Eight out of ten consumers are satisfied with their property agents, according to the Public Perception Survey conducted by the Council of Estate Agencies (CEA). Consumers put service excellence as most satisfied while agents’ knowledge of the real estate industry (financial matters, accurate and up-to-date property information) could be improved. National Development … [Read more...]
The lesson of Spain’s property bubble
Looking for overseas properties? Forget about Malaysia, Hong Kong, Australia, UK, or even US. Europeans are now making their property buying trips to Spain. Fancy a posh rental apartment in Madrid? What about a vacation home in Costa del Sol? (It's the authentic sunny coast south of Spain, not the Singapore sound-alike, ok?) Why not? Prices have been slaughtered … [Read more...]
The fear of losing out (part II: eCO showflat)
One Sunday afternoon hubby and I drove past the second property that I bought in 2003. Next to it, we were surprised to see the carpark almost full at the eCO showflat. The site of eCO is an empty slope right in front of Bedok Court. I remember the grass on this slope has been replanted at least twice in three years, probably to hold the loose soil. On the left of … [Read more...]
The fear of losing out (part I: cooling measures)
In his book Secrets of the Millionaire Mind, there’s an interesting line from the author T. Harv Eker: Rich people play the money game to win. Poor people play the money game to not lose. I've taken the liberty to change the last few words to describe the Singapore property scene: The pros play the money game to win. The amateurs play the money game not to lose … [Read more...]
New property cooling measures on loan restrictions
A new round of government measures to cool the property market was announced on Friday: 1) With effect from 6 October 2012, mortgage tenures of HDB flats and private properties are capped at 35 years. 2) Loans longer than 30 years have a borrowing limit of 60 percent of the property price. 3) If the >30-year-loan goes beyond the borrower’s retirement age of 65, and … [Read more...]