Pricing is key. If price too steeply, low take up rate. I am sure if price between $800 to $900 psf sure sell like hot cakes!Originally Posted by NoodyGirl
Newbie
Pricing is key. If price too steeply, low take up rate. I am sure if price between $800 to $900 psf sure sell like hot cakes!
Newbie
$800 still high, I remember Metropolitan only selling at $700 psf last year. I will buy when it is low.Pricing is key. If price too steeply, low take up rate. I am sure if price between $800 to $900 psf sure sell like hot cakes!
Newbie
If you are refering to AS, happy waiting. You are just like those who are still waiting for RG to reach below $1000psf.
Junior
it is not always bad to wait, no point buying when u feel the price is sky high..why give the developer a good deal??
Newbie
agree... i went to the so called VVIP preview too.. many people no doubt, but the take up rate of the units are very slow.
after viewing the showroom, really disappointed with the flooring and the huge balcony.. dont think it is worth more than $1000, even under current irrational buyer spree environment.
just my view.
Senior
according to DMG research:
~ 20 units were sold on Saturday, putting the total transacted units at 55, whichranged from S$1,100 – 1,300 psf.
translate to a 50.5% take-up out of the 109 launched units (11 storeys only). More units were
launched on Sunday, with total transacted units YTD at 69. We hear this excludes some units
which Wing Tai could have sold to its business associates and/or directors. Most units sold were
2-bedders, reflecting that more buyers bought it for investment purposes. Buyers also preferred
the tower facing the Tanglin / Orchard Road as compared to the Sentosa view. Transacted prices
Senior
Perhaps this report from Merrill Lynch is more accurate, earlier one by DMG understated:
This weekend we visited the private preview of Sophia Residence a 272-unitunits were sold over the weekend.
development in Mount Sophia by Guocoland and Ascentia Sky a 373-unit
development by Wing Tai in Alexandra. Pricing for Sophia Residences was set at
between S$1,400-1,800psf vs. new sales of nearby project Mount Sophia Suites
at S$1,200-1,300psf. Close to half of the units of the development were “compact
units” which were relatively well received and around 50 units were sold by
Sunday afternoon. Over at Ascentia Sky, pricing was set at S$1,300-1,500psf and
10% discount was offered to buyers during the preview period. Approximately 80
Newbie
Not impossible but when the price reach $800psf, it will also mean that the lease period is maybe around 75 years? It should be a good wait and by then, do you think it is still worth the wait?it is not always bad to wait, no point buying when u feel the price is sky high..
There is no reason why the developer will sell at $800psf. The lowest that I conclude that the developer will sell is $1000psf. This is not some small developement where the developer will just sell cheaply to breakeven the cost in order to tide over the cash flow.
Newbie
Care to share which "kuku" VVIP preview that you went that showed the poor take up rate? So far, those that I have been to yesterday, has been selling well! In fact, Parc Imperial almost sold out before I left & Wing Tai more than half of the launch units are sold.
Senior
75 yrs left ? meaning its 25 year old ..
then good what ... buy at 800 psf ..then kana enbloc ...wow 'bee tang' leow
Senior
good lah push push push ...then i can sell my property at a bigger profit ..
then wait for crash ..and buy back .. dream scenario
Junior
People always wonder why? against the odd of recession, salary can't match, US market worst to come, all the negative news clouding around us but yet property prices still goes up.
1) We all heard someone or yourself said at least once in your life.
''I should had bought this condo years back, now so good price''
''why i didn't buy HDB 5 room last time, sigh...if i had now i would....''
2) New launch selling well and almost sold. Like you will see a 100% sigh hanging few days or weeks after launch. People are still buying. Vista by FEO? Still got people paying crazy prices.
3) Maybe speculators or investors bought. Yup, could be. pay 20% and worry about the 80% later. Sure got fire sales. Agree, but how many %? Maybe 20% to 30% imho. Guess most will hold on. Bull or bear they can hold.
4) Singaporean that are rich still out there, you can say they are stupid to buy Ritz Calton Res at 3500psf, silversea 1600psf, AS 1400psf but the fact they still buy.
5) HDB can't lose money. I would say maybe 80% of them are making money. Even my ah mat his 2nd floor 3 room HDB he just sold weeks ago also make money, 50k for after 10 years of staying. And he's damn happy about that.
Senior
becos singapore still dont know what they can buy with their money ...quality of life etc ..
look at this :
http://www.nytimes.com/2009/07/08/gr...WT.mc_ev=click
Junior
It is very likely those who bought high can still make money 5/10 years down the road. However this is make on the assumption that Singapore on the whole will continue to progress rapidly and do well in the next 10/20/50 years to come. If not good luck to those who bought high...
Newbie
the "kuku" VVIP preview that i went was invited by wingtai on friday evening. when i left around 8pm, only 3 3-bedroom unit sold. i hv not been to other "kuKu" preview as you mentioned in other launches.
anyway, compared to the earlier previe launch where take up rate is almost close to 100%, i still find that the AS preview launch not as steady lor.
Newbie
Wow, you sound like if a Condo left 75yrs it will kenna enbloc. Then, a lot of places will kenna enbloc.
Junior
Sometimes buying properties is a hobby or pass time for some of my friends.
I love big house too. Own 2 in NZ. 1 in north and one in south So nice to have Lord of the Ring Scenery!
Newbie
I agree that Wingtai launch is not as good as the rest who sold out within launches. But at that price, the units are still moving considered not bad. And with so many negative comments on AS, I am surprise that they can still sell 80 units over the weekend.
Newbie
Honestly, if Wing Tai / UE is able to get rid of the 80 units, they would have broke even on the construction. They will not be pressured to sell the remaining units.
So it is really a struggle from now till then. Once it hit 30%, or 80 units, those who are waiting for prices to drop, will have to wait very long.
Given that it is a common knowledge that the joint consortium bidded on the high side for that site.
Newbie
bumped into my lawyer friend
said to me, although market looks hot, a lot of people trying to offload what they bought earlier, but seems success limited
who knows
in another 6 months the market will drop 20-30pct
and who's crying then
or what if in 5 years time gahmen decides to change the rules to 99 Y
then banks cant finance to the hilt?
what happens to your hard cash
GONE GONE
CRY CRY CRY
Junior
dun have to wait that long la, just need a lawyer to hit and run your 4%
Senior
chances are alot higher ... ever see enbloc for 5 yr old projects ?? never and not allowed to as well ...
the older it is .. the higher the chance ...unless govt wants to turn it to heritage site
Junior
As long as our friend property_owner still holding to his 20/30 properties, we are pretty safe... unfortunately I don't know when he & other big players are going to unload
HDB can't lose money becos in the long run government must make sure property to perform 2.5% per annum to match CPF OA return??
Newbie
80 HEROES!!!!!!!
Very Brave!!!!!!!
Dare Devil!!!!!!!!
Buying now need a lot of courageous....knowing all the above situation.
I really wish them good luck, that the property market will shoot all the way to $1,600 to $1,800 psf. to let them make some money.
Senior
i havent the chance to read it ..
but did Mah Bow tan said some to the effect that spore property prices are cheap or sustainable or ...?
pretty daring for a minister to make such a statement if it is true ..
cos if prop collapses... can the public 'claim ' from the ministry ?? cos sporeans super 'believe' the govt ..
Global recession is coming....
We just have to believe them because they have all the power to make it happen as they want.
Just my 2 cent worth..
what do want to say ?
Just my 2 cent worth..
Mah didnt say property price is cheap (He is not that blur yet.), he just said there is no excessive speculation that requires any action from govmnt. dont know whether he has got his fact right?? or maybe after some sweet talk from Quek LC during their meet up at tamp..
Just my 2 cent worth..
As long as our friend property_owner still holding to his 20/30 properties, we are pretty safe
HDB can't lose money becos in the long run government must make sure property to perform 2.5% per annum to match CPF OA return??
hahahaha
you just wont miss out any chance to display your 3-legged self.
Senior
mah was referring to hdb prices. in summary:
"THE slight rebound in HDB resale flat prices indicates a stable, not a rising, market" said Minister for National Development Mah Bow Tan
Mr Mah said: ‘Well, I don’t know whether you could use the word rising – it’s only one per cent. It was minus less than one per cent in the previous quarter, it’s now plus one per cent. I would say it is stable, I wouldn’t call it rising.’
As for private, in summary:
40,000 new private homes will enter the property market in the next three to four years, according to the National Development Minister, Mah Bow Tan.
When asked to comment on the current buying momentum in the private property market, Mr Mah said it is difficult to tell if such demand will hold up.
He said: “One is the sentiment – how people perceive the economy is going to be, what the world economy is going to be like, what Singapore’s world economy is going to be like?
“Number 2 is also depending on fundamentals. By that, I mean: what is the supply of private properties, what’s the take-up rate, what are the prices, what are the transacted prices.”
Mr Mah said the government will monitor both demand and supply and make adjustments as needed.
He also noted that the buying momentum was unlikely to be driven by speculators. “So far, I think anecdotally we don’t see any. But if there is, then we will take the appropriate action,” said Mr Mah.
In another article,
THE recent spike in private property sales is being monitored by the Government but there has been no sign of excessive speculation, said National Development Minister Mah Bow Tan yesterday.
Mr Mah said ’speculation is always part and parcel of any market’.
‘Whether there’s excessive speculation or not, that is something we have to look at and watch out for.
‘So far, anecdotally, we don’t see any. But if there is, we will take the appropriate action,’ added the minister
Government has released information on how much supply is coming onto the market, the transacted prices and how many units have been sold on the deferred payment scheme.
This gives buyers complete information, rather than to have reports of high prices alone, he said.
‘For example, there are about over 40,000 units coming onto the market in the next three or four years – I think people must know that.’
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