Any complaints please PM me
http://www.businesstimes.com.sg/sub/...26150,00.html?
February 15, 2011, 12.40 pm (Singapore time)
Developers sold 1,189 private homes in January
By EMILYN YAP
Developers sold 1,189 private homes (excluding executive condominiums) in January. This is 11 per cent down from the 1,332 units sold in December last year.
Including executive condominiums, developers offloaded 1,534 private homes - 10 per cent less than the 1,699 last month.
Junior
Private home sales fall to three-month low
By Jonathan Peeris | Posted: 15 February 2011 1421 hrs
SINGAPORE: Sales of private residential property in Singapore fell to a three-month low in January after the government announced stringent measures to curb speculative activity, including a 16 per cent seller's stamp duty for sales in the first year.
Data released on Tuesday by the Urban Redevelopment Authority (URA) showed that 1,189 private homes were sold last month.
This is an 11 per cent month-on-month drop from the 1,332 units sold in the previous month. It is also the lowest monthly sales figure since October.
As many as 588 units were sold outside the central region while the core central region accounted for 200 units sold. The remaining 401 units sold were in the rest of the central region.
A total of 1,238 units were launched in January.
- CNA/fa
BE CENTRED BY ALL AT THE FRINGE OF THE CITY @
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http://www.straitstimes.com/Breaking...ry_635111.html
Feb 15, 2011
Private property sales hit 3-month low in Jan
By Esther Teo
HOT off the heels of the government's latest measures to stem the rise in property prices, private homes sales have fallen to a three-month low in January, data released by the Urban Redevelopment Authroity showed onTuesday.
On Jan 13, the government announced stringent measures to curb speculative activity, including a 16 per cent sellers stamp duty for sales in the first year.
A total of 1,189 private homes were sold in January, with almost 50 per cent sold in the suburban region.
Including executive condominiums, the number was higher at 1534.
Top selling projects include Spottiswoode 18 which found buyers for 204 units at a median of $1,992 per sq ft (psf) and Canberra Residences which sold 155 units at a median of $831 psf.
Camper
It is still a commendable number of units sold! Wow~
HDB dwellers think outside the shoebox
Many snapping up tiny units to invest or to live in
By KALPANA RASHIWALA
(SINGAPORE) HDB dwellers are aiming small when it comes to buying private homes; they are scooping up more shoebox units.
The big draw is the lower lump sum needed to invest in these units. So HDB dwellers are marching into this market segment in sharply rising numbers, shows a caveats analysis by Savills Singapore.
The analysis of URA Realis caveats data shows that buyers with HDB addresses lodged 1,016 caveats for private apartments under 500 square feet in size last year - about 17 times the 59 such units bought by HDB dwellers in 2006.
Read more....
http://www.businesstimes.com.sg/sub/...426118,00.html
Yee ha! Did I tickle your funny bone?
Go for Smallest Unit
It's goin to be worst.
One fine day they will get burnt.
Junior
Surprised still so many people buy
Junior
what is this worst about?Originally Posted by kingkong1984
trx drops further?
I will be off loading another 1/3 of Sg properties this year and keep the last 1/3 blue chips as long term holdings.
Senior
People are unusually bullish about property. Many people in this forum have recently bought for investment. If so many people are buying for investment, then it is a sign to stay at the sideline for the moment.
Junior
Unless got crisis or else market will be bullish...
Junior
surprising mehKeep getting reports of good sales in this forum alone.
How to have "firesales"?
Junior
Haha.. Quite funny... Singaporeair very rich.. 40% downpayment still can buy buy buy
Junior
Measures only come out mid January mah. Feb seems quieter. And many shoebox projects that are very affordable (700k - 1m) like Spottiswood 18, Loft @ Holland, Loft @ Nathan (CCR dominated by MMs nowadays) still attracts low budget investors. But I notice some suburban condo decent size units (Canberra, Waterfront Isle etc) are still moving - so real demand is still there.
Senior
Those buyers are HDB upgraders. Renting out HDB to stay in nearby private.
Junior
I predict Feb 2011 numbers should be lower than Jan 2011 simply because spootiswoode agent calling me to go down for 2nd viewing.
Senior
that is logical but looks like the wildcard is h20 resi. if launched in feb then there is a chance feb numbers could be higher than jan!
I predict Feb 2011 numbers should be lower than Jan 2011 simply because spootiswoode agent calling me to go down for 2nd viewing.
Senior
I think from Feb onwards the pte condos numbers should be still around 1000 units. But there are many projects that remain unsold, and new projects are still being launched. So there will be less units sold per project in the next few months. FEO has already given discounts in recent projects, other developers will soon follow the signal to move their own units.
Go for Smallest Unit
Price discounts given... means more discounts to be given down the road.
the peak has arrival... the roller coaster is on its way down....
must wait for something for it to go up the wave again.
Junior
that is logical but looks like the wildcard is h20 resi. if launched in feb then there is a chance feb numbers could be higher than jan!
average price 1100psf - sengkang area...
Project Name
H2O Residences
Description
PROPOSED ERECTION OF CONDOMINIUM COMPRISING OF 5 BLOCKS (19, 21, 22, 23-
STOREY) RESIDENTIAL FLATS (TOTAL 521 UNITS) WITH 2 BASEMENT CARPARKS
SWIMMING POOL AND COMMUNAL FACILITIES ON LOTS 4340A MK 20 AT SENGKANG
WEST AVE/ FERNVALE LINK
District
28
Tenure
99 years leasehold w.e.f 10 May 2010
SITE AREA
Approx 16,998.8 sq m/ 182,975 sq ft
LOCATION
Sengkang West Avenue/ Fernvale Link
PLOT RATIO
3.0
T.O.P
31 Dec 2015
LEGAL COMPLETION
31 Dec 2018
NO. OF UNITS
521 residential units and 1 retail unit (approx 323 Sqft)
Developer
Impac Holdings Pte Ltd
Key features:
> Next to Layar LRT Station connecting to Sengkang MRT Station & Bus Interchange
> Future & existing park connector along banks of Punggol Reservoir
> Near sch Pei Hua Sec Sch, Nan Chiau Pri & Sec Sch
> Mins walk to coffeeshop, supermarket, wet market & other amenities
Unit Mix:
> 1br - approx 527 sqft
> 2br - approx 743-797 sqft
> 2+s - approx 850-883 sqft
> 3br - approx 1076-1130 sqft
> 3+s - approx 1195-1227 sqft
> 4br - approx 1378-1389 sqft
> Penthouse - approx 2659-2713
----------------------------------------------
Junior
possible, units can move cos of bargain hunters who have $ to buy. if the bargain hunters are gone....it may be possible to have a real discounted price coming. transaction vol month by month will tell a story.
unless the gov lift up the restriction of 40% dp.
however, election will come first.
Bricks & Mortar
http://www.h2o-residences.com/
521 units over 182,975 sqft
Any complaints please PM me
http://www.businesstimes.com.sg/sub/...86340,00.html?
Published February 16, 2011
Jan private home sales down 11% as new rules take effect
Some consultants expect developers to sell around 1,000 units or less in Feb
By EMILYN YAP
(SINGAPORE) Developers managed to sell a respectable 1,189 private homes in January - down 11 per cent from 1,332 in December - as measures to cool the property market rained on the home-buying parade only in the middle of the month.
But some market watchers expect the new rules to continue exerting pressure on sales. Already, deals for at least 52 units across more than 10 projects did not go through in January.
Some consultants foresee developers selling around 1,000 units or less when February draws to a close.
Fresh data from the Urban Redevelopment Authority (URA) yesterday showed that sales were concentrated in the suburbs - some 49 per cent or 588 units were in the outside central region.
Developers offloaded 401 units in the rest of the central region, and another 200 units in the core central region.
Including executive condominiums (ECs), developers would have sold 1,534 units in January - 10 per cent less than the 1,699 in December.
Well-received projects last month include Canberra Residences (which sold 155 units), Prive (217 units), Spottiswoode 18 (204 units), and The Tennery (105 units).
Several industry observers believe that the property cooling measures will continue working their way through the market, since they came into effect only on Jan 14.
In the 30-day period after tightening policies are introduced, sales volume typically contracts by 25-30 per cent, said Jones Lang LaSalle research head for South-east Asia and Singapore Chua Yang Liang.
With sales in January shrinking 11 per cent, another 15-20 per cent drop in February is possible. This means that developers could sell 950-1,000 units (excluding ECs) this month, he explained.
Cushman & Wakefield senior manager of Asia-Pacific research Ong Kah Seng expects developers to sell 900-1,100 non-EC private homes in February, while Knight Frank consultancy and research head Png Poh Soon estimates 1,000 or slightly lower.
CBRE Research executive director Li Hiaw Ho was slightly more sanguine. As upgrader-type projects such as My Manhattan, H2O Residences, and Hedges enter the market in February and March, 'we expect demand to be comparable to January's level and home prices to remain reasonably stable'.
For a group of buyers, the cooling measures have given them cold feet. A quick scan of URA's data showed that buyers of at least 52 units across more than 10 projects dropped their purchases in January.
CBRE also observed that there were aborted cases for some new launches in December last year and the early part of January.
Projects with units surrendered last month include The Tennery (13 units), Prive (nine units), Robinson Suites (six units), Space @ Kovan (four units), and Nin Residence (four units).
Far East Organization is behind The Tennery. The developer's chief operating officer for property sales Chia Boon Kuah said that returned units at the project 'are mainly due to the cooling measures'. Currently, 314 of the 338 units there have been sold.
At Prive, BT understands that just one of the nine deals which fell through was due to the buyer pulling out because of the cooling measures. Another buyer could not meet certain EC purchase criteria.
As for the remaining seven units, their buyers are said to be changing loan structures and will go ahead with the purchases.
Knight Frank's Mr Png noted that it is common for projects to have a few returned units, though the cooling measures would have made people think twice.
Especially for those who bought multiple properties, the risk could have become too high and they would rather forfeit the option fee, he said.
Another industry insider suggested that buyers could have walked away from deals in anticipation of home prices dipping later.
Any complaints please PM me
http://www.straitstimes.com/PrimeNew...ry_635275.html
Feb 16, 2011
Private home sales feeling the chill of cooling measures
January numbers down 11%, but still higher than expected by analysts
By Esther Teo, Property Reporter
PRIVATE home sales stayed buoyant last month, but experts believe the cooling measures imposed in the middle of the month will likely take some of the heat out of the market.
That will not be apparent until this month's numbers are released next month, but figures out yesterday have given the industry plenty to digest.
They showed that 1,189 new units were sold last month, 11 per cent down on December and nearly 40 per cent lower than November, but higher than expected by market watchers.
If sales at executive condominium estates such as Prive and Austville Residences were included, last month's sales would be 1,534 units.
But early signs have emerged that the tougher new rules, which include a sellers' stamp duty of up to 16 per cent, might have dampened sales activity and prompted some buyers to rethink their purchases.
Mr Li Hiaw Ho, executive director of CB Richard Ellis (CBRE) Research, can point to about 30 cancellations for units at new launches at The Tennery, Robinson Suites and the Prive last month.
Last month's lower sales could also be due to the measures weeding out purchases by short-term investors. Genuine buyers who bought either for occupation or long-term investment were likely to have made up January's figures, said Mr Li.
Jones Lang LaSalle's (JLL) head of research for South-east Asia, Dr Chua Yang Liang, added that new projects launched last month generally saw a take-up rate of under 50 per cent.
But Spottiswoode 18 and Loft@Holland, which have a large number of so-called shoebox apartments of less than 500 sq ft, were some of the exceptions, with more than 80 per cent of units launched last month snapped up.
These small-sized flats saw robust sales as their lower overall price attracts both owner-occupiers and investors, said Mr Png Poh Soon, Knight Frank's head of research and consultancy.
Most homes sold last month were in the suburban and city fringe areas. The city fringe was especially popular, with sales up 42 per cent to 401 units compared with December's numbers.
'The provides support...to our view that prime properties are likely to see better performances this year as savvy investors return to pick up bargains in this segment of the market,' said JLL's Dr Chua.
The luxury market also enjoyed a fair level of interest, particularly projects that were newly completed or approaching completion, said CBRE's Mr Li.
The most expensive properties sold last month were three units of Scotts Square, which went for a median price of $4,621 per sq ft (psf), and a unit of The Orchard Residences at $4,258 psf.
OrangeTee Research, however, found that islandwide median prices inched up 1.8 per cent to $1,573 psf from the previous month. This could be due to the large number of shoebox apartments being sold, which generally have a relatively higher psf price.
Experts say that current market sentiment may not be easily subdued in the short term as the vibrant buying has been driven largely by record low interest rates and an economy flush with cash.
The brakes might be applied when interest rates start to rise and an increase in supply enters the market in the next few quarters from the recent government land sales, said Ms Christine Sun, senior manager at Savills Research & Consultancy.
'As it stands, the cumulative units launched but unsold have been increasing over the past few months, indicating that supply has already started to outstrip demand...Therefore, some downward pressure on mass-market home prices could be expected in the months ahead,' she said.
Knight Frank's Mr Poh estimates that between 800 and 900 homes will be bought this month. Propnex chief executive Mohamed Ismail expects close to 1,000, as almost 500 units have already been sold, he said.
Last month's top-selling projects included Spottiswoode 18, with 204 units sold at a median price of $1,992 psf, and Canberra Residences, where 155 flats went at a median price of $831 psf.
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