A few CCR transactions sold at a loss (reported in The Edge)

[thomastansb]

Relax people. No point speculating. Everyone got its own agenda. If you don't hold property, you will want prices to go down. 7 quarters of decline, 500psf, 300psf etc. If you hold property, you will say Yishun selling 1600 psf, Tanah merah selling 1700 psf blah blah blah.

At the end of the day, you say, your balls shiok only. Nothing in reality changes. There are declines but there are 1700psf at suburban also. So no one is wrong. The only good thing about holding property is you are still collecting rental. The sad thing is if your yield is < 3%, then you hong gan.

[Kelonguni]

Well said!

Relax people. No point speculating. Everyone got its own agenda. If you don't hold property, you will want prices to go down. 7 quarters of decline, 500psf, 300psf etc. If you hold property, you will say Yishun selling 1600 psf, Tanah merah selling 1700 psf blah blah blah.

At the end of the day, you say, your balls shiok only. Nothing in reality changes. There are declines but there are 1700psf at suburban also. So no one is wrong. The only good thing about holding property is you are still collecting rental. The sad thing is if your yield is < 3%, then you hong gan.

[HP65]

i'm not familiar with de-coupling though. need some expert to help.

but for purchase, i m very sure. stick to your price as long as seller is willing to sell to u at that price. then look for a banker/valuer who is willing to match your price. but of course, make sure u find that banker/valuer before making that offer officially.

it happens particularly for the less transacted projects. the last transaction was so long ago (possibly just before the 2013 tdsr or something) when prices have hardly fallen. some valuers work on the logic that your offer price is too far below the last transacted price which i totally disagree with.

Thanks BH. I asked my lawyer a bit more and I think the issue here is she is a related party and it has to do with bankruptcy laws. It is to prevent a potential bankrupt person from transferring assets to related party at 0 cost and keeping it out of reach from Official Assignee.

[HP65]

Decoupling is as good as a sale.
You must have a valuation report to support the transacted price. The report costs $1,000.

On top, you wife needs to meet the TDSR to take over your portion of loan.

Some lawyers insisted to have actual cash transferred as well.

Thanks Laguna, understand all that. However it appears while its a sale, it's not at 'arms length'. What I was trying to do was to sell to her at below value (about 40% below current valuation @ May 2015). It's to prevent a potential bankrupt person from transferring and protecting his assets to a related party. TDSR etc is not an issue with her :-)

[august]

No need trend, just ban loans. CCR goes straight to 500 PSF. OCR 300 PSF.

Then next round Govt changed.

Wait for this quarter final report ok? Be patient. It shows CCR and OCR still falling while RCR has stablised.

http://www.srx.com.sg/singapore-prop...4-year-on-year

I won't rely on SRX's numbers. It is not an authority and has its own agenda.

[martialsin]

Their X-value also not recognised by SISV

[cartman]

The sad thing is if your yield is < 3%, then you hong gan.

many units the yield is below 3% lei

[thomastansb]

Then the owners hong gan la. Especially those on short lease and 80% loan.

many units the yield is below 3% lei

[bargain hunter]

saw something interesting at The Cosmopolitan. already 10 transactions so far in 2015. for the full year of the past 2 years, there were only 3 in 2014 and 8 in 2013.

in april, a lower floor (11 to 15th floor) 1679sq ft 4 bedder set the lowest psf in 3 years at 1757psf. for the 3 bedders a 1,399 sq ft (also 11 to 15th floor) unit, set the lowest psf in 3 years in jan at 1900psf.

in may, a (31 to 35th floor) 4 bedder transacted at 2,114psf. not too far from the 2,203psf 3 year high set in may 13 before the cooling measures.

in jul, 2 3 bedders transacted at 2,119psf (26 to 30th floor) and (31st to 35th floor) at 2,144psf. also not too far from the 3 year high of 2,190psf set in jan 2013.

[bargain hunter]

same thing for cairnhill residences

comparing 3 bedders transactions over 3 years:

2012 3 year high 2343psf. low was in aug 2014 2100psf. since then 2,173, 2,222 and 2,194psf. not much of a fall.

[HP65]

saw something interesting at The Cosmopolitan. already 10 transactions so far in 2015. for the full year of the past 2 years, there were only 3 in 2014 and 8 in 2013.

in april, a lower floor (11 to 15th floor) 1679sq ft 4 bedder set the lowest psf in 3 years at 1757psf. for the 3 bedders a 1,399 sq ft (also 11 to 15th floor) unit, set the lowest psf in 3 years in jan at 1900psf.

in may, a (31 to 35th floor) 4 bedder transacted at 2,114psf. not too far from the 2,203psf 3 year high set in may 13 before the cooling measures.

in jul, 2 3 bedders transacted at 2,119psf (26 to 30th floor) and (31st to 35th floor) at 2,144psf. also not too far from the 3 year high of 2,190psf set in jan 2013.

Why do you think I'm trying to decouple.....

[bargain hunter]

errm bro. why didn't u do it when decoupling was all the rage throughout late 2013 and 2014?! how long will it take?

Why do you think I'm trying to decouple.....

[HP65]

errm bro. why didn't u do it when decoupling was all the rage throughout late 2013 and 2014?! how long will it take?

Got SSD :-) must pay 50% of my share. Plus prices were still high then, nothing caught my eyes. Now it's soften a fair bit so I thought of entering the market again.

[newbie11]

Lower stamp duty now since valuation has came down

[HP65]

Lower stamp duty now since valuation has came down

SSD is expiring thus no penalty to decouple and valuation / price has come off a bit at the areas I'm looking at. So I think it's a good time to make a move.

[bargain hunter]

Rare transaction at Parkview Eclat 3,251 sq ft:

Sold 20 Jul 2015 2,523psf

Bought in the go go 2007 peak:

3 Jul 2007 3,518psf

loss well in excess of 3m.

[bargain hunter]

The Grange

sold 20 JUL 2015 3 GRANGE GARDEN #XX-XX 1,765sq ft 2,102psf
Bought 19 FEB 2008 2,175psf

tiny loss

[Mikey88]

After so long , BH u r back..��
Have been stalking this thread for ur presence .. Heehee..

[cartman]

yeah bargain hunter really provides updates on a lot of bargains. thanks for sharing all the info

[Werther]

This thread so quiet, guess bro bargain hunter left the scene or already bought some fire sale properties, no time to update.

Just saw one large unit at Sky eleven 2820 sq ft, sold for $3.88M, about 1376 psf... thats a good buy. wondering if this is a genuine sale.

But on further check, this unit was bought at $4.4M before, so dont know if it is like father sell to son, below cost.

Anyone knows?

[Mikey88]

Thanks Bro for bumping up this thread..
Guess the market not yet bottom out so Bro BH dun bother to update..��

[bargain hunter]

Orchard Resi

Sold 14 JAN 2016 238 ORCHARD BOULEVARD #XX-XX 2,852sq ft 3,225psf
Bought 12 MAY 2010 3,225psf

managed to sell back at same psf.

[bargain hunter]

Scotts Square

Sold 4 JAN 2016 8 SCOTTS ROAD #XX-XX 1,249sq ft 2,803psf
Bought 28 AUG 2007 3,766 psf

[bargain hunter]

Leonie Parc View

Sold 22 DEC 2015 22 LEONIE HILL ROAD #XX-XX 2,250sq ft 1,978psf
Bought 15 JUN 2007 2,938psf

[bargain hunter]

sorry, had been busy.

Thanks Bro for bumping up this thread..
Guess the market not yet bottom out so Bro BH dun bother to update..��

[bargain hunter]

i believe sky eleven deal is real. helped a relative buy a unit recently from a seller who was eager to take a $850k loss. its not uncommon. the point is, if seller bought at 2007 hyped up high, chances are they know that the prices will probably never reach those levels again (or take donkey years). in the meantime they may also have a high debt burden. these pple r in fact more willing to sell. but once their unit gets tenanted out again, they may sit on it again and wait.

This thread so quiet, guess bro bargain hunter left the scene or already bought some fire sale properties, no time to update.

Just saw one large unit at Sky eleven 2820 sq ft, sold for $3.88M, about 1376 psf... thats a good buy. wondering if this is a genuine sale.

But on further check, this unit was bought at $4.4M before, so dont know if it is like father sell to son, below cost.

Anyone knows?

[proud owner]

Scotts Square

Sold 4 JAN 2016 8 SCOTTS ROAD #XX-XX 1,249sq ft 2,803psf
Bought 28 AUG 2007 3,766 psf

FEO owns several units there for leasing.

Owner who bought FEO projects, always have to fight with FEO for tenants..

[agentg]

FEO owns several units there for leasing.

Owner who bought FEO projects, always have to fight with FEO for tenants..

Bro, Scotts Square is by Wheelock. FEO project is Orchard Scotts

[proud owner]

Bro, Scotts Square is by Wheelock. FEO project is Orchard Scotts

you are right

my bad...

[stalingrad]

Leonie Parc View

Sold 22 DEC 2015 22 LEONIE HILL ROAD #XX-XX 2,250sq ft 1,978psf
Bought 15 JUN 2007 2,938psf

Thanks for sharing the gospel. We missed you.