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RN53
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PostPosted: Wed May 15, 2013 6:13 pm    Post subject: SG housing heading where? Reply with quote

http://www.propertyguru.com.sg/proper...turn-says-develop
S'pore housing heading for a downturn, says developer
May 15, 2013 - PropertyGuru.com.sg

With a surge of new homes coming on to the market, Singapore’s housing sector will soon become a buyer’s market as developers continue to provide attractive incentives, according to experts.

Chris Comer, CEO of Castlewood Group, the developer of Nikki Beach properties around Asia, said: “It’s going to be a renters’ market here for a very long time.”

In a Wall Street Journal report, Singapore resident Comer reckoned that a downturn could hit Singapore in the next 12 months, and “you’ll start to see properties resold for less than they paid for them”.

Other analysts do not see a bubble, but have warned of an oversupply instead, which will likely cut prices and rents.

In an earlier report, Nomura said that 16,000 new private homes would be delivered in the next three quarters compared with 2,408 in Q1.

“Supply is likely to outstrip demand and vacancy (and rents) will likely come under more pressure in the coming quarters.”

Concurring, Daiwa analyst David Lum acknowledged the possibility of a supply glut, highlighting that some 86,000 private homes were in the pipeline by end-2012. This is in addition to the influx of HDB flats set to enter the market between 2014 to 2016.

He added that this would lead to an 18 percent decline in mass market home prices and 20 percent in the luxury segment through to end-2015.

Tough measures hurting resale market: analysts
http://www.propertyguru.com.sg/proper...e-market-analysts

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Kon
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PostPosted: Wed May 15, 2013 7:46 pm    Post subject: Reply with quote

Looks more like conflict of interest, he spread Property Downturn so people will invest in his "hotel business" instead....
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RN53
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PostPosted: Thu May 23, 2013 8:52 pm    Post subject: Reply with quote

Weak demand for resale property to continue: DTZ
http://www.propertyguru.com.sg/proper...mpaign=news-daily

By Nikki De Guzman:

Singapore saw a sharp decline in residential resale volumes across all segments in the first quarter of 2013, according to a DTZ report.

The quarterly and year-on-year drop is a “stark contrast” to 2012, when resale deals rebounded following the introduction of the additional buyer’s stamp duty (ABSD).

“The recovery in resale volume last year was due to buyers finding better value in the resale market after some projects in the primary market set benchmark prices. In comparison, developers were more competitive in their pricing strategies this year and the latest round of cooling measures in January 2013 were more comprehensive than that in December 2011. The mismatch in the expectations between buyers and sellers could also have contributed to the weak resale volume,” said DTZ.

In terms of buyer profiles, foreigners accounted for 9.9 percent of all transactions in Q1 this year, up from an average of 6.4 percent in 2012.

However, demand from local buyers fell as they are now required to pay ABSD for their second and subsequent properties.

“Buying behaviour varied among non-Singaporean groups in the resale market. Firstly, purchases by USA nationals remained resilient, especially so in the high-end segment, as they are not subject to the 15 percent ABSD for foreigners. Transactions by Indonesian buyers in the high-end segment however fell. In comparison, demand from mainland Chinese buyers held up well across most price segments, except for those costing below S$1 million.”

Moving forward, DTZ expects the resale market to underperform as there are no discounts being offered unlike in the primary market. Buyer activity is also expected to be lower due to higher stamp duties, weaker rental growth and stricter financing regulations.



Nikki De Guzman, Junior Reporter at PropertyGuru, wrote this story. To contact her about this or other stories email nikki@allproperty.com.sg

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Garu Boy
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PostPosted: Fri Jun 07, 2013 6:12 pm    Post subject: Reply with quote

Kon wrote:
Looks more like conflict of interest, he spread Property Downturn so people will invest in his "hotel business" instead....

Developer doing mixed development, commerical with residential now. By selling off the commerical units can recovery the loss in residential units easily.

I am doing 1 at race course lane.

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RN53
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PostPosted: Wed Jun 12, 2013 5:39 pm    Post subject: Does the End of QE Mean the End of the Property Boom? Reply with quote

Does the End of QE Mean the End of the Property Boom?
http://sg.finance.yahoo.com/news/does...om-152659782.html

..............................
Fall in property prices beyond government’s control and require a bit of ‘luck’

The Singapore government is “engineering a soft-landing” for the housing market. The smart question for everyone is: “will these efforts be enough to withstand possible external shocks that have similarly brought down the Singapore property market historically in the past years despite previous cooling measures?”

The answer is a resounding ‘no’.

In his latest blog post, National Development Minister Khaw Boon Wan said a soft-landing in property prices would require a bit of luck with factors beyond the government’s control, such as the global economic conditions. One key strategy being taken is to ramp up supply of public flats and private residential units.

A double whammy – oversupply with lower rental growth

Singapore’s residential property supply is expected to meet its target of 13,600 HDB flats and 18,400 private homes this year.

As of 31 May 2013, the HDB has built 6,000 flats and is confident of delivering the remaining 7,600 units by end 2013. 3,500 private housing units have also been completed as of April, with the remaining 14,900 expected to be completed by this year.

Coming closer to 2015 to 2016, we shall be expecting at least 200,000 units to be completed, coming from both HDB and private.

Moving forward, investment demand is expected to moderate due to stricter financing restrictions and higher stamp duties from the government’s latest round of cooling measures.

In addition, rental growth might continue to slow down due to the substantial number of completions this year and lower rental demand as a result of the government’s restrictions on foreign labour inflow.
....................................

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KaTaBaTic
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PostPosted: Tue Aug 13, 2013 7:20 pm    Post subject: Reply with quote

Recently, on Sunday actually, I met up with an associate from the Middle East. And, I was quite surprised about his perspective about property investments in Singapore. Investments in Singapore properties ranked very high on his list of investments around the world.

He is looking to buy NOW, in order to see capital gain within 3 to 5 years. At today's price, he says Singapore properties is very cheap, considering all aspects of Singapore's location, its security and stability as compared to other countries around the world. And his potential buyers are fellow Middle Eastern investors who are re-locating their assets around the world.

He also mentioned that the authorities are very quick in nipping corruptions at the bud and he can witnessed all kinds of infrastructure developments in full swing. To him, all these are super strong reasons for him to park a sizeable investments here. Furthermore, he mentioned the attractiveness for residency here as supported by the SG government's policy.

This, I learned, is not just his view of how invaluable this tiny country is as compared to many others he had visited over the last 10 years looking for investments.

I am not promoting anything about property investment and it is not a tip but just a conversation I had with an associate who is on a visit to SG presently. If you have the financial ability to invest in anything, you should do so after proper analysis and prudent considerations. CHeers! Smile

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RN53
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PostPosted: Wed Aug 14, 2013 9:51 pm    Post subject: More HDB flat owners renting out units Reply with quote

More HDB flat owners renting out units

http://www.stproperty.sg/articles-pro...perty_News_140813

MORE Housing Board flat owners have been renting out their units in recent months - a phenomenon attributed to upgraders who want to keep their flats even as they move on to private property.

HDB figures last month showed a 6 per cent rise in subletting transactions between the first and second quarters of this year, from 7,410 cases to 7,891.

The number of transactions in the second quarter was also about 15 per cent higher than the 6,900 cases in the same period last year.

More flats were also rented out last month - 1,760 according to Singapore Real Estate Exchange (SRX) estimates, up 27 per cent from 10 months ago.

Industry watchers said this is because there are more upgraders who own private property and want to rent out their HDB units for additional income.

Mr Chris Koh, director of property firm Chris International, traces this to a rule introduced three years ago, which mandates that private property owners must sell their existing property if they buy an HDB resale flat.

That is why some HDB owners with private property prefer not to sell their flats, he said. They cannot buy a resale flat once their HDB unit is sold while still holding on to private property.

HDB owners who have lived in their flat for the minimum occupation period are allowed to purchase private property and hold on to both at the same time.

The move towards renting out HDB flats is also fuelled by the large number of private units that are being completed this year - especially shoebox units, said R'ST Research director Ong Kah Seng.

"Many singles who have been staying with their parents in HDB flats have moved into the shoebox apartment they bought," he said. "The room they vacated can be rented out."

Entire flats are also freed up when aged parents move into a married child's home, he added.

One such person is semi- retired cashier Ang Ling Buang, 73, who began renting out his five-room flat in Hougang to an Indonesian family in March.

Mr Ang now lives with his wife in his son's Punggol flat, where he helps to take care of his grandson. He gets $2,600 in rent monthly.

For now, the increased supply has not had an impact on monthly median rent prices, which have stayed at $2,400 over the past year, SRX data showed.

Demand for HDB rentals is still robust because public flats are cheaper to rent than private ones of similar sizes.

This is especially appealing to foreigners, said ERA Realty key executive officer Eugene Lim, as their rental budgets are often part of their salary packages.

"So to save money, more foreign employees are renting from the HDB market," he said.

Moreover, tenants sharing a room can save even more. "The rooms in many old HDB flats are very spacious, suitable for tenants to share," said Mr Ong.

But even with the increased supply of flats for rent, some landlords are still picky about tenants.

Mr Koh said most Singaporean flat owners prefer renting out to "good profile tenants" like couples with children. But those looking to rent in areas like Woodlands, Sembawang and Marsiling are mainly workers who want to share a flat or room.

"I've heard from agents on the ground that it now takes two months to rent out HDB flats that would have previously been rented out in two weeks," he said.

My observation: Wondering who are those "workers who want to share a flat or room"?

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Jessica Lim
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PostPosted: Thu Aug 15, 2013 12:22 am    Post subject: Re: More HDB flat owners renting out units Reply with quote

RN53 wrote:
More HDB flat owners renting out units

http://www.stproperty.sg/articles-pro...perty_News_140813

MORE Housing Board flat owners have been renting out their units in recent months - a phenomenon attributed to upgraders who want to keep their flats even as they move on to private property.

HDB figures last month showed a 6 per cent rise in subletting transactions between the first and second quarters of this year, from 7,410 cases to 7,891.

The number of transactions in the second quarter was also about 15 per cent higher than the 6,900 cases in the same period last year.

More flats were also rented out last month - 1,760 according to Singapore Real Estate Exchange (SRX) estimates, up 27 per cent from 10 months ago.

Industry watchers said this is because there are more upgraders who own private property and want to rent out their HDB units for additional income.

Mr Chris Koh, director of property firm Chris International, traces this to a rule introduced three years ago, which mandates that private property owners must sell their existing property if they buy an HDB resale flat.

That is why some HDB owners with private property prefer not to sell their flats, he said. They cannot buy a resale flat once their HDB unit is sold while still holding on to private property.

HDB owners who have lived in their flat for the minimum occupation period are allowed to purchase private property and hold on to both at the same time.

The move towards renting out HDB flats is also fuelled by the large number of private units that are being completed this year - especially shoebox units, said R'ST Research director Ong Kah Seng.

"Many singles who have been staying with their parents in HDB flats have moved into the shoebox apartment they bought," he said. "The room they vacated can be rented out."

Entire flats are also freed up when aged parents move into a married child's home, he added.

One such person is semi- retired cashier Ang Ling Buang, 73, who began renting out his five-room flat in Hougang to an Indonesian family in March.

Mr Ang now lives with his wife in his son's Punggol flat, where he helps to take care of his grandson. He gets $2,600 in rent monthly.

For now, the increased supply has not had an impact on monthly median rent prices, which have stayed at $2,400 over the past year, SRX data showed.

Demand for HDB rentals is still robust because public flats are cheaper to rent than private ones of similar sizes.

This is especially appealing to foreigners, said ERA Realty key executive officer Eugene Lim, as their rental budgets are often part of their salary packages.

"So to save money, more foreign employees are renting from the HDB market," he said.

Moreover, tenants sharing a room can save even more. "The rooms in many old HDB flats are very spacious, suitable for tenants to share," said Mr Ong.

But even with the increased supply of flats for rent, some landlords are still picky about tenants.

Mr Koh said most Singaporean flat owners prefer renting out to "good profile tenants" like couples with children. But those looking to rent in areas like Woodlands, Sembawang and Marsiling are mainly workers who want to share a flat or room.

"I've heard from agents on the ground that it now takes two months to rent out HDB flats that would have previously been rented out in two weeks," he said.

My observation: Wondering who are those "workers who want to share a flat or room"?


Uncle RN53,

Just to check with you .
If you have a HDB flat are you not eligible to buy a private condo?
I heard now you cannot buy private property if you are a HDB flat owner.
Is this true?


Hur? Hur? Hur? Hur?

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RN53
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PostPosted: Thu Aug 15, 2013 12:43 am    Post subject: Re: More HDB flat owners renting out units Reply with quote

Jessica Lim wrote:

Uncle RN53,

Just to check with you .
If you have a HDB flat are you not eligible to buy a private condo?
I heard now you cannot buy private property if you are a HDB flat owner.
Is this true?


Hur? Hur? Hur? Hur?

If you met your MOP of your purchased HDB flat, you can buy private property or properties..............depending on eligibility conditions.
Read here.......... to understand better. Nod
http://www.hdb.gov.sg/fi10/fi10325p.n...lity?OpenDocument

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RN53
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PostPosted: Fri Aug 16, 2013 4:22 pm    Post subject: Reply with quote

http://www.srx.com.sg/srx/index.jsp?link=spi
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RN53
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PostPosted: Thu Aug 22, 2013 1:10 am    Post subject: Taper terror may leave Singapore property unscathed Reply with quote

Taper terror may leave Singapore property unscathed

http://sg.finance.yahoo.com/news/tape...re-051228417.html

Singapore's property market is unlikely to be hit too hard by the concerns about an unwinding in U.S. monetary stimulus which are giving Asian asset prices a drubbing, analysts say.

Expectations that the cheap liquidity which has helped boost Asian real estate markets will come to an end with the U.S. Federal Reserve likely to start winding down its monetary stimulus soon have hit Asian risk assets hard. The sell-off in emerging markets this week has been particularly pronounced.

(Read more: First India, then Indonesia... who is next? )

The hit from the Fed tapering fears to Singapore's property market is already underway, said Tim Gibson, head of Asian property equities at Henderson Global, which has around $107 billion worth of assets under management.

"Anything that is yield-like has been sold off," he said, saying there has been a knee-jerk reaction to worries about an unwinding of the Fed's asset purchase program. He expects the shake-out period to last three to six months.

But he added, "we are in a cyclical macro recovery ... It should be positive for real estate in terms of top line rental growth."

Singapore's new private home sales dropped by around 73 percent to 481 homes in July from June's 1,806, in part due to the city-state's efforts to cool the market, according to data from Singapore's Urban Redevelopment Authority.

But in the second quarter, private home prices rose 1.0 percent from the previous quarter, remaining around record highs.

(Read more: Singapore takes further steps to cool housing market )

Property prices are not likely to fall too much in the months ahead, said Tata Goeyardi, a property analyst at Religare Capital. "It usually comes down because of distressed selling. But economic growth is stronger than expected. People are keeping their jobs," he noted. "Even if it comes down, there won't be a crash."

Singapore's gross domestic product (GDP) for the second quarter rose 15.5 percent from the previous quarter on an annualized basis, topping analysts' expectations for a 14 percent rise and spurring some economists to raise their full-year forecasts for economic growth.

Employment conditions in Singapore meanwhile remain relatively robust. The country's unemployment rate stood at 2.1 percent in the second quarter, up from 1.9 percent in the first quarter. Still, that compares with an unemployment rate of 3.9 percent in Japan and 7.4 percent in the U.S.

Goeyardi said it was a good time to buy into Singapore's property stocks since concerns that potential Fed tapering would turn Singapore's real interest rates positive was probably priced in a couple of months ago.

(Read more: Which emerging market stocks have it the worst? )

Going strong

"There's still strong demand for homes, especially in the suburbs and there's still liquidity in the market," added David Neubronner, national director for residential property at Jones Lang LaSalle Property in Singapore.

But there might be some trouble ahead, he added.

"In the short term, it [housing market] should hold up, but medium to long term, there will be pressure because of the new supply coming up," Neubronner said.

In a July research note, Daiwa estimated the pipeline of new homes in Singapore at 200,000 units for 2013-17.

(Read more: Singapore investors fearless despite easing prices )

Neubronner added that public housing prices were falling, which could undermine demand for condominiums.

Another property analyst, who asked not to be named, said Singapore's property market was clearly at a peak right now.

"Any negative development could trigger a sharp correction in the market. I would guess the Fed tapering could be one of those catalysts," he said.

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Ice
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PostPosted: Fri Aug 23, 2013 7:21 pm    Post subject: Reply with quote

Hi, Uncle RN53
Can check with u with regard to hdb flat? Assuming that I intend to buy a EC now, did I need to sell away e current flat and apply for EC or can I apply for EC first without selling e current flat? Thanks! Embarassed
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RN53
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PostPosted: Fri Aug 23, 2013 9:14 pm    Post subject: Reply with quote

Ice wrote:
Hi, Uncle RN53
Can check with u with regard to hdb flat? Assuming that I intend to buy a EC now, did I need to sell away e current flat and apply for EC or can I apply for EC first without selling e current flat? Thanks! Embarassed


If you have bought once, directly from HDB, buying EC is no different from buying a 2nd flat direct from HDB. You must meet all the eligibility criterium, including the MOP among others before applying.

Of course, you can sell your current flat first then apply for EC, but you must find a place to stay until the EC is ready, lots of inconveniences though. While the better option is to buy the EC and time to sell your 1st flat as close as possible to the completion of the EC.

The biggest attraction to buy EC is that there is no resale levy to pay and the prospect to privatise later.

Read through this info from HDB to learn more about ECs Nod
http://www.hdb.gov.sg/fi10/fi10321p.n...gNewFlatEC#Owners

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Ice
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PostPosted: Sat Aug 24, 2013 7:16 pm    Post subject: Reply with quote

Meaning that I can hold on to the current hdb flat until e almost completion of e EC? Nod
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RN53
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PostPosted: Sat Aug 24, 2013 7:17 pm    Post subject: Reply with quote

Nod Nod Nod
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