In a country where 1 in 10 people are millionaires (defined as having at least US$1 million in investible assets, excluding property), Singapore’s real estate prices have surged to new highs after dipping momentarily in 2009. The average prices for private residential homes in particular, have risen more than 38 per cent for the year to June 30th 2010, well surpassing the historical peak achieved in 1996. The exuberance is so pronounced that it is not uncommon to see private apartments costing S$1 million to be sold out during a launch.

Singapore’s red-hot property market is fueled by easy credit and low interest rates, and an economy that expanded a mind-boggling 18 per cent year-on-year in the second quarter of 2010. The huge demand for residential property is also being driven up by the influx of immigrants, as the island republic works towards its ambition of achieving a 6 million population by 2012.

The question that is being asked by everyone now is whether Singapore property prices is in a bubble?

According to the Real Estate Developers’ Association of Singapore (REDAS), first time home buyers currently use 36 per cent of their monthly income on average to service their housing loans every month, well below the 50 per cent ratio achieved at the peak of the 1997 property boom. Most property analysts observed that a less than 40 per cent “affordability rate” indicates that Singapore property is still affordable.

However, like Australia, China and Hong Kong, Singapore’s government is not taking any chances and has moved to cool down the property market for a third time this year, amid fears of an unsustainable bubble. Last month, the government announced that it would impose a 3 percent tax on resales within the first 3 years of purchase, up from the previous one-year. The minimum deposit on second homes will also be raised from the current 20 per cent to 30 per cent of the purchase price. In addition, the government announced a stepped-up schedule for the release of land for the second half of 2010.

The government’s relaxation of certain housing policies will also make the common Design, Build and Sell Scheme (DBSS) flats more affordable to Singaporeans earning between S$8,000 and S$10,000, and who did not previously qualify for CPF housing grants for their purchase. This group of “sandwiched class” buyers have been snapping up private homes in the past year and thus, market observers opined that the policy change would shrink the pool of buyers upgrading from public housing to a private property, causing demand for private homes to soften.

In reaction, real estate developers may also hold back on property launches, and turn to preview sales instead. The majority of market analysts also expect these developers to be less aggressive in their bids for state land.

Market watchers are not surprised by the government’s series of measures to cool the housing market, in fact, some felt it is long overdue. Most analysts polled expect the latest moves to dampen Singapore’s private home sales by 20 per cent for the rest of 2010. Despite this blip, the prices of private homes are still projected to grow by up to 6 per cent for the second half of the year.

Overall, Singapore properties largely remain a highly attractive investment vehicle for those seeking higher returns than bank deposits and a hedge against inflation. However, the government is certain to implement more cooling measures should prices continue to rise rapidly.

As quickly as someone can announce the title of this article somewhere not only in urban areas of living, but also those suburban ones, too, a new apartment building is being built, a condo conversion is taking place. High rises, town homes, patio homes and lofts are being erected as they are extremely high in popularity, since the bigger, free standing home may not always be better for the urban and rural trekkers out there.

Many of these multi-unit meccas are also fully self-sustaining centers with convenience stores, coffee and internet cafes and even barber shops or salons built right in, if not located directly next door.

While these types of homes are certainly appealing to those who prefer more by way of ease and less in the way of inconvenience there remains one thing missing for the more assured security and safety your vehicle, a great deterrent, the personal home garage door.

Some of these dwellings and buildings do come with a parking garage but more often than not the property owner or tenant is assigned anywhere from one to two parking spaces outdoors.

While many arguments could be made that the indoor parking garage is a safer alternative to a personal garage with some containing security cameras and gates, possibly discouraging large numbers of criminal activity, different discussions could conclude that outdoor assigned spaces are better with easier visibility of the vehicle, more pedestrian traffic to deter theft and identification of those conducting illegal acts, however neither of these options can truly stop the ever increasing amount of car and truck break-ins and theft as effectively as the home personal garage door.

In a time where home requirements and preference are of an individual choice more than a necessity the issue of a break in occurring must always come to mind as a possibility that is as real as a vehicle lock out, the breaking or losing of keys (standard or keyless, transponder, V.A.T.) which in some cases are in need of reinventing or manufacturing, and the changing or fixing the locks or ignition of a vehicle on the premises.

In a condo community, apartment building or any of the numerous multi-unit residences that exist, or are being built, an intelligent and sensible suggestion would be that residents and building and maintenance staff would be extremely wise to familiarize themselves with a locksmith and his or her services in their local area for any of these frequent circumstances.

Remember to ask the locksmith as many questions as you might have in order to help educate yourself as much as you can regarding the appropriate measures and steps that can be taken for break-in and theft deterrence, as a locksmith can tell you, a career spent working in this environment also provides much needed insight that those outside of the locksmith industry might not think of.

Theft and criminal activity does happen in these open space parking lots and parking garages that appear secure. Protection of ones vehicle and knowledge of prevention work together!

Do your outside areas and parking lots look soiled, damaged, or old? This should be expected and not a surprise.

After a harsh winter, many properties may be looking worn. The effects of the brutal weather are evident everywhere. Take a walk outdoors and keep your eyes open. Sign posts have been knocked down by windy conditions. The striping on your parking structure has been obliterated by storm water and snow plows. The salt that was spread eroded the speed bumps and curb edges. All of this, combined with signs covered with graffiti and hedges squashed by negligent drivers, ensure that the property certainly needs some comprehensive spring time renovations.

Where’s the best place to begin? The following is a checklist for Spring Spruce Up so that you can start making sure the parking lot and outside space is visually appealing as well as clean and safe.

1. Put in new sign posts when old ones are twisted or rusty. Consider sign posts that are flexible so they bounce back to standing if hit. It’s worth your while as you will not have to replace them over and over again with new posts.

2. Stop signs or parking signs that are faded need to be replaced or renovated. Install bright fresh signs.. Buy the ones that are highly reflective and you’ll increase night visibility when headlights shine on them.

3. Protect yourself from those who would vandalize the property. You’ll spend a lot in time and effort if you have to replace signs that have been vandalized. When you are going to replace the signs, do so with an upgrade to those that have a protective coating. With this special coating, sunlight will not cause fading and graffiti will be easy to clean.

4. If curbs or speed bumps are cracked, it’s time to replace them. If you use rubber or plastic, you’ll never have to repaint again and they won’t fade or chip.

5. Redo the stripes in the parking lot. Hire a professional painting company to put fresh stripes back on your parking lot.

6. Go over the safety measures for the parking lot. In the warmer months, more folks will go outside. Put in signs at the crosswalks so people will know where they can safely walk and so drivers will know if certain areas are restricted to vehicles.

7. Fix the sidewalks where they have cracked. Take out the sealer and fill in any crack wider than 1/4″. Mend the little holes that appear as soon as you see them. This will prevent water from being absorbed which will consequently transform small potholes into bigger ones.

8. Make sure areas that are restricted because they’re not safe, cannot be easily accessed. Restrict access to vehicles or pedestrians by using traffic cones or tape to barricade some areas.

9. Perk up the outside grounds. Replace dying plant life with newer, healthier landscaping. Then put in some bollards for protection. Use security posts, called bollards, to make sure cars don’t mar the sidewalks and your landscaping efforts.

10. Take things off your property that have been damaged or are no longer in good shape. Fix tables and repaint them, and do the same with trash cans, bike racks, and other things, returning them when they are new looking and clean.

11. Put a reminder out regarding the smoking policy for your property. Put signs up that say whether smoking is allowed or not outside the doorways of buildings and in the outside areas where breaks are taken. Put out receptacles to catch cigarette butts so the sidewalk isn’t messy.

A Spring Spruce Up can make any outside space look new again, even if it is in really bad shape. Just use your checklist. Once you have new signs, a parking lot that is neat, and fresh landscaping, your grounds will provide a clean, secure environment that is also visually appealing.