US Home Prices Fall due to Recession
According to the Standard and Poor’s/Case-Shiller Home Price Indices that was released on 30 December 2008, the prices of single-family US houses in October had an eight percent slide from 2007 due to the extended recession.From September to October 2008, the composite index of 20 cities in...
Continue Reading • 20 Oct 2009
Home Market Deterioration’s Solution: Lower Prices
Although there are valid reasons for developers not to make their home prices lower, such as the fall of valuations and price war, there are also irresistible reasons for a developer to lower their home prices.First appealing reason to lower home prices is that lower prices will attract buyers...
Continue Reading • 20 Oct 2009
Housing market to remain stagnant in 2009
Singaporean developer DTZ expected home sales to remain weak in 2009 given the economic slowdown. The company said that the poor market condition would hold back consumers from buying real estate. Home sales have decreased dramatically in the third quarter. Only 112 and 192 units were sold in...
Continue Reading • 20 Oct 2009
First REITs bottom line remains steady
First Real Estate Investment Trust (First REIT) announced yesterday that the market value of its eight properties barely changed vis-a-vis 2007. The news came out after the revaluation of the trust’s properties on 26 Dec 2008.The properties were revalued at $324.9 million, compared to the...
Continue Reading • 20 Oct 2009
Home prices keep tumbling
Even if developers beg to differ, private home prices are dropping, and it will keep falling even further until next year. The figures for sold homes is going for an 18 year-low this year, to make it worse, supply is nowhere near deficient.“In every bear market, no matter what the...
Continue Reading • 20 Oct 2009
Sales of new private homes’ dramatic fall
The figures are starting to threaten the industry. With just 192 new private homes sold last month, it has been predicted that this year’s total sales can fall to levels that has never happened since 1990. CBRE Research reveals a total sale of about 4,300 units, a painful drop from last...
Continue Reading • 20 Oct 2009
Laguna Park Owners Approve Enbloc Sale
Channel News Asia (CNA) reported yesterday the approval for the enbloc sale of Laguna Park, a 30-year-old condominium, by the apartments’ owners has reached the 80 percent threshold.The condominium, which has a total land area of about 667,000 sq. ft., is being sold by the owners for S$1.2...
Continue Reading • 20 Oct 2009
Dilemma in the Asian Property Market
The PricewaterhouseCoopers (PwC) and Urban Land Institute (ULI) released a report, The Emerging Trends in Real Estate Asia Pacific 2009, which depicted an apocalyptic scenario of the Asian property market – bankruptcies, falling asset prices, deteriorating debt markets, increasing...
Continue Reading • 20 Oct 2009
Property Investments trickles down a bit
The total investment sales of the Singapore real estate only amounts to S$17.8 billion due to the weak property market trends and grip-tight financing.“With market uncertainty and economic risks appearing to be on the downside, many investors will remain on the sidelines of the property...
Continue Reading • 20 Oct 2009
Office rental values expects to decline
Prime and average Grade A office rental values are expected to decline for about 20 percent in Q4 this year from the previous quarter, CB Richard Ellis said. The fourth quarter fall means that for this whole year, estimated fall in rental is only about 14 percent for prime space and 13 percent...
Continue Reading • 20 Oct 2009
Further property deflation foreseen in 2009
DTZ predicts 15%–20% decline (year-on-year) in the prices of condominiums and apartments in prime districts in 2009. Official data for the fourth quarter of 2008 showed that the prices of non-landed private homes in high-end districts (including District 9, 10 and 11) plunged by 14% on...
Continue Reading • 20 Oct 2009
New risks for Singapore’s property market
Ernst & Young (E&Y) says real estate companies in Singapore face new and increasing risks during the slump of global economy.“The credit crunch, fluctuations in global economies and resultant pricing uncertainty are affecting real estate companies globally, including those in...
Continue Reading • 20 Oct 2009
New, low-priced condos get brisk sales
Although the property market experiences a decline nowadays, there are still new private properties being seized quickly in the market. Last month, the sales of these new private residences increased to 1,323 units, recalling back the days when the property market went boom, according to...
Continue Reading • 20 Oct 2009
Mortgagee sales expects to increase
When financial institutions put up some of the repossessed homes on sale, it triggers to increase in coming monthsAccording to Colliers International, auction market is still low but shows signs of increase for this month, and the rise of mortgagee sales are small but may affect the impending...
Continue Reading • 20 Oct 2009
60 units in The Arte at Thomson sold
Around 60 apartments were sold the previous weekend by the City Developments Ltd (CDL) at The Arte at Thomson.Units at the 336-unit project went to an average price of $880 per square foot (psf), according to the developer the previous day. CDL also launched 100 units during the “private...
Continue Reading • 20 Oct 2009
15% rental rebate offered by NParks
A 15 percent rental rebate has been put forward by another government body to its tenants.The Straits Times was informed by the National Parks Board (NParks) that this approach is intended to assists its tenants to get by during these poor economic times.The rental rebate is set to be backdated...
Continue Reading • 20 Oct 2009
Perceived buys in the market
In the middle of the economic decline, the housing market landscape has varied as developers reduced the unit size and give steeper discounts to attract conservative buyers while several banks reduced credit.The segment of mass market has showed to be less unstable than residences situated in the...
Continue Reading • 20 Oct 2009
Gems sifting
There is nothing like a peaceful estate market to begin searching for a dream residence. Or to start searching on purchasing that property which can turn into an income stream to assist an individual through the golden years. With appealing loan packages provided by several banks and interest...
Continue Reading • 20 Oct 2009
Fall in property investment sales recorded 10-year low
The property investment sales last seen in 1998 have fallen to great levels, recording a 10-year low.The total investment sales have yet totalled to $184.6 million during the Q1 of 2009, says CB Richard Ellis. The quarterly investment sales the last time recorded to be lower, which in the first...
Continue Reading • 20 Oct 2009
98% drop in property investment sales
SINGAPORE – Property investment sales have plunged since the start of the year, and could get even worst.CB Richard Ellis (CBRE)’s latest figures show that sales to this point have only reached $184.6 million. This is a 98 percent drop on the same period for the past year and a 56.4...
Continue Reading • 20 Oct 2009