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Singapore property developers cautious about market outlook

SINGAPORE : Property developers seem pessimistic about the outlook for Singapore's real estate market in 2012, with some analysts foreseeing a five to ten percent drop in property prices this year. But market watchers also say the strong interest in recent property launches could defy these forecasts and even lead to more cooling measures. Celebrations continue but property developers are still in the dark about the outlook for Singapore's property market in 2012. Mr Wong Heang Fine, President, Real Estate Developer's Association of Singapore, said: "We are cautious. On the market going forward, it all depends on how the global economy goes in the next eleven months. So it's really anybody's guess." URA data shows the rate of price increase for private residential properties moderating for the ninth consecutive quarter with rentals also tapering off.  More details at  http://www.channelnewsasia.com Source : MediaCorp Pte Ltd by Yvon
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Condos Future Launches

Project Name Street District Till Units Marina Bay Suites Central Boulevard 01 99 221 Unnamed Spottiswoode Park Road 02 FH 348 Sentosa Quayside Ocean Way 04 99 228 Unnamed West Coast Crescent 05 99 295 RV Residences River Valley Close 09 999 220 Paterson Suites Paterson Road 09 FH 102 The Vermont on Cairnhill Cairnhill Road 09 FH 123 Urban Suites Hullet Road 09 FH 165 Urban Resort Condominium Cairnhill Road 09 FH 64 Vivace Tong Watt Road 09 999 85 Waterscape @ Cavenagh Cavenagh Road 09 FH 200 Espada St Thomas Walk 09 FH 232 Nathan Suites Nathan Road 09 FH 65 Helios Residences Cairnhill Road 09 FH 140 Parvis Holland Road 10 FH 248 Trilight Newton Road
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More mid-end units sold in April

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According to April's price range of residential units sold from URA, there's an uptrend in the sale of condos in the mid-end price range ($1,000 to $2,000 psf). April has seen a total of 1,211 units sold in this price range, that's a 53% increase compared to March (791). High-end units on the other hand, didn't fare so well, seeing a 40% drop in sales. Has the high-end segment lost steam? Or perhaps taking a breather? Or could the turmoil in far-away Europe be a contributing factor? It's hard to say. It's interesting to note that sales in the mass market and mid-end market have contributed greatly to the big hike in April sale numbers. Developers have of late been concentrating on the mass-market ( Tree House ) and mid-end ( Waterbank at Dakota ) developments, rightly so as these segments have been neglected since the start of the year. For more fancy graphics, head to Tools > Private Residential units launched and sold (by Month )
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