Recent blog posts - Property Launches & Investments

Household debt: Singapore’s ‘Achilles heel’?

Posted by Property Launch Invest on Saturday, 28 September 2013 in Property News

Roslan Rahman | AFP | Getty Images

Pedestrians walk down a street in downtown financial district in Singapore.

Singapore stepped up efforts to contain a rapid increase in household debt by tightening rules around unsecured credit late Wednesday – a move viewed by economists as a preemptive strike ahead of a rise in borrowing costs in the country.

"The central bank is being pre-emptive. Taken together with the previous measures announced, including the Total Debt Servicing Ratio (TDSR) framework for property loans, they will likely be effective," Michael Wan, economist at Credit Suisse told CNBC on Thursday, referring to a measure which caps monthly mortgage payments to 60 percent of a borrower's monthly income.

EC market heats up under new loan rules

Posted by Property Launch Invest on Saturday, 28 September 2013 in Property News

Buyers flocked to the latest two executive condominiums (ECs) to hit the market after new mortgage lending rules introduced in June dampened buying interest in private properties.

Analysts attributed the demand to the way Housing Board rules are structured that make it easier for buyers of ECs to seek the maximum loan quantum under the new lending rules, compared with private properties. ECs are a hybrid of private-public housing sold with HDB restrictions, but turn private after 10 years.

HDB grant extension could hit resales

Posted by Property Launch Invest on Saturday, 28 September 2013 in Property News

THE stagnant resale market for public flats could be hit further when housing grants are extended to middle-income households, according to property analysts.

The grants will make a new four-room Housing Board flat even cheaper, and that could lure away potential resale flat buyers.

Singapore now Asia's largest forex centre

Posted by Property Launch Invest on Saturday, 28 September 2013 in Property News

SINGAPORE has leapfrogged Tokyo over the past three years to become the largest foreign exchange centre in Asia.

Globally, it is now the third-largest forex centre, behind London and New York, said the Bank for International Settlements (BIS).

Singapore now Asia's largest forex centre A view of the Marina Bay Financial Centre.

Singapore's average daily forex turnover hit US$383 billion (S$489 billion) in April. -- ST PHOTO: DESMOND WEE

4 Outrageous Claims Made by Property “Experts”

Posted by Property Launch Invest on Saturday, 28 September 2013 in Property News

By Gerald Tay (guest contributor)

A Business Times article titled “Property Investment Seminars on CEA Rader” was recently published, where PropNex Reality Chief Executive Mohamed Ismail said: “There’s a need for the authorities to regulate the content and claims by these speakers.” I support Mr. Ismail’s call for the authorities to tighten the content and claims made by these speakers, be it in property, stocks, or commodities investment.

More Singaporeans looking at overseas property investments.

Singapore population at 5.4m in June, up 1.6%

Posted by Property Launch Invest on Friday, 27 September 2013 in Property News

SINGAPORE'S population stood at 5.4 million in June, a 1.6 per cent rise from the previous mark of 5.31 million.

The increase, however, was the smallest growth in the past nine years, said the National Population and Talent Division in its annual Population in Brief report released on Thursday.

There was also some good news on the ongoing push to encourage Singaporeans to have more babies.

The resident total fertility rate increased from 1.2 in 2011 to 1.29 last year, with improvements seen across all ethnic groups.

Population growth

Source: BusinessTimes 26th September

Are Singapore home prices about to ease, finally ?

Posted by Property Launch Invest on Friday, 27 September 2013 in Property News

Has Singapore's government finally pulled the right plug on the homeprice surges bedeviling the city-state? The government late Tuesday issued another round of cooling measures for its real estate sector, this time targeting the subsidized public housing market – known as Housing Development Board (HDB) apartments – which house 80 percent of the country's citizens.

Singapore home prices could fall 20% by 2015: Barclays

Posted by Property Launch Invest on Friday, 27 September 2013 in Property News

Residential property prices in the wealthy island nation of Singapore could be headed for a sizable correction of up to 20 percent by 2015, according to Barclays.

"We believe the risk of a residential property market correction in the next two years is rising, as expected higher interest rates look set to coincide with a large increase in housing supply over 2014-15," Tricia Song, analyst at Barclays wrote in a report on Friday.

Crowded Singapore looks below for room to grow

Posted by Property Launch Invest on Friday, 27 September 2013 in Property News

Singapore, with a little less land mass than New York City, is running out of room for its 5.4 million people.

The city-state has built upward — with apartment buildings reaching as high as 70 stories — reclaimed underused properties for housing and pushed out coastlines for more usable land.

But as one of the world's most crowded cities, and with projections for 1.5 million more people in the next 15 years, Singapore's options are as limited as its space. So Singapore is considering a novel solution: building underground to create an extensive, interconnected city, with shopping malls, transportation hubs, public spaces, pedestrian links and even cycling lanes.

Redas chief sees bright future for property sector

Posted by Property Launch Invest on Friday, 27 September 2013 in Property News

The head of the property developers' body yesterday said the future shines bright with exciting possibilities, even as the property market takes its course through the cycle of business.

Speaking at the Real Estate Developers' Association of Singapore's (Redas) mid-autumn celebration, its president, Chia Boon Kuah, also said Redas planned to increase its public engagement in several areas including offering ideas to the authorities on new plans for Tanjong Pagar and Paya Lebar.

Rents for office space likely to rise: Report

Posted by Property Launch Invest on Friday, 27 September 2013 in Property News

Office landlords seem to have enjoyed a recovery in this quarter with higher rents on the cards, according to a new report yesterday.

The demand for space is coming from small- and medium-sized enterprises (SMEs), mainly in non-financial industries such as media, information and communications, and businesses in professional and business services.

CapitaLand's not-so-small about turn

Posted by Property Launch Invest on Friday, 27 September 2013 in Property News

Market forces appear to have brought about a sea change at CapitaLand, whose former boss once famously decried shoebox units as being "almost inhuman".

The giant developer is now building homes that are smaller than 500 sq ft - shoebox size, in other words - to lure buyers seeking lower total price quantums.

Gone, too, are brand-name foreign designers for its residential projects.

Strata retail volumes plunge to lowest since Q4 2011: DTZ

Posted by Property Launch Invest on Friday, 27 September 2013 in Property News

Transaction volumes for strata-titled retail properties in the third quarter are at their lowest level in nearly two years, following the implementation of a Total Debt Servicing Ratio (TDSR) framework at the end of June.

The 126 units that changed hands in Q3 was a 60 per cent plunge from the 382 units sold in the previous quarter. It was the lowest number of strata-titled retail transactions since Q4 2011, when 122 retail properties were transacted.

Two malls go on sale

Posted by Property Launch Invest on Friday, 27 September 2013 in Property News

Serangoon Plaza (pictured) has been put up for collective sale, revealed Savills Singapore.

The five-storey complex at 320 Serangoon Road comprises 128 units of retail and office space. With an area of around 68,521 sq ft and plot ratio of 3.0 under the 2008 Master Plan, the site has been zoned commercial.

Freehold bungalow on sale for over $30m

Posted by Property Launch Invest on Friday, 27 September 2013 in Property News

A three-storey freehold bungalow along Jervois Road in District 10 has been put up for sale by tender, according to marketing agent Knight Frank.

With a land area of around 14,824 sq ft, the site is zoned residential with a gross plot ratio of 1.4 and a height limit of five-storeys under the 2008 Master Plan. Built in 1993, the bungalow is designed in period architecture and comprises six bedrooms, a basement entertainment room, rooftop open terrace and commercial stainless steel kitchen among others.

House of Tan Yeok Nee may sell for below $90m

Posted by Property Launch Invest on Friday, 27 September 2013 in Property News

The House of Tan Yeok Nee (pictured) is being sold for under S$90 million, with Pua Seck Guan's Perennial Real Estate Holdings tipped as the buyer, media reports said.

Restored in 2000, the gazetted national monument along Penang Road is being sold by ERC Holding's special purpose vehicle, which is controlled by Andy Ong. In 2012, Ong purchased the property for over S$60 million from German fund manager Union Investment Real Estate AG.

Wave of newly-completed condominiums drives down rents

Posted by Property Launch Invest on Thursday, 26 September 2013 in Property News

By Cheryl Ong

A wave of newly completed condominiums is bumping up the supply of rental homes in the market, forcing landlords to lower their asking rents to beat the stiff competition.

More cuts might be on the way as the number of private homes to be completed this year is projected to jump 62 per cent from last year, property consultants say.

EC site attracts 16 bids

Posted by Property Launch Invest on Thursday, 26 September 2013 in Property News

The tender for three executive condominium housing development sites closed on Tuesday with the land parcel at Yuan Ching Road drawing a whopping 16 bids.

SINGAPORE: The tender for three executive condominium housing development sites closed on Tuesday with the land parcel at Yuan Ching Road drawing a whopping 16 bids.

This is the highest number of bids for an executive condominium (EC) site in 16 years.

Analysts Channel NewsAsia spoke to said the Boon Lay drive EC site drew 19 bids back in 1997.

75% of S'pore home buyers delaying property purchases

Posted by Property Launch Invest on Thursday, 26 September 2013 in Property News

74 per cent of Singapore home buyers are delaying their property purchases, and 59 per cent of the respondents surveyed are confident prices will not decline.

SINGAPORE: 74 per cent of Singapore home buyers are delaying their property purchases, and 59 per cent of the respondents surveyed are confident prices will not decline.

According to a recent survey conducted by property website iProperty Group, 60 per cent of the Singapore respondents have called for additional cooling measures. This compares to 27 per cent who do not want further cooling measures.

NDR 2013: Paya Lebar Airbase to be moved to Changi, area freed up for homes and industry

Posted by Property Launch Invest on Thursday, 26 September 2013 in Property News

An F-15SG fighter of 149 Squadron rolling down the runway at Paya Lebar Airbase before take-off on June 24, 2013. A new military airbase and a fourth runway will be built at Changi East, Prime Minister Lee Hsien Loong said in his National Day Rally speech on Sunday, Aug18 2013

A new military airbase and a fourth runway will be built at Changi East, Prime Minister Lee Hsien Loong said in his National Day Rally speech on Sunday.

Paya Lebar Airbase will be moved there later on. This will free up an area bigger than Bishan and Toa Payoh - around 800 ha - for new homes, offices, and factories.

PROPERTY LAUNCHES & INVESTMENTS

Property Launches & Investments

The tender for three executive condominium housing development sites closed on Tuesday with the land parcel at Yuan Ching Road drawing a whopping 16 bids.

74 per cent of Singapore home buyers are delaying their property purchases, and 59 per cent of the respondents surveyed are confident prices will not decline.