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Thread: HDB upgraders set pace in private property market

  1. #1
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    Default HDB upgraders set pace in private property market

    http://www.channelnewsasia.com/stori...159916/1/.html

    HDB upgraders set pace in private property market
    Posted: 17 October 2011 1624 hrs


    SINGAPORE: The private residential market saw a rebound in September.

    Figures released by the Urban Redevelopment Authority (URA) on Monday showed 2,064 units, including executive condominiums (ECs), were transacted.

    This is the highest number of monthly transactions this year and a significant 26 per cent increase from August's 1,638 units.

    Treasure Trove, a development in Punggol, accounted for about 40 per cent of the transactions with more than 680 units sold.

    PropNex Realty said the homebuyers are mainly HDB upgraders, attracted to the pricing and the proximity of the development to the Punggol MRT.

    It said the revision of income ceiling had prompted many to purchase ECs.

    Excluding ECs, the number of units sold in the mass market with units costing $1,200 psf or less, accounted for more than three quarters of the transactions.

    Jones Lang LaSalle said the surprise upside in September monthly sales only confirms the view of an underlying market need for homes.

    Dr Chua Yang Liang, head of Research, Southeast Asia, said the market remains price sensitive with projects in the suburban areas seeing more take-up compared to projects in the city and its fringes.

    PropNex said it expects October's sales to hold steady, with over 1,400 units sold. This is due to the fact that developers will be launching more projects in the coming months.

    It added that it expects both home buyers and investors to take a more cautious approach on prices.

    - CNA /ls

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    "It added that it expects both home buyers and investors to take a more cautious approach on prices."

    This is like stating the obvious. since the spectacular rebound from 2009 to 2010, coupled with cooling measures, the mood has consistently been cautious.

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    Quote Originally Posted by kane
    "It added that it expects both home buyers and investors to take a more cautious approach on prices."

    This is like stating the obvious. since the spectacular rebound from 2009 to 2010, coupled with cooling measures, the mood has consistently been cautious.
    Consistently been cautious = prices going up.

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    Quote Originally Posted by latour
    Consistently been cautious = prices going up.
    also means those who bot after 14th Jan 2011 shd have greater holding power=less firesale in future

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    Quote Originally Posted by devilplate
    also means those who bot after 14th Jan 2011 shd have greater holding power=less firesale in future
    the word fire has a very broad meaning a lighted matchstick is fire and so is a volcano eruption......wait n see what kind of FIRE sales there are...

  6. #6
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    Quote Originally Posted by latour
    Consistently been cautious = prices going up.
    Is that a statement or a question? Why cautious = prices going up?

  7. #7
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    Cautious mood is better for the longer term health of this market. Blind euphoria runs the risk of a more painful bubble bursting.

    Anyway, with the ticket size per apartment where it is now, buyers sshould be cautious with or without cooling measures in place.

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