View Full Version : Property price is definitely coming down NOW as reported
AsiaOne
Private-property prices fall sharply in core area
This suggests that some home buyers became more cautious after the
additional buyer's stamp duty took effect in December.
Thu, Feb 09, 2012
my paper
By Reico Wong
THE property cooling measures introduced late last year have started to show
a significant impact on the housing market.
Prices of private apartments and condominiums have dropped by as much as
10.2 per cent in the Core Central Region since the fourth quarter,
suggesting that home buyers became more cautious after the additional
buyer's stamp duty took effect in December.
The average selling price of such units has fallen to $1,600 per sq ft (psf)
from $1,781 psf in the fourth quarter, according to data released yesterday
by the Singapore Real Estate Exchange (SRX).
The rental prices of apartments and condominiums have also been affected,
with those of properties in the non-central areas hit the hardest.
The rental rates of units outside the central region have fallen 2.3 per
cent since the fourth quarter, from $2.99 psf to $2.92 psf.
However, rents for apartments and condominiums in the Core Central Region
are still climbing. They have risen 1.3 per cent since the fourth quarter,
from $4.68 psf to $4.74 psf.
This is likely to be just the start of a downtrend, the heads of property
agencies said yesterday at a housing forum organised by SRX. They added,
however, that a price crash is unlikely.
Private-property prices are expected to drop between 10 and 15 per cent this
year, said Dennis Wee Group, HSR Property Group, PropNex, DTZ, ERA Realty
and C&H Properties.
Prices of Housing Board resale flats are likely to ease between 3 and 5 per
cent this year, but could also fall by as much as 10 per cent if the
euro-zone debt crisis worsens, the companies said.
Mr Albert Lu, chief executive of C&H, said population growth - especially
that of permanent residents and new citizens - is slowing, leading to a fall
in housing demand.
He added that HDB prices have doubled over the past six years and are
unlikely to climb steeply soon, given the large number of Build-To-Order
(BTO) flats being pumped into the market.
He said the attractive prices of BTOs would draw buyers from the resale
market following remarks by National Development Minister Khaw Boon Wan that
he is looking into letting second- timers buy BTO flats.
When second-timers buy BTO flats, they will have to sell their flats, which
would further "dampen demand", said Mr Lu.
PropNex CEO Mohamed Ismail said buyers now enjoy more choice, with some
5,000 executive-condominium (EC) units slated for construction this year and
"a continued supply of government land sales".
There will be "supply, supply and more supply, be it of HDB flats, EC units
or mass-market properties", he said.
"I would not be surprised if public- housing prices remain the same, five
years from now," he said, adding that they might be only about 10 per cent
higher at most.
Purchases of private property by foreigners reached historic highs last
year, hitting 31 per cent, a two-fold increase from 10 years ago, according
to another report released yesterday by Savills.
Mainland Chinese were the top buyers, making up 28 per cent of all purchases
by foreigners, with Indonesians accounting for just 18 per cent of all
foreign purchases.
Mr Lee Sze Teck, senior manager of research and consultancy at Dennis Wee,
said: "Singapore is still one of the best cities in Asia to put your money.
If prices drop about 10 per cent and conditions are favourable, buyers will
definitely come back."
reicow@... (http://finance.dir.groups.yahoo.com/group/RealEdge/post?postID=3e1n9EIPf29vtUeDSurjCM3BBr5716gBJ6OEnZmnr_wKa9WP8mZZ9_Dw11XX5ij55yQCJjvoQ4-8pQoT)
ikan bilis
09-02-12, 09:03
AsiaOne
Private-property prices fall sharply in core area
The average selling price of such units has fallen to $1,600 per sq ft (psf)
from $1,781 psf in the fourth quarter, according to data released yesterday
by the Singapore Real Estate Exchange (SRX).
haha... watertown already hit 1600psf ??... ocr cheong arh !!.... :gun4:
ocr average resale px around 800psf ?... good opportunity to reshuffle your assets holdings… sell ocr and switch to ccr now !!…. ;)
haha... watertown already hit 1600psf ??... ocr cheong arh !!.... :gun4:
ocr average resale px around 800psf ?... good opportunity to reshuffle your assets holdings… sell ocr and switch to ccr now !!…. ;)
Not yet... Ocr rental is still good. Always focus on rental.
These are not paper assets....with the ABSD, you can't anyhow sell/buy to switch between CCR/OCR/RCR.
stalingrad
09-02-12, 09:48
Oh, I am really sorry for the CCR owners. my heart goes out to you. :D
stalingrad hope your dream of duchess residences will become true one day : :D
DUCHESS RESIDENCES DUCHESS AVENUE Condominium 1 3,250,000 1,615 Strata 2,013 Jan-12
ikan bilis
09-02-12, 09:59
heya... you guys don;t be happy too early... anal-yst got nothing to write now so die die dig that ccr depressed price and talk-kok... they need to write something for living hor...
once this europe crisis over... ccr will shoot to sky high !!...
too bad... mine all junk assets outside central region... :beats-me-man:
Prices of private apartments and condominiums have dropped by as much as
10.2 per cent in the Core Central Region since the fourth quarter
I'm curious on this number. which project has dropped 10% ?
stalingrad
09-02-12, 10:05
stalingrad hope your dream of duchess residences will become true one day : :D
DUCHESS RESIDENCES DUCHESS AVENUE Condominium 1 3,250,000 1,615 Strata 2,013 Jan-12
one swallow does not a spring make, especially if the swallow is deranged. :D
No No, I am no interested in DR. I am interested in laughing at the people who bought it after all the troubles. :D:D
one swallow does not a spring make, especially if the swallow is deranged. :D
No No, I am no interested in DR. I am interested in laughing at the people who bought it after all the troubles. :D:D
how about CAPL at $2.95 today ? ;)
stalingrad
09-02-12, 10:09
how about CAPL at $2.95 today ? ;)
I bought capl at $2.39. so I am happy about this turn of event. :D:D:D
I also bought K'land at $2.73. :D:D:D:D
I bought capl at $2.39. so I am happy about this turn of event. :D:D:D
I also bought K'land at $2.73. :D:D:D:D
hey u 2 face %^&* :D I thought u detest CAPL's business model and say it's only worth $2 ??? I was the one who always look CAPL very up and told you it's a screaming buy ? ;)
stalingrad
09-02-12, 10:14
hey u 2 face %^&* :D I thought u detest CAPL's business model and say it's only worth $2 ??? I was the one who always look CAPL very up and told you it's a screaming buy ? ;)
yes, I detested it. but everything, however bad it is, has a fair price. I thought the market was wrong when the price dropped to $2.39.
I also detest CCR properities, but when the prices drop 30%, I would become an owner.
Vivek Sharma, like many Indians who came to Singapore (http://topics.bloomberg.com/singapore/) for work, failed to jump into the island state’s booming property market before the government imposed taxes to deter foreign buyers.
Now, he is joining thousands of his compatriots who are taking advantage of the drop in the rupee to a record low in December and seeking to buy property back home -- for rental investments, homes for left-behind family members, retirement properties and residences for their own eventual returns.
I also detest CCR properities
u dun detest CCR properties lah. deep in your heart you want one. you just dun want to pay for it. it's like Hifi. for every additional 1% fidelity, you need to pay additional 100%. so ppl say "nah I'm not paying this much for this amp unless it's $## only" ;)
speaking of which, I was honestly quite surprised just now when I dig that DR record. I was actually expecting a correction/stagnant in price (naturally). what I found is an increase of almost 10%, for a transaction in Jan 12 ! I'm very curious on the buyer profile.
Oh, I am really sorry for the CCR owners. my heart goes out to you. :D
Thank you for your concern.:)
rental for CCR going up...
So, I'm happy:D
stalingrad
09-02-12, 10:24
u dun detest CCR properties lah. deep in your heart you want one. you just dun want to pay for it. it's like Hifi. for every additional 1% fidelity, you need to pay additional 100%. so ppl say "nah I'm not paying this much for this amp unless it's $## only" ;)
speaking of which, I was honestly quite surprised just now when I dig that DR record. I was actually expecting a correction/stagnant in price (naturally). what I found is an increase of almost 10%, for a transaction in Jan 12 ! I'm very curious on the buyer profile.
PRC buyer, pure and simple. got his money illegally or unethically or both, and parked it here to avoid suspicion at home. since the money was not his, he didn't care whether it is spent wisely or not. that pretty much sums up today's market and chinese buying.
I'm curious on this number. which project has dropped 10% ?
Also same curosity. Anyone knows which projects in CCR have fallen 10%?
Most owners are still asking for records prices. Its just that they are few buyers.
I cant find which project drop 10%?
I am looking to load up one more CCR property but cannot find 10%...
Any deals please let me know...
Far and few with CCR units drop by 10%. The units that are sold could be not good facing, low floor, etc in the same development. Good rental and with good capital appreciation.
I cant find which project drop 10%?
I am looking to load up one more CCR property but cannot find 10%...
Any deals please let me know...
stalingrad
09-02-12, 20:13
why keep asking which projects have dropped by 10%? you think the statistics would lie?
you guys are just whistling past the graveyard, trying to pretend you are not scared.
if you don't believe the statistics are right, put you properties up for sale at a 5% discount to the price one year ago, and see if any one will bite. I bet none will bite.
even capl at 2.95 i shout cheap
Why even bother to test the market when there is no need for cash.. Enjoy passive income of more than 6% yield. Bank cannot offer this.
why keep asking which projects have dropped by 10%? you think the statistics would lie?
you guys are just whistling past the graveyard, trying to pretend you are not scared.
if you don't believe the statistics are right, put you properties up for sale at a 5% discount to the price one year ago, and see if any one will bite. I bet none will bite.
stalingrad
09-02-12, 20:23
Why even bother to test the market when there is no need for cash.. Enjoy passive income of more than 6% yield. Bank cannot offer this.
6% yield. are you dreaming? try 2% yield.
I meant rental yield.
6% yield. are you dreaming? try 2% yield.
stalingrad
09-02-12, 20:36
I meant rental yield.
yes, I knew. yes, 2% rental yield at today's CCR prices.
yes, I knew. yes, 2% rental yield at today's CCR prices.
Oh wtf even my yield at CAPL higher than that
why keep asking which projects have dropped by 10%? you think the statistics would lie?
The statistics would not lie, but the interpretation is wrong.
The article said " the average price of the transactions" dropped from #### to ####. this is meaningless. Imagine in dec I have a few transactions of orchard residences at 3000 psf, this month I have a few glentree transactions at 1500 psf. Wow, 50% price drop !! :doh: re-read that article, tell me this is not what it means :cool:
I'll wait for nus index to have a real gauge. Every one expects a drop. I will be surprised to see anything greater than 5%. btw duchess residences is not in the nus list, so its 10% rise in Jan 12 is not counted, u will be safe ;)
blackpepperj
09-02-12, 22:29
The statistics would not lie, but the interpretation is wrong.
The article said " the average price of the transactions" dropped from #### to ####. this is meaningless. Imagine in dec I have a few transactions of orchard residences at 3000 psf, this month I have a few glentree transactions at 1500 psf. Wow, 50% price drop !! :doh: re-read that article, tell me this is not what it means :cool:
I'll wait for nus index to have a real gauge. Every one expects a drop. I will be surprised to see anything greater than 5%. btw duchess residences is not in the nus list, so its 10% rise in Jan 12 is not counted, u will be safe ;)
Well said. No $ and no class to stay at duchess residences.
Jonathan0503
10-02-12, 08:05
The statistics would not lie, but the interpretation is wrong.
The article said " the average price of the transactions" dropped from #### to ####. this is meaningless. Imagine in dec I have a few transactions of orchard residences at 3000 psf, this month I have a few glentree transactions at 1500 psf. Wow, 50% price drop !! :doh: re-read that article, tell me this is not what it means :cool:
I'll wait for nus index to have a real gauge. Every one expects a drop. I will be surprised to see anything greater than 5%. btw duchess residences is not in the nus list, so its 10% rise in Jan 12 is not counted, u will be safe ;)
Yah, we must always read all these articles with a pinch of salt and do some analysis to make a more meaningful interpretation.
The statistics would not lie, but the interpretation is wrong.
The article said " the average price of the transactions" dropped from #### to ####. this is meaningless. Imagine in dec I have a few transactions of orchard residences at 3000 psf, this month I have a few glentree transactions at 1500 psf. Wow, 50% price drop !! :doh: re-read that article, tell me this is not what it means :cool:
I'll wait for nus index to have a real gauge. Every one expects a drop. I will be surprised to see anything greater than 5%. btw duchess residences is not in the nus list, so its 10% rise in Jan 12 is not counted, u will be safe ;)
What ever and whichever report one is looking at:-
If the price drop say by -10% - do you buy now?
or wait for the next report (1 to 3months for a clearer picture) to see if it drop by further say -5%.
then wait again, and again... and again...
In 2008/9 period, seems alot of ppl was doing that (try bottom-fishing but dun know where they are) and in the end - Miss the Boat... ie. too high dun buy etc.
why keep asking which projects have dropped by 10%? you think the statistics would lie?
you guys are just whistling past the graveyard, trying to pretend you are not scared.
if you don't believe the statistics are right, put you properties up for sale at a 5% discount to the price one year ago, and see if any one will bite. I bet none will bite.
Haha he is up to one of his scams again.... Say one thing but act another.... He will quietly buy a CCR property then claim he already bought coz he is smart and clever... Guru.... Lol....
Haha he is up to one of his scams again.... Say one thing but act another.... He will quietly buy a CCR property then claim he already bought coz he is smart and clever... Guru.... Lol....
Yeah, I reckon he likes all things cheap ...
SINGAPORE: Prices of resale private homes dipped by 0.4 percent in January, according to the Singapore Residential Price Index (SRPI) flash estimate published by the Institute of Real Estate Studies at the National University of Singapore.
It is the second straight month of decline, after resale prices fell by 1 percent in December.
The SRPI for January showed that resale prices for private homes in the central area fell 1.9 percent while prices of small units dropped by 1 percent.
Meanwhile, prices of resale units outside the central area climbed 1 percent in January.
Releasing the data, the Institute of Real Estate Studies says the Additional Buyer's Stamp Duty announced by the government on December 7 has had some impact on home prices.
For the next few months, industry players said prices for resale private properties are likely to soften slightly.
They say transaction volume in the secondary market has been slowing since last year.
Donald Han, Special Advisor at HSR Property Group said, "Transactions for resale non-landed private homes fell from 24,000 in 2010 to 16,000 in 2011. Moving into the first quarter of 2012, in terms of transaction volume, the bulk of the activity is likely to be dominated by new units."
According to the Urban Redevelopment Authority, 1,872 units of new homes were sold last month.
The strong sales for January was driven by mass market projects like Watertown, The Hillier and Parc Rosewood.
Mr Han added, "More home buyers are now looking at the primary market, they are drawn by the appeal of newer developments as well as discounts offered by developers for example. People have more confidence in the market in the mid to long term, and they feel that by the time the units are completed, perhaps they could see an appreciation in value."
Despite the slower sales in the resale private property market, analysts say prices will not fall drastically.
Mr Ong Teck Hui, Head of Research and Consultancy at Credo Real Estate said, "I don't think we will see big price cuts if the economic conditions do not deteriorate badly. For the first quarter, we expect overall resale prices for private homes to remain flat or just marginally negative."
- CNA/de
will the following Feb transaction skew the Feb NUS data ? ;)
ARDMORE PARK ARDMORE PARK Condominium 1 10,500,000 2,885 Strata 3,640 Feb-12
ARDMORE PARK ARDMORE PARK Condominium 1 8,000,000 2,885 Strata 2,773 Nov-11
ARDMORE PARK ARDMORE PARK Condominium 1 8,300,000 2,885 Strata 2,877 Nov-11
.. the answer is no.. because Ardmore Park is not in the NUS list ;)
will the following Feb transaction skew the Feb NUS data ? ;)
ARDMORE PARK ARDMORE PARK Condominium 1 10,500,000 2,885 Strata 3,640 Feb-12
ARDMORE PARK ARDMORE PARK Condominium 1 8,000,000 2,885 Strata 2,773 Nov-11
ARDMORE PARK ARDMORE PARK Condominium 1 8,300,000 2,885 Strata 2,877 Nov-11
.. the answer is no.. because Ardmore Park is not in the NUS list ;)
lol its like dow jones industrial average, each district take a few baskets of properties, probably those active constant active transactions.
lol its like dow jones industrial average, each district take a few baskets of properties, probably those active constant active transactions.
Well, u know, for a so called "Singapore Property Index" of prime properties, you dun even have Ardmore Park, Four Seasons in the list ??
ikan bilis
28-02-12, 19:38
Well, u know, for a so called "Singapore Property Index" of prime properties, you dun even have Ardmore Park, Four Seasons in the list ??
too few transactions??... this index suppose to be able to track monthly movement, faster than ura??... :beats-me-man:
too few transactions??... this index suppose to be able to track monthly movement, faster than ura??... :beats-me-man:
according to some forummers here, free URA data is quarterly, but paid URA data is monthly index.
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