Link here: Resale prices of public housing fall first time in 2013 since 2005
The year 2005/06 marked the year where singapore economy made a turn for the better. With the introduction of two integrated resorts a year later, which brought in billions dollar of investment and together with China extraordinary economy booms, singapore has recovered quickly from the '98 asia financial crisis and the 2002 SARS epidemic to scale greater high once more.
[THE Housing & Development Board (HDB) announced on Friday that the resale price index (RPI) fell to 201.7 in the fourth quarter of 2013, down 1.5 per cent from 204.8 in the third quarter. For the full year 2013, the RPI registered a decline of 0.6 per cent, in what is the first annual decline since 2005. Resale transactions decreased by 12 per cent from 4,529 cases in Q3 2013 to 4,001 cases in Q4 2013. The number of resale transactions for the full year of 2013 stood at 18,100 - a decrease of 28 per cent over 2012.]
Friday, January 24, 2014
1 in 5 Singapore borrowers nearly overstretched: MAS
Link Here
So is this low interest rate inflated housing bubbles?
[As long as there is no sudden spike in interest rates - and the hike is expected to be very gentle -- most people should be able to continue servicing their loans]
So is this low interest rate inflated housing bubbles?
[As long as there is no sudden spike in interest rates - and the hike is expected to be very gentle -- most people should be able to continue servicing their loans]
Why Singapore is not Iceland . . .
Link Here
[The bottom line...
Singapore's financial sector and economy are not at risk of an "Iceland- style meltdown", as Jesse Colombo claims. Still, the market mechanisms on which his analysis is based are standard features of global capital markets, and fragilities and excesses do exist in our financial system. Consumers and investors can keep our money and its purchasing power safe by understanding and acting on a few simple principles: low interest rates (and high and rising property prices) do not last forever; excessive leverage (indebtedness for speculative purposes), like gambling, puts one at risk of losing everything; the government cannot protect and rescue us from all our behavioural excesses (that is, market risks exist in Singapore investments just as they do in other places - to expect otherwise is to court "moral hazard"); and the most secure way to make more money is to increase productivity from which sustainable higher incomes and real wealth flow. As a mature, developed economy that is now one of the world's richest as well as most open, we can no longer rely on future rapid GDP growth for recovery from a potential financial crisis.]
[The bottom line...
Singapore's financial sector and economy are not at risk of an "Iceland- style meltdown", as Jesse Colombo claims. Still, the market mechanisms on which his analysis is based are standard features of global capital markets, and fragilities and excesses do exist in our financial system. Consumers and investors can keep our money and its purchasing power safe by understanding and acting on a few simple principles: low interest rates (and high and rising property prices) do not last forever; excessive leverage (indebtedness for speculative purposes), like gambling, puts one at risk of losing everything; the government cannot protect and rescue us from all our behavioural excesses (that is, market risks exist in Singapore investments just as they do in other places - to expect otherwise is to court "moral hazard"); and the most secure way to make more money is to increase productivity from which sustainable higher incomes and real wealth flow. As a mature, developed economy that is now one of the world's richest as well as most open, we can no longer rely on future rapid GDP growth for recovery from a potential financial crisis.]
Saturday, January 18, 2014
The Hillford sells out in 5 hours
Link Here
Looks like the residential price is holding up pretty well. Bubble it might be but not bursting anytime soon.
[All 281 units bought on first day.
Looks like the residential price is holding up pretty well. Bubble it might be but not bursting anytime soon.
[All 281 units bought on first day.
World Class Land announced that all 281 residential units up for sale at retirement resort The Hillford have sold out on the first day of sales. 1,000 potential buyers turned up at the showflat at Jalan Jurong Kechii.
There was a good showing by buyers aged 50 and above, said World Class Land.
"The response to Singapore's first retirement resort has been spectacular, with many buyers responding very positively to The Hillford's wide range of elderly-friendly features, services and facilities specially introduced to serve their needs," said Koh Wee Seng, CEO, World Class Land.
Koh said that based on observations a "substantial portion" of buyers were over 50 years of age.
The 281 residential units were sold at an average of S$1,100 psf.]
Monday, January 13, 2014
Resale, rental prices of non-landed private homes down in Dec
Link Here
We still do not see any significant drop in house price.
[Resale prices of non-landed private homes declined 0.2 per cent in December last year, marking the fourth straight monthly drop in SRX’s overall property resale index released on Monday.
The Core Central region (CCR) saw the largest decline at 2.3 per cent, followed by Outside Central region's (OCR) decline of 1 per cent. The Rest of Central region (RCR) bucked the overall trend by registering a price increase of 2.9 per cent.
Rents also slipped another 1.3 per cent in December, reflecting a sustained weakening of rents for the fifth consecutive month.
“This is the weakest rental prices observed since December 2011,” said SRX.]
We still do not see any significant drop in house price.
[Resale prices of non-landed private homes declined 0.2 per cent in December last year, marking the fourth straight monthly drop in SRX’s overall property resale index released on Monday.
The Core Central region (CCR) saw the largest decline at 2.3 per cent, followed by Outside Central region's (OCR) decline of 1 per cent. The Rest of Central region (RCR) bucked the overall trend by registering a price increase of 2.9 per cent.
Rents also slipped another 1.3 per cent in December, reflecting a sustained weakening of rents for the fifth consecutive month.
“This is the weakest rental prices observed since December 2011,” said SRX.]
Sunday, January 12, 2014
Call to relax some rules as property market wanes
Link Here
Feeling the heat? or the cold from the cooling measures.
[Singapore, government should relax some of its property-cooling measures as demand for real estate wanes.
Feeling the heat? or the cold from the cooling measures.
[Singapore, government should relax some of its property-cooling measures as demand for real estate wanes.
This was the view of Getty Goh, director at Ascendant Assets, who felt this was necessary given "the lacklustre property market" and the likelihood that interest rates will rise this year and the next.
Speaking at the 12th Singapore Chinese Chamber of Commerce and Industry-Business Times (SCCCI-BT) Business Outlook Forum yesterday, Mr Goh said the government should consider repealing the Seller Stamp Duty (SSD) for residential properties introduced in January 2011, because sellers who are keen to dispose their properties may find themselves tied down by it.]
Tuesday, January 07, 2014
HK property sales fall to 17-year low as tax hike bites
Links to Business Times Singapore
[HONG KONG: The number of properties sold in Hong Kong fell by more than a third last year to a 17-year low as a drastic increase in tax on home sales, introduced to tackle rising prices, easily outweighed discounts offered by the city's property developers.
The total number of sale and purchase agreements concluded in 2013 was 70,503, down 39 per cent from 2012's level, according to the Hong Kong Land Registry. The value of deals dropped 30 percent from a year earlier to HK$456 billion (US$59 billion).
Forecasters expect the downturn to continue this year. With tycoons like Li Ka-shing warning of the impact on his property business, in November Deutsche Bank said Hong Kong home prices could drop up to 50 per cent over the following 12 months.
Designed to burst the city's long-term property price bubble, last February's doubling of stamp duty on residential transactions to as much as 8.5 per cent of the sale value has yet to stop the price of homes creeping up. According to property service firm Centaline Property, overall home prices edged up 3 per cent for the year, and have jumped 120 per cent since 2008.]
[HONG KONG: The number of properties sold in Hong Kong fell by more than a third last year to a 17-year low as a drastic increase in tax on home sales, introduced to tackle rising prices, easily outweighed discounts offered by the city's property developers.
The total number of sale and purchase agreements concluded in 2013 was 70,503, down 39 per cent from 2012's level, according to the Hong Kong Land Registry. The value of deals dropped 30 percent from a year earlier to HK$456 billion (US$59 billion).
Forecasters expect the downturn to continue this year. With tycoons like Li Ka-shing warning of the impact on his property business, in November Deutsche Bank said Hong Kong home prices could drop up to 50 per cent over the following 12 months.
Designed to burst the city's long-term property price bubble, last February's doubling of stamp duty on residential transactions to as much as 8.5 per cent of the sale value has yet to stop the price of homes creeping up. According to property service firm Centaline Property, overall home prices edged up 3 per cent for the year, and have jumped 120 per cent since 2008.]
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