St REGIS: Sold for $15.8 mio loss

[gsmsimmax3]

http://mypaper.sg/top-stories/st-regis-residences-penthouse-sold-158m-loss-20150318

Wow !!
Mother of all absolute loss...

[henryhk]

Rich people won't bother one lor

[Kelonguni]

Rich people won't bother one lor

It's only 15.8 million. But it does tell you their confidence level.

[teddybear]

There is a very big repercussion here that many people don't see other than the big "$15.8M loss" for a CCR prime properties!

To me, I see that the RICH are NOW very willing to sell their properties in Singapore (despite huge loss and they have no urgency for the money) and most likely moving their S$ out of Singapore into other currencies.

the above means more downward pressure on S$!

If CCR prime properties only worth $2000 psf, those lousy rural OCR like JGateway worth $17xx psf?
Soon, OCR private condo prices will crash! may be <$1000 psf for JGateway a few years down the road? :panda:



It's only 15.8 million. But it does tell you their confidence level.

[proud owner]

IF THE RICH ARE GETTING OUT, WHAT DOES THAT SAY ABOUT PROPERTY MKT IN SINGAPORE ?


IF GOVT IS PREEMPTIVE, DO YOU THINK THEY SHOULD START TO REMOVE SOME COOLING MEASURES ? BEFORE CCR RCR OCR ALL START TO CRASH ?

[teddybear]

In a way, I have to agree with you.

But problem is, the relevant party in question who set the rules do not think this is a problem, and they just said recently that property prices (mainly OCR property prices) are still over-valued and there is no need to relax the cooling measures! :hopelessness:



IF THE RICH ARE GETTING OUT, WHAT DOES THAT SAY ABOUT PROPERTY MKT IN SINGAPORE ?


IF GOVT IS PREEMPTIVE, DO YOU THINK THEY SHOULD START TO REMOVE SOME COOLING MEASURES ? BEFORE CCR RCR OCR ALL START TO CRASH ?

[hopeful]

"Mr Tada is believed to have left the property vacant all this time. "
i believe this is the last straw for him - No more vacancy refund for unoccupied buildings.
From Tada to Nada.

& whatever happened to the recent meme?
nobody mentioned possibility his loss is reduced by his currency gains?

[proud owner]

In a way, I have to agree with you.

But problem is, the relevant party in question who set the rules do not think this is a problem, and they just said recently that property prices (mainly OCR property prices) are still over-valued and there is no need to relax the cooling measures! :hopelessness:


IT RAINS IN SINGAPORE ALL THE TIME ...

THEY DIDNT THINK IT WAS A PROBLEM ..

BUT WHEN THE STORM COMES OR WHEN IT STORMS EVERY OTHER DAY, THE STREETS FLOOD...

THEN THEY DO DAMAGE REPAIR ...

TOO LATE ..

NEVER LEARN

[hopeful]

IF THE RICH ARE GETTING OUT, WHAT DOES THAT SAY ABOUT PROPERTY MKT IN SINGAPORE ?..


but another rich is getting in.

[Kelonguni]

Relax all. This group was betting on price gain all the time and not sincere in affording the property really...

For Teddy: OCR and RCR want to crash 1.5mil also difficult or impossible, how to crash 15mil?

CCR also has good value. It depends on what we use the property for.

[Kelonguni]

but another rich is getting in.

Another rich is getting in and likely more sustainable with TDSR being met. More sincere in affording.

[teddybear]

I thought somebody said the flooding was a "once in 50 years" affair and hence no big deal and not a major problem? :boxing:

Actually times now flies very fast in Singapore, as the Chinese commonly say, "1 day in heaven is 50 years on earth", I think Singaporeans are all NOW LIVING IN HEAVEN! They should learn to be grateful that they now have a chance to live in heaven! :highly_amused:



IT RAINS IN SINGAPORE ALL THE TIME ...

THEY DIDNT THINK IT WAS A PROBLEM ..

BUT WHEN THE STORM COMES OR WHEN IT STORMS EVERY OTHER DAY, THE STREETS FLOOD...

THEN THEY DO DAMAGE REPAIR ...

TOO LATE ..

NEVER LEARN