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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Govt eases property cooling measures: sellers’ stamp duty holding period now 3 years, rates cut; TDSR relaxed for retirees needing cash

SINGAPORE – The Government has relaxed some property cooling measures on the sellers’ stamp duty (SSD) front as well as the total debt servicing ratio framework (TDSR). The new rules take effect from March 11.

The SSD is currently payable by those who sell a residential property within 4 years of purchase, at rates of between 4 per cent and 16 per cent of the property’s value

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Shorter wait for BTO flats on the horizon: Lawrence Wong

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SINGAPORE — Young couples will soon be able to move into their new homes quicker, as the Government is looking to shorten the wait for public housing.

When implemented, the move will see the waiting period for Build-To-Order (BTO) flats dip to two to three years, from the current three to four years, said National Development Minister Lawrence Wong last week.

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Singapore condo resale prices up 0.5% in June in 4th straight monthly increase: SRX Property

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SINGAPORE – Resale prices of non-landed private homes in Singapore rose 0.5 per cent in June over the previous month, according to SRX Property’s flash estimates for last month released on Tuesday (July 12).

This marks the fourth consecutive monthly price increase. SRX also revised up May’s monthly increase to 0.7 per cent from 0.4 per cent.

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More HDB flats change hands, but resale prices remain unchanged in October

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SINGAPORE – Housing Board (HDB) resale prices stayed flat in October as the market continued to stabilise, but transaction volume picked up, according to SRX Property flash figures on Thursday (Nov 5).

From September to October, SRX’s HDB resale price index moved from 134.7 to 134.6, a negligible shift that means prices were essentially unchanged.

In contrast to the stable prices was a surge of activity, with 1,745 units changing hands in October – up 16 per cent from September’s 1,504 units, and 12.4 per cent higher than a year before. It was the highest monthly transaction volume so far this year.

The market was stable in both mature and non-mature estates, with prices unchanged. At their current levels, resale prices are 2.2 per cent lower than a year ago in mature estates, and 3 per cent lower in non-mature estates.

But there were marginal differences across flat types. Resale prices rose for three-room and executive flats by 0.7 per cent and 0.9 per cent respectively, but fell for four- and five-room flats by 0.8 per cent and 0.1 per cent respectively.

Source : http://www.straitstimes.com/singapore/housing/more-hdb-flats-change-hands-but-resale-prices-remain-unchanged-in-october

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Property Update (10 July 2015)

Ease property cooling measures? Depends on several factors, says Shanmugam | channelnewsasia.com

SINGAPORE : “I don’t know why people linked it to the elections … The state of the economy, the state of supply and demand, the state of prices and the linkage to wages – those are the factors,” says the Law and Foreign Affairs Minister.

Data lifts hopes of recovery; prices of resale flats inch up 0.1% in further sign that market may be stabilising

Data lifts hopes of recovery; prices of resale flats inch up 0.1% in further sign that market may be stabilising

HDB resale volume hits two-year high in June | straitstimes.com

SINGAPORE : The resale volume for Housing Board flats rose to its highest in two years last month, further signalling a market recovery.

There were 1,709 HDB flats sold in June, up by more than 8 per cent from the 1,575 units in May, according to the latest SRX Property data.

This is the highest since May 2013, and a third up from last June.

Resale prices also inched up by 0.1 per cent last month, after rising by 0.2 per cent in April and staying flat in May. While prices of three-room flats dipped by 0.2 per cent, those of four-room, five-room and executive flats were up by 0.3 per cent, 0.5 per cent and 0.7 per cent respectively.

This comes after months of prices heading south, following the introduction of market cooling measures such as an increased mortgage servicing ratio limit. Read more >>

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Prime home rents: S’pore third worst performer among 18 cities | asiaone.com

SINGAPORE : Asia was home to the best and the worst performers in the global prime residential leasing market in Q1, with Singapore ranked third-worst after prime rents here fell 4.9 per cent in the 12 months to March 2015.

This is according to a study by Knight Frank, an independent global property consultancy which tracks the data of 18 markets based on its network of global offices and research teams.

According to Knight Frank’s Prime Global Rental Index, Tokyo led the annual ranking for the second consecutive quarter with prime rents up 8.1 per cent. On the other end of the scale, Moscow and Beijing came in last on the index, with prime rents there falling by 5.3 per cent and 7 per cent respectively in the 12 months to March. Read more >>

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Vietnam Scrambles To Sustain Investor Appeal | forbes.com

VIETNAM : Vietnam devalued its currency two months ago as an overture to foreign investors who like the Southeast Asian country’s low costs but have a growing number of choices of where to park their capital. That move might have been just a start to ensuring these gold nuggets in a nearly $200 billion economy don’t leave for other fast-growing Asian nations.

The Communist government announced in June it would lift bans on foreign direct investment in 45 sectors, inviting untold amounts of foreign capital. It also mentioned plans to sell more assets of state-owned companies, beset otherwise by financial losses and poor transparency. Foreigners will be allowed to buy real estate, as well. And two weeks ago Vietnam issued a decree allowing foreign portfolio investors to buy up to 100% of the shares in locally listed firms, from an earlier maximum of 49%, laying aside the leadership’s earlier fears of losing control of prime companies to overseas funds.

Vietnam is using these measures to sustain foreign investor magnetism that had generated Asia’s fastest-growing stock market in 2013 and reviews as Asia’s best alternative to China for a factory base. The government is expected to keep easing business regulations so foreign investors, about 10% of the economy now, find new causes to capitalize the still impoverished and once war-ravaged country. Read more >>

Property Update (23 April 2015)

Suburban hotels can appeal to certain market segment: Analysts | channelnewsasia.com

SINGAPORE : One such hotel is the 15-storey Genting Hotel Jurong, which has 557 rooms, with rates ranging from S$380 to S$800 a night.

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More home sellers renting out their units first, amid declining prices | channelnewsasia.com

SINGAPORE : With the residential property market remaining sluggish, analysts have said more homeowners are choosing to rent out their homes first, hoping to fetch a better selling price when the market recovers.

However, this is putting downward pressure on rentals. Industry watchers said tenants are now signing shorter leases, expecting rentals to dip.

Prices of private homes have been on the downward trend since the third quarter of 2013, as property cooling measures kick in and loan curbs weigh on demand. Along with that, the number of resale transactions has also dropped.

The Urban Redevelopment Authority’s (URA) data showed that 4,860 private homes were sold in the secondary market in 2014, down from 6,671 in 2013, and sharply lower than the 13,214 in 2012.

Property watchers said the drop in resale volume suggests that potential sellers are holding back and putting out their units for rent instead. Read more here >>

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Q1 industrial rents, prices cool sharply on ramped-up govt supply: JTC | straitstimes.com

SINGAPORE : Industrial landlord JTC Corp reported on Thursday that industrial prices and rents have cooled significantly while occupancy rates have moderated as the Government stepped up supply of land and space.

Its market report for the first quarter of the year found that prices for all types of industrial space only grew 0.5 per cent, compared with a year ago.

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Rents of industrial space slid 2 per cent for the first three months of the year, compared with the same period a year ago, while occupancy rates fell 0.9 per cent. Read more here >>

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Singapore consumer prices fall in March for fifth straight month, by less-than-expected 0.3% | straitstimes.com

SINGAPORE : Falling housing rentals and transportation costs once again dragged consumer prices down for a fifth straight month in March, according to official data out Thusrday.

Singapore’s all-items consumer price index (CPI) fell 0.3 per cent last month from the same period a year ago. The fall was lower than the 0.5 per cent decline predicted by economists in a Reuters poll.

The last time Singapore experienced a prolonged drop in consumer prices – also known as deflation – was in 2009.
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Forbes richest real estate tycoons revealed | afr.com

It has been a good year for the world’s property tycoons, according to the ever-growing 2015 Forbes Billionaires List.

And it has been a particularly good year for Chinese real estate moguls: 10 of the top 20 richest real estate billionaires come from Hong Kong or mainland China, and they also make up the top three.

The richest real estate mogul on the list is Hong Kong’s Lee Shau Kee with an estimated worth of US$24.8 billion.

Dubbed “one of Hong Kong’s richest landlords” by Forbes, Lee is bullish in the property sector in Hong Kong and also mainland China. Read more here >>