Singapore Property Developers Lowering Launch Prices Of Residential Properties.
Prices of new launch residential properties in Singapore appear to be lower. The lower prices is probably due to less desirable locations and stiff competition.
Online, August 24, 2012 (Newswire.com) - Singapore property developers appear to be lowering launch prices, as fresh figures showing prices for uncompleted residential properties seem to be lower in the second quarter this year.
In the data released by URA (Urban Redevelopment Authority), prices of uncompleted non-landed private residential homes (such as Singapore condominium and apartments) fell slightly 0.9 per cent between April to June. This contrasts sharply with the prices of completed homes which soar 2.3 percent over the same period.
Some experts feel that the lower launch prices could be because of the less desirable locations of the new launches. For example, the location may be further away from train stations or amenities. Another possible factor can be due to the density of new launches in a particular residential district. The additional supply of properties increased competition for buyers in the area.
The situation in the high end residential property market is starkly different. Prices for homes in the city centre fell 0.6 per cent in the second quarter. The persistent weak demand in the high end segment after several rounds of cooling measures has piled on pressure of developers to negotiate a a lower price.
However, the 0.9 per cent drop in prices of uncompleted non-landed private residential homes is not really discernible to most property buyers. Many projects are not seeing any price adjustment down because of healthy demand.
Local Singaporean or foreigners looking to invest non-residential properties can consider buying prime office units in financial districts. One such new launch project is Eon Shenton. Interested buyers should check out http:www//.Eon-Shenton.sg, to get an overview of the project and the latest promotional offers.
Investors interested in other Singapore property, are welcome to visit http://www.BuyRentSingapore.Com or http://www.BuyRentSingaporeProperty.Com for latest property launches in Singapore. BuyRentSingapore.Com is a Singapore property listing website.
Related Media
