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Unit, #___SQFT___PSF,$___Total,$____Contract date
28-0X____1421___1200___1,705,000___26/09/08 --- NEW
28-0X____1421___1339___1,902,267___25/06/07 --- This owner would lose at least $200K!!!
Kaoz..15mths lose 200K+not forgetting stamp fees & stamp duty fees.It's really a buyers world now..;)
wow... and i thought high floor units will do better.
How do you know this 26-Sep-08 caveat is not an old caveat?Quote:
Originally Posted by C.X
This unit has only 2 caveats lodged. If the $1.7Mil transaction is the old caveat, there should be another caveat about 2 months preceeding it.Quote:
Originally Posted by Question
How did you know he did not bought at $1,705,000 in 2006 and sold at $1,902,267 in 2007?Quote:
Originally Posted by Real Estate Pundit
It is very rare to have developers sell a unit and then round to the nearest thousand of dollars. Developers do not give discount by rounding the price, they will more likely absorb stamp duty or provide deferred payment. Thus the $1.9M price is developer sale price. And in 2006, the psf should be nearer to $1,000.
Whats the going rate for PI 1464 sq ft units now in stacks 1 or 2 from 15th floor onwards, would you know?
Not true. I got rounded off with the hundreds removed when I buy my property. That's on top of other discount and deferred payment.Quote:
Originally Posted by Real Estate Pundit
i like the spacious grounds that come with PI. however, can i ask which 3br stacks are worthwhile considering? also, what is considered a good price for these stacks?
many thanks!
Sorry, could u explain more... why would there be aanother one 2 months preceding? catch no ball.. pai seh.Quote:
Originally Posted by Real Estate Pundit
URA website has an Aug transaction at 1146 psf! 13xx sf unit. Looks like the prices are falling. Are units of this size good facing?
looked through old caveat listing provided by agent back in jan 2008, i do see this entry already listed:Quote:
Originally Posted by Question
28-0X____1421___1339___1,902,267___25/06/07
i suppose it is indeed a loss then. if you realise what stack this is, i think it is pretty understandable then.
what's with this stack? no view?Quote:
Originally Posted by dug into history
When you buy a property in the secondary market, you 1st give either a 1% or 5% payment to get the 'Option to purchase'. You will then have 2 weeks to exercise this 'Option to purchase'. So depending on how fast you are at finding a lawyer and to give the documents to your lawyer, the appearance of your cavaet to purchase the property will also be timed in similar fashion, meaning the caveat may appear on day 2 or even day 14 of the option date.Quote:
Originally Posted by Q3
Most transactions will take the normal course of 2 months to complete, although a seperate arrangement for quicker or longer completion may be negotiated. Prior to completion, most lawyers will do a search on the Seller. Subsequently, the caveat showing the Seller's original purchase will appear.
In summary, every purchase will very likely have 2 caveats. 1st, to show the BUYER's purchase price and 2nd, to show the SELLER's original purchase price, and this may appear upto 2.5 months later.
All you losers talk so much cock also will not stop condo prices from falling.
Singapore will go into recession and all your properties will go under water.
Get a rope ready to tie around your neaks.
The unit is #28-06. So why are there sceptics over the selling price of this unit? Is this scenario improbable? Seller bought this unit from Keppel near the peak of the the property bubble of 2007, and we are seeing price correction now.
Have people forgotten to concept of incurring losses in property transactions? A lot of properties purchased in 1996, 1997 were sold at a huge losses.
Has anyone thought of this?
In Singapoe when a bank goes bust, our savings are protected up to $20K right and we can also take legal action against the bank to claim back the rest.
What about the car and property loan we took from the bank? Does that mean that these loans are clear forever and we get to keep both?
Of course - for discussion only lah. I also don't want this to happen.
Go under water? Then how come you still can talk cock here? Strange!Quote:
Originally Posted by tie your neak
Why did the original purchase price appear upto 2.5 months later after selling?Quote:
Originally Posted by Real Estate Pundit
When I bought units in 06, all appeared 2/3 months after my purchase. When I sell them in 07, they don't reappear again.
Of course it is possible. Anything is possible. There will be people selling at loss even in a hot market. I have friends who sold at loss due to a divorce.Quote:
Originally Posted by Real Estate Pundit
Forumers started questioning because URA caveats often can't tell the true picture. If URA state the transaction date rather than the caveat lodge date, then everyone will stop questioning and take it as a bible.
The fault lies with URA not the forumers. We basically don't know.
To all agents from different agencies.
Please Co-op, i know sales are getting very down.
No point coming here and vent frustration with
vulgarities and nonsense postings.
Thank you.
Agree with above; many people (including me) thought good times were going to go on for a few more years....Quote:
Originally Posted by Real Estate Pundit
Hi Wiser,
You are not the only one thinking the market will have another few good years. Just take a look at the number of en-blocs and land purchases done in 2007 by the traditional big boys developers......Sentosa upto $1750+ PSF per plot ratio....Upper East Coast at $780psf per plot ratio! The 'Irrational exuberance' went to the developers' heads as well.
The only silver lining will be the construction costs coming down.
Am just wondering how many PI owners trying to cash out? Heard that many of the original owners who bought in 2005 or earlier already sold..
Hello everyone. Heard that SG in recession so i came here
to laugh at you guys. Hip hip hooray!
Funny. Do we know you. I think you are in the wrong place.Quote:
Originally Posted by Ardmore1*
..........Quote:
Originally Posted by Ardmore1*
"..... you need to be technically correct when you post.
Singapore government forecasted Singapore in Technical Recession for Q3 2008 based on July and August figures. We will know the September results by the end of October.
Economists forecast lower GDP Growths for the next 2-3 years. They did not forecast Recession. ....."
Just f.y.i..Quote:
Originally Posted by Ardmore2*
The last "technical recession" occurred in 2002.
The last "recession" occurred in 2001 when the GDP growth was -2.4%.
Oct 10, 2008
S'pore slips into recession
# MTI lowers 2008 forecast to 3%, from earlier 4-5%
# MAS moves to ease monetary policy
# Inflation has peaked
SINGAPORE has slipped into its first recession since 2002 after its economy declined for a second straight quarter, prompting the central bank to ease monetary policy favoring gains in its currency in an effort to confront the downturn.
The Ministry of Trade and Industry (MTI) on Friday also revised downwards Singapore's full-year growth forecast to around 3 per cent from an earlier estimate of 4 to 5 per cent, citing a slowdown in the global economy and key domestic sectors.
At the same time, the Monetary Authority of Singapore said it was easing monetary policy for the first time in more than four years. It said on Friday it is shifting to a 'zero-percent appreciation' stance and will intervene to reduce "excessive volatility'.
There will be no re-centering of the band of change in the so-called width, the range in which it is allowed to trade, said MAS.
Central banks around the world are loosening monetary policy and cutting interest rates as an escalating global credit crisis that's toppled banks in the US and Europe saps growth.
MTI said the impact of the worsening US financial crisis and the deepening credit crunch had weakened US consumer sentiment, which will affect demand from Asia and the rest of the world.
On a seasonally adjusted quarter-on-quarter annualised basis, real GDP declined by 6.3 per cent in the third quarter after contracting 5.7 per cent in the previous quarter, the ministry said.
While it did not describe the economy as being in recession, a technical recession is generally defined as two consecutive quarters of contraction in economic output.
Economists polled by Dow Jones Newswires had forecast a 0.3 per cent quarter-on-quarter rise in gross domestic product, the value of goods and services produced in the economy.
Singapore's last technical recession occurred in 2002 while the most recent full-scale recession was in 2001, when the economy contracted 2.4 per cent during the year.
Compared with the third quarter of last year, the ministry said Singapore's economy contracted by 0.5 per cent in real terms, against 0.8 per cent expansion foreseen in the Dow Jones poll.
In August the government had revised down its full-year GDP forecast to 4.0-5.0 per cent but since then, external economic conditions have deteriorated more than expected and some sectors of the economy have weakened significantly because of industry-specific or domestic factors, the ministry said.
'Singapore's export-oriented sectors, such as manufacturing, will be affected,' it added.
Last year the economy expanded 7.7 per cent but after years of growth, signs of a slowdown emerged with recent disappointing trade data and contractions in the important manufacturing sector, which includes the export-dependent electronic and pharmaceutical industries.
In August, key non-oil domestic exports fell for the fourth straight month, with electronic shipments continuing a decline begun in February 2007, while manufacturing dropped by 12.2 per cent.
The August fall in output followed a 21.5 per cent decline the previous month.
The government's preliminary third-quarter GDP estimates are based largely on data from July and August, and are subject to revision.
Inflation peaks
Inflation, which reached a 26-year high earlier this year, has peaked, said MAS. Consumer prices will rise between 6 per cent and 7 per cent this year, and gains will ease to between 2.5 per cent and 3.5 per cent in 2009, it predicted.
'Against the backdrop of a weakening external economic environment and continuing stresses in global financial markets, the growth of the Singapore economy is expected to remain below potential in the period ahead,' said MAS.
'Inflation is expected to trend down in 2009 as the global and domestic economies slow.'
Exports slump
Singapore's US$161 billion (S$239 billion) economy declined 0.5 per cent last quarter from a year earlier, compared with a revised 2.3 per cent gain between April and June.
Growth has deteriorated as a slump in export demand forced factories to cut production, tourist arrivals faltered and a real-estate boom ended, reported Bloomberg news.
The island's manufacturing industry, which accounts for a quarter of the economy, contracted 11.5 per cent last quarter from a year earlier, compared with a revised 4.9 per cent drop in the previous three months, according to today's report.
Singapore's government expects exports to decline as much as 4 per cent this year, and the island's shipments of electronics goods have fallen for 19 consecutive months.
Financial services
Services climbed 6.1 per cent in the third quarter from a year earlier, slowing from a 7 per cent pace in the previous three months. The city-state will probably miss a government target of 10.8 million visitors in 2008, the tourism board said on Sept 23, after visitor arrivals dropped 7.7 per cent in August.
'The financial services sector is likely to see slower growth in the coming months as the ongoing global financial crisis has heightened uncertainties for sentiment-sensitive segments such as stocks trading and fund management activities,' said MIT.
The construction industry grew 7.8 per cent, easing from a revised rate of 19.8 per cent in the previous quarter.
Singapore's benchmark Straits Times Index slumped 7.3 per cent to its lowest level since November 2004 on Friday in opening trade after the economic data and policy statement.
The Singapore dollar rose to $1.4724 per US dollar after the central bank's announcement compared with $1.4780 as traders adjusted positions after the widely expected move. -- AFP, REUTERS
Quote:
Originally Posted by Ardmore2*
Quote:
Originally Posted by News
So these are preliminary figures based on data from July and August. When can we get the final GDP figure?Quote:
Originally Posted by singapore
So if Q4 growth is higher than Q3, then we need another 2 more Qs to get another technical recession?