Residential rents seen rising further

[mr funny]

Published March 27, 2008

Residential rents seen rising further

En bloc sales and population increase caused by influx of foreigners will continue to fuel demand, writes LEONARD TAY


RESIDENTIAL rents bottomed out in 2004, recovering until 2007 when they staged an extraordinary rise, surging by more than 40 per cent within the year. This was the highest rate of increase in Urban Redevelopment Authority's private residential rental index since the index started in 1990.

And 2008 is likely to see continued strength in rentals, although growing at a more modest pace of 5-10 per cent.

Rents rose a negligible 0.2 per cent in 2004, and then a stronger 3.1 per cent in 2005, according to the URA private residential rental index. But as the residential sector recovered strongly from 2006 onwards, rental values rose more steeply.

The non-landed residential segment, which forms the bulk of the leasing market, chalked up rental growth of 15 per cent in 2006 before sky-rocketing 43.1 per cent in 2007.

A key reason for the supernormal growth in rents was the population increase as a result of immigration. Singapore's total population rose from 4,401,400 in 2006 to 4,588,600 in 2007, an addition of 187,200, of which Singapore residents made up 57,200 while foreigners constituted 130,000. This is a 14.8 per cent rise year-on-year and is the largest increase in the number of foreigners seen in over seven years. The foreign population refers to professionals, workers, students and their family members. This is the first time the total has crossed the one-million mark. The increase in 2006 was 9.7 per cent.

Main attractions

The positive run in the economy, growth prospects for the country and an attractive living environment brought many here, leading to the surge in demand for housing accommodation. The foreigners chose Singapore because of the job opportunities here and its connectivity to other major cities in Asia. Generally, they formed the bulk of the tenant pool and the prime districts (Orchard, Holland and Bukit Timah areas) were their favourite locations. However, due to the recent escalating rents, more expatriates have opted to move out of the prime districts for cheaper accommodation elsewhere. Some have even gone ahead to buy their own homes instead of renting.

The swelling demand was further fuelled by the number of residential projects that were sold on the collective sale market. A number of displaced home owners have rented in the interim while waiting for their new replacement homes to be completed.

While rents have increased islandwide, some regions are ahead of the pack. Rents in the Core Central Region (districts 9, 10, 11, Downtown Core and Sentosa) lead the market with a median rent of $3.86 per sq ft per month, going by URA's median rent numbers at end-2007. This is followed by the Rest of Central Region with a median rent of $2.74 psf per month and the areas Outside of Central Region with a median rent of $2.01 psf per month.

Using CBRE Research's basket of properties for the luxury, prime and island-wide segments of the leasing market, average rents have reached even higher levels. The average rent for luxury residences ended 2007 at $6.10 psf per month, having risen 36 per cent during the year. Properties in this luxury class include the top 10 to 15 completed condominiums located in the prestigious areas around Orchard Road.

Average rents for prime residential properties were $4.50 psf per month, having increased by 55 per cent in 2007, while islandwide rents were $2.65 psf per month, after rising 33 per cent in the same period.

As rentals at prime and popular locations become more expensive, both local and foreign residents have been moving further out; first to the city fringe and eventually along the east-west axis of the MRT lines to the suburban areas. A comparison of non-landed median rents from the URA's Realis system in December 2006 and December 2007 shows that the most significant increases have not been restricted to the central areas, but have been seen in the eastern and western parts of the island.

It should be noted that although districts 9 and 10 remain the most popular among expatriates, these districts have a range of old and new residences, leading to a relatively lower median rent compared with those in district 4. The residential landscape in district 4 (Telok Blangah/Harbourfront) is generally more homogenous and comprises newer developments that can fetch a premium.

Outlook for 2008

The leasing market is expected to remain firm in 2008 and rents will continue to rise, albeit at a more moderate pace in line with the less aggressive growth projected for the economy. The same phenomenon experienced in 2007 will continue into 2008 as fringe and suburban areas become more sought after by occupiers who find the higher rents in the prime central areas prohibitive. The spillover from the central area would cause rents to rise in other parts of the island and lead to overall growth in the leasing market.

At the same time, as Singapore continues to attract the well-heeled from around the world, rents for luxury and city living condominiums in the popular areas around Orchard Road and the CBD will continue to move upwards. Average residential rents are expected to increase by about 5-10 per cent this year.

Leonard Tay is a director of CBRE Research

[mr funny]

http://www.businesstimes.com.sg/mnt/media/image/launched/2008-03-27/BT_IMAGES_SUPPRENT.jpg

[Fast and Furious]

Within a span of one hour we have so many ppl reporting correction for property and rosy outlook.
It is schizophrenic here in this forum.

[Unregistered]

Within a span of one hour we have so many ppl reporting correction for property and rosy outlook.
It is schizophrenic here in this forum.

This is the last attempt this year to promote rosy outlook for property . from next week onwards prices going to drop !!!!

[Unregistered]

This is the last attempt this year to promote rosy outlook for property . from next week onwards prices going to drop !!!!
Record breaking land sale price this month in westcost,Yishun and Serangoon.Property price in Singapore will be up,up,Up.Cheong Ah ! Huat Ah$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

[Unregistered]

Record breaking land sale price this month in westcost,Yishun and Serangoon.Property price in Singapore will be up,up,Up.Cheong Ah ! Huat Ah$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$March 27, 2008

Fund tops Serangoon site tender with $801m bid

Located above MRT station, it will be used for a mall and new bus interchange

By Joyce Teo, Property Correspondent

Huat Ah $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$Cheong Ah$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

[typical singapore student]

Within a span of one hour we have so many ppl reporting correction for property and rosy outlook.
It is schizophrenic here in this forum.


That's what makes this forum so special. It has no agenda at all and welcomes all points of view.

Would you rather be spoonfed all good news? Or would you rather use your own brain to justify your thoughts and actions?

[Unregistered]

That's what makes this forum so special. It has no agenda at all and welcomes all points of view.

Would you rather be spoonfed all good news? Or would you rather use your own brain to justify your thoughts and actions?
Kwek leng beng used to spooned people with good news what the so called " 10yrs life cycle". Now where is he??? quiet like an owl. LOL

[Unregistered]

That's what makes this forum so special. It has no agenda at all and welcomes all points of view.

Would you rather be spoonfed all good news? Or would you rather use your own brain to justify your thoughts and actions?SINGAPORE : Billion Rise - a company believed to be linked to Hong Kong property giant Cheung Kong Holdings - has put in the top bid of S$110.4 million for a residential site at West Coast Crescent.

This works out to S$305 per square foot per plot ratio for the 99-year leasehold parcel.

Analysts expect a break-even price of between S$680 and S$720 per square foot for a new condominium on the site. The units are expected to be marketed at around S$800 per square foot.

The next highest offer of S$108.9 million came from Tian Hock Properties, and the lowest bid was S$50 million from Scantech Development.

All in, the Urban Redevelopment Authority received 12 offers for the land parcel.

Consultant CB Richard Ellis said the strong response signals developers' confidence in the suburban segment despite the current lukewarm response to new projects.

Consultant Knight Frank expects the new condominium to yield about 300 units.

It believes the high level of interest for the site is because it is close to schools and has a good view of Clementi Park, West Coast Park and the sea.

The site spans 12,000 square metres and has a maximum permissible gross floor area of 33,600 square metres. This means that the proposed condominium could be built up to about 36 storeys.

The winner of the award is expected to be announced after the bids have been reviewed. - CNA/ms


toaler
View Public Profile
Send a private message to toaler
Find More Posts by toaler

[Unregistered]

That's what makes this forum so special. It has no agenda at all and welcomes all points of view.

Would you rather be spoonfed all good news? Or would you rather use your own brain to justify your thoughts and actions?
Developer like Billion Rise ,MCL etc had invested million of dollar become topbid for the residential land site in singapore.You mean these million dollars investments are to spooned people with good news.With these high land cost bought by developers. The property price will definitely be going to up again.Huat Ah$$$$$$$$$$$$$$$$$$$$$$$Cheong AH$$$$$$$$$$$$$$$$$$$$$

[The Straits Times]

http://www.straitstimes.com/STI/STIMEDIA/common/mast_home.gif
Yishun condo site draws record bid of $213.5M
Fiona Chan
The Straits Times
Wednesday, 26 March 2008

A Yishun condominium site drew a higher-than-expected top bid when its tender closed yesterday, belying expectations of a property market slide.

Developer MCL Land offered $213.5 million for the 99-year leasehold plot, which works out to about $350 per sq ft per plot ratio (psf ppr) - believed to be a new benchmark for Yishun.

Property consultants said this could translate into the finished project selling at record prices for the area, even as home buyers are now holding out for lower prices in a subdued market.

Mr Nicholas Mak, director of research and consultancy at Knight Frank, estimated that the end units for the Yishun project could be priced from $830 psf up to almost $900 psf.

This would be almost double what the 99-year leasehold Orchid Park Condo down the road is fetching. Four units at the 14-year-old development have been sold there this year at an average price of $460 psf.

MCL Land's bid pipped four others and came in almost 70% higher than the next bid, from Peak Green, at $127 million, or $208 psf ppr.

Frasers Centrepoint, Sim Lian and Hong Kong's Cheung Kong also tabled offers ranging from $57.7 million to $109.7 million, or $95 to $180 psf ppr - which some consultants said were 'unrealistically low' bids. They had predicted bids of between $200 and $300 psf ppr.

But Mr Li Hiaw Ho, executive director of CBRE Research, said the response was 'fairly robust' and signalled 'developers' confidence in the suburban segment despite the current lukewarm response to new projects'.

'Should the United States enter a mild recession and the sub-prime problems clear up, sentiment for suburban homes should improve after June, bringing demand and upward price momentum back to the market.'

Experts described MCL Land's offer as 'extremely bullish' and suggested that the developer may be short on land bank in the mass market segment.

MCL Land said in its latest financial results that it bought some sites last year, including Holland Hill Mansions and Dynasty Court Garden 1 in Sixth Avenue. Its land bank can now yield 780 units with a total gross floor area of 1.4 million sqft.

The Yishun site is at the corner of Yishun Avenues 1 and 2, and is 10 minutes' walk from Khatib MRT Station. It is next to Yishun Stadium and overlooks Lower Seletar Reservoir.

'The site is good in that frontage to the reservoir is fantastic,' said Mr Ku Swee Yong, director of marketing and business development at Savills Singapore. 'I agree you should pay a premium for this site, but this seems to be a very significant premium.'

Separately, HDB yesterday put two more sites up for sale through its reserve list system.

One is a 182,986 sq ft plot at Jurong West Street 42 for executive condos, while the other is a 244,341 sq ft condo site at Chestnut Avenue in Bukit Panjang.


High Bid = High Home Prices?

Property consultants said the higher-than-expected offer by MCL Land could translate into the finished project selling at record prices for Yishun, even as home buyers are now holding out for lower prices in a subdued market.

[The Straits Times]

http://www.straitstimes.com/STI/STIMEDIA/common/mast_home.gif
Fund tops Serangoon site tender with $801M bid
Joyce Teo
The Straits Times
Thursday, 27 March 2008

The sleepy Serangoon area received a huge vote of confidence yesterday when a fund bid a sky-high $800.9 million for a land site, which will be used for a mall and a new bus interchange.

Six hopefuls lined up for the 99-year leasehold plot above Serangoon MRT station with four bidding over $660 million - well above the figure some people in the property industry thought the plot would attract.

The $800.9 million bid came from Pramerica Real Estate Investors (Asia) but was submitted under the name Gold Ridge. It reflects a price of $850 psf of gross floor area.

This was 10% above the second bid of $727 million from Serangoon Community Developments. Another bid came in at $401 million and one was a distant $215 million.

The site - launched by the Land Transport Authority - is destined to be a hub with Serangoon MRT serving as a junction station for the new Circle Line. Any development must include a new bus interchange integrated with the enlarged North-East and Circle Line stations.

The strategic location also offers enormous retail opportunities, say property experts.

'Serangoon Central is not a heavy residential area but there are no major malls within a 3km to 5km radius,' said Mr Danny Yeo, Knight Frank's deputy managing director.

'A mall can be a regional centre. The only tricky situation is that there can only be slightly over 200 carpark lots.'

Pramerica intends to build a full retail centre. It manages the Asian Retail Mall Fund I and II, which own several malls here, including Liang Court in River Valley, White Sands in Pasir Ris and Century Square in Tampines.

The Serangoon mall could have a net lettable area of around 600,000 sq ft, said CBRE Research executive director Li Hiaw Ho.

That would make it of similar size to Parkway Parade in Marine Parade and IMM in Jurong.

The plot is designated a white site, meaning it can be used for different functions, such as residential or commercial, but a full retail mall would bring the highest profit margin, said Savills Residential director Ku Swee Yong - and the highest risk in terms of cash flow.

The site has a gross floor area of 87,527 sqm. Consultants said a mall could probably bring average gross rent of up to $14 psf.

Assuming rent of $12 psf to $13 psf, the developers could expect a net income yield of about 5.5% on a stabilised basis, said Mr Li.

Those who placed the lower bids were probably looking at a residential component, which could eventually sell for $800 psf to $900 psf, consultants said.

While the residential space would help with cash flow, proceeds from apartment sales should not be used to fund the retail mall, said an industry expert.

This is to avoid paying heavy taxes when the developer eventually sells the mall.

Meanwhile, the Urban Redevelopment Authority made available two 99-year leasehold sites yesterday. Interested developers can apply to have these reserve list sites put up for tender.

One is a 0.55ha plot at the junction of Clemenceau Avenue and Havelock Road, which is designated for a hotel of up to six storeys.

Another is a 3.07ha residential plot in Upper Changi Road North.

Mr Nicholas Mak, Knight Frank's director of research and consultancy, said the first site could accommodate a three- to four-star hotel with up to 270 rooms. If it is put up for tender, its land price is estimated to be $75 million to $81 million, or $600 psf to $650 psf of gross floor area.

The second site could have up to 400 condo units and fetch between $83 million and $111 million, with new units commanding $650 psf to $720 psf.

[Unregistered]

Record breaking land sale price this month in westcost,Yishun and Serangoon.Property price in Singapore will be up,up,Up.Cheong Ah ! Huat Ah$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
Strong rental will provide good support to the market.
Good!

[Unregistered]

[QUOTE=Unregistered]SINGAPORE : Billion Rise - a company believed to be linked to Hong Kong property giant Cheung Kong Holdings - has put in the top bid of S$110.4 million for a residential site at West Coast Crescent.

This works out to S$305 per square foot per plot ratio for the 99-year leasehold parcel.

Analysts expect a break-even price of between S$680 and S$720 per square foot for a new condominium on the site. The units are expected to be marketed at around S$800 per square foot.

If you guys are not aware, HK Property Giant Cheung Kong Holdings is actually part of LKS's group of companies. These sharp, well informed Hongkoners just don't close one eye and buy. They know West Coast area is another gem waiting to be harvest. Billion Rise will ramp up the prices for WC/PP area, in 2-3 years time, you will see psf going up like no tomorrow. HUAT AH!!!!

[Unregistered]

[QUOTE=Unregistered]SINGAPORE : Billion Rise - a company believed to be linked to Hong Kong property giant Cheung Kong Holdings - has put in the top bid of S$110.4 million for a residential site at West Coast Crescent.

This works out to S$305 per square foot per plot ratio for the 99-year leasehold parcel.

Analysts expect a break-even price of between S$680 and S$720 per square foot for a new condominium on the site. The units are expected to be marketed at around S$800 per square foot.

If you guys are not aware, HK Property Giant Cheung Kong Holdings is actually part of LKS's group of companies. These sharp, well informed Hongkoners just don't close one eye and buy. They know West Coast area is another gem waiting to be harvest. Billion Rise will ramp up the prices for WC/PP area, in 2-3 years time, you will see psf going up like no tomorrow. HUAT AH!!!!

Heard the team deciding on the bidding price is in serious trouble because the bidding price is way too high (75% higher than the second highest bid) which meant their knowledge of the local market and other property players are really limited!!!!

[Unregistered]

[QUOTE=Unregistered]SINGAPORE : Billion Rise - a company believed to be linked to Hong Kong property giant Cheung Kong Holdings - has put in the top bid of S$110.4 million for a residential site at West Coast Crescent.

This works out to S$305 per square foot per plot ratio for the 99-year leasehold parcel.

Analysts expect a break-even price of between S$680 and S$720 per square foot for a new condominium on the site. The units are expected to be marketed at around S$800 per square foot.

If you guys are not aware, HK Property Giant Cheung Kong Holdings is actually part of LKS's group of companies. These sharp, well informed Hongkoners just don't close one eye and buy. They know West Coast area is another gem waiting to be harvest. Billion Rise will ramp up the prices for WC/PP area, in 2-3 years time, you will see psf going up like no tomorrow. HUAT AH!!!!


cheung kong ****ed up their costa del sol and thomson 800. they almost ****ed up their cairnhill crest also. u shouldn't take hint from cheung kong, because they have so much money, a wrong bet here and there doesn't matter to them.

[Unregistered]

[QUOTE=Unregistered]

Heard the team deciding on the bidding price is in serious trouble because the bidding price is way too high (75% higher than the second highest bid) which meant their knowledge of the local market and other property players are really limited!!!!
... but most importantly, huat ah!

[Unregistered]

[QUOTE=Unregistered]


cheung kong ****ed up their costa del sol and thomson 800. they almost ****ed up their cairnhill crest also. u shouldn't take hint from cheung kong, because they have so much money, a wrong bet here and there doesn't matter to them.
... but most importantly, huat ah!

[Unregistered]

cheung kong ****ed up their costa del sol and thomson 800. they almost ****ed up their cairnhill crest also. u shouldn't take hint from cheung kong, because they have so much money, a wrong bet here and there doesn't matter to them.


... but most importantly, huat ah!
I tell you all. This time swee liao lah.

[Unregistered]

Strong rental will provide good support to the market.
Good!
[/size='5']Chinese shares close 5.42% lower, steepest plunge in two months[/size]
Posted: 27 March 2008 1535 hrs

SHANGHAI: Chinese share prices on Thursday plunged 5.42 percent, the sharpest percentage decline in two months, amid fears about the impact of massive amounts of shares released into the market, dealers said.

The benchmark Shanghai Composite Index, which covers A and B shares, closed down 195.36 points at 3,411.49 on turnover of 76.9 billion yuan (10.9 billion dollars).

The Shanghai A-share Index was down 205.38 points or 5.43 percent at 3,578.92 on turnover of 76.7 billion yuan. The Shenzhen A-share Index lost 51.53 points or 4.25 percent to 1,161.67 on turnover of 34.9 billion yuan.

[Unregistered]

Strong rental will provide good support to the market.
Good!
Chinese shares close 5.42% lower, steepest plunge in two months
Posted: 27 March 2008 1535 hrs

SHANGHAI: Chinese share prices on Thursday plunged 5.42 percent, the sharpest percentage decline in two months, amid fears about the impact of massive amounts of shares released into the market, dealers said.

The benchmark Shanghai Composite Index, which covers A and B shares, closed down 195.36 points at 3,411.49 on turnover of 76.9 billion yuan (10.9 billion dollars).

The Shanghai A-share Index was down 205.38 points or 5.43 percent at 3,578.92 on turnover of 76.7 billion yuan. The Shenzhen A-share Index lost 51.53 points or 4.25 percent to 1,161.67 on turnover of 34.9 billion yuan.

[Unregistered]

Chinese shares close 5.42% lower, steepest plunge in two months
Posted: 27 March 2008 1535 hrs

SHANGHAI: Chinese share prices on Thursday plunged 5.42 percent, the sharpest percentage decline in two months, amid fears about the impact of massive amounts of shares released into the market, dealers said.

The benchmark Shanghai Composite Index, which covers A and B shares, closed down 195.36 points at 3,411.49 on turnover of 76.9 billion yuan (10.9 billion dollars).

The Shanghai A-share Index was down 205.38 points or 5.43 percent at 3,578.92 on turnover of 76.7 billion yuan. The Shenzhen A-share Index lost 51.53 points or 4.25 percent to 1,161.67 on turnover of 34.9 billion yuan.

Oh China losing steam....rents will come down for sure.

[Unregistered]

Oh China losing steam....rents will come down for sure.
Oh China went up the last few days....rents will continue to go up for sure.
Oh HongKong went up the last few days....rents will continue to go up for sure.

[Unregistered]

[QUOTE=Unregistered]

Heard the team deciding on the bidding price is in serious trouble because the bidding price is way too high (75% higher than the second highest bid) which meant their knowledge of the local market and other property players are really limited!!!!

HKD pegged to USD and LKS's compay despearte to park more cash in other country ASAP to minimize the losses. Anyone can make serious mistake when you are in desperate situation. Don't worry for them though, they have the muscles to hold for a very long time.

[Unregistered]

[QUOTE=Unregistered]

HKD pegged to USD and LKS's compay despearte to park more cash in other country ASAP to minimize the losses. Anyone can make serious mistake when you are in desperate situation. Don't worry for them though, they have the muscles to hold for a very long time.
Ask him to park in Singapore lah. We are getting stronger by the days and have a lot of parking lots for him.

[Unregistered]

[QUOTE=Unregistered]
Ask him to park in Singapore lah. We are getting stronger by the days and have a lot of parking lots for him.

We can specially design very spacious parking lots for all his limousines. With our mio$ ministers' "can do" attitude, everything also can.

[Unregistered]

Merrill, UBS to Post Quarterly Loss, Oppenheimer's Whitney Says

By Alexis Xydias

March 27 (Bloomberg) -- Merrill Lynch & Co. and UBS AG will likely post a loss this quarter, strangled by increased writedowns from debt-related securities, according to Oppenheimer & Co. analyst Meredith Whitney.

Whitney increased her forecast for first-quarter asset writedowns for New York-based Merrill to $6 billion from $2 billion, prompting her to reduce her quarterly estimate for the bank to a loss of $3 per share, from a profit of $0.45 previously, she wrote in a report dated yesterday.

Zurich-based UBS will likely post a total write-off of $11 billion from collateralized debt obligations, leveraged loans and real-estate investments, Whitney wrote. The Swiss bank may report a first-quarter loss of $2.75 per share. She previously estimated a gain of $0.72 per share.

Citigroup Inc. tumbled the most in the Dow Jones Industrial Average and led financials to their biggest retreat in almost two weeks after Whitney said the largest U.S. bank's quarterly loss will be four times bigger than previously forecast.

[Unregistered]

Merrill, UBS to Post Quarterly Loss, Oppenheimer's Whitney Says

By Alexis Xydias

March 27 (Bloomberg) -- Merrill Lynch & Co. and UBS AG will likely post a loss this quarter, strangled by increased writedowns from debt-related securities, according to Oppenheimer & Co. analyst Meredith Whitney.

Whitney increased her forecast for first-quarter asset writedowns for New York-based Merrill to $6 billion from $2 billion, prompting her to reduce her quarterly estimate for the bank to a loss of $3 per share, from a profit of $0.45 previously, she wrote in a report dated yesterday.

Zurich-based UBS will likely post a total write-off of $11 billion from collateralized debt obligations, leveraged loans and real-estate investments, Whitney wrote. The Swiss bank may report a first-quarter loss of $2.75 per share. She previously estimated a gain of $0.72 per share.

Citigroup Inc. tumbled the most in the Dow Jones Industrial Average and led financials to their biggest retreat in almost two weeks after Whitney said the largest U.S. bank's quarterly loss will be four times bigger than previously forecast.

MORE AND MORE PAIN. NO RECOVERY IN SIGHT. 97 SURE TO REPEAT. BIGGER SCALE THIS TIME DUE TO INFLATION AND SHORTAGE OF FOOD. CANNOT EAT MONEY OR BRICKS WHAT.......

[Unregistered]

MORE AND MORE PAIN. NO RECOVERY IN SIGHT. 97 SURE TO REPEAT. BIGGER SCALE THIS TIME DUE TO INFLATION AND SHORTAGE OF FOOD. CANNOT EAT MONEY OR BRICKS WHAT.......
But they still perform above our expectation. So it is still good.

[Mrs Ong ChoonFah, DTZ]

'We'll have to accept that Singapore will be open to international competition, with funds and high net-worth individuals coming in. People who cannot afford to live in these areas will have to find alternative locations,'

- Ong ChoonFah (Mrs)
.. Executive Director
.. DTZ

[Unregistered]

'We'll have to accept that Singapore will be open to international competition, with funds and high net-worth individuals coming in. People who cannot afford to live in these areas will have to find alternative locations,'

- Ong ChoonFah (Mrs)
.. Executive Director
.. DTZ

Unfortunately, sour grapes are still in denial and they keep whining everyday despite the fact that Singapore is going to be a mother of all hubs. Sour grapes cannot accept the fact that they are squeezed out of the condo market.

[Unregistered]

Chinese shares close 5.42% lower, steepest plunge in two months
Posted: 27 March 2008 1535 hrs

SHANGHAI: Chinese share prices on Thursday plunged 5.42 percent, the sharpest percentage decline in two months, amid fears about the impact of massive amounts of shares released into the market, dealers said.

The benchmark Shanghai Composite Index, which covers A and B shares, closed down 195.36 points at 3,411.49 on turnover of 76.9 billion yuan (10.9 billion dollars).

The Shanghai A-share Index was down 205.38 points or 5.43 percent at 3,578.92 on turnover of 76.7 billion yuan. The Shenzhen A-share Index lost 51.53 points or 4.25 percent to 1,161.67 on turnover of 34.9 billion yuan.



because China A share s too high, they sell China buy Spore S share, what are you waiting for now?
In May when STI cross 3600, whole property market will heat up again, then you will miss both boats again.
No risk no gain, do your own homework.
do not complain like sour grape or cry baby again, already told you so.

[Unregistered]

Paulson Says US Shouldn't Prop Up Housing Prices
By Reuters | 26 Mar 2008 | 10:26 AM ET

U.S. Treasury Secretary Henry Paulson said Wednesday policy-makers should not interfere with an "inevitable" drop in housing prices but should work to minimize the impact on the economy.

"A correction was inevitable and the sooner we work through it, with a minimum of disorder, the sooner we will see home values stabilize, more buyers return to the housing market, and
housing will again contribute to economic growth," he said on prepared remarks for delivery to the U.S. Chamber of Commerce.

The U.S. Treasury chief also said no one should conclude that broker-dealers and other big financial firms will get permanent access to new lending facilities made available by the Federal reserve to ease market stresses.

In wide-ranging comments on current conditions in credit and housing markets, Paulson tried to sound a note of reassurance about the future. He said capital markets remain flexible and resilient and that regulators and policy makers were "vigilant" about the risks the economy faces.

He said the Fed's actions in taking a series of moves to boost market liquidity and to offer broader access to its so-called discount window for loans were helpful but exceptional.

"At this time, the Federal Reserve's recent action should be viewed as a precedent only for unusual periods of turmoil," Paulson said.

He said policy makers were fully aware that it was a housing downturn that precipitated capital market turmoil and posed the biggest risk to the economy but made clear he felt it had room to run yet and should be allowed to do so.

Amid calls for action to minimize foreclosures, make more affordable mortgages available and reduce fraud, Paulson said it was vital to choose policies that "minimize the impact of -- but do not slow -- the housing correction."

Paulson said that only about 2 percent of U.S. home mortgages were in foreclosure but said that as many as 2 million foreclosure starts might occur this year. In addition, he said that 8.8 million households may now have negative home equity -- meaning their mortgages are higher than the house could be sold for -- and said that will rise.

Still, he said that if homeowners who are "underwater" on their mortgages walk away from them, they are no more than speculators and don't deserve special help.

"Washington can not create any new mortgage program to induce these speculators to continue to own these homes, unless someone else foots the bill," Paulson said.

He noted that a number of lawmakers have proposed initiatives to ease the strain on homeowners and welcomed their ideas but added "most are not yet ready for the starting
gate."

[Unregistered]

'We'll have to accept that Singapore will be open to international competition, with funds and high net-worth individuals coming in. People who cannot afford to live in these areas will have to find alternative locations,'

- Ong ChoonFah (Mrs)
.. Executive Director
.. DTZ
woooohahahhaaahahahahahahah sign of panic from property guys wooohahahaha.

[Unregistered]

'We'll have to accept that Singapore will be open to international competition, with funds and high net-worth individuals coming in. People who cannot afford to live in these areas will have to find alternative locations,'

- Ong ChoonFah (Mrs)
.. Executive Director
.. DTZ

ChoonFah who?

[Unregistered]

woooohahahhaaahahahahahahah sign of panic from property guys wooohahahaha.
woooohahahhaaahahahahahahah sign of panic from sour grapes who missed the boat wooohahahaha.

[AP]

http://www.ap.org/media/images/logo.gif
More Government Bailouts May Be on Way
Bear Stearns Bailout May Open Way to Other Rescue Plans, Including for Distressed Homeowners
Tom Raum
Writer
Associated Press
Washington, D.C., U.S.
Thursday, 27 March 2008, 4:51 am U.S. EDT

http://us.news2.yimg.com/us.yimg.com/p/fi/15/72/43.jpg
People leave Bear Stearns on Monday, March 24, 2008 in New York. - AP Photo

The economy is listing. So it must be time to bail. While there is little enthusiasm for government bailouts in general, voters are increasingly demanding immediate government relief as the economy ebbs.

The Fed-engineered bailout of investment banker Bear Stearns and other assistance to financial institutions has further raised expectations. To some, the $30 billion JP Morgan-Bear Stearns deal also raised a fairness issue: Should the government bail out a prestigious investment bank while doing little to address the hardships of Americans facing foreclosures on their homes, or caught in other troubled segments of the economy, such as laid-off factory workers?

Members of Congress, particularly Democrats, will press the issue when they return from their spring break next week. Bailout proposals for homeowners abound, including several measures to get lenders to rework home loans. There are also bills to increase federal regulation over the nation's financial system.

"The big thing about the Bear Stearns bailout -- if you want to call it that -- is that it kind of opens the doors for other types of bailouts like for homeowners and individuals," said federal budget expert Stanley Collender.

"If the Fed is thinking about the business community, the lending community and the credit markets, then members of Congress are tending to think about individuals," said Collender, with Qorvis Communications, a Washington consulting firm.

All three major presidential candidates gave what their campaigns billed as major speeches on the economy this week.

Democratic Sens. Hillary Rodham Clinton and Barack Obama both called for direct federal intervention to help burdened homeowners. Sen. John McCain, the certain GOP presidential nominee, has called for caution.

Clinton wants a $30 billion fund for states and communities to assist those at risk of foreclosure. Obama is pushing a a $10 billion relief package and a simplification of the tax code to allow more families to claim a mortgage income tax deduction.

McCain said that, while he would evaluate various rescue proposals put forth, it is "not the duty of government to bail out and reward those who act irresponsibly, whether they are big banks or small borrowers." He previously proposed cutting the corporate tax rate to 25 percent from 35 percent and making permanent the Bush administration's first-term tax cuts, cuts he initially opposed.

Budget hawks can only cringe at the raft of possible bailouts and expensive new federal programs that may be coming down the pike.

Controversy still swirls around some earlier big bailouts.

In the 1980s and 1990s, more than 1,000 savings and loan institutions failed, leading to a federal bailout totaling roughly $125 billion.

The 1998 collapse of hedge fund Long-Term Capital Management, amid the Asian financial crisis, rocked Wall Street and prompted the Federal Reserve to help arrange a $3.6 billion private bailout.

In 1975, President Ford first ignored pleas from a struggling New York City for help but later relented with a $7 billion loan package. President Clinton came to Mexico's aid in 1995 after a sharp devaluation of the peso, persuading countries and banks to lend the country $50 billion.

Congress bailed out what was then known as Lockheed Aircraft in 1971 and Chrysler in 1979 with loan guarantees. In 1984, the failing bank Continental Illinois was effectively taken over by the federal government.

After the Sept. 11, 2001, terror attacks, Congress quickly authorized $5 billion in cash to help shore up the airline industry and followed up with $10 billion in loan guarantees. It set up a compensation fund for victims of the attacks.

While complaints of unfairness can always be raised, government bailouts can generally be defended when the government's failure to act could have dire consequences on society or the nation's financial system, said William Galston, a former domestic policy adviser to President Clinton and now a senior fellow at Washington's Brookings Institution.

"Sometimes, you have to act in a very broad way, a way that's not very sensitive to the distinction between the innocent and the guilty, in order to bring about a broader public good. And then you sort it out later if you can," Galston said.

Even President Bush seems torn between not interfering with market forces and wanting to keep the financial crisis from deepening.

On March 14, he inveighed against government bailouts. "The temptation of Washington is to say that anything short of a massive government intervention in the housing market amounts to inaction. I strongly disagree with that sentiment," he told the Economic Club of New York. "I believe there ought to be action. But I'm deeply concerned about law and regulation that will make it harder for the markets to recover."

But, a week later, Bush applauded the series of dramatic government interventions undertaken by Fed Chairman Ben Bernanke and Treasury Secretary Henry Paulson, claiming they had "acted swiftly to promote stability in our financial markets at a crucial time." He even thanked Bernanke for "working over the weekend."

[Unregistered]

http://www.ap.org/media/images/logo.gif
More Government Bailouts May Be on Way
Bear Stearns Bailout May Open Way to Other Rescue Plans, Including for Distressed Homeowners
Tom Raum
Writer
Associated Press
Washington, D.C., U.S.
Thursday, 27 March 2008, 4:51 am U.S. EDT

http://us.news2.yimg.com/us.yimg.com/p/fi/15/72/43.jpg
People leave Bear Stearns on Monday, March 24, 2008 in New York. - AP Photo

The economy is listing. So it must be time to bail. While there is little enthusiasm for government bailouts in general, voters are increasingly demanding immediate government relief as the economy ebbs.

The Fed-engineered bailout of investment banker Bear Stearns and other assistance to financial institutions has further raised expectations. To some, the $30 billion JP Morgan-Bear Stearns deal also raised a fairness issue: Should the government bail out a prestigious investment bank while doing little to address the hardships of Americans facing foreclosures on their homes, or caught in other troubled segments of the economy, such as laid-off factory workers?

Members of Congress, particularly Democrats, will press the issue when they return from their spring break next week. Bailout proposals for homeowners abound, including several measures to get lenders to rework home loans. There are also bills to increase federal regulation over the nation's financial system.

"The big thing about the Bear Stearns bailout -- if you want to call it that -- is that it kind of opens the doors for other types of bailouts like for homeowners and individuals," said federal budget expert Stanley Collender.

"If the Fed is thinking about the business community, the lending community and the credit markets, then members of Congress are tending to think about individuals," said Collender, with Qorvis Communications, a Washington consulting firm.

All three major presidential candidates gave what their campaigns billed as major speeches on the economy this week.

Democratic Sens. Hillary Rodham Clinton and Barack Obama both called for direct federal intervention to help burdened homeowners. Sen. John McCain, the certain GOP presidential nominee, has called for caution.

Clinton wants a $30 billion fund for states and communities to assist those at risk of foreclosure. Obama is pushing a a $10 billion relief package and a simplification of the tax code to allow more families to claim a mortgage income tax deduction.

McCain said that, while he would evaluate various rescue proposals put forth, it is "not the duty of government to bail out and reward those who act irresponsibly, whether they are big banks or small borrowers." He previously proposed cutting the corporate tax rate to 25 percent from 35 percent and making permanent the Bush administration's first-term tax cuts, cuts he initially opposed.

Budget hawks can only cringe at the raft of possible bailouts and expensive new federal programs that may be coming down the pike.

Controversy still swirls around some earlier big bailouts.

In the 1980s and 1990s, more than 1,000 savings and loan institutions failed, leading to a federal bailout totaling roughly $125 billion.

The 1998 collapse of hedge fund Long-Term Capital Management, amid the Asian financial crisis, rocked Wall Street and prompted the Federal Reserve to help arrange a $3.6 billion private bailout.

In 1975, President Ford first ignored pleas from a struggling New York City for help but later relented with a $7 billion loan package. President Clinton came to Mexico's aid in 1995 after a sharp devaluation of the peso, persuading countries and banks to lend the country $50 billion.

Congress bailed out what was then known as Lockheed Aircraft in 1971 and Chrysler in 1979 with loan guarantees. In 1984, the failing bank Continental Illinois was effectively taken over by the federal government.

After the Sept. 11, 2001, terror attacks, Congress quickly authorized $5 billion in cash to help shore up the airline industry and followed up with $10 billion in loan guarantees. It set up a compensation fund for victims of the attacks.

While complaints of unfairness can always be raised, government bailouts can generally be defended when the government's failure to act could have dire consequences on society or the nation's financial system, said William Galston, a former domestic policy adviser to President Clinton and now a senior fellow at Washington's Brookings Institution.

"Sometimes, you have to act in a very broad way, a way that's not very sensitive to the distinction between the innocent and the guilty, in order to bring about a broader public good. And then you sort it out later if you can," Galston said.

Even President Bush seems torn between not interfering with market forces and wanting to keep the financial crisis from deepening.

On March 14, he inveighed against government bailouts. "The temptation of Washington is to say that anything short of a massive government intervention in the housing market amounts to inaction. I strongly disagree with that sentiment," he told the Economic Club of New York. "I believe there ought to be action. But I'm deeply concerned about law and regulation that will make it harder for the markets to recover."

But, a week later, Bush applauded the series of dramatic government interventions undertaken by Fed Chairman Ben Bernanke and Treasury Secretary Henry Paulson, claiming they had "acted swiftly to promote stability in our financial markets at a crucial time." He even thanked Bernanke for "working over the weekend."
OH SITUATION GETTING WORSE BY THE DAY. BAIL OUT TILL FED RUNS OUT OF CASH. TAX PAYERS PAY. INFLATION WILL KILL. SOON ALL DIE.

[Unregistered]

OH SITUATION GETTING WORSE BY THE DAY. BAIL OUT TILL FED RUNS OUT OF CASH. TAX PAYERS PAY. INFLATION WILL KILL. SOON ALL DIE.
Don't worry. They have enough money to do it.

They just need to bail out one or two, the rest will automatically increase their profits and the whole economy will go back on track. Money will come back again.

Soon you may die but not them.

[Unregistered]

Don't worry. They have enough money to do it.

They just need to bail out one or two, the rest will automatically increase their profits and the whole economy will go back on track. Money will come back again.

Soon you may die but not them.
lol moron thinks economy back on track by printing currency and bailing out.

[Unregistered]

lol moron thinks economy back on track by printing currency and bailing out.
Well, too bad for you sour grape. It has worked before and will work this time.

[Unregistered]

Don't worry. They have enough money to do it.

They just need to bail out one or two, the rest will automatically increase their profits and the whole economy will go back on track. Money will come back again.

Soon you may die but not them.


lol moron thinks economy back on track by printing currency and bailing out.

Huh? Bernanke is a moron?

Don't worry. The central bank has infinite capacity to print money.

The victim is the US Dollar.

But I guess a fall in the US Dollar is also good for their economy. Now I read in the papers that more people are buying American goods and going to USA for holiday.

[Unregistered]

Huh? Bernanke is a moron?

Don't worry. The central bank has infinite capacity to print money.

The victim is the US Dollar.

But I guess a fall in the US Dollar is also good for their economy. Now I read in the papers that more people are buying American goods and going to USA for holiday.



thing is not as simple as what you see in surface.
market will come back again, don't believe, wait.
Believe, take action.

[Unregistered]

Unfortunately, sour grapes are still in denial and they keep whining everyday despite the fact that Singapore is going to be a mother of all hubs. Sour grapes cannot accept the fact that they are squeezed out of the condo market.

Maybe can lah, the old old condos in Sembawang maybe can afford. Too bad, new one in Yishun are going for $800+psf soon. Now, still can sour grapes (still can eat though sour), very soon become rotten grapes.

[Unregistered]

Unfortunately, sour grapes are still in denial and they keep whining everyday despite the fact that Singapore is going to be a mother of all hubs. Sour grapes cannot accept the fact that they are squeezed out of the condo market.
yes,totally agree with your view.Sometime i really feel sad for all those sour grapes because one day they may be squeezed out of the HDB market as well.Especially some new HDB flats already sold at $600psf.

[Unregistered]

lol moron thinks economy back on track by printing currency and bailing out.But don't you know lot of moron is making million of dollar in this property boom.Farrer court alone already creat 618 nos of millionaire.

[Unregistered]

[QUOTE=Unregistered]


cheung kong ****ed up their costa del sol and thomson 800. they almost ****ed up their cairnhill crest also. u shouldn't take hint from cheung kong, because they have so much money, a wrong bet here and there doesn't matter to them.
For your infor cheung kong did not any how fucXXX.They had made money in all the projects.Huat Lah$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

[Unregistered]

yes,totally agree with your view.Sometime i really feel sad for all those sour grapes because one day they may be squeezed out of the HDB market as well.Especially some new HDB flats already sold at $600psf.

The spate of land sales and tender price does tell you that replacement costs for condo are going to get higher due to higher land cost & construction cost. Think the days of buying mass condo at $600 psf maybe a thing of the past. Sour grapes sob sob sob......

[Unregistered]

But don't you know lot of moron is making million of dollar in this property boom.Farrer court alone already creat 618 nos of millionaire.
Oh you not in the 618? Envying us?

[Unregistered]

once 2008 masterplan is out, we will have a glimpse of the future landscape of Singapore. 40-50 storeys HDB flats and condos, smaller units (500-900 sq. ft.), perhaps 60 year lease to bring down land cost/unit cost.

[Unregistered]

once 2008 masterplan is out, we will have a glimpse of the future landscape of Singapore. 40-50 storeys HDB flats and condos, smaller units (500-900 sq. ft.), perhaps 60 year lease to bring down land cost/unit cost.
dream on...no harm in dreaming. thats your privilege. no one can stop u from building 100 storey castles in the year.
why dont u prepare the master plan too. u can have it your way. no complaints then. hahahahahahaha

[Unregistered]

The spate of land sales and tender price does tell you that replacement costs for condo are going to get higher due to higher land cost & construction cost. Think the days of buying mass condo at $600 psf maybe a thing of the past. Sour grapes sob sob sob......
Oh yes even HDB would be 1000 psf. But who cares. People who earn can afford.

[Unregistered]

Oh yes even HDB would be 1000 psf. But who cares. People who earn can afford.

Sadly, the boom in property market in Sinagpore and HK are inflation-driven.
Unless you have better idea how to make your money grow 15% per year, putting money in property is still far better option than putting it in bank.

[Unregistered]

Economy Sputters With 0.6 Percent Growth
Thursday March 27, 9:18 am ET
By Jeannine Aversa, AP Economics Writer

Economy Nearly Sputtered Out at End of 2007, Probably Faring Worse Now


WASHINGTON (AP) -- The economy nearly sputtered out at the end of the year and is probably faring even worse now amid continuing housing, credit and financial crises.
The Commerce Department reported Thursday that gross domestic product increased at a feeble 0.6 percent annual rate in the October-to-December quarter. The reading -- unchanged from a previous estimate a month ago -- provided stark evidence of just how much the economy has weakened. In the prior quarter, the economy clocked in at a sizzling 4.9 percent growth rate.

The gross domestic product (GDP) measures the value of all goods and services produced in the United States and is the best barometer of the country's economic health.

Many economists say they believe growth in the current January-to-March quarter will be even weaker than the 0.6 percent figure of the previous quarter. A growing number also say the economy may actually be shrinking now. Under one rough rule, the economy needs to contract for six straight months to be considered in a recession. The government will release its estimate for first-quarter GDP in late April.

In another report, fewer people signed up for unemployment benefits last week, although that didn't change the broader picture of a deteriorating jobs market. The Labor Department said jobless claims fell by 9,000 to 366,000, a better showing than many economists were forecasting. Still, unemployment is expected to rise this year given all the problems clobbering the economy.

The newly released fourth-quarter GDP figure matched analysts' expectations.

Thursday's report underscored the damage to the economy from the collapse in the housing market, which has dragged down housing prices, pushed home foreclosures up to record highs and has led to a glut of unsold homes.

Against that backdrop, builders slashed spending on housing projects by a whopping 25.2 percent on an annualized basis in the fourth quarter, the biggest cut in 26 years.

To limit the damage from the crises, the Federal Reserve has taken a number of extraordinary actions. It has slashed a key interest rate over the last two months by the most in a quarter century. And to relieve turmoil on Wall Street, which intensified after the crash of the country's fifth-largest investment firm, Bear Stearns, the Fed has resorted to its greatest expansion of lending authority since the 1930s. Big securities firms will temporarily be allowed to go to the Fed directly for loans -- a privilege that had been afforded only to commercial banks.

Consumers, whose spending is indispensable to the economy's vitality, boosted buying at a 2.3 percent pace in the fourth quarter. That was better than the 1.9 percent growth rate previously estimated but still marked a slowing from the third quarter's 2.8 percent pace.

Businesses -- nervous about customers' waning appetite to buy given all the problems in the economy -- cut back sharply on their inventories of unsold goods. That shaved 1.79 percentage points off fourth-quarter GDP, the most in more than two years.

Spending by businesses on equipment and software, meanwhile, rose at a pace of 3.1 percent in the final quarter of last year. That was slightly less than previously estimated and marked a slowdown from the prior quarter's 6.2 percent growth rate.

Businesses profits also took a hit in the final quarter. A measure linked to the GDP report showed that after-tax profits fell 3.3 percent at the end of last year, after being flat in the prior quarter.

There was a bright spot in the mostly gloomy report, however. Sales of U.S. goods and services to other countries grew at a 6.5 percent pace. That was better than the 4.8 percent growth rate previously estimated, although it was down sharply from the prior quarter's blistering 19.1 percent growth rate.

U.S. exports have been helped by the sinking value of the U.S. dollar, which makes U.S. goods less expensive to foreign buyers. The U.S. dollar recently plunged to record lows against the euro and has fallen sharply against the Japanese yen.

The drooping dollar can aggravate inflation pressures.

An inflation measure linked to the GDP report showed that overall prices increased at a rate of 3.9 percent in the fourth quarter. That was not as high as previously estimated but marked a big pickup from the third quarter's 1.8 percent pace.

Another gauge showed that "core" prices -- excluding food and energy -- grew at a rate of 2.5 percent at the end of last year. That was down from a previous estimate of a 2.7 percent pace but was up from the prior quarter's 2 percent growth rate.

The new core inflation figure is above the Fed's comfort zone -- the upper bound of which is a 2 percent inflation rate.

Although the Fed's No. 1 job is trying to save the economy from a deep and prolonged recession, it is also keeping close tabs on inflation and soaring energy prices.

Oil prices are topping $105 a barrel. Gasoline prices have marched higher, too. High energy prices can spread inflation if lots of companies boost prices charged to customers for a wide range of goods and services. High energy prices also can be a drag on overall economic growth by crimping consumer spending.

The combination of slowing economic growth and rising inflation make the Fed's job more difficult. It also has raised fears the country may be headed for a bout of stagflation, a scenario the U.S. hasn't experienced since the 1970s. Fed Chairman Ben Bernanke, however, has said that's not the case.

[Unregistered]

yes,totally agree with your view.Sometime i really feel sad for all those sour grapes because one day they may be squeezed out of the HDB market as well.Especially some new HDB flats already sold at $600psf.


Yes, you are right -- HDB, new ones, not the resale HDB -- are going at private condo (not EC) prices -- at the Boon Keng Road.

Yet the buyers are subject to the $8,000 income ceiling. How can these people pay $600k to $700k +?

The smart ones better run for dear life: maybe HDB and IRAS are setting a trap to catch the tax evaders.....

[Unregistered]

Yes, you are right -- HDB, new ones, not the resale HDB -- are going at private condo (not EC) prices -- at the Boon Keng Road.

Yet the buyers are subject to the $8,000 income ceiling. How can these people pay $600k to $700k +?

The smart ones better run for dear life: maybe HDB and IRAS are setting a trap to catch the tax evaders.....
Why should the smart ones run for dear life?
The smart ones will buy condos.

[Unregistered]

Oh you not in the 618? Envying us?
I'm not in the 618 but I'm in the 66,660. Envying me?

[Unregistered]

[QUOTE=Unregistered]

Heard the team deciding on the bidding price is in serious trouble because the bidding price is way too high (75% higher than the second highest bid) which meant their knowledge of the local market and other property players are really limited!!!!

Dun think so. I think their bidding price is reasonable. The second offer is trying luck so we cannot compare with that offer. If they bid too low, they run the risk of rejected sale from URA, like the Jurong West land. Then it is as good as nothing. When no one is buying land , it is wise to go in when there is no competition. A wise developer will not dream to secure a land at unreasonable offer as our government is not desperate to sell.

[Unregistered]

SINGAPORE : Billion Rise - a company believed to be linked to Hong Kong property giant Cheung Kong Holdings - has put in the top bid of S$110.4 million for a residential site at West Coast Crescent.

This works out to S$305 per square foot per plot ratio for the 99-year leasehold parcel.

Analysts expect a break-even price of between S$680 and S$720 per square foot for a new condominium on the site. The units are expected to be marketed at around S$800 per square foot.

If you guys are not aware, HK Property Giant Cheung Kong Holdings is actually part of LKS's group of companies. These sharp, well informed Hongkoners just don't close one eye and buy. They know West Coast area is another gem waiting to be harvest. Billion Rise will ramp up the prices for WC/PP area, in 2-3 years time, you will see psf going up like no tomorrow. HUAT AH!!!!


Heard the team deciding on the bidding price is in serious trouble because the bidding price is way too high (75% higher than the second highest bid) which meant their knowledge of the local market and other property players are really limited!!!!

The second highest bid was submitted by Far East at $301.14 psf ppr.

Li Kashing's Cheung Kong group's winning bid of $305.36 psf ppr is only 1.4% above the second highest bid.

Not 75%.

http://www.businesstimes.com.sg//mnt/media/image/launched/2008-03-20/BT_IMAGES_WEST20.jpg

This shows that sour grapes are either:

1. Clueless about the property market; or
2. Extremely poor in mathematics; and
3. Prone to bullshit.

How could a sour grape have "Heard the team deciding on the bidding price is in serious trouble because the bidding price is way too high"?

In order to hear that the team is in "serious trouble", the person "hearing" it must be farely well-connected in property circles. How can sour grapes be well-connected in property circles?

If sour grapes are well-connected in property circles, then they won't be sour grapes in the first place. This is known as the SGP (Sour Grape Paradox).

In fact, Cheung Kong, even though based in Hong Kong, had demonstrated very sharp market acumen to bid only 1.4% above the next highest bid.

This is totally contradictory to sour grape's "wise" observations that "their knowledge of the local market and other property players are really limited!!!!"

[Unregistered]

Japan Inflation Rate Climbs to Decade High; Unemployment Rises

By Mayumi Otsuma and Toru Fujioka

March 28 (Bloomberg) -- Japan's consumer prices rose at the fastest pace in a decade and the unemployment rate increased for the first time in five months, putting pressure on households already strapped by falling wages.

Core prices, which exclude fruit, fish and vegetables, climbed 1 percent in February from a year earlier, the statistics bureau said today in Tokyo. The jobless rate unexpectedly climbed to 3.9 percent, the first increase since September, and job vacancies slid to a two-year low.

A worsening job market is the latest evidence of economic deterioration that may force the Bank of Japan to reverse its policy and cut interest rates even as prices surge. Economic and Fiscal Policy Minister Hiroko Ota said faster inflation caused by higher energy and food costs may hurt consumers, whose spending accounts for more than half of the economy.

``All of today's numbers show that the Japanese economy is already in a mild recession,'' said Hiroaki Muto, a senior economist at Sumitomo Mitsui Asset Management Co. in Tokyo. ``Naturally the policy board needs to discuss a rate cut.''

Household spending stalled last month, the statistics bureau said. Economists estimated a 2.4 percent increase. The ratio of jobs to available to each applicant slid to 0.97, the lowest since September 2005.

The yield on Japan's 10-year bond fell 2 basis points to 1.25 percent at 10:58 a.m. in Tokyo. The yen traded at 99.50 per dollar from 99.44 before the reports were published.

`Flexible' Policy

Three central bank policy makers -- acting Governor Masaaki Shirakawa, Deputy Governor Kiyohiko Nishimura and board member Miyako Suda -- have said since last week that the bank is ready to take ``flexible'' policy steps if needed.

Traders see a 53 percent chance the central bank will lower the key overnight lending rate from 0.5 percent by December, JPMorgan Chase & Co. calculations show.

Today's figures signal wages, which had the steepest drop in three years in 2007, are unlikely to pick up anytime soon as higher oil and raw-materials costs squeeze companies' profits.

Pasona Group Inc., a temp agency, this week cut its profit forecast 36 percent for the year ending May 31, citing weaker- than-expected demand for temporary workers as the economy slows.

``Companies can't afford to hire employees and raise wages even if they want to,'' said Takehiro Sato, chief Japan economist at Morgan Stanley in Tokyo. ``Profits are under pressure from oil, the surging yen, the U.S. slowdown and more reasons I can't even count.''

Production Slump

Reports next week will probably provide more evidence of the economy's deterioration.

Industrial production fell for a second month, economists expect the government to say on March 31. The Bank of Japan's Tankan survey, the nation's most closely watched gauge of business confidence, on April 1 is likely to show sentiment among large manufacturers fell to the lowest level in four years.

``A stalled job market and weakening consumer spending are evidence that Japan's economy is already in a recession,'' said Seiji Shiraishi, chief economist at HSBC Securities Japan Ltd. in Tokyo. ``The Bank of Japan will have to cut interest rates between April and June.''

BOJ policy maker Suda said yesterday that growth in the year starting April 1 will probably fall short of the bank's 2.1 percent projection made last October. The central bank will release its next forecasts on April 30.

Core consumer prices started rising in October after declining for eight months. They either hovered near zero or fell since March 1998, when an increase in the country's sales tax pushed gains to 1.8 percent.

Inflation May Wane

Some analysts say inflation may wane later this year as oil and commodities costs ease and consumer demand fails to pick up.

``With growth slowing and demand weakening in coming months, oil prices will probably fall and companies will continue to struggle to raise prices beyond oil and food,'' said Azusa Kato, an economist at BNP Paribas in Tokyo. ``Core-price inflation may slump to almost zero in the first quarter of 2009.''

Excluding energy as well as food, Japan's consumer prices fell 0.1 percent in February. By that measure, prices have failed to rise for more than nine years.

Parliament's decision on whether to extend a higher tax on gasoline may also affect inflation. The tax is set to expire on March 31 after the opposition Democratic Party of Japan refused to discuss a bill to extend it.

The tax may be renewed in a month or disappear indefinitely. An end to the levy would lower core prices by 0.4 percentage point and warrant a change in the inflation outlook, said Chiwoong Lee, an associate economist at Goldman Sachs Group Inc. in Tokyo.

[mr funny.]

Published March 28, 2008

Low point of crisis may be over, feels Temasek unit

Investors have reached the point of maximum fear, says Fullerton CEO


(SINGAPORE) Temasek Holdings' fund management unit says investors have passed 'the point of maximum fear' amid the global credit squeeze. Fullerton Fund Management sees the US Federal Reserve's decision to rescue Bear Stearns as a turning point in the crisis.

'The Fed coming in to facilitate JPMorgan Chase & Co's purchase of Bear Stearns is a watershed event, and most bottoms are found during watershed events,' Fullerton CEO Gerard Lee said in an interview here yesterday. 'From that perspective, we could have already crossed the point of maximum fear.'

The Fed stepped in with JPMorgan on March 14 to provide emergency funding to Bear Stearns in the biggest government bailout of a US securities firm. The move is now being probed by the Senate.

Before the announcement, Bear Stearns' clients withdrew US$17 billion in two days amid speculation that the firm was running short of cash.

Templeton Asset Management's Mark Mobius said he 'generally' agrees with Temasek's assessment that the markets have reached a bottom.

'If we haven't achieved it, we're damn close,' Mr Mobius, who oversees US$47 billion in emerging- market equities, said in a phone interview from Hong Kong yesterday.

'With the kind of liquidity that's pouring into the system, with the Fed, and now the European Central Bank and others putting more money into the system, we think stock prices are not going to remain down. We think there's a good chance of growth going forward.'

Some funds are already planning to buy shares in Asia, where stocks have tumbled this year even as economies in China and India continue to grow. The MSCI Asia Pacific Index trades at 14 times estimated earnings, after slumping 13 per cent the past six months as fallout from the US sub-prime crisis spread through Asia, making stocks in the benchmark 36 per cent cheaper than the five-year average.

Value Partners Group, Asia's second-largest hedge fund manager, is buying stocks in the region that were battered by the collapse of the US sub-prime mortgage market, chief investment officer Cheah Cheng Hye said this week. The Hong Kong-based asset manager aims to start a new fund in the second quarter to invest in Greater China property stocks, Mr Cheah said.

Funds such as Clariden Leu AG, which manages US$300 million, said the recovery from the US housing crisis may take 1-2 years.

'What we have seen in the last couple of weeks culminating in the rescue of Bear Stearns by the Fed and a further pump of liquidity in the market may somewhat signal an inflexion point in the crisis - but this bottoming-out phase, we reckon, will take a long time,' Michael Foo, head of Asian portfolio management at Clariden, said in an interview yesterday.

Fullerton, which oversees US$2.5 billion of third- party money, is still bullish on prospects in Asia, where it has most of its assets. It said the goal to manage US$3 billion excluding Temasek's funds by mid-year is achievable. Temasek manages a portfolio worth more than US$100 billion.

'The fundamental reasons for this secular growth are all in place,' Mr Lee said. 'The few of the big economies are found in Asia. I'm talking about China, India, Vietnam and South Korea. So Asia, being a destination for investment money from the developed world, will continue to grow.'

Fullerton's main customers are wealthy individuals in Japan, South Korea, Taiwan, Hong Kong and institutions in Singapore, where it became a separate unit of Temasek in 2003. It aims to expand in the US, Europe, Australia and the Middle East. -- Bloomberg

[Reuters]

http://l.yimg.com/us.yimg.com/i/us/nws/p/reuters_logo_94.png
Want to earn more? British professionals move abroad
Reuters
London, U.K.
Friday, 28 March 2008, Singapore Time

http://business.asiaone.com/a1media/business/01Jan08/images/20080122.165935_workers_350x175.jpg

British professionals could earn an average 40% more by relocating abroad, research shows.

The average professional expatriate earns 67,000 pounds (S$185,328), compared to a UK average of 47,000 pounds - 42.6% less, according to NatWest International.

Its 'wealth ranking survey', undertaken with the Centre of Future Studies think-tank, shows that the United Arab Emirates tops the charts, with professionals netting an average annual salary of 79,000 pounds.

Even Portugal, at the lower end, comes in with a respectable average annual wage of 58,000 pounds.

However, when the cost of living is taken into account Spain (with an average expat salary of 65,000 pounds) and Italy (76,000 pounds) jumped up the table.

Mr David Isley, head of personal banking at NatWest International, said: 'The wage packets of expats are very encouraging for people who are looking to move abroad.

'People who are willing to move abroad not only benefit from bigger earnings in countries such as Spain and Italy, but also have the advantage of a lower cost of living.' Overall, 68% of those surveyed found that the cost of living abroad to be lower than in the UK, which lead to 90% considering themselves financially better off.

Almost 70% also said they felt healthier living abroad.

Mr Isley said: 'Expats who have moved abroad appear to be wealthier, healthier and happier and all these factors have contributed to a better quality of life.

'It seems as if expats have not only found their pot of gold abroad, but are able to enjoy themselves and feel healthier for having made the move.'

The global survey also revealed the countries with the highest proportion of Britons working in certain occupations.

Canada had the most engineers, medical personnel, academics and teachers. IT professionals seemed to flock to Sweden; economists and accountants to Singapore; scientists to New Zealand; financial services workers to the UAE; and marketing and sales professionals to Portugal.

The research looked at expats in the following 10 countries: Canada, France, Italy, New Zealand, Norway, Portugal, Singapore, Spain, Sweden and the UAE.

A total of 1,399 expats were surveyed. The report was also based on a range of data including figures from the Office for National Statistics, International Passenger Survey, the Organisation for Economic Co-operation and Development and the World Values Survey.

[Unregistered]

[QUOTE=Unregistered]

Dun think so. I think their bidding price is reasonable. The second offer is trying luck so we cannot compare with that offer. If they bid too low, they run the risk of rejected sale from URA, like the Jurong West land. Then it is as good as nothing. When no one is buying land , it is wise to go in when there is no competition. A wise developer will not dream to secure a land at unreasonable offer as our government is not desperate to sell.
So you think that paying an extra $86m is reasonable - you must be nuts to do this kind of business.

And you call others sour grapes. That's because you are broke nuts.

[我报]

http://www.mypaper.com.sg/images/mypaper-logo.gif
Jobs slashed in the US, but jobs aplenty in Asia
Claire Huang
我报
Thursday, 13 March 2008

http://business.asiaone.com/a1media/business/11Nov07/20071127.105401_caltexhse_workers_350x175.jpg

While the weakening United States' economy saw 63,000 jobs slashed last month, Asia Pacific is troubled by a talent crunch.

The Robert Walters Global Survey released yesterday showed that even as salaries increase regionally, there is still a shortage of middle to senior level candidates.

Mr Mark Ellewood, managing director of recruitment specialist Robert Walters Singapore, said that the US recessio is starting to affect Europe, but he said as long as it does not spread to China and India, the bullish job trend will remain.

It is an observation echoed by Mr James Koh, director of global staffing firm Aquent Singapore.

He said: "Market sentiment is still strong in this part of the world and companies are still bullish in their outlook."

However, he added that companies "are taking the US situation into consideration" and "making sure the business is prepared to weather any tremors".

The Robert Walters survey says that on average, the various sectors in Singapore raised their total hiring by 15 to 20% last year.

Still, there is a local shortage and it has resulted in "companies looking overseas to recruit foreign talent, particularly from Europe and Australia", Mr Ellewood said.

For every one local hire in the energy sector, for example, two are foreigners. These include engineers and technicians from countries such as the Philippines, India and Myanmmar.

The banking and financial sector saw an increase of at least 30% in foreign hires last year, compared to 2006.

The talent crunch is also not helped by government projects planned by countries in this region.

Malaysia's Multimedia Super Corridor and its 9th Malaysian Plan, for example, have contributed to the high demand for information technology talent, the survey says.

In Hong Kong, companies are resorting to guaranteed bonuses and buy-out notice periods to lure the top brains. In New Zealand, some candidates are hired before they arrive in the country to prevent them from being poached.

The Robert Walters survey was based on the salaries of the employees it hired in 2007, across all sectors and countries within which it operates.

[Unregistered]

The second highest bid was submitted by Far East at $301.14 psf ppr.

Li Kashing's Cheung Kong group's winning bid of $305.36 psf ppr is only 1.4% above the second highest bid.

Not 75%.

http://www.businesstimes.com.sg//mnt/media/image/launched/2008-03-20/BT_IMAGES_WEST20.jpg

This shows that sour grapes are either:

1. Clueless about the property market; or
2. Extremely poor in mathematics; and
3. Prone to bullshit.

How could a sour grape have "Heard the team deciding on the bidding price is in serious trouble because the bidding price is way too high"?

In order to hear that the team is in "serious trouble", the person "hearing" it must be farely well-connected in property circles. How can sour grapes be well-connected in property circles?

If sour grapes are well-connected in property circles, then they won't be sour grapes in the first place. This is known as the SGP (Sour Grape Paradox).

In fact, Cheung Kong, even though based in Hong Kong, had demonstrated very sharp market acumen to bid only 1.4% above the next highest bid.

This is totally contradictory to sour grape's "wise" observations that "their knowledge of the local market and other property players are really limited!!!!"
You're climbing up the wrong nut tree. He's talking about the Yishun land parcel - bid by MCL. Even more nuts than the guy who thought the bid was reasonable.

Anyway you cracked and broke nuts can have the whole forum to yourselves. Nothing you say will change the market.

[Unregistered]

You're climbing up the wrong nut tree. He's talking about the Yishun land parcel - bid by MCL. Even more nuts than the guy who thought the bid was reasonable.

Anyway you cracked and broke nuts can have the whole forum to yourselves. Nothing you say will change the market.
OK, goodbye loser!

[Unregistered]

Wah!
Singapore is Top10 destination for UK expats.
But Singapore is very small and UK is very big leh.
If many of them come, our island will sink.
How?

[Unregistered]

Within next 12 months, you will see DOW at 16000, STI at 4500, spore property will easily >60% of today's price.
No need to buy or sell, sit tight & watch.


http://www.dowjones.com/DJCom/Images/LogoHome.gif
Dow Heading For 16,000, Richard Band Says Rolling Eyes
Mark Hulbert
Dow Jones
Anandale, Virginia, U.S.
Friday, 28 March 2008, 12:58 AM U.S. EST

Richard Band is not someone who makes outlandish predictions just to get headlines.

So I sat up and took notice earlier this week when he wrote to subscribers of his Profitable Investing newsletter that the stock market was ready to "rocket higher" in an "uptrend that could carry the blue chip indexes to all-time highs by late 2008 or early 2009. Dow 16,000 here we come!"

The Hulbert Financial Digest (HFD) has been tracking Band's newsletter since the beginning of 1991. Over the subsequent 17 years, his recommended portfolio has been 35% less volatile than the overall stock market, as measured by relative volatilities. To use a baseball analogy, this shows that Band is more inclined to try to get a base hit than he is to attempt to belt a home run.

Band's conservative approach is crucial to properly interpreting his newsletter's performance. According to the HFD, the newsletter's model portfolios on average have produced an 8.6% annualized return since the beginning of 1991, in contrast to 10.9% annualized for the Dow Jones Wilshire 5000 index (DWC). But with only two thirds as much risk, we should expect some below-market return.

It turns out that, upon risk-adjusting his newsletter's performance, it equals that of the market itself. That's good enough to place it in the upper echelon of newsletters over this period, and another reason to give weight to his forecast.

Technical factors appear to have led Band to make such a bold prediction, which amounts to a 33% return for the overall market over the next 12 months.

The first has to do with the stock market's internal characteristics when it hit a low earlier this month. Band argues that that low possessed "many striking technical resemblances to the great bear market bottoms of the past."

To be sure, Band wrote that on Tuesday night, and since then the Dow Jones Industrial Average (DJI) has dropped 230 points.

But Band says he is not particularly worried. On Thursday night, he told subscribers not to let "Mr. Market wear you out!"

Band continued: "We're in a critical stage for stocks right now, what technical analysts call the 'right shoulder' of a head-and-shoulders bottom. The left shoulder formed on March 10, when the Standard & Poor's 500 index (SPX) touched its closing low for the year (so far) at 1273.37. The upside-down head came on March 17, when the index broke to a new low intraday but finished at 1276.60, slightly above the March 10 close. Now we're sliding down again to complete the right shoulder of the pattern. If all goes well, the S&P should remain comfortably above the two previous closing lows. Then we can rocket higher in April."

Band adds that when the right shoulder of a head-and-shoulders bottom is forming, "the biggest temptation for investors is to throw up their hands and say, 'This market will never go up. It's doomed.' Don't make that mistake. A very powerful and durable rally is in the works. But it may need another couple of days to lift off. Hold the fort and keep the faith!"

Band is recommending several exchange-traded funds and one open-end mutual fund for subscribers who want to increase their equity exposure: The iShares Russell 1000 Growth Fund (IWF), the iShares MSCI Emerging Markets Index Fund (EEM), and Selected American Shares (SLASX).

Sure or not? 16,000! No joke you know?

[Unregistered]

SINGAPORE : Billion Rise - a company believed to be linked to Hong Kong property giant Cheung Kong Holdings - has put in the top bid of S$110.4 million for a residential site at West Coast Crescent.

This works out to S$305 per square foot per plot ratio for the 99-year leasehold parcel.

Analysts expect a break-even price of between S$680 and S$720 per square foot for a new condominium on the site. The units are expected to be marketed at around S$800 per square foot.

If you guys are not aware, HK Property Giant Cheung Kong Holdings is actually part of LKS's group of companies. These sharp, well informed Hongkoners just don't close one eye and buy. They know West Coast area is another gem waiting to be harvest. Billion Rise will ramp up the prices for WC/PP area, in 2-3 years time, you will see psf going up like no tomorrow. HUAT AH!!!!


Heard the team deciding on the bidding price is in serious trouble because the bidding price is way too high (75% higher than the second highest bid) which meant their knowledge of the local market and other property players are really limited!!!!


You're climbing up the wrong nut tree. He's talking about the Yishun land parcel - bid by MCL. Even more nuts than the guy who thought the bid was reasonable.

Anyway you cracked and broke nuts can have the whole forum to yourselves. Nothing you say will change the market.

No I am not climbing up the wrong sour grape tree. You can refer to the posts above, the sour grape was obviously referring to Billion Rise (Cheung Kong's) West Coast bid. I have cut and pasted the sequence of posts above, as evidence, or you can scroll back to earlier pages and refer to the posts yourself.

The problem with sour grapes is that they are not familiar with the property market, but yet like to talk rubbish.

Obviously, the sour grape has confused Billion Rise (Cheung Kong)'s $305 psf ppr bid for the West Coast site with MCL Land's $350 psf ppr bid for the Yishun site.

This is the fifth demonstration of ignorance by a sour grape that I have detected in this forum.

The first was when a sour grape commented that "Bayshore Park" had no sea view because it was blocked by Costa Del Sol, when in fact the development that was blocked was "The Bayshore".

The second time was when a sour grape didn't know that the bulk property purchases were usually done at a discount.

The third time was when a sour grape didn't know that a bank's job is to make loans and not to speculate in properties.

The fourth time was when a sour grape didn't know that agents don't really care whether the market moves up or down, but that it moves.

Now this is the fifth time, confusing a West Coast bid with a Yishun bid. Well $305 psf ppr has the same digits as $350 psf ppr. There are the three numbers "3", "0" and "5".

Just like "Bayshore Park" and "The Bayshore" both have the same word "Bayshore" inside it.

Perhaps sour grapes are people who are easily confused.

[Unregistered]

No I am not climbing up the wrong sour grape tree. You can refer to the posts above, the sour grape was obviously referring to Billion Rise (Cheung Kong's) West Coast bid. I have cut and pasted the sequence of posts above, as evidence, or you can scroll back to earlier pages and refer to the posts yourself.

The problem with sour grapes is that they are not familiar with the property market, but yet like to talk rubbish.

Obviously, the sour grape has confused Billion Rise (Cheung Kong)'s $305 psf ppr bid for the West Coast site with MCL Land's $350 psf ppr bid for the Yishun site.

This is the fifth demonstration of ignorance by a sour grape that I have detected in this forum.

The first was when a sour grape commented that "Bayshore Park" had no sea view because it was blocked by Costa Del Sol, when in fact the development that was blocked was "The Bayshore".

The second time was when a sour grape didn't know that the bulk property purchases were usually done at a discount.

The third time was when a sour grape didn't know that a bank's job is to make loans and not to speculate in properties.

The fourth time was when a sour grape didn't know that agents don't really care whether the market moves up or down, but that it moves.

Now this is the fifth time, confusing a West Coast bid with a Yishun bid. Well $305 psf ppr has the same digits as $350 psf ppr. There are the three numbers "3", "0" and "5".

Just like "Bayshore Park" and "The Bayshore" both have the same word "Bayshore" inside it.

Perhaps sour grapes are people who are easily confused.

Brother, relax! Forgive him lah. Price not down, sour grape is panic, where got time to do homework, where got brain to think.

[Unregistered]

No I am not climbing up the wrong sour grape tree. You can refer to the posts above, the sour grape was obviously referring to Billion Rise (Cheung Kong's) West Coast bid. I have cut and pasted the sequence of posts above, as evidence, or you can scroll back to earlier pages and refer to the posts yourself.

The problem with sour grapes is that they are not familiar with the property market, but yet like to talk rubbish.

Obviously, the sour grape has confused Billion Rise (Cheung Kong)'s $305 psf ppr bid for the West Coast site with MCL Land's $350 psf ppr bid for the Yishun site.

This is the fifth demonstration of ignorance by a sour grape that I have detected in this forum.

The first was when a sour grape commented that "Bayshore Park" had no sea view because it was blocked by Costa Del Sol, when in fact the development that was blocked was "The Bayshore".

The second time was when a sour grape didn't know that the bulk property purchases were usually done at a discount.

The third time was when a sour grape didn't know that a bank's job is to make loans and not to speculate in properties.

The fourth time was when a sour grape didn't know that agents don't really care whether the market moves up or down, but that it moves.

Now this is the fifth time, confusing a West Coast bid with a Yishun bid. Well $305 psf ppr has the same digits as $350 psf ppr. There are the three numbers "3", "0" and "5".

Just like "Bayshore Park" and "The Bayshore" both have the same word "Bayshore" inside it.

Perhaps sour grapes are people who are easily confused.

As a whole, seller are more knowledgable than buyers in terms of property market.
It is not surprise because most sellers had done buying before while most of the buyers were not doing selling before...As what chinese say: 'know me know you, conquer hundred times and win hundred times'

[Unregistered]

As a whole, seller are more knowledgable than buyers in terms of property market.
It is not surprise because most sellers had done buying before while most of the buyers were not doing selling before...As what chinese say: 'know me know you, conquer hundred times and win hundred times'I think most sellers had make good money in the property boom.Therefore they speak with confidence cum with strong holding power.

[Unregistered]

I think most sellers had make good money in the property boom.Therefore they speak with confidence cum with strong holding power.

The holding power is due to the fact that most of the recent investors have fairly high income and deep pockets.

During the very hot market, a lot of units were sold out during previews. These were bought by people connected to the developers, sometimes family members, sometimes senior management and business associates who were given priority in booking.

Examples:

The Straits Times

6 July 2007

UNITED Overseas Land (UOL) chairman Wee Cho Yaw and his family have picked up six units in UOL's latest project, Duchess Residences in Bukit Timah.


TODAY 26 Jan 2008

Hsien Yang's in-laws buy F&N-developed condo

Fraser and Neave (F&N) has sold a unit of its Soleil @ Sinaran residential development for $2.66 million to the relatives of its chairman Lee Hsien Yang (picture).


A lot don't make it to the news e.g. some general managers or executive directors buying units.

Generally these are well-heeled people.

Sentosa Cove sets new record for bungalow land

Weekend August 26, 2006

Super-rich drive up in style for bungalow land auction

Jasmine Yin
[email protected]

IT WAS an auction to live at what is dubbed the "world's most desirable address" - and the bidders had the wheels to prove it.

Among the gleaming luxury cars parked outside the glass-panelled Sentosa Cove sales and information centre yesterday afternoon were at two Rolls Royces and three Lamborghinis. Remarked one participant of the closed-door auction: "They make the other Mercedes Benz, Lexus and BMW cars that are parked here look run-of-the-mill."

On offer were 12 prime South Cove Collection bungalow land parcels - nine plots face the ocean, two the waterway and one the fairway.

Almost 400 bidders showed up, Sentosa spokesperson Robin Goh told Today. Half of them were Singaporeans.There was "an air of anticipation" inside the centre, as the bidders - many of whom were from the banking, finance and medical professions - sipped on wine and dined on Les Amis-catered baby scallops and French sausages while waiting for the auction to begin.

[Unregistered]

You're climbing up the wrong nut tree. He's talking about the Yishun land parcel - bid by MCL. Even more nuts than the guy who thought the bid was reasonable.

Anyway you cracked and broke nuts can have the whole forum to yourselves. Nothing you say will change the market.

In the first place, this whole forum is for "cracked and broke nuts" like us.

Read the URL, it says condosingapore.com

Not sourgrapes.com

The proper things to discuss in this forum should be things like:

1. How will the upcoming integrated resorts affect property prices in the West Coast? Then perhaps some West Coasters can share their views and experiences here.

2. Or how does the recent bids by developers tell us about suburban properties? Perhaps someone who owns a suburban condo can tell us about the attractions and infrastructural investments coming up in their areas.

3. Or how foreign talents affect the rental in different parts of Singapore. Perhaps someone staying near Serangoong Gardens would like to share his/her experience about Australian tenants near the Australian International School; and those around Katong about Canadians near the Canadian International campus there.

Instead, we are getting a bunch of sour grapes coming in shouting "Property market crash, crash, crash!" and flooding the whole place with news about the subprime US housing market.

Then some forumers fought back by posting news about stock market going to rise, rise, rise ...

Everytime the forum moderator starts a new thread, notice the title of the thread is related to the local property market here in Singapore, not the subprime or housing market in the US.

Instead, almost every thread ends up as a war between condo investors and the sour grapes.

I suggest the moderator create a new website called sourgrapes.com or subprimeUSA.com or condoUSA.com so that this forum can go back to discussing about condos in Singapore.

[Frustrated]

There are many schzoids and psychos who are depressed like the housinf and subprime market right now.Simply venting their frustrations.

[Unregistered]

There are many schzoids and psychos who are depressed like the housinf and subprime market right now.Simply venting their frustrations.
And you are one of them.

[Unregistered]

Within next 12 months, you will see DOW at 16000, STI at 4500, spore property will easily >60% of today's price.
No need to buy or sell, sit tight & watch.


http://www.dowjones.com/DJCom/Images/LogoHome.gif
Dow Heading For 16,000, Richard Band Says Rolling Eyes
Mark Hulbert
Dow Jones
Anandale, Virginia, U.S.
Friday, 28 March 2008, 12:58 AM U.S. EST

Richard Band is not someone who makes outlandish predictions just to get headlines.

So I sat up and took notice earlier this week when he wrote to subscribers of his Profitable Investing newsletter that the stock market was ready to "rocket higher" in an "uptrend that could carry the blue chip indexes to all-time highs by late 2008 or early 2009. Dow 16,000 here we come!"

The Hulbert Financial Digest (HFD) has been tracking Band's newsletter since the beginning of 1991. Over the subsequent 17 years, his recommended portfolio has been 35% less volatile than the overall stock market, as measured by relative volatilities. To use a baseball analogy, this shows that Band is more inclined to try to get a base hit than he is to attempt to belt a home run.

Band's conservative approach is crucial to properly interpreting his newsletter's performance. According to the HFD, the newsletter's model portfolios on average have produced an 8.6% annualized return since the beginning of 1991, in contrast to 10.9% annualized for the Dow Jones Wilshire 5000 index (DWC). But with only two thirds as much risk, we should expect some below-market return.

It turns out that, upon risk-adjusting his newsletter's performance, it equals that of the market itself. That's good enough to place it in the upper echelon of newsletters over this period, and another reason to give weight to his forecast.

Technical factors appear to have led Band to make such a bold prediction, which amounts to a 33% return for the overall market over the next 12 months.

The first has to do with the stock market's internal characteristics when it hit a low earlier this month. Band argues that that low possessed "many striking technical resemblances to the great bear market bottoms of the past."

To be sure, Band wrote that on Tuesday night, and since then the Dow Jones Industrial Average (DJI) has dropped 230 points.

But Band says he is not particularly worried. On Thursday night, he told subscribers not to let "Mr. Market wear you out!"

Band continued: "We're in a critical stage for stocks right now, what technical analysts call the 'right shoulder' of a head-and-shoulders bottom. The left shoulder formed on March 10, when the Standard & Poor's 500 index (SPX) touched its closing low for the year (so far) at 1273.37. The upside-down head came on March 17, when the index broke to a new low intraday but finished at 1276.60, slightly above the March 10 close. Now we're sliding down again to complete the right shoulder of the pattern. If all goes well, the S&P should remain comfortably above the two previous closing lows. Then we can rocket higher in April."

Band adds that when the right shoulder of a head-and-shoulders bottom is forming, "the biggest temptation for investors is to throw up their hands and say, 'This market will never go up. It's doomed.' Don't make that mistake. A very powerful and durable rally is in the works. But it may need another couple of days to lift off. Hold the fort and keep the faith!"

Band is recommending several exchange-traded funds and one open-end mutual fund for subscribers who want to increase their equity exposure: The iShares Russell 1000 Growth Fund (IWF), the iShares MSCI Emerging Markets Index Fund (EEM), and Selected American Shares (SLASX).

Sure or not? 16,000! No joke you know?
Get ready to enjoy another round of assets/equities enhancement soon.

[CNA]

http://www.channelnewsasia.com/images/CNAlogo.gif
HDB and private property prices up in Q1 flash estimates
Channel NewsAsia
Tuesday, 1 April 2008, 1345 hrs

http://www.channelnewsasia.com/imagegallery/store/phpqVz7c1.jpg

Private residential property prices in Singapore rose 4.2% in the first quarter this year, according to the latest preliminary estimates from the Urban Redevelopment Authority.

The pace was slower than the 6.8% clip recorded in the fourth quarter of last year.

On a quarter on quarter basis, the biggest rise in property prices for non-landed properties came from the central districts just outside the prime postal districts of 9, 10 and 11.

Prices in these central areas (i.e. RCR) increased 7.7% in January to March, compared with the October to December period.

Properties in the prime districts of 9, 10 and 11, as well as the downtown area and Sentosa (i.e. CCR), rose 7.5% on quarter.

And those in the rest of Singapore (i.e. OCR) advanced about 7% in the first quarter from the previous three months.

The preliminary estimates are based on transaction prices given in caveats lodged during the first 10 weeks of the quarter, as well as the number of new units sold.

Meantime, the Housing and Development Board says prices of HDB resale flats rose 3.4% in the January to March period over the previous three months.

This is lower than the 5.7% increase in the fourth quarter.

Both the URA and HDB will release final figures at the end of April.

The URA said in its release, that as at 4th Quarter 2007,there are about 64,900 private residential units in the pipeline, of which about 56,100 new private housing units are expected to be completed between 2008 and 2011.

There are also some 38,300 units that have yet to be put on sale by developers.

As for the supply of government flats, the HDB said it had made available in the first quarter of this year, some 1,100 new flats in two Build-To-Order (BTO) projects in Punggol and Yishun.

It said that depending on demand, there could be another 5,000 new BTO flats in towns such as Punggol, Sengkang, Woodlands and Bukit Panjang.

The total planned BTO supply of 6,100 new flats for January till September 2008 will surpass the annual BTO flat supply in 2007 and 2006.

This new supply of flats will be in addition to those offered under Balloting Exercises for surplus replacement SERS and other flats, as well as the planned release of three Design-and-Build sites in Simei, Toa Payoh and Bedok with some 1,500 flats in the 1st half of 2008.

[Unregistered]

Get ready to enjoy another round of assets/equities enhancement soon.
Soon? You mean now?

Your property assets just got enhanced in Q1.

[Unregistered]

My stupid reliable source told me it is going down in Q1.
He is worse than UMNO's sources.
At least UMNO still wins.

[Unregistered]

My stupid reliable source told me it is going down in Q1.


There may be some truth in that.

The last two times property market caught fire in Singapore, it ended up burning everyone with extreme crashes.
Once it was the Asian Financial Crisis. Other time was SARS.

This time you have the global financial crisis. Last time Ringgit being devalued caused such a problem in the region. This time the US$ is going down and we have a food shortage. I feel that this time its going to be much worse and the effects will be just as bad. OK so the IR and F1 are coming, but if high-rollers have lost their money, who is going to come and spend here on those items.

[Unregistered]

There may be some truth in that.

The last two times property market caught fire in Singapore, it ended up burning everyone with extreme crashes.
Once it was the Asian Financial Crisis. Other time was SARS.

This time you have the global financial crisis. Last time Ringgit being devalued caused such a problem in the region. This time the US$ is going down and we have a food shortage. I feel that this time its going to be much worse and the effects will be just as bad. OK so the IR and F1 are coming, but if high-rollers have lost their money, who is going to come and spend here on those items.
I know. Believe me. I like you also like to talk, talk, talk. Say this, say that.

Anyway, to put it simply, that stupid source is simply unreliable!
Let's face it. We're all wrong! Wrong, wrong, wrong! All wrong!

Fedup!

[Unregistered]

My suggestion to all ppty owners is to continue to hold your units. Don't let go easily. It comes to a point very soon that ppl will start to realize that in order to preserve their assets value is to invest in ppty to hedge the monster inflation that looming into Asia.

Mark my words, Singapore ppty prices will continue to appreciate and double in a year or two.

[Unregistered]

My suggestion to all ppty owners is to continue to hold your units. Don't let go easily. It comes to a point very soon that ppl will start to realize that in order to preserve their assets value is to invest in ppty to hedge the monster inflation that looming into Asia.

Mark my words, Singapore ppty prices will continue to appreciate and double in a year or two.

Thank you for your suggestion.

I will definitely be holding on to my units and not going to let go.

My units are giving rental yield of around 5% p.a. while I pay the bank interest charges of around 3% p.a.

So I keep the 2% p.a.

The bank is paying me 2% p.a. for borrowing money from them.

Does that sound ridiculous?

[Unregistered]

Thank you for your suggestion.

I will definitely be holding on to my units and not going to let go.

My units are giving rental yield of around 5% p.a. while I pay the bank interest charges of around 3% p.a.

So I keep the 2% p.a.

The bank is paying me 2% p.a. for borrowing money from them.

Does that sound ridiculous?

U r spot on. The more of these news of high rental yield comes out, the more those sour grapes will turn violent and starts to talk nonsense in the forum. Yes, agree that we all should not sell but hold on. Lets those panicky buyer starts to realized that they have to buy at high price, no other choice.

[Unregistered]

My suggestion to all ppty owners is to continue to hold your units. Don't let go easily. It comes to a point very soon that ppl will start to realize that in order to preserve their assets value is to invest in ppty to hedge the monster inflation that looming into Asia.

Mark my words, Singapore ppty prices will continue to appreciate and double in a year or two.

I've just had lunch with a property analyst and he predicts Singapore property market will eventually be like HongKong, ie. price will shoot through the roof like no tomrorow. I tend to believe him cos we are very similar to Hongkong, ie. small land area packed with so many people.

[Unregistered]

I've just had lunch with a property analyst and he predicts Singapore property market will eventually be like HongKong, ie. price will shoot through the roof like no tomrorow. I tend to believe him cos we are very similar to Hongkong, ie. small land area packed with so many people.
What about Manhatten?
It is shooting up like no tomorrow too.

Its average psf has just increased by 20.5% to US$1,289 psf.

http://l.yimg.com/us.yimg.com/i/us/nws/p/reuters_logo_94.png
Manhattan Apartment Prices Rise
Ilaina Jonas
Reuters
New York, New York, U.S.
Wednesday, 2 April 2008, 12:41am U.S. EDT

Manhattan apartment prices soared in the first quarter, but sales fell and inventory rose under the weight of tighter mortgage terms and Wall Street job fears, according to several reports.

The median sales price rose 13.2% to a record $945,276 over the prior-year quarter, while the average sales price increased 33.5% to a record $1,722,991, according to the Prudential Douglas Elliman Manhattan Market Overview quarterly report released on Wednesday.

"The market is leaning much more to the higher end and part of that comes from what's gone on in the mortgage markets," said Greg Heym, senior vice president of research for Terra Holdings, parent company of real estate firms Brown Harris Stevens and Halstead Property.

"In the mid- to lower-price stuff you see fewer sales in these categories because those are the people affected by tighter standards," Heym said.

The Manhattan housing market has been insulated from the U.S. housing crisis that has sent the national median sales price of an existing home down 8.2% to $195,900. New home prices have fallen even further.

However, soaring mortgage defaults nationwide set off a broader credit crisis that could put more than 25,000 New York jobs in the financial sector - which drives the local real estate market -- at risk.

"When a market is on such solid footing as ours was, it cannot fall apart in a span of a couple of months. It's going to take longer than that. You're going to have to see more layoffs actually happening," Heym said. "Until people are forced to sell their apartment for whatever they can get for them, that's the missing ingredient in a downturn."

So far it hasn't.

The average price per square foot leaped 20.5% to a record US$1,289 psf, according to the Prudential report.

Halstead Property said the average price rose 47% over the first quarter 2007 to $1,690,995, driven by sales of apartment priced over $10 million.

"There were 84 sales in between 15 Central Park West and The Plaza and the effect that that has on all these number is tremendous," Heym said.

Some of the apartment sold during the quarter -- including those at 15 Central Park West and The Plaza -- reflect deals that had been agreed to in previous years.

The median sales price rose 13%, Halstead said. Although sales at ultra luxury projects 15 Central Park West and The Plaza skewed the results, prices still set records or near records even after removing those deals. Without the two projects the average price would have been $1,417,496, Halstead said.

Yet the pace of sales slowed and the number of homes on the market rose for the first time since the housing boom started about four years ago, Herman said.

"That's the story -- sales and inventory this quarter," said Jonathan Miller, author of the Prudential report.

The number of sales fell 1%, according to Halstead. It had about 600 more sales in its statistical pool than Prudential, which said the number fell 34.3% this quarter to 2,282 units. It was the largest drop since Miller began compiling the report in 1989.

"These numbers reflect what happen with the mortgage fiasco," and do not reflect the layoffs that have yet to happen, said Dottie Herman, Prudential CEO.

"People have no sense of urgency, and you're in a much more price sensitive time now," she said. "There's a lot of uncertainty."

The number of homes on the market rose 4.6% to 6,194 from last year, Prudential said. Homes for sale remained on the market for 146 days, two weeks longer than a year earlier, according to the Prudential report.

Wiggle room on prices remained about the same as last year, about a 3.2% discount from the asking price, according to the Prudential report.

"It's not a buyers' market yet, but the pendulum has switched to the buyers now," Corcoran Group Chief Executive Officer Pam Liebman said.

The Corcoran Group said the average price jumped 19% to $1.626 million, while the median rose 9% to $917,000. The price per square foot was up 16% to $1,224. Inventory of homes for sale was up 15% at the end of March.

[Unregistered]

I've just had lunch with a property analyst and he predicts Singapore property market will eventually be like HongKong, ie. price will shoot through the roof like no tomrorow. I tend to believe him cos we are very similar to Hongkong, ie. small land area packed with so many people.
Moron. Whu pay for the lunch? i bet u and he were waiting for each other to pay for the lunch. btw u lunch coffee shop? If price can "shoot" we rather u be shot for talking rubbish

[Unregistered]

I've just had lunch with a property analyst and he predicts Singapore property market will eventually be like HongKong, ie. price will shoot through the roof like no tomrorow. I tend to believe him cos we are very similar to Hongkong, ie. small land area packed with so many people.

Moron. Whu pay for the lunch? i bet u and he were waiting for each other to pay for the lunch. btw u lunch coffee shop? If price can "shoot" we rather u be shot for talking rubbish
Singapore property price shooting through the roof like no tomorrow?

Like Manhatten apartment average psf shooting up by 20.5% to US$1,289 psf?

[Unregistered]

Singapore property price shooting through the roof like no tomorrow?

Like Manhatten apartment average psf shooting up by 20.5% to US$1,289 psf?

Moron. Shoot ur ASS, dun mislead readers here, go find better things to do.
we got nothing to do wit manhatten, Moron, y dun u compare usa sub prime properties? pathetic

[Unregistered]

Moron. Whu pay for the lunch? i bet u and he were waiting for each other to pay for the lunch. btw u lunch coffee shop? If price can "shoot" we rather u be shot for talking rubbish

We just had bird nest washing our throats before the buddha jump over the wall come next for appetizer, followed by giagantic abalone where we must insist on using a saw instead of the usual knives. Bet you are still eating the 80cents cup noodles in the office while we were enjoying lunch.

[Unregistered]

Singapore property price shooting through the roof like no tomorrow?

Like Manhatten apartment average psf shooting up by 20.5% to US$1,289 psf?
u haven answer me which coffeeshop u go to. whu pay and u lunch hour so short???? wat can be discused??????

[Unregistered]

Moron. Shoot ur ASS, dun mislead readers here, go find better things to do.
we got nothing to do wit manhatten, Moron, y dun u compare usa sub prime properties? pathetic
Why you like USA so much?

You like USA, you got USA - Manhatten.

[Unregistered]

We just had bird nest washing our throats before the buddha jump over the wall come next for appetizer, followed by giagantic abalone where we must insist on using a saw instead of the usual knives. Bet you are still eating the 80cents cup noodles in the office while we were enjoying lunch.
My cum to wash down ur throats, after tat bill come, u jump off the wall followed by a visit to geylang to buy dirty "abalone". thereafter u caught AIDS n had to kill urself by using a knife.

[Unregistered]

My cum to wash down ur throats, after tat bill come, u jump off the wall followed by a visit to geylang to buy dirty "abalone". thereafter u caught AIDS n had to kill urself by using a knife.

why u so work up??? Just becos I say property prices shoot up. Relax la bro. So work up for nothing can get heart attack very easily.

[Unregistered]

why u so work up??? Just becos I say property prices shoot up. Relax la bro. So work up for nothing can get heart attack very easily.
Like i say, dun mislead readers here, MORON, u haven kill urself????

[Unregistered]

My cum to wash down ur throats, after tat bill come, u jump off the wall followed by a visit to geylang to buy dirty "abalone". thereafter u caught AIDS n had to kill urself by using a knife.

why u so work up??? Just becos I say property prices shoot up. Relax la bro. So work up for nothing can get heart attack very easily.
Exactly.
No need to get so worked up.

Aiway! Just ignore that guy lah!
Who is he anyway?
Just focus on the latest news on URA figures, global stocks rally and Manhatten apartment price increase will do.
No need to listen to him.

[Unregistered]

Exactly.
No need to get so worked up.

Aiway! Just ignore that guy lah!
Who is he anyway?
Just focus on the latest news on URA figures, global stocks rally and Manhatten apartment price increase will do.
No need to listen to him.
Generally if stocks market is good, it has to be on constant good for approx. few months whereby cash are more liquid in the market for properties to follow. property price wont shoot up overnight cos nothing is stable right now. there are no directions right now, we are like headless chicken running around. so my take is to monitior the situation for a while 1st before doing anything.

[Unregistered]

Banking's Job Losses Could Accelerate, Analyst Says
By AP | 01 Apr 2008 | 11:59 AM ET


The U.S. financial industry has been shedding jobs at a record clip, and some analysts predict the pace will only accelerate over the next year-and-a-half as banks cut costs in the face of the housing market slump and the weak economy.
Analysts at the financial research firm Celent said in a report Tuesday that it expects the U.S. commercial banking industry -- essentially, all companies that lend or collect deposits -- to lose 200,000 of its 2 million jobs over the next 12 to 18 months.
An annual loss of 200,000 jobs at the nation's commercial banks would be an unprecedented number.

In 2007, the entire financial services sector -- which consists of mostly commercial banks -- announced job cuts that totaled a record 153,000, according to the job placement consultancy Challenger, Gray & Christmas, Inc. More than half of those cuts were in the mortgage-lending business, and occurred all over the country, particularly in New York and California.

Octavio Marenzi, the head of Celent's financial consultancy unit, said more layoffs are inevitable as the subprime crisis hits other parts of the banking industry and spreads beyond mortgages to mortgage-related products, such as home-equity loans, and other types of lending, such as credit cards.
"The banking industry over the past 40 years has never seen a downturn in its revenue growth," Marenzi said. "In 2008, it looks like it will decrease for the first time in living memory. They're going to have to respond with severe cost cutting. It's not an environment they're entirely used to."

The credit crisis began in earnest last summer when the markets tightened up at the sight of spiking subprime mortgage defaults.

"There's no horizon yet that anybody can see," said John Challenger, who runs Challenger, Gray & Christmas. "New events keep rolling out ... suggesting that there's more to come."

Financial services companies announced in January that they were cutting 16,000 U.S. jobs, and companies said in February they were trimming 6,000 more, Challenger said. Those figures are below last year's peak in August when companies announced they were cutting nearly 36,000 jobs, but analysts expect further bloodletting in the coming months.

Many banks that have reported huge losses have so far not announced significant layoffs outside the mortgage area, Challenger added. Just Tuesday, Swiss bank UBS -- which has a big portion of its staff in the United States -- said it lost more than $12 billion in the first quarter.

And Celent's estimate does not include the securities industry, which currently employs some 800,000 people -- more than it ever has, after a multiyear hiring spree, Marenzi said.

The investment bank Bear Stearns has 14,000 staffers, and JPMorgan Chase
the company buying the investment bank, has not yet announced how much of that staff it intends to keep.

Meanwhile, Citigroup officially announced in January it was cutting 4,200 jobs globally, mostly in its investment banking business, but said there are more layoffs to come.

What we haven't seen are big mega-layoffs -- tens of thousands of people in a large company," Challenger said. "It just feels to me there are big ones coming."

The banking industry is not the only one shedding jobs recently. Manufacturing and construction companies have been laying off workers for a couple years now amid the flagging housing market and weak automotive industry.
Though financial services employment has been contracting for the past few months, employment in other sectors -- such as wholesale trade, construction and public administration -- have been contracting at a faster pace, said Anthony Nieves. Nieves is the chairman of the Institute for Supply Management's survey committee for businesses outside the manufacturing sector.
And hiring does not appear to be at a total standstill in financial services. JPMorgan, for one, did more hiring than firing last year.

But the financial services industry is large, so its layoffs affect the broader job market significantly. In February, U.S. employers eliminated more jobs than they created for the second straight month, according to the Labor Department. The department releases its March report on Friday, and economists, on average, are expecting another net loss.

[Unregistered]

Banking's Job Losses Could Accelerate, Analyst Says
By AP | 01 Apr 2008 | 11:59 AM ET


The U.S. financial industry has been shedding jobs at a record clip, and some analysts predict the pace will only accelerate over the next year-and-a-half as banks cut costs in the face of the housing market slump and the weak economy.
..........
..........

Wah lau!
Keep you old news lah.

[Unregistered]

Generally if stocks market is good, it has to be on constant good for approx. few months whereby cash are more liquid in the market for properties to follow. property price wont shoot up overnight cos nothing is stable right now. there are no directions right now, we are like headless chicken running around. so my take is to monitior the situation for a while 1st before doing anything.

Exactly. It is not really buyer market yet. Keep bullet first.

[Unregistered]

we are very similar to Hongkong, ie. small land area packed with so many people.

Singapore doesn't have so many people - 4.5 million is much lower than any major city. In fact, Singapore is no. 35 globally. The govt. wants to increase it to 6+ million, but its not that easy. HK is 7.5+M

As for land, HK is hilly, therefore difficult to build on. Singapore is flat.
Singapore still has a lot of available land to build on. Whole areas of Pasir Ris, Senkang and Punggol are available. Woodlands is mostly empty, same for many other places on the north-south line. The story is similar in the west side (Boon Lay etc.)

There is place for growth.

If your friend is talking from a 20 year perspective, then we could agree with him. In the short term - 1 to 4 years from now, there is ample supply in the market + space available for more expansion to take care of the demand.

[Unregistered]

If banking sector sheds jobs, foreign talents in Singapore might be recalled. If they all exercise their "diplomatic clause" in the tenancy agreements, there will be many empty apartments. Shudder...!

[Unregistered]

If banking sector sheds jobs, foreign talents in Singapore might be recalled. If they all exercise their "diplomatic clause" in the tenancy agreements, there will be many empty apartments. Shudder...!
Major banks, including the foreign ones, are all hiring in Singapore. There is a shortage of manpower for them.

[Unregistered]

Exactly.
No need to get so worked up.

Aiway! Just ignore that guy lah!
Who is he anyway?
Just focus on the latest news on URA figures, global stocks rally and Manhatten apartment price increase will do.
No need to listen to him.

Ya lor, I just said I went lunch with this analyst and thats what I've heard from him and this idiot starts to shoot me like I have dig his ass without paying $$$.

[Unregistered]

Singapore doesn't have so many people - 4.5 million is much lower than any major city. In fact, Singapore is no. 35 globally. The govt. wants to increase it to 6+ million, but its not that easy. HK is 7.5+M

As for land, HK is hilly, therefore difficult to build on. Singapore is flat.
Singapore still has a lot of available land to build on. Whole areas of Pasir Ris, Senkang and Punggol are available. Woodlands is mostly empty, same for many other places on the north-south line. The story is similar in the west side (Boon Lay etc.)

There is place for growth.

If your friend is talking from a 20 year perspective, then we could agree with him. In the short term - 1 to 4 years from now, there is ample supply in the market + space available for more expansion to take care of the demand.

Ok, accept yr reasoning not like that moron who starts barking like a mad dog. But having said that, I am still of the opinion that our property prices have been lagging behind major cities such as HK and 2007 boom was just catching up scenario. I still believe we have at least 10-20% room to go up. Lets not forget inflation goes in tandem with property prices.

[Unregistered]

Generally if stocks market is good, it has to be on constant good for approx. few months whereby cash are more liquid in the market for properties to follow. property price wont shoot up overnight cos nothing is stable right now. there are no directions right now, we are like headless chicken running around. so my take is to monitior the situation for a while 1st before doing anything.
You are the only sane person in this forum

[Unregistered]

Ok, accept yr reasoning not like that moron who starts barking like a mad dog. But having said that, I am still of the opinion that our property prices have been lagging behind major cities such as HK and 2007 boom was just catching up scenario. I still believe we have at least 10-20% room to go up. Lets not forget inflation goes in tandem with property prices.
Wah! HongKong shoot up 1,017. 4.4% you know?

[Unregistered]

Wah! HongKong shoot up 1,017. 4.4% you know?
Why China so bad meh? Only 0.05%.

[Unregistered]

We just had bird nest washing our throats before the buddha jump over the wall come next for appetizer, followed by giagantic abalone where we must insist on using a saw instead of the usual knives. Bet you are still eating the 80cents cup noodles in the office while we were enjoying lunch.


My cum to wash down ur throats, after tat bill come, u jump off the wall followed by a visit to geylang to buy dirty "abalone". thereafter u caught AIDS n had to kill urself by using a knife.

Hahaha ... this post is funny.

One person saying he ate "buddha jump over the wall" and sour grape says that the person "jump over the wall".

The words all mixed up. Which confirms my hypothesis that ... sour grapes are maids !!!

Refer to my previous post in response to a sour grape who said that "My agent just called me and said that this weekend the firesale will pick momentum. All signs point to a big meltdown."


Scenario 3 - Sour Grape's "Agent" is not a Property Agent but a Maid Agent because Sour Grape is actually a Maid

Sour grape did not mention what type of agent. I suspect it could be a maid agent, and sour grape is actually a maid.

Here is my points to validate this hypothesis:

1. Property ownership in Singapore is almost 100% (85% HDB and 15% Private) hence a sour grape who hopes the property market to crash must be someone who does not own a property. Hence a maid fits this profile.

2. The maid agent told the maid "Go to market must bring cash."

Then the maid heard wrongly and kept posting here "Market going to crash."

Can you imagine what will happen if the boss tells the sour maid to buy "buddha jump over the wall"?

The undertaker will have business loh ...

[Unregistered]

Maybe the sour maid thinks that guy is a budda and wanna worship him?

[Unregistered]

Maybe the sour maid thinks that guy is a budda and wanna worship him?
Jump over the wall to worship him?

[Unregistered]

Hahaha ... this post is funny.

One person saying he ate "buddha jump over the wall" and sour grape says that the person "jump over the wall".

The words all mixed up. Which confirms my hypothesis that ... sour grapes are maids !!!

Refer to my previous post in response to a sour grape who said that "My agent just called me and said that this weekend the firesale will pick momentum. All signs point to a big meltdown."



Can you imagine what will happen if the boss tells the sour maid to buy "buddha jump over the wall"?

The undertaker will have business loh ...

Must be some1 working in maid agency.

[Unregistered]

Must be some1 working in maid agency.
That maddog is a foreigner. He knows nuts about Singapore.

[Unregistered]

That maddog is a foreigner. He knows nuts about Singapore.
I bet wit u tis writer is in a maid agent. every words he use involved maids, grapes, dog, foreigner etc.,

[Unregistered]

I bet wit u tis writer is in a maid agent. every words he use involved maids, grapes, dog, foreigner etc.,

Maid agents earn big bucks ok!

Look at those big ones like "Nation" and "Advance Link" who have been around for years.

They advertise everyday in the Straits Times and god knows where else ... just the Straits Times ads alone 4 cm x 4 Columns at S$41.38 per column cm = $662 per day.

One month is approximately $20,000.

Their business volume must be quite big to sustain that kind of operating costs.

[Unregistered]

Maid agents earn big bucks ok!

Look at those big ones like "Nation" and "Advance Link" who have been around for years.

They advertise everyday in the Straits Times and god knows where else ... just the Straits Times ads alone 4 cm x 4 Columns at S$41.38 per column cm = $662 per day.

One month is approximately $20,000.

Their business volume must be quite big to sustain that kind of operating costs.

Many also open and closed

[Unregistered]

I bet wit u tis writer is in a maid agent. every words he use involved maids, grapes, dog, foreigner etc.,
Different person lah you fool!

[Unregistered]

Rent rate going up? R U kidding me?? How come so many TOPed units blank blank like ghost house.
Many people are renting HDB lah. That the causes of rise.

[Unregistered]

Singapore doesn't have so many people - 4.5 million is much lower than any major city. In fact, Singapore is no. 35 globally. The govt. wants to increase it to 6+ million, but its not that easy. HK is 7.5+M

As for land, HK is hilly, therefore difficult to build on. Singapore is flat.
Singapore still has a lot of available land to build on. Whole areas of Pasir Ris, Senkang and Punggol are available. Woodlands is mostly empty, same for many other places on the north-south line. The story is similar in the west side (Boon Lay etc.)

There is place for growth.

If your friend is talking from a 20 year perspective, then we could agree with him. In the short term - 1 to 4 years from now, there is ample supply in the market + space available for more expansion to take care of the demand.



Yes, singapore only managed to rise its population by 500k. From 4m to 4.5m.
Still far below target of 6.5m ithink.

Futhermore did you notice at kopitiam a lot of old uncle and auntie with only a few years left??
If you notice ah, many you know old people here.
If they are gone, sorry for that, The population back to 4 m. LOL

[Unregistered]

Its really a pity why Singaporeans must judge a person from outside.

I have witness myself on many occasions where

1) 1 uncle carrying a crumpled paper back wearing a singlets, shorts and old slippers, queing up at the bank and when his turn comes, he proceed to the counter and OMG!!!! stacks and stacks of $50 notes starts pouring out form the paperback. I estimated there should be at least a few hundred thousands going by the rate the poor teller counted the $$$$.

2) Another interesting observation at C&C where I kapo and followed by boss who wanted to test drive the latest Merc. A mid 50s man, wearing a simple T-shirt with old jeans and slippers was wondering around the showroom and I overheard him telling the salesman that he wants to pay cash in full for their top range model.

Moral of the story is, we can never judge the book by the cover. Those wear like going to receive Academy awards are really those with no $$$$.

[Unregistered]

My suggestion to all ppty owners is to continue to hold your units. Don't let go easily. It comes to a point very soon that ppl will start to realize that in order to preserve their assets value is to invest in ppty to hedge the monster inflation that looming into Asia.

Mark my words, Singapore ppty prices will continue to appreciate and double in a year or two.

I strongly believe that there are at least two more sharp increase in our ppty prices as we experienced in 2007 before it eventually stabilizes.

One will definitely happen in this year. And the other one should be taking place in between 2010 and 2011.

[Unregistered]

I strongly believe that there are at least two more sharp increase in our ppty prices as we experienced in 2007 before it eventually stabilizes.

One will definitely happen in this year. And the other one should be taking place in between 2010 and 2011.

DREAMLAND, PERSON LIVING IN DENIAL MODE. WAKE UP MAN!!!!!! DUN GET URSELF KILLED IS GOD BLESSING ALREADY SOMEMORE WAN SHARP INCREASE.
THE MORE SHAPPER THE MORE PAIN.

[Unregistered]

Rent rate going up? R U kidding me?? How come so many TOPed units blank blank like ghost house.
Many people are renting HDB lah. That the causes of rise.
Wah! Why accused him of lying?
The news said so - not him. He is the echo of the news.

[Unregistered]

Wah! Why accused him of lying?
The news said so - not him. He is the echo of the news.
The same news have just received another echo.

[Unregistered]

The same news have just received another echo.
Yup! This news will keeping echoing for the next few years.

[Unregistered]

DREAMLAND, PERSON LIVING IN DENIAL MODE. WAKE UP MAN!!!!!! DUN GET URSELF KILLED IS GOD BLESSING ALREADY SOMEMORE WAN SHARP INCREASE.
THE MORE SHAPPER THE MORE PAIN.
OK lah.
The sharper the rise, the sharper the pain.
True but the pain is on the other party - not on yourself.

[Unregistered]

I strongly believe that there are at least two more sharp increase in our ppty prices as we experienced in 2007 before it eventually stabilizes.

One will definitely happen in this year. And the other one should be taking place in between 2010 and 2011.


AGREED: the next jump would be in the last quarter with many Malaysian property owners adding in the fray!

[Unregistered]

March Jobs Report Likely To Fuel Recession Worries

CNBC.com With Wires | 03 Apr 2008 | 03:42 PM ET

Investors will be closely watching Friday's employment report for further signs that the US economy is slipping into a recession.

Economists expect the report to show the economy shed a total of 60,000 jobs in March after losing 63,000 the month before. The unemployment rate, meanwhile, is expected to rise to 5.0 percent from 4.8 percent.

Worries about the jobs report grew after government data on Thursday showed that the number of U.S. workers applying for unemployment benefits soared by 38,000 last week, posting the highest reading since September 2005.

Analysts fear a housing slump and credit crunch may have tipped the U.S. economy into recession and are scrutinizing the labor market for evidence of slackening jobs that could chill consumer spending.

Federal Reserve Chairman Ben Bernanke warned on Wednesday that unemployment would push up as the U.S. economy slowed in the first half of the year.

The Fed has slashed interest rates 3 percentage points since mid-September to shield the economy from the housing slump and investors think it will cut again at its next scheduled policy meeting, at the end of this month.

But Bernanke hinted on Thursday that further rate cuts may not be needed.

"Further actions will have to depend on how the economy evolves," Bernanke told a U.S. Senate Banking Committee hearing on the rescue of troubled investment bank Bear Stearns. "We are looking of course at both sides of our mandate, growth and inflation."

Interest rate futures contracts currently imply investors fully expect the Fed will cut by a quarter percentage point, to 2.0 percent, at its next scheduled policy meeting, on April 29-30.

But they give only a 20 percent chance the Fed would cut by a steeper 50 basis points, which is less than earlier this week.

Bernanke also stressed Thursday that the Fed was uncomfortable with the current high levels of inflation, while arguing that these pressures should abate in the months ahead.

"The primary reason for the high inflation is rapid increases in the price of globally traded commodities, including crude oil and food," he said.

Economists polled by Reuters had expected initial jobless claims to increase to 370,000 in the week ending March 29, compared with 369,000 the prior week, initially estimated at 366,000 claims.

The four-week moving average of new claims, a more reliable guide to underlying labor market trends because it smooths out weekly data swings, also increased sharply. It rose to 374,500, which was the highest reading since October 2005.

In further evidence of soft labor conditions. The number of workers remaining on jobless benefits climbed 97,000 to 2.94 million in the week ending March 22, the most recent week these figures were available. This compared with forecasts for 2.87 million so-called continued claims.

It was the highest reading for continued claims since July 2004.

"The trend is for rising unemployment. There's no doubt about it," said Joe Saluzzi, co-manager of trading at Themis Trading in Chatham, New Jersey. "I've been bearish for a long time and I don't think we have found a bottom."

Meanwhile, a separate report showed the US service sector, which makes up 80 percent of U.S. economic activity, contracted less than expected in March, but overall activity for the month still shrank.

A Labor Department official said there were no special factors to explain the increase in initial claims to 407,000 in the week ended March 29, but he said seasonal adjustments to the data owing to the early timing of the Easter public holiday this year may have influenced the reading.

"Part of what is going on is seasonal adjustments and part of it is higher claims," said the Labor

[Unregistered]

Its really a pity why Singaporeans must judge a person from outside.

I have witness myself on many occasions where

1) 1 uncle carrying a crumpled paper back wearing a singlets, shorts and old slippers, queing up at the bank and when his turn comes, he proceed to the counter and OMG!!!! stacks and stacks of $50 notes starts pouring out form the paperback. I estimated there should be at least a few hundred thousands going by the rate the poor teller counted the $$$$.

2) Another interesting observation at C&C where I kapo and followed by boss who wanted to test drive the latest Merc. A mid 50s man, wearing a simple T-shirt with old jeans and slippers was wondering around the showroom and I overheard him telling the salesman that he wants to pay cash in full for their top range model.

Moral of the story is, we can never judge the book by the cover. Those wear like going to receive Academy awards are really those with no $$$$.

Yes, "empty vessel makes the most noise". Remember the move featuring the movie queen Lee Li Hwa "Love for Sale"? She was looking for a millionaire husband and Yuen Chun was a hairstylist looking for a a rich woman to marry.

So he courted her in a borrowed limo....

[Unregistered]

March Jobs Report Likely To Fuel Recession Worries

CNBC.com With Wires | 03 Apr 2008 | 03:42 PM ET

Investors will be closely watching Friday's employment report for further signs that the US economy is slipping into a recession.

Economists expect the report to show the economy shed a total of 60,000 jobs in March after losing 63,000 the month before. The unemployment rate, meanwhile, is expected to rise to 5.0 percent from 4.8 percent.

Worries about the jobs report grew after government data on Thursday showed that the number of U.S. workers applying for unemployment benefits soared by 38,000 last week, posting the highest reading since September 2005.

Analysts fear a housing slump and credit crunch may have tipped the U.S. economy into recession and are scrutinizing the labor market for evidence of slackening jobs that could chill consumer spending.

Federal Reserve Chairman Ben Bernanke warned on Wednesday that unemployment would push up as the U.S. economy slowed in the first half of the year.

The Fed has slashed interest rates 3 percentage points since mid-September to shield the economy from the housing slump and investors think it will cut again at its next scheduled policy meeting, at the end of this month.

But Bernanke hinted on Thursday that further rate cuts may not be needed.

"Further actions will have to depend on how the economy evolves," Bernanke told a U.S. Senate Banking Committee hearing on the rescue of troubled investment bank Bear Stearns. "We are looking of course at both sides of our mandate, growth and inflation."

Interest rate futures contracts currently imply investors fully expect the Fed will cut by a quarter percentage point, to 2.0 percent, at its next scheduled policy meeting, on April 29-30.

But they give only a 20 percent chance the Fed would cut by a steeper 50 basis points, which is less than earlier this week.

Bernanke also stressed Thursday that the Fed was uncomfortable with the current high levels of inflation, while arguing that these pressures should abate in the months ahead.

"The primary reason for the high inflation is rapid increases in the price of globally traded commodities, including crude oil and food," he said.

Economists polled by Reuters had expected initial jobless claims to increase to 370,000 in the week ending March 29, compared with 369,000 the prior week, initially estimated at 366,000 claims.

The four-week moving average of new claims, a more reliable guide to underlying labor market trends because it smooths out weekly data swings, also increased sharply. It rose to 374,500, which was the highest reading since October 2005.

In further evidence of soft labor conditions. The number of workers remaining on jobless benefits climbed 97,000 to 2.94 million in the week ending March 22, the most recent week these figures were available. This compared with forecasts for 2.87 million so-called continued claims.

It was the highest reading for continued claims since July 2004.

"The trend is for rising unemployment. There's no doubt about it," said Joe Saluzzi, co-manager of trading at Themis Trading in Chatham, New Jersey. "I've been bearish for a long time and I don't think we have found a bottom."

Meanwhile, a separate report showed the US service sector, which makes up 80 percent of U.S. economic activity, contracted less than expected in March, but overall activity for the month still shrank.

A Labor Department official said there were no special factors to explain the increase in initial claims to 407,000 in the week ended March 29, but he said seasonal adjustments to the data owing to the early timing of the Easter public holiday this year may have influenced the reading.

"Part of what is going on is seasonal adjustments and part of it is higher claims," said the Labor
Oh this is going to be bad. Already started here with Motorola. More will follow especially the financial companies. Rentals will drop drop. Already house owners are reducing. If you want to check go out in the market and dont rely on your agents. Atleast 20% drop since October.

[Unregistered]

AGREED: the next jump would be in the last quarter with many Malaysian property owners adding in the fray!
Yes the next jump will be when you jump into the sea when you see official reports of the tumbling prices.

[Unregistered]

Oh this is going to be bad. Already started here with Motorola. More will follow especially the financial companies. Rentals will drop drop. Already house owners are reducing. If you want to check go out in the market and dont rely on your agents. Atleast 20% drop since October.
Motorola business lost to Nokia and other competitors.
Motorola lost. Nokia and other competitors won.

Rental drop due to Motorola.
Rental surge due to Nokia and other competitors.

No difference what. What are you talking about?

[Unregistered]

Yes the next jump will be when you jump into the sea when you see official reports of the tumbling prices.

Yes, you are right.

Prices dropped by -4.2%.

Err .... dropped by -4.2% means increased by 4.2% leh.

[Unregistered]

OK lah.
The sharper the rise, the sharper the pain.
True but the pain is on the other party - not on yourself.

Oh sharper the rise sharper the pain....IS IT? Better get yourself checked by the doctor. Seems you have a problem. Did you try any pills?
True pain on the other party is emotional due to your problem.

[Unregistered]

Oh this is going to be bad. Already started here with Motorola. More will follow especially the financial companies. Rentals will drop drop. Already house owners are reducing. If you want to check go out in the market and dont rely on your agents. Atleast 20% drop since October.

Motorola business lost to Nokia and other competitors.
Motorola lost. Nokia and other competitors won.

Rental drop due to Motorola.
Rental surge due to Nokia and other competitors.

No difference what. What are you talking about?
Agree with you.

Don't know why this guy bring this Motorola retrenchment into the picture. This has nothing to do with the state of the economy.

The retrenchment is due to Motorola losing out to its rivals. Motorola's loss is its rivals' gains. Anyway, Nokia, Ericsson, etc. are also headquartered in Singapore.

[Unregistered]

OK lah.
The sharper the rise, the sharper the pain.
True but the pain is on the other party - not on yourself.
YES BROTHER WE UNDERSTAND YOUR PROBLEM. IT HAPPENS IN OLD AGE. TRY NOT TO PLAY TOO MUCH OR IF YOU HAVE TO, DONT FORGET THE MAGIC PILL.

[Unregistered]

YES BROTHER WE UNDERSTAND YOUR PROBLEM. IT HAPPENS IN OLD AGE. TRY NOT TO PLAY TOO MUCH OR IF YOU HAVE TO, DONT FORGET THE MAGIC PILL.
lol why discuss his personal problem here. what has it got to do with rentals?

[CSR Police]

YES BROTHER WE UNDERSTAND YOUR PROBLEM. IT HAPPENS IN OLD AGE. TRY NOT TO PLAY TOO MUCH OR IF YOU HAVE TO, DONT FORGET THE MAGIC PILL.
:****you: :asshole: :please-die:

[Unregistered]

Published April 1, 2008

Makeway View en bloc deal falls through

Development charge higher than expected, says buyer

By KALPANA RASHIWALA


(SINGAPORE) The $162.8 million collective sale of Makeway View in the Newton area to an associate of Bravo Building Construction has been rescinded.

BT understands that the one per cent of purchase price paid by Bravo so far has been forfeited.

A Bravo spokeswoman told BT yesterday that it had earlier sought payment extensions to ascertain the quantum of development charge (DC) payable.

Confirming the move to rescind the sale, she added: 'We decided not to proceed with the Makeway deal as the actual DC turned out to be higher than what we had been told. So the breakeven price would end up being much higher than what we expected. That's why my partner (in the proposed acquisition) decided not to proceed further.'

She confirmed that the initial information about the DC did not come from Knight Frank, which was the marketing agent representing the owners of Makeway View.

The $162.8 million deal for Makeway View announced in early November last year, reflected a unit land price of about $1,583 psf ppr including an estimated $21.5 million DC at the time.

Bravo group was one of the biggest buyers of collective sale sites last year, with deals like Tulip Garden for $516 million. Bravo formed separate associate companies for the acquisitions of the various collective sales sites, as the plan was to have different partners for each project.

A Bravo associate has so far paid the initial 5 per cent deposit on Tulip Garden, amounting to about $25 million.

Tulip Garden's collective sale was approved by STB in late February and the Bravo associate was supposed to have made the second 5 per cent payment shortly after that. However, it requested for an extension on this till early April.

Bravo's spokeswoman said her company is seeking a further extension to early June to pay this sum and to also extend the completion deadline for the deal from late May currently to early August.

'We need time to sort out an agreement with our partner and at the same time, sort out the financing arrangement.'

Tulip Garden's owners are expected to meet this weekend to decide whether to give the payment extensions. Tulip Garden's price works out to $1,018 psf per plot ratio price (no DC is payable).

Miscalculation on enbloc deals. More supply in market. Sure drop drop rentals.

[Unregistered]

IF ONLY I KNEW
WHAT AWAITED MAKEWAY AND TULIP
AND THE MANY WHO THOUGHT THEY COULD FLIP
BRAVO BRAVO EVERYONE SCREAMED
WHEN THE DEAL WAS SIGNED THEY BEAMED
ALAS SOME COUNTED CHICKS BEFORE THEY WERE HATCHED
AND SO NOW FIND THEMSELVES THOROUGHLY THRASHED

IF ONLY I KNEW
THAT ENBLOC WOULD FIZZLE OUT
AND SUPPLY IN MARKET WOULD SPROUT
I WISH I HAD SOLD IN OCTOBER
RATHER THAN NOW GO IN DEEP SLUMBER
WAKE ME UP FRIENDS WHEN BULLS KILL THE PROWLING BEAR
MAY BE 5 YEARS OR 6....BUT NOW THAT I HAVE LOST I REALLY DONT CARE.

[Unregistered]

IF ONLY I KNEW
WHAT AWAITED MAKEWAY AND TULIP
AND THE MANY WHO THOUGHT THEY COULD FLIP
BRAVO BRAVO EVERYONE SCREAMED
WHEN THE DEAL WAS SIGNED THEY BEAMED
ALAS SOME COUNTED CHICKS BEFORE THEY WERE HATCHED
AND SO NOW FIND THEMSELVES THOROUGHLY THRASHED

IF ONLY I KNEW
THAT ENBLOC WOULD FIZZLE OUT
AND SUPPLY IN MARKET WOULD SPROUT
I WISH I HAD SOLD IN OCTOBER
RATHER THAN NOW GO IN DEEP SLUMBER
WAKE ME UP FRIENDS WHEN BULLS KILL THE PROWLING BEAR
MAY BE 5 YEARS OR 6....BUT NOW THAT I HAVE LOST I REALLY DONT CARE.

If ONLY I know,

HALF THE SINGAPORE IS MINE.!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[JHJ]

If ONLY I know,

HALF THE SINGAPORE IS MINE.!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
No problem lah.
Just turn back the .....

V1
Another day is ended
And I still can't sleep
Remembering my yesterdays
I begin to weep
If I could have it over
Live my life again
I wouldn't change a single day

C
I wish that I could turn back the clock
Bring the wheels of time to stop
Back to the days when life was so much better

V2
Lying here in silence
Picture in my hand
Of a boy I still resemble
But I no longer understand
And as the tears run freely
How I realise they were the best years of my life

Repeat C

B
You might say its just
A case of giving up
No!
But without these memories where is the love?
Where is the love?

Solo

V3
If I could have it over
Live my life again
I wouldn't change a single day

Repeat C

Why can't I turn back the clock?
Bring the wheels of time to a stop
Back to the days
Oh no no!
I remember when
Life was so good
I'd go back if I could
Oh oh I wouldn't change a single day
Don't let the memories slip away
I wouldn't change a single day
Don't let the memories slip away

[Unregistered]

Agree. You can't reverse the 4.2% price increase.

[Unregistered]

Agree. You can't reverse the 4.2% price increase.
But a lot are dreaming of reversing it.

[Unregistered]

But a lot are dreaming of reversing it.
Why? Cannot dream ah?

[Unregistered]

Agree. You can't reverse the 4.2% price increase.
4.2% with 6.2% inflation is net -ve 2%. So already negative what.

[Unregistered]

4.2% with 6.2% inflation is net -ve 2%. So already negative what.
Banks give you 1% interest.
So it is still better than 1% with 6.2% inflation. That would be -ve 5.2%.

[Unregistered]

4.2% with 6.2% inflation is net -ve 2%. So already negative what.

Banks give you 1% interest.
So it is still better than 1% with 6.2% inflation. That would be -ve 5.2%.
Property is a good mean to hedge against inflation.

[Unregistered]

No problem lah.
Just turn back the .....

V1
Another day is ended
And I still can't sleep
................
................
................
I wouldn't change a single day
Don't let the memories slip away
No Johnny Hates Jazz here please!

[Unregistered]

Yes, singapore only managed to rise its population by 500k. From 4m to 4.5m.
Still far below target of 6.5m ithink.

Futhermore did you notice at kopitiam a lot of old uncle and auntie with only a few years left??
If you notice ah, many you know old people here.
If they are gone, sorry for that, The population back to 4 m. LOL
Hello!
The figure 6.5M has already taken birth and death into consideration.

[Unregistered]

Hello!
The figure 6.5M has already taken birth and death into consideration.
Seriously, that's mean need a lot of immigrants.

[Unregistered]

Singapore home sales seen slumping to 5-year lows
By Daryl Loo

SINGAPORE, March 17 (Reuters) - Singapore homes sales in February almost halved from the previous month, and could slump this quarter to the lowest since the SARS epidemic in 2003 as surging inflation and global economic fears keep buyers at bay.

The government on Monday said 170 private homes were sold in February, less than a tenth of the homes sold last August when Singapore was still in the midst of a two-year property upswing.

The abrupt slowdown this year is hitting shares for property developers but could take some pressure off inflation that is at the highest level in 25 years.
After January saw 316 homes sold, property analysts are predicting that total sales for the first three months of this year will be between 700-800 units, the weakest in five years.

"The only two other periods when the Singapore residential market experienced such low sales volume were during the SARS period in the first quarter of 2003 when 427 new homes were sold, and during the Asian financial crisis in the fourth quarter of 1997 when 894 units were sold," said Li Hiaw Ho, research director of property consultancy CB Richard Ellis.

So far the jury is out on how much the drop in demand has hit home prices. Private home prices in Singapore surged 31 percent last year to their highest in over ten years and near the peak of mid-1996 just before the Asian financial crisis.

High-end homes, typically those priced at above S$1,800 ($1,302) per square foot, saw the greatest jump, while the increase was more moderate for homes in the mass market segment.

But the price increase slowed in the fourth quarter as steps taken by the authorities to curb real estate market speculation took effect, including a move in October to bar developers from selling uncompleted homes on a deferred payment scheme.

"The sales figures for February were stunningly low... Buyers are becoming very conservative, although prices seem to have held up," said Jones Lang LaSalle research head Chua Yang Liang.

LAUNCH DELAYS

Reflecting the cautious mood, some developers have delayed their property launches, evident in the 343 units put up for sale in February, against 410 units in January and 445 in December.

KepLand, which is building the 221-unit Marina Bay Suites luxury apartments with Hong Kong Land and Cheung Kong, said in January that it would delay the project until the end of the Lunar New Year holiday in mid-February.
"We're still waiting for instructions to launch," said Margaret Thean, executive director of property agency DTZ, which has been appointed to market the project.

There have also been newspaper reports of property speculators who bought units last year with hopes of a speedy sale for a quick profit, but who are now being forced to sell at steep discounts due to the drop in demand. But it may not to be time to go bargain hunting just yet.

"While anecdotal evidence of lower transacted prices from desperate speculators looking to liquidate their positions have yet to be fully recognised by the entire market, the risk of a downward spiral effect in residential prices remains," Morgan Stanley analyst Melissa Bon said in a report this month.

"In addition, the bottoming out of private rental vacancies and likely peaking of rentals may put downward pressure on residential prices," she said.

The U.S. brokerage has downgraded CityDev to "underweight" for its exposure to the Singapore home market, and expects prices in the mid to high-end sectors to drop 15 percent this year, compared to its previous expectations for a 15 percent rise.

ABN AMRO analyst Fera Wirawan said homes catering to the mass market could still rise at least 5 percent as prices in this segment had not run up as much.

"It's all about sentiments now. Buyers are holding off in anticipation of a price cut. Even if developers refuse to decrease the price, especially in the high end, they can't hold out for long if the volumes stagnant like this," she said. (Editing by Neil Chatterjee)

Well the writing is on the wall......

[Unregistered]

Singapore home sales seen slumping to 5-year lows
By Daryl Loo
..............

Well the writing is on the wall......
Why muliplte-post your almost-3-week-old news anywhere?
Why not post a 3-month-old or 3-year-old news in all the threads?

Anyway, price increased by 4.2%. No old writing can change that.

Go post a 3-year-old news here. It may help you.

[Unregistered]

Published March 27, 2008

Residential rents seen rising further

En bloc sales and population increase caused by influx of foreigners will continue to fuel demand, writes LEONARD TAY


RESIDENTIAL rents bottomed out in 2004, recovering until 2007 when they staged an extraordinary rise, surging by more than 40 per cent within the year. This was the highest rate of increase in Urban Redevelopment Authority's private residential rental index since the index started in 1990.

And 2008 is likely to see continued strength in rentals, although growing at a more modest pace of 5-10 per cent.

Rents rose a negligible 0.2 per cent in 2004, and then a stronger 3.1 per cent in 2005, according to the URA private residential rental index. But as the residential sector recovered strongly from 2006 onwards, rental values rose more steeply.

The non-landed residential segment, which forms the bulk of the leasing market, chalked up rental growth of 15 per cent in 2006 before sky-rocketing 43.1 per cent in 2007.

A key reason for the supernormal growth in rents was the population increase as a result of immigration. Singapore's total population rose from 4,401,400 in 2006 to 4,588,600 in 2007, an addition of 187,200, of which Singapore residents made up 57,200 while foreigners constituted 130,000. This is a 14.8 per cent rise year-on-year and is the largest increase in the number of foreigners seen in over seven years. The foreign population refers to professionals, workers, students and their family members. This is the first time the total has crossed the one-million mark. The increase in 2006 was 9.7 per cent.

Main attractions

The positive run in the economy, growth prospects for the country and an attractive living environment brought many here, leading to the surge in demand for housing accommodation. The foreigners chose Singapore because of the job opportunities here and its connectivity to other major cities in Asia. Generally, they formed the bulk of the tenant pool and the prime districts (Orchard, Holland and Bukit Timah areas) were their favourite locations. However, due to the recent escalating rents, more expatriates have opted to move out of the prime districts for cheaper accommodation elsewhere. Some have even gone ahead to buy their own homes instead of renting.

The swelling demand was further fuelled by the number of residential projects that were sold on the collective sale market. A number of displaced home owners have rented in the interim while waiting for their new replacement homes to be completed.

While rents have increased islandwide, some regions are ahead of the pack. Rents in the Core Central Region (districts 9, 10, 11, Downtown Core and Sentosa) lead the market with a median rent of $3.86 per sq ft per month, going by URA's median rent numbers at end-2007. This is followed by the Rest of Central Region with a median rent of $2.74 psf per month and the areas Outside of Central Region with a median rent of $2.01 psf per month.

Using CBRE Research's basket of properties for the luxury, prime and island-wide segments of the leasing market, average rents have reached even higher levels. The average rent for luxury residences ended 2007 at $6.10 psf per month, having risen 36 per cent during the year. Properties in this luxury class include the top 10 to 15 completed condominiums located in the prestigious areas around Orchard Road.

Average rents for prime residential properties were $4.50 psf per month, having increased by 55 per cent in 2007, while islandwide rents were $2.65 psf per month, after rising 33 per cent in the same period.

As rentals at prime and popular locations become more expensive, both local and foreign residents have been moving further out; first to the city fringe and eventually along the east-west axis of the MRT lines to the suburban areas. A comparison of non-landed median rents from the URA's Realis system in December 2006 and December 2007 shows that the most significant increases have not been restricted to the central areas, but have been seen in the eastern and western parts of the island.

It should be noted that although districts 9 and 10 remain the most popular among expatriates, these districts have a range of old and new residences, leading to a relatively lower median rent compared with those in district 4. The residential landscape in district 4 (Telok Blangah/Harbourfront) is generally more homogenous and comprises newer developments that can fetch a premium.

Outlook for 2008

The leasing market is expected to remain firm in 2008 and rents will continue to rise, albeit at a more moderate pace in line with the less aggressive growth projected for the economy. The same phenomenon experienced in 2007 will continue into 2008 as fringe and suburban areas become more sought after by occupiers who find the higher rents in the prime central areas prohibitive. The spillover from the central area would cause rents to rise in other parts of the island and lead to overall growth in the leasing market.

At the same time, as Singapore continues to attract the well-heeled from around the world, rents for luxury and city living condominiums in the popular areas around Orchard Road and the CBD will continue to move upwards. Average residential rents are expected to increase by about 5-10 per cent this year.

Leonard Tay is a director of CBRE Research
Writer should have also mentioned Jurong, Paya Lebar, Kallang, Punggol and the Southern Ridges in his article. This will be more complete.

[Unregistered]

Writer should have also mentioned Jurong, Paya Lebar, Kallang, Punggol and the Southern Ridges in his article. This will be more complete.

Yes read what Reuters says about rental....


Singapore home sales seen slumping to 5-year lows
By Daryl Loo

SINGAPORE, March 17 (Reuters) - Singapore homes sales in February almost halved from the previous month, and could slump this quarter to the lowest since the SARS epidemic in 2003 as surging inflation and global economic fears keep buyers at bay.

The government on Monday said 170 private homes were sold in February, less than a tenth of the homes sold last August when Singapore was still in the midst of a two-year property upswing.
....................................................................

"The only two other periods when the Singapore residential market experienced such low sales volume were during the SARS period in the first quarter of 2003 when 427 new homes were sold, and during the Asian financial crisis in the fourth quarter of 1997 when 894 units were sold," said Li Hiaw Ho, research director of property consultancy CB Richard Ellis.

.................................................................

There have also been newspaper reports of property speculators who bought units last year with hopes of a speedy sale for a quick profit, but who are now being forced to sell at steep discounts due to the drop in demand. But it may not to be time to go bargain hunting just yet.

...........................................................

"In addition, the bottoming out of private rental vacancies and likely peaking of rentals may put downward pressure on residential prices," she said.

...............................................................
"It's all about sentiments now. Buyers are holding off in anticipation of a price cut. Even if developers refuse to decrease the price, especially in the high end, they can't hold out for long if the volumes stagnant like this," she said. (Editing by Neil Chatterjee)

[Unregistered]

Singapore home sales seen slumping to 5-year lows
By Daryl Loo
..............

Yes read what Reuters says about rental....
Hey born loser!

Why muliplte-post your 3-week-old news anywhere?
Why not post a 3-month-old or 3-year-old news in all the threads?

Anyway, price increased by 4.2%. No old writing can change that.

Go post a 3-year-old news here. It may help you, loser!

[Unregistered]

Hey born loser!

Why muliplte-post your 3-week-old news anywhere?
Why not post a 3-month-old or 3-year-old news in all the threads?

Anyway, price increased by 4.2%. No old writing can change that.

Go post a 3-year-old news here. It may help you, loser!
Now he post a 3-week-old news.
Next week he will post a 3-month-old news.
Next month he will post a 3-year-old news.
Next year he will post a 30-year-old news.

Who ask that URA price index to move up in Q1? Otherwise, he would post recent news.

[Unregistered]

HDB And Private Property Prices Up In Q1
Channel NewsAsia
01 April 2008 1345 hrs

Private residential property prices in Singapore rose 4.2% in the first quarter this year, according to the latest preliminary estimates from the Urban Redevelopment Authority.

The pace was slower than the 6.8% clip recorded in the fourth quarter of last year.

On a quarter-on-quarter basis, the biggest rise in property prices for non-landed properties came from outside central region - up 4.8% in the January-March quarter compared with the October-December period.

Properties in the prime districts of 9, 10 and 11, as well as the downtown area and Sentosa, rose 4.4% on quarter.

Prices in the rest of the central region increased 3.9% in the first quarter from the previous three months.

The preliminary estimates were based on transaction prices given in caveats lodged during the first 10 weeks of the quarter, as well as the number of new units sold.

Meantime, the Housing and Development Board (HDB) said prices of HDB resale flats rose 3.4% in the January to March period over the previous three months. This was lower than the 5.7% increase in the fourth quarter.

Both the URA and HDB will release final figures at the end of April.

The URA said that as at 4th Quarter 2007, there are about 64,900 private residential units in the pipeline, of which about 56,100 new private housing units are expected to be completed between 2008 and 2011.

There are also some 38,300 units that have yet to be put on sale by developers.

As for the supply of government flats, the HDB said it had made available in the first quarter of this year some 1,100 new flats in two Build-To-Order (BTO) projects in Punggol and Yishun.

It said that depending on demand, there could be another 5,000 new BTO flats in towns such as Punggol, Sengkang, Woodlands and Bukit Panjang.

The total planned BTO supply of 6,100 new flats for January till September 2008 will surpass the annual BTO flat supply in 2007 and 2006.

This new supply of flats will be in addition to those offered under Balloting Exercises for surplus replacement SERS and other flats, as well as the planned release of three Design-and-Build sites in Simei, Toa Payoh and Bedok with some 1,500 flats in the first half of 2008.
Rents rising further. Prices also rising further. What a way into 2008!

[Unregistered]

HDB and private property prices up in Q1 flash estimates
Channel NewsAsia
01 April 2008 1345 hrs

Private residential property prices in Singapore rose 4.2 percent in the first quarter this year, according to the latest preliminary estimates from the Urban Redevelopment Authority.

The pace was slower than the 6.8 percent clip recorded in the fourth quarter of last year.

On a quarter-on-quarter basis, the biggest rise in property prices for non-landed properties came from outside central region - up 4.8 percent in the January-March quarter compared with the October-December period.

Properties in the prime districts of 9, 10 and 11, as well as the downtown area and Sentosa, rose 4.4 percent on quarter.

Prices in the rest of the central region increased 3.9 percent in the first quarter from the previous three months.

The preliminary estimates were based on transaction prices given in caveats lodged during the first 10 weeks of the quarter, as well as the number of new units sold.

Meantime, the Housing and Development Board (HDB) said prices of HDB resale flats rose 3.4 percent in the January to March period over the previous three months. This was lower than the 5.7 percent increase in the fourth quarter.

Both the URA and HDB will release final figures at the end of April.

The URA said that as at 4th Quarter 2007, there are about 64,900 private residential units in the pipeline, of which about 56,100 new private housing units are expected to be completed between 2008 and 2011.

There are also some 38,300 units that have yet to be put on sale by developers.

As for the supply of government flats, the HDB said it had made available in the first quarter of this year some 1,100 new flats in two Build-To-Order (BTO) projects in Punggol and Yishun.

It said that depending on demand, there could be another 5,000 new BTO flats in towns such as Punggol, Sengkang, Woodlands and Bukit Panjang.

The total planned BTO supply of 6,100 new flats for January till September 2008 will surpass the annual BTO flat supply in 2007 and 2006.

This new supply of flats will be in addition to those offered under Balloting Exercises for surplus replacement SERS and other flats, as well as the planned release of three Design-and-Build sites in Simei, Toa Payoh and Bedok with some 1,500 flats in the first half of 2008.

Rents rising further. Prices also rising further. What a way into 2008!
Now IMF also says US will have growth of 0.5%.
Swe liao lor!

[Unregistered]

Now IMF also says US will have growth of 0.5%.
Swee liao lor!
Yes. Just hang on.

http://l.yimg.com/us.yimg.com/i/us/nws/p/reuters_logo_94.png
Subprime spells gloom, not doom, for Asia banks
Reuters
Singapore and Tokyo, Japan
Friday, 4 April 2008

Investors may have a nervous eye on Asia after the subprime crisis tore through the United States and Europe, but while the region's banks will see losses on risky investments, they won't be facing doomsday.

Investors have punished Asian financial stocks, concerned that somewhere in the region a big bank may be at the edge of collapse. Yet lenders are unlikely to be lacerated by the losses that hit UBS, Bear Stearns, Merrill Lynch and others, analysts say.

Investments related to troubled United States housing loans have cost global financial institutions as much as US$215 billion (S$298 billion) as of December, but less than 7% of that has come in Asia, according to estimates by Japan's regulatory Financial Services Agency.

'They are nowhere near as embroiled as the large US and European banks,' said Mr Jason Rogers, a credit analyst at Barclays Capital in Singapore who looks at banks across Asia.

'Their exposure mainly comes through their investment portfolios, as opposed to part of their core business. They were not in the practice of slicing and dicing and underwriting the US RMBS-type products,' he said.

Mr Rogers said Mizuho Financial Group was one of the only Asian banks to attempt to arrange products such as residential mortgage-backed securities (RMBS).

RMBSs and other structured instruments such as collateralised debt obligations are securities backed by a pool of loans or bonds with differing risk profiles but which plunged in value when the US housing market tanked.

Mizuho, Japan's second-largest lender, is now one of the region's biggest subprime casualties, so far reporting 345 billion yen (S$4.6 billion) in losses. Still, that's just a sliver of the US$37.4 billion written down by UBS and Merrill's US$24 billion write-down.

Mizuho expects to report a net profit of 480 billion yen for the year that ended in March. By contrast, UBS reported on Tuesday a net loss of US$12 billion for the first quarter alone.

Merrill has turned to outside assistance for capital relief, including a US$1.2 billion injection from Mizuho.

Watching exposure
Asian banks rated by Standard & Poor's have a total exposure of about US$34 billion to structured instruments, reckons Mr Ritesh Maheshwari, a credit analyst with the ratings agency.

'Considering that the total shareholder equity of these banks is nearly 10 times this amount, the likely write-downs can be easily absorbed,' Mr Maheshwari said in a note to clients.

Japan's subprime-related exposure is estimated at 1.5 trillion yen by the Financial Services Agency, less than half of what UBS has so far written down.

Yet investors remain largely unconvinced. Tokyo's banking index has fallen 30% in the last 12 months, and Singapore's index of financial stocks is off about 11%.

Both have fared worse than their broader markets.

Shares of Bank of China have fallen about 11% over the same period while the FTSE index of global banks has lost about 18%.

Bank of China, so far the hardest hit among big Chinese banks, said it held US$5 billion worth of asset-backed securities that were related to the subprime market.

A lot of investor frustration is due to poor disclosure, because Asian banks don't need to be as precise as their US rivals when revealing subprime holdings, said Ms Kristine Li, banking analyst at KBC Securities in Tokyo.

'Many banks say, 'We have this much in RMBS, but they are all triple-A rated so it's safe'. What do you say? You don't know if it's safe or not,' Ms Li said.

Just holding on
Some banks, such as Tokyo's Mizuho have been aggressive about marking down their holdings, while others, such as Mitsubishi UFJ Financial Group are taking a wait-and-see approach, said Mr Graeme Knowd, banking analyst for CLSA Asia-Pacific Markets in Tokyo.

Mr Knowd is particularly cautious about MUFG, Japan's largest bank.

'When the problem moves from subprime to just other stuff, they have more than anyone else (in Japan),' he said, referring to an estimated 3 trillion yen parked in structured credit products outside of Japan.

And thanks to the subprime-inspired market downturn, even lenders with no direct exposure to US mortgage products are being squeezed.

Resona Holdings, Japan's fourth-largest bank, said it would miss its fourth-quarter revenue target due to worse-than-expected sales of investment trusts.

The bank, which relies heavily on its retail operations, said sales of investment trusts - products similar to mutual funds - fell about 40% in February due to poor market performance.

At a recent news conference, the bank's chairman, Mr Eiji Hosoya, might have been speaking for banks across the region when he made a glum prediction.

'The next business year will likely be even tougher.'

[Unregistered]

Interesting analysis from Singapore expat forum. What do you guys say? Any views?



Quote:
Originally Posted by Unregistered
Posted: Sat Mar 29, 2008 8:54 pm Post subject: Singapore Property Going Down The Tubes?

--------------------------------------------------------------------------------

I sent my buddy an e-mail asking if it was a good time to buy property in Singapore...

He's a Hong Kong based Asia property analyst for a small successful private investment bank.
He sent me this....(don't shoot me, I'm just the messenger.)

Quote:
Well...I would wait at least another 6 months to a year.

We told clients and investors to sell all Singapore holdings (property, stocks and everything else) in June 2007. We determined that prices would never, ever be higher and were predicting a 15% drop in pricing by March 2008 and 25% drop by June 2008.

Rationale was simple and not rocket science.

#1. There was no demand for housing when the boom started.
The vacancy rates on existing housing were above New York, London, Hong Kong, Tokyo and other major urban market levels. A Singapore property boom made no sense at all.

#2. Singapore GDP...nice impressive numbers. But the growth was 99% construction related. There is no economic growth when the construction boom ends and those numbers are subtracted from the total.

#3. The existing luxury housing vacancy levels in Singapore were adequate to fill the needs of Singaporeans and any possible influx of new senior executives for the next 5 years. Thus, there was no demand for executive luxury housing in the market.

#4. Value for money on Singapore property for foreign investors is not good when compared to other projected growth economies. (several factors are weighed including psf, quality of workmanship, size of economy, projected growth of economy, lifestyle and culture of the market.)

#4. The targeted future population numbers of Singapore are pie in the sky and completely without substance. Singaporeans are not having kids and the demand for jobs in Singapore will be service led lower paying jobs to supply the planned tourism developments. Non of these new inhabitants will be buying or renting condo's, especially in the high-end. And tourists visit, they don't buy or rent.

#5. Singapore is not a supply/demand driven economy. It is a small, managed economy. Thus, the property development plans were lofty, risky, and not based on future real supply/demand realities.

#6. There is a lack of real, transparent, objective information available in the Singapore market about the Singapore market. This leads to investors belief in hype and speculation rather than economic principles.

#7. Global money supplies and markets are taking a beating and will continue to take a beating. The second call on the sub prime products happens this June so more big losses are expected. This will stall or even damage the Singapore economy.

We expect distress sales in the property market to start soon. The high-end rental market is non-existent and the higher % of all unit sales were high-end investment property, speculator driven.
These buyers need "wealthy" renters to subsidize the million dollar mortgages. Most locals cannot afford the rents the market is demanding.
Surveys of multinational companies and banks have indicated that there is no boat-load of expats with a big housing allowance arriving at the Singapore port anytime soon. The new owner is now stuck with 100% of a very expensive monthly mortgage.

Here is an example of one major high-end development I'm following to prove the point. These are some very telling numbers.
600+ units launched
20+ remaining at $2,000 per square foot via the developer.
100+ units previously sold are now for sale privately less than 7 months after launch for $1,300 to $1,600 per square foot.
The reason...no rental income.
That tells me that property owners are willing to admit that market prices are down 25%+ already. Unfortunately, even at a 25% discount, there are no buyers.

Existing Singapore residents are keeping the rental market buoyant due to the fact they sold their old places and are waiting for the prices to drop...OR...waiting for their new unit to be completed. These people are relatively small in overall numbers and definitely not going to rent high end luxury units. They are driving HDB, middle priced housing rents up right now. They are also demanding 12 month leases or even less if they can get it proving that they are waiting to move or sitting on the sidelines waiting for prices to drop.

The Singapore property market is massively oversupplied today and more units are on the way. This is not good. This is should be extremely troublesome to anyone who owns property anywhere in that market. The potential valuation losses in the property market could be enormous, especially at the high-end. Overall prices could sink well below SARS levels and this could happen within 6 months to a year.

The short lived property boom was very much like a pyramid scheme.
It was all hype and no substance.
The first guys in are now smoking big cigars.
The last guys in are now left holding the ashtray.

++++++++++++++++++++++++++++++++++++
Excellent post and thanks for this , I am cancelling my plans to buy property this year!!!!!!!

I HAVE CANCELLED MY PLANS TOO. SOON CAN GET 40% LOWER.

[Unregistered]

I HAVE CANCELLED MY PLANS TOO. SOON CAN GET 40% LOWER.

Ask him F**k off. Dun ever step into Singapore.

[Unregistered]

Economy Loses 80,000 Jobs, Worse Than Expected
By Reuters | 04 Apr 2008 | 08:32 AM ET

US employers cut payrolls for a third month in a row in March, slashing 80,000 jobs for the biggest monthly job decline in five years as the economy headed into a downturn, government data on Friday showed.


The Labor Department revised the first two months of the year's job losses to a total of 52,000 from a previous estimate of 85,000. The March unemployment rate jumped to 5.1 percent from 4.8 percent, the highest since a matching rate in September 2005.

The March job report was more bleak than expected.

Economists polled ahead of the report forecast a decline of 60,000 in non-farm payrolls and a rise in the unemployment rate to 5 percent.

"It's not a good number, clearly," said David Bianco, chief US equity strategist at UBS. "But the market has been braced for a bad number. Almost every investor equity and otherwise would acknowledge that we are in a recession but we still think it is a mild recession and we are going to have pretty good profit conditions in the S&P 500 for this quarter and for the rest of the year."

During the first quarter of this year job losses averaged 77,000 a month, compared to average monthly gains of 76,000 in the last half of 2007, according to Keith Hall, Bureau of Labor Statistics Commissioner.

Job losses were widespread during the month, with the biggest losses in the construction and manufacturing sectors.