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Thread: The Belvedere (D15, Freehold, Keppel Land)

  1. #61
    Buyer Guest

    Default Re: The Belvedere (D15, Freehold, Keppel Land)

    Quote Originally Posted by The Sunday Times
    Since The Belvedere is sold out some time back.
    Here are some tips for owners on the type of foreigners who are your potential buyers.

    Indonesians
    - Katong
    - River Valley
    - Orchard Road
    - Nassim Hill and Nissim Road
    - Bukit Timah

    Australians
    - East Coast, near the Meyer Road area
    - Holland Road
    - Pasir Panjang
    - Ang Mo Kio

    Indians
    - East Coast, especially around Meyer Road area and Tanjong Rhu area
    - Nassim Hill and Nassim Road
    - Binjai Park
    - Serangoon Road

    Why only Indonesians, Australians and Indians stay here?
    What about Middle Easten folks, Russians, Koreans, etc.?

  2. #62
    The Straits Times Guest

    Default Private Housing Prices 'May Pass 1996 Levels'

    The Straits Times
    6 July 2007

    The booming property market will drive prices for private housing above the 1996 peak by the middle of next year, according to an HSBC economist.

    Senior Asian economist, Robert Prior-Wandesforde, said on Friday, "The real estate market has probably further to run. We may be in some of the earliest stages of a bubble, but there is more for prices to go."

    "The private residential market is nowhere near that of mid-1996, so there is still room (for prices) to appreciate further even if we're in the early stages of a bubble."

    Mr Prior-Wandesforde believes that property prices will go higher partly because the ratio of home prices to income is only half that of 1996.

    Wage growth is also running at multi-year highs and interest rates are low.

    He also cited the speculative activity that is boosting prices.

    And while prices in strict number terms may pass 1996 levels soon, once factors including wage levels are accounted for, the real catch-up will be some way off.

  3. #63
    Alicia ERA Guest

    Default New Condo In District 15

    An upcoming condo in Singapore D15 is awaiting you!

    2 - 4 bedrooms units available!
    Freehold, near the upcoming MRT circle line, full facilities!

    Minutes to city, upcoming integrated resort (IR), airport & accessible to other parts of Singapore.

    Grab the chance now to make a good investment!

  4. #64
    Unregistered Guest

    Default Re: New Condo In District 15

    Quote Originally Posted by Alicia ERA
    An upcoming condo in Singapore D15 is awaiting you!

    2 - 4 bedrooms units available!
    Freehold, near the upcoming MRT circle line, full facilities!

    Minutes to city, upcoming integrated resort (IR), airport & accessible to other parts of Singapore.

    Grab the chance now to make a good investment!
    could we have more details thanks

  5. #65
    Unregistered Guest

    Default Re: The Belvedere (D15, Freehold, Keppel Land)

    Is this the Hong Leong one?

  6. #66
    Unregistered Guest

    Default Re: The Belvedere (D15, Freehold, Keppel Land)

    As the state develops into one of the most liveable cities in the world, residences by the water (especially the sea) will command a huge premium over any other residences. ECP is one seaside area. Marina Bay, Sentosa (but the Cove may be prone to Tsunami), Pasir Ris beachside, Tg Rhu Bay, and some scenic riverside towns. These will command even greater premium than central and downtown residences.

  7. #67
    Unregistered Guest

    Default Re: The Belvedere (D15, Freehold, Keppel Land)

    Ya for now but the future plan is to reclaim the east coast.The whole bloody stretch from Marine Parade to Bedok!

  8. #68
    Unregistered Guest

    Default Re: The Belvedere (D15, Freehold, Keppel Land)

    well that will be interesting, anyway does anyone have any info about far east org condo at former amberville site, heard lauch prices in the region of 1500 psf.

  9. #69
    Registered Guest

    Default Re: The Belvedere (D15, Freehold, Keppel Land)

    Quote Originally Posted by Unregistered
    Is this the Hong Leong one?
    Don't think so lah.
    I think this one is at Haig Road.

    Hong Leong one should be doing at around $1,500 to $2,400 psf.

  10. #70
    Meyer Guest

    Default Re: The Belvedere (D15, Freehold, Keppel Land)

    Quote Originally Posted by Registered
    Don't think so lah.
    I think this one is at Haig Road.

    Hong Leong one should be doing at around $1,500 to $2,400 psf.

    Wah!
    Higher than Seafront On Meyer leh.
    Seafront On Meyer from $1,300 to $2,200 psf only.

  11. #71
    Unregistered Guest

    Default Re: The Belvedere (D15, Freehold, Keppel Land)

    If I am the government, I will take measures to slow the growth to 5 to 7% per year (not quarter). This is healthier and sustainable. An exception I will make is the luxury class condo (above 2500psf). For these, the buyers will be less price-sensitive. So the measures will be these:

    1. Scrap deferred payment schemes and return to progressive payments.

    2. No bank loan amount above 80% of property value.

    3. Capital gain tax of 25% for sale of property bought within the last 2 years. If foreigner, the tax should be 35%.

    4. Additional foreigners stamp duty tax of 3 to 5% for buying property in Singapore. PR excluded.

    5. Luxury tax of 10% for those who bought property above $2500 psf. This is a way to give back to society.

  12. #72
    Join Date
    Apr 2007
    Posts
    62

    Default Re: The Belvedere (D15, Freehold, Keppel Land)

    Quote Originally Posted by Unregistered
    If I am the government, I will take measures to slow the growth to 5 to 7% per year (not quarter). This is healthier and sustainable. An exception I will make is the luxury class condo (above 2500psf). For these, the buyers will be less price-sensitive. So the measures will be these:

    1. Scrap deferred payment schemes and return to progressive payments.

    2. No bank loan amount above 80% of property value.

    3. Capital gain tax of 25% for sale of property bought within the last 2 years. If foreigner, the tax should be 35%.

    4. Additional foreigners stamp duty tax of 3 to 5% for buying property in Singapore. PR excluded.

    5. Luxury tax of 10% for those who bought property above $2500 psf. This is a way to give back to society.
    If you are the gahment,we are bankrupt oledy.

  13. #73
    Unregistered Guest

    Default Re: The Belvedere (D15, Freehold, Keppel Land)

    Quote Originally Posted by DRSG
    If you are the gahment,we are bankrupt oledy.
    I agree. Kind of drastic lar. Need to scale it down abit to this -

    1. Scrap deferred payment schemes and return to progressive payments.

    2. Capital gain tax of 15% for sale of property bought within the last 1 year.

    3. Luxury tax of 5% for those who bought property above $3000 psf. This is a way to give back to society.

  14. #74
    rpf2 Guest

    Default Re: The Belvedere (D15, Freehold, Keppel Land)

    Quote Originally Posted by Unregistered
    If I am the government, I will take measures to slow the growth to 5 to 7% per year (not quarter). This is healthier and sustainable. An exception I will make is the luxury class condo (above 2500psf). For these, the buyers will be less price-sensitive. So the measures will be these:

    1. Scrap deferred payment schemes and return to progressive payments.
    The interesting question is which authority will implement the scrapping. Property developers are not under MAS since they are not financial institutions. hence the only avenue MAS could do was to monitor/intervene via banks extending loans to property developers. Maybe this falls under Ministry of Finance purview...

    Quote Originally Posted by Unregistered
    2. No bank loan amount above 80% of property value.
    Not sure if they will do this since retail mortgages arent exactly growing at the moment. Also curbing this may not necessary curb the speculation since majority of them do not take loans in the first place under deferred payment scheme

    Quote Originally Posted by Unregistered
    3. Capital gain tax of 25% for sale of property bought within the last 2 years. If foreigner, the tax should be 35%.
    Govt implemented cap gains in 90s then removed it few years ago. For them to reinstate this may seem too much of a flip-flop. Not very pro-investor friendly to keep doing this.

    Quote Originally Posted by Unregistered
    4. Additional foreigners stamp duty tax of 3 to 5% for buying property in Singapore. PR excluded.
    This could happen. but last thing u want to do is stem the Foreign flows. Plus it would not address most of the flipping that is done by locals if restrict to foreigners only.

    Quote Originally Posted by Unregistered
    5. Luxury tax of 10% for those who bought property above $2500 psf. This is a way to give back to society.
    Not sure how much government wants to be perceived to be practicing discriminated taxing esp if they're cutting highest income tax bracket to attract talent i.e.

  15. #75
    G Ng Guest

    Default Banks' Exposure To Property Loans 'Still Below 35% Limit'

    Grace Ng
    Finance Reporter
    The Straits Times
    10 July 2007

    The overall exposure of Singapore banks to property-related loans taken out by investment buyers and financial institutions amid the property boom is rising. But experts are not worried. A new Citigroup report says the percentage is set to climb from 27% of total loans currently to 'closer to 30%' by year-end.

    But this is 'still comfortably below' a regulatory limit of 35%, it said. Foreign banks may be nearer to the limit than local ones, said Citigroup economist Chua Hak Bin yesterday.

    All these figures exclude property loans taken out by owner-occupiers - about 80% of all bank loans.

    If banks approach the limit, customers could be charged higher interest rates for investment- related mortgages compared to owner-occupied ones, suggested Dr Chua.

    Mr Paul Kwee, Citigroup Singapore's corporate bank director and head of real estate, noted: 'In view of the recent increase in lending activity, it may well be that certain banks have less appetite, and may become more selective in granting loans, as well as in reviewing the terms that go with the loans.'

    Dr Chua also pointed out that while speculative buying of property has risen and may climb further over the next few years, it is still well below the level seen in the property boom of the mid-1990s.

    So bank-loan exposure to the property sector 'is likely to remain within tolerable limits'.

    In May, about 25% of mortgages taken out by investment buyers and 33% of loans to financial institutions were property-related, estimated Citigroup. This works out to an overall property-related loan exposure for the banking sector of 28.7%, well below the 35% limit.

    The limit was introduced by the MAS in May 2001, as a safeguard to limit the risks of the banking system's exposure to property loans, especially speculative activity.

    But Dr Chua expects 'mortgage growth to accelerate' to near 30% in the next 6 months, as more new property projects are completed and some homebuyers on the deferred payment scheme apply for loans.

    A higher proportion of new mortgages are likely to be investment-related, given the 'already high home ownership in Singapore of about 93%'.

    OCBC Bank has seen the ratio of new applications for investment properties to owner-occupied ones rise, but the latter is still the 'key driver of overall sales', noted head of consumer secured lending Gregory Chan.

    DBS Bank and Maybank said about a fifth of their Singapore mortgages are for investment properties, while Standard Chartered Bank said the percentage is between 15 and 20%. The rest are owner-occupied ones.

    A Maybank spokesman argued that 'there is no direct relationship between loan rates and the 35% limit'. The pricing of mortgage rates and corporate loan rates depends on a combination of factors, such as the risk profile of the borrower, the purpose of the loan and the type of property mortgaged, she said.

    In his report, Dr Chua also noted that property speculation may have increased, as reflected in the rise in sub-sale deals to about 10.5% of total transactions for the April to May period, compared with about 3% 3 years ago. But this is still much lower than the 1990s peak.

  16. #76
    J Wong Guest

    Default More Expats Buying Homes As Rents Jump 35% In First Half: Analysts

    Jeana Wong
    Channel NewsAsia
    9 July 2007 2126 hrs

    Rising rentals in Singapore have led to more expatriates buying properties here.

    Property market watchers say a growing number of foreign executives are choosing to trade off living in upscale locations for bigger properties outside the city area and home ownership.

    According to some calculations, average rents in Singapore went up by 35% in the first 6 months of this year over the same period last year.

    This is causing expatriates to move to cheaper districts.

    And anecdotal evidence is suggesting that of late, more are thinking of buying their flats.

    Nicholas Mak, Consultancy and Research Director, Knight Frank, said: "Another group of expatriate tenants are actually considering buying properties - either buying the apartments they are renting, ... or considering asking for their rental package - their housing accommodation package - to be paid as a lump sum so that they can use that to purchase a home, maybe even a landed property."

    Flats in prime districts now rent for an average of S$3.26 per square foot a month, while those just outside of the central areas are letting for $2.30 per square foot a month.

    The districts of 9, 10 and 11 may be rental hotspots for most higher-end expats.

    But analysts say those seeking to buy tend to go for the upper-mid level properties between 15 to 20 years old in outlying areas like Clementi, Toh Tuck and even Loyang and Pasir Ris.

    Such expats, some of whom are permanent residents, typically have a budget of just over a million dollars.

    Donald Han, Managing Director, Cushman and Wakefield, said: "We've actually started to see out of 10 expatriates that we serve, at least one will be looking into either leasing or potentially even buying. And quite a fair bit of those will ultimately decide to purchase rather than lease. Typically they'll look into the fringe of Districts 9, 10, and 11.

    "They will look into properties which are not the top end, more into the upper-mid level, potentially within the S$800 to as much as S$1,200 psf. And the units could be of the size of one- to two-bedroom kind of apartments. For landed property, typically perhaps a District 21, landed terrace houses which might go in the region of a million to S$1.2 million."

    Property market watchers say the upward pressure on rental prices is unlikely to let up over the next 12 months.

    Mr Mak said: "Private home rentals are still going to face a lot of upward pressure for the rest of this year and probably for the first half of next year. This year alone, we could easily see average rentals go up by anywhere from 15% to even as much as 25%."

    Mr Han said: "Rental will continue to rise by virtue that it's really a landlord's market. I suspect rental in the next 12 months will probably continue to rise between the range of about 20% to 25% from current levels."

    This comes as demand continues to grow and collective sales aggravate the already limited supply available.

  17. #77
    Meyer Road Landlord Guest

    Default Influx Of Expats Fueling Singapore Housing Boom

    They are coming fast. Quick, join me and be a landlord in Meyer Road too.

    AFP Singapore
    Wednesday, 11 July 2007

    "The owners are getting greedy. It's really a landlord's market right now." - property agent.

    Malaysian financial executive Ron Tan wasted no time in renewing his lease for a 3-bedroom apartment in Singapore when his landlord decided to raise the monthly rent by S$300 (US$199).

    "I see no point in haggling. The way the market is right now, I think my landlord is very reasonable," said Tan, who counts himself among the lucky few to escape the pain of a red hot property market.

    Other foreign executives have no such luck as they find themselves hit with rents that have increased by as much as 50%, or more, amid a property boom in the city-state.

    At the Bayshore Park condominium, popular with foreigners because of its closeness to the beach, monthly rents for a 2-bedroom unit have doubled to US$2,800 from a year ago.

    "The owners are getting greedy. It's really a landlord's market right now," said a property agent who wanted to be identified only as May.

    Singapore is now the 8th most pricey city in Asia in terms of housing costs for expatriates, global human resources firm ECA International said.

    The firm's latest survey of global accommodation costs showed rents for a three-bedroom apartment in residential areas popular with expatriates jumped 15% from 2005 to an average US$5,113 a month last year.

    Fueling the rental boom is the huge influx of foreigners into the Southeast Asian state as the government seeks to recruit more skilled professionals to augment its local workforce.

    Foreigners make up 18% of Singapore's 4.4 million population. The government is planning for a population of 6.5 million over the next 50 years and experts say the bulk of the additional 2 million people will come from abroad.

    Singapore's robust economy is also a factor behind the current rental spike with more multinational companies (MNCs) relocating staff to the city-state, which serves as their regional headquarters, observers said.

    "Basically, if we look at the causes of this, a lot of it is being driven by demand," said Lee Quane, general manager of ECA International.

    "The economy in Singapore is doing very well. MNCs are expanding their operations and are bringing in more expatriates," he said.

    Global property consultancy Savills expects the rental crunch to worsen with more foreigners expected to arrive as the government seeks to further entrench the city-state's status as a regional business hub.

    "We expect the rental market to continue to perform well. The number of foreigners is expected to increase with the expansion of companies as well as the increasing number of new firms, especially from the financial sector," Savills said.

    Despite the massive rental hikes, recruitment specialists do not expect Singapore to surrender its cost advantage over arch economic rival Hong Kong anytime soon.

    The southern Chinese territory is still the world's most expensive city in which to rent a 3-bedroom apartment and living costs are generally regarded as higher than in Singapore.

    "Rentals have also risen in Hong Kong and it is generally accepted to be a city that has a higher cost of living versus Singapore, so the differential still exists," said Mark Ellwood, a director with recruitment firm Robert Walters.

    For foreign executives or companies planning to relocate staff to the region, accommodation cost is not the only factor taken into account, Ellwood said.

    "From our perspective, we are not seeing this as a reason for people to relocate either as individuals or as corporates," he said. "It's a consideration but it isn't the major driving factor and Singapore is very much an attractive city for people to live and work and for organizations to headquarter into."

    Hong Kong's worsening pollution problem has also worked to Singapore's advantage, Ellwood said.

    "What we are experiencing more and more is that many people, particularly with young families, would like to relocate from Hong Kong to Singapore because they perceive Singapore to be a cleaner city and they are concerned about the levels of pollution in Hong Kong especially if they have young children," he said.

  18. #78
    Interested Guest

    Default Re: Influx Of Expats Fueling Singapore Housing Boom

    Quote Originally Posted by Meyer Road Landlord
    They are coming fast. Quick, join me and be a landlord in Meyer Road too.

    AFP Singapore
    Wednesday, 11 July 2007

    "The owners are getting greedy. It's really a landlord's market right now." - property agent.

    ....................

    "What we are experiencing more and more is that many people, particularly with young families, would like to relocate from Hong Kong to Singapore because they perceive Singapore to be a cleaner city and they are concerned about the levels of pollution in Hong Kong especially if they have young children," he said.


    Which units do you recommend?
    What is a reasonable price?

  19. #79
    Unregistered Guest

    Cool Re: The Belvedere (D15, Freehold, Keppel Land)

    What is a realistic resale price for Belvedere ? now.

  20. #80
    Real Estate Pundit Guest

    Default Caveats for Belvedere. Has the sky fallen?

    #17-07 1238sqft $1260psf $1,559,880 01Jul08
    #05-01 1378sqft $1200psf $1,653,600 9Jun08
    #22-03 1367sqft $1430psf $1,954,810 5Jun08
    #14-02 1367sqft $1353psf $1,850,000 29May08
    #21-02 1367sqft $1683psf $2,300,000 12May08
    #02-03 1367sqft $1180psf $1,613,060 23Apr08
    ..
    ..
    ..
    ..
    #19-04 1302sqft $1610psf $2,096,220 22Dec07
    #23-04 1302sqft $1640psf $2,135,280 26Oct07
    #21-01 1378sqft $1727psf $2,380,000 15Oct07
    #15-05 1367sqft $1550psf $2,118,850 5Oct07
    #21-03 1367sqft $1600psf $2,187,200 22Aug07
    #18-01 1378sqft $1650psf $2,273,700 7Aug07

  21. #81
    potential buyer Guest

    Default

    what do you guys think....any further drop expected?

  22. #82
    Real Estate Pundit Guest

    Default

    Quote Originally Posted by potential buyer
    what do you guys think....any further drop expected?
    The writing is on the wall! The worst will happen before any recovery....

    Why? There are still a lot of early buyer holding on to purchases they made in 2005 and 2006 at around the high $700 to low $800 psf. Even if they sell now 'below' market at $1000 psf, they still gain 15 to 25%.

    In fact, these groups of owners are the ones most feared by the developers.

  23. #83
    CX Guest

    Smile The Belvedere

    Is High floor above 20storey for stack 5 @ $1200.00psf a good buy?

  24. #84
    Real Estate Pundit Guest

    Default

    Quote Originally Posted by CX
    Is High floor above 20storey for stack 5 @ $1200.00psf a good buy?
    If you look at the recent caveats (see pg 4 of this thread) for The Belvedere, $1200 will set a new low psf for high floor units for this year.

  25. #85
    bel Guest

    Default

    Quote Originally Posted by Real Estate Pundit
    #17-07 1238sqft $1260psf $1,559,880 01Jul08
    #05-01 1378sqft $1200psf $1,653,600 9Jun08
    #22-03 1367sqft $1430psf $1,954,810 5Jun08
    #14-02 1367sqft $1353psf $1,850,000 29May08
    #21-02 1367sqft $1683psf $2,300,000 12May08
    #02-03 1367sqft $1180psf $1,613,060 23Apr08
    ..
    ..
    ..
    ..
    #19-04 1302sqft $1610psf $2,096,220 22Dec07
    #23-04 1302sqft $1640psf $2,135,280 26Oct07
    #21-01 1378sqft $1727psf $2,380,000 15Oct07
    #15-05 1367sqft $1550psf $2,118,850 5Oct07
    #21-03 1367sqft $1600psf $2,187,200 22Aug07
    #18-01 1378sqft $1650psf $2,273,700 7Aug07
    15-05 is only 1259sqft right?

  26. #86
    Tellis Guest

    Default

    Quote Originally Posted by Real Estate Pundit
    If you look at the recent caveats (see pg 4 of this thread) for The Belvedere, $1200 will set a new low psf for high floor units for this year.
    But during low times,is this considered high price?

  27. #87
    Join Date
    Mar 2008
    Posts
    1,014

    Default Low price in Low time...

    How much lower will it go, what will be trend for rest of year ?

  28. #88
    Real Estate Pundit Guest

    Default

    Quote Originally Posted by Tellis
    But during low times,is this considered high price?
    Yes, this is high compared to 2005/2006 where owners paid the developer between $750 - $850 psf for this development.

    I doubt we will see $800psf again for this development....but I could be wrong. This will hinge on Singapore's ability to attract new expat that will be able to take up the slack in the rental market.

  29. #89
    Real Estate Pundit Guest

    Default

    Quote Originally Posted by latour
    How much lower will it go, what will be trend for rest of year ?
    I have no crystal ball but my guess is this downward trend will continue well into next year.

    Property prices are a reflection in buyers confidence.....and this is very lacking this whole year.

  30. #90
    Join Date
    May 2008
    Posts
    40

    Default

    Quote Originally Posted by Real Estate Pundit
    I have no crystal ball but my guess is this downward trend will continue well into next year.

    Property prices are a reflection in buyers confidence.....and this is very lacking this whole year.
    actually interested in this project . agents please give mi a call at 98260546 . Thanks . .

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