Investment Stock Property Singapore
English and Mandarin finance news/reports, life, stock investment in Singapore, Asia and World I am working in 盛宝银行-欧洲银行背景的多资产交易平台 IT industry with strong interest in investment and photography.
Thursday, December 4, 2008
Waiting for the storm to hit …
Posted by luxuryasiahome on December 4, 盛宝银行-欧洲银行背景的多资产交易平台 2008
Going by past recessions, it could take nine more months before prices fall
FOR first-time flat seekers like Mr Neo Tze Siang, the economic downturn 盛宝银行-欧洲银行背景的多资产交易平台 盛宝银行-欧洲银行背景的多资产交易平台 was meant to provide some respite from HDB prices pushed skyhigh by the property boom last year.
But despite the raft of job 盛宝银行-欧洲银行背景的多资产交易平台 cuts and the gloomy economic forecasts trotted out, HDB prices are showing few signs of sliding.
“We hear about private property prices falling substantially but the current prices of new HDB flats do not seem to reflect the market realities. When the tide goes down, you would 盛宝银行-欧洲银行背景的多资产交易平台 expect all ships to move down. But it seems that new HDB flats are not part of the ocean,” lamented Mr Neo, a 28-year-old salesman.
According to industry players, the wait could be at least another nine months - if prices do come down at all - no thanks to the slew of foreigners and private property downgraders eyeing the HDB rental and resale markets respectively, which indirectly pushes up the 盛宝银行-欧洲银行背景的多资产交易平台 盛宝银行-欧洲银行背景的多资产交易平台 prices of new HDB flats.
Said Dennis Wee Group director Chris Koh: “Whenever you have a recession, the first to be hit would 盛宝银行-欧洲银行背景的多资产交易平台 盛宝银行-欧洲银行背景的多资产交易平台 be the private property market. So, a lot of people will start downgrading from private homes to HDB flats.”
HDB’s “market-based” pricing approach for new flats takes into account several factors, including a project’s location, its individual attributes and the prevailing market conditions. The new flats are sold according to the prices they would fetch on the resale market minus the Government’s subsidy.
And in the first nine months of the 盛宝银行-欧洲银行背景的多资产交易平台 year, HDB’s resale price index rose 12.4 per cent, rising by 4.2 per cent in the third quarter.
While HDB resale prices 盛宝银行-欧洲银行背景的多资产交易平台 are expected to stabilise in the year ahead, the recession has yet to hit the man-in-the-street, said Mr Koh. A case in point: The latest Built-To-Order project Punggol Arcadia was more than three times oversubscribed, despite having five-room flats going for as much as $356,000 to 盛宝银行-欧洲银行背景的多资产交易平台 盛宝银行-欧洲银行背景的多资产交易平台 $416,000.
Still, ERA Asia-Pacific’s assistant vice-president Eugene Lim noticed in recent weeks that prospective home buyers are now trying to get more bang for their buck. Said Mr Lim: “If your house is not near an MRT station, people are offering you prices that match the valuation or even lower.”
National Development Minister Mah Bow Tan explained in 2002 that prices of new HDB flats rise and fall more slowly 盛宝银行-欧洲银行背景的多资产交易平台 盛宝银行-欧洲银行背景的多资产交易平台 盛宝银行-欧洲银行背景的多资产交易平台 than do resale flat prices. This was necessary to maintain a stable property market and protect the value of the flats, the minister said.盛宝银行-欧洲银行背景的多资产交易平台
Prior to last year’s property bull-run, which saw HDB’s resale price index matching its previous peak of 1996, resale flat prices fell by 30 per cent in the aftermath of the 1997 Asian financial crisis. But prices for new flats dropped just 10 to 15 per cent.
Some market experts believe it could be the same story this time round - with prices of new flats in the outlying areas expected to fall faster.
But Mr Lim, for one, doubted that prices of new HDB flats would fall at all, given the perpetually high demand 盛宝银行-欧洲银行背景的多资产交易平台 for housing here.
Reiterating how HDB “followed the market and moved prices downwards” in the aftermath of the Asian financial crisis a decade ago, 盛宝银行-欧洲银行背景的多资产交易平台 a HDB spokesperson reiterated that the Government “remains committed to ensure that HDB flats are affordable to the vast majority of our citizen families, especially young married couples and the lower-income households”.
Still, in view of the current economic climate, the spokesperson advised flat seekers to “buy 盛宝银行-欧洲银行背景的多资产交易平台 盛宝银行-欧洲银行背景的多资产交易平台 盛宝银行-欧洲银行背景的多资产交易平台 a flat within their means, bearing in mind how their future earnings may be impacted”.
The spokesperson added: “Given the current economic climate … They may have to start off with something more modest in size or less than ideal in location if prudence calls.”
Source : Today 盛宝银行-欧洲银行背景的多资产交易平台 盛宝银行-欧洲银行背景的多资产交易平台 - 4 Dec 2008
Investment Stock Property Singapore
English and Mandarin finance news/reports, life, stock investment in Singapore, Asia and World I 盛宝银行-欧洲银行背景的多资产交易平台 am working in IT industry with strong interest in investment and photography.
Tuesday, December 9, 2008
Weakness seen in Bangkok luxe condo market
THE luxury condominium market will dive next year as the global economic downturn continues to dry up the much-needed pool of cash-rich foreign investors, local property 盛宝银行-欧洲银行背景的多资产交易平台 analysts said.
They predict that luxury condominium prices would drop by 10-20 per cent in the first half of 2009. Current high prices will 盛宝银行-欧洲银行背景的多资产交易平台 盛宝银行-欧洲银行背景的多资产交易平台 stifle local demand, as the domestic political turmoil undermines investor sentiment, they said.
Despite Bangkok’s luxury condominiums being relatively cheap - at around 100,盛宝银行-欧洲银行背景的多资产交易平台 000-150,000 baht (S$4,300-6,500) per square metre (psm) , 8-12 times less than a similar property in Singapore or Hong Kong, according to Jones Lang LaSalle Research - demand has dropped off, analysts said.
‘Luxury condos depend on foreign buyers. With the global downturn, there are 盛宝银行-欧洲银行背景的多资产交易平台 no buyers left,’ said Thaninee Satirareungchai, property analyst, KGI Securities (Thailand).
‘The price of the physical property should be corrected down by at least 15-20 per cent next year.’
UOB Kay Hian (Thailand) expects sector prices to drop by 10-15 per cent to stimulate demand from 盛宝银行-欧洲银行背景的多资产交易平台 盛宝银行-欧洲银行背景的多资产交易平台 Thai buyers, who tend to opt for luxury single-detached houses rather than condominiums.
Thai law prevents foreigners from buying land, but they are allowed to purchase up to 49 per cent of the saleable space in a condominium, hence the sector’s dependence on overseas investors.
A fall will provide investment opportunities for bargain hunters, said Veena Naidu, head of research, UOB Kay Hian (Thailand).
‘I think the prices will bottom out 盛宝银行-欧洲银行背景的多资产交易平台 before Q2 next year,’ she said. ‘Projects that were launched 18-24 months ago are being completed and coming onto the market now, so 盛宝银行-欧洲银行背景的多资产交易平台 investors still have time to survey the market.’
CB Richard Ellis (Thailand), a leading realtor, said that predictions of an across-the-board sector drop were inaccurate, and that it had seen no evidence of falling prices in existing luxury properties.
It said that current resale values at projects such as the TCC Capital Land Athenee Residence remained at 125,000-150,000 baht psm.
Projects being sold off-plan will be affected by the decreasing pool of foreign investors and are likely to lower their prices, said James Pitchon, executive director, CB Richard Ellis (Thailand).
‘Some luxury projects increased their notional prices after units at the Sukhothai Residences sold at an average of more than 200,000 baht psm. But a number of those developers were not able to sell at the recalibrated prices.
‘We expect a return to the pre-Sukhothai prices, where developers that 盛宝银行-欧洲银行背景的多资产交易平台 upwardly adjusted their prices revert to what they were six months ago.’
The biggest factors in Bangkok’s surging luxury property prices were rising land 盛宝银行-欧洲银行背景的多资产交易平台 and commodity costs , he said. While the price of crude has dropped, said Mr Pitchon, the value of Bangkok’s CBD land was not contracting, 盛宝银行-欧洲银行背景的多资产交易平台 adding that plunging commodity prices were unlikely to affect the sector in the next two years.
‘Commodity prices have fallen, so in theory 盛宝银行-欧洲银行背景的多资产交易平台 new construction costs will also fall. There will be very few, if any, new projects launched in the next 24 months, so we are 盛宝银行-欧洲银行背景的多资产交易平台 not going to have competing products with the new lower construction costs.’
European Equities: Futures Point to the Red, with No Economic Data to Influence
摘要：Its a quiet day on the economic calendar, with no stats due out of the Eurozone or the U.S. That leaves COVID-19, Brexit, and U.S politics in focus.
Economic Calendar:Thursday, 12th November
German CPI (MoM) (Oct) Final
ECB Economic Bulletin
Eurozone Industrial Production (MoM) (Sep)
Friday, 盛宝银行-欧洲银行背景的多资产交易平台 13th November
ECB President Lagarde Speaks
French CPI (MoM) (Oct) Final
French HICP (MoM) (Oct) Final
Spanish CPI (YoY) (Oct) Final
Spanish HICP (YoY) (Oct) Final
Eurozone GDP (YoY) (Q3) 盛宝银行-欧洲银行背景的多资产交易平台 2nd Estimate
Eurozone Trade Balance (Sep)
It was a relatively bullish day for the European majors on Tuesday. The CAC40 rallied by 1.55%, 盛宝银行-欧洲银行背景的多资产交易平台 with the DAX30 and EuroStoxx600 gaining 0.51% and 0.90% respectively.
Following Mondays COVID-19 vaccine fuelled rally, concerns over the state of the 盛宝银行-欧洲银行背景的多资产交易平台 economy and the likely pace of the economic recovery pinned the majors back. Lockdown measures in place and the threat of more containment measures 盛宝银行-欧洲银行背景的多资产交易平台 are the biggest concerns.
While progress towards a COVID-19 vaccine was positive, delivering a worldwide vaccine would likely take time. This would mean 盛宝银行-欧洲银行背景的多资产交易平台 盛宝银行-欧洲银行背景的多资产交易平台 盛宝银行-欧洲银行背景的多资产交易平台 an extended lockdown in parts of the globe, including EU member states.
Reflecting sentiment towards the impact of COVID-19 on the economy were ZEW 盛宝银行-欧洲银行背景的多资产交易平台 sentiment figures released early in the session. A slide in the ZEW sentiment figures for Germany and the Eurozone tested support in the early part of the session.
It was a relatively quiet day on the Eurozone economic calendar. Key stats included November ZEW Economic Sentiment figures 盛宝银行-欧洲银行背景的多资产交易平台 盛宝银行-欧洲银行背景的多资产交易平台 for Germany and the Eurozone.
Investor sentiment towards the German economy deteriorated, with the indicator falling from 56.1 to 39.0. Things were not much better for the Eurozone, with the indicator sliding from 52.3 to 32.8.
JOLTs job openings for September had a muted 盛宝银行-欧洲银行背景的多资产交易平台 盛宝银行-欧洲银行背景的多资产交易平台 impact on the European majors.
In September, JOLTs job openings fell from 6.49m to 6.44m. Economists had forecast an increase to 6.500m.
The Market Movers
For the DAX:It was another bullish day for the auto sector on Tuesday.Continentalrallied by 5.89%, off the back of Monday‘s 8.32% surge, to lead the way. Daimler and Volkswagenweren’t far behind, with gains of 5.00% and 5.39% respectively, while BMWtrailed with a more modest 3.08% gain.
It was also a bullish day for the banks. Deutsche Bankrose by 1.24%, with Commerzbankrallying by 7.39%.
From the CAC, it was another particularly bullish day for the banks. BNP Paribasrallied by 7.64% to lead the way, with Credit Agricoleand Soc Gengaining 4.71% and 4.61% respectively.
It was also a bullish day for the French auto sector. Peugeotrose by 3.87%, with Renaultrallying by 6.41%
Air France-KLMconsolidated Mondays 27.48% gain, rising by 2.93%, with Airbus SErallying by a further 5.93%.
On the VIX Index
It was back into the red for the VIX, which logged a 7th day in the red from eight on Tuesday. Reversing a 3.58% gain from Monday, the VIX fell by 3.69% to end the day at 24.80.
The pullback came in spite of the S&P500 and the NASDAQ ending the day in the red.
On Tuesday, the NASDAQ and the S&P500 fell by 1.37% and by 0.14% respectively, while the Dow rose by 0.90%.
Tech stocks were in the spotlight on Tuesday 盛宝银行-欧洲银行背景的多资产交易平台 盛宝银行-欧洲银行背景的多资产交易平台 as the markets continued to respond to Pfizer Inc.s vaccine news.
A further return to the new normal is expected to reduce the 盛宝银行-欧洲银行背景的多资产交易平台 amount of time consumers spend at home, which would reduce demand for tech platforms.
[fx-image src=https://www.tradingview.com/x/lh5O2Ihd/ data-zoom-target=https://www.tradingview.com/x/lh5O2Ihd/ originalWidth=941 ratio=1.52]
Its a particularly quiet day ahead on the Eurozone economic calendar. There are no material stats from the Eurozone to provide the majors with direction.
On the monetary policy front, ECB Lagarde is scheduled to speak late in the session. Lagarde has tended to avoid any forward guidance in scheduled speeches… Any comments would, therefore, influence.
From the U.S, there are also no material stats to provide direction late in the European session.
The lack of stats on the day will continue to leave the majors in the hands of COVID-19, Brexit, and U.S politics.
In the futures markets, at the time of writing, the Dow was down by 26 points, with the DAX down by 81.5 points.
For a look at all of todays economic events, check out our economic calendar.
Broker Updates During Oct. 19-25
摘要：Interactive Brokers 盛宝银行-欧洲银行背景的多资产交易平台 nabs $548 million in 3rd quarter revenue. On an adjusted basis, Interactive Brokers saw a drop in key metrics amid revenue fallout from 盛宝银行-欧洲银行背景的多资产交易平台 low interest rates.
3rd Quarter Revenue
1. Interactive Brokers nabs $548 million in 3rd quarter revenue. On an adjusted basis, Interactive Brokers saw a drop in key metrics amid revenue fallout from low interest rates.
2. Gain Capital pushes for CBM review to invalidate OANDA patent case. GAIN 盛宝银行-欧洲银行背景的多资产交易平台 盛宝银行-欧洲银行背景的多资产交易平台 盛宝银行-欧洲银行背景的多资产交易平台 盛宝银行-欧洲银行背景的多资产交易平台 believes if the CBM review is instituted, there is a “90%+ likelihood of unpatentability.”
Settlement with Regulator
3. CySEC Settles with Depaho for €270,000 over possible compliance lapses. This is the second time the broker has settled with the Cypriot regulator.
4. Ministry of Trade through 盛宝银行-欧洲银行背景的多资产交易平台 the Trade Supervisory Agency Berjangka Komoditi Indonesia (Bappebti) ran out of 89 unlicensed domain entities. As of August 2020, Bappebti has counted 777 domain entities. The blocking is carried out through the Ministry of Communication and Information.
5. Chicago-based Trading Technologies International, a global provider 盛宝银行-欧洲银行背景的多资产交易平台 盛宝银行-欧洲银行背景的多资产交易平台 盛宝银行-欧洲银行背景的多资产交易平台 of trading solutions, today announced in a joint statement with Applied Derivatives PTY LTD a new partnership to distribute its flagship TT trading platform 盛宝银行-欧洲银行背景的多资产交易平台 in South Africa.
Outsourcing Model Development
6. Banks rent ready-made algos for FX trading NatWest, XTX Markets and others develop new outsourcing model 盛宝银行-欧洲银行背景的多资产交易平台 for tech.
7. The Cyprus Securities and Exchange Commission said before that some of these illegal brokers were just spinoffs of previously shuttered companies while others misleadingly claim affiliation with other brokers that are already regulated in Cyprus and hold its CIF License. The watchdog has blacklisted the following domains:
Commonwealth of Independent States (CIS)
MIR Payment System
8. FortFS officially posted on its website that all cards of 盛宝银行-欧洲银行背景的多资产交易平台 the MIR payment system can be used to deposit and withdraw funds. Broker representatives noted that this system fully meets the security requirements.盛宝银行-欧洲银行背景的多资产交易平台
9. The Saxo Bank broker offers traders proprietary trading platforms. One of these platforms – SaxoTraderGO. SaxoTraderGO has won numerous industry awards: Best Retail Forex Trading Platform by FX Week e-FX Awards, best trading platform for mobile devices at JFEX Awards and others.
Switch to 盛宝银行-欧洲银行背景的多资产交易平台 Metatrader 5
10. Broker CFI Financial Group, whose activity is regulated by several specialized organizations, has completely switched to the new version of MetaTrader 5.