Page 2 of 5 FirstFirst 12345 LastLast
Results 31 to 60 of 130

Thread: HDB, private apartment rentals set to rise

  1. #31
    Unregistered Guest

    Default Re: HDB, private apartment rentals set to rise

    Quote Originally Posted by Unregistered
    OMGGGGGGG JOB CUTS MORE AND MORE...HIGHEST SINCE 2004
    You are right. My agent called me and said rents dropping. In Oct asked 4K. Now 2.8K.

  2. #32
    Unregistered Guest

    Default Re: HDB, private apartment rentals set to rise

    Quote Originally Posted by Unregistered
    You are right. My agent called me and said rents dropping. In Oct asked 4K. Now 2.8K.
    Bullshit!!!! Dun mislead owners here,
    Moron no 3. catch

  3. #33
    Unregistered Guest

    Default Re: STI Closes Higher

    Quote Originally Posted by AFP

    STI Closes Higher
    Agence France-Presse
    Singapore
    Thursday, 3 April 2008

    Singapore shares ended higher on Thursday with the benchmark Straits Times Index up 46.94 points or 1.48% to 3,171.55.

    Up to 1.68 billion shares exchanged hands.

    Gainers beat losers, 374 to 284.

    'Most people are actually saying that the US is already in recession. I don't think it came as a shock to anybody,' said Chan Tuck Sing, dealing director at UOB Kay Hian.

    He said there are also 'hopes that people have factored in the worst' of the turmoil which has roiled global financial markets.

    Banking shares advanced, with DBS Group up 24˘ at S$19.82, United Overseas Bank up 16˘ at S$20.34 and Oversea-Chinese Banking Corp gaining 7˘ to S$8.53.

    City Developments led property gainers, rising 48˘ to S$12.40. Keppel Land closed up 17˘ at S$6.20 and CapitaLand gained 12˘ to S$6.80.

    Singapore Airlines rose 12˘ to S$16.06 and Singapore Telecommunications finished 7˘ higher at S$4.02.
    wooohahahaha people can be happy over a DEAD CAT BOUNCE

  4. #34
    Unregistered Guest

    Default Re: HDB, private apartment rentals set to rise

    Quote Originally Posted by Unregistered
    OMGGGGGGG JOB CUTS MORE AND MORE...HIGHEST SINCE 2004
    5% unemployment already? Are you joking?

  5. #35
    Unregistered Guest

    Default Re: HDB, private apartment rentals set to rise

    Quote Originally Posted by Unregistered
    Bullshit!!!! Dun mislead owners here,
    Moron no 3. catch
    Go and find out yrself.

  6. #36
    Unregistered Guest

    Default Re: HDB, private apartment rentals set to rise

    Quote Originally Posted by Unregistered
    You are right. My agent called me and said rents dropping. In Oct asked 4K. Now 2.8K.
    Also because many enblocs failing. Many developers who bought also dont want to tear down buildings now.

  7. #37
    Unregistered Guest

    Default Re: HDB, private apartment rentals set to rise

    Late Payments on Consumer Loans Highest Since 1992, ABA Says

    By Hugh Son

    April 3 (Bloomberg) -- Consumers fell behind on car, credit-card and home-equity loans at the highest level in 15 years during the fourth quarter, another sign the U.S. economy is slowing, according to an American Bankers Association survey.

    Payments at least 30 days past due increased across all eight categories of loans tracked, the Washington-based group said today in a statement. Late loans climbed 21 basis points to 2.65 percent of all accounts in a consumer-loan index created by the group.

    ``The rise in consumer credit delinquencies is consistent with a rapidly slowing economy,'' ABA chief economist James Chessen said in the statement. ``Stress in the housing market still dominates the story, but it's a broader tale.''


    Lenders including American Express Co., the third-biggest credit-card network, and Capital One Financial Corp. doubled reserves for soured U.S. debt in the fourth quarter. Overdue bank-card accounts reached 4.38 percent in the quarter, according to the ABA, as the slowing economy made it harder for consumers to repay debt.

    The overall increase was driven by late payments for car loans, which make up two-thirds of all closed-end consumer installment loans, Chessen said. Auto loan delinquencies rose to 1.9 percent from 1.81 percent. Overdue mobile home payments rose to 2.92 percent from 2.87 percent.

    Federal Reserve Chairman Ben S. Bernanke acknowledged for the first time yesterday that a U.S. recession is possible because consumer spending, employment and homebuilding will deteriorate this year.

    The U.S. economy grew at an annual pace of 0.6 percent from October to December. Growth probably slowed to a 0.2 percent annual rate in the first quarter, according to the median estimate of analysts surveyed by Bloomberg News.

    `Anemic' Income Growth

    Rising late payments will continue in the first half of this year, as ``food and gas prices remain stubbornly high and income growth is anemic,'' Chessen said.

    MasterCard Inc. Chief Executive Officer Robert Selander said in a March 11 interview that U.S. consumers are spending more on gasoline and food, crimping spending for luxury items. MasterCard is the second-biggest payment-card network after Visa Inc.

    ``What we see is a mix change in how consumers are spending,'' Selander said in the Bloomberg Radio interview. ``With the price of gasoline up approximately 30 percent from where it was a year ago, with commodities prices up and working their way into prices at the supermarkets, consumers are spending more of their money now on gas and groceries.''

  8. #38
    Unregistered Guest

    Default Re: HDB, private apartment rentals set to rise

    Quote Originally Posted by Unregistered
    Late Payments on Consumer Loans Highest Since 1992, ABA Says

    By Hugh Son

    April 3 (Bloomberg) -- Consumers fell behind on car, credit-card and home-equity loans at the highest level in 15 years during the fourth quarter, another sign the U.S. economy is slowing, according to an American Bankers Association survey.

    Payments at least 30 days past due increased across all eight categories of loans tracked, the Washington-based group said today in a statement. Late loans climbed 21 basis points to 2.65 percent of all accounts in a consumer-loan index created by the group.

    ``The rise in consumer credit delinquencies is consistent with a rapidly slowing economy,'' ABA chief economist James Chessen said in the statement. ``Stress in the housing market still dominates the story, but it's a broader tale.''


    Lenders including American Express Co., the third-biggest credit-card network, and Capital One Financial Corp. doubled reserves for soured U.S. debt in the fourth quarter. Overdue bank-card accounts reached 4.38 percent in the quarter, according to the ABA, as the slowing economy made it harder for consumers to repay debt.

    The overall increase was driven by late payments for car loans, which make up two-thirds of all closed-end consumer installment loans, Chessen said. Auto loan delinquencies rose to 1.9 percent from 1.81 percent. Overdue mobile home payments rose to 2.92 percent from 2.87 percent.

    Federal Reserve Chairman Ben S. Bernanke acknowledged for the first time yesterday that a U.S. recession is possible because consumer spending, employment and homebuilding will deteriorate this year.

    The U.S. economy grew at an annual pace of 0.6 percent from October to December. Growth probably slowed to a 0.2 percent annual rate in the first quarter, according to the median estimate of analysts surveyed by Bloomberg News.

    `Anemic' Income Growth

    Rising late payments will continue in the first half of this year, as ``food and gas prices remain stubbornly high and income growth is anemic,'' Chessen said.

    MasterCard Inc. Chief Executive Officer Robert Selander said in a March 11 interview that U.S. consumers are spending more on gasoline and food, crimping spending for luxury items. MasterCard is the second-biggest payment-card network after Visa Inc.

    ``What we see is a mix change in how consumers are spending,'' Selander said in the Bloomberg Radio interview. ``With the price of gasoline up approximately 30 percent from where it was a year ago, with commodities prices up and working their way into prices at the supermarkets, consumers are spending more of their money now on gas and groceries.''
    OH MORE PAIN ON THE WAY..........STUCKKKKKKKK OHHHHHH STUCKKKK

  9. #39
    Unregistered Guest

    Default Re: HDB, private apartment rentals set to rise

    Quote Originally Posted by Unregistered
    You are right. My agent called me and said rents dropping. In Oct asked 4K. Now 2.8K.
    Wah Great Singapore Sale! Please inform me the project name because i want to rent it for my china mei mei.Thks.

  10. #40
    Unregistered Guest

    Question Re: HDB, private apartment rentals set to rise

    Quote Originally Posted by Unregistered
    You are right. My agent called me and said rents dropping. In Oct asked 4K. Now 2.8K.
    Please don't spread lies no matter how sour your grapes are.

    If your property was offered 4K last Oct (and you can prove it), I will offer you NOT LESS than 4K NOW. Just send a note to my email at [email protected]

  11. #41
    Unregistered Guest

    Default Re: HDB, private apartment rentals set to rise

    Quote Originally Posted by Unregistered
    Continue from my post above about being on the side of the more powerful ...

    This is a different topic - the American economy.

    Don't worry, we have the FED and Bernanke on our side.

    They will step in everytime there is problem.

    The Central Bank can flood the whole market with US dollars because they have the ability to print infinite amounts of money.

    The victims are those who hold US currency, which will keep plunging and plunging. Don't worry. Most of those who hold US currency are the American people. However, Americans are just suffering their just retribution for their overspending years.

    Soon, the situation will correct itself because as the USD gets cheaper and cheaper, more and more people will buy American goods and go to America to tour. Then their economy will pick up again.

    We have Bernanke on our side, so we're safe.

    In addition to your above two postings, you may like to know of another source which would be beneficial to Singapore.

    I have received a number of enquiries, and increasing by the day, from both foreign investors (of Malaysian properties) and Malaysians themselves about Singapore properties. Why? They all want to abandon ship and sail to Singapore before the big fight. And what's the big fight that is brewing?

    First, the weakening UMNO is getting from bad to worse with Dr. M trying to split UMNO by intensifying his attack on Abdullah. He introduced a rule to stop UMNO members from challenging him, but now he wants to remove this rule so that Abdullah can be challenged -- a true hipo!

    Then there's Anwar definitely coming in next month in a by-election and he has already persuaded the DAP and PAS to join forces, and once he can get some BN MPs to defect, Anwar wants to be the next PM, and when he gets to be the new PM, he will defintely go all out to gun down Dr. M and his family purely for revenge.

    At that stage, riots may start, violence may be the order of the day. If you own a property in Malaysia, would your property be save? And would you be save?

    The exchange rate has already spoke for itself: RM2.27 before the elction and RM2.31 to the S$1 AFTER THE Election and is poised to drop to the RM 2.60 to RM2.70 range before the end of the year.

    Singapore, with it political stability, would be the obvious choice for Malaysian property owners.......

    This is what the Malaysian property owners have forecasted, not ours.

  12. #42
    Cheh-Cha Guest

    Default Re: HDB, private apartment rentals set to rise

    Quote Originally Posted by Unregistered
    In addition to your above two postings, you may like to know of another source which would be beneficial to Singapore.

    I have received a number of enquiries, and increasing by the day, from both foreign investors (of Malaysian properties) and Malaysians themselves about Singapore properties. Why? They all want to abandon ship and sail to Singapore before the big fight. And what's the big fight that is brewing?

    First, the weakening UMNO is getting from bad to worse with Dr. M trying to split UMNO by intensifying his attack on Abdullah. He introduced a rule to stop UMNO members from challenging him, but now he wants to remove this rule so that Abdullah can be challenged -- a true hipo!

    Then there's Anwar definitely coming in next month in a by-election and he has already persuaded the DAP and PAS to join forces, and once he can get some BN MPs to defect, Anwar wants to be the next PM, and when he gets to be the new PM, he will defintely go all out to gun down Dr. M and his family purely for revenge.

    At that stage, riots may start, violence may be the order of the day. If you own a property in Malaysia, would your property be save? And would you be save?

    The exchange rate has already spoke for itself: RM2.27 before the elction and RM2.31 to the S$1 AFTER THE Election and is poised to drop to the RM 2.60 to RM2.70 range before the end of the year.

    Singapore, with it political stability, would be the obvious choice for Malaysian property owners.......

    This is what the Malaysian property owners have forecasted, not ours.
    How easy to get a PR?
    Open a deposit? Buy a property? Both? What amount?

  13. #43
    Unregistered Guest

    Default Re: HDB, private apartment rentals set to rise

    Quote Originally Posted by Cheh-Cha
    How easy to get a PR?
    Open a deposit? Buy a property? Both? What amount?
    you "run road" ah ??
    dun come to singapore, wait umno come here and gun you down

  14. #44
    Unregistered Guest

    Default Re: HDB, private apartment rentals set to rise

    Quote Originally Posted by Cheh-Cha
    How easy to get a PR?
    Open a deposit? Buy a property? Both? What amount?
    Quote Originally Posted by Unregistered
    you "run road" ah ??
    dun come to singapore, wait umno come here and gun you down
    Don't listen to him. Come to Singapore please! It's safer here.

  15. #45
    Unregistered Guest

    Default Re: HDB, private apartment rentals set to rise

    Quote Originally Posted by Unregistered
    Don't listen to him. Come to Singapore please! It's safer here.
    Yes yes! Please bring your wealth here too. We will protect it.

  16. #46
    Unregistered Guest

    Default Re: HDB, private apartment rentals set to rise

    Quote Originally Posted by Unregistered
    Yes yes! Please bring your wealth here too. We will protect it.
    Wait! Don't come first. Let me buy first. Thanks!

  17. #47
    Unregistered Guest

    Default Re: HDB, private apartment rentals set to rise

    Quote Originally Posted by Unregistered
    Wait! Don't come first. Let me buy first. Thanks!
    Wah lau! So kiasu for what?

  18. #48
    Unregistered Guest

    Default Re: HDB, private apartment rentals set to rise

    Quote Originally Posted by mr funny
    HDB, private apartment rentals set to rise

    By Wong Siew Ying, Channel NewsAsia | Posted: 03 April 2008 0050 hrs


    SINGAPORE : Rentals for HDB and mass market private apartments are set to rise in the coming years, with more foreign workers heading for Singapore.

    Property agents expect rents to climb by about 10% this year.

    They say HDB flat-owners could gain from the spike in demand.

    Singapore's two integrated resorts will be ready in the next two years.

    Besides attracting more tourists, they are also expected to draw thousands of foreign workers to the city state.

    Resorts World at Sentosa says it will be hiring 10,000 people directly.

    And 40% of these jobs will go to foreigners, in view of the manpower crunch in Singapore.

    Property agents say some of the foreign workers, especially higher-ranking staff, will have the means to purchase private residential properties.

    But they expect the bulk of the workers to tap into the rental market for their housing needs. And this will push prices up in the short-term as supply plays catch up.

    On average, monthly rentals for private apartments range between $2,500 and $3,500 dollars.

    This may be too much for some workers.

    Mohamed Ismail, CEO of PropNex, said: "The public housing becomes next best alternative where today people are still able to rent at $1,500 to $2,000. I expect this trend to continue, as far as estates that will have a greater demand ... such as those in Telok Blangah, Bukit Merah, Bishan, Toa Payoh. Anything that is not too far away from town or to the integrated resorts will definitely have greater take-up rates."

    Industry players say private residential properties currently enjoy a rental yield of some 5%, while that of HDB flats is between 8 and 10% - among the highest ever in Singapore for public housing.

    All in, agents expects rentals to climb by some 10% in the next two years. - CNA/de
    Shit! 40% of the jobs go to foreigners.

  19. #49
    Unregistered Guest

    Default Re: HDB, private apartment rentals set to rise

    Quote Originally Posted by Unregistered
    Shit! 40% of the jobs go to foreigners.
    Why "shit"?
    But these foreigners pay you rental every month.
    You should thank them.

  20. #50
    Unregistered Guest

    Default Re: HDB, private apartment rentals set to rise

    Interesting analysis from Singapore expat forum. What do you guys say? Any views?


    Quote Originally Posted by Unregistered
    Posted: Sat Mar 29, 2008 8:54 pm Post subject: Singapore Property Going Down The Tubes?

    --------------------------------------------------------------------------------

    I sent my buddy an e-mail asking if it was a good time to buy property in Singapore...

    He's a Hong Kong based Asia property analyst for a small successful private investment bank.
    He sent me this....(don't shoot me, I'm just the messenger.)

    Quote:
    Well...I would wait at least another 6 months to a year.

    We told clients and investors to sell all Singapore holdings (property, stocks and everything else) in June 2007. We determined that prices would never, ever be higher and were predicting a 15% drop in pricing by March 2008 and 25% drop by June 2008.

    Rationale was simple and not rocket science.

    #1. There was no demand for housing when the boom started.
    The vacancy rates on existing housing were above New York, London, Hong Kong, Tokyo and other major urban market levels. A Singapore property boom made no sense at all.

    #2. Singapore GDP...nice impressive numbers. But the growth was 99% construction related. There is no economic growth when the construction boom ends and those numbers are subtracted from the total.

    #3. The existing luxury housing vacancy levels in Singapore were adequate to fill the needs of Singaporeans and any possible influx of new senior executives for the next 5 years. Thus, there was no demand for executive luxury housing in the market.

    #4. Value for money on Singapore property for foreign investors is not good when compared to other projected growth economies. (several factors are weighed including psf, quality of workmanship, size of economy, projected growth of economy, lifestyle and culture of the market.)

    #4. The targeted future population numbers of Singapore are pie in the sky and completely without substance. Singaporeans are not having kids and the demand for jobs in Singapore will be service led lower paying jobs to supply the planned tourism developments. Non of these new inhabitants will be buying or renting condo's, especially in the high-end. And tourists visit, they don't buy or rent.

    #5. Singapore is not a supply/demand driven economy. It is a small, managed economy. Thus, the property development plans were lofty, risky, and not based on future real supply/demand realities.

    #6. There is a lack of real, transparent, objective information available in the Singapore market about the Singapore market. This leads to investors belief in hype and speculation rather than economic principles.

    #7. Global money supplies and markets are taking a beating and will continue to take a beating. The second call on the sub prime products happens this June so more big losses are expected. This will stall or even damage the Singapore economy.

    We expect distress sales in the property market to start soon. The high-end rental market is non-existent and the higher % of all unit sales were high-end investment property, speculator driven.
    These buyers need "wealthy" renters to subsidize the million dollar mortgages. Most locals cannot afford the rents the market is demanding.
    Surveys of multinational companies and banks have indicated that there is no boat-load of expats with a big housing allowance arriving at the Singapore port anytime soon. The new owner is now stuck with 100% of a very expensive monthly mortgage.

    Here is an example of one major high-end development I'm following to prove the point. These are some very telling numbers.
    600+ units launched
    20+ remaining at $2,000 per square foot via the developer.
    100+ units previously sold are now for sale privately less than 7 months after launch for $1,300 to $1,600 per square foot.
    The reason...no rental income.
    That tells me that property owners are willing to admit that market prices are down 25%+ already. Unfortunately, even at a 25% discount, there are no buyers.

    Existing Singapore residents are keeping the rental market buoyant due to the fact they sold their old places and are waiting for the prices to drop...OR...waiting for their new unit to be completed. These people are relatively small in overall numbers and definitely not going to rent high end luxury units. They are driving HDB, middle priced housing rents up right now. They are also demanding 12 month leases or even less if they can get it proving that they are waiting to move or sitting on the sidelines waiting for prices to drop.

    The Singapore property market is massively oversupplied today and more units are on the way. This is not good. This is should be extremely troublesome to anyone who owns property anywhere in that market. The potential valuation losses in the property market could be enormous, especially at the high-end. Overall prices could sink well below SARS levels and this could happen within 6 months to a year.

    The short lived property boom was very much like a pyramid scheme.
    It was all hype and no substance.
    The first guys in are now smoking big cigars.
    The last guys in are now left holding the ashtray.

  21. #51
    Unregistered Guest

    Default Re: HDB, private apartment rentals set to rise

    Interesting analysis from Singapore expat forum. What do you guys say? Any views?



    Quote:
    Originally Posted by Unregistered
    Posted: Sat Mar 29, 2008 8:54 pm Post subject: Singapore Property Going Down The Tubes?

    --------------------------------------------------------------------------------

    I sent my buddy an e-mail asking if it was a good time to buy property in Singapore...

    He's a Hong Kong based Asia property analyst for a small successful private investment bank.
    He sent me this....(don't shoot me, I'm just the messenger.)

    Quote:
    Well...I would wait at least another 6 months to a year.

    We told clients and investors to sell all Singapore holdings (property, stocks and everything else) in June 2007. We determined that prices would never, ever be higher and were predicting a 15% drop in pricing by March 2008 and 25% drop by June 2008.

    Rationale was simple and not rocket science.

    #1. There was no demand for housing when the boom started.
    The vacancy rates on existing housing were above New York, London, Hong Kong, Tokyo and other major urban market levels. A Singapore property boom made no sense at all.

    #2. Singapore GDP...nice impressive numbers. But the growth was 99% construction related. There is no economic growth when the construction boom ends and those numbers are subtracted from the total.

    #3. The existing luxury housing vacancy levels in Singapore were adequate to fill the needs of Singaporeans and any possible influx of new senior executives for the next 5 years. Thus, there was no demand for executive luxury housing in the market.

    #4. Value for money on Singapore property for foreign investors is not good when compared to other projected growth economies. (several factors are weighed including psf, quality of workmanship, size of economy, projected growth of economy, lifestyle and culture of the market.)

    #4. The targeted future population numbers of Singapore are pie in the sky and completely without substance. Singaporeans are not having kids and the demand for jobs in Singapore will be service led lower paying jobs to supply the planned tourism developments. Non of these new inhabitants will be buying or renting condo's, especially in the high-end. And tourists visit, they don't buy or rent.

    #5. Singapore is not a supply/demand driven economy. It is a small, managed economy. Thus, the property development plans were lofty, risky, and not based on future real supply/demand realities.

    #6. There is a lack of real, transparent, objective information available in the Singapore market about the Singapore market. This leads to investors belief in hype and speculation rather than economic principles.

    #7. Global money supplies and markets are taking a beating and will continue to take a beating. The second call on the sub prime products happens this June so more big losses are expected. This will stall or even damage the Singapore economy.

    We expect distress sales in the property market to start soon. The high-end rental market is non-existent and the higher % of all unit sales were high-end investment property, speculator driven.
    These buyers need "wealthy" renters to subsidize the million dollar mortgages. Most locals cannot afford the rents the market is demanding.
    Surveys of multinational companies and banks have indicated that there is no boat-load of expats with a big housing allowance arriving at the Singapore port anytime soon. The new owner is now stuck with 100% of a very expensive monthly mortgage.

    Here is an example of one major high-end development I'm following to prove the point. These are some very telling numbers.
    600+ units launched
    20+ remaining at $2,000 per square foot via the developer.
    100+ units previously sold are now for sale privately less than 7 months after launch for $1,300 to $1,600 per square foot.
    The reason...no rental income.
    That tells me that property owners are willing to admit that market prices are down 25%+ already. Unfortunately, even at a 25% discount, there are no buyers.

    Existing Singapore residents are keeping the rental market buoyant due to the fact they sold their old places and are waiting for the prices to drop...OR...waiting for their new unit to be completed. These people are relatively small in overall numbers and definitely not going to rent high end luxury units. They are driving HDB, middle priced housing rents up right now. They are also demanding 12 month leases or even less if they can get it proving that they are waiting to move or sitting on the sidelines waiting for prices to drop.

    The Singapore property market is massively oversupplied today and more units are on the way. This is not good. This is should be extremely troublesome to anyone who owns property anywhere in that market. The potential valuation losses in the property market could be enormous, especially at the high-end. Overall prices could sink well below SARS levels and this could happen within 6 months to a year.

    The short lived property boom was very much like a pyramid scheme.
    It was all hype and no substance.
    The first guys in are now smoking big cigars.
    The last guys in are now left holding the ashtray.

    ++++++++++++++++++++++++++++++++++++
    Excellent post and thanks for this , I am cancelling my plans to buy property this year!!!!!!!

  22. #52
    Unregistered Guest

    Default Re: HDB, private apartment rentals set to rise

    Quote Originally Posted by Unregistered
    Interesting analysis from Singapore expat forum. What do you guys say? Any views?



    Quote:
    Originally Posted by Unregistered
    Posted: Sat Mar 29, 2008 8:54 pm Post subject: Singapore Property Going Down The Tubes?

    --------------------------------------------------------------------------------

    I sent my buddy an e-mail asking if it was a good time to buy property in Singapore...

    He's a Hong Kong based Asia property analyst for a small successful private investment bank.
    He sent me this....(don't shoot me, I'm just the messenger.)

    Quote:
    Well...I would wait at least another 6 months to a year.

    We told clients and investors to sell all Singapore holdings (property, stocks and everything else) in June 2007. We determined that prices would never, ever be higher and were predicting a 15% drop in pricing by March 2008 and 25% drop by June 2008.

    Rationale was simple and not rocket science.

    #1. There was no demand for housing when the boom started.
    The vacancy rates on existing housing were above New York, London, Hong Kong, Tokyo and other major urban market levels. A Singapore property boom made no sense at all.

    #2. Singapore GDP...nice impressive numbers. But the growth was 99% construction related. There is no economic growth when the construction boom ends and those numbers are subtracted from the total.

    #3. The existing luxury housing vacancy levels in Singapore were adequate to fill the needs of Singaporeans and any possible influx of new senior executives for the next 5 years. Thus, there was no demand for executive luxury housing in the market.

    #4. Value for money on Singapore property for foreign investors is not good when compared to other projected growth economies. (several factors are weighed including psf, quality of workmanship, size of economy, projected growth of economy, lifestyle and culture of the market.)

    #4. The targeted future population numbers of Singapore are pie in the sky and completely without substance. Singaporeans are not having kids and the demand for jobs in Singapore will be service led lower paying jobs to supply the planned tourism developments. Non of these new inhabitants will be buying or renting condo's, especially in the high-end. And tourists visit, they don't buy or rent.

    #5. Singapore is not a supply/demand driven economy. It is a small, managed economy. Thus, the property development plans were lofty, risky, and not based on future real supply/demand realities.

    #6. There is a lack of real, transparent, objective information available in the Singapore market about the Singapore market. This leads to investors belief in hype and speculation rather than economic principles.

    #7. Global money supplies and markets are taking a beating and will continue to take a beating. The second call on the sub prime products happens this June so more big losses are expected. This will stall or even damage the Singapore economy.

    We expect distress sales in the property market to start soon. The high-end rental market is non-existent and the higher % of all unit sales were high-end investment property, speculator driven.
    These buyers need "wealthy" renters to subsidize the million dollar mortgages. Most locals cannot afford the rents the market is demanding.
    Surveys of multinational companies and banks have indicated that there is no boat-load of expats with a big housing allowance arriving at the Singapore port anytime soon. The new owner is now stuck with 100% of a very expensive monthly mortgage.

    Here is an example of one major high-end development I'm following to prove the point. These are some very telling numbers.
    600+ units launched
    20+ remaining at $2,000 per square foot via the developer.
    100+ units previously sold are now for sale privately less than 7 months after launch for $1,300 to $1,600 per square foot.
    The reason...no rental income.
    That tells me that property owners are willing to admit that market prices are down 25%+ already. Unfortunately, even at a 25% discount, there are no buyers.

    Existing Singapore residents are keeping the rental market buoyant due to the fact they sold their old places and are waiting for the prices to drop...OR...waiting for their new unit to be completed. These people are relatively small in overall numbers and definitely not going to rent high end luxury units. They are driving HDB, middle priced housing rents up right now. They are also demanding 12 month leases or even less if they can get it proving that they are waiting to move or sitting on the sidelines waiting for prices to drop.

    The Singapore property market is massively oversupplied today and more units are on the way. This is not good. This is should be extremely troublesome to anyone who owns property anywhere in that market. The potential valuation losses in the property market could be enormous, especially at the high-end. Overall prices could sink well below SARS levels and this could happen within 6 months to a year.

    The short lived property boom was very much like a pyramid scheme.
    It was all hype and no substance.
    The first guys in are now smoking big cigars.
    The last guys in are now left holding the ashtray.

    ++++++++++++++++++++++++++++++++++++
    Excellent post and thanks for this , I am cancelling my plans to buy property this year!!!!!!!
    I have cancelled mine too

  23. #53
    Unregistered Guest

    Default Re: HDB, private apartment rentals set to rise

    Quote Originally Posted by mr funny
    Friday, April 4, 2008

    Property fever here starting to cool


    More signs of Singapore's property market slowing: Tenders for a plot of government development land have closed, attracting one of the lowest bids in recent years.

    The residential site bordering Choa Chu Kang Road and Woodlands Road on offer attracted just two bids. The highest offer came from an arm of Peak Properties, which is controlled by the Wee family. It offered $61 million, which works out to just $162 per sq ft (psf) per plot ratio.

    Knight Frank research head Nicholas Mak said: "The current bid is one of the lowest in recent years."

    The low point came last month when just $78 psf was offered for land in Westwood Avenue. This was rejected by the Urban Redevelopment Authority (URA).

    The last time residential land bids fell below $200 psf was between 2000 and 2002, at the height of Singapore's decade-long property slump. It is not yet known whether the URA will accept the Peal Properties' offer.

    The Choa Chu Kang Road site can be potentially used to develop up to 240 condominium units or serviced apartments.

    This tender may serve as a good benchmark for another nearby site in Choa Chu Kang Drive. Bids for this site close in May. Prices of completed units in nearby Maysprings condominium recently transacted at an average price of $530 to $630 psf.
    oh not again. only 2 bidders for 10 mile site.

  24. #54
    Unregistered Guest

    Default Re: HDB, private apartment rentals set to rise

    Economy Loses 80,000 Jobs, Worse Than Expected
    By Reuters | 04 Apr 2008 | 08:32 AM ET

    US employers cut payrolls for a third month in a row in March, slashing 80,000 jobs for the biggest monthly job decline in five years as the economy headed into a downturn, government data on Friday showed.


    The Labor Department revised the first two months of the year's job losses to a total of 52,000 from a previous estimate of 85,000. The March unemployment rate jumped to 5.1 percent from 4.8 percent, the highest since a matching rate in September 2005.

    The March job report was more bleak than expected.

    Economists polled ahead of the report forecast a decline of 60,000 in non-farm payrolls and a rise in the unemployment rate to 5 percent.

    "It's not a good number, clearly," said David Bianco, chief US equity strategist at UBS. "But the market has been braced for a bad number. Almost every investor equity and otherwise would acknowledge that we are in a recession but we still think it is a mild recession and we are going to have pretty good profit conditions in the S&P 500 for this quarter and for the rest of the year."

    During the first quarter of this year job losses averaged 77,000 a month, compared to average monthly gains of 76,000 in the last half of 2007, according to Keith Hall, Bureau of Labor Statistics Commissioner.

    Job losses were widespread during the month, with the biggest losses in the construction and manufacturing sectors.

  25. #55
    Unregistered Guest

    Default Re: HDB, private apartment rentals set to rise

    Quote Originally Posted by mr funny
    HDB, private apartment rentals set to rise

    By Wong Siew Ying, Channel NewsAsia | Posted: 03 April 2008 0050 hrs


    SINGAPORE : Rentals for HDB and mass market private apartments are set to rise in the coming years, with more foreign workers heading for Singapore.

    Property agents expect rents to climb by about 10 percent this year.

    They say HDB flat-owners could gain from the spike in demand.

    Singapore's two integrated resorts will be ready in the next two years.

    Besides attracting more tourists, they are also expected to draw thousands of foreign workers to the city state.

    Resorts World at Sentosa says it will be hiring 10,000 people directly.

    And 40 percent of these jobs will go to foreigners, in view of the manpower crunch in Singapore.

    Property agents say some of the foreign workers, especially higher-ranking staff, will have the means to purchase private residential properties.

    But they expect the bulk of the workers to tap into the rental market for their housing needs. And this will push prices up in the short-term as supply plays catch up.

    On average, monthly rentals for private apartments range between $2,500 and $3,500 dollars.

    This may be too much for some workers.

    Mohamed Ismail, CEO of PropNex, said: "The public housing becomes next best alternative where today people are still able to rent at $1,500 to $2,000. I expect this trend to continue, as far as estates that will have a greater demand ... such as those in Telok Blangah, Bukit Merah, Bishan, Toa Payoh. Anything that is not too far away from town or to the integrated resorts will definitely have greater take-up rates."

    Industry players say private residential properties currently enjoy a rental yield of some 5 percent, while that of HDB flats is between 8 and 10 percent - among the highest ever in Singapore for public housing.

    All in, agents expects rentals to climb by some 10 percent in the next two years. - CNA/de
    Swee liao lor!
    Huat ah! Huat ah!

  26. #56
    Unregistered Guest

    Default Re: HDB, private apartment rentals set to rise

    Quote Originally Posted by Messenger
    #1. There was no demand for housing when the boom started.
    The vacancy rates on existing housing were above New York, London, Hong Kong, Tokyo and other major urban market levels. A Singapore property boom made no sense at all.

    #2. Singapore GDP...nice impressive numbers. But the growth was 99% construction related. There is no economic growth when the construction boom ends and those numbers are subtracted from the total.

    #3. The existing luxury housing vacancy levels in Singapore were adequate to fill the needs of Singaporeans and any possible influx of new senior executives for the next 5 years. Thus, there was no demand for executive luxury housing in the market.

    #4. Value for money on Singapore property for foreign investors is not good when compared to other projected growth economies. (several factors are weighed including psf, quality of workmanship, size of economy, projected growth of economy, lifestyle and culture of the market.)

    #4. The targeted future population numbers of Singapore are pie in the sky and completely without substance. Singaporeans are not having kids and the demand for jobs in Singapore will be service led lower paying jobs to supply the planned tourism developments. Non of these new inhabitants will be buying or renting condo's, especially in the high-end. And tourists visit, they don't buy or rent.

    #5. Singapore is not a supply/demand driven economy. It is a small, managed economy. Thus, the property development plans were lofty, risky, and not based on future real supply/demand realities.

    #6. There is a lack of real, transparent, objective information available in the Singapore market about the Singapore market. This leads to investors belief in hype and speculation rather than economic principles.

    #7. Global money supplies and markets are taking a beating and will continue to take a beating. The second call on the sub prime products happens this June so more big losses are expected. This will stall or even damage the Singapore economy.
    I have some questions for Mr. Hong Kong Property Analyst, can you be my "messenger" as well.

    #1. ChannelNewsAsia on 27 February 2008 reported that "Last year, Singapore saw over 63,000 new PRs, an 11-per-cent increase from 2006; and the city-state also welcomed more than 17,000 new citizens, a 30-per-cent jump."

    Every year, we have 63,000 + 17,000 = 80,000 new immigrants, that is not including foreigners who come here on employment pass (but not taking up citizenships or PRs).

    What do you mean "no demand for housing"? May I know where these 80,000 people are going to stay? Inside the canals?

    In case you are not familiar with Singapore, here is the news URL to our government broadcasting station regarding the news I quoted above.

    http://www.channelnewsasia.com/stori...331492/1/.html

    #2. ChannelNewsAsia reported on 10 August 2007 that Singapore's "Financial services expanded by 17 per cent in the second quarter, up from 14 per cent growth in the first quarter, while the construction sector grew by 18 per cent, the strongest growth in almost 10 years. Growth in the manufacturing sector picked up pace to 8.3 per cent."

    No matter how I calculate, I don't know how you arrived at the figure that "growth was 99% construction related."?

    In case you are not familiar with Singapore, here is the news URL to our government broadcasting station regarding the news I quoted above.

    http://www.channelnewsasia.com/stori...293171/1/.html

    #3. You said "The existing luxury housing vacancy levels in Singapore were adequate to fill the needs of Singaporeans and any possible influx of new senior executives for the next 5 years. Thus, there was no demand for executive luxury housing in the market."

    Then may I ask you what about this person called Jet Li?

    Your Hong Kong magazine wrote "Actor Jet Li moved to Singapore last year for his daughters’ education, reported Hong Kong’s Next Magazine recently ... he bought a S$7mil (RM16.1mil) unit at nearby Ardmore Park condominium."

    Is Jet Li a "senior executive" from some Multinational Company? Must luxury housing be only for "senior executives"?

    Is Jet Li's purchase of Armore Park luxury condominium illegal? Since he is not a "senior executive"?

    #4. Can you explain why our "projected growth of economy" is no good?

    A MasterCard International survey showed that"Being often touted recently as the next unexplored, potential-filled Asian emerging economy, Vietnam unsurprisingly registered, among the 13 nations surveyed, the highest score of 94.3 points in the MasterIndex of Consumer Confidence (MCC), which ranges from 0 to 100 points, with Taiwan posting the lowest at 29.7 points. Hong Kong came in second position with a score of 85.9 points, closely followed by China and Singapore, which posted 85.5 and 83.6 points, respectively." http://news.cens.com/cens/html/en/ne...ner_22113.html

    Singapore is ranked fourth, after Vietnam (94.3 points), Hong Kong (85.9 points), China (85.5 points) and Singapore (83.6 points).

    Singapore is ranked 4th and just 2.3 points behind Hong Kong as the next unexplored, potential-filled Asian emerging economy, why is that considered "no good"?

    #4 (You've got two points #4 and this is the second one) You said "Non of these new inhabitants will be buying or renting condo's, especially in the high-end."

    Then what about Dr. Sudhir Gupta, "Born in India, moved to Russia to get Ph.D. in agricultural chemistry. Started tire company in Moscow ... Escaped assassination attempt in Moscow 4 years ago; now shuttles between that city and Singapore, where he's a citizen.

    http://www.forbes.com/lists/2006/79/...upta_AHUD.html

    He bought a luxury bungalow at Binjai Park for $12.55 million and 22 apartments, including the 63rd-storey penthouse, in the second tower of The Sail @ Marina Bay condo for a total $31 million.

    Aren't these properties considered "high end", can you define what is meant by "high end"?

    #5. I don't understand your this statement at all "Singapore is not a supply/demand driven economy. It is a small, managed economy. Thus, the property development plans were lofty, risky, and not based on future real supply/demand realities."

    This statement totally confounds me so I need you to explain what you mean?

    #6. Why do you say that Singapore lacks "real, transparent, objective information available"?

    According to Jones Lang LaSelle report on Global Real Estates Transparency, "Highly Transparent countries for the first time in 2006 are Hong Kong, Sweden, France and Singapore, each having jumped to Tier 1 from Tier 2 since the 2004 survey."

    http://www.joneslanglasalle.com/en-G...kets+Trans.htm

    Singapore and Hong Kong both have been promoted from Tier 2 to Tier 1 as "Highly Transparent Countries", together with Sweden and France.

    So can you please explain your statement "There is a lack of real, transparent, objective information available in the Singapore market about the Singapore market."?

    #7. You predicted that "Global money supplies and markets are taking a beating and will continue to take a beating. The second call on the sub prime products happens this June so more big losses are expected. This will stall or even damage the Singapore economy."

    I want to ask, if you are so good at predicting, then last June (just before the sub-prime) did you go short-sell USD100 billion worth of US stock futures contracts through leveraged margin-trading account? Especially short Bear-Stearns shares, then you would be a multi-billionaire by now.

    Then why are you still working as a "Asia property analyst for a small successful private investment bank."?

  27. #57
    Unregistered Guest

    Default Re: HDB, private apartment rentals set to rise

    Quote Originally Posted by Unregistered
    I have some questions for Mr. Hong Kong Property Analyst, can you be my "messenger" as well.

    #1. ChannelNewsAsia on 27 February 2008 reported that "Last year, Singapore saw over 63,000 new PRs, an 11-per-cent increase from 2006; and the city-state also welcomed more than 17,000 new citizens, a 30-per-cent jump."

    Every year, we have 63,000 + 17,000 = 80,000 new immigrants, that is not including foreigners who come here on employment pass (but not taking up citizenships or PRs).

    What do you mean "no demand for housing"? May I know where these 80,000 people are going to stay? Inside the canals?

    In case you are not familiar with Singapore, here is the news URL to our government broadcasting station regarding the news I quoted above.

    http://www.channelnewsasia.com/stori...331492/1/.html

    #2. ChannelNewsAsia reported on 10 August 2007 that Singapore's "Financial services expanded by 17 per cent in the second quarter, up from 14 per cent growth in the first quarter, while the construction sector grew by 18 per cent, the strongest growth in almost 10 years. Growth in the manufacturing sector picked up pace to 8.3 per cent."

    No matter how I calculate, I don't know how you arrived at the figure that "growth was 99% construction related."?

    In case you are not familiar with Singapore, here is the news URL to our government broadcasting station regarding the news I quoted above.

    http://www.channelnewsasia.com/stori...293171/1/.html

    #3. You said "The existing luxury housing vacancy levels in Singapore were adequate to fill the needs of Singaporeans and any possible influx of new senior executives for the next 5 years. Thus, there was no demand for executive luxury housing in the market."

    Then may I ask you what about this person called Jet Li?

    Your Hong Kong magazine wrote "Actor Jet Li moved to Singapore last year for his daughters’ education, reported Hong Kong’s Next Magazine recently ... he bought a S$7mil (RM16.1mil) unit at nearby Ardmore Park condominium."

    Is Jet Li a "senior executive" from some Multinational Company? Must luxury housing be only for "senior executives"?

    Is Jet Li's purchase of Armore Park luxury condominium illegal? Since he is not a "senior executive"?

    #4. Can you explain why our "projected growth of economy" is no good?

    A MasterCard International survey showed that"Being often touted recently as the next unexplored, potential-filled Asian emerging economy, Vietnam unsurprisingly registered, among the 13 nations surveyed, the highest score of 94.3 points in the MasterIndex of Consumer Confidence (MCC), which ranges from 0 to 100 points, with Taiwan posting the lowest at 29.7 points. Hong Kong came in second position with a score of 85.9 points, closely followed by China and Singapore, which posted 85.5 and 83.6 points, respectively." http://news.cens.com/cens/html/en/ne...ner_22113.html

    Singapore is ranked fourth, after Vietnam (94.3 points), Hong Kong (85.9 points), China (85.5 points) and Singapore (83.6 points).

    Singapore is ranked 4th and just 2.3 points behind Hong Kong as the next unexplored, potential-filled Asian emerging economy, why is that considered "no good"?

    #4 (You've got two points #4 and this is the second one) You said "Non of these new inhabitants will be buying or renting condo's, especially in the high-end."

    Then what about Dr. Sudhir Gupta, "Born in India, moved to Russia to get Ph.D. in agricultural chemistry. Started tire company in Moscow ... Escaped assassination attempt in Moscow 4 years ago; now shuttles between that city and Singapore, where he's a citizen.

    http://www.forbes.com/lists/2006/79/...upta_AHUD.html

    He bought a luxury bungalow at Binjai Park for $12.55 million and 22 apartments, including the 63rd-storey penthouse, in the second tower of The Sail @ Marina Bay condo for a total $31 million.

    Aren't these properties considered "high end", can you define what is meant by "high end"?

    #5. I don't understand your this statement at all "Singapore is not a supply/demand driven economy. It is a small, managed economy. Thus, the property development plans were lofty, risky, and not based on future real supply/demand realities."

    This statement totally confounds me so I need you to explain what you mean?

    #6. Why do you say that Singapore lacks "real, transparent, objective information available"?

    According to Jones Lang LaSelle report on Global Real Estates Transparency, "Highly Transparent countries for the first time in 2006 are Hong Kong, Sweden, France and Singapore, each having jumped to Tier 1 from Tier 2 since the 2004 survey."

    http://www.joneslanglasalle.com/en-G...kets+Trans.htm

    Singapore and Hong Kong both have been promoted from Tier 2 to Tier 1 as "Highly Transparent Countries", together with Sweden and France.

    So can you please explain your statement "There is a lack of real, transparent, objective information available in the Singapore market about the Singapore market."?

    #7. You predicted that "Global money supplies and markets are taking a beating and will continue to take a beating. The second call on the sub prime products happens this June so more big losses are expected. This will stall or even damage the Singapore economy."

    I want to ask, if you are so good at predicting, then last June (just before the sub-prime) did you go short-sell USD100 billion worth of US stock futures contracts through leveraged margin-trading account? Especially short Bear-Stearns shares, then you would be a multi-billionaire by now.

    Then why are you still working as a "Asia property analyst for a small successful private investment bank."?
    Mr Sour Grape, are you taking all these questions and answers to Mr Hong Kong Property Analyst in SingaporeExpat forum?

  28. #58
    Unregistered Guest

    Default Re: HDB, private apartment rentals set to rise

    Quote Originally Posted by The Straits Times

    Jurong's massive makeover
    Area the size of Marina Bay will be transformed with homes, hotels, shops, eateries and offices linked to MRT via walkways and waterways

    Jessica Cheam
    The Straits Times
    Saturday, 5 April 2008



    Extreme makeovers do not come more dramatic than this.
    In an ambitious plan unveiled yesterday, a large swathe of Jurong will be redeveloped and rebranded the Jurong Lake District.

    The 350ha area affected is similar in size to Marina Bay, and will boast all the elements of a vibrant mini-metropolis.

    That means new high-rises, hotels, apartments, shops, food places and offices as well as no end of water-related recreational pursuits, with everything linked to MRT stations via walkways and waterways.

    Unveiling the plans yesterday, National Development Minister Mah Bow Tan described Jurong as somewhat under-recognised, 'a gem yet to be uncovered and refined'.

    Among Singapore's public housing estates, Jurong has been something of an ugly duckling, its factories giving the place a decidedly industrial-town feel. This is an image it will shed in the next 10 to 15 years as the new plans come to life.

    Reinventing Jurong is a challenge, Mr Mah acknowledged. 'But we want to show that this is not pie in the sky, it's something real,' he said.

    Just look at the new Jurong Lake District.
    One thing for sure. Rental here will rise.

  29. #59
    Unregistered Guest

    Default Re: HDB, private apartment rentals set to rise

    Quote Originally Posted by Unregistered
    Just look at the new Jurong Lake District.
    One thing for sure. Rental here will rise.
    HYPE HYPE HYPE. I AM GLAD THOUGH THAT DIDT 9,10,11 WILL BE CHEAPER SINCE ALL WILL RUSH TO JURONG. WAH.

  30. #60
    Unregistered Guest

    Default Re: HDB, private apartment rentals set to rise

    Quote Originally Posted by Unregistered
    HYPE HYPE HYPE. I AM GLAD THOUGH THAT DIDT 9,10,11 WILL BE CHEAPER SINCE ALL WILL RUSH TO JURONG. WAH.
    Another cock here talking cork.

Similar Threads

  1. Private apartment resale prices rise in Jan
    By reporter2 in forum Singapore Private Condominium Property Discussion and News
    Replies: 0
    -: 12-02-16, 16:32
  2. Rentals for shoebox units on the rise
    By princess_morbucks in forum Singapore Private Condominium Property Discussion and News
    Replies: 11
    -: 14-11-13, 13:40
  3. Rentals keep up with rise in home prices
    By reporter2 in forum Singapore Private Condominium Property Discussion and News
    Replies: 1
    -: 28-01-13, 17:22
  4. Office vacancies rise, rentals fall despite positive take-up
    By mr funny in forum HDB, EC, commercial and industrial property discussion
    Replies: 0
    -: 25-10-09, 01:45
  5. Prices and rentals of landed homes set to rise
    By mr funny in forum Landed Property
    Replies: 1
    -: 27-03-08, 11:02

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •