Q: The state does have a major role in deciding how a large percentage of citizens live, given that 80 per cent of us live in HDB flats. Do you think this will change? I think we can answer that through two perspectives. One is whether the Government will have a big role in deciding our living conditions. The second is whether public housing will still cover such a large proportion. To the first...
singapore property
With the interest rate on savings near zero and not able to beat even Singapore's benign inflation, forecast at 2.5 to 3.5 per cent by the Monetary Authority of Singapore, many are looking to work their savings harder by buying an investment property. Having decided that, the next question is whether to invest in a new property bought from the developer or a unit from the resale market. There are...
"Going once, going twice, sold!" This is a phrase commonly heard at property auctions in Singapore, which have - over the years - gained favour with both sellers and buyers. Auction houses, such as Colliers International, DTZ, Jones Lang LaSalle and Knight Frank, typically conduct auctions on a monthly basis in a hotel. About 200 people on average show up at each session, comprising both local and foreign...
A new era in property market governance Residential property demand has surged in many Asian cities as speculators and homeowners alike clamour to get a piece of the action before prices exceed their threshold buying level. We have seen volume and prices of new launches in Singapore rising unabated. In 3Q09, the Property Price Index, a national price index developed by the Urban Redevelopment Authority...
Prices of units at the newly built, 336-unit condominium The Arte by City Developments Ltd (CDL) have been on an uptrend this year, hitting a high of $1,250 psf last month versus an average of only $880 psf during its launch last year. This comes as it attains its temporary occupation permit (TOP) and rides the ongoing transformation of the Thomson- Balestier area. At the moment, Balestier Road still...
THE Real Estate Developers' Association of Singapore has made a bold move by launching its Real Estate Sentiment Index (RESI). The industry has taken a risk going public with the sentiment index, which it developed jointly with the National University of Singapore's Department of Real Estate. As expected, brickbats have surfaced, with sceptics questioning the credibility of developers - the key...
A NEW index tracking the property market shows that developers and other industry players remain positive but believe conditions will cool down from the bullish levels seen in recent months. More developers also believe the slowing global economy and an increased supply of new development land may hit market sentiment over the next six months. The Real Estate Sentiment Index, which was launched at a...
Real estate has made a lot of Singaporeans millionaires, property never goes down to zero value, unlike stocks and shares, says CDL executive chairman Kwek Leng Beng KWEK Leng Beng, 69, is the executive chairman of the Singapore wing of the Hong Leong Group of Companies, a global conglomerate worth over $30 billion employing 50,000 staff. Mr Kwek is also the executive chairman of leading property...
When the property market is on a roll, it is easy to forget that property prices move in cycles - that is, prices can and will eventually correct. I know of no mature economy which has seen an uninterrupted and sustained upward cycle. Cycles are part and parcel of the function of the modern economy. In the early days, the evidence suggested that the Singapore private housing market had a cycle - from boom...
Property investors with a lower budget but with a longer term perspective towards property purchases may look at the choices available in suburban areas instead of prime locations. Analysts reckon that prices in upcoming suburban areas are still within reach and units there have upside potential as well, making them good investment opportunities. Among the new coming areas that potential buyers can...