property prices not reasonable lah, must come down another 50% to 75%
http://www.straitstimes.com/Breaking+News/Singapore/Story/STIStory_333368.html
Home > Breaking News > Singapore > Story
Feb 2, 2009
Be reasonable
THE president of the Real Estate Developers Association of Singapore (Redas) on Monday called on tenants to be reasonable in asking for help.
Mr Simon Cheong, who is serving a second two-year term as president this year, told a Redas Chinese New Year lunch gathering that the severe and unprecedented downturn last year had caught the property sector by surprise.
He assured guest-of-honour Acting Minister for Manpower Gan Kim Yong that developers will do their best to pass on tax savings from the Resilience Package announced by Finance Minister in his Budget speech on Jan 22.
Many Redas members have said that they intend to pass on their tax rebates to tenants. CapitaLand, for instance, announced last week it was giving its savings in full to tenants.
'We only ask that tenants be reasonable,' said Mr Cheong.
It is neither realistic nor sustainable for building owners in the long run to grant requests for large sudden reduction in rentals, he said.
Many tenants are suffering from poor demand due to the downturn and seeking help from landlords to cope with it.
Going forward, he said Redas will be ready to maintain a continous dialogue with the Government to ensure 'just in time' feedback so that proposals and measures can be effectively implemented.
http://www.straitstimes.com/Breaking+News/Singapore/Story/STIStory_333368.html
Home > Breaking News > Singapore > Story
Feb 2, 2009
Be reasonable
THE president of the Real Estate Developers Association of Singapore (Redas) on Monday called on tenants to be reasonable in asking for help.
Mr Simon Cheong, who is serving a second two-year term as president this year, told a Redas Chinese New Year lunch gathering that the severe and unprecedented downturn last year had caught the property sector by surprise.
He assured guest-of-honour Acting Minister for Manpower Gan Kim Yong that developers will do their best to pass on tax savings from the Resilience Package announced by Finance Minister in his Budget speech on Jan 22.
Many Redas members have said that they intend to pass on their tax rebates to tenants. CapitaLand, for instance, announced last week it was giving its savings in full to tenants.
'We only ask that tenants be reasonable,' said Mr Cheong.
It is neither realistic nor sustainable for building owners in the long run to grant requests for large sudden reduction in rentals, he said.
Many tenants are suffering from poor demand due to the downturn and seeking help from landlords to cope with it.
Going forward, he said Redas will be ready to maintain a continous dialogue with the Government to ensure 'just in time' feedback so that proposals and measures can be effectively implemented.
