HOUSING is not just what a typical Singaporean thinks of, it is also what he thinks with. Residential property, either public or private, is the single largest asset in the vast majority of Singaporeans' household portfolios. In turn, residential property also constitutes one of the largest financial assets in our economy. This means that what happens in the property market has an impact on financial,...
General
THE new measures aimed at restraining property speculation will have different implications for four different groups: the speculators, unconstrained housing investors, constrained home owners or upgraders, and those about to become home owners. Speculators are short term 'flippers', who take advantage of imperfect information about the markets to profit by buying and selling property whenever housing...
More people are sitting on the sidelines but prices unlikely to head south any time soon Last Wednesday, one mass market condominium project in Pasir Ris attracted 160 buyers on its preview. Many property experts are surprised because the Government had just announced measures aimed at cooling the market on Aug 30. The market has since largely settled into a stalemate, as buyers wait for prices to fall...
SOME resale flat sellers asking for high cash premiums have been brought back down to earth by the recent property rulings. Agents have seen a handful of owners lowering their cash- over-valuation (COV) quotes, especially if they are asking for more than $60,000 initially. Owners who have a real need to sell their flats and are demanding less to attract buyers. C&H Realty managing director Albert Lu...
05:55 AM Sep 11, 2010 Hong Kong home prices have risen to their highest levels since December 1997, according to Centaline Property Agency, defying government efforts to rein in speculation and prevent an asset bubble. The Centa-City Leading Index rose 1.11 per cent to 84.54 in the week ended Sept 5, from 83.61 a week earlier, according to a press release by one of Hong Kong's biggest property...
It cites reduced exposure to highly leveraged clients and future price shocks RECENT rules to cool the property market could bring short-term pain but longer-term gain to banks in Singapore says Moody's Investors Service. The ratings agency said the measures will benefit Singapore banks over the medium term, by cutting exposure to highly leveraged customers and possible property price shocks. 'In the...
FAR East Organization and Orchard Parade Holdings will buy Pastoral View (through an enbloc sale) and the next door plot being sold by OCBC for $122 million. This works out to about $847 per square foot per plot ratio (psf ppr) inclusive of a marginal development charge (DC). Both freehold sites have a combined land area of 51,395 sq ft and can be redeveloped into a new condo with about 140 units...
NV Residences, the latest condominium development to hit the market, packed in the crowds on Hari Raya holiday. The afternoon rain on Friday did little to dampen the interest of home-seekers, as hundreds turned up at NV Residences in Pasir Ris. While many were there to browse and make enquiries, others came ready to hand over a cheque. Market watchers said that despite the government's recent measures...
The latest launch by City Developments - NV Residences in Pasir Ris Grove - has received good response despite the property market curbs announced late last month. A total of 160 of the 200 units released were snapped up during the property's private preview this week. The company's group general manager, Mr Chia Ngiang Hong, said: "We're very encouraged by the good response for NV Residences, which...
There have been numerous analyses recently on how the housing market is reacting to the Government's property cooling measures. But to date, the only impact we can be truly certain of is the huge toll they have taken on the health of overworked reporters. Many have taken ill after rushing out market updates and analyses. Beyond that, it is too early to assess how much the market has changed. The...