Issue 282

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CONTENTS
p2

FROM THE

EDITOR

Buyers Expect Prices to Fall in the Next 12

Welcome to the 282th edition of the

Singapore Property Weekly.

Months, But Are Optimistic for the Long Term

Hope you like it!

p6

Resale Property Transactions

Mr. Propwise

(October 1 October 7)

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SINGAPORE PROPERTY WEEKLY Issue 282

Buyers Expect Prices to Fall in the Next 12

Months, But Are Optimistic for the Long Term
By Mr. Propwise
iProperty Group Ltd, a leading real estate
portal network in Asia, has released its Asia
Property Market Sentiment Report H2 2016
(APMSR H2 2016). Its 200+ pages full of
data and charts of results from their survey
covering the property markets of Malaysia,
Indonesia, Singapore and Hong Kong. For
this article Ive extracted some of the key
findings on the Singapore market I found
interesting, but if youre interested in all the
details you should check out the report.

Back to Contents

Buyers find property prices unaffordable;

waiting for prices to fall

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SINGAPORE PROPERTY WEEKLY Issue 282

Waiting for property prices to fall was the
top reason and quoted by 46% of buyers as
the key reason holding them back from
purchasing a property. The other highly cited
reasons were a lack of funds and the inability
to get financing.
Property still attractive in the long term,
but most looking to wait a couple of years
before buying

While the overwhelming majority (98%) of

respondents to this survey thought that
Singapore residential property was still a
good long term investment, almost the same
number (97%) thought property prices would
continue to fall in the next 12 months.

Back to Contents

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SINGAPORE PROPERTY WEEKLY Issue 282

Cooling measures should be removed,
but it aint going to happen

As such, most planned to avoid the property

in the near term and instead 60% of
respondents only planned to purchase a
property in two or more years time. This does
not bode well for transaction volumes over
the next couple of years.

Back to Contents

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SINGAPORE PROPERTY WEEKLY Issue 282

weakness in the property market, with a price
drop of at least another 10 to 15 percent
necessary before the government has a
change of heart.
Wait and see

While the majority of survey respondents

(60%) thought that the Additional Buyers
Stamp Duty should be removed for locals,
almost the same number (62%) thought it
would not be relaxed for at least the next 24
months.

To conclude, based on the survey results,

most buyers are still in a wait and see
attitude, looking for property prices to go
down further before deciding to make a move.
This tends to create a self-fulfilling prophecy
as transaction volumes dry up and the more
desperate buyers being forced to lower prices
to get their unit sold, pushing prices down
further.
Itll be an interesting 24 months ahead.

Personally, I think the cooling measures will

only be relaxed when there is a prolonged

Back to Contents

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SINGAPORE PROPERTY WEEKLY Issue 282

Non-Landed Residential Resale Property Transactions for the Week of Oct 1 Oct 7
Postal
District
11
12
12
12
12
12
13
14
14
14
14
14
14
15
15
15
15
15
15
15
15
15
15
15

Project Name
THOMSON 800
THE RIVERINE BY THE PARK
CASA FORTUNA
REGENT RESIDENCES
TREVISTA
KEMAMAN POINT
ONE LEICESTER
THE WATER EDGE
SMART SUITES
DAKOTA RESIDENCES
ASTOR
ASTON MANSIONS
PALM LODGE
THE MEYERISE
ONE AMBER
38 I SUITES
THE SEA VIEW
THE SEAFRONT ON MEYER
THE SEA VIEW
ONE AMBER
EVERITT EDGE
SANDALWOOD
DAWN VILLE
GRAND DUCHESS AT ST PATRICK'S

Back to Contents

Area
(sqft)
1,399
1,776
506
689
926
1,292
1,055
517
484
1,894
1,098
1,012
1,238
883
570
506
1,518
1,604
1,216
1,259
431
872
1,206
2,573

Transacted
Price ($)
1,680,000
2,590,000
728,000
925,000
1,235,000
1,310,000
1,188,000
738,000
670,000
2,560,000
908,000
828,000
970,000
1,681,000
930,000
800,000
2,400,000
2,483,500
1,820,000
1,780,000
570,000
1,080,000
1,360,000
2,850,000

Price
Tenure
($ psf)
1,201 FH
1,458 FH
1,439 FH
1,343 FH
1,334 99
1,014 FH
1,126 FH
1,428 FH
1,383 FH
1,351 99
827
99
818
99
784
FH
1,904 FH
1,630 FH
1,581 FH
1,581 FH
1,548 FH
1,496 FH
1,413 FH
1,324 FH
1,239 FH
1,128 FH
1,108 FH

Postal
District
1
3
4
7
8
8
8
9
9
9
9
9
9
10
10
10
10
10
10
10
10
10
10
10

Project Name
THE SAIL @ MARINA BAY
MERAPRIME
THE INTERLACE
SUNSHINE PLAZA
LE SOMME
SUITES 123
KERRISDALE
OUE TWIN PEAKS
OUE TWIN PEAKS
VIVACE
ORCHARD TOWERS
THE BOUTIQ
N.A.
NASSIM PARK RESIDENCES
LEEDON RESIDENCE
ORION
ZENITH
HOLLAND MEWS
ONE JERVOIS
CHELSEA GARDENS
THE LEVELZ
FONTANA HEIGHTS
CLIFTEN
WATERFALL GARDENS

Area
(sqft)
1,184
1,173
1,604
764
495
581
990
570
1,604
398
1,970
2,293
1,550
6,878
1,044
1,507
743
1,249
1,324
2,508
807
3,466
1,184
2,196

Transacted
Price ($)
2,070,000
1,460,000
1,778,000
992,000
685,000
755,000
1,035,000
1,600,000
4,016,817
820,000
2,680,000
2,600,000
1,550,000
21,200,000
2,400,000
3,050,000
1,300,000
1,950,000
2,050,000
3,800,000
1,180,000
5,000,000
1,680,000
2,930,000

Price
Tenure
($ psf)
1,748 99
1,244 99
1,109 99
1,298 99
1,383 FH
1,299 FH
1,045 99
2,805 99
2,505 99
2,059 999
1,361 FH
1,134 FH
1,000 FH
3,082 FH
2,299 FH
2,024 FH
1,750 999
1,562 FH
1,548 FH
1,515 FH
1,462 FH
1,443 FH
1,419 FH
1,334 FH

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SINGAPORE PROPERTY WEEKLY Issue 282

Postal
District
15
15
15
16
16
16
17
18
18
18
18
18
19
19
19
19
19
19
19
19
19
20
20
21
21
21
21

Project Name
PEBBLE BAY
FERNWOOD TOWERS
KATONG PARK TOWERS
WATERFRONT WAVES
LAGUNA GREEN
TANAMERA CREST
EDELWEISS PARK CONDOMINIUM
RIPPLE BAY
SEA ESTA
NV RESIDENCES
CHANGI RISE CONDOMINIUM
THE TROPICA
SANCTUARY @ 813
KOVAN MELODY
THE MINTON
CHERRYHILL
THE QUARTZ
A TREASURE TROVE
THE QUARTZ
CHILTERN PARK
RIVERVALE CREST
SEASONS VIEW
BISHAN PARK CONDOMINIUM
THE STERLING
THE NEXUS
TERRENE AT BUKIT TIMAH
SPRINGDALE CONDOMINIUM

Back to Contents

Area
(sqft)
1,819
1,195
1,507
1,281
1,141
1,195
2,465
775
980
1,109
1,259
1,195
527
1,259
1,216
1,044
1,044
1,206
1,195
1,475
1,173
1,141
1,270
1,292
1,066
1,184
1,163

Transacted
Price ($)
2,000,000
1,300,000
1,280,000
1,338,000
1,180,000
983,000
1,650,000
788,000
988,000
1,000,000
1,040,000
968,000
610,000
1,350,000
1,300,000
1,050,000
945,000
1,066,000
1,050,000
1,180,000
860,000
1,180,000
1,078,000
2,000,000
1,450,000
1,600,000
1,120,000

Price
Tenure
($ psf)
1,099 99
1,088 FH
849
99
1,045 99
1,034 99
823
99
669
FH
1,017 99
1,009 99
902
99
826
99
810
99
1,157 FH
1,072 99
1,069 99
1,006 FH
905
99
884
99
879
99
800
99
733
99
1,034 99
849
99
1,548 FH
1,361 FH
1,351 999
963
999

Postal
District
22
23
23
23
23
25

Project Name
THE CENTRIS
HILLVIEW REGENCY
YEWTEE RESIDENCES
PALM GARDENS
PALM GARDENS
PARC ROSEWOOD

Area
(sqft)
1,507
904
1,453
1,345
1,206
431

Transacted
Price ($)
1,650,000
818,000
1,230,000
972,000
730,000
527,000

Price
Tenure
($ psf)
1,095 99
905
99
846
99
722
99
606
99
1,224 99

NOTE: This data only covers non-landed residential resale property

transactions with caveats lodged with the Singapore Land Authority.
Typically, caveats are lodged at least 2-3 weeks after a purchaser
signs an OTP, hence the lagged nature of the data.

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SINGAPORE PROPERTY WEEKLY Issue 282

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