How is the crowd at showflat today?

[star]

Likely empty? Agents swapping flies?

[Arcachon]

Likely empty? Agents swapping flies?

You interested to know can visit me at the show flat as invite.

[bargain hunter]

Likely empty? Agents swapping flies?

Stirling, Park Colonial, Riverfront Resi showflats are still full...

[bargain hunter]

https://www.facebook.com/100009470649038/videos/2103070250018643/?t=0 stirling residences

[bargain hunter]

Park Colonial yesterday: https://www.facebook.com/photo.php?fbid=10155640609769562&set=a.10151056227784562.427674.690539561&type=3

Park Colonial today: https://www.facebook.com/marvinlee.realtor/videos/10155642304114562/?t=0 14 sold since morning

[jwong71]

Many going ahead to buy, to avoid further counter measures.
Got money scared can’t buy only.
Ordinary folks hoping for cheap,
Rich folks don’t wait for opportunities, they grab opportunities.

[bargain hunter]

Many going ahead to buy, to avoid further counter measures.
Got money scared can’t buy only.
Ordinary folks hoping for cheap,
Rich folks don’t wait for opportunities, they grab opportunities.

cheap units being snapped up at riverfront. i wonder how is the sales at affinity with that 5 to 7% discount going on this weekend. either agents too busy to post or buyers prefer park colonial. haha.

[Arcachon]

cheap units being snapped up at riverfront. i wonder how is the sales at affinity with that 5 to 7% discount going on this weekend. either agents too busy to post or buyers prefer park colonial. haha.

Those miss the boat will still miss regardless got measure or no measure.

Happy for buyer, also happy for those did not buy at least those who did not buy get to tell their side of the story.

If everyone sing the same song, this world will be very boring.

[stalingrad]

Park Colonial yesterday: https://www.facebook.com/photo.php?fbid=10155640609769562&set=a.10151056227784562.427674.690539561&type=3

Park Colonial today: https://www.facebook.com/marvinlee.realtor/videos/10155642304114562/?t=0 14 sold since morning

I salute Singaporeans for their wealth and their dedication to properties regardless of the pressure put on them.

[Arcachon]

For those without Facebook account.

https://scontent.fsin3-1.fna.fbcdn.net/v/t1.0-9/36715203_10155640609774562_5374198204168404992_n.jpg?_nc_cat=0&oh=c6aaaa910192a00aabe0b0dde8db17ff&oe=5BE94D6A

<<Park Colonial D-DAY + 1.5 >>

After the announcements, buyers continue to flock to Park Colonial today (during the day) to catch up on what they had missed out.

Not surprisingly, 9 buyers took action today and bought a unit each at Park Colonial despite the property curbs. I don’t disagree with them! ��

Give me a call and find out why your should still buy Park Colonial in spite of the property curbs tmr! The number to dial is 84445555!

#ERALovesParkColonial


https://www.facebook.com/marvinlee.realtor/videos/10155642304114562/

[Xan]

For those without Facebook account.

https://scontent.fsin3-1.fna.fbcdn.net/v/t1.0-9/36715203_10155640609774562_5374198204168404992_n.jpg?_nc_cat=0&oh=c6aaaa910192a00aabe0b0dde8db17ff&oe=5BE94D6A

<<Park Colonial D-DAY + 1.5 >>

After the announcements, buyers continue to flock to Park Colonial today (during the day) to catch up on what they had missed out.

Not surprisingly, 9 buyers took action today and bought a unit each at Park Colonial despite the property curbs. I don’t disagree with them! ��

Give me a call and find out why your should still buy Park Colonial in spite of the property curbs tmr! The number to dial is 84445555!

#ERALovesParkColonial


https://www.facebook.com/marvinlee.realtor/videos/10155642304114562/

Wonder these 9 buyers is first home buyer or those subjected to 12% ABSD. If they belongs to the latter, really gotta salute them

[stalingrad]

Wonder these 9 buyers is first home buyer or those subjected to 12% ABSD. If they belongs to the latter, really gotta salute them

I think it is safe to bet they are first time buyers. Or if they were buying second properties, you have to assume they know something we don't know, like Singapore is about to discover a diamond mine in the bowels of Bukit Timah nature reserve.

[Arcachon]

Wonder these 9 buyers is first home buyer or those subjected to 12% ABSD. If they belongs to the latter, really gotta salute them

It is cheaper to pay the tax than to buy a car.

Most like PC because it is near MRT.

[Xan]

I think it is safe to bet they are first time buyers. Or if they were buying second properties, you have to assume they know something we don't know, like Singapore is about to discover a diamond mine in the bowels of Bukit Timah nature reserve.

Before the current CMs, my agent was holding 5 cheques for PC. None of them are first home buyer. This means they readily accept 7% ABSD. The situation is exactly the same when I was at park place show flat.

Well, It seems to me that when the dust is settled, it’s just a matter of time for these 2nd home buyers to continue their hunting.

[stalingrad]

Before the current CMs, my agent was holding 5 cheques for PC. None of them are first home buyer. This means they readily accept 7% ABSD. The situation is exactly the same when I was at park place show flat.

Well, It seems to me that when the dust is settled, it’s just a matter of time for these 2nd home buyers to continue their hunting.

Actually, I think the new CM will increase demand rather than reduce it. First buyers regard their first time buyer status as being more valuable after the cooling measures than before the cooling measures. So, they would flock to the showflats, and make purchases. What the cooling measures are doing is to replace the second or third-time buyers by first-time buyers. There are more first-time buyers in Singapore than multiple-time buyers.

[bargain hunter]

Wonder these 9 buyers is first home buyer or those subjected to 12% ABSD. If they belongs to the latter, really gotta salute them

and the 14 or more today...https://www.facebook.com/marvinlee.realtor/videos/10155642304114562/?t=0

[bargain hunter]

Actually, I think the new CM will increase demand rather than reduce it. First buyers regard their first time buyer status as being more valuable after the cooling measures than before the cooling measures. So, they would flock to the showflats, and make purchases. What the cooling measures are doing is to replace the second or third-time buyers by first-time buyers. There are more first-time buyers in Singapore than multiple-time buyers.

i'm very surprised but i think you are right. there are still a lot of first time buyers or genuine upgraders (willing to sell their current property once new property TOPs). this measure may actually convert some who originally were not sure if to buy 2nd property to become a landlord or to upgrade to swing firmly to become the latter.

[stalingrad]

i'm very surprised but i think you are right. there are still a lot of first time buyers or genuine upgraders (willing to sell their current property once new property TOPs). this measure may actually convert some who originally were not sure if to buy 2nd property to become a landlord or to upgrade to swing firmly to become the latter.

Yeah, it just makes economic and psychological sense. As you said, if I were a HDB owner and weren't sure I should sell my HDB and buy a condo, I would actually be more inclined to sell my HDB and buy a condo after the cooling measure than before. These are the additional demand that didn't exist before the CM.

[Xan]

There are valid reason for first home buyer to flock in and buy now knowing that their current golden status may be changed tmr in the event gahmen may tweak the CMs again in the near future. I.e reduce LTV limit, or even imposed minor ABSD for first time buyer in the private property sector.

This is true for foreigner first home buyer, Kenna slapped with additional 5% ABSD for nothing in this round of CMs. Lol

[stalingrad]

There are valid reason for first home buyer to flock in and buy now knowing that their current golden status may be changed tmr in the event gahmen may tweak the CMs again in the near future. I.e reduce LTV limit, or even imposed minor ABSD for first time buyer in the private property sector.

Exactly right. In Singapore, weather changes fast but laws change even faster.

[Xan]

Haha instead of cooling, it makes the market hotter. Lol.

[stalingrad]

Haha instead of cooling, it makes the market hotter. Lol.

Singaporeans are smart, and it will take them only a few days to figure this out.

[Xan]

i'm very surprised but i think you are right. there are still a lot of first time buyers or genuine upgraders (willing to sell their current property once new property TOPs). this measure may actually convert some who originally were not sure if to buy 2nd property to become a landlord or to upgrade to swing firmly to become the latter.

Actually no surprise. There are tons of such cases among those I know. Their HDB/EC haven’t MOP already start to negotiate with developer to defer their S&P so as to get a piece of ownership in private

[Arcachon]

The number are out, guess the MTB need to work harder to pay for the extra 5% or risk paying more.

[Xan]

While some (like property soul) continues to sing a negative tune/make YouTube videos on singapore property price/demand/policy, no matter how convincing the facts are, they failed to understand the psychological aspect of a Singaporean’s dream. This property game will never die despite so many rounds of CMs. As Long as singapore continues to position itself to be an attractive place to stay n invest, this vicious cycle continues.

[stalingrad]

Marvin Lee: Park Colonial sold 23 units today! Don’t expect discounts, do expect price increase!

[tonymontana]

It's a really nice location and this area has potential. Congrats to the new buyers of park colonial and welcome to your future neighbourhood!

[bargain hunter]

Actually no surprise. There are tons of such cases among those I know. Their HDB/EC haven’t MOP already start to negotiate with developer to defer their S&P so as to get a piece of ownership in private

to me it was just hard to estimate the numbers.

after previous cooling measures, there was usually uncertainty and pulling back initially. that's why today's reaction was unexpected for me.

[Tomutomi]

if buyer comparing park colonial to the garden residences which having around same psf, no doubt :)

[Khng8]

PC has the best value proposition among the new launch now & its priced competitively.
Affinity was much quieter today.

[bargain hunter]

PC has the best value proposition among the new launch now & its priced competitively.
Affinity was much quieter today.

Stirling also quite packed. what about riverfront? affinity despite the price cuts still not getting much traction?

[Xan]

to me it was just hard to estimate the numbers.

after previous cooling measures, there was usually uncertainty and pulling back initially. that's why today's reaction was unexpected for me.

Haha, Guess many get used to it already after so many rounds of CMs. Thus, no pulling back.
Today my fren tried to ask Developers if S&P can be delayed, affinity readily agrees and allows him to delay/re-issue by 1 year plus offering him a discount. Whereas PC gives him a straight no.

[azeoprop]

With this new cm, potential buyers will be even more strict in their choice of projects. Since paying additional tax, they will adopt a no compromise approach to their purchases. Location with good connectivity will still sell regardless of cm. Thats why garden and affinity even with discounts will not gain traction.

[azeoprop]

Cm now becomes like a barrier to entry. It's intended effect is gone and has become predictable to buyers. The general atmosphere now is if you don't buy now next time will be even more difficult to buy.

So thus encourage more buying instead.

[august]

Cm now becomes like a barrier to entry. It's intended effect is gone and has become predictable to buyers. The general atmosphere now is if you don't buy now next time will be even more difficult to buy.

So thus encourage more buying instead.

This is because we have not seen any meaningful reversing of these cooling measures but instead new measures are continually added. A healthy market that includes the resale market cannot function properly if this goes on. It has distorted the market and cycle.

[bargain hunter]

Today my fren tried to ask Developers if S&P can be delayed, affinity readily agrees and allows him to delay/re-issue by 1 year plus offering him a discount.

how does that work? that means option must still be exercised? then complete only in 1 year or can be re-issued again?

[Amber Woods]

This is because we have not seen any meaningful reversing of these cooling measures but instead new measures are continually added. A healthy market that includes the resale market cannot function properly if this goes on. It has distorted the market and cycle.

The property market is the most inefficient market which can be easily manipulated by powerful developers as in the case now. Unlike the stock market where prices rise and fall base on easily market information by the click of a button, property price is extremely inelastic with information difficult to digest or even available. Hence, government's interventions are necessary to balance market's manipulation by private developers. View in this way, it is the private developers that are distorting the market cycle.

[Xan]

how does that work? that means option must still be exercised? then complete only in 1 year or can be re-issued again?

It means otp still need to exercise, pay 5% booking fee first.
Then developer keep re-issuing S&P till 1year. For every rounds of re-issuing of S&P, there’s an admin charge of $200-$300.

[Xan]

Cm now becomes like a barrier to entry. It's intended effect is gone and has become predictable to buyers. The general atmosphere now is if you don't buy now next time will be even more difficult to buy.

So thus encourage more buying instead.

I always feel TDSR is a reasonable barrier and is enough to assess if buyer is financially over stretched.
The tightening of LTV and increasing of ABSD is just a short term deterrent which may Lead to more panic buying. If someone is willing to pay 7% ABSD in the past, what makes them think that future buyer wouldn’t pay 12% ABSD in the future? And yes, u r right, buyers will become more selective in their purchase.
All these are just increasing the dosage of painkiller w/o solving the issue.

[august]

The property market is the most inefficient market which can be easily manipulated by powerful developers as in the case now. Unlike the stock market where prices rise and fall base on easily market information by the click of a button, property price is extremely inelastic with information difficult to digest or even available. Hence, government's interventions are necessary to balance market's manipulation by private developers. View in this way, it is the private developers that are distorting the market cycle.

The Govt is the one manipulating the market. Developers are in no position to do so and are at the mercy of the Govt. It is very obvious.

[Xan]

Developer has to adjust and chub pattern in order to survive under all the rulings.
They don’t manipulate the market.

[bargain hunter]

https://www.facebook.com/photo.php?fbid=10156438221541171&set=a.10151010128426171.486000.706516170&type=3&theater

still crowded today.

[Amber Woods]

The Govt is the one manipulating the market. Developers are in no position to do so and are at the mercy of the Govt. It is very obvious.

I respect your position because you take view that the property market is as efficient as the stock market which in reality, it is not.

[august]

I respect your position because you take view that the property market is as efficient as the stock market which in reality, it is not.

I think you replied to the wrong person. I made no such view.

[challenger]

The Govt is the one manipulating the market. Developers are in no position to do so and are at the mercy of the Govt. It is very obvious.

If totally leave it to private, we may become like HK. Developers are out to make profit, whether through strength or guile. They are not weak. How many of you have gone to a show room and noticed the tricks they play. For example, in the earlier days, show flats have no doors to make the place look bigger.

Government has other objectives and want to avoid big movements in prices. They probably realize that all the embloc happening at the same time will result in a spike in property prices, and want to control it.

I am sure the developers will think of ways to counter this move. In the immediate term, my guess is that more people will let go of their HDB when they upgrade to condo. There will be increase in supply of resale HDB, even those in prime area.

[jwong71]

Isn’t it good..? Dump hdb for condo, and older hdb holds no value.
This call for further plunge in hdb prices.

[stalingrad]

Too bad the government has just taken away the last hobby Singaporeans had left, visiting showflats. Now back to boredom.

[azeoprop]

Now people visit car showrooms instead ha ha.