Real News‎ > ‎2012‎ > ‎June 2012‎ > ‎

19 June 2012

19th June, Tuesday

 


Residential

 

Suburban private home values outpace city prices

Source: The Straits Times

Prices of non-landed suburban private homes have outperformed those in the city over the last five years, a new report has found.

Across the board, private home prices have soared more than 50 per cent over the five years.

But not all segments have been buoyed equally by this price jump.

City centre homes have fared the worst, with many posh homes struggling to match robust gains posted by homes on the city fringe and in suburban areas.

Prices of non-landed homes in suburban areas enjoyed price rises of 68 per cent on average. This was a startling 30 percentage points more than city centre home price rises of 38 per cent, on average.

But other experts pointed out that if a different period had been selected, the trend would have been reversed with non-landed city centre homes posting some of the strongest price rises instead.

For instance, they enjoyed solid price gains of about 69 per cent in the three-year period from the first quarter of 2005 to the first quarter of 2008. Prices of city fringe homes jumped 39 per cent while suburban homes trailed with a 38 per cent rise in the same period.

 

Link to the story:

http://www.straitstimes.com/print/Money/Story/STIStory_812483.html  

 

 


Investment Sales

 

Kemaman View sold en bloc for $45.5m

Source: Business Times

Freehold residential development Kemaman View has been sold to private developer Aylesbury Pte Ltd for $45.5 million, or some $935 per sq ft per plot ratio (psf ppr).

The 17,388 sq ft site, located off Balestier Road, comprises 30 apartment units, each 1,324 sq ft in size. Located in District 12, the plot is zoned for Residential Use under Master Plan 2008, with a gross plot ratio of 2.8 and a maximum height of 36 stories subject to approval.

Development charges for the plot are not expected to be payable, unless the developer obtains approval for an additional 10 per cent gross floor area (GFA) for balconies in addition to a potential GFA of 53,813 sq ft. In this scenario, development charges are estimated to amount to $2.8 million, resulting in a unit land price of $816 psf ppr.

 

Links to the story:

http://www.businesstimes.com.sg/print/90842

http://www.straitstimes.com/print/Money/Story/STIStory_812480.html

http://www.channelnewsasia.com/stories/singaporebusinessnews/print/1208396/1/.html

 

 


International Markets

 

Home prices decline in 54 of 70 Chinese cities in May

Source: Business Times

China's home values fell in a record 54 of 70 cities tracked by the government in May as developers cut prices to boost sales amid housing curbs.

The eastern city of Wenzhou led declines with a 14 per cent slump in values from a year earlier, while Beijing and Shanghai recorded losses of as much as 1.6 per cent, according to data released by the statistics bureau Monday.

Monday's data compares with April, when 46 cities posted declines in new home prices.

Among the major cities, Shanghai and Guangzhou both retreated 1.6 per cent in May, while Shenzhen decreased by 2.3 per cent from a year earlier.

 

Links to the story:

http://www.businesstimes.com.sg/print/90863

http://www.todayonline.com/Print/Business/EDC120619-0000052/China-home-prices-fall-in-record-number-of-cities-last-month