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Thread: Home buyers turn cautious

  1. #1
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    Default Home buyers turn cautious

    http://www.straitstimes.com/Money/St...ry_756080.html

    Home buyers turn cautious

    Published on Jan 16, 2012

    By Esther Teo, Property Reporter


    IT IS the week before Chinese New Year and home buyers, while still turning up in healthy numbers at show-flats, prefer to remain cautious and keep their options open.

    A Straits Times check over the weekend unearthed a steady stream of visitors at show-flats but few buyers.

    Analysts said the possibility that home prices might fall following the latest round of cooling measures last month kept many potential buyers at bay.

    At Qingjian Realty's 590-unit Riversound Residence in Sengkang East Avenue, about 10 apartments were sold at an average price of $850 per sq ft (psf), bringing total sales to more than 60 units since the project was launched the previous weekend.

    Mr Zuo Haibin, the firm's managing director, said the effect of the cooling measures had been keenly felt. Even though many people have expressed interest, few have made a firm commitment.

    'Our aim now is to sell about 60 to 70 per cent of the 200 units that make up the project's first phase within three months. Had the measures not been implemented, we would probably have sold that many within a month,' he said.

    The firm has plans to launch another mass-market project in Punggol in June.

    The Nautical, Hao Yuan Investment's 435-unit project in Sembawang Road, sold about 15 more units at an average price of $850 psf over the weekend. Total sales thus came to about 150 units.

    Also over the weekend, Far East Organization moved another 36 units at The Hillier, its 528-unit project in Upper Bukit Timah. The overall sales tally rose to 332 units, with the price averaging $1,205 psf.

    Some home buyers whom The Straits Times spoke to said they were hoping for a clearer picture to emerge of where prices are headed. Others decided to delay their purchases in anticipation of the wave of new launches expected after Chinese New Year.

    Property agents noted that potential buyers used to bring their cheque books with them so that they could book a unit on the spot, but they are more cautious now and make repeated visits before deciding on a purchase.

    One such buyer is Mr Heri, 37, who works in the supply chain line. After he and his wife visited the show-flat at Riversound, they thought of buying a four-bedroom apartment there as an investment property.

    'But we want to look at another project in Punggol before making the final decision,' he said. 'It's not small change we're talking about, so we need a bit more time.'

    Upcoming launches after Chinese New Year include Watertown at Punggol and Bartley Residences near Bartley MRT station.

  2. #2
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    Just curious, any one the tenant profile in sengkang and punggol?

    There are people renting so far out?

  3. #3
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    Quote Originally Posted by focus
    Just curious, any one the tenant profile in sengkang and punggol?

    There are people renting so far out?
    I am sure those A B C condos in Flora Drive if no more, tenants who are aircrew or working in Changi Airport will consider Punggol/Sengkang lor...

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    Quote Originally Posted by focus
    Just curious, any one the tenant profile in sengkang and punggol?

    There are people renting so far out?
    sengkang is favourite for ft from india...

  5. #5
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    Quote Originally Posted by mcmlxxvi
    I am sure those A B C condos in Flora Drive if no more, tenants who are aircrew or working in Changi Airport will consider Punggol/Sengkang lor...
    u forget those working in changi prison...

  6. #6
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    Default India International Schools

    http://www.dps.edu.sg/html/shl_Location.htm

    India International school is very cheap: less than $5k per year.

    Some Indians put their kids in India International school to give their kids the choice of whether to go NS at a later stage. So the kids just hold long term social visit pass.

    Thanks,
    Richard

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    Wait for the March bonus effect i.e. better sales figures in end Feb.

  8. #8
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    Quote Originally Posted by radha08
    sengkang is favourite for ft from india...
    Why do u say that? Didn't encounter much FT from India but plenty of PRs, FTs, etc from China. Just drop by any playground during certain time of the day and you'll think you are in China.

  9. #9
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    dun think mkt up from bonus...all save 4 rainy days
    global outlook gloomier

    downgrades = high rates

  10. #10
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    orrh.. so tenant profile are :-
    1) Indian International school.
    2) Changi Prision workers
    3) Changi Airport workers
    4) Seletar airbaase workers?

  11. #11
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    Quote Originally Posted by focus
    orrh.. so tenant profile are :-
    1) Indian International school.
    2) Changi Prision workers
    3) Changi Airport workers
    4) Seletar airbaase workers?
    you can try to look for those comes with tenancy and you can get the tenant profile from there

  12. #12
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    Now impact of CM rolling in?

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