Source : The Business Times, January 15, 2009
(HONG KONG) Hong Kong's sales of new private homes fell to the lowest level since 1996 last year, as high prices and the slowing economy deterred potential buyers, according to Centaline Property Agency Ltd.
The number of new non-government- built residential units changing hands last year fell 47 per cent to 9,955, Wong Leung-Sing, an associate director at Centaline, one of the city's biggest real estate agencies, said yesterday. The average value was HK$7.73 million (S$1.48 million), the highest since 1996, he said.
'Sales started to slow in May, as the pace of price increases was too fast,' Mr Wong said in a phone interview. 'Buyers held back. This worsened in the third quarter, when the financial tsunami hit Hong Kong.' Average prices rose on sales of luxury units costing at least HK$10 million each, he said.
Hong Kong's economy contracted a seasonally adjusted 0.5 per cent in the third quarter from the three months through June. Gross domestic product shrank 1.4 per cent in the second quarter, as the global financial crisis cut exports and spending cooled.
City Chief Executive Donald Tsang said last month that a recession this year is 'inevitable'. The bad outlook may lead developers to hold back housing from sale this year, Cusson Leung, an analyst at Credit Suisse here, said yesterday.
'They will slow down sales because they won't be sure if the market can absorb all their units at one go,' Mr Leung said. He estimated that 11,000 new homes will be completed this year, compared with 9,000 in 2008. Developers may have already sold some of these units before completion, he said.
Cheung Kong (Holdings) Ltd, Hong Kong's second-biggest property developer by market value, sold the most new private homes last year, 2,838 units, Centaline said. Second was Sino Land Co, with 1,385 units.
Sales of all types of residential units fell for a sixth month in December, dropping 65 per cent from a year earlier to 4,706, the Land Registry said last week. -- Bloomberg
Saturday, January 17, 2009
去年全年倒数第二 新私宅上月仅售131个
Source : 《联合早报》January 16, 2009
经济不景气，裁员风险高，又碰上学校假期的传统私宅淡季，导致私人公寓买家进一步减少。
市区重建局昨天公布的数据显示，去年12月仅有131个新私宅单位找到买家，因此，去年第四季售出的单位只有442个，08年全年也只售出4287个新单位，还不到前年全年的30％。这也是90年代初以来，最低的新私宅出售纪录。
在07年的房市旺热时，全年总共有1万4811个新私宅单位售出。
若以去年全年的新私宅销售业绩来看，10月份的118个单位相信是自03年沙斯以来需求最凄凉的一个月份，而12月份的131个则排名倒数第二。11月份售出的单位还有192个。
高纬物业新加坡董事经理韩永利说：“这其实在预料之中，这就反映了目前经济不景气，买家因为担心饭碗不保变得谨慎。”
然而，较出乎意料的是，豪宅项目丽嘉登豪庭(Ritz Carlton Residences)就售出了8个单位，中位数售价是每平方英尺3086元。但这就比它在07年11月推出时的每平方英尺4515元低了32％，也比07年12月取得的5088元最高尺价低了将近40％。
高力国际研究部主管郑惠匀认为，这显示市场上依然有一批买家在猎取好的投资项目。韩永利也认为，这表示高档豪宅依旧有“生气”。然而，也有市场人士怀疑，有些单位其实是较早前售出，但在12月份才呈交房屋转让禁令(caveat)。
Newton Edge 占销售榜首
该月份的销售榜首是纽顿一带的Newton Edge，这个永久地契项目在12月份共卖出了43个单位，占了12月份131个单位总数的三分之一。其中位数价格是每平方英尺1200元，单位面积介于440至915平方英尺。
郑惠匀认为，在目前淡静的市场，这个项目之所以受欢迎，一个主要原因是多数的单位较小，因此，以每平方英尺1200元的中位数价格来计算，整个单位的售价可以少于100万元，符合目前买家所设的顶限。
世邦魏理仕执行董事李晓和也指出，12月份的数据显示，郊区外的房地产依旧有其抗跌的“韧性”。位于兀兰地铁站附近的Rosewood Suites以每平方英尺654元的中位数价格，卖出4个单位、万国地铁站隔邻的The Quartz也以795元的尺价，卖出4个单位。
莱坊研究部主管麦俊荣指出，在去年售出的所有单位中，代表大众化领域的中央区以外(OCR)公寓售出最多，占了43％、代表中档领域的其余中央地区(RCR)占34％，而代表高档领域的核心中央地区(CCR)公寓仅占23％。
仲量联行研究部主管蔡炎亮相信，从历史来看，销售量是价格的指标。随着去年第四季的销售量减少，估计在今年第一季，价格可能会进一步下滑5至7％。
买家观望 卖的人也迟疑
买家持观望态度，卖的人也比较迟疑。去年12月份推出的新单位只有157个，比10月份的174个单位还少，也是自07年6月市建局开始公布这类数据以来，最少的一次。去年全年推出的新单位也只有6114个（四年来的新低），比前年少了56％。
郑惠匀认为，原因有两个：（一）这正是年底学校假期和圣诞节期间，许多潜在买家都出国度假了。（二）发展商正在等今年的预算案，才决定下一步棋要怎么走。
蔡炎亮也认为，若预算案中有一些刺激房市的援助配套，或许会引发一些市场反射。
麦俊荣认为，当11月推出的单位从10月份高一倍时，曾一度让他萌生市场已从环球金融危机中稳定下来的希望，但12月新推出项目再度滑坡，显示11月份只是昙花一现，无法持续。
郑惠匀认为，随着银行缩紧银根，借贷变得更困难，买家在等待发展商进一步削价或推出一些优惠，本月份的销售数据或许会比去年10月还要低。
李晓和认为，由于市场情绪谨慎，加上经济陷入衰退，又碰上农历新年这另一传统私宅销售淡季，今年第一季很可能是缓慢的一季。但他相信，若公寓价格继续调整，将能启动一些市场机制，刺激买气。他因此认为，今年卖出的新公寓可能会有5000至6000单位，超越08年全年的4287单位。
韩永利也认为，去年上半年市场还相当活跃，下半年趋向淡静；今年的情况也将如此，但次序会颠倒，先淡静，后活跃。他相信在今年下半年，市场会明朗化，阴霾也将逐渐散去，能看到隧道尽头的曙光。一旦股市回弹，房市也将在约半年后跟着走高。一些风险承受能力较高的投资者或许会在今年下半年就开始进场。
经济不景气，裁员风险高，又碰上学校假期的传统私宅淡季，导致私人公寓买家进一步减少。
市区重建局昨天公布的数据显示，去年12月仅有131个新私宅单位找到买家，因此，去年第四季售出的单位只有442个，08年全年也只售出4287个新单位，还不到前年全年的30％。这也是90年代初以来，最低的新私宅出售纪录。
在07年的房市旺热时，全年总共有1万4811个新私宅单位售出。
若以去年全年的新私宅销售业绩来看，10月份的118个单位相信是自03年沙斯以来需求最凄凉的一个月份，而12月份的131个则排名倒数第二。11月份售出的单位还有192个。
高纬物业新加坡董事经理韩永利说：“这其实在预料之中，这就反映了目前经济不景气，买家因为担心饭碗不保变得谨慎。”
然而，较出乎意料的是，豪宅项目丽嘉登豪庭(Ritz Carlton Residences)就售出了8个单位，中位数售价是每平方英尺3086元。但这就比它在07年11月推出时的每平方英尺4515元低了32％，也比07年12月取得的5088元最高尺价低了将近40％。
高力国际研究部主管郑惠匀认为，这显示市场上依然有一批买家在猎取好的投资项目。韩永利也认为，这表示高档豪宅依旧有“生气”。然而，也有市场人士怀疑，有些单位其实是较早前售出，但在12月份才呈交房屋转让禁令(caveat)。
Newton Edge 占销售榜首
该月份的销售榜首是纽顿一带的Newton Edge，这个永久地契项目在12月份共卖出了43个单位，占了12月份131个单位总数的三分之一。其中位数价格是每平方英尺1200元，单位面积介于440至915平方英尺。
郑惠匀认为，在目前淡静的市场，这个项目之所以受欢迎，一个主要原因是多数的单位较小，因此，以每平方英尺1200元的中位数价格来计算，整个单位的售价可以少于100万元，符合目前买家所设的顶限。
世邦魏理仕执行董事李晓和也指出，12月份的数据显示，郊区外的房地产依旧有其抗跌的“韧性”。位于兀兰地铁站附近的Rosewood Suites以每平方英尺654元的中位数价格，卖出4个单位、万国地铁站隔邻的The Quartz也以795元的尺价，卖出4个单位。
莱坊研究部主管麦俊荣指出，在去年售出的所有单位中，代表大众化领域的中央区以外(OCR)公寓售出最多，占了43％、代表中档领域的其余中央地区(RCR)占34％，而代表高档领域的核心中央地区(CCR)公寓仅占23％。
仲量联行研究部主管蔡炎亮相信，从历史来看，销售量是价格的指标。随着去年第四季的销售量减少，估计在今年第一季，价格可能会进一步下滑5至7％。
买家观望 卖的人也迟疑
买家持观望态度，卖的人也比较迟疑。去年12月份推出的新单位只有157个，比10月份的174个单位还少，也是自07年6月市建局开始公布这类数据以来，最少的一次。去年全年推出的新单位也只有6114个（四年来的新低），比前年少了56％。
郑惠匀认为，原因有两个：（一）这正是年底学校假期和圣诞节期间，许多潜在买家都出国度假了。（二）发展商正在等今年的预算案，才决定下一步棋要怎么走。
蔡炎亮也认为，若预算案中有一些刺激房市的援助配套，或许会引发一些市场反射。
麦俊荣认为，当11月推出的单位从10月份高一倍时，曾一度让他萌生市场已从环球金融危机中稳定下来的希望，但12月新推出项目再度滑坡，显示11月份只是昙花一现，无法持续。
郑惠匀认为，随着银行缩紧银根，借贷变得更困难，买家在等待发展商进一步削价或推出一些优惠，本月份的销售数据或许会比去年10月还要低。
李晓和认为，由于市场情绪谨慎，加上经济陷入衰退，又碰上农历新年这另一传统私宅销售淡季，今年第一季很可能是缓慢的一季。但他相信，若公寓价格继续调整，将能启动一些市场机制，刺激买气。他因此认为，今年卖出的新公寓可能会有5000至6000单位，超越08年全年的4287单位。
韩永利也认为，去年上半年市场还相当活跃，下半年趋向淡静；今年的情况也将如此，但次序会颠倒，先淡静，后活跃。他相信在今年下半年，市场会明朗化，阴霾也将逐渐散去，能看到隧道尽头的曙光。一旦股市回弹，房市也将在约半年后跟着走高。一些风险承受能力较高的投资者或许会在今年下半年就开始进场。
合乐三座旧组屋供出租暂不拆除
Source : 《联合早报》January 16, 2009
合乐路的三座旧组屋原本要拆除，以便腾出地段充作其他发展用途；不过，建屋发展局在审时度势之后决定暂时不拆组屋，改把组屋单位出租出去。部分单位将在公开市场上出租给合格申请者，其余的则作为租赁组屋，以满足低收入者的需求。
受影响的是合乐路第29、31和33座组屋，建于1968年，屋龄41年。
建屋局是在2003年宣布这三座组屋获选进行选择性整体重建计划，共有931个单位住户受影响，其中399个是三房式，137个是二房式，其余395个是一房式。
三座组屋居民已在几年前搬走，部分居民搬到中峇鲁地铁站附近的惹兰孟比那替代组屋。
建屋局发言人在询及合乐路组屋发展计划时说，为满足租赁住宅的需求，这些组屋将由受委的管理代理（managing agent）负责，把单位出租出去。
“在地段还未进行新的发展计划前，这样的作法将让已空置的整体重建计划单位在过渡期间有更好用途。”
惹兰勿刹集选区议员梁莉莉医生受访时说，第29座组屋的单位以三房式居多，部分单位将在公开市场推出，供短期出租。其余两座组屋原本就是一房式和二房式租赁组屋，因此只是恢复之前所扮演的角色。
梁莉莉欢迎建屋局把空置的旧组屋改为租赁组屋，因为这将舒缓低收入者对租赁组屋的需求。她在接见选民时，已注意到更多居民要申请租赁组屋。有的居民是受经济不景影响，有的则是刚卖掉组屋，想申请租赁组屋作为栖身之所。
在租赁组屋越来越抢手的趋势下，建屋局将在未来五年内，增加约一万个租赁组屋单位。其中1900个将在今年落成，当中有约一半是改建自旧组屋。当局也正在检讨租赁组屋的申请条件，确保申请者有迫切的租屋需要。
这不是建屋局第一次把原本计划要拆除的旧组屋出租出去。联邦大道的9座组屋原本在2003年受整体重建计划影响，不过在去年8月间，组屋经重新装潢后出租出去。
据较早前的报道，一间三房式单位的月租大约是3000元。
根据建屋局规定，这9座组屋只能作“过渡性住宅用途”，租户必须是新加坡公民、永久居民、学生、或持有就业准或S准证的人。也就是说，工作准证持有者不得租用这些单位。
与合乐路组屋一样，联邦大道组屋的管理代理同样是怡安产业公司（EM Services）。
合乐路的三座旧组屋原本要拆除，以便腾出地段充作其他发展用途；不过，建屋发展局在审时度势之后决定暂时不拆组屋，改把组屋单位出租出去。部分单位将在公开市场上出租给合格申请者，其余的则作为租赁组屋，以满足低收入者的需求。
受影响的是合乐路第29、31和33座组屋，建于1968年，屋龄41年。
建屋局是在2003年宣布这三座组屋获选进行选择性整体重建计划，共有931个单位住户受影响，其中399个是三房式，137个是二房式，其余395个是一房式。
三座组屋居民已在几年前搬走，部分居民搬到中峇鲁地铁站附近的惹兰孟比那替代组屋。
建屋局发言人在询及合乐路组屋发展计划时说，为满足租赁住宅的需求，这些组屋将由受委的管理代理（managing agent）负责，把单位出租出去。
“在地段还未进行新的发展计划前，这样的作法将让已空置的整体重建计划单位在过渡期间有更好用途。”
惹兰勿刹集选区议员梁莉莉医生受访时说，第29座组屋的单位以三房式居多，部分单位将在公开市场推出，供短期出租。其余两座组屋原本就是一房式和二房式租赁组屋，因此只是恢复之前所扮演的角色。
梁莉莉欢迎建屋局把空置的旧组屋改为租赁组屋，因为这将舒缓低收入者对租赁组屋的需求。她在接见选民时，已注意到更多居民要申请租赁组屋。有的居民是受经济不景影响，有的则是刚卖掉组屋，想申请租赁组屋作为栖身之所。
在租赁组屋越来越抢手的趋势下，建屋局将在未来五年内，增加约一万个租赁组屋单位。其中1900个将在今年落成，当中有约一半是改建自旧组屋。当局也正在检讨租赁组屋的申请条件，确保申请者有迫切的租屋需要。
这不是建屋局第一次把原本计划要拆除的旧组屋出租出去。联邦大道的9座组屋原本在2003年受整体重建计划影响，不过在去年8月间，组屋经重新装潢后出租出去。
据较早前的报道，一间三房式单位的月租大约是3000元。
根据建屋局规定，这9座组屋只能作“过渡性住宅用途”，租户必须是新加坡公民、永久居民、学生、或持有就业准或S准证的人。也就是说，工作准证持有者不得租用这些单位。
与合乐路组屋一样，联邦大道组屋的管理代理同样是怡安产业公司（EM Services）。
Friday, January 16, 2009
2,000 Flats Being Readied
Source : The Straits Times, Jan 16, 2009
MORE than 2,000 rental flats will be added to the supply of public housing early next year to help the needy.
The move was announced in Parliament by National Development Minister Mah Bow Tan in November 2006.
The first batch of converted flats - comprising 180 one- and two-room units in Block 852, Woodlands Street 83 - were allocated in January last year. In March, Blocks 188 and 191 in Boon Lay Drive were done.
In addition, 290 converted units at Redhill will be added to the supply this year.
An HDB spokesman told The Straits Times that toilets and kitchens were added and improved to the Boon Lay flats.
Each flat has new windows, vents, entrance doors and gates, and internal doors. Floors were retiled and the flats rewired. Elder-friendly features such as grab bars and lever taps were also incorporated.
'Lifts and essential services in the common areas were upgraded to meet the needs of the increased number of residents,' the spokesman added.
Mr Mah had said then that such flats would help ease the burden of those who are really needy.
'This additional supply will help meet demand from lower-income Singaporeans who cannot afford or are not yet ready to buy their own flats,' he said.
Apart from converting the three-room flats, HDB is also building 976 new rental flats at Choa Chu Kang, Sembawang and Yishun. The final batch will be ready by early next year.
MORE than 2,000 rental flats will be added to the supply of public housing early next year to help the needy.
The move was announced in Parliament by National Development Minister Mah Bow Tan in November 2006.
The first batch of converted flats - comprising 180 one- and two-room units in Block 852, Woodlands Street 83 - were allocated in January last year. In March, Blocks 188 and 191 in Boon Lay Drive were done. In addition, 290 converted units at Redhill will be added to the supply this year.
An HDB spokesman told The Straits Times that toilets and kitchens were added and improved to the Boon Lay flats.
Each flat has new windows, vents, entrance doors and gates, and internal doors. Floors were retiled and the flats rewired. Elder-friendly features such as grab bars and lever taps were also incorporated.
'Lifts and essential services in the common areas were upgraded to meet the needs of the increased number of residents,' the spokesman added.
Mr Mah had said then that such flats would help ease the burden of those who are really needy.
'This additional supply will help meet demand from lower-income Singaporeans who cannot afford or are not yet ready to buy their own flats,' he said.
Apart from converting the three-room flats, HDB is also building 976 new rental flats at Choa Chu Kang, Sembawang and Yishun. The final batch will be ready by early next year.
Private Home Sales At New Low
Source : The Straits Times, Jan 16, 2009
December sales of 131 new units cap the worst year since 1990
JUST 131 new private homes were sold last month, down from 193 in November, capping the worst year for new sales in Singapore since 1990.
There were only 4,287 homes sold last year - a striking plunge from the boom year of 2007 when a record 14,811 private home units changed hands.
ST PHOTO: STEVEN LEE
At least it beat the low in 1990, when just 2,526 new private units were sold.
Developers have caught the miserable mood of the market and launched only 157 units of new private homes in December, according to Urban Redevelopment Authority (URA) data yesterday.
That was even lower than the 174 units in October, when buyers and sellers were in shock from the deepening global crisis.
Total launches last year were at a four-year low of 6,114 units, down 56 per cent from a record 14,016 in 2007, according to Colliers International.
Resale deals also fell, from 20,985 units in 2007 to between 7,400 and 7,600 homes. Sub-sale deals fell from 4,863 units in 2007 to between 1,600 and 1,650 units last year, according to CBRE Research estimates.
Yet despite the dreadful sales numbers, property prices held their own.
'Developers generally withhold project launches to monitor the market situation, instead of resorting to drastic measures to reduce prices,' said Knight Frank's director of research and consultancy, Mr Nicholas Mak.
But with economic conditions subdued, home-seekers are increasingly realistic, looking now at functionality before frills, he said.
The URA price index, on the rise since the second quarter of 2004, reversed direction only from the third quarter last year when it declined 2.4 per cent.
Jones Lang LaSalle's head of research for South-east Asia, Dr Chua Yang Liang, expects it to contract further by another 5 to 7 per cent this quarter on the back of weak take-up, after an estimated 5.7 per cent fall in the fourth quarter.
Buying interest should pick up when prices fall further, experts said.
'Should more projects be attractively re-priced in 2009, the number of units launched and take-up can expect to sustain or marginally improve, as there is some latent demand from bargain hunters,' said Mr Mak.
CBRE Research executive director Li Hiaw Ho added: 'The continued moderation of prices should kick-start some level of activity to the market.' Sales of new homes this year are likely to improve to around 5,000 to 6,000 units, he said.
But it will take some time to happen. There may be even fewer launches this month as developers are expected to continue to hold back in anticipation of goodies in next Thursday's Budget, said Colliers International's director for research and advisory, Ms Tay Huey Ying.
Many prospective buyers are preparing for Chinese New Year so sales this month may hit a new low, said Ms Tay.
Indeed, the entire first quarter or even the first half will likely witness slow sales due to the economy and banks tightening credit, property consultants said.
Last month's top-seller was the 104-unit Newton Edge in Makeway Avenue, which sold 43 units at a median price of $1,200 per square foot.
Mr Li attributed the favourable interest to the affordable range of $500,000 to $900,000 for a majority of the units, which are 440 sq ft to 915 sq ft in size.
'The units are a bit squeezy but you are paying less than a million for a property in Newton,' said an industry player.
December sales of 131 new units cap the worst year since 1990
JUST 131 new private homes were sold last month, down from 193 in November, capping the worst year for new sales in Singapore since 1990.
There were only 4,287 homes sold last year - a striking plunge from the boom year of 2007 when a record 14,811 private home units changed hands.
ST PHOTO: STEVEN LEEAt least it beat the low in 1990, when just 2,526 new private units were sold.
Developers have caught the miserable mood of the market and launched only 157 units of new private homes in December, according to Urban Redevelopment Authority (URA) data yesterday.
That was even lower than the 174 units in October, when buyers and sellers were in shock from the deepening global crisis.
Total launches last year were at a four-year low of 6,114 units, down 56 per cent from a record 14,016 in 2007, according to Colliers International.
Resale deals also fell, from 20,985 units in 2007 to between 7,400 and 7,600 homes. Sub-sale deals fell from 4,863 units in 2007 to between 1,600 and 1,650 units last year, according to CBRE Research estimates.
Yet despite the dreadful sales numbers, property prices held their own.
'Developers generally withhold project launches to monitor the market situation, instead of resorting to drastic measures to reduce prices,' said Knight Frank's director of research and consultancy, Mr Nicholas Mak.
But with economic conditions subdued, home-seekers are increasingly realistic, looking now at functionality before frills, he said.
The URA price index, on the rise since the second quarter of 2004, reversed direction only from the third quarter last year when it declined 2.4 per cent.
Jones Lang LaSalle's head of research for South-east Asia, Dr Chua Yang Liang, expects it to contract further by another 5 to 7 per cent this quarter on the back of weak take-up, after an estimated 5.7 per cent fall in the fourth quarter.
Buying interest should pick up when prices fall further, experts said.
'Should more projects be attractively re-priced in 2009, the number of units launched and take-up can expect to sustain or marginally improve, as there is some latent demand from bargain hunters,' said Mr Mak.
CBRE Research executive director Li Hiaw Ho added: 'The continued moderation of prices should kick-start some level of activity to the market.' Sales of new homes this year are likely to improve to around 5,000 to 6,000 units, he said.
But it will take some time to happen. There may be even fewer launches this month as developers are expected to continue to hold back in anticipation of goodies in next Thursday's Budget, said Colliers International's director for research and advisory, Ms Tay Huey Ying.
Many prospective buyers are preparing for Chinese New Year so sales this month may hit a new low, said Ms Tay.
Indeed, the entire first quarter or even the first half will likely witness slow sales due to the economy and banks tightening credit, property consultants said.
Last month's top-seller was the 104-unit Newton Edge in Makeway Avenue, which sold 43 units at a median price of $1,200 per square foot.
Mr Li attributed the favourable interest to the affordable range of $500,000 to $900,000 for a majority of the units, which are 440 sq ft to 915 sq ft in size.
'The units are a bit squeezy but you are paying less than a million for a property in Newton,' said an industry player.
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