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Nearest MRT Buona vista Common room for 1 male student or professional at Holland Close blk 17,prefer malaysian male.single male owner. quiet enviroment. RENT 500.Immediate. Nearest MRT Clementi Hostel living! No owner, 1 lady a room, quiet great privacy. Immediate, very good price ranging Only from $400 to $480 incusive of ultities bill. Can cook, watch TV at tv louge. have fridge, waching maching and heater. Near Bus stop (many buses to town and all area) , amentities, Bt Timah shopping center,Beauty world, food center and CC 10 mins to Clementi mrt by bus 173. Suit professional ladies with tight buget. Clementi st 11 (sunset way) easy access to NUS and SIM, common room for ladies with aircon at $700.Prefer students or professional. Nearest MRT Bt Gomak Blk 305, Bt gomak common room for 1 to 2 pax, all race welcome . Full/furn with aircon, light cooking. Bus 188 direct to NUS. Immediate , $550 nego. Nearest Mrt Boon Lay: Blk 911, Jurong west st st 91. Chinese owner , common room for student or professional. 1 pax $450 , 2 pax $550. Blk 652A, Jurong west st 61, Malay owner, common room for ladies only 1 pax $450 , 2pax $550. Nearest MRT Lakeside Blk 481, Jurong west st 41 , chinese owner for 1 lady . only $420. Nearest Mrt Pasir Ris Blk 614 Elais Road, single indian owner, common room with aircon can cook only $550-$600.Avail immed Nearest MRT Braddel MRT Braddel view, aircon common room for rent, face pool, facilities with swimming pool and tennis court. $750. Nearest MRT Marsling Blk 319, woodland common room for rent. Quiet enviroment as landlord is a chinese elderly couple. Room simple furnished with aircon. Looking for 1 professional chinese at rent of $480.no cooking. Nearest MRT Boon LayFor ladies bedspace at Blk 908, Jurong west st 91. Near eateries and bus to MRT. 4 girls in a room at $200each.Chinese owner. For ladies bedspace at Jurong west ave 3 blk 273A , near sheng siong and 4 bus stop to MRT. 4 in a room $180 each. Chinese owner For Chinese Males at blk 757 Jurong west st 74, near sheng siong and Gek Poh. 4 bus stop to MRT. Master room 6 sharing at $200 each. Blk 811 Jurong west for chinese male at $200.immediate, chinese owner. Nearest MRT Clementi Blk 103, clementi st 11. bedspace for lady at $200. immediate Pls call Amy at 90013828 for further detailhttp://sg-rentalhome.blogspot.com/
Singapore PM warns of lengthy global slump CHA-AM, Thailand - Singapore's leader Prime has warned the global economic slump may last several more years if the U.S. doesn't fix its creaking banking system, a newspaper reported Saturday.Prime Minister Lee Hsien also called on President Barack Obama to resist pressure from the American public for protectionist policies such as trade barriers to protect homegrown industries during the downturn. Lee, in Thailand for the 14th annual summit of Southeast Asian leaders, told the Bangkok Post in a pre-summit interview that the U.S. _ the world's largest economy _ will be in recession for at least the rest of the year and could continue to stumble after that. "So you could easily be in for several years of quite slow growth worldwide. And I think it's best that we prepare for that, and prepare our people," said Lee, son of Lee Kuan Yew, the city-state's leader from 1959 to 1990. Leaders and top officials from the Association of Southeast Asian Nations _ a region of more than 500 million people _ are gathered in the Thai resort town of Cha-Am, 120 miles (200 kilometers) south of the capital Bangkok, for the grouping's 14th summit. The meeting, usually dominated by human rights issues, is overshadowed this year by the global economic meltdown, which has already dragged the export-dependent region's most advanced economy _ Singapore _ into recession. Thailand's economy shrank in the fourth quarter and others like Malaysia and Indonesia are facing rapidly slowing growth as exports crumble. Singapore warns that its economy will contract as much as 5 percent this year. The region _ which groups one of Asia's richest nations with some of its poorest _ is at the mercy of global economic winds, particularly from the U.S., a major export market for Southeast Asian countries. U.S. banks are loaded with hundreds of billions of dollars of toxic assets after the overheated American housing market imploded last year, sending shock waves through the global financial system. Lee said fixing ailing banks in the U.S. and some major European nations will require politically difficult and costly decisions such as nationalization, massive injections of capital, or governments buying the banks' bad assets. All involve nationalizing the banks "one way or another," he said. "I think the choices are not easy but they have to be made. If you do not make a choice then the outcome will be like what happened in Japan in the 1990s and it went on for more than a decade because the problem just lingered," said Lee. On protectionism, Lee said the openness of the U.S. economy had for years driven the increase in global trade and rising prosperity, all of which was at stake if the U.S. turned inward. "If America turns inward, it is going to do the world a lot of harm and do themselves a lot of harm," he said. YAHOO.EU.Messenger = new Messenger(); var sStoryHeadline="Singapore PM warns of lengthy global slump"+'%0A'; var sStoryLink="http://sg.news.yahoo.com/ap/20090228/tbs-as-asean-singapore-global-crisis-3c8dc0d.html"+'%0A'; var sDefaultMsg = 'Check out this story on Yahoo! News:';
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Is it true that valuation for HDB sales is going south?
Slower gains in consumer prices expected in 2009EYE ON THE ECONOMY CPI falls 0.2% in Nov; disinflationary effects of recession could be kicking in BY ARTHUR SIM THE consumer price index (CPI) is on the decline, falling 0.2 per cent in November compared with the previous month. And while the CPI rose 5.5 per cent year-on-year (y-o-y), HSBC economist Prakriti Sofat noted that it was the lowest reading in 11 months since December 2007 when it rose 4.4 per cent. Ms Sofat said that inflation eased on the back of falling transport and equipment costs, which contracted by 1.9 per cent y-o-y following a 0.2 per cent drop the previous month. "This is in line with international oil price inflation running at -40 per cent y-o-y in November," she added. November was also the month when the motor vehicle Certificate of Entitlement premium fell to a low $2. In terms of the other major components, food inflation fell by one percentage point to 6.9 per cent y-o-y, the lowest since February this year although still more than double the five-year average. Citigroup economist Kit Wei Zheng noted that on a month-on-month, seasonally adjusted basis, the fall of 0.2 per cent in inflation after a 0.8 per cent increase in October was the first decline since September 2007, "signalling that disinflationary effects of the recession could be kicking in". Mr Kit is forecasting inflation at 1.2 per cent for 2009. He added: "The recession will also have a disinflationary, if not temporary deflationary, impact if past recessions are taken as a guide. "We expect a further moderation in headline inflation in December to 5 per cent or under, before falling to around 3 per cent or under in Q1’09 as the higher base from the upward revision in HDB Annual Values in January 2008 kicks in, alongside lower electricity tariffs and the lagged impact of commodity price declines," he said. Mr Kit also noted that the moderation in y-o-y inflation was broad-based, with prices in five out of the seven categories of the CPI basket either falling or decelerating from October, while the other two categories rose at the same pace from October. Apart from a y-o-y drop in transport/communications and food costs, clothing/footwear inflation was at one per cent in November y-o-y, down from 1.2 per cent the previous month. Housing, at 15.7 per cent y-o-y, was also down from 16.4 per cent y-o-y in October, as was recreation/ others, which stood at 2.5 per cent in November y-o-y compared with 3.3 per cent in October. Health care and education/stationery costs rose at the same pace in November as in October. Barclays Capital Research analyst Wai Ho Leong believes that inflation is expected to recede from 6.6 per cent in 2008 to an average of just 0.6 per cent in 2009. He said that there were four factors that would continue to drive inflation sharply lower in 2009: lower petrol prices, weaker domestic demand, the reduction in electricity tariffs, and falling private residential rents. Get the link to the Department of Statistics’ news release at http://www.businesstimes.com.sg
Retail rents expected to fall in 2009Retailers likely to be cautious in expansion, rents may undergo corrections to reflect the gloomy outlook BY UMA SHANKARI [SINGAPORE] RENTS for prime retail space in Orchard Road could fall by as much as 13 per cent in 2009, while rentals at suburban malls are expected to ease by about 3 per cent, property analysts here said. Cuts in consumer spending will be the key threat to rental rates. But rents will also come under pressure from the 3.2 million square feet of new retail space expected to come onstream next year – close to half of which will be along Orchard Road. A poll of property analysts here showed that they expect prime retail rents to fall by anywhere between 5 and 13 per cent next year. But malls in the suburbs, where people go to buy their neccessities, are expected to fare better. Predictions for suburban rental growth range from "holding steady" to a decline of up to 7 per cent. The consensus view is a fall of about 3 per cent. By contrast, so far in 2008, prime Orchard Road rents fell 0.8 per cent year-on-year, while prime suburban rents rose one per cent, data from CB Richard Ellis (CBRE) shows. Consumers are expected to cut back on spending on concerns of job and wage security, which will hit the sales of retailers, analysts said. Tourist arrivals are also expected to fall, which will depress sales further. "A prolonged depression in consumer spending could affect retailers’ ability to service their rents and we think it is possible that more retailers would renegotiate for lower rental rates, and retail mall managers may have to give in to avoid a high turnover in tenants," noted OCBC Investment Research analysts Foo Sze Ming and Meenal Kumar in a report. Echoed Knight Frank: "Retailers will be more cautious in expanding their businesses and retail rents are likely to undergo corrections to reflect the gloomy outlook." In addition, more space is due to come onstream – some 5.7 million sq ft in the next two years. Of this, 20-30 per cent will be located along the Orchard Road belt. Another 21 per cent will come from the Marina Bay Sands resort. Some of the major retail supply due to be completed next year include Ion Orchard, The Marina Bay Sands Shoppes, Orchard Central, [email protected] and City Square Mall. But in spite of all the new space, analysts here remain confident that the healthy take-up of retail space seen so far is likely to keep vacancy rates under control and prevent sharp rental declines caused by oversupply. Most of the major upcoming malls – such as Ion Orchard, Orchard Central, Mandarin Gallery, [email protected] and Marina Bay Shoppes – have reportedly achieved pre-commitment rates of between 50 per cent and 70 per cent, said Colliers’ director for research and advisory Tay Huey Ying. And there should be interest for the remaining retail space, she said. The Orchard Road malls will "probably be the only new retail malls the market is likely to see on this prime stretch for a while" and the Marina Bay Shoppes "should also be sought after as the locality would be a new icon for Singapore", Ms Tay said. "The challenge, therefore, is really in structuring a rental package that is win-win for both landlord and retailer in an increasingly trying time," she added. Other analysts agreed, saying that the onus will be on landlords in 2009. "Prime properties will still be able to attract tenants, but developers must be more flexible with rental expectations," said Anna Lee, DTZ’s associate director for retail. "As consumers hold their purses tighter, landlords would have to spend more on advertising and promotion to entice more consumer traffic to their malls and translate that into spending." And to mitigate lower sales faced by their tenants, some landlords may offer rental rebates and lower turnover rents, she added. Analysts also said that capital values are expected to remain steady in the retail sector. "Of note is that the retail sector remains defensive even during the Asian Crisis period, with rental rates and capital values remaining fairly stable during this period. Hence, we believe that a fair cap rate for the retail sector would remain in the 5-6 per cent range," said DBS Group Research analysts Mun Yee Lock and Derek Tan.