Aug 16, 2010
No quick fix for junk mail menace
Pasting fliers on common property attracts fine, but flats' door grilles are a grey area
By Jamie Ee Wen Wei
THEY are here, there, everywhere. It's the invasion of advertising fliers, and Housing Board residents are upset as it seems that very little can be done to put a stop to the problem.
They are irked because the culprits, unable to drop fliers in anti-junk-mail letter boxes, now slip the sheets between flats' door grilles.
The accumulated paper can slip onto the floor and create a mess. The fliers at the door also show that a flat is vacant or the family is away.
While the authorities can fine advertisers for sticking fliers on common property, slotting these sheets into the grilles is a grey area.
Eunos resident Nadia Abdul Muttalib wrote to The Straits Times two weeks ago. The manager in her 30s came home one night to find a pile of ash outside a neighbouring unit which had been vacant for some months. She suspected that pranksters had set fire to fliers left outside it.
Her corridor has also been strewn with fliers from estate agents and home maintenance firms, among others.
The litterbugs should be stopped, she said in her Aug3 letter, which prompted at least 11 others to write in.
Sengkang resident Mark Chan, 32, travels once every three months, and is worried that an accumulation of fliers outside flats could be a telltale sign that no one is home, making them a target for burglars.
Advertisers have resorted to such tactics as a result of anti-junk-mail locking devices installed on letter boxes in HDB estates. These mean fliers cannot be slotted in.
MPs interviewed acknowledge their residents' complaints, adding that there is no straightforward solution to the longstanding problem.
Aljunied GRC MP Cynthia Phua says the town council there has fined businesses for sticking advertisements on common property in the estate, but not for leaving fliers at the door.
'It's neither vandalism nor littering because they are left at the door grille,' said the Aljunied Town Council chairman, noting that the issue is a tricky one.
It is an offence to paste fliers on common property without prior written approval from the town council. The maximum penalty is $5,000.
Madam Halimah Yacob, a Jurong GRC MP, said the town council there receives an average of five complaints a month about unwanted fliers left at residents' doors.
Jurong Town Council has put up noticeboards at the lift lobbies of 10 residential blocks and commercial buildings in the town centre for advertisers to use for free. She said this solution has been quite effective, though not wholly so.
The town council also advises junk mailers to advertise in its newsletter.
Ms Lee Bee Wah, an MP for Ang Mo Kio GRC, flagged the issue of unwanted fliers in Parliament in May.
In its written reply, the Ministry of National Development said the town councils and HDB cannot stop businesses - estate agencies included - from distributing fliers to HDB households. It advised residents to refrain from responding to the fliers to discourage such marketing practices.
Mr Ben Ang, 29, who runs a printing and distribution firm, said his staff avoid units which carry 'No fliers' signs. 'If there is a notice outside the home to say no depositing of junk mail, we will respect the family,' he said.
Estate agent Albert Wong, 50, defended such door-to-door distribution, saying it is targeted, and it works. He is thinking of using telemarketing but feels fliers are 'less intrusive' because one can easily throw them away.
'Unless we go back to using the old letter box system, I have no choice but to distribute the fliers door to door,' he said.
jamieee@sph.com.sg
--------------------------------------------------------------------------------
DIFFICULT TO FINE
'It's neither vandalism nor littering because they are left at the door grille.'
Aljunied GRC MP Cynthia Phua, noting that the issue was a tricky one
Monday, August 16, 2010
BT : UK house asking prices fall in August
Business Times - 16 Aug 2010
UK house asking prices fall in August
LONDON - Asking prices for homes in England and Wales fell by 1.7 per cent in August after an oversupply of property coincided with a seasonal dip in demand, property website Rightmove said on Monday.
Prices fell by their biggest margin since a 2.2 per cent decline recorded in December, another period when the holiday season depresses prices.
Rightmove said average stock per agent rose for a sixth consecutive month during the latest survey period and the number of properties added to its website jumped 41 per cent from a year earlier.
'No one really wants to come to market in August unless they have to. It shows these new sellers have a compelling need to sell,' Rightmove commercial director Miles Shipside said in a statement.
The latest month-on-month price fall comes after a 0.6 per cent decline in July, the first dip this year. The Royal Institution of Chartered Surveyors and mortgage lender Nationwide both reported seasonally adjusted falls in selling prices last month.
Rightmove said asking prices were 4.3 per cent higher than a year ago, above July's 3.7 per cent annual growth rate but below the 5.0 per cent seen in June.
The West Midlands saw the biggest monthly price fall, down 4.4 per cent, closely followed by London with a 4.1 per cent drop.
'The number of sellers coming to market in the capital is the highest seen in the month of August since 2007,' Shipside said.
'New seller levels seem to be getting back to a degree of pre-credit-crunch normality, but mortgage levels have a lender-imposed ceiling. Its restricted height is giving the market a long-term headache as pent-up buyer demand continues to bang up against it.'
Rightmove said it based its data on a survey of 116,879 asking prices on its website between July 11 and Aug 7, which it says covers 90 per cent of property marketed via estate agents in England and Wales. -- REUTERS
Copyright © 2010 Singapore Press Holdings Ltd. All rights reserved.
UK house asking prices fall in August
LONDON - Asking prices for homes in England and Wales fell by 1.7 per cent in August after an oversupply of property coincided with a seasonal dip in demand, property website Rightmove said on Monday.
Prices fell by their biggest margin since a 2.2 per cent decline recorded in December, another period when the holiday season depresses prices.
Rightmove said average stock per agent rose for a sixth consecutive month during the latest survey period and the number of properties added to its website jumped 41 per cent from a year earlier.
'No one really wants to come to market in August unless they have to. It shows these new sellers have a compelling need to sell,' Rightmove commercial director Miles Shipside said in a statement.
The latest month-on-month price fall comes after a 0.6 per cent decline in July, the first dip this year. The Royal Institution of Chartered Surveyors and mortgage lender Nationwide both reported seasonally adjusted falls in selling prices last month.
Rightmove said asking prices were 4.3 per cent higher than a year ago, above July's 3.7 per cent annual growth rate but below the 5.0 per cent seen in June.
The West Midlands saw the biggest monthly price fall, down 4.4 per cent, closely followed by London with a 4.1 per cent drop.
'The number of sellers coming to market in the capital is the highest seen in the month of August since 2007,' Shipside said.
'New seller levels seem to be getting back to a degree of pre-credit-crunch normality, but mortgage levels have a lender-imposed ceiling. Its restricted height is giving the market a long-term headache as pent-up buyer demand continues to bang up against it.'
Rightmove said it based its data on a survey of 116,879 asking prices on its website between July 11 and Aug 7, which it says covers 90 per cent of property marketed via estate agents in England and Wales. -- REUTERS
Copyright © 2010 Singapore Press Holdings Ltd. All rights reserved.
BT : Braving the uncertain China property market
Business Times - 16 Aug 2010
NEWS ANALYSIS
Braving the uncertain China property market
Developers are still looking to expand there but analysts are advising caution
By UMA SHANKARI
(SINGAPORE) It is getting increasing difficult to get a sense of the state of China's residential property market.
Developers listed on the Singapore Exchange - both household Singaporean names and their China-based counterparts - continue to be bullish.
But analysts advise caution. There is also some speculation that another round of government tightening measures could be on the horizon as home prices in China continue to hold firm.
But for now, developers are still looking to expand in China. Last Thursday, City Developments said it has set up a new unit with some $300 million on hand to build up its presence in China.
Its fully-owned subsidiary, CDL China Limited, will target all segments of China's property market - the high-end, mid-tier and mass market residential markets as well as the commercial and hospitality sectors. So far, 12 first-tier and second-tier cities in China have been earmarked for investment.
'Going down the road, there is always a fear that the bubble in China will burst. I don't believe that it will burst that much,' said CityDev executive chairman Kwek Leng Beng during the company's Q2 results briefing.
His move comes after one of Singapore's biggest China proponents, CapitaLand, reiterated that it will continue to grow in China. The developer plans to set up a new business unit to build 'affordable' homes in China and Vietnam.
Developers are also going ahead with planned launches. CapitaLand said during its Q2 results briefing that launches were on track and selling prices will be maintained. The group's target, which is to launch 3,000 units on average a year, remains intact.
China-based Yanlord Land Group has also said it is looking to launch new projects and new phases of its existing projects in the second half of 2010.
But on the ground, many are watchful, and wary. Citigroup reported earlier this month that speculation on a new wave of tightening measures led to a 'mini sell-off'.
Caution returned to China's property sector early this month due to recent speculation that the government may introduce a new wave of tightening, the bank said. Talk was that the authorities will target development schedules, crack down on land hoarding and further tighten mortgage loans for third-unit purchase, Citigroup analysts wrote in an Aug 6 note.
In addition, it has been reported by the local press that China banks have been asked to stress-test for a 60 per cent home-price fall. All the news resulted in a small sell-off in the China property sector in early August - even though most of the news had not yet been made official.
The Citigroup analysts' view is that new tightening measures are unlikely. Instead, China's central government will focus on the implementation of existing tightening measures in H2, they believe.
The trepidation on the ground is caused by the fact that the home prices are not falling by much yet.
Property prices in China rose at a slower pace in July from the previous month as efforts to curb speculative investment in the real estate sector started to take effect. Home prices in 70 major cities rose 10.3 per cent year-on-year in July, the National Bureau of Statistics said last Tuesday, down from 11.4 per cent in June.
The figure marked the third straight month of slowing year-on-year growth in prices after Beijing announced a slew of measures from January to April 2010 to prevent the real estate sector from overheating.
But prices are not easing much on a month-on-month basis. Despite all the measures, property prices only eased 0.1 per cent month-on-month in June 10 - marking the first time that prices fell since February 2009. And prices in July were unchanged from June, according to the statistics bureau.
But despite the riskier operating environment (as compared to Singapore), developers are heading in because 'there is no denying that China will one day become the largest economy in the world', as Mr Kwek put it.
For CapitaLand, its China residential properties continued to provide support to its financials for H1 and Q2 2010. The developer sold over 1,100 units in the first six months of the year.
But DMG & Partners Research analyst Brandon Lee pointed out that CapitaLand's sales volume in China fell to 382 units in Q2 2010 (from 801 units in Q1).
'For H2 2010, we expect this trend to persist, suggesting subdued take-up for upcoming launches in Hangzhou, Kunshan and Shanghai,' Mr Lee said.
A key project to watch out for next is CapitaLand's luxury Paragon development at Shanghai Luwan. The company said during its recent Q2 results briefing that pre-launch interest in the project is extremely strong. It hopes to launch 116 units in Q1 2011.
'While management is optimistic on the eventual pricing, citing the 100,000-150,000 yuan (S$20,061-S$30,092) per square metres achieved for comparable projects, we remain mindful of lingering policy risks in the region,' wrote CIMB analyst Donald Chua about the project in an August 5 note.
Leading and 'brand-name' developers are still seeing decent sales in China in Q2 and Q3 on the back of better product quality and more flexible pricing strategies. Their profitability is likely to be respectable even if they cut prices going forward.
But to play it safe, some analysts are now advising investors to focus their attention on commercial properties and players instead.
Copyright © 2010 Singapore Press Holdings Ltd. All rights reserved.
What lies ahead? There is some speculation that another round of govt tightening measures could be on the horizon as home prices in China continue to hold firm
NEWS ANALYSIS
Braving the uncertain China property market
Developers are still looking to expand there but analysts are advising caution
By UMA SHANKARI
(SINGAPORE) It is getting increasing difficult to get a sense of the state of China's residential property market.
Developers listed on the Singapore Exchange - both household Singaporean names and their China-based counterparts - continue to be bullish.
But analysts advise caution. There is also some speculation that another round of government tightening measures could be on the horizon as home prices in China continue to hold firm.
But for now, developers are still looking to expand in China. Last Thursday, City Developments said it has set up a new unit with some $300 million on hand to build up its presence in China.
Its fully-owned subsidiary, CDL China Limited, will target all segments of China's property market - the high-end, mid-tier and mass market residential markets as well as the commercial and hospitality sectors. So far, 12 first-tier and second-tier cities in China have been earmarked for investment.
'Going down the road, there is always a fear that the bubble in China will burst. I don't believe that it will burst that much,' said CityDev executive chairman Kwek Leng Beng during the company's Q2 results briefing.
His move comes after one of Singapore's biggest China proponents, CapitaLand, reiterated that it will continue to grow in China. The developer plans to set up a new business unit to build 'affordable' homes in China and Vietnam.
Developers are also going ahead with planned launches. CapitaLand said during its Q2 results briefing that launches were on track and selling prices will be maintained. The group's target, which is to launch 3,000 units on average a year, remains intact.
China-based Yanlord Land Group has also said it is looking to launch new projects and new phases of its existing projects in the second half of 2010.
But on the ground, many are watchful, and wary. Citigroup reported earlier this month that speculation on a new wave of tightening measures led to a 'mini sell-off'.
Caution returned to China's property sector early this month due to recent speculation that the government may introduce a new wave of tightening, the bank said. Talk was that the authorities will target development schedules, crack down on land hoarding and further tighten mortgage loans for third-unit purchase, Citigroup analysts wrote in an Aug 6 note.
In addition, it has been reported by the local press that China banks have been asked to stress-test for a 60 per cent home-price fall. All the news resulted in a small sell-off in the China property sector in early August - even though most of the news had not yet been made official.
The Citigroup analysts' view is that new tightening measures are unlikely. Instead, China's central government will focus on the implementation of existing tightening measures in H2, they believe.
The trepidation on the ground is caused by the fact that the home prices are not falling by much yet.
Property prices in China rose at a slower pace in July from the previous month as efforts to curb speculative investment in the real estate sector started to take effect. Home prices in 70 major cities rose 10.3 per cent year-on-year in July, the National Bureau of Statistics said last Tuesday, down from 11.4 per cent in June.
The figure marked the third straight month of slowing year-on-year growth in prices after Beijing announced a slew of measures from January to April 2010 to prevent the real estate sector from overheating.
But prices are not easing much on a month-on-month basis. Despite all the measures, property prices only eased 0.1 per cent month-on-month in June 10 - marking the first time that prices fell since February 2009. And prices in July were unchanged from June, according to the statistics bureau.
But despite the riskier operating environment (as compared to Singapore), developers are heading in because 'there is no denying that China will one day become the largest economy in the world', as Mr Kwek put it.
For CapitaLand, its China residential properties continued to provide support to its financials for H1 and Q2 2010. The developer sold over 1,100 units in the first six months of the year.
But DMG & Partners Research analyst Brandon Lee pointed out that CapitaLand's sales volume in China fell to 382 units in Q2 2010 (from 801 units in Q1).
'For H2 2010, we expect this trend to persist, suggesting subdued take-up for upcoming launches in Hangzhou, Kunshan and Shanghai,' Mr Lee said.
A key project to watch out for next is CapitaLand's luxury Paragon development at Shanghai Luwan. The company said during its recent Q2 results briefing that pre-launch interest in the project is extremely strong. It hopes to launch 116 units in Q1 2011.
'While management is optimistic on the eventual pricing, citing the 100,000-150,000 yuan (S$20,061-S$30,092) per square metres achieved for comparable projects, we remain mindful of lingering policy risks in the region,' wrote CIMB analyst Donald Chua about the project in an August 5 note.
Leading and 'brand-name' developers are still seeing decent sales in China in Q2 and Q3 on the back of better product quality and more flexible pricing strategies. Their profitability is likely to be respectable even if they cut prices going forward.
But to play it safe, some analysts are now advising investors to focus their attention on commercial properties and players instead.
Copyright © 2010 Singapore Press Holdings Ltd. All rights reserved.
What lies ahead? There is some speculation that another round of govt tightening measures could be on the horizon as home prices in China continue to hold firm
BT : Rebranding KL will take much work
Business Times - 16 Aug 2010
MALAYSIA INSIGHT
Rebranding KL will take much work
Traffic congestions, unrestrained building hampering efforts
By PAULINE NG
KL CORRESPONDENT
THERE are growing calls to rebrand Kuala Lumpur. The Malaysian capital is looking dull and jaded, provincial in contrast to bustling and 'happening' Hong Kong, Bangkok and Singapore. Even Jakarta is attracting admirers, its new vibrancy so palpable it is infectious, say Indonesia watchers.
Malaysia wants to rebrand the city under the Greater KL initiative - one of a handful identified under a federal government programme to focus on potential key drivers of the economy.
Part of the exercise is to ensure that Kuala Lumpur moves up the livable city rankings, so that it will attract multinational companies and skilled labour to invest and set up shop.
Improving the quality of life - more parks, affordable housing, better basic services and public transport - is also part of the equation.
One current focus appears to be unlocking choice government landbank in and around the city centre by transforming them into attractive mixed development projects that can lure tier-one investors, which would bring its own knock-on effect.
A choice plot is the mega 400 acre site on which the Royal Malaysian Airforce base is currently located. Given its location at the fringe of the city, it has enormous potential to be a landmark development. Many people would like a good proportion of the area to be left as open areas or converted into public parks given the lack of such amenities in the city.
One major concern relating to the unlocking of state lands is the potential for a huge oversupply given the private sector's own plans to add 14 million to15 million square feet of office space over the next four years.
Given the average annual take-up rate of two million square feet - at best 2.5 million - many property players believe the concerns ought not to be dismissed.
Foreign investors have been slow on the uptake, and should the hoped-for entry of these investors not match the additional supply, yields could be seriously depressed.
Malaysia's investment policies also need to be sufficiently competitive to attract investments in services it desires in areas such as oil and gas, banking and finance, tourism, education and IT. Indeed, the property sector is banking - perhaps overly - on new investments and the demand for office space to meet the additional supply.
That aside, adding millions of square feet without the corresponding infrastructure will only worsen the congestion nightmare that is often KL. International property buyers are reportedly put off by the thought that the city sees an annual rise of 70,000 vehicles.
In the interim Malaysia is contemplating a mass transport system (MRT) at a cost of about RM40 billion (S$17.2 billion) as better public transport is desperately needed since only 12-13 per cent of the people use public transport in the city. The situation in other cities is as dire, owing to the government's prioritization of the national car project.
But even if approved by next year, the MRT system is expected to take at least 10 years to complete.
Because the state has been slow to step up the pace of infrastructure development while not restraining private developers from erecting new buildings, efforts to transform KL into a place to work and live have gained little traction.
Many people avoid going into the city if they can help it. Which is a pity because KL has a lot to offer - it is colourful, has a fantastic range of food and cultures, a decent nightlife, historical landmarks as well as modern ones, and some great shopping.
The challenge is to make it all easily accessible and a pleasurable experience.
Copyright © 2010 Singapore Press Holdings Ltd. All rights reserved.
MALAYSIA INSIGHT
Rebranding KL will take much work
Traffic congestions, unrestrained building hampering efforts
By PAULINE NG
KL CORRESPONDENT
THERE are growing calls to rebrand Kuala Lumpur. The Malaysian capital is looking dull and jaded, provincial in contrast to bustling and 'happening' Hong Kong, Bangkok and Singapore. Even Jakarta is attracting admirers, its new vibrancy so palpable it is infectious, say Indonesia watchers.
Malaysia wants to rebrand the city under the Greater KL initiative - one of a handful identified under a federal government programme to focus on potential key drivers of the economy.
Part of the exercise is to ensure that Kuala Lumpur moves up the livable city rankings, so that it will attract multinational companies and skilled labour to invest and set up shop.
Improving the quality of life - more parks, affordable housing, better basic services and public transport - is also part of the equation.
One current focus appears to be unlocking choice government landbank in and around the city centre by transforming them into attractive mixed development projects that can lure tier-one investors, which would bring its own knock-on effect.
A choice plot is the mega 400 acre site on which the Royal Malaysian Airforce base is currently located. Given its location at the fringe of the city, it has enormous potential to be a landmark development. Many people would like a good proportion of the area to be left as open areas or converted into public parks given the lack of such amenities in the city.
One major concern relating to the unlocking of state lands is the potential for a huge oversupply given the private sector's own plans to add 14 million to15 million square feet of office space over the next four years.
Given the average annual take-up rate of two million square feet - at best 2.5 million - many property players believe the concerns ought not to be dismissed.
Foreign investors have been slow on the uptake, and should the hoped-for entry of these investors not match the additional supply, yields could be seriously depressed.
Malaysia's investment policies also need to be sufficiently competitive to attract investments in services it desires in areas such as oil and gas, banking and finance, tourism, education and IT. Indeed, the property sector is banking - perhaps overly - on new investments and the demand for office space to meet the additional supply.
That aside, adding millions of square feet without the corresponding infrastructure will only worsen the congestion nightmare that is often KL. International property buyers are reportedly put off by the thought that the city sees an annual rise of 70,000 vehicles.
In the interim Malaysia is contemplating a mass transport system (MRT) at a cost of about RM40 billion (S$17.2 billion) as better public transport is desperately needed since only 12-13 per cent of the people use public transport in the city. The situation in other cities is as dire, owing to the government's prioritization of the national car project.
But even if approved by next year, the MRT system is expected to take at least 10 years to complete.
Because the state has been slow to step up the pace of infrastructure development while not restraining private developers from erecting new buildings, efforts to transform KL into a place to work and live have gained little traction.
Many people avoid going into the city if they can help it. Which is a pity because KL has a lot to offer - it is colourful, has a fantastic range of food and cultures, a decent nightlife, historical landmarks as well as modern ones, and some great shopping.
The challenge is to make it all easily accessible and a pleasurable experience.
Copyright © 2010 Singapore Press Holdings Ltd. All rights reserved.
Subscribe to:
Posts (Atom)
Posts
