Singapore private home prices rise 3.1pc, highest quarterly price jump since 2010

singapore property

Private home prices rose the highest in almost eight years for the first quarter, to the surprise of analysts who were predicting a moderate price increase.

This prompted some of them to revise their market forecast for non-landed private home prices to rise by up to 10 per cent this year β€” likely to be boosted by the growing momentum of transactions and by displaced homeowners from en-bloc sales who are looking for newer homes.

On the back of positive economic growth numbers β€” barring no changes to the existing cooling measures put in place by the authorities β€” another factor for the projected increase are higher prices for new launches due to higher land costs.

Eugene Lim, key executive officer of real estate agency ERA Realty, said: β€œThe market was expecting a moderate price increase; this jump came quite as a surprise. With almost all the cooling measures still in place, this indicates a very positive market sentiment; and the market is on an uptrend.

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Two more JVs from YTL and Naza to oversee KL-Singapore HSR

Two more joint ventures (JVs) involving YTL Group and Naza Group have joined the fray to bid for the job of project delivery partner (PDP) to run the civil works portion of the Kuala Lumpur-Singapore high-speed rail (HSR) project.

The Star reported that according to sources, the YTL group has teamed up with the SIPP group to bid for the job of PDP, while another JV is between Naza Group and China Communications Construction Co Ltd (CCCC).

Concurrently, there are two JV companies comprising established names in the construction industry that are already bidding for the PDP job of the HSR.

The current JVs are Gamuda Bhd-Malaysian Resources Corp Bhd (MRCB) and a four-party consortium comprising IJM Corp Bhd-Sunway Construction Group Bhd (SunCon)-Jalinan Rejang Sdn Bhd-Maltimur Resources Sdn Bhd.

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