|
| |
URA data to enable homebuyers to track upcoming property launches | | Source : CNA | Date : 2007-07-17 | | | Home buyers can now track upcoming property launches and plan their finances in advance, especially when they need to apply for loans.
This has been made possible by the additional information that the Urban Redevelopment Authority will be providing each month.
The URA released the data for June on Monday to give home buyers a clearer picture of the market.
But market watchers are hoping to see even more - such as subsales data.
Those scouting for new homes now have a wealth of new information to help them decide on their big purchase.
Data from the URA, which will be updated monthly, will give details such as the number of units sold in various projects last month, the price range, and the median selling price.
According to the data, Parkview Eclat on Grange Road had the highest median selling price of S$4,231 per square foot last month (with two units sold), while The Quintet in Choa Chu Kang was the most affordable at a median S$344 per square foot (with 9 units sold).
But analysts note that 70 percent of the 328 projects listed did not have any pricing data, the bulk of which are projects that have not been launched for sale.
Mohamed Ismail, CEO, PropNex, said: "Something that the consumer can decipher here is this: assuming out of the 300 over projects there were 50 that were not launched. And people who are interested to buy in some of these areas can start to do the tracking.
"Say in this particular area there is this development that is coming up, how many units and so on. They can do a comparative with a nearby project that has been launched - what is the pricing?"
For instance, while URA's table show that 336 units of the Floridian project on Bukit Timah Road are eligible for sale, none of the apartments have been launched yet.
Market watchers also say the table lacks details of sub-sales - or the secondary market - which represented over 6 percent of all private home sales in the first quarter of this year.
But they suggest that buyers should consider developers' sale prices, so they do not get overcharged on the secondary market.
Eugene Lim, Assistant Vice President, ERA Realty, said: "By looking at the table I would know what has been achieved by the developer. So when I'm looking at the prices in the sub-sale market, this would basically tell me what premium I'm paying above what was done previously at the original launch. So this would help check the amount of premiums that people are willing to pay."
A highly-popular project can usually be resold quickly by a buyer for a tidy profit in an industry practice known as flipping |
| Other Related News |  | 78 Shenton Way sold for $650m to German group | | Business Times | 2007-12-12 | | $1,857 psf deal shows foreign players still prize S'pore office market |
| | HDB resale market rides high | | BusinessTimes | 2007-10-01 | | It's certainly a seller's market as prices trend upwards and demand for larger units rise |
| | Singapore "hottest" property market | | EconomicTimes | 2007-07-22 | | Singapore has emerged as the world's "hottest" property market this year, with Japan and China also among the top favourites of real estate investors, an international consultancy said Thursday. |
| | YOU CAN STILL FIND BARGAINS | | NewPaper | 2007-07-15 | | SHE pays only $1,200 to rent a 3-bedroom private apartment in Guillemard. |
| | Keeping cool in a hot market | | Today | 2007-07-12 | | The Government may have raised the ante for the property sector with a string of warnings, but analysts don't expect official measures to follow any time soon to cool investor fervour. |
|  | | New Launch |  | The Bal | | "Let The Good Life Being" |
|  | Palm Oasis | | "An Oasis Awaits You" |
|  | Vertis | | Stylish 42-unit freehold development located in the prestigious East Coast district. |
| |
|  |
Maximize your Advertisement Today
