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Thread: Upcoming property launches to test cooling measures

  1. #1
    Any complaints please PM me

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    Default Upcoming property launches to test cooling measures

    [url]http://www.straitstimes.com/Money/Story/STIStory_627550.html[/url]

    Jan 24, 2011

    [B][SIZE="5"]Upcoming property launches to test cooling measures[/SIZE][/B]

    [B]Demand is still there, at least for smaller units, say experts[/B]

    By Esther Teo, Property Reporter


    THE impact of the latest property cooling measures could soon be tested as developers and marketing agents muster interest for three new property launches.

    Far East Organization has been marketing The Cape, its 76-unit development at Amber Road, as 'the pairing of cosmopolitan sensibilities with idyllic sensitivities'.

    At the District 15 freehold property - right next to the firm's Silversea project - a one-bedroom unit of 600 sq ft to 650 sq ft is going for about $1.2 million, based on indications from some property agents. This would work out to about $2,000 per sq ft (psf).

    A two-bedroom unit would set a buyer back by about $1.7 million. The prices will probably be subject to change until the project goes on sale - the timing is expected to be around Chinese New Year.

    Far East is offering some early-bird buyers a 5 per cent cash rebate, which will be paid out only when the project is completed. The Straits Times understands this move is in line with the company's aim of building a stronger base of long-term buyers.

    Also coming up is La Fleur, a 'shoebox' development in Geylang, which is expected to hold a preview today. All the 58 units are one-bedders, with sizes ranging from 409 sq ft to 646 sq ft. Prices start at an estimated $490,000 - or roughly $1,200 psf - based on marketing material obtained by The Straits Times.

    The District 14 project, which consists of two eight-storey blocks, is being developed by Teambuild Properties.

    Over at Balestier, Okio Residences by SDB Asia - a subsidiary of Malaysia-listed Selangor Dredging - will be previewed on Thursday.

    Half of the 104 units in the 18-storey freehold project are shoebox apartments of less than 500 sq ft. It also has two-bedroom units, with sizes ranging from 570 sq ft to 667 sq ft, and four penthouses that go up to 1,098 sq ft.

    Agents said a 420 sq ft apartment would cost an estimated $650,000.

    Separately, at d'Leedon, CapitaLand's 1,715-unit project at Farrer Road, the showroom was reopened to the public over the weekend after the company sold 232 of the 250 units released during the initial launch last month.

    Experts said projects with smaller units were still being launched because the purchase price of such units remained manageable for buyers.

    Mr Colin Tan, a research and consultancy director at Chesterton Suntec International, said that even though buying sentiment had been affected by the cooling measures, there was still demand from home buyers.

    'Developers can't push sales and prices at the same time - something has got to give. But demand is still there, so it's up to the developers to be creative in enticing buyers,' he noted.

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  2. #2
    New Launch Project Specialist

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    The cape or the cage?

  3. #3
    Go for Smallest Unit

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    Quote Originally Posted by xebay11
    The cape or the cage?
    The cap!

    Demand still there and developer needs to get creative? How? Add air con ledge to all rooms? Put a big balcony in the kitchen?

  4. #4
    Junior

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    Far East is offering some early-bird buyers a 5 per cent cash rebate, which will be paid out only when the project is completed. The Straits Times understands this move is in line with the company's aim of building a stronger base of long-term buyers.
    =======

    Paiseh. I never buy new launch but is above tactic new? 5% rebate only to be paid out when project is completed? I believe it's like creative accounting to artificially inflate the PSF? Actual PSf should be 5% lower then...

  5. #5
    Junior

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    Quote Originally Posted by Wild Falcon
    Far East is offering some early-bird buyers a 5 per cent cash rebate, which will be paid out only when the project is completed. The Straits Times understands this move is in line with the company's aim of building a stronger base of long-term buyers.
    =======

    Paiseh. I never buy new launch but is above tactic new? 5% rebate only to be paid out when project is completed? I believe it's like creative accounting to artificially inflate the PSF? Actual PSf should be 5% lower then...
    Can one meh housing loan based on sale price and get rebate later. So 40% down payment is actually less at the end... very creative....

    Wonder what MAS will say....

  6. #6
    Go for Smallest Unit

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    Its vouchers and not cash. Get it? Still under own turf. Water never flow out,

  7. #7
    Junior

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    Quote Originally Posted by Wild Falcon
    Far East is offering some early-bird buyers a 5 per cent cash rebate, which will be paid out only when the project is completed. The Straits Times understands this move is in line with the company's aim of building a stronger base of long-term buyers.
    =======

    Paiseh. I never buy new launch but is above tactic new? 5% rebate only to be paid out when project is completed? I believe it's like creative accounting to artificially inflate the PSF? Actual PSf should be 5% lower then...
    It was being adopted by MCL land previously @ 2% to be paid upon TOP if one opt for normal scheme instead of interest absorption scheme.

    If you got it thru subsale, the 2% is not extended to the new owner.

  8. #8
    Junior

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    Quote Originally Posted by kingkong1984
    Its vouchers and not cash. Get it? Still under own turf. Water never flow out,
    should be cash cheque rite? some only buy house once in a life time? anyone can verify?

  9. #9
    Junior

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    This tactic see until sian liao.. stamp duty absorption, cash rebate etc.. all show hand when market demand is slowing down... usually cash or check or vouchers will be written in S&P

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