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Thread: Southbank (D7, Leasehold, UOL Group)

  1. #21
    G Ng Guest

    Default Banks' Exposure To Property Loans 'Still Below 35% Limit'

    Grace Ng
    Finance Reporter
    The Straits Times
    10 July 2007

    The overall exposure of Singapore banks to property-related loans taken out by investment buyers and financial institutions amid the property boom is rising. But experts are not worried. A new Citigroup report says the percentage is set to climb from 27% of total loans currently to 'closer to 30%' by year-end.

    But this is 'still comfortably below' a regulatory limit of 35%, it said. Foreign banks may be nearer to the limit than local ones, said Citigroup economist Chua Hak Bin yesterday.

    All these figures exclude property loans taken out by owner-occupiers - about 80% of all bank loans.

    If banks approach the limit, customers could be charged higher interest rates for investment- related mortgages compared to owner-occupied ones, suggested Dr Chua.

    Mr Paul Kwee, Citigroup Singapore's corporate bank director and head of real estate, noted: 'In view of the recent increase in lending activity, it may well be that certain banks have less appetite, and may become more selective in granting loans, as well as in reviewing the terms that go with the loans.'

    Dr Chua also pointed out that while speculative buying of property has risen and may climb further over the next few years, it is still well below the level seen in the property boom of the mid-1990s.

    So bank-loan exposure to the property sector 'is likely to remain within tolerable limits'.

    In May, about 25% of mortgages taken out by investment buyers and 33% of loans to financial institutions were property-related, estimated Citigroup. This works out to an overall property-related loan exposure for the banking sector of 28.7%, well below the 35% limit.

    The limit was introduced by the MAS in May 2001, as a safeguard to limit the risks of the banking system's exposure to property loans, especially speculative activity.

    But Dr Chua expects 'mortgage growth to accelerate' to near 30% in the next 6 months, as more new property projects are completed and some homebuyers on the deferred payment scheme apply for loans.

    A higher proportion of new mortgages are likely to be investment-related, given the 'already high home ownership in Singapore of about 93%'.

    OCBC Bank has seen the ratio of new applications for investment properties to owner-occupied ones rise, but the latter is still the 'key driver of overall sales', noted head of consumer secured lending Gregory Chan.

    DBS Bank and Maybank said about a fifth of their Singapore mortgages are for investment properties, while Standard Chartered Bank said the percentage is between 15 and 20%. The rest are owner-occupied ones.

    A Maybank spokesman argued that 'there is no direct relationship between loan rates and the 35% limit'. The pricing of mortgage rates and corporate loan rates depends on a combination of factors, such as the risk profile of the borrower, the purpose of the loan and the type of property mortgaged, she said.

    In his report, Dr Chua also noted that property speculation may have increased, as reflected in the rise in sub-sale deals to about 10.5% of total transactions for the April to May period, compared with about 3% 3 years ago. But this is still much lower than the 1990s peak.

  2. #22
    J Wong Guest

    Default More Expats Buying Homes As Rents Jump 35% In First Half: Analysts

    Jeana Wong
    Channel NewsAsia
    9 July 2007 2126 hrs

    Rising rentals in Singapore have led to more expatriates buying properties here.

    Property market watchers say a growing number of foreign executives are choosing to trade off living in upscale locations for bigger properties outside the city area and home ownership.

    According to some calculations, average rents in Singapore went up by 35% in the first 6 months of this year over the same period last year.

    This is causing expatriates to move to cheaper districts.

    And anecdotal evidence is suggesting that of late, more are thinking of buying their flats.

    Nicholas Mak, Consultancy and Research Director, Knight Frank, said: "Another group of expatriate tenants are actually considering buying properties - either buying the apartments they are renting, ... or considering asking for their rental package - their housing accommodation package - to be paid as a lump sum so that they can use that to purchase a home, maybe even a landed property."

    Flats in prime districts now rent for an average of S$3.26 per square foot a month, while those just outside of the central areas are letting for $2.30 per square foot a month.

    The districts of 9, 10 and 11 may be rental hotspots for most higher-end expats.

    But analysts say those seeking to buy tend to go for the upper-mid level properties between 15 to 20 years old in outlying areas like Clementi, Toh Tuck and even Loyang and Pasir Ris.

    Such expats, some of whom are permanent residents, typically have a budget of just over a million dollars.

    Donald Han, Managing Director, Cushman and Wakefield, said: "We've actually started to see out of 10 expatriates that we serve, at least one will be looking into either leasing or potentially even buying. And quite a fair bit of those will ultimately decide to purchase rather than lease. Typically they'll look into the fringe of Districts 9, 10, and 11.

    "They will look into properties which are not the top end, more into the upper-mid level, potentially within the S$800 to as much as S$1,200 psf. And the units could be of the size of one- to two-bedroom kind of apartments. For landed property, typically perhaps a District 21, landed terrace houses which might go in the region of a million to S$1.2 million."

    Property market watchers say the upward pressure on rental prices is unlikely to let up over the next 12 months.

    Mr Mak said: "Private home rentals are still going to face a lot of upward pressure for the rest of this year and probably for the first half of next year. This year alone, we could easily see average rentals go up by anywhere from 15% to even as much as 25%."

    Mr Han said: "Rental will continue to rise by virtue that it's really a landlord's market. I suspect rental in the next 12 months will probably continue to rise between the range of about 20% to 25% from current levels."

    This comes as demand continues to grow and collective sales aggravate the already limited supply available.

  3. #23
    Unregistered Guest

    Default Re: Southbank (D7, Leasehold, UOL Group)

    No wonder people keep telling me the expats and foreigners are here cos they can't make it in their own countries. So stupid to jump into a hot pool now. Pay so high. Locals, stay back. Let the show begins. It's a comedy. It's a tragedy. On the foreigners.

  4. #24
    Registered Guest

    Default Re: Southbank (D7, Leasehold, UOL Group)

    Quote Originally Posted by Unregistered
    No wonder people keep telling me the expats and foreigners are here cos they can't make it in their own countries. So stupid to jump into a hot pool now. Pay so high. Locals, stay back. Let the show begins. It's a comedy. It's a tragedy. On the foreigners.

    Let the show begins? What show?
    See your stupid clown acts?
    Talking rubbish!

    We need these FTs.
    We don't need you idiot!

  5. #25
    Puzzled! Guest

    Thumbs up SOUTHBANK @ LAVENDER VS DAKOTA RESIDENCES

    southbank does not much publicity. Why? Isn't Southbank @ Lavender a better buy compared to Dakota Residences in terms of view, proximity to MRT station, proximity to Kallang Bay Area & CBD, height of the development (Max 40 storeys), design of development (like Canary Wharf in London), address, etc. Price is comparable if not more value for $? The last $psf in June caveat sale was just over $1000.

  6. #26
    family-oriented Guest

    Default

    Quote Originally Posted by Puzzled!
    southbank does not much publicity. Why? Isn't Southbank @ Lavender a better buy compared to Dakota Residences in terms of view, proximity to MRT station, proximity to Kallang Bay Area & CBD, height of the development (Max 40 storeys), design of development (like Canary Wharf in London), address, etc. Price is comparable if not more value for $? The last $psf in June caveat sale was just over $1000.

    Man, I am so in agreement with you!

    Southbank is one of the more exciting projects to come our way here in Singapore.

    But you see, people who buy mass market condos in Singapore are also the family-family type, the type who drive practical Corollas and Camrys (not saying that those are their only cars). So Dakota Residences fits the bill perfectly as the family-oriented condo to buy and stay in.

  7. #27
    Join the crowd Guest

    Default

    Singaporeans are weird. They like to join the crowd and chiong and snatch the new showflats. Within a few mths, the novelty will die. Then Dakota showflat will be empty and the newer showflats will be full of people.

    Quote Originally Posted by family-oriented
    Man, I am so in agreement with you!

    Southbank is one of the more exciting projects to come our way here in Singapore.

    But you see, people who buy mass market condos in Singapore are also the family-family type, the type who drive practical Corollas and Camrys (not saying that those are their only cars). So Dakota Residences fits the bill perfectly as the family-oriented condo to buy and stay in.

  8. #28
    Happening Area!!! Guest

    Thumbs up MORE GOOD NEWS NEAR SOUTHBANK @ LAVENDER AREA

    More good news in this area

    Home > Latest News > Singapore
    June 30, 2008
    URA puts up prime site at Ophir-Rochor Road for sale

    A 2.7 ha prime site in the heart of the city centre along the Beach Road, Ophir and Rochor Road corridor was put up for sale by the Urban Redevelopment Authority on Monday.
    The site is in the confirmed list of the Government Land Sales Programme in the first half of this year.

    The strategic site is a natural extension from the established convention, office, hotel hub at Marina Centre.

    This new growth area is envisioned to become an exciting 24/7 mixed-use cluster, said the URA on Monday. It will comprise integrated developments with office, hotel, retail, entertainment and residential uses, all set within an attractive garden-like environment.

    'New developments in the Beach Road/Ophir-Rochor Corridor will inject vibrancy and activities into this part of the city and form a new office cluster for financial and business institutions that will complement the existing financial district at Raffles Place and Marina Bay,' said URA.

    Flanked by the historical districts of Kampong Glam and Beach Road and in close proximity to the bustling, arts, cultural, entertainment and educational hub at Bras Basah. Bugis, this new growth area has the potential to be an exciting commercial hub offering a diverse range of entertainment, cultural and lifestyle attractions.

    With a maximum gross floor area (GFA) of about 160,000 sqm, it is slated for a mixed-use development.

    In line with the planning visions for the Ophir-Rochor Corridor, the proposed development will have at least 40 per cent of the total GFA for office use, and at least 15 per cent of the total GFA for hotel and hotel-related uses. The remaining GFA can be for office, hotel or other complementary commercial and residential uses.

    Future development will have direct basement level connections to the new Bugis Interchange MRT station, with immediate access to the existing East-West RTS line and the Downtown RTS line that is expected to be ready in 2013.

    This will provide the future development with convenient rail connection to the financial and business hub at Raffles Place and Marina Bay as well as the shopping, dining and entertainment destinations at Orchard Road and Singapore River. It will also have a direct access to Singapore Changi Airport via the East Coast Parkway.

    'Given its strategic location, the site is envisioned to be developed with high-quality buildings with contemporary architecture and innovative urban design that respond positively to the surrounding fine-grain, street-based conservation areas and the lush, mature greenery to create a high-density, sustainable development, incorporating environmentally-friendly design and technologies,' said URA.

    The land parcel, which has the potential for a high-rise 40-storey development, will also enjoy unobstructed panoramic views across the city to Marina Bay and the new Sports Hub at Kallang.

  9. #29
    WEE Guest

    Default NEW THINGS NEAR BUGIS! NOT FAR FROM SOUTHBANK!

    http://www.straitstimes.com/Singapor...ry_256608.html

    July 11, 2008

    Bugis makeover wins global award

    Past winners include Tokyo's Roppongi Hills and Shanghai's Xintiandi

    By Hong Xinyi


    RICH HISTORY: The area is home to many well-preserved old buildings. -- PHOTO: URA

    BOASTING a mix of lovingly preserved old buildings and swanky new developments, the Bras Basah-Bugis area is home to funky arts schools, museums and theatres.

    The transformation of the neighbourhood, once infamous for its population of transvestites, has been more than 20 years in the making.

    Now, the makeover has won the Urban Redevelopment Authority (URA) plaudits from an international non-profit institute that specialises in land use and urban development.

    The Urban Land Institute (ULI) handed the URA an excellence award for its work in the Bras Basah-Bugis area yesterday in Tokyo.

    The annual honours are regarded by those in the land-planning industry as the most prestigious in the world.

    As one of five award recipients this year, Bras Basah-Bugis joins past winners like Tokyo's Roppongi Hills and Shanghai's Xintiandi - both hip hot spots famous for their shopping and nightlife - in the winners' circle.

    Calling the award a 'great honour', URA chief executive Cheong Koon Hean said: ' I'm very glad that our hard work over the past two decades has paid off and our planning efforts have been recognised at an international platform.'

    This is the second time that the URA has won an ULI award. It was also recognised in 2006 for its conservation efforts.

    Minister for National Development Mah Bow Tan credits the Bras Basah-Bugis success to a programme of development that built on the area's rich history and architectural heritage.

    The 95ha area, the equivalent to about 190 football fields, includes 12 places of worship.

    'What the URA did was to identify those features of the district that many Singaporeans hold dear, preserve its authenticity, enhance the distinctive character and introduce new uses that are complementary to existing ones,' Mr Mah told The Straits Times in an e-mail.

    Once known for its rambunctious night bazaars, the area's modern-day rejuvenation began in 1989 with sale of a site for shopping mall Bugis Junction.

    The URA also wooed schools like Singapore Management University and Lasalle College of the Arts to set up campuses here. Today, the 12,000 students from these institutions are a key part of the area's buzz.

    Later this year, arts centre The Arts House will launch a school offering performing arts courses for children at Paradiz Centre.

    Said Ms Adelina Ong, the centre's assistant manager of artistic development: 'It is an ideal location because it allows us to connect with these institutions and independent collectives, creating opportunities for our students to pursue further development in the arts through them.'

    The arty vibe has been good for business as well. There has been an increase of over 30 per cent in median rent for the area's office space from 2000 to last year.

    hxinyi@sph.com.sg


    Springing up soon in Bugis and Bras Basah

    # South Beach

    Scheduled for completion in 2012, this 3.5ha site in Beach Road includes three blocks in the former Beach Road Camp and non-commissioned officers' club building, as well as new offices, luxury hotels, apartments and shops.

    # Bras Basah MRT station

    Designed by local architecture firm Woha, this station will feature a reflecting pool that stretches between the National Museum and the Singapore Art Museum. It is part of the Circle Line, which is scheduled to be operational in 2010.

    # Stamford Green

    Expected to be ready later this year, this landscaped path will connect the Singapore Management University to Fort Canning Park.

    # Iluma

    This mall, located on a 8,921 sq m site opposite Bugis Junction, is expected to be ready by the end of this year. Sixty per cent of its space will be devoted to arts and entertainment outlets such as cineplexes and theatres.

    # Former Nanyang Academy of Fine Arts campus in Middle Road

    The National Arts Council has expressed an interest in turning the building into a centre for artists. Mr Andrew Fassam, the Urban Redevelopment Authority's deputy director of urban planning and design, said details had not been finalised.

  10. #30
    buy value Guest

    Default

    if dakota and clover and the rest can be priced at that kind of price, then this southbank is severely undervalued!

  11. #31
    Doom Doom Guest

    Default

    Fannie and Freddie: How the Fallout Could Affect You

    By Ron Lieber The New York Times | 12 Jul 2008 | 04:37 PM ET

    The stock market swoon over Fannie Mae and Freddie Mac this week has left many consumers scratching their heads, wondering if buying a home is a worse idea than it was seven days ago or whether to take down the “for sale” sign in the yard.

    So now is a good time to step back and assess the landscape.

    Thus far, the biggest damage has been mostly to Fannie’s and Freddie’s investors, though the overall stock market has recoiled as the companies stumbled. In the housing market, consumers are still moving into new homes, and people continued to close on new loans Friday.

    But if you are shopping for a home or a mortgage or considering selling a home, you may wonder what will happen next if things get worse for Fannie and Freddie. Will mortgage rates rise, and home prices fall further? Could the troubles affect the rates you are charged for other loans? Answering these questions starts with a brief (I promise) primer on what the two entities do and why they’re important.

    In the beginning, there’s a mortgage lender. It can lend you money it has taken in from deposits on checking accounts and certificates of deposit if it wants. But many lenders choose to sell most or all of their home loans once they make them, and then use the proceeds of the sale to make even more loans.

    Fannie Mae and Freddie Mac are the buyers for many of these loans, which makes them crucial to the continued ability of companies to lend money to you and me for a house. Freddie likens itself to a wholesaler supplying a retail store: the retail store is a bank selling money.

    Once Fannie and Freddie have bought enough loans, they turn many of them into bonds and sell those bonds to investors. Your mutual funds may hold many of them, something many consumers may just be noticing, after letting out a sigh of relief because they were not planning to buy or sell a home anytime soon.

    The mortgage financing system hums along until Fannie and Freddie have trouble raising money to buy loans, or it costs them more to raise the money. And that’s what is happening now. “That increased cost must be passed along; it’s the nature of the beast,” says Keith T. Gumbinger, vice president of the financial publisher HSH Associates, where he has tracked mortgage rates for more than two decades.

    The question then is how, if at all, any of these higher costs will be passed along through the mortgage lenders to consumers.

    As of Friday, not much had changed, and mortgage bankers were putting on a brave face. “It is business as usual, and rates have held steady for the past two days,” said David G. Kittle, chairman elect of the Mortgage Bankers Association and chief executive of Principle Wholesale Lending in Louisville, Ky. He said the company locked in rates for one buyer and two people who were refinancing on Friday morning, as the stocks plummeted, and that the hand-wringing over Fannie and Freddie amounts to a “media feeding frenzy.”

    Karen Shaw Petrou, managing partner of policy consultant Federal Financial Analytics, sees a remote possibility that mortgage rates could in fact fall. If the federal government took control of Fannie and Freddie, a possibility that the Treasury secretary, Henry M. Paulson Jr., seemed to discount in a statement Friday, the companies’ financing costs would probably drop some because government control suggests a government guarantee. Until now, the government has provided credit lines to the companies but stopped short of such a promise.

    Many mortgage experts, however, expect rates to rise a quarter percentage point to half a point in the coming weeks. The average rate on Thursday for a prime 30-year fixed-rate nonjumbo mortgage was about 6.45 percent for someone not paying special fees known as points to lower the rate, according to HSH Associates data. That kind of spike wouldn’t be too unusual at a time when rates often rise and fall by at least that much over a period of weeks, for any number of reasons.

    Over the longer term, a dysfunctional Freddie and Fannie could send mortgage rates higher than they would have been otherwise, relative to key market rates like Treasury securities.

    For now, if you’re considering buying a house or refinancing a mortgage, and that rate rise is enough to make a difference, then maybe the deal is not affordable. “If someone is so tight that a quarter point kills a deal, they probably ought to be rethinking what they’re doing,” says Bert Ely, a banking consultant in Alexandria, Va.


    For mortgage shoppers comfortable with loans at today’s prices, now is the time to lock in, or guarantee, an interest rate with the lender, which can effectively set the rate over the life of a fixed-rate loan. Given the current uncertainty, there’s always the possibility that lenders will be less willing to offer rate locks in the coming weeks.

    Outside the mortgage industry, there is some concern that a further crippled Fannie and Freddie could make it harder for consumers to borrow in all forms. “There is a contagion effect. If investors in various kinds of loans get concerned about one kind of capital market, it can spread to other markets,” said Mark Kantrowitz, who runs the college financing site FinAid.org and saw this firsthand in student loans over the past year or so. “They tend to pull back from everything, not just their initial area of concern.”

    All the consternation this week only highlights how much rests on the value of our homes and shows that loan pricing and availability can keep the value from falling further. “The implications run everywhere, through to consumer spending and state and local governments,” said Mark Zandi, chief economist of Moody’s Economy.com. “Anything that exacerbates the problem is very bad news. It’s just sticking a finger into an already deep and festering wound.”

    Mr. Zandi said he thought the federal government would step in to stabilize the situation if mortgage rates rose much more than that quarter or half point.

    The government might take any number of steps to buck up the two ailing entities. The bonds that Fannie and Freddie sell are held all over the world, by mutual funds and foreign governments. Any hint that those securities are in peril could further undermine faith in the United States economy, given that Fannie and Freddie were created and chartered by the American government.

    In an election year, meanwhile, with the housing market already lousy in most places, the federal government will almost certainly do everything in its power to make sure that banks have continued access to Fannie and Freddie funds for loans to creditworthy home buyers.

  12. #32
    Interested Buyer Guest

    Default

    Quote Originally Posted by buy value
    if dakota and clover and the rest can be priced at that kind of price, then this southbank is severely undervalued!
    SouthBank... how much asking? Lavender is "infamous" for the casket houses... may be that's why... less interest.

    But location good. MRT nearby.

  13. #33
    Fúck You Redneck Guest

    Default

    Quote Originally Posted by Doom Doom
    Fannie and Freddie: How the Fallout Could Affect You

    By Ron Lieber The New York Times | 12 Jul 2008 | 04:37 PM ET

    The stock market swoon over Fannie Mae and Freddie Mac this week has left many consumers scratching their heads, wondering if buying a home is a worse idea than it was seven days ago or whether to take down the “for sale” sign in the yard.

    ....................

    In an election year, meanwhile, with the housing market already lousy in most places, the federal government will almost certainly do everything in its power to make sure that banks have continued access to Fannie and Freddie funds for loans to creditworthy home buyers.
    Fúck you redneck. Fúck off to your land of bush.
    Shemale from the US like you is not welcomed here.
    This is CONDOsingapore.com - not a place for your bullshit.

  14. #34
    DC33 Guest

    Default

    SOUTHBANK VALUATION PRICE FOR HIGH FLOOR IS ABOUT $1150 PSF NOW. IT SHOULD HAVE GOOD POTENTIAL AS IT IS NEARER TO CITY, NEXT TO MRT AND HAS GOOD VIEW.

  15. #35
    Interested Buyer Guest

    Default

    Quote Originally Posted by DC33
    SOUTHBANK VALUATION PRICE FOR HIGH FLOOR IS ABOUT $1150 PSF NOW. IT SHOULD HAVE GOOD POTENTIAL AS IT IS NEARER TO CITY, NEXT TO MRT AND HAS GOOD VIEW.
    99 LH? any info I can find on website.

  16. #36
    Smarian. Guest

    Default

    Latest listing on Southbank is around 950 to 980 psf.
    Price is going south.

  17. #37
    Interested Buyer Guest

    Default

    Quote Originally Posted by Smarian.
    Latest listing on Southbank is around 950 to 980 psf.
    Price is going south.
    About same price as Dakota. which is better? Any views?

  18. #38
    Unregistered999 Guest

    Default

    it's located very near to thai community and many blocks of one room flat for old folks...

  19. #39
    Interested Buyer Guest

    Default

    Quote Originally Posted by Unregistered999
    it's located very near to thai community and many blocks of one room flat for old folks...
    So means? Good?

  20. #40
    Down Down Guest

    Default

    Singapore c.bank sees more downside risks to markets
    Mon Jul 14, 2008 6:37am EDT

    SINGAPORE, July 14 (Reuters) - Singapore's central bank said it is closely monitoring financial markets in the wake of the crisis surrounding U.S. mortgage giants Fannie Mae and Freddie Mac, and warned of big downside risks in global markets.

    "Significant challenges and downside risks in the international financial markets remain and financial institutions and investors should stay vigilant," the Monetary Authority of Singapore (MAS) said on Monday.

    "The direct impact of the credit crisis on financial markets and financial institutions in Singapore has been relatively modest so far," the central bank said.

    Singapore's Straits Times stock market index .FTSTI has fallen 16 percent this year. The country's three banks have suffered relatively modest writedowns on their debt investments as a result of the credit crunch.

    The U.S. Treasury and Federal Reserve called on Sunday for sweeping measures to lend money and buy equity, if necessary, in Fannie Mae and Freddie Mac, which own or guarantee $5 trillion in debt -- close to half the value of all U.S. mortgages.

    The U.S. government plan to bolster the government-sponsored mortgage financiers helped calm markets on Monday, but did little to allay fears about the health of the U.S. financial system.

    The MAS declined to comment on whether any of Singapore's foreign reserves are invested in debt from Fannie and Freddie.

    Singapore had about $177 billion in its foreign reserves as of the end of June.

    Foreign central banks, mostly in Asia, hold $979 billion of the $5 trillion bonds and mortgage-backed bonds sold by Freddie and Fannie.

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