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Thread: Why 70 sqm to 85 sqm?

  1. #1
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    Default Why 70 sqm to 85 sqm?

    The average size of new private flats outside the central area will have to be at least 85 sqm, a regulatory change that will cut the number of units allowed in a project – 9 locations will be subject to even more stringent minimum average requirement of 100 sqm.

    https://www.straitstimes.com/singapo...condos-outside

    Locations are Marine Parade, Joo ChiatMountbatten, Balestier, Telok Kurau-Jalan Eunos, Stevens-Chancery, Pasir Panjang, Kovan-How Sun, Shelford, and Loyang.

    Why?

    Land Size: 18,711.2sqm

    Plot Ratio: 2.8

    Total Gross Floor Area (GFA) : 52,391.36sqm

    Previously avg. size 70sqm: (52,391.36/70)sqm = 748 units (The Tre Ver Units? Why?)

    Announced by Urban Redevelopment Authority with effect 17 January 2019:

    Min size 85sqm: (52,391.36/85)sqm = 616 units (reduce 132 units)

    This move will result in a lower number of units being built in a residential project as well as units generally having bigger floor areas.

    There will be significantly 18% and 30% lesser units in future developments respectively. Supply and Demand: Lesser smaller units=Higher in demand.

    Affordability:

    Bigger units in future, property price will be higher in QUANTUM

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    URA move to cap shoebox units may lead to lower condo prices

    Prices of private apartments and condominiums outside the central area may come under pressure with the Government's move to reverse the trend of developers building more and more shoebox units, say market experts.

    The Urban Redevelopment Authority (URA) announced on Wednesday that it will cut the maximum number of units allowed in new private flat and condo developments outside the central area from early next year, in a bid to manage potential strains and stresses on infrastructure.

    The new guidelines will apply to new development applications for projects submitted on or after Jan 17 next year.

    Under the new rules, the maximum number of housing units allowed in a development outside the central area will be arrived at by dividing the proposed building gross floor area (GFA) by 85 sq m. The current formula divides GFA by 70 sq m.

    This means around 18 per cent fewer units will be allowed if developers maximise their quota.

    Taken collectively, analysts say the guidelines favour home buyers, as they are likely to result in larger unit sizes and possibly lower average selling price (in per square foot terms).

    Savills Singapore senior director of research and consultancy Alan Cheong believes the new rules aim to address a potential oversupply of units that could have come on collective sale sites. "This especially as the population isn't growing as fast as supply," he added.

    Mr Eugene Lim, key executive officer of ERA Realty Network, said: "Developers have kept unit sizes small in order to keep price quantums palatable. However, some buyers have found that these smaller units are not comfortable to live in."

    "Given the new guidelines, developers will have to build bigger units in order to maximise the GFA of the land. Where possible, and in order to keep the absolute price of units affordable, developers may have to sell at a lower per square foot price," he said.

    Meanwhile, nine areas will face even more stringent requirements, where the GFA will be divided by 100 sq m to work out the maximum number of units that can be built. This is to avert a severe strain on infrastructure.

    These areas are Marine Parade, Joo Chiat-Mountbatten, Telok Kurau-Jalan Eunos, Balestier, Stevens-Chancery, Pasir Panjang, Kovan-How Sun, Shelford and Loyang.

    Now, only four areas - Telok Kurau, Kovan, Joo Chiat and Jalan Eunos - face the tougher guidelines.

    Balconies must now have a minimum width of 1.5m so that the outdoor space can be used meaningfully by residents.

    The URA first introduced guidelines in 2012 to rein in tiny units. Then National Development Minister Khaw Boon Wan had pointed out in a blog that the Telok Kurau area had experienced "a rampant development of tiny shoebox units" resulting in severe traffic congestion, shortage of carpark spaces and double-parking.

    Wednesday's tightening came amid concerns over smaller unit sizes in new private housing projects, and that "the number of redevelopments in certain locations may strain infrastructure".

    Ms Goh Chin Chin, URA's group director for development control, noted: "This will also encourage developers to provide a more balanced mix of unit sizes to cater to the diverse needs of home buyers, including large families."

    Meanwhile, after once encouraging developers to provide balconies to residents, the URA has addressed feedback that some balconies are "oversized" and that some home buyers find it challenging to find units without balconies.

    From Jan 17 next year, the bonus GFA cap for private outdoor spaces will be reduced from 10 per cent to 7 per cent, while the total balcony area for each unit will be capped at 15 per cent of the net internal area.

    The URA also introduced a new bonus GFA scheme to encourage developers to provide more indoor recreation spaces such as gyms, libraries, function rooms and reading rooms to residents. The new scheme provides bonus GFA capped at 1 per cent of total area (or the GFA of the residential component for mixed-use developments).

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    New rules on condominium balcony size and width

    In the light of a growing trend of oversized condominium balconies, the Urban Redevelopment Authority (URA) moved on Wednesday (Oct 17) to cap balcony sizes for the first time.

    The URA will impose a limit on the sizes of balconies in private homes to no more than 15 per cent of the internal floor area of the unit.

    Balconies must also now have a minimum width of 1.5m so that the outdoor space can be used meaningfully by residents.

    There are no such limits currently. The rules will come in for new condos with development applications submitted after Jan 16 next year, and do not apply to units that are already built.

    The URA said it observed that some developments now have excessively large balconies in relation to the size of the unit's indoor spaces.

    "We have also received feedback from home buyers who prefer units without balconies that it is challenging to find such units in the market, especially in new developments," said URA group director for development control Goh Chin Chin.

    Explaining the oversized balcony trend, director at the Institute of Real Estate Studies Sing Tien Foo said developers naturally seek to maximise the amount of gross floor area (GFA) that they are allowed to devote to residential use.

    Some do this by designing large balconies, tapping the Balcony Incentive Scheme introduced in 2001.

    Under the new rules, more areas will also fall under the formula where the GFA will be divided by 100 sq m, including areas like Marine Parade and Balestier.

    Currently, the scheme allows developers to enjoy "up to 10 per cent additional GFA beyond the Master Plan Gross Plot Ratio for balconies". This means that property developers can go beyond their allowable GFA by up to 10 per cent if they devote the bonus space to balconies.

    But this gave rise to units which have large balconies and small interiors, which are impractical for residents. It is also common to see new condos that do not offer units without balconies, said Huttons property agent Chook Kheen Choong.

    This is why the URA has lowered the balcony bonus cap from 10 per cent to 7 per cent.

    The scheme was originally intended to encourage developers to provide outdoor spaces to residents and a better quality of living.

    Associate Professor Sing said: "Cutting out this bonus completely is not a good idea because you get the other end of the spectrum where you compromise liveability."

    Meanwhile, home buyers are still paying for each square foot of space, whether indoors or outdoors, said veteran housing agent Catherine Pang, adding that most home buyers would rather have more functional indoor space.

    The group division director from PropNex said balconies appeal more to investor-type buyers, which could be why developers tend to build large balconies to capture a different group of buyers.

    The URA said developers can still achieve the 10 per cent bonus by using other incentive schemes, such as the new bonus GFA scheme for indoor recreational spaces, where the cap is 1 per cent.

    To begin immediately, this new scheme is intended to encourage spaces that allow more communal interaction among residents, such as gyms, function rooms, libraries, game rooms and reading rooms.

    ERA Realty key executive officer Eugene Lim said developers will have to be more efficient in laying out their units now, given the lower balcony bonus.

    Prof Sing added that developers are unlikely to be happy with the URA rule revisions.

    Two property developers declined comment when asked about the new rules, while another did not respond by press time.

    The URA also said developers are now required to inform home buyers at the point of purchase what balcony screens they are allowed to install.

    This addresses another common complaint arising from misunderstandings over the use of balconies, said Prof Sing.

    Some home buyers are sold on the idea that they can convert their large balconies into an extra room by enclosing them in balcony screens, not knowing that developers must seek design approval for the screens from the URA first, he said.

    https://www.straitstimes.com/singapo...size-and-width

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    I don't look for facts to conform to my world view
    I look at facts objectively and assess their impact:
    It's very clear property prices will moderate and this is good news for buyers
    https://www.bloomberg.com/news/artic...-home-builders

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    "Projects being launched this year probably won’t be impacted by the new size guidelines because they would have already received government approval. But home buyers eyeing condominiums coming online in 2019 might want to watch out for good deals, Mak said."

    does Mak know what he is saying? developers have till Jan next year to obtain approval and most developers would be able to get approval for all their land purchases by then. the condominiums coming online in 2019 are still under the old guidelines.

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    Most important is buyers believe their narrative and continue to wait, spacing out sales.

    We really have not much land left in preferred areas after these few years of sales...

    Tengah, Bidadari sites still need many years to be ready.
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

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    Quote Originally Posted by sginvestor View Post
    I don't look for facts to conform to my world view
    I look at facts objectively and assess their impact:
    It's very clear property prices will moderate and this is good news for buyers
    https://www.bloomberg.com/news/artic...-home-builders
    Putting an end to “shoe-box sized” apartments in Singapore may be reason for residents to cheer but for developers, it could prove a double whammy.

    Already hit in July by cooling measures that make it more expensive to buy and redevelop older apartment blocks, home builders have now been told there’s a cap on the number of units allowed in any one project. While the move is aimed at stopping ever-smaller dwellings, for developers it may necessitate a pricing rethink that could dent profitability.

    “The July curbs put the handbrake on en-bloc transactions,” said Nicholas Mak, head of research at real estate consultancy ZACD Group Ltd. New rulings on unit sizes “could actually have a higher impact.”

    Developers in the city-state have to shell out almost 9 percent more for land acquisitions following the latest round of cooling measures. That, coupled with the fact they now have to build larger apartments, might force companies to lower selling prices in order to shift stock, Mak said.

    New guidelines on unit size, released last week, effectively trim the maximum number of apartments allowed in a project by 18 percent. The changes will only affect developments outside of central areas and will come into effect early next year, the Urban Redevelopment Authority said.

    The measures are meant to address concerns that housing in Singapore is becoming ever more cramped. Still, the problem is nowhere near as bad as in Hong Kong. Last year, a developer there was signing up tenants for a project with a “usable floor area" of about 5.7 square meters. That makes Singapore’s average of 85 square meters seem positively spacious by comparison.

    Projects being launched this year probably won’t be impacted by the new size guidelines because they would have already received government approval. But home buyers eyeing condominiums coming online in 2019 might want to watch out for good deals, Mak said.

    Apartment prices could decline as much as 2 percent next year and post a similar drop in 2020, according to analysts at UBS Group AG.

    Developers in Singapore will ultimately end up building fewer, larger units, said Justin Tang, head of Asian research at United First Partners. “This could make a calibration of price on a per-square-foot basis necessary, which will eat into margins.”

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    Quote Originally Posted by bargain hunter View Post
    "Projects being launched this year probably won’t be impacted by the new size guidelines because they would have already received government approval. But home buyers eyeing condominiums coming online in 2019 might want to watch out for good deals, Mak said."

    does Mak know what he is saying? developers have till Jan next year to obtain approval and most developers would be able to get approval for all their land purchases by then. the condominiums coming online in 2019 are still under the old guidelines.
    Mak is right good deals, a lot of good deals with "Bigger units in future, PSF low, property price will be higher in QUANTUM"

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    Quote Originally Posted by Arcachon View Post
    Mak is right good deals, a lot of good deals with "Bigger units in future, PSF low, property price will be higher in QUANTUM"
    The price of the future will make the present seem that much more affordable!
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

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    Quote Originally Posted by Arcachon View Post
    Mak is right good deals, a lot of good deals with "Bigger units in future, PSF low, property price will be higher in QUANTUM"
    When the bigger unit get pricey, demand for smaller units will shoots up and prices too

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    Those who do not learn from history are bound to repeat their judgement errors.

    See below for when this kind of measures were first announced. The market went on to hit another few home runs until TDSR.

    https://www.stproperty.sg/articles-p...-units/a/82592

    Knight Frank chairman Tan Tiong Cheng said that the guidelines "put an end to uncertainty that some developers face on the number of homes they can build when they buy land, especially private land including en bloc sales". However, some players believe the measures could affect smaller en bloc sale sites. "Smaller sites are typically sought after by smaller developers who tend to build a higher proportion of shoebox units in their projects. Owners of such sites could see some erosion in their land values and collective sale premiums, thereby requiring their price expectations to be re-calibrated," says Karamjit Singh, regional director and head, capital markets and residential, Singapore, at Jones Lang LaSalle.
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

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    Posted on 05-Sep-2012 (70sqm) / Date: 17 October 2018 (85 sqm)

    [SINGAPORE] The Urban Redevelopment Authority (URA) has acted to manage the proportion of shoebox units in suburban areas. It is seeking to cap the number of homes in new developments, based on an average unit size of 70 square metres gross floor area.

    At the same time, Singapore's planning authority is giving flexibility to developers to include some smaller housing units in their projects to cater to diverse demographic groups and lifestyles. Notably, URA has not stipulated a minimum apartment size.

    National Development Minister Khaw Boon Wan said in his blog yesterday: "Developers are still free to build small apartments if there is demand, but there must be a good mixture of large and small units, in order to meet the URA guidelines."

    URA's announcement was generally welcomed in most quarters, though some players say it could dent land prices for smaller en bloc sale sites as developers typically tend to mint a higher proportion of small units on such sites.

    There have been concerns about a potential oversupply of shoebox units. "There's a risk, especially during a long-drawn period of economic weakness, where neighborhoods with small-sized apartments could deteriorate in terms of social quality. And the sense of good residential space and homeliness might be lost," says Ku Swee Yong, CEO of International Property Advisor.

    From Nov 4, the maximum number of units in non-landed private housing projects outside the Central Area will be capped based on an average area of 70 sq m. This also applies to the residential component of mixed-use developments.

    Central Area includes locations such as Raffles Place, Tanjong Pagar, Singapore River, Marina Bay, Orchard and Newton, as well as places such as Beach Road, Ophir Road, Jalan Sultan, Syed Alwi Road, Tekka Lane and Outram Road.

    The formula used is identical to the one URA introduced last November for all new condo and flat projects in residential areas with 1.4 plot ratio islandwide. Similarly, a guideline on the maximum number of homes based on an average size of 100 sq m, introduced last year in Telok Kurau Estate, will be extended to Kovan and Joo Chiat/Jalan Eunos estates from Nov 4.

    URA's spokesman said: "The new guidelines are intended to manage the proportion of shoebox units within a development and ensure that the supply of housing units can cater to the diverse needs of all segments of the market." In its release, the authority also noted: "Smaller sized units can still be developed under these guidelines, but at a more moderate proportion and pace. The new guidelines are applied only . . . outside . . . the Central Area, where housing tends to cater mainly to larger households and families."

    URA also said: "The situation that we should avoid is for shoebox units to form a disproportionately large portion of the housing stock in Singapore. Increasingly we are seeing some new housing developments consisting predominantly of shoebox units - as high as 50 to 80 per cent.

    A large concentration of such developments can strain the local road infrastructure as the number of housing units ends up much higher than what was originally planned for." For example, 80 per cent of the units at Nottinghill Suites at Toh Tuck Road are 50 sq m or less.

    According to URA, the stock of completed shoebox units (up to 50 sq m) will increase more than four-fold from about 2,400 units at end-2011 to about 11,000 units by end-2015. There is concern that some may be left empty if there is insufficient demand. Also while rental yields of shoebox units are relatively attractive now, the trend may not be sustained as more shoebox supply is completed. Shoebox units also tend to inject more cars in a neighbourhood than planned.

    The Real Estate Developers Association of Singapore said it shares "the Government's continual effort to maintain quality living environment in Singapore".

    SAA Architects executive director Toh Kok Kin, commenting on the exclusion of the Central Area from the controls on the maximum number of units, said: "It makes sense to exclude inner-city living as we're trying to revitalise the city. Given higher per square foot prices in the city area, smaller units are more affordable."

    Knight Frank chairman Tan Tiong Cheng said that the guidelines "put an end to uncertainty that some developers face on the number of homes they can build when they buy land, especially private land including en bloc sales". However, some players believe the measures could affect smaller en bloc sale sites. "Smaller sites are typically sought after by smaller developers who tend to build a higher proportion of shoebox units in their projects. Owners of such sites could see some erosion in their land values and collective sale premiums, thereby requiring their price expectations to be re-calibrated," says Karamjit Singh, regional director and head, capital markets and residential, Singapore, at Jones Lang LaSalle.

    Date: 17 October 2018

    file:///C:/Users/Jay%20Zhang%20Jun%20Jie/Downloads/dc18-06%20(2).pdf

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    Quote Originally Posted by Kelonguni View Post
    Most important is buyers believe their narrative and continue to wait, spacing out sales.

    We really have not much land left in preferred areas after these few years of sales...

    Tengah, Bidadari sites still need many years to be ready.
    I beg to differ that our land in Singapore though finite as in any other country and island state has 'not much left'. We still have substantial land bank in Great Southern WaterFront (you may argue is not for the masses) but not forget Paya Lebar (bigger than Bishan and Toa Payoh combined) or 800ha of land.

    Once those new districts are built, district population will shift around via SERS, VERS or whatever you want to call and re-develop old towns like AMK, TPY, Jurong etc for higher density or space re-allocation. Its going to be alot more re-cycling (URA will call in rejuvenation) of land moving forward. Alot of people will feel uncomfortable but Singapore can indeed house >8-10mil residents but by then, I am quite sure I wont be around to see it.

    2 cents,
    PropVestor

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    Quote Originally Posted by jwong71 View Post
    When the bigger unit get pricey, demand for smaller units will shoots up and prices too
    I agree that small units in certain areas will become more attractive as most investors who are priced out of larger units will look to this. It poses an opportunity only if current re-sale owners do not get too greedy. The sweet spot has always been below $1.3-$1.5mil for smaller units for new and re-sale. I think this bracket might widen a little due to better economic fundamental and also this ruling.

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    As mentioned, those areas all need several years to become ready for sale, or for amenities to gather sufficient scale to build residential on a large scale. Paya Lebar airbase is still in use and should be fully ready around 2030. The Greater Southern Waterfront port is clearing but still has many infrastructure running till 2030, after which amenitisation will commence.

    https://www.straitstimes.com/singapo...-air-base-gone

    "The relocation of Paya Lebar Air Base from 2030 will free up 800ha of land - bigger than Bishan or Ang Mo Kio. Current height restrictions in the eastern swathe of Singapore to ensure navigational safety for aircraft will be relaxed, meaning that current low-rise buildings may be redeveloped."

    https://www.ura.gov.sg/Corporate/Pla...s/Central-Area

    "Greater Southern Waterfront
    The planned relocation of the City Terminals and Pasir Panjang Terminal to Tuas will free up 325 and 600 hectares of waterfront land respectively. With the first set of berths at Tuas Port to be operational by 2025, the downtown and southern port area will eventually be phased out. This area is known as the Greater Southern Waterfront.

    With about 1,000 hectares of land – an area three times the size of Marina Bay - up for development in the Greater Southern Waterfront after 2030, the landscape we can paint is limited only by our imagination. As we stand at the threshold of a new chapter in our city’s development, we would like to share six broad ideas for the Greater Southern Waterfront with you. The possibilities are immense and we would like to hear your ideas for our waterfront of the future."

    In the meantime, there is a need to slow down release of private land tremendously. Not much readily/immediately available plots left in the next 10 years.

    Quote Originally Posted by PropVestor View Post
    I beg to differ that our land in Singapore though finite as in any other country and island state has 'not much left'. We still have substantial land bank in Great Southern WaterFront (you may argue is not for the masses) but not forget Paya Lebar (bigger than Bishan and Toa Payoh combined) or 800ha of land.

    Once those new districts are built, district population will shift around via SERS, VERS or whatever you want to call and re-develop old towns like AMK, TPY, Jurong etc for higher density or space re-allocation. Its going to be alot more re-cycling (URA will call in rejuvenation) of land moving forward. Alot of people will feel uncomfortable but Singapore can indeed house >8-10mil residents but by then, I am quite sure I wont be around to see it.

    2 cents,
    PropVestor
    Last edited by Kelonguni; 25-10-18 at 12:32.
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

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    will be interesting to watch future GLS...

    Anyway, we can look at the Sph bidadari site as a gauge of unit sizes available.

    https://www.straitstimes.com/busines...-private-homes

    No 1 bedders, price is expensive because of high land costs and over bullish bids

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    Quote Originally Posted by Kelonguni View Post
    As mentioned, those areas all need several years to become ready for sale, or for amenities to gather sufficient scale to build residential on a large scale. Paya Lebar airbase is still in use and should be fully ready around 2030. The Greater Southern Waterfront port is clearing but still has many infrastructure running till 2030, after which amenitisation will commence.

    https://www.straitstimes.com/singapo...-air-base-gone

    "The relocation of Paya Lebar Air Base from 2030 will free up 800ha of land - bigger than Bishan or Ang Mo Kio. Current height restrictions in the eastern swathe of Singapore to ensure navigational safety for aircraft will be relaxed, meaning that current low-rise buildings may be redeveloped."

    https://www.ura.gov.sg/Corporate/Pla...s/Central-Area

    "Greater Southern Waterfront
    The planned relocation of the City Terminals and Pasir Panjang Terminal to Tuas will free up 325 and 600 hectares of waterfront land respectively. With the first set of berths at Tuas Port to be operational by 2025, the downtown and southern port area will eventually be phased out. This area is known as the Greater Southern Waterfront.

    With about 1,000 hectares of land – an area three times the size of Marina Bay - up for development in the Greater Southern Waterfront after 2030, the landscape we can paint is limited only by our imagination. As we stand at the threshold of a new chapter in our city’s development, we would like to share six broad ideas for the Greater Southern Waterfront with you. The possibilities are immense and we would like to hear your ideas for our waterfront of the future."

    In the meantime, there is a need to slow down release of private land tremendously. Not much readily/immediately available plots left in the next 10 years.
    Private land sales via en-bloc has pretty much stagnant from the time being. For GLS, I understand the number of PC (exclude EC) units available from now to 2020 is fairly acceptable based on annual take up rate. There is no oversupply situation as feared circa pre-2017.

    Another ramp up will take place right after GE or 2021 according to a chart. I still think there are plenty of land to develop in tandem with our population growth. URA are just slowly releasing the pages for the public in drips and draps.

    I am waiting for one semi-major correction in prices from now to 2021. At least I know one soul is pretty dead serious about timing it.

    Purely speculative talk,
    PropVestor

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    I studied many towns and find that for each of the matured towns has only 1 or two empty sites suitable for private property. Only maybe Punggol still has more than one site opening up to the sea side.
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

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    Just check the GLS for 1H2019. Not even 1500 units on confirmed list, 1 white site on reserve list. What do you say?

    Quote Originally Posted by sginvestor View Post
    will be interesting to watch future GLS...

    Anyway, we can look at the Sph bidadari site as a gauge of unit sizes available.

    https://www.straitstimes.com/busines...-private-homes

    No 1 bedders, price is expensive because of high land costs and over bullish bids
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

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    Quote Originally Posted by Kelonguni View Post
    Just check the GLS for 1H2019. Not even 1500 units on confirmed list, 1 white site on reserve list. What do you say?
    there's so much supply from enbloc sales and 2017 land sales - why would the government want to further depress the market?

    Parc Esta - 1,400 units
    former Tampines court - 2,000 units
    Jadescape - 900 units left
    Woodleigh Residences -667 units

    who's gonna soak up the supply?

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    Q3 2018 had 3,000+- transactions. Q2 had 2,300+-.

    Even the lousiest years had 7,000+- transactions.

    Who to soak up, what do you think?



    Quote Originally Posted by sginvestor View Post
    there's so much supply from enbloc sales and 2017 land sales - why would the government want to further depress the market?

    Parc Esta - 1,400 units
    former Tampines court - 2,000 units
    Jadescape - 900 units left
    Woodleigh Residences -667 units

    who's gonna soak up the supply?
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

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    Quote Originally Posted by Kelonguni View Post
    Q3 2018 had 3,000+- transactions. Q2 had 2,300+-.

    Even the lousiest years had 7,000+- transactions.

    Who to soak up, what do you think?

    Not many see what others saw that is why 20% in Private 80% in HDB.

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    Quote Originally Posted by Kelonguni View Post
    Q3 2018 had 3,000+- transactions. Q2 had 2,300+-.

    Even the lousiest years had 7,000+- transactions.

    Who to soak up, what do you think?

    if i recall, there's a supply pipeline of 45,000 units.
    this can last 5 years...

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    Quote Originally Posted by sginvestor View Post
    if i recall, there's a supply pipeline of 45,000 units.
    this can last 5 years...
    What this means is that the current developers who won the enblocs will be the main players for the next few years as there will be very few GLS for the next few years. Whatever prices they bought for the land will be used as benchmark to price future developments. Most of them should get the planning approval before the space restrictions.

    And new GLS winning bids do have to consider the enbloc developers pricing. Most likely the GLS bids will go even higher than what we are used to seeing today. Please feel free to disagree, we will have to wait and see.

    Send a chart later.

  25. #25
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    Jun 2009
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    There is still the massive bukit brown coming for the mid to high end market. So still alot of land.

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