View Full Version : Discounts draw the crowds at Tampines showroom
http://www.straitstimes.com/premium/money/story/discounts-draw-the-crowds-tampines-showroom-20130114
Discounts draw the crowds at Tampines showroom
Published on Jan 14, 2013
By Daryl Chin And Melissa Pang
THE latest round of cooling measures did little to dampen the spirits of buyers at Q Bay Residences at Tampines, who were lured by attractive discounts on offer.
Although it is slated to launch only this Saturday, hundreds of people turned up yesterday at the showroom for the 630-unit project, which is a joint venture by Frasers Centrepoint, Far East Organization and Sekisui House.
Engineer Marcus Chin, 29, said he decided to drop by after a message from his agent promised a 22 per cent discount as part of a "pre-launch offer and stamp duty discount".
"It is quite a boon to get a discount, particularly if the latest measures don't affect me much," said the would-be first-time buyer.
Last Friday, the Government moved to curb speculation and foreign investor demand in a wide swathe of measures, but left first-timers largely untouched.
A spokesman for Frasers Centrepoint said it received more than 300 registrations of interest.
It was previously reported that agents quoted prices for the units at around $1,050 per sq ft, but some told The Straits Times yesterday on condition of anonymity that they could be priced even lower.
Those looking to invest, like human resource director Jessie Quah, were rather resigned.
She has to stump up 25 per cent in cash, up from 10 per cent previously, is restricted to borrowing less, and has to pay a 7 per cent additional buyer's stamp duty.
"I'm scaling down my expectations. Hopefully I can snag a decent place that I can rent out to supplement my retirement income in future," said the 51-year-old.
But Bangladesh national Shehabul Alam was undeterred. The orthopaedic surgeon was looking at a 517 sq ft one-bedroom unit for investment.
The additional stamp duty he pays for a second property has gone up from 10 to 15 per cent.
"Singapore is safe, has good laws and a stable economy. I believe my investment would be able to see some returns," he said.
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hundreds turn up? not chilly enough for them?
Either super rich or first timers!!!
Either super rich or first timers!!!
rich dad poor son.
hundreds turn up? not chilly enough for them?
Nonsence. Where got hundreds turn up????
I was there at 130PM on Sun, many more agents than buyer.
I could take my own sweet time to view the 2 bedder showrm, hardly anyone in the 2 bedder showrm, except slightly more viewing the Qbay model at the centre of the sales office
i am quite surprise most of the traffic seen at 3-bedder/4-bedder TRIO showrm.
Singaporean really fully loaded???
Nonsence. Where got hundreds turn up????
I was there at 130PM on Sun, many more agents than buyer.
I could take my own sweet time to view the 2 bedder showrm, hardly anyone in the 2 bedder showrm, except slightly more viewing the Qbay model at the centre of the sales office
i am quite surprise most of the traffic seen at 3-bedder/4-bedder TRIO showrm.
Singaporean really fully loaded???
If really have money will never look at small house...
Nonsence. Where got hundreds turn up????
I was there at 130PM on Sun, many more agents than buyer.
I could take my own sweet time to view the 2 bedder showrm, hardly anyone in the 2 bedder showrm, except slightly more viewing the Qbay model at the centre of the sales office
i am quite surprise most of the traffic seen at 3-bedder/4-bedder TRIO showrm.
Singaporean really fully loaded???
20 visitors per hour x 10 hours. including yourself, maybe that's how they got hundreds.
where is TRIO?
Nonsence. Where got hundreds turn up????
I was there at 130PM on Sun, many more agents than buyer.
I could take my own sweet time to view the 2 bedder showrm, hardly anyone in the 2 bedder showrm, except slightly more viewing the Qbay model at the centre of the sales office
i am quite surprise most of the traffic seen at 3-bedder/4-bedder TRIO showrm.
Singaporean really fully loaded???
The show room was packed when I was there in the evening time...
rymccondo77
15-01-13, 00:30
20 visitors per hour x 10 hours. including yourself, maybe that's how they got hundreds.
where is TRIO?
TRIO here refers to Fraser's brand name for Dual key units - the Qbay showroom featured DK units if I am not mistaken.
TRIO here refers to Fraser's brand name for Dual key units - the Qbay showroom featured DK units if I am not mistaken.
Thanks for clarifying. Classy name that. EC's dual key market has problem been diverted to PC market.
rymccondo77
15-01-13, 01:02
Frasers says that their TRIO concept is targeted at 'intergenerational' market, but also said this concept can be used by owners to rent out the studio apartment.
Frasers is in the EC market (e.g. Esparina, Twin Waterfalls) and is launching Twin Fountains EC in Woodlands this year (a JV with Lum Chang).
Not sure if the new EC rulings (on DK units, size of units) will affect Frasers's plans for this EC to be launched, but will affect its future involvement in the EC market.
Opp Qbay is waterview, and ave PSF is $900. Qbay price it at $1100 to $1200 PSF, even absorb the 7% stamp duty, ave PSF is still above $1000 to 1100. :doh: with this CM7, people still bite. This is no way near MRT.
Good thing comes to all who wait, hence be patient :47:
Frasers says that their TRIO concept is targeted at 'intergenerational' market, but also said this concept can be used by owners to rent out the studio apartment.
Frasers is in the EC market (e.g. Esparina, Twin Waterfalls) and is launching Twin Fountains EC in Woodlands this year (a JV with Lum Chang).
Not sure if the new EC rulings (on DK units, size of units) will affect Frasers's plans for this EC to be launched, but will affect its future involvement in the EC market.
Probably they'll build less since the target market is smaller
Opp Qbay is waterview, and ave PSF is $900. Qbay price it at $1100 to $1200 PSF, even absorb the 7% stamp duty, ave PSF is still above $1000 to 1100. :doh: with this CM7, people still bite. This is no way near MRT.
Good thing comes to all who wait, hence be patient :47:
To be frank after looking at the housing in Singapore.. It is really weird.. HDB being the cheapest normally have the better location.. Then it is EC, then DBSS then come PC...
Just like the recent visit to Riversails... When you alighted at Hougang, you will see all HDB first... then I slowly walk to Riversails... Then I see the DBSS and Heron Bay EC... Then further up it is Riversails... This is really funny....
In term of price it is
PC<-DBSS<-EC<-PC
but when I work from the MRT, you will see
HDB->EC->DBSS->PC
To be frank after looking at the housing in Singapore.. It is really weird.. HDB being the cheapest normally have the better location.. Then it is EC, then DBSS then come PC...
Just like the recent visit to Riversails... When you alighted at Hougang, you will see all HDB first... then I slowly walk to Riversails... Then I see the DBSS and Heron Bay EC... Then further up it is Riversails... This is really funny....
In term of price it is
PC<-DBSS<-EC<-PC
but when I work from the MRT, you will see
HDB->EC->DBSS->PC
That is intentionally done so , but lately few EC are at pretty decent locations.
NorthernStar
15-01-13, 08:40
Just like the recent visit to Riversails... When you alighted at Hougang, you will see all HDB first... then I slowly walk to Riversails... Then I see the DBSS and Heron Bay EC... Then further up it is Riversails... This is really funny....
In term of price it is
PC<-DBSS<-EC<-PC
but when I work from the MRT, you will see
HDB->EC->DBSS->PC
It is bcos of the Serangoon river i guess.. i went there for cycling, the environment along the Serangoon river is very good imo.
Opp Qbay is waterview, and ave PSF is $900. Qbay price it at $1100 to $1200 PSF, even absorb the 7% stamp duty, ave PSF is still above $1000 to 1100. :doh: with this CM7, people still bite. This is no way near MRT.
Good thing comes to all who wait, hence be patient :47:
Agree. People missed boat early and now deperate to jump on board even though others already gotten off. Money can't buy brains :doh:
Agree. People missed boat early and now deperate to jump on board even though others already gotten off. Money can't buy brains :doh:
Actually I almost bought a PC several times in the past 6 months as everyone is buying and it looks like it is going up...
Actually I almost bought a PC several times in the past 6 months as everyone is buying and it looks like it is going up...
Do you own any additional PC (other than your own residence)?
Do you own any additional PC (other than your own residence)?
I don't own anything.. Just holding to cash and waiting for the good time to buy.. It was a good week for me actually.. CM7 will at least cool the market down... Today suddenly say Single can buy new HDB... Maybe I will wait and see ba... You don't know what the government will announced tomorrow or when congress start to do something stupid... Basically I don't like too much loan... Once you have loan you are at the mercy of a lot of external factors... If really cannot, then I will apply a new HDB when I turned 35 bah... But if the price of PC went down a lot, I will still consider to buy PC... Maybe worth the money I feel... It is quite funny when people buy PC, don't they compared the price of the HDB next to their PC? For me even if upgrading, I will upgrade to a very very very big HDB rather than a small PC....
I don't own anything.. Just holding to cash and waiting for the good time to buy.. It was a good week for me actually.. CM7 will at least cool the market down... Today suddenly say Single can buy new HDB... Maybe I will wait and see ba... You don't know what the government will announced tomorrow or when congress start to do something stupid... Basically I don't like too much loan... Once you have loan you are at the mercy of a lot of external factors... If really cannot, then I will apply a new HDB when I turned 35 bah... But if the price of PC went down a lot, I will still consider to buy PC... Maybe worth the money I feel... It is quite funny when people buy PC, don't they compared the price of the HDB next to their PC? For me even if upgrading, I will upgrade to a very very very big HDB rather than a small PC....
You shouldn't be buying PC. You should be looking for a life-time partner first :p
You have probably 0.5-1 year of shopping for PC before the market starts to move up gradually again. There are rich parents around to support their children's new PC.
You shouldn't be buying PC. You should be looking for a life-time partner first :p
You have probably 0.5-1 year of shopping for PC before the market starts to move up gradually again. There are rich parents around to support their children's new PC.
Have life-time partner la.. Planning to get marry.. that is why looking for house... or else I will be happy single with no worries...
Have life-time partner la.. Planning to get marry.. that is why looking for house... or else I will be happy single with no worries...
If you don't see fire-sales (>10% off last caveat for similar units) in next 3 months, it means prices won't correct. Same as the last cooling measure. My bet is no correction since there is no large scale retrenchment, and the actual "correction" by developers are just their usual "discount" tricks.
You have probably 0.5-1 year of shopping for PC before the market starts to move up gradually again. There are rich parents around to support their children's new PC.
DPM Therman said in no uncertain term that unless prices soften, none of the temporary measures would be withdrawn. I could not imagine prices start to move up again within a year. If this is so, we can expect more cooling measures. The government is so determine to tame the property prices even to the extend of reducing economic growth. I think we can trust the government this time round.
DPM Therman said in no uncertain term that unless prices soften, none of the temporary measures would be withdrawn. I could not imagine prices start to move up again within a year. If this is so, we can expect more cooling measures. The government is so determine to tame the property prices even to the extend of reducing economic growth. I think we can trust the government this time round.
None of the cooling measures have been withdrawn so far, so there is not much significance in this statement. Additional 7% is probably the growth in psf for about year in good location, so by 2H of this year effect should start wearing out.
If you don't see fire-sales (>10% off last caveat for similar units) in next 3 months, it means prices won't correct. Same as the last cooling measure. My bet is no correction since there is no large scale retrenchment, and the actual "correction" by developers are just their usual "discount" tricks.
Just wait and see how loh.. We will never know what will happen what will happen tomorrow anyway... But at least in Singapore, it is still better than other place.. Even if the PC balloon out of reach, we will still have our HDB to fall back one.. Come worse to worse buy HDB... So I am really not in a rush to get into it... If PC crash, I will buy PC as it will be a good bargain... If PC don't crash, I will buy HDB...
Pikachu1245
15-01-13, 18:21
Frasers says that their TRIO concept is targeted at 'intergenerational' market, but also said this concept can be used by owners to rent out the studio apartment.
Frasers is in the EC market (e.g. Esparina, Twin Waterfalls) and is launching Twin Fountains EC in Woodlands this year (a JV with Lum Chang).
Not sure if the new EC rulings (on DK units, size of units) will affect Frasers's plans for this EC to be launched, but will affect its future involvement in the EC market.
Twin Waterfalls at Woodlands? Where got? Got meh?Is there?
Do you mean Twin Waterfalls at Punggol or Forestville at Woodlands?:beats-me-man:
Just wait and see how loh.. We will never know what will happen what will happen tomorrow anyway... But at least in Singapore, it is still better than other place.. Even if the PC balloon out of reach, we will still have our HDB to fall back one.. Come worse to worse buy HDB... So I am really not in a rush to get into it... If PC crash, I will buy PC as it will be a good bargain... If PC don't crash, I will buy HDB...
My sincere advice to you is : Think further ahead. Dont just look at present housing. Think PC as investment, generate passive income. Free you from working for others. Financial Independence. All these have to start now. Plan now and dont fall into a spiral of escalating prices that eats away your savings every year.
DKSG
My sincere advice to you is : Think further ahead. Dont just look at present housing. Think PC as investment, generate passive income. Free you from working for others. Financial Independence. All these have to start now. Plan now and dont fall into a spiral of escalating prices that eats away your savings every year.
DKSG
Thanks bro... To take a few hundred thousand loan for investment maybe too risky for me...
Thanks bro... To take a few hundred thousand loan for investment maybe too risky for me...
Then you have to make sure that :
Speed of money accumulation > Rate of PC price increase
And that is in absolute terms.
When you buy a PC, what happens is :
Rate of Debt increase 1.28% pa vs Rate of Property Price increase (say) 4%
The longer the time lapsed, the more you make.
Thats all a lowly Office Boy can share with you la!
All da best!
DKSG
Thanks bro... To take a few hundred thousand loan for investment maybe too risky for me...
bro, a senior once told me: high debt no good, low debt good, no debt also no good.
he taught me - first ppty buy cheap cheap, save fast fast buy 2nd ppty for investment and start growing your passive income.
rymccondo77
15-01-13, 22:29
Twin Waterfalls at Woodlands? Where got? Got meh?Is there?
Do you mean Twin Waterfalls at Punggol or Forestville at Woodlands?:beats-me-man:
I mentioned Twin FOUNTAINS at Woodlands (new EC to be launched), NOT Twin Waterfalls (which is in Punggol).
Both ECs by Frasers - for Twin FOUNTAINS its a JV between them and Lum Chang.
bro, a senior once told me: high debt no good, low debt good, no debt also no good.
he taught me - first ppty buy cheap cheap, save fast fast buy 2nd ppty for investment and start growing your passive income.
That one I agreed... but when borrowing really have to be careful.. The way bank is calculating interest is really power... I went to ask about a housing for 30 years.. After some calculation, it turned out for every 1 dollar I borrow, I will need to return 61 cent at the end of 30 years.... That is based on the current interest rate... Then I really wonder, can property appreciation really beat that in the next 30 years? But I think should be able to bah, since everyone is doing that.... But for me, it is my first property so hoping to take a little loan as possible...
I mentioned Twin FOUNTAINS at Woodlands (new EC to be launched), NOT Twin Waterfalls (which is in Punggol).
Both ECs by Frasers - for Twin FOUNTAINS its a JV between them and Lum Chang.
This one I see.. next to forestville.. and La Casa... I think have 5 EC there in total in the future as per what my agent informed me... but really far away from MRT... buy that one may as well buy the hdb next to MRT..
If really have money will never look at small house...
aboslutely right.. now ABSD is counted based on the number of properties you own.. so if were to invest in 1, might as well make it a big one
I don't own anything.. Just holding to cash and waiting for the good time to buy.. It was a good week for me actually.. CM7 will at least cool the market down... Today suddenly say Single can buy new HDB... Maybe I will wait and see ba... You don't know what the government will announced tomorrow or when congress start to do something stupid... Basically I don't like too much loan... Once you have loan you are at the mercy of a lot of external factors... If really cannot, then I will apply a new HDB when I turned 35 bah... But if the price of PC went down a lot, I will still consider to buy PC... Maybe worth the money I feel... It is quite funny when people buy PC, don't they compared the price of the HDB next to their PC? For me even if upgrading, I will upgrade to a very very very big HDB rather than a small PC....
how old r u?
That one I agreed... but when borrowing really have to be careful.. The way bank is calculating interest is really power... I went to ask about a housing for 30 years.. After some calculation, it turned out for every 1 dollar I borrow, I will need to return 61 cent at the end of 30 years.... That is based on the current interest rate... Then I really wonder, can property appreciation really beat that in the next 30 years? But I think should be able to bah, since everyone is doing that.... But for me, it is my first property so hoping to take a little loan as possible...
In 30 years you think property wont be double? or even triple the value?
the way central banks are printing money I think it will reach probably 4 or 5 times the current value..
You would super lucky if have to return 61 cents to a dollar..it will be more like 1-1.5$ for each $ borrowed when the interest rate rises..
No harm taking your time to buy.
Every month/quarter, prices move up 1% thereabouts, so paying 1-4% more if you wait another year or so shouldnt be a problem.
But dont wait 2-3 years la! Then you will be paying 10% more !
DKSG
Office boy so bullish I like! But u r right. Ppl should not expect inflation in prop prices to stop. Slow yes and that means its still going up.
http://www.singaporepropertycycle.com.sg/smallcharts/Singapore-Property-Price-Index.jpg (http://www.singaporepropertycycle.com.sg/property-cycles/singapore-property-cycle-summary-of-past-cycles/)
Perhaps, the property price index can help those who are not sure to make a decision.
Singapore real estate took off in 1990 and within just 23 years, we experience "4 peaks" or "cycles" including today. Those who bought in 1996 are still being punished largely considering the time value of money and opportunity cost. Those who had no holding power and bought in 2000 were also punished. Of course those who have long holding power and bought in the peak of 2000 would have been rewarded today.
With the price index "plateauing" now, those who bought over the last 3 years and may be making paper gain of 20% or 30% but are finding it difficult to find buyers base on today's asking price. Their "profits" if any are also erroded by seller's stamp duty.
Knowing that the upside (if any) is going to be limited with continuous government's interventions, we should be caution in property investment especially if one does not have long holding power.
If we are talking about the next 30 years, be prepared to experience at least another 4 cycles.
Timing the cycle can be difficult but buying at the right price and at the right time can be very rewarding.
http://www.singaporepropertycycle.com.sg/smallcharts/Singapore-Property-Price-Index.jpg (http://www.singaporepropertycycle.com.sg/property-cycles/singapore-property-cycle-summary-of-past-cycles/)
Perhaps, the property price index can help those who are not sure to make a decision.
Singapore real estate took off in 1990 and within just 23 years, we experience "4 peaks" or "cycles" including today. Those who bought in 1996 are still being punished largely considering the time value of money and opportunity cost. Those who had no holding power and bought in 2000 were also punished. Of course those who have long holding power and bought in the peak of 2000 would have been rewarded today.
With the price index "plateauing" now, those who bought over the last 3 years and may be making paper gain of 20% or 30% but are finding it difficult to find buyers base on today's asking price. Their "profits" if any are also erroded by seller's stamp duty.
Knowing that the upside (if any) is going to be limited with continuous government's interventions, we should be caution in property investment especially if one does not have long holding power.
If we are talking about the next 30 years, be prepared to experience at least another 4 cycles.
Timing the cycle can be difficult but buying at the right price and at the right time can be very rewarding.
In my mind, there is no more cycle now. After they print money like lunatic, they have killed natural economic cycles.
In my mind, there is no more cycle now. After they print money like lunatic, they have killed natural economic cycles.
Economic cycles come either naturally or through weak monetory policy. It is difficult to pin point what causes it sometime or most of the time. If it is not due to weak monetory policy than it must be natural. That is how economists earn their keeps.
Economic cycles come either naturally or through weak monetory policy. It is difficult to pin point what causes it sometime or most of the time. If it is not due to weak monetory policy than it must be natural. That is how economists earn their keeps.
Agreed. It's difficult to predict and know when exactly is a right time to enter. At least not to lay person like me.
But with the CM7 it's been a very interesting to read all the opinion and viewpoints in this forum and newspaper. Same situation as RCT, hoping I be able to get my first property at the right timing. :o Guess we have to monitor for the next couple months to come.
We are living in a world of inflation. Let says the the land price and construction price is constant, what will raise in time to come?
Labour cost and material cost will surely rise. No one would expect the pay to be stagnate for years and the raw materials are getting lesser for more use and without recycle. For these two factors, the cost for the builders will increase so they will pass these to the consumer.
A small country like Singapore, what can the government do to increase the land area? Reclaim the land? How much more can Singapore reclaim?
For these 3 factors, I believe the price for property will only increase if there are no major financial crisis. This is just only my belief.
From the chart, what we can say is, if property prices really dip, quickly CHEONGSTER buy !
Because we all notice that with each dip, the velocity of rebound get more fierce!
Good Luck!
Office Boy's office got many many people waiting for any slight correction, they immediately rush down with cheque book.
If you dont believe, just put up and ad, asking for 10% below the average of last 5 transactions.
DKSG
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