Most developers unlikely to give discounts: Experts

[reporter2]

http://www.straitstimes.com/premium/top-the-news/story/most-developers-unlikely-give-discounts-experts-20121009

Most developers unlikely to give discounts: Experts

Published on Oct 09, 2012

By Amanda Tan


AT LEAST one property developer here is offering an effective discount on homes in the wake of the latest cooling measures.

But property experts do not expect all developers to follow suit.

Far East Organization's immediate response was to give a 2 per cent furniture voucher for units at its newest launch, eCO, to mitigate the effects of the new home loan rules.

It is now giving a 1.5 per cent sweetener - in the form of furniture vouchers - until Thursday, for eCO at Bedok South Avenue 3.

Far East is also offering furniture vouchers for other projects in response to the measures.

At the weekend, it sold a total of 51 units at various projects. eCO was the top performer.

Qingjian Realty (South Pacific) said it sold 15 units at two projects, River Isles and Riversound Residence in Punggol.

"As our buyers tend to be younger, it does not affect the sales for the two projects. Hence, we did not offer any discounts to mitigate the recent cooling measure," said Mr Li Jun, Qingjian's deputy general manager.

It was a similar story for city centre condominium V on Shenton.

Mr Michael Ng, group general manager of developer UIC, said the measures did not affect sales much. Five units were sold at the weekend.

"Our buyers are mostly upper-end investors who have ready cash," he said.

"(The new rules will affect more) the heartlanders who are looking to buy a second or third property... They will have to think more carefully."

But Allgreen Properties, behind recent launch Riversails, said weekend sales were slightly slower than sales in the previous week. Since last Friday, 80 units have been sold.

"We think there was probably a marginal impact... as with any knee-jerk reaction," said sales director Yong Voon Chen.

"We understand the latest measures imposed and fully agree with the thinking behind them. However, we believe the impact will be minimal in the long run," he added.

Koh Brothers, behind projects such as Parc Olympia in Pasir Ris, also said it was not offering perks or discounts now.

"Based on our experience, buyers in Singapore generally do not take up loans above a 35-year period. Hence, we do not expect the newly implemented cooling measure of a loan limit cap to significantly affect buyer sentiment," the developer said.

A City Developments spokesman said: "As these measures have just been released, the market will take time to absorb the news, and we will assess the situation accordingly."

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[Regulators]

Very simple, just dont buy if no discounts, after all we all already have a roof over our heads :D

[radha08]

Very simple, just dont buy if no discounts, after all we all already have a roof over our heads :D

but everybody is buying...ah beng ah seng ah te ah kau....then how:scared-5:

if dont buy then they will overtake us...one day maybe we need to rent from them..how...:doh:

[Wild Falcon]

The most useless cooling measure ever. If the govt really serious about cooling the market, please do it properly with conviction - not this kind of half-hearted effort about banning loans above 35 years.

[phantom_opera]

One ring that rules them all, the higher it goes, the more ubwant to buy

[cnud]

Preeciooosszzz....!!

http://i560.photobucket.com/albums/ss41/fellowship-of-simarilli/gollum/gollum.png

[Regulators]

actually this cm not to kill the market, it is just to shake off some buyers from new launches.


The most useless cooling measure ever. If the govt really serious about cooling the market, please do it properly with conviction - not this kind of half-hearted effort about banning loans above 35 years.

[minority]

actually this cm not to kill the market, it is just to shake off some buyers from new launches.


Wrong more people will cheong OCR new launch. Coz with 4y SSD and ABSD and 35yr cap on loan. a yr build up is gradual increase in mthly payment only. so ok.. investor will go for it stretch try to sell off once TOP 4yrs later! min int payment and smaller quantum only the last few yrs. the 40% down or 60% down only hit during the 2yrs later mah! worry then!!!!

[vip]

but everybody is buying...ah beng ah seng ah te ah kau....then how:scared-5:

if dont buy then they will overtake us...one day maybe we need to rent from them..how...:doh:

It's our kiasu culture or "the fear of losing out" again.

Last time we buy properties because we want to win. Since when we lower our expectation to buy properties just not to lose out?

But what's the point of spending one or two million, service the loan for 35 years, just hoping not to lose out?

(Quote from The fear of losing out http://propertysoul.com/2012/10/08/the-fear-of-losing-out-part-i-cooling-measures/)

[phantom_opera]

It's our kiasu culture or "the fear of losing out" again.

Last time we buy properties because we want to win. Since when we lower our expectation to buy properties just not to lose out?

But what's the point of spending one or two million, service the loan for 35 years, just hoping not to lose out?

(Quote from The fear of losing out http://propertysoul.com/2012/10/08/the-fear-of-losing-out-part-i-cooling-measures/)

Tiong Bahru 1969 3r HDB 6.2k, now 300k, 9% pa compound growth

Even if you assume 6% pa compound for next 24y, a 3r HDB will double and redouble to 1.2m

Taking about "not to lose out" :D

[vip]

Tiong Bahru 1969 3r HDB 6.2k, now 300k, 9% pa compound growth

Even if you assume 6% pa compound for next 24y, a 3r HDB will double and redouble to 1.2m

Taking about "not to lose out" :D

Yes, most buyers these days have this mentality.

In fact, I owe these buyers a big one. I made my bucket of gold from fishing at the bottom during 2002 and 2004, buying from fire sale and mortgagee sale - people who bought at the previous market peaks in 1996 and 2000.

Learning from other "pros", I am waiting for the next big one.

The cycle repeats itself in history. But at every peak, people in the street all say "no, this time it's going to be different".

[phantom_opera]

Yes, most buyers these days have this mentality.

In fact, I owe these buyers a big one. I made my bucket of gold from fishing at the bottom during 2002 and 2004, buying from fire sale and mortgagee sale - people who bought at the previous market peaks in 1996 and 2000.

Learning from other "pros", I am waiting for the next big one.

The cycle repeats itself in history. But at every peak, people in the street all say "no, this time it's going to be different".


what if it grows at < 5%pa for another 10y ... when would you start buying :p

[Leeds]

Tiong Bahru 1969 3r HDB 6.2k, now 300k, 9% pa compound growth

Even if you assume 6% pa compound for next 24y, a 3r HDB will double and redouble to 1.2m

Taking about "not to lose out" :D

Such statement is effective only to win an urgument.

It is just like any housing agent telling his/her cient that if you are buying for the long term and/or if you have holding power, anyime is a good time to buy.

If we look at the price index over 30 years (if any) the overall picture could be true. However, if we look at the price index within the period of 30-year itself, there were up and down. These were the times when some people would win and some people would lose. The people who win were the one who buy at the right time and the people who lose were the one who sold at the wrong time.

A sound investor would not enter the market unless he/she sees values in the investment.

[phantom_opera]

Such statement is effective only to win an urgument.

It is just like any housing agent telling his/her cient that if you are buying for the long term and/or if you have holding power, anyime is a good time to buy.

If we look at the price index over 30 years (if any) the overall picture could be true. However, if we look at the price index within the period of 30-year itself, there were up and down. These were the times when some people would win and some people would lose. The people who win were the one who buy at the right time and the people who lose were the one who sold at the wrong time.

A sound investor would not enter the market unless he/she sees values in the investment.

Of course I agree with u because I "think" I am Master of Timing ...But there is another camp of investors who said you can never time the market ...:o

[Secretariat]

Of course I agree with u because I "think" I am Master of Timing ...But there is another camp of investors who said you can never time the market ...:o

Yes, long term investor ala W Buffett. :D

[fclim]

It's our kiasu culture or "the fear of losing out" again.

Last time we buy properties because we want to win. Since when we lower our expectation to buy properties just not to lose out?

But what's the point of spending one or two million, service the loan for 35 years, just hoping not to lose out?

Only this time, you are running against time. haha.. reminds me of the movie, In Time. Now, Time is Money.

You literally need to pay if you want to extend the life of your loan.

[phantom_opera]

Only this time, you are running against time. haha.. reminds me of the movie, In Time. Now, Time is Money.

You literally need to pay if you want to extend the life of your loan.

+Like X100

[cnud]

Let them wait. It's ok. By the time, I would have sold with profit.

[carbuncle]

past history not guarantee of future performance. wait lo... your money may still be intact but your life, your experiences all gone to nought from the waiting

[carbuncle]

market can live on forever.... people don't

markets can wait. life won't.

[minority]

So is what? Cheong or dont Cheong?

[PN]

Let them wait. It's ok. By the time, I would have sold with profit.
Bro your photo very scary. See already have nightmare every night. CMCMCMCMCMCMCMCMCMCMCMCMCMCMCM

[Pikachu1245]

So is what? Cheong or dont Cheong?

If can afford and hold, I feel should cheong liao.....still wait?

More CM and international competition may come...as long as interest is low and more QE from US and bond buying from EU/Japan/China etc.

For those who have sold their properties (2 years ago) thinking property may 'tank' still waiting to enter, think the boat has passed and only sampan floating here and there (i.e. for the same price that can buy 1200sf condo 2-5years ago, now only can buy 800-1000sf for same location).

Some even lamented that they have missed the boat.......and may be able to buy raft in future only (i.e. MM at OCR for same price)

In conclusion, to cheong or not, it's up to you beaing above in mind....

My :2cents: view.

[kane]

developers will give discount when this forum is like a ghost town.

[dunatos]

developers will give discount when this forum is like a ghost town.

Hahaha... forum activity index :cheers1:

[minority]

developers will give discount when this forum is like a ghost town.


maybe thats why this forum keep going up n down. trying to mimic the market.