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 04 Mar 08 9:50 pm |
No wonder our rental market damn good! I increase my rental twice, my tenant also lan lan! Another vacant unit, close one eye also can rent out!!
Thanks to followers for push up the rental market!  |
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04 Mar 08 10:28 pm |
| Anonymous wrote: |
rent first also can, rent first and save some money then buy, more healthy for singapore property market. |
While you are saying this.... no wonder ppl out there saying can't sell also no problem, close one eye also can rent out!!
Really thanks to followers, no wonder property still sustainable! |
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05 Mar 08 12:19 am |
Expats vote Singapore top place to live in
Reuters
Singapore
Tuesday, 4 March 2008
Asian expatriates have ranked Singapore as the best place to live in the world for its safe and clean environment, while Europeans chose Copenhagen, a survey showed on Tuesday.
Asian expats chose Singapore over Hong Kong (15th place) and Shanghai (78th place) and placed Sydney, Melbourne and Canberra as well as two Japanese cities Kobe and Yokohama in their top ten list of favourite locations, said ECA International, a human resource consultancy for multinationals.
Mr Lee Quane, general manager of ECA International, said that Singapore's solid infrastructure, low crime rate and clean air made it a favourable place to live.
'While Hong Kong has seen an improvement in some categories, such as personal security, air pollution remains the biggest cause for its lower rankings relative to Singapore,' Mr Lee said in a statement.
Singapore is competing with Hong Kong as a location for banking and financial services.
For locations in China and India, Shanghai and Chennai (138th place out of a total of 300 locations) came in top for Asian expats, said the annual survey.
European expats ranked Copenhagen as their top choice to live in the world. They placed three Swiss cities - Geneva, Basel and Bern - and three German cities - Dusseldorf, Bonn and Munich - in their top ten.
East European cities such as Bratislava and Bucharest have made improvements in this year's survey because of advances in security, housing and health, the survey said.
European expats rated Bratislava, the capital of Slovakia, as their 20th choice and Romania's capital of Bucharest in 14th place.
In the Middle East, Manama, the capital of Bahrain, ranked top in the region along with Dubai and Muscat. Baghdad, in last place globally, lost marks for poor security, the survey said.
Top 10 best locations in the world for Asian expats 1) Singapore - Singapore 2) Australia - Sydney 3) Japan - Kobe 3) Australia - Melbourne 5) Denmark - Copenhagen 6) Australia - Canberra 7) Canada - Vancouver  Japan - Yokohama New Zealand - Wellington 10)Ireland - Dublin. |
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05 Mar 08 9:41 am |
Dow Jones Index dropped to a low of 12,032 which is probably the lowest for a year or so and might drop further. Below 12,000 will be a record broken never achieved before since end-2006. Seems like a very bad recession is confirmed in the US, and shortly Singapore will follow. I hope all of you dont miss yesterday's news on Business Times 'China property shares cut to underweight' - cause the analysts are expecting China properties to cool down soon following the footsteps of USA.
Then what makes you think that Singapore property price wont drop when China, the engine of growth for Asia, will soon be experiencing a major property downturn ????
See the article below:
China property shares cut to 'underweight'
BNP slashes 2008 earnings growth for industry to 31%
(HONG KONG) Investors should cut their holdings in Chinese property because of a slowdown in housing starts and home prices that will crimp earnings growth, BNP Paribas said.
The bank downgraded China real estate shares to 'underweight' from 'overweight', and slashed the 2008 earnings growth forecast for the industry to 31 per cent from 47 per cent, Hong Kong-based BNP analyst Andy So wrote in a research report published today.
'Housing starts, bank loans and prices all showed signs of slowing down,' Mr So said in his report. He named Hong Kong-listed Shimao Property Ltd as his top pick in the sector.
Home prices in some of China's biggest cities including Shanghai and Shenzhen fell in the first two months of 2008 as government efforts to curb the soaring property market started to bite. The government sought to restrain the industry after home prices in 70 major cities surged 10.5 per cent in November and December from a year earlier, the most since the index began in July 2005.
Mr So reduced his price estimates for companies including Beijing Capital Land Ltd, China Overseas Land & Investment Ltd and Guangzhou R&F Properties Co.
Some smaller developers may struggle to maintain profit growth and be forced out of business as banks continue to tighten lending, Standard & Poor's said in a Feb 28 report. -- Bloomberg |
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05 Mar 08 12:09 pm |
Premier Wen Names Inflation, Overheating as Key Risks (Update1)
By Li Yanping and Zhang Dingmin
March 5 (Bloomberg) -- Chinese Premier Wen Jiabao named inflation and overheating as the key threats to the world's fourth-biggest economy, pledging more measures to curb lending.
``Financial controls need to be strengthened, and the excessively fast growth in money supply and lending should be curbed,'' Wen said in his report to the annual meeting of the National People's Congress, the legislature, in Beijing today.
Interest rates at a nine-year high and record reserve requirements for banks have failed to stop inflation from accelerating to the fastest pace since 1996. China needs to tame prices without triggering a sharp slowdown as U.S. export demand weakens.
``Policy makers are caught between overheating risks and slowing demand externally that may cool exports and hurt employment,'' said Sun Mingchun, an economist with Lehman Brothers Inc. in Hong Kong.
The government aims to cap price gains at 4.8 percent, the same as the rate in 2007, Wen said. Last year's inflation was the highest in 11 years.
``Uncertainties and potential risks in the international economic environment are increasing,'' Wen said, citing the effects of the U.S. subprime mortgage crisis.
The premier reiterated an 8 percent growth target for 2008, unchanged from last year and in line with goals of 7 percent to 8 percent for the past decade. The economy expanded 11.4 percent in 2007, the fastest pace in 13 years.
`Tight Monetary Policy'
China's key lending and deposit rates are 7.47 percent and 4.14 percent. Banks are required to set aside 15 percent of deposits as reserves. The government also curbs lending via direct instructions to lenders.
China has allowed faster gains by the yuan this year, cutting import costs and pushing up export prices. The currency has risen almost 3 percent versus the U.S. dollar, after gaining 7 percent last year.
China needs to prevent the economy ``from shifting to overheating from relatively fast growth,'' Wen said.
A record trade surplus pumped $262 billion into the financial system last year. Money supply grew at the quickest pace in 20 months in January.
Wen's Reasons
The continuing ``tight'' monetary policy is because of the strong possibility of a rebound in factory and property investment, excessive liquidity and credit, and inflationary pressures, Wen said.
China's expansion may slow to 10.5 percent this year as export demand weakens, according to the State Council Development and Research Center. Liao Qun, chief economist at Citic Ka Wah Bank in Hong Kong, forecasts a 9.8 percent expansion.
China accounted for 20 percent of global growth last year, more than any other nation, according to International Monetary Fund estimates. The IMF expects the world economy to expand 4.1 percent this year, down from 4.9 percent in 2007, on tighter credit and the housing slump that's undermining U.S. growth.
``The market fears some missteps from the Chinese authorities that might exacerbate the global fallout from a possible U.S. recession and spreading credit turmoil,'' said Frank Gong, chief China economist at JPMorgan Chase & Co. in Hong Kong.
Food, Property Prices
Inflation is higher than returns on bank deposits, making it harder to prevent asset bubbles.
Property prices rose in December at the fastest pace since at least 2005. The CSI 300 Index of stocks, after retreating 13 percent this year, has still more than doubled since the start of 2007.
Those hurt most by soaring food costs are the 300 million people estimated by the World Bank to be living in poverty. The price of pork, a Chinese staple, rose 59 percent in January from a year earlier, while cooking oil climbed 37 percent.
Fiscal policy will become more important this year, with the government probably using allowances and minimum wages to cushion the poor and the unemployed from food prices, according to Lehman's Sun.
The government can afford extra infrastructure spending to repair damage from this year's blizzards and to boost the economy if necessary, Sun said. Tax revenue soared 31 percent last year to 4.94 trillion yuan ($695 billion).
The gap between rural and urban incomes is widening and the fastest growth of any major economy is taking an environmental toll, leaving one-third of waterways polluted and the nation's air and water among the world's worst, according to the Organization for Economic Cooperation and Development.
Even China is trembling now.....Beware and Bewarned |
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05 Mar 08 1:38 pm |
| Irregardless how other country perform, I just follow strictly to our STI performance to determine S'pore economy... So far the STI still above the major strong support... so not too much to worry about! |
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05 Mar 08 3:49 pm |
America has boomed and currently busting.
HK, with low interest rates, is setting themselves up for a bust the longer and lower those interest rates go.
Singapore, similarly boomed LAST YEAR. Despite low interest rates, prices are not rising, suggesting that we've reached a point of resistance (unaffordability) inspite of low interest rates (which BTW cannot last forever, certainly not over the 20-30yrs the mortgage will be taken).
The US, and US dollar (built on stilts), is in trouble, and by extension, Asia, which holds vast trillions of US$.
If a panic flight from US$ occurs, the trillions of US$ held by Singapore, Asia, Arabs will be worth less, and worthless. Wealth will vanish into thin air just as easily as it was created.
This will plunge the world into recession. That risk has never been higher. |
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05 Mar 08 3:59 pm |
| I'm waiting to buy US$... anytime soon!! |
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05 Mar 08 4:21 pm |
| Anonymous wrote: | | Irregardless how other country perform, I just follow strictly to our STI performance to determine S'pore economy... So far the STI still above the major strong support... so not too much to worry about! |
STI submerging. Volume is so thin everyday. No more investors. Majority are losing money and soon you will be seeing people selling properties to get cash. |
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05 Mar 08 4:28 pm |
| Anonymous wrote: | | Anonymous wrote: | | Irregardless how other country perform, I just follow strictly to our STI performance to determine S'pore economy... So far the STI still above the major strong support... so not too much to worry about! |
STI submerging. Volume is so thin everyday. No more investors. Majority are losing money and soon you will be seeing people selling properties to get cash. |
Confirm you know nothing about technical analysis!!  |
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05 Mar 08 7:12 pm |
Analysts paint bleak earnings outlook
Earnings per share growth of S'pore listed companies may not even make 6% this year
By TEH HOOI LING
(SINGAPORE) Faced with a small domestic market and a very open economy, Singapore companies are highly susceptible to any global slowdown and are therefore expected to chalk up one of the slowest corporate earnings growths in Asia in 2008. This is the conclusion drawn from an aggregate of all analysts' forecasts by StarMine Professional.
Overall, companies in Singapore may see earnings per share (EPS) improve by a mere 5.9 per cent in 2008, making it the market with the third worst outlook in Asia. Hong Kong fares even worse, with its companies expected to register a 2.5 per cent decline in EPS this year. Malaysia, too, has a negative 0.9 per cent earnings outlook.
StarMine, which compiles analysts' estimates and provides equity research performance ratings, aggregated analysts' forecasts of listed companies' earnings in the coming 12 months and compared them to the trailing 12 months' estimates.
It gives greater weight to forecasts by analysts which have proved to be the most accurate in the past, and to more recent estimates.
According to this data - called Smart Estimates - Thailand is poised to have the region's highest growth in EPS - 50.9 per cent in the coming 12 months.
Hong Kong fares even worse, with its companies expected to register a 2.5 per cent decline in EPS this year. Malaysia, too, has a negative 0.9 per cent earnings outlook.
Second is China with an expected growth of 33.6 per cent. Listed companies in India, Indonesia and Korea are expected to boost their EPS by about 17 to 18 per cent each.
Some broking firms' reports seem to conform with the big picture view presented by StarMine.
In a recent report, Merrill Lynch said that it had done a bottom-up stress test to assess the earnings risks and valuation contraction for the top 30 stocks in the Hang Seng Index (HSI).
'In aggregate, we see potential 9 per cent downside to 2008E earnings. In this case, we would not see any earnings growth in the HSI this year,' Merrill Lynch said.
The US investment bank, however, added that it believed the market outlook was unlikely to do worse than its assumptions. 'The result shows that airlines, consumers, Chinese banks and insurance companies are most sensitive to either macro slowdown or poor A-share market sentiment. HK banks, utilities, oil and telecoms are the most defensive with respectable dividend yield,' it said.
Citigroup, however, thinks that analysts and investors may still be a little over-optimistic.
'Region-wide, a 41.5 per cent decline in earnings should not come as a surprise given that it has happened before (when the United States fell into recession),' said its regional equity strategist Markus Rosgen. 'A 41.5 per cent decline in 2008 earnings would leave the region on a P/E of 26.2 times, well above most investors' comfort zone.'
And on the basis of price-to-book ratio, assuming that any upcoming recession is no better or worse than the last two, stock prices in Asia excluding Japan as a region could fall by 47 per cent from current levels, he warned.
Indeed, in the last 30 days or so, StarMine's data showed that there have been continuous downward revisions of earnings for the region by analysts.
Sri Lanka has had the largest downgrades of earnings, by 5.3 per cent. Corporate Taiwan's EPS estimates were also cut by 3.5 per cent compared with a month ago, while Japan's and Singapore's were trimmed by 2.9 and 2.5 per cent respectively.
The markets whose earnings estimates were upgraded in the last 30 days were Indonesia and India. In aggregate, analysts bumped up their estimates of Indonesian companies by 1.7 per cent, and Indian companies by a marginal 0.4 per cent.
Generally, market prices are pegged to the growth outlook for the various markets. For example, China - with an expected earnings growth of 34 per cent - is trading at 24.7 times forward earnings and six times the book value of the companies' assets.
In contrast, Singapore is trading at just 10.9 times its forward earnings and 2.5 times its book value.
Given that certain markets are valued richly based on the very high earnings expectations, any disappointments will have severe consequences on stock prices.
Meanwhile, there are also markets with high growth expectations but low valuation. Thailand and Korea are trading at just over 11 times their forward earnings, despite their pretty robust earnings growth expectations.
Timothy Wong, head of regional equity research with DBS Vickers Securities, explained that Thailand companies' earnings are coming off from a low base. This accounts for the high EPS growth rates. But the market's overall valuation is low because it is perceived as a higher-risk emerging market.
'On the political front, there remain a number of uncertainties, although things are moving in the right direction. And corporate earnings will come through only if the country progresses on the right course,' he said.
As for Korea, the market has historically traded at a discount to other markets. This is due to the structure of the market where there are a lot of chaebols or conglomerates. Also, there are questions on corporate governance, said Mr Wong.
Calculations by Citigroup's Mr Rosgen also showed investors to have very low expectations of Korea, Taiwan and Thailand, making them the three cheapest markets in Asia. 'Given the risks in the global economy at the moment, we'd rather buy low expectations than high expectations,' he said. |
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06 Mar 08 2:59 am |
| singapore stock will continue to set new low, property price will still maintain or move slighly higher in 2008 |
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06 Mar 08 9:35 am |
Published March 6, 2008 BT
Jim Rogers is downbeat on investment banks
Also says he's not buying S'pore property for now for several reasons
By GENEVIEVE CUA
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(SINGAPORE) Commodities bull Jim Rogers says he is taking long positions on commodities and going short on investment banks, which are likely to lose more money.
Mr Rogers: Thinks the bull market in commodities is probably about one-third of its way through the cycle
'It grieves me to see what Singapore is doing,' he said, referring to the investments that the Government of Singapore Investment Corp (GIC) and Temasek Holdings have made in banks.
GIC and Temasek have made significant investments in Citigroup, Merrill Lynch and UBS.
'(They) are going to lose money,' he said. Banks have been rocked by losses arising from exposure to sub-prime debt and some have seen their share prices go down - even though the shareholders may be sitting only on paper losses.
Mr Rogers was speaking to the press yesterday at a briefing on the impending launch of zero strike participation certificates (zero certs) linked to enhanced Rogers International Commodities Index (RICI) and related sector indexes.
Miles Ashton, ABN Amro head of sales and public distribution (Asia) for private investor products, said a listing date for the cert is yet to be finalised.
The bank has so far issued US$1-2 billion worth of products linked to RICI. The RICI Enhanced Index is an optimised version of RICI, and produced in partnership with Mr Rogers. So far, some US$250 million worth of products have been issued linked to the RICI Enhanced index. 'There is considerable interest,' he said.
The enhanced version seeks to overcome the underperformance that has been seen in commodities indexes in the last few months. Large inflows of capital into the indexes have caused a 'distortion' in the prices of one-month futures contracts, said Mr Ashton. Most indexes automatically invest in one- month futures contracts. The enhanced index seeks to vary the roll schedule, taking into consideration seasonality, liquidity and other factors.
So far, based on backtesting, the enhanced RICI would have generated a cumulative return of 519 per cent between 1998 and October 2007, had it existed since 1998.
It would have outperformed the RICI total return index's 411 per cent return, and the DJAIG index's 234 per cent.
Mr Rogers said the bull market in commodities is probably about one-third of its way through the cycle - which, based on history, could last between 15 and 23 years. He is particularly positive on agriculture.
'Inventory of food is at the lowest it has been for 40-50 years; we may face mass starvation. The world is in a precarious position. Commodities prices will go higher, no matter what the US dollar does,' he said.
Mr Rogers, who has moved to Singapore with his family, said he is not buying Singapore property for now for a number of reasons. 'I expect there to be a slowdown, if not a decline; it is happening already.'
Slower growth, for one, may cause a drop in the number of foreigners here, which could dampen home prices, he said |
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06 Mar 08 9:44 am |
| This Jim Roger will buy how many house at one time?? 500 or 1000? |
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06 Mar 08 11:18 am |
Precisely, 90% of us ALREADY own our property, some own more than 1, so, not much buyers left liao. As we are the owner of our property, whether the prices goes up or down, does it make a difference to us?, Even if the price goes up, our house do not get bigger, in fact we pay more for our property tax... But it make a difference to our next generation, they cannot afford one if the property prices were to increase at this rate.
With current sitaution, there is no way the property prices can sustain. A fall is confirmed, it is by how much, 20 or 30%.
If you are flipping properties now and are caught with few units, i suggest you cut your losses now and pray hard you catch the last bus... |
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06 Mar 08 11:26 am |
Liechtenstein probe likely to boost Singapore
John Burton
Financial Times
Singapore
Monday, 3 March 2008 12:28 pm Singapore Time
Singapore, the world’s fastest growing private banking centre, could be the main beneficiary from the Liechtenstein tax evasion investigation, according to the global head of Société Générale’s private banking business.
“Because of what happened in Liechtenstein, we will see a higher flow of funds into Singapore,” said Daniel Truchi, who previously headed SG Private Banking’s Asian operations from Singapore. “The momentum is accelerating.”
The recent events in Liechtenstein are “sort of like an earthquake for European private banking” because “it undermines client confidence” and its effects will be felt in other European wealth management centres, including Switzerland and Luxembourg, Mr Truchi said.
Singapore will attract more money because its bank secrecy and trust laws governing inheritance are among the tightest in the world, Mr Truchi said. Those who break Singapore bank secrecy laws are subject to harsher punishments than applied in Switzerland. Singapore also has no laws against international tax evasion.
Singapore has introduced new rules on bank secrecy and trusts in the past few years in consultation with the global private banking industry as the south-east Asian city-state has identified wealth management as a growth industry.
Singapore could receive a significant boost as money flows from Europe.
“Switzerland’s private banking business is 10 times bigger than Singapore’s but if we see 10% of those funds moving from Switzerland, it will double the amount of assets managed in Singapore,” Mr Truchi said.
However, Singapore is under growing pressure from the European Union to ease its secrecy rules to help catch tax evaders. The issue has emerged as the main stumbling block in a trade pact being negotiated between Singapore and the EU.
“Singapore is not a tax haven. We are a low-tax country but not a tax haven. The situation that arose in Liechtenstein cannot happen here,” said George Yeo, the Singapore foreign minister, after meeting his German counterpart last week to discuss the issue.
Singapore’s bank secrecy laws are “very important” to Singapore’s development as an international finance centre but “we do not condone drug money or terrorism money or money laundering. These are crimes,” Mr Yeo said.
Mr Truchi said that Singapore is unlikely to bow to EU pressure in the near-term as it seeks to expand its *private banking business. |
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06 Mar 08 3:21 pm |
March 6, 2008
Swiss bank Julius Baer expanding in S'pore
By Grace Ng, Finance Correspondent
SWISS bank Julius Baer, named the fastest-growing financial institution in Singapore last year, is not letting up on its growth momentum here despite the global slowdown.
The bank, which uses the Republic as its hub for regional operations, has just signed a lease for 25,000 sq ft of office space on the fourth floor of Harbour Front Tower 1 to provide additional space to house its expanding operations.
Julius Baer's main office at One George Street is already full just two years after its official opening. It is now considering leasing a third site in town to expand its offices.
'Singapore is the alternative booking centre to Switzerland and a key market for our growth strategy,' said Julius Baer chief executive Alex Widmer on Monday.
The bank has grown rapidly into a full-fledged operation with marketing, operations, products and research banking functions in Singapore. Its turnover over the past three years has grown by a compound annual rate of 170 per cent.
This earned the bank the title of Singapore's fastest-growing finance-banking services company in an annual certification by DP Information Group last year.
The bank, which has about 240 employees in Singapore and Hong Kong, wants to add another 100 staff in the next three to four years.
Bank Julius Baer, its private banking group, intends to hire 50 to 60 relationship managers globally this year. 'But we may hire more than that if we find good quality bankers,' said Mr Widmer.
He expects 2008 to be challenging as the United States recession is likely to affect the growth momentum of all financial sectors including wealth management.
But he still expects Bank Julius Baer to attract net new money of above 6 per cent. It will also continue to invest in talent, information technology and infrastructure to support its growing client base.
Julius Baer, a 'pure-play' private bank without an investment banking arm, has avoided the massive US sub-prime mortgage write-downs that have hit rivals such as Citigroup.
'Being a pure-play bank helps us to focus on what we do best. We cannot dance on too many dance floors. We focus on being a dominant player in just one or two areas,' said Mr Widmer. |
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06 Mar 08 4:25 pm |
Precisely, 90% of us ALREADY own our property, some own more than 1, so, not much buyers left liao. As we are the owner of our property, whether the prices goes up or down, does it make a difference to us?, Even if the price goes up, our house do not get bigger, in fact we pay more for our property tax... But it make a difference to our next generation, they cannot afford one if the property prices were to increase at this rate.
You also believe it will rise further hah... thats why ppl buy more than one property... next time can pass to next generation mah!
So I believe you only have one property, thats why you wish that the boat will come back to you again right??
With current sitaution, there is no way the property prices can sustain. A fall is confirmed, it is by how much, 20 or 30%.
That is your wish, because you missed the boat by 20 to 30%
If you are flipping properties now and are caught with few units, i suggest you cut your losses now and pray hard you catch the last bus...
You don't have to be too worry for flippers lah.. worry for yourself first lah!! |
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06 Mar 08 4:46 pm |
| Anonymous wrote: | Precisely, 90% of us ALREADY own our property, some own more than 1, so, not much buyers left liao. As we are the owner of our property, whether the prices goes up or down, does it make a difference to us?, Even if the price goes up, our house do not get bigger, in fact we pay more for our property tax... But it make a difference to our next generation, they cannot afford one if the property prices were to increase at this rate.
With current sitaution, there is no way the property prices can sustain. A fall is confirmed, it is by how much, 20 or 30%.
If you are flipping properties now and are caught with few units, i suggest you cut your losses now and pray hard you catch the last bus... |
You are right, go to URA transaction down to a trickle. Speculators / Flippers peeing in their pants now.. |
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