{"id":91634,"date":"2018-06-18T10:25:05","date_gmt":"2018-06-18T03:25:05","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-private-home-prices-may-surge-20-this-year-savills\/"},"modified":"2018-06-18T11:02:57","modified_gmt":"2018-06-18T04:02:57","slug":"singapore-private-home-prices-may-surge-20-this-year-savills","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-private-home-prices-may-surge-20-this-year-savills\/","title":{"rendered":"Singapore private home prices may surge 20% this year: Savills"},"content":{"rendered":"


\nOfficial data shows that over 100 private units were sold for at least $3,000 psf in Q1 2018.
\nProperty consultancy Savills reckons that private home prices here may rise 15 to 20 percent for the whole of 2018 \u2013 up from its previous forecast of between 12 and 15 percent, reported Singapore Business Review.
\nIt raised its estimates after 22 units were sold for a minimum of $10 million each over the past few months, with 102 units taken-up for at least $3,000 psf in Q1, according to data from the Urban Redevelopment Authority.
\nMore: Orchard Home Prices May Breach $4,000 Psf Mark
\nMoreover, the island-wide private home price index increased 3.9 percent quarter-on-quarter in Q1. This is the highest growth in nearly eight years since Q2 2010, following lower quarterly gains of 0.7 percent and 0.8 percent in the third and fourth quarters of 2017 respectively.
\nIn particular, luxury condos tracked by Savills posted quarterly price gains of 2.9 percent in Q1. Following a cumulative growth of 5.7 percent over four straight quarters since Q2 2017, the average price of these properties reached $2,383 psf in the first three months of the year, and that amount is only 1.9 percent lower than the recent peak five years ago.
\nOne factor driving the healthy growth in private home prices is that baby boomers are helping their children climb the property ladder, said Alan Cheong, senior director of research and consultancy at Savills Singapore.\u00a0
\n\u201cVisits to show flats leave a discerning observer with the impression that an increasing number of buyers at new launches are funded in part by their parents\u2019 money,\u201d he noted.
\nHome buyers looking for\u00a0Singapore Properties\u00a0may like to visit our\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\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…Singapore private home prices may surge 20% this year: Savills<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Official data shows that over 100 private units were sold for at least $3,000 psf...<\/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-91634","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-nPY","jetpack-related-posts":[{"id":107630,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-sales-inch-up-0-1-in-q1\/","url_meta":{"origin":91634,"position":0},"title":"Private home sales inch up 0.1% in Q1","date":"May 31, 2019","format":false,"excerpt":"\r Overall, 1,838 new private housing units were sold in Q1 2019. With developers ramping up their launches, Singapore saw a total of 2,989 uncompleted private homes launched for sale in the first quarter of 2019, up 80.4 percent from the previous quarter, reported Singapore Business Review citing Savills Research.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":91224,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/increased-activity-in-luxury-condo-market\/","url_meta":{"origin":91634,"position":1},"title":"Increased activity in luxury condo market","date":"June 12, 2018","format":false,"excerpt":"\r View of luxury apartments in Singapore. The luxury private condominium segment has sprung back to life over the past few months, with the price quantum almost hitting a nine-year high when a total of 22 units were snapped up for at least $10 million each during the first quarter,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":115346,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-prices-down-1-2-in-q1-2020\/","url_meta":{"origin":91634,"position":2},"title":"Private home prices down 1.2% in Q1 2020","date":"April 2, 2020","format":false,"excerpt":"\r After rising for three consecutive quarters, Singapore\u2019s private residential property prices fell in the first quarter of 2020, due to the impact of Covid-19 on the economy. Urban Redevelopment Authority\u2019s (URA) flash estimates showed that private home prices fell 1.2% quarter-on-quarter in Q1 2020, \u201cgiving back almost half of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":116043,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sales-of-luxury-condo-rose-72-in-q1-despite-market-uncertainties\/","url_meta":{"origin":91634,"position":3},"title":"Sales of luxury condo rose 72% in Q1 despite market uncertainties","date":"May 4, 2020","format":false,"excerpt":"\r OrangeTee & Tie attributed the stellar sales to the new sale segment where 554 new luxury condominiums were sold in Q1 2020. Singapore\u2019s luxury home segment defied the odds of the current market uncertainties, with sales of non-landed luxury homes surging 72% year-on-year to 965 units in the first\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":92772,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/propertyguru-news-roundup-june-2018\/","url_meta":{"origin":91634,"position":4},"title":"PropertyGuru News Roundup (June 2018)","date":"June 29, 2018","format":false,"excerpt":"\r Our top Singapore property stories. New Zealand: We Don\u2019t Want Foreign Buyers \u2014 Except Singaporeans? The New Zealand government recently announced that Singapore will be a \u201ccarve-out\u201d nation, granting citizens in the Southeast Asian city-state the right to buy property in the archipelago,\u00a0Stuff\u00a0reported. Singapore nationals will join Australians and\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2018\/06\/Dairy-Farm-Road-site.jpg?fit=816%2C461&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":85794,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/luxury-home-prices-in-downtown-singapore-rising-faster-than-other-high-end-districts-report\/","url_meta":{"origin":91634,"position":5},"title":"Luxury home prices in downtown Singapore rising faster than other high-end districts: report","date":"April 18, 2018","format":false,"excerpt":"\r View of historical shophouses and modern skyscrapers in Tanjong Pagar. (Photo: GuocoLand) Prices of luxury apartments in the downtown core, which includes Raffles Place, Marina Bay and Tanjong Pagar are outperforming other high-end districts in Singapore, according to an OrangeTee report. The area comprises districts 1 and 2 and\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\/91634"}],"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=91634"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/91634\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=91634"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=91634"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=91634"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}