Private home sales in June drop 25% on-month

[jwong71]

what class? after 10 years EC and pte are same..

in fact in 5yrs time can sell to locals, but not foreigners..

10yrs time, can sell to all

[ysyap]

Comopare it with other "shitty" deals....people buying next door livia for 1K psf..
EC and BTO much better value for money, anyday..

Only applicable to those who qualify for BTO and EC. The rest of buyers just wait long long...

[linchong84]

Younger generation wants class these days. Private condos and EC has a difference for them.

There are some difference indeed, esp in D19 launches.. Esparina (EC) is beside buangkok MRT station, H2O (PC) is beside Fernvale LRT station hahaha! Austville (EC) has compressed marble living room and near KPE, H2O has tiles and no expressway near. And their price difference is 2xx-4xxpsf.. Nowadays mass market pte condos really substandard.. It's ok to be lousy, but if lousier than ECs then it is really ridiculous..

[ysyap]

There are some difference indeed, esp in D19 launches.. Esparina (EC) is beside buangkok MRT station, H2O (PC) is beside Fernvale LRT station hahaha! Austville (EC) has compressed marble living room and near KPE, H2O has tiles and no expressway near. And their price difference is 2xx-4xxpsf.. Nowadays mass market pte condos really substandard.. It's ok to be lousy, but if lousier than ECs then it is really ridiculous..

Go buy EC lor... wait 5 years and then reeconsider option for those who qualify... those who don't, just settle for inferior qualify private condo lah...

[linchong84]

Go buy EC lor... wait 5 years and then reeconsider option for those who qualify... those who don't, just settle for inferior qualify private condo lah...

if can buy, i would have bought 2 units of esparina with eyes closed.. keep for 5-8 years then sell also can make around 50%.. Last time hdb launched EC sites at areas not near to PCs.. But now they launch it everywhere and next to a PC.. So buy mass market condo also scared whether empty plot beside will become ec plot or not..

[ysyap]

if can buy, i would have bought 2 units of esparina with eyes closed.. keep for 5-8 years then sell also can make around 50%.. Last time hdb launched EC sites at areas not near to PCs.. But now they launch it everywhere and next to a PC.. So buy mass market condo also scared whether empty plot beside will become ec plot or not..

Even can buy also can buy 1 unit, not 2. EC is subsidized by govt or are they??? The idea behind income ceiling is because there's some form of subsidy but KBW seemed to say that if developers are involved (i.e. DBSS and EC), then its their playing field so Sim Lian could quote 880k and govt just say don't buy lor... no control at all??? What subsidy?

So if you own a HDB, you can't qualify to buy EC? If you own a PC, also don't qualify for EC?

[DC33_2008]

10-yr is a long time. They can upgrade fm ocr to city fringe. 10 yrs ago, one can even upgrade to landed.

what class? after 10 years EC and pte are same..

[irisng]

Even can buy also can buy 1 unit, not 2. EC is subsidized by govt or are they??? The idea behind income ceiling is because there's some form of subsidy but KBW seemed to say that if developers are involved (i.e. DBSS and EC), then its their playing field so Sim Lian could quote 880k and govt just say don't buy lor... no control at all??? What subsidy?

So if you own a HDB, you can't qualify to buy EC? If you own a PC, also don't qualify for EC?

So if you have a EC, I presume you can buy the PC, right?

[jwong71]

Only applicable to those who qualify for BTO and EC. The rest of buyers just wait long long...

sway for buyers who qualify for EC, but bgt condo. before EC was launch

[linchong84]

10-yr is a long time. They can upgrade fm ocr to city fringe. 10 yrs ago, one can even upgrade to landed.

No need 10 years lah.. after 5 years MOP can sell liao cos their main market are singaporeans and PRs, not foreigners.. their volume quite good also, EC's transaction volume as % to their total number is higher than PC's volume as % in 2010..

Besides 8-10k income people will need time to save up also lah.. 5 years MOP time just nice enough for them to save up and sell it with good profits to buy something better.. Or even buy a second property..

[ysyap]

So if you have a EC, I presume you can buy the PC, right?

So which is more lucrative? Own a HDB and then buy PC or own an EC and then buy PC?

[irisng]

So which is more lucrative? Own a HDB and then buy PC or own an EC and then buy PC?

I think both also okay, as long as it can contribute to your revenue.

[evergreen]

Near Potong Pasir?

Woodleigh mrt

[DC33_2008]

Good Buy! This one can keep.

Woodleigh mrt

[ysyap]

Woodleigh mrt

8@Woodleigh studio? or Blossom? 490k? Wah.... super cheap! Congrats!

[DC33_2008]

Wait for development at the two huge fields.

[ysyap]

Wait for development at the two huge fields.

At least 2 more years depending on market movements!

[sleek]

Suites@Bradell? What size?

Woodleigh mrt

[linchong84]

8W and blossom cant be 8xxpsf now.. and they are not 8min walk..

[evergreen]

Ya, I bought Suites @ Braddell. 398 sq ft, $490K. There are slightly smaller 388 sq ft units at $47xK.

The open field near the MRT seems to be for HDB, according to streetdirectory.com

[ysyap]

Ya, I bought Suites @ Braddell. 398 sq ft, $490K. There are slightly smaller 388 sq ft units at $47xK.

The open field near the MRT seems to be for HDB, according to streetdirectory.com

So to get to MRT, you have to cross the huge Braddell Road? Does the 8 mins include waiting at those super long traffic junctions? Do you think walking to Serangoon MRT, though slightly longer might well be faster?

[evergreen]

I didn't have to wait long for traffic light to turn in my favour when I tried walking. Can use overhead bridge to cross Braddell Road. But still need to cross Upper Serangoon Road. So might as well just cross at the X junction.

Serangoon MRT is much further away. But can take a bus if I don't want to walk.

[ysyap]

I have concerns about the entrance and exit points of this project if driving. Its quite tight because that road is consistently heavy. Especially for vehicles turning left into Serangoon Road, the vehicle queue sometimes stretches to the entrance of this project so going home must also queue up?

[evergreen]

You are right about the traffic. But fringe area is usually like that. Either you queue to get home or you drive a longer way to get home and still have to deal with the traffic somewhere.

[mr funny]

http://www.straitstimes.com/PrimeNew...ry_691100.html

Jul 16, 2011

New private home sales dive

June sales fall 25% amid economic slowdown, concerns of oversupply

By Esther Teo, Property Reporter


NEW private home sales fell sharply to a four-month low last month, a traditionally slow month, as buying sentiment waned amid an economic slowdown and warnings of potential oversupply.

Buyers seem to have heeded the call for caution with the number of units sold last month slowing 25 per cent to 1,182 units from the 1,575 units sold in May - which was down from 1,805 in April.

Including executive condos, a total of 1,394 homes found buyers in June, according to the figures released by the Urban Redevelopment Authority.

Experts say despite the latest fall, the numbers still represent a healthy market.

However, they say the possibility of more housing market policy changes by the Government and global economic concerns will throw further caution into the mix in the coming months.

The quieter June school holiday period, policies to boost new Housing Board (HDB) flat supply and greater buyer resistance to rising home prices combined to take the wind out of the sails of the private home market last month, they said.

The appointment of new National Development Minister Khaw Boon Wan with his regular housing market updates and suggestions on policy changes has also affected buyer sentiment, Dr Chua Yang Liang, head of research at Jones Lang LaSalle South-east Asia, said.

'The buyer's market is responding with a more moderated demand for two consecutive months. Homebuyers are holding back their purchases, confident that the new minister's leadership would bring home prices to a more affordable level in the near future,' he added.

PropNex corporate communications manager Adam Tan said the HDB's move to build 25,000 new flats this year may have prompted some potential first-time buyers in the middle-income bracket to switch to the public housing market.

'Furthermore, with more than 10,000 new private homes expected to enter the market in the second half of this year, consumers may be waiting for more choices in other locations across the island.'

Cushman & Wakefield's senior manager of Asia-Pacific research, Mr Ong Kah Seng, however, noted that monthly sales of between 1,000 and 1,500 units reflect healthy and moderate buying interest.

'The slowdown of sales activity in June shows that together with an expected economic slowdown, there may be potential for homebuying interest to (reach) a steady state about half a year after the last round of cooling measures.'

However, the Government is likely to continue watching the market closely for signs of overheating.

AmFraser Securities equity analyst Lau Wei Chong said the Government will track closely the suburban segment, in particular, to ensure buyers do not overstretch themselves. If this segment stays buoyant, more market cooling measures might be unveiled in the coming months.

Suburban homes continued to power home sales - making up 70 per cent of June's total sales. They are also expected to continue making up the bulk of new launches for the rest of this year.

Experts, however, said that developers will have to price their projects more reasonably as the increased supply will mean that buyers are now more selective.

Mr Ong Teck Hui, Credo Real Estate's head of research and consultancy, said buyers are likely to become more cautious. He said sentiment was being affected by news of the protracted debt problems in Europe, a waning US economy and slower than expected growth here.

Dr Chua said buying activity is likely to remain modest at between 1,000 and 1,200 units while PropNex's Mr Tan expects about 1,400 units sold this month.

Last month's top-selling projects include Woodhaven with 155 units sold at a median price of $981 per sq ft (psf) and The Miltonia Residences, which found buyers for 149 units at $877 psf.

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[CCR]

Actually it is healthy for the market.... Take a breather....

[hyenergix]

You are right about the traffic. But fringe area is usually like that. Either you queue to get home or you drive a longer way to get home and still have to deal with the traffic somewhere.

That's why I assume you are not driving. If you are, you will avoid this project if for self-stay. The traffic jam is simply horrible as it stretches all the way to the underpass or near the Shell station during peak hour. You see a lot of angry/impatient drivers at the queue.

[ysyap]

That's why I assume you are not driving. If you are, you will avoid this project if for self-stay. The traffic jam is simply horrible as it stretches all the way to the underpass or near the Shell station during peak hour. You see a lot of angry/impatient drivers at the queue.

So if I'm also an angry impatient drive, better avoid this project at all cost. Wait for the Bartley plot to launch.. less congested and nearer to MRT.

[evergreen]

I take car to work. At 7.30am roads are jammed or have heavy traffic already except if it's the school holidays. Mrt also packed. Singapore is "crowding" up!

[ysyap]

Either you depart for work at 7am or depart at 10am. Anything in-between is .