View Full Version : Our properties prices are dropping!
Against gold price in US$ :D So properties in Singapore are getting cheaper relatively. With almost 0% interest, it's time to load more properties :p
Gold price has surged from US$1600+ to US$1820+ in about a month.
http://goldprice.org/.
buttercarp
19-08-11, 07:35
Against gold price in US$ :D So properties in Singapore are getting cheaper relatively. With almost 0% interest, it's time to load more properties :p
Gold price has surged from US$1600+ to US$1820+ in about a month.
http://goldprice.org/.
Why do u say properties are getting relatively cheaper?
Unless you have bought lots of gold at its low?
So the properties are relatively cheaper to u not to everyone.
Against gold price in US$ :D So properties in Singapore are getting cheaper relatively. With almost 0% interest, it's time to load more properties :p
Gold price has surged from US$1600+ to US$1820+ in about a month.
http://goldprice.org/.
Wah wah...misleading title. Gold up, means everything DROPING.? My view is gold might still be a better bet compare to equity, however ppty will still be better than gold in long term. In any case ppl needs roof more than gold.
Wah wah...misleading title. Gold up, means everything DROPING.? My view is gold might still be a better bet compare to equity, however ppty will still be better than gold in long term. In any case ppl needs roof more than gold.
Haha. Gold has reached new peak last night. More liquidity flowing into Singapore. MAS today announced tt they will not interfere interest rate. Naturally e money will flow into property. Likely more pp will buy property n hold. We r going to have quantity bubble.
kingkong1984
19-08-11, 09:24
Forum will be very quiet today...
buttercarp
19-08-11, 09:51
Haha. Gold has reached new peak last night. More liquidity flowing into Singapore. MAS today announced tt they will not interfere interest rate. Naturally e money will flow into property. Likely more pp will buy property n hold. We r going to have quantity bubble.
I would like to think the bubble as a helium balloon, flying up and up to the sky. The sky is the limit, however where is the limit?
It is very interesting to see which direction we are heading.
Hopefully when we read this forum many years later, we will be smiling as we recount how we reacted to the stiuation, whatever it may be.
margin will be increased for gold very soon...the same happened to silver when it was approaching US$50
Alan Shearer
19-08-11, 10:41
Forum will be very busy today:)
stalingrad
19-08-11, 10:46
Forum will be very busy today:)
yes, made busy by people who shorted the market, like me.:D
I made at least $5k. in just a few days.
devilplate
19-08-11, 10:51
yes, made busy by people who shorted the market, like me.:D
I made at least $5k. in just a few days.
surprised by the amount u made....shd be 500k rite?
Alan Shearer
19-08-11, 10:51
Impressive.
Are you going to retire?
devilplate
19-08-11, 10:52
Impressive.
Are you going to retire?
retire wif 5k?:eek:
yes, made busy by people who shorted the market, like me.:D
I made at least $5k. in just a few days.
He retired liao... coz a few months ago he made a killing...
from one trade he made more money then us forummers in a lifetime, so now he can trcae small just to pass time...
We morons better dont question him...
stalingrad
19-08-11, 11:11
Impressive.
Are you going to retire?
no, not going to retire. How can I retire if I am having such fun watching you guys up to your eyebrows with prime properties getting slaughtered by the coming correction.
haha, so much fun. where is teddy when you need someone to laugh at.
Regulators
19-08-11, 11:44
correction in prime properties will affect your carabelle as well, have you thought of that?
no, not going to retire. How can I retire if I am having such fun watching you guys up to your eyebrows with prime properties getting slaughtered by the coming correction.
haha, so much fun. where is teddy when you need someone to laugh at.
Haha. Gold has reached new peak last night. More liquidity flowing into Singapore. MAS today announced tt they will not interfere interest rate. Naturally e money will flow into property. Likely more pp will buy property n hold. We r going to have quantity bubble.
2-mths ago, my brother-in-law put up his EC for sale.. bank value $860k.. less buyer offer but highest offer was $830k.. can't closed at $840k.. so no deal.
Since the plunge of interest rate beginning of this month.. suddenly more buyers came for viewing.. this time highest offer at $840k.. also found out that bank valued also went up.. so deal was closed very fast.
stalingrad
19-08-11, 12:21
correction in prime properties will affect your carabelle as well, have you thought of that?
I don't worry about it because we have more in cash than in properties. We will buy more properties if and when the market corrects 30% or more.
Allthepies
19-08-11, 12:25
I don't worry about it because we have more in cash than in properties. We will buy more properties if and when the market corrects 30% or more.
hope u dont keep ur cash in us$... ha ha ha ah ha h:D
Jonathan0503
19-08-11, 13:41
I don't worry about it because we have more in cash than in properties. We will buy more properties if and when the market corrects 30% or more.
How do you know those who own prime properties don't have a lot of cash leh?
Condo Kaiser
19-08-11, 14:04
you guys don't doubt him la... he's made 5k in the only a few days.... got so much cash... he's going to single handedly support the price level in carabelle...
when every property in CCR drop 30% carabelle will see further rise in prices... potentially $3000psf.... I'm going to call my agent now... sell all my CCR units and go buy carabelle...
stalingrad
19-08-11, 14:19
you guys don't doubt him la... he's made 5k in the only a few days.... got so much cash... he's going to single handedly support the price level in carabelle...
when every property in CCR drop 30% carabelle will see further rise in prices... potentially $3000psf.... I'm going to call my agent now... sell all my CCR units and go buy carabelle...
now you are talking.
i think its silly to assume hot money flow into singapore is mainly to buy properties....
why not singapore stocks?
so far, those who bought last month are mainly locals so i think foreign investors are still staying away... with all the recent cooling measures....
on a broader picture.... you can see HK housing prices are already on its way down... so their measures are showing effect....
will SG follow???
Regulators
19-08-11, 14:26
You picking stocks today? :D
i think its silly to assume hot money flow into singapore is mainly to buy properties....
why not singapore stocks?
so far, those who bought last month are mainly locals so i think foreign investors are still staying away... with all the recent cooling measures....
on a broader picture.... you can see HK housing prices are already on its way down... so their measures are showing effect....
will SG follow???
i dont trade on Friday...
but i was glad to see my Green Mobile XD and still above water from last week. :D
stalingrad
19-08-11, 14:37
I really pity many of the investors in properties. they never read newspapers. they never do a serious analysis of economic outlooks. US is tanking, Euro zone is tanking, China is having a hard landing. But these morons just keep on buying properties. the whole world is falling apart. the economic order as we know it will soon end, replaced by something totally unknown. but singaporeans keep on buying properties in these situations, from developers in particualr. Now they are losing their shirts when the market corrects.
ignorance is not bliss, you know.
i think its silly to assume hot money flow into singapore is mainly to buy properties....
why not singapore stocks?
so far, those who bought last month are mainly locals so i think foreign investors are still staying away... with all the recent cooling measures....
on a broader picture.... you can see HK housing prices are already on its way down... so their measures are showing effect....
will SG follow???
Was told there there are indeed plenty of hot money coming into Singapore property sectors to scope up private properties and even landed for redevelopment (through proxy or company).
I really pity many of the investors in properties. they never read newspapers. they never do a serious analysis of economic outlooks. US is tanking, Euro zone is tanking, China is having a hard landing. But these morons just keep on buying properties. the whole world is falling apart. the economic order as we know it will soon end, replaced by something totally unknown. but singaporeans keep on buying properties in these situations, from developers in particualr. Now they are losing their shirts when the market corrects.
ignorance is not bliss, you know.
what do you do with all the cash then? hmm....
doing nothing with the hot money will shrink its value...
over last 2 days, 3 banks called me to offer me cash at 5% pa...
of course i reject... and guess what, from 5%, go down to 2.88%pa...
really a big problem for banks now? too much cash....
i'm no economic expert, just thinking logically... but of course not all properties are created equal... buying from developers has its pros and cons.. although i tend to agree, its somewhat quite costly now for the new launches... :D
Hot money flowing in doesnt mean actual $, it could be institutional who buy Sgd and sell USD, just like commodities, you don't get the physical asset from the trade, is a futures index...bank has more liquidity is because fund manager decide to hold on to cash rather than other type of investment.
buttercarp
19-08-11, 22:15
I really pity many of the investors in properties. they never read newspapers. they never do a serious analysis of economic outlooks. US is tanking, Euro zone is tanking, China is having a hard landing. But these morons just keep on buying properties. the whole world is falling apart. the economic order as we know it will soon end, replaced by something totally unknown. but singaporeans keep on buying properties in these situations, from developers in particualr. Now they are losing their shirts when the market corrects.
ignorance is not bliss, you know.
So you rather put money in bank?
If you got money, it is good to buy something tangible like property.
It may drop but if you got holding power, you can hold on to it.
Property is a win win situation if you don't have to borrow to the hilt.
Hot money flowing in doesnt mean actual $, it could be institutional who buy Sgd and sell USD, just like commodities, you don't get the physical asset from the trade, is a futures index...bank has more liquidity is because fund manager decide to hold on to cash rather than other type of investment.
after buying Sgd, then do what? if accordingly to SIBOR, its negative, means the institutions need to pay banks money to hold their SGD ca$h? :banghead:
maybe not too bad, assuming $SGD appreciate faster than $USD, then maybe leaving the ca$h in bank make sense, if nett nett still make money after converting back to $USD.... :spliff:
flagship74
19-08-11, 23:39
i think its silly to assume hot money flow into singapore is mainly to buy properties....
why not singapore stocks?
so far, those who bought last month are mainly locals so i think foreign investors are still staying away... with all the recent cooling measures....
on a broader picture.... you can see HK housing prices are already on its way down... so their measures are showing effect....
will SG follow???
hello bro, u maybe correct.:doh:
http://sg.finance.yahoo.com/news/Mainland-Chinese-Big-Buyers-cnbc-332954427.html?x=0
Where got time to talk to moron like you? Past 1 week make $100k from trading! Wah ha ha ha! :cheers1:
no, not going to retire. How can I retire if I am having such fun watching you guys up to your eyebrows with prime properties getting slaughtered by the coming correction.
haha, so much fun. where is teddy when you need someone to laugh at.
How to do trading? I never traded stocks before...:o
phantom_opera
20-08-11, 10:09
Correction of property prices in Singapore is inevitable but it will not crash back to 2004 level due to inflation over the last 7y and market full of hot money waiting to make a killing. I think a minimum of 20% correction is coming (i.e. 1000 -> 800psf, 2000-> 1600psf)
Thomson Grand/CAPL's Bishan's could be remembered as another peak price pt again :mad:
For the fundamentals, read the following fr Marc Faber:
Financial conditions are today worse than they were prior to the crisis in 2008. The fiscal deficits have exploded and the political system in both the U.S. and Europe has become completely dysfunctional.
For the technical side, Dow @ 10k will be the key support level, if QE3 does not come out, God bless America
10y SGS yield 1.54% ... ppl are willing to lend money to Singapore government for 10y for 1.54% interest only !!!
I_RIDE_DEEP
20-08-11, 10:26
My personal wish is that Balestier (D12) side will correct to 1000psf price point again.
Why do u say properties are getting relatively cheaper?
Unless you have bought lots of gold at its low?
So the properties are relatively cheaper to u not to everyone.
C'mon, there are some many property agents surfing here, give them some freedom to sing the right tune accordingly. Give them some chance lah.
Isuites at e Kovan is giving discount of $20k?
Regulators
20-08-11, 12:08
Do you guys think bliss@kovan is a good price? The location seems very good.
Do you guys think bliss@kovan is a good price? The location seems very good.
If u dun mind e traffic along upper serangoon, n like to take mrt, it is quite good. V limited 1 bedder! Muz grab!
kingkong1984
20-08-11, 12:27
Correction of property prices in Singapore is inevitable but it will not crash back to 2004 level due to inflation over the last 7y and market full of hot money waiting to make a killing. I think a minimum of 20% correction is coming (i.e. 1000 -> 800psf, 2000-> 1600psf)
Thomson Grand/CAPL's Bishan's could be remembered as another peak price pt again :mad:
For the fundamentals, read the following fr Marc Faber:
Financial conditions are today worse than they were prior to the crisis in 2008. The fiscal deficits have exploded and the political system in both the U.S. and Europe has become completely dysfunctional.
For the technical side, Dow @ 10k will be the key support level, if QE3 does not come out, God bless America
10y SGS yield 1.54% ... ppl are willing to lend money to Singapore government for 10y for 1.54% interest only !!!
a good one....
just use simple terms. If u think Lehman is a peanut. The new problem is a coconut!
hahahahaa....
a good one....
just use simple terms. If u think Lehman is a peanut. The new problem is a coconut!
hahahahaa....
in 2008 bailout of banks,
now bailout of countries!! :D :D
flagship74
20-08-11, 12:41
in 2008 bailout of banks,
now bailout of countries!! :D :D
yeah! how abt Mars bailout Earth?:D
phantom_opera
20-08-11, 13:12
Germany DAX down 25% in less than one month .... is Europe worse than the US?!
HP worse, down 20% yesterday
a lot a lot of noises... a lot fundamentals as well... hard to tell which is which...
Our little red dot is in special position, in this special situation... :D
a lot a lot of noises... a lot fundamentals as well... hard to tell which is which...
Our little red dot is in special position, in this special situation... :D
What's special about SG?
phantom_opera
20-08-11, 14:25
If property stock is a leading indicator ... brace yourself for at least 20% correction in prop market. Note the distance of the index from its 200dMA is at its worst since the last recovery.
http://chart.finance.yahoo.com/z?s=FSTAS8600.SI&t=2y&q=l&l=on&z=l&a=v&p=m200&lang=en-SG®ion=SG
And bear in mind the government regulation is at its worst ever, 4y SSD, 2nd loan @ 60% LTV, must sell private once buy resale HDB ... flood of 50k new HDBs this n next year .... flood of GLS / ECs ... the list goes on... the only saving grace from a crash is probably just rock bottom interest rate
Prop agents must find another job soon :2cents:
Elliot Wave say short gold 100% with stop loss at 1950. :confused:
in 2008 bailout of banks,
now bailout of countries!! :D :D
in 2008, print a bit of money.
now, print a lot of money.
who's picking the tab? the next generation.
Make sure have an exit strategy in your property investment. Better sell and recognise profit than take a risk. Don't be greedy :cool:
buttercarp
20-08-11, 16:43
C'mon, there are some many property agents surfing here, give them some freedom to sing the right tune accordingly. Give them some chance lah.
Eh, I no property agent leh.
I have a recession proof job.
I am just giving my view that I feel that the property market in Singapore is not going to fall anytime.
Even if fall, it will not affect me cos I don't speculate.
If property stock is a leading indicator ... brace yourself for at least 20% correction in prop market. Note the distance of the index from its 200dMA is at its worst since the last recovery.
http://chart.finance.yahoo.com/z?s=FSTAS8600.SI&t=2y&q=l&l=on&z=l&a=v&p=m200&lang=en-SG®ion=SG
And bear in mind the government regulation is at its worst ever, 4y SSD, 2nd loan @ 60% LTV, must sell private once buy resale HDB ... flood of 50k new HDBs this n next year .... flood of GLS / ECs ... the list goes on... the only saving grace from a crash is probably just rock bottom interest rate
Prop agents must find another job soon :2cents:
Was looking at classified. Many is asking $1.5kpsf for esta and amber. Don't look like the price is going to fall soon.
Was looking at classified. Many is asking $1.5kpsf for esta and amber. Don't look like the price is going to fall soon.
Even though the crocodiles are shouting price droppings, it could
take some time for the flamingos to come out & hunt for food & fall prey as they are well fed this time round and the food supply at home is really cheap at negative rate...:D
buttercarp
20-08-11, 17:30
Even though the crocodiles are shouting price droppings, it could
take some time for the flamingos to come out & hunt for food & fall prey as they are well fed this time round and the food supply at home is really cheap at negative rate...:D
Or a higher being can save the flamingoes by slaughtering the crocodiles for their leather......
Even though the crocodiles are shouting price droppings, it could
take some time for the flamingos to come out & hunt for food & fall prey as they are well fed this time round and the food supply at home is really cheap at negative rate...:D
Many crocodiles are swimming at my estate. After sending the crocs away, I overheard agents saying most are just looking/shopping around. Looks like many are waiting for price to fall.
buttercarp
20-08-11, 18:00
Many crocodiles are swimming at my estate. After sending the crocs away, I overheard agents saying most are just looking/shopping around. Looks like many are waiting for price to fall.
Maybe the crocodiles will become girraffes as they wait until their neck grow so long.
Eh, I no property agent leh.
I have a recession proof job.
I am just giving my view that I feel that the property market in Singapore is not going to fall anytime.
Even if fall, it will not affect me cos I don't speculate.
You are a mortician / undertaker? That's the only recession-proof job I can think of. :D
Speculators make the market crash and the crash affects everyone. Bad government spends the nation's country (or money that the country does not even have) and that affects everyone too. If the government prints more money, your $1 is not worth $1 any more. Of course you are affected.
phantom_opera
20-08-11, 18:41
Hoping property price will stay at this level is simply unrealistic as we are living in a globalized world. If Amber asking price still firm, elsewhere like HK/Shanghai may have gone down by 10% and eventually Amber will need to lower their asking prices by 10% too.
It is not the end of the world and long term potential of SG prop market is good. However, nothing goes up in straight line ;)
buttercarp
20-08-11, 18:45
You are a mortician / undertaker? That's the only recession-proof job I can think of. :D
Speculators make the market crash and the crash affects everyone. Bad government spends the nation's country (or money that the country does not even have) and that affects everyone too. If the government prints more money, your $1 is not worth $1 any more. Of course you are affected.
Hahaha...there are more recession proof jobs around.
My $1 put in the bank will become less if I leave it there.
Even if there is a 10-20% price adjustment in property, I can wait.
I believe in 10 years time it will be more than what I have put in, including the bits and ends. That's the time frame I am looking at.
phantom_opera
20-08-11, 19:17
Aug. 15 (Bloomberg) -- Derek Ma and his family in May sold two of their eight properties in Hong Kong, doubling their money in four years. They’re struggling to sell the other six.
“We have been trying to offload more, but many sellers are now cutting prices,” said Ma, 36, whose portfolio includes units mainly in the upscale Mid-levels and Island South districts. “There’s definitely a softening in prices.”
Hong Kong home values, which surged 70 percent in the past two-and-a-half years and outperformed stocks, are set for their biggest decline since Lehman Brothers Holdings Inc. collapsed in September 2008 as land supply increases and global growth slows. Midland Holdings Ltd. and Centaline Property Agency Ltd., the Chinese city’s two biggest real estate agents, said home prices are being reduced by as much as 10 percent.
“We should see at least a 5 percent further correction in the second half if the crisis in the U.S. and Europe deepens,” said Sylvia Wong, a Hong Kong-based analyst at UOB Kay Hian Ltd. “If there’s enough panic in the market, we expect to see more price cuts.”
Hoping property price will stay at this level is simply unrealistic as we are living in a globalized world. If Amber asking price still firm, elsewhere like HK/Shanghai may have gone down by 10% and eventually Amber will need to lower their asking prices by 10% too.
It is not the end of the world and long term potential of SG prop market is good. However, nothing goes up in straight line ;)
EuHabitat was selling very well today. showroom was packed throughout in the pm,saw many cheques presented. there were many enthusiastic buyers,was wondering if the recent meltdown had no effect on them? :cheers6:
stalingrad
20-08-11, 20:14
EuHabitat was selling very well today. showroom was packed throughout in the pm,saw many cheques presented. there were many enthusiastic buyers,was wondering if the recent meltdown had no effect on them? :cheers6:
no effect on them or just because they don't even read the newspapers?
EuHabitat was selling very well today. showroom was packed throughout in the pm,saw many cheques presented. there were many enthusiastic buyers,was wondering if the recent meltdown had no effect on them? :cheers6:
This is the effect:
- stocks don't offer guaranteed yield. More likely they offer negative yield. Risk is higher now.
- property is often used as an inflation hedge with relatively low risk.
- government has re-iterated that they will continue to welcome foreigners (no change in policy for foreigners earning >8K per month)
- with 4-year seller's stamp duty, 60% down payment for 2nd mortgage and low interest rates, we're less likely to see rampant fire sale.
- CPF Ordinary wage ceiling is raised from 4.5k to 5k. Employees who earn more than 4.5k will have more money in CPF for buying property. At the same time, because employee needs to contribute 20% on $500 more, this means small cash flow for him. One way to get more cash is to buy property with CPF funds and get cash from rental.
phantom_opera
20-08-11, 21:14
Developers will rush like mad to launch projects now especially if land is acquired at high prices .... watch Dow @ 10k carefully for any sign of QE3
DAX's 25% crash is really getting on my nerve ... is a German bank about to go belly up :confused:
Wa ma ma ma! My paper money is fast becoming banana money!!! (even though I don't keep so much in cash (just enough for liquidity & emergency) but still significant to see them dropping in value!) :scared-1:
I rather change the cash into hard assets like properties and stocks than keep the cash! :beats-me-man:
in 2008, print a bit of money.
now, print a lot of money.
who's picking the tab? the next generation.
All these idiots offering to buy at low prices from me! The buyers' agents are singing doomed day scenario citing crashing stock prices etc and they are like buddha and so kind-hearted to take over our baby (properties) from us to save us from destruction! :simmering:
I told them them to go fly kite! I tell them: If you have a property that you are offering for that price, why not I be so kind-hearted and buy from them instead to save them from destruction? :D
Many crocodiles are swimming at my estate. After sending the crocs away, I overheard agents saying most are just looking/shopping around. Looks like many are waiting for price to fall.
What's special about SG?
very safe to park money here? we're AAA battery, i mean AAA rating leh... :D
also this is an open market, right? little resitriction for hot money to come and go, except in illiquid investment like properties...
hot money when coming in, make us like cooking + eating curry... :D but when going out, may scare the hell out of us! :scared-1: so, pros and cons la...
like i said, lotsa noises... need a cool head and superb judgement... which of course I have la... just that its not found yet.... :tongue3: :spliff:
very safe to park money here? we're AAA battery, i mean AAA rating leh... :D
also this is an open market, right? little resitriction for hot money to come and go, except in illiquid investment like properties...
hot money when coming in, make us like cooking + eating curry... :D :
AAA..., super low interest rate, strong SGD..., how many countries in same boat..., very few...
Some mass market condos at very good sites are coming up soon. We might see buyers' hot interest when they are launched.
Many crocodiles are swimming at my estate. After sending the crocs away, I overheard agents saying most are just looking/shopping around. Looks like many are waiting for price to fall.
Next time u come across these toothless crocs, tell them u are Crocodile Dundee, waiting to skin them...if they have no bullet$
AAA..., super low interest rate, strong SGD..., how many countries in same boat..., very few...The biggest difference probably between SG and other countries is when economic is going downhill, SG properties are still selling like hot cakes and developers are pushing projects after projects at record prices and buyers are still packing the showflats! Amazing, isn't it? Even when figures all across the globe are showing red, Singaporeans are oblivious or ignorant! Hmmm... interesting to watch how long this trend, rally, whatever you call it, will persist! :D
The biggest difference probably between SG and other countries is when economic is going downhill, SG properties are still selling like hot cakes and developers are pushing projects after projects at record prices and buyers are still packing the showflats! Amazing, isn't it? Even when figures all across the globe are showing red, Singaporeans are oblivious or ignorant! Hmmm... interesting to watch how long this trend, rally, whatever you call it, will persist! :D
some got logic one la... not all, but some... so if you can spot them and have a chat with them, maybe you can understand why la....
i can give you a fictitious example... a very smart investor made tons of $$$ in the stock market recently and decided to diversified a little... so throw some few % into the prop market lor...
another a fictitious example...a couple supposed to get married 3 yrs ago, but because of soaring price, decided to wait... after big recession + 2-3 yrs, still no sound no image of the price going down... so give up la... just buy lo.... bo bian....
another a fictitious example... a recently retired couple, kids all grown up, HDB paid off, suddenly got big amount of $$$ and bank interest ma-chiam not enuff to catch up with price of kopi... so just put into prop lor... at least big amount become small monthly amount, easy to manage and long term preservation of wealth....
enough reason or not huh? the above are all totally made up by me hor... if similar to your case, its purely accidental...pai seh pai seh... :D
some got logic one la... not all, but some... so if you can spot them and have a chat with them, maybe you can understand why la....
i can give you a fictitious example... a very smart investor made tons of $$$ in the stock market recently and decided to diversified a little... so throw some few % into the prop market lor...
another a fictitious example...a couple supposed to get married 3 yrs ago, but because of soaring price, decided to wait... after big recession + 2-3 yrs, still no sound no image of the price going down... so give up la... just buy lo.... bo bian....
another a fictitious example... a recently retired couple, kids all grown up, HDB paid off, suddenly got big amount of $$$ and bank interest ma-chiam not enuff to catch up with price of kopi... so just put into prop lor... at least big amount become small monthly amount, easy to manage and long term preservation of wealth....
enough reason or not huh? the above are all totally made up by me hor... if similar to your case, its purely accidental...pai seh pai seh... :D
To add on, many fictitious couples below 40 who bought their flats around 10 years back have more or less fully cashed their flats. They have enough to either buy another unit, rent out their HDB and service their loan. Or sell their HDB and do capital repayment. Either way, they feel quite safe.
Some unfortunate fictitious young couples who own HDB also inherited another HDB due to parents died. So they had the dilemma to sell their parents' flat and either have to put inside to bank to gain huge interests or buy another property or go into the stock market now.
Geylang OKT
21-08-11, 06:42
Back in 2007....
BRAVO Building Construction group, which bought Tulip Garden and Pender Court a few months back, has now clinched Makeway View in the Newton area for $162.8 million through a collective sale.
The price works out to a land cost of $1,583 per square foot (psf) of potential gross floor area including an estimated $21.5 million development charge (DC).
The breakeven cost for a new project on the site will be about $2,100 psf, a Bravo spokeswoman said.
‘We’re planning about 70-80 loft apartments, with sizes ranging from 1,500 sq ft to 1,800 sq ft,’ she said. ‘The project, which could be about 23-24 storeys high, may be ready for launch around Q3 or Q4 next year.’
Makeway View is on a freehold site of 41,582 sq ft that is designated for residential use with a 2.8 plot ratio under Master Plan 2003.
Knight Frank brokered the sale through a private treaty after a tender that closed last month.
The deal is subject to approval by the Strata Titles Board.
The buyer is Makeway Residences Pte Ltd, which is related to Bravo Building Construction.
‘At the purchase price of $162.8 million, Makeway View owners will receive gross sale proceeds of about $3.7 million to $10.4 million per unit,’ Knight Frank said yesterday.
Makeway View’s existing 32 apartments and penthouses range in size from 1,442 sq ft to 5,307 sq ft.
Bravo’s spokeswoman also told BT the group plans to develop the freehold Pender Court site off West Coast Highway, which it bought in July, into 48 cluster terrace housing units.
‘We’re in discussions with an overseas fund which is keen on buying the entire development for about $180 million, or about $3.8 million per unit on average,’ she said. ‘Each house will come with a private pool.’
Bravo’s acquisition of Tulip Garden, also in July, was for $516 million or $1,018 psf per plot ratio. No DC is payable.
Bravo is a five-year-old property and construction outfit that has bought more than a dozen sites in Singapore since September last year, including Castle Court on Changi Road, Regent Court in Serangoon and Koon Seng House in the Still Road area.
Geylang OKT
21-08-11, 06:43
What happened next....
LOOKING for a silver lining when nothing looms but storm clouds may seem a futile exercise.
But recent events surrounding the failed collective sales of Tulip Garden and Makeway View to Bravo Building Construction may just be a ray of hope in an increasingly gloomy property market.
To be sure, when Bravo decided it could no longer proceed with the collective-sale deals, some considered it yet another in a series of ominous events signalling the end of 'irrational exuberance' in the property market here.
Another was the pullout of Kuwait Finance House from a deal to buy 97 units at Goodwood Residence.
But putting a positive spin on the failed deals, Bravo has actually helped the market by withdrawing almost 400 potential units from future supply. If the Bravo deal to acquire another en bloc site (Pender Court) falls through, the number of potential units removed from future supply could be closer to 500.
This may be less than 3 per cent of the 17,800 new units CB Richard Ellis estimates could be launched this year, but if more developers were to follow Bravo's move, enough potential units could be removed from the future market to mitigate a more serious oversupply situation - especially in the light of drastically falling sales; only 185 new private homes were sold in February.
Emergency exit
Any developer considering the emergency exit that Bravo took will have to ask itself - as Bravo probably did - whether it has the holding power to build and hang on to units until it is profitable to sell them.
Perhaps the pivotal number to emerge in the failed Tulip Garden deal is the $25.8 million figure representing the 5 per cent deposit on the $516 million transaction that Bravo will now forfeit.
While $25.8 million is no small sum to lose, it is probably less than what Bravo could have lost had it proceeded.
Based on a loan quantum of 60-70 per cent of the land price, the loan for the Tulip Garden project would have amounted to $310-$360 million.
While it is not unusual for a bank to extend loans to preferred developers at interest rates close to Sibor, an interest rate of 5 per cent per annum would have been more likely, considering the times. In which case the cost of the loan could have been between $15.5 million and $18 million for the first year alone. This, also allowing that banks still feel comfortable extending loans of over 50 per cent.
Another loan the developer would have had to take would have been for construction costs. And based on a cost of $400 psf, this would have amounted to about $200 million for the Tulip Garden project. The quantum a bank will lend a developer varies. Assuming Bravo were to have taken a 50 per cent loan, the cost of this would have been around $5 million for the first year based on a 5 per cent interest rate.
Bravo's interest payments for the first year could have totalled $20.5-$23 million.
Developers do not generally borrow more because they expect progress payments from the initial sale of units, which go into a project account, to cover some of the costs.
But falling sales volumes would have made it difficult for Bravo to depend on the project account to finance construction.
Lower selling prices would have been a concern too.
Breaking even
When the market was at its most bullish last year, Bravo had hoped to launch the new development on the Tulip Garden site at around $2,000 psf.
However, the US sub-prime crisis has taken its toll on the market, with neighbouring developments Duet and The Cornwall peaking at around $1,500 and $1,700 psf respectively last October.
It was estimated earlier that Bravo would have to sell all the new units at Tulip Garden for at least $1,500 psf just to break even.
Developers who are likely to be swayed by this line of reasoning to reconsider developing en bloc sites are more likely to be the smaller, newer players in the field.
Based on available data, an estimate by Savills Singapore puts the number of new units from en bloc sites bought by construction companies in 2007 at more than 800, excluding Tulip Garden and Makeway View.
If some of these potential units were to be removed from the future market, supply pressure would be eased.
It would, of course, be much simpler if the potential units from a large en bloc site like Gillman Heights or Tampines Court were removed from the market.
But this is unlikely as it has become almost a mantra that big developers have holding power, even if they are losing money at the same time.
Geylang OKT
21-08-11, 06:46
no effect on them or just because they don't even read the newspapers?
So.... in response to your query, I for one seriously believe some of them really do not read the newspapers or behave like ostriches :scared-4: :scared-3: :doh: :D :D
Geylang OKT
21-08-11, 06:48
Current status..... some folks will have to learn the hard way.....
No takers for Tulip Garden
Friday, Straits Times, 1 April 2011
TULIP Garden was aiming to be the third-biggest collective sale here, with a bumper reserve price of $650 million.
But a final deadline came and went yesterday with no developer signing on the dotted line for the 164-unit Farrer Road condominium. The owners will need to relaunch the tender if they hope to pull off a sale.
The reserve price, if achieved, would be the first collective sale of a freehold site of over $500 million in three years.
Launched in December, the tender for the 316,708 sq ft site closed on Jan 20. Three parties were said to have expressed interest but no bids were made.
Under rules on collective sales, however, 10 weeks is allowed after the tender closes for private treaties to be ironed out. Yesterday was the end of the period.
Mr Karamjit Singh, managing director of Credo Real Estate, the marketing agent for the development, last night confirmed that while the firm was in discussion with developers, no private treaty has been inked within the 10-week period. However, the firm is in negotiations to launch a second tender.
But all is not yet lost even if no deal has been struck.
While the initial tender has now lapsed after the 10 weeks, owners may launch a fresh tender within one year of obtaining the 80 per cent consensus required to mount a sale attempt.
The relaunch, however, has to be at the same reserve price. Tweaking the reserve price would mean having to obtain the 80 per cent support all over again.
Some residents The Straits Times spoke to are not overly concerned at the outcome despite the potential gains. Owners of the apartments, ranging from 1,700 sq ft to 3,400 sq ft, stood to get between $3.14 million and $5.45 million in gross proceeds, Credo earlier said.
Mr Tony Lum, who has been living at Tulip Garden for more than 20 years in a 1,700 sq ft apartment, said that even if no deal is made, he is confident the freehold site can still be sold later, especially with Farrer Road MRT station coming up.
'Now if you try to get a unit of the same size, it's going to be so expensive. I might be getting about $3 million in payout but it won't be as good as my unit. I'm not in a hurry to sell,' he added.
Another resident, however, said that she would be disappointed as she had already purchased another property.
Tulip Garden was actually sold en bloc for $516 million in July 2007, but the deal fell through when the buyers - a consortium led by developer Bravo Building Construction - backed out in 2008, citing trouble raising funds for the purchase.
Experts say the steep asking price might be putting developers off, especially in the light of January's property market cooling measures.
The large number of government land sale sites released - with a faster and fuss-free sales process - has also siphoned capital away from the en bloc market, they add.
Large sites also often come with hefty price tags. Developers may prefer a joint venture purchase so as to share the risk.
Mr Alwyn Low, director of Deans Realtors, said the high expectations of home owners have led to some unrealistic asking prices. However, he expects at least one collective sale of more than $500 million to go through this year.
'There is still buying interest from developers for larger en blocs, but it is a fine balance trying to match that with the expectations of sellers... Smaller en blocs are often more popular with boutique developers,' he added.
Ms Stella Hoh, head of investments at Jones Lang LaSalle, who is marketing the $1.7 billion collective sale of Pine Grove - the tender for which closes on April 19 - said the outcome of mega collective sales should not be painted with a broad brush. 'Each site has its own attributes and developers will evaluate based on their own criteria,' she said.
A quiet has also fallen on other tenders that have closed but are still in the 10-week period. These include Hawaii Tower, Holland Tower, Whitley Heights and Tanglin Shopping Centre.
Hawaii Tower's marketing agent CB Richard Ellis says that it is 'working with a few parties'.
The development in Meyer Road with a $700 million reserve price received no bids when its tender closed in January, but had four parties express interest.
Geylang OKT
21-08-11, 07:06
Moral of story: The writing is already on the wall but some folks either do not grasp the situation or would not face reality.
The current high prices are fuelled by the speculative PRCs who cannot buy in their homeland due to China's restrictions. If these PRCs were to pull out in search of greener pastures... what do you think will happen next.
Also, due to Sporeans clamouring against the FT, the govt has resorted to populist actions and will impose restrictions on the S pass and EP type of FT. So rentals will also go down due to having many properties chasing far fewer FTs.
With the confirmed looming private property oversupply looming up, confirmed govt measures to ramp up building HDB flats and at a faster pace, confirmed govt measures to make HDB an increasing better option (salary cap up to 10k and 12k), confirmed govt measures to reduce the number of FT, confirmed rapidly deteriorating global economy, hmm....
one would really be a property lemming to continue to be bullish and buy at such inflated prices :doh: :doh: :doh: :doh:
stalingrad
21-08-11, 07:22
Folks, don't listen to falsehoods. Yes, inflation is bad, but that doesn't mean you have to buy properties to hedge against it.
Ask yourself, which is worse,
(1) losing 4% of your hard earned money to inflation
(2) losing 30% of your hard earned money to developers, who price properties 30% too high.
I would lose 4% to inflation anytime.
What happened next....
LOOKING for a silver lining when nothing looms but storm clouds may seem a futile exercise.
Better to quote the sauces of your articles, including giving credits to the writer and date of the articles.
People nowadays can borrow to the max on credit cards or pawn their jewelleries. What is property loan at less than 1% interest to them? Owning a condo is a dream for many Singaporeans. It is a status symbol higher than owning a flashy car or branded items that depreciate.
Geylang OKT
21-08-11, 07:54
Back in 2007....
http://www.asiabuilders.com/asiabuilders2011/NewsSingle.aspx?rec_code=23889&ind_ctry_code=conSG
02 November 07 | The Business Times
by Kalpana Rashiwala
BRAVO Building Construction group, which bought Tulip Garden and Pender Court a few months back, has now clinched Makeway View in the Newton area for $162.8 million through a collective sale.
The price works out to a land cost of $1,583 per square foot (psf) of potential gross floor area including an estimated $21.5 million development charge (DC).
The breakeven cost for a new project on the site will be about $2,100 psf, a Bravo spokeswoman said.
‘We’re planning about 70-80 loft apartments, with sizes ranging from 1,500 sq ft to 1,800 sq ft,’ she said. ‘The project, which could be about 23-24 storeys high, may be ready for launch around Q3 or Q4 next year.’
Makeway View is on a freehold site of 41,582 sq ft that is designated for residential use with a 2.8 plot ratio under Master Plan 2003.
Knight Frank brokered the sale through a private treaty after a tender that closed last month.
The deal is subject to approval by the Strata Titles Board.
The buyer is Makeway Residences Pte Ltd, which is related to Bravo Building Construction.
‘At the purchase price of $162.8 million, Makeway View owners will receive gross sale proceeds of about $3.7 million to $10.4 million per unit,’ Knight Frank said yesterday.
Makeway View’s existing 32 apartments and penthouses range in size from 1,442 sq ft to 5,307 sq ft.
Bravo’s spokeswoman also told BT the group plans to develop the freehold Pender Court site off West Coast Highway, which it bought in July, into 48 cluster terrace housing units.
‘We’re in discussions with an overseas fund which is keen on buying the entire development for about $180 million, or about $3.8 million per unit on average,’ she said. ‘Each house will come with a private pool.’
Bravo’s acquisition of Tulip Garden, also in July, was for $516 million or $1,018 psf per plot ratio. No DC is payable.
Bravo is a five-year-old property and construction outfit that has bought more than a dozen sites in Singapore since September last year, including Castle Court on Changi Road, Regent Court in Serangoon and Koon Seng House in the Still Road area.[/QUOTE]
stalingrad
21-08-11, 07:55
Better to quote the sauces of your articles, including giving credits to the writer and date of the articles.
People nowadays can borrow to the max on credit cards or pawn their jewelleries. What is property loan at less than 1% interest to them? Owning a condo is a dream for many Singaporeans. It is a status symbol higher than owning a flashy car or branded items that depreciate.
sauces of your articles? man, did you even graduate from primary school?
Geylang OKT
21-08-11, 07:56
What happened next....
http://www.asiaone.com/Business/My%2BMoney/Property/Story/A1Story20080416-60128.html
Arthur Sim
Tue, Apr 15, 2008
The Business Times
LOOKING for a silver lining when nothing looms but storm clouds may seem a futile exercise.
But recent events surrounding the failed collective sales of Tulip Garden and Makeway View to Bravo Building Construction may just be a ray of hope in an increasingly gloomy property market.
To be sure, when Bravo decided it could no longer proceed with the collective-sale deals, some considered it yet another in a series of ominous events signalling the end of 'irrational exuberance' in the property market here.
Another was the pullout of Kuwait Finance House from a deal to buy 97 units at Goodwood Residence.
But putting a positive spin on the failed deals, Bravo has actually helped the market by withdrawing almost 400 potential units from future supply. If the Bravo deal to acquire another en bloc site (Pender Court) falls through, the number of potential units removed from future supply could be closer to 500.
This may be less than 3 per cent of the 17,800 new units CB Richard Ellis estimates could be launched this year, but if more developers were to follow Bravo's move, enough potential units could be removed from the future market to mitigate a more serious oversupply situation - especially in the light of drastically falling sales; only 185 new private homes were sold in February.
Emergency exit
Any developer considering the emergency exit that Bravo took will have to ask itself - as Bravo probably did - whether it has the holding power to build and hang on to units until it is profitable to sell them.
Perhaps the pivotal number to emerge in the failed Tulip Garden deal is the $25.8 million figure representing the 5 per cent deposit on the $516 million transaction that Bravo will now forfeit.
While $25.8 million is no small sum to lose, it is probably less than what Bravo could have lost had it proceeded.
Based on a loan quantum of 60-70 per cent of the land price, the loan for the Tulip Garden project would have amounted to $310-$360 million.
While it is not unusual for a bank to extend loans to preferred developers at interest rates close to Sibor, an interest rate of 5 per cent per annum would have been more likely, considering the times. In which case the cost of the loan could have been between $15.5 million and $18 million for the first year alone. This, also allowing that banks still feel comfortable extending loans of over 50 per cent.
Another loan the developer would have had to take would have been for construction costs. And based on a cost of $400 psf, this would have amounted to about $200 million for the Tulip Garden project. The quantum a bank will lend a developer varies. Assuming Bravo were to have taken a 50 per cent loan, the cost of this would have been around $5 million for the first year based on a 5 per cent interest rate.
Bravo's interest payments for the first year could have totalled $20.5-$23 million.
Developers do not generally borrow more because they expect progress payments from the initial sale of units, which go into a project account, to cover some of the costs.
But falling sales volumes would have made it difficult for Bravo to depend on the project account to finance construction.
Lower selling prices would have been a concern too.
Breaking even
When the market was at its most bullish last year, Bravo had hoped to launch the new development on the Tulip Garden site at around $2,000 psf.
However, the US sub-prime crisis has taken its toll on the market, with neighbouring developments Duet and The Cornwall peaking at around $1,500 and $1,700 psf respectively last October.
It was estimated earlier that Bravo would have to sell all the new units at Tulip Garden for at least $1,500 psf just to break even.
Developers who are likely to be swayed by this line of reasoning to reconsider developing en bloc sites are more likely to be the smaller, newer players in the field.
Based on available data, an estimate by Savills Singapore puts the number of new units from en bloc sites bought by construction companies in 2007 at more than 800, excluding Tulip Garden and Makeway View.
If some of these potential units were to be removed from the future market, supply pressure would be eased.
It would, of course, be much simpler if the potential units from a large en bloc site like Gillman Heights or Tampines Court were removed from the market.
But this is unlikely as it has become almost a mantra that big developers have holding power, even if they are losing money at the same time.
Geylang OKT
21-08-11, 07:59
Moral of story: The writing is already on the wall but some folks either do not grasp the situation or would not face reality.
The current high prices are fuelled by the speculative PRCs who cannot buy in their homeland due to China's restrictions. If these PRCs were to pull out in search of greener pastures... what do you think will happen next.
Also, due to Sporeans clamouring against the FT, the govt has resorted to populist actions and will impose restrictions on the S pass and EP type of FT. So rentals will also go down due to having many properties chasing far fewer FTs.
With the confirmed looming private property oversupply looming up, confirmed govt measures to ramp up building HDB flats and at a faster pace, confirmed govt measures to make HDB an increasing better option (salary cap up to 10k and 12k), confirmed govt measures to reduce the number of FT, confirmed rapidly deteriorating global economy, hmm....
one would really be a property lemming to continue to be bullish and buy at such inflated prices :doh: :doh: :doh: :doh:
Property lemmings die pain! pain! :D :D :D
This is my style :tongue1: :tongue1:
You don't have to graduate from primary school here. You just take your PSLE, get the results and off you go to the secondary school here :p
Geylang OKT
21-08-11, 08:01
Better to quote the sauces of your articles, including giving credits to the writer and date of the articles.
People nowadays can borrow to the max on credit cards or pawn their jewelleries. What is property loan at less than 1% interest to them? Owning a condo is a dream for many Singaporeans. It is a status symbol higher than owning a flashy car or branded items that depreciate.
Done.... so you want spaghetti sauce or barbeque sauce to go with it? :D :D :D :D
Property lemmings die pain! pain! :D :D :D
I support you! When property crashes, I can grab another one FH landed cheaply :)
Geylang OKT
21-08-11, 08:04
I support you! When property crashes, I can grab another one FH landed cheaply :)
Ok! No $100psf No Buy! :D :D :D
Done.... so you want spaghetti sauce or barbeque sauce to go with it? :D :D :D :D
Haha no need. There could be some property reporters in this forum who might had written the articles quoted. Just in case they make some noises here.
stalingrad
21-08-11, 09:17
Done.... so you want spaghetti sauce or barbeque sauce to go with it? :D :D :D :D
this is the same person that spelled "sought after" "sort after". He can't pronounce the word properly, and that explains why he can't spell it.
Singaporean pronounce "source" and "sauce" the same way, and now they spell them the same way too.
singapores pronounce "sort" and "sought" the same way, and now they spell them the same way too.
I think you guys better stick to your chinese.
this is the same person that spelled "sought after" "sort after". He can't pronounce the word properly, and that explains why he can't spell it.
Singaporean pronounce "source" and "sauce" the same way, and now they spell them the same way too.
singapores pronounce "sort" and "sought" the same way, and now they spell them the same way too.
I think you guys better stick to your chinese.
Following British pronunciation, the words you mentioned are homophones. Check http://dictionary.cambridge.org
It's the Americans who pronounce words wrongly and use the English language incorrect. E.g. coffee becomes cawfee, they use the word fortnightly interchangeably with the word bi-weekly, lie in the bed becomes lay on the bed :doh: .
We study British English in school here, not American English.
Anyway, when I type Chinese, I sometimes choose the wrong word :o. But people in China still know what I mean. So, no need to be so anal.
I received an SMS from an agent a few days ago on shophouses on sale:
1) Sembawang - S$3M FH 2sty 1000/1700 SF near Khatib camp.
2) East Coast - S$3M FH 2 sty 1000/1700 SF opp Roxy Sq.
3) Tg Katong - $3M FH 2 sty 1350/2200 SF near famous Punggol Nasi Lemak
4) HDB Shophouse @ Clementi - S$7.5M, Bal 66 yrs, approx 4000 SF and 10 mins to MRT & Clementi Mall.
The one that caught my eyes was No. 4 which has balance of 66 yrs! :scared-4:
Evergreen relax my friend... ;) Stalingrad is a celebrity here and his style is well known ;)
Back to topic. Pty prices cannot defy logic. If STI drops to 1### , do you think ppl still have the guts to enter market ? All those ppl waiting for a dip to enter will not enter, regardless of the price. So a correction is inevitable. However, thanks to low interest rate and MBT's lending restriction measures, many may not need to firesale. So a crash is probably not likely either. The brave ones will fish for value buys at this moment. ;)
flagship74
21-08-11, 10:41
Evergreen relax my friend... ;) Stalingrad is a celebrity here and his style is well known ;)
Back to topic. Pty prices cannot defy logic. If STI drops to 1### , do you think ppl still have the guts to enter market ? All those ppl waiting for a dip to enter will not enter, regardless of the price. So a correction is inevitable. However, thanks to low interest rate and MBT's lending restriction measures, many may not need to firesale. So a crash is probably not likely either. The brave ones will fish for value buys at this moment. ;)
if that the case..agents might be affected in some extend. gd 6:D
linchong84
21-08-11, 10:45
Evergreen relax my friend... ;) Stalingrad is a celebrity here and his style is well known ;)
Back to topic. Pty prices cannot defy logic. If STI drops to 1### , do you think ppl still have the guts to enter market ? All those ppl waiting for a dip to enter will not enter, regardless of the price. So a correction is inevitable. However, thanks to low interest rate and MBT's lending restriction measures, many may not need to firesale. So a crash is probably not likely either. The brave ones will fish for value buys at this moment. ;)
If STI drops to 1xxx, it is a crash.. Many people will chalk up huge losses and hold huge debts.. Many will be in a hurry to dispose of their assets.. That's how firesales come about..
And for a 1xxx STI to happen, many jobs should be lost also.. No job or 50% paycut will cause some to dispose their properties too..
If correction, little or no firesale.. If crash, property market sure crash deep deep..
And honestly, if stock/property market crashes, those with a good investment mind, will not buy properties unless they love to stay there.. If STI drop to 1xxx, the investor with many bullets or missiles can just choose a fundamentally-solid blue chip and easily reap 3-4 folds when economy recovers. Property is slower and offer less returns..
Evergreen relax my friend... ;) Stalingrad is a celebrity here and his style is well known ;)
I can tell. ;) That's why my response was just factual. No thanks to people who don't check before insisting that they are right, people in Europe and Australia/NZ don't understand what Singaporeans are saying.
Back to topic. Pty prices cannot defy logic. If STI drops to 1### , do you think ppl still have the guts to enter market ? All those ppl waiting for a dip to enter will not enter, regardless of the price. So a correction is inevitable. However, thanks to low interest rate and MBT's lending restriction measures, many may not need to firesale. So a crash is probably not likely either. The brave ones will fish for value buys at this moment. ;)
Agree that people waiting for a dip will not enter the market during the dip.
But I won't say a correction is inevitable. Because we have to consider whether there are others who are still buying regardless of price will outnumber the ones that will talk all day and never buy.
sauces of your articles? man, did you even graduate from primary school?
Oh no, you never learn! If I were you, I will keep quiet on other's english if I myself make error. There are many spelling errors you made in this forum which nobody bother to comment at all.
Haha, you made me laugh so hard, I almost threw up. If you were right, then why don't you live on jurong island, or live in a garbage incinarator. Come to think of it, why don't you live in a lab with SARs virus, since, according to you, there are no variations across parts of Singapore in terms of air quality.
Haha, only naive people like you can make statements like that. Just go compare air quality between a bus depot and the botanic garden. there will be a big variation. anyone would know that.
If STI drop to 1xxx, the investor with many bullets or missiles can just choose a fundamentally-solid blue chip and easily reap 3-4 folds when economy recovers. Property is slower and offer less returns..
agree on this. the stock returns 3-4folds,and properties are lagging behind as it take months to lodge a higher caveat.
Property lemmings die pain! pain! :D :D :D
Perhaps the oldest trade is the best recession-proof business of all times.
Just saw an article last night that Gu QingLou(古青楼 (http://book1.dic123.com/detail_43eacf16-340d-4fe8-a6fe-b969d92e63ba.html)) opens in Macau and Cai Lan is rather happy that his dream is fulfilled. Maybe you can consider opening one in Singapore.
http://blog.omy.sg/wbnews/
Perhaps the oldest trade is the best recession-proof business of all times.
Just saw an article last night that Gu QingLou(古青楼 (http://book1.dic123.com/detail_43eacf16-340d-4fe8-a6fe-b969d92e63ba.html)) opens in Macau and Cai Lan is rather happy that his dream is fulfilled. Maybe you can consider opening one in Singapore.
http://blog.omy.sg/wbnews/
DON'T scroll down to the 2nd picture. :tsk-tsk:
The biggest difference probably between SG and other countries is when economic is going downhill, SG properties are still selling like hot cakes and developers are pushing projects after projects at record prices and buyers are still packing the showflats! Amazing, isn't it? Even when figures all across the globe are showing red, Singaporeans are oblivious or ignorant! Hmmm... interesting to watch how long this trend, rally, whatever you call it, will persist! :D
My take on this is: Money has to flow somewhere. When US prints more money, it will flow out of their country to somewhere else. The world is not going to have recession at the same time. Somewhere will prosper during this period. Likewise, if ordinary folks like us don't put money in the bank because interest is pathetic, where would we put it in? :2cents:
this is the same person that spelled "sought after" "sort after". He can't pronounce the word properly, and that explains why he can't spell it.
Singaporean pronounce "source" and "sauce" the same way, and now they spell them the same way too.
singapores pronounce "sort" and "sought" the same way, and now they spell them the same way too.
I think you guys better stick to your chinese.
You are an interesting character. I still stick to my sauce haha :D
:tongue1: :tongue1: :tongue1: :tongue1: :tongue1: :tongue1: :tongue1: :tongue1: :tongue1: :tongue1: :tongue1: :tongue1:
this (This) is the same person that(who) spelled "sought after" (as) "sort after". He can't (cannot)pronounce the word properly,(no comma needed) and that explains why he can't(cannot) spell it.
Singaporean (Singaporeans) pronounce "source" and "sauce" the same way, (no comma needed)and now they spell them the same way too.
singapores(Singaporeans) pronounce "sort" and "sought" the same way,(no comma needed) and now they spell them the same way too.
I think you guys better (should just) stick (adhere) to your chinese(Chinese language).
May I humbly make some corrections (in brackets) to your post above?
Wah forum became english class.:scared-3:
like that very stress leh, have to check and recheck before posting....:tongue3:
England not so powerful leh....:(
flagship74
21-08-11, 20:27
Wah forum became english class.:scared-3:
like that very stress leh, have to check and recheck before posting....:tongue3:
England not so powerful leh....:(
headache leh..england not powerful cannot post liao?:doh:
Walau eh!! I hokkien peng now stress sia... my england also sibeh jialet:scared-3:
buttercarp
21-08-11, 21:36
May I humbly make some corrections (in brackets) to your post above?
Mr fclim, you English teacher?
Your england very powderful!
kingkong1984
21-08-11, 22:05
Wah... Asian Shag Ang Mo.... ahem... Shame can?
May I humbly make some corrections (in brackets) to your post above?
it don't matter to score in language, or posts. most importantly we must score in life, isn't it??:cheers1: :cheers1: :cheers1:
Geylang OKT
21-08-11, 23:25
it don't matter to score in language, or posts. most importantly we must score in life, isn't it??:cheers1: :cheers1: :cheers1:
You want to score, pay $50 for my fish tank variety types and take your pick :D :D :D
Regulators
21-08-11, 23:45
Singaporeans revolutionise and economise the English language and we speak unpretentiously and unreservedly about the things we feel in a diverse range of ways (including the use of other languages apart from English) as and when we deem necessary to convey certain moods and emotions limited to so-called native english speakers like you. Days of cumbersome English will soon be over in Singapore, not that we do not know grammar or the right pronunciation but because we choose to use the English language the way we like and to our convenience. Please don't come here to teach us English coz you are effectively still stuck in your monolingual world when we have evolved to use English in conjunction with a myriad of languages. England had colonised so many countries in the past but the sad truth is they have learnt nothing till this day of the cultures and civilisations of the countries they once ruled over. :doh:
this is the same person that spelled "sought after" "sort after". He can't pronounce the word properly, and that explains why he can't spell it.
Singaporean pronounce "source" and "sauce" the same way, and now they spell them the same way too.
singapores pronounce "sort" and "sought" the same way, and now they spell them the same way too.
I think you guys better stick to your chinese.
it don't matter to score in language, or posts. most importantly we must score in life, isn't it??:cheers1: :cheers1: :cheers1:
Hehe.. Just dun score own goals..:D
You want to score, pay $50 for my fish tank variety types and take your pick :D :D :D
Someone here told me your varieties come packaged with armpit hair. Is that the reason why it costs $50? :D
So is it because property prices are not falling that we are quick to distract ourselves with learning English as well as talking about Geylang OKT's chicks? LOL! :D
So if double dip is not coming, what can we expect from these couple of weeks' ups and downs?
Geylang OKT
22-08-11, 07:08
Someone here told me your varieties come packaged with armpit hair. Is that the reason why it costs $50? :D
Well..... for an extra $20, you are welcome to help pluck out our fish tank girls' armpit hair strand by strand ;) ;) ;)
I assure you, it's value for money :D :D :D
Geylang OKT
22-08-11, 07:11
So is it because property prices are not falling that we are quick to distract ourselves with learning English as well as talking about Geylang OKT's chicks? LOL! :D
So if double dip is not coming, what can we expect from these couple of weeks' ups and downs?
Hmm..... :D :D :D
Some good launches near MRT are coming up. We are near year end bonus period also. HDB resales and rental markets are exceptionally good these few years, and will continue to be so for the next 2 years. HDB has launched 25k of new HDBs in 2011 and will be launching another 25k for 2012 [1]. We are also launching new MRT lines, building Jurong Lake District, Marina Bay Financial District and Paya Lebar Central. I expect the pte property prices of new launches here to maintain or go up in the short term due to constraints in manpower, equipment and materials (and land!).
Our trade figures (2/3 of total trade are in Asia) and export market (2/3 of total export are also in Asia) are relatively strong due to population growth and urbanization [2]. Growths in Asia are generally projected to be healthy in 2011 and 2012. [3]
My opinion is we are in an era of inflation over the next few years. I welcome alternative opinions for discussion :)
Ref:
[1] http://www.hdb.gov.sg/fi10/fi10296p.nsf/PressReleases/3F7F3B2BDD45CE64482578ED0009B240?OpenDocument
[2] http://www.singstat.gov.sg/pubn/reference/yos11/statsT-trade.pdf
[3] http://www.imf.org/external/pubs/ft/survey/so/2011/car042711A.htm
Some good launches near MRT are coming up. We are near year end bonus period also. HDB resales and rental markets are exceptionally good these few years, and will continue to be so for the next 2 years. HDB has launched 25k of new HDBs in 2011 and will be launching another 25k for 2012 [1]. We are also launching new MRT lines, building Jurong Lake District, Marina Bay Financial District and Paya Lebar Central. I expect the pte property prices of new launches here to maintain or go up in the short term due to constraints in manpower, equipment and materials (and land!).
Our trade figures (2/3 of total trade are in Asia) and export market (2/3 of total export are also in Asia) are relatively strong due to population growth and urbanization [2]. Growths in Asia are generally projected to be healthy in 2011 and 2012. [3]
My opinion is we are in an era of inflation over the next few years. I welcome alternative opinions for discussion :)
Ref:
[1] http://www.hdb.gov.sg/fi10/fi10296p.nsf/PressReleases/3F7F3B2BDD45CE64482578ED0009B240?OpenDocument
[2] http://www.singstat.gov.sg/pubn/reference/yos11/statsT-trade.pdf
[3] http://www.imf.org/external/pubs/ft/survey/so/2011/car042711A.htmDepending on which industry you are in. I don't suppose every industry has bonuses this year end, less fat ones! :p
phantom_opera
22-08-11, 11:36
Tan Jee Say's 500k salary offer definitely is an alarming idea to PAP elites :D Can he be arrested under ISA? :scared-4:
Ok, enough said, no more politics.
Back to economy, market is looking at Fed's Friday's meeting .... better give positive QE3 hints earlier
Tan Jee Say's 500k salary offer definitely is an alarming idea to PAP elites :D Can he be arrested under ISA? :scared-4:
Ok, enough said, no more politics.
Back to economy, market is looking at Fed's Friday's meeting .... better give positive QE3 hints earlier
Which one will come out first? QE3 hint or the salary review?
Someone here told me your varieties come packaged with armpit hair. Is that the reason why it costs $50? :D
since when does it cost $50? not $40 for fish tank varieties?
Tan Jee Say's 500k salary offer definitely is an alarming idea to PAP elites :D Can he be arrested under ISA? :scared-4:
Ok, enough said, no more politics.
Back to economy, market is looking at Fed's Friday's meeting .... better give positive QE3 hints earlier
lucky for TJS president's salary tax free.
if have to giveaway $3.5mil and still have to pay income tax for full amount of $4mil...
lucky for TJS president's salary tax free.
if have to giveaway $3.5mil and still have to pay income tax for full amount of $4mil...
Sekali pay review commision say President's pay should be $400k only. then how? haha... can be a "self snook". too quick and shoot from the hip...
Which one will come out first? QE3 hint or the salary review?QE doesn't solve the root problem... sigh! Why still must have QE3? :doh:
Tan Jee Say's 500k salary offer definitely is an alarming idea to PAP elites :D Can he be arrested under ISA? :scared-4:
Ok, enough said, no more politics.
Back to economy, market is looking at Fed's Friday's meeting .... better give positive QE3 hints earlier
chances of QE3 quite slim. where is proud owner??? he might have some "news"
kingkong1984
22-08-11, 14:01
chances of QE3 quite slim. where is proud owner??? he might have some "news"
QE3 is coming by Nov 2012.
My humble guess...
Sing Dollar will be 1:1 to US dollar...
My humble guess again.
QE doesn't solve the root problem... sigh! Why still must have QE3? :doh:
QE doesnt solve root cause but it does have the effect to push up the mkt, even short term. beside QE nothing else can excite the mkt anymore. w/o QE mkt will continue to go crazy.
kingkong1984
22-08-11, 14:07
QE doesnt solve root cause but it does have the effect to push up the mkt, even short term. beside QE nothing else can excite the mkt anymore. w/o QE mkt will continue to go crazy.
Its a desperate move...
It has to be done.
It will be done.
QE3 is coming by Nov 2012.
My humble guess...
Sing Dollar will be 1:1 to US dollar...
My humble guess again.
My guess is it will not be called QE3 but it will have the effect of creating 'feel good' effect among the voters in 2012 to boost spending and cause US property and stock market to temporarily recover. It could be something like our own precinct upgrading programmes and announcement of MRT stations etc before election. I estimate the time frame around Q2 2012 so that the effects are more visible by Q4 2012 when the election is due.
kingkong1984
22-08-11, 14:13
Hey u know what? Can US do anything else? Cut spending? Raise Tax? throw you some freebies? Really doubt so leh.
Even if so, feel good only for a while, after that cooling measures leh or kanna cooled..
We also like that right?
Its a desperate move...
It has to be done.
It will be done.
so is it good to buy and hold some stock while waiting for QE3 :D
Hey u know what? Can US do anything else? Cut spending? Raise Tax? throw you some freebies? Really doubt so leh.
Even if so, feel good only for a while, after that cooling measures leh or kanna cooled..
We also like that right?
Perhaps that's why the QE3 has not been announced yet. Later all cooled down before the US election in Nov 2012.
Perhaps that's why the QE3 has not been announced yet. Later all cooled down before the US election in Nov 2012.Timing is probably the most crucial thing now. That is why so many forumers are projecting 2013 as the year or reckoning for our world economy. US default delayed till 2013, EU debtors may also default right about that time. All waiting to catch the falling durians. Just be careful not to be pierced by these dangerous falling objects! :o
QE doesn't solve the root problem... sigh! Why still must have QE3? :doh:
QE is never the solution to the root problem, however, can you imagine where we would be if there had been no QE1?
People criticize QE2 for not bring us to anywhere, however, without QE2, most likely we would be in a much worse shape now. To some extent QE2 prevent the world economy from further deteriorating
QEs are never the solution to the fundamental problems, but it does buy some time for US to find the real solution
Whether the US politicians can find one with perfect execution is another matter
Some sign of cooling?
The Seaview #04-09, 3 bedder
THE SEA VIEW AMBER ROAD Condominium 1 1,932,500 1,410 Strata 1,370 Jul-11
Some sign of cooling?
The Seaview #04-09, 3 bedder
THE SEA VIEW AMBER ROAD Condominium 1 1,932,500 1,410 Strata 1,370 Jul-11
I am not superstitious but this house number a bit unfortunate leh... thinking of resale point of view. This unit number may be hard to re-sell.
Some sign of cooling?
The Seaview #04-09, 3 bedder
THE SEA VIEW AMBER ROAD Condominium 1 1,932,500 1,410 Strata 1,370 Jul-11
This is a very lousy unit, facing the main road and BBQ pit
i remember viewing this unit, seller say will not sell below $1450psft...
so i guess he was bluffing....
yeah, that's a lousy facing unit and its on the 4th floor. all they'll see is will be silversea in future.
QE is never the solution to the root problem, however, can you imagine where we would be if there had been no QE1?
People criticize QE2 for not bring us to anywhere, however, without QE2, most likely we would be in a much worse shape now. To some extent QE2 prevent the world economy from further deteriorating
QEs are never the solution to the fundamental problems, but it does buy some time for US to find the real solution
Whether the US politicians can find one with perfect execution is another matterThis Friday Ben announcing his proposed measures to aid the ailing US economy. What do you think he'll say huh? :D More money coming into our economy? :p
This Friday Ben announcing his proposed measures to aid the ailing US economy. What do you think he'll say huh? :D More money coming into our economy? :p
I have no idea what he will say on Fri. Being only a monetary measure, QEs can only buy time. QE2 is not withdrawn from the market yet so the liquidity is not really the issue. What dominates the market now are the uncertainty and fear. I guess he may say something to reassure the market that the Fed will take all the necessary actions promptly whenever there is a need. Don't think he will make any explicit commitments so soon in addition to the one of keeping interest rate low until 2013.
The key to me is actually to bring the confidence back to US households and SMEs for them to spend and hire within their means to keep the economy rolling. It is time to overhaul the fiscal policy to devise a real solution which shall come from President Obama
I have no idea what he will say on Fri. Being only a monetary measure, QEs can only buy time. QE2 is not withdrawn from the market yet so the liquidity is not really the issue. What dominates the market now are the uncertainty and fear. I guess he may say something to reassure the market that the Fed will take all the necessary actions promptly whenever there is a need. Don't think he will make any explicit commitments so soon in addition to the one of keeping interest rate low until 2013.
The key to me is actually to bring the confidence back to US households and SMEs for them to spend and hire within their means to keep the economy rolling. It is time to overhaul the fiscal policy to devise a real solution which shall come from President ObamaThe world is really in a turmoil. The S&P head resigning next month... after downgrading US status? Hmm... Where to park cash? Don't think gold is anymore viable after those alarming surges. FD? Another property? :confused:
The world is really in a turmoil. The S&P head resigning next month... after downgrading US status? Hmm... Where to park cash? Don't think gold is anymore viable after those alarming surges. FD? Another property? :confused:
put in stocks lah....
accumulate slowly..... pick carefully....
so many choices actually....
put in stocks lah....
accumulate slowly..... pick carefully....
so many choices actually....Stocks are currently too volatile, swinging from one end of the pendulum to the other like nobody's business! :scared-3: Gradual increment is probably the best option but think I'll just wait awhile more and see what's going on in next couple of weeks or months before committing with a longer view! In the mean time, must catch up on sleep! :sleep:
stocks are liquid, u can run if things go bad.... and if u pick correctly, like telcoms, utilities, transportation, they are not volatile and provide very good dividend...
not sure why you are looking to buy properties now considering this sector is at its peak with govt trying to cool it down with plenty of measures and the impending supply boom in the next 3yrs?
stocks are liquid, u can run if things go bad.... and if u pick correctly, like telcoms, utilities, transportation, they are not volatile and provide very good dividend...
not sure why you are looking to buy properties now considering this sector is at its peak with govt trying to cool it down with plenty of measures and the impending supply boom in the next 3yrs?Not trying to buy properties yet. Now is not the ideal time to enter for investment. Waiting by the side and watching carefully! :D Telcom sounds ok. Airline?
Not trying to buy properties yet. Now is not the ideal time to enter for investment. Waiting by the side and watching carefully! :D Telcom sounds ok. Airline?
Why not just park your cash in FD?
Actually, I do think that investing in stock now is not a bad idea if have spare cash. No need to show hand for one big shot but enter in phases to average up or down the costs and be patient.
As for properties, unless seeing something I really really like, I will wait until next year the earliest to buy for investment. I feel that people are still looking to buy, mostly for own-stay, but are more cautious. Property price may still go up due to low interest rate, but very unlikely it will run away if it does go up. Still get chance to jump in if see the boat is leaving but this scenario is not going to happen very soon, I reckon
Why not just park your cash in FD?
Actually, I do think that investing in stock now is not a bad idea if have spare cash. No need to show hand for one big shot but enter in phases to average up or down the costs and be patient.
As for properties, unless seeing something I really really like, I will wait until next year the earliest to buy for investment. I feel that people are still looking to buy, mostly for own-stay, but are more cautious. Property price may still go up due to low interest rate, but very unlikely it will run away if it does go up. Still get chance to jump in if see the boat is leaving but this scenario is not going to happen very soon, I reckon
agree with you fully.... from the cash i made from my sale, i am entering into equities, slowly and selectively... because they have fallen not 10% but some by 20%. but will never go all in as i am still looking for the next place for own stay, so some bullets must be available for that OTP. :D
from my viewings so far, there are a lot of ppl with huge portfolios in properties and i noticed already some are diversifying now, switching to commercial/retail or some to equities. so the barganing process starts at least ....
Why not just park your cash in FD?
Actually, I do think that investing in stock now is not a bad idea if have spare cash. No need to show hand for one big shot but enter in phases to average up or down the costs and be patient.
As for properties, unless seeing something I really really like, I will wait until next year the earliest to buy for investment. I feel that people are still looking to buy, mostly for own-stay, but are more cautious. Property price may still go up due to low interest rate, but very unlikely it will run away if it does go up. Still get chance to jump in if see the boat is leaving but this scenario is not going to happen very soon, I reckonAgreed! I already parked in FD and will take the small profit out upon maturity to subsidize my year end holiday! I may not make huge money but certainly not incur any losses as some investors have in the current highly volatile market! Next year then re-evaluate my position and portfolio again! :D
buttercarp
23-08-11, 18:59
Luxus hills latest transaction for 1615 sq ft is 2.3 mil.
Luxus Hills are all >3000sqft.
Is there such unit only 1615sqft?
buttercarp
23-08-11, 19:09
Luxus Hills are all >3000sqft.
Is there such unit only 1615sqft?
I am talking about the land area.
1615 sq ft is the inter- terrace units.
I am talking about the land area.
1615 sq ft is the inter- terrace units.Good to know its 2.3 and not 2.5mil. Waiting for 2013 when it should have TOP and developer haven't finish selling their final phase and prices come crashing down to 1.8mil again... :D
buttercarp
29-08-11, 18:42
Resale Property prices inch up at slower pace of 0.2% in July .
http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_707197.html
By Cheryl Lim
Resale property prices in Singapore have grown but at a slower pace of 0.2 per cent in July.
This is according to flash estimates from the Singapore Residential Price Index, which monitors the transactions of non-landed completed projects.
Compiled by the National University of Singapore, revised figures showed that property prices grew at a higher rate of 0.7 per cent in June.
The index also indicated that prices for small units - homes with a floor area of 506 square feet or less - have risen slightly, up 1.4 per cent in July.
Singapore is weird, isn't it? When you expect numbers to fall in uncertain times, they rise! :cheers1:
kingkong1984
29-08-11, 22:06
Singapore is weird, isn't it? When you expect numbers to fall in uncertain times, they rise! :cheers1:
The invisible hands...
Developer playing musical chairs.
Singapore is weird, isn't it? When you expect numbers to fall in uncertain times, they rise! :cheers1:
Despite the data showing slow down in price increment, I believe psf is still increasing at a faster pace, as developers are cutting back on quality finishing like using laminated flooring and down sizing facilities like car park lots, swimming pools etc.
buttercarp
29-08-11, 22:13
Singapore is weird, isn't it? When you expect numbers to fall in uncertain times, they rise! :cheers1:
We are a blessed nation.
We are a blessed nation.
... punching well above our weight?... :scared-2:
Jonathan0503
29-08-11, 22:33
The invisible hands...
Developer playing musical chairs.
This is about increase in price of resale. So nothing to do with developer right?
... punching well above our weight?... :scared-2:
Haha... punching above our weight in property price is not a good thing.
buttercarp
29-08-11, 22:48
This is about increase in price of resale. So nothing to do with developer right?
Slow motion musical chairs cos of SSD.
This is about increase in price of resale. So nothing to do with developer right?Not directly at least. It is precisely because these pratially crazy developers selling new launches at :scared-1: prices, creating records after records that the resale market inevitably become beneficiary. Owners selling at ridiculous prices because their neighboring plot is asking higher psf??? :scared-4:
Slice the developers and calm the market! :cool:
Not directly at least. It is precisely because these pratially crazy developers selling new launches at :scared-1: prices, creating records after records that the resale market inevitably become beneficiary. Owners selling at ridiculous prices because their neighboring plot is asking higher psf??? :scared-4:
Slice the developers and calm the market! :cool:
Launches in Jun-Jul were relatively muted. Developers are going to raise psf for new launches... Unfortunately/fortunately we could see a spike in psf in the next few months.
Ghost month over, Dow up strongly last nite, some developers will be rolling out their projects and testing new High..., if sentiments is weak, at most developers give some early bird discount or furniture vouchers but they will maintain high or even higher psf....:2cents:
Stocks End Near Session Highs, Led by Banks
Published: Monday, 29 Aug 2011 | 4:20 PM ET Text Size
By: JeeYeon Park
CNBC.com Writer
Stocks closed near session highs Monday, fueled by a merger between two big Greek banks, a better-than-expected personal spending report and as the damage from Hurricane Irene over the weekend was less than feared.
MAJOR U.S. INDEXES
.DJIA11539.25
254.71+2.26%
.NCOMP2562.11
82.26+3.32%0
.SPX1210.08
33.28+2.83%0
*
The Dow Jones Industrial Average soared 254.71 points, or 2.26 percent, to finish at 11,539.25. BofA [BAC* 8.39* * 0.63* (+8.12%) * ] and Hewlett-Packard [HPQ* 26.12* * 1.30* (+5.24%) * ] led the blue-chip gainers, while Home Depot [HD* 33.99* * -0.01* (-0.03%) * ] was the only laggard on the index.
The S&P 500 surged 33.28 points, or 2.83 percent, to end at 1,210.08, above the critical 1,207-level that traders closely track.
kingkong1984
30-08-11, 11:01
Remember, developer has unsoLd units not subject to SSD.
New launches high high, their smiles big big.
Remember, developer has unsoLd units not subject to SSD.
New launches high high, their smiles big big.
the SSD is based on the S&P date and not based on the project
kingkong1984
30-08-11, 11:28
the SSD is based on the S&P date and not based on the project
Obviously u r not familiar with exemptions.
http://www.iras.gov.sg/irasHome/page04.aspx?id=10204
Obviously u r not familiar with exemptions.
http://www.iras.gov.sg/irasHome/page04.aspx?id=10204
Foreigners need not pay SSD when they have to sell their residential properties as required under the Residential Properties Act.
Does this mean permanent residents need not pay SSD??
the SSD is based on the S&P date and not based on the project
He's trying to be cute. "DEVELOPERs" never pay anything :cool:
kingkong1984
30-08-11, 12:05
It's not by PR or not. PR are considered locals right.
The exemption are guidelines, iras will assess and grant. The key distinction is that whether you are required by law to sell or u sell on your own free will.
By law includes matrimonial proceedings, will inheritance etc. If in doubt, better check with authority.
Clearly stated, developers not subject to SSD and transfer between corporate entities with conditions complied to. Favor big boys lah.
Obviously u r not familiar with exemptions.
http://www.iras.gov.sg/irasHome/page04.aspx?id=10204
Housing developers need not pay SSD when selling residential properties developed by them.
ru referring to the above
this refers to the developers need not pay SSD and not the individual buyers
condoinvestor
30-08-11, 13:21
Foreigners need not pay SSD when they have to sell their residential properties as required under the Residential Properties Act.
Anyone familiar with this ACT?
interest + savings is more practical to determine the property trend.
like during the last crisis, dbs probably takes 10% of their deposits to offset loan that has turned bad. and the PPI probably fell more than that.
buttercarp
30-08-11, 13:57
Foreigners need not pay SSD when they have to sell their residential properties as required under the Residential Properties Act.
Anyone familiar with this ACT?
It is Section 7.1 vi
http://www.iras.gov.sg/pv_obj_cache/pv_obj_id_3C84A225FDC4CA32EAA4E256EDE44E80CB740500/filename/SD_Imposition_of_SD_on_Sellers_for_Sale_or_Disposal_of_Residential_Pty_6th_ed.pdf
I think what it means that if a foreigner is asked to sell the property under the Act, then he does not need to pay SSD.
If he sells it out of his free will, then the first 4 years SSD should apply.
It is Section 7.1 vi
http://www.iras.gov.sg/pv_obj_cache/pv_obj_id_3C84A225FDC4CA32EAA4E256EDE44E80CB740500/filename/SD_Imposition_of_SD_on_Sellers_for_Sale_or_Disposal_of_Residential_Pty_6th_ed.pdf
I think what it means that if a foreigner is asked to sell the property under the Act, then he does not need to pay SSD.
If he sells it out of his free will, then the first 4 years SSD should apply.In other words, evil and scheming people can plot around this providence and plan it such that if 2 years into the purchase, they need to sell, then they force the law to force them to sell so can skip SSD, then when things are settled, they decide to undo any 'damage' done earlier? WOW! This is pure evil! :hell-hath-no-fury:
On one hand, here are ppl talking about property prices dropping - on the other hand there are still many talks about project sales being good n forthcoming launches pricing higher or min the same level.. Where are these heading to? Will bargain hunters succeed, and bottom fishing out at full force again? Wait or go in now?
Property prices not coming down lah! Check out the new record for property price! :p
On one hand, here are ppl talking about property prices dropping - on the other hand there are still many talks about project sales being good n forthcoming launches pricing higher or min the same level.. Where are these heading to? Will bargain hunters succeed, and bottom fishing out at full force again? Wait or go in now?
We r in an era of inflation. Gold has surged 20-30% in recent months. Valuable FH or 999LH assets have to catch up. Good to get a FH or 999LH property near MRT with min 40% downpayment. Owning a house is like having a sports car, but e instalment is cheaper n it gets more valuable w time. It brings u status also.
We r in an era of inflation. Gold has surged 20-30% in recent months. Valuable FH or 999LH assets have to catch up. Good to get a FH or 999LH property near MRT with min 40% downpayment. Owning a house is like having a sports car, but e instalment is cheaper n it gets more valuable w time. It brings u status also.
You are comparing a global commodity with local property. Not so easy. What about FH in US? Or UK or KL?
Just get some hard assets that can last. Property prices will not come down unless we have >1 year of recession, interest rate goes up and retrenchment in the hundreds come out in the news.
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