Impact of Integrated Resorts on Singapore Property Price

[SingaporePropertyGuru]

Talk about Sentosa in Singapore, you could be familiar with Sentosa Cove which is the only place in Singapore whereby foreigners can own a piece of landed properties in Singapore.

But is this due to the opening of 2 Integrated Resorts - Marina Bay Sands , Resorts World Sentosa that have proven to boost tourism numbers in the city-state?

Based on a recent study by property consultancy firm DTZ, between the first quarter of 2009 and the second quarter of 2010 - prior to the opening of the Integrated Resorts - the capital value of private non-landed homes rose by 65.3 per cent in Marina Bay and 38.5 per cent in Sentosa.

After the Integrated Resorts have opened, and between the second quarter of 2010 and the fourth quarter of last year, prices increased by 3.7 per cent in Marina Bay and 1.5 per cent in Sentosa.

Perhaps the initial euphoria has dissipated as there was no tangible advantage of living close to the Integrated Resorts and there was additional traffic to contend.

Nonetheless, Singapore property prices is still expected to remain firm.

 

[james hall]

Singapore home prices climbed to a record in the third quarter after developers sold more homes, a government report showed.

The island state’s private residential property price index rose 0.5 percent to 208 points in the three months ended Sept. 30, according to preliminary estimates released by the Urban Redevelopment Authority today. The index advanced 0.4 percent in the previous quarter, which was also at a record.