Property Update (17 March 2015)

Real Estate Watch: Investors prepare for the ‘Canadian housing bubble’ to burst |

Short sellers, bank stock investors, government and ordinary Joes and Janes – everyone is interested in the Canadian real estate market right now with the world “bubble” surfacing everywhere.

Bradley Safalow, Founder and chief executive officer of PAA Research, joins BNN to discuss why it’s time to short the Canadian housing market. Meanwhile financial advisor Hilliard Macbeth, who has been watching the housing market for a decade, has put his concerns on paper with his book: “When The Bubble Bursts: Surviving the Canadian Real Estate Crash.”

Q1 new home sales heading for lowest since financial crisis |

SINGAPORE : The private housing market continues to lack vigour, with analysts saying that total new home transactions in the first quarter are in danger of falling to their lowest since the global financial crisis.

Their comments came after Urban Redevelopment Authority (URA) data published yesterday showed developers sold 382 new private homes last month, up slightly from 374 units in January but about half the number sold a year earlier.

Analysts said unless sales increase significantly this month, total transactions in the first three months this year will hit a new quarterly low since the final quarter of 2008, when developers managed to offload only about 400 units following the collapse of United States investment banking giant Lehman Brothers. Read more here >>


Condo site in Tampines, able to yield 490 units, goes on sale |

SINGAPORE – Developers are being invited to bid for a private condominium site in Tampines able to yield 490 units.

The 15,660 sq m site in Tampines Avenue 10 is not far from the United World College of South-east Asia (East campus).

The Urban Redevelopment Authority (URA) said the tender for the 99-year leasehold site will close on April 28.

The site is on the confirmed list of the Government Land Sales programme for the first half of this year, which means the site goes on the market without any requirement for initial expressions of interest.

A nearby second site is on the reserve list, which means it is triggered for tender if a developer first makes an offer deemed acceptable to the URA. Read more here >>


How big data can make cooling measures obsolete |

SINGAPORE : For the sake of argument, let’s assume that no one would knowingly overpay for the purchase of a home or investment property.

Let’s further assume that no bank would jeopardise its business and incur the wrath of the Monetary Authority of Singapore (MAS) by lending money to credit-suspect borrowers who are buying overvalued property.

Finally, let’s assume that the Singapore Government wants to strike the right balance between housing affordability, capital appreciation for retirement savings, and global investment for the sake of the economy.

If we take these assumptions as valid, then why did the property market reach a point where cooling measures currently in place have cost home owners an estimated $21 billion in lost market value – and counting?

Four words: lack of pricing transparency.

When participants have insufficient information to make pricing decisions, markets fail. Read more here >>


Increased grants for Singapore firms to defray online business costs |

SINGAPORE: Singapore firms expanding overseas will be able to tap Government funding to do business online.

Companies can defray up to 70 per cent of costs in implementing an online strategy, announced trade agency International Enterprise Singapore (IE Singapore) on Monday (Mar 16).

This comes under recent enhancements in Budget 2015 to help firms to internationalise – especially small and medium enterprises.

The scheme is for companies to use the digital space to help overcome the daunting task of entering a foreign market.

The Market Readiness Assistance scheme provides grants to help firms set up operations overseas and identify business partners. The enhanced scheme will provide grants of up to 70 per cent for qualifying activities till March 2018, to help smaller players to head abroad. This is up from 50 per cent previously.

The costs involved in e-commerce, marketing and trade show participation are new areas under the scheme which firms can tap funding.

The funding covers areas such as promotional activities, online and digital marketing, and rental and construction costs for companies participating in trade shows. This is an expansion from previously-included areas such as design, branding, intellectual property and mergers and acquisitions. Read more here >>


Ayala Land to turn Balintawak property into mixed-use complex |

Philippines : Balintawak in Quezon City is getting a face lift as Ayala Land Incorporated sets aside P25 billion ($562.75 million) to transform its property in the area into a mixed-used complex called “Cloverleaf.”
An initial investment of P15 billion ($337.68 million) over the next 5 years will cover the construction of 8 buildings that will include residential buildings, a regional mall, and a hospital, said Ayala Land Senior Vice President and Head of Strategic Land bank Management grip Meean Dy.

The plan also includes transforming an old textile mill covering an 11-hectare lot for the construction of 7 additional buildings for office developments, additional residential towers, and more retail developments. This phase 2 of the project is pegged at P10 billion ($225.13 million).

“Our vision is to create a pocket urban development. Cloverleaf will give people access to refreshing retail, business, lifestyle, and residential possibilities – elements that create an ideal urban lifestyle,” Dy said. Read more here >>


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