Category Archives: Property Market / Real Estate

Supply, interest rates frame housing debate

Posted on 16 Oct 2009 | Comments Off on Supply, interest rates frame housing debate

The property market yesterday toasted the sale of a record 5,719 private homes in the third quarter, even though the industry posted a second consecutive month-on-month drop in sales to 1,143 units in September. Despite the high point, the discussion in property circles was marked by circumspection.

The number of homes that developers manage to sell in the fourth quarter as well as next year will be limited by the shrinking stock of launch-ready homes and developers’ fast-depleting landbanks.

While the economic outlook is improving, the accompanying scenario of rising interest rates may cause some to re-evaluate their property investment decisions as mortgage rates rise. If savings rates on bank deposits also increase, this will take some shine off parking money in property, which is what many investors have been doing this year, says DTZ executive director (consulting) Ong Choon Fah. Continue reading →

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Posted in Property Market / Real Estate, Property Price, Sentosa Property

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Dispute over dead man’s house resolved

Posted on 16 Oct 2009 | Comments Off on Dispute over dead man’s house resolved

Wife will keep the $4.8m proceeds from property which his brother sold
While Madam Chen could not prove that her husband had paid for the house, the court ruled in her favour based on the title deed. (left) — ST FILE PHOTOS
Mr Loo Chay Sit claimed that he had paid for the property and his late brother had held it in trust for him  (right)– ST FILE PHOTOS

THE wife of a Singaporean who died in a United States jail will get to keep the $4.8million from a house sold by his elder brother but which she said was owned by her husband.

The Margate Road property at the centre of the ownership spat was registered in the younger Mr Charles Loo Chay Loo’s name when it was bought in 1979 but the elder Mr Loo Chay Sit and their parents had lived there since 1999. Continue reading →

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Posted in Property Market / Real Estate, Tax Matters / Property Tax

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