Casa Merah (D16, 99 yr LH, Wing Tai/NTUC)

[cartman]

orders seems to be picking up now because for Q1, many manufacturers low balled their forecasts due to their fears over the recession (as the traditionally buoyant Q4 was bad) and trying to deplete their inventories. now they are trying to play catch up since past inventories are used up and factories are not pumping out new components fast enough. will it last? no one seems to know till the inventories are built up again and provided demand is still strong. still seeing sporadic shortages here and there but its definitely not all rosy yet.

[WolleyDragon]

If you still dun know that STI (especially property stocks) is a leading indicator of property market price ... then good luck to you

STI is a factor in overall property prices, BUT not the only factor.. however hollowing hue & cry specifically over STI and trying to act hero in this topic..well.. I'm getting sick of your posts..

Like I said again.. This is a condo forum.. If you have lots to say about STI, go look for a STI forum..

[jitkiat]

STI is a factor in overall property prices, BUT not the only factor.. however hollowing hue & cry specifically over STI and trying to act hero in this topic..well.. I'm getting sick of your posts..

Like I said again.. This is a condo forum.. If you have lots to say about STI, go look for a STI forum..

I like to pinpoint the flaw with bear's reasoning ... cannot meh? Bcos Unreg was saying about there is no order coming at all for whatever industry. Then I just challenged Unreg to short the stock market by buying STI PUT warrant if so confident about the coming crash. Then you accused me of "showing off" ?!

[Dreamer]

Heard that Casa Merah going to TOP by Sept 2009, what about the launch of the new development infront of it?

[BenziT77]

Heard that Casa Merah going to TOP by Sept 2009, what about the launch of the new development infront of it?

mid june i think

[Unreg]

mid june i think

I just called TID this morning. They tell me launch will be this year.

[Unreg]

Business Times - 28 May 2009

Panel to help Singapore economy chart new course
Layoffs may loom in the short term as firms face lagging productivity levels, says PM Lee
By CHEN HUIFEN (SINGAPORE) Faced with a structural shift in the world economy and an uncertain outlook that may force companies to lay off more workers, Singapore will need new long-term strategies for growth and development.
And to help it chart its new path, an Economic Strategies Committee (ESC) chaired by Finance Minister Tharman Shanmugaratnam will be set up later this year. It will include representatives from both the public and private sectors.
'We have found such exercises very useful,' said Prime Minister Lee Hsien Loong. 'I have personally been involved in several of them over the years, including the ERC (Economic Review Committee set up in 2001) more recently. And we hope that the committee will be able to develop its main recommendations in time for next year's Budget.'
Mr Lee was speaking in Parliament yesterday, the third day of debate on the President's Address, when he unveiled the government's plans to tackle economic transformation and to evolve Singapore's political system. He touched on the possibility of further retrenchments during the rest of the year, due to a lagging productivity level. Although the GDP shrank sharply year-on-year by 10.1 per cent in Q1, unemployment went up only moderately to 3.2 per cent, from 2.5 per cent in Q4.
'That means each worker is doing 10 per cent less work,' said Mr Lee. 'That means employers are still holding on to workers for now, because of Spur, because of Jobs Credit, because of flexi-work and flexi-wage arrangements.'
He noted that new orders received by companies will only see them through the middle of this year. And if demand does not continue, firms will not be able to sustain a shorter workweek or job-sharing indefinitely.
'Eventually, if this situation persists, the companies will have to right-size,' said Mr Lee. 'And the workers have to redeploy into new businesses which have orders, which have better prospects, and where they can become fully productive again.
'From the government's point of view, if we are in that situation, we have to let the companies restructure. We have to let the resources shift, from the businesses which are shrinking to the businesses which are growing, and gear up for the changed new world, rather than wait in vain for the old business to come back.'
While government agencies are keeping a watchful eye on the situation, the ESC will study Singapore's strategies in five areas:

how can the Republic seize growth opportunities?

how can it strengthen its corporate capabilities?

how can it grow its human and knowledge capital?

how can it create good, high-value jobs for Singaporeans?

how can it deploy resources to maximum effect?
The questions will require some fresh thinking and creative answers. For instance, while Singapore firms have excelled in certain niche areas like oil rig production and legal services, it needs to think about how it can pursue more niche opportunities or win more projects in emerging markets.
Singapore will need to build a more diverse mix of companies, from MNCs and local firms, to start-ups and established names.
'We need to attract the next tier of global companies, after the Fortune 500 - slightly smaller but, by Singapore standards, still large,' said Mr Lee. 'And they are not quite familiar with Asia. They can invest here because they are comfortable with our business environment, and they see this as a good base to expand in Asia.'
Asian firms internationalising their operations will also be targets. The government is also willing to do more to help local firms grow and become global outfits. However, this cannot be done by simply pouring money into them or creating a 'Temasek II', as suggested by some MPs.
What's needed is a vibrant enterprise ecosystem - marked by strong talent attraction, entrepreneurship, professional management, investments in technology, and distinctive brands.
'So it's not an easy thing to do . . . ,' added Mr Lee. 'It's something we will study and work at.'
The study will include a review of Singapore's R&D drive, in terms of how the programmes may be taken to the next level in order to reap economic payoffs. Also, the ESC will have to consider ways to expand Singapore's limited land, develop new energy sources and reduce its dependency on foreign workers.
While the general tone of his speech was cautious, Mr Lee tempered the mood with the view that the Asian growth story remains intact. And if Singapore goes for targeted, niche areas, 'we can make a living for ourselves'.
'So I'm confident we can develop strategies to pursue global opportunities by enhancing our capabilities and growing our economy, that we can pursue inclusive growth and make the best use of our resources. And that is the way to transform our economy, to continue to prosper and to build a first-class home.'

[East Coast Boy]

WASHINGTON - SALES of previously owned US homes rose in April, a report showed on Wednesday, providing new evidence the housing market is stabilising and backing views that the recession is nearing an end.

The National Association of Realtors said sales climbed 2.9 per cent to an annual rate of 4.68 million as the tradition of spring home-buying season swung into gear.

SALES ACTIVITY PICKING UP
THE Realtors report showed sales of single-family homes rose 2.5 per cent last month to an annual rate of 4.18 million, while multi-family units - the hardest-hit sector - jumped 6.4 per cent to a 500,000-unit annual pace. Sales were up in three of four regions. However, the number of unsold homes swelled 8.8 percent to 3.97 million, the highest since November. At the current sales pace, it would take 10.2 months to clear that supply.

Both the trade group and economists shrugged off the rise in home inventories as mainly the result of seasonal factors.
... more
The positive picture, however, was dimmed by a separate report showing applications for home loans fell to their lowest level since early March last week as mortgage costs rose.
Worries about the government's ability to fund costly measures to rescue the economy drove longer-dated government bond yields higher on Wednesday, with the spread between the 2-year and 10-year Treasury notes widening to a record 2.75 percentage points.

The rise in bond yields threatens to push up borrowing costs for consumers and businesses, and US stocks sold off on concerns the economy could suffer. Major indexes ended more than 1 per cent lower.

Economists, however, were heartened by the home sales data and said borrowing costs had not moved up enough to imperil the housing market's chances of recovery. 'I don't think it's a threat as long as mortgage rates stay low and so far they have,' said Patrick Newport, an economist at IHS Global Insight in Lexington, Massachusetts.

In general, the data was seen as a fresh hint that the steep 17-month US economic downturn, triggered by the collapse of the housing market, was easing and could well end by the third quarter, as a survey published by the National Association of Business Economists predicted.

The pace of job losses slowed last month, claims for unemployment aid have come off their peaks, and consumer confidence has risen from recent rock-bottom levels.'The national economy is showing some initial signs of stability,' U.S. Treasury Secretary Timothy Geithner said in Boston as he announced US$1.5 billion (S$2.2 billion) in federal tax credits for community development projects. 'This is just the beginning, however. We have a long way to go.' -- REUTERS

[Regulators]

so does that mean singapore homes gearing up for the bull run again? still a big question mark....

[jitkiat]

One 3-room unit of Casa Merah sold at 700psf btn 1 May to 8 May

[East Coast Boy]

Private home sellers raise asking prices

PROPERTY market sentiment appears to have improved fast and furious, judging by the prices being asked by some individual sellers – though observers suggest they are being somewhat optimistic.

These sellers may be taking their cue from the stock market, experts said. Asking prices for some properties that have just been completed or are close to completion have jumped significantly in recent months.

The improvement follows strong data for new private home sales, which have crossed the 1,000-unit mark for three months in a row since February, after a period of severe stagnation.

Property experts said the recent strong rally in the stock market has given quite a lift to property market sentiment.

Still, lower prices have also played a part in stronger sales. Some recent launches have done well after developers finally cut their asking prices.

For instance, Parc Centennial in Kampong Java Road is now sold out, after developer EL Development relaunched the 44 remaining units at an average price of $1,175 per sq ft (psf), about 20 per cent lower than last year’s average price.

But individual sellers are tending to raise, not lower, prices. For instance, some sellers of high-floor units at Marina Bay Residences are advertising their properties at $2,000 psf or more – regarded by analysts as a key resistance level for many buyers.

Some recent classified advertisements in The Straits Times for Cosmopolitan in River Valley show asking prices of $1,380 psf to $1,395 psf, compared with asking levels of about $1,250 psf earlier in the year.

In late February, an ad for RiverGate units displayed prices of $1,118 psf to $1,399 psf. But last week, some ads for RiverGate, at Robertson Quay by the Singapore River, offered units at prices starting from $1,380 psf, with one ad even offering two three-room units at $1,900 psf.

Some sellers, with an eye to the longer term, are actually withdrawing properties from the market, sensing an uptick in sentiment. ‘We are seeing some sellers changing their minds to sell, seeing that the market is rising,’ said Savills Residential director Phylicia Ang.

HSR Property Group executive director Eric Cheng said the property market has performed beyond expectations in the past three weeks, but is starting to slow a tad as sellers retreat and wait for better prices.

A 31-year-old house-hunter, who is scouting for his first home, said two out of his three property viewing appointments near East Coast Road a week ago were cancelled almost at the last minute because the sellers decided to withdraw from the market. And over the weekend, his agent failed to get him any viewing appointments in the same area for the same reason.

Ms Ang said individual sellers face fewer risks by testing higher prices in the market. ‘If I don’t like the price, I can always withdraw,’ she said.

Still, market sentiment has moved up very fast. ‘It’s the ‘too good to be true’ scenario now,’ she said.

But one thing is for sure: There are buyers out there with cash and there is clearly demand for projects that are seen as good value, experts said.

Compared with the situation three months ago, sellers are more willing to negotiate prices today as there are more keen buyers, said Mr Cheng.

Just three days ago, a deal for a 2,150 sq ft UE Square unit in River Valley was closed nearly on the spot at slightly more than $1.8 million, as it worked out to an attractive level of below $850 psf, he said.

In general, even though there are still desperate sellers around, some sellers may be asking for about 5 per cent higher than the prices three months ago, Mr Cheng said. ‘You can see more sellers asking for a bigger premium, but no one will buy if you price your property too high. One high-price caveat does not reflect the price of the development,’ he added.

Market sentiment has improved, but it is still early days as short-term fundamentals have not exactly corrected, said PropNex chief executive Mohamed Ismail.

‘If the sellers start to increase their prices in anticipation of higher levels, they may kill the deal,’ he added. ‘We saw that in 2007 when prices were rising. Many sellers were not contented with their offers, so many deals did not materialise.’

He said sellers can ask for high prices, but the key is whether the banks are willing to match those asking prices.

‘It is no point if your own optimism is not matched by the valuation. That is the valuers’ view of the current market, taking into account the better sentiment.’

To sum up, said Mr Cheng, there are still more sellers than buyers.

Source : Straits Times – 1 Jun 2009

[East Coast Boy]

All the analysts are now singing the same song.

If the number of new units sold exceeds 7500 units by end '09 without further price cuts, I'd be in their camp.

I am betting they will not be able to move 15000 units over the next 2 year period without substantial price cuts.

Other than that, it seems to be flash in the pan and the units moved will lose its momentum unless there are decisive price cuts. The source of pent up demand (HDB owners) will dry up as the HDB price index is showing signs of cracking.

Give it another 9 months...when the looming oversupply comes online,DPS dumping , the HDB pool dries up, lower rental yield and no signs of the green shoots becoming green saplings.

There will be another song to sing.

Developers sell close to 1,200 homes in May


DEVELOPERS sold an estimated 1,200 private home units in May, according to market watchers. This is comparable to the 1,207 units they sold in April, based on official Urban Redevelopment Authority (URA) numbers.

A BT survey across nine developers as well as some property agents yesterday already showed that some 1,130 units were sold last month. ‘Developers could have easily sold about 1,200 units in May if you include all the smaller pockets of developments as well,’ a seasoned residential property consultant estimated.

However, BT understands that some units may also be returned by buyers who may have got caught up in the home-buying frenzy fuelled by the stockmarket rally in the past few weeks.

Frasers Centrepoint sold a total 294 units in May – comprising 186 units at Martin Place Residences at Kim Yam Road, 46 at Caspian in the Jurong Lake District, 22 units at Woodsville 28, and 40 homes at Waterfront Waves.

Frasers Centrepoint is developing Waterfront Waves, near Bedok Reservoir, jointly with Far East Organization. The latter sold a total of 165 units (inclusive of Waterfront Waves) last month.

BT eliminated the double-counting for joint-venture projects in arriving at the May sales tally.

City Developments reported total sales of 138 units (of which 97 units came from The Arte at Thomson and 36 units from Livia in Pasir Ris) in May.

CapitaLand also achieved brisk sales for The Wharf Residence at Tong Watt Road.

EL Development also found buyers for a total of 74 units last month (comprising Parc Centennial at Kampong Java Road and Rosewood Suites in Woodlands).

Soilbuild is understood to have sold close to 90 units at The Mezzo in the Balestier location. In other developments, sales of around 30 units were seen for Kovan Residences and 21 units at BelleRive in Bukit Timah.

According to official government numbers, developers sold 1,332 private homes in February, followed by 1,220 units in March and 1,207 units in April.

Lower property prices have been the main attraction for buyers, said DTZ executive director Ong Choon Fah.

Many developers have either re-priced or re-sized their units to make them more affordable.

Many people also feel that residential property prices have corrected substantially, she added.

‘The thinking is: whether it’s the bottom or not, probably the worst is over so it’s about time to go in.’

The recent stockmarket rally has also helped to improve sentiments, Mrs Ong said.

With sales momentum gathering, developers have been gradually inching up prices for mass-market and mid/upper segment projects, following earlier price reductions from the 2007 peak levels.

However, pricing power is not expected to return to developers of luxury projects anytime soon. ‘The price push in 2006-2007 period came from overseas buyers; this segment is still out of action,’ a developer said.

A veteran developer observed that buyers now include those who had been sidelined by the rapid price surge in 2007.

Whereas the 2006/2007 residential property bullrun was substantially wealth-driven, with a strong element of overseas money, the current recovery in home buying has started in the mass-market and is now permeating to the mid/upper-middle segments, he added.

‘So this is a traditional, bottom-up recovery, which is more sustainable. Upward price movements will be constrained by affordability at the end of the day,’ he added.

DTZ’s Mrs Ong too agrees that while there is ‘cautious optimism’ in the property market, developers are unlikely to raise prices significantly at this point in time.

Some developers may have lowered the level of discounts for projects that have sold well but they are doing this carefully.

‘You don’t want to derail the momentum that has been built up,’ she said.

Source : Business Times – 2 Jun 2009

[andyng76]

Just bought a stack to my liking at 700psf, realize is the highest transacted price in the month of May 09. High floor facing reflecting pool. Well, it for my own stay so can't complain.

As i am the 2nd buyer of this unit, i did not view the showroom. Is it almost the same as what protrays in the brochure? I guess it is always a risk to compare it based on floor plan.

[Dreamer]

Just bought a stack to my liking at 700psf, realize is the highest transacted price in the month of May 09. High floor facing reflecting pool. Well, it for my own stay so can't complain.

As i am the 2nd buyer of this unit, i did not view the showroom. Is it almost the same as what protrays in the brochure? I guess it is always a risk to compare it based on floor plan.

Congratulations on your purchase.

Yes, the photos in the brochure are the same as the showroom. However, if i didn't remembered wrongly, the first owner has a choice of beige compressed marbles or dark granite for the living room. Choice of timber strip or parquet floor for the bedroom.

[Sean.G]

Just bought a stack to my liking at 700psf, realize is the highest transacted price in the month of May 09. High floor facing reflecting pool. Well, it for my own stay so can't complain.

As i am the 2nd buyer of this unit, i did not view the showroom. Is it almost the same as what protrays in the brochure? I guess it is always a risk to compare it based on floor plan.

Hi andy, congrads...can move in soon also.

I am looking at a unit in the devt too. Just asking, is yours a high, mid or low floor unit. Btw, the plot in front of casa merah by tid was supposed to be cited as a commercial devt. Now seems its launching as a residential devt. Anyone knows where can find more info on the development?

[Douk]

Just bought a stack to my liking at 700psf, realize is the highest transacted price in the month of May 09. High floor facing reflecting pool. Well, it for my own stay so can't complain.

As i am the 2nd buyer of this unit, i did not view the showroom. Is it almost the same as what protrays in the brochure? I guess it is always a risk to compare it based on floor plan.

which stack did you buy?

[andyng76]

Mine is on the high floor and on stack 10. You can check www.streetsine.com and look for casa merah. Gives u and indication on the transacted price.

The developer, TID Pte Ltd did not make any official lauches yet, correct me if am wrong. Yes it is for residential site. The commercial plot is still there next to it side by side. You can see the sign board if you drive along the main road.

However, still not sure if is office and retail. Of coz i prefer the latter. Saw the $psf is increasing day by day but it is just a trend, nobody is buying it officially.

[Property_Owner]

Mine is on the high floor and on stack 10. You can check www.streetsine.com and look for casa merah. Gives u and indication on the transacted price.

The developer, TID Pte Ltd did not make any official lauches yet, correct me if am wrong. Yes it is for residential site. The commercial plot is still there next to it side by side. You can see the sign board if you drive along the main road.

However, still not sure if is office and retail. Of coz i prefer the latter. Saw the $psf is increasing day by day but it is just a trend, nobody is buying it officially.

Congrats. Welcome to the Cs club.

[hkching]

Just bought a stack to my liking at 700psf, realize is the highest transacted price in the month of May 09. High floor facing reflecting pool. Well, it for my own stay so can't complain.

As i am the 2nd buyer of this unit, i did not view the showroom. Is it almost the same as what protrays in the brochure? I guess it is always a risk to compare it based on floor plan.

Hi, think we going be neighbours. I bought a high floor in stack 10 1 month ago too.

[andyng76]

Hello new neighbour!!

Guess will meet one of these days without realizing.

Any update on the TOP date? My lawyers told me will be in Aug 09. Are you the 1st owner? I am trying to get the developer to knock down the kitchen wall.

[hkching]

Hello new neighbour!!

Guess will meet one of these days without realizing.

Any update on the TOP date? My lawyers told me will be in Aug 09. Are you the 1st owner? I am trying to get the developer to knock down the kitchen wall.

I bought it off the sub-sale market too. Just PMed you.

[Unreg]

I have got this from Streetsine.com. Anyone can tell me if the transacted price is accurate.

74 Tanah Merah Kechil Avenue #12-46 $707 990 $700k 12 May 09
54 Tanah Merah Kechil Avenue #02-11 $610 1227 $748k 12 May 09
52 Tanah Merah Kechil Avenue #10-06 $655 1238 $810k 11 May 09
56 Tanah Merah Kechil Avenue #10-16 $685 1238 $848k 11 May 09
54 Tanah Merah Kechil Avenue #11-10 $700 1227 $858k 04 May 09
64 Tanah Merah Kechil Avenue #07-28 $665 1259 $837k 04 May 09
68 Tanah Merah Kechil Avenue #05-36 $666 1216 $810k 30 Apr 09
64 Tanah Merah Kechil Avenue #10-25 $663 1259 $835k 29 Apr 09
54 Tanah Merah Kechil Avenue #03-09 $648 1227 $795k 24 Apr 09
54 Tanah Merah Kechil Avenue #05-10 $658 1216 $800k 20 Apr 09
74 Tanah Merah Kechil Avenue #03-47 $674 980 $660k 16 Apr 09
66 Tanah Merah Kechil Avenue #06-29 $660 1281 $845k 09 Apr 09
70 Tanah Merah Kechil Avenue #05-37 $655 947 $620k 09 Apr 09
70 Tanah Merah Kechil Avenue #06-38 $686 947 $650k 06 Apr 09
62 Tanah Merah Kechil Avenue #03-21 $638 1550 $988k 06 Apr 09
52 Tanah Merah Kechil Avenue #07-07 $700 1238 $866k 04 Apr 09
74 Tanah Merah Kechil Avenue #11-45 $678 958 $650k 02 Apr 09
60 Tanah Merah Kechil Avenue #06-17 $660 1572 $1037k 31 Mar 09
64 Tanah Merah Kechil Avenue #04-26 $689 947 $653k 31 Mar 09
70 Tanah Merah Kechil Avenue #09-38 $713 947 $675k 30 Mar 09

[andyng76]

Yes they are coz mine is in amount the list.

[Unreg]

Yes they are coz mine is in amount the list.

Thanks alot !!! At least I can verify if the property agent are telling me the truth. Spoke to one last week and he said that owner are now asking for 750psf.

There is no way I am going to pay for 750psf, if I missed the boat, then be it lah. No luck lor!

[ras]

The current asking prices are not realistic.

[Alexis]

Does the Streetsine service show all the transaction records from beginning till current? I would like to check how many times a particular unit has changed hands and at what price each time.

I have got this from Streetsine.com. Anyone can tell me if the transacted price is accurate.

74 Tanah Merah Kechil Avenue #12-46 $707 990 $700k 12 May 09
54 Tanah Merah Kechil Avenue #02-11 $610 1227 $748k 12 May 09
52 Tanah Merah Kechil Avenue #10-06 $655 1238 $810k 11 May 09
56 Tanah Merah Kechil Avenue #10-16 $685 1238 $848k 11 May 09
54 Tanah Merah Kechil Avenue #11-10 $700 1227 $858k 04 May 09
64 Tanah Merah Kechil Avenue #07-28 $665 1259 $837k 04 May 09
68 Tanah Merah Kechil Avenue #05-36 $666 1216 $810k 30 Apr 09
64 Tanah Merah Kechil Avenue #10-25 $663 1259 $835k 29 Apr 09
54 Tanah Merah Kechil Avenue #03-09 $648 1227 $795k 24 Apr 09
54 Tanah Merah Kechil Avenue #05-10 $658 1216 $800k 20 Apr 09
74 Tanah Merah Kechil Avenue #03-47 $674 980 $660k 16 Apr 09
66 Tanah Merah Kechil Avenue #06-29 $660 1281 $845k 09 Apr 09
70 Tanah Merah Kechil Avenue #05-37 $655 947 $620k 09 Apr 09
70 Tanah Merah Kechil Avenue #06-38 $686 947 $650k 06 Apr 09
62 Tanah Merah Kechil Avenue #03-21 $638 1550 $988k 06 Apr 09
52 Tanah Merah Kechil Avenue #07-07 $700 1238 $866k 04 Apr 09
74 Tanah Merah Kechil Avenue #11-45 $678 958 $650k 02 Apr 09
60 Tanah Merah Kechil Avenue #06-17 $660 1572 $1037k 31 Mar 09
64 Tanah Merah Kechil Avenue #04-26 $689 947 $653k 31 Mar 09
70 Tanah Merah Kechil Avenue #09-38 $713 947 $675k 30 Mar 09

[Unreg]

Does the Streetsine service show all the transaction records from beginning till current? I would like to check how many times a particular unit has changed hands and at what price each time.

Don't think so, the earliest I think is 2008

[yess24]

Recently... I see that the big plot of land between Casa merah & tanah merah mrt has been fenced up.... and the middle like building a showroom...

a new condo will be built there?

[ras]

Recently... I see that the big plot of land between Casa merah & tanah merah mrt has been fenced up.... and the middle like building a showroom...

a new condo will be built there?

Yes, it is a new condo. It will block the front view of Casa Merah.

[Unreg]

Casa merah asking price is around 730psf. Is it too high a price to go buy now?