“Nothing in the world is more dangerous than sincere ignorance and conscientious stupidity.”
― Martin Luther King, Jr.
OUT WITH THE SHIT TRASH
https://www.facebook.com/shutdowntrs
“Nothing in the world is more dangerous than sincere ignorance and conscientious stupidity.”
― Martin Luther King, Jr.
OUT WITH THE SHIT TRASH
https://www.facebook.com/shutdowntrs
Remember the FIRST Tenant of Investing? :- The law of mean reversion !!!
(less inflation factor...)
Since OCR as a whole has already gone up 47% since 2008 while CCR has only gone up 7%, anyone want to bet that OCR can still climb more than CCR?
So if you are an investor, and you want to buy a property, where would you choose? Where would the gems be where you can expect significant upside in the future?
I think the logic is obvious!
TITLE: Demand for private homes in the city expected to rebound
By Wong Siew Ying
POSTED: 12 Dec 2013 23:15
URL: http://www.channelnewsasia.com/news/....html?cid=FBSG
Some property analysts believe demand for these high-end homes could pick up as early as the middle of next year.
SINGAPORE: The buying interest for private homes in the city is expected to make a comeback as prices continue to moderate.
Some property analysts believe demand for these high-end homes could pick up as early as the middle of next year.
But others have said the cooling measures may still weigh on buying sentiment going forward.
The brisk sales at DUO Residences at Bugis recently showed that there is still strong interest for private residential properties in the city, if the price is right.
For example, its average selling price of S$2,000 per square foot was 20 per cent lower than units in the vicinity.
Analysts said foreigners account for about one-third of the demand for high-end homes and the cooling measures have kept them on the sidelines. However, analysts note that some foreign investors are coming back to the market.
As at the third quarter of 2013, 10,538 units of completed and uncompleted private homes in the Core Central Region (CCR) are unsold.
That is about one-third of the unsold inventory islandwide.
Unsold stock in the city fringe stands at 9,039 units and 12,655 units in the suburban areas, according to property consultancy Knight Frank.
Knight Frank said the number of unsold units has started to decline since the second quarter of last year.
Alice Tan, associate director and head of consultancy and research at Knight Frank, said: "The unsold inventory in the Core Central Region has actually started to see a gradual decline since the second quarter 2012. The gradual decline is about 4 per cent per quarter. This actually reflects that the demand for CCR private homes is gradually returning.
“From the middle of next year, demand for high-end homes could return as prices start to moderate to a level that more potential buyers start to see its value. So there could be an uptick in overall home prices from the second half of next year onwards.”
Knight Frank said that according to its research, in the last few quarters, prices of new high-end homes in districts 1, 2 and 9 were about five to eight per cent lower compared to the period before the seventh round of cooling measures, which was implemented in January this year.
Another property firm, Century 21, said homes in the CCR are relatively under-valued.
Prices there have only climbed 7 per cent since the peak in 2008, compared to 17 per cent for homes in the city fringe, and 47 per cent RISE for suburban homes.
Ku Swee Yong, CEO of Century 21, said: "Where we find most value for money now would be in CCR properties, especially in freehold properties, because the proportion of freehold properties in Singapore has been reducing quite quickly with more Government Land Sales sites that are coming out with 99-year leases.
“In terms of rebound, we would need to see renewed foreign buying into CCR and foreign buying could probably go up only if there are adjustments to the 15 per cent ABSD (Additional Buyer's Stamp Duty) for foreigners and 10 per cent for PRs (Permanent Residents) holding more than one unit."
According to the Urban Redevelopment Authority, CCR home prices have fallen in the second and third quarter.
Prices of non-landed properties in the CCR increased by 0.6 per cent in the first quarter of 2013, but fell 0.2 per cent in the second quarter and 0.3 per cent in the third quarter.
And analysts expect a further moderation of 0.5 to 1 per cent this quarter.
As prices weaken, demand for city homes could return, possibly in the second half of next year.
Knight Frank said this could spark a gradual increase in home prices in the CCR.
- CNA/ms
Last edited by teddybear; 03-01-14 at 07:16.
Very often, listening to "coffeeshop talk" is best way to know what layman are thinking...
Heard some rumbling that many of the CMs help the rich wanting to buy properties in Singapore, especially the foreigners, to buy CCR properties in Singapore at depressed and cheap price since CCR only climb about 7% as a whole, but yet OCR can climb by so much... Many of these upgraders very very angry because HDB resale prices drop, OCR private properties go up so much, make it very difficult for them to upgrade from HDB to OCR private properties!
They say they hack care about CCR private properties prices but they want OCR private properties to be affordable to them... Rather, they want rich especially foreigners to buy CCR properties at high prices so that money can come into Singapore and stimulate economy, not let foreigners own Singapore asset at cheap price!
Foreigners should only be allowed to buy property in CCR and RCR, leave the OCR to singaporeans
from the 2 recent incidents in the other thread (where we dig out some buyer infos), coincidentally both buyers are foreigners, spending big money on big units in CCR. I do think some good deals in CCR are going to a few foreigners now (especially those with a FTA type of treaty where it can buy as Singaporeans with no ABSD. Look foreigners are not stupid.)
CCR + RCR = Central AREA...
Call yourself CCR you dont know where is Central Area?
http://www.ura.gov.sg/MS/DMP2013/reg...s/central-area
"Never argue with an idiot, or he will drag you down to his level and beat you with experience."
The role of the government is to create an environment thats conducive for citizens to get a roof over their head (i.e public housing), not help them upgrade or get private property.
Private property is a privilege, not a right. If you ve no capability than you shouldn t be aiming for private property. No need to get jealous, or kpkb. Just use your brains, work hard, figure out how to get there. Cannot get there than too bad, no choice, you really cannot make it. Thats life.
Than next time how, government should help all citizens get one CCR property also?
Think you made a very good point : biased policy against foreigners & PRs (with much higher ABSD) vs citizens for buying private properties are uncalled for because it is not govt job to artificially depress private property prices for these group of citizens just because they complaining. You should tell govt that in the face.
For long term investors, we should be thankful that we have all these cooling measures to cool the property market. If gov leave it to their own devises, it will sure only be one catastrophic outcome. Property is always better to make 4 to 5% every year than to make 15% one year and then 0% next.
"Never argue with an idiot, or he will drag you down to his level and beat you with experience."
It is the govt role to ensure supply and demand is met.
For the objective of supply and demand to be 100% accurate is impossible.
That is why we have technical measures introduced to tweak the balance.
Property prices should only go up due to monetary inflation.
If anything above that it will be due to less supply.
central area is the only place in Singapore where there is not restriction on average unit size, and its also the place where you will find the tallest and most expensive residential buildings.
There is a strategic reason for having central area as a separate planning zone and if ever government decide to remove ABSD for foreigners, I think it will be the CA that will benefit from it. And i do foresee that happening because government has got plenty of prime land at Marina Bay to develop, and I dont think Singaporeans alone will be able to drive the demand
"Never argue with an idiot, or he will drag you down to his level and beat you with experience."
First they have urine in HDB flats' lifts,
then they have dead cockroaches everywhere on the floor,
then they have killer litters from the "sky",
now they have serial car theft in HDB car park smashing cars' windows just to steal cashcards!
What's next?
Serial thief on the loose in Hougang? 6th vehicle broken into in two days
Monday, January 6, 2014 - 21:42
Stomp
SINGAPORE - Stomp contributor Francesca was the victim of a car theft, and found out that not just one, but six cars were broken into within the span of two days at Hougang Central.
The Stomp contributor had parked her car at Block 830A of Hougang Central on Jan 5, and came back to find the window at the driver's side smashed and her cashcard stolen.
According to her, she had parked her car at 6:30a.m. that day, and only went back to it at about 4p.m.
She wrote:
"As the carpark is surrounded by HDB blocks,we were hoping that someone would have seen something.
"A police report was made,and according to them it's the 6th vehicle that has been broken into [in the vicinity] since yesterday (Jan 4).
"We are appealing for any witness who might have seen/heard anything."
If you have any information regarding these car thefts at Hougang Central, please contact STOMP at [email protected]
PUBLISHED JANUARY 16, 2014
EDITORIAL
Time to start withdrawing property curbs
FACED with high capital inflows and a roaring property market after the global financial crisis, the Singapore government began to put in place a series of property cooling measures, starting in September 2009. In the face of three rounds of quantitative easing by the US Federal Reserve and persistent, record-low interest rates, six further rounds of cooling measures followed, till January 2013. The measures included reductions in loan-to-value limits; the introduction of seller stamp duties (SSD), the rates of which were subsequently increased and the tenures extended; the imposition of additional buyers' stamp duties (ABSD), with differential rates for Singaporeans and foreigners, which rates were also later increased; and limits on maximum loan tenures.
In June 2013, the Monetary Authority of Singapore introduced a Total Debt Servicing Ratio (TDSR) framework which capped total borrowings at 60 per cent of qualifying income, based on stringent imputed interest rates.
These successive measures, which were introduced in a calibrated fashion, were timely and served their purpose. After increasing at 12 per cent per year during 2010 and 2011, private residential property prices slowed to 3 per cent in 2012 and then to one per cent last year. In the final quarter of 2013, they started to fall. HDB resale prices have also fallen, since the second half of last year.
Transaction volumes have gone down and of late have shown signs of sharp declines. The number of private homes sold by developers last month fell more than 80 per cent from a year earlier.
Why property prices in $PSF appear so high?
- This is an illusion, brought about by MMs! Many MMs have super high $PSF and appear "Affordable" (e.g. J Gateway)!
Why property transactions so hot?
- Simple, because of MMs which are "affordable"!
Really "affordable"? - Yes, but VERY EXPENSIVE! There goes the IRONY!
Does MMs serve a purpose?
- Yes, but only for retirees!
Therefore, it is time govt stipulates that retirement resorts with MMs (e.g. hillford) can only sell to old people!
MMs not retirement homes should just be banned!
Why young couple don't let them buy MMs?
- Simple, because MM discourage procreation (making babies and having children)!
Why single don't let them buy MMs?
- Simple, to encourage them to stay with their parents and look after their parents! Also, MM discourage procreation (making babies and having children) and singles having MMs discourage them from getting marriage!
What should be the definition of MM?
- Any unit less than 2 Bedrooms and less than 900 sqft are MMs!
Too small units are not fit for humans to live in (strongly agreed with Liew Mun Leong), let alone that it discourages pro-creation!
If the govt seriously want to tackle these problems:
(1) People don't want to get marriage
(2) Couples don't want to give birth and rise children
(3) Aging parents deserted by children because children can easily buy their afforable MMs to live separate from parents,
Govt really have to deal with the social problems caused by the easy availability of "affordable" MMs! MMs are just so anti-social!
Last edited by teddybear; 16-01-14 at 13:12.