Junior
What do u make of developer's aggressive bidding of land in recent months. There seems to be enbloc happening every month also.
it's to signal to me that the big boys are still confidential of the strong demand to follow in short term. Developers seems confident of bidding high n able to sell higher.
What are your view?
Newbie
No crisis price wouldnt fall. High will go higher.
More barrier to entry. Only rich get richer.
US housing still falling, bottom not in sight. Fed dare not raise rates. Interest will stay low for next 12 months and beyond.
One day it will crash but not anytime soon.
Senior
It is actually a matter of no choice... Most developers have been holding back the last 2 to 3 years when the property market was really bad up till last year 2010 when it started picking up. Then developers were still busy pushing out projects which they have held on for 1 to 2 years while they were also observing the market. Now, when things are more stable, and their reserve has no more lands, they have no choice but to bid and in order to survive and feed themselves and their employees, they need to be aggressive. This is mixed with their projection of strong demands too. All of these factors contribute to the aggression. Well, govt may implement cooling measure no. 5 real soon...Originally Posted by DaytonaSS
Music of the night
Conflict of interest btn government and developers
On one hand, CAPL and Keppel find it harder to make $$ in China so they will allocate more $$$ to snap up lands in Singapore, on the other hand, MBT is trying to stop people from buying
After circle line fully open, project near MRT should fetch even higher value
Ride at your own risk !!!
Senior
developers will have to drop that name if they have no more landbank. suck thumb, got to try and bid for some land, and go a little more aggressive when they feel confident.
Junior
The price for them to break even already is ridiculous as compared to resale area in most region of OCR. I think on the flip side, for example, Bishan. When Capitaland launch their record bid, it could be in the region of $1500-$1600?
This could do well to raise/ set new standards for condos around the region. This could also be a good news for pple whom already own condo near new launch.
So in a way aggressive bidding by developers in a way bring up prices of older developments. What are your observations on this ?
Senior
Prices will surely climb upwards but whether fast or slow is another issue. The Centro Residence at AMK is asking 1200psf for the last one year already but Grandeur 8 just 400m down is still struggling to get out of 800+ psf. Similarly, The Scala at Serangoon is asking 1000+ psf when launched but prices of Sunglade, about 200m away and still nearer to MRT and NEX mall only climbed up a little and still struggling at about 900+ to 1000psf. Only time will tell....
Junior
I did not notice this is the case for most of the time. The surrounding older projects do not move in tandum, even those surrounding projects under construction, also will not move to the same price level.
Somehow, the buyers prefer to buy from developers, and at times, rather impulsive buy.
Senior
I thought mr MBT said that those developers who bidded ultra high prices to get the land will be "punished"?
Anyway I know a few of my friends have sold their flats and are renting for now....waiting for prices to drop...wonder will it come true in 2012?
Junior
MBT sells satay n prata most of the time leh..... dont know wat to get from his satay marketing. Some time selling chicken, some time sell pork.I thought mr MBT said that those developers who bidded ultra high prices to get the land will be "punished"?
Anyway I know a few of my friends have sold their flats and are renting for now....waiting for prices to drop...wonder will it come true in 2012?
Senior
Yeah... MBT says developers who bidded high will be 'punished' when they have problem selling their project but he failed to say that govt laughing their way to the bank when the proceeds come in... hmmm...I thought mr MBT said that those developers who bidded ultra high prices to get the land will be "punished"?
Anyway I know a few of my friends have sold their flats and are renting for now....waiting for prices to drop...wonder will it come true in 2012?
Ordinary
Mitsubishi Estate takes 25% stake in Singapore Bishan condo project
Reuters
Singapore
Thursday, 31 March 2011, 7:28pm SGT
Japan’s Mitsubishi Estate will take a 25% stake in a condomium development that is coming up in Bishan Singapore, Southeast Asia’s biggest developer CapitaLand said on Thursday.
The Singapore-based developer will own the remaining 75% of the development, which will comprise apartment blocks of at least 36 storeys high with about 600 units in total.
CapitaLand acquired the site in Bishan Central, an area to the north of Singapore’s Orchard Road shopping belt, for $550.1 million in February this year.
Junior
sure bo, MBT 1 hand make record profits from land sale, other hand introduce record measures..... he 1 person happy can le, developers n aspiring home owner kanna only......Yeah... MBT says developers who bidded high will be 'punished' when they have problem selling their project but he failed to say that govt laughing their way to the bank when the proceeds come in... hmmm...
Be Heard, not the Herd
Good move, but don't wait too long. Prices may not drop as recent GLS all had record prices. For OCR, I think any new launch at $800 to $900 psf can buy. Anything above $900 psf risky. Prices won't fall to $600 psf unless major financial crisis. Then again, in financial crisis with jobs at stake, who dares to buy even if $600psf? Only the civil servants....I thought mr MBT said that those developers who bidded ultra high prices to get the land will be "punished"?
Anyway I know a few of my friends have sold their flats and are renting for now....waiting for prices to drop...wonder will it come true in 2012?
Senior
Maybe MBT himself will be 'punished' in this coming elections haa haa...
Junior
anyone dare to create a poll of his popularity lvl? He is on the ball recently nearing to the elections. Finally starting to addressing some supply on HDB issues.Maybe MBT himself will be 'punished' in this coming elections haa haa...
Bricks & Mortar
MM must be giving him a pat on his back....
Junior
he is good at making $$$ i must agree.
Junior
everywhere he goes, he makes $$ for the government but sad to say at our expense and abit overboard.
coe jumped sky high and went down real low.......no consistency & proper management of the bidding process.
hdb over supply in old days.....qick fix to the problem by stopping new supply but never think of long term social impact and population spike due to casino opening and influx of foreighers. Never read newspaper and spot thrend?
It is common sense to plan ahead for eg..next 5 - 10 years and review it every year on demand. There were signs but was ignored until the resale cov price went sky high and election round the corner.
Senior
Isn't such stories always repeated every 4 to 5 years? Just amend some minor details here and there. During the last election in 2006, HDB was busy clearing all the outstanding units with the walk-in-selection scheme with promise of BTO after that. They plunged the prices of these outstanding units so low that it was rather successful, I must say. Mostly cleared (can't remember the figures) and remaining unsold units were split in smaller units or something. So the last min efforts worked for him in that election. Now another last min effort...everywhere he goes, he makes $$ for the government but sad to say at our expense and abit overboard.
coe jumped sky high and went down real low.......no consistency & proper management of the bidding process.
hdb over supply in old days.....qick fix to the problem by stopping new supply but never think of long term social impact and population spike due to casino opening and influx of foreighers. Never read newspaper and spot thrend?
It is common sense to plan ahead for eg..next 5 - 10 years and review it every year on demand. There were signs but was ignored until the resale cov price went sky high and election round the corner.
Can't we see the pattern already???
Junior
Just like manufacturing, we need planners and schedulers not lawyers or scholars to do the job.Isn't such stories always repeated every 4 to 5 years? Just amend some minor details here and there. During the last election in 2006, HDB was busy clearing all the outstanding units with the walk-in-selection scheme with promise of BTO after that. They plunged the prices of these outstanding units so low that it was rather successful, I must say. Mostly cleared (can't remember the figures) and remaining unsold units were split in smaller units or something. So the last min efforts worked for him in that election. Now another last min effort...
This is the problem never engage the right person when making decision or carry out cross function training.
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