Condo rents rise 0.5% in June, HDB rents fall 0.6%: SRX Property

SINGAPORE – Private residential and HDB reversed course last month, according to SRX Property flash estimates released on Wednesday (July 12).

Rents of condominiums and apartments rose 0.5 per cent month-on-month in June, swinging from a revised 0.6 per cent decline in May, though the number of units leased dropped

After a sustained slide last year, private rents have fluctuated monthly this year. But after June’s increase they are now down just 0.3 per cent to date this year. They are still 19.1 per cent off their peaks in January 2013.

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Renting Out Rooms in Your Home? Here’s What You Should be Screening Your Tenants For, Not Their Race!

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By Joanne Poh, via moneysmart.sg

So you’ve finally decided that despite the small size of your humble abode and your aversion to other human beings, you need the cash, so you’ve decided to rent out a room in your home to a complete stranger.

Unlike property owners who can afford to just rent out the entire unit, all while living a safe distance from those lowlife tenants, you’re going to be stuck sharing your life with them. So how should you screen them?

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Condominium resale prices edge up in January

Prices of condominiums on the resale market inched up 0.6 per cent last month, while the number of units resold fell 20 per cent, says SRX Property.

SINGAPORE: Prices of condominiums sold on the resale market edged up 0.6 per cent in January, despite a fall in the number of units sold, according to a local property index.

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For Rent – Condominium / HDB

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  • Blk/Street : Rivervale Crest Condominium, Sengkang;
  • Type : Condominium / 3-Bedroom;
  • Asking : SG$ 2,900;
  • Description: 3 bedroom; High floor; Pool facing; Fully furnished; All races; Available immediately;

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  • Blk/Street : Hume Park II, Bukit Batok;
  • Type : Condominium / 3-Bedroom;
  • Asking : SG$ 2,900;
  • Description: 3 bedroom; Mid floor; Fully furnished; All races; Available immediately;

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  • Blk/Street : 770 Pasir Ris Street 71;
  • Type : HDB 4A / 3-Bedroom+1;
  • Asking : SG$ 2,400;
  • Description: 3 bedroom+1; Air-conditioned; Fully furnished; All races; Available December’15;

Other units for rent:

  • Axis @ Siglap
    818sf 2 bedrms + 2 baths PF $2800/mth;
    Available immediate;
  • Espada
    355sf 1 bedrm + 1 bath FF $3000 nego;
    Available immediate;
  • Espada
    355sf 1 bedrm + 1 bath FF $2900 nego;
    Available immediate;
  • Kovan Regency
    775sf 2 bedrms + 2 baths FF $3100/mth nego;
    Available soon;
  • Montebleu
    1141sf 3 bedrms + 3 baths FF $5000/mth nego;
    Available from 30/11/15;
  • Skysuites 17
    613sf 2 bedrms + 2 baths FF $3100/mth nego;
    Available is after 13th Dec’15;

For viewing, please call:
Mobile: +65 8180 4135 or +65 8180 4136

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Property Update (14 October 2015)

Private homes saw rental prices declining for the eighth consecutive month in September, while rents for Housing and Development Board (HDB) flats were unchanged.

Private homes saw rental prices declining for the eighth consecutive month in September, while rents for Housing and Development Board (HDB) flats were unchanged.

HDB rents unchanged, private homes dip in September: SRX Property | channelnewsasia.com

SINGAPORE: Rental prices for non-landed private homes fell for the eighth straight month in September, declining 0.3 per cent compared to August, according to flash estimates released by SRX Property on Wednesday (Oct 14).

Units in the Rest of Central Region and Outside Central Region saw decreases in rents of 0.6 per cent and 1.3 per cent, respectively, while homes in the Core Central Region saw a 1 per cent increase.

On a year-on-year basis, rents in September were down 5.6 per cent, and down 13 per cent compared with its peak in January 2013, SRX Property said.

Rental volume fell 4.1 per cent, with an estimated 3,758 units rented in September, compared with the 3,919 units rented in August. Read more >>

The home-sharing company says it is keen to help establish logical guidelines that will take everyone’s needs into account.

The home-sharing company says it is keen to help establish logical guidelines that will take everyone’s needs into account.

Airbnb in talks with URA for clearer rules on short-term leasing | channelnewsasia.com

SINGAPORE : Airbnb is in talks with the Urban Redevelopment Authority (URA) to establish clearer guidelines on short-term leasing, as the home-sharing site seeks to help homeowners monetise their properties.

The guidelines could include allowing homeowners to lease only their primary homes or limiting the number of days for short-term rentals, as practised in countries such as France and the Netherlands, Mr Chai Jia Jih, Airbnb’s managing director for South-east Asia and India, told TODAY in an interview. Read more >>

Research houses have been more circumspect on their calls on property counters, as they work out various scenarios that may surface as interest costs shoot up and factors such as a China slowdown kick in.

Research houses have been more circumspect on their calls on property counters, as they work out various scenarios that may surface as interest costs shoot up and factors such as a China slowdown kick in.

Weak property market bleeds agencies, sales agents | asiaone.com

SINGAPORE : Some 140 real estate agencies have closed shop over the 12 months to March 31, 2015 and over 3,000 property agents have quit the industry in that period as the sluggish property market continued to take its toll on industry players.

The honchos of top agencies here told BT that they are expecting more “casualties” in the current renewal of CEA licence period, October to December, with more agents throwing in the towel.

The latest annual report from the Council for Estate Agencies (CEA) for its fiscal year ended March 31, 2015 shows that there were 1,654 new salespersons who entered the industry over the 12 months but the number of registered salespersons still dropped to 32,006 as at March 31 from 33,498 a year ago, meaning 3,146 people left the sector.

And while 109 new property agencies were formed, the total number still fell to 1,422 from 1,449, yielding a loss of 136 agencies. Read more >>

Number of units resold last month falls 4.7% year-on-year, breaking streak of increases

Number of units resold last month falls 4.7% year-on-year, breaking streak of increases

Raised EC income ceiling hits private resale market | todayonline.com

SINGAPORE : The number of non-landed private homes resold last month fell 4.7 per cent from September a year earlier, breaking a 10-month streak of year-on-year increases, hurt by rising competition from executive condominiums (ECs) following the revision in the income ceiling for the hybrid housing type.

A total of 446 non-landed private homes were resold last month, SRX Property estimated in its monthly flash report released today (Oct 13).

This was down from 468 units in the same month last year and down 10.6 per cent from the 499 units resold in August. Resale prices slipped 1.2 per cent last month from September a year earlier and 0.1 per cent from August. Read more >>

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Property Update (1 July 2015)

The drop in the Resale Price Index released by the Housing and Development Board (HDB) is the eighth consecutive quarter of decline, according to flash estimates.

The drop in the Resale Price Index released by the Housing and Development Board (HDB) is the eighth consecutive quarter of decline, according to flash estimates.

HDB flats resale prices continue to slide, down 0.4% in Q2 | channelnewsasia.com

SINGAPORE: Flash estimates of the Resale Price Index (RPI) for the second quarter of 2015 showed a 0.4 per cent decline in the prices of Housing and Development Board (HDB) flats over the previous quarter, HDB announced on Wednesday (Jul 1).

The flash estimate for the index is 135.0, HDB said, down from 135.6 in the previous quarter – an eighth consecutive quarter of decline.

The RPI for the full quarter will be released on Jul 24, along with more detailed public housing data, HDB added. Read more >>

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Shoebox units lead non-landed home price slide in May | asiaone.com

SINGAPORE : PRICES of completed non-landed private homes in Singapore fell 0.6 per cent in May from April, according to the flash estimate for the NUS Singapore Residential Price Index (SRPI).

This has translated into a 1.6 per cent decline over the first five months of this year.

The fall in May was sharpest among shoebox units of 506 square feet or below that saw a 1.3 per cent drop in prices. Excluding these small units, non-landed private homes in the central region slipped one per cent in May from a month ago.

Units in the non-central region dipped 0.1 per cent in May, the sub-index shows. Central Region is defined by the university’s Institute of Real Estate Studies (IRES) as districts 1-4, including the financial district and Sentosa Cove, plus the traditional prime districts 9, 10 and 11. Read more >>

Singapore will relax rules that currently require banks to segregate their domestic and international operations into separate accounting entities, as part of moves to simplify its banking regulations.

Singapore will relax rules that currently require banks to segregate their domestic and international operations into separate accounting entities, as part of moves to simplify its banking regulations.

Singapore to ease banks’ local and offshore regulations | businesstimes.com.sg

SINGAPORE : Singapore will relax rules that currently require banks to segregate their domestic and international operations into separate accounting entities, as part of moves to simplify its banking regulations.

Banks in Singapore need to divide their local and offshore operations into domestic banking units (DBU) and Asian Currency Units (ACU). This division was created in the late 1960s to boost the growth of the Asian Dollar Market – in which US dollars and other foreign currencies were transacted – while safeguarding the local banking system. Read more >>

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British Expats in Hong Kong, Singapore Leveraging Rising Rents in UK | worldpropertyjournal.com

UK : With Hong Kong and Singapore topping the list of the world’s most expensive cities to live in, British expats are taking advantage of rising rents and long-term property inflation back home and purchasing buy-to-let investments in the UK.

Offshore bank, Skipton International has seen a lot of interest from expats living in Hong Kong and Singapore since launching a range of buy-to-let mortgages for Brits living and working abroad. The Asian countries are in the top four of the costliest cities for expatriates, according to the Mercer’s 2015 Cost of Living Survey. The survey takes into account housing, transportation, food, clothing, household goods and entertainment, and has Hong Kong in the second slot and Singapore fourth. Read more >>

Property Update (9 March 2015)

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Another slow year in condo sales expected | asiaone.com

SINGAPORE : New evidence has emerged that condominium sales dived by 60 per cent after mid-2013, when tough home loan restrictions kicked in.

And experts do not expect sales to pick up this year, adding that they might even fall further as buyers hold out for price drops.

An analysis by consultancy JLL found that in the first six months of 2013, condo sales stood at 12,909, based on caveats lodged.

But by the second half of last year, that figure had nosedived 60.3 per cent to just 5,126 sales.

In both six-month periods, buyers with private addresses made up about 54 per cent of the combined sales totals. The rest had Housing Board addresses, so some would have been upgraders.

Buyers with HDB addresses bought 2,336 units in the second half of last year, a 60.8 per cent drop, while buyers with private home addresses bought 2,790, a 59.8 per cent dive, said JLL national research director Ong Teck Hui.

That the decline is roughly equal across both categories of buyers could surprise some, as the formula for the Total Debt Servicing Ratio (TDSR) applies fairly to both, said Century 21’s chief executive Ku Swee Yong. Read more here >>


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Manila rule change lures foreign banks | scmp.com

At least seven Asian banks are looking to begin lending or open offices in the Philippines, lured by juicy prospects in the region’s second-fastest growing economy as their domestic markets languish, central bank officials said.

The surge in interest comes as steps adopted last year by the Philippines to remove caps on foreign banks take effect.

In a country where only one household in five has a bank account, Manila is keen to develop a comparatively small lending sector, worth 10 trillion pesos (HK$1.76 trillion) in assets, into an engine to drive an economy it expects to boom 7 to 8 per cent this year.

Industry insiders said among those looking to open branches or expand presence were Taiwan’s Cathay United Bank and Taiwan Cooperative Bank, alongside South Korea’s Shinhan International Bank, Woori Bank and Busan Bank. Central bankers declined to identify contenders by name, but said at least seven had expressed interest.

“Foreign banks are coming in. We have approved one, and there are more in the pipeline .… around seven,” central bank governor Amando Tetangco said. Read more here >>


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Obama’s nod to China could bring NYC real estate boom | nypost.com

NEW YORK : It hasn’t gotten as much attention as his other immigration decrees, but President Obama has agreed to let Chinese citizens apply for multiple-entry business and tourist visas that last for 10 years, not just one. Student visas have also been extended to five years from one.

Reaction to the immigration policy, announced Nov. 12, was immediate in China. There was a 68.2% leap in visas issued in December and January, for a total of 351,650. If these numbers continue, an additional 833,000 visas will be issued, bringing the total to 2.1 million in 2015.

The elite hunger to leave China.
Among the nation’s 2.4 million millionaires, 64% plan to leave and 78% want their kids educated abroad, according to a 2014 poll by Hurun, a Chinese research company.
One thing they’re doing right away — buying real estate and driving up prices in New York. Read more here >>


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Dubai to ‘benefit from affordable housing quotas’ | tradearabia.com

The proposal by Dubai Municipality to introduce mandatory affordable housing quotas for all new residential developments is long overdue and is expected to bring a wide range of benefits to the UAE emirate, while driving further maturity in the market, according to leading international real estate consultants, Cluttons.

With the residential market in Dubai now meandering through the second half of the current property cycle and with values stabilising following the tremendous growth recorded in 2013 and the first half of 2014, the timing for the introduction of such legislation is ideal, it stated.

Steven Morgan, the chief executive of Cluttons Middle East said: “The issue of affordability has been one that has been quietly bubbling away in the background for some time. With the introduction of the federal mortgage caps and the doubling of property registration fees, we saw genuine end-users in the market forced into a holding pattern as they attempted to make the transition from rented accommodation to owner occupation.” Read more here >>