PDA

View Full Version : Furniture Vouchers Upon TOP, are Buyers Biting?



land118
12-02-11, 09:30
FEO is given furnitures voucher equivalent to 3-5% of purchase price upon TOP, are Buyers biting this? I check today's ST papers:

The Shore: 3%
The Sound: 3%
Horizon Residences: 3%
Waterfront isle: 5%

Anyone know furniture vouchers from which furniture store? Wonder if this "sweetener" has been effective to help Agent push and clinch deals since last's month cooling measures introduced.

Geylang OKT
12-02-11, 09:44
Could this be 1996 all over again? :D

azeoprop
12-02-11, 09:54
It is actually cash rebate. When project TOP and you (bank loan) have paid up 85%, they you give you this cash back.

Do note that the amount you can loan is reduced by this 3-5% amount.

land118
12-02-11, 10:24
It is actually cash rebate. When project TOP and you (bank loan) have paid up 85%, they you give you this cash back.

Do note that the amount you can loan is reduced by this 3-5% amount.
Oh, like that so " term furniture vouchers" stated in ads is a disgust for discount?

Another ads in ST today page B6 promoting [email protected] along Upper Serangoon b4 Kovan, state " bring along this advertisement and enjoy 3% discount", very clear readers would know it is discount upfront.

CCR
12-02-11, 13:20
So psf prices remains high in URA website... So they can answer to previous owner who bought higher... And if you sell before top, then no more discount.. So overall far east give less than 5% discount... Smart...

land118
12-02-11, 14:03
So psf prices remains high in URA website... So they can answer to previous owner who bought higher... And if you sell before top, then no more discount.. So overall far east give less than 5% discount... Smart...
Actually, FEO most "kiam", for them to give this type of furniture rebates means they want sales, so the Waterfront Isle project that they giving 5% would mean sales not within their expectation, if not probably 3%, like most of their existing projects.

land118
12-02-11, 14:16
Fri, 11 Feb ST papers, Floridian: 3% page b22 by FEO also have furniture vouchers.

Wild Falcon
12-02-11, 15:17
How can they term this discount as "furniture vouchers"? I think our authorities should investigate. The intention is clear - to keep the PSF high - since "furniture vouchers" presumably can be disguised as an "expense" item which does not affect sales/revenue...

Obviously FEO is not confident of some projects in certain districts to start cutting prices (in essense = price cut).

rattydrama
12-02-11, 15:18
Fri, 11 Feb ST papers, Floridian: 3% page b22 by FEO also have furniture vouchers.

When market not so good, FEO is the first to throw freebies.

rattydrama
12-02-11, 15:20
How can they term this discount as "furniture vouchers"? I think our authorities should investigate. The intention is clear - to keep the PSF high - since "furniture vouchers" presumably can be disguised as an "expense" item which does not affect sales/revenue...

Obviously FEO is not confident of some projects in certain districts to start cutting prices (in essense = price cut).

Under MAS rules, when take bank loans, the owner have to sign undertaking letter to declare any discount,rebates including furniture vouchers received. Its already in the current system. In 2009, I do have a 2% cash rebates upon TOP which I have to declare. This 2% is non transferrable should I subsale the unit to the new owner.

sleek
12-02-11, 15:25
Looks like Tharman's turn to talk to press liao! :D

med80009
12-02-11, 15:32
How can they term this discount as "furniture vouchers"? I think our authorities should investigate. The intention is clear - to keep the PSF high - since "furniture vouchers" presumably can be disguised as an "expense" item which does not affect sales/revenue...

Obviously FEO is not confident of some projects in certain districts to start cutting prices (in essense = price cut).

"furniture voucher" as a "rebate" seems like a smart calculated move:

1. The transaction price remains the same until TOP
2. Illusion of a cheaper price (if subsale then rebate gone liao... need to sell at least 20% higher to break even - 17% SSD + 3% rebate - no factoring other cost: lawyer, buyers stamp duty lalalala.. )
3. Circumvent the MAS regulations (loan amount still LTV -3% from rebate)
4. A carrot for the consumer to buy now as they can remove it anytime, especially if the sales volume are good.

Very smart move by FEO, won't be surprised if others follow suit...

rattydrama
12-02-11, 15:41
if gov change rules to disallow local property developer to keep for rental after TOP including within the subsidary company, FEO sales price will sure drop...

anyone care to share how many unsold TOP units are they keeping right now?

I dont see that it is proper for them to do so... they are one of curprits to bring up the property price high high and quick quick and many other developers folllow suit.






"furniture voucher" as a "rebate" seems like a smart calculated move:

1. The transaction price remains the same until TOP
2. Illusion of a cheaper price (if subsale then rebate gone liao... need to sell at least 20% higher to break even - 17% SSD + 3% rebate - no factoring other cost: lawyer, buyers stamp duty lalalala.. )
3. Circumvent the MAS regulations (loan amount still LTV -3% from rebate)
4. A carrot for the consumer to buy now as they can remove it anytime, especially if the sales volume are good.

Very smart move by FEO, won't be surprised if others follow suit...

kingkong1984
12-02-11, 15:51
Not possible to regulate that!

Sister companies how?

rattydrama
12-02-11, 16:12
Not possible to regulate that!

Sister companies how?

same lor developer cannot sell to sister company for rental. can only sell to investment company not affliated to FEO and property investors like us.

or set a rule to state at any one time they cannot chop more than 10% of the completed units for rental within 24 months after TOP.

ask the director to sign letter of undertaking and if they fault that, big fine.:p

med80009
12-02-11, 16:22
they are one of curprits to bring up the property price high high and quick quick and many other developers folllow suit.

We have a free market economy what to do ? If they sell high you don't buy some China Ah Pek will come and snap up multiple units with bags of cash. Sinkies by nature kaisu, plus we need a roof over our heads lan lan have to buy high lo.

A little bit off topic but i think a nation has to define what type of growth and development they want to achieve. At this rate, i see more and more segments of society being left behind leaving a widening divide which is never good for national unity...

DC33_2008
12-02-11, 17:41
I know of some projects even give extra discount if you are of certain profession.

land118
12-02-11, 18:15
if gov change rules to disallow local property developer to keep for rental after TOP including within the subsidary company, FEO sales price will sure drop...

anyone care to share how many unsold TOP units are they keeping right now?

I dont see that it is proper for them to do so... they are one of curprits to bring up the property price high high and quick quick and many other developers folllow suit.

Fri, 11 Feb classifieds ads in ST papers, the followings FEO ads for rental:

Bukit villas along woodlands Ed
Wood grove estate at ash wood groove
Orchard scoffs
Leonie condotel
Grange 70 & 80
Cavenagh Lodge
Meadow Lodge off Bukit Timah road

FEO well known for holding units if sales are bad to be launched later or for rental

hyenergix
12-02-11, 18:20
FEO is not simple. Its holding power is extraordinary. Its backers must be quite powerful & hidden.

land118
12-02-11, 22:48
More updates, below ads in TODAY papers 12 Feb on FEO giving furniture vouchers for it's project:

Greenwich 3%: pg 5
The Tennery 3%: pg 7

FEO really aggressive, maybe they hear about more measures or want to move as many as possible now

azeoprop
12-02-11, 22:53
THey might have reduced their discount from list price and changed it to the cash back thing instead, so price remain the same haa haa. :rolleyes: But consumers think they got a good buy.:scared-3:

land118
12-02-11, 23:02
THey might have reduced their discount from list price and changed it to the cash back thing instead, so price remain the same haa haa. :rolleyes: But consumers think they got a good buy.:scared-3: wow, like tat also can :doh: :scared-3:

kingkong1984
12-02-11, 23:18
THey might have reduced their discount from list price and changed it to the cash back thing instead, so price remain the same haa haa. :rolleyes: But consumers think they got a good buy.:scared-3:
They have a duty to maintain prices for earlier buyers. If not what,s loyalty discounts?

Also developers need to hold prices for one another. Price wars are bad for bottom lines. The rebates are not as good as outright discounts,

land118
13-02-11, 08:18
13 Feb, Sunday Times, more listing of FEO ads with furniture discounts:

Chuan Villas & Henley Gardens: 2%
Silversea: 3%

ecimbew
13-02-11, 08:39
THey might have reduced their discount from list price and changed it to the cash back thing instead, so price remain the same haa haa. :rolleyes: But consumers think they got a good buy.:scared-3:

It's very common. Mark up the prices and claim it's discounted.

CCR
13-02-11, 22:10
Actually, FEO most "kiam", for them to give this type of furniture rebates means they want sales, so the Waterfront Isle project that they giving 5% would mean sales not within their expectation, if not probably 3%, like most of their existing projects.

You are Right man... I think waterfront collection is over priced man.... Just went over the weekend... They just released the latest reservoir facing units... 1017 psf....

Nothing at bedok reservoir and very close to lots of hdb flats man then drive a bit and reach the eunos industrial estate... That's why they want to clear the units there fast...

land118
13-02-11, 22:20
You are Right man... I think waterfront collection is over priced man.... Just went over the weekend... They just released the latest reservoir facing units... 1017 psf....

Nothing at bedok reservoir and very close to lots of hdb flats man then drive a bit and reach the eunos industrial estate... That's why they want to clear the units there fast...
Ya, FEO offload as many as they can, so that they can reload their $ in re$erve. But then again, FEO projects somehow able to sell, they are damn good to entice buyers. Also damn good at controlling demand and supply, launching in phases,etc

rattydrama
13-02-11, 23:25
It's very common. Mark up the prices and claim it's discounted.
its bad marketing to mark up the price. Usually base on damn high list price and provide early bird discount, special discount, royalty discount, stamp duty absorption etc.

there are many other ways not necessary to resort to out right discount.

plastic
14-02-11, 15:38
I heard Capital Land projects do not offer any rebate, discount, furniture voucher or absorbing stamp duty at all.

land118
16-02-11, 22:44
13 Feb, Sunday Times, more listing of FEO ads with furniture discounts:

Chuan Villas & Henley Gardens: 2%
Silversea: 3%

More projects update, Today ST, Meadow Lodge, FEO giving 2% furniture voucher, sale with tenancy from $1150psf...

kingkong1984
16-02-11, 23:27
More projects update, Today ST, Meadow Lodge, FEO giving 2% furniture voucher, sale with tenancy from $1150psf...

LH99... another example from FH also right?

land118
17-02-11, 21:05
LH99... another example from FH also right?
Meadow Lodge is a 99-year leasehold development. Think doesn't matter probably, probably as long as FEO project unsold believe have vouchers. If never advertise, surely if u ask, maybe they will give.

land118
17-02-11, 21:58
FEO aggressively advertising their projects even on weekday giving away furniture vouchers. In today ST:

Page a3, Horizon Residences: 3% furniture vouchers
Page A7, Centro, 3% also
Page B17, the Shore, 3% as well

hyenergix
18-02-11, 06:04
They probably know that the land sold via GLS are launching projects soon to flood the market. The economy is slowing down, even the stocks market has come down a lot.

taggy
18-02-11, 07:19
FEO aggressively advertising their projects even on weekday giving away furniture vouchers. In today ST:

Page a3, Horizon Residences: 3% furniture vouchers
Page A7, Centro, 3% also
Page B17, the Shore, 3% as well

Feo hurry to clear stocks, then why still bid so high for pungol? Any theory pls? :)

westman
18-02-11, 07:32
Feo hurry to clear stocks, then why still bid so high for pungol? Any theory pls? :)

Also wonder why. Their bidding price is even greater than the JLD white site bidding $7xxmil as well as PPR.

Something is cooking there perhaps.:confused:

Nonetheless, am concern this new aggressive bidding might invite more cooling measures to come?:2cents:

devilplate
18-02-11, 08:45
FEO aggressively advertising their projects even on weekday giving away furniture vouchers. In today ST:

Page a3, Horizon Residences: 3% furniture vouchers
Page A7, Centro, 3% also
Page B17, the Shore, 3% as well

but seriously i not sure whether they got up the prices b4 giving 3% furniture vouchers anot....anyone monitor their prices closely? to me after the 3% still looks damn ex....:rolleyes:

rattydrama
19-02-11, 06:06
Also wonder why. Their bidding price is even greater than the JLD white site bidding $7xxmil as well as PPR.

Something is cooking there perhaps.:confused:

Nonetheless, am concern this new aggressive bidding might invite more cooling measures to come?:2cents:


its decentralization, people in OCR got many bullets as spares.
FEO smell the deal and change their strategy.

rattydrama
19-02-11, 06:10
Feo hurry to clear stocks, then why still bid so high for pungol? Any theory pls? :)

probably they see that there are many units going to TOP in the next few quarters to fight in rental market so better to get ride some of the units now when the price can still hod.

good to watch their moves to get a better feel of the market.

need funds to acquire new land as well..... cash flow issue.

westman
19-02-11, 07:08
its decentralization, people in OCR got many bullets as spares.
FEO smell the deal and change their strategy.

Make sense but at 1B wor? For 6xx units with close to 7xxppr, feo sell it at 1300? Very aggressive.:scared-1:

rattydrama
19-02-11, 07:14
Make sense but at 1B wor? For 6xx units with close to 7xxppr, feo sell it at 1300? Very aggressive.:scared-1:

mixed project is the buzz word. It has all the amenities and convenience. expensive now maybe cheap later.

bargain hunter
19-02-11, 07:43
mixed development they have room to play with. they may be able to extract high yield from their mall? i m not very familiar but capitaland has traditionally been good at this.




Feo hurry to clear stocks, then why still bid so high for pungol? Any theory pls? :)

westman
19-02-11, 08:31
mixed project is the buzz word. It has all the amenities and convenience. expensive now maybe cheap later.


Good good....:cool:

Geylang OKT
19-02-11, 08:33
So is it time to cash out for those buyers who have gotten in during 2001-2003 times? :D

Geylang OKT
19-02-11, 09:27
So is it time to cash out for those buyers who have gotten in during 2001-2003 times? :D

Newly purchased house owners will say no.

Those buyers now on the prowl will say yes.

:D :D :D

rattydrama
19-02-11, 14:42
Good good....:cool:


plot near Bedok MRT was around 800psf some 6 months ago. It was 2Q last year rite?