Live in the heart of it all

Step into a world that bings you the beat of waterfront living. Live and be seen at the centre of it all - Tribeca by the waterfront.

Imagine your own private oasis in the heart of the city. A lush paradise inspired by clean lines and distinctive facade, realizing a perfect blend of modernity and natural serenity. A magnificient freehold property, Tribeca by the waterfront offers you the opportunity to experience riverside living at its finest. Here, the choices are always yours to make - bask in the peaceful sanctity of modern refinement and pristine greenery, or move to the rhythm and pulse of the city.

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Current major projects

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Speculators a minority as they shoot for small flipping gains

By EMILYN YAP

This brings to mind the government’s warning last week - that some element of speculation is back in the property market. Industry watchers say, however, that subsales are common for fully sold projects and speculation still remains mild.According to industry watchers, sellers in the subsale market need to charge a premium of at least 5 per cent to break even. This would cover stamp duty, legal fees and any agent’s commission. To earn more, some may set prices which are up to 10 per cent more than what they paid.

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SAVILLS Singapore has launched for sale two residential properties - the freehold No 3 Balmoral Road with an indicative price of $65 million; and an 86,402 square foot plot at No 162 Tagore Avenue, within the Teachers Housing Estate, with an indicative price of $15 million. The latter is being sold on a 99-year leasehold tenure by the Singapore Teachers’ Union, which holds the freehold interest in the property.No 3 Balmoral Road currently comprises a development of 11 apartments, all leased out, but Savills is marketing the property for its redevelopment potential. The property is owned by an investment company and has a land area of 23,821 sq ft, a permissible plot ratio (ratio of maximum gross floor area to land area) of 1.6 and a height restriction of 12 storeys.

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(SINGAPORE) A plunge in Grade A office rents has raised Singapore’s competitive edge somewhat. According to Colliers International, office occupancy costs here were the fourth-highest among 26 Asia-Pacific cities in Q2 this year - down a notch from a quarter ago.

As rents stay weak while the economy stabilises, property consultants also expect some companies to take advantage of the situation to expand.

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By UMA SHANKARI

However, rents in ‘other city areas’ fell more in Q2 than Q1, partly due to new supply that will be completed in the second half of 2009. Prime first-storey rents declined 3.1 per cent to $25.40 psf pm in Q2, more than the previous quarter’s fall of 2.2 per cent. 1.3 million sq ft or 56 per cent of new retail space that will be completed in the rest of the year will be in ‘other city areas’, DTZ estimates.

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12.8% increase in average price of 2-bedroom units; firm expects full-year primary market sales to top 2006 figure of 11,147 units

 By KALPANA RASHIWALA

But DTZ considers the Q2 price gain a blip supported by buyers’ fears of missing the bottom, pent-up demand and low interest rates - rather than economic fundamentals.

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Live in the heart of it all

Step into a world that bings you the beat of waterfront living. Live and be seen at the centre of it all - Tribeca by the waterfront.

Imagine your own private oasis in the heart of the city. A lush paradise inspired by clean lines and distinctive facade, realizing a perfect blend of modernity and natural serenity. A magnificient freehold property, Tribeca by the waterfront offers you the opportunity to experience riverside living at its finest. Here, the choices are always yours to make - bask in the peaceful sanctity of modern refinement and pristine greenery, or move to the rhythm and pulse of the city.

• 0 Comments

Current major projects

• 0 Comments

Speculators a minority as they shoot for small flipping gains

By EMILYN YAP

This brings to mind the government’s warning last week - that some element of speculation is back in the property market. Industry watchers say, however, that subsales are common for fully sold projects and speculation still remains mild.According to industry watchers, sellers in the subsale market need to charge a premium of at least 5 per cent to break even. This would cover stamp duty, legal fees and any agent’s commission. To earn more, some may set prices which are up to 10 per cent more than what they paid.

• 0 Comments

SAVILLS Singapore has launched for sale two residential properties - the freehold No 3 Balmoral Road with an indicative price of $65 million; and an 86,402 square foot plot at No 162 Tagore Avenue, within the Teachers Housing Estate, with an indicative price of $15 million. The latter is being sold on a 99-year leasehold tenure by the Singapore Teachers’ Union, which holds the freehold interest in the property.No 3 Balmoral Road currently comprises a development of 11 apartments, all leased out, but Savills is marketing the property for its redevelopment potential. The property is owned by an investment company and has a land area of 23,821 sq ft, a permissible plot ratio (ratio of maximum gross floor area to land area) of 1.6 and a height restriction of 12 storeys.

• 0 Comments

(SINGAPORE) A plunge in Grade A office rents has raised Singapore’s competitive edge somewhat. According to Colliers International, office occupancy costs here were the fourth-highest among 26 Asia-Pacific cities in Q2 this year - down a notch from a quarter ago.

As rents stay weak while the economy stabilises, property consultants also expect some companies to take advantage of the situation to expand.

• 0 Comments

By UMA SHANKARI

However, rents in ‘other city areas’ fell more in Q2 than Q1, partly due to new supply that will be completed in the second half of 2009. Prime first-storey rents declined 3.1 per cent to $25.40 psf pm in Q2, more than the previous quarter’s fall of 2.2 per cent. 1.3 million sq ft or 56 per cent of new retail space that will be completed in the rest of the year will be in ‘other city areas’, DTZ estimates.

• 0 Comments

12.8% increase in average price of 2-bedroom units; firm expects full-year primary market sales to top 2006 figure of 11,147 units

 By KALPANA RASHIWALA

But DTZ considers the Q2 price gain a blip supported by buyers’ fears of missing the bottom, pent-up demand and low interest rates - rather than economic fundamentals.

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Rare Spacious Nature Enclosed Condominium with Build In area of 2024 sqft with Large Balcony and Pool View,
3+1 Bedrooms with Attached Private Toilets (Walk-In Toilet in Master Bed Room)
Fully Furnished in Victorian Design and Marble Flooring

Full condo facilities –
1.) Mini Golf Course
2.) Tennis Court,
3.) Swimming Pool,
4.) Street Soccer Court,
5.) Badminton Court
6.) Squash Court,
7.) Gym,
8.) Playground,
9.) Barbeque Pits,
10.) Table Tennis,
11.) Children’s Play Room,
12.) Mini Mart(Mini Supermarket)
13.) Large Beautiful Lush Green Landscape With Jogging Track

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Inaction may stem from his view of reputation as a built-in safeguard of free enterprise.

Why did Alan Greenspan fail to act while the roots of the sub-prime mortgage crisis spread? Here’s one possible explanation: The Ayn Rand disciple held fast to his unwavering laissez-faire beliefs.

Mr Greenspan: ‘A fly-by-night securities operator can quickly meet all the SEC requirements, gain the inference of respectability, and proceed to fleece the public.’

Tuesday’s New York Times carried a front-page article chronicling the many warnings the former Federal Reserve chairman received about aggressive sub-prime lenders luring unsuspecting customers into crazy mortgages they never could afford. ‘Where was Washington?’ the newspaper asked. And where was Alan?

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They failed to act on clues to risky loans and default rates.

(WASHINGTON) Until the boom in sub-prime mortgages turned into a national nightmare this summer, the few people who tried to warn federal banking officials might as well have been talking to themselves.

Edward Gramlich, a Federal Reserve governor who died in September, warned nearly seven years ago that a fast-growing new breed of lenders was luring many people into risky mortgages they could not afford.

But when Mr Gramlich privately urged Fed examiners to investigate mortgage lenders affiliated with national banks, he was rebuffed by Alan Greenspan, the Fed chairman.

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(SYDNEY) Centro Properties Group, the owner of 700 US shopping malls, slumped 76 per cent in Sydney trading.

Hard times: Melbourne-based Centro suspended dividends and said it may have to sell assets after lenders gave it until Feb 15 to renegotiate maturing debt

It said it’s struggling to refinance debt because of the collapse in the US sub-prime housing market.

Melbourne-based Centro suspended dividends and said it may have to sell assets, after lenders gave it until Feb 15 to renegotiate maturing debt.

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Investors expect to get glimpse of 2008 outlook from earnings reports of 3 major broking houses.

By many measures, the global credit crisis is back to its worst levels since August. The prospects for a prolonged credit crunch that limits lending to businesses will be hanging like a black cloud over Wall Street this week, despite the efforts of the US central bank, which announced it is coordinating efforts with other central banks to add liquidity through a series of auctions of term funds and currency swap lines to help ease current credit market pressures.

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Proposed rate freeze may drag out recession, responsible mortgagees will have to compete for benefits and tax breaks.

‘HELP is on the way!’ is the kind of slogan that should probably be embraced by every US politician ranging from the Republican White House to the Democratic-controlled Congress - all of whom seem to agree that the federal government needs to come with a ‘relief plan’ to help consumers and businesses devastated by the ups and downs of the economy.

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Disappointment ahead for those expecting central bank’s plan to solve debt mess.

By PAUL KRUGMAN

On Wednesday, the Federal Reserve announced plans to lend US$40 billion to banks. By my count, it’s the fourth high-profile attempt to rescue the financial system since things started falling apart about five months ago. Maybe this one will do the trick, but I wouldn’t count on it.

Loan crisis: Loss of confidence can be a self-fulfilling prophecy, even depositors who don’t believe the rumour would join in the bank run, trying to get their money out while they can.

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Banks in Spain are aggressively curbing loans in fallout from US sub-prime woes.

(MADRID) Julia Gavin sold more than a house a week as the Spanish real-estate boom peaked last year. Now that business is drying up, she’s sharing leads with competitors, reckoning a partial commission is better than none at all.

Crunch amid the calm: Three-quarters of Spain’s 60,000 property companies may end up bankrupt because of a drop in both demand and liquidity, says analyst Fernando Rodriguez de Acuna M

‘We’re up to our ears with work, but no sales,’ said Ms Gavin, 52. ‘It’s horrible.’

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Lack of liquidity, concerns over counterparty risk likely to persist.

(LONDON) Investors expect the global credit squeeze to continue beyond the first quarter of 2008, according to the Bank for International Settlements.

Models using derivatives based on money-market rates signal ‘expectations of a persistent lack of liquidity and lasting concerns about counterparty risk,’ the BIS said in its latest quarterly survey.

Basel, Switzerland- based BIS, formed in 1930, monitors financial markets and regulates banks.

‘The bank liquidity crisis has become a more serious problem than sub- prime though both are correlated,’ said Aaron Low, a principal in Singapore at hedge fund Lumen Advisors. ‘The banking confidence factor has affected a broader segment of the economy.’

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