(SINGAPORE) In a historic move, the Real Estate Developers’ Association of Singapore has teamed up with the National University of Singapore’s Department of Real Estate (DRE) to develop a Real Estate Sentiment Index (RESI), and it shows a lower reading for the second quarter of this year than for the first quarter.
Developers and industry players continue to express positive sentiments but expect market conditions to be less robust, Redas and DRE said.
More respondents were still positive (rather than negative) on the overall performance of the prime and suburban private residential markets over the next six months but the consensus as indicated by net balances weakened in the second quarter compared with the first quarter.
On the other hand, the net balance for offices improved substantially, in tandem with improving sentiment in this segment in April-June.
The survey also found that 51 per cent of developers polled for Q2 expect price growth for new residential launches, down from 85 per cent in Q1.
‘The partnership between NUS and Redas has ensured academic rigour and added credibility to the new index.’ - Redas CEO Steven Choo
About 68 per cent of developers surveyed in Q2 expect more units to be launched over the next six months, down from 83 per cent in the Jan-March period.
The findings of the survey will be officially released this morning at the Redas Property Prospects Update 2010 seminar at Orchard Hotel.
Some market watchers welcomed Redas efforts in coming up with an objective method of gauging the confidence level of senior executives of property developers - and making it public. ‘It’s good to hear from the horse’s mouth,’ said DTZ executive director Ong Choon Fah.
Redas CEO Steven Choo noted that ‘while business expectation surveys are available for the manufacturing and service industries, there is currently no indicator specifically tracking sentiment in the fast-paced real estate market of Singapore’.
Some industry watchers also pointed to the refreshing change at Redas. ‘Previously, something like this, showing a slowdown in sentiment, would have been considered extremely sensitive and developers may have tried to hide it. Now they’re more open about it,’ said an observer.
Thursday, July 29, 2010
Saturday, July 17, 2010
Crouchen reisling
Finally I found a white that my wife likes- crouchen reisling brown brothers
Sweet pale yellow with aromas of ripe pear, tropical fruits and citrus. Clean and lively on the palette with some residual sweetness which is balanced by the reisling's crisp acidity
- Posted using BlogPress from my iPhone
Sweet pale yellow with aromas of ripe pear, tropical fruits and citrus. Clean and lively on the palette with some residual sweetness which is balanced by the reisling's crisp acidity
- Posted using BlogPress from my iPhone
Monday, July 05, 2010
Saturday, July 03, 2010
Melbourne 4 to 10 April
Went to visit 001 since he moved into his new house 2 yrs ago. When I reached the airport was plesantly surprised to see Mr K at the coach stand waiting for me. Didnt even know he was coming from Sydney too!
Melbourne to me was a diluted version of Europe and cheaper. Trams, horses, cyclists, buses, cars pedestrians interlink like clockwork. The age old tram system is still a working system and works well.
Walking past the many bluestone buildings were a delight. The old buidings here were made of bluestone which was in abundance while those in Sydney were made of sandstone which was local there. The bluestone was bluish black in color and made the buildings gothic looking with a touch a of romantism.
The cafe / coffee culture is still very much alive, with tastefully designed cafes each its disctinct character. Most of them belong to the class of casual chic where old is mixed with new and put together very nicely. Behind each seemingly random combination is a careful consideration of how people eat, dine and live. The latte cup is the same size every cafe you step into, as if like a golden rule not to be broken: a smaller small cuppa of glass served on a white porcelian saucer. Starbucks does not survive here. And yes the coffee is fantastic.
Along the way I see construction workers having a sandwich during lunch and mucking around. Typical Aussies, boisterous, blokish and a fun loving bunch. Their police seargants also looks much better and smarter than ours.
At nights we will get a bottle of red from the bottle shops and watch Aussie TV with thier distinctive Aussie humor or just talk about old times. Just like the good old student days.
One of the most livable cities in the world what else can I say? Just a few small touches that I really appreciate and I wish Singapore will do:
-All the cafes serve unlimited supply of free water that you can help yourself to.
-In the city and tram stops, there are guides that show directions and help you find your way around. They will give you a free map. These people are usually retirees with a sense of passion to make Melbourne user friendly.
-Post Easter is not a bad time to go, with post Easter sales and before it turns really cold.
-The tourist tram is a good way to go around the city for first timers. They stop at all the must see stops.
A big thanks to 001 for bringing me around the hidden and undiscovered areas of Melbourne as well as the F&B institutions, and this is what Melbourne is all about.
Melbourne to me was a diluted version of Europe and cheaper. Trams, horses, cyclists, buses, cars pedestrians interlink like clockwork. The age old tram system is still a working system and works well.
Walking past the many bluestone buildings were a delight. The old buidings here were made of bluestone which was in abundance while those in Sydney were made of sandstone which was local there. The bluestone was bluish black in color and made the buildings gothic looking with a touch a of romantism.
The cafe / coffee culture is still very much alive, with tastefully designed cafes each its disctinct character. Most of them belong to the class of casual chic where old is mixed with new and put together very nicely. Behind each seemingly random combination is a careful consideration of how people eat, dine and live. The latte cup is the same size every cafe you step into, as if like a golden rule not to be broken: a smaller small cuppa of glass served on a white porcelian saucer. Starbucks does not survive here. And yes the coffee is fantastic.
Along the way I see construction workers having a sandwich during lunch and mucking around. Typical Aussies, boisterous, blokish and a fun loving bunch. Their police seargants also looks much better and smarter than ours.
At nights we will get a bottle of red from the bottle shops and watch Aussie TV with thier distinctive Aussie humor or just talk about old times. Just like the good old student days.
One of the most livable cities in the world what else can I say? Just a few small touches that I really appreciate and I wish Singapore will do:
-All the cafes serve unlimited supply of free water that you can help yourself to.
-In the city and tram stops, there are guides that show directions and help you find your way around. They will give you a free map. These people are usually retirees with a sense of passion to make Melbourne user friendly.
-Post Easter is not a bad time to go, with post Easter sales and before it turns really cold.
-The tourist tram is a good way to go around the city for first timers. They stop at all the must see stops.
A big thanks to 001 for bringing me around the hidden and undiscovered areas of Melbourne as well as the F&B institutions, and this is what Melbourne is all about.
Friday, July 02, 2010
Private home prices in Singapore overtake 1996 peak
PRIVATE home prices in Singapore are now at their highest level ever, eclipsing even the previous 1996 peak.
Official estimates show prices rose a higher-than-expected 5.2 per cent in the second quarter after a 5.6 per cent jump in the first. That means private home prices have risen 11.1 per cent so far this year.
Prices, now 1.5 per cent above the 1996 high, are expected to continue to edge up this year given the positive economic outlook, property experts forecast.
But the rises should moderate as the market is no longer feverish, having slowed to a more sustainable level with many more sites on the way, they said.
CB Richard Ellis' executive director, residential, Mr Joseph Tan, said the ample supply of residential land to be released by the Government will ensure a more stable supply in the longer term. 'As sales momentum becomes less frenzied, home prices will stabilise,' he said.
The Government has lined up a record amount of land for sale in the second half of the year and yesterday released three sites for sale.
One is an executive condominium site in Jurong West which can yield about 460 units. The other two sites are in Miltonia Close and Bedok Town Centre. Together, they can yield about 1,300 homes.
Other data out yesterday showed that Housing Board resale prices rose 3.8 per cent to a new record high in the same period, giving strong support to 'mass market' private homes - generally the less expensive private homes. This came after HDB this week offered 2,696 build-to-order flats in its largest ever single launch.
In the private mass market, buyers such as HDB upgraders are increasingly reluctant to pay sky-high prices, noted Colliers International's director of research and advisory, Ms Tay Huey Ying.
Official estimates show prices rose a higher-than-expected 5.2 per cent in the second quarter after a 5.6 per cent jump in the first. That means private home prices have risen 11.1 per cent so far this year.
Prices, now 1.5 per cent above the 1996 high, are expected to continue to edge up this year given the positive economic outlook, property experts forecast.
But the rises should moderate as the market is no longer feverish, having slowed to a more sustainable level with many more sites on the way, they said.
CB Richard Ellis' executive director, residential, Mr Joseph Tan, said the ample supply of residential land to be released by the Government will ensure a more stable supply in the longer term. 'As sales momentum becomes less frenzied, home prices will stabilise,' he said.
The Government has lined up a record amount of land for sale in the second half of the year and yesterday released three sites for sale.
One is an executive condominium site in Jurong West which can yield about 460 units. The other two sites are in Miltonia Close and Bedok Town Centre. Together, they can yield about 1,300 homes.
Other data out yesterday showed that Housing Board resale prices rose 3.8 per cent to a new record high in the same period, giving strong support to 'mass market' private homes - generally the less expensive private homes. This came after HDB this week offered 2,696 build-to-order flats in its largest ever single launch.
In the private mass market, buyers such as HDB upgraders are increasingly reluctant to pay sky-high prices, noted Colliers International's director of research and advisory, Ms Tay Huey Ying.
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