More condominium units returned in first half of this year

[rymccondo77]

From Channel News Asia:

SINGAPORE: More buyers are returning their condominium units.

Figures from a Singapore property research firm show the number has doubled in the first half of this year, compared to the same period last year.

Between January and July this year, over 720 units have been returned.

The figure was 488 during the same period last year.

Buyers who return units forfeit 1.25 per cent of the property value.

Analysts cite two main reasons for the spike.

Lim Yong Hock, senior vice-president, PropNex, said: "In the past six months, some property prices have exceeded S$1,800 per square foot. Some buyers who purchase on impulse may later regret and pull out. Another reason could be (that) some buyers are unable to secure a bank loan."

- CNA/cc

http://www.channelnewsasia.com/stories/singaporelocalnews/view/1223439/1/.html

[danntbt]

From Channel News Asia:

SINGAPORE: More buyers are returning their condominium units.

Figures from a Singapore property research firm show the number has doubled in the first half of this year, compared to the same period last year.

Between January and July this year, over 720 units have been returned.

The figure was 488 during the same period last year.

Buyers who return units forfeit 1.25 per cent of the property value.

Analysts cite two main reasons for the spike.

Lim Yong Hock, senior vice-president, PropNex, said: "In the past six months, some property prices have exceeded S$1,800 per square foot. Some buyers who purchase on impulse may later regret and pull out. Another reason could be (that) some buyers are unable to secure a bank loan."

- CNA/cc

http://www.channelnewsasia.com/stories/singaporelocalnews/view/1223439/1/.html
....the analyst left out the fact that the number of units have also increased by how many %? Absolute number can distort the true ratio of returned units.....depends on how you want your readers to read your figures....you can cook your numbers....

[radha08]

From Channel News Asia:

SINGAPORE: More buyers are returning their condominium units.

Figures from a Singapore property research firm show the number has doubled in the first half of this year, compared to the same period last year.

Between January and July this year, over 720 units have been returned.

The figure was 488 during the same period last year.

Buyers who return units forfeit 1.25 per cent of the property value.

Analysts cite two main reasons for the spike.

Lim Yong Hock, senior vice-president, PropNex, said: "In the past six months, some property prices have exceeded S$1,800 per square foot. Some buyers who purchase on impulse may later regret and pull out. Another reason could be (that) some buyers are unable to secure a bank loan."

- CNA/cc

http://www.channelnewsasia.com/stories/singaporelocalnews/view/1223439/1/.html

for once i see a chinese name from propnex....:D

[Ringo33]

not surprising actually. If you have bought a soho or mm unit from developers like FEO on impulse, after doing a search on price of CCR MM, you will most likely to forgo the booking deposit. At 1800psf, there is definitely no shortage of choices.

[radha08]

not surprising actually. If you have bought a soho or mm unit from developers like FEO on impulse, after doing a search on price of CCR MM, you will most likely to forgo the booking deposit. At 1800psf, there is definitely no shortage of choices.

sayang should SEARCH before buying...:D

[Ringo33]

sayang should SEARCH before buying...:D

the problem is that many people living in OCR region have always thought that CCR property will be out of reach, thats why they didnt bother to check.

And developers these days are very smart too. they throw in some highend appliance which you would never imagine you could afford into the apartment and then sell you at 1800psf. And buyer doesnt realise that when they buy such property, they should look at the property minus away all these appliances because these appliances are only good for a few years, not 99 years.

[danntbt]

the problem is that many people living in OCR region have always thought that CCR property will be out of reach, thats why they didnt bother to check.

And developers these days are very smart too. they throw in some highend appliance which you would never imagine you could afford into the apartment and then sell you at 1800psf. And buyer doesnt realise that when they buy such property, they should look at the property minus away all these appliances because these appliances are only good for a few years, not 99 years.
.....care to name OCR SOHO going for 1800psf?...and have you seen the data on returned units? Care to share the proportion of MM units returned?..or you arrived at your conclusion based on the short paragraph in the link? The writer did not seemed to have mentioned that he was referring to OCR when he mentioned 1800psf.....?

[Ringo33]

.....care to name OCR SOHO going for 1800psf?...and have you seen the data on returned units? Care to share the proportion of MM units returned?..or you arrived at your conclusion based on the short paragraph in the link? The writer did not seemed to have mentioned that he was referring to OCR when he mentioned 1800psf.....?

http://www.squarefoot.com.sg/market-watch/returned-units

[eng81157]

the problem is that many people living in OCR region have always thought that CCR property will be out of reach, thats why they didnt bother to check.

And developers these days are very smart too. they throw in some highend appliance which you would never imagine you could afford into the apartment and then sell you at 1800psf. And buyer doesnt realise that when they buy such property, they should look at the property minus away all these appliances because these appliances are only good for a few years, not 99 years.

i believe most savvy investors won't purchase on impluse upon seeing the developer throwing in a bosch or grohe.

[DC33_2008]

You must know that most savvy investors have stopped investing for a long while. You must look at the profile of the recent buyers. One of the groups has some sparer cash and a paid up home and retiring soon. This group can buy by peed pressure in a showflat.
i believe most savvy investors won't purchase on impluse upon seeing the developer throwing in a bosch or grohe.

[JuzMe]

Jumped into bandwagon without proper research. Sometimes they get caught in heat of the moment reading about property prices going up & up. Economy's slowing down so more likely property market will cool down.

[radha08]

maybe they read Mr b...thread...:scared-1:

[eng81157]

i would rather attribute it to herd kiasu mentality + inability to think straight.

[danntbt]

http://www.squarefoot.com.sg/market-watch/returned-units
??????? how did you deduce that majority of the units returned are MM? Its just a list of developments showing returned unit...anyway...to compare 2009 low is ridiculous as in 2009, the units sold were marginal compared to current market condition....do you have a figure on the proportion of MM units returned in comparison with non-MM units?...and which OCR MM units that are selling at $1800 psf?

[Ringo33]

??????? how did you deduce that majority of the units returned are MM? Its just a list of developments showing returned unit...anyway...to compare 2009 low is ridiculous as in 2009, the units sold were marginal compared to current market condition....do you have a figure on the proportion of MM units returned in comparison with non-MM units?...and which OCR MM units that are selling at $1800 psf?

OCR MM selling above $1800psf

http://www.fareast.com.sg/images/feo/downloads/price-lists/Seahill%20%2826%20Aug%202012%29.pdf

[danntbt]

OCR MM selling above $1800psf

http://www.fareast.com.sg/images/feo/downloads/price-lists/Seahill%20%2826%20Aug%202012%29.pdf
...you might want to check :

http://www.squarefoot.com.sg/trends-and-analysis/residential?p=seahill
what's the average price?
or check:
http://www.ura.gov.sg/realEstateWeb/realEstate/pageflow/transaction/TransactionController.jpf

select seahill


AND MAIN QUESTION:
..u have any data showing MMs contribute to the highest proportion of Returned units?

[Ringo33]

...you might want to check :

http://www.squarefoot.com.sg/trends-and-analysis/residential?p=seahill
what's the average price?
or check:
http://www.ura.gov.sg/realEstateWeb/realEstate/pageflow/transaction/TransactionController.jpf

select seahill


AND MAIN QUESTION:
..u have any data showing MMs contribute to the highest proportion of Returned units?

I am not sure why are you asking me the same question over and over again. It will be great if you could read this thread from page 1 again before asking questions which I dont even have a clue.

Seahill is project with an astronomically of high psf price for OCR property and I am just relating that to the high return rate as well (if you compared the number of units sold). most expensive unit so far is $1759psf for a 861sqft, #20-15 Soho, and this is not even talking about the premium floor small units from 25floor and above.

Appreciate if you can stop all the MAIN QUESTION

[danntbt]

I am not sure why are you asking me the same question over and over again. It will be great if you could read this thread from page 1 again before asking questions which I dont even have a clue.

Seahill is project with an astronomically of high psf price for OCR property and I am just relating that to the high return rate as well (if you compared the number of units sold). most expensive unit so far is $1759psf for a 861sqft, #20-15 Soho, and this is not even talking about the premium floor small units from 25floor and above.

Appreciate if you can stop all the MAIN QUESTION


.....well guess you cannot answer, hahahahaha, because you don't get it.

[Ringo33]

.....well guess you cannot answer, hahahahaha, because you don't get it.

MAIN QUESTION:
..do u have any data showing MMs DIDNT contribute to the high proportion of Returned units?