Property price is coming down fast

[basic]

why u suddenly tok about 1-2 years later? I tot u were toking about now having >15% discount already?

"Spore too, many developers already giving discount of 15-20% to get rid of their holding as they know, the later they get out, lost will be higher. Resale owners down price more than developers in order to let go their units as tons of sellers out there"

can you read??...
now down 10-20% from 1-2 moths ago....
1-2 yrs later...will be down 40% from 1-2 months ago....
don't shout any number what you like.....

[Pro888]

You all not good lah. Push up the price so much until he got not enough $$$ to buy. Any1 sell him lah

[dtrax]

You all not good lah. Push up the price so much until he got not enough $$$ to buy. Any1 sell him lah

Dont say until like that leh.. is not we push up, blame those upgraders

[devilplate]

You all not good lah. Push up the price so much until he got not enough $$$ to buy. Any1 sell him lah

He want more den 50% discount wor....

Imagine caspian drop by half....900psf to 450psf.....even lower den launch px of 600psf.....he want 80s prices! Whahhahaha

[basic]

This guy is pure bull**** in the making, still remember jdog? Bet wif his dick and disappeared frm he face of the earth. Now at most give stamp duty absorption and furniture vouchers + the standard jack up price abit and give you X% off listed price strategy. Developers balance sheet so strong, already huat big from the last runoff, panic for what? The situation is clearly not as you defined 20% discount.

no need to dog here or dare...many morons here will wake up 1 day...
continue to dream till many get retrenchment, then start to rush for money like Europe now....
haha...live in denial lah.....wait for bank to collect umbrella back lah...

[Pro888]

Are you better inform than the developers?? They are putting hundreds of million of $$$ to buy land.

Probably, the developers dun have ipad or iphone to google

[devilplate]

Are you better inform than the developers?? They are putting hundreds of million of $$$ to buy land.

Probably, the developers dun have ipad or iphone to google

Nice one....

Last few bids still got many many bids.....

He is smart and developers r fools

[basic]

He want more den 50% discount wor....

Imagine caspian drop by half....900psf to 450psf.....even lower den launch px of 600psf.....he want 80s prices! Whahhahaha

don't panic...all will come true...worse than you think...
the more you worry the more it will be....murphy law...

[devilplate]

don't panic...all will come true...worse than you think...
the more you worry the more it will be....murphy law...

Yes....construction cost is 300psf.....and nxt time condo launch at 301psf only

Whahahahhahahaha

[dtrax]

ok lar make you happy, prices of uncompleted apartments dropping and will continue to drop....

[basic]

Are you better inform than the developers?? They are putting hundreds of million of $$$ to buy land.

Probably, the developers dun have ipad or iphone to google

land price also down...go & check yourself...
china land sale last week...no bidders at all....
recent few weeks, china all selling below minimum bids....govt knows if they don't sell now, they can't get better price in future....

[yeo]

Spore too, many developers already giving discount of 15-20% to get rid of their holding as they know, the later they get out, lost will be higher. Resale owners down price more than developers in order to let go their units as tons of sellers out there, >150,000 units now in the market for sales, no buyers now due to property is illiquid investment, any collapse of economy in PIIGS in Europe or further downgrade of USA this month or China local govt debt or Japan debt will immediately turn the world into double dip recession, domino effect to pull whole world down to standstill economy.

When you started by saying that developers ALREADY discounting 15-20% and resale even MORE, you must be prepared to give examples to the guys here. Simple as that.

When you said that prices will drop 20-50% in the next few years, this is your personal opinion and I think the guys here will take it as that. Everyone's entitled to their opinions and only time will tell.

[devilplate]

Ok la to make him happier

Palette will be priced at 850-900psf and livia oredi tx at 9xxpsf!

New launches cheaper den resale/subsale....px dropping! 50% in 1yr time

[dtrax]

timeeeeeeee will tellll... eagerly rubbing hands awaiting large units low psf at 40% discount

[basic]

Yes....construction cost is 300psf.....and nxt time condo launch at 301psf only

Whahahahhahahaha

haha...nothing to do with current construction cost...all depend on economy performance & condition....under recession, how cheap, also no buyers...2003-2006, check yourself, some months less than 150 units sold, new & resale, HDB & private, all in....
now worse time is coming soon...

[basic]

Ok la to make him happier

Palette will be priced at 850-900psf and livia oredi tx at 9xxpsf!

New launches cheaper den resale/subsale....px dropping! 50% in 1yr time

shout what you like....things will unfold whether or what youn shout now....
when recession comes, retrenchment hit....many semicon already started retrenchment in last 4 week, many companies already start unpaid leave....many foreigners will be sent home once recession or stagflation or depression here in time to come.....

[devilplate]

timeeeeeeee will tellll... eagerly rubbing hands awaiting large units low psf at 40% discount

I m not so greedy...

I quite like viva and one devonshire...any sellers willing to sell me at launch px?

[devilplate]

shout what you like....things will unfold whether or what youn shout now....
when recession comes, retrenchment hit....many semicon already started retrenchment in last 4 week, many companies already start unpaid leave....many foreigners will be sent home once recession or stagflation or depression here in time to come.....

Hey....i am not keen la....u dun hf to try so hard to prove ur point to me la

I actually only here to tcss

[ysyap]

haha...nothing to do with current construction cost...all depend on economy performance & condition....under recession, how cheap, also no buyers...2003-2006, check yourself, some months less than 150 units sold, new & resale, HDB & private, all in....
now worse time is coming soon...

How is it worse? Worse than 2003 or 2007?

[3C]

shout what you like....things will unfold whether or what youn shout now....
when recession comes, retrenchment hit....many semicon already started retrenchment in last 4 week, many companies already start unpaid leave....many foreigners will be sent home once recession or stagflation or depression here in time to come.....

Bro,

Thanks for the warning. Already bought and cant sell now how ah..?

[Allthepies]

ha ha it is so interesting toking to a smart guy....

[Pro888]

Seem like most people here dun agree with you and the developers are still selling or buying high.

Who sell low? Very scary. You saw something that most of us din.

Or are you lonely? So many of us jump in and talk to you.

[dtrax]

I m not so greedy...

I quite like viva and one devonshire...any sellers willing to sell me at launch px?

one devonshire nice meh?

[ysyap]

Buyers Still Warm to Singapore's Luxury Property Market

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On Friday 28 October 2011, 11:08 SGT
One of Asia's most vibrant property markets, Singapore, where luxury home prices have jumped an estimated 40 percent over the past year or so, is now coming to terms with a global slowdown.



While transaction volumes and price growth have slowed down, selective buyers, many from China and Indonesia, continue to snap up niche upmarket properties in tony areas like Sentosa Cove, a seaside enclave, and in luxury districts like Orchard Road.

Jasmine Png, a property agent who sells homes in Sentosa Cove, says while her phone isn't exactly ringing off the hook these days, it hasn't gone totally silent either. She was expecting a client from China, who was flying down to view a waterfront bungalow in Sentosa Cove, while another buyer from South Africa was also looking to buy a bungalow in this island resort.

Sentosa Cove is one of the few seafront residential districts of its kind in Asia. This exclusive, gated community features one of the region's few deep-water marinas and expansive views of the South China Sea. Some residents don't even need to moor their boat at the marina, as many houses overlook man-made waterways that offer individual berths for private boats, right off the back doorstep.

That unique appeal has drawn plenty of interest from foreigners, who make up half the buyers in Sentosa Cove, according to the Sentosa Development Corporation, the government agency that manages Sentosa Island. It's also the only place in Singapore where foreigners can own land.

"In the past, I had a lot of people buying (a home in) Sentosa Cove for an investment. Now I see people who want to buy it for themselves, as a holiday home," says Png, an associate director at OrangeTee, a Singapore-based real estate company.

Singapore's property market soared after the global financial crisis in 2008, led by a boom in mass-market housing. This is the segment that has the furthest to fall, according to analysts, who say there will be an oversupply of new homes over the next two years. A little over 32,000 new units will be completed in 2013 and 2014, 85 percent more than the number of units slated for completion in 2011 and 2012, according to the Urban Redevelopment Authority. Most of the new apartments being constructed fall into the mass category, say analysts.

"(However), there is not that much new supply coming into the luxury segment," says Lock Mun Yee, a property analyst at Singapore-based DBS Vickers. DBS expects overall Singapore property prices to fall 5 percent in 2012. "The price drop in the luxury segment will be less," he adds.
Nicholas Mak, head of research at SLP International, a property consulting firm, says property prices will enter a period of single-digit quarterly growth over the next six months.

However, if Singapore enters a recession, prices could drop by around 15 percent, Mak predicts. While luxury property will not be spared, the drop may be less. "The high end segment did not grow as aggressively as the mass market, so the drop may not be as bad," he adds.

A relative lack of supply of these high-end homes provides a floor to prices. Properties priced above S$2,000 (US $1,570) per square foot are broadly classified as luxury.



The development plan for Sentosa calls for a limited number of units. Once fully developed in 2014 Sentosa will have 1,766 condominium units and 394 bungalows, according to the Sentosa Development Corporation and no more new units will be added after that.

However, the pace of luxury home sales has slowed over the last four months, agents and analysts say. In Sentosa Cove, for example, only about a dozen sales took place over August and September.

The price movement was also mixed - but the trend was generally up. A few buyers managed to inch the per-square-foot price in their condo down from the last recorded sale - but the majority of people paid more. A 3,025 square-foot unit in a condominium called The Oceanfront, for example, was sold for S$2,605 per square foot at the end of September, up 18 percent over a similar unit sold in August, according SISV Realink, an industry database that tracks caveats filed with the URA.

Another bungalow on Cove Drive, facing the waterway, sold for S$17.9 million in September setting a new per-square-feet price benchmark of S$2,612 for the area, according to StreetSine, a research company that collates property transaction data from various sources in Singapore.

The price tag, of course, depends on the size and how good the the sea view is. One modern tropical villa that faces the sea is currently listed for S$28.8 million. This two-storied, 10,000 square-foot home features high ceilings and floor-to-glass walls that overlook a private swimming pool and the South China Sea. Many other larger bungalows that have better sea views cost close to S$40 million.

"People are still looking, but they're being selective," says Chua of DTZ. "In a slow market, prices of better-designed and well-located projects hold better."

At the same time, demand from foreigners is not expected to abate in the near future. "We believe that foreign interest in Singapore (high-end) property will remain strong over the coming years as Asia continues to grow," says Ng.



The Chinese, in particular, are buying homes in Singapore. In the first half of 2011, the Chinese formed the largest group of foreign buyers of private residential properties in Singapore, outstripping Indonesian buyers for the first time, according to the URA. That interest helped buoy the luxury sector.

Singapore is widely viewed by foreigners as a safe place to live and invest in. "It's a nice place to study and live," says a Chinese businessman, who bought a five-bedroom penthouse on Singapore's East Coast last year for his wife and son, who studies at an international school, and another two-bedroom condominium unit this year in Sentosa Cove as an investment.
"We expect this to be a sustainable trend as wealth in China continues to build up," says Png.

[ysyap]

In the above article, even Nicholas Mak say if recession hits, then prices will correct 15%, that means, housing prices haven't undergone that sort of correction. Where did you get that?

[devilplate]

one devonshire nice meh?

Y not nice?

Gg to TOP soon....dun mind if any sellers letting go at launch px

[ysyap]

This must be some sort of record, in a matter of an hour, this thread has expanded toward 7 pages already... impressive!

[hk2313]

hmmm....living in Shanghai, i can only say that the compound I live in (which was completed some years ago) has not seen a lot of price fluctuation, the asking prices pretty much remain the same (as subsales), whereas one cannot really independently verify which sales actually get done.

There are 2 or 3 developments from (smaller) developers that have not been selling too well, where they did cut prices, I think by around 20%. Cant verify that prices have gone down a lot, my personal guess would be maybe around 5% on average over the last few months, HK is down around 7% since July on average according to SCMP, Singapore dont know, but at least subsales asking has come back for some projects as well.

A full blown crash or correction of 30 - 50% is not really in the governments interest as well, as it would cause way too much social interest....a correction of 10 - 20% might well be possible (but I have been waiting for that in SIN for quite a while as well)

Only my own opinion....

[Pro888]

This must be some sort of record, in a matter of an hour, this thread has expanded toward 7 pages already... impressive!

This is what he wanted.

[I_RIDE_DEEP]

China i no comment....

But in sg, there is no sweeteners as of yesterday bcoz i went to a few showflats and their px is totally non nego.....i told agts tat if px can be neg pls call me....so far no calls at all....

Hi bros. I am also curious how come developer of Viridian (Global Orion) can have such strong holding power and are not cutting prices even though sales have been very low?