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Thread: Residential rents seen rising further

  1. #1
    mr funny is offline Any complaints please PM me
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    Default Residential rents seen rising further

    Published March 27, 2008

    Residential rents seen rising further

    En bloc sales and population increase caused by influx of foreigners will continue to fuel demand, writes LEONARD TAY


    RESIDENTIAL rents bottomed out in 2004, recovering until 2007 when they staged an extraordinary rise, surging by more than 40 per cent within the year. This was the highest rate of increase in Urban Redevelopment Authority's private residential rental index since the index started in 1990.

    And 2008 is likely to see continued strength in rentals, although growing at a more modest pace of 5-10 per cent.

    Rents rose a negligible 0.2 per cent in 2004, and then a stronger 3.1 per cent in 2005, according to the URA private residential rental index. But as the residential sector recovered strongly from 2006 onwards, rental values rose more steeply.

    The non-landed residential segment, which forms the bulk of the leasing market, chalked up rental growth of 15 per cent in 2006 before sky-rocketing 43.1 per cent in 2007.

    A key reason for the supernormal growth in rents was the population increase as a result of immigration. Singapore's total population rose from 4,401,400 in 2006 to 4,588,600 in 2007, an addition of 187,200, of which Singapore residents made up 57,200 while foreigners constituted 130,000. This is a 14.8 per cent rise year-on-year and is the largest increase in the number of foreigners seen in over seven years. The foreign population refers to professionals, workers, students and their family members. This is the first time the total has crossed the one-million mark. The increase in 2006 was 9.7 per cent.

    Main attractions

    The positive run in the economy, growth prospects for the country and an attractive living environment brought many here, leading to the surge in demand for housing accommodation. The foreigners chose Singapore because of the job opportunities here and its connectivity to other major cities in Asia. Generally, they formed the bulk of the tenant pool and the prime districts (Orchard, Holland and Bukit Timah areas) were their favourite locations. However, due to the recent escalating rents, more expatriates have opted to move out of the prime districts for cheaper accommodation elsewhere. Some have even gone ahead to buy their own homes instead of renting.

    The swelling demand was further fuelled by the number of residential projects that were sold on the collective sale market. A number of displaced home owners have rented in the interim while waiting for their new replacement homes to be completed.

    While rents have increased islandwide, some regions are ahead of the pack. Rents in the Core Central Region (districts 9, 10, 11, Downtown Core and Sentosa) lead the market with a median rent of $3.86 per sq ft per month, going by URA's median rent numbers at end-2007. This is followed by the Rest of Central Region with a median rent of $2.74 psf per month and the areas Outside of Central Region with a median rent of $2.01 psf per month.

    Using CBRE Research's basket of properties for the luxury, prime and island-wide segments of the leasing market, average rents have reached even higher levels. The average rent for luxury residences ended 2007 at $6.10 psf per month, having risen 36 per cent during the year. Properties in this luxury class include the top 10 to 15 completed condominiums located in the prestigious areas around Orchard Road.

    Average rents for prime residential properties were $4.50 psf per month, having increased by 55 per cent in 2007, while islandwide rents were $2.65 psf per month, after rising 33 per cent in the same period.

    As rentals at prime and popular locations become more expensive, both local and foreign residents have been moving further out; first to the city fringe and eventually along the east-west axis of the MRT lines to the suburban areas. A comparison of non-landed median rents from the URA's Realis system in December 2006 and December 2007 shows that the most significant increases have not been restricted to the central areas, but have been seen in the eastern and western parts of the island.

    It should be noted that although districts 9 and 10 remain the most popular among expatriates, these districts have a range of old and new residences, leading to a relatively lower median rent compared with those in district 4. The residential landscape in district 4 (Telok Blangah/Harbourfront) is generally more homogenous and comprises newer developments that can fetch a premium.

    Outlook for 2008

    The leasing market is expected to remain firm in 2008 and rents will continue to rise, albeit at a more moderate pace in line with the less aggressive growth projected for the economy. The same phenomenon experienced in 2007 will continue into 2008 as fringe and suburban areas become more sought after by occupiers who find the higher rents in the prime central areas prohibitive. The spillover from the central area would cause rents to rise in other parts of the island and lead to overall growth in the leasing market.

    At the same time, as Singapore continues to attract the well-heeled from around the world, rents for luxury and city living condominiums in the popular areas around Orchard Road and the CBD will continue to move upwards. Average residential rents are expected to increase by about 5-10 per cent this year.

    Leonard Tay is a director of CBRE Research

  2. #2
    mr funny is offline Any complaints please PM me
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    Default Re: Residential rents seen rising further


  3. #3
    Fast and Furious Guest

    Default Re: Residential rents seen rising further

    Within a span of one hour we have so many ppl reporting correction for property and rosy outlook.
    It is schizophrenic here in this forum.

  4. #4
    Unregistered Guest

    Talking Re: Residential rents seen rising further

    Quote Originally Posted by Fast and Furious
    Within a span of one hour we have so many ppl reporting correction for property and rosy outlook.
    It is schizophrenic here in this forum.
    This is the last attempt this year to promote rosy outlook for property . from next week onwards prices going to drop !!!!

  5. #5
    Unregistered Guest

    Default Re: Residential rents seen rising further

    Quote Originally Posted by Unregistered
    This is the last attempt this year to promote rosy outlook for property . from next week onwards prices going to drop !!!!
    Record breaking land sale price this month in westcost,Yishun and Serangoon.Property price in Singapore will be up,up,Up.Cheong Ah ! Huat Ah$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

  6. #6
    Unregistered Guest

    Default Re: Residential rents seen rising further

    Quote Originally Posted by Unregistered
    Record breaking land sale price this month in westcost,Yishun and Serangoon.Property price in Singapore will be up,up,Up.Cheong Ah ! Huat Ah$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
    March 27, 2008

    Fund tops Serangoon site tender with $801m bid

    Located above MRT station, it will be used for a mall and new bus interchange

    By Joyce Teo, Property Correspondent

    Huat Ah $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$Cheong Ah$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

  7. #7
    typical singapore student Guest

    Default Re: Residential rents seen rising further

    Quote Originally Posted by Fast and Furious
    Within a span of one hour we have so many ppl reporting correction for property and rosy outlook.
    It is schizophrenic here in this forum.

    That's what makes this forum so special. It has no agenda at all and welcomes all points of view.

    Would you rather be spoonfed all good news? Or would you rather use your own brain to justify your thoughts and actions?

  8. #8
    Unregistered Guest

    Default Re: Residential rents seen rising further

    Quote Originally Posted by typical singapore student
    That's what makes this forum so special. It has no agenda at all and welcomes all points of view.

    Would you rather be spoonfed all good news? Or would you rather use your own brain to justify your thoughts and actions?
    Kwek leng beng used to spooned people with good news what the so called " 10yrs life cycle". Now where is he??? quiet like an owl. LOL

  9. #9
    Unregistered Guest

    Default Re: Residential rents seen rising further

    Quote Originally Posted by typical singapore student
    That's what makes this forum so special. It has no agenda at all and welcomes all points of view.

    Would you rather be spoonfed all good news? Or would you rather use your own brain to justify your thoughts and actions?
    SINGAPORE : Billion Rise - a company believed to be linked to Hong Kong property giant Cheung Kong Holdings - has put in the top bid of S$110.4 million for a residential site at West Coast Crescent.

    This works out to S$305 per square foot per plot ratio for the 99-year leasehold parcel.

    Analysts expect a break-even price of between S$680 and S$720 per square foot for a new condominium on the site. The units are expected to be marketed at around S$800 per square foot.

    The next highest offer of S$108.9 million came from Tian Hock Properties, and the lowest bid was S$50 million from Scantech Development.

    All in, the Urban Redevelopment Authority received 12 offers for the land parcel.

    Consultant CB Richard Ellis said the strong response signals developers' confidence in the suburban segment despite the current lukewarm response to new projects.

    Consultant Knight Frank expects the new condominium to yield about 300 units.

    It believes the high level of interest for the site is because it is close to schools and has a good view of Clementi Park, West Coast Park and the sea.

    The site spans 12,000 square metres and has a maximum permissible gross floor area of 33,600 square metres. This means that the proposed condominium could be built up to about 36 storeys.

    The winner of the award is expected to be announced after the bids have been reviewed. - CNA/ms


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  10. #10
    Unregistered Guest

    Talking Re: Residential rents seen rising further

    Quote Originally Posted by typical singapore student
    That's what makes this forum so special. It has no agenda at all and welcomes all points of view.

    Would you rather be spoonfed all good news? Or would you rather use your own brain to justify your thoughts and actions?
    Developer like Billion Rise ,MCL etc had invested million of dollar become topbid for the residential land site in singapore.You mean these million dollars investments are to spooned people with good news.With these high land cost bought by developers. The property price will definitely be going to up again.Huat Ah$$$$$$$$$$$$$$$$$$$$$$$Cheong AH$$$$$$$$$$$$$$$$$$$$$

  11. #11
    The Straits Times Guest

    Default Yishun Condo Site Draws Record Bid Of $213.5M


    Yishun condo site draws record bid of $213.5M
    Fiona Chan
    The Straits Times
    Wednesday, 26 March 2008

    A Yishun condominium site drew a higher-than-expected top bid when its tender closed yesterday, belying expectations of a property market slide.

    Developer MCL Land offered $213.5 million for the 99-year leasehold plot, which works out to about $350 per sq ft per plot ratio (psf ppr) - believed to be a new benchmark for Yishun.

    Property consultants said this could translate into the finished project selling at record prices for the area, even as home buyers are now holding out for lower prices in a subdued market.

    Mr Nicholas Mak, director of research and consultancy at Knight Frank, estimated that the end units for the Yishun project could be priced from $830 psf up to almost $900 psf.

    This would be almost double what the 99-year leasehold Orchid Park Condo down the road is fetching. Four units at the 14-year-old development have been sold there this year at an average price of $460 psf.

    MCL Land's bid pipped four others and came in almost 70% higher than the next bid, from Peak Green, at $127 million, or $208 psf ppr.

    Frasers Centrepoint, Sim Lian and Hong Kong's Cheung Kong also tabled offers ranging from $57.7 million to $109.7 million, or $95 to $180 psf ppr - which some consultants said were 'unrealistically low' bids. They had predicted bids of between $200 and $300 psf ppr.

    But Mr Li Hiaw Ho, executive director of CBRE Research, said the response was 'fairly robust' and signalled 'developers' confidence in the suburban segment despite the current lukewarm response to new projects'.

    'Should the United States enter a mild recession and the sub-prime problems clear up, sentiment for suburban homes should improve after June, bringing demand and upward price momentum back to the market.'

    Experts described MCL Land's offer as 'extremely bullish' and suggested that the developer may be short on land bank in the mass market segment.

    MCL Land said in its latest financial results that it bought some sites last year, including Holland Hill Mansions and Dynasty Court Garden 1 in Sixth Avenue. Its land bank can now yield 780 units with a total gross floor area of 1.4 million sqft.

    The Yishun site is at the corner of Yishun Avenues 1 and 2, and is 10 minutes' walk from Khatib MRT Station. It is next to Yishun Stadium and overlooks Lower Seletar Reservoir.

    'The site is good in that frontage to the reservoir is fantastic,' said Mr Ku Swee Yong, director of marketing and business development at Savills Singapore. 'I agree you should pay a premium for this site, but this seems to be a very significant premium.'

    Separately, HDB yesterday put two more sites up for sale through its reserve list system.

    One is a 182,986 sq ft plot at Jurong West Street 42 for executive condos, while the other is a 244,341 sq ft condo site at Chestnut Avenue in Bukit Panjang.


    High Bid = High Home Prices?

    Property consultants said the higher-than-expected offer by MCL Land could translate into the finished project selling at record prices for Yishun, even as home buyers are now holding out for lower prices in a subdued market.

  12. #12
    The Straits Times Guest

    Default Fund Tops Serangoon Site Tender With $801M Bid


    Fund tops Serangoon site tender with $801M bid
    Joyce Teo
    The Straits Times
    Thursday, 27 March 2008

    The sleepy Serangoon area received a huge vote of confidence yesterday when a fund bid a sky-high $800.9 million for a land site, which will be used for a mall and a new bus interchange.

    Six hopefuls lined up for the 99-year leasehold plot above Serangoon MRT station with four bidding over $660 million - well above the figure some people in the property industry thought the plot would attract.

    The $800.9 million bid came from Pramerica Real Estate Investors (Asia) but was submitted under the name Gold Ridge. It reflects a price of $850 psf of gross floor area.

    This was 10% above the second bid of $727 million from Serangoon Community Developments. Another bid came in at $401 million and one was a distant $215 million.

    The site - launched by the Land Transport Authority - is destined to be a hub with Serangoon MRT serving as a junction station for the new Circle Line. Any development must include a new bus interchange integrated with the enlarged North-East and Circle Line stations.

    The strategic location also offers enormous retail opportunities, say property experts.

    'Serangoon Central is not a heavy residential area but there are no major malls within a 3km to 5km radius,' said Mr Danny Yeo, Knight Frank's deputy managing director.

    'A mall can be a regional centre. The only tricky situation is that there can only be slightly over 200 carpark lots.'

    Pramerica intends to build a full retail centre. It manages the Asian Retail Mall Fund I and II, which own several malls here, including Liang Court in River Valley, White Sands in Pasir Ris and Century Square in Tampines.

    The Serangoon mall could have a net lettable area of around 600,000 sq ft, said CBRE Research executive director Li Hiaw Ho.

    That would make it of similar size to Parkway Parade in Marine Parade and IMM in Jurong.

    The plot is designated a white site, meaning it can be used for different functions, such as residential or commercial, but a full retail mall would bring the highest profit margin, said Savills Residential director Ku Swee Yong - and the highest risk in terms of cash flow.

    The site has a gross floor area of 87,527 sqm. Consultants said a mall could probably bring average gross rent of up to $14 psf.

    Assuming rent of $12 psf to $13 psf, the developers could expect a net income yield of about 5.5% on a stabilised basis, said Mr Li.

    Those who placed the lower bids were probably looking at a residential component, which could eventually sell for $800 psf to $900 psf, consultants said.

    While the residential space would help with cash flow, proceeds from apartment sales should not be used to fund the retail mall, said an industry expert.

    This is to avoid paying heavy taxes when the developer eventually sells the mall.

    Meanwhile, the Urban Redevelopment Authority made available two 99-year leasehold sites yesterday. Interested developers can apply to have these reserve list sites put up for tender.

    One is a 0.55ha plot at the junction of Clemenceau Avenue and Havelock Road, which is designated for a hotel of up to six storeys.

    Another is a 3.07ha residential plot in Upper Changi Road North.

    Mr Nicholas Mak, Knight Frank's director of research and consultancy, said the first site could accommodate a three- to four-star hotel with up to 270 rooms. If it is put up for tender, its land price is estimated to be $75 million to $81 million, or $600 psf to $650 psf of gross floor area.

    The second site could have up to 400 condo units and fetch between $83 million and $111 million, with new units commanding $650 psf to $720 psf.

  13. #13
    Unregistered Guest

    Default Re: Residential rents seen rising further

    Quote Originally Posted by Unregistered
    Record breaking land sale price this month in westcost,Yishun and Serangoon.Property price in Singapore will be up,up,Up.Cheong Ah ! Huat Ah$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
    Strong rental will provide good support to the market.
    Good!

  14. #14
    Unregistered Guest

    Default Re: Residential rents seen rising further

    [QUOTE=Unregistered]SINGAPORE : Billion Rise - a company believed to be linked to Hong Kong property giant Cheung Kong Holdings - has put in the top bid of S$110.4 million for a residential site at West Coast Crescent.

    This works out to S$305 per square foot per plot ratio for the 99-year leasehold parcel.

    Analysts expect a break-even price of between S$680 and S$720 per square foot for a new condominium on the site. The units are expected to be marketed at around S$800 per square foot.

    If you guys are not aware, HK Property Giant Cheung Kong Holdings is actually part of LKS's group of companies. These sharp, well informed Hongkoners just don't close one eye and buy. They know West Coast area is another gem waiting to be harvest. Billion Rise will ramp up the prices for WC/PP area, in 2-3 years time, you will see psf going up like no tomorrow. HUAT AH!!!!

  15. #15
    Unregistered Guest

    Default Re: Residential rents seen rising further

    [QUOTE=Unregistered]
    Quote Originally Posted by Unregistered
    SINGAPORE : Billion Rise - a company believed to be linked to Hong Kong property giant Cheung Kong Holdings - has put in the top bid of S$110.4 million for a residential site at West Coast Crescent.

    This works out to S$305 per square foot per plot ratio for the 99-year leasehold parcel.

    Analysts expect a break-even price of between S$680 and S$720 per square foot for a new condominium on the site. The units are expected to be marketed at around S$800 per square foot.

    If you guys are not aware, HK Property Giant Cheung Kong Holdings is actually part of LKS's group of companies. These sharp, well informed Hongkoners just don't close one eye and buy. They know West Coast area is another gem waiting to be harvest. Billion Rise will ramp up the prices for WC/PP area, in 2-3 years time, you will see psf going up like no tomorrow. HUAT AH!!!!
    Heard the team deciding on the bidding price is in serious trouble because the bidding price is way too high (75% higher than the second highest bid) which meant their knowledge of the local market and other property players are really limited!!!!

  16. #16
    Unregistered Guest

    Default Re: Residential rents seen rising further

    [QUOTE=Unregistered]
    Quote Originally Posted by Unregistered
    SINGAPORE : Billion Rise - a company believed to be linked to Hong Kong property giant Cheung Kong Holdings - has put in the top bid of S$110.4 million for a residential site at West Coast Crescent.

    This works out to S$305 per square foot per plot ratio for the 99-year leasehold parcel.

    Analysts expect a break-even price of between S$680 and S$720 per square foot for a new condominium on the site. The units are expected to be marketed at around S$800 per square foot.

    If you guys are not aware, HK Property Giant Cheung Kong Holdings is actually part of LKS's group of companies. These sharp, well informed Hongkoners just don't close one eye and buy. They know West Coast area is another gem waiting to be harvest. Billion Rise will ramp up the prices for WC/PP area, in 2-3 years time, you will see psf going up like no tomorrow. HUAT AH!!!!

    cheung kong ****ed up their costa del sol and thomson 800. they almost ****ed up their cairnhill crest also. u shouldn't take hint from cheung kong, because they have so much money, a wrong bet here and there doesn't matter to them.

  17. #17
    Unregistered Guest

    Default Re: Residential rents seen rising further

    [QUOTE=Unregistered]
    Quote Originally Posted by Unregistered

    Heard the team deciding on the bidding price is in serious trouble because the bidding price is way too high (75% higher than the second highest bid) which meant their knowledge of the local market and other property players are really limited!!!!
    ... but most importantly, huat ah!

  18. #18
    Unregistered Guest

    Default Re: Residential rents seen rising further

    [QUOTE=Unregistered]
    Quote Originally Posted by Unregistered


    cheung kong ****ed up their costa del sol and thomson 800. they almost ****ed up their cairnhill crest also. u shouldn't take hint from cheung kong, because they have so much money, a wrong bet here and there doesn't matter to them.
    ... but most importantly, huat ah!

  19. #19
    Unregistered Guest

    Default Re: Residential rents seen rising further

    Quote Originally Posted by Unregistered
    cheung kong ****ed up their costa del sol and thomson 800. they almost ****ed up their cairnhill crest also. u shouldn't take hint from cheung kong, because they have so much money, a wrong bet here and there doesn't matter to them.
    Quote Originally Posted by Unregistered
    ... but most importantly, huat ah!
    I tell you all. This time swee liao lah.

  20. #20
    Unregistered Guest

    Default Re: Residential rents seen rising further

    Quote Originally Posted by Unregistered
    Strong rental will provide good support to the market.
    Good!
    [/size='5']Chinese shares close 5.42% lower, steepest plunge in two months[/size]
    Posted: 27 March 2008 1535 hrs

    SHANGHAI: Chinese share prices on Thursday plunged 5.42 percent, the sharpest percentage decline in two months, amid fears about the impact of massive amounts of shares released into the market, dealers said.

    The benchmark Shanghai Composite Index, which covers A and B shares, closed down 195.36 points at 3,411.49 on turnover of 76.9 billion yuan (10.9 billion dollars).

    The Shanghai A-share Index was down 205.38 points or 5.43 percent at 3,578.92 on turnover of 76.7 billion yuan. The Shenzhen A-share Index lost 51.53 points or 4.25 percent to 1,161.67 on turnover of 34.9 billion yuan.

  21. #21
    Unregistered Guest

    Default Re: Residential rents seen rising further

    Quote Originally Posted by Unregistered
    Strong rental will provide good support to the market.
    Good!
    Chinese shares close 5.42% lower, steepest plunge in two months
    Posted: 27 March 2008 1535 hrs

    SHANGHAI: Chinese share prices on Thursday plunged 5.42 percent, the sharpest percentage decline in two months, amid fears about the impact of massive amounts of shares released into the market, dealers said.

    The benchmark Shanghai Composite Index, which covers A and B shares, closed down 195.36 points at 3,411.49 on turnover of 76.9 billion yuan (10.9 billion dollars).

    The Shanghai A-share Index was down 205.38 points or 5.43 percent at 3,578.92 on turnover of 76.7 billion yuan. The Shenzhen A-share Index lost 51.53 points or 4.25 percent to 1,161.67 on turnover of 34.9 billion yuan.

  22. #22
    Unregistered Guest

    Default Re: Residential rents seen rising further

    Quote Originally Posted by Unregistered
    Chinese shares close 5.42% lower, steepest plunge in two months
    Posted: 27 March 2008 1535 hrs

    SHANGHAI: Chinese share prices on Thursday plunged 5.42 percent, the sharpest percentage decline in two months, amid fears about the impact of massive amounts of shares released into the market, dealers said.

    The benchmark Shanghai Composite Index, which covers A and B shares, closed down 195.36 points at 3,411.49 on turnover of 76.9 billion yuan (10.9 billion dollars).

    The Shanghai A-share Index was down 205.38 points or 5.43 percent at 3,578.92 on turnover of 76.7 billion yuan. The Shenzhen A-share Index lost 51.53 points or 4.25 percent to 1,161.67 on turnover of 34.9 billion yuan.
    Oh China losing steam....rents will come down for sure.

  23. #23
    Unregistered Guest

    Default Re: Residential rents seen rising further

    Quote Originally Posted by Unregistered
    Oh China losing steam....rents will come down for sure.
    Oh China went up the last few days....rents will continue to go up for sure.
    Oh HongKong went up the last few days....rents will continue to go up for sure.

  24. #24
    Unregistered Guest

    Default Re: Residential rents seen rising further

    [QUOTE=Unregistered]
    Quote Originally Posted by Unregistered

    Heard the team deciding on the bidding price is in serious trouble because the bidding price is way too high (75% higher than the second highest bid) which meant their knowledge of the local market and other property players are really limited!!!!
    HKD pegged to USD and LKS's compay despearte to park more cash in other country ASAP to minimize the losses. Anyone can make serious mistake when you are in desperate situation. Don't worry for them though, they have the muscles to hold for a very long time.

  25. #25
    Unregistered Guest

    Default Re: Residential rents seen rising further

    [QUOTE=Unregistered]
    Quote Originally Posted by Unregistered

    HKD pegged to USD and LKS's compay despearte to park more cash in other country ASAP to minimize the losses. Anyone can make serious mistake when you are in desperate situation. Don't worry for them though, they have the muscles to hold for a very long time.
    Ask him to park in Singapore lah. We are getting stronger by the days and have a lot of parking lots for him.

  26. #26
    Unregistered Guest

    Default Re: Residential rents seen rising further

    [QUOTE=Unregistered]
    Quote Originally Posted by Unregistered
    Ask him to park in Singapore lah. We are getting stronger by the days and have a lot of parking lots for him.
    We can specially design very spacious parking lots for all his limousines. With our mio$ ministers' "can do" attitude, everything also can.

  27. #27
    Unregistered Guest

    Default Re: Residential rents seen rising further

    Merrill, UBS to Post Quarterly Loss, Oppenheimer's Whitney Says

    By Alexis Xydias

    March 27 (Bloomberg) -- Merrill Lynch & Co. and UBS AG will likely post a loss this quarter, strangled by increased writedowns from debt-related securities, according to Oppenheimer & Co. analyst Meredith Whitney.

    Whitney increased her forecast for first-quarter asset writedowns for New York-based Merrill to $6 billion from $2 billion, prompting her to reduce her quarterly estimate for the bank to a loss of $3 per share, from a profit of $0.45 previously, she wrote in a report dated yesterday.

    Zurich-based UBS will likely post a total write-off of $11 billion from collateralized debt obligations, leveraged loans and real-estate investments, Whitney wrote. The Swiss bank may report a first-quarter loss of $2.75 per share. She previously estimated a gain of $0.72 per share.

    Citigroup Inc. tumbled the most in the Dow Jones Industrial Average and led financials to their biggest retreat in almost two weeks after Whitney said the largest U.S. bank's quarterly loss will be four times bigger than previously forecast.

  28. #28
    Unregistered Guest

    Default Re: Residential rents seen rising further

    Quote Originally Posted by Unregistered
    Merrill, UBS to Post Quarterly Loss, Oppenheimer's Whitney Says

    By Alexis Xydias

    March 27 (Bloomberg) -- Merrill Lynch & Co. and UBS AG will likely post a loss this quarter, strangled by increased writedowns from debt-related securities, according to Oppenheimer & Co. analyst Meredith Whitney.

    Whitney increased her forecast for first-quarter asset writedowns for New York-based Merrill to $6 billion from $2 billion, prompting her to reduce her quarterly estimate for the bank to a loss of $3 per share, from a profit of $0.45 previously, she wrote in a report dated yesterday.

    Zurich-based UBS will likely post a total write-off of $11 billion from collateralized debt obligations, leveraged loans and real-estate investments, Whitney wrote. The Swiss bank may report a first-quarter loss of $2.75 per share. She previously estimated a gain of $0.72 per share.

    Citigroup Inc. tumbled the most in the Dow Jones Industrial Average and led financials to their biggest retreat in almost two weeks after Whitney said the largest U.S. bank's quarterly loss will be four times bigger than previously forecast.
    MORE AND MORE PAIN. NO RECOVERY IN SIGHT. 97 SURE TO REPEAT. BIGGER SCALE THIS TIME DUE TO INFLATION AND SHORTAGE OF FOOD. CANNOT EAT MONEY OR BRICKS WHAT.......

  29. #29
    Unregistered Guest

    Default Re: Residential rents seen rising further

    Quote Originally Posted by Unregistered
    MORE AND MORE PAIN. NO RECOVERY IN SIGHT. 97 SURE TO REPEAT. BIGGER SCALE THIS TIME DUE TO INFLATION AND SHORTAGE OF FOOD. CANNOT EAT MONEY OR BRICKS WHAT.......
    But they still perform above our expectation. So it is still good.

  30. #30
    Mrs Ong ChoonFah, DTZ Guest

    Default Re: Residential rents seen rising further

    'We'll have to accept that Singapore will be open to international competition, with funds and high net-worth individuals coming in. People who cannot afford to live in these areas will have to find alternative locations,'

    - Ong ChoonFah (Mrs)
    .. Executive Director
    .. DTZ

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    By mr funny in forum En Bloc Discussion and News
    Replies: 0
    -: 29-04-07, 11:00
  5. Prime residential DC seen rising 20-35%
    By mr funny in forum Singapore Private Condominium Property Discussion and News
    Replies: 0
    -: 12-02-07, 21:37

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