Which is the most honest property developer? In 2012, former CapitaLand chief executive Liew Mun Leong urged the government to regulate the building of shoebox apartments. He criticized shoebox developers for wasting Singapore’s limited land. Besides, these homes are “almost inhuman” and not good for the welfare of the family. Apparently, Liew himself grew up in a … [Read more...]
Money laundering and weak demand plague private home market
Singapore’s private home market was a pool of stagnant water in the last two months. We can’t blame developers for holding back new launches for three months. After all, it was traumatic in mid-August to sell only 53 units across three new projects during the same first launch weekend. Thanks to high interest rates. Resales volumes are no better. After it peaked eight … [Read more...]
Home buying spree is fading fast
Singapore’s pandemic-fueled home buying fever is cooling faster than what everyone has expected. Last week ended with the shocking news that three new launches sold a total of merely 53 units in their first weekend: - TMW Maxwell sold 7 units out of a total of 324 units (2.2 percent sold) - The Arden sold 27 units out of a total of 105 units (25.7 percent sold) - … [Read more...]
4 dumb property decisions we made
Homebuyers are prone to making dumb property decisions because of human weaknesses. Hong Kong author Suhei (素黑) said human beings have five major weaknesses - greedy, confused, lazy, stubborn and dumb. We need conscience and guts to admit that we have made a mistake. However, it is not difficult for us to confess that we can be greedy, confused, lazy or stubborn at times. … [Read more...]
New project with most returned units. The winner is …
Lately, there were media reports every other week on a new condo launched with a bang. On the other hand, a check on URA monthly data on sales by developers also reveals the fact that the number of returned units from buyers is on the rise. What are returned units to developers? Returned units are new units of uncompleted projects. Homebuyers have already placed a … [Read more...]