26-May-2009
Firm demand boosts sales of private homes. Some developers have raised prices as a result . Developers continued to report encouraging private home sales last week, and some have upped prices on firmer demand. BelleRive on Keng Chin Road and Martin Place Residences on Kim Yam Road are among the projects where prices have been raised. BelleRive's average price is now 13 per cent higher than when it was previewed in mid-April. Frasers Centrepoint sold 60 more units last week at Martin Place Residences; new units were released over the weekend at prices that were about 5-7 per cent higher.
26-May-2009
Developers dangle rent guarantees. Buyers respond well to scheme introduced at some projects. Some developers here are turning to rental guarantees to lure buyers in the current down-market. Under such schemes - which are offered only for certain units within selected projects - developers help buyers secure tenants, and also ensure that the owner gets a minimum pre-determined yield. Far East Organization, for example, offers rental guarantees for selected units in selected projects such as Orchard Scotts, Vida, River Place, Tanglin View and Icon.
26-May-2009
Analysts upgrade property stock calls. Private residential prices now expected to rise next year. Property analysts now expect private home prices to climb again next year - a turnaround from previous forecasts that they would continue to slide into 2010 - as there is now a sense that the residential market has hit bottom. And amid this new- found optimism, analysts' recommendations on several property stocks have been upgraded. The residential price index chalked up its worst-ever quarterly decline of 14.1 per cent in Q1 2009, according to official figures from the Urban Redevelopment Authority. 'A bottom has been established for the housing market, as price cuts have catalysed latent demand and accelerated inventory clearance, in our view,' said Deutsche Bank analysts Gregory Lui and Elaine Khoo in a note yesterday.