Page 10 of 45 FirstFirst 12345678910111213141516171819203040 ... LastLast
Results 181 to 200 of 893

Thread: The Sea View (D15, Freehold, Wheelock Properties)

  1. #181
    Real Estate pundit
    Guest

    Default Latest transaction at The Sea View

    #14-08 1216sqft $1260psf $1,532,160 30Jun08
    #20-20 560sqft $1289psf $716,800 26 Jun08
    #03-15 1410sqft $1028psf $1,450,000 17Jun08
    #09-14 1647sqft $1450psf $2,388,150 13Jun08
    #12-21 1216sqft $1065psf $1,295,040 12Jun08
    #08-15 1410sqft $1100psf $1,551,000 10Jun08


    No transactions caveated between 1st to 11th july 2008.

    I wonder if the marginal owners are still holding out for $1,400psf?

  2. #182
    Uregistered
    Guest

    Talking

    Quote Originally Posted by oxboy99
    Just browsing the paper, I can see Anchorage across IKEA Alexander and near ABC market and Tiong Bahru for 1k psf without any negotiation. Why live so far from city when you can buy one 10 min from Orchard with potential for en bloc in future?

    But one bad thing is it's old and needs renovation... but I'm sure there are other places which are newer ard that area for ard that price if you want new...

    I think a more realistic/reasonable price would be 800psf for this area.
    keep dreaming and salivating - opp LH 99 Silver Sea laucnhing at min 1.5Kpsf

  3. #183
    Junior

    User Info Menu

    Default

    Still waiting for the right time and price.

  4. #184
    Real Estate Pundit
    Guest

    Default

    Developer can launch at any price they want. Finding the buyer to pay for it is another issue.

    Can property prices continue to hold at current asking prices?

    Now you see big property investors unloading their investment units. Takral Land with many many units of The Sovereign for sale, currently built up to only 1.8 plot ratio too! And the latest is Straits Trading hoping to unload their many many units of Gallop Gables on Farrer Road........guess they not waiting for the MRT to be ready.

    Since the big boys are cashing out.....isn't this a sign?



    Quote Originally Posted by Uregistered
    keep dreaming and salivating - opp LH 99 Silver Sea laucnhing at min 1.5Kpsf

  5. #185
    East Lover 2
    Guest

    Default

    Quote Originally Posted by Real Estate Pundit
    Developer can launch at any price they want. Finding the buyer to pay for it is another issue.

    Can property prices continue to hold at current asking prices?

    Now you see big property investors unloading their investment units. Takral Land with many many units of The Sovereign for sale, currently built up to only 1.8 plot ratio too! And the latest is Straits Trading hoping to unload their many many units of Gallop Gables on Farrer Road........guess they not waiting for the MRT to be ready.

    Since the big boys are cashing out.....isn't this a sign?
    Totally agree. The developer can ask any price, the owner can ask whatever high price they want, the question is: who want to buy?
    Noticed more and more foreigner went back, the rental will start to drop, how long can the owner hold?

  6. #186
    UPUP
    Guest

    Default

    Quote Originally Posted by East Lover 2
    Totally agree. The developer can ask any price, the owner can ask whatever high price they want, the question is: who want to buy?
    Noticed more and more foreigner went back, the rental will start to drop, how long can the owner hold?
    You wait long long la......

    Citi sees no oversupply of homes in next two years

    It estimates only 60% of the 30,000 units forecast will be completed, so fall in prices will be modest

    By Joyce Teo, Property Correspondent


    ANALYSTS from Citigroup have stuck their necks out to dismiss some market predictions of a crippling property glut in the next two years.

    Official figures show that around 30,000 homes will be completed in the next two years, but Citi reckons only around 60 per cent will likely be ready.

    If the bank's forecast is accurate, it could mean that downward pressure on prices will not be as great as some had feared.

    Citi's report on Singapore property, which came out on Tuesday, pointed to where previous predictions may have got it wrong.

    It stated that by the end of March, there were 6,000 collective sale units that had yet to be demolished.

    Some of the delays are because of legal challenges over sales, as well as developers extending lease periods for owners due to the weak primary market, Citi said.

    It estimated that there will be 8,200 units completed next year and 10,200 in 2010, assuming no further collective sales are done.

    These numbers are way below market expectations of 12,500 units next year and 17,500 units in 2010, it said.

    These higher supply numbers had led many experts to conclude that an oversupply was on the cards.

    But Citi stated: 'We have always argued that such estimates are not always accurate and they often get revised downward over time.'

    However, it did not elaborate further on the reasons for its lower supply projections.

    Knight Frank director of research and consultancy Nicholas Mak said the direct impact of the supply completion figures on prices is limited because most of these homes would already have been sold.

    But a large supply of homes for occupation would negatively affect rentals, and this would in turn hit prices, he added.

    Savills Singapore also believes the supply figures released by the Urban Redevelopment Authority are too high.

    Mr Ku Swee Yong, its director of marketing and business development, said completion delays in collective sales, as well as delayed launches, have not been factored in.

    'There are insufficient construction resources, which means there will likely be delays,' he added.

    'Prices of mid- to high-end properties will fall but not to the extent of the 30 per cent to 40 per cent drop predicted by some analysts.'

    Banks like Credit Suisse and Barclays Capital have forecast drops of up to 40 per cent in rents and prices, but Citi tips a fall of up to 30 per cent, and largely only in high-end homes.

    Citi expects this sector will suffer from falling demand, particularly as expatriates and locals keep downgrading.

    That will put downward pressure on rents of prime homes and further pressure on prices, it said.

    Citi also said a long downturn like the one that caught out many buyers in the late 1990s and early 2000s is unlikely.

    This is because resale volumes are still at above average levels, reflecting strong genuine demand. There is no sign of overbuilding or an overall housing shortage.

    Also, mass market homes remain highly affordable and are supported by high rental yields of more than 5 per cent, Citi said.

    'Due to the sharp rise, we believe high-end residential is likely to suffer the brunt of the 20 per cent to 30 per cent price decline while the mass market should remain fairly firm.'

    The mid-tier segment is likely to fall by 10 per cent to 20 per cent, it said. These are from a high base.

    Luxury home prices have surged by 149 per cent since the troughs in 2004.

    Prices in the mid-tier and mass-market segments rose by a still robust 79 per cent and 39 per cent respectively.

  7. #187
    Unregistered123
    Guest

    Default

    Read carefully:

    Knight Frank director of research and consultancy Nicholas Mak said the direct impact of the supply completion figures on prices is limited because most of these homes would already have been sold.

    But a large supply of homes for occupation would negatively affect rentals, and this would in turn hit prices, he added.
    ...
    The mid-tier segment is likely to fall by 10 per cent to 20 per cent, it said. These are from a high base.

    SV is mid-tier right?

  8. #188
    Real Estate Pundit
    Guest

    Default

    I guess UPUP didn't see this posting by Mr Funny 1 hour ago.


    http://www.todayonline.com/articles/266757.asp

    Thursday, July 24, 2008

    Oversupply Worse than Expected?

    There is a distinct possibility of lower prices with so many developmentsset to be completed at the same time

    Colin Tan


    RECENT arguments against earlier predictions of a private housing oversupply are overblown, and cannot be further from the truth. In fact, those predicting an oversupply are probably understating their case. How bad the market fares will depend on the economy. But, leaving the economic factor aside, demand and supply factors alone dictate that the market has to correct in a significant way.

    But before we go into that, let us examine the construction bottleneck argument. It is claimed, with justification, that this will result in significant delays to future supply. By one industry estimate, only 60 per cent of the 30,000 units forecasted will be completed as scheduled.

    But when does completion date matter when new units these days are sold off-plan, even before construction starts? What will impact prices is surely the timing of the sale. Nothing can prevent all 30,000 units from flooding the market within the next 12 months if developers choose to launch. By the same token, nothing can force developers to sell if they don’t want to.

    It is easy to forget that there was very little new supply from September last year to May this year. But, in a matter of weeks, this number has probably tripled, or even quadrupled. A friend with an avid interest in properties remarked to me recently that he will need a few months just to visit all the show units.

    And while some have predicted a 30-to-40 per cent price correction for the luxury/upper-tier segment, it is interesting to note that this segment actually saw far fewer launches in the past weeks. So, in the current market, the luxury/upper tier segment actually faces less competition and hence, less pressure to lower prices. However, it does not mean it is in a healthier position, as buying for this segment has dwindled to a trickle.

    When does completion actually matter in the housing demand and supply equation? I would say, it is when the market is investor-dominated. When buying is mainly done by owner-occupiers, the moment a unit is sold, it is taken out of the supply equation. Supply gets depleted. This was the situation in the past. We determine whether the market is oversupplied or not by the amount of units left unsold versus potential demand.

    But, when the market is investor-dominated, sold units held by investors remain in the supply equation as investors need to sell onward to owner-occupiers or have them tenanted.

    By my conservative estimates, more than 50 per cent of the units sold in 2006 to 2007 were bought by investors. This is because the high prevailing prices then were beyond the affordability of most owner-occupiers. This is supported by a recent National University of Singapore study which showed that the affordability of owner-occupiers for private housing has declined significantly in recent years.

    Some projects, such as The Sail at Marina Bay, Marina Bay Residences and One Shenton, as well as those on Sentosa island, will most definitely have a higher proportion of investor buyers — as high as 60 to 80 per cent — because there are few of the amenities nearby, such as schools, which are usually desired by owner-occupiers, unless a case can be made out that the majority of units are holiday homes for the super-rich, or are bought by singles. For singles, their level of affordability is even lower.

    Between the second quarter of 2006 and third quarter of 2007, developers sold an astounding 22,651 units. This translates to an annual average pace of about 15,100 units, or about double the long-term average absorption rate of about 7,000 to 8,000 units. Conservatively, this means at least 12,000 “sold” units remain in the supply equation.

    When these investor-owned units are completed, someone has to occupy them. If rentals then cannot cover mortgage payments and if owners are highly-geared, they will have to contemplate selling the units sooner or later.

    If more owners are in the same predicament, the competition to sell will result in lower prices.


    The writer is head of research at Chesterton International.

  9. #189
    Newbie

    User Info Menu

    Default Might as well buy the Sail

    Quote Originally Posted by Uregistered
    keep dreaming and salivating - opp LH 99 Silver Sea laucnhing at min 1.5Kpsf
    Uh... are u kidding?

    I can get The Sail for that price and I get a view of the IR - the cheapest in the paper is 1.6kpsf for The Sail in ****ing Raffles Place with covered walkway to the MRT. Can you beat that?!

    And the price will only go up for The Sail while the launch of Silversea will only drag down Seaview and One Amber prices once the area over saturates. Oh wait... judging from the traffic jams.... it already has!

  10. #190
    UpUp
    Guest

    Default

    Quote Originally Posted by Real Estate Pundit
    I guess UPUP didn't see this posting by Mr Funny 1 hour ago.


    http://www.todayonline.com/articles/266757.asp

    Thursday, July 24, 2008

    Oversupply Worse than Expected?

    There is a distinct possibility of lower prices with so many developmentsset to be completed at the same time

    Colin Tan


    RECENT arguments against earlier predictions of a private housing oversupply are overblown, and cannot be further from the truth. In fact, those predicting an oversupply are probably understating their case. How bad the market fares will depend on the economy. But, leaving the economic factor aside, demand and supply factors alone dictate that the market has to correct in a significant way.

    But before we go into that, let us examine the construction bottleneck argument. It is claimed, with justification, that this will result in significant delays to future supply. By one industry estimate, only 60 per cent of the 30,000 units forecasted will be completed as scheduled.

    But when does completion date matter when new units these days are sold off-plan, even before construction starts? What will impact prices is surely the timing of the sale. Nothing can prevent all 30,000 units from flooding the market within the next 12 months if developers choose to launch. By the same token, nothing can force developers to sell if they don’t want to.

    It is easy to forget that there was very little new supply from September last year to May this year. But, in a matter of weeks, this number has probably tripled, or even quadrupled. A friend with an avid interest in properties remarked to me recently that he will need a few months just to visit all the show units.

    And while some have predicted a 30-to-40 per cent price correction for the luxury/upper-tier segment, it is interesting to note that this segment actually saw far fewer launches in the past weeks. So, in the current market, the luxury/upper tier segment actually faces less competition and hence, less pressure to lower prices. However, it does not mean it is in a healthier position, as buying for this segment has dwindled to a trickle.

    When does completion actually matter in the housing demand and supply equation? I would say, it is when the market is investor-dominated. When buying is mainly done by owner-occupiers, the moment a unit is sold, it is taken out of the supply equation. Supply gets depleted. This was the situation in the past. We determine whether the market is oversupplied or not by the amount of units left unsold versus potential demand.

    But, when the market is investor-dominated, sold units held by investors remain in the supply equation as investors need to sell onward to owner-occupiers or have them tenanted.

    By my conservative estimates, more than 50 per cent of the units sold in 2006 to 2007 were bought by investors. This is because the high prevailing prices then were beyond the affordability of most owner-occupiers. This is supported by a recent National University of Singapore study which showed that the affordability of owner-occupiers for private housing has declined significantly in recent years.

    Some projects, such as The Sail at Marina Bay, Marina Bay Residences and One Shenton, as well as those on Sentosa island, will most definitely have a higher proportion of investor buyers — as high as 60 to 80 per cent — because there are few of the amenities nearby, such as schools, which are usually desired by owner-occupiers, unless a case can be made out that the majority of units are holiday homes for the super-rich, or are bought by singles. For singles, their level of affordability is even lower.

    Between the second quarter of 2006 and third quarter of 2007, developers sold an astounding 22,651 units. This translates to an annual average pace of about 15,100 units, or about double the long-term average absorption rate of about 7,000 to 8,000 units. Conservatively, this means at least 12,000 “sold” units remain in the supply equation.

    When these investor-owned units are completed, someone has to occupy them. If rentals then cannot cover mortgage payments and if owners are highly-geared, they will have to contemplate selling the units sooner or later.

    If more owners are in the same predicament, the competition to sell will result in lower prices.


    The writer is head of research at Chesterton International.
    Private homes to take a slower road to completion

    Many units pushed back as costs rise and sentiment falters
    The latest news is good or bad - depending on your point of view. Official data now shows that the number of private homes that could be completed by end-2011 may be less than previously thought - which means residential rental and capital values could hold better than expected.

    Urban Redevelopment Authority’s (URA) latest Q2 figures, based on quarterly surveys of developers, showed that 46,480 private homes are expected to be completed between Q3 2008 and end-2011. This figure is 18 per cent - or 10,021 units - lower than the figure of 56,501 units slated for completion between Q2 2008 and 2011 listed in URA’s Q1 data.
    Of these, 2,587 units were completed in the second quarter and have hence been removed from the supply pipeline, URA explained. Other completions have been put on hold as some developments have been postponed - as seen in the case of some en bloc sale sites. Rising construction costs and cautious market sentiment have delayed the construction of other projects.
    Notwithstanding this, URA highlighted that the total supply of new private homes in the pipeline stood at 67,569 units as at end-Q2 2008 - about the same as 67,736 units at end-Q1. However, more of these units may now see completion after 2011.

    Some industry players welcomed the latest figures, which will hopefully clear up some of the question marks about home completions.
    Knight Frank managing director Tan Tiong Cheng said: ‘Rents should hold better and capital values should also hold slightly better. Basically the window widens for those who’ve bought homes earlier on deferred payment schemes to clear their purchases if their units are in projects whose completions are being delayed. In short, there should be less panic selling.’
    Typically, deferred payment schemes - scrapped since last October - expire when a project is completed, which is when buyers have to pay the bulk of their purchase price to developers. As a result, ’specuvestors’ tend to offload their units in projects before they are completed.
    However, Mr Tan also pointed to a potential downside for developers whose projects are in the immediate vicinities of condos sold earlier. ‘As a developer, I face competition for sellers from those specuvestors who’ve bought in nearby projects for a longer period now if the project completions are delayed.’
    URA’s price index for non-landed private homes in Core Central Region (CCR) dipped 0.1 per cent in Q2 over the preceding quarter - for the first time since Q1 2004, the earliest period for which such data is available.
    The Q2 decline in CCR - which includes the prime districts 9, 10 and 11, the financial district and Sentosa Cove - came on the back of a 0.5 per cent drop in the price index for uncompleted homes in the region; the index for completed homes rose 0.3 per cent.
    Non-landed home price index (overall, covering both completed and uncompleted units) rose 0.7 per cent in Q2 for Rest of Central Region and by 0.9 per cent in Outside Central Region.
    URA’s headline islandwide price index for private homes (landed and non-landed) inched up 0.2 per cent quarter on quarter in Q2 - weaker than the 0.4 per cent flash estimate rise announced earlier this month. The index has risen 3.9 per cent in the first half from the end-2007 level - after escalating 31.2 per cent for the whole of 2007.
    Looking ahead, CB Richard Ellis executive director Li Hiaw Ho said: ‘Correction of residential prices, to the tune of 5 to 10 per cent in H2 2008, will be inevitable but is likely to vary according to location, product type and target market’, citing the continued toll of the sub-prime mortgage meltdown on the global economy and high inflation.
    Developers sold a total 1,525 private homes in Q2, double the Q1 volume. But overall in H1 2008, they have sold only 2,287 units, which is around just one quarter of the 9,912 units developers sold in the same period last year.
    The total number of subsale transactions - often seen as a proxy for speculative activity - rose 10.6 per cent quarter on quarter to 440. Leading the pack was the Outside Central Region (OCR), where subsale volume jumped 39 per cent to 154 units. Subsales in Q2 made up 8.1 per cent of private home deals in the region, which includes mass-market locations, up from 6.7 per cent in Q1.
    URA said that examples of projects that saw significant subsales in OCR in Q2 include The Centris in Jurong (15 units) and The Raintree near Bukit Timah Nature Reserve (16 units). Analysts say that The Calrose in Yio Chu Kang and Varsity Park Condo also saw at least 10 subsales each in Q2.
    Some of these projects have either received Temporary Occupation Permit or will be getting it soon; investors tend to sell off units shortly before or after a project gets TOP as buyers are willing to pay a slightly higher price then, because units can be immediately rented, analysts noted.

  11. #191
    AgentKoh
    Guest

    Default

    Quote Originally Posted by UpUp
    Private homes to take a slower road to completion

    Many units pushed back as costs rise and sentiment falters
    The latest news is good or bad - depending on your point of view. Official data now shows that the number of private homes that could be completed by end-2011 may be less than previously thought - which means residential rental and capital values could hold better than expected.

    Urban Redevelopment Authority’s (URA) latest Q2 figures, based on quarterly surveys of developers, showed that 46,480 private homes are expected to be completed between Q3 2008 and end-2011. This figure is 18 per cent - or 10,021 units - lower than the figure of 56,501 units slated for completion between Q2 2008 and 2011 listed in URA’s Q1 data.
    Of these, 2,587 units were completed in the second quarter and have hence been removed from the supply pipeline, URA explained. Other completions have been put on hold as some developments have been postponed - as seen in the case of some en bloc sale sites. Rising construction costs and cautious market sentiment have delayed the construction of other projects.
    Notwithstanding this, URA highlighted that the total supply of new private homes in the pipeline stood at 67,569 units as at end-Q2 2008 - about the same as 67,736 units at end-Q1. However, more of these units may now see completion after 2011.

    Some industry players welcomed the latest figures, which will hopefully clear up some of the question marks about home completions.
    Knight Frank managing director Tan Tiong Cheng said: ‘Rents should hold better and capital values should also hold slightly better. Basically the window widens for those who’ve bought homes earlier on deferred payment schemes to clear their purchases if their units are in projects whose completions are being delayed. In short, there should be less panic selling.’
    Typically, deferred payment schemes - scrapped since last October - expire when a project is completed, which is when buyers have to pay the bulk of their purchase price to developers. As a result, ’specuvestors’ tend to offload their units in projects before they are completed.
    However, Mr Tan also pointed to a potential downside for developers whose projects are in the immediate vicinities of condos sold earlier. ‘As a developer, I face competition for sellers from those specuvestors who’ve bought in nearby projects for a longer period now if the project completions are delayed.’
    URA’s price index for non-landed private homes in Core Central Region (CCR) dipped 0.1 per cent in Q2 over the preceding quarter - for the first time since Q1 2004, the earliest period for which such data is available.
    The Q2 decline in CCR - which includes the prime districts 9, 10 and 11, the financial district and Sentosa Cove - came on the back of a 0.5 per cent drop in the price index for uncompleted homes in the region; the index for completed homes rose 0.3 per cent.
    Non-landed home price index (overall, covering both completed and uncompleted units) rose 0.7 per cent in Q2 for Rest of Central Region and by 0.9 per cent in Outside Central Region.
    URA’s headline islandwide price index for private homes (landed and non-landed) inched up 0.2 per cent quarter on quarter in Q2 - weaker than the 0.4 per cent flash estimate rise announced earlier this month. The index has risen 3.9 per cent in the first half from the end-2007 level - after escalating 31.2 per cent for the whole of 2007.
    Looking ahead, CB Richard Ellis executive director Li Hiaw Ho said: ‘Correction of residential prices, to the tune of 5 to 10 per cent in H2 2008, will be inevitable but is likely to vary according to location, product type and target market’, citing the continued toll of the sub-prime mortgage meltdown on the global economy and high inflation.
    Developers sold a total 1,525 private homes in Q2, double the Q1 volume. But overall in H1 2008, they have sold only 2,287 units, which is around just one quarter of the 9,912 units developers sold in the same period last year.
    The total number of subsale transactions - often seen as a proxy for speculative activity - rose 10.6 per cent quarter on quarter to 440. Leading the pack was the Outside Central Region (OCR), where subsale volume jumped 39 per cent to 154 units. Subsales in Q2 made up 8.1 per cent of private home deals in the region, which includes mass-market locations, up from 6.7 per cent in Q1.
    URA said that examples of projects that saw significant subsales in OCR in Q2 include The Centris in Jurong (15 units) and The Raintree near Bukit Timah Nature Reserve (16 units). Analysts say that The Calrose in Yio Chu Kang and Varsity Park Condo also saw at least 10 subsales each in Q2.
    Some of these projects have either received Temporary Occupation Permit or will be getting it soon; investors tend to sell off units shortly before or after a project gets TOP as buyers are willing to pay a slightly higher price then, because units can be immediately rented, analysts noted.
    Prices are sinking. SELL before too late

  12. #192
    11
    Guest

    Default

    Privatehousing market colleapsing very soon, by end year prices will go down by at least 30%, why buy anything now?

  13. #193
    Newbie

    User Info Menu

    Default

    Referencing an article by Fiona on todays news paper. It was quoted The Seaview rental has no demand.

    I am skeptical as it usually take a while for a newly TOP project to fill up, especially for larger projects and Seaview is pretty large.

    Any owner like to share his situation?

  14. #194
    Unregˇstered
    Guest

    Default

    Quote Originally Posted by 11
    Privatehousing market colleapsing very soon, by end year prices will go down by at least 30%, why buy anything now?
    You say going down by 30%.
    They say going up by 30%.
    All are talking cock cos' talk cock is free.

    That's why people are ignoring all these going down/up cocks and still buying based on their own analysis.

  15. #195
    Unregˇstered
    Guest

    Default

    Quote Originally Posted by AgentKoh
    Prices are sinking. SELL before too late
    You say sinking.
    AgentHo says rising.
    Both of you are talking cock cos' talk cock is free.

    That's why people are ignoring the Koh's and Ho's cocks and buying based on their own analysis.

  16. #196
    Unregistered1
    Guest

    Default

    Record 13,400 homes to be completed next year
    Rents expected to fall, especially in prime districts and East Coast. Fiona Chan reports.

    Next year is likely to be a bad one for landlords.
    A bumper crop of newly completed homes is scheduled to flood the market, making more apartments available for rent and pushing down rents, which saw record rises last year.

    And with lower rents, private home prices - which industry observers say have reached their peak - may drop further, especially those in the prime districts.

    A massive 13,399 new private homes will be ready for occupation next year. This is double the average in recent years and the most in a single year, according to property consultancy CB Richard Ellis (CBRE).

    Official supply numbers show 10,500 completions next year and 11,800 the year after, but CBRE's analysis, based on construction progress and delays, reveals more completions next year.

    It expects this new supply to depress rents by 5 to 10 per cent on average next year, coming on top of a global economic slowdown that might lead firms to hire fewer expatriates, the main source of tenants.

    In the prime areas, rents could slide up to 15 per cent next year, on top of a decline that has already begun this year, predicted CBRE.

    Popular rental areas such as the East Coast and Orchard will be among the worst hit as keen demand for homes there in recent years led developers to build aggressively.

    An 'alarming' 3,341 new homes will be completed in the East Coast next year, double the number this year, CBRE said. Major projects in the area, which covers Katong and Marine Parade to Bedok and Changi, include the 562-unit One Amber and the 556-unit Casa Merah.

    In the prime districts 9, 10 and 11, some 4,240 homes will be ready in areas such as Orchard, Holland, River Valley, Tanglin and Newton. RiverGate, with 545 units, is the biggest condominium scheduled to open its doors.

    Suburban areas will also see a large jump in finished homes next year. In the north and north-west, for example, there will be 10 times more than this year.

    But this is unlikely to result in a glut or lower rents as most suburban home buyers intend to occupy their units.

    Property experts warn that many major prime projects to be ready this year and next are those that had attracted investors rather than owner-occupiers, which means their units will add to the rental supply.

    'Some big condos in the downtown areas have a higher proportion of investors,' said Mr Colin Tan of property firm Chesterton International. These include the 1,111-unit Sail @ Marina Bay, which will be fully completed by the end of this year, and the 312-unit Clift in McCallum Road, expected next year.

    'We don't even have to wait for the 14,000 homes next year; rents are already moderating and should come down in the third quarter,' he said, adding that landlords are lowering their asking rentals.

    He cited the case of The Sea View in Amber Road, whose 546 units were completed this year. 'I asked someone there, how are the rents? He said: 'I'm not sure really, there's no demand'.'

    This will be welcome news for renters, who have had to face ever-increasing rents over the last two years.

    Rents have shot up 60 per cent on average since 2006 and even doubled in some places, thanks to an influx of expats and a shortage of rental homes.

    For example, in Cuscaden Residences in the Tanglin area, a typical 1,485 sq ft unit could fetch $9,200 in monthly rents last year, from about $6,500 in 2005. This year, it has fallen to $8,100, according to recent reports. Next year, it could fall by another 10 per cent to $7,300, if CBRE's predictions come true.

    Entrepreneur Sebastien Dechamps, 29, who came here from France three years ago and started a website for expatriates, said high rents have seen more expatriates moving away from the city to places in the north and the east.

    'The fall in rental prices is definitely good news. It might encourage expats to move to the city, which is great because they can put more vibrancy back into the city and into its nightlife,' he said.

    A fall in rentals generally leads to a fall in home prices for two reasons: landlords, less able to service their mortgages, are willing to let go of their units more cheaply, while would-be investors will only pay as much as a home can fetch in rents.

    The supply situation is not likely to improve beyond 2010: The latest official data shows that apart from the 21,000 or so homes to be completed over the next two years, there are another 20,000 homes scheduled to be built in 2011.

    But Savills Singapore's director of business development and marketing, Mr Ku Swee Yong, is still optimistic.

    He expects higher than average housing demand during 'the next few years of growth', and believes that after accounting for demolitions of collective sale estates, the 'net supply should be balanced by demand'.

    Source: Straits Times

  17. #197
    Unregistered1
    Guest

    Default No demand in rents @ SV?

    ***
    He cited the case of The Sea View in Amber Road, whose 546 units were completed this year. 'I asked someone there, how are the rents? He said: 'I'm not sure really, there's no demand'.'
    ***
    How true is it? what's the impact?

  18. #198
    abc
    Guest

    Cool

    Quote Originally Posted by Unregistered1
    ***
    He cited the case of The Sea View in Amber Road, whose 546 units were completed this year. 'I asked someone there, how are the rents? He said: 'I'm not sure really, there's no demand'.'
    ***
    How true is it? what's the impact?
    Alamak, this clown asked the cleaning aunty / uncle, sure they tell them....don't know lah!!!

    Go and do your professional self a favour, ask the right sources and do the your sum right. So many units are now rented out. Mine and my next door neighbor oso rented out. What nonsense this lazy reporter said, no demand.

  19. #199
    vino
    Guest

    Default

    Quote Originally Posted by abc
    Alamak, this clown asked the cleaning aunty / uncle, sure they tell them....don't know lah!!!

    Go and do your professional self a favour, ask the right sources and do the your sum right. So many units are now rented out. Mine and my next door neighbor oso rented out. What nonsense this lazy reporter said, no demand.
    Rental demand is definitely there, is a matter of what price only. If owner ask sky high rental then good luck to you. Some expats are downgrading by moving to outskirts already. There's a limit to everything, for property owners who think Singapore is different becoz of blah blah blah then may your luck be with you.

  20. #200
    abc
    Guest

    Cool

    Quote Originally Posted by vino
    Rental demand is definitely there, is a matter of what price only. If owner ask sky high rental then good luck to you. Some expats are downgrading by moving to outskirts already. There's a limit to everything, for property owners who think Singapore is different becoz of blah blah blah then may your luck be with you.
    Just to let you know, rented out above $7,500k for 4 rm units (unfurnished). Likewise for my next door unit. Is this high or low? On top of that, when I go back to Seaview, I can see many expats with agents, looking for rental.

    Yeah, expats are moving to D15, East Coast side. Even my landed property next door negihbor rented out to CEO.....he shifted from D11. So, agreed with you, those D9,10,11 are shifting to D15. In short, actually, The Seaview benefited from the shift.....D9,10,11.

    Those shifted to outskirts are on the small budget. Good for everyone, at least those in the outskirts also got expats. Wonderful!

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •