Discounts draw the crowds at Tampines showroom

**reporter2** · 14-01-13, 18:24

http://www.straitstimes.com/premium/...wroom-20130114

Discounts draw the crowds at Tampines showroom

Published on Jan 14, 2013

By Daryl Chin And Melissa Pang

THE latest round of cooling measures did little to dampen the spirits of buyers at Q Bay Residences at Tampines, who were lured by attractive discounts on offer.

Although it is slated to launch only this Saturday, hundreds of people turned up yesterday at the showroom for the 630-unit project, which is a joint venture by Frasers Centrepoint, Far East Organization and Sekisui House.

Engineer Marcus Chin, 29, said he decided to drop by after a message from his agent promised a 22 per cent discount as part of a "pre-launch offer and stamp duty discount".

"It is quite a boon to get a discount, particularly if the latest measures don't affect me much," said the would-be first-time buyer.

Last Friday, the Government moved to curb speculation and foreign investor demand in a wide swathe of measures, but left first-timers largely untouched.

A spokesman for Frasers Centrepoint said it received more than 300 registrations of interest.

It was previously reported that agents quoted prices for the units at around $1,050 per sq ft, but some told The Straits Times yesterday on condition of anonymity that they could be priced even lower.

Those looking to invest, like human resource director Jessie Quah, were rather resigned.

She has to stump up 25 per cent in cash, up from 10 per cent previously, is restricted to borrowing less, and has to pay a 7 per cent additional buyer's stamp duty.

"I'm scaling down my expectations. Hopefully I can snag a decent place that I can rent out to supplement my retirement income in future," said the 51-year-old.

But Bangladesh national Shehabul Alam was undeterred. The orthopaedic surgeon was looking at a 517 sq ft one-bedroom unit for investment.

The additional stamp duty he pays for a second property has gone up from 10 to 15 per cent.

"Singapore is safe, has good laws and a stable economy. I believe my investment would be able to see some returns," he said.

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**kane** · 14-01-13, 21:35

hundreds turn up? not chilly enough for them?

**ysyap** · 14-01-13, 21:39

Either super rich or first timers!!!

**kane** · 14-01-13, 21:39

Originally Posted by ysyap

Either super rich or first timers!!!

rich dad poor son.

**akow** · 14-01-13, 22:04

Originally Posted by kane

hundreds turn up? not chilly enough for them?

Nonsence. Where got hundreds turn up????
I was there at 130PM on Sun, many more agents than buyer.
I could take my own sweet time to view the 2 bedder showrm, hardly anyone in the 2 bedder showrm, except slightly more viewing the Qbay model at the centre of the sales office

i am quite surprise most of the traffic seen at 3-bedder/4-bedder TRIO showrm.
Singaporean really fully loaded???

**RCT** · 14-01-13, 22:59

Originally Posted by akow

Nonsence. Where got hundreds turn up????
I was there at 130PM on Sun, many more agents than buyer.
I could take my own sweet time to view the 2 bedder showrm, hardly anyone in the 2 bedder showrm, except slightly more viewing the Qbay model at the centre of the sales office

i am quite surprise most of the traffic seen at 3-bedder/4-bedder TRIO showrm.
Singaporean really fully loaded???

If really have money will never look at small house...

**kane** · 15-01-13, 00:15

Originally Posted by akow

Nonsence. Where got hundreds turn up????
I was there at 130PM on Sun, many more agents than buyer.
I could take my own sweet time to view the 2 bedder showrm, hardly anyone in the 2 bedder showrm, except slightly more viewing the Qbay model at the centre of the sales office

i am quite surprise most of the traffic seen at 3-bedder/4-bedder TRIO showrm.
Singaporean really fully loaded???

20 visitors per hour x 10 hours. including yourself, maybe that's how they got hundreds.

where is TRIO?

**imjason** · 15-01-13, 00:23

Originally Posted by akow

Nonsence. Where got hundreds turn up????
I was there at 130PM on Sun, many more agents than buyer.
I could take my own sweet time to view the 2 bedder showrm, hardly anyone in the 2 bedder showrm, except slightly more viewing the Qbay model at the centre of the sales office

i am quite surprise most of the traffic seen at 3-bedder/4-bedder TRIO showrm.
Singaporean really fully loaded???

The show room was packed when I was there in the evening time...

**rymccondo77** · 15-01-13, 00:30

Originally Posted by kane

20 visitors per hour x 10 hours. including yourself, maybe that's how they got hundreds.

where is TRIO?

TRIO here refers to Fraser's brand name for Dual key units - the Qbay showroom featured DK units if I am not mistaken.

**kane** · 15-01-13, 00:32

Originally Posted by rymccondo77

TRIO here refers to Fraser's brand name for Dual key units - the Qbay showroom featured DK units if I am not mistaken.

Thanks for clarifying. Classy name that. EC's dual key market has problem been diverted to PC market.

**rymccondo77** · 15-01-13, 01:02

Frasers says that their TRIO concept is targeted at 'intergenerational' market, but also said this concept can be used by owners to rent out the studio apartment.

Frasers is in the EC market (e.g. Esparina, Twin Waterfalls) and is launching Twin Fountains EC in Woodlands this year (a JV with Lum Chang).

Not sure if the new EC rulings (on DK units, size of units) will affect Frasers's plans for this EC to be launched, but will affect its future involvement in the EC market.

**Armstrong** · 15-01-13, 04:34

Opp Qbay is waterview, and ave PSF is $900. Qbay price it at $1100 to $1200 PSF, even absorb the 7% stamp duty, ave PSF is still above $1000 to 1100.

with this CM7, people still bite. This is no way near MRT.

Good thing comes to all who wait, hence be patient

**kane** · 15-01-13, 07:17

Originally Posted by rymccondo77

Frasers says that their TRIO concept is targeted at 'intergenerational' market, but also said this concept can be used by owners to rent out the studio apartment.

Frasers is in the EC market (e.g. Esparina, Twin Waterfalls) and is launching Twin Fountains EC in Woodlands this year (a JV with Lum Chang).

Not sure if the new EC rulings (on DK units, size of units) will affect Frasers's plans for this EC to be launched, but will affect its future involvement in the EC market.

Probably they'll build less since the target market is smaller

**RCT** · 15-01-13, 07:40

Originally Posted by Armstrong

Opp Qbay is waterview, and ave PSF is $900. Qbay price it at $1100 to $1200 PSF, even absorb the 7% stamp duty, ave PSF is still above $1000 to 1100.

with this CM7, people still bite. This is no way near MRT.

Good thing comes to all who wait, hence be patient

To be frank after looking at the housing in Singapore.. It is really weird.. HDB being the cheapest normally have the better location.. Then it is EC, then DBSS then come PC...

Just like the recent visit to Riversails... When you alighted at Hougang, you will see all HDB first... then I slowly walk to Riversails... Then I see the DBSS and Heron Bay EC... Then further up it is Riversails... This is really funny....

In term of price it is
PC<-DBSS<-EC<-PC

but when I work from the MRT, you will see
HDB->EC->DBSS->PC

**zzz1** · 15-01-13, 07:59

Originally Posted by RCT

To be frank after looking at the housing in Singapore.. It is really weird.. HDB being the cheapest normally have the better location.. Then it is EC, then DBSS then come PC...

Just like the recent visit to Riversails... When you alighted at Hougang, you will see all HDB first... then I slowly walk to Riversails... Then I see the DBSS and Heron Bay EC... Then further up it is Riversails... This is really funny....

In term of price it is
PC<-DBSS<-EC<-PC

but when I work from the MRT, you will see
HDB->EC->DBSS->PC

That is intentionally done so , but lately few EC are at pretty decent locations.

**NorthernStar** · 15-01-13, 08:40

Originally Posted by RCT

Just like the recent visit to Riversails... When you alighted at Hougang, you will see all HDB first... then I slowly walk to Riversails... Then I see the DBSS and Heron Bay EC... Then further up it is Riversails... This is really funny....

In term of price it is
PC<-DBSS<-EC<-PC

but when I work from the MRT, you will see
HDB->EC->DBSS->PC

It is bcos of the Serangoon river i guess.. i went there for cycling, the environment along the Serangoon river is very good imo.

**JuzMe** · 15-01-13, 10:40

Originally Posted by Armstrong

Opp Qbay is waterview, and ave PSF is $900. Qbay price it at $1100 to $1200 PSF, even absorb the 7% stamp duty, ave PSF is still above $1000 to 1100.

with this CM7, people still bite. This is no way near MRT.

Good thing comes to all who wait, hence be patient

Agree. People missed boat early and now deperate to jump on board even though others already gotten off. Money can't buy brains

**RCT** · 15-01-13, 11:27

Originally Posted by JuzMe

Agree. People missed boat early and now deperate to jump on board even though others already gotten off. Money can't buy brains

Actually I almost bought a PC several times in the past 6 months as everyone is buying and it looks like it is going up...

**hyenergix** · 15-01-13, 11:31

Originally Posted by RCT

Actually I almost bought a PC several times in the past 6 months as everyone is buying and it looks like it is going up...

Do you own any additional PC (other than your own residence)?

**RCT** · 15-01-13, 11:42

Originally Posted by hyenergix

Do you own any additional PC (other than your own residence)?

I don't own anything.. Just holding to cash and waiting for the good time to buy.. It was a good week for me actually.. CM7 will at least cool the market down... Today suddenly say Single can buy new HDB... Maybe I will wait and see ba... You don't know what the government will announced tomorrow or when congress start to do something stupid... Basically I don't like too much loan... Once you have loan you are at the mercy of a lot of external factors... If really cannot, then I will apply a new HDB when I turned 35 bah... But if the price of PC went down a lot, I will still consider to buy PC... Maybe worth the money I feel... It is quite funny when people buy PC, don't they compared the price of the HDB next to their PC? For me even if upgrading, I will upgrade to a very very very big HDB rather than a small PC....

**hyenergix** · 15-01-13, 11:52

Originally Posted by RCT

I don't own anything.. Just holding to cash and waiting for the good time to buy.. It was a good week for me actually.. CM7 will at least cool the market down... Today suddenly say Single can buy new HDB... Maybe I will wait and see ba... You don't know what the government will announced tomorrow or when congress start to do something stupid... Basically I don't like too much loan... Once you have loan you are at the mercy of a lot of external factors... If really cannot, then I will apply a new HDB when I turned 35 bah... But if the price of PC went down a lot, I will still consider to buy PC... Maybe worth the money I feel... It is quite funny when people buy PC, don't they compared the price of the HDB next to their PC? For me even if upgrading, I will upgrade to a very very very big HDB rather than a small PC....

You shouldn't be buying PC. You should be looking for a life-time partner first

You have probably 0.5-1 year of shopping for PC before the market starts to move up gradually again. There are rich parents around to support their children's new PC.

**RCT** · 15-01-13, 12:02

Originally Posted by hyenergix

You shouldn't be buying PC. You should be looking for a life-time partner first

You have probably 0.5-1 year of shopping for PC before the market starts to move up gradually again. There are rich parents around to support their children's new PC.

Have life-time partner la.. Planning to get marry.. that is why looking for house... or else I will be happy single with no worries...

**hyenergix** · 15-01-13, 12:15

Originally Posted by RCT

Have life-time partner la.. Planning to get marry.. that is why looking for house... or else I will be happy single with no worries...

If you don't see fire-sales (>10% off last caveat for similar units) in next 3 months, it means prices won't correct. Same as the last cooling measure. My bet is no correction since there is no large scale retrenchment, and the actual "correction" by developers are just their usual "discount" tricks.

**Leeds** · 15-01-13, 12:21

Originally Posted by hyenergix

You have probably 0.5-1 year of shopping for PC before the market starts to move up gradually again. There are rich parents around to support their children's new PC.

DPM Therman said in no uncertain term that unless prices soften, none of the temporary measures would be withdrawn. I could not imagine prices start to move up again within a year. If this is so, we can expect more cooling measures. The government is so determine to tame the property prices even to the extend of reducing economic growth. I think we can trust the government this time round.

**hyenergix** · 15-01-13, 12:37

Originally Posted by Leeds

DPM Therman said in no uncertain term that unless prices soften, none of the temporary measures would be withdrawn. I could not imagine prices start to move up again within a year. If this is so, we can expect more cooling measures. The government is so determine to tame the property prices even to the extend of reducing economic growth. I think we can trust the government this time round.

None of the cooling measures have been withdrawn so far, so there is not much significance in this statement. Additional 7% is probably the growth in psf for about year in good location, so by 2H of this year effect should start wearing out.

**RCT** · 15-01-13, 13:16

Originally Posted by hyenergix

If you don't see fire-sales (>10% off last caveat for similar units) in next 3 months, it means prices won't correct. Same as the last cooling measure. My bet is no correction since there is no large scale retrenchment, and the actual "correction" by developers are just their usual "discount" tricks.

Just wait and see how loh.. We will never know what will happen what will happen tomorrow anyway... But at least in Singapore, it is still better than other place.. Even if the PC balloon out of reach, we will still have our HDB to fall back one.. Come worse to worse buy HDB... So I am really not in a rush to get into it... If PC crash, I will buy PC as it will be a good bargain... If PC don't crash, I will buy HDB...

**Pikachu1245** · 15-01-13, 18:21

Originally Posted by rymccondo77

Frasers says that their TRIO concept is targeted at 'intergenerational' market, but also said this concept can be used by owners to rent out the studio apartment.

Frasers is in the EC market (e.g. Esparina, Twin Waterfalls) and is launching Twin Fountains EC in Woodlands this year (a JV with Lum Chang).

Not sure if the new EC rulings (on DK units, size of units) will affect Frasers's plans for this EC to be launched, but will affect its future involvement in the EC market.

Twin Waterfalls at Woodlands? Where got? Got meh?Is there?
Do you mean Twin Waterfalls at Punggol or Forestville at Woodlands?

**DKSG** · 15-01-13, 18:45

Originally Posted by RCT

Just wait and see how loh.. We will never know what will happen what will happen tomorrow anyway... But at least in Singapore, it is still better than other place.. Even if the PC balloon out of reach, we will still have our HDB to fall back one.. Come worse to worse buy HDB... So I am really not in a rush to get into it... If PC crash, I will buy PC as it will be a good bargain... If PC don't crash, I will buy HDB...

My sincere advice to you is : Think further ahead. Dont just look at present housing. Think PC as investment, generate passive income. Free you from working for others. Financial Independence. All these have to start now. Plan now and dont fall into a spiral of escalating prices that eats away your savings every year.

DKSG

**RCT** · 15-01-13, 20:59

Originally Posted by DKSG

My sincere advice to you is : Think further ahead. Dont just look at present housing. Think PC as investment, generate passive income. Free you from working for others. Financial Independence. All these have to start now. Plan now and dont fall into a spiral of escalating prices that eats away your savings every year.

DKSG

Thanks bro... To take a few hundred thousand loan for investment maybe too risky for me...

**DKSG** · 15-01-13, 21:43

Originally Posted by RCT

Thanks bro... To take a few hundred thousand loan for investment maybe too risky for me...

Then you have to make sure that :

Speed of money accumulation > Rate of PC price increase

And that is in absolute terms.

When you buy a PC, what happens is :

Rate of Debt increase 1.28% pa vs Rate of Property Price increase (say) 4%

The longer the time lapsed, the more you make.

Thats all a lowly Office Boy can share with you la!

All da best!

DKSG

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