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Subscribe to this list via RSS Blog posts tagged in Luxury Residential Properties

Singapore no home for luxury developers as cooling measures bite

Posted by Property Launch Invest on Sunday, 11 May 2014 in Property News

Luxury property developers in Singapore are facing their worst sales outlook in six years as a raft of government measures to cool one of the world's most expensive real estate markets bite.

Sales of private homes, which account for just under one-fifth of the total property market, fell to their lowest in more than four years in January to March, official data showed this week. If the decline continues at the same pace for the rest of this year, analysts expect sales to halve from the 15,000 units sold in 2013.

Wanted: Ultra-rich property buyers

Posted by Property Launch Invest on Sunday, 11 May 2014 in Property News

Singapore ranks fourth among cities wooing the upper crust to invest in real estate, having attracted US$217b

SINGAPORE, long seen as a real-estate haven for the ultra-rich, has joined the league of top five cities in wooing the rich into putting their money into brick and mortar.

The biggest magnet is Hong Kong, which has attracted US$798 billion in real estate holdings from ultra high net worth individuals (UHNWI). London is second with US$676 billion, followed by Moscow (US$263 billion), Singapore (US$217 billion) and New York (US$164 billion).

Rents for posh apartments to fall 10% this year

Posted by Property Launch Invest on Sunday, 27 April 2014 in Property News

Developers are pressured by Qualifying Certificate deadline.

According to Colliers International, rents are expected to come under further downward pressure. The increasingly competitive market could prompt landlords to lower their rent expectations in order to secure tenants. As such, rents for luxury apartments are projected to decline by up to 10% for the whole of 2014.

Here's more:

Developers of high-end properties may feel the heat to meet the Qualifying Certificate deadline, which requires developers whose shareholders and directors are not all Singaporeans, to complete construction of the development within five years and to sell all units within two years of obtaining the temporary occupation permit.

Furthermore, owners of high-end homes face higher holding costs with the kicking in of the progressive fiscal system on 1 January 2014.

Particularly for investors who are servicing mortgages, the abolishment of tax concessions for vacant properties, as well as higher taxes for high-end properties on the back of a weak leasing market, could be a push factor, prompting them to put their properties on the market for sale, adding to the pool of new unsold units.

The heightened competition could weigh on prices of high-end/luxury residential properties for which an average decline of between 10% and 15% could be seen in 2014.

Source: Singapore Business Review 23rd April 2014

PROPERTY LAUNCHES & INVESTMENTS

Property Launches & Investments

Singapore no home for luxury developers as cooling measures bite

Wanted: Ultra-rich property buyers

Rents for posh apartments to fall 10% this year