SINGAPORE – When Mr Shawn Lau collected the keys to his two-bedroom Treasure at Tampines condominium unit in December 2023, he was anticipating a swift rental process in a market that seemed to promise lucrative returns.
However, what followed was a stark reality check. Landlords like Mr Lau have been left grappling with prolonged vacancies.
The once-hot rental market, characterized by high demand and good returns, has softened as newly completed units flood the market, real estate agents told The Straits Times.
Deals used to close within a day, but no longer, observed Mr Alex Low of PropNex Realty.
The…
Chancellor Jeremy Hunt will deliver his 2024 Spring Budget on Wednesday 6 March. It was originally thought he would introduce a 99% loan-to-value mortgage scheme, but recent reports suggest that plan has been abandoned. The Sunday Times also reports that holiday lets have been targeted for a tax raid by Hunt. The industry reflects on what they want, and expect, tomorrow.
Daniel Austin, CEO and co-founder at funding specialist ASK Partners
With housing set to be a battleground point in this year’s election, it is expected to feature heavily in Wednesday’s Budget. As the sector moves to the top of…
THERE could be around 22,000 fewer homes available to rent in Scotland at the start of 2024 than just a year ago, according to a survey by the largest landlord membership body in the country.
A survey of its members by the Scottish Association of Landlords (SAL) also found the biggest reasons for the drop were perceived hostility towards landlords from government and politicians along with concerns over proposals and increasing regulation in the sector.
The survey of SAL members was conducted in December 2023 to find out about the size of their rental property portfolios and how this has…
Key takeaways
Rental price growth has hit record highs, and there is now growing concern that the supply of rental homes could get even worse as higher mortgage costs hit landlords and government interference makes property investment less attractive.
The current national vacancy rate sits at just 1.1%.
One of the reasons for the lack of rental properties is because there are fewer investors buying property and the number of investors selling up has trended upwards.
According to the latest Australian Bureau of Statistics (ABS) data, there are nearly 10 million households in Australia, of which 66-67% are owner-occupiers. However,…
The rise of technologies, such as AI, and the solid growth in tourism-related sectors could drive Europe’s commercial real estate market next year, while the housing market struggles to get back on its feet and the rental market soars.
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European real estate investment is at a decade-low, and many forecasts expect 2024 to be the year to turn this trend on its head, not least due to potential key rate cuts.
For borrowing costs to shrink and the economy to rebound in many European countries, it’s vital that the European Central Bank (ECB) and the Bank of England (BoE)…
PHOENIX (3TV/CBS 5) — Arizona Attorney General Kris Mayes is suing RealPage and nine corporate-owned landlord operators, accusing them of illegally price-fixing apartments and other rentals in the Phoenix and Tucson metropolitan areas.
“In the last two years, residential rents in Phoenix and Tucson have risen by at least 30% in large part because of this conspiracy that stifled fair competition and essentially established a rental monopoly in our state’s two largest metro areas. RealPage and its co-defendants must be held accountable for their role in the astronomical rent increases forced on Arizonans,” Mayes said in a news release on…
“It is not a housing market that is working or fair,” says Sajjad Ahmad, who has been in the world of private renting for more than 40 years. “Rents are far, far too high.” But Ahmad is not one of the 11 million private tenants in England and Wales. Instead, he is among a growing number of landlords who now agree with many of their tenants that the system is broken.
He had 30 flats and houses across England – in Grimsby, Kirkby and Crawley – until he sold 16 last year. “I want to get out of the sector,”…
WA Units are selling almost as quickly as houses as desperate buyers seek to enter the property market.
According to www.reiwa.com data, houses sold in a median of eight days in February, while units sold in a median of nine days.
REIWA CEO Cath Hart said houses have been selling quickly for some time, but the speed of unit sales has accelerated in the past few months.
“Units are selling 13 days faster than they did a year ago,” Ms Hart said.
“Traditionally buyers prefer houses – we all like to have our own patch of land, and houses generally…