Meaning no meaning.Originally Posted by What?
Meaning no meaning.
Agree.
Not sure why many people keep giving wrong information.
Many keep saying US is in recession when in actual it has growth.
Newbie
Great depression or not.. the economy isnt doing well and that's enough crap for everyone here
You can't expect the economy to always perform +5% what.
Sometime +1%, sometime +4%, sometime +2%, is acceptable.
Main thing is not to get into a -x% situation. -x% means recession. Recession is no joke.
This is like getting a salary of sometime $11,000 pm, sometime $14,000 pm, sometime $12,000 pm.
Main thing is not to get into a situation of no income and yet owe somebody $10,000 (i.e. -$10,000).
Newbie
it is a cycle
Luckily we have a technical recession but no recession.
Recession means no growth. No growth means trouble!
Newbie
are u still able to eat three meals a day
now?
did u go around begging for food?
I do not think our unemployment rate will go up significantly this time, even if a recession come.
which industry are you from ?
What's the difference?
Most business forecast for next year is very bad, including finance, property, manufacturing, etc. Everyone is bracing for the down turn... I am curious which industry is not affected.
All kind of cost cutting measures (including retrenchment, pay cut) will happen next year. So which industry is he from that expect less job cut than last time.
You mean reduce foreiger headcounts will increase unemployment rate?
You mean nobody will take up IR jobs?
If u mean a executive level taking up security job at IR is not a issue. Yes, we have plenty of job created. and we have solved job loss issue.
If u mean a hotel cleaner can pay the same kind of bills for private property like a executive level, then you are right. the property will not crash.
If u mean cutting foreign headcount will reduce unemployment rate, then yes, we will be doing alright next year.
BTW, how old are you ?
Er.. Downturn ? Thought dec gonna be another round of hefty pay increases for the garment ? Have faith.. this recession will blow over soon as they have more incentives to think better after the increases. Life is tough...
Thus we really need more talent people to help us get out of this shithole.
By the way, are you getting retrenched soon?
Telecom. So?
Newbie
to me all east coast condo
good.......
Agent Joe
haha....kena flame
I knew it, there will be comment like this one...
how old are you ? btw ..
Obvious that you sounds like outsider on the term used.
Newbie
i heard got one owner staying in seaview
driving a posh ferrari
Not surprise.. I have seen RR in Kembangan Terrace. Lamborghini in Terrace house, also in Kembangan. BTW, Seaview is quite a upclass condo.
... why avoid his question ?? just answer him la ...
YES or NO will only draw more unnecessary comments. i think anyone who is unemployed, probably have other recuitment website to spend his time, then killing time here.
Yah!
Don't be too happy!
Everyone is a loser
Only IRAS is the big winner who is smiling now!
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 $54,556.
Newbie
wow one million good money
Newbie
New caveat that was just released....upto 17 Oct 08
Unit_____SQFT___psf,$____Total______Contract date
12-0X___ 1216___ 1283___ $1,560,000__ 16Oct08
02-0X___ 1410___ 1040___ $1,466,400__ 03Oct08
17-2X___ 1518___ 1100___ $1,669,800__ 29Sep08
08-0X___ 1216___ 1330___ $1,617,280__ 19Sep08
15-0X___ 1647___ 1366___ $2,250,000__ 21Aug08
06-0X___ 527____ 1505___ $793,000____ 20Aug08
18-0X___ 1216___ 1350___ $1,641,600__ 14Aug08
09-1X___ 1647___ 1450___ $2,388,150__ 08Aug08
02-0X___ 1518___ 1028___ $1,580,000__ 04Aug08
21-0X___ 1410___ 1348___ $1,900,000__ 01Aug08
20-2X___ 1647___ 1166___ $1,920,000__ 23Jul08
05-1X___ 1410___ 1410___ $1,480,000__ 16 Jul08
03-11___ 1410___ 1277___ $1,800,000__ 18Jul08
03-22___ 1410___ 1550___ $2,185,500__ 17Jul08
05-15___ 1410___ 1050___ $1,480,000__ 7Jul08
14-08___ 1216___ 1260___ $1,532,160__ 30Jun08
20-20___ 560____ 1289___ $716,800____ 26 Jun08
03-15___ 1410___ 1028___ $1,450,000__ 17Jun08
09-14___ 1647___ 1450___ $2,388,150__ 13Jun08
12-21___ 1216___ 1065___ $1,295,040__ 12Jun08
08-15___ 1410___ 1100___ $1,551,000__ 10Jun08
Junior
Will SeaView go below $1000 psf ?
Have to watch and see I guess. Are there potential buyer offering any units and testing $900 psf? or are there desparate seller wanting to let go at good price ?
there are several adv quoted $1000 psf for Sea View this weekend. the market is really really quite now!
Junior
Right... Its a time where buyer waiting for it to go down further, and buyer praying it will soon go back up. Looks like its better to wait abit longer, hold back buying plans for a while and see how things turns out to be.
Posting Permissions
Reply With Quote.gif)
