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    HDB has announced that it plans to lower the occupancy cap on its properties from nine to six starting 1 May this year to improve living conditions.

    Bankbazaar Singapore – February 2, 2018

    Singapore: Following recent reports that home prices in Singapore rose for the second straight quarter in the last three months of 2017, new data shows that residential sales accounted for the majority of property investments in the final quarter.

    According to a report from the real-estate services firm Savills, residential properties stood out in terms of investment value, which rose 68.9% in Q4 over the previous quarter to S$7.14 billion. This accounted for 66% of the total investment volume in the quarter.

    Data from the Urban Redevelopment Authority (URA) released earlier had shown that residential prices in the country had increased 0.7% in the fourth quarter. The increase in investment during the same period sheds light on a boost in demand that could have helped the prices rise.

    In the commercial sector, investment sales rose 19.2% quarter-on-quarter to touch S$3.09 billion and contributed 28.6% to the overall transaction value during the period. Major deals that stood out during the period were that of Chevron House and the Beach Road commercial site.

    Deals that amounted to a total value of S$518.4 million were seen in the industrial segment, accounting for 4.8% of the overall investment sales.

    Looking ahead, Savills added that total investments in 2018 may be higher than what was seen in 2016 at about S$25 million to S$27 million. In 2016 the total value of transactions had reached S$22.66 billion. Although the collective-sales frenzy that dominated headlines in 2017 is expected to continue with similar or greater momentum this year, the average value of transactions could decrease.

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