THE Government has wasted no time in tackling a thorny problem that had sprung...
Recent News
Launching Soon @ Bishan Central
One of the most exciting developments in the suburban areas is launching soon! Here are my personal opinions on why investors should consider this development: 1. Excellent connectivity in terms of public transportation. 2. Drivers would love this location due to its accessibility to all expressways e.g. CTE/PIE/KPE/SLE/TPE 3. Excellent Schools located within walking distance: [...]
URA cracks down on misuse of factory units
THE Government has wasted no time in tackling a thorny problem that had sprung up over the wrong type of tenants using factory space to get cheap rent. The prompt action seems to have been set in train by a no-nonsense blog post by National Development Minister Khaw Boon Wan last week. He suggested that [...]
Rent rises beat capital growth in major cities
RENTAL values are rising faster than underlying house prices in many of the world’s leading cities such as Paris and Hong Kong. An average rental growth of 2.3 per cent from June to December last year, as compared with just 1 per cent growth in capital values. Paris overtook London as the most expensive rental market, [...]
Shoe-box factories and unlawful tenants
THE shoe-box factory has caught the national development minister’s attention, and it’s not all good. Writing in his blog, Khaw Boon Wan said that shoe-box apartments serve a purpose as many singles do find them adequate for their housing needs. ‘But shoe-box factories? As small as 50-80 sqm (smaller than a typical 7-Eleven shop)? Can a factory [...]
Resale market takes a dive after cooling measures
SALES of new homes might be defying gravity and shattering records, but the story is vastly different for home resales. Experts say both the resale of finished homes, and the quick resale – or subsale – of homes bought but not built yet, to earn easy profits, have taken a dive. They feel last December’s property cooling measures played [...]
Tampines EC plot is choicest of the lot
An executive condo plot next to the Tampines Trilliant project has been tipped by property consultants as the choicest among four residential plots released under the Government Land Sales Programme yesterday. The four plots, including a reserve list site that will be made available for application later this month, can potentially generate an estimated 2,415 [...]
‘Cooling’ back in frame as Feb home sales rise
It seems the government’s property cooling measures have lost their ‘cool factor’, as February marked the highest number of units sold by developers in a month since July 2009. Urban Redevelopment Authority (URA) figures reflected a total of 2,413 private homes – excluding executive condominiums (ECs) – being sold in the month of February. This [...]
More choice for Sers flat owners
THE Government has given a boost to Housing Board homeowners affected by en bloc redevelopment of their estates. They will now be given priority in the selection of any Build-To-Order (BTO) flat across the island, instead of just the replacement flats allocated to them near their current homes. They will also receive concessions which could [...]
Big property deals now in cold storage
Investment sales of property so far this quarter have plunged to their lowest levels in two years – to about $3.4 billion as at March 12, although the final figure for Q1 could rise to around $3.8 billion. The tally as at March 12 reflects declines of about 57 per cent from $7.7 billion for [...]
Lots to pick from for home buyers
Home buyers will be so spoilt for choice this year that most won’t know where to turn – or which developer’s sweetener to take up. The launches and freebies are already coming thick and fast with loads of new projects lined up. The news is less certain for pricing but few experts expect huge bargains on the horizon. While some say [...]
Developers’ bids signal likely dip in home prices
DEVELOPERS here are becoming more cautious with how much money they are willing to pay for private home sites. They seem to be getting more worried that private home prices could fall, perhaps by up to 8 per cent this year, according to a new research report. So they have to factor the potentially lower [...]
Landbanks ‘healthy’ despite strong sales
THE bumper supply ramp-up of new land sites has allowed developers to keep their landbanks stocked up in the face of roaring home sales. Most big-gun builders have thousands of units in their landbanks. A landbank comprises unsold units – including executive condominiums – from projects with planning approval and estimated units from sites that [...]
Construction firm KTC launches maiden project
CONSTRUCTION company KTC Group has made a foray into the property development business with its first project, Summer Scent, located at the junction of Hougang Avenue 2 and Upper Serangoon Road. The freehold project, developed by KDC (Kovan) Development, comprises 16 units, of which six have been sold. KDC Development’s director, Chua Lai Seng, is [...]
Latest Updates on Twin Waterfalls!
As 07 Mar 12, 460 units of 728 units are sold! Find out why 182 units of Twin Waterfalls set aside by developer Frasers Centrepoint for second-timers were snapped up in two hours! Click here. To know more about Twin Waterfalls / Site Plan of Twin Waterfalls, click here! Pls note that I am only [...]
Top bid for Hillview Ave site beats expectations
An ‘overly optimistic’ top bid, a whopping 18.6 per cent higher than the next, was put forth by Kingsford Development for a 99-year residential site located along Hillview Avenue yesterday. Its bid of $243.2 million or $638 per square foot per plot ratio (psf ppr) for the 136,147 sq ft plot with a plot ratio [...]
Second-time buyers get a better shot at EC units
Last Friday news that second-time buyers of public housing units would be given more chances to purchase executive condominium (EC) units; the previous 5 per cent limit increased to 30 per cent of units in ECs will now be set aside for this class of house hunters. ECs are sold by private developers with condominium-like [...]
Help for HDB ‘second-timers’ to buy flats
AFTER easing the demand crunch among first-time Housing Board (HDB) flat applicants, the Government will now help ‘second-timers’ – a group that includes a large proportion of HDB upgraders. It will change the rules to significantly boost their chances of successfully balloting for a new Build-to-Order (BTO) flat or executive condominium (EC) unit. Announcing this [...]
More incentives to live with or near parents
STRESSING the importance of family ties as the bedrock of a strong society, the Government yesterday rolled out two new initiatives to encourage married children to live with their parents or near them in housing estates. The first is to strengthen the Married Child Priority Scheme (MCPS) to give higher ballot chances to married children [...]
Idea for Flats with Shorter Leases May Not Fly
(I think this is a bad idea. Read on…) Straits Times 02 Mar 12 Summary: A MP has proposed that the Government sell new flats with shorter leases, as that would mean cheaper flats which would be a boon for young couples. (Sometimes, I look at a young couple, and I wonder if their expectations are [...]
CDL has faith in luxury property sector
(Another interesting headline. The reporter used the word “faith”, as if implying that CDL is not basing their optimism on facts.) Straits Times – 01 Mar 12 Summary: The subdued sentiment has forced CDL to halt marketing its premium project The Residences at W Singapore Sentosa Cove. (Forced? Developers are never forced to stop marketing [...]
Getting a home loan? Get reality check first
This is a very interesting headline. Read on to find out why. Straits Times today (01 Mar 12) Summary: Monetary Authority of S’pore (MAS) has mandated that from today, banks will have to provide potential borrowers with a fact sheet when discussing on credit facility. Objective: to help potential customers work through the nuts and [...]
Turf City’s New landlord plans to revive mall
ST – 01 Mar 12 Summary: Cogent Land Capital has taken over the former Bukit Timah Turf Club site from Singapore Agro Agricultural (SAA). Tenants like Giant hypermarket, Ah Yat Seafood Restaurant and Art Boot Camp are still operating there. Renovation work will start next week. Revamped Turf City mall will have a range of [...]
Development charges dip for non-landed residential use
Straits Times – 01 Mar 12 Summary: Charges that developers pay to enhance the use of a plot of land have finally been reduced or left flat for some sectors, as the slowing property market takes its toll (I think it’s more for the luxury prime areas, rather than the rest of Singapore.) The new [...]
Sentosa Cove Bungalow fetches Record $39 M
Business Times – 01 Mar 12 Summary: A sea fronting bungalow at Cove Drive has changed hands at $39 million, a record absolute price for a bungalow in upscale waterfront residential district of Sentosa Cove – $2,448psf on land area of 15,929sqft. Surpasses the previous high of $36 million for a bungalow on Paradise Island that was transacted in [...]
Condominium Review: Centro Residences
About this development: Tenure: 99 yr leasehold Developer: Far East Site Area: approximately 69,000sqft Location: Ang Mo Kio Ave 8 – just beside Ang Mo Kio Hub No. of levels: 34 storeys, with 2 towers No. of Units: 329 Pros: Excellent location – just next to Ang Mo Kio Hub (NTUC and many restaurants are [...]
Latitude Condominium Just TOP!!!
Presenting A Quietly Luxurious and Generously Spacious Development in District 10 A Prestigious Development Exuding A Sense of Calmness and Serenity With Just The Right Touch of Elegance For more information about price, floor plans, and how you can own a unit here, click here OR Call Jarene Chuang @ (+65) 9431 4139
Bedok Residences is the latest HOT property in Singapore!
Do you know: On the first day of the launch, more than 350 units of the 450 units were sold? 98.1% of 1 bedroom + study were sold within the first day (only 2 units were left!) The BEST among all 2 bedroom units were all sold! Even The BEST among all [...]
HOUSING STRESS: PM struggles to find a rental property – News.com.au 28 Oct 11
Prime Minister Julia Gillard and her partner Tim Mathieson need to find an alternative to the Lodge. PM wants a rental property while the Lodge is being renovated Security demands making the choice more difficult One in ten Aussies in housing stress PRIME Minister Julia Gillard is experiencing Australia’s housing crisis first hand in her [...]
Housing sector ‘making a comeback’ – AAP 02 Nov 11
THE housing sector is set to make a comeback, getting a further boost from yesterday’s interest rate cut, economists say. Australian residential building approvals fell 13.6 per cent to in September, seasonally adjusted, the Australian Bureau of Statistics (ABS) said on Wednesday. Economists’ forecasts had centred on a five per cent fall in approvals in [...]
Building approvals fall 13.6 per cent – News.com.au, 02 Nov 11
AUSTRALIAN residential building approvals fell 13.6 per cent to 11,889 units in September, seasonally adjusted. This compares to a downwardly revised 13,758 units in August. In the year to September, building approvals were down 12 per cent, the Australian Bureau of Statistics (ABS) said on Wednesday. Economists’ forecasts had centred on a five per cent [...]
S’pore, US among top destinations for rich Chinese migrants – The Straits Times 4 Nov 11
About 60 percent of the rich Chinese people, each of whom has a net asset of at least 60 million yuan (S$12.12 million), said they intended to migrate from China, a report has found. About 14 per cent of them have either already migrated from China or have applied for migration. The three most favoured [...]
Green Lodge put up for collective sale, EOI at Oxley – Business Times 3 Nov 11
Green Lodge, a freehold development located on Toh Tuck Road, has been put up for collective sale. Separately, an Expression of Interest (EOI) exercise was launched yesterday for 71 and 73 Oxley Rise, a freehold site zoned for ‘commercial and residential’ use. The Green Lodge site has an asking price that is above $195 million, [...]
Punggol residential site draws top bid from Chinese firm – TODAY 4 Nov 11
A 99-YEAR-LEASEHOLD residential site at Punggol Central/Edgedale Plains drew a top bid of $215.87 million yesterday, or $330 per square foot per plot ratio (psf ppr). Chinese firm Qingjian Realty (South Pacific) Group trumped four other developers to put in the top bid for the site, which measures 218,034.6 sq ft and has a maximum [...]
Last call for Melbourne Property Investors in Singapore!
Only 4 Units of 1-Bedrooms Left!!! Presenting One Lygon… Price: AUD$420,000 with car park! Deposit: 10% at point of purchase + 10% upon completion! You only need to put down approximately AUD$42,000 at point of purchase and another AUD$42,000 at upon completion. Location: 1 Lygon Road, Brunswick, Victoria – Just 4km to Melbourne CBD Long [...]
Suites @ Newton is FOR SALE!!!
Suites @ Newton is now available at SPECIAL PREVIEW PRICES! 1-Bedroom only from $1,041,427! 2-Bedroom only from $1,224,853! Do not to miss such attractive quantum for a Prime D11 property!!! Prestigious Freehold Development @ D11 1 Surrey Road By Teambuild Land ~~~Newest Launch!~~~ ~~~Worth Considering!~~~ Reasonable Quantum! Project Information Location: District 11! 1 Surrey Road Singapore [...]
MF Global Singapore to be wound down – The Straits Times, 2 Nov 11
Anxious investors swarm Singapore office Summary: The Singapore operations of a Wall Street brokerage that has collapsed as a result of the European debt crisis are to be wound down. Accountancy giant KPMG has been appointed as the provisional liquidator to oversee the process, the firm MF Global Singapore said last night. Its parent, MF Global, filed [...]
Home Sales Unlikely to beat last year’s high – The Straits Times, 1 Nov 11
Summary Strong economy first 9 months but global economic uncertainty to take toll Sales of new private homes may come close to last year’s record high, but they are unlikely to surpass the figure with global economic uncertainty affecting demand, experts say. Homes sales for the first 9 months of this year came in at [...]
Laguna Park, Henry Park Apartments up for collective sale – Channel News Asia 31 Oct 11
Laguna Park at Marine Parade Road is up for collective sale with a reserve price of S$1.25 billion. Together with Henry Park Apartments, which is also up for collective sale at between S$170 million and S$180 million, the total value of properties that have come up for sale in October has hit close to S$5 [...]
Buffet of New Homes – The Straits Times, 31 Oct 11
Summary A large supply of mass-market homes is set to enter the market by the end of this year. These 99-year leasehold projects are mostly from the flood of suburban state land released by the government over the last year as it attempted to cool robust home-buying demand from first-timers and upgraders. At least 5 [...]
HDB resale flat prices up 3.8% – Channel NewsAsia, 28 October 2011
Summary: HDB Resale Prices has increased by 3.8% as compared to the previous quarter Resale transactions fell by 10% from 6,581 cases in the second quarter to 5,903 cases in the third quarter. Overall increase from Q3 2011 is 11.6%, which is an all-time high, i.e. HDB resale prices has been increasing at an average [...]
URA Released Real Estate Statistics for 3rd Quarter 2011
Check out my analysis of the data released! Please click on the picture below to enlarge the font size!
Have Property, May Not Profit – Sunday Times, 16 Oct 11, Invest Section, Page 37
Last Sunday, there was an interesting article about investing in property market in Singapore: Have property, may not profit – Sunday Times, 16 Oct 11, Invest Section, Page 37 In this article, the author, Mr Goh mentioned that he had met up with some old friends who are property investors, and they were musing about their [...]
Part 5: Finding the correct market suitable for your investing style
Many a times, investors prefer to invest in their country of residence or birth. After looking part 1, 2, 3, and 4, it is now time to use the information that you have gathered to decide on where you are suitable to invest in your country of residence or birth. Why do I emphasize more [...]
Part 4: Knowing, and understanding the characteristics of the property market that you are interested in
Knowing and understand the characteristics of the property market will help you decide whether you want to invest in the property market. Find out about the following: What is the rental yield? – This will determine as a general rule of thumb how much you can rent out your property. What is the interest rate? [...]
Part 3: Knowing what and where your priorities are
Property investing is a long-term plan, aimed at wealth accumulation. Money is just a method of keeping score. Let us not forget why money was created in the first place. Money is just printed paper, with a value that everyone agrees upon at that point in time. It was created to be used as a [...]
Part 2: Knowing Your Investing Style
Your investing style is partly influenced by your holding capacity, but mostly influenced by your investing EQ towards property. What is holding capacity? In any economy, there are always upturns and downturns. It is during the downturn that everyone should be more mindful of. During the downturn of the economy, jobs are lost and businesses are [...]
How to Invest in Properties And Sleep Soundly At Night
It is not easy to predict where the property market is going, whether it is in Singapore or Australia. Not even the property market “experts” can do it accurately. Why is that so? Actually, the reason is simple. It is because what property market experts do, is to crunch the numbers. They do not have [...]
The Importance of Tax Agent and Property Manager when investing in Australian properties from abroad
Here I go again, I thought wryly. Who is the idiot who invented giving things for free when there is an unseen cost to it? I was meeting a client, explaining to him about property investing in Melbourne. There are certainly many differences between investing a property in Melbourne and Singapore. But one question that [...]
Summary of URA’s New Regulations on Singapore Property Market
The recent measures on 14 Jan 2011 imposed by the Singapore government had taken to ensure that the property market is sustainable has been pretty drastic. Check out the new regulations here. A Summary of URA’s regulations: 1. Holding Period for Seller’s Stamp Duties from 3 years to 4 years 2. Seller’s Stamp Duties imposed [...]
One man’s panic is another’s bargain…
Business Times – 15 Aug 2008 CDL chief points to some good buys as panic-sellers offload, but he’s not alarmed (SINGAPORE) City Developments Ltd (CDL) executive chairman Kwek Leng Beng yesterday acknowledged that there have been some cases of high-end property buyers resorting to panicselling in the secondary market. These are people who’d bought their [...]
Just one bid for Tampines condo site
Straits Times Aug 13, 2008 THE property slowdown was clear for all to see yesterday when the tender for a condo site overlooking Bedok Reservoir closed with just one bid – and at a price well below expectations. The Urban Redevelopment Authority (URA) will likely refuse to award the 3.2ha site, given the poor offer, [...]
MTI expects a lingering slowdown, sluggish rebound
Business Times – 12 Aug 2008 Price fears ease but Q2 growth down to 2.1% on pharma swings and electronic weakness (SINGAPORE) Concern here over price pressures will likely take a back seat to growth risks in the months ahead, as global inflation looks to be peaking but no quick economic rebound is expected anytime [...]
State property at Changi on offer
Business Times – 12 Aug 2008 The parcel has a land area of 104,044 sq ft and GFA of 54,864 sq ft HOTEL operators can look forward to another state property to develop – this time at Changi. The Singapore Land Authority (SLA) yesterday launched the plot – part of a former military camp – [...]
S’pore Q2 GDP up 2%
Business Times – 11 Aug 2008 SINGAPORE – Singapore’s economy grew at the slowest pace in five years. The gross domestic product expanded 2.1 per cent in the second quarter, after growing 6.9 per cent in the first quarter. The Ministry of trade and Industry said on Monday the economy was hurt by a plunge [...]
All eyes on IRs now
Business Times – 09 Aug 2008 Apart from a surge in tourism, jobs and tax receipts, Singapore’s two integrated resorts could bring in new investors WITH expectations of a big boost to the economy, more buzz and the promise of thousands of jobs, it is no wonder we are all a little anxious to see [...]
Challenges for property sector
New engines drive Singapore’s property market but pitfalls remain THE Singapore property market has weathered the storm from the US sub-prime crisis, soaring oil prices and overall inflation, pretty well. Runaway increases in property values in the high-end residential and prime office sectors seen in the past couple of years, for instance, have started to [...]
From exuberance to caution
In just 12 months, Singapore has swung from Boom Town to seeing its slowest quarter in five years. ONE year ago, economic and business sentiment in Singapore was probably at an all-time high: The property market was on a roll, banks and finance houses went on a hiring spree, and the economy, flush with liquidity, [...]
Growth in office occupancy costs tapers off in Q2
Prime Raffles Place space up only 1.1% quarter on quarter: DTZ report GROWTH in office occupancy costs in Singapore has started to taper off after the meteoric rise last year, reflecting the increased resistance to higher occupancy costs, according to a new report. ‘Apart from Raffles Place, Shenton Way/ Robinson Road/Cecil Street and decentralised areas, [...]
HDB imposes checklists on resale flats
Business Times – 25 Mar 2008 THE Housing and Development Board will introduce mandatory checklists for housing agents handling resale flat transactions from May 1 – a move welcomed by industry players. The checklists cover key policies and procedures that housing agents will need to advise resale flat buyers and sellers on before they commit [...]
Home, retail, office rental growth to ease
Business Times – 25 Mar 2008 Housing rentals to rise 5-15% year-on-year in 2008: Knight Frank PRIVATE housing rents are expected to grow at a slower pace this year than last year, Knight Frank said in a report yesterday. The property consultancy firm expects a year-on-year rise of 5-15 per cent in 2008 – after [...]
Don’t know what to do during the current property lull?
Business Times – 25 Mar 2008 PROPERTY EXPERTS GIVE SOME TIPS Seven tips for buying a second home Did you know, for example, that an HDB flat near an MRT station will give you a higher rental yield than most private properties? The importance of being earnest when going en bloc A major en bloc [...]
3,500 vied for 714 condo-like flats in Boon Keng, but only 460 sold
The Straits Times March 25, 2008 THOUSANDS of applications poured in for a condo-like Housing Board project in January – but as of last week, less than two-thirds of the flats had been taken up. About a third of the 714 units – or about 250 units – in City View @ Boon Keng remained [...]
US crisis deepens as home owners turn to short-term loans
The Straits Times March 25, 2008 Such ‘payday loans’ come with high interest rates, piling on the debts CLEVELAND (OHIO) – AS HUNDREDS of thousands of American home owners fall behind on their mortgage payments, more are turning to short-term loans with sky- high interest rates to get by. While hard figures are hard to [...]
Singapore inflation stays at 26-year high
The Straits Times March 25, 2008 Prices jump 6.5%, driven by higher food, transport and housing costs CONSUMER prices surged 6.5 per cent last month from a year ago, continuing a rate of increase not seen in 26 years. Food, transport and housing costs were again the main drivers as a confluence of external and [...]
Realising the Marina Bay vision
Business Times – 22 Mar 2008 CHING TUAN YEE and BENJAMIN NG reflect on the planning of Singapore’s most ambitious urban project and highlight the exciting developments in store for Singaporeans and visitors alike THE vision for Marina Bay is that of a high-quality, 24/7 live-work-play environment, one that encapsulates the essence of the global [...]
Business confidence takes a dive
Business Times – 24 Mar 2008 BT-UniSIM survey shows companies gloomy about next six months, despite strong orders (SINGAPORE) Business confidence in Singapore has slumped to its lowest level since end-2004, according to the latest business climate survey by The Business Times (BT) and SIM University (UniSIM). While sales and profit figures were largely unchanged [...]
Singapore interest rates likely to fall further
The Straits Times March 24, 2008 Fed cut and robust Sing$ could push interbank lending rate below 1% SINGAPOREANS can expect cheaper mortgages but lower savings and fixed deposit rates in the months to come. This is after a move by the United States Federal Reserve to slash a key US interest rate last week. [...]
PROPERTY: Muted market gives buyers more bargaining power
The Straits Times March 23, 2008 Prices aren’t tumbling but it’s a good time to get a unit at a reasonable price, say experts IT IS no secret that the residential property market is in a lacklustre mood. With many buyers and sellers having scurried to the sidelines as the United States sub-prime woes brought [...]
Behind latest Fed rate cut, inflation fears loom
The Straits Times – March 20, 2008 WASHINGTON – THE United States central bank cut interest rates by three-quarters of a percentage point to 2.25 per cent, less than widely expected but more than what some of its policymakers were comfortable with. Two of the 10 voting members of the Federal Open Market Committee opposed [...]
Strong demand in Asia seen slowing next year
Business Times – 20 Mar 2008 This poses risks as firm US recovery unlikely: consultancy (SINGAPORE) Domestic demand in Asian countries this year look strong, but may slow down in 2009. This may present risks to regional countries as the US economy is unlikely to make a strong recovery next year, according to consultancy firm [...]
Cheung Kong pips Far East in URA tender
Business Times – 20 Mar 2008 It offers $305psf ppr for West Coast condo plot next to Blue Horizon (SINGAPORE) Cheung Kong Holdings-linked Billion Rise yesterday pipped Far East Organization to emerge as top bidder for a 99-year leasehold condo site facing West Coast Park and overlooking the sea. Billion Rise’s bid of $110.44 million [...]
Foreigners snap up homes as rents start to bite
Business Times – 12 Mar 2008Their purchases could account for half of 2007 transactions on the secondary market (SINGAPORE) A record number of foreigners here have opted to purchase homes instead of renting them at ever-climbing rates. According to an analysis of transactions of private residential properties by DTZ Debenham Tie Leung, foreigners bought 6,536 [...]
Guocoland dives on options lapse
Business Times – 12 Mar 2008 Shares hit as Kuwaiti-linked fund pulls out of $815m property purchase SHARES of Guocoland fell victim yesterday to news that a fund company managed by Kuwait Finance House (Malaysia) Berhad (KFHMB) did not exercise options to buy $814.8 million worth of apartments in Guocoland’s upmarket project here. Following analysts’ [...]
Landed housing plot draws top bid of just $77.80 psf
Business Times – 12 Mar 2008 Only one other offer made; poor show seen as sign of uncertain market IN what is seen as a sign of an uncertain property market, a landed housing parcel in Jurong West drew only two bids, and a low top bid of $11.8 million – or just $77.80 per [...]
Wild swing reflects fears of US slowdown
Business Times – 12 Mar 2008 SHORT-COVERING and a late afternoon rebound on Nasdaq futures saw the Singapore market’s benchmark index chalking a remarkable 80-point turnaround in intra-day trading, first plunging to a new 16-month low, then rebounding to close in positive territory. Also boosting the market are expectations that the Federal Reserve may intervene [...]
Space crunch in Orchard pushes docs to Novena
March 12, 2008 The area could turn into medical hub as more private doctors set up clinics there PRIVATE doctors are flocking to the Novena area as the squeeze on clinic space in the Orchard Road belt tightens. The migration could turn the area into Singapore’s newest centre for private health services, some believe. In [...]
All eyes on govt land tenders this month
Business Times – 11 Mar 2008 $500m site above Serangoon MRT, 3 suburban housing plots on offer AMID the current quiet market, all eyes will be on four 99-year leasehold suburban Government Land Sale site tenders that close this month. They comprise three private residential sites including one for landed housing, and a ‘white’ site [...]
China’s growth story due for reality check
Business Times – 11 Mar 2008 Country may face headwinds of a US recession as its stock market, property sector cool THE beginning of Wen Jiabao’s second term seems remarkably similar to his first. In 2003, when Hu Jintao and Wen Jiabao, first took the helm as president and prime minister respectively, they were tested [...]
Economists trim S’pore Q1 growth forecast to 5.7%
Business Times – 11 Mar 2008 Q2 may see another dip before rebound kicks in; inflation likely to rise (SINGAPORE) Private sector economists have pared their forecasts of Singapore’s first quarter GDP growth to a median 5.7 per cent, from 7 per cent three months earlier. Economic growth is then expected to dip below 5 [...]
THE BOTTOM LINE: Fed slap in market face won’t work this time
Business Times – 11 Mar 2008LAST Friday’s employment report – which was so weak that it had many economists declaring that the US is already in a recession – was bad news. But it was actually less disturbing than what’s going on in the financial markets. The scariest thing I’ve read recently is a speech [...]
Investments push S’pore growth again
Business Times – 11 Mar 2008 But the biggest problem facing policy-makers is inflation; if it doesn’t stabilise, we may see more drastic steps SINGAPORE has enjoyed exceptionally strong and stable gross domestic product (GDP) growth in the last few years. For many years after 1997, Singapore’s economy had suffered volatile growth even as it [...]
Investors eye real estate after tough 2007
Business Times – 11 Mar 2008 Asian property and niche sectors are attracting assets (LONDON) Many investors in alternative assets plan to invest more in real estate after poor returns from the sector in 2007, a PricewaterhouseCoopers (PwC) survey showed yesterday. John Forbes, UK real estate leader at PwC, said some investors had been lured [...]
Ophir-Rochor corridor site to be marketed in France
Business Times – 11 Mar 2008 THE Urban Redevelopment Authority (URA) will market the first site in the new Ophir-Rochor corridor at the ‘Marche International des Professionals de L’Immobilier’ (MIPIM), a premier international property event in Cannes, France. The site will be launched for sale under the Confirmed List of the Government Land Sales Programme [...]
Opportunistic investors recoil from Asia property
Business Times – 11 Mar 2008 They see more scope for picking up cheaper properties in US, Europe; loans in Japan tougher (HONG KONG) Opportunistic investors are pulling back from Asian property because they see more scope for picking up distressed assets in the United States and Europe, and loans are harder to get in [...]
Rising market pressures may trigger third wave of credit crisis
Business Times – 11 Mar 2008 Nervous investors hanging on to pronouncements of central bankers (LONDON) Tight money markets and tumbling stocks and the US dollar are expected to increase worries for investors this week as pressure mounts on central banks facing what looks like the third wave of a global credit crisis. Last week, [...]
URA sets aside more land for offices
Business Times – 11 Mar 2008 (SINGAPORE) Singapore will provide more land for offices as part of a strategy to strengthen its position as an Asian financial centre, the government’s real estate planning agency said yesterday. ‘The new growth area set aside for the seamless extension of the existing financial district … will be more [...]
Kuwait fund pulls out of bulk purchase of high-end homes
March 11, 2008 It allows options for 97 condo units at Goodwood Residence to lapse A KUWAIT bank fund that agreed in December to buy 97 units at posh Goodwood Residence for $818.4 million has let the purchase option lapse. Kuwait Finance House has given no reason for the move, which could result in the [...]
Property investors set sights on market trough in US, Europe
March 11, 2008 HONG KONG – OPPORTUNISTIC investors are pulling back from Asian property because they see more scope for picking up distressed assets in the United States and Europe. Hedge funds have stopped dabbling in property in the region, fund managers say. Although private equity firms will continue to develop property in India and [...]
China faces ‘very severe’ unemployment
20m new jobseekers expected every year: labour minister (BEIJING) China’s labour minister yesterday admitted that the booming economy faced a ‘very severe’ unemployment situation as millions of new jobseekers join the market every year. The flood of new entrants in both urban and rural areas will continue for a long time, labour and social security [...]
Inflation likely to have hit 8.3% in Feb: Bank of China
Reports of bank’s estimate trigger speculation of interest rate hike (BEIJING) China’s inflation likely hit a new 11-year high of 8.3 per cent last month on the back of rising food prices, state media reported yesterday, triggering speculation of a modest hike in interest rates. Severe winter weather which crippled transport networks, and the Chinese [...]
India losing its status as world’s top outsourcing hub
China, Morocco and EEurope among new locations for global IT services providers INDIA’S position as the No. 1 low-cost outsourcing destination is under threat, with China, Morocco and eastern European nations such as Hungary emerging as the sought-after locations by nformation technology (IT) services providers, a recent study has shown. The study by Pierre Audoin [...]
When will market slide reach bottom?
Dow, S&P still remain above bear market threshold despite plunge (NEW YORK) Recession may well be here, given the dismal February employment report last Friday. But on Wall Street, many investors still are having a hard time deciding how worried they should be. The Dow Jones industrial average slid 146.70 points, or 1.2 per cent, [...]
Punggol River set for big change
Work starts on $7.13m project to create reservoir park with man-made island by 2010 WORK to transform the Punggol River into a scenic reservoir park, complete with a man-made island, got off the ground yesterday. Prime Minister Lee Hsien Loong, who was at the official opening of the adjoining Anchorvale Community Club in Sengkang, symbolically [...]
PROPERTY: Demand for single office units still going strong in quiet market
Investors turn more cautious, but small firms still interested in strata-titled officesALL has turned quiet on the housing front, but some other segments of the property market appear to have escaped that fate. Still going strong in particular are sales of single office units in larger commercial buildings. Known as strata-titled offices, these properties recorded [...]
PROPERTY: Demand for single office units still going strong in quiet market
Investors turn more cautious, but small firms still interested in strata-titled offices ALL has turned quiet on the housing front, but some other segments of the property market appear to have escaped that fate. Still going strong in particular are sales of single office units in larger commercial buildings. Known as strata-titled offices, these properties [...]
US employers cut 63,000 jobs in February
Payroll data indicate that probability of recession is more than 50 per cent (WASHINGTON) US employers cut payrolls for a second straight month during February, slashing 63,000 jobs for the biggest monthly decline in nearly five years as the nation’s labour markets weakened steadily, a government report yesterday showed. The Labor Department said that last [...]
Mortgage war breaks out as DBS and UOB offer new rates
Banks focusing on specific targets, waging battles without fanfare THE mortgage war finally erupted, as Singapore banks responded to a dramatic rate cut by Maybank three weeks ago – with one even offering a zero per cent package. That attractive deal comes from United Overseas Bank (UOB), which has relaunched a package with a teaser [...]
New rules ‘must keep sub-prime market open’
SPRINGFIELD (ILLINOIS) – LAWMAKERS must not be too heavy-handed as they react to the collapse of the United States sub-prime mortgage market and end up closing this source of credit forever, a senior Federal Reserve policymaker said yesterday. St Louis Fed president William Poole said the sub-prime market was now basically shut and might never [...]
