TREND OF PROPERTY MANAGEMENT FEES (RESIDENTIAL STRATA TITLES) 1979-1984

Abstract

Singapore's technological advancements in the building industry and its accelerated construction programme during the last decade has transformed the physical landscape of an old trading port to that of a bustling city. As a result, half of Singapore's land is now developed and these capital assets are worth $85 billion. Big or small, every building or estate requires to be managed in one way or another. Due to stringent enforcement by the authority, many building owners leave the mundance choice of management to managing agents. Owners, while more than willing to hire professional management firms to oversee the property, are often skeptical of the costs charged by these firms. In fact, the subject of property management fees has stirred up considerable interest lately. It is on these premise that this dissertation was undertaken. This dissertation traces the behaviour of property management fees from the period 1979 to 1984. The trend of property management was also studied in relation to the property price index and the supply of high-rise developments.