Recent blog posts - Property Launches & Investments

EC buyer's buying power hit

Posted by Property Launch Invest on Wednesday, 11 December 2013 in Property News

The government's revision of the executive condominium (EC) scheme will see developers being more mindful of a buyer's income ceiling and the project's affordability.

"Affordability of ECs will be hit by the new mortgage servicing ratio (MSR) which is capped at 30 percent of the buyer's gross monthly income (previously, this only applied to HDB BTO and resale flats)," said Mohamed Ismail, CEO of PropNex Realty.

Singapore’s population growth slowest in 9 years

Posted by Property Launch Invest on Wednesday, 11 December 2013 in Property News

Citizen population up by 0.9 per cent to 3.31 million; continues to grow older. Total population reaches 5.4 million as at end-June, a rise of 1.6 % over the last year

SINGAPORE — The total population here grew over last year at its slowest pace since 2004, partly due to tightened foreign manpower policies and weaker economic conditions. A bright spot was the Total Fertility Rate (TFR) inching up to a five-year high, thanks to the “Dragon Year effect”.

As at end-June, Singapore’s total population stood at 5.4 million — a rise of 1.6 per cent over last year.

New DBS loan a big hit with HDB flat owners

Posted by Property Launch Invest on Wednesday, 11 December 2013 in Property News

[SINGAPORE] Thousands of HDB homeowners are turning to DBS Bank for a mortgage product that guarantees savings.

Those who took up a POSB HDB loan when it was launched in April could be looking at savings of as much as $1,600 by next month, calculations from DBS showed.

According to Lui Su Kian, DBS's head of deposits and secured lending, the POSB HDB loan has attracted "five times more new customers than a year ago", making up for some of the slack in the private-home loan market.

Borrowing rises - but at a slower rate

Posted by Property Launch Invest on Wednesday, 11 December 2013 in Property News

SINGAPORE - Consumers and businesses borrowed more from banks in August than they did in the same month last year although recent new rules on lending appear to be reining in loan growth.

Total bank lending, regarded as a key indicator of economic activity, grew 15.4 per cent to $540.8billion in August compared with the same month last year, according to preliminary Monetary Authority of Singapore figures yesterday.

Singapore CBD is home to world's biggest vertical garden

Posted by Property Launch Invest on Wednesday, 11 December 2013 in Property News

THE world's largest vertical garden can now be found in the heart of Singapore's Central Business District (CBD). Standing 19 metres high and 110 metres wide - as big as eight tennis courts - this green wall of plants belonging to Ocean Financial Centre is a curtain made up of 51,000 potted plants of 25 species. The pots have been arranged to make up a map of Singapore, South-east Asia and the world.

The wall serves a purpose beyond the aesthetic. It is designed to reduce the surface temperature of OFC's carpark, which sits behind the wall of green. It is also a green lung which filters out vehicular emissions and provides visual relief from the dense concrete landscape of the CBD.

Proprietary landscaping designs have been adopted to secure the pots of plants in place; an automatic irrigation and fertilisation system ensures minimal maintenance.

Exterior facade of Ocean Financial Centre’s multi-storey carpark at Collyer Quay

Source: 22th October 2013 Straits Times

Construction boom, but challenges loom

Posted by Property Launch Invest on Wednesday, 11 December 2013 in Property News

SINGAPORE - The construction boom shows no signs of ending any time soon, but a shortage of workers means projects may cost more and take longer to complete.

Experts say the strong construction demand is expected to continue with many big projects in the pipeline, including public housing and infrastructure works such as the MRT's Thomson Line.

While this is good news for the industry, contractors say they are struggling to cope with the manpower shortage.

Land supply should be at a pace that would contribute to the overall health of the market

Posted by Property Launch Invest on Wednesday, 11 December 2013 in Property News

CHALLENGES in the real estate market continue to worry association members, said Chia Boon Kuah, president of the Real Estate Developers Association of Singapore (Redas), at its 54th annual dinner last night.

"Against a backdrop of market volatility and a maturing real estate cycle, we have had to manage the unfolding effects of the government's seventh round of cooling measures, and the introduction of the total debt servicing ratio.

Lacklustre response to CBD building light-up scheme

Posted by Property Launch Invest on Wednesday, 11 December 2013 in Property News

The Government's cash scheme to light up some Central Business District and Marina Centre buildings has had few takers, even as the authorities scrapped a parallel scheme that may have been more popular.

There have been only three approved applicants for the cash grant since it was introduced in 2006 by the Urban Redevelopment Authority to encourage building owners in the Marina Bay area to light up their properties' fronts to make Singapore's skyline more attractive.

Targeted cooling measures would be more effective

Posted by Property Launch Invest on Wednesday, 11 December 2013 in Property News

Curbs such as ABSD and TDSR do not seem to have produced the desired results

Housing loans

Completed private residences

Loans granted to homes under construction

THE first part of this article last week concluded that the Singapore household balance sheet is rock solid: household net worth is increasing because household assets such as shares, CPF, currencies and savings are increasing more than household debt.

Big chance of big changes with big projects

Posted by Property Launch Invest on Wednesday, 11 December 2013 in Property News

Wave of projects can pave way for more tech, less labour: BCA chief

SINGAPORE’S upcoming wave of mega projects is a golden opportunity to change how buildings are built here – especially when it comes to reducing the need for labour.

This was a point stressed by Building and Construction Authority (BCA) chief executive John Keung in a recent interview with The Straits Times, as he laid out the exciting challenges facing the construction industry in the next two decades.

S'pore banks can take 50% property price dive

Posted by Property Launch Invest on Wednesday, 11 December 2013 in Property News

IMF team involved in stress tests flags risks from jump in credit, real estate prices

[SINGAPORE] Singapore banks are so well-buffered that they will be able to withstand even a 50 per cent plunge in property prices here if this were to occur over the next two years, say stress tests done by the International Monetary Fund (IMF) and the Monetary Authority of Singapore (MAS).

The tests were performed as part of the IMF's Financial Sector Assessment Programme (FSAP), which the Fund undertakes every five years with the world's major financial centres, of which Singapore is one.

Will Olympics boost Japan's property market?

Posted by Property Launch Invest on Wednesday, 11 December 2013 in Property News

Abenomics sets stage for recovery and demand for real estate could rise too

SINCE Tokyo was selected to host the 2020 Olympics, Japan has been riding a wave of elation. The Nikkei rose 2.5 per cent following the announcement, with construction stocks being the notable beneficiaries.

The Olympics boost came just in time. One year after Prime Minister Shinzo Abe's Abenomics was introduced, Japan's economy is seeing a revitalisation after more than two decades of stagnation.

Analysts pick stocks set to gain from URA plan

Posted by Property Launch Invest on Wednesday, 11 December 2013 in Property News

Well-placed developers, construction firms and Reits may stand to benefit

STOCK analysts have been rushing to pick winners since the Urban Redevelopment Authority (URA) unveiled its Draft Master Plan 2013 this week.

The plan outlines how Singapore would develop over the next decade, and some well-placed companies could benefit from the changes ahead.

New Marina South draws keen interest

Posted by Property Launch Invest on Wednesday, 11 December 2013 in Property News

THE planned new district of Marina South with its promise of green touches such as bike paths and a vibrant street scene is already generating keen interest.

Office workers and joggers who flock to nearby Marina Bay in the evening say they are looking forward to new dining options as well as longer, more scenic jogging routes.

Be clear on Soho, URA tells developers

Posted by Property Launch Invest on Wednesday, 11 December 2013 in Property News

Units marketed as such may be a home or an office - but not both

DEVELOPERS here have been warned to be careful when marketing properties as "small office home office", or Soho units.

They should make it clear to buyers that the term Soho does not refer to any official planning status, said the Urban Redevelopment Authority (URA) in a circular yesterday.

Units marketed as Soho have planning permission for either residential or office use, but not for both, the URA said.

Plan to link Punggol to other towns via semi-highway

Posted by Property Launch Invest on Wednesday, 11 December 2013 in Property News

A new semi-expressway could be built in Punggol, to link the estate to other towns in the north and east, including Seletar and Pasir Ris.

The proposed road will serve the northern part of Punggol, which will be home to several housing districts, education institutions and commercial activities once it is fully developed.

In its Draft Masterplan 2013, the Urban Redevelopment Authority (URA) said the semi-expressway will "increase east- west connectivity".

Cap on subletting of flats to foreigners soon

Posted by Property Launch Invest on Wednesday, 11 December 2013 in Property News

SINGAPORE - Up to 18 per cent of units in some Housing Board blocks are now wholly sublet to foreigners, even as the authorities are deciding on the cap to put on this figure.

This is to keep foreign enclaves from forming, National Development Minister Khaw Boon Wan said in a blog post last Friday.

"We will soon decide on an appropriate cap," he said. HDB said the board and the Ministry of National Development (MND) are aiming to finalise details soon.

The aim is to spread foreigners more evenly across the country. Now, over 35,000 units are entirely sublet to foreigners, excluding Malaysians - accounting for less than 4 per cent of all public flats.

But concentrations in certain areas drove the proportion up to 9 per cent in those neighbourhoods, "or even 18 per cent in some blocks", noted Mr Khaw.

Figures for subletting of entire flats came after HDB did an analysis of the subletting situation.

Property cooling moves show results

Posted by Property Launch Invest on Wednesday, 11 December 2013 in Property News

Spotlight on singapore private residential market

The government's measures to cool the residential property market have had significant impact: Transaction volumes have plunged, new home loan sales have contracted and loan-to-value (LTV) ratios have improved.

"The series of property-related measures taken by the government over the past few years has dampened momentum in the market," said the Monetary Authority of Singapore Financial Stability Review 2013 yesterday.

But the government remains vigilant as price levels remain high, it said.

S'pore 'financial system healthy but risks remain'

Posted by Property Launch Invest on Wednesday, 11 December 2013 in Property News

Singapore's financial system - from household balance sheets to corporate lending - remains in sound shape, but challenges lie ahead.

The assessment came from the Monetary Authority of Singapore (MAS), which released its annual report card on the sector on Tuesday. There were plenty of positives, but the regulator warned of considerable risks ahead, including sharply higher interest rates.

Downtown at Marina Bay- A distinctive and Global location for Business, Living, working and Leisure

Posted by Property Launch Invest on Wednesday, 11 December 2013 in Property News

The Urban Redevelopment Authority's (URA) latest master plan for the Downtown @ Marina Bay aims to make Singapore's international business and financial hub a distinctive and global location for business, living, working and leisure.
The Downtown @ Marina Bay extends Singapore's Central Business District seamlessly around the Bay from the existing Raffles Place, Shenton Way and Marina Centre.

A Great Place for Business

Prestigious address for future business and financial institutions

PROPERTY LAUNCHES & INVESTMENTS

Property Launches & Investments

Curbs such as ABSD and TDSR do not seem to have produced the desired results

Abenomics sets stage for recovery and demand for real estate could rise too

Units marketed as such may be a home or an office - but not both