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Thread: Resale prices of private homes continue to rise

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    Default Resale prices of private homes continue to rise

    Resale prices of private homes continue to rise
    By Mustafa Shafawi | Posted: 28 June 2011 1417 hrs

    SINGAPORE: Resale prices of private homes continue to rise in the second quarter of this year.

    According to DTZ Research, resale prices of private residential properties increased at a faster rate across all segments in the second quarter of this year compared to the first.

    It says the average resale price of leasehold condominiums in the suburban areas rose the fastest by 3.9 per cent on-quarter, compared to 0.8 per cent in the first quarter.

    The average resale price of freehold condominiums in the prime districts of 9, 10 and 11 grew by 3.3 per cent on-quarter compared to 0.4% per cent in the first quarter, based on a basket of completed condominiums tracked by DTZ Research.

    The average resale price of luxury condominiums rose the least at 1.7 per cent.

    But DTZ Research said it reflected an increase over the flat prices registered in the first quarter.

    This it said is the only segment with prices still below the 2007 peak.

    Ms Chua Chor Hoon, Head of DTZ South East Asia Research, said prices continue to trend upwards because sellers are benchmarking against the prices of new launches.

    - CNA/fa
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    the way its written, it sounds a bit alarming leh. like MBT's CM4 cooled off for Q1 then after that bochap liao. maciam begging for CM5 like that.


    Quote Originally Posted by sleek
    Resale prices of private homes continue to rise
    By Mustafa Shafawi | Posted: 28 June 2011 1417 hrs

    SINGAPORE: Resale prices of private homes continue to rise in the second quarter of this year.

    According to DTZ Research, resale prices of private residential properties increased at a faster rate across all segments in the second quarter of this year compared to the first.

    It says the average resale price of leasehold condominiums in the suburban areas rose the fastest by 3.9 per cent on-quarter, compared to 0.8 per cent in the first quarter.

    The average resale price of freehold condominiums in the prime districts of 9, 10 and 11 grew by 3.3 per cent on-quarter compared to 0.4% per cent in the first quarter, based on a basket of completed condominiums tracked by DTZ Research.

    The average resale price of luxury condominiums rose the least at 1.7 per cent.

    But DTZ Research said it reflected an increase over the flat prices registered in the first quarter.

    This it said is the only segment with prices still below the 2007 peak.

    Ms Chua Chor Hoon, Head of DTZ South East Asia Research, said prices continue to trend upwards because sellers are benchmarking against the prices of new launches.

    - CNA/fa

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    Quote Originally Posted by bargain hunter
    the way its written, it sounds a bit alarming leh. like MBT's CM4 cooled off for Q1 then after that bochap liao. maciam begging for CM5 like that.
    Q2 HDB COV up, and now this. KBW is going to be busy.

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    Quote Originally Posted by bargain hunter
    the way its written, it sounds a bit alarming leh. like MBT's CM4 cooled off for Q1 then after that bochap liao. maciam begging for CM5 like that.
    I oredi mentioned tat resale asking px is very similar to new launches recently....

    Obviously sellers got holding power now due to low int rates and buyers no choice ?

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    Quote Originally Posted by avo7007
    Q2 HDB COV up, and now this. KBW is going to be busy.
    He seems to b enjoying it....perhaps he is a ppty enthus like us? Hehe

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    50% LTV coming.. Maybe 20/15/10/5% SSD.. This should do the trick for OCR.. If new launch continue to huat while only resale suffer, then slap new launch with 20/15/10/5/5/5.. this will definitely do it..

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    Quote Originally Posted by linchong84
    50% LTV coming.. Maybe 20/15/10/5% SSD.. This should do the trick for OCR.. If new launch continue to huat while only resale suffer, then slap new launch with 20/15/10/5/5/5.. this will definitely do it..
    No lor...i find tat resale px is closing the gap wif new launches for ocr liao....meaning to say ocr px is stabilising...

    I am waiting for some power packed rcr locatiojs to laumch leh....my rcr nvr move leh

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    Quote Originally Posted by linchong84
    50% LTV coming.. Maybe 20/15/10/5% SSD.. This should do the trick for OCR.. If new launch continue to huat while only resale suffer, then slap new launch with 20/15/10/5/5/5.. this will definitely do it..
    KBW should come up with more innovative measures other than 50% LTV lah. I had suggested a "Developer stamp duty" in the following order for new launches:

    0% - units sold within 1 year
    4% - units sold after 1 year
    8% - units sold after 2 years
    12% - units sold after 3 years
    16% - units sold after 4 years

    To counter resale COV, slap a 90% capital gains tax on sale of resale flats by PR, unless another HDB unit is bought within 6 mths. This tax would be waived if the PR converts to SG citizen. Win-win for all except screwed PRs.... haha

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    Quote Originally Posted by yaozong7
    KBW should come up with more innovative measures other than 50% LTV lah. I had suggested a "Developer stamp duty" in the following order for new launches:

    0% - units sold within 1 year
    4% - units sold after 1 year
    8% - units sold after 2 years
    12% - units sold after 3 years
    16% - units sold after 4 years

    To counter resale COV, slap a 90% capital gains tax on sale of resale flats by PR, unless another HDB unit is bought within 6 mths. This tax would be waived if the PR converts to SG citizen. Win-win for all except screwed PRs.... haha
    most developers launch their projects within 1 year, esp OCR where the prices need some curbing.. Anyway, u slap developer no use because the fact is buyers are continuing to buy at high prices, eg look at foresque and terrasse.. govt should slap buyers to wake them up haha.. but of course nobody hopes for that lah......

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    There are 2 groups of people

    1) The property owners already in the market. This is one happy group of people. Prices still creeping up despite all the measures and everyone trying to talk down the market.

    2) The second group for the ones still waiting for the market to "crash" in order to enter the market.

    If the 2nd group has been holding back amidst all the noise since the last couple of CMs, they have lost out already. I'm guessing prices has gone up by 20% since CM3? Will the prices "correct" by 20% if it does? It goes back the price before CM3 They still lose

    My point is... you can't time the market perfectly.... enter when you find a gem and not be overstretched. In the long run, you'll be fine...

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    Good news for some of us who focus on the resale market

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    Quote Originally Posted by sh
    There are 2 groups of people

    1) The property owners already in the market. This is one happy group of people. Prices still creeping up despite all the measures and everyone trying to talk down the market.

    2) The second group for the ones still waiting for the market to "crash" in order to enter the market.

    If the 2nd group has been holding back amidst all the noise since the last couple of CMs, they have lost out already. I'm guessing prices has gone up by 20% since CM3? Will the prices "correct" by 20% if it does? It goes back the price before CM3 They still lose

    My point is... you can't time the market perfectly.... enter when you find a gem and not be overstretched. In the long run, you'll be fine...
    you have missed out, the 3rd group already cash out 30-40% profits,and got the time to wait for other opportunties, since they alrdy made the monies to grow elsewhere

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    Quote Originally Posted by jwong71
    you have missed out, the 3rd group already cash out 30-40% profits,and got the time to wait for other opportunties, since they alrdy made the monies to grow elsewhere
    Cm5 should look at the how developers bid for land. Most individual investors are sidelined by now. Higher SSD are likely to have a very marginal impact on resale prices, because the latest transaction prices are possibly reflective of real demand. I can't imagine many investors willing to punt with 4 years of punitive SSD.

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    Our PM Lee already made it very obvious in Indonesia:

    If US gets its house in order, 'it will help ease inflation in region' ... said Prime Minister Lee Hsien Loong yesterday

    It is a problem for all Asian tigers, China & India ... not just Singapore

    There will be CM5, CM6, CM7, CM8 as long as US cannot get their house in order, low interest rate and high inflation rate is here to stay
    Ride at your own risk !!!

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    For the property market, I think HongKong's today is Singapore's tomorrow...

    My Hong Kong friend said, Singapore level is still far away from Hong Kong's 50% level.

    This is really a crazy world.

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    Quote Originally Posted by phantom_opera
    Our PM Lee already made it very obvious in Indonesia:

    If US gets its house in order, 'it will help ease inflation in region' ... said Prime Minister Lee Hsien Loong yesterday

    It is a problem for all Asian tigers, China & India ... not just Singapore

    There will be CM5, CM6, CM7, CM8 as long as US cannot get their house in order, low interest rate and high inflation rate is here to stay
    when US gets their house in order, the more immediate reaction is a rally across all assets. only when things get stale there do we get the bust and cooling.

    what does hong kong's 50% level mean?

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    The problem is that the probability is very low that US can get its house in order in next few years. The expectation of close to zero growth in US in the next few years is again reflected in 10y US bond yield, investors are willing to accept less than 3% interest for 10y bond

    Ride at your own risk !!!

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    Quote Originally Posted by phantom_opera
    The problem is that the probability is very low that US can get its house in order in next few years. The expectation of close to zero growth in US in the next few years is again reflected in 10y US bond yield, investors are willing to accept less than 3% interest for 10y bond

    investors are really desperate for yield. singapore's yield is even worst if i remember correctly, that's why there's some truth in a recent article that people are forced to consider property as an investment due to lack of reasonable yield returns from other asset classes.

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    Quote Originally Posted by kane
    investors are really desperate for yield. singapore's yield is even worst if i remember correctly, that's why there's some truth in a recent article that people are forced to consider property as an investment due to lack of reasonable yield returns from other asset classes.
    10y SGS yield is ridiculous at 2.29%, if they peg your CPF SA/RA to 10ySGS +1%, you are going to get only 3.29% instead 4% now

    The 5y SGS is laughable at 1.01% ... at least HDB offers 1.68%

    And M3 expanded by 100% since May 2005 ... whereas it is only 20% growth from 2000 to 2005, 50-56% from 1995-2000 as well as 1990-1995
    Last edited by phantom_opera; 28-06-11 at 21:24.
    Ride at your own risk !!!

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    Quote Originally Posted by linchong84
    50% LTV coming.. Maybe 20/15/10/5% SSD.. This should do the trick for OCR.. If new launch continue to huat while only resale suffer, then slap new launch with 20/15/10/5/5/5.. this will definitely do it..
    aiyah make it more firm.. buying 2nd prop 10 strokes of cane and 1mth jail. for 1s time offender.

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    Quote Originally Posted by phantom_opera
    10y SGS yield is ridiculous at 2.29%, if they peg your CPF SA/RA to 10ySGS +1%, you are going to get only 3.29% instead 4% now

    The 5y SGS is laughable at 1.01% ... at least HDB offers 1.68%

    And M3 expanded by 100% since May 2005 ... whereas it is only 20% growth from 2000 to 2005, 50-56% from 1995-2000 as well as 1990-1995
    at such ridiculous yields and no thanks to minibonds, where else can people park their cash to withstand the attrition of inflation? we encourage people to better manage their own finances, so when it comes to the final selection across asset classes, what choices are they left with?

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    NEW YORK (Dow Jones)– The U.S. is facing a long period of slow growth and high unemployment unless it can get its fiscal house in order, said noted economist John Taylor in an interview with The Wall Street Journal.

    The odds of the U.S. falling back into recession in the next 18 months are “low,” but recent stimulus and monetary policy measures such as the Federal Reserve’s bond-buying program, known as quantitative easing, are not helping.

    => US will become another Japan, near zero growth for years to come. This will be a big big big problem for countries like SG/HK with interest rate pegged to US Fed rate.
    Ride at your own risk !!!

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    Quote Originally Posted by phantom_opera
    NEW YORK (Dow Jones)– The U.S. is facing a long period of slow growth and high unemployment unless it can get its fiscal house in order, said noted economist John Taylor in an interview with The Wall Street Journal.

    The odds of the U.S. falling back into recession in the next 18 months are “low,” but recent stimulus and monetary policy measures such as the Federal Reserve’s bond-buying program, known as quantitative easing, are not helping.

    => US will become another Japan, near zero growth for years to come. This will be a big big big problem for countries like SG/HK with interest rate pegged to US Fed rate.
    that interest rate hike won't be coming as soon as many expected if that's the case.

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    Default http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1137702/1/.html

    Non-landed private home prices up 2.5% in May
    By Jonathan Peeris | Posted: 28 June 2011 2208 hrs

    SINGAPORE : Non-landed private home prices in Singapore continued its uptrend in May, rising 2.5 per cent from April.

    The National University of Singapore's Singapore Residential Price Index (SRPI) showed that the month-on-month increase in the overall index in May was sharper than the 1.1 per cent rise the month before.

    NUS's price index for properties in the central area jumped 3.5 per cent in May, while non-central properties showed a 1.7 per cent increase. These compared with March's rise of 1.0 per cent and 1.2 per cent respectively.

    The SRPI is a transactions-based index that tracks the month-on-month price movements of private, non-landed residential properties in Singapore.

    Compiled by the NUS Institute of Real Estate Studies, the index covers completed non-landed properties in the central and non-central regions.

    - CNA/al
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    time to bring forward more land sales.

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    Quote Originally Posted by phantom_opera
    => US will become another Japan, near zero growth for years to come. This will be a big big big problem for countries like SG/HK with interest rate pegged to US Fed rate.
    That's what i've been saying all this while. We are in the era of ultra low interest rate environment, asset inflation is inevitable.

    To counter this, central banks in SG/HK can only use admin methods. LTV50% will come in SG sooner or later. What follows will be multiple loan restriction. U cannot control interest rate, u restrict lending directly. SG at least has HDB so it can moderate the market directly. HK cannot. That's why HK now is contemplating reintroduction of public housing scheme, SG style, after 15 yrs.

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    Quote Originally Posted by kane
    time to bring forward more land sales.
    Actually the root cause is due to the fact tat developers r allowed to sell off the plans.....tats y sg got nice boom bust ppty cycle

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    Quote Originally Posted by amk
    That's what i've been saying all this while. We are in the era of ultra low interest rate environment, asset inflation is inevitable.

    To counter this, central banks in SG/HK can only use admin methods. LTV50% will come in SG sooner or later. What follows will be multiple loan restriction. U cannot control interest rate, u restrict lending directly. SG at least has HDB so it can moderate the market directly. HK cannot. That's why HK now is contemplating reintroduction of public housing scheme, SG style, after 15 yrs.
    Prohibiting sgd based loan for foreigners vy likely to happen soon

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    Quote Originally Posted by devilplate
    Actually the root cause is due to the fact tat developers r allowed to sell off the plans.....tats y sg got nice boom bust ppty cycle
    all the small developers can eat grass if they have to sell on completed buildings. if that is the case, the buyers may not be at an advantage as the oligopolistic structure by the bigger size developers with holding power results in less competitive pricing.

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    All these writers are probably anti property investment. Knn for nothing create a stir for kbw to come up with more cm. I think all these writers miss all the property boats just like the st journalist gladys

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