View Full Version : KATONG REGENCY 70% SOLD AT AVERAGE $1600psf
Finally you can see Geylang Serai condo selling for $1600psf..and mind u, this condo is located at the Geylang Serai area which will be bustling, crowded and noisy during the 30-days fasting month of Ramadan.
This location is not really ideal for living. A smelly wet market is just like 50 metres away, and opposite is the run-down City Plaza complex. As an agent myself, I find it hard to believe that there are still people willing to commit big money to such location.
As a responsible agent, I would not recommend any buyers to consider this judging by the steep psf prices. There are so many other better nicer choices like Fulcrum (near prime Tanjong Rhu area) which is launching today with a psf price expected from $1500-2300, or Meyer Rise which is located at the prime freehold district of Meyer Road and still have 100 over units left for sale. These 2 developments have nicer architecture and facilities and their design themes are far and above Katong Regency design/layout concepts.
Guess if the property market corrects by 10-15%, this kind of development will see the most correction in price.
I guess those who bought have not done a proper homework. They have been consumed by the tall words of some agents who over marketed the Paya Lebar HUB which is still years away. A home must always be a home and not a busy place to live. Some agents say good rental...but show me the $$$...the HUB is still not ready yet and not everyone wants to be living so close to their working place. And with that kind of $1.5-2.5 million price for 2 and 3 bedroom, can the tenants who work at the HUB afford to pay sky high rentals from $5-8k ??? If the buyers want to capture good quality tenants, most of these tenants work closer to city or prime districts and not near Geylang Serai unfortunately. Even in D15, this location is not even close in 'quality of living' rating compared to Meyer, Amber, Tanjong Rhu or Marine Parade.
This is a fact but many less experienced investors fail to realise.
Finally you can see Geylang Serai condo selling for $1600psf..and mind u, this condo is located at the Geylang Serai area which will be bustling, crowded and noisy during the 30-days fasting month of Ramadan.
This location is not really ideal for living. A smelly wet market is just like 50 metres away, and opposite is the run-down City Plaza complex. As an agent myself, I find it hard to believe that there are still people willing to commit big money to such location.
As a responsible agent, I would not recommend any buyers to consider this judging by the steep psf prices. There are so many other better nicer choices like Fulcrum (near prime Tanjong Rhu area) which is launching today with a psf price expected from $1500-2300, or Meyer Rise which is located at the prime freehold district of Meyer Road and still have 100 over units left for sale. These 2 developments have nicer architecture and facilities and their design themes are far and above Katong Regency design/layout concepts.
Guess if the property market corrects by 10-15%, this kind of development will see the most correction in price.
I guess those who bought have not done a proper homework. They have been consumed by the tall words of some agents who over marketed the Paya Lebar HUB which is still years away. A home must always be a home and not a busy place to live. Some agents say good rental...but show me the $$$...the HUB is still not ready yet and not everyone wants to be living so close to their working place. And with that kind of $1.5-2.5 million price for 2 and 3 bedroom, can the tenants who work at the HUB afford to pay sky high rentals from $5-8k ??? If the buyers want to capture good quality tenants, most of these tenants work closer to city or prime districts and not near Geylang Serai unfortunately. Even in D15, this location is not even close in 'quality of living' rating compared to Meyer, Amber, Tanjong Rhu or Marine Parade.
This is a fact but many less experienced investors fail to realise.
You must be a terrible agent :( poor sales all these months?
You must be a terrible agent :( poor sales all these months?
Why u bother to reply him. He talks down other projects as smelly in order to make his vested one look good... Even a 3yo can tell his intention.
I am not sure what Shawn's interest was, I do however, agree with him that KR as compare with other parts of D15 is not ideal for comfort residential living. For much lower price, one could buy Butterworth 8 or Haig Court. One could also buy condo at Amber area (200m from KR) for less and probably for the same price around Meyer area.
I am not even sure for investment, KR can be better than The Seaview or other FH condo such as The Esta etc which are also close to Parkway Parade and town centre.
Akira Fudou
21-04-12, 13:50
Same here, agenda aside, i totally agreed what he said. But KR to me is still ok. I dont understand Sky Habitat...
Same here, agenda aside, i totally agreed what he said. But KR to me is still ok. I dont understand Sky Habitat...
Am concerned about the spill over effect from City Plaza once 1KM mall is ready. Drove by one Sunday afternoon and noticed CP was a hangout for maids and their bf.
Finally you can see Geylang Serai condo selling for $1600psf..and mind u, this condo is located at the Geylang Serai area which will be bustling, crowded and noisy during the 30-days fasting month of Ramadan.
This location is not really ideal for living. A smelly wet market is just like 50 metres away, and opposite is the run-down City Plaza complex. As an agent myself, I find it hard to believe that there are still people willing to commit big money to such location.
As a responsible agent, I would not recommend any buyers to consider this judging by the steep psf prices. There are so many other better nicer choices like Fulcrum (near prime Tanjong Rhu area) which is launching today with a psf price expected from $1500-2300, or Meyer Rise which is located at the prime freehold district of Meyer Road and still have 100 over units left for sale. These 2 developments have nicer architecture and facilities and their design themes are far and above Katong Regency design/layout concepts.
Guess if the property market corrects by 10-15%, this kind of development will see the most correction in price.
I guess those who bought have not done a proper homework. They have been consumed by the tall words of some agents who over marketed the Paya Lebar HUB which is still years away. A home must always be a home and not a busy place to live. Some agents say good rental...but show me the $$$...the HUB is still not ready yet and not everyone wants to be living so close to their working place. And with that kind of $1.5-2.5 million price for 2 and 3 bedroom, can the tenants who work at the HUB afford to pay sky high rentals from $5-8k ??? If the buyers want to capture good quality tenants, most of these tenants work closer to city or prime districts and not near Geylang Serai unfortunately. Even in D15, this location is not even close in 'quality of living' rating compared to Meyer, Amber, Tanjong Rhu or Marine Parade.
This is a fact but many less experienced investors fail to realise.
Agree that areas surrounding KR not the most ideal for young families esp during weekends but this is FH and near mRT and city and price is relatively cheaper than some LH.
For rental yields, which FH condos in Amber, MP and Meyer will be better than KR?
Agree that areas surrounding KR not the most ideal for young families esp during weekends but this is FH and near mRT and city and price is relatively cheaper than some LH.
For rental yields, which FH condos in Amber, MP and Meyer will be better than KR?
KR is not even built yet, so how to compare rental yield? Best case projection for KR is rental yield may be comparable to Marine Parade or slightly better because it is new (when TOP years later) and next to MRT station. Marine Parade, Amber and Meyer areas are proven residential areas with town centre facilities and come at lower prices. Ease of rental is key.
is paya lebar lor, what katong? lol
next time someone build a condo in ponggol with a small garden/orchard theme also can name it Orchard Regency hahaha.
I am not sure what Shawn's interest was, I do however, agree with him that KR as compare with other parts of D15 is not ideal for comfort residential living. For much lower price, one could buy Butterworth 8 or Haig Court. One could also buy condo at Amber area (200m from KR) for less and probably for the same price around Meyer area.
I am not even sure for investment, KR can be better than The Seaview or other FH condo such as The Esta etc which are also close to Parkway Parade and town centre.
mixed developments always demand a premium
is paya lebar lor, what katong? lol
next time someone build a condo in ponggol with a small garden/orchard theme also can name it Orchard Regency hahaha.
It is next to tanjong katong road.:sleep:
It is next to tanjong katong road.:sleep:
Tanjong Regency suits better esp considering the type of crowds the mall gonna be drawing...
Tanjong Regency suits better esp considering the type of crowds the mall gonna be drawing...
I honestly don't think this area is that bad. Especially by the time KR is built and all the other nearby commercial buildings are done up.
Why is everyone here so racist? Do you think every forumer here are of your race? Do u think every reader are Singaporean? :tsk-tsk:
Not targeting this at u cabuncle, just in general. Over at Millage, before the launch, people were giving all sort of racist remarks just because of its location and proximity to the Geylang Serai Market.
A great investor will invest anywhere as long as it makes good $. Why be bothered about the race and nationalities of the people in that area? In that case these people will never venture into the global market. Narrow minded :banghead: .
My :2cents: is, the people who are talking down projects or investments decisions because of race/nationalities are people who will never be successful. Great people should have a great heart.
mixed developments always demand a premium
But whether it will sell at a premium later on in the lifecycle.
Look at opposite.. Lion City Plaza.. similar concept but build ages ago.
I honestly don't think this area is that bad. Especially by the time KR is built and all the other nearby commercial buildings are done up.
Why is everyone here so racist? Do you think every forumer here are of your race? Do u think every reader are Singaporean? :tsk-tsk:
Not targeting this at u cabuncle, just in general. Over at Millage, before the launch, people were giving all sort of racist remarks just because of its location and proximity to the Geylang Serai Market.
A great investor will invest anywhere as long as it makes good $. Why be bothered about the race and nationalities of the people in that area? In that case these people will never venture into the global market. Narrow minded :banghead: .
My :2cents: is, the people who are talking down projects or investments decisions because of race/nationalities are people who will never be successful. Great people should have a great heart.
You sound all high and mighty young man. I salute you. Your thinking is still straight as an arrow. Most of your opinions I same frequency except this one. I follow MIW policy. Now they shut out foreigners, I also anti-foreigner. If and when they open doors again I will also welcome with wide open arms. I am a good citizen. You opposition supporter? ;-) (pls note satire)
mixed developments always demand a premium
It is only now that there is a high demand for mixed developments because the thinking is that such developments are easier to rent out.
If we look at some older mixed developments such as Queensway Shopping Centre, City Plaza and Crescendo Building (at Siglap). The demand for these developments is low and cost less than other full residential developments nearby. There is no premium for these older mixed developments unless they have en bloc potential. Then again, en bloc for mixed developments can be very difficult as we all know.
These new mixed developments will become old someday and their fate are likely to be similar to that of older mixed developments we see today. Are they really worth the premium in the longer term?????
You sound all high and mighty young man. I salute you. Your thinking is still straight as an arrow. Most of your opinions I same frequency except this one. I follow MIW policy. Now they shut out foreigners, I also anti-foreigner. If and when they open doors again I will also welcome with wide open arms. I am a good citizen. You opposition supporter? ;-) (pls note satire)
Haha thanks for the compliments!
I am a policy supporter. :D:cheers5: I used to be quite narrow minded but as i step into society, I realised how important some of our countries' policies are. Most Singaporeans I know however like to complaint about every single policy. Good or bad. All they know is to receive free GST$ it is good. Some still complain because their parents live in Condo, thus, lower sum of free $.
Policies that doesnt bother them, they rebuke. Just like how Singapore Govt is able to help the poor afford HDB, when our MP mentioned that in his budget, netizens went crazy.
How many of such netizens were under the <$1000 household income category? These citizens probably don't own internet connection or a simple netbook at all.
We should favor good macro and micro policies as well as social ones. Not just rebuke everything the govt is doing. Of course every organisation needs constant checks and balances. Nothing is perfect. Instead of rebuking, why not provide solutions?
Ok sidetrack too much.
Indeed foreigners affect property prices for us investors. I'm not saying i favor them cutting down the numbers. But I have nothing against Katong, Geylang area just because of its crowd. Look at rochor road, farrer park, owen road area. Used to be somewhere people stay away from. Look at prices of City Sq now. First batch buyers are sitting on more than 3 fold gains now. Tell me why do you bother if you are a savvy investor? you'd have missed out the boat just because you wanna stay away from certain group of people!
Will we avoid duxton, chinatown area? A few years from now, the MOP of duxton hdb will be satisfied. By then, we will see HDB prices soaring above 1mil. Are we stupid to avoid that area because there're too many certain group of people in Chinatown?
speculator
21-04-12, 20:22
this could become a lucky plaza or golden mile :D
but business can always adapt to the crowd. Money remittance service, Pinoy restaurant or Golden Mile, Thai food specialist :cheers5:
as long as it make money, everyone's happy. :cheers4:
this could become a lucky plaza or golden mile :D
but business can always adapt to the crowd. Money remittance service, Pinoy restaurant or Golden Mile, Thai food specialist :cheers5:
as long as it make money, everyone's happy. :cheers4:
There is an inherent unknown about this development. UOL is controlling the retail. What if they decide to sell? what would be the profile of the buyers? Also, what if they unilaterally decide to enbloc? Can residents object? Remember they hold ownership over the mall and I am sure their shares in this development is high. By they way, resident carpark at 6th floor is kinda tedious.
Finally you can see Geylang Serai condo selling for $1600psf..and mind u, this condo is located at the Geylang Serai area which will be bustling, crowded and noisy during the 30-days fasting month of Ramadan.
This location is not really ideal for living. A smelly wet market is just like 50 metres away, and opposite is the run-down City Plaza complex. As an agent myself, I find it hard to believe that there are still people willing to commit big money to such location.
As a responsible agent, I would not recommend any buyers to consider this judging by the steep psf prices. There are so many other better nicer choices like Fulcrum (near prime Tanjong Rhu area) which is launching today with a psf price expected from $1500-2300, or Meyer Rise which is located at the prime freehold district of Meyer Road and still have 100 over units left for sale. These 2 developments have nicer architecture and facilities and their design themes are far and above Katong Regency design/layout concepts.
Guess if the property market corrects by 10-15%, this kind of development will see the most correction in price.
I guess those who bought have not done a proper homework. They have been consumed by the tall words of some agents who over marketed the Paya Lebar HUB which is still years away. A home must always be a home and not a busy place to live. Some agents say good rental...but show me the $$$...the HUB is still not ready yet and not everyone wants to be living so close to their working place. And with that kind of $1.5-2.5 million price for 2 and 3 bedroom, can the tenants who work at the HUB afford to pay sky high rentals from $5-8k ??? If the buyers want to capture good quality tenants, most of these tenants work closer to city or prime districts and not near Geylang Serai unfortunately. Even in D15, this location is not even close in 'quality of living' rating compared to Meyer, Amber, Tanjong Rhu or Marine Parade.
This is a fact but many less experienced investors fail to realise.
i dont want to stay in a stretch of road where in condos 60% n more could be rich snobbish pple whom back ground came from a caste system. i heard in 1 condo, 60% of them petition to management to bar maids from taking lift and can only use cargo lift.
the quality of life is indeed very high on that road. not hard to guess y they all like to stay on 1 road. if you belong to the "caste", look for shawn, he will show u membership into this highest quality of living among your peers. your unit will also get lots of sunshine to enhance the quality of living.
i dont want to stay in a stretch of road where in condos 60% n more could be rich snobbish pple whom back ground came from a caste system. i heard in 1 condo, 60% of them petition to management to bar maids from taking lift and can only use cargo lift.
the quality of life is indeed very high on that road. not hard to guess y they all like to stay on 1 road. if you belong to the "caste", look for shawn, he will show u membership into this highest quality of living among your peers. your unit will also get lots of sunshine to enhance the quality of living.
that's a disgraceful petition.
:jaw-dropping:
i dont want to stay in a stretch of road where in condos 60% n more could be rich snobbish pple whom back ground came from a caste system. i heard in 1 condo, 60% of them petition to management to bar maids from taking lift and can only use cargo lift.
the quality of life is indeed very high on that road. not hard to guess y they all like to stay on 1 road. if you belong to the "caste", look for shawn, he will show u membership into this highest quality of living among your peers. your unit will also get lots of sunshine to enhance the quality of living.
i dont want to stay in a stretch of road where in condos 60% n more could be rich snobbish pple whom back ground came from a caste system. i heard in 1 condo, 60% of them petition to management to bar maids from taking lift and can only use cargo lift.
the quality of life is indeed very high on that road. not hard to guess y they all like to stay on 1 road. if you belong to the "caste", look for shawn, he will show u membership into this highest quality of living among your peers. your unit will also get lots of sunshine to enhance the quality of living.
Well go ahead and buy Geylang Serai Regency then. I heard the studio at 581 sq.ft has been sold at $980k...and most of the buyers are people who have shops there or stay close to that location. They buy through advanced booking system, as such, there were trapped into buying it thinking that this condo wont be that expensive when launch but since they have issued a blank cheque to the agent, agent just proceed with the bookings.
I am curious how many will just forfeit their 1% deposit. I got the feeling quite a good handful.
It is next to tanjong katong road.:sleep:
It is more like in Geylang Serai than Tanjong Katong cause its located right at the edge of Geylang Serai and TK road.
It is more like in Geylang Serai than Tanjong Katong cause its located right at the edge of Geylang Serai and TK road.
So? still TK road right?
Well go ahead and buy Geylang Serai Regency then. I heard the studio at 581 sq.ft has been sold at $980k...and most of the buyers are people who have shops there or stay close to that location. They buy through advanced booking system, as such, there were trapped into buying it thinking that this condo wont be that expensive when launch but since they have issued a blank cheque to the agent, agent just proceed with the bookings.
I am curious how many will just forfeit their 1% deposit. I got the feeling quite a good handful.
I don't believe this. This is a serious offence of the agents, They'll get their licenses revoked. I dropped a cheque and i was at the VVIP preview. You're full of nonsense. :doh:
Well go ahead and buy Geylang Serai Regency then. I heard the studio at 581 sq.ft has been sold at $980k...and most of the buyers are people who have shops there or stay close to that location. They buy through advanced booking system, as such, there were trapped into buying it thinking that this condo wont be that expensive when launch but since they have issued a blank cheque to the agent, agent just proceed with the bookings.
I am curious how many will just forfeit their 1% deposit. I got the feeling quite a good handful.
Buyers still have to sign OTP which is a legal document to confirm the deal. Agents cannot just bank in the blank cheque.
phantom_opera
22-04-12, 09:40
Beware developer can sue u for spreading Negative untrue remark
Buyers still have to sign OTP which is a legal document to confirm the deal. Agents cannot just bank in the blank cheque.
Agents don bank in cheque. Its developer that bank in cheque. Without OTP signed, don think Dev will bank in cheque la... Buyer so stupid meh, if didnt sign OTP and can't get back the cheque, cannot stop the cheque meh??:doh:
phantom_opera
22-04-12, 10:51
Prove only one thing, many still sour grapes, peak is still far as long as Ppl like Shawn and basic screaming daily
Well go ahead and buy Geylang Serai Regency then. I heard the studio at 581 sq.ft has been sold at $980k...and most of the buyers are people who have shops there or stay close to that location. They buy through advanced booking system, as such, there were trapped into buying it thinking that this condo wont be that expensive when launch but since they have issued a blank cheque to the agent, agent just proceed with the bookings.
I am curious how many will just forfeit their 1% deposit. I got the feeling quite a good handful.
Don't TCSS lah u..
U are a housing agent,more so u should b very careful of things u say.
especially many of us here know which real estate co. u are from.
i dont want to stay in a stretch of road where in condos 60% n more could be rich snobbish pple whom back ground came from a caste system. i heard in 1 condo, 60% of them petition to management to bar maids from taking lift and can only use cargo lift.
the quality of life is indeed very high on that road. not hard to guess y they all like to stay on 1 road. if you belong to the "caste", look for shawn, he will show u membership into this highest quality of living among your peers. your unit will also get lots of sunshine to enhance the quality of living.
what condo is that? must have private lifts for each unit?
what condo is that? must have private lifts for each unit?
Those condos along meyer rd...
speculator
22-04-12, 16:19
Those condos along meyer rd...
MeyeRise private lift for each unit and chandelier everywhere. :D
MeyeRise private lift for each unit and chandelier everywhere. :D
if like that, how to show off?
I prefer Martin Place Residence.
bigger units have private lifts.
however they share common lobby with the smaller units
so those who stay in smaller units will know who stay in the bigger units and look in envious at those who stay in bigger units.
the big unit owner will think.
"I stay in bigger unit, I am richer than you, eat your heart out, neighbour.
you no money but want to stay in RV, no choice buy 1 bedder or 2 bedder."
Hopeful I start to like your posts.... Brutally honest ... :D
And Shawn, no such thing as blindly proceed with th cheques lah. People are genuinely interested. Do you know on the 1st day (meant for Wee & Co buddies), there were ppl trying to sneak in and were chased out. Serious there is a great deal of interest in this. best 3bd stack was cleared on day 1, and there are parties buying more than several units ;)
phantom_opera
22-04-12, 17:06
Freehold and mrt and edutainment are lethal
Freehold and mrt and edutainment are lethal
Where's the edutainment?
Where's the edutainment?
KM One:D :cheers2:
MeyeRise private lift for each unit and chandelier everywhere. :D
Maybe they throw in sandalwood and free belly dancing classes even better...
I don't believe this. This is a serious offence of the agents, They'll get their licenses revoked. I dropped a cheque and i was at the VVIP preview. You're full of nonsense. :doh:
I think a handful of bros here might already have lodged a report to CEA... Ha ha bye bye Shawn... You were good times while it lasted here. This forum is no place for agents. Much less rogue agents. Dont forget false misleading marketing now covers online also wo.
if like that, how to show off?
I prefer Martin Place Residence.
bigger units have private lifts.
however they share common lobby with the smaller units
so those who stay in smaller units will know who stay in the bigger units and look in envious at those who stay in bigger units.
the big unit owner will think.
"I stay in bigger unit, I am richer than you, eat your heart out, neighbour.
you no money but want to stay in RV, no choice buy 1 bedder or 2 bedder."
hah hah like dat must well stay GCB.. I look ver laugh.
Haha thanks for the compliments!
I am a policy supporter. :D:cheers5: I used to be quite narrow minded but as i step into society, I realised how important some of our countries' policies are. Most Singaporeans I know however like to complaint about every single policy. Good or bad. All they know is to receive free GST$ it is good. Some still complain because their parents live in Condo, thus, lower sum of free $.
Policies that doesnt bother them, they rebuke. Just like how Singapore Govt is able to help the poor afford HDB, when our MP mentioned that in his budget, netizens went crazy.
How many of such netizens were under the <$1000 household income category? These citizens probably don't own internet connection or a simple netbook at all.
We should favor good macro and micro policies as well as social ones. Not just rebuke everything the govt is doing. Of course every organisation needs constant checks and balances. Nothing is perfect. Instead of rebuking, why not provide solutions?
Ok sidetrack too much.
Indeed foreigners affect property prices for us investors. I'm not saying i favor them cutting down the numbers. But I have nothing against Katong, Geylang area just because of its crowd. Look at rochor road, farrer park, owen road area. Used to be somewhere people stay away from. Look at prices of City Sq now. First batch buyers are sitting on more than 3 fold gains now. Tell me why do you bother if you are a savvy investor? you'd have missed out the boat just because you wanna stay away from certain group of people!
Will we avoid duxton, chinatown area? A few years from now, the MOP of duxton hdb will be satisfied. By then, we will see HDB prices soaring above 1mil. Are we stupid to avoid that area because there're too many certain group of people in Chinatown?
Aiyo thumbs up la didnt know young guy also can so lor sor.... Lol anyway those areas you mentioned are general and not micro enough. For eg Chinatown is low class but Duxton is atas kit. Petain road is chicken road but Somme road is class. It can be as contrast as that even though side by side. So in this case we know Butterworth more upclass but main concern is City Plaza and spillover effect directly and not the whole area...
I heard it's REALLY almost fully sold ... more than 95%
buttercarp
23-04-12, 22:35
left 5 units
So power :scared-3: ??
This goes to show that a development in any district with an intergrated mall and near the MRT station will sell like hotcakes.
Wait the "mall" become KTV pubs and massage parlors next time...:scared-3:
Wait the "mall" become KTV pubs and massage parlors next time...:scared-3:
Wow, if like that, apartments will have lots of takers..., can easily convert to 'short-time' stay...:scared-3:
Wait the "mall" become KTV pubs and massage parlors next time...:scared-3:
bro, edutainment...need to coin them as singing classes & wellingness development.
bro, edutainment...need to coin them as singing classes & wellingness development.
Edu - teach how to do karaoke and teach massage
Tainment - enjoys the Fruits of thy labor... Always Ending Happily ever after...
This goes to show that a development in any district with an intergrated mall and near the MRT station will sell like hotcakes.
Been proven many times over liao...
Ideally, mall should be located on top or beside mrt with the exception of orchard shopping belt.
Wait the "mall" become KTV pubs and massage parlors next time...:scared-3:
If the shop units were sold to individual retail investors, then there would have a been a high possibility of that.
However, since UOL retained full control of the mall and hence its future tenants, that will almost certainly not happen. UOL actually has some good experience in running thematic malls, e.g. Novena Square as a sports mall and United Square as a kids/educational mall. Might not be wildly successful, but definitely won't become City Plaza version 2.. :2cents:
I don't believe this. This is a serious offence of the agents, They'll get their licenses revoked. I dropped a cheque and i was at the VVIP preview. You're full of nonsense. :doh:
Well i know cause one of my friends bought the studio unit after being coerced by the agent to buy. You are right the buyer has the right to withdraw but the agent coerced him into buying as according to the agent there is a long queue in the waiting list. If he forfeits the chance he will lose the chance entirely to own a unit there. He was actually reduced to desperation when he turned up at the site looking at the huge crowds.
He has prepared a blank cheque, so he is in a difficult situation. With a cheque in hand, its easier for an agent to coerce an inexperienced buyer to buy. Signing the option to purchase is just a small part of the transaction process. After he signed, he called me and tell me he wants to forfeit the cheque of $12500.
So I believe he is not alone. There are many others in the same boat as him.
If the shop units were sold to individual retail investors, then there would have a been a high possibility of that.
However, since UOL retained full control of the mall and hence its future tenants, that will almost certainly not happen. UOL actually has some good experience in running thematic malls, e.g. Novena Square as a sports mall and United Square as a kids/educational mall. Might not be wildly successful, but definitely won't become City Plaza version 2.. :2cents:
I agree. For as long as UOL maintains ownership of the mall, there will be a degree of QC. My concern is that what if UOL decide to sell individual units some day down the road? Residents have no control over what they do with the mall but will have a direct impact to the value of their unit.
Well i know cause one of my friends bought the studio unit after being coerced by the agent to buy. You are right the buyer has the right to withdraw but the agent coerced him into buying as according to the agent there is a long queue in the waiting list. If he forfeits the chance he will lose the chance entirely to own a unit there. He was actually reduced to desperation when he turned up at the site looking at the huge crowds.
He has prepared a blank cheque, so he is in a difficult situation. With a cheque in hand, its easier for an agent to coerce an inexperienced buyer to buy. Signing the option to purchase is just a small part of the transaction process. After he signed, he called me and tell me he wants to forfeit the cheque of $12500.
So I believe he is not alone. There are many others in the same boat as him.
hahaa great effort to write this joke!
Well i know cause one of my friends bought the studio unit after being coerced by the agent to buy. You are right the buyer has the right to withdraw but the agent coerced him into buying as according to the agent there is a long queue in the waiting list. If he forfeits the chance he will lose the chance entirely to own a unit there. He was actually reduced to desperation when he turned up at the site looking at the huge crowds.
He has prepared a blank cheque, so he is in a difficult situation. With a cheque in hand, its easier for an agent to coerce an inexperienced buyer to buy. Signing the option to purchase is just a small part of the transaction process. After he signed, he called me and tell me he wants to forfeit the cheque of $12500.
So I believe he is not alone. There are many others in the same boat as him.
i don't believe he was forced to sign on the dotted line. furthermore, he went in with his eyes wide open.
pressure tactics and coercion are two different things.
Frankly i am curious what would happen when interest raise in 2 yrs time in 2014. say go back to 3-4%.. how many people can sustain such interest payment.
When the tide goes out... how many naked people will be exposed? :ashamed1: :ashamed1: :ashamed1:
Frankly i am curious what would happen when interest raise in 2 yrs time in 2014. say go back to 3-4%.. how many people can sustain such interest payment.
When the tide goes out... how many naked people will be exposed? :ashamed1: :ashamed1: :ashamed1:
this other scenario may happen too. with so many units in the market, there will bound to be banks that lose market share and some that want to gain market share. what happens? tada, loan packages with competitive interest rates. unless you are saying that all banks gang up to form a cartel to control interest rates
Frankly i am curious what would happen when interest raise in 2 yrs time in 2014. say go back to 3-4%.. how many people can sustain such interest payment.
When the tide goes out... how many naked people will be exposed? :ashamed1: :ashamed1: :ashamed1:
why not? with LTV @ 40% many of these buyers can hold
i don't believe he was forced to sign on the dotted line. furthermore, he went in with his eyes wide open.
u know one day maybe he will be even grateful that "the agent persuaded me to sign" ... ;)
to Shawn, as an agent, you should know the interest on this project was really huge. the other agent was not "lying" to say "there is a queue behind you". whether they are all "carrot heads" or not is not yet proven, but you can't really say the other agent "coerced" him. You've got to admit that was a very effective (or even standard ?) sales tactics from agents.
I know on day 1 the original Wee family bought several units. I dare not say they know nothing about this area..... ;)
this other scenario may happen too. with so many units in the market, there will bound to be banks that lose market share and some that want to gain market share. what happens? tada, loan packages with competitive interest rates. unless you are saying that all banks gang up to form a cartel to control interest rates
no need gang up lah.. FED raise interest all will follow. coz currently the loan margin is so low. in times of slow down less new loans upping interest rates improve margin. More quality loan less quantity is fine.
why not? with LTV @ 40% many of these buyers can hold
You sure many LTV 40%? many are 2nd prop with paid up HDB so no need 40% LTV. Plus all cheong new launch even need to pay 40% is pay later. when tide rolls out well they can hold.. sure sell HDB to pay up lor. whole family squeeze into a 500sqf MM. That what I call quality living.
u know one day maybe he will be even grateful that "the agent persuaded me to sign" ... ;)
to Shawn, as an agent, you should know the interest on this project was really huge. the other agent was not "lying" to say "there is a queue behind you". whether they are all "carrot heads" or not is not yet proven, but you can't really say the other agent "coerced" him. You've got to admit that was a very effective (or even standard ?) sales tactics from agents.
I know on day 1 the original Wee family bought several units. I dare not say they know nothing about this area..... ;)
Actually hor, "developer own self buy few units" is also a sales tactic. That aside, I believe the more pragmatic reason is so that valuers will match the project asking price. They base valuation on most recent transacted pricing.
no need gang up lah.. FED raise interest all will follow. coz currently the loan margin is so low. in times of slow down less new loans upping interest rates improve margin. More quality loan less quantity is fine.
The bank's margin is independent of the sibor rate. The sibor may fluctuate but the bank's margin movement is aligned to the competitive marketplace. That said, banks prefer low sibor then they are able to dish out low quantum loans left, right and centre...like they do today!
Actually hor, "developer own self buy few units" is also a sales tactic.
oh u thought I'm referring to the UOL Wee & Co ? no no, I'm referring to the other Wee, the one who built and owns Lion City hotel. His family sold the site to UOL, and his family bought into this project on day 1.
oh u thought I'm referring to the UOL Wee & Co ? no no, I'm referring to the other Wee, the one who built and owns Lion City hotel. His family sold the site to UOL, and his family bought into this project on day 1.
Correct. I heard bought one stack.
left 5 units
Is this project a sold out yet? If so it would really be power! Sold out in a week!
oh u thought I'm referring to the UOL Wee & Co ? no no, I'm referring to the other Wee, the one who built and owns Lion City hotel. His family sold the site to UOL, and his family bought into this project on day 1.
If not wrong they also own a row of bungalows along Thiam Siew Ave, which are being rented out.:scared-5:
oh u thought I'm referring to the UOL Wee & Co ? no no, I'm referring to the other Wee, the one who built and owns Lion City hotel. His family sold the site to UOL, and his family bought into this project on day 1.
Oh I see! For sentimental value then in this case...
This project is over rated. Too near geylang. Quite a congested area. So don't see why people rush in. Going to be interesting to see if any people back out.
If not wrong they also own a row of bungalows along Thiam Siew Ave, which are being rented out.:scared-5:
That is one really very well kept row of houses!!!
This project is over rated. Too near geylang. Quite a congested area. So don't see why people rush in. Going to be interesting to see if any people back out.
May be over rated but think many people see good rental value bec of mall, MRT and close to city. Some probably have businesses near by, and the so called Paya Lebar hub development. All these together come together and you get "almost sold out" within a week. Many here have predicted that.
May be over rated but think many people see good rental value bec of mall, MRT and close to city. Some probably have businesses near by, and the so called Paya Lebar hub development. All these together come together and you get "almost sold out" within a week. Many here have predicted that.
I'll buy this over SH anytime. FH wins hands down already....:p
I'll buy this over SH anytime. FH wins hands down already....:p
I don't think FH or LH really matters in the short to medium term. More importantly is that KR residents can get accustomed to daily living in that environment. Its really not for everyone. No point FH if you are not accustomed or cannot adjust to the area.
I don't think FH or LH really matters in the short to medium term. More importantly is that KR residents can get accustomed to daily living in that environment. Its really not for everyone. No point FH if you are not accustomed or cannot adjust to the area.
I speaking from the view point of a long term investor. FH beat LH in the long run. No arguement on that.
I'll buy this over SH anytime. FH wins hands down already....:p
Your nick seemed to suggest otherwise....!!!!! Lol
I speaking from the view point of a long term investor. FH beat LH in the long run. No arguement on that.
Then this becomes a FH vs LH debate...not KR vs SH
Your nick seemed to suggest otherwise....!!!!! Lol
My nick came 1st:tongue3:
Anyway, it's my personal choice.... FH over LH.... KR over SH... Nothing to debate over...:)
heard last unit sold today.. ...........
phantom_opera
25-04-12, 22:29
heard last unit sold today.. ...........
:cheers4: :cheers5:
WOW
So much for cooling property market!
Cheong ah! Huat ah!:cheers4:
flagship74
25-04-12, 22:36
Yeah FULLY SOLD..confirm plus chop.:D
Most forumers were spot on. Many have said KR will easily be sold out.
Most probably bought not for self stay but for rental.
heard last unit sold today.. ...........
sold out in a week? yoo hoo where's CM6?? :D
So much for cooling property market!
Cheong ah! Huat ah!:cheers4:
Yeah its amazing!!!!
sold out in a week? yoo hoo where's CM6?? :D
Tomorrow is Thursday no? Maybe...
phantom_opera
25-04-12, 22:52
they even have this:
http://cdn-sg2.pgimgs.com/images/thumb/a/e/a/1/aea15a19891552_1_V550.jpg
Don't think CM6 will come so soon.
Properties prices are relatively stable now plus minus few percentage points.
New sales may push prices up a little bit but resales are slightly down so all even out.
SH in Bishan probably a once off for now and other new launches in OCR very difficult to match or set new landmark prices.
phantom_opera
25-04-12, 22:59
Nope nope ... even resale asking price is already up one notch ... it is what we call the Sky Habitat Effect ... or Katong Regency Effect :hell-hath-no-fury:
I believe many who buy 1 or 2 bedders n pushing up e psf of new launches r investors. CM is quite likely soon.
I believe many who buy 1 or 2 bedders n pushing up e psf of new launches r investors. CM is quite likely soon.
My Paper today says analysts believe CM could come in 4 to 6 weeks. They speculated that the target are investment units in the form of higher taxes for second and third property owners.
Frankly i am curious what would happen when interest raise in 2 yrs time in 2014. say go back to 3-4%.. how many people can sustain such interest payment.
When the tide goes out... how many naked people will be exposed? :ashamed1: :ashamed1: :ashamed1:
Who will buy HDB S$12,000,000,000 MULTICURRENCY MEDIUM TERM NOTE PROGRAMME if say interest raise in 2 yrs time in 2014. say go back to 3-4%..
Maybe can ask the guy who buy from HDB.:beats-me-man:
It so easy to print money now. No ink require, all electron and protron.
http://info.sgx.com/listprosp.nsf/5245e385cdebab8d48256604000bc314?OpenView&Start=79&Count=30&Expand=80
http://www.hdb.gov.sg/fi10/fi10296p.nsf/PressReleases/F14ED6C708CABBE6482579EB0010EF09?OpenDocument
S$360 million 5-year Fixed Rate Notes (the “Notes”) with a coupon of 1.165% per annum payable semi-annually in arrear. The Notes were issued on 24 April 2012 and will mature on 24 April 2017.
S$800 million 10-year Fixed Rate Notes (the “Notes”) with a coupon of 2.185% per annum payable semi-annually in arrear. The Notes were issued on 25 April 2012 and will mature on 25 April 2022.
I don't understand how can interest raise when someone buy the above, anyone can give any idea how it work.:beats-me-man:
Fed Raises Economic Outlook, Leans Toward 2014 Hike
Published: Wednesday, 25 Apr 2012 | 2:07 PM ET
The Federal Reserve has boosted its outlook for U.S. economic growth this year and is slightly more optimistic about the unemployment rate, reflecting improvements in recent months.
In an updated forecast Wednesday, the Fed predicts the economy will grow between 2.4 percent and 2.9 percent in 2012. That compares with its forecast in January, when it estimated growth this year between 2.2 percent and 2.7 percent.
The Fed is estimating that unemployment, now at a three-year low of 8.2 percent, will be between 7.8 percent and 8 percent at year's end.
Its prediction for inflation is slightly higher but remains below its 2 percent target. And 11 Fed officials expect the first interest rate hike will not occur until 2014 or later, the same number who said so in January.
But the statement was a bit more hawkish in sentiment, with seven Open Market Committee members seeing a rate hike in 2014.
The forecast is critical in that it is indicative of whether the Fed will take on a third round of quantitative easing (http://www.cnbc.com/id/43590420/) measures to boost the economy. An improving economy would suggest that QE3 is not imminent, though Chairman Ben Bernanke reiterated that the central bank is keeping its options open.
I don't understand how can interest raise when someone buy the above, anyone can give any idea how it work.:beats-me-man:
... err exactly which part you are puzzled .. ? why can HDB borrow 10y SGD at 2.185% ?
My Paper today says analysts believe CM could come in 4 to 6 weeks. They speculated that the target are investment units in the form of higher taxes for second and third property owners.
Are these the same "analysts" that says the previous CM will result in the market correcting 30% over 6 months ?
If they are the same "analysts", I think its time they stop calling them analysts, just refer to them as "someone".
DKSG
PS : I more analyst than them! :D
phantom_opera
26-04-12, 14:27
http://www.hdb.gov.sg/fi10/fi10296p.nsf/PressReleases/F14ED6C708CABBE6482579EB0010EF09?OpenDocument
S$360 million 5-year Fixed Rate Notes (the “Notes”) with a coupon of 1.165% per annum payable semi-annually in arrear. The Notes were issued on 24 April 2012 and will mature on 24 April 2017.
S$800 million 10-year Fixed Rate Notes (the “Notes”) with a coupon of 2.185% per annum payable semi-annually in arrear. The Notes were issued on 25 April 2012 and will mature on 25 April 2022.
I don't understand how can interest raise when someone buy the above, anyone can give any idea how it work.:beats-me-man:
Simple ... market does not expect interest rate to go much higher above 2.2% in 10y time on average
Simple ... market does not expect interest rate to go much higher above 2.2% in 10y time on average
That is great news for property investors!
That is great news for property investors!
Should we take up fix interest or variable interest for housing loan?
phantom_opera
26-04-12, 14:42
We are doomed to have huge property bubble over the next 10y because our financial system pegging our bank interest rate to US Fed rate ... we can only use exchange rate to fight inflation yet we are afraid of losing competitiveness
The guys in MAS / MTI know it ... but yet they allow COE to go much higher, REITs to buy even more malls and reserve price for GLS to go even higher
The famous saying goes ... it is very hard to tame inflation expectation unless or until the rich gets hurt by hyperinflation
The rich-poor divide will get wider and wider as middle class not able to invest in property due to 60% LTV but yet facing high inflation of 8% every year ... and they probably never will
phantom_opera
26-04-12, 14:47
Might as well buy TIPS instead of HDB fixed rate bond ...
http://www.google.com/finance?chdnp=1&chdd=1&chds=1&chdv=1&chvs=maximized&chdeh=0&chfdeh=0&chdet=1335422746356&chddm=825792&chls=IntervalBasedLine&q=NYSEARCA:TIP&ntsp=0
We are doomed to have huge property bubble over the next 10y because our financial system pegging our bank interest rate to US Fed rate ... we can only use exchange rate to fight inflation yet we are afraid of losing competitiveness
The guys in MAS / MTI know it ... but yet they allow COE to go much higher, REITs to buy even more malls and reserve price for GLS to go even higher
The famous saying goes ... it is very hard to tame inflation expectation unless or until the rich gets hurt by hyperinflation
The rich-poor divide will get wider and wider as middle class not able to invest in property due to 60% LTV but yet facing high inflation of 8% every year ... and they probably never will
The move that clearly demonstrated the govt's singular objective to attain high reserve price was when UOL's paya lebar bid was rejected. The govt had this golden opportunity to signal to the market that land prices should not rise too much and should be moderated. Instead, they rejected the bid. The message they sent to the market had the effect that there is more upside to prices and all GLS must chiong ahhhhh
The move that clearly demonstrated the govt's singular objective to attain high reserve price was when UOL's paya lebar bid was rejected. The govt had this golden opportunity to signal to the market that land prices should not rise too much and should be moderated. Instead, they rejected the bid. The message they sent to the market had the effect that there is more upside to prices and all GLS must chiong ahhhhh
It is in the govt interest to maintain a stable and healthy property market with a bias towards gradual appreciation.
All agree right ?
DKSG
It is in the govt interest to maintain a stable and healthy property market with a bias towards gradual appreciation.
All agree right ?
DKSG
In spirit, yes. However, the rejection of UOL's low bid and the ever-escalating new BTO prices just send out conflicting signals.
I think we are just being milked while the sun is still up.
In spirit, yes. However, the rejection of UOL's low bid and the ever-escalating new BTO prices just send out conflicting signals.
I think we are just being milked while the sun is still up.
The rejection of UOL's bid was more so because there was no competitive bids to compare and it went against the government's standard operating procedures if URA would award it to UOL. If there had been two more bids lower than UOL, I am quite sure URA would have accepted the bid put forth by UOL.
Uncle Wee never buy kopi la ...unlike Uncle Liew ...
The rejection of UOL's bid was more so because there was no competitive bids to compare and it went against the government's standard operating procedures if URA would award it to UOL. If there had been two more bids lower than UOL, I am quite sure URA would have accepted the bid put forth by UOL.
The rejection of UOL's bid was more so because there was no competitive bids to compare and it went against the government's standard operating procedures if URA would award it to UOL. If there had been two more bids lower than UOL, I am quite sure URA would have accepted the bid put forth by UOL.
my memory may be failing but that isn't the reason put forth by the government.
"The Urban Redevelopment Authority (URA) has rejected the only bid submitted by the subsidiaries of UOL Group and Singapore Land for a
commercial site at Sims Avenue / Tanjong Katong Road because the price is too low.
UOL Venture Investments and SL Development had submitted a joint bid of S$529.3 million, or about S$566 psf per plot ratio, for the 99-year leasehold site. “We are very disappointed that the tender has
not been awarded. We were looking forward to a constructive role in the Government’s long-term plan to decentralise commercial activities outside of CBD which will help ease business costs, reduce undue congestion and revitalise urban nodes,” the consortium said in a joint statement. “The rejection is a setback to that decentralisation plan.” It said the bid had been a fair one considering “the site’s technical challenges and resultant impact on layout, as well as the recent global economic turbulences
and enhanced market risks”.
“The rejection came as a surprise to us … As price consideration was the only reason given for the rejection, it would be useful that for future land tenders, the reserve price be made known to the public as much cost
and effort are put into submissions of such a scale.’’
The bid for the 2.07-ha site closed on Oct 18. "
The rejection of UOL's bid was more so because there was no competitive bids to compare and it went against the government's standard operating procedures if URA would award it to UOL. If there had been two more bids lower than UOL, I am quite sure URA would have accepted the bid put forth by UOL.
This begs the question why were there no other bids??? My take is that there was a small window when market sentiment was directionless and it happened at the time of the paya lebar tender. This window of opportunity was a godsend. It gave the govt an opportunity to show hand on where they want the market to head. When they rejected the bid, the signal they sent is to chiong. This is one reason why we are in this high priced situation today. Had the govt accepted the bid and backed up with good reason, the market would be in a better controlled state today.
Brudder, cannot anyhow say.
In the same vein, cannot anyhow sell...
Top Spin is simple - "we cannot have a raid on our Reserves via this low bid".
Counter-Reverse Spin - "our bidding process is transparent and we will except the bid" or "taking in account the irregular feature of the plot, we accept that a lower bid is acceptable".
In this case, they went with Top Spin without explanantion...
This begs the question why were there no other bids??? My take is that there was a small window when market sentiment was directionless and it happened at the time of the paya lebar tender. This window of opportunity was a godsend. It gave the govt an opportunity to show hand on where they want the market to head. When they rejected the bid, the signal they sent is to chiong. This is one reason why we are in this high priced situation today. Had the govt accepted the bid and backed up with good reason, the market would be in a better controlled state today.
This begs the question why were there no other bids??? My take is that there was a small window when market sentiment was directionless and it happened at the time of the paya lebar tender. This window of opportunity was a godsend. It gave the govt an opportunity to show hand on where they want the market to head. When they rejected the bid, the signal they sent is to chiong. This is one reason why we are in this high priced situation today. Had the govt accepted the bid and backed up with good reason, the market would be in a better controlled state today.
Whatever the official reason might be, it would not be right to award to the sole bidder. URA would not be able to answer to the AG during the annual audit. If I were one of the bid evaluator, I would not dare to recommend for award with only one bid unless the TOP said so. Who in URA (at the Top) would want to do that?
The question is, whether the bid is above or under the reserved price.
Whatever the official reason might be, it would not be right to award to the sole bidder. URA would not be able to answer to the AG during the annual audit. If I were one of the bid evaluator, I would not dare to recommend for award with only one bid unless the TOP said so. Who in URA (at the Top) would want to do that?
To the lay person, when you have an open tender, and there is only one bid, its speaks about the market, eg; if tomorrow coe crash to $1, the govt also accept. Why not in this case. Anyway not vested
The question is, whether the bid is above or under the reserved price.
At the rate the market is moving, a reserved price can be dated very quickly.
The question is, whether the bid is above or under the reserved price.
This site was not under the list where URA would call for a tender as long as any developer agreed to bid above the reserved price., so the reserved price concept did not apply for this case.
It was also not prudent to base on the Chief Valuer's only valued price as the reserved price. Perhaps, and indeed the bid was below the Chief Valuer's valued price which was not disclosed. Perhaps, there was no indicative price at all by the Chief Valuer. URA has been silence on this aspect.
This site was not under the list where URA would call for a tender as long as any developer agreed to bid above the reserved price., so the reserved price concept did not apply for this case.
It was also not prudent to base on the Chief Valuer's only valued price as the reserved price. Perhaps, and indeed the bid was below the Chief Valuer's valued price which was not disclosed. Perhaps, there was no indicative price at all by the Chief Valuer. URA has been silence on this aspect.
so, your point being?! if the bid was above reserved price (which should be taken at market value), i won't have any doubt that it will be welcomed with arms wide open. this issue is not about procedural justice but the symbolic meaning of rejecting a low bid.
we have a govt that's saying property prices are running away, and it's a known fact that land costs is a major contributing factor. By refusing to temper it's expectations, it instead puts together a statement that gives conflicting signals. to me, it is plain hypocrisy.
to use another easier example - HDB. Why on earth is a new 4-room BTO going at more than $500k nowadays? Did the cost of cement skyrocketed stratospherically? It's the cost of land and guess who owns & values the land?
Hey that's my Reserves you talking about...we don't want to end up like those American native Indians and lose their land to the pale-face people.
BTO, DBSS or 99LH condo land is all our Reserves...cannot anyhow sell away.
so, your point being?! if the bid was above reserved price (which should be taken at market value), i won't have any doubt that it will be welcomed with arms wide open. this issue is not about procedural justice but the symbolic meaning of rejecting a low bid.
we have a govt that's saying property prices are running away, and it's a known fact that land costs is a major contributing factor. By refusing to temper it's expectations, it instead puts together a statement that gives conflicting signals. to me, it is plain hypocrisy.
to use another easier example - HDB. Why on earth is a new 4-room BTO going at more than $500k nowadays? Did the cost of cement skyrocketed stratospherically? It's the cost of land and guess who owns & values the land?
Hey that's my Reserves you talking about...we don't want to end up like those American native Indians and lose their land to the pale-face people.
BTO, DBSS or 99LH condo land is all our Reserves...cannot anyhow sell away.
and transfer the burden of the debt to citizens? and come up with all sorts of CM and flush the market with supplies and supplies?
hypocrisy
That is great news for property investors!
HUATHUATHUAT AHHHHHH
... err exactly which part you are puzzled .. ? why can HDB borrow 10y SGD at 2.185% ?
The part I am puzzled is "Why are there people who think interest rate is going up when HDB is able to borrow 10y SGD at 2.185% at 1.2 Billion"
The part I am puzzled is "Why are there people who think interest rate is going up when HDB is able to borrow 10y SGD at 2.185% at 1.2 Billion"
those r the missed boat passengers
phantom_opera
26-04-12, 19:15
The part I am puzzled is "Why are there people who think interest rate is going up when HDB is able to borrow 10y SGD at 2.185% at 1.2 Billion"
Hmm ... amk is going to tell you DBS / CAPL is paying 4-5% if you are able to buy in 200k tranches
The rate also depends on the risk of the bond... not entirely due to interest rate expectation ... may be HDB bond is basically guaranteed by government while the DBS/CAPL corporate bond carry higher risk
Haha I didn't realize that was just a rhetoric question :)
Btw since we are on this thread, UOL is issuing a 3/5 yr bond today with a rate around 2.## too.
Haha I didn't realize that was just a rhetoric question :)
Btw since we are on this thread, UOL is issuing a 3/5 yr bond today with a rate around 2.## too.
Who are the buyers of these low interest rate bonds?
To the lay person, when you have an open tender, and there is only one bid, its speaks about the market, eg; if tomorrow coe crash to $1, the govt also accept. Why not in this case. Anyway not vested
The COE tender system was structured this way so it cannot be compared with the URA's land tender.
Who are the buyers of these low interest rate bonds?
Funds , a lot of them. thanks to the crisis a lot of ppl scared of equity and flock to bond funds, fund house capitalize on this. Almost riskless fees.
Insurance companies. They need real safe assets to have a stable return. High yield is not needed. 2-3% is perfectly ok as they can always declare to the policy holders "this year's return is xx% due to market condition".
HNWI. The UOL note pays spread about 180 to 200bps. HNWI can borrow at 100bps and buy this kind of bond, earn the 100bps free money.
so, your point being?! if the bid was above reserved price (which should be taken at market value), i won't have any doubt that it will be welcomed with arms wide open. this issue is not about procedural justice but the symbolic meaning of rejecting a low bid.
we have a govt that's saying property prices are running away, and it's a known fact that land costs is a major contributing factor. By refusing to temper it's expectations, it instead puts together a statement that gives conflicting signals. to me, it is plain hypocrisy.
to use another easier example - HDB. Why on earth is a new 4-room BTO going at more than $500k nowadays? Did the cost of cement skyrocketed stratospherically? It's the cost of land and guess who owns & values the land?
The point here is there may not be a reserved price in the URA's land tender. The assumption could be that there should be sufficient competitive bids to make decision. In this particular case, there was no competitive bid to compare and thus making award to the only bidder just did not seem right as stated. Among others, URA would be having trouble meeting the requirements of the annual audit by the AG.
Even if there exist a fair market value as determined by the Chief Valuer and UOL only bid met the price, URA might not want to award (in this case URA did not award) due to a lack of competitive bid for comparison. That is my point.
The point here is there may not be a reserved price in the URA's land tender. The assumption could be that there should be sufficient competitive bids to make decision. In this particular case, there was no competitive bid to compare and thus making award to the only bidder just did not seem right as stated. Among others, URA would be having trouble meeting the requirements of the annual audit by the AG.
Even if there exist a fair market value as determined by the Chief Valuer and UOL only bid met the price, URA might not want to award (in this case URA did not award) due to a lack of competitive bid for comparison. That is my point.
you are assuming the mechanics are as such, while the govt's official statement is that the bid was too low.
whether your assumption is right or wrong, it is immaterial. the statement conveyed an entirely wrong message to the market. i've already mentioned that this is not only about procedural justice, but a communication failure.
phantom_opera
27-04-12, 10:27
Aiya, garmen sent many signals to the market that they are pro-inflation:
1. They keep shouting let SGD appreciate slowly ... well ... it is indeed very slow .. like a turtle
2. Cost of car forms a big portion of inflation ... why COE still sky-rocketing ... minister said economic growth ... fantastic August cut further quota, up again, inflation up to 6% this year nice ... taxi fare going up soon mark my words
3. They encourage CAPL/FCT to buy up so many malls all over Singapore ... and they never build hawker centers in past 10+ donkey years ... every year CAPL / CT will declare to their tenants rental growth of at least 6% ... tenants have no way to go because everywhere is FCT/CAPL ... and HDB will peg their rental to the malls (see that Punggol 560sqft clinic at HDB commanding 32k per month rental??) ... :doh:
4. Why garmen suddenly wake up to build childcare centers?? That is because they realize childcare cost has become too high due to supply shortage ... again whose fault is that? This will contribute to cost/inflation too
5. Salary of bus driver, doctors, nurses up every year, doctors probably up like 10% annually ... tell me where inflation comes from man ...fat fat bonus for civil servants again this year
What is disgusting is MAS/MTI said concerned about inflation every year since 2007 .. well it has been 5 years ... where is the action?
Brudder, you got it!
Inflation will be high for the next few years almost guranteed.
Oil/Transport/COE/wages of healthcare, social workers, bus-drivers all up.
All get salary increases?! Then I also want more! So who get less?
Civil servants must be kept happy - they are the swing vote for the incumbent govt. So perks/bonuses all must be maintained/increased.
Aiya, garmen sent many signals to the market that they are pro-inflation:
1. They keep shouting let SGD appreciate slowly ... well ... it is indeed very slow .. like a turtle
2. Cost of car forms a big portion of inflation ... why COE still sky-rocketing ... minister said economic growth ... fantastic August cut further quota, up again, inflation up to 6% this year nice ... taxi fare going up soon mark my words
3. They encourage CAPL/FCT to buy up so many malls all over Singapore ... and they never build hawker centers in past 10+ donkey years ... every year CAPL / CT will declare to their tenants rental growth of at least 6% ... tenants have no way to go because everywhere is FCT/CAPL ... and HDB will peg their rental to the malls (see that Punggol 560sqft clinic at HDB commanding 32k per month rental??) ... :doh:
4. Why garmen suddenly wake up to build childcare centers?? That is because they realize childcare cost has become too high due to supply shortage ... again whose fault is that? This will contribute to cost/inflation too
5. Salary of bus driver, doctors, nurses up every year, doctors probably up like 10% annually ... tell me where inflation comes from man ...fat fat bonus for civil servants again this year
What is disgusting is MAS/MTI said concerned about inflation every year since 2007 .. well it has been 5 years ... where is the action?
What is disgusting is MAS/MTI said concerned about inflation every year since 2007 .. well it has been 5 years ... where is the action?
the current batch of MAS scholars probably all studied under Paul Krugman in Princeton ;)
phantom_opera
27-04-12, 11:10
the current batch of MAS scholars probably all studied under Paul Krugman in Princeton
M3 as published by MAS:
2005
Mar 215,731.6
2012
Feb 453,465
> 100% growth since 2005 :scared-1:
Aiya, garmen sent many signals to the market that they are pro-inflation:
1. They keep shouting let SGD appreciate slowly ... well ... it is indeed very slow .. like a turtle
2. Cost of car forms a big portion of inflation ... why COE still sky-rocketing ... minister said economic growth ... fantastic August cut further quota, up again, inflation up to 6% this year nice ... taxi fare going up soon mark my words
3. They encourage CAPL/FCT to buy up so many malls all over Singapore ... and they never build hawker centers in past 10+ donkey years ... every year CAPL / CT will declare to their tenants rental growth of at least 6% ... tenants have no way to go because everywhere is FCT/CAPL ... and HDB will peg their rental to the malls (see that Punggol 560sqft clinic at HDB commanding 32k per month rental??) ... :doh:
4. Why garmen suddenly wake up to build childcare centers?? That is because they realize childcare cost has become too high due to supply shortage ... again whose fault is that? This will contribute to cost/inflation too
5. Salary of bus driver, doctors, nurses up every year, doctors probably up like 10% annually ... tell me where inflation comes from man ...fat fat bonus for civil servants again this year
What is disgusting is MAS/MTI said concerned about inflation every year since 2007 .. well it has been 5 years ... where is the action?
no action, only hypocrisy. why does HDB need to charge 32k/mth for a clinic rental?
another example closer to time, electric tariffs are going up again despite the price of natural gas coming down in a slump.
WTF!!!
M3 as published by MAS:
2005
Mar 215,731.6
2012
Feb 453,465
> 100% growth since 2005 :scared-1:
must things have doubled in dollar value in the same period no?
phantom_opera
28-04-12, 11:40
must things have doubled in dollar value in the same period no?
M3 growth minus GDP growth roughly = inflation
Tuesday, February 7, 2012
Pay Hike! Pay Hike!
The Public Services Division implemented a 5 to 15 percent pay hike for civil servants "where their salaries needed adjustment to remain competitive and keep pace with the private sector." The XO sauce,oops, MX grade, officers who are benefiting from this benchmarking exercise are:
MX11 and 12 grades - young officers to middle managers drawing $3,000 to $7,000 - get 10 percent;
MX10 and "just below 9" - deputy director types drawing $6,000 to $10,000 - get 5 percent;
MX9 grades - those drawing above $11,000 - no adjustment needed since they are already getting private sector salaries for doing public sector work
phantom_opera
28-04-12, 16:54
A classic inflation expectation translates into wage demand feeding each other
Raise 10% of pay but raise COE to 100k...
Tuesday, February 7, 2012
Pay Hike! Pay Hike!
The Public Services Division implemented a 5 to 15 percent pay hike for civil servants "where their salaries needed adjustment to remain competitive and keep pace with the private sector." The XO sauce,oops, MX grade, officers who are benefiting from this benchmarking exercise are:
MX11 and 12 grades - young officers to middle managers drawing $3,000 to $7,000 - get 10 percent;
MX10 and "just below 9" - deputy director types drawing $6,000 to $10,000 - get 5 percent;
MX9 grades - those drawing above $11,000 - no adjustment needed since they are already getting private sector salaries for doing public sector work
now I know why OCR prices approaching CCR price.
CCR price increase by 5%
OCR price increase by 10%.
now I know why OCR prices approaching CCR price.
CCR price increase by 5%
OCR price increase by 10%.
many of these servants have bought earlier..
This is a fantastic project to buy: near MRT, amenities, freehold, 5 mins drive to town via nicoll highway.
This is a fantastic project to buy: near MRT, amenities, freehold, 5 mins drive to town via nicoll highway.
it is already sold out! move on :D:cheers5:
bargain hunter
02-05-12, 20:21
http://info.sgx.com/webcoranncatth.n...df?openelement (http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_CCCE55C17402D1C7482579F00037AC45/$file/KatongRegency.pdf?openelement)
#11-10 936 sq ft $1,396,000 1491psf
#10-13 936 sq ft $1,389,000 1484psf
Wow! The fastest sell out project for 2012! :scared-3:
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