U have to appreciate the context at the time of launch. Developers set their price based on market sentiments and also relative to other launches.
�
few months before Duo, jurong east gateway sold out 700+ units in 1 day at $1,500 psf average (no thanks to sudden CM announcement). This made Duo attractive at average psf of $2,000 (excluding studios)
�
at the end of day, prices are relative and seldom reflect fundamentals�
�
And the context now is such that the bay area units are priced much more attractive than Duo Residences. Those are going for $2000+ a foot as well and makes them attractive relative to Duo.
�
I'm not harsh on the rich people lah. I'm just harsh on Botanic Gardens. It is not as nice as what it seems�
And the context now is such that the bay area units are priced much more attractive than Duo Residences. Those are going for $2000+ a foot as well and makes them attractive relative to Duo.
I'm not harsh on the rich people lah. I'm just harsh on Botanic Gardens. It is not as nice as what it seems
Yup no point being harsh on yourself lah.
We should meet up for cigar soon but only if you bring your two jap "body"guards
CDL says prime land exorbitantly priced.
�
http://www.bloomberg...ading-developer
�
Hmm I thought they want govt to lift some of the property curbs?�
CDL says prime land exorbitantly priced.
http://www.bloomberg...ading-developer
Hmm I thought they want govt to lift some of the property curbs?
You know, its like when someone knows that he stupidly overpaid for a watch and cant get rid of it at a decent price. He will say that in future prices will be higher.
Who the f**k doesnt know that in 20yrs it will be higher?
But its being able to make money the next two years ten times over that is difficult.
Property people are know to be the most prata flipping, with bankers a close second
Muayhahahaha
Edited by Throttle2, 12 May 2016 - 02:09 PM.
And the context now is such that the bay area units are priced much more attractive than Duo Residences. Those are going for $2000+ a foot as well and makes them attractive relative to Duo.
�
I'm not harsh on the rich people lah. I'm just harsh on Botanic Gardens. It is not as nice as what it seems�
�
when you tell me you stay at bugis MRT area, i only think of the rochor HDB flats lol. But now they've moved on. So only left Duo residences lol.
when you tell me you stay at bugis MRT area, i only think of the rochor HDB flats lol. But now they've moved on. So only left Duo residences lol.
His penthouse has a view of marina bay sands and the singapore waterfront.
Definitely not rochor.....
He still stays there because he ply his trade in the night cross dressed in fishnets and high heels ...when you tell me you stay at bugis MRT area, i only think of the rochor HDB flats lol. But now they've moved on. So only left Duo residences lol.
15% tax on transacted price on unsold units (ABSD for corporate buyers) versus 8% penalty on land purchase price (smaller base, exclude construction cost and margin) in year 1 (QC rule) might seem like a no brainer but the latter increases to 16% in year 2 and 24% in subsequent years of extension (amount pro-rated to the proportion of unsold units) for all non resident developers (Public listed companies included). Unless these developers take the view that CM will be removed soon, it would not make sense to pay the rising penalty year after year, the penalty is not one off but payable yearly. That is why there are talks of locally listed developers delisting from SGX recently.Is it even necessary to hide the relationship between the developer, and a company who scoops up the remaining unsold units? There is no need to go to such an extent.
Take for example, Mon Jervios. Singland bought the land for $118.9M in Feb 2012 Out of the total of 109 units, 50 units are sold, leaving 59 units unsold. Using an average of $1,822 psf (past transactions for the 50 units sold), and take an average floor size of each remaining unit at 1,000 psf, the total remaining value of the 59 units stand at $107.5M.
A company is set up by the developer to purchase these remaining unsold units. The 15% ABSD cost incurred is $16.1M. This costs is higher than just paying the potential 5-year deadline ABSD penalty of $11.89M (plus interest).
So in this instance, it is not worthwhile for the developer to mop up the remaining unsold units. The developer is better off biting the bullet, and just pay up the 5-year ABSD penalty with the benefit of holding the selling price steady.
So, when the deadline is near and govt announced CMs are not going away anytime soon, you can go ask for up to 14.9% discount and a deal might be done.
There are some fancy schemes out there to get around the CMs but so far none has worked very well. You will be a rich man if you can come up with a solution.
Edited by Voodooman, 12 May 2016 - 11:59 PM.
Holland Road GCB for sale at $30 mil
May 12, 2016
Good Class Bungalow in the Maryland GCB estate has been put up for sale by private treaty, with Savills as the marketing agent. The GCB has access from both Holland Road and Sixth Avenue and the guide price for the property is $29.99 million, or $1,562 psf based on a land area of 19,200 sq ft.
The freehold property is located on an elevated site. Completed 12 years ago, the double-storey bungalow has seven en suite bedrooms, a 12-seater theatre, a 30m lap pool, family and entertainment areas as well as a basement. There is a lift from the basement to the second level and the porch can park four cars. Its additional purpose-built temperature-controlled glass garage can accommodate two vintage cars.
Attached Thumbnails
JUST SOLD: Most expensive five-room HDB in Toa Payoh this year
May 12, 2016
A five-room HDB flat at 79C Toa Payoh Central, Central Horizon, was sold for $880,000 on April 29. This is the most-expensive transaction for five-room flats in Toa Payoh this year.
Cheaper, larger resale homes lure buyers away from new condos
May 12, 2016
New homes are getting smaller and smaller.
Pre-owned homes are hot commodities in Singapore�s sizzling private residential resale market. Resale transaction volume jumped by 17.6% month-on-month in April, with the number of homes hitting a record high since before cooling measures were rolled out in May 2013.
Eugene Lim, key executive officer at ERA Realty, noted that resale homes are particularly attractive because pre-owned units usually offer greater value for money.
�Resale units typically are larger in size while priced quite similar (in terms of price quantum) to new apartments. So buyers may feel that they are getting a better value for money in terms of living space. In addition, buyers who have immediate housing needs prefer to purchase from the resale market,� he said.
Data from CBRE Research show that the median size of new homes sold in the first quarter was 753 square feet, slightly smaller than the 764 sf for homes sold in 2015. This is also a far cry from the 900 sf recorded for homes sold in 2011.
SRX Property�s statistics also show that resale prices in the Core Central Region (CCR) and the Rest of Central Region (RCR) rose by 0.7% and 1.3%, respectively, while prices of mass-market homes in the Outside Central Region (OCR) dropped by 0.2% month-on-month.
Going forward, Lim reckons that resale transaction volume will remain robust for the next few months before cooling off during the Hungry Ghost month.
Dude,this is wat im talking abt... 1 offshore spv per unit... when millions are involved, wat is a few thousand admin fee to setup n strikeoff later?
if i typed out d entire process in 1 post, soon garmen will b looking for me to find out how come i know so much abt tax avoidance lol...
but anyway im not saying anyone is doing this... just guess only
Even if it is one SPV per unit, the transfer from the developer to these SPVs will incurr one round of ABSD already.
When the SPV sells to end consumer, kena whack SSD.
So in the end, i am not so sure there is any saving at all.
Or worse.
But either ways, developers with unsold units , swollen swollen......muayhahahahahahaha
Edited by Throttle2, 13 May 2016 - 01:11 AM.
Dude,
Even if it is one SPV per unit, the transfer from the developer to these SPVs will incurr one round of ABSD already.
When the SPV sells to end consumer, kena whack SSD.
So in the end, i am not so sure there is any saving at all.
Or worse.
But either ways, developers with unsold units , swollen swollen......muayhahahahahahaha
�
Dev can sell the SPV to the end consumer if the ownership structure is murky enough.
�
But this only applies to super high end GCB or condo where the owner is savvy enough to navigate this kinda nonsense. Stupid fellows like me will treat it as a scam.
Dev can sell the SPV to the end consumer if the ownership structure is murky enough.
But this only applies to super high end GCB or condo where the owner is savvy enough to navigate this kinda nonsense. Stupid fellows like me will treat it as a scam.
Sure, its no rocket science. People have been doing it and the authorities are aware.
But what i am saying is no matter what, developers cannot avoid paying something for unsold units.
Not forgetting that selling the SPV instead of the unit itself, can today constitute as a wilful resort to avoid stamp duties.
No lah, developrs dont wanna go that way....lah
Developers, buyers, whatever vehicles.
Want to live in, HDB better. Want to invest at lower costs with lower capital, many other options better.
Investing in housing in SG will not get any cheaper for anyone.
Sure, its no rocket science. People have been doing it and the authorities are aware.
But what i am saying is no matter what, developers cannot avoid paying something for unsold units.
Not forgetting that selling the SPV instead of the unit itself, can today constitute as a wilful resort to avoid stamp duties.
No lah, developrs dont wanna go that way....lah
Simply put, whoever wants to hoard housing for investment will be expected to pay more starting from now.
Developers, buyers, whatever vehicles.
Want to live in, HDB better. Want to invest at lower costs with lower capital, many other options better.
Investing in housing in SG will not get any cheaper for anyone.
Mister, i have been saying this for quite long liao.
Properties as an investment for me is no longer attractive since late 2013.
This doesnt mean that it will not get cheaper or that things wont change.
When it does, perhaps its time to act differently
Feel free to have your own opinion and act accordingly.
Good Friday the 13th to you.
My feel is if it does get significantly cheaper, the first to buy in will be the developers themselves.
They will then feed on the small yields for years and wait out the SSD period.
SGD already depreciated about 4% to USD since April. I doubt they want to exchange housing stocks for cash and hold no inventory.
Mister, i have been saying this for quite long liao.
Properties as an investment for me is no longer attractive since late 2013.
This doesnt mean that it will not get cheaper or that things wont change.
When it does, perhaps its time to act differently
Feel free to have your own opinion and act accordingly.
Good Friday the 13th to you.
Are properties near �famous� schools more expensive?
May 13, 2016
Are strata houses a good investment?
May 13, 2016
Attached Thumbnails
Developers play a game of one-upmanship
May 13, 2016
Showflat of a one-bedroom unit at Gem Residences. The fully fitted unit comes with Smeg appliances such as oven, refrigerator and washer-dryer.
Attached Thumbnails
Rents for private homes fare better than HDB flats
MAY 12, 2016
Is the preliminary success of Sturdee Residences over?
�
This morning, we examine closely the sales of Sturdee Residences.
�
http://www.theedgepr...y-higher-prices
�
On 29 Apr, an article on the Edge property website reported a 40% uptake during a VIP preview launch of Sturdee residences.� This represents 122 units sold out of a total of 305 units.�
�
Looking through the information available on Edge property website and the official Sturdee Residences website, the sales statistics (as at 12 May) now stands at 54.4% sold.�� Another 14.4% uptake within 2 weeks.� All seems well.�But is it?�
�
�
Here is a look at the breakdown of sales in terms of unit size:
�
�
Close to half of the sales (47.5%) are generated through the sales of 1-bedders, followed by 2-bedders (34.5%), making up 82% of total sales so far.�
�
Here's the problem.� Much of Sturdee Residences sales are generated through the sales of 1- and 2-bedders.�
�
With�the smaller units�almost fully sold (i.e.� 9 1-bedders�unsold, representing 3% of total no. of units, and 49 2-bedders unsold, representing 16% of total no. of units), the developer has to start moving the�less popular bigger-sized units (108 3-bedders and above unsold�-��representing 35.4% of total no. of units) to continue its sales momentum, else�its success simply comes to a halt, like many other developments (Case in point: Alex residences, as illustrated in my earlier post in the thread "New Bargains to be had").
�
Over the course of this�weekend, more sales can be expected, thus�I might be proven wrong, but history has a strong tendency to repeat itself.
�
Watch this space, for another update on Sturdee Residences from yours truly in the near future.
�
Edited by tenyawph, 14 May 2016 - 09:49 AM.
Another thing to consider is the date of TOP. The number of sales can be projected to see if the developer can confidently sell all before CSC.
This mode of selling is more rational.
Is the preliminary success of Sturdee Residences over?
This morning, we examine closely the sales of Sturdee Residences.
http://www.theedgepr...y-higher-prices
On 29 Apr, an article on the Edge property website reported a 40% uptake during a VIP preview launch of Sturdee residences. This represents 122 units sold out of a total of 305 units.
Looking through the information available on Edge property website and the official Sturdee Residences website, the sales statistics (as at 12 May) now stands at 54.4% sold. Another 14.4% uptake within 2 weeks. All seems well. But is it?Sturdee Statistics as at 12 May.jpg
Here is a look at the breakdown of sales in terms of unit size:
Close to half of the sales (47.5%) are generated through the sales of 1-bedders, followed by 2-bedders (34.5%), making up 82% of total sales so far.
Here's the problem. Much of Sturdee Residences sales are generated through the sales of 1- and 2-bedders.
With the smaller units almost fully sold (i.e. 9 1-bedders unsold, representing 3% of total no. of units, and 49 2-bedders unsold, representing 16% of total no. of units), the developer has to start moving the less popular bigger-sized units (108 3-bedders and above unsold - representing 35.4% of total no. of units) to continue its sales momentum, else its success simply comes to a halt, like many other developments (Case in point: Alex residences, as illustrated in my earlier post in the thread "New Bargains to be had").
Over the course of this weekend, more sales can be expected, thus I might be proven wrong, but history has a strong tendency to repeat itself.
Watch this space, for another update on Sturdee Residences from yours truly in the near future.
Hi. Can you project the number of sales for Alex residences for the next 2 years? Thank you.Good analysis of the trend of demand. Generally it's true that for most developments the 1BR will get sold out first. There are several reasons for this.
Another thing to consider is the date of TOP. The number of sales can be projected to see if the developer can confidently sell all before CSC.
This mode of selling is more rational.
If based on current trend it should sell another 5%. When TOP or near maybe another 10-15%.Hi. Can you project the number of sales for Alex residences for the next 2 years? Thank you.
Left 25% will be either slowly sell mode, or dependent on the mega environment.
The whole sales that Alex achieved in 2.5years is equivalent to that achieved by Sturdee in a matter of weeks.
Nonetheless, it is very unlikely to sell out the huge quantum large units as you described.
The reason for what we are observing now is not lack of willingness to buy, but lack of ability to buy. Taken together, ability plus willingness equates demand.
Edited by Showster, 14 May 2016 - 01:24 PM.
You can see that bigger units buyers tend to be for self stay, esp more than 3 bedrooms cos in the market, very difficult to rent 4 bedders out as the pool of tenants are limited.
While it is generally true that 1 Br units tend to get sold out first, way before penthouses (always the last to go)
times have changed,
The property investment climate and strategies have changed based on all the reasons that have been discussed previously in this thread.
In good times, all the 1 Br/studios will be sold out before or on launch day. Usually no chance if you do not prebook or go for ballot.
But now, a no of new developments which are near MRT still have 1 Br units left (Poiz, Sturdee etc) eventhough quantum is still very small, 600k
The reason is that the appetite for this has dropped and competition for 1 Br is and will be very stiff for rentals compared to a decent size 2 Br.
The big quantum units outside CCR always�hard and the last to clear whether in good or bad times
�
Good analysis of the trend of demand. Generally it's true that for most developments the 1BR will get sold out first. There are several reasons for this.
Another thing to consider is the date of TOP. The number of sales can be projected to see if the developer can confidently sell all before CSC.
This mode of selling is more rational.
�
�
Primarily is the impact of ABSD.While it is generally true that 1 Br units tend to get sold out first, way before penthouses (always the last to go)
times have changed,
The property investment climate and strategies have changed based on all the reasons that have been discussed previously in this thread.
In good times, all the 1 Br/studios will be sold out before or on launch day. Usually no chance if you do not prebook or go for ballot.
But now, a no of new developments which are near MRT still have 1 Br units left (Poiz, Sturdee etc) eventhough quantum is still very small, 600k
The reason is that the appetite for this has dropped and competition for 1 Br is and will be very stiff for rentals compared to a decent size 2 Br.
The big quantum units outside CCR always hard and the last to clear whether in good or bad times
1st property 0%, 2nd 7%, 3rd onwards 10%.
Therefore for 1st and 2nd property buyers may tend to buy the biggest they can afford before considering 1BR from the 3rd.
Any news, folks?
Just back from a spin on my motorbike...
*yawn*
Any news, folks?
Just back from a spin on my motorbike...
Looks like we are far richer than Hong Kong and not as affected by Chinese slowdown.
Hong Kong Property Market in 'Free Fall': Hayman's Bass
http://www.bloomberg...is-in-free-fall
SG already fell quite some distance from 2013.
�
If the Govt garang followed HK from 2013-2016, we will definitely have a pronounced fall now.
�
Looks like we are far richer than Hong Kong and not as affected by Chinese slowdown.
Hong Kong Property Market in 'Free Fall': Hayman's Bass
http://www.bloomberg...is-in-free-fall
�
Looks like we are far richer than Hong Kong and not as affected by Chinese slowdown.
Hong Kong Property Market in 'Free Fall': Hayman's Bass
http://www.bloomberg...is-in-free-fall
HongKong is a country with higher market volatility compared to Singapore.
Hongkongers are higher risk takers
So can lose more
But can also make more.
bro, be careful not to over train until like this hor
�
�
No worries this will never happen to Porker.
�
He is more a one hand man.�
�
Attached Thumbnails
Edited by Jamesc, 14 May 2016 - 10:07 PM.
:)
I'm ambidextrous
I'm ambidextrous�
Is that why Turboflat4 always has a smile when he's with you?�
Edited by Sabian, 15 May 2016 - 11:48 PM.
Things maybe turning around soon...
�Nowadays , my generation and younger ones are internet savvy. Agents may have to get prepare for lower earnings.
�
https://sg.finance.y...-010438299.html
�
�
i go view 700sqft 2br mickey mouse condo, no dignity to talk to property agent
�
Top property agents earn 66% more than average Singaporean
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�
We are listed as one of the highest public debt country in the world. There is a danger of trigger down effects on our currency in longer term. Hence, this may affect property value and increase of repayment of interest. So far rating agencies still put us with high hopes. To me, it is something to concern about for longer term.�
�
Public debt as percentage of GDP: 97.77%
�
http://www.msn.com/e...gnoutmd#image=2
10,000,000 .... huat ah!
highlighted town for T2 ... CCK ![[thumbsup]](https://lh3.googleusercontent.com/blogger_img_proxy/AEn0k_vchm4CasBQCvWBzYbyQUJ1kB5SfS1PLZfHi8mL0XPPw7uqc_AIPk2Y6RsSKtmjzQW2wJzDkLUe7LMj1gJv3v3nnl1vUVZr9eWbspbhSVRmiy0qpIiEtDSPwlC78oAFppn-j1lIIdtp=s0-d)
![[laugh]](https://lh3.googleusercontent.com/blogger_img_proxy/AEn0k_tdoI9DZTG9-m4DZGiHx7KOM2Qu5FBR5hY9lKA5Z34-HtbJzlBSJmXpJJ0Kb0NzaMwRrbKcOwHSc-7sDuHAsPlYc59Jtfv6cpLj_CfHKupH3fZLthy29gQebkKRQd_Cnd-fJhyAVQ=s0-d)
Attached Thumbnails
Edited by Wt_know, 16 May 2016 - 03:09 PM.
I am going to be a millionaire!
Our public debts are backed fully by our public assets (reserves). No issue at all.
�
What MAS is concerned over is private debt which is high indeed as a % of GDP. My sensing is currently people overall may not mind borrowing more but there is a limit to how much as a whole people can be allowed to borrow.�
�
That's why we praise the CMs.
�
We are listed as one of the highest public debt country in the world. There is a danger of trigger down effects on our currency in longer term. Hence, this may affect property value and increase of repayment of interest. So far rating agencies still put us with high hopes. To me, it is something to concern about for longer term.�
�
Public debt as percentage of GDP: 97.77%
�
�
Edited by Showster, 16 May 2016 - 05:52 PM.
10,000,000 .... huat ah!
highlighted town for T2 ... CCK
�
�
Don't have to worry too much for the next 20 years, in terms of land scarcity.� Singapore has plenty of land in the short-term.
�
Paya Lebar Airbase will be relocated from 2030 onwards, freeing up a land space which is equal to Toa Payoh and Bishan combined. i.e. accommodate�over 100,000�housing units.�
�
The container facilities in Tanjong Pagar, together with Keppel and Brani, will be relocated to Tuas by 2027, freeing up more land, which is equal to 2.5 times the size of Marina Bay (i.e. accommodate over 90,000 housing units).�
�
http://www.straitsti...es-and-industry
�
The 6.9M population white paper, talks about�having 6.9M by 2030.� This is not an ultimate goal, but an interim one.� Singapore will press ahead to reach 10M population within 50 years.�
�
What is scarier, is how we have to plan for our future, for the next 50 years.
�
When the white paper was released in 2013, there was an uproar from Singaporeans.� This was expected, as our infrastructure, especially the MRT and public transport, public and private housing,�was clearly straining from the surge in the number of residents in Singapore caused by the influx of foreigners in the last decade.
�
But because of this influx of foreigners into our country, Singapore was able to grow economically in the 2000s and 2010s, never mind that labour productivity was languishing�in the low digits.� We are increasing GDP output by adding more labour (no brainer).�
�
As our local population ages rapidly and less young people becomes�available for work, this means that more working adults will have to support the retired and aged, in order to maintain the GDP's growth.� This becomes a vicious cycle, as more foreigners are needed to�cover the shortfall due to�our�local labour shortage.�
�
So fast forward to 50 years later, when our population hits 10M.� Where are the extra 4M�going to stay?�� The Singapore government has a good answer for this problem, although�our government cannot make it obvious to us yet.�
�
Iskandar, Johor (bigger than the size of Singapore), will be our next residential area for the majority of the extra 4M population�in the future.� Imagine this: Iskandar will be to Singapore�what Kowloon and New Territories are to Hong Kong main Island now.
�
At this moment, Iskandar is facing an indigestion of having too many�properties being built, and property prices there are being�depressed for now.��
�
PS:
Many years back, Minister KBW talked about sending our old-aged parents to stay in homes in Johore.� Many people were very visibly upset. But he was talking about the far future (not the near future).� Our future homes (of our grandchildren) will be in Iskandar, not on mainland Singapore, which will become very expensive.
We are increasing GDP output by adding more labour (no brainer).�
�
�
yup ... just keep bringing people in to increase GDP ...�
10,000,000 .... huat ah!
highlighted town for T2 ... CCK
�
�
Serangoon 30K only???
Ya. private debt is pretty bad recently. Private is roughly about 90% to GDP. I see many debt collectors running around.
�
Our public debts are backed fully by our public assets (reserves). No issue at all.
�
What MAS is concerned over is private debt which is high indeed as a % of GDP. My sensing is currently people overall may not mind borrowing more but there is a limit to how much as a whole people can be allowed to borrow.�
�
That's why we praise the CMs.
�
Top five best-selling projects in April
May 17, 2016
There were two new launches in April - the 305-unit Sturdee Residences and The Asana, which has 48 apartments.
There are now fewer unsold units in the market, thanks to this steady rate of demand soaking up developers' inventory and the reduction in Government Land Sales since 2014, said Mr Alan Cheong, Savills Singapore research head.
The stock of unsold private homes has fallen from 20,433 in April 2015 to 16,718 in April this year, he noted.
Attached Thumbnails
That's the way to go by squeezing more people. One day, it could be like Hong Kong. Everywhere is people. we need more "BHBT" 
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�
Aleast I got a place in Australia for future get away with all the over-crowding problems.��
�
�
yup ... just keep bringing people in to increase GDP ...�
�
That's the way to go by squeezing more people. One day, it could be like Hong Kong. Everywhere is people. we need more "BHBT"
�
Aleast I got a place in Australia for future get away with all the over-crowding problems.��
�
good that u can go australia
�
i fear most singaporeans can only go to iskandar and live in pigeon holes there upon retirement...�
![[sweatdrop]](https://lh3.googleusercontent.com/blogger_img_proxy/AEn0k_sAGUMyXBNopyjyVWlb5O1zQsgLTQ-dwUA9lgpnReWuX3tDU8VjGWm8ln0ja_pNMiHr114e0UzKAOe9AC4uDE6i_BdYJUAtfX881POn7Rl0eiYNU64ZAKzYcIs71PaPMlo3eWvsEj9_mvQ=s0-d)
For hoarders, even if you give them a 120sqm HDB, they will still bang here bang there due to the things they bring home.
�
More important is to develop the idea of buying less things.
�
MRT network will double or more over the next 15 years to cope. More rail of course more breakdowns by proportion.
�
Car prices are likely to rise significantly but moderated by the efforts to encourage cycling and public transport. The costs are going to be a deterrent for retirees surely. Can rent car occasionally if need to drive.
�
With a larger population, our domestic demand then will give us some buffer to play with in terms of economics and demographics planning. I do hope much of the growth comes from kids who grow up in Singapore, either born here or brought here when they are very young.
�
�
�
That's the way to go by squeezing more people. One day, it could be like Hong Kong. Everywhere is people. we need more "BHBT"
�
Aleast I got a place in Australia for future get away with all the over-crowding problems.��
�
http://sbr.com.sg/re...nd-drives-saleshttp://www.straitsti...-units-in-april
Top five best-selling projects in April
May 17, 2016
There were two new launches in April - the 305-unit Sturdee Residences and The Asana, which has 48 apartments.
There are now fewer unsold units in the market, thanks to this steady rate of demand soaking up developers' inventory and the reduction in Government Land Sales since 2014, said Mr Alan Cheong, Savills Singapore research head.
The stock of unsold private homes has fallen from 20,433 in April 2015 to 16,718 in April this year, he noted.
Old project launches take the spotlight in April as pent-up demand drives sales
May 17, 2016
Sales from previously-launched developments jumped 48.1%.
Fence-sitting home buyers are apparently tired of waiting for home prices to slide. Latest statistics show that new home transactions dipped by 11.6% month-on-month in April, reversing the sales surge seen in March.
However, analysts argue that this is not bad news�although the headline figure slipped, sales of previously-launched projects stayed robust during the month, highlighting the pent-up demand in the market.
For instance, UOL's Botanique at Bartley was the second bestselling project in April, with 52 units sold at a median price of $1,297 psf. The Poiz Residences, first launched in November last year, came in third with 42 units sold, followed by Kingsford Hillview Peak and Cairnhill Nine which sold 39 and 33 units, respectively.
"Discounting sales from new launches, developers sold 619 units in April 2016 and 418 units in the corresponding month in 2015, representing an increase of 48.1%," OrangeTee Research noted in a report.
The report added that buyer demand appeared more evenly spread out in 2016, with the top 15 projects selling 18 or more units each in April.
�This could imply a slight improvement in sentiments and a spill over of pent-up demand into the market. With cooling measures unlikely to be lifted anytime soon, some buyers are experiencing �waiting fatigue� and have decided to enter the market,� OrangeTee Research said
T2 ... sell your CCK HDB ... sure huat ah!
https://sg.finance.y...-160000584.html
Attached Thumbnails
Edited by Wt_know, 18 May 2016 - 11:01 AM.
Another reason why it is advantageous to proceed in a low interest environment is this.
�
Assuming one is aiming for a 2mil property with 1.6mil loan over 20 years, and assuming�prices do drop further by 5% over 5 years, with corresponding interest rates jumping to 3.5% in 5 years, doubling from the current interest rate of 1.8%.
�
If the mortgage kicks off today at 1.8% (assuming fixed over 5 years - this is one big assumption), in 5 years' time, you would have paid around 130K in interests, with the remaining mortgage at 1.25mil.
�
If let's say for the property with the same attribute, one waits 5 years and the price drops by 5%, loan kicks off at 3.5% in 2021, after servicing for 5 years (assuming fixed at 3.5%), you would have paid some 242K in interests, with the remaining mortgage at 1.23mil.�
�
You will need the price to drop over 10% after 5 years in order for it to make a bit more sense to buy in high interest environment. And you will be deprived of either a place to stay or to rent out for 5 years.
�
Again caveat emptor.
�
�
Edited by Showster, 18 May 2016 - 11:17 AM.
what about full cash? ask on behalf of someone ...
Edited by Wt_know, 18 May 2016 - 12:52 PM.
buy at high price as long as low interest !!! huat ah!
what about full cash? ask on behalf of someone ...
Price already stagnated for a few years since 2013...
Full cash anytime is a good and bad time. When interest high they lose on interest so don't buy , when interest low they feel price is high so don't buy.
100% buyers market at present
Dont need to be an expert, economist, or analyst to know
Whats happening on the Ground�is more important
�
Right now, less likely to encounter atas sellers or agents,�that is�they ignore you even when u think u have made a decent offer.
�
Right now, U rarely get comments that "if u cannot offer this XXXpsf, no point coming down to view"�
�
Right now, agents will tell you, "just make an offer, any offer will be considered" bec some of the units dont even get a single offer after months in the market. believe it or not, Even a derisory offer will have people happy
�
As for the rental market....
�
Right now,�the question�is not, er sir, how much did u manage to rent out?
Its not about rental amount
Its more about whether�your�unit actually gets rented out or not
Thats already a big achievement
�
�
�
Buyers market
Not i say one.
Propnex ismail say one
�
Shunfu Ville set to heat up collective sale market
May 19, 2016
The collective sale committee earlier this month unanimously voted to accept a letter of intent from the interested purchaser, which is understood to be Qingjian Realty.
The 358-unit project was first put on sale in September with an asking price of at least $688 million or $791 per sq ft (psf) per plot ratio. The tender closed last October with no formal bids but two letters of interest. It was relaunched for tender at the same price in late January.
The last collective sales of this scale were of the former Farrer Court for about $1.34 billion and former Leedon Heights for $835 million, both in 2007.
Shunfu Ville, built in the late 1980s by the former Housing and Urban Development Company (HUDC) and privatised in 2013, sits on a 408,927 sq ft site with about 70 years left on its lease and a plot ratio of 2.8.
The site can yield about 1,100 units with an average size of 1,000 sq ft, while break-even cost could be about $1,250 psf, with new units fetching $1,400 to $1,500 psf, marketing agency JLL said.
Qingjian's bid is a sign of returning interest in en bloc opportunities owing to limited land banks on offer here, especially as the Government has cut back on its land sales programme, said Ms Alice Tan, Knight Frank's research head.
"Property cooling measures and the Additional Buyer's Stamp Duty on developers if they cannot complete and sell all units in five years have meant that the collective sales market has been very quiet. Developers are not willing to take up more risks especially for larger investment deals of above $500 million."
Yet, despite the prevailing slow market, some developers seem to be more bullish and confident of Singapore's property market in the longer term, she added.
Some 358 units of families (some multigenerational), each with average $1.9m sales proceed will enter the market if this really takes off. Most of them should have cleared their loans (since this was built in the 80s).�
�
More interesting to watch will be how the other developers may respond to this.
�
�
http://www.straitsti...ive-sale-market
Shunfu Ville set to heat up collective sale market
May 19, 2016
The collective sale committee earlier this month unanimously voted to accept a letter of intent from the interested purchaser, which is understood to be Qingjian Realty.
The 358-unit project was first put on sale in September with an asking price of at least $688 million or $791 per sq ft (psf) per plot ratio. The tender closed last October with no formal bids but two letters of interest. It was relaunched for tender at the same price in late January.
The last collective sales of this scale were of the former Farrer Court for about $1.34 billion and former Leedon Heights for $835 million, both in 2007.
Shunfu Ville, built in the late 1980s by the former Housing and Urban Development Company (HUDC) and privatised in 2013, sits on a 408,927 sq ft site with about 70 years left on its lease and a plot ratio of 2.8.
The site can yield about 1,100 units with an average size of 1,000 sq ft, while break-even cost could be about $1,250 psf, with new units fetching $1,400 to $1,500 psf, marketing agency JLL said.
Qingjian's bid is a sign of returning interest in en bloc opportunities owing to limited land banks on offer here, especially as the Government has cut back on its land sales programme, said Ms Alice Tan, Knight Frank's research head.
"Property cooling measures and the Additional Buyer's Stamp Duty on developers if they cannot complete and sell all units in five years have meant that the collective sales market has been very quiet. Developers are not willing to take up more risks especially for larger investment deals of above $500 million."
Yet, despite the prevailing slow market, some developers seem to be more bullish and confident of Singapore's property market in the longer term, she added.
�
Some 358 units of families (some multigenerational), each with average $1.9m sales proceed will enter the market if this really takes off. Most of them should have cleared their loans (since this was built in the 80s).�
�
More interesting to watch will be how the other developers may respond to this.
�
i think they will be buying 2 units each lah�
�
�
As for the rental market....
�
Right now,�the question�is not, er sir, how much did u manage to rent out?
Its not about rental amount
Its more about whether�your�unit actually gets rented out or not
Thats already a big achievement
�
Not really lah. All depends on your unit attributes. Good view, high floor, quiet facing etc will always be in demand. I don't have trouble renting out mine. What is true is number of enquiries have gone down, which is due to lesser foreigners coming.
Edited by east41st, 19 May 2016 - 09:54 AM.
That's where the "multigenerational" comes in.
�
I think some may buy 3 units side by side, or tri-key or whatever.
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Parents 1 unit, son plus wife 1 unit, daughter and son-in-law 1 unit.
�
A lot of room to navigate.
�
i think they will be buying 2 units each lah�
�
That's where the "multigenerational" comes in.
�
I think some may buy 3 units side by side, or tri-key or whatever.
�
Parents 1 unit, son plus wife 1 unit, daughter and son-in-law 1 unit.
�
A lot of room to navigate.
�
well, i sure hope they enbloc, i am actually quite surprised that QJ is prepared to buy such a large site on its own.
�
my friend has been hoping for enbloc the longest time, so he can take the money and retire.
http://www.straitsti...ive-sale-market
Shunfu Ville set to heat up collective sale market
May 19, 2016
The collective sale committee earlier this month unanimously voted to accept a letter of intent from the interested purchaser, which is understood to beQingjian Realty.
�
�
garmen priest investigate where this PRC coy gets its $ from
Edited by Duckduck, 19 May 2016 - 10:16 AM.
Is it his primary home?
�
My friend was living with his parents-in-law and sister-in-law in such a place. I think they will be looking for alternative place to stay.
�
well, i sure hope they enbloc, i am actually quite surprised that QJ is prepared to buy such a large site on its own.
�
my friend has been hoping for enbloc the longest time, so he can take the money and retire.
�
https://en.wikipedia...Qingjian_realty
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http://www.btinvest....singapore-soil/
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It's not hard to imagine if you read this as well:
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http://www.straitsti...property-market
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Singapore is too small and too connected to be unaffected by and isolated from global markets. It's a matter of time when the price fall due to taxes meets international benchmarks for global prices.
�
garmen priest investigate where this PRC coy gets its $ from
�
Another Tale of 2 developments
�
Tonight, I briefly introduce to you�two very expensive but iconic�developments,�by M+S, a�60/40% joint venture between Malaysia's Khazanah Nasional Berhad and Singapore's Temasek Holdings.
�
Duo Residences, is a part of a $4 billion integrated development situated at Ophir-Rochor area. Marina One Residences,�a part of a�$7 billion�integrated development is situated at Marina South area).� Both�developments sit on prime land.�In my earlier post, I mentioned about the success sell-out of�Duo�Residences.��Now compare this to Marina One Residences.
�
Marina One Residences comprises of�1,042 units, of which 401 units were launched and 367 were sold, representing a 91.5% sold record.�� Again (like Duo Residences), most of the transactions took place within a very short window period, in Oct to Nov 2014.� The transacted prices for Marina One Residences�are even higher than Duo Residences, at an average of $2,332 psf, given� that the development is right in the heart of downtown area, re-defining the Singapore's city skyline.
�
Both land sites of these two developments�are 99-year leasehold starting from 2011.�Now what happens when the land tenure runs out a century later,�does the land go back�to Singapore government, or to Malaysia's?� Your guess is as good as mine.
�
Goes back to SIN after lease expire. 99 yr lease land FOC to Msia, joint developers SIN-MAL to built the condo. Traded for TgPg railway. They wanted a plot of land near Istena, but gov 'cannot' find one, so settle for these 2 super prime, super nice plots, nice like Badawi and Jib; with Mad, he would rather leave this rail there to rot, just to irritate Sin.
garmen priest investigate where this PRC coy gets its $ from
�
what does it matter? Need to stimulate economy ok�
Is it his primary home?
�
My friend was living with his parents-in-law and sister-in-law in such a place. I think they will be looking for alternative place to stay.
�
i think my friend's plan was to buy a smaller resale flat, maybe 4rm or 3rm in the bishan area and keep the rest of the proceeds for retirement (he is already of retirement age but still working on part time basis for public sector)
Heh if govt was so concerned half the funds parked in sgp would be suspectgarmen priest investigate where this PRC coy gets its $ from
Would think that statistics on unsold and new launches while useful indicators cannot fully capture the state of property market, and hence it is difficult to predict at this point whether it has turned the corner.
�
This is because, the current property market is not in his "natural" state.
It is artificiailly controlled by the 8 CMs.�
Sudden removal of any of the CMs would change the dynamics
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The so called "pent up" demand is also artificial bec of the CMs.�
The real pent up demand cannot be accurately determined with the CMs still on
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The last, of course are external factors, the economy and interest rates
�
Despite the gloom painted by many in the past year, the market has been surprisingly resilient.
Have we seen the worst?�
�
Its anyone's guess�in this�"artificial" market�modulated by voluntary measures and potential headwinds which have�not fully materialised yet.�
�
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Today, let's take a snapshot of the pulse of the property market.
�
�
Here, we read the news (dtd 1 Apr 2016)�of a forecast of two more years of downturn for the property market by UBS analyst Wen-Ching Lee.
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1) http://sbr.com.sg/re...r-two-years-ubs
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About a month later, we read the news (dtd 6 May 2016) that there is an uptick in the Core Central Region (CCR) private property price index.
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2) http://sbr.com.sg/re...pected-recovery
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Two seemingly conflicting reports.� What is the truth, and what is really happening on the ground?
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First, we examine the statistics (presented in a table form)�from the URA website, which reflects the facts as they are:
Negative % change over the previous quarter is highlighted in Yellow, while positive % change over the previous quarter is highlighted in Blue.
�
From the table, we can see that % change over the previous quarter shows that�private property price index (all residential)�went south from�3rd quarter of 2013 onwards, which should not surprise our bros in this thread, as it happened after the most punitive cooling measure was introduced on 28 Jun 2013 - Total Debt Servicing Ratio (TDSR) framework for all property loans.
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Fact 1: What is interesting is that the decline for non-landed properties in CCR started 2 quarters before that - in 1st Qtr 2013.�
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Fast forward to 1 Qtr 2016.� We see that the % change over the previous quarter for the non-landed properties in CCR is blue now, indicating an uptick.� This bears out what is stated� in the 2) news.
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Fact 2: The non-landed properties in CCR has started to rise in prices.
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The rest of the % change over the previous quarter for all residential, landed property, and non-land property (RCR and OCR) are still negative.� This indicates that the broader market is still in decline.
�
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So what do we make of all this?
�
If I may make an analogy using the stock market, the properties in CCR are the blue chips in the stock market.� They are the first to do down in a stock market decline (Fact 1), and conversely, are also the first to pick up in a stock market upturn (Fact 2).� This is exactly what is happening to our local property market.� The blue chips' price movement is a leading indicator of the overall stock market's movement 1 to 2 quarters later.
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Does this mean that we can conclusively say that the property market is starting to turn around?�
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Unfortunately,�we have an effect called the dead-cat bounce in the stock market.� Essentially what it means is that the�stock market appears to revive in the short term, only to enter into a second phase of decline.� Is the property market having a false start?
�
�
Or has the ground turned sweeter?
CCR. We know for a fact that the recent sales for OUE Twin Peaks and the Cairnhill Nine have been very encouraging, to say the least.� It indicates that there is a pent-up demand, and units will start moving when the location, prices (and conditions) are right.
�
RCR.� Sturdee Residences is in District 8, and if its recent success in sales�(achieving an average of $1,608 psf) can be used as an�indication for the demand of the properties in the OCR, then the next quarterly release�of the private property�index�should reflect�an indication of a turn-around as well.
�
OCR.� Stars of Kovan.� This development, to be priced between an average of $1,550 to $1,600, caused a stir ( or should I say an uproar?) from some�bros here, primarily because it is priced well above the completed neighbouring developments re-selling at an average of $1,100 psf, and its average price�is even higher than the next door freehold under construction development, The Tembusu, selling at an average of $1,492 psf.�
�
One sure way to filter out all the noises (possibly giving false indications) is to take a look at the offer sale prices of existing property units that are still unsold.� Are developers revising their prices upwards, holding them steady or dropping them?� We call this "SHOW HAND" time.
�
So far, it has been the�last two.�
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Would think that statistics on unsold and new launches while useful indicators cannot fully capture the state of property market, and hence it is difficult to predict at this point whether it has turned the corner.
�
This is because, the current property market is not in his "natural" state.
�
a market is determined by a ton of factors, so theres no natural or unnatural IMO.
�
Wld u consider opening the population floodgates from 2004-2010 natural or unnatural?
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D current market is what it is, a dead n stale POS which probably wont go anywhere as long as p8p remains in power. I wont go into detail how this will affect overall economy as our current GDP growth rate is self explanatory
Edited by Duckduck, 19 May 2016 - 10:19 PM.
We are listed as one of the highest public debt country in the world. There is a danger of trigger down effects on our currency in longer term. Hence, this may affect property value and increase of repayment of interest. So far rating agencies still put us with high hopes. To me, it is something to concern about for longer term.�
�
Public debt as percentage of GDP: 97.77%
�
�
Do you know what Singapore's public debt is made up of?
We are listed as one of the highest public debt country in the world. There is a danger of trigger down effects on our currency in longer term. Hence, this may affect property value and increase of repayment of interest. So far rating agencies still put us with high hopes. To me, it is something to concern about for longer term.
Public debt as percentage of GDP: 97.77%
http://www.msn.com/e...gnoutmd#image=2
Don't talk cock lah. See the words debt+public only assume negative.
Our debt is not borrowed money to finance govt expenditure...
Simi trigger down, simi increase repayment of interest...ksmlj?
Fully agree that there are many factors that can affect ppty market
The word "artificial" was meant to highlight the point that local market is heavily suppressed by 8 cooling measures and very different from the more "natural" supply demand, affordablity factors�etc
Its "artificial" bec these measures are voluntarily controlled, can be reversed overnight that can impact the market almost immediately and can throw any predictions of prices out of the window
These "artificial" measures interfer with property cycles that make any analyses difficult
Maybe "artificial" is not the best word
For argument sake, if these measures are known to be�permanent,, then "natural" supply demand and other factors will run their course
�
a market is determined by a ton of factors, so theres no natural or unnatural IMO.
�
Wld u consider opening the population floodgates from 2004-2010 natural or unnatural?
�
D current market is what it is, a dead n stale POS which probably wont go anywhere as long as p8p remains in power. I wont go into detail how this will affect overall economy as our current GDP growth rate is self explanatory
�
a market is determined by a ton of factors, so theres no natural or unnatural IMO.
Wld u consider opening the population floodgates from 2004-2010 natural or unnatural?
D current market is what it is, a dead n stale POS which probably wont go anywhere as long as p8p remains in power. I wont go into detail how this will affect overall economy as our current GDP growth rate is self explanatory
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