Exclusive Living In Singapore
It isn’t very often that the property market is led by developments and trends in the car market but after the Monetary Authority of Singapore eased the curbs on car loans there has been heightened speculation that they may do the same for property in the near future. Is that likely, and if it does go ahead, what are the likely consequences?
Located on the site of the ill-fated Alexandra Precinct, Mapletree Business City, and the currently under construction MBC II is a very welcome addition to Singapore’s tech business space. It is an industry that is ever hungrier for good office space, and one that Singapore is keen to encourage.
Those thinking the property market in Singapore is going through tough times should take a look at what is happening in Hong Kong, where the situation has been described as being in free fall. In what appears to be a perfect storm for a property crash, the former British colony is facing the biggest crisis since 1997, with some experts predicting this will have even greater consequences. In the 1997 crash, property prices were slashed by almost half in just 12 months. So how bad is it in Hong Kong, what has caused it, and what are the hopes for the future?
The slow housing market, coupled with the looming spectre of the additional buyers stamp duty ABSD), has meant that many developers have been employing ever more creative methods to shift their empty units. Not all of these bend the rules, but some certainly do and occasionally go further and break them completely. The URA (Urban Redevelopment Authority) is very much aware of the situation, and is keeping a close eye on developments, stepping in to put a stop to those practices that have – in its opinion, gone too far to entice new buyers to part with their cash. Here we look at some of the successful – and unsuccessful methods developers have tried.
There is an ever increasing demand for condominiums in the west of the island – a demand that doesn’t just stem from the well-publicised developments in and around Jurong. There are several other initiatives and projects that have created, and are still creating an unprecedented and huge pool of high quality tenants and potential tenants.
