Homeseekers - Wesley Ong

Prices of private homes in Singapore rose at a quicker pace of 3.5 per cent in the second quarter of this year, five times the 0.7 per cent increase in the previous quarter.

Singapore's private home prices rise by 3.5% in Q2, five times the increase in previous quarter Show flat and house viewings increased substantially after COVID-19 safe management measures were eased in April, says an analyst.

The majority of people surveyed are willing to increase their housing budget for a home with good connectivity and convenience. This was one of the main findings from the recently concluded EdgeProp survey on this increasingly relevant subject. The result is not surprising, given the rising cost of car ownership with recent COE (Certificate of Entitlement) exceeding $100,000. As a result, many are revisiting the tradeoffs between car ownership and living in a place with easy transportation access as a more sustainable and affordable option.

More willing to pay for connectivity and convenience: Survey 1 in 4 willing to increase their housing budget by more than 10% for a development with direct MRT access.

Private home prices in Singapore increased by 3.5% in 2Q2022, according to URA. This was slightly higher than the flash estimate of 3.2% released on July 1. The 3.5% q-o-q increase is significantly higher than 1Q2022’s 0.7% increase, according to URA data released on July 22. This brings the overall private home price increase to 4.2% in 1H2022.

Growth in private home prices accelerated by 3.5% in 2Q2022 Private residential price uplift in 2Q2022 driven mainly by two new project launches, Piccadilly Grand and Liv @ MB. Will Amo Residence be the ammunition for price growth in 3Q2022?

Two of the most profitable deals over the week of June 14 to 21 were for units transacted at Oleanas Residence, located in the River Valley area in District 9.

Unit at Oleanas Residence reaps $1.9 mil profit The unit, which sold for $3.1 million on June 14, had been purchased by the seller for $1.2 million in May 1999.

The worst will be over for the retail property market after Q2, according to Knight Frank, adding that retail rentals have already bottomed out.

Retail property market to see broad-based recovery after Q2 ​​​​​​​The worst will be over for the retail property market after Q2, according to Knight Frank, adding that retail rentals have already bottomed out.

New launches underpinned a surge in private homes transacted in Singapore in 2Q2022, according to a report by Knight Frank. Sales of non-landed private homes excluding executive condominiums (ECs) totalled 5,844 units in 2Q2022, surging 25.9% q-o-q.

New launches in 2Q2022 break private residential market out of stalemate: Knight Frank Sales of non-landed private homes excluding executive condominiums surged 25.9% q-o-q in 2Q2022.