Posted on July 26, 2008 by lushhomeonline
Resale price index very close to record high of Q41996; Q2 transactions up 22%
THE Housing and Development Board (HDB) has announced that its Resale Price Index rose by 4.5 per cent in Q2 2008 over the previous quarter and 8.4 per cent since Q4 2007.
The number of resale transactions also increased by 22 per cent quarter on quarter to hit 7,760 transactions.
On a half-yearly basis, a total of 14,120 transactions have been recorded so far, almost half of the 29,450 transactions for the whole of 2007.
The HDB Resale Price Index is now hovering very close to the all-time peak in Q4 1996, boosted by high resale prices in estates like Queenstown and Bukit Merah where the median price for five-room flats is now around $600,000.
But while a buoyant resale market can translate into a stronger HDB upgrader base, it may still be too early for developers to count on upgraders to prop up the private residential market.
DTZ executive director and regional head for consulting and research, Ong Choon Fah, said that HDB upgraders are ’still price-sensitive’.
According to DTZ’s analysis, HDB upgraders accounted for 28 per cent of all private homes bought in Q1 2008, up from 22 per cent in the preceding quarter.
However, in 1998, when private property prices bottomed out, HDB upgrader transactions peaked at 62 per cent of all private property transactions.
And when the property market tanked again in 2002, HDB upgraders went in to buy up to 59 per cent of all private property transacted.
While the numbers suggest that HDB upgraders still find private property too expensive, Mrs Ong also pointed that HDB does now offer a ’spectrum’ of property types to cater to more specific needs and price brackets.
Mrs Ong was referring to HDB’s new Design, Build and Sell Scheme flats which have been selling well.
Sources also say that the 578-unit Park Central at AMK has received around 1,000 applications since its launch on June 23.
HDB has also launched a total of 4,524 new flats under the Build-To-Order (BTO) system for H1 2008.
ERA Asia Pacific assistant vice-president Eugene Lim points out that HDB upgraders tend to be those who sell their five-room or executive flats, and according to his analysis, this number has not increased significantly.
Five-room flats made up 26 per cent of all HDB resale transactions in Q2 2008, up from 25 per cent in the previous quarter while executive flats made up 9 per cent, up from 7 per cent quarter on quarter.
Four-room flats made up 37 per cent of all resale transactions, and Mr Lim also notes that the median price for this segment saw the highest increase by $15,000 to $300,000.
Mr Lim believes that the upgrader effect on the private property market could be curtailed by affordability too.
‘Most upgraders will be looking for properties in the $650-$750 psf bracket,’ he said.
Interestingly, the influx of new permanent residents (PRs) here has added to the demand for resale flats.
Mr Lim estimates that 20 per cent of buyers in the resale segment are PRs, up from 10-12 per cent a year ago.
However, whether PRs are partially responsible for the buoyant resale market is not known. HDB has not revealed the number of flats bought by PRs.
Perhaps a more interesting development is that the HDB Resale Price Index has begun to diverge from the private property price index, which grew by just 0.2 per cent in Q2 2008.
Still, most property consultants believe the chances of the two indices decoupling, to represent a disconnected private and public property markets, are remote.
Knight Frank director (research and consultancy) Nicholas Mak also highlights that between Q2 2002 and Q1 2004, prices of private homes fell, while HDB resale prices increased.
During this period, both indices did, however, remain relatively flat.
Mr Mak does believes that any divergence in price trends, if any, will only last for a few quarters before a correlation is re-established.
He added: ‘Both private and public sectors do relate to the same macro-economic factors.’
DTZ’s Mrs Ong also said that both sectors are linked by the ’substitutional effect’.
‘If prices are too high in the private housing market, buyers will shift to the public housing market,’ she added.
She also noted that significant shifts in price movements only tend to follow changes in housing policy and related spheres like Central Provident Fund.
Savills Singapore director (marketing and business development) Ku Swee Yong believes that HDB upgraders will eventually return to ‘lend strong support’ to the private property market, citing the interest, if not the take-up, in new mass-market launches like Livia and Clover by the Park as examples.
Source : Business Times - 26 Jul 2008
Subscribe to:
Post Comments (Atom)
Blog Archive
-
▼
2008
(752)
-
▼
July
(231)
- 吉宝置业下半年 有望推出777单位公寓
- 財報-購併支出拖累 SAP第2季獲利降9% 仍優於預期
- 軌道房開始“繳械” 滬上樓市盤整加劇
- 上海今年第一塊住宅地底價成交
- 上海新房成交價跌至每平方米11717元
- Less cash upfront but …
- HDB resale market buoyant but upgrader effect stil...
- Record 13,400 homes to be completed next year
- Older landed homes now within reach
- 謝國忠》危機再現
- 債券大王Gross再唱衰美國經濟 預測房市崩潰將損失1兆美元
- 債券大王Gross再唱衰美國經濟 預測房市崩潰將損失1兆美元
- 分析師:原油熊市氣氛仍濃 未來一週最低下探117美元
- 金融管理局局长:通胀率已达顶峰
- Slow demand for office space hits rents
- 金融管理局將2008年通 膨目標由原估的5-6%調高到6-7%
- 美國眾議院表決通過住房市場相關法案
- 上海二手房市場:7月盛夏似寒冬觀望成主流
- 題材多多地產股全線跑贏大市
- 布朗:英國擬明年上半年撤回大半駐伊拉克軍隊
- 力抗通膨 巴西央行施鐵腕 一舉升息3碼至13%
- 健檢 人生最重要的1項投資
- 布局金融股「錯殺行情」
- 樓市拉警報 香港房地產經紀人事大凍結 或掀裁員潮
- 雷曼兄弟報告預計中國房價還會進一步下跌
- Singapore is 13th most expensive city
- Thousands throng showflats at Park Central@AMK
- PropNex to fire non-performing agents this week
- PropNex to fire non-performing agents this week
- 武吉知马一地段再集体求售 价格比去年低四成
- 等待购屋 宏茂桥私人组屋 3000人参观示范单位 首两小时130人登记抽签选购
- 连续三个月维持在26年来最高水平 6月通胀率仍居高不下
- 紐約匯市─美財長Paulson發表演說 美元匯價創兩周最大升幅
- 鮑爾森:美國房屋市場可能很快反轉
- UK home prices fall for first time since 2002
- Govt to delay additional S$1.7b worth of public se...
- 上海首批160萬平方米經濟適用房三季度將全面開工
- 萬科帶頭降價“上海房價聯盟”瓦解
- 与次贷危机共存 胡舒立
- Condo sales in S’pore hit by bad news from US
- Johor’s Horizon Hills attracts foreign buyers
- 上海推“頂級”住宅用地 樓板價格達到2.2萬元/平方米。
- 海峡时报指数(STI) 080721
- 花旗:美英房價還要跌兩年
- Park Central development: Condo-like flats for les...
- UE’s Park Central @ AMK to sell for $490-500 psf
- A-Reit: Q1 distributable income of $52m
- Big property stand-off
- 宏茂桥私人组屋下周发售 平均每平方英尺500元
- 用清雅白色裝修夏日家居
- Landmark en bloc ruling
- The Wharf Residence
- Morning Market Report 080718
- 滬高檔公寓租金收益不如存款 來源:《東方早報》
- 重新装潢月租3000元 老式三房组屋摇身变租屋
- 花拉阁地段 将发展为中高档私宅
- 嘉德和旅店置业:宁愿持守 豪宅不会削价求售
- 仲量联行: 如果次贷风暴持续 豪华房产转售价可能跌一成
- JLL predicts up to 4.5% dip in typical prime distr...
- KL property: On the home front
- New face in Farrer
- 上海將研究制訂稅費支持政策鼓勵居民租房
- 統計數據顯示:滬寧兩地出現房價回落態勢
- 分析〉歐元區出現衰退跡象 不受美國經濟影響?太天真了!
- 以舊翻新更划算 二手房翻新木地板可以更省錢
- 美元/日元:美國民主黨討論戰略石油儲備
- Jones Lang LaSalle says S’pore’s prime property ma...
- CapitaLand to build 1,500 high-end homes on site o...
- Malaysian real estate sector may face rocky road a...
- CapitaMall Trust to distribute 3.52 cents per unit...
- 廣州6月一手住宅均價為每平米9,569元環比跌9.1%
- Forced sales loom over UK real estate scene
- 回歸多頭時機 最快落在第四季 三大名師會診台股後勢
- 雷曼:中國全年CPI預期從6.5%上調至7.2%
- 廣州首付促銷重現樓市 業界:下半年資金壓力更大
- 歐美閒置房經驗:空置一年以上陌生人就可以住
- The IR effect on housing demand
- 美以对垒伊朗:奥运外的危机?
- 李兆基:港股9月可转守为攻
- 晚晴园附近酒店地三方出手标价偏低
- ‘Realistic’ prices drive home sales
- 布什撤销美国海域勘探石油禁令
- Private home market stirs to life again
- 地铁滨海市区线第二阶段新站揭晓 地铁线穿过私宅区 武吉知马房价料升
- 地铁环线第三阶段 可在明年中通车
- 第二阶段将于2015年完工 滨海市区线12地铁站位置揭晓
- 陈惠华:政府应该大幅调整 鼓励结婚生育措施
- 丹那美拉地铁站对面 私宅地段招标
- Up 77%: New private home sales
- LTA unveils locations of DTL stage 2 stations
- Singapore home sales in June up 80% from May
- Choice Tanah Merah site for sale
- 1970年代危機似重演 索羅斯:這是一生中最嚴重的金融危機
- Condo sales at showflats tapering off
- 兵分三路白宮全力營救房貸兩巨頭
- 美股盤後─IndyMac銀行倒閉抵銷政府紓困 道瓊下跌45點
- 南艺去年毕业生 比前年更快找到工作
- 大众私宅楼盘 销售表现参差不齐
- 别当‘老’爸 人老机器坏 精子多缺陷 男人超过35岁 伴侣流产风险大
- 按图索骥
-
▼
July
(231)
No comments:
Post a Comment