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

[challenger]

Teddy is right that the days of buying new BTO flat and hoping to profit from it is over. However, many people so use to asset enhancement scheme over the last 30 years find it hard to accept and that is understandable.

The main reason for MAS relaxed car rule was to pop up consumer index and avoid the index going into deflation. Car sale plays a significant portion of our consumer index and inflation. MAS did not say it because it action was not consistent with car-lite concept.

Heard that the government was reacting to complaints by authorized dealers. Apparently the parallel importers are gaining market share. Some parallel importers over declare the cost of the vehicle thus allowing buyers take a larger loan. Silently return back the excess amount in cash. Everyone happy.

Anyway just sharing gossip. Don't flame me.

[challenger]

Secondly, car lite has nothing to do with financing. The COE quota (car numbers) determines car lightness, financing only determines price people end up paying. You do not get more or less cars because COE goes up or down.

I agree. But government is pushing for car lite and taking of public transport or cycling. Making it easier to buy car does not gel with their message of prudent expenditure, spend within means.

[Kelonguni]

Think you have got it wrong again though........

New BTOs flat will never fetch the kind of increase like in the past, other than because there is re-focus for people to treat HDB flats as a consumption for own-stay and not investment, and also because of the following:

1) New BTO flats are cheap by absolute quantum, but they are actually more expensive by $PSF because the size has shrunk tremendously, and new 5-room HDB flats are now mostly 1100 sqft (vs >1300 sqft for old HDB flats).

2) New HDB flats are more bare-bone than old HDB flats (when they come new).

3) If the people are unable and have no mean to buy a 2nd property to live in (because their HDB flats didn't allow them to profit and easily upgrade to private properties), what rental are you talking about?
Face it, most HDB owners will not get rental from their HDB flats!

1. Try telling that to people who live happily in the new HDBs. Even 3 Gens....

2. What's the issue with bare bones? HDB has always been bones, it used to be more bones.

3. A secret for people who are aware of HDB owners' situations and for you to find out.

Peace.

[bargain hunter]

http://www.propertyguru.com.sg/listi...ess-residences

following the footsteps of the other duchess penthouse........

[stalingrad]

http://www.propertyguru.com.sg/listi...ess-residences

following the footsteps of the other duchess penthouse........

Too much useless space. Don't fall for the marketing gimmick.

[teddybear]

So true. So when they make financing more difficult (like property cooling measures), they are trying to reduce the number of people who are eligible to buy and hopefully cause price decline for properties.......

Similarly, when they artificially try to make financing more easy, like recent car financing easing measures, they are trying to increase the number of people who are eligible to buy, create more demand and hopefully cause COE prices to increase.......... So ultimately this is a revenue generating measure (and supposedly preparing for the poor economic environment they are envisaging going forward)??????????

If this still doesn't work, may be they will introduce more car financing easing measures like 100% car financing again in future (just like in the past when shit hit the fence and they want to prop up COE price)?

Several gross misunderstandings...

New BTO flat maybe will not see that kind of increase in the past but that is also because no triggering event. But the low price way below existing rental rates for HDB is already an asset enhancement.

Secondly, car lite has nothing to do with financing. The COE quota (car numbers) determines car lightness, financing only determines price people end up paying. You do not get more or less cars because COE goes up or down.

[Pynchmail]

So true. So when they make financing more difficult (like property cooling measures), they are trying to reduce the number of people who are eligible to buy and hopefully cause price decline for properties.......

Similarly, when they artificially try to make financing more easy, like recent car financing easing measures, they are trying to increase the number of people who are eligible to buy, create more demand and hopefully cause COE prices to increase.......... So ultimately this is a revenue generating measure (and supposedly preparing for the poor economic environment they are envisaging going forward)??????????

If this still doesn't work, may be they will introduce more car financing easing measures like 100% car financing again in future (just like in the past when shit hit the fence and they want to prop up COE price)?

Exactly. Which is why I think the first cooling measure to be relaxed will be relaxing the LTV for second and subsequent properties purchase (just like for cars) and not the ABSD. ABSD is generating a lot of tax revenue for the State and more and more States are introducing it, with Victoria in Australia being the latest.

[bargain hunter]

Urban Suites

Sold 14 JUN 2016 5 HULLET ROAD #XX-XX 2,045sq ft 2,567psf
Bought 5 FEB 2010 2,552psf

Sold very close to buy price.

[bargain hunter]

Rivergate

Sold 8 JUN 2016 99 ROBERTSON QUAY #XX-XX 1,550sq ft 1,681psf
Bought 22 AUG 2011 1,903psf

[bargain hunter]

Scotts Square

Sold 7 JUN 2016 8 SCOTTS ROAD #XX-XX 1,249sq ft 3,043psf
Bought 6 NOV 2007 4,006psf

[bargain hunter]

Ardmore II

Sold 1 JUN 2016 2 ARDMORE PARK #XX-XX 2,024sq ft 2,582psf
Bought 23 SEP 2010 2,771psf

[Kelonguni]

Bro, I bet you have forgotten how long you have ranted against OCR. This was but one post in 2012 when I first joined this forum. Need me to find some more?

Yes, we must be adaptive, like shout "CRASH" ah when it is the right time, like now!
Not sure all those crazy new launch OCR buying at record-breaking $PSF can last how long?

[Kelonguni]

Sorry was responding to another post. Please carry on with CCR bargains.

[stalingrad]

Bro, I bet you have forgotten how long you have ranted against OCR. This was but one post in 2012 when I first joined this forum. Need me to find some more?

Must forgive Teddy. He has lost at least 30% of his wealth. Ouch.

[bargain hunter]

missed out this leedon residences one earlier:

Sold 30 MAY 2016 10 LEEDON HEIGHTS #XX-XX 2,110sq ft 1,706psf
Bought 10 JUN 2013 1,770psf

[bargain hunter]

wow, this is a big one: Paterson Suites

Sold 17 JUN 2016 55 PATERSON ROAD #XX-XX 1,679sq ft 2,156psf
Bought 19 SEP 2007 3,850psf

[bargain hunter]

wow, this is a big one: Paterson Suites

Sold 17 JUN 2016 55 PATERSON ROAD #XX-XX 1,679sq ft 2,156psf
Bought 19 SEP 2007 3,850psf

buy high sell low. 3850psf is the highest psf ever recorded for this project. 2156psf is the 2nd lowest psf for standard unit (the other being 2150psf)

[bargain hunter]

last chance to get out of martin place. Tender for GLS site closed 4 hours ago.

3 caveats lodged today, 2 losses and 1 who bought low from developer sold at current price registered a gain:

Sold 20 JUN 2016 2 MARTIN PLACE #XX-XX 1,722sq ft 1,985psf
Bought 18 JUN 2012 1,997psf

Sold 17 JUN 2016 2 MARTIN PLACE #XX-XX 1,421sq ft 2,055psf
Bought 29 NOV 2011 2,111psf

Sold 20 JUN 2016 2 MARTIN PLACE #XX-XX 1,421sq ft 2,059psf
Bought 11 JUN 2009 1,488psf

[bargain hunter]

Orchard Scotts

Sold 16 JUN 2016 7 ANTHONY ROAD #XX-XX 2,282sq ft 1,468psf
Bought 3 JUL 2007 2,520psf

[bargain hunter]

The Draycott

Sold 15 JUN 2016 XX DRAYCOTT PARK 2,788sq ft 1,793psf
Bought 29 APR 2011 2,188psf

[proud owner]

last chance to get out of martin place. Tender for GLS site closed 4 hours ago.

3 caveats lodged today, 2 losses and 1 who bought low from developer sold at current price registered a gain:

Sold 20 JUN 2016 2 MARTIN PLACE #XX-XX 1,722sq ft 1,985psf
Bought 18 JUN 2012 1,997psf

Sold 17 JUN 2016 2 MARTIN PLACE #XX-XX 1,421sq ft 2,055psf
Bought 29 NOV 2011 2,111psf

Sold 20 JUN 2016 2 MARTIN PLACE #XX-XX 1,421sq ft 2,059psf
Bought 11 JUN 2009 1,488psf

the plot goes to GuocoLand ...

[bargain hunter]

the plot goes to GuocoLand ...

yah lah. i expected it to be sold at this price (1239psf). ie > 1,200psf. construction gonna hurt martin place resi rentals.

[khng]

Is that why you say it's the last chance to get out of Martin Place Residence?

[proud owner]

yah lah. i expected it to be sold at this price (1239psf). ie > 1,200psf. construction gonna hurt martin place resi rentals.

Not just Martin place...but the noise can also be a concern for renters looking at Rivergate, Urbana, etc

[bargain hunter]

Not just Martin place...but the noise can also be a concern for renters looking at Rivergate, Urbana, etc

the plot is right at the middle. oleanas, waterford, wharf all kenna. that is also why TA quickly discount and unload balance units at starlight suites to that bulk purchaser.

[bargain hunter]

Is that why you say it's the last chance to get out of Martin Place Residence?

yes, last chance to get out. when construction starts, sellers will need to hold out till a willing buyer comes along.

[bargain hunter]

yes, last chance to get out. when construction starts, sellers will need to hold out till a willing buyer comes along.

if cannot hold and sell at new low psf, then LL sabo the development lor. starlight developer already did so with that discount to bulk purchaser but it sold the company so no caveats r lodged.

[wannabe]

RV EDGE 2 Shanghai Road #07-16 99 1490000 1398 21-Jun-2016 10 Freehold 2013 Resale Apartment Strata 1
RV EDGE 2 Shanghai Road #07-16 99 1535100 1441 22-Feb-2010 10 Freehold Uncompleted New Sale Apartment Strata 1

[teddybear]

Ha ha ha! Freehold CCR cheaper than 99-year Leasehold OCR!
Wonder who are the goondu still buying 99-year OCR at near that kind of price?

RV EDGE 2 Shanghai Road #07-16 99 1490000 1398 21-Jun-2016 10 Freehold 2013 Resale Apartment Strata 1
RV EDGE 2 Shanghai Road #07-16 99 1535100 1441 22-Feb-2010 10 Freehold Uncompleted New Sale Apartment Strata 1

[bargain hunter]

Visioncrest

Sold 22 JUN 2016 39 OXLEY RISE #XX-XX 1,227sq ft 1,915psf
Bought 21 AUG 2007 2,472psf