Singapore condo resale volume up 0.4% in September: SRX
The Business Times, 14 Oct 2020, Wed
By Vivienne Tay
RESALE volumes of non-landed private homes in Singapore rose 0.4 per cent month on month to 1,286 units in September 2020, inching up to a fresh two-year high.
This is a marginal increase from the 1,281 units resold in August 2020, which had been the highest since May 2018.
According to flash figures released by real estate portal SRX Property on Tuesday, last month's volumes were up 62.8 per cent year on year and 64.5 per cent higher than the five-year average volumes for the month of September.
Nicholas Mak, ERA Realty's head of research and consultancy, noted that the Hungry Ghost Month ended on Sept 16 this year, covering about half of the months of August and September.
Despite the belief that it is inauspicious to make major decisions such as purchasing real estate during the Hungry Ghost Month, resale volumes in September are now the highest since May 2018 based on SRX data, Mr Mak noted.
"One reason is that some homebuyers believe that the worst impact of the pandemic on Singapore is over and it is time to re-enter the market. As a result, the fear of losing out is greater than the fear of the hungry ghosts," he said.
Christine Sun, head of research and consultancy at OrangeTee & Tie, said investor exuberance for real estate seemed to have spilled over from the primary market to the secondary market. She said many owner-occupiers were thronging the resale market in search of value buys, especially for attractively priced, large-sized resale units.
Overall prices, meanwhile, edged up 0.1 per cent month on month and year on year in September.
By region, resale prices in the core central region (CCR) were up 0.5 per cent on the month and up 0.8 per cent in the rest of central region (RCR) or city fringes. Resale prices outside of central region (OCR) dropped 0.5 per cent.
On a year-on-year basis, condo prices in the RCR and OCR rose one per cent and 1.2 per cent respectively, while CCR prices fell by 4 per cent.
In terms of resale volume in September 2020, 56.4 per cent was from the OCR, 25.3 per cent from the RCR and 18.3 per cent from the CCR.
A unit at Le Nouvel Ardmore fetched the highest transacted price in the month at S$16.2 million. In the RCR, the highest transacted price was for a unit at Camelot By The Water resold for S$5.1 million. In the OCR, the highest transacted price was for a unit at The Trilinq resold for S$4.8 million.
SRX said the overall transaction over X-value (TOX) for September was zero, up S$3,000 from August 2020.
District 15 (East Coast, Marine Parade) and District 21 (Clementi Park, Upper Bukit Timah) posted the highest median TOX at positive S$10,000, while District 26 (Mandai, Upper Thomson) posted the lowest median TOX at negative S$13,800.
TOX measures how much a buyer is overpaying (positive value) or underpaying (negative value) for a property based on SRX's computer-generated market value. The data includes only districts with more than 10 resale transactions.
On outlook, Mr Mak said the recently announced restriction on the re-issue of option to purchase (OTP) for the sale unit to the same buyer may cause some buyers to explore the resale property market in the coming months.
"The practice of the re-issue of OTP is more common in the primary market and would attract buyers who need more time to sell their existing properties to avoid paying the additional buyer's stamp duty," he added.
Resale condos see strong sales again in September with prices stable: SRX data
The Straits Times, 14 Oct 2020, Wed
By Wong Shiying
The prices of resale condominiums held firm amid robust demand in September, with more than 1,000 units sold for three straight months.
An estimated 1,286 resale condominiums changed hands last month - up 0.4 per cent from August and 62.8 per cent higher than September last year, according to flash figures from real estate portal SRX Property on Tuesday (Oct 13).
Mr Nicholas Mak, ERA Realty's head of research and consultancy, said the Hungry Ghost Festival from Aug 19 to Sept 16, which some believe is an inauspicious period to make major decisions, had not stopped home buyers from purchasing real estate.
"One reason is some home buyers believe the worst impact of the pandemic in Singapore is over and it is time to re-enter the market... the fear of losing out is greater than the fear of the Hungry Ghosts," Mr Mak said.
SRX： “怕输” 多过怕 “饿鬼” 9月整体非有地私宅转售价微涨
Lianhe Zaobao, 14 Oct 2020, Wed
她指出，9月也有两宗成批买入私宅的交易，同样是坐落在马里士他路的Victory Point和Crescent Building，分别有12个和10个单位成批转售。
Fast lane, green lane, air travel pass: What you need to know about Singapore's COVID-19 travel measures
Channel News Asia, 13 Oct 2020, Tue
By Zhaki Abdullah
As part of Singapore's plans to revive its aviation sector, now that COVID-19 cases have been steadily falling, the Government has been setting up "green lane" arrangements and travel bubbles with certain countries and territories.
Most recently on Monday (Oct 12), Singapore and Indonesia agreed to establish a reciprocal green lane for essential business and official travel.
FAST LANE: CHINA
Singapore's first travel agreement was a “fast lane” arrangement with China which started on Jun 8.
It allows for official or business travel between Singapore and six provinces and municipalities in China - Shanghai, Tianjin, Chongqing, Guangdong, Jiangsu and Zhejiang.
Travellers must be sponsored by a company or government agency.
For Singapore residents, the relevant company or agency will file an application with the authorities in the province or municipality they intend to travel to.
Once approved, they can then apply for a visa from the Chinese Embassy in Singapore, as well as submit a health declaration to the Chinese authorities.
For China residents travelling to Singapore via the fast lane, the company or government agency sponsoring their trip in Singapore will file an application for a SafeTravel Pass, and receive an approval letter once they are given the go-ahead.
Travellers need not be quarantined, but must be tested for COVID-19 before departure from either country. They will be tested again upon arrival, and remain isolated for one to two days while waiting for test results.
They will have to bear the costs of getting tested.