http://www.businesst...id-from-hoi-hup
Anchorvale Lane EC site fetches 16 bids; top bid from Hoi Hup
Aug 23, 2016
A STATE tender for a 99-year leasehold executive condominium (EC) site along Anchorvale Lane in the Sengkang area has attracted a whopping 16 bids.
The highest bid - from Hoi Hup Realty, which teamed up with Sunway Developments - was S$240.95 million, which works out to slightly over S$355 per square foot per plot ratio (psf ppr).
The second highest bid, S$235 million (or S$346.30 psf ppr) , was from Wee Hur Development. Robert Kuok's Allgreen Properties was the third highest bidder, at S$226.90 million (or S$334.37 psf ppr).
The 2.1-hectare site can generate about 635 homes.
The land parcel is near Tongkang LRT Station.
All the small little players coming up to get a small foothold ...
Haha so many highs, but high class..I not too sure.
So may have the money, but no class...money dun buy class.
End of the day, still just a house...4 walls and a roof.
It's the family warmth and love, that makes it truly a home.
No need atas condo, stay in hdb...just as groovy! I love hdb!
Doggie loves hdbee too!
Doggie loves hdbee too!
�
�
I intend to get a doggie soon ... oops, not you Doggie
�
Maybe a miniature schnauzer :))
Haha bro, not just to gain foothold, developers are hungry for land!All the small little players coming up to get a small foothold ...
And with an agressive bid at 27% higher, says it all. Oversupply?..or demand to exceed supply?
![[sly]](https://lh3.googleusercontent.com/blogger_img_proxy/AEn0k_vZyhM2GN09MrdwwHg7tT-RwslDksKeVw2OZ0Ur1UizJdQKKFaW76Ie95bXSKYSgF9e9yhTtlzNpIS94A1w27pUjowJUsWmz-NeCZjvCht1AlpOd-ltFLSDmM5tz4s1k7BgwNo=s0-d)
The facts are here, one can draw your own conclusion
http://www.businesst...ngry-developers
Sengkang EC site draws land-hungry developers
"Hoi Hup-Sunway leads 16 bids with S$355.07 psf ppr offer, 27% more than price paid for Treasure Crest site"
http://www.straitsti...engkang-ec-site
Highest number of bids for EC land since 2013 signals upbeat outlook
There was a huge turnout for the last executive condominium (EC) site on offer this year, with 16 developers casting bids for an Anchorvale Lane plot that could yield about 630 units.
It was the highest number of bidders for an EC site since the tender for a Yuan Ching Road site, now Lake Life, in July 2013.
"Since so many parties were bidding competitively, their outlook on the EC market would be fairly optimistic, probably expecting a pick-up in demand and improvement in prices when the project is launched in late 2017 or early 2018,"
"The potential bottoming of the private home market would also have a positive effect on the EC market, as stable or recovering prices of private homes would augur well for EC prices as well."
However, given the top bid of $355 psf ppr, the developer would probably have to sell at over $820 psf ppr, above levels at the other projects and "a rather aggressive price"
Attached Thumbnails
Me loves hdbee! Me loves doggie too!Doggie loves hdbee too!
![[laugh]](https://lh3.googleusercontent.com/blogger_img_proxy/AEn0k_tdoI9DZTG9-m4DZGiHx7KOM2Qu5FBR5hY9lKA5Z34-HtbJzlBSJmXpJJ0Kb0NzaMwRrbKcOwHSc-7sDuHAsPlYc59Jtfv6cpLj_CfHKupH3fZLthy29gQebkKRQd_Cnd-fJhyAVQ=s0-d)
You have a good doggie day!
![[thumbsup]](https://lh3.googleusercontent.com/blogger_img_proxy/AEn0k_vchm4CasBQCvWBzYbyQUJ1kB5SfS1PLZfHi8mL0XPPw7uqc_AIPk2Y6RsSKtmjzQW2wJzDkLUe7LMj1gJv3v3nnl1vUVZr9eWbspbhSVRmiy0qpIiEtDSPwlC78oAFppn-j1lIIdtp=s0-d)
Bro, u are an agent too?!
�
Thought new launch property has low commission unless in hard to market large projects like interlace.
�
Sometimes I salivate looking at the very fat commissions for big units, wondering what if I were to be an agent�
�
Have seen many driving big cars, convertibles.�
�
new launch usually start at low comm. For la fiesta, developer up the comm for the last 100 or so units. Price was also comparable or even more attractive than other similar projects. Hence it was easier to swing buyers over to consider la fiesta
�
a simple 3 bedder $1m condo gave better comms than your big units in interlace .. damn shiok!�
Haha bro, not just to gain foothold, developers are hungry for land!
And with an agressive bid at 27% higher, says it all. Oversupply?..or demand to exceed supply?
The facts are here, one can draw your own conclusion
http://www.businesst...ngry-developers
Sengkang EC site draws land-hungry developers
�
�
wow, there were 6 or 7 bidders above $300 psf for EC site in anchorvale (where is that? Sengkang?)
�
In the midst of many unsold EC units?� ![[bounce2]](https://lh3.googleusercontent.com/blogger_img_proxy/AEn0k_vNnKqAWESxrCSLlV5_6wEu3UrjdU6U6CmsCyiyS4HOyMCbilNUJIEMmI17hgBN3gOr8HfhzBXyrWw9aahhwYC0IUpcTA3z1e3aDTd95sG_7l4vKQuXTeToG5BzQvIcdRp0kubksP4=s0-d)
Haha bro, not just to gain foothold, developers are hungry for land!
And with an agressive bid at 27% higher, says it all. Oversupply?..or demand to exceed supply?
The facts are here, one can draw your own conclusion
http://www.businesst...ngry-developers
Sengkang EC site draws land-hungry developers
"Hoi Hup-Sunway leads 16 bids with S$355.07 psf ppr offer, 27% more than price paid for Treasure Crest site"
http://www.straitsti...engkang-ec-site
Highest number of bids for EC land since 2013 signals upbeat outlook
There was a huge turnout for the last executive condominium (EC) site on offer this year, with 16 developers casting bids for an Anchorvale Lane plot that could yield about 630 units.
It was the highest number of bidders for an EC site since the tender for a Yuan Ching Road site, now Lake Life, in July 2013.
"Since so many parties were bidding competitively, their outlook on the EC market would be fairly optimistic, probably expecting a pick-up in demand and improvement in prices when the project is launched in late 2017 or early 2018,"
"The potential bottoming of the private home market would also have a positive effect on the EC market, as stable or recovering prices of private homes would augur well for EC prices as well."
However, given the top bid of $355 psf ppr, the developer would probably have to sell at over $820 psf ppr, above levels at the other projects and "a rather aggressive price"
�
�
The smaller players need to bid aggressively else they will be gone in this dull property period ...
Then try to survive by selling slightly higher to public .. and hope that economy will be better in the next few years to tide them over ...
�
If poor economy persist and the CM continue to be in-placed, some smaller developers will go bust .... then jia lat liao lor ...
Haha bro! How are youwow, there were 6 or 7 bidders above $300 psf for EC site in anchorvale (where is that? Sengkang?)
In the midst of many unsold EC units?
![[:)]](https://lh3.googleusercontent.com/blogger_img_proxy/AEn0k_sU9t7aIZklUJOFwIpVXiiLJTF_cXBdz4Yojz6Xe-WPJ8rE5-QmU0lSJivmp3nKbLp1MXIuRTE_l9dKy3phOCLkQdYebRqiimZZhX6Ch-7-lb2sWmm0HldyxK5oiSlekBVivsF2Xw=s0-d)
The developers....one word...POWER!
By the way, I also keen to know about agent comms for brand new launch (not unsold units)
I was told...only few hundred per unit...think I got smoke!
PM me hor if not convenient to share here
have a good day bro! hearsay property is crashing in 2017 leh ... how ar? bid already can return to ah gong?
�
wow, there were 6 or 7 bidders above $300 psf for EC site in anchorvale (where is that? Sengkang?)
�
In the midst of many unsold EC units?�
�
Edited by Wt_know, 24 August 2016 - 09:43 AM.
Yeah me hope so too..that economy will get better.The smaller players need to bid aggressively else they will be gone in this dull property period ...
Then try to survive by selling slightly higher to public .. and hope that economy will be better in the next few years to tide them over ...
If poor economy persist and the CM continue to be in-placed, some smaller developers will go bust .... then jia lat liao lor ...
Not just for the sake of the property market, do not wish to see blood on the streets.
Hope all get to keep their jobs, earn a living, feed the family, you know what I mean.
Everybody huat ah!
Good day bro :)) And buy cars too hehYeah me hope so too..that economy will get better.
Not just for the sake of the property market, do not wish to see blood on the streets.
Hope all get to keep their jobs, earn a living, feed the family, you know what I mean.
Everybody huat ah!
hearsay property is crashing in 2017 leh ... how ar? bid already can return to ah gong?
�
hearsay property crashing this year lah,.. where got 2017�
hearsay property crashing this year lah,.. where got 2017
Every year is a good crashing year since 2013/2014.
http://www.cnbc.com/...eady-burst.html
similarly, every year is crashing year for COE
do not under-estimate sporean hungry level for car and property ... divine discontent!
�
Every year is a good crashing year since 2013/2014.
http://www.cnbc.com/...eady-burst.html
�
Edited by Wt_know, 24 August 2016 - 10:28 AM.
People say buy when there's fear. Now got so much fear but still people fear to buy.Every year is a good crashing year since 2013/2014.
http://www.cnbc.com/...eady-burst.html
Having been reading property scene for the last ten over years, there's never a no risk period.
Property price goes up, people start shouting crash is coming. Property price goes down, people say will drop further. Then when prices go up, then the cycle continues.
Like showster says, waiters will be waiters. If buying property is so straightforward and easy to discern, this thread won't have so many pages.
haha ... if buy and sell property is so easy ... everyone is propertyguru liao !
�
Like showster says, waiters will be waiters. If buying property is so straightforward and easy to discern, this thread won't have so many pages.
�
Need, don't wait.People say buy when there's fear. Now got so much fear but still people fear to buy.
Having been reading property scene for the last ten over years, there's never a no risk period.
Property price goes up, people start shouting crash is coming. Property price goes down, people say will drop further. Then when prices go up, then the cycle continues.
Like showster says, waiters will be waiters. If buying property is so straightforward and easy to discern, this thread won't have so many pages.
Wait, don't need.
You sure there is fear bro?
Those who have been to launches or viewed properties during the SARs period will know�the real�meaning of Fear
Even agents�went into hiding and�cannot be found�
�
Currently the�Bull has more than 7 tight heavy chains round the neck and deprived of food. he is not in his natural habitat.
The fear is not when the Bear will come to eat him up,
�
The fear is what will happen when the Bull breaks the chains and comes charging back with a vengeance
�
�
People say buy when there's fear. Now got so much fear but still people fear to buy.
Having been reading property scene for the last ten over years, there's never a no risk period.
Property price goes up, people start shouting crash is coming. Property price goes down, people say will drop further. Then when prices go up, then the cycle continues.
Like showster says, waiters will be waiters. If buying property is so straightforward and easy to discern, this thread won't have so many pages.
�
Haha nice analogy you have there. I feel its more like the bull being shot with 7 tranquilizers. If the external tranquilizer doesn't come, likely the bull may wake within the next few years. My 2 cents only la.You sure there is fear bro?
Those who have been to launches or viewed properties during the SARs period will know the real meaning of Fear
Even agents went into hiding and cannot be found
Currently the Bull has more than 7 tight heavy chains round the neck and deprived of food. he is not in his natural habitat.
The fear is not when the Bear will come to eat him up,
The fear is what will happen when the Bull breaks the chains and comes charging back with a vengeance
Now with super low interest rates, don't borrow to leverage also a little lugi lei.
Imagine a 200k deposit on a 1 million buy. So loan of 800k. Say 1.5%p.a. fixed mortgage interest package, so abt $12,000p.a. (would be lesser based on sibor now)
If the rent is abt 2800 a month, that's about 2500 left after fees, still have 30k a year.
Net gain about 18k (30-12k). That's about 9% on 200k invested. Then again this is assuming full rental during the year and not accounting for higher income tax which varies on individuals.
We haven't even include any price appreciation potential over the years yet. Did i miss something? Standing corrected in advance.
The recent Coe is a good example.
Once some cooling measures are taken away, confirm chiong chiong and away.
Cash is king but cash depreciates every year because of endless printing.
You make your call. I'm buying again soon....
Haha nice analogy you have there. I feel its more like the bull being shot with 7 tranquilizers. If the external tranquilizer doesn't come, likely the bull may wake within the next few years. My 2 cents only la.
Now with super low interest rates, don't borrow to leverage also a little lugi lei.
Imagine a 200k deposit on a 1 million buy. So loan of 800k. Say 1.5%p.a. fixed mortgage interest package, so abt $12,000p.a. (would be lesser based on sibor now)
If the rent is abt 2800 a month, that's about 2500 left after fees, still have 30k a year.
Net gain about 18k (30-12k). That's about 9% on 200k invested. Then again this is assuming full rental during the year and not accounting for higher income tax which varies on individuals.
We haven't even include any price appreciation potential over the years yet. Did i miss something? Standing corrected in advance.
�
loan principal no need to pay?
�
![[dizzy]](https://lh3.googleusercontent.com/blogger_img_proxy/AEn0k_soJsD-WcCBmgrQOrwKY3eEklIYBLe2FntUx3cAqiptYwB_LRpUIv9PGPZ4VKk3P5RJmuEWEbEKG_If6JRZGOfXBlNsblb0_z9ujAtSDeWoPcv6l7mUz_CPrzLMUiB5Ud4K5DYyxA=s0-d)
You sure there is fear bro?
Those who have been to launches or viewed properties during the SARs period will know the real meaning of Fear
Even agents went into hiding and cannot be found
Currently the Bull has more than 7 tight heavy chains round the neck and deprived of food. he is not in his natural habitat.
The fear is not when the Bear will come to eat him up,
The fear is what will happen when the Bull breaks the chains and comes charging back with a vengeance
The "bull" is on drugs
The drugs come at a huge expense and risks serious negative side effects
The chains help the Bull to rid the addiction
When the addiction is gone, the chains are no longer necessary.
Yes the fear is that a bull on drugs who charges will DIE an ugly early death.
haha ... if buy and sell property is so easy ... everyone is propertyguru liao !
�
�
There is only one property guru ... in my iphone app
�
Yalor, if buy and sell property so easy, every agent will buy and sell for themselves... why need to work for others?
Doggie loves Mercs tooMe loves hdbee! Me loves doggie too!
You have a good doggie day!
![[:p]](https://lh3.googleusercontent.com/blogger_img_proxy/AEn0k_s53qSgsayiD9GDyUA_RI2jCelWmG5FA7JXbhbCbmsbDA_hIE5TnX69Y5x7_vbC2ZZp9h4xkbD8MBP7ErUIjdlX0fXHER--jWObz1bqT5V48OTLTSBYRRJPuqcyogrT9CMaYbrPpTc=s0-d)
But no $ to buy...kekeke
Edited by Pinobii, 24 August 2016 - 03:32 PM.
I intend to get a doggie soon ... oops, not you Doggie
Maybe a miniature schnauzer :))
Lolxxx...miniature schnauzer is very pretty de
Think u will like :)
Bo la, the bull has just drunk some alcohol.
�
???!
�
Need to tie down and let it rest a while.
�
After that...
�
�
�
The "bull" is on drugs
The drugs come at a huge expense and risks serious negative side effects
The chains help the Bull to rid the addiction
When the addiction is gone, the chains are no longer necessary.
Yes the fear is that a bull on drugs who charges will DIE an ugly early death.
�
Doggie loves Mercs too
But no $ to buy...kekeke
�
The market is meant for everybody, buy REITS�
Doggie loves Mercs too
But no $ to buy...kekeke
�
The alternative to buying a private property is to buy the shares of the property developer, �if it is listed in the stock market. �That way, you participate in its success as it rides the rising property market.
�
If you ask me, currently it is very clear that the properties in the prime areas are rising in prices. �I think everyone is waiting for the PPI for the 3rd Qtr to be out in Oct to confirm if this rise has spread to the RCR and OCR areas. � If yes, then the overall private property market's�recovery is well underway. �No one will be able to dispute this then.�
�
Let's wait. �In the meantime, your war-chest should be getting bigger, so that it can be used when it is needed and at the right time too! ��
Wah, all these "Bull" talk
�
"Bull" is under chains PLUS still kenna Drugged
�
So cruel
�
and even worse "Die and ugly early death"
�
Can we be kinder and at least release a few of the chains, please?
�
�
�
�
The "bull" is on drugs
The drugs come at a huge expense and risks serious negative side effects
The chains help the Bull to rid the addiction
When the addiction is gone, the chains are no longer necessary.
Yes the fear is that a bull on drugs who charges will DIE an ugly early death.
�
Barely even dropped
�
and we are hoping for a recovery?
�
The alternative to buying a private property is to buy the shares of the property developer, �if it is listed in the stock market. �That way, you participate in its success as it rides the rising property market.
�
If you ask me, currently it is very clear that the properties in the prime areas are rising in prices. �I think everyone is waiting for the PPI for the 3rd Qtr to be out in Oct to confirm if this rise has spread to the RCR and OCR areas. � If yes, then the overall private property market's�recovery is well underway. �No one will be able to dispute this then.�
�
Let's wait. �In the meantime, your war-chest should be getting bigger, so that it can be used when it is needed and at the right time too! ��
�
You compulsorily save it. You don't pay it.
loan principal no need to pay?
I always thought that buying shares was good.The alternative to buying a private property is to buy the shares of the property developer, if it is listed in the stock market. That way, you participate in its success as it rides the rising property market.
If you ask me, currently it is very clear that the properties in the prime areas are rising in prices. I think everyone is waiting for the PPI for the 3rd Qtr to be out in Oct to confirm if this rise has spread to the RCR and OCR areas. If yes, then the overall private property market's recovery is well underway. No one will be able to dispute this then.
Let's wait. In the meantime, your war-chest should be getting bigger, so that it can be used when it is needed and at the right time too!
However I realised that I cannot buy 1 million dollars of shares but I can buy a million dollar property.
Also, share mkt greatly manipulated. Roller coaster not very good for my heart.
and you cannot take loan to buy share but property you can ... lol
�
I always thought that buying shares was good.
However I realised that I cannot buy 1 million dollars of shares but I can buy a million dollar property.
Also, share mkt greatly manipulated. Roller coaster not very good for my heart.
�
Actually you are only half right/half wrong.and you cannot take loan to buy share but property you can ... lol
You CAN borrow money to buy shares, just not able to borrow anything close to 1 million.
You've summed it well. That's my point too.That is the most bewildering open secret.
You compulsorily save it. You don't pay it.
wow....That is the most bewildering open secret.
You compulsorily save it. You don't pay it.
I don't understand the concept...buts it's ok as Long as the property investors do
Actually you are only half right/half wrong.
You CAN borrow money to buy shares, just not able to borrow anything close to 1 million.
Everything is about Lending Value.
Who says you cant borrow anything close to a million?
Likewise if your personal financial credibility is low, you think you can borrow to buy properties?
Have to la bro, nice rhetoric. You're right about the principal amount as a consideration.loan principal no need to pay?
It's just my 2cents, that when we sell our houses, we don't account for rental profits so i take principal payments as separate, as a form of forced contributions.
At the end of the day, so long as the price appreciation tags with the inflation rate, it's a way of consistent savings.
But of cos, there's also a possibility of price correction like what has happened over the past 3 years and that's when in totality, the yield on combined savings would have dropped.
In future when you sell, say 10 or 20 years later at todays same price, the funds used to pay the mortgage will be returned. Of course the selling price 20 years later can be lower or higher but that's a separate consideration.
The interest is the real cost, plus property tax, maintenance fees, income tax if rent out, insurance etc. So just work out the maths if keen.
Most important is if one can support the savings plus costs level with buffer savings. If cannot then HDB plus other investments will work too.
so you calculate your yield based on 200k down payment and ignore your subsequent "savings"
I don't doubt that the local property market is bottoming, if buy to stay this is a good time to look around.
�
If� buy to invest, I rather look at some good overseas properties for better yields.
For bro tenyawph...is it bargain hunting time... yet?
http://www.propertyg...out-for-in-2016
11 TOP projects to watch out for in 2016
August 26, 2016�
The best bargain hunting time will be in 2017. �This is when the 5-year ABSD penalty hits the affected developers hard. � See below:
�
Source: Business Times, 21 Mar 2016
�
Having said that, I think most of the developers will hold their prices steady. �This is to safeguard the buyers' interest (those who bought earlier) and also to not 'spoil the market'. �So I think the developers are prepared to absorb the penalty come 2017.
�
For those developments that have only a handful of units left, I think the developers will be more willing to give big discounts, just so as to close their account books.
�
Examples�
�
Echelon at Alexandra View, which is expected to TOP by Dec 2016, has only 2 penthouses left unsold. � �They come with a guide price of about $7.3M ~ $7.7M. �If you are to check the latest caveat lodged for a similar size penthouse sold this year, the transaction was done at $6.5M, a 11~15% discount from the guide price. �This development does not come under the ABDS penalty (its land sales was procured just days before the ABSD ruling was announced) yet an attractive discount was given .
�
Similarly, for Sennet Estate (one of the 11 TOP projects in 2016 mentioned above), with 17 unsold units out of a total of 332 units, I believe discounts could be obtained through private negotiations with the developer. � ��
�
Is time is running out for Nouvel 18?
�
CDL is now fully in charge of�Nouvel 18, having bought over the half-share from Wing Tai recently. ��CDL is now actively exploring ways to 'optimise and create value' for this project (as stated in CDL's financial report dated 11 Aug 2016), knowing full well that a QC charge of $38M is payable by Nov 2016 if all its units remain unsold. �I think CDL might dispose of this development through a bulk sale. �Let's see who the white knight in shining armour is that will do just that.
�
Early signs of a broad private property market recovery?
Lastly, I re-iterate the point that the property cooling measures seem to lose its effectiveness, as far as the properties in the prime area are concerned, as the PPI for the CCR has risen for 2 consecutive quarters. �For RCR, the PPI has risen for 1 quarter.
�
It remains to be seen if this rise has a spillover effect to the overall private property market. � Let's watch out for the flash estimate of the 3rd Qtr release of the PPI to get a better sensing.
The best bargain hunting time will be in 2017. �This is when the 5-year ABSD penalty hits the affected developers hard. � See below:
�
Source: Business Times, 21 Mar 2016
�
Having said that, I think most of the developers will hold their prices steady. �This is to safeguard the buyers' interest (those who bought earlier) and also to not 'spoil the market'. �So I think the developers are prepared to absorb the penalty come 2017.
�
For those developments that have only a handful of units left, I think the developers will be more willing to give big discounts, just so as to close their account books.
�
Examples�
�
Echelon at Alexandra View, which is expected to TOP by Dec 2016, has only 2 penthouses left unsold. � �They come with a guide price of about $7.3M ~ $7.7M. �If you are to check the latest caveat lodged for a similar size penthouse sold this year, the transaction was done at $6.5M, a 11~15% discount from the guide price. �This development does not come under the ABDS penalty (its land sales was procured just days before the ABSD ruling was announced) yet an attractive discount was given .
�
Similarly, for Sennet Estate (one of the 11 TOP projects in 2016 mentioned above), with 17 unsold units out of a total of 332 units, I believe discounts could be obtained through private negotiations with the developer. � ��
�
Is time is running out for Nouvel 18?
�
CDL is now fully in charge of�Nouvel 18, having bought over the half-share from Wing Tai recently. ��CDL is now actively exploring ways to 'optimise and create value' for this project (as stated in CDL's financial report dated 11 Aug 2016), knowing full well that a QC charge of $38M is payable by Nov 2016 if all its units remain unsold. �I think CDL might dispose of this development through a bulk sale. �Let's see who the white knight in shining armour is that will do just that.
�
Early signs of a broad private property market recovery?
Lastly, I re-iterate the point that the property cooling measures seem to lose its effectiveness, as far as the properties in the prime area are concerned, as the PPI for the CCR has risen for 2 consecutive quarters. �For RCR, the PPI has risen for 1 quarter.
�
It remains to be seen if this rise has a spillover effect to the overall private property market. � Let's watch out for the flash estimate of the 3rd Qtr release of the PPI to get a better sensing.
�
CDL is working on a PPS for Nouvel.
The best bargain hunting time will be in 2017. �This is when the 5-year ABSD penalty hits the affected developers hard. � See below:
�
Source: Business Times, 21 Mar 2016
�
Having said that, I think most of the developers will hold their prices steady. �This is to safeguard the buyers' interest (those who bought earlier) and also to not 'spoil the market'. �So I think the developers are prepared to absorb the penalty come 2017.
�
For those developments that have only a handful of units left, I think the developers will be more willing to give big discounts, just so as to close their account books.
�
Examples�
�
Echelon at Alexandra View, which is expected to TOP by Dec 2016, has only 2 penthouses left unsold. � �They come with a guide price of about $7.3M ~ $7.7M. �If you are to check the latest caveat lodged for a similar size penthouse sold this year, the transaction was done at $6.5M, a 11~15% discount from the guide price. �This development does not come under the ABDS penalty (its land sales was procured just days before the ABSD ruling was announced) yet an attractive discount was given .
�
Similarly, for Sennet Estate (one of the 11 TOP projects in 2016 mentioned above), with 17 unsold units out of a total of 332 units, I believe discounts could be obtained through private negotiations with the developer. � ��
�
Is time is running out for Nouvel 18?
�
CDL is now fully in charge of�Nouvel 18, having bought over the half-share from Wing Tai recently. ��CDL is now actively exploring ways to 'optimise and create value' for this project (as stated in CDL's financial report dated 11 Aug 2016), knowing full well that a QC charge of $38M is payable by Nov 2016 if all its units remain unsold. �I think CDL might dispose of this development through a bulk sale. �Let's see who the white knight in shining armour is that will do just that.
�
Early signs of a broad private property market recovery?
Lastly, I re-iterate the point that the property cooling measures seem to lose its effectiveness, as far as the properties in the prime area are concerned, as the PPI for the CCR has risen for 2 consecutive quarters. �For RCR, the PPI has risen for 1 quarter.
�
It remains to be seen if this rise has a spillover effect to the overall private property market. � Let's watch out for the flash estimate of the 3rd Qtr release of the PPI to get a better sensing.
�
�
And that's only a few months from now.... in 2017 :))
�
Get ready .... Get Set ... Chiong !
Today, we look at�The Quinn. �This is one of the rare freehold condo that is off Bartley Road. Consisting of 139 units, the average price is $1,558psf, with 32 unsold units left. �
�
A down-side is the relatively large area given to the balcony, leaving less space for the live-able space.
�
If you like the unique French classical design, and can stomach the relatively high psf, then this might be your dream home.
�
The developer, Top Global Limited, will have to pay about $10M for ABSD if all units are not fully sold by Apr 2017. �This is one of the developments under the private land sales that are facing the ABSD penalty in 2017. See below for the rest:
�
Source: Business Times 21 Mar 2016
�
So, to sum up, with many private developments facing the ABSD penalty in 2017, one thing is for sure: �The government coffers will be boosted up in 2017, if these developers don't come up with creative ways to move sales soon.
Bro, many thanks for your constant reminders�
And Yes, your Warchest talk�
�
�
It is inevitable some will have to cave in to offer additional discounts
The problem is that remaining units are usually the bigger size or poorer facing leftover units where the asking prices are already very high. So even after 5-10% discounts, may still not be worth it.
�
As long as developers continue to bid high high for land
Buyers will find it hard to benefit
�
�
�
The best bargain hunting time will be in 2017. �This is when the 5-year ABSD penalty hits the affected developers hard. � See below:
�
Source: Business Times, 21 Mar 2016
�
Having said that, I think most of the developers will hold their prices steady. �This is to safeguard the buyers' interest (those who bought earlier) and also to not 'spoil the market'. �So I think the developers are prepared to absorb the penalty come 2017.
�
For those developments that have only a handful of units left, I think the developers will be more willing to give big discounts, just so as to close their account books.
�
Examples�
�
Echelon at Alexandra View, which is expected to TOP by Dec 2016, has only 2 penthouses left unsold. � �They come with a guide price of about $7.3M ~ $7.7M. �If you are to check the latest caveat lodged for a similar size penthouse sold this year, the transaction was done at $6.5M, a 11~15% discount from the guide price. �This development does not come under the ABDS penalty (its land sales was procured just days before the ABSD ruling was announced) yet an attractive discount was given .
�
Similarly, for Sennet Estate (one of the 11 TOP projects in 2016 mentioned above), with 17 unsold units out of a total of 332 units, I believe discounts could be obtained through private negotiations with the developer. � ��
�
Is time is running out for Nouvel 18?
�
CDL is now fully in charge of�Nouvel 18, having bought over the half-share from Wing Tai recently. ��CDL is now actively exploring ways to 'optimise and create value' for this project (as stated in CDL's financial report dated 11 Aug 2016), knowing full well that a QC charge of $38M is payable by Nov 2016 if all its units remain unsold. �I think CDL might dispose of this development through a bulk sale. �Let's see who the white knight in shining armour is that will do just that.
�
Early signs of a broad private property market recovery?
Lastly, I re-iterate the point that the property cooling measures seem to lose its effectiveness, as far as the properties in the prime area are concerned, as the PPI for the CCR has risen for 2 consecutive quarters. �For RCR, the PPI has risen for 1 quarter.
�
It remains to be seen if this rise has a spillover effect to the overall private property market. � Let's watch out for the flash estimate of the 3rd Qtr release of the PPI to get a better sensing.
�
Bro, many thanks for your constant reminders
And Yes, your Warchest talk
It is inevitable some will have to cave in to offer additional discounts
The problem is that remaining units are usually the bigger size or poorer facing leftover units where the asking prices are already very high. So even after 5-10% discounts, may still not be worth it.
As long as developers continue to bid high high for land
Buyers will find it hard to benefit
Anyway, let's take a step back and look at reports based on hindsight on ABSD on developers.
Say trilinq, that was reported in March 16 on the edgeproperty:
"March 16: The Trilinq has around 10 months before the ABSD charges, estimated at $51 million, are due early next year. This means the developer must sell an average of 50 units a month to avoid the charges � a tall order given the soft market sentiment today."
The Trilinq has sold close to 50 units in July. (Compared with 4 in Feb and 7 in Jan). Probably about an average of 30 units from March but this would go up if sales were to improve like in the recent months.
Would the impact of absd be as severe as predicted if the market were to pick up like July?
Like i have suggested, look at the data logged in ura app, they can be quite telling.
This may be the reason why developers are not taking extreme measures but rather, preferring to weigh on the current buying sentiment first. The next quarter figures would be interesting.
Edited by Invigorated, 27 August 2016 - 03:13 PM.
OK, lets play monopoly game
�
let us just pick one out from the list u provided
�
Alex residences at Alexander road
�
say, e.g�investment unit
�
studio 474 sfeet high floor >2000pfs
�
ABSD coming, so presume developers say lelong sale, give 10% discount
�
Price becomes >1800pfs, 1 million drop to 900k
�
So would this be a good bargain?�
�
Prices look high high, after bargain�may still look�high
�
�
The best bargain hunting time will be in 2017. �This is when the 5-year ABSD penalty hits the affected developers hard. � See below:
�
Source: Business Times, 21 Mar 2016
�
Having said that, I think most of the developers will hold their prices steady. �This is to safeguard the buyers' interest (those who bought earlier) and also to not 'spoil the market'. �So I think the developers are prepared to absorb the penalty come 2017.
�
For those developments that have only a handful of units left, I think the developers will be more willing to give big discounts, just so as to close their account books.
�
Examples�
�
Echelon at Alexandra View, which is expected to TOP by Dec 2016, has only 2 penthouses left unsold. � �They come with a guide price of about $7.3M ~ $7.7M. �If you are to check the latest caveat lodged for a similar size penthouse sold this year, the transaction was done at $6.5M, a 11~15% discount from the guide price. �This development does not come under the ABDS penalty (its land sales was procured just days before the ABSD ruling was announced) yet an attractive discount was given .
�
Similarly, for Sennet Estate (one of the 11 TOP projects in 2016 mentioned above), with 17 unsold units out of a total of 332 units, I believe discounts could be obtained through private negotiations with the developer. � ��
�
Is time is running out for Nouvel 18?
�
CDL is now fully in charge of�Nouvel 18, having bought over the half-share from Wing Tai recently. ��CDL is now actively exploring ways to 'optimise and create value' for this project (as stated in CDL's financial report dated 11 Aug 2016), knowing full well that a QC charge of $38M is payable by Nov 2016 if all its units remain unsold. �I think CDL might dispose of this development through a bulk sale. �Let's see who the white knight in shining armour is that will do just that.
�
Early signs of a broad private property market recovery?
Lastly, I re-iterate the point that the property cooling measures seem to lose its effectiveness, as far as the properties in the prime area are concerned, as the PPI for the CCR has risen for 2 consecutive quarters. �For RCR, the PPI has risen for 1 quarter.
�
It remains to be seen if this rise has a spillover effect to the overall private property market. � Let's watch out for the flash estimate of the 3rd Qtr release of the PPI to get a better sensing.
�
OK, lets play monopoly game
�
let us just pick one out from the list u provided
�
Alex residences at Alexander road
�
say, e.g�investment unit
�
studio 474 sfeet high floor >2000pfs
�
ABSD coming, so presume developers say lelong sale, give 10% discount
�
Price becomes >1800pfs, 1 million drop to 900k
�
So would this be a good bargain?�
�
Prices look high high, after bargain�may still look�high
�
Good bargain? �I don't think so. Unfortunately, for this development, there is no intention for any�discount at all. �As reported by Business Times on 21 Mar 2016 below:
�
"Singapore Land (SingLand) general manager Michael Ng told The Business Times that the group does not intend to have any units left by the deadlines to meet ABSD remission conditions. "We don't have the intention to lower prices also," he said."�
�
Can he stand by his words when the time comes in end-2017? Let's see.
�
The units at very high floors (30th and above) are priced at >$2,000 psf. �Is this unblocked view worth the premium? �You be the judge.
�
�
�
�
Edited by tenyawph, 27 August 2016 - 03:31 PM.
Agree, one who wants to invest can always wait out but if one is looking at own stay, can be tricky to wait for the right price and right facing etc.
Anyway, let's take a step back and look at reports based on hindsight on ABSD on developers.
Say trilinq, that was reported in March 16 on the edgeproperty:
"March 16: The Trilinq has around 10 months before the ABSD charges, estimated at $51 million, are due early next year. This means the developer must sell an average of 50 units a month to avoid the charges � a tall order given the soft market sentiment today."
The Trilinq has sold close to 50 units in July. (Compared with 4 in Feb and 7 in Jan). Probably about an average of 30 units from March but this would go up if sales were to improve like in the recent months.
Would the impact of absd be as severe as predicted if the market were to pick up like July?
Like i have suggested, look at the data logged in ura app, they can be quite telling.
This may be the reason why developers are not taking extreme measures but rather, preferring to weigh on the current buying sentiment first. The next quarter figures would be interesting.�
In the case of The Trilinq, the increase in sales might have come too late. �As of end Jul 2016, there is still 391 unsold units. �There is barely 6 months left to the deadline. �Now IOI, the developer, has to sell at least 65 units per month from now, not 50 units per month as calculated in the beginning of the year.
�
The situation for The Trilinq has gotten worse! �
�
But if the private property market can recover fast enough, IOI might get a slim chance to escape paying the ABSD penalty. �
�
Personally, I will not recommend buying The Trilinq, if the review by Proper Square is to be believed: �
http://www.propersqu...nq#.V8FHQSzr3IU
�
At the end of the day, you must like what you see, then make the decision. �Happy house hunting!
In the case of The Trilinq, the increase in sales might have come too late. As of end Jul 2016, there is still 391 unsold units. There is barely 6 months left to the deadline. Now IOI, the developer, has to sell at least 65 units per month from now, not 50 units per month as calculated in the beginning of the year.
The situation for The Trilinq has gotten worse!
But if the private property market can recover fast enough, IOI might get a slim chance to escape paying the ABSD penalty.
Personally, I will not recommend buying The Trilinq, if the review by Proper Square is to be believed:
http://www.propersqu...nq#.V8FHQSzr3IU
At the end of the day, you must like what you see, then make the decision. Happy house hunting!
I have no interest in it, just have an interest in the movement of the general market.
We must bear in mind that ABSD is not a loss until it's materialised. For IOI, it may just be a smaller profit for the remaining units, which there is already a margin in the first place, at most smaller profit.
If there are 50-100 units left, for instance, they may well pay for it and hold up if the general market sentiment is healthy.
It's just like buyers paying absd now, it merely presents a smaller profit margin, buy may not necessarily be a loss until realised.
It's important when reading reviews to consider multiple ones.
�
Examine all angles. Some may be biased so make your own judgement as well.
�
�
https://www.propwise...ew-the-trilinq/
�
https://www.property...sg/the-trilinq/
�
http://www.propertyg...q-review-135412
�
http://sgpropertyreviews.com/trilinq/
�
�
�
In the case of The Trilinq, the increase in sales might have come too late. �As of end Jul 2016, there is still 391 unsold units. �There is barely 6 months left to the deadline. �Now IOI, the developer, has to sell at least 65 units per month from now, not 50 units per month as calculated in the beginning of the year.
�
The situation for The Trilinq has gotten worse! �
�
But if the private property market can recover fast enough, IOI might get a slim chance to escape paying the ABSD penalty. �
�
Personally, I will not recommend buying The Trilinq, if the review by Proper Square is to be believed: �
http://www.propersqu...nq#.V8FHQSzr3IU
�
At the end of the day, you must like what you see, then make the decision. �Happy house hunting!
�
Wa Bro, you are providing real time update
�
Even your photo captured the Haze �
�
We must salute this general manager �if he has been correctly quoted
�
"We don't have the intention to lower prices also,""
�
His Big bosses should be happy with the defiance stand
�
With Alex View just next to redhill MRT coming up and the unsold inventories of the new condos in that area
�
Must say quite a �tough stance to take
�
Thats why we must SALUTE�
�
�
Good bargain? �I don't think so. Unfortunately, for this development, there is no intention for any�discount at all. �As reported by Business Times on 21 Mar 2016 below:
�
"Singapore Land (SingLand) general manager Michael Ng told The Business Times that the group does not intend to have any units left by the deadlines to meet ABSD remission conditions. "We don't have the intention to lower prices also," he said."�
�
Can he stand by his words when the time comes in end-2017? Let's see.
�
The units at very high floors (30th and above) are priced at >$2,000 psf. �Is this unblocked view worth the premium? �You be the judge.
�
buyers tan ku ku ..... until pokemon egg hatch
Edited by Wt_know, 27 August 2016 - 05:53 PM.
BTW, what is there to prevent the developers from selling the remaining units to property agents??
�
I saw this development recently that was almost empty. The property agent says that the unit and many others are sold to "property agent" but she was rather vague on who the owner was.�
�
I think if they buy through entities like investment company, they have to cough up 15% ABSD.�
�
I am wondering if there is a loophole developers can exploit to minimize their ABSD.... probably there is...
I don't doubt that the local property market is bottoming, if buy to stay this is a good time to look around.
�
If� buy to invest, I rather look at some good overseas properties for better yields.
�
Local property yield is so low partly because the initerest rate is extremely low, that is why people are willing to pay buy at such prices.�
�
If you look at a typical buyer calculation, so much is dependent on the prevailing interest rate. IF initerest rates fall further, the property price increase (Capital appreciation) plus you have more yield.
�
If interest rates rises, the other way lor
I'll take you up on that monopoly game�
�
Anyway I'll give a brief example of how I would approach this by using this studio I was looking at previously in 2012 or 2013 which I believe is a better investment over Alex Residence
�
http://www.propertyg...sale-mill-point
�
Advantages�
- 999 years
- Situated opposite Great World & near Hawker Centre
- Upcoming MRT directly opposite 2 stops away from orchard and direct link to Downtown station
- Attracts young professionals
- 2 parking lots per unit (tons of parking)�
- Decent facilities (pool is not bad, gym also okay)
- Great layout hardly any wastage
�
Cons
- No school nearby (no issue cause families don't rent this anyway)
- Near Long Kang (also not that near also)
- Less facilities
- Traffic's abit dicey sometimes
�
Decided it was still overpriced because the agent advise rental could be about 3.8k but after checking it seem this was heng xuay (realistically more like 3k IMO at the time) and truly enough for unit this size it is now at 2.7k transacted.
�
Also my target exit price was hopefully 1.3M after MRT was built (about 2.46k psf) which at the time the seller wanted 1.1M giving me a maybe profit of 200k if all went well, too little profit for all the potential risk I need to hold from then till now.
�
For investment my entry price would be about 1.7k psf or much less (900k or less) after factoring various risk vs payoff. Not to mention 1 bedder are higher risk and the prices are the first to get depressed the most during a downtown.
�
Given the above I wouldn't consider Alex Residence at 1.8k psf, then again I can't say what my entry/exit price is either cause I've yet to review the area and what potential benefits it will bring. Bearing in mind the area will have no new mrts/transits to my knowledge so really all the good stuff is already priced in, I don't see much upside because of that and location don't really impress too much either.
�
�
�
OK, lets play monopoly game
�
let us just pick one out from the list u provided
�
Alex residences at Alexander road
�
say, e.g�investment unit
�
studio 474 sfeet high floor >2000pfs
�
ABSD coming, so presume developers say lelong sale, give 10% discount
�
Price becomes >1800pfs, 1 million drop to 900k
�
So would this be a good bargain?�
�
Prices look high high, after bargain�may still look�high
�
Your appetite is huge eh...
�
Put in 200-300K earn another 200K in 4 years still not enough?
�
Studios don't really get pressed during downturn. The first to get pressed are the giant penthouses. Think about it, during downturn, which would people rent more or buy to be defensive, studios and smaller houses or giant penthouses?
�
But its likely they may take longer to rise during a bull run, and due to the absolute size, have the lowest quantum to run.
�
�
I'll take you up on that monopoly game�
�
Anyway I'll give a brief example of how I would approach this by using this studio I was looking at previously in 2012 or 2013 which I believe is a better investment over Alex Residence
�
http://www.propertyg...sale-mill-point
�
Advantages�
- 999 years
- Situated opposite Great World & near Hawker Centre
- Upcoming MRT directly opposite 2 stops away from orchard and direct link to Downtown station
- Attracts young professionals
- 2 parking lots per unit (tons of parking)�
- Decent facilities (pool is not bad, gym also okay)
- Great layout hardly any wastage
�
Cons
- No school nearby (no issue cause families don't rent this anyway)
- Near Long Kang (also not that near also)
- Less facilities
- Traffic's abit dicey sometimes
�
Decided it was still overpriced because the agent advise rental could be about 3.8k but after checking it seem this was heng xuay (realistically more like 3k IMO at the time) and truly enough for unit this size it is now at 2.7k transacted.
�
Also my target exit price was hopefully 1.3M after MRT was built (about 2.46k psf) which at the time the seller wanted 1.1M giving me a maybe profit of 200k if all went well, too little profit for all the potential risk I need to hold from then till now.
�
For investment my entry price would be about 1.7k psf or much less (900k or less) after factoring various risk vs payoff. Not to mention 1 bedder are higher risk and the prices are the first to get depressed the most during a downtown.
�
Given the above I wouldn't consider Alex Residence at 1.8k psf, then again I can't say what my entry/exit price is either cause I've yet to review the area and what potential benefits it will bring. Bearing in mind the area will have no new mrts/transits to my knowledge so really all the good stuff is already priced in, I don't see much upside because of that and location don't really impress too much either.
�
I'll take you up on that monopoly game�
�
Anyway I'll give a brief example of how I would approach this by using this studio I was looking at previously in 2012 or 2013 which I believe is a better investment over Alex Residence
�
http://www.propertyg...sale-mill-point
�
Advantages�
- 999 years
- Situated opposite Great World & near Hawker Centre
- Upcoming MRT directly opposite 2 stops away from orchard and direct link to Downtown station
- Attracts young professionals
- 2 parking lots per unit (tons of parking)�
- Decent facilities (pool is not bad, gym also okay)
- Great layout hardly any wastage
�
Cons
- No school nearby (no issue cause families don't rent this anyway)
- Near Long Kang (also not that near also)
- Less facilities
- Traffic's abit dicey sometimes
�
Decided it was still overpriced because the agent advise rental could be about 3.8k but after checking it seem this was heng xuay (realistically more like 3k IMO at the time) and truly enough for unit this size it is now at 2.7k transacted.
�
Also my target exit price was hopefully 1.3M after MRT was built (about 2.46k psf) which at the time the seller wanted 1.1M giving me a maybe profit of 200k if all went well, too little profit for all the potential risk I need to hold from then till now.
�
For investment my entry price would be about 1.7k psf or much less (900k or less) after factoring various risk vs payoff. Not to mention 1 bedder are higher risk and the prices are the first to get depressed the most during a downtown.
�
Given the above I wouldn't consider Alex Residence at 1.8k psf, then again I can't say what my entry/exit price is either cause I've yet to review the area and what potential benefits it will bring. Bearing in mind the area will have no new mrts/transits to my knowledge so really all the good stuff is already priced in, I don't see much upside because of that and location don't really impress too much either.
�
It is actually quite difficult to make a straightforward comparison between two similar-sized units, if one is a completed unit (999-year leasehold Mill Point), and the other is still under construction (99-year leasehold Alex Residences).�
�
For Mill point, you would have paid the purchase price of the unit in full, but can rent it out immediately.
�
For Alex Residences, you are making progressive payments over 4 years (less tough on the pocket) but no rent to collect for the time being until TOP.
�
Alex Residences main selling point is its proximity to Redhill MRT (a short walk). Mill Point is less accessible, and is already 10-year plus old.
�
On hindsight, it seems that you have made the right decision not to buy a studio unit at Mill Point in 2012/2013. �There has been no recent resale transaction for 1-bedder at Mill Point for comparison, but based on the asking price of a similar-size unit now, you would have suffered about $100K in capital depreciation if you have gone ahead to buy one at $1.1M in 2012/2013. ��
�
If you have bought a 1-bedder unit at Alex Residences in 2013, the floor size is slightly smaller at 474 sq ft, but the cost will be cheaper than Mill Point, at $1,640 to $1,740psf (lower floors available during initial launch), �Quantum wise will be cheaper too, between $770K to $830K since the floor size is 474 sq ft, not 527 sq ft. � But no rent to collect as the TOP is expected in Dec 2017.
�
Fast forward to Aug 2016. �It is now impossible to buy a 1-bedder at Alex Residences at $1,740 psf anymore, because all the lower floors are fully sold. �Those above 30th floor are available but priced at >$2,000 psf. �
�
Nevertheless, there are plenty of choices you can look around. �If you are looking for a unit around Alexandra area to invest and rent out, you got Metropolitian, Tanglin Regency, Tanglin View, Ascentia Sky, Echelon, The Crest and Principal Gardens. �The first 4 are completed developments, the remaining are still under construction.
�
Good luck in hunting for the right unit!
Well I look at it this way,
�
I could possibly lose 200k during a downtown given pricing then (if I invested then I would be realistically down 100k already), risking that for 200k profit imo is not worth it. I would say its not so much about the ROI but rather acceptable entry price with minimal downturn risk.
�
Ideally property investment for 4 years I would target 60 - 80% (ya lah I sibei gian peng
�)
�
As for studios just from my perspective typical property investors typically go for 3 - 4 bedder (least I do anyway), big penthouses normally for people who want to live there or investors with too much cash (another category). 1 Bedders/Studios are kind of in the middle and with these units the usually have these characteristics
�
- High psf
- Target solo professionals with extra budget
- Less flexibility on space usage
�
During a downtown proper investors will always account for Psf, psychologically the high psf will be a bit of a put off but not the main show. Rental yield will likely take a bigger hit as these units target a very select group of the market which was likely why some of the units saw rental fall from 3.8k (what I was told) - 2.7k (current). Space being limited means the tenants can't do co-tenanting to split cost.
�
Of course this is not certainty bah, certain areas (town areas) where psf is always consistently high I will consider 1 bedder/studio areas . Then again my approach is always looks for areas with upcoming MRT stations not existing ones.
�
�
Your appetite is huge eh...
�
Put in 200-300K earn another 200K in 4 years still not enough?
�
Studios don't really get pressed during downturn. The first to get pressed are the giant penthouses. Think about it, during downturn, which would people rent more or buy to be defensive, studios and smaller houses or giant penthouses?
�
But its likely they may take longer to rise during a bull run, and due to the absolute size, have the lowest quantum to run.
�
Bro T2 also kenna fooled by this before. Asking prices are mostly just an illusion, sometimes set for "fishing" purposes. There has been so much frustration from people who believed the asking prices. I used to believe it until I called the agents. Whilst some are genuine, many are just increasing their profile or exposure in this manner. Read some of the frustrations below in the most used property portal locally. Not illegal but very common.
�
http://www.propertyg...e-agents-whom-i
http://www.propertyg...f-a-unit-being-
http://www.propertyg...hose-agents-adv
�
No recent transaction also means that owners are valuing or deriving higher values (rent or stay) from the unit than buyers are likely to pay. In other words, bracing through the current financing strapped period.
�
A better way is to check the valuation for similar properties in the similar locality transacted recently.
�
�
�
It is actually quite difficult to make a straightforward comparison between two similar-sized units, if one is a completed unit (999-year leasehold Mill Point), and the other is still under construction (99-year leasehold Alex Residences).�
�
For Mill point, you would have paid the purchase price of the unit in full, but can rent it out immediately.
�
For Alex Residences, you are making progressive payments over 4 years (less tough on the pocket) but no rent to collect for the time being until TOP.
�
Alex Residences main selling point is its proximity to Redhill MRT (a short walk). Mill Point is less accessible, and is already 10-year plus old.
�
On hindsight, it seems that you have made the right decision not to buy a studio unit at Mill Point in 2012/2013. �There has been no recent resale transaction for 1-bedder at Mill Point for comparison, but based on the asking price of a similar-size unit now, you would have suffered about $100K in capital depreciation if you have gone ahead to buy one at $1.1M in 2012/2013. ��
�
If you have bought a 1-bedder unit at Alex Residences in 2013, the floor size is slightly smaller at 474 sq ft, but the cost will be cheaper than Mill Point, at $1,640 to $1,740psf (lower floors available during initial launch), �Quantum wise will be cheaper too, between $770K to $830K since the floor size is 474 sq ft, not 527 sq ft. � But no rent to collect as the TOP is expected in Dec 2017.
�
Fast forward to Aug 2016. �It is now impossible to buy a 1-bedder at Alex Residences at $1,740 psf anymore, because all the lower floors are fully sold. �Those above 30th floor are available but priced at >$2,000 psf. �
�
Nevertheless, there are plenty of choices you can look around. �If you are looking for a unit around Alexandra area to invest and rent out, you got Metropolitian, Tanglin Regency, Tanglin View, Ascentia Sky, Echelon, The Crest and Principal Gardens. �The first 4 are completed developments, the remaining are still under construction.
�
Good luck in hunting for the right unit!
�
That kind of risk-gain I believe is only possible in emerging markets overseas.
�
Matured markets very unlikely unless your time horizon is much much longer.
�
Well I look at it this way,
�
I could possibly lose 200k during a downtown given pricing then (if I invested then I would be realistically down 100k already), risking that for 200k profit imo is not worth it. I would say its not so much about the ROI but rather acceptable entry price with minimal downturn risk.
�
Ideally property investment for 4 years I would target 60 - 80% (ya lah I sibei gian peng
�
As for studios just from my perspective typical property investors typically go for 3 - 4 bedder (least I do anyway), big penthouses normally for people who want to live there or investors with too much cash (another category). 1 Bedders/Studios are kind of in the middle and with these units the usually have these characteristics
�
- High psf
- Target solo professionals with extra budget
- Less flexibility on space usage
�
During a downtown proper investors will always account for Psf, psychologically the high psf will be a bit of a put off but not the main show. Rental yield will likely take a bigger hit as these units target a very select group of the market which was likely why some of the units saw rental fall from 3.8k (what I was told) - 2.7k (current). Space being limited means the tenants can't do co-tenanting to split cost.
�
Of course this is not certainty bah, certain areas (town areas) where psf is always consistently high I will consider 1 bedder/studio areas . Then again my approach is always looks for areas with upcoming MRT stations not existing ones.
�
Damn you are spot on for the estimated loss at 100k, I wrote my reply before I read yours.
�
Honestly though I don't see much upside on the Alexander area, but 1640 - 1740 psf would be definitely a more attractable price.
�
Speaking of that last time I saw a property around Alexander was a HDB shophouse in Jalan Rumah Tinggi, dual shophouse commercial/residential selling for about 950K. That was quite attractive but didn't pull the trigger, from an investment standpoint thats not bad either if you are ok to mange the the "residential tenants" (aka 8 Ft's on bunk beds
�
I have a quirky investment approach LOL
�
�
It is actually quite difficult to make a straightforward comparison between two similar-sized units, if one is a completed unit (999-year leasehold Mill Point), and the other is still under construction (99-year leasehold Alex Residences).�
�
For Mill point, you would have paid the purchase price of the unit in full, but can rent it out immediately.
�
For Alex Residences, you are making progressive payments over 4 years (less tough on the pocket) but no rent to collect for the time being until TOP.
�
Alex Residences main selling point is its proximity to Redhill MRT (a short walk). Mill Point is less accessible, and is already 10-year plus old.
�
On hindsight, it seems that you have made the right decision not to buy a studio unit at Mill Point in 2012/2013. �There has been no recent resale transaction for 1-bedder at Mill Point for comparison, but based on the asking price of a similar-size unit now, you would have suffered about $100K in capital depreciation if you have gone ahead to buy one at $1.1M in 2012/2013. ��
�
If you have bought a 1-bedder unit at Alex Residences in 2013, the floor size is slightly smaller at 474 sq ft, but the cost will be cheaper than Mill Point, at $1,640 to $1,740psf (lower floors available during initial launch), �Quantum wise will be cheaper too, between $770K to $830K since the floor size is 474 sq ft, not 527 sq ft. � But no rent to collect as the TOP is expected in Dec 2017.
�
Fast forward to Aug 2016. �It is now impossible to buy a 1-bedder at Alex Residences at $1,740 psf anymore, because all the lower floors are fully sold. �Those above 30th floor are available but priced at >$2,000 psf. �
�
Nevertheless, there are plenty of choices you can look around. �If you are looking for a unit around Alexandra area to invest and rent out, you got Metropolitian, Tanglin Regency, Tanglin View, Ascentia Sky, Echelon, The Crest and Principal Gardens. �The first 4 are completed developments, the remaining are still under construction.
�
Good luck in hunting for the right unit!
�
Edited by Mercury1, 27 August 2016 - 10:40 PM.
I feel that 2 bedders are the best bets and they have stood the test of time for renting and owning purposes.
�
You have a good strategy and here's wishing you the best.
�
Damn you are spot on for the estimated loss at 100k, I wrote my reply before I read yours.
�
Honestly though I don't see much upside on the Alexander area, but 1640 - 1740 psf would be definitely a more attractable price.
�
Speaking of that last time I saw a property around Alexander was a HDB shophouse in Jalan Rumah Tinggi, dual shophouse commercial/residential selling for about 950K. That was quite attractive but didn't pull the trigger, from an investment standpoint thats not bad either if you are ok to mange the the "residential tenants" (aka 8 Ft's on bunk beds
�
I have a quirky investment approach LOL
�
Boils down to timing and a lot of luck sometimes, but also on the type of development you're targeting (new/old).
�
Around mid 2011 where the market was high I bought a really old development �which is now about 30% up (think the owner was undergoing issues had to liquidate). A lot of investors didn't even view the place because it was so run down the agent would warn you before you viewed just to manage expectations. LOL
�
But the development was 400 meters from Pasir Panjang Mrt so despite the condition I believe it had potential, price was right too hehe
�
�
Bro T2 also kenna fooled by this before. Asking prices are mostly just an illusion, sometimes set for "fishing" purposes. There has been so much frustration from people who believed the asking prices. I used to believe it until I called the agents. Whilst some are genuine, many are just increasing their profile or exposure in this manner. Read some of the frustrations below in the most used property portal locally. Not illegal but very common.
�
http://www.propertyg...e-agents-whom-i
http://www.propertyg...f-a-unit-being-
http://www.propertyg...hose-agents-adv
�
No recent transaction also means that owners are valuing or deriving higher values (rent or stay) from the unit than buyers are likely to pay. In other words, bracing through the current financing strapped period.
�
A better way is to check the valuation for similar properties in the similar locality transacted recently.
�
�
�
�
That kind of risk-gain I believe is only possible in emerging markets overseas.
�
Matured markets very unlikely unless your time horizon is much much longer.
�
I hope so, time will tell. Anyway swapping investment approach is always good but more knowledge eitherways.
�
I feel that 2 bedders are the best bets and they have stood the test of time for renting and owning purposes.
�
You have a good strategy and here's wishing you the best.
�
BTW, what is there to prevent the developers from selling the remaining units to property agents??
�
I saw this development recently that was almost empty. The property agent says that the unit and many others are sold to "property agent" but she was rather vague on who the owner was.�
�
I think if they buy through entities like investment company, they have to cough up 15% ABSD.�
�
I am wondering if there is a loophole developers can exploit to minimize their ABSD.... probably there is...
�
Eh....this logic seems flawed. �Should any property agent be obliged to buy the remaining unsold units from the developers?�
�
Think about it. If a development cannot sell well, the last person to buy any unit of this development will be the property agent, who are more savvy about real estate than the public. �
�
�
Conversely, if a development is perceived to be of good value, even property agents jumped in.�
�
Take the example of J Gateway. �It sold like hotcakes during its launch day.
�
http://business.asia...-out-launch-day
1 Jul 2013
�
The J Gateway showflat has been open for two weeks, allowing buyers to check out the 99-year leasehold development and lodge an interest.
�
About 1,400 blank cheques had been placed with the developer MCL Land before yesterday and 1,500 people in all turned up for the balloting process.
�
By the end of the day, 736 units in the 738-unit complex had been sold.
�
This is the first time since January's tough property cooling measures that buyers have snapped up almost all the units on the first day of a launch.
�
Units were sold at an average of $1,480 per sq ft (psf), said MCL Land chief executive Koh Teck Chuan. The one-bedders went for about $1,778 psf, beating initial expectations of $1,650 psf, while four-bedders were sold at $1,400 psf.
�
----------------------------------------------------
�
What was not reported was that many of the buyers included the property agents themselves who are marketing this development. Many of them got the 1-bedder for investment purposes, because they know the URA masterplan for Jurong East area, which is available at the URA website.
�
Unfortunately, the public in general does not read up and get in-the-know about the URA masterplans. �
�
For those serious about investing in property in Singapore, do visit the URA website.
Boils down to timing and a lot of luck sometimes, but also on the type of development you're targeting (new/old).
Around mid 2011 where the market was high I bought a really old development which is now about 30% up (think the owner was undergoing issues had to liquidate). A lot of investors didn't even view the place because it was so run down the agent would warn you before you viewed just to manage expectations. LOL
But the development was 400 meters from Pasir Panjang Mrt so despite the condition I believe it had potential, price was right too hehe
I hope so, time will tell. Anyway swapping investment approach is always good but more knowledge eitherways.
A litmus test I use to assess how a relatively new property is whether there are many listings and transactions after the project units can be sold without penalty ie SSD. Few listings and transactions also says something about the development.
I would say do your homework, there are still bargains abound, with 3% to 4% yield, pretty decent for current market. Look at resale, or those already tenanted with such yield.
Coupled with low interest rates, already a double gain to me, and I'm not even going there to talk about any future capitial appreciation.
To me, SG properties will always be worth it's weight in gold, and just like gold prices, will have ups and downs,
Just my personal take on it, my flavour may not be yours, can agree to disagree
Highest yielding freehold condos in Singapore
August 26, 2016
If you are on the hunt for yield, real estate continues to be an attractive investment class considering fixed deposits are less than 1% and average dividend yield for equities is in the same range of 3-4%.
As a reference, rental yield for Singapore condos ranges from 1.5% to 12%. Although there are a handful (20 to be precise) of properties which yield above 5%, most of these are older, 99-year leasehold projects located in the mass market. The key in the hunt for yield is to find condos which can give you reasonable rental and at the same time preserve your capital values in the long-run.
Are there such projects? Yes, and we�ve done the homework for you.
In our analysis, we only looked at freehold or 999-year leasehold condos to ensure preservation of capital values. We excluded condos with fewer than 6 rental contracts and 6 sales transactions over the last year (it is difficult to rent out when there�s no liquidity in demand) as well as those with limited selection of properties for sale (you can�t invest in what�s not for sale). To compute rental yield, we took an average of the rental values divided by transacted prices over one year. Finally, we categorized them into the different market segments, namely central area, rest of central and outside central.
These are the top 10 results for each market segment:
Central Area
Projects Rental Yield (%)
ALEXIS 4.09
VISIONCREST 3.56
MARTIN PLACE RESIDENCES 3.45
PARC EMILY 3.39
CITY SQUARE RESIDENCES 3.37
RV RESIDENCES 3.37
WATERMARK ROBERTSON QUAY 3.23
CUBE 8 3.21
STARLIGHT SUITES 3.17
PARK INFINIA AT WEE NAM 3.14
Rest of Central
Projects Rental Yield (%)
PARC IMPERIAL 4.4
RIVERBAY 3.96
PRESTIGE HEIGHTS 3.89
MELOSA 3.67
THE SUNNY SPRING 3.65
THE INFINITI 3.37
THE CASCADIA 3.36
CLEMENTI PARK 3.25
THE PARC CONDOMINIUM 3.24
REGENT RESIDENCES 3.11
Outside Central
Projects Rental Yield (%)
FLAMINGO VALLEY 3.46
38 I SUITES 3.35
RIS GRANDEUR 3.35
KATONG REGENCY 3.27
AMBER RESIDENCES 3.25
ONE AMBER 3.24
MODA 3.22
BULLION PARK 3.2
CHANGI GREEN 3.19
JUPITER 18 3.19
donny t2 1 against 10....
Only times I lost sleep was when I was planning to buy.
Frankly speaking I am just as bored as you guys are...Lol....
I don't know, rental is like shit (seriously bad), supply is rising, vacancy rate is up, demand is slowing due to job losses and the economic outlook and with QC fire sales round the corner, I hear market is bottoming out in MCF!!! Maybe for prime districts which have dropped by more than 20% but for the rest of the market, I am not so sure. I am however surprised developers are still paying good price for EC land in recent land tenders, so $800psf is well supported (won't argue with industrial players who put money where their mouth is, can't say the same for many here) but between prime and $800 psf location, I don't see prices going anywhere but down. And if interest rate were to go back to 2-3%, unlikely this year, all bets are off, there will be a new bottom.
Just my thoughts, I don't analyse RE data like some full timers here, so I might be wrong but I am definitely not losing sleep if I am, unlike many here.
Leave it up to your imagination.
Only times I lost sleep was when I was planning to buy.
Frankly speaking I am just as bored as you guys are...
Ok, I am seriously bored.
Nolar, I not talking about you, you can afford Sentosa properties, I can only afford HDB or maybe mass market condo if I leverage big time, you sure sleep very well one. And don't worry, property prices can only go up over the long run, it is a matter of time you will take back your losses, if any.
Ok, I am seriously bored.
3 gain 1 loss. The only loss is for own stay ha...
I also never said prices will just keep going up. In fact I said its going to be a very slow boat unless some unpredicable event takes place.
See the need and can afford just can buy and no need to play with chance. Don't see the need or still not affordable, options are aplenty, just not suitable for people with certain risk profiles.
eh 353 pages, you all tok so much, so up or down? hahhaha
�
�
i need to start part 2 soon....
�
simpur ...�
Attached Thumbnails
Err... can we take a page from the coe threads
Over there, many shout Up & Down every 2-3 weeks with new thread
�
Here in property thread, people do not shout Up & Down
only intellectual discussions�
Of course such discussions tend to be long�
�
Also needs new players like the coe threads
If not every few pages will see the usual Yawn & Drum roll�
�
eh 353 pages, you all tok so much, so up or down? hahhaha
�
�
i need to start part 2 soon....
�
Good useful information
�
But need to caution that such yields are affected by the composition of the unit sizes
condos like alexis are composed mainly of super mickey mouse units so yiled will be high compared to those with 30-50% big size units
�
http://www.theedgepr...ondos-singapore
Highest yielding freehold condos in Singapore
August 26, 2016
If you are on the hunt for yield, real estate continues to be an attractive investment class considering fixed deposits are less than 1% and average dividend yield for equities is in the same range of 3-4%.
As a reference, rental yield for Singapore condos ranges from 1.5% to 12%. Although there are a handful (20 to be precise) of properties which yield above 5%, most of these are older, 99-year leasehold projects located in the mass market. The key in the hunt for yield is to find condos which can give you reasonable rental and at the same time preserve your capital values in the long-run.
Are there such projects? Yes, and we�ve done the homework for you.
In our analysis, we only looked at freehold or 999-year leasehold condos to ensure preservation of capital values. We excluded condos with fewer than 6 rental contracts and 6 sales transactions over the last year (it is difficult to rent out when there�s no liquidity in demand) as well as those with limited selection of properties for sale (you can�t invest in what�s not for sale). To compute rental yield, we took an average of the rental values divided by transacted prices over one year. Finally, we categorized them into the different market segments, namely central area, rest of central and outside central.
These are the top 10 results for each market segment:
Central Area
Projects Rental Yield (%)
ALEXIS 4.09
VISIONCREST 3.56
MARTIN PLACE RESIDENCES 3.45
PARC EMILY 3.39
CITY SQUARE RESIDENCES 3.37
RV RESIDENCES 3.37
WATERMARK ROBERTSON QUAY 3.23
CUBE 8 3.21
STARLIGHT SUITES 3.17
PARK INFINIA AT WEE NAM 3.14
Rest of Central
Projects Rental Yield (%)
PARC IMPERIAL 4.4
RIVERBAY 3.96
PRESTIGE HEIGHTS 3.89
MELOSA 3.67
THE SUNNY SPRING 3.65
THE INFINITI 3.37
THE CASCADIA 3.36
CLEMENTI PARK 3.25
THE PARC CONDOMINIUM 3.24
REGENT RESIDENCES 3.11
Outside Central
Projects Rental Yield (%)
FLAMINGO VALLEY 3.46
38 I SUITES 3.35
RIS GRANDEUR 3.35
KATONG REGENCY 3.27
AMBER RESIDENCES 3.25
ONE AMBER 3.24
MODA 3.22
BULLION PARK 3.2
CHANGI GREEN 3.19
JUPITER 18 3.19�
That said, do any of you guys think the 41 cases of Zika is going to have a detrimental effect on the property prices there especially if it continues to spread? It seems pretty serious.
�
�
Too little to make an impact ...
�
Unless its something like SARS, that may impact anyone and anywhere and the effect is devastating like death ...
I really hope we don't see this ...
spore zika is not at concern stage at all ... at least for nowThat said, do any of you guys think the 41 cases of Zika is going to have a detrimental effect on the property prices there especially if it continues to spread? It seems pretty serious.
Edited by Wt_know, 28 August 2016 - 07:52 PM.
u serious? even brazil zika virus "outbreak" did not bring down olympic
spore zika is not at concern stage at all ... at least for now
Hi Bro, OK�my turn for the game�
�
Thanks for sharing ur thoughts and reasoning.
Good that u did not pick up the unit
�
Even with a roll of the dice and I landed in millpoint, I wont consider buying
�
because:
�
1. The condo is a poor sister�in the vicinity, despite its good location�
2. 2012 to 2013, the property prices have already run up by >40%, at�1800 to 2000pfs, it will have near zero upside bec her better brothers and sisters of similar sized units would have to trade>2200pfs and that will already be a big ask
3. There are so many mickey units developments�at nearby river valley, it would be tough competing for tenants�
�
Even if u have bought at ur planned 1700+ pfs, no way it can hit 2500pfs in 4 years even with mrt. because other better condos will have to hit close to 3000pfs and u are not even at centre of orchard road.
�
As for alex residences, not easy for those who bought high floor units at>2000pfs to find upside. Its a 99LH and there are many condos coming up at redhill mrt vicinity and mickey mouse units galore there
�
rental 2.5 to 3k
�
In town or CBD, easier to understand but other areas, wondering how to find so many singles to rent mickey units
�
�men anI'll take you up on that monopoly game�
�
Anyway I'll give a brief example of how I would approach this by using this studio I was looking at previously in 2012 or 2013 which I believe is a better investment over Alex Residence
�
http://www.propertyg...sale-mill-point
�
Advantages�
- 999 years
- Situated opposite Great World & near Hawker Centre
- Upcoming MRT directly opposite 2 stops away from orchard and direct link to Downtown station
- Attracts young professionals
- 2 parking lots per unit (tons of parking)�
- Decent facilities (pool is not bad, gym also okay)
- Great layout hardly any wastage
�
Cons
- No school nearby (no issue cause families don't rent this anyway)
- Near Long Kang (also not that near also)
- Less facilities
- Traffic's abit dicey sometimes
�
Decided it was still overpriced because the agent advise rental could be about 3.8k but after checking it seem this was heng xuay (realistically more like 3k IMO at the time) and truly enough for unit this size it is now at 2.7k transacted.
�
Also my target exit price was hopefully 1.3M after MRT was built (about 2.46k psf) which at the time the seller wanted 1.1M giving me a maybe profit of 200k if all went well, too little profit for all the potential risk I need to hold from then till now.
�
For investment my entry price would be about 1.7k psf or much less (900k or less) after factoring various risk vs payoff. Not to mention 1 bedder are higher risk and the prices are the first to get depressed the most during a downtown.
�
Given the above I wouldn't consider Alex Residence at 1.8k psf, then again I can't say what my entry/exit price is either cause I've yet to review the area and what potential benefits it will bring. Bearing in mind the area will have no new mrts/transits to my knowledge so really all the good stuff is already priced in, I don't see much upside because of that and location don't really impress too much either.
�
Hi Bro, thanks for reverting with your views, haha got collect 200 from throttle when you pass go or not?
�
Lemme roll the dice now
�
I've penciled my points on your analysis, just my views anyway no right/wrong.
�
1. The condo is a poor sister in the vicinity, despite its good location
�
- Only a few developments were near the future mrt entrances have small units mainly Zenith and Mill point. The latter would be the better of the two developments. Admit ably the location of these development would be considered less prime compared to the ones opposite (i.e trillium) but its reflected on the pricing if comparing like sized units.
�
2. 2012 to 2013, the property prices have already run up by >40%, at 1800 to 2000pfs, it will have near zero upside bec her better brothers and sisters of similar sized units would have to trade>2200pfs and that will already be a big ask
�
- Agreed the current ask price then was definitely over so I have it a pass
�
- Below is a diagram of the developments I can find with smaller units in the area (i.e <700 sq feet) that are close to the MRT (which developments are you comparing against? Don't mind can list a couple so I can also take a look from your perspective on the comparative developments?)
�
- If the economy was doing decently and the MRT comes up I believe it can reach or cross the 2.4k threshold. With these mickey units buyers are normally attracted by overall quantum as opposed to psf. But I stress to all readers this is a personal take which I also want to see tested once the mrt is launched. But I do believe rental demand would go up at a minimum compared to other developments having the proximity to the MRT and the shopping center, a young singletons dream haha.
�
3. There are so many mickey units developments at nearby river valley, it would be tough competing for tenants�
- The only thing I'll raise is that the attractiveness is the mrt proximity and shopping centre. As above besides the two developments mentioned I don't see others with small units this close to the station.
�
One other reason why decided not to go on was at the time could see dark clouds arising plus the not so attractive yield (and consume war chest funds). I would still consider it again pending on situation/pricing in the future.
�
Developments <700 sq feet transacted in last 24 months 1 km from Millpoint
Legend 1,2,3 are the mrt entrances if I recall correctly, Y = Zenith, Purple dot = Mill Point.
(Similar from ppty guru)
�
Hi Bro, OK�my turn for the game�
�
Thanks for sharing ur thoughts and reasoning.
Good that u did not pick up the unit
�
Even with a roll of the dice and I landed in millpoint, I wont consider buying
�
because:
�
1. The condo is a poor sister�in the vicinity, despite its good location�
2. 2012 to 2013, the property prices have already run up by >40%, at�1800 to 2000pfs, it will have near zero upside bec her better brothers and sisters of similar sized units would have to trade>2200pfs and that will already be a big ask
3. There are so many mickey units developments�at nearby river valley, it would be tough competing for tenants�
�
Even if u have bought at ur planned 1700+ pfs, no way it can hit 2500pfs in 4 years even with mrt. because other better condos will have to hit close to 3000pfs and u are not even at centre of orchard road.
�
As for alex residences, not easy for those who bought high floor units at>2000pfs to find upside. Its a 99LH and there are many condos coming up at redhill mrt vicinity and mickey mouse units galore there
�
rental 2.5 to 3k
�
In town or CBD, easier to understand but other areas, wondering how to find so many singles to rent mickey units
�
Here in property thread, people do not shout Up & Down
only intellectual discussions
Of course such discussions tend to be long
Also needs new players like the coe threads
If not every few pages will see the usual Yawn & Drum roll
Good useful information
But need to caution that such yields are affected by the composition of the unit sizes
condos like alexis are composed mainly of super mickey mouse units so yiled will be high compared to those with 30-50% big size units
Thanks bro, the article just for reference guide, FH or 999
I also beg to differ, investors looking for yield, should also look at 99, lower quantum, higher yield?Attached Thumbnails
Very sad, you all don't read my post.
I re-post again.
Lastly, I re-iterate the point that the property cooling measures seem to lose its effectiveness, as far as the properties in the prime area are concerned, as the PPI for the CCR has risen for 2 consecutive quarters. For RCR, the PPI has risen for 1 quarter.
It remains to be seen if this rise has a spillover effect to the overall private property market. Let's watch out for the flash estimate of the 3rd Qtr release of the PPI to get a better sensing.
Always enjoy reading your posts, with true facts and data...no BS
So keep them coming!
http://www.theedgepr...s-24-mil-profit
"In the landed segment, a detached house on Jalan Lateh fetched a profit of $6.7 million on Aug 15. The property, which sits on an 11,022 sq ft site, was held for 10 years before it was resold at $862 psf on land area. The seller had purchased it in April 2006 at $254 psf."
Bought 2.8 mil, enjoy the property, sold at 9.5 mil, more than 3X what he paid for.
All in just a short span of 10 years, profit 6.7 mil.
This is the true guru, you are my hero
Yeah me hope so too..that economy will get better.
Not just for the sake of the property market, do not wish to see blood on the streets.
Hope all get to keep their jobs, earn a living, feed the family, you know what I mean.
Everybody huat ah!
http://www.straitsti...f-spore-economy
A clear idea of Singapore economy
Aug 27, 2016
Singapore has experienced negative headline inflation for 21 straight months now, but this does not mean it is getting cheaper to eat at hawker centres or shop at the supermarket.
Overall consumer prices fell 0.7 per cent last month from a year earlier, thanks largely to cheaper cars, lower utility bills and steep Great Singapore Sale discounts.
Budget measures and other one-off programmes - including medical subsidies under the Pioneer Generation Package and the reduction in the concessionary foreign domestic worker levy - also had a part to play in keeping a lid on price increases.
However, prices elsewhere in the economy continued to edge upwards. Food was 2.1 per cent pricier last month compared with the same month a year ago. The cost of household durables and services also went up, increasing 3.2 per cent.
As a result, core inflation - which strips out accommodation and private road transport costs to better gauge everyday expenses - ticked up 1 per cent last month from a year ago. Government and private sector economists expect core inflation to hold steady or inch upwards over the rest of the year.
They expect oil prices to recover, and the year-on-year impact of government programmes and subsidies to fade. However, another contributing factor is business costs, especially wages. These are still high despite the slowing economy and the perennial concern of flagging productivity.
Still, what is clear is that Singapore is not facing deflation. Although the official forecast is for inflation to remain negative throughout the year, the fall in prices has not been broad-based. This is in contrast to previous prolonged price declines that accompanied the 2008, 2001 and 1998 recessions, when prices were dragged down by a broad fall in demand.
Deflation indicates a chronic lack of demand across an economy, and is often accompanied by falling wages and asset prices, plus an economic recession. This is why the term "negative inflation" is a better description of current price developments.
The rich gets richer.
Bought 2.8 mil, enjoy the property, sold at 9.5 mil, more than 3X what he paid for.
All in just a short span of 10 years, profit 6.7 mil.
This is the true guru, you are my hero
Thats y the rich only gets richer
recession allow them to "sapu" everything cheaply
booming time allow them to sell sky high
huat ah!
again back to the fundamental question - war chest to win the war !
Edited by Wt_know, 29 August 2016 - 08:40 AM.
That's why the Govt has learned it well.
�
Keep luxury goods prices high and essential goods prices low during difficult periods like recession. This is the only way to prevent income gap from widening.�
�
�
richies like recession as much as they like booming time
recession allow them to "sapu" everything cheaply
booming time allow them to sell sky high
huat ah!
again back to the fundamental question - war chest to win the war !�
Thats y the rich only gets richer
�
�
Either way, the rich gets to laugh to the banks ...
�
For normal peasant, like me, I just hope to get enough $ to retire early and comfortably :)
seems like quite a few industry insiders (or agents) here
donny t2 1 against 10....
Không có nhận xét nào:
Đăng nhận xét