Source : The Business Times, September 12, 2008
Coastal cities in mainland China have had the steepest downturns
(GUANGZHOU) China has joined the United States, Britain, Spain and others on the list of nations suffering a real estate decline.
Although the last national statistics showed single- digit growth from July 2007 to July 2008 in the average price of commercial and residential real estate, real estate brokers say prices are down from peaks reached earlier this year, while the number of transactions has plunged.
This downturn comes as the growth rate of Chinese exports has slowed - sharply in yuan terms - and stock markets have plummeted.
The confluence of events has resulted in what economists describe as a deceleration in China's economic growth - although at nearly 10 per cent it remains the envy of many nations.
Brokers say that sales volumes first dropped precipitously here in southeastern China, and then the decline spread across the country.
Faced with few buyers, sellers started cutting their prices for residential and commercial real estate.
In some neighbourhoods in the southeast, prices have dropped by 10 to 40 per cent.
In other parts of the country, transactions have fallen, but prices have only started to follow.
For instance, the number of home sales has plunged by two-thirds in Harbin in the northeast, though prices are down as little as 4 per cent from the same period last year.
'People are thinking more carefully and taking much longer before they decide to buy or not to buy property,' said Hwang Sha, a real estate broker in Xiamen in east-central China.
Cities deep in China's interior are least affected. Dan Yian, a real estate agent in Chongqing, the largest city in southwestern China, said that the volume of housing transactions there had slowed by 20 to 30 per cent so far this year.
But prices have not yet fallen from a stable level of US$730 a square metre, which works out to nearly US$66,000 for a typical apartment of about 970 square feet.
Export-dependent coastal cities in mainland China have had the steepest downturns in their real estate markets.
Some of those problems are starting to make ripples elsewhere in Asia.
Freddy Wu, the chief executive of Hong Kong Property Services, said his real estate agency had seen mainland investors default in recent months on a tenth of their purchases of Hong Kong apartments, forfeiting the down payments that they made.
'A lot of investors from China have their cash tied up in the mainland stock market and in mainland real estate, so they would rather take a loss now', instead of being forced to sell mainland investments at a loss to come up with the cash to complete purchases in Hong Kong, Mr Wu said.
Growth in imports and in fixed-asset investments slowed. Inflation dropped sharply at the consumer level, to 4.9 per cent in August from 6.3 per cent in July.
But unlike the sub- prime meltdown in the United States, and the resulting credit crisis, weaknesses in China's real estate market do not, at this point, appear to pose a threat to the vitality or stability of the financial system.
One reason is that Chinese banks require down payments of at least 30 per cent, giving banks an ample cushion of cash against losses.
American banks frequently did not require down payments. Foreclosures are also rare here, and many Chinese still pay cash for their homes, particularly in rural areas.
Leo Wah, a Chinese banking analyst for Moody's, said that Chinese banks could weather the decline in real estate prices, but cautioned that they could face more challenges if economic troubles spread. - NYT
Friday, September 12, 2008
CapitaLand Rolls Out First Phase Of Mega UAE Project
Source : The Business Times, September 12, 2008
CAPITALAND and Abu Dhabi's Mubadala Development Company yesterday launched the first phase of a massive project in the United Arab Emirates (UAE) capital.
Grand: Rihan Heights is part of an integrated development called Arzanah that will comprise about 9,000 homes, leisure and sports facilities
The phase, called Rihan Heights, is a residential development comprising 14 villas and 854 condominium units on a site of about 38,000 sq metres. CapitaLand could not give any price indication yesterday.
Rihan Heights is part of an integrated development called Arzanah that will comprise about 9,000 homes, leisure and sports facilities and retail space on a 1.4 million sq m site surrounding Abu Dhabi's existing Zayed Stadium.
Arzanah, estimated to cost about US$5-6 billion to develop, is being developed by Capitala, a 49:51 joint venture between CapitaLand and Mubadala, an investment and development vehicle set up and wholly owned by the Abu Dhabi government.
The 854 condo units at Rihan Heights include one to three-bedroom apartments and penthouses. An exclusive invitation to buy has been extended to all UAE nationals who registered interest at the Capitala stand during the Cityscape exhibition in Abu Dhabi earlier this year.
Capitala's acting CEO Wong Heang Fine said: 'Not only are we offering our first phase and starting to build long-term relationships with our buyers, we are doing so with construction already underway and progressing ahead of schedule, and with mortgage finance offered to our buyers through First Gulf Bank.'
CAPITALAND and Abu Dhabi's Mubadala Development Company yesterday launched the first phase of a massive project in the United Arab Emirates (UAE) capital.
Grand: Rihan Heights is part of an integrated development called Arzanah that will comprise about 9,000 homes, leisure and sports facilitiesThe phase, called Rihan Heights, is a residential development comprising 14 villas and 854 condominium units on a site of about 38,000 sq metres. CapitaLand could not give any price indication yesterday.
Rihan Heights is part of an integrated development called Arzanah that will comprise about 9,000 homes, leisure and sports facilities and retail space on a 1.4 million sq m site surrounding Abu Dhabi's existing Zayed Stadium.
Arzanah, estimated to cost about US$5-6 billion to develop, is being developed by Capitala, a 49:51 joint venture between CapitaLand and Mubadala, an investment and development vehicle set up and wholly owned by the Abu Dhabi government.
The 854 condo units at Rihan Heights include one to three-bedroom apartments and penthouses. An exclusive invitation to buy has been extended to all UAE nationals who registered interest at the Capitala stand during the Cityscape exhibition in Abu Dhabi earlier this year.
Capitala's acting CEO Wong Heang Fine said: 'Not only are we offering our first phase and starting to build long-term relationships with our buyers, we are doing so with construction already underway and progressing ahead of schedule, and with mortgage finance offered to our buyers through First Gulf Bank.'
Credit Squeeze Seen Slowing Global Growth
Source : The Business Times, September 12, 2008
GLOBAL financial market turbulence will persist despite the US government taking over mortgage giants Fannie Mae and Freddie Mac, a former US Treasury official warned yesterday.
Mr Dallara: Raps banks, underwriters, ratings agencies for the crisis
Charles Dallara, now managing director of the Washington-based Institute of International Finance (IIF), said the credit squeeze will tighten, leading to a 'period of extended malaise in major economies and slower growth in emerging economies'.
Speaking in Tokyo, he lambasted banks, underwriters, ratings agencies and other financial institutions for bringing about the US sub-prime mortgage crisis and consequent financial sector meltdown. But he praised their subsequent efforts to clean up the mess by cooperating with an IIF move to introduce new principles of conduct for the financial sector.
Mr Dallara said the IIF, whose members include more than 380 of the world's top financial institutions, is setting up a 'markets monitoring group', comprising leading banks and other institutions, to try to forestall future financial system crises. The group will meet periodically to check whether asset prices are moving out of line with economic fundamentals and to look for other signs of systemic stress, he said.
Thirteen months after the outbreak of the sub-prime crisis, 'I cannot say that market turbulence is behind us', Mr Dallara told the Foreign Correspondents Club of Japan. He warned of 'stress ahead' as financial institutions in the US and Europe continue to 'shrink their balance sheets' and struggle to raise capital in an 'extremely difficult environment'.
There has been a 'generalised breakdown in discipline in credit risk assessment and underwriting practices', he said. 'Bankers took their eyes off the ball, credit rating agencies did not do their job' and investors were guilty of similar laxity. Credit tightening has now spread from mortgages market to areas such as auto loans and credit cards, he noted.
One of the most pernicious effects has been that capital-starved banks in North America and Europe have become risk-averse and are unwilling to lend even to sound business borrowers, he said.
An extended slowdown can therefore be expected in the world's major economies for two to three years. And emerging market growth in Asia and elsewhere will inevitably slow as a result.
Mr Dallara said Japanese banks are in relatively good shape because of their limited exposure to the sub-prime fallout. They have begun to rebuild foreign lending and could pursue loans growth overseas, as well as mergers and acquisitions involving distressed foreign financial institutions.
The IIF managing director is holding meetings in Japan and South Korea with senior government officials and heads of financial institutions to gather support for compliance with principles of conduct and best-practice recommendations drawn up by 60 leading financial firms over nine months in the aftermath of the sub-prime crisis.
GLOBAL financial market turbulence will persist despite the US government taking over mortgage giants Fannie Mae and Freddie Mac, a former US Treasury official warned yesterday.
Mr Dallara: Raps banks, underwriters, ratings agencies for the crisisCharles Dallara, now managing director of the Washington-based Institute of International Finance (IIF), said the credit squeeze will tighten, leading to a 'period of extended malaise in major economies and slower growth in emerging economies'.
Speaking in Tokyo, he lambasted banks, underwriters, ratings agencies and other financial institutions for bringing about the US sub-prime mortgage crisis and consequent financial sector meltdown. But he praised their subsequent efforts to clean up the mess by cooperating with an IIF move to introduce new principles of conduct for the financial sector.
Mr Dallara said the IIF, whose members include more than 380 of the world's top financial institutions, is setting up a 'markets monitoring group', comprising leading banks and other institutions, to try to forestall future financial system crises. The group will meet periodically to check whether asset prices are moving out of line with economic fundamentals and to look for other signs of systemic stress, he said.
Thirteen months after the outbreak of the sub-prime crisis, 'I cannot say that market turbulence is behind us', Mr Dallara told the Foreign Correspondents Club of Japan. He warned of 'stress ahead' as financial institutions in the US and Europe continue to 'shrink their balance sheets' and struggle to raise capital in an 'extremely difficult environment'.
There has been a 'generalised breakdown in discipline in credit risk assessment and underwriting practices', he said. 'Bankers took their eyes off the ball, credit rating agencies did not do their job' and investors were guilty of similar laxity. Credit tightening has now spread from mortgages market to areas such as auto loans and credit cards, he noted.
One of the most pernicious effects has been that capital-starved banks in North America and Europe have become risk-averse and are unwilling to lend even to sound business borrowers, he said.
An extended slowdown can therefore be expected in the world's major economies for two to three years. And emerging market growth in Asia and elsewhere will inevitably slow as a result.
Mr Dallara said Japanese banks are in relatively good shape because of their limited exposure to the sub-prime fallout. They have begun to rebuild foreign lending and could pursue loans growth overseas, as well as mergers and acquisitions involving distressed foreign financial institutions.
The IIF managing director is holding meetings in Japan and South Korea with senior government officials and heads of financial institutions to gather support for compliance with principles of conduct and best-practice recommendations drawn up by 60 leading financial firms over nine months in the aftermath of the sub-prime crisis.
Foreign Workers Prefer To Stay Away From Residential Estates
Source : Channel NewsAsia, 11 September 2008
The idea of a self-contained township for foreign workers has been given a thumbs-up by foreign workers themselves. But foreign worker advocates said more should be done to help these workers integrate with the wider community.
Singaporeans who do not want foreign workers living near them cite security concerns and even a downgrade in their property value as reasons.
But are these fears rational? Some foreign workers welfare groups said it is simply a fear of the unknown. That is why they are advocating that foreign workers be integrated with the wider community through a more structured orientation programme.
"I think community centres are a good start. If they are able to do social activities that can involve both migrant workers along with its local community, either through festivals or through sports activities or National Day Parade, it's a good opportunity to bring the two groups together," said Sha Najak, helpline manager at Transient Workers Count Too.
She added that current orientation roadshows may be a little too top-down in approach.
"But some foreign workers said they are quite happy to live among themselves, away from housing estates.
"Wherever the dormitories, if it is away from the residents, it's better because when it's very near to the residents' area, the workers have to go to the same FairPrice supermarket, or ... canteen, they might misunderstand each other," said Keve Xavier, a foreign worker.
But others said they would like to get to know Singaporeans better to ease misunderstandings.
Really, we feel shame too (when) the people go and disrupt everybody, and nobody likes to stay with those people," said Nathan Neduzcheliyan, also a foreign worker.
"We want to establish a good relationship between the Singaporeans and workers," said foreign worker Humayun Kabeer.
Responding to Channel NewsAsia, the People's Association said some grassroots organisations have engaged foreign workers through ad-hoc programmes aimed at helping them integrate into the community.
The government has said that more Singaporeans will find themselves living in the midst of foreign workers as Singapore expands.
While no solution has been reached yet for residents of Serangoon Gardens, the National Development Ministry is looking into the issue and is expected to respond soon. - CNA /ls
The idea of a self-contained township for foreign workers has been given a thumbs-up by foreign workers themselves. But foreign worker advocates said more should be done to help these workers integrate with the wider community.
Singaporeans who do not want foreign workers living near them cite security concerns and even a downgrade in their property value as reasons. But are these fears rational? Some foreign workers welfare groups said it is simply a fear of the unknown. That is why they are advocating that foreign workers be integrated with the wider community through a more structured orientation programme.
"I think community centres are a good start. If they are able to do social activities that can involve both migrant workers along with its local community, either through festivals or through sports activities or National Day Parade, it's a good opportunity to bring the two groups together," said Sha Najak, helpline manager at Transient Workers Count Too.
She added that current orientation roadshows may be a little too top-down in approach.
"But some foreign workers said they are quite happy to live among themselves, away from housing estates. "Wherever the dormitories, if it is away from the residents, it's better because when it's very near to the residents' area, the workers have to go to the same FairPrice supermarket, or ... canteen, they might misunderstand each other," said Keve Xavier, a foreign worker.
But others said they would like to get to know Singaporeans better to ease misunderstandings.
Really, we feel shame too (when) the people go and disrupt everybody, and nobody likes to stay with those people," said Nathan Neduzcheliyan, also a foreign worker.
"We want to establish a good relationship between the Singaporeans and workers," said foreign worker Humayun Kabeer.
Responding to Channel NewsAsia, the People's Association said some grassroots organisations have engaged foreign workers through ad-hoc programmes aimed at helping them integrate into the community.
The government has said that more Singaporeans will find themselves living in the midst of foreign workers as Singapore expands.
While no solution has been reached yet for residents of Serangoon Gardens, the National Development Ministry is looking into the issue and is expected to respond soon. - CNA /ls
High-End Home Market Going Off The Boil
Source : The Business Times, September 12, 2008
Developers are testing the market to see if their projects will sell
MOST developers are still holding off launching luxury condominiums, but a few projects are slowly being put on the market.
Frasers Centrepoint has launched and sold about 30 units at its 302-unit Martin Place Residences, with apartments going for about $1,800 per square foot (psf) on average.
Martin Place Residences is in the River Valley neighbourhood in District 9.
And nearby, SC Global Developments said last week it had released and sold 30 apartments in its Martin No 38, which has 91 units in total.
The average price fetched was $2,130 psf, with sales coming at $1,881-$2,494 psf.
Developers are pushing out luxury condo projects cautiously, with most releasing them in small phases.
Many are also trying to test the market to see if their high-end homes will sell and gauge how much buyers will be willing to pay.
Yesterday, the en-bloc purchasers of Lincoln Lodge said they will be launching the new development on the site - Lincoln Suites - by early next year.
But the developers - Koh Brothers, Heeton Holdings, KSH Holdings and Lian Beng Group, which each have an equal stake in the project - will only release some of the project's 175 units in the first phase.
And current residents of Lincoln Lodge will probably be allowed to stay in their homes well into next year.
'We are not going to launch all the units at one go,' said Francis Koh, chief executive of Koh Brothers. 'The price will be determined by buyers' willingness to buy.'
Prices will be similar to or 'even lower than' comparable projects nearby, Mr Koh said.
Units in the newly-built nearby development, Park Infinia at Wee Nam, are going for $1,300-$1,600, property consultants said.
The consortium bought Lincoln Lodge for $243 million, or $1,449 psf per plot ratio, including an estimated development charge of $413,000, in June last year at the height of the en bloc frenzy.
They then decided to hold off tearing down the existing project, and have instead allowed occupants to keep renting apartments for at least six months from the sale completion date in July this year.
Now, the showflat for Lincoln Suites will be built with Lincoln Lodge still standing.
Depending on the market response, the leases of the tenants could be extended past January next year.
Developers are testing the market to see if their projects will sell
MOST developers are still holding off launching luxury condominiums, but a few projects are slowly being put on the market.
Frasers Centrepoint has launched and sold about 30 units at its 302-unit Martin Place Residences, with apartments going for about $1,800 per square foot (psf) on average.
Martin Place Residences is in the River Valley neighbourhood in District 9.
And nearby, SC Global Developments said last week it had released and sold 30 apartments in its Martin No 38, which has 91 units in total.
The average price fetched was $2,130 psf, with sales coming at $1,881-$2,494 psf.
Developers are pushing out luxury condo projects cautiously, with most releasing them in small phases.
Many are also trying to test the market to see if their high-end homes will sell and gauge how much buyers will be willing to pay.
Yesterday, the en-bloc purchasers of Lincoln Lodge said they will be launching the new development on the site - Lincoln Suites - by early next year.
But the developers - Koh Brothers, Heeton Holdings, KSH Holdings and Lian Beng Group, which each have an equal stake in the project - will only release some of the project's 175 units in the first phase.
And current residents of Lincoln Lodge will probably be allowed to stay in their homes well into next year.
'We are not going to launch all the units at one go,' said Francis Koh, chief executive of Koh Brothers. 'The price will be determined by buyers' willingness to buy.'
Prices will be similar to or 'even lower than' comparable projects nearby, Mr Koh said.
Units in the newly-built nearby development, Park Infinia at Wee Nam, are going for $1,300-$1,600, property consultants said.
The consortium bought Lincoln Lodge for $243 million, or $1,449 psf per plot ratio, including an estimated development charge of $413,000, in June last year at the height of the en bloc frenzy.
They then decided to hold off tearing down the existing project, and have instead allowed occupants to keep renting apartments for at least six months from the sale completion date in July this year.
Now, the showflat for Lincoln Suites will be built with Lincoln Lodge still standing.
Depending on the market response, the leases of the tenants could be extended past January next year.
林肯苑原址将建高档私宅
Source :《联合早报》September 12, 2008
位于第11邮区，已集体出售的林肯苑（Lincoln Lodge）地段将重新发展成两座高29层楼，拥有175个单位和空中健身室的高档私宅。这个项目估计会在年底或明年初才推出。
四名发展商之一的许兄弟（Koh Brothers）集团透露，林肯苑目前还有租金收入，并不急于把现有的两栋建筑拆除重建。示范单位估计会在年底前建好，但租户却暂时不需要迁出。
“龙之居”在第24层楼建有13米长的高空天桥，也是高空健身室.
许兄弟董事经理兼总裁许庆祥透露，林肯苑的地段很大，示范单位将建在林肯苑的户外停车场内，发展商会先售卖单位，或许在明年中才拆除现有建筑。
四公司联合发展
这个项目是由许兄弟、喜敦控股（Heeton）、金成兴控股（KSH Holdings）和联明建筑（Lian Beng）组成的财团联手发展，四家公司在这个项目中各占25％的股份，并在项目的发展上“分工”。
许庆祥说，由于许兄弟负责市场行销，因此由他来介绍项目的设计和卖点。
这个财团是在去年6月中，本地房地产高峰时期，以2亿4300万元（即容积率每平方英尺1449元），争取到林肯苑的发展权，但却一直没有将项目推出市场售卖，而是从发展商“摇身一变”，成为业主，从今年7月份开始，通过短期租约的方式，将单位出租给租户。
发展商透露，林肯苑目前的月租介于2000至3000元，相信比市价低，现有的租户中，有80％是新租户（并非林肯苑的原来业主）。租户可一直租用这些单位半年，接下来也有每个月延长租约的选择。
许庆祥说，这是个“双管齐下”的方案，在等待设计出炉的同时，也可以收取租金。等到示范单位建好后，才分阶段将单位推出售卖。
推出时才决定售价
许庆祥说：“我们会在项目要推出时才决定售价，但在第一阶段推出时，会订立一个吸引买家的价格（price to sell），虽然这是个高档项目，却不一定会以高档的价格出售。”至于接下来的价格走势，则将视市场情况而定。
市场人士认为，本地房地产市场淡静，中高档私宅在缺乏买家撑腰下面对非常大的下跌压力。这一带的高档房地产价格，或许会在每平方英尺2000元或以下，取决于接下来的市场情况而定。
许庆祥说：“如果反应有欠理想，那就继续出租吧。”但财团还是看好本地房市。
目前建筑成本猛涨，财团也不担忧，因为除了能分摊风险和盈利外，四名合伙人当中，有三家是A1评级的建筑承包商，且建筑材料价格已开始出现下滑迹象。
这幅距离诺维那地铁站只有少过2分钟路程的林肯苑地段，新设计才刚出炉，负责设计的王与王建筑绘测公司（Ong & Ong Architects）的董事经理刘江彦表示，设计符合绿色建筑标志的标准。
许庆祥说，除了在第24层楼建造高空天桥，衔接两座建筑外，这个13米长的“天桥”也是健身室。
除此之外，每个单位也将装置独特的Wi-Fi分区系统，在同一个单位内的不同房间，可通过中央空置系统和扬声器听到不同的音乐。他们也会从日本引进一般只在酒店才使用的，拥有喷水装置的马桶。
新项目取名为“龙之居”（Lincoln Suites），在设计上也将出现独特的“龙角”造型。
位于第11邮区，已集体出售的林肯苑（Lincoln Lodge）地段将重新发展成两座高29层楼，拥有175个单位和空中健身室的高档私宅。这个项目估计会在年底或明年初才推出。
四名发展商之一的许兄弟（Koh Brothers）集团透露，林肯苑目前还有租金收入，并不急于把现有的两栋建筑拆除重建。示范单位估计会在年底前建好，但租户却暂时不需要迁出。
“龙之居”在第24层楼建有13米长的高空天桥，也是高空健身室. 许兄弟董事经理兼总裁许庆祥透露，林肯苑的地段很大，示范单位将建在林肯苑的户外停车场内，发展商会先售卖单位，或许在明年中才拆除现有建筑。
四公司联合发展
这个项目是由许兄弟、喜敦控股（Heeton）、金成兴控股（KSH Holdings）和联明建筑（Lian Beng）组成的财团联手发展，四家公司在这个项目中各占25％的股份，并在项目的发展上“分工”。
许庆祥说，由于许兄弟负责市场行销，因此由他来介绍项目的设计和卖点。
这个财团是在去年6月中，本地房地产高峰时期，以2亿4300万元（即容积率每平方英尺1449元），争取到林肯苑的发展权，但却一直没有将项目推出市场售卖，而是从发展商“摇身一变”，成为业主，从今年7月份开始，通过短期租约的方式，将单位出租给租户。
发展商透露，林肯苑目前的月租介于2000至3000元，相信比市价低，现有的租户中，有80％是新租户（并非林肯苑的原来业主）。租户可一直租用这些单位半年，接下来也有每个月延长租约的选择。
许庆祥说，这是个“双管齐下”的方案，在等待设计出炉的同时，也可以收取租金。等到示范单位建好后，才分阶段将单位推出售卖。
推出时才决定售价
许庆祥说：“我们会在项目要推出时才决定售价，但在第一阶段推出时，会订立一个吸引买家的价格（price to sell），虽然这是个高档项目，却不一定会以高档的价格出售。”至于接下来的价格走势，则将视市场情况而定。
市场人士认为，本地房地产市场淡静，中高档私宅在缺乏买家撑腰下面对非常大的下跌压力。这一带的高档房地产价格，或许会在每平方英尺2000元或以下，取决于接下来的市场情况而定。
许庆祥说：“如果反应有欠理想，那就继续出租吧。”但财团还是看好本地房市。
目前建筑成本猛涨，财团也不担忧，因为除了能分摊风险和盈利外，四名合伙人当中，有三家是A1评级的建筑承包商，且建筑材料价格已开始出现下滑迹象。
这幅距离诺维那地铁站只有少过2分钟路程的林肯苑地段，新设计才刚出炉，负责设计的王与王建筑绘测公司（Ong & Ong Architects）的董事经理刘江彦表示，设计符合绿色建筑标志的标准。
许庆祥说，除了在第24层楼建造高空天桥，衔接两座建筑外，这个13米长的“天桥”也是健身室。
除此之外，每个单位也将装置独特的Wi-Fi分区系统，在同一个单位内的不同房间，可通过中央空置系统和扬声器听到不同的音乐。他们也会从日本引进一般只在酒店才使用的，拥有喷水装置的马桶。
新项目取名为“龙之居”（Lincoln Suites），在设计上也将出现独特的“龙角”造型。
新鸿基看好香港楼市前景
Source : 《联合早报》September 12, 2008
香港最大的地产发展商新鸿基地产认为，虽然香港楼市近期出现波动，但中长远而言，集团仍然看好当地楼市前景。
新地副主席郭炳江昨天出席集团业绩发布会时说，未来数年香港的新住宅供应少，每年只有1万2000多个新推出单位，加上人均收入持续增长，而同一时间银行的抵押贷款利率仍处于历史低位，故他对未来楼盘销售很有信心。
郭炳江强调，楼市要看长期，“事实上，中国经济在未来几年仍会增长，包括香港在内的亚洲地区都会受惠，这个营商环境有利香港楼市发展。”
新地公布的全年业绩报告指出，集团去年盈利276亿港元（下同，51亿新元）较前年同期增长30％。期内投资物业重估收益158亿5000万元，撇除有关变动后，基础盈利122亿元，增长6％。不过，来自物业销售的盈利只有64亿4000万元，减少16％。
展望市场前景，新地在报告中指出，市场基本因素良好，经济持续增长，置业人士负担能力强，加上抵押贷款利率偏低，租金回报理想，都支持香港住宅物业需求。集团未来9个月会推出多个住宅项目。
根据新地的目标，集团希望明年的售楼收益达到200亿元，当中180亿元来自香港；租金收入方面，预期净租金收益70亿元，较今年的60亿元有所增加。
新地旗下代理执行董事周国贤昨天在记者会上表示，虽然近日股市波动，但相信股市对楼市带来的影响只属于心理因素，加上购买新地旗下楼盘的买家以用家为主，预料对公司物业销售影响不大。
另一家香港地产公司恒地营业部总经理谢伟铨昨天也指出，过去一至两个月，香港楼市成交可能受股市及外围经济气氛影响而出现偏低，但当地物业卖家叫价并无大幅下调，他相信今年全年香港物业成交量会与去年持平。
谢伟铨还说，虽然市场指股市不景气会影响楼市，但大陆及香港的经济基本因素仍然向好，他估计未来楼市价格大致平稳，但不排除会有2％至3％下调。
至于有消息指环球金融业不景气，将会打击香港豪宅市场，谢伟铨反驳，从事金融业的高层对住宅有一定要求，加上早前针对从事金融业的豪宅盘销情不俗，因此有理由相信香港豪宅市场不会受金融风暴打击。
香港最大的地产发展商新鸿基地产认为，虽然香港楼市近期出现波动，但中长远而言，集团仍然看好当地楼市前景。
新地副主席郭炳江昨天出席集团业绩发布会时说，未来数年香港的新住宅供应少，每年只有1万2000多个新推出单位，加上人均收入持续增长，而同一时间银行的抵押贷款利率仍处于历史低位，故他对未来楼盘销售很有信心。
郭炳江强调，楼市要看长期，“事实上，中国经济在未来几年仍会增长，包括香港在内的亚洲地区都会受惠，这个营商环境有利香港楼市发展。”
新地公布的全年业绩报告指出，集团去年盈利276亿港元（下同，51亿新元）较前年同期增长30％。期内投资物业重估收益158亿5000万元，撇除有关变动后，基础盈利122亿元，增长6％。不过，来自物业销售的盈利只有64亿4000万元，减少16％。
展望市场前景，新地在报告中指出，市场基本因素良好，经济持续增长，置业人士负担能力强，加上抵押贷款利率偏低，租金回报理想，都支持香港住宅物业需求。集团未来9个月会推出多个住宅项目。
根据新地的目标，集团希望明年的售楼收益达到200亿元，当中180亿元来自香港；租金收入方面，预期净租金收益70亿元，较今年的60亿元有所增加。
新地旗下代理执行董事周国贤昨天在记者会上表示，虽然近日股市波动，但相信股市对楼市带来的影响只属于心理因素，加上购买新地旗下楼盘的买家以用家为主，预料对公司物业销售影响不大。
另一家香港地产公司恒地营业部总经理谢伟铨昨天也指出，过去一至两个月，香港楼市成交可能受股市及外围经济气氛影响而出现偏低，但当地物业卖家叫价并无大幅下调，他相信今年全年香港物业成交量会与去年持平。
谢伟铨还说，虽然市场指股市不景气会影响楼市，但大陆及香港的经济基本因素仍然向好，他估计未来楼市价格大致平稳，但不排除会有2％至3％下调。
至于有消息指环球金融业不景气，将会打击香港豪宅市场，谢伟铨反驳，从事金融业的高层对住宅有一定要求，加上早前针对从事金融业的豪宅盘销情不俗，因此有理由相信香港豪宅市场不会受金融风暴打击。
为凸窗和植物槽“请命” 业者盼政府改变纳入建筑面积决定
Source :《联合早报》September 12, 2008
能为室内增添绿意的植物槽（planter boxes），以及让住户有更宽广视野及更好的采光作用的凸窗（bay window），将从下月7日起，丧失“豁免权”，必须被纳入整栋公寓的可建筑面积内（gross floor area, GFA）。
消息透露，房地产发展商公会（REDAS）和业者正与政府对话，希望说服政府改变主意，或者更灵活地执行这个新条例。
明年6月竣工的首批私人组屋 The Premiere，也有凸窗和植物槽。
政府自1993年起，允许凸窗和植物槽拥有豁免权，不算在整栋建筑物的可建筑面积内。当时的目的是为了鼓励本地建筑物在室内增添绿意，而不是一栋又一栋死气沉沉的钢骨石墙。
由于凸窗和植物槽能扩大室内面积、增添美感，让单位卖得更高的价钱，又不会“吃”掉发展商有限的可建筑面积“固打”，所以近年落成的共管公寓大多都能看到凸窗和植物槽。
今年7月，市区重建局突然宣布，从10月7日开始取消豁免权，让不少业者感到意外和措手不及。由于改变规则将使发展商可以售卖的面积减少进而使售价下调，有市场人士猜测，政府可能是为了制止私宅价格往上升以及缓和建筑业吃紧的情况才选择在这个时候行动。
据消息说，房地产发展商公会、一些发展商和新加坡建筑师协会（SIA）过去一个月来联合向市建局反映，尝试说服当局改变主意。
发展商公会和一些发展商向本报证实，它们正尝试和有关当局沟通，而新加坡建筑师协会则表示已向政府提呈意见，但没有给予详情。市建局也表示已获得业界人士反映，目前正进行检讨。
一名业内人士指出，政府和买家认为发展商提供凸窗和植物槽设计是走漏洞以便赚更多的钱，但这个观念是错误的，因为建造凸窗和植物槽也需要花钱，而花费可能高达10％的建筑成本。
她说：“现在建筑成本上涨，如果省去凸窗和植物槽设计，不但可降低建筑成本，而且还能更快完工。不过，不允许豁免加入这类设计将限制建筑师发挥的空间，使本地建筑设计开倒车，回复到早期平坦乏味、高高直直的样子。凸窗和植物槽设计是一种生活方式。”她还说，相对延迟付款计划(deferred payment scheme)，政府还是有控制权，若当局认为发展商的设计会使买家吃亏，大可不批准。
新条例会使发展商利润缩水
除了设计，另一名不愿身份见报的发展商则提出，新条例将会使发展商的利润缩水，加上建筑成本，它们在买地时不得不将价格调低5％至10％。
市建局日前颁发的丹那美拉地铁站对面的一幅供私宅发展的地段就是一个例子。由于新条例将使发展商利润缩水，其容积率每平方英尺282元的投标价要比附近的的Casa Merah的318元来得低。
对于突然改变规则，市建局在回答本报询问时表示，这是经例常检讨规则后作出的决定。根据该局对已完工的项目进行的调查显示，平均仅有10％获批准建设的植物槽被使用做种植用途。此外，许多屋主也向该局申请把植物槽改换为其他用途，比如阳台等。
市建局说，业主反映既然植物槽被计算在房子的面积和售价内，若他们对栽种植物没有兴趣，他们应有更大的空间将它转换为其他用途。这些业主提供的原因包括防止积水和伊蚊的滋生。
至于凸窗，市建局指出，这原本指的是从地面凸起的窗台，只限建筑的一小部分，作为“点缀”用途，然而，凸窗设计却成为大部分新私宅项目的显著特征，而内部设计方面也没有和房子内部的地面区分，作用是为了扩充房子的面积。
由于原意被扭曲，市建局决定取消豁免凸窗和植物槽纳入可建筑面积内的规则。不过，若发展商在阳台设计内增设植物槽则能享受另外10％可建筑面积。
并非所有业者都支持旧条例
不过，也不是所有的房地产业者都支持原来的条例。新加坡建筑师学会前会长陈干从就认为，凸窗和植物槽的设计非常不环保，让房子内部直受阳光曝晒，使屋内的温度提高30％。此外，有别于业者所说，陈干从表示，这类设计其实是限制本地建筑师发挥创艺的罪魁祸首之一。
他说：“由于建筑师有压力必须包括这类设施来增加可出售的楼面，目前几乎所有的新项目都有凸窗和植物槽的设计。政府取消这个规则不但能重新让建筑师发挥创意，而且能鼓励建设节能的绿色公寓。”
能为室内增添绿意的植物槽（planter boxes），以及让住户有更宽广视野及更好的采光作用的凸窗（bay window），将从下月7日起，丧失“豁免权”，必须被纳入整栋公寓的可建筑面积内（gross floor area, GFA）。
消息透露，房地产发展商公会（REDAS）和业者正与政府对话，希望说服政府改变主意，或者更灵活地执行这个新条例。
明年6月竣工的首批私人组屋 The Premiere，也有凸窗和植物槽。政府自1993年起，允许凸窗和植物槽拥有豁免权，不算在整栋建筑物的可建筑面积内。当时的目的是为了鼓励本地建筑物在室内增添绿意，而不是一栋又一栋死气沉沉的钢骨石墙。
由于凸窗和植物槽能扩大室内面积、增添美感，让单位卖得更高的价钱，又不会“吃”掉发展商有限的可建筑面积“固打”，所以近年落成的共管公寓大多都能看到凸窗和植物槽。
今年7月，市区重建局突然宣布，从10月7日开始取消豁免权，让不少业者感到意外和措手不及。由于改变规则将使发展商可以售卖的面积减少进而使售价下调，有市场人士猜测，政府可能是为了制止私宅价格往上升以及缓和建筑业吃紧的情况才选择在这个时候行动。
据消息说，房地产发展商公会、一些发展商和新加坡建筑师协会（SIA）过去一个月来联合向市建局反映，尝试说服当局改变主意。
发展商公会和一些发展商向本报证实，它们正尝试和有关当局沟通，而新加坡建筑师协会则表示已向政府提呈意见，但没有给予详情。市建局也表示已获得业界人士反映，目前正进行检讨。
一名业内人士指出，政府和买家认为发展商提供凸窗和植物槽设计是走漏洞以便赚更多的钱，但这个观念是错误的，因为建造凸窗和植物槽也需要花钱，而花费可能高达10％的建筑成本。
她说：“现在建筑成本上涨，如果省去凸窗和植物槽设计，不但可降低建筑成本，而且还能更快完工。不过，不允许豁免加入这类设计将限制建筑师发挥的空间，使本地建筑设计开倒车，回复到早期平坦乏味、高高直直的样子。凸窗和植物槽设计是一种生活方式。”她还说，相对延迟付款计划(deferred payment scheme)，政府还是有控制权，若当局认为发展商的设计会使买家吃亏，大可不批准。
新条例会使发展商利润缩水
除了设计，另一名不愿身份见报的发展商则提出，新条例将会使发展商的利润缩水，加上建筑成本，它们在买地时不得不将价格调低5％至10％。
市建局日前颁发的丹那美拉地铁站对面的一幅供私宅发展的地段就是一个例子。由于新条例将使发展商利润缩水，其容积率每平方英尺282元的投标价要比附近的的Casa Merah的318元来得低。
对于突然改变规则，市建局在回答本报询问时表示，这是经例常检讨规则后作出的决定。根据该局对已完工的项目进行的调查显示，平均仅有10％获批准建设的植物槽被使用做种植用途。此外，许多屋主也向该局申请把植物槽改换为其他用途，比如阳台等。
市建局说，业主反映既然植物槽被计算在房子的面积和售价内，若他们对栽种植物没有兴趣，他们应有更大的空间将它转换为其他用途。这些业主提供的原因包括防止积水和伊蚊的滋生。
至于凸窗，市建局指出，这原本指的是从地面凸起的窗台，只限建筑的一小部分，作为“点缀”用途，然而，凸窗设计却成为大部分新私宅项目的显著特征，而内部设计方面也没有和房子内部的地面区分，作用是为了扩充房子的面积。
由于原意被扭曲，市建局决定取消豁免凸窗和植物槽纳入可建筑面积内的规则。不过，若发展商在阳台设计内增设植物槽则能享受另外10％可建筑面积。
并非所有业者都支持旧条例
不过，也不是所有的房地产业者都支持原来的条例。新加坡建筑师学会前会长陈干从就认为，凸窗和植物槽的设计非常不环保，让房子内部直受阳光曝晒，使屋内的温度提高30％。此外，有别于业者所说，陈干从表示，这类设计其实是限制本地建筑师发挥创艺的罪魁祸首之一。
他说：“由于建筑师有压力必须包括这类设施来增加可出售的楼面，目前几乎所有的新项目都有凸窗和植物槽的设计。政府取消这个规则不但能重新让建筑师发挥创意，而且能鼓励建设节能的绿色公寓。”