Junior
Franzmark, do not take my name in vain. I have not replied to your posts not because of kindness or weakness, but because you are beneath me. Little mosquito, go play within your own kind, not here. You are so out of your league, you are making yourself sound silly.
Junior
Little mosquito, who thinks that making 100k plus from his flat now qualifies him for the big league; thinking that his condo in 'central' singapore is less the boondocks and is a highly desirable property. Little mosquito who is so insecure that amy one that speaks out against him, he'll reply like a plebian without class - crass and rude - so insecure and dense that comments not initially pointed at him, he takes offense and lashes back.
While some of your posts do make sense sometimes, the way you go about trying to show how big your balls are is wrong. Pple are here to learn, not to get verbally abused by a kid.
No doubt you will hv much to say to this post Do what you like - i shant reply to you further. It is pointless trying reason with the likes of you. You are the embodiment of what is wrong with today's common society in singapore
Senior
i know of a Single expat .. who rented a BIG unit at Botannika ..at around 7.5 k ...Originally Posted by franzmark
Newbie
THE SELF-CONTRADICTOR is back to sprout his nonsense. If you have an agenda with HDB for pricing their flats too high, take it out on the government, not common folks in this forum. You should tell the buyer who bought your east coast flat for 600k that you were acting against your principle for selling an overpriced flat to them and you are the joke of the century for actring against your principles. Why waste your time in this forum talking bad about our government for selling flats too high when you condone it with your own actions? Perhaps with your huge ego, a pea-sized brain and your low level of maturity, you cannot come to terms with your inadequacies, but again, i don't blame you coz you have probably reached your full mental capacity. i sympathise that you have to stoop so low to have to resort to name-calling and this is a clear sign that this is as far as your mental age is able to bring you. it reminds me of a kid going through adolecence, finding it hard to come to terms with mistakes and resorting to name calling just to satisfy his developing ego. I don;t have to ask whether you can remember that phase in life, coz i think you are still going through that phase now.....
Newbie
lol, surely you know that you are the twisting and turning snake
your posts are very obvious - buy as many tom dick and harry with only 8K/mth can easily afford $1m property. by the way, we were all just expressing opinions and you started the attacks
as for putting words in others' mouth, my posts were not to tell others not to buy but more to advise others to buy prudently AND MORE IMPORTANTLY, to rebut your point and flip flops about your many tom dick and harry.
you sound like a property agent who was previously a bank relationship manager challenging others who questioned his unrelenting sales of mini bonds to the vulnerable group
Global recession is coming....
Ha Ha Ha! Now the attacker said others attacked him first? Let's see who put words in the others mouth:
- I said in my posting that $8k/mth income can easily afford $1m property.
SO, what is my standing point? :
Just that statement only & I DIDN'T ADVICE people to buy now or buy later or buy at what price (because that is up to individual's assessment).
- You said in your posting as follow:
"lol, again trying to attack those who are giving good advice on the market situation. even if the property market will not collapse, it will not be a U or V shape recovery. more likely to trend downwards. so why ask the borderline folks to over commit themselves to try to sustain the property market?"
"oh well, another one of your subtle ways to convince others its ok to buy such overpriced properties".
SO, what is your standing point? :
YOU are TELLING people NOT to buy property now or in near future because they are over-priced now and they will get cheaper! You regard your statement above as constituting GOOD advice - as though you can foresee future property prices and you are damned sure about it. (AND the only way which you can consider your advice to be good for now and in future is you are GOD and you have the power to determine the future price of property to make it definitely go DOWN).
NOW, who is trying to act like GOD and telling people what the future price of property will be as though you are GOD (unless you are)? CAN you prove that you are GOD otherwise obviously your so-called "GOOD" ADVICE about property price being over-priced now and to ask people not to buy property now or in near future is a piece of SHIT because you can't even be sure whether it will definitely go down or not!
lol, surely you know that you are the twisting and turning snake
your posts are very obvious - buy as many tom dick and harry with only 8K/mth can easily afford $1m property. by the way, we were all just expressing opinions and you started the attacks
as for putting words in others' mouth, my posts were not to tell others not to buy but more to advise others to buy prudently AND MORE IMPORTANTLY, to rebut your point and flip flops about your many tom dick and harry.
you sound like a property agent who was previously a bank relationship manager challenging others who questioned his unrelenting sales of mini bonds to the vulnerable group
Newbie
lol...so defensive, must be feeling guilty
if you ask many in the industry, they would tell you the same thing EXCEPT those with hidden agendas or motives will have to convince others to buy otherwise how are they going to make money? if the property market is as good as what you claimed, then you think the major developers are so dumb to sell to you at such "low" prices?
and i do not know why you like to call others godyou claimed others are putting words in your mouth but actually you had and have been trying to put words into others' mouth instead
since you are so sure property will go up and that so many tom dick and harry can buy million dollar homes easily, then by all means go sell your wife, your car, your kids, your everything and put your money where you mouth is
Newbie
lol.. the crass cartman is back sprouting dooms day msg. if you are so convinced that prices are going down -why dont u also sell ur father, mother, wife, dick (dont know if u have) and short the market? I reckon u are just another loud mouth anyway.
btw - everytime u sprout rubbish - i will be here to give u a hard bong to ur dick - regardless if u try to laugh it off or noti am sure with ur so many lol - ur face must be twisted now. ouch!
lol...so defensive, must be feeling guilty
if you ask many in the industry, they would tell you the same thing EXCEPT those with hidden agendas or motives will have to convince others to buy otherwise how are they going to make money? if the property market is as good as what you claimed, then you think the major developers are so dumb to sell to you at such "low" prices?
and i do not know why you like to call others god
since you are so sure property will go up and that so many tom dick and harry can buy million dollar homes easily, then by all means go sell your wife, your car, your kids, your everything and put your money where you mouth is
Newbie
wahahaha...whose clone are you?lol.. the crass cartman is back sprouting dooms day msg. if you are so convinced that prices are going down -why dont u also sell ur father, mother, wife, dick (dont know if u have) and short the market? I reckon u are just another loud mouth anyway.
btw - everytime u sprout rubbish - i will be here to give u a hard bong to ur dick - regardless if u try to laugh it off or not
another misguided bull trying very hard to avoid foreclosure
Global recession is coming....
Trying to beat & sneak about the bush like a snake again? Why now talking about attacking others? Please focus on the issue. Come one, cannot provide evidence means cannot, give all sort of excuses.lol...so defensive, must be feeling guilty
OK, let's quote somebody from today's Business Times:
Peter Barge
Chairman
Jones Lang LaSalle
SEASONED investors understand the cyclical nature of the Singapore property market - which from top to bottom in most cycles typically spans two to three years. On this basis, the bottom may be some 12 months away, but we are already seeing signs of investors taking advantage of low interest rates and price declines of up to 40 per cent.
Investors know the best assets are never available at the bottom of the market, particularly in Singapore where forward-looking sentiment plays a huge role in driving prices. Hence, many are starting to look now with a view to investing over the next six months.
Direct real estate returns are looking attractive against other fixed income options and with the relative strength of currency, late 2009 appears an ideal time to start taking advantage of the likely upturn in pricing of the residential and commercial sectors.
So, the insider asking people to buy but you are asking people to SELL? Please do not sprout nonsense such as "if the property market is as good as what you claimed, then you think the major developers are so dumb to sell to you at such "low" prices"?" You are saying that when prices are really low the developers will not sell? As we know, 2003-2005 are the recent period with really LOW property prices transacted and many people picked up cheap prime properties and you saying no developers sell?
I am trying to find out whether you are really GOD because you proclaimed that by asking people not to buy property now and in near future, you said this constitutes GOOD ADVICE and anybody who commented anything opposite of this is NONSENSE or have hidden agenda etc. How can you be so sure what you will be 100% right and what you said constitutes GOOD ADVICE unless you have the absolute power to determine the price of properties?and i do not know why you like to call others god
Firstly, I didn't ask people to buy or sell property. Since your are so sure that property prices will CRASH, why don't you follow your own advice by selling your wife, car, kids, and dick (not sure if you have one) and backside (you definitely have one but not sure who wants it though) and SHORT the property market?since you are so sure property will go up and that so many tom dick and harry can buy million dollar homes easily, then by all means go sell your wife, your car, your kids, your everything and put your money where you mouth is
Newbie
lol still going on and on...what a retardTrying to beat & sneak about the bush like a snake again? Why now talking about attacking others? Please focus on the issue. Come one, cannot provide evidence means cannot, give all sort of excuses.
OK, let's quote somebody from today's Business Times:
Peter Barge
Chairman
Jones Lang LaSalle
SEASONED investors understand the cyclical nature of the Singapore property market - which from top to bottom in most cycles typically spans two to three years. On this basis, the bottom may be some 12 months away, but we are already seeing signs of investors taking advantage of low interest rates and price declines of up to 40 per cent.
Investors know the best assets are never available at the bottom of the market, particularly in Singapore where forward-looking sentiment plays a huge role in driving prices. Hence, many are starting to look now with a view to investing over the next six months.
Direct real estate returns are looking attractive against other fixed income options and with the relative strength of currency, late 2009 appears an ideal time to start taking advantage of the likely upturn in pricing of the residential and commercial sectors.
So, the insider asking people to buy but you are asking people to SELL? Please do not sprout nonsense such as "if the property market is as good as what you claimed, then you think the major developers are so dumb to sell to you at such "low" prices"?" You are saying that when prices are really low the developers will not sell? As we know, 2003-2005 are the recent period with really LOW property prices transacted and many people picked up cheap prime properties and you saying no developers sell?
I am trying to find out whether you are really GOD because you proclaimed that by asking people not to buy property now and in near future, you said this constitutes GOOD ADVICE and anybody who commented anything opposite of this is NONSENSE or have hidden agenda etc. How can you be so sure what you will be 100% right and what you said constitutes GOOD ADVICE unless you have the absolute power to determine the price of properties?
Firstly, I didn't ask people to buy or sell property. Since your are so sure that property prices will CRASH, why don't you follow your own advice by selling your wife, car, kids, and dick (not sure if you have one) and backside (you definitely have one but not sure who wants it though) and SHORT the property market?
Newbie
it is a good thing i am getting peace from the imbeciles and cyber delinquents (gfoo and august). I hope this will last :-)
Junior
it's starting....
DPS buyer with 20 units at The Fernhill drags feet on payment
A China investor that bought 20 units at MCL Land’s The Fernhill condo has failed to pay roughly $30 million that became due when the project received Temporary Occupation Permit recently.
MCL sent the notice seeking payment to buyer Concordia Overseas Pte Ltd 14 days ago. By the due date yesterday, the payment had still not been made, BT understands.
This development on the deferred payment scheme (DPS) - which was scrapped in October 2007 - is being closely watched.
Under the Sale and Purchase Agreement (SPA), MCL will now wait for another 14 days and if the payment is still not made by then, the developer can serve a 21-day notice on Concordia to repudiate the SPA. After that, if there’s no payment, MCL would be entitled to treat the 20 per cent paid so far by Concordia as forfeited and resell the units.
Concordia, controlled by Hong Kong resident Chan Ki, who has developed commercial buildings in Shanghai, had bought all 25 apartments in The Fernhill in January 2007 at $1,410 per square foot.
It flipped five of these units to foreigners at an average price of nearly $2,200 psf later the same year. JTResi brokered both sets of deals for the five-storey freehold project at the corner of Orange Grove and Fernhill roads.
Concordia bought the units from MCL on DPS, and paid an initial 20 per cent of purchase price in 2007. The 20 units it still holds were purchased for nearly $47 million and it was asked to pay another 65 per cent - around $30 million - after the project received TOP last month.
In case there is a hitch in receiving the payment, analysts say, MCL Land is pretty well covered, as it can walk away with the 20 per cent downpayment from Concordia. Its ‘breakeven cost’ so to speak on the 20 units would be $1,128 psf ($1,410 psf sale price to Concordia less the 20 per cent collected so far).
Based on recent transactions at Gallop Gables on Farrer Road and The Verdure on Holland Road, MCL should easily be able to sell the units individually for more than that sum. An average resale price of $1,250 or so could mean another round of profits.
BT understands that MCL did not extend DPS to the buyers of the five units who picked up their apartments from Concordia in the subsale market. They have been making normal progress payments to MCL.
While MCL is on a firm footing, other developers who sold their projects on DPS at peak prices in 2007 and early 2008, may have reason to worry in case buyers do not pay up once the projects are completed in the coming months.
This is because the values of many such units could be down more than the 20 per cent initial payment and the developer would be out of pocket if it were to treat the SPA as being repudiated. Such developers may have to sue buyers for specific performance - complete the SPA at the contracted price.
But some developers may agree to a payment extension or restructuring for local buyers in hardship.
Developers may find it tough to take legal action against foreign buyers domiciled offshore who walk away from purchases. ‘The practical thing to do may be to treat the SPA as repudiated, take possession of the units and try to resell them or lease them out. Once you go down the route of suing defaulting buyers for specific performance, it will be some time before you can take possession of the units,’ a developer said.
In case The Fernhill units end up being resold by MCL, the price could have implications for neighbouring projects. The price benchmark may hit DPS buyers in these projects who have yet to secure a loan. Even those that have secured loans may be affected as the bank may now assume a lower value for the properties and ask borrowers to top up more equity.
Some analysts said that the latest development at Fernhill may be a sign of things to come as more projects are completed. The situation of multiple unit buyers, especially if they are foreigners, will be keenly watched.
Source : Business Times - 21 Apr 2009
Global recession is coming....
So the retarded now has nothing better to retort and imagined that others spent so much effort just to write those simply things to reply him. No wonder cannot even win an argument! Sometimes it is so fun poking at these retarded idiots who like to sprout nonsense.
lol still going on and on...what a retard
Junior
You should be grateful that they are trying to tell you not to gamble your hard earned money away by buying worthless properties. buying one unit at Illiminaire is enough. Don't buy more. you should stop right here before it is too late.
Newbie
Who ask him to buy the whole project?!!
Junior
Not a person. It is a Chinese company. they can just walk away, since the company is outside Singapore. haha, talk about bubbles.
Newbie
It is the greedy investors that cause bubbles to inflate and burst. It is not surprising that foreign investors would run away in this crisis and a legal battle against a chinese or Indo company would be futile. Even our government was conned and could not get their money back when investing in China, so these foreign investors see it as a golden oportunity to exploit this weakness. BTW I did not buy illuminaire and i never pay more than 1k psf for any propetry that i buy. the high floor condo i bought in the central region is for own stay so i couldn't care less if it goes up or down.
Newbie
If you guys enjoy reading negative news, here is more for you....
Market Update: Where is the Private Home Market Heading?
The unrequited love of supply and demand in 2009
Apr 17, 2009This is the time when everybody tries to keep their jobs – including property analysts and consultants who have also fallen on bad times. God knows which one will lose his or her job for predi window.google_render_ad();cting the wrong thing.
So, to play it safe, the vast majority of property consultants are placing their bets on the private home prices falling a further 10 per cent to 20 per cent in the full year of 2009. That is really not a difficult guess, considering their own incipient fears.
Home prices took a tumble in Q4 2008
The January 2009 Urban Redevelopment Authority (URA) data confirms that the private home prices continued to fall in the final quarter (Q4) of 2008, losing a further 6.1 per cent.
The slump is on top of a 2.4 per cent fall in Q3 2008, which was the first decline in over four years – in stark contrast to the spectacular bull-run in 2007 with home prices rising 31.2 per cent for the whole year.
In Q4 2008, homes in prime districts fell the most – by 6.5 per cent; while suburban home prices dropped 5.9 per cent.
The slump in suburban home prices coincided with price rise in HDB resale flats in the same period, indicating general cautiousness among wage earners who may have opted for the safety of subsidised housing in these difficult times.
New home market the worst hit
The loss of buying confidence was clearly shown in the new home market. For the whole of 2008, only 4,584 new home units (see table at the next page) were sold – which is about 31 per cent of the record 14,811 private home units sold in 2007.
The 2008 sales figure is the lowest in a decade – worse than the previous low of 5,156 and 5,520 units in the last two recessions in 2003 and 1998 respectively.
In terms of supply, the developers launched a total of 6,114 units in 2008, down 56 per cent from a record 14,016 a year ago.
The sales in 2008 were also significantly lower than the annual 10 year average (1998-2007) of 8,200 units.
Within the new home segment, upmarket luxury homes are the worst hit this time round after almost two years of boom. However, the segment is now widely expected to experience higher ratio of distressed sale in 2009. Most buyers are looking at prices at least 20 per cent below Q3 2008 levels before they are willing to commit to a luxury home.
Some property experts predicted developers may sell 5,000-6,000 units in 2009, as the take-up rate may get a boost by more goodies dangled by the developers and cheaper prices.
Unsold inventory is actually much higher
According to data compiled by URA, the total cumulative new home units launched in 2008 were 32,516. Of these units, 28,365 units have been sold. The success rate was 87.23 per cent of all unit launched.
Let’s dissect the numbers and match them with the timeline to ascertain how the market has evolved from the onset of the global recession in early 2008.
Of the total 28,365 units that have been sold, 14,811 units were sold in 2007, and another 4,584 units in 2008. That means 8,970 units were sold in 2006 and earlier.
This shows that the main bulk of the 28,365 units were sold before the October 2008 worldwide stock market crash.
In fact, in the final quarter of 2008, only 680 new home units were sold, comprising 112 units in October 2008, 192 units in November 2008 and 376 units in December 2008. The low figures show that the buying mood has been adversely affected by the global financial woes.
When compared with the sales figure in the preceding months, the quantum of the fall in transaction volume is startling and it is also a faithful reflection of the topsy-turvy in the global financial market.
[FONT='Maiandra GD','sans-serif']Quarters 2008[/FONT]
[FONT='Maiandra GD','sans-serif']New units sold[/FONT]
[FONT='Maiandra GD','sans-serif']Q1[/FONT]
[FONT='Maiandra GD','sans-serif']795[/FONT]
[FONT='Maiandra GD','sans-serif']Q2[/FONT]
[FONT='Maiandra GD','sans-serif']1,516[/FONT]
[FONT='Maiandra GD','sans-serif']Q3[/FONT]
[FONT='Maiandra GD','sans-serif']1,593[/FONT]
[FONT='Maiandra GD','sans-serif']Q4[/FONT]
[FONT='Maiandra GD','sans-serif']680[/FONT]
[FONT='Maiandra GD','sans-serif']Total[/FONT]
[FONT='Maiandra GD','sans-serif']4,584[/FONT]
Besides, the total number of units in all the projects that have been launched so far is 45,335, which means only about 72 per cent of the total units have been launched in the market. And that puts the actual unsold inventory much higher at 16,970 units.
Supply of new home units in the pipeline
According to URA, the total supply of new home units in the pipeline is 64,982 uncompleted units.
Of these, 43,414 units remain unsold, including 3,880 units that had been launched for sale by developers and 14,386 units which had the pre-requisite conditions for sale and could be launched for sale immediately.
The remaining 25,148 units are allowed to be deferred to much later dates, and hopefully, will not aggravate the current supply-demand constraints.
At the end of the day, we are still staring at a high unsold inventory of 18,266 new home units that will be completed and ready for occupancy in this year and next.
And when the 25,148 units eventually join the fray, they will dilute whatever price gains in the future.
Unsold inventory for luxury condo rose
Official data shows that only 1,096 caveats were lodged against luxury apartments/condos in prime districts 9 and 10 in 2008. This represents 19 per cent and 32 per cent of sales done in 2007 and 2006 respectively.
According to a recent CBRE report in January 2009, about 55 per cent of units in luxury projects launched by developers between 2007 and 2008 remained unsold at the close of the misery year of 2008.
The number of apartments sold for more than S$10 million dropped to 82 last year from 143 in 2007. As such, there was also a corresponding fall in prices for the luxury properties.
Average launch price fell to S$2,000 to S$2,600 psf in in the final quarter (Q4) of 2008 from S$2,000 to S$4,000 psf in Q4 2007.
Average resale prices of luxury apartments/condos had dropped to about S$2,000 to S$2,400 psf of strata area in Q4 2008 from S$2,000 to S3,300 psf in 2007.
Secondary market huffed and puffed
The secondary market took a slightly longer time to chill in 2008; however, chill it did.
This is because prospective buyers in general started to take cover after the October worldwide stock market crashes. For the whole of last year, only about 7,400 to 7,600 resale deals were done, compared with 20,985 transactions in 2007.
As such, most experts reckon that there will be a further 10 per cent to 20 per cent decline in prices this year in the benchmark index.
Landed home sales lost momentum
The worldwide stock market crash on 10 October 2008 seems to be the watershed of property market in Singapore. Since October 2008, the buying mood became more circumspect.
The total sales of landed homes in Q4 2008 were 184 houses, compared with 869 houses in the same period a year ago. This represents a fall in sales volume of around 79 per cent.
[FONT='Maiandra GD','sans-serif']Table [1] – Landed property transactions in 2008 [/FONT]
[FONT='Maiandra GD','sans-serif']2008[/FONT]
[FONT='Maiandra GD','sans-serif']Jan [/FONT][FONT='Maiandra GD','sans-serif']Detached[/FONT][FONT='Maiandra GD','sans-serif']Semi-D[/FONT][FONT='Maiandra GD','sans-serif']Terrace[/FONT][FONT='Maiandra GD','sans-serif']Total [/FONT]
[FONT='Maiandra GD','sans-serif']Feb [/FONT][FONT='Maiandra GD','sans-serif']34[/FONT][FONT='Maiandra GD','sans-serif']47[/FONT][FONT='Maiandra GD','sans-serif']116[/FONT][FONT='Maiandra GD','sans-serif']197[/FONT]
[FONT='Maiandra GD','sans-serif']Mar [/FONT][FONT='Maiandra GD','sans-serif']20[/FONT][FONT='Maiandra GD','sans-serif']38[/FONT][FONT='Maiandra GD','sans-serif']101[/FONT][FONT='Maiandra GD','sans-serif']159[/FONT]
[FONT='Maiandra GD','sans-serif']Apr [/FONT][FONT='Maiandra GD','sans-serif']18[/FONT][FONT='Maiandra GD','sans-serif']37[/FONT][FONT='Maiandra GD','sans-serif']119[/FONT][FONT='Maiandra GD','sans-serif']174[/FONT]
[FONT='Maiandra GD','sans-serif']May [/FONT][FONT='Maiandra GD','sans-serif']21[/FONT][FONT='Maiandra GD','sans-serif']39[/FONT][FONT='Maiandra GD','sans-serif']107[/FONT][FONT='Maiandra GD','sans-serif']167[/FONT]
[FONT='Maiandra GD','sans-serif']Jun [/FONT][FONT='Maiandra GD','sans-serif']31[/FONT][FONT='Maiandra GD','sans-serif']56[/FONT][FONT='Maiandra GD','sans-serif']108[/FONT][FONT='Maiandra GD','sans-serif']195[/FONT]
[FONT='Maiandra GD','sans-serif']Jul [/FONT][FONT='Maiandra GD','sans-serif']17[/FONT][FONT='Maiandra GD','sans-serif']39[/FONT][FONT='Maiandra GD','sans-serif']114[/FONT][FONT='Maiandra GD','sans-serif']170[/FONT]
[FONT='Maiandra GD','sans-serif']Aug [/FONT][FONT='Maiandra GD','sans-serif']21[/FONT][FONT='Maiandra GD','sans-serif']41[/FONT][FONT='Maiandra GD','sans-serif']115[/FONT][FONT='Maiandra GD','sans-serif']177[/FONT]
[FONT='Maiandra GD','sans-serif']Sept [/FONT][FONT='Maiandra GD','sans-serif']9[/FONT][FONT='Maiandra GD','sans-serif']33[/FONT][FONT='Maiandra GD','sans-serif']91[/FONT][FONT='Maiandra GD','sans-serif']119[/FONT]
[FONT='Maiandra GD','sans-serif']Oct[/FONT][FONT='Maiandra GD','sans-serif']15[/FONT][FONT='Maiandra GD','sans-serif']40[/FONT][FONT='Maiandra GD','sans-serif']88[/FONT][FONT='Maiandra GD','sans-serif']143[/FONT]
[FONT='Maiandra GD','sans-serif']Nov[/FONT][FONT='Maiandra GD','sans-serif']11[/FONT][FONT='Maiandra GD','sans-serif']23[/FONT][FONT='Maiandra GD','sans-serif']60[/FONT][FONT='Maiandra GD','sans-serif']94[/FONT]
[FONT='Maiandra GD','sans-serif']Dec[/FONT][FONT='Maiandra GD','sans-serif']8[/FONT][FONT='Maiandra GD','sans-serif']10[/FONT][FONT='Maiandra GD','sans-serif']46[/FONT][FONT='Maiandra GD','sans-serif']64[/FONT]
[FONT='Maiandra GD','sans-serif']0[/FONT][FONT='Maiandra GD','sans-serif']6[/FONT][FONT='Maiandra GD','sans-serif']20[/FONT][FONT='Maiandra GD','sans-serif']26[/FONT]
[FONT='Maiandra GD','sans-serif']Source of information: SISVRealink[/FONT]
[FONT='Maiandra GD','sans-serif'][/FONT]
[FONT='Maiandra GD','sans-serif']Table [2] – Landed property transactions in 2007[/FONT]
[FONT='Maiandra GD','sans-serif']2007[/FONT]
[FONT='Maiandra GD','sans-serif']Jan [/FONT][FONT='Maiandra GD','sans-serif']Detached[/FONT][FONT='Maiandra GD','sans-serif']Semi-D[/FONT][FONT='Maiandra GD','sans-serif']Terrace[/FONT][FONT='Maiandra GD','sans-serif']Total[/FONT]
[FONT='Maiandra GD','sans-serif']Feb [/FONT][FONT='Maiandra GD','sans-serif']83[/FONT][FONT='Maiandra GD','sans-serif']106[/FONT][FONT='Maiandra GD','sans-serif']188[/FONT][FONT='Maiandra GD','sans-serif']377[/FONT]
[FONT='Maiandra GD','sans-serif']Mar [/FONT][FONT='Maiandra GD','sans-serif']55[/FONT][FONT='Maiandra GD','sans-serif']110[/FONT][FONT='Maiandra GD','sans-serif']194[/FONT][FONT='Maiandra GD','sans-serif']359[/FONT]
[FONT='Maiandra GD','sans-serif']Apr [/FONT][FONT='Maiandra GD','sans-serif']59[/FONT][FONT='Maiandra GD','sans-serif']130[/FONT][FONT='Maiandra GD','sans-serif']213[/FONT][FONT='Maiandra GD','sans-serif']402[/FONT]
[FONT='Maiandra GD','sans-serif']May [/FONT][FONT='Maiandra GD','sans-serif']105[/FONT][FONT='Maiandra GD','sans-serif']168[/FONT][FONT='Maiandra GD','sans-serif']317[/FONT][FONT='Maiandra GD','sans-serif']590[/FONT]
[FONT='Maiandra GD','sans-serif']Jun [/FONT][FONT='Maiandra GD','sans-serif']128[/FONT][FONT='Maiandra GD','sans-serif']211[/FONT][FONT='Maiandra GD','sans-serif']439[/FONT][FONT='Maiandra GD','sans-serif']778[/FONT]
[FONT='Maiandra GD','sans-serif']Jul [/FONT][FONT='Maiandra GD','sans-serif']106[/FONT][FONT='Maiandra GD','sans-serif']213[/FONT][FONT='Maiandra GD','sans-serif']374[/FONT][FONT='Maiandra GD','sans-serif']693[/FONT]
[FONT='Maiandra GD','sans-serif']Aug [/FONT][FONT='Maiandra GD','sans-serif']123[/FONT][FONT='Maiandra GD','sans-serif']184[/FONT][FONT='Maiandra GD','sans-serif']382[/FONT][FONT='Maiandra GD','sans-serif']689[/FONT]
[FONT='Maiandra GD','sans-serif']Sept [/FONT][FONT='Maiandra GD','sans-serif']70[/FONT][FONT='Maiandra GD','sans-serif']116[/FONT][FONT='Maiandra GD','sans-serif']258[/FONT][FONT='Maiandra GD','sans-serif']444[/FONT]
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[FONT='Maiandra GD','sans-serif']Dec [/FONT][FONT='Maiandra GD','sans-serif']52[/FONT][FONT='Maiandra GD','sans-serif']83[/FONT][FONT='Maiandra GD','sans-serif']177[/FONT][FONT='Maiandra GD','sans-serif']312[/FONT]
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Prices of landed properties fell by 4.8 per cent in Q4 2008, compared with the decrease of 1.9 per cent in Q3.
Prices of detached, semi-detached and terrace houses fell by 5.3 per cent, 3.9 per cent and 4.7 per cent respectively in Q4 2008.
For the year 2008 as a whole, prices of detached, semi-detached and terrace houses fell by 3.1 per cent, 1.0 per cent and 1.7 per cent respectively.
Sub-sale sellers appear edgy
Likewise, sub-sale deals also fell from the height of 4,863 units in 2007 to between 1,600 and 1,650 units in 2008.
According to Savills’ recent report in February 2009, sub-sale deals of new home units at some popular projects were transacted at close to the average launched prices. At some prime projects which are still under construction, many units were even sub-sold recently at below their launch prices.
Sub-sale prices may be at touching distance of launch prices of 2006. Savills says that units at 11 developments that were launched between 2006 and 2008 have come down to below their launch levels.
For example, Duchess Residences in Bukit Timah, which was launched in 2007 at an average launch price of S$1,825 per square foot (psf), had a couple of sub-sale deals that were done at an average of S$1,675 psf. A 1,604 sq ft home at Duchess Residences was recently advertised for sale at S$1,500 psf – way below the original launch price.
Two recent sub-sale deals done in January 2009 at Park Infinia at Wee Nam in Lincoln Road were at S$1,180 psf for a 969 sq ft unit and S$1,061 psf for a 1,442sq ft unit, which are more than 20 per cent cheaper than the average sub-sale prices of between S$1,500 and S$1,600 psf achieved in 2008.
Sellers of new condominium units are also appearing to be edgy of late, judging by the level of asking prices in the classified advertisements. For example, a unit at The Orchard Residences was advertised for sale at S$2,600 psf, compared with the highest transacted price of S$4,750 psf in February 2008.
A seller at One Shenton in Shenton Way asked for S$888 psf, compared with its launch price of between S$1,500 to more than S$2,000 psf in early 2007.
Sellers at The Sea View at Amber Road are asking for slightly over S$1,000 psf, compared with the sub-sale prices of around S$1,200 psf to S$1,500 psf earlier.
The fall in sub-sale prices will no doubt further compound the problems faced by the developers, who are trying to lure back buyers into the show units with more carrots.
It seems that the worst has yet to come for the private residential market.
No respite in sight for falling office rents
Office rents in prime districts, which have already shown signs of weariness recently, could dive due to a huge stock of office space that is rising amid tough times and rising job losses. Singapore is being hit hard by the falling foreign direct investment as the small economy relies heavily on foreign participation in its economy.
An international consultancy put the expected rent fall to as much as 40 per cent of 2008 rent by 2010 due to the following reasons:
(a) So far this year, pre-lease agreements by tenants for office space to be available in 2009 and 2010 are estimated to be only 30 per cent.
(b) A total of 10.7 million sq ft of office space will be available by 2013 - of which 15 per cent of the space or 2.7 million sq ft will be ready by 2010.
(c) Demand, which averaged about 2 million sq ft a year in the past two years, is expected to fall by more than half, and possibly to just 500,000 sq ft a year.
Prime office rents may fall from a high of S$14.20 per sq ft a month in December 2008 to S$12 psf a month in 2009 and further to S$8 psf in 2010 – in the meantime, prime office vacancy rates are set to go up by easily more than 10 per cent.
Office vacancy will shoot from mid 2009
With more new supply of office space coming on stream in 2009 and 2010, the vacancy rate will rise, and this will have a negative implication for office rents.
In all, about 1.7 million sq ft of new offices are slated for completion this year and they include 71 Robinson Road, the Straits Trading Building redevelopment, Tampines Grande and an extension to 78 Shenton Way.
In 2010, another 2.8 million sq ft of new office space will be added into the stock, followed by a further 2.5 million sq ft in 2011.
A market observer pointed out that Just this year alone there may be some 500,000 sq ft of office space without takers, due to the corporate shake-up which is taking place throughout the globe.
In the mean time, the migration of backroom operations of the major financial institutions, such as banks, from the Central Business District (CBD) to lower cost areas continues.
Prepared by Sam Gian - Independent Real Estate Sales Trainer
Newbie
lol more rubbish from the retarded teddybearSo the retarded now has nothing better to retort and imagined that others spent so much effort just to write those simply things to reply him. No wonder cannot even win an argument! Sometimes it is so fun poking at these retarded idiots who like to sprout nonsense.
Newbie
franzmark, better don't let that retarded teddybear see you post all those facts above. else he will call you god too
Global recession is coming....
Losers always like halucinating that others are in worse situation than them and if it satisfies them in this way, no problem with me.
No wonder the loser always so scare of foreclosure and banks asking for topups.
lol more rubbish from the retarded teddybear
Newbie
lol, how to have foreclosures or topups when i do not even have any loans outstanding?Losers always like halucinating that others are in worse situation than them and if it satisfies them in this way, no problem with me.
No wonder the loser always so scare of foreclosure and banks asking for topups.
i just bought a beemer and paid cash and the SE said less than 1% of their customers paid cash
Newbie
That's BMW for you. Lots of poseurs who take low downpayment, long tenure loans. These are the same people who can barely afford one. I dunno why, it is characteristic of the BMW brand's buyers in Singapore.
If I were you, I wouldn't pay cash for a new beemer. BMW's image is already such that people will just assume you're one of those 10 year loan, 0% downpayment poseurs who could ill-afford a BMW, when they see you on the streets. Might as well take a loan. You can't wear a sign on your beemer proclaiming that you paid cash, anyways.
In this premium conti, sub-exotic price segment, the smart money drive Maserati, MB, Volvo and maybe Jaguar. Carrotheads almost always drive Audi/Volkswagen, while dealers laughing to the bank. I draw the line at Porsche, despite knowing the dealer's obscene profit margins. Why? Same as Benz, the prestige of Porsche takes you a long way, plus the performance of the Cayman and 911 cars are better than anything BMW has to offer.
They say you can guess the character and personality of a person from the car he drives. Well I am sad and disappointed to say that the smart yuppie image of BMW drivers has long gone. BMW's are incredibly passe now. Jeremy Clarkson calls it a car driven by cocks (pricks).
Now when you see a BMW on the roads, it is highly likely the driver is some ah beng, ah pek or ah soh. Whatever happened to the stylish dashing young BMW driver profile?
Being a long term fan of BMW, having owned 3 in past years, just last year I switched to the 3 point star with a V8. It could have been due to my age, but more likely: 1) fed up with BMW's N52 engine, supposedly one of their best engines. 2) fed up with the BMW ah beng poseur image. Same reason why i'll never be caught dead in a GTi but i'll be happy to be seen in a Cooper S.
Newbie
bro are you sure you are in the correct forum?
Newbie
yealor, who cares whether u owned 3 bmw or bmx b4... this is not car or bmw forum
Junior
maserati is sports car leh, same category as aston martin & porsche
bmw, audi, mb are considered mass producers. diff market lor
Junior
chialat, i drive a lau pok jepun chia - out of place here
TCSS
What car you drive doesn't really matter.
I've a friend who drives a nice Audi (at least to me). But his income goes towards paying his property & car loan every month. He hardly has extra cash as savings.
I also know of a low profile miliionair who own multiple properties but he don't drive at all. I ask him why? He says it a depreciating asset, dn't want to waste money. Besides, transport system is too good here (Taxi, MRT, bus), there is no need to spend this kind of money. It's his own way of money management. This is his personal opinion of car. Doesn't mean that everyone has to be like him.
But it's a fact that when economy is bad, people get rid of their car as the firstt resort to reduce expenses. I've seen a few friends/relatives who have gone through this.
Newbie
i fully agree. cars are a depreciating asset and not really necessary in singapore. but i won't know how to get around without a car
but must spend somehow to help boost singapore's economy. also, too much money parked in banks also earning peanuts. if everyone cut back too much, how is the economy going to recover?
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