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Property agents feeling the pinch as market cools

Runifyouhaveto said:
A total of 8,940 flats across 25 towns will be available in the latest Housing and Development Board (HDB) flat launch, including Build-to-Order (BTO) flats in the non-mature towns of Bukit Panjang and Sembawang, and in the mature towns of Ang Mo Kio and Bedok.
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huat ah! pap is the best.
 
Why it is better to wait until 2017 to buy private property
http://business.asiaone.com/property/news/why-it-better-wait-until-2017-buy-private-property

As of 1Q2016, there are 24,919 vacant private residential properties while available properties have soared to 330,303. Comparing this to pre-cooling measure period at end-2012, with 15,980 vacant and 268,768 available.

This meant that we have more choices to choose from and should therefore take our own sweet time. For once, we can be picky and demanding without feeling the urge that someone else will outpace us in grabbing that dream property of ours.
 
GEM Residences

BT understands that under a "specimen cheque scheme", the joint developers - Gamuda, Maxdin, and Evia Real Estate - issued cheques of S$7,500 or S$10,000 to prospective buyers who then submitted these for expressions of interest. The buyers could have used these cheques to offset their booking fee on balloting day.

But the plan was scuttled after the Controller of Housing directed these developers on Thursday night not to proceed with the use of such cheques, as this circumvents the requirement of a minimum 5 per cent booking fee for a residential purchase.

In response to BT queries, an Urban Redevelopment Authority (URA) spokesman said the offer of the "specimen cheque scheme" by the developers to offset part of the booking fee to be paid by the purchaser does not comply with the requirement under the Housing Developers Rules for a minimum booking fee of 5 per cent of the purchase price for an option to buy a unit in a licensed housing project.

"It is also a circumvention of the minimum 5 per cent cash downpayment requirement of the Monetary Authority of Singapore," the spokesman said.

http://business.asiaone.com/news/ura-kills-gem-projects-cheques-buyers-scheme
 
GEM Residences PART II

BUYERS of triple-key units at GEM Residences will get their apartments with only one kitchen instead of the three kitchens originally depicted in the floor plan of the sales brochure.

The reason: the Urban Redevelopment Authority (URA) has asked the joint developers to remove the kitchens from two sub-units in these apartments in keeping with "the approved floor plan".

Triple-key units, typically with each of the three bedrooms having an ensuite bathroom, is not new here and is seen as an extension of the dual-key concept that emerged in 2009. They allow investors the convenience of renting out to different tenants, and to save on the additional buyer's stamp duty and legal fees they would otherwise incur from buying multiple units. One property agent who bought a S$1.4 million TRIO unit told BT: "I treat it as if I'm buying three one-bedroom units under one roof.

http://www.businesstimes.com.sg/real-estate/ura-directs-gem-residences-to-tweak-triple-key-units
 
Foreign investors shun Singapore commercial property as tenant demand hits record low

The survey showed that majority or 64% of surveyors expect rents to fall further over in the next quarter, and 65% expect the downward trend to continue into next year. Over the next twelve months, respondents expect rental values to fall by 5.8%, with all sectors forecast to see a substantial decline.

In response with a sharp decline in demand, landlords have increased rent-free periods to incentivize tenants to sign leases. Meanwhile, developers are putting the brakes on development projects, particularly for retail and industrial properties. In the office sector, only 20% of respondents reported an increase in project starts.

http://sbr.com.sg/commercial-proper...re-commercial-property-tenant-demand-hits-rec
 
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http://www.bloomberg.com/news/artic...t-jump-in-office-rents-singapore-slumps-chart
 
Runifyouhaveto said:
-1x-1.png


http://www.bloomberg.com/news/artic...t-jump-in-office-rents-singapore-slumps-chart
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rental in hk is much more expensive than s'pore but they are near china, and china is also getting expensive. so there is a reason for this.

s'pore is near malaysia and other cheaper SE countries. i really dun see the value in s'pore. the proxy among the countries serve as an indicator that s'pore property, commercial or residential is over priced. if i'd choose to do business in SE asia, i will do it in JB or KL. heartfelt words on the property market in s'pore.
 
krafty said:
rental in hk is much more expensive than s'pore but they are near china, and china is also getting expensive. so there is a reason for this.

s'pore is near malaysia and other cheaper SE countries. i really dun see the value in s'pore. the proxy among the countries serve as an indicator that s'pore property, commercial or residential is over priced. if i'd choose to do business in SE asia, i will do it in JB or KL. heartfelt words on the property market in s'pore.
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Why are we pricing ourselves out of competition in this cheap region?
 
congo9 said:
Why are we pricing ourselves out of competition in this cheap region?
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a few reasons that i can think of, firstly, pap gahment is pro business, they seek to protect foreign investments. secondly, s'pore is relatively safe place. of course, foreigners do not understand how the lasup matas and kangaroo court operate, they tend to protect foreigners, same as china.:p but come to think of it, other SE asia countries are also similar, and even better than sing, money talks bullshit walks. this adds up to pap gahment has a very big ego, from lau goh's time who claimed to make sinkieland the switzerland of western europe, speaks a lot about their character, those in the cabinet. just my 3 cents worth of fundamental analysis.
 
Despite the efforts being taken by the government, industrial property vacancy rates remain at unacceptably high levels.

At the end of the first quarter, 12.7% of multi-user factory space was unoccupied. The vacancy levels of other segments of industrial property were no better with single-user factories (8.1% vacant), business parks (18.3%), and warehouses (9.6%) being in a similar position.

Colliers International, expects industrial prices and rents to fall by 7% to 10% this year.
http://sbr.com.sg/commercial-property/commentary/singapores-industrial-property-woes
 
AsiaDK said:
The spectre of higher interest rates, weak growth and concerns over the job market could lead to more properties going up for auction next year, say analysts. http://www.straitstimes.com/busines...ould-be-up-for-auction-if-interest-rates-bite

st_20161208_wsyrents08_2795001.jpg
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after bank reposess the property, they will auction it off normally at cheaper price, why not get myself another pigeon hole condominium, sinkies must be rejoicing upgrading from hdb pigeon hole to another private pigeon hole.:D
 
nutbush said:
after bank reposess the property, they will auction it off normally at cheaper price, why not get myself another pigeon hole condominium, sinkies must be rejoicing upgrading from hdb pigeon hole to another private pigeon hole.:D
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2 mill for condo in prime location? That is better value than Ozland. N no seller n buyer restrictions? No capital gains tax? N spore interest rates r soo low...rich ppl should buy it.. better returns than Oz...for prime location 2 Room apartments..is nearly 1 mill n quality n maintenance fees higher than in spore..good times r here again for Singkieland...good choice 70%
 
The_Hypocrite said:
2 mill for condo in prime location? That is better value than Ozland. N no seller n buyer restrictions? No capital gains tax? N spore interest rates r soo low...rich ppl should buy it.. better returns than Oz...for prime location 2 Room apartments..is nearly 1 mill n quality n maintenance fees higher than in spore..good times r here again for Singkieland...good choice 70%
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Don't believe in what you read. The papers has a habit of making things worse/ better than they actually are. A few years ago, they interviewed me and published an article on rising home price. Despite what I told them, they published a rental/ home rate that is 22% higher!

Besides, it doesn't say what is the size of the condo. You could be paying $2m for a 600 sqft studio.
 
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