http://www.straitstimes.com/Free/Story/STIStory_239497.html
THE slowdown in the Singapore housing market has prompted two banks to predict a dramatic plunge in home values in the next two years.
The reports, issued in the last two weeks, pointed to the malign cocktail of a flood of new homes coming on the market, climbing vacancy rates, a rising number of unsold condominiums and fewer rental transactions.
Note : Avoid property counters
Wednesday, May 21, 2008
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BNP Paribas has flagged high financial risks for small developers including Bukit Sembawang , Low Keng Huat , and Lian Beng , which have almost all their debts due within a year.
Even major builders such as Allgreen , KepLand and GuocoLand could face difficulties after steep drops in profit in the last quarter as they launch fewer projects, analysts say.
"We identify three developers, namely Allgreen, GuocoLand and Keppel Land, that could face some pressures on cash flow," JPMorgan analyst Christopher Gee said in a report, noting that gearing levels could be pushed up to between 80 and 130 percent.
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