View Full Version : New benchmark prices set at Thomson Grand
http://www.straitstimes.com/Money/Story/STIStory_688731.html
Jul 9, 2011
New benchmark prices set at Thomson Grand
BUYERS have set new benchmark prices at the preview of Thomson Grand in Upper Thomson, with apartments topping $1,600 per sq ft (psf).
All 50 units released at the 99-year leasehold project were snapped up at prices between $1,100 and $1,600 psf for the two- to four-bedroom apartments, with average values at $1,400 psf.
That priced the most expensive apartment sold at about $3.6 million.
The units sold included 11 strata terrace units, with one going for $4.1 million, the highest transacted quantum price, said Hong Kong-based developer Cheung Kong.
It is hard to compare benchmark prices as there have been no new high-rise projects in the area for more than a decade.
But Thomson Grand's pricing is significantly above the highest price of $1,273 psf achieved in 2009 for a freehold unit at Meadows@Peirce - which is about 2km away - according to caveats lodged with the Urban Redevelopment Authority (URA).
Bishan Park Condominium, an adjacent 99-year leasehold project completed in 1994, transacted at an average of just $748 psf, according to the five caveats lodged with the URA this year.
Cheung Kong said 30 per cent of the buyers were investors from Singapore, Malaysia, China, Indonesia and Taiwan while the rest were local upgraders.
A further 20 units will be released this weekend on a first-come-first-served basis, it added.
The project has 339 apartments and 22 strata-titled terrace units. Apartment sizes range from 904 sq ft for two-bedders to 2,314 sq ft for four-bedroom units in nine blocks of 20-storey residential towers. The landed terraces are up to 6,566 sq ft.
Almost 70 per cent of the 361 units are three-bedders or larger.
Cheung Kong has spared no expense in its marketing, with the 15,000 sq ft sales office built at a cost of more than $8 million, which includes the use of more than 100,000 Swarovski crystals.
Separately, City Developments' Buckley Classique has moved 27 apartments since its launch in mid-June. The 64-unit freehold project in District 11 was priced at an average of $2,000 psf.
Its executive condo (EC) project, the 602-unit Blossom Residences at Segar Road in Bukit Panjang, has found buyers for more than 150 units since it opened for bookings on Thursday. Prices average $685 psf, valuing a two-bedroom unit from $548,000 and a four-bedder from $841,000.
The Chestervale EC in Bukit Panjang, the first such project in the area, was launched in 1997.
ESTHER TEO
So what's all the talk about housing market undergoing price correction? :confused: KBW reading or not?
The amount of liquidity in the system is still being flushed out and that will take a good number of years. Those waiting on the sidelines presently are holding that liquidity and each time there is a correction, these folks will jump in to buy. This provides the support.
Short of an economic crisis (of equivalent or larger magnitude) as we experienced in 2008, the huge liquidity flowing in the system will continue to present its ugly (or pretty to some) head in the form of physical asset price increases.
Inflation erodes the value of cash holdings and the folks sitting on the sidelines know that. That is also one of the key reasons why the sidelines jump into the active market each time there is a correction (tired of waiting).
So what's all the talk about housing market undergoing price correction? :confused: KBW reading or not?
Excuse me but was there any correction since the recovery in 2009?
Excuse me but was there any correction since the recovery in 2009?
There are a few pauses in the weeks after the cooling measures were announced.
Bubble getting bigger:scared-4:
There are a few pauses in the weeks after the cooling measures were announced.But where are the pauses now??? Initially people were trying to get used to the new SSD and LTV but after 2 or 3 months (April), most are ok and have adjusted their investment returns expectation and readily returned to the market. Only one group has been eliminated which belong to the money tight buyers who do not have enough for 60% LTV. The others are flocking back!!!
When my parents bought their first four-room HDB flat (103sm), it cost them $22k. Today, a four-room HDB flat (90sm) will cost more than $300k in a similar area. How much of this increase can be attributed to inflation? Would you consider this a bubble?
Fiat currencies continue to devalue today, this is the nature of this instrument. Asset price increases happen because of a multitude of reasons, never just one. As an investor, it is necessary to understand what contributes to the increases that we are seeing this round instead of just sweeping it away as a pure bubble.
As long as Singapore's economy continues to be robust and continues to grow, there will be money flowing in from other regions of the world to invest in businesses, properties and stocks in Singapore. Every investor loves a growth story. No one would invest in a country or business that he feels does not have potential to grow.
It is easy to just label the current increases as a bubble and then wait it out. Without any form of hedging, this will be a risky approach for the individual investor.
Timing the market has always proven to be costly. It is risky to be totally in or totally out of the market at any point in time.
For Singaporeans like us, it is a Catch-22. The only way for Singapore properties to lose their value would be for our economy to head into the doldrums. Yet, if that happens, many of us will be caught because the majority of our assets is in Singapore. At the same time, if Singapore continues its economic growth, property prices will continue to escalate, pricing those of us who are not vested out of the market.
Bubble getting bigger:scared-4:
As a simple rule of thumb. Own stay is generally ok.
During bullish years, investors can still enter if they have holding power coz prices will surely climb, 5 years, 10 years, whatever. Now with 4 yr SSD, its at least 3 years before its economically viable to sell so its still ok to buy during high prices. :)
During bearish years, investors can enter but must be careful of overcommitment. :D
I perceived all the CMs to be unbalanced, and shifting potential buyers to new launch private properties vs resale. As private property owners holding private properties for investment, I see all those CMs as being unfair. :scared-1:
I believe S$ is over valued and not worth holding now. The only thing worth investing in Singapore now is CCR prime properties but with all the unfair CMs and loop holes and problems with private properties biased regulations (my perception), all these discouraged me from investing in more properties in Singapore (by the way, I never believe in paying 20 to 50% premium for new launch as I buy to invest and earn rental, not to flip). I am in the midst of shifting more of my assets into foreign investments (in foreign currencies).
It is a good time to get out of S$ since it is terribly over-valued now. SGX listed equities are now quite dead, not much upside as well. :banghead:
I am expecting at least 40% return for shifting my assets to foreign currencies and assets in next 2 years. :cheers1:
When my parents bought their first four-room HDB flat (103sm), it cost them $22k. Today, a four-room HDB flat (90sm) will cost more than $300k in a similar area. How much of this increase can be attributed to inflation? Would you consider this a bubble?
Fiat currencies continue to devalue today, this is the nature of this instrument. Asset price increases happen because of a multitude of reasons, never just one. As an investor, it is necessary to understand what contributes to the increases that we are seeing this round instead of just sweeping it away as a pure bubble.
As long as Singapore's economy continues to be robust and continues to grow, there will be money flowing in from other regions of the world to invest in businesses, properties and stocks in Singapore. Every investor loves a growth story. No one would invest in a country or business that he feels does not have potential to grow.
It is easy to just label the current increases as a bubble and then wait it out. Without any form of hedging, this will be a risky approach for the individual investor.
Timing the market has always proven to be costly. It is risky to be totally in or totally out of the market at any point in time.
For Singaporeans like us, it is a Catch-22. The only way for Singapore properties to lose their value would be for our economy to head into the doldrums. Yet, if that happens, many of us will be caught because the majority of our assets is in Singapore. At the same time, if Singapore continues its economic growth, property prices will continue to escalate, pricing those of us who are not vested out of the market.
devilplate
11-07-11, 08:39
I perceived all the CMs to be unbalanced, and shifting potential buyers to new launch private properties vs resale. As private property owners holding private properties for investment, I see all those CMs as being unfair. :scared-1:
I believe S$ is over valued and not worth holding now. The only thing worth investing in Singapore now is CCR prime properties but with all the unfair CMs and loop holes and problems with private properties biased regulations (my perception), all these discouraged me from investing in more properties in Singapore (by the way, I never believe in paying 20 to 50% premium for new launch as I buy to invest and earn rental, not to flip). I am in the midst of shifting more of my assets into foreign investments (in foreign currencies).
It is a good time to get out of S$ since it is terribly over-valued now. SGX listed equities are now quite dead, not much upside as well. :banghead:
I am expecting at least 40% return for shifting my assets to foreign currencies and assets in next 2 years. :cheers1:
hk got similar cm and their ccr still doing well.
So dun give up teddy, u said last time cm4 will impact negatively on ocr n mm the most....mabe wait longer things will changed to ur favor
proud owner
11-07-11, 08:59
But where are the pauses now??? Initially people were trying to get used to the new SSD and LTV but after 2 or 3 months (April), most are ok and have adjusted their investment returns expectation and readily returned to the market. Only one group has been eliminated which belong to the money tight buyers who do not have enough for 60% LTV. The others are flocking back!!!
singaporeans are the most adaptable breed in the world ..
regardless how much they dislike whats imposed upon them ...they complained ...give it a couple of months .. its all good
life goes on ...
If a property is for own stay i.e. genuine need for the space, location, etc, my personal feel is that the purchase can be done at almost any time when affordability is not the question. The definition of affordability varies from individual to individual; for some it may be viewed in terms of monthly housing loan installment, for others, they need to have a liquid amount of cash to pay at least one year of installments. Ultimately, it is spending time and effort to truly understand one's own needs and ability to pay for the abode.
If a property is for investment, my personal feel is that one should look at the potential for capital appreciation while using rental as support. There is also a need to take into account other factors such as rotational play in the market (e.g. by district, by type), interest rates (impact of low versus high), etc. Bearish times present windows of opportunities for cheap sales but often the good properties held by owners with holding power will not be available during those times.
The bottomline is, in bearish or bullish times, there are always opportunities for good buys. The key is in keeping one's eyes and mind open (without any form of prejudice or bias - easy to say but hard to do), and understand the reasons for the behavior of the market at any point in time.
As a simple rule of thumb. Own stay is generally ok.
During bullish years, investors can still enter if they have holding power coz prices will surely climb, 5 years, 10 years, whatever. Now with 4 yr SSD, its at least 3 years before its economically viable to sell so its still ok to buy during high prices. :)
During bearish years, investors can enter but must be careful of overcommitment. :D
devilplate
11-07-11, 09:12
singaporeans are the most adaptable breed in the world ..
regardless how much they dislike whats imposed upon them ...they complained ...give it a couple of months .. its all good
life goes on ...
Bopian...too competitive liao....Small fishes swim wif big fishes inorder to survive
Hk been adapting vy well too! China impose super severe measures too!
Any playing field will have its own sets of regulations. As players, we have little choice but to abide by these regulations and make the best out of them. When push comes to shove, natural selection takes place and those that cannot adapt to the environment will be filtered out.
The CMs that we are seeing know are knee-jerk reactions and we all know how ineffective knee-jerk policies are in addressing the root causes of a situation. As the chinese would often say, treating the symptoms does not treat the cause of the illness.
As to whether the SGD is over-valued, I believe there is still upside. In the long run, Singapore is being (re)designed to cater to the affluent. One key aspect of this is the branding. There is still much to be done and what we have seen so far in terms of the government's marketing efforts are just the tip of the ice-berg.
The world today thrives on illusion and facades (sadly). As a small country that has plenty of money to create the biggest and most nicely painted facade, I believe there is still further upside for Singapore in the medium and long term.
I perceived all the CMs to be unbalanced, and shifting potential buyers to new launch private properties vs resale. As private property owners holding private properties for investment, I see all those CMs as being unfair. :scared-1:
I believe S$ is over valued and not worth holding now. The only thing worth investing in Singapore now is CCR prime properties but with all the unfair CMs and loop holes and problems with private properties biased regulations (my perception), all these discouraged me from investing in more properties in Singapore (by the way, I never believe in paying 20 to 50% premium for new launch as I buy to invest and earn rental, not to flip). I am in the midst of shifting more of my assets into foreign investments (in foreign currencies).
It is a good time to get out of S$ since it is terribly over-valued now. SGX listed equities are now quite dead, not much upside as well. :banghead:
I am expecting at least 40% return for shifting my assets to foreign currencies and assets in next 2 years. :cheers1:
I think that is true in the 70s, 80s, 90s and even early part of 2000s. However, as the older generation is fading away and the new ones inculcated in a moral value system largely fielded by Facebook, Twitter and Foursquare, the new breed of Singaporeans is quite different from the older folks.
The new Singaporeans are not wiser but they are definitely less fearful, especially when social media presents a pseudo-mask of anonymity. Another key difference is what the social media platforms allows this new breed of Singaporeans - organise (somewhat haphazardly for now) online activities that carry an anti-incumbent campaign further than ever possible before.
They have the technical know-how, they have the angst, and they definitely have more "balls" than the older generation. If the leaders today are able to harness this latent energy in the new generation, Singapore may very well have another burst of energy needed for growth in the next decade.
singaporeans are the most adaptable breed in the world ..
regardless how much they dislike whats imposed upon them ...they complained ...give it a couple of months .. its all good
life goes on ...
I think that is true in the 70s, 80s, 90s and even early part of 2000s. However, as the older generation is fading away and the new ones inculcated in a moral value system largely fielded by Facebook, Twitter and Foursquare, the new breed of Singaporeans is quite different from the older folks.
The new Singaporeans are not wiser but they are definitely less fearful, especially when social media presents a pseudo-mask of anonymity. Another key difference is what the social media platforms allows this new breed of Singaporeans - organise (somewhat haphazardly for now) online activities that carry an anti-incumbent campaign further than ever possible before.
They have the technical know-how, they have the angst, and they definitely have more "balls" than the older generation. If the leaders today are able to harness this latent energy in the new generation, Singapore may very well have another burst of energy needed for growth in the next decade.
well said...http://forums.condosingapore.com/images/icons/icon14.gif
bricksnmortar
11-07-11, 10:14
Wow, I like what you said. Indeed i am optimistic of my fellow singaporeans making a positive difference. And i think that Singapore is in the right zone of opportunity for the next 20 years. No other place i'd rather be in. And the Singapore brand is being carefully crafted and built up all over the world with so many foreigners wanting to come here and conversely so many young singaporeans studying and living/working elsewhere.
I think that is true in the 70s, 80s, 90s and even early part of 2000s. However, as the older generation is fading away and the new ones inculcated in a moral value system largely fielded by Facebook, Twitter and Foursquare, the new breed of Singaporeans is quite different from the older folks.
The new Singaporeans are not wiser but they are definitely less fearful, especially when social media presents a pseudo-mask of anonymity. Another key difference is what the social media platforms allows this new breed of Singaporeans - organise (somewhat haphazardly for now) online activities that carry an anti-incumbent campaign further than ever possible before.
They have the technical know-how, they have the angst, and they definitely have more "balls" than the older generation. If the leaders today are able to harness this latent energy in the new generation, Singapore may very well have another burst of energy needed for growth in the next decade.
singaporeans are the most adaptable breed in the world ..
regardless how much they dislike whats imposed upon them ...they complained ...give it a couple of months .. its all good
life goes on ...Agreed. When the bus and taxi price hike blar blar blar, gave it couple of months and everything is back to normal... :D. Now Starhub just increased price but no real resistance. The Singapore Power keep on increasing but to less and less resistance. Welcome to Singapore.
devilplate
11-07-11, 10:44
Agreed. When the bus and taxi price hike blar blar blar, gave it couple of months and everything is back to normal... :D. Now Starhub just increased price but no real resistance. The Singapore Power keep on increasing but to less and less resistance. Welcome to Singapore.
or u r actually hoping for a deflation?
富不过三代。
I'm optimistic about Singapore's future...... but not in hands of our future spolit generation but in the hands of the foreign talent to drive SG into a metropolitan city.
Alot of children these days are smart and savvy, but very tough to bloom if they don't move out from their parents' cradle.
Success is oftenly found when you are pushed to the edge..... Look at the FT, they come here with nothing, which means they have no choice but to succeed....
The young Singaporean? Aiyah, cannot make it then go back to parents for help lor....
Remember 50 years ago, who were the ones driving the economies in Singapore, Malaysia, Indonesia? Ans: Immigrants...
In today's context, we are the locals looking at the immigrants coming to survive and succeed eventually.
I hope our young Singaporeans can rise up to the challenges while maintaining social and family ties integrity.
devilplate
11-07-11, 10:53
I hope our young Singaporeans can rise up to the challenges while maintaining social and family ties integrity.
fat hope
with advanced media, their complaints r louder and more balls bcoz shout behind computer mah
or u r actually hoping for a deflation?Was't hoping for any deflation. Just supporting what proud owner wrote and agreeing... :spliff:
fat hope
with advanced media, their complaints r louder and more balls bcoz shout behind computer mah
Fat hope x 2. I actually heard gen Y's saying " since we are so rich why can't we give this and that , health care, etc". Notice the underlying tune ? "since we are rich...". A whole generation assumes everything is prosperous and will stay as it is.
Fat hope x 2. I actually heard gen Y's saying " since we are so rich why can't we give this and that , health care, etc". Notice the underlying tune ? "since we are rich...". A whole generation assumes everything is prosperous and will stay as it is.Reality bites... :D wait till they lose the support of their parents or they start making a living in the highly competitive society... :spliff2:
Reality bites... :D wait till they lose the support of their parents or they start making a living in the highly competitive society... :spliff2:
"Then I migrate lor " - g l a d y s
There is also a need to take into account other factors such as rotational play in the market (e.g. by district, by type), interest rates (impact of low versus high), etc. Bearish times present windows of opportunities for cheap sales but often the good properties held by owners with holding power will not be available during those times.
How to have rotational play for property.... property is highly illiquid.... the transaction cost alone would have negated any gains.....
How did this thread become thread for gin na bashing:confused:
I think that is true in the 70s, 80s, 90s and even early part of 2000s. However, as the older generation is fading away and the new ones inculcated in a moral value system largely fielded by Facebook, Twitter and Foursquare, the new breed of Singaporeans is quite different from the older folks.
The new Singaporeans are not wiser but they are definitely less fearful, especially when social media presents a pseudo-mask of anonymity. Another key difference is what the social media platforms allows this new breed of Singaporeans - organise (somewhat haphazardly for now) online activities that carry an anti-incumbent campaign further than ever possible before.
They have the technical know-how, they have the angst, and they definitely have more "balls" than the older generation. If the leaders today are able to harness this latent energy in the new generation, Singapore may very well have another burst of energy needed for growth in the next decade.
Hey.... aren't all of us here (I'm guessing not Gen Y) using social media here!:)
Fat hope x 2. I actually heard gen Y's saying " since we are so rich why can't we give this and that , health care, etc". Notice the underlying tune ? "since we are rich...". A whole generation assumes everything is prosperous and will stay as it is.
gen y kids haven't tried buying their first house and car yet, then they'll realise the few zeros in their bank account can vaporise so easily.
"The Lost decades" Singapore edition coming soon?
http://en.wikipedia.org/wiki/Lost_Decade_(Japan)
:scared-1:
"Then I migrate lor " - g l a d y s
That SPH Gladys deserves to be bashed the most. Bad role model in 1980s was those 边缘少年，now is no money and want to be spoon fed until become rich 的少年。
"The Lost decades" Singapore edition coming soon?
http://en.wikipedia.org/wiki/Lost_Decade_(Japan)
:scared-1:
depends on how we manage our population growth/decline. it might come later than we think.
Thomson grand thread becomes Gen Y discussion? Lol
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