It is in the collective consciousness of Singaporeans that owning property is a big part of being – and getting – rich. For many families in Singapore, investing in property has proven to be a good way to preserve, if not enhance, their wealth and to build up a retirement nest egg. Veteran property consultant Tan Tiong Cheng, president of Knight Frank Asia Pacific, recalls that in the early 1970s, one could buy a freehold terrace house in the Siglap area for about S$25,000 to S$30,000; today you’d pay S$2.7 million to S$3 million for one. Similarly, a semi-detached house in the vicinity would have cost in the ballpark of S$35,000 to S$40,000 back then; today’s prices are S$4 million to S$4.5 million. “So in both cases, prices today are about 100 times what they were nearly five decades ago,” he said.
Singapore — A report from CBRE Research said Singapore was the biggest Asian outbound property investor in the first half of the year. This comes as overall Asian outbound investment declined compared to the same period last year due to capital controls in China.
Singapore — The Singapore sovereign wealth fund is expected to invest more in real estate going forward as the returns are higher than other fixed income assets such as government bonds, experts say.
SINGAPORE — URA reported that the private residential property index for 3Q2017 have increased by 0.5 per cent. This is the first time an increase has been seen, after 15 straight quarters, or close to four years, of decline.
Having endured a lacklustre market for four years, there is finally good news for property experts and real estate developers to get excited about. But should you, as a retail investor, be looking to jump back in to the market now that sentiments are slowly starting to pick up?
Of course, this is the million-dollar question on everyone’s mind. Should we buy a private property now in the hopes that we can strike it rich when the market takes off, or do we risk missing out on the cycle?
PETALING JAYA – Singaporean police are investigating a property company believed to be involved in a ponzi scheme that conned hundreds of Malaysians investors out of millions.
According to an ABC report, the company is controlled by Australian Veronica Macpherson and received over A$110 million (S$119 million), mostly from Singaporean and Malaysian investors.
SINGAPORE — The Council for Estate Agencies’ (CEA) Disciplinary Committee has slapped a $10,000 fine on real estate agency SQFT Global Properties Singapore for failing to supervise the conduct of its then agent on the sale and marketing of a New Zealand property in 2011.
The agent, Ms Paleenia Wong Mui Wah, was fined $6,000 for misrepresentation towards an investor of a unit in Albany Heights Villas, Auckland, said the CEA in a media release issued yesterday.
SINGAPORE : A new JLL report is extolling the virtues of buying a prime residential property in Singapore now, given how “affordable” they have become compared to other global cities in the last four years. This is in spite of the loan curbs and tax burdens in place.
The real estate consultancy estimates that the average luxury prime residential price of S$1,991 per square foot (psf) in the fourth quarter of 2015 is about 20 per cent off the peak in 2011.
This is the biggest correction across domestic asset classes in the last four years. Office, retail and industrial property prices have fallen 4-6 per cent; suburban residential prices are down 12 per cent.