Knight Frank Singapore Property Auction – 22nd October 2009

Knight Frank Singapore Auctions

Knight Frank is having its property auction on the 22nd October 2009 (Thurs)

Date : 22 October 2009, Thursday
Venue : Amara Hotel, Connection Room 1, Level 3
Time : 11.00 am

Anything Interesting?

A piece of residential freehold land at Truro Road (off Cambridge Road). It yields 14,760sqft in size, 1.4 plot ratio (20,664sqft in GFA) and is available for sale by owner.

Most other listings are for sale by owners. One 3-bedroom apartment mortgagee sale at Fortune Park (109 Tampines Road).

You can download the full property list here.

DTZ Singapore Property Auction – 21st October 2009

DTZ is having their property auction tomorrow at the Amara Hotel, Room 1 Level 3 at 2.30pm.

DTZ Singapore Property Auction

Date:
21st October 2009 (Wednesday)

Venue:
The Amara Hotel Singapore, Connection Room 1, Level 3

Time:
02:30 PM

Anything Interesting?

It might be the first time I have seen a HDB apartment being sold in an Auction (for sale by owner). A number of shop houses and shops are for sale by owner too.

You can download the latest list here.

Laguna Park En Bloc Tender Unsuccessful

Laguna Park’s en bloc tender results are unsuccessful, according to Channel News Asia.

Laguna Park, East Coast
Laguna Park, East Coast

There were two interested party in the exercise bid, namely a local company which comprises of shareholders from Indonesia and a prominent local developer.

Credo, the appointed agency for Laguna’s en bloc project gave a brief breakdown of the two parties. The local company offering bid of 1.7 billion, far exceeding the reserved price of 1.2 billion, but pulled out its offer citing difficulties with the bankers to remit the funds to process in Singapore.

The second party, prominent local developer has expressed interest to settle on a bid price after negotiations with majority owners. The majority owners have about a month to enter into any private treaty deal before the collective sale agreement expires in December.

About Laguna Park

An ex-HUDC which was privatised in 2007, the 528-unit leasehold Laguna Park has a sprawling land size of about 677,493 sqft with a plot ratio of 2.8 (under the current Master Plan 2008) can build up to 36 storeys, subject to relevant approval from the URA.

Laguna Park Site Location

Singapore Property Agents to be Regulated

It’s confirmed. The Government will be stepping in to regulate the pool of real estate agents in Singapore.

The Straits Times announced and understands that an independent body will be formed and chaired by a neutral party appointed by the Government. It will also house a dispute resolution centre for agents and consumer mediation.

The intiative was hasten with the old ERA agent case of flipping an apartment in Riverside Piazza.

It’s about time as mentioned before that this would happen. Like Nicholas Mak mentioned, the only wish I had was that the independent body will not have any agency heads involve in the process as this will have conflicting of interest within the party.

Public consultation on the proposed reforms is due to begin this month with the findings due by December.

What Should Property Agents Do Now?

To fellow colleagues who’s rushing to take your CES or CEHA at this point, I don’t see the point of speeding up. It would be an added bonus to have the qualifications.

If you see these papers as added or refreshment to your real estate knowledge, the papers would be much easier to clear.

Smart Investment & International Property Expo 2009 on 10th – 11th October

Smart Investment & International Property Expo 2009

The Smart Investment and International Property Expo is here again in 2009. This year it will be held in Suntec City on the 10th and 11th of October 2009.

10 – 11 October 2009, 10am – 7pm • Hall 401, SUNTEC Singapore
International Exhibition & Convention Centre

Speakers of Smart Investment & International Property Expo

You’ll be expecting:-

  • Over 20 internationally acclaimed speakers, ranging from Book Authors, Spirit of Enterprise Award Winners, International Property Gurus, yada yada.
  • See Condos, Apartments, Luxury Villas from Malaysia, Thailand, Australia, and more
  • Find the next best investment. Compare Stocks, Funds, Overseas Properties and other investment vehicles
  • Full Singapore Property Market Analysis from Singapore’s leading agencies and CNBC’s Property Award Winners

The best things in life usually are free. So register for your free pass here to the exhibit today ;)

Government Takes Measure To Cool Property Market – IAS Abolished

With immediate effect, Minister for National Development (MND) Mr. Mah Bow Tan has announced 3 main measures to cool the current speculative property market:-

  1. Removal of the Interest Absorption Scheme (IAS) and Interest Only Housing Loans (IOL) with effect immediately (14th September 2009)
  2. Reinstatement of Confirmed List for 1st Half 2010 Government Land Sales (GLS) Programme
  3. Non-extension of the January 2009 Budget assistance measures when it expires.

What is IAS?

Interest Absorption Scheme. Details can be found here.

What it means for the property market?

Speculative property buyers will not be able to opt for IAS with immediate effect, bringing them to service their mortgage as soon as the construction of the new project begins according to the stage it is built (Normal Payment Scheme – NPS).

This will stop a huge number in terms of speculation; though it shouldn’t stop genuine buyers who is looking to buy a place of their own stay.

The reintroduction of GLS also means that the Government is preparing to insert fresh supply of land to curb the excessive speculation in this current market.

Simple equation – More supply, less demand.

What happens to new project launches after today?

Official quote:

The Monetary Authority of Singapore will disallow the IAS and IOL with immediate effect from today, i.e. 14 Sep 2009. This measure will apply to all private residential projects. The only exception will be uncompleted private residential projects where the units had already been offered for sale under the IAS before 14 Sep 2009. The IOL will be disallowed with immediate effect.

So projects that has offered IAS before 14th September is still eligible.

Where can I get the official source?

Download a copy of the official press release jointly from Ministry of National Development (MND), Ministry of Finance (MOF), Ministry of Law (MOL) and Monetary Authority of Singapore (MAS) and Question and Answer on how these changes will work in detail.

StreetSine is Upgraded

I was talking about how good StreetSine reports were with its mass information for Home Owners and Property Agents.

Now, StreetSine brings in more good news with more helpful data for home seekers and home owners.

Dear StreetSine.com User,

Since the initial launch of our private residential Home Report service a few months back, we’ve received numerous positive testimonials from our users. Home hunters, investors and agents have told us that they’ve found their ideal homes faster and smarter with the service.

Today, we are excited to announce a list of upgrades from our user feedback.

1. We now track Days on the Market (DOM)
2. We also track price adjustments to property listings
3. We have added district trends to our other trends
4. We have substituted the Median Asking PSF for the Index Price in the executive summary so that the user has more flexibility in how he uses the Index Price
5. In the drop down for landed property report generation, we have allowed for search by street. We have also included the landed square feet in the drop down. The latter will aid in the quicker selection of comparable properties.
6. Made the summary report more user friendly by making several changes, such as changing the figures to PSF.

For the Agent:

7. At the top of the Home Report, agents will soon have the option to enter their client name so that it reads “Prepared for (client)”
8. We have enlarged the “Prepared by (agent)” at the bottom of the page as well as added a disclaimer for the agent

You can already view these changes in the sample Home Report at http://www.streetsine.com and we hope you will take a look.

We are also in the final testing of our inter-active Home Report. Subscribers will soon be able to customize the report with a few simple clicks.

Thank you for your consideration. Stay tuned for more updates brought to you by StreetSine Analytics Team!

Have a good weekend,
StreetSine Analytics Team

So fellow Realtor, get your subscription with a $200 discount on a StreetSine unlimited report generation today. Don’t be left out ;)