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Singapore's property price index continues to rise in the 3rd quarter of 2019 and according to URA's flash estimate, Q3 property index is up by 0.9%, compared to a 1.5% increase in Q2.
Below are some statistics for Q3 2019:
Lured by Singapore's stable political environment and relatively strong office rentals, Hong Kong investors pumped a total of US$1.4 billion (S$1.94 billion) into the Republic's real estate in the first half of 2019. This accounted for more than a quarter of the US$5.2 billion in total outbound real estate investment from Hong Kong during the period, making Singapore the top destination as they view Singapore as a comparatively safe haven given the challenges that their countries are facing.
Below are some statistics for Q3 2019:
- Overall Property Price Index: +0.9%
- Year-on-Year: +1.7%
- Landed houses: -2.2%
- Non-landed: +1.7%
- Core Central Region (CCR): +2.9%
- Rest of Central Region (RCR): +1.7%
- Out of Central Region (OCR): +0.7%
Lured by Singapore's stable political environment and relatively strong office rentals, Hong Kong investors pumped a total of US$1.4 billion (S$1.94 billion) into the Republic's real estate in the first half of 2019. This accounted for more than a quarter of the US$5.2 billion in total outbound real estate investment from Hong Kong during the period, making Singapore the top destination as they view Singapore as a comparatively safe haven given the challenges that their countries are facing.
One Pearl Bank is a rare condo located on a beautiful forest hilltop in prime central area of Singapore, at Outram-Chinatown District developed by reputable developer - Capitaland with a Hygge lifestyle concept
In the first eight months of 2019, 68 condo units in Singapore were sold for S$10 million and more, touching a record high since the corresponding period of 2008, according to property consultants OrangeTee & Tie. Sales of such apartments also exceeded the numbers racked up for each full year from 2011 to 2018, the consultants' analysis of transaction data showed.
Some buyers may have sought an alternative to financial hub Hong Kong due to ongoing protests, while others may have shifted funds from China after its yuan currency was devalued.
In Singapore's prime districts, Chinese citizens bought 76 apartments worth more than S$5 million in the period from January to August, versus 75 purchases by Singaporeans, data until Sept 19 showed. Expensive apartments in premium neighborhoods are mainly bought by foreigners because at such high prices Singaporeans have the option to buy landed property.
Sales of Singapore apartments worth at least S$10 million have hit an 11-year high this year even though the government had in July 2018 last year adopted further measures to cool its real estate market such as hiking additional stamp duties for foreign buyers to a whopping 20 percent from 15 percent. Foreigners agree that Singapore properties are more attractively priced than in their own cities.
Some buyers may have sought an alternative to financial hub Hong Kong due to ongoing protests, while others may have shifted funds from China after its yuan currency was devalued.
In Singapore's prime districts, Chinese citizens bought 76 apartments worth more than S$5 million in the period from January to August, versus 75 purchases by Singaporeans, data until Sept 19 showed. Expensive apartments in premium neighborhoods are mainly bought by foreigners because at such high prices Singaporeans have the option to buy landed property.
Sales of Singapore apartments worth at least S$10 million have hit an 11-year high this year even though the government had in July 2018 last year adopted further measures to cool its real estate market such as hiking additional stamp duties for foreign buyers to a whopping 20 percent from 15 percent. Foreigners agree that Singapore properties are more attractively priced than in their own cities.
Sengkang Grand Residences is a new upcoming condo right next to Buangkok MRT offering unparalleled connectivity and convenience by two reputable developers - CDL & Capitaland (mall management)
Below are some latest or upcoming new launches for sale soon (click on the project names to visit their various websites):
Avenue South Residence is a modern luxury condo in central region near Greater Southern Waterfront by UOL
Below are some new launch condo projects that may be increasing their prices soon (click on the project names to visit their various websites):
Huttons Asia's real estate advisor Kiwi Lim believe that Singapore's healthy population growth, rising household income, positive clear long term infrastructure plans of government and a strong desire of young Singaporeans to own their own homes will remain key drivers for both home prices and demand over the long term. Even with the current economic uncertainties globally, Kiwi Lim believes that Singapore will remain a very attractive safe investment haven for foreign investors as well as possessing an ideal environment for family or own stay.
Huttons Asia's real estate advisor Kiwi Lim believe that Singapore's healthy population growth, rising household income, positive clear long term infrastructure plans of government and a strong desire of young Singaporeans to own their own homes will remain key drivers for both home prices and demand over the long term. Even with the current economic uncertainties globally, Kiwi Lim believes that Singapore will remain a very attractive safe investment haven for foreign investors as well as possessing an ideal environment for family or own stay.
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