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Singapore's Home Sales Fell by 39% in August 2009...

Written by Dennis Ng on .

Singapore’s August home sales slump 39% from July

Singapore private home sales fell 39% in August from the previous month after developers offered fewer new units.

Sales declined to 1,699 in August from the 2,767 units in July, according to data on the Urban Redevelopment Authority’s Web site today. That’s still more than five times the 325 units sold in the same month last year, when Singapore’s economy was mired in its deepest recession since independence.

Developers marketed 1,641 new units for sale last month, compared with 2,878 in July. Transactions last month may have been affected by the “Hungry Ghost Month” or the seventh lunar month that started on Aug. 19 this year, which is traditionally seen by the Chinese as inauspicious.

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Government Removes Interest Absorption Scheme and Release More Land for Sale...

Written by Dennis Ng on .

Singapore: Measures to pre-empt any speculative bubble from forming in the private property market have been outlined in Parliament by the National Development Minister.

Mr Mah Bow Tan said one of the steps to "temper the exuberance" of the market will be the immediate withdrawal of the interest absorption scheme and interest-only loans being offered for purchases of uncompleted property developments.

He told Parliament that both schemes could encourage speculation in a buoyant market as they lower instalment payments in the initial years.

Pointing out that property purchases are a major long-term financial commitment, the National Development Minister said the removal of the interest absorption scheme and interest-only loans will help make home buyers make careful decisions.

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Free Talk by Dennis: "How Average Person can Beccome Rich" on 12 Sep 2009

Written by Dennis Ng on .

As you might know, Dennis has written the First Bilingual (Chinese/English) book on Personal Finance, entitled "Mastering Your Personal Finance 如何做个理财掌门人.

This book was ranked the 2nd Bestselling Book in Popular Bookstores in Aug 2009!

The first print of 2,000 books were sold out in 1 month, now the 2nd Print is out in major bookstores, including Popular, Kinokuniya, Times, MPH and Page One.

On 12 Sep 2009, Dennis will be conducting a "Book Talk" at VIVO City Page One Bookstore, from 2pm to 3 pm.

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