savills Singapore Research Head Alan Cheong.
\n\u201cThis shows there has been a strong revival of interest in the luxury segment of the private residential market,\u201d he said.
\nCheong attributed the revival to developers\u2019 creative marketing schemes, like the deferred payment scheme offered at OUE Twin Peaks.
\nAnother bright spot is the return of collective sales. Three deals worth over $1 billion were sealed this year, compared to one $380 million deal in 2015 and none in 2014.
\nThe $638 million sale of Shunfu Ville to Chinese developer Qingjian Realty emerged as the biggest en bloc sale of the year.
\nEdmund Tie and Co. Research Head Dr Lee Nai Jia is confident more sales will be sealed in 2017.
\n\u201cThis is because sellers have dropped asking prices, while developers are keen on well-located smaller sites,\u201d he said.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Falling home prices a boon for luxury market<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"