mycarforum: Private property prices... Up or Down? part 41

Your sharing is very good.
Reading your views, think u are a seasoned ppty investor
Your golden rolex carries weight

Actually the views from others in this thread are also very enlightening and greatly appreciated by the silent majority here

In the past, used to follow views and experts in papers and mass media and took them as gospel truth

But after a while, realised that they were mostly not so accurate and views were inevitably biased depending on hidden conflict of interest

Its like the coe thread, those who have bought will find reasons to argue why prices should go up and those waiting for cars arguing why prices should go down

In forums, divergent views are always good

Gives a more balanced perspective

We are all in the same small boat called spore, good to huat together.

Yes I do learn from some of the sharing here, even from the trolls.

But I do not believe That anyone can be a mr know it all cos there is no such thing. And even in a forum where your identity is anonymous, readers will appreciate some humility that one can be wrong and not keep bashing for all the wrong reasons. Even bros here like mercs who diligently post articles with arguments from both sides also gets bashed for talking up the mkt. what's up with that?

After being in real estate investment industry for over 10 yrs, I have learnt that real estate is not so straight forward. Every cycle is different and there are always interesting lessons to draw from each cycle.

Dont bother to explain lah, J22
Even you talk till the cows come home, they wont understand.
Later they will say that you really own a farm and the cows really come home.

What?! You mean J22 really does not stay on the farm???

But he's always like waiting for the cows to come home leh.

Damn it. I kenna Bluff by Internet again.

What?! You mean J22 really does not stay on the farm???

But he's always like waiting for the cows to come home leh.

Damn it. I kenna Bluff by Internet again.

Old Mcdonald has a farm Eee Yeah Eee Yeah Oh

this guy i know, he was a CFO and liked to imagine he knows a lot about real estate (he's a "seasoned" property investor, whatever that means). Always talked a lot of cock to his colleagues in investment, saying to the effect 'why u all so goondu? buy high sell low?:" and all his other pearls of wisdom blah blah

�

one day he accepted a job as CEO of a reit. he told me only now he realized how bloody difficult the business is. Don't even talk about asset management of the property. Even buying and selling also sibei tough. Had to incur expensive lessons. naturally he is now more humble and talk less cock�

�

Who? Chia Nam Toon is it?� :a-fun:

Who? Chia Nam Toon is it?�

�

don't laugh at nam toon lah, he is a very intelligent man

don't laugh at nam toon lah, he is a very intelligent man

�

I know you secretly call him Nam Toot� :a-fun:

I think the Govt (especially in a small country like SG) has much more control over it than we would like to admit.

�

We were two-three years short of a boom, thankfully. Or we would be in HK / China's shoes now.

�

Removal of CMs may be deferred�or never implemented due to reasons beyond our knowledge as well. We can only judge and conclude a few months or years later some of the basic intentions.�Recently in April, I believe that transfers between couples for avoidance of ABSD has been stopped by the HDB. Other valid reasons for transfer still allowed.�As a result,�many of those who have saved up for years for the move have switched their position to selling of their HDBs.

�

I believe we will see some selling pressures for HDBs that have reached MOP to pick up the private properties. Selling also allows them to amass more funds for the switch than purely saving to buy additional properties. For some of the couples / families, its the only way forward that they can afford two or more private properties.

�

We can review in a few months if my hunch is correct.

�

definitely the govt has strong control on the market. But they will always play it down otherwise their mistakes will be glaring

�

how to not have control? HDB BTO 100% controlled by them. HDB resale also partially controlled as they make all the rules and BTO prices set the floor

�

private condo - 90% of land sales from govt

�

There are a lot of sellers for HDB, however there are a lot of buyers as well. Hence HDB resale prices have surprisingly stabilized already.. havent even dropped much yet.

I know you secretly call him Nam Toot�

�

no lah, i call him car toon lah

Not yet bro. The hidden HDB measure was just confirmed in April. After that, surprise easing by MAS.

Basically no time for HDB owners to react if they had not done so already.

If HDB activities pick up, then game on. Remember we have had huge BTO records and HDBs built since the shortfall period.

definitely the govt has strong control on the market. But they will always play it down otherwise their mistakes will be glaring

how to not have control? HDB BTO 100% controlled by them. HDB resale also partially controlled as they make all the rules and BTO prices set the floor

private condo - 90% of land sales from govt

There are a lot of sellers for HDB, however there are a lot of buyers as well. Hence HDB resale prices have surprisingly stabilized already.. havent even dropped much yet.

Not yet bro. The hidden HDB measure was just confirmed in April. After that, surprise easing by MAS.

Basically no time for HDB owners to react if they had not done so already.

If HDB activities pick up, then game on. Remember we have had huge BTO records and HDBs built since the shortfall period.

�

�

i'm more than happy to see HDB prices fall another 20%� [laugh]

http://www.theedgepr...dos-scotts-road
Renewed interest in older, freehold condos on Scotts Road
April 21, 2016

A unit on the 18th floor of Scotts 28 was sold for $3.13 million ($1,888 psf), according to a caveat lodged with URA Realis on April 1.

Further up on Scotts Road, a unit on the 16th floor of Scotts Highpark was sold for $3.35 million ($1,921 psf), based on a caveat lodged on April 4

In District 10, a 1,130 sq ft unit on the fifth floor of The Arc at Draycott was sold for $2.15 million. This translates to $1,902 psf.

Nearby at the prestigious Ardmore Park, a four-bedroom, 3,520 sq ft unit on the eighth floor of Juniper at Ardmore was sold for $7.28 million. The sale price translates to an average of $2,068 psf.

�I think the strong performance at Cairnhill Nine has revived the attention of investors looking for good-value freehold condos in the prime districts, particularly Districts 9 and 10,�

�They feel prices are bottoming after declining for nine quarters and that it�s a good time to cherry-pick.�

Edited by Mercs, 21 April 2016 - 09:40 PM.

http://www.theedgepr...within-two-days
JUST SOLD: Two GCBs sold within two days
April 21, 2016

A 15,070 sq ft Good Class Bungalow (GCB) at Fifth Avenue was sold for $24.50 million, or $1,626 psf on March 29, 2016.

On March 30, another 16,598 sq ft GCB at Swettenham Close changed hands for $22.48 million, $1,355 psf.

A total of nine GCBs were transacted in 1Q2016, up from four in the same period last year. Total transaction value doubled from $95 million in 1Q2015 to $209 million 1Q2016.

http://www.propertyg...tension-charges
Developer hit with S$2.7mil in extension charges
April 21, 2016

CapitaLand forked out S$2.7 million in extension charges for the 127 unsold units in The Interlace. This works out to S$21,000 per unit or S$7 psf, reported TODAYonline.

Originally, the remaining flats at the 1,040-unit condominium on Depot Road should have been disposed by 13 March, but since paying the charges, CapitaLand�s deadline to sell the leftover properties there has been extended by another six months.

In its latest earnings report, CapitaLand revealed that it has found buyers for 89 percent of the units it has launched so far, adding that the 55-unit The Nassim at Nassim Hill and the 109-unit Victoria Park Villas in Victoria Park Road are set to be unveiled in H1 2016.

Its Cairnhill Nine development also posted healthy sales, with 193 out of the 268 units changing hands as of last Thursday (14 April).

thank you capitaland ... huat ah!

next is CDL? will kwek cry papa cry mama in the news? [sly] [laugh]

Edited by Wt_know, 21 April 2016 - 09:27 PM.

http://www.propertyg...tension-charges
Developer hit with S$2.7mil in extension charges
April 21, 2016

CapitaLand forked out S$2.7 million in extension charges for the 127 unsold units in The Interlace. This works out to S$21,000 per unit or S$7 psf, reported TODAYonline.

Originally, the remaining flats at the 1,040-unit condominium on Depot Road should have been disposed by 13 March, but since paying the charges, CapitaLand�s deadline to sell the leftover properties there has been extended by another six months.

In its latest earnings report, CapitaLand revealed that it has found buyers for 89 percent of the units it has launched so far, adding that the 55-unit The Nassim at Nassim Hill and the 109-unit Victoria Park Villas in Victoria Park Road are set to be unveiled in H1 2016.

Its Cairnhill Nine development also posted healthy sales, with 193 out of the 268 units changing hands as of last Thursday (14 April).

�

Paying $2.7M is a wise decision rather than lelong sales. At least they keep thousand of owners who bought earlier happy.

don't laugh at nam toon lah, he is a very intelligent man

???????

http://www.straitsti...es-354-to-2183m
CapitaLand's net profit for Q1 rises 35.4% to $218.3m
APR 21, 2016

Yup, paying $2.7M, "sup sup water" for CL, sales for Interlace still moving, let's see if can clear (127units) stock with the 6 months extension?

"revenue started to be recognised for Cairnhill Nine and by higher sales for The Interlace, along with rental income from CapitaGreen"

�

Assuming that CL is not able to sell off any more�units, the total payable QC extension charge is $5.4M (in the 1st year i.e. 2 years after TOP), which will be doubled to $10.8M (in the 2nd year), and then tripled to $16.2M (in the 3rd year).� In reality, CL will continue to just pay (for the 3 years, pro-rated to the proportion of�unsold units left) to extend the deadline, as the number of unsold units becomes smaller.

�

However,�if CL still cannot sell off all its units (by this time 5th year after TOP), there is a forfeit of their banker's guarantee of 10% of the land purchase price.� This last penalty, CL cannot afford to ignore by just absorbing it, as the amount is too big to pay.� The land was bought en-bloc (formerly Gillman Heights) at $548M in Feb 2007.

CapitaLand forked out S$2.7 million in extension charges for the 127 unsold units in The Interlace. This works out to S$21,000 per unit or S$7 psf, reported TODAYonline.

The figures translate to an average area of 3,000 plus sq ft per unit.

Looks like the 3 and 4 beds units make up most of the unsold inventory

Assuming that CL is not able to sell off any more units, the total payable QC extension charge is $5.4M (in the 1st year i.e. 2 years after TOP), which will be doubled to $10.8M (in the 2nd year), and then tripled to $16.2M (in the 3rd year). In reality, CL will continue to just pay (for the 3 years, pro-rated to the proportion of unsold units left) to extend the deadline, as the number of unsold units becomes smaller.

However, if CL still cannot sell off all its units (by this time 5th year after TOP), there is a forfeit of their banker's guarantee of 10% of the land purchase price. This last penalty, CL cannot afford to ignore by just absorbing it, as the amount is too big to pay. The land was bought en-bloc (formerly Gillman Heights) at $548M in Feb 2007.

Haha bro, let's play "assume!" [laugh]

Assuming CL not able to sell clear stock, just some units along the way, you are talking 3 years to clear balance unsold units?
EC (extension charges) will be lower progressively (pro rated to unsold units), so developer just continue paying.

Assuming the market do not pick up within the next 3 years, CL could still cut prices then, to move units at a faster pace.

Come cruch time(deadline), pay ABSD for unsold units, transfer all to an investment holding company.
That's assuming again, this CM is not removed by then (3 years later)

Developers got many tricks up their sleeves, so doubt the scenario you described ( 10% of the land purchase price) gonna materialise [:)]

The figures translate to an average area of 3,000 plus sq ft per unit.

Looks like the 3 and 4 beds units make up most of the unsold inventory

Yes bro, high quantum units, equates to paying high ABSD.
Not cutting prices, how to move? [sweatdrop]

Haha bro, let's play "assume!"

Assuming CL not able to sell clear stock, just some units along the way, you are talking 3 years to clear balance unsold units?
EC (extension charges) will be lower progressively (pro rated to unsold units), so developer just continue paying.

Assuming the market do not pick up within the next 3 years, CL could still cut prices then, to move units at a faster pace.

Come cruch time(deadline), pay ABSD for unsold units, transfer all to an investment holding company.
That's assuming again, this CM is not removed by then (3 years later)

Developers got many tricks up their sleeves, so doubt the scenario you described ( 10% of the land purchase price) gonna materialise

Yes bro, high quantum units, equates to paying high ABSD.
Not cutting prices, how to move?

�

My sentiments, exactly.��My point to�all the bros is this:�CL�cannot play the waiting game (which it is now playing by paying extension charges for now) indefinitely, as each subsequent penalty becomes too much $$$$.�

�

Sooner or later, CL has to cut�prices further. It has�pared down prices already to move sales for this development, but apparently, not enough to entice buyers for the remaining 127�units.�

�

Mercs, I appreciate your efforts as you continue to post property news to update all the bros here.�Continue the good work!

Your sharing is very good.
Reading your views, think u are a seasoned ppty investor
Your golden rolex carries weight

Actually the views from others in this thread are also very enlightening and greatly appreciated by the silent majority here

In the past, used to follow views and experts in papers and mass media and took them as gospel truth

But after a while, realised that they were mostly not so accurate and views were inevitably biased depending on hidden conflict of interest

Its like the coe thread, those who have bought will find reasons to argue why prices should go up and those waiting for cars arguing why prices should go down

In forums, divergent views are always good

Gives a more balanced perspective

We are all in the same small boat called spore, good to huat together.

Hi dude, i not seasoned property investor.
I not qualified lah. But just being more truthful.

Hi dude, i not seasoned property investor.
I not qualified lah. But just being more truthful.

�

calla spade a spade, and that is what it is. �

�

In all honesty, there is much vision and wisdom in your words over the years that you have been here and i give you credit for tht. �

�

Thank you [thumbsup]

calla spade a spade, and that is what it is.

In all honesty, there is much vision and wisdom in your words over the years that you have been here and i give you credit for tht.

Thank you

Thank you too.

http://www.straitsti...es-354-to-2183m
CapitaLand's net profit for Q1 rises 35.4% to $218.3m
APR 21, 2016

Yup, paying $2.7M, "sup sup water" for CL, sales for Interlace still moving, let's see if can clear (127units) stock with the 6 months extension?

"revenue started to be recognised for Cairnhill Nine and by higher sales for The Interlace, along with rental income from CapitaGreen"

Fact is if you approach CL before the extension fee is paid and asked for equivalent discount, they will sell it to you. But there is obviously no takers.

Fact is they need to cut price to sell and they will have to do it sooner or later, unless the CM are removed.

Fact is if you approach CL before the extension fee is paid and asked for equivalent discount, they will sell it to you. But there is obviously no takers.

Fact is they need to cut price to sell and they will have to do it sooner or later, unless the CM are removed.

Those units should fetch a cool 4 to 5 million each. That's a lot to pay for a mass market condo, huge development with no exclusivity, shitty location and ugly design (looks like the container port)

Porker U have to shold the cert with a piece of paper with the word "Porker" written on it to count

�

ya lor....take us for fools

�

ya lor....take us for fools

�

�

:a-fun:

Attached Thumbnails

�

if i can give 60 praises in one posting, this would be it!

�

� you win this round....... :a-whiteflag:

�

i admit i didn't take O levels and A levels...bo tak cheh wan

�

so got no cert to show� [blush]

�

but that doesn't mean you passed P1 maths

�

no wonder the maths freak Turboflat4 so INTO you

�

� [laugh] � [laugh]

Edited by Enye, 22 April 2016 - 04:11 PM.

My contribution

Attached Thumbnails

dunno why of late analysts reports keep talking about easing/removal of cooling measures ....

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me thinks it could be the new normal ... just my humble 2c ...�

dunno why of late analysts reports keep talking about easing/removal of cooling measures ....

me thinks it could be the new normal ... just my humble 2c ...

I am sure there have been intense lobbying behind the scene initially, then you start to call your friends, your lawyers, your media partners, your mother in laws, anyone with some influence to help as the deadline nears... So it depends on how strong the govt is in resisting the pressure in preparation of that day whereby liquidity starts to dry up. But real estate business creates jobs, so a crash cannot be good for Singapore, especially our real estate dependent banking system... the fate of the market is now in the hands of our bureacrats, who are more often than not behind the curve.

http://www.businesst...m-drop-in-value

I am sure there have been intense lobbying behind the scene initially, then you start to call your friends, your lawyers, your media partners, your mother in laws, anyone with some influence to help as the deadline nears... So it depends on how strong the govt is in resisting the pressure in preparation of that day whereby liquidity starts to dry up. But real estate business creates jobs, so a crash cannot be good for Singapore, especially our real estate dependent banking system... the fate of the market is now in the hands of our bureacrats, who are more often than not behind the curve.

http://www.businesst...m-drop-in-value

image.png

The Govt is doing it right.

There is absolutely no need to remove any cooling measure in such a situation.
Developers only have to reduce prices to move inventory and things will fall into place.
Instead of doing that, dvelopers want Govt to be a fool so that they can continue to make obscene profits yet again? In every business, there will be certain casualties. Cant take the hit? Dont do the business.

What i dont do in business is who blinks first.
I rather play, who sells first especially in a downturn.

there are many other smaller businesses which may really need a relaxation in regulations just to stay afloat. How about them screaming in all media, like a classroom of children for Govt to do something?

Maybe the Casinos can also request government to remove some rules so that its easier for more people to go and gamble. The Casinos are facing a rut now and anyway players have a fair chance to win too, right? Hah.....

i remember not so long ago, all act cool.
Damn zai one. Eh, why scared? Wussies? Or blood sucking greedy?
Either ways, lame.....

Almost like asking for a bailout....chey...

Enjoy the weekend folks.....woooooohoooo.

Edited by Throttle2, 22 April 2016 - 11:19 PM.

I am sure there have been intense lobbying behind the scene

�

All friend friend one� :ph34r:

Fact is if you approach CL before the extension fee is paid and asked for equivalent discount, they will sell it to you. But there is obviously no takers.

Fact is they need to cut price to sell and they will have to do it sooner or later, unless the CM are removed.

Yes bro, thanks for sharing your views [thumbsup]

Me think so too, which I mention earlier [:)]

"Yes bro, high quantum units, equates to paying high ABSD.
Not cutting prices, how to move? [sweatdrop]

So it depends on how strong the govt is in resisting the pressure in preparation of that day whereby liquidity starts to dry up. But real estate business creates jobs, so a crash cannot be good for Singapore, especially our real estate dependent banking system... the fate of the market is now in the hands of our bureacrats, who are more often than not behind the curve.

Yup, main man standing firm [laugh]

http://www.theedgepr...s-lawrence-wong
Too early to review cooling measures, says Lawrence Wong
April 22, 2016

There will be ups and downs in the property market, and the government is watching the property market closely,� says Lawrence Wong, Minister for National Development. �We will be prepared to respond when needed.� Wong was speaking at ERA�s career advancement day event on April 21.

Wong says he knows that the industry is �fixated� over the measures, but the property market is not dependent on the cooling measures alone. What is more important is to ensure that Singapore continues to grow and for the economy to thrive.

http://www.propertyg...d-of-the-tunnel
Executive condominiums: Light at the end of the tunnel?
April 22, 2016

Attached Thumbnails

Mercs, I appreciate your efforts as you continue to post property news to update all the bros here. Continue the good work!

Thanks bro, likewise, enjoy reading your "New bargains to be had?" [laugh]

This article may be of some interest to you [grin]

http://www.businesst...e-gramercy-park
CDL heading to Indonesia to promote Gramercy Park
APR 22, 2016

BT understands that CDL is promoting only one of the two towers in the 174-unit project in Grange Road, suggesting that it is still looking to offload the other tower through a bulk sale. The project is subject to extension charges for unsold units under the qualifying certificate (QC) conditions from the second quarter of 2018.

Last weekend, OUE Limited conducted a launch event for OUE Twin Peaks costing over S$100,000 in Kuala Lumpur and offered star-buy units to potential buyers there, with agents reporting positive response.

GuocoLand's Wallich Residence at Tanjong Pagar Centre, for which CBRE and DTZ are the marketing agents, may also be promoted in overseas markets such as Malaysia, Indonesia, China and Hong Kong, BT understands.

Business dealings, proximity to Singapore and hedging against their currencies' depreciation are also reasons why Indonesians and Malaysians are keen to invest in Singapore real estate.

Agents also note that there has been increased interest among Malaysians to invest in Singapore since the ringgit's plunge and ensuing political uncertainties.

The Govt is doing it right.

There is absolutely no need to remove any cooling measure in such a situation.
Developers only have to reduce prices to move inventory and things will fall into place.
Instead of doing that, dvelopers want Govt to be a fool so that they can continue to make obscene profits yet again? In every business, there will be certain casualties. Cant take the hit? Dont do the business.

What i dont do in business is who blinks first.
I rather play, who sells first especially in a downturn.

there are many other smaller businesses which may really need a relaxation in regulations just to stay afloat. How about them screaming in all media, like a classroom of children for Govt to do something?

Maybe the Casinos can also request government to remove some rules so that its easier for more people to go and gamble. The Casinos are facing a rut now and anyway players have a fair chance to win too, right? Hah.....

i remember not so long ago, all act cool.
Damn zai one. Eh, why scared? Wussies? Or blood sucking greedy?
Either ways, lame.....

Almost like asking for a bailout....chey...

Enjoy the weekend folks.....woooooohoooo.

Yeah, collective whinning, also known as lobbying, is a culture of a lot of Singapore companies, but not all, Let's call a spade a spade, they are all freaking whinning and asking for a bailout when they got greedy and keep bidding up land prices even after repeated warnings by the govt. You are right, they are now playing the who blinks first game and I think they will lose. Some developers are out, those are the smart ones.

Anyway, a lot of our companies know how to play the lobbying (read: whinning) game well but do little on innovations and thinking on new business ideas, some are outright rent seekers, it is scary where we are heading. Examples, our 3 telco companies are again whinning on the possible entry of the 4th player but welcome more foreign talents to lower their costs. Our taxi companies, who has been renting out their cab at up to $200 a day and making tons of money year after year are now whinning about Uber and Grab who are eating their breakfast, lunch and dinner. But for so many years, I cannot get a cab during rainy days even if I am willing to pay more.

Ok, to be fair, some are able to compete and think internationally but a lot of our domestic service providers don't really deserve to earn their keep.

Edited by Voodooman, 23 April 2016 - 10:30 AM.

Yup, main man standing firm

http://www.theedgepr...s-lawrence-wong
Too early to review cooling measures, says Lawrence Wong
April 22, 2016

There will be ups and downs in the property market, and the government is watching the property market closely,� says Lawrence Wong, Minister for National Development. �We will be prepared to respond when needed.� Wong was speaking at ERA�s career advancement day event on April 21.

Wong says he knows that the industry is �fixated� over the measures, but the property market is not dependent on the cooling measures alone. What is more important is to ensure that Singapore continues to grow and for the economy to thrive.

We are fixated on rent seeking activities, which cannot be good for the country in the long run. But what do I know.

.. when they got greedy and keep bidding up land prices even after repeated warnings by the govt..

�

The high land price in Singapore is mostly a doing of the government. URA has created a controlled land price scheme with it's reserve price system.

The high land price in Singapore is mostly a doing of the government. URA has created a controlled land price scheme with it's reserve price system.

Sure, its all in the bigger scheme of things but i will always blame the buyer before the seller.

Much of the wealth created in the last 10 years was due to property asset appreciation.

The privates do it via en bloc, HDB does it via pegging BTO prices to resale prices then less discount, the commercial entities via REITS.

Many got wealthy this way. Lots of people here in MCF too. The only problem is much of these actions were sort of manipulated. The bigger problem is not whether who is right or wrong, it is the lack of distinct opportunities for those who got onto the boat late or had no chance to jump in.

I worry for the adults just entering the work force. The choice is either a 500k BTO, 700K BTSS, 1M EC or 1.5M condo..........

How many of them will see even 50% asset appreciation in the next 10 years. Not optimistic.

What's worrying to all including current property owners is not lack of appreciation. The amount they loan, they taxes they pay, the LTV adopted, the risks undertaken, the timing of entry, all who entered during the last few years with oversupply and interest spike on every front page must have been sanguine and practical about their decisions.

Slight depreciation or no appreciation is an excellent outcome for long term property owners.

What is really worrying to all is uncontrolled depreciation of currency leading to hyperinflation. I wrote on this last year and some thought I was spouting rubbish.

Do think about it. What does zero appreciation to our major trading countries' currencies mean actually? What is the strength of the currencies in some of our top trading partners?

Much of the wealth created in the last 10 years was due to property asset appreciation.

The privates do it via en bloc, HDB does it via pegging BTO prices to resale prices then less discount, the commercial entities via REITS.

Many got wealthy this way. Lots of people here in MCF too. The only problem is much of these actions were sort of manipulated. The bigger problem is not whether who is right or wrong, it is the lack of distinct opportunities for those who got onto the boat late or had no chance to jump in.

I worry for the adults just entering the work force. The choice is either a 500k BTO, 700K BTSS, 1M EC or 1.5M condo..........

How many of them will see even 50% asset appreciation in the next 10 years. Not optimistic.

Yes, Most logical response from the Boss

�

Not just "fixated", its the expectation of the govt to bail them out with the slightest hint of trouble.

�

With 20-20 hindsight, so easy to put the blame on others for today's high prices.

�

Dont think any single party is at major fault.

�

The challenge is to�navigate a middle path, a oft heard soft landing, so that there will be no major injuries�to all parties, buyers and developers alike.

�

Definition of overinflated prices is relative, would think a new norm will come in the long term

�

As mentioned, the speculative element and fervour have ben taken out of the market

�

Give the Bull a rest but dont release all the 8 chains�just bec the Bull�is lumbering at the moment.

�

Give them for the Bull to metamorphosise to become everyone's pet [:p]

Yup, main man standing firm

http://www.theedgepr...s-lawrence-wong
Too early to review cooling measures, says Lawrence Wong
April 22, 2016

There will be ups and downs in the property market, and the government is watching the property market closely,� says Lawrence Wong, Minister for National Development. �We will be prepared to respond when needed.� Wong was speaking at ERA�s career advancement day event on April 21.

Wong says he knows that the industry is �fixated� over the measures, but the property market is not dependent on the cooling measures alone. What is more important is to ensure that Singapore continues to grow and for the economy to thrive.

�

http://www.businesst...in-q1-stay-flat
HDB resale prices in Q1 stay flat
APR 23, 2016

HDB resale prices dipped 0.1 per cent on a quarter-on-quarter basis in the first quarter of 2016, in line with earlier flash estimates.

Property consultants continue to believe that the public housing resale market is "at a new equilibrium" and stabilising.

Edited by Mercs, 24 April 2016 - 01:51 AM.

http://www.businesst...all-ura-index-0
Private home prices in muted fall: URA index
APR 23, 2016

This lends credence to the government's decision to hold off on lifting the cooling measures

THE latest government stats show that the official private home price index has eased 9.1 per cent over 10 consecutive quarters since the peak in Q3 2013.

And that peak had come after a 62.2 per cent ascent from the post-global crisis trough in Q2 2009.

Some property industry players may continue debating just how accurately the index captures what is going on in the market, but few deny that there has been a definite return in confidence to the market since March, following the stock market recovery.

This is evidenced from successful launches of projects such as Cairnhill Nine and The Wisteria, which are encouraging more developers to start preparing for launches again.

JLL's analysis of URA data found an uptick in both primary and secondary market sales of private homes in Q1 this year, compared with Q1 last year.

One view in the market is that the government's reiterations - that it is too early to start relaxing the property cooling measures - may have spurred some potential buyers who had been waiting on the sidelines to make a commitment.

While some of the latest URA stats would lend credence to the government's strategy of holding back on lifting the property cooling measures for fear of re-igniting the market, there are other factors to consider. Rolling back the cooling measures at this point may send the wrong signal and prompt people to jump into the property market just when the economy is not doing well, say observers.

This could leave a lot of investors burnt. Moreover, fears of interest rate hikes have lesssened. "With the US Fed taking a dovish approach on interest rates, there is still a lot of liquidity around and the government here probably worries that the property market may reignite," said a seasoned property market watcher.

http://business.asia...eal-estate-woes
Architects also hurting from real estate woes
Apr 21, 2016

THE real estate downturn has filtered down to architecture and engineering services firms, which were hit by surging redundancies last year - and industry players warn that the situation could worsen this year.

It has been the larger architecture firms where rumours of retrenchment are most rife, though no firm has been willing to confirm this.

Last year's official jobs data is telling. Based on the Ministry of Manpower's labour report for 2015, the number of redundancies in the architecture and engineering services segment was 940 last year; the figure was 240 in 2013 and 350 in 2014. (Redundancies are those who are retrenched and those who are released early from their contracts.)

Of the 940 redundancies last year, about seven in 10 were PMETs, that is, professionals, managers, executives and technicians, and about 67 per cent were attributable to a "recession or downturn in the industry".

We are fixated on rent seeking activities, which cannot be good for the country in the long run. But what do I know.

http://www.straitsti...k-lawrence-wong
Lifting curbs 'not key to property sector's outlook': Lawrence Wong
APR 22, 2016

State of local economy, and not whether cooling measures are eased, will determine long-term prospects: Minister [grin]

Mr Wong said property agencies and agents will have to adapt to new trends. He cited the way technology changes and how increasingly savvy consumers are closing property deals without estate agents.

For example, the proportion of "do-it-yourself" buyers or sellers for Housing Board resale flat deals rose from 11 per cent in 2010, to 24 per cent last year.

"I think the trend will continue because of consumer preference and technology," Mr Wong said. This means agents and agencies need to innovate, find new ways to add value and be more customer- centric.

ERA chief executive Jack Chua agrees: "We are looking at our business model and encouraging our agents to use social media to capture a wider audience. We also invest in IT and develop apps and productivity tools."

Mr Chua said the firm sets aside about $1 million to $2 million each year for technology investment. In 2013, ERA spent over $100,000 on an app giving live updates on the sales and home prices for projects it is marketing.

Such innovations and a positive mindset have helped its top 50 agents to hit an average income of $92,000 last month, up 72 per cent from February, Mr Chua added.

Yes, Most logical response from the Boss

Not just "fixated", its the expectation of the govt to bail them out with the slightest hint of trouble.

With 20-20 hindsight, so easy to put the blame on others for today's high prices.

Dont think any single party is at major fault.

The challenge is to navigate a middle path, a oft heard soft landing, so that there will be no major injuries to all parties, buyers and developers alike.

Definition of overinflated prices is relative, would think a new norm will come in the long term

As mentioned, the speculative element and fervour have ben taken out of the market

Give the Bull a rest but dont release all the 8 chains just bec the Bull is lumbering at the moment.

Give them for the Bull to metamorphosise to become everyone's pet

Yes bro, agree that CM should be in place, prevent a bubble, soft landing, not too sure if a prolong one will do any good though.

While it's easy to say, yeah! Hold CM! "punish" those greedy developers and investors!
Flipside is effect will also trickle down to the masses, besides developers, property firms, but also construction, banking, renovation contractors, elect & furniture suppliers, the list goes on. These are non property ppl, common folks.

Job losses, families and livelihood affected, collateral damage? something which I do not wish see happen, maybe that's just me.

So like you said "The challenge is to navigate a middle path, a oft heard soft landing, so that there will be no major injuries to all parties," [thumbsup]

Gotta strike a balance, but hey.. what do I know [:)]

Yes bro, agree that CM should be in place, prevent a bubble, soft landing, not too sure if a prolong one will do any good though.

While it's easy to say, yeah! Hold CM! "punish" those greedy developers and investors!
Flipside is effect will also trickle down to the masses, besides developers, property firms, but also construction, banking, renovation contractors, elect & furniture suppliers, the list goes on. These are non property ppl, common folks.

Job losses, families and livelihood affected, collateral damage? something which I do not wish see happen, maybe that's just me.

So like you said "The challenge is to navigate a middle path, a oft heard soft landing, so that there will be no major injuries to all parties,"
Gotta strike a balance, but hey.. what do I know

�

Agreed... soft landing in properties ...

�

Again, much will depend on the economy in the next few months till end this year ...

If there is a recession, don't need the measures from govt, the external macro environment will dictate the fall in prices ...

�

Hopefully, we don't see a much worse economic ... for it will create more misery to the middle-income and lower income Singaporeans ...

Agreed... soft landing in properties ...

Again, much will depend on the economy in the next few months till end this year ...
If there is a recession, don't need the measures from govt, the external macro environment will dictate the fall in prices ...

Hopefully, we don't see a much worse economic ... for it will create more misery to the middle-income and lower income Singaporeans ...

Dude, soft landing in property since 2013 ..... Continued soft landing for the next 2-3 yrs is the best scenario for now. And as you said, if in a real ground up recession, dont need measures, prices also fall.
People just fail to learn from past mistakes and events.

actually it is not the income category that defines misery during economic downturn.
It is the level of speculative financial commitment that creates misery during economic downturn.

As long as one doesnt bite off more than one can chew. No problem.
Earn big but spend and commit bigger, confirm got problem, matter of time.

Good luck and enjoy Sunday

Edited by Throttle2, 24 April 2016 - 03:45 PM.

Must praise you, results are impressive and handwriting is pretty too [:p]

Much of the wealth created in the last 10 years was due to property asset appreciation.

The privates do it via en bloc, HDB does it via pegging BTO prices to resale prices then less discount, the commercial entities via REITS.

Many got wealthy this way. Lots of people here in MCF too. The only problem is much of these actions were sort of manipulated. The bigger problem is not whether who is right or wrong, it is the lack of distinct opportunities for those who got onto the boat late or had no chance to jump in.

I worry for the adults just entering the work force. The choice is either a 500k BTO, 700K BTSS, 1M EC or 1.5M condo..........

How many of them will see even 50% asset appreciation in the next 10 years. Not optimistic.

The super bull run is over lah, led by China voracious appetite for resources, China will limp along for a few years and thereafter, it is anyone guess. It is a knowledge based economy next and are we prepared for it? Heng I am also a beneficiary of that bull run, didn't make a lot like many MCFers here but happy with what I have. The next generation will need to make their money elsewhere and less from rent seeking.

The super bull run is over lah, led by China voracious appetite for resources, China will limp along for a few years and thereafter, it is anyone guess. It is a knowledge based economy next and are we prepared for it? Heng I am also a beneficiary of that bull run, didn't make a lot like many MCFers here but happy with what I have. The next generation will need to make their money elsewhere and less from rent seeking.

That's true. Many of the better and easier doors are now closed. But as long as one's energy is spent on asking the right questions and following through on the right actions, there are still many opportunities to grasp.

Wish for the best for all.

Agreed... soft landing in properties ...

Again, much will depend on the economy in the next few months till end this year ...
If there is a recession, don't need the measures from govt, the external macro environment will dictate the fall in prices ...

Hopefully, we don't see a much worse economic ... for it will create more misery to the middle-income and lower income Singaporeans ...

Yup, you are good bro [thumbsup]

hope so too [:)]

Like PM Lee said- Don�t fear a severe economic crisis this year, says PM Lee
http://sbr.com.sg/ec...ear-says-pm-lee

Gonna be a roller coaster ride? Hang on tight! [laugh]

GCB news

http://business.asia...e-gcb-market-q1
Captains of industry active in GCB market in Q1
Apr 22, 2016

CAPTAINS of industry in fields ranging from retail, food and manufacturing to education and medicine were active in the Good Class Bungalow market in the first three months of this year.

The Wong family behind handbag and shoe maker Charles & Keith snapped up an old freehold bungalow along Mount Echo Park at the fringe of the Chatsworth Park GCB Area for S$22.25 million or S$1,322 per square foot based on the land area of 16,826 sq ft in January.

The seller is understood to be Fang Zhixiang, the deputy chief executive officer of mainboard-listed palm oil producer First Resources.

Along Fifth Avenue in the Bukit Timah area, David Teo, chairman of listed Super Group - the company behind the ubiquitous 3-in-1 Super Coffee sachets - is buying a house for S$24.5 million or S$1,626 psf on the land area of 15,069.46 sq ft.

The two-storey house, which is being sold with vacant possession, is next to the bungalow where Mr Teo and his family reside. The seller is understood to be cardiologist Michael Lim, for whom this is an investment property. Based on caveats data, the property was previously transacted for S$23.5 million in 2011.

Also divesting an investment property is Mavis Tutorial Centre founder Anthony Ng, who is selling a bungalow in Swettenham Close for S$22.48 million (or S$1,355 psf on the land area of 16,594 sq ft) to an oil trader. On site is a two-storey house with five bedrooms.

The property was previously transacted for S$20 million in 2010, based on caveats data.

BT also reported last month that Zhang Yong, the founder of a popular hotpot chain from China and who is now a Singapore citizen, bought a Gallop Road GCB near the Botanic Gardens for S$27 million or S$1,700 psf; the property on site was rebuilt and completed in 2012.

Developers news

http://www.propertyg...e-to-sell-units
Developers get creative to sell units
April 24, 2016

To entice home buyers amidst the challenging housing market, developers are resorting to new marketing gimmicks, like holding games where everyone wins a prize, organising trips to Singapore, and launching their projects in other countries, reported The Straits Times.

For instance, Kingsford Development held a �Property Tycoon Challenge� for buyers of Kingsford Hillview Peak in Upper Bukit Timah over the weekend.

Meanwhile, Guangzhou-based Country Garden has teamed up with travel agencies to host Singapore tours for Chinese tourists, in the hope they will purchase units in Forest City, a mega project sited on man-made islands near the Tuas Second Link.

In addition, some developers are launching their new projects in emerging economies to woo affluent buyers there.

For instance, City Developments Limited (CDL) held a property showcase in Jakarta over the weekend for its Gramercy Park project, to be followed next weekend in Surabaya, wherein one tower with 87 units is being offered in the range of $2,800 psf.

Resale condo news

http://www.straitsti...lue-is-emerging
Look at resale condos as value is emerging
APR 24, 2016

Price disparity between new and slightly older properties has been growing.

This is because, as prices weaken, it is clear that value is emerging in the resale market.

While official estimates show that prices are down 9.1 per cent from their last peak in the third quarter of 2013, the price drop so far mainly seems to be for resale homes.

The price difference has risen from about 20 per cent in the past to 25 to 35 per cent, according to a study by R'ST Research. It found the gap tends to be on the lower end of this spectrum in the suburbs and higher in the central areas.

"Looking at the resale market today, there may not be many resale properties in certain locations. Vendors could be happy with where they stay; or if they sell, they feel they may not be able to upgrade to a newer property," says Mr Lee Liat Yeang, Rodyk & Davidson real estate partner.

At the same time though, there are people selling, especially investors who may have been renting out their unit, but their tenant could have left for newer properties. These investors may not be losing money, but are simply letting the properties go at today's market price.

But property is a long-term play, and I am confident that an investment in property will pay off eventually.

Private residential a glance [:)]

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Gimmicks gimicks and more gimmicks just to avoid reducing the reported price or shall i say reporting a lower price.

again i am proven correct.
Looking at these charts , it is saying what i hv said.
Only, long after i hv said it. The forum be my witness.

But did i say i am Mr Know it All?
Never. Only certain people who try to put words in my mouth do.

busy weekend... many ECs cannot sell at 700+ psf

�

but helped my friend booked one for 850 psf. Not bad lah, i also agree with him it is a good buy, near MRT, no HDB blocks in sight

�

showroom still so damn crowded like market

�

now next target is gem toa payoh, see whether can really sell out in one day LOL

Gimmicks gimicks and more gimmicks just to avoid reducing the reported price or shall i say reporting a lower price.

again i am proven correct.
Looking at these charts , it is saying what i hv said.
Only, long after i hv said it. The forum be my witness.

But did i say i am Mr Know it All?
Never. Only certain people who try to put words in my mouth do.

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Thứ Bảy, 24 tháng 12, 2016

Private property prices... Up or Down? part 41

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