View Full Version : Prices of small condo units up again
MM is king.
CCR price down by 1.1%.
Non Central Region rise by 1%.
Very clear sign where the money is flowing to. So dont follow the herd mentality of chasing after prime district.
[SINGAPORE] Prices of small completed private apartments (up to 506 sq ft) climbed for the second month in a row to hit a new peak in August, according to the latest flash estimate from the National University of Singapore (NUS).
Market watchers agree that the data - the Singapore Residential Price Index (SRPI) for small units rose one per cent in August, following a 2.1 per cent climb in July - suggests that buyers are gravitating towards smaller homes.
Given that the absolute quantum of these smaller format units are relatively affordable even after factoring in the effect of the Total Debt Servicing Ratio (TDSR), it is not surprising that they are favoured by buyers and entry-point investors, said Donald Han, managing director of Chesterton Singapore.
The brisk sales witnessed at CapitaLand's Sky Vue attests to this. The development, which was launched the previous weekend, saw 410 of the 505 units released for sale snapped up on the first day. The most popular units were the one-bedroom and two-bedroom units; the average price of a one-bedroom unit was $750,000, while a two-bedroom unit averaged $933,000.
The TDSR framework, along with the other property cooling measures, has also shifted interest to the non-central region, given the lower price quantum, said Nicholas Mak, executive director, research and consultancy at SLP International.
The SPRI for Non-Central Region (excluding small units) rose one per cent, following a 0.4 per cent gain in July.
Conversely, the SPRI for Central Region (excluding small units) slipped 1.1 per cent, reversing a 0.4 per cent gain in July. Central Region is defined as districts 1-4 (including the financial district and Sentosa Cove) and the traditional prime districts 9,10 and 11.
The Overall SRPI was up 0.1 per cent in August, after gaining 0.4 per cent in July.
It is worth noting that overall prices have stayed relatively flat despite a sharp reduction in transaction volumes, said Lee Lay Keng, head of Singapore Research at DTZ.
Based on URA caveats, resale transactions of non-landed private homes fell 27 per cent month-on-month to 388 units in August from 529 units in July. This was the second-lowest monthly resale transaction volume since the beginning of the year; the lowest was in February, after the higher Additional Buyer's Stamp Duties (ABSD) and tighter financing restrictions were introduced.
"Despite the lower transaction volume, resale prices have generally held up as individual sellers in the secondary market have limited incentive to sell their properties unless they receive a premium as their replacement cost is now higher in lieu of the higher ABSD, especially if they are multiple property owners," said Ms Lee.
Moving forward, Chesterton Singapore's Mr Han said he expects prices in the Central area to ease further, although this will likely be compensated by a slight increase in prices in the suburban areas.
astroboy8681
01-10-13, 10:35
MM is king.
CCR price down by 1.1%.
Non Central Region rise by 1%.
Very clear sign where the money is flowing to. So dont follow the herd mentality of chasing after prime district.
in your very own words "don't follow the herd mentality of chasing after PRIME district"
you just shot yourself in the foot again, acknowledging J gaga is not in PRIME district.... was never a PRIME district, will never be PRIME district
was sho sho busy yesterday only came back just and witness "sore thumb" slipped on banana skin, yet again :)
hmmm caught lying thru your teeth, man up will ya :)
in your very own words "don't follow the herd mentality of chasing after PRIME district"
you just shot yourself in the foot again, acknowledging J gaga is not in PRIME district.... was never a PRIME district, will never be PRIME district
was sho sho busy yesterday only came back just and witness "sore thumb" slipped on banana skin, yet again :)
hmmm caught lying thru your teeth, man up will ya :)
I guess this is what happen when a man have too much guts.
They simply lose their ability to think like a civilize human being.
There is no need for you to reply. Just read my signature the next time you are bored.
MM is king.
CCR price down by 1.1%.
Non Central Region rise by 1%.
Very clear sign where the money is flowing to. So dont follow the herd mentality of chasing after prime district.
i think the herd already brought JGateway at 1700 psf
capitaland say they will not build mm, but now LL coz they finally heard the HERD calling.
Regulators
01-10-13, 12:13
So far u r just a NATO (no action talk only). Why don't you try selling your dog box for $900k see who want to buy from you. :doh:
Btw enjoy watching mk88 increase in AVERAGE valuation with each year u wait for jgateway TOP. Just don't bang ur head too hard on the wall lest u disturb ur neighbour :D
MM is king.
CCR price down by 1.1%.
Non Central Region rise by 1%.
Very clear sign where the money is flowing to. So dont follow the herd mentality of chasing after prime district.
i think the herd already brought JGateway at 1700 psf
Very strange! All the data posted, be it sales volume or dollar transacted shows that the herd is chasing the OCRs or Jurong PCs.
So not following the herd means not buying in OCRs now. The herd already herded. And the Jurong PC is one very good example.
In investment, always BUY LOW, SELL HIGH!
Jurong at $1,6xx-$1,7xx is a HIGH!
Any CCR PCs you can find now for $2,0xx is a LOW!
DKSG
blackjack21trader
01-10-13, 13:17
quantum in CCR is too high liao. Will correct more in the coming months.
Good Luck.
MM is an highly priced product designed to capture current market situation. I will avoid this and in the time being save up cash for a bigger unit.
quantum in CCR is too high liao. Will correct more in the coming months.
Good Luck.
which is gd.. this forum has many hidden dragons waiting.
in your very own words "don't follow the herd mentality of chasing after PRIME district"
you just shot yourself in the foot again, acknowledging J gaga is not in PRIME district.... was never a PRIME district, will never be PRIME district
was sho sho busy yesterday only came back just and witness "sore thumb" slipped on banana skin, yet again :)
hmmm caught lying thru your teeth, man up will ya :)
when did R33 ever mentioned that JG is in a prime district or even mentioned that JLD is a prime district?
i think the herd already brought JGateway at 1700 psf
where did you get the figure of 1700psf?
Very strange! All the data posted, be it sales volume or dollar transacted shows that the herd is chasing the OCRs or Jurong PCs.
So not following the herd means not buying in OCRs now. The herd already herded. And the Jurong PC is one very good example.
In investment, always BUY LOW, SELL HIGH!
Jurong at $1,6xx-$1,7xx is a HIGH!
Any CCR PCs you can find now for $2,0xx is a LOW!
DKSG
still mentioning $16xx-17xx. From where do you get the figure of 16xx-17xx?
I guess this is what happen when a man have too much guts.
They simply lose their ability to think like a civilize human being.
There is no need for you to reply. Just read my signature the next time you are bored.
Why , do you think he needs reminding not to argue with you?
Scored a bit of an own goal there......
thomastansb
01-10-13, 16:10
In URA la. In fact, it is closer to 1.8k psf for those high floor studio.
where did you get the figure of 1700psf?
Regulators
01-10-13, 16:16
Highest recorded transaction is 1774psf for a 484sqft unit at jgateway. There were also several units transacted at past 1700psf with another 506sqft unit sold at 1770psf.
where did you get the figure of 1700psf?
In URA la. In fact, it is closer to 1.8k psf for those high floor studio.
why does people keep on mentioning the sensational high prices, instead of average price?
http://www.businesstimes.com.sg/specials/property/prices-small-condo-units-again-20131001
Published October 01, 2013
Prices of small condo units up again
By Mindy Tan
[email protected]
[SINGAPORE] Prices of small completed private apartments (up to 506 sq ft) climbed for the second month in a row to hit a new peak in August, according to the latest flash estimate from the National University of Singapore (NUS).
Market watchers agree that the data - the Singapore Residential Price Index (SRPI) for small units rose one per cent in August, following a 2.1 per cent climb in July - suggests that buyers are gravitating towards smaller homes.
Given that the absolute quantum of these smaller format units are relatively affordable even after factoring in the effect of the Total Debt Servicing Ratio (TDSR), it is not surprising that they are favoured by buyers and entry-point investors, said Donald Han, managing director of Chesterton Singapore.
The brisk sales witnessed at CapitaLand's Sky Vue attests to this. The development, which was launched the previous weekend, saw 410 of the 505 units released for sale snapped up on the first day. The most popular units were the one-bedroom and two-bedroom units; the average price of a one-bedroom unit was $750,000, while a two-bedroom unit averaged $933,000.
The TDSR framework, along with the other property cooling measures, has also shifted interest to the non-central region, given the lower price quantum, said Nicholas Mak, executive director, research and consultancy at SLP International.
The SPRI for Non-Central Region (excluding small units) rose one per cent, following a 0.4 per cent gain in July.
Conversely, the SPRI for Central Region (excluding small units) slipped 1.1 per cent, reversing a 0.4 per cent gain in July. Central Region is defined as districts 1-4 (including the financial district and Sentosa Cove) and the traditional prime districts 9,10 and 11.
The Overall SRPI was up 0.1 per cent in August, after gaining 0.4 per cent in July.
It is worth noting that overall prices have stayed relatively flat despite a sharp reduction in transaction volumes, said Lee Lay Keng, head of Singapore Research at DTZ.
Based on URA caveats, resale transactions of non-landed private homes fell 27 per cent month-on-month to 388 units in August from 529 units in July. This was the second-lowest monthly resale transaction volume since the beginning of the year; the lowest was in February, after the higher Additional Buyer's Stamp Duties (ABSD) and tighter financing restrictions were introduced.
"Despite the lower transaction volume, resale prices have generally held up as individual sellers in the secondary market have limited incentive to sell their properties unless they receive a premium as their replacement cost is now higher in lieu of the higher ABSD, especially if they are multiple property owners," said Ms Lee.
Moving forward, Chesterton Singapore's Mr Han said he expects prices in the Central area to ease further, although this will likely be compensated by a slight increase in prices in the suburban areas.
Regulators
01-10-13, 17:02
Coz that highest price is out of the world for jurong even if it is an MM.
why does people keep on mentioning the sensational high prices, instead of average price?
thomastansb
01-10-13, 17:10
Even average at 1.5k psf, it is still extremely high for OCR. Own stay, it is okay. Because you probably like that area or whatever reason you have. But invest? Seriously, more than 1.7k psf? :doh:
why does people keep on mentioning the sensational high prices, instead of average price?
when did R33 ever mentioned that JG is in a prime district or even mentioned that JLD is a prime district?
Ths is a common traits of headless trolls. Create something that is non existence and they will start to feed on each other.
astroboy8681
02-10-13, 00:40
I guess this is what happen when a man have too much guts.
They simply lose their ability to think like a civilize human being.
There is no need for you to reply. Just read my signature the next time you are bored.
few more flaws i noticed in this reply
- where sore thumb used to address me as a small boy, in less than a month i'm a man... exhibits your inconsistency and a tinge of cowardice :)
- lose ability to think .. being. such a queer, contradicts your own belief and now admit JLD is after all not a prime district... can you BE more aWARE of your own failings?
- no need to reply. you have to get this right really cos if you can even consider this a reply? i'm taking a dig, running you down, disparaging your mostly conceited thoughts and dreams... get the drift?
you are one "fine" lad i attest :)
astroboy8681
02-10-13, 00:51
when did R33 ever mentioned that JG is in a prime district or even mentioned that JLD is a prime district?
uncle? old man? hopeless? which is more appropriate?
no disrespect but you ain't see that sore thumb's table topping charts (top what i'm not sure)? Jurong mega transformation stories? JLD infrastructure visions? Government board relocation? etc etc...
conjectural assumptions, no? and sore thumb doesn't even step up for you/his belief...
period, jurong was, is, will never be prime... least we finally agree on something
astroboy8681
02-10-13, 00:58
Ths is a common traits of headless trolls. Create something that is non existence and they will start to feed on each other.
hahaha rather you are the perfect epitome of a constricted individual with no friends, no life, no less of a burden you already are on your minuscule brain...
live your J gate dream while we live ours...
fact : you still get shot down in every thread you start or poke your long nose in and that might just be what you desired, isn't it...
few more flaws i noticed in this reply
- where sore thumb used to address me as a small boy, in less than a month i'm a man... exhibits your inconsistency and a tinge of cowardice :)
- lose ability to think .. being. such a queer, contradicts your own belief and now admit JLD is after all not a prime district... can you BE more aWARE of your own failings?
- no need to reply. you have to get this right really cos if you can even consider this a reply? i'm taking a dig, running you down, disparaging your mostly conceited thoughts and dreams... get the drift?
you are one "fine" lad i attest :)
the term for that is Man Child. A body of a man, a brain of a child.
Even average at 1.5k psf, it is still extremely high for OCR. Own stay, it is okay. Because you probably like that area or whatever reason you have. But invest? Seriously, more than 1.7k psf? :doh:
That is what people have been trying to point out.
And now when Bishan and Thomson is selling at the same or lower average price, many who bought Jurong is now sleepless and banging their heads on keyboard every waking hour!
Does the Jurong MM at average $15xx psf and highest $1770 psf represents the peak of the market ?
Ask ourselves, now that OCR prices has gone up so much and CCR is already down more than 5%, how much more upside can we see in OCR ?
It will reach a price equilibrium and then people will start to sell OCRs at $1,5xx-$1,6xx and try to move into RCR. But for those who cannot sell because of SSD, dont know what so do...
But with every cycle, sure got people got caught. The way to go is to learn the lesson and try to get out with lowest damage.
Like what some people who send letters to ST says, its better to cut losses then to sit on a property for 10 years!
DKSG
uncle? old man? hopeless? which is more appropriate?
no disrespect but you ain't see that sore thumb's table topping charts (top what i'm not sure)? Jurong mega transformation stories? JLD infrastructure visions? Government board relocation? etc etc...
conjectural assumptions, no? and sore thumb doesn't even step up for you/his belief...
period, jurong was, is, will never be prime... least we finally agree on something
now making fun of names?
please dont falsely accuse people anyhow. R33 have never stated that JLD will ever be prime.
You may claim u r too busy to look through the entire threads, but rest assured, any such extrapolation/conjecture that JLD is prime/JLD is next prime is entirely largely made up by you.
i understand if people are too proud to admit their mistakes, only human.
in your very own words "don't follow the herd mentality of chasing after PRIME district"
you just shot yourself in the foot again, acknowledging J gaga is not in PRIME district.... was never a PRIME district, will never be PRIME district
was sho sho busy yesterday only came back just and witness "sore thumb" slipped on banana skin, yet again :)
hmmm caught lying thru your teeth, man up will ya :)
this is what R33 posted. links included.
http://forums.condosingapore.com/showpost.php?p=413206&postcount=9
In Orchard, for similar size apartment (500sqft) near MRT and mega shopping mall, it is already going at >$3000psf. Even in mount sophia area, near little india and KTV clubs, new launch are already $2500psf.
At the moment, most people only think of 1 core center for Singapore, but very soon; thanks to government's foresight and effort to decentralized Singapore commercial activities, there will be a sub central region in the west, where everything within 10km radius from it will be gravitate towards it.
But CCR property owners dont need to worry, JLD property will never be able to match $3000psf level.
http://forums.condosingapore.com/showpost.php?p=413207&postcount=10
I think you are mistaken, the vision of Jurong Lake District was never to become a highend residential district like D9 or D10. The vision for JLD is to be a leading model for Singapore in developing a mixed-used urban smart city.
shame on you Astroboy.
astroboy8681
03-10-13, 11:26
this is what R33 posted. links included.
http://forums.condosingapore.com/showpost.php?p=413206&postcount=9
http://forums.condosingapore.com/showpost.php?p=413207&postcount=10
shame on you Astroboy.
clearly you are the one mistaken and should be feeling ashamed right, no?
your definition of PRIME refers only to high-end residential projects??
"leading model for Singapore in developing a mixed-used urban smart city" in sore thumb's own words isn't PRIME??
Singapore land area of 700+ sq km can only accommodate one PRIME area, is that's what you are driving at?? orchard not PRIME?? Marina One not PRIME?? Stamford area not PRIME?? you getting senile or what??
Ask him to post on this thread his intention/impression is JLD was never meant to be PRIME and i will withdraw all my words....
seriously, cannot comprehend your interpretation skills... duh
astroboy8681
03-10-13, 11:57
http://forums.condosingapore.com/showthread.php?t=18201&page=169
You dont know about who you talking to, so please stop embarrassing yourself by making up stories about others and then feed on it like a headless troll.
Since 2008, J Gateway is also the only and most prime residential project has has been launched within Jurong Gateway. So what nonsense are you talking about?
in his own words, soleil novena is PRIME, AMK Centro is PRIME, Katong Regncy Paya Lebar is PRIME...
take a read for yourself, period... for one who can't accept J Gate factor in future pricing. Lest not even better, only bodes well for other MORE PRIME area :)
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