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Hi, just check here. If developer lower price in the case of poor sale, is it possible for the existing buyers to ask for compensation? Anyone has this kind of experience to share? TIA
Hi, just check here. If developer lower price in the case of poor sale, is it possible for the existing buyers to ask for compensation? Anyone has this kind of experience to share? TIA
sign OTP n S&P legal binding..u think developer will compensate u?
Hi, just check here. If developer lower price in the case of poor sale, is it possible for the existing buyers to ask for compensation? Anyone has this kind of experience to share? TIA
If the developer increases prices for future phases, can the developer ask you for top up?
In the 1980+, Cheong Kong had the price guarantee for the costa del sol at Bayshore Road.
I cannot recall the details, like they guarantee to buy back at certain price if the market dropped.
That is the only one I know so far.
buttercarp
10-10-12, 20:41
Last year in Shanghai, there was a group of Shanghai home owners smashing showroom in protest over falling prices.
http://blogs.wsj.com/chinarealtime/2011/10/25/shanghai-homeowners-smash-showroom-in-protest-over-falling-prices/
That will almost certainly never happen here.
buttercarp
10-10-12, 21:14
In the 1980+, Cheong Kong had the price guarantee for the costa del sol at Bayshore Road.
I cannot recall the details, like they guarantee to buy back at certain price if the market dropped.
That is the only one I know so far.
Found this website about Cheung Kong.
But it mentioned about the buy back scheme in Hong Kong's Laguna Verde.
http://www.presidiopenthouse.com/realestatefundmanager/ck.html
In the 1980+, Cheong Kong had the price guarantee for the costa del sol at Bayshore Road.
I cannot recall the details, like they guarantee to buy back at certain price if the market dropped.
That is the only one I know so far.
I tot it was thomson800. Maybe I wrong. Memory failing. Should surf to check out
Hi, just check here. If developer lower price in the case of poor sale, is it possible for the existing buyers to ask for compensation? Anyone has this kind of experience to share? TIA
are you kidding? which product in the world allows that?
are you kidding? which product in the world allows that?
if such a program exist, CDL can ask for recourse from the buyers of Arte and Fraser can ask for recourse from the buyers for Caspian. heh.
if such a program exist, CDL can ask for recourse from the buyers of Arte and Fraser can ask for recourse from the buyers for Caspian. heh.
like that no need to invest liao. win or lose will be compensated anyway.
like that no need to invest liao. win or lose will be compensated anyway.
everyone will go buy the most expensive property that they can afford, because bao jiak. lose money can get back from developer. heh.
I tot it was thomson800. Maybe I wrong. Memory failing. Should surf to check out
Chestnut is right.. It's Thomson800:
Under its Guaranteed Appreciation Plan, Cheung Kong was prepared to offer buyers a 10 per cent capital appreciation in about five years for units at Thomson 800 as well as protecting buyers against price falls of up to 10 per cent. If the valuation increased by less than 10 per cent above the purchase price, the developer would pay buyers the difference.
Pikachu1245
10-10-12, 22:57
sign OTP n S&P legal binding..u think developer will compensate u?
Wondering if the recently implemented 'Lemon Law' can be applied here? :beats-me-man:
Wondering if the recently implemented 'Lemon Law' can be applied here? :beats-me-man:
I SCREAM LEMON!
Chestnut is right.. It's Thomson800:
Under its Guaranteed Appreciation Plan, Cheung Kong was prepared to offer buyers a 10 per cent capital appreciation in about five years for units at Thomson 800 as well as protecting buyers against price falls of up to 10 per cent. If the valuation increased by less than 10 per cent above the purchase price, the developer would pay buyers the difference.
so did any of the buyers activate the compensation clause?
so did any of the buyers activate the compensation clause?
By then, I think all the prices shot up liao.
Right. It was sold in late 1998 at around $600+psf. In 2005, it transacted at around $500-$600psf. I wonder at what timeline do they set the 10% price change cutoff.
UltimateAro888
11-10-12, 07:44
Hi, just check here. If developer lower price in the case of poor sale, is it possible for the existing buyers to ask for compensation? Anyone has this kind of experience to share? TIA
Tough.. I know the feeling. That time the developer (or marketing agency) give rebate 2%to this new sales just week after I bought.
I did try to get help from the laywer who does my loan contract .The lawyer wrote to developer, and developer deny it as debate was given by agency...
I think No way.
In the 1980+, Cheong Kong had the price guarantee for the costa del sol at Bayshore Road.
I cannot recall the details, like they guarantee to buy back at certain price if the market dropped.
That is the only one I know so far.
You mean the Costa del Sol by Cheung Kong Holdings sold in year 2000?
For the guarantee, the developer kept the same price level during the subsequent gloomy years. After TOP, there were so many vacant units that the whole development looked very empty for many years. My ex-colleague bought the penthhouse but later had to sell at a loss.
Right. It was sold in late 1998 at around $600+psf. In 2005, it transacted at around $500-$600psf. I wonder at what timeline do they set the 10% price change cutoff.
The time line was 5 years after purchase. When it was sold, it was soon after the Asian financial crisis. You would have thought that things would go up after that. However, 5 years later, SARS hit. The original owners who held the units for 5 years got back 10% of the purchase price in cash.
The time line was 5 years after purchase. When it was sold, it was soon after the Asian financial crisis. You would have thought that things would go up after that. However, 5 years later, SARS hit. The original owners who held the units for 5 years got back 10% of the purchase price in cash.
nice. and that 10% they got coincided with the low of the market.
Wonder got any developers offering such scheme nowadays? :beats-me-man:
The nearest to this I know is the rental guarantee for seletar park residence. :beats-me-man:
Wonder got any developers offering such scheme nowadays? :beats-me-man:
The nearest to this I know is the rental guarantee for seletar park residence. :beats-me-man:
I think not likely after what happened to CK with Thomson 800. I believe they had to pay quite a hefty sum out. These days the economic cycles are much shorter and with whatever swans black white etc coming and going.....it would be a risky bet for developers to make.
Wonder got any developers offering such scheme nowadays? :beats-me-man:
The nearest to this I know is the rental guarantee for seletar park residence. :beats-me-man:
that one kachang puteh next to this 10% guarantee.
that one kachang puteh next to this 10% guarantee.
Ok bro, today I good mood. Let u in on my theory. Whenever the people go into a euphoria, we are almost at the last cycle.
If you see this euphoria in property, start to take notice of cracks. It may happen.
Senario 2, property continues to climb, and u see euphoria in stocks,
Bro, this 1, definitely cycle coming to an end.
As for now, my eyes are opened very big and looking out for tell tale signs.
:cheers1:
Ok bro, today I good mood. Let u in on my theory. Whenever the people go into a euphoria, we are almost at the last cycle.
If you see this euphoria in property, start to take notice of cracks. It may happen.
Senario 2, property continues to climb, and u see euphoria in stocks,
Bro, this 1, definitely cycle coming to an end.
As for now, my eyes are opened very big and looking out for tell tale signs.
:cheers1:
I am seeing scenario 2 as the likely outcome here. US is starting to crawl out of their rut.
And because of unprecedented actions taken, it will create unprecedent outcomes.
And i too believe history always repeats itself. Just in a different magnitude.
I am seeing scenario 2 as the likely outcome here. US is starting to crawl out of their rut.
And because of unprecedented actions taken, it will create unprecedent outcomes.
Wah, you damn good. The next one will be super big. You know, I tell people this, they don't understand.
Wah, you damn good. The next one will be super big. You know, I tell people this, they don't understand.
Can you elaborate on this "super big" one?
Wah, you damn good. The next one will be super big. You know, I tell people this, they don't understand.
if you mean the fiscal cliff, it may not happen even f that's the timelne given. Too much at stake.
blackapple
14-10-12, 10:39
Balance austerity measures with growth, says IMF committee
Meaning print less for more growth. So still printing for a better economy.
As for US, US is in a better shape than 2007-2010. The prolong economic depression has lowered the expectation. That is why the consumer confidence is improving. IMHO, QE3 should be able to restart the economy, but whether it sustain will be at the mercy of political will.
As I mentioned quite a few times, the world will inflate their problems away.
The US and Europe confirm not worried about inflation in Asia.
If they need to inflate the whole world to get out of their problems, they will.
And the impact on our tiny country ? Think, my friends, think!
Huge capital flows has already been flowing into our markets, which is why I suspect MAS acted so swiftly. HK sees a faster reaction because of the lack of currency risk for the US folks.
Soon, you will see whatever fund house set up to buy up assets in our small country.
Imagine, if you have a US$100million fund, at nearly ZERO percent interest payable, all you need to do is to buy Sg properties and park it here for a couple of quarters, either Sing Dollar appreciate you earn (coz Sg has to appreciate our currency to fight inflation), or our property market sizzles because many funds are here to buy. You win !
I think this is not difficult to see la! Even Office Boy can see this.
DKSG
Bro, I agree, let me do some summary:
1. Population growth
2. In flux of money via QE
3. Double gain in investment - capital gain, exchange rate gain of foreign funds to sing investment
Money was first chasing CCR in 05/06, then OCR/RCR. Then came cm. the money started chasing overseas and commercial. The saga of Lehman is still fresh in the minds of many. Ultimately, it will be forgotten and LOCAL money will chase stocks. That is the trigger point if it ever appears.
Funds overseas must show growth and they will go where the immediate term potential is (immediate means short term). Remember 4 tigers, china, bric, etc... Every time, there is a hot spot. Bottomline, hot money is coming here. Period.
What is going to happen over the next 1 year. There will be shocks here and there. This is going to be for a long while. It is not going away anytime soon. So, if you are not well read and analytical, you will be up one day, and down the next (emotions that is)
But this is where u can make some quick buck if you can play the game. So your investments should include some long term and some short term.
People always ask questions like, will it drop next year, even if signs show, you never know if the govt of that country will throw a life jacket out. If they don't, then, recession will happen. So the question should be, what kind of life jacket the govt will throw out should there be cracks?
But I must add, the next recession (when it occurs - will be awhile away. The way I read it now. Nothing is constant) will be big.
One final thing, the magnitude of the stress you have on your investment depends on how much money you have.
Just and example:
Scenario 1.
If you have 3 mil cash and take 1 mil out to play properties, any stress? Nil.
Scenario 2.
If you have 1 mil cash and take out 500k cash to play, a little bit of stress.
Scenario 3
If you have 500 k cash and take out 480k cash to play. Stress starts creeping in.
S you must understand your threshold. If not there are other investment platforms. Properties is not the only 1.
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