View Full Version : CCR vs RCR vs OCR
Q211 update
http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1142397/1/.html
*Private home prices in Singapore rose at a slower pace of 2 per cent in the second quarter,
Non-landed
prime city area, or core central region, up 1.6 per cent.
city fringe areas, or rest of central region, up 1.1 per cent
Suburban areas, or outside central region, up 1.7 per cent.
There was a total of 71,111 uncompleted private homes at the end of the second quarter.
Q211 update
http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1142397/1/.html
*Private home prices in Singapore rose at a slower pace of 2 per cent in the second quarter,
Non-landed
prime city area, or core central region, up 1.6 per cent.
city fringe areas, or rest of central region, up 1.1 per cent
Suburban areas, or outside central region, up 1.7 per cent.
There was a total of 71,111 uncompleted private homes at the end of the second quarter.
it will be more informative if we know how many of these 71,111 units are studio, 2 bedder, 3 bedder and 4 bedder units
it will be more informative if we know how many of these 71,111 units are studio, 2 bedder, 3 bedder and 4 bedder units
taken from BT
out of the 71,111 units, 33,899 units remained unsold as at Q2 2011. The unsold units comprised 10,309 units in CCR, 7,610 units in RCR and 15,980 units in OCR
Q211 update
http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1142397/1/.html
*Private home prices in Singapore rose at a slower pace of 2 per cent in the second quarter,
Non-landed
prime city area, or core central region, up 1.6 per cent.
city fringe areas, or rest of central region, up 1.1 per cent
Suburban areas, or outside central region, up 1.7 per cent.
There was a total of 71,111 uncompleted private homes at the end of the second quarter.
I am thinking, the %age rise in suburban areas is higher than the rest, is it due to the lower $psf + smaller floor area which make it more affordable.
I think this is the group of people who wish to stay in the pte ppty but have budget constraint and this group of people contributes the most.
CCR in my opinion is meant for quite well-off group of people because of its higher $psf + big floor area.
RCR is squeezed in between CCR and OCR, which $psf price is higher than OCR but lower than CCR. RCR is for another group of people where they might also have slight budget constraint but due to its location, they might be willing to foot out slightly more to stay in RCR than OCR. :D
devilplate
23-07-11, 15:15
I am thinking, the %age rise in suburban areas is higher than the rest, is it due to the lower $psf + smaller floor area which make it more affordable.
I think this is the group of people who wish to stay in the pte ppty but have budget constraint and this group of people contributes the most.
CCR in my opinion is meant for quite well-off group of people because of its higher $psf + big floor area.
RCR is squeezed in between CCR and OCR, which $psf price is higher than OCR but lower than CCR. RCR is for another group of people where they might also have slight budget constraint but due to its location, they might be willing to foot out slightly more to stay in RCR than OCR. :D
As an investor myself, i m holding more rcr now....reason bcoz higher rental yield den ccr n watever r goes up, rcr surely tag along:D
Wild Falcon
23-07-11, 16:11
You are so wrong. The average size of the units sold by developers is the largest in OCR. CCR (esp CBD) and RCR (Balestier, Geylang, East Coast) are the ones with smaller units. We're talking about new sales. Don't believe the analysts. The OCR launches are still targeted at families with mixture of 3/4 bedders, 2 bedders and some one bedder.
I am thinking, the %age rise in suburban areas is higher than the rest, is it due to the lower $psf + smaller floor area which make it more affordable.
I think this is the group of people who wish to stay in the pte ppty but have budget constraint and this group of people contributes the most.
CCR in my opinion is meant for quite well-off group of people because of its higher $psf + big floor area.
RCR is squeezed in between CCR and OCR, which $psf price is higher than OCR but lower than CCR. RCR is for another group of people where they might also have slight budget constraint but due to its location, they might be willing to foot out slightly more to stay in RCR than OCR. :D
You are so wrong. The average size of the units sold by developers is the largest in OCR. CCR (esp CBD) and RCR (Balestier, Geylang, East Coast) are the ones with smaller units. We're talking about new sales. Don't believe the analysts. The OCR launches are still targeted at families with mixture of 3/4 bedders, 2 bedders and some one bedder.
Yes that is correct. The recent launches in CCR are a mixture of MMs and 2BRs at most, while majority of units in OCR are generously-sized along with 15-20% for 1 bedders (which are usually snapped up first due to affordability)
The ratio of MMs to normal units is highest in CCR now
I still prefer developments near city fringe as compared to OCR for rental. It is a more prefer choice for new foreign talents.
As an investor myself, i m holding more rcr now....reason bcoz higher rental yield den ccr n watever r goes up, rcr surely tag along:D
You are so wrong. The average size of the units sold by developers is the largest in OCR. CCR (esp CBD) and RCR (Balestier, Geylang, East Coast) are the ones with smaller units. We're talking about new sales. Don't believe the analysts. The OCR launches are still targeted at families with mixture of 3/4 bedders, 2 bedders and some one bedder.
Average size of a CCR 3bd new sale is larger than OCR 3bd new sale.
U compare a MM in CCR to a 3bd in OCR ? U have to compare apple to apple.
irisng's point is valid. OCR psf running high comes with a shrinking size. overall quantum for this segment does not move much. The "price" of a unit does not move much , even though the psf is headline grabbing.
kingkong1984
23-07-11, 21:40
Average size of a CCR 3bd new sale is larger than OCR 3bd new sale.
U compare a MM in CCR to a 3bd in OCR ? U have to compare apple to apple.
irisng's point is valid. OCR psf running high comes with a shrinking size. overall quantum for this segment does not move much. The "price" of a unit does not move much , even though the psf is headline grabbing.
Just a handful units.... Majority is the realistic pricing.
Average size of a CCR 3bd new sale is larger than OCR 3bd new sale.
U compare a MM in CCR to a 3bd in OCR ? U have to compare apple to apple.
irisng's point is valid. OCR psf running high comes with a shrinking size. overall quantum for this segment does not move much. The "price" of a unit does not move much , even though the psf is headline grabbing.
I think the 60% LTV rule has pretty much changed the way developers design their project regardless if it is CCR RCR or OCR. It seems like those units that really sell right now are those between $1-1.5m for OCR, and $1.5 to $2m for CCR.
e.g. Average unit size of 330 units of D'Leedon sold so far is about 900sqft. . While the average unit size of 503 units sold at Lakefront residences is about 995sqft
I would think that majority OCR are overpriced since >$1000 psf. :p
Just a handful units.... Majority is the realistic pricing.
That is why I do not know why people are still buying MM unit to make the developer rich. This is even more apparent if you see a side by side unit of MM and normal size on the same floor and view having a difference of $250psf. They should boycott and not buy them.
I would think that majority OCR are overpriced since >$1000 psf. :p
everything in singapore is over priced, except our own ego.
I honestly think it is pretty meaningless to compare investment gain of CCR RCR ORC property. At the end of the day, all our property investment gain is not dependent on location but rather the health and diversity of overall Singapore economy.
At the moment, I think all segment of the properties are very promising, all we should hope for is that Singapore economy is developed to quickly adapt to changes
all for singapore, all for love
That is why I do not know why people are still buying MM unit to make the developer rich. This is even more apparent if you see a side by side unit of MM and normal size on the same floor and view having a difference of $250psf. They should boycott and not buy them.No choice. MM units are what these buyers can afford! :D Now got 360 sq ft MM. Think my pet will also find it unbearable! :scared-4:
MM can strive very well in large city like London, New York, Tokyo, etc. with no or limited public housing. The cost of housing/living is so high that people can only afford to rent and stay in small room. Singapore will need to be hubs of different sectors to propel the influx of foreign talents to sustain these type of housing. s to
No choice. MM units are what these buyers can afford! :D Now got 360 sq ft MM. Think my pet will also find it unbearable! :scared-4:
Q211 update
http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1142397/1/.html
*Private home prices in Singapore rose at a slower pace of 2 per cent in the second quarter,
Non-landed
prime city area, or core central region, up 1.6 per cent.
city fringe areas, or rest of central region, up 1.1 per cent
Suburban areas, or outside central region, up 1.7 per cent.
There was a total of 71,111 uncompleted private homes at the end of the second quarter.
Don't think there is any significant different between the areas...but the bigger picture is that prices is still rising, although it has slowed down. CM does't work well to control prices, IMHO...
There is quite a lot of difference even though Singapore is quite small as compared to NY, London, etc.
Don't think there is any significant different between the areas...but the bigger picture is that prices is still rising, although it has slowed down. CM does't work well to control prices, IMHO...
kingkong1984
24-07-11, 13:37
No choice. MM units are what these buyers can afford! :D Now got 360 sq ft MM. Think my pet will also find it unbearable! :scared-4:
That's why i say go for the smallest unit. Even if wrong, smaller price to pay.
No choice. MM units are what these buyers can afford! :D Now got 360 sq ft MM. Think my pet will also find it unbearable! :scared-4:
Yup, I think 360 sq ft is really too small, at least must have >450 sq ft.
Yup, I think 360 sq ft is really too small, at least must have >450 sq ft.I just saw a 344 sq ft on sale! :scared-1:
I just saw a 344 sq ft on sale! :scared-1:
These are people who dont live in house.. they just sleep at house..
I know many people like that...70% of the time they are outside...
I just saw a 344 sq ft on sale! :scared-1:
Alamat:doh:, is getting smaller and smaller. I can't imagine how the layout will be like. Maybe, next time will come up with another new design, hall cum bedroom, toilet (like Genting 1st world hotel), though I haven't been there, but I heard that there is no place for you to hang your clothing, you have to come out to change your clothing. How about kitchen, where to put? Maybe a portable cooker will do.:doh:
Alamat:doh:, is getting smaller and smaller. I can't imagine how the layout will be like. Maybe, next time will come up with another new design, hall cum bedroom, toilet (like Genting 1st world hotel), though I haven't been there, but I heard that there is no place for you to hang your clothing, you have to come out to change your clothing. How about kitchen, where to put? Maybe a portable cooker will do.:doh:
Should change the layout..just have bedroom..wardrobe and a bathroom.. most of these bachelor dont cook anyway..
That becomes a hotel guest room. The quantum might be low but they may have to pay a price for it when downturn. Just like penny stock in crisis.
Should change the layout..just have bedroom..wardrobe and a bathroom.. most of these bachelor dont cook anyway..
Should change the layout..just have bedroom..wardrobe and a bathroom.. most of these bachelor dont cook anyway..
Just have a grand bedroom,more grand bathroom, lots of nice handles strategically place with bathtube for 2 with see thru glass panels with switch to select clear or opaque. Wall mount LED 60" TV hidden with BOSS cube speakers hidden in corner. Add a stylo fridge and comfy 2 seater designer seat .
Designed for the bachelor in mind.
All they need is a microwave oven.
Should change the layout..just have bedroom..wardrobe and a bathroom.. most of these bachelor dont cook anyway..
Should change the layout..just have bedroom..wardrobe and a bathroom.. most of these bachelor dont cook anyway..
All no need, just the bedrm. Shared common Bathrm cum toilet, cooking area and washing machine...just like university hostel.
devilplate
24-07-11, 17:56
I just saw a 344 sq ft on sale! :scared-1:
U sounds like so suaku..y?:p
Suites@guillemard still hold the mm trophy....344sqft is too big liao la...whahaha
Those 3xxsqft studio n 5xxsqft 2bedder really power....whahaha
Just have a grand bedroom,more grand bathroom, lots of nice handles strategically place with bathtube for 2 with see thru glass panels with switch to select clear or opaque. Wall mount LED 60" TV hidden with BOSS cube speakers hidden in corner. Add a stylo fridge and comfy 2 seater designer seat .
Designed for the bachelor in mind.
That would be a sellout :D
Wild Falcon
25-07-11, 11:47
That I agree as Singapore is such a small country and transportation links is key. As transportation links improve and new regional centers are formed, the distinction becomes increasingly insignificant and obsolete.
Having said that, I dont think all segment of properties look promising. Unless one really has to buy a place for own occupation, its best not to buy any property (be it CCR or OCR or RCR) today purely for investments. It is already quite close to the top of the market liao. And watever capital gains might be limited.
I honestly think it is pretty meaningless to compare investment gain of CCR RCR ORC property. At the end of the day, all our property investment gain is not dependent on location but rather the health and diversity of overall Singapore economy.
At the moment, I think all segment of the properties are very promising, all we should hope for is that Singapore economy is developed to quickly adapt to changes
all for singapore, all for love
Sometimes, they don't move in tandem, sometime more, sometime less, sometime in step, sometime out of step in terms of price acceleration & deceleration. Below are latest comments from analysts' reports for reference:
Residential Property Sector: OCR prices decelerate
Continued moderation in price increase. URA released 2Q11 real estate
statistics last Friday which showed a seventh consecutive moderating in
the private residential price index to a 2.0% QoQ appreciation versus 2.2%
in 1Q11. Note that pace of moderation appears to be slowing with only a
0.2% drop in the rate of appreciation versus a more hefty 0.5% drop seen
last quarter. By region, we saw the price index of the core central region
(CCR) accelerate to 2.0% appreciation in 2Q11, and the rest of central
region (RCR) and outside central region (OCR) decelerated to 1.1% and
1.7% for the quarter respectively.
Basically, it shows price increase for OCR and RCR has decelerated significantly while for CCR has accelerated (expected since CCR is the only one below 2007 peak while OCR & RCR has gone up significantly above 2007 peak!).
CCR is expected to continue price upside to 2007 peak and above while OCR will become stagnant with the rate of deceleration.
I honestly think it is pretty meaningless to compare investment gain of CCR RCR ORC property. At the end of the day, all our property investment gain is not dependent on location but rather the health and diversity of overall Singapore economy.
At the moment, I think all segment of the properties are very promising, all we should hope for is that Singapore economy is developed to quickly adapt to changes
all for singapore, all for love
Sometimes, they don't move in tandem, sometime more, sometime less, sometime in step, sometime out of step in terms of price acceleration & deceleration. Below are latest comments from analysts' reports for reference:
Residential Property Sector: OCR prices decelerate
Continued moderation in price increase. URA released 2Q11 real estate
statistics last Friday which showed a seventh consecutive moderating in
the private residential price index to a 2.0% QoQ appreciation versus 2.2%
in 1Q11. Note that pace of moderation appears to be slowing with only a
0.2% drop in the rate of appreciation versus a more hefty 0.5% drop seen
last quarter. By region, we saw the price index of the core central region
(CCR) accelerate to 2.0% appreciation in 2Q11, and the rest of central
region (RCR) and outside central region (OCR) decelerated to 1.1% and
1.7% for the quarter respectively.
Basically, it shows price increase for OCR and RCR has decelerated significantly while for CCR has accelerated (expected since CCR is the only one below 2007 peak while OCR & RCR has gone up significantly above 2007 peak!).
CCR is expected to continue price upside to 2007 peak and above while OCR will become stagnant with the rate of deceleration.
We will need to look at 3-5 years average growth rate to confirm if there is a big disparity of growth between the different region. Quarterly result can be misleading due to he high transaction price of new launches and MM apartment etc.
I think that in order for CCR to move back to 2007, banks and bankers will first need to find a something profitable to replace the subprime mortgage CDOs.
We will need to look at 3-5 years average growth rate to confirm if there is a big disparity of growth between the different region. Quarterly result can be misleading due to he high transaction price of new launches and MM apartment etc.
I think that in order for CCR to move back to 2007, banks and bankers will first need to find a something profitable to replace the subprime mortgage CDOs.
CCR depends a lot on foreign investors... So unless foreign investors come, the increase will be really small.... One small thing to note though is that once the foreign investors comes, the increase will be fast and furious... So must look out for it....
CCR depends a lot on foreign investors... So unless foreign investors come, the increase will be really small.... One small thing to note though is that once the foreign investors comes, the increase will be fast and furious... So must look out for it....
UBS, Credit Suisse and other big investment banks are announcing major job cut and cost cutting measures, as profit weaken. Not a good sign for luxury properties at the moment as rental income for luxury properties is highly dependent on the demand from banking industry. Rental yield is definitely going to take a hit.
I think the SSD basically kills off any possible return of big foreign fund back to Singapore residential sectors.
UBS, Credit Suisse and other big investment banks are announcing major job cut and cost cutting measures, as profit weaken. Not a good sign for luxury properties at the moment as rental income for luxury properties is highly dependent on the demand from banking industry. Rental yield is definitely going to take a hit.
I think the SSD basically kills off any possible return of big foreign fund back to Singapore residential sectors.
Why only CCR? Effect will certainly propogate to RCR..OCR..
But this was a known fact that global recovery is not happening.. its just some people who believe SG GDP keep 7-8% while rest of the world suffers.. and there are still people who believ that.. :beats-me-man:
You make wrong conclusion lah. By the way, UOB, OCBC, ICICI, and many other Asia banks all expanding and going to employ many many more private bankers in Singapore lei! :D
UBS, Credit Suisse and other big investment banks are announcing major job cut and cost cutting measures, as profit weaken. Not a good sign for luxury properties at the moment as rental income for luxury properties is highly dependent on the demand from banking industry. Rental yield is definitely going to take a hit.
I think the SSD basically kills off any possible return of big foreign fund back to Singapore residential sectors.
Condo Kaiser
26-07-11, 16:35
UBS, Credit Suisse and other big investment banks are announcing major job cut and cost cutting measures, as profit weaken. Not a good sign for luxury properties at the moment as rental income for luxury properties is highly dependent on the demand from banking industry. Rental yield is definitely going to take a hit.
I think the SSD basically kills off any possible return of big foreign fund back to Singapore residential sectors.
At the same time GS, the biggest and most profitable investment bank in the world is shifting more of its resources to Singapore to be positioned for the rise of China as well as Apac region.
Two sides of the coin.....
devilplate
26-07-11, 16:36
You make wrong conclusion lah. By the way, UOB, OCBC, ICICI, and many other Asia banks all expanding and going to employ many many more private bankers in Singapore lei! :D
I read goldman sach cut their usa office n expand sg office rite? Hehe
Huat argh!
Count ourselves lucky to be in asia! Can leech on big bro china:D
You make wrong conclusion lah. By the way, UOB, OCBC, ICICI, and many other Asia banks all expanding and going to employ many many more private bankers in Singapore lei! :D
Cannot compare private bankers to investment bankers lah. Different
league.
from what I heard the banks are not as profitable as they were and they are not going crazy with super bonus yet.
At the same time GS, the biggest and most profitable investment bank in the world is shifting more of its resources to Singapore to be positioned for the rise of China as well as Apac region.
Two sides of the coin.....
There will definitely be some positive effect from this move IF it does materialized. however today's banks are no longer as profitable as they were and they are also becoming more careful about the bonuses.
They are just black cats, brown cats, siamese cats, different names, almost same lah! :cheers1:
Cannot compare private bankers to investment bankers lah. Different
league.
from what I heard the banks are not as profitable as they were and they are not going crazy with super bonus yet.
They are just black cats, brown cats, siamese cats, different names, almost same lah! :cheers1:
To a rat, they all look the same.
Yah lor, so many Rich Chinese coming and more richer ones will come with tightening of property buying in China! :cheers1:
I read goldman sach cut their usa office n expand sg office rite? Hehe
Huat argh!
Count ourselves lucky to be in asia! Can leech on big bro china:D
Singapore is financial hub, n Asia is the region of growth, naturally shift more headcounts from US n Europe to Singapore.
Condo Kaiser
26-07-11, 20:01
There will definitely be some positive effect from this move IF it does materialized. however today's banks are no longer as profitable as they were and they are also becoming more careful about the bonuses.
Tht is not an "IF".. GS is definitely expanding in Singapore.
Cannot compare private bankers to investment bankers lah. Different
league.
from what I heard the banks are not as profitable as they were and they are not going crazy with super bonus yet..
I think the top private bankers don't make less than the top investment bankers.... PLUS..... we cannot just look at the top earners... it's much easier to be a so-so private banker and make 200k -300k a year... than to be a so - so investment banking associate and make 200k a year... once you move past the 5 years experience bracket... there are A LOT less investment bankers than private bankers....
i feel if singapore can grow into a real private banking hub.... there will be 10 times more RICH people here than now... they might not live here most of the year... but they won't mind buying a unit at Robertson / Ardmore / Paterson just for 3 months use every year... just to pass time during winter in their home country...
i feel if singapore can grow into a real private banking hub.... there will be 10 times more RICH people here than now... they might not live here most of the year... but they won't mind buying a unit at Robertson / Ardmore / Paterson just for 3 months use every year... just to pass time during winter in their home country...
Why so? Those wealthy individuals may choose to open accounts in Singapore, but why would they want to buy a property here, or even want to spend a extended period of time here every year?
Why so? Those wealthy individuals may choose to open accounts in Singapore, but why would they want to buy a property here, or even want to spend a extended period of time here every year?
confirm they are already here. i heard from a SQ friends that she meet a rich china man whom come in here with loads of cash to pick up 2 units at silversea.
also had a drink with a pretty n well educated chinese gal with good family background. Alot of their peers and parents are looking to buy something here or already bought something.
1% of china pple come will flood our property market. If they continue to come, what is 50k unsold units? already the foreign buyers are accounting an increase % of sales done.
but then, that was just b4 the CM4. I m sure CM4 have killed some of those $$.
confirm they are already here. i heard from a SQ friends that she meet a rich china man whom come in here with loads of cash to pick up 2 units at silversea.
also had a drink with a pretty n well educated chinese gal with good family background. Alot of their peers and parents are looking to buy something here or already bought something.
1% of china pple come will flood our property market. If they continue to come, what is 50k unsold units? already the foreign buyers are accounting an increase % of sales done.
but then, that was just b4 the CM4. I m sure CM4 have killed some of those $$.
Recently a banker friend told me a "crazy" PRC businessman negotiated with him to get 80% loan to get 28 units. He almost thot he heard wrongly:scared-5: . He didn't get it as this is SGP. In the end he bot 8 units :scared-4:
Recently a banker friend told me a "crazy" PRC businessman negotiated with him to get 80% loan to get 28 units. He almost thot he heard wrongly:scared-5: . He didn't get it as this is SGP. In the end he bot 8 units :scared-4:
Maybe he paid cash for the other 20 units :scared-1:
SSD and 60LTV move all the demand to OCR.... But demand will definitely return....
Did anyone watch channel five news earlier? Illy wife said there is a segment on property... What did they say o. The program?
Condo Kaiser
27-07-11, 00:35
Why so? Those wealthy individuals may choose to open accounts in Singapore, but why would they want to buy a property here, or even want to spend a extended period of time here every year?
there are so many reasons why would a HNWI buy a property in singapore... i can't even begin to list them...
but one thing for sure is they will not go and buy somewhere like west coast or bishan...:spliff:
devilplate
27-07-11, 00:52
there are so many reasons why would a HNWI buy a property in singapore... i can't even begin to list them...
but one thing for sure is they will not go and buy somewhere like west coast or bishan...:spliff:
But the problem is they can afford to b damn choosy
Budget is not a problem for them....they only want the bestest....is urs bestest to them?
Bestest must sell at much more than $2000 psf mah. You buy OCR can sell at >$2000 psf? :p
But the problem is they can afford to b damn choosy
Budget is not a problem for them....they only want the bestest....is urs bestest to them?
Tht is not an "IF".. GS is definitely expanding in Singapore.
I think the top private bankers don't make less than the top investment bankers.... PLUS..... we cannot just look at the top earners... it's much easier to be a so-so private banker and make 200k -300k a year... than to be a so - so investment banking associate and make 200k a year... once you move past the 5 years experience bracket... there are A LOT less investment bankers than private bankers....
i feel if singapore can grow into a real private banking hub.... there will be 10 times more RICH people here than now... they might not live here most of the year... but they won't mind buying a unit at Robertson / Ardmore / Paterson just for 3 months use every year... just to pass time during winter in their home country...
I am not sure where you get those information from, AFAIK, entry level private bankers make less than 100K a year, and you will need to be a VP or AVP to make $200-300K per year. And if you are "so-so", you will never be able to survive to become a VP.
Post financial crisis, banks has also stop giving out massive bonuses and relying more on fixed income salary and this in turn has forced banks to start trimming fats to improve profitability, which I am sure will include unnecessary housing allowance etc.
For Singapore, cost of housing in CCR area have not hit 2007 level, but for US or European banks or foreign investor, it has already surpass 2007 due to strong S$. Like I said, the 2007 housing madness in CCR was possible because banks and investors are making huge load of money selling subprime CDOs which is worth trillions of dollars. And now that the music stops, it will take awhile before things get back to where they were again.
Another factor to consider that is that Singapore has now become the top expat destination in the world, which mean more and more FT, including bankers, will be willing to take up a job offer in Singapore even without having an expat package. So just like taking a plane, when you are not traveling on your company's account, will you fly business or first class?
I am not sure where you get those information from, AFAIK, entry level private bankers make less than 100K a year, and you will need to be a VP or AVP to make $200-300K per year. And if you are "so-so", you will never be able to survive to become a VP.
Post financial crisis, banks has also stop giving out massive bonuses and relying more on fixed income salary and this in turn has forced banks to start trimming fats to improve profitability, which I am sure will include unnecessary housing allowance etc.
For Singapore, cost of housing in CCR area have not hit 2007 level, but for US or European banks or foreign investor, it has already surpass 2007 due to strong S$. Like I said, the 2007 housing madness in CCR was possible because banks and investors are making huge load of money selling subprime CDOs which is worth trillions of dollars. And now that the music stops, it will take awhile before things get back to where they were again.
Another factor to consider that is that Singapore has now become the top expat destination in the world, which mean more and more FT, including bankers, will be willing to take up a job offer in Singapore even without having an expat package. So just like taking a plane, when you are not traveling on your company's account, will you fly business or first class?
Actually worse is to come in next years..dodd frank..and continued pain after that with Basel III requirements..:scared-3:
People dont understand that GS is getting people in SG for "Cost cutting"..not for increasing cost base..:doh:
I have friends getting recruited by GS and its nothing to shout about.. were assured they will be taken care at Bonus time..but with GS results like this ..can wait and wait..:tsk-tsk:
Make hay while the sun shine.. nexy few years Banking will still "Pay".. After that time for career shift :D
Bankers earning >$300k to $Millions a year, what do you expect them to do? Live in HDB flats or OCR condos and rub shoulders with poorer folks to get more business deals? Fly economy class? Drive Kia Picanto? How to instill confidence in their potential clients that they "can make it" rich for their clients (and hence themselves)? :beats-me-man:
I am not sure where you get those information from, AFAIK, entry level private bankers make less than 100K a year, and you will need to be a VP or AVP to make $200-300K per year. And if you are "so-so", you will never be able to survive to become a VP.
Post financial crisis, banks has also stop giving out massive bonuses and relying more on fixed income salary and this in turn has forced banks to start trimming fats to improve profitability, which I am sure will include unnecessary housing allowance etc.
For Singapore, cost of housing in CCR area have not hit 2007 level, but for US or European banks or foreign investor, it has already surpass 2007 due to strong S$. Like I said, the 2007 housing madness in CCR was possible because banks and investors are making huge load of money selling subprime CDOs which is worth trillions of dollars. And now that the music stops, it will take awhile before things get back to where they were again.
Another factor to consider that is that Singapore has now become the top expat destination in the world, which mean more and more FT, including bankers, will be willing to take up a job offer in Singapore even without having an expat package. So just like taking a plane, when you are not traveling on your company's account, will you fly business or first class?
Bankers earning >$300k to $Millions a year, what do you expect them to do? Live in HDB flats or OCR condos and rub shoulders with poorer folks to get more business deals? Fly economy class? Drive Kia Picanto? How to instill confidence in their potential clients that they "can make it" rich for their clients (and hence themselves)? :beats-me-man:
they will sure stay in D1, near their office. D1 - Sail, Clift, S1, icon, etc
Then how to get more customers since it is well known that these places are mostly for rentals to finance side FTs? Finance side FTs sell investment products to each other? :beats-me-man:
they will sure stay in D1, near their office. D1 - Sail, Clift, S1, icon, etc
Then how to get more customers since it is well known that these places are mostly for rentals to finance side FTs? Finance side FTs sell investment products to each other? :beats-me-man:
if you want to look for customers go orchard tower
I have friends getting recruited by GS and its nothing to shout about..
recently ? in the anson bdg side ? can share what kind of job and what kind of range GS is paying ?
What I know is, in the US, a fresh grad starts at 100k USD. an ex-developer (not banker) was recently sued by GS for bringing along trade secrets when he left. He was paid 1mil USD back in GS.
S'pore Q2 luxury home prices stay flat in wake of govt curbs
(SINGAPORE) Luxury residential prices in Singapore stayed flat in the second quarter as buyers remained cautious after recent tightening measures by the government, said Jones Lang LaSalle (JLL) yesterday.
According to a report from the property consultancy, prices in Singapore's luxury prime market remained stable in Q2 - there was no change either from the previous quarter or the previous year.
Across Asia, the mood in luxury residential markets was generally muted. Average capital values rose 1.6 per cent quarter- on-quarter in Q2, slightly lower than the 1.8 per cent increase seen in the previous quarter.
'Sales activity cooled in Q2 11, with fewer launches and sales recorded in most markets as a result of ongoing tightening measures by various governments,' JLL said.
It monitored eight luxury residential markets and prices remained stable in three of them in Q2: Mumbai, Shanghai and Singapore. In Beijing, prices declined 1.9 per cent quarter-on-quarter. In the other four cities - Bangkok, Hong Kong, Jakarta and Kuala Lumpur - capital values increased during the quarter.
Hong Kong's market was particularly strong, with luxury residential prices surging 7.3 per cent quarter-on-quarter and 28.3 per cent year-on-year in Q2, due to continuing rental growth and tight supply. Prices rose despite government measures aimed at curbing speculative demand.
JLL expects luxury residential prices to generally remain stable or see slower growth this year due to policy and interest rate risks.
'Prices in China are expected to either remain flat or edge down slightly over the rest of this year as developers will likely introduce more price discounts and launch less high-priced units over the next 12 months,' it said.
In Singapore, prices are likely to remain largely stable over the second half of the year, with 'continued demand from end-users and long-term investors'.
SINGAPORE (REUTERS) - Luxury home prices in Singapore fell during the second quarter as Asia's high-end
residential market showed signs of softening amid tighter mortgage lending and rising interest rates,
property services firm CB Richard Ellis said on Monday.
Singapore luxury home prices declined by 1.7 per cent in local currency terms in April-June from the preceding
quarter, while average rents fell by 1.9 per cent as completed units
came onto the market, CBRE said in a statement.
In contrast, Hong Kong property values rose 8.9 per cent quarter-on-quarter although the pace was slower than the
14 per cent seen in the first three months of the year.
'Tightened mortgage lending and rising interest rates continued to impact on buyer demand in most Asian markets in the second
quarter of 2011,' CBRE said.
recently ? in the anson bdg side ? can share what kind of job and what kind of range GS is paying ?
What I know is, in the US, a fresh grad starts at 100k USD. an ex-developer (not banker) was recently sued by GS for bringing along trade secrets when he left. He was paid 1mil USD back in GS.
arnd 10yr experienced IT guy got arnd 160K SGD..
Thinks they have office in Internation business plaza..
Sure traders will be paid a lot..but usually very few traders and mostly its support staff..
GS is hiring 1K..
but Barcap would be moving jobs to india by mid-next year.. transition already is progress..... its a guess work..but think 2-3 K jobs in SG will be cut by them..:scared-3:
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