(SINGAPORE) Singapore’s property market is looking relatively less attractive to investors as they worry about oversupply and overdevelopment on the island.

According to a joint survey by PricewaterhouseCoopers (PwC) and the US-based Urban Land Institute (ULI), Singapore is fifth in a ranking of Asia-Pacific cities’ property investment prospects, falling three notches from a year ago. In another ranking of development prospects, Singapore took 11th spot, down from seventh.

For the Emerging Trends in Real Estate Asia Pacific 2010 study, PwC and ULI gathered the views of more than 270 real estate investors, developers and other players from mid-September to early November. The report notes that sentiment across the region has improved but also warns against complacency, ‘with the prospects for Western economies precarious’.

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ABOUT half a dozen floors at Marina Bay Suites changed hands at last week’s preview of the project, BT understands.

The buyers of the whole floors are understood to be Indonesians, Singaporeans and other Asians.

Some of them bought through companies. The foreigners are believed to be Singapore permanent residents.

In absolute terms, the biggest transaction was close to $45 million, involving at least two floors. The buyer is understood to be an Indonesian party.

Market watchers estimate that it could have cost buyers between $17 million and $18 million to purchase a whole floor at the 99-year leasehold condo based on prices at last week’s preview.

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Dubai lacked a development plan backed by fundamentals and prudence

(SINGAPORE)

IT IS really a contrasting tale of two cities.

Singapore, which is fundamentally strong, is now bracing itself for an economic recovery next year, while debt-ridden Dubai finds itself under the spotlight due to its credit woes.

But as recently as four years ago, Dubai was portraying itself as the ‘Singapore’ of the Middle East, not least because of the fact that the tiny Gulf state’s economic model closely mirrors that of the South-east Asian country in the last decade.

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(SINGAPORE) SINGAPORE’S rich are among the most optimistic of investors when it comes to property investments, and are planning to raise their exposure to the asset class in the next two years, a new study shows.

The study, by Barclays Wealth and the Economist Intelligence Unit, found that 53 per cent of high net worth investors in Singapore expect an increase in the value of their property investments over the next two years. This is slightly more than the 49 per cent of respondents who hold the same view globally.

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But resurgence in speculative activity not likely in short term, says CDL boss

(SINGAPORE) Property tycoon Kwek Leng Beng feels that the authorities could raise the downpayment on the purchase of private homes if there is a risk of resurgence in speculative activity.

Currently, home buyers make a 5 per cent minimum cash downpayment.

‘The downpayment payable . . . can be increased to reduce the amount of speculation. This amount can be increased further should the speculation go unabated,’ Mr Kwek said this week in an e-mail response to BT’s questions.

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Live in the heart of it all

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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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By Ellen Joy Anastacio

Fancy an HDB flat along the waterway?

By 2014, this will be a reality.

Minister for National Development, Mr Mah Bow Tan, announced the winner of the Punggol Waterfront Housing Design Competition at the HDB Awards Ceremony today, culminating a two-stage design competition launched in 2008.

Group8asia, an international architectural firm; in partnership with local design firm Aedas, has emerged as the winner of HDB’s Punggol Waterfront Housing Design Competition.

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By LESLIE YEE

I WORK in the real estate sector in Hong Kong but do not cover the residential property market. Nevertheless, like many residents of the Special Administrative Region, I have been fascinated by recent market developments. Over the past few months, prices have been rising, China buyers have been increasingly active, developers have been launching units and analysts have been talking about the lack of supply. Debate raged over the sustainability of price rises with the argument centring on lingering economic weakness versus abundant liquidity coupled with early signs of economic improvement.

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HE ARRIVED in a whirlwind of publicity earlier this year and bought a $15.46 million penthouse at The Sail @ Marina Bay condominium.

Now, Indian billionaire Bhupendra Kumar Modi is setting his sights beyond Singapore.

He wants to spend US$100 million (S$140 million) to buy beach resorts in popular spots such as Bintan and Batam, and invest in at least four smaller islands which remain largely underdeveloped.

The privately owned islands with a combined land area of more than 300ha - or two-thirds the size of Sentosa - are north of Batam.

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Fri, Nov 13, 2009
The Straits Times

PROPERTY cycles are hard to predict, but the Government will try to avoid boom-bust cycles, said Finance Minister Tharman Shanmugaratnam yesterday.

‘We will keep our eyes on the ball and use all the tools at our disposal, but in a calibrated fashion,’ he told about 80 business leaders at a forum to garner feedback for the Economic Strategies Committee. Mr Tharman is heading this committee to look into new ways for Singapore to grow.

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