Friday, April 2, 2010

Singapore Luxury Property Market Prices And Transaction Volume

Singapore prime residential properties are located in Districts 09 and 10. These districts include addresses such as Orchard, River Valley, Tanglin, Holland and Bukit Timah. The most expensive residential units are located in these areas of Singapore. These are the "best of the best of the best", and if there's any new project that's going to launch with super-ultra personalised facilities, top of the line quality finishes, sky-high prices, chances are you will find it here.

There is a huge variety to the type of properties in this areas. Ranging from older type apartments to new and modern condominiums, some may be low-rise walk-up (without lifts), whilst others shoot up all the way to beyond 30 storeys high.

To have a gauge on the foreigners' investments into Singapore property market, we like to keep a close tab on this market segment.

Take a look at the chart of district 09 & 10 private residential properties

You can see a huge difference in volume between 2008 (till early 2009) and the 2nd to 3rd quarter of 2009. The low volume is of course attributed to the sub-prime crisis. As the market volume begins to show improvements, we also start to see significant rise in prices.

The period of June to August showed healthy volume, but the trend soon started declining from October onwards. Average prices still seem to be hovering at S$1500 to S$1700psf region. We hope the upcoming data for 1st Quarter of 2010 shows improvement. Going below S$1500 (with low volume) might be indicative of uncertainty in this market segment (and it's probably not a good sign when even the big boys are losing money).

Stay updated to our blog via email and you will receive first hand information on the price and volume of district 09 and 10 and hopefully you can make a better judgment in your property purchase.
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Ralph W. - About the Author:
Ralph W. owns the website www.bindoa.com where information regarding Hong Kong apartments can be accessed.

Source:  http://www.articlesbase.com/real-estate-articles/asian-real-estate-prediction-778955.html