Junior
There are better buys elsewhere.Originally Posted by rattydrama
I know of a developer has up the price by 20% in six months..quitely..not in Sg...
this shall be the type of properties to buy where no one noticed it is going up quitely...and before the PRC moved in big scale....
BTW, also consider the loan in what sort of currency
Junior
SG developer is buying up lands at good location recently while gov satisfying the needs and wants of the locals & new singapreans in lulu places.
Chinese will surely buy @ whatever price the developer asked for the location. Buy now, keep them and sell later.......may not be wise to liquidate all...
Loan can be in other currency for SG property meh?
Exalted
i dun tink possible if we buy local ppty wor....anyway y wud u want to borrow in other currency? our int rate world LOWEST
except for Japan? japan mortgage rates lower den us?
Junior
An Abundance of Homes
This month, HDB brings you a joint bumper launch of 8200+ flats! Choose from either the Build-to-Order exercise with 5,415 units or the Sale of Balance Flats exercise with 2,847 units.
Under the Build-To-Order exercise, choose from 7 projects - Waterway Brooks and Waterway Woodcress in Punggol, Anchorvale Harvest and Fernvale Rivergrove in Sengkang, Yio Chu Kang Vista in Ang Mo Kio, Teban View in Jurong East and Golden Peony in Jurong West. Offering a wide range of Studio Apartments, 3-room, 4-room and 5-room flats, pick one to suit your lifestyle needs!
Under the Sales of Balance Flats exercise, choose from units located across 15 towns in Ang Mo Kio, Bukit Merah, Bukit Panjang, Clementi, Hougang, Jurong East, Jurong West, Kallang/Whampoa, Punggol, Queenstown, Sembawang, Sengkang, Tampines, Woodlands and Yishun. Pick from a range of Studio Apartments, 2-room, 3-room, 4-room and 5-room flats.
Junior
Laguna raised a point which I dont quite understand.i dun tink possible if we buy local ppty wor....anyway y wud u want to borrow in other currency? our int rate world LOWEST
except for Japan? japan mortgage rates lower den us?
interestingly I got a loan which is SOR +0.5% with saving int 0.8%. So for 2 years, bank is paying me 0.175%.
Exalted
got such deals meh? WOW!Laguna raised a point which I dont quite understand.
interestingly I got a loan which is SOR +0.5% with saving int 0.8%. So for 2 years, bank is paying me 0.175%.
stanchart/uob the best is 75% leh.....
Junior
not now, last year. CIMB.. Now cannot find liao.got such deals meh? WOW!
stanchart/uob the best is 75% leh.....
agree SC is good. Just checked recently and they are trying to match by giving me 1 year log-in with Y1 0.65% / Y2 0.8% year and that 2-tier stuff.
anyway still continue with citi cos a throughout of .75% was offered with a slight discount for Y1. If sell without 2 years log in still can redem 1.5% by begging another loan or loans with an agreed quantum which in my opinion very low.
Junior
ya, SCB is my principal banker...
happy with their services
Exalted
same...for resale/subsale i always go to scb
for new launches, depends wat they offer liao....like UOB offering SOR+0%....hahaha....quite gimmicky comes to tink abt it
Junior
a clue that you must have so much hot cash now ...heheesame...for resale/subsale i always go to scb
for new launches, depends wat they offer liao....like UOB offering SOR+0%....hahaha....quite gimmicky comes to tink abt it
SOR+0% and with log in of 4 years from first disbursement of loan......thereafter SOR+1%? Is that the offer?
Exalted
No lock in....but upon TOP the rate become sor+1%....tats only applicable for waterbank la
For now, i tink tat dbs cap at 1.49% bestest....anyone got the details?
Junior
Sept. 26 (Bloomberg) -- Luxury home prices in central London climbed the most in 11 months in September, Knight Frank LLP said, as the European sovereign debt crisis encouraged investors to buy less-risky assets.
Values of houses and apartments costing an average of 3.7 million pounds ($5.7 million) rose 11.4 percent from a year earlier, the London-based real-estate broker said in a report today. On a monthly basis, prices rose at the slowest rate since October 2010 as buyers delayed purchases after the worst riots in Britain since the 1980s.
“The Eurozone crisis is probably the biggest concern, primarily because people are very uncertain about what would happen if the euro broke up,” Liam Bailey, head of residential research, said by telephone. That makes assets in the U.K. attractive because they’re denominated in pounds, he said.
On Sept. 20, Italy became the sixth euro-region country this year to have its credit rating downgraded. Two days later, the Stoxx Europe 600 Index slid to the lowest level since July 2009, extending a decline from this year’s high on Feb. 17. The world economy faces high “downside risks,” International Monetary Fund Managing Director Christine Lagarde said in an interview with Tom Keene on Bloomberg Television last week.
Gross domestic product in the euro area will expand 1.7 percent in 2011, less than last year’s 1.8 percent growth, according to the median economist estimate in a Bloomberg News survey.
Russian Buyers
The number of prospective buyers viewing prime central London properties increased by 25 percent in the third quarter from a year earlier, according to the report. Prices are at a record, 4.5 percent higher than the market’s last peak in March 2008.
The U.K.’s record-low interest rates and the pound’s weakness are making central London’s real estate more attractive to overseas buyers, Bailey said. International purchasers now account for 55 percent of luxury-home deals in the city compared with 49 percent a year ago.
“Russians are rising in number at the moment,” Bailey said. “There’s a bit of uncertainty because there’s an election next year and people are looking to invest money overseas.”
Buyers from Russia accounted for 6.3 percent of all purchases in the 12 months through September, followed by the United Arab Emirates with 4.7 percent and the U.S. with 3.9 percent. About 3.2 percent of sales were to French buyers, the highest of any mainland European country.
London Riots
Values rose 0.6 percent in September from a month earlier, the market’s worst performance since prices fell 0.2 percent in October 2010. At the beginning of August, arson and looting in the city’s Tottenham district sparked riots in which more than 3,000 crimes were committed in the capital alone.
“In the final weeks of August and first week of September there was a slowdown in deals being made,” Bailey said. “There was a slight knock-on from the riots, which delayed a few purchases.”
Knight Frank said luxury-home prices will increase by as much as 12 percent this year, maintaining a forecast the broker made last month. Values climbed about 10 percent in 2010.
--Editors: Andrew Blackman, Jeff St.Onge.
told u guys before... see investors scurrying now for safe havens in property. It has only just begun...
神龙股侠。
nil sine labore !
Senior
told u guys before... see investors scurrying now for safe havens in property. It has only just begun...
神龙股侠。
nil sine labore !
or are they taking money out of their own countries into UK ?
Exalted
Perhaps coming into sg too?
Junior
yes indeed. you see, the Chinese can keep saving but are unable to invest the major bulk of their cash in their own country. There are restrictions on the number of properties they can buy. Add to this problem is the housing shortages: Yes, you hear me right... the coastal cities are where all the Chinese population are going to concentrate and there is simply not enough urban land for houses there.chinese... Not only food not safe.. Wine are fake..
Nowdays... they are going to HK & other countries to buy milk powder !
SO Spore with education hub.. Medical hub.. Water Hub.. F1 hub... Sports Hub.. Clean water hub... talent Hub.. milk hub.. Investment Hub.. All our hubs will remakes Singapore to remain a highly sought after place !
Properties Rock !
That’s from a Reuters description of the scene at a recent show of model apartments at Beijing’s World Trade Center, as printed in the 4/14 issue of the South China Morning Post.
indeed, the more china tightens on her property to curb a bubble, the more they are going to come here- their next best choice to Hong Kong. I personally also feel Hong Kong has made a bad move by allowing the maid PR status which will create a housing problem soon. That will make the mainlanders even want to come here la.Hong Kongers take a jaundiced view of real estate markets: prices here for everything but the most super-deluxe properties continue to slump well below 1997 peaks. As they watch their Mainland neighbors buy anything and everything with a roof over it, they feel they have seen this bad movie before.
Chinese understandably take pride in their newly gained ability to buy expensive things. Even in sophisticated Hong Kong, people talk with gusto about the prices of everything from watches to tuition at American universities. But the mainland’s mania is not a sign of success – it’s a warning of the likely consequences of China’s imperfect transition from Third World to First World status.
The 4/14 South China Morning Post again reports (in a column I can’t find online) that total bank deposits in China may now equal total deposits in the U.S. Columnist Xavier Wong exults, “Generally speaking, total bank deposits … provide a good gauge of a country’s economic strength.” That might be true, if the two countries in question provided equally attractive non-bank stores of wealth. But that precisely is what China does not do. Financial markets are no place for the Chinese small investor, leaving him or her with two alternatives: bank savings and real estate. Hence the accumulation of savings, hence the zooming property market. People are not shopping for places to live; they are shopping for secure and growing stores of wealth. Hong Kongers know how this cycle ends.
A typical urban worker might earn 500 yuan a month, a little under $75 at the current rate of exchange. An apartment near central Beijing can cost 35,000 yuan per square meter, $570 per square foot. That’s a heck of a price for what an American would regard as very drab high-rise housing.
old news, but similar to the problem in China:
September 17th, 2010
India will face shortage of over 26 million houses by 2012, which would lead to spurt in housing prices as demand-supply gap widens amid rising purchasing power of the middle class people, a consultancy firm has said. “With India back on a high growth trajectory, demand for commercial and residential space is likely to witness an upward trend,” consultancy firm Ernst and Young said in a report.
Demand for residential property is rising sharply because of growing young working population, increasing urbanisation, declining household size resulting in more nuclear families with growing household income and improved availability of loans. Co-chairman of FICCI Real Estate Committee Pranay Vakil said over $1.2 trillion investment was needed to meet the rising demand for urban development.
India Ranked as the 5th Most Attractive Destination for Future Real Estate Investment
Indian Realty News
September 17th, 2010
Junior
old reply by another netizen in another forum, but still applies now:
inChina // Apr 15, 2010 at 12:21 am
a reasonable arguement, if we were taking about a place that was in the west or was based on western systems. but i find that western journalists forget to mention a couple of critical factors leading to the incredible housing prices in china. ( for the record i am an american who has lived in china for 7 years)
1. their is a gigantic housing shortage in china, this applies for all levels (peasants,poor, middle and rich classes) a few weeks ago there was a housing fair(in Hangzhou) similar to the one you mentioned in your article there were 143 apartments available, more than 6000 people showed up(the price per square meter was 27,000RMB per sq Meter), while some of these people might be speculators i seriously doubt that the majority or even a significant minority are. oh and the apartments sold out in 6 minutes. any second hand house in (in a major metro), that doesnt have any significant structural problems will be sold in under a week (the only reason it take that long is that the seller ususally wants to create a bidding war between prospective buyers)
2. Buying a house is a deep cultural norm in China. It took me a few years to get my head around this fact but i have met countless chinese that have mortgages that account for 70% of their take home pay. In addition, you cannot get married in china without an apartment, this small fact has incredible ramifications, and more or less cancels out any comparision to Hong Kong,(there the wife will move into her husbands parents home, this is not the case in china) This leads to a situation were you have a generation of 50somethings underwriting properties for their children. which in turn raises the price of housing.
3. the laws as they relate to education, insurance and other social benefits heavily favor those who own a house. For example if you do not own an apartment you have no chance of sending your children to school in the city you are living in (there are private schools but they are of very poor quality) or applying for even the most basic healthcare options in china.
4. One of the major reasons for the housing shortage is the fact that the government owns every piece of land in this country. For years they followed the hong kong model though thru the years they have altered it to fit a very specfic goal: subsidizing underperforming state owned companies. This practice is not just limited to state owned companies for example Geely the ningbo based car manufactuer that just purchased Volvo is a direct recipient of profit gained from government real estate holdings, they do not even attempt to hide this fact as it is not considered negative in china. their business of selling poorly built cars loses money every year yet they are able to secure large ammounts of profits, again this is why we cannot use comparisions to the america or any other country when discussing china.
5 we know how this story ends it doesnt look like Hong Kong it looks like Shanghai, after years of 50% increases shanghai had a slight reduction of around 5% in 2008 but rebounded for a 6% rise in 2009 and looks to maintain that for the foreseeable future. Once the price starts to reach 30k to 40k per square meter the prices seem to plateau, we have seen this in shanghai beijing and shenzhen already with hangzhou guangzhou and ningbo following the same path. remember china is not a free market system it just looks like one.
prices here are extraordinary and even a bit ridiculous, your description of a 400,000 dollar drab housing complex sounds about right and really describes the place that i live in. but chinese are not as educated as they want people to believe, owning a house here is more about face than it is about money, and as long as 1/1000 people continue to buy we will continue to see the price go up.
Junior
I can share with you my personal research conclusion: The money will go to places where there is good governance- whether funds, ETF, Unit Trusts, Property or country. Investors go for security and stability in investment to protect their wealth level nowadays, not returns anymore. For returns, they can accumulate through their monthly salary.
Just wait for the reports & statistics in the local news within the next few months for confirmation of my talk cork sing song. ( Oct 2011- March 2012 )
Good Luck.
神龙股侠。
Senior
I have similar views too. China Chinese will prefer to invest outside Hong Kong, as they are not sure what will happen after 30 odd years later. In terms of stability, education and medical services, singapore is one up. Too much freedom of rights in Hong Hong.
I can share with you my personal research conclusion: The money will go to places where there is good governance- whether funds, ETF, Unit Trusts, Property or country. Investors go for security and stability in investment to protect their wealth level nowadays, not returns anymore. For returns, they can accumulate through their monthly salary.
Just wait for the reports & statistics in the local news within the next few months for confirmation of my talk cork sing song. ( Oct 2011- March 2012 )
Good Luck.
神龙股侠。
Bricks & Mortar
More Chinese investors should be coming here to buy...
http://www.straitstimes.com/Breaking...ry_717593.html
Developers go all out to woo Chinese home buyers
Music of the night
Singapore financial system is flawed in the way that interest rate is pegged to US Fed rate ... it is way too costly to borrow in China/Australia compared to Singapore, smart Chinese buyers will smell blood very soon to take advantages of Singapore system. But so far looks like only Far East is pretty successful in attracting Chinese buyers, may be they have done research on their buying behavior and heard FEO always put their ad along side private banking ad
Ride at your own risk !!!
Senior
Developers should reduce their efforts to woo Chinese home buyers coz S'pore is already a natural magnet for them. Should spend their resources to woo Indonesian and Indian buyers instead. That would be even better for our housing market.
Camper
There's already many at my current place. Chinese, Indians, Indonesians, and Fillipinos.Developers should reduce their efforts to woo Chinese home buyers coz S'pore is already a natural magnet for them. Should spend their resources to woo Indonesian and Indian buyers instead. That would be even better for our housing market.
Yee ha! Did I tickle your funny bone?
Junior
I think it is subjective to say that it is better for our housing market. The rich foreign buyers are artificially propping/pushing up the prices of Singapore properties. And I am speaking from my point of view of one that is already vested in a couple of properties.Developers should reduce their efforts to woo Chinese home buyers coz S'pore is already a natural magnet for them. Should spend their resources to woo Indonesian and Indian buyers instead. That would be even better for our housing market.
Theoretically I should be pleased with the price appreciation but to me stability is a more important factor. It has to be sustainable, and if even OCR properties are becoming barely affordable to the local population than I don't think it is a good thing for the property market.
mutant powerpuff
Sama sama......
There are 4 units on each floor in my condo.
On my floor alone, besides my family, there is an Indian family (from Chennai), a Hong Kong family and a Indonesian Chinese family
Bricks & Mortar
Wow, u are only 1 local, 20% minority..., ur condo must be very popular with FT...Sama sama......
There are 4 units on each floor in my condo.
On my floor alone, besides my family, there is an Indian family (from Chennai), a Hong Kong family and a Indonesian Chinese family
Junior
At least it's still 3 chinese families..Sama sama......
There are 4 units on each floor in my condo.
On my floor alone, besides my family, there is an Indian family (from Chennai), a Hong Kong family and a Indonesian Chinese family
4 units on my floor.
3 units are angmoh families and we are the only chinese and local.
And I hate the pesky kids... they play tennis and soccer on that small lift lobby and always make lotsa noise and dirtied the walls with the ball.. and also bang into my door ..very irritating.
mutant powerpuff
Lots of Indian FTs cos it is situated near one of the Indian International School.
Your place near ang moh school?
Ya i know......
Last time got an ang moh neighbour (now replaced by indian tenant), they park their mountain bikes outside the lift.
I told management but they did not do anything.
So I brought all my bikes, 4 of them, and parked in the lift area also, the Hong Kong neighbour also followed suit, and finally the management issued a letter telling all the residents to remove their bikes.
Senior
never tell management office to stick notices to remind residents to be considerate?
Exalted
Ur lift lobby quite big hor...wwhahaha
Senior
big enough to start bike rental almost.
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