17 May

Hillvista wins International Award

Singapore once again made it to the top in the global property industry, this time the Prix D’Excellence Award from FIABCI (International Real Estate Federation),  for the residential project, Hillvista. By Far East Organization.

The International Real Estate Federation (FIABCI)

Singapore developer Far East Organization (FEO) has clinched a prestigious international award for its property project Hillvista. It’s the seventh time Far East has won the FIABCI (International Real Estate Federation) Prix D’Excellence award, and the only developer in the world to hold seven such awards under its belt. The award recognises real estate projects that exude distinction in the various aspects of a development. These aspects include, concept; architecture and design; development and construction; community benefit and environmental impact; and financial and marketing.

Hillvista Condominium in the Hillview area.

Out of 216 awards given out over the past 20 years, 39 went to Singapore. FEO received its award in the residential category at the 63rd FIABCI World Congress in St Petersburg, Russia, yesterday. The award-winning Hillvista is a 127-unit freehold residential development in the Hillview area. It was designed to recreate a contemporary and tropical Balinese living environment. Meticulous planning and innovative design strategies helped the developer overcome the challenges posed as a result of the small site. Commenting on the award, FEO’s executive director, development and planning, Mr Chng Kiong Huat, said: “We believe that developers of the future should continue to raise the bar in creating even better live-work-play spaces through innovation, customer focus and commitment.”

The Straits Times © Singapore Press Holdings Ltd. Reprinted with permission.

Editor’s Commentary:
As a home buyer, will the fact that your property is an award-winning one, or designed by award-winning architects, play any part in your decision to seal the deal? Will the value of your property increase?

16 May

New Average for private homes sales

Any fear from industry players and home sellers about a possible lull in home sales due to the flooding of the market by new private residential projects can be put to rest. For now. 2,200 homes were sold per month in Q1 of this year, as compared to the 1,300 homes per month from 2008 – 2011. What could the factors causing this renewed energy in the market be?

New private home sales in April were the strongest in nearly three years, with 2,487 units sold. This was due partly to the ongoing popularity of smaller, more affordable so-called shoebox apartments. April’s home sales were up 4 per cent from March, and were the highest monthly level since 2,772 units were sold in July 2009. The figures do not include executive condominiums (ECs), a public-private housing hybrid. Including ECs, buyers snapped up 2,660 homes last month. Experts called it ‘another exceptional month’ after the first three months of the year recorded a robust average of more than 2,200 homes sold each month. Average monthly new home sales from 2008 to 2011 were about 1,300 units.

The Sorrento condominium

Another factor driving sales is rock-bottom mortgage rates, the experts said. They say tiny shoebox units of under 50 sq m – about 540 sq ft - typically costing under $1 million have propped up the market. Another round of cooling measures is now more likely, they added. Units smaller than 50 sq m formed about 20 per cent of the 2,487 non-EC units sold last month, a spokesman for the Urban Redevelopment Authority said. National Development Minister Khaw Boon Wan has twice sounded warnings on the segment as an untested market. In Parliament earlier this week, he again cautioned that the Government is monitoring the trend of shoebox units and will consider more regulations if necessary. ERA Realty key executive officer Eugene Lim noted that sales were concentrated in the $650,000 to $850,000 range, with Housing Board (HDB) buyers making up half of these purchasers. PropNex chief executive Mohamed Ismail said HDB upgraders were sustaining the private market. ‘This trend of buying has not been dampened by the latest (Dec 8) round of cooling measures, which effectively stamped out short-term speculation in the private property resale market.’ May could well be another bumper month, Savills Singapore research head Alan Cheong said. But whether new home sales, excluding ECs, can exceed April’s numbers will depend largely on whether bigger projects like the 920-unit Riversails and 131-unit The Sorrento make it to the launch pad by the end of the month.

8 Bassein.

More than 60 per cent – 1,514 homes – of the total sold were in suburban areas, but the city centre and city fringe regions also received a boost in sales as the price gap between mass-market and prime projects narrowed, experts noted. Last month, buyers picked up 106 city centre homes in projects like TwentyOne Anguilla Park and 8 Bassein – almost double the 57 sold in March. City fringe sales at projects like Katong Regency and Sky Habitat surged 70 per cent to 867 units. Jones Lang LaSalle’s South-east Asia research head, Dr Chua Yang Liang, expects this trend of ‘bottom-up support’ of the higher-end segment to continue.

The risk of further policy intervention to maintain more stable market demand, however, cannot be ruled out, he added. Developers of mass-market projects are likely to keep pushing out launches, given rising competition and heightened policy risks, possibly involving regulation of shoebox apartments, said Colliers International research and advisory director Chia Siew Chuin. Top-selling projects last month included Katong Regency, which sold 244 units at a median price of $1,709 per sq ft (psf), Ripple Bay with 174 units changing hands at $876 psf, and The Hillsta with 154 units sold at $1,054 psf.

The Straits Times © Singapore Press Holdings Ltd. Reprinted with permission.

Editor’s Commentary:
Although no one knows when the market may reach the brim and bust at the seams, it’s a happy situation now for property developers, agents and home sellers. Should you be buying property for investment purposes,  what is a reasonable price to pay?

15 May

New price ceiling for landed property?

At $108 million for a bungalow, is this asking price a new high for this property type? How have prices for both landed and non-landed homes in Singapore fared this year? How high can the ceiling go?

Bungalows at Sentosa Cove are open for sale to foreign property buyers.

A luxury bungalow in Sentosa Cove with a staggering $108 million price tag. A huge, swanky condo unit in Cuscaden Walk on sale for a cool $68 million. Homes are being tagged with a level of prices never seen before here. Online asking prices of $50 million or more are now not uncommon. For instance, there are more than a dozen listings of good-class bungalows, mainly in the traditional upscale areas of Leedon Road and Victoria Park Road, with price tags at this level. But with asking prices significantly higher than market prices, some experts say these could be more of a marketing tactic to generate publicity for the particular home. So far, there have been only a handful of homes sold that have managed to cross the $50 million mark, and none has exceeded the $100 million threshold. But it is also important to look not just at overall prices but also at the unit per sq ft (psf) price when comparing these homes, experts add. For instance, the most expensive landed home sold here was a 41,850 sq ft good-class bungalow in Leedon Park that changed hands for $61.4 million, or $1,467 psf, in December 2010. The record psf price is held by a bungalow in Chatsworth Road that went for $2,081 psf, or $22 million, in July last year.

Good Class Bungalow on Swettenham Road.

In the non-landed homes market, it was a 8,050 sq ft Boulevard Vue unit that smashed records with a transaction of $33.4 million in November 2009. But it was The Marq on Paterson Hill that caused jaws to drop with a 3,003 sq ft unit snapped up at about $6,850 psf – or $20.5 million. International Property Advisor chief executive Ku Swee Yong said that when a home is sold at 50 per cent above the price of a similar home in the vicinity, alarm bells should ring and buyers should look closely at the specific attributes of the property to see if it is worth the premium. ‘It must have good attributes to justify why its price is so much higher than its neighbours’… But if it is truly a good quality property, then buyers might still pay,’ he added. Credo Real Estate executive director Ong Teck Hui said that in a rising market, a valuer may be able to support a valuation above the prices of past sales, taking into account how much the market has risen. But the valuer will not be able to justify a value beyond that, he added.

However, there could still be demand for homes with high quantums as long as their values are at market rates. This is because the supply of some of these posh homes is limited, experts add. For instance, there are only about 2,400 good-class bungalows in 39 gazetted areas islandwide. They typically occupy at least 15,000 sq ft of land. Good-class bungalow developer George Lim said he typically markets his high-end homes discreetly through word of mouth, friends’ recommendations or through a specialised agent. ‘When you reach that kind of price category, there are few people who can afford (such homes) and they are usually discerning and discreet. ‘They don’t go online to look for homes as that is more for the mass market… So you need to find a reputable agent who is known in the market and has the right connections,’ he added.

Boulevard Vue luxury condominium on Cuscaden Walk.

Among the online listings, the 99-year leasehold Sentosa Cove bungalow in Ocean Drive is the one with the highest asking price of $108 million. At a whopping $5,436 psf of land area, the bungalow comes with six en-suite bedrooms and sits on a double plot with a sea view. Its price is almost three times the overall price record of $39 million for a bungalow sold in the exclusive estate in March, and more than 80 per cent higher than the record unit price of $2,989 psf achieved in October 2010. Other expensive homes listed include a 40,500 sq ft good-class bungalow in Queen Astrid Park with a price of $64 million, while another 26,500 sq ft bungalow in Belmont Road would require a buyer to fork out about $50 million. Even condos are nudging well above $50 million asking prices. A six-bedroom 11,200 sq ft unit at Boulevard Vue in Cuscaden Walk is listed with a guide price of $68 million. Another 9,000 sq ft five-bedder unit at Skyline@Orchard Boulevard is asking for $55 million.

The Straits Times © Singapore Press Holdings Ltd. Reprinted with permission.

Editor’s Commentary:
Property investors are still willing to pay for prime locations and good quality homes. Is this the way developers and sellers are attracting buyers? How would you go about selecting a good property agent to broker the sales for you?

15 May

Property hot spots amidst cooling measures

2012 seems to be a year of change. With adjustments of industry rules and regulations, HDB’s numerous launches of new BTO flats and new private residential property launches, is this a watershed year for Singapore’s real estate? 

What are the hotspots this year for Singapore's real estate market? Photo by ThinkStock.

The various measures to cool the property market have borne encouraging signs, but trouble spots in the form of shoe-box units and rising mass market prices remain, said National Development Minister Khaw Boon Wan in Parliament yesterday. As of the end of the first quarter of this year, there are about 2,500 completed shoe-box apartments (defined as units of less than 700 sq ft), which make up 1.2 per cent of the 210,000 non-landed units in the private housing stock. Looking ahead, this stock is expected to increase to about 9,700 by 2015. While about 80 per cent of the completed units are located in the Central Region, many of the new units will be located in the heartlands, where their appeal to tenants remains untested, said Mr Khaw. Separately, mass market property prices outside the Central Region have continued to rise, even as private housing prices have started to stabilise in the central region, noted Mr Khaw. “We will continue to monitor these developments closely and will not hesitate to take action, if necessary, to ensure that the housing market remains stable and sustainable,” he added.

Small studio apartments available at Cityscape at Farrer Park condominium.

A combination of the measures rolled out thus far – including five rounds of cooling measures aimed at eliminating speculative demand and the ramping up of supply of both public and private housing units – have produced some results, noted Mr Khaw. Private home prices registered a marginal decline in Q1 this year for the first time, following nine consecutive quarters of moderating price increases. In addition, the proportion of sub-sales in the market, a proxy for the level of property speculation, has fallen sharply to about 4 per cent. The additional buyer’s stamp duty (ABSD) has also helped reduce the proportion of private residential property bought by foreigners and companies to 7 per cent.

“In the public housing market, most first-timers now have a chance to select a BTO flat if they apply for one. HDB resale prices have also moderated, increasing by 0.6 per cent in Q1 2012. This is the smallest price growth in recent years,” added Mr Khaw. From May 18, all developers will be required to provide more information such as scaled unit floor plans and a breakdown of the unit floor area. In addition, amendments will be made to the Housing Developers (Control and Licensing) Act to require developers who set up show-flats to depict the actual units accurately. The proposed changes will be implemented in the second half of this year if the Act is passed in Parliament.

The Straits Times © Singapore Press Holdings Ltd. Reprinted with permission.

Editor’s Commentary:
Moving away from prime districts, suburban properties are getting a big boost in terms of home prices and sales volume. Which areas have been attracting the most attention and which properties are receiving the most number of eyeballs?

14 May

CEA enforcing stricter Property advertising rules

Too many properties, too little time. What some property agents are doing to attract property investors’ attention may be too much. And the authorities are coming down hard on the indsutry. What exactly are the rules and guidelines and is it clear enough?

Clearer and stricter guidelines have been put in place by the Council for Estate Agencies (CEA) in June this year.

The property industry watchdog is clamping down on aggressive marketing tactics by some property agencies. After a string of complaints, practices in the firing line include erecting tents by the roadside, and over-zealous agents flagging down cars to pass out fliers. Both are considered dangerous. The Council for Estate Agencies’ (CEA) Code of Ethics and Professional Client Care requires agents to comply with the law when conducting their work. The Straits Times understands the CEA met some agency bosses last month, warning that existing laws must not be infringed in the marketing of projects. Some examples were flagged. For instance, agencies were reminded they may not pitch tents or other structures along the roadside without approval. This is a common way to drum up interest in a new project, especially if the showflat is not ready.

From now on, property agents may have to follow stricter rules and guidelines when planning their marketing efforts.

Agents are also prohibited from distributing fliers along the roadside, while the placement of advertisement banners on public properties such as lamp posts, railings and trees is not allowed. They can do so only if prior approval has been obtained from the relevant authorities. But permits for tents, for example, are unlikely to be easily obtained now, agency bosses say. Under Building and Construction Authority (BCA) rules, for example, all forms of outdoor advertisements must have a licence. Agency bosses say the CEA has previously verbally set out concerns on aggressive marketing. They add that the council seems to be clamping down more sharply on agents flouting laws, but emphasised the difficulty of juggling the expectations of developers and the rules which will clip their marketing options.

Before going ahead with advertising efforts, it would be wise to check if you have fluanted any rules. Image by the Council of Estate Agencies.

Mr Steven Tan, OrangeTee‘s managing director, added that his agency has taken steps to work within the existing framework. In its recent marketing of Ripple Bay in Pasir Ris, it advised the developers to erect a tent within the site compound. It allowed marketing and sales to be more organised and was less of a nuisance to those living nearby, he said. ‘It’s a good step for the industry. There will be some adjustments but agents can now work within clearer guidelines to come up with marketing campaigns that are more professional.’

Global Property Strategic Alliance chief executive Jeffrey Hong said agents would have to be more creative in marketing, but this might allow them to practise in a more professional manner and improve their image. Mr Eric Cheng, chief executive of ECG Property, said it was unclear in some instances what can and cannot be done, such as whether fliers can be distributed in public places. He said agents are confused and that it would help if clear and specific guidelines were issued.

But property investor Samuel Heng, 42, cheered the move: ‘We are already bombarded by fliers, text messages and e-mails. There’s no need for pushy marketing tactics.’ Flouting the code could result in fines, suspension, or revocation of licence. Action could also be taken by the BCA or Land Transport Authority (LTA) in certain cases. ERA Realty, for example, was asked by the LTA to remove banners and a tent they were using as a working area to distribute pamphlets to motorists when they were marketing Sky Habitat in Bishan last month

Source: The Straits Times © Singapore Press Holdings Ltd. Reprinted with permission.

Editor’s Commentary:
The line to toe is a fine one and property agencies and agents may do well to familiarise themselves with the revised rules and regulations by the Council for Estate Agencies rather than landing themselves in unnecessary trouble. As the home buyer, do you know what your rights are and what to take note of before engaging a property agent?

14 May

Overseas property popular with Asian investors

Properties outside of our borders have been increasingly popular with local and regional investors. Is it worth looking across our shores to invest in foreign properties? Which are the most popular cities and what do you have to watch for?

Overseas property developers are increasingly setting their sights on Asia – including Singapore – to drive their sales to make up for weak demand back home. They hope that deep-pocketed investors in the region who are frustrated with low bank interest rates will choose to invest in other corners of the globe. While economies in Europe and the United States are stagnant at best, the Asian growth engine is chugging along steadily, flush with funds drawn from across the world seeking better returns. That has meant that investors abroad have looked to Asia to diversify their investments, driven away from Europe, for instance, by the euro zone debt crisis.

Overseas property developers are looking increasingly towards Asia for property investors. (Image courtesy of ThinkStock.)

Overseas property developers are looking increasingly towards Asia for property investors. (Image courtesy of ThinkStock.)

But a growing number of overseas developers are looking to pull some funds in the other direction, by eyeing buyers in this region when marketing projects. They have taken their roadshows to economies including Hong Kong, Malaysia and Singapore. In fact, some roadshows for property in London are launched in Asia first, said Mr Darien Bradshaw, the executive director of consultancy CBRE’s international property marketing arm for Asia. He said this reflects the perception that Asian buyers have cash to spend. CBRE is currently marketing Fitzroy Place in London’s West End. Mr Bradshaw said that the roadshow here had received a ‘good response’ with about 40 per cent of the project’s investment demand from here. About 30 per cent is from Hong Kong while the remainder is from London itself.

Property on Fulton Lane CBD area in Melbourne.

While traditional areas like London, Melbourne and Kuala Lumpur have always been offered as investment alternatives, investors are also being enticed to plonk their savings into less familiar cities such as Chengdu and Houston. For instance, marketing agent Roof Real Estate Group is holding a property exhibition this weekend seeking investors for homes in Houston. Hong Kong-based Centaline Property Agency is having a similar exhibition on investing in Chengdu. The firm emphasised the growth potential of the yuan over the next few years and the strength of the Chinese economy compared with the stagnant or slowing growth in European countries. Experts say that low interest rates and tighter credit conditions in the real estate sector of some Asian markets have prompted investors to look to investments further afield. But they are also keen to partake in the growth story right in their backyard.

Residential projects in Thailand and Malaysia that have been marketed here, for example, have attracted interest from Singaporean investors. Centaline’s regional sales director Janice Low said the firm has received ‘strong interest’ for its Chengdu exhibition and expects about 50 potential investors to turn up. While this is the first time the firm is bringing in an overseas project, it hopes to eventually bring in about one project a month. The projects will be located in Asian markets – Hong Kong, mainland China and Taiwan – where it operates. On whether there is still upside for Asian home prices that are already high, Ms Low said: ‘The various governments are not going to depress the market… They are just doing what the Singapore Government is doing which is to create a sustainable property market.’

Fitzroy Place apartments in London's West End. Photo by fitzroyplace.com.

International Property Advisor chief executive Ku Swee Yong expects foreign developers to continue marketing their projects here as the strong Singdollar, high home prices and cooling measures have led to many locals considering overseas purchases. His top picks are well-located projects in London and Perth, but he emphasised that an investor should always select projects in good locations with an idea of what rental demand is like.

The Straits Times © Singapore Press Holdings Ltd. Reprinted with permission.

 Editor’s Commentary:
Is buying property in a foreign land a good way of diversifying your assets? How can you best let your money work for you? What upcoming property fairs and exhibitions should you attend?

11 May

New Executive Condominiums Oversubscribed

Watercolours in Pasir Ris and 1 Canberra in Yishun. Both these newly launched executive condominiums have been snapped up by eager buyers. The former is oversubscribed by two times and the latter has just received 600 applications for 655 units. What are the calling cards?

Watercolours Executive Condominium in Pasir Ris.

Watercolours, a new executive condominium (EC) to be built in Pasir Ris, is nearly two times oversubscribed. Huge Development – a consortium made up of Ho Lee Group, UE E&C, GPS Alliance Development and Investment, and Evia Real Estate – is behind the EC. Mr Jeffrey Hong, chief executive of GPS Alliance, reported that a total of 807 e-applications had been tallied by 10pm yesterday. But the 99-year leasehold project has only 416 units available, which can be booked from June 1. The EC was launched last Tuesday. With an e-application, a would-be home buyer is eligible to ballot for a unit. The condo will be at the intersection of Pasir Ris Drive 3 and Pasir Ris Link. Property consultants have said they expect the condo to do well, given that some of its prices seem to be comparable to those at a Design, Build and Sell Scheme (DBSS) project nearby. They said those eyeing the pricier Pasir Ris One DBSS units could do better to buy units at Watercolours, which also has facilities. Indicative prices released by Pasir Ris One’s developer, SingXpress KayLim, put a three-room, 700 sq ft unit there at between $390,000 and $490,000. A five-room, 1,130 sq ft unit there works out to about $650,000 to $770,000. E-applications for that project closed last week. It was also oversubscribed.

Pasir Ris One DBSS Flats in Pasir Ris. Photo by pasirris1.org.

By comparison, the average indicative prices for Watercolours are reportedly between $680 per sq ft (psf) and $720 psf. Two-bedroom EC units starting from 743 sq ft are $500,000 to $600,000, while three-bedroom units starting from 915 sq ft are $600,000 to $700,000. The EC will also have three-bedroom and four-bedroom dual-key units, for multi-generational living. PropNex chief executive Mohamed Ismail was not surprised to hear of the strong take-up rate. ‘Pasir Ris is an established estate, and there will be a pool of HDB upgraders who feel Watercolours could provide a lifestyle they desire.’ He also called the EC a ‘value proposition’, as ‘mass-market condos now go for about $900 psf to $1,000 psf’. However, Mr Ismail said this does not mean it will be 100 per cent sold. ‘People who did the e-application could all be targeting the same type of units,’ he said.

One Canberra Executive Condominium in Yishun.

Another executive condominium project in Yishun had received more than 600 e-applications for its 665 units by 6pm yesterday. The ballot for 1 Canberra in Yishun, which opened about two weeks ago, closed yesterday. A spokesman for developer MCC Land said last night that the firm expects the project to be oversubscribed when e-applications close, ‘once the last person leaves the showroom’. He estimated that e-applications would range from 670 to 680. Mr Colin Tan, research head at Chesterton Suntec International, said he had expected a better response. He said the tepid demand may be due to the intense competition among developers for first-time buyers, who he says are mainly responsible for oversubscription rates. ‘First-time applicants… have a lot more choices now. There have been a string of EC and DBSS (Design, Build and Sell Scheme) projects all coming out at the same time,’ he noted. ‘The advertisements have also come out quite strongly, which reflects a bit on the competition, because they’re all launching at the same time, they’re all in the far north-east, and they’re competing for the same segments of the market.’

However, Mr Tan thinks that interest for 1 Canberra will heat up when it is open to all, given its relatively competitive pricing. A standard three-bedroom unit will likely cost between $680,000 and $880,000 while four-bedders range from $860,000 to $970,000. ‘Because it’s an EC, pricing is affordable, so it doesn’t mean it won’t do well once it’s opened for all. It’s still more affordable, compared to private property,’ added Mr Tan. Interest for 1 Canberra seems to pale in comparison with Pasir Ris One, a 447-unit DBSS project which had a subscription rate of 1.94 times, but it did have an edge with its location, said Mr Tan. ‘Obviously, Pasir Ris is a more established area. The majority (of flats) are executive apartments, there are a lot more potential upgraders, so that’s one reason why Pasir Ris has done better.’

Source: The Straits Times © Singapore Press Holdings Ltd. Reprinted with permission.

Editor’s Commentary:
Location aside, are executive condominiums the rising property type? Now that DBSS flats may cease further development, how will prices of public housing compare to private non-landed property?

 

10 May

April’s residential property rental yields stay high

Rental yields for residential properties remain high last month. Is this a sign of good times ahead for property investors? What will affect rental prices henceforth?

Investors worried that the return on their residential investment properties might have taken a tumble can relax. Rental yields held their ground last month as falling prices in the city centre and city fringe region and sustained rental demand propped up these returns. Data from the Singapore Real Estate Exchange (SRX) found that overall yields for private non-landed homes was 4.06 per cent last month, easing slightly from the 4.23 per cent in the fourth quarter. SRX calculated the yield by dividing the average per square foot rent over 12 months by the average psf price of units sold last month. Suburban homes posted the best yields of 4.02 per cent, city fringe homes pulled in 4 per cent while city centre homes had the lowest yields of just 3.24 per cent.

19 Shelford Road condominium in District 11.

A total of 2,174 leases were inked in April by agencies under SRX, which collates and displays transactions by major property agencies, accounting for about 85 per cent of resale transactions in the market. Experts say yields are expected to hold at current levels in the short term. However, the sustained health of the rental market will depend on where the economy is headed, they add. C&H Properties key executive officer Albert Lu said that the slight dip in rental yields last month does not indicate any sustained downward trend. But if the global economy should take a sharp turn for the worse, leading to foreign workers leaving Singapore, then rental demand, and hence yields, could be aversely affected, he added.

The Lumiere apartments in Tanjong Pagar near Singapore's Central Business District.

Mr Lee Sze Teck, senior manager of research and consultancy at Dennis Wee Group, thinks that yields in suburban areas could be compressed due to the upcoming supply of completed homes, even as home prices hold steady. However, it is the opposite scenario in the city centre and city fringe areas where yields may have risen as prices fall. Data from the Urban Redevelopment Authority showed home prices falling 0.6 per cent for both the city centre and city fringe areas in the first three months of the year. Mr Tan Kok Keong, OrangeTee’s research and consultancy head, however, thinks that with the occupancy rate of suburban homes at more than 95 per cent, yields are likely to hold firm.

Rather, it is the yields of city centre homes that might be compressed as occupancy rates have been coming down in those areas, putting pressure on rents. This will, however, be a small drop since prices are also softening. ‘Rental yields will likely remain around this level. Until we see a larger scale expansion in the finance sector, it’s hard to see yields creeping up,’ he added. Mr Tan said the rental market might face a challenging period from the second half of 2013 onwards when a bumper supply of public and private homes starts flooding the market.

The Straits Times © Singapore Press Holdings Ltd. Reprinted with permission.

Editor’s Commentary:
It might be too early to tell if property invested on this year will continue to bring in profits five to ten years down the road. Since industry analysts are expecting the rental market to wobble a little in 2013, is this year the time to make the most of your invested property?

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