View Full Version : Cheap OCR homes lure foreign buyers to Singapore
http://sbr.com.sg/residential-property/news/chart-day-cheap-ocr-homes-lure-foreign-buyers-singapore
Chart of the Day: Cheap OCR homes lure foreign buyers to Singapore
RESIDENTIAL PROPERTY | Staff Reporter, Singapore
Published: 10 Dec 15
http://sbr.com.sg/sites/default/files/imagecache/600x360/news/chart-foreign-property-buying-singapore.PNG
Homes under $1m are in great demand.
Cheap homes in outlying regions continue to hold allure for foreign buyers looking to snap up a home in Singapore.
Data from DTZ show that the number of foreigner home purchases below $1.0m continued to trend upwards, as opposed to properties under other price bands.
The volume of transactions by foreigners for properties priced between $0.5 million to $1.0 million rose by 58.5% in the first nine months of 2015.
In contrast, properties priced between $1.0 million and $2.0 million observed a 12.0% drop in foreign purchasers over the same period.
In the third quarter, the number of foreign purchasers fell across the Core Central Region (CCR) and the Rest of Central Region (RCR) by 38.1% and 23.9% q-o-q.
In contrast, the OCR market segment was more resilient with sales falling by 11% q-o-q in Q3 2015.
“The narrowing price gap between buyers and sellers for projects in OCR attributed to the moderated decline. Besides being more affordable, most of the OCR projects are proximate to the new MRT stations on the upcoming Downtown and East CoastThomson Lines, which will offer faster access to the Central Business District,” the report said.
Is it any wonder why cooling measures have no effect on OCR properties?
Didn't I say before?
So now confirmed foreigners are helping to push up and maintain OCR private property prices, doing a disservice to the so-called "cooling measures" and to genuine Singapore citizens who desire to upgrade from HDB flats to private properties but now can't because OCR private property prices bearly drop at all.....
As usual, looks like no action will be taken?
Is it because most govt land are in OCR and the GLS land are also mostly in OCR? :hopelessness:
http://sbr.com.sg/residential-property/news/chart-day-cheap-ocr-homes-lure-foreign-buyers-singapore
Chart of the Day: Cheap OCR homes lure foreign buyers to Singapore
RESIDENTIAL PROPERTY | Staff Reporter, Singapore
Published: 10 Dec 15
http://sbr.com.sg/sites/default/files/imagecache/600x360/news/chart-foreign-property-buying-singapore.PNG
Homes under $1m are in great demand.
Cheap homes in outlying regions continue to hold allure for foreign buyers looking to snap up a home in Singapore.
Data from DTZ show that the number of foreigner home purchases below $1.0m continued to trend upwards, as opposed to properties under other price bands.
The volume of transactions by foreigners for properties priced between $0.5 million to $1.0 million rose by 58.5% in the first nine months of 2015.
In contrast, properties priced between $1.0 million and $2.0 million observed a 12.0% drop in foreign purchasers over the same period.
In the third quarter, the number of foreign purchasers fell across the Core Central Region (CCR) and the Rest of Central Region (RCR) by 38.1% and 23.9% q-o-q.
In contrast, the OCR market segment was more resilient with sales falling by 11% q-o-q in Q3 2015.
“The narrowing price gap between buyers and sellers for projects in OCR attributed to the moderated decline. Besides being more affordable, most of the OCR projects are proximate to the new MRT stations on the upcoming Downtown and East CoastThomson Lines, which will offer faster access to the Central Business District,” the report said.
Mr Bear, are you saying foreigners do not have anything to do with CCR or RCR properties?
OCR upgrade is still very possible at the moment.
As the roads become less jammed and public transport further improves with the obvious shift towards buses, OCR appeal can only get stronger over time.
Is it any wonder why cooling measures have no effect on OCR properties?
Didn't I say before?
So now confirmed foreigners are helping to push up and maintain OCR private property prices, doing a disservice to the so-called "cooling measures" and to genuine Singapore citizens who desire to upgrade from HDB flats to private properties but now can't because OCR private property prices bearly drop at all.....
As usual, looks like no action will be taken?
Is it because most govt land are in OCR and the GLS land are also mostly in OCR? :hopelessness:
Confirm OCR is being actively marketed to overseas buyers. I often get this massage from agents:
Seperti di Singapore 3 BR ada yg harganya 1,1jt-an SGD TERMASUK STAMP DUTY..
In the past the top "pull up" the bottom. Now the bottom "push up" the top.
From market data, it is clear that many foreigners are buying OCR properties, thus OCR property prices are NOT feeling the effect of the govt's property cooling measures.
So, the question is: Is the govt's property cooling measures meant to cool property prices?
Is yes, then they have failed terribly in OCR.
So, the next question is: Does the govt has genuine intention to cool OCR property prices to allow >70% Singapore citizens who live in HDB flats to afford and upgrade to OCR private properties?
If there is genuine intention, then why no action despite the failure?
So far what they have achieved is continuous stream of money into pocket via ABSD since OCR private property buying by foreigners is a huge number now.......
So far, the action does not tally with words of intention given the new fact we know............
Mr Bear, are you saying foreigners do not have anything to do with CCR or RCR properties?
OCR upgrade is still very possible at the moment.
As the roads become less jammed and public transport further improves with the obvious shift towards buses, OCR appeal can only get stronger over time.
Many HDBs are already clearing the 1mil benchmark. OCR performance is already very poor in comparison.
Remember, it's a Cooling measure, not a freezing measure.
From market data, it is clear that many foreigners are buying OCR properties, thus OCR property prices are NOT feeling the effect of the govt's property cooling measures.
So, the question is: Is the govt's property cooling measures meant to cool property prices?
Is yes, then they have failed terribly in OCR.
So, the next question is: Does the govt has genuine intention to cool OCR property prices to allow >70% Singapore citizens who live in HDB flats to afford and upgrade to OCR private properties?
If there is genuine intention, then why no action despite the failure?
So far what they have achieved is continuous stream of money into pocket via ABSD since OCR private property buying by foreigners is a huge number now.......
So far, the action does not tally with words of intention given the new fact we know............
Really?
Then what you said is not in line with what the government said!
According to the government, property price cooling measures are implemented because they are needed for both HDB and private properties!
According to MAS recently, property prices have in general cooled, except OCR private property prices, which continue to persisting at such high prices and is a concern, and they are keeping a close watch.
But then, they have been watching for a long time still no action?
So will their action ultimately tally with their words? :cutedoggy:
Many HDBs are already clearing the 1mil benchmark. OCR performance is already very poor in comparison.
Remember, it's a Cooling measure, not a freezing measure.
allow >70% Singapore citizens who live in HDB flats to afford and upgrade to OCR private properties?
You know that is consider asking for the moon.
Really?
Then what you said is not in line with what the government said!
According to the government, property price cooling measures are implemented because they are needed for both HDB and private properties!
According to MAS recently, property prices have in general cooled, except OCR private property prices, which continue to persisting at such high prices and is a concern, and they are keeping a close watch.
But then, they have been watching for a long time still no action?
So will their action ultimately tally with their words? :cutedoggy:
There are confusions on the market at the moment. Are they going up or down? Even the strength of the USD and the collapse of oil is confusing. Can it be the sign of US market strength or early stage of collapse?.
I think futures oil contracts denominated in dollar are being liquidated, therefore pushing down oil price. As the process of winding down dollar denominated future oil contract is going on, the demand for USD is increasing.
The Saudi knew that limiting output is not going to raise the oil price. So they just keep pumping to the max. It just the petro dollar era is ending. Oil price has always been inflated to keep USD high in demand. Now as USD losing its influence, oil price is set to collapse.
Meanwhile in SG, cooling measure is implemented to prevent rampant inflation. If inflation get out of control, SGD becomes worthless. For a country that rely on imports its currency must be more or less stable. I can see the cooling measures to stay for a long time. However SG property is still a superior asset to weather globat turmoil in the long term.
Inflation has already been rampant for past few years, and they are particularly so in basic necessities (like food etc)!
And what are causing these rampant inflation?
No price in guessing, not residential properties, but commercial/retail/industrial properties etc!
Business owners have been complaining their rents going up double or more!
And who are the owners of most of these properties?
No price in guessing as well!
Are there strong effective cooling measures to cool the rental of these properties?
Not that I know of (even till now), otherwise there won't be such rampant inflation......... :(
There are confusions on the market at the moment. Are they going up or down? Even the strength of the USD and the collapse of oil is confusing. Can it be the sign of US market strength or early stage of collapse?.
I think futures oil contracts denominated in dollar are being liquidated, therefore pushing down oil price. As the process of winding down dollar denominated future oil contract is going on, the demand for USD is increasing.
The Saudi knew that limiting output is not going to raise the oil price. So they just keep pumping to the max. It just the petro dollar era is ending. Oil price has always been inflated to keep USD high in demand. Now as USD losing its influence, oil price is set to collapse.
Meanwhile in SG, cooling measure is implemented to prevent rampant inflation. If inflation get out of control, SGD becomes worthless. For a country that rely on imports its currency must be more or less stable. I can see the cooling measures to stay for a long time. However SG property is still a superior asset to weather globat turmoil in the long term.
Durian drop already but how many people know.
Inflation has already been rampant for past few years, and they are particularly so in basic necessities (like food etc)!
And what are causing these rampant inflation?
No price in guessing, not residential properties, but commercial/retail/industrial properties etc!
Business owners have been complaining their rents going up double or more!
And who are the owners of most of these properties?
No price in guessing as well!
Are there strong effective cooling measures to cool the rental of these properties?
Not that I know of (even till now), otherwise there won't be such rampant inflation......... :(
What our Govt can do already done, just like FED decrease or hike rate people also cry parents. Better to work hard and smart. 国大，南大 输 给 胆大。
What our Govt can do already done, just like FED decrease or hike rate people also cry parents. Better to work hard and smart. 国大，南大 输 给 胆大。
Still the likelyhood of the FED decreasing the rate after an increase is quite high. http://z4.ifrm.com/30078/151/0/p1171050/WSJ_Interest_rate_survey.jpg
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