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Thread: Boom Times Again For The Singapore Property Mkt

  1. #1
    joe
    Guest

    Default Boom Times Again For The Singapore Property Mkt

    19 Apr 2007 23:35 GMT =DJ HOT TOPIC: Boom Times Again For The Singapore Property Mkt


    A Dow Jones Newswires Column


    SINGAPORE (Dow Jones)--Singapore's private property market is on the rise after years in the doldrums. It looks like the boom times are back for real estate, given strong demand from locals and expatriates alike.

    There's talk it's just speculation behind the frothy market - with reports of investors flipping purchases for hefty profits and anecdotal evidence of wealthy expatriates snapping up a half dozen or so luxury apartments at property launches.

    Sellers haven't been complaining, with prices of non-landed private properties in the heart of Singapore's prime area up by 17% in 2006, while prices outside that area are up 3-4.2%.

    The bulk of the price increases have been in the luxury segment, but that's expected to filter down to the rest of the market, with some analysts tipping as much as a 20% increase in prices this year.

    While there may be a speculative element to these price gains, data also suggest there's strong underlying demand for property - and that demand is set to grow in the next few years.

    According to the 2003 master plan from the Urban Redevelopment Authority, Singapore's land-use planning agency, there are 324,000 homes in what it defines as Central Singapore. Stripping out public-housing flats from the Housing Development Board in the region - about 196,000 - leaves about 128,000 private condominiums and houses in the Central region.

    That's not very many, when you consider there are 55,000 high net worth individuals (net assets of at least S$1.5 million, excluding their primary residence) in Singapore, according to the 2006 Merrill Lynch/Capgemini report. The current supply of properties looks even smaller given there are about 140,000 households with monthly incomes of above S$10,000, according to the government's 2005 household survey.

    At the very least, this suggests the current supply of private property in the Central area should be met by demand.

    But there's also demand coming from people who've participated in en bloc sales, from those pocketing windfalls from the booming stock market amid relatively low mortgage rates, and from foreign investors in the property market.

    Even more demand can be expected given Singapore's plans for an eventual population of 6.5 million from about 4.5 million now; the total population grew about 142,000 or 3% in 2006, helped by the government's efforts to woo skilled foreign workers.

    Expatriate workers have already helped push rentals to their highest levels since 1999. Demand from this group will increase - last year Singapore's nonresident workforce grew about 10%, and there were about 90,000 skilled workers and professionals among them.

    Savills Singapore says rents for private homes were up 18.5% in the past year. Citigroup thinks rental rates could rise 30-40% this year as occupancy hits record highs.

    Recent data show a shortage of supply looming with the number of private residential units due for completion at just 5,000 for 2007 and 7,000 for 2008, according to Citigroup. In 2006, there was demand for 9,000 units while 10-year average demand is at 8,000.

    All told, local and foreign demand for private property in Singapore is set to grow, which coupled with shortages in supply put the real estate market on a path for red hot growth over the next few years.


    -By Colin Ng, Dow Jones Newswires; +65-6415-4142, [email protected]

  2. #2
    Observer
    Guest

    Default Re: Boom Times Again For The Singapore Property Mkt

    Quote Originally Posted by joe
    19 Apr 2007 23:35 GMT =DJ HOT TOPIC: Boom Times Again For The Singapore Property Mkt

    Colin Ng
    Dow Jones Newswires

    SINGAPORE (Dow Jones)--Singapore's private property market is on the rise after years in the doldrums. It looks like the boom times are back for real estate, given strong demand from locals and expatriates alike.

    There's talk it's just speculation behind the frothy market - with reports of investors flipping purchases for hefty profits and anecdotal evidence of wealthy expatriates snapping up a half dozen or so luxury apartments at property launches.

    Sellers haven't been complaining, .......... local and foreign demand for private property in Singapore is set to grow, which coupled with shortages in supply put the real estate market on a path for red hot growth over the next few years.

    With reports like this from Dow Jones, UBS, etc., how not to go up further? Rejoice everyone!

  3. #3
    (Lee)
    Guest

    Lightbulb Re: Boom Times Again For The Singapore Property Mkt

    Good day all you property pawns. It is glorious that everyone in Singapore is happy now. Jobs are all time high, you have thousands of new jobs(security guard, cleaner, waiter, cook....). There is also a master plan for the good of all glorious citizens by bringing in new quality companions, 2 million more (China students "many working in ktvs and prostitution", very rich caucasians "have lots of money needed to be washed and laundered" and Non-resident indians "bringing in their expertise and good work attitutes to give support (replace) your jobs so that you can improve your livelyhood). Now, property prices are still in growth rate, prices like $4,000psf is not uncalled-for. Out of 15% of the population are private property owners. They will have great growth in their assets(fact is only prime areas have real growth in prices, non-prime condominium projects eg:- hillview area, are still not growing. In fact many of the owners are still in negative equity).
    Be happy, as your lives are in fact improving for the better!!!!

  4. #4
    Registered
    Guest

    Default Re: Boom Times Again For The Singapore Property Mkt

    Quote Originally Posted by (Lee)
    Good day all you property pawns. It is glorious that everyone in Singapore is happy now. Jobs are all time high, you have thousands of new jobs(security guard, cleaner, waiter, cook....). There is also a master plan for the good of all glorious citizens by bringing in new quality companions, 2 million more (China students "many working in ktvs and prostitution", very rich caucasians "have lots of money needed to be washed and laundered" and Non-resident indians "bringing in their expertise and good work attitutes to give support (replace) your jobs so that you can improve your livelyhood). Now, property prices are still in growth rate, prices like $4,000psf is not uncalled-for. Out of 15% of the population are private property owners. They will have great growth in their assets(fact is only prime areas have real growth in prices, non-prime condominium projects eg:- hillview area, are still not growing. In fact many of the owners are still in negative equity).
    Be happy, as your lives are in fact improving for the better!!!!

    Agree with you that this is a happy boom time.
    I am very happy.
    Bought a few condo, all appreciated.
    It is a good time to increase wealth from the FDI.
    Cheer!

  5. #5
    lovelee
    Guest

    Talking Re: Boom Times Again For The Singapore Property Mkt

    Quote Originally Posted by (Lee)
    Good day all you property pawns. It is glorious that everyone in Singapore is happy now. Jobs are all time high, you have thousands of new jobs(security guard, cleaner, waiter, cook....). There is also a master plan for the good of all glorious citizens by bringing in new quality companions, 2 million more (China students "many working in ktvs and prostitution", very rich caucasians "have lots of money needed to be washed and laundered" and Non-resident indians "bringing in their expertise and good work attitutes to give support (replace) your jobs so that you can improve your livelyhood). Now, property prices are still in growth rate, prices like $4,000psf is not uncalled-for. Out of 15% of the population are private property owners. They will have great growth in their assets(fact is only prime areas have real growth in prices, non-prime condominium projects eg:- hillview area, are still not growing. In fact many of the owners are still in negative equity).
    Be happy, as your lives are in fact improving for the better!!!!
    We love you LEE.

  6. #6
    Citibank
    Guest

    Default Singapore Residential Property Prices To Rise 30% By 2008: Citigroup

    Citibank: Property Prices Will Rise By 30%
    Daryl Loo
    Channel NewsAsia
    23 April 2007 2042 hrs


    Home prices in Singapore are expected to rise much more than those in Hong Kong, over the next two years, according to Citigroup.

    Speaking at an Asia Pacific property conference in Singapore on Monday, Citigroup analysts say they see Singapore residential prices jumping by as much as 30% by 2008 compared to just 10% for Hong Kong.

    Price tags for private homes in Singapore will be on the rise for at least the next two years, according to Citigroup.

    It sees Singapore as being in the early stages of a cyclical upswing.

    This is in contrast to Hong Kong, where the cycle is on the downtrend - and expected to end by 2009.

    They say that Singapore prices are being driven by high occupancy rates, which have hit a record peak of 95.7%, and set to even climb higher over the next two years.

    Wendy Koh, Director, Asia Pacific Equity Research, Citigroup, said: "If you look at the residential sector, occupancy rate right now is about 93.9 percent as at the end of 2006. If we take into account the completion this year which is only about 5,000 units, and last year's demand was about 9,000, and on annual basis the last 10-year average was about 8,000, occupancy rates should continue to rise.

    "And if you take into account the 3,500 units that were sold en bloc last year, occupancy rate is actually closer to 95.5% last year. That is a record high as we have not seen that sort of levels before."

    Citigroup expects occupancy to rise further to 96.8 percent this year, and 97.1 percent in 2008, as the level of demand far outstrips supply.

    Over in the office sector, it is predicting rentals to rise 56% to $18.50 psf by the end of 2008, up from $11.80 currently.

    And despite the recent run-up in property counters, Citigroup sees further upside in some choice picks.

    Ms Koh said: "We like City Developments, Wing Tai, Allgreen. We also like Keppel Land for office play. For the first three stocks, it's more the residential exposure. If you look at City Dev and Wing Tai, they have been replenishing their land bank, and riding the upswing in the residential market."

    Private home prices in Singapore rose 10.2% last year, and an estimated 4.6% in the first quarter of this year.

  7. #7
    COOL!
    Guest

    Talking Re: Boom Times Again For The Singapore Property Mkt

    Quote Originally Posted by (Lee)
    Good day all you property pawns. It is glorious that everyone in Singapore is happy now. Jobs are all time high, you have thousands of new jobs(security guard, cleaner, waiter, cook....). There is also a master plan for the good of all glorious citizens by bringing in new quality companions, 2 million more (China students "many working in ktvs and prostitution", very rich caucasians "have lots of money needed to be washed and laundered" and Non-resident indians "bringing in their expertise and good work attitutes to give support (replace) your jobs so that you can improve your livelyhood). Now, property prices are still in growth rate, prices like $4,000psf is not uncalled-for. Out of 15% of the population are private property owners. They will have great growth in their assets(fact is only prime areas have real growth in prices, non-prime condominium projects eg:- hillview area, are still not growing. In fact many of the owners are still in negative equity).
    Be happy, as your lives are in fact improving for the better!!!!
    hahahahahahaa.

  8. #8
    Registered
    Guest

    Default Re: Singapore Residential Property Prices To Rise 30% By 2008: Citigroup

    Quote Originally Posted by Citibank
    Citibank: Property Prices Will Rise By 30%
    Daryl Loo
    Channel NewsAsia
    23 April 2007 2042 hrs

    Home prices in Singapore are expected to rise much more than those in Hong Kong, over the next two years, according to Citigroup.

    Speaking at an Asia Pacific property conference in Singapore on Monday, Citigroup analysts say they see Singapore residential prices jumping by as much as 30% by 2008 compared to just 10% for Hong Kong.

    Price tags for private homes in Singapore will be on the rise for at least the next two years, according to Citigroup.

    It sees Singapore as being in the early stages of a cyclical upswing.

    This is in contrast to Hong Kong, where the cycle is on the downtrend - and expected to end by 2009.

    They say that Singapore prices are being driven by high occupancy rates, which have hit a record peak of 95.7%, and set to even climb higher over the next two years.

    Wendy Koh, Director, Asia Pacific Equity Research, Citigroup, said: "If you look at the residential sector, occupancy rate right now is about 93.9% as at the end of 2006. If we take into account the completion this year which is only about 5,000 units, and last year's demand was about 9,000, and on annual basis the last 10-year average was about 8,000, occupancy rates should continue to rise.

    "And if you take into account the 3,500 units that were sold en bloc last year, occupancy rate is actually closer to 95.5% last year. That is a record high as we have not seen that sort of levels before."

    Citigroup expects occupancy to rise further to 96.8% this year, and 97.1% in 2008, as the level of demand far outstrips supply.

    Over in the office sector, it is predicting rentals to rise 56% to $18.50 psf by the end of 2008, up from $11.80 currently.

    And despite the recent run-up in property counters, Citigroup sees further upside in some choice picks.

    Ms Koh said: "We like City Developments, Wing Tai, Allgreen. We also like Keppel Land for office play. For the first three stocks, it's more the residential exposure. If you look at City Dev and Wing Tai, they have been replenishing their land bank, and riding the upswing in the residential market."

    Private home prices in Singapore rose 10.2% last year, and an estimated 4.6% in the first quarter of this year.

    We have come a long way since 1997 and SARS. Our wealth can finally be further enhanced with this property boom. The boom cycle has just started. Let's enjoy it for the next 5-7 years.

  9. #9
    SG no1
    Guest

    Default Re: Boom Times Again For The Singapore Property Mkt

    Quote Originally Posted by (Lee)
    Good day all you property pawns. It is glorious that everyone in Singapore is happy now. Jobs are all time high, you have thousands of new jobs(security guard, cleaner, waiter, cook....). There is also a master plan for the good of all glorious citizens by bringing in new quality companions, 2 million more (China students "many working in ktvs and prostitution", very rich caucasians "have lots of money needed to be washed and laundered" and Non-resident indians "bringing in their expertise and good work attitutes to give support (replace) your jobs so that you can improve your livelyhood). Now, property prices are still in growth rate, prices like $4,000psf is not uncalled-for. Out of 15% of the population are private property owners. They will have great growth in their assets(fact is only prime areas have real growth in prices, non-prime condominium projects eg:- hillview area, are still not growing. In fact many of the owners are still in negative equity).
    Be happy, as your lives are in fact improving for the better!!!!
    SG!SG!SG!SG!SG!SG!SG!SG!SG!SG!SG!SG!SG!SG!SG!SG!SG!SG!SG!SG!SG!SG!SG!SG!SG!SG!SG!SG!SG!SG!SG!SG!SG!SG!SG!SG!SG!SG!SG!SG!SG!SG!SG!SG!SG!SG!SG!SG!SG!SG!SG!SG!SG!SG!SG!SG!SG!SG!SG!SG!

  10. #10
    (Lee)
    Guest

    Lightbulb Re: Boom Times Again For The Singapore Property Mkt

    Another good day to all you property pawns. My media and propaganda has really worked very well, my developers are given instructions to aquire big plots of prime land at high prices to raise the benchmark of the whole area. This year will be a very rosy year for all you condo owners. All prime, sub-prime and centralized non-prime will go up in prices to give you a general boost in your assests. This year the national day parade will be held on the floating platform next to marina square. Year-end or 1st quater of 2008 will be the completion of the Singapore flyer. 2009 we will expect to see the structures of the Marina sands IR formed. 2010 genting, if stanly ho does not start to muscle in (hopefully), should be finishing the construction.
    Pawns! you will have 3 years of unlimited hype and propaganda until the Master plan is concieved. There will be many opportunities and choices of private property in the market within the next few years, so choose, but choose wisely.

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