Friday, October 2, 2009

Property Headlines and Sentiments in Singapore

The Straits Times of Singapore reported today that HDB is ramping up flats supplies up to 7000 units over the next 3 months.

At the same time, it is also reported that private home prices have soared 15.9% in the 3rd quarter. This have wiped out half the losses since mid-2008. However, the Straits Times quoted experts warned that this could be due to excessive speculation. The government may intervene if the price rise continue to be unsustainable.

A number of property launches are also advertised including overseas projects such as the Gold Coast, New Zealand, London and our very own D'Tiara. Amanah Raya advertised D'Tiara with a lucrative 10:90 scheme and a dubious 35% guaranteed rental return. Prices for D'Tiara at KL Brickfields area start from SGD228,000. However, Singaporeans may not have a problem choosing large luxurious Auckland City Apartments in New Zealand which comes with a car park starting from SGD225,000. The Kiwis also offer a more realistic guaranteed rental return of 7%.

London's Woodberrypark project is also advertised in the Straits Times with starting prices at GBP199,950. These are 1,2 and 3 bedroom units located in Zone2, 5 minutes from the Picadilly Line. Despite the hefty starting price for a 1 bedroom unit, it should not be far off the reach of many Singaporeans as that price would get the same size unit in central Singapore.

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