Seminars can be investment guide

PUBLISHED : Friday, 19 July, 1996, 12:00am
UPDATED : Friday, 19 July, 1996, 12:00am

A series of lectures on trends in the property market will be held at the Singapore Expo.

They are designed to inform visitors about the latest developments and new government rulings on buying and selling property.

The seminars will also provide property investment information and advice on choosing a good location.

Financial, legal and property representatives from the Bank of America's Singapore branch, the Reunion Company Ltd (Hong Kong) and Wendy Wong Koh and Suparto, Singapore, will speak on credit requirements for foreigners, new government regulations on personal and property financing and Bank of America credit facility packages for Hong Kong residents.

Residential property prices in Singapore have risen sharply over the past five years with condominium prices in prime locations going up by as much as 150 per cent. Residential property prices have continued to rise. Prices increased by 10.3 per cent in 1995 and by 42 per cent in 1994.

The upward trend continued in the first part of this year. Several newly launched developments were sold within days, prompting concern over speculators and 'soft launches' by developers and their discount tactics.

In May, the Singapore Government announced measures to cool the residential property market. They included new policies on financing, taxation on resale and stamp duty plus a new approach to the supply of government land.

Analysts are now watching to see if the measures stabilise property prices or trigger a downturn in the market despite favourable macro factors such as robust economic performance, increasing incomes and wealth, low cost funding and continued foreign investment in Singapore.