This is a summary of what is private apartments and condominiums are available for you.
For Rent:
Adam Park
For Sale:
District 15/16
Breeze by the East
The Tropic Gardens
Axis @ Siglap
District 12/13
The Callista
One St Michael's
One Leicester
Friday, October 3, 2008
URA releases flash 3rd quarter 2008 private residential property price index
2 October 2008
URA releases flash 3rd quarter 2008 private residential property price index
The Urban Redevelopment Authority (URA) released today the flash estimate of the price index of private residential property for 3rd Quarter 2008.
Based on the estimated price index of private residential property, prices fell from 177.5 points in the 2nd Quarter 2008 to 174.3 points in the 3rd Quarter 2008. This represents a decline of 1.8%, compared with the 0.2% increase in the previous quarter (see Annex A).
URA also released today the flash estimates of the price changes in the 3 geographical regions for 3rd Quarter 2008. Prices of non-landed private residential properties decreased by 2.0% in Core Central Region and 2.1% in Rest of Central Region while prices of non-landed properties rose 0.1% in Outside Central Region in the quarter (see Annex B). In comparison, for 2nd Quarter 2008, prices of non-landed private residential properties decreased by 0.1% in Core Central Region and increased by 0.7% in Rest of Central Region and 0.9% in Outside Central Region.
The flash estimates are compiled based on transaction prices given in caveats lodged during the first ten weeks of the quarter supplemented by information on the number of new units sold. The statistics will be updated 4 weeks later when URA releases the full 3rd Quarter 2008 real estate statistics, when more data on the caveats lodged and the take-up of new projects are captured. Past data have shown that the difference between the quarterly price changes indicated by the flash estimate and the actual price changes could be significant when the change is small. The public is advised to interpret the flash estimates with caution.
URA will continue to release relevant price sensitive information in a timely manner to allow the public to make informed decisions. On the supply side, the statistics on private residential units in the pipeline, which were last released in Jul 08, will be updated in the 3rd Quarter 2008 Real Estate Statistics to be released on 24 Oct 2008.
Extracted From URA Singapore
URA releases flash 3rd quarter 2008 private residential property price index
The Urban Redevelopment Authority (URA) released today the flash estimate of the price index of private residential property for 3rd Quarter 2008.
Based on the estimated price index of private residential property, prices fell from 177.5 points in the 2nd Quarter 2008 to 174.3 points in the 3rd Quarter 2008. This represents a decline of 1.8%, compared with the 0.2% increase in the previous quarter (see Annex A).
URA also released today the flash estimates of the price changes in the 3 geographical regions for 3rd Quarter 2008. Prices of non-landed private residential properties decreased by 2.0% in Core Central Region and 2.1% in Rest of Central Region while prices of non-landed properties rose 0.1% in Outside Central Region in the quarter (see Annex B). In comparison, for 2nd Quarter 2008, prices of non-landed private residential properties decreased by 0.1% in Core Central Region and increased by 0.7% in Rest of Central Region and 0.9% in Outside Central Region.
The flash estimates are compiled based on transaction prices given in caveats lodged during the first ten weeks of the quarter supplemented by information on the number of new units sold. The statistics will be updated 4 weeks later when URA releases the full 3rd Quarter 2008 real estate statistics, when more data on the caveats lodged and the take-up of new projects are captured. Past data have shown that the difference between the quarterly price changes indicated by the flash estimate and the actual price changes could be significant when the change is small. The public is advised to interpret the flash estimates with caution.
URA will continue to release relevant price sensitive information in a timely manner to allow the public to make informed decisions. On the supply side, the statistics on private residential units in the pipeline, which were last released in Jul 08, will be updated in the 3rd Quarter 2008 Real Estate Statistics to be released on 24 Oct 2008.
Extracted From URA Singapore
UBS to cut 2,000 jobs in investment bank unit
UBS to cut 2,000 jobs in investment bank unit
ZURICH (AFP) - - Switzerland's biggest bank UBS said it would cut 2,000 more jobs as it revamps its investment bank which had been battered by the US subprime crisis.
The latest lay-offs would bring the staff levels in the investment bank unit to approximately 17,000 by the year-end, 6,000 less than the peak level in the third quarter of 2007, the bank said in a statement.
"Reductions will be predominantly targeted to businesses being exited or downsized in order to protect and sustain our core client franchises," it added.
UBS had been forced to write down over 42.5 billion dollars worth of assets and post successive losses when the United States subprime mortgage market soured.
On Thursday, UBS said however that it has turned a corner, with its third quarter expected to yield small profits.
The Swiss bank said its investment unit would cease dealing in commodities as well as "substantially downsize" real estate and securitization trading.
Chairman and chief executive officer of UBS Investment Bank Jerker Johansson explained that the ongoing financial crisis "require us to recalibrate our business.
"While the revenue outlook is uncertain, these measures will allow us to focus on our strengths, reduce the cost base to a more sustainable level and position our core businesses for growth once fundamentals improve," he said.
Extracted from yahoo sg news
ST701 Property Vertical > Highlight
The MRT guide to home prices
Buyers increasingly keen on units near stations, which can command up to a 20% premium
By Fiona Chan, Property Reporter
Published: October 2 2008,
The Straits Times
.....................................................................................
HOME seeker Wan Kum Wai is hunting for a flat that is well-located - specifically, within walking distance of an MRT station.
For this convenience, the multimedia designer and his wife Jessie are willing to pay 10 to 20 per cent more than they would for a home a few bus stops away from a station.
'We don't drive, and the cost of living is running high,' he said. 'We don't mind paying more because we think this will help us save on transportation costs and other expenses in the long run.'
In an era of sky-high petrol prices, multiplying Electronic Road Pricing gantries and increasing worries over environmental degradation, the all-important 'location, location, location' element of a home purchase has taken on a new slant.
While the classic prime districts of 9, 10, 11 are still sought after, home buyers are also increasingly keen on properties near MRT stations.
Apart from non-drivers, MRT-accessible homes also attract buyers with school-going children as well as investors who want to rent the units to expatriates, many of whom rely heavily on public transport, say property agents.
Ms Mylene Kwan, a PropNex agent who is helping Mr Wan find a home, said some of her clients have only one priority: to be near an MRT station.
'Many of them don't drive, so it's very important to these buyers,' she said.
But such proximity comes at a price.
Ms Kwan estimated that HDB flats with this privilege have their valuations alone jacked up by at least $20,000 or $30,000, and buyers often pay even more in cash on top of that.
The most popular HDB flats near MRT stations are those close to town, such as in the Tiong Bahru, Redhill and Queenstown areas, she said.
But even in the suburbs, a nearby station can give a big boost to prices.
In Woodlands, owners of flats near the MRT station are asking $40,000 to $50,000 above valuation just because of the location, said Ms Rohaizah Ramjan, another PropNex agent.
Whenever these flats come on the market, they get snapped up within two or three weeks, she added. For 'normal ones' further from the station, it can take a few months for a sale to be closed.
'Flats near MRT stations are harder to come by, because owners are comfortable there and don't want to sell,' she said. 'So if a buyer has the budget and they see a well-located flat for sale, they just grab.'
The same principle applies to private property. Condominiums near MRT stations can command a premium of up to 20 per cent over similar units a bit further away, said Mr Eric Cheng, executive director of HSR Property Group.
The price difference stems partly from the convenience of these homes, but is also due to their limited supply, he added.
'If you look at the whole map of Singapore, I dare say only about half the MRT stations have condos right next door. Of course, they command a premium, a good 10 to 20 per cent above neighbouring properties 10 minutes' walk away.'
At Tiong Bahru MRT station, for instance, new condos that are at the doorstep of the station - such as Twin Regency and Regency Heights in Kim Tian Road - fetch $1,240 per sq ft (psf) on average.
About five to 10 minutes away, prices average $1,072 psf, or about 15 per cent less, at the equally new The Regency at Tiong Bahru on Chay Yan Street.
'Most of these units are rarely on the market,' said Mr Cheng. 'Even if the owners are not staying in them, they might not want to sell because they can get very high rental returns.'
Still, not all MRT stations are equal. Property values can differ widely between two consecutive stops, such as in the case of Novena and Toa Payoh, where condos around the former are almost double the price of those around the latter, according to an extensive analysis done by property firm Savills Singapore.
Even stations within a few kilometres of each other can see significantly different prices.
Savills' data showed that condos around the Dhoby Ghaut station, for instance, fetched an average of around $1,600 psf in the first six months of the year. Less than 2km away, condos near the Little India station cost only two-thirds that on average, or $1,071 psf.
'Apart from the proximity to an MRT station, buyers do look at other factors,' said Mr Ku Swee Yong, Savills' director of marketing and business development.
'Equally important is the quality, age and tenure of the project and its facilities, how much the unit can fetch in rentals and what amenities are nearby.'
Mr Ku cited Lavender and Farrer Park MRT stations, separated by just 1.5km in distance but about $200 psf in price.
At Lavender, well-equipped condos such as Citylights boosted prices in the vicinity to an average of $1,104 psf in the first six months of the year. But Farrer Park is surrounded by several smaller condos with minimal facilities, so rents and prices tend to be lower, said Mr Ku.
The MRT guide to home prices
Buyers increasingly keen on units near stations, which can command up to a 20% premium
By Fiona Chan, Property Reporter
Published: October 2 2008,
The Straits Times
.....................................................................................
HOME seeker Wan Kum Wai is hunting for a flat that is well-located - specifically, within walking distance of an MRT station.
For this convenience, the multimedia designer and his wife Jessie are willing to pay 10 to 20 per cent more than they would for a home a few bus stops away from a station.
'We don't drive, and the cost of living is running high,' he said. 'We don't mind paying more because we think this will help us save on transportation costs and other expenses in the long run.'
In an era of sky-high petrol prices, multiplying Electronic Road Pricing gantries and increasing worries over environmental degradation, the all-important 'location, location, location' element of a home purchase has taken on a new slant.
While the classic prime districts of 9, 10, 11 are still sought after, home buyers are also increasingly keen on properties near MRT stations.
Apart from non-drivers, MRT-accessible homes also attract buyers with school-going children as well as investors who want to rent the units to expatriates, many of whom rely heavily on public transport, say property agents.
Ms Mylene Kwan, a PropNex agent who is helping Mr Wan find a home, said some of her clients have only one priority: to be near an MRT station.
'Many of them don't drive, so it's very important to these buyers,' she said.
But such proximity comes at a price.
Ms Kwan estimated that HDB flats with this privilege have their valuations alone jacked up by at least $20,000 or $30,000, and buyers often pay even more in cash on top of that.
The most popular HDB flats near MRT stations are those close to town, such as in the Tiong Bahru, Redhill and Queenstown areas, she said.
But even in the suburbs, a nearby station can give a big boost to prices.
In Woodlands, owners of flats near the MRT station are asking $40,000 to $50,000 above valuation just because of the location, said Ms Rohaizah Ramjan, another PropNex agent.
Whenever these flats come on the market, they get snapped up within two or three weeks, she added. For 'normal ones' further from the station, it can take a few months for a sale to be closed.
'Flats near MRT stations are harder to come by, because owners are comfortable there and don't want to sell,' she said. 'So if a buyer has the budget and they see a well-located flat for sale, they just grab.'
The same principle applies to private property. Condominiums near MRT stations can command a premium of up to 20 per cent over similar units a bit further away, said Mr Eric Cheng, executive director of HSR Property Group.
The price difference stems partly from the convenience of these homes, but is also due to their limited supply, he added.
'If you look at the whole map of Singapore, I dare say only about half the MRT stations have condos right next door. Of course, they command a premium, a good 10 to 20 per cent above neighbouring properties 10 minutes' walk away.'
At Tiong Bahru MRT station, for instance, new condos that are at the doorstep of the station - such as Twin Regency and Regency Heights in Kim Tian Road - fetch $1,240 per sq ft (psf) on average.
About five to 10 minutes away, prices average $1,072 psf, or about 15 per cent less, at the equally new The Regency at Tiong Bahru on Chay Yan Street.
'Most of these units are rarely on the market,' said Mr Cheng. 'Even if the owners are not staying in them, they might not want to sell because they can get very high rental returns.'
Still, not all MRT stations are equal. Property values can differ widely between two consecutive stops, such as in the case of Novena and Toa Payoh, where condos around the former are almost double the price of those around the latter, according to an extensive analysis done by property firm Savills Singapore.
Even stations within a few kilometres of each other can see significantly different prices.
Savills' data showed that condos around the Dhoby Ghaut station, for instance, fetched an average of around $1,600 psf in the first six months of the year. Less than 2km away, condos near the Little India station cost only two-thirds that on average, or $1,071 psf.
'Apart from the proximity to an MRT station, buyers do look at other factors,' said Mr Ku Swee Yong, Savills' director of marketing and business development.
'Equally important is the quality, age and tenure of the project and its facilities, how much the unit can fetch in rentals and what amenities are nearby.'
Mr Ku cited Lavender and Farrer Park MRT stations, separated by just 1.5km in distance but about $200 psf in price.
At Lavender, well-equipped condos such as Citylights boosted prices in the vicinity to an average of $1,104 psf in the first six months of the year. But Farrer Park is surrounded by several smaller condos with minimal facilities, so rents and prices tend to be lower, said Mr Ku.
Thursday, October 2, 2008
Singapore home prices see first drop in 4 yrs
Singapore home prices see first drop in 4 yrs Reuters - Thursday, October 2By Daryl Loo
SINGAPORE, Oct 2 - Singapore private home prices fell 1.8 percent between July and September, snapping four straight years of growth and sending property stocks plunging to near three-year lows.
The Urban Redevelopment Authority said on Thursday early estimates showed the price index for private residential properties dropped to 174.3 points for the three months ended September from 177.5 in the previous three-month period.
This is the first decline in the index since the first quarter of 2004, as concerns over global financial turmoil caused home sales to slump.
"Bad news in the global markets deflated investor sentiments. We expect home prices to decline for at least the next 12 months," said Nicholas Mak, head of research for property consultancy Knight Frank.
Shares of developers such as CapitaLand, City Developments and Keppel Land extended earlier losses after the noon trading break, underperforming the Straits Times index which lost 1.1 percent.
CapitaLand fell as much as 4.6 percent, CityDev lost 7.8 percent, while KepLand dropped nearly 4.6 percent, taking the city-state's top three homebuilders down to near three year intraday lows hit on Tuesday.
"Developers that have unlaunched projects may want to do so soon while it is still profitable for them. Otherwise it could be a long wait for the market to recover," Mak said.
Private home sales in Singapore plummeted 81 percent in August from a year ago, to the lowest level since March as a combination of global financial turmoil and the traditionally "unlucky" Hungry Ghost month spooked buyers. [ID:nSIN276583]
Poor demand and a looming housing glut are threatening to plunge the property market into a prolonged downturn, which could deal a blow to Singapore's top developers.
The advance estimates are compiled from transaction prices lodged during the first 10 weeks of the quarter as well as data from new apartments that have been booked. The URA will release the official price index in four weeks.
SINGAPORE, Oct 2 - Singapore private home prices fell 1.8 percent between July and September, snapping four straight years of growth and sending property stocks plunging to near three-year lows.
The Urban Redevelopment Authority said on Thursday early estimates showed the price index for private residential properties dropped to 174.3 points for the three months ended September from 177.5 in the previous three-month period.
This is the first decline in the index since the first quarter of 2004, as concerns over global financial turmoil caused home sales to slump.
"Bad news in the global markets deflated investor sentiments. We expect home prices to decline for at least the next 12 months," said Nicholas Mak, head of research for property consultancy Knight Frank.
Shares of developers such as CapitaLand
CapitaLand fell as much as 4.6 percent, CityDev lost 7.8 percent, while KepLand dropped nearly 4.6 percent, taking the city-state's top three homebuilders down to near three year intraday lows hit on Tuesday.
"Developers that have unlaunched projects may want to do so soon while it is still profitable for them. Otherwise it could be a long wait for the market to recover," Mak said.
Private home sales in Singapore plummeted 81 percent in August from a year ago, to the lowest level since March as a combination of global financial turmoil and the traditionally "unlucky" Hungry Ghost month spooked buyers. [ID:nSIN276583]
Poor demand and a looming housing glut are threatening to plunge the property market into a prolonged downturn, which could deal a blow to Singapore's top developers.
The advance estimates are compiled from transaction prices lodged during the first 10 weeks of the quarter as well as data from new apartments that have been booked. The URA will release the official price index in four weeks.
US Senate approves economic bailout plan
Quoted from Yahoo.com
WASHINGTON (AFP) - - The US Senate on Wednesday approved a 700-billion-dollar Wall Street bailout package by a vote of 74-25 amid a widening global crisis sparked by the collapse of the US housing market.
The bill next moves to the House of Representatives, where it faces an uncertain future after lawmakers rejected an earlier version on Monday, sending world markets into freefall.
The Senate nod raised hopes that the amended plan could be on President George W. Bush's desk for final approval by the weekend and eased the panic sparked by Monday's rejection of the plan by the House.
The amended bill raises the ceiling on federal insurance for bank deposits from 100,000 dollars to 250,000 dollars, a move aimed at reassuring savers that their money is safe in banks and avoiding mas withdrawals.
It retains most facets of the original plan which gives Treasury Secretary Henry Paulson the power to buy up tainted mortgage-related assets in troubled banks and includes restrictions on "golden parachute" payoffs for executives.
Opponents of the bill have balked at handing that much power to one man, and reject the notion of using taxpayer money to bailout out disgraced Wall Street firms.
The proposal has run into fierce grass-roots resistance by voters who see it as a reward for imprudent Wall Street money spinners.
Wednesday's surprise Senate vote was called after Democratic and Republican negotiators agreed on the terms of the reframed deal.
New talks were underway in the House meanwhile on tweaking the package to ensure it gets through on a second vote, after lawmakers sensationally killed off the original bill on Monday by 228 to 205 votes.
Earlier in the day, Democratic House Majority leader Steny Hoyer sounded a note of caution, appearing to indicate the bill would only be brought to a vote if it looked certain to pass.
"If there is bipartisan, majority support for the Senate package, we will likely bring it to the floor on Friday," he said in a statement.
Hoyer raised concerns that some of his fellow Democrats who originally voted for the bailout might reject it over the Senate's extension of expired tax breaks for businesses.
"There's no doubt the tax package is very controversial. The Senate, in my opinion, is adding that on because they think that's the only way they can get it passed," Hoyer told NBC ahead of the vote.
Conservative Democrats previously rejected extending such tax breaks unless they can be offset in other areas of the budget in an attempt to curtail the growth of the deficit.
The bailout bill had been expected to encounter less resistance in the Senate than the House, partly because only a third of the chamber's lawmakers are up for re-election on November 4.
Every House member faces voters, and many lawmakers in tight reelection fights opposed the package on Monday.
WASHINGTON (AFP) - - The US Senate on Wednesday approved a 700-billion-dollar Wall Street bailout package by a vote of 74-25 amid a widening global crisis sparked by the collapse of the US housing market.
The bill next moves to the House of Representatives, where it faces an uncertain future after lawmakers rejected an earlier version on Monday, sending world markets into freefall.
The Senate nod raised hopes that the amended plan could be on President George W. Bush's desk for final approval by the weekend and eased the panic sparked by Monday's rejection of the plan by the House.
The amended bill raises the ceiling on federal insurance for bank deposits from 100,000 dollars to 250,000 dollars, a move aimed at reassuring savers that their money is safe in banks and avoiding mas withdrawals.
It retains most facets of the original plan which gives Treasury Secretary Henry Paulson the power to buy up tainted mortgage-related assets in troubled banks and includes restrictions on "golden parachute" payoffs for executives.
Opponents of the bill have balked at handing that much power to one man, and reject the notion of using taxpayer money to bailout out disgraced Wall Street firms.
The proposal has run into fierce grass-roots resistance by voters who see it as a reward for imprudent Wall Street money spinners.
Wednesday's surprise Senate vote was called after Democratic and Republican negotiators agreed on the terms of the reframed deal.
New talks were underway in the House meanwhile on tweaking the package to ensure it gets through on a second vote, after lawmakers sensationally killed off the original bill on Monday by 228 to 205 votes.
Earlier in the day, Democratic House Majority leader Steny Hoyer sounded a note of caution, appearing to indicate the bill would only be brought to a vote if it looked certain to pass.
"If there is bipartisan, majority support for the Senate package, we will likely bring it to the floor on Friday," he said in a statement.
Hoyer raised concerns that some of his fellow Democrats who originally voted for the bailout might reject it over the Senate's extension of expired tax breaks for businesses.
"There's no doubt the tax package is very controversial. The Senate, in my opinion, is adding that on because they think that's the only way they can get it passed," Hoyer told NBC ahead of the vote.
Conservative Democrats previously rejected extending such tax breaks unless they can be offset in other areas of the budget in an attempt to curtail the growth of the deficit.
The bailout bill had been expected to encounter less resistance in the Senate than the House, partly because only a third of the chamber's lawmakers are up for re-election on November 4.
Every House member faces voters, and many lawmakers in tight reelection fights opposed the package on Monday.
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