mycarforum: Rupiah/Rupee at risk, SG/HK risk property bubble part 33

edmw is 20k jin satki

here is no 400k no talk

lagi satki

i think i better leave MCF

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even edmw also too rich for me

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[:(]

ot ot liao

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nope, i rather sell new projects. First, there is no need for me to try to negotiate price, it is take it or leave it and i am happy to work with multiple agents if it means selling more units.
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second, in today's market it is so much easier to move new projects than resale. An average agent who does resale can probably close a deal or two each month. An average agent who does new projects can easily do twice that number.�
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based on my little bit of corporate experience, i recalled my ex bosses would set very easy KPIs for us as it would also translate very easy KPIs for themselves. So end up everyone sure get maximum bonus each year with ease. No conflict of interest between employees for sure, but i can't say for the shareholders. Mind you, it was a major financial institution, and is still around today after the financial crisis.

A bank paying its loan approving office a percentage of all loans approved will go bust fairly soon. Conflict of interest. [laugh]

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400k ?? Can only dream ba .. Maybe I go read up more on the experts postings on property here in MCF , maybe maybe got chance .... Now jobless , boss ask me take long long leave to do gardening lei ...

Wah lau you own the business of course you jobless lah.
Your employees working for you mah

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picture is missing something

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i can't put my finger on it

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picture is missing something

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i can't put my finger on it

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A miniature watch on the finger?

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picture is missing something
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i can't put my finger on it
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My fault, plse forgive me......am wearing one of my cheapest Rolexes so i paiseh to show.

who is the expert ... who who who?

nabei ... previously, again and again said no worry of oversupply

now use the word glut ... glut is better than oversupply?

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this one is the best [thumbsup]

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'Steady increase'
in number of
unsold private units

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Fears of private housing glut, poor
rental marketing hurting sales: Experts

Edited by Wt_know, 29 July 2014 - 01:57 PM.

A bank paying its loan approving office a percentage of all loans approved will go bust fairly soon. Conflict of interest.

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yes it should. But in today's environment, it would take fairly long to go bust

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not so easy anymore� [laugh] � [laugh]

Won't bust one most of the time the debts can be recovered in time, it is always the buggers which does massive losses like the bankers or the investment bankers which cost too much during a downturn which causes the bank to bankrupt.

Never the credit dept, trust me. What is wrong with a few bad debt which is already priced in? Good times we make bad times we lagi make, ask those bankers to recover debt lor

Edited by CH_CO, 29 July 2014 - 03:45 PM.

Won't bust one most of the time the debts can be recovered in time, it is always the buggers which does massive losses like the bankers or the investment bankers which cost too much during a downturn which causes the bank to bankrupt.

Never the credit dept, trust me. What is wrong with a few bad debt which is already priced in? Good times we make bad times we lagi make, ask those bankers to recover debt lor

That is because no bank in history is foolish enough to pay the credit department/ approving officers based on percentage of all loans approved. Loans are still the largest business segment of most commercial banks.

Ooooi mai siao siao, Credit dept not easy to earn $400kpa, CHCO must be some big shot leh

hahaha ... credit dept lose money?

before you know it ... your car ... your house ... your rolex (under 50mths installment) ... your underwear kena reposses liao

Edited by Wt_know, 29 July 2014 - 09:53 PM.

Ooooi mai siao siao, Credit dept not easy to earn $400kpa, CHCO must be some big shot leh

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Haha you are wrong , if the job can pay me this kind of money good loh , haha it is rental and my side income.

Edited by CH_CO, 30 July 2014 - 06:42 AM.

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Haha you are wrong , if the job can pay me this kind of money good loh , haha it is rental and my side income.

Like that even better. So combined income $650k pa already!

Wah if i got rental and side income $400k pa, i will retire already.

Like that even better. So combined income $650k pa already!

Wah if i got rental and side income $400k pa, i will retire already.

Just leverage to the hilt lor buy 10-20 property,, given your wealth can one but sad to say if 650k it is for u. I wear casio lor , don't even have a rolec

For me unless it crash and burn Haha my annual growth won't jump to 650k and I don't intend to pay more taxes.

Edited by CH_CO, 30 July 2014 - 08:53 AM.

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Let us call longkang, a longkang
If a longkang can be called waterfront, then the HDB flats at Clementi Avenue 5 also have waterfront view.
I am referring to the one near Provost and Pandan Valley.

Bro, I stay there leh...don't call my river a longkang ok?? haha!!�

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Bro, I stay there leh...don't call my river a longkang ok?? haha!!�

Sorlie...sorlie.

Flat glut: Developers grapple with unsold flats as supply goes through the roof

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assuming 30% unsold. there is 50,000+ units waiting to be lowball? [laugh]

opps ... hdb cannot lowball leh ... fixed price by ah gong ... hehe

hdb developer no worry right ... ah gong will settle the payment for unsold flats

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Almost 175,000 units are expected in the next 3 years.
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Both private condos and HDB flats are increasing at a staggering rate, with almost 175,000 new units expected to crowd the property market within the next 3 years. This in turn will only drag prices further.

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According to PropertyGuru�s Outlook Report for H2 2014, a further 65,128 private condos are expected to be completed between this quarter and end 2016, while 108,000 HDB flats will come onstream from 2014 till 2017.

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For private developers, the amount of vacant units up for sale is expected to be much larger than this as a result of spillovers from the year before.

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�This cycle of remnant units will continue to have a domino effect on prices year- on-year
in the long run, adding further pressure on developers to offer discounts and incentives to purchase their projects,� noted the report.

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Meanwhile, the large supply of HDB flats market will influence the amount of resale flats in the market in the next 3-5 years.

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�Current flat owners are more likely to set their sights on the resale HDB market rather than purchase another BTO. This is because second-time applicants must have a monthly household income of less than $12,000 to qualify for a BTO as well as the fact that they are not as favoured as compared to first-timers with families (70 to 95 percent of BTO flats are set aside for the latter). As such, the effect of higher

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BTO supply on resale demand is low � at least for the short term,� stated the report.

Edited by Wt_know, 30 July 2014 - 03:15 PM.

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Sorlie...sorlie.

No problem bro...just joking!

Actually I agree that it looks like a big longkang. Lots of friends said so as well. At best it's a canal but ofiicially it's Geylang River!!! �

flood is good , more young people can buy cheap housing . It is good for the future.

Yawn!

Agent huat ah, got so many units to sell

ok guys im gona take foto of those empty new condos along river valley area n post here...

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in fact any got see other empty blocks pls contribute :)

Can lowball liao?

not yet ... trust the rolex king ...

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Can lowball liao?

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not yet ... trust the rolex king ...
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Who the hell is that?

For such decisions, trust no one but yourself.

No worry guys just need some CMs measure to be taken off and within a year these supplies gone

These CMs are all CMI. They had no effect whatsoever, some even helped property chiong, LOL! If you remember, that's how MBT became "popular". So removing CMs does the opposite, to cool down property instead of helping. Of course, we know the only effective CM was the last one: TDSR. But we also got QE taperring and iminent interest rate increase, so do your own calculations. It's safe to say that the mid-term outlook for SG property isn't good.

These CMs are all CMI. They had no effect whatsoever, some even helped property chiong, LOL! If you remember, that's how MBT became "popular". So removing CMs does the opposite, to cool down property instead of helping. Of course, we know the only effective CM was the last one: TDSR. But we also got QE taperring and iminent interest rate increase, so do your own calculations. It's safe to say that the mid-term outlook for SG property isn't good.

For the younger generation who have not seen the cycle, property can never come down.

QE and interest rate, rising supply and vacancy are just not factors driving the market???

do I hear sour grapes

i wont say where, but some places asking price i havent seen in a few yrs... as in reverse backwards to few yrs ago prices...

Edited by Duckduck, 01 August 2014 - 12:08 AM.

Yup and people who believe in the reported psf prices of new projects are fools or three year olds.

Take at least 10-15% off those psf prices as developers are absorbing fees and giving vouchers just to hold psf up....for fear of fear hitting the mkt

do I hear sour grapes

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No problem. In few years we will know who are those sour grapes and who are those who will cry father cry mother blaming govt this and that.

For the younger generation who have not seen the cycle, property can never come down.

QE and interest rate, rising supply and vacancy are just not factors driving the market???

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QE and int rates are direct factors. TDSR is also quite an impt factor. Supply and vacancy are just the results of these factors.

Edited by Pmet, 01 August 2014 - 12:45 AM.

Yup and people who believe in the reported psf prices of new projects are fools or three year olds.

Take at least 10-15% off those psf prices as developers are absorbing fees and giving vouchers just to hold psf up....for fear of fear hitting the mkt

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haiz, i don't know how come all the developers i am marketing for don't give this type of 10% vouchers you are mentioning...

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it would definitely allow me to sell more if they did

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haiz

foresque residences by wing tai also given out 5% funrniture cash voucher leh ...

u no market ar? can help wingtai to sold out FR [thumbsup]

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haiz, i don't know how come all the developers i am marketing for don't give this type of 10% vouchers you are mentioning...

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it would definitely allow me to sell more if they did

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haiz

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Edited by Wt_know, 01 August 2014 - 09:43 AM.

foresque residences by wing tai also given out 5% funrniture cash voucher leh ...

u no market ar? can help wingtai to sold out FR

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5% only? not 10% to 15% meh?

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anyway FR that one stale already lah,�

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now ppl all chiong brand new launch only... busy like hell

last week i drove passby lakeside and see lakeville ... nabei the showroom is in JEM

how come huh?

no face to build a showroom at lakeville site? brochure stated walking distance to lakeside mrt ... wakao ... sibei far leh

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5% only? not 10% to 15% meh?

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anyway FR that one stale already lah,�

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now ppl all chiong brand new launch only... busy like hell

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haiz, i don't know how come all the developers i am marketing for don't give this type of 10% vouchers you are mentioning...
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it would definitely allow me to sell more if they did
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haiz

Plse read my post carefully. I didnt say 10% vouchers.

Absorb stamp duty is already 10% for some.
Other furnishing vouchers probably 3-5%
Some give other shopping vouchers .

My message is clear.
Dont be fooled by developers psf prices.
The actual psf is much lower.
All this is done to prop up the ailing market.
Otherwise, you will se psf price tumble like crazy and the selldown will happen.

Well, it is happening only a bit later and more gradual.

Congrats on your tremendous sales, by the way.
You are probably one of the top agents in town.
Wonderful.

last week i drove passby lakeside and see lakeville ... nabei the showroom is in JEM

how come huh?

no face to build a showroom at lakeville site? brochure stated walking distance to lakeside mrt ... wakao ... sibei far leh

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u know lah

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marketing tactics. Showflat in nicer location to make u feel like your actual unit is in that nicer location

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walking distance is subjective. If anyone sues the developer for misrep, i'm sure MCL executives will all come down and show you they can walk from the site to MRT station (in 30 mins)

Plse read my post carefully. I didnt say 10% vouchers.

Absorb stamp duty is already 10% for some.
Other furnishing vouchers probably 3-5%
Some give other shopping vouchers .

My message is clear.
Dont be fooled by developers psf prices.
The actual psf is much lower.
All this is done to prop up the ailing market.
Otherwise, you will se psf price tumble like crazy and the selldown will happen.

Well, it is happening only a bit later and more gradual.

Congrats on your tremendous sales, by the way.
You are probably one of the top agents in town.
Wonderful.

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i see, so the selldown not happening now

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only a bit later and more gradual hehee

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i think u're mistaken again, i only make average sales. Enough to survive in the industry.

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I do hope to become one of the top agents in town, then can also buy mutiple properties like most of the buyers i meet everyday!

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[thumbsup] � � ��

Edited by Wyfitms, 01 August 2014 - 11:19 AM.

now ppl all chiong brand new launch only... busy like hell

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everyone buying the newest prop, then old ones nobody buy & rents falling...

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i spot a fundamental divergence, & dont even need to talk abt interest rates.

Edited by Duckduck, 01 August 2014 - 11:23 AM.

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everyone buying the newest prop, then old ones nobody buy & rents falling...

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i spot a fundamental divergence, & dont even need to talk abt interest rates.

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been happening since global financial crisis in 2008

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No problem. In few years we will know who are those sour grapes and who are those who will cry father cry mother blaming govt this and that.

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QE and int rates are direct factors. TDSR is also quite an impt factor. Supply and vacancy are just the results of these factors.

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Seriously , easy money is never a good way to grow business , everyone knows that. Why would i be crying mother and father when i already expected it to happen?

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The ones which are crying are the ones which jump in the ship and watch it sink .

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Why is this happening ? Greed !

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1. Greed from developers big small new old , typically the small ones which think they can jump on the bandwagon and sell . The biggest ones have enough cash to hold those empty units. Always the smaller ones with no experiences which takes the first hit..

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2. Greed from property speculators thinking they can make a quick buck from an investment without thinking whether if the timing is right. Especially dumbos which think economies will forever go up.

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3. Greed from the garmen to sell land at ex prices and not stop the sharp property rises which makes living in singapore so tough and now despite everything we are the most expensive in the world. So is our ministers. Look at their pay , they need to justify their pay , these people are no longer doing things for the people but themselves.

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4. Greed from property agents , many claim to be gurus after they made easy money from 2009 thinking that they can flip a few units and make , now only to vomit all of those and sitting on a pile of debts. Why i know ? My job.

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5. Greed from banks , loose loans from easy money makes every feel rich when they aren't. Anyone can easily have cash of up to more than 10x their earnings.

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So who is crying?? Everyone. Those who aren't are those holding cash or debt free. oh ya and those which missed the bandwagon and hoping for everything to crash for them.

Edited by CH_CO, 01 August 2014 - 12:00 PM.

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u know lah
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marketing tactics. Showflat in nicer location to make u feel like your actual unit is in that nicer location
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walking distance is subjective. If anyone sues the developer for misrep, i'm sure MCL executives will all come down and show you they can walk from the site to MRT station (in 30 mins)

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i see, so the selldown not happening now
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only a bit later and more gradual hehee
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i think u're mistaken again, i only make average sales. Enough to survive in the industry.
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I do hope to become one of the top agents in town, then can also buy mutiple properties like most of the buyers i meet everyday!
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Let me be clearer

The selldown is happening now. It should have started earlier but instead started later becos of many many preventive moves to "bluff" the market. The intensity which should have been stronger is more gradual becos of the extended low rates.

Let me be clearer

The selldown is happening now. It should have started earlier but instead started later becos of many many preventive moves to "bluff" the market. The intensity which should have been stronger is more gradual becos of the extended low rates.

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Standby to load...

???

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been happening since global financial crisis in 2008

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no leh i bot a subsale in 2009 then flipped out coz there was momentum. on hindsight if i didnt flip out i may still b looking for a buyer now for may older prop... thats the reason i see many old property prices falling, & this area is also where i see value.

blah blah blah

http://www.straitsti...prices-20140801

blah blah blah

http://www.straitsti...prices-20140801

Haha whats new bro?

what's new ... what else can we expect come out from the property developer mouthpiece ... somemore china developer

are we expecting mr kwek cry papa cry mama story to be published soon? [sly]

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Edited by Wt_know, 01 August 2014 - 02:15 PM.

Haha whats new bro?

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warn also warn liaoz write to garmen also write liaoz , even consultant papers i also issue before. haha good times bad times only pigs get slaughtered.

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Seriously , easy money is never a good way to grow business , everyone knows that. Why would i be crying mother and father when i already expected it to happen?

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The ones which are crying are the ones which jump in the ship and watch it sink .

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Why is this happening ? Greed !

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1. Greed from developers big small new old , typically the small ones which think they can jump on the bandwagon and sell . The biggest ones have enough cash to hold those empty units. Always the smaller ones with no experiences which takes the first hit..

�

2. Greed from property speculators thinking they can make a quick buck from an investment without thinking whether if the timing is right. Especially dumbos which think economies will forever go up.

�

3. Greed from the garmen to sell land at ex prices and not stop the sharp property rises which makes living in singapore so tough and now despite everything we are the most expensive in the world. So is our ministers. Look at their pay , they need to justify their pay , these people are no longer doing things for the people but themselves.

�

4. Greed from property agents , many claim to be gurus after they made easy money from 2009 thinking that they can flip a few units and make , now only to vomit all of those and sitting on a pile of debts. Why i know ? My job.

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5. Greed from banks , loose loans from easy money makes every feel rich when they aren't. Anyone can easily have cash of up to more than 10x their earnings.

�

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So who is crying?? Everyone. Those who aren't are those holding cash or debt free. oh ya and those which missed the bandwagon and hoping for everything to crash for them.

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Well said! But I think you might have mistaken my point. I, too, have sidelined since the announcement of TDSR as I don't want to be those pigs waiting to be slaughtered like you just said. I'm now holding on to cash and I'm in no rush to go in again. Can wait several years while enjoying the fruit of my labor.

Nobuddy post, i post

http://www.straitsti...market-20140803

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Sales of five-room and executive flats have been the worst hit by the shrinking Housing Board resale market.

Not only are fewer of these large flats being sold, but they are also taking more than twice as long to find buyers, compared with five years ago.

This is despite prices falling since the start of last year. The median cost of a five-room flat inSengkang, for example, was $495,500 in the second quarter of this year, down from $523,000 at the start of last year

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Edited by Mockngbrd, 04 August 2014 - 10:19 AM.

Nobuddy post, i post

http://www.straitsti...market-20140803

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hahah these media reports so joker�

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drop by 20K over 1.5 yrs and they yell that the sky is falling?

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remind me how much it went up by again?� [laugh] � [laugh]

Nobuddy post, i post

http://www.straitsti...market-20140803

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still earn about 100% despite fall

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still earn about 100% despite fall

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if i were selling a big flat, i would straight away slash another 20K and shout lelong lelong. No need to wait for another 18 mths to get the discounted price.

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sure sell. And profit gao gao� [bounce1]

Edited by Wyfitms, 04 August 2014 - 10:38 AM.

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if i were selling a big flat, i would straight away slash another 20K and shout lelong lelong. No need to wait for another 18 mths to get the discounted price.

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sure sell. And profit gao gao�

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after selling stay where?

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void deck ah?

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i think those want to sell already got a 2nd place or move back to parent or in-law piggyback them to make $$ from property [laugh]

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after selling stay where?

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void deck ah?

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Nobuddy post, i post

http://www.straitsti...market-20140803

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If you look at the comments.....one commented that now is a good time to buy a bigger flat.

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that person must be an agent.... good or bad times, always got things to say to prop up sales

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after selling stay where?

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void deck ah?

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rent lah

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so many experts and media keep telling us that market sibei jialat. Rental sure can squeeze landlord one

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then wait for a while for price to collapse and buy back at cheaper price and better location!

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just hope dun become like my friend, sold condo and waited to buy landed cos he said market looked so jialat, price sure fall. In the end, after renting for 4 yrs, lost all the profit he made on the condo sale, and paid an extra $2m to buy his semi-d.�

If you look at the comments.....one commented that now is a good time to buy a bigger flat.

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that person must be an agent.... good or bad times, always got things to say to prop up sales

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hahaha isnt that true?

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bad times - good to buy cos can negotiate lower price

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good times - also good to buy cos price will go up later

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U mean during bad time or good time, transaction level will become zero meh?�

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rent lah

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so many experts and media keep telling us that market sibei jialat. Rental sure can squeeze landlord one

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then wait for a while for price to collapse and buy back at cheaper price and better location!

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just hope dun become like my friend, sold condo and waited to buy landed cos he said market looked so jialat, price sure fall. In the end, after renting for 4 yrs, lost all the profit he made on the condo sale, and paid an extra $2m to buy his semi-d.�

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i prefer a stable family environment for my children to grow up in

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not squeeze here and there to earn a few miserable pennies�

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i prefer a stable family environment for my children to grow up in
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not squeeze here and there to earn a few miserable pennies�

But you said you're poor already what. So no chance to earn even a few miserable pennies

So how how how?� Can buy liao buay?

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See the ppl here so quiet.... must be buy liao siboh?

So how how how?� Can buy liao buay?

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See the ppl here so quiet.... must be buy liao siboh?

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of course buy liao

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don't miss the train then come here kpkb about govt again hor

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-_- ��

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Leng Beng's elder son buys Jervois Rd GCB for S$18.8m

This works out to about S$1,247 psf for 15,073 sq ft of freehold land

KALPANA RASHIWALA

.com.sg'>kalpana.com.sg��

PRINT�|EMAIL�THIS ARTICLE

Prime property:�The bungalow at the confluence of Jervois Road and Tanglin Road is said to have six en suite bedrooms and a small swimming pool. The total built-up area is around 7,600 sq ft. Mr Sherman Kwek is said to be buying the property from a couple

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1 of 2
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GCB transactions

[SINGAPORE] Sherman Kwek, chief investment officer of City Developments, has picked up a Good Class Bungalow for S$18.8 million. This works out to about S$1,247 per square foot on freehold land area of about 15,073 square feet.

Sitting on an elevated, triangular-shaped site near the confluence of Jervois Road and Tanglin Road, the two-storey bungalow is said to have six en suite bedrooms and a small swimming pool. The total built-up area is around 7,600 sq ft.

Mr Kwek, who is in his late 30s, is said to be buying the property from a couple. He exercised the option for the purchase last month.

Based on caveats information, this would be the fourth time the property is changing hands in the past 11 years. It was previously transacted in 2003, 2006 and 2007.

Mr Kwek is the elder son of City Developments and Singapore Hong Leong Group executive chairman Kwek Leng Beng. He is also a council member of the Singapore Chinese Chamber of Commerce and Industry.

In another GCB deal, motoring tycoon Peter Kwee is believed to have exercised an option last month for the purchase of a house in Gallop Park for S$25.2 million, translating into S$1,574 psf on land area of about 16,010 sq ft.

Mr Kwee is understood to be buying the property as trustee for another party. Under a complex deal, the seller - who is understood to be formerly from China, have completed his university education here and to be now a Singaporean - is said to have granted an option in the fourth quarter of last year.

The two-storey Gallop Park bungalow has about 7,000 sq ft built-up area; it has six bedrooms and a swimming pool. The property is believed to have been renovated a few years ago. The latest deal would mark the fifth time the property is changing hands in the past eight years; the earlier transactions were at about S$7.5 million in March 2006, S$12.3 million in July 2007, S$13.1 million in September 2008 and S$21 million in December 2010.

Other recent GCB transactions are said to include an option granted recently for an Oriole Crescent property for around S$15.7 million. It has land area of about 10,220 sq ft and built-up area of some 7,000 sq ft.

A property at Dalvey Road is also said to be selling at S$30-plus million. It is said to have five bedrooms in addition to a granny room and a guest room. The bungalow is on nearly 18,490 sq ft of land.

GCBs are the most prestigious type of landed housing in Singapore because of the planning constraints imposed by the Urban Redevelopment Authority, which has designated 39 locations on mainland Singapore as Good Class Bungalow Areas (GCBAs).

Typically, GCBs have a minimum land area of 1,400 square metres (15,069 sq ft). However, when GCBAs were gazetted in 1980, they included some slightly smaller existing sites. Nonetheless, these are still considered GCBs as they would be bound by the other GCB planning rules if they were to be redeveloped.

For instance, such plots cannot be further sub-divided and they cannot be built more than two storeys high (plus an attic and a basement).

Based on CBRE's analysis of caveats data, 15 deals in GCBAs have been done in the first half of this year totalling slightly over S$344 million, an improvement from just eight deals of S$233 million in the second half of last year.

RealStar Premier Group managing director William Wong notes that prices of GCBs as well as transactions have dropped since the onset of the total debt servicing ratio framework in June last year, as well as the fact that Singapore permanent residents are no longer allowed to buy landed homes in GCBAs.

The latter rule-change is thought to have been introduced sometime in the second half of 2012. "This means the pool of GCB buyers today comprises only Singaporeans," he added.

Even in prime GCBAs such as Chatsworth and Bishopsgate in the Tanglin vicinity, said Mr Wong, prices are now hovering around S$1,600-S$1,800 psf on land area, compared with S$1,800-S$2,000 psf about 18 months ago.

"On a more positive note, following a slow second quarter this year, we are now seeing an increase in viewing activity. There are more potential buyers looking out for good deals; however, not many owners are adjusting prices just yet. I foresee the price-gap will narrow, most likely in the fourth quarter of this year, which is when we will start to see more transactions."

GCB $18.8mil ???Only ???

Wah, chwee liao.....

GCB is usually much more than that.....
Ask viceroy, he has one, he wont let go for at least $25mil.

$18.8 mil sounds like almost a forced sale ....

GCB $18.8mil ???Only ???

Wah, chwee liao.....

GCB is usually much more than that.....
Ask viceroy, he has one, he wont let go for at least $25mil.

$18.8 mil sounds like almost a forced sale ....

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This one is a borderline GCB lah... 15,000 sq ft just qualify as GCB only... At $1,247 psf the price is fair lah...

�

Those Joo Chiat and Telok Kurau landed psf is much higher than this... albeit much smaller land lah....

�

No lah, sorry I don't have a GCB... but sometimes i go G for some CB...

did leng beng brother cry papa cry mama for buying a GCB at such cheap price?

must cry papa cry mama for govt to remove CMs

�

�

�

of course buy liao

�

don't miss the train then come here kpkb about govt again hor

�

��

�

Leng Beng's elder son buys Jervois Rd GCB for S$18.8m

This works out to about S$1,247 psf for 15,073 sq ft of freehold land

BY

KALPANA RASHIWALA

.com.sg'>kalpana.com.sg��

PRINT�|EMAIL�THIS ARTICLE

Prime property:�The bungalow at the confluence of Jervois Road and Tanglin Road is said to have six en suite bedrooms and a small swimming pool. The total built-up area is around 7,600 sq ft. Mr Sherman Kwek is said to be buying the property from a couple

�

1 of 2

�

�

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GCB transactions

[SINGAPORE] Sherman Kwek, chief investment officer of City Developments, has picked up a Good Class Bungalow for S$18.8 million. This works out to about S$1,247 per square foot on freehold land area of about 15,073 square feet.

Sitting on an elevated, triangular-shaped site near the confluence of Jervois Road and Tanglin Road, the two-storey bungalow is said to have six en suite bedrooms and a small swimming pool. The total built-up area is around 7,600 sq ft.

Mr Kwek, who is in his late 30s, is said to be buying the property from a couple. He exercised the option for the purchase last month.

Based on caveats information, this would be the fourth time the property is changing hands in the past 11 years. It was previously transacted in 2003, 2006 and 2007.

Mr Kwek is the elder son of City Developments and Singapore Hong Leong Group executive chairman Kwek Leng Beng. He is also a council member of the Singapore Chinese Chamber of Commerce and Industry.

In another GCB deal, motoring tycoon Peter Kwee is believed to have exercised an option last month for the purchase of a house in Gallop Park for S$25.2 million, translating into S$1,574 psf on land area of about 16,010 sq ft.

Mr Kwee is understood to be buying the property as trustee for another party. Under a complex deal, the seller - who is understood to be formerly from China, have completed his university education here and to be now a Singaporean - is said to have granted an option in the fourth quarter of last year.

The two-storey Gallop Park bungalow has about 7,000 sq ft built-up area; it has six bedrooms and a swimming pool. The property is believed to have been renovated a few years ago. The latest deal would mark the fifth time the property is changing hands in the past eight years; the earlier transactions were at about S$7.5 million in March 2006, S$12.3 million in July 2007, S$13.1 million in September 2008 and S$21 million in December 2010.

Other recent GCB transactions are said to include an option granted recently for an Oriole Crescent property for around S$15.7 million. It has land area of about 10,220 sq ft and built-up area of some 7,000 sq ft.

A property at Dalvey Road is also said to be selling at S$30-plus million. It is said to have five bedrooms in addition to a granny room and a guest room. The bungalow is on nearly 18,490 sq ft of land.

GCBs are the most prestigious type of landed housing in Singapore because of the planning constraints imposed by the Urban Redevelopment Authority, which has designated 39 locations on mainland Singapore as Good Class Bungalow Areas (GCBAs).

Typically, GCBs have a minimum land area of 1,400 square metres (15,069 sq ft). However, when GCBAs were gazetted in 1980, they included some slightly smaller existing sites. Nonetheless, these are still considered GCBs as they would be bound by the other GCB planning rules if they were to be redeveloped.

For instance, such plots cannot be further sub-divided and they cannot be built more than two storeys high (plus an attic and a basement).

Based on CBRE's analysis of caveats data, 15 deals in GCBAs have been done in the first half of this year totalling slightly over S$344 million, an improvement from just eight deals of S$233 million in the second half of last year.

RealStar Premier Group managing director William Wong notes that prices of GCBs as well as transactions have dropped since the onset of the total debt servicing ratio framework in June last year, as well as the fact that Singapore permanent residents are no longer allowed to buy landed homes in GCBAs.

The latter rule-change is thought to have been introduced sometime in the second half of 2012. "This means the pool of GCB buyers today comprises only Singaporeans," he added.

Even in prime GCBAs such as Chatsworth and Bishopsgate in the Tanglin vicinity, said Mr Wong, prices are now hovering around S$1,600-S$1,800 psf on land area, compared with S$1,800-S$2,000 psf about 18 months ago.

"On a more positive note, following a slow second quarter this year, we are now seeing an increase in viewing activity. There are more potential buyers looking out for good deals; however, not many owners are adjusting prices just yet. I foresee the price-gap will narrow, most likely in the fourth quarter of this year, which is when we will start to see more transactions."

�

�

BUYING CCB NOW!!!!!

so nice to be rich

�

can buy all kinds of CBs

�

I lowball somebody's property, didn't work. Trying again next year.

did leng beng brother cry papa cry mama for buying a GCB at such cheap price?

must cry papa cry mama for govt to remove CMs

�

�

�

I wonder if Grant Kelley gets a lot of shafts from the Kwek family in his job as CEO of CDL??

Edited by Porker, 08 August 2014 - 12:20 PM.

GCB $18.8mil ???Only ???

Wah, chwee liao.....

GCB is usually much more than that.....
Ask viceroy, he has one, he wont let go for at least $25mil.

$18.8 mil sounds like almost a forced sale ....

I think because the land is triangular shaped, that is why cheaper.

�

Edited by Passat57, 08 August 2014 - 05:29 PM.

I think because the land is triangular shaped, that is why cheaper.
�

Ok, at least that makes a bit more sense
But GCB , how triangular can it be at the end of the day

Old article: http://singaporeprop...-resale-prices/

No 1 mil no tok!

Take the case of Ms Sharon Wu, 40, who lives in a 39th-floor five-room unit in City ViewBoon Keng.

We paid a lot for the flat in 2008, but it was for the location and the million-dollar view, said the project manager who enjoys views of not just the Singapore Flyer and Central Business District, but parts of Batam Island too.

She expects the value of her flat it was $722,000 when she and her husband bought it to increase to as much as $1 million when it can go on the resale market.

Edited by Mockngbrd, 10 August 2014 - 09:15 AM.

So much monies.

Old article: http://singaporeprop...-resale-prices/

No 1 mil no tok!

Wow!
How much is that flat now?
I wish i can have such a magnificent view but alas, not from my 3rm CCK HDB....
Must aspire to buy city View boon keng for $1mil

Edited by Throttle2, 10 August 2014 - 12:28 PM.

Wow!
How much is that flat now?
I wish i can have such a magnificent view but alas, not from my 3rm CCK HDB....
Must aspire to buy city View boon keng for $1mil

�

Sibeh suan siao

�

This one is a borderline GCB lah... 15,000 sq ft just qualify as GCB only... At $1,247 psf the price is fair lah...

�

Those Joo Chiat and Telok Kurau landed psf is much higher than this... albeit much smaller land lah....

�

No lah, sorry I don't have a GCB... but sometimes i go G for some CB...

�

maybe got hantu insai :x

�

but 1247psf is fairly priced & reflective of the the current mkt. 1yr ago prob cld fetch 1500psf++

Old article: http://singaporeprop...-resale-prices/

No 1 mil no tok!
�

�

thank goodness the market is so depress3d now

�

otherwise, it would easily be $1.5m for resale boon keng

�

thank goodness the market is so depress3d now

�

otherwise, it would easily be $1.5m for resale boon keng

�

godammit i need to gear up 110 % n buy everything in sight! go anyone wanna sell me mortgage 110% value?

�

godammit i need to gear up 110 % n buy everything in sight! go anyone wanna sell me mortgage 110% value?

�

wanan gear 1,000 % also can

�

try crowdfunding� [laugh]

Vacancy is healthy, not getting cancer ok!

�

Vacancy rate in private residential market still �healthy�

�

Aug 12, 2014

�

While the number of completed but unoccupied private homes in Singapore is growing, property watchers believe the vacancy rate is still �healthy�, reported the media.

In fact, they even expect the number to increase over the next few years, with the suburbs witnessing the most significant increase.

In Q2 2014, the vacancy rate of completed private homes rose to its highest level since Q1 2006 at 7.1 percent, according to the Urban Redevelopment Authority (URA).

Notably, vacant units in the private residential market refer to completed units but unsold by developers, or homes purchased by buyers but are unoccupied.

Property watchers noted the present vacancy rate is still healthy for the market.

�Looking at the way prices have been behaving and of course you have the impact of the Total Debt Servicing Ratio (TDSR) and the cooling measures, it appears that around six to seven percent is the normal or healthy vacancy level in Singapore,� explained Alan Cheong, Senior Director of Research and Consultancy at Savills Singapore.

�But unfortunately, vacancies will increase as more projects get completed in the course of the next couple of years. We may even head towards double-digit levels like 10, 11 percent,� he added.

Including Executive Condominiums (EC), URA expects around 24,893 homes will be completed in 2015 while another 29,582 homes will enter the market in 2016.

In comparison, less than 14,400 homes were completed in 2013 and 20,023 homes will be expected to be completed this year.

With this, Nicholas Mak, Executive Director of Research and Consultancy at SLP International, expects the market to be challenging over the next few years, �especially in some locations where it is not proven as an established leasing market.�

These locations will likely be in the suburban areas and are not located near MRT stations or amenities, said SLP International.

�

So what is considered "unhealthy"?

So what is considered "unhealthy"?

�

maybe 10% is a little unhealthy?

�

15% sick

�

30% dying

�

50% dead

50% huat ah!!!

Very healthy indeed

Whoopeeee!

Attached Thumbnails

Wow!
How much is that flat now?
I wish i can have such a magnificent view but alas, not from my 3rm CCK HDB....
Must aspire to buy city View boon keng for $1mil

�

CCK got 3rm HDB meh?

�

You might be referring to Teck Whye.

�
CCK got 3rm HDB meh?
�
You might be referring to Teck Whye.

CCK , teck whye, bukit panjang, jelapang, aiyah no diff lah, haha

Very healthy indeed

Whoopeeee!

�

yeah, multi year new lows

�

HDB resale hit a new low, only last seen in 2011

�

but when i browse the listing, new low is just $20K lower than the high last year??

�

can someone point to me a hdb resale flat that dropped by at least 100K?

�

damn low indeed (talking about the magnitude of price fall)

�

[laugh] � [laugh]

Edited by Wyfitms, 13 August 2014 - 11:58 AM.

from analyst point of view ... drop 1-2% sibei jialat liao

beginning of the year analyst said ... drop 5% is MAX !!!

�

yeah, multi year new lows

�

HDB resale hit a new low, only last seen in 2011

�

but when i browse the listing, new low is just $20K lower than the high last year??

�

can someone point to me a hdb resale flat that dropped by at least 100K?

�

damn low indeed (talking about the magnitude of price fall)

�

�

�

Edited by Wt_know, 13 August 2014 - 12:38 PM.

can someone point to me a hdb resale flat that dropped by at least 100K?

�

hdb i duno but private alot dropped much more than 100k in asking & transacted lioa lol

from analyst point of view ... drop 1-2% sibei jialat liao

beginning of the year analyst said ... drop 5% is MAX !!!

�

�

�

very jialat meh? Still got 3 % buffer more to go� [laugh] � [laugh]

�

hdb i duno but private alot dropped much more than 100k in asking & transacted lioa lol

�

u talking about the prime 3,000 sqft condo that cost more than $5m ah?

�

i was referring to my poor segment of ulu suburban 99 yr condo

�

beginning last year asking 1.3m

�

beginning this year asking 1.25m

�

now still asking 1.25m

�

haiz, i took the advice of the experts and told my wife confidently that market sure fall this year... now already Aug and she asking me where is the drop?? looks like i can never afford my ulu suburban condo� [bigcry] � �

Lets not debate about where the direction is, ok? It will make us sound so stupid. Direction is clear, velocity is the one, i said many times already.

Asking prices do not define a market.
Or else we would all be billionaires.

As the "professional", you should know that even within a small market like Singapore, there are several segments. The drop is happening in various pockets of the market.
Some more than others.

If you hv ever heard of the notion, " the trend is your friend" you should know whether its time for an investment property or not.

There will still be buyers absolutely as theses constitute real demand (users)

The professionals should be advising us as such. Why am i the stupid nincompoop doing the job?

Enjoy the day folks

�
u talking about the prime 3,000 sqft condo that cost more than $5m ah?
�
i was referring to my poor segment of ulu suburban 99 yr condo
�
beginning last year asking 1.3m
�
beginning this year asking 1.25m
�
now still asking 1.25m
�
haiz, i took the advice of the experts and told my wife confidently that market sure fall this year... now already Aug and she asking me where is the drop?? looks like i can never afford my ulu suburban condo� � �

Simple analysis, dude.

Asking $1.3m , can sell?
Now asking $1.25m, can sell?
Fact is, can sell, but probably at $1.15m now.
Going forward a few months from now , maybe $1.15m also cannot sell.

If dont sell can? Can. Than why even put up for sale? Trying to catch Robert? Hhmm...there are less nowadays. Or lets say there are less who can afford to be Roberts.

Lowball

price just started to fall that little bit and people begging the govt to remove SSD? allowing SG to buy 2nd properties without ABSD?

�

if the govt listens, then expect price to even rebound from the dead�

�

Review earlier property curbs: property consultants

�

Aug 13, 2014

�

��

�Comment��

�E-mail to friend��

�Bookmark & Share

�

Although the government has reiterated that property cooling measures will be kept in place, some real estate consultants are still calling for a review of earlier curbs, which they believe may have become �redundant�, reported the media.

Speaking at the annual National Real Estate Congress yesterday, consultants believe earlier taxes such as the additional buyer�s stamp duty (ABSD) as well as the seller�s stamp duty (SSD) have become less relevant, considering that the total debt servicing ratio (TDSR) have effectively kept prices in check.

�I think nobody questions the reason behind the TDSR, but with it being in place for slightly more than a year now, I think it�s time for the Government to start looking at whether some of the earlier measures have become redundant because we have a pretty effective TDSR,� stated Colliers International Managing Director Dennis Yeo.

ERA Key Executive Officer Eugene Lim reckon the SSD has become unnecessary now that the speculative activity in the local property market dropped.

In fact, data from the Urban Redevelopment Authority (URA) revealed sub-sales accounted for 3.4 percent of the overall sale transactions in Q2 2014, down from Q1�s 4.6 percent.

�The sub-sales number is actually very low across all types of properties, so there is very limited speculation. It could be an opportune time to review the measures aimed at tackling speculative buying and selling, which is essentially the SSD. Is it necessary anymore at this stage?� said Lim.

Meanwhile, ABSD for local buyers should either be removed or lowered to allow Singaporeans to acquire second properties, said consultants.

�Since TDSR is already preventing people from over-gearing, I don�t think tweaking ABSD for local buyers will cause prices to shoot up again. Developers also have a lot of stock to clear, so prices can�t shoot up,� noted Lim.

�

what else can we expect come out from real estate congress? more CM to control property price? muahahaha

what else can we expect come out from real estate congress? more CM to control property price? muahahaha

How about, what else can we expect out of real estate agents mouth? Prices of property to drop ?
Muahahaha

�

u talking about the prime 3,000 sqft condo that cost more than $5m ah?

�

i was referring to my poor segment of ulu suburban 99 yr condo

�

beginning last year asking 1.3m

�

beginning this year asking 1.25m

�

now still asking 1.25m

�

haiz, i took the advice of the experts and told my wife confidently that market sure fall this year... now already Aug and she asking me where is the drop?? looks like i can never afford my ulu suburban condo� � �

�

haha... earlier this yr, particular d5 condo asking 1.6mil and above for same unit size, recently i check all similar asking only 1.35 mil [laugh] [laugh]
�

�
haha... earlier this yr, particular d5 condo asking 1.6mil and above for same unit size, recently i check all similar asking only 1.35 mil
�

Asking only mah.

Many people asking many years already still asking.
Why becos looking for Robert.
Why becos agent tell them possible

Anyway, who doesnt know what tricks an agent does.

To buyer, he say prices going up.
To seller he says prices coming off
Then easy to bridge the gap.
Chey, these tactics who doesnt know?
Therefore, i always talk to owner or buyer direct. It can be in the presence of agent.
No bulls**t. But of course many folks are too emotional and sentimental about selling their homes so kena play by agent tactics....

Asking only mah.

Many people asking many years already still asking.
Why becos looking for Robert.
Why becos agent tell them possible

Anyway, who doesnt know what tricks an agent does.

To buyer, he say prices going up.
To seller he says prices coming off
Then easy to bridge the gap.
Chey, these tactics who doesnt know?
Therefore, i always talk to owner or buyer direct. It can be in the presence of agent.
No bulls**t. But of course many folks are too emotional and sentimental about selling their homes so kena play by agent tactics....

�

tricks? tactics?

�

no lah, just tell the truth. I say it is possible, never say guarantee right?

�

Surely the owner must know that anything is possible, with transacted price as reference of course�

�

As u said, all these tactics are known to all, so everything is in the open here� [;)]

�

haha... earlier this yr, particular d5 condo asking 1.6mil and above for same unit size, recently i check all similar asking only 1.35 mil
�

�

your d5 condo how many sqft and how many BR?

�

asking 1.35m means can deal at 1.15m (according to experts)� [laugh]

How about, what else can we expect out of real estate agents mouth? Prices of property to drop ?
Muahahaha

�

why not

�

always say that price will rise also very susah. Becomes not so affordable to the average joe

�

say price will drop (2%) gives some comfort to rich singaporeans as they would think they have gotten a nice discount

price up or down still got people buy

agent just need to find the right buyer to right seller [thumbsup]

if seller ask for $1.5M ... than need to find buyer song song pay $1.5M for whatever reason lor ... may be 1km next to elite school? [sly]

Edited by Wt_know, 14 August 2014 - 09:39 AM.

still looking for a $2M penthouse that can be lowball at $1.6M+-? [sly]

still looking for a $2M penthouse that can be lowball at $1.6M+-?

�

a $2m PH today was prob worth just $1m 5 years ago.

�

Can your $1.6m be considered lowball?�

�

Will it fall further to $1.3m?

�
a $2m PH today was prob worth just $1m 5 years ago.
�
Can your $1.6m be considered lowball?�
�
Will it fall further to $1.3m?

Why do you always use this stupid irrelevant example?
Whats before is before.

We talk about current and future.
If it is worth $1.6mil today so be it.
But if it isnt worth $2mil, dont try to bulls**t it to be.

Who cares what it was 5 yrs ago? Not me
I care what it will be 1-3 yrs later becos i belong to the investor segment.
Different segment do care about different time horizon.

But cash rich investor segment care mostly about next 1-3yrs horizon aka shorter term price movements.

You dont just only make money from buying low selling high.
Its more about when you buy , whether its low or high.
Becos high can be higher and low can be lower.
Its about the direction of the market and how deep into the direction we are.

Anyway your twisting prata style of debate, i hereby too sian to engage you any further lah, bro.
You win!

All the best to your endeavors.
Sincerely

Why do you always use this stupid irrelevant example?
Whats before is before.

We talk about current and future.
If it is worth $1.6mil today so be it.
But if it isnt worth $2mil, dont try to bulls**t it to be.

Who cares what it was 5 yrs ago? Not me
I care what it will be 1-3 yrs later becos i belong to the investor segment.
Different segment do care about different time horizon.

But cash rich investor segment care mostly about next 1-3yrs horizon aka shorter term price movements.

You dont just only make money from buying low selling high.
Its more about when you buy , whether its low or high.
Becos high can be higher and low can be lower.
Its about the direction of the market and how deep into the direction we are.

Anyway your twisting prata style of debate, i hereby too sian to engage you any further lah, bro.
You win!

All the best to your endeavors.
Sincerely

�

i was trying to figure out what u talking abt behind the wall of text.. then i realize the main point is in bold.. silly me

�

i must be so clueless cos i didnt even know that i was in any debate? haiz, no wonder i can only be an agent and not other professions

�

sincerely� [:)] � [laugh]

The two of you should just get a room and get it over with.

The two of you should just get a room and get it over with.

�

no lah its ok to argue here mah then we can see 2 sides of the story. often times property discussions are 1 sided n not enuff critics

Direction is clear. CMs curbing speculation in easy credit environment, TDSR preventing families from overextending themselves.

Will probably save a number of ppl from getting burned when/if sh*t hits the fan

�

http://www.bloomberg...ed-to-rise.html

�

James Hee, a property agent who lives with his family of four in a government-built flat he owns in�Singapore, was eyeing a condo for about S$1.5 million ($1.2 million) earlier this year. Then Hee discovered that he wouldn�t qualify for a mortgage after the government restricted lending.

�Being self-employed, only 70 percent of what I earn is considered for the loan calculation, and with my car loan I can�t get the amount I would need to upgrade,� Hee, 32, said.

Singapore curbed lending after home prices climbed 25 percent between 2006 and 2008. While the measures pushed down�prices, they also prevented some Singaporeans, who mostly live in government-financed units that they own, from buying privately built apartments. The central bank said in July that it�s too early to ease property restrictions, a view that some economists support to protect borrowers from an impending rise in�interest rates.

�This preemptive step to limit loan liabilities could actually help to buffer a slump as it reduces the number of marginal home owners who may struggle to meet loan obligations and then need to liquidate,� said�Vishnu Varathan, an economist at Mizuho Bank Ltd. in the city-state. �It�s priming the Singapore market for more resilience when the rate cycle turns.�

a 1000sqft ($400k) govt-financed units is no good compare to a 750sqft ($1M) private apartment that cost 2.5x more expensive?

�

While the measures pushed down�prices, they also prevented some Singaporeans, who mostly live in government-financed units that they own, from buying privately built apartments

Edited by Wt_know, 14 August 2014 - 01:30 PM.

a 1000sqft ($400k) govt-financed units is no good compare to a 750sqft ($1M) private apartment that cost 2.5x more expensive?

�

�

of course no good lah

�

no security guard to salute u when u come home, no swimming pool for your maid to swim in the afternoon while u are away at work,�

�

most of all, stay in private means u are one of the elite 30% in SG. If agent can upgrade to private, got a lot of face and dignity to face his clients !�

another day another article
http://www.straitsti...unches-20140815

the way ST report property news is the best way to learn vocab to describe property market bambastically

�

from demand cooler to sales tepid [thumbsup]

�

New private home sales tepid in July amid few major launches
�

another day another article
http://www.straitsti...unches-20140815

�

Edited by Wt_know, 15 August 2014 - 02:04 PM.

another day another article
http://www.straitsti...unches-20140815

�

in other news, sales of foreign properties continue to move like hotcakes

�

wonder why that is not reported in the media?�

the way ST report property news is the best way to learn vocab to describe property market bambastically

�

from demand cooler to sales tepid

�

The other way is to read post from tbf4. Confirm can learn�new words. Just make sure must open another tab & standby online dictionary..... [rolleyes] � [nod]

the way ST report property news is the best way to learn vocab to describe property market bambastically
�
from demand cooler to sales tepid
�

Must be use thesaurus.

Same news, different headlines LOL

�

Slight rise in new private home sales

�

Aug 15, 2014

�

Sales of new private homes in Singapore, including executive condominiums (ECs), rose marginally month-on-month to 535 units. In June a total of 531 units were sold according to data published by the Urban Redevelopment Authority (URA).

Excluding ECs, the number of transacted units last month was 484 units.

The best-selling project by the number of units sold in July was City Gate at Beach Road (pictured), which sold 89 units at a median average price of $1,809 psf.

The most expensive property sold in July based on median psf pricing came from a single unit at Clermont Residence in Tanjong Pagar, which transacted at $3,244 psf.

The same month last year produced a total of 594 transacted private homes, including ECs.

A total of 5,365 new private homes, including ECs, have been sold during the first seven months of the year, according to URA data. The first seven months of last year saw a total of 12,562 units transacted according to the same data source � a decline of more than 57 percent year-on-year to date.

�

in other news, sales of foreign properties continue to move like hotcakes

�

wonder why that is not reported in the media?�

�

u mean move until $ gone like ecohouse? lol..
�

�

u mean move until $ gone like ecohouse? lol..
�

�

even with eco house, there will be people buying into the unknown

�

such is the force of low interest rates - turning people into mindless yield seeking zombies� [laugh] � [laugh]

I think I'm quite lucky with all your discussions on no rental no sale property.. I just leased my unit for $8k per month while average lease in my estate is 4.5k. Legal lease.. Nothing hanky panky or illegal.

mycarforum

Thứ Tư, 4 tháng 1, 2017

Rupiah/Rupee at risk, SG/HK risk property bubble part 33

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