I read with bewilderment the article from Singapore Property Review titled “An inconvenient truth: Property curbs may never be lifted, analysts warn”. “The report argued that unless property prices plunge suddenly and dramatically, buying curbs may not be lifted in order to substantially reduce Singapore's unhealthy fixation with real estate.” This remark from the Maybank Kim … [Read more...]
Propexit versus propremain – which side are you on?
June 23 marks the independence of Britain which has finally voted out of the European Union. Other European countries are pledging to stand behind the EU. But deep down they are probably guessing which country will be the next one out. Brexit may start a chain reaction that leads to Frexit, Grexit, Luxexit, Spexit and Swexit. Sorry about my spellings but don’t forget we also … [Read more...]
Where is the ‘gem’ at Gem Residences?
Driven by the recent hype over the launch of Gem Residences, I decided to visit the sales gallery last Sunday. It would be interesting to find out from the horse’s mouth the stories of the project. For examples, 1. 1,449 cheques were collected before the launch but only 360 buyers showed up on the launch day, with 51 percent of the 578 units (i.e. 295 units) sold. 2. … [Read more...]
Bad quality properties – a big surprise for home owners
Today my mother called about problems with her flat in Hong Kong again. Since she collected the keys 15 years ago, she has done countless fixing and touch-up of defects in her apartment. Two years ago, the neighbor downstairs complained about water seepage from her master toilet. She spent thousands of dollars to fix it. Next came the second toilet. Again they had to … [Read more...]
Should I buy or rent?
A friend recently moved from one rented home to another. The family of four is still staying in a condominium in the east side of Singapore, but this time a better one - it is newer, bigger, and asking for lower rent too. According to the latest SRX Rental Market Flash Report, rents for non-landed private rentals in October 2015 has fallen 5.7 percent from a year ago. … [Read more...]