Singapore - Housing 18 (Apr 19 - Dec 25)

[behappyalways]

Developers lose pricing power after en bloc fever

https://sbr.com.sg/residential-property ... bloc-fever

[behappyalways]

The Woodleigh Residences lowers launch price to $1,733 psf
https://www.edgeprop.sg/property-news/w ... e-1733-psf

[behappyalways]

Sales of private new homes dip 30.3% m-o-m to 735 in April
https://www.edgeprop.sg/property-news/s ... -735-april

[behappyalways]

Corner HDB shophouse in Bishan going for $17m
https://www.edgeprop.sg/property-news/c ... -going-17m

[winston]

Singapore Has 24,000 Empty Apartments (And Another 44,000 Being Built)

By Katrina Nicholas

There are 24,000 vacant apartments.

There are another 44,000 units in the pipeline, including 39,000 unsold apartments from government land sales and en-bloc sites, and 5,000 units from sites that are pending planning approval.

The supply of private housing in the second half, excluding executive condominiums, will be 1,235 units, down 25% from 1,640 units in the first six months.

Source: Bloomberg

https://www.bloomberg.com/news/articles ... oversupply

[behappyalways]

New home sales up 29.5% m-o-m in May: URA
https://www.edgeprop.sg/property-news/n ... -m-may-ura

[winston]

Singapore Residential Property: Resilient prices but challenges remain

URA’s flash estimate for the private residential property price index (PPI) showed an increase of 1.3% on a QoQ basis for 2Q19.

This not only marked a reversal following two straight quarters of decline, but all segments registered positive growth.

The uptick in 2Q19 has resulted in overall PPI growth of 0.6% YTD. Notwithstanding the positive price momentum, we believe it may be too early to call for a bottom, as the operating environment remains challenging.

Overall housing and bridging loans remain soft, while there are also concerns over rising unsold inventory levels which are above historical average levels.

We maintain our private residential price growth forecast of -3% to +2% for 2019, but pare our primary transactions volume projection to 8k-10k from 10k-12k as the number of new launches this year may not pan out as aggressively as previously expected.

Maintain NEUTRAL on the Singapore residential sector, with UOL Group (UOL SP) [FV: S$8.50] and CapitaLand (CAPL SP) [FV: S$4.04] as our preferred sector picks.

Source: OCBC

[behappyalways]

Chart of the Day: Unsold residential inventory hit 37,800 units in Q1
https://sbr.com.sg/residential-property ... nits-in-q1

[behappyalways]

Tender closing for residential site at Clementi Avenue 1
https://www.ura.gov.sg/-/media/Corporat ... 19-29a.pdf


Provisional Tender Results for Land Parcel at Canberra Link for Executive Condominium Housing Development
https://www.hdb.gov.sg/cs/infoweb/press ... t-Canberra

[winston]

Dyson Billionaire Buys US$54 Million Singapore Penthouse, Setting New Record

By Katrina Nicholas

Last month, another top-floor apartment at Boulevard Vue, an ultra-luxury condo located just off Singapore’s prime Orchard Road shopping district, went for S$52 million.

Dyson’s purchase also topped the nearly S$60 million paid by Facebook Inc. co-founder Eduardo Saverin for a penthouse in 2017.

Occupying the top floors of Singapore’s tallest building, the Wallich Residence super penthouse overlooks the central business district and the city’s historical shop houses. Spread out from levels 62 to 64, the dwelling was recently listed for sale at S$108 million. It comes with its own infinity pool, jacuzzi, BBQ pit and private lift lobby from the basement car park.

Source: Bloomberg

https://www.bloomberg.com/news/articles ... use-record