mycarforum: Rupiah/Rupee at risk, SG/HK risk property bubble part 27

need to be patient .... $2.5M D10 landed not easy to come by ....

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*camping*

Becos very sad, not enough cash, need prices to fall further.

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Edited by Wt_know, 21 May 2014 - 07:29 AM.

Clear cut direction is still Down.

*yawn*

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Hokay!

need to be patient .... $2.5M D10 landed not easy to come by ....

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not easy? Some ppl believe there would scores of prime firesale very soon

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those who like to bottom fish will be having a field day�

Attached Thumbnails

need to be patient .... $2.5M D10 landed not easy to come by ....
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$2.5mil decent size (3200sft up) semi D freehold landed not easy to come by in any residential district.
But i have no choice, not enough money so boh pian lan lan. Can only stay in my HDB and wait .....

i am searching for $2M (2500sft up)
penthouse unit OCR no need D10
got lobang bo?

Edited by Wt_know, 21 May 2014 - 11:13 AM.

i am searching for $2M (2500sft up)
penthouse unit OCR no need D10
got lobang bo?

Boh becos there are very few penthouse units more than 1800sft outside the central areas left.

Question. How is the occupancy at recently TOP'd condos?

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I ask because I pass by The Interlace regularly in the evenings and it still seems to be a ghost town, very few lights on. Is this the norm nowadays with new TOPs?

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Looking at the data; The Interlace project total got 1040 units... but the total caveat lodged is only 307...

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so there are about 700+ units unsold...

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Looking at their website, the developer start offering renting out as well as lowering the selling price.

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I heard that many local don like the design of it...

i am searching for $2M (2500sft up)
penthouse unit OCR no need D10
got lobang bo?

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bro that price ... might be able to get telok kurau (those small 4-5 storey building).�

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http://www.propertyg.../knox-view-2105 (this one had a recent transaction for 4th floor, of a 5 storey bldg, 816psf for 2200sqft total 1.8mil)

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well i've seen penthouse in katong go for slightly less than $1000psf (but 4000sqft)

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if you look at some of the older bldgs in katong, might be able to hit 1000psf soon enough.

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Looking at the data; The Interlace project total got 1040 units... but the total caveat lodged is only 307...

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so there are about 700+ units unsold...

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Looking at their website, the developer start offering renting out as well as lowering the selling price.

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I heard that many local don like the design of it...

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sho expensive... ask them chop price

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sho expensive... ask them chop price

They enbloc gilman heights at good price, so confirm will chop price to sell, dont worry.
If truly still 70% unsold, price will definitely go towards $1000psf or even below.

http://www.straitsti....orrow-20140510

Lower prices at Panorama relaunch tomorrow

Agents say prices could be 14% lower than at January's initial launch

Published on May 10, 2014 1:11 AM

By Melissa Tan

THE Panorama condominium in Ang Mo Kio goes back on sale tomorrow at a discount, the latest in a recent string of relaunches.

The new prices could be up to 14 per cent lower than at the initial launch in January, according to marketing agents.

Consultants said more projects could be put back on the market at lower prices in the coming months as some developers may have to sell units to pay for the project's construction.

Developers may also be encouraged to do so because recent condo repricings by their rivals have managed to move a decent number of units, they noted.

At The Panorama's relaunch tomorrow, prices for a one-bedder could start at $565,000 in total, according to marketing agents.

This is about 14 per cent below the lowest price paid for the smallest one-bedder in January - $658,670 for a 431 sq ft unit.

A two-bedder could start at $820,000 and a three-bedder $1,175,000. New prices for larger units such as four- and five-bedders and penthouses were not advertised.

The new prices work out to a range of $1,100 to $1,310 per sq ft (psf), lower than the previous average of $1,366 psf, according to caveats lodged with the Urban Redevelopment Authority (URA).

The 99-year leasehold project has sold poorly, partly because home loan curbs set last year have made it tough for buyers to afford more expensive units.

The developer, Wheelock Properties, moved 58 units in January at a median price of $1,343 per sq ft - just 8 per cent of the 698 units available. It had sold only 57 units in total by end-March, going by the latest available URA data, indicating that some units had been returned by their buyers.

Wheelock said in its first-quarter results yesterday that it had sold 56 units at $1,365 psf. It did not specify the average price.

The slow take-up had prompted Wheelock to write off $110 million for the project, which sent it into the red for the three months to Dec 31 last year.

Wheelock had paid $550 million for the land in Ang Mo Kio Avenue 2, which works out to $790 psf per plot ratio (ppr) for the nearly 1.85ha site - far higher than the $560 and $650 psf ppr analysts had expected.

Consultants yesterday said more condo relaunches could be on the horizon, with likely candidates being projects that have moved fewer than half their units.

"Developers generally need to get some cashflow so they don't have to dig into their own pockets to carry on the development," said CBRE research head Desmond Sim. But he noted that the threshold at which developers would need this extra cash depends on their profit margins from the project and the complexity of the construction.

OrangeTee research head Christine Li said "very good results" from recent condo repricings may also entice other developers to relaunch their projects.

The 75-unit freehold Hallmark Residences in Bukit Timah, for instance, managed to sell 26 units in February and a further 13 in March after its developer, MCL Land, cut prices.

CapitaLand's 509-unit Sky Habitat project in Bishan sold 80 units the day it relaunched last month, at prices about 10 to 15 per cent lower than at its initial launch two years ago.

Projects launched last year that have sold fewer than half of their units so far include Hillion Residences in Bukit Panjang, Kingsford's Hillview Peak in Bukit Batok, Vue 8 Residence in Pasir Ris and The Glades in Tanah Merah.

.com.sg'>melissat.com.sg

chop chop curry pok

Why they like to say "could be" "maybe" when it is already for sure that prices WILL BE cut.

thanks ... will keep an look out [thumbsup]

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bro that price ... might be able to get telok kurau (those small 4-5 storey building).�

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http://www.propertyg.../knox-view-2105 (this one had a recent transaction for 4th floor, of a 5 storey bldg, 816psf for 2200sqft total 1.8mil)

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well i've seen penthouse in katong go for slightly less than $1000psf (but 4000sqft)

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if you look at some of the older bldgs in katong, might be able to hit 1000psf soon enough.

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i was looking at this project, the lower floor useable space is small

the $psf is really paid for the roof terrace (empty space)

if i make a roof garden and supply organic vege to sheng shiong may be can make money [:)]

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http://www.foresque-.../penthouse-view

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OCR penthouse all got roof one ... why they don't do like CCR penthouse without roof [:(]

roof empty space $psf = jin ho jiak eh ... lol

Edited by Wt_know, 21 May 2014 - 12:52 PM.

i was looking at this project, the lower floor useable space is small

the $psf is really paid for the roof terrace (empty space)

if i make a roof garden and supply organic vege to sheng shiong may be can make money

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http://www.foresque-.../penthouse-view

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OCR penthouse all got roof one ... why they don't do like CCR penthouse without roof

roof empty space $psf = jin ho jiak eh ... lol

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because roof terrace etc is free money for developer.

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there's many CCR penthouse with empty roof. i saw quite a few in river valley area. also believe hijaun has this problem, as well as helios, just to name a few.

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the worse is those with void area ... they put in small print that the area is considered double square footage due to "high ceiling" which is garbage as well lah.

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developers got too many tricks up their sleeves lah .. need to be extra careful ... worse is when agents themselves dont know ...

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before i bought my place, gave a cheque for another place and the agent confirm to me the void area was not counted (even when i was skeptical). next day the agent sheepishly return cheque when they did their homework as the area was short 10% (due to the f**king void area). i told them if give 10% discount i can continue with the deal, but the developer said no way ... so i just ask for my $ back ..�

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because roof terrace etc is free money for developer.
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there's many CCR penthouse with empty roof. i saw quite a few in river valley area. also believe hijaun has this problem, as well as helios, just to name a few.
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the worse is those with void area ... they put in small print that the area is considered double square footage due to "high ceiling" which is garbage as well lah.
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developers got too many tricks up their sleeves lah .. need to be extra careful ... worse is when agents themselves dont know ...
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before i bought my place, gave a cheque for another place and the agent confirm to me the void area was not counted (even when i was skeptical). next day the agent sheepishly return cheque when they did their homework as the area was short 10% (due to the f**king void area). i told them if give 10% discount i can continue with the deal, but the developer said no way ... so i just ask for my $ back ..�

Yah dont understand why they like to play such tricks. Bloody hell!
Last time my other unit at Leonie which is double storey, they count the void as area, wtf!
As if i can levitate in mid air. kNN!

Yah dont understand why they like to play such tricks. Bloody hell!
Last time my other unit at Leonie which is double storey, they count the void as area, wtf!
As if i can levitate in mid air. kNN!

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agent told me hang chandelier ... fuggin moron. still cant forget how confident the agent was �... can confirm somemore and take my cheque that the void area not counted.

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think maybe the CEA exam not tough enough to weed out some geniuses...�

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buying new properties today is like gambling because at every junction the developer wants to shaft you with useless space ..

http://www.straitsti....orrow-20140510

Lower prices at Panorama relaunch tomorrow

Agents say prices could be 14% lower than at January's initial launch

Published on May 10, 2014 1:11 AM

By Melissa Tan

THE Panorama condominium in Ang Mo Kio goes back on sale tomorrow at a discount, the latest in a recent string of relaunches.

The new prices could be up to 14 per cent lower than at the initial launch in January, according to marketing agents.

Consultants said more projects could be put back on the market at lower prices in the coming months as some developers may have to sell units to pay for the project's construction.

Developers may also be encouraged to do so because recent condo repricings by their rivals have managed to move a decent number of units, they noted.

At The Panorama's relaunch tomorrow, prices for a one-bedder could start at $565,000 in total, according to marketing agents.

This is about 14 per cent below the lowest price paid for the smallest one-bedder in January - $658,670 for a 431 sq ft unit.

A two-bedder could start at $820,000 and a three-bedder $1,175,000. New prices for larger units such as four- and five-bedders and penthouses were not advertised.

The new prices work out to a range of $1,100 to $1,310 per sq ft (psf), lower than the previous average of $1,366 psf, according to caveats lodged with the Urban Redevelopment Authority (URA).

The 99-year leasehold project has sold poorly, partly because home loan curbs set last year have made it tough for buyers to afford more expensive units.

The developer, Wheelock Properties, moved 58 units in January at a median price of $1,343 per sq ft - just 8 per cent of the 698 units available. It had sold only 57 units in total by end-March, going by the latest available URA data, indicating that some units had been returned by their buyers.

Wheelock said in its first-quarter results yesterday that it had sold 56 units at $1,365 psf. It did not specify the average price.

The slow take-up had prompted Wheelock to write off $110 million for the project, which sent it into the red for the three months to Dec 31 last year.

Wheelock had paid $550 million for the land in Ang Mo Kio Avenue 2, which works out to $790 psf per plot ratio (ppr) for the nearly 1.85ha site - far higher than the $560 and $650 psf ppr analysts had expected.

Consultants yesterday said more condo relaunches could be on the horizon, with likely candidates being projects that have moved fewer than half their units.

"Developers generally need to get some cashflow so they don't have to dig into their own pockets to carry on the development," said CBRE research head Desmond Sim. But he noted that the threshold at which developers would need this extra cash depends on their profit margins from the project and the complexity of the construction.

OrangeTee research head Christine Li said "very good results" from recent condo repricings may also entice other developers to relaunch their projects.

The 75-unit freehold Hallmark Residences in Bukit Timah, for instance, managed to sell 26 units in February and a further 13 in March after its developer, MCL Land, cut prices.

CapitaLand's 509-unit Sky Habitat project in Bishan sold 80 units the day it relaunched last month, at prices about 10 to 15 per cent lower than at its initial launch two years ago.

Projects launched last year that have sold fewer than half of their units so far include Hillion Residences in Bukit Panjang, Kingsford's Hillview Peak in Bukit Batok, Vue 8 Residence in Pasir Ris and The Glades in Tanah Merah.

.com.sg' title="E-mail Link" class="bbc_email">melissat.com.sg

So it is true that, the early batch of buyers are sitting on big paper losses ?

Oh my oh my!

Really?
How can they let that happen?

So it is true that, the early batch of buyers are sitting on big paper losses ?

Oh my oh my!

Really?
How can they let that happen?

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y not when sh!t hits fan, only dung beetles left to feed

So it is true that, the early batch of buyers are sitting on big paper losses ?

Oh my oh my!

Really?
How can they let that happen?

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Now Wheelock's turn to shaft the early birds?

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More like early lambs to the slaughter???

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Taking a leaf out of simi c0ckpita Lan's playbook?

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David Lawrence got the ability to loon after he missed the boat...can't say the same for those who took over him.

ok what .. let people buy and expend ammo ..

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after all, cash is a finite resource. (unless you are USA govt, then i digress)

ok what .. let people buy and expend ammo ..

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after all, cash is a finite resource. (unless you are USA govt, then i digress)

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USA xerox so much paper...credit will still find its way to where it's needed in one form or another.

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Just need sentiment to get a knockout sucker punch. Then all will recoil like when you knock on a tray of tubifex worms.

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USA xerox so much paper...credit will still find its way to where it's needed in one form or another.

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Just need sentiment to get a knockout sucker punch. Then all will recoil like when you knock on a tray of tubifex worms.

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thats where you separate the men from the boys ...

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the boys will recoil ...

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the men will push up and ask "wanna know how i got these scars?" ;)

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Now Wheelock's turn to shaft the early birds?
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More like early lambs to the slaughter???
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Taking a leaf out of simi c0ckpita Lan's playbook?
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David Lawrence got the ability to loon after he missed the boat...can't say the same for those who took over him.

I would do the same if i were a developer.
Whoever launches quicker and earlier and lowers prices first will clear his inventory first allowing buffer for the next course of action.

This round down 10-15% also cannot sell all for sure.
Next round down another 10% from this round still cannot sell all
So my estimation of a good scenario using skyhabitat as example is for the price to drop to at least $1100psf before they can manage to sell remaining 230units.
$1600psf to $1100psf is $500psf. So the early buyers, almost lost their pants already.

For the newer big projects which started out at around $1300psf. Expect that to go under $1000psf or they wont be able to clear all "stock"

By the way, D'leedon still how much % unsold?

Treasure .... is not so Treasure liao ... not a single unit sold [bigcry]

but this one don't play play la ... no $4M no talk ... a simple check on propertyguru .... lol

calling T2 ... whack 1 unit la ... you will be the KING ... 1 tenant for the whole project of 48 units ... sibei awesome

i think the entire property management team and security guard will know you by name and salute to you when you drive out

Photo%25252020140521171403.jpg

Edited by Wt_know, 21 May 2014 - 09:32 PM.

Treasure .... is not so Treasure liao ... not a single unit sold
but this one don't play play la ... no $4M no talk ... a simple check on propertyguru .... lol
calling T2 ... whack 1 unit la ... you will be the KING ... 1 tenant for the whole project of 48 units ... sibei awesome
i think the entire property management team and security guard will know you by name and salute to you when you drive out

Ooooiii hello, i posted it already leh, why you post again???

Trying to bring down sales is it??? Wahahaha

But then again, good you posted a much clearer one for all to read.

More than 50 projects with less than 50% sold !!?!?!!!!??
Siao liao siao liao, see how long they tong.......

Edited by Throttle2, 21 May 2014 - 09:54 PM.

opps ... sorry ... revisit your posting ..

yeah ... you posted but i did not read the story

until i saw the link that i posted just now ... Jan 2013 till today not a single unit sold ... wahahaha

Edited by Wt_know, 21 May 2014 - 09:41 PM.

opps ... sorry ... revisit your posting ..
yeah ... you posted but i did not read the story
until i saw the link that i posted just now ... Jan 2013 till today not a single unit sold ... wahahaha

Yeah,....that one minimum must cut price by 20%-25% to move

Any insights on commercial property? Seems like most of the new B1 industrial are >80% vacant for half a year or so, like oxley 1 & 2, a-z building, commerzeIrving, novelty biz centre, yet price no drop, think most being held by investors.

I would do the same if i were a developer.
Whoever launches quicker and earlier and lowers prices first will clear his inventory first allowing buffer for the next course of action.

This round down 10-15% also cannot sell all for sure.
Next round down another 10% from this round still cannot sell all
So my estimation of a good scenario using skyhabitat as example is for the price to drop to at least $1100psf before they can manage to sell remaining 230units.
$1600psf to $1100psf is $500psf. So the early buyers, almost lost their pants already.

For the newer big projects which started out at around $1300psf. Expect that to go under $1000psf or they wont be able to clear all "stock"

By the way, D'leedon still how much % unsold?

Yup. Just need some unforseen situation to catch the already fragile sentiment offguard then it's ho say liao.

I think for DLeedon, CapL got rid of the lousier units at discounted prices.

I got to know bec there was so much chatter on the Dleedon thread in the condoforum so i kaypoh see see look look.

I got no money to buy second property, let alone a D9/10/11 property.

Any insights on commercial property? Seems like most of the new B1 industrial are >80% vacant for half a year or so, like oxley 1 & 2, a-z building, commerzeIrving, novelty biz centre, yet price no drop, think most being held by investors.

This is what happens when all start to have rent seeking mentality like the Greeks...

Just like when prices goes up, the next one goes even higher...... same goes when the prices go down. First one cut price, starts to sell. another one quickly cut to catch the market as well.

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agent told me hang chandelier ... fuggin moron. still cant forget how confident the agent was �... can confirm somemore and take my cheque that the void area not counted.

�

think maybe the CEA exam not tough enough to weed out some geniuses...�

�

buying new properties today is like gambling because at every junction the developer wants to shaft you with useless space ..

�

Exam very tough already, i still get nightmares when i think about my exams..� [bigcry]

So it is true that, the early batch of buyers are sitting on big paper losses ?

Oh my oh my!

Really?
How can they let that happen?

�

just paper losses only, same as paper gain, only realized when u sell.

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Early batch can console themselves that they paid higher for their choice units. Now only leftovers for others to nibble

Any insights on commercial property? Seems like most of the new B1 industrial are >80% vacant for half a year or so, like oxley 1 & 2, a-z building, commerzeIrving, novelty biz centre, yet price no drop, think most being held by investors.

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quantum low mah

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singaporean investors are cash rich. All hoping to hold out and sell for 20% higher. If they can get their target price in 10 yrs time, already better than putting money into fixed D

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even if they only lease the unit out for $0.50 psf for people to dump their barang barang�

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Exam very tough already, i still get nightmares when i think about my exams..�

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just paper losses only, same as paper gain, only realized when u sell.
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Early batch can console themselves that they paid higher for their choice units. Now only leftovers for others to nibble

�
quantum low mah
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singaporean investors are cash rich. All hoping to hold out and sell for 20% higher. If they can get their target price in 10 yrs time, already better than putting money into fixed D
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even if they only lease the unit out for $0.50 psf for people to dump their barang barang�

1..Paper loss is different from paper gain.
Paper loss can kill, paper gain cannot and doesnt.

2. As you said, console is the word. Simi choice units? Are you now saying that all choice units are launched in 1st phase? Agent always say every phase also have choice units lah. Or are you twisting words now ? Moreover some development havent even sold 10% yet.

3. Duration of the investment makes a hell lot of difference. For some people , cannot lease out at minimum $4psf means cashflow screwed. Cashflow screwed means KNNBCCB for some. Not all are truly cash rich. Cash rich means one can buy a few units in cash but choose to buy only one and have no impact when job is lost. Quantum low for low cash people mostly. Even if truly cash rich, will face opportunity loss still.

Not recognising where the market is and is heading, makes you sound like the "expert" property agent that everyone knows. So i would sincerely advise you not to prata anymore. Unless of course you truly think that the market is always up and trouble free.

Edited by Throttle2, 22 May 2014 - 09:37 AM.

1..Paper loss is different from paper gain.
Paper loss can kill, paper gain doesnt.

2. As you said, console is the word. Simi choice units? Are you now saying that all choice units are launched in 1st phase? Agent always say every phase also have choice units lah. Or are you twisting words now ? Moreover some development havent even sold 10% yet.

3. Duration of the investment makes a hell lot of difference. For some people , cannot lease out at minimum $4psf means cashflow screwed. Cashflow screwed means KNNBCCB for some. Not all are truly cash rich. Cash rich means one can buy a few units in cash but choose to buy only one and have no impact when job is lost. Quantum low for low cash people mostly.

Not recognising where the market is and is heading, makes you sound like the "expert" property agent that everyone knows. So i would sincerely advise you not to prata anymore. Unless of course you truly think that the market is always up and trouble free.

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if paper loss can kill, cashflow screwed can die, then simply means that the buyer has over extended himself. No one points a gun at the buyer to buy. Media has been warning about the impending supply and PAP has implemented so many CM to warn investors.

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Agents are just a convenient scapegoat lah. When investor huat from the property, do they credit agents? But when people get burnt, all will start cursing and swearing at agents.

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Most agents like to prata, but come on.. if you have enough money to buy a property, you are definitely not some kiddo frog in the well. 90% of the buyers i come across already have their own strong belief in the market even before i open my mouth. And they seldom change their view no matter what an agent says. If they think the market is down, they will not buy. If they think the market will be up, they will buy. Simple as that.�

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i'm no expert, just a salesperson. if i am so expert, i would be in other jobs like table wiping liao�

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Exam very tough already, i still get nightmares when i think about my exams..�

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just paper losses only, same as paper gain, only realized when u sell.
�
Early batch can console themselves that they paid higher for their choice units. Now only leftovers for others to nibble

�
quantum low mah
�
singaporean investors are cash rich. All hoping to hold out and sell for 20% higher. If they can get their target price in 10 yrs time, already better than putting money into fixed D
�
even if they only lease the unit out for $0.50 psf for people to dump their barang barang�

You are an agent right? You got client willing to let go rent at $0.50psf/month? If got let me know, I also want to put my barang barang.

Edited by GLZT, 22 May 2014 - 10:41 AM.

You are an agent right? You got client willing to let go rent at $0.50psf/month? If got let me know, I also want to put my barang barang.

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if can, find me at $0.60 also can! i'll re-rent to someone at $1.00 and pocket the difference

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been doing this for a while and my $0.02 is ... the big boys (the ones you should worry about) will tell you the same thing .. they rather keep vacant than to lower the rent, since that affects the valuation as well. better to use the previous rent as a benchmark for valuation than to give a new low rent.

quick question .. $2M property ... ABSD 7% = $140K cash

should whack now or wait for ABSD to be lifted ... $140K for ABSD is very shiong leh

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if ABSD is lifted, very sure all kancheong spider will�cheong to showroom and developer raise $psf or less discount

eventually,�$2M property might cost more�than $2.14M (incl ABSD)?

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so, how?

Edited by Wt_know, 22 May 2014 - 11:07 AM.

You are an agent right? You got client willing to let go rent at $0.50psf/month? If got let me know, I also want to put my barang barang.

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i dont do rental sorry

�

if u want, just search for the newly TOP ones.. as someone mentioned, oxley bizhub etc are all 80% vacant now.

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likely u will be able to find one investor who is desperate enough to rent to you�

quick question ...

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$2M property ... ABSD 7% = $140K cash

�

if price drop to sane level of $psf

should whack now or wait for ABSD to be lifted

$140K for ABSD is very shiong leh

�

if ABSD is lifted, kancheong spider all cheong and $psf rise ... so the $2M property might goes up

�

so, how?

�

how now brown cow?

�

then govt implement ABSD again lah!�

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i dont do rental sorry

�

if u want, just search for the newly TOP ones.. as someone mentioned, oxley bizhub etc are all 80% vacant now.

�

likely u will be able to find one investor who is desperate enough to rent to you�

�

how now brown cow?

�

then govt implement ABSD again lah!�

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edit: sorry reply is for wt_know

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just calculate the absd into your return lo ... what else can you do. everyone is surely thinking along the same lines as you ... even those multi �millionaires cant bear to part with extra 7% for the prime residential they want to buy. so all cheong together la ...

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if you are financially stable and the yield is decent, should be ok to consider. but market is still soft and you can probably squeeze the seller (or wait for a desperate enough seller)

Edited by Sp4wn, 22 May 2014 - 11:10 AM.

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i dont do rental sorry
�
if u want, just search for the newly TOP ones.. as someone mentioned, oxley bizhub etc are all 80% vacant now.
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likely u will be able to find one investor who is desperate enough to rent to you�

I don't suppose that's a professional advice coming from you right? If they are so desperate, they would already lower their asking price already.

�
i dont do rental sorry
�
if u want, just search for the newly TOP ones.. as someone mentioned, oxley bizhub etc are all 80% vacant now.
�
likely u will be able to find one investor who is desperate enough to rent to you�

Not desperate, just smart. There is 5 years of industrial supply in the pipeline, it can only get worse. Better secure a lease or eat air for a few years.

�
if paper loss can kill, cashflow screwed can die, then simply means that the buyer has over extended himself. No one points a gun at the buyer to buy. Media has been warning about the impending supply and PAP has implemented so many CM to warn investors.
�
Agents are just a convenient scapegoat lah. When investor huat from the property, do they credit agents? But when people get burnt, all will start cursing and swearing at agents.
�
Most agents like to prata, but come on.. if you have enough money to buy a property, you are definitely not some kiddo frog in the well. 90% of the buyers i come across already have their own strong belief in the market even before i open my mouth. And they seldom change their view no matter what an agent says. If they think the market is down, they will not buy. If they think the market will be up, they will buy. Simple as that.�
�
i'm no expert, just a salesperson. if i am so expert, i would be in other jobs like table wiping liao�

Nice twisty answer avoiding and misconstrueing the key points even.
Indeed you are sales person.
Expert sales person?
Wahah

Edited by Throttle2, 22 May 2014 - 12:47 PM.

Nice twisty answer avoiding and misconstrueing the key points even.
Indeed you are sales person.
Expert sales person?
Wahah

�

not as bad as those on condosingapore.com forums ...�

I don't suppose that's a professional advice coming from you right? If they are so desperate, they would already lower their asking price already.

�

some have started to lower, but as i have said, the market is not in panic mode yet so majority adopting a wait and see first�

�

if u knock on enough doors, you would probably find someone willing to do business at a good price

Nice twisty answer avoiding and misconstrueing the key points even.
Indeed you are sales person.
Expert sales person?
Wahah

�

expert? hardly. Still learning from the best� [:)]

�

not as bad as those on condosingapore.com forums ...�

�

wahhaaha that one is like a mass orgy, macam echo chamber all same response one lol

�

but can get some good info there lah

Edited by Duckduck, 22 May 2014 - 01:16 PM.

private condo dual key is not subjected to the rule living with parent or grandparent ... heng ah [thumbsup]

�

dual-key vs penthouse unit ... whichone better?

�

i like the idea of buying 4rooms dual-key = 1 3bedder + 1 studio

1 studio = 1 MM to let out

2 residences for 1 stamp duty ... huat ah!

just walk to next door to collect rent ... wahahaha

�

what projects got dual-key unsold? [sly]

hopefully can wait for the right time to lowball

�

Housing market gets distorted in favor of dual-key flats.

Singaporeans have found a way to sneak around the infamous additoinal buyer's stamp duty by getting two apartments for the price and tax of one. This concept, called dual-key aparment, has become popular among buyers who can get an apartment with 2 residences for the stamp duty of one unit, thereby avoiding the additional 15% of a second proeprty.

�

According to research done by Knight Frank,an amazing 1 in 13 units launched in 2013 was a dual-key unit, up from just 3.5% in 2011
and this is almost entirely due to the tax factor. This is an interesting distoriton of Singapore's property market in jsut a short amount of time and could have long-term lingering impacts with potentially seriuos consquences.

�

Dual-key apartments were originally designed so that family units could stay together and enoy some privacy. but with this new super-investor class of residence, the original purpose is being perverted.

�

Now, the family is being�forced to share spaces with other people.

"With a total of 330 newly-launched dual-key unts in 2011, the number has risen by approximately 1.5 times to 840 units in 2013. This increase is mostly contributed�by large-scale private residental developments, as the EC sector experiences a gradual decline in the number of newly-launched dual-key units," Knight Frank said in its research.

Edited by Wt_know, 22 May 2014 - 01:36 PM.

�

wahhaaha that one is like a mass orgy, macam echo chamber all same response one lol

�

but can get some good info there lah

dunno abt that, i find a lot of misleading info there from the so called experts ...

private condo dual key is not subjected to the rule living with parent or grandparent ... heng ah

�

dual-key vs penthouse unit ... whichone better?

�

i like the idea of buying 4rooms dual-key = 1 3bedder + 1 studio

1 studio = 1 MM to let out

2 residences for 1 stamp duty ... huat ah!

just walk to next door to collect rent ... wahahaha

�

what projects got dual-key unsold?

hopefully can wait for the right time to lowball

�

�

isnt dual key property still under 1 title deed anyway?? i didnt know dual key was 2 different title deeds. thats news to me.

you wanna own 2 HDBs?

�

Go and buy a jumbo 6 bedroom in woodlands and convert into 2 flats

�

can become super HDB investor, steady bom bee bee� [bounce1] � �

Edited by Wyfitms, 22 May 2014 - 02:15 PM.

yes, dual key condo is under 1 title deed

dual key = dual door = dual unit but 1 deed = 1 absd

you can use it as 1 property and also can use it as 2 property ... 1 = live + 1 = let out

dual key is sibei brilliant ... [thumbsup]

for limited ca$h investor ... instead of buy 1 condo to live + 1 MM to let out ... why not dual key

for limited ca$h investor ... let out hdb, buy condo dual key ... let out the studio unit ... hdb rent + stuido rent = condo loan auto-servicing ... huat ah!

�

dunno abt that, i find a lot of misleading info there from the so called experts ...

�

isnt dual key property still under 1 title deed anyway?? i didnt know dual key was 2 different title deeds. thats news to me.

�

Edited by Wt_know, 22 May 2014 - 02:52 PM.

private condo dual key is not subjected to the rule living with parent or grandparent ... heng ah
�
dual-key vs penthouse unit ... whichone better?
�
i like the idea of buying 4rooms dual-key = 1 3bedder + 1 studio
1 studio = 1 MM to let out
2 residences for 1 stamp duty ... huat ah!
just walk to next door to collect rent ... wahahaha
�
what projects got dual-key unsold?
hopefully can wait for the right time to lowball
�

Its not the same , dual key vs two seperate units.
One cent money, one cent good.

When it comes to liquidating and cutting up the pie, you can sell one seperate unit for cash and keep one to stay, with dual key, its all or nothing.

So while it is a saving on the duties, there presents its own limitations.

agree ... however with limited ca$h and maximise return ... dual key is a good option

almost reaching "have you cake and eat it"

�

for example, a family sell their hdb and upgrade to private condo (this is a typical scenario)

why not a dual-key condo

achieve the 5C dream and yet can let out the studio unit to collect rent ...

�

Its not the same , dual key vs two seperate units.
One cent money, one cent good.

When it comes to liquidating and cutting up the pie, you can sell one seperate unit for cash and keep one to stay, with dual key, its all or nothing.

So while it is a saving on the duties, there presents its own limitations.

�

Edited by Wt_know, 22 May 2014 - 02:57 PM.

Its not the same , dual key vs two seperate units.
One cent money, one cent good.

When it comes to liquidating and cutting up the pie, you can sell one seperate unit for cash and keep one to stay, with dual key, its all or nothing.

So while it is a saving on the duties, there presents its own limitations.

�

thats what i was thinking ... it's not really saving on stamp duty or absd because it's essentially 1 unit split into 2. it was sold as 1 title, so there's no benefit to saying you are "Saving" on the second absd because that is misleading the un-informed buyer. the benefit that is being touted does not technically exist.�

�

of all things, i sure as hell wouldnt want to stay in an apartment next to my tenant. everytime there is a small issue, they will knock on the door and say toilet broken, this broken, that broken. no thanks man. it's literally bringing work home when the apartment starts aging. (maybe i've become jaded after dealing with so many residential tenants ... )

�

lastly - if you rent out the other half and establish a baseline rental ... your own property tax will be adjusted upwards anyway. IRAS is not stupid ..

�

thats what i was thinking ... it's not really saving on stamp duty or absd because it's essentially 1 unit split into 2. it was sold as 1 title, so there's no benefit to saying you are "Saving" on the second absd because that is misleading the un-informed buyer. the benefit that is being touted does not technically exist.�

�

of all things, i sure as hell wouldnt want to stay in an apartment next to my tenant. everytime there is a small issue, they will knock on the door and say toilet broken, this broken, that broken. no thanks man. it's literally bringing work home when the apartment starts aging. (maybe i've become jaded after dealing with so many residential tenants ... )

�

lastly - if you rent out the other half and establish a baseline rental ... your own property tax will be adjusted upwards anyway. IRAS is not stupid ..

�

You mean you'll get only partial owner occupier tax rate?

How does IRAS work out on the percentage of the property to be taxed as such...

agree ... however with limited ca$h and maximise return ... dual key is a good option

almost reaching "have you cake and eat it"

�

for example, a family sell their hdb and upgrade to private condo (this is a typical scenario)

why not a dual-key condo

achieve the 5C dream and yet can let out the studio unit to collect rent ...

�

�

�

yes yes

�

you have summarized the essence of today's market

�

having your cake and eat it. How to continue supporting high psf price?

�

By making units smaller

�

That way, developers happy, buyers also happy (thinking price is now affordable when in fact area has shrunk 20%)�

�

You mean you'll get only partial owner occupier tax rate?

How does IRAS work out on the percentage of the property to be taxed as such...

�

no im saying the rental income you receive from the portion you rent out will be taxed. any rental income will definitely be taxed by IRAS. thats a given. as to how they proportion it, i dont know .. i dont have much experience as i mainly deal with private properties ...

agree ... however with limited ca$h and maximise return ... dual key is a good option
almost reaching "have you cake and eat it"
�
for example, a family sell their hdb and upgrade to private condo (this is a typical scenario)
why not a dual-key condo
achieve the 5C dream and yet can let out the studio unit to collect rent ...
�
�

How much is a Dual key, on average?

calling wyfitms ..... [:)]

�

How much is a Dual key, on average?

�

Edited by Wt_know, 22 May 2014 - 04:37 PM.

�
if paper loss can kill, cashflow screwed can die, then simply means that the buyer has over extended himself. No one points a gun at the buyer to buy. Media has been warning about the impending supply and PAP has implemented so many CM to warn investors.
�
Agents are just a convenient scapegoat lah. When investor huat from the property, do they credit agents? But when people get burnt, all will start cursing and swearing at agents.
�
Most agents like to prata, but come on.. if you have enough money to buy a property, you are definitely not some kiddo frog in the well. 90% of the buyers i come across already have their own strong belief in the market even before i open my mouth. And they seldom change their view no matter what an agent says. If they think the market is down, they will not buy. If they think the market will be up, they will buy. Simple as that.�
�
i'm no expert, just a salesperson. if i am so expert, i would be in other jobs like table wiping liao�

logical explanation and we'll said!

logical explanation and we'll said!

�

Thanks, just speaking out some heart truths

�

hope no one would sue me for misrepresenting� [laugh]

�

no im saying the rental income you receive from the portion you rent out will be taxed. any rental income will definitely be taxed by IRAS. thats a given. as to how they proportion it, i dont know .. i dont have much experience as i mainly deal with private properties ...

�

Orh, income tax lar, not property tax...

�

Orh, income tax lar, not property tax...

�

property tax will also have .. but for this... idk how they would do it since its 1 unit technically?

�

cannot run from the taxman lah!

�

property tax will also have .. but for this... idk how they would do it since its 1 unit technically?

�

cannot run from the taxman lah!

�

Property tax is on the annual valuation, income tax is on the income derived... nothing to do with whether its 1 unit or not... Or am I missing something here?

logical explanation and we'll said!

Perhaps but absolutely twisting and misconstruing in response to the original context.

For example:

A: blue and red are the same color
B: no, blue and red are clearly different, becos etc......
A: if blue and red are different, it means that another color has been added in to make it different
Already warn the person not to add another color to make it different. If you know how to paint, surely blue or red wont make a difference.

So at the end of the day are blue and red really the same color?
Which is the original question to answer.

Or has A twisted the whole context to make it sound logical in his favor?

�
Property tax is on the annual valuation, income tax is on the income derived... nothing to do with whether its 1 unit or not... Or am I missing something here?

Sp4wn is talking about the treatment of the unit as owner occupied or otherwise, or the proportion of each in question, i believe.

Owner occupied properties are taxed at a much lower rate than non owner occupied properties.

�

Property tax is on the annual valuation, income tax is on the income derived... nothing to do with whether its 1 unit or not... Or am I missing something here?

�

actually, it has everything to do with 1 unit .. (i think .. i dont know how dual key works exactly)

�

imagine this is your only property ..

you use half and you rent out half

because it is 1 property - do you get the owner occupier rate, or the 10% annual value rate?

(now do you see where i'm coming from?)

Perhaps but absolutely twisting and misconstruing in response to the original context.

For example:

A: blue and red are the same color
B: no, blue and red are clearly different, becos etc......
A: if blue and red are different, it means that another color has been added in to make it different
Already warn the person not to add another color to make it different. If you know how to paint, surely blue or red wont make a difference.

So at the end of the day are blue and red really the same color?
Which is the original question to answer.

Or has A twisted the whole context to make it sound logical in his favor?

Sp4wn is talking about the treatment of the unit as owner occupied or otherwise, or the proportion of each in question, i believe.

Owner occupied properties are taxed at a much lower rate than non owner occupied properties.

�

BOOM. thanks bro. you got my point ..

another 6454 buyers taken off the market [thumbsup]

hdb resale will continue to soften

a soft hdb resale market, how private condo market to be hard ... lol

�

To meet the housing needs of Singaporeans, HDB today launched 6,454 flats for sale under its May Build-to-Order (BTO) and Sale of Balance Flats (SBF) exercise.
Some 3,071 BTO flats over four projects in the non-mature estates of Bukit Batok and Woodlands were offered together with 3,383 balance flats.

This is the third BTO launch in 2014 and brings the total number of BTO flats and balance flats offered for sale this year to 13,090 units.

Although no studio apartments were made available in this BTO exercise, a wide range of two- to five-room flats and 3Gen flats are being offered to first-timers, second-timers, multi-generation families and singles. Prices start from $12,000 for a two-room in Marsiling Greenview, inclusive of grants.

The balance flats comprise studio apartments, two- to five-room and executive flats which are reserved for families.

Applications will close on 28 May and the next BTO launch will take place in July 2014.

In July, HDB will offer 3,810 BTO flats in Punggol, Sembawang, Toa Payoh, Woodlands and Yishun.

�

T2 said no 20% no talk ! ... lol

�

Why prices will not crash: CIMB

�

Singapore property prices are likely to decline - but not crash - by between 10 percent to 15 percent according to CIMB's latest Cost of Living survey, published today.
Answering the question "Will my home price crash?" the report noted that government policy and buyers' expectations are reasons for a weak residential property market, not unaffordable property prices.

�

CIMB said that property buyers are the clear winners in this cycle, with healthy household balance sheets and time on their side. Developers that took the initiative to court buyers with lower prices, have achieved healthy take-up rates thus far. This should bring on a gradual property price decline, not a crash. We expect a 10-15 percent correction over 2014-15.

Edited by Wt_know, 22 May 2014 - 09:15 PM.

�

property tax will also have .. but for this... idk how they would do it since its 1 unit technically?

�

cannot run from the taxman lah!

�

http://sbr.com.sg/re...estors-question

�

Singaporeans have found a way to sneak around the infamous additoinal buyer's stamp duty by getting two apartments for the price and tax of one. This concept, called dual-key aparment, has become popular among buyers who can get an apartment with 2 residences for the stamp duty of one unit, thereby avoiding the additional 15% of a second proeprty.

�

wah why IRAS allow ABSD loophole one? lol

Edited by Duckduck, 22 May 2014 - 11:47 PM.

another 6454 buyers taken off the market
hdb resale will continue to soften
a soft hdb resale market, how private condo market to be hard ... lol
�
�
�
T2 said no 20% no talk ! ... lol
�
Why prices will not crash: CIMB
�
�

Of all the analysts, you quote this one? Their reports are quite fxxked up.

Why people wish to have big crash? Big crash mean many people lost jobs, businesses out, homeless increasing and bankruptcy on the roll

Why it has to be a big crash? A decline would be more suitable. Moreover as long as economy is healthy, a crash is harder to realize. People with tons of cash does pray property crash big big so that they can use this crisis as opportunity to increase their wealth. Selfish but true

just like Alessio Rastani (the market is toast) suggested that he prays for a crash so that he can buy property or anything at a discount

�

then he kena left/right/centre on tv talkshows ... lol

�

but i agree with him and his point

�

Why people wish to have big crash? Big crash mean many people lost jobs, businesses out, homeless increasing and bankruptcy on the roll

Why it has to be a big crash? A decline would be more suitable. Moreover as long as economy is healthy, a crash is harder to realize. People with tons of cash does pray property crash big big so that they can use this crisis as opportunity to increase their wealth. Selfish but true

�

Edited by Wt_know, 23 May 2014 - 07:51 AM.

�

property tax will also have .. but for this... idk how they would do it since its 1 unit technically?

�

cannot run from the taxman lah!

since technically is 1 unit, and you are staying inside, it will be taxed as owner occupied.

�

... ok.. my understanding.

Sp4wn is talking about the treatment of the unit as owner occupied or otherwise, or the proportion of each in question, i believe.

Owner occupied properties are taxed at a much lower rate than non owner occupied properties.

�

That's exactly what I commented on earlier...

�

You mean you'll get only partial owner occupier tax rate?

How does IRAS work out on the percentage of the property to be taxed as such...

�

Then Sp4wn replied as such...

�

no im saying the rental income you receive from the portion you rent out will be taxed. any rental income will definitely be taxed by IRAS. thats a given. as to how they proportion it, i dont know .. i dont have much experience as i mainly deal with private properties ...

�

Now I'm completely befuddled by the whole trail of posts....

�

In any case, I'd venture a guess that owner occupier rates apply across the entierty of the property as long as you stay there regardless of�if you derive an income from it. IRAS gets their kicks from taxing the�rental via income tax.
�

Edited by L_club23, 23 May 2014 - 10:14 AM.

since technically is 1 unit, and you are staying inside, it will be taxed as owner occupied.

�

... ok.. my understanding.

�

govt see the $ coming from your rental. Don't think they will let it slip away from their taxation� [nod] � [nod]

Anyway they can tax via income tax. Property tax forgo. Maybe it's too complicated to administer.

Dual key is a very small percentage of the market anyway.

Edited by Lala81, 23 May 2014 - 10:14 AM.

�

That's exactly what I commented on earlier...

�

Then Sp4wn replied as such...

�

Now I'm completely befuddled by the whole trail of posts....

�

In any case, I'd venture a guess that owner occupier rates apply across the entierty of the property as long as you stay there regardless of�if you derive an income from it. IRAS gets their kicks from taxing the�rental via income tax.
�

�

dont worry bro .. like i said, im as confused as anyone else because i've never dealt with dual key units.

�

just to clear things up in a concise way -

�

income tax should be as per normal for collection of rental (i think we are on the same page here)

property tax is a guess since we cant be sure whether it is taxed as owner occupied / tenanted / hybrid of both. (this is the contention)

�

Since IRAS will get from income tax and property tax, it is unclear how they will deal with these units. the crux of my argument was that agents shouldnt be saying the taxation is owner occupied if nobody is certain ... sorry for going all over the place!

cos not all buy dual key is for rental? i think quite a few prob bought to have� family living together.

Why people wish to have big crash? Big crash mean many people lost jobs, businesses out, homeless increasing and bankruptcy on the roll

Why it has to be a big crash? A decline would be more suitable. Moreover as long as economy is healthy, a crash is harder to realize. People with tons of cash does pray property crash big big so that they can use this crisis as opportunity to increase their wealth. Selfish but true

Who who who?
Who said crash?

I never said crash either.
I said consistent drop over next two years before bottoming out 2016-17 all else unchange.
So we have seen experts say drop by 0-5% then shift to 5-10%, now 10-15% drop.

I bet you the next news which experts will say is 15-20% drop.....

30% can?

Who who who?
Who said crash?

I never said crash either.
I said consistent drop over next two years before bottoming out 2016-17 all else unchange.
So we have seen experts say drop by 0-5% then shift to 5-10%, now 10-15% drop.

I bet you the next news which experts will say is 15-20% drop.....

I never say u, relax la haha

30% can?

�

can

�

someone already predicted back in 2012 that prices will crash 50%

Attached Thumbnails

Oh my, this kinda Ulu place also got Big and Small developers all rushing in to bid... In the end, 2 sites won by both a big and small developer

�

shiok, another 1,000 units to be launched !

�

selling price expected to be $800-900 psf. Yep, prices have definitely dropped by 20%� [:)]

�

Two plots of land for executive condominium development at Yishun Street 51 have attracted a healthy number of bids from developers at the close of tender on Thursday.

PHOTOS

File photo of the Singapore skyline. (Photo: Siti Nur Mas Lina, channelnewsasia.com)

SINGAPORE: Two plots of land for executive condominium (EC) development at Yishun Street 51 have attracted a healthy number of bids from developers at the close of tender on Thursday.

The two adjacent plots were put up for sale under the batch tender closing system, which is aimed at ensuring more prudent bids from developers.

According to the Housing and Development Board, one plot attracted six bids.

The top bid came in jointly from Verwood Holdings and TID Residential at S$178.5 million.

Verwood is a wholly-owned subsidiary of City Developments, and TID Residential is a wholly-owned subsidiary of TID Pte Ltd.�

The site measures about 17,940 square metres and is expected to yield 490 units.

There were eight bids for the other plot, with JBE Holdings placing the top bid of S$184.1 million.

The plot has a size of about 18,260 square metres and is expected to yield 520 units.

Desmond Sim, head of CBRE Research (Singapore), said in a statement that "developers are still hungry for land. The relatively small total quantum for the two sites has enticed a spectrum of developers, big and small, to place competitive bids".

He also noted that the area is fast becoming an enclave of private developments in an established housing estate.�

In a statement on Thursday, CDL said that if awarded the site, it will explore a mid-rise EC development of between 12 to 13 storeys with approximately 480 units.

In January this year, CDL and TID also successfully tendered for an EC land parcel at Canberra Drive.�

- CNA/nd

�

can

�

someone already predicted back in 2012 that prices will crash 50%

�

if all prices across the board drop 50% then nth to worry. everyone also GG liao�

�

if all prices across the board drop 50% then nth to worry. everyone also GG liao�

�

yeah, most will GG like myself

�

but i suspect many here in MCF are cash rich and can't wait to prosper by picking up cheap cheap properties

�

yeah, most will GG like myself

�

but i suspect many here in MCF are cash rich and can't wait to prosper by picking up cheap cheap properties

�

There are quite a lot of distress sales around now.

If hardworking enough, sure can find some :)

�

Don't think property price will drop any more further now, stability is the key issue now.

If have spare money, can invest

can wait until ABSD is lifted?

�
There are quite a lot of distress sales around now.
If hardworking enough, sure can find some :)
�
Don't think property price will drop any more further now, stability is the key issue now.
If have spare money, can invest

Property ads still popping up.

Screenshot_2014-05-23-20-54-34_zpst5ffl7

�
Don't think property price will drop any more further now, stability is the key issue now.

Wanna bet?

hi all,

�

i have recently view a place but owner refuse to lower the price.

�

but the location and unit is perfect .

�

should i wait to see if owner will budge or move on to something else??

willing seller wiling buyer

depends on whether you are willing to buy

if not willing to buy this unit ... move on

�

but you say until so perfect ... [sly]

�

hi all,

�

i have recently view a place but owner refuse to lower the price.

�

but the location and unit is perfect .

�

should i wait to see if owner will budge or move on to something else??

�

Edited by Wt_know, 23 May 2014 - 11:10 PM.

just asking for opinion that all thanks

hi all,
�
i have recently view a place but owner refuse to lower the price.
�
but the location and unit is perfect .
�
should i wait to see if owner will budge or move on to something else??

How much is the difference?
If you like the place so much and can write off the difference then buy it and move on lah.

Is this your matrimonial home?
Or is it investment property?

The considerations are different. Becos one is more about sentiment and the other is more about money.

Hi,

The owner is asking $279 more psf than last transaction

The size is around 1100sf

And it own stay

Edited by frenchfly, 24 May 2014 - 12:04 AM.

Hi,

The owner is asking $279 more psf than last transaction

The size is around 1100sf

And it own stay

�

if own stay and u really like the place and u can afford it, id say go ahead. its better to buy smt you like even if a bit ex, rather than to settle for second best.

�

tell the seller to meet halfway, or issue the 1% at your price (or slightly higher) and write your terms behind (ie to be banked in on XXXX date before 5pm for deal to confirm). once you give a time limit normally seller will know u r serious and u will make them kancheong because they got a cold hard offer in hand =)

�

good luck!!

asking for $300K up compare to last transaction ... must be good location [thumbsup]

Edited by Wt_know, 24 May 2014 - 12:30 AM.

Thank you all for the reply.

Have a nice nite

steady [thumbsup] ... the power of show me the money ....

�

�

if own stay and u really like the place and u can afford it, id say go ahead. its better to buy smt you like even if a bit ex, rather than to settle for second best.

�

tell the seller to meet halfway, or issue the 1% at your price (or slightly higher) and write your terms behind (ie to be banked in on XXXX date before 5pm for deal to confirm). once you give a time limit normally seller will know u r serious and u will make them kancheong because they got a cold hard offer in hand =)

�

good luck!!

�

Edited by Wt_know, 24 May 2014 - 12:30 AM.

Thank you all for the reply.

Have a nice nite

Look its not a house, right?
If its a house then i can understand if you say its perfect etc etc...becos every house is different even if on the same street.

Its an apartment, asking for $279psf higher means you are probably taken for a ride unless it is $4000psf last done and you are paying $4279psf. And even then in this market you are still being taken for a ride.

However if you can live that up, go ahead.

Willing buyer willing seller as they say.
But i am sure the seller would be the one with a much much bigger smile.
On his way to the bank no less

If unit is perfect, price hgih abit its okay don't be like me to choosy end up miss out few good units

If unit is perfect, price hgih abit its okay don't be like me to choosy end up miss out few good units

Mai keh keh lah.

Now you regret buying at that high price, right?

Muayhahaha

Mai keh keh lah.

Now you regret buying at that high price, right?

Muayhahaha

No last time got cheap unit and good location don't want buy cos think think think end up other people close the deal first.

Mai keh keh lah.

Now you regret buying at that high price, right?

Muayhahaha

�

aiya investment got time to be choosy ... if own stay, sometimes need 2 move fast. even i missed a few good deals initially cos i kept thinking market sure soften

�
aiya investment got time to be choosy ... if own stay, sometimes need 2 move fast. even i missed a few good deals initially cos i kept thinking market sure soften

Of course, i mentioned that already.

Disturb him mah

Edited by Throttle2, 24 May 2014 - 08:22 AM.

Look its not a house, right?
If its a house then i can understand if you say its perfect etc etc...becos every house is different even if on the same street.

Its an apartment, asking for $279psf higher means you are probably taken for a ride unless it is $4000psf last done and you are paying $4279psf. And even then in this market you are still being taken for a ride.

However if you can live that up, go ahead.

Willing buyer willing seller as they say.
But i am sure the seller would be the one with a much much bigger smile.
On his way to the bank no less

�

Exactly. If desperate enough, you can knock on the floors upstairs/downstairs.

�

The 200+ psf difference is enough for a good reno.

suddenly i started seeing mortgagee sales [lipsrsealed]

ST reports Panorama moved about 85 units yesterday after�slashing prices by 12%. 56 buyers bought earlier in January kena short-change liao.

�

More to come.....

�

huat ah!

�

�

http://www.straitsti....orrow-20140510

Lower prices at Panorama relaunch tomorrow

Agents say prices could be 14% lower than at January's initial launch

Published on May 10, 2014 1:11 AM

By Melissa Tan

THE Panorama condominium in Ang Mo Kio goes back on sale tomorrow at a discount, the latest in a recent string of relaunches.

The new prices could be up to 14 per cent lower than at the initial launch in January, according to marketing agents.

Consultants said more projects could be put back on the market at lower prices in the coming months as some developers may have to sell units to pay for the project's construction.

Developers may also be encouraged to do so because recent condo repricings by their rivals have managed to move a decent number of units, they noted.

At The Panorama's relaunch tomorrow, prices for a one-bedder could start at $565,000 in total, according to marketing agents.

This is about 14 per cent below the lowest price paid for the smallest one-bedder in January - $658,670 for a 431 sq ft unit.

A two-bedder could start at $820,000 and a three-bedder $1,175,000. New prices for larger units such as four- and five-bedders and penthouses were not advertised.

The new prices work out to a range of $1,100 to $1,310 per sq ft (psf), lower than the previous average of $1,366 psf, according to caveats lodged with the Urban Redevelopment Authority (URA).

The 99-year leasehold project has sold poorly, partly because home loan curbs set last year have made it tough for buyers to afford more expensive units.

The developer, Wheelock Properties, moved 58 units in January at a median price of $1,343 per sq ft - just 8 per cent of the 698 units available. It had sold only 57 units in total by end-March, going by the latest available URA data, indicating that some units had been returned by their buyers.

Wheelock said in its first-quarter results yesterday that it had sold 56 units at $1,365 psf. It did not specify the average price.

The slow take-up had prompted Wheelock to write off $110 million for the project, which sent it into the red for the three months to Dec 31 last year.

Wheelock had paid $550 million for the land in Ang Mo Kio Avenue 2, which works out to $790 psf per plot ratio (ppr) for the nearly 1.85ha site - far higher than the $560 and $650 psf ppr analysts had expected.

Consultants yesterday said more condo relaunches could be on the horizon, with likely candidates being projects that have moved fewer than half their units.

"Developers generally need to get some cashflow so they don't have to dig into their own pockets to carry on the development," said CBRE research head Desmond Sim. But he noted that the threshold at which developers would need this extra cash depends on their profit margins from the project and the complexity of the construction.

OrangeTee research head Christine Li said "very good results" from recent condo repricings may also entice other developers to relaunch their projects.

The 75-unit freehold Hallmark Residences in Bukit Timah, for instance, managed to sell 26 units in February and a further 13 in March after its developer, MCL Land, cut prices.

CapitaLand's 509-unit Sky Habitat project in Bishan sold 80 units the day it relaunched last month, at prices about 10 to 15 per cent lower than at its initial launch two years ago.

Projects launched last year that have sold fewer than half of their units so far include Hillion Residences in Bukit Panjang, Kingsford's Hillview Peak in Bukit Batok, Vue 8 Residence in Pasir Ris and The Glades in Tanah Merah.

.com.sg'>melissat.com.sg

�

�

if 3 months later slash to 20% ... how would the 85 owners feel?

�

ST reports Panorama moved about 85 units yesterday after�slashing prices by 12%. 56 buyers bought earlier in January kena short-change liao.

�

More to come.....

�

huat ah!

�

Edited by Wt_know, 24 May 2014 - 11:42 AM.

they will give ah Q excuse "we can't time the lowest, but we are lower than earlier buyers' [laugh]

if 3 months later slash to 20% ... how would the 85 owners feel?

�

�

�

�

Hongkong seeing 30% cut in prices
Thats being realistic

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suddenly i started seeing mortgagee sales

Yup there were a handful in the last few months

Another semi D selling agent who last year asked $4.2mil is asking me if $3.7mil is doable for me now....

Wahahahah.... 6mths ago, i said market is definitely coming off, even $4mil nobody will touch but she snubbed me.

I think maybe make an offer at $3mil?
If dont want , suah....
I also no gian png

Edited by Throttle2, 24 May 2014 - 07:09 PM.

�
aiya investment got time to be choosy ... if own stay, sometimes need 2 move fast. even i missed a few good deals initially cos i kept thinking market sure soften

Yup. I also dithered for a while also thinking prices will soften then.

Now there are real signs of softening.

Yup. I also dithered for a while also thinking prices will soften then.

Now there are real signs of softening.

Corrections friend.

Not signs of softening.
It has soften and will continue to.

Heh heh

just a quick check on airbnb.com

a lot of owner letting out their unit or room from hdb to condo like a hotel

saw the forum page that a condo resident was complaining their condo has many "tourist" or "short term" residents ... aka medical tourists

�

with oversupply of condo and under-occupancy ... expecting more short term residents in your condo ... [bounce1]

Edited by Wt_know, 24 May 2014 - 08:52 PM.

just a quick check on airbnb.com

�

a lot of owner letting out their unit or room from hdb to condo like a hotel

�

saw the forum page that a condo resident was complaining their condo has many "tourist" or "short term" residents ....

�

those are fr ME and their fears are warranted considering MERS

yeah ... i will be very [bounce1] � if in my condo ...

nabei ... investor buy MM unit cannot offload or cannot find FT tenant then put it up on airbnb ...

�

those are fr ME and their fears are warranted considering MERS

�

Medical tourists flouting short-term rental rule

�

OVER the last few years, there have been reports of home owners purportedly leasing their properties to tourists, in violation of the six-month minimum subletting rule ("More renting out homes as 'hotels' "; April 29).

These incidents appear to be facilitated through portals such as Airbnb and Roomorama.

�

Increasingly, we are seeing a new breed of short-term tenants - medical tourists.

The Balestier area where I live is highly favoured by such tourists from the Middle East, presumably because of the medical hub in the Novena area and the proximity to various amenities and places of worship.

�

In my residential development, residents were alarmed to learn that more than 12 per cent of the units had been leased through a Singapore-incorporated company to Middle Eastern medical tourists, who typically arrive with large families and domestic helpers.

�

The Immigration & Checkpoints Authority's website states that visitors seeking medical treatment here may not extend their stay for more than 89 days from the date of entry into Singapore.

�

Consequently, medical tourists cannot possibly satisfy the six-month rental requirement.

Although residents in my estate value the diversity of our neighbourhood, we have little tolerance for illegal transient tenants who cause inconvenience and nuisance to us.

�

With the high concentration of patients from the Middle East, we are also concerned about the Middle East respiratory syndrome.

�

We have been reporting the cases to the Urban Redevelopment Authority (URA) since January, and our managing agent has provided all available information to facilitate investigations. But to date, no enforcement action appears to have been taken.

�

The URA cited reasons such as the lack of direct evidence of infringement and impracticality of obtaining information from the landlords.

�

We are puzzled as the Planning Act empowers it to require information from any property owner, occupier or tenant.

�

We hope the URA will invoke its powers and apply greater urgency in its investigations and enforcement actions.

�

It did suggest that owners institute by-laws to deter short-term accommodation operators from using units within our development. In fact, a group of owners has submitted a detailed proposal to our council for the implementation of such by-laws and to improve security and screening.

Unfortunately, the council is controlled by the property developer, which also owns a majority of the strata units in the development and displays little interest in engaging residents on this issue.

�

I urge the authorities promoting Singapore as a medical tourism hub to work with the agencies responsible for building the infrastructure to support the growing number of medical tourists.

�

Beatrice Tang (Ms)

�

�

Edited by Wt_know, 24 May 2014 - 08:58 PM.

yeah ... i will be very � if in my condo ...

nabei ... investor buy MM unit cannot offload or cannot find FT tenant then put it up on airbnb ...

�

�

Medical tourists flouting short-term rental rule

�

�

�

hmmm...i se potential in that development being a quarantine facility should MERS hit. �Most of the potential carriers stay there anyway....wohooo...then the owners collect rent lo...

just a quick check on airbnb.com
a lot of owner letting out their unit or room from hdb to condo like a hotel
saw the forum page that a condo resident was complaining their condo has many "tourist" or "short term" residents ... aka medical tourists
�
with oversupply of condo and under-occupancy ... expecting more short term residents in your condo ...

Well they ask for it.
Developments with large percentage of MM units face these issues.
So those owners who bought to stay will find it disturbing as tenants generally do not take care of the units as a real owner would. Moreover these are short term tenants.

They should hv known right.
Eyes wide open rule

better avoid condo project near medical centre or hospital ? [sly]

Edited by Wt_know, 24 May 2014 - 09:50 PM.

yeah ... i will be very � if in my condo ...
nabei ... investor buy MM unit cannot offload or cannot find FT tenant then put it up on airbnb ...
�
�
Medical tourists flouting short-term rental rule
�
�

haha that development at novena? Built by Far East... The hotel also by Far East if I'm not wrong

Well they ask for it.
Developments with large percentage of MM units face these issues.
So those owners who bought to stay will find it disturbing as tenants generally do not take care of the units as a real owner would. Moreover these are short term tenants.

They should hv known right.
Eyes wide open rule

�

MM units being rented out is one thing.

�

Here we are talking about short term rental which is illegal.

yeah ... soon MM units can be let out for rave party over the weekend or chicken farm liao ...

check out airbnb and some units were decorated with theme for the extra fun

Edited by Wt_know, 25 May 2014 - 12:20 PM.

better avoid condo project near medical centre or hospital ?

�

you're making agents selling 'prime' jurong east condos very nervous

mycarforum

Thứ Tư, 4 tháng 1, 2017

Rupiah/Rupee at risk, SG/HK risk property bubble part 27

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