mycarforum: Private property prices... Up or Down? part 30

prop funds will just follow where the yields/ returns are

�

when SG turns cheap relative to other markets they will be back, no worries there.

�

Many are in fact already watching SG, ready to buy end 2016 or 2017.

�

the biggest problem r d CMs, without a healthy subsale n resale mkt, upside is v limited

There are always a counter reports from somewhere of those who have vested interest.

�

CNA : Empty offices and falling rents spell further gloom for landlords.

�

My opinions only -�we are in the exact position�where the Govt wants.

�

The volumes are very thin as only those who need to buy and those who need to sell can transact. This prevents foreigners from profiting from the transactions as sellers�or investors, prevents speculators without the means to support the purchase from entering, but also do not shut out locals who can figure out what to do as a Singaporean first strategy. It's definitely more friendly than the run up phase from 2008-2013 where prices keep running away.

�

For more indications of what outcome(s) the Govt is exactly aiming for, I think we will soon get an update, likely on 24 March. My opinions only. Even if they remain�silent on this, they�will�be sending a�loud and clear message.�

�

the biggest problem r d CMs, without a healthy subsale n resale mkt, upside is v limited

�

Edited by Showster, 03 February 2016 - 11:48 AM.

the biggest problem r d CMs, without a healthy subsale n resale mkt, upside is v limited

�

Cms not really of a concern to the direct real estate funds. most will purchase prime commercial, industrial etc

�

residential not so much unless there is a deep discount that can justify an opportunistic play. we're not anywhere near there yet

Cms not really of a concern to the direct real estate funds. most will purchase prime commercial, industrial etc

�

residential not so much unless there is a deep discount that can justify an opportunistic play. we're not anywhere near there yet

�

it is a big concern especially for GLS coz less bidders means garmen earn less & also nearby prices dont go up as much.

�

i cant say names but im talking abt major resi developers who were active last time moving $ elsewhere for resi investment.

�

D9 & D10 many cheap places liao not moving coz of d CMs. look at the caveats lodged

Edited by Duckduck, 03 February 2016 - 03:27 PM.

it is a big concern especially for GLS coz less bidders means garmen earn less & also nearby prices dont go up as much.

�

i cant say names but im talking abt major resi developers who were active last time moving $ elsewhere for resi investment.

�

D9 & D10 many cheap places liao not moving coz of d CMs. look at the caveats lodged

�

well, i won't complain about GLS, land price need to come down in a huge way before anything can change in the market.

�

major resi developers have been looking to move out of SG since 2010. Everyone knew that land price was out of whack. And with the intense competition, they knew either they play a dangerous game or they dont play at all. And unfortunately some have to pay for a painful lesson that investing overseas is not so smooth like in SG

Govt past few years pumped Billions into SG's infrastructure.

Next 5years will see continuation of Billions in SG's infrastructure build up.

If no CMs, our Property appreciation would be Crazy by now or come 2020. Risky Bubbles indeed.

�

2016/7 good window to buy if TDSR allows.

Next 10years will reap Huge rewards after all the Infra Up & running.

�

:wub:

�

Govt past few years pumped Billions into SG's infrastructure.
Next 5years will see continuation of Billions in SG's infrastructure build up.
If no CMs, our Property appreciation would be Crazy by now or come 2020. Risky Bubbles indeed.

2016/7 good window to buy if TDSR allows.
Next 10years will reap Huge rewards after all the Infra Up & running.

Plse lah since when have we not pumped billions every year into infrastructure?
Who you trying to smoke?

Muayhahahaha

Singapore uses fiscal policy in comparison to other countries like US that uses more of monetary policy to drive or spur the economy

Patience.

Edited by Throttle2, 03 February 2016 - 10:12 PM.

Govt will relook property cooling measures when risks are 'less or manageable': Shanmugam

Mr Shanmugam said the Finance and National Development ministers would relook the policies when they deemed the risks to be "less or manageable".PHOTO: BERITA HARIAN

Published

3 hours ago

�

SINGAPORE - The Government will relook the property cooling measures when the risks are "less or manageable", Home Affairs and Law Minister K Shanmugam said on Wednesday (Feb 3).

Mr Shanmugam, who fielded questions at a dialogue with property agents at a conference held by ERA Realty, was asked when the Government would lift property market cooling measures.

He would only say: "We have a rough idea of when to change, but that doesn't mean that we announce it."

�

Cooling measures such as the Additional Buyer's Stamp Duty and Total Debt Servicing Ratio aim to prevent systemic risk in the banking system, avoid the danger of the property market overheating and crashing, and protect Singaporeans, said Mr Shanmugam, who also observed that he was not in a position to make such announcements unilaterally.

When the Finance and National Development ministers judge that the risks are "less or manageable", then they will relook the policies, he added.

�

Govt will relook property cooling measures when risks are 'less or manageable': Shanmugam

Mr Shanmugam said the Finance and National Development ministers would relook the policies when they deemed the risks to be "less or manageable".PHOTO: BERITA HARIAN

Published3 hours ago

SINGAPORE - The Government will relook the property cooling measures when the risks are "less or manageable", Home Affairs and Law Minister K Shanmugam said on Wednesday (Feb 3).
Mr Shanmugam, who fielded questions at a dialogue with property agents at a conference held by ERA Realty, was asked when the Government would lift property market cooling measures.
He would only say: "We have a rough idea of when to change, but that doesn't mean that we announce it."

Cooling measures such as the Additional Buyer's Stamp Duty and Total Debt Servicing Ratio aim to prevent systemic risk in the banking system, avoid the danger of the property market overheating and crashing, and protect Singaporeans, said Mr Shanmugam, who also observed that he was not in a position to make such announcements unilaterally.
When the Finance and National Development ministers judge that the risks are "less or manageable", then they will relook the policies, he added.

Got say as good as no say.....heeheh.

http://www.propertyg...sold-for-855000

DBSS flat sold for $855,000
February 3, 2016

A five-room flat at City View Boon Keng has been resold for $855,000, making it the first unit to be sold at the Design, Build and Sell Scheme (DBSS) project, reported My Paper, citing Housing Board records.

They purchased the unit for $627,000 back in 2008 during the launch of the project.

Prices for the three- to five-room units ranged between $349,000 and $727,000, prompting concerns that the units were overpriced by public housing standards.

However, property experts believe that investment into the project will pay off.

Commenting on the said transaction, Chris Koh, Director of property consultancy Chris International, said: �Despite having paid a premium, the fact that they can walk away with a profit of one-third the launch price in today�s sluggish resale market is not bad.�

And with more units expected to enter the market soon, PropNex agent James Lim expects resale prices for the project to breach the million-dollar mark, much like at Pinnacle, partly due to its city-fringe location.

http://business.asia...pite-absd-study

Singapore still cost competitive for luxury home buys despite ABSD: Study
The Business Times Tuesday, Feb 02, 2016

EVEN after factoring in the hefty additional buyer's stamp duty (ABSD) of 15 per cent on foreign property buyers, Singapore is still cost competitive compared to London and Sydney for luxury home purchases.

Given the divergence of price trends between Singapore and the other two gateway cities London and Sydney, Knight Frank Singapore executive director Tay Kah Poh felt that value has emerged for Singapore's residential market, even after accounting for tax.

Ms Tan noted that prices of high-end homes have trended down to a "sweet spot", which offers the prospect of potential capital gains in the medium to long term as the government rolls out a series of economic plans for Singapore in the long term.

One reassuring sign has been a gradual paring down of unsold inventory in Singapore's CCR. Of the nearly 25,000 unsold units islandwide as at end-2015, some 26 per cent are located in the CCR.

"By 2019, there will be no new supply of completed homes in the CCR location," Ms Tan said.

saw shanmugam on tv addressing a big group of property agents. �didn't listen carefully but thought I heard him saying something about ABSD and Singapore banks will not be like US banks in 2008 ??? �Seems like the G wants to remove ABSD?

�

btw, why is the home affairs AND law ministar addressing prop agents???

saw shanmugam on tv addressing a big group of property agents. �didn't listen carefully but thought I heard him saying something about ABSD and Singapore banks will not be like US banks in 2008 ??? �Seems like the G wants to remove ABSD?

�

btw, why is the home affairs AND law ministar addressing prop agents???

�

Don't you know prop agents are professionals?? ANd also regulated like any other professional bodies

�

And the top earners in the industry definitely can have enough dignity to look shanmugam in the eye

�

[laugh]

He did not say Govt wants to remove ABSD.

�

He says that we "Law Ministry?" will not or cannot announce it.

�

"We have a rough idea of when to change, but that doesn't mean that we announce it."

�

So who can announce it? The stance of the Govt will only be made totally clear by one or two�persons of the relevant ministry or authority, even though we start to have an MP pushing for it and a Minister acknowledging the re-assessment of risks.

�

There is a sizeable number of people who has been waiting since 2009, if they have not re-channeled the funds into cars or stocks or overseas properties. This is joined by the group who got their HDBs from�2008 till 2011 whose flats have MOP. All in the meantime have grown�and compounded their CPF.�The arbitrage gap is huge and the Govt cannot be fully certain of their actions (and the degree) if the CMs are relaxed, and especially if it is fully relaxed.

�

We can only be patient and wait for clearer indications.

�

saw shanmugam on tv addressing a big group of property agents. �didn't listen carefully but thought I heard him saying something about ABSD and Singapore banks will not be like US banks in 2008 ??? �Seems like the G wants to remove ABSD?

�

btw, why is the home affairs AND law ministar addressing prop agents???

�

Edited by Showster, 04 February 2016 - 09:28 AM.

He did not say Govt wants to remove ABSD.

He says that we "Law Ministry?" will not or cannot announce it.

"We have a rough idea of when to change, but that doesn't mean that we announce it."

So who can announce it? The stance of the Govt will only be made totally clear by one or two persons of the relevant ministry or authority, even though we start to have an MP pushing for it and a Minister acknowledging the re-assessment of risks.

There is a sizeable number of people who has been waiting since 2009, if they have not re-channeled the funds into cars or stocks or overseas properties. This is joined by the group who got their HDBs from 2008 till 2011 whose flats have MOP. All in the meantime have grown and compounded their CPF. The arbitrage gap is huge and the Govt cannot be fully certain of their actions (and the degree) if the CMs are relaxed, and especially if it is fully relaxed.

We can only be patient and wait for clearer indications.

Talk bird language...

did K say this?

did he mean sporeans are fcking rich and G is worried what they do with their money once unleashed? [laugh]

�

There is a sizeable number of people who has been waiting since 2009, if they have not re-channeled the funds into cars or stocks or overseas properties. This is joined by the group who got their HDBs from�2008 till 2011 whose flats have MOP. All in the meantime have grown�and compounded their CPF.�The arbitrage gap is huge and the Govt cannot be fully certain of their actions (and the degree) if the CMs are relaxed, and especially if it is fully relaxed.

�

Edited by Wt_know, 04 February 2016 - 09:54 AM.

Don't you know prop agents are professionals?? ANd also regulated like any other professional bodies

�

And the top earners in the industry definitely can have enough dignity to look shanmugam in the eye

�

�

Rather, i find it comforting to note that our law minister has enough dignity to talk to property agents

�

Rather, i find it comforting to note that our law minister has enough dignity to talk to property agents

�

�

yeah shanmugam is one of the few good ministers to not dog's eyes see man down

http://business.asia...pite-absd-study

"By 2019, there will be no new supply of completed homes in the CCR location," Ms Tan said.

�

Yeap - Start looking in 2018....

�

Now time to strike that $1K COE first.

�

for the kaypoh, agent income was shared during the conference as well

�

generally 2015 saw more earnings than 2014.�

�

top 300 - at least $200k

�

top 100 - $300k

�

top 50 - $400k

�

top 60 - $600k

�

top 10 - $700k

�

top 3 - $1.1m

wah smelly smelly $200k to $1.1M ... good job Wyfitms

nabei ... all shout sibei charm but make more money ... hehe

time to buy porky and gold rolie ... [thumbsup]

Edited by Wt_know, 04 February 2016 - 10:40 AM.

era.jpg

�

for the kaypoh, agent income was shared during the conference as well

�

generally 2015 saw more earnings than 2014.�

�

top 300 - at least $200k

�

top 100 - $300k

�

top 50 - $400k

�

top 60 - $600k

�

top 10 - $700k

�

top 3 - $1.1m

�

individual take home incomes or total commissions to be shared with company, downlines etc?

�

individual take home incomes or total commissions to be shared with company, downlines etc?

�

individual share

�

i hearsay other agencies like huttons even higher for top earners

Govt past few years pumped Billions into SG's infrastructure.

Next 5years will see continuation of Billions in SG's infrastructure build up.

If no CMs, our Property appreciation would be Crazy by now or come 2020. Risky Bubbles indeed.

�

2016/7 good window to buy if TDSR allows.

Next 10years will reap Huge rewards after all the Infra Up & running.

�

�

So how many you going to buy in 2016/2017?

sure take home la ...

$200k where got enough to share with company and simi downlines

�

individual take home incomes or total commissions to be shared with company, downlines etc?

�

Edited by Wt_know, 04 February 2016 - 11:08 AM.

era.jpg

for the kaypoh, agent income was shared during the conference as well

generally 2015 saw more earnings than 2014.

top 300 - at least $200k

top 100 - $300k

top 50 - $400k

top 60 - $600k

top 10 - $700k

top 3 - $1.1m

So low meh? Trying to bluff IRAS lah

Of course they show top three $1.1mil lah
Who dare to show that they higher than the Minister himself?
Muayhhahahaa

Edited by Throttle2, 04 February 2016 - 11:31 AM.

i also say so ... make $250k just say $200k ... at least detuned 25% ...

otherwise, how do call himself herself million dollar club ... lol

the top 3 at least detuned 50% ... lol

�

So low meh? Trying to bluff IRAS lah

Of course they show top three $1.1mil lah
Who dare to show that they higher than the Minister himself?
Muayhhahahaa

�

Edited by Wt_know, 04 February 2016 - 11:36 AM.

Top 50 is $400k
But top 60 is $600k?

Should be top 30, i think.

Wyfitms, report properly leh.

Muayhahaha

yeah shanmugam is one of the few good ministers to not dog's eyes see man down

�

more like garmen has no idea who does what better so now they overlap each other's job scopes.

�

WTF is lawrence wong? another puppet?�

Income not profit.
200k income.
50-60k costs.
140k real income.
No leave, benefits and pay increments.
Confirmed a lot more stressed.
Who wants?

So low meh? Trying to bluff IRAS lah

Of course they show top three $1.1mil lah
Who dare to show that they higher than the Minister himself?
Muayhhahahaa

�

must show face to guest of honour�

�

i know it's very low based on your standards

Income not profit.
200k income.
50-60k costs.
140k real income.
No leave, benefits and pay increments.
Confirmed a lot more stressed.
Who wants?

�

yeah, tough job man... marketing costs these days so painful

Top 50 is $400k
But top 60 is $600k?

Should be top 30, i think.

Wyfitms, report properly leh.

Muayhahaha

�

dont read too much into my numbers, all bull shi t one lah

Govt will relook property cooling measures when risks are 'less or manageable': Shanmugam

Mr Shanmugam said the Finance and National Development ministers would relook the policies when they deemed the risks to be "less or manageable".PHOTO: BERITA HARIAN

Published3 hours ago

SINGAPORE - The Government will relook the property cooling measures when the risks are "less or manageable", Home Affairs and Law Minister K Shanmugam said on Wednesday (Feb 3).
Mr Shanmugam, who fielded questions at a dialogue with property agents at a conference held by ERA Realty, was asked when the Government would lift property market cooling measures.
He would only say: "We have a rough idea of when to change, but that doesn't mean that we announce it."

Cooling measures such as the Additional Buyer's Stamp Duty and Total Debt Servicing Ratio aim to prevent systemic risk in the banking system, avoid the danger of the property market overheating and crashing, and protect Singaporeans, said Mr Shanmugam, who also observed that he was not in a position to make such announcements unilaterally.
When the Finance and National Development ministers judge that the risks are "less or manageable", then they will relook the policies, he added.

Confirm one la, economy now is getting quite jia lat, sure will remove some cooling measures. They have a rough idea when to remove some but that doesn't mean they will announce it. It probably means will see how the economy progress for next few months, is it getting worst or getting better, if getting worst they will wait for the right time around recession time and announce lor. If economy getting better they will not touch the cooling measures and stay as it is lor. That's what I think will happen.

Edited by Yewheng, 04 February 2016 - 04:03 PM.

http://www.propertyg...sold-for-855000

DBSS flat sold for $855,000
February 3, 2016

A five-room flat at City View Boon Keng has been resold for $855,000, making it the first unit to be sold at the Design, Build and Sell Scheme (DBSS) project, reported My Paper, citing Housing Board records.

http://www.theedgepr...old-900000-2016
JUST SOLD: First Bishan flat sold at $900,000 in 2016
By Tan Chee Yuen / The Edge Property | February 4, 2016 4:18 PM MYT

era.jpg

http://www.propertyg...crash-shanmugam

Govt won�t let property market crash: Shanmugam :grin:

Romesh Navaratnarajah � February 4, 2016

The government has a �rough idea� on when to revise the property cooling measures, �but that doesn�t mean that we announce it�, said Home Affairs and Law Minister K. Shanmugam.

He noted that while some people are worried that the property market could go the other way, the government will ensure this doesn�t happen.

�We cannot have a healthy economy if the property market has crashed. So it�s not in anybody�s interest to see it crash.�

more like garmen has no idea who does what better so now they overlap each other's job scopes.

�

WTF is lawrence wong? another puppet?�

�

LW is not Ah Shan, he is not KBW and is not even MBT. He is more like RL.

LW is not Ah Shan, he is not KBW and is not even MBT. He is more like RL.

49cdc16ab8784f649e24a77b3c072dba902ec6da

must show face to guest of honour

i know it's very low based on your standards

Plse lah i jobless no income.
Even top 1000 is very high compared to me

era.jpg

�

for the kaypoh, agent income was shared during the conference as well

�

generally 2015 saw more earnings than 2014.�

�

top 300 - at least $200k

�

top 100 - $300k

�

top 50 - $400k

�

top 60 - $600k

�

top 10 - $700k

�

top 3 - $1.1m

�

So how much would the rest of the 25k agents in sg earn? hahah.. sometimes these are just so misleading to the public. Doesn't reflect e true nature. Will just make the gullible ones go, "wow, I shd quit my job and join this�industry now!"

�

Another thing, sorry but not sorry to say, after having gone through the experiences, I have much difficulty in trusting sales pple, be it housing agent, and�especially insurance agents. haizzz. as far as possible, ill try to do everything myself.. haha

So how much would the rest of the 25k agents in sg earn? hahah.. sometimes these are just so misleading to the public. Doesn't reflect e true nature. Will just make the gullible ones go, "wow, I shd quit my job and join this�industry now!"

�

Another thing, sorry but not sorry to say, after having gone through the experiences, I have much difficulty in trusting sales pple, be it housing agent, and�especially insurance agents. haizzz. as far as possible, ill try to do everything myself.. haha

�

nothing misleading. i said top 300. didnt say average

�

That's about top 5% of ERA. Job is hard, lotsa of work to be done. there will always be gullible people who think they can come in shake leg and collect 200k a year� [laugh]

�

if an agent cannot work hard and smart enough to make at least 200k, then i would say forget it, go and do something else.

�

and you are right, should never trust a sales person's opinion. do your own research and form your own opinion.

�

sale guy is just there to facilitate the process and handle paper work. that's all. I also buy, sell and lease on my own. And i recommend that to anyone who ask me.

�

gong xi fa cai!

facilitate process and do paper work to make $200k (minimum)
that's unreasonable leh ... property agent should have the know-how like in any industry and offer the "best" advice to seller/buyer based on their need and budget
it's like a doctor giving advice to patient
do paper work to command $200k income ... a clerk can do paper work leh
pay hefty commission and user still must do homework and research to compare prices, trends, pro and con of each property, what's good bad and potential, etc - might as well go take agent exam! lol

Edited by Wt_know, 05 February 2016 - 09:54 PM.

allow me to chip in.

�

my stand is not about up or down , but what this guy said makes lots of sense

�

Condominiums in Singapore.

While the government will continue to help Singaporeans own homes and have put measures in place to protect first-time buyers from a hot housing market, they must have a realistic pathway to achieving their aspirations, said Home Affairs and Law Minister K. Shanmugam.

During a dialogue session with over 2,000 property agents from ERA Realty on Wednesday (3 Jan), the minister recalled how a 28-year-old Presidents Scholar had lamented to him about not being able to afford a private property in Katong, despite his many achievements.�� :secret-laugh: � :grin: � :grin: ��

These are unrealistic aspirations for someone whos only in his 20s, said the minister. He noted that Singaporeans can afford to purchase property based on income levels, and have the option of buying private property, but they need to start somewhere, he said in reference to those eager to move up the property ladder.

Properties in Tanjong Katong are generally more expensive compared to other areas in the East, due to their prime location and accessibility to good amenities.

One of the more recent project launches in the neighbourhood is Amber Skye, a 109-unit condominium which was relaunched in March 2015 at an indicative price range of $1,680 psf to $2,500 psf.

Owning a condominium in Singapore is seen as a dream among many Singaporeans, as it is one of the 5Cs, with the other aspirations being a car, country club membership, cash and credit cards.

Despite this, Eugene Lim, Key Executive Officer at ERA Realty, has observed that fewer HDB dwellers are now jumping straight into buying private property.

Instead, he is now seeing a trend of a fair amount of buyers upgrading to larger flat types since the second half of last year. For instance, there are more four-room HDB flat owners shifting to five-room flats and executive flats.

The trend of moving to larger private properties is constrained by the Total Debt Servicing Ratio (TDSR), he said.

Introduced in June 2013, the TDSR limits the amount of a borrowers gross monthly income that can be spent on debt repayments to 60 percent.

This has severely impacted private property sales in recent years, with transactions down to about 14,000 units in 2015 compared to around 38,000 in 2012 before the measure was introduced, revealed statistics from the Urban Redevelopment Authority (URA).

�

Edited by Staff69, 05 February 2016 - 09:58 PM.

Feng Shui talk [grin]

Which way will home prices swing in the Year of the Monkey?
http://www.theedgepr...ing-year-monkey

As the world ushers in the Fire Monkey on Feb 8, The Edge Property teams up with two feng shui consultants to gather alternative insights into the property market.

Mischievous in nature, this creature has taken the property market on a wild ride. In previous years of the Monkey, private home prices had swung as high as 88% in 1980, risen 16% in 1992 and 1% in 2004.

Datuk Joey Yap of Joey Yap Pte Ltd says: �We may attempt to study the performance trends of the real estate market of Singapore by first understanding its elemental relationships in the year of the Fire Monkey. [As] the real estate sector belongs to the Earth element, it favours the Water element, which represents its wealth prospects. As such, the presence of a hidden water element in 2016 may suggest the possibility of nominal improvements for real estate in Singapore.�

Based on astrological trends, property prices might stabilise in the Year of the Rooster in 2017. The past three Rooster cycles had witnessed an uptrend in private home prices � 35% in 1981, 36% in 1993 and 4% in 2005.

The years of the Dog and Pig have been similarly marked by rising property prices in the past three cycles. Drawing from this pattern, prices of private homes could start to show signs of recovery as early as 2017, and pick up in the years of the Dog (2018) and Pig (2019).

�Uptrends in the property market may be observed in years that are related to the water element, such as those of the Pig and Dragon. On the other hand, this sector is unlikely to record favourable performance trends in years dominated by strong Fire and Earth elements, such as the recent years of the Horse, Goat and Ox [because] Water is dried up by the intense Fire or countered by excessive Earth elements,� Yap says.

Attached Thumbnails

I believe in statistics and probability.

�

Law of averages indicates that the next Monkey year is likely to be down after 3 up....

The next likely "up" would be Year of the Rat ie 2020, Ox (2021) and Tiger (2022).�(all so far 2 downs, 1 up)

�

Buy in 2019 and wait.,� Huat ah!

�

Edited by Volvobrick, 06 February 2016 - 01:27 AM.

nothing misleading. i said top 300. didnt say average

That's about top 5% of ERA. Job is hard, lotsa of work to be done. there will always be gullible people who think they can come in shake leg and collect 200k a year

if an agent cannot work hard and smart enough to make at least 200k, then i would say forget it, go and do something else.

and you are right, should never trust a sales person's opinion. do your own research and form your own opinion.

sale guy is just there to facilitate the process and handle paper work. that's all. I also buy, sell and lease on my own. And i recommend that to anyone who ask me.

gong xi fa cai!

Haha sorry bro, i didnt mean that u mislead ppl. E info is public info anyway. Im just saying figs presented shd b holistic, if not, can b misleading and hopefully, readers r discerning enuff to realise this.

Happy lunar new year!

allow me to chip in.

my stand is not about up or down , but what this guy said makes lots of sense

Condominiums in Singapore.
While the government will continue to help Singaporeans own homes and have put measures in place to protect first-time buyers from a hot housing market, they must have a realistic pathway to achieving their aspirations, said Home Affairs and Law Minister K. Shanmugam.
During a dialogue session with over 2,000 property agents from ERA Realty on Wednesday (3 Jan), the minister recalled how a 28-year-old Presidents Scholar had lamented to him about not being able to afford a private property in Katong, despite his many achievements.
These are unrealistic aspirations for someone whos only in his 20s, said the minister. He noted that Singaporeans can afford to purchase property based on income levels, and have the option of buying private property, but they need to start somewhere, he said in reference to those eager to move up the property ladder.
Properties in Tanjong Katong are generally more expensive compared to other areas in the East, due to their prime location and accessibility to good amenities.
One of the more recent project launches in the neighbourhood is Amber Skye, a 109-unit condominium which was relaunched in March 2015 at an indicative price range of $1,680 psf to $2,500 psf.
Owning a condominium in Singapore is seen as a dream among many Singaporeans, as it is one of the 5Cs, with the other aspirations being a car, country club membership, cash and credit cards.
Despite this, Eugene Lim, Key Executive Officer at ERA Realty, has observed that fewer HDB dwellers are now jumping straight into buying private property.
Instead, he is now seeing a trend of a fair amount of buyers upgrading to larger flat types since the second half of last year. For instance, there are more four-room HDB flat owners shifting to five-room flats and executive flats.
The trend of moving to larger private properties is constrained by the Total Debt Servicing Ratio (TDSR), he said.
Introduced in June 2013, the TDSR limits the amount of a borrowers gross monthly income that can be spent on debt repayments to 60 percent.
This has severely impacted private property sales in recent years, with transactions down to about 14,000 units in 2015 compared to around 38,000 in 2012 before the measure was introduced, revealed statistics from the Urban Redevelopment Authority (URA).

Can't agree more that one has to be more realistic when it comes to big ticket items unless got sugar mummy or daddy. The same applies for some graduates, when they come out from school, already expect that they should have a car.

Our forefathers didn't have it so easy and worked their asses, some of the new generation just expect aircon workplaces and wait of 5 min for fast food is very long.

Patience is the mother of all training man.

allow me to chip in.

�

my stand is not about up or down , but what this guy said makes lots of sense

�

Condominiums in Singapore.

While the government will continue to help Singaporeans own homes and have put measures in place to protect first-time buyers from a hot housing market, they must have a realistic pathway to achieving their aspirations, said Home Affairs and Law Minister K. Shanmugam.

During a dialogue session with over 2,000 property agents from ERA Realty on Wednesday (3 Jan), the minister recalled how a 28-year-old Presidents Scholar had lamented to him about not being able to afford a private property in Katong, despite his many achievements.��

These are unrealistic aspirations for someone whos only in his 20s, said the minister. He noted that Singaporeans can afford to purchase property based on income levels, and have the option of buying private property, but they need to start somewhere, he said in reference to those eager to move up the property ladder.

Properties in Tanjong Katong are generally more expensive compared to other areas in the East, due to their prime location and accessibility to good amenities.

One of the more recent project launches in the neighbourhood is Amber Skye, a 109-unit condominium which was relaunched in March 2015 at an indicative price range of $1,680 psf to $2,500 psf.

Owning a condominium in Singapore is seen as a dream among many Singaporeans, as it is one of the 5Cs, with the other aspirations being a car, country club membership, cash and credit cards.

Despite this, Eugene Lim, Key Executive Officer at ERA Realty, has observed that fewer HDB dwellers are now jumping straight into buying private property.

Instead, he is now seeing a trend of a fair amount of buyers upgrading to larger flat types since the second half of last year. For instance, there are more four-room HDB flat owners shifting to five-room flats and executive flats.

The trend of moving to larger private properties is constrained by the Total Debt Servicing Ratio (TDSR), he said.

Introduced in June 2013, the TDSR limits the amount of a borrowers gross monthly income that can be spent on debt repayments to 60 percent.

This has severely impacted private property sales in recent years, with transactions down to about 14,000 units in 2015 compared to around 38,000 in 2012 before the measure was introduced, revealed statistics from the Urban Redevelopment Authority (URA).

�

OMG This is the quality of�Presidents Scholar�we have.

�

We need better�Presidents Scholars

�

Talking to a minister open his mouth

�

and embarrass himself.

�

facilitate process and do paper work to make $200k (minimum)
that's unreasonable leh ... property agent should have the know-how like in any industry and offer the "best" advice to seller/buyer based on their need and budget
it's like a doctor giving advice to patient
do paper work to command $200k income ... a clerk can do paper work leh
pay hefty commission and user still must do homework and research to compare prices, trends, pro and con of each property, what's good bad and potential, etc - might as well go take agent exam! lol

�

doc is to treat illness

�

sales person is to make sales

�

please do not mix up. barrier to entry is low, any clerk who can pass the exam can come and try being an agent� [laugh]

Haha sorry bro, i didnt mean that u mislead ppl. E info is public info anyway. Im just saying figs presented shd b holistic, if not, can b misleading and hopefully, readers r discerning enuff to realise this.

Happy lunar new year!

�

agree with that!� [thumbsup]

i miss the old days when everywhere i drove there was a property showroom to visit n drink free kopi. now theyre totally gone. sign of d times....

allow me to chip in.

�

my stand is not about up or down , but what this guy said makes lots of sense

�

Condominiums in Singapore.

While the government will continue to help Singaporeans own homes and have put measures in place to protect first-time buyers from a hot housing market, they must have a realistic pathway to achieving their aspirations, said Home Affairs and Law Minister K. Shanmugam.

During a dialogue session with over 2,000 property agents from ERA Realty on Wednesday (3 Jan), the minister recalled how a 28-year-old Presidents Scholar had lamented to him about not being able to afford a private property in Katong, despite his many achievements.��

These are unrealistic aspirations for someone whos only in his 20s, said the minister. He noted that Singaporeans can afford to purchase property based on income levels, and have the option of buying private property, but they need to start somewhere, he said in reference to those eager to move up the property ladder.

Properties in Tanjong Katong are generally more expensive compared to other areas in the East, due to their prime location and accessibility to good amenities.

One of the more recent project launches in the neighbourhood is Amber Skye, a 109-unit condominium which was relaunched in March 2015 at an indicative price range of $1,680 psf to $2,500 psf.

Owning a condominium in Singapore is seen as a dream among many Singaporeans, as it is one of the 5Cs, with the other aspirations being a car, country club membership, cash and credit cards.

Despite this, Eugene Lim, Key Executive Officer at ERA Realty, has observed that fewer HDB dwellers are now jumping straight into buying private property.

Instead, he is now seeing a trend of a fair amount of buyers upgrading to larger flat types since the second half of last year. For instance, there are more four-room HDB flat owners shifting to five-room flats and executive flats.

The trend of moving to larger private properties is constrained by the Total Debt Servicing Ratio (TDSR), he said.

Introduced in June 2013, the TDSR limits the amount of a borrowers gross monthly income that can be spent on debt repayments to 60 percent.

This has severely impacted private property sales in recent years, with transactions down to about 14,000 units in 2015 compared to around 38,000 in 2012 before the measure was introduced, revealed statistics from the Urban Redevelopment Authority (URA).

�

What achievements?

�

Passing exams?

�

If he achieved just 1% of what Bill Gates

�

or Mark Zuckerberg achieved he can easily

�

afford to buy private property in Katong.

�

He can even buy landed property in Katong.

�

They are all billionaires right?

�

Achievement is creation of wealth

�

not just administration of it.

�

OMG This is the quality of�Presidents Scholar�we have.

�

We need better�Presidents Scholars

�

Talking to a minister open his mouth

�

and embarrass himself.

�

�

another example of high IQ but low everything else

�

many of these end up as politicians

One of the more recent project launches in the neighbourhood is Amber Skye, a 109-unit condominium which was relaunched in March 2015 at an indicative price range of $1,680 psf to $2,500 psf.

Fren of mine just bought (already collected keys) a 1 bedroom studio at Leonie hill (slightly above) $2k psf (resale/99yr)... which is out of my price range, but does seem not too bad considering the location and the crazy prices ppl are asking for places outside of town... (she was also looking at Keppel Reflections with similar psf, but Reflections location also lose to Leonie)

Why bother with Katong???�

Edited by Mockngbrd, 10 February 2016 - 12:42 PM.

Sorry correction, slightly below 2k psf...

OMG This is the quality of�Presidents Scholar�we have.

�

We need better�Presidents Scholars

�

Talking to a minister open his mouth

�

and embarrass himself.

�

�

i think you just have to look at our president and you can probably guess the standards of the president scholars� [laugh]

Wah lau 28yrs still dont have private property?
How can?
I got my first private property when i was 27yrs old.
Wah, i better than President Scholar leh... Wooohooo

I am just waiting for private property to correct more.... possible with the coming downturn?

I hope I am not dreaming

http://www.straitsti...collective-sale

Balestier Point could be up for collective sale
PUBLISHED FEB 6, 2016, 5:00 AM SGT

The owners of Balestier Point, a mixed-use freehold development incorporating the former Ruby Theatre, are looking at putting it up for collective sale.

The reserve price for the property, comprising a two-storey retail podium with basement and an 18-storey residential block, could be around $250 million to $350 million. This works out to about $1,337 to $1,872 per sq ft per plot ratio (psf/pr).

Balestier Point, which was completed in 1986, has 68 residential and 51 commercial units.

Owners could be motivated to sell, given the above-market premium for their property. A 1,119 sq ft apartment on the ninth floor went for about $1 million or $900 psf last month.

Due to the cutback on residential land offered through the Government Land Sales programme, developers may want to look at collective sales as an alternative source of land. At the end of the day, the most important thing is to bridge sellers' and buyers' expectations," said Mr Desmond Sim, CBRE research head for Singapore and South-east Asia.

Yes, private property prices are correcting since 2013 till now, it is a few percentage points lower each year, on the average, based on the private property index.� The luxury segment (2000 psf) suffered the most, while the mass market (under 1,500 psf) are losing less.

�

2016 will be the consecutive third year that private property prices continue to soften.� This is good, because if the government has not progressively introduced cooling measures over the past few years till 2013, the prices will have skyrocketed, and then crash this year due to a global economy slow-down.

�

http://www.straitsti...collective-sale

Balestier Point could be up for collective sale
PUBLISHED FEB 6, 2016, 5:00 AM SGT

The owners of Balestier Point, a mixed-use freehold development incorporating the former Ruby Theatre, are looking at putting it up for collective sale.

The reserve price for the property, comprising a two-storey retail podium with basement and an 18-storey residential block, could be around $250 million to $350 million. This works out to about $1,337 to $1,872 per sq ft per plot ratio (psf/pr).

Balestier Point, which was completed in 1986, has 68 residential and 51 commercial units.

Owners could be motivated to sell, given the above-market premium for their property. A 1,119 sq ft apartment on the ninth floor went for about $1 million or $900 psf last month.

Due to the cutback on residential land offered through the Government Land Sales programme, developers may want to look at collective sales as an alternative source of land. At the end of the day, the most important thing is to bridge sellers' and buyers' expectations," said Mr Desmond Sim, CBRE research head for Singapore and South-east Asia.

�

That ugly piece of monstrosity shouldn't be worth more than a thousand dollar a foot. Crazy people asking for crazy prices. Give a 10% premium to the latest transacted price and it's still below a thousand dollar a foot� :a-fun:

http://www.straitsti...collective-sale

Balestier Point could be up for collective sale
PUBLISHED FEB 6, 2016, 5:00 AM SGT

The owners of Balestier Point, a mixed-use freehold development incorporating the former Ruby Theatre, are looking at putting it up for collective sale.

The reserve price for the property, comprising a two-storey retail podium with basement and an 18-storey residential block, could be around $250 million to $350 million. This works out to about $1,337 to $1,872 per sq ft per plot ratio (psf/pr).

�

�

I think no developer will want to pay so high for this collective sale.� The property market is softening, and after taking into account construction costs, it is hard to sell the new development at >$1,800 psf even at breakeven prices.�

Battlestar road there always traffic jam

Tiagong Balestier Road area got many women of negotiable virtue.

That ugly piece of monstrosity shouldn't be worth more than a thousand dollar a foot. Crazy people asking for crazy prices. Give a 10% premium to the latest transacted price and it's still below a thousand dollar a foot�

�

But the facade has nothing to do with the enbloc price leh.

�

If they go for enbloc, most likely the dev will tear everything down.

But the facade has nothing to do with the enbloc price leh.

�

If they go for enbloc, most likely the dev will tear everything down.

�

That's exactly my point; The existing building isn't worth much (if at all anything). And perhaps I should phrase it another way so it doesn't cause confusion.

That's exactly my point; The existing building isn't worth much (if at all anything). And perhaps I should phrase it another way so it doesn't cause confusion.

�

owners are asking for the land... not their building, which you have rightly pointed out as worthless�

just now went bishan junction 8 for lunch appt.

Din Tai Fung lotsa people. q

Skyvue showroom...from outside, looked quiet, only 2 cars..

just now went bishan junction 8 for lunch appt.

Din Tai Fung lotsa people. q

Skyvue showroom...from outside, looked quiet, only 2 cars..

�

Bro, Sky Vue selling at too high a price if you ask me.

�

They have a funny strategy, sold the lower floors for a reasonable price (reasonable at launch time comparatively speaking for that location) and keeping the higher floors, hoping to sell at higher prices later but as market have gone down, they reduced abit but still much higher than the lower floors comparatively and thus could only move a few units and as TOP�nears, think they are left with quite a few units but guess being a big developer they refuse to go further down and as Bishan is a good location, they think they can sell eventually.

�

Some units at Sky Habitat still unsold as well.��

Tiagong Balestier Road area got many women of negotiable virtue.

that place caters to ah? type .

the quality just like the place all??? fat fat type and old

Bro, Sky Vue selling at too high a price if you ask me.

�

They have a funny strategy, sold the lower floors for a reasonable price (reasonable at launch time comparatively speaking for that location) and keeping the higher floors, hoping to sell at higher prices later but as market have gone down, they reduced abit but still much higher than the lower floors comparatively and thus could only move a few units and as TOP�nears, think they are left with quite a few units but guess being a big developer they refuse to go further down and as Bishan is a good location, they think they can sell eventually.

�

Some units at Sky Habitat still unsold as well.��

�

Lemme see lemme see... (comparison of all 1 bedders-ish) � Just for fun only la. �(knn all these new condo all dun hav rubbish chute one ah?)

Skyvue (bishan) vs SkyHabitat (bishan) vs Leonie Suites (Orchard Rd/River Valley - D09/10) � am sure got many many other options but just as examples...

all pull from Propkuku�

Skyvue
http://www.propertyg...or-sale-sky-vue

S$ 821,000
S$ 1,696.28 psf
484 sqft (no balcony, mostly living space, minimal corridoors)

�

UPHO.62315426.V550.jpg

�

Sky Habitat
http://www.propertyg...ale-sky-habitat

S$ 1,302,300
$ 1,359.39 psf
958 sqft (at least 1/3 is outdoor space with 2 corridors inside of living space but of course the study walkway can be sealed off to create another mini room, �the walkway into the house at the main entrance remains useless)

�

UPHO.50015623.V550.jpg

Then see see look look at CBD instead, since Sky Habitat budget 1.3mil for 1 bedder liao... Orchard road, best best xmm most like type.

Leonie Suites
http://www.propertyg...e-leonie-suites
S$ 1,300,000
S$ 1,886.79 psf
689 sqft (psf is higher than Sky Habitat but less outdoor space and less corridor although there is still a balcony. Apartment is also older, completed in 2006 - historical high was 2k psf in 2014 and historical low was 1.2k psf in 09)

UPHO.59646554.V550.jpg

Will you really go for Bishan?

�

Bonus option from President Scholar, Tanjong Katong Amber Sky
http://www.propertyg...sale-amber-skye

S$ 1,296,000
S$ 2,459.20 psf
527 sqft�

BUT Freehold + PRIVATE LIFT!!! + PRIVATE FOYER (corridor)!!! + Washer/dryer in storeroom!!!

�

of course i talk big only, no $$$ buy anything now

Edited by Mockngbrd, 12 February 2016 - 10:41 AM.

wah wah.. home prices defy market

didnt know that property and stock market are negatively correlated!

http://www.straitsti...ck-say-analysts
S-Reits still a choice pick, say analysts [grin]

Singapore-listed real estate investment trusts (S-Reits) continue to shine as safe havens amid turbulent markets, although some segments might see more challenges, say analysts.

Reits have outperformed the Straits Times Index (STI) this year, falling by about 2 per cent compared with the 11 per cent plunge in the STI. DBS Vickers Securities said S-Reits offer attractive valuations, trading at about 0.9 times price to book, and offer investors a yield of 7.1 per cent.

http://www.straitsti...-in-january-srx

Singapore private home resale prices edge up 0.6% in January
11 Feb 2016

http://www.straitsti...ces-rise-in-jan
Private apartment resale prices rise in Jan
PUBLISHED FEB 12, 2016, 5:00 AM SGT

While monthly statistics for the property market may contain too much noise, the increase for January cannot be simply dismissed as a random uptick as all three regions experienced price increases," said Savills Singapore research head Alan Cheong.

The resale price index for the CCR rose for the third straight month last month and is now at the level as in April 2014.

If resale volumes rise significantly year on year, prices could start stabilising early this year rather than in the second half, said Mr Cheong.

http://business.asia...ying-again-year

ABSD set to cut foreigner home buying again this year
The Business Times Friday, Feb 12, 2016

But Singapore's resident population does not seem to share the pessimism - at least not as much.

Purchases by PRs (permanent residents) increased 13.7 per cent to 2,522 units last year, while the number of private homes bought by Singaporeans rose 12.4 per cent to 9,967 units, according to DTZ's analysis of URA Realis data.

Among foreign buyers, the Chinese, Malaysians, Indians and Indonesians remained the top buyers.

For the third year in a row, mainland Chinese emerged as the top overseas buyers (PRs and non-PRs combined) of private homes in Singapore. The 952 units they acquired in 2015, though, marked a 4.6 per cent fall from 998 units in 2014.

Malaysians were the second-biggest overseas buying contingent, picking up 945 units in 2015, down 1.5 per cent from 959 units in 2014. Indian citizens were in third position, despite an 11.7 per cent drop in the number of units they bought to 325 last year. And Indonesians emerged in fourth position after a 34.1 per cent drop in their private home purchases here last year to 276 units.

On the positive side, Singaporean buying is set to rise again this year, thanks largely to upgraders entering the market as many may feel prices have fallen to a comfortable level and the ABSD is unlikely to be lifted any time soon.

http://www.businesst...e-up-in-january

Rents of condos, HDB flats in Singapore up in January
FEB 12, 2016

RENTS of private non-landed homes rose 0.2 per cent in January 2016 compared to a month ago, estimates from SRX Property show.

This increase follows a 0.4 per cent rise in December, marking a second consecutive month of increase after 10 consecutive months of decline since February 2015.

The rent uplift in January for private homes came mainly from the city fringe or the Rest of Central Region and the suburban area or the Outside Central Region, which saw rental increases of 1.2 per cent and 1.3 per cent respectively.

January's rental uplift was accompanied by more rental transactions of private non-landed homes, which registered a 15 per cent month-on-month jump to an estimated 3,411 transactions and a 1.2 per cent year-on-year slide.

In the public housing market, rents of Housing & Development (HDB) flats rose 0.7 per cent in January from December, with month-on-month rental increases registered across all HDB flat types.

http://www.businesst...e-up-in-january

Rents of condos, HDB flats in Singapore up in January
FEB 12, 2016

RENTS of private non-landed homes rose 0.2 per cent in January 2016 compared to a month ago, estimates from SRX Property show.

This increase follows a 0.4 per cent rise in December, marking a second consecutive month of increase after 10 consecutive months of decline since February 2015.

The rent uplift in January for private homes came mainly from the city fringe or the Rest of Central Region and the suburban area or the Outside Central Region, which saw rental increases of 1.2 per cent and 1.3 per cent respectively.

January's rental uplift was accompanied by more rental transactions of private non-landed homes, which registered a 15 per cent month-on-month jump to an estimated 3,411 transactions and a 1.2 per cent year-on-year slide.

In the public housing market, rents of Housing & Development (HDB) flats rose 0.7 per cent in January from December, with month-on-month rental increases registered across all HDB flat types.

�

Does this mean that people are now into renting (sell their current place and rent a place instead), and thus force the private property resale market to soften further?� Wait for further statistics from URA to have a clearer picture.

Interesting hypothesis.�

�

Increased rental demand and price leading to softening resale prices?

�

Last I read, all segments of resale prices also increased.

�

Does this mean that people are now into renting (sell their current place and rent a place instead), and thus force the private property resale market to soften further?� Wait for further statistics from URA to have a clearer picture.

�

Does this mean that people are now into renting (sell their current place and rent a place instead), and thus force the private property resale market to soften further? Wait for further statistics from URA to have a clearer picture.

it's like asking people dont buy car and let coe crash to $10k
it's almost impossible la particularly in spore ... lol

Edited by Wt_know, 14 February 2016 - 12:24 PM.

It's more like increased demand for rental cars resulting in COE dipping to 10K.

�

it's like asking people dont buy car and let coe crash to $10k
it's almost impossible la particularly in spore ... lol

�

*yawn*

Whatever it is, things are still looking South

Wake me up when there really is a change in direction and sentiment.

Good night.....

Confirmed South for the moment.

�

But when the direction and sentiment really change clearly, I think both prices and interest rates will spike at the same time.

�

When? No idea. In the meantime, please continue to sleep.

�

*yawn*

Whatever it is, things are still looking South

Wake me up when there really is a change in direction and sentiment.

Good night.....

�

Missing in this Jan rental report is the following facts:

�

The rent uplift in January for private homes came mainly from the city fringe or the Rest of Central Region and the suburban area or the Outside Central Region, which saw rental increases of 1.2 per cent and 1.3 per cent respectively. Private homes in the Core Central Region, however, experienced a 2.4 per cent fall in rents in January from December.

�

Now is still all just sentiments, nothing "concrete" happening yet. Most people still with jobs and can still service instalments. This will not trigger any big drop. Must wait for the real events when corporations go bankrupt and layoffs hit a lot of�people�that affect instalment payments will there be sell-off and price drop.�

Now is still all just sentiments, nothing "concrete" happening yet. Most people still with jobs and can still service instalments. This will not trigger any big drop. Must wait for the real events when corporations go bankrupt and layoffs hit a lot of people that affect instalment payments will there be sell-off and price drop.

Not sure whether to hope for that as well as that scenario will probably coincide with negative or close to zero interest rates like Japan is experiencing.

Personally I feel its still in downwards trend... and the current world economic doesn't help too ...

�

Maybe it will drop until a point that garmen will just reduce the % in ABSD and SSD .... highly possible

interesting periods compared to 08. several major central banks going to negative interest rates, if the Fed follow plus qe4 may again increase the cash flow globally.

On the other hand also got many factors such as china slowdown gonna see less tiongs buy properties here.

property prices here are still considered high, potential bubble? who knows. Then again its uncertain times that creates the most opportunities.

*yawn*

Whatever it is, things are still looking South

Wake me up when there really is a change in direction and sentiment.

Good night.....

�

in that case better change your name to rip van winkle� [laugh]

Prices are not falling much because interest rates are still kept artificially�low and people can still afford the instalments. Jobless rates are also low. Overall sentiments are negative though.

Everyone is waiting for each other to blink first.� Buyers versus the developers.

�

Time is not on the developers' side.��Unlike home buyers, they cannot afford to�just sit�and ride out the economic gloom.�� They have to�battle 2 deadlines, namely the:

�

1) ABSD, as the developers have 5 years to complete a residential project and sell a the units.� If not, they must pay the ABSD.� The rate was set at 10% of the purchase price of the site in end 2011, and then raised to 15%�in the beginning of 2013.�

�

2) Extension charges for unsold units for non-Singaporean developers (all the public-listed property companies)�who did not sell all units within 2 years of completion, which is 8% of proportional land cost for the 1st year, rising to 16% in the 2nd year, and 24% in the 3rd year.

�

In a separate thread that I started "New Bargains to be had", I have mentioned about these 2 deadlines, and have listed those properties that were acquired from the URA land sales from late 2011 to late 2012, which are facing the 1st deadline (ABSD).

�

A few bros mentioned that the ABSD ruling�is no big deal to�the developers, by suggesting that they can�set up a separate company to buy up all the unsold units, but don't forget, the newly set up company�ends up paying�the ABSD instead.

�

A few private property developers have written in to URA to extend the ABSD deadline, but URA has refused their requests.�

�

By the way, HDB also conducts their own land sales, and the 1st�private property�(acquired in early 2012 under the HDB land sales)�to fall�into�this inevitable ABSD trap is the Trilinq, in Clementi.� Out of the 755 units being built, about 500 units are still available for sale.�

�

So to all bros, patience is how you play the game, wait�for the ABSD�deadline to draw nearer for these 'distressed properties', and wait for the discounts to be�dangled in front of us when the time comes!�

�

Everyone is waiting for each other to blink first. Buyers versus the developers.

Time is not on the developers' side. Unlike home buyers, they cannot afford to just sit and ride out the economic gloom. They have to battle 2 deadlines, namely the:

1) ABSD, as the developers have 5 years to complete a residential project and sell a the units. If not, they must pay the ABSD. The rate was set at 10% of the purchase price of the site in end 2011, and then raised to 15% in the beginning of 2013.

2) Extension charges for unsold units for non-Singaporean developers (all the public-listed property companies) who did not sell all units within 2 years of completion, which is 8% of proportional land cost for the 1st year, rising to 16% in the 2nd year, and 24% in the 3rd year.

In a separate thread that I started "New Bargains to be had", I have mentioned about these 2 deadlines, and have listed those properties that were acquired from the URA land sales from late 2011 to late 2012, which are facing the 1st deadline (ABSD).

A few bros mentioned that the ABSD ruling is no big deal to the developers, by suggesting that they can set up a separate company to buy up all the unsold units, but don't forget, the newly set up company ends up paying the ABSD instead.

A few private property developers have written in to URA to extend the ABSD deadline, but URA has refused their requests.

By the way, HDB also conducts their own land sales, and the 1st private property (acquired in early 2012 under the HDB land sales) to fall into this inevitable ABSD trap is the Trilinq, in Clementi. Out of the 755 units being built, about 500 units are still available for sale.

So to all bros, patience is how you play the game, wait for the ABSD deadline to draw nearer for these 'distressed properties', and wait for the discounts to be dangled in front of us when the time comes!

http://sbr.com.sg/re...-still-elevated

15 Feb 2016

Developers have strong holding power.

Cooling measures have gripped Singapore�s property market for the past two years, and yet prices have still not dropped enough to make policymakers ease the measures.

Analysts note that private residential prices remain relatively elevated because of a number of factors, but particularly because developers have solid balance sheets and strong holding power after locking in robust sales over 2010 to 2013.

A report by DBS said that this gives developers room to sit out the current down cycle without aggressively cutting prices.

�Strong developer balance sheets and low interest rates have kept price decline more gradual. We believe that this is due to (i) developers' strong balance sheets and holding power after locking in strong sales over 2010-2013; and (ii) still low borrowing rates, which allow investors and homeowners to prefer holding on to their units and not sell, given low opportunity costs,� said DBS.

Meanwhile, CBRE said that developers are not prepared to cut prices because projects currently in the market involve high land and construction costs.

Developers preferred to pay a tax to extend the time to sell a project over cutting prices," CBRE said. [grin]

Confirmed South for the moment.

But when the direction and sentiment really change clearly, I think both prices and interest rates will spike at the same time.

When? No idea. In the meantime, please continue to sleep.

When someone point point at newspaper, you better go to KPT la kopi C.

When someone point point at property brochure, it'll be time you go to showroom lim cappuccino liao.

I think...

Everyone is waiting for each other to blink first.� Buyers versus the developers.

�

Time is not on the developers' side.��Unlike home buyers, they cannot afford to�just sit�and ride out the economic gloom.�� They have to�battle 2 deadlines, namely the:

�

1) ABSD, as the developers have 5 years to complete a residential project and sell a the units.� If not, they must pay the ABSD.� The rate was set at 10% of the purchase price of the site in end 2011, and then raised to 15%�in the beginning of 2013.�

�

2) Extension charges for unsold units for non-Singaporean developers (all the public-listed property companies)�who did not sell all units within 2 years of completion, which is 8% of proportional land cost for the 1st year, rising to 16% in the 2nd year, and 24% in the 3rd year.

�

In a separate thread that I started "New Bargains to be had", I have mentioned about these 2 deadlines, and have listed those properties that were acquired from the URA land sales from late 2011 to late 2012, which are facing the 1st deadline (ABSD).

�

A few bros mentioned that the ABSD ruling�is no big deal to�the developers, by suggesting that they can�set up a separate company to buy up all the unsold units, but don't forget, the newly set up company�ends up paying�the ABSD instead.

�

A few private property developers have written in to URA to extend the ABSD deadline, but URA has refused their requests.�

�

By the way, HDB also conducts their own land sales, and the 1st�private property�(acquired in early 2012 under the HDB land sales)�to fall�into�this inevitable ABSD trap is the Trilinq, in Clementi.� Out of the 755 units being built, about 500 units are still available for sale.�

�

So to all bros, patience is how you play the game, wait�for the ABSD�deadline to draw nearer for these 'distressed properties', and wait for the discounts to be�dangled in front of us when the time comes!�

�

ure absolutely right bro. its just a waiting game. and the best part for me is my HDB has reached its MOP stage. Nows the time to just look look see see, but still awaiting the ripe time.. hehe..

http://www.straitsti...-in-over-a-year

New private home sales in Jan lowest in over a year; analysts say momentum not lost
FEB 15, 2016

Developers sold 322 new private homes in January, 16.1 per cent less than in December and 14.4 per cent lower than a year back.

It was the lowest new home sales tally since 230 new homes were sold in December 2014.

This took place as no new projects were launched, and developers released just 146 units from earlier launches for sale.

But some analysts noted that there is still home buying momentum in the market.

"Buyers are steadily picking up previously launched projects - both private homes and executive condominiums (ECs)," said Mr Desmond Sim, CBRE head of research for Singapore and Southeast Asia.

Although there were no new ECs launched in the past three months, developers sold an average of 155 EC units a month over this period, Mr Sim said.

January has also typically been a slow month for property sales, said Mr Eugene Lim, ERA Realty key executive officer.

"A better gauge would be the months following Chinese New Year, where a few projects are gearing up for launch," Mr Lim said.

These include condominium projects The Wisteria and Sturdee Residences, while upcoming ECs include Wandervale and The Visionaire.

Overall, including ECs, developers sold 478 new homes in January, a 5.9 per cent decrease from December.

Across regions, they sold 26 units in the core central region, 80 in the city fringes and 216 in the suburbs.

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Even if there was only one sale, they will say momentum is there.

KNN ???

Muayhahahahahahahaha!

http://www.straitsti...-in-over-a-year

New private home sales in Jan lowest in over a year; analysts say momentum not lost
FEB 15, 2016

Developers sold 322 new private homes in January, 16.1 per cent less than in December and 14.4 per cent lower than a year back.

It was the lowest new home sales tally since 230 new homes were sold in December 2014.

This took place as no new projects were launched, and developers released just 146 units from earlier launches for sale.

But some analysts noted that there is still home buying momentum in the market.

"Buyers are steadily picking up previously launched projects - both private homes and executive condominiums (ECs)," said Mr Desmond Sim, CBRE head of research for Singapore and Southeast Asia.

Although there were no new ECs launched in the past three months, developers sold an average of 155 EC units a month over this period, Mr Sim said.

January has also typically been a slow month for property sales, said Mr Eugene Lim, ERA Realty key executive officer.

"A better gauge would be the months following Chinese New Year, where a few projects are gearing up for launch," Mr Lim said.

These include condominium projects The Wisteria and Sturdee Residences, while upcoming ECs include Wandervale and The Visionaire.

Overall, including ECs, developers sold 478 new homes in January, a 5.9 per cent decrease from December.

Across regions, they sold 26 units in the core central region, 80 in the city fringes and 216 in the suburbs.

Wisteria lane condo will have some desperate housewives there?

mycarforum

Thứ Sáu, 23 tháng 12, 2016

Private property prices... Up or Down? part 30

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