View Full Version : Has CCR property lost its shine?
It has been 5.5 years since the last major price correction in 2008, since then CCR has only surpass its peak by a mere 5% or around 1% per year. In comparison, OCR region has surpassed its last peak by around 45% or 8% per year.
I understand that many people in this forum feels that CCR properties are still the best bet for investment due its centralize location and concentration of higher income earners. But when we look at the price index of chart, it somehow paint a complete different picture.
So the question here is.
Why CCR property is struggling to surpass its peak in 2008 despite so many years of cheap mortgages, increasing population and number of millionaires.
What has change over the last 5 years that causes this dramatic shift?
Is this a result of government's decentralization effort? e.g moving of international schools and establishing new regional commercial centers?
Will this shift be permanent? ie. is this ultimately what the government wants to achieve?
Do note that although OCR index curve is higher than CCR, that doesnt mean that price is higher. It just an index, not price level.
http://img571.imageshack.us/img571/4445/j3wx.jpg
It's to do with the higher base.
A lot of the OCR action is now driven by upgraders or people trying their hand at owning a second property.
5% increase of a 2 mil CCR property is still $2.1 mil.
50% increase in an 800k OCR property is only $1.2 mil.
It all boils down to the quantum for this lot of OCR buyers, for whom CCR remains out of reach, not least with ABSD, TDSR etc.
It has been 5.5 years since the last major price correction in 2008, since then CCR has only surpass its peak by a mere 5% or around 1% per year. In comparison, OCR region has surpassed its last peak by around 45% or 8% per year.
I understand that many people in this forum feels that CCR properties are still the best bet for investment due its centralize location and concentration of higher income earners. But when we look at the price index of chart, it somehow paint a complete different picture.
So the question here is.
Why CCR property is struggling to surpass its peak in 2008 despite so many years of cheap mortgages, increasing population and number of millionaires.
What has change over the last 5 years that causes this dramatic shift?
Is this a result of government's decentralization effort? e.g moving of international schools and establishing new regional commercial centers?
Will this shift be permanent? ie. is this ultimately what the government wants to achieve?
Do note that although OCR index curve is higher than CCR, that doesnt mean that price is higher. It just an index, not price level.
http://img571.imageshack.us/img571/4445/j3wx.jpg
wah... a lot of question mark appear on your sentences.
you must be damm lonely to chain yourself on the keyboard.
why don't you go hong lim park to find kakis there to talk your heart out.
It's to do with the higher base.
A lot of the OCR action is now driven by upgraders or people trying their hand at owning a second property.
5% increase of a 2 mil CCR property is still $2.1 mil.
50% increase in an 800k OCR property is only $1.2 mil.
It all boils down to the quantum for this lot of OCR buyers, for whom CCR remains out of reach, not least with ABSD, TDSR etc.
5% of $2m is $100,000
50% of $800K is $400,000
The same could be said for CCR properties. It is also driven by upgraders who might move from HDB, OCR or RCR to CCR.
Quantum is relative to income. For a HNWI, their threshold will definitely be higher and thats why there are still buying activities despite CMs.
Funny...someone below was just recommending CCR property about 12 to 18 mths ago....
I wonder how those who had taken his advice has fared thus far...With so many questions on CCR's future , these poor souls would surely have lots to 'thank' the advice-giver for.
Posted in May/Jun 2012
I like you interpretation. For conservative investors, just pay a little bit more to get a CCR MM or 1 bedder. One of my favorite are those around little india mrt.
I think the idea of investing in CCR is very tempting, however with a $1m budget, what you can get in CCR will be all the left over crumbs, so when there is a over supply in the market, it might be very challenging for you to find tenants If you want to play safe, try to get something that is at least 2 bedders instead of a studio or 1 bedder. with 2 bedders you could possible rent to single or someone with a small family.
Funny...someone below was just recommending CCR property about 12 to 18 mths ago....
I wonder how those who had taken his advice has fared thus far...With so many questions on CCR's future , these poor souls would surely have lots to 'thank' the advice-giver for.
Posted in May/Jun 2012
u nid to understand tat in lives, we do not always get wat we want.
if we cannot get our 1st choice, we hv no choice but to settle for the next best.
but I do not believe in bashing/condemning one's 1st choice juz becos one failed to get it.
tat will lead me to conclude tat the person is too ungentleman & sour grapes :2cents:
It has been 5.5 years since the last major price correction in 2008, since then CCR has only surpass its peak by a mere 5% or around 1% per year. In comparison, OCR region has surpassed its last peak by around 45% or 8% per year.
Market can become irrational towards the end of a bubble, and price can deviate drastically from actual value when the market is manipulated by the largest land owner.
When pennies (blumont) can be worth more than blue chips, you know what is to come. All a bubble. :rolleyes:
Market can become irrational towards the end of a bubble, and price can deviate drastically from actual value when the market is manipulated.
When pennies (blumont) can be worth more than blue chips, you know what is to come. All a bubble. :rolleyes:
OCR property offers best capital gain and rental yield over the past 5 years or so, and government is also investing so much into OCR region, so how can you refer them as Penny stock?
Plus, its not to say that if OCR property crash, CCR is not going to be affected and vice versa.
Singapore is bluechip,
OCR property offers best capital gain and rental yield over the past 5 years or so, and government is also investing so much into OCR region, so how can you refer them as Penny stock?
Plus, its not to say that if OCR property crash, CCR is not going to be affected and vice versa.
Singapore is bluechip,
Rental yield is not guaranteed. There's a huge supply of brand new condos and HDB (reaching 5 years MOP) coming on stream over the next couple of years, coinciding with curbs on foreign PMET, company cost cutting.
The curb on PMET especially will target Asian expats earning $5k-$8k region that rent OCR and shoebox properties. Western expats earning above $12k that rent OCR will not be as affected.
Why does government invest in OCR region? Every property developer will try to keep the jewels and sell off the poorer holdings. For big developers like Far East, they keep the FH and sell off the LH, or even sell the lease on the FH property!
Rental yield is not guaranteed. There's a huge supply of brand new condos and HDB (reaching 5 years MOP) coming on stream over the next couple of years, coinciding with curbs on foreign PMET, company cost cutting.
The curb on PMET especially will target expats earning $5k-$8k region that rent OCR properties. Expats earning above $12k that rent OCR will not be as affected.
Why does government invest in OCR region? The rule in investment is keep the valuable and sell off the poorer holdings.
Rental yield data are public information which are available on URA website, and it is very clear the yield in OCR property are much better than CCR.
Why government invest in OCR? Many actually.
1) Ease congestion through decentralization commercial activities
2) Enhancing value of leasehold government land = more revenue for government
3) Wealth distribution to middle and lower class families
Rental yield is not guaranteed. There's a huge supply of brand new condos and HDB (reaching 5 years MOP) coming on stream over the next couple of years, coinciding with curbs on foreign PMET, company cost cutting.
The curb on PMET especially will target Asian expats earning $5k-$8k region that rent OCR and shoebox properties. Western expats earning above $12k that rent OCR will not be as affected.
Why does government invest in OCR region? Every property developer will try to keep the jewels and sell off the poorer holdings. For big developers like Far East, they keep the FH and sell off the LH, or even sell the lease on the FH property!
developers cant keep LH land because developer must develop the site within x number of years.
Rental yield data are public information which are available on URA website, and it is very clear the yield in OCR property are much better than CCR.
Why government invest in OCR? Many actually.
1) Ease congestion through decentralization commercial activities
2) Enhancing value of leasehold government land = more revenue for government
3) Wealth distribution to middle and lower class families
Congestion is usually one of the main reason for decentralization. However, I personally think the traffic and human congestion in Jurong, AYE is even more terrible than in the city area on average. Jurong East interchange is notorious. And with the new buildings coming up, the port moving to Tuas, more cars going to the second link, the future congestion will be unimaginable.
I live at Bishan Thomson area, this area so quiet, so few people, when I go to Jurong or Tampines, I thought I'm in another country. Boon Lay being the worst, the congestion is equivalent to tier one China city.
developers cant keep LH land because developer must develop the site within x number of years.
They can alway rent out. FEO has plenty of freehold property which they rent out or make into service apartments.
Congestion is usually one of the main reason for decentralization. However, I personally think the traffic and human congestion in Jurong, AYE is even more terrible than in the city area on average. Jurong East interchange is notorious. And with the new buildings coming up, the port moving to Tuas, more cars going to the second link, the future congestion will be unimaginable.
I live at Bishan Thomson area, this area so quiet, so few people, when I go to Jurong or Tampines, I thought I'm in another country. Boon Lay being the worst, the congestion is equivalent to tier one China city.
They can alway rent out. FEO has plenty of freehold property which they rent out or make into service apartments.
this thread is not about Jurong, its about CCR lousing its shine.
The reason why developers has to develop LH land is not because LH land are not worth keeping, they just cant and its not to say that the best land in Singapore are FH
this thread is not about Jurong, its about CCR lousing its shine.
Really, so are you saying that your advice given in May/Jun 2012 below is wrong and no longer valid ? What a major disappointment for your fans here.
I like you interpretation. For conservative investors, just pay a little bit more to get a CCR MM or 1 bedder. One of my favorite are those around little india mrt.
I think the idea of investing in CCR is very tempting, however with a $1m budget, what you can get in CCR will be all the left over crumbs, so when there is a over supply in the market, it might be very challenging for you to find tenants If you want to play safe, try to get something that is at least 2 bedders instead of a studio or 1 bedder. with 2 bedders you could possible rent to single or someone with a small family.
this thread is not about Jurong, its about CCR lousing its shine.
The reason why developers has to develop LH land is not because LH land are not worth keeping, they just cant and its not to say that the best land in Singapore are FH
Fine, maybe because the government and the developers are "pushing" OCR. Just like what the punters were doing to Blumont until last week.
Anyway, all is a bubble and bubble come to an end in a spectacular way.
Fine, maybe because the government and the developers are "pushing" OCR. Just like what the punters were doing to Blumont until last week.
Anyway, all is a bubble and bubble come to an end in a spectacular way.
Government is not pushing up the price by doing nothing, they are deveoping OCR to make it more valuable. E.g. relocating international schools from CCR to OCR is a good example because it will mean families will have to relocate to OCR. And this is something which investors should not take it lightly.
Property Investment Principle 101
Buy Low, Sell High!
When people say - wah! How come this Newton new launch is selling lower than Novena new launch - we buy Newton!
Either people think CCR is now low or OCR is too high.
Principle 102 - Price equilibrium in market will be restored over time.
So investors buy low and wait for market equilibrium to be restored.
Above only for knowledgeable investors - those who dont understand why Newton is higher value than Novena or Bishan/Thomson higher than Jurong need not respond.
DKSG
Property Investment Principle 101
Buy Low, Sell High!
When people say - wah! How come this Newton new launch is selling lower than Novena new launch - we buy Newton!
Either people think CCR is now low or OCR is too high.
Principle 102 - Price equilibrium in market will be restored over time.
So investors buy low and wait for market equilibrium to be restored.
Above only for knowledgeable investors - those who dont understand why Newton is higher value than Novena or Bishan/Thomson higher than Jurong need not respond.
DKSG
yes, its has been over 5 years since its last peak and price of CCR is now continuing its downward trend.
While you are waiting for the durian to drop in CCR, those investors who have put money into OCR are enjoying stellar growth of around 8% per year over the past 5 years.
As an "investor", I will tell you that if the region cannot recover despite the favorable interest rate and liquidity, going forward it can only get tougher.
unless God of Prosperity remove cooling measures. And every year that you spend hopelessly waiting will be one year less loan tenure.
like in any investment, the wiser investors would cut lost and move their money else where. Perhaps to places like J Gateway where they know that their investment be able to ride on the growth momentum of JLD.
Property 101? thats too elementary of the complex real world.
yes, its has been over 5 years since its last peak and price of CCR is now continuing its downward trend.
Strange. I bought a CCR in Sep 09 for 1050 psf, and the last done in Aug '13was 1621 psf.
Maybe it was the exception?
Agree it could go down from here, but certainly it wasn't going down over the last five years...
Strange. I bought a CCR in Sep 09 for 1050 psf, and the last done in Aug '13was 1621 psf.
Maybe it was the exception?
Agree it could go down from here, but certainly it wasn't going down over the last five years...
In Aug13 your CCR PC is done at 1621 psf ?!
If people are paying $1,6xx-$17xx for Jurong MM, they cannot understand.
Government is helping aspiring people who can afford to give them a window to upgrade to CCR. Which is the aspiration of many middle income Singaporeans. Imagine if you can sell your Tiong Bahru PC for $1,7xx psf (again $17xx psf for Tiong Bahru PC! - same price as Jurong MM !!) and move to River Valley at $2,0xx, why not ? Right ?
So readers who can afford should seriously consider this small step big reward upgrading. There is that long the government can keep the floodgate of foreigners coming in.
When you see international news that Singapore is one of the best place to work and live in, do they think they are making references to Jurong ? nonononono ... they meant D1,9,10,11 ...
Property Investment Princple 101
BUY LOW, SELL HIGH!
OCR High now - Sell!
CCR Low now - BUY!
If the opposite is true, say, CCR is now HIGH (like in 2008)---> then SELL !
Dont buy dont sell is ok, but just dont Buy HIGH scream like a wailing Hungry Ghost every day and night.
DKSG
Strange. I bought a CCR in Sep 09 for 1050 psf, and the last done in Aug '13was 1621 psf.
Maybe it was the exception?
Agree it could go down from here, but certainly it wasn't going down over the last five years...
Self explanatory. Anybody who bought right after the lehman crisis would have made money. But since then OCR has continued to surge pass its 08 peak by more than 45%.
http://img571.imageshack.us/img571/4445/j3wx.jpg
Strange. I bought a CCR in Sep 09 for 1050 psf, and the last done in Aug '13was 1621 psf.
Maybe it was the exception?
Agree it could go down from here, but certainly it wasn't going down over the last five years...
So people ask you to cut loss ar !
Sell your CCR PC at $1621 psf and buy a few Jurong MM at $1,6xx psf ?!
Will you do this kinda of things ?
What you are more likely to do is to sell the Jurong MMs at $1,6xx and buy CCR PC (even if need to sell 2-3 to buy one) at $1,6xx psf. Right ?
Tio bo ?
DKSG
In Aug13 your CCR PC is done at 1621 psf ?!
If people are paying $1,6xx-$17xx for Jurong MM, they cannot understand.
Government is helping aspiring people who can afford to give them a window to upgrade to CCR. Which is the aspiration of many middle income Singaporeans. Imagine if you can sell your Tiong Bahru PC for $1,7xx psf (again $17xx psf for Tiong Bahru PC! - same price as Jurong MM !!) and move to River Valley at $2,0xx, why not ? Right ?
So readers who can afford should seriously consider this small step big reward upgrading. There is that long the government can keep the floodgate of foreigners coming in.
When you see international news that Singapore is one of the best place to work and live in, do they think they are making references to Jurong ? nonononono ... they meant D1,9,10,11 ...
Property Investment Princple 101
BUY LOW, SELL HIGH!
OCR High now - Sell!
CCR Low now - BUY!
If the opposite is true, say, CCR is now HIGH (like in 2008)---> then SELL !
Dont buy dont sell is ok, but just dont Buy HIGH scream like a wailing Hungry Ghost every day and night.
DKSG
Readers?
Aiyo give some respect lah. Want attention as least address them as fellow property investors. What READER?
If you need to wait 5.5 years to recover from peak despite favorable interest rate and liquidity, then you better sell.
Readers?
Aiyo give some respect lah. Want attention as least address them as fellow property investors. What READER?
If you need to wait 5.5 years to recover from peak despite favorable interest rate and liquidity, then you better sell.
If CCR needs 5.5 years to recover from whereever, Jurong will certainly take another 20 years to surpass $1,7xx psf.
But then, not everyone can understand the theory of price equilbrium in Singapore property market.
DKSG
If CCR needs 5.5 years to recover from whereever, Jurong will certainly take another 20 years to surpass $1,7xx psf.
But then, not everyone can understand the theory of price equilbrium in Singapore property market.
DKSG
Your theory have failed you many times before, so based on your track record over the past 3 to 4 month, anyone who do the opposite of what yu said will have a higher chance of making the right investment decision.
CCR MM apartment are already in the region of >$3500psf, so $1700psf is nothing to shout about.
In Aug13 your CCR PC is done at 1621 psf ?!
If people are paying $1,6xx-$17xx for Jurong MM, they cannot understand.
Government is helping aspiring people who can afford to give them a window to upgrade to CCR. Which is the aspiration of many middle income Singaporeans. Imagine if you can sell your Tiong Bahru PC for $1,7xx psf (again $17xx psf for Tiong Bahru PC! - same price as Jurong MM !!) and move to River Valley at $2,0xx, why not ? Right ?
Agree, DKSG. Which was what I did in 2009. I'm just a working class boy. But sold my OCR at 859 psf (low now on hindsight!), but allowed me to jump to District 9, and also a bigger apt, for just 1050 psf.
If CCR needs 5.5 years to recover from whereever, Jurong will certainly take another 20 years to surpass $1,7xx psf.
But then, not everyone can understand the theory of price equilbrium in Singapore property market.
DKSG
I made a terrible mistake!
I said I will not reply to people who cannot understand normal human aspirations. Yet I did it.
I apologise!
For that, I stay back office 10 more mins to make it up.
Hahaaa!
Boss go home already! I wanna go home NOW!
DKSG
I made a terrible mistake!
I said I will not reply to people who cannot understand normal human aspirations. Yet I did it.
I apologise!
For that, I stay back office 10 more mins to make it up.
Hahaaa!
Boss go home already! I wanna go home NOW!
DKSG
glad you brought that up as I have mentioned before dont let the troll fool you into believe that human aspiration is limited to people buying or living within CCR
The chart shows OCR has peaked while CCR has bottomed as massive supplies of new BTO and condos in OCR coming in next few years. FH CCR supply remains limited, and once the next upturn cycle comes, it will first to cheong
http://img571.imageshack.us/img571/4445/j3wx.jpg
The chart shows OCR has peaked while CCR has bottomed as massive supplies of new BTO and condos in OCR coming in next few years. FH CCR supply remains limited, and once the next upturn cycle comes, it will first to cheong
No, this chart doesnt show the price of OCR has peaked, it shows that price is still rising, hitting record high in last quarter. As for RCR and CCR, its price recovery has started to stall.
Talking about supply only give you half the story, you need to also factor in the demand, e.g newly wed or new citizens. Without putting 2 numbers together, it will be impossible to tell how bad is the over supply.
With existing cooling measures in place its very unlikely to see any upswing. And with international school moving out of CCR, it will again put more pressure on the rental demand for CCR, especially large homes.
No, this chart doesnt show the price of OCR has peaked, it shows that price is still rising, hitting record high in last quarter. As for RCR and CCR, its price recovery has started to stall.
Talking about supply only give you half the story, you need to also factor in the demand, e.g newly wed or new citizens. Without putting 2 numbers together, it will be impossible to tell how bad is the over supply.
With existing cooling measures in place its very unlikely to see any upswing. And with international school moving out of CCR, it will again put more pressure on the rental demand for CCR, especially large homes.
OCR is already losing one big chunk of HDB upgraders. I m guessing new sales will still go, but those OCR that TOP, good luck to them. Resale will get worse and worse, and so will rental.
OCR is already losing one big chunk of HDB upgraders. I m guessing new sales will still go, but those OCR that TOP, good luck to them. Resale will get worse and worse, and so will rental.
Your analysis is very sharp and most people agree.
Those who dont agree can speak up.
DKSG
proud owner
09-10-13, 00:25
It's to do with the higher base.
A lot of the OCR action is now driven by upgraders or people trying their hand at owning a second property.
5% increase of a 2 mil CCR property is still $2.1 mil.
50% increase in an 800k OCR property is only $1.2 mil.
It all boils down to the quantum for this lot of OCR buyers, for whom CCR remains out of reach, not least with ABSD, TDSR etc.
I don't quite understand ...
the guy who paid 2mio for CCr makes 100k
the guy who paid 800k for OCR makes 400k
that's good wat for OCR
OCR is already losing one big chunk of HDB upgraders. I m guessing new sales will still go, but those OCR that TOP, good luck to them. Resale will get worse and worse, and so will rental.
I am not exactly sure which big chunk of HDB upgraders you are referring to, but from what I have read, the new HDB restriction on SPR will actually drive more SPR towards buying OCR PC instead of resale HDB. Plus as long as GLS remain strong and developers are not giving out massive discount for OCR property, then price should remain stable.
If you are saying that the fundamental driver of OCR property are driver by HDB upgraders then it shouldnt be a concern if PC TOP because it will be taken up by owners for own use. And there is actually no data to shows that rents are coming down in OCR district.
Having said that, this thread is not really about how OCR will perform, but asking the question as to why CCR has been under performing over the past 5 years. And given what you said above, it is definitely not going to help in boosting CCR property prices in anyway.
CCR never loose it shine. jut the no. of people that can afford is less. less transaction dont mean its not desired mah.
CCR never loose it shine. jut the no. of people that can afford is less. less transaction dont mean its not desired mah.
yeah ...
likewise more ppl buying OCR doesn't make it a better location. It's simply means the quantum is more affordable, tats all ~
My guess is that "smart" money is pulling out of properties. Thats why CCR lost its shine first. The not so "smart" money will then follow and soon pull out of properties in RCR and OCR. The quantum story obviously supports the OCR. However, I do not think this is a sustainable story if the entire property market lose its shine in general.
My guess is that "smart" money is pulling out of properties. Thats why CCR lost its shine first. The not so "smart" money will then follow and soon pull out of properties in RCR and OCR. The quantum story obviously supports the OCR. However, I do not think this is a sustainable story if the entire property market lose its shine in general.
gd for those who still hv bullets to enter the market for some bargain hunts ... & gd luck to those who paid at record high.
Remove absd and tdsr, ccr will regain its shine again.
Remove absd and tdsr, ccr will regain its shine again.
I doubt it will happen b4 2015.
My guess is that "smart" money is pulling out of properties.
I think this is the best explanation. Also, smart money has got many choices. For example, UK properties with the weak pound and recovering UK economy is much more attractive than SG properties.
The Blumont, 3 pennies saga has shown as that unrealistic prices not backed by real fundamentals can be sustained by a reasonably long period of time.
Make it 2016 the election year
The world has change. USA as the generous sugar daddy of the world is being relaced by China, a no nonsense utilitarian. CCR is a dinosaurs, especially the big quantum units. It serves more to ego than its usefulness. The way chinese and westerner looking at wealth is a bit different. Chinese prefer 2 smaller apartments earning good rental than 1 luxury apartment to live in and enjoy. Making money is at the heart of chinese concept of happiness. For westerner, enjoying living is the core of happiness. From now on every dollar is a hard earned. The party is over. Even a rich man is not comfortable to stay in luxury housing anymore. Unless there is a perceived value in it.
The world has change. USA as the generous sugar daddy of the world is being relaced by China, a no nonsense utilitarian. CCR is a dinosaurs, especially the big quantum units. It serves more to ego than its usefulness. The way chinese and westerner looking at wealth is a bit different. Chinese prefer 2 smaller apartments earning good rental than 1 luxury apartment to live in and enjoy. Making money is at the heart of chinese concept of happiness. For westerner, enjoying living is the core of happiness. From now on every dollar is a hard earned. The party is over. Even a rich man is not comfortable to stay in luxury housing anymore. Unless there is a perceived value in it.
Disagreed. The ego business is always there. China is now consuming more luxury cars than before. Property is a interesting asset. It can be both consumption and investment at the same time. So, a wealthy chinese is still going to stay in a luxury house but may buy smaller homes for pure investments. Rich man is not comfortable in staying in small homes. That, I am very sure.
CCR never loose it shine. jut the no. of people that can afford is less. less transaction dont mean its not desired mah.
Actually the no of HNWI in Singapore has been rising steadily over the past few years and last year we actually see a record numbers. However despite of that, it still doesnt translate into rising transaction nor record price for luxury apartment.
http://sbr.com.sg/economy/in-focus/singapores-high-net-worth-individuals-now-worth-combined-489-billion
Perhaps there is really an oversupply of CCR property in the market and despite its falling price (for big larger apartment), there are still not many buyers in the market. In the past, it might be easier for investors and owners to justify the higher cost of living or holding because of good potential for capital gain, but now with CMs, buying activities by foreigners and rich investors has taken a big dip
Perhaps there are also other factors like low rent yield, lack of international schools and establishing of more regional center, and expanding MRT network in OCR that is attracting more investors away from CCR.
Having said that, CCR will still be the place where rich and wealthy will live, however that are only certain area within CCR that are attractive to these group of buyers.
Disagreed. The ego business is always there. China is now consuming more luxury cars than before. Property is a interesting asset. It can be both consumption and investment at the same time. So, a wealthy chinese is still going to stay in a luxury house but may buy smaller homes for pure investments. Rich man is not comfortable in staying in small homes. That, I am very sure.
I am talking about the future trend here. Not the current trend.
The world has change. USA as the generous sugar daddy of the world is being relaced by China, a no nonsense utilitarian. CCR is a dinosaurs, especially the big quantum units. It serves more to ego than its usefulness. The way chinese and westerner looking at wealth is a bit different. Chinese prefer 2 smaller apartments earning good rental than 1 luxury apartment to live in and enjoy. Making money is at the heart of chinese concept of happiness. For westerner, enjoying living is the core of happiness. From now on every dollar is a hard earned. The party is over. Even a rich man is not comfortable to stay in luxury housing anymore. Unless there is a perceived value in it.
As you rightly pointed out, making money is at the heart of chinese concept of happiness and that is exactly why we are not seeing Singaporeans chinese selling their investment properties to move into large CCR district to enjoy life.
The other factor that is hitting CCR hard is that international schools are moving out of OCR. E.g. CIS is now in Jurong, Dulwich College will based in Bukit Batok, and Overseas Family Schools which has around 3700 students, currently located at Grange Road will be moving to Pasir Ris.
And many people are under estimating the impact kids on expat families.
Now is a good time to sell CCR. Especially if u are still servicing loan.
I am talking about the future trend here. Not the current trend.
I think you have never lived in China.
The youngsters in China are very good at spending money and living the high life. Especially those single child ones with rich parents.
In Singapore, on the other hand, I have known investors living in HDB 3-room flat and renting out their fully paid up bungalows.
I think you have never lived in China.
The youngsters in China are very good at spending money and living the high life. Especially those single child ones with rich parents.
In Singapore, on the other hand, I have known investors living in HDB 3-room flat and renting out their fully paid up bungalows.
I never lived in China. But I am living in Indonesia and the condition is quite similar. Soon the spoiled rich brat will squander their wealth and unable to compete. U know which asset to sell first? Their high end property.
Bet your money on the working class, not the rich elite. The wind has changed.
Disagreed. The ego business is always there. China is now consuming more luxury cars than before. Property is a interesting asset. It can be both consumption and investment at the same time. So, a wealthy chinese is still going to stay in a luxury house but may buy smaller homes for pure investments. Rich man is not comfortable in staying in small homes. That, I am very sure.
Singapore is no Monaco, for CCR as a region to prosper, it will still need middle and upper middle class Singaporeans as a based to support the price level.
Ego trip at the highest order in Singapore, you will be looking at GCBs where they buy tear down and engage a well known architect to design and build the most happening house to show off to their neighbors. Even in that segment of the market, thing has also slowed down and prices of detached housing are starting to soften.
For investment, it will be easier to make money from products targeting as masses rather than luxury products for niche market segment.
It may takes 50 years for somebody to aspire something. But it takes 5 minutes for that aspiration to expire, once u owned it.
only 2000+ GCBs in Singapore vs untapped supply of LH OCR land to build BTO and Condo where gov can turn on to flood market.. so OCR condos are pegged to neighbouring HDBs in long run whereas GCB is pegged to growth of high networth individuals wealth.
It may takes 50 years for somebody to aspire something. But it takes 5 minutes for that aspiration to expire, once u owned it.
The aspiration is not to own it but pass it down for next generations to come
only 2000+ GCBs in Singapore vs untapped supply of LH OCR land to build BTO and Condo where gov can turn on to flood market.. so OCR condos are pegged to neighbouring HDBs in long run whereas GCB is pegged to growth of high networth individuals wealth.
Price is a function of supply and demand, hence looking at supply alone is not good enough to tell you what are the up or downside. And its is known facts that during a downturn, landed property are the first to get hit.
AFAIK, there are no mechanism in the system the pegged PC to HDB flat, as PC price is determine by how much developers bid during GLS, whoever that tells you otherwise must be smoking you.
Jonathan0503
09-10-13, 13:30
Really, so are you saying that your advice given in May/Jun 2012 below is wrong and no longer valid ? What a major disappointment for your fans here.
I don't think you will get a response for this for obvious reasons
Disagreed. The ego business is always there. China is now consuming more luxury cars than before. Property is a interesting asset. It can be both consumption and investment at the same time. So, a wealthy chinese is still going to stay in a luxury house but may buy smaller homes for pure investments. Rich man is not comfortable in staying in small homes. That, I am very sure.
Not many people can understand the rise of China and its impact on Singapore properties. Rich chinese buy up lotsa CCR FREEHOLD FREEHOLD FREEHOLD properties. They can park their money here safely and can leave the property to their children!
Not many people understand the meaning of aspiration. Or refused to understand. But if you give them a free unit and ask them choose between Orchard and Jurong, they choose Orchard.
DKSG
Bet your money on the working class, not the rich elite. The wind has changed.
Yes! Many bets on the working class alrready, including the working class themselves.
But I also hope that there is a chance to grab a FREEHOLD CCR PC at a price similiar to OCR 99LH! But then, who doesnt ?
DKSG
Not many people can understand the rise of China and its impact on Singapore properties. Rich chinese buy up lotsa CCR FREEHOLD FREEHOLD FREEHOLD properties. They can park their money here safely and can leave the property to their children!
Not many people understand the meaning of aspiration. Or refused to understand. But if you give them a free unit and ask them choose between Orchard and Jurong, they choose Orchard.
DKSG
Many rich Chinese are also buying Sentosa LH99 landed property build on reclaim land. Does it mean that property investors should also rush into buy Sentosa? :D
Want to make money, dont follow what rich people are buying, because they are not in it to make money, they are there to enjoy life.
So dont let people in this forum tell you otherwise.
walkthetiger
09-10-13, 14:23
Want to make money, dont follow what rich people are buying, because they are not in it to make money, they are there to enjoy life.
...Please pay attention on how the riches got there and stay on top of the food-chain...
...Please pay attention on how the riches got there and stay on top of the food-chain...
pay attn. oso no use. he has no chance to be there. he has alrdy show hand his final bullets in JG.
Price is a function of supply and demand, hence looking at supply alone is not good enough to tell you what are the up or downside. And its is known facts that during a downturn, landed property are the first to get hit.
AFAIK, there are no mechanism in the system the pegged PC to HDB flat, as PC price is determine by how much developers bid during GLS, whoever that tells you otherwise must be smoking you.
The way it is pegged is as follows: With +ve equity from the sale of HDBs, upgraders buy neighbouring condo unit of a equivalent size so if OCR condo prices shoot up much faster than neighbouring HDBs, this property ladder will be broken
The way it is pegged is as follows: With +ve equity from the sale of HDBs, upgraders buy neighbouring condo unit of a equivalent size so if OCR condo prices shoot up much faster than neighbouring HDBs, this property ladder will be broken
The price of property across all asset classes are interlinked, but its not to say its pegged. And if you follow the chain, you will see that they are linked to the each others, but that doesnt mean that price of all asset class has to move in tandem.
One good example if the decline of HDB COV and the rising in OCR private property prices in recent months.
...Please pay attention on how the riches got there and stay on top of the food-chain...
They invest in businesses and companies.
They dont flip properties to get there.
One good example if the decline of HDB COV and the rising in OCR private property prices in recent months.
Precisely! this is a bad omen for OCR condos - less singaporeans will have the +ve equity to upgrade from HDBs.
That's what voters ask for.. Look at how quiet opposition is.. Wonder what will they say in 2016.
That's what voters ask for.. Look at how quiet opposition is.. Wonder what will they say in 2016.
Government goal is to make new BTO HDB better and cheaper for first timer as a way to win back the confidence of the voters. I think moving forward, HDB price will be flat while selective mass market PC in regional centers like Tampines, Jurong Paya Lebar and Seletar etc will continue to surge ahead because government is pumping a lot of money in building new MRT lines and regional commercial center.
OCR private property prices are always a function of the earning power ("salary") of people living in that vicinity + the selling price of the resale HDB flats for these HDB upgraders.
Resale HDB prices is a function of the new BTO HDB prices. If not, people can buy HDB BTO at $200k and sell at $1m 5 years later! You think that is possible?
So, if new HDB BTO prices too much supply and too cheap, there will be very little demand for resale HDB, thus affecting resale HDB prices. When these HDB upgraders cannot sell their resale HDB flats at higher prices, they will lower budget to buy a replacement private condos. So, private condos in OCR is destined for a downfall a few years down the road, simple logic as that! :doh:
If you want OCR condo prices to continue to go up, better ask govt to stop building new HDB BTO flats! Remove all those CMs on HDB flats renting! Ensure that the middle-income HDB upgraders got huge salary increment for next few years!
Government goal is to make new BTO HDB better and cheaper for first timer as a way to win back the confidence of the voters. I think moving forward, HDB price will be flat while selective mass market PC in regional centers like Tampines, Jurong Paya Lebar and Seletar etc will continue to surge ahead because government is pumping a lot of money in building new MRT lines and regional commercial center.
OCR private property prices are always a function of the earning power ("salary") of people living in that vicinity + the selling price of the resale HDB flats for these HDB upgraders.
Resale HDB prices is a function of the new BTO HDB prices. If not, people can buy HDB BTO at $200k and sell at $1m 5 years later! You think that is possible?
So, if new HDB BTO prices too much supply and too cheap, there will be very little demand for resale HDB, thus affecting resale HDB prices. When these HDB upgraders cannot sell their resale HDB flats at higher prices, they will lower budget to buy a replacement private condos. So, private condos in OCR is destined for a downfall a few years down the road, simple logic as that! :doh:
If you want OCR condo prices to continue to go up, better ask govt to stop building new HDB BTO flats! Remove all those CMs on HDB flats renting! Ensure that the middle-income HDB upgraders got huge salary increment for next few years!
BTO are usually build in non mature estate like Punggol Sengkang etc and these are targeted primary at first timer applicants. Hence it is wrong to say the resale flat price is a function of BTO because in many matured estate, there are practically very little BTO and even for BTO, they will not be in the resale market for at least 5 years, and every year, there will be old HDB flats being torn down through SERS.
BTO is a government gift to the people of Singapore and it doesnt mean that BTO when bought cheap from the government through subsidies, it will be sold cheap after the 5 years MOP.
Decentralizing effort by government are pushing companies, schools and other services out of the central region. As a result, there will be an increase number of higher income earner moving to OCR. A good example will be an expat families with kids. If their schools are moving from CCR to OCR, the entire family will have to follow to OCR.
And with the massive transport network expansion coming up, many OCR property prices will get a big boost when the alignment of the new JRL, CRL, ERL stations are announced.
http://3.bp.blogspot.com/-f00Snfe4Paw/UQ4GROJWp-I/AAAAAAAAQ2g/VUVzRpKzwlE/s1600/Rail+network+2030.jpg
Plus lets not forget about the many regional center mentioned in the land use plan..
http://www.mnd.gov.sg/LandUsePlan/theme/default/image/cnt_support_n_create_good_jobs_for_singaporeans_org_1.jpg
guys, honestly, cut him some slacks la. actually he tio chop carrot is aldy very unfortunate so lets be mercifully n stop rubbing salt into his wounds.
he can cont'd boasting how gd JLD is, but no matter how gd he paint the picture to be, he can nvr change the fact tat he has commited to a pricey investment. no amt of sales talk can allow him to rectify his wrong judgement. no doubt tat there r gd bargains recently but do note tat not everyone has the means to invest further to mitigate the effect of previous bad decision.
I think EC is not very right. Public subsidize land prices for condo amenities.
EC is to allow those who already earn so much and not eligible to buy HDB flats to profit from huge premium when EC achieve private condos status 10 years later! In turn the subsidy which can be used to help poorer Sinkies to buy cheaper HDB BTO flats become used for ECs, a group of people whose income is high enough that they should not get any subsidy in the first place!
I think EC is not very right. Public subsidize land prices for condo amenities.
guys, honestly, cut him some slacks la. actually he tio chop carrot is aldy very unfortunate so lets be mercifully n stop rubbing salt into his wounds.
he can cont'd boasting how gd JLD is, but no matter how gd he paint the picture to be, he can nvr change the fact tat he has commited to a pricey investment. no amt of sales talk can allow him to rectify his wrong judgement. no doubt tat there r gd bargains recently but do note tat not everyone has the means to invest further to mitigate the effect of previous bad decision.
No so long ago, you were asking why I keep talking about JLD in every thread. And now, I see you doing the exact same thing as DKSG.
You must be one hell of a bootlicker to be able to carry out a stun like this. How much are you being paid to do the dirty job?
No so long ago, you were asking why I keep talking about JLD in every thread. And now, I see you doing the exact same thing as DKSG.
You must be one hell of a bootlicker to be able to carry out a stun like this. How much are you being paid to do the dirty job?
yr top priority task is now to tink of a way to get yrself out of yr shi-ty overpriced JG, n not kaypo at how forummers here tcss :doh:
btw, r u aware tat u r rude n ill mannered?
u dun hv parents to teach u proper manners issit?
yr top priority task is now to tink of a way to get yrself out of yr shi-ty overpriced JG, n not kaypo at how forummers here tcss :doh:
btw, r u aware tat u r rude n ill mannered?
u dun hv parents to teach u proper manners issit?
you sounded very much like Regulators in disguise actually because there isnt many people in this forum will simply talk about parents the way Regulators did today. And there is no reasons why you will suddenly feel so offended and start using offensive language the way Regulators did today.
Troll will always be troll regardless how much you try.
guys, honestly, cut him some slacks la. actually he tio chop carrot is aldy very unfortunate so lets be mercifully n stop rubbing salt into his wounds.
he can cont'd boasting how gd JLD is, but no matter how gd he paint the picture to be, he can nvr change the fact tat he has commited to a pricey investment. no amt of sales talk can allow him to rectify his wrong judgement. no doubt tat there r gd bargains recently but do note tat not everyone has the means to invest further to mitigate the effect of previous bad decision.
Yea. Agree.
Actually, if those $16xx-$17xx Jurong MM buyers talk to people here before their OTP expire, they would have gotten a chance to back out of the purchase and now can buy a Bishan/Thomson/Hougang/Kovan at nearly the same or lower price.
But sometimes, pride is the murderer of the bank account.
SunBoy says Duo may launch some units at below $2,000 psf !
Cannot believe Bugis new launch price can start from just $200 above the highest psf Jurong MM !!!
DKSG
yr top priority task is now to tink of a way to get yrself out of yr shi-ty overpriced JG, n not kaypo at how forummers here tcss :doh:
btw, r u aware tat u r rude n ill mannered?
u dun hv parents to teach u proper manners issit?
Some type of people, parents very hard to teach one.
Imagine parents tell the child that Newton PCs more valuable than Novena PCs, and the child spit at the parents and ask them to shut up ?! Seen chewren like these ?
DKSG
you sounded very much like Regulators in disguise actually because there isnt many people in this forum will simply talk about parents the way Regulators did today. And there is no reasons why you will suddenly feel so offend and start using offensive language the way Regulators did today.
I definitely got far gd manner den u. Juz ask anyone out here.
U r unhappy coz I reopen yr wounds again rite? :D
So u noe wats the moral?
Dun ever attempt to argue yr way out wif a woman, cos u will nvr defeat them!
I definitely got far gd manner den u. Juz ask anyone out here.
U r unhappy coz I reopen yr wounds again rite? :D
So u noe wats the moral?
Dun ever attempt to argue yr way out wif a woman, cos u will nvr defeat them!
Is it because the mouth can never shut?
Some type of people, parents very hard to teach one.
Imagine parents tell the child that Newton PCs more valuable than Novena PCs, and the child spit at the parents and ask them to shut up ?! Seen chewren like these ?
DKSG
Mayb his parents got asked him not to pay so much for JG, but he being ungrateful retorted, 老不死的， 你给我闭嘴! :p
Mayb his parents got asked him not to pay so much for JG, but he being ungrateful retorted, 老不死的， 你给我闭嘴! :p
You forgot the slaps and raining punches ... just like those TVB HK Dramas.
DKSG
You forgot the slaps and raining punches ... just like those TVB HK Dramas.
DKSG
dunno got rob them of their coffin $ to pay for the dp of JG onot :( :simmering:
Mermaid, are you really a WOMEN, or are you a man pretending to be a women in this forum.
Is it because by claiming yourself as a women, people will not suspect that you are using a fake account?
Decentralizing effort by government are pushing companies, schools and other services out of the central region. As a result, there will be an increase number of higher income earner moving to OCR. A good example will be an expat families with kids. If their schools are moving from CCR to OCR, the entire family will have to follow to OCR.
Yes, there expat family that moves to OCR look for space and tranquility and clean air to raise their kids - hence they look for clustered houses/penthouses/colonial landed for rental. They are not keen to know whether the OCR nearby malls sell coach bags
The expats who send their kids to international schools (>2k/head/mth sch fees) have generous allowances and european lifestyle so they are unlikely to move jurong Jgateway squeezy condos units
Yes, there expat family that moves to OCR look for space and tranquility and clean air to raise their kids - hence they look for clustered houses/penthouses/colonial landed for rental. They are not keen to know whether the OCR nearby malls sell coach bags
The expats who send their kids to international schools (>2k/head/mth sch fees) have generous allowances and european lifestyle so they are unlikely to move jurong Jgateway squeezy condos units
My company got so many expats, children school in Woodlands, family stay Orchard Road. Not all nationalities think like Singaporean and want to stay within 1km of the school. This thinking is pure local thinking.
DKSG
Yes, there expat family that moves to OCR look for space and tranquility and clean air to raise their kids - hence they look for clustered houses/penthouses/colonial landed for rental. They are not keen to know whether the OCR nearby malls sell coach bags
The expats who send their kids to international schools (>2k/head/mth sch fees) have generous allowances and european lifestyle so they are unlikely to move jurong Jgateway squeezy condos units
AFAIK, Canandian International School and future Dulwich College are both located in the west, both within 3 km radius of JLD. As far as tenants are concern, there is already a surge in expat family living around JLD because of CIS.
So I am not sure who exactly are you trying to convinced with such statement. Plus, if you are buying a mass market condo, your target market should be mid level executive or expat on local terms. Why bother to think or hope that someone CEO will pay you $10k per month to rent a 3 bedder in Jurong?
Again, if you want to make comparison, please do it with some logic. And if you dont believe what I said, you can always call up agents or perhaps go to CIS and see how many maids actually walk their employer's kids to school. (These are FACTS, not stories)
My company got so many expats, children school in Woodlands, family stay Orchard Road. Not all nationalities think like Singaporean and want to stay within 1km of the school. This thinking is pure local thinking.
DKSG
Usually the case - 9 out of 10 expats i know stay in town. The only one expat who stays in woodlands landed has 3 kids going to singapore american school - luckily he has a full expat package which includes a car to drive to work
Mermaid, are you really a WOMEN, or are you a man pretending to be a women in this forum.
Is it because by claiming yourself as a women, people will not suspect that you are using a fake account?
I hv nvr expect a person of yr calibre to be able to tell a person's gender by talking to them virtually.
perhaps u r unware tat u r tat special one. ask anyone out here if they hv mistaken me for a man! :doh:
P/S : perhaps u may hv a habit of creating clones to support yrself etc but pls dun liken everyone to behave the same as u.
I hv nvr expect a person of yr calibre to be able to tell a person's gender by talking to them virtually.
perhaps u r unware tat u r tat special one. ask anyone out here if they hv mistaken me for a man! :doh:
P/S : perhaps u may hv a habit of creating clones to support yrself etc but pls dun liken everyone to behave the same as u.
Its funny that you are focusing on talking about gender rather than disputing you are not running multiple account and pretending to be someone else.
I am pretty sure you know that your cover has been exposed and it doesnt take a genius to know which despicable troll will do such thing.
The language and tone you use last night was a give away.
Its funny that you are focusing on talking about gender rather than disputing you are not running multiple account and pretending to be someone else.
I am pretty sure you know that your cover has been exposed and it doesnt take a genius to know which despicable troll will do such thing.
The language and tone you use last night was a give away.
when u r at my level, u will understand many things without the need to ask ignorant questions over & over again which cast doubts on yr intellectual levels.
u can cont'd to make a mockery out of yrself but I do hope tat u do not shame yr parents in the process.
.....
u can cont'd to make a mockery out of yrself but I do hope tat u do not shame yr parents in the process.
i really dont know whats the cool factor now.
Is it the cool trend now to describe oneself as "half beast half freak"?
usually when a person say he is half black half white, people understand the one parent is black, the other is white.
when a person say is 3/4 black, 1/4 white, people understand one parent is 50% black,50% white, the other parent is black.
when a person say he is half beast half freak, does the above rule still applies?
my understanding of english language is not so good.
i really dont know whats the cool factor now.
Is it the cool trend now to describe oneself as "half beast half freak"?
usually when a person say he is half black half white, people understand the one parent is black, the other is white.
when a person say is 3/4 black, 1/4 white, people understand one parent is 50% black,50% white, the other parent is black.
when a person say he is half beast half freak, does the above rule still applies?
my understanding of english language is not so good.
wat has yr qn got to do wif our discussion above?
u can deem the answer as per how u perceived me as below.
u are one of the 2 using big-big picture in your signature. the other is ecimbew.
like dat not attention seeking meh?
pot calling kettle black.
Hahaha...... you really make my day!
rather just say this person is exhibiting personality traits of beast and freak ?
i really dont know whats the cool factor now.
Is it the cool trend now to describe oneself as "half beast half freak"?
usually when a person say he is half black half white, people understand the one parent is black, the other is white.
when a person say is 3/4 black, 1/4 white, people understand one parent is 50% black,50% white, the other parent is black.
when a person say he is half beast half freak, does the above rule still applies?
my understanding of english language is not so good.
Hahaha...... you really make my day!
rather just say this person is exhibiting personality traits of beast and freak ?
I shall satisfy yr curiosity!
I am a woman wif hairy chest :scared-1:hence exhibiting traits of a beast.
I am able to instil fear in ppl till the extent of freaking one out hence exhibiting traits of a freak.
satisfied wif my explanation?:tongue3:
Why is this not translating to a boom in CCR property? Perhaps here are rising number of millionaires living outside CCR?
The number of millionaires here has risen at a sharp rate, thanks to the robust recovery of financial markets in the past year.
The Credit Suisse Global Wealth Report found that Singapore's total wealth grew by 8.7 per cent to US$1.1 trillion (S$1.37 trillion) in the 12 months to mid-2013. Average wealth per adult increased by 6.8 per cent to US$282,000. This figure includes a person's home, if he owns it.
This is quite a turnaround from the last report, which showed that between mid-2011 and mid-2012, total household wealth in Singapore dipped by 2.5 per cent to US$1 trillion, while the average wealth of people fell by 4 per cent to US$258,117. As a result, Singapore is now ranked second in the Asia-Pacific region after Australia in terms of wealth per adult, up one spot from last year. Globally, Singapore is now in eighth position.
Switzerland retained its top spot, with average wealth of US$513,000 per person, followed by Australia in second place with average wealth of US$403,000 and Norway in third at US$308,000.
When people got money (generally) they will certainly move towards CCR.
This is call the Theory of Concentration.
This is something very very few people who cannot understand this.
Thats why they end up paying $1,6xx-$17xx for Jurong MM.
We will see what prices of the following launches coming up and compare that against the $16xx-$17xx mark.
Watch out for these new launches coming up !
1) Alex Residences in Redhill
2) Duo in Bugis
3) The Creek - FH FH FH - in Toh Tuck
DKSG
When people got money (generally) they will certainly move towards CCR.
This is call the Theory of Concentration.
This is something very very few people who cannot understand this.
Thats why they end up paying $1,6xx-$17xx for Jurong MM.
We will see what prices of the following launches coming up and compare that against the $16xx-$17xx mark.
Watch out for these new launches coming up !
1) Alex Residences in Redhill
2) Duo in Bugis
3) The Creek - FH FH FH - in Toh Tuck
DKSG
The theory of concentration in CCR is only good enough to surpass its 2008 peak price by around 6 to 7%, whereas the the no theory of concentration in OCR has surpassed its 2008 peak by whopping 45%.
So for investors, do you think its wise to investor blinding on the theory of concentration or do you think you should learn to be nimble and follow where the money is going.
So what are we supposed to watch out for in the coming launches? Sold out? new high, new low?
When people got money (generally) they will certainly move towards CCR.
This is call the Theory of Concentration.
This is something very very few people who cannot understand this.
Thats why they end up paying $1,6xx-$17xx for Jurong MM.
We will see what prices of the following launches coming up and compare that against the $16xx-$17xx mark.
Watch out for these new launches coming up !
1) Alex Residences in Redhill
2) Duo in Bugis
3) The Creek - FH FH FH - in Toh Tuck
DKSG
6mm sq feet of office space to be completed in CCR in next 4 years - 10 times more than JLD! You know where are the tenants going to stay!
6mm sq feet of office space to be completed in CCR in next 4 years - 10 times more than JLD! You know where are the tenants going to stay!
Headline news is not important, what is most important for investors is how much capital gain and rental yield you could get after 4 years.
Time is short, investors dont have time to wait indefinitely for durian to drop.
Smart investors are nimble, they dont rely on 1 trick to make money.
http://www.straitstimes.com/breaking-news/money/story/singapore-private-home-resale-prices-dip-september-srx-20131010
3.5% down in the city fringes , down 1.5% for mass market , up 2.5% in the city.
http://www.straitstimes.com/breaking-news/money/story/singapore-private-home-resale-prices-dip-september-srx-20131010
3.5% down in the city fringes , down 1.5% for mass market , up 2.5% in the city.
Cit fringes down 3.5% is big drop indeed. Maybe jurong PC owner sold their property in jurong and upgrade to CCR? hahah
Cit fringes down 3.5% is big drop indeed. Maybe jurong PC owner sold their property in jurong and upgrade to CCR? hahah
Good luck for them if they did.
I can think of several more likely scenarios however
http://www.straitstimes.com/breaking-news/money/story/singapore-private-home-resale-prices-dip-september-srx-20131010
3.5% down in the city fringes , down 1.5% for mass market , up 2.5% in the city.
1.5% is just the beginning for mass market. Good luck.
I am not exactly sure which big chunk of HDB upgraders you are referring to, but from what I have read, the new HDB restriction on SPR will actually drive more SPR towards buying OCR PC instead of resale HDB. Plus as long as GLS remain strong and developers are not giving out massive discount for OCR property, then price should remain stable.
If you are saying that the fundamental driver of OCR property are driver by HDB upgraders then it shouldnt be a concern if PC TOP because it will be taken up by owners for own use. And there is actually no data to shows that rents are coming down in OCR district.
Having said that, this thread is not really about how OCR will perform, but asking the question as to why CCR has been under performing over the past 5 years. And given what you said above, it is definitely not going to help in boosting CCR property prices in anyway.
ooops. sorry to drag out your old post. just saw your reply. you re right. I don t expect CCR prices to pick up much the next few years with all the rulings. But I do expect OCR to head down.
ooops. sorry to drag out your old post. just saw your reply. you re right. I don t expect CCR prices to pick up much the next few years with all the rulings. But I do expect OCR to head down.
I dont think we should read too much into this report because you cant really tell if its a trend based on 1 month transaction and Aug/Sep is a traditionally low season for property purchase due to hungry ghost.
I think in CCR, there are quite a number of project going to TOP next year. it will be interesting to see how this will affect the rental in the region.
thomastansb
11-10-13, 10:38
Month on month basis, the data is quite useless. We should see for y-o-y instead.
I dont think we should read too much into this report because you cant really tell if its a trend based on 1 month transaction and Aug/Sep is a traditionally low season for property purchase due to hungry ghost.
I think in CCR, there are quite a number of project going to TOP next year. it will be interesting to see how this will affect the rental in the region.
Prices of completed non-landed private homes in Singapore fell 0.7 per cent in September over August, based on a flash estimate for the Singapore Residential Price Index (Overall) released by National University of Singapore on Monday.
The revised Overall SRPI value for August reflects a 0.4 per cent month-on-month decline.
The SRPI series, published by NUS's Institute of Real Estate Studies, excludes executive condominiums, a public-private housing hybrid.
SRPI for small units (up to 506 sq ft) islandwide fell 1.9 per cent month-on-month in September, contrasting with a 0.7 per cent gain in the revised index value for August.
SRPI for Central Region (excluding small units) slumped 1.7 per cent month-on-month in September, after declining 0.8 per cent in August.
In the Non-Central Region (excluding small units), prices inched up 0.1 per cent in September; in August, they dipped 0.1 per cent.
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