View Full Version : Honestly CM got NO effect...
the way i see people still buy dont care about CM...ha ha...i think govt really scratch head...:p
ikan bilis
19-01-12, 15:00
...ummm... bro, honestly me think you buy back a pte property better... else you like more stressful without that pte property... ;)
May need to wait longer to see direction of the housing market. Sellers still have holding power. Not dropping price unless the economic situation worsens significantly. Singapore is still a relatively "safe" place to park $$$ compared to many other places these days. Without CM, there may be too many foreigners wanting to invest here and drive prices up.
Bro radha08 continue to pay rent to your landlord. Durian not ripening so soon. Hope it will drop for you. If not......:banghead:
...ummm... bro, honestly me think you buy back a pte property better... else you like more stressful without that pte property... ;)
"Honestly CM got NO effect... " = True. interesting development.
Some ppl that I know, either sell their Pte Pty and/or HDB last year in view of all the CMs and drop in prices etc. went to stay in rented or alternative accomodation... a few now also scratching their heads.
I believe the prices would have risen much faster if not for CM.
Now it's rising at a relatively slow rate compared to before CM.
US is emerging from the doldrums already and if they get a republican president this round, there should be more capitalist-oriented (read: money, money, money for the corporates, rich and powerful) policies coming along.
The Euro crisis is protracted and will stick its ugly head up every now and then but once the political agendas have been largely fulfilled, the Euro issues should also begin to dwindle having served their purpose. Like a big merry-go-round, the next global crisis should likely be in Asia and that would be the only thing that will bring about a crash in the property market here.
Singapore's property market is markedly different from China in that much of the "locked" value in properties is held by majority of the people (HDB, PCs, etc) and a significant percentage of the aging population is dependent on unlocking that value for their nest-egg. Thus the CMs that are unleashed in Singapore can only negate further up-side to a certain extent but the down-side damage has to be limited to avoid hurting that the silver-haired members of the populus.
the way i see people still buy dont care about CM...ha ha...i think govt really scratch head...:p
My friend very yaya. He is damn lucky(according to agent) that the owner of the property he eyed willing to sell his property fast so reduce his price by 10% initial asking after CM. 10% is alot actually. Panic seller. My friend agent tried to persuade him but he insist another 5% off citing CM5 will crash prices etc. He said he not in a hurry to buy(actual fact he is cos he is now renting) and he asked agent go tell seller to consider and give him an answer ASAP cos he also considering another seller's house(bullshit one la). Guessed what? My friend in the end gave in after 2 weeks, called up agent to try his luck want to compromise another 2% off. Property SOLD. Now he continue to scout for good deals, no luck at all. Those good location or freehold prices all holding well. Moral of the story is if u manage to find firesales or good deal, grab it. Dun be greedy.
Wah got scratch head? They target foreigners only mah followed by PRs for latest CM but actual fact as we pointed out, the people pushing up the prices are the CITIZENS! :doh:
Is it any wonder the effect of their CM? Only MMs, Far-out ulu projects as long as priced <$1200 psf sure got CITIZENS buyers! :scared-1:
the way i see people still buy dont care about CM...ha ha...i think govt really scratch head...:p
the way i see people still buy dont care about CM...ha ha...i think govt really scratch head...:p
is our govt scratching their head now?
i don't think so because they are so concern of their new salary adjustment. lost motivation.
They now realise that it is a bottom-less well. It is impossible to please everyone. Measure A pleases group A but antagonises group B. Measure B pleases group B but infuriates group C. Measure C pleases group C but enrages group A. At the end of it all, they will then realise that they have pissed everyone off instead of pleasing everyone.
The salary adjustments were to please group A - the vocal objectors to high salaries for the ministers. In the process, they stirred up emotions in group B - their own team of ministers and MPs, from which the more vocal ones are being ostracised online for being "money-faced". Who benefits from this? The opposition naturally; they are using the momentum created to slam the government wave after wave.
is our govt scratching their head now?
i don't think so because they are so concern of their new salary adjustment. lost motivation.
They now realise that it is a bottom-less well. It is impossible to please everyone. Measure A pleases group A but antagonises group B. Measure B pleases group B but infuriates group C. Measure C pleases group C but enrages group A. At the end of it all, they will then realise that they have pissed everyone off instead of pleasing everyone.
The salary adjustments were to please group A - the vocal objectors to high salaries for the ministers. In the process, they stirred up emotions in group B - their own team of ministers and MPs, from which the more vocal ones are being ostracised online for being "money-faced". Who benefits from this? The opposition naturally; they are using the momentum created to slam the government wave after wave.
haha..:D
opposition +1
govt 0
opposition will whack until govt churn more cms anot..????
Rental don't drop, property price will not drop.
My friend very yaya. He is damn lucky(according to agent) that the owner of the property he eyed willing to sell his property fast so reduce his price by 10% initial asking after CM. 10% is alot actually. Panic seller. My friend agent tried to persuade him but he insist another 5% off citing CM5 will crash prices etc. He said he not in a hurry to buy(actual fact he is cos he is now renting) and he asked agent go tell seller to consider and give him an answer ASAP cos he also considering another seller's house(bullshit one la). Guessed what? My friend in the end gave in after 2 weeks, called up agent to try his luck want to compromise another 2% off. Property SOLD. Now he continue to scout for good deals, no luck at all. Those good location or freehold prices all holding well. Moral of the story is if u manage to find firesales or good deal, grab it. Dun be greedy.Wah... really :banghead: ...
Fren read d nos n c market
All dead. No effect. Blind also can c negative impact
Helllo.....how many resale units in dec? How many u think in Jan. Higher? BS
My friend very yaya. He is damn lucky(according to agent) that the owner of the property he eyed willing to sell his property fast so reduce his price by 10% initial asking after CM. 10% is alot actually. Panic seller. My friend agent tried to persuade him but he insist another 5% off citing CM5 will crash prices etc. He said he not in a hurry to buy(actual fact he is cos he is now renting) and he asked agent go tell seller to consider and give him an answer ASAP cos he also considering another seller's house(bullshit one la). Guessed what? My friend in the end gave in after 2 weeks, called up agent to try his luck want to compromise another 2% off. Property SOLD. Now he continue to scout for good deals, no luck at all. Those good location or freehold prices all holding well. Moral of the story is if u manage to find firesales or good deal, grab it. Dun be greedy.
Why friend worry. So many new condos coming n nicer. Mrt everywhere
Wht location. Newer projects lesser problem lesser maintenance. Later all TOP we c
bigapplefan
19-01-12, 23:00
Just wait a bit, usually retrenchments come after CNY.. then pple will start to worry
...ummm... bro, honestly me think you buy back a pte property better... else you like more stressful without that pte property... ;)
yup i also think like that now looking around weekend go viewing thats why i come to this conclusion....cm got no effect....:o
May need to wait longer to see direction of the housing market. Sellers still have holding power. Not dropping price unless the economic situation worsens significantly. Singapore is still a relatively "safe" place to park $$$ compared to many other places these days. Without CM, there may be too many foreigners wanting to invest here and drive prices up.
Bro radha08 continue to pay rent to your landlord. Durian not ripening so soon. Hope it will drop for you. If not......:banghead:
my situation not so bad only press 1/2 ball....others need to press 2 ball...:scared-1:
ha ha tats cos i also landlord collect rent from hdb top up a bit every month stay landed...but now a bit kancheong cos rental for my landed contract left 8mths....:D:D
tenants all going 4 cheaper rent
wait...banks retrenchment..more angmo in OCR? they get cost cut
citibank bonus down 20%
all teochew song..other landlords lock in 2 yrs dun care rent..get cashflow 1st
old projects need reno. cannot fight new nice project 4 tenant
Reiterate economy will still be fine and US seems to be picking up as well.
Everyone will turn cautious which is good for OCR rental. :D
rattydrama
20-01-12, 00:05
Reiterate economy will still be fine and US seems to be picking up as well.
Everyone will turn cautious which is good for OCR rental. :D
but there is a concern weather the rental rate able to maintain at current level. I heard many TOP units waiting for tenants ..its difficult to get tenant unless owner lower their asking price.
but there is a concern weather the rental rate able to maintain at current level. I heard many TOP units waiting for tenants ..its difficult to get tenant unless owner lower their asking price.
cooling measure got no bearing on rental rates but positive effect on rental demand.... increase demand to rent rather than buy.
there was a report very recent which say increase 5% in rental demand yield confirm demand outstrip supply.....
analyzing rent in isolation.
US will continue 2 post good data. but world trade slows. biz all under pressure
margins compressed. theory looks gd. grd reality is bad
but there is a concern weather the rental rate able to maintain at current level. I heard many TOP units waiting for tenants ..its difficult to get tenant unless owner lower their asking price.
U heard? U shld experience it then tell us la!
I was trying to find a rental unit after selling late last year, rental market is tight. There maybe many units in the market, but demand is strong enough to keep the rental rates up for at least 1-2 quarters.
Lately, my friend tried to rent out a unit. Put up ad less than 2 weeks, taken!
DKSG
Stay Calm and Cool
older and poorly maintained units will always be tough to rent out and also those just TOP large scale projects will have problems finding tenants in the first 6 months
When interest rates return to 3% and above, buying will stop. Anyway those who can wait, 2013-2014 will be good to absorb excess supply going at discounts. Those who cannot wait, grab your favorite facing and floors now.
Condo Kaiser
20-01-12, 15:19
Has anyone considered the below conspiracy theory?
All the CMs are not imposed to help the poor but a ploy to help the rich?
During 2008 - 2009.... So many previously middle class Singaporeans became millionaire from en-bloc and property flipping. BMW/Merc are beginning to become ordinary. All the previously Toyota driving uncles are all wearing Rolex driving 5 series. And most of them start to think they are on the top of the world.
The truely rich in Singapore are feeling unhappy because they no longer feel exclusive. They are used to being the masters of the universe and now a lot more indian chief shouting around trying to act like a boss. The wait list for thier new car are getting longer and they fear one day even a lambor is not enough to distinguish themself.
So to stop more middle class Singaporean making any more money from property, they have to stop people from owning more properties. Voila!! Introduce CMs. While all the middles class uncles are sweating over their property portfolios or even unloading them at discounts, the ultra rich are quietly accumulating. Now with all the CMs, prices will likely stabilise. Once the ultra rich reached their targeted porfolio, CMs will be removed one by one to prop up the prices. It will be timed together with the recovery in global economy to add fuel to the fire. When that happens, prices will jump by 20%-50% and all the middle class uncles who stood on the sideline waiting for durians to drop will rush in like mad to grab properties while the ultra rich are all laughing to the bank thinking "all you fools, coming in to mop up the last 5% of profit". Once everyone rushes in, a likely correction in price will occur and many will be caught by it due to greed.
After the dust settles, property prices stabilise again, poor people are still poor, middle class will still be middle class (multiple properties but all still owe banks large amount of debt, no more cash as all sunk into properties so cannot drive BMW/Merc). While the ultra rich continue to drive around in their super cars thinking "Lucky got CM back in 2010-2011, otherwise now everyone will have a supercar"
HAPPY CHINESE NEW YEAR EVERYONE!
I hope by next CNY I can get my Aventador.
:cheers4:
U heard? U shld experience it then tell us la!
I was trying to find a rental unit after selling late last year, rental market is tight. There maybe many units in the market, but demand is strong enough to keep the rental rates up for at least 1-2 quarters.
Lately, my friend tried to rent out a unit. Put up ad less than 2 weeks, taken!
DKSG
Stay Calm and Cool
Most FTs comes in nowadays look 4 HDB.strong demand there. those private jialat...ur fren 2 wks...mkt hot? 2 days taken = mkt hot.
oversupply condo
Private properties only 200k+ units.
HDB flats 900k+ units!
Which one more over-supply? :confused:
Stupid people paying $2k rental for a 4-rm HDB flat? :scared-2:
Most FTs comes in nowadays look 4 HDB.strong demand there. those private jialat...ur fren 2 wks...mkt hot? 2 days taken = mkt hot.
oversupply condo
Private properties only 200k+ units.
HDB flats 900k+ units!
Which one more over-supply? :confused:
Stupid people paying $2k rental for a 4-rm HDB flat? :scared-2:HDB is typically about 80% of the population so 900 units out of 1100 units is about 82% so about right...
What to you is decent rental price for a 4 rm HDB flat?
HDB is typically about 80% of the population so 900 units out of 1100 units is about 82% so about right...
What to you is decent rental price for a 4 rm HDB flat?
$500....:D:D:D
$500....:D:D:D
You would not rent out your own unit for that price, would you? :D
It's supply and demand. If there are people willing to pay higher rental, then the rental will go up.
blackjack21trader
21-01-12, 06:44
your humble brother here never stay in a HDB before. But from my recollection of staying in a 4 room Marine Terrace HDB with my ex-girlfriend family for a month last time about 25 years ago, I dare say even a 30 years old 4 room HDB whole unit is worth at least S$3000 per month now. because that experience in a HDB is similiar to a Hong Kong condo la. Except in Hong Kong, you have to stay in Kowloon or Hong Kong island to have good access to infrastructure, here in Singapore, every HDB estate is Kowloon la... WOHAHAHAHAHAHHAHAH
i am kinda agree with threadstarter..
it seem like either the news are fake or the pple living in sg is filthy rich
Incomes of citizens however, have not caught up with the prices. I am inclined to think that many citizens are over-leveraged, and a lot of pple have stretched beyond the commonly accepted the 5-8 years of annual income, for their condo loans.
In business gatherings, I can see that many people, particularly the bankers, are quite tight. There's some doubt & hesitation in their eyes, esp when the 5-8 yrs topic is raised in small-talk.....
Last year, property developers sold an average of 1,300 homes per month. The recently-released December new private home sales figure of 632 is slightly less than half that number. Can we predict that overall home sales will be halved this year? This will be a huge concern for developers – their unsold stock will simply balloon. Or is last month the worst it can get and that conditions can only improve from here?
You could read last month’s figure in two ways. The straightforward reading by most media is that new private homes sales, excluding executive condominiums, plunged 63 per cent from November. But housing agents I spoke to said they had expected a heavier fall after the imposition of the additional buyers’ stamp duty (ABSD).
You can understand where they are coming from. After all, almost every property expert in the market had predicted that a price correction was on the cards or simply inevitable. Even a few developers admitted that the price situation was unsalvageable.
Yet, the fact that 632 purchasers chose to buy in the month when they could have ostensibly got them cheaper a few months later must be puzzling. These buyers seemed to act against good advice, or for that matter, the only advice offered publicly.
At a recent seminar, I told the audience that they had to analyse the market at both micro and macro levels. If you choose to analyse market behaviour purely from the ground level, you will always be puzzled. At the macro level, you would realise that there are few investment alternatives.
Some analysts have said that a price correction would be healthy for the market. I agree. I have never said that the current market is healthy but I cannot say that prices will fall as a result of the ABSD if I cannot see it happening. It can happen if there is a deep recession or if borrowing costs rise sharply and suddenly, but not purely as a result of the ABSD.
At the same time, it is also difficult to see prices rising in the near future as the authorities are continuing to make land available for private housing.
Still, last month’s figure is the lowest in two years and reflects a huge dent on buying sentiment. The announcement of the ABSD on Dec 7 left enough room for those who want to pull out to do so. This would mean the figures would be the first month to accurately reflect the full impact of the ABSD.
I had expected weak sales at similar levels to continue for the next two months but after what happened on Wednesday at the launch of Watertown in Punggol Central, I am not so sure any more. If the sales figures are to be believed, more than 160 of the 250 units launched were snapped up. Had prices been lowered as the developer had indicated the day before? But as the news report pointed out, the project set a new price benchmark for Punggol.
As I often remind my colleagues, the money is out there, waiting to be spent. You need to build a good story line for the buyer to take out his cheque book. News reports also said that more than 90 per cent of the buyers were Singaporeans. Have we seriously under-estimated the pool of first-time buyers? Or were the serial investors out in force?
We should never dismiss the serial investors. They are a resourceful lot. Nothing energises them more than the prospect of making tons of money. Have they drawn up a list of family members, relatives and even friends whose names they can borrow?
I have spoken to some of them – many are outspoken and cocky. They thumbed their noses at the new rules and loudly proclaimed that they will not be beaten. Let me give them some advice – if the robust buying does not weaken, what do you think will happen next?
Yes, more cooling measures.
By Colin Tan – head of research and consultancy at Chesterton Suntec International. (20 Jan 2012)
ikan bilis
21-01-12, 12:25
Hur ??... haha,… why like that 1…. :scared-4:
Immediately after 07 Dec 2011 people making noise property market/price will be kena crashed by cm5…
One month later now people are like mocking at cm5 got no kick….
:cheers4:
blackjack21trader
21-01-12, 13:11
Hur ??... haha,… why like that 1…. :scared-4:
Immediately after 07 Dec 2011 people making noise property market/price will be kena crashed by cm5…
One month later now people are like mocking at cm5 got no kick….
:cheers4:
not true la brother.... you go to my showrooms located in all the small lanes in D15 today, you will see that I am eating grass now la....one more 0.5 CM your brother here will become an ugly and dead brother liao la..sigh yo.....
i am kinda agree with threadstarter..
it seem like either the news are fake or the pple living in sg is filthy rich
got effect lah.. a lot of projects cannot sell out or not moving.
According to Mr Colin Tan's article, maybe he has gone down to the gorunds and check it out and he was utterly surprised too by the buyers' response and worst of all, those interviewed by him have this attitude that challenge the garmen and he was worried about that further CM will come...let wait and see...:p...similar to the scenerio once upon a time happened not too far ago, remember some one mentioned that if the voters go for the opposite instead of foreign minister in some constituency, face the consequences is the warning, nevertheless, the outcome is a shocker...:o
not true la brother.... you go to my showrooms located in all the small lanes in D15 today, you will see that I am eating grass now la....one more 0.5 CM your brother here will become an ugly and dead brother liao la..sigh yo.....
Which oneS? I can drop by to take a look.
i think the CMs have achieved their desired effect in retrospect. the objective is to tame runaway prices. and it is. if it isn't working, you would have seen FEO selling Watertown at 1200psf with buyers biting instead of 1000psf.
but if we get a 20% annualised increase in price sometime middle this year, there should be more CM on the way.
developers' recent bid prices have either stabilised or dropped, so clearly CM is effective.
yeah hope that the recent CMs work..dread to think that more CMs on the way if the current doesn't work or not to the result that is what garmene expected...that will be headache...:doh:
but on the other hand, if what Colin says is true that some buyers he spoke to are cocky and thumbed up the nose at the recent CM and said they will not be beaten by the CM from garmen...CM6 will not be far away...:p
Some of these journalists super bear ones, hoping to crash the prices with their pens hor? Some have been bearish for so long that he will be right once in a blue moon. :beats-me-man:
According to Mr Colin Tan's article, maybe he has gone down to the gorunds and check it out and he was utterly surprised too by the buyers' response and worst of all, those interviewed by him have this attitude that challenge the garmen and he was worried about that further CM will come...let wait and see...:p...similar to the scenerio once upon a time happened not too far ago, remember some one mentioned that if the voters go for the opposite instead of foreign minister in some constituency, face the consequences is the warning, nevertheless, the outcome is a shocker...:o
Some of these journalists super bear ones, hoping to crash the prices with their pens hor? Some have been bearish for so long that he will be right once in a blue moon. :beats-me-man:
not this colin tan...so far I read about his writings and recent seminar...:o
yeah hope that the recent CMs work..dread to think that more CMs on the way if the current doesn't work or not to the result that is what garmene expected...that will be headache...:doh:
but on the other hand, if what Colin says is true that some buyers he spoke to are cocky and thumbed up the nose at the recent CM and said they will not be beaten by the CM from garmen...CM6 will not be far away...:p
channel 8 news reported watertown sold 3xx units..
good takeup and undetered by the cms..
cm6..!!! ai lai liao oooooooOOmg!!:D
ikan bilis
21-01-12, 17:45
not this colin tan...so far I read about his writings and recent seminar...:o
this is the one, from Chesterton Suntec International.... he had been very bearish for last 4-5yrs.... until recently he then became "less bearish"... he was a big big bear in 2007-2010 shouting crash... but i damn like the articles he wrote... more realistic/sense... :D ;)
blackjack21trader
21-01-12, 17:54
Let your humble brother tell you what this CM5 is like. It resemble uncannily the likes of the hands of a medical doctor.
you know like got slight fever you use placetamol right ? The fever will slowly subside over a few hours. but the fever will slowly creep up unless the virus totally leave the body.
But with very high fever, you use what ?This CM5 is like using those high fever bullets that stuck up your behind and immediately cooled the body temperature.
that is why i say the media hai shi lang la....go report those smaller projects and see how hor. dun sabo leh.....:doh: :scared-4: :banghead:
channel 8 news reported watertown sold 3xx units..
good takeup and undetered by the cms..
cm6..!!! ai lai liao oooooooOOmg!!:D
350 units to be exact..!!!
yip yip horrayyy...
blackjack21trader
21-01-12, 18:03
Let your humble brother tell you what this CM5 is like. It resemble uncannily the likes of the hands of a medical doctor.
you know like got slight fever you use placetamol right ? The fever will slowly subside over a few hours. but the fever will slowly creep up unless the virus totally leave the body.
But with very high fever, you use what ?This CM5 is like using those high fever bullets that stuck up your behind and immediately cooled the body temperature.
that is why i say the media hai shi lang la....go report those smaller projects and see how hor. dun sabo leh.....:doh: :scared-4: :banghead:
I say this Ah Long inherited his father's gene of the ability to forsee the future. He put one well versed in the medical field into the property markets.
now you know why I warned the developers brothers not to any-o-how give discount otherwise later end up sabo ownselves la. belive or not is up to you lor.
Response rate almost can rival ATT. 350 units in a few days? For 1000psf in punggol. Eurozone problems seems to have been forgotten.
blackjack21trader
21-01-12, 18:11
Response rate almost can rival ATT. 350 units in a few days? For 1000psf in punggol. Eurozone problems seems to have been forgotten.
carry on the fever lor...go entice the buyers with huge discounts lor... this CM5 that targeted the foreigners very very clearly had made the water subsided to reveal the real rocks underneath because the foreigners are taken out of the equation. Now this Ah Khaw can see very very clearly like got third eye like your handsome brother here liao. I shivered when I think of that....so far only CDL keep silent which is the correct thing to do hor...:doh: :eek:
When CM6 comes, at least FEO generated some income before eating grass with CDL. 90% of buyers were singaporeans according to the news.
blackjack21trader
21-01-12, 19:04
When CM6 comes, at least FEO generated some income before eating grass with CDL. 90% of buyers were singaporeans according to the news.
DEARest brother kane, I think u still have not decode my message. well, let your handsome brother tells you this: if you generated income from selling to the buyers products that will later appreciate in value is fine; everyone is happy. but think what could very well happen if the reverse becomes true ? I am of course not saying that it will happen. But remember say, if one marks up then gave back the same % discounts in a booming markets is ok. But what if the markets really turned sour because of the missing foreigners? why CDL is doing the right thing ? Because they did not make any moves to counter the CM effects, they merely let you see and sell lower if market goes down and sell higher if markets go up. In property, we are selling dreams, not just a simple physical product. and maintaining good relationship with buyers is important for future businesses.
Just suggesting only, dun listen to me also can.
blackjack21trader
21-01-12, 19:14
DEARest brother kane, I think u still have not decode my message. well, let your handsome brother tells you this: if you generated income from selling to the buyers products that will later appreciate in value is fine; everyone is happy. but think what could very well happen if the reverse becomes true ? I am of course not saying that it will happen. But remember say, if one marks up then gave back the same % discounts in a booming markets is ok. But what if the markets really turned sour because of the missing foreigners? why CDL is doing the right thing ? Because they did not make any moves to counter the CM effects, they merely let you see and sell lower if market goes down and sell higher if markets go up. In property, we are selling dreams, not just a simple physical product. and maintaining good relationship with buyers is important for future businesses.
Just suggesting only, dun listen to me also can.
http://www.youtube.com/watch?v=Av8blZzbWLU
http://www.youtube.com/watch?v=y3PUymF3YLI
http://www.youtube.com/watch?v=MoI4A_6px6Y
DEARest brother kane, I think u still have not decode my message. well, let your handsome brother tells you this: if you generated income from selling to the buyers products that will later appreciate in value is fine; everyone is happy. but think what could very well happen if the reverse becomes true ? I am of course not saying that it will happen. But remember say, if one marks up then gave back the same % discounts in a booming markets is ok. But what if the markets really turned sour because of the missing foreigners? why CDL is doing the right thing ? Because they did not make any moves to counter the CM effects, they merely let you see and sell lower if market goes down and sell higher if markets go up. In property, we are selling dreams, not just a simple physical product. and maintaining good relationship with buyers is important for future businesses.
Just suggesting only, dun listen to me also can.
Oh, I see. Well, it won't be the first time they sold something at the peak. Ha. But I think those at bedok will remember their developer even more for theor 1300psf.
According to Mr Colin Tan's article, maybe he has gone down to the gorunds and check it out and he was utterly surprised too by the buyers' response and worst of all, those interviewed by him have this attitude that challenge the garmen and he was worried about that further CM will come...let wait and see...:p...similar to the scenerio once upon a time happened not too far ago, remember some one mentioned that if the voters go for the opposite instead of foreign minister in some constituency, face the consequences is the warning, nevertheless, the outcome is a shocker...:o
From CM1 to CM4, I still feel alright as it ensure buyers can hold which is good, by MBT. CM5 really irks as its putting unfairness to Singaporean. Keep saying pragmatic all along even in their salary debate but the actions of CM5 is POPULIST. Used to like white but confirm NO MORE anymore.
enough.
Public flat affordabilty is the issue, not PC. This is not for any Tom, Dick, Harry.
Those who strive hard and save and then own PC through hardwork over many year and then becomes victims.
Probalbly lost the 20%. But can confirm gain the 80%??? So much issue on Mrt, increase tranport cost, want higher profit yoy, flooding, etc......not just housing.
Wtf ppl can't speak simple English
Wow! The BT article really pin-point several things:
1) The latest CMs reduces number of resale private properties since foreigners don't want to sell / change property anymore! Also Citizens & PRs don't change to sell / change property anymore!
2) Since little resale private properties for sale, help to drive buyers to seek out only new launches!
3) All the CMs give unfair advantage to new launch properties, especially favorable to specuvestors since they don't need the property to be ready immediately to live in anyway!
4) All the CMs results in shrinking resale properties available, hence buyers got to buy new launch and developers can make profit! This way GLS then can have buyers and at good price (otherwise no developers want to bid for land if difficult to sell at good price!). Gov become big winner!
4) Massive job-losses related to resale property sector!
'Shrinking volumes in the secondary market aren't a good thing because interior designers, renovation contractors, agents doing home leasing will all be affected.'
From CM1 to CM4, I still feel alright as it ensure buyers can hold which is good, by MBT. CM5 really irks as its putting unfairness to Singaporean. Keep saying pragmatic all along even in their salary debate but the actions of CM5 is POPULIST. Used to like white but confirm NO MORE anymore.
enough.
Public flat affordabilty is the issue, not PC. This is not for any Tom, Dick, Harry.
Those who strive hard and save and then own PC through hardwork over many year and then becomes victims.
Probalbly lost the 20%. But can confirm gain the 80%??? So much issue on Mrt, increase tranport cost, want higher profit yoy, flooding, etc......not just housing.
Business Times - 21 Jan 2012
Secondary market deals shrink last year
Surge in new supply at developer launches from earlier land sales sends buyers flocking to primary market
By KALPANA RASHIWALA
THE percentage of private homes purchased in the primary market, that is, from developers, increased last year while conversely the proportion bought in the secondary market declined.
This comes as buyers found a bigger hunting ground at developers' launches arising from the step-up in land sales since 2010.
Analysts also point to another advantage of picking up an uncompleted property from a new project: Payment to the developer is spread over a few years according to the stage of the project's completion, compared with having to fork out the entire purchase price upfront when buying a completed property in the secondary market. This would appeal especially to specuvestors.
Some market watchers also say the seller's stamp duty, which is aimed at discouraging short-term property trading, has shrunk the pool of properties available for sale in the subsale market, again shrinking the secondary market's share of deals.
Credo Real Estate's analysis of URA caveats data shows that out of a total of 29,094 caveats lodged for private home purchases (excluding executive condos) last year, 43.3 per cent were from the primary market, up from a 38.8 per cent share in 2010.
The secondary market - which covers resales (involving sales of projects that are completed, that is, which have received Certificate of Statutory Completion, or CSC) and subsales (involving projects without CSC) - saw the volume of deals shrinking 26.7 per cent last year, and sending the secondary market's share sliding from 61.2 per cent in 2010 to 56.7 per cent last year.
Mapping the primary and secondary market shares against land sales all the way back to the 1990s, Credo concluded that a major reason for increases in proportion of primary market sales is the surge of primary market new supply, especially after active periods of Government Land Sales (GLS) and collective sales.
'In response to the buoyant market in the mid-90s, we saw active GLS and en bloc sales between 1994 and 1997, and this led to increasing primary market share while secondary market proportion declined up to 1998,' observes Credo Real Estate executive director Ong Teck Hui.
'Declining land sales in 1997 and its absence in 1998 reduced primary market share in 1999/2000 but a pick-up of land sales in 1999/2000 caused primary market share to increase in 2001/02.
'Subdued land sales from 2001 to 2005 resulted in falling primary market share between 2003 and 2008.'
For 2008, the proportion of private homes sold in the primary market plunged to a low of 30.2 per cent.
Although land sales picked up in 2006/07, 2008 was a bad year with many launches held back.
'However, a resumption of new project sales in 2009 saw the primary market share increasing. And of course the robust GLS and en bloc sale market recovery in 2010 contributed to a further increase in primary market share in 2011,' commented Mr Ong.
He also offers a reason for property specuvestors to favour buying a unit in a new project from a developer rather than a completed property in the secondary market.
'The revised seller's stamp duty (SSD) imposed in January 2011 could also have led some investors to prefer primary market properties where they minimise their capital exposure due to progress payments. Also by the time the property is completed in about three years, they would be penalised only by a relatively small 4 per cent SSD if they sell in the fourth year, or escape it altogether if they hold a bit longer,' said Mr Ong. This would appeal to someone who does not want to have to find a tenant for a newly completed property, he added.
A developer says the SSD regime has caused the supply of properties available for sale in the secondary market, especially in the subsale market, to shrink.
The SSD is set at 16, 12, 8 and 4 per cent for those who buy a private home from Jan 14, 2011 and sell it within the first, second, third and fourth year of purchase respectively.
The developer reckons the additional buyer's stamp duty (ABSD), which took effect on Dec 8 last year, will also dry up secondary market transactions. 'A foreigner who's not a Singapore permanent resident may not want to give up his existing property here because if he buys another property in Singapore, he would have to pay a 10 per cent ABSD on it,' he explains.
'The ABSD and SSD have changed the dynamics of the willing buyer-willing seller interaction,' he added. 'Shrinking volumes in the secondary market aren't a good thing because interior designers, renovation contractors, agents doing home leasing will all be affected.'
DTZ's Southeast Asia chief operating officer Ong Choon Fah expects the primary market share of private home purchases to continue to increase vis-a-vis the secondary market, pointing to a still substantial quantum of new homes launched by developers on sites acquired from the GLS programme. 'Those who've bought properties (after Jan 13, 2011) will be subject to the SSD, which reduces the availability of properties for sale in the secondary market.'
Copyright © 2010 Singapore Press Holdings Ltd. All rights reserved.
Honestly, the property game in Singapore is OVER... for now.
Come back after 2015 or beyond.
For latecomers, better to look elsewhere or keep cash.
:2cents:
:47:
blackjack21trader
21-01-12, 22:07
Honestly, the property game in Singapore is OVER... for now.
Come back after 2015 or beyond.
For latecomers, better to look elsewhere or keep cash.
:2cents:
:47:
i agree,brother :(
i agree,brother :(
Will the private property ever fall back to the good old day price < 1mil range?
Will it be possible for a heartlander like me to ever realise my dream of owning a private property?
Honestly, the property game in Singapore is OVER... for now.
Come back after 2015 or beyond.
For latecomers, better to look elsewhere or keep cash.
:2cents:
:47:
or latecomers, go for bto hdb.. bao jia!!
blackjack21trader
21-01-12, 22:13
Will the private property ever fall back to the good old day price < 1mil range?
Will it be possible for a heartlander like me to ever realise my dream of owning a private property?
dear brother yowetan, last time my d9 condo can exchange one landed terrace in OCR. that was just 5 years ago.
Will the private property ever fall back to the good old day price < 1mil range?
Will it be possible for a heartlander like me to ever realise my dream of owning a private property?
i thought u owned a private but sold it?
or latecomers, go for bto hdb.. bao jia!!
bto = bao jiak
dbss = dio jiak?
blackjack21trader
21-01-12, 22:18
Honestly, the property game in Singapore is OVER... for now.
Come back after 2015 or beyond.
For latecomers, better to look elsewhere or keep cash.
:2cents:
:47:
guys, you can click on the Sumitomo advert banner in this forum. some nice osaka properties I am consideringl now. wonder the price how...click and share your views here to sharpen my property skills.
guys, you can click on the Sumitomo advert banner in this forum. some nice osaka properties I am consideringl now. wonder the price how...click and share your views here to sharpen my property skills.
what's the bite size?
Will the private property ever fall back to the good old day price < 1mil range?
Will it be possible for a heartlander like me to ever realise my dream of owning a private property?
For those who bought their first HDBs with govt subsidies, I feel that the govt should make them cough out the subsidy to return to govt if they now have the means to upgrade and buy a private property. It is not fair for those who have never bought a HDB and never got to enjoy this privilege. Hopefully the opposition party push for this change!!!
interesting..
20% condos owners complain against hdb owners for the subsidy and etc..
while the 80% hdb owners complaining being priced out to upgrade condos.
condo owners vs hdb owners
:D
DEARest brother kane, I think u still have not decode my message. well, let your handsome brother tells you this: if you generated income from selling to the buyers products that will later appreciate in value is fine; everyone is happy. but think what could very well happen if the reverse becomes true ? I am of course not saying that it will happen. But remember say, if one marks up then gave back the same % discounts in a booming markets is ok. But what if the markets really turned sour because of the missing foreigners? why CDL is doing the right thing ? Because they did not make any moves to counter the CM effects, they merely let you see and sell lower if market goes down and sell higher if markets go up. In property, we are selling dreams, not just a simple physical product. and maintaining good relationship with buyers is important for future businesses.
Just suggesting only, dun listen to me also can.
COZ this is F$O they will just push wat they can at way above market price. PPle stuck? they also dont care. Cannot sell they rent coz to them its at cost. Go check out hill view they still have units selling after 10yrs Coz they rent it out. The left over unit.
For those who bought their first HDBs with govt subsidies, I feel that the govt should make them cough out the subsidy to return to govt if they now have the means to upgrade and buy a private property. It is not fair for those who have never bought a HDB and never got to enjoy this privilege. Hopefully the opposition party push for this change!!!
Sounds like we are going for a witch hunt. Those that didn't make $ are not happy with those that made?
Lets put it this way. if HDB become worthless at most wat the owner paid. but private property continue to grow in price. Shall the pple cry foul that the government undervalue the HDB and demand to be paid a fair value?
Fact is appreciation is not a bad thing as long as continue supply of housing from government tat can still be afforded. i.e. new flats.
dear brother yowetan, last time my d9 condo can exchange one landed terrace in OCR. that was just 5 years ago.
Now ? also can right? just smaller..
blackjack21trader
22-01-12, 06:32
what's the bite size?
i dun understand the measurement unit in their floorplans, mayb some brothers here can help?
tsubo 坪 is their base measurement for areas.
1 tsubo = 35.58 sqft
mat is used for measuring room size.
1 mat = 0.5 tsubo = 17.79 sqft
so room size of 8.1 mats = 144 sqft
Be careful about the tax system as well, it is very anti-foreigners. For example, they have something like CFP, if a foreigner can stay for 10 years, he can enjoy retirement benefits. But a lot of my friends just cannot get visa after staying for 9 years. The money then belongs to the government.
Rental market is also very strange, you need to pay something like 6 months before you can move into a unit.
Thanks,
Richard
blackjack21trader
22-01-12, 12:44
tsubo 坪 is their base measurement for areas.
1 tsubo = 35.58 sqft
mat is used for measuring room size.
1 mat = 0.5 tsubo = 17.79 sqft
so room size of 8.1 mats = 144 sqft
Be careful about the tax system as well, it is very anti-foreigners. For example, they have something like CFP, if a foreigner can stay for 10 years, he can enjoy retirement benefits. But a lot of my friends just cannot get visa after staying for 9 years. The money then belongs to the government.
Rental market is also very strange, you need to pay something like 6 months before you can move into a unit.
Thanks,
Richard
thanks brother richard, keep them coming:)
:o
Wow! The BT article really pin-point several things:
1) The latest CMs reduces number of resale private properties since foreigners don't want to sell / change property anymore! Also Citizens & PRs don't change to sell / change property anymore!
2) Since little resale private properties for sale, help to drive buyers to seek out only new launches!
3) All the CMs give unfair advantage to new launch properties, especially favorable to specuvestors since they don't need the property to be ready immediately to live in anyway!
4) All the CMs results in shrinking resale properties available, hence buyers got to buy new launch and developers can make profit! This way GLS then can have buyers and at good price (otherwise no developers want to bid for land if difficult to sell at good price!). Gov become big winner!
4) Massive job-losses related to resale property sector!
'Shrinking volumes in the secondary market aren't a good thing because interior designers, renovation contractors, agents doing home leasing will all be affected.'
Business Times - 21 Jan 2012
Secondary market deals shrink last year
Surge in new supply at developer launches from earlier land sales sends buyers flocking to primary market
By KALPANA RASHIWALA
THE percentage of private homes purchased in the primary market, that is, from developers, increased last year while conversely the proportion bought in the secondary market declined.
This comes as buyers found a bigger hunting ground at developers' launches arising from the step-up in land sales since 2010.
Analysts also point to another advantage of picking up an uncompleted property from a new project: Payment to the developer is spread over a few years according to the stage of the project's completion, compared with having to fork out the entire purchase price upfront when buying a completed property in the secondary market. This would appeal especially to specuvestors.
Some market watchers also say the seller's stamp duty, which is aimed at discouraging short-term property trading, has shrunk the pool of properties available for sale in the subsale market, again shrinking the secondary market's share of deals.
Credo Real Estate's analysis of URA caveats data shows that out of a total of 29,094 caveats lodged for private home purchases (excluding executive condos) last year, 43.3 per cent were from the primary market, up from a 38.8 per cent share in 2010.
The secondary market - which covers resales (involving sales of projects that are completed, that is, which have received Certificate of Statutory Completion, or CSC) and subsales (involving projects without CSC) - saw the volume of deals shrinking 26.7 per cent last year, and sending the secondary market's share sliding from 61.2 per cent in 2010 to 56.7 per cent last year.
Mapping the primary and secondary market shares against land sales all the way back to the 1990s, Credo concluded that a major reason for increases in proportion of primary market sales is the surge of primary market new supply, especially after active periods of Government Land Sales (GLS) and collective sales.
'In response to the buoyant market in the mid-90s, we saw active GLS and en bloc sales between 1994 and 1997, and this led to increasing primary market share while secondary market proportion declined up to 1998,' observes Credo Real Estate executive director Ong Teck Hui.
'Declining land sales in 1997 and its absence in 1998 reduced primary market share in 1999/2000 but a pick-up of land sales in 1999/2000 caused primary market share to increase in 2001/02.
'Subdued land sales from 2001 to 2005 resulted in falling primary market share between 2003 and 2008.'
For 2008, the proportion of private homes sold in the primary market plunged to a low of 30.2 per cent.
Although land sales picked up in 2006/07, 2008 was a bad year with many launches held back.
'However, a resumption of new project sales in 2009 saw the primary market share increasing. And of course the robust GLS and en bloc sale market recovery in 2010 contributed to a further increase in primary market share in 2011,' commented Mr Ong.
He also offers a reason for property specuvestors to favour buying a unit in a new project from a developer rather than a completed property in the secondary market.
'The revised seller's stamp duty (SSD) imposed in January 2011 could also have led some investors to prefer primary market properties where they minimise their capital exposure due to progress payments. Also by the time the property is completed in about three years, they would be penalised only by a relatively small 4 per cent SSD if they sell in the fourth year, or escape it altogether if they hold a bit longer,' said Mr Ong. This would appeal to someone who does not want to have to find a tenant for a newly completed property, he added.
A developer says the SSD regime has caused the supply of properties available for sale in the secondary market, especially in the subsale market, to shrink.
The SSD is set at 16, 12, 8 and 4 per cent for those who buy a private home from Jan 14, 2011 and sell it within the first, second, third and fourth year of purchase respectively.
The developer reckons the additional buyer's stamp duty (ABSD), which took effect on Dec 8 last year, will also dry up secondary market transactions. 'A foreigner who's not a Singapore permanent resident may not want to give up his existing property here because if he buys another property in Singapore, he would have to pay a 10 per cent ABSD on it,' he explains.
'The ABSD and SSD have changed the dynamics of the willing buyer-willing seller interaction,' he added. 'Shrinking volumes in the secondary market aren't a good thing because interior designers, renovation contractors, agents doing home leasing will all be affected.'
DTZ's Southeast Asia chief operating officer Ong Choon Fah expects the primary market share of private home purchases to continue to increase vis-a-vis the secondary market, pointing to a still substantial quantum of new homes launched by developers on sites acquired from the GLS programme. 'Those who've bought properties (after Jan 13, 2011) will be subject to the SSD, which reduces the availability of properties for sale in the secondary market.'
Copyright © 2010 Singapore Press Holdings Ltd. All rights reserved.
RESALE Market is dead meat.....:o
:o
RESALE Market is dead meat.....:o
"Dead meat"? not so sure.... owners are holding on....
Anyone has seen fire-sales... I haven't....:(
Where's the 20% discount B has promised?:beats-me-man:
"Dead meat"? not so sure.... owners are holding on....
Anyone has seen fire-sales... I haven't....:(
Where's the 20% discount B has promised?:beats-me-man:
Suites 28 penthouse at flat rate 700k regardless of sizes.
From 8xx- 9xx size, wf jaccuzi
Suites 28 penthouse at flat rate 700k regardless of sizes.
From 8xx- 9xx size, wf jaccuzi
Ya but only 4xx sqft usable space...rest is roof top + jacuzzi.....liao lui!
Ya but only 4xx sqft usable space...rest is roof top + jacuzzi.....liao lui!
earlier other projects launch, also got penthouse and big terrace+ jucuzzi..
but prices not so low...:D
phantom_opera
23-01-12, 08:13
The year of dragon could see the following MMs breaking 2kpsf :scared-4:
PARC IMPERIAL PASIR PANJANG ROAD Condominium 1 720,000 398 Strata 1,808psf Dec-11
ALEXIS ALEXANDRA ROAD Apartment 1 698,000 388 Strata 1,801psf Nov-11
The year of dragon could see the following MMs breaking 2kpsf :scared-4:
PARC IMPERIAL PASIR PANJANG ROAD Condominium 1 720,000 398 Strata 1,808psf Dec-11
ALEXIS ALEXANDRA ROAD Apartment 1 698,000 388 Strata 1,801psf Nov-11
神经病！！！ :doh: :doh: :doh:
The year of dragon could see the following MMs breaking 2kpsf :scared-4:
PARC IMPERIAL PASIR PANJANG ROAD Condominium 1 720,000 398 Strata 1,808psf Dec-11
ALEXIS ALEXANDRA ROAD Apartment 1 698,000 388 Strata 1,801psf Nov-11
Happy to see Parc imperial come so far. When it was launched, studio cost just 300k+?
The year of dragon could see the following MMs breaking 2kpsf :scared-4:
PARC IMPERIAL PASIR PANJANG ROAD Condominium 1 720,000 398 Strata 1,808psf Dec-11
ALEXIS ALEXANDRA ROAD Apartment 1 698,000 388 Strata 1,801psf Nov-11
The figures are a swan song. ECs will hold back any further price increase. $7xx k can buy you a nice 3 bedder in a decent location.
CM has little impact because they have been targeting the wrong group. :simmering:
earlier other projects launch, also got penthouse and big terrace+ jucuzzi..
but prices not so low...:D
....there you go again, if you can quote the price and area, and compare useable space.....otherwise just another empty can you are banging....no liao one...
The figures are a swan song. ECs will hold back any further price increase. $7xx k can buy you a nice 3 bedder in a decent location.
...ya EC will hold back, for awhile at least, cos those who bought will stop cursing for price to drop, they will then cheer for price to increase instead when they get their keys, and louder would be the cheer when the 5 years are up....smart move by Uncle Khaw......
CM5 has limited effect because not ALL foreigners are affected. Read carefully. As long as you are from FTA county, you are accorded the same privileges as a Singapore Citizen (SC).
http://www.iras.gov.sg/irasHome/page04.aspx?id=12822
Foreigners under Free Trade Agreements (FTAs)
Foreigners of certain nationalities who fall within the scope of the respective FTAs will be accorded with the same treatment as SCs.
Nationals and Permanent Residents of:-
United States of America
Switzerland
Liechtenstein
Norway
IcelandSuch buyers are required to submit an application for remission so as to enjoy the same treatment as SCs.
It has affected the resale market by grinding it to a crawl.
learnt from a reliable source that the 10% ABSD could be removed or lower for the first property for foreign buyers
Hi all!
While u r busy typing here, I just came back from Watertown.
Guess how many units they have sold as at 2PM today ?
More than 520 units !!!
So, FEO alone sold more than ONE THOUSAND units in Jan 2012!
What is CM ? Contributing Measures ?
I predict that in Jan 2012, there will be a <super> strong rebound from the 6xx units sold in Dec 2011. But if you, like me have been driving around the showflats, you will know its not a pure prediction.
Huat Ah!
DKSG
Stay Calm and Cool
PS : I sold most properties in 2011 ... so .. now watching prices crawling up 1% per 2-3 months ... :confused:
CM5 has limited effect because not ALL foreigners are affected. Read carefully. As long as you are from FTA county, you are accorded the same privileges as a Singapore Citizen (SC).
http://www.iras.gov.sg/irasHome/page04.aspx?id=12822
I think mass buyers are from India (prime district) and China and to a lesser exten Indonesia and Malaysia .
So to a certain degree, the above means relatively little or nothing as US not that keen in buying.
Hi all!
While u r busy typing here, I just came back from Watertown.
Guess how many units they have sold as at 2PM today ?
More than 520 units !!!
So, FEO alone sold more than ONE THOUSAND units in Jan 2012!
What is CM ? Contributing Measures ?
I predict that in Jan 2012, there will be a <super> strong rebound from the 6xx units sold in Dec 2011. But if you, like me have been driving around the showflats, you will know its not a pure prediction.
Huat Ah!
DKSG
Stay Calm and Cool
PS : I sold most properties in 2011 ... so .. now watching prices crawling up 1% per 2-3 months ... :confused:
great we can later buy cheaper fm them when interest rate doubles.
Cm5 removed when rate goes up.
let's c
anyway, buyers 4 MM projects dun analyze much to surroundings. they look at their own wallet size. check type of ppl who buy n size sold
no disct no vouchers u think can sell?
buyers like pasar malam style ..raise price then drop ..gd deal
offer real price low ..no buy. no discount.
no disct no vouchers u think can sell?
buyers like pasar malam style ..raise price then drop ..gd deal
offer real price low ..no buy. no discount.
520?? Everyone has a lot of spare time after visiting friends and relatives eh?
was told, there is a likelihood that the ABSD might be reduced or removed for foreigners for their first property
whats there to cheer about? only the new launches are doing well.
rest of the resale market out there is not moving at all.
nothing to be jubilant about actually...cm5 is effective imo.:cheers6:
profile of buyers?
520 size of unit sold?
remove ABSD - agst d intention of cooling mkt.
every1 says foreigners no care abt 10% stamp duty. why remove? it is not wht ppl say? agents said foreigners wth $$ dun care abt 10% absd
now it is nt d case.
resale mkt dead? ura today..let's check how many sold?
2 scare others 2 jump in?
becoz every1 thinks mkt will bounce up if remove ABsd
but actually no remove ABSD..gd tactic.
ura no data out 4 jan 2012?
wht happened every1 on holiday?
bluedurian
24-01-12, 20:53
was told, there is a likelihood that the ABSD might be reduced or removed for foreigners for their first property
Without any disrespect whatsoever, how accurate is your source?
Without any disrespect whatsoever, how accurate is your source?
the source could have been accurate until they saw the latest sales in watertown.
what a start for the "water dragon year".
bluedurian
24-01-12, 21:14
the source could have been accurate until they saw the latest sales in watertown.
what a start for the "water dragon year".
Wouldn't the Watertown sales just confirm that the ABSD was a poorly reasoned and populist move which penalised the wrong crowd instead?
(On that basis, I imagine the MND/MAS wouldn't be too quick to repeal CM5, just to save face.)
Wouldn't the Watertown sales just confirm that the ABSD was a poorly reasoned and populist move which penalised the wrong crowd instead?
(On that basis, I imagine the MND/MAS wouldn't be too quick to repeal CM5, just to save face.)
well, maybe they wanted to put some flood gates for the possibility of tsunami of foreign money. and now it's clearer who's driving the market, they can have even more targeted responses *shudder*. the gulf between resale and new sale is once again widening.
was told, there is a likelihood that the ABSD might be reduced or removed for foreigners for their first property
It can't be so fast. You mean REDAS was eventually consulted and their views were accepted?
bluedurian
24-01-12, 21:27
It can't be so fast. You mean REDAS was eventually consulted and their views were accepted?
I actually find that a really funny scenario.
check with our minister
this is 2 get all to jump in? n create activities.
if foreigner buys wth lower LTV 60% then ok.
foreigner buys wth high LTV 85% nt OK. if mkt crashes, foreigner runs n banks keep d property.
told by who? agents? get all 2 buy. no biz. mkt dead
well, maybe they wanted to put some flood gates for the possibility of tsunami of foreign money. and now it's clearer who's driving the market, they can have even more targeted responses *shudder*. the gulf between resale and new sale is once again widening.
Trust me. CM5 is EFFECTIVE in preventing foreign money flowing into places like Watertown. Though most foreigners are not interested in places like Punggol, if they see the strong local demand, many will just jump in.
Without CM5, there is a chance that Watertown would have hit 700 units last weekend!
DKSG
Stay Calm and Cool
Jonathan0503
25-01-12, 12:30
Trust me. CM5 is EFFECTIVE in preventing foreign money flowing into places like Watertown. Though most foreigners are not interested in places like Punggol, if they see the strong local demand, many will just jump in.
Without CM5, there is a chance that Watertown would have hit 700 units last weekend!
DKSG
Stay Calm and Cool
But what is the real reason for discouraging foreign money from pouring into OCR properties?
If it's to prevent property prices from escalating higher, it certainly did not meet it's objective, whether its being bought by locals or foreigners, as obvious in Watertown
But what is the real reason for discouraging foreign money from pouring into OCR properties?
If it's to prevent property prices from escalating higher, it certainly did not meet it's objective, whether its being bought by locals or foreigners, as obvious in Watertown
i think there's more to just only a single factor of hot foreign money that is contributing to escalating property prices.
what about SLA's refusal to accept lower tender bids, e.g. oue bidding for the paya lebar land parcel, multiple rejected land bids during 2009/2010? if the government is artificially propping land prices, then it must accept partial responsibility for runaway property prices too
I believe the developers will still price it at current market prices for the same locality (and facilities, characteristics etc) even if the land bids are accepted at a lower price. Just higher profits but i get what you're trying to say. It takes two to clap.
But what is the real reason for discouraging foreign money from pouring into OCR properties?
If it's to prevent property prices from escalating higher, it certainly did not meet it's objective, whether its being bought by locals or foreigners, as obvious in Watertown
The government is NOT trying to prevent prices from escalating la! They are saying, if locals push up the prices, then its ok, they are not to blame.
If foreigners are seen to be pushing up prices, they lose their votes - get it ?
DKSG
Stay Calm and Cool
Jonathan0503
25-01-12, 15:25
The government is NOT trying to prevent prices from escalating la! They are saying, if locals push up the prices, then its ok, they are not to blame.
If foreigners are seen to be pushing up prices, they lose their votes - get it ?
DKSG
Stay Calm and Cool
Ok, this I agree
The government is NOT trying to prevent prices from escalating la! They are saying, if locals push up the prices, then its ok, they are not to blame.
If foreigners are seen to be pushing up prices, they lose their votes - get it ?
DKSG
Stay Calm and Cool
while i agree with you on this point, i believe the message, by the government, is really contradictory (or even, hypocritical). first, the finance minister says the CMs are there to deter an influx of easy money and thereby, the implementation of CM6. shortly after, the next joker (MND minister) says that foreigners are not to blame for increase in asset prices of re-sale HDB, but rich locals.
then why the implementation of ABSD, since private housing prices were already stablizing by then? doesn't this look like another guise to prop up governmental coffers (like the ERP)? i believe CM4 has served its purpose and there's no need for CM5 unless there are real signs that hot money is flowing into singapore.
while i agree with you on this point, i believe the message, by the government, is really contradictory (or even, hypocritical). first, the finance minister says the CMs are there to deter an influx of easy money and thereby, the implementation of CM6. shortly after, the next joker (MND minister) says that foreigners are not to blame for increase in asset prices of re-sale HDB, but rich locals.
then why the implementation of ABSD, since private housing prices were already stablizing by then? doesn't this look like another guise to prop up governmental coffers (like the ERP)? i believe CM4 has served its purpose and there's no need for CM5 unless there are real signs that hot money is flowing into singapore.
Again, trust me. There ARE signs of hot money flowing in last year. And if left unchecked is likely to create an impact you wont want to see. Well it depends on whether u are buying or selling also la. If u are selling, u probably want the hot money to come in and push up prices 10-20-30%. But consider the political impact for the gov. They cant afford that.
DKSG
Stay Calm and Cool
Allthepies
25-01-12, 16:40
while i agree with you on this point, i believe the message, by the government, is really contradictory (or even, hypocritical). first, the finance minister says the CMs are there to deter an influx of easy money and thereby, the implementation of CM6. shortly after, the next joker (MND minister) says that foreigners are not to blame for increase in asset prices of re-sale HDB, but rich locals.
then why the implementation of ABSD, since private housing prices were already stablizing by then? doesn't this look like another guise to prop up governmental coffers (like the ERP)? i believe CM4 has served its purpose and there's no need for CM5 unless there are real signs that hot money is flowing into singapore.
CM6 will be even more interesting, it could be something like this: "To curb strong rental demand for HDB flats which cause escalating hdb prices, all private properties shall be subjected to 5 years MOP" :scared-4:
phantom_opera
25-01-12, 16:42
CM6:
HDB COV will be temporarily suspended until enough supply of HDBs reach the market
:scared-1:
and our garmen admitted rental will continue to go up:
"Notably, the continued increase in housing rentals, due to a temporary shortage of completed dwellings, will cause imputed rentals on owner-occupied accommodation to rise further in the near term," MAS and MTI added.
CM6 will be even more interesting, it could be something like this: "To curb strong rental demand for HDB flats which cause escalating hdb prices, all private properties shall be subjected to 5 years MOP" :scared-4:
Good try! But it does reflect your lack of understanding (pls pardon me for being blunt).
Do you think the current set of buyers now are thinking of selling within 4 years ? After forking out 40% deposit, subjecting themselves to extra stamp duty (when buying 3rd or more properties), subjecting themselves to additional selling stamp duty (if sold within 4 years) ?
Most people who buys now (and pushing up prices) are prepared to hold for 4 years or longer.
DKSG
Stay Calm and Cool
CM6 will be even more interesting, it could be something like this: "To curb strong rental demand for HDB flats which cause escalating hdb prices, all private properties shall be subjected to 5 years MOP" :scared-4:
Good try! But it does reflect your lack of understanding (pls pardon me for being blunt).
Do you think the current set of buyers now are thinking of selling within 4 years ? After forking out 40% deposit, subjecting themselves to extra stamp duty (when buying 3rd or more properties), subjecting themselves to additional selling stamp duty (if sold within 4 years) ?
Most people who buys now (and pushing up prices) are prepared to hold for 4 years or longer.
DKSG
Stay Calm and Cool
Hehe... I think its a joke lah..... stay calm stay cool leh
Happy New Year to everyone.
Geylang OKT
25-01-12, 17:17
To buy singapore properties at this juncture now shows a lack of mental agility and situational awareness :D :D :D
To buy singapore properties at this juncture now shows a lack of mental agility and situational awareness :D :D :D
Spoken like a chess player (or is it chest player?:ashamed1: )
CM6:
HDB COV will be temporarily suspended until enough supply of HDBs reach the market
:scared-1:
and our garmen admitted rental will continue to go up:
"Notably, the continued increase in housing rentals, due to a temporary shortage of completed dwellings, will cause imputed rentals on owner-occupied accommodation to rise further in the near term," MAS and MTI added.
if you suspend COV by law, 2 things can happen:
1) sellers expect valuers to match up; if not
2) sellers withdraw units from market, worsening the supply tightness situation.
this method won't work. COV needn't exist i feel if valuations flowed more freely according to demand like in PC.
In summary, I would like to make the statement that CM5 has got its effect. It did moderated sales to foreigners. Without which Watertown would have sold 700 units by now and prices is likely to be 5% more.
CM5 did not put a hard stop to buying. Sales in Jan 2012 will like see a <super> strong rebound of more than 50% from the 6xx units sold. Gosh! Watertown alone may hit 6xx units in Jan 2012!
Those analyst who predicted a 30% drop should be asked to write a follow up review on what went wrong with their data modelling. Else going forward, stop publishing their views.
DKSG
Stay Calm and Cool
CM6 will be all property speculators , facilitators, buyers and sellers will be executed on the spot. Thus all transaction freezed. problem solved
CM6 will be all property speculators , facilitators, buyers and sellers will be executed on the spot. Thus all transaction freezed. problem solved
Why do government want to do that ?
You have to remember what is the long term objective we are trying to achieve. To provide a conducive property environment for gradual appreciation.
Price sure have to increase, the question is, how to control the speed.
Crashing it forcefully will only make 80% of people vote against the government. Just like if they lose 50% of our CPF.
Think! Think! Think!
I know there are many people waiting to buy, me included, but we cannot blind ourselves and keep chanting drop drop drop. We need to be sensitive of whats happening, is demand picking up? Interest rates going down? etc
DKSG
Stay Calm and Cool
Why do government want to do that ?
You have to remember what is the long term objective we are trying to achieve. To provide a conducive property environment for gradual appreciation.
Price sure have to increase, the question is, how to control the speed.
Crashing it forcefully will only make 80% of people vote against the government. Just like if they lose 50% of our CPF.
Think! Think! Think!
I know there are many people waiting to buy, me included, but we cannot blind ourselves and keep chanting drop drop drop. We need to be sensitive of whats happening, is demand picking up? Interest rates going down? etc
DKSG
Stay Calm and Cool
US is keeping interest rate low until 2014. Likely to have another QE to stimulate the economy due to presidential election. If our banks here also maintain low rates, it is likely to fuel another round of property bubble. Gold prices and stocks have shot up globally.
Very likely for CM6 to be implemented this year if demand is still strong > 1000 units per months and psf continues to climb. If Punggol can hit > $1200 psf, Capitaland's Bishan is more or less guaranteed to hit >$1400 psf and Jurong East can hit >$1600 psf. I'm reversing my stand from slightly negative to slightly positive outlook for property this year. I suggest you to buy now instead of continue to wait - for own stay. Paper money will depreciate badly.
phantom_opera
27-01-12, 06:43
if you suspend COV by law, 2 things can happen:
1) sellers expect valuers to match up; if not
2) sellers withdraw units from market, worsening the supply tightness situation.
this method won't work. COV needn't exist i feel if valuations flowed more freely according to demand like in PC.
Sellers can withdraw from market but no COV means any transaction, is at the mercy of HDB valuers
Of course, illegal COV may be the norm, volume will be super low, may be 1k for a year :(
If it is temporary till interest rate is up, it is not unthinkable
The idea of COV is like a bidding system. With or without written approval, it will still exist. An owner simply reject offers that only just met the valuation of the unit and agent will then advise potential buyers to up the price and see if owner will sell... no need to say COV or no COV... it can still take place in the dark... :sleep:
phantom_opera
27-01-12, 08:16
The idea of COV is like a bidding system. With or without written approval, it will still exist. An owner simply reject offers that only just met the valuation of the unit and agent will then advise potential buyers to up the price and see if owner will sell... no need to say COV or no COV... it can still take place in the dark... :sleep:
You will be surprised how many Singaporeans are law abiding citizens :tsk-tsk: If this temporary measure can cut the resale volume by half and make HDB resale price index flat for next 2y... it has achieved its aim
ikan bilis
27-01-12, 08:21
You will be surprised how many Singaporeans are law abiding citizens :tsk-tsk: If this temporary measure can cut the resale volume by half and make HDB resale price index flat for next 2y... it has achieved its aim
it will not work bcoz... hdb will be controlling both cov and valuation pricing.. which means hdb is setting price in resale market... then there will be another group of people kpkb selling public housing cheap cheap to pr... :D
phantom_opera
27-01-12, 08:25
it will not work bcoz... hdb will be controlling both cov and valuation pricing.. which means hdb is setting price in resale market... then there will be another group of people kpkb selling public housing cheap cheap to pr... :D
Well, you can choose not to sell right? If forced selling (e.g. financial hardship) ... HDB valuer can help :tongue3: The key thing is it is only for 2y, after that COV will come back again ... ;)
It is market manipulation ... :o
Such measures, if any, will just challenge sellers and buyers, along with housing agents to devise new ways of doing transactions to avoid any unnecessary restrictions imposed... Loop holes are always there to be exploited, no matter how hardy measures are... :p Btw, loop holes are not infringing rules and regulations... just going around them... :spliff:
COV helps to differentiate the price premium for better located flats and also better facing units.
i would think it is necessary to have this component in the resale market.
should implement a 10yr MOP on subletting and one continue to stay in HDB after purchasing a flat. That will kill those demand who are buying flats as an investment and also leave upgradders with no choice of keeping their flats for rental once they decide to upgrade to a condo.
In my opinion, HDB should never be treated as an investment tool and should only serve as a basic roof over our head.
Whereas private property should not have too much restriction and making HDB flats look like a better investment option over private properties. This is very wrong.
back to the older days, HDB will write letters and encourage those HDB owners to sell their flats after they bought a private property.
And it is because of the growing trend of citizens treating HDB as an investment tool, 1st timers are getting very choosy for their BTO flats. Many of them buy with a huge profit in mind after the 5yr MOP period.
This is again very wrong.
Have you ever wondered why HDB resale flats prices used to be flat for a long time?
I believe partly due to the fact that COV was underdeclared or not even declared at all last time.
In my opinion, HDB should never be treated as an investment tool and should only serve as a basic roof over our head.
Whereas private property should not have too much restriction and making HDB flats look like a better investment option over private properties. This is very wrong.
The govt will be very unpopular amongst the electorate f they were to kill the cash cow of HDB flat as so many S'poreans are relying on this for their upgrading plans. And somemore, they would deprive the incoming FT from having reasonably-priced accomodation. That would be double trouble.
You will be surprised how many Singaporeans are law abiding citizens :tsk-tsk: If this temporary measure can cut the resale volume by half and make HDB resale price index flat for next 2y... it has achieved its aimIn an open market, anything goes... govt may stamp out COV but buyers can still say 'I am willing to pay more in order to secure a unit that I like' in the name of personal preference and the law cannot stop that. :doh: There is no fraud or bribery here... :rolleyes:
S'pore Q4 pte home prices +0.2% vs Q3
S'pore Q4 pte home prices +0.2% vs Q3
SINGAPORE - The 0.2 per cent rise in private home prices during the fourth quarter according to latest date from the Urban Redevelopment Board is the same as the 0.2 per cent flash estimate it reported earlier this month.
Prices of non-landed private residential properties rose 0.5 per cent in the core central region, 0.1 per cent in the rest of the central region and 0.6 per cent outside the central region.
S'pore Q4 pte home prices +0.2% vs Q3
S'pore Q4 pte home prices +0.2% vs Q3
SINGAPORE - The 0.2 per cent rise in private home prices during the fourth quarter according to latest date from the Urban Redevelopment Board is the same as the 0.2 per cent flash estimate it reported earlier this month.
Prices of non-landed private residential properties rose 0.5 per cent in the core central region, 0.1 per cent in the rest of the central region and 0.6 per cent outside the central region.So what does this imply? Prices have been rising over the last few quarters although at a much slower pace recently but CM5 still appeared. So what does the govt want to achieve? :rolleyes:
ikan bilis
27-01-12, 12:22
So what does this imply? Prices have been rising over the last few quarters although at a much slower pace recently but CM5 still appeared. So what does the govt want to achieve? :rolleyes:
... more votes... lost less no of grc... :cool:
... more votes... lost less no of grc... :cool:Well putting things in perspective, slowing down housing prices benefits only a small group of buyers but an equal number of sellers will not be happy. In that sense, the votes equals out. Then again, slowing down housing prices would also cause the remaining majority of home owners to lose paper value in their existing houses and that may potentially translate to further reduction of votes too.... lowering housing prices may not win too many votes for govt after all... hmmm... :rolleyes:
rattydrama
27-01-12, 12:32
Have you ever wondered why HDB resale flats prices used to be flat for a long time?
I believe partly due to the fact that COV was underdeclared or not even declared at all last time.
the demand was low for hdb resale flat in the past. also there are alot of unsold ready unit from the government.
ikan bilis
27-01-12, 12:37
Well putting things in perspective, slowing down housing prices benefits only a small group of buyers but an equal number of sellers will not be happy. In that sense, the votes equals out. Then again, slowing down housing prices would also cause the remaining majority of home owners to lose paper value in their existing houses and that may potentially translate to further reduction of votes too.... lowering housing prices may not win too many votes for govt after all... hmmm... :rolleyes:
.... wayang... kicked horse out, pulled cow in.... :cool:
why all still c elections as key driver dun think so. its over 4 yrs later talk
it is d bigger picture
ask ard resale moving?
The govt will be very unpopular amongst the electorate f they were to kill the cash cow of HDB flat as so many S'poreans are relying on this for their upgrading plans. And somemore, they would deprive the incoming FT from having reasonably-priced accomodation. That would be double trouble.
I do not agree to this.
Normally, upgradders need to Trade up.
It is those who are better off wants to upgrade and keep hdb for rental at the same time. But what is the consequences? Resale prices drives up too rapidly and causing unhappiness.
We have to control the FT floodgate. It is really causing too much unhappiness to our society when u let in too many FT within a short span of time. By relaxing the subletting rules for our public housing for the sake of a huge oncoming FT is really a very bad move and very shortsighted.
get FT put more$$ on table. if want 2 rent must get approval.
caught send FT home.
the demand was low for hdb resale flat in the past. also there are alot of unsold ready unit from the government.
Yes there are other factors but what i mentioned is part of the equation.
If cov is allowed to go under table, valuations will remain flat. Do you agree?
I do not agree to this.
Normally, upgradders need to Trade up.
It is those who are better off wants to upgrade and keep hdb for rental at the same time. But what is the consequences? Resale prices drives up too rapidly and causing unhappiness.
We have to control the FT floodgate. It is really causing too much unhappiness to our society when u let in too many FT within a short span of time. By relaxing the subletting rules for our public housing for the sake of a huge oncoming FT is really a very bad move and very shortsighted.
The shortsightedness is alteady been felt. Resales price remains high, more Owners are keeping their HDB for rental after buying condo.
News reported the current increase of hdb rental is very small % compares to 1mil hdb flats built. There are more HDB rental to come when existing new launches TOP 2 to 3 yrs down the road. A good cash cow indeed and everyone knows with superb rental yield. No where to find :tongue3:
why all still c elections as key driver dun think so. its over 4 yrs later talk
it is d bigger picture
ask ard resale moving?
Resale is slowing down. This is mainly due to many owners pulling their units out of the market.
For CM5, it literally kills off most units owned by foreigners. If you are a foreigner and own say 5 units in Singapore, at this point in time you will NEVER want to sell any of the units. Just sit back and collect rental and see what comes next. In the past, you can buy sell buy sell make money, now ? Cannot lo. So what do u do ? U hold tight tight and will only sell when prices become crazy. This inherently drastically decreased the supply in the market.
Resale is also slowing down as these same foreigners who used to buy sell buy sell now dont want to buy any more units. So demand also drop.
I think your ultimate question is : Will prices crashed so that you can pick up a unit in Cosmopolitan (just an example hor) for $1,500 psf ? No way!
Going forward, prices will remain range bound, waiting for any major good news to come out of the US or Europe so that there is reasons to move prices up again. If those factors are not present, people just hold.
Developers land bank is depleting very fast. For every piece of land they have now, they die die must squeeze the most out of it. I hope u can understand that.
Hope the above can give you ONE of the perspective in the market.
DKSG
Stay Calm and Cool
get FT put more$$ on table. if want 2 rent must get approval.
caught send FT home.
This one I agree. F ( resent to call them T) should not be allowed to profit from our HDB market here without additional taxes. They must understand that public housing is for them to stay, not to invest.
Government should consider taxing HDB gains for those F leaving Singapore and cashing out of their HDB units. Say a 75% tax on gains should be good enough.
DKSG
Stay Calm and Cool
..........
Government should consider taxing HDB gains for those F leaving Singapore and cashing out of their HDB units. Say a 75% tax on gains should be good enough.
DKSG
Stay Calm and Cool
wont that reduce supply of resale HDB in the market, driving price higher?
Govt should just ban PRs from buying HDB flats (resale or not)! Then, they can only rent! Protect citizens and their HDB rental cashcow!
Govt should also ban foreigners (non-PRs) from renting HDB flats! Protect the citizens and their private properties rental!
This is the only meaningful way for "Asset enhancement" going forward for both Citizens owning HDB flats & private properties! All citizens (regardless of the 80% HDB owners or 20% private property owners) will then vote for PAP! :p
This one I agree. F ( resent to call them T) should not be allowed to profit from our HDB market here without additional taxes. They must understand that public housing is for them to stay, not to invest.
Government should consider taxing HDB gains for those F leaving Singapore and cashing out of their HDB units. Say a 75% tax on gains should be good enough.
DKSG
Stay Calm and Cool
let's wait n c
i place my $$ tht prices will not shoot up in next 6 mths
Resale is slowing down. This is mainly due to many owners pulling their units out of the market.
For CM5, it literally kills off most units owned by foreigners. If you are a foreigner and own say 5 units in Singapore, at this point in time you will NEVER want to sell any of the units. Just sit back and collect rental and see what comes next. In the past, you can buy sell buy sell make money, now ? Cannot lo. So what do u do ? U hold tight tight and will only sell when prices become crazy. This inherently drastically decreased the supply in the market.
Resale is also slowing down as these same foreigners who used to buy sell buy sell now dont want to buy any more units. So demand also drop.
I think your ultimate question is : Will prices crashed so that you can pick up a unit in Cosmopolitan (just an example hor) for $1,500 psf ? No way!
Going forward, prices will remain range bound, waiting for any major good news to come out of the US or Europe so that there is reasons to move prices up again. If those factors are not present, people just hold.
Developers land bank is depleting very fast. For every piece of land they have now, they die die must squeeze the most out of it. I hope u can understand that.
Hope the above can give you ONE of the perspective in the market.
DKSG
Stay Calm and Cool
hello cant b2 drastic.
u kill d mkt
rent ban will do. this will c real demand n supply
next CM singaporeans PRs all cant rent out HDB to foreigners
jialat
c whether d mass mkt like bedok n watertown got buyers upgraders
Govt should just ban PRs from buying HDB flats (resale or not)! Then, they can only rent! Protect citizens and their HDB rental cashcow!
Govt should also ban foreigners (non-PRs) from renting HDB flats! Protect the citizens and their private properties rental!
This is the only meaningful way for "Asset enhancement" going forward for both Citizens owning HDB flats & private properties! All citizens (regardless of the 80% HDB owners or 20% private property owners) will then vote for PAP! :p
hello cant b2 drastic.
u kill d mkt
rent ban will do. this will c real demand n supply
next CM singaporeans PRs all cant rent out HDB to foreigners
jialat
c whether d mass mkt like bedok n watertown got buyers upgraders
...you plug one hole, another hole opens up.....if FTs leave....who's gonna do the jobs they do at the salary they accept? ...you are right prop price will tumble because Spore economy will tumble as we will be short of labour......businesses will close down or move out .....and so on.....
Stocks are doing quite well this year. I expect spill-over effect to property soon by HDB upgraders. This is before the probably QE3 sometime this year.
...you plug one hole, another hole opens up.....if FTs leave....who's gonna do the jobs they do at the salary they accept? ...you are right prop price will tumble because Spore economy will tumble as we will be short of labour......businesses will close down or move out .....and so on.....
Sometimes people are really very vicious here! If they have a wish, they probably pray that 20% of Singaporeans lose their jobs and 50,000 people commit sucide (them not included), so that they can buy their properties at dirt cheap prices.
And after they buy, government let in the Fs and push property prices up 50% so that they can sell and make profit.
If the above is what you are hoping for, I seriously think you need help.
We all here (decent reasonable folks) will always wish that the country stay stable, prosper, people are happily and gainfully employed and we become a country of high living standards and people are refined, fulfilled and happy.
To Achieve Happiness, Prosperity and Progress for our Nation!
DKSG
Stay Calm and Cool
Stocks are doing quite well this year. I expect spill-over effect to property soon by HDB upgraders. This is before the probably QE3 sometime this year.
this is what i also worry..more QE means more CM?:p
this is what i also worry..more QE means more CM?:p
QE1 --> CM 1,2,3 --> Property price goes up
QE2 --> CM 4,5 --> Property price goes up (albiet slower)
QE3 --> CM, 6,7,8 --> Property price goes ... you fill in the blanks.
DKSG
Stay Calm and Cool
SIBOR and SOR have all fallen in the last few days. More sales this weekend.
flagship74
28-01-12, 11:38
SIBOR and SOR have all fallen in the last few days. More sales this weekend.
SORF3M:IND 0.37467
Stocks are doing quite well this year. I expect spill-over effect to property soon by HDB upgraders. This is before the probably QE3 sometime this year.
Haha. Stock mkt 4 risk takers
Sell at $1 price go up$2 go in buy $2 then sell at $3 then....
Stock mkt down mkt bad meh?
Stock mkt = mkt very gd le n global economies all gd de?
Lmfao
Employers n westerners r d vicious ones
Tht is d scene now
They cut pay cut bonuses cut jobs
Why? Everything slows down le
Why u talk abt forumers ?
It happened last crisis? Now u c it again
Sometimes people are really very vicious here! If they have a wish, they probably pray that 20% of Singaporeans lose their jobs and 50,000 people commit sucide (them not included), so that they can buy their properties at dirt cheap prices.
And after they buy, government let in the Fs and push property prices up 50% so that they can sell and make profit.
If the above is what you are hoping for, I seriously think you need help.
We all here (decent reasonable folks) will always wish that the country stay stable, prosper, people are happily and gainfully employed and we become a country of high living standards and people are refined, fulfilled and happy.
To Achieve Happiness, Prosperity and Progress for our Nation!
DKSG
Stay Calm and Cool
Fortunately, I am in the recession proof profession. I can see how people suffers in the last crisis. High pay and bonus in good times and all gone durnig downtime.
Employers n westerners r d vicious ones
Tht is d scene now
They cut pay cut bonuses cut jobs
Why? Everything slows down le
Why u talk abt forumers ?
It happened last crisis? Now u c it again
Warning out of good will is one thing. Like I always warn my friends of the dangers of buying OCR at $1,200psf and above. Hit an air pocket and you get screwed big time, but I don't wish for a gigantic crash that will make many homeless.
QE1 --> CM 1,2,3 --> Property price goes up
QE2 --> CM 4,5 --> Property price goes up (albiet slower)
QE3 --> CM, 6,7,8 --> Property price goes ... you fill in the blanks.
DKSG
Stay Calm and Cool
all got $$$? so no impact?
then buy more before spike?
Sometimes people are really very vicious here! If they have a wish, they probably pray that 20% of Singaporeans lose their jobs and 50,000 people commit sucide (them not included), so that they can buy their properties at dirt cheap prices.
And after they buy, government let in the Fs and push property prices up 50% so that they can sell and make profit.
If the above is what you are hoping for, I seriously think you need help.
We all here (decent reasonable folks) will always wish that the country stay stable, prosper, people are happily and gainfully employed and we become a country of high living standards and people are refined, fulfilled and happy.
To Achieve Happiness, Prosperity and Progress for our Nation!
DKSG
Stay Calm and Cool
That is precisely what i am driving at.....some people just want to live up to their Nick......but in reality a pauper so hoping for a big crash.......but little do they realized that unless they are ready with cash to roll in when it crashes....they will remain a pauper as they would probably get hurt in the crash also ...so the cycle continues....
That is precisely what i am driving at.....some people just want to live up to their Nick......but in reality a pauper so hoping for a big crash.......but little do they realized that unless they are ready with cash to roll in when it crashes....they will remain a pauper as they would probably get hurt in the crash also ...so the cycle continues....
Hello I c u all time post general stuff. Tc izit?
Yeah some like 2 cucuk think mkt will crash. Morons fools idiots
Mkt will shoot up in nxt 6 mths
Some random samplings, it is no coincidence I purposely pick all recent transactions which have price gains:scared-5:
ONE AMBER 7 Amber Gardens #05-17 1 118 Strata 1,644,650 13938 1295 13-JAN-2012 Condominium Freehold 2010 Resale
ONE AMBER 7 Amber Gardens #05-17 1 118 Strata 1,371,600 11624 1080 14-OCT-2009 Condominium Freehold Uncompleted Sub Sale
GAIN $273k
RIVERGATE 93 Robertson Quay #21-04 1 140 Strata 2,789,800 19927 1851 12-JAN-2012 Apartment Freehold 2009 Resale
RIVERGATE 93 Robertson Quay #21-04 1 140 Strata 2,338,000 16700 1551 01-JUL-2009 Apartment Freehold 2009 Sub Sale
GAIN $451k
PARC SOPHIA 8 Adis Road #04-06 1 44 Strata 840,000 19091 1774 12-JAN-2012 Apartment Freehold 2011 Sub Sale
PARC SOPHIA 8 Adis Road #04-06 1 44 Strata 750,816 17064 1585 06-AUG-2008 Apartment Freehold Uncompleted New Sale
GAIN $90k
THE WHARF RESIDENCE 7 Tong Watt Road #05-03 1 134 Strata 1,950,000 14552 1352 11-JAN-2012 Condominium 999 Yrs From 01/07/1841 Uncompleted Sub Sale
THE WHARF RESIDENCE 7 Tong Watt Road #05-03 1 134 Strata 1,557,700 11625 1080 02-JUN-2009 Condominium 999 Yrs From 01/07/1841 Uncompleted New Sale
GAIN $392k
CASPIAN 52 Lakeside Drive #04-11 1 111 Strata 1,025,000 9234 858 11-JAN-2012 Condominium 99 Yrs From 17/03/2008 Uncompleted Sub Sale
CASPIAN 52 Lakeside Drive #04-11 1 111 Strata 698,400 6292 585 25-FEB-2009 Condominium 99 Yrs From 17/03/2008 Uncompleted New Sale
GAIN $320k
ONE-NORTH RESIDENCES 7 One-North Gateway #14-12 1 55 Strata 980,000 17818 1655 10-JAN-2012 Apartment 99 Yrs From 15/09/2005 2009 Resale
ONE-NORTH RESIDENCES 7 One-North Gateway #14-12 1 55 Strata 553,800 10069 935 09-SEP-2009 Apartment 99 Yrs From 15/09/2005 2009 Sub Sale
GAIN $420k
SOPHIA RESIDENCE 9 Sophia Road #04-21 1 98 Strata 2,110,000 21531 2000 09-JAN-2012 Condominium Freehold Uncompleted Sub Sale
SOPHIA RESIDENCE 9 Sophia Road #04-21 1 98 Strata 1,738,000 17735 1648 07-SEP-2009 Condominium Freehold Uncompleted New Sale
GAIN $372k
THE VIEW @ MEYER 46 Meyer Road #03-02 1 62 Strata 1,048,000 16903 1570 06-JAN-2012 Apartment Freehold 2009 Resale
THE VIEW @ MEYER 46 Meyer Road #03-02 1 62 Strata 789,300 12731 1183 18-MAY-2007 Apartment Freehold Uncompleted New Sale
GAIN $260k
latest CM was in Nov'11 right? Give it 6 months then we will see whether got impact or not.
Hello I c u all time post general stuff. Tc izit?
Yeah some like 2 cucuk think mkt will crash. Morons fools idiots
Mkt will shoot up in nxt 6 mths
Please read carefully what I wrote....I don't think you comprehend what I was driving at.....hahahaha, Stay Calm and read slowly....maybe you might undersatnd...one day.
Some random samplings, it is no coincidence I purposely pick all recent transactions which have price gains:scared-5:
ONE AMBER 7 Amber Gardens #05-17 1 118 Strata 1,644,650 13938 1295 13-JAN-2012 Condominium Freehold 2010 Resale
ONE AMBER 7 Amber Gardens #05-17 1 118 Strata 1,371,600 11624 1080 14-OCT-2009 Condominium Freehold Uncompleted Sub Sale
GAIN $273k
RIVERGATE 93 Robertson Quay #21-04 1 140 Strata 2,789,800 19927 1851 12-JAN-2012 Apartment Freehold 2009 Resale
RIVERGATE 93 Robertson Quay #21-04 1 140 Strata 2,338,000 16700 1551 01-JUL-2009 Apartment Freehold 2009 Sub Sale
GAIN $451k
PARC SOPHIA 8 Adis Road #04-06 1 44 Strata 840,000 19091 1774 12-JAN-2012 Apartment Freehold 2011 Sub Sale
PARC SOPHIA 8 Adis Road #04-06 1 44 Strata 750,816 17064 1585 06-AUG-2008 Apartment Freehold Uncompleted New Sale
GAIN $90k
THE WHARF RESIDENCE 7 Tong Watt Road #05-03 1 134 Strata 1,950,000 14552 1352 11-JAN-2012 Condominium 999 Yrs From 01/07/1841 Uncompleted Sub Sale
THE WHARF RESIDENCE 7 Tong Watt Road #05-03 1 134 Strata 1,557,700 11625 1080 02-JUN-2009 Condominium 999 Yrs From 01/07/1841 Uncompleted New Sale
GAIN $392k
CASPIAN 52 Lakeside Drive #04-11 1 111 Strata 1,025,000 9234 858 11-JAN-2012 Condominium 99 Yrs From 17/03/2008 Uncompleted Sub Sale
CASPIAN 52 Lakeside Drive #04-11 1 111 Strata 698,400 6292 585 25-FEB-2009 Condominium 99 Yrs From 17/03/2008 Uncompleted New Sale
GAIN $320k
ONE-NORTH RESIDENCES 7 One-North Gateway #14-12 1 55 Strata 980,000 17818 1655 10-JAN-2012 Apartment 99 Yrs From 15/09/2005 2009 Resale
ONE-NORTH RESIDENCES 7 One-North Gateway #14-12 1 55 Strata 553,800 10069 935 09-SEP-2009 Apartment 99 Yrs From 15/09/2005 2009 Sub Sale
GAIN $420k
SOPHIA RESIDENCE 9 Sophia Road #04-21 1 98 Strata 2,110,000 21531 2000 09-JAN-2012 Condominium Freehold Uncompleted Sub Sale
SOPHIA RESIDENCE 9 Sophia Road #04-21 1 98 Strata 1,738,000 17735 1648 07-SEP-2009 Condominium Freehold Uncompleted New Sale
GAIN $372k
THE VIEW @ MEYER 46 Meyer Road #03-02 1 62 Strata 1,048,000 16903 1570 06-JAN-2012 Apartment Freehold 2009 Resale
THE VIEW @ MEYER 46 Meyer Road #03-02 1 62 Strata 789,300 12731 1183 18-MAY-2007 Apartment Freehold Uncompleted New Sale
GAIN $260k
anything u buy in the bottom, 2008-2009.. can make easily 300k.
even a indian condo melville park,lower quatum and still gains 300k.
488k in 2009, 800-820k in 2010.
lower cost, but aso high gains.
but not sure for peak, to make such gains?:D
those who bought at 2008 and sold at 2011...majority earn money...north south east west centre all districts...:p
people interested now when the price will ever even drop back to the level of early 2010 ?
The question is how much they want to earn.
those who bought at 2008 and sold at 2011...majority earn money...north south east west centre all districts...:p
some people like paper profit while some like real hard cash that can bank in...
I believe it is the opportunity cost. No continuous stream of rental income for completed projects and getting lousy interest from bank unless there is higher return investment opportunity.
some people like paper profit while some like real hard cash that can bank in...
thomastansb
31-01-12, 14:49
CM has never made prices to drop. Slowdown a bit maybe but reduction in price - fat hope. Just look at the past 20 years and we will know. So those thinking CM can make the prices affordable, they can dream on. Only a crisis can make prices drop, period.
the way i see people still buy dont care about CM...ha ha...i think govt really scratch head...:p
CM has never made prices to drop. Slowdown a bit maybe but reduction in price - fat hope. Just look at the past 20 years and we will know. So those thinking CM can make the prices affordable, they can dream on. Only a crisis can make prices drop, period.
But hor now got crisis and CM leh...:beats-me-man:
those who bought at 2008 and sold at 2011...majority earn money...north south east west centre all districts...:p
people interested now when the price will ever even drop back to the level of early 2010 ?
Another HUGE Crisis of confidence like what we had in 2008....
Plus lack of liqudity in the market + credit freezes up + banks stop lending and interest rates shoot up by 2-3%...
And this scenario have to play out for at least 9-12months before prices will drop significantly.... if after 6 months it recovers then no effect....
So thos who hope to 30% drop in prices will have to believe that they WROLD's govt and Central Banks will let the above happen, or else......
The best to hope for is 5% drop or prices stagnating
Another HUGE Crisis of confidence like what we had in 2008....
Plus lack of liqudity in the market + credit freezes up + banks stop lending and interest rates shoot up by 2-3%...
And this scenario have to play out for at least 9-12months before prices will drop significantly.... if after 6 months it recovers then no effect....
So thos who hope to 30% drop in prices will have to believe that they WROLD's govt and Central Banks will let the above happen, or else......
The best to hope for is 5% drop or prices stagnating
Looking at the graphs since 1960 till 2011, I think that prices have peaked. Should drop anytime. History of 1997 happening is high, price will drop to lower levels and stay flat at the low level for many years. That low could be around 2009 levels.. which is good enough :D
Looking at the graphs since 1960 till 2011, I think that prices have peaked. Should drop anytime. History of 1997 happening is high, price will drop to lower levels and stay flat at the low level for many years. That low could be around 2009 levels.. which is good enough :D
Look at this graphs.... what causes prices to drop more than 30%? CM or major crisis happening one after the other for a sustained period of time?
Look at this graphs.... what causes prices to drop more than 30%? CM or major crisis happening one after the other for a sustained period of time?
Major crisis. might strike anytime. law of nature. Just like life, with all the ups and downs. The next crisis could well happen in 2016 when PAP lose out to opposition. Poilitical unrest, economic instability etc. Just like Thailand, indonesia.
As much as the living conditions have dropped in the past decade here in Singapore, i don't think it has dropped bad enough to warrant a change in Government.
Just a trip overseas and you'll see that we really have to give our government credit when it's due. I'm happy for oppositions to win more seats to prevent a 2/3 majority though. That's good enough for me.
And this is coming from a social democrat minded person.
As much as the living conditions have dropped in the past decade here in Singapore, i don't think it has dropped bad enough to warrant a change in Government.
Just a trip overseas and you'll see that we really have to give our government credit when it's due. I'm happy for oppositions to win more seats to prevent a 2/3 majority though. That's good enough for me.
And this is coming from a social democrat minded person.
I agree. And am very disheartened to see Singaporeans praying for crisis to our WHOLE nation so that everyone will suffer and they can buy their properties at lower prices. Is this the kind of society we are living in now ?
This was the same of the Martin Place thread, where a poor Ang Mo jump down from the building. All people can say are things like : Cant he jump from other buildings ? This is affect the value of MY property.
Reflect, Reflect, Reflect
DKSG
(PS : Not asking u to buy the condo Reflections)
The main purpose of Control Measure is to slow down the pace of escalating prices (meaning it will still rise but not as fast as an MRT) and not to dive down prices. Many folks misunderstood it and thought property prices going to crash.
We still have a good few years of low interest rates & good employment rate ahead fuelled by the strong Asian economies, so I don't see anytime pple will go out of job and have to firesale their houses.
Aiyah - it's part human nature of City living and part ugly head of Capitalism.
You tend not to find this type of nature in slower-paced towns where community is more important. In major cities - cold hard cash/assets are a measure of success and used as a battering ramp.
But bro, this is the reality - unless you want to move to the kampungs.
Not many here are immune.
I agree. And am very disheartened to see Singaporeans praying for crisis to our WHOLE nation so that everyone will suffer and they can buy their properties at lower prices. Is this the kind of society we are living in now ?
This was the same of the Martin Place thread, where a poor Ang Mo jump down from the building. All people can say are things like : Cant he jump from other buildings ? This is affect the value of MY property.
Reflect, Reflect, Reflect
DKSG
(PS : Not asking u to buy the condo Reflections)
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