View Full Version : Resale already dead… how long can new launches stay hot?
ikan bilis
19-02-12, 10:11
Secondary or resale market is like already dead for a year liow….
How long do you think new launches are going to stay hot-hot?...
- Developers cannot keep shrinking apartments’ size
- Very soon there will be oversupply of MMs
- Very soon all the afraid of “miss the boat” kiasu-investors all boarded on the boat liow
:D :D
Just hope it does not capsized in an overcrowding MM boat. Many people will be caught.
Secondary or resale market is like already dead for a year liow….
How long do you think new launches are going to stay hot-hot?...
- Developers cannot keep shrinking apartments’ size
- Very soon there will be oversupply of MMs
- Very soon all the afraid of “miss the boat” kiasu-investors all boarded on the boat liow
:D :D
I truly truly truly truly believe once these MM buyers get their dream home keys and open the front door into their dream homes, all the pretensions of illusions will come shattering down!
I bought my first and only MM unit in CitySquare Residences, so I'd know. Thankfully, due to the bull run, made good profits and off-loaded it.
On reflection, those projects in city areas can still get tenants, ie people who dont mind living in such tiny units for a short period of time, say 1-2 years and then move on - so, for investors, these MMs still a good buy.
For MMs in suburban areas though, where are you going to get the tenants? Self stay??? There is no way a couple can stay in such units for long without getting into each other's face and if a kid comes along, all hell will break loose.
I foresee a glut of MMs in suburban areas looking for tenants when most will TOP in 2015 onwards + buyers ditching them in 2016 onwards after self-stay maximum 1-2 years...
City area, near to MRTs, MM still can buy and rent out
Suburban areas, imho, better stay well clear of MM... I am quite certain that at least 50% will be very shocked and disappointed!
We are not HK and we should not be like HK!....
We really really really really should lobby the Govt to put a stop to all these MM RUBBISH at the cost of future social problems - since obviously the Developers are obviously not going to voluntarily do so! ... and why should they, when there are seemingly endless MM lemmings falling out from the sky into their laps!
:scared-2:
:47:
I truly truly truly truly believe once these MM buyers get their dream home keys and open the front door into their dream homes, all the pretensions of illusions will come shattering down!
I bought my first and only MM unit in CitySquare Residences, so I'd know. Thankfully, due to the bull run, made good profits and off-loaded it.
On reflection, those projects in city areas can still get tenants, ie people who dont mind living in such tiny units for a short period of time, say 1-2 years and then move on - so, for investors, these MMs still a good buy.
For MMs in suburban areas though, where are you going to get the tenants? Self stay??? There is no way a couple can stay in such units for long without getting into each other's face and if a kid comes along, all hell will break loose.
I foresee a glut of MMs in suburban areas looking for tenants when most will TOP in 2015 onwards + buyers ditching them in 2016 onwards after self-stay maximum 1-2 years...
City area, near to MRTs, MM still can buy and rent out
Suburban areas, imho, better stay well clear of MM... I am quite certain that at least 50% will be very shocked and disappointed!
We are not HK and we should not be like HK!....
We really really really really should lobby the Govt to put a stop to all these MM RUBBISH at the cost of future social problems.
:scared-2:
:47:
smart developers and stupid investors thats the problem...:doh:
Akira Fudou
19-02-12, 11:17
I beg to differ, as long as the price stay high, MM will still be very popular because of the low quantum. If 1 can afford bigger unit (self stay), no one would want to buy MM.
Totally agree.
But demand and supply at work here. Everybody wants to have a piece of the action so developers produce accordingly, WT is prime example.
Gahmen can't ban it either otherwise these group of people will blame the gahmen for preventing them from trying to make money.
Nowadays, it has become politically incorrect for the Gahmen to do something "for your own good".
I truly truly truly truly believe once these MM buyers get their dream home keys and open the front door into their dream homes, all the pretensions of illusions will come shattering down!
I bought my first and only MM unit in CitySquare Residences, so I'd know. Thankfully, due to the bull run, made good profits and off-loaded it.
On reflection, those projects in city areas can still get tenants, ie people who dont mind living in such tiny units for a short period of time, say 1-2 years and then move on - so, for investors, these MMs still a good buy.
For MMs in suburban areas though, where are you going to get the tenants? Self stay??? There is no way a couple can stay in such units for long without getting into each other's face and if a kid comes along, all hell will break loose.
I foresee a glut of MMs in suburban areas looking for tenants when most will TOP in 2015 onwards + buyers ditching them in 2016 onwards after self-stay maximum 1-2 years...
City area, near to MRTs, MM still can buy and rent out
Suburban areas, imho, better stay well clear of MM... I am quite certain that at least 50% will be very shocked and disappointed!
We are not HK and we should not be like HK!....
We really really really really should lobby the Govt to put a stop to all these MM RUBBISH at the cost of future social problems - since obviously the Developers are obviously not going to voluntarily do so! ... and why should they, when there are seemingly endless MM lemmings falling out from the sky into their laps!
:scared-2:
:47:
Really? that did not prevent them from crafting policies that seem to favour people to buy new launch and they benefit from high GLS land sale prices? :beats-me-man:
Totally agree.
But demand and supply at work here. Everybody wants to have a piece of the action so developers produce accordingly, WT is prime example.
Gahmen can't ban it either otherwise these group of people will blame the gahmen for preventing them from trying to make money.
Nowadays, it has become politically incorrect for the Gahmen to do something "for your own good".
Eh i wonder how come this thread turn into MM bashing? The high psf is limited to small units only. God forbid stupid buyers who apply the same rule to regular units - those suckers deserve to be taken for a ride. I have personally seen with my own eyes families squeezing in small MM. Its their choice! Maybe they like the security. Maybe they escape from ah long. All have different reasons but are willing buyers at end of the day. Developers build and has proven to sell out MM units because the demand is really there. Not only investment but self stay. In fact since at least 3 to 5 years there have been many many MM in market that is completed that buyers can take a real good look for themselves before they commit to one on floor plan. So please do not say they are misled. If they commit their life savings on something without doing due diligence is their own fault and nobody else. In the real world, where there is demand there is supply. So i dont see why MM is any more guilty of causing the current state of market then the fact of affordability and quantum which is really the key.
I beg to differ, as long as the price stay high, MM will still be very popular because of the low quantum. If 1 can afford bigger unit (self stay), no one would want to buy MM.
Fully agree on your observation. Property is all about location and also size. Together with price, they seem to form a triangle of equation.
Eh i wonder how come this thread turn into MM bashing? The high psf is limited to small units only. God forbid stupid buyers who apply the same rule to regular units - those suckers deserve to be taken for a ride. I have personally seen with my own eyes families squeezing in small MM. Its their choice! Maybe they like the security. Maybe they escape from ah long. All have different reasons but are willing buyers at end of the day. Developers build and has proven to sell out MM units because the demand is really there. Not only investment but self stay. In fact since at least 3 to 5 years there have been many many MM in market that is completed that buyers can take a real good look for themselves before they commit to one on floor plan. So please do not say they are misled. If they commit their life savings on something without doing due diligence is their own fault and nobody else. In the real world, where there is demand there is supply. So i dont see why MM is any more guilty of causing the current state of market then the fact of affordability and quantum which is really the key.
Yes, market forces should apply, up to an (generous) extent.
Beyond this, Govt should intervene for the social good.
When exactly is this mark, I leave the learned policy scholars to find a truism.
It may well have crossed the mark, mind you.
More MM, more IMH in future.
:47:
Yes, market forces should apply, up to an (generous) extent.
Beyond this, Govt should intervene for the social good.
When exactly is this mark, I leave the learned policy scholars to find a truism.
It may well have crossed the mark, mind you.
More MM, more IMH in future.
:47:
I do agree there are potential socio problems that may result from proliferation of MM but again would like to reiterate govt should let market forces decide. As long as people are buying, it will continue to be produced. But with the new ruling of showflat authenticity plus many live MM units for potential buyers to scrutinise there is absolutely no more excuse to say one is misled into buying an MM.
New launches will continue to stay hot coz of so much pent up demand... by the time new launches cool off, resale will kick in again.... its a tidal current... hmmm... :)
Allthepies
19-02-12, 14:32
have stagger LTV to make larger unit more affordable.with stagger ltv, developers have no choice but to build larger units.to move their units they have to lower psf too :) e.g.300sqft 20%LTV, 400sqft30%LTV, 500sqft40%LTV and so on
I truly truly truly truly believe once these MM buyers get their dream home keys and open the front door into their dream homes, all the pretensions of illusions will come shattering down!
I bought my first and only MM unit in CitySquare Residences, so I'd know. Thankfully, due to the bull run, made good profits and off-loaded it.
On reflection, those projects in city areas can still get tenants, ie people who dont mind living in such tiny units for a short period of time, say 1-2 years and then move on - so, for investors, these MMs still a good buy.
For MMs in suburban areas though, where are you going to get the tenants? Self stay??? There is no way a couple can stay in such units for long without getting into each other's face and if a kid comes along, all hell will break loose.
I foresee a glut of MMs in suburban areas looking for tenants when most will TOP in 2015 onwards + buyers ditching them in 2016 onwards after self-stay maximum 1-2 years...
City area, near to MRTs, MM still can buy and rent out
Suburban areas, imho, better stay well clear of MM... I am quite certain that at least 50% will be very shocked and disappointed!
We are not HK and we should not be like HK!....
We really really really really should lobby the Govt to put a stop to all these MM RUBBISH at the cost of future social problems - since obviously the Developers are obviously not going to voluntarily do so! ... and why should they, when there are seemingly endless MM lemmings falling out from the sky into their laps!
:scared-2:
:47:
You raised many valid points.
However, those who bought MMs in suburban areas probably have done so in places very near MRT & transport/amenities. As long as rents are cheaper than city, arguably there is still a market. For example, singles who like the seawater sports may opt for places with seaview or near beaches.
Resale market may be quiet, but prices are are not correcting and still near or at historic highs for many non luxury condos. There is a thread here discussing on potential firesales but practically almost impossible to find one.
You know most owners would still stick to their selling prices right now. Very hard even to negotiate. Many owners in this forum would do likewise because their holding power is high and many bought them very cheap and do not think market will correct.
It would be interesting to know the take up rate at the various MM condo launches in CCR after ABSD, since ABSD has limited effect on the suburban launches. That would give some indication of the market direction for this sector.
How much higher can the rental of such MMs be as compared to the nearby hdb in suburban?
You raised many valid points.
However, those who bought MMs in suburban areas probably have done so in places very near MRT & transport/amenities. As long as rents are cheaper than city, arguably there is still a market. For example, singles who like the seawater sports may opt for places with seaview or near beaches.
Resale market may be quiet, but prices are are not correcting and still near or at historic highs for many non luxury condos. There is a thread here discussing on potential firesales but practically almost impossible to find one.
You know most owners would still stick to their selling prices right now. Very hard even to negotiate. Many owners in this forum would do likewise because their holding power is high and many bought them very cheap and do not think market will correct.
It would be interesting to know the take up rate at the various MM condo launches in CCR after ABSD, since ABSD has limited effect on the suburban launches. That would give some indication of the market direction for this sector.
I look at this differently.
All the action in the new launches, will eventually spill over to the resale market.
especially the lower quantum resale units, either MMs or older developments.... when the buyers realize the tremendous premium the new sales are commanding.
It is the CMs and lower quantum of MM (but high $psf) that divert the buyers to new launches.
I look at this differently.
All the action in the new launches, will eventually spill over to the resale market.
especially the lower quantum resale units, either MMs or older developments.... when the buyers realize the tremendous premium the new sales are commanding.
It is the CMs and lower quantum of MM (but high $psf) that divert the buyers to new launches.
Yes as long as 4 years seller stamp duty, new launch will be hot. Buyer is using the construction years to tie over the stamp duty. Nothing new here. :spliff:
Nothing will change unless policy change. Too bad for resale market
No lost to people who buy to keep and earn rental income. Especially those who bought few years ago.
Yes as long as 4 years seller stamp duty, new launch will be hot. Buyer is using the construction years to tie over the stamp duty. Nothing new here. :spliff:
Nothing will change unless policy change. Too bad for resale market
I look at this differently.
All the action in the new launches, will eventually spill over to the resale market.
especially the lower quantum resale units, either MMs or older developments.... when the buyers realize the tremendous premium the new sales are commanding.
Yes that is inevitable if the gulf becomes too wide.
Regulators
19-02-12, 17:39
What is so bad about the resale market. Won't all new condos become resale the moment they TOP?
Yes as long as 4 years seller stamp duty, new launch will be hot. Buyer is using the construction years to tie over the stamp duty. Nothing new here. :spliff:
Nothing will change unless policy change. Too bad for resale market
I would say that the current resale market for PC is in a state of distortion because of the high PSF prices of new launches which are mostly for small units. This has resulted in owners of older developments also asking for high PSF despite theirs being bigger units. Many foreigners and non-savvy buyers paid high PSF for these older developments during the past few years and now served as guided prices for future owners wanting to sell their bigger units.
The high PSF prices of new small units are causing price distortion somewhat in the resale market. Wonder how could this state of distortion becomes more distinct as sellers and buyers await for each other?
Then how you explain the neighbouring resale properties selling at 25-40% discount to new launch? Units bigger means $psf must be lower? Reason being many marginal buyers of new launch and need to buy "micky mouse" units to be able to afford the much smaller absolute quantum and yet willing to pay super high $PSF vs resale? :scared-2:
I would say that the current resale market for PC is in a state of distortion because of the high PSF prices of new launches which are mostly for small units. This has resulted in owners of older developments also asking for high PSF despite theirs being bigger units. Many foreigners and non-savvy buyers paid high PSF for these older developments during the past few years and now served as guided prices for future owners wanting to sell their bigger units.
The high PSF prices of new small units are causing price distortion somewhat in the resale market. Wonder how could this state of distortion becomes more distinct as sellers and buyers await for each other?
Yes, may be when new launch prices exceed 50% more than nearby resale price? As it is now, govt policies has the intended or unintended effect of making it more favorable to buy new launch due to 4-years SSD, progressive downpayment for new launch especially after LTV lowered to 60%, afraid of not being to rent out if buy resale since govt slowing foreigners intake etc. :beats-me-man:
I look at this differently.
All the action in the new launches, will eventually spill over to the resale market.
especially the lower quantum resale units, either MMs or older developments.... when the buyers realize the tremendous premium the new sales are commanding.
I would say that the current resale market for PC is in a state of distortion because of the high PSF prices of new launches which are mostly for small units. This has resulted in owners of older developments also asking for high PSF despite theirs being bigger units. Many foreigners and non-savvy buyers paid high PSF for these older developments during the past few years and now served as guided prices for future owners wanting to sell their bigger units.
The high PSF prices of new small units are causing price distortion somewhat in the resale market. Wonder how could this state of distortion becomes more distinct as sellers and buyers await for each other?
The NUS SRPI is created specifically to address this. It is foc to reference i believe.
Yes, may be when new launch prices exceed 50% more than nearby resale price? As it is now, govt policies has the intended or unintended effect of making it more favorable to buy new launch due to 4-years SSD, progressive downpayment for new launch especially after LTV lowered to 60%, afraid of not being to rent out if buy resale since govt slowing foreigners intake etc. :beats-me-man:
Herd mentality notwithstanding, i do know people who jump in now eyes wide open citing they know the project only become a full expense to sustain upon TOP. They are usually quite rosy on the rental potential if not possible capital appreciation. To put it bluntly, they see no end to the price rise and better to one leg in a project they like or can afford first. So its kiasu + kiabo (the bo here means dont have not the wife)
When the crash comes, may be they will have excuse to blame govt for making it so much easier for them to decide to buy new launch vs resale (because of all those rules) and hence they ended up paying a super premium and lose money & possibly their property as well? :p
Many of these buyers are super bullish and thankful to govt for releasing so many GLS land which resulted in all these super-priced new launch currently which they have ample selections to choose from. But.... Oh gosh! These people will vote opposition in 2016 (after crash)? :scared-1:
Herd mentality notwithstanding, i do know people who jump in now eyes wide open citing they know the project only become a full expense to sustain upon TOP. They are usually quite rosy on the rental potential if not possible capital appreciation. To put it bluntly, they see no end to the price rise and better to one leg in a project they like or can afford first. So its kiasu + kiabo (the bo here means dont have not the wife)
Originally Posted by teddybear
Yes, may be when new launch prices exceed 50% more than nearby resale price? As it is now, govt policies has the intended or unintended effect of making it more favorable to buy new launch due to 4-years SSD, progressive downpayment for new launch especially after LTV lowered to 60%, afraid of not being to rent out if buy resale since govt slowing foreigners intake etc. :beats-me-man:
The NUS SRPI is created specifically to address this. It is foc to reference i believe.
Exactly! Question is how many people are aware of the index? The fact is the said index actually reflects what these foreigners and non-savvy buyers paid.
When market goes South, one of the 1st ones to suffer are MM owners :doh:
Too many people buy into MM without actually seeing a TOP MM, they only see showrooms which are quite often altered. Once you step into a MM, you'll realised how small the actual unit is :eek:
When market goes South, one of the 1st ones to suffer are MM owners :doh:
Too many people buy into MM without actually seeing a TOP MM, they only see showrooms which are quite often altered. Once you step into a MM, you'll realised how small the actual unit is :eek:
in 2008, i bgt a 797sqft studio at 342k..
wad says you on the MM price if market goes south?? :D
in 2008, i bgt a 797sqft studio at 342k..
wad says you on the MM price if market goes south?? :D
A 797 sqft studio is different from a 797 sq ft 3-bedroom apartment.
Then how you explain the neighbouring resale properties selling at 25-40% discount to new launch? Units bigger means $psf must be lower? Reason being many marginal buyers of new launch and need to buy "micky mouse" units to be able to afford the much smaller absolute quantum and yet willing to pay super high $PSF vs resale? :scared-2:
The new launches despite the high $psf will set a new standard price level for older resale.
In 2010, accompanied my friend to see an orchard resale unit, owner wanted $2.3kpfs. The reasoning? nearby new launches asking for >$2.5kpfs.
Despite my advice, friend bought. 2 years later, he is now laughing all the way to the bank. Recently, he wanted to sell. Nearby launches now asking >$3kpfs. He is using the same logic for his sale price.
So new launches invariably will set new price landmarks for older units in the area. What the gap should be is dependent on age of property and other factors. Though in some situations, the gap can be quite astonishing and bizarre. For example, the hotly subscribed The glydebourne at Trevose area went for median $2100-2200pfs when launched in early 2011, whereas comparable older FH condo Trevose Park just 50 m away, with almost identical land area and no. of units cost around $1200-1300pfs.
What is so bad about the resale market. Won't all new condos become resale the moment they TOP?
Nothing of bad or good. Just the recent CMs had benefited investor particularly in OCR to buy new launches. Lower cash up front even 60%LTV and lower impact on SSD while waiting for condo to TOP.
upon TOP if cannot sell still can rent out either flat or condo. Definitely a option hard to resist that the situation provides. :cheers6:
in 2008, i bgt a 797sqft studio at 342k..
wad says you on the MM price if market goes south?? :D
Was talking about MM with >2 bedtooms not a 797sqft studio. Studio is much better than multi room MM which feels like living in a closet. You did well buying a studio at that price then. Pratically any unit purchased in 2008 has increased dramatically today. So time to sell before market goes South :)
The buyers buying resale private properties at 30-40% discount to new launch properties are non-savvy? :confused:
Then what should you call those that buy new launch properties at 35-50% premium to resale properties? Real carrot head? :doh:
Exactly! Question is how many people are aware of the index? The fact is the said index actually reflects what these foreigners and non-savvy buyers paid.
I have been pondering over this "premium" between new old, town suburban for some time also.
The only new point I can contribute here is that the premium people are willing to pay for new vs old condo may have changed over years. In the past, people may not be willing to pay more than 10-15% for new condos over old, but now maybe this has changed. Newer generation may have grown up in a "I Want, I must Have" era and their dislike for older condos maybe stronger than their parents.
This may spill over to the suburban and town condos. I am not saying town condos will be cheaper than suburban, BUT, the discount of suburb over town may have eroded over the years also.
Just my small contribution to this discussion.
DKSG
Stay Calm and Cool
in 2008, i bgt a 797sqft studio at 342k..
wad says you on the MM price if market goes south?? :D
I say i feel very sorry for whoever bought a 342sqfeet studio for 797k
In 2011
I doubt that is the real reason for wanting to pay at 35-50% premium. If really this is the real reason, good news for developers! They should price their new launch at 100-500% premium to resale properties! Just like premium branded bag sellers like Hermes pricing their leather bag at 1000x (or 100,000%) premium to normal leather bags! Ops! But OCR condos are not exactly what people would associate with "premium", "branded" to justify the premium.... :p
As a matter of fact, even resale second hand Hermes bags still cost 500-800x more than normal leather bags! (they have so good resale value that they many only sell at 20% discount to new Hermes bag! Some resale Hermes bags are even more expensive than new ones because they are limited edition! No more in production!). :beats-me-man:
I have been pondering over this "premium" between new old, town suburban for some time also.
The only new point I can contribute here is that the premium people are willing to pay for new vs old condo may have changed over years. In the past, people may not be willing to pay more than 10-15% for new condos over old, but now maybe this has changed. Newer generation may have grown up in a "I Want, I must Have" era and their dislike for older condos maybe stronger than their parents.
This may spill over to the suburban and town condos. I am not saying town condos will be cheaper than suburban, BUT, the discount of suburb over town may have eroded over the years also.
Just my small contribution to this discussion.
DKSG
Stay Calm and Cool
Only a handful of developments can be called premium and those are found mainly in CCR. Almost all the rest of the developments are average or just above average; hence do not deserve the premium prices. Developers are just trying to push to the limit the prices buyers willing to bear and make their profits. As long as there are willing buyers willing to buy at these prices, they will sell.
Foreigners and some less resourceful local buyers who find new launches too expensive would likely to buy resale at higher PSF comparing these older developments with the new launches. Sellers also price their apartments base on the nearby new launch prices. With prices at the peak and all the CMs and economic outlook, people are taking a step back. Savvy investors who like resale are not buying since 2011 so the resale market has been quite since.
the main reason I believe is due to 60% LTV. developer have to reduce the size to make it affordable.
with 200k capital, you can pay a 1mil property with 80% LTV. It shrinks to 500k with 60% LTV. I believe many is constrained by the quantum and the lure of low interest rate enviroment together with the perceived high yield projection.
You can only find 5xxk quantum in new launches. Resale market you need about 650k even for the shoebox and in fact higher psf.
All these refering to mass market projects.
As for CCR projects, I believe 60% LTV do not have much effect on the buyers in general. However the latest 10% absd on foreigners had killed all the interest?
I am sorry if this is a silly question, you can whack me for being a carrot head....what is the definition of MM (mass-market)? What is the cut-off for number of units/size of units?
I am sorry if this is a silly question, you can whack me for being a carrot head....what is the definition of MM (mass-market)? What is the cut-off for number of units/size of units?
mm=mickey mouse...:D
mm=mickey mouse...:D
MM = mickey mouse? mass market? Or are they the same thing? :p
MM = mickey mouse? mass market? Or are they the same thing? :p
MM = Shoe boxes units smaller than 500sqft
MM = mickey mouse? mass market? Or are they the same thing? :pIts Mickey Mouse referring to shoe box units... :o
the main reason I believe is due to 60% LTV. developer have to reduce the size to make it affordable.
with 200k capital, you can pay a 1mil property with 80% LTV. It shrinks to 500k with 60% LTV. I believe many is constrained by the quantum and the lure of low interest rate enviroment together with the perceived high yield projection.
You can only find 5xxk quantum in new launches. Resale market you need about 650k even for the shoebox and in fact higher psf.
All these refering to mass market projects.
As for CCR projects, I believe 60% LTV do not have much effect on the buyers in general. However the latest 10% absd on foreigners had killed all the interest?
I think you are very right on the LTV part. In fact, there are combinations of reasons for the resale market to be quiet.
I recalled early last year, I was viewing an old FH development in Upper East Coast Road. The owner was asking for about $1000 psf because the new launches nearby were selling for more than $1300 psf. With me was another agent with his Indonesian client viewing the same unit. The next day, I called up the agent asking for more information and was told that the unit was sold to the Indonesian at the asking price. Need I say more?
The new launches despite the high $psf will set a new standard price level for older resale.
In 2010, accompanied my friend to see an orchard resale unit, owner wanted $2.3kpfs. The reasoning? nearby new launches asking for >$2.5kpfs.
Despite my advice, friend bought. 2 years later, he is now laughing all the way to the bank. Recently, he wanted to sell. Nearby launches now asking >$3kpfs. He is using the same logic for his sale price.
So new launches invariably will set new price landmarks for older units in the area. What the gap should be is dependent on age of property and other factors. Though in some situations, the gap can be quite astonishing and bizarre. For example, the hotly subscribed The glydebourne at Trevose area went for median $2100-2200pfs when launched in early 2011, whereas comparable older FH condo Trevose Park just 50 m away, with almost identical land area and no. of units cost around $1200-1300pfs.
If the 2 are really comparable, what will happen to their respective prices 5 to 10 years down the road? Isn't Trevose Park a good buy then because Glydebourne's pricing provides a buffer? Or, will the gap between the 2 be there forever?
I think you are very right on the LTV part. In fact, there are combinations of reasons for the resale market to be quiet.
I recalled early last year, I was viewing an old FH development in Upper East Coast Road. The owner was asking for about $1000 psf because the new launches nearby were selling for more than $1300 psf. With me was another agent with his Indonesian client viewing the same unit. The next day, I called up the agent asking for more information and was told that the unit was sold to the Indonesian at the asking price. Need I say more?
Do not worry anymore, foreigners are out of scene for the time being. You can do your shopping at ease now.
i am not sure whether foreigner will be able to accept 10% and start coming back again?
If the 2 are really comparable, what will happen to their respective prices 5 to 10 years down the road? Isn't Trevose Park a good buy then because Glydebourne's pricing provides a buffer? Or, will the gap between the 2 be there forever?
I will definitely pick the lower priced older project. spend 20k to spice up the unit and should be able to achieve higher rental yield immediately without any 3-4yrs waiting time.
Mickey mouse usually mean less than 500 sqft.... Mass market means those condo in OCR area below 1200 psf
I will definitely pick the lower priced older project. spend 20k to spice up the unit and should be able to achieve higher rental yield immediately without any 3-4yrs waiting time.$20k can't really achieve much... My new condo reno already cost me about $20k without living room TV console even... :doh:
$20k can't really achieve much... My new condo reno already cost me about $20k without living room TV console even... :doh:
do not have to spend so much for rental.
I will not spend 100k renovation for rental purposes. 20k is more than enough for 1500sqft apartment for some basic renovation.
I doubt you can get this for 1200 - 1300 psf these days. Asking prices 1500 and upwards. This location is good. Walking distance to top school (SCGS) and probably also within 1km to ACS Barker (? not sure on this). Probably also within walking distance to MRT on Downtown Line.
I say i feel very sorry for whoever bought a 342sqfeet studio for 797k
In 2011
Different. His 342k 797sf is Vista Park whereas yours probably Espada.
Mickey mouse usually mean less than 500 sqft.... Mass market means those condo in OCR area below 1200 psf
Hi CCR,
So condos in OCR over 1200 psf = not mass market?
Or are they still OCR but overpriced(?) on current pricing.
The new launches despite the high $psf will set a new standard price level for older resale.
In 2010, accompanied my friend to see an orchard resale unit, owner wanted $2.3kpfs. The reasoning? nearby new launches asking for >$2.5kpfs.
Despite my advice, friend bought. 2 years later, he is now laughing all the way to the bank. Recently, he wanted to sell. Nearby launches now asking >$3kpfs. He is using the same logic for his sale price.
So new launches invariably will set new price landmarks for older units in the area. What the gap should be is dependent on age of property and other factors. Though in some situations, the gap can be quite astonishing and bizarre. For example, the hotly subscribed The glydebourne at Trevose area went for median $2100-2200pfs when launched in early 2011, whereas comparable older FH condo Trevose Park just 50 m away, with almost identical land area and no. of units cost around $1200-1300pfs.
This just illustrated another solid case of property investment rule. Always buy near where there are potential upcoming new launches. The new ones will definitely pull your old lady price up. Its almost a guarantee.
Astronotus oscellatus
20-02-12, 12:53
This just illustrated another solid case of property investment rule. Always buy near where there are potential upcoming new launches. The new ones will definitely pull your old lady price up. Its almost a guarantee.
Ask means sure can get?
In theory, it's always sounds easier than the actual execution.
It's only when market (stock/property/currency) is quiet/flatlined that all these arm-chair theories come out.
Hi CCR,
So condos in OCR over 1200 psf = not mass market?
Or are they still OCR but overpriced(?) on current pricing.
They are definitely not mass market... the reason why its call Mass market is not due to location but if the upgraders can afford it...
Up to 2 years ago mass market condos are those below 1000 psf, but with the introduction of compact 3 bedrooms at 900+psf, its nows 1200 and below liao... lol...
Asset inflation quite scary...
But I am not complaining, I am vested in CCR all the way...
It mean that the higher OCR prices rises, the more undervalued CCR prices are so in time it will up...
I DEFINITELY DO NOT subscribe to the school of thought that says OCR prices can catch up with CCR and close the gap coz our transportation is now better..
No matter how great our transportation and amenties are in OCR, it is targeted at a different segment of the buyers... Real buyers of CCR properties are not looking at just amenities but the addresses as well...
PS: I would like to declare that I am not in anyway implying that OCR is not good, they are definitely getting better.... but there will always be a big difference.. HK and London are great examples.... they have much better transportation network than SIN but the price difference is at at 4-6 times...
CCR will always be Investment Grade...like Blue Chip
OCR is more like your 3rd tier - almost penny stocks ...when interest dries up, rates go too high or HDB prices correct - OCR will suffer. But that's not to say that OCR cannot temporarily keep it's high-valuation ...but lets not think it's Investment Grade...
They are definitely not mass market... the reason why its call Mass market is not due to location but if the upgraders can afford it...
Up to 2 years ago mass market condos are those below 1000 psf, but with the introduction of compact 3 bedrooms at 900+psf, its nows 1200 and below liao... lol...
Asset inflation quite scary...
But I am not complaining, I am vested in CCR all the way...
It mean that the higher OCR prices rises, the more undervalued CCR prices are so in time it will up...
I DEFINITELY DO NOT subscribe to the school of thought that says OCR prices can catch up with CCR and close the gap coz our transportation is now better..
No matter how great our transportation and amenties are in OCR, it is targeted at a different segment of the buyers... Real buyers of CCR properties are not looking at just amenities but the addresses as well...
PS: I would like to declare that I am not in anyway implying that OCR is not good, they are definitely getting better.... but there will always be a big difference.. HK and London are great examples.... they have much better transportation network than SIN but the price difference is at at 4-6 times...
Astronotus oscellatus
20-02-12, 14:15
CCR will always be Investment Grade...like Blue Chip
OCR is more like your 3rd tier - almost penny stocks ...when interest dries up, rates go too high or HDB prices correct - OCR will suffer. But that's not to say that OCR cannot temporarily keep it's high-valuation ...but lets not think it's Investment Grade...
But I have never been able to afford CCR and have only ever invested in OCR, and to declare that my investment is penny stocks...wah lau eh...never mind...penny stocks for me as I only have pennies!
I never say you can't make money off penny stocks/CCR - in fact the ones that play in that segment tend to make more ratio-wise.
I'm merely relating that CCR is true Investment Grade to foreigners.
Would you invest in a kampung in Malaysia or just in KL/Penang?
Its the same theory ...
Sorry if you took offence...I did not mean to do that...
But I have never been able to afford CCR and have only ever invested in OCR, and to declare that my investment is penny stocks...wah lau eh...never mind...penny stocks for me as I only have pennies!
Astronotus oscellatus
20-02-12, 14:23
I never say you can't make money off penny stocks/CCR - in fact the ones that play in that segment tend to make more ratio-wise.
I'm merely relating that CCR is true Investment Grade to foreigners.
Would you invest in a kampung in Malaysia or just in KL/Penang?
Its the same theory ...
Sorry if you took offence...I did not mean to do that...
Don't worry...not hurt...cos I made money from OCR, quantum lose to CCR, but more than I can ever earn from holding a job even for a lifetime.
Penny stocks oso can make it!
Exactly what I meant ...ratio-wise you made more than the mega-rich CCR investors ...so celebrate.
Don't worry...not hurt...cos I made money from OCR, quantum lose to CCR, but more than I can ever earn from holding a job even for a lifetime.
Penny stocks oso can make it!
Different. His 342k 797sf is Vista Park whereas yours probably Espada.
vista park smelled the enbloc fever,
espada need another few decades..:D
however vista park kena the enbloc stucked
Actually, is resale really dead? Though lesser than before, I still see S'poreans / PRs buying for own stay.
And, I think the SG market is so resilient, only external influences can dent the property market. Have been waiting for a "correction" /crash since last year but everytime after the cooling measures were introduced, prices continue to stay high. :beats-me-man:
Actually, is resale really dead? Though lesser than before, I still see S'poreans / PRs buying for own stay.
And, I think the SG market is so resilient, only external influences can dent the property market. Have been waiting for a "correction" /crash since last year but everytime after the cooling measures were introduced, prices continue to stay high. :beats-me-man:
as long as interest rate is 1% plus people still buy...:2cents:
buying interest for resale picking up. Have been receiving unsolicited calls from agents recently.
To buy or sell?
buying interest for resale picking up. Have been receiving unsolicited calls from agents recently.
To buy or sell?
agents asking me whether i am selling.
i do not understand your question.
I already said 'buying interest for resale picking up' I believe it is very clear?
agents asking me whether i am selling.
i do not understand your question.
I already said 'buying interest for resale picking up' I believe it is very clear?
Wow serious? thats good news for all property owners....
vista park smelled the enbloc fever,
espada need another few decades..:D
however vista park kena the enbloc stucked
Ya la. And 99LH cant wait forever... But the grounds are sprawling i heard.
Ask means sure can get?
Not 100% la but high chance. Nothing is Sure in this world ok.
They are definitely not mass market... the reason why its call Mass market is not due to location but if the upgraders can afford it...
Up to 2 years ago mass market condos are those below 1000 psf, but with the introduction of compact 3 bedrooms at 900+psf, its nows 1200 and below liao... lol...
Asset inflation quite scary...
But I am not complaining, I am vested in CCR all the way...
It mean that the higher OCR prices rises, the more undervalued CCR prices are so in time it will up...
I DEFINITELY DO NOT subscribe to the school of thought that says OCR prices can catch up with CCR and close the gap coz our transportation is now better..
No matter how great our transportation and amenties are in OCR, it is targeted at a different segment of the buyers... Real buyers of CCR properties are not looking at just amenities but the addresses as well...
PS: I would like to declare that I am not in anyway implying that OCR is not good, they are definitely getting better.... but there will always be a big difference.. HK and London are great examples.... they have much better transportation network than SIN but the price difference is at at 4-6 times...
I agree. There definitely is a need for differentiation in order for both segments to work (win) in tandem. Otherwise people dunno what they are buying and cant slap a value to it... You cant say OCR is Affordable until you compare with CCR. Likewise you cant say the latter is Prime or Prestigious until there is reference against the former. In short, the lesser makes the better ones look good. Its all relative.
Wow serious? thats good news for all property owners....
Am sure you agree one case does not a pattern make
buying interest for resale picking up. Have been receiving unsolicited calls from agents recently.
They are having lack of work due to low resale volume. Otherwise nothing to do but lim kopi. I wouldn't jump to that conclusion so quickly.
Oh..... uh ok
agents asking me whether i am selling.
i do not understand your question.
I already said 'buying interest for resale picking up' I believe it is very clear?
agents asking me whether i am selling.
i do not understand your question.
I already said 'buying interest for resale picking up' I believe it is very clear?
ah good old agents what would the world do without them....:D:D:D
Rental prices down 20% in Singapore (http://forums.condosingapore.com/property-management-news/2012/2/32377/rental-prices-down-20-in-singapore)
Feb 21, 2012 - PropertyGuru.com.sg
Singapore has been ranked as the ninth most expensive city to rent in a new report – but evidence from recent weeks suggest rental prices may have already dropped by 20 percent since the start of the year.
One agent told PropertyGuru (http://www.propertyguru.com.sg/) she had just signed a deal to let a property that was previously priced at S$24,000 per month for just S$19,000 per month. The landlord had previously rejected a S$22,000 offer just a matter of weeks ago.
These examples are not unique – and calls to other agents who specialise in rentals (http://www.propertyguru.com.sg/singapore-property-listing/property-for-rent/1) indicate that prices have plunged in the opening weeks of the year. Many are reporting a lack of tenants – especially foreigners – and a certain degree of panic from landlords who are sitting on expensive properties with no prospect of an immediate income.
Echoing these experiences is real estate salesperson Deborah Law of Expat Realtor. She told PropertyGuru: "There are new companies still moving their employees to Singapore, but more and more people are being put onto local packages and downsizing, hence big ticket properties are staying longer on the market. In my experience this year, rental prices are dropping as landlords are worried about more supply than demand right now."
The ECA International report collated rental prices for three-bedroom properties during September 2011. It ranked Singapore as ninth globally and the third most expensive city in Asia behind Hong Kong and Tokyo.
ECA’s research also noted that more than 90 percent of companies sending employees on international assignment contribute to the cost of accommodation in the host country. Expatriates tend to gravitate towards particular areas within cities because of the location of international schools, embassies or social focal points. These often tend to be the more expensive, prestigious areas in a city.
"Depending on how companies provide housing or allowances to their assignees, currency movements can have a big impact on such costs for a company,” explained Lee Quane, Regional Director, ECA International, Asia. “In Singapore rents have risen by just 3 percent in local currency, but the strength of the Singapore dollar means that when we convert these prices into U.S. dollars for comparison, the increase stands at 15 percent. Companies need to regularly review their housing allowances and polices in order to keep up with fluctuations."
Official data from Singapore’s Urban Redevelopment Authority (URA) for first quarter rental statistics will not be published until the end of April.
Most expensive cities in Asia to rent a three-bedroom property:
1. Hong Kong
2. Tokyo
3. Singapore
4. Mumbai
5. Seoul
6. Shanghai
7. New Delhi
8. Beijing
9. Taipei
They are having lack of work due to low resale volume. Otherwise nothing to do but lim kopi. I wouldn't jump to that conclusion so quickly.
yeah always heard " come and view to offer, just tell me what price u want, let me talk to owner, I am the 3rd agent already"...very commongly heard nowaday....:p ..upgrader mostly cheong to EC or new one which is priced now more reasonable compared to resale esp at suburban...(not mixed devpt pls...):o
simple
underpriced, overpriced. smart investors
existing condos underpriced?
new projects are overpriced?
same 4 prime district
Rental prices down 20% in Singapore (http://forums.condosingapore.com/property-management-news/2012/2/32377/rental-prices-down-20-in-singapore)
Feb 21, 2012 - PropertyGuru.com.sg
Singapore has been ranked as the ninth most expensive city to rent in a new report – but evidence from recent weeks suggest rental prices may have already dropped by 20 percent since the start of the year.
One agent told PropertyGuru (http://www.propertyguru.com.sg/) she had just signed a deal to let a property that was previously priced at S$24,000 per month for just S$19,000 per month. The landlord had previously rejected a S$22,000 offer just a matter of weeks ago.
These examples are not unique – and calls to other agents who specialise in rentals (http://www.propertyguru.com.sg/singapore-property-listing/property-for-rent/1) indicate that prices have plunged in the opening weeks of the year. Many are reporting a lack of tenants – especially foreigners – and a certain degree of panic from landlords who are sitting on expensive properties with no prospect of an immediate income.
Echoing these experiences is real estate salesperson Deborah Law of Expat Realtor. She told PropertyGuru: "There are new companies still moving their employees to Singapore, but more and more people are being put onto local packages and downsizing, hence big ticket properties are staying longer on the market. In my experience this year, rental prices are dropping as landlords are worried about more supply than demand right now."
The ECA International report collated rental prices for three-bedroom properties during September 2011. It ranked Singapore as ninth globally and the third most expensive city in Asia behind Hong Kong and Tokyo.
ECA’s research also noted that more than 90 percent of companies sending employees on international assignment contribute to the cost of accommodation in the host country. Expatriates tend to gravitate towards particular areas within cities because of the location of international schools, embassies or social focal points. These often tend to be the more expensive, prestigious areas in a city.
"Depending on how companies provide housing or allowances to their assignees, currency movements can have a big impact on such costs for a company,” explained Lee Quane, Regional Director, ECA International, Asia. “In Singapore rents have risen by just 3 percent in local currency, but the strength of the Singapore dollar means that when we convert these prices into U.S. dollars for comparison, the increase stands at 15 percent. Companies need to regularly review their housing allowances and polices in order to keep up with fluctuations."
Official data from Singapore’s Urban Redevelopment Authority (URA) for first quarter rental statistics will not be published until the end of April.
Most expensive cities in Asia to rent a three-bedroom property:
1. Hong Kong
2. Tokyo
3. Singapore
4. Mumbai
5. Seoul
6. Shanghai
7. New Delhi
8. Beijing
9. Taipei
The high priced rentals are facing resistance.... How about the lower priced ones? Has any forumers faced problem renting out properties in the 2 to 4k range?
I dun like this property guru article. Not because of its topic, but because of its content, and the way it's presented.
It reminds me of Chinese Internet "news" reports, full of "according to sources" etc. There is no substance.
1st of all, a 20k rental is not your ordinary rental units. Second, there is no validation of the info. I simply dun believe an owner rejecting 22k offer " a few weeks ago" and yet accepting 19k in such a short time. I highly suspect this is a cooked up story, just like many Chinese Internet "news".
This reminds me of another report a few weeks ago saying "CCR prices had dropped 20% !". after close inspection, u will realize it's the average price of CCR pties traded had dropped 20%, not the prices of pty. :rolleyes:
For rental, as of today, the only public available data is URA rental index. Q4 2011 is mostly flat or slightly up. U can just pick some popular D9/10 project to look.
Personally I do not have a feel of the market , as all my rentals are not due until next year. Members in this forum probably have more actual info than this pty guru "one agent".
HDB rental keep going up. Got a friend 's tenant just renewed his room flat (whole flat) at $2200 per mth, near Yee Tee MRT...:scared-3:
Yup.. HDB rental as well as prices are still creeping upwards. My colleague offered 3 room olf HDB flat in the far west at 3 months ago's valuation but kana rejected. Seller still looking for COV plus an additional increased valuation price. :scared-3:
Yup.. HDB rental as well as prices are still creeping upwards. My colleague offered 3 room olf HDB flat in the far west at 3 months ago's valuation but kana rejected. Seller still looking for COV plus an additional increased valuation price. :scared-3:
With the latest budget offerings, Gahmen giving $15k cash + $5k CPF money for senior citizen who sell their bigger flats and downgrade to 3 room HDB or smaller; with this 3room flat prices sure to go higher, maybe COV will be higher..; overheard an auntie at hawker centre telling her friends that she is going to cash in and downgrade...:scared-3:
See Silver housing bonus
http://www.singaporebudget.gov.sg/budget_2012/key_initiatives/families1.html
a certain degree of panic from landlords who are sitting on expensive properties
Landlords from this segment panic???:confused:
Rental prices down 20% in Singapore (http://forums.condosingapore.com/property-management-news/2012/2/32377/rental-prices-down-20-in-singapore)
Feb 21, 2012 - PropertyGuru.com.sg
Singapore has been ranked as the ninth most expensive city to rent in a new report – but evidence from recent weeks suggest rental prices may have already dropped by 20 percent since the start of the year.
One agent told PropertyGuru (http://www.propertyguru.com.sg/) she had just signed a deal to let a property that was previously priced at S$24,000 per month for just S$19,000 per month. The landlord had previously rejected a S$22,000 offer just a matter of weeks ago.
These examples are not unique – and calls to other agents who specialise in rentals (http://www.propertyguru.com.sg/singapore-property-listing/property-for-rent/1) indicate that prices have plunged in the opening weeks of the year. Many are reporting a lack of tenants – especially foreigners – and a certain degree of panic from landlords who are sitting on expensive properties with no prospect of an immediate income.
Echoing these experiences is real estate salesperson Deborah Law of Expat Realtor. She told PropertyGuru: "There are new companies still moving their employees to Singapore, but more and more people are being put onto local packages and downsizing, hence big ticket properties are staying longer on the market. In my experience this year, rental prices are dropping as landlords are worried about more supply than demand right now."
The ECA International report collated rental prices for three-bedroom properties during September 2011. It ranked Singapore as ninth globally and the third most expensive city in Asia behind Hong Kong and Tokyo.
ECA’s research also noted that more than 90 percent of companies sending employees on international assignment contribute to the cost of accommodation in the host country. Expatriates tend to gravitate towards particular areas within cities because of the location of international schools, embassies or social focal points. These often tend to be the more expensive, prestigious areas in a city.
"Depending on how companies provide housing or allowances to their assignees, currency movements can have a big impact on such costs for a company,” explained Lee Quane, Regional Director, ECA International, Asia. “In Singapore rents have risen by just 3 percent in local currency, but the strength of the Singapore dollar means that when we convert these prices into U.S. dollars for comparison, the increase stands at 15 percent. Companies need to regularly review their housing allowances and polices in order to keep up with fluctuations."
Official data from Singapore’s Urban Redevelopment Authority (URA) for first quarter rental statistics will not be published until the end of April.
Most expensive cities in Asia to rent a three-bedroom property:
1. Hong Kong
2. Tokyo
3. Singapore
4. Mumbai
5. Seoul
6. Shanghai
7. New Delhi
8. Beijing
9. Taipei
I think big budget all got reduced.... so i think demand now is all cluster together at the 5k to 10k range
they take the highest rental and make the broad statement that rental is down 20%. did they look at hdb rental?
Haha... agent talk... how about the line "almost sold" ?
yeah always heard " come and view to offer, just tell me what price u want, let me talk to owner, I am the 3rd agent already"...very commongly heard nowaday....:p ..upgrader mostly cheong to EC or new one which is priced now more reasonable compared to resale esp at suburban...(not mixed devpt pls...):o
ikan bilis
22-02-12, 03:16
Hotter!! :D
~~~~~~~~~~~~~~~
Published February 22, 2012
http://www.businesstimes.com.sg/mnt/static/image/ax/c.gif
Hong Leong sells 65 Bartley units at $1,240 psf
Up to 20% discount dished out for the 120 units released
By MINDY TAN
HONG Leong Group yesterday sold 65 units at Bartley Residences at an average price of $1,240 per square foot after a discount of up to 20 per cent.
During yesterday's preview, it released 120 units in the 702-unit, 99-year leasehold private condo next to Bartley MRT Station. According to Hong Leong, 90 per cent of the buyers at yesterday's preview were Singaporeans and permanent residents.
The absolute price of a one-bedroom unit ranges from approximately $610,000 to $670,000; a two-bedroom unit ranges from $970,000 to $1.1 million; a three-bedroom unit is between $1.2 million and $1.4 million; a four-bedroom ranges from approximately $1.65 million to $1.9 million; and a dual-key unit ranges from around $1.8 million to $2.1 million.
The average price psf of $1,240 is after absorption of 18 per cent (including the standard 3 per cent buyer's stamp duty discount, and 3 per cent early bird discount), and an additional 2 per cent district discount.
..............
The high priced rentals are facing resistance.... How about the lower priced ones? Has any forumers faced problem renting out properties in the 2 to 4k range?
I know in some OCR , tenants are vacanting their rented units to some affordable places... that is why I bother to share the property guru article as I know it somehow reflects what I know of currently....:o
they take the highest rental and make the broad statement that rental is down 20%. did they look at hdb rental?
i think the article referring mainly to Private.....:o..HDB is always the bettr choice for FTs esp from SEA...i think u know what I mean...it is more complicated that just price alone...:p
devilplate
22-02-12, 08:13
I know in some OCR , tenants are vacanting their rented units to some affordable places... that is why I bother to share the property guru article as I know it somehow reflects what I know of currently....:o
i tot ocr oredi lowest form of pte housing??? downgrade to HDB ar? no wonder hdb rental is up up la....LOL
i tot ocr oredi lowest form of pte housing??? downgrade to HDB ar? no wonder hdb rental is up up la....LOL
:) ...I think u know the reason is more than that....:p
devilplate
22-02-12, 08:18
Hotter!! :D
~~~~~~~~~~~~~~~
Published February 22, 2012
http://www.businesstimes.com.sg/mnt/static/image/ax/c.gif
Hong Leong sells 65 Bartley units at $1,240 psf
Up to 20% discount dished out for the 120 units released
By MINDY TAN
HONG Leong Group yesterday sold 65 units at Bartley Residences at an average price of $1,240 per square foot after a discount of up to 20 per cent.
During yesterday's preview, it released 120 units in the 702-unit, 99-year leasehold private condo next to Bartley MRT Station. According to Hong Leong, 90 per cent of the buyers at yesterday's preview were Singaporeans and permanent residents.
The absolute price of a one-bedroom unit ranges from approximately $610,000 to $670,000; a two-bedroom unit ranges from $970,000 to $1.1 million; a three-bedroom unit is between $1.2 million and $1.4 million; a four-bedroom ranges from approximately $1.65 million to $1.9 million; and a dual-key unit ranges from around $1.8 million to $2.1 million.
The average price psf of $1,240 is after absorption of 18 per cent (including the standard 3 per cent buyer's stamp duty discount, and 3 per cent early bird discount), and an additional 2 per cent district discount.
..............
bro...u are being sarcastic or? LOL
where got hot.....lukewarm nia.....next to MRT wor!!! i expect 150units gone on first day lor.....LOL
scala pricing about the same rite? but was much hotter.....hint hint liao.....
devilplate
22-02-12, 08:19
:) ...I think u know the reason is more than that....:p
ppl like mr B sold and go rent? LOL whahahaha
Rental for 3K+ segment OK leh. I just got a renewal with higher rental from 3600 to 3900. My own feeling is that 2 to 3 bedder of decent size (not MICKEY MOUSE type) in decent central location (not far flung place) range around 3 to 5K should be able to ride through recession/oversupply. Oversupply coming on is MM and OCR properties. There might also be downward pressure on high-end CCR. HDB should also be resilient. There will always be tenants. Just a matter of how much rent. As long as you didn't buy at recent highs, the low interest rates still make it worthwhile to remain as a landlord. There should theoretically be more rentals since ABSD makes it unattractive to foreigners to buy their own place.
And of course not forgetting there's Mr. B and his gang to rent to as well.
ikan bilis
22-02-12, 08:33
bro...u are being sarcastic or? LOL
where got hot.....lukewarm nia.....next to MRT wor!!! i expect 150units gone on first day lor.....LOL
scala pricing about the same rite? but was much hotter.....hint hint liao.....
no lah... i think is hot... this one without mall hor...
preview only mah... not yet of any weekend launch....
:rolleyes:
The average price psf of $1,240 is after absorption of 18 per cent (including the standard 3 per cent buyer's stamp duty discount, and 3 per cent early bird discount), and an additional 2 per cent district discount.
Using FEO successful formula...discount, discount more discount.
devilplate
22-02-12, 09:22
The average price psf of $1,240 is after absorption of 18 per cent (including the standard 3 per cent buyer's stamp duty discount, and 3 per cent early bird discount), and an additional 2 per cent district discount.
Using FEO successful formula...discount, discount more discount.
i must say FEO preview px of 1kpsf for WT is much much better buy den this.....and u r wrong to say they r following FEO style
this one gona tio stucked liao.....they shd slash down to 1-1.1kpsf and move let say 200units on preview and den slowly increase to 1300psf wat....follow FEO mah
Wild Falcon
22-02-12, 09:25
No lah. Haven't copy the SOHO high ceiling concept.
Having said that, I like high ceiling...
The average price psf of $1,240 is after absorption of 18 per cent (including the standard 3 per cent buyer's stamp duty discount, and 3 per cent early bird discount), and an additional 2 per cent district discount.
Using FEO successful formula...discount, discount more discount.
they shd slash down to 1-1.1kpsf and move let say 200units on preview and den slowly increase to 1300psf wat....follow FEO mah
heh heh....this became an addiction for FEO loyal customers, early buyers protection. Seahill or Bartley will move faster?
devilplate
22-02-12, 09:56
heh heh....this became an addiction for FEO loyal customers, early buyers protection. Seahill or Bartley will move faster?
bartley gone case liao la....
seahill....depending how much is their preview launch px....seahill is the Vision's rescuer.....den who gona rescue seahill? wakakakakkaka
I dun like this property guru article. Not because of its topic, but because of its content, and the way it's presented.
It reminds me of Chinese Internet "news" reports, full of "according to sources" etc. There is no substance.
1st of all, a 20k rental is not your ordinary rental units. Second, there is no validation of the info. I simply dun believe an owner rejecting 22k offer " a few weeks ago" and yet accepting 19k in such a short time. I highly suspect this is a cooked up story, just like many Chinese Internet "news".
This reminds me of another report a few weeks ago saying "CCR prices had dropped 20% !". after close inspection, u will realize it's the average price of CCR pties traded had dropped 20%, not the prices of pty. :rolleyes:
For rental, as of today, the only public available data is URA rental index. Q4 2011 is mostly flat or slightly up. U can just pick some popular D9/10 project to look.
Personally I do not have a feel of the market , as all my rentals are not due until next year. Members in this forum probably have more actual info than this pty guru "one agent".
this report is way fundamentally flawed. what I call irresponsible reporting. you pointed out the question marks correctly. it appears they just conveniently took one case to generalise the whole market.
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