View Full Version : TODAY: Singapore's north-east 'at risk of housing oversupply'
anythingwhatever
28-06-12, 16:24
16,000 private residential units to come on-stream in Punggol, Sengkang, Pasir Ris: Analysts
by Lynda Hong (http://www.todayonline.com/Business/Property/EDC120628-0000062/Singapores-north-east-at-risk-of-housing-oversupply)
04:46 AM Jun 28, 2012 (http://www.todayonline.com/Business/Property/EDC120628-0000062/Singapores-north-east-at-risk-of-housing-oversupply)
SINGAPORE - A housing oversupply looms over the north-east district, with market watchers expecting about 16,000 private residential units (including executive condominiums) to come on-stream in Punggol, Sengkang and Pasir Ris over the next five to six years.
Later this year, developers are expected to bid for four sites in the north-east that are expected to yield some 2,000 executive condominium units.
This will add to the 3,295 units from sites released in the area by the government in the first half of the year.
"The north-east is now most at risk of an oversupply. When taken together with HDB flats, the total number of units plus, potentially, a lack of demand from expats … and, in future, relatively weaker rental value … In the next three to five years, these risks will start to show," said Mr Ku Swee Yong, CEO of International Property Advisor.
Despite this, experts predict that a well-located site will see eight to 10 bids.
"Pricing will be competitive in Punggol and Pasir Ris," said Mr Alan Cheong, research head of Savills Singapore. "There will be a bit of competition among developers but prices will remain competitively stable."
TheOnlyGayInTheVillage
28-06-12, 17:01
i have questioned the rationale of buying projects such as wtt for investment from day one. now with everyone wanting a share of the action, it can only get worse.
i have questioned the rationale of buying projects such as wtt for investment from day one. now with everyone wanting a share of the action, it can only get worse.
Erm.... wtt is where? :o
i have questioned the rationale of buying projects such as wtt for investment from day one. now with everyone wanting a share of the action, it can only get worse.
u think u r smarter than watertown buyers?:)
brick and mortar investment cannot go wrong whether north south east west....every area got sucess story....punggol is going to be the venice of singapore beautiful meandering river flowing with link to coney island...going to be the envy of many other new towns.....FOR THE SAKE OF THOSE THAT PAID MORE THAN 1000PSF for their apts i PRAY SO....:cool:
brick and mortar investment cannot go wrong whether north south east west....every area got sucess story....punggol is going to be the venice of singapore beautiful meandering river flowing with link to coney island...going to be the envy of many other new towns.....FOR THE SAKE OF THOSE THAT PAID MORE THAN 1000PSF for their apts i PRAY SO....:cool:
longkang of singapore..:D
phantom_opera
28-06-12, 20:39
Don't pray pray, Watertown, ATT and Parc Centros will form future St Mark Square :rolleyes:
http://www.popartuk.com/g/l/lg1005+piazza-san-marco-venice-italy-mark-segal-slim-print.jpg
http://images.nationalgeographic.com/wpf/media-live/photos/000/026/cache/venice-san-marco_2693_600x450.jpg
Don't pray pray, Watertown, ATT and Parc Centros will form future St Mark Square :rolleyes:
http://www.popartuk.com/g/l/lg1005+piazza-san-marco-venice-italy-mark-segal-slim-print.jpg
http://images.nationalgeographic.com/wpf/media-live/photos/000/026/cache/venice-san-marco_2693_600x450.jpg
says who phua chu kang...:D
bakasa2002
28-06-12, 22:57
WT being a integrated proj is relatively shield from large price drop as compared to others I suppose. I heard if u were in the vvip phase, buyers actually got their units at about 1050psf. Not too bad, cos Bedok residences is 1300psf, right?
WT being a integrated proj is relatively shield from large price drop as compared to others I suppose. I heard if u were in the vvip phase, buyers actually got their units at about 1050psf. Not too bad, cos Bedok residences is 1300psf, right?
10 years time we will know whether its a good buy...:D
Been telling people NE oversupply big time.... maybe analysts visit our forum and write this report.
Been telling people NE oversupply big time.... maybe analysts visit our forum and write this report.
We are all in same boat..do you think NE 700psf and rest of singapore 1200psf?
All will rise and fall together..if NE goes 700psf..rest of OCR at best would be 800psf else everyone buys at NE :tongue3:
Erm.... wtt is where? :o
next to wtf....:D:D:D
wtt=water town
We are all in same boat..do you think NE 700psf and rest of singapore 1200psf?
All will rise and fall together..if NE goes 700psf..rest of OCR at best would be 800psf else everyone buys at NE :tongue3:
no offence but i dont think this is correct. pricing is very much dependent on demand and supply. if developer start to reduce their price and if demand start to built up, then of course, there will be a equilibrium and thus stability will be reached. But if there is so many developers reducing price just because of intense competition from next door project, and if supply is more than demand, there will be a period that it will be remain lower than the nearby town and if nobody is attracted to the low price, it can stay there for a while. if CCK is now at 800psf, and if LCK is launched at 500psf, will you be attracted to it and buy there when u know there is still nothing there for the next few years?? :D just for eg....
my opinin. :o
BOTTOM line as along as HDB prices form a BASELINE and dont drop....NOTHING will drop....:cool:
no ofence to those who stay in Punggol, Paris Ris but i think the recent land sales had really put a lot of pressure on the pricing in these estates. Ppl mostly buy for own stay and i think majority are upgraders...pardon me if Im wrong as I think I read somewhere.
On the other hand, it is hard for ppl outside the estate to invest there as there aren't much pull factors for rental market. This is quite dangerous as well when projects start to TOP in 2014/2015 whereby there will be a huge supply of HDBs for rental, imagine if those upgraders decided to rent out their HDB. :o
nice environment but that's only part of the consideration...
my opinion...:2cents:
next to wtf....:D:D:D
wtt=water town
HAHAHA!!:D:D:D
no ofence to those who stay in Punggol, Paris Ris but i think the recent land sales had really put a lot of pressure on the pricing in these estates. Ppl mostly buy for own stay and i think majority are upgraders...pardon me if Im wrong as I think I read somewhere.
On the other hand, it is hard for ppl outside the estate to invest there as there aren't much pull factors for rental market. This is quite dangerous as well when projects start to TOP in 2014/2015 whereby there will be a huge supply of HDBs for rental, imagine if those upgraders decided to rent out their HDB. :o
nice environment but that's only part of the consideration...
my opinion...:2cents:
just like share market uncle/aunty/university student start to play even they dont know head or tail about share investing...same thing happening in the property market....god bless...:cool:
just like share market uncle/aunty/university student start to play even they dont know head or tail about share investing...same thing happening in the property market....god bless...:cool:
doesnt help that u got CON agents at showrooms telling people buy buy buy this place got a lot of rental potential....when i viewing seastrand they say that i view ripple bay they say that....i view sea esta...nevermind...end of day i use my own common sense...there is only 1 airport i business park...u think SO many people to rent on other hand condos coming up like NO tommorow....:doh: ...once again...GOD bless....recently when my tenant break his tenancy and told me sorry but he giving notice to terminate cos he just bought a resale condo....thru friendly chit chat he said he rather pay 2k plus in mortagage than on rental.....after this happen then i also realise the problem is very real...anyway...as long as buyers know what they doing should be ok i guess....:cool:
TheOnlyGayInTheVillage
29-06-12, 14:38
next to wtf....:D:D:D
wtt=water town
i think wth is nearer...
Wild Falcon
29-06-12, 17:00
Wow. 16,000, units coming up is a lot leh. Didn't know it is that bad. and rental in NE is one of the worst - there is actually higher rental demand in the west part of SG with most projects in the west and NW fetching the best rental yields. I guess the govt's intention to build up the entire northeast area to the brim until the shoreline and keep the northwest area as natural and pristine as possible. The equivalent of Punggol in the northwest (Kranji farms and Sungei Buloh?) is likely to be conserved as farmlands and nature areas. Even a small development at Dairy Farm (central northwest) kena complained by the residents.
Wow. 16,000, units coming up is a lot leh. Didn't know it is that bad. and rental in NE is one of the worst - there is actually higher rental demand in the west part of SG with most projects in the west and NW fetching the best rental yields. I guess the govt's intention to build up the entire northeast area to the brim until the shoreline and keep the northwest area as natural and pristine as possible. The equivalent of Punggol in the northwest (Kranji farms and Sungei Buloh?) is likely to be conserved as farmlands and nature areas. Even a small development at Dairy Farm (central northwest) kena complained by the residents.
u forgot the seletar aerospace park...the FUTURE is there...:cool:
Wow. 16,000, units coming up is a lot leh. Didn't know it is that bad. and rental in NE is one of the worst - there is actually higher rental demand in the west part of SG with most projects in the west and NW fetching the best rental yields. I guess the govt's intention to build up the entire northeast area to the brim until the shoreline and keep the northwest area as natural and pristine as possible. The equivalent of Punggol in the northwest (Kranji farms and Sungei Buloh?) is likely to be conserved as farmlands and nature areas. Even a small development at Dairy Farm (central northwest) kena complained by the residents.
LCK is also another area that will be develop into a local attraction...
Another thing to note is, when I ask around my colleagues and friends, most younger gen when they start their family, they prefer Punggol or Pasir Ris, maybe there are a lot of new hdbs... but as they grow and would want to upgrade to private, many many will be selling their hdbs. So is like there will be a lot of ppl selling down the road and I would think, there will be a lot of pressure on the pricing. Even if it rises, it will be limited. Now whatever the new flats available it is being taken up so this situation will be opposite in say 5 to 10 yrs time when more are qualify to sell and upgrade. In these estates, maybe out of 10 families, 7-8 are young....Younger gen tend to be more mobile....and the situation is quite opp in those mature estates like AMK, Jurong, etc.
In conclusion, not just private condos, many hdbs will also be available in next few years especially in NE...
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