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Thread: Property market sentiments 2010

  1. #181
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    Quote Originally Posted by SAMSON, Next Insight, 1 February 2010 4.07 pm
    Genting casino will be open this weeks. They just got the casino License.

    The Genting casino VIP Room will be opening on this weekends (4, 5 or 6 February 2010).
    Is this kidding or for real?

  2. #182
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    Quote Originally Posted by Reporter
    Is this kidding or for real?
    so good.. how to get into VIP room?

    I emailed them about the Premium player status coz maybe can use the rewards points to redeem food vouchers and hotel stay without spending a dime. They told me wait my turn ..... and stay tune to their newsletter...

    Think only property_owner can enlightened us ..

  3. #183
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    Quote Originally Posted by focus
    so good.. how to get into VIP room?

    I emailed them about the Premium player status coz maybe can use the rewards points to redeem food vouchers and hotel stay without spending a dime. They told me wait my turn ..... and stay tune to their newsletter...

    Think only property_owner can enlightened us ..
    Have you bought your landed property yet?

    Quickly buy it!

    Otherwise your $6.8 million cash's going to disappear into the casino VIP room.

    That's another advantage of buying a property. It prevents your money from being sucked up by these casinos.

  4. #184
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    Quote Originally Posted by jlrx
    Have you bought your landed property yet?

    Quickly buy it!

    Otherwise your $6.8 million cash's going to disappear into the casino VIP room.

    That's another advantage of buying a property. It prevents your money from being sucked up by these casinos.
    Haha.. i hope I won't be that dumb to do that... (the casino I mean)..

    But i'm already playing the largest casino in the world.. stock market.. very exciting! :P

  5. #185
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    Top selling private properties in January
    AsiaOne
    Thursday, 4 February 2010


    For the month of January, Far East Organization is believed to have been the top seller, with sales of close to 300 units. Its bestseller was The Shore Residences, a 103-year-old condominium project on the former Rose Garden site in Katong. Far East is understood to have sold over 140 units in the project last month. - Photo: FEO

    For the month of January, Far East Organization (FEO) is believed to have been the top seller, with sales of close to 300 units.

    CB Richard Ellis executive director (residential) Joseph Tan says: 'Generally, buyers are showing more interest and there's acceptance that prices have bottomed out with a strong likelihood of growth. Developers in their pricing policy should also leave room for capital appreciation for investors.'


    City Developments sold 243 units in January, the bulk of which were in Cube 8 at Thomson Road (167 units). -- Photo: CDL


    City Developments sold the rest in Livia in Pasir Ris (59 units). -- Photo: CDL


    Fellow property giant CapitaLand also did brisk sales. Its 165-unit Urban Suites condo in the Cairnhill area is said to be left with fewer than 30 units. -- Photo: CapitaLand


    Frasers Centrepoint sold a total 102 units last month, including 43 units at its Residences Botanique in the Yio Chu Kang/Sirat roads area. -- Photo: Frasers Centrepoint


    Allgreen Properties is also believed to have sold a total 62 units from its preview of Holland Residences last week. The average price is $1,625 psf. -- Photo: CBRE

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    Property marketProsperous = Casino Prosperous = Electrion Soon

    Property Market Fall = Casino Effected = Economy Effected = Government Effected.

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    Quote Originally Posted by focus
    so good.. how to get into VIP room?

    I emailed them about the Premium player status coz maybe can use the rewards points to redeem food vouchers and hotel stay without spending a dime. They told me wait my turn ..... and stay tune to their newsletter...

    Think only property_owner can enlightened us ..
    They had invited me already. I'm still thinking.

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    Quote Originally Posted by Regulators
    i wonder how those that have been ripped off by FEO all these would feel about Mr Ng's demise

    willing seller willing buyer, cannot say rip off lah LOL

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    The feeling of getting ripped off usually comes after the sale.

    Quote Originally Posted by august
    willing seller willing buyer, cannot say rip off lah LOL

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    Quote Originally Posted by Property_Owner
    They had invited me already. I'm still thinking.
    I knew it! Maybe can long-pang a few of us into the VIP room for us to experience the feeling of being a VIP

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    Quote Originally Posted by focus
    I knew it! Maybe can long-pang a few of us into the VIP room for us to experience the feeling of being a VIP

    First of all wifey got to give the green light. I got into trouble with her after blowing a R8 2 years back @ Skycity.

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    Quote Originally Posted by Property_Owner
    First of all wifey got to give the green light. I got into trouble with her after blowing a R8 2 years back @ Skycity.
    hehe.. but if your passive income is > than a R8.. what is the problem

    Anyway, it's a happy problem to be getting into.. blowing an R8 and only the wife nags... It shows your moola is strong..

  13. #193
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    Quote Originally Posted by Property_Owner
    Quote Originally Posted by focus
    so good.. how to get into VIP room?

    I emailed them about the Premium player status coz maybe can use the rewards points to redeem food vouchers and hotel stay without spending a dime. They told me wait my turn ..... and stay tune to their newsletter...

    Think only property_owner can enlightened us ..
    They had invited me already. I'm still thinking.
    Better decline! Your 40+ properties are in danger!

    Quote Originally Posted by focus
    Quote Originally Posted by Property_Owner
    Quote Originally Posted by focus
    I knew it! Maybe can long-pang a few of us into the VIP room for us to experience the feeling of being a VIP
    First of all wifey got to give the green light. I got into trouble with her after blowing a R8 2 years back @ Skycity.
    hehe.. but if your passive income is > than a R8.. what is the problem

    Anyway, it's a happy problem to be getting into.. blowing an R8 and only the wife nags... It shows your moola is strong..
    What "passive income"?

    Property_Owner, although old, is still running his business and thinking of selling toothpaste to China market.

    Unlike you, only 36, already retired after making so much money.

  14. #194
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    Quote Originally Posted by Regulators
    Quote Originally Posted by august
    Quote Originally Posted by Regulators
    i wonder how those that have been ripped off by FEO all these would feel about Mr Ng's demise
    willing seller willing buyer, cannot say rip off lah LOL
    The feeling of getting ripped off usually comes after the sale.
    I'm quite sure the 72 buyers of terrace houses at Jalan Pacheli below won't feel "ripped off".

    Quote Originally Posted by jlrx
    Talking about our beloved property developers who have given us so much money over the past few decades, let's pay tribute to Mr. Ng who developed 72 terrace houses at Jalan Pacheli in 1962.



    Business Times - 03 Feb 2010

    OBITUARY: NG TENG FONG

    Mr Ng's first property project back in 1962 was a 72-unit terrace housing development at Jalan Pachelli in the Serangoon Gardens area.

    The Straits Times - 3 Feb 2010

    By 1962, he had saved enough money to develop a small housing estate behind Serangoon Gardens - 72 single-storey terrace houses which he sold at $20,000 apiece.

    9 May 2007
    25B Jalan Pacheli transacted $1,920,000 apiece.

    Each household had benefited $1,900,000 apiece.

    (By the way, the total he collected from the 72 terrace houses at $20,000 apiece was only $1,440,000, which was even less the price of one terrace house today).

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    Sengkang site draws top bid of 365psf from CDL!!!

    This is even higher than the MCL Land's Yishun site of 350psf with just a lousy LRT station and view of Sungai Punggol
    Last edited by jitkiat; 04-02-10 at 16:56.

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    Quote Originally Posted by jitkiat
    Sengkang site draws top bid of 365psf from CDL!!!

    This is even higher than the MCL Land's Yishun site of 350psf with just a lousy LRT station and view of Sungai Punggol
    The Predictions

    Ngee Ann Polytechnic real estate lecturer Nicholas Mak expects three to seven bids for the site, and reckons that the top few bids will be in the region of $260-$300 psf per plot ratio.

    Peter Ow, Knight Frank’s executive director for residential, is more bullish – he expects the winning bid to be in the region of $370-$420 psf per plot ratio. He also feels that the site will receive ‘more than a few’ bids.

    The Facts

    Business Times - 04 Feb 2010

    Update: CDL tops tender for Sengkang private condo plot with bid of $365.26 psf ppr

    By KALPANA RASHIWALA

    A subsidiary of City Developments has placed the top bid at a state tender for a 99-year leasehold private condominium site at Sengkang West Avenue/Fernvale Link.

    The top bid is $200.5 million or $365.26 per square foot of potential gross floor area. The tender drew a total 10 bids.

    The Conclusion

    The final bid does not lie within the range of any prediction.

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    Record 6.2M visited Sentosa in 2009
    The Straits Times
    Thursday, 4 February 2010, 5.12 pm


    Popular events like ZoukOut and the Siloso Beach Party registered bigger turnouts and school holidays saw more guests turning up. -- Photo: Samuel He, ST

    Despite the economic downturn, the resort-island of Sentosa drew a record number of 6.2 million visitors last year, pushing the annual guest arrivals up by 50% from 2003.

    December was also its best month, with 652,000 visitors into the island, which Sentosa Development Corporation (SDC) attributed to 'the return of positive sentiment to Singapore's tourism industry and the recovery of the global economy.'

    The number of domestic and international tourists to the island for December grew 4% and 7% respectively, from the previous year. Popular events like ZoukOut and the Siloso Beach Party registered bigger turnouts and school holidays saw more guests turning up.

    SDC chief executive officer Mike Barclay said on Thursday: 'We are very pleased that we ended the year on a positive note and head steady during the challenging months of the downturn.'

    He expects visitors to the island to more than double this year, with the opening of Resorts World at Sentosa (RWS).

    With the addition of RWS, Sentosa will be home to more than 240 attractions, restaurants, beach bars, hotels, spas and retail outlets.

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    Quote Originally Posted by Reporter, The Quartz, 4 February 2010 11.49 pm
    Wow!
    Going-7-year-old Compass Heights has a nëw hïgh of $899 psf!
    Unbelievable!


    Compass Heights
    Address ............................. psf ............. Area ........ Price .......... Contract Date
    9 Sengkang Square #11-02 ..... $899 psf ..... 667 sqft .... $600,000 ..... 9 Jan 10
    No wonder CDL's Sunmaster dare to go for a breakeven of around $750 psf for the new Sengkang land parcel.

    If going-7-year-old Compass Heights in District-19 Sengkang can hit nëw hïgh of $899 psf, why should CDL not able to hit high of $1,199 psf with the new Sengkang site?

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    Quote Originally Posted by Reporter, Shanghai One, 5 February 2010 12.48 am
    Congrats to all here in this thread who are keen in Shanghai One. Your patience has paid off. Your development has just hit a hïgh of $1,257 psf!


    Shanghai One
    Address ......................... psf .............. Area ......... Price ............ Contract Date
    1 Shanghai Road #05-01 .... $1,257 psf ... 1,066 psf .... $,1340,000 .... 14 Jan 10
    1 Shanghai Road #05-03 .... $1,210 psf ....... 883 psf .... $1,068,000 ..... 4 Dec 09
    Shanghai One in District 10 has hit a hïgh of $1,257 psf!

    Someone claimed he can buy around $1,000 psf. He must be another lucky guy smiling to the bank now!

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    You should take a shot of the stretch of petrochemical plants in Pasir Gudang with the thick smoke spewing over to Singapore...

    Quote Originally Posted by jitkiat


    Sengkang site draws top bid of 365psf from CDL!!!

    This is even higher than the MCL Land's Yishun site of 350psf with just a lousy LRT station and view of Sungai Punggol

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    Quote Originally Posted by jitkiat


    Sengkang site draws top bid of 365psf from CDL!!!

    This is even higher than the MCL Land's Yishun site of 350psf with just a lousy LRT station and view of Sungai Punggol
    I thought you were joking that the LRT station in the above picture is "Lao Yar" (i.e. lousy).

    But I checked the map, there is actually a Layar LRT station.

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    No U-turn in foreigner policy: SM Goh
    Jeremy Au Yong
    Political Correspondent
    The Straits Times
    Manama, Bahrain
    Friday, 5 February 2010

    The Government's recent moves to slow the influx of foreigners do not mark a 'sudden turnaround' in policy, said Senior Minister Goh Chok Tong yesterday.

    Rather, it is simply a recognition that the country is nearing what it can accommodate. While foreign worker numbers may still rise, it will now grow more slowly.

    Speaking to Singapore reporters in Bahrain at the end of a six-day visit to the Middle East, SM Goh explained that Singapore needed to be open to foreign workers in the past to fuel its rapid growth.

    'If you look at the last decade, we wanted to grow fast. And there were opportunities to grow fast. Employers were crying for workers. We were trying to tighten the dependency on foreign workers, but the demand for goods and services from Singapore was high, so we liberalised. Then once we reach the limit, you've got to tighten,' he said.

    The Government, he said, constantly monitors its policies and tweaks them where needed.

    'Past models which have worked may not work in the future, so we've got to constantly monitor, adjust when necessary, sometimes even discard. But in our case it's modifying the model, not discarding the old model,' he said.

    SM Goh also made it a point to stress that striking the right balance was just one aspect of the foreign-local issue. Permanent residents were another major part.

    He said the Government was reviewing the PR scheme to try and make sure foreigners do not exploit it: 'If you want to come to Singapore, decide to be a PR, the logical conclusion must be Singapore citizenship. Do your fair share contributing as Singapore citizens.'

    The balance between foreigners and locals in Singapore has been a key focus of the Government in recent years, and this week's Economic Strategies Committee (ESC) report also addresses the issue.

    For instance, it suggests increasing productivity to reduce the dependence on foreign labour.

    Speaking about the report, SM Goh noted that increasing productivity had been a focus as far back as 1978, when it prescribed high wages for locals as a way to boost productivity.

    This time around - though the aim is largely the same - there is an additional weapon: the foreign worker levy.

    'Unlike 1978 when we raised wages of our local population by a very high margin, this time you can calibrate the increase in prices through the foreign worker levy,' he said.

    This was not a case of going out just to cut foreign worker numbers, but rather to 'price them more correctly'.

    Said SM Goh: 'When you price the foreign levy at a more correct rate, then the market will decide what industries can still be in Singapore paying this price of levy.'

    However, he said it would be a challenge doing this at the right pace, without putting off too many: 'If you overdo it, at too fast a pace, for example, and too many companies cannot cope with the higher cost of production, you may end up with a mild recession. If you are not careful at all, you can end up with a deep recession.'

    Fortunately, he said, Singapore can draw from past lessons: 'We have the advantage of the 1978 experience in using prices to raise productivity and of course the advantage of knowing how far you can go and how fast you can go.'

    To the Senior Minister, both 1978 and 2010 will mark 'turning points' in Singapore's economy. In fact, he described this year as a turning point for many countries, as they have to work out their next move after the financial crisis.

    SM Goh concluded his visit to Oman and Bahrain yesterday, a trip which helped to deepen bilateral ties with both nations.

    He said that as Senior Minister, he saw his role as trying to help Singapore expand its economic and political space.

    Since stepping down as prime minister in 2004, SM Goh has been at the heart of Singapore's push into the Middle East. The country now has substantial business ties with many countries in the region, and has signed a free trade agreement with the six-nation grouping known as the Gulf Cooperation Council.

    Mr Goh arrives back in Singapore today.

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    “今年上半年由政府发售的第一幅私宅地段,获得市场良好反应,显示发展商对大众化私宅市场(mass market)依然有信心,并继续寻找填补土地库存的机会。”

    郑惠匀
    ... 研究与咨询部主管
    ... 高力国际

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    Chuan Park condo hits a high of $800 psf
    The Edge
    Friday, 25 January 2010


    Chuan Park

    A Singaporean who only wants to be known as Mr Tan put his 3-bedroom, 1,528 sqft unit at Chuan Park condominium on Lorong Chuan for sale a month ago. Within a day, he found a buyer who was willing to pay his asking price of $980,000, or $641 psf.

    “We sold because the price reached our expectations,” he says in a phone interview. “The property may be old, but it is well-maintained. Rental demand is healthy, given the proximity to good schools and the Australian International School. There is potential for en-bloc sale and the location is wonderful — right next door to the MRT station.”

    For the period from Jan 4 to 8, there were three transactions at the 452-unit Chuan Park, at prices from $690 to $800 psf. On Jan 5, a 710 sqft studio apartment on the 2nd floor was sold for $568,000, or $800 psf. The owner had purchased it for $450,000 in 2007, thus enjoying a 26% price appreciation in just 2 years.

    Another studio apartment on the 4th floor went for $520,000, or $732 psf. The owner had purchased it for $458,000, or $645 psf, in 1995. This represents a gain of 13.5%. The previous owner had bought it for $395,000 in the same year, thus enjoying a gain of 16%.

    Excitement is mounting in the Serangoon Gardens Estate in the vicinity of Lorong Chuan and Serangoon Avenue 3 as the Circle Line nears completion and another 11 new MRT stations from Tai Seng to Dhoby Ghaut open in April. The Lorong Chuan MRT station opened last May.

    Good schools like Nanyang Junior College and St Gabriel’s Primary School as well as the Australian International School have also attracted families with schoolgoing children and investors to Chuan Park. The condo is a short distance from the New Tech Park and one stop away from the Serangoon MRT station, where a new mall called nex is coming up.

    What’s also fuelling optimism among investors and owners of existing condos looking to sell is Hong Leong Holdings’ 400-unit condo that is expected to be launched in the coming months. Hong Leong was awarded the 99-year leasehold site on Serangoon Avenue 3 last October with a top bid of $221 million, or $529 psf of gross floor area, which was 164% above the reserve price. Property consultants have estimated that the breakeven price for the project is likely to be $900 to $950 psf. They expect the new condo to be priced above $1,000 psf.

    Fred Teo, a property agent at Knight Frank, says these 2 factors are the main reasons driving increased demand at Chuan Park. He notes that prices in the 26-year-old, 99-year leasehold condo have risen from around $500 psf last April to $700 psf in recent months. The launch of the new project by Hong Leong would probably lift prices higher, says Teo.

    Opposite Chuan Park are two 99-year leasehold condos: 372-unit, 11-year-old The Springbloom and 500-unit 15-year-old Chiltern Park. Prices in those two projects have also been creeping up. On Jan 6, an 893 sqft unit at The Springbloom was sold for $650,000, or $728 psf.

    At Chiltern Park, a 915 sqft unit was sold for $660,000, or $721 psf, according to a caveat lodged with URA Realis on Jan 6. At the Jones Lang LaSalle property auction on Jan 20, a second-floor, 1,518 sqft apartment at Chiltern Park was put up for mortgagee sale with an opening price of $980,000. A few parties bid for the property, which was sold for $1.015 million, or $669 psf.

    With the Circle Line nearing completion and Hong Leong’s new condo launch in the offing, it looks like interest in condos in the Lorong Chuan and Serangoon Avenue 3 neighbourhood will intensify in the coming months.

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    Quote Originally Posted by mcmlxxvi, The Axis, 7 February 2010 10.54 am
    New high for The Axis. D11/12 fringe all the rage now.

    Address Tenure PSF Area Sqft Price Contract Date
    47 Mandalay Road #11-04 Freehold $1343 398 $535k 11 Jan 10
    Wah!
    Even The Axis can hit a nëw hïgh of $1,343 psf!

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    Quote Originally Posted by Reporter

    Chuan Park condo hits a high of $800 psf
    The Edge
    Friday, 25 January 2010
    Quote Originally Posted by Reporter
    Wah!
    Even The Axis can hit a nëw hïgh of $1,343 psf!
    All these prices hitting new highs are illusions.

    It's simply the effect of paper money hitting new lows.

    “The modern banking process manufactures currency out of nothing.”.
    - Lord Josiah Stemp, Former Director of the Bank of England (1937)


    “At the end fiat money returns to its inner value—zero.”
    - Voltaire (21 November 1694 – 30 May 1778)

    Propertism Rule No. 1 - Properties should only be bought. Not sold.

    Can you imagine? This is a period when the world economy is sick. The US is mired in recession. European nations are going burst one by one.

    Yet all these properties are "hitting new highs".

    Ladies and Gentlemen, can you now take a deep breath and imagine what will happen if one day you see this news headline?


    US Economy Overheating
    Real Estate hit New Highs for 13th Consecutive Year
    FED Raised Funds Rate to 24.5% to temper runaway inflation


    You are going to see these ads:

    D9. SIX LUXURIOUS CONDOS
    2,000 sq ft to 4,000 sq ft.
    Claymore/ Cairnhill/ River Valley.
    Asking $300M to $500M
    per unit neg. Call Reporter.


    THE SAIL@ MARINA BAY
    3 bedrooms, 1184 sq ft.
    Asking $296M neg.
    Call gfoo


    40+ PROPERTIES
    for sale by retiring
    Property_Owner.
    Lump sum $12 B.
    Not negotiable.
    Call Property_Owner


    SPREADSHEET OF PROPERTIES.
    Only the spreadsheet for sale.
    Not the properties. Call jlrx.
    Last edited by jlrx; 08-02-10 at 01:00.

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    Just like your last asking in Marine Terrace, some people are a little unhappy with your new asking in Telok Blangah Heights which is $9k more leh.
    Quote Originally Posted by Temasek Review
    Another old 5-room resale HDB flat in Telok Blangah asking for nearly S$1M
    Correspondent
    Temasek Review
    Monday, 8 February 2010

    Three days ago, we put up an advertisement of a 5-room HDB flat in Marine Parade selling for an eye-popping S$990,000.

    Now we have another 5-room flat in Telok Blangah asking for S$999,000, $9,000 more than the earlier flat:


    From the photos above, the flat appears to be situated in an older part of Telok Blangah and is at least 30 years old which means that it has at most 60 – 70 years left on its lease since all HDB flats are 99-year old properties.

    The exorbitant prices asked by some property agents is a sign that the red-hot public housing market has got completely out of control.

    The prices of resale flats increased by 8.2 per cent in 2009 when Singapore was mired in recession with Cash-Over-Valuation (COVs) doubling from $12,000 to $24,000 in the last three months:


    The sky-rocketing prices are fueled largely by limited number of flats built between the years 2006 – 2008 coupled with the large influx of foreigners into Singapore during the same period of time.

    Only 3,183 new flats were built in 2008 when there were over 90,000 PRs and 20,000 new citizens in the same year:


    ..........
    ..........

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    These people asking 990k for their old flats are wasting their time advertising. the million dollar flats will only be seen in Pinnacle and Dawson Estate

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    'Only 3,183 new flats were built in 2008 when there were over 90,000 PRs and 20,000 new citizens in the same year'

    and 2010 will be the year where 30,000 new flats will be built and the number of PRs and new citizens plunging with more stringent rules in place.

    HDB prices by 2012 will plunge based on dd/ss, and without that base mass market will follow suit. one can only hope that the rest of the property market won't follow suit but i doubt it.

    Then the cries in the papers and ST Forum won't be how expensive property is, but to help citizens find gainful employment, and to provide handouts older folks.

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