View Full Version : Khaw goes for personal touch for grip on market
http://www.businesstimes.com.sg/sub/news/story/0,4574,445197,00.html?
Published June 29, 2011
Khaw goes for personal touch for grip on market
By UMA SHANKARI
(SINGAPORE) National Development Minister Khaw Boon Wan has been meeting developers and other stakeholders - sometimes even one-on-one - to get their take on the property market since he took over the housing portfolio in late May, sources say.
With the meetings, Mr Khaw is working to cover as much ground as possible in his quest to understand the various aspects of the real estate industry in Singapore before he formulates any new policies, the sources said.
BT understands that Mr Khaw has had in-depth, one-on-one meetings with key developers such as Far East Organization, City Developments, SC Global Developments and Wing Tai Holdings.
He will speak to more developers and will also meet industry bodies such as the Real Estate Developers' Association of Singapore (Redas).
In addition to meeting developers, Mr Khaw has also met the heads of some property agencies - including ERA Realty and Prop- Nex, who together handle more than half of all HDB resale transactions - as well as analysts and academics in a bid to get a good feel of the property market.
Sources said that Mr Khaw discussed the upcoming supply of HDB and private homes, the impact of the last round of government measures to cool the market (introduced in January) as well as other issues that impact Singapore's property market.
'It is Mr Khaw's style to consult widely and frequently,' said a spokesman from the Ministry of National Development (MND) in response to a query from BT.
'The meetings with the developers, contractors, architects, academics and property analysts are to help familiarise himself with the issues, and gain further insights into the property market. He intends this to be a continuous process of engagement.'
A source who was present at one of the meetings said that Mr Khaw acknowledged that he is not an expert in this field.
'He also assured that he is not a person who will change things just for the sake of changing things,' the source said.
Those present at the meetings were mostly impressed that Mr Khaw took the time to solicit their views.
'I have been in the business for umpteen years and this is the first time I've been asked for my views by the minister,' said an industry veteran who was asked to one of the meetings.
Mr Khaw took over the housing portfolio last month, and immediately started a blog where he promised to consult widely with experts, customers, industry players and Singaporeans. He has also used his blog to sound an alert that a huge pool of 53,000 new homes will be looking for buyers over the next few years. He also urged potential buyers to treat smaller- sized (or shoe-box) units with caution.
He also said in one post that privately built design, build and sell scheme (DBSS) flats should not be compared with ordinary HDB flats, in a response to public anger about flats with a price tag of up to $880,000 at a recent DBSS launch.
Said Citibank in a report this week: 'We believe his (Mr Khaw's) constant updates via the blog will help to alleviate some fear among potential buyers to prevent panic buying.' The report had a section titled The New Minister and His Blog.
http://www.businesstimes.com.sg/sub/news/story/0,4574,445197,00.html?
Published June 29, 2011
Khaw goes for personal touch for grip on market
By UMA SHANKARI
(SINGAPORE) National Development Minister Khaw Boon Wan has been meeting developers and other stakeholders - sometimes even one-on-one - to get their take on the property market since he took over the housing portfolio in late May, sources say.
With the meetings, Mr Khaw is working to cover as much ground as possible in his quest to understand the various aspects of the real estate industry in Singapore before he formulates any new policies, the sources said.
BT understands that Mr Khaw has had in-depth, one-on-one meetings with key developers such as Far East Organization, City Developments, SC Global Developments and Wing Tai Holdings.
He will speak to more developers and will also meet industry bodies such as the Real Estate Developers' Association of Singapore (Redas).
In addition to meeting developers, Mr Khaw has also met the heads of some property agencies - including ERA Realty and Prop- Nex, who together handle more than half of all HDB resale transactions - as well as analysts and academics in a bid to get a good feel of the property market.
Sources said that Mr Khaw discussed the upcoming supply of HDB and private homes, the impact of the last round of government measures to cool the market (introduced in January) as well as other issues that impact Singapore's property market.
'It is Mr Khaw's style to consult widely and frequently,' said a spokesman from the Ministry of National Development (MND) in response to a query from BT.
'The meetings with the developers, contractors, architects, academics and property analysts are to help familiarise himself with the issues, and gain further insights into the property market. He intends this to be a continuous process of engagement.'
A source who was present at one of the meetings said that Mr Khaw acknowledged that he is not an expert in this field.
'He also assured that he is not a person who will change things just for the sake of changing things,' the source said.
Those present at the meetings were mostly impressed that Mr Khaw took the time to solicit their views.
'I have been in the business for umpteen years and this is the first time I've been asked for my views by the minister,' said an industry veteran who was asked to one of the meetings.
Mr Khaw took over the housing portfolio last month, and immediately started a blog where he promised to consult widely with experts, customers, industry players and Singaporeans. He has also used his blog to sound an alert that a huge pool of 53,000 new homes will be looking for buyers over the next few years. He also urged potential buyers to treat smaller- sized (or shoe-box) units with caution.
He also said in one post that privately built design, build and sell scheme (DBSS) flats should not be compared with ordinary HDB flats, in a response to public anger about flats with a price tag of up to $880,000 at a recent DBSS launch.
Said Citibank in a report this week: 'We believe his (Mr Khaw's) constant updates via the blog will help to alleviate some fear among potential buyers to prevent panic buying.' The report had a section titled The New Minister and His Blog.
This is what i call working the ground...... 亲民政策。
He asked developers and housing agents. How come don't ask home owners as well as potential buyers and sellers? Don't say he only read from forum and blogs by the buyers/sellers because such platforms usually only have negative complaints, seldom an unbiased response! So he should go the the HDB and private estate to have that full picture! :p Just my opinion. pm some of us in this forum for a group meet up or something. I'm sure there's brains in this forum that can provide insights beyond what developers and agents can offer! :p
He asked developers and housing agents. How come don't ask home owners as well as potential buyers and sellers? Don't say he only read from forum and blogs by the buyers/sellers because such platforms usually only have negative complaints, seldom an unbiased response! So he should go the the HDB and private estate to have that full picture! :p Just my opinion. pm some of us in this forum for a group meet up or something. I'm sure there's brains in this forum that can provide insights beyond what developers and agents can offer! :p
I think he using soft approach.....
My guess:
KBW: "Guys, tell me what you think?"
Developer: "Boss, SG changing lah, about time we show how Real Estate is done the right way to HK, Tokyo."
Housing Agent: "Boss, our 9-5pm jobs taken away by FT and S-passes. Buy Sell house is good money be it full-time or part-time."
KBW: "Oic....."
KBW: "You know I'm going to build alot of HDB and ECs right?"
Developer, Housing Agent: " Boss, make hay while the sun is shining. When you HDB come to the market, then we go for our holidays and live off our earnings lor."
KBW: "Then how are we going to help our fellow Singaporeans if prices go too high and made worst with a crash?"
Developer, Housing Agent: "Errrmm, something needs to be done to Gen Y mindset as they are ones forcing MND to build HDB like crazy, yet choosy.... if you can recall, the glut is usually in the low floors, poor facing HDB BTO units that get rejected. Barriers of entry to apply is too low and thus people just apply for sake of applying, just like TOTO, 4D and hope to get lucky to get a Pinnacle Duxton. Btw, MOE should encourage more national policies lesson, use soft approach not just on pri, sec schools, but also tertiary institutions to make them understand the implications for wanting the best and wanting them cheap."
KBW: " Oic...."
Developer, Housing Agent: "Perhaps, you can consider different barriers of entry for different localities, i.e. price for different floors and additional incentives for low floors so that people won't be choosy and additonal top-ups for premium high floor units.
But importantly is give more housing incentives for those couple that already have a child. This will encourage young couples to have children while living with their parents or in-laws before moving out to their new HDB BTO flat. Singaporeans will also understand that national policy of having children does really have incentives.... baby bonus work but if you tie it to housing, this will be powerful thus making singles to reconsider remaining single too.
Those money grubbing Gen Y who want freedom, independence and MONEY will also consider settling down. This will encourage and tighten family ties. This new policy will also shut the singles who keep chanting, "BTO for singles, BTO for singles, which will encourage lower birthrates and too much unheathly ONS lifestyle. A little ONS is good but not too much, which will probably be the case if singles get their way."
KBW: "Guys, thanks! "
Developer, Housing Agent: "No problem, if it's ok.... we will like to go off now to make our money before your HDB BTO hits the market. Thanks! *ZOOM OFF*"
Nice story! But I really don't think the developers/housing agents will ever be bothered by the low birth rates, etc. They are, as you rightly pointed out, more concerned about the BTO launches so they want to make more :2cents::2cents: before these huge numbers hit the market. But they are already hitting the market, aren't they? :cheers6:
'key developers' did he forget to invite Simi Lian for kopi? Responded with a BIG pricelist. :D :D
'key developers' did he forget to invite Simi Lian for kopi? Responded with a BIG pricelist. :D :DMaybe he invited but Sim Lian said not free... too busy with the Tampines DBSS launch and sorting out the ballots, etc... :p
'key developers' did he forget to invite Simi Lian for kopi? Responded with a BIG pricelist. :D :D
Meeting with Sim Lian:
KBW: "What is this!?"
Sim Lian: " "What?"
KBW: "THIS!"
Sim Lian: "Oh.... this....." *eyes roll*
KBW: "YES, THIS!"
Sim Lian: *shrugged shoulders* smile, "We reiterate our stand that the pricelist released was ONLY INDICATE."
KBW: "AND!!!!???"
Sim Lian: *continues to smile* "Boss, if it's ok, we will like to go back selling the DBSS units. You mentioned insufficient supply right? Let's go back to doing that."
KBW: "Arrgghhh...... YOU!!!!" *go back to hospital and do another bypass surgery at subsidized rate.*
Other developers will invite Sim Lian to their cocktail party in celebration of the new highs in the housing market prices and to extend their thanks to Sim Lian in recognition of SL's contribution in the housing sector! :cheers1:
Meeting with SPH:
KBW: "Guys, you know what to do.... I WANT THE FEAR FACTOR in the press."
SPH: "Ok boss, we got you. It will be done but you understand that we need to still earn money from the full-page adverts from FEO, Capitaland, CDL and etc.... right?"
KBW: "Yes, yes, but just get my work done!"
SPH: "Okie...."
KBW: "Btw, fire that Glad... dys Chong or Chung, who wrote that irritating article in the Sunday Times. We need to send a clear msg to the Gen Y and public that MND is trying to help Singaporeans have a home and NOT MAKE OBSCENE MONEY!"
SPH: "Actually, we kind of agree with you but we can't do it too obviously you know. Rest assure, we will find some excuse for her to step down, oh.... i mean RESIGN. I forgot she's just an employee and not a politician like Tin Pei Ling. Oops Opps.... "
KBW: "Whatever, just get it done. REMEMBER, FEAR FACTOR!"
SPH: "Boss, err.... you have a blog remember?"
KBW: "Oh yes, my blog! Must be friendly. With the people, with the people." *continues typing in a frenzy manner infront of his notebook.*
This news means there will not be any reduction in price for the pte properties because developers are important stakeholders.
Nice story! But I really don't think the developers/housing agents will ever be bothered by the low birth rates, etc. They are, as you rightly pointed out, more concerned about the BTO launches so they want to make more :2cents::2cents: before these huge numbers hit the market. But they are already hitting the market, aren't they? :cheers6:
Thanks. Agree with you on the low birth rates... just feel that the ministries are not working close enough to address low birth rates.
I think combining housing with pro-babies policy will work.
It will also send clear signals to the singles that they should settle down too.
There are two group of singles, the successful ones which Singapore wants to keep and i'm sure they can look after themselves by buying a private house of their own.
It's the singles who want a HDB yet may not have enough savings and social support to tide through their old age. So it makes sense for these singles to marry and have a partner to go through old age together while sustaining the HDB flat hand-in-hand.
Thanks. Agree with you on the low birth rates... just feel that the ministries are not working close enough to address low birth rates.
I think combining housing with pro-babies policy will work.
It will also send clear signals to the singles that they should settle down too.
There are two group of singles, the successful ones which Singapore wants to keep and i'm sure they can look after themselves by buying a private house of their own.
It's the singles who want a HDB yet may not have enough savings and social support to tide through their old age. So it makes sense for these singles to marry and have a partner to go through old age together while sustaining the HDB flat hand-in-hand.Sometimes its not as easy as you think. I've heard of many singles who don't want to get married in exchange of the freedom they have now with no consideration for old age. There are also those who lamented that the 'guys' are not opening up (heard from radio talk show):scared-3:. All sorts of reasons!
But yes ministries should really work together and communicate more often. Otherwise it'll be like that story when LHL said the FT influx caught them by surprise thus housing deficiencies plus public transportation too crowded. MOM didn't talk to MND and MOT. :D
devilplate
30-06-11, 11:04
the MORE we shdnt up income ceiling for BTOs if we want to see an improvement on our pathetic birth rate
when couples married late, chances r vy slim for them to hf kids bcoz they worry goto extend their retirement age
if u bear a Son, u goto slog for next 24-25yrs at least...NS, Uni....
linchong84
30-06-11, 11:08
Sometimes its not as easy as you think. I've heard of many singles who don't want to get married in exchange of the freedom they have now with no consideration for old age. There are also those who lamented that the 'guys' are not opening up (heard from radio talk show):scared-3:. All sorts of reasons!
But yes ministries should really work together and communicate more often. Otherwise it'll be like that story when LHL said the FT influx caught them by surprise thus housing deficiencies plus public transportation too crowded. MOM didn't talk to MND and MOT. :D
The FT policy sabo birth rate one.. The ang mo skin came to hook our SG charbo and they don't want kids, just want flings.. but i never see our SG guys hook any ang mo women leh..
devilplate
30-06-11, 11:23
The FT policy sabo birth rate one.. The ang mo skin came to hook our SG charbo and they don't want kids, just want flings.. but i never see our SG guys hook any ang mo women leh..
abit out of point la:p
i am seeing more angmor wif viet, filip, indo etc(cheap n easy to maintain mah during their short stint in SG)
have two or more if you can afford it.
Have two or more wives :D.
Talking to developers! Too funny.:) It's like a minister talking to MBS or RWS about gambling problems.:doh:
Talking to developers! Too funny.:) It's like a minister talking to MBS or RWS about gambling problems.:doh:Funny or not its probably the fastest and easiest way to get information for the minister. On top of that, it can show that ministers are working really hard on the ground... brownie points when it comes to appraisal! :p Even MP go sit at bus stops and minister go take train. Must show face to public that they are working really hard hard! :o
He is sending e wrong message to e pp, at a time when developers r making big profits.
devilplate
30-06-11, 12:53
anyway, he is toking to pte developers....not so much concern to the general public....
HDB BTOs/resale is the root cause of housing woes
i nvr hear any complains abt high condo price during GE....hehe.....who got the cheek to complain high condo px in the first place? might as well complain y cars so ex and y govt impose 210% tax on cars? hahaha
HDB got no developers to talk to other than DBSS so he talk to private developers lor. Its still one of his KPI mah! He talk to them to find out facts and figures which will be so so so biased. Should talk to more people lah! :scared-4:
abit out of point la:p
i am seeing more angmor wif viet, filip, indo etc(cheap n easy to maintain mah during their short stint in SG)
Hahahaha, Ang Moh also realise SG women demanding! :D
blackjack21trader
05-07-11, 06:18
The FT policy sabo birth rate one.. The ang mo skin came to hook our SG charbo and they don't want kids, just want flings.. but i never see our SG guys hook any ang mo women leh..
actually, for the recent years, more and more angmo charbo are marrying sg men.
As of the reasons why many angmo charbo goes after sg men but sg men does not dare to marry is because the ango charbo very independent and not very feminine lor.
but from my many conversation with them, they like sg men a lot la. that is why angmo men sometimes very jealous in the pubs lor.
kekekekeke
blackjack21trader
05-07-11, 06:20
actually, for the recent years, more and more angmo charbo are marrying sg men.
As of the reasons why many angmo charbo goes after sg men but sg men does not dare to marry is because the ango charbo very independent and not very feminine lor.
but from my many conversation with them, they like sg men a lot la. that is why angmo men sometimes very jealous in the pubs lor.
kekekekeke
to add, very strange they find sg men very handsome. but they think we very arrogant because we seldom greet or never return smiles to them. I explain to them that that is because we too shy to make eye contact la..that is why even if they hi infront of us, we will not notice lor.
kekekekekek
blackjack21trader
05-07-11, 06:26
I got one angmo charbo friend very persistent on an ugly sg colleague lor. She was complaining why this colleague never get the message she hinted . I told her that is the fault of SG WOMEN la :
the reason why he never notice is because he never make eyes contact with her. he was trained by SG women in a major conspirarcy not to do that because he will be labeled as "colored wolf" or get angry glare in return hor.
She asked me what is "colored wolf" . I just sigh la...
kekekekek
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