calls for 'timely review' of property tightening measures

[taggy]

what if govt review and implement more drastic measures?

http://www.straitstimes.com/Breaking...ry_711113.html

Redas calls for 'timely review' of property tightening measures

The Real Estate Developers Association of Singapore (Redas) said that it hopes the government will initiate a 'timely review' of the various market tightening measures.

Redas president Wong Heang Fine said at the association's Mid Autumn Festival at Shangri-la Hotel on Friday that this will help avoid artificially suppressing genuine demand for private properties here.

He added that Redas hopes that the government will continue its pragmatic approach and moderate its land sale through the reserve list.

[maisonjai]

REDAS urges govt to review property market tightening measures
By Joanne Chan | Posted: 09 September 2011

SINGAPORE: The Real Estate Developers' Association of Singapore (REDAS) has raised concerns over a potential oversupply of private homes in the near term, especially with the uncertain global outlook.

It is urging the government to review its land sales programme to ensure that new supply is introduced only when the market is confident of absorbing it.

With the possibility of demand for private homes dropping due to an economic downturn, developers are pointing to the need to rein in supply.

In the second half of this year, the government will put up for sale 17 private residential sites under the Confirmed List of the Land Sales Programme.

Including recent sites sold, an estimated 53,000 private homes will hit the market over the next few years.

To ensure a more sustainable market, REDAS wants the government to moderate its land sales by putting more sites on the Reserve List system instead of the Confirmed List.

That way, land is put up for tender only when there is sufficient interest.

REDAS president Wong Heang Fine said: "The Reserve list actually works well because all of us can actually trigger the land sales and each of us can then look at the particular site a bit more carefully.

"So the Reserve List allows some flexibility, whereas in the Confirmed List, the government would have to sell the site, irrespective of market conditions."

Group CEO of Frasers Centrepoint, Lim Ee Seng, echoed this sentiment. Mr Lim said there is "adequate" supply in the market and he does not see the need for more sites to be introduced in the near term.

For now, developers are still optimistic that demand will hold.

Kwek Leng Beng, executive chairman of City Developments, said: "I mean you put the money in the bank, you are getting very little interest. If you buy stocks and shares, volatility is so great.

"So you have (an) alternative investment asset, and I think that's good if you can diversify. But as I've emphasised, don't buy if you cannot pay."

REDAS also urged the government to review the various property cooling measures introduced so as to avoid artificially suppressing genuine demand.

While take up rates for property launches are still relatively strong, developers said market conditions could change in the next three to six months.

- CNA/cc/al
http://www.channelnewsasia.com/stori...152072/1/.html

[richwang]

Buyers need to form an association as well. We can then refuse to pay anything more than 10% premium from the Developers break even cost.

We can also invite KBW for tea and share with him how many voters we are representing.

Thanks,
Richard

[ysyap]

The clearest sign to date that developers are getting concerned! 2011 may well end on a high for ppty prices but 2012 is still a . Hmmmm...

[azeoprop]

Most probably they are more concerned on how to sell their overbidded land haa haa....

[linchong84]

he scared his bishan cannot sell at 1.5kpsf

[ysyap]

Looking at how crazy buyers in Singapore are, the Bishan plot should do pretty well lah!!! But how long more can such momentum persist? They better quickly launch that project before some measures get implemented or some thing happens.

[azeoprop]

"Developers shall be punished" as promised by MBT.

[kingkong1984]

The more they ask for

The more they will have to pay...

who ask them to be the evil one in the first place?

Take note.. they are crying for mercy before being slaughther with cheaper, better and faster BTOs.

[linchong84]

haha interesting to read the quotes of the 3 CEOs..

Can tell crapland is very scared because its bishan site might be launching in the next couple of months..

also can tell frasers scared because its punggol 1billion site not launched yet..

cdl seems quite cool abt it.. what do they have in their land bank now? empty liao ah?

[ysyap]

Let's see how these developers will respond with great deals and bargains! Biggest winners may well be the buyers or so I thought!

[flagship74]

KBW probably is worried now..all developers retreat and build housing outside sillypore

[Regulators]

For properties near mrt, there will still be buyers rushing into the showrooms like seow kao to snap up units, evident from many projects including treasure trove. Developers know that so mrt land will continue to rise in prices economic downturn or not. The only time when developers will lower prices if jobs are hit and majority of singaporeans face bread n butter issues, which I don't foresee it happening.

Let's see how these developers will respond with great deals and bargains! Biggest winners may well be the buyers or so I thought!

[wind30]

I find the developers really stupid.

What are they saying????

Is the prices going to go up or down???

One hand tell buyers say price will go up so faster buy. The other hand tell URA prices will fall so don't release land. like that also can.....

[DC33_2008]

I thought developers are telling garment to consider lifting the CMs in anticipation of the US and Euros economy as it is likely for Singapore to go into technical recession closer to the end of the year. Otherwise, market will fall badly.

I find the developers really stupid.

What are they saying????

Is the prices going to go up or down???

One hand tell buyers say price will go up so faster buy. The other hand tell URA prices will fall so don't release land. like that also can.....

[kane]

I find the developers really stupid.

What are they saying????

Is the prices going to go up or down???

One hand tell buyers say price will go up so faster buy. The other hand tell URA prices will fall so don't release land. like that also can.....

I think they are thinking they want sales momentum to relieve them from their cash drain of holding land at high prices. They could hoard units at those prices but it's totally unproductive use of capital.

[DC33_2008]

Sim Lian at ATT has already broken and make money from Friday. Local projects of large developers, CDL and Capitaland, is sure win but not overseas projects in China, Vietnam, etc..

I think they are thinking they want sales momentum to relieve them from their cash drain of holding land at high prices. They could hoard units at those prices but it's totally unproductive use of capital.

[kane]

Sim Lian at ATT has already broken and make money from Friday. Local projects of large developers, CDL and Capitaland, is sure win but not overseas projects in China, Vietnam, etc..

Those who bid for land at lower prices are still ok. Those who bid at high prices will be asking for review of cooling measures.

[DC33_2008]

It is REDAS role to wayang and speak out for the smaller developers. Big boys like FEO, CDL and Capitaland have no problem with holding.

Those who bid for land at lower prices are still ok. Those who bid at high prices will be asking for review of cooling measures.

[irisng]

Supply > Demand = Prices drop. I think this is what lots of people have in their mind. So I think govt is trying to release more lands to increase the supply of the pte ppty, hoping that the ppty market will adjust the price by itself because govt cannot control the price of the pte ppty. But what will happen if supply is so much more than demand, then it might not be so good for the economy, don't they not afraid that it might end up like USA. But what happen if the developers have the holding power, then the pte ppty market will still remain strong.

[DC33_2008]

We are not the same as US as we are smaller, etc. Garment will not allow prices to free-fall cost we will loose all our investors.

Supply > Demand = Prices drop. I think this is what lots of people have in their mind. So I think govt is trying to release more lands to increase the supply of the pte ppty, hoping that the ppty market will adjust the price by itself because govt cannot control the price of the pte ppty. But what will happen if supply is so much more than demand, then it might not be so good for the economy, don't they not afraid that it might end up like USA. But what happen if the developers have the holding power, then the pte ppty market will still remain strong.

[ysyap]

I find the developers really stupid.

What are they saying????

Is the prices going to go up or down???

One hand tell buyers say price will go up so faster buy. The other hand tell URA prices will fall so don't release land. like that also can.....

It is the agents who are telling buyers price will go up so faster buy, not the developers. It is also these same agents who are telling sellers price will come down so faster sell! Make sense?

[kane]

It is the agents who are telling buyers price will go up so faster buy, not the developers. It is also these same agents who are telling sellers price will come down so faster sell! Make sense?

They just want to churn. Dead market is bad business for them.

[Jadey]

cdl seems quite cool abt it.. what do they have in their land bank now? empty liao ah?

CDL might not have much in the land bank, but I believe Kwek's privately held hong leong holdings still own a sizable land bank in Singapore.

[DC33_2008]

I guess CDL is consolidating for the next move. Their shares are still fine even with the recent bad news from US and Euros. Should drop tomorrow.

CDL might not have much in the land bank, but I believe Kwek's privately held hong leong holdings still own a sizable land bank in Singapore.

[richwang]

One of senior managers in CapitalLand has sold his own property and rents to stay. That's the equivalent for shorting the property market.
Maybe he knows something we don't ... or he is taking action on something well known.

Thanks,
Richard

[kane]

One of senior managers in CapitalLand has sold his own property and rents to stay. That's the equivalent for shorting the property market.
Maybe he knows something we don't ... or he is taking action on something well known.

Thanks,
Richard

if you know him just ask him directly what he's thinking, then no need to second guess.

[mygeemeel]

He probably owns a few units and decided to sell one to buy a new Aston Martin?

[ysyap]

If what he knows prompted him to sell his own roof and start to rent, then it must either be really huge or he just simply dislike his current place and so decided to sell when time is still relatively good. It shouldn't be that big otherwise not only one senior management personnel will sell but the entire team. Again, with SSD, it complicates things! Seriously, selling one's house does not imply alot!

[DC33_2008]

This is not worrysome! We have to be worried if the CEO of Capitaland is selling all his properties.

One of senior managers in CapitalLand has sold his own property and rents to stay. That's the equivalent for shorting the property market.
Maybe he knows something we don't ... or he is taking action on something well known.

Thanks,
Richard