• Elise Toh Bee Yean
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  • Bedroom Ewe Boon Regent 31 Ewe Boon Road S$ 4,388
  • The Minton Hougang Street 11 S$ 770,000
  • The Minton 147 Hougang Str... S$ 1,588,800

Current Launches

  • 6 Derbyshire 6 Derbyshire 6 Derbyshire Road 04/12/2013
  • Berkeley Residences Berkeley Reside ... 11 Lorong N Tel ... 28/11/2013
  • Rezi 3 Two Rezi 3 Two 48 Lorong 32 Geylang 28/11/2013

Properties Market News


    500-800 new homes could be sold in April: expert

    Monday, 21 April, 2014

    Excluding The Santorini condominium, sales of new private homes in March was robust despite the fact that take-up in the primary market fell 35 percent month-on-month, revealed a Credit Suisse report. 

    Last month saw a total of 724 private residential units launched, the most since November 2013. Of that number, however, 597 units came from The Santorini in Tampines which reported a disappointing 13 percent take-up rate, likely because there are no MRT stations nearby.

    Without factoring The Santorini, sales volume was strong at 320 percent, with most of the top-selling projects located near train stations in the Outside Central Region (OCR), likely attracting the HDB upgraders segment.   

    At the same time, the URA data showed that sales in the Core Central Region (CCR) and Rest of Central Region (RCR) improved by 1.9 percent and 44.3 percent respectively.

    This outcome is the result of more transactions involving remaining units at previously launched projects, said Chia Siew Chuin, Director of Research & Advisory at Colliers International.

    "These include Eight Riversuites (44 units sold), Guillemard Suites (14 units), and Bartley Ridge (12 units) in the RCR, as well as Hallmark Residences (13 units), Liv on Wilkie (9 units) and Goodwood Residences (8 units) in the CCR."

    Moving forward, new home sales are expected to hit 500 to 800 units in April, given the healthy interest seen during the launch of Lakeville, added Chia. 

    However, total sales are forecast to drop 20 to 30 percent in 2014 from 15,015 last year, noted Credit Suisse, adding that larger prime units could face more downward pressure.

    Nevertheless, mass-market projects near MRT stations are predicted to remain resilient.

    Muneerah Bee, Senior Journalist at PropertyGuru, edited this story. To contact her about this or other stories email muneerah@propertyguru.com.sg

    Source: PropertyGuru.com.sg

    New agent courses in the works for marketing foreign property

    Monday, 21 April, 2014

    Real estate salespersons can soon look forward to new Continuing Professional Development (CPD) courses focusing on overseas property.
     
    Speaking to PropertyGuru, Singapore Accredited Estate Agencies (SAEA) CEO Dennis Tay revealed that SAEA and other industry bodies have submitted proposals to the Council for Estate Agencies (CEA) to offer core CPD courses on marketing foreign properties. 

    CEA requires all training providers conducting core CPD activities to obtain prior approval from the council. 

    The syllabus of the proposed course will be based on the practice guidelines released by CEA in March this year. The "Practice Guidelines for Estate Agents and Salespersons Marketing Foreign Properties" provides details on the preparatory activities required before the estate agents market foreign properties. Through the course, property salespersons can learn more about the guidelines and what is expected of them before they start selling foreign properties. 

    Aside from merely reading the guidelines, attending the course will equip them with a better understanding of foreign transactions and they will benefit from the learning experience. Tay noted that the trainers selected to conduct such courses must be able to share some case studies (which are not included in the practice guideline) to illustrate real life examples to the participants.  

    He said, "They must be impartial, have no conflict of interest and be prepared to share case studies of the good and the bad so that everybody can learn." Ideally, trainers must also have visited the place and be familiar with the rules and regulations of the country. 

    Tay believes that more can be done to improve the professionalism of salespersons when it comes to selling overseas projects. Beyond the CPD courses, he hopes there would a formalised certification for marketing such property, similar to the Certified International Property Specialist (CIPS) in the US. 

    An examinable certificate accreditation as such would provide salespersons with more in-depth knowledge and give buyers a greater sense of assurance. The curriculum could also be country-specific and cover important things that salespersons should be aware of in certain countries.

    Besides the guidelines from the government and learning opportunities from industry bodies, the onus is also on the salesperson to be thoroughly informed about the political and social landscape of the country in addition to the economic environment, interest rates and currency fluctuation of the market. 

    Harold Tan, a CPD trainer at SAEA, said, "The rules, regulations, titles, government intervention and other macro and micro environment will affect property value and investments in foreign properties. Investors need the knowledge and expertise of the salespersons to help them navigate the complex property environment overseas as they are not there to monitor the situations and changes in the environment."

    Currently most salespersons attend in-house trainings and briefings before proceeding to sell but the introduction of the core CPD module would further formalise the skills needed and offer consistency across the industry. Tan said that as property investment involves high capital outlay, some standards need to be established through courses and certification so that the practitioners are qualified to carry out their duties properly. 

    Singapore has seen a healthy interest in overseas property, especially in the Iskandar region across the causeway. Responding to queries from PropertyGuru, CEA indicated that there has been no significant increase in the number of complaints involving agents selling foreign properties so far.

    Muneerah Bee, Senior Journalist at PropertyGuru, wrote this story. To contact her about this or other stories email muneerah@propertyguru.com.sg

    Source: PropertyGuru.com.sg

    Singapore's measures discouraging foreign property investment

    Thursday, 17 April, 2014

    Overseas real estate investments tend to flow into countries with fewer tax regulations, according to Andrew Batt, International Group Editor of PropertyGuru in a recent interview with Channel NewsAsia.

    "There is a lot of money out there right now looking for investments in property, so the countries where it becomes easier to invest, where there are less tax regulations, the money is going to go to those kinds of places," he said. 

    On the other hand, Singapore's cooling measures have effectively reduced the percentage of foreign property buyers just like what happened in Hong Kong, where expatriates are still subject to a 15 percent tax.

    "Going back two-and-a-half years, 17 percent of all property transactions in Singapore were from non-Singaporeans. As of the third quarter of last year it had dropped to seven percent, so that could be down to the additional buyers' stamp duty. It could be down to economic reasons as well," said Batt.

    Meanwhile, the RM1 million minimum price threshold for foreign buyers in Malaysia is expected to impact investors who bought properties below that amount in Johor.

    "The reason being, from 1 May, overseas buyers can only buy at one million ringgit and above. Let's say you are Singaporean and you have purchased a property in Johor state for RM750,000, there has not been that much capital appreciation yet. Let's say you need to get rid of it fairly quickly for one reason or another, you can only sell to a Malaysian below one million and, honestly, there are not that many Malaysians buying at that kind of price level right now so you could be stuck with something," he added.

    Nevertheless, the latest ruling does not cover the Medini area in Iskandar, even though it has already taken effect in Penang and Kuala Lumpur.

    Muneerah Bee, Senior Journalist at PropertyGuru, edited this story. To contact her about this or other stories email muneerah@propertyguru.com.sg

    Source: PropertyGuru.com.sg

    Govt considers allowing couples to co-rent larger flats

    Wednesday, 16 April, 2014

    The Ministry of National Development (MND) is looking at allowing some couples to co-rent larger HDB flats under the Parenthood Provisional Housing Scheme (PPHS).

    This was revealed recently by National Development Minister Khaw Boon Wan in Parliament, in response to a query about the scheme's take up rate and rental formula.

    Media reports stated that when it was launched in January 2013, the scheme was exclusively for married couples with children applying as first-timers in need of interim housing while waiting for the completion of their new flats.

    The scheme was extended in September to widowed and divorced parents as well as to couples where one spouse is a first-time applicant while the other is a second-timer.

    Although the number of applicants peaked at 409 in September, it has since dropped to 81.

    To date, more than 900 of the 1,150 flats have been occupied and the remaining 250 units consist of four- and five-rooms.

    "Currently, three-room PPHS flats are most in demand because PPHS applicants tend to be small families and a smaller flat is sufficient to meet their needs," said an MND spokesman.

    In his response, Mr Khaw also noted that rents under the scheme are 40 to 60 percent lower than market rents within the area.

    Moreover, the cost of providing flats includes the cost of retrofitting the units before they are let out as well as the units' management and maintenance fees, he said.

    Muneerah Bee, Senior Journalist at PropertyGuru, edited this story. To contact her about this or other stories email muneerah@propertyguru.com.sg

    Source: PropertyGuru.com.sg

    S'pore has most X factor in Asia

    Wednesday, 9 April, 2014

    Singapore has emerged in joint third place with Paris in a global ranking of international cities, which classifies them by their "X factor" for real estate investors.

    Released today by property consultancy Savills, the report ranked 12 cities based on a combination of global competitiveness and measures such as connectivity, international visitors and web search data. It does not necessarily reflect traditional measures of real estate costs, but instead indicates the city's longer term stability and attractiveness.  

    It jointly ranked New York and London first, while major Asian cities Hong Kong, Tokyo and Shanghai occupied the fifth, sixth and seventh positions respectively.

    "Our definition of a world city is not just based on size or economic prosperity, but other less tangible factors," said Yolande Barnes, Director of Savills World Research.

    "These include fame, prominence, international reach and investability - all factors that are not revealed by population and GDP figures alone."

    She explained that these intangibles affect "the appeal of a city to business and wealth generators, which in turn influences the pace of residential and commercial real estate market growth and contraction and levels of market stability". 

    The study also showed that Singapore is fifth in the world city rankings for residential as well as commercial real estate investment yields, while Tokyo took top spot on both lists.

    Muneerah Bee, Senior Journalist at PropertyGuru, edited this story. To contact her about this or other stories email muneerah@propertyguru.com.sg

    Source: PropertyGuru.com.sg

1 2 3 4 5 More Property News >>

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