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  • Source Yahoo Singapore Created
    Saturday, 20 June 2015

    S'pore interest rate hike unlikely before Sept

    Singapores financial market, including its mortgage sector, now has more time to prepare for the anticipated climb in benchmark rates after the US central bank signalled that the increase is not likely to happen until September at earliest.

    Although this will remove some of the uncertainty felt by Singapore exporters during the near term, experts believe that Singapores benchmark interest rates may experience some erratic movements before stabilising towards the end of the year.

    Following the US Federal Reserves announcement on Thursday (18 June), the three-month Singapore Interbank Offered Rate (SIBOR) remained unchanged at 0.82 percent, while the exchange rate of the local currency against the greenback slightly strengthened at S$1.33 per US dollar.

    Categories Latest | Economy
  • Source Channel Newsasia Created
    Friday, 19 June 2015

    Singapore interest rates may see volatility before stability: Analysts

    SINGAPORE: Financial markets now have more breathing space to prepare for a hike in interest rates, after the US Federal Reserve indicated overnight that any increase is not likely to happen until September at the earliest.

    SINGAPORE: Financial markets now have more breathing space to prepare for a hike in interest rates, after the US Federal Reserve indicated overnight that any increase is not likely to happen until September at the earliest.

    Categories Latest | Economy | Global Market
  • Source Yahoo Singapore Created
    Wednesday, 08 April 2015

    6 Changes in the URA Property Price Index and Why They Matter

     

    By Property Soul (Guest Contributor)

    If you have a good memory, you may recall that I have wrote to The Straits Times Forum in December last year with a letter titled “Public deserves reliable, consistent data”.In the URA’s reply, they mentioned they were working towards making improvements to the property market data and would release the net prices of individual units sold by developers on their website in the first half of 2015.

    Categories Latest | Economy
  • Source Channel Newsasia Created
    Saturday, 04 April 2015

    Singapore's manufacturing PMI contracts in March

    SINGAPORE: Singapore's manufacturing activity contracted for the fourth straight month in March. The Singapore Institute of Purchasing & Materials Management's Purchasing Managers' Index (PMI) fell to 49.6 in March, down 0.1 point from February's 49.7.

    SINGAPORE: Singapore's manufacturing activity contracted for the fourth straight month in March. The Singapore Institute of Purchasing & Materials Management's Purchasing Managers' Index (PMI) fell to 49.6 in March, down 0.1 point from February's 49.7.

    Categories Latest | Economy
  • Source Channel Newsasia Created
    Tuesday, 31 March 2015

    Mortgage rates expected to climb further due to rise in SIBOR

    SINGAPORE: Singapore mortgage rates have risen on average by at least a third within the past month, amid an increase in Singapore's benchmark interest rate.

    SINGAPORE: Singapore mortgage rates have risen on average by at least a third within the past month, amid an increase in Singapore's benchmark interest rate.

  • Source AsiaOne News Created
    Tuesday, 31 March 2015

    Property auction sales almost double in Q1 to $34.3m

    Ten properties have been sold year-to-date, for S$34.3 million, in Singapore's property auction market. This is double the S$13.7 million done in the fourth quarter of last year, and almost twice the S$17.9 million in Q1 2014.

    In an update to JLL's figures released earlier this month, Colliers said that of the 10 properties sold this quarter, only one was an owner sale: a row of five adjoining shophouses that sold for S$14.6 million.

    The remaining nine properties put up by mortgagees (or lenders) comprised one factory unit and eight residential homes.

    Categories Latest | Private Homes | Economy
  • Source Yahoo Singapore Created
    Tuesday, 31 March 2015

    How High Can Mortgage Rates Go?

    By Mr. Propwise

    Home buyers with loans pegged to the Singapore Interbank Offered Rate (SIBOR) have recently had some unpleasant experiences with their ballooning mortgage repayments.

    Categories Latest | Private Homes | Economy
  • Source Yahoo Singapore Created
    Tuesday, 31 March 2015

    Singapore residential market: correlation with crude oil prices?

    Recent headlines have been dominated by the volatility of global crude oil prices. In early February, oil prices hit a 52-week low at around USD 44 per barrel, more than 50 percent down from a 52-week high of around USD 100 per barrel in mid-2014. While prices have recovered slightly to USD 47 per barrel as at the time of publication, the huge decline in oil prices has varied effects for different firms and industries.

    Over the past 20 years, historical data has shown that the Singapore residential market appears to have some correlation with oil prices. With the recent decline in oil prices, could this lead to further decline in the housing market?

    During the Asian Financial Crisis (1997-1998), oil prices halved, from USD 23-25 per barrel to USD 10-12 per barrel while residential prices and rents in Singapore declined by 44 percent and 37 percent respectively. The financial crisis resulted in falling oil prices, caused by a huge decline in demand as consumption slumped, leading to a regional economic slowdown that adversely affected Singapore. Residential prices and rents fell as buyers confidence in employment prospects dwindled.

    Categories Latest | Private Homes | Economy
  • Source AsiaOne News Created
    Saturday, 21 March 2015

    $15 billion losses in private property market: SRX

    The private condo market has lost more than $15 billion in market value since its peak in prices in January 2014.

    SRX Property used X-Value, its valuation algorithm, to calculate the value of all transacted flats (recorded) at the market's peak and then compared it with the value at 31 December 2014.

     

    Categories Latest | Economy
  • Created
    Saturday, 03 May 2014

    Sharp drop in new home loan applications

    Banks report up to 45% fall, after lending curbs put in place last June

    HOME loan applications have dived sharply at DBS and OCBC in the wake of strict lending rules introduced last year and real estate agents are feeling the pinch too.

    The statements from bank chiefs yesterday only confirmed what property agents have been saying for months.

    Categories Latest | Private Homes | Economy
  • Created
    Saturday, 03 May 2014

    US$217b in UHNW real estate investment pumped into Singapore

    Singapore has been identified as one of the biggest recipients of global private real estate wealth, according to a new report published by Candy&Candy, Savills World Research and Deutsche Asset & Wealth Management.

    A total of five cities, namely Hong Kong, London, Moscow, Singapore and New York, account for 40 percent (US$2.2 trillion) of all global UHNWI real estate holdings. Hong Kong, with the weight of mainland Chinese investment pushing at its borders, receives the most (US$798 billion) followed by London, the city identified as having the broadest global reach (US$676 billion). As for Singapore, the city-state is in fourth place with US$217 billion.

    Categories Latest | Economy | Global Market
  • Created
    Thursday, 17 April 2014

    Singapore's property market in a standoff

    Singapore's property market has entered a standoff between bargain-seeking buyers and developers sticking to their pricing guns, with March's new home sales dropping 83 percent from a year earlier.

    "Buyers think they can have their cake and eat it," said Alan Cheong, senior director for Singapore at Savills Research. "They are expecting the other side to lose money on their behalf. That idea doesn't work if you have an economy that's fully functioning," he said, citing the city-state's unemployment rate of only 1.5 percent.

  • Created
    Thursday, 17 April 2014

    Singapore’s NODX falls 6.6% in March

    Decline due to contraction in electronic and non-electronic NODX, says International Enterprise Singapore.

    SINGAPORE — Non-oil domestic exports (NODX) in Singapore declined 6.6 per cent on-year last month.

    Categories Latest | Economy

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