Singapore Property Buyer And Investor Viewpoint For July 2010

Singapore Property Buyer and Investor Viewpoint for July 2010

The market dramatically increased from June to September 2009. In a matter of three months, the market prices for property in Singapore crazily went up. The landed property price reached 175.0 while the non-landed property reached as high as 174.5 during the first quarter of 2010 (URA price index 1st Quarter 2010). The landed property increased about 8.3% during the 4th quarter of 2009 to the 1st quarter of 2010. During this period, the prices of the condominiums also rose to another 5.7%.

Presently, the Aspen Heights properties already demonstrated a high $1,600 psf hits while the Leonie Studios showed an interesting increase of hits from $1,600 to a $1,700 psf. The other companies also showed significant increased of hits such as the 76 Shenton for $2,100 psf, the Waterfall Garden for $1,730 psf, and the Cyan for $2,400 psf. The company Ardmore Park reached to $2,500 psf while the Ardmore II reached $3,000 psf hits. There are also plenty of the developments that are in the mass market category such as the waterina that went to as high as $1,000 psf from the previous $900. The mass market condominiums are fast approaching to the $1,000 psf hits level. Another mass market entity is the Atrium Residences, which is fast closing in on to $800 psf hits from the previous $700 psf hits.

Effects on Share market

Although the share market was somewhat slow last year, it recovered about 3,000 points on the Straits Times index. The share market normally leads the property market by 3 to 6 months. The only thing that makes predicting the share market trend difficult is when there is an undersupply of HDB flats. The movement of HDB flats directly affects price value. Any undersupply of HDB flats supports price increase. At this time, HBD flats showed an undersupply trend, which makes predicting of the share market a little bit difficult.

The companies with foreign investors regardless of the industry were the least affected in Singapore during the 2008 and 2009 recession in terms of retrenchment and job losses than the local companies (Ministry of Manpower). The flow of foreign investment recovered quickly when the expatriates returned and continued their business operations in Singapore. The recovery of jobs paved way to the recovery of businesses in the sectors of apartment rentals, property rentals, and the middle to high-end property market prices.

by: Shirley Tan

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