800,000 HDB households to receive $106m utility rebates
Jan 4, 2010 - PropertyGuru.com.sg
Around 800,000 HDB households will receive utilities U-Save rebates worth $106 million in 2010. The $60 million initial payout will be made in January, with the next payout expected in July.
Based on the schedule that the Ministry of Finance (MOF) released yesterday, households with one and two rooms will receive rebates amounting to $200 this year. Executive flats will receive $55; $160 for three-room flats; $150 for four-room flats; and $90 for five-room flats.
The U-Save rebates are aimed only at flats owned by Singaporeans. However, over the last few years, there has been a rise in Singapore-owned HDB flats being completely sublet, even involving non-citizen tenants.
The scheme has been revised from January this year onwards, with HDB flats fully sublet to non-citizens being ineligible for rebates.
HDB flats owned by Singaporeans, which are owner-occupied or sublet to at least one citizen tenant, will continue to receive rebates.
“U-Save rebates are used to offset utility charges directly. The amount of rebates in the forthcoming payout will be reflected in the utility bills for January 2010 of all eligible households,” said the MOF.
Intended to help Singaporeans cope with earlier two-percentage point increases in goods and services tax (GST), these rebates are part of the GST Offset Package in Budget 2007. The government will have to spend for the scheme around $620 million for a period of five years from 2007 to 2011.
Showing posts with label Property Guru. Show all posts
Showing posts with label Property Guru. Show all posts
Tuesday, January 5, 2010
2009 was an easy year for investors; and now comes 2010
2009 was an easy year for investors; and now comes 2010
Jan 4, 2010 - PropertyGuru.com.sg
Investing in 2009 was very easy for some people – just invest in oversold riskier assets and wait for them to rise. However, 2010 could be a difficult time, requiring selection and market timing to get the best results.
Many investors felt that the financial system would not collapse into a new Great Depression era, and as a result, many riskier assets like high-yielding bonds and stocks were sold off.
The gain last year came mostly from across-the-board buying, about 30 percent from world stocks year-to-date.
The more sold-off an asset had accounted, the higher it increased as investors almost indiscriminately charged out in what, by then, become virtually zero-yielding cash funds in favour of any yield they could find.
It was triggered by the authorities saying they would not let another major bank go under.
Entering 2010, however, a lot have changed. Large price increments are eaten up by what were seen as historic opportunities and central banks are preparing to improve the liquidity. Some 2009 correlations are now falling apart, leaving investors to work harder.
"2010 is going to be a year of discrimination with a very long bias towards quality," said Bob Parker, vice-chairman of the asset management arm for Credit Suisse.
The need of selective thinking also comes from the global economy, which is both fragile and uneven. Investors become more cautious about investment backdrop and as a result, caution intensified by debt problem in Greece, Spain and Dubai.
"Cyclical tailwinds and structural headwinds" is how William De Vijlder, the global chief investment officer of Fortis Investments, described the current investment situation.
While emerging markets remain the favourite options for many investors this year, the focus is mainly on fiscally good countries in Asia like China, rather than on Eastern Europe.
"(There will be) more differentiation rather than just buying an asset class or region," said Wayne Bowers, chief executive officer for Northern Trust Global Investments' international division.
Jan 4, 2010 - PropertyGuru.com.sg
Investing in 2009 was very easy for some people – just invest in oversold riskier assets and wait for them to rise. However, 2010 could be a difficult time, requiring selection and market timing to get the best results.
Many investors felt that the financial system would not collapse into a new Great Depression era, and as a result, many riskier assets like high-yielding bonds and stocks were sold off.
The gain last year came mostly from across-the-board buying, about 30 percent from world stocks year-to-date.
The more sold-off an asset had accounted, the higher it increased as investors almost indiscriminately charged out in what, by then, become virtually zero-yielding cash funds in favour of any yield they could find.
It was triggered by the authorities saying they would not let another major bank go under.
Entering 2010, however, a lot have changed. Large price increments are eaten up by what were seen as historic opportunities and central banks are preparing to improve the liquidity. Some 2009 correlations are now falling apart, leaving investors to work harder.
"2010 is going to be a year of discrimination with a very long bias towards quality," said Bob Parker, vice-chairman of the asset management arm for Credit Suisse.
The need of selective thinking also comes from the global economy, which is both fragile and uneven. Investors become more cautious about investment backdrop and as a result, caution intensified by debt problem in Greece, Spain and Dubai.
"Cyclical tailwinds and structural headwinds" is how William De Vijlder, the global chief investment officer of Fortis Investments, described the current investment situation.
While emerging markets remain the favourite options for many investors this year, the focus is mainly on fiscally good countries in Asia like China, rather than on Eastern Europe.
"(There will be) more differentiation rather than just buying an asset class or region," said Wayne Bowers, chief executive officer for Northern Trust Global Investments' international division.
Main market themes for 2010
Main market themes for 2010
Jan 4, 2010 - PropertyGuru.com.sg
It is interesting to ponder what the main market themes for 2010 may be, as the second-liners and window-dressing of blue chips had been completed for 2009.
Property brokers have been busy over the past month with their market outlook reports, which all leans towards the positive. However, what is shocking is that most brokers only have modest upside targets, suggesting caution has gradually crept into the market.
UBS Investment Research was one of the first with a Dec 2, 2009 report that said domestic sectors’ earnings revisions must support an upbeat market in 2010, mainly in the first half. However, volatility could increase later due to potential US interest rate hikes.
Below is the list of market outlooks that are stated in the report:
The job market could strongly bounce back in the first half of 2010. Ongoing hiring intentions have increased sharply, particularly in banking and finance.
The upward domestic demand, followed by a structural revival in tourism, must portend well for domestic services stocks.
The government is expected to stay vigilant on a possible asset bubble forming in residential property, without let-up in negative policy risk.
Volatility in the market typically increases sharply at various points in Fed funds policy.
The end-2010 target of UBS for the Straits Times Index is 3,200, which translates to a 16.5 forward price-earnings ratio, -17.5 percent earnings per share growth in 2009, and +27 percent in 2010.
The end-2010 STI target of Credit Suisse is not far away from that of UBS at 3,180. Based on the Dec 1, 2009 report, there are three themes to consider: the launching of the two casinos, which are expected to boost tourism; consensus earnings upgrades; and cash-rich firms returning money to shareholders through special dividends.
“Rolling forward to a projected 2011 return on equity of 12 per cent and maintaining a five-year average price/book of 1.88x, we arrive at our new 2010 MSCI Index target of 388 for Singapore,” Credit Suisse said, adding that this works out to an STI of 3,180. It said it is underweight on capital goods and telecoms, but overweight on banks, transport and property.
Based on the economics-markets strategy of DBS for 2010, the local economy will grow at a more restrained pace. It said that there are cooling signs, as the economy shifts to a flatter growth trajectory, now expecting the taking over of the services sector as major growth pillar. DBS also stressed its preference for the Singapore market.
In the Dec 16, 2009 global equity strategy, Morgan Stanley said that it still likes equities, but expects increasing risks. “We think 2010 will start strong but that markets will have overshot fair value,” it said. “We expect only single-digit returns for global equities for the full year but the risks are slanted to a worse outcome.”
Jan 4, 2010 - PropertyGuru.com.sg
It is interesting to ponder what the main market themes for 2010 may be, as the second-liners and window-dressing of blue chips had been completed for 2009.
Property brokers have been busy over the past month with their market outlook reports, which all leans towards the positive. However, what is shocking is that most brokers only have modest upside targets, suggesting caution has gradually crept into the market.
UBS Investment Research was one of the first with a Dec 2, 2009 report that said domestic sectors’ earnings revisions must support an upbeat market in 2010, mainly in the first half. However, volatility could increase later due to potential US interest rate hikes.
Below is the list of market outlooks that are stated in the report:
The job market could strongly bounce back in the first half of 2010. Ongoing hiring intentions have increased sharply, particularly in banking and finance.
The upward domestic demand, followed by a structural revival in tourism, must portend well for domestic services stocks.
The government is expected to stay vigilant on a possible asset bubble forming in residential property, without let-up in negative policy risk.
Volatility in the market typically increases sharply at various points in Fed funds policy.
The end-2010 target of UBS for the Straits Times Index is 3,200, which translates to a 16.5 forward price-earnings ratio, -17.5 percent earnings per share growth in 2009, and +27 percent in 2010.
The end-2010 STI target of Credit Suisse is not far away from that of UBS at 3,180. Based on the Dec 1, 2009 report, there are three themes to consider: the launching of the two casinos, which are expected to boost tourism; consensus earnings upgrades; and cash-rich firms returning money to shareholders through special dividends.
“Rolling forward to a projected 2011 return on equity of 12 per cent and maintaining a five-year average price/book of 1.88x, we arrive at our new 2010 MSCI Index target of 388 for Singapore,” Credit Suisse said, adding that this works out to an STI of 3,180. It said it is underweight on capital goods and telecoms, but overweight on banks, transport and property.
Based on the economics-markets strategy of DBS for 2010, the local economy will grow at a more restrained pace. It said that there are cooling signs, as the economy shifts to a flatter growth trajectory, now expecting the taking over of the services sector as major growth pillar. DBS also stressed its preference for the Singapore market.
In the Dec 16, 2009 global equity strategy, Morgan Stanley said that it still likes equities, but expects increasing risks. “We think 2010 will start strong but that markets will have overshot fair value,” it said. “We expect only single-digit returns for global equities for the full year but the risks are slanted to a worse outcome.”
Construction on Menara YNH to begin in six months
Construction on Menara YNH to begin in six months
Jan 4, 2010 - PropertyGuru.com.sg
YNH Property Bhd is expecting to start work of its proposed Menara YNH project in the next six months.
Although Kuwait Finance House Bhd (KFH) cancelled the plan to purchase one of the two office blocks at Menara YNH two weeks ago, YNH said it would still carry on with the development of the project.
Early last year, KFH offered to acquire a 50 percent interest of the office blocks of Menara YNH from YNH Land Sdn Bhd, which is a wholly-owned subsidiary of YNH Property.
Daniel Chan, head of corporate strategy for YNH, said it was currently making some adjustments to the project design to improve the tenant space by 10 to 15 percent.
The project, which is according to the specifications of the Green Building Index, will have a total net space of 1.5 million square feet.
“We will be resubmitting the amended project plan for approval. The development order was obtained last December,” said Mr. Chan.
He said the project was among YNH’s target and expected to be completed within five years.
It will have two 45-storey office blocks; each will have a net space of 600,000 square feet to be constructed at the top of a three-storey retail podium. Additionally, its gross development value (GDV) is expected to be around RM 2 billion, or RM 1,500 psf.
Mr. Chan said the construction of the retail podium will be prioritised and it is expected to be completed in three years.
Several foreign and local investors signed early last year the RM300 million sale and purchase agreement for the 300,000 sq ft retail space.
On whether the YNH is looking for another buyer for the other parts of the project, Mr. Chan said: “We are not in any hurry to sell unless a good offer turns up. So far, we are talking to a few interested parties. With the strategic location of the property, we are confident of good interest and sealing a good deal.”
He added that the company is keeping its option open and that several parties offered a joint-venture partnership for the project or purchase over the property.
“We are optimistic of the project as its value has appreciated. When the project was first mulled three to four years ago, its GDV was only RM1bil but, today, its value has doubled.”
Jan 4, 2010 - PropertyGuru.com.sg
YNH Property Bhd is expecting to start work of its proposed Menara YNH project in the next six months.
Although Kuwait Finance House Bhd (KFH) cancelled the plan to purchase one of the two office blocks at Menara YNH two weeks ago, YNH said it would still carry on with the development of the project.
Early last year, KFH offered to acquire a 50 percent interest of the office blocks of Menara YNH from YNH Land Sdn Bhd, which is a wholly-owned subsidiary of YNH Property.
Daniel Chan, head of corporate strategy for YNH, said it was currently making some adjustments to the project design to improve the tenant space by 10 to 15 percent.
The project, which is according to the specifications of the Green Building Index, will have a total net space of 1.5 million square feet.
“We will be resubmitting the amended project plan for approval. The development order was obtained last December,” said Mr. Chan.
He said the project was among YNH’s target and expected to be completed within five years.
It will have two 45-storey office blocks; each will have a net space of 600,000 square feet to be constructed at the top of a three-storey retail podium. Additionally, its gross development value (GDV) is expected to be around RM 2 billion, or RM 1,500 psf.
Mr. Chan said the construction of the retail podium will be prioritised and it is expected to be completed in three years.
Several foreign and local investors signed early last year the RM300 million sale and purchase agreement for the 300,000 sq ft retail space.
On whether the YNH is looking for another buyer for the other parts of the project, Mr. Chan said: “We are not in any hurry to sell unless a good offer turns up. So far, we are talking to a few interested parties. With the strategic location of the property, we are confident of good interest and sealing a good deal.”
He added that the company is keeping its option open and that several parties offered a joint-venture partnership for the project or purchase over the property.
“We are optimistic of the project as its value has appreciated. When the project was first mulled three to four years ago, its GDV was only RM1bil but, today, its value has doubled.”
Property speculators now target the APAC region
Property speculators now target the APAC region
Jan 4, 2010 - PropertyGuru.com.sg
The meltdown of US property prices did not affect the enthusiasm of many home buyers in other countries, especially in Asia.
Home prices in most parts of Asia-Pacific continue to surge. But solid demand for apartments, houses and villas, coupled with a stimulus package and low interest rates, fuelled the major price increase in late 2008 and early 2009.
Singapore home prices soared 15.75 percent in Q3 2008, prompting the government to denounce property speculation and warn about a market bubble forming.
In Australia, home prices have solidified and started to rise again, despite being described by others as “unaffordable prices”. On the other side of the country, home buyers in Perth are also facing price increases as the state and city enjoys a buoyant economy due to a resources boom happening in the northwest of the state.
In China, particularly in Shanghai and Beijing, increasing demand pushed the prices to a high level, with many people now calling the property boom a "bubble". The Chinese government already implemented measures to limit price increases and is considering further measures.
Chinese Premier Wen Jiabao last week told Xinhua news agency, “property prices have risen too quickly,” and pledged to control any speculations.
Jan 4, 2010 - PropertyGuru.com.sg
The meltdown of US property prices did not affect the enthusiasm of many home buyers in other countries, especially in Asia.
Home prices in most parts of Asia-Pacific continue to surge. But solid demand for apartments, houses and villas, coupled with a stimulus package and low interest rates, fuelled the major price increase in late 2008 and early 2009.
Singapore home prices soared 15.75 percent in Q3 2008, prompting the government to denounce property speculation and warn about a market bubble forming.
In Australia, home prices have solidified and started to rise again, despite being described by others as “unaffordable prices”. On the other side of the country, home buyers in Perth are also facing price increases as the state and city enjoys a buoyant economy due to a resources boom happening in the northwest of the state.
In China, particularly in Shanghai and Beijing, increasing demand pushed the prices to a high level, with many people now calling the property boom a "bubble". The Chinese government already implemented measures to limit price increases and is considering further measures.
Chinese Premier Wen Jiabao last week told Xinhua news agency, “property prices have risen too quickly,” and pledged to control any speculations.
Singapore residential market expected to recover this year
Singapore residential market expected to recover this year
Jan 4, 2010 - PropertyGuru.com.sg
2010 will see a recovery of the residential market in Singapore, said Chief Executive Lim Ee Seng of Frasers Centrepoint.
“We expected 2009 to be a very bad year for us but it turned out to be a good year,” said Managing Director Lim Yew Soon of EL Development.
Dr. Chua Yang Liang, Jones Lang LaSalle's head of South-east Asia research, agreed: “It's been a remarkable year - with transaction and pricing outperforming expectations, driven by latent demand, low interest rates and primed by lower pricing.”
Prices and sales of new private homes picked up significantly from April. It was a turnaround from Q1, when sellers were cutting prices just to offload their homes.
At the start of the year, as the private homes market swung hastily from hopelessness to 'unwarranted enthusiasm' by mid-2009, this year turned out to be a 'record-breaking' one, said Chua Chor Hoon, DTZ head of research for South-east Asia.
Record monthly and quarterly highs were achieved from sales and launches of new private homes, while some new launches outside the city area sold at record prices, Ms. Chua said.
Landed home resale located in prime districts also reach record prices, while home prices in resale mass market rebounded within two quarters to hit the 2007 peak levels, added Ms. Chua.
Jan 4, 2010 - PropertyGuru.com.sg
2010 will see a recovery of the residential market in Singapore, said Chief Executive Lim Ee Seng of Frasers Centrepoint.
“We expected 2009 to be a very bad year for us but it turned out to be a good year,” said Managing Director Lim Yew Soon of EL Development.
Dr. Chua Yang Liang, Jones Lang LaSalle's head of South-east Asia research, agreed: “It's been a remarkable year - with transaction and pricing outperforming expectations, driven by latent demand, low interest rates and primed by lower pricing.”
Prices and sales of new private homes picked up significantly from April. It was a turnaround from Q1, when sellers were cutting prices just to offload their homes.
At the start of the year, as the private homes market swung hastily from hopelessness to 'unwarranted enthusiasm' by mid-2009, this year turned out to be a 'record-breaking' one, said Chua Chor Hoon, DTZ head of research for South-east Asia.
Record monthly and quarterly highs were achieved from sales and launches of new private homes, while some new launches outside the city area sold at record prices, Ms. Chua said.
Landed home resale located in prime districts also reach record prices, while home prices in resale mass market rebounded within two quarters to hit the 2007 peak levels, added Ms. Chua.
Strong demand for The Shore Residences
Strong demand for The Shore Residences
Dec 31, 2009
Property developer Far East Organization said its newest project, The Shore Residences, saw strong demand since the start of its preview two weeks ago.
The 408-unit The Shore Residences is located in the Katong area.
The property developer said more than 70 units were sold and interested buyers have also registered for the units, which will have its official launch on January 21 next year.
Among the units, the one- and two-room units were the most popular.
Far East said that almost all of the 84 one-room units, with a price of $658,000 each, were sold out.
The two-room units, which make up the majority of the residential units, are about $1.1 million each.
The Shore Residences is expected to be fully launched in 2015.
Dec 31, 2009
Property developer Far East Organization said its newest project, The Shore Residences, saw strong demand since the start of its preview two weeks ago.
The 408-unit The Shore Residences is located in the Katong area.
The property developer said more than 70 units were sold and interested buyers have also registered for the units, which will have its official launch on January 21 next year.
Among the units, the one- and two-room units were the most popular.
Far East said that almost all of the 84 one-room units, with a price of $658,000 each, were sold out.
The two-room units, which make up the majority of the residential units, are about $1.1 million each.
The Shore Residences is expected to be fully launched in 2015.
Report reveals the UK's most expensive places to purchase property
Report reveals the UK's most expensive places to purchase property
Dec 31, 2009 - PropertyGuru.com.sg
Chelsea and Kensington in London are the most expensive places in the UK to purchase real estate, with half of the most expensive residential area in the borough.
The average price for a real estate property in the Wycombe Square is about £5.4 million.
Overall, five out of the nine regions of Wales and England have an average home cost of over £1 million, according to the new report by Halifax.
Moles Hill in Leatherhead is the most expensive street outside the capital, with an average real estate property costing about £2.6 million. This is followed by Leys Road, also located in Leatherhead, and Woodlands Road West in Virginia Water, both offering £2.5 million for an average property.
Park Lane in Altrincham and Withinlee Road in Macclesfield are the most costly streets outside of southern England, with each property costing around £1.2 million.
Druidstone Road in Cardiff, on the other hand, has the most expensive residential street within Wales, at £621,000 per property.
Halifax’s housing economist, Nitesh Patel, said that it is not a surprise that most of the highly expensive residential streets are located in the Royal Borough of Chelsea and Kensington, with over half of the 30 highly expensive London streets in the borough.
“Kensington and Chelsea has long had a global appeal but the fall in the value of sterling has helped to attract foreign buyers over the past year despite the worldwide economic recession,” Patel said. “Across most regions, the survey shows that the most expensive streets are tightly clustered within the same area.”
In Edinburgh, the most expensive street is the Warriston Crescent, a row of luxury townhouses next to the Water of Leith, with each property costing about £960,671, according to the separate report of the Bank of Scotland.
Edinburg has six of the ten most expensive streets in Scotland.
The Drumsheugh Gardens is the second in the list, with housing prices fetching to £883,254, followed by Merchiston Gardens, where property prices reaching £672,856.
Additionally, the most expensive street outside Edinburgh is the Morningfield Road, which is located in the west end of Aberdeen, with average property reaching £592,297.
Glasgow’s most expensive street is the Royal Gardens, at £571,500 per average property while Victoria Park Gardens South in Broomhill, has an average property price of £523,429.
Dec 31, 2009 - PropertyGuru.com.sg
Chelsea and Kensington in London are the most expensive places in the UK to purchase real estate, with half of the most expensive residential area in the borough.
The average price for a real estate property in the Wycombe Square is about £5.4 million.
Overall, five out of the nine regions of Wales and England have an average home cost of over £1 million, according to the new report by Halifax.
Moles Hill in Leatherhead is the most expensive street outside the capital, with an average real estate property costing about £2.6 million. This is followed by Leys Road, also located in Leatherhead, and Woodlands Road West in Virginia Water, both offering £2.5 million for an average property.
Park Lane in Altrincham and Withinlee Road in Macclesfield are the most costly streets outside of southern England, with each property costing around £1.2 million.
Druidstone Road in Cardiff, on the other hand, has the most expensive residential street within Wales, at £621,000 per property.
Halifax’s housing economist, Nitesh Patel, said that it is not a surprise that most of the highly expensive residential streets are located in the Royal Borough of Chelsea and Kensington, with over half of the 30 highly expensive London streets in the borough.
“Kensington and Chelsea has long had a global appeal but the fall in the value of sterling has helped to attract foreign buyers over the past year despite the worldwide economic recession,” Patel said. “Across most regions, the survey shows that the most expensive streets are tightly clustered within the same area.”
In Edinburgh, the most expensive street is the Warriston Crescent, a row of luxury townhouses next to the Water of Leith, with each property costing about £960,671, according to the separate report of the Bank of Scotland.
Edinburg has six of the ten most expensive streets in Scotland.
The Drumsheugh Gardens is the second in the list, with housing prices fetching to £883,254, followed by Merchiston Gardens, where property prices reaching £672,856.
Additionally, the most expensive street outside Edinburgh is the Morningfield Road, which is located in the west end of Aberdeen, with average property reaching £592,297.
Glasgow’s most expensive street is the Royal Gardens, at £571,500 per average property while Victoria Park Gardens South in Broomhill, has an average property price of £523,429.
Japan Land appoints new managing director
Japan Land appoints new managing director
Dec 31, 2009 - PropertyGuru.com.sg
Japan Land, a Mainboard-listed property investment company, said last Wednesday that it has appointed Leow Tet Sin as the new managing director and member of the company’s nominating committee, effective from December 23.
The recent appointment settles a conflict of interest issue that has overwhelmed the company since November, when Sin Boon Ann, a member of parliament for Tampines and Japan Land's independent director and lawyer, resigned from the board.
Mr. Sin vacated the board of directors, claiming that he is not satisfied that the company has enough control of Japan Asia Land Limited, its operating subsidiary.
The spotlight was also directed on a possible conflict of interest as Mitsutoshi Ono, one of the former managing directors of Japan Land, was at the same time the president of Japan Asia Land, the firm's subsidiary.
Mr. Ono has resigned as managing director and presently does not sit on the company's board of directors.
With Mr. Leow’s appointment, the company affirmed that there are no changes to the composition of the other Board Committees.
Dec 31, 2009 - PropertyGuru.com.sg
Japan Land, a Mainboard-listed property investment company, said last Wednesday that it has appointed Leow Tet Sin as the new managing director and member of the company’s nominating committee, effective from December 23.
The recent appointment settles a conflict of interest issue that has overwhelmed the company since November, when Sin Boon Ann, a member of parliament for Tampines and Japan Land's independent director and lawyer, resigned from the board.
Mr. Sin vacated the board of directors, claiming that he is not satisfied that the company has enough control of Japan Asia Land Limited, its operating subsidiary.
The spotlight was also directed on a possible conflict of interest as Mitsutoshi Ono, one of the former managing directors of Japan Land, was at the same time the president of Japan Asia Land, the firm's subsidiary.
Mr. Ono has resigned as managing director and presently does not sit on the company's board of directors.
With Mr. Leow’s appointment, the company affirmed that there are no changes to the composition of the other Board Committees.
Greenlodge Condo up for en bloc sale, with $135m asking price
Greenlodge Condo up for en bloc sale, with $135m asking price
Dec 31, 2009 - PropertyGuru.com.sg
Owners at Greenlodge Condominium in Toh Tuck Road launched its freehold estate for en bloc sale. This was prompted by the improving property market.
They are asking for $135 million for the site, which translates to $683 per square foot per plot ratio (psf ppr), including the development charge.
The 14,000-sq-ft freehold land currently comprises 80 units.
Newman & Goh, the marketing agent of Greenlodge Condo, believes that the site can be potentially redeveloped to 211 units of boutique apartments at an average size of 1,000 sq ft.
Newman & Goh expects to fetch no less than $1250 per sq ft for this new development project.
The collective tender for the site will close on January 13, 2010.
Dec 31, 2009 - PropertyGuru.com.sg
Owners at Greenlodge Condominium in Toh Tuck Road launched its freehold estate for en bloc sale. This was prompted by the improving property market.
They are asking for $135 million for the site, which translates to $683 per square foot per plot ratio (psf ppr), including the development charge.
The 14,000-sq-ft freehold land currently comprises 80 units.
Newman & Goh, the marketing agent of Greenlodge Condo, believes that the site can be potentially redeveloped to 211 units of boutique apartments at an average size of 1,000 sq ft.
Newman & Goh expects to fetch no less than $1250 per sq ft for this new development project.
The collective tender for the site will close on January 13, 2010.
Government to launch 10 sites for tender in H1 2010
Government to launch 10 sites for tender in H1 2010
Dec 31, 2009 - PropertyGuru.com.sg
The government announced that its industrial land sales programme will put 10 sites, including two on the confirmed list, up for tender in the first half of 2010.
Sites on the confirmed list will be launched for tender regardless of developers' interest.
The two sites on the confirmed list include a new site at Ubi Road 1 and a site at Tampines Industrial Avenue 4, which was formerly on the government’s reserve list.
The two confirmed sites have a total of 8.39 hectares site area.
The remaining sites are on the reserve list.
These sites will be launched for sale only after a developer commits to bid at or above the minimum price.
Only the Pioneer Road North site is new to the list.
The rest of the seven sites will be carried over from the reserve list in 2009. These include the Yishun Ave 6, Woodlands Ave 12, Toh Tuck Ave. and Serangoon North Ave 4.
Eight sites included on the reserve list have a total of 13.46 hectares site area.
Due to the uncertain market outlook in October 2008, the confirmed list was suspended then.
However, with the stronger demand seen this year, National Development Minister Mah Bow Tan announced in September 2009 that the confirmed list will be reinstated in the Government Land Sales (GLS) Programme for H1 2010.
Dec 31, 2009 - PropertyGuru.com.sg
The government announced that its industrial land sales programme will put 10 sites, including two on the confirmed list, up for tender in the first half of 2010.
Sites on the confirmed list will be launched for tender regardless of developers' interest.
The two sites on the confirmed list include a new site at Ubi Road 1 and a site at Tampines Industrial Avenue 4, which was formerly on the government’s reserve list.
The two confirmed sites have a total of 8.39 hectares site area.
The remaining sites are on the reserve list.
These sites will be launched for sale only after a developer commits to bid at or above the minimum price.
Only the Pioneer Road North site is new to the list.
The rest of the seven sites will be carried over from the reserve list in 2009. These include the Yishun Ave 6, Woodlands Ave 12, Toh Tuck Ave. and Serangoon North Ave 4.
Eight sites included on the reserve list have a total of 13.46 hectares site area.
Due to the uncertain market outlook in October 2008, the confirmed list was suspended then.
However, with the stronger demand seen this year, National Development Minister Mah Bow Tan announced in September 2009 that the confirmed list will be reinstated in the Government Land Sales (GLS) Programme for H1 2010.
Wednesday, December 30, 2009
Terrace homes comprise the lion’s share of landed homes
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.
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.
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.
Tuesday, December 29, 2009
Market ignores CapitaLand, SIA losses
Market ignores CapitaLand, SIA losses
Dec 31, 2009 - PropertyGuru.com.sg
Even though ‘big hitters’ such as CapitaLand and Singapore Airlines posted quarterly losses and warned of difficult days in the future, the Strait Times Index (STI) romped to 2,636 points high for over ten months.
Yesterday, the second biggest airline in the world by market capitalisation posted a loss of $307 million for the quarterly period from April to June. The incurred loss was mainly due to the combination of the global economic decline, the fuel hedging losses and the outbreak of Influenza A.
It was the company’s second time to post a quarterly loss. From April to June 2003, it dropped into red to the amount of $312 million at the height of the Sars pandemic.
However, today, unlike the fiscal year 2003 and 2004, the company was threatened that the full year could be in the red. If that happens, this year would be its first loss-making year ever since it was first established in 1972.
On the other hand, the biggest property developer in South-east Asia, CapitaLand, also posted its first quarter loss as of 2003, noting write-downs on investments.
CapitaLand pictured a dark outlook for the full year once its net loss of $156.9 million for the period of April to June increases.
According to Chairman Richard Hu, “Although some stability has been restored in the financial markets, the outlook for 2009 remains uncertain”.
CapitaLand noted that excluding impairments and revaluations, the company earned a net profit of $124 million for the quarter.
Three big banks are going to report their quarterly results next week. They will surely be closely watched to determine the levels of free-based income trends and non-performing loans.
Others like the SembCorp will supply denotations of the latest trend in world infrastructure expenditures. As the market tries to hold its hopes on the recovery, major companies like CapitaLand and SIA seems to doubt the forward indicators.
In the case of SIA, though signs of small sequential improvements can be seen, premium seat sales remain under pressure. Premium seats also account for 40 percent of the income of the airline.
For this year, the International Air Transport Association (IATA) anticipates the market to post losses of about US$9 billion.
Carriers from the Asia-Pacific experienced a 14.5 percent yearly decline in passenger demand in June, twice the world passenger traffic decline of 7.2 percent.
For the property division, repressed demand has released a new craze of buying by upgraders. Due to this, the prices of new residential property have increased by 5 to 7 percent every month.
Most developers will surely enjoy the spoils of unloading inventory. However, like what CIMB said, strong household balance sheets and loosening of the credit market have aided to carry dealings.
According to the research house, the following leg of the growth in the demand has to come from key improvements in the economy. It can still be seen whether the increasing demand in 2010 to 2011 will be enough to get the supply balanced to strike the market.
However, the liquidity that flows in the Singapore market has promoted the STI by a walloping 81 percent as of March.
Dec 31, 2009 - PropertyGuru.com.sg
Even though ‘big hitters’ such as CapitaLand and Singapore Airlines posted quarterly losses and warned of difficult days in the future, the Strait Times Index (STI) romped to 2,636 points high for over ten months.
Yesterday, the second biggest airline in the world by market capitalisation posted a loss of $307 million for the quarterly period from April to June. The incurred loss was mainly due to the combination of the global economic decline, the fuel hedging losses and the outbreak of Influenza A.
It was the company’s second time to post a quarterly loss. From April to June 2003, it dropped into red to the amount of $312 million at the height of the Sars pandemic.
However, today, unlike the fiscal year 2003 and 2004, the company was threatened that the full year could be in the red. If that happens, this year would be its first loss-making year ever since it was first established in 1972.
On the other hand, the biggest property developer in South-east Asia, CapitaLand, also posted its first quarter loss as of 2003, noting write-downs on investments.
CapitaLand pictured a dark outlook for the full year once its net loss of $156.9 million for the period of April to June increases.
According to Chairman Richard Hu, “Although some stability has been restored in the financial markets, the outlook for 2009 remains uncertain”.
CapitaLand noted that excluding impairments and revaluations, the company earned a net profit of $124 million for the quarter.
Three big banks are going to report their quarterly results next week. They will surely be closely watched to determine the levels of free-based income trends and non-performing loans.
Others like the SembCorp will supply denotations of the latest trend in world infrastructure expenditures. As the market tries to hold its hopes on the recovery, major companies like CapitaLand and SIA seems to doubt the forward indicators.
In the case of SIA, though signs of small sequential improvements can be seen, premium seat sales remain under pressure. Premium seats also account for 40 percent of the income of the airline.
For this year, the International Air Transport Association (IATA) anticipates the market to post losses of about US$9 billion.
Carriers from the Asia-Pacific experienced a 14.5 percent yearly decline in passenger demand in June, twice the world passenger traffic decline of 7.2 percent.
For the property division, repressed demand has released a new craze of buying by upgraders. Due to this, the prices of new residential property have increased by 5 to 7 percent every month.
Most developers will surely enjoy the spoils of unloading inventory. However, like what CIMB said, strong household balance sheets and loosening of the credit market have aided to carry dealings.
According to the research house, the following leg of the growth in the demand has to come from key improvements in the economy. It can still be seen whether the increasing demand in 2010 to 2011 will be enough to get the supply balanced to strike the market.
However, the liquidity that flows in the Singapore market has promoted the STI by a walloping 81 percent as of March.
Overwhelming response for BTO flats in Dawson
Overwhelming response for BTO flats in Dawson
Dec 29, 2009 - PropertyGuru.com.sg
Homebuyers who applied for BTO flats at Dawson in Queenstown are experiencing stiff competition.
Application for the flats ended yesterday, and about 1,718 premium flats were six-times oversubscribed.
Units at Skyterrace@Dawson and SkyVille@Dawson are public flats, with premium designs and finishes. These projects are comprised of studio-type units, as well as three- to five-room flats.
A total of 9,865 individuals applied for its 1,718 units.
The five-room flats, which cost around $500,000, proved to be the most popular. About 200 flats were offered but over 2,000 applicants were competing for them.
The four-room flats also saw high demand. 1,100 such flats were offered, but more than 6,000 applications were received.
One analyst said that the demand for the newest project was fuelled by "sandwich class" individuals, who were willing to pay more for public housing.
Nicholas Mak, a real estate lecturer at Ngee Ann Polytechnic said, "They may wish to buy private properties but because of the escalating prices of entry-level private properties, these people may be looking to buy more premium types of HDB flats."
Paired units, which were being offered for the first time, also proved to get good response. Over 300 applications have been received for the 70 units being offered.
Applicants will know the result, as well as their queue number by February next year.
For those unsuccessful applicants, HDB said that they can still look forward to more Build-To-Oder (BTO) projects in 2010. In fact, HDB is prepared to launch one BTO project every month, if demand for these flats continues to increase.
Dec 29, 2009 - PropertyGuru.com.sg
Homebuyers who applied for BTO flats at Dawson in Queenstown are experiencing stiff competition.
Application for the flats ended yesterday, and about 1,718 premium flats were six-times oversubscribed.
Units at Skyterrace@Dawson and SkyVille@Dawson are public flats, with premium designs and finishes. These projects are comprised of studio-type units, as well as three- to five-room flats.
A total of 9,865 individuals applied for its 1,718 units.
The five-room flats, which cost around $500,000, proved to be the most popular. About 200 flats were offered but over 2,000 applicants were competing for them.
The four-room flats also saw high demand. 1,100 such flats were offered, but more than 6,000 applications were received.
One analyst said that the demand for the newest project was fuelled by "sandwich class" individuals, who were willing to pay more for public housing.
Nicholas Mak, a real estate lecturer at Ngee Ann Polytechnic said, "They may wish to buy private properties but because of the escalating prices of entry-level private properties, these people may be looking to buy more premium types of HDB flats."
Paired units, which were being offered for the first time, also proved to get good response. Over 300 applications have been received for the 70 units being offered.
Applicants will know the result, as well as their queue number by February next year.
For those unsuccessful applicants, HDB said that they can still look forward to more Build-To-Oder (BTO) projects in 2010. In fact, HDB is prepared to launch one BTO project every month, if demand for these flats continues to increase.
Residential site in Sengkang to be launched for public tender
Residential site in Sengkang to be launched for public tender
Dec 29, 2009 - PropertyGuru.com.sg
The Housing Development Board (HDB) has received an application from a property developer to launch a residential site located at Sengkang West Avenue for public tender.
The parcel of land is under HDB's Reserve List System.
Under the Reserve List System, a site will only be put up for public tender if the government receives an application from a developer at or above the minimum price that is acceptable to them.
In this case, the Sengkang site is being offered at a minimum price of $70 million.
HDB will launch the site for tender in two weeks' time.
A 99-year leasehold condominium development is being planned for the 183,000-sq-ft site.
Dec 29, 2009 - PropertyGuru.com.sg
The Housing Development Board (HDB) has received an application from a property developer to launch a residential site located at Sengkang West Avenue for public tender.
The parcel of land is under HDB's Reserve List System.
Under the Reserve List System, a site will only be put up for public tender if the government receives an application from a developer at or above the minimum price that is acceptable to them.
In this case, the Sengkang site is being offered at a minimum price of $70 million.
HDB will launch the site for tender in two weeks' time.
A 99-year leasehold condominium development is being planned for the 183,000-sq-ft site.
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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
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