Tuesday, August 4, 2009

Property Launches Here See Sustained Interest

Source : The Business Times, August 4, 2009

Strong interest at the weekend despite government's warnings to buyers against over-committing

Property launches again attracted strong interest at the weekend - days after the government warned buyers against over-committing themselves.

'Our ground checks last weekend revealed that buyers continued to throng showflats,' DMG & Partners Securities analyst Brandon Lee said in a note yesterday.

TID - a joint venture between Hong Leong Group and Japan-listed developer Mitsui Fudosan - has sold all 297 units at Optima@Tanah Merah since the public preview began on Thursday last week. Buyers include HDB flat owners and private property owners, who took up the units at an average price of about $810 per sq ft.

In response to the huge turnout at the showflat, TID held two rounds of balloting for apartments at the 99-year leasehold project. Some 600 ballots were cast.

The 'showflat was filled to the brim, with over 200 people at any one point, and insufficient agents to tend to all visitors', Mr Lee said in his note.

Far East Organization reported good sales for Centro Residences at Ang Mo Kio. About 65 per cent - or 93 of 144 units released in the first phase - have been sold at prices from $1,100 psf.

According to the group's executive director and property sales chief operating officer Chia Boon Kuah, most buyers took up units for their own occupation or as investments for their children. Half of them are HDB upgraders, while the other half are private housing owners.

Seeing potential for property values in the Ang Mo Kio area to rise, Far East plans to market the 329-unit Centro Residences in phases until it obtains its temporary occupation permit (TOP). Phase two sales will begin next year and phase three the year after next. 'We are confident that Centro Residences will be fully sold before TOP,' Mr Chia said.

National Development Minister Mah Bow Tan said last Wednesday that signs of speculation are re-emerging in the property market. The government is watching the situation closely, he stressed. Industry views are mixed as to whether his comments will cool buying sentiment.

Steepest Fall In Office Occupancy Cost Here

Source : The Business Times, August 4, 2009

Some firms may expand as rents fall and the economy stabilises

A plunge in Grade A office rents has raised Singapore's competitive edge somewhat. According to Colliers International, office occupancy costs here were the fourth-highest among 26 Asia-Pacific cities in Q2 this year - down a notch from a quarter ago.

Getting cheaper: Singapore fell from third to fourth place in a ranking of office occupancy costs after rents slid 26.2 per cent quarter-on-quarter, averaging at $6.73 psf per month in Q2

As rents stay weak while the economy stabilises, property consultants also expect some companies to take advantage of the situation to expand.

Colliers noted that monthly gross rents for Grade A offices in Singapore's central business district (CBD) posted the sharpest fall in Q2, compared with other major cities in the region. Rents slid 26.2 per cent quarter-on-quarter, averaging at $6.73 psf per month in Q2.

As a result, Singapore fell from third to fourth place in a ranking of office occupancy costs. Tokyo remained the most expensive place in the Asia-Pacific to rent an office - average Grade A CBD office rents there were 2.2 times that of Singapore's, up from 1.6 times in Q1.

Hong Kong also kept its No. 2 spot. Average Grade A CBD office rents there were 1.4 times that of Singapore's, growing from 1.2 times in Q1. Ho Chi Minh City rose one notch to replace Singapore in third place on the list.

Colliers expects office rents in Singapore to continue falling up till H1 next year, albeit at a slower pace. This is because demand from most companies is likely to stay subdued, while supply of shadow space could increase.

This means that Singapore could continue slipping in the list of the most expensive Asia-Pacific cities to rent an office, said Colliers research and advisory director Tay Huey Ying.

While most companies may be cautious about expansion, some may take advantage of lower rents to grow in anticipation of better times ahead. 'Flight to quality and opportunistic expansion can be expected to intensify on the back of continued rental weakness,' Ms Tay said.

Cushman and Wakefield managing director Donald Han agreed, noting that companies have been more willing to relocate to larger premises since May or June this year.

'The economy now looks like it's on the mend' and some companies 'are budgeting for a possible increase in headcount' by some 10-15 per cent, he said.

Mr Han added that a few quarters ago, most firms were still watching the rental market and would rather extend their leases than commit to more space. As rental declines moderate, 'tenants are going to say - how low can it go?'

Colliers cited Dresdner Bank as an example of companies expanding or upgrading their space requirements as office rents fall. The bank will be moving from Tung Centre at Collyer Quay to 71 Robinson Road where it will take up 20,000 sq ft of space.

Property Fund Snaps Up 21 Condo Units For $65m

Source : The Business Times, August 4, 2009

Other big-ticket transactions could rev up investment sales in second half

IN one of the first bulk sales of apartments since the economic crisis unfolded last year, a property fund is understood to have purchased the remaining 21 units at Sui Generis condo at Balmoral Crescent for $65 million.

Sui Generis: Market watchers say the $1,260 psf price is about half the average price achieved for project in 2007 and 2008

The price works out to about $1,260 per square foot on average. The units are said to be located throughout the freehold project, which is slated for completion around the second quarter of next year. The condo comprises three blocks - seven, nine and 12 storeys high. It is being developed by a joint venture involving United Engineers and Kajima.

CB Richard Ellis is understood to have brokered the latest sale, but it declined to comment on the transaction.

Market watchers commented, however, that $1,260 psf average price for the latest deal is about half the average price of about $2,460 psf achieved for the earlier 19 units in the 40-unit development that were sold in 2007 and 2008 at prices ranging from $1,991 psf to $2,717 psf.

About $2.2 billion of investment sales deals were struck in the first six months of this year, against $17.9 billion for the whole of last year and the record $53.7 billion in 2007.

However, activity is expected to pick up in the current half. For one, sites on the Government's reserve list have been triggered for launch, including residential sites at Dakota Crescent and Chestnut Avenue.

Recently, the 50-room Hotel Nostalgia in the Tiong Bahru area was sold for about $22 million. The Indonesian buyer was represented by Rodyk & Davidson. Hotel Nostalgia, a freehold property, is expected to receive Temporary Occupation Permit soon. The seller was Lion Properties Group.

Some big ticket items are also on the market. One is a portfolio of four malls and an office tower owned by Asian Retail Mall Ltd (ARML) 1 fund with a price tag said to be about $1.5 billion - which industry players described as 'bullish'. An expression of interest closed last week for the portfolio, which comprises White Sands in Pasir Ris, Century Square in Tampines, Hougang Mall, Tiong Bahru Plaza and the next door Central Plaza office block.

The fund's life actually ended late last year - around the time of the Lehman Brothers collapse - and the investors decided to continue the fund until they could find the right mode of disposal or seek a formal extension to the fund's lifespan.

ARML 1's investors include a few Dutch pension funds that are said to favour selling the fund's malls to realise their investment. However, market watchers say the other investors, which include entities linked to Pramerica Real Estate Investors Asia, Guthrie and NTUC FairPrice, want to wait for a better time to maximise their profit.

The fund bought the five assets for a total of about $943 million and may have invested a further sum of over $80 million enhancing the properties. 'This leaves less scope for further improvements,' a market watcher said.

Property consultants generally expect retail rents in suburban malls to dip slightly this year and if yields demanded by investors rise, this will create downward pressure on capital values of suburban malls.

However, on a more positive note, a property consultant said: 'Shopping centres as an asset class don't suffer the same weakness as the office market, where there's too much supply in the horizon and demand is still weak. Institutional investors have a fairly negative view on the Singapore office market.'

Signs Of Economic Uplift Abound

Source : The Sunday Times, Aug 2, 2009

But caution is needed as economic outlook in Europe and the US remains bleak

Just five months ago, it would be difficult to envisage the air of prosperity now pervading Singapore.

In February, the mood was grim as Singapore grappled with a severe global economic slowdown triggered by a series of high-profile bankruptcies such as the collapse of investment banking giant Lehman Brothers in the United States.

Since then, the pendulum has swung the other way as the mood seems to have turned wildly exuberant. The stock market is on a roll, having climbed over 15 per cent in the past three weeks.

Meanwhile, posh condos and HDB flats are again being snapped up by hungry home-buyers.

This was despite a brief scare late last year over a possible rise in the number of defaults, by investors who had deferred the bulk of their payments until the properties were completed, as the economy nose-dived.

One market watcher likens the current buying spree or even panic to the huge gold rush experienced in California in the 19th century when the precious metal was discovered there.

Yet, as the history books attest, few of those who made it to California struck it rich. Most gold-diggers went home empty-handed - poorer and wiser from the experience.

Still, it would be churlish to dismiss the powerful rally - now witnessed not just in Singapore but also all over Asia - as a mirage conjured up by savvy investment bankers and stockbrokers to lure investors back into the stock market.

The retail community, for instance, has greeted the return of consumers with great relief.

The boss of one Orchard Road shopping mall observed that in February, all her tenants were losing money as the aisles literally emptied of shoppers. Singaporeans were so fearful of losing their jobs that they had stopped spending altogether after the Chinese New Year, she recounted.

So she was grateful to get the shopping crowd back.

'I don't understand why the stock market is surging and everyone is crazy about properties. But people are taking out their accumulated wealth to spend and spend. It is good for business,' she said.

But her happy experience is not shared by everybody.

The manager of one electronics retailer noted that most HDB heartlanders remained tight-fisted, keeping purchases of new TV sets on hold as they agonised over job security and a drop in income after suffering a cut in their salaries.

Still, despite his dour experience, there is no denying that a powerful dose of confidence is coasting through the economy and this has perked up Singaporeans in a big way.

It has left plenty of market watchers scratching their heads in amazement, even though the sputtering economies of the United States and Europe - Singapore's biggest trading partners - show no signs of reviving just yet.

Some cynics claim that this is simply complacency setting in, after people got over the initial shock of job losses at big organisations such as DBS Bank and Citibank last year.

Despite the headline-grabbing retrenchments, most Singaporeans have stayed gainfully employed, and life goes on as usual. If they had taken a pay cut, they have obviously not been too hurt by it.

Then there is the reported argument put forward by French bank BNP Paribas chief economist Chan Kok Peng that unlike the average American or European struggling to pay off his credit card debt, Singaporeans are sitting on a fat cushion of savings piled up during the boom years. This has enabled them to weather the current recession far better than the rest of the world.

Still, it fails to explain the gung-ho buying binge which we are witnessing in the stock market and the residential property sector.

In early March, when sentiment was at its bleakest, I wrote a column arguing against a then mindless rush into gold as global financial markets went into free-fall.

Hoarding lumps of gold under our mattresses is not going to boost our living standards. In extreme circumstances, it can even cause the real economy to crash by starving it of much-needed cash that keeps it humming.

Since then, gold prices have hardly moved. Instead, badly battered stock markets around the world have staged a miraculous recovery after plunging to their lowest levels in years.

What we are experiencing may be a manifestation of the confidence which Singaporeans have in their future as they strive to get ahead in life. It is only when living standards go up that assets like houses appreciate in value.

For many market watchers, a country's stock market is perhaps the best indicator of how investors are viewing its future.

Against this backdrop, it is not surprising to find that Asian bourses are among the best-performing in the world, as people in this region are among the most confident of their future.

In Singapore, the benchmark Straits Times Index has risen 49 per cent so far this year, while Shanghai - the world's best-performing bourse - is up 88.8 per cent.

A word of caution is needed here though. Despite the beguiling calm now prevailing in financial markets, the skies may still be overcast as global lenders struggle to purge billions of dollars worth of toxic assets from their balance sheets.

Investors who are plunging headlong into the stock market, in the perhaps mistaken belief that clear blue skies lie ahead, must factor in the dangers.

No Need To Rush For Mass Market Homes

Source : The Sunday Times, Aug 2, 2009

Supply still ample, including units under or slightly above $1,000 psf, so first-time buyers need not panic

Property experts say there is no shortage of mass market homes for sale in Singapore, referring to properties under $1,000 per sq ft or slightly above it.

Apart from new launches coming up, there are also unsold units from existing launches.

These include the remaining phases of Far East Organization and Frasers Centrepoint's site in Bedok Reservoir, and smaller projects by other developers, said CBRE.

Also, Hong Leong Group's sites in Flora Road and Pasir Ris Drive 1 already comprise more than 3,000 new units.

There is also ample leasehold land available for redevelopment, though not all sites will be equally attractive.

Suburban plots purchased by developers include sites in Yishun, Khatib, Toa Payoh, West Coast and Optima in Tanah Merah, said CBRE executive director of residential Joseph Tan.

While the price outlook may be unclear, what is clear is that mass market prices are unlikely to go back to the previous lows, he said.

New suburban launches are unlikely to hit the market at levels of around $500 psf or slightly more, as land prices have gone up since then, he said. HDB prices have also risen.

'Broadly, initial launch prices of mass market developments are now in the range of $600 psf to $700 psf,' he said.

He added that those in a more attractive location will command a premium. For instance, he said the project he is marketing, Optima, started at $790 psf as it is right next to a Tanah Merah MRT station entrance and at the fringe of an HDB estate instead of inside one.

In general, the plentiful supply pipeline will keep suburban prices in check to a certain extent, experts said.

But first-time buyers must be aware that sentiment does at times get ahead of reality. The current market situation is a good example, said property veteran Nicholas Mak, formerly director of research and consultancy at Knight Frank.

The buying momentum is not sustainable past this year if foreign buyers continue to stay away, he said.

'Some people think that they are buying at a 'recession price'. They are wrong because developers always price at the level the market can bear,' said Mr Mak.

Some suburban and city-fringe projects are being priced at levels near the previous peak or even at record levels, he cautioned.

A developer who declined to be named conceded: 'Developers are businessmen. If I can sell at a higher price, why not?'

Said Mr Mak: 'When the new launches are completed and the expected demand does not come, some investors will sell their units and prices could come down. Then some investors may be caught.'

In any case, there is a big pool of potential supply out there that can absorb any surge in demand, he said.

'You can't just look at the new suburban launches from developers. You also have to look at the supply in the resale market and also the HDB resale market,' he said.

'Usually, resale units tend to be cheaper and bigger than newly launched units.'

Second-quarter data from the Urban Redevelopment Authority (URA) shows that there are 38,482 units of unsold uncompleted homes.

Of this number, some 14,000 units are in the suburban areas or what the URA terms as outside the central region.

Considering developers have on average over the past five years sold 3,200 units of private suburban homes a year, this number provides enough supply for nearly 41/2 years, said Mr Mak.

So first-time buyers should not panic and rush into the market. They should take their time in finding their dream home. Do the necessary research, as National Development Minister Mah Bow Tan urged buyers last Wednesday.

Should Balloting Replace Queueing?

Source : The Straits Times, Aug 1, 2009

It's fairer, says developer but mixed feelings from buyers, consultants

AN ALTERNATIVE to queues and the 'first come, first served' principle at property launches is emerging as developers turn to ballots to allocate flats in an increasingly active market.

A ballot was used amid tumultuous scenes at the Optima condo on Thursday night when buyers swamped the Tanah Merah showflat a day before it was due to open.

It was also employed when two-room flats were released at Somerset condo One Devonshire in June. And Boon Keng condo Airstream is set to launch on Wednesday with balloting.

The process - essentially buyers' names are drawn out of a box - is getting backing from developers and buyers and may become increasingly common as activity gathers pace.

Mr Gerry de Silva, the head of group corporate affairs at Hong Leong, a partner in the Optima project, said balloting is fairer and stops people from trying tactics like selling places in a queue.

'Balloting is more transparent and the crowd can be dissipated faster,' Mr de Silva said. 'We wanted to ensure that genuine buyers come in and that they are not held up for too long.'

In Optima's first balloting round on Thursday night, about 300 buyers vied for the 120 released units that were going for an average of $790 per square foot. All units were allocated.

Buyers in the ballot had to submit one cheque for an individual unit. The most popular unit attracted over 40 ballots.

Yesterday, a further 156 units were released in the second ballot round. Optima has 297 units.

Buyers also seem to prefer balloting to queueing, although the reactions were mixed.

'Balloting is quite fair, whereas queueing is not; whoever gets there first gets the flat,' said prospective buyer S.B. Chung, an engineering firm owner, who entered Optima's second ballot yesterday.

But some felt balloting was not completely fair. Ms Christina Lee, who managed to get a three-room Optima unit in the first round, said: 'If five people are balloting for one unit, then the other four who don't get it have to re-do everything. If they still cannot get a unit on their second try, they have to keep repeating the process.

'Nobody wants to queue. But if you want to do a ballot, you should say so from the start,' added the manager, who took time off work to line up for nearly four hours on Thursday.

'I was upset that they switched to a ballot at the last minute; I felt that they had no proper system.'

She added that 'developers should let those who did not get a unit have priority to choose a unit before the second ballot", because they would have wasted a lot of time queueing.

Mr de Silva said that those who miss out in the first ballot do not get preference if they enter the second round.

'Each round is a fresh chance for interested buyers,' he said.

Property consultants said that neither system was absolutely fairer or better than the other.

Ms Tay Huey Ying of Colliers International told The Straits Times: 'In queueing, time will be wasted, but there are ways to overcome the inefficiencies.

'For example, if developers know that there are 100 units, then they can give out 100 queue numbers. Whereas balloting very much depends on your chances so it can be deemed as unfair.'

Dr Chua Yang Liang of Jones Lang LaSalle noted that both systems were suited to different market conditions.

'Queueing is simpler to execute and is more manageable when the demand is within a certain threshold. But once it is too large, it becomes hard to manage - that's when ballots have to come in, or other alternatives,' he said.

Mr Eric Cheng, executive director of HSR Property Group, said that up to a quarter of properties were sold via balloting during the market boom of 2007.

But he noted that there had been 'a couple of complaints' in the past about agents and officials selecting friends and relatives.

'Developers can use balloting to beef up numbers for different segments because balloting goes by phases and the developer decides which units to release,' he added.

Caught Offguard By Property Rebound

Source : The Straits Times, August 03 2009

First-time buyers left in the lurch as boom spreads to China’s 2nd-tier cities

When China’s property market slumped late last year, Ms Zhao Jun, 33, rejoiced.

The department manager of a technology company in Beijing had long been searching in vain for an affordable apartment.

Property prices have surged not just in top-tier cities like Beijing, but also in up-and-coming ones where developers are venturing into for higher profit margins.

“We thought that the time had finally come to buy a home that met our budget of 5,000 yuan (S$1,000) per sq m,” said the mother of a one-year-old daughter.

She had been paying rent of 4,000 yuan a month – 40 per cent of her salary – and wanted a place to call her own.

But little did she expect that home prices in Beijing’s fourth ring, a location she favoured, would fall to 16,000 yuan per sq m and no further.

And then within a few months, prices abruptly shot up again – way beyond her reach – to well over 20,000 yuan per sq m.

This has forced Ms Zhao to settle for an apartment much further away in the eastern suburbs. “Im afraid that at the rate the market is rising, if I don’t buy now, property will be even more expensive in future,” she said late last month.

Indeed, a sudden revival of real estate fever across China would turn home prices from bust to boom, leaving thousands of first-time home-buyers in the lurch.

In Beijing, average house prices in the capital leapt 27 per cent from January to June, while Shanghai has seen a 78-per-cent spike in residential sales, and the climb has continued since.

But it is not just residents in top-tier cities who are hit. Those in up-and-coming ones such as Tianjin have also been hit as analysts predict these “second-tier cities” will grow even faster than first- tier ones – and prices will be swept along upwards. In Tianjin, property prices rose 2 per cent in May against the previous month on the back of a 19 per cent jump in daily transaction volumes.

Even so, 90 per cent of Tianjin home-seekers in a recent online poll by property portal House Focus are already complaining that prices are way beyond what they can afford.

To these people, it looks like the government’s measures to turn around the property sector – which had slumped a year ago after Beijing took steps to curb speculation and overheating – have worked all too well.

As China’s economy entered rougher waters late last year, Beijing moved to revive the property sector – a key engine of growth. It cut minimum deposits and banks’ mortgage rates for first-time home-buyers. And it also slashed the minimum proportion of capital funding that a developer is required to hold in order to build new projects.

This has sparked a rush among China’s developers back into the market, especially in second-tier cities.

They went on buying sprees for land at record prices, prompting Mr Pan Shiyi, chief of Chinese developer SOHO to declare to local media last month: “The bidders have gone irrational.”

Developers have poured 1.45 trillion yuan into property development in the first half of this year, up almost 10 per cent compared with the same period a year ago, according to the National Bureau of Statistics. This has pushed up demand and prices for existing units, as buyers rush in, expecting developers to raise prices soon in a fast-recovering market.

But another, perhaps even more potent, factor in what analysts warn may be a property market bubble is hot money flows. These oozed from the 7.4 trillion yuan of new bank loans released as part of Beijing’s stimulus package in the first half of the year.

Some 30 per cent of the loans meant for projects under the stimulus plan may have been channelled into real estate, Mr Wei Jianing, a senior researcher at the State Council Development and Research Centre, told state media recently.

The aggregate home prices across major Chinese cities had in fact, only reversed last month, correcting a five- month decline and rising 0.2 per cent in June, compared with a year ago, official statistics showed. But analysts say this momentum will only grow faster.

In particular, second-tier cities such as Tianjin, Chongqing, Shenyang and Chengdu are seeing a strong recovery in home prices as their economies pick up pace, spurred by their governments’ stimulus measures, noted Mr Carlby Xie of Colliers International in Beijing.

“These cities are experiencing a very exciting period of property development boom – not only in the residential but also the commercial sector,” he said.

Large-scale developers which had previously concentrated on top-tier cities are starting to venture into second-tier ones where profit margins may be higher.

Meanwhile, demand is growing among increasingly affluent urban residents for new, top-quality housing, added Mr Xie.

This trend is, however, bad news for Mr Zhou Jinhai, 27, a hotel manager in Tianjin who hopes to buy a small apartment before proposing to his girlfriend.

“Growth in second-tier cities and property markets is good – but not when genuine first-time buyers like me have to make sacrifices and bear the cost of it,” he lamented.


Source : 《联合早报》Aug 03, 2009











尽管部长提醒不要贸然进场 楼市依旧热火朝天

Source : 《联合早报》Aug 02, 2009


昨天,远东机构位于宏茂桥8道的中景峰(Centro Residences)私人公寓楼盘销售处,吸引了不少公众去看房。虽然该公寓地点靠近组屋区,但售价在每平方英尺千元以上,受访的公众大都表示不论投资或自住都得慎重考虑。尽管如此,现场的布告板上,许多单位都被贴上“已售”字眼,说明了虽然有人因价格“偏高”而踌躇不前,却也有人快速“抢购”。  



据了解,中景峰上月26日举行的预售活动中,除了受邀的潜在买家到场外,也有不少公众“不请自来”,并愿意等候半小时来看房,那时小型单位已售出60%。由于地点靠近AMK Hub,又位于宏茂桥地铁站附近,因此,虽然尺价在1200元起跳,愿意投资的买家仍然不少。据说,周末前推出的110个单位中,就售出了73%(80个)。这个公寓项目共有329个单位。



以目前的市场情况看来,平均尺价在千元以下的公寓,似乎是比较受欢迎。位于新樟宜路上段的Optima @ Tanah Merah,因平均尺价在790元而被买家抢购,在短短两三天内就狂卖到只剩下三个单位。据发展商丰隆机构发言人昨天告诉本报,共有297个单位的项目,昨天已卖到只剩三个,继大前晚和前天进行抽签后,昨天已停止抽签。

Optima @ Tanah Merah因有人漏夜排队,促使发展商于大前晚提前开放示范单位,也因为购房者过多而通过抽签方式寻找买家。

另一个原本昨天才推出市场的翠丰苑(Meadows @ Peirce),也因为平均尺价在千元以下而深受欢迎。这个位于贝雅士蓄水池对面的公寓,在上个星期的预售活动中,就已售出80%的单位。这个项目共有350个单位。








他不认为目前的房地产热是出于积压需求(pent-up demand),因为大部分的买家都是购买小单位。

新加坡楼市 “热卖季”在延烧

Source :《联合早报》AUg 02, 2009





人们赶着进场还有另外一个理由,他们的处境促使他们想在房地产赌一把。这样的一种行为可以利用展望理论(prospect theory,也作前景理论)来解释。这个理论是两名心理学家丹尼尔卡内曼(Daniel Kahneman)和特沃斯基(Amos Tversky)在1979年立定的。


















(本文作者是经济学者,现经营一家独立的咨询公司,欲阅读作者的其他文章,可浏览www.chenjuwei.com )


Source : 《联合早报》Aug 02, 2009




在英澳纽泰置产 投资本钱要多少?



高力国际(Colliers)国际项目副主管雷森(Edwin Layson)指出,伦敦及纽西兰的房地产市场因供应有限,而被视为目前良好的投资目的地。其中,英国政府正花大钱赶在2012年奥运之前加强交通和基础建设,预计对伦敦中央区的房地产起着拉动作用。



谈到投资伦敦房地产的地点,他建议投资者最好看看靠近第一区和第二环区(zone 1, zone 2),毕竟这些地区靠近市中央、也靠近知名学府。另一方面,投资者也可以看看所谓的“重新发展地带(regenration areas)”比如Clapham Road和Rosberry Place。他认为,这些地段离市中央和地铁及火车站仅步行距离,越来越受投资者和年轻家庭所接受。



吉隆坡向来是不少新加坡买家的热选,一般倾向在吉隆坡金三角地带,特别是双峰塔、吉隆坡城中城(KLCC)、Mont Kiara和安邦(Ampang)等地区购买私人或服务公寓。另外,一些比较小众、雅皮的高档地区如Damansara Heights和Bangsar也追捧者众。



肯纳格投资银行(Kenanga Investment Bank)一名房地产分析师认为,吉隆坡房产目前的资本价值仍然高于新项目价格,近一轮调整幅度也没有新、美、英和澳等市场来得大。KLCC城中城附近的高楼私宅的尺价平均掉了一成至1159令吉。



尽管如此,吉隆坡房市目前的情况仍以买家为大。这名分析师指出,在KLCC城中城和Mont Kiara地区的高楼私宅出现供过于求,一些投资者也可能急于脱售手中房地产套现,为这两个地区的转售市场制造了不少机会。  









其中一例为吉隆坡房产。尽管马来西亚政府已放宽外资条例,不再限制外国投资者在购买价值50万令吉以上的资产时须获得海外投资委员会(Foreign Investment Committee,简称FIC)批准,但是,投资者仍需取得州政府的批准。这是因为海外投资委员会隶属联邦政府,与州政府是分开的。

与此同时,当地的不动产所得税(Real Property Gains Tax)豁免制度也并非永久性的制度,值得注意。





房地产热继续延烧 一些项目提前开放

Source : 《联合早报》Aug 01, 2009



除了Optima @ Tanah Merah、提前开放给公众认购的项目还包括位于贝雅士蓄水池对面的翠丰苑(Meadows @ Peirce)。



位于新樟宜路上段的Optima @ Tanah Merah,前晚提早开放,发展商丰隆集团在晚上8时开放示范单位,让原本在外排队,打算漏夜等候的300人进入示范单位,并在9时半停止收集支票,开始抽签。








集团营运总裁粘为信因此相信,积压需求(pent-up demand)是促使买家购买翠丰苑的最主要因素。





另一个可能在这个或下个周末登场的,是位于圣迈克路的Air Stream,据了解,这个永久地契项目的尺价可能定在每平方英尺1150元以上。这个项目有70个单位,都属于面积较小的单位。