Property Soul - a Singapore property owner, buyer and investor

Property Soul - a Singapore property owner, buyer and investor An unbiased sharing of Singapore private property investment experiences and advice I have developed a strong passion for properties since young. P.S.

In my 20s, I was relocated to Singapore where I bought my first condominium unit at the end of 2002. I added four more to my property portfolio in 4 ½ years’ time. Propertysoul.com is a personal blog started in 2010, with two objectives in mind:
1. To share my experiences as a property investor in Singapore; and
2. To exchange ideas with fellow investors on accumulating wealth through properties.

In 2014, I released my first book No B.S. Guide to Property Investment. My new book is Behind The Scenes of The Property Market (2020). You can have a free preview of my two books at https://propertyclubsg.com/books

I also founded Property Club Singapore (www.propertyclubsg.com) to provide a neutral platform for the learning and networking of like-minded private property buyers, investors and owners. We do NOT source, market or sell Singapore or overseas properties .

Singapore's super-aged population is one problem. Aging private residential projects is a bigger problem. Singapore star...
24/03/2026

Singapore's super-aged population is one problem. Aging private residential projects is a bigger problem. Singapore started mass building of condos from the mid-1990s. Developers will face too many en bloc choices presented to them. With all the hassles involved, few will be successful in collective sale.

Over 1,000 of 3,750 private residential developments in Singapore are at least 30 years old now. In ten years' time, one-third of them will be 40-year-old. These older condos are inhabited by the elderly who may not have the resource to support big maintenance projects. Yet they are not entitled to any subsidies or grants by the government. With another decade when they reach 50-year-old. Whether it is 99-year leasehold or freehold, these old condos will be beyond repair. Because of their old age, these old residents are reluctant to downgrade or move to an unfamiliar place. They will live in under-maintained shabby units.

"More than 1,000 of the 3,750 private residential developments in Singapore are at least 30 years old. Not all will have enough money to fix maintenance issues such as lift breakdowns, spalling concrete and water seepage."

Any government co-funding will be targeted at safety upgrades for such older lifts, it said. Read more at straitstimes.com. Read more at straitstimes.com.

Singapore is the 3rd most indebted country in the world after Hong Kong and Japan. Singapore's total debt (combining hou...
23/03/2026

Singapore is the 3rd most indebted country in the world after Hong Kong and Japan. Singapore's total debt (combining household, corporate, and government borrowing) is 347 percent of its GDP.

Across both developed and developing economies, governments are not alone in feeling the pinch of high debt burdens.

I remember Straits Times said "Singapore crosses the super-aged threshold in 2026",. Why suddenly postpone to 2030 now? ...
22/03/2026

I remember Straits Times said "Singapore crosses the super-aged threshold in 2026",. Why suddenly postpone to 2030 now? Some citizens approaching 65 somehow stop aging?

Gaps in the eldercare and retirement housing landscape can be addressed with regulatory changes Read more at The Business Times.

"That period coincided with the outbreak of an ongoing trade war with the US, Canada’s largest trading partner. Though t...
21/03/2026

"That period coincided with the outbreak of an ongoing trade war with the US, Canada’s largest trading partner. Though the majority of Canadian exports to the US have so far been exempt from higher levies by a preexisting trade agreement, that deal is up for review this year, stoking the anxiety that’s already affecting Canada’s economy.

Meanwhile, the war in Iran has led to a spike in energy and other costs, making the economic outlook more uncertain.

Across Canada’s housing market, the prospect of continued economic turmoil may be making buyers and sellers more wary. Transactions fell 1.3 per cent in February from the previous month, while new listings dropped 3.9 per cent, according to the real estate association.

The Bank of Canada hasn’t hinted at further interest-rate cuts, and the number of homes listed for sale is 3.7 per cent higher than a year ago. That’s given buyers who remain in the market both the leverage and incentive to keep pushing for lower prices."

Sellers forced to offer bigger discounts to reluctant buyers Read more at The Business Times.

If you study the past new private home sales results in January and February in the past years, with or without Chinese ...
20/03/2026

If you study the past new private home sales results in January and February in the past years, with or without Chinese New Year, Singaporeans still visit and shop at new launch sales galleries if the property market is hot. As usual, industry stakeholders are defending and self-explaining dwindling sales. They also pray with optimism that the property market will stay intact amid uncertainties of global economy caused by the Middle East crisis.

Sales are expected to ramp up in the coming months as more ‘attractive’ projects hit the market, analysts say Read more at The Business Times.

The domino effect of runaway oil prices is that fuel, logistics, supplies and all related costs will be going through th...
19/03/2026

The domino effect of runaway oil prices is that fuel, logistics, supplies and all related costs will be going through the roof. The Middle East war changes rate cut expectations to rate hike worries. As Powell said, "the possibility that the Fed’s next move might be an increase did come up at the meeting as it did at the last meeting”. Let's pray that the saga of 11 consecutive times of raising rates in 16 months between March 2022 and July 2023 won't repeat itself again these two years.

Oil prices have jumped from below US$80 a barrel to US$108 ahead of the central bank’s policy decision Read more at The Business Times.

Using Singapore as a stepping stone for Chinese companies to detach from their country of origin, create a global brand...
15/03/2026

Using Singapore as a stepping stone for Chinese companies to detach from their country of origin, create a global brand image and ultimately list in the US or Hong Kong stock exchange - sometimes it works, sometimes it doesn't. The latter means China will see them as a traitor, while consumers still see them as another China brand. As China slowly becomes a super power in latest technologies, the need to do such rebranding will be unnecessary one day.

“Singapore-washing is only credible and effective for companies which fully cut off their operational ties to China," one expert said.

Another example of a company's revenue and profit tumble after listing in the stock market. Hopefully, selling its asset...
14/03/2026

Another example of a company's revenue and profit tumble after listing in the stock market. Hopefully, selling its assets can create more one-time gains to boost the report card in the next financial year.

"The co-living operator posted a net profit of S$5.7 million for the second half ended Sep 30, a 75.1 per cent decline from S$22.9 million in the year-ago period. Its revenue stood at S$23.7 million, 26.8 per cent lower than the S$32.3 million in H2 FY2024. These results come after it listed on the Singapore Exchange in November last year. It had 5.3 million public offer shares, which were around 20.7 times subscribed."

The portfolio consists of commercial units, serviced apartments, a hotel and student hostels Read more at The Business Times.

After the Prive Group closed last September, the latest local F&B brand that exited the Singapore market is The Providor...
13/03/2026

After the Prive Group closed last September, the latest local F&B brand that exited the Singapore market is The Providore. It was sold to new investors last April but they quit after less than a year.

"The Providore Singapore was founded in 2013, and over the years, as a restaurant, cafe, deli, and bakery focused on high-quality food, became a destination for food lovers. It operated several outlets in locations such as Mandarin Gallery, VivoCity and Raffles Place. "

According to an announcement on social media, the stores will close from Monday (Mar 9).

Does it still make sense for NUS to report Q4 2025 Real Estate Sentiment Index on concerns of job losses and local econo...
12/03/2026

Does it still make sense for NUS to report Q4 2025 Real Estate Sentiment Index on concerns of job losses and local economic slowdown? Since early March Middle East already became a warzone. Now everyone is talking about escalating oil prices,, potential runaway inflation, renewed rate hike fears. Is Singapore or the property market existing in a different planet?

Slowdown in economy is flagged as top risk amid robust housing demand at premium price points Read more at The Business Times.

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