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Singapore Real Estate Market Review May 2008
real estate market review may 2008 Download this article
Introduction - monthly real estate market update in May 2008
May 2008 was without incident, a month that the same old story of "uncertainties in the global financial market" has been replayed again and again. Buyers continue to adopt the "wait and see 'attitude so that developers continue to hamper the spear. In anticipation of a new market impetus and direction, the market seems ready to sink into oblivion in June 2008.
The table below shows the weak performance on the market in the last 3 months.
Table [1] - Sales performance of private homes during the last three months [All sales refer to non-landed properties]
Months |
Number of Transactions [via caveats lodged] |
Total |
|
New home market |
Secondary market |
||
May 2008 |
85 |
455 |
540 |
April 2008 |
226 |
824 |
1,050 |
March 2008 |
126 |
765 |
891 |
Source of info - SISVREALINK
-
Included In Updated monthly
(A) The uncertainty prevailing in the biggest market
(A.1) Singapore economy faces the triple threat
(A.2) Regional instability May impact on Singapore property market
(A.3) PM Lee said slowdown extend to May next year, but disagree MAS
(A.4) Financial partners "to take on the crisis over the USA
(A.5) A quick look at the aftermath of the sub-prime mortgage crisis
(A.6) A new world order has created new rich
(B) Private property sales in Singapore
(B.1) developers are more financing costs
(B.2) price correction for private homes seems to be on the map
(B3) A number of high profile transactions of luxury houses
(B.4) Singapore luxury homes ninth most expensive globally
(C) non-residential property and rental market
(C.1) Sales of office couches, May fall further
(C.2) Rental continue to hold up
(C.3) Sale of NTUC Income Beach Road property looked very
(C.4) real estate investment trust (REIT) market May see M & A or privatization
(D) Information on the sales block
(D.1) Developers arrivals rather than building new projects on sites to block
(E) foreign interests in commercial buildings in Singapore
(E.1) Beach Road building sold for $ 70 million
(E.2) JLL reinstate housing project sales business
(F) Information on the GLS programme
(F.1) plot ratio increases unnecessary for now
(G) Analysis of resale HDB
(G.1) sign of resistance found in HDB rental market
(G.2) resale HDB apartments in May 2008
(G.3) Case study quotes transactions E-flats in Tampines over the past 5 months
(A) The uncertainty prevailing in the biggest market
(A.1) Singapore economy faces the triple threat
The Ministry of Commerce and Industry (MTI) has recently expressed concern that the economy faces a threat from three areas, ie the higher inflation, slower growth and weak exports.
Rising global oil and food prices will have a significant impact on inflation of Singapore while the economic crisis of Singapore 's major export markets like the USA and Europe will have an impact on our exports and growth. At the time of this report, oil prices were hovering between U.S. $ 120 and $ 124 U.S. per barrel.
Accordingly, Malaysia and the Indonesian government took drastic measures to reduce subsidies on gasoline prices, causing prices at the pump to turn in both countries. In the case of Malaysia, the increase in prices at the pump is a high 40%.
As it is, the risk of inflation in Singapore has exceeded slowdown in growth that the main concern for the government. The MTI has maintained its economic growth forecasts for this year to 4% to 6%.
(A.2) Regional instability May impact on Singapore property market
The Malaysian government has suddenly announced a 40% increase in pump prices, triggering widespread unhappiness. Previously, the Indonesian government also withdrew state subsidies on gasoline prices, causing massive student protests. The chain of events is important to Singapore property market that citizens of the two neighbours in the region, make up just over 40% of the total number of foreign buyers of Singapore real estate, particularly in the high-end property segment.
The current concern in May to develop large-scale movements against the government in May that even overthrow a government - as well as the situation in 1998 when President Suharto was sidelined amid widespread unrest. What follows is usually a period of great uncertainty and violence that impedes the free flow of investment money in Singapore. At the rate oil prices are increasing, the likelihood of the "worst scenario" can not be ignored.
(A.3) PM Lee said slowdown extend to May next year, but disagree MAS
As a first step, Prime Minister Lee Hsien Loong seemed rather pessimistic about the immediate economic outlook. But three weeks later, because of the central bank of Singapore, the Monetary Authority of Singapore (MAS) issued a statement saying optimistic that the "slowdown" is probably not significant
The central bank has insisted that there was robust growth in both the domestic and offshore banking segments. Loans from commercial banks continued to record strong growth, with strong gains in most non-bank customers, particularly building and construction. Also looking pink is the management of assets and loans from domestic sector.
But private analysts are more cautious, saying that if the crisis is not resolved soon, even these sectors will be affected.
PM Lee sees the slowdown in economic momentum in coming quarters that the U.S. economy struggled to stay above the water troubled sub-prime mortgage problems.
However, PM Lee acknowledged that what happens in the USA slowdown in the economy, the impact on the Singapore economy will be uneven. He stressed that the construction, marine engineering, ports and shipyards will be 'straight', but tourism, financial services and information technology May not be as lucky.
Differences between PM Lee's and MAS 'best summarized the current uncertainties in the market.
(A.4) Financial partners "to take on the crisis over the USA
The partners were recently given their opinion on the situation of the USA.
George Soros
George Soros believes that the 'acute phase 'of the financial crisis is 'largely behind us', even though the U.S. economy is only now beginning to feel the effect.
The damage caused to the global financial system must affect the real economy, but the effect of this is only beginning to be felt as there is a lag in time.
Jim Rogers
In addition, the famed investor Jim Rogers warned that the crisis credit 'isn 't midterm it May and be more write-offs in Europe and Asia banks.
He added that given the magnitude of the credit bubble burst, it would likely take years to 'clean '.
Alan Greenspan
Previously, Mr. Greenspan doubt there would be an immediate recovery, saying stagnation for the rest of the year was the most likely outcome. The economy is not running around the house until prices started Regulation and relieved the pressure on finance companies to deduct mortgage losses.
Warren Buffett
Partner of investing, Warren Buffett said that the USA is already in a recession, but the structure of the decline does not conform to the traditional definition of an economic recession is two consecutive quarters of negative growth.
He added that this recession will be longer and deeper than what many people expect.
(A.5) A quick look at the aftermath of the sub-prime mortgage crisis
There was a widespread belief that the impact of the sub-prime mortgage crisis is not yet at its most difficult and the worst is yet to come.
The summaries below to shed light on the impact of the crisis [for those who are interested in the details, they are in Appendix A]:
(a) |
First, the foreclosure rates in the USA are still at its highest and will continue to pose a great danger for the U.S. economy. [Annex A.1] |
(b) |
Big banks such as UBS Citi and unloading are either active or lay off staff to cut costs. [Annex A.2 and A.3] |
(c) |
Investors are staying away from USA real estate. |
(d) |
Perhaps the most serious of all, large banks are concealing their losses in the books. [Annex A.5] |
(A.6) A new world order creates the nouveaux riches
A joint study conducted recently by the Citigroup and international property consultants Knight Frank assured that the soaring prices of natural energy and food have created many multi-billionaires in spite of the current credit. And the good news is: they buy more goods in different continents.
The report ranks fortunate in four categories - those of U.S. $ 1 million to $ 10 million, U.S. $ 10 million to U.S. $ 100 million U.S. $ 100 million to $ 1 billion and more than U.S. $ 1 billion.
The study revealed that 15.7% of entry level to high net worth individuals own or four other houses. A notch above, 23.3% of those who have U.S. $ 10 million to U.S. $ 100 million of wealth that many own homes. As wealth increases, more people own homes, with 31.5% in the third category and 60% of the richest owners category or four other houses.
(B) Private property sales in Singapore
(B.1) developers are more financing costs
Banks are lending less the value of new projects. Before the USA sub-prime mortgage crisis has erupted, property companies in Asia could borrow a gap of less than 100 basis points or one percentage point above rates on interbank lending. But banks are now quoting 200, 300 and for some small developers they are listed 400 basis points in margins.
This means that developers will have to pay higher interest rates on loans.
(B.2) price correction for private homes seems to be on the map
Pessimism economist at Barclays Capital believe that this is the beginning of a multi-year correction in prices. He believes that the private sector residential property prices could easily drop to 30% by 2010.
A property examination carried out by Credit Suisse in May 2008 has seen rents and property prices fall even stronger by nearly 40%, and reduced its investment recommendation for the sector 'underweight '.
[More details in Annex B]
(B3) A number of high profile transactions of luxury properties - a sign of things to come?
There is some good news in the high-end market in May 2008. There have been high-level transactions in the high-end segment May signal the end of the drought, and here are the numbers:
Four bungalows near the avenue Eng Neo were sold for $ 5.5 million each for a glimpse on May 9. The $ 22 million transaction amounts to $ 1128 ft of built-up area.
A penthouse in La Grange was sold for 11 million recently.
The first high-end condo project, Nassim Park Residence, which was published this year has achieved good supports from buyers who snapped up 38 units [on 100]. The prestigious project in the field Nassim would have a huge bag of $ 10 million or more for each apartment. Each unit is regarded as the rising price of $ 3000 feet.
(B.6) Singapore luxury homes ninth most expensive globally
At about U.S. $ 2423 per square foot, luxury homes in Singapore are the second most expensive in Asia and the ninth most expensive in the world.
At U.S. $ 4507 pi, high-end apartments in Hong Kong are the most expensive in Asia, while London is the most expensive place on earth to own a luxury residence to an average of U.S. $ 6191 feet.
(C) non-residential properties and the rental market
(C.1) Sales of office couches, May fall further
With only eleven operations, sales of napkin-titled offices have declined significantly in 2008 so far. While prices are holding up for now, there are tell-tale signs suggest that prices may begin to ease in the coming months. For example, International Plaza, the average price of units sold in January to March 2008 was for $ 1,375 square feet (PSF), down from $ 1,449 ft during the previous quarter.
The slowdown of the treaty despite a shortage of office supplies, which helped boost sales and prices of strata office record levels last year. Some $ 1.7 billion office has changed hands last year.
(C.2) Rental continue to hold up
A tell-tale sign that the rental market is still in place is the recent operation arrivals Seletar nearby airbases. Rents have almost doubled to 131 units that remain intact in the former airbase Seletar after the region was assigned to a redevelopment aerospace centre in 2018.
Of the 378 houses Seletar, 131 will be retained as homes and, hence, the location of these homes have skyrocketed. In such a case, a two-storey terrace house recently attracted a bid of $ 5000 - more than three times the guide rent of $ 1500 set by the Singapore Land Authority (SLA).
Across the country, rental rates have jumped by 69% between the first quarter of 2006 and first quarter of this year.
(C.3) Sale of NTUC Income Beach Road property very popular on the market via lull
NTUC Income is the sale Beach Junction, a small 999-years lease commercial real estate in Beach Road which could fetch around $ 24 million to 26 million dollars.
Other new investors or owner-occupants will also be able to give the construction of a new name.
The six-storey development is a laudable net area of approximately 19000 square feet and is fully tenanted. It is expected to worth about $ 1300 to $ 1400 feet. Many analysts are watching closely as a gauge of sentiment in the property market.
(C.4) Real Estate Investment Trust (REIT) market May see M & A or privatization
As the market for property trusts listed in Singapore matures, analysts predict that some will merge or private. One analyst went so far as to say that there are three to five REITs in Singapore that seem obvious for acquisitions or privatization.
One of the reasons why consolidation has not happened is that private equity fund, which could contribute to some of these transactions could be "all cashed " given the overall pressure on credit .
(D) News on the block sale
There was no new block projects being introduced on the market.
D.1) Developers arrivals rather than building new projects on sites to block
Because of the weak market, some developers have decided to run at the lull by setting up a block sites they have already acquired on the market for rental income, rather than launching the sale.
This is another proof that developers feel the pinch of the current weakness and improvisation are in the meantime.
(E) foreign interests in commercial buildings in Singapore
Foreign underlying confidence in the success of Singapore, foreign funds are still the acquisition of commercial properties in Singapore. In addition, one international consultant has restored his agency arm and reposition itself in the new market segment at home because he sees the potential in new home sales market in the mid-term.
(E.1) Beach Rd building sold for $ 70 million
An Irish private equity firm and the famous International Interior Design firm Hirsch Bedner Associates bought in town Lofts at 700 Beach Road for 70 million dollars. Another $ 3.5 million will be invested to upgrade eight floors in a boutique office building and renamed 700 Beach.
The building is situated between the Golden Mile Tower and Golden Mile complex and has 8,500 to 12,000 square feet floor plates and when the renovation will be completed in August this year.
(E.2) JLL reinstate housing project sales business
After seven years of absence of new market sales at home, Jones Lang LaSalle (JLL) has re-entered the market and get the stalled market Floridian, a 336-unit condo in full development at Bukit Timah in the Far East Organization and Wing Tai Holdings and Lippo 's Centennia Suites at Kim Seng Road. It is also marketing 34 units completed 99 years leasehold Amaryllis City condo in Newton on behalf of Goodearth Hotel Group of Australia.
A spokesman JLL said that the company sees huge increase for the new home of the private market to be brought by a dynamic and brilliant economic perspective with many world events in Singapore convergence in the short and medium term.
(F) New on the sale of land by the government (GLS) Program
(F.1) plot ratio increases unnecessary for now
Minister for National Development Mah Bow Tan said that the Government has no plans to increase the rate of ground despite the projected increase of population to 6.5 million people in the long term.
In fact, the new master plan a plan least 208 homes. It allows for 327,200 new dwellings in Singapore. Considering that the previous plan, MP 2003, enabled 371000 households, 13.4% higher than MP 2008.
URA added: "In the medium term, around 350000 housing units is comfortable, reasonable number for the safeguarding of land, which still allows some flexibility to meet market demand. The two MP 2003 and MP 2008 have saved on 350000 housing units. '
An additional 900 hectares of land added to the park space in 2008 MP suggests Singapore will not be crowded out soon.
(G) Information on the HDB resale market
The HDB resale market was relatively quiet month with only 2179 transactions, compared to 2339 transactions in the previous month. Likewise, prices of transactions have also plunged [see comparative study on Executive Apartments in Tampines past five months G.3].
Table [2] - Comparison of total monthly HDB resale transactions from January to May 2008
|
3-room |
4-room |
5-room |
E-Flats |
Total |
May 2008 |
638 |
816 |
544 |
181 |
2,179 |
April 2008 |
664 |
909 |
602 |
164 |
2,339 |
March 2008 |
613 |
806 |
569 |
162 |
2,150 |
February 2008 |
635 |
768 |
495 |
146 |
2,044 |
January 2008 |
680 |
837 |
597 |
192 |
2,306 |
Source of info – HDB inforweb
(G.1) sign of resistance found in HDB rental market
Although rents are HDB flats because of the impact on the private market demand, property analysts do not expect to increase the price much further.
Rents for some executive apartments in Queenstown were as high as $ 2900 per month, a price above that of private apartments.
An analyst quipped, however, that while demand will continue to increase mainly because of the continuous influx of foreign talent, especially with the next casino and international events such as Formula One, arrivals are not likely to increase as compared to the levels today because there are already signs of resistance.
(G.2) resale HDB apartments in May 2008
Below shows the latest HDB resale in May 2008 and the figures can be compared with previous months "to evaluate transactions in the market climate.
Table [3] - Total HDB resale in May 2008
3-room |
4-room |
5-room |
E-Flats |
Total |
|
Ang Mo Kio | 60 |
24 |
10 |
1 |
95 |
Bedok | 69 |
35 |
16 |
6 |
126 |
Bishan | 7 |
24 |
12 |
8 |
51 |
Bt Batok | 38 |
41 |
9 |
5 |
93 |
Bt Merah | 40 |
25 |
13 |
0 |
78 |
Bt Panjang | 6 |
37 |
17 |
10 |
70 |
Bt Timah | 2 |
4 |
4 |
2 |
12 |
Central Area | 13 |
4 |
0 |
0 |
17 |
Choa Chu Kang | 5 |
57 |
35 |
8 |
105 |
Clementi | 28 |
14 |
7 |
1 |
50 |
Geylang/Aljunied | 28 |
9 |
6 |
3 |
46 |
Hougang | 30 |
53 |
26 |
18 |
127 |
Jurong East | 11 |
11 |
18 |
8 |
48 |
Jurong West | 38 |
71 |
55 |
15 |
179 |
Kallang Whampoa | 29 |
20 |
11 |
3 |
63 |
Marine Parade | 11 |
7 |
11 |
0 |
29 |
Pasir Ris | 1 |
19 |
27 |
18 |
65 |
Punggol | 0 |
19 |
29 |
1 |
49 |
Queenstown | 56 |
16 |
4 |
1 |
77 |
Sembawang | 0 |
31 |
25 |
6 |
62 |
Sengkang | 0 |
42 |
57 |
6 |
105 |
Serangoon | 8 |
19 |
17 |
7 |
51 |
Tampines | 36 |
61 |
30 |
17 |
144 |
Toa Payoh | 43 |
25 |
15 |
5 |
88 |
Woodlands | 25 |
94 |
70 |
23 |
212 |
Yishun | 54 |
54 |
20 |
9 |
137 |
Total | 638 |
816 |
544 |
181 |
2179 |
Source of info - HDB inforweb
(G.3) Case study quotes transactions E-flats in Tampines over the past 5 months
A thin slice of transactions was taken from the past 5 months of transactions in e-flat in Tampines for comparison. It is clear that the price of transactions E-flats have increased since the beginning of the year, reached a peak in March 2008 and began its decline from April 2008. The decline has been very important in May in the highest price category, which suggests that buyers in general are not willing to pay more for older apartments.
Table [4] - Comparison of Tampines E-Flat price of the transaction in March 2008 - May 2008
Months | Lowest |
Median |
Highest |
Total transactions |
January |
388 |
435 |
520 |
16 |
February |
420 |
445 |
570 |
12 |
March |
400 |
472 |
595 |
10 |
April |
357 |
475 |
580 |
23 |
May |
387 |
460 |
485 |
16 |
Source of info – HDB inforweb
Annex A
News articles related to the impact of USA sub-prime mortgage crisis
(A.1) high rate of foreclosure of evil large economy: Bernanke
President of the Federal Reserve Ben Bernanke warned that the increase in late mortgage payments and home foreclosures poses dangers for the U.S. economy and wants Congress to take action.
Nearly 1.5 million U.S. homes entered the foreclosure process last year, up 53% compared to 2006 and the rate of new foreclosures seems likely to be even higher this year.
The current housing crisis has left with mortgages that are bigger than the value of their homes. When 'is the main problem, Mr. Bernanke said that the best solution in May reducing the amount that the borrower must on the loan or another permanent change in the loan.
(A.2) Citi to sell at $ 550b asset value
Citigroup plans to offload U.S. $ 400 billion (S $ 550 billion) of assets - 20% of its total - over the next two to three years for reasons of efficiency and profitability in the wake of the crisis credit.
Its CEO, Vikram Pandit said it cut its 500 billion dollar 'legacy assets ", which includes real estate, leveraged commitments, sub-prime collateralised debt obligations and structured investment vehicles less 100 billion dollars in two to three years. He adds that it will be orderly and expects to see U.S. $ 15 billion in 're-engineering benefits 'from the restructuring.
Since December last year, Citi began actively restructuring and downsizing of the company and all these sales could raise billions of dollars for Citi at a time when the bank is feverishly raising capital. However, this process is spooking many analysts ahead with scepticism that assignment could be a sign that the losses are more to be revealed.
(A.3) UBS is the layoffs to reduce costs
Swiss bank UBS announced in early May it would cut another 5,500 jobs above the 1,500 staff already planned to get rid of by the end of last year, these redundancies will be mainly in Britain and the USA.
Of the anticipated reductions until 2600 will arm its investment bank, which is the culprit behind the cumulative reductions of U.S. $ 37.4 billion (S $ 51.1 billion) the bank has done since last July.
(A.4) U.S. withdrawal project hit by many buyers Singapore
The decline in the local real estate market sentiment is now affecting overseas investment targets.
Two-thirds of buyers of Singapore fell by their purchases of shares on the well-hyped Chicago Spire the USA. When it was launched in Singapore in early March, nearly 40 buyers have placed their reserves, but more than 20 changed his mind after the USA sub-prime crisis has threatened to take a turn for the worse in the weeks following the launch.
An analyst quipped that he doesn 't make sense to buy and hold properties on the USA there is still sub-prime problems.
The 150-story Chicago Spire is touted as the world 's highest condo, and enjoys a unique spiral-shaped design.
As there is a cooling-off period which is a common practice in the USA housing sales, buyers who withdraw from the cartel has effectively a full refund of their booking fees.
(A.5) Banks U.S. $ 48 ter camouflaged in reductions
The USA regulatory authority has found that banks and securities firms, suffering unprecedented losses from the collapse of the mortgage securities market, are camouflage at least U.S. $ 35 billion (S $ 48.3 billion) write new reductions in their balance sheets.
Citigroup and ING have been found to be under-declare their losses in their quarterly report to the Securities and Exchange Commission.
The addition of U.S. $ 35 billion leaves the banks with a U.S. $ 116 billion losses mountain to climb.
The toll adjustments are more than U.S. $ 344 billion of depreciation and credit losses already reported on income statements of more than 100 banks.
These companies have raised U.S. $ 263 billion sovereign wealth funds, their own governments and public investors to land, capital. The toll reductions also reduce equity, which must be reconstituted.
Taking losses on stock instead of an income statement is acceptable under accounting rules, which make a distinction between the so-called trade books and long-term investment.
But observers say that maintaining these markdowns income statements just delays the realization of losses.
Annex B
Singapore developers risk of higher borrowing and lower profits
In addition, an analysis of the real estate market carried out by BNP Paribas identified the high financial risks borne by small developers, including Bukit Sembawang, Low Keng Huat and Lian Beng.
The report stresses that these developers have almost all their debts due within a year. The bank believes that even major manufacturers such as Allgreen, Keppel Land and GuocoLand could face difficulties after the sharp decline in earnings during the last quarter, they launch fewer projects.
This situation has accentuated the developers 'debt / equity to dangerous levels above 70%, higher than the industry average of about 62%.
In this regard, JPMorgan has identified three developers, namely Allgreen, GuocoLand and Keppel Land, who could face some pressure on cash flow that their debt-equity could be pushed up to a very dangerous level of 80% and 130%.
Speculators have bought properties with little cash advance before the deferred payment scheme was scraped May last October need to have about 700 units at a discount this year and another 2,000 next year, as the properties nearing completion and payments are due. And this will increase the risk of developers.
On the contrary, some "big guns" developers are still hoping that the fall May be temporary and clinging to the theory that there was always a cycle of seven years. Their wisdom comes from the arrivals of foreign investment as Singapore sees the completion of two casino projects and the influx of major events such as Formula One racing and the Youth Olympics in the coming years.
However, partners are looking at the numbers that tell a story very different.
Annex C
How to respond to difficult issues using the latest market information
First part: "How's the market?"
Customer |
Tell me Sam, how the market now? |
Agent |
The economic fundamentals are still good, except that the housing market is a little erratic because of problems with the USA. But here in Singapore, prices are still firmly in place. |
Customer |
In your opinion, should I sell my property? |
Agent |
May I know why you want to sell? As I just said, property prices are still in place in Singapore. Do you intend to take profits, the upgrade to a larger property or demotion? |
Customers |
I want to cash out. What is your opinion? |
Agent |
If you want cash, my advice is to cash now or you'll be caught in a race where everyone wants to take advantage shortly before the casino is completed. But where do you live? |
Customers |
I'll rent a place first and wait for the market to cool. Do you think this is a good idea? |
Agent |
I never advocate rentals, as there is no difference to help the landlord to get richer by paying his mortgage. I do not think this is a good idea to go without a course that you'll be eaten alive by this monster called "hyper-inflation." At the end of the day, whatever money you hold in your hand will decrease in value. |
Customers |
So what do you suggest I do? |
Agent |
You'll have to pick a winner - a property that does not diminish in value as much, even in recession You should choose a unit in such a project more marketable and to change now, when prices are still high for your next sale and purchase of a "winner" and let inflation take care assessment capital in the medium term.
|
Part Two: “Should I Sell now?”
Customer |
Tell me Sam, do you think I should sell my property? |
Agent |
Why do you want to sell? The rental value of your property is still good. |
Customer |
But I am living in the house [I'm not hiring], how the advantage of location? |
Agent |
Oh, no sir. The rent is the capital where the value of your property comes from [even if you're not for rent]. You see, sir, if your project [succession or block] is to attract good rental value, and when you put up your property for sale, investors to buy because they can enjoy a good return on their investment. |
Customers |
How does it work for an investor? |
Agent |
For example, if you sell your house for $ 1 million to an investor and the annual rental income is $ 60000, this means that the investor receives a return of 6%. Banks can not afford this kind of great interest today. Even if you are under other costs of ownership, the return rate is still higher than the interest rates offered by banks today. |
Customers |
So what do you suggest I do? |
Agent |
If you are going to monetize your investment, I can find a good tenant and reliable for you and ensure that the monthly rent payment is fast. But if you really want to sell, I suggest you find a replacement home for the moment and I can help you choose a "winner". In this period of uncertainty, you must choose the "winner" will not diminish as value, even in a recession.
|
Buy, Sell, Rent, Invest, In Singapore
Billy Chen
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Tel: (+65) 88689999
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