2013: Market crash or ghost towns?

[linchong84]

Actually Tamp is a good place to stay if one loves lots of shopping centres and works in changi business park..

Haha.. I think "DBSS is not HDB" should be shortlisted as one of the quotes of the year..

[ysyap]

Actually Tamp is a good place to stay if one loves lots of shopping centres and works in changi business park..

Haha.. I think "DBSS is not HDB" should be shortlisted as one of the quotes of the year..

Classic quote on par with 'I think healthcare is actually quite low and quite manageable in Singapore'.

[kane]

Sim Lian Group Ltd wishes to announce the confirmed price range for Centrale 8 at Tampines:

It is regrettable that during the application period, the media and members of the public did not take note of our repeated public emphasis that the price range which we had announced was only an indicative price range, and would not be the final sale prices for the respective types of flat units.

In view of the interests in Centrale 8 at Tampines, we are pleased to announce the confirmed price range for this DBSS project as follows:
3 Room $389,000 to $445,000
4 Room $511,000 to $592,000
5 Room $685,000 to $778,000

We have taken due consideration of the following criteria in determining the confirmed price range:
1) Resale prices of HDB flats in the same vicinity (taking into account the age and location) ;
2) Prevailing economic conditions ;and
3) Proximity to transport network, good public facilities and other amenities.
Applicants who have successfully submitted their online applications will be able to check the price of each individual unit on 2nd and 3rd July 2011 at the showflat.

===============================================

the prices are out.

[linchong84]

Sim Lian Group Ltd wishes to announce the confirmed price range for Centrale 8 at Tampines:

It is regrettable that during the application period, the media and members of the public did not take note of our repeated public emphasis that the price range which we had announced was only an indicative price range, and would not be the final sale prices for the respective types of flat units.

In view of the interests in Centrale 8 at Tampines, we are pleased to announce the confirmed price range for this DBSS project as follows:
3 Room $389,000 to $445,000
4 Room $511,000 to $592,000
5 Room $685,000 to $778,000

We have taken due consideration of the following criteria in determining the confirmed price range:
1) Resale prices of HDB flats in the same vicinity (taking into account the age and location) ;
2) Prevailing economic conditions ;and
3) Proximity to transport network, good public facilities and other amenities.
Applicants who have successfully submitted their online applications will be able to check the price of each individual unit on 2nd and 3rd July 2011 at the showflat.

===============================================

the prices are out.

LOL.. where u see one? where's the source?

[hyenergix]

At these prices, ECs are still much better buys. Wait for later launches.

[Andrew76]

Classic quote on par with 'I think healthcare is actually quite low and quite manageable in Singapore'.

One more? "World class opposition"

[azeoprop]

Sim Lian Group Ltd wishes to announce the confirmed price range for Centrale 8 at Tampines:

It is regrettable that during the application period, the media and members of the public did not take note of our repeated public emphasis that the price range which we had announced was only an indicative price range, and would not be the final sale prices for the respective types of flat units.

In view of the interests in Centrale 8 at Tampines, we are pleased to announce the confirmed price range for this DBSS project as follows:
3 Room $389,000 to $445,000
4 Room $511,000 to $592,000
5 Room $685,000 to $778,000

We have taken due consideration of the following criteria in determining the confirmed price range:
1) Resale prices of HDB flats in the same vicinity (taking into account the age and location) ;
2) Prevailing economic conditions ;and
3) Proximity to transport network, good public facilities and other amenities.
Applicants who have successfully submitted their online applications will be able to check the price of each individual unit on 2nd and 3rd July 2011 at the showflat.

===============================================

the prices are out.

Maybe that 880k thing was a marketing gimmick to attract attention. Now dropped to 778k people will feel that it is cheap and buy buy buy!

[kane]

LOL.. where u see one? where's the source?

sgx website, under their corporate announcement.

[kane]

Maybe that 880k thing was a marketing gimmick to attract attention. Now dropped to 778k people will feel that it is cheap and buy buy buy!

maybe, just maybe...

[linchong84]

they never reduce enough leh.. 650-750k will be more decent..

[Andrew76]

publicity must be so bad that SL think it's important to make a SGX announcement on the confirmed pricing. Do not recall they doing that in 2009 for the Premiere launch?

[kane]

they never reduce enough leh.. 650-750k will be more decent..

the new price ranges at least doesn't seem totally out of this world, now it's up to the buyers to be cautious about how much they are paying for it. like someone else mentioned, when 5 years MOP is up, they will be competing for buyers against other nicer BTO owners who possibly have the place dressed with ID from ceiling to floor and yet can afford to ask for a lower price.

[rattydrama]

maybe, just maybe...

with all the restrictions, EC to be built by them should still be a better buys (10 yr can sell to foreigners) but must must look at the launch price again.

well, I think this forum is powerful....see point a) resale prices of HDB flats in the same vicinity (taking into account the age and location).

I think we discussed somewhere here that resale price is 150 to 400k difference from their 880k saga. We are heard.

Sim Lian in the past tender alot of HDB building contracts directly from HDB and I think they should not "offend" HDB..... Probably top down pressure from HDB on them.

At least they are still local contractors, still got some "heart" for locals... suck thumb and move on....

[rattydrama]

they never reduce enough leh.. 650-750k will be more decent..

I want my private ppty prices to go up another 10% by this year. So go ahead for 750K at least I know my private will have willing takers .......

[linchong84]

At least they are still local contractors, still got some heart for locals.

bro.. SL is now famous for being champion in 2 areas (1) launched high indicative price to test market reaction. (2) land banking champion to catch higher profits.

With gold medals in these 2 areas, what heart for locals are you talking about? haha..

[kane]

publicity must be so bad that SL think it's important to make a SGX announcement on the confirmed pricing. Do not recall they doing that in 2009 for the Premiere launch?

premiere launched at around 400+k for the 5rm, existing resale then was around 300+k, ECs around the island was bordering on 600+k. so the price hierachy was still in order.

fast forward to today, high 400+k resale, brand new if it was 800+k, ECs around the island also around 800+k. this combination would have been totally out of whack.

therefore, everything is relative and doesn't exist in a vacuum.

[rattydrama]

bro.. SL is now famous for being champion in 2 areas (1) launched high indicative price to test market reaction. (2) land banking champion to catch higher profits.

With gold medals in these 2 areas, what heart for locals are you talking about? haha..

(1) I dont quite buy the idea of test market theory..in one of the TV interview, SL MD was confident of their market price due to its locations... now tone changed?

(2) well land banking should stop.. this I agree. Dont play with HDBs, play private and investor cannot complaint.

HDB flats cater for the majority and relatively first time buyer. These buyers only need a roof. They have little experience on ppty investment perhaps this is their one and only property whole of their life. So developer should think twice before playing.

SL got heart for existing home owners .....existing property owner is happy with him.... DBSS 700k and yet so small...

If you meet one china con... sikali scare the shit out of it and reduce 40% n cut away all corners...tml all our prices plummet.

[ysyap]

It is rather irritating to read that SL actually said, 'it is regrettable that...' as if the public misunderstood them. Indicative prices are meant to indicate what the prices are therefore all the media will report as indicated and people will perceive that it is gonna be near those prices. Now they turn around and say its people's fault for all those negative perception and publicity they received!!! How can it be regrettable when they were the ones to issue those figures! Hmmm... even at $778k for a HDB new launch, it is still indeed regrettable not to be any lower for public housing!

[kane]

In order to avoid any future regrettable incidents of misunderstanding of prices. I suggest that for dbss, developers quote firm offers upfront.

[kingkong1984]

It is rather irritating to read that SL actually said, 'it is regrettable that...' as if the public misunderstood them. Indicative prices are meant to indicate what the prices are therefore all the media will report as indicated and people will perceive that it is gonna be near those prices. Now they turn around and say its people's fault for all those negative perception and publicity they received!!! How can it be regrettable when they were the ones to issue those figures! Hmmm... even at $778k for a HDB new launch, it is still indeed regrettable not to be any lower for public housing!

Dun worry, it will be part of the new cooling measures.

Maybe Max psf price cannot be more than 2x of bidded land price or something. 1.5 or 2.5 is better?

[hyenergix]

If the salary ceiling is not raised in time for the launch, then the take-up rate will be quite low for the 4 or 5 bedroom units.

[linchong84]

Dun worry, it will be part of the new cooling measures.

Maybe Max psf price cannot be more than 2x of bidded land price or something. 1.5 or 2.5 is better?

2 times??!! Then no developer will bid liao...

imagine they got a plot at 250psf, construction cost 150psf, marketing/loan interest/admin expenses 50psf.. so they make 50psf only?! who will want to waste time.. might as well concentrate their capital and bids on pte plots..

[amk]

imo DBSS should just be scrapped. it's a failed experiment. pte developers are driven by profit. the truth is, even at 800k, there WILL be demand, and profit can be made. Ppl are complaining because they perceive (yet again) HDB is supposed to be cheap, pte built or not. There are ppl who prefer a 800k brand new HDB with AC/wardrobe/etc buildin in mature estate over a 700k resale in the same mature estate. (imagine u take a mortgage on ur "renovation cost") And as a pte developer, it will be irresponsible and unfair to the shareholder not to take profit from this demand. It's not the pte developers to shoulder the social responsibility.

on the other hand, many ppl really treat BTO HDBs in mature estate as a jackpot for a guaranteed 2/300k profit

[august]

imo DBSS should just be scrapped. it's a failed experiment. pte developers are driven by profit. the truth is, even at 800k, there WILL be demand, and profit can be made. Ppl are complaining because they perceive (yet again) HDB is supposed to be cheap, pte built or not. There are ppl who prefer a 800k brand new HDB with AC/wardrobe/etc buildin in mature estate over a 700k resale in the same mature estate. (imagine u take a mortgage on ur "renovation cost") And as a pte developer, it will be irresponsible and unfair to the shareholder not to take profit from this demand. It's not the pte developers to shoulder the social responsibility.

on the other hand, many ppl really treat BTO HDBs in mature estate as a jackpot for a guaranteed 2/300k profit

yes agree, both DBSS and EC schemes should be tweaked:
EC - extend to 10 yrs before getting private status
DBSS - scrap it completely. it is an example of govt outsourcing its responsibility to private sector and boost revenue from land sales along the way

[ysyap]

imo DBSS should just be scrapped. it's a failed experiment. pte developers are driven by profit. the truth is, even at 800k, there WILL be demand, and profit can be made. Ppl are complaining because they perceive (yet again) HDB is supposed to be cheap, pte built or not. There are ppl who prefer a 800k brand new HDB with AC/wardrobe/etc buildin in mature estate over a 700k resale in the same mature estate. (imagine u take a mortgage on ur "renovation cost") And as a pte developer, it will be irresponsible and unfair to the shareholder not to take profit from this demand. It's not the pte developers to shoulder the social responsibility.

on the other hand, many ppl really treat BTO HDBs in mature estate as a jackpot for a guaranteed 2/300k profit

With 5 year MOP, any private condo also has the potential to appreciate by 200k. But BTO is indeed a great help to those who are not well off to get that same profit margin as the richer investor. Then again BTO should never be viewed as the profit generating machine. Wat about DBSS? Can it be viewed with profit in mind, since our dear Mr K said DBSS is not HDB???

[ysyap]

yes agree, both DBSS and EC schemes should be tweaked:
EC - extend to 10 yrs before getting private status
DBSS - scrap it completely. it is an example of govt outsourcing its responsibility to private sector and boost revenue from land sales along the way

Agreed that DBSS is really a no brainer! Why must there be such a thing? Sell BTO cheap then leave the interior design to the buyers. If buyers of DBSS is willing to pay some $200k more than a BTO, then let them buy a BTO and save $200k and pay $80k more for a detailed and elaborate renovation. Really don't understand govt's rationale for DBSS. As if buyers don't know how to engage a ID to do up their interior and prefer to have same design with their neighbours?

[devilplate]

yes agree, both DBSS and EC schemes should be tweaked:
EC - extend to 10 yrs before getting private status
DBSS - scrap it completely. it is an example of govt outsourcing its responsibility to private sector and boost revenue from land sales along the way

BTW, EC oredi got 10yr restriction....after 5yr MOP only can sell to PR/Singapore....or u mean shd only sell to singaporeans after 5yr MOP?
DBSS shdnt exist in the first place

we only need cheap BTOs in ulu locations and occasionally premium BTOs in city fringe areas

EC shd be sufficient for sandwiched class....

raised bto to 10k and EC to 12k and scrap DBSS.....shut everybody mouth n life move on

[august]

BTW, EC oredi got 10yr restriction....after 5yr MOP only can sell to PR/Singapore....or u mean shd only sell to singaporeans after 5yr MOP?
DBSS shdnt exist in the first place

we only need cheap BTOs in ulu locations and occasionally premium BTOs in city fringe areas

EC shd be sufficient for sandwiched class....

raised bto to 10k and EC to 12k and scrap DBSS.....shut everybody mouth n life move on

oh wait, u mean EC currently is 10 yrs to get private status?
heck, extend to 15 yrs then!

[devilplate]

oh wait, u mean EC currently is 10 yrs to get private status?
heck, extend to 15 yrs then!

err...actually i am ok wif this 10yr restriction....bcoz EC is build n priced by pte developers anyway....

i only not happy to see PR to buy resale flats n rent it out after MOP n stay in condo!

shd disallow PR to invest in condo after they bot resale flats....if they buy pte ppty, they MUST sell HDB away....only locals allow to keep after MOP period

singapore MAN served 2yrs+10yrs reservist!!! making so much sacrifices to the country and yet receiving very little advantage over PRs

[ysyap]

oh wait, u mean EC currently is 10 yrs to get private status?
heck, extend to 15 yrs then!

Think remain as 10 years but increase MOP to 8 years for EC then it will also not be a money churning machine!