View Full Version : Private home resales spring back to life
Private home resales spring back to life
Startling turnaround in March on the heels of high prices at new home launches
By
Kalpana Rashiwala (http://www.businesstimes.com.sg/reporter/kalpana-rashiwala)
[SINGAPORE] After going into deep freeze since the additional buyer's stamp duty (ABSD) was introduced on Dec 8, resale transactions of completed private homes snapped back to life in March. The recovery was partly disguised amid the first quarter figures, weighed down by dismal volumes in January and February.
In fact, Savills Singapore's analysis shows that resale volumes for March have recovered to levels seen before the ABSD kicked in. The turnaround was sudden, as the resale market had remained jittery even while buyers were returning to property launches in the first two months of the year.
However, since March, agents say that some of the eye-popping per square foot (psf) prices achieved at new launches have helped to jumpstart interest in the secondary market for completed properties, where prices look more attractive.
Savills' analysis of URA Realis caveats data shows 1,142 resale deals for private homes (excluding ECs and en bloc sales) done in March - double the 565 caveats for February and more than three times January's volume of 314 transactions. The March number also exceeds December's volume of 776 and November's 981.
SINGAPORE] After going into deep freeze since the additional buyer's stamp
duty (ABSD) was introduced on Dec 8, resale transactions of completed
private homes snapped back to life in March. The recovery was partly
disguised amid the first quarter figures, weighed down by dismal volumes in
January and February.
In fact, Savills Singapore's analysis shows that resale volumes for March
have recovered to levels seen before the ABSD kicked in. The turnaround was
sudden, as the resale market had remained jittery even while buyers were
returning to property launches in the first two months of the year.
However, since March, agents say that some of the eye-popping per square
foot (psf) prices achieved at new launches have helped to jumpstart interest
in the secondary market for completed properties, where prices look more
attractive.
Savills' analysis of URA Realis caveats data shows 1,142 resale deals for
private homes (excluding ECs and en bloc sales) done in March - double the
565 caveats for February and more than three times January's volume of 314
transactions. The March number also exceeds December's volume of 776 and
November's 981.
"Given that the average monthly resale volume for 2011 was 1,166
transactions, the March numbers show that resale volumes have recovered back
to pre-ABSD levels," said Savills Singapore research head Alan Cheong.
The March 2012 resale volume is still 23 per cent below the 1,480 caveats
lodged in March 2011.
The final tally for March 2012 could rise as more caveats stream in over the
next few weeks. Savills' analysis, based on caveats captured by URA Realis
as at April 24, also showed 332 resale transactions being done so far this
month.
Savills commented: "The pace of resales in April is still healthy. Agents
are still conducting frequent viewings and enquiries. Barring any new
property cooling measures or external shocks, resales should remain robust
for the next few months - given the current low interest rate environment,
liquidity and increasing population scenario, among other factors."
The weak performance in the first two months dragged down the volume of
resale deals of private homes for Q1 this year to 2,021, a decline of nearly
25 per cent from 2,688 in the preceding quarter and a year-on-year drop of
42.3 per cent from 3,503 units in Q1 2011.
"When the ABSD was imposed on Dec 8, 2011, new home sales practically froze
in the following weeks. Subsequent to the successful launch of Watertown and
Parc Rosewood in January, resale buyers took a while to fully absorb the
fact that the property market still has legs. Only in March did they put pen
to paper," said Mr Cheong.
Agents report that high prices achieved for 99-year leasehold suburban
launches like Watertown in Punggol (with median prices of about $1,340 psf
in February and March) and Sky Habitat in Bishan, which marked a new record
for the suburban condo market based on an average price said to be about
$1,650 psf after taking into account the initial 3 per cent discount given
to all buyers - have helped to stir interest in the resale market and in
projects launched earlier that are still being marketed by developers.
Archipelago, a five-storey, 99-year condo facing Bedok Reservoir Park, is
going at about $1,000 psf on average.
Compared to Sky Habitat, resale prices for some completed freehold
properties in the prime districts would appear attractive to some buyers,
say agents. For example, a 990 sq ft ground floor unit at One Jervois
changed hands for $1,515 psf (reflecting an absolute price of $1.5 million)
in March, while a 947 sq ft unit on the third floor of Jervois Regency sold
for $1,361 psf (about $1.29 million) in April.
A 12th floor unit of 2,250 sq ft at Residences@ Evelyn changed hands at
$1,609 psf in March, while a 2,508-sq ft fourth floor unit at Chelsea
Gardens at Walshe Road sold for $3.8 million, which works out to $1,515 psf.
David Neubronner, director of residential project sales, Jones Lang LaSalle,
said: "Completed freehold properties at Meyer Road and in Districts 10 and
11 priced at $1,500-1,600 psf represent good values for owner occupiers."
Although psf prices are higher for new launches, absolute price quantums are
generally bigger for older completed projects as units are mostly larger.
"Buyers of resale properties may be a different group than those buying in
the primary market; they could be better heeled," suggests an agent.
Credo Real Estate executive director (residential) Manjit Gill says the
company has seen an increase in enquiries and requests for viewings of
completed properties in the resale market, particularly those in the
vicinity of new launches.
"While psf prices are lower in the resale market, buyers would have to make
full payment of the purchase price upon completion of sale (usually in three
months) whereas if they buy a unit from a developer in a newly launched
project, progress payments can stretch over the three years or more that it
takes to complete the project," he adds. Lower psf prices in the resale
market may also be due to the age of the project and its facilities.
Mmmmm, isn't that what I mentioned before?
SINGAPORE] After going into deep freeze since the additional buyer's stamp
duty (ABSD) was introduced on Dec 8, resale transactions of completed
private homes snapped back to life in March. The recovery was partly
disguised amid the first quarter figures, weighed down by dismal volumes in
January and February.
In fact, Savills Singapore's analysis shows that resale volumes for March
have recovered to levels seen before the ABSD kicked in. The turnaround was
sudden, as the resale market had remained jittery even while buyers were
returning to property launches in the first two months of the year.
However, since March, agents say that some of the eye-popping per square
foot (psf) prices achieved at new launches have helped to jumpstart interest
in the secondary market for completed properties, where prices look more
attractive.
Savills' analysis of URA Realis caveats data shows 1,142 resale deals for
private homes (excluding ECs and en bloc sales) done in March - double the
565 caveats for February and more than three times January's volume of 314
transactions. The March number also exceeds December's volume of 776 and
November's 981.
"Given that the average monthly resale volume for 2011 was 1,166
transactions, the March numbers show that resale volumes have recovered back
to pre-ABSD levels," said Savills Singapore research head Alan Cheong.
The March 2012 resale volume is still 23 per cent below the 1,480 caveats
lodged in March 2011.
The final tally for March 2012 could rise as more caveats stream in over the
next few weeks. Savills' analysis, based on caveats captured by URA Realis
as at April 24, also showed 332 resale transactions being done so far this
month.
Savills commented: "The pace of resales in April is still healthy. Agents
are still conducting frequent viewings and enquiries. Barring any new
property cooling measures or external shocks, resales should remain robust
for the next few months - given the current low interest rate environment,
liquidity and increasing population scenario, among other factors."
The weak performance in the first two months dragged down the volume of
resale deals of private homes for Q1 this year to 2,021, a decline of nearly
25 per cent from 2,688 in the preceding quarter and a year-on-year drop of
42.3 per cent from 3,503 units in Q1 2011.
"When the ABSD was imposed on Dec 8, 2011, new home sales practically froze
in the following weeks. Subsequent to the successful launch of Watertown and
Parc Rosewood in January, resale buyers took a while to fully absorb the
fact that the property market still has legs. Only in March did they put pen
to paper," said Mr Cheong.
Agents report that high prices achieved for 99-year leasehold suburban
launches like Watertown in Punggol (with median prices of about $1,340 psf
in February and March) and Sky Habitat in Bishan, which marked a new record
for the suburban condo market based on an average price said to be about
$1,650 psf after taking into account the initial 3 per cent discount given
to all buyers - have helped to stir interest in the resale market and in
projects launched earlier that are still being marketed by developers.
Archipelago, a five-storey, 99-year condo facing Bedok Reservoir Park, is
going at about $1,000 psf on average.
Compared to Sky Habitat, resale prices for some completed freehold
properties in the prime districts would appear attractive to some buyers,
say agents. For example, a 990 sq ft ground floor unit at One Jervois
changed hands for $1,515 psf (reflecting an absolute price of $1.5 million)
in March, while a 947 sq ft unit on the third floor of Jervois Regency sold
for $1,361 psf (about $1.29 million) in April.
A 12th floor unit of 2,250 sq ft at Residences@ Evelyn changed hands at
$1,609 psf in March, while a 2,508-sq ft fourth floor unit at Chelsea
Gardens at Walshe Road sold for $3.8 million, which works out to $1,515 psf.
David Neubronner, director of residential project sales, Jones Lang LaSalle,
said: "Completed freehold properties at Meyer Road and in Districts 10 and
11 priced at $1,500-1,600 psf represent good values for owner occupiers."
Although psf prices are higher for new launches, absolute price quantums are
generally bigger for older completed projects as units are mostly larger.
"Buyers of resale properties may be a different group than those buying in
the primary market; they could be better heeled," suggests an agent.
Credo Real Estate executive director (residential) Manjit Gill says the
company has seen an increase in enquiries and requests for viewings of
completed properties in the resale market, particularly those in the
vicinity of new launches.
"While psf prices are lower in the resale market, buyers would have to make
full payment of the purchase price upon completion of sale (usually in three
months) whereas if they buy a unit from a developer in a newly launched
project, progress payments can stretch over the three years or more that it
takes to complete the project," he adds. Lower psf prices in the resale
market may also be due to the age of the project and its facilities.
Mmmmm, isn't that what I mentioned before?
I beginning to suspect, all the wise observations you gurus make here are all sort of made use in the reporting since this forum owned by SPH and Mediacorp....
Rosegarden
26-04-12, 14:39
I beginning to suspect, all the wise observations you gurus make here are all sort of made use in the reporting since this forum owned by SPH and Mediacorp....
ha ha ... I think many young journo do their "research" and "surveys" on the net ... forums, blog, tweets, etc. CNA even "reports" tweets during GE11. LOL.
I think is just a spike in resales activity during Mar.. Looking at the stats I have on hand for resales in April, it will likely be 30+% lower in terms of volume for this month
I beginning to suspect, all the wise observations you gurus make here are all sort of made use in the reporting since this forum owned by SPH and Mediacorp....
this forum own by SPH? sure or not?
I think is just a spike in resales activity during Mar.. Looking at the stats I have on hand for resales in April, it will likely be 30+% lower in terms of volume for this month
u mean u counting all transactions in april:confused:
I think is just a spike in resales activity during Mar.. Looking at the stats I have on hand for resales in April, it will likely be 30+% lower in terms of volume for this month
I think resale transactions is on uptrend. April's numbers should not be 30% lower than March. But then, its anyone's guess. I just based it on the number of viewers I see at resale viewings so far this month.
DKSG
this forum own by SPH? sure or not?
how u think can survive so long with all the 2:2cents: comments...:D
big brother support
u mean u counting all transactions in april:confused:
up till 13th apr confirmed based on ura and av out monthly
up till 13th apr confirmed based on ura and av out monthly
oh ok...lets c what happens by month end;)
oh ok...lets c what happens by month end;)
if i BUY then can add 1 more NUMBER to the data....:D:D:D
oh ok...lets c what happens by month end;)
yup.. wad u hooting?
yup.. wad u hooting?
one minute landed one minute condo one minute apartment one minute d15 one minute d16....:D:D:D:D:D...life is so FUN...;)
dtrax, do you have any no of rental transactions data according to price bands of rental (e.g. <$3k, $3k-4k, $4k-5k, $5k-6k, $6k-7k, $8k-10k, >$10k) and their average in each band for condos. Do you have the data and can provide to share? Thanks. ;)
dtrax, do you have any no of rental transactions data according to price bands of rental (e.g. <$3k, $3k-4k, $4k-5k, $5k-6k, $6k-7k, $8k-10k, >$10k) and their average in each band for condos. Do you have the data and can provide to share? Thanks. ;)
ya that would be useful...but generally i feel rental still strong
ya that would be useful...but generally i feel rental still strong
I would have thought that looking at psf rental price will give you a better indication of the rental market.
dtrax, do you have any no of rental transactions data according to price bands of rental (e.g. <$3k, $3k-4k, $4k-5k, $5k-6k, $6k-7k, $8k-10k, >$10k) and their average in each band for condos. Do you have the data and can provide to share? Thanks. ;)
can be done but have yet to do that yet coz it will be too painful for manual compilation unless i have got this in my system
Doesn't say anything about resale prices since the last CM. Prices went up? went down? went down then up?:confused:
Doesn't say anything about resale prices since the last CM. Prices went up? went down? went down then up?:confused:
exactly, resales volume goes up could also mean price coming down. however rental market will give us a clue about the direction forward. If tenants are still willing to pay decent price for rental then I would expect price to remain strong.
ikan bilis
26-04-12, 17:22
Doesn't say anything about resale prices since the last CM. Prices went up? went down? went down then up?:confused:
wait lah... tomorrow both URA-2012Q1 and NUS-SRPI Mar-2012 indices available... ;)
one minute landed one minute condo one minute apartment one minute d15 one minute d16....:D:D:D:D:D...life is so FUN...;)
So sexcitingggggggggg :)
this forum own by SPH? sure or not?
u make a new post n observe the top portion lor. actually no need. just look up there now...
SO this confirms what we have been hearing from agents that resales are creeping up and more people are viewing since early March.
Dec resales down is a knee jerk reaction but vol may still not match pre ABSD.
Prices are likely to be project specific and dependent on facing and condition but if we monitor the more popular projects from Mar to May, will have a better idea.
Whatever it is looks like the "rebound" is even faster than in end 2008/early 2009. Barring external shocks and CM, prices will likely to remain close to 2011 prices. Not so good news for those who have sold and waiting for prices to drop.
Enjoy:
http://sbr.com.sg/sites/default/files/news/april26chart.JPG
Enjoy:
http://sbr.com.sg/sites/default/files/news/april26chart.JPG
Driven mostly by MMs and ECs. Buying momentum will likely be maintained to around end of Q2 this year.
Wow! all time high Q1 transaction for new launch. New CM is coming soon. Thank you, dtrax Can do same one for secondary market? ;)
Enjoy:
http://sbr.com.sg/sites/default/files/news/april26chart.JPG
Excluding ECs la
Driven mostly by MMs and ECs. Buying momentum will likely be maintained to around end of Q2 this year.
Somebody mentioned in the forum that a new CM was due either last week or this week. Think MIW still unsure the direction of the new CM. Lol! :D
Excluding ECs la
Okay, thanks. A bit K.O.
Anyway if ECs are added, the bar chart should be more spectacular.
Somebody mentioned in the forum that a new CM was due either last week or this week. Think MIW still unsure the direction of the new CM. Lol! :D
There is a high chance that PM may in his May Day message next week, announce some CMs as he did before. Hold tight!
There is a high chance that PM may in his May Day message next week, announce some CMs as he did before. Hold tight!
He got more important things to announce - not enough labor force so... I think the recent 25k thing is to prepare the public. Let's see whether I'm right! :p If this is true, then property will boomz again.
still think there will be no CM6 yet.
prices are not escalating, SSD and ABSD have kept resale prices in check.
new sales, how many are speculating right now? Most are upgraders or those who can hold.
any CM6 won't be now, policy makers will likely wait a while for more definite trends to emerge.
speculator
27-04-12, 01:02
QE1, QE2, LTRO, Asset Purchases
US, Europe and UK. Everybody is printing money.
$ € £
Make the rest of the world pay for their debts at the expense of high inflation.
How can this sustain?
People afraid of inflation, plus low interest, plus liquidity
So every fixed asset is selling fast!
When SH trades at 70% prrmium to its resale neighbours, it's probably easy to understand why people are turning to resale.
still think there will be no CM6 yet.
prices are not escalating,resale prices in check.
new sales, how many are speculating right now? any CM6 won't be now, policy makers will likely wait a while for more definite trends to emerge.
Lol. Isn't this the same "moderating" situation before CM5 were implemented.:doh:
still think there will be no CM6 yet.
prices are not escalating, SSD and ABSD have kept resale prices in check.
new sales, how many are speculating right now? Most are upgraders or those who can hold.
any CM6 won't be now, policy makers will likely wait a while for more definite trends to emerge.
The government is not just concern about speculation, they are also concern about the high prices which is lagging income growth. As long as market showing no sign of price moderation, there is both a political and social reason to act.
ikan bilis
27-04-12, 10:11
think even without price increase, if mortgage loan growth is too fast too big, the govt still got to do something,.... but may be this time round targeting at new launch... :D
i mentioned earlier that resale activity is picking up.
recently, there are more PR buyers entering the market.
They are concerned with moderating prices? What if the demand is genuine because their own lack of actions for past few years to build enough for accomodation? If price goes up because people are generally much richer now (and also because of inflation >5% every year), why should they cap the property price? The only thing they probably need to do is to:
1) Ensure developers don't build MMs! Not pro-families! Sure will see birth rate keep dropping!
2) Ensure 40% downpayment upfront for new launch and that buyers get bank loan gaurantee for the rest 60% loan upfront, the rest can just leave it to market forces.
3) Be fair to resale vs new launch, SSD count down start from date when buyers pay down 100%! If new launch buyers want to pay down 100% upfront so that their SSD count-down can start immediately, let's be it! :beats-me-man:
It is a fact that MMs are distorting the actual portrayed prices of properties! Get ride of all these MMs and the price will look more sane, which is inline with the income growth of the general top 20% population.
The government is not just concern about speculation, they are also concern about the high prices which is lagging income growth. As long as market showing no sign of price moderation, there is both a political and social reason to act.
ikan bilis
27-04-12, 11:07
URA 2012-Q1 data out liow... drop 0.1%...
http://www.ura.gov.sg/pr/text/2012/pr12-44.html
phantom_opera
27-04-12, 11:34
URA 2012-Q1 data out liow... drop 0.1%...
http://www.ura.gov.sg/pr/text/2012/pr12-44.html
haha read carefully:
For Outside Central Region (OCR), prices increased by 1.1% in 1st Quarter 2012, compared with an increase of 0.6% in the previous quarter
Rentals of private residential properties registered a lower rate of increase compared to the previous quarter. Rentals increased by 0.3% in 1st Quarter 2012, less than the 0.4% increase in the previous quarter
ikan bilis
27-04-12, 11:39
haha read carefully:
For Outside Central Region (OCR), prices increased by 1.1% in 1st Quarter 2012, compared with an increase of 0.6% in the previous quarter
Rentals of private residential properties registered a lower rate of increase compared to the previous quarter. Rentals increased by 0.3% in 1st Quarter 2012, less than the 0.4% increase in the previous quarter
ouch!... that bear-bear will hate you, not me... ;)
property in land starved singapore with an OVERFLOWING population is a NO brainer...just hoot and buy within ur means...cannot go wrong...;)
The people waiting for fire-sales following the last CM is going to be so disappointed.
0.1% drop considered firesales?:D
The people waiting for fire-sales following the last CM is going to be so disappointed.
0.1% drop considered firesales?:D
more CMs coming. I think maybe they will announce by this evening
pity those owners who cashed out of their homes and have been renting for over 2 yrs.
pity those owners who cashed out of their homes and have been renting for over 2 yrs.
these are the worse manz,playing with only roof is like playing with fire.. waiting until necks extremely stretched..:doh:
Looks like resale prices for Mar/April in some of the CCR condos have rebounded from the slight dip in dec.
PARK INFINIA AT WEE NAM
LINCOLN ROAD
Condominium
1
1,205,000
560
Strata
2,153
Apr-12
PARK INFINIA AT WEE NAM
LINCOLN ROAD
Condominium
1
1,118,000
560
Strata
1,997
Mar-12
PARK INFINIA AT WEE NAM
LINCOLN ROAD
Condominium
1
1,688,000
893
Strata
1,889
Mar-12
PARK INFINIA AT WEE NAM
LINCOLN ROAD
Condominium
1
2,780,000
1,582
Strata
1,757
Feb-12
PARK INFINIA AT WEE NAM
LINCOLN ROAD
Condominium
1
2,530,000
1,464
Strata
1,728
Dec-11
PARK INFINIA AT WEE NAM
LINCOLN ROAD
Condominium
1
1,724,820
969
Strata
1,780
Nov-11
PARK INFINIA AT WEE NAM
LINCOLN ROAD
Condominium
1
1,770,000
1,001
Strata
1,768
Nov-11
PARK INFINIA AT WEE NAM
LINCOLN ROAD
Condominium
1
2,250,000
1,335
Strata
1,686
Nov-11
PARK INFINIA AT WEE NAM
LINCOLN ROAD
Condominium
1
2,580,000
1,442
Strata
1,789
Oct-11
PARK INFINIA AT WEE NAM
LINCOLN ROAD
Condominium
1
1,901,900
1,001
Strata
1,900
Oct-11
PARK INFINIA AT WEE NAM
LINCOLN ROAD
Condominium
1
1,145,000
560
Strata
2,046
Sep-11
PARK INFINIA AT WEE NAM
LINCOLN ROAD
Condominium
1
1,680,000
893
Strata
1,880
Sep-11
LEIL @ SINARAN
SINARAN DRIVE
Condominium
1
1,035,000
581
Strata
1,781
Apr-12
SOLEIL @ SINARAN
SINARAN DRIVE
Condominium
1
2,820,000
1,475
Strata
1,912
Apr-12
SOLEIL @ SINARAN
SINARAN DRIVE
Condominium
1
1,980,000
1,098
Strata
1,803
Mar-12
SOLEIL @ SINARAN
SINARAN DRIVE
Condominium
1
1,899,540
1,098
Strata
1,730
Feb-12
SOLEIL @ SINARAN
SINARAN DRIVE
Condominium
1
2,750,000
1,722
Strata
1,597
Jan-12
SOLEIL @ SINARAN
SINARAN DRIVE
Condominium
1
2,728,750
1,475
Strata
1,850
Dec-11
SOLEIL @ SINARAN
SINARAN DRIVE
Condominium
1
2,800,000
1,475
Strata
1,899
Dec-11
SOLEIL @ SINARAN
SINARAN DRIVE
Condominium
1
2,093,383
1,464
Strata
1,430
Nov-11
SOLEIL @ SINARAN
SINARAN DRIVE
Condominium
1
1,750,000
958
Strata
1,827
Nov-11
SOLEIL @ SINARAN
SINARAN DRIVE
Condominium
1
2,961,840
1,722
Strata
1,720
Nov-11
SOLEIL @ SINARAN
SINARAN DRIVE
Condominium
1
3,200,000
1,722
Strata
1,858
Nov-11
SOLEIL @ SINARAN
SINARAN DRIVE
Condominium
1
2,600,000
1,475
Strata
1,763
Nov-11
SOLEIL @ SINARAN
SINARAN DRIVE
Condominium
1
1,580,000
958
Strata
1,649
Nov-11
NUS index for March : all segments up, with MMs jumping 2.8%.
http://www.ires.nus.edu.sg/webapp/srpi/SRPI_Main.aspx
ikan bilis
30-04-12, 15:11
what is CM ??.. catch mickeymouse ??... :D
what is CM ??.. catch mickeymouse ??... :D
Wrong, catch Minniemouse :D
Wow! That's the shortest "correction" ever!
Huat ah!:cheers4:
Wow! That's the shortest "correction" ever!
Huat ah!:cheers4:
Market buzzing with activities. SeaHill sold more than 100 over units!
New launches are getting all hyped up and ready to go!
Resale transactions will see another spike in April.
So if you spot something that is of good value, grab it noW!
DKSG
phantom_opera
30-04-12, 17:54
Market buzzing with activities. SeaHill sold more than 100 over units!
New launches are getting all hyped up and ready to go!
Resale transactions will see another spike in April.
So if you spot something that is of good value, grab it noW!
DKSG
OCR anything below 1kpsf is a STEAL !!! Very soon nothing is below that magic number !!!
DKSG is the big boss of one of the real estate agencies. That's why he/she got to view so many hundreds of show flats and why he is v. happy if we go cheong more properties. He sits in the Office because he has all the "kar kia" to run around outside for him. He does his "market research" on this forum. Most of the $$$ income goes to his spouse to minimize tax liability. If the spouse is a female, he probably has 10 children to make use of all the Child Reliefs and the family hardly need to pay any taxes. The 10 children will also inherit his empire when they grow up, spawning more clones of Office Boys and Girls who will sit by the computer and quietly laugh at the rest of us trying to figure out the market.
:cheers5: :cheers5: :cheers5:
DKSG is the big boss of one of the real estate agencies. That's why he/she got to view so many hundreds of show flats and why he is v. happy if we go cheong more properties. He sits in the Office because he has all the "kar kia" to run around outside for him. He does his "market research" on this forum. Most of the $$$ income goes to his spouse to minimize tax liability. If the spouse is a female, he probably has 10 children to make use of all the Child Reliefs and the family hardly need to pay any taxes. The 10 children will also inherit his empire when they grow up, spawning more clones of Office Boys and Girls who will sit by the computer and quietly laugh at the rest of us trying to figure out the market.
:cheers5: :cheers5: :cheers5:
DKSG is NOT related to any real estate agencies.
I view so many showflats because I am interested in property investment and because I am hardworking.
I only share with you all what I see in the showflats and resale viewings.
I dont give a damn whether you buy or sell your properties.
You can view my posting as BUY now! or you can also view it as Price Up Liao quickly sell! Seriously, I dont care!
Please do not comment about my tax status, unless you want to publish your IR8A here. Me and my family pay my taxes dutifully and we do not owe the government any taxes.
Enough said, this is the last post I am going to post regarding personal matters. This CB guy is just as bad as the B guy.
DKSG
DKSG is NOT related to any real estate agencies.
I view so many showflats because I am interested in property investment and because I am hardworking.
I only share with you all what I see in the showflats and resale viewings.
I dont give a damn whether you buy or sell your properties.
You can view my posting as BUY now! or you can also view it as Price Up Liao quickly sell! Seriously, I dont care!
Please do not comment about my tax status, unless you want to publish your IR8A here. Me and my family pay my taxes dutifully and we do not owe the government any taxes.
Enough said, this is the last post I am going to post regarding personal matters. This CB guy is just as bad as the B guy.
DKSG
Yandao, dont lose your cool ya. Usually SIS cb is very nice. Dunno what happened to her today... But she could just be trying to be funny... Dont think its ill intention.
SINGAPORE: Prices of resale private homes climbed by 0.8 per cent in March, after falling by 1.6 per cent in the previous month.
This is according to the Singapore Residential Price Index (SRPI) flash estimates published by the Institute of Real Estate Studies at National University of Singapore.
NUS' Institute of Real Estate Studies says it noted an improvement in the housing transactions volume in March and it is possible that the market may be shaking off the impact of the cooling measure which was introduced last December.
It adds that the SRPI figures showed that while houses prices softened in January and February, prices have shown a slight rebound in March.
In particular, resale prices of small apartments rose most sharply.
The SRPI for March showed that prices for small units with floor area of 506 square feet and below increased by 2.8 per cent in March, compared with a 0.8 per cent decline in February.
Excluding small units, prices of resale private homes in the central area were higher by 0.8 per cent, while those in the non-central regions rose by 0.7 per cent.
These were much higher than February's numbers.
In February, the SRPI for resale units in the central area was down by two per cent while units in the non-central area fell 1.2 per cent.
- CNA/fa
CMCMCMCMCMCMCMCCMCMCMCMCMCMCMCM
April will see prices up again with Sky Habitat and Katong Regency launches. The both are big psf developments.
OCR anything below 1kpsf is a STEAL !!! Very soon nothing is below that magic number !!!
Zhun Bo?:scared-5: "Soon" 1kpsf and above??" .....Many "Bs" here are still waiting for $500 psf to come back.... :scared-3:
Zhun Bo?:scared-5: "Soon" 1kpsf and above??" .....Many "Bs" here are still waiting for $500 psf to come back.... :scared-3:
Phantom have to declare if he has got a OCR condo he is trying to offload for 999 psf ? Else this statement is totally uncalled for as there are hundreds of thousands of OCR condos now below $1,000 psf. Is he trying to rally all to up their asking price to match his ?
DKSG
phantom_opera
01-05-12, 19:15
During SARS, the lowest OCR Psf on avg 400psf, Lehman crisis 600psf, next crisis will be 1000psf ... why? because HDB resale price on avg will b 500psf for OCR :p
500psf even for old flats ... we are almost there ... my VERY SOON is by end of this year :tongue3:
472 Pasir Ris Dr 6 11 to 15 103.00
Model A 1989 $490,000.00
403 Bedok Nth Ave 3 06 to 10 92.00
New Generation 1980 $471,000.00
During SARS, the lowest OCR Psf on avg 400psf, Lehman crisis 600psf, next crisis will be 1000psf ... why? because HDB resale price on avg will b 500psf for OCR :p
500psf even for old flats ... we are almost there ... my VERY SOON is by end of this year :tongue3:
472 Pasir Ris Dr 6 11 to 15 103.00
Model A 1989 $490,000.00
403 Bedok Nth Ave 3 06 to 10 92.00
New Generation 1980 $471,000.00
Actually, you shld say those newer resale are already more than 500 psf! Your comments are way better than Ah B --> he can only see things 2 years later cant see whats right in front.
Most places already see prices moving in the past few months. Try getting a relatively new D15 condo for less than $1,350 psf, nearly impossible!
The longer people wait, the more they will have to pay. Thats what our friend Mr Quek says.
DKSG
phantom_opera
01-05-12, 19:49
Actually, you shld say those newer resale are already more than 500 psf! Your comments are way better than Ah B --> he can only see things 2 years later cant see whats right in front.
Most places already see prices moving in the past few months. Try getting a relatively new D15 condo for less than $1,350 psf, nearly impossible!
The longer people wait, the more they will have to pay. Thats what our friend Mr Quek says.
DKSG
That's why HDB is trying to stop COV ... as long as you don't have CM on HDB and the rental market remains tight (with 25k immigrants per year ... HDB rental will skyrocket), it is normal to ask for 20k COV ..if 1y we have 5 transactions, the valuation will go up by 100k :scared-3: FEO SOHO also price dun go up so fast :rolleyes:
ikan bilis
01-05-12, 20:00
umm... how to stop cov... can show some ways/methods to stop cov ??... ;)
umm... how to stop cov... can show some ways/methods to stop cov ??... ;)
vote for a purist communist party.
umm... how to stop cov... can show some ways/methods to stop cov ??... ;)
Ask the Bank to do the valuation instead of a panel of valuator and after valuation need HDB approval.
Do you see PC need COV after Bank valuation.
what is CM ??.. catch mickeymouse ??... :D
CM = Control Measure
CM5 - 07 Dec 2011
http://app.mnd.gov.sg/Newsroom/NewsPage.aspx?ID=3202&category=Press%20Release&year=2011&RA1=&RA2=&RA3=
CM4 - 13 Jan 2011
http://app.mnd.gov.sg/Newsroom/NewsPage.aspx?ID=2488&category=Press%20Release&year=2011&RA1=&RA2=&RA3=
CM3 - 30 Aug 2010
http://app.mnd.gov.sg/Newsroom/NewsPage.aspx?ID=2633&category=Press%20Release&year=2010&RA1=&RA2=&RA3=
CM2 - 19 Feb 2010
http://app.mnd.gov.sg/Newsroom/NewsPage.aspx?ID=2624&category=Press%20Release&year=2010&RA1=&RA2=&RA3=
CM1 -14 Sep 2009
http://app.mnd.gov.sg/Newsroom/NewsPage.aspx?ID=2448&category=Press%20Release&year=2009&RA1=&RA2=&RA3=
Huat Ah...........
ikan bilis
01-05-12, 20:30
vote for a purist communist party.
- no communist party in sgp, how to vote ??.. dare not vote for also, later kena isa... :scared-4:
Ask the Bank to do the valuation instead of a panel of valuator and after valuation need HDB approval.
Do you see PC need COV after Bank valuation.
- yes, bank normally "over value" for pte condo, you normally or can say always get full loan for pte condo...
- resale hdb is at some suppressed price now, nobody knows the actual true market value. Valuation controlled by hdb now in suppressing the resale price.
- now: price = downpayment * 5 (bank gearing) + cov, price held down bcoz cov suckz them/buyer dry
- if banks provide full valuation next, price could shoot up: price = (downpayment + cov) * 5 (bank gearing), bcoz everyone might cheong biggest/near mrt hdb...
- at least need to make HDB resale max LTV=70% (since cov also around 10%) before could let hdb valuation freely determined by market force/banks...
;)
- no communist party in sgp, how to vote ??.. dare not vote for also, later kena isa... :scared-4:
- yes, bank normally "over value" for pte condo, you normally or can say always get full loan for pte condo...
- resale hdb is at some suppressed price now, nobody knows the actual true market value. Valuation controlled by hdb now in suppressing the resale price.
- now: price = downpayment * 5 (bank gearing) + cov, price held down bcoz cov suckz them/buyer dry
- if banks provide full valuation next, price could shoot up: price = (downpayment + cov) * 5 (bank gearing), bcoz everyone might cheong biggest/near mrt hdb...
- at least need to make HDB resale max LTV=70% (since cov also around 10%) before could let hdb valuation freely determined by market force/banks...
;)
If HDB is removing COV then they look like going to give up valuation soon. Let HDB shoot up the roof and say they provide larger subsidy. This way all HDB owner happy, those buy BTO also happy because larger subsidy.
http://www.asiaone.com/Business/My+Money/Property/Story/A1Story20091017-174236.html
If HDB is removing COV then they look like going to give up valuation soon. Let HDB shoot up the roof and say they provide larger subsidy. This way all HDB owner happy, those buy BTO also happy because larger subsidy.
http://www.asiaone.com/Business/My+Money/Property/Story/A1Story20091017-174236.html
Maybe it is a first step towards removing COV.
Maybe it is a first step towards removing COV.
removing COV will only go so far in helping to stablize valuation. the flipside is that buyers will be left in the dark and at the mercy of unscrupulous agents/greedy owners who wouldn't think twice about lying.
removing COV will only go so far in helping to stablize valuation. the flipside is that buyers will be left in the dark and at the mercy of unscrupulous agents/greedy owners who wouldn't think twice about lying.
Removing COV the valuation become unreliable and price start to increase. My 4 Room A model HDB was value at 195K, there was no COV in 1995 and my asking price is 300K because when I ask the valuer why is the valuation so low, they tell me they need HDB approval. So I tell myself OK valuation is controlled then the thing they cannot control is the buyer willing to pay. With COV it limited your asking price.
History always repeat itself.
Removing COV the valuation become unreliable and price start to increase. My 4 Room A model HDB was value at 195K, there was no COV in 1995 and my asking price is 300K because when I ask the valuer why is the valuation so low, they tell me they need HDB approval. So I tell myself OK valuation is controlled then the thing they cannot control is the buyer willing to pay. With COV it limited your asking price.
History always repeat itself.
even with the publishing of COV data, HDB still can't control the quantum a buyer is willing to pay over valuation. e.g. HDB that transacted at $900k.
I don't see how it helps (buyers) by not publishing COV data
even with the publishing of COV data, HDB still can't control the quantum a buyer is willing to pay over valuation. e.g. HDB that transacted at $900k.
I don't see how it helps (buyers) by not publishing COV data
Because they are taking small step, so that you will not notice over a long period. They will stop COV, next bank will be allow to do valuation since Bank can loan to HDB. Bank will sure up the valuation since LTV will be 30% by then.
With the resale at all time high, maintaining the BTO price will look like giving a larger subsidy. HDB owner, Bank, Agent, First time buyer all happy. Huat ah......
even with the publishing of COV data, HDB still can't control the quantum a buyer is willing to pay over valuation. e.g. HDB that transacted at $900k.
I don't see how it helps (buyers) by not publishing COV data
What you dont know wont hurt you? They paying say 50k cov but without data they dunno and think that they are paying valuation...
Cov is implemented to control hdb prices as it has to be paid in cash.
Removing Cov will only do more harm than good.
CM = Control Measure
CM5 - 07 Dec 2011
http://app.mnd.gov.sg/Newsroom/NewsPage.aspx?ID=3202&category=Press%20Release&year=2011&RA1=&RA2=&RA3=
CM4 - 13 Jan 2011
http://app.mnd.gov.sg/Newsroom/NewsPage.aspx?ID=2488&category=Press%20Release&year=2011&RA1=&RA2=&RA3=
CM3 - 30 Aug 2010
http://app.mnd.gov.sg/Newsroom/NewsPage.aspx?ID=2633&category=Press%20Release&year=2010&RA1=&RA2=&RA3=
CM2 - 19 Feb 2010
http://app.mnd.gov.sg/Newsroom/NewsPage.aspx?ID=2624&category=Press%20Release&year=2010&RA1=&RA2=&RA3=
CM1 -14 Sep 2009
http://app.mnd.gov.sg/Newsroom/NewsPage.aspx?ID=2448&category=Press%20Release&year=2009&RA1=&RA2=&RA3=
Huat Ah...........
Average every year got 2. This year havent woh....
Cov is implemented to control hdb prices as it has to be paid in cash.
Removing Cov will only do more harm than good.
Ah then they will surely know the cov they are paying since in cash... My bad
Prices are likely to pop if they allow hdb to be valued like pc.
Prices are likely to pop if they allow hdb to be valued like pc.
The Question is "Why are they not letting Bank do the valuation?"
and how long can they do the valuation approval.
The way I see it Mr KBW is right, he should take care of the first time, next the second time and finally take care of the right way to value HDB and let the gov do the subsidy this way everyone is happy.
HDB owner knew their resale is correctly value no more COV, HDB approval, the buyer is happy they know how much to paid in cash, first time buyer happy because they are getting a larger subsidy, the Bank happy they can loan more, the agent happy they can earn more and finally the gov happy the can tax more. Huat Ah.........
I sold my 4 room A model for $285,000 and buy a new 100 years 5 Room HDB (lease start in 1997 but was completed in 1996)for $ 225,600 + premium of 10% = $248,160. With the correct valuation HDB will be able to correctly price the new HDB in 1995. They are still pricing the HDB using the wrong valuation.:beats-me-man:
ikan bilis
01-05-12, 22:58
i'm holding both hdb and pte condo now,... but i do not wish to see hdb price shoot up like that. public housing no matter what should have some price control and not messed up by market forces... :cool:
One of the things to help us decide which makes a better investment is the upside potential (amount that the property price can rise). The most expensive HDB resale flat ever transacted was $890,000 in January 2008 for a Queenstown executive flat. The seller bought the unit in 1992 for just over $300,000, which means that he made a profit of about $590,000 after holding the flat for 16 years. As this is the priciest HDB ever transacted, we will not be too wrong to assume that this is probably one of the biggest profits ever made from a HDB resale flat.
What about private properties? From our research, we found that during the property boom of 2007, the cheapest resale condominium unit that made a net profit of more than $1million was bought in June 2005 for $350,000 and sold in November 2007 for $1.375million. This means that the seller made a profit of about $1.025million in less than 3 years. Interestingly, the purchase price for the private property was only $50,000 more than the HDB flat; however, it was able to make significantly more profit in a shorter period of time. Hence, this comparison clearly shows the difference in upside potential between the two types of property.
http://buybyeproperty.com/wp/page/2
This is what happen when Valuation report need approval.
i'm holding both hdb and pte condo now,... but i do not wish to see hdb price shoot up like that. public housing no matter what should have some price control and not messed up by market forces... :cool:
Agree about price control for First timer, Second Timer but not resale HDB.
When valuation does not reflect the true value then everyone lose, nobody gain.
Wrong valuation is use to determine the price of new HDB, the subsidy given to First Timer and second Timer. Buyer of resale unit need to pay more cash. Bank cannot loan more, gov not collecting the correct stamp duty, everyone want larger and larger unit.......... Everyone not happy.
Example: 3 Room HDB in Kim Keat Ave is selling for $300,000. To buy pay $803 per month, to rent pay $2000. Just get any China man and they will tell you something is wrong. I hope KBW is reading this forum than he can do the correct thing and given the correct subsidy and everyone is happy.
http://www.propertyguru.com.sg/listing/hdb-for-sale-194-kim-keat-avenue-9565927
...The most expensive HDB resale flat ever transacted was $890,000 in January 2008 for a Queenstown executive flat.
just a small note, that record has been broken :
173 (http://forums.condosingapore.com/) Bishan St 13 16 to 20 150.00
Maisonette 1987 $900,000.00 Mar 2012
phantom_opera
02-05-12, 10:30
just a small note, that record has been broken :
173 (http://forums.condosingapore.com/) Bishan St 13 16 to 20 150.00
Maisonette 1987 $900,000.00 Mar 2012
3D Upp Boon Keng Rd 21 to 25 110.00
Improved 2006 $903,000.00 Dec 2011
psf king of HDB as it is only 110sqm
When valuation does not reflect the true value then everyone lose, nobody gain.
The issue is, if "true valuation" is used for HDB just like PC, then the prices of HDB will be fully subjected to open/free market economics. And under free market, pty prices will rocket in an up cycle (like now). This is then politically incorrect.
therefore HDB prices should/will never be market driven. buy at 800 rent at 2000 makes no sense in free market context, but it makes perfect sense politically.
3D Upp Boon Keng Rd 21 to 25 110.00
Improved 2006 $903,000.00 Dec 2011
psf king of HDB as it is only 110sqm
u know I really think now is the time to sell HDB to take profit, especially for those already having other pty assets. LKY did say "dun sell", but he didn't say "never sell" right ? ;)
phantom_opera
02-05-12, 10:40
u know I really think now is the time to sell HDB to take profit, especially for those already having other pty assets. LKY did say "dun sell", but he didn't say "never sell" right ? ;)
The problem is because COV slows the price appreciation ... if free market, right now is time to take profit, without COV, probably another 3-4y
Again, the various CMs also reduce the transaction volume so it takes even longer for the peak to be seen ... the telling sign will be if newspaper is talking about 1 million HDB every week .. now they only talk about 900k HDB
:2cents:
the presence or absence of COV information will not control HDB prices.
e.g. scenario A: last transaction in XXX area for 4Rm flat - COV $40000
Buyer Y has loads of cash and loves the place and decides to pay $100000 COV. There is no legislation that explicitly forbids this from happening.
e.g. scenario B: last transaction in XXX area for 4Rm flat - no COV data
Buyer Z has loads of cash and loves the place and decides to pay $100000 COV. There is no legislation that explicitly forbids this from happening.
phantom_opera
02-05-12, 11:08
the presence or absence of COV information will not control HDB prices.
e.g. scenario A: last transaction in XXX area for 4Rm flat - COV $40000
Buyer Y has loads of cash and loves the place and decides to pay $100000 COV. There is no legislation that explicitly forbids this from happening.
e.g. scenario B: last transaction in XXX area for 4Rm flat - no COV data
Buyer Z has loads of cash and loves the place and decides to pay $100000 COV. There is no legislation that explicitly forbids this from happening.
Yes, but COV will slow down price appreciation. In PC, as long as bank agrees with valuation (even is 100k above previous txn), txn can go on. For HDB resale, bank only match HDB valuation, extra must be paid in cash by buyer ... if buyer willing to commit 100k above valuation but bank won't lend him and he has not enough cash, then he still can't buy (he needs to wait for COV to come down first but end up he paid even more because during the waiting period, valuation will continue to inch up slowly... )
In other words, PC is more price elastic, HDB resale is less elastic due to COV.
The issue is, if "true valuation" is used for HDB just like PC, then the prices of HDB will be fully subjected to open/free market economics. And under free market, pty prices will rocket in an up cycle (like now). This is then politically incorrect.
therefore HDB prices should/will never be market driven. buy at 800 rent at 2000 makes no sense in free market context, but it makes perfect sense politically.
the 2nd part of the argument is partly flawed. the ex and current MND minister has reiterated that the land, on which HDB is built on, will be priced accordingly to the market.
Yes, but COV will slow down price appreciation. In PC, as long as bank agrees with valuation (even is 100k above previous txn), txn can go on. For HDB resale, bank only match HDB valuation, extra must be paid in cash by buyer ... if buyer willing to commit 100k above valuation but bank won't lend him and he has not enough cash, then he still can't buy (he needs to wait for COV to come down first but end up he paid even more because during the waiting period, valuation will continue to inch up slowly... )
In other words, PC is more price elastic, HDB resale is less elastic due to COV.
i agree that COV data should inhibit craziness and in turn, curb unsustainable price appreciation. what i'm arguing is that COV data, or the lack of, does not control or contain HDB prices.
these are two distinct matters
these are two distinct matters
... what do you mean by "distinct" ? I think here we are all debating the scenario where there is no COV and everything is like PC i.e. no such valuation + COV mechanism ?
In other words, PC is more price elastic, HDB resale is less elastic due to COV.
From a broader perspective, this just shows that there is something seriously wrong with our property valuation process. Just look at the new launches, how the valuer justify the prices? And how come for PC, valuation can be so flexible? It seems that valuers are just a means to an end for developers and banks alike. :doh:
phantom_opera
02-05-12, 11:38
From a broader perspective, this just shows that there is something seriously wrong with our property valuation process. Just look at the new launches, how the valuer justify the prices? And how come for PC, valuation can be so flexible? It seems that valuers are just a means to an end for developers and banks alike. :doh:
Actually except a few special launches like SH / KR / BR ... I don't think every new launch is setting benchmark valuation ... higher psf also you must differentiate between SOHO (e.g. FEO's Seahill) and normal height units (The Vision)
What is more alarming is if land bid price keeps going up e.g. the recent Pasir Ris parcel was sold near 500psf and the upcoming Jurong East MRT piece land parcel target psf is > 650psf ... remember My Manhantan land bid was around 520psf only
The problem is because COV slows the price appreciation ...
U r of course correct.. but I believe in CDL Kwek's famous word: "sell on the way up" :)
phantom_opera
02-05-12, 11:44
U r of course correct.. but I believe in CDL Kwek's famous word: "sell on the way up" :)
LOL ... if I have 10 HDB units of course can sell on the way up but HDB can only have one unit ... one RING that rules them alll ... MY PRECIOUS :D
Agree with u ... will sell when valuation up by another 100k
the presence or absence of COV information will not control HDB prices.
e.g. scenario A: last transaction in XXX area for 4Rm flat - COV $40000
Buyer Y has loads of cash and loves the place and decides to pay $100000 COV. There is no legislation that explicitly forbids this from happening.
e.g. scenario B: last transaction in XXX area for 4Rm flat - no COV data
Buyer Z has loads of cash and loves the place and decides to pay $100000 COV. There is no legislation that explicitly forbids this from happening.
This scenario assumes that Buyer Y and Buyer Z is stoooopid ?
And that HDB flats are sooooo unique ? Dont forget, HDB only got a handful of floor plans. Most flats are built as similar as the previous one as it can possibly be.
I dont have much experience in HDB flats transactions.
DKSG
... what do you mean by "distinct" ? I think here we are all debating the scenario where there is no COV and everything is like PC i.e. no such valuation + COV mechanism ?
don't get me wrong. i'm all for publishing COV data as it helps buyers to make an informed decision.
what i'm debating about is even with COV, it does not control HDB prices as any resale transaction involves a willing buyer and a willing seller. there is no law to explicitly prohibit a buyer to offer any amount of COV, be it stupidity or not.
This scenario assumes that Buyer Y and Buyer Z is stoooopid ?
And that HDB flats are sooooo unique ? Dont forget, HDB only got a handful of floor plans. Most flats are built as similar as the previous one as it can possibly be.
I dont have much experience in HDB flats transactions.
DKSG
stupid maybe, but richly surely. there are people snapping up HDB at 900k and HUDC at 1.4m.
there is no law to prohibit stupidity eh?
From a broader perspective, this just shows that there is something seriously wrong with our property valuation process. Just look at the new launches, how the valuer justify the prices? And how come for PC, valuation can be so flexible? It seems that valuers are just a means to an end for developers and banks alike. :doh:
if i may add, for the govt too.
stupid maybe, but richly surely. there are people snapping up HDB at 900k and HUDC at 1.4m.
there is no law to prohibit stupidity eh?
I rather be stupidly rich than richly stupid.
phantom_opera
02-05-12, 15:09
CASPIAN LAKESIDE DRIVE Condominium 1 605,000 463 Strata 1,307psf Apr-12
:cheers5: to Caspian owners ... was 600psf in 2009 ... X 2 in 3y, that's why best return is still OCR 1br or MM ... nothing else can beat
CASPIAN LAKESIDE DRIVE Condominium 1 605,000 463 Strata 1,307psf Apr-12
:cheers5: to Caspian owners ... was 600psf in 2009 ... X 2 in 3y, that's why best return is still OCR 1br or MM ... nothing else can beat
But there is nothing they can do. I think most buy Jurong as owner occupied. So they cant sell coz the replacement cost will be the same. And being in Jurong, there is not much place left to downgrade. Unlike say Holland Road, you can still sell, take profit and downgrade to Jurong.
DKSG
Condo Kaiser
02-05-12, 16:06
All those people sitting on 100% paper gain on their principle residence, instead of selling, they just need to take equity loan.
This is what is driving the sales of small quantum units, all can easily unlock 200 - 400 k equity from their house, all chiong to whack new launch dreaming about another 100% return in 3 years...
:stupid:
lets hope their dream come true...
But there is nothing they can do. I think most buy Jurong as owner occupied. So they cant sell coz the replacement cost will be the same. And being in Jurong, there is not much place left to downgrade. Unlike say Holland Road, you can still sell, take profit and downgrade to Jurong.
DKSG
What you talking... With the hard cash 300k profit in hand, can easily find better elsewhere liao. Still Jurong... Omg. Anyway Caspian owners cant move in yet so they just buy something else lor.... Maybe one that TOP soon. Say Suites @ Topaz or Centra x in Geylang. Beats Jurong anytime. No change in lifestyle... Or buy resale hdb in way better location.
What you talking... With the hard cash 300k profit in hand, can easily find better elsewhere liao. Still Jurong... Omg. Anyway Caspian owners cant move in yet so they just buy something else lor.... Maybe one that TOP soon. Say Suites @ Topaz or Centra x in Geylang. Beats Jurong anytime. No change in lifestyle... Or buy resale hdb in way better location.
...think you are out of sync.....Jurong has bright future in terms of amenities and possibilities.
Got chance to hit 1k resales in April..currently close to 700 units in the first 20 days if include subsale as well :scared-5: :scared-5:
http://www.businesstimes.com.sg/archive/thursday/premium/top-stories/private-home-resales-spring-back-life
Published April 26, 2012
Private home resales spring back to life
Startling turnaround in March on the heels of high prices at new home launches
By Kalpana Rashiwala
[SINGAPORE] After going into deep freeze since the additional buyer's stamp duty (ABSD) was introduced on Dec 8, resale transactions of completed private homes snapped back to life in March. The recovery was partly disguised amid the first quarter figures, weighed down by dismal volumes in January and February.
In fact, Savills Singapore's analysis shows that resale volumes for March have recovered to levels seen before the ABSD kicked in. The turnaround was sudden, as the resale market had remained jittery even while buyers were returning to property launches in the first two months of the year.
However, since March, agents say that some of the eye-popping per square foot (psf) prices achieved at new launches have helped to jumpstart interest in the secondary market for completed properties, where prices look more attractive.
Savills' analysis of URA Realis caveats data shows 1,142 resale deals for private homes (excluding ECs and en bloc sales) done in March - double the 565 caveats for February and more than three times January's volume of 314 transactions. The March number also exceeds December's volume of 776 and November's 981.
"Given that the average monthly resale volume for 2011 was 1,166 transactions, the March numbers show that resale volumes have recovered back to pre-ABSD levels," said Savills Singapore research head Alan Cheong.
The March 2012 resale volume is still 23 per cent below the 1,480 caveats lodged in March 2011.
The final tally for March 2012 could rise as more caveats stream in over the next few weeks. Savills' analysis, based on caveats captured by URA Realis as at April 24, also showed 332 resale transactions being done so far this month.
Savills commented: "The pace of resales in April is still healthy. Agents are still conducting frequent viewings and enquiries. Barring any new property cooling measures or external shocks, resales should remain robust for the next few months - given the current low interest rate environment, liquidity and increasing population scenario, among other factors."
The weak performance in the first two months dragged down the volume of resale deals of private homes for Q1 this year to 2,021, a decline of nearly 25 per cent from 2,688 in the preceding quarter and a year-on-year drop of 42.3 per cent from 3,503 units in Q1 2011.
"When the ABSD was imposed on Dec 8, 2011, new home sales practically froze in the following weeks. Subsequent to the successful launch of Watertown and Parc Rosewood in January, resale buyers took a while to fully absorb the fact that the property market still has legs. Only in March did they put pen to paper," said Mr Cheong.
Agents report that high prices achieved for 99-year leasehold suburban launches like Watertown in Punggol (with median prices of about $1,340 psf in February and March) and Sky Habitat in Bishan, which marked a new record for the suburban condo market based on an average price said to be about $1,650 psf after taking into account the initial 3 per cent discount given to all buyers - have helped to stir interest in the resale market and in projects launched earlier that are still being marketed by developers.
Archipelago, a five-storey, 99-year condo facing Bedok Reservoir Park, is going at about $1,000 psf on average.
Compared to Sky Habitat, resale prices for some completed freehold properties in the prime districts would appear attractive to some buyers, say agents. For example, a 990 sq ft ground floor unit at One Jervois changed hands for $1,515 psf (reflecting an absolute price of $1.5 million) in March, while a 947 sq ft unit on the third floor of Jervois Regency sold for $1,361 psf (about $1.29 million) in April.
A 12th floor unit of 2,250 sq ft at Residences@ Evelyn changed hands at $1,609 psf in March, while a 2,508-sq ft fourth floor unit at Chelsea Gardens at Walshe Road sold for $3.8 million, which works out to $1,515 psf.
David Neubronner, director of residential project sales, Jones Lang LaSalle, said: "Completed freehold properties at Meyer Road and in Districts 10 and 11 priced at $1,500-1,600 psf represent good values for owner occupiers."
Although psf prices are higher for new launches, absolute price quantums are generally bigger for older completed projects as units are mostly larger.
"Buyers of resale properties may be a different group than those buying in the primary market; they could be better heeled," suggests an agent.
Credo Real Estate executive director (residential) Manjit Gill says the company has seen an increase in enquiries and requests for viewings of completed properties in the resale market, particularly those in the vicinity of new launches.
"While psf prices are lower in the resale market, buyers would have to make full payment of the purchase price upon completion of sale (usually in three months) whereas if they buy a unit from a developer in a newly launched project, progress payments can stretch over the three years or more that it takes to complete the project," he adds. Lower psf prices in the resale market may also be due to the age of the project and its facilities.
Got chance to hit 1k resales in April..currently close to 700 units in the first 20 days if include subsale as well :scared-5: :scared-5:
Current Resales figure in the month April till Apr 30th is at 976, about a ~9% drop. from last month. Howwwww, pple non-stop buying and ah b non stop screaming dowwnn. Will it down another 50% in prices ?
Current Resales figure in the month April till Apr 30th is at 976, about a ~9% drop. from last month. Howwwww, pple non-stop buying and ah b non stop screaming dowwnn. Will it down another 50% in prices ?
The stock market is not doing well and Euro concerns are re-surfacing. I wonder how much sentiments are going to be affected. By next week we would have a better gauge if May is going to be better than April
The stock market is not doing well and Euro concerns are re-surfacing. I wonder how much sentiments are going to be affected. By next week we would have a better gauge if May is going to be better than April
Last year, same thing happened right ?
Stock market volatile, people buy lotsa properties.
I think many people subscribe to the notion that parking money in properties is better than stock market.
DKSG
at least subject to less volatility.
Last year, same thing happened right ?
Stock market volatile, people buy lotsa properties.
I think many people subscribe to the notion that parking money in properties is better than stock market.
DKSG
My take is that the underpinnings of the Euro situation will hit sentiment and as we all know, sentiment has a big part to play be it stock, property or any big ticket item. I hope I am wrong but this time the situation is looking serious.
That will be the time to move it.
My take is that the underpinnings of the Euro situation will hit sentiment and as we all know, sentiment has a big part to play be it stock, property or any big ticket item. I hope I am wrong but this time the situation is looking serious.
And so what do central banks do when sentiments are weak?
Keep the sinking raft afloat by inflating it.
And so what do central banks do when sentiments are weak?
And so what do central banks do when sentiments are weak?
In particular, the ECB is also trying to find it footing in the aftermath of the Greek and French elections. They're probably waiting for signals to come from Germany which is very quiet lately, except from the latest statement from their Finance minister that Greece should leave the Euro:scared-1: . I hope they all get their act together fast...
Wise to let it go when the time is right.
In particular, the ECB is also trying to find it footing in the aftermath of the Greek and French elections. They're probably waiting for signals to come from Germany which is very quiet lately, except from the latest statement from their Finance minister that Greece should leave the Euro:scared-1: . I hope they all get their act together fast...
In particular, the ECB is also trying to find it footing in the aftermath of the Greek and French elections. They're probably waiting for signals to come from Germany which is very quiet lately, except from the latest statement from their Finance minister that Greece should leave the Euro:scared-1: . I hope they all get their act together fast...
They longer they take, the more likely they will print even more.
Wise to let it go when the time is right.
True. Just hope they don't leave a big mess when it happens.
They will have to engineer an orderly exit somehow if the exit is to happen.
It is already in a mess since 1970s. It will only get worst. Look at Japan which is in recession in the last 20years.
True. Just hope they don't leave a big mess when it happens.
It is already in a mess since 1970s. It will only get worst. Look at Japan which is in recession in the last 20years.
And what consistently happened in the last 20 years?
The problem started with US delinking US$ from Gold in 1960s and actor reagan printing massive amount of US$.
And what consistently happened in the last 20 years?
The problem started with US delinking US$ from Gold in 1960s and actor reagan printing massive amount of US$.
Bingo. You don't need rocket science degree to figure that one.
Inflation will come and cash can only buy less things. Holding real asset is still a better choice.
Bingo. You don't need rocket science degree to figure that one.
Inflation will come and cash can only buy less things. Holding real asset is still a better choice.
Hah...then back to full circle of being asset-rich, cash poor. The cycle never ends.
Hah...then back to full circle of being asset-rich, cash poor. The cycle never ends.
Would you rather be rich in something that depreciates and loses value.
I am talking about asset as a cash cow generating passive income from rental.
Hah...then back to full circle of being asset-rich, cash poor. The cycle never ends.
I am talking about asset as a cash cow generating passive income from rental.
Unlike gold, real estate has the added benefit of generating cash flow.
Hurray to the big joke. :cheers5:
U.S. Posted Budget Surplus of $59.1 Billion in April (http://www.bloomberg.com/news/2012-05-10/u-s-posted-budget-surplus-of-59-1-billion-in-april.html)
Powered by vBulletin® Version 4.2.2 Copyright © 2024 vBulletin Solutions, Inc. All rights reserved.