Recent property development in Singapore

Downloaded from: justpaste.it/1jdvtRecent property development in SingaporeThe latest news from the property market in Singapore idicates a steady growth and a better scope for realestate agents to earn better revenue from the market. According to the recent findings for property sales theunits sold till now was double that of the number of newly launched property for February, which was 186units. As per the data published by URA ( Urban Redevelopment Authority) the top seller for the month ofFebruary was sold in Queens Peak, 47 units located at Dundee Road at a median price of S$1,730 per squarefoot followed by 34 units sales at Kingsford Waterbay at a median S$1,349 psf. The launch of the new projectby Far East Organization, Parksuites at Holland Grove having 50 units could sell only 3 units in the month ofFebruary at S$2,215 psf.The change in the Buyer’s stamp duty from 9th Feb 2018 will affect the purchase of residentialproperties which valued more than S$1 million has now risen to 4 % marginal rate, which was earlier 3 %.This also played a role in the decrease in the selling of executive condo units. Even though the marketexpectation rose high in the month of January, after selling 624 units, February recorded just 469 units,inclusive of executive condominiums which state a drop in the sale by 24.8%.Overall the market scenario stated a dip in the sales graph comparing to January. But the improvement inpurchasing behavior has been steady and brightening the scope of better sale graph for the future. Therecent City Developments Limited’s (CDL) freehold New Futura project at Leonie Hill Road sold its 48 units inFebruary 2018 is a perfect example. Also, the freehold project in the Orchard Road vicinity in Gramercy Parkhas achieved 97 % sales supports the future growth giving hopes to the real estate agents to gain more.2018, has shown more positive traits for a better real estate market in Singapore in the coming months. Itis almost the first quarter of 2018 and as expected the property index is now favorable to make theinvestment. Even after the announcement of the Budget in February, the change in the BSD has made littleeffect on the transaction behavior. The launch of the various new project from the last quarter has alsoreceived positive reviews.The recent findings also suggest that the response towards new launch properties has shown tremendousencouragemnent from the buyers. The contributin from the real estate agents are also very much noticablein this regard.Let us also find out the contribution of various property websites in the growth of the real estatate marketin the recent times.The various features added in the top performng property websites are With the growth of the propertymarket from the last quarter of 2017, number of real estate agents are listing their property in variousproperty websites in Singapore . Also, the increase in the competition has made number of real estateagencies in Singapore to inclined towards various websites to run their business. Also with this growingcompetition, various property websites have also launched their unique features to make the website morelucrative and user-friendly for the audience. In the recent years, these property websites have included someamazing features that have not only added to the sensitivity of the users but also made the property morelikable and attractive.Some of the best features added in the recent time by the best property websites in Singapore are theintroduction of 360-degree image viewer. The image quality of any property is one thing that makes theproperty most attractive to the buyers. The inclusion of the 360-degree image viewer has allowed theaudience to get a better picture and understanding of the property posted by the agent, making it moresalable. Review of past project: one of the core reason a real estate agent gets more preference is the lastproject completed by him. Some of the top real estate websites in Singapore has the features where one canview the past project done by the real estate agent making him more credible in the industry, locationwise search result. Sometime it is very difficult for expats and many people who are new to the city to get arental place according to their preferred location. But the new features where one can search variousproperty according to the location can be a sigh of relief to get a better dealWithout the presence of these property websites, it would have been really difficult to judge the price ofvarious price and rental value of any property. Also, unethical practice would have dominated the market.But due to the transparency maintained by the real estate websites, people can see the various price rangeoffered for the properties according to the location. The best real estate websites allow only the authenticand registered real estate agents of Singapore. So getting listed in any of the top property websitescertifies the work of the real estate agent in the market. The presence of various illegal practice thus canbe avoided while dealing with a property

The property website not only helps the market searchers to find various property in the market according tolocation but also helps the real estate agents to market their property in the most effective way. Propertywebsites helps a fair way to make the negotiation between the two parties. There are various new launchprojects every year that gets first highlighted among the top real estate websites. So more people andmarket searchers rely on these property websites for the market performance. To make a betterunderstanding of how to acquire a unit from the new launch project there is various information available onthe net and to get a proper knowledge about various new launch updates in Singapore one can log in tovarious property websites.The en-bloc sales has also become the talk of the town in the recent times. As the Government has takenmeasures to get The resale price of condos and other private apartments in Singapore has been in acontinuous state of rising since March. This price appreciation has been noticed in every sector, includingsales of HDB apartments or booking of new launch properties. The first quarter of 2018 is over and asexpected the property index is now favorable to make the investment. Even after the announcement of theBudget in February, the change in the Buyer’s stamp duty has made little effect on the transaction behavior.The launch of the various new project from the last quarter has also received positive reviews.The bright side of the market has been encouraging as the condition has improved drastically after havinglow sales momentum in the last few years. Also, the increase in the price of the private homes in the lastquarter rose to 1.1% and sells of private properties including condo sales in Singapore rose to 33 % which isnear to 10500 units of total sales in 2017 alone.The property market started to boom from the last quarter of 2017 after a series of negative territory for 4years due to some unfavorable measures introduced by the Government and the residential sector seems torevive from this effect. 2018 seems to be very promising, especially for the residential sector. Developersand investors are beginning to sense positive growth as the last quarter of 2017 have shown a pick-up infinancial transaction activities. Also, Singapore property market will experience an 8 % price rise and expectsto close at 50 % presales growth.Coming towards the sale of condos and HDB appartments has also risen in the recent times. Coming Condossale in Singapore which has risen for the second time in this quarter. According to the data collected fromURA (Urban Redevelopment Authority), private and non-residential home price rose to 0.7% in the lastquarter of 2017. These gains were feasible after four straight years of losing. Also, the property price hasrisen by 1% across the country which includes condos, HDB flats, and sale of new launch properties. Tillthe last year, property price had a decline to 3.1 %, and developers are taking this change in the propertyprice as a clear sign of the revival of the market. The last sales report has also shown a fair rise in the salesvolume of various property to match the peak price of 2013.The property price is likely to rise by this year only. By the end of the second month of 2018, the market hasshown a steady rise and is likely to show upward trend for the rest of the year making the assumption byMorgan Stanley to reach the 10 % mark quite possible. Although there still some issues like poor rentalmarket and high rates of interest for home loans that might cause some hindrance in the growth of theproperty market but the overall scenario is giving brighter hopes to the real estate agents in Singapore.The year 2018 has been one of the best year for property investment till now after travelling through adecreasing phase for 4 straight years.