Recent blog posts - Property Launches & Investments

Asian currencies hammered, with worse to come

Posted by Property Launch Invest on Tuesday, 18 August 2015 in Property News

Chinese's surprise move to devalue the yuan, a looming Federal Reserve interest rate hike and weakening economic momentum in the region have created a perfect storm for Asian currencies, say analysts, who warn investors to brace for an extended period of volatility ahead.

Regional currencies suffered a second day of heavy losses on Wednesday as the People's Bank of China (PBoC) set its daily midpoint reference rate even weaker than Tuesday's devaluation, rekindling concerns around the health of the world's second largest economy.

Why investors are snubbing Malaysian 'bargains'

Posted by Property Launch Invest on Monday, 17 August 2015 in Property News

Malaysia's stocks and currency have tumbled but bargain buyers don't appear likely to step up any time soon as foreign investors remain leery, analysts said.

"Our economists are constructive on Malaysia's medium-term prospects," Khoon Goh, senior foreign-exchange strategist at ANZ, said in a note Wednesday. "Unfortunately, the fundamentals are being overshadowed by domestic political developments that have soured sentiment towards Malaysian assets."

Why the yuan may deck Singapore property stocks

Posted by Property Launch Invest on Monday, 17 August 2015 in Property News

Singapore's property shares, already on the back foot from expectations of rising interest rates, have taken a beating since China devalued its currency on Tuesday and more pain may be on the cards.

"Given that the majority of property stocks with China exposure do not hedge the currency exposures of their incomes and balance sheets, a weaker renminbi suggests that both asset values and earnings/dividends would be negatively affected," analysts at JPMorgan said in a note Wednesday. "Book values and dividend per unit (DPU) would be affected."

Balance units for new launched condo since 2014

Posted by Property Launch Invest on Monday, 10 August 2015 in Property News

Since January 2014, developers have launched 42 private condos. 2014 was a tough year as the Cooling Measures drove down price and transaction volume.

How has each of the 42 new launches performed?

'Dark condos' point to supply overhang

Posted by Property Launch Invest on Tuesday, 28 July 2015 in Property News

A YEAR after lensmen from The Business Times put together a photo essay on "dark condos" to highlight the rising vacancies in the private housing market, they have gone in search of an update of the situation.

In May, they returned to the same 10 completed condo projects they photographed a year ago to capture these developments, as far as possible, from the same angles .

They even went at around the same time - between 8 pm and 9.30 pm on a weekday, before the school holidays, when people could reasonably be expected to be home.

Big luxury condos: A rare species

Posted by Property Launch Invest on Tuesday, 28 July 2015 in Property News

In land-constrained Singapore, big units of over 2,000 sq ft are attractive to investors due to their scarcity.

The stock for such units is limited, and new supply is expected to diminish over time.

Condominium developments with apartments exceeding 2,000 sq ft are mostly located in prime districts 9, 10 and 11.

Besides Ardmore Park condo that comprises more than 300 large units, most of these are found in developments with fewer than 100 units each.

No quick recovery for Singapore property market

Posted by Property Launch Invest on Thursday, 16 July 2015 in Property News

As Singapore faces a "new normal" of slower growth and even stagnation risks, the property market is unlikely to stage a major rebound even if some cooling measures are relaxed now, market watchers said at a property seminar on Tuesday.

Chua Hak Bin, head of emerging Asia economics at Bank of America Merrill Lynch, warned that Singapore may enter a period of stagnation over the next couple of years.

Economic growth key to Singapore's property fortunes

Posted by Property Launch Invest on Thursday, 16 July 2015 in Property News

There's no denying that private property prices in Singapore are on a downward trend; they have been falling for seven straight quarters.

Last week, the flash estimates for the second quarter were released, showing a 0.9 per cent drop in private home prices.

Invariably, with each quarter's release, the debate gets resurrected to some degree about whether the existing cooling measures have served their purpose and are due for a review.

HDB to raise income ceilings for BTO flats, ECs

Posted by Property Launch Invest on Monday, 13 July 2015 in Property News

SINGAPORE — The Housing and Development Board (HDB) will raise the income ceilings — for the second time since 2011 — for Build-To-Order (BTO) flats and Executive Condominiums (ECs), said National Development Minister Khaw Boon Wan yesterday, as he looks to “give every Singaporean couple a chance” to live in an HDB flat even though they may have greater means and do not need Government-subsidised housing.

Convert a $3.2 million property loss to a $1.5 million gain

Posted by Property Launch Invest on Tuesday, 30 June 2015 in Property News

When an overseas buyer invests in a Singapore property, he (or she) is converting his home currency into Singapore dollar.

As such, he is taking a currency bet.

Top bid for private home site in Queenstown

Posted by Property Launch Invest on Saturday, 27 June 2015 in Property News

SINGAPORE: A private residential site at Dundee Road next to Queenstown MRT station received nine bids from developers at the close of tender yesterday (23 Jun).

The 99 year leasehold site has a site area of 113,194 sq ft and could house around 645 residential units.

Singapore private property prices could fall another 10% over next two years: BNP

Posted by Property Launch Invest on Thursday, 25 June 2015 in Property News

SINGAPORE - Private property prices in Singapore could fall a further 10 per cent from current levels over the next two years, French bank BNP Paribas said in a research report on Monday.

Although prices have fallen 5.5 per cent from their mid-2013 peak, BNP Paribas said that a "closer look at valuation metrics and underlying drivers" shows the market has further to correct before a bottom can be called.

Singapore's residential supply glut exacerbated by unyielding immigration stance

Posted by Property Launch Invest on Tuesday, 23 June 2015 in Property News

Who will buy homes without foreigners and PRs?

The oversupply in Singapore's private residential property market is being aggravated by the government's tight stance on immigration, a report by BNP Paribas said.

Key rates for mortgages, business lending fall

Posted by Property Launch Invest on Monday, 22 June 2015 in Property News

Two key interest rates affecting business loans and mortgages have fallen from their 2015 peaks.

But experts say this is likely temporary relief as positive United States jobs data on Friday and a stronger greenback have reinforced expectations of an interest rate hike this year.

The three-month swap offer rate (SOR), commonly used to price commercial loans, fell 25 per cent to 0.84886 per cent on Friday from a year-high of 1.13207 per cent on March 24, while the six-month SOR fell nearly 22 per cent to 1.01130 per cent from a year-high of 1.29498 per cent on March 23.

Unsold homes big drag on developers' coffers

Posted by Property Launch Invest on Monday, 22 June 2015 in Property News

Developers have collectively paid up to $55.1 million in extension fees for unsold units in their private condo projects since 2012. They could potentially fork out another $80.7 million to extend the sales period for another year if they do not sell their inventory by year-end.

A total of 24 condo projects, mostly high-end ones, are still not fully sold two years after receiving their temporary occupation permits (TOPs) between 2010 and 2012, the study showed. Under the government's Qualifying Certificate (QC) rules, developers have to pay extension charges to extend the sales period after two years of the project's TOP.

Government seen maintaining supply of private housing land in H2

Posted by Property Launch Invest on Monday, 22 June 2015 in Property News

Property consultants generally expect the authorities to either maintain the supply of private housing land for the second half of this year around the same level as H1 2015, or trim it slightly.

The government is likely to weigh the substantial supply pipeline of new homes against the fact that developers are still demonstrating a healthy appetite for land at state tenders albeit at lower land bids.

However, some property consultants forecast that the Ministry of National Development (MND) may cut the supply of private homes in the confirmed list while increasing supply in the reserve list - to avoid exacerbating the housing glut.

Have Singapore’s luxury homes hit rock bottom?

Posted by Property Launch Invest on Monday, 22 June 2015 in Property News

Overbuilding in Singapore's luxury homes sector spurred a flurry of doomsday scenarios, but prices may have already hit bottom, with buyers beginning to nibble.

"We are seeing a number of our clients coming back very seriously this time around," said Chandran V R, managing director at property agent CRE. "We are currently serving buyers in the market for luxury apartments. A lot of them are very ready to make a move because they feel buying has corrected and if they wait too long, the market can take off."

Singapore property cooling measures could be reviewed at year-end: UOB

Posted by Property Launch Invest on Sunday, 21 June 2015 in Property News

THE Singapore government could potentially review its property cooling measures towards the end of this year, said UOB in a research note on Friday.

UOB said that a relaxation in seller's stamp duty (SSD) and selected reductions in additional buyer's stamp duty (ABSD) rates for Singaporeans may be likely, given the bank's expectation of a 5 to 10 per cent correction in housing prices this year.

Singapore Offices Expensive as New Towers Vie for Tenants

Posted by Property Launch Invest on Friday, 19 June 2015 in Property News

Singapore’s office market is expensive compared with Australia and Japan because of a space glut and slowing rental growth, according to Union Investment, Germany’s largest fund manager.

Office rents peaked in the first quarter as the city-state’s economic growth shows signs of tapering, according to Cushman & Wakefield Inc. Grade A office rents in the central business district could slide 14 percent over the next two years to S$9.12 per square foot per month from S$10.60 per square foot, Cushman estimates.

Government Land Sales GLS- Holland Road

Posted by Property Launch Invest on Wednesday, 17 June 2015 in Property News

HOLLAND VILLAGE – MORE TO LOVE

Holland Village is one of Singapore’s most distinctive lifestyle destinations set amidst winding narrow lanes and low-rise shophouses. It has an urban village feel distinguished by its laid-back daytime allure contrasted with a magnetic dining scene at night. Residents and visitors alike currently mingle, socialise and celebrate amidst the wide-ranging and eclectic mix of shops and restaurants in the area that contributes to Holland Village’s unique place identity.

PROPERTY LAUNCHES & INVESTMENTS

Property Launches & Investments