Park Infinia (D11, Freehold, Keppel Homes)

[ryan]

Visited the showroom over the weekend. It was marvellous, huge plot of land. The only peeve I have with this place is the number of units (486), but given that most people who bought this condo are foreigners, I don't forsee that as a problem. You won't get locals running around making noise and hanging their laundry in the balconies.

[Unregistered]

Now, prices for park infinia has gone up by $100-$200psf

[interested]

What's up with this though... if it is selling well how come it is still advertising every weekend?

[newton_man]

see here!


http://forums.condosingapore.com/showthread.php?t=198

[Unregistered]

Show flats have closed since 2006, waiting to relaunch at $1,400 psf!!! Those who got choice units at $8xx psf stand to make a profit of almost a million $.

[teeceelee]

really ah? wow! my auditor told me last week that newton prices will peak at 1700-1800psf during the first year after the opening of the IRs, i told him i don't think so but he say just wait and see lah!

[Unregistered]

What has Newton got to do with the IRs? If anything, Newton prices should be following the Orchard Rd boom prices as Newton is just outside Orchard.

[teeceelee]

:) Yes you are right. Also I guessed what he speculated on was the effect the 'post-openings' of the IRs have on the property market; and in this case, on Newton psf prices.

[hehe]

:) Yes you are right. Also I guessed what he speculated on was the effect the 'post-openings' of the IRs have on the property market; and in this case, on Newton psf prices.

I think the IRs will have a positive effect on all properties in the central area... i think even places like City Square and One Leicester will benefit.

[Intrepid Explorer 2.0]

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[Intrepid Explorer 2.0]

The stand alone tower there is not part of Park Infinia, is it?:confused:

[Unregistered]

The stand alone tower there is not part of Park Infinia, is it?:confused:

i don't think so. i think it is another project called "Suffolk Premier".

[Park Infinia owner]

Thanks IE for the updates! Park Infinia construction is coming along very nicely :)

[PI owner 2]

http://img256.imageshack.us/img256/5919/pisitedf9.jpg

Above is the site plan. FYI, that standalone tower is actually block 2, stacks 1, 2 and 3.

[another PI owner :)]

When are they going to re-launch this? Quite a few agents gave vague and non-committal answers.

[Unregistered]

i don't think so. i think it is another project called "Suffolk Premier".

no lah. it is part of PI.

[Unregistered]

Rumours say PI re launching end of March. What price? depending on who to believe....

[ahlahdin]

Rumour has it: $1,400psf to $1,500psf :scared-5:

Well it IS a bargain compared to the Cairnhill properties across the road, so maybe it will still sell out after all.:scared-3:

[Unregistered]

Excellent development by a reputable developer! Full condo facilities, near MRTs, near supermarkets, near Orchard Road, near everything! All for less than half the price of a Orchard condo. What more can we ask for?

[Odnoc]

Wow, I'm impressed by the land size! Not many of that around! But may I ask, how do you guys feel about facing a monsoon drain?

I recall 2 years ago when I went to check out The Linear somewhere up NorthWest partly because the advert said river facing, it turned out to be a big huge concrete drain much like this Park Infinia one. Hence it is marketed as a plus point but I don't know, I'm not so convinced because a drain is just not a river! Unless it's something like the one near Commonwealth (I recall near Freesia Woods condo) which is a drain but had lots of grassland on the bank it looks quite like a river.

What do you guys think? Do buyers really go for the 'river-facing' drill? Any issue on smell and mosquitoes? Thanks.

[facing the green]

I believe only a fraction of the entire development faces the drain. If you HAVE to face the drain, then get a mid to high floor! :)




Wow, I'm impressed by the land size! Not many of that around! But may I ask, how do you guys feel about facing a monsoon drain?

I recall 2 years ago when I went to check out The Linear somewhere up NorthWest partly because the advert said river facing, it turned out to be a big huge concrete drain much like this Park Infinia one. Hence it is marketed as a plus point but I don't know, I'm not so convinced because a drain is just not a river! Unless it's something like the one near Commonwealth (I recall near Freesia Woods condo) which is a drain but had lots of grassland on the bank it looks quite like a river.

What do you guys think? Do buyers really go for the 'river-facing' drill? Any issue on smell and mosquitoes? Thanks.

[Unregistered]

Boy, it's really screwed Lincoln Modern

[Lusting after Lincoln]

Let's just say that Lincoln Modern was in a position to be screwed even in the beginning. It was the bitch of the bunch. Every time a new condo comes up next to it or in front/behind it, its price drops another $100 psf.

I am just waiting for the Iridium building to go up and then i can acquire the remaining units at Lincoln Modern cheaply (maybe $700 psf? Hope hope) to rent out. By that time you won't even see sunlight hitting Lincoln Modern. ;) Truth be told, it is still a very very very high quality development. So I will buy it for investment, just because of its quality.

Anyway no great loss to SC Global. They would have broken even on their investment by selling only 40% of their units. or even less.

[Unregistered]

Let's just say that Lincoln Modern was in a position to be screwed even in the beginning. It was the bitch of the bunch. Every time a new condo comes up next to it or in front/behind it, its price drops another $100 psf.

I am just waiting for the Iridium building to go up and then i can acquire the remaining units at Lincoln Modern cheaply (maybe $700 psf? Hope hope) to rent out. By that time you won't even see sunlight hitting Lincoln Modern. ;) Truth be told, it is still a very very very high quality development. So I will buy it for investment, just because of its quality.

Anyway no great loss to SC Global. They would have broken even on their investment by selling only 40% of their units. or even less.
Agreed, lincoln modern will go cheaply due to left right centre blockage.

[Unregistered]

Agreed, lincoln modern will go cheaply due to left right centre blockage.

In that case, I will seriously consider it cos i am buying to stay. I went to view the showloft. Very very nice to live in.

[DRSG]

Let's just say that Lincoln Modern was in a position to be screwed even in the beginning. It was the bitch of the bunch. Every time a new condo comes up next to it or in front/behind it, its price drops another $100 psf.

I am just waiting for the Iridium building to go up and then i can acquire the remaining units at Lincoln Modern cheaply (maybe $700 psf? Hope hope) to rent out. By that time you won't even see sunlight hitting Lincoln Modern. ;) Truth be told, it is still a very very very high quality development. So I will buy it for investment, just because of its quality.

Anyway no great loss to SC Global. They would have broken even on their investment by selling only 40% of their units. or even less.


Whoa!Position to be screwed,bitch.Suggestive language.LM rumoured to be gai place.

[PI fan]

While I feel sorry for those blocked by PI, let's talk about PI instead. Any idea when the Viva condo by Allgreen will launch? Will it block PI?

[Unregistered]

Sorry, last LM post.

I've seen LM owners asking for $1400 psf these days. So don't know if and when it will go to $950 or even $700.

Ah, what fun speculative bubbles are.

[ahlahdin]

Whoa!Position to be screwed,bitch.Suggestive language.LM rumoured to be gai place.

What is 'gai'? :confused: You mean gay? :D

[Unregistered]

Let's avoid the homophobia please.

[gay rules!!!]

Gays in singapore are rich loh! i am also gay loh! you scared we fcuk your backside is it? Come to lincoln modern and i will give you a first hand experience. I blow u until u cum, then fcuk your asshole until u cum again.

[PI owner]

I have been told by the agent over the weekend that Park Infinia last phase is launching soon at above $1400 psf. This is very good news for all PI owners.

[Unregistered]

I have been told by the agent over the weekend that Park Infinia last phase is launching soon at above $1400 psf. This is very good news for all PI owners.

when is soon?

[teeceelee]

haha! good question!

[Unregistered]

So? Nobody knows when they re launching? Damn.. they are always taking their time with things. Like not in a hurry to sell: the mark of a good developer! :D

[grab while u still can]

1300-1400 for those with not so good facing and 1500-1600 for those with better facing.

19th May re-launch!!!

See you there.

[beavis]

Do you konw why they re-launch??

Guess what?? Residences @ Avelyn just subsale for above $2000 psf.:scared-1:
I just check the URA.

That would be a New Record for newton I think.

[Unregistered]

I guess you have seen wrongly...

Residences @ Eveyln highest for last mth is $1550 psf.

[not wrong]

I guess you have seen wrongly...

Residences @ Eveyln highest for last mth is $1550 psf.

Yes it is above $2000 psf!!! Check the URA site instead of the condo.com one

[evelyn owner]

wooyoo!! thanks for the info. i just checked URA. it is true. $2000psf! (must be a high floor) cos other caveats done in apr 07 still doing $1550psf. i own a unit at residences @evelyn. i dont like the design but bought it for pri 1 registration cos of 1km to both ACS.was wondering why the price cannot move until i realise newton has no new launches to "benchmark" the price. waiting for the new elmira hts to launch.. ;)

[beavis]

Would URA make a careless typing mistake??:rolleyes: Now I began to think $2000 is way too High.:D

[robinsonscentrepoint]

Residences@Evelyn: yeah it is a typo mistake. Switch the prices with the one next to it and it should make more sense.


Park Infinia: Heard almost all the 3 bedders are gone... 3 of my friends bought one each over the weekend.. not for speculation but to stay in.

The decor is blaaah... seems like Keppel not interested in hiring good interior designer. Same as their Reflections showroom, doesn't look impressive.

However the unit layout are very good and practical use of space. One of the best I have seen. The other one is Rivergate.

I noticed very often condo showrooms will overkill on the ID to cover up any deficiencies in their layout architecture.

This one is open and honest, they don't cover up too much, what you see is more or less what you get. Remember when they hand over the keys, it is to a bare unit...

[robinsonscentrepoint]

Ok, agent called and said there are still some 3 bedrooms left in 2 stacks. From what i remember from the brochure they are either lousy facing or very expensive. Tomorrow they are going to increase prices again for PI. YAYYYY!!!

[evelyn owner]

cheh! made me happy for awhile. ;) anyway newton traditionally trades on par with river valley so i wouldnt think it'd be higher than $1700psf.. unless scotts tower launches at $5000psf!

btw i think infinia is a good buy- much better than Lincoln modern which now has totally covered views of Infinia's backside!

[Unregistered]

cheh! made me happy for awhile. ;) anyway newton traditionally trades on par with river valley so i wouldnt think it'd be higher than $1700psf.. unless scotts tower launches at $5000psf!

btw i think infinia is a good buy- much better than Lincoln modern which now has totally covered views of Infinia's backside!

Happy for a while is good for health ahahah.

Do you realise that eversince the Thai tycoon bought the whole cairnhill building for $2500 psf now the average launch price for new dev around prime area like are above $2500? This year property market is the hottest ever.

I dont surprise if Orchard tower will launch at above $4000-$5000 psf buddy.

[obvious]

Any launches in Newton after Park Infinia will be in the $1800 psf to $2000 psf region.

A year or two later, when the new launches of recently en-bloc Elmira Heights and Gilstead View come, it will be above $2000 psf, closer to $2500 psf.

There are no 2 ways about it: Elmira Heights and Gilstead View's break even price is around the $1600 psf region. Developers will have to launch at $2000 psf.

[Unregistered]

Any launches in Newton after Park Infinia will be in the $1800 psf to $2000 psf region.

A year or two later, when the new launches of recently en-bloc Elmira Heights and Gilstead View come, it will be above $2000 psf, closer to $2500 psf.

There are no 2 ways about it: Elmira Heights and Gilstead View's break even price is around the $1600 psf region. Developers will have to launch at $2000 psf.
no offence... but aren't you being overly optimistic?

[Unregistered]

I am looking for a condo. Need suggestions from forumers here.

My budget is below $900 psf 3 rooms and located in D9, 10 or 11

Should have the following facilities:

1. Private lift
2. swimming pool
3. tenis court
4. gym
5. high floor.

Any recommendations from you guys??

[evelyn owner]

For $900psf in D9/10/11 difficult to get new projects. Even old ones at the fringe of D11 are calling $1000-1100psf (eg Maplewoods or D10 Ridgewood). I suggest looking at Pandan Valley (D10) around $800psf but no high floor.

The shortage of new condos is quite acute. There's also a rental homes shortage as more n more old condos go en-bloc. This supply squeeze is the reason why prices go up by the month!

[baffled]

If those old ones at the edge of D10 which is Clementi and D11 which is Bukit Timah are asking $1100 psf, I don't see why a brand new Park Infinia at $1300 psf is expensive. I dunno man.... sometimes the pricing really baffles me.

[Unregistered]

if u can get Infinia at 1300psf u shld grab with both hands. Newton/Novena has not had new launches to set the area's new benchmark hence the "low" price.but i heard Duchess Residences is going to launch at 1500-1600psf and Cascadia at 1300psf so definitely Newton/Novena prices will go up above that.

Traditionally, Novena,Bkt Timah & Mt Sinai are same price.
River Valley & Newton same price
Leonie & Cairnhill same price

[Unregistered]

if u can get Infinia at 1300psf u shld grab with both hands. Newton/Novena has not had new launches to set the area's new benchmark hence the "low" price.but i heard Duchess Residences is going to launch at 1500-1600psf and Cascadia at 1300psf so definitely Newton/Novena prices will go up above that.

Traditionally, Novena,Bkt Timah & Mt Sinai are same price.
River Valley & Newton same price
Leonie & Cairnhill same price

are there still good units left at around 1300psf?

[Unregistered]

if u can get Infinia at 1300psf u shld grab with both hands. Newton/Novena has not had new launches to set the area's new benchmark hence the "low" price.but i heard Duchess Residences is going to launch at 1500-1600psf and Cascadia at 1300psf so definitely Newton/Novena prices will go up above that.

Traditionally, Novena,Bkt Timah & Mt Sinai are same price.
River Valley & Newton same price
Leonie & Cairnhill same price

how is stevens road, balmoral road, anderson road areas compared with newton area? which has better potential?

[beavis]

cheh! made me happy for awhile. ;) anyway newton traditionally trades on par with river valley so i wouldnt think it'd be higher than $1700psf.. unless scotts tower launches at $5000psf!

btw i think infinia is a good buy- much better than Lincoln modern which now has totally covered views of Infinia's backside!


Another Good news for you avelyn owner.
You think never be higher than $1700?? Guess what!!!

Latest URA coveats for RESIDENCE@EVELYN is $4000000 transaction for a 2250 sf condo.
That means it is $1777. Not 2000 though but closing:D . Go check it out. Congratulation buddy!!!

[evelyn owner]

Hurray!!!! and to think URA is 8 weeks late right? (fingers crossed)

my order of rank:
1. Anderson Rd ($2000 Avalon- $2500psf near Ardmore)
2. Balmoral ($1800-2000)
3. Newton ($1500-1800)
4. Stevens ( Equatorial at $1200psf to Solitaire $1800)

i heard Leonie, Cairnhill, Grange new condos are all alunching at >$3000psf!!!!

[Unregistered]

Hurray!!!! and to think URA is 8 weeks late right? (fingers crossed)

my order of rank:
1. Anderson Rd ($2000 Avalon- $2500psf near Ardmore)
2. Balmoral ($1800-2000)
3. Newton ($1500-1800)
4. Stevens ( Equatorial at $1200psf to Solitaire $1800)

i heard Leonie, Cairnhill, Grange new condos are all alunching at >$3000psf!!!!
> 3k psf launching price seems to be only for grange area. leonie and cairnhill still not seeing these prices yet.

[trump]

i m going for soft launch at leonie parkview today. lowest price $3100psf. cairnhill has no new launches yet so cant judge whether developers hv raised prices but i m sure they will. watch helios by wing tai.

there are no more condos left in the prime area. tribeca has 20 units thats abt it.the rest are sold out hence the tight supply.

[beavis]

i m going for soft launch at leonie parkview today. lowest price $3100psf. cairnhill has no new launches yet so cant judge whether developers hv raised prices but i m sure they will. watch helios by wing tai.

there are no more condos left in the prime area. tribeca has 20 units thats abt it.the rest are sold out hence the tight supply.


St Regis just Broke Another record by selling above $4600 on the latest coveats. It beats the $4200 record by parkview eclat in JUST one week. It is a $28 million deal :scared-4: . I wonder who bought this unit. I never realise actually there are so many rich people in this world. May be a rich man from ARAB bought this unit :D :D .If you see a new launch around Dist 9 and 10. I think most of it will be above $3000 psf because so many record broken especialy this May.

[Unregistered]

i m going for soft launch at leonie parkview today. lowest price $3100psf. cairnhill has no new launches yet so cant judge whether developers hv raised prices but i m sure they will. watch helios by wing tai.

there are no more condos left in the prime area. tribeca has 20 units thats abt it.the rest are sold out hence the tight supply.

cityvista at cairnhill is quietly selling from 2.4k psf. helios and hilltop will be interesting though. i am waiting excitedly for these to launch as i have vested interest in this area.

does anyone have any idea what happened to char yong garden's enbloc? ended quite a long time ago, and no update on it. and do you guys think elizabeth heights en-bloc will go through? the cairnhill area is going to be a construction dump, since hillcourt and silver tower are gone as well.

[Unregistered]

Hurray!!!! and to think URA is 8 weeks late right? (fingers crossed)

my order of rank:
1. Anderson Rd ($2000 Avalon- $2500psf near Ardmore)
2. Balmoral ($1800-2000)
3. Newton ($1500-1800)
4. Stevens ( Equatorial at $1200psf to Solitaire $1800)

i heard Leonie, Cairnhill, Grange new condos are all alunching at >$3000psf!!!!

personally, i cannot decide which is better.... newton or balmoral. i suppose the bukit timah end of balmoral will not be as good as newton while the anderson end of balmoral should be considered more prime?

i think solitaire has hit 2k while avalon is nowhere near.

[beavis]

cityvista at cairnhill is quietly selling from 2.4k psf. helios and hilltop will be interesting though. i am waiting excitedly for these to launch as i have vested interest in this area.

does anyone have any idea what happened to char yong garden's enbloc? ended quite a long time ago, and no update on it. and do you guys think elizabeth heights en-bloc will go through? the cairnhill area is going to be a construction dump, since hillcourt and silver tower are gone as well.


Helios and Hilltop will definitely going for $3000 and above because leonie parkview is selling $2800 and already sold 18 out of 20. The developers are going to take this reason under consideration. And we know that Hilltop and helios are going to be Super luxury.

[insider]

Deals transacted will only be recorded by URA after buyers' conveyancing lawyers place caveats on properties purchased. There is usually a time gap of 2-3 months before they appear for public scrutiny.

For instance last week, 26-08 and 27-07 Park Infinia, 1442 sq ft 3 bedroom apartments were transacted at $1715 and $1720 psf respectively, and by the time public come to know, another new benchmark in this rising market would have been established.

[Unregistered]

is 1450psf still considered worthwhile to fork out for park infinia given the uncertain cirmcumstances facing us now?

[Unregistered]

is 1450psf still considered worthwhile to fork out for park infinia given the uncertain cirmcumstances facing us now?


Are you sure you can get a unit at this price? If you find one let me know please.

But facing must be good & at least above 10 storeys.

[Unregistered]

Are you sure you can get a unit at this price? If you find one let me know please.

But facing must be good & at least above 10 storeys.

if you search hard enough, there are units with good facing and of decent height willing to let go under market value. however, such units are hard to come by. just need to be patient and wait. of course must spend lots of time calling up every single agent and leaving your contact number for them to get back to you when a bargain comes along. however, my fear is that even at this price, the buyer will still be sitting on negative equity 3 or 6 months down the road.

[URA]

Private Residential Property Transactions with Caveats Lodged

Project Name ............... Price .......... Floor Area . Price ........ Date Of Option
Park Infinia @ Wee Nam . $2,341,800 . 1,464sqft ... $1,600psf . Jan 08
Park Infinia @ Wee Nam . $1,358,000 .... 893sqft ... $1,520psf . Jan 08
Park Infinia @ Wee Nam . $2,278,360 . 1,442sqft ... $1,580psf . Jan 08
Park Infinia @ Wee Nam . $1,207,000 .... 850sqft ... $1,419psf . Jan 08
Park Infinia @ Wee Nam . $2,064,240 . 1,464sqft ... $1,410psf . Jan 08

[Unregistered]

is 1450psf still considered worthwhile to fork out for park infinia given the uncertain cirmcumstances facing us now?

$1450 should not be a problem at all. You should be aiming for 1300-1350 for ok facing units which should be a possibility in the coming months.

[Unregistered]

$1450 should not be a problem at all. You should be aiming for 1300-1350 for ok facing units which should be a possibility in the coming months.
In fact, you should wait for $1,000psf.
It is possible. Of course, you need to have patience. It will happen.

It is like buying Toto. One day you will strike at least the 2nd price. Of course, you must have patience. It will happen.

[Unregistered]

$1450 should not be a problem at all. You should be aiming for 1300-1350 for ok facing units which should be a possibility in the coming months.

what's considered a fair price for a high floor unit with good facing?

[Unregistered]

I do not think that the price will drop to 1,000 unless the whole world get into a recession in this inflationary environment. The cost of new building will continue to go up with cement, steel, loabour prices on the rise. Average cost per sq feet is around $300, plus the average increase in land cost i.e. average cost in district 11 will be around $700, so you need another developer margins and cost of financing. So breakeven will likely to be at $1,200

[Unregistered]

I do not think that the price will drop to 1,000 unless the whole world get into a recession in this inflationary environment. The cost of new building will continue to go up with cement, steel, loabour prices on the rise. Average cost per sq feet is around $300, plus the average increase in land cost i.e. average cost in district 11 will be around $700, so you need another developer margins and cost of financing. So breakeven will likely to be at $1,200

If it's so difficult to reach $1,000psf, then it will also be difficult to strike Toto 2nd prize.

[Unregistered]

what's considered a fair price for a high floor unit with good facing?

In today's market around 1400psf. But you should be thick skinned and offer 1300psf for such units and do not budge. Call up all the agts marketing PI and tell them 1300psf is your best offer for such a unit. You might be lucky to come across a desperate seller who might just give in at that price (1300psf). It is a buyer's market right now.

[Unregistered]

If it's so difficult to reach $1,000psf, then it will also be difficult to strike Toto 2nd prize.

Everybody knows it is difficult to strike Toto 2nd prize what.

[Unregistered]

Leading Economic Indicators in U.S. Probably Fell in February

By Courtney Schlisserman

March 20 (Bloomberg) -- The index of U.S. leading economic indicators fell for a fifth month in February, reflecting mounting signs that a recession has begun, economists said before a report today.

The Conference Board's gauge, which points to the direction of the economy over the next three to six months, fell 0.3 percent last month, according to the median forecast in a Bloomberg News survey. The last time the index dropped for as many months was in 1990, when the economy was shrinking.

The leading index dropped as building permits, stock prices and consumer sentiment sank and first-time claims for jobless benefits jumped. Federal Reserve policy makers this week said risks to growth remain even after lowering the benchmark interest rate and making billions of dollars available to banks and securities firms to try to stabilize financial markets.

``A losing streak of five months is usually reserved for recessionary periods,'' said Jonathan Basile, an economist at Credit Suisse Holdings in New York. ``Once the labor market cracks, like it did last month, it shows the cycle is starting to turn down.''

The Conference Board, a New York-based non-profit research group, is scheduled to issue the report at 10 a.m. local time. The 58 estimates in the Bloomberg News survey ranged from a 0.7 percent decline to an increase of 0.2 percent.

Reports so far this month signal the leading index will keep falling. A report from the Labor Department due at 8:30 a.m. in Washington is forecast to show that initial jobless claims rose to 360,000 last week, according to the median survey projection.

Rising Claims

Applications for unemployment benefits last month averaged 359,200, compared with 326,500 in January, according to Labor Department figures.

A 10:00 a.m. report from the Fed Bank of Philadelphia is forecast to show manufacturing in the region contracted for a fourth month in March.

Seven of the 10 components of the leading index are known ahead of time: stock prices, jobless claims, building permits, consumer expectations, the yield curve, supplier delivery times and factory hours. The Conference Board estimates the remaining three: new orders for consumer goods, new orders for non-defense capital goods and the money supply.

Building permits for February fell 7.8 percent to an annual pace of 707,000, the lowest level in more than 16 years, the Commerce Department said on March 18.

The Reuters/University of Michigan index of consumer expectations dropped to the lowest level since 1992 last month and a preliminary reading for March, issued last week, showed the measure is still declining.

Spending Cools

Americans are spending less as pessimism grows. AnnTaylor Stores Corp., the clothing retailer geared toward women ages 25 to 55, last week reported a fourth-quarter loss and said same- store sales may decline in 2008.

The deteriorating economy had a ``major impact'' on store traffic, Chief Executive Officer Kay Krill said in a March 14 conference call.

``Downside risks to the economy remain,'' Fed policy makers said in a March 18 statement announcing the central bank lowered its target for the benchmark rate by three-quarters of a point to 2.25 percent. The Fed has cut the rate by three percentage points since September.

On March 16, the central bank also lowered the rate on direct loans to banks and said it will provide up to $30 billion to JPMorgan Chase & Co. to help finance the purchase of Bear Stearns Cos. after a run on the fifth-largest U.S. securities dealer.

More Funding

Less than a week earlier, the Fed said it would make up to $200 billion in Treasuries available through weekly auctions in exchange for other securities that for the first time will include those backed by mortgages issued by private lenders.

Companies are counting on gains overseas as the U.S. economy slows. General Electric Co. Chief Executive Officer Jeffrey Immelt told investors on March 13 that demand for the company's products from infrastructure projects and growth in Europe, Asia and Africa is helping offset any drag from a slump in the U.S.

``I still believe in the strength of the global economy now, but the U.S. consumer is in a tougher patch,'' Immelt said in a forum on the company's Web site.

[Unregistered]

http://l.yimg.com/us.yimg.com/i/us/nws/p/reuters_logo_94.png
Wall Street Jumps as Goldman Sachs and Lehman Brothers Beat Forecasts
Caroline Valetkevitch
Reuters
New York, New York, U.S.
10:25am U.S. ET

http://d.yimg.com/us.yimg.com/p/nm/20080318/2008_03_17t160027_450x303_us_markets_stocks.jpg
Traders work on the floor of the New York Stock Exchange March 17, 2008. - Photo: Brendan McDermid, Reuters

Stocks jumped on Tuesday as stronger-than-expected earnings from Goldman Sachs Group Inc's and Lehman Brothers Holdings Inc provided some reassurance about the ailing financial sector.

All three major indexes were up close to 2%.

Investors also looked forward to what is expected to be a steep interest rate cut from the Federal Reserve's policy-setting committee around 2:15 pm U.S. Eastern Time on Tuesday.

Goldman and Lehman shares jumped in early trading, leading a rebound in financial stocks, which tumbled on Monday after JPMorgan Chase & Co's deal to buy struggling brokerage Bear Stearns at a rock-bottom price. A broker dealer index surged 5.9%.

"Today's a day for good news, with Goldman and Lehman results beating estimates. Right now the focus is that these earnings weren't as bad as they could have been," said Giri Cherukuri, head trader at OakBrook Investments LLC in Lisle, Illinois.

The Dow Jones industrial average rose 231.78 points, or 1.94%, to 12,204.03. The Standard & Poor's 500 Index gained 28.18 points, or 2.21%, to 1,304.78. The Nasdaq Composite Index jumped 44.25 points, or 2.03%, to 2,221.26.

Shares of Fannie Mae and Freddie Mac rose on expectations their regulator will ease restrictions on the government-chartered companies and help them increase spending in the U.S. housing market. Fannie was up 11.8% at $24.86, while Freddie Mac was up 12.3% at $23.15.

Shares of Goldman were up 8.5% at $163.70 while Lehman was up 17% at $37.12 after reporting results that beat Wall Street estimates.

On the Nasdaq, Yahoo Inc shares rose 4.7% to $27.07 after the Internet search company affirmed its outlook for the first quarter and full year.

Interest rate futures show investors are fully pricing in a one percentage-point cut in U.S. short-term rates, which would take the benchmark fed funds target rate down to 2%.

Over the weekend, the Fed made an emergency quarter-point cut to its discount rate to 3.25% and expanded lending to a wider range of big financial firms, in the first such move since the Great Depression of nearly 80 years ago.

Data before the opening on U.S. housing starts was stronger than expected, adding further support to the market.
Goldman, Lehman and whatman!

[Unregistered]

http://www.ap.org/media/images/logo.gif
Morgan Stanley 1Q profit tops estimates
Joe Bel Bruno
Business Writer
Associated Press
Wednesday, 19 March 2008, 4:43 PM U.S. ET

http://d.yimg.com/us.yimg.com/p/nm/20080319/2008_03_19t074425_450x300_us_morganstanley.jpg
The Morgan Stanley headquarters is seen in New York 30 January 2008. - Photo: Shannon Stapleton, Reuters

Morgan Stanley posted better-than-expected quarterly earnings on Wednesday, joining those from two of its rivals and indicating that Wall Street may be getting a better grip on the credit crisis.

The nation's second-largest investment bank was able to parlay aggressive stock and bond trading into offsetting more losses linked to subprime mortgages. Morgan Stanley — like Lehman Brothers and Goldman Sachs on Tuesday — was also able to top Wall Street's reduced expectations by a wide margin.

Morgan Stanley's results came during a tumultuous week. Just a few days earlier, rival Bear Stearns Cos. sold itself at a fire-sale $2 per share price to JPMorgan Chase & Co. in order to avoid declaring bankruptcy. That sent a shockwave through Wall Street as investors wondered if other investment banks might be in the same predicament.

But the strong results from Morgan Stanley, Goldman and Lehman helped assuage fears of a wider meltdown in the financial system — at least for now.

"Fact is, like it or not, this is an inherently risky business where the returns will shift to those willing to take the most leverage," said Jack Ablin, chief investment officer of Harris Private Bank. "Expectations had us in a tailspin."

The earnings results not only helped shares of the investment banks recover from the lows they hit Monday in the aftermath of Bear's sale, but also backed claims by the companies' chief executives that they could take advantage of the market's dislocation.

John Mack, Morgan Stanley's CEO, said the investment house known for its trading prowess "effectively capitalized on market opportunities and aggressively managed our positions." The company had about $2.3 billion worth of write-downs linked to the credit and housing market crisis, but one of its best trading performances in history.

Morgan Stanley wrote down about $9.4 billion during last year's second half. Global banks and brokerages have so far claimed about $200 billion worth of write-downs since last year.

"While many of our businesses are facing challenging market conditions that we expect to continue in the months ahead, we are satisfied with how Morgan Stanley navigated the ongoing market turbulence," Mack said in a statement.

The company said it earned $1.53 billion after preferred dividends, or $1.45 per share, down 42% from $2.66 billion, or $2.17 per share, a year earlier. Revenue fell 17% to $8.3 billion from $10 billion a year earlier.

But the lower results easily topped analysts' expectations for a profit of $1.03 per share on $7.19 billion of revenue, according to Thomson Financial.

Its shares closed up 59 cents at $43.45, following a 17% gain in Tuesday's market rally.

Morgan Stanley's institutional securities business — which includes investment banking and trading — posted $6.2 billion of revenue. The results marked the division's third-best quarter ever.

Meanwhile, volatility in the bond market pushed fixed-income sales and trading revenue to their second-best showing with $2.9 billion of revenue.

Though offset by mortgage write-downs, Morgan Stanley relied on robust commodities and currency markets to drive results.

"We believe (Goldman and Morgan Stanley) have shown their ability to trade challenging markets this quarter," said Roger Freeman, an analyst with Lehman Brothers. "There is hope that the Federal Reserve's aggressiveness will begin to unclog the fixed-income markets. ... This could push the group still higher over the next few sessions."

Goldman Sachs, Lehman and Morgan Stanley said they began to test a new program this week that allows them to borrow directly from the central bank to help improve the financial market's liquidity. On Sunday the Fed gave investment banks permission to borrow from its discount window, which had previously been restricted to commercial banks.

The Fed also cut the rate at which financial institutions borrow at its "discount window" to 2.5 percent from 3.5 percent in two separate actions this week.

Though all seemed to be positive steps for Wall Street, that doesn't mean the concerns about the rest of the year have been alleviated.

The fiscal first-quarter for the three banks ended Feb. 29, before most of the market turbulence that rocked Bear Stearns last week. Investors are also still waiting for Merrill Lynch & Co. to finish its first quarter at the end of the month.

And then there's the biggest worry on investors' minds.

"We remain concerned with the deteriorating economy and its impact on the results at these firms, despite (the Fed's) aid with near-term funding," said Standard & Poor's equity analyst Matthew Albrecht.
Modern and steady!

[Unregistered]

which stacks in park infinia are worth considering?

[Unregistered]

Before buying this property, one must bear in mind that the Novena area is going to be the next hospital hub. With the Tan Tock Seng Hospital, Ren Ci Hospital, Communicable Disease Center, Novena Hospital and upcoming Raffles Hospital etc etc., there are going to be more than 10 hospitals in the area. I always wonder if it is healthy to be surrounded by sick and diseased people all the time. The smell of death is very real. I would recommend you to look at perhaps Bukit Timah area, at least u get fresher air. But of course if you don't mind the hospital hub area, then go ahead.

Stack 4 and 14 is cheaper, if u not pan tang. Stack 14 quite worthwhile actually.
which stacks in park infinia are worth considering?

[Unregistered]

Before buying this property, one must bear in mind that the Novena area is going to be the next hospital hub. With the Tan Tock Seng Hospital, Ren Ci Hospital, Communicable Disease Center, Novena Hospital and upcoming Raffles Hospital etc etc., there are going to be more than 10 hospitals in the area. I always wonder if it is healthy to be surrounded by sick and diseased people all the time. The smell of death is very real. I would recommend you to look at perhaps Bukit Timah area, at least u get fresher air. But of course if you don't mind the hospital hub area, then go ahead.

Stack 4 and 14 is cheaper, if u not pan tang. Stack 14 quite worthwhile actually.
OK, I will look at stack 14 then. Thanks.

[Unregistered]

OK, I will look at stack 14 then. Thanks.
Smart move.

[Unregistered]

Everybody knows it is difficult to strike Toto 2nd prize what.
Everybody knows it is difficult for PI to reach $1,000psf too.

[Unregistered]

Don't be lazy lah. Just view as many units as you can to find one u like....
OK, I will look at stack 14 then. Thanks.

[Unregistered]

Got an offer of $1000psf for 4 rooms. mid floor. Any seller?

[Unregistered]

Got an offer of $1000psf for 4 rooms. mid floor. Any seller?
No, thanks.

[Unregistered]

Private Residential Property Transactions with Caveats Lodged

Project Name ............... Price .......... Floor Area . Price ........ Date Of Option
Park Infinia @ Wee Nam . $2,341,800 . 1,464sqft ... $1,600psf . Jan 08
Park Infinia @ Wee Nam . $1,358,000 .... 893sqft ... $1,520psf . Jan 08
Park Infinia @ Wee Nam . $2,278,360 . 1,442sqft ... $1,580psf . Jan 08
Park Infinia @ Wee Nam . $1,207,000 .... 850sqft ... $1,419psf . Jan 08
Park Infinia @ Wee Nam . $2,064,240 . 1,464sqft ... $1,410psf . Jan 08
We prefer to transact at market rates.

[Unregistered]

We prefer to transact at market rates.
March Transactions are different.

[Unregistered]

does anyone know if developer is launching the remaining units? any price indication? also, any idea what type of units? thank you!

[Unregistered]

Hi,

Have 3brm unit at stack 12 for sale. 1582sqft. Asking 1550psf neg. Call 96337533 if interested.

Thks.

[Unregistered]

Hi,

Have 3brm unit at stack 12 for sale. 1582sqft. Asking 1550psf neg. Call 96337533 if interested.

Thks.

$1000psf also dont want.

[Unregistered]

I already hv calls from agents saying numerous units letting go at 1300psf and all sound desperate. This one can wait. TOP soon and some of the speculators are clearly panicking.


Hi,

Have 3brm unit at stack 12 for sale. 1582sqft. Asking 1550psf neg. Call 96337533 if interested.

Thks.

[Unregistered]

I already hv calls from agents saying numerous units letting go at 1300psf and all sound desperate. This one can wait. TOP soon and some of the speculators are clearly panicking.

are these 1300psf units good units or the lousy ones?

[Unregistered]

are these 1300psf units good units or the lousy ones?
plenty of good one. Pls help yourself and make your call.
Have several high floor letting go at at $1300. yet not many buy.

[Unregistered]

plenty of good one. Pls help yourself and make your call.
Have several high floor letting go at at $1300. yet not many buy.
Wow. So cheap! Time for me to grab one. Thanks for the tips.

[Unregistered]

Wow. So cheap! Time for me to grab one. Thanks for the tips.
Can desparate agents get out of the forum. Can smell you guys a mile away...

[Unregistered]

$1000psf also dont want.
Can desparate agents get out of the forum. Can smell you guys a mile away...

[Unregistered]

I already hv calls from agents saying numerous units letting go at 1300psf and all sound desperate. This one can wait. TOP soon and some of the speculators are clearly panicking.
Can desparate agents get out of the forum. Can smell you guys a mile away...

[Unregistered]

plenty of good one. Pls help yourself and make your call.
Have several high floor letting go at at $1300. yet not many buy.
Can desparate agents get out of the forum. Can smell you guys a mile away...

[Unregistered]

I already hv calls from agents saying numerous units letting go at 1300psf and all sound desperate. This one can wait. TOP soon and some of the speculators are clearly panicking.
any good units in high floor for stacks 1, 2 or 8 going for 1300psf?

[die lah]

If market conditions continue, PI will drop even further in price.

Lian Beng consortium, Sim Lian, and Allgreen all have vested interest in this area.

Lian Beng's Lincoln Lodge is in a better position than the others as it is not so fenced in, plus it is on a small road right next door to United Square. No view lah but got convenience. They bought at high price so not sure when they will launch.

Sim Lian's plot here quite jialat, right smack in the middle of the crowded estate. What view? Can see the sunlight happy already. But they bought some time ago at low price so they are comfortable if they sell at low price as well.

Allgreen's plot is the best lah, big size land, next to United Square, long prominent frontage along Thomson Rd, facing southeast and Marina Bay. But traffic jam can die leh and United Square multi storey car park right next door. Allgreen bought damn cheap long time ago.

[LEE>]

If market conditions continue, PI will drop even further in price.

Lian Beng consortium, Sim Lian, and Allgreen all have vested interest in this area.

Lian Beng's Lincoln Lodge is in a better position than the others as it is not so fenced in, plus it is on a small road right next door to United Square. No view lah but got convenience. They bought at high price so not sure when they will launch.

Sim Lian's plot here quite jialat, right smack in the middle of the crowded estate. What view? Can see the sunlight happy already. But they bought some time ago at low price so they are comfortable if they sell at low price as well.

Allgreen's plot is the best lah, big size land, next to United Square, long prominent frontage along Thomson Rd, facing southeast and Marina Bay. But traffic jam can die leh and United Square multi storey car park right next door. Allgreen bought damn cheap long time ago.
nice cover up. still got a bit luck just keep pushing!!!

[Unregistered 13 14]

nice cover up. still got a bit luck just keep pushing!!!
#14 -05 #14-05 #14-05 #14-05 #14-05.

#14-05 #14-05 #14-05 #14-05 #14-05

[Unregistered 13 14]

#14 -05 #14-05 #14-05 #14-05 #14-05.

#14-05 #14-05 #14-05 #14-05 #14-05

[Unregistered 13 14]

#14 -05 #14-05 #14-05 #14-05 #14-05.

#14-05 #14-05 #14-05 #14-05 #14-05

[jaded]

how much u asking psf?

[CondoShopper]

I am interested in mid floor units at stack 01 02 08 for my own stay. Do you guys have the floor plans of these stacks as I can't find them in Park Infinia's website? BTW, what's the price range for these stacks? Please let me know if you have units at these stacks for sale. Thanks.

[Unregistered111]

you can find the floorplans at www.singaporeexpats.com site. just look for park infinia condo.

[recent txns?]

does anyone know what are some of the recent transacted prices? which units are these? thank you very much!

[Unregistered_222]

does anyone know what are some of the recent transacted prices? which units are these? thank you very much!

Yesterday's newspaper (classified) showed one unit transacted at 1.73mil for a 1442 sqft unit, this works out to be about $1,200psf. Seems like prices really dropping.........

[kal]

Condos like PI, low floor and high floor can varies few hundreds psf... Those doesnt mind low floor , think 1200-1300psf is reasonable, for high floor , think is 1400psf onwards..

[PI Observer]

Some recent data and observations on Park Infinia:

The 1200psf transaction is for a stack 06 low floor unit which from my understanding, was a result of a foreign investor dumping to lock in what is still a fat profit (purchased at 879psf). The unit has no views whatsoever.

It seems to be that that is a very rare case as all the other transactions are at 1300+ to 1650psf.

The premium stacks of 02, 03, 11 and 12 seems to be commanding a lot more. In April, transactions are 2x-11 at 1610, 2x-02 at 1550 and in Jan 2x-02 at 1600 and 1x-03 at 1580. Subsequent to the much talked about "crash" of 1200psf, another 2x-02 unit was transacted at 1650. The latest caveat also shows a 1599psf transaction for a 3 bedroom apartment which I do not have the unit number.

It seems like units with dual/multiple views command a premium. These stacks are 02 (3 bedrooms): City through Orchard, 03 (3 bedrooms): Marina through Bukit Timah Reserve, 11 (3 bedrooms): City and Bukit Timah Reserve, 12 (4 bedrooms): City and Bukit Timah Reserve.

For 2 bedrooms, there is only one stack which has a dual view of City and Bukit Timah Reserve. That is stack 04 and it is also the only 2 bedroom unit which has a study. There are no transactions for 04 so far in 2008 as I think buyers are not offering high bids due to the larger quantum vs other 2 bedroom units and sellers believe that these units should command a premium due to its views and unique study.

Other recent transactions are: 2x-14 (will be blocked by VIVA) at 1300psf, 2x-05 (west sun) at 1352 and 1x-01 at 1315 in April.

I think for low floors, 1200+ should be a bargain but will need some seller to be desperate enough. 1300+ seems more likely to be done. For above 20 floor, 1400+ seems to be a good price and for those units with good views, probably 1500+ is needed to secure a unit.

[bargain hunter]

Chinaman, you are lost? Go back to China. This is CONDOsingapore.com.

This burnt investor fella seems to be posting this article on many of the other threads as well. Its not relevant but seems to be trying to sound like Singapore market is crashing as well. People are not stupid, no point posting this article all over the place and think that you can talk down the market.

[Unregistered999]

This burnt investor fella seems to be posting this article on many of the other threads as well. Its not relevant but seems to be trying to sound like Singapore market is crashing as well. People are not stupid, no point posting this article all over the place and think that you can talk down the market.

Since u r a bargain hunter, tot it is nice of them to tok down the market for u??

lolzzz

[bargain hunter]

Since u r a bargain hunter, tot it is nice of them to tok down the market for u??

lolzzz

I believe in market fundamentals. I don't believe that people are able to talk down the market. In this well informed internet age, people are more aware of what is going on and are not so easily fooled. The talking down only adds to noise which frustrates me.

I have had bad experiences (yes, even in this quiet market) that I contact agents who put up ads with seemingly irresistable asking 1200psf to 1300psf at Park Infinia, out of which only 1 unit turned out to be true but it was for a low floor unit with road view which I don't desire. The rest of the units never existed. I asked the agents to inform me if there are good deals at 1300psf and below. No one ever did.

I can only wait to see if any such deals will come by in the months ahead or look elswhere.

[pete]

Be patient hunter... your price will come.

[bargain hunter]

Be patient hunter... your price will come.

Thanks Pete. That's what I am doing. Just waiting. The news seems to indicate that buying is rather enthusiastic in other areas. Perhaps a good time to look around at prime now that all the attention is gone from here. :)

[Real Estate Pundit]

Latest caveats for Park Infinia;

Unit #__sqft___$psf__Price________Contract date
15-08__1464__1550__$2,269,200___23 Jul 2008
24-05__1442__1363__$1,965,000___23 Jul 2008
03-13___850__1250__$1,062,500___23 Jul 2008
17-03__1442__1387__$2,000,000___21 Jul 2008
29-11__2002__1520__$3,043,040___12 Jul 2008
25-12__1582__1580__$2,500,000___11 Jul 2008
19-09__1001__1499__$1,500,000___27 Jun 2008
05-01__1464__1460__$2,137,440___26 Jun 2008
23-13___850__1340__$1,139,000___17 Jun 2008
19-06__1442__1345__$1,940,000___13 Jun 2008

[keane]

Seem like prices are still high in Park infinia, keppel homes are re-launching 1-2 bed room units, what price range for 2-bedded? Cheaper to buy from developer?

[bargain hunter]

Seem like prices are still high in Park infinia, keppel homes are re-launching 1-2 bed room units, what price range for 2-bedded? Cheaper to buy from developer?

My sentiments exactly. Park Infinia prices seem to be holding up. On the one hand, I feel that I am right to look to buy a unit at Park Infinia. On the other hand, I can't get a good bargain! My enquiries showed that even after getting some cash rebates, mid floor units are still going from 1400+psf onwards and these are the less desirable leftover units. High floor units with a good view are unlikely to be gotten at below 1500+psf it seems.

[AK47]

From my observation so far, only projects that has high porportion of investor have prices soften. Look around for those projects, you should get a bargain.

For higher owner ocuppied ones, price hardly move.

[oxboy99]

Any studio for sale at 700K?

Not the 4th floor one please.

Serious buyer here. Can write cheque after viewing. :ashamed1:

[Hospital hub]

So many hospitals and another 10 more hospitals under construction. The communicable disease centre also under big expansion. 1-2 hospitals still okay. 20 is too much to bear. If outbreak happens, the people here will be the most exposed. Turn everywhere also smell sick and dead people. hospital hub is not as good residential area and very bad for mental and physical health.


Any studio for sale at 700K?

Not the 4th floor one please.

Serious buyer here. Can write cheque after viewing. :ashamed1:

[bargain hunter]

So many hospitals and another 10 more hospitals under construction. The communicable disease centre also under big expansion. 1-2 hospitals still okay. 20 is too much to bear. If outbreak happens, the people here will be the most exposed. Turn everywhere also smell sick and dead people. hospital hub is not as good residential area and very bad for mental and physical health.

I don't think your concerns are very relevant for Park Infinia which is on the other side of Novena and more towards the Newton side.

Your concerns are more valid for Soleil at Sinaran and those developments on the other side of Novena MRT. Just a curious question, are there really 10 or 20 hospitals? I didn't know there would be so many. I thought there would only be 2 or 3 more hospital/medical suites (which are not exactly hospitals).

[novena=hospital hub]

novena=hospital hub=bad feng shui
I don't think your concerns are very relevant for Park Infinia which is on the other side of Novena and more towards the Newton side.

Your concerns are more valid for Soleil at Sinaran and those developments on the other side of Novena MRT. Just a curious question, are there really 10 or 20 hospitals? I didn't know there would be so many. I thought there would only be 2 or 3 more hospital/medical suites (which are not exactly hospitals).

[pity]

novena=hospital hub=bad feng shui
only stupid chinese like you are thinking that.

[hospital land]

I don't think it is a fengshui thing. It is common sense. Not many people like to stay near ground zero during an outbreak. Also, just imagine turn left turn right you see hospitals and sick and or dying people and grieving relatives. It can be bad for health. There should be 6 large ones and still counting - Tan Tock Seng, Renci Hospital, Raffles Hospital, Novena Hospital, Communicable Disease Center, Parkway etc. and numerous smaller ones like John Hopkins Hospital. That is why it is called a "hospital hub" what. Empty sites are also released for hospitals. Lots of construction going on in the area. Parc Infinia is much closer to Novena MRT than Newton. Since govt announce its plan to transform this place to a hospital hub, you can only imagine more and more hospitals appearing.

[Newbie Homebuyer]

I think this is more for the area behind Novena and TTS than Park Infinia area.

I dun think it is a fengshui thing but as a forumer mentioned previously, you will not likely find your rich folks (Chinese or not) there. If you were rich, between staying within such hospitals/ illness/ skin disease etc and somewhere else, which would you choose? Simple right? Why choose such a place unless you work in the hospital or need to go there regularly? You will find foreign nurses/ docs renting but i know there are pple who are concerned abt using swimming pools in such condos cos they think if there is an outbreak of SARS or whatever, the medical staff will be exposed first.

[how are prices going?]

hi,

can anyone pls share how the prices for Park Infinia heading now? What's the last 6 months' caveats showing?

many thanks in advance!

[Advisor]

hi,

can anyone pls share how the prices for Park Infinia heading now? What's the last 6 months' caveats showing?

many thanks in advance!

Check ura caveat website

www.ura.gov.sg

[Unreg¡stered]

Check ura caveat website

www.ura.gov.sg
Wah lau!
Your advice not good enough lah.
He is looking for spoon-fed information lah.

[hospital condos are hot]

condos near hospitals are hot!! people will surely fall sick and sffer from cancer sooner or later, so living in the hospital hub shud be everyone's number one priority. first to rush to hospital to avoid queues and first to see specialists if anything goes wrong. that is the reason why the condos in novena are at a premium.....

[Onlooker]

condos near hospitals are hot!! people will surely fall sick and sffer from cancer sooner or later, so living in the hospital hub shud be everyone's number one priority. first to rush to hospital to avoid queues and first to see specialists if anything goes wrong. that is the reason why the condos in novena are at a premium.....
True! That's why I am signing on the dotted line now.

[Flu pandemic]

Also first to die when there is a flu pandemic. Novena is not only hospital hub. It is also the communicable disease centers and flu pandemic hub.


condos near hospitals are hot!! people will surely fall sick and sffer from cancer sooner or later, so living in the hospital hub shud be everyone's number one priority. first to rush to hospital to avoid queues and first to see specialists if anything goes wrong. that is the reason why the condos in novena are at a premium.....

[Question]

Also first to die when there is a flu pandemic. Novena is not only hospital hub. It is also the communicable disease centers and flu pandemic hub.
Will you leave Singapore when there is a flu pandemic? Cos' the germ will be all over Singapore. If you plan to leave, you better do it now. Bye!

[Unreg¡stered]

True! That's why I am signing on the dotted line now.
Cool! I just bought one in Novena weeks back for rental.

[Hospital Zone]

Contained in Novena area - just like Sars. All the infected people will be quarantined there. Not sure why you're so defensive. It is a known FACT that Novena will be developed into a hospital hub with 20+ hospitals. I believe some forummers have brought that to your attention. Many of these hospitals are still under construction but once they are ALL completed, you will see sick people all around you. The communicable disease centers - all three of them are located there to quarantine people once pandemic or any diseases breaks out. It is a risk (and a very real risk since SARs and bird flu has happened within a few years) that you have to take. This area is zoned for hospitals - that is a fact that you will have to live with if you buy a property there.


Will you leave Singapore when there is a flu pandemic? Cos' the germ will be all over Singapore. If you plan to leave, you better do it now. Bye!

[yyyyyyyyy?]

so u are one of those suckers that bought a property in the hospital town at its peak.


Cool! I just bought one in Novena weeks back for rental.

[Unregistered1]

Saw one new transaction at 106x psf! For like a 14xx sf unit. That must be the cheapest so far recently... wonder which floor that is.

[done to death]

Saw one new transaction at 106x psf! For like a 14xx sf unit. That must be the cheapest so far recently... wonder which floor that is.


Jesus Christ. This must have been discussed and beaten to death at least a million times.

For just TOP'ed condos (up till its statutory completion) during the deferred payment era, like Park Infinia and many others, you will see many of these caveats reflecting low prices.

This does not mean the actual transaction happening recently, instead it reflects the "official" record of the transaction (which could have been done two or three years ago) caveat lodged with the URA only recently by the buyer's bank.

This is because due to the deferred payment scheme, buyers are not required to take bank loans until the condo TOP's, which was just a few months ago. This person probably took his time in getting his bank loan, or his lawyer took his time in lodging the caveat.

[Lame]

Your excuse also done to death. Everytime one low psf come out then u say "oh! it is wrong or old filing". Give us a break. $1060psf is plausible for this place.


Jesus Christ. This must have been discussed and beaten to death at least a million times.

For just TOP'ed condos (up till its statutory completion) during the deferred payment era, like Park Infinia and many others, you will see many of these caveats reflecting low prices.

This does not mean the actual transaction happening recently, instead it reflects the "official" record of the transaction (which could have been done two or three years ago) caveat lodged with the URA only recently by the buyer's bank.

This is because due to the deferred payment scheme, buyers are not required to take bank loans until the condo TOP's, which was just a few months ago. This person probably took his time in getting his bank loan, or his lawyer took his time in lodging the caveat.

[Unregistered1]

Jesus Christ. This must have been discussed and beaten to death at least a million times.

For just TOP'ed condos (up till its statutory completion) during the deferred payment era, like Park Infinia and many others, you will see many of these caveats reflecting low prices.

This does not mean the actual transaction happening recently, instead it reflects the "official" record of the transaction (which could have been done two or three years ago) caveat lodged with the URA only recently by the buyer's bank.

This is because due to the deferred payment scheme, buyers are not required to take bank loans until the condo TOP's, which was just a few months ago. This person probably took his time in getting his bank loan, or his lawyer took his time in lodging the caveat.

I don't deny that can happen but why do you think this is one of those cases and not simply someone selling cheap? Do you know the inside story on this transaction?

[you are the lamer]

Your excuse also done to death. Everytime one low psf come out then u say "oh! it is wrong or old filing". Give us a break. $1060psf is plausible for this place.


Nope, caveats are lodged ONLY when loans are taken and bank assumes ownership liability for the property.

Caveats will not be lodged until bank loan is taken or in some cases, when CPF is used as downpayment, not when options are exercised. Options exercised mean nothing if bank loan is not taken, don't you know that? Because there are no lawyers involved and there is no charge on the property yet. Hence caveats will only be lodged (by the buyer's lawyer) when there is 100% proof that the transaction is official, meaning that there is a charge on the property (liability belongs to someone).

And then it is only if buyer's lawyer decides to lodge caveat. Many times they do not. I have personally experienced it twice already involving 2 resale properties I bought.

If you don't understand the above, and I don't expect you to, just shut it. You are not intellectually qualified to discuss any more on this issue. TO know if I am speaking the truth, talk to your conveyancing lawyer.

$1060 psf is not plausible at this point in time for resale at Park Infinia. This is very likely a caveat lodged involving a transaction that took place 1 or 2 years ago.

[rational bear]

I don't deny that can happen but why do you think this is one of those cases and not simply someone selling cheap? Do you know the inside story on this transaction?

Very simple, look at the open market asking prices for Park Infinia. On the average $1500 psf. They may be lower than the average for the Newton area (the TOP effect in this case working negatively - as the speculators who bought into this project cannot afford to hold once the condo has TOP'ed), but no way any buyer could have negotiated the price down from $1500 psf to $1000 psf. In future maybe, if prices crash, but certainly not at this point in time. I am a bear too, waiting to pounce on the right property at the right price but I am not deluded like some friends of mine who expect to get a Newton property at $800 psf. Rationally-speaking, that $800 psf is not very likely any more even if prices crash, not in Newton area or anywhere in D9, 10, 11. Because the long-term trend over 10 year cycles has always shown property prices in Singapore to be up.

If this caveat is not caused by the deferred payment effect, and is a bona fide sub-sale or secondary market transaction, then I expect it to be a deal between 2 related insider parties: father and son, brother and brother, company to director, etc

But I believe that this $1060 psf in no way reflects the market price for Park Infinia.

BTW, if Newton prices crash to $800 psf then I will not even consider buying anything in Singapore forever, and probably migrate to a country with better economic foundations and prospects.

[Unregistered1]

I agree. Drop 20% is already very chia lat for a recession... that means $1500 down to $1300 psf. Want to buy at $800 psf? The day it happens, may be war time.... in which case, all prices have collapsed... so why buy at $800 psf when you can buy at $200 psf...

[Unregistered1]

I agree. Drop 20% is already very chia lat for a recession... that means $1500 down to $1300 psf. Want to buy at $800 psf? The day it happens, may be war time.... in which case, all prices have collapsed... so why buy at $800 psf when you can buy at $200 psf...

I meant $1200 not $1300...

[Unreg¡stered]

Saw one new transaction at 106x psf! For like a 14xx sf unit. That must be the cheapest so far recently... wonder which floor that is.
$1,06x psf for D11 PI? What for?
Don't buy D11 PI lah.
People are now busy buying D14 Dakota Residences at $1,06x psf lah.

[Real Estate Pundit]

Below are the latest caveats lodged, if some psf$ do not make sense it is because the caveats for the original purchases were lodged again by the buyers' lawyers. If the prices are too good to be true, there usually are...too good to be true!

I don't think any sellers are giving their units away.....yet.

Unit, #___SQFT___PSF,$___Total,$____Contract date
15-08____1464___1061___1,553,940___17/09/08

15-08____1464___1550___2,269,200__01/09/08
15-08____1464___1061___1,553,940__19/10/06
22-10____1690___1380___2,332,200___17/09/08

22-10____1690___1071___1,809,990__07/07/06
22-17____560____1491___835,000____12/09/08
26-17____560____1521___852,000____10/09/08
25-17____560____1520___851,000____09/09/08
11-08____1464___988____1,446,000___09/09/08

11-08____1464___1633___2,390,000___16/06/08
11-08____1464___988____1,446,000___05/07/07
27-13____850____1484___1,261,485____08/09/08

27-13____850____1420___1,207,000____19/06/08
27-13____850____1484___1,261,485____03/07/07
29-11____2002___968____1,938,530___08/09/08

29-11____2002___1520___3,043,040___12/07/08
29-11____2002___968____1,938,530___???
10-03____1442___1280___1,845,760___05/09/08

10-03____1442___819___1,181,644___27/07/06
19-09____1001___1069___1,070,000____05/09/08

19-09____1001___1499___1,500,000____27/06/08
19-09____1001___1270___1,271,270____20/03/07
23-17____560____1498___839,000____03/09/08
15-17____560____1479___828,000____01/09/08
18-17____560____1479___228,000____01/09/08
13-17____560____1455___815,000____01/09/08
16-07____1001___1300___1,301,300__30/08/08
07-15____969____929____900,428___29/08/08
28-16____893____1501___1,340,000___29/08/08

28-16____893____893___1,047,888___05/01/06
25-12____1582___911____1,441,530___29/08/08

25-12____1582___911____1,441,530___29/08/08
25-12____1582___1580___2,500,000___11/07/08
25-12____1582___1315___2,080,000___10/04/07
25-12____1582___1119____1,441,530___12/03/07
07-14____1335___1146___1,530,000___25/08/08

07-14____1335___785____1,047,888___18/11/05
29-16____893____1684___1,504,000___22/08/08
08-12____1582___1370___2,167,340___20/08/08

08-12____1582___857___1,356,160___26/08/05

[Losses]

Interesting some units are flipping at a loss. Hospital zone probably not everyone's cup of tea. A lot of hospital construction at the same time, can be polluted too.

[Falling]

Low floors <10 are doing badly. In no time, will fall to 1000+psf. It's already at <1300psf for most.

[Sterile]

The whole area is rather clinical and sterile - and will get worse with more hospital and medical centers springing up. I suspect people buy the area solely for the MRT. There will be many more MRT stations coming up in much nicer areas in time to come e.g. Bukit Timah.

Just a word of advice. From my many years in the property market, don't buy anything that is close to 1500psf. Most locals baulk at prices above 1500psf for a pigeon hole in the sky. There is mental block at 1500psf for a pigeon hole. So if you buy any condo close to 1500psf, e.g. 1300psf, your upside will be quite limited, unless u bank on the foreigners market which is unpredictable. Singapore is small and u get around in a car quite easily. Most locals will just settle for other condos below their mental block price of 1500psf, and take whatever savings on the property to enjoy other aspects of life. At the end of the day, your house is not your everything.

[Real Estate Pundit]

Below are the latest caveats lodged, if some psf$ do not make sense it is because the caveats for the original purchases were lodged again by the buyers' lawyers. If the prices are too good to be true, there usually are...too good to be true!

I don't think any sellers are giving their units away.....yet.

Unit, #___SQFT___PSF,$___Total,$____Contract date
28-0X____1421___1200___1,705,000___26/09/08 --- NEW

28-0X____1421___1339___1,902,267___25/06/07 --- This owner would lose at least $200K!!!
15-08____1464___1061___1,553,940___17/09/08

15-08____1464___1550___2,269,200__01/09/08
15-08____1464___1061___1,553,940__19/10/06
22-10____1690___1380___2,332,200___17/09/08

22-10____1690___1071___1,809,990__07/07/06
22-17____560____1491___835,000____12/09/08
26-17____560____1521___852,000____10/09/08
25-17____560____1520___851,000____09/09/08
11-08____1464___988____1,446,000___09/09/08

11-08____1464___1633___2,390,000___16/06/08
11-08____1464___988____1,446,000___05/07/07
27-13____850____1484___1,261,485____08/09/08

27-13____850____1420___1,207,000____19/06/08
27-13____850____1484___1,261,485____03/07/07
29-11____2002___968____1,938,530___08/09/08

29-11____2002___1520___3,043,040___12/07/08
29-11____2002___968____1,938,530___???
10-03____1442___1280___1,845,760___05/09/08

10-03____1442___819___1,181,644___27/07/06
19-09____1001___1069___1,070,000____05/09/08

19-09____1001___1499___1,500,000____27/06/08
19-09____1001___1270___1,271,270____20/03/07
23-17____560____1498___839,000____03/09/08
15-17____560____1479___828,000____01/09/08
18-17____560____1479___228,000____01/09/08
13-17____560____1455___815,000____01/09/08
16-07____1001___1300___1,301,300__30/08/08
07-15____969____929____900,428___29/08/08
28-16____893____1501___1,340,000___29/08/08

28-16____893____893___1,047,888___05/01/06
25-12____1582___911____1,441,530___29/08/08

25-12____1582___911____1,441,530___29/08/08
25-12____1582___1580___2,500,000___11/07/08
25-12____1582___1315___2,080,000___10/04/07
25-12____1582___1119____1,441,530___12/03/07
07-14____1335___1146___1,530,000___25/08/08

07-14____1335___785____1,047,888___18/11/05
29-16____893____1684___1,504,000___22/08/08
08-12____1582___1370___2,167,340___20/08/08

08-12____1582___857___1,356,160___26/08/05

[C.X]

Unit, #___SQFT___PSF,$___Total,$____Contract date
28-0X____1421___1200___1,705,000___26/09/08 --- NEW
28-0X____1421___1339___1,902,267___25/06/07 --- This owner would lose at least $200K!!!

Kaoz..15mths lose 200K+not forgetting stamp fees & stamp duty fees.It's really a buyers world now..;)

[Unregistered???]

wow... and i thought high floor units will do better.

[Question]

Unit, #___SQFT___PSF,$___Total,$____Contract date
28-0X____1421___1200___1,705,000___26/09/08 --- NEW
28-0X____1421___1339___1,902,267___25/06/07 --- This owner would lose at least $200K!!!

Kaoz..15mths lose 200K+not forgetting stamp fees & stamp duty fees.It's really a buyers world now..;)
How do you know this 26-Sep-08 caveat is not an old caveat?

[Real Estate Pundit]

How do you know this 26-Sep-08 caveat is not an old caveat?

This unit has only 2 caveats lodged. If the $1.7Mil transaction is the old caveat, there should be another caveat about 2 months preceeding it.

[Q2]

This unit has only 2 caveats lodged. If the $1.7Mil transaction is the old caveat, there should be another caveat about 2 months preceeding it.
How did you know he did not bought at $1,705,000 in 2006 and sold at $1,902,267 in 2007?

[Real Estate Pundit]

It is very rare to have developers sell a unit and then round to the nearest thousand of dollars. Developers do not give discount by rounding the price, they will more likely absorb stamp duty or provide deferred payment. Thus the $1.9M price is developer sale price. And in 2006, the psf should be nearer to $1,000.

[PI fan]

Whats the going rate for PI 1464 sq ft units now in stacks 1 or 2 from 15th floor onwards, would you know?

[depends]

It is very rare to have developers sell a unit and then round to the nearest thousand of dollars. Developers do not give discount by rounding the price, they will more likely absorb stamp duty or provide deferred payment. Thus the $1.9M price is developer sale price. And in 2006, the psf should be nearer to $1,000.

Not true. I got rounded off with the hundreds removed when I buy my property. That's on top of other discount and deferred payment.

[another PI fan]

i like the spacious grounds that come with PI. however, can i ask which 3br stacks are worthwhile considering? also, what is considered a good price for these stacks?

many thanks!

[Q3]

This unit has only 2 caveats lodged. If the $1.7Mil transaction is the old caveat, there should be another caveat about 2 months preceeding it.

Sorry, could u explain more... why would there be aanother one 2 months preceding? catch no ball.. pai seh.

[Wow]

URA website has an Aug transaction at 1146 psf! 13xx sf unit. Looks like the prices are falling. Are units of this size good facing?

[dug into history]

How do you know this 26-Sep-08 caveat is not an old caveat?

looked through old caveat listing provided by agent back in jan 2008, i do see this entry already listed:

28-0X____1421___1339___1,902,267___25/06/07

i suppose it is indeed a loss then. if you realise what stack this is, i think it is pretty understandable then.

[Wow]

looked through old caveat listing provided by agent back in jan 2008, i do see this entry already listed:

28-0X____1421___1339___1,902,267___25/06/07

i suppose it is indeed a loss then. if you realise what stack this is, i think it is pretty understandable then.

what's with this stack? no view?

[Real Estate Pundit]

Sorry, could u explain more... why would there be aanother one 2 months preceding? catch no ball.. pai seh.

When you buy a property in the secondary market, you 1st give either a 1% or 5% payment to get the 'Option to purchase'. You will then have 2 weeks to exercise this 'Option to purchase'. So depending on how fast you are at finding a lawyer and to give the documents to your lawyer, the appearance of your cavaet to purchase the property will also be timed in similar fashion, meaning the caveat may appear on day 2 or even day 14 of the option date.

Most transactions will take the normal course of 2 months to complete, although a seperate arrangement for quicker or longer completion may be negotiated. Prior to completion, most lawyers will do a search on the Seller. Subsequently, the caveat showing the Seller's original purchase will appear.

In summary, every purchase will very likely have 2 caveats. 1st, to show the BUYER's purchase price and 2nd, to show the SELLER's original purchase price, and this may appear upto 2.5 months later.

[tie your neak]

All you losers talk so much cock also will not stop condo prices from falling.
Singapore will go into recession and all your properties will go under water.
Get a rope ready to tie around your neaks.

[Real Estate Pundit]

The unit is #28-06. So why are there sceptics over the selling price of this unit? Is this scenario improbable? Seller bought this unit from Keppel near the peak of the the property bubble of 2007, and we are seeing price correction now.

Have people forgotten to concept of incurring losses in property transactions? A lot of properties purchased in 1996, 1997 were sold at a huge losses.

[discussion only]

Has anyone thought of this?

In Singapoe when a bank goes bust, our savings are protected up to $20K right and we can also take legal action against the bank to claim back the rest.

What about the car and property loan we took from the bank? Does that mean that these loans are clear forever and we get to keep both?

Of course - for discussion only lah. I also don't want this to happen.

[Curious]

All you losers talk so much cock also will not stop condo prices from falling.
Singapore will go into recession and all your properties will go under water.
Get a rope ready to tie around your neaks.
Go under water? Then how come you still can talk cock here? Strange!

[Unreg¡stered]

When you buy a property in the secondary market, you 1st give either a 1% or 5% payment to get the 'Option to purchase'. You will then have 2 weeks to exercise this 'Option to purchase'. So depending on how fast you are at finding a lawyer and to give the documents to your lawyer, the appearance of your cavaet to purchase the property will also be timed in similar fashion, meaning the caveat may appear on day 2 or even day 14 of the option date.

Most transactions will take the normal course of 2 months to complete, although a seperate arrangement for quicker or longer completion may be negotiated. Prior to completion, most lawyers will do a search on the Seller. Subsequently, the caveat showing the Seller's original purchase will appear.

In summary, every purchase will very likely have 2 caveats. 1st, to show the BUYER's purchase price and 2nd, to show the SELLER's original purchase price, and this may appear upto 2.5 months later.
Why did the original purchase price appear upto 2.5 months later after selling?
When I bought units in 06, all appeared 2/3 months after my purchase. When I sell them in 07, they don't reappear again.

[Unreg¡stered]

The unit is #28-06. So why are there sceptics over the selling price of this unit? Is this scenario improbable? Seller bought this unit from Keppel near the peak of the the property bubble of 2007, and we are seeing price correction now.

Have people forgotten to concept of incurring losses in property transactions? A lot of properties purchased in 1996, 1997 were sold at a huge losses.
Of course it is possible. Anything is possible. There will be people selling at loss even in a hot market. I have friends who sold at loss due to a divorce.

Forumers started questioning because URA caveats often can't tell the true picture. If URA state the transaction date rather than the caveat lodge date, then everyone will stop questioning and take it as a bible.

The fault lies with URA not the forumers. We basically don't know.

[orangetee]

To all agents from different agencies.

Please Co-op, i know sales are getting very down.

No point coming here and vent frustration with

vulgarities and nonsense postings.

Thank you.

[wiser moth]

The unit is #28-06. So why are there sceptics over the selling price of this unit? Is this scenario improbable? Seller bought this unit from Keppel near the peak of the the property bubble of 2007, and we are seeing price correction now.

Have people forgotten to concept of incurring losses in property transactions? A lot of properties purchased in 1996, 1997 were sold at a huge losses.

Agree with above; many people (including me) thought good times were going to go on for a few more years....

[UN1001]

Hi Wiser,

You are not the only one thinking the market will have another few good years. Just take a look at the number of en-blocs and land purchases done in 2007 by the traditional big boys developers......Sentosa upto $1750+ PSF per plot ratio....Upper East Coast at $780psf per plot ratio! The 'Irrational exuberance' went to the developers' heads as well.

The only silver lining will be the construction costs coming down.

[wiser moth]

Am just wondering how many PI owners trying to cash out? Heard that many of the original owners who bought in 2005 or earlier already sold..

[Ardmore1*]

Hello everyone. Heard that SG in recession so i came here
to laugh at you guys. Hip hip hooray!

[So?]

Hello everyone. Heard that SG in recession so i came here
to laugh at you guys. Hip hip hooray!

Funny. Do we know you. I think you are in the wrong place.

[Ardmore2*]

Hello everyone. Heard that SG in recession so i came here
to laugh at you guys. Hip hip hooray!
..........

"..... you need to be technically correct when you post.

Singapore government forecasted Singapore in Technical Recession for Q3 2008 based on July and August figures. We will know the September results by the end of October.

Economists forecast lower GDP Growths for the next 2-3 years. They did not forecast Recession. ....."

[News]

..........

"..... you need to be technically correct when you post.

Singapore government forecasted Singapore in Technical Recession for Q3 2008 based on July and August figures. We will know the September results by the end of October.

Economists forecast lower GDP Growths for the next 2-3 years. They did not forecast Recession. ....."
Just f.y.i..

The last "technical recession" occurred in 2002.

The last "recession" occurred in 2001 when the GDP growth was -2.4%.

[singapore]

Oct 10, 2008

S'pore slips into recession

# MTI lowers 2008 forecast to 3%, from earlier 4-5%
# MAS moves to ease monetary policy
# Inflation has peaked


SINGAPORE has slipped into its first recession since 2002 after its economy declined for a second straight quarter, prompting the central bank to ease monetary policy favoring gains in its currency in an effort to confront the downturn.

The Ministry of Trade and Industry (MTI) on Friday also revised downwards Singapore's full-year growth forecast to around 3 per cent from an earlier estimate of 4 to 5 per cent, citing a slowdown in the global economy and key domestic sectors.

At the same time, the Monetary Authority of Singapore said it was easing monetary policy for the first time in more than four years. It said on Friday it is shifting to a 'zero-percent appreciation' stance and will intervene to reduce "excessive volatility'.

There will be no re-centering of the band of change in the so-called width, the range in which it is allowed to trade, said MAS.

Central banks around the world are loosening monetary policy and cutting interest rates as an escalating global credit crisis that's toppled banks in the US and Europe saps growth.

MTI said the impact of the worsening US financial crisis and the deepening credit crunch had weakened US consumer sentiment, which will affect demand from Asia and the rest of the world.

On a seasonally adjusted quarter-on-quarter annualised basis, real GDP declined by 6.3 per cent in the third quarter after contracting 5.7 per cent in the previous quarter, the ministry said.

While it did not describe the economy as being in recession, a technical recession is generally defined as two consecutive quarters of contraction in economic output.

Economists polled by Dow Jones Newswires had forecast a 0.3 per cent quarter-on-quarter rise in gross domestic product, the value of goods and services produced in the economy.

Singapore's last technical recession occurred in 2002 while the most recent full-scale recession was in 2001, when the economy contracted 2.4 per cent during the year.

Compared with the third quarter of last year, the ministry said Singapore's economy contracted by 0.5 per cent in real terms, against 0.8 per cent expansion foreseen in the Dow Jones poll.

In August the government had revised down its full-year GDP forecast to 4.0-5.0 per cent but since then, external economic conditions have deteriorated more than expected and some sectors of the economy have weakened significantly because of industry-specific or domestic factors, the ministry said.

'Singapore's export-oriented sectors, such as manufacturing, will be affected,' it added.

Last year the economy expanded 7.7 per cent but after years of growth, signs of a slowdown emerged with recent disappointing trade data and contractions in the important manufacturing sector, which includes the export-dependent electronic and pharmaceutical industries.

In August, key non-oil domestic exports fell for the fourth straight month, with electronic shipments continuing a decline begun in February 2007, while manufacturing dropped by 12.2 per cent.

The August fall in output followed a 21.5 per cent decline the previous month.

The government's preliminary third-quarter GDP estimates are based largely on data from July and August, and are subject to revision.

Inflation peaks
Inflation, which reached a 26-year high earlier this year, has peaked, said MAS. Consumer prices will rise between 6 per cent and 7 per cent this year, and gains will ease to between 2.5 per cent and 3.5 per cent in 2009, it predicted.

'Against the backdrop of a weakening external economic environment and continuing stresses in global financial markets, the growth of the Singapore economy is expected to remain below potential in the period ahead,' said MAS.

'Inflation is expected to trend down in 2009 as the global and domestic economies slow.'

Exports slump
Singapore's US$161 billion (S$239 billion) economy declined 0.5 per cent last quarter from a year earlier, compared with a revised 2.3 per cent gain between April and June.

Growth has deteriorated as a slump in export demand forced factories to cut production, tourist arrivals faltered and a real-estate boom ended, reported Bloomberg news.

The island's manufacturing industry, which accounts for a quarter of the economy, contracted 11.5 per cent last quarter from a year earlier, compared with a revised 4.9 per cent drop in the previous three months, according to today's report.

Singapore's government expects exports to decline as much as 4 per cent this year, and the island's shipments of electronics goods have fallen for 19 consecutive months.

Financial services
Services climbed 6.1 per cent in the third quarter from a year earlier, slowing from a 7 per cent pace in the previous three months. The city-state will probably miss a government target of 10.8 million visitors in 2008, the tourism board said on Sept 23, after visitor arrivals dropped 7.7 per cent in August.

'The financial services sector is likely to see slower growth in the coming months as the ongoing global financial crisis has heightened uncertainties for sentiment-sensitive segments such as stocks trading and fund management activities,' said MIT.

The construction industry grew 7.8 per cent, easing from a revised rate of 19.8 per cent in the previous quarter.

Singapore's benchmark Straits Times Index slumped 7.3 per cent to its lowest level since November 2004 on Friday in opening trade after the economic data and policy statement.

The Singapore dollar rose to $1.4724 per US dollar after the central bank's announcement compared with $1.4780 as traders adjusted positions after the widely expected move. -- AFP, REUTERS

[Question]

..........

"..... you need to be technically correct when you post.

Singapore government forecasted Singapore in Technical Recession for Q3 2008 based on July and August figures. We will know the September results by the end of October.

Economists forecast lower GDP Growths for the next 2-3 years. They did not forecast Recession. ....."

Just f.y.i..

The last "technical recession" occurred in 2002.

The last "recession" occurred in 2001 when the GDP growth was -2.4%.

Oct 10, 2008

..........

The government's preliminary third-quarter GDP estimates are based largely on data from July and August, and are subject to revision.

..........

The Singapore dollar rose to $1.4724 per US dollar after the central bank's announcement compared with $1.4780 as traders adjusted positions after the widely expected move. -- AFP, REUTERS
So these are preliminary figures based on data from July and August. When can we get the final GDP figure?

So if Q4 growth is higher than Q3, then we need another 2 more Qs to get another technical recession?

[What?]

So these are preliminary figures based on data from July and August. When can we get the final GDP figure?

So if Q4 growth is higher than Q3, then we need another 2 more Qs to get another technical recession?
you mean need 2 slowing quarters after Q4 ah ??

[orange tee]

All property agents stop your nonsense postings please.

[Seng]

All property agents stop your nonsense postings please.
What do you wants us to do?

[APR]

What do you wants us to do?
Join J-Dog and the rest to talk cock.

[Real Estate Pundit]

Below are the latest caveats lodged, if some psf$ do not make sense it is because the caveats for the original purchases were lodged again by the buyers' lawyers. If the prices are too good to be true, there usually are...too good to be true!

I don't think any sellers are giving their units away.....yet.

Unit, #___SQFT___PSF,$___Total,$____Contract date

28-1X____1335___1325___1,768,875___29 Sep 08 --- NEW
28-0X____1421___1200___1,705,000___26/09/08

28-0X____1421___1339___1,902,267___25/06/07 --- This owner would lose at least $200K!!!
15-08____1464___1061___1,553,940___17/09/08

15-08____1464___1550___2,269,200__01/09/08
15-08____1464___1061___1,553,940__19/10/06
22-10____1690___1380___2,332,200___17/09/08

22-10____1690___1071___1,809,990__07/07/06
22-17____560____1491___835,000____12/09/08
26-17____560____1521___852,000____10/09/08
25-17____560____1520___851,000____09/09/08
11-08____1464___988____1,446,000___09/09/08

11-08____1464___1633___2,390,000___16/06/08
11-08____1464___988____1,446,000___05/07/07
27-13____850____1484___1,261,485____08/09/08

27-13____850____1420___1,207,000____19/06/08
27-13____850____1484___1,261,485____03/07/07
29-11____2002___968____1,938,530___08/09/08

29-11____2002___1520___3,043,040___12/07/08
29-11____2002___968____1,938,530___???
10-03____1442___1280___1,845,760___05/09/08

10-03____1442___819___1,181,644___27/07/06
19-09____1001___1069___1,070,000____05/09/08

19-09____1001___1499___1,500,000____27/06/08
19-09____1001___1270___1,271,270____20/03/07
23-17____560____1498___839,000____03/09/08
15-17____560____1479___828,000____01/09/08
18-17____560____1479___228,000____01/09/08
13-17____560____1455___815,000____01/09/08
16-07____1001___1300___1,301,300__30/08/08
07-15____969____929____900,428___29/08/08
28-16____893____1501___1,340,000___29/08/08

28-16____893____893___1,047,888___05/01/06
25-12____1582___911____1,441,530___29/08/08

25-12____1582___911____1,441,530___29/08/08
25-12____1582___1580___2,500,000___11/07/08
25-12____1582___1315___2,080,000___10/04/07
25-12____1582___1119____1,441,530___12/03/07
07-14____1335___1146___1,530,000___25/08/08

07-14____1335___785____1,047,888___18/11/05
29-16____893____1684___1,504,000___22/08/08
08-12____1582___1370___2,167,340___20/08/08

08-12____1582___857___1,356,160___26/08/05

[valmo7]

Thanks for the effort, REP..:)

[Unreg¡stered]

$1,06x psf for D11 PI? What for?
Don't buy D11 PI lah.
People are now busy buying D14 Dakota Residences at $1,06x psf lah.
Is there anything wrong with you, friend?
D11 selling at D14 price?
People in D7 are laughing at you with their $1,871psf.

Private Residential Units Sold in the Month of September 2008

Project Name ...... Locality . Units Sold In Month . Highest $psf . Median $psf . Lowest $psf
Concourse Skyline . RCR ........ 68 ............................. 1,871 ............ 1,592 ............ 1,272

Wah lau erh!
Seow liao ah!
$1,871psf.

[Unregistered222]

Just don't look ONLY at the district number and nothing else. There're some districts that have very attributes - D11 in Novena area near hospital zone. The integrated hospital hub in Novena well connected and leading to the funeral hub in Thomson area is a no go for many.

[Unreg¡stered]

Just don't look ONLY at the district number and nothing else. There're some districts that have very attributes - D11 in Novena area near hospital zone. The integrated hospital hub in Novena well connected and leading to the funeral hub in Thomson area is a no go for many.
Are you sure or you are just making wild assumption? Many are very keen in the area and buying.

[Reg¡stered]

Is there anything wrong with you, friend?
D11 selling at D14 price?
People in D7 are laughing at you with their $1,871psf.
Can't compare to D4 lah.
$2,367psf!!

Private Residential Units Sold in the Month of September 2008

Project Name ................ Locality . Units Sold In Month . Highest $psf . Median $psf . Lowest $psf
Reflections @ Keppel Bay . RCR ........ 8 ............................... 2,367 ............. 2,086 ........... 1,695

Wow! $2,367psf!

[Unregggg]

http://www.tnp.sg/news/story/0,4136,180640,00.html?


FIRE SALE: OWNERS DUMP CONDOS
Agents: Some clients give as much as 20 per cent discount
By Elysa Chen

October 20, 2008

FOR sale: Luxurious multi-million-dollar apartments, not quite for a steal, but with a hefty discount.

Stock market losses have forced some property owners to resort to 'fire sales' for a quick return to liquidity.

And because the property market is almost flat, they have had to let go of their property at huge discounts.

Property agent Henry Neo receives one SMS a day from different clients asking him to sell their homes.

Mr Neo, who has been a property agent for close to 20 years, said: 'The Asian financial crisis of 1997 and this crisis are real challenges.

'It's a tsunami of the stock market.'

Two or three of the 50 clients he is servicing now are what he calls 'desperados' - people who had their fingers burnt so badly in the stock market they need to sell their houses.

The situation is worse for those who opted for deferred payment schemes, said Mr Neo, because some are no longer eligible for loans, and cannot meet payments once the developers issue the Temporary Occupation Permit (TOP).

'They have to get rid of their properties before TOP, so they would be giving even more discounts.'

Noting that the high-end property market seems to be hit the hardest, Mr Neo said: 'My colleagues who specialise in high-end properties are not doing well. They do not have any transactions at all.'

Mr David Cheang, senior vice-president of the Resale Division at HSR Property Group, noted that two out of every 10 clients are affected by the stock market crash, and are selling their property investments to 'get more liquidity'.

A property agent who declined to give his full name said one of his clients had made such losses on the stock market that he was selling his 27th floor freehold apartment at the Twin Regency for a mere $1.05 million, though its market price is $1.3 million.

Last year, he had sold another unit, on the 29th floor of the same condominium, for $1.4 million.

It is the same story for Mr Felix Young, 35, a property agent specialising in high-end condominiums. Some of his clients are prepared to go as low as 20 per cent below their offer price.

He had taken out an advertisement for five properties, all high-end condominium units in the city.

Apartments at The Sail at Marina Bay, which were going for $2,000 psf are now being offered for sale at $1,450 psf, said Mr Young.

But even such a huge discount is failing to entice buyers, who are asking for $1,100 psf. That is because even with such discounts, the two-room apartment costs about $1.3 million.

In the current climate, not many people would be able to shell out that kind of money because they could be sitting on huge paper losses in the stock market.

Mr Young said: 'Buyers have the sentiment that the property market will cool even more, and prices will drop further.'

And because of this, said Mr Young, there has been a significant drop in transactions - up to 70 per cent for high-end properties that people buy for investments.

Most buyers also know developers' launch price for the condominiums and are holding out until they can get a unit at that price.

He said: 'These days, when buyers call me, they ask me if I have any owners who are 'bleeding'.'

Bleeding is a term that is used to describe owners who over-committed themselves financially and need to sell their properties in a hurry.

Mr Young said: 'Many of my clients' bank loans are kicking in soon, so they need to release the properties quickly, before TOP.

'They are stuck because they can neither sell their property, nor rent it out to cover their mortgages, as the rental market has slowed down a lot.'

[Condo hunter]

Wow the dumping has begun!!!

[Curious]

Can't compare to D4 lah.
$2,367psf!!
Wah! $2,367psf?
What kind of unit is this?

[Happy Feet]

http://www.tnp.sg/news/story/0,4136,180640,00.html?

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

'They are stuck because they can neither sell their property, nor rent it out to cover their mortgages, as the rental market has slowed down a lot.'[/b]
Don't read TNP anymore lah.
Why not go for a holiday and enjoy yourself?


http://www.tnp.sg/mnt/static/image/images/mast_04.gif
Recession? What recession?
The New Paper
Jazmin Kelly Six
Friday, 17 October 2008

http://travel.asiaone.com/A1MEDIA/travel/10Oct08/images/20081019.174051_20081019-tnp-sporetrav-a.jpg

It may be turbulent times for the economy, but Singaporeans are still taking to the skies.

The travel industry has registered an increase of 15 to 30 per cent annual growth.

For many Singaporeans, overseas holidays are no longer a luxury but have become a lifestyle habit.

Senior vice-president marketing and PR of CTC Holidays, Ms Alicia Seah, said: 'Travel is already part of our lifestyle, it is the fundamental fabric to freedom.'

In response to a successful National Association of Travel Agents Singapore (Natas) fair in August, Mr Robert Khoo, CEO of Natas, said: 'Despite Singapore's rising costs in food and transportation, Singaporeans are saving to travel.'

Record visitors

This enthusiasm was evident at the three-day fair where a record 65,583 visitors snapped up about $60million worth of travel packages, Natas said.

Regional business development manager Erik Hon, 29, has not let his wings be clipped by the financial meltdown.

He has already visited Hong Kong, Bangkok, Paris, Poland, Czech Republic and Slovakia this year alone. Come next January, he will be heading to Thailand for a short holiday and then to London, Amsterdam and eastern Europe next May.

Mr Hon said: 'I want to pamper myself every quarter... and feel the vibe of another city.'

As long as his bills are paid and has monthly savings set aside, travelling will be an essential he won't give up, he said.

On top of being avid travellers, Singaporeans like Mr Hon are also becoming more discerning. They do not mind paying a little more for comfort and a good time.

Miss Eileen Oh, vice-president leisure of UOB Travel Planners, said: 'We see more value-conscious consumers today than cost-conscious ones.'

As opposed to settling for a bare-bones of a holiday package, more consumers would gladly top up amounts ranging from '$50 to $500' to savour an enhanced holiday experience, Miss Oh added.

She also noted that Singaporeans are always on the lookout for good deals and 'tend to go where the currency favours'. This explains the spike in demand this year for destinations such as the US and, most recently, Australia.

Travel agencies we spoke to said they have been getting bookings for year-end travel from July.

Some tour operators even reported a sellout of over 70 per cent of their packages. Even after the stock markets started seeing red two weeks ago, most tour operators said they have not received cancellations.

Popular destinations

Taiwan, alongside popular winter destinations such as Japan and Korea, saw such great demand that airlines had to put in extra flights or switch to bigger carriers to accommodate travellers, Miss Seah said.

But, if you want to stretch your holiday dollar further, the best way would still be 'book your holidays early', suggested Hong Thai Travel's advertising and marketing manager, Miss Stella Chow.

She also advised the budget-conscious to take short-haul, holidays and opt for tourist-class hotels to save more.

When asked if he would be willing to put up at low-cost accommodations like hostels or budget hotels just so he could make that extra holiday trip, Mr Hon said he would definitely be raring to go 'as long as the room, location and amenities are decent'.

[Curious]

Don't read TNP anymore lah.
Why not go for a holiday and enjoy yourself?
What has holiday got to do with condo?

[Screwed]

Nothing..he's trying to deflect away negative sentiments...haha...

truth is, hard times are here, no hiding the truth...


What has holiday got to do with condo?

[Unreg¡stered]

Nothing..he's trying to deflect away negative sentiments...haha...

truth is, hard times are here, no hiding the truth...
You sure there is hard time at all?
From your expression, the good time is here.

[Anonymous]

Wah! $2,367psf?
What kind of unit is this?
You're interested?

[Prof Lilian Ng (NBS, NTU)]

You sure there is hard time at all?
From your expression, the good time is here.
Are we near the kind of economic difficulty faced during the Great Depression? The US economy today is much stronger than it was in 1929 and the fundamentals are still pretty strong regardless of the crisis we're in.

If you look at the numbers, they are so dramatically different. GDP growth in the US is about 1% and I'm sure it will fall but it is nothing like the -27% during the Great Depression. Unemployment is about 6.1%, but during the Great Depression it was 25%.

Today's world is very different from the Great Depression period - there is greater linkage between fiscal policies and the economy than before and all policymakers are working together. So we are not even close to the level of difficulties faced then.

[Reg¡stered]

You sure there is hard time at all?
From your expression, the good time is here.
He is trying to con you lah!

[Unregistered-7]

Hi Real estate pundit, any more updated caveats? thks

[Farnie]

Hi Real estate pundit, any more updated caveats? thks

There is a 3-bedder unit for sales now at $1,118 psf. 12th Flr. Can find this in Nationproperty website. Looks like some owners are cashing out now.

[moonk123]

Project Name-PARK INFINIA AT WEE NAM
Developer-Keppel Land Realty Pte Ltd(Keppel Land Limited)
Property Type-Condominium
Tenure - Freehold
Total Units - 486
Completion Date - Mar-2008
District - 11

1 bedroom / Studio (560 - 570sf)
2 bedroom (893 - 1130sf)
3 bedroom (1421 - 1464sf)
4 bedroom (1668 - 1690sf)

source from:
http://www.virtualhomes.sg/parkinfiniaatweenam

[Reporter]

Is there anything wrong with you, friend?
D11 selling at D14 price?
People in D7 are laughing at you with their $1,871psf.
It may not be D7, D11 or D14, but the Jurong District seems to be doing well.


http://www.straitstimes.com/Money/Story/STIStory_303557.html

November 18, 2008 Tuesday

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

There were a few quirks in the figures. For instance, a mass market condo, Lakeshore in Jurong West, sold for a relatively high $1,038 psf, said Savills Singapore's director of marketing and business development, Mr Ku Swee Yong.

Two posh 99-year leasehold bungalows at Sandy Island at Sentosa Cove were sold for a high $2,033 psf and a possible record price of $2,169 psf, or above $13 million each.

CBRE Research executive director Li Hiaw Ho said such deals last month seemed to show prices have remained fairly stable in the past two months.

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

[Reporter]

Private Residential Units Sold in the Month of October 2008

Project Name ................ Locality . Units Sold In Month . Highest $psf . Median $psf . Lowest $psf
Park infinia at Wee Nam .. CCR ........ 1 ............................... 1,640 ............. 1,640 ............ 1,640
Just this one?

[Teana]

Private Residential Units Sold in the Month of October 2008

Project Name ................ Locality . Units Sold In Month . Highest $psf . Median $psf . Lowest $psf
Park infinia at Wee Nam .. CCR ........ 1 ............................... 1,640 ............. 1,640 ............ 1,640

Just this one?
Good for district 11.

[valmo7]

Just saw in the URA website one big unit 2002 sq ft done at 1250psf..used to be these big units were only available at 1400psf or so.

[want2buyhse]

hihi, am wondering if anyone has the latest traded price/unit a 3 bedder here. any info on subsale units? tku!

[dmon]

recent transaction seen one unit doing lower than $1,100 psf. Given the current situation - jobs cut, salary cut, global economy slowdown, more expats leaving the country, lower financing margin, stricter requirements for getting loan, the vacant units would remain vacant for awhile. Sellers need to come to reality on the current scenario.

[spikey69]

recent transaction seen one unit doing lower than $1,100 psf. Given the current situation - jobs cut, salary cut, global economy slowdown, more expats leaving the country, lower financing margin, stricter requirements for getting loan, the vacant units would remain vacant for awhile. Sellers need to come to reality on the current scenario.

any idea what was the klaunch price psf?

[spikey69]

recent transaction seen one unit doing lower than $1,100 psf. Given the current situation - jobs cut, salary cut, global economy slowdown, more expats leaving the country, lower financing margin, stricter requirements for getting loan, the vacant units would remain vacant for awhile. Sellers need to come to reality on the current scenario.

ok - launch price varies btwn $1200 to $1500 psf. It seems $1100 is below launch price?

[dmonddd]

ok - launch price varies btwn $1200 to $1500 psf. It seems $1100 is below launch price?

launch price for some blocks were around $900 psf...there were 2 launches made by developers. prices you quoted were during the second launch. of late it has been so quite....decreasing activities in forum. And those active in forum are mainly the house hunters.

[oxboy99]

Anyone selling any units here? What is the price?

I hear there are still many units unsold and with prices set to drop 10-25% this year, I hope to catch someone cashing out.

[dtrax]

Anyone selling any units here? What is the price?

I hear there are still many units unsold and with prices set to drop 10-25% this year, I hope to catch someone cashing out.

if I am not wrong the unsold units are the noon sun facing ones

[bargain hunter]

From the new units sold page from URA, there are 28 out of 486 units by the developer left. Keppel Land is strong financially and probably won't cut prices by too much (1200 to >1400psf). There are probably better bargains to be found in the second hand market asking at 1150 to 1300.

[dmonddd]

From the new units sold page from URA, there are 28 out of 486 units by the developer left. Keppel Land is strong financially and probably won't cut prices by too much (1200 to >1400psf). There are probably better bargains to be found in the second hand market asking at 1150 to 1300.

i fully agree that better bargains from the second hand market esp. those units facing the new mosque....

[bargain hunter]

i fully agree that better bargains from the second hand market esp. those units facing the new mosque....

To be fair, the new building, which is easily more than 10 storey tall, is not a mosque as that section is gazetted for residential use. in fact, it is rumoured to be owned and developed by a rich arab investor for his own family's use. I think that kind of highlights the long term value at Park Infinia than the other way round. I am actually more concerned about the units which are facing the current construction noise of VIVA which when built up will ultimately block them. I am waiting for bargains at Blocks 2 and 2A more than Block 6 and 6A.

[dmonddd]

To be fair, the new building, which is easily more than 10 storey tall, is not a mosque as that section is gazetted for residential use. in fact, it is rumoured to be owned and developed by a rich arab investor for his own family's use. I think that kind of highlights the long term value at Park Infinia than the other way round. I am actually more concerned about the units which are facing the current construction noise of VIVA which when built up will ultimately block them. I am waiting for bargains at Blocks 2 and 2A more than Block 6 and 6A.

great if it's not..but try asking the worker. I did and that's the reply. Without approval? I'm a light sleeper. And hence it would be a huge problem. for the young ones as well.

[dmonddd]

recent transaction seen one unit doing lower than $1,100 psf. Given the current situation - jobs cut, salary cut, global economy slowdown, more expats leaving the country, lower financing margin, stricter requirements for getting loan, the vacant units would remain vacant for awhile. Sellers need to come to reality on the current scenario.

today's article on valuer's valuation price very much below that of seller's asking price, would push away buyers.

Option price paid to agent and bank later revert with lower valuation price, would force the buyers to place high downpayment amount.

Sellers nowadays may need to show latest valuation price if they wish to call their prices. For house buyers out there, please be cautious. Call for documentary evidence.

[dtrax]

today's article on valuer's valuation price very much below that of seller's asking price, would push away buyers.

Option price paid to agent and bank later revert with lower valuation price, would force the buyers to place high downpayment amount.

Sellers nowadays may need to show latest valuation price if they wish to call their prices. For house buyers out there, please be cautious. Call for documentary evidence.

Yes its very true but sad for sellers. I have viewed a few units though the agent from mouth says $1.Xm which I did not ask for the documentation but I did my own due diligence with the mortgage specialist with a bank which gave much lower valuation

[dmonddd]

Yes its very true but sad for sellers. I have viewed a few units though the agent from mouth says $1.Xm which I did not ask for the documentation but I did my own due diligence with the mortgage specialist with a bank which gave much lower valuation

suggest all house buyers to ask agents whether there's latest valuation. Otherwise, all house buyers are looking at unrealistic sellers. dont bother to view. this current market we strongly require the expertise's opinion, i.e. the valuer to guide the bank. sellers and buyers are men on the street. hope all remember that.

[dormer]

suggest all house buyers to ask agents whether there's latest valuation. Otherwise, all house buyers are looking at unrealistic sellers. dont bother to view. this current market we strongly require the expertise's opinion, i.e. the valuer to guide the bank. sellers and buyers are men on the street. hope all remember that.

It is no point to ask agents for latest valuation. I have an experience to ask valuation for my property from 2 banks recently. One quoted 1.2M and the other quoted 1.4M. I don't think there is any expertise here.

My personal opinion is that the buyers should do their homework to check from all sources available what price is fair to purchase and the most importantly how much the bank can lend?

[dmonddd]

It is no point to ask agents for latest valuation. I have an experience to ask valuation for my property from 2 banks recently. One quoted 1.2M and the other quoted 1.4M. I don't think there is any expertise here.

My personal opinion is that the buyers should do their homework to check from all sources available what price is fair to purchase and the most importantly how much the bank can lend?

things need to change. otherwise why are they earning commissions? i can ask any uncle or ah pek to sell property if buyer does all. you fail to see the point of the wide expectations from buyer and seller. agent comes in as professional with expert opinion from valuers and bank.

did you ask for a written valuation or a verbal one? it should be a written one as a seller. buyer will definitely need to do their homework as well and ask from valuer and bank so that financing is not a problem after paying option price. this is to bring two transacting parties to senses and closure of the deal. otherwise, seller can slow slow wait as buyer will never be able to get financing at high prices without strong supporting evidence. that differentiates a real winner seller from a passive loser one. The former makes transaction happens.

[oxboy99]

Banks nowadays reduce the valuations because the recession is expected to be very deep and long.

Therefore, the prices need to be realistic so that the buyer does not overpay and later is unable to service the mortgage when they lose business/job.

It is true that valuations are a sort of black magic and fluctuate depending on who you talk to. But a variance of a few hundred thousand for a million dollar property is not unusual. Of course, if you are paying the price, it's a lot!

[dmonddd]

but nobody seems to know what's that white building near the temple. I did ask the worker and he told me that it's for praying. Buidling structure looks like a mosque.

If anyone is viewing any unit/staying in Park Infinia and knows exactly the use of the building, please pm me. otherwise rental will dip as i'm looking at park infinia for investment and later for own occupation.

[bargain hunter]

but nobody seems to know what's that white building near the temple. I did ask the worker and he told me that it's for praying. Buidling structure looks like a mosque.

If anyone is viewing any unit/staying in Park Infinia and knows exactly the use of the building, please pm me. otherwise rental will dip as i'm looking at park infinia for investment and later for own occupation.

Indeed so. I took a closer look after you mentioned the other day, I think its 50:50 whether its a mosque or residential. I figured that for that "lobby" like area, if they do pray there but don't use any loudspeakers, Park Infinia residents probably won't be too affected. Its the small developments that are surrounding it that will be affected more. It would also be something new to have a > 10 storey mosque.

Looks like we have the same idea, buy a unit at park infinia for investment and later for own occupation. In any case, we can always wait for H2 of this year, maybe the property market will be lower then and its also clearer whether the building is a mosque or not.

[dmonddd]

Indeed so. I took a closer look after you mentioned the other day, I think its 50:50 whether its a mosque or residential. I figured that for that "lobby" like area, if they do pray there but don't use any loudspeakers, Park Infinia residents probably won't be too affected. Its the small developments that are surrounding it that will be affected more. It would also be something new to have a > 10 storey mosque.

Looks like we have the same idea, buy a unit at park infinia for investment and later for own occupation. In any case, we can always wait for H2 of this year, maybe the property market will be lower then and its also clearer whether the building is a mosque or not.

great to know someone within the hunting team is observant as well.
If it's a mosque or a religious teaching school, i may not consider park infinia at all as Keng lee is a pretty narrow and a-one way street but good exit. And fridays will always be packed. Same for thursday night. that will increase my "dislike" level for this project as the other exit roads are already narrow and busy, esp. coming in through United square.

[bargain hunter]

great to know someone within the hunting team is observant as well.
If it's a mosque or a religious teaching school, i may not consider park infinia at all as Keng lee is a pretty narrow and a-one way street but good exit. And fridays will always be packed. Same for thursday night. that will increase my "dislike" level for this project as the other exit roads are already narrow and busy, esp. coming in through United square.

Now that u mentioned it, it is more likely to be a religious school than a mosque or residential. Don't worry about Keng Lee road though, unlike the temple, the entrance to that building's underground carpark is along Suffolk Rd. Park Infinia also has another exit, can exit from Suffolk Walk to Thomson Rd easily so should not be an issue.

[valmo7]

just got this info from an agent:

Pi transactions :

26/11; stk 2, 3 bdrm, #12-03, 1442 sq ft, 1.53mn, 1061psf
22/10, stk 6, 4 bdrm, #03-11, 2002 sq ft, 2.5mn, 1250 psf
21/10, stk2, 3 bdrm, #18-01, 1464 sq ft, 1.83mn, 1250psf

at this rate , looks like it can go down to 2005 prices..

[Petmail]

It is no point to ask agents for latest valuation. I have an experience to ask valuation for my property from 2 banks recently. One quoted 1.2M and the other quoted 1.4M. I don't think there is any expertise here.

My personal opinion is that the buyers should do their homework to check from all sources available what price is fair to purchase and the most importantly how much the bank can lend?


Hi bro, just to highlight... Since you need to know what would be the possible and rightful value of your property which is gonna be evenutally supported by the banks for buyer's loan application, then you will need to get your agent to check with the bank for a "FAIR MARKET VALUE" rather than to ask for a valuation of your property.

I used to ask for valuation from the banks, but have since stop and ask them for a Fair Market Value instead which I assess the value against the market situation and transaction from there on.

You might just wanna try this method out first.

:)
Pet

[dmonddd]

Hi bro, just to highlight... Since you need to know what would be the possible and rightful value of your property which is gonna be evenutally supported by the banks for buyer's loan application, then you will need to get your agent to check with the bank for a "FAIR MARKET VALUE" rather than to ask for a valuation of your property.

I used to ask for valuation from the banks, but have since stop and ask them for a Fair Market Value instead which I assess the value against the market situation and transaction from there on.

You might just wanna try this method out first.

:)
Pet

looks like petmail is a season player... thanks for the update to juniors. cheers

[dmonddd]

Now that u mentioned it, it is more likely to be a religious school than a mosque or residential. Don't worry about Keng Lee road though, unlike the temple, the entrance to that building's underground carpark is along Suffolk Rd. Park Infinia also has another exit, can exit from Suffolk Walk to Thomson Rd easily so should not be an issue.

wow...thanks bargainhunter. You really know your way round the place. you sounds like you are staying in Park infinia. cheers

[Petmail]

looks like petmail is a season player... thanks for the update to juniors. cheers


Compared to most of you guys... am still a new bird... I knew cos I did some research around just to keep my clients updated as i do not wish them to sell above the fair market value which may eventually result them in selling at a lost.

;)
Pet

[ahlahdin]

looks like petmail is a season player... thanks for the update to juniors. cheers

Petmail is a seasoned property agent who needs sellers to lower expectations so that he has something to sell.

Without sellers actually selling down, there will be no transactions and Petmail will have no rice to eat.

This stalemate is no good for Petmail's ricebowl.

The best agents are flexible two-faced hypocrites. They know when to stand on buyers side or sellers' side.

No offence, just calling a spade a spade.

[unregistered_user]

Being civil doesnt count nowadays.
Esp not with Ahladin who seemed to be in this forum - in every thread - telling everybody to sell at 1990s prices .. Btw - even if they are willing to sell - would you have the $$ to buy?

No offence, just calling a spade a spade.



Petmail is a seasoned property agent who needs sellers to lower expectations so that he has something to sell.

Without sellers actually selling down, there will be no transactions and Petmail will have no rice to eat.

This stalemate is no good for Petmail's ricebowl.

The best agents are flexible two-faced hypocrites. They know when to stand on buyers side or sellers' side.

No offence, just calling a spade a spade.

[bargain hunter]

wow...thanks bargainhunter. You really know your way round the place. you sounds like you are staying in Park infinia. cheers

I wish I was staying there (buying at 1st launch prices of course). I did visit the showflat then with my friend and noticed the benfit of the big land area development having 2 entry/exits and multiple road entrances which led to the main entrance. My friend bought one of the lowest psf units and flipped out for a more than 60% profit. I had no money then and still do not have enough if prices remain where they are now hee.

[dmonddd]

given the surrounding projects under construction (noise pollution), uncertainty in the property market on direction, lower and lower fair market value, difficulty in getting bank financing, more job cuts, i'm opting for other projects.

my good friend once told me this: when we are in economic downturn, if you can afford it, drive your dream car.

look's like I be hunting for projects one up Park Infinia at Park Inifnia's current prices.

[bargain hunter]

given the surrounding projects under construction (noise pollution), uncertainty in the property market on direction, lower and lower fair market value, difficulty in getting bank financing, more job cuts, i'm opting for other projects.

my good friend once told me this: when we are in economic downturn, if you can afford it, drive your dream car.

look's like I be hunting for projects one up Park Infinia at Park Inifnia's current prices.

yeah, if u can afford it, go for D9 and 10 or the evelyn side.

[Petmail]

yeah, if u can afford it, go for D9 and 10 or the evelyn side.


both of you good choice good taste...

:)
Pet

[Petmail]

Petmail is a seasoned property agent who needs sellers to lower expectations so that he has something to sell.

Without sellers actually selling down, there will be no transactions and Petmail will have no rice to eat.

This stalemate is no good for Petmail's ricebowl.

The best agents are flexible two-faced hypocrites. They know when to stand on buyers side or sellers' side.

No offence, just calling a spade a spade.


I dun advise sellers to sell down nor need clock transactions this way.. if you are looking to buy a property fair market value is $1mil. would you pay $1.2mil to buy? buyers always wanna buy low while seller wishes to sell high, thus needing us to advise them about the market changes and the rightful price rather than let them price it unrealistically. the seller may even wanna pay me 10% commission but would i be able to close the transaction for him? it is never profitable for me to take up the exclusive or the business even after knowing the product is not sellable.

:)
Pet

[august]

yeah, if u can afford it, go for D9 and 10 or the evelyn side.

eyelyn side like less amenities leh...

[valmo7]

eyelyn side like less amenities leh...


Somehow, the "evelyn side" in Newton seems to be better regarded and this is reflected in the pricing..:confused:

[bargain hunter]

I agree with both your comments. That's why I am looking at Park Infinia. It is also well noted that Evelyn side has fewer amenities and yet command a premium because of exclusivity. A matter of personal preference I guess.

[dmonddd]

I dun advise sellers to sell down nor need clock transactions this way.. if you are looking to buy a property fair market value is $1mil. would you pay $1.2mil to buy? buyers always wanna buy low while seller wishes to sell high, thus needing us to advise them about the market changes and the rightful price rather than let them price it unrealistically. the seller may even wanna pay me 10% commission but would i be able to close the transaction for him? it is never profitable for me to take up the exclusive or the business even after knowing the product is not sellable.

:)
Pet


My 5 cents comments: we all need to check who are the key parties. such parties vary from good to bad times


In good times, there's only one driving force - seller.
In such hard times, there are 2 critical parties who will ensure completion of the transaction : (1) buyer (2) bank

The market will move from one point to the other.....now its somewhere towards point B but not there yet.

[Gen Sahiro]

My 5 cents comments: we all need to check who are the key parties. such parties vary from good to bad times


In good times, there's only one driving force - seller.
In such hard times, there are 2 critical parties who will ensure completion of the transaction : (1) buyer (2) bank

The market will move from one point to the other.....now its somewhere towards point B but not there yet.

Dmon - totally agree with you. Friends from mortgage section have mentioned the same few months ago, but I didn't really think too much about it. Banks are looking at valuation indicated by their valuers, which is lower than 'selling price' and financing is x% of the valuation. X% is also lower than in the hay days......

[bargain hunter]

but nobody seems to know what's that white building near the temple. I did ask the worker and he told me that it's for praying. Buidling structure looks like a mosque.

If anyone is viewing any unit/staying in Park Infinia and knows exactly the use of the building, please pm me. otherwise rental will dip as i'm looking at park infinia for investment and later for own occupation.

I thought we'd have to wait half a year to find out what the white building is for, its been only 2 months and we can now confirm that its residential. The owner had indeed built it for his family and will appear in an interview in Sunday Times tomorrow. Potential buyers can now feel at ease bargain hunting for units at Park Infinia.

[dmonddd]

I thought we'd have to wait half a year to find out what the white building is for, its been only 2 months and we can now confirm that its residential. The owner had indeed built it for his family and will appear in an interview in Sunday Times tomorrow. Potential buyers can now feel at ease bargain hunting for units at Park Infinia.

finally the mystery is solved. but looking at the many choices nowadays, will not be that interested in Park infinia. anyway, good luck to u.

[ahlahdin]

I thought we'd have to wait half a year to find out what the white building is for, its been only 2 months and we can now confirm that its residential. The owner had indeed built it for his family and will appear in an interview in Sunday Times tomorrow. Potential buyers can now feel at ease bargain hunting for units at Park Infinia.

dude which sunday times article was that? don't remember reading it...

[bargain hunter]

dude which sunday times article was that? don't remember reading it...

Its in the Sunday Lifestyle section. An article about many generations living under one roof.

[ozoc_79]

Went there 2 weeks ago, selling @ $1250 psf. Fully furnished showflat, NS facing, supposedly no blockage of views.

Was told it was sold, but agent refused to disclose the price.

$1250 psf, steep or reasonable?