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

[teddybear]

What do all these transactions in March tell you?

FIFTH AVENUE CONDOMINIUM 2,700,000 1,496 Strata 1,805

THE LINCOLN RESIDENCES 2,500,000 1,410 Strata 1,773

VIVA SUFFOLK WALK 2,250,000 1,324 Strata 1,699

CAVENAGH HOUSE 2,565,000 1,636 Strata 1,568

THE WHARF RESIDENCE 1,748,500 1,076 Strata 1,624

[teddybear]

Devil, did you sell your clift?

THE CLIFT MCCALLUM STREET Apartment 1 1,185,750 527 Strata 2,248 Mar-12

dtrax, can get profits?

[teddybear]

MARTIN PLACE RESIDENCES MARTIN PLACE Condominium 1 2,350,000 1,044 Strata 2,251 Mar-12

[bargain hunter]

the magic range which has problems seem to be $3 to 5m leh or as per the start of the thread, even larger transactions. $2m+ ones still have buyers and sellers easily can make profits.

[dtrax]

Devil, did you sell your clift?

THE CLIFT MCCALLUM STREET Apartment 1 1,185,750 527 Strata 2,248 Mar-12

dtrax, can get profits?

one of the top flr. Sell at cost price after factor stamp duty

[dtrax]

MARTIN PLACE RESIDENCES MARTIN PLACE Condominium 1 2,350,000 1,044 Strata 2,251 Mar-12

Yup gross over 600k

MARTIN PLACE RESIDENCES 6 Martin Place #23-08 1 97 Strata 2,350,000 24227 2251 01-MAR-2012 Condominium Freehold 2011 Sub Sale Private 09 23 237990 Central Region River Valley

MARTIN PLACE RESIDENCES 6 Martin Place #23-08 1 97 Strata 1,740,000 17938 1666 25-JUN-2009 Condominium Freehold Uncompleted New Sale Private 09 23 237990 Central Region River Valley

[kane]

What do all these transactions in March tell you?

FIFTH AVENUE CONDOMINIUM 2,700,000 1,496 Strata 1,805

THE LINCOLN RESIDENCES 2,500,000 1,410 Strata 1,773

VIVA SUFFOLK WALK 2,250,000 1,324 Strata 1,699

CAVENAGH HOUSE 2,565,000 1,636 Strata 1,568

THE WHARF RESIDENCE 1,748,500 1,076 Strata 1,624

What? That thinge are still moving along? The mpr unit was sold at a pretty good price.

[minority]

The key difference here is one is completed (= immediately 100% burden) the other is new launch (= worry abt it 4 years later = surely got a bigger idiot to buy from me 4 years later = worse case i can go stay there myself and sell/rent out my HDB)

They all forget their paper profit in HDB might no longer be there 4 years from now. as everything is inter-connected: if condo making money, hdb will also be making money.. if condo not making money... hdb also not making money...

Coz many pple belived in the condo , mall , mrt n river story. I guess most forgot mrt outage can be 6hrs at least. We I guess at most stay home n shop in the mall or jump into the river for a dip with the crocs.

[minority]

both new launch la....aiyo

the diff is same quantum but one is 1bdr MM and the other is a 2bdr

1bdr in Wt only 5xx-6xxk wat....the other mm oredi 1mil++

It's a quantum game. Build a store room n sell out for 300k also got pple buy. For example Mountbatten suits dungeon unit.

[minority]

Yeah, that's true. But I brought up the example because both in the region of 1.2 million mah. So quantum wise, its comparable.

If quantum is the same, then all the reasons regarding CM, ABSD don't apply. That's why I was asking, is the newton one priced too high? What if Sky habitat can move a 1 bedder MM at 1900 psf?

Hah hah them chop chop carrot lor... N wait for CM6

[minority]

Aspen Heights $1,300,000 883 sq ft 1473psf Feb-12

Seller bought in mid 1996 at $1.215m 1377psf.

During 2009 psf is 1000psf

[rattydrama]

Hah hah them chop chop carrot lor... N wait for CM6

cm6 will be a big headache if it comes. I am not sure who will be happy to see that coming.

The 3-5m quantum units are most sold at a lost now or owner to keep if got holding power.

i guess the gov just want to flood the market with lots of ECs and hopefully HDB upgraders will sell their hdb flats and move to their dream home.. make Singaporean happy first...now including the 2nd time buyer hor.

the resale flat will be absorbed by the foreigners and more buses introudced by the transport minister seems to suggest that.


wakaka....i am infected!!

[teddybear]

Is to make foreigners (including PRs) happy is it? Those foreign workers (not foreign-talents or expats) who need to buy resale HDB flats ones?

cm6 will be a big headache if it comes. I am not sure who will be happy to see that coming.

The 3-5m quantum units are most sold at a lost now or owner to keep if got holding power.

i guess the gov just want to flood the market with lots of ECs and hopefully HDB upgraders will sell their hdb flats and move to their dream home.. make Singaporean happy first...now including the 2nd time buyer hor.

the resale flat will be absorbed by the foreigners and more buses introudced by the transport minister seems to suggest that.


wakaka....i am infected!!

[dtrax]

What? That thinge are still moving along? The mpr unit was sold at a pretty good price.

this one no brainer mah seriously, recession drop frm 1.9 to 1.5-1.6k psf. Potential 2k and over based on Rivergate. Recovery sure huat

[rattydrama]

Is to make foreigners (including PRs) happy is it? Those foreign workers (not foreign-talents or expats) who need to buy resale HDB flats ones?

haha.. hopefully all these foreigners will absorb the 2nd hand flat at much higher price, stay n work hard another few years to pay for the mortgage, married and convert to singaporeans for the sake of their children. Perhpas continue to vote these policy makers into parliment. sounds like a win-win situation.


old singaporeans too much complaints liao. lol

[rattydrama]

actually observed some of my interest projects did drop quite a fair bit over the last 2 months. The resale has the hardest hit now.

easily like 100-300k down as compared to 4 months back.

looks like its coming down.

[kane]

actually observed some of my interest projects did drop quite a fair bit over the last 2 months. The resale has the hardest hit now.

easily like 100-300k down as compared to 4 months back.

looks like its coming down.

What quantum are you looking at?

[teddybear]

Not true lah, still have buyer for this one:
ST THOMAS SUITES 4,263,668 2,013 Strata 2,118 Feb-12

the magic range which has problems seem to be $3 to 5m leh or as per the start of the thread, even larger transactions. $2m+ ones still have buyers and sellers easily can make profits.

[blackjack21trader]

Methink you guys still did not realise the CM5 effectively make private condos equivalent to Executive Condos ? How so ?

since foreigners cannot buy ECs and HDBs in the first place anyway. Now we have CM5 increasing the entry barrier for the foreigners. So the value perception between an ECs and a private condo is now blurring. I think that is why private condo resale is not taking off but ECs and new OCR condos are selling like hot cakes.

JMHO

[minority]

Methink you guys still did not realise the CM5 effectively make private condos equivalent to Executive Condos ? How so ?

since foreigners cannot buy ECs and HDBs in the first place anyway. Now we have CM5 increasing the entry barrier for the foreigners. So the value perception between an ECs and a private condo is now blurring. I think that is why private condo resale is not taking off but ECs and new OCR condos are selling like hot cakes.

JMHO

EC have tons of restriction plus even if u have $$$ cannot buy. Now it's all Sgp buyers. Not so much foreign.

[devilplate]

Methink you guys still did not realise the CM5 effectively make private condos equivalent to Executive Condos ? How so ?

since foreigners cannot buy ECs and HDBs in the first place anyway. Now we have CM5 increasing the entry barrier for the foreigners. So the value perception between an ECs and a private condo is now blurring. I think that is why private condo resale is not taking off but ECs and new OCR condos are selling like hot cakes.

JMHO

Many of us oredi mentioned this lor....

Woahahahaha

[devilplate]

EC have tons of restriction plus even if u have $$$ cannot buy. Now it's all Sgp buyers. Not so much foreign.

It makes things even better rite since we r seeing more hdb upgradders in the market now among local buyers

[teddybear]

To piss off all the old Singaporeans like me so that they will vote for the Opposition?

haha.. hopefully all these foreigners will absorb the 2nd hand flat at much higher price, stay n work hard another few years to pay for the mortgage, married and convert to singaporeans for the sake of their children. Perhpas continue to vote these policy makers into parliment. sounds like a win-win situation.


old singaporeans too much complaints liao. lol

[teddybear]

4-years SSD for private properties like 5-years MOP for HDB flats?

Methink you guys still did not realise the CM5 effectively make private condos equivalent to Executive Condos ? How so ?

since foreigners cannot buy ECs and HDBs in the first place anyway. Now we have CM5 increasing the entry barrier for the foreigners. So the value perception between an ECs and a private condo is now blurring. I think that is why private condo resale is not taking off but ECs and new OCR condos are selling like hot cakes.

JMHO

[bargain hunter]

sure there is. but not easy to find. and i assume the seller bought at 1900psf during developer launch in feb 2007 (before the real big run to jul 07), that means just 11% GROSS after 5 years. this range really either selling for squeezed profits or at losses.

Not true lah, still have buyer for this one:
ST THOMAS SUITES 4,263,668 2,013 Strata 2,118 Feb-12

[minority]

To piss off all the old Singaporeans like me so that they will vote for the Opposition?

Singaporean very hard to please. buyers want cheap housing Owners wants house to increase as much as possible to sell then want cheap housing..



C bay siong.....

[lufu]

cm6 will be a big headache if it comes. I am not sure who will be happy to see that coming.

potential buyers will be very happy. after CM5, developer started giving cash back and discount. e.g.

FEO gives 2-3% furniture voucher. It fact there is no voucher to speak of, this is a cash cheque given to buyer without affecting Caveat price. There are other developers doing this too. All giving "under table" cash back.

All these done without affecting caveat price and earlier buyer will still think they got a good deal. Especially those before CM5. Those who bought after CM5 are the ones laughing.

and if buyer don't declare their "furniture voucher" they're actually withdrawing more money out of their CPF or bank loan.

Of course now there are many more waiting for CM6 to come.

Over the course of time, if MAS or URA don't put a stop to this cashback thing, Caveat price can no longer be trusted.

[rattydrama]

To piss off all the old Singaporeans like me so that they will vote for the Opposition?

maybe you're pissed off but not at the point you will show it with your vote. haha

[rattydrama]

What quantum are you looking at?

one is around 2.xm and the other is around 1m.also waiting for reflections but still no luck. LOL

[rattydrama]

potential buyers will be very happy. after CM5, developer started giving cash back and discount. e.g.

FEO gives 2-3% furniture voucher. It fact there is no voucher to speak of, this is a cash cheque given to buyer without affecting Caveat price. There are other developers doing this too. All giving "under table" cash back.

All these done without affecting caveat price and earlier buyer will still think they got a good deal. Especially those before CM5. Those who bought after CM5 are the ones laughing.

and if buyer don't declare their "furniture voucher" they're actually withdrawing more money out of their CPF or bank loan.

Of course now there are many more waiting for CM6 to come.

Over the course of time, if MAS or URA don't put a stop to this cashback thing, Caveat price can no longer be trusted.

i will go for resale for now, not new launch.