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...]
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...]
Know who to trust in your property decision
I must admit that I am the type of person that won’t trust others easily. Very often, I question what strangers say, especially what salespeople tell me. I am not born skeptical or cynical. It is learned over the years. After two decades investing in properties and other assets, I have my fair share of trusting the wrong source or person. There were many times I regretted … [Read more...]
How rate hikes hit developers and homebuyers
It’s the season for rate hikes. This Wednesday (July 27) the Federal Reserve raised another 0.75 basis point for second consecutive month. It vowed to go for more rate hikes to fight the battle against inflation. Taking the hint from the Fed, Singapore banks are likely to follow suit to raise rates like the previous round. After all, this was how the three local banks … [Read more...]