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Property and it prices - Outlook for 2008

teeth53
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24-Apr-2010 11:24

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http://www.channelnewsasia.com/stories/singaporelocalnews/view/1052096/1/.html

SINGAPORE: HDB resale prices have hit a fresh record in the first quarter of this year rising by 2.8 per cent compared with the previous quarter. But the latest figures show signs of a market that's finally stabilising after months of runaway prices.

Analysts said measures to cool the market have worked including the launch of more HDB projects.

Other measures include restricting the cash portion of the second concessionary home loan, channeling the loan through the buyer's CPF account.

In the rental market, demand between January and March increased sharply, with transactions up 69 per cent over the previous quarter.

The HDB said subletting transactions went up from 3,902 in the last three months of 2009, to 6,606 cases. However, rents remain relatively stable, with median prices for four- and five-room flats hovering just under S$2,000 a month.
In the last three months, 2,323 flatowners applied to continue renting their flats, 19 per cent more than the previous quarter.

This is partly driven by foreigners returning to Singapore to work as the economy improves. Analysts said this is partly driven by foreigners returning to Singapore to work as the economy improves while the HDB said the spike is also due to an increase in renewals of rental flats.

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teeth53
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05-Jul-2009 19:57

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Unemployment reported..., economy reported suggesting news out do not sound good. NTUC Deputy Sec-Gen said...Ms Halimah Yacob cited recent Data showed a DOUBLING OF THOSE CLASSSIED AS LONG TERM UNEMPLOYED: 16,000 WORKERS TOOK MORE THAN 25 WEEKS TO FIND A JOB - UP FROM 7,500 A YEAR AGO.

Joshua Shapiro mentioned, chief U.S. economist at Maria Fiorini Ramirez Inc. "I think people have confused that transition with the beginning of a recovery."

Reminded me of those few green shoot as.....isit for real recovery this year. (I think not). Howerver year end windows dressing for stocks remain positive in it outlook.

teeth53 ( Date: 05-Jul-2009 19:38) Posted:

Jobs situation will worsen if those that is retrenched in 1st Q joined those retrenched in 2nd Q, while 124,500 workers signed up for SPUR training, 1,800 companies, 2/3 sent by their employers. 19,000 job - seekers were placed in jobs through Spur. funded S$210m out of S$650m mainly for courses. S'pore MOM. Mr Gan Kim Yong mentioned unemployment remain or to rise further with labour market soft for d next one to two quarter and with d economy outlook still uncertain.

Property remain weak......just sharing my thot...teeth53

DOW 223.32 -2.70% to 8,280.74

http://money.cnn.com/2009/07/02/markets/markets_weekahead/index.htm?postversion=2009070415

Stocks, as measured by the S&P 500, rallied 40% between the March 9 lows and the June 11 highs. But in the weeks since, stocks have drifted lower, with the S&P 500 sliding 5% as bets that the economy is close to stabilizing turned to worries that the market jumped the gun.

"We are moving out of the paralysis phase that followed the collapse of Lehman Brothers and back into a recession phase," said Joshua Shapiro, chief U.S. economist at Maria Fiorini Ramirez Inc. "I think people have confused that transition with the beginning of a recovery."

Friday's much worse than expected June jobs report sent investors heading for the exits in a thinly traded session ahead of the Independence Day holiday weekend.

The next few weeks on Wall St are unlikely to give investors any reason to jump back into stocks. But enough optimism remains in place and enough government money will flood the system - that a bigger selloff can probably be avoided, said Gary Webb, CEO at Webb Financial Grp.

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teeth53
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05-Jul-2009 19:38

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DOW 223.32 -2.70% to 8,280.74

Friday's much worse than expected June jobs report sent investors heading for the exits in a thinly traded session ahead of the Independence Day holiday weekend.

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teeth53
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01-Jul-2009 21:01

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2Q of 2009 came and go, now entering 3Q - 09. Will it be better off then 2Q ?. I think not, as not much good news is been sent out by US. this can send mix and uncertainty signal, hope Obama can pump more $$$ to re-invent US economy

http://news.asiaone.com/News/AsiaOne%2BNews/Singapore/Story/A1Story20090701-152083.html

SINGAPORE'S private home prices fell 5.9 per cent in the second quarter, which was an improvement from the record 14.1% fall in the first quarter. Meanwhile HDB resale prices up

http://money.cnn.com/2009/07/01/real_estate/mortgage_applications.reut/index.htm?postversion=2009070107 (Reuters) -- Mortgage applications plunged to a seven-month low last week as demand for home refinancing loans tumbled 30%, data from an industry group showed Wednesday.

The drop does not bode well for the hard-hit U.S. housing market, which has been showing some signs of stabilization, with sales rising and home price declines moderating in many regions of the country. "Rising unemployment, concerns about job security, potential buyers' inability to sell their existing homes and problems with appraisals coming in too low are all weighing on demand,"

Tax hikes and cutbacks: States crunched &

Detroit joblessness worst among big cities

7:57am: States are still struggling to balance budgets as fiscal year 2010 starts. New tax hikes and spending cuts take effect. And California is running low on cash. More

http://money.cnn.com/2009/06/30/news/economy/Obama_consumer_agency/index.htm?postversion=2009070104

The government is engaged in a far-reaching - and expensive - effort to rescue the economy. Here's how you can keep tabs on the bailouts. More

teeth53 ( Date: 24-Apr-2009 22:52) Posted:

Property sales and rentals down in Q1 2009 teeth53 tot: 2Q of 2009 is as bad, property developers will encourage more buyers,offering sales by packaging deals. Early bird can get something more...

The URA also reported in its latest release that as at the end of the 1st Quarter 2009, there was a total supply of 64,152 uncompleted units of private housing from projects in the pipeline.

Of these, 42,045 units remain unsold.

As for the 64,152 uncompleted units, 27,423 units were expected to be completed between 2nd quarter 2009 and 2011, and most are already under construction6.

The URA also said that developers have obtained planning approvals for for projects totaling some 4,000 units, but have yet to commence construction.

teeth53 ( Date: 04-Apr-2009 09:57) Posted:

Property has play has proven, it will remain very weak for this 1st half..09 and into the 3Q of 2009

teeth53 ( Date: 10-Dec-2008 20:37) Posted:

Dec 2008 almost going and gone. Welcome 2009 which will contiune with it 1st Q...this cycle need to cut n cut staffs down to max d profit, may not be as companies can even go bust even after cutting as there isin't any business for consumer to spend as people's get less pay, less money, less job, less work, less to borrow, less in anything we every thing we do....it seem oredi starting....:(( Come this last 4th Q 2008 and into 1st Q 2009. In order for badly hit Companies to stay afloat, likely to start those dreadful action...Retrenchment

property play is no exception

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des_khor
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25-Apr-2009 23:59

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only a few transcations at low prices and doesn't reflect in boarder markets...

this is same like share market... when in bear market the price will come down very fast as less buyer with very thin vol no support.

we can just recall back in 2007/08 sold how many units with record price compare with current no ?

teeth53 ( Date: 25-Apr-2009 10:10) Posted:

teeth53 thot so: It is certainly not the best time to buy...unless one can get a good bargain

Good or bad time to buy?

Property prices -- sales and rentals -- have dropped across the board in the first quarter. »Biggest fall in...

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teeth53
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25-Apr-2009 10:10

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teeth53
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24-Apr-2009 22:52

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Property sales and rentals down in Q1 2009 teeth53 tot: 2Q of 2009 is as bad, property developers will encourage more buyers,offering sales by packaging deals. Early bird can get something more...

teeth53 ( Date: 04-Apr-2009 09:57) Posted:

Property has play has proven, it will remain very weak for this 1st half..09 and into the 3Q of 2009

teeth53 ( Date: 10-Dec-2008 20:37) Posted:

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teeth53
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15-Apr-2009 22:53

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Private home sales dip 8% in March following Feb's bounce

Sales of private homes dipped 8 per cent in March to 1,220, compared to 1,332 in February.

Latest data from the Urban Development Authority (URA) showed that new properties in suburban areas saw strong sales. Double Bay in Simei saw the biggest sales, with 264 units changing hands. Mi Casa in Choa Chu Kang came in second with 101 units sold.

Properties located just outside the city also drew strong demand. The Arte at Thomson for example, saw 90 units changing hands at a median price of S$874 per square foot.

Developers also placed fewer new units for sale in March - 832 compared to 1,072 in February, down 22 per cent.

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teeth53
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05-Apr-2009 10:02

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For local...No choice..wait a little longer, HDB prices may fall a little this year 09...next yr flat rate 2010, then prices can up a little after that 2011, property cycle chiong only after several more years.

knightbridge ( Date: 04-Apr-2009 20:39) Posted:

If i am Ang mo i will save to buy property back home in Europe or US.. Jaw dropping price lor...

Here price 2009 compare to 2008 of course seem good. but if 2009 price compare with 2006.. 2009 is still higher...

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knightbridge
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04-Apr-2009 20:39

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knightbridge
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04-Apr-2009 20:35

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Expat no money liao.. How to push the rental market in singapore/. If rental drop how property price stay up... Hmm...

Supply is still coming in strong..

Betting on HDB Upgraders..??? Or depreciation of Sin dollars

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teeth53
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04-Apr-2009 09:57

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Property has play has proven, it will remain very weak for this 1st half..09 and into the 3Q of 2009

teeth53 ( Date: 10-Dec-2008 20:37) Posted:

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teeth53
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20-Feb-2009 08:00

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Rents of top-tier offices downtown are predicted to drop 30% to 40% this year, and a further 20 to 25% next year, according to property consultancy Savills

teeth53 ( Date: 20-Feb-2009 07:55) Posted:

Today Straits Times paper ptint and said office rents may slide until 2012, rental of prime space to drop as supply oustrips demand. says Savills..., Tenants rethink pre-booked space and as well asCairnhill Heights sale: Would-be buyer pulls out....Deveoper cites poor market conditions for 11th-hour decision...

teeth53 thot and mentioned before.

teeth53 ( Date: 15-Feb-2009 22:01) Posted:

Rental will drop, so is property prices, secure while one can..as recession bite deepr into the economy, is happening else where n it can happen here, intitial by watching how govt is trying it best to save job n off budget maybe even telling in coming day...:((

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teeth53
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20-Feb-2009 07:55

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teeth53 thot and mentioned before.

teeth53 ( Date: 15-Feb-2009 22:01) Posted:

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cheongwee
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15-Feb-2009 23:21

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I am not been party pooper seeing some properety rally now, but given the current condition, another bad report will see all properties counter go lower low...can some perform miracle in this market condition???...you say....vested a little ..looking to buy more on dip.

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teeth53
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15-Feb-2009 22:01

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teeth53
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24-Jan-2009 09:34

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In 2008, overall prices of private residential properties fell by 4.7 per cent, hurt by the global slowdown. Market watchers said they expect to see more downside.

Karamjit Singh, MD of Credo Real Estate, said: "I expect the decline to accelerate, going forward, as the full effect of the meltdown that took place in the fourth quarter is being felt by the market. Q1 (2009) and Q2 would definitely be negative. In fact, I won't be surprised if prices will reflect declines by more than 6.1%

Singapore private home prices see steepest falls in a decade

Donald Han, managing director of Cushman & Wakefield, said: "We think, probably, Q1 will be worse than Q4, mainly because we are at the epicentre of the economic downturn. We expect home buying mood to also descend from here... probably anything from 6 per cent to 7.5 per cent for Q1 and the same number for second quarter."

It is unclear how long and how deep the recession will be, but some market players are already expecting the potential fall in private home prices to be comparable to levels seen during the Asian financial crisis when prices dropped by 42 per cent over two years.
Meanwhile, public housing prices remained more resilient. HDB resale flat prices in the fourth quarter rose by 1.4 per cent, albeit lower than the 4.2 per cent increase recorded in the third quarter.

Donald Han said: "You will have the (resale flat prices) beginning to taper off after a very strong 14 per cent last year. We probably expect the HDB prices to remain flat for the first half, before you see a slight dip towards the second half of 2009."

teeth53 ( Date: 11-Jan-2009 20:40) Posted:

Bull run over for Singapore property. The Year of the Ox begins later this month but the bull run is already over for Singapore's property sector, described as the world's hottest market just two years ago.

http://sg.news.yahoo.com/afp/20090111/tap-finance-economy-singapore-property-06f3cb7.html

Prices of private homes fell 5.7 percent in the fourth quarter, following a 2.4 percent drop in the preceding period, according to the latest data from the Urban Redevelopment Authority (URA), the state agency responsible for land use planning.

The fourth quarter marked the sharpest drop in home prices in a decade, the URA said.

"Further contraction is on the way," analysts from the Hong Kong-based CLSA brokerage and investment group said in their outlook for the property sector.

"We continue to expect the URA index to see an accelerated fall in the next quarter," they said.

Local home prices have not fallen so far since 1998 when Singapore was stung by the Asian financial crisis that pushed the local property sector into a slump lasting until 2005, when the government approved the construction of two multi-billion-dollar casino complexes.

By 2007, real estate giant Jones Lang LaSalle was describing Singapore's market as the world's hottest, and the city-state's property prices surged 31 percent overall.

teeth53 ( Date: 10-Dec-2008 20:37) Posted:

Dec 2008 almost going and gone. Welcome 2009 which will contiune with it 1st Q...this cycle need to cut n cut staffs down to max d profit, may not be as companies can even go bust even after cutting as there isin't any business for consumer to spend as people's get less pay, less money, less job, less work, less to borrow, less in anything we every thing we do....it seem oredi starting....:((

Come this last 4th Q 2008 and into 1st Q 2009. In order for badly hit Companies to stay afloat, likely to start those dreadful action...Retrenchment

property play is no exception as MTI has announed on Wed, that it's suspending it comfirmed lists for industires Govement land sales programs due to signaficant and dynamic changes in global economic conditions.

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des_khor
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12-Jan-2009 10:26

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But some agents quote about $780 psf (reservoir view)... this owner initially asking for $750psf a month ago and now willing to drop the the asking price .. If I grap now I save about 260k from developer price !!

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AK_Francis
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12-Jan-2009 09:49

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Ha ha, after Jun loh. However, still got room for waiting if by then the ppty charts still see down trend.

DnApeh ( Date: 12-Jan-2009 08:01) Posted:

wait some more.

des_khor ( Date: 12-Jan-2009 00:48) Posted:

Just to get some opinion from all ... I'm looking for a condo at the west and one of the agent quote me $700 psf for The Parc pool facing ... I'm understand newly launch price at around $900 psf ! Just wondering whether to grap now or wait some more ??

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DnApeh
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12-Jan-2009 08:01

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wait some more.

des_khor ( Date: 12-Jan-2009 00:48) Posted:

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