Property agents facing tough times - any silver linings ?

[Wunderkind]

SINGAPORE: Sales of new private homes plunged nearly 80 per cent in December compared to a month ago, as developers held off new property launches.


According to data from the Urban Redevelopment Authority (URA), just 259 units of new private homes were sold in December, down from 1,228 units transacted in November.


Among the units sold, 125 are located in the suburban areas, 90 units in the city fringe, and 44 units in the core central region.


URA data showed that just 118 new units were launched in December. With the exception of one unit in the suburban area, the rest of the new private homes launched were in the city area.


Including sales from executive condominium projects, 333 new units were sold in December, down from 1,714 units in November.


December may be a typically quiet period but property consultants said the weak sales performance in December was mainly due to the government's cooling measures.

This brings the total annual sales volume in 2013 to 14,980 units, which is some 30 per cent lower than 2012 sales.


Going forward, some market experts expect property prices to weaken in 2014.


"We are forecasting softening of prices of between five to eight per cent for the entire market," said Chua Yang Liang, head of research at Jones Lang LaSalle.

- CNA/nd/fa

[Ringo33]

When property agent sneeze, car industry will catch a cold.

expect COE price to drop soon.

[gemstone]

Suddenly people lost interest in buying property. Strange.

[Ringo33]

Suddenly people lost interest in buying property. Strange.

Buyer are more selective these days, only good project can move.

[leesg123]

Suddenly people lost interest in buying property. Strange.

Is not no interest, is waiting and on constant look out.

[Patrickstar]

Heard from many agents that there are still a lot of people buying with 7/10% absd, can anyone verify that?

Is not no interest, is waiting and on constant look out.

[august]

Heard from many agents that there are still a lot of people buying with 7/10% absd, can anyone verify that?

i doubt so.

[RCT]

Heard from many agents that there are still a lot of people buying with 7/10% absd, can anyone verify that?

Let the figures talk... A few people also a lot...

[sherlock]

Heard from many agents that there are still a lot of people buying with 7/10% absd, can anyone verify that?

Agents will say anything to make u buy. Figures show that buying has dropped tremendously

[amk]

Heard from many agents that there are still a lot of people buying with 7/10% absd, can anyone verify that?

whoever saying is totally bs'ing you.
the market today, in terms of volume, is worse than SARS.

[lifeline]

Heard from many agents that there are still a lot of people buying with 7/10% absd, can anyone verify that?

my friend's agent (who sold 2 resales last month) was complaining to him this morning that Today's news on ST caused several viewers to cancel their appointments !

[Patrickstar]

I don't take what they say at face value definitely. Heard that they have collected more than 400 cheques for the 60yr hillford with a lot of buyers who are already property owners. Quantum play is still very strong.

whoever saying is totally bs'ing you.
the market today, in terms of volume, is worse than SARS.

[Patrickstar]

These are the kind of buyers we get today, buy on one article n cancel appointment on one article also. They have no solid fundamentals

my friend's agent (who sold 2 resales last month) was complaining to him this morning that Today's news on ST caused several viewers to cancel their appointments !

[RCT]

These are the kind of buyers we get today, buy on one article n cancel appointment on one article also. They have no solid fundamentals

hahaha.. you believe what agent say?

[wt_know]

volume down down down because no new launches
but not price !!!
all cry papa cry mama because cannot sell as many as before to make it to the million-dollar-table
and dec many were holiday and clear annual leave. on the road also no jam as many parents went overseas holiday. no buyers how to sell?

[lifeline]

hahaha.. you believe what agent say?

for some agents, got to discount a lot what they say.
my friend's agent is also my agent. discount almost zero %.
basically as patrickstar indicated, these are the jittery investors... those with plans will know what to do and bargain appropriately.

[SE]

volume down down down because no new launches
but not price !!!
all cry papa cry mama because cannot sell as many as before to make it to the million-dollar-table
and dec many were holiday and clear annual leave. on the road also no jam as many parents went overseas holiday. no buyers how to sell?

you are right, the agents have to find other means to top up their income such as going for rental deals.

[sunrise]

Buyer are more selective these days, only good project can move.

i can only think of 1 good project, that is JG or some call it 2nd orchard.
i am helping you to finish the statement.

[proud owner]

I don't take what they say at face value definitely. Heard that they have collected more than 400 cheques for the 60yr hillford with a lot of buyers who are already property owners. Quantum play is still very strong.

I heard Hillford sold out within a day .........

[Wunderkind]

I heard Hillford sold out within a day .........

Just when you think the situation is bad, URA has unconsciously come up with a novel scheme ( retirement home at 66 years lease ) that provided a rejuvenation to the lacklustre property market.

Thanks to Hillford which was sold out in less than 5 hours, the market came charging back. It goes to show that if the pte condo is priced affordably, there will still be buyers.

For Hillford, despite the small floor area and reduced lease tenure, people are still willing to cough up to $500k for 1 BR. Quantum is still the call in today's property market.

[MGM]

seems like property market is slowing down... unless there are good buys like the inflora at pasir ris, but quite rare

[MGM]

Now taking a loan is already not easy. guess property market should be quiet for now