Tag Archives: Singapore Property Market

More homes in the pipeline

Posted on 22 Aug 2009 | Comments Off on More homes in the pipeline

More than 40,000 units are due to come onto the market over the next few years

PROPERTY supply is not a problem, according to National Development Minister Mah Bow Tan. He believes that there are plenty of homes in the supply pipeline for Singaporeans, pointing out at a recent event that more than 40,000 units are due to come onto the market over the next three or four years.

The latest market data certainly supports his view. Figures from Savills Research and Consultancy point to a healthy stream of launches.

It says 5,753 units will become available in the second half of this year and 5,576 units next year. In 2011, 13,418 will be launched; 13,751 in 2012; and 11,058 in 2013.

Of those becoming available between this year and 2012, the bulk – 52 per cent – will be in prime districts 9, 10, 11 and 15, which analysts suggest is Continue reading →

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Posted in New Launches

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1 semi-D + 1 cluster house = 1 flat and $700k loss

Posted on 22 Aug 2009 | Comments Off on 1 semi-D + 1 cluster house = 1 flat and $700k loss

In mid-1990s, many made mistake of thinking prices would keep going up

IN 1995, Mr Zachary Tsai (not his real name) paid nearly $1.3 million for a second house. A general manager with a manufacturing company in his early 40s, he earned a five-figure salary and lived in a semi-detached house he owned in Upper East Coast with his wife and four children.

But pressured by his ‘rich and successful’ friends, he decided to pool his hard-earned savings of $300,000 with his sister to put down a deposit on a three-storey cluster house in Kew Gate, a 31-unit leasehold development in the Upper East Coast area.

Intending to sell it about 10 years later, and confident of being able to repay the mortgage and make a handsome profit, he took out a 90 per cent bank loan.

Any thought that he would lose his job and house prices would drop like a stone never occurred to him. But the unthinkable became an unpleasant reality. Continue reading →

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Posted in Property Market / Real Estate

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