Property agents feeling the pinch as market cools

[dancingshoes]

sinkapore follows america, they raise, we riase, but there is some slack...


http://www.straitstimes.com/news/bu...-might-not-raise-interest-rates-september-201

housing market will still crash with or without SSD becaise interest rate is going to increase very soon

 

[dancingshoes]

what the heck if they remove it, won't pricing rock again...???!!!

depends,
SSD is now a defence against massive price crash now because it limits the selling volume in the market.

 

[Runifyouhaveto]

hmmm........This article says that landlord not supposed to use swimming pool or parking facilities in the condo that they rented out.

http://business.asiaone.com/news/5-must-knows-private-property-rental
Technically, once you sign the lease, the right to use the facilities now belongs to the tenant.

 

[Runifyouhaveto]

Singapore private property prices could fall another 10% over next 2 years
http://www.straitstimes.com/news/bu...-prices-could-fall-another-10-over-next-2-yea

SINGAPORE - Private property prices in Singapore could fall a further 10 per cent from current levels over the next two years, French bank BNP Paribas said in a research report on Monday.

 

[Runifyouhaveto]

Heard some unfortunate things from a property lawyer... ...

He said some companies selling their industrial properties to free up cashflow but they are in distress mode, selling without planning. More n more of these sellers were late in handing of keys and subjected to penalty clauses because they were just happy to sell for cash, but never planned properly where their operations and cargo could shift too

 

[po2wq]

... they were just happy to sell for cash, but never planned properly where their operations and cargo could shift too

sel n lease back ... :o

 

[Runifyouhaveto]

Private home prices down for 7th straight quarter
http://www.todayonline.com/business/private-home-prices-down-7th-straight-quarter
Private home prices between April and June fell 0.9 per cent, continuing a slide for the seventh running quarter — the longest streak in 13 years.

 

[Runifyouhaveto]

sel n lease back ... :o

Unlike residential properties, for many of these SMEs who are offloading their industrial properties,
they are using this chance to realise massive capital gains and improve their cashflow
because operations/business have been lacklustre lately.

I know some banks reducing OD and trade facilities for many weaker SMEs lately
and more and more SMEs defaulted on the employees' pay in the last 2 months.

 

[sleaguepunter]

Unlike residential properties, for many of these SMEs who are offloading their industrial properties,
they are using this chance to realise massive capital gains and improve their cashflow
because operations/business have been lacklustre lately.

I know some banks reducing OD and trade facilities for many weaker SMEs lately
and more and more SMEs defaulted on the employees' pay in the last 2 months.

the refurnished office block next to where I work open 3-4 months liao. as of now, 70% empty with rental advert hang on most units window. freehold commercial.

 

[Pillow]

I think worse is that hotel cum retail building along Alexandra road, next to ikea, all the shops are empty and all looking for tenants...

 

[Runifyouhaveto]

Residents of The Seaview condominium, unhappy over what they say are numerous defects in their estate, have sued four parties involved in the development for $32 million.
http://www.straitstimes.com/singapore/condo-owners-sue-for-32m-defendants-try-to-shift-blame

 

[dancingshoes]

one day, we may just hear from the news that one of these condo or HDB collapse.

 

[Cerebral]

Heard end of the year, govt going to make announcement on car and housing policy. I guess it will be before election

 

[Runifyouhaveto]

China's rich seek shelter from stock market storm in foreign property
http://www.businesstimes.com.sg/rea...r-from-stock-market-storm-in-foreign-property

"There is anecdotal evidence that Chinese buyers have intensified their interest in 'safe haven' global property markets, including London, as a result of the recent stock market volatility," said Tom Bill, head of London residential research at Knight Frank.

Around 91,000 wealthy Chinese sought second citizenship between 2000 and 2014, according to a report by residence investment broker Lio Global, a factor that is fuelling demand to buy foreign property.

Most of these individuals, defined as those with net assets of US$1 million or more excluding their primary residences, are moving to the US, Hong Kong, Singapore and Britain

 

[SgGoneWrong]

My friend told me yesterday a property was sold for 100k lesser than the asking price on propertyguru. I went to ura caveat but could not find the sale. Then I found this link that says if prices sold are too high or low it will not be reflected:
http://www.ifaq.gov.sg/URA/mobile/index.aspx#detaildoc/68121

If that is the case, how are prices going to 'drop' when there's no real representation of the market?

 

[Runifyouhaveto]

Department store operator Isetan has ceased its operations at Wisma Atria and is in the midst of leasing out the space to other retailers. It recently signed a deal to lease out a basement floor to a retailer of ladies fast-fashion apparel. The lease will commence at the end of the third quarter. Meanwhile, it is engaged in further discussions with potential tenants for the leasing of the other floors. While it endeavours to lease out all the remaining floors, "there is no assurance that it would be able to achieve full tenancy for the premises at Wisma Atria due to market conditions or commercial reasons", it warned.

http://www.straitstimes.com/business/orchard-road-retail-rental-falls

 

[Runifyouhaveto]

REDAS warns of record-high vacancies in private home market
http://www.channelnewsasia.com/news/business/redas-warns-of-record/1982848.html

REDAS' president Augustine Tan cited analysts' estimates that more than 89,000 new private homes will be completed from 2015 to 2019, and that the number excludes supply from the government land sites sold in the first half of the year.

"This looming supply is likely to bring home vacancy rate to a new record high, causing further slip in home rentals and downward spiralling of property prices," Mr Tan said.

“According to latest figures by property consultants, the proportion of new office leases in Singapore dropped by half as companies cut costs,” he said.

 

[Cosmos10]

REDAS warns of record-high vacancies in private home market
http://www.channelnewsasia.com/news/business/redas-warns-of-record/1982848.html

REDAS' president Augustine Tan cited analysts' estimates that more than 89,000 new private homes will be completed from 2015 to 2019, and that the number excludes supply from the government land sites sold in the first half of the year.

"This looming supply is likely to bring home vacancy rate to a new record high, causing further slip in home rentals and downward spiralling of property prices," Mr Tan said.

“According to latest figures by property consultants, the proportion of new office leases in Singapore dropped by half as companies cut costs,” he said.

Hiya bro, do you recognize me with your old avatar huh? :p

I left you a reply in the other thread with link below. Did you get to read it yet?

http://singsupplies.com/showthread....21253;二奶)&p=2231413#post2231413

 

[Runifyouhaveto]

Hiya bro, do you recognize me with your old avatar huh? :p

I left you a reply in the other thread with link below. Did you get to read it yet?

Thanks good brother
ah RUN replied.
Our friends here will go nuts if they see more running penguins all over the forum.

 

[Cosmos10]

Thanks good brother
ah RUN replied.
Our friends here will go nuts if they see more running penguins all over the forum.

Haha, for some unknown reasons, I just like penguins a lot!

Anyway, on a more serious note, my family relative has a 99-year leasehold condo that was bought quite sometime ago (before the crazy price rise in the recent years). So, he will still make some money if he sells it at today's price. What would your advice be? Should he continue to rent the condo out or sell it? How bad do you think the price drop will be in the next two years?