Category Archives: Property Market / Real Estate

Illegal subletting in private residences on the rise

Posted on 28 Aug 2009 | Comments Off

The Urban Redevelopment Authority (URA) has investigated over 500 cases of illegal subletting at private residences so far this year. That’s 25 per cent more than the whole of 2008.

These involve the unauthorised partitioning of apartments, shophouses and terrace units into smaller units in order to sublet them individually.

Authorities said the majority of offences involved turning residential units into workers dormitories, boarding houses or hostels.

And they said culprits include property agents, a claim which their umbrella association flatly denies.

The Institute of Estate Agents said members found flouting the rule will be reported to the authorities, and stripped of their membership.

Source : Channel NewsAsia – 27 Aug 2009

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Posted in Property Market / Real Estate

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Sentiment, not liquidity, driving asset prices: C Suisse

Posted on 28 Aug 2009 | Comments Off

THE recent sharp rebound in asset prices in Asia is not due to loose monetary conditions or a deluge of foreign capital, a senior economist at Credit Suisse says in a report.

Rather, improving sentiment among investors is likely the main driving force behind the recent run-up in equity and property prices, according to Credit Suisse economist Cem Karacadag.

In a separate report, Citigroup’s Singapore equity strategist Chua Hak Bin says he now believes the Straits Times Index could reach 3,000 points by the end of March next year, buoyed by better economic data in the next few months.

‘This economic recovery will continue to look V-shaped in coming months, as third-quarter gross domestic product and job growth continue to show a definite improvement,’ he says. Continue reading →