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

[stalingrad]

If CCR turn into dust, what will become of OCR? OCR will turn into Shit?

As I said before, Singapore has good infrastructure, and we can live safely and still invest in all kind of investments around the world without stepping outside of Singapore.

So if you are capable, Singapore is Oysters! We smell the roses with nice coffee every morning in bright and sunny weather! We don't have to endure cold weather with gloomy sky (known to cause many people to go into depression) and carry around and wear stupid thick clothings etc.................

If you are not capable, then unfortunately you have to leave Singapore then.............

Teddy, for your information, I left not because I had to. My employer asked me to go back one year after I left. I just laughed it off.

I left because I was bored to death by the sterile society devoid of life and excitement. I was also tired of the heat and humidity. I just couldn't imagine living there for the rest of my life. It is not a knock on Singapore. It is just me.

[teddybear]

To each his own.....
Nevertheless, we are seeing many multi-millionaires migrating to Singapore, so this also tells us that if you "have", you will want to move to Singapore for all its allures, its safety and its heat but bright and sunny weather........
If you "don't have", you will need to slough and may be moving out of Singapore is better for you (which is what you have done)..........

Teddy, for your information, I left not because I had to. My employer asked me to go back one year after I left. I just laughed it off.

I left because I was bored to death by the sterile society devoid of life and excitement. I was also tired of the heat and humidity. I just couldn't imagine living there for the rest of my life. It is not a knock on Singapore. It is just me.

[Arcachon]

We don't have to endure cold weather with gloomy sky (known to cause many people to go into depression) and carry around and wear stupid thick clothings etc.................

Don't know why I miss the cold.

[Arcachon]

[stalingrad]

I like it cold too. Can't stand Singapore's heat and humidity, which gave me sun spots, fungus all over my body. They have mostly gone now.

[teddybear]

If you miss the cold, why not just move to a cold place (like Stalingrad)?

Don't know why I miss the cold.

[Laguna]

https://sg.yahoo.com/finance/news/la...000000624.html

[Amber Woods]

https://sg.yahoo.com/finance/news/la...000000624.html

All these data showing sellers making profits clearly show that if you buy during the low, you make profits. If you buy during the peak, you make losses. Clearly, these savvy investors who are making profits know timing is important.

[Khng8]

I am thinking most buyers now will think they are not buying at the peak.
After so many cooling measures and for so long now, should be safe (relatively) to go in.

[smellyfish]

what's been painful for many CCR investors is that they lose money even though they bought in 2008/9 after the biggest financial crisis in recent memories.
many of the profitable transactions are people who bought in the early 2000s after 911, dotcom crash, SARS. that's not one but two cycles ago, and a holding of 15 years plus minus.

[Kelonguni]

There are always those who bought at the best of times and still lose money, as well as those who bought at the worst times but still gain lots.

Distortion mechanisms may amplify or reverse these micro trends. Same situation with stocks or bonds.

The toughest skill to pick up is actually to recognize how to maximize or optimize net gains in all market conditions.

[tonymontana]

what's been painful for many CCR investors is that they lose money even though they bought in 2008/9 after the biggest financial crisis in recent memories.
many of the profitable transactions are people who bought in the early 2000s after 911, dotcom crash, SARS. that's not one but two cycles ago, and a holding of 15 years plus minus.

if you read laguna's posted link, it's clear that they made profit.

"The most profitable transaction of the week was the sale of a 2,260 sq ft, three-bedroom unit at Four Seasons Park in prime District 10. The seller made a $1.2 million profit on June 1. He purchased the unit for $3.55 million ($1,570 psf) in April 2009 and sold it for $4.75 million ($2,102 psf), translating into a profit of 34%, or 4% annualised over eight years."

[stalingrad]

Yahoo's anecdotes are no fake news, but it is not a big deal. Anyone who bought an OCR condo is 2006-2007 would be sitting on an 80%-100% paper profit.

[bargain hunter]

what's been painful for many CCR investors is that they lose money even though they bought in 2008/9 after the biggest financial crisis in recent memories.
many of the profitable transactions are people who bought in the early 2000s after 911, dotcom crash, SARS. that's not one but two cycles ago, and a holding of 15 years plus minus.

for CCR, i think most of the buyers who bought in Jan 2007 or before are still largely in the money at current prices. some exceptions would be St Regis and some Ardmore area projects (for those who paid premium for premium floors). there is another period of buyers after that who probably could be sitting on/sold their properties at profits, that would be from late 2008 (after lehman) till around june 2009. those who bought from H2 2009 (fast rising prices) till mid 2013 (most draconian measures and TDSR restrictions) would largely be "trapped". those who bought from 2014 onwards are probably about flat if they had bargained hard enough with their purchase prices.

[teddybear]

Conclusion:
CCR property price has crashed!
OCR property price is now at THOUSANDS YEARS HISTORICAL PEAK!

what's been painful for many CCR investors is that they lose money even though they bought in 2008/9 after the biggest financial crisis in recent memories.
many of the profitable transactions are people who bought in the early 2000s after 911, dotcom crash, SARS. that's not one but two cycles ago, and a holding of 15 years plus minus.

Yahoo's anecdotes are no fake news, but it is not a big deal. Anyone who bought an OCR condo is 2006-2007 would be sitting on an 80%-100% paper profit.

[Kelonguni]

There is no Orchard Road 100 years ago.

Conclusion:
CCR property price has crashed!
OCR property price is now at THOUSANDS YEARS HISTORICAL PEAK!

[teddybear]

People who bought CCR in 2007 HISTORICAL PEAK price were BURNT badly subsequently (some even now 10 years later still under-water)!

Similarly, People who bought OCR in recent few years or buying now at THOUSAND YEARS HISTORICAL PEAK price would NO DOUBT be BURNT badly subsequently! (and would they also similarly be under-water there after for subsequent 10 years?)

There is no Orchard Road 100 years ago.

Conclusion:
CCR property price has crashed!
OCR property price is now at THOUSANDS YEARS HISTORICAL PEAK!

[Ann_55]

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At the website, click "show search filter" or Magnifier icon to show the filter form.

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All the best in your search.

[Laguna]

The seller of a 2,314 sq ft unit at Urbana in prime District 9 incurred the biggest loss for the week of June 6 to 13. He bought the unit in a sub-sale for $5.55 million ($2,399 psf), the project’s highest price on record in terms of both quantum and psf price, in August 2007 and sold it for $3.52 million ($1,521 psf) on June 7. The $2.03 million loss, the biggest at Urbana so far, translates into 37%, or 5% a year over a holding period of nearly 10 years.

[stalingrad]

The seller of a 2,314 sq ft unit at Urbana in prime District 9 incurred the biggest loss for the week of June 6 to 13. He bought the unit in a sub-sale for $5.55 million ($2,399 psf), the project’s highest price on record in terms of both quantum and psf price, in August 2007 and sold it for $3.52 million ($1,521 psf) on June 7. The $2.03 million loss, the biggest at Urbana so far, translates into 37%, or 5% a year over a holding period of nearly 10 years.

Don't take it serious. Many of these owners are from China and Indonesia, and their money was ill-gotten. The Chinese got their money through corruption, and the Indos got their money through illegal logging and forest burning. Money to them is easy come easy go. They stole the money and someone stole the money from them in Singapore. It is just karma.

[teddybear]

And who is stealing the money from those pitiful working class OCR private property buyers paying a price at THOUSAND YEARS HISTORICAL PEAK?

I suppose their property price to annual income ratio is also at THOUSAND YEARS HISTORICAL PEAK so much so that they have to work like serf and work till they die (that is providing there is job for them after 50 years old)?

Don't take it serious. Many of these owners are from China and Indonesia, and their money was ill-gotten. The Chinese got their money through corruption, and the Indos got their money through illegal logging and forest burning. Money to them is easy come easy go. They stole the money and someone stole the money from them in Singapore. It is just karma.

[Kelonguni]

I am pretty sure you did not check out the recent HDB prices. Some of the OCR condos are priced barely above comparable HDBs in the same vicinity.

HDB is more peak than OCR actually.

And who is stealing the money from those pitiful working class OCR private property buyers paying a price at THOUSAND YEARS HISTORICAL PEAK?

I suppose their property price to annual income ratio is also at THOUSAND YEARS HISTORICAL PEAK so much so that they have to work like serf and work till they die (that is providing there is job for them after 50 years old)?

[teddybear]

I have no idea since I don't check out HDB prices.
Care to share which are the areas?

I am pretty sure you did not check out the recent HDB prices. Some of the OCR condos are priced barely above comparable HDBs in the same vicinity.

HDB is more peak than OCR actually.

[Kelonguni]

I have no idea since I don't check out HDB prices.
Care to share which are the areas?

Anyhow pick some.

http://www.propertyguru.com.sg/listi...7Ctl3%7C17%7C1

http://www.propertyguru.com.sg/listi...%7Ctl3%7C3%7C2

http://www.propertyguru.com.sg/listi...7Ctl3%7C23%7C1

[teddybear]

Those are for HDB flats, asking for ~$600 psf, and they are RESALE? (means for selling to foreigners, while Singaporeans buying at like 2/3 the price only for new 99-years leasehold).
Furthermore, it is just that: "ASKING" price. We can always ask for the sky. What really matters is the ACTUAL transaction $ psf.

What about condo prices in nearby vicinity? They are like >$1400 psf already?
If so, how can HDB flats be more expensive than condo prices?

Anyhow pick some.

http://www.propertyguru.com.sg/listi...7Ctl3%7C17%7C1

http://www.propertyguru.com.sg/listi...%7Ctl3%7C3%7C2

http://www.propertyguru.com.sg/listi...7Ctl3%7C23%7C1

[anythingwhatever]

Those are for HDB flats, asking for ~$600 psf, and they are RESALE? (means for selling to foreigners, while Singaporeans buying at like 2/3 the price only for new 99-years leasehold).
Furthermore, it is just that: "ASKING" price. We can always ask for the sky. What really matters is the ACTUAL transaction $ psf.

What about condo prices in nearby vicinity? They are like >$1400 psf already?
If so, how can HDB flats be more expensive than condo prices?

By PSF alone, HDBs certainly cheaper than Condos.

By absolute quantum and by equivalent/similar number of bedrooms, the gaps are narrower nowadays (PC used to be around double or more as compared to equivalent/similar HDBs).

Take the new launch Clement Canopy for example, the gap between 3BR Resale HDB (750K) and 3BR New PC (1.28M) is much less than double.



If older LH Condos are compared instead, the gaps maybe even narrower.

Kelonguni can correct if this wasn't what's meant.

[frumnat]

Anyhow pick some.

http://www.propertyguru.com.sg/listi...7Ctl3%7C17%7C1

http://www.propertyguru.com.sg/listi...%7Ctl3%7C3%7C2

http://www.propertyguru.com.sg/listi...7Ctl3%7C23%7C1

Crazy pricing for old resale HDB...

[frumnat]

Don't take it serious. Many of these owners are from China and Indonesia, and their money was ill-gotten. The Chinese got their money through corruption, and the Indos got their money through illegal logging and forest burning. Money to them is easy come easy go. They stole the money and someone stole the money from them in Singapore. It is just karma.

Totally agree. Those rich people are usually not stupid but instead very savvy and thus they are wealthy. Media outlets report them as big losses but rather these sellers cannot be happier as their money are now legitimised. They pay $5m dirty money and get back $3m clean money to go and generate another $2m or more while we are made to think they are the stupid people making losses on SG property.

[Arcachon]

I have no idea since I don't check out HDB prices.
Care to share which are the areas?

https://services2.hdb.gov.sg/web/fi10/emap.html

[bargain hunter]

Waterscape

Sold 22 JUN 2017 65C CAVENAGH ROAD #XX-XX 581sq ft 1,749psf
Bought 5 MAR 2010 1,777psf