With property developers rushing to launch new projects, the once quiet market is buzzing again. I spent a few Saturdays visiting the sales galleries of some property new launches, including the Jewel@Buangkok, Sant Ritz, Bartley Ridge, the Panorama, etc. I also went to see some mixed development like the VE NUE Residences, Midtown Residences and Nine Residences. When the … [Read more...]
How necessary is the exemption of the TDSR rules?
On Monday evening, the Monetary Authority of Singapore (MAS) suddenly issued a press release to broaden the existing exemption from the Total Debt Servicing Ratio (TDSR) rules introduced in June last year. Fine-tuning financing restrictions a norm? Financing restrictions introduced by MAS under the context of prudent borrowing are usually made effective the following day. … [Read more...]
Property market in 2013-2014: A watershed year or a transitional setback?
The property market in 2014 starts with a series of bad news from the Urban Redevelopment Authority (URA) and the Housing and Development Board (HDB). How bad are the numbers? On 2nd January, HDB announced that the HDB Resale Price Index continued to drop in 4th quarter 2013. The 1.3 per cent decline was the worst since eight years ago in 2005. Coincidentally, URA released … [Read more...]
Why developers can sell at future prices
Do you ever wonder why new projects from developers are able to command a large premium in asking price, sometimes up to fifty percent higher than nearby projects built in recent years? Below is an abstract from my interview with a VIP customer (as compared to the usual retail buyers). Me : How do you manage to buy before everyone do? VIP: After developers set the prices, … [Read more...]
What Total Debt Servicing Ratio meant to kill
The Monetary Authority of Singapore (MAS) introduced the Total Debt Servicing Ratio (TDSR) framework for all property loans granted by financial institutions (FIs), with effect from 29 June 2013. In for the kill Computations of the TDSR affects properties that are residential or non-residential, individuals’ or companies', new applications or re-financed loans, and in or … [Read more...]