Originally Posted by Property Analyst
Hopefully there will be no more new MRT built after Pasir Ris.
I like to think the fact that Pasir Ris MRT being at the edge is really a blessing for Livia. Being at the edge means we always get a seat)
Especially being at the edge of important green MRT lines.
I think the green MRT line is the most strategic one as it is connecting many important locations and has longest track.
The walking distance is definitely more that 10 mins and not advertise as 8min. I rather take a cab. Anyway does Livia provide shutter service to MRT station?Hopefully there will be no more new MRT built after Pasir Ris.
I like to think the fact that Pasir Ris MRT being at the edge is really a blessing for Livia. Being at the edge means we always get a seat
Especially being at the edge of important green MRT lines.
I think the green MRT line is the most strategic one as it is connecting many important locations and has longest track.
Private Residential Units Sold in the Month of September 2008
Project Name . Locality . Units Sold In Month . Highest $psf . Median $psf . Lowest $psf
Livia ................. OCR ....... 9 ............................... 702 ................ 677 ............... 646
Wow! Livia is doing great!
This is because there is still room for mass market condo to grow or price sustain for the next 18 months unless situation get worsen. This is proven by the Aug 4.2 percent grown in HDB pricing and this support the mass market condo (mainly bought by HBD upgrader).
Swee lah!!!
By the time LIVIA TOPs, expect prices to drop atleast 100$ psf.
So anyone hoping to flip just before TOP will end up a loser.
If you planning to stay..then different. Price doesnt matter.
2007 end to 2008 mid are just about the worst times to have entered the property market.
$100psf will also mean the total collapse of HDB prices and Singapore Economy.
Newbie
Wah.. you seemed to be a winner. why 2007 end to 2008 mid? you mean now is the best time to buy. any facts to prove what you say...
Prices are sliding now. So it doesnt take a smart person to know that they will drop further as economy worsens. Stock market is just a bell weather of things to hit the real economy.
Ask anyone who bought in 2007 end to 2008 mid, if they try to sell their property today, are they able to make a good profit ? Except for a few niche developments/bargain deals, most will have to sell at a loss.
It will be the same for someone who buys today and hopes to sell next year.
Any prudent buyer will wait atleast 6months to see how things turn out. This is not just about the property prices dropping, its also about ones own economic stability. All of us except civil servants perhaps can expect a hit on our financial bottomlines in coming months. That might dramatically alter the budget allocations you have for property.
Quite possible.
80% of these so called HDB upgraders are only stepping up due to cheap loans and higher resale prices of their HDB flats. They are essentially becoming slave to the banks. I wont be surprised if they are caught out by the economic downturn. Smarter ones kept their profit and downgraded to another HDB. Stupid ones sold their HDB, borrowed more money and upgraded to condo.
Wont be surprised to see some of the sub prime scenario playing out in our local property market. Financial prudence is a dying trait these days. Most young couples want to emulate their western counterparts.
No Singaporearn want to see the economic downtun in Singapore, as it will affect everyone of us in term of earning and job security.
Just because you have not got any property yet, you are so happy about this slowdown.
Come on , don't be so mean, everyone need to upgrade themself in term of their standard living, somehow in once or twice in their life.
They are not stupid anyway, don't tell me you want to live in HDB for the rest of your life even you have the money to upgrade yourself?
There is always up and down in the property market over the property cycle, it is just timing and other overseas factors that affect us in Singapore.
Take good care of yourself and please don't be so happy with this downturn in Singapore.
OCR price sliding meh? Still going up what. Somemore new highs have been set for a number of OCR projects. Your claim is not factual leh.
http://www.tnp.sg/news/story/0,4136,180640,00.html?
FIRE SALE: OWNERS DUMP CONDOS
Agents: Some clients give as much as 20 per cent discount
By Elysa Chen
October 20, 2008
FOR sale: Luxurious multi-million-dollar apartments, not quite for a steal, but with a hefty discount.
Stock market losses have forced some property owners to resort to 'fire sales' for a quick return to liquidity.
And because the property market is almost flat, they have had to let go of their property at huge discounts.
Property agent Henry Neo receives one SMS a day from different clients asking him to sell their homes.
Mr Neo, who has been a property agent for close to 20 years, said: 'The Asian financial crisis of 1997 and this crisis are real challenges.
'It's a tsunami of the stock market.'
Two or three of the 50 clients he is servicing now are what he calls 'desperados' - people who had their fingers burnt so badly in the stock market they need to sell their houses.
The situation is worse for those who opted for deferred payment schemes, said Mr Neo, because some are no longer eligible for loans, and cannot meet payments once the developers issue the Temporary Occupation Permit (TOP).
'They have to get rid of their properties before TOP, so they would be giving even more discounts.'
Noting that the high-end property market seems to be hit the hardest, Mr Neo said: 'My colleagues who specialise in high-end properties are not doing well. They do not have any transactions at all.'
Mr David Cheang, senior vice-president of the Resale Division at HSR Property Group, noted that two out of every 10 clients are affected by the stock market crash, and are selling their property investments to 'get more liquidity'.
A property agent who declined to give his full name said one of his clients had made such losses on the stock market that he was selling his 27th floor freehold apartment at the Twin Regency for a mere $1.05 million, though its market price is $1.3 million.
Last year, he had sold another unit, on the 29th floor of the same condominium, for $1.4 million.
It is the same story for Mr Felix Young, 35, a property agent specialising in high-end condominiums. Some of his clients are prepared to go as low as 20 per cent below their offer price.
He had taken out an advertisement for five properties, all high-end condominium units in the city.
Apartments at The Sail at Marina Bay, which were going for $2,000 psf are now being offered for sale at $1,450 psf, said Mr Young.
But even such a huge discount is failing to entice buyers, who are asking for $1,100 psf. That is because even with such discounts, the two-room apartment costs about $1.3 million.
In the current climate, not many people would be able to shell out that kind of money because they could be sitting on huge paper losses in the stock market.
Mr Young said: 'Buyers have the sentiment that the property market will cool even more, and prices will drop further.'
And because of this, said Mr Young, there has been a significant drop in transactions - up to 70 per cent for high-end properties that people buy for investments.
Most buyers also know developers' launch price for the condominiums and are holding out until they can get a unit at that price.
He said: 'These days, when buyers call me, they ask me if I have any owners who are 'bleeding'.'
Bleeding is a term that is used to describe owners who over-committed themselves financially and need to sell their properties in a hurry.
Mr Young said: 'Many of my clients' bank loans are kicking in soon, so they need to release the properties quickly, before TOP.
'They are stuck because they can neither sell their property, nor rent it out to cover their mortgages, as the rental market has slowed down a lot.'
Fųck you asshole! Don't post same message everywhere. Be considerate!
Thanks for the warning. I called my agent and gave the green signal.
You buy Livia also need to give green light to agent? Seow!
Please lah! Argue over an article from TNP?
Go for a holiday and enjoy yourself lah.
Recession? What recession?
The New Paper
Jazmin Kelly Six
Friday, 17 October 2008
It may be turbulent times for the economy, but Singaporeans are still taking to the skies.
The travel industry has registered an increase of 15 to 30 per cent annual growth.
For many Singaporeans, overseas holidays are no longer a luxury but have become a lifestyle habit.
Senior vice-president marketing and PR of CTC Holidays, Ms Alicia Seah, said: 'Travel is already part of our lifestyle, it is the fundamental fabric to freedom.'
In response to a successful National Association of Travel Agents Singapore (Natas) fair in August, Mr Robert Khoo, CEO of Natas, said: 'Despite Singapore's rising costs in food and transportation, Singaporeans are saving to travel.'
Record visitors
This enthusiasm was evident at the three-day fair where a record 65,583 visitors snapped up about $60million worth of travel packages, Natas said.
Regional business development manager Erik Hon, 29, has not let his wings be clipped by the financial meltdown.
He has already visited Hong Kong, Bangkok, Paris, Poland, Czech Republic and Slovakia this year alone. Come next January, he will be heading to Thailand for a short holiday and then to London, Amsterdam and eastern Europe next May.
Mr Hon said: 'I want to pamper myself every quarter... and feel the vibe of another city.'
As long as his bills are paid and has monthly savings set aside, travelling will be an essential he won't give up, he said.
On top of being avid travellers, Singaporeans like Mr Hon are also becoming more discerning. They do not mind paying a little more for comfort and a good time.
Miss Eileen Oh, vice-president leisure of UOB Travel Planners, said: 'We see more value-conscious consumers today than cost-conscious ones.'
As opposed to settling for a bare-bones of a holiday package, more consumers would gladly top up amounts ranging from '$50 to $500' to savour an enhanced holiday experience, Miss Oh added.
She also noted that Singaporeans are always on the lookout for good deals and 'tend to go where the currency favours'. This explains the spike in demand this year for destinations such as the US and, most recently, Australia.
Travel agencies we spoke to said they have been getting bookings for year-end travel from July.
Some tour operators even reported a sellout of over 70 per cent of their packages. Even after the stock markets started seeing red two weeks ago, most tour operators said they have not received cancellations.
Popular destinations
Taiwan, alongside popular winter destinations such as Japan and Korea, saw such great demand that airlines had to put in extra flights or switch to bigger carriers to accommodate travellers, Miss Seah said.
But, if you want to stretch your holiday dollar further, the best way would still be 'book your holidays early', suggested Hong Thai Travel's advertising and marketing manager, Miss Stella Chow.
She also advised the budget-conscious to take short-haul, holidays and opt for tourist-class hotels to save more.
When asked if he would be willing to put up at low-cost accommodations like hostels or budget hotels just so he could make that extra holiday trip, Mr Hon said he would definitely be raring to go 'as long as the room, location and amenities are decent'.
Please lah! What are you doing here? Selling tour packages?
hoho! Y so hot? Stuck?
He is hot with inconsiderate jerk who multi-post lah.
Why? You not happy ah? Hee hee ha ha ha!
Property owners shouldn't worry too much for the TOP is still far away.
Even if the TOP is near, there is nothing to worry about if you buy the unit for stay which I believe is the case for Livia.
It is not easy to find a condo as good as Livia, so even in recession people still want to stay in a good living environment.
The blessing of recession is that we can expect much lower interest rate for the mortgage
Yes I agree. When jobs are lost we can fish there and feed our family. It is very close to the sea.Property owners shouldn't worry too much for the TOP is still far away.
Even if the TOP is near, there is nothing to worry about if you buy the unit for stay which I believe is the case for Livia.
It is not easy to find a condo as good as Livia, so even in recession people still want to stay in a good living environment.
The blessing of recession is that we can expect much lower interest rate for the mortgage
Property owners shouldn't worry too much for the TOP is still far away.
Even if the TOP is near, there is nothing to worry about if you buy the unit for stay which I believe is the case for Livia.
It is not easy to find a condo as good as Livia, so even in recession people still want to stay in a good living environment.
The blessing of recession is that we can expect much lower interest rate for the mortgage
Please remember that the bulk of demand for property markets are coming from middle class people who are mostly working professionals.
So recession will significantly affect the property market only when there are many occasion of salary decrease and retrenchment in the job market.
At least for now we haven't seen this happening in the job market.
Have you applied for a position in Marina Bay Sands?
Are we near the kind of economic difficulty faced during the Great Depression? The US economy today is much stronger than it was in 1929 and the fundamentals are still pretty strong regardless of the crisis we're in.
If you look at the numbers, they are so dramatically different. GDP growth in the US is about 1% and I'm sure it will fall but it is nothing like the -27% during the Great Depression. Unemployment is about 6.1%, but during the Great Depression it was 25%.
Today's world is very different from the Great Depression period - there is greater linkage between fiscal policies and the economy than before and all policymakers are working together. So we are not even close to the level of difficulties faced then.
No. He is waiting for Resort World @ Sentosa.
Don't be too happy, Happy Feet!
Nobody wins here.
There is only one big winner here - IRAS.
Property sub-sales net $95m profits
Third-quarter showing still strong but market will soften soon: Experts
Fiona Chan
Property Reporter
Wednesday, 22 October 2008
Private home prices may have slid in the third quarter but the sub-sale market was still going strong.
Ninety-six per cent of owners who resold an uncompleted home between July and last month pocketed profits from the deals, according to new data by property consultancy Savills Singapore.
These transactions, officially known as sub-sales, occur when you buy a home and resell it before it is built. They are used as a proxy for property speculation because the owner resells the home without ever living in it.
Only 12 sub-sale transactions out of the 306 that Savills analysed in the quarter incurred a loss, amounting to just under $1 million of red ink. The rest made a total of $95.1 million in gains, Savills said.
This continues the trend in the first half of the year, when 97% of such deals turned in profits. But the profits seen in the third quarter were considerably narrower as home prices started softening more quickly.
Profitable sub-sellers made an average of $323,420 in the third quarter, but this was skewed upwards by a single large deal: a whopping $6.7 million profit from the sale of a 63rd-storey penthouse at The Sail @ Marina Bay.
Excluding this sale, the average gain was $301,784 - almost 40% lower than the average gain in the first half of the year. It works out to an average profit for each seller of about 30% over the purchase price.
Still, 'to be able to achieve such gains in a year when the property market has gone into a standstill is highly commendable', said Mr Ku Swee Yong, director of business development and marketing at Savills Singapore.
But in case would-be speculators become tempted by these gains, other consultants noted that the bulk of these deals probably occurred before the Sept 14 collapse of United States investment bank Lehman Brothers, which caused the financial crisis to take a sudden turn for the worse.
'The real estate market typically lags behind the stock market by six months or more, so we will probably start to see the real effect early next year,' said Mr Nicholas Mak, director of research and consultancy at Knight Frank.
'These profitable sub-sale transactions took place before the market hit the skids. It is extremely risky to go and speculate in the market right now.'
Most sellers who made a profit in the third quarter had originally bought their units in the last two years and benefited from the sharp run-up in prices in the period, said Mr Ku. While values have weakened somewhat this year, they are still generally higher than in 2006.
Sellers who held on to their units for a longer time before reselling them in the third quarter made more gains, Savills' data showed. Even those who had bought a unit as late as this year and offloaded it in the third quarter made an average gain of $98,600.
If they had sold the unit in the first half of the year, however, they would probably have doubled their gain.
The biggest profits of more than $1 million each were for units at The Sail @ Marina Bay, St Regis Residences and Cairnhill Residences.
On the flip side, sub-sale losses for the quarter averaged $76,820 for each loss-making deal. A unit at Watermark Robertson Quay chalked up the biggest loss of $207,552, while units at Soleil @ Sinaran, 8 @ Mt Sophia and One Amber were also sold at losses of more than $100,000 each.
All the losses were for units that had been bought last year or this year, according to Savills' data. Sub-sellers who had bought their units at the peak of property fever, between June and September last year, bled the most.
'In any case, there are always desperate sale cases even during good times,' Mr Ku noted.
The Sail @ Marina Bay had the largest number of sub-sales in the quarter - 19 - with each deal netting its seller an average profit of $1.1 million. There was one loss, of $62,890, for a second-floor unit.
Other projects with more than 10 sub-sales included Parc Emily in Dhoby Ghaut, Park Infinia at Wee Nam, Riveredge in Tanjong Rhu and The Esta in Marine Parade.
But the profits were not just confined to developments in the prime districts.
At Casa Merah in Tanah Merah, 10 sub-sales yielded an average profit of $100,351, while Atrium Residences in Geylang saw four sub-sales with an average gain of $54,556.
Newbie
Hi,
I found one website very impressive and comprehensive,just like an condo directory search engine. I was attracted by its 720 degree virtual tour,transaction chart,elevation,floor plan,ect. Look up urself in more details,then u will know how helpful and comprehensive it is.
http://www.virtualhomes.sg/livia
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