mycarforum: Rupiah/Rupee at risk, SG/HK risk property bubble part 21

i wonder are all the 1700 agents from propnex [sly]

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hmm ... how come law minister addressing property agents?

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Property values 'unlikely to slide in longer term'
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By Cheryl Ong

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PROPERTY values are unlikely to slide in the longer term, if the Government continues with stable, clear-sighted policies, Law Minister K. Shanmugam has said.

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"(As) we move into a high-tech economy... we remain a safe centre for banking and financial services... where the Government does not move arbitrarily and acquire for no compensation. The Government doesn't chase people away," he said on Thursday.

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"If we can keep our policies right, in the longer term, if Singapore was a stock, buy it. And that means property prices will go up," Mr Shanmugam said in response to questions that cooling measures such as the Additional Buyers' Stamp Duty would weigh down property values.

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He was addressing about 1,700 property agents attending a ministerial dialogue organised by real estate firm PropNex at Kallang Theatre.

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He also noted in a Facebook post yesterday that he was optimistic about Singapore's future, as the thriving Asean economic community "will offer exciting economic and trade opportunities for us as a regional service hub".

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Headwinds in the property market, though, in part due to the cooling measures and Total Debt Servicing Ratio, do not mean buyers are unable to afford property, he added at the convention.

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Instead, some buyers may be wary and are holding back because of fears of a correction in prices.

The Government's redevelopment plans for the Greater Southern Waterfront and Paya Lebar Airbase will also free up "prime superb-value land" and play a part in propping up property values, he said.

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That means that the role of property agents will grow in importance, as property prices rise.

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"You are talking about people having to commit millions of dollars, and I think a highly-trained professional who can help people get value for that... can have a tremendous amount of value," Mr Shanmugam said.

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"I think a lot more advisory work, a lot more analytical-type work and services will have to be started and provided."

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.com.sg'>ocheryl.com.sg

Edited by Wt_know, 08 March 2014 - 07:01 PM.

Come on now, you dont expect him to tell the 1700 strong crowd of property agents that they are in for shit?

Must talk up a bit lah.

Key word remains "Longer Term"

In hokkien we say Kay Chua.

the serviced apt thingy was probably aimed at south beach..

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$4,000 psf? maybe next cycle ba

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no wonder CDL cry papa cry mama to remove CMs

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4215 units !!!

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40% is about it lor, launch or no launch no diff.
Actually, i also almost wanted to buy. Since i live in that area for 10yrs.

Anyway very few units , so percentage is definitely higher.
If development with 20 units, sell 10 already 50% lor hahah.
A play of numbers as usual by the reporting folks, hai.....

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So if price drop another 20% you buy or not?

i wonder if there are many projects with 20-30% unsold

firesale is imminent in order to clear the units

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gone are the days that unsold units are kept to rot for years ...

many many years ago i ever visited a FEO project with unsold units age coming to 4-5 years after TOP

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developers typically break even at 70% sold. So firesale unlikely if 20-30% is unsold.

Quote

Property values 'unlikely to slide in longer term'
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By Cheryl Ong

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Instead, some buyers may be wary and are holding back because of fears of a correction in prices.

The Government's redevelopment plans for the Greater Southern Waterfront and Paya Lebar Airbase will also free up "prime superb-value land" and play a part in propping up property values, he said.

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That means that the role of property agents will grow in importance, as property prices rise.

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"You are talking about people having to commit millions of dollars, and I think a highly-trained professional who can help people get value for that... can have a tremendous amount of value," Mr Shanmugam said.

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"I think a lot more advisory work, a lot more analytical-type work and services will have to be started and provided."

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.com.sg" title="External link">ocheryl.com.sg

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But+then+I+lol+d+_59e3d9e8c4ee7e752b7a4e

http://www.theguardi...n-flat-36m-2050

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Investor predicts that prime apartment in london valued at 1.5m today will be 36m in 2050

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Wanna buy? 24 fold increase�

http://www.theguardi...n-flat-36m-2050
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Investor predicts that prime apartment in london valued at 1.5m today will be 36m in 2050
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Wanna buy? 24 fold increase�

U r saying 4 room hdb will be 8 million in 2030?

U r saying 4 room hdb will be 8 million in 2030?

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HDB no match for central london lah

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at most only 5-6 million only

So if price drop another 20% you buy or not?

Yes, if i find one i like.

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developers typically break even at 70% sold. So firesale unlikely if 20-30% is unsold.

Brother, if just breakeven, finish liao.......

Brother, if just breakeven, finish liao.......

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brother, you are right

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but if hit breakeven, the pressure to firesale will reduce substantially. No need to keep looking back to find the banks snapping at their heels

i agree with T2 breakeven = sibei jialat liao for developer

they need the obscene profit to fund operation, bidding for next land, etc

developer requires HUGE operating cashflow especially to repay loan and interest

Edited by Wt_know, 10 March 2014 - 01:37 PM.

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brother, you are right
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but if hit breakeven, the pressure to firesale will reduce substantially. No need to keep looking back to find the banks snapping at their heels

Agreed.
Pressure to firesale may note be there.
But pressure to sell at lowered nonetheless will be.
Otherwise, let them all convert to serviced apartments or rent out (if they can) loh!!
Hohoho

i agree with T2 breakeven = sibei jialat liao for developer
they need the obscene profit to fund operation, bidding for next land, etc
developer requires HUGE operating cashflow especially to repay loan and interest

Wah, finally finally, you agree with me for once ......thank you thank you for your kindness

2012 - $4.3B

2013 - $4.5B

2014 - ???

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2 years only ... $8.8B collected from ABSD

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we thank you and we love you very muchie ... huat ah!!

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Edited by Wt_know, 11 March 2014 - 10:30 PM.

2012 - $4.3B
2013 - $4.5B
2014 - ???
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2 years only ... $8.8B collected from ABSD
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we thank you and we love you very muchie ... huat ah!!
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Thank you for your contribution to nation building.

I know I didn't

A famous saying, what's wrong with collecting more money?

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2012 - $4.3B

2013 - $4.5B

2014 - ???

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2 years only ... $8.8B collected from ABSD

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we thank you and we love you very muchie ... huat ah!!

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Wt_know, on 12 Mar 2014 - 01:28 AM, said:

2012 - $4.3B

2013 - $4.5B

2014 - ???

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2 years only ... $8.8B collected from ABSD

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we thank you and we love you very muchie ... huat ah!!

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enuff to fund pioneer package, still got change

A famous saying, what's wrong with collecting more money?

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nothing wrong, as long as not collecting from me

2012 - $4.3B

2013 - $4.5B

2014 - ???

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2 years only ... $8.8B collected from ABSD

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we thank you and we love you very muchie ... huat ah!!

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So, after Jiak ba ba from ABSD, GLS, SSD, etc etc for 3-4 years

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then they start the real cooling measures which is to arrest HDB pricing & TDSR

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If they were sincere about cooling the markets, they wont be collecting so much ABSD and GLS bids

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nothing wrong, as long as not collecting from me

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So, after Jiak ba ba from ABSD, GLS, SSD, etc etc for 3-4 years
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then they start the real cooling measures which is to arrest HDB pricing & TDSR
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If they were sincere about cooling the markets, they wont be collecting so much ABSD and GLS bids

whats new, dude.....heeeeheeeeheee

Edited by Throttle2, 12 March 2014 - 09:50 AM.

2012 - $4.3B
2013 - $4.5B
2014 - ???
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2 years only ... $8.8B collected from ABSD
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we thank you and we love you very muchie ... huat ah!!
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I contributed to 2013 figures lol

I contributed to 2013 figures lol

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wah sei.....u pay ABSD ah. richie rich spotted!�

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btw, ten kew hor for contributing to nation building.�

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wah sei.....u pay ABSD ah. richie rich spotted!�
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btw, ten kew hor for contributing to nation building.�

Not much la haha cant even buy a C class

Not much la haha cant even buy a C class

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nvm, richie riche no need buy C(ommon) class. somemore ABSD pay full cash.� -_-

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nvm, richie riche no need buy C(ommon) class. somemore ABSD pay full cash.�

Now follow T2 advice, put lots of cash in absd and 70% downpayment, now feel broke liao must eat hawker centre everyday [bigcry]

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nvm, richie riche no need buy C(ommon) class. somemore ABSD pay full cash.�

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if preferred, ABSD can be paid thru cpf as well� [rolleyes]
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if preferred, ABSD can be paid thru cpf as well�
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izit? wah sei....power sia. cpf let us use our retirement money to pay frivolous tax but dun let us use for things we realli need...... <_<

I read today papers, another small developer win bid for land....

Hee heh big developers dont want to touch.

Of course stupid agents will say "look land bidded at high price again so property cannot drop!"

Edited by Throttle2, 12 March 2014 - 07:59 PM.

I read today papers, another small developer win bid for land....

Hee heh big developers dont want to touch.

Of course stupid agents will say "look land bidded at high price again so property cannot drop!"

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The Yishun plot?

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To be fair, isn't the 2nd highest bid for Fraser centerpoint (and partners)?

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The Yishun plot?
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To be fair, isn't the 2nd highest bid for Fraser centerpoint (and partners)?

And how high was that? *smile*
2nd bidder doesnt count.
Its like missing the hole by 2cm, 2feet or 2yards or 20yards, still one stroke.
Many land auction nowadays is won by smaller developer and even at high prices.
I have explained the logic behind it more than once already.
Believe it or not , up to you.

Now follow T2 advice, put lots of cash in absd and 70% downpayment, now feel broke liao must eat hawker centre everyday

Feel broke and real broke not same same

And how high was that? *smile*
2nd bidder doesnt count.
Its like missing the hole by 2cm, 2feet or 2yards or 20yards, still one stroke.
Many land auction nowadays is won by smaller developer and even at high prices.
I have explained the logic behind it more than once already.
Believe it or not , up to you.

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dont be so excited yet lah. Your logic is correct that mkt is at turning point if only small developers would participate in land tenders and the big boys only go in and bottom fish.

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a few points in this case:

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- the winning price is a historic high for yishun. Yishun is hardly considered prime by any stretch of the imagination.

- first prize - EL ($450 psf); second prize FCL ($440 psf 2% lower); third prize CES ($423 psf 6% lower)

- big boys apparently still very hungry to buy at high prices

- if the big boys continue not to win, you don't think they will push their bids further? i'm sure FCL regretted not putting in at $460psf

Feel broke and real broke not same same

Haha true cos now got one additional property, by value my networth increase though haha

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dont be so excited yet lah. Your logic is correct that mkt is at turning point if only small developers would participate in land tenders and the big boys only go in and bottom fish.
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a few points in this case:
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- the winning price is a historic high for yishun. Yishun is hardly considered prime by any stretch of the imagination.
- first prize - EL ($450 psf); second prize FCL ($440 psf 2% lower); third prize CES ($423 psf 6% lower)
- big boys apparently still very hungry to buy at high prices
- if the big boys continue not to win, you don't think they will push their bids further? i'm sure FCL regretted not putting in at $460psf

They are lukewarm and not aggressive in bidding thats for sure.
Only the smaller ones who have no choice.
Becos, no land = no inventory = no sales = no business = no future

The big boys can win if they wanted to, its whether they deem it worthwhile or not at those prices.

I am simply offering a real down to the ground alternative view of why land may still be bought by developers (smallerones) at high prices, as oppose to stupid agents who cannot decipher the information further than their frontdoor mat.

Haha true cos now got one additional property, by value my networth increase though haha

By networth, not necessarily.
Becos value drop, loan still there.

Heh heh heh

Be careful now.....if we are talking valuation.....thats different from liquidity.

Edited by Throttle2, 13 March 2014 - 12:03 PM.

Haha true cos now got one additional property, by value my networth increase though haha

Renovate yet?

Renovate yet?

Renovated already, not much on renovation

Refinancing that home loan on many a to-do list, New launch Condo
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The Government last month also made it easier for many home owners to refinance their home loans by widening exemptions from its total debt servicing ratio (TDSR) requirements.
Still, experts say that borrowers should do their sums and assess all available options before picking a new loan package.
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Agent spotted.... Hehehe....

foreclosure of luxury homes

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down trend gaining momentum

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Draycott 8 unit up for auction; 4 Sentosa Cove condos up for sale

JLL marketing by private treaty the Sentosa units, put up for sale by their mortgagees

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print�|email this article

STAR PROPERTY
The four-bedroom apartment at Draycott 8 (above), which is up for sheriff's auction, is on the 13th level of the project and faces the clubhouse and greenery. The indicative price for the unit is $6-6.5 million

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Singapore

A FOUR-BEDROOM apartment in the prime Draycott 8 project has been put up for sheriff's auction on March 27. JLL, which is conducting the auction, is also separately marketing by private treaty four condo units in Sentosa Cove that have been put up for sale by their mortgagees (or lenders).

Private treaty deals entail negotiations unlike an auction where all the bidders come publicly.

Two of the apartments are in the Turquoise project; they are four-bedroom units, one above the other and believed to be owned by the same party.

The other two apartments - a three-bedder and a four-bedder - are in the Marina Collection condo.

Mok Sze Sze, head of auction and sales at JLL, said there has been a rise in the number of private homes being put up for auction by mortgagees or lenders. In the first two months of this year, there were five such properties, compared with only two in the same period last year.

Typically, financial institutions tend to provide some leeway to borrowers who are experiencing difficulty servicing their mortgages by giving them an opportunity to dispose of their properties themselves. "But lately it has been more difficult for owners to sell their properties as they tend to hold on to their prices. Buyers, on the other hand, have been finding it harder to obtain credit since the TDSR (total debt servicing ratio) was introduced last June," said Ms Mok.

This has resulted in a price gap, causing more properties to end up as mortgagee sales, she added.

Colliers International deputy managing director Grace Ng says the same argument would apply to non-residential properties since TDSR cuts across all property sectors. "In fact, since last year, we have seen more industrial properties being put up for sale by lenders because SMEs have been experiencing a challenging business environment.

"As for commercial properties, the trend of mortgagee sales is not yet pronounced but I expect more such cases this year."

At Turquoise, a guide price of $5.5 million to $5.8 million has been set for each of the two four-bedroom units, reflecting $1,981-$2,089 per square foot (psf) for the 2,777-sq-ft apartments - on the second and third levels.

The highest transaction in the development was $2,772 psf in October 2007, said Ms Mok citing caveats data from SISV Realink.

Over at Marina Collection, JLL is marketing a three-bedroom apartment of 2,098 sq ft on the first level and a 2,185-sq-ft four-bedder on the third level.

"The asking price for each unit is $6 million, which works out to $2,860 psf for the three-bedder and $2,746 psf for the four-bedder," said Ms Mok.

The highest price achieved in the condo is $2,950 psf between the November 2012 and March 2013 period. Generally, Marina Collection units have been transacting at higher prices as they enjoy a better facing, added Ms Mok.

According to a recent study by Colliers, the median price of condo transactions in Sentosa Cove shot up from $847 psf in Q4 2004 to $1,576 psf in Q4 2006, touching a high of $2,658 psf in Q1 2008. The global crisis took the wind out of the luxury condo market's sails and Sentosa Cove was no exception.

Within just nine months, the median price of condos in the upscale waterfront housing district had tumbled to $1,200 psf in Q4 2008. Following that, prices have been on a rocky road to recovery. The median Sentosa Cove condo price touched a record high of $2,950 psf in Q1 2013. But with the release of the TDSR framework a few months later, this eased to $1,895 psf by end-December 2013.

Meanwhile, those keen on a property in Singapore's traditional prime districts may want to head to JLL's auction on March 27, which starts at 2.30pm at The Amara Hotel. The star property is the sheriff's auction of the four-bedroom unit on the 13th level of Draycott 8. The unit faces the clubhouse and greenery, said Ms Mok. Completed about nine years ago, Draycott 8 is on a site with a balance lease term of about 82 years.

The indicative price for the unit is $6-6.5 million, which reflects about $2,096-$2,270 psf based on the unit's strata area of 2,863 sq ft. JLL said that about a year ago, comparable units in the development fetched around $7 million or $2,445 psf.

The sheriff's sale is being conducted to recover debt owed to an individual creditor.

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Had lunch with my colleague just yesterday, he told me that his landlord automatically offered a 10% lower rental for him to renew the lease....

Hhhmmmm.......

Cant remember when the last time was, that landlords automatically drop rental rates...

Heh heh heh

Chickens are coming home to roost...

Simi private treaty bs.

Time to see who swimming without swimming trunks.

Woo hoo!

Sentosa got a lot babysitters now...went to W for a friend's wedding. 2 hands more than enough to count the number of lighted units on my way in and out.

Edited by Sabian, 16 March 2014 - 12:19 AM.

Had lunch with my colleague just yesterday, he told me that his landlord automatically offered a 10% lower rental for him to renew the lease....

Hhhmmmm.......

Cant remember when the last time was, that landlords automatically drop rental rates...

Heh heh heh

what area is that?

My tenant requested to renew on same term in February leh.. That's bec my rental has been very reasonable based on 3 year ago terms. Good tenant but I no choice cannot renew bec have decided to take it back for major renovation.

what area is that?

My tenant requested to renew on same term in February leh.. That's bec my rental has been very reasonable based on 3 year ago terms. Good tenant but I no choice cannot renew bec have decided to take it back for major renovation.

He didnt say but if i recall correctly from past discussions, its Tanjong Rhu.

my colleague rented at dunearn road
rental up $500 (up 17%) ... else move out!
in view of the troublesome to move, lan lan $500 x 24mths .. $12k more

Edited by Wt_know, 16 March 2014 - 12:26 PM.

my colleague rented at dunearn road
rental up $500 (up 17%) ... else move out!
in view of the troublesome to move, lan lan $500 x 24mths .. $12k more

Your colleague not that smart leh... Or simply loaded or maybe his coy paying.. ... From 3k to 3.5k also accept...

my colleague rented at dunearn road
rental up $500 (up 17%) ... else move out!
in view of the troublesome to move, lan lan $500 x 24mths .. $12k more

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Lazy to move for 12k?

my colleague did check with a few agents ... and see a few places

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agent fees + cost of move + time + new place is not much cheaper anyway + already used to old place = not worth it

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agent fees + cost of move + touch up new place = $$$ also

Edited by Wt_know, 16 March 2014 - 01:54 PM.

my colleague did check with a few agents ... and see a few places
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agent fees + cost of move + time + new place is not much cheaper anyway + already used to old place = not worth it
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agent fees + cost of move + touch up new place = $$$ also

This is called kena kiauw, hahahaha. Too bad for you colleague.

that's why owner also know

increase $500 ... tenant high chance will bite it ... $12k extra [thumbsup]

Edited by Wt_know, 16 March 2014 - 02:20 PM.

my colleague did check with a few agents ... and see a few places

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agent fees + cost of move + time + new place is not much cheaper anyway + already used to old place = not worth it

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agent fees + cost of move + touch up new place = $$$ also

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may i ask, for private, i thought usually tenants do not need to pay agent fee?

usually is tenant's agent will co-broke with landlord's agent for the landlord's commission right?

Edited by Taggy, 16 March 2014 - 03:04 PM.

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may i ask, for private, i thought usually tenants do not need to pay agent fee?
usually is tenant's agent will co-broke with landlord's agent for the landlord's commission right?

Yes, correct.

New home sales surge 28% in Feb But March figures likely to be subdued, say experts

The Straits Times�- March 18, 2014�
By: Cheryl Ong

Share on facebook Share on twitter Share on email Share on favorites Share on print|More Sharing ServicesMore

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Potential buyers at Rivertrees Residences showflat, a waterfront condominium project in Sengkang. -- PHOTO: RIVERTREES

NEW home sales here kept picking up pace last month, as developers returned to the market with major new suburban launches.

But experts expect this month's figures to be subdued, and estimate that total sales for the first quarter will still be about 30 per cent lower than that for the fourth quarter last year.

They said February's upswing might reflect a stabilising market, but that a rebound in buying demand would still largely depend on how developers price units.

Home hunters bought 724 units last month, a 28 per cent surge from the 565 units sold in January, data from the Urban Redevelopment Authority showed yesterday. This excludes sales at executive condominiums.

The upswing was driven by two launches in Sengkang West, where 550 units went on sale. This helped the suburbs record 588 sales, leading the overall tally.

"With the market more attuned to the raft of cooling measures and financing curbs, as well as the festive lull behind, developers released two new mass-market projects in the suburbs," said Ms Chia Siew Chuin, director of research and advisory at Colliers International.

Frasers Centrepoint's 495-unit Rivertrees Residences moved 218 units at a median $1,111 per sq ft (psf), while UOL Group's 555-unit Riverbank Fernvale sold 211 units at a median $1,033 psf.

"Despite being (in) strong competition to each other, both adopted competitive pricing strategies," said Dr Chua Yang Liang, head of research and consultancy, South-east Asia, at property firm Jones Lang LaSalle. "The conditions today require developers to be more sensitive to the market, where value for money is key."

On the city fringes, 87 units were sold, while 49 units were moved in the city centre.

Experts said projects launched earlier felt the pressure from new launches, as developers slashed prices at older developments.

Property agency OrangeTee's research head Christine Li pointed to 10 per cent price cuts at MCL Land's Hallmark Residences in Bukit Timah, where 26 units were sold for a median price of $1,860 psf last month. "February's sales of Hallmark Residences could be a silver lining in the market: As long as developers can forgo some margins, but still be profitable, buyers do come back," she said.

Buyers picked up 23 units at EL Development's La Fiesta in Sengkang and 22 units at Fragrance Group and World Class Land's Urban Vista in Tanah Merah.

CBRE research head Desmond Sim said prices are "relatively stable" despite minor corrections of 1 per cent to 3 per cent at older projects. He said the discounts may have been for "less saleable units at older launches".

Still, Mr Sim said March sales figures are not likely to be strong. He expects sales this month to come in at between 400 and 500 units due to a dearth of new launches, and first-quarter sales to hit 1,800 units, 30 per cent below that sold in the preceding three months.

"The future new home sales market will very much be dependent on how developers want to move sales in a quieter market," said Ms Li.

But developers are also waiting to see who makes the first move, said Mr Sim, adding: "It is also a matter of who blinks first... Developers don't want to cannibalise each other too."

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Chiong ahh

People chiong into neighbourhood area liao

no $1000+ psf no talk ... chiong ar!

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"With the market more attuned to the raft of cooling measures and financing curbs, as well as the festive lull behind, developers released two new mass-market projects in the suburbs," said Ms Chia Siew Chuin, director of research and advisory at Colliers International.

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Frasers Centrepoint's 495-unit Rivertrees Residences moved 218 units at a median $1,111 per sq ft (psf), while UOL Group's 555-unit Riverbank Fernvale sold 211 units at a median $1,033 psf.

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Edited by Wt_know, 19 March 2014 - 02:22 PM.

no $1000+ psf no talk ... chiong ar!

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Hearing some buzz that the upcoming lakeside condo project will be launched at $1,300-$1,500 psf.

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If they can move these units, then dont be surprised to see price index actually going up!

most of the time property lags behind stocks by 6 mths

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the STI is so resilient, after all the news abt tapering, china defaulting, russia invading crimea etc still holding firm at 3,000 - 3,100

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I think we have to see STI hitting 2,500 - 2,700 before sentiments can get low enough to affect property

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otherwise expect mass market property price to remain flat. maybe at most drop 5%. Not even enough to compensate for ABSD.

3-mth SIBOR 0.40205%

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3-mth SOR 0.21793%

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hmm.. this mth SIBOR and SOR is still quite decent. :|

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Hearing some buzz that the upcoming lakeside condo project will be launched at $1,300-$1,500 psf.
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If they can move these units, then dont be surprised to see price index actually going up!

How come so high? I thought Jurong area most ulu in Singapore .

lakeville ... newest kid on the block

but quite FAR walking distance from MRT

agent will say stone throw away nia ... you try walk and see

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Parc Vista - the oldest, then come

Lakeholmz

Lakeshore

Caspian

Lakefront

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now Lakeville ... expecting $1300psf [thumbsdown]

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at this price, might as well buy Lakefront (TOP soon) [thumbsup]

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Edited by Wt_know, 19 March 2014 - 09:00 PM.

lakeville ... newest kid on the block

but quite FAR walking distance from MRT

agent will say stone throw away nia ... you try walk and see

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Parc Vista - the oldest, then come

Lakeholmz

Lakeshore

Caspian

Lakefront

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now Lakeville ... expecting $1300psf

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at this price, might as well buy Lakefront (TOP soon)

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And what's Lakefront going for?

Again, some people just dont know how to read between the lines
Reports keep showing, no. of units which doesnt tell much.

Quantum $500-700k is one unit
Quantum $1.5mil to $3mil is also one unit.

So how many of small quantum units are keeping the market "bouyant" ?

Go figure.

*face palm*

Edited by Throttle2, 19 March 2014 - 09:11 PM.

yes, master .....

$500k-$700k is peanut ... all snapped up in no time

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40% downpayment for a $1.5M unit can buy a MM unit cash liao ... hehe

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Again, some people just dont know how to read between the lines
Reports keep showing, no. of units which doesnt tell much.

Quantum $500-700k is one unit
Quantum $1.5mil to $3mil is also one unit.

So how many of small quantum units are keeping the market "bouyant" ?

Go figure.

*face palm*

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Edited by Wt_know, 19 March 2014 - 09:17 PM.

on a separate note

copy&paste from condosingapore

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SGD 10-years performance ... [thumbsup]

with so many CMs and powderful SGD no wonder many cheong to overseas to buy property [:)]

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against USD / HKD, up 35%
against Thai Baht, up 10%
against Ringgit, up 16%
against AUD, up 10%
against NZD, up 2%
against RMB, down 2%
against Euro, up 19%
against yen, up 25%
against GBP, up 46%
against Indian Rupee, up 83%
against rupiah, up 77%
against taiwan dollar, up 22%

long live SGD !!!

Edited by Wt_know, 19 March 2014 - 09:38 PM.

How come so high? I thought Jurong area most ulu in Singapore .

�

yeah, these days most ulu will also command $1300 psf

i feel for this guy ... hard earned money with sweat and blood

next time when you collect key to new unit ... make sure you bring enough stickers

�

Shoddy workmanship at new Yishun EC shocks some residents

�

Edited by Wt_know, 22 March 2014 - 03:32 PM.

i feel for this guy ... hard earned money with sweat and blood
next time when you collect key to new unit ... make sure you bring enough stickers
�
Shoddy workmanship at new Yishun EC shocks some residents
�

�

�

�

�

�

Muayhahahahahahahah
Muayhahahahahahahah
Muayhahahahahahahah
Muayhahahahahahahah

My guess is that this fella is also ngeow one lah....

??????

Edited by Throttle2, 22 March 2014 - 03:37 PM.

the floor i don't know la ... but some of the defects on other pictures i cannot accept [rifle]

some defects that i have seen really "vomit blood" upon completion > TOP > handover to owner

�

seriously, if you asked me i would say high rise condo that was build 10 years ago would withstand stronger to any challenges than the newly built ones

Edited by Wt_know, 22 March 2014 - 03:46 PM.

the floor i don't know la ... but some of the defects on other pictures i cannot accept
some defects that i have seen really "vomit blood" upon completion > TOP > handover to owner
�
seriously, if you asked me i would say high rise condo that was build 10 years ago would withstand stronger to any challenges than the newly built ones

Yah, the floor, i think he nitpick, but the plastering , the sliding door lock etc, cannot pass for sure.

Older condos are more solid for sure.
Nowadays even the high end ones which i hv seen are ok only.
Sigh......what to do.....
Even older watches are more collectable.
Things are not made they used to already.
People are also not......

Edited by Throttle2, 22 March 2014 - 03:53 PM.

the floor i don't know la ... but some of the defects on other pictures i cannot accept

some defects that i have seen really "vomit blood" upon completion > TOP > handover to owner

�

seriously, if you asked me i would say high rise condo that was build 10 years ago would withstand stronger to any challenges than the newly built ones

�

the floor should be gap in-between, common even for HDB flats�

because the wood expand and contract?

�

�

the floor should be gap in-between, common even for HDB flats�

�

because the wood expand and contract?
�
�

Lousy materials or workmanship . Laminate flooring should not have gaps lah . Ceramic titles have gaps.

Muayhahahahahahahah
Muayhahahahahahahah
Muayhahahahahahahah
Muayhahahahahahahah

My guess is that this fella is also ngeow one lah....

??????

�

tat i would agree

yes, you pay what you get
but that does not mean toyota altis should be in poor quality in its class compare to ferrari
not to mention defects which is unacceptable in any price bracket

??????

Edited by Wt_know, 22 March 2014 - 06:33 PM.

yes, you pay what you get
but that does not mean toyota altis should be in poor quality in its class compare to ferrari
not to mention defects which is unacceptable in any price bracket

Of course of course, defects are unacceptable.

But what i mean was the quality of workmanship and attention to details.

Anyway, the developer will make good lah, just that owner sure buay song and for that i say one cent money one cent goods.

Muayhahahahahah

Edited by Throttle2, 22 March 2014 - 07:33 PM.

we need this type of "ngeow" home owner to keep the developer in check ... hahahaha

Edited by Wt_know, 22 March 2014 - 07:46 PM.

we need this type of "ngeow" home owner to keep the developer in check ... hahahaha

Don't think it matters enough to the developer for them to improve on future projects. Its still higher cost for better quality after all.

agree. developer just like car dealer ... they are untoucheable

buyer need them more than they need the buyer

developer just give some discount or voucher rebate ... buyer or home owner ... jaw drop liao ... hehe

�

Don't think it matters enough to the developer for them to improve on future projects. Its still higher cost for better quality after all.

�

Edited by Wt_know, 22 March 2014 - 10:25 PM.

This guy house is penthouse one, took hime whole day to check for sure hahaha and write all these.

Seriously how come the workmanship so poor one? The old condo like parc vista until now sibei solid one. My friend new condo in east building quality very jialat one, cheap materials.

Thats why its important to look for reputable developer. I think if not wrong this EC in yishun is beside the stadium one is it called simi canopy? Developer think not so reowned one

This guy house is penthouse one, took hime whole day to check for sure hahaha and write all these.

Seriously how come the workmanship so poor one? The old condo like parc vista until now sibei solid one. My friend new condo in east building quality very jialat one, cheap materials.

Thats why its important to look for reputable developer. I think if not wrong this EC in yishun is beside the stadium one is it called simi canopy? Developer think not so reowned one

Beside Stadium is Estuary lah. MCL Land is not reputable meh?

Don't confuse with MCC Land hor.

Beside Stadium is Estuary lah. MCL Land is not reputable meh?

Don't confuse with MCC Land hor.

Oh MCL reputable one le. This one beside the stadium one right? See the condo pretty from outside inside cui ah?

Edited by Thaiyotakamli, 23 March 2014 - 12:53 AM.

Oh MCL reputable one le. This one beside the stadium one right? See the condo pretty from outside inside cui ah?

wah change avatar ah?

wah change avatar ah?

Yes old avatar getting ugly [laugh]

stickers no enough for 500 defects ... lol

�

"Mr Tan B K, 48, who bought a penthouse unit for S$1.15 million, said �the standard is definitely not up to the mark�. He claimed that he found more than 500 defects, including a gas pipe that is not connected to the stove. He gave up trying to label all the defects, which he photographed and compiled for the developer. �It is completely unacceptable. If there are more than 10 flaws, it is not a defect anymore, it�s a workmanship issue,� he added."

�

This guy house is penthouse one, took hime whole day to check for sure hahaha and write all these.

Seriously how come the workmanship so poor one? The old condo like parc vista until now sibei solid one. My friend new condo in east building quality very jialat one, cheap materials.

Thats why its important to look for reputable developer. I think if not wrong this EC in yishun is beside the stadium one is it called simi canopy? Developer think not so reowned one

�

I'm Surprised he didn't find more than 5000 from the way he scan thru the penthouse.. Hehehe.. Btw, does the lemon law apply on housing? Can he ask for 1for1 exchange?..

stickers no enough for 500 defects ... lol
�
"Mr Tan B K, 48, who bought a penthouse unit for S$1.15 million, said the standard is definitely not up to the mark. He claimed that he found more than 500 defects, including a gas pipe that is not connected to the stove. He gave up trying to label all the defects, which he photographed and compiled for the developer. It is completely unacceptable. If there are more than 10 flaws, it is not a defect anymore, its a workmanship issue, he added."
�
�
�

$1.15mil , so cheap ar?
Dont complain lah, the defects are part of the price.
He didnt read the fine print
Muayhahahahahah

Edited by Throttle2, 23 March 2014 - 10:44 AM.

it's cheap ... i give you that because a 3br private condo at sibei ulu places like jurong already selling 900sqft x 1300psf = $1.17M

�

$1.15mil , so cheap ar?
Dont complain lah, the defects are part of the price.
He didnt read the fine print
Muayhahahahahah

�

I thought its an ec? And that explains the price?

A penthouse unit for that amount is diet cheap....

big portion is paid for the roof terrace - open space which bring down the psf. hdb close this loop hole liao ... ec largest unit cannot exceed 160sqm now

A penthouse unit for that amount is diet cheap....

it's cheap ... i give you that because a 3br private condo at sibei ulu places like jurong already selling 900sqft x 1300psf = $1.17M
�
�

Lets see how their sales are before commenting.
I'm sure it wont be good

$1.15mil , so cheap ar?
Dont complain lah, the defects are part of the price.
He didnt read the fine print
Muayhahahahahah

EC le

A penthouse unit for that amount is diet cheap....

The rooftop useless space

it's cheap ... i give you that because a 3br private condo at sibei ulu places like jurong already selling 900sqft x 1300psf = $1.17M

�

�

So that defects worth the price? haha

it's cheap ... i give you that because a 3br private condo at sibei ulu places like jurong already selling 900sqft x 1300psf = $1.17M

�

�

�

Acticle say is EC at yishun right , 1st sibeh ulu place , 2nd EC ...� should be around the 700 - 800 range at most .�

The rooftop useless space

I would love a roof terrace.
So regret i didnt build one...damn it...next house, i sure build.

cannot build now? yes, would be inconvenience but can rent apartment to stay for 1-2 months?

I would love a roof terrace.
So regret i didnt build one...damn it...next house, i sure build.

cannot build now? yes, would be inconvenience but can rent apartment to stay for 1-2 months?

Cannot, require at least 4-5 mths and will damage many parts and this land so small i might as well keep the money for a bigger project in future.

�
Acticle say is EC at yishun right , 1st sibeh ulu place , 2nd EC ...� should be around the 700 - 800 range at most .�

That area very ulu, no near mrt, no eateries only can eat grass

I think if not wrong this EC in yishun is beside the stadium one is it called simi canopy?�
�

�

This is The Canopy.

Along yishun avenue 11.�

It's not close to MRT. But it's beside a neighbourhood center. NTUC, 3-4 coffeeshops.

Edited by Lala81, 23 March 2014 - 08:33 PM.

mai hiam la ... if near MRT ... no $2.15M no talk

$1.15M is a steal for penthouse unit liao

5 years later ... no $2M no sell ... huat ah!

Edited by Wt_know, 23 March 2014 - 09:15 PM.

Don't understand why must be near mrt? If I'm that rich, I won't like to live near a mrt... Near mrt means crowds and noise... If rich, buying car is Sup Sup water right? So, with every family member has a car, who take mrt?...

EC has a criteria of household income <$12k

unless got inheritance from parent, else ... with merely $12k total income (official number) to service a $1.15M property, paying taxes, family expenses and maid, and every family member got car, etc ... iras need to look into this fella liao

even he upgrade from selling a $650k hdb (assuming fully paid liao at age 48), still need to take a loan of $500K

but if sell bishan $1M hdb ... good la [thumbsup]

�

i fully agree with you that if buying million dollar property, why must live next to mrt?

sky habitat ... $2M and the buyer said ...� price ok la ... cheap because next to mrt mah ... why not buy not next to mrt $1.5M and buy a porsche ... because porsche cannot use cpf to buy and take 30 years loan ... lol

�

Don't understand why must be near mrt? If I'm that rich, I won't like to live near a mrt... Near mrt means crowds and noise... If rich, buying car is Sup Sup water right? So, with every family member has a car, who take mrt?...

�

Edited by Wt_know, 23 March 2014 - 10:37 PM.

Don't understand why must be near mrt? If I'm that rich, I won't like to live near a mrt... Near mrt means crowds and noise... If rich, buying car is Sup Sup water right? So, with every family member has a car, who take mrt?...

*clap clap clap*
Correct

All the expensive houses in truly atas areas are about serenity and privacy and whos who neighborhood, never about MRT.

Don't understand why must be near mrt? If I'm that rich, I won't like to live near a mrt... Near mrt means crowds and noise... If rich, buying car is Sup Sup water right? So, with every family member has a car, who take mrt?...

Buy EC penthouse is rich meh?

Minimum criteria of rich is must be landed and can park 8 cars inside within the gate compound then is rich mah.

Buy EC penthouse is rich meh?

Minimum criteria of rich is must be landed and can park 8 cars inside within the gate compound then is rich mah.

Rich is relative.... How rich is consider rich is subjective.. . To me, if I can afford to buy a mill dollar penthouse, I don't care about mrt anymore....

Rich is relative.... How rich is consider rich is subjective.. . To me, if I can afford to buy a mill dollar penthouse, I don't care about mrt anymore....

�

Some times it is not about your own convenience, but the convenience of other members in the family who don't drive. I would like to stay near MRT if possible so that my kids can have easy access to PT. They don't have to transfer from MRT to bus or having to walk 20 mins home from station.

�

Unless you are so rich that every members in the family have their own cars, yah then I agree, stay somewhere like what T2 said, atas and privacy.

if kid already P4/5 and above ... Bus Mrt Walk la ... or take school bus ... kid must learn and not spoonfed

�

nowadays parent ... even secondary school liao still chauffer to school door step causing massive jam [thumbsdown]

�

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Some times it is not about your own convenience, but the convenience of other members in the family who don't drive. I would like to stay near MRT if possible so that my kids can have easy access to PT. They don't have to transfer from MRT to bus or having to walk 20 mins home from station.

�

Unless you are so rich that every members in the family have their own cars, yah then I agree, stay somewhere like what T2 said, atas and privacy.

�

Edited by Wt_know, 24 March 2014 - 08:51 AM.

Rich is relative.... How rich is consider rich is subjective.. . To me, if I can afford to buy a mill dollar penthouse, I don't care about mrt anymore....

�

Now a day , 1M condo is entry level lor .� I think got a recent arcticle say about�4 out of 10 Singaporean is a millionair . Hence when everyone is Rich , everyone is Poor - a quote fr Dr M

It is�very likely�family members�who stay in a 1M condo depends on MRT alot.

Edited by Jasonjst, 24 March 2014 - 10:51 AM.

you are absolutely right, else $1M-$1.25M condo near MRT will not move like hot cakes

in today market,

$300k-$450k hdb is entry level

$1M condo is entry level > if private condo, can only get you 2B or 3B (sibei compact) 750sqft to 850sqft nia

if you go showroom ... agent ask you what is your budget ... you said $1M ... agent will tell you your options are only MM (invest) or 2B (live in)� factoring ABSD, etc

�

�

Now a day , 1M condo is entry level lor .� I think got a recent arcticle say about�4 out of 10 Singaporean is a millionair . Hence when everyone is Rich , everyone is Poor - a quote fr Dr M

It is�very likely�family members�who stay in a 1M condo depends on MRT alot.

�

Edited by Wt_know, 24 March 2014 - 11:17 AM.

stickers no enough for 500 defects ... lol

�

"Mr Tan B K, 48, who bought a penthouse unit for S$1.15 million, said �the standard is definitely not up to the mark�. He claimed that he found more than 500 defects, including a gas pipe that is not connected to the stove. He gave up trying to label all the defects, which he photographed and compiled for the developer. �It is completely unacceptable. If there are more than 10 flaws, it is not a defect anymore, it�s a workmanship issue,� he added."

�

�

�

�

seriously, a lot of buyers are delusional that they are entitled to good worksmanship just because they paid over a million

�

Pls check what is the proportion of price paid for the land

�

In fact, developers have less budget for construction these days compared to 10 yrs ago when condos were selling for just $600 psf.

�

All thanks for SG real estate bubble inflated by govt

Rich is relative.... How rich is consider rich is subjective.. . To me, if I can afford to buy a mill dollar penthouse, I don't care about mrt anymore....

�

Million dollar EC penthouse very dai sai???

�

There are a lot of other developments where it has been amply proven that proximity to MRT matters even when the condo goes for way above 1 million.

�

MRT still comes into consideration because the target group are not your GCB type or 1 rung below GCB types.

�

Case in point:

http://business.asia...ar-mrt-stations

Lets see how their sales are before commenting.
I'm sure it wont be good

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i havent been to the showflat, but got photos of the showflat. The rumour is cheques are collected left right center

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Pricing is rumoured to be $1,300 - $1,400 psf

�

700 units in project, i would expect it to sell close to 300 units in the opening weekend. Will that be considered as poor (>50% takeup)?

i feel for this guy ... hard earned money with sweat and blood

next time when you collect key to new unit ... make sure you bring enough stickers

�

Shoddy workmanship at new Yishun EC shocks some residents

�

�

�

�

LOL china developers...�

location, location, location

in any property market ... after all the euphoria

eventually, people will come back to basic

near MRT ... cannot sell at sibei good price that you want, surely can get tenant and milk the cashcow

�

when it come to landed and luxury condo ... the target buyers are different ... who take mrt?

Edited by Wt_know, 24 March 2014 - 11:24 AM.

median price ... $1300psf ... this is entry level liao !

yeah ... hearsay ... jurong ... $1300psf also sales like pasar malam ... any cheaper ... i think people might start to fight liao ... LOL

�

Prices dip for housing units at uncompleted projects

Published on Mar 19, 2014

By Melissa Tan

SELLING prices at some uncompleted projects have fallen over the past three months - by anything from just over 1 per cent to 7 per cent - possibly as developers aim to clear units that have been on the market for some time.

Urban Vista in Tanah Merah, The Glades nearby and D'Leedon have all recorded declines in their median prices from December to last month, Urban Redevelopment Authority (URA) figures show.

Consultants said developers could be facing pressure to give discounts due to stiff competition from newer launches. "But most of the projects will still try to maintain prices as much as possible," R'ST Research director Ong Kah Seng said.

OrangeTee research head Christine Li noted that a median price drop does not necessarily mean that developers reduced prices for the whole project.

Analysts added that it could also mean developers sold more bigger units, which draw lower prices on a per square foot (psf) basis, than in previous months.

The URA private property price index could still hold steady in the first quarter or even rise slightly from the preceding quarter, Ms Li added.

At Urban Vista in Tanah Merah Kechil Link, waiting two months could save a buyer over $50,000. For instance, an 850 sq ft unit sold for $1,131,953 on Dec 3, but a similar unit on a higher floor in the same block sold for $1,080,000 on Feb 27, according to caveats lodged with the URA.

The median price for new sales at the project slid from $1,345 psf in December to $1,291 psf in January, down 4 per cent.

The project by Fragrance Group and World Class Land sold eight units in December and seven in January. The median price sank a further 2.4 per cent to $1,259 psf in February, a month when 22 homes were sold. This brought the cumulative sales to 554 out of 582 units at the end of last month - a take-up rate of 95 per cent.

Many more units are unsold across the road at Keppel Land's The Glades. The 726-unit project in Bedok Rise, launched in September last year, had moved 140 units by the end of last month.

The median price for new home sales at the project declined by 6.2 per cent from $1,477 psf in December to $1,385 psf in January. It slipped another 1.7 per cent to $1,362 psf in February, while notching up 14 sales that month.

Prices at The Glades are slightly higher than those at Urban Vista, partly because its developer paid more for the land.

CapitaLand's D'Leedon also saw median prices fall by 7.4 per cent for new sales, from $1,512 psf in December to $1,400 psf in January. There was a further dip of 1 per cent to $1,386 psf last month.

The project at Leedon Heights moved between two and five units in each of those three months. It had sold 1,442 of its 1,715 units by the end of last month.

.com.sg'>melissat.com.sg

Edited by Wt_know, 24 March 2014 - 12:08 PM.

I would like to disagree. Every buyer of a property, regardless of how much he has paid for it, deserves good worksmanship if it was promised as part of the package.�

�

Should the seller not be able to deliver good worksmanship if it was part of the package at the point of purchase, it is simply misrepresentation and he should be answerable to the buyer for that shortfall in delivery.

�

�

seriously, a lot of buyers are delusional that they are entitled to good worksmanship just because they paid over a million

�

Pls check what is the proportion of price paid for the land

�

In fact, developers have less budget for construction these days compared to 10 yrs ago when condos were selling for just $600 psf.

�

All thanks for SG real estate bubble inflated by govt

�

I would like to disagree. Every buyer of a property, regardless of how much he has paid for it, deserves good worksmanship if it was promised as part of the package.�

�

Should the seller not be able to deliver good worksmanship if it was part of the package at the point of purchase, it is simply misrepresentation and he should be answerable to the buyer for that shortfall in delivery.

�

�

�

yes, every buyer is entitled to good worksmanship

�

my comment was in jest/ sarcasm

�

from experience hearing from buyers that the quality of finishing (not worksmanship) is so crappy given that they are paying millions of dollars. Eg Sail Marina in the past, and nowadays suburban or even prime condos

�

Not to say all china developers proj are lousy (natura loft was quite good), but i would also lower my expectation and also price expectation when buying from a china firm

median price ... $1300psf ... this is entry level liao !

yeah ... hearsay ... jurong ... $1300psf also sales like pasar malam ... any cheaper ... i think people might start to fight liao ... LOL

�

�

�

tanah merah $1,300 psf.. who'd have thought? Just a few years ago, we'd underwritten a bid for GLS there based on $800 psf selling, thinking that we were already stretched to almost the max LOL

�

Yeah, heard that jurong launch is super hot. over 2,000 groups of interested people viewed the showflat over the weekend.

�

Wonder how many cheques were collected?

�

could be another fish market on preview day where people end up in tears for not getting a unit LOL

Sorry for missing the sarcasm in your post.�

�

�

yes, every buyer is entitled to good worksmanship

�

my comment was in jest/ sarcasm

�

from experience hearing from buyers that the quality of finishing (not worksmanship) is so crappy given that they are paying millions of dollars. Eg Sail Marina in the past, and nowadays suburban or even prime condos

�

Not to say all china developers proj are lousy (natura loft was quite good), but i would also lower my expectation and also price expectation when buying from a china firm

�

tanah merah $1,300 psf.. who'd have thought? Just a few years ago, we'd underwritten a bid for GLS there based on $800 psf selling, thinking that we were already stretched to almost the max LOL

�

Yeah, heard that jurong launch is super hot. over 2,000 groups of interested people viewed the showflat over the weekend.

�

Wonder how many cheques were collected?

�

could be another fish market on preview day where people end up in tears for not getting a unit LOL

�

Yeah, heard that jurong launch is super hot. over 2,000 groups of interested people viewed the showflat over the weekend.

Wonder how many cheques were collected?

could be another fish market on preview day where people end up in tears for not getting a unit LOL

�

ABSD? TDSR? so many rich people ah?�

Edited by Taggy, 24 March 2014 - 01:27 PM.

Sorry for missing the sarcasm in your post.�

�

�

�

haha no fault of yours bro

�

i seldom post anything serious

�

ABSD? TDSR? so many rich people ah?�

�

no lah, not rich

�

just that they factored all these SD into buying price

�

plus lower their expectations. last time can aim for 1,200 sqft, today just aim for 900 sqft�

�

both also 3 bedrooms what haha

�

developers will make their wish come true by creatively squeezing in more for less�

mass market pricing is $1.5M and below ... affordably-priced [:)]

�

how much to lowball for auction property? any tips? hehe

�

Auction property sales to fall 24% to $80m this year

�

Buyers to remain cautious.

�

According to Colliers International, considering the current inertia�in the property market, it is expected that the number of properties�put up for mortgagee sale will continue to increase, particularly in�the high-end residential and retail sectors.�Ms Grace Ng (???), Deputy Managing Director of Colliers�International, said �Affordability will still be the main concern�among buyers. Buyers will continue to look for affordably-priced�properties such as those below S$1.5 million.

�

Although buyers are expected to remain cautious � in light of the�impending interest rates increase and the potential upcoming supply,�which will put pressure on prices � sales activity is expected to pick�up over the next two quarters, as both buyers and sellers gradually�adjust their expectations to work towards market equilibrium.�

�

She concludes, �The total sale value for the Singapore auction�property market is expected to come in at between S$70 million and S$80 million for the whole of 2014, a decrease of some 13-24 per cent�from the total sales value in 2013.�

�

Edited by Wt_know, 28 March 2014 - 11:14 PM.

location, location, location
in any property market ... after all the euphoria
eventually, people will come back to basic
near MRT ... cannot sell at sibei good price that you want, surely can get tenant and milk the cashcow
�
when it come to landed and luxury condo ... the target buyers are different ... who take mrt?

No wonder I'm not millionaire and don't think I will be one.. .. I prefer to live in hdb and drive then stay in condo but take mrt.... Hehehe...

like squeezing orange to the last drip

�

Property buyers sued over 'lost opportunity' costs

�

CONDOMINIUM developer is suing an "obstinate" man and his wife for more than $760,000, claiming they built two unauthorised timber lofts in their penthouse apartment.

Developer Macly Assets alleges that Mr and Mrs Andrew Loke are to blame for the delay in it obtaining the certificate of statutory completion from the Building and Construction Authority (BCA).

Macly alleges that the certificate for the Thomson V Two project at Sin Ming Road was meant to have been issued in March last year but it was only granted last November because of the couple's unauthorised renovation.

This meant that a $5 million sum, paid by the flat buyers and held in a stakeholding account, was tied up longer than it should have been when it could have been used for other purposes.

Macly is trying to claim $760,782.96 in "lost opportunity" costs from the couple in a three-day High Court hearing that started yesterday.

Mr Loke, 42, a chief financial officer, and his 37-year- old teacher wife bought the 60 sq m apartment in 2007 for $600,000, before it was built.

They started renovating the unit after the temporary occupation permit for the development was issued in June 2012.

Mr Loke got his contractors to build two 7 sq m lofts, one above the hall and the other over the bedroom.

In January last year, BCA officers visiting the couple's unit to check other defects chanced upon the lofts and told Mr Loke that the structures did not comply with regulations.

Two months later, BCA said it would withhold issuing the certificate for the property until several "deviations" were fixed.

Macly asserts it had fixed the other items cited by the BCA but the Lokes were uncooperative in removing the lofts.

In May, BCA ordered them to be demolished. Mr Loke then changed the timber decks to softboard materials to make the structure non-load-bearing and the BCA lifted the order in September.

Macly's lawyer, Mr N. Kanagavijayan, said in his opening statement yesterday that the lofts were built without the developer's permission, breaching the sale and purchase agreement that the couple signed.

But the Lokes, represented by Mr Mahmood Gaznavi, said Macly and its managing agent were aware that the renovations included the timber decks and did not object to them.

The couple also pointed out that other owners in the condo had built similar loft structures in their units.

�

Edited by Wt_know, 28 March 2014 - 11:25 PM.

mass market pricing is $1.5M and below ... affordably-priced

�

how much to lowball for auction property? any tips? hehe

�

�

�

Just a few years back, consultants are saying that developers have to keep mass market below $1.2m to move. Otherwise no buyer will bite with all the cooling measures

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now it is $1.5m?

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looks like middle income grp upgraders are able to stretch their budget further and further

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would it creep up slowly? $1.6m by next year? LOL

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ABSD? TDSR? so many rich people ah?�

I think ABSD kinda make Singaporean think twice on buying additional properties, TDSR kinda make foreigners having difficulties buying properties here.

No wonder I'm not millionaire and don't think I will be one.. .. I prefer to live in hdb and drive then stay in condo but take mrt.... Hehehe...

thinking is self fulfilling prophecy bro.. haha

cham liao� [:(]

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Developers crank up marketing machine

Seminars at showflats, multiple agencies among tools used as launch sales dry up

LYNETTE KHOO

.com.sg'>lynkhoo.com.sg

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Some developers engage multiple marketing agencies for one project, offer higher commission to agencies for specific projects and discounts to buyers for a limited period�- PHOTO: SPH

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More developers may promise the 'first-year rental guarantee' to buyers because of increased new completions.
-�Ong Kah Seng, director of R'ST Research

Downward trend

[SINGAPORE] In yet another sign of tepid private residential sales, the proportion of projects that managed to move more than half of their units in the month of their launch has declined significantly last year.

This has prompted developers and their marketing agencies to deploy more marketing tools to draw more potential buyers to their showflats.

Some developers engage multiple marketing agencies for one project, offer higher commission to agencies for specific projects and discounts to buyers for a limited period. Property agencies have also turned to their favourite tool - holding seminars at show flats to draw in the crowds.

Data collated by OrangeTee Research shows that the proportion of projects with more than half of their total available units sold in the month of launch fell to 21 per cent in 2013, down from 31 per cent in 2012 and below the 27 per cent level seen in the 2009 recession year.

The month of launch is typically crucial for developers to move their units quickly as interest for new launches tend to wear off after the initial weeks of the launch. The subscription rate takes into account the total number of units in each project as developers will roll out more units for sale when there is demand for it.

Going by this measure, 2010 remained a banner year for the private property sector, where 50 per cent of projects launched that year sold more than half of their total available units.

Property consultants believe that the downward trend will continue this year. This is leaving developers scratching for more ideas to entice buyers besides the current price discounts and rebates offered.

"The main factor driving this decline is that the total debt servicing ratio (TDSR) framework and the additional buyers stamp duty (ABSD) is reducing investment demand. Even an HDB upgrader with an outstanding mortgage on his existing flat, who wants to buy a condo unit for his own use, will have his available loan for the condo unit reduced by the TDSR framework," said SLP International executive director Nicholas Mak.

"Under pressure to push sales, some agents may direct clients towards potential projects that pay highest commission or have the best chance of closing the deal, swinging buyers from one project to another because the agents' loyalty is to themselves," he said.

Ong Kah Seng, director of R'ST Research, noted that the restriction of having no shoebox units in Outside Central areas in 2013 also affected the pace of sales in the first month of launch, as shoebox apartments were quickly snapped up in previous years. He predicts that more developers may promise the 'first-year rental guarantee' to buyers because of increased new residential completions in the years ahead.

The slower market pace has already prompted some developers to appoint multiple marketing agents in the hope of pushing sales more quickly.

For The Santorini project in Tampines launched by MCC Land over the weekend, the developer has engaged four marketing agencies that include two of Singapore's largest agencies PropNex and ERA Realty, as well as GPS Alliance and CBRE Singapore.

"Under the current market conditions, working with multiple marketing agencies would help cast a wider net in reaching out to more prospective buyers," a MCC spokesman told BT, adding that this does not translate to higher costs for the developer as fees to marketing agencies is paid upon sales.

It is not common to see four agencies joining forces or having two large agencies for one single project, said Christine Li, head of research at Orangetee. PropNex and ERA each have over 5,000 agents in Singapore.

For Singapore Land's prime 106-unit project Pollen & Bleu at Farrer Drive, the developer has appointed three agencies - Huttons, Savills and CBRE.

Property consultants note that for projects with multiple marketing agencies, it is unclear if each agency would give its fullest commitment. It also requires greater coordination between the developer and its marketing agents.

"There is a point of diminishing returns," one industry veteran noted.

City Developments Limited (CDL) has added two more marketing agents - OrangeTee and SLP Realty - early this year to market its project Jewel Buangkok with Huttons. The 616-unit development has so far sold 401 units since its launch in June last year.

Just over a week ago, a parenting seminar was held at the project's showflat with an invited speaker from Touch Family Services. Huttons is soon holding a property seminar at the showflat this Saturday, where the agency's director of business and research, Bernard Lee, will talk about the potential impact of URA draft master plan 2013 on property supply and demand.

CDL spokeswoman said that events held for Jewel and other launches "have been planned with a view towards enriching potential homebuyers' knowledge of and exposure to topics of interest such as property update seminars by industry experts and talks on fengshui".

"Some events such as parenting talks and children's enrichment activities were also organised to coincide with festive celebrations such as Mid-Autumn and school holidays, as a form of outreach and engagement with our customers and their families," she said.

SLP International's Mr Mak will be speaking on URA's master plan for Woodlands at Twin Fountains, an executive condominium project by Frasers Centrepoint. ERA and SLP are the marketing agents for this project.

Elson Poo, general manager for sales and marketing at Frasers Centrepoint Homes, said the talk is meant to "educate people who are not familiar with Woodlands to see the potential of living in Woodlands and hopefully to drive some sales".

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Sales at The Santorini disappoint

Only 80 of the 200 units released at the 597-unit condo's weekend launch sold

LEE MEIXIAN

.com.sg'>leemx.com.sg

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The Santorini:�The units sold at the 'Mediterranean-inspired' Tampines condominium are mostly one and two-bedders, says MCC Land.�- FILE PHOTO

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OF the 200 units released at The Santorini's launch over the weekend, only 80, or 40 per cent, have been sold, leading analysts to suggest that the market is tiring of too much supply of similar mass-market projects, particularly ones with low-quantum compact units.

The units sold at the "Mediterranean-inspired" Tampines condominium were mostly one and two-bedroom units, a spokesman for developer MCC Land (Singapore) Pte Ltd told BT. This was expected, since over half of the condominium's 597 units are one and two-bedders.

Compact units have become the rage since the Total Debt Servicing Ratio (TDSR) framework rolled out last June lowered the loan-to-value limits for buyers who have an existing home mortgage and are still looking to buy more residential properties.

Buyers have therefore had to scale down their sights to lower-quantum investment property purchases.

"For most middle-class buyers, this is all they can afford as a second property. The TDSR framework has restricted the liquidity in the market," said SLP International research head Nicholas Mak.

Prices at The Santorini start from $508,200 for the smallest unit, a 463-sq-ft one-bedder.

From the developer's point of view, selling units at "small quantum with higher-dollar per square foot prices" will also help it to break even more easily, given the high price at which it bid the land for - at $562.01 per square foot per plot ratio - for a plot not walking distance to the MRT station and in an area with quite a lot of new supply, Century 21 chief executive Ku Swee Yong said.

He estimates that more than 25,000 units will come onstream in the Punggol, Sengkang, Tampines and Pasir Ris area in the next three to four years.

Price at The Santorini's units average $1,100 per sq ft, slightly higher than the nearby Waterview and Q Bay Residences condominiums.

Looking ahead, most consultants believe that the appetite for one and two-bedders will dwindle.

Mr Ku said: "It will be tougher to find additional new sources of buyers even at the $500,000 mark. This segment of mass market buyers buying at low quantum may have been exhausted already."

He added that compact investment units are also untested in terms of rentals. Referring to The Santorini development, he said: "How many people will be looking to rent a one-bedroom of about 500 sq ft? What sort of rents can you get? Would a renter rather take a three-room HDB flat that he can share with a colleague for $2,000 a month, or pay for a much smaller room with more facilities? It's a bit of a struggle."

But Chesterton Singapore managing director Donald Han thought otherwise. He sees the trend of developers releasing and buyers snapping up low-quantum small units continuing.

"The sweet spot is really $800,000 and below - which is what one- and two-bedroom units are targeting at," he said. "The fact that The Santorini can sell 80 units is deemed a fairly good number to achieve in a slowing market."

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Thứ Tư, 4 tháng 1, 2017

Rupiah/Rupee at risk, SG/HK risk property bubble part 21

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