Terrace homes comprise the lion’s share of landed homes
Dec 30, 2009 - PropertyGuru.com.sg
Prices of landed homes continue to escalate this year in the five most renowned districts despite the setting in of price fatigue for apartments and condominiums.
Credo Real Estate’s caveats analysis, which covered a period of four years from the time when residential property commenced into the market in 2006, presents that terrace house prices were the most resilient over the last four years, increasing by more than 50 percent in some areas.
More than semi-detached bungalows and houses, the average price of terrace houses per square foot has risen time after time between 2006 and 2009 in the five most popular districts.
District 19 is the most in demand landed housing location, followed by Districts 15, 28, 20 and 10.
The study conducted by Credo does not include Sentosa Cove (Singapore’s much exclusive landed housing locations) and the Good Class Bungalow Areas (GCBAs), and strata landed homes. The latter are usually built more intensively than conventional landed housing. They are hybrid housing structure with shared condo-type facilities like tennis courts and swimming pool.
While prices of terrace homes have fared relatively better compared to bungalows and semi-Ds, landed home prices in general have also appreciated steadily between 2006 and 2009 in the five districts. “For most districts and sub-classifications of landed, we are at the all-time peak in terms of prices,” said Karamjit Singh, managing director for Credo.
In most instances, price gains were attained in 2008 amid the general property slump.
Such resilience was attributed by agents to the relatively limited supply and stock of landed homes.
“There's a very strong desire on the part of many Singaporean households to upgrade to landed property, which is regarded as an emotionally satisfying form of housing to own because you actually own something very tangible on the ground rather than in the air,” said Mr. Singh.
The promotion of the government for larger families - with three or more children - has also driven more parents to consider having bigger homes with no less than four bedrooms.
“Many times you'll find terrace houses offer better value than large apartments and condos. A 2,000 sq ft 4-plus-1, brand-new freehold condo in Katong might costs $2.4 million. But you can probably buy an intermediate terrace for about $2 million and have a bigger gross floor area of 2,500 sq ft, with saleable area inclusive of car porches possibly exceeding 3,000 sq ft. And you could have as many as five bedrooms,” Mr. Singh said.
Terrace homes form the bulk of landed housing stock in Singapore, accounting for the lion's share or almost 60 percent of the total 1,552 caveats lodged this year for landed homes in the five hot spots.
Wednesday, December 30, 2009
S’pore government promises affordable homes despite housing price increases
S’pore government promises affordable homes despite housing price increases
Dec 30, 2009 - PropertyGuru.com.sg
It has been a tough ride for the property market in Singapore this year, plummeting in the first quarter before accounting a good rebound.
Market experts said that the housing market will more likely continue to rise in 2010, spurred by economic recovery, as well as the opening of Singapore’s integrated resorts (IRs).
The sharp turnaround of the property sector was something that no one has predicted.
Singapore welcomes the year in the midst of economic recession, and the output was bleak. But as the stock market responded in March, the output has improved.
Several market watchers said that repressed demand over the last year and the "herd instinct" triggered the buying frenzy.
National Development Minister Mah Bow Tan noted that it was an exceptional period.
"Nobody, no matter how prescient, no matter how clever, would have been able to predict that this is what is going to happen this year. All of us were caught off-guard...I did not expect the prices to go up. But the point is, are we able to respond to this change. And the answer is yes," the Minister said.
The fear of property bubbles drove the government to introduce several measures such as removing easy financing schemes to cool down the private homes sector, and taking out interest absorption scheme and interest only loan to temper the exuberance of the market.
Eugene Lim, associate director for ERA Asia Pacific, said, "The market will probably stabilise for now. But I would say that when the IR opens, and when more international investors do come into Singapore, we may expect another run. Especially now, in the recent one, two months, we have noticed a pick up in high-end properties priced above S$2,000 per square foot."
Although housing prices are expected to rise in 2010, Minister Mah said the government is monitoring the situation and will take necessary action. For instance, the Minister said that more land will be released to property developers if needed. He also promised that HDB will have more Build-To-Order projects intended particularly for first-time homebuyers.
But he said that calls for the government to intervene in housing prices is not a good solution.
"The whole question is, do we peg HDB flats to the market, or whether we follow another system. And that other system is what some countries use.”
"In other words, I sell you a flat at fixed price, when you sell the flat, you have to sell it back to me also at a fixed price. In other words, you are not allowed to profit from the flat. There you can keep flat prices fixed."
Dec 30, 2009 - PropertyGuru.com.sg
It has been a tough ride for the property market in Singapore this year, plummeting in the first quarter before accounting a good rebound.
Market experts said that the housing market will more likely continue to rise in 2010, spurred by economic recovery, as well as the opening of Singapore’s integrated resorts (IRs).
The sharp turnaround of the property sector was something that no one has predicted.
Singapore welcomes the year in the midst of economic recession, and the output was bleak. But as the stock market responded in March, the output has improved.
Several market watchers said that repressed demand over the last year and the "herd instinct" triggered the buying frenzy.
National Development Minister Mah Bow Tan noted that it was an exceptional period.
"Nobody, no matter how prescient, no matter how clever, would have been able to predict that this is what is going to happen this year. All of us were caught off-guard...I did not expect the prices to go up. But the point is, are we able to respond to this change. And the answer is yes," the Minister said.
The fear of property bubbles drove the government to introduce several measures such as removing easy financing schemes to cool down the private homes sector, and taking out interest absorption scheme and interest only loan to temper the exuberance of the market.
Eugene Lim, associate director for ERA Asia Pacific, said, "The market will probably stabilise for now. But I would say that when the IR opens, and when more international investors do come into Singapore, we may expect another run. Especially now, in the recent one, two months, we have noticed a pick up in high-end properties priced above S$2,000 per square foot."
Although housing prices are expected to rise in 2010, Minister Mah said the government is monitoring the situation and will take necessary action. For instance, the Minister said that more land will be released to property developers if needed. He also promised that HDB will have more Build-To-Order projects intended particularly for first-time homebuyers.
But he said that calls for the government to intervene in housing prices is not a good solution.
"The whole question is, do we peg HDB flats to the market, or whether we follow another system. And that other system is what some countries use.”
"In other words, I sell you a flat at fixed price, when you sell the flat, you have to sell it back to me also at a fixed price. In other words, you are not allowed to profit from the flat. There you can keep flat prices fixed."
STI to breach 3,000 in H1 2010, say market watchers
STI to breach 3,000 in H1 2010, say market watchers
Dec 30, 2009 - PropertyGuru.com.sg
Singapore’s Straits Times Index (STI) managed to end the year higher by 60 percent, despite weak response in the first three months, with various sectors being lifted by stimulus measures and pent-up liquidity from market players waiting to enter the market.
Terence Wong, senior vice president and co-head of research at DMG & Partners Securities, said: "Another thing that stuck out obviously, was the big great run that we saw since the second week of March.”
"In fact the STI has gone up over 90 per cent since that period of time, and I believe that has been one of the most impressive runs in recent memory."
"One of the sectors that I like is hospitality. I think 2010 is the Year of Visit Singapore, and there are a lot of things that are happening, chief of which would be the opening of the IRs (integrated resorts).”
"I think with the improvement in the global and regional economies, there will be a return of the tourism dollar," he added.
Vice president of SIAS Research, Roger Tan, said: "We saw good news coming from the property sector, especially the mass market sector, and that encouraged the property sector to thrive a little bit.”
"Then we also saw the banks coming back, and the oil and gas sector, because of the expectation that in 2010 and 2011, we could see higher demand from oil."
Looking forward next year, experts said that there are rooms for industries to pull ahead, including hospitality and property counters, with exposures to several cities in China.
"The Chinese government has to continue with its urbanisation, has to continue encouraging the urbanisation rate,” Mr. Tan said. "So a lot more attention will be paid down to second- and third-tier city development, away from the first-tier cities which have already benefited from the last ten years of development."
Most market watchers expect the STI to breach 3,000 in the first half of 2010. However, a slower second half is also expected due to the uncertainty behind the economic recovery in the US.
Dec 30, 2009 - PropertyGuru.com.sg
Singapore’s Straits Times Index (STI) managed to end the year higher by 60 percent, despite weak response in the first three months, with various sectors being lifted by stimulus measures and pent-up liquidity from market players waiting to enter the market.
Terence Wong, senior vice president and co-head of research at DMG & Partners Securities, said: "Another thing that stuck out obviously, was the big great run that we saw since the second week of March.”
"In fact the STI has gone up over 90 per cent since that period of time, and I believe that has been one of the most impressive runs in recent memory."
"One of the sectors that I like is hospitality. I think 2010 is the Year of Visit Singapore, and there are a lot of things that are happening, chief of which would be the opening of the IRs (integrated resorts).”
"I think with the improvement in the global and regional economies, there will be a return of the tourism dollar," he added.
Vice president of SIAS Research, Roger Tan, said: "We saw good news coming from the property sector, especially the mass market sector, and that encouraged the property sector to thrive a little bit.”
"Then we also saw the banks coming back, and the oil and gas sector, because of the expectation that in 2010 and 2011, we could see higher demand from oil."
Looking forward next year, experts said that there are rooms for industries to pull ahead, including hospitality and property counters, with exposures to several cities in China.
"The Chinese government has to continue with its urbanisation, has to continue encouraging the urbanisation rate,” Mr. Tan said. "So a lot more attention will be paid down to second- and third-tier city development, away from the first-tier cities which have already benefited from the last ten years of development."
Most market watchers expect the STI to breach 3,000 in the first half of 2010. However, a slower second half is also expected due to the uncertainty behind the economic recovery in the US.
Luxury property in Phuket recorded THB 1.1 Billion sales
Luxury property in Phuket recorded THB 1.1 Billion sales
Dec 30, 2009 - PropertyGuru.com.sg
Phuket Luxury property market accounted for transactions worth THB 1.1 billion from July to November this year, according to a market research done by C9 Hotelworks. The resale sector made up the 50 percent of the total sales.
According to C9’s managing director, Bill Barnett, “this year has seen the absence of new high end product which has propelled the secondary segment, while off plan product remains sluggish.”
“The failure to launch new projects is a key constraining factor limiting volume in the marketplace. Despite demonstrated sales of a number of ‘super’ high end villas from THB 165 – 330 million, developers remain on the sideline more out of negative risk concern then fundamentals,” he added.
Market data shows that a rising numbers of early buyers in developments are now cashing out at significant profit levels, thus, driving up pricing point for several existing products. Geographically, ‘Millionaires Mile’ in Kamala experienced the highest level of activity.
Without the important new product entering the supply market, H2 2009 saw a growing volume of premium lots acquired by buyers who committed to develop their own luxury residences.
Bill Barnett noted, “Traditionally the period of December to April remains peak sales season, and feedback in the past few weeks has seen sales traction. Ultimately the market desperately requires new launches to stimulate broader interest if there is to be a return to stabilized trading.”
Dec 30, 2009 - PropertyGuru.com.sg
Phuket Luxury property market accounted for transactions worth THB 1.1 billion from July to November this year, according to a market research done by C9 Hotelworks. The resale sector made up the 50 percent of the total sales.
According to C9’s managing director, Bill Barnett, “this year has seen the absence of new high end product which has propelled the secondary segment, while off plan product remains sluggish.”
“The failure to launch new projects is a key constraining factor limiting volume in the marketplace. Despite demonstrated sales of a number of ‘super’ high end villas from THB 165 – 330 million, developers remain on the sideline more out of negative risk concern then fundamentals,” he added.
Market data shows that a rising numbers of early buyers in developments are now cashing out at significant profit levels, thus, driving up pricing point for several existing products. Geographically, ‘Millionaires Mile’ in Kamala experienced the highest level of activity.
Without the important new product entering the supply market, H2 2009 saw a growing volume of premium lots acquired by buyers who committed to develop their own luxury residences.
Bill Barnett noted, “Traditionally the period of December to April remains peak sales season, and feedback in the past few weeks has seen sales traction. Ultimately the market desperately requires new launches to stimulate broader interest if there is to be a return to stabilized trading.”
Yuexiu Property acquires land plot in China for $112 million
Yuexiu Property acquires land plot in China for $112 million
Dec 30, 2009 - PropertyGuru.com.sg
Singapore Developer Yuexiu Property said yesterday that one of its units purchased land plot in China worth 544 million yuan or about 112 million Singapore dollars.
It said that 95 percent of its owned subsidiary acquired the land plot located in Zhongshan City in Guangdong province, China through a public land auction last week.
The said land has a site area of about 167,000 square metres with a total permissible gross floor area of about 418,000 square metres.
The property firm said the land was approved for commercial and residential use. About 84 percent of the space will be used for residential property, while the remaining 16 percent of the permissible gross floor area account for commercial use.
Yuexiu said that the acquisition of the Zhongshan site signifies an important move toward the company’s strategy of improving its real estate business.
Dec 30, 2009 - PropertyGuru.com.sg
Singapore Developer Yuexiu Property said yesterday that one of its units purchased land plot in China worth 544 million yuan or about 112 million Singapore dollars.
It said that 95 percent of its owned subsidiary acquired the land plot located in Zhongshan City in Guangdong province, China through a public land auction last week.
The said land has a site area of about 167,000 square metres with a total permissible gross floor area of about 418,000 square metres.
The property firm said the land was approved for commercial and residential use. About 84 percent of the space will be used for residential property, while the remaining 16 percent of the permissible gross floor area account for commercial use.
Yuexiu said that the acquisition of the Zhongshan site signifies an important move toward the company’s strategy of improving its real estate business.
Asian markets ended mixed during holiday trade
Asian markets ended mixed during holiday trade
Dec 30, 2009
The stock market in Asia ended narrowly mixed in a dwindling holiday trade last Tuesday, after Wall Street posted subdued gains.
The dollar was fairly higher against the yen and euro. Australian shares led the region, its resource-heavy market powered by more solid prices for gold, oil and other commodities in recent days.
Across much of the region, trade was thin and sluggish, with many investors out for the holidays and reluctant to place bets toward the end of a year marked by remarkable gains in stocks worldwide.
The Nikkei 225 stock in Japan rose 0.1 percent or 6.97 points, to 10,641.20. Hang Seng in Hong Kong fell 0.1 percent or 12.99 points, to 21,467.23.
Kospi in South Korea dropped 1.3 percent to 1,663.47, and the Shanghai index in China lost 0.3 percent to 3,177.82.
Elsewhere, the key index in Australia rose 1.1 percent to 4,845.1. Sensex in India gained 0.2 percent and Singapore's market advanced 0.2 percent.
The Dow Jones industrial in the US rose 0.3 percent or 26.98 points, to 10,547.08 in Monday. The Dow transportation fell 0.6 percent or 24.37 points, to 4,163.49.
The Standard & Poor's 500 index added 0.1 percent or 1.3 points, to 1,127.78, and the Nasdaq composite index increased 0.2 percent or 5.39 points, to 2,291.08.
In Asia, oil prices hung below $79 per barrel, with benchmark crude for February delivery down by 11 cents to $78.66. The contract settled up 72 cents at $78.77 on Monday after soaring above $79, as the extended cold snap in the US spurred an end-of-year rally in energy futures.
Dec 30, 2009
The stock market in Asia ended narrowly mixed in a dwindling holiday trade last Tuesday, after Wall Street posted subdued gains.
The dollar was fairly higher against the yen and euro. Australian shares led the region, its resource-heavy market powered by more solid prices for gold, oil and other commodities in recent days.
Across much of the region, trade was thin and sluggish, with many investors out for the holidays and reluctant to place bets toward the end of a year marked by remarkable gains in stocks worldwide.
The Nikkei 225 stock in Japan rose 0.1 percent or 6.97 points, to 10,641.20. Hang Seng in Hong Kong fell 0.1 percent or 12.99 points, to 21,467.23.
Kospi in South Korea dropped 1.3 percent to 1,663.47, and the Shanghai index in China lost 0.3 percent to 3,177.82.
Elsewhere, the key index in Australia rose 1.1 percent to 4,845.1. Sensex in India gained 0.2 percent and Singapore's market advanced 0.2 percent.
The Dow Jones industrial in the US rose 0.3 percent or 26.98 points, to 10,547.08 in Monday. The Dow transportation fell 0.6 percent or 24.37 points, to 4,163.49.
The Standard & Poor's 500 index added 0.1 percent or 1.3 points, to 1,127.78, and the Nasdaq composite index increased 0.2 percent or 5.39 points, to 2,291.08.
In Asia, oil prices hung below $79 per barrel, with benchmark crude for February delivery down by 11 cents to $78.66. The contract settled up 72 cents at $78.77 on Monday after soaring above $79, as the extended cold snap in the US spurred an end-of-year rally in energy futures.
Subscribe to:
Posts (Atom)
Pre-development Land Investing
In business for over 30 years, success in providing real estate investment opportunities to clients around the world is a simple, yet effective separation of roles and responsibilites. The four pillars of strength guide the land from the research and acquisition, through to the exit, including the distribution of proceeds to our clients ......
To know more how this is really work for you and your clients....
Please contact me Terence Tay @ (+65) 9387-5896 or email : terencetay.kh@gmail.com
To know more how this is really work for you and your clients....
Please contact me Terence Tay @ (+65) 9387-5896 or email : terencetay.kh@gmail.com
Posts
