Property News & Market Trends

Is the sub-prime financial breakdown in US giving us a warning?

Stocks bore the brunt of it all, banks, especially. In US & Europe, fears of the sub-prime markets sent sirens the world over. Asia, at its strongest growth was not spared. Miraculously, Singapore escaped the massacre. No doubt it fall by almost 4% in a day, confidence in our economy regain some ground from the bears.

Then again, will this affect our heated property market? This is a scary situation. If it deters speculators, price increases may be stalled a little. That's a good thing, in the long run. But if genuine buyers start to sideline, and sellers(investors) start to throw excess baggage in panic selldown, then it's bad.

In March, I wrote about the worrying housing market in US. I was hoping it will not spread to Asia so fast. Unfortunately, the potential US$2.6trillion high risk debt is like a tsunami. It hits Europe & Asia without warning. Hopefully, the more than US$300billion of cash injected to banks heavily invested in the CDO(collatorised debt obligations) will clam the tide.

Regardless of such worrying signs, serious buyers should continue your purchase and speculators, hold your shots. It's time to let the market take a breather and bring senses back to genuine sellers at realistic prices. Frankly, nobody knows where the prices are heading at this point. Will it go up? Or will the market fall? That's for the speculators to gamble on.

Buyers should do their homework, if not engage a professional agent. With all the databases and network, they can do a better job. Sellers, on the other hand, should look at what you want to achiece realistically. If you're just putting out your property to test the market with no intention of selling, keep it. It's unethical to dangle the carrot and waste the resources of a keen agent.

However, if you're serious in selling, don't expect to sell at the highest price possible. It's impossible. Even veteran developers, with their wealth of statistics, experience and expertise from dozens of consultants, don't really know the highest price they can sell, how can any seller? That goes to buyers, as well.

Instead, concentrate on what you want to achieve. Once the market reaches your price, sell it. Then again, can you predict where the market is heading? I doubt so. Even our beloved government can't dictate what will happen to the world. So, just stay focus on why you want to sell or buy? - Danny 'Bingo'

More ...

	Happy New Year yet again - How happy? It's a sad occassion for many, in fact. Firstly, for every owner who managed to sell beyond expectations, there were at least 7 who failed to sell at all. From Oct - Dec, transactions had dampened so much, many veteran Agents ponder if it's the sub-prime that spooked the buyers even after the ghost ... 1 Jan 2008 - Read Details
	Merry X'mas & a joyous New Year! Seasons greetings to all! What a year we had in 2007! It's been a long time since I wrote and it's gooood to be back! Interestingly enough, I should end this chapter in 2007 and begin a new series for 2008. 2007 had been both an exciting yet challenging year for the real estate industry. The ... 31 Dec 2007 - Read Details
	How do you define "Trading" in property investment? Recently, the High Court accept a "Fengshui" appeal but reject the "Tenant" problem situation for taxing a couple's property investment.  This is a public awareness drive by the Taxman to 'highlight" the many property speculators, option traders that "trading" properties for profit IS taxable, ... 12 Sep 2007 - Read Details
	Property sales & enquiries seem to slow more than expected Buyers seem to be grinning the days. With the Sub-prime fears tailing off, the unwelcome news of the mammoth increase in Development Charges or the new rules for en bloc sales, the frenzy has literally disappeared. Thanks to the massive exodus of speculators & option-traders. Though buyers ... 3 Sep 2007 - Read Details
	Where have the buyers gone? It's really mystifying. In the first week of July, a 3cm display ad in ST Classifieds would get hordes of enquiries. In fact, we recorded more than 50 calls for 8 projects we placed out. You can feel the adrenlain flowing. If you're a seller or an agent, you'll feel esctatic. You may change your min ... 15 Aug 2007 - Read Details
	Can the Government's hike on Development Charge stem the rise of En Bloc sales? Property stocks got hit by a 2% drop. I say you should buy them. Seriously, what the Government did by introducing a back to normal DC is basically a gear shift. It will not impact any big developers as they can easily pass the buck, about an increase of 2-3% of the cost to the end buyers. ... 20 Jul 2007 - Read Details
	Do you know the current supplies of properties? We know about caveats(property sold & price) but who knows the supplies, really? The government will always supply back-dated figures of new project sales, office vacancy but not the number of residential properties on the market. Is that important? If so, why is there no such mechanism in place ... 13 Jul 2007 - Read Details
	Speculators, take heed. The Government is monitoring closely. The last time the Government is a "little bit" concern, anti-speculation was introduced within 5 months in 1996. Though illy-timed, the market make a very sudden correction and history was made. Will it happen again? Unlikely. The last correction wipe off billions of dollars worth of assets of ... 3 Jul 2007 - Read Details
	Singapore property news in a nutshell Dreadful envy for Horizon Towers if Grangeford goes for $592m!Still unclear on who the final winner is over Horizon Tower surely make some people loses sleep the last 2 weeks. OUE, controlled by Lippo, went for a put-and-call option to acquire The Grangeford for $592 million or $1,810psf. The breake ... 26 Jun 2007 - Read Details
	Singapore property news in a nutshell Dark clouds over Horizon Towers deal for HPL or Owners?Horizon Towers condominium $500m deal could be off if the objectors have it their way. However, the Strata Titles Board brought the hearing forward after an appeal to stop the delay. The date for the tribunal to hear the objectors to the sale wa ... 21 Jun 2007 - Read Details