Tuesday, October 18, 2011

HDB upgraders set pace in private property market

SINGAPORE: The private residential market saw a rebound in September.

Figures released by the Urban Redevelopment Authority (URA) on Monday showed 2,064 units, including executive condominiums (ECs), were transacted.

This is the highest number of monthly transactions this year and a significant 26 per cent increase from August's 1,638 units.

Treasure Trove, a development in Punggol, accounted for about 40 per cent of the transactions with more than 680 units sold.

PropNex Realty said the homebuyers are mainly HDB upgraders, attracted to the pricing and the proximity of the development to the Punggol MRT.

It said the revision of income ceiling had prompted many to purchase ECs.
 

Source : MediaCorp Pte Ltd

Wednesday, October 12, 2011

New enhancements to HDB website e-services

SINGAPORE: From Wednesday, flat buyers will be able to enquire about the transacted resale prices within a 500-metre radius from any existing HDB block or DBSS project.

They can do this by specifying the HDB block or DBSS project, and a summary table on the range of transacted resale prices by flat type within a 500-metre-radius of the target property will be displayed. This will also include the range of floor areas and the number of resale transactions.

Users can access this enhanced e-Service on the HDB InfoWEB at http://www.hdb.gov.sg/map from 10am on 12 October.

Currently, the public can check for resale transactions made over the last one year via the Resale Flat Prices e-service or the Centralised Map Services enquiry facility. However, there is no enquiry facility for users to search using a distance criterion.

With the latest enhancement, the HDB said the public will have better information on resale prices near the particular property they are interested in. This will enable them to make an informed decision before committing to buy or sell a flat.
 

Source : MediaCorp Pte Ltd

Sunday, October 9, 2011

Property outlook? You are all alone

When there were first signs that the United States economy would slip back into recession, the US dollar fell against most currencies. However, when the euro zone debt crisis deepened, the greenback appreciated sharply. This caused a small but sudden spike in the Singapore Interbank Offered Rate to which most housing loans are pegged to.

So, this is how our local rates can ostensibly rise even when the US Federal Reserve promises to keep US rates low till mid-2013.

Talking about safe havens, gold's latest bull market began in late 2008 because investors longed for something tangible. This was because the value of stocks, bonds and even currencies was shaken by the financial crisis. People wondered whether any corporation or government was strong enough to stand behind a certificate.

As a physical possession, gold was one of the few investments that needed no such guarantee. Sounds familiar? Property is also something that most people would consider as tangible.

However, since its August peak, gold has fallen more than 15 per cent to around US$1,600 an ounce today. The recent collapse suggests that the 2011 gold rush was a speculative bubble that may have popped. What about property?
 
More details at http://www.todayonline.com

Source : MediaCorp Press Ltd  by Colin Tan, is Chesterton Suntec Internationl's head of research & consultancy.