Property sectors seek $12B refinancing fund
Given the unstable condition of credit markets, the listed property firms, especially the real estate investment trusts (REITs) are asking the government to refinance the estimated $12 billion debts.The request came from Asian Public Real Estate Association (Aprea), an organisation set up in...
Continue Reading • 22 Oct 2009
Former primary school up for rent
The Singapore Land Authority (SLA) has placed the Siglap Primary School for lease through public tender.This 2,258 square metres property located at 10 LaSalle St has a rent price of $42,900, at $1.77 per square foot.Allowed uses for the property include business, privately financed and foreign...
Continue Reading • 22 Oct 2009
Developers’ demand-side measures
Developers still hope for demand-side measures from the government to develop the property market.After the government revealed its budget for 2009 in 22 January, it presented supply-side measures in order to prop up the prices of homes by reducing new residences in the property market.In order...
Continue Reading • 22 Oct 2009
Office leases may slip till 2012
After two years of pressure caused by rapid rise of rents, office renters finally saw the market favouring them.According to a report from the property consultancy Savills, for four straight years of decline, flat leases await them as a sign of forthcoming office space, surpassing the lustreless...
Continue Reading • 22 Oct 2009
Sales in March continue to be strong
The sales of incomplete private houses remained on top in March, which prompted several analysts to expand their estimate for the transaction volumes in 2009.Based on the released monthly data of the Urban Redevelopment Authority, around 1,220 units were sold last month as shoppers continued to...
Continue Reading • 22 Oct 2009
Home sales are still strong
Private property sales accounted for in February was for real. For two straight months, home buyers had taken advantage of the falling economy to purchase over 1,000 units in March.According to property consultants, house buyers are more attracted to what they consider as great buys in a...
Continue Reading • 22 Oct 2009
Homebuyers of 2007 at risk
The island-wide price index in property recorded a plunge of 14.1 percent in Q1, slightly higher than 13.8 percent flash estimate.To date, this is considered the worst decline for a quarter. It is also worse than the quarter-on-quarter decline of 13.1 percent in Q3 of 1998 when the financial...
Continue Reading • 22 Oct 2009
Prices fall creates secondary market buzz
The recovery in sales of private homes experienced by developers has reached already the secondary market. This flow is heightened by falling prices. Caveats have been occupied for over 1,063 private homes in resale markets for Q1 this year, up by 11.7 percent from the last quarter. There were...
Continue Reading • 22 Oct 2009
Experts expect recovery in property market
Based on a new research, buyers looking for homes these recent weeks could be heading to the market even before it has bottomed.DTZ, a consultant for real estate, is expecting a gradual recovery in the property market by mid of next year. This view of the firm is based on a recent report from its...
Continue Reading • 22 Oct 2009
The Arte sold 20 units over the weekend
There are already 20 The Arte units at Thomson that the City Developments Ltd (CDL) had sold, fetching its total sales last weekend of up to $30 million.CDL’s group general manager, Chia Ngiang Hong, said that buyers' interest become a broad evidence to draw the attention of more than 1,000...
Continue Reading • 22 Oct 2009
Residential projects may be converted to serviced apartment
Several private home developers are planning to convert their residential housing projects to serviced apartments.According to Ascott Hospitality, the plan has become the recent approach of some developers, but they refuse to say more information about which residential projects are considered...
Continue Reading • 22 Oct 2009
Developers' sales show sign of hope
Yesterday, the ray of hope dispelled doubts in the market of private homes after the latest data indicated that developers had sold 1,220 new units last month. This figure brought the total sold units during the first quarter to 2,660, making it the best performance for a quarter since the third...
Continue Reading • 22 Oct 2009
MAS brushed off Worries on Property Disclosure of Banks
History shows that property-related loans have increased gradually since the property market boomed in 2005. According to the Monetary Authority of Singapore (MAS), property-linked loans were actually the main drivers of non-bank loan expansion for more than the past two years. Now, the property...
Continue Reading • 22 Oct 2009
Cost is the barrier for green building development
Several studies on green building in Singapore and other South-east Asian countries proved cost is the main barrier for developers to achieve their goal.In a survey conducted by Jones Lang LaSalle (JLL) and CoreNet Global, though most property executives from corporations perceive sustainability...
Continue Reading • 22 Oct 2009
Shelving Home Deals a Difficult Task
A signed deal is a binding contract with technical legalities. Once the option to buy a product or service is approved and the deposit is paid, turning back from your payment schedule is not that easy. With the global economic downturn, every investor or speculator examines the financial...
Continue Reading • 22 Oct 2009
Means to Help the Property Sector
With the dilemmas that the property sector is experiencing these days, a special budget boost has been developed with measures intended to help developers who are waiting for a positive change in the demand for properties. One of such budget boosts is the deferring of property tax for two years....
Continue Reading • 22 Oct 2009
Land Owners to Get High Tax Rebate
Industrial and commercial property owners are expected to get 40 percent tax rebate, valued at $800 million this year.Such rebate is given as part of the $20.5 billion austerity programme endorsed by Finance Minister Tharman Shanmugaratnam to assist many Singaporeans in reducing costs and job...
Continue Reading • 22 Oct 2009
Singaporeans’ large expenditure on renovations and property
Based on a MasterCard survey, unlike most other neighbouring countries in Asia-Pacific, Singapore does not show any sign to reduce their spending on renovations and property. Consumer Purchasing Resilience’s MasterCard Worldwide Index of rates the planned expenditure categories’...
Continue Reading • 22 Oct 2009
Sensible steps for home owners
National Development Minister Mah Bow Tan said the previous day that home owners will be aided by the government during the economic downturn, though moves to temporarily support the private property market are less likely to progress in these trying times.Buyers may probably think of staying on...
Continue Reading • 22 Oct 2009
Property agents use deceitful ads
Mrs. Rupert See would like to get some attention to the property agents regarding their unethical practises.She had been looking for a house for quite a while now and came across several instances of property agents putting deceptive advertisements in order to attract purchasers.In an instance, a...
Continue Reading • 22 Oct 2009