More measures to cool market

[devilplate]

15-20% above market price no problem to them as long as they like. However, they are also not stupid lah, and they are also quite opportunistic. They will try to offer low see whether you bait or not, then slowly bring up the offer price. Must have patience with them.

Transactions will definitely drop for next 1 month, and there may be a few kang-cheong spiders selling below current market price. These new rules will allow those with lots of cash and holding power and waiting to buy to get in at cheaper than current market price (but the windows will be very short). However, as long as Singapore's economy continue to grow, S$ continue to appreciate, more foreign money will continue to come in and soon the prices will continue the climb again within 2-3 months. Let's see.

abit tough....i tot this yr SG luxury market finally got chance to shine....looks like it will be delayed again....

if i am a foreign investor, i wud rather put my $ into HK prime ppty....2yrs of holding period only...even i am looking to hold for long term...i still dun like to be bounded by 4yrs restriction

[teddybear]

Ha ha ha! What you said can trust or not? You not giving misinformation/untruth again?

I wouldn't buy MM units, nor would I touch anything selling for $1,500psf.

why? because MM units are bought mostly by speculators. and these guys were totally killed by yesterday's measures and have gone to heaven or hell, depending on whether god is a speculator or not.

high end properties will be hit hard because the SSD is based on total sales proceeds. besides, in this climate, who has an appetite for these castles in the cloud (good looking but useless in hard time)?

[gfoo]

if u wana tok abt investment class ppty....majority of the CCR ppty is for investment regardless of the size

all will trend down, some less so than others, esp the HNW rental plays. for orchard, OR@ion and similar landmarks should be ok.

even if all goes down, i dun really care (as long as it's not more than 60% down lol)

these measures are an instantaneous asset writeoff for anyone who bought in 2010, and even more so in late 2010.

consider tennery - $1300psf in an average peak $800psf locality. then add the measures on top, and destroy demand. those who bought tennery have and accrued loss of 650psf if marked to market today. luckily households are not run by ebitda

[gfoo]

Ha ha ha! What you said can trust or not? You not giving misinformation/untruth again?

stalin is right in that MMs are investment plays. Unless the MM is in a proven rental demand locality with a history of solid return. very few can boast this. icon and citylights are proven plays for e.g.

[devilplate]

all will trend down, some less so than others, esp the HNW rental plays. for orchard, OR@ion and similar landmarks should be ok.

even if all goes down, i dun really care (as long as it's not more than 60% down lol)

these measures are an instantaneous asset writeoff for anyone who bought in 2010, and even more so in late 2010.

consider tennery - $1300psf in an average peak $800psf locality. then add the measures on top, and destroy demand. those who bought tennery have and accrued loss of 650psf if marked to market today. luckily households are not run by ebitda

tennery not the best example...to me, greenwich is the most expensive ulu suburbs sold last yr

i said b4 tat i will only consider greenwich at 8xxpsf if its FH...99LH status...probably 750psf...lol...and yet FEO managed to sell so well and hit 14xxpsf for their last phase....LOL

[gfoo]

tennery not the best example...to me, greenwich is the most expensive ulu suburbs sold last yr

i said b4 tat i will only consider greenwich at 8xxpsf if its FH...99LH status...probably 750psf...lol...and yet FEO managed to sell so well and hit 14xxpsf for their last phase....LOL

even I will be affected. non-view units will have a propensity to drop 20% here. luckily this place is a proven rental play, simply due to the huge amount of financial professionals here. if there is another financial crisis, then all bets are off.

thankfully all bayview units are in very strong hands, very few original owners. hopefully i won't be affected much.

those who bought clift and one shenton at launch, are ok. those that bought late 2010 ... haha

[proud owner]

can anyone clarify


if one gets a OTP last week (before 14 jan) but has not exercised the option ..

if he exercises it today .. it is subject to the latest ruling ?
or still the previous ruling ?

is it DATE of the OTP or date of exercise of OTP ?

[teddybear]

I am referring to his statement on CCR. IMHO, it is the OCR that will be hard hit - those dreaming of OCR properties as value investment properties and waiting to flip! Who buys OCR for long-term investment of 4 years or more? Very few probably will do that in OCR (for whatever reasons).

Originally Posted by stalingrad
I wouldn't buy MM units, nor would I touch anything selling for $1,500psf.

why? because MM units are bought mostly by speculators. and these guys were totally killed by yesterday's measures and have gone to heaven or hell, depending on whether god is a speculator or not.

high end properties will be hit hard because the SSD is based on total sales proceeds. besides, in this climate, who has an appetite for these castles in the cloud (good looking but useless in hard time)?

stalin is right in that MMs are investment plays. Unless the MM is in a proven rental demand locality with a history of solid return. very few can boast this. icon and citylights are proven plays for e.g.

[amk]

tennery/greenwich/lakeshore all the same: u wake up one morning and ask yourself, how can an outlaying area 99LH command >1k psf ? Common sense prevails: a 1.5M OCR needs 600k cash to buy. Do HDB upgraders have that kind of cash ?

[devilplate]

can anyone clarify


if one gets a OTP last week (before 14 jan) but has not exercised the option ..

if he exercises it today .. it is subject to the latest ruling ?
or still the previous ruling ?

is it DATE of the OTP or date of exercise of OTP ?

bro,based on exercise date....abit unfair but tats life.....expect to see many appeal cases

previous round, based on OTP date...duno y this round based on exercise date....

[proper-t]

can anyone clarify


if one gets a OTP last week (before 14 jan) but has not exercised the option ..

if he exercises it today .. it is subject to the latest ruling ?
or still the previous ruling ?

is it DATE of the OTP or date of exercise of OTP ?

The date of purchase for computation of the holding period for SSD shall be the date when a buyer (i.e. Buyer A) exercises the option to purchase the property, or signs the sale and purchase agreement, whichever is earlier. The date of sale of the property shall be the date when the subsequent buyer (i.e. Buyer B) exercises the option to purchase the property from Buyer A, or signs the sale and purchase agreement, whichever is earlier.

Lots of people will be doing option date re-engineering and throwing in their balance cheques.

[gfoo]

OCR hard hit is a given. how can one justify artificial pricing of 50% overvalue vs common value - just because it's a mickey mouse and low quantum? OCR big units will still have their appeal, and be more price inelastic.

There are various stratas of the rich. CCR where the rich themselves stay in, or are in a growth region even a blind mouse can see, or have historically high rental demand - will also be price inelastic. All other CCRs, will be dumped.

I am referring to his statement on CCR. IMHO, it is the OCR that will be hard hit - those dreaming of OCR properties as value investment properties and waiting to flip! Who buys OCR for long-term investment of 4 years or more? Very few probably will do that in OCR (for whatever reasons).

Originally Posted by stalingrad
I wouldn't buy MM units, nor would I touch anything selling for $1,500psf.

why? because MM units are bought mostly by speculators. and these guys were totally killed by yesterday's measures and have gone to heaven or hell, depending on whether god is a speculator or not.

high end properties will be hit hard because the SSD is based on total sales proceeds. besides, in this climate, who has an appetite for these castles in the cloud (good looking but useless in hard time)?

[amk]

SSD based on exercise date;
LTV I think it's based on loan application date.

[devilplate]

I am referring to his statement on CCR. IMHO, it is the OCR that will be hard hit - those dreaming of OCR properties as value investment properties and waiting to flip! Who buys OCR for long-term investment of 4 years or more? Very few probably will do that in OCR (for whatever reasons).

actually most OCR buyers buy for longer term den CCR buyers....simply bcoz OCR buyers r mostly HDB upgradders whom bot it primarily for own stay....but again, its gona be a painful stay

[devilplate]

Lots of people will be doing option date re-engineering and throwing in their balance cheques.

how to backdate if based on exercise date? dangerous

[devilplate]

OCR hard hit is a given. how can one justify artificial pricing of 50% overvalue vs common value - just because it's a mickey mouse and low quantum? OCR big units will still have their appeal, and be more price inelastic.

There are various stratas of the rich. CCR where the rich themselves stay in, or are in a growth region even a blind mouse can see, or have historically high rental demand - will also be price inelastic. All other CCRs, will be dumped.

ok lah...ur Sail will continue to sail smoothly despite tsunami

[peterng8]

Haha really? Got jurong peak story to tell mah. Actually it's only for properties bought after 14 Jan...... 1 4 means one dead gents in 2011, they have to hold 5 yrs and sell nett. Maybe lose money. Poor Peter ng.., run away Liao.

he he I am still here...stronger than ever....how is your MM?

[proper-t]

how to backdate if based on exercise date? dangerous

This is only possible if option is dated 13 Jan or earlier. Technically, it is possible to date the acceptance of option on the same date as long as you cough up the balance payment. For primary sales, its a bit more difficult but doable for secondary mkt.

[teddybear]

It's Ok, we don't have to argue on that. Let's wait for facts to come out, 4 months after today and see what is the price trend for CCR vs OCR.

actually most OCR buyers buy for longer term den CCR buyers....simply bcoz OCR buyers r mostly HDB upgradders whom bot it primarily for own stay....but again, its gona be a painful stay

[august]

dun waste time on these projects....

hmmm...jus nid to find out recently TOP or going to TOPed CCR projects....TOP Party

soon to TOP projects will get hit

[gfoo]

ok lah...ur Sail will continue to sail smoothly despite tsunami

i can only wish

[devilplate]

tennery/greenwich/lakeshore all the same: u wake up one morning and ask yourself, how can an outlaying area 99LH command >1k psf ? Common sense prevails: a 1.5M OCR needs 600k cash to buy. Do HDB upgraders have that kind of cash ?

makes me wonder y centris can hit close to 1kpsf whrby boonlay HDB always been one of the cheapest .....expect the unexpected....

[stalingrad]

how to backdate if based on exercise date? dangerous

the issue of backdating is moot. those that have not exercised their options would be lucky to be able to back out, losing only the deposit. who has guts to go ahead with the purchase?

those that backdate to proceed with the purchase obviously have the IQ of a lamp post.

[bargain hunter]

"The date of purchase for computation of the holding period for SSD shall be the date when a buyer (i.e. Buyer A) exercises the option to purchase the property, or signs the sale and purchase agreement, whichever is earlier. The date of sale of the property shall be the date when the subsequent buyer (i.e. Buyer B) exercises the option to purchase the property from Buyer A, or signs the sale and purchase agreement, whichever is earlier."

can anyone clarify


if one gets a OTP last week (before 14 jan) but has not exercised the option ..

if he exercises it today .. it is subject to the latest ruling ?
or still the previous ruling ?

is it DATE of the OTP or date of exercise of OTP ?

[stalingrad]

It's Ok, we don't have to argue on that. Let's wait for facts to come out, 4 months after today and see what is the price trend for CCR vs OCR.

I thought our bet is for one year.

[bargain hunter]

"The 60% LTV limit will apply to transactions where the date on which the option to purchase (OTP) was granted falls on or after 14 January 2011; or if there is no OTP, where the date of the Sale & Purchase agreement falls on or after 14 January 2011."

so technically, the SSD cannot siam but the loan can still borrow 70% if OTP is dated 13th Jan? is my interpretation correct?

[teddybear]

1st glimpse of results can already be seen 4 months later (courtesy of Govt's cooling measure).

I thought our bet is for one year.

[Blue]

tennery/greenwich/lakeshore all the same: u wake up one morning and ask yourself, how can an outlaying area 99LH command >1k psf ? Common sense prevails: a 1.5M OCR needs 600k cash to buy. Do HDB upgraders have that kind of cash ?

Eh..HDB upgraders do hv tat kinda cash. If they are staying in a 5rm HDB and have fully paid their HDB loan after 5 yrs, and then they easily sell the HDB for $500K (cash + CPF). So a normal family will a savings of $200K in the bank will put them with ease to buy a $1.5M condo.

[teddybear]

When tennery/greenwich/lakeshore/The Vision/Centro TOP, let's see how will they perform?
Then you can tell me OCR buyers buy for long term or own stay? Buy for own stay or long term want to wait for 3-4 years to build and pay premium of 20-35% and yet don't want to buy already completed resale units at 20-35% cheaper to stay-in immediately or straightaway collect rental? Can you explain why? Doesn't make any cow-sense to me.

The only possible reasons are:
1) buy to flip, so must buy new launch, buy time for prices to go up by just paying 10% only (project under development, the rest of 90% pay in stages).
2) Buy but not enough money to pay full and/or get full loan from bank, can only pay 10% down payment for now immediately, so must buy new launch to buy time (as in (1)).

actually most OCR buyers buy for longer term den CCR buyers....simply bcoz OCR buyers r mostly HDB upgradders whom bot it primarily for own stay....but again, its gona be a painful stay

[jwong71]

Eh..HDB upgraders do hv tat kinda cash. If they are staying in a 5rm HDB and have fully paid their HDB loan after 5 yrs, and then they easily sell the HDB for $500K (cash + CPF). So a normal family will a savings of $200K in the bank will put them with ease to buy a $1.5M condo.

how many hdb buyers take up 5yrs loan,instead 30yrs.??
how many HDB owners are still in debt..??

If im a hdb buyer,either i take 30yrs loan to roll my cash for beta returns, or just fully paid to save on interests.. i wont even consider for 5yrs of loan. neither here nor there.

u thinking too positively