End of property boom in sight?

[mr funny]

March 31, 2008

SINGAPORE

End of property boom in sight?


WHAT IT IS

FLASH estimates of the property market's showing in the first three months of the year will be released by the Government tomorrow.

The figures, released quarterly, track prices and rents of HDB flats and private property. They are based on caveats lodged in the first 10 weeks of each three-month period.

Fuller figures and more detailed information will be given out on April 25.

WHY IT MATTERS

This round of figures is expected to shed light on the million-dollar question: Is it the beginning of the end for the housing boom?

The last set of numbers showed that a stellar rise in home prices over the last two years was starting to slow.

Since then, the market has reached a virtual standstill.

Property developers have delayed launches as buyers, spooked by the worsening global credit crunch stemming from the US, are holding off buying.

Individual home sellers convinced of Singapore's economic fundamentals, meanwhile, are refusing to lower their prices.

If tomorrow's data shows prices have plateaued or even dipped, it will be welcome news for homebuyers.

FIONA CHAN

[Unregistered]

Yes the end is not in sight but is here already.

[Unregistered]

Yes! Yes! Death to all property speculators. Burn and die!

[Unregistered]

Yes! Yes! Yes! Stucked! Stucked! Stucked!

[Unregistered]

Monday March 31, 3:43 AM
Markets brace for slump in Japanese business confidence

A key survey of corporate Japan is expected to show that business confidence has plunged to a four-year low on worries about high oil prices, a stronger yen and a weak US economy, analysts predict.

The Bank of Japan's closely watched "Tankan" report, due out Tuesday, is likely to show companies are scaling back their profit forecasts and investment plans as a result of the tougher operating environment, they said.

"The deterioration of the profit environment, stemming from a slowdown in overseas economies and surging crude oil prices, as well as the appreciation of the yen, have dealt a huge blow to corporate sentiment," Mitsubishi UFJ Securities senior economist Tatsushi Shikano said.

"Reflecting a slowdown in overseas economies, some companies now face the need to reduce production to deal with unexpected rises in inventories," Shikano said.

Economists, on average, predict the headline index of confidence among major manufacturers slumped to 12 in March from 19 in the December Tankan survey of more than 10,000 companies, according to a survey by the Nikkei business daily.

That would be the lowest level since March 2004. Confidence has already fallen from a two-year high of 25 seen in December 2006 but it is still much higher than a low of minus 38 struck six years ago.

Sentiment among big non-manufacturers is expected to have deteriorated to a reading of seven from 16 in the December poll.

The indices represent the percentage of firms experiencing favourable business conditions minus the percentage of those seeing unfavourable conditions.

Japan's corporate sector has been a key driver of the recovery in the world's second largest economy after a decade-long slump.

Helped by a weak yen, companies have racked up record profits in recent years that allowed them to invest heavily in new equipment and factories.

But many firms are now looking to scale down capital spending to cope with an expected drop in earnings.

In mid-March, the dollar fell to a 12-year low of 96 yen, far below the level companies had been preparing for at the time of the December Tankan.

Economists are also expecting a worsening of sentiment in the March quarter among smaller companies, which employ most of Japan's workforce, due to growing profit concerns and sluggish domestic demand.

Japan's economy is on the mend after a slump stretching back over a decade, but sluggish consumer spending has raised concern that the country's export-led recovery is vulnerable to a global economic slowdown.

Although core inflation hit a decade high of 1.0 percent in February, Japan's central bank is seen as unlikely to raise its super-low interest rates from 0.5 percent any time soon, with some analysts even predicting a rate cut.

Goldman Sachs Securities chief economist Tetsufumi Yamakawa is predicting a rate cut by the Bank of Japan at one of its two meetings in April.

"The Tankan is likely to show an accelerated decline in sentiment across the broad front, forcing the BoJ to revise its economic view and scenario, which is already distant from the perception shared by the market," Yamakawa said.

The BoJ raised interest rates in 2006 for the first time in almost six years. It hiked rates again in February last year but has held them steady since then amid domestic political uncertainty and financial market turmoil.

[Unregistered]

Yes! Yes! Death to all property speculators. Burn and die!

Speculators have already made tonnes of money in the last three years.

Definitely will not "burn and die!".

An average speculator who bought just one average condo worth $1.5 million three years ago would have earned around $1 million.

$1 million is equivalent to approximately 20 years of "sour grape" salaries.

If speculators who've earned $1 million will "burn and die", then what more for sour grapes who are still working very very hard everyday and yet to earn this amount of money?

So if the speculator lives a "sour grape" lifestyle, e.g. stay in HDB flat, take public transport and eat at hawker centres ... that should last 20 years.

[Unregistered]

Yes! Yes! Yes! Stucked! Stucked! Stucked!

Poor sour grapes are stuck at the bottom of society.

[Unregistered]

Yes! Yes! Death to all property speculators. Burn and die!

You have such a deep hatred for people you don't even see and know. You must be very miserable and living a life like hell right now. Poor soul.

[Unregistered]

Yes! Yes! Yes! Stucked! Stucked! Stucked!

NOOOOOOOOOOOOOOOOOOOO!!!!

[Unregistered]

Poor sour grapes are stuck at the bottom of society.

Thats why these people will continue to stay in HDB and will continue to KPKB and continue to be sour grapes. I was once like them, but have decided that enough is enough and started to take some calculated risk and started vested in private property. Looking back, no regrets. The only regrets that I've got was, I should have started much earlier.

[Unregistered]

Speculators have already made tonnes of money in the last three years.

Definitely will not "burn and die!".

An average speculator who bought just one average condo worth $1.5 million three years ago would have earned around $1 million.

$1 million is equivalent to approximately 20 years of "sour grape" salaries.

If speculators who've earned $1 million will "burn and die", then what more for sour grapes who are still working very very hard everyday and yet to earn this amount of money?

So if the speculator lives a "sour grape" lifestyle, e.g. stay in HDB flat, take public transport and eat at hawker centres ... that should last 20 years.
Can smell of burnt flesh..hahahahaha....burnt ass I guess. Speculators being fried.

[Unregistered]

a lot of sour grape eaters .......

wahahahaha

[Unregistered]

a lot of sour grape eaters .......

wahahahaha

Not sour grape anymore but SOUR DURIAN!!
Have you ever eaten a sour durian?? yacksss!!pui

[Unregistered]

European Stock-Index Futures Retreat; BNP, UBS May Decline

By Adria Cimino

March 31 (Bloomberg) -- European stock-index futures fell, following U.S. and Asian markets lower, as concern deepened that losses in the credit markets will hurt economic and profit growth.

BNP Paribas and Fortis may decline after their U.S.-traded securities dropped. UBS AG will probably slip as Merrill Lynch & Co. said the region's biggest bank by assets may have more writedowns. Vodafone Group Plc might drop after Morgan Stanley downgraded the stock. Goldman, Sachs & Co. advised investors to sell shares of British Airways Plc.

Futures on the Dow Jones Euro Stoxx 50 Index, a benchmark for the euro region, fell 23, or 0.7 percent, to 3,539 at 7:05 a.m. in London. The U.K.'s FTSE 100 Index may decrease 21, according to Cantor Index, a betting firm.

``The markets seem incapable of shaking off concerns about U.S. investment banks and the depth of this current U.S. recession,'' Oliver Stevens, head of dealing at IG Markets in Melbourne, wrote in a note to clients.

U.S. stocks on March 28 extended the worst quarterly slump since 2002. Asia's benchmark today had its biggest drop in two weeks.

Europe's Stoxx 600 has fallen 16 percent this quarter, headed for its worst quarter since at least 1987, on concern credit-market losses will erode earnings. The financial industry worldwide has already reported $208 billion in losses related to the collapse of the U.S. subprime mortgage market, according to Bloomberg data.

Analysts have slashed profit-growth estimates for Stoxx 600 companies. Earnings will rise only 1.9 percent on average this year, down from 11 percent predicted at the end of 2007, Bloomberg data show.

BNP, UBS

American depositary receipts of BNP, France's biggest bank, ended 1.3 percent below the close in Paris last week. ADRs of Fortis, Belgium's largest financial-services company, also finished 1.3 percent lower.

UBS may have a further $11 billion in writedowns in the first quarter and report a 2008 loss, Merrill said. The brokerage cut its 2009 earnings-per-share forecast by 6 percent.

Separately, UBS may ask shareholders to approve a capital increase of as much as 16 billion Swiss francs ($16.1 billion), the Sonntag newspaper reported, citing people it didn't identify.

Credit Suisse Group, Switzerland's second-biggest bank, may retreat. Merrill reduced its 2008 earnings-per-share forecast by 13 percent and its 2009 forecast by 4 percent.

U.K. banks forecast that credit market turmoil will last at least until the end of the year, twice as long as they predicted three months ago, according to a survey by the Confederation of British Industry.

Lending conditions will worsen in the next six months, leaving banks with ``significantly'' higher borrowing costs, according to the quarterly survey of financial firms.

Vodafone was downgraded to ``underweight'' from ``overweight'' by Morgan Stanley, which lowered its share-price estimate by 21 percent to 170 pence.

British Airways, Europe's third-largest carrier, was cut to ``sell'' from ``buy'' at Goldman Sachs.

Tesco Plc, the biggest supermarket chain in Britain, has put the expansion of its Fresh & Easy stores in the U.S. on hold for three months to allow the business time to ``settle down.''

[Unregistered]

March 31, 2008

SINGAPORE

End of property boom in sight?


WHAT IT IS

FLASH estimates of the property market's showing in the first three months of the year will be released by the Government tomorrow.

The figures, released quarterly, track prices and rents of HDB flats and private property. They are based on caveats lodged in the first 10 weeks of each three-month period.

Fuller figures and more detailed information will be given out on April 25.

WHY IT MATTERS

This round of figures is expected to shed light on the million-dollar question: Is it the beginning of the end for the housing boom?

The last set of numbers showed that a stellar rise in home prices over the last two years was starting to slow.

Since then, the market has reached a virtual standstill.

Property developers have delayed launches as buyers, spooked by the worsening global credit crunch stemming from the US, are holding off buying.

Individual home sellers convinced of Singapore's economic fundamentals, meanwhile, are refusing to lower their prices.

If tomorrow's data shows prices have plateaued or even dipped, it will be welcome news for homebuyers.

FIONA CHAN



unless they want to manupulate number....
If not Q1 price index for property should be up & higher...
because CPI & inflation for Jan & Feb are 6.7% due to food & property price.
If property price & CPI not tally, they will have to find reason to cover....next time find another reason to cover this....

[Unregistered]

All the bad news are as a result of US con men.Big economic tussle between West and East.

[Unregistered]

unless they want to manupulate number....
If not Q1 price index for property should be up & higher...
because CPI & inflation for Jan & Feb are 6.7% due to food & property price.
If property price & CPI not tally, they will have to find reason to cover....next time find another reason to cover this....
woooooohahahahahaha are you joking? property tumbling. go check with your agent.

[Unregistered]

European Stock-Index Futures Retreat; BNP, UBS May Decline

By Adria Cimino

March 31 (Bloomberg) -- European stock-index futures fell, following U.S. and Asian markets lower, as concern deepened that losses in the credit markets will hurt economic and profit growth.

BNP Paribas and Fortis may decline after their U.S.-traded securities dropped. UBS AG will probably slip as Merrill Lynch & Co. said the region's biggest bank by assets may have more writedowns. Vodafone Group Plc might drop after Morgan Stanley downgraded the stock. Goldman, Sachs & Co. advised investors to sell shares of British Airways Plc.

Futures on the Dow Jones Euro Stoxx 50 Index, a benchmark for the euro region, fell 23, or 0.7 percent, to 3,539 at 7:05 a.m. in London. The U.K.'s FTSE 100 Index may decrease 21, according to Cantor Index, a betting firm.

``The markets seem incapable of shaking off concerns about U.S. investment banks and the depth of this current U.S. recession,'' Oliver Stevens, head of dealing at IG Markets in Melbourne, wrote in a note to clients.

U.S. stocks on March 28 extended the worst quarterly slump since 2002. Asia's benchmark today had its biggest drop in two weeks.

Europe's Stoxx 600 has fallen 16 percent this quarter, headed for its worst quarter since at least 1987, on concern credit-market losses will erode earnings. The financial industry worldwide has already reported $208 billion in losses related to the collapse of the U.S. subprime mortgage market, according to Bloomberg data.

Analysts have slashed profit-growth estimates for Stoxx 600 companies. Earnings will rise only 1.9 percent on average this year, down from 11 percent predicted at the end of 2007, Bloomberg data show.

BNP, UBS

American depositary receipts of BNP, France's biggest bank, ended 1.3 percent below the close in Paris last week. ADRs of Fortis, Belgium's largest financial-services company, also finished 1.3 percent lower.

UBS may have a further $11 billion in writedowns in the first quarter and report a 2008 loss, Merrill said. The brokerage cut its 2009 earnings-per-share forecast by 6 percent.

Separately, UBS may ask shareholders to approve a capital increase of as much as 16 billion Swiss francs ($16.1 billion), the Sonntag newspaper reported, citing people it didn't identify.

Credit Suisse Group, Switzerland's second-biggest bank, may retreat. Merrill reduced its 2008 earnings-per-share forecast by 13 percent and its 2009 forecast by 4 percent.

U.K. banks forecast that credit market turmoil will last at least until the end of the year, twice as long as they predicted three months ago, according to a survey by the Confederation of British Industry.

Lending conditions will worsen in the next six months, leaving banks with ``significantly'' higher borrowing costs, according to the quarterly survey of financial firms.

Vodafone was downgraded to ``underweight'' from ``overweight'' by Morgan Stanley, which lowered its share-price estimate by 21 percent to 170 pence.

British Airways, Europe's third-largest carrier, was cut to ``sell'' from ``buy'' at Goldman Sachs.

Tesco Plc, the biggest supermarket chain in Britain, has put the expansion of its Fresh & Easy stores in the U.S. on hold for three months to allow the business time to ``settle down.''
Oh pain increasing.......

[Unregistered]

Thats why these people will continue to stay in HDB and will continue to KPKB and continue to be sour grapes. I was once like them, but have decided that enough is enough and started to take some calculated risk and started vested in private property. Looking back, no regrets. The only regrets that I've got was, I should have started much earlier.
yaya, dun be too happy yet. wish u bankrupt by the end of the year. let see

[Unregistered]

Thats why these people will continue to stay in HDB and will continue to KPKB and continue to be sour grapes. I was once like them, but have decided that enough is enough and started to take some calculated risk and started vested in private property. Looking back, no regrets. The only regrets that I've got was, I should have started much earlier.

what done is done. what stuck is stuck. regret for what.

[Unregistered]

Oh pain increasing.......

Pain increasing?

Then why is this man so happy?

http://www.businesstimes.com.sg//mnt/media/image/launched/donotdelete/hokwonping1.jpg

I think the stupid sour grapes will become even more sour when they read the news below ...


Business Times - 31 Mar 2008

Banyan Tree to close Vietnam fund by end 2008

SINGAPORE - Singapore resorts and hotels group Banyan Tree hopes to close a fund aimed at raising up to US$400 million for investments in Indochina by the end of this year, as market turmoil has boosted investor interest in Asian real estate.

'The response from potential investors has been stronger than we expected given that we're in the midst of a liquity crunch,' Banyan Tree Executive Chairman Ho Kwon Ping told Reuters in an interview on Monday. 'There's now an aversion to high-risk, high-return types of financial investments and a correspondingly greater interest in previously unsexy stuff like what we are doing, which is a plain vanilla type of development fund.'

The company, which owns luxury hotels and resorts under the Banyan Tree and Angsana brands, is also planning a China fund next year to raise up to US$700 million to develop over 10 sites across the country, including two in the Tibetan city of Lhasa.

Mr Ho said the company was monitoring the unrest in Tibet before firming up plans for the two new Lhasa projects but added that he does not see business affected at its two existing resorts in neighbouring Yunnan province. -- REUTERS

Copyright © 2007 Singapore Press Holdings Ltd. All rights reserved.

[Unregistered]

Pain increasing?

Then why is this man so happy?

http://www.businesstimes.com.sg//mnt/media/image/launched/donotdelete/hokwonping1.jpg

I think the stupid sour grapes will become even more sour when they read the news below ...
wooooohahahahahaha face reality not talk. anyone can talk. go out in the market place and check. virtual STAND STILL. panicky speculators s******* in their pants.

[Unregistered]

Pain increasing?

Then why is this man so happy?

http://www.businesstimes.com.sg//mnt/media/image/launched/donotdelete/hokwonping1.jpg

I think the stupid sour grapes will become even more sour when they read the news below ...

You will be happy too like him if can sell your Singapore property earlier and invest in other countries. But too late now, no buyer around, you are stucked, Mr. Speculator.

[Unregistered]

wooooohahahahahaha face reality not talk. anyone can talk. go out in the market place and check. virtual STAND STILL. panicky speculators s******* in their pants.
Friend what stand still? Boom over. Price falling. Can't you smell the burning smell?

[Unregistered]

wooooohahahahahaha face reality not talk. anyone can talk. go out in the market place and check. virtual STAND STILL. panicky speculators s******* in their pants.


This guy is really very pitiful and needs a psychiatrist immediately before worms start crawling out from his sour (or rotting) grapes!

STAND STILL -- he obviously is illiterate and therefore did not read the West Coast Crescent and the Yishun Ave 4 sale.

[Unregistered]

Friend what stand still? Boom over. Price falling. Can't you smell the burning smell?


Please see the ENT specialist immediately -- you are suffering from nose cancer and therefore cannot smell or distinguish between fragrance or burnt smell! Poor thing, another sour grape

[Unregistered]

Pain increasing?

Then why is this man so happy?
I think the stupid sour grapes will become even more sour when they read the news below ...

http://chart.finance.yahoo.com/c/6m/0/000001.ss


Man is happy since he can buy China stock now at half price.
He is also happy since in 6 months he will buy property at half price too.

[Unregistered]

Please see the ENT specialist immediately -- you are suffering from nose cancer and therefore cannot smell or distinguish between fragrance or burnt smell! Poor thing, another sour grape
Fragrance? Haha you must be talking of your agents perspiration. Thats what you smell now since you chase him to find buyer. wooohahahaha.

[Unregistered]

Yes! Yes! Death to all property speculators. Burn and die!


You have such a deep hatred for people you don't even see and know. You must be very miserable and living a life like hell right now. Poor soul.

If you stay at Pasir Ris and have to take a bus every morning to work at Pioneer Circle, and get tortured by the noisy TV mobile for the two-hour journey back and forth, you will also become equally miserable.

These are not sour grapes but bitter grapes.

Sour grapes at least have a Subaru to drive to work from their Seng Kang flat to town, and enjoy their favourite FM station along the way.

[Unregistered]

If you stay at Pasir Ris and have to take a bus every morning to work at Pioneer Circle, and get tortured by the noisy TV mobile for the two-hour journey back and forth, you will also become equally miserable.

These are not sour grapes but bitter grapes.

Sour grapes at least have a Subaru to drive to work from their Seng Kang flat to town, and enjoy their favourite FM station along the way.
Oh you drive a Subaru?

[Unregistered]

Posco likely to carry out 15-17% hike in steel prices....
further increased in steel price, property price will up accordingly as steel is the major material for building.

[Unregistered]

Speculators have already made tonnes of money in the last three years.

Definitely will not "burn and die!".

An average speculator who bought just one average condo worth $1.5 million three years ago would have earned around $1 million.

$1 million is equivalent to approximately 20 years of "sour grape" salaries.

If speculators who've earned $1 million will "burn and die", then what more for sour grapes who are still working very very hard everyday and yet to earn this amount of money?

So if the speculator lives a "sour grape" lifestyle, e.g. stay in HDB flat, take public transport and eat at hawker centres ... that should last 20 years.

They will make money provided they have bailed out. If they have even 1 property left, they are still in the deep end and can wipe out the gains and even more than that.

If they can hold then yeah no problem at all.

[Unregistered]

woooooohahahahahaha are you joking? property tumbling. go check with your agent.
Checked already. Still going up.

[Unregistered]

Drop lah... Let it drop lah....Important thing is to consolidate....Platform will be created for future bourse.....
What goes up must come down. Go up 10 steps, come down 1 step.

[Unregistered]

Checked already. Still going up.
What is going up? Your blood pressure? Check again to be sure.

[Unregistered]

http://money.cnn.com/2008/03/28/news/economy/disaster_sloan.fortune/index.htm

Interesting article

Chaos on Wall Street - On the brink of disaster
By Allan Sloan, senior editor at large

[Unregistered]

Checked already. Still going up.
U mean walk around with agent can know prices still going up??
Pity u but talk care, dun ur agent bluff u like a frog in a well.....

[Unregistered]

Checked already. Still going up.

wake up brother! check with property agent, not car or insurance agent!

[Unregistered]

Oh you drive a Subaru?
IS YOUR SUBARU FULLY PAID? CAN U STILL AFFORD TO PAY FOR THE PETROL? THE PETROL PRICE ARE GOING UP EVERY NOW N THEN. I HOPE U
DONT STUCK MIDDLE OF THE ROAD WITH AN EMPTY TANK.........

[Unregistered]

IS YOUR SUBARU FULLY PAID? CAN U STILL AFFORD TO PAY FOR THE PETROL? THE PETROL PRICE ARE GOING UP EVERY NOW N THEN. I HOPE U
DONT STUCK MIDDLE OF THE ROAD WITH AN EMPTY TANK.........
woooohahahahaha panicky speckys losing their cool...wooohahahaha.

[Unregistered]

http://money.cnn.com/2008/03/28/news/economy/disaster_sloan.fortune/index.htm

Interesting article

Chaos on Wall Street - On the brink of disaster
By Allan Sloan, senior editor at large
Yes true and scary. But the frogs in the well can't see beyond their walls. Pathetic. Pity them. They keep croaking all day long but far away from the ground reality.

[Unregistered]

My agent just called me and said that this weekend the firesale will pick momentum. All signs point to a big meltdown.

[Unregistered]

woooohahahahaha panicky speckys losing their cool...wooohahahaha.
It is not matter of losing cool or sleep. It is a reminder to a person not to be too arrogant.

[Unregistered]

It is not matter of losing cool or sleep. It is a reminder to a person not to be too arrogant.
Who is losing sleep? Must be the speculators and flippers. Who else can lose sleep?

[Unregistered]

http://money.cnn.com/2008/03/28/news/economy/disaster_sloan.fortune/index.htm

Interesting article

Chaos on Wall Street - On the brink of disaster
By Allan Sloan, senior editor at large

Thanks for your info, americans have to pay back what they squandered earlier.

[toalertool]

Yes true and scary. But the frogs in the well can't see beyond their walls. Pathetic. Pity them. They keep croaking all day long but far away from the ground reality.

Hi guys,
Actually it's quite comical to see you guys blast the speculators when subsales only account for less than 10% of all properties sold last year which was the boom year. Don't you realise that the biggest speculators in this whole property boom thing aren't individuals but the giant developers? I guess you guys should spend more effort on criticising their stupidity in purchasing land parcel after land parcel (up till the recent purchase of the Yishun and West coast 99yr LH sites) at prices that make their breakeven costs hard to swallow for even the people who sold their properties enbloc?
let me give you a few examples:

1) Farrer court dist 10 - estimated breakeven cost $1200-$1300psf with around 1800units
2) Grange court dist 9 - estimated breakeven cost $2500psf
3) Fairways dist 4 - estimated breakeven cost $1200psf
4) Recent West coast site dist 5 - estimated breakeven cost $700psf

yeap the above mentioned are ALL break even cost.. expect the selling prices to be even higher.. hmm property prices crashing? the ones who will get burnt will not just be the individual speculators.. we dont even really need to care about these people who probably dont make up a significant enough number. the issue will probably be with these developers who have probably borrowed heavily from banks to pay out the enbloc purchases. If they die, banks die, if banks die singapore dies.. well well would you want to see that happen? I dont think so unless you are M*sian or something..

[blackjack21trader]

Hi guys,
Actually it's quite comical to see you guys blast the speculators when subsales only account for less than 10% of all properties sold last year which was the boom year. Don't you realise that the biggest speculators in this whole property boom thing aren't individuals but the giant developers? I guess you guys should spend more effort on criticising their stupidity in purchasing land parcel after land parcel (up till the recent purchase of the Yishun and West coast 99yr LH sites) at prices that make their breakeven costs hard to swallow for even the people who sold their properties enbloc?
let me give you a few examples:

1) Farrer court dist 10 - estimated breakeven cost $1200-$1300psf with around 1800units
2) Grange court dist 9 - estimated breakeven cost $2500psf
3) Fairways dist 4 - estimated breakeven cost $1200psf
4) Recent West coast site dist 5 - estimated breakeven cost $700psf

yeap the above mentioned are ALL break even cost.. expect the selling prices to be even higher.. hmm property prices crashing? the ones who will get burnt will not just be the individual speculators.. we dont even really need to care about these people who probably dont make up a significant enough number. the issue will probably be with these developers who have probably borrowed heavily from banks to pay out the enbloc purchases. If they die, banks die, if banks die singapore dies.. well well would you want to see that happen? I dont think so unless you are M*sian or something..

Very insightful cost analysis. Your post certainly makes me pause for a ponder...Good post :)

[Unregistered]

yaya, dun be too happy yet. wish u bankrupt by the end of the year. let see

ha ha, not so easy la. My $$$$ can easily crush you like sugar cane juice. Life is just unfair. U will probably continue to be sour grape and I will always be up there crushing you.

[Unregistered]

Hi guys,
Actually it's quite comical to see you guys blast the speculators when subsales only account for less than 10% of all properties sold last year which was the boom year. Don't you realise that the biggest speculators in this whole property boom thing aren't individuals but the giant developers? I guess you guys should spend more effort on criticising their stupidity in purchasing land parcel after land parcel (up till the recent purchase of the Yishun and West coast 99yr LH sites) at prices that make their breakeven costs hard to swallow for even the people who sold their properties enbloc?
let me give you a few examples:

1) Farrer court dist 10 - estimated breakeven cost $1200-$1300psf with around 1800units
2) Grange court dist 9 - estimated breakeven cost $2500psf
3) Fairways dist 4 - estimated breakeven cost $1200psf
4) Recent West coast site dist 5 - estimated breakeven cost $700psf

yeap the above mentioned are ALL break even cost.. expect the selling prices to be even higher.. hmm property prices crashing? the ones who will get burnt will not just be the individual speculators.. we dont even really need to care about these people who probably dont make up a significant enough number. the issue will probably be with these developers who have probably borrowed heavily from banks to pay out the enbloc purchases. If they die, banks die, if banks die singapore dies.. well well would you want to see that happen? I dont think so unless you are M*sian or something..
What will be will be. You cant stop it. If one has to die you cant stop it.

[Unregistered]

ha ha, not so easy la. My $$$$ can easily crush you like sugar cane juice. Life is just unfair. U will probably continue to be sour grape and I will always be up there crushing you.
Are you a fruit juice seller? No wonder you always think of grapes. Must be in one of the HDB food court.

[Unregistered]

ha ha, not so easy la. My $$$$ can easily crush you like sugar cane juice. Life is just unfair. U will probably continue to be sour grape and I will always be up there crushing you.
MONEY U HAV??? OR JUST LIKE WAT U SAY SUGAR CANE HUSK?????? DRIED
AND OF NO MORE VALUE..................

[Unregistered]

MONEY U HAV??? OR JUST LIKE WAT U SAY SUGAR CANE HUSK?????? DRIED
AND OF NO MORE VALUE..................
How can a poor fruit juice hawker have money. He can only afford dry sugarcane husk and sour grapes.

[Unregistered]

Are you a fruit juice seller? No wonder you always think of grapes. Must be in one of the HDB food court.
HE PROBABLY SELLING SUGAR CANE WATER. -OCCUPATIONAL LINGO-

[Unregistered]

HE PROBABLY SELLING SUGAR CANE WATER. -OCCUPATIONAL LINGO-
ya, hawker very rich, especially sugar cane water, now jumbo size 2.50.
sell 1 year can buy house.

[Unregistered]

ha ha, not so easy la. My $$$$ can easily crush you like sugar cane juice. Life is just unfair. U will probably continue to be sour grape and I will always be up there crushing you.
Confirmed he sell sugar cane water, got machine some more.

[Unregistered]

Hi guys,
Actually it's quite comical to see you guys blast the speculators when subsales only account for less than 10% of all properties sold last year which was the boom year. Don't you realise that the biggest speculators in this whole property boom thing aren't individuals but the giant developers? I guess you guys should spend more effort on criticising their stupidity in purchasing land parcel after land parcel (up till the recent purchase of the Yishun and West coast 99yr LH sites) at prices that make their breakeven costs hard to swallow for even the people who sold their properties enbloc?
let me give you a few examples:

1) Farrer court dist 10 - estimated breakeven cost $1200-$1300psf with around 1800units
2) Grange court dist 9 - estimated breakeven cost $2500psf
3) Fairways dist 4 - estimated breakeven cost $1200psf
4) Recent West coast site dist 5 - estimated breakeven cost $700psf

yeap the above mentioned are ALL break even cost.. expect the selling prices to be even higher.. hmm property prices crashing? the ones who will get burnt will not just be the individual speculators.. we dont even really need to care about these people who probably dont make up a significant enough number. the issue will probably be with these developers who have probably borrowed heavily from banks to pay out the enbloc purchases. If they die, banks die, if banks die singapore dies.. well well would you want to see that happen? I dont think so unless you are M*sian or something..
If u can say GIANT then how can a giant developer be stupid and poor in their bussiness caculation of risks. For them they can hold for years. and for the speculators, if the think is not right to speculate, they throw n run leaving behind ppl who end of the day carry the burden of high px. and if banks die, ppl taking high loan die only. so be careful whether u sporean or others

[Unregistered]

If u can say GIANT then how can a giant developer be stupid and poor in their bussiness caculation of risks. For them they can hold for years. and for the speculators, if the think is not right to speculate, they throw n run leaving behind ppl who end of the day carry the burden of high px. and if banks die, ppl taking high loan die only. so be careful whether u sporean or others
Big developer not God. Even company like Bear Stearns can go under so what are you talking about?

[HDB]

Disclaimer: I am not a sour grape. I cannot afford anything but a HDB flat anyway.

I have always long wondered, if the developers are going to sell the whole of Singapore's condoland to foreigners? Otherwise, how many Singaporeans can afford those prices? If they are going to sell half of Singapore to foreigners, much like China long time ago sold HK for 99 year lease, where will the Singaporeans go?

[toalertool]

Very insightful cost analysis. Your post certainly makes me pause for a ponder...Good post :)

yeap.. and the projects i listed for the illustration of my point are just a fraction of the land parcels purchased in 2006 and 2007.Close a hundred of such parcels are lying in the land banks of these developers and they won't let these go at a loss. They aren't called the big players for nothing and their influence on the prices of developments isn't something you can just dismiss. Remember which property was at the forefront of this current property bull run? It is no doubt The Sail which kicked off its sales at around 1000psf.. people were scoffing at the prices even as hundreds (probably agents) queued overnight for a unit. They set a benchmark then and this benchmark has been pushed higher and higher even since and there's no turning back for these major developers and there's no turning back for property prices in Singapore. At least not back to the level we had back in 2004 or 2005. After all, you can actually call the recent bull run a "correction" for the market subdued for so many years by 911, SARS and the oil turmoil stemming from the Iraqi war. Property prices stayed at bargain levels even as inflation shot through the roof and it's only right that a correction should come to bring prices back to where it is supposed to be.

Do you think the US subprime crisis can kick prices back to where it was before? Unlikely. It will just remove some of the froth from the property market and let reality set in a little for some. Be prepared to pay more than last time for your homes in a developed country like Singapore.

*Of course, like many of you out there I would love to be able to get a FH condo in Dist 4,5 for my hard earned $700k instead of a 10 year old resale HDB just across the road. But sometimes, things just got to move on. You cant find fishball noodles for $1.50 anymore.

[Unregistered]

Big developer not God. Even company like Bear Stearns can go under so what are you talking about?
Bear Stearns is bank. they lend money to ppl like u n me, if u n me never pay, they go under. understand? moreover they never go under, they are eaten by the GIANT matchmake by the FEB. understand?. GIANT Developer like far east, city, F&n, fraser u thik can go under? not until u n i go 1st. understand? if nt dun mislead readers here. thanks

[Unregistered]

yeap.. and the projects i listed for the illustration of my point are just a fraction of the land parcels purchased in 2006 and 2007.Close a hundred of such parcels are lying in the land banks of these developers and they won't let these go at a loss. They aren't called the big players for nothing and their influence on the prices of developments isn't something you can just dismiss. Remember which property was at the forefront of this current property bull run? It is no doubt The Sail which kicked off its sales at around 1000psf.. people were scoffing at the prices even as hundreds (probably agents) queued overnight for a unit. They set a benchmark then and this benchmark has been pushed higher and higher even since and there's no turning back for these major developers and there's no turning back for property prices in Singapore. At least not back to the level we had back in 2004 or 2005. After all, you can actually call the recent bull run a "correction" for the market subdued for so many years by 911, SARS and the oil turmoil stemming from the Iraqi war. Property prices stayed at bargain levels even as inflation shot through the roof and it's only right that a correction should come to bring prices back to where it is supposed to be.

Do you think the US subprime crisis can kick prices back to where it was before? Unlikely. It will just remove some of the froth from the property market and let reality set in a little for some. Be prepared to pay more than last time for your homes in a developed country like Singapore.

*Of course, like many of you out there I would love to be able to get a FH condo in Dist 4,5 for my hard earned $700k instead of a 10 year old resale HDB just across the road. But sometimes, things just got to move on. You cant find fishball noodles for $1.50 anymore.
Dont be too sure. No one has seen TOMORROW. The same statements were made in 95-96. Man proposes God disposes.....

[Unregistered]

Disclaimer: I am not a sour grape. I cannot afford anything but a HDB flat anyway.

I have always long wondered, if the developers are going to sell the whole of Singapore's condoland to foreigners? Otherwise, how many Singaporeans can afford those prices? If they are going to sell half of Singapore to foreigners, much like China long time ago sold HK for 99 year lease, where will the Singaporeans go?
dun worry, life is like a pryamid, there are alway ppl on top n on the bottom, also god create and destroy. those who enjoy fortune but did not recipocrate
will be destroy also. for those who gve and help the less fortunate will enjoy
wealth n happiness

[toalertool]

If u can say GIANT then how can a giant developer be stupid and poor in their bussiness caculation of risks. For them they can hold for years. and for the speculators, if the think is not right to speculate, they throw n run leaving behind ppl who end of the day carry the burden of high px. and if banks die, ppl taking high loan die only. so be careful whether u sporean or others

holding on is possible.. but consider the interests involved. We are not just talking about 10million but amounts as staggering as $1.2billion (ie farrer court's purchase).With farrer court owners set to receive their money in May 2008, the premises will be vacated by approx Nov 2008 and how long can the two joints developers hold on to this big burden and not launch it? NOt very long. It will be a miracle already if they dont start building a showflat inside the condo compounds and launch as soon as possible. 99 years Dist 10 selling for aprox $1400psf.. hmm you people praying for a crash (this seems to be favourite word nowadays eh?) better pray harder cause none is coming. Only a correction of the overheating highend markets (ie those going for $4000-5000 psf) is more likely.

[Unregistered]

Dont be too sure. No one has seen TOMORROW. The same statements were made in 95-96. Man proposes God disposes.....
yes no one can see 2morrow, but u can prepare for 2morrow. take care

[Unregistered]

holding on is possible.. but consider the interests involved. We are not just talking about 10million but amounts as staggering as $1.2billion (ie farrer court's purchase).With farrer court owners set to receive their money in May 2008, the premises will be vacated by approx Nov 2008 and how long can the two joints developers hold on to this big burden and not launch it? NOt very long. It will be a miracle already if they dont start building a showflat inside the condo compounds and launch as soon as possible. 99 years Dist 10 selling for aprox $1400psf.. hmm you people praying for a crash (this seems to be favourite word nowadays eh?) better pray harder cause none is coming. Only a correction of the overheating highend markets (ie those going for $4000-5000 psf) is more likely.
You say GIANT. so these figure are only mathematical sum to them, u dun have to worry for them, the CEO r paid Millions to think for u. as for 99 yrs lease, dun u know that there is TOP UP LEASE from gov.dun mislead readers here. thks

[blackjack21trader]

The discussion here today is certainly very valuable. It has helped me strategise the direction of the execution of my current property portfolio here in Singapore District 5 for the medium term at least. Thanks to all for the valuable comments and feedback.

[toalertool]

holding on is possible.. but consider the interests involved. We are not just talking about 10million but amounts as staggering as $1.2billion (ie farrer court's purchase).With farrer court owners set to receive their money in May 2008, the premises will be vacated by approx Nov 2008 and how long can the two joints developers hold on to this big burden and not launch it? NOt very long. It will be a miracle already if they dont start building a showflat inside the condo compounds and launch as soon as possible. 99 years Dist 10 selling for aprox $1400psf.. hmm you people praying for a crash (this seems to be favourite word nowadays eh?) better pray harder cause none is coming. Only a correction of the overheating highend markets (ie those going for $4000-5000 psf) is more likely.

And I am leaving such comments in this forum so that I can look back a 1-2 years down the road and see whether my analysis of this market will actually be realised. I welcome all productive counter arguments instead of useless cutting and pasting of loads of bad news about the crisis in the US. For every bad news article you paste, I can find another 2 articles reporting good news. Show us some actual data and recent property market developments that points to it heading for a crash please! Thanks! :)

[blackjack21trader]

And I am leaving such comments in this forum so that I can look back a 1-2 years down the road and see whether my analysis of this market will actually be realised. I welcome all productive counter arguments instead of useless cutting and pasting of loads of bad news about the crisis in the US. For every bad news article you paste, I can find another 2 articles reporting good news. Show us some actual data and recent property market developments that points to it heading for a crash please! Thanks! :)

Don't need to wait, your analysis is already 80% right on target.

[toalertool]

You say GIANT. so these figure are only mathematical sum to them, u dun have to worry for them, the CEO r paid Millions to think for u. as for 99 yrs lease, dun u know that there is TOP UP LEASE from gov.dun mislead readers here. thks

Sorry I dont see what's your point in your first sentence. Anyway it is a recognised fact that freehold properties still command a much higher premium than 99year Leasehold properties despite the top up available from the govt. This has been Singaporeans' mentality and will still be for a long long while.

[Unregistered]

And I am leaving such comments in this forum so that I can look back a 1-2 years down the road and see whether my analysis of this market will actually be realised. I welcome all productive counter arguments instead of useless cutting and pasting of loads of bad news about the crisis in the US. For every bad news article you paste, I can find another 2 articles reporting good news. Show us some actual data and recent property market developments that points to it heading for a crash please! Thanks! :)
My discussion as passerby is to highlight ppl interested in this section. in case ppl here r mislead in a committment which they carry for life. some will makeit, but not all can endure the crisis of over committment. saying is cheap n easy, get out is never easy, take care

[Unregistered]

My discussion as passerby is to highlight ppl interested in this section. in case ppl here r mislead in a committment which they carry for life. some will makeit, but not all can endure the crisis of over committment. saying is cheap n easy, get out is never easy, take care
n also data n market reports are useless in time of crisis, example our local stocks market, there is new low everyday even u hav T Analysis. all depend on market force. up means up, down means down. just be careful n take care

[toalertool]

My discussion as passerby is to highlight ppl interested in this section. in case ppl here r mislead in a committment which they carry for life. some will makeit, but not all can endure the crisis of over committment. saying is cheap n easy, get out is never easy, take care

yeah precisely. Buying a pte property is buying a home for most people. And it's a known fact most singaporeans throw in most of their life savings into the roofs over their head but it is definitely wise to make sure your financial status can afford you the luxury of a private property no matter whether what happens to its valuation. If you go by this rule, whatever $$ you put into it will not disappear and your asset will just grow and grow.

Actually someone should make this an official Rule #1 for purchasing Singapore pte properties. heh

[Unregistered]

Sorry I dont see what's your point in your first sentence. Anyway it is a recognised fact that freehold properties still command a much higher premium than 99year Leasehold properties despite the top up available from the govt. This has been Singaporeans' mentality and will still be for a long long while.
GIANT DEVELOPER as mention by the writer. in olden day yes, freehold and in certain location and development they command higer px. but in places like D9
99 yrs also high px,

[Unregistered]

New Writedown Worries Weigh on UBS Shares

By Reuters | 31 Mar 2008 | 08:57 AM ET

Worries mounted in the market that UBS would unveil more losses this week after the Swiss bank said at the weekend it had begun lowering the value of some structured securities held by clients.

UBS shares were down 2.6 percent on Monday on concerns about its $5.9 billion exposure to Auction Rate Securities (ARS), a class of structured investments that has suffered liquidity problems in the global financial crisis.

Analysts at Merrill Lynch say they expect UBS to have to write down up to 5 percent of its exposure to ARS -- or around $295 million. UBS told its clients on Friday that it would mark down the value of their ARS holdings.

"Unknown unknowns from credit markets can still spring negative surprises for the banking sector," Merrill Lynch said.

UBS shareholders are on tenterhooks amid expectations the bank, Europe's hardest hit by the financial crisis, may unveil fresh subprime losses and seek a new capital hike this week, ahead of an annual general meeting on April 23.

Analysts expect UBS to write down between 10 billion Swiss francs ($10.03 billion) and 20 billion Swiss francs in ailing assets this year, in addition to $18 billion in 2007.

Shareholders have already approved 19 billion francs in capital-raising measures.


The bank needs a sound capital base to underpin its wealth management business for rich clients, who have less tolerance to losing money than institutional investors and are easily irked by negative headlines.

ARS writedowns illustrate how even safe assets have suffered from a lack of liquidity since the outset of the financial crisis in August.

"UBS's announcement on Friday that it would be marking down its private clients' holdings of Auction Rate Securities (ARS) shows new product concerns can emerge, even after nine months of turbulence in financial markets," Merrill said.

Any more serious losses could send UBS back to shareholders with cap in hand or force a shake-up in the group structure.

What was unthinkable one year ago -- that UBS could be taken over -- is now daily speculation, with many experts saying the investment banking woes have left its valuable wealth management franchise, the world's largest, undamaged.

Also on Monday, U.S. brokerage Bernstein predicted UBS would post a loss of 0.97 Swiss francs per share for 2008, against its prior profit share view of 0.25 francs. It expects writedowns of $9.8 billion.

UBS shares have lost 45 percent this year on concerns it would need to raise capital again.

[Unregistered]

yeah precisely. Buying a pte property is buying a home for most people. And it's a known fact most singaporeans throw in most of their life savings into the roofs over their head but it is definitely wise to make sure your financial status can afford you the luxury of a private property no matter whether what happens to its valuation. If you go by this rule, whatever $$ you put into it will not disappear and your asset will just grow and grow.

Actually someone should make this an official Rule #1 for purchasing Singapore pte properties. heh
Yes and dont be sucked in when you see low interest rates in the market. Borrow withing your repayment capacity. Don't get stuck with a white elephant.

[Unregistered]

ha ha, not so easy la. My $$$$ can easily crush you like sugar cane juice. Life is just unfair. U will probably continue to be sour grape and I will always be up there crushing you.
Wa!!!! this writer so rich!!! but no point. u dun know the value of money. u only know how to crush ppl n will be always crushing ppl. so maybe i day sent to jail fo crushing ppl. My frend, my advice, be humble abit. let ppl feel ur richness inside u. pay attention ppl around u. help the less fortunate ppl like me. donate more. pray more than ur life more meaingful. then money more meaning if not die also cannot take. bye

[Unregistered]

And I am leaving such comments in this forum so that I can look back a 1-2 years down the road and see whether my analysis of this market will actually be realised. I welcome all productive counter arguments instead of useless cutting and pasting of loads of bad news about the crisis in the US. For every bad news article you paste, I can find another 2 articles reporting good news. Show us some actual data and recent property market developments that points to it heading for a crash please! Thanks! :)
What a moron. Once crash happens you won't be here. You would be as good as dead along with the other speckys. The important thing is to act before it happens and not wait till it kills you. It is at your doorstep. Ofcourse if you are a frog in your well you wont see it coming. What a moron.

[Unregistered]

What a moron. Once crash happens you won't be here. You would be as good as dead along with the other speckys. The important thing is to act before it happens and not wait till it kills you. It is at your doorstep. Ofcourse if you are a frog in your well you wont see it coming. What a moron.
He is not a moron, he is a magician realtor who will use his magic to turn the market up.. good luck to him, do not follow......danger

[Unregistered]

He is not a moron, he is a magician realtor who will use his magic to turn the market up.. good luck to him, do not follow......danger
Oh then send him to US to turn the market around. The Fed need not do anything then. They would reward him with millions. Better than playing the market here.

[Unregistered]

Why dont you guys try to sell you condo and see if there are many buyers interested in your condo at your asking price. If yes that means market ok but if nobody interested at your asking price, then market is not ok.

[Unregistered]

My agent just called me and said that this weekend the firesale will pick momentum. All signs point to a big meltdown.

Ah HAH !!!

Sour Grape Paradox 5 (SGP5) detected ! Beep! Beep! Beep!

How come sour grape has an "agent"?

What is this "agent" doing for sour grapes?

Is the "agent" acting as buyer's agent or seller's agent?

Remember, an agent's job is to close a deal. Got deal, got commission. No deal, no commission.

Let's analyse carefully, one scenario at a time, and we shall see Sour Grape Paradox 5 ...

Scenario 1 - Sour Grape is a Buyer

If sour grape is a buyer looking to buy a condo, then this "agent" is a buyer's agent.

In that case what the "agent" does is incorrect. If the buyer's agent keep telling the buyer that prices are coming down, then the buyer will keep offering lower, and the more difficult it is to close deals. No deal, no commission.

Makes no sense.

Scenario 2 - Sour Grape is a Seller

If sour grape is a seller wishing to sell his condo, then this "agent" is a seller's agent.

In that case what the "agent" does is correct. Agents' job is to close a deal, so by scaring the seller that there is going to be a firesale and big meltdown coming ... hmmm ... that makes sense. So that the seller will panic and quickly accept whatever offer comes along. Close deal, earn commission.

Sounds quite logical ...

BUT WAIT!!!

Sour grape is a seller? That's impossible!

So scenarios 1 and 2 are both not possible.

However, based on careful analysis of sour grape's mentality, I am beginning to see a third possible scenario.

Scenario 3 - Sour Grape's "Agent" is not a Property Agent but a Maid Agent because Sour Grape is actually a Maid

Sour grape did not mention what type of agent. I suspect it could be a maid agent, and sour grape is actually a maid.

Here is my points to validate this hypothesis:

1. Property ownership in Singapore is almost 100% (85% HDB and 15% Private) hence a sour grape who hopes the property market to crash must be someone who does not own a property. Hence a maid fits this profile.

2. The maid agent told the maid "Go to market must bring cash."

Then the maid heard wrongly and kept posting here "Market going to crash."

[Unregistered]

REALITY CHECK?

Anyone has any facts figure on any recent transaction told by agent? LIke before sold at certain price and now is sold for this price? Like to get a feel of the market sentiments....

Many forcasts and opinions... lets give some true figures...ok?

[Unregistered]

Bear Stearns is bank. they lend money to ppl like u n me, if u n me never pay, they go under. understand? moreover they never go under, they are eaten by the GIANT matchmake by the FEB. understand?. GIANT Developer like far east, city, F&n, fraser u thik can go under? not until u n i go 1st. understand? if nt dun mislead readers here. thanks
You are wrong. One giant developer had to be bailed out during the financial crisis in 1997. It had a big land bank but buying up even more. Then cam the crash and it almost collapsed. Now it's not as giant as before.

Go read the discussion on tulip gardens and see what problems are brewing.

[Unregistered]

Yes and dont be sucked in when you see low interest rates in the market. Borrow withing your repayment capacity. Don't get stuck with a white elephant.

Don't worry. Properties can be rented out, won't be white elephant.

The resale market may be quiet, but the rental market is going very strong.

Ironically, the longer foreigners settling here put off buying properties, the better the rental market.

My family has four properties rented out now. The net yield averages around 4% p.a.

Much better than the stupid 1.2% p.a. interest the banks are offering.

[Unregistered]

REALITY CHECK?

Anyone has any facts figure on any recent transaction told by agent? LIke before sold at certain price and now is sold for this price? Like to get a feel of the market sentiments....

Many forcasts and opinions... lets give some true figures...ok?

You want facts and figures, here are some from the SISV Realink21 Caveat Database.

One problem with properties is that they're not a homogeneous product.

To make a meaningful comparison, I try to choose units around the same level and floor area (but they are not exact).

Normally, higher floors command better price. Also, the psf price tends to be higher for smaller units.

I just sample some developments I'm familiar with ...

District 11: Newton Suites (High Floor)

14 May 07: #30-04: 1,238 sf at $1.23 m ($1,544 psf) (Before Sub-Prime)
26 Dec 07: #32-03: 1,238 sf at $2.41 m ($1,950 psf) (After Sub-Prime)
26 Feb 08: #34-02: 1,238 sf at $2.35 m ($1,900 psf) (Latest)

District 4: Twin Regency (Mid Floor)

16 May 07: #13-06: 1,216 sf at $1.3 m ($1,069 psf) (Before Sub-Prime)
10 Dec 07: $13-03: 1,442 sf at $1.8 m ($1,248 psf) (After Sub-Prime)
13 Feb 08: #09-08: 1,227 sf at $1.52 m ($1,239 psf) (Latest)

District 16: Costa Del Sol (High Floor)

30 July 07: #26-19: 1,561 sf at $1.78 m ($1,140 psf) (Before Sub-Prime)
27 Dec 07: #23-31: 1,238 sf at $1.4 m ($1,131 psf) (After Sub-Prime)
18 Mar 08: #28-09: 1,346 sf at $1.635 m ($1,215 psf) (Latest)

Any reasonable person looking at these data can only come to the conclusion that the latest official information tells us that prices are holding steady. Neither up now down.

Of course, some people like to point out that this set of information is not the "latest" compared to what "their agent" told them.

However, they have been saying that for the past several months ...

[Unregistered]

District 11: Newton Suites (High Floor)

14 May 07: #30-04: 1,238 sf at $1.23 m ($1,544 psf) (Before Sub-Prime)


Oops!

There is error in this record. I merged the data of two transactions.

Should be:

14 May 07: #30-04: 797 sf at $1.08 m ($1,356 psf) (Before Sub-Prime)
13 Jun 07: #34-04: 797 sf at $1.23 m ($1,544 psf) (Before Sub-Prime)

[Unregistered]

ha ha, not so easy la. My $$$$ can easily crush you like sugar cane juice. Life is just unfair. U will probably continue to be sour grape and I will always be up there crushing you.


MONEY U HAV??? OR JUST LIKE WAT U SAY SUGAR CANE HUSK?????? DRIED
AND OF NO MORE VALUE..................


HE PROBABLY SELLING SUGAR CANE WATER. -OCCUPATIONAL LINGO-


ya, hawker very rich, especially sugar cane water, now jumbo size 2.50.
sell 1 year can buy house.

You are right. Those sour grapes above are ignorant. They don't even know that hawkers can make a lot of money. I thought every one already knows that?

Sour Grape Ignorance 7 - Don't know that hawkers can make a lot of money.

Let me open the sour grapes eyes with the Straits Times articles below. But be forewarned ... the sour grapes may become even more sour ...


This article is in green because after reading this, sour grapes will experience "Green-Eyed Jealousy".

The Straits Times

14 April 2007

MR ALAN Lee, managing director of food court chain Banquet Holdings, has colourful tales to tell of successful hawkers in Singapore.
He lets on he knows one who lives in a $6 million bungalow and drives a $730,000 Bentley. The man, who has little education, runs a string of stalls selling fishball noodles.
Another is a noodle seller who arrived almost penniless from China about a decade ago. He now rakes in '$80,000 to $90,000' a month running close to 20 stalls.
Indeed, in this food-crazy island city, it is not unheard-of for hawkers to make up to $3,000 net profit a day.
Property agent Aida Atan counts several successful hawkers as her clients. One, who runs a zi-char stall selling restaurant-style dishes, is so successful that he paid for his second property, a $1.2 million terrace house in Bukit Timah, with cash.


This article is in red because after reading this, sour grapes will experience "Red-Eyed Syndrome" 眼红.

The Straits Times

29 April 2007

IT WOULD be easy to mistake Mr Lee Chee Wee for a white-collar professional on a day off. The Nike polo T-shirt, bermudas and brown loafers make him look the part.
So does his annual income tax bill - about $20,000, the sort of figure junior stockbrokers and general practitioners fork out.
But Mr Lee, 43, is in a far more elite group than that.
His popular Beach Road Prawn Noodle House in East Coast Road has rendered him that rarest of rare creatures - a hawker who has made good.
Working out what hawkers earn is a tricky task but that tax bill is a giveaway. If Mr Lee pays $20,000 in taxes, his monthly earnings are likely to range between $13,000 and $27,000.
The question of how much food sellers earn has become a talking point after the taxman went after 12 hawkers last Saturday for tax evasion.
One of the 12 earned $4 million in six years, or about $56,000 a month, yet declared just half the amount.
So how much do hawkers really earn? Most aren't telling, so The Sunday Times dispatched six reporters to do a plate count at 10 popular stalls. Four hours were spent at each stall counting the plates or bowls of food sold in that time.
The Sunday Times then worked out the maximum possible sales of each stall, taking into account opening hours and average prices.
Sales can dip on rainy days and during off-peak periods but results showed that maximum sales figures for popular hawkers could easily hit $100,000 a month.
In the count, Beach Road Prawn Noodle House could sell as many as 116 bowls an hour. At $5 a bowl, that's $139,200 a month.
Even at the stall with the lowest plate count - 36 plates an hour at No. 18 Fried Kway Teow in Zion Road - sales could reach $32,400 a month.
Accountant Vincent Chan, 31, is not surprised. His hawker clients pull in about $10,000 to $15,000 a month.
'It's really possible to earn quite a bit, especially if the hawker is popular,' he said.

[Unregistered]

You are right. Those sour grapes above are ignorant. They don't even know that hawkers can make a lot of money. I thought every one already knows that?

Sour Grape Ignorance 7 - Don't know that hawkers can make a lot of money.

Let me open the sour grapes eyes with the Straits Times articles below. But be forewarned ... the sour grapes may become even more sour ...

Haha didnt know that he is a KARANG GUNI MAN also. Keeps old rags and news papers too. KARANG GUNI men are also rich. But beware neighbours of the stinking smell from his collection. By the way we see your 'Bentley' packed with newspapers. Please post more older news. I bet you have a good collection.

http://photos1.blogger.com/blogger2/7447/583246636546221/1600/siukupohzhua.jpg

[Unregistered]

Haha didnt know that he is a KARANG GUNI MAN also. Keeps old rags and news papers too. KARANG GUNI men are also rich. But beware neighbours of the stinking smell from his collection. By the way we see your 'Bentley' packed with newspapers. Please post more older news. I bet you have a good collection.

http://photos1.blogger.com/blogger2/7447/583246636546221/1600/siukupohzhua.jpg

Wah so multi talented meh? Hawker, Karang Guni and also Speculator meh? Please dont forget to pass on your skills to your kids so that they can also be as successful as you. Even your neighbours would be loving to have such a personality living next door.

[Unregistered]

POSTING ON TULIP GARDEN THREAD. GAME OVER. RUSH FOR EXITS.


Saw Straits Times News,
A SMALL property firm that snapped up enough sites to place it among the top en bloc players last year has put off completing two deals while it ties up funding.
Because of the delays, owners at one condo are still waiting to pick up cheques for well over $1 million each. They expected payment in late February but an extension put this back to March and now the due date is late this month.

The payments are pending from Bravo Building Construction, a relatively new firm on the property scene. It bought freehold Pender Court condominium in the Telok Blangah area for $80 million last July and soon after purchased Tulip Garden near Holland Road - also freehold - for $516 million.

But completion of both deals seems to have stalled.

Completion is at the final stage of the sale process and triggers the final payment - usually around 95 per cent of the purchase price - to owners. The remaining 5 per cent is paid when the owner vacates.

These headaches for the owners come amid a slowing market for collective sales. The first quarter this year saw just one relatively small deal, compared with some 25 notched up in the same period last year.

The Tulip Garden transaction is expected to be completed late next month but Bravo has already asked for two postponements - first to July 23 and then Aug 7.

It has also asked for extensions to pay an additional 5 per cent of the purchase price - $25.8 million.

This is a routine payment required once the Strata Titles Board approves a sale. An initial 5 per cent deposit was paid when the sale was done.

The deadline for the second 5 per cent payment was March 13 but Bravo won approval to move it to April 7. Then in mid-March, it again asked to move the date, this time to May 5.

However, before the sale committee could respond to the request, it is understood that Bravo asked again to have the date moved even further back, to June 7.

Tulip Garden sold for about $1,018 per sq ft. It has 164 units comprising 96 flats, 66 maisonettes and two shophouses. Flat owners stand to reap $2.5 million to $4.2 million while maisonette owners will receive about $3.4 million each. The shop units will get about $1.1 million each.

The owners are meeting this weekend to consider Bravo's requests that the completion date be pushed back to Aug 7 and the deadline for the $25.8 million payment be extended to June 7.

The Pender Court deal is even further behind schedule.

Bravo was supposed to have completed the sale on Feb 25 but had it postponed, initially to around mid-March. It then asked for a further extension to April 24, which has apparently been granted.

Pender Court's 48 owners should each get $1.6 million or so for their flats, which sold for about $872 psf.

Sources have told The Straits Times that they understand Bravo is committed to completing the two purchases and just needs more time to arrange funding.

Bravo, which was registered in 2002, reportedly picked up $824.5 million worth of en bloc sale deals last year, making it the fourth-largest buyer of en bloc sites.

Bravo's directors could not be reached for comment, despite numerous telephone calls and a visit to its office in an industrial building in Geylang Road last Friday. A Bravo staff member said that the company directors were away on business.

GAME OVER

[Unregistered]

yeap.. and the projects i listed for the illustration of my point are just a fraction of the land parcels purchased in 2006 and 2007.Close a hundred of such parcels are lying in the land banks of these developers and they won't let these go at a loss. They aren't called the big players for nothing and their influence on the prices of developments isn't something you can just dismiss. Remember which property was at the forefront of this current property bull run? It is no doubt The Sail which kicked off its sales at around 1000psf.. people were scoffing at the prices even as hundreds (probably agents) queued overnight for a unit. They set a benchmark then and this benchmark has been pushed higher and higher even since and there's no turning back for these major developers and there's no turning back for property prices in Singapore. At least not back to the level we had back in 2004 or 2005. After all, you can actually call the recent bull run a "correction" for the market subdued for so many years by 911, SARS and the oil turmoil stemming from the Iraqi war. Property prices stayed at bargain levels even as inflation shot through the roof and it's only right that a correction should come to bring prices back to where it is supposed to be.

Do you think the US subprime crisis can kick prices back to where it was before? Unlikely. It will just remove some of the froth from the property market and let reality set in a little for some. Be prepared to pay more than last time for your homes in a developed country like Singapore.

*Of course, like many of you out there I would love to be able to get a FH condo in Dist 4,5 for my hard earned $700k instead of a 10 year old resale HDB just across the road. But sometimes, things just got to move on. You cant find fishball noodles for $1.50 anymore.

Well said, people should understand that policemen cannot wear shorts anymore, it just does'nt make sense. People have to wake up their ideas that we need to move on and property prices will never go back to the pre-SARS period. No wonder these sour grapes are making so much noise to let go their steam. I believe their wait for the property prices to go down will be futile.

[Unregistered]

Well said, people should understand that policemen cannot wear shorts anymore, it just does'nt make sense. People have to wake up their ideas that we need to move on and property prices will never go back to the pre-SARS period. No wonder these sour grapes are making so much noise to let go their steam. I believe their wait for the property prices to go down will be futile.
Well soon people would have to switch of lights, drive every alternate day and go back to cultivating land to survive. So going back to pre-SARS days is not a big thing. In fact will go back to much longer back. Better order your bullocks for the cart soon before the waiting time goes up.

[Unregistered]

Well soon people would have to switch of lights, drive every alternate day and go back to cultivating land to survive. So going back to pre-SARS days is not a big thing. In fact will go back to much longer back. Better order your bullocks for the cart soon before the waiting time goes up.
Worst sencenario, police man wear underwear. like Tazan style....haha

[Unregistered]

Sell condo and buy rice.


India introduces rice export ban

The Indian government has banned the export of non-basmati rice to try and control soaring domestic food costs.

The decision, one of a series of measures to curb inflation, was taken during an emergency cabinet meeting.

The price for exports of aromatic basmati rice has also been raised to $1,200 per tonne to discourage exports.

The move could have an impact on rice prices globally as the country is the third largest exporter of the grain - a staple food in many countries.

The move is the latest in a series of increases in the export price of non-basmati rice.

The price of such rice was increased from $650 to $1,000 per tonne in the month of March alone.

Global problem

The government imposed a total ban on non-basmati rice exports last October but lifted it following protests from exporters.

India is the second-largest rice producer in the world. It usually exports more than four million tonnes of rice a year.

The government also announced that it would be scrapping import duty on all crude edible oils as part of its inflation-curbing measures.

India ended its reliance on food imports in the 1970s, largely to the government's so-called Green Revolution.

But two years ago, it imported wheat for the first time in six years following a significant drop in its stockpiles.

The government wants to avoid a similar situation for its rice stocks.

In mid-March, in an attempt to bolster its stocks, India abolished import duties on rice.

The problem is an international one, as global rice stocks have reached a 25-year low.

[Unregistered]

Japanese business confidence hits four-year low
Posted: 01 April 2008 0814 hrs


TOKYO: Japanese business confidence has slumped to the lowest level in more than four years as executives worry about a stronger yen, a weak US economy and high oil prices, a central bank survey showed Tuesday.

Confidence among major manufacturers tumbled to 11 in March from 19 in December, according to the Bank of Japan's quarterly Tankan survey. Market forecasts, on average, had been for a figure of 12.

It was the second straight quarterly decline, pushing sentiment down to the worst level since the fourth quarter of 2003, according to the survey, which covers a total of more than 10,000 companies.

Major manufacturers predict a further deterioration in business conditions to a figure of seven in June.

The index represents the percentage of firms experiencing favourable business conditions minus the percentage of those seeing unfavourable conditions.

Confidence among large non-manufacturers fell to 12 from 16 in December.

Japan's corporate sector has been a key driver of the recovery in the world's second largest economy after a decade-long slump.

Helped by a weak yen and brisk exports, companies have racked up record earnings in recent years that allowed them to invest heavily in new equipment and factories.

But many firms are now looking to scale down capital spending to cope with an expected drop in earnings amid fears of a US recession and financial market turmoil that has pushed the yen sharply higher against the dollar.

Large manufacturers and non-manufacturers plan to cut their capital spending by 1.6 per cent in the new fiscal year that began on Tuesday, while firms of all sizes and industries anticipate a reduction of 5.3 per cent, the survey showed.

The combined current profit of all the companies is expected to rise by 2.4 per cent in the fiscal year to March 2009, after a 1.6 per cent drop in the previous year, the Bank of Japan reported. - AFP/ac

[Unregistered]

You want facts and figures, here are some from the SISV Realink21 Caveat Database.

One problem with properties is that they're not a homogeneous product.

To make a meaningful comparison, I try to choose units around the same level and floor area (but they are not exact).

Normally, higher floors command better price. Also, the psf price tends to be higher for smaller units.

I just sample some developments I'm familiar with ...

District 11: Newton Suites (High Floor)

14 May 07: #30-04: 1,238 sf at $1.23 m ($1,544 psf) (Before Sub-Prime)
26 Dec 07: #32-03: 1,238 sf at $2.41 m ($1,950 psf) (After Sub-Prime)
26 Feb 08: #34-02: 1,238 sf at $2.35 m ($1,900 psf) (Latest)

District 4: Twin Regency (Mid Floor)

16 May 07: #13-06: 1,216 sf at $1.3 m ($1,069 psf) (Before Sub-Prime)
10 Dec 07: $13-03: 1,442 sf at $1.8 m ($1,248 psf) (After Sub-Prime)
13 Feb 08: #09-08: 1,227 sf at $1.52 m ($1,239 psf) (Latest)

District 16: Costa Del Sol (High Floor)

30 July 07: #26-19: 1,561 sf at $1.78 m ($1,140 psf) (Before Sub-Prime)
27 Dec 07: #23-31: 1,238 sf at $1.4 m ($1,131 psf) (After Sub-Prime)
18 Mar 08: #28-09: 1,346 sf at $1.635 m ($1,215 psf) (Latest)

Any reasonable person looking at these data can only come to the conclusion that the latest official information tells us that prices are holding steady. Neither up now down.

Of course, some people like to point out that this set of information is not the "latest" compared to what "their agent" told them.

However, they have been saying that for the past several months ...


Good Facts!

From these data, it seems like property market is holding on quite well....anyone has other data to support this or otherwise contest it?

[Unregistered]

Good Facts!

From these data, it seems like property market is holding on quite well....anyone has other data to support this or otherwise contest it?
tHIS U WAN???A SMALL property firm that snapped up enough sites to place it among the top en bloc players last year has put off completing two deals while it ties up funding.
Because of the delays, owners at one condo are still waiting to pick up cheques for well over $1 million each. They expected payment in late February but an extension put this back to March and now the due date is late this month.

The payments are pending from Bravo Building Construction, a relatively new firm on the property scene. It bought freehold Pender Court condominium in the Telok Blangah area for $80 million last July and soon after purchased Tulip Garden near Holland Road - also freehold - for $516 million.

But completion of both deals seems to have stalled.

Completion is at the final stage of the sale process and triggers the final payment - usually around 95 per cent of the purchase price - to owners. The remaining 5 per cent is paid when the owner vacates.

These headaches for the owners come amid a slowing market for collective sales. The first quarter this year saw just one relatively small deal, compared with some 25 notched up in the same period last year.

The Tulip Garden transaction is expected to be completed late next month but Bravo has already asked for two postponements - first to July 23 and then Aug 7.

It has also asked for extensions to pay an additional 5 per cent of the purchase price - $25.8 million.

This is a routine payment required once the Strata Titles Board approves a sale. An initial 5 per cent deposit was paid when the sale was done.

The deadline for the second 5 per cent payment was March 13 but Bravo won approval to move it to April 7. Then in mid-March, it again asked to move the date, this time to May 5.

However, before the sale committee could respond to the request, it is understood that Bravo asked again to have the date moved even further back, to June 7.

Tulip Garden sold for about $1,018 per sq ft. It has 164 units comprising 96 flats, 66 maisonettes and two shophouses. Flat owners stand to reap $2.5 million to $4.2 million while maisonette owners will receive about $3.4 million each. The shop units will get about $1.1 million each.

The owners are meeting this weekend to consider Bravo's requests that the completion date be pushed back to Aug 7 and the deadline for the $25.8 million payment be extended to June 7.

The Pender Court deal is even further behind schedule.

Bravo was supposed to have completed the sale on Feb 25 but had it postponed, initially to around mid-March. It then asked for a further extension to April 24, which has apparently been granted.

Pender Court's 48 owners should each get $1.6 million or so for their flats, which sold for about $872 psf.

Sources have told The Straits Times that they understand Bravo is committed to completing the two purchases and just needs more time to arrange funding.

Bravo, which was registered in 2002, reportedly picked up $824.5 million worth of en bloc sale deals last year, making it the fourth-largest buyer of en bloc sites.

Bravo's directors could not be reached for comment, despite numerous telephone calls and a visit to its office in an industrial building in Geylang Road last Friday. A Bravo staff member said that the company directors were away on business.

[Unregistered]

You are right. Those sour grapes above are ignorant. They don't even know that hawkers can make a lot of money. I thought every one already knows that?

Sour Grape Ignorance 7 - Don't know that hawkers can make a lot of money.

Let me open the sour grapes eyes with the Straits Times articles below. But be forewarned ... the sour grapes may become even more sour ...


WAHH!!! I ALSO WANT TO OPEN A HAWKER STORE LEH SELLING PRAWN NOODLE. LOL
Buy $6m bungalow and a bently.
Or sell Yong tow fu also can lah. Anybody can teach me how to cook sting ray???

[Unregistered]

Good Facts!

From these data, it seems like property market is holding on quite well....anyone has other data to support this or otherwise contest it?
I agree. Please also show the number of units sold, number of units returned and number of units where options lapsed.

[Unregistered]

tHIS U WAN???A SMALL property firm that snapped up enough sites to place it among the top en bloc players last year has put off completing two deals while it ties up funding.
Because of the delays, owners at one condo are still waiting to pick up cheques for well over $1 million each. They expected payment in late February but an extension put this back to March and now the due date is late this month.

The payments are pending from Bravo Building Construction, a relatively new firm on the property scene. It bought freehold Pender Court condominium in the Telok Blangah area for $80 million last July and soon after purchased Tulip Garden near Holland Road - also freehold - for $516 million.

But completion of both deals seems to have stalled.

Completion is at the final stage of the sale process and triggers the final payment - usually around 95 per cent of the purchase price - to owners. The remaining 5 per cent is paid when the owner vacates.

These headaches for the owners come amid a slowing market for collective sales. The first quarter this year saw just one relatively small deal, compared with some 25 notched up in the same period last year.

The Tulip Garden transaction is expected to be completed late next month but Bravo has already asked for two postponements - first to July 23 and then Aug 7.

It has also asked for extensions to pay an additional 5 per cent of the purchase price - $25.8 million.

This is a routine payment required once the Strata Titles Board approves a sale. An initial 5 per cent deposit was paid when the sale was done.

The deadline for the second 5 per cent payment was March 13 but Bravo won approval to move it to April 7. Then in mid-March, it again asked to move the date, this time to May 5.

However, before the sale committee could respond to the request, it is understood that Bravo asked again to have the date moved even further back, to June 7.

Tulip Garden sold for about $1,018 per sq ft. It has 164 units comprising 96 flats, 66 maisonettes and two shophouses. Flat owners stand to reap $2.5 million to $4.2 million while maisonette owners will receive about $3.4 million each. The shop units will get about $1.1 million each.

The owners are meeting this weekend to consider Bravo's requests that the completion date be pushed back to Aug 7 and the deadline for the $25.8 million payment be extended to June 7.

The Pender Court deal is even further behind schedule.

Bravo was supposed to have completed the sale on Feb 25 but had it postponed, initially to around mid-March. It then asked for a further extension to April 24, which has apparently been granted.

Pender Court's 48 owners should each get $1.6 million or so for their flats, which sold for about $872 psf.

Sources have told The Straits Times that they understand Bravo is committed to completing the two purchases and just needs more time to arrange funding.

Bravo, which was registered in 2002, reportedly picked up $824.5 million worth of en bloc sale deals last year, making it the fourth-largest buyer of en bloc sites.

Bravo's directors could not be reached for comment, despite numerous telephone calls and a visit to its office in an industrial building in Geylang Road last Friday. A Bravo staff member said that the company directors were away on business.

Oh all in the air. Too much excess supply shortly in the market. Buyers market!!!!!!!

[Unregistered]

Ah HAH !!!

Sour Grape Paradox 5 (SGP5) detected ! Beep! Beep! Beep!

How come sour grape has an "agent"?

What is this "agent" doing for sour grapes?

Is the "agent" acting as buyer's agent or seller's agent?

Remember, an agent's job is to close a deal. Got deal, got commission. No deal, no commission.

Let's analyse carefully, one scenario at a time, and we shall see Sour Grape Paradox 5 ...

Scenario 1 - Sour Grape is a Buyer

If sour grape is a buyer looking to buy a condo, then this "agent" is a buyer's agent.

In that case what the "agent" does is incorrect. If the buyer's agent keep telling the buyer that prices are coming down, then the buyer will keep offering lower, and the more difficult it is to close deals. No deal, no commission.

Makes no sense.

Scenario 2 - Sour Grape is a Seller

If sour grape is a seller wishing to sell his condo, then this "agent" is a seller's agent.

In that case what the "agent" does is correct. Agents' job is to close a deal, so by scaring the seller that there is going to be a firesale and big meltdown coming ... hmmm ... that makes sense. So that the seller will panic and quickly accept whatever offer comes along. Close deal, earn commission.

Sounds quite logical ...

BUT WAIT!!!

Sour grape is a seller? That's impossible!

So scenarios 1 and 2 are both not possible.

However, based on careful analysis of sour grape's mentality, I am beginning to see a third possible scenario.

Scenario 3 - Sour Grape's "Agent" is not a Property Agent but a Maid Agent because Sour Grape is actually a Maid

Sour grape did not mention what type of agent. I suspect it could be a maid agent, and sour grape is actually a maid.

Here is my points to validate this hypothesis:

1. Property ownership in Singapore is almost 100% (85% HDB and 15% Private) hence a sour grape who hopes the property market to crash must be someone who does not own a property. Hence a maid fits this profile.

2. The maid agent told the maid "Go to market must bring cash."

Then the maid heard wrongly and kept posting here "Market going to crash."
Poor guy has gone crazy. Even such guys can discuss property?

[Unregistered]

I agree. Please also show the number of units sold, number of units returned and number of units where options lapsed.
BUYER'S MARKET, NO NEED DATA OR ANALYASIS. USE OWN BARGAINING POWER!!!!!!!!!!!!all data are to be thrown away, misleading.

[Unregistered]

BUYER'S MARKET, NO NEED DATA OR ANALYASIS. USE OWN BARGAINING POWER!!!!!!!!!!!!all data are to be thrown away, misleading.

What buyer's market you are talking about?? Every weekend, I really pity all the buyers going in and out of condos under the hot sun thinking of buying some cheap bargin. At the end of the day, all buyers are really wasting their time and energy as all sellers who have holding power, not selling.

Mr, its all about holding power, there will be some but majority all have $$$$$$, all can tong wan. Buyers, stop wasting your time to bargin as prices will not drop like no tomorrow. YOu are also wasting seller's time, walk in walk out of condos, just like walk in walk out of Pertain road.

[Unregistered]

What buyer's market you are talking about?? Every weekend, I really pity all the buyers going in and out of condos under the hot sun thinking of buying some cheap bargin. At the end of the day, all buyers are really wasting their time and energy as all sellers who have holding power, not selling.

Mr, its all about holding power, there will be some but majority all have $$$$$$, all can tong wan. Buyers, stop wasting your time to bargin as prices will not drop like no tomorrow. YOu are also wasting seller's time, walk in walk out of condos, just like walk in walk out of Pertain road.
Are you a security guard at some showflat?

[Unregistered]

What buyer's market you are talking about?? Every weekend, I really pity all the buyers going in and out of condos under the hot sun thinking of buying some cheap bargin. At the end of the day, all buyers are really wasting their time and energy as all sellers who have holding power, not selling.

Mr, its all about holding power, there will be some but majority all have $$$$$$, all can tong wan. Buyers, stop wasting your time to bargin as prices will not drop like no tomorrow. YOu are also wasting seller's time, walk in walk out of condos, just like walk in walk out of Pertain road.

WA!!!!!! so agitatted for wat????? dun u kno visiting show flat is consider national past time???? like go shoping center. Do u also kno the rule of game,
"SEE WHO BRINK 1ST". ????. In buyer' market, whu cares whu u r?????
Money in my pocket safer. Rite???? i suggest u cool down 1st. we higher class
ppl dun kno wat is PERTAIN ROAD mean??????

[Unregistered]

Are you a security guard at some showflat?
Tink cleaner of show flat., too many ppl visit show flat without buying, tat y piss off. no coomission cut from agent.

[Unregistered]

Tink cleaner of show flat., too many ppl visit show flat without buying, tat y piss off. no coomission cut from agent.

That is a good sign (a lot of people visiting showflat). Pent up demand is building up.

[Unregistered]

That is a good sign (a lot of people visiting showflat). Pent up demand is building up.
Wat is worried is exit route. a lot of buyer is now visiting showflat to feel the market. any sign of trouble , run 1st.........

[Unregistered]

Wat is worried is exit route. a lot of buyer is now visiting showflat to feel the market. any sign of trouble , run 1st.........
Sorry, now sellers also visiting show flat to feel good when they see many 'buyer' coming. But they dont know those buyer coming to show their kids something new rather than toys. They show model of buildings.

[Unregistered]

I think the reason why buyer now is not in a rush to own a condo is because they dont really need it. you sell me cheaper, ok i will buy and take the risk but if you dont sell me cheaper then forget it and keep money in the bank for interest. AUD interest is 8%. a very good return.
Thats the attitude of most buyers right now.

[Unregistered]

I think the reason why buyer now is not in a rush to own a condo is because they dont really need it. you sell me cheaper, ok i will buy and take the risk but if you dont sell me cheaper then forget it and keep money in the bank for interest. AUD interest is 8%. a very good return.
Thats the attitude of most buyers right now.
1 (ONE) WORD DESCRIBE ALL. ==== CHEAP=======

[Unregistered]

Wat is worried is exit route. a lot of buyer is now visiting showflat to feel the market. any sign of trouble , run 1st.........

And I think they feel something now!!

[Unregistered]

1 (ONE) WORD DESCRIBE ALL. ==== CHEAP=======
This word CHEAP is new in the market now, however if conditions around the world did not improve the next few months, another few words had to be added to describe it better====cheap cheap cheap====

[Unregistered]

I think the reason why buyer now is not in a rush to own a condo is because they dont really need it. you sell me cheaper, ok i will buy and take the risk but if you dont sell me cheaper then forget it and keep money in the bank for interest. AUD interest is 8%. a very good return.
Thats the attitude of most buyers right now.

Already happening in some of the new condos in west coast.

[Unregistered]

Good Facts!

From these data, it seems like property market is holding on quite well....anyone has other data to support this or otherwise contest it?

Thanks for your compliments.

Yes. There is someone else who has data to support this.

It is the Urban Redevelopment Authority.


Business Times - 01 Apr 2008

S'pore private home prices rise 4.2% in Q1

SINGAPORE - Singapore private home prices rose 4.2 per cent between January and March sustaining a four-year increase even as property sales slowed this year, early government estimates showed on Tuesday.

The Urban Redevelopment Authority (URA) said the price index for private residential homes rose to 178 points for the three months ended March, from 170.8 in the previous three-month period.

Private home sales slumped in the first two months of 2008, and could fall to the lowest quarter since the Sars epidemic in 2003 as government moves to curb property speculation took effect and global economic fears kept buyers at bay.

The first-quarter gain follows a 6.8 per cent rise in the October-December period and after the index rose 31.2 per cent overall for 2007, and compares with 4.8 per cent in the first quarter of 2007, and 3.8 per cent in the final quarter of 2006.

The advance estimates are compiled from transaction prices lodged during the first 10 weeks of the quarter as well as data from new apartments that have been booked.

The URA will release the official price index in four weeks. -- REUTERS

Copyright © 2007 Singapore Press Holdings Ltd. All rights reserved.

Well ... I was elated to read this, but was quite apprehensive that it could be an April's Fool Joke by Business Times.

I don't want to become the butt of jokes by all these sour grapes, so I checked up URA website.

It is confirmed. You can check this link here:

http://www.ura.gov.sg/pr/text/2008/pr08-35.html

Of course if it's an April Fool's joke by URA, then I can't help it.

[Unregistered]

So is the property market going to continue up after taking a breather, or is this the last gasp before the crash?

[Unregistered]

URA A FOOL!

[Unregistered]

HDB and private property prices up in Q1 flash estimates
Posted: 01 April 2008 1345 hrs

Private residential property prices in Singapore rose 4.2 percent in the first quarter this year, according to the latest preliminary estimates from the Urban Redevelopment Authority.

The pace was slower than the 6.8 percent clip recorded in the fourth quarter of last year.

On a quarter on quarter basis, the biggest rise in property prices for non-landed properties came from the central districts just outside the prime postal districts of 9, 10 and 11.

Prices in these central areas increased 7.7% in January to March, compared with the October to December period.

Properties in the prime districts of 9, 10 and 11, as well as the downtown area and Sentosa, rose 7.5 percent on quarter.

And those in the rest of Singapore advanced about 7 percent in the first quarter from the previous three months.

The preliminary estimates are based on transaction prices given in caveats lodged during the first 10 weeks of the quarter, as well as the number of new units sold.

Meantime, the Housing and Development Board says prices of HDB resale flats rose 3.4 percent in the January to March period over the previous three months.

This is lower than the 5.7% increase in the fourth quarter.

Both the URA and HDB will release final figures at the end of April.

The URA said in its release, that as at 4th Quarter 2007,there are about 64,900 private residential units in the pipeline, of which about 56,100 new private housing units are expected to be completed between 2008 and 2011.

There are also some 38,300 units that have yet to be put on sale by developers.

As for the supply of government flats, the HDB said it had made available in the first quarter of this year, some 1,100 new flats in two Build-To-Order (BTO) projects in Punggol and Yishun.

It said that depending on demand, there could be another 5,000 new BTO flats in towns such as Punggol, Sengkang, Woodlands and Bukit Panjang.

The total planned BTO supply of 6,100 new flats for January till September 2008 will surpass the annual BTO flat supply in 2007 and 2006.

This new supply of flats will be in addition to those offered under Balloting Exercises for surplus replacement SERS and other flats, as well as the planned release of three Design-and-Build sites in Simei, Toa Payoh and Bedok with some 1,500 flats in the 1st half of 2008. - CNA/sf

[Unregistered]

HDB and private property prices up in Q1 flash estimates
Posted: 01 April 2008 1345 hrs

Private residential property prices in Singapore rose 4.2 percent in the first quarter this year, according to the latest preliminary estimates from the Urban Redevelopment Authority.

The pace was slower than the 6.8 percent clip recorded in the fourth quarter of last year.

On a quarter on quarter basis, the biggest rise in property prices for non-landed properties came from the central districts just outside the prime postal districts of 9, 10 and 11.

Prices in these central areas increased 7.7% in January to March, compared with the October to December period.

Properties in the prime districts of 9, 10 and 11, as well as the downtown area and Sentosa, rose 7.5 percent on quarter.

And those in the rest of Singapore advanced about 7 percent in the first quarter from the previous three months.

The preliminary estimates are based on transaction prices given in caveats lodged during the first 10 weeks of the quarter, as well as the number of new units sold.

Meantime, the Housing and Development Board says prices of HDB resale flats rose 3.4 percent in the January to March period over the previous three months.

This is lower than the 5.7% increase in the fourth quarter.

Both the URA and HDB will release final figures at the end of April.

The URA said in its release, that as at 4th Quarter 2007,there are about 64,900 private residential units in the pipeline, of which about 56,100 new private housing units are expected to be completed between 2008 and 2011.

There are also some 38,300 units that have yet to be put on sale by developers.

As for the supply of government flats, the HDB said it had made available in the first quarter of this year, some 1,100 new flats in two Build-To-Order (BTO) projects in Punggol and Yishun.

It said that depending on demand, there could be another 5,000 new BTO flats in towns such as Punggol, Sengkang, Woodlands and Bukit Panjang.

The total planned BTO supply of 6,100 new flats for January till September 2008 will surpass the annual BTO flat supply in 2007 and 2006.

This new supply of flats will be in addition to those offered under Balloting Exercises for surplus replacement SERS and other flats, as well as the planned release of three Design-and-Build sites in Simei, Toa Payoh and Bedok with some 1,500 flats in the 1st half of 2008. - CNA/sf

wah so much increase...great news. run run and buy now.

[Unregistered]

I think the reason why buyer now is not in a rush to own a condo is because they dont really need it. you sell me cheaper, ok i will buy and take the risk but if you dont sell me cheaper then forget it and keep money in the bank for interest. AUD interest is 8%. a very good return.
Thats the attitude of most buyers right now.I am one of them. Dont know how many more ? Any way my FD still in S$. Any risk in AUS$?

[Unregistered]

wah so much increase...great news. run run and buy now.
Woooohahahaha read between the lines. Pathetic. It is going down for sure.

[Unregistered]

I am one of them. Dont know how many more ? Any way my FD still in S$. Any risk in AUS$?
Balance between AUD Euro and US$.

[Unregistered]

wah so much increase...great news. run run and buy now.It came with very very small volume. Really dont know where those buyers from ? My guest, most of them are sell high buy high buyers or "dont know market price" foreigners (they cheong when they see statement like "cheap sell, below valuation, very low price etc.."adv on paper.

[Unregistered]

It came with very very small volume. Really dont know where those buyers from ? My guest, most of them are sell high buy high buyers or "dont know market price" foreigners (they cheong when they see statement like "cheap sell, below valuation, very low price etc.."adv on paper.
Yes no volume at all.

[Unregistered]

AUD $3 million x 8% = $240000

devided by 12= AUD$20000/ months.

no condo rental can beat this!!. ANY???

[Unregistered]

It came with very very small volume. Really dont know where those buyers from ? My guest, most of them are sell high buy high buyers or "dont know market price" foreigners (they cheong when they see statement like "cheap sell, below valuation, very low price etc.."adv on paper.

No point playing the tug and war waiting game with rich Singaporean/foreigners and big time developer. During the toughest of time , the big time developer held on to their landbank for period 3-10 years. This time around, they can hold it out. They hold prices and hold back all the launches and holding cost now is 3% versus 20+% in 19997/98/99 period. Go figure out. There are simply too many millionaire private/HDB landlords today in Singapore.

[Unregistered]

It came with very very small volume. Really dont know where those buyers from ? My guest, most of them are sell high buy high buyers or "dont know market price" foreigners (they cheong when they see statement like "cheap sell, below valuation, very low price etc.."adv on paper.

Its true a lot of foreigners being ceated for the price. pityfull.

[Unregistered]

No point playing the tug and war waiting game with rich Singaporean/foreigners and big time developer. During the toughest of time , the big time developer held on to their landbank for period 3-10 years. This time around, they can hold it out. They hold prices and hold back all the launches and holding cost now is 3% versus 20+% in 19997/98/99 period. Go figure out. There are simply too many millionaire private/HDB landlords today in Singapore.
All the millions is in the air. One big drop and millions wiped out in no time. Better to have real hard thousands than paper millions.

[Unregistered]

No point playing the tug and war waiting game with rich Singaporean/foreigners and big time developer. During the toughest of time , the big time developer held on to their landbank for period 3-10 years. This time around, they can hold it out. They hold prices and hold back all the launches and holding cost now is 3% versus 20+% in 19997/98/99 period. Go figure out. There are simply too many millionaire private/HDB landlords today in Singapore.
Some U.S. Homes Worth Less Than Their Copper Pipes
The New York Times
By REUTERS
Published: March 31, 2008
Filed at 8:14 p.m. ET

BROCKTON, Massachusetts (Reuters) - Shards of broken glass outside the basement window of 31 Vine Street hint at the destruction inside the three-story home.

Thieves smashed the window to break in and then gutted the property for its copper pipes -- a crime that has spread across the United States as the economy slows and foreclosed homes stand empty and vulnerable.

"They cut it here and then pulled it right out of the wall," real estate broker Marc Charney said, pointing to broken plaster near a wrecked baseboard heating system in the 2,774-sq-ft home in Brockton, Massachusetts, a working-class city of 94,304 people.

Similar stories are unfolding nationwide as a glut of home foreclosures coincides with record highs in the price of copper and other metals. Real estate brokers and local authorities say once-proud homes coast-to-coast are being stripped for copper, aluminum, and brass by thieves. Much of it ends up with scrap metal traders who say nearly all copper gets shipped overseas, much of it to China and India.

In areas hit hardest by foreclosures, such as the Slavic Village neighborhood of Cleveland, Ohio, copper and other metals used in plumbing, heating systems and telephone lines are now more valuable than some homes.

"We're in an incredibly unfortunate time where the nonferrous metals commodities market for scrap is at an all-time high. Houses are getting stripped pretty quickly once they go through the foreclosure process," Cleveland city councilor Tony Brancatelli said.

"We're seeing houses sold for $100 that are distressed houses that should not be recycled," he said. Some boarded-up homes in his Slavic Village community have "No copper, only PVC" painted on the boards to stop would-be thieves.

In Brockton, which suffered 400 foreclosures last year, blamed largely on predatory lending, and which is bracing for another 400 this year, Charney said the thieves inflicted about $15,000 of damage on the home on Vine Street.

"I had this property under agreement. We negotiated. The offer was accepted. The buyer came back to the property three weeks later only to find they had gotten in and stolen the copper, so we had to go back to the bank and renegotiate," said Charney, president of CharneyRealEstate.com.

After haggling, the bank shaved $5,000 off the $105,000 price.

"The problem is there's almost no security. Does this look like anybody lives here?" he said, gesturing to the boarded-up home with chipped yellow paint and a "notice of foreclosure" letter affixed to its door.

"It's like a big billboard saying 'come and take me,"' he added. "It's an epidemic."

DEPRESSING HOME PRICES
Jonathan Osman, a broker in Charlotte, North Carolina, said growing numbers of banks are balking at lending to prospective buyers of foreclosed homes that are stripped of copper pipes and other metals, further depressing housing prices.

"If the appraiser spots something that is not right, like copper tubing lying on the floor or something missing a lot of wiring, that's a red flag to the buyer's bank. That will essentially melt down any transaction you've got," he said.

"They don't want to make a $200,000 loan on a house that has serious problems in case the buyer defaults and they are stuck with it," he said in a telephone interview. "It stinks for the banks that have foreclosed on the property because they now have a house that they really can't sell. They have nothing to do but auction it off for whatever they can get for it."

Along with copper, he often sees air conditioners and garbage disposals torn out. "I don't know what the solution is other than for the banks to not put a sign in the window saying the house is vacant," he said, "or maybe keep tenants there."

At least 15 U.S. states -- from California to New York -- drafted legislation in the past year to deal with the problem, from tighter regulations on scrap metals' traders to tougher penalties for metal theft, local authorities and metals industry officials say.

"In my district, we've got a lot of foreclosed homes and we've got a ton of people who are breaking into these homes, stealing the copper wiring right out of the walls," said Andy Meisner, a lawmaker in Michigan's state Legislature who plans an April 15 hearing on two bills intended to tackle the issue. "It is a problem that is really affecting us throughout the whole state," he said. "When all the copper is taken out, the house basically becomes a knock-down. It then has a depressing impact on property values."

He said authorities in Hazel Park, a city in his district, ran a clandestine sting operation on a metal trader. "They saw a guy literally walking down the street with bundles of wire in each hand. They saw him walk into a scrap yard and walk out having sold this scrap he had obviously stolen," he said.

EXPORTED TO CHINA
Several scrap traders contacted by Reuters said they had measures in place to identify metals stolen from homes.

"If somebody looks suspicious we don't buy the material," said Marc Kaplan, one of the largest scrap metals traders in New Jersey. He said scrap copper sells for about $3.50 a pound -- against 70 cents just three years ago.

He and other scrap traders estimate that more than 80 percent of recycled copper is exported to China and India.

Warren Gelman, president of merchant broker Kataman Metals Inc in St Louis, Missouri, said illegal trade is just a small fraction of the scrap metals business.

He notes that the Institute of Scrap Recycling Industries, an industry body, sends frequent alerts to all scrap traders on metal thefts in an attempt to stop illegal deals.

"If local law enforcement has a theft, they report it to us and we then turn around and package it for our members in the region," said the institute's spokesman, Bruce Savage.

"This problem has been gathering a certain amount of momentum over the last year as you've seen commodity prices spike up to record highs at the same time you've got an economy that's teetering domestically," he said.

But real-estate brokers say more needs to be done to stave off further damage to areas hit hard by waves of foreclosures.

"It's happening in too many places throughout the country for people to be saying that they are policing who they are getting it from," said Bill Collins, president of the New Jersey chapter of the National Association of Real Estate Brokers.

(Reporting by Jason Szep; Editing by Eddie Evans)

[Unregistered]

AUD $3 million x 8% = $240000

devided by 12= AUD$20000/ months.

no condo rental can beat this!!. ANY???

Well, the return is superb. But then, tell me brother, how many people have $3 mil?

[Unregistered]

Woooohahahaha read between the lines. Pathetic. It is going down for sure.
The news say it is still going up.
Did I missed anything?

I'm confused by you, maddog.

http://www.channelnewsasia.com/images/CNAlogo.gif
HDB and private property prices up in Q1 flash estimates
Channel NewsAsia
Tuesday, 1 April 2008, 1345 hrs

http://www.channelnewsasia.com/imagegallery/store/phpqVz7c1.jpg

Private residential property prices in Singapore rose 4.2% in the first quarter this year, according to the latest preliminary estimates from the Urban Redevelopment Authority.

The pace was slower than the 6.8% clip recorded in the fourth quarter of last year.

On a quarter on quarter basis, the biggest rise in property prices for non-landed properties came from the central districts just outside the prime postal districts of 9, 10 and 11.

Prices in these central areas (i.e. RCR) increased 7.7% in January to March, compared with the October to December period.

Properties in the prime districts of 9, 10 and 11, as well as the downtown area and Sentosa (i.e. CCR), rose 7.5% on quarter.

And those in the rest of Singapore (i.e. OCR) advanced about 7% in the first quarter from the previous three months.

The preliminary estimates are based on transaction prices given in caveats lodged during the first 10 weeks of the quarter, as well as the number of new units sold.

Meantime, the Housing and Development Board says prices of HDB resale flats rose 3.4% in the January to March period over the previous three months.

This is lower than the 5.7% increase in the fourth quarter.

Both the URA and HDB will release final figures at the end of April.

The URA said in its release, that as at 4th Quarter 2007,there are about 64,900 private residential units in the pipeline, of which about 56,100 new private housing units are expected to be completed between 2008 and 2011.

There are also some 38,300 units that have yet to be put on sale by developers.

As for the supply of government flats, the HDB said it had made available in the first quarter of this year, some 1,100 new flats in two Build-To-Order (BTO) projects in Punggol and Yishun.

It said that depending on demand, there could be another 5,000 new BTO flats in towns such as Punggol, Sengkang, Woodlands and Bukit Panjang.

The total planned BTO supply of 6,100 new flats for January till September 2008 will surpass the annual BTO flat supply in 2007 and 2006.

This new supply of flats will be in addition to those offered under Balloting Exercises for surplus replacement SERS and other flats, as well as the planned release of three Design-and-Build sites in Simei, Toa Payoh and Bedok with some 1,500 flats in the 1st half of 2008.

[Unregistered]

The news say it is still going up.
Did I missed anything?

I'm confused by you, maddog.


This is the best prove & official of property market trend.

[Unregistered]

This is the best prove & official of property market trend.

this are flash estimates, lets's see the actual figures, which will be release officially 4 week later.....

[Unregistered]

AUD $3 million x 8% = $240000

devided by 12= AUD$20000/ months.

no condo rental can beat this!!. ANY???

Do you hedge on the exhange risk?

[Unregistered]

this are flash estimates, lets's see the actual figures, which will be release officially 4 week later.....
Yes volume would be a handful of units.

[Unregistered]

This is the best prove & official of property market trend.

I don't find this forum useful at all.

Since I started visiting this forum in November last year, until now, many people here say that their agents told them that the market has crashed and sellers are desperately looking for buyers.

How come home prices are still going up? I feel deceived.

[Unregistered]

[/size]UBS Says Ospel Resigns After $19 Billion Writedowns [/size]

By Elena Logutenkova

April 1 (Bloomberg) -- UBS AG, struggling to stem damage from the U.S. subprime meltdown, reported a second straight quarterly loss after an additional $19 billion of writedowns and said Chairman Marcel Ospel will step down.

The bank will seek 15 billion francs ($15.1 billion) in a rights offer to replenish capital, after already raising 13 billion francs from investors in Singapore and the Middle East. The writedowns will lead to a first-quarter loss of 12 billion francs and further job reductions, Zurich-based UBS said today.

Ospel, 58, who led the creation of UBS in a merger a decade ago, will be succeeded by 58-year-old general counsel Peter Kurer. Rising U.S. mortgage defaults have caused about $230 billion in credit losses and writedowns at financial companies, and Deutsche Bank AG said today market conditions have become ``significantly more challenging'' in recent weeks. UBS rose as much as 10 percent in Swiss trading today on optimism the largest Swiss bank will recover from its subprime losses.

``It may not have seemed so, but behind closed doors they have been cleaning up very swiftly and the capital increase will put them back onto a solid foundation,'' said Joerg de Vries- Hippen, who oversees about $26 billion, including UBS shares, as chief investment officer for European stocks at Allianz Global Investors in Frankfurt.

UBS rose 1.82 francs to 30.68 francs by 10 a.m. in Zurich. The stock has fallen 41 percent this year, cutting the bank's market value to 63.7 billion francs and making UBS the second- worst performer on the 60-member Bloomberg Europe Banks and Financial Services Index.

UBS Departures

The first-quarter writedown is greater than the $11 billion estimated by analysts at Merrill Lynch and Oppenheimer & Co.

UBS said its Tier 1 capital ratio, a key measure of solvency, will be at about 10.7 percent after the rights offering is completed.

Losses already cost the jobs of former CEO Peter Wuffli, finance chief Clive Standish and investment banking head Huw Jenkins. Ospel, who was supposed to stand for re-election at the shareholders meeting on April 23 for a shortened, one-year term, helped arrange the previous capital increase.

``I ultimately take responsibility for the bank's situation,'' Ospel said in a statement. ``With the measures that we have already taken, the proposals we are submitting to the annual general meeting and the processes we have put in place to deal with lessons learned, I believe that I have made all necessary contributions.''

U.S. Expansion

Kurer, who joined UBS in 2001, has been a member of the executive board since 2002. Before joining the bank, he worked as a lawyer at Homburger Rechtsanwaelte and Baker & McKenzie in Zurich. Ospel told journalists on a conference call that Kurer was chosen because he ``has a profound knowledge of global financial markets and of course of our bank.''

Ospel, a native of the northern Swiss city of Basel, has been UBS's chairman since April 2001. He also was the driving force in the merger of Swiss Bank Corp. and Union Bank of Switzerland. Over time, Ospel solidified his grip on power at the bank even as fellow executives left after losses from the Long-Term Capital Management LP hedge fund in 1998 and the debacle surrounding the bailout of Swissair Group in 2001.

Throughout his years at the bank, Ospel spearheaded UBS's expansion to raise profitability levels closer to competitors in the U.S. In 2000, UBS bought New York-based broker Paine Webber Group Inc. for about $16 billion to build its equities business.

Record Loss

After years of lagging behind competitors in business with fixed-income securities that drove earnings to records across Wall Street, UBS set off on an expansion plan at the peak of the U.S. housing market, only to join the list of investors burned by bets on U.S. mortgages in 2007.

UBS reported a 12.5 billion-franc loss in the fourth quarter, the biggest ever by a bank, and Chief Executive Officer Marcel Rohner told reporters 2008 will be ``another difficult year.''

UBS said in its annual report, published March 27, that it put in place new models for risk management and the valuation of U.S. residential real estate assets at the investment bank in the first quarter.

The bank also set up a group about 50 traders in January, whose task is to manage and reduce more than $70 billion in debt assets affected by the subprime crisis. UBS said today that it will set up a separate unit for the group to ``reduce the effect of distressed market conditions on the core businesses.''

Rohner told journalists on a conference call today that the bank doesn't intend to conduct emergency sales of securities at ``distressed or inappropriate prices.''

Deutsche Writedowns

``UBS is aiming to put a line below its risk exposure problem and refocus on operational businesses,'' Kian Abouhossein, an analyst with JPMorgan Chase & Co. said in a note to clients. ``We expect risk exposed banking peers will follow leading to a potential clearing price environment for the structured credit assets.''

Deutsche Bank, which operates Europe's biggest investment bank by revenue, said today that it expects to book 2.5 billion euros ($3.9 billion) in first-quarter writedowns on leveraged loans, commercial real estate and residential mortgage-backed securities.

UBS's holdings of subprime assets fell to about $15 billion by the end of last month from $27.6 billion on Dec. 31, and Alt- A assets, which fall between prime and subprime, were cut to about $16 billion from $26.6 billion. Auction-rate securities positions, which are also subject to valuation uncertainties, rose to about $11 billion from $5.9 billion.

Terms of Bond

Raising capital again will mean UBS has to renegotiate the terms of the mandatory convertible bond it sold to Government of Singapore Investment Corp. and an unidentified Middle Eastern investor.

Under the terms of the bond, the maximum conversion price for the shares may be lowered if the bank sells more than 5 billion francs of new shares or equity-linked securities at lower prices or with a higher interest payment during one year following December's announcement of the agreement.

New York-based Citigroup Inc. and Merrill Lynch & Co. said in January they will receive $14.5 billion and $6.6 billion from investors respectively, after getting $7.5 billion and $5.6 billion cash infusions in November and December.

[Unregistered]

I don't find this forum useful at all.

Since I started visiting this forum in November last year, until now, many people here say that their agents told them that the market has crashed and sellers are desperately looking for buyers.

How come home prices are still going up? I feel deceived.

Yeah, i felt deceived also. Personally, I dun think the market had crashed, it is just very quiet these few months, with buyers waiting and seller maintaining their prices. It is a matter of who give in first....

[Unregistered]

I don't find this forum useful at all.

Since I started visiting this forum in November last year, until now, many people here say that their agents told them that the market has crashed and sellers are desperately looking for buyers.

How come home prices are still going up? I feel deceived.
Yes you should go out and check to get more details of how much it has crashed by.

[Unregistered]

[b]Deutsche Bank to Write Down Record 2.5 Billion Euros[b]

By Aaron Kirchfeld

April 1 (Bloomberg) -- Deutsche Bank AG, Germany's biggest bank, will write down a record 2.5 billion euros ($3.9 billion) in loans and asset-backed securities for the first quarter and said markets have deteriorated.

Deutsche Bank will cut the value of leveraged-buyout and commercial real-estate loans and residential mortgage-backed securities, the Frankfurt-based company said today.

The reduction in loan and asset values exceeds the 2.3 billion euros of markdowns Deutsche Bank reported for 2007. The bank said a week ago its 2008 pretax profit target is under threat. Swiss rival UBS AG said today Chairman Marcel Ospel will step down after reporting an extra $19 billion of writedowns.

``The subprime crisis is catching up to Deutsche Bank,'' said Konrad Becker, a Munich-based analyst at Merck Finck & Co. who recommends holding the shares. ``This means that Deutsche Bank is at risk of reporting a first-quarter pretax loss, and the full-year target is obsolete.''

Deutsche Bank rose 0.9 percent to 72.31 euros at 10:10 a.m. in Frankfurt trading, and has dropped 20 percent this year.

Chief Executive Officer Josef Ackermann, attending a banking conference in London today, wouldn't answer questions.

Deutsche Bank spokesman Christian Streckert cited last week's annual report when asked today about the 2008 pretax profit forecast of 8.4 billion euros, which excludes one-time effects. The bank on March 26 said writedowns and a worsening economy would ``adversely affect our ability to achieve our pretax profitability objective.''

`More Challenging'

Deutsche Bank said today markdowns on assets backed by residential mortgages ``principally'' involve 7.91 billion euros of so-called ALT-A mortgages, which fall between subprime and prime.

``Conditions have become significantly more challenging during the last few weeks,'' the bank said.

The German bank boosted profit last year after skirting the worst of the U.S. subprime mortgage market meltdown that left Zurich-based UBS and Citigroup Inc. of New York with record losses.

Deutsche Bank reported no net writedowns from debt holdings in the fourth quarter and marked down less than 50 million euros on loans for leveraged buyouts.

The world's largest banks and securities firms have posted writedowns and credit losses of more than $208 billion since the beginning of 2007. Germany's financial regulator BaFin forecast such losses could reach as much as $600 billion.

[Unregistered]

I don't find this forum useful at all.

Since I started visiting this forum in November last year, until now, many people here say that their agents told them that the market has crashed and sellers are desperately looking for buyers.

How come home prices are still going up? I feel deceived.

I u feel deceived, pls dun come in., u must be an agent to talk like tat.
Buyers dun rely on words of agents. agree?? u think agent are smarter than buyers???? it is the money of the buyers who are making the risk not cheap words form agent. Agent till now never say crash, u say only that cos agent not stupid to kill his own trade by saying crash. and if u think prices still up, u go buy la. dun mislead readers here.

[Unregistered]

Since I started visiting this forum in November last year, until now, many people here say that their agents told them that the market has crashed and sellers are desperately looking for buyers.


In one word - volumes.

Very very few units have been sold. The few that have sold might have been choice units or the last panicking buyers. These would show the price as going up.

The rest are waiting and watching.

The 2007 boom was in large part encouraged by agents - who get their cut when transactions happen. If 800K becomes 700K, it doesn't make too much of a difference to their commission. But if 10 sales in Dec become 1 sale in Jan, they have a 90% drop in their income.

Many owners it seems have holding power and aren't interested in selling at lower prices. If prices remain stable and a few people buy, the lower number of transactions won't benefit agents.

But if any owners get concerned and lower their prices to get rid of their properties, many will follow. This would benefit the agents again.

To really understand the panic in the market, you need to see the number of transactions in the last quarter - around 300+, and see the number of agents - probably a few thousand. Then you realize that many of these agents wouldn't have closed any transactions in the past quarter.

[Unregistered]

Woooohahahaha read between the lines. Pathetic. It is going down for sure.

The news say it is still going up.
Did I missed anything?

I'm confused by you, maddog.

http://www.channelnewsasia.com/images/CNAlogo.gif
HDB and private property prices up in Q1 flash estimates
Channel NewsAsia
Tuesday, 1 April 2008, 1345 hrs

http://www.channelnewsasia.com/imagegallery/store/phpqVz7c1.jpg

Private residential property prices in Singapore rose 4.2% in the first quarter this year, according to the latest preliminary estimates from the Urban Redevelopment Authority.

The pace was slower than the 6.8% clip recorded in the fourth quarter of last year.

On a quarter on quarter basis, the biggest rise in property prices for non-landed properties came from the central districts just outside the prime postal districts of 9, 10 and 11.

Prices in these central areas (i.e. RCR) increased 7.7% in January to March, compared with the October to December period.

Properties in the prime districts of 9, 10 and 11, as well as the downtown area and Sentosa (i.e. CCR), rose 7.5% on quarter.

And those in the rest of Singapore (i.e. OCR) advanced about 7% in the first quarter from the previous three months.

The preliminary estimates are based on transaction prices given in caveats lodged during the first 10 weeks of the quarter, as well as the number of new units sold.

Meantime, the Housing and Development Board says prices of HDB resale flats rose 3.4% in the January to March period over the previous three months.

This is lower than the 5.7% increase in the fourth quarter.

Both the URA and HDB will release final figures at the end of April.

The URA said in its release, that as at 4th Quarter 2007,there are about 64,900 private residential units in the pipeline, of which about 56,100 new private housing units are expected to be completed between 2008 and 2011.

There are also some 38,300 units that have yet to be put on sale by developers.

As for the supply of government flats, the HDB said it had made available in the first quarter of this year, some 1,100 new flats in two Build-To-Order (BTO) projects in Punggol and Yishun.

It said that depending on demand, there could be another 5,000 new BTO flats in towns such as Punggol, Sengkang, Woodlands and Bukit Panjang.

The total planned BTO supply of 6,100 new flats for January till September 2008 will surpass the annual BTO flat supply in 2007 and 2006.

This new supply of flats will be in addition to those offered under Balloting Exercises for surplus replacement SERS and other flats, as well as the planned release of three Design-and-Build sites in Simei, Toa Payoh and Bedok with some 1,500 flats in the 1st half of 2008.
Who ask you to listen to Maddog? He is not trustworthy.

He just make sweeping statement such as "it is going down for sure" without even checking the facts.

[Unregistered]

I don't find this forum useful at all.

Since I started visiting this forum in November last year, until now, many people here say that their agents told them that the market has crashed and sellers are desperately looking for buyers.

How come home prices are still going up? I feel deceived.

Both sides are playing the waiting game, as what MM Lee said: let the dust settle down first. Btw, if u are renting, suggest you buy now. Else, be patient, wait for the full report end of the month.

[Unregistered]

I have a house costing $200k and I want to sell $1m. Sure it is my right to sell at any price. BUT GOT BUYERS INTERESTED OR NOT. Thats the point.

[blackjack21trader]

I have a house costing $200k and I want to sell $1m. Sure it is my right to sell at any price. BUT GOT BUYERS INTERESTED OR NOT. Thats the point.

I must say that is a good point you brought up.

[Unregistered]

I don't find this forum useful at all.

Since I started visiting this forum in November last year, until now, many people here say that their agents told them that the market has crashed and sellers are desperately looking for buyers.

How come home prices are still going up? I feel deceived.


It's not you are deceived.
You live in denial, so many people in this forum told you so, you refused to listen & accept.
Hold on to your property, a good run like last year will be here again, look at Shanghai now,




上海楼市行情反弹


上海楼市量价齐涨重演去年反弹行情http://www.sina.com.cn 2008年04月01日 02:18 中国证券报-中证网
　　□新华社记者 徐寿松 蔡国兆
　　“人们最担心发生的某种情况往往真的会发生。”墨菲定律在上海楼市再次得到印证。进入3月以来，上海商品房成交量骤增，单日成交突破千套，房价亦随之上行。去年春夏之交的楼市“报复性”弹升行情又将重演吗？
　　成交急速放量
　　上海市房地产交易中心数据显示，3月28日上海市一手房签约1059套，这是最近十天内(19日-28日)新房日成交量第四次突破千套大关。3月25 日成交1032套、3月24日成交1071套、3月19日成交1024套，成交面积均在9万平方米以上，其中八成以上是住宅。
　　进入3月份以来，上海楼市成交日益放量，从日成交不足400套一路走高。记者对3月前28天的数据统计显示，一手房总共成交近2万套，日均成交710套。
　　值得注意的是，成交量日渐放大的势头非常明显：3月第一个完整周(3日-9日)成交3985套，第二个完整周(10日-16日)成交4581 套，第三个完整周(17日-23日)成交5260余套。3月最后一周的成交量更是骤增，日均成交套数已接近900套，是去年底至今年2月日均成交量的3 倍。
　　就交易量而言，上海楼市已然回暖。上海佑威房地产研究中心主任薛建雄指出，成交量频频突破千套，即使在房地产市场行情很好的时候也是较为少见的。
　　据分析，促使近期上海房地产成交量大幅上扬有两方面因素：一是新盘扎堆上市、供应量上升；二是政府动迁配套房成交增多。即便剔除配套房因素，市场化住宅成交快速攀升仍是势不可挡。上海佑威房地产研究中心的数据显示，在3月11日-25日这半个月内，商品住宅供应量环比(2月25日-3月10日)飙升 125%，成交量上升51%，平均成交价格涨近两成。
　　跳价卷土重来
　　伴随交易量的上升，开发商似已探明消费者的心理底线，热点地区的一些楼盘开始提价。
　　在3月中旬的春季房展会上，一些楼盘见展会期间人气很旺，即低开高走。展会首日，某楼盘报价每平方米2.25万元，第三天报价涨至每平方米2.3万元，而此前一周其最低售价还只有每平方米2.1万元。
　　3月中下旬新上市的楼盘价格更是普遍上涨。据上海市网上房地产公开信息统计，在曾有前期推盘的15个楼盘中，13个楼盘价格比上一批房源价格明显上涨，只有2个楼盘价格微跌，跌幅不过每平方米一二百元，而涨幅则在每平方米一两千元。
　　楼市回暖甚至出现热销的势头给了开发商再度涨价——或者说执行“低开高走”销售策略的信心。一些房地产企业在内部定价会上明确，销售部门可根据市场情况，自行上浮5%至10%。
　　不仅仅是新的商品房市场在涨价，二手房市场的跳价更为“露骨”。某楼盘一套73平方米的小居室3月上旬还挂价130万元，等到下旬记者再次询问，房东已跳到160万元。

[Unregistered]

Well, the return is superb. But then, tell me brother, how many people have $3 mil?

Those homebuyers lah who bought $4m-$10m condo.
Those $10m condo some of them dont even fetch SG$25000/month.

[Unregistered]

Both sides are playing the waiting game, as what MM Lee said: let the dust settle down first. Btw, if u are renting, suggest you buy now. Else, be patient, wait for the full report end of the month.


The last two times property market caught fire in Singapore, it ended up burning everyone with extreme crashes.
Once it was the Asian Financial Crisis. Other time was SARS.

This time you have the global financial crisis. Last time Ringgit being devalued caused such a problem in the region. This time the US$ is going down and we have a food shortage. I feel that this time its going to be much worse and the effects will be just as bad. OK so the IR and F1 are coming, but if high-rollers have lost their money, who is going to come and spend here on those items.

Also consider the price of properties in relation to people's incomes. A million dollars is a million dollars. Very few countries in the world can afford house prices at that level. Do Singaporeans have enough per capita income to support these prices?

[toaler]

What a moron. Once crash happens you won't be here. You would be as good as dead along with the other speckys. The important thing is to act before it happens and not wait till it kills you. It is at your doorstep. Ofcourse if you are a frog in your well you wont see it coming. What a moron.

Haha Dont worry I will still be around and happily shopping for a 2nd pte property if the crash does come. So dont worry for me. If the crash doesn't come, the cash will just sit around in the other investments options available. :)

[Unregistered]

It's not you are deceived.
You live in denial, so many people in this forum told you so, you refused to listen & accept.
Hold on to your property, a good run like last year will be here again, look at Shanghai now,




上海楼市行情反弹


上海楼市量价齐涨重演去年反弹行情http://www.sina.com.cn 2008年04月01日 02:18 中国证券报-中证网
　　□新华社记者 徐寿松 蔡国兆
　　“人们最担心发生的某种情况往往真的会发生。”墨菲定律在上海楼市再次得到印证。进入3月以来，上海商品房成交量骤增，单日成交突破千套，房价亦随之上行。去年春夏之交的楼市“报复性”弹升行情又将重演吗？
　　成交急速放量
　　上海市房地产交易中心数据显示，3月28日上海市一手房签约1059套，这是最近十天内(19日-28日)新房日成交量第四次突破千套大关。3月25 日成交1032套、3月24日成交1071套、3月19日成交1024套，成交面积均在9万平方米以上，其中八成以上是住宅。
　　进入3月份以来，上海楼市成交日益放量，从日成交不足400套一路走高。记者对3月前28天的数据统计显示，一手房总共成交近2万套，日均成交710套。
　　值得注意的是，成交量日渐放大的势头非常明显：3月第一个完整周(3日-9日)成交3985套，第二个完整周(10日-16日)成交4581 套，第三个完整周(17日-23日)成交5260余套。3月最后一周的成交量更是骤增，日均成交套数已接近900套，是去年底至今年2月日均成交量的3 倍。
　　就交易量而言，上海楼市已然回暖。上海佑威房地产研究中心主任薛建雄指出，成交量频频突破千套，即使在房地产市场行情很好的时候也是较为少见的。
　　据分析，促使近期上海房地产成交量大幅上扬有两方面因素：一是新盘扎堆上市、供应量上升；二是政府动迁配套房成交增多。即便剔除配套房因素，市场化住宅成交快速攀升仍是势不可挡。上海佑威房地产研究中心的数据显示，在3月11日-25日这半个月内，商品住宅供应量环比(2月25日-3月10日)飙升 125%，成交量上升51%，平均成交价格涨近两成。
　　跳价卷土重来
　　伴随交易量的上升，开发商似已探明消费者的心理底线，热点地区的一些楼盘开始提价。
　　在3月中旬的春季房展会上，一些楼盘见展会期间人气很旺，即低开高走。展会首日，某楼盘报价每平方米2.25万元，第三天报价涨至每平方米2.3万元，而此前一周其最低售价还只有每平方米2.1万元。
　　3月中下旬新上市的楼盘价格更是普遍上涨。据上海市网上房地产公开信息统计，在曾有前期推盘的15个楼盘中，13个楼盘价格比上一批房源价格明显上涨，只有2个楼盘价格微跌，跌幅不过每平方米一二百元，而涨幅则在每平方米一两千元。
　　楼市回暖甚至出现热销的势头给了开发商再度涨价——或者说执行“低开高走”销售策略的信心。一些房地产企业在内部定价会上明确，销售部门可根据市场情况，自行上浮5%至10%。
　　不仅仅是新的商品房市场在涨价，二手房市场的跳价更为“露骨”。某楼盘一套73平方米的小居室3月上旬还挂价130万元，等到下旬记者再次询问，房东已跳到160万元。

YES SHANGHAI 6000 PTS IN OCTOBER AND NOW 3000 PTS. SO BE READY FOR A 50% DROP.

[toaler]

Also consider the price of properties in relation to people's incomes. A million dollars is a million dollars. Very few countries in the world can afford house prices at that level. Do Singaporeans have enough per capita income to support these prices?

That's an interesting statement. Please check out the per capita income of other 1st world countries (ie Hong Kong, Japan, UK etc) and compare it to the property prices there too. You are in for a surprise.

[Unregistered]

That's an interesting statement. Please check out the per capita income of other 1st world countries (ie Hong Kong, Japan, UK etc) and compare it to the property prices there too. You are in for a surprise.

I was hoping someone else would save me the trouble, but since you asked, I checked.

Singapore has a PCI of around US$30K, HK is US$28K, Japan is 35K, UK is 40-45K.

In London you can get landed property in Zone 1 for around SGD 600K (around GBP 200K). This I know because friends of mine have bought such places.

HK and Tokyo prices I don't know, perhaps others on this thread can help with answers to that. When giving prices, please also describe the type and location of property (e.g. condo in Mid-Levels or apt. in New Territories)

[Unregistered]

Those homebuyers lah who bought $4m-$10m condo.
Those $10m condo some of them dont even fetch SG$25000/month.

Do you think these buyers who pay $10M will be concerned with rent at $25K or $35K? Think.

More likely, the one who bought at $1M+- are more concerned if the rental can fetch $4k or $4.5K.

[Unregistered]

Do you think these buyers who pay $10M will be concerned with rent at $25K or $35K? Think.

More likely, the one who bought at $1M+- are more concerned if the rental can fetch $4k or $4.5K.

Just like a person who bought a million $ Ferrari will not be concerned about high petrol price. The one who bought a Hyudai or Proton is more concerned.

[Unregistered]

YES SHANGHAI 6000 PTS IN OCTOBER AND NOW 3000 PTS. SO BE READY FOR A 50% DROP.

Dropped from 6000 pts (Oct 07) to 3000+ pts (now) still can hold the value and keep increasing. Imagine if the index shot back to 6000 pts, it will be through the roof and beam into outer space.

[Unregistered]

Woooohahahaha read between the lines. Pathetic. It is going down for sure.

The news say it is still going up.
Did I missed anything?

I'm confused by you, maddog.

http://www.channelnewsasia.com/images/CNAlogo.gif
HDB and private property prices up in Q1 flash estimates
Channel NewsAsia
Tuesday, 1 April 2008, 1345 hrs

http://www.channelnewsasia.com/imagegallery/store/phpqVz7c1.jpg

Private residential property prices in Singapore rose 4.2% in the first quarter this year, according to the latest preliminary estimates from the Urban Redevelopment Authority.

The pace was slower than the 6.8% clip recorded in the fourth quarter of last year.

On a quarter on quarter basis, the biggest rise in property prices for non-landed properties came from the central districts just outside the prime postal districts of 9, 10 and 11.

Prices in these central areas (i.e. RCR) increased 7.7% in January to March, compared with the October to December period.

Properties in the prime districts of 9, 10 and 11, as well as the downtown area and Sentosa (i.e. CCR), rose 7.5% on quarter.

And those in the rest of Singapore (i.e. OCR) advanced about 7% in the first quarter from the previous three months.

The preliminary estimates are based on transaction prices given in caveats lodged during the first 10 weeks of the quarter, as well as the number of new units sold.

Meantime, the Housing and Development Board says prices of HDB resale flats rose 3.4% in the January to March period over the previous three months.

This is lower than the 5.7% increase in the fourth quarter.

Both the URA and HDB will release final figures at the end of April.

The URA said in its release, that as at 4th Quarter 2007,there are about 64,900 private residential units in the pipeline, of which about 56,100 new private housing units are expected to be completed between 2008 and 2011.

There are also some 38,300 units that have yet to be put on sale by developers.

As for the supply of government flats, the HDB said it had made available in the first quarter of this year, some 1,100 new flats in two Build-To-Order (BTO) projects in Punggol and Yishun.

It said that depending on demand, there could be another 5,000 new BTO flats in towns such as Punggol, Sengkang, Woodlands and Bukit Panjang.

The total planned BTO supply of 6,100 new flats for January till September 2008 will surpass the annual BTO flat supply in 2007 and 2006.

This new supply of flats will be in addition to those offered under Balloting Exercises for surplus replacement SERS and other flats, as well as the planned release of three Design-and-Build sites in Simei, Toa Payoh and Bedok with some 1,500 flats in the 1st half of 2008.

Who ask you to listen to Maddog? He is not trustworthy.

He just make sweeping statement such as "it is going down for sure" without even checking the facts.
mad dog ?? he dare to appear here ??
say Q3 07 will drop , Q3 07 went up .
say Q4 07 will drop , Q4 07 went up .
say Q1 08 will drop , Q1 08 went up.
all bullshit !!
not - all dogshit !!

[Unregistered]

Will the property prices keep rising in stagflation?

http://www.bloomberg.com/apps/news?pid=20601039&refer=columnist_mukherjee&sid=aZM2OxYMU7f8

[Unregistered]

Will the property prices keep rising in stagflation?

http://www.bloomberg.com/apps/news?pid=20601039&refer=columnist_mukherjee&sid=aZM2OxYMU7f8

No but since there is no stagflation here, it will continue to rise.

[Unregistered]

YES SHANGHAI 6000 PTS IN OCTOBER AND NOW 3000 PTS. SO BE READY FOR A 50% DROP.


That is stock market.
2 yrs ago, 3/2006, SSE at 1100, went up to 6000, now at 3300, still up 300% from 2 yrs ago.
But their property price up since yr 2000, till now easily up 500% in last 8 yrs. Now Shanghai property surge again 20% in last month.
Property once run, it will up 20-30% within 1 month, Spore property will be ready soon after those weak holder sold their property.

[Unregistered]

My stupid reliable source told me it is going down in Q1.

There may be some truth in that.

The last two times property market caught fire in Singapore, it ended up burning everyone with extreme crashes.
Once it was the Asian Financial Crisis. Other time was SARS.

This time you have the global financial crisis. Last time Ringgit being devalued caused such a problem in the region. This time the US$ is going down and we have a food shortage. I feel that this time its going to be much worse and the effects will be just as bad. OK so the IR and F1 are coming, but if high-rollers have lost their money, who is going to come and spend here on those items.

I know. Believe me. I like you also like to talk, talk, talk. Say this, say that.

Anyway, to put it simply, that stupid source is simply unreliable!
Let's face it. We're all wrong! Wrong, wrong, wrong! All wrong!

Fedup!
Siao lah! Fedup for what?
Most important thing is what are you going to do about it.

[Unregistered]

No but since there is no stagflation here, it will continue to rise.

If you click on the link, you'll see the article is about stagflation in Singapore.

We all know prices of food and everyday items are rising, at the same time the government has reduced the growth estimates. In Q407, GDP contracted by 5%. Q108 also shows contraction - its an official recession.

According to govt. statistics, we have a recession.
According to govt. statistics, we have inflation.
Recession + Inflation means Stagflation.

So if according to the Singapore government we have stagflation, what do you think is going to happen to the property prices?

Also, see the last line in this quote from the URA:


The Government will continue to monitor prices closely and release relevant price sensitive information in a timely manner. On the supply side, as at 4th Quarter 2007, there are about 64,900 private residential units in the pipeline, of which about 56,100 new private housing units are expected to be completed between 2008 and 2011. About 38,300 units of the supply in the pipeline (or 59%) have not been sold by developers yet. Prospective home-buyers are advised to take into consideration the ample pipeline supply of private housing when making decisions on property purchase.

[2nd property]

Haha Dont worry I will still be around and happily shopping for a 2nd pte property if the crash does come. So dont worry for me. If the crash doesn't come, the cash will just sit around in the other investments options available. :)

First private property bought cheap cheap few years back. Now appreciate more than 40%. Even market dip 20%, still can sell and make $$$.

Another FH condo at D15 bought last year. Already appreciate more than 20%. If market dip more than 20% or crash, I will keep for renting out.

Like Toaler, I will be very happy to shop for a 3rd property if market crash. (I will then convert my other investment option ---(wine investment) into 3rd property investment. (Buai Si - Won't die one)

[Unregistered]

If you click on the link, you'll see the article is about stagflation in Singapore.

We all know prices of food and everyday items are rising, at the same time the government has reduced the growth estimates. In Q407, GDP contracted by 5%. Q108 also shows contraction - its an official recession.

According to govt. statistics, we have a recession.
According to govt. statistics, we have inflation.
Recession + Inflation means Stagflation.

So if according to the Singapore government we have stagflation, what do you think is going to happen to the property prices?

Also, see the last line in this quote from the URA:
Q1 08 contracted by how much? 5%? 0% -5%?

[Unregistered]

Q1 08 contracted by how much? 5%? 0% -5%?
-5%? It's a growth.
He is just trying to bullshit us.

[toaler]

If you click on the link, you'll see the article is about stagflation in Singapore.

We all know prices of food and everyday items are rising, at the same time the government has reduced the growth estimates. In Q407, GDP contracted by 5%. Q108 also shows contraction - its an official recession.

According to govt. statistics, we have a recession.
According to govt. statistics, we have inflation.
Recession + Inflation means Stagflation.

So if according to the Singapore government we have stagflation, what do you think is going to happen to the property prices?

Also, see the last line in this quote from the URA:

Singapore is in a recession?!!Now that's new

[Unregistered]

Q1 08 contracted by how much? 5%? 0% -5%?

I don't know, the quarter has just ended, lets see what the official statistics say when they come out.

My question was that IF there is an official stagflation in Singapore, what do we think is going to happen to Singapore property? Will it be like the previous times? Or will we be safer this time?

[Unregistered]

I don't know, the quarter has just ended, lets see what the official statistics say when they come out.

My question was that IF there is an official stagflation in Singapore, what do we think is going to happen to Singapore property? Will it be like the previous times? Or will we be safer this time?
Oh! OK. You were guessing.

Shall we wait for Q1 08 GDP result before we conclude if there is a recession and stagflation?

The wait is a short one.

[Unregistered]

My suggestion to all ppty owners is to continue to hold your units. Don't let go easily. It comes to a point very soon that ppl will start to realize that in order to preserve their assets value is to invest in ppty to hedge the monster inflation that looming into Asia.

Mark my words, Singapore ppty prices will continue to appreciate and double in a year or two.

[Unregistered]

First private property bought cheap cheap few years back. Now appreciate more than 40%. Even market dip 20%, still can sell and make $$$.

Another FH condo at D15 bought last year. Already appreciate more than 20%. If market dip more than 20% or crash, I will keep for renting out.

Like Toaler, I will be very happy to shop for a 3rd property if market crash. (I will then convert my other investment option ---(wine investment) into 3rd property investment. (Buai Si - Won't die one)

Haizzz 20% only. put AUD 3 yrs already 24% and liquid asset some more.

[Unregistered]

First private property bought cheap cheap few years back. Now appreciate more than 40%. Even market dip 20%, still can sell and make $$$.

Another FH condo at D15 bought last year. Already appreciate more than 20%. If market dip more than 20% or crash, I will keep for renting out.

Like Toaler, I will be very happy to shop for a 3rd property if market crash. (I will then convert my other investment option ---(wine investment) into 3rd property investment. (Buai Si - Won't die one)


Haizzz 20% only. put AUD 3 yrs already 24% and liquid asset some more.

Firstly, you forgot the rental yield of approximately 5% p.a.This is assuming that the person pays for the property with his own money and doesn't take a loan from the bank, so that there is no mortgage interest.

Secondly, the quantum of investment in properties is much greater than investments in foreign currencies. You are usually using a bank loan for leverage when purchasing a property, but no bank will lend you money to place in Aussie dollars (I'll talk about margin trading accounts later).

Let's say you have SGD 250,000.

If you place in Aussie dollars to earn 8% p.a. or 24% for 3 years, the gain is $60,000 for three years.

If you use the same amount to place a 20% deposit for a condo in D11 or D15 three years ago, that would have earned you far superior returns. For example,

Newton Suites (District 11)

6 Jun 2005 #34-02 1,238 sf S$1,158,000 ($935 psf)

26 Feb 2008 #34-02 1,238 sf $2,352,200 (1,900 psf)

The person who has bought and sold this unit has made $1,194,200 in 2 years and 8 months.

Percentage wise that's 103% over 2 years 8 months, or 38.7% per year.

Twin Regency (District 4)

20 July 2004 #35-02 980 sf S$773,500 ($790 psf)

19 Nov 2007 #35-02 980 sf $1,400,000 (1,429 psf)

The person who has bought and sold this unit has made $626,500 in 3 years and 4 months.

Percentage wise that's 81% over 3 years 4 months, or 24.3% per year.

Of course, such percentage increases may not be sustainable in future.

What I want to point is that the quantum of investment is very high in property because it's a highly leveraged investment. Of course it can cut both ways, and the magnitude of loss can also be very high.

Of course for foreign currencies, you can also leverage using those margin trading accounts, but you must remember you are playing against the bank's top traders. Can you beat them in the game?

[Unregistered]

My suggestion to all ppty owners is to continue to hold your units. Don't let go easily. It comes to a point very soon that ppl will start to realize that in order to preserve their assets value is to invest in ppty to hedge the monster inflation that looming into Asia.

Mark my words, Singapore ppty prices will continue to appreciate and double in a year or two.
WORDS ARE CHEAP AND EASY

[Unregistered]

I don't know, the quarter has just ended, lets see what the official statistics say when they come out.

My question was that IF there is an official stagflation in Singapore, what do we think is going to happen to Singapore property? Will it be like the previous times? Or will we be safer this time?

This is going to happen.
April 2, 2008, The Straits Times
Property market may stay quiet for up to a year
Home prices, sales could remain weak as US sub-prime concerns linger
By Fiona Chan, Property Reporter

A MONTH ago, property consultants were predicting that the cooling market would pick up after June. That optimism has fast drained away.
Consultants now expect home prices and sales to remain weak for up to a year from now, after official estimates yesterday confirmed that price growth was tapering off.

'We can expect residential prices to continue weakening over the next 12 months', in the light of the United States sub-prime debacle and an expected US recession, said Jones Lang LaSalle (JLL). Other consultancies, such as CB Richard Ellis Research, believe price growth will slow further in the second quarter, to '1 per cent or 2 per cent'.

Home sales are also plunging as buyers retreat - and they are expected to stay low as sellers dig in their heels to wait out the slowdown. New home sales were likely to have dropped in the first quarter to one of the lowest levels ever, second only to those recorded during the Sars period.

In the secondary market, sales have fallen to 2005 levels, according to estimates from Savills Singapore. Mid-tier private properties on the city fringe, such as in Novena, Toa Payoh, Marine Parade and Queenstown, are likely to be hardest hit by falling buyer demand. These areas saw the biggest slowdown in price growth in the first 10 weeks of the year, suggesting that prices in these regions may be peaking, said JLL. Buyers in these areas have shallower pockets and are more sensitive to market sentiment, it added.

In the HDB segment, prices have stabilised at about $50,000 cash over valuation or less, said Mr Eugene Lim, assistant vice-president at ERA Realty Network. 'Resale flats priced higher than that take much longer to sell or may not sell at all.'

Phillip Securities Research, meanwhile, aired concerns over the 'huge supply' of homes due to be completed in the next two years. Supply is 'expected to exceed the demand from buyers and result in a slide in local property prices from 2010', it said. HDB plans to release another 5,000 new build-to-order flats in the next six months. There are also 64,900 private homes in the pipeline, of which 90 per cent will be completed by 2011, while 60 per cent have yet to be sold.

Most experts believe, however, that confidence and demand will return by year-end - as long as the Singapore economy stays robust. 'Sellers now take a while to sell their homes, but there are still buyers,' said Mr Eric Cheng, the executive director of HSR property group. 'Last year, it took maybe a month to sell a home. Now, it takes two months. But in 2000 or 2002, it took a year,' he said.

[Unregistered]

This is going to happen.
April 2, 2008, The Straits Times
Property market may stay quiet for up to a year
Home prices, sales could remain weak as US sub-prime concerns linger
By Fiona Chan, Property Reporter

.........
What is going to happen?
That the US sub-prime concern is going away?

Yes, you are right.
The problem is there but the concern is going away.
So no point bringing up this concern thingy since it is going away.

If the concern remain, property sales may remain weak. Now that it is going away, .....

http://www.ap.org/media/images/logo.gif
Bank news and economic data boosts stocks to a big rally
Joe Bel Bruno
Business Writer
Associated Press
New York, New York, U.S.
Tuesday, 1 April 2008, 7:31PM U.S. EDT

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Traders work on the floor of the New York Stock Exchange April 1, 2008. U.S. stocks extended gains on Tuesday, lifting the benchmarks S&P 500 and the NASDAQ up more than 3% as Lehman Brothers Holdings Inc.'s move to bolster its balance sheet calmed worries about the financial sector's stability. - Photo: Brendan McDermid, AP

Wall Street began the second quarter with a big rally Tuesday as investors rushed back into stocks, optimistic that the worst of the credit crisis has passed and that the economy is faring better than expected. The Dow Jones industrials surged nearly 400 points, and all the major indexes were up more than 3%.

Financial stocks were among the big winners after Lehman Brothers Holdings Inc. and Switzerland's UBS AG issued new shares to help bolster their balance sheets. With that upbeat news and a fresh quarter ahead of them, investors appear quite willing to make some bets that the worst of the damage from the nation's credit struggles has been felt. Moreover, the banks' moves buttressed the view that financial services companies are taking aggressive action to improve their capital bases and stave off the potential of a collapse similar to Bear Stearns Cos.

Analysts believe there must be a recovery in bank and brokerages to lead major stock indexes higher. Some of the biggest financial players had their sharpest moves of the year Tuesday — Citigroup Inc. shot up 11%, JPMorgan Chase & Co. rose 9%, and Lehman surged 18%.

"Investors have a difficult time making decisions about the stock market if they don't have confidence in major financial institutions, so there's been a lot of sideline cash," said Richard Cripps, chief market strategist for Stifel Nicolaus. "The extreme conditions that we've seen here over the past few months has been missing that confidence ... but that appears to be changing, and we're seeing the response."

Meanwhile, Wall Street got another boost when the Institute for Supply Management said its March index of national manufacturing activity rose to a reading of 48.6 — indicating a contraction, but a slower one than in February and tamer than many analysts had predicted. Government data on construction spending for February also came in better than expected.

The Dow rose 391.47, or 3.19 percent, to 12,654.36. It marked the eighth-biggest point gain ever for the Dow, and the third time in two weeks it came close to or surpassed 400 points.

Broader stock indicators also gained sharply. The Standard & Poor's 500 index rose 47.48, or 3.59%, to 1,370.18 — the index's best start to a second quarter since 1938. And, the Nasdaq composite index rose 83.65, or 3.67%, to 2,362.75.

The advance was in contrast to a lackluster session on Monday, where stocks managed a moderate gain in the final session of a dismal first quarter. Major indexes ended the first three months of 2008 with massive losses, marking the worst period since the third quarter of 2002 when Wall Street was approaching the lowest point of a protracted bear market.

Renewed enthusiasm that the credit crisis might be waning was also felt in the Treasury market, where government securities fell as investors withdrew money to take bets on stocks. The 10-year Treasury note's yield, which moves opposite its price, rose to 3.55% from 3.43% late Monday. The yield edged up to 3.56% in after-hours trading.

In addition to hopes about the financial sector, Wall Street was relieved to see the feeble dollar regain some strength against the euro. The euro fell to $1.5596 from $1.5785 late Monday in New York.

And there was also optimism that commodities prices, which have hit historic highs in recent months, have begun to retreat. Crude fell 60 cents to settle at $100.98 on the New York Mercantile Exchange after earlier falling below $100. Meanwhile, gold dropped back below $900 an ounce.

"This is a nice way to begin the second quarter," said Todd Leone, managing director of equity trading at Cowen & Co. "All the financials are up big, and there's a sense that things are turning. We definitely have not seen the last of the credit crisis, but we're getting closer."

The stock rally was underpinned by the announcements from UBS and Lehman Brothers that they are boosting capital by issuing new stock. Shares of banks and brokerages hovered near multiyear lows in recent months as investors feared heavy losses from investments tied to subprime mortgages would be overwhelming.

Earlier this month, widespread concerns about Bear Stearns' financial position forced the investment bank to sell itself to JPMorgan in a deal engineered by the Federal Reserve — and that stoked fears that other investment houses might follow.

JPMorgan rose $4.05, or 9.4%, to $47; while Bear Stearns was up 36 cents, or 3.4%, to $10.85 — slightly above the $10 per share acquisition price.

UBS, one of Europe's biggest banks, said it will issue up to $15 billion in new stock and that its chairman, Marcel Ospel, had quit. Investors chose to look past the bank's announcement that it will take a fresh $19 billion write-down due to additional declines in the value of its mortgage assets and other credit instruments, following an $18 billion write-down last year. Its shares surged $4.21, or 14.6%, to $33.01 in trading on the New York Stock Exchange.

Lehman Brothers, dogged by speculation it might reveal losses big enough to cripple the company, on Tuesday raised $4 billion of capital to stymie questions about its financial stability. Lehman rose $6.70, or 17.8%, to $44.34.

The Russell 2000 index of smaller companies rose 22.68, or 3.30%, to 710.65.

Advancing issues outnumbered decliners by about 4 to 1 on the New York Stock Exchange, where consolidated volume came to a heavy 4.65 billion shares, compared to 4.02 billion on Monday.

In overseas trade, Tokyo's Nikkei closed up 1.04%. There were gains in Europe too, with London's FTSE rising 2.64%, Frankfurt's DAX gaining 2.84% and Paris' CAC 40 advancing 3.38%.

[Unregistered]

What is going to happen?
That the US sub-prime concern is going away?

Yes, you are right.
The problem is there but the concern is going away.
So no point bringing up this concern thingy since it is going away.

If the concern remain, property sales may remain weak. Now that it is going away, .....

Yes you are right. The concern is indeed going away.

Notice that yesterday UBS announced another USD 19 billion of further writedowns and instead of plunging down, the Dow Jones index shot up 319.47 points (3.19%), with UBS rising 12.26%.

In the past, such news would have sent the market plunging and then Bernanke would have to step in again.

Now looks like the bears (and sour grapes) are getting pretty scared.

Previously, they would gleefully look forward to the news of yet another bank or financial institution writing down another few billions here and there.

Some sour grapes even like to cut and paste such news in this forum but today I don't see any "UBS Writes Down Another USD 19 Billion".

So it's my turn to cut and paste, but don't worry I'll just paste one paragraph and not flood up the whole forum, unlike what they do ...


UBS was the market's top performer, surging 3.54 francs or 12.26 percent to 32.4, after it announced fresh writedowns of over $19 billion, which will result in a first quarter net loss of 12 billion francs.

[Unregistered]

The last two times property market caught fire in Singapore, it ended up burning everyone with extreme crashes.
Once it was the Asian Financial Crisis. Other time was SARS.

This time you have the global financial crisis. Last time Ringgit being devalued caused such a problem in the region. This time the US$ is going down and we have a food shortage. I feel that this time its going to be much worse and the effects will be just as bad. OK so the IR and F1 are coming, but if high-rollers have lost their money, who is going to come and spend here on those items.

Also consider the price of properties in relation to people's incomes. A million dollars is a million dollars. Very few countries in the world can afford house prices at that level. Do Singaporeans have enough per capita income to support these prices?

Majority, I believe, yes. But do we have to guarantee every body that every one of them will hv a house their own.

This nation is going thru a major transformation. The targeted increase of population from 4.5 million to 6.5 million itself has indicated a very ambitious plan. I believe 100% home ownership will be soon be a thing of the past. No nation can and have to achieve that.

[Unregistered]

Majority, I believe, yes. But do we have to guarantee every body that every one of them will hv a house their own.

This nation is going thru a major transformation. The targeted increase of population from 4.5 million to 6.5 million itself has indicated a very ambitious plan. I believe 100% home ownership will be soon be a thing of the past. No nation can and have to achieve that.

The 1st thing to do, is to transfrom u from a moron to a hunman.

[Unregistered]

Yes you are right. The concern is indeed going away.

Notice that yesterday UBS announced another USD 19 billion of further writedowns and instead of plunging down, the Dow Jones index shot up 319.47 points (3.19%), with UBS rising 12.26%.

In the past, such news would have sent the market plunging and then Bernanke would have to step in again.

Now looks like the bears (and sour grapes) are getting pretty scared.

Previously, they would gleefully look forward to the news of yet another bank or financial institution writing down another few billions here and there.

Some sour grapes even like to cut and paste such news in this forum but today I don't see any "UBS Writes Down Another USD 19 Billion".

So it's my turn to cut and paste, but don't worry I'll just paste one paragraph and not flood up the whole forum, unlike what they do ...



both MM & MBT said the slowdown in spore property market due to US subprime & credit issue.
Now the concern have go away, banks has recovered from their bottom, the impact from these problem should also go away in spore in time to come.
So get ready for the next surge in property price to come, let developers trigger the buying spree. The crowd will be back in no time.
Those want to wait, continue to wait till cow comes back.

[Unregistered]

both MM & MBT said the slowdown in spore property market due to US subprime & credit issue.
Now the concern have go away, banks has recovered from their bottom, the impact from these problem should also go away in spore in time to come.
So get ready for the next surge in property price to come, let developers trigger the buying spree. The crowd will be back in no time.
Those want to wait, continue to wait till cow comes back.
Probably you never heard of a dead cat bounce.
You have no brains to guage for yourself and want others to spoon feed you. Moron. Go buy into this bounce and then lick your wounds.

[Unregistered]

Probably you never heard of a dead cat bounce.
You have no brains to guage for yourself and want others to spoon feed you. Moron. Go buy into this bounce and then lick your wounds.
Dead cat bounce?
Which cat is dead? You, the moron cat, are dead?

You may be dead but the market is surging from this point onwards.

[Unregistered]

Dead cat bounce?
Which cat is dead? You, the moron cat, are dead?

You may be dead but the market is surging from this point onwards.
LOL SUCH AMATEURS ON THIS FORUM.
CANT EVEN TELL THE DIFFERENCE BETWEEN SINGULAR AND PLURAL. HAS TO BE 'IS DEAD' NOT 'ARE DEAD'.
HAVE MORON CAT ALSO? I AM SURE YOU DISCOVERED IT TODAY WHEN YOU LOOKED IN THE MIRROR LOL.

[Unregistered]

LOL SUCH AMATEURS ON THIS FORUM.
CANT EVEN TELL THE DIFFERENCE BETWEEN SINGULAR AND PLURAL. HAS TO BE 'IS DEAD' NOT 'ARE DEAD'.
HAVE MORON CAT ALSO? I AM SURE YOU DISCOVERED IT TODAY WHEN YOU LOOKED IN THE MIRROR LOL.
Wah, what a stupid moron!

We all say, "You are dead" mah.
Got people say "you is dead" meh?

So he is right to say "you, the moron cat, are dead"
Ha ha ha!
Index up only 4.2%, you panic so much for what?

[Unregistered]

Wah, what a stupid moron!

We all say, "You are dead" mah.
Got people say "you is dead" meh?

So he is right to say "you, the moron cat, are dead"
Ha ha ha!
Index up only 4.2%, you panic so much for what?

Index is to make Moron Jump., end of the day money invested up more important. take care

[Unregistered]

Wah, what a stupid moron!

We all say, "You are dead" mah.
Got people say "you is dead" meh?

So he is right to say "you, the moron cat, are dead"
Ha ha ha!
Index up only 4.2%, you panic so much for what?
LOL SO POOR IN ENGLISH? GO OPEN WREN & MARTIN. TILL WHAT GRADE DID YOU STUDY ENGLISH?
"YOU ARE DEAD" BUT WHEN YOU QUALIFY IT WITH A QUESTION IN PRESENT TENSE "YOU THE MORON, IS DEAD?"

STUCKKKKKKKKKKK OHHHHHHHHHHHHHHH STUCKKKKKKKKKKK. SOMEBODY SAVE ME. HOW TO SELL WHEN PRICE DROPPING.

[Unregistered]

LOL SO POOR IN ENGLISH? GO OPEN WREN & MARTIN. TILL WHAT GRADE DID YOU STUDY ENGLISH?
"YOU ARE DEAD" BUT WHEN YOU QUALIFY IT WITH A QUESTION IN PRESENT TENSE "YOU THE MORON, IS DEAD?"

STUCKKKKKKKKKKK OHHHHHHHHHHHHHHH STUCKKKKKKKKKKK. SOMEBODY SAVE ME. HOW TO SELL WHEN PRICE DROPPING.
please dont complicate it. in singlish it is 'you the moron are dead' kikikikikiki.

[Unregistered]

LOL SO POOR IN ENGLISH? GO OPEN WREN & MARTIN. TILL WHAT GRADE DID YOU STUDY ENGLISH?
"YOU ARE DEAD" BUT WHEN YOU QUALIFY IT WITH A QUESTION IN PRESENT TENSE "YOU THE MORON, IS DEAD?"

STUCKKKKKKKKKKK OHHHHHHHHHHHHHHH STUCKKKKKKKKKKK. SOMEBODY SAVE ME. HOW TO SELL WHEN PRICE DROPPING.
"You is dead?"
Never heard of.

I only know "You are dead."
Only stupid fool like you use it.
And only stupid fool like you discuss English usage in a property forum.

In conclusion:
You (the moron cat) are dead.
You, the moron cat, are dead.

No question about it.

[Unregistered]

please dont complicate it. in singlish it is 'you the moron are dead' kikikikikiki.
'you the moron are dead?' kikikikikiki

[Unregistered]

LOL SUCH AMATEURS ON THIS FORUM.
CANT EVEN TELL THE DIFFERENCE BETWEEN SINGULAR AND PLURAL. HAS TO BE 'IS DEAD' NOT 'ARE DEAD'.
HAVE MORON CAT ALSO? I AM SURE YOU DISCOVERED IT TODAY WHEN YOU LOOKED IN THE MIRROR LOL.

ai ya, u 2 don't talk cocc. la. Let move on, price up or down??

[Unregistered]

"You is dead?"
Never heard of.

I only know "You are dead."
Only stupid fool like you use it.
And only stupid fool like you discuss English usage in a property forum.

In conclusion:
You (the moron cat) are dead.
You, the moron cat, are dead.

No question about it.
OH SO YOU DROPPED THE QUESTION MARK? SMART CAT.

[Unregistered]

OH SO YOU DROPPED THE QUESTION MARK? SMART CAT.
yes he is the smart cat who can do an about turn in a few minutes.

[Unregistered]

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Asian stocks surge as bank moves bring relief
Tom Miles
Reuters
Hong Kong SAR
Wednesday, 2 April 2008

Asian stocks jumped and bonds fell on Wednesday after a Lehman Brothers securities offering met strong demand, raising hopes that the worst of the credit crisis might be over.

A US$19 billion write-down by Swiss bank UBS AG reinforced the view that the banks were aggressively scrubbing their books clean of soured investments tied to the U.S. housing market.

The change of mood boosted the dollar, which in turned pushed oil back down towards US$100 a barrel The currency held on to its gains in early Asian trade.

"The market has become somewhat confident that banks can overcome this crisis," said Kosuke Hanao, head of currency sales at HSBC. "The dollar's rebound may continue for a month."

The euro was little changed from its level in late New York trade at $1.5600, in sight of Tuesday's one-week low around $1.5560 and well below a record high of $1.5905 hit last month.

The dollar was quoted at 101.80 yen, little changed here, too, after jumping around 2 yen on Tuesday.

Bank shares led stock markets higher, lifting Japan's benchmark Nikkei 3.3% by 0041 GMT and shares in the rest of Asia .MIAPJ0000PUS 1.5%.

Australia's S&P/ASX 200 was up 2.8% and South Korea's benchmark KOSPI 2.2%. Seoul financials such as Kookmin Bank and Woori Finance Holdings surged more than 5% and Australia's Macquarie Group rose more than 8%.

The share price jumps followed big gains in JPMorgan Chase & Co, Bank of America and Citigroup on Tuesday, which helped to drive both the Dow average and the S&P 500 up more than 3%.

U.S. technology stocks also had a strong start to the quarter. Nasdaq leapt more than 3%, helped by Microsoft, which rose 4% after saying it would not raise its takeover offer for Yahoo Inc..

But the buoyant sentiment in stocks drained enthusiasm for bonds. Japanese government bond futures followed U.S. Treasuries lower. June 10-year JGB futures 2JGBv1 dropped 0.30 point to 139.50 at the opening, before recovering to 139.72.

U.S. crude oil CLc1, which had settled down 60 cents on Tuesday at $100.98 a barrel after losing more than $4 on Monday, held steady in early Asian trade.

Gold regained some strength on a technical rebound after falling to a two-month low on Tuesday, when the rise in the dollar and the U.S. stock rally sparked selling in precious metals. Gold rose to $889.30/890.10 an ounce from $884.20/885.40 late in New York.
Moron cat, here is an article for you to check for English mistake. You have an hour to do it.

The rest of us are too busy digesting the latest URA figures and the global stocks rally.

[Unregistered]

U.S. Factory Orders Probably Fell for Second Month in February

By Bob Willis

April 2 (Bloomberg) -- Orders to U.S. factories probably fell for a second month in February as companies scaled back investment plans on concern the economy is in a recession, according to a survey of economists before a report today.

Bookings dropped 0.8 percent after a 2.5 percent decline in January, the median forecast in the Bloomberg News survey indicated. A separate report may show private payrolls fell in March by the most in more than five years.

Businesses are cutting back as the biggest housing slump in a generation and record energy prices constrain consumer spending. The figures indicate the Federal Reserve's efforts to loosen the credit squeeze by lowering the benchmark interest rate and pumping money into financial markets have yet to boost confidence the economy will strengthen.

``We're seeing an economy that is sluggish, that's being held back significantly by the housing contraction, the credit crunch and high energy costs,'' said David Resler, chief economist at Nomura Securities International Inc. in New York. ``It looks like there are some cuts going on in business investment.''

The Commerce Department's report is due at 10:00 a.m. in Washington. The median forecast was based on a survey of 66 economists. Estimates ranged from a decline of 2.5 percent to a 1 percent gain.

Separately, a private survey from ADP Employer Services due at 8:15 a.m. may show companies cut 45,000 workers from payrolls in March following a 23,000 drop the prior month, according to the survey median.
Job Losses

Businesses are stepping up firings as demand weakens and economists increase bets the economy is in its first recession since 2001. The economy probably lost jobs for a third consecutive month in March, economists forecast an April 4 report from the Labor Department to show.

Martin Feldstein, the Harvard University economics professor who heads the research group that determines when recessions begin, said last month that a downturn has already begun.


A survey by the Institute for Supply Management yesterday indicated factory bookings may keep dropping. The group's orders index last month fell to the lowest level since October 2001. Manufacturing contracted less than forecast as exports improved and employment shrank at a slower pace, the report showed.

Orders for durable goods, which comprise about half of factory orders, fell 1.7 percent in February, led by a record slump in demand for machinery, Commerce said last week.

Investment in new equipment and software will probably decline for the rest of this year after rising at a 1 percent annual pace from January though March, according to a forecast by economists at Lehman Brothers Holdings Inc.

Aircraft Demand

Factory bookings for transportation equipment probably rose in February as demand for commercial aircraft offset declines in auto orders. The dollar value of aircraft orders varies widely month to month because of the high cost of aircraft.

Chicago-based Boeing Co., the world's second-biggest airplane maker, said it received 125 aircraft orders in February, up from 65 in January.

General Motors Corp. and Ford Motor Co., the two biggest U.S.-based automakers, have announced production cutbacks as sales weaken. GM sold 19 percent fewer cars and light trucks last month compared with March 2007 and sales at Ford dropped 14 percent.

A strike at auto-parts supplier American Axle & Manufacturing Holdings Inc. is also contributing to the decline at vehicle makers. The walkout has closed or idled 30 plants at GM, affecting almost half of the automaker's workforce.

Production Drops

Government reports have already showed deterioration in manufacturing. Industrial production fell 0.5 percent in February, the biggest decline in more than two years, the Fed said March 17. Manufacturing, which makes up about four fifths of total output, fell 0.2 percent after no change the prior month.

In addition to gains in exports, lean inventories may prevent a deeper factory slump.

Companies in the fourth quarter reduced stockpiles at an $18.3 billion annual pace, the fastest drawdown since 2001, the Commerce Department reported last week. Overall growth slowed to a 0.6 percent annual rate from 4.9 percent in the previous three months.

Economic growth probably slowed to a 0.1 percent pace in the first three months of 2008, the smallest advance since the 2001 recession, according to the median forecast of economists surveyed last month

[Unregistered]

Firstly, you forgot the rental yield of approximately 5% p.a.This is assuming that the person pays for the property with his own money and doesn't take a loan from the bank, so that there is no mortgage interest.

Secondly, the quantum of investment in properties is much greater than investments in foreign currencies. You are usually using a bank loan for leverage when purchasing a property, but no bank will lend you money to place in Aussie dollars (I'll talk about margin trading accounts later).

Let's say you have SGD 250,000.

If you place in Aussie dollars to earn 8% p.a. or 24% for 3 years, the gain is $60,000 for three years.

If you use the same amount to place a 20% deposit for a condo in D11 or D15 three years ago, that would have earned you far superior returns. For example,

Newton Suites (District 11)

6 Jun 2005 #34-02 1,238 sf S$1,158,000 ($935 psf)

26 Feb 2008 #34-02 1,238 sf $2,352,200 (1,900 psf)

The person who has bought and sold this unit has made $1,194,200 in 2 years and 8 months.

Percentage wise that's 103% over 2 years 8 months, or 38.7% per year.

Twin Regency (District 4)

20 July 2004 #35-02 980 sf S$773,500 ($790 psf)

19 Nov 2007 #35-02 980 sf $1,400,000 (1,429 psf)

The person who has bought and sold this unit has made $626,500 in 3 years and 4 months.

Percentage wise that's 81% over 3 years 4 months, or 24.3% per year.

Of course, such percentage increases may not be sustainable in future.

What I want to point is that the quantum of investment is very high in property because it's a highly leveraged investment. Of course it can cut both ways, and the magnitude of loss can also be very high.

Of course for foreign currencies, you can also leverage using those margin trading accounts, but you must remember you are playing against the bank's top traders. Can you beat them in the game?

Think many folks in this forum do not have a grasp of Singapore property dynamics. You are the only one with some indepth knowledge and fel for the market. Even if property prices go down by 10-15%, the vast majority is still in very very good shape. Small fry/time developers and greedy speculators who over extended in the 2H 2007 maybe burnt but the rest are going to ride through quite comfortably. Use me as an example, I am sitting on 700K profit from my purchases made in Oct 2006, I am renting my apartment at 7-8% yield and just refinanced it.

[Unregistered]

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Dollar Holds Gains as Credit Worries Ease
Satomi Noguchi
Reuters
Tokyo, Japan
Wednesday, 2 April 2008

The dollar steadied against the euro and the Swiss franc on Wednesday, keeping sharp gains made the previous session on hopes that the latest rash of bank writedowns has marked the worst of the credit crisis.

Traders said worries about the fate of financial firms had eased somewhat after Lehman Brothers raised $4 billion to shore up its balance sheet, providing a boost to the dollar.

"The market has become somewhat confident that banks can overcome this crisis," said Kosuke Hanao, head of forex sales at HSBC.

"The dollar's rebound may continue for a month."

The euro was little changed from its level in late New York trade at $1.5600, in sight of Tuesday's one-week low around $1.5560 and well below a record high of $1.5905 hit last month.

The dollar steadied against the Swiss franc at 1.0120 francs after climbing to around 1.0140 francs the previous session, off an all-time low near 0.9600 francs struck in March.

The dollar edged down 0.2% to 101.60 yen. Traders said heavy selling from Japanese exporters capped the dollar's gains after jumping above 102 yen on Tuesday for the first time since early March. The U.S. currency had plunged to a 13-year low of 95.77 yen in March 17.

Investors had been nervous that other financial firms could go the way of Bear Stearns, which nearly collapsed last month amid a liquidity crisis.

But a $19 billion writedown by Swiss bank UBS reinforced the view that the banks were aggressively scrubbing their books clean of soured investments tied to the slumping U.S. housing market. UBS also said it would raise $15 billion in fresh capital through a rights issue of shares.

Still, some warned the U.S. currency may be in for renewed selling unless upcoming data begins to paint a sunnier picture of the U.S. economy.

On Tuesday, data from the U.S. Institute for Supply Management showed a continued contraction in the manufacturing sector while prices jumped to their highest since 2005. ID:nN01224839

If employment data due on Friday shows the U.S. economy shed jobs for a third straight month in March, analysts said the dollar could fall back towards record lows against the euro and the Swiss franc.

"There won't be any question about the dollar starting to fall again after the U.S. jobs data, especially when the market is swinging between extreme pessimism and optimism," said Kengo Suzuki, a currency strategist at Shinko Securities.

For clues about the jobs data, investors will look to a report on private sector employment from Automatic Data Processing (ADP) due later in the day.

The ADP report is expected to show that private sector employment shrank by 48,000 jobs in March.

Also on Wednesday, Federal Reserve Chairman Ben Bernanke is scheduled to testify on the economic outlook, though analysts expect it to offer few surprises.
Now I see. The credit worries are going away.
No wonder the global stocks markets are rallying.

[Unregistered]

Now I see. The credit worries are going away.
No wonder the global stocks markets are rallying.

OMG, I will be seeing another bunch of desperate buyers walking in and out of condos this weekend.

[Unregistered]

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Market adds to gains after factory data
Caroline Valetkevitch
Reuters
New York, New York, U.S.
Tuesday, 1 April 2008, 10:10AM U.S. EDT

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A logo of U.S. investment bank Lehman Brothers is seen outside its Asia headquarters in 1 April 2008 - Photo: Yuriko Nakao, Reuters

Stocks added to gains on Tuesday after stronger-than-expected data on U.S. factory activity eased some concerns about the economy.

The Dow Jones industrial average was up 223.26 points, or 1.82%, at 12,486.15. The Standard & Poor's 500 Index was up 23.52 points, or 1.78%, at 1,346.22. The Nasdaq Composite Index was up 43.10 points, or 1.89%, at 2,322.20.
What beautiful factory figures! Good!
No wonder there is a global stocks rally.

[Unregistered]

OMG, I will be seeing another bunch of desperate buyers walking in and out of condos this weekend.
Maybe they are flying to Manhatten too?

Otherwise, how come Manhatten average psf went up by 20.5% to US$1,289 psf?

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Manhattan Apartment Prices Rise
Ilaina Jonas
Reuters
New York, New York, U.S.
Wednesday, 2 April 2008, 12:41am U.S. EDT

Manhattan apartment prices soared in the first quarter, but sales fell and inventory rose under the weight of tighter mortgage terms and Wall Street job fears, according to several reports.

The median sales price rose 13.2% to a record $945,276 over the prior-year quarter, while the average sales price increased 33.5% to a record $1,722,991, according to the Prudential Douglas Elliman Manhattan Market Overview quarterly report released on Wednesday.

"The market is leaning much more to the higher end and part of that comes from what's gone on in the mortgage markets," said Greg Heym, senior vice president of research for Terra Holdings, parent company of real estate firms Brown Harris Stevens and Halstead Property.

"In the mid- to lower-price stuff you see fewer sales in these categories because those are the people affected by tighter standards," Heym said.

The Manhattan housing market has been insulated from the U.S. housing crisis that has sent the national median sales price of an existing home down 8.2% to $195,900. New home prices have fallen even further.

However, soaring mortgage defaults nationwide set off a broader credit crisis that could put more than 25,000 New York jobs in the financial sector - which drives the local real estate market -- at risk.

"When a market is on such solid footing as ours was, it cannot fall apart in a span of a couple of months. It's going to take longer than that. You're going to have to see more layoffs actually happening," Heym said. "Until people are forced to sell their apartment for whatever they can get for them, that's the missing ingredient in a downturn."

So far it hasn't.

The average price per square foot leaped 20.5% to a record US$1,289 psf, according to the Prudential report.

Halstead Property said the average price rose 47% over the first quarter 2007 to $1,690,995, driven by sales of apartment priced over $10 million.

"There were 84 sales in between 15 Central Park West and The Plaza and the effect that that has on all these number is tremendous," Heym said.

Some of the apartment sold during the quarter -- including those at 15 Central Park West and The Plaza -- reflect deals that had been agreed to in previous years.

The median sales price rose 13%, Halstead said. Although sales at ultra luxury projects 15 Central Park West and The Plaza skewed the results, prices still set records or near records even after removing those deals. Without the two projects the average price would have been $1,417,496, Halstead said.

Yet the pace of sales slowed and the number of homes on the market rose for the first time since the housing boom started about four years ago, Herman said.

"That's the story -- sales and inventory this quarter," said Jonathan Miller, author of the Prudential report.

The number of sales fell 1%, according to Halstead. It had about 600 more sales in its statistical pool than Prudential, which said the number fell 34.3% this quarter to 2,282 units. It was the largest drop since Miller began compiling the report in 1989.

"These numbers reflect what happen with the mortgage fiasco," and do not reflect the layoffs that have yet to happen, said Dottie Herman, Prudential CEO.

"People have no sense of urgency, and you're in a much more price sensitive time now," she said. "There's a lot of uncertainty."

The number of homes on the market rose 4.6% to 6,194 from last year, Prudential said. Homes for sale remained on the market for 146 days, two weeks longer than a year earlier, according to the Prudential report.

Wiggle room on prices remained about the same as last year, about a 3.2% discount from the asking price, according to the Prudential report.

"It's not a buyers' market yet, but the pendulum has switched to the buyers now," Corcoran Group Chief Executive Officer Pam Liebman said.

The Corcoran Group said the average price jumped 19% to $1.626 million, while the median rose 9% to $917,000. The price per square foot was up 16% to $1,224. Inventory of homes for sale was up 15% at the end of March.

[Unregistered]

ai ya, u 2 don't talk cocc. la. Let move on, price up or down??

stock rally even bad news around - additional write-downs in UBS and Deutsche Bank. price down? unlikely!
the bear market is likely reaching a bottom. wondering what happen if good news flooded in next? Get ready to move on!

[Unregistered]

OMG, I will be seeing another bunch of desperate buyers walking in and out of condos this weekend.

Really pity agents....

[Unregistered]

OMG, I will be seeing another bunch of desperate buyers walking in and out of condos this weekend.
OMG u dam funny, wat is these desperate buyers walking in and out of condos this weekend got to do wit u????

[Unregistered]

some skinny wicket property boom lashes singapore

[Unregistered]

OMG u dam funny, wat is these desperate buyers walking in and out of condos this weekend got to do wit u????

Credit woes going away ma, so all those deperado buyers now panicky that property prices will shoot up like no tomorrow ma. Price up or down is all about sentiment ma, especially silliporeans all don't use their dick head to think, all rely on hearsay.

[Unregistered]

Credit woes going away ma, so all those deperado buyers now panicky that property prices will shoot up like no tomorrow ma. Price up or down is all about sentiment ma, especially silliporeans all don't use their dick head to think, all rely on hearsay.
I think u r the only 1 tat is silly, u think like drama? go away means go away?
wat about inflation? job market? etc?. things dun go away overnight my fren,
let things stable 1st., den property market will move, but before it move, it has to come down 1st, by how much? nobody knows, nobodys get the bottom.so next time use ur head, not ur dick head to think before u talk.

[Unregistered]

I think u r the only 1 tat is silly, u think like drama? go away means go away?
wat about inflation? job market? etc?. things dun go away overnight my fren,
let things stable 1st., den property market will move, but before it move, it has to come down 1st, by how much? nobody knows, nobodys get the bottom.so next time use ur head, not ur dick head to think before u talk.
Why use your dick to write? Why must property market come down below its current level?

[Unregistered]

Why use your dick to write? Why must property market come down below its current level?
shallow Moron.

[CSR Police]

shallow Moron.
:****you: :asshole: :please-die:

[Unregistered]

Shanghai Composite China 3,330.227 ....... 1.065 (0.03%)
Hang Seng Hong Kong 24,018.01 ....... 880.55 (3.81%)
BSE 30 India 15,955.00 ....... 328.38 (2.10%)

Any idea why China crashing? Will soon pull down the rest.

[Unregistered]

Credit woes going away ma, so all those deperado buyers now panicky that property prices will shoot up like no tomorrow ma. Price up or down is all about sentiment ma, especially silliporeans all don't use their dick head to think, all rely on hearsay.
You are the silly one who act on hearsay without guaging the situation for yourself.

[Unregistered]

This Rally Is Temporary
Posted By:Tom Brennan

Cramer loves an arcane reference about as much as Dennis Miller. Even when he mentions a recognizable movie, book or Greek parable, the Mad Money host dives headlong into it. Such was the case during Tuesday’s show, when Cramer turned the most recent battle between the bulls and the bears into a modern-day Gettysburg.

Gen. Grant, the Confederacy, the Wilderness – you name some aspect of the Civil War and it made the segment. (Bull Run made the cut, too, for obvious reasons.) But for you, the loyal reader at home, we’re going to keep this as simple as possible.

A change in the “uptick” rule has freed bears – massive short-selling hedge funds, in this case – to drive stocks into the dirt for a hefty profit. Rumors of Lehman Brothers’ Lehman Brothers Holdings Inc illiquidity had these shorts hovering, smelling blood, but yesterday’s $4 billion offering sent them running. Cramer urged others in the cohort – Wachovia Wachovia Corp to follow Lehman’s lead. It's only a matter of time, he said, before the shorts focus on a new victim.

And herein lies Cramer’s point: Until the Securities and Exchange Commission reinstates the uptick rule, these bear raids will continue to happen, making 391-point days in the Dow short-lived.

So enjoy the rally while you can, people. If the SEC doesn’t step up soon, Cramer said, Appomattox won't be happening any time soon.

[Unregistered]

Shanghai Composite China 3,330.227 ....... 1.065 (0.03%)
Hang Seng Hong Kong 24,018.01 ....... 880.55 (3.81%)
BSE 30 India 15,955.00 ....... 328.38 (2.10%)

Any idea why China crashing? Will soon pull down the rest.
Since when did Shanghai pulled down the rest?
The rest continue to surge irregardless of Shanghai movement.

[Unregistered]

http://www.dowjones.com/DJCom/Images/LogoHome.gif
Dow Heading For 16,000, Richard Band Says Rolling Eyes
Mark Hulbert
Dow Jones
Anandale, Virginia, U.S.
Friday, 28 March 2008, 12:58 AM U.S. EST

Richard Band is not someone who makes outlandish predictions just to get headlines.

So I sat up and took notice earlier this week when he wrote to subscribers of his Profitable Investing newsletter that the stock market was ready to "rocket higher" in an "uptrend that could carry the blue chip indexes to all-time highs by late 2008 or early 2009. Dow 16,000 here we come!"

The Hulbert Financial Digest (HFD) has been tracking Band's newsletter since the beginning of 1991. Over the subsequent 17 years, his recommended portfolio has been 35% less volatile than the overall stock market, as measured by relative volatilities. To use a baseball analogy, this shows that Band is more inclined to try to get a base hit than he is to attempt to belt a home run.

Band's conservative approach is crucial to properly interpreting his newsletter's performance. According to the HFD, the newsletter's model portfolios on average have produced an 8.6% annualized return since the beginning of 1991, in contrast to 10.9% annualized for the Dow Jones Wilshire 5000 index (DWC). But with only two thirds as much risk, we should expect some below-market return.

It turns out that, upon risk-adjusting his newsletter's performance, it equals that of the market itself. That's good enough to place it in the upper echelon of newsletters over this period, and another reason to give weight to his forecast.

Technical factors appear to have led Band to make such a bold prediction, which amounts to a 33% return for the overall market over the next 12 months.

The first has to do with the stock market's internal characteristics when it hit a low earlier this month. Band argues that that low possessed "many striking technical resemblances to the great bear market bottoms of the past."

To be sure, Band wrote that on Tuesday night, and since then the Dow Jones Industrial Average (DJI) has dropped 230 points.

But Band says he is not particularly worried. On Thursday night, he told subscribers not to let "Mr. Market wear you out!"

Band continued: "We're in a critical stage for stocks right now, what technical analysts call the 'right shoulder' of a head-and-shoulders bottom. The left shoulder formed on March 10, when the Standard & Poor's 500 index (SPX) touched its closing low for the year (so far) at 1273.37. The upside-down head came on March 17, when the index broke to a new low intraday but finished at 1276.60, slightly above the March 10 close. Now we're sliding down again to complete the right shoulder of the pattern. If all goes well, the S&P should remain comfortably above the two previous closing lows. Then we can rocket higher in April."

Band adds that when the right shoulder of a head-and-shoulders bottom is forming, "the biggest temptation for investors is to throw up their hands and say, 'This market will never go up. It's doomed.' Don't make that mistake. A very powerful and durable rally is in the works. But it may need another couple of days to lift off. Hold the fort and keep the faith!"

Band is recommending several exchange-traded funds and one open-end mutual fund for subscribers who want to increase their equity exposure: The iShares Russell 1000 Growth Fund (IWF), the iShares MSCI Emerging Markets Index Fund (EEM), and Selected American Shares (SLASX).

Wow! This rally is a small one. A big one is coming. Get ready!

[Unregistered]

Property market may stay quiet for up to a year

Home prices, sales could remain weak as US sub-prime concerns linger

By Fiona Chan, Property Reporter


A MONTH ago, property consultants were predicting that the cooling market would pick up after June. That optimism has fast drained away.

Consultants now expect home prices and sales to remain weak for up to a year from now, after official estimates yesterday confirmed that price growth was tapering off.

'We can expect residential prices to continue weakening over the next 12 months', in the light of the United States sub-prime debacle and an expected US recession, said Jones Lang LaSalle (JLL).

Other consultancies, such as CB Richard Ellis Research, believe price growth will slow further in the second quarter, to '1 per cent or 2 per cent'.

Home sales are also plunging as buyers retreat - and they are expected to stay low as sellers dig in their heels to wait out the slowdown.

New home sales were likely to have dropped in the first quarter to one of the lowest levels ever, second only to those recorded during the Sars period.

In the secondary market, sales have fallen to 2005 levels, according to estimates from Savills Singapore.

Mid-tier private properties on the city fringe, such as in Novena, Toa Payoh, Marine Parade and Queenstown, are likely to be hardest hit by falling buyer demand.

These areas saw the biggest slowdown in price growth in the first 10 weeks of the year, suggesting that prices in these regions may be peaking, said JLL.

Buyers in these areas have shallower pockets and are more sensitive to market sentiment, it added.

In the HDB segment, prices have stabilised at about $50,000 cash over valuation or less, said Mr Eugene Lim, assistant vice-president at ERA Realty Network.

'Resale flats priced higher than that take much longer to sell or may not sell at all.'

Phillip Securities Research, meanwhile, aired concerns over the 'huge supply' of homes due to be completed in the next two years.

Supply is 'expected to exceed the demand from buyers and result in a slide in local property prices from 2010', it said.

HDB plans to release another 5,000 new build-to-order flats in the next six months. There are also 64,900 private homes in the pipeline, of which 90 per cent will be completed by 2011, while 60 per cent have yet to be sold.

Most experts believe, however, that confidence and demand will return by year-end - as long as the Singapore economy stays robust.

'Sellers now take a while to sell their homes, but there are still buyers,' said Mr Eric Cheng, the executive director of HSR property group.

'Last year, it took maybe a month to sell a home. Now, it takes two months. But in 2000 or 2002, it took a year,' he said.

[Unregistered]

Property market may stay quiet for up to a year

Home prices, sales could remain weak as US sub-prime concerns linger

By Fiona Chan, Property Reporter


A MONTH ago, property consultants were predicting that the cooling market would pick up after June. That optimism has fast drained away.

Consultants now expect home prices and sales to remain weak for up to a year from now, after official estimates yesterday confirmed that price growth was tapering off.

'We can expect residential prices to continue weakening over the next 12 months', in the light of the United States sub-prime debacle and an expected US recession, said Jones Lang LaSalle (JLL).

Other consultancies, such as CB Richard Ellis Research, believe price growth will slow further in the second quarter, to '1 per cent or 2 per cent'.

Home sales are also plunging as buyers retreat - and they are expected to stay low as sellers dig in their heels to wait out the slowdown.

New home sales were likely to have dropped in the first quarter to one of the lowest levels ever, second only to those recorded during the Sars period.

In the secondary market, sales have fallen to 2005 levels, according to estimates from Savills Singapore.

Mid-tier private properties on the city fringe, such as in Novena, Toa Payoh, Marine Parade and Queenstown, are likely to be hardest hit by falling buyer demand.

These areas saw the biggest slowdown in price growth in the first 10 weeks of the year, suggesting that prices in these regions may be peaking, said JLL.

Buyers in these areas have shallower pockets and are more sensitive to market sentiment, it added.

In the HDB segment, prices have stabilised at about $50,000 cash over valuation or less, said Mr Eugene Lim, assistant vice-president at ERA Realty Network.

'Resale flats priced higher than that take much longer to sell or may not sell at all.'

Phillip Securities Research, meanwhile, aired concerns over the 'huge supply' of homes due to be completed in the next two years.

Supply is 'expected to exceed the demand from buyers and result in a slide in local property prices from 2010', it said.

HDB plans to release another 5,000 new build-to-order flats in the next six months. There are also 64,900 private homes in the pipeline, of which 90 per cent will be completed by 2011, while 60 per cent have yet to be sold.

Most experts believe, however, that confidence and demand will return by year-end - as long as the Singapore economy stays robust.

'Sellers now take a while to sell their homes, but there are still buyers,' said Mr Eric Cheng, the executive director of HSR property group.

'Last year, it took maybe a month to sell a home. Now, it takes two months. But in 2000 or 2002, it took a year,' he said.

OH MY GOD SECONDARY MARKET SALES BACK TO 2005 LEVELS. THIS IS ASTONISHING. SPECKYS GETTING FRIED.

[Unregistered]

OH MY GOD SECONDARY MARKET SALES BACK TO 2005 LEVELS. THIS IS ASTONISHING. SPECKYS GETTING FRIED.
You thought it was going back because of the US sub-prime concern but things have since changed.

Now that the US sub-prime concern is going away, the secondary market sales will continue to move up.
The US sub-prime problem is there but the concern is going away.

If the concern remain, perhaps the secondary market sales may go back to 2005 level. Now that it is going away, it will continue to move up.

http://www.ap.org/media/images/logo.gif
Bank news and economic data boosts stocks to a big rally
Joe Bel Bruno
Business Writer
Associated Press
New York, New York, U.S.
Tuesday, 1 April 2008, 7:31PM U.S. EDT

http://d.yimg.com/us.yimg.com/p/nm/20080402/2008_04_01t160317_450x297_us_markets_stocks.jpg
Traders work on the floor of the New York Stock Exchange April 1, 2008. U.S. stocks extended gains on Tuesday, lifting the benchmarks S&P 500 and the NASDAQ up more than 3% as Lehman Brothers Holdings Inc.'s move to bolster its balance sheet calmed worries about the financial sector's stability. - Photo: Brendan McDermid, AP

Wall Street began the second quarter with a big rally Tuesday as investors rushed back into stocks, optimistic that the worst of the credit crisis has passed and that the economy is faring better than expected. The Dow Jones industrials surged nearly 400 points, and all the major indexes were up more than 3%.

Financial stocks were among the big winners after Lehman Brothers Holdings Inc. and Switzerland's UBS AG issued new shares to help bolster their balance sheets. With that upbeat news and a fresh quarter ahead of them, investors appear quite willing to make some bets that the worst of the damage from the nation's credit struggles has been felt. Moreover, the banks' moves buttressed the view that financial services companies are taking aggressive action to improve their capital bases and stave off the potential of a collapse similar to Bear Stearns Cos.

Analysts believe there must be a recovery in bank and brokerages to lead major stock indexes higher. Some of the biggest financial players had their sharpest moves of the year Tuesday — Citigroup Inc. shot up 11%, JPMorgan Chase & Co. rose 9%, and Lehman surged 18%.

"Investors have a difficult time making decisions about the stock market if they don't have confidence in major financial institutions, so there's been a lot of sideline cash," said Richard Cripps, chief market strategist for Stifel Nicolaus. "The extreme conditions that we've seen here over the past few months has been missing that confidence ... but that appears to be changing, and we're seeing the response."

Meanwhile, Wall Street got another boost when the Institute for Supply Management said its March index of national manufacturing activity rose to a reading of 48.6 — indicating a contraction, but a slower one than in February and tamer than many analysts had predicted. Government data on construction spending for February also came in better than expected.

The Dow rose 391.47, or 3.19 percent, to 12,654.36. It marked the eighth-biggest point gain ever for the Dow, and the third time in two weeks it came close to or surpassed 400 points.

Broader stock indicators also gained sharply. The Standard & Poor's 500 index rose 47.48, or 3.59%, to 1,370.18 — the index's best start to a second quarter since 1938. And, the Nasdaq composite index rose 83.65, or 3.67%, to 2,362.75.

The advance was in contrast to a lackluster session on Monday, where stocks managed a moderate gain in the final session of a dismal first quarter. Major indexes ended the first three months of 2008 with massive losses, marking the worst period since the third quarter of 2002 when Wall Street was approaching the lowest point of a protracted bear market.

Renewed enthusiasm that the credit crisis might be waning was also felt in the Treasury market, where government securities fell as investors withdrew money to take bets on stocks. The 10-year Treasury note's yield, which moves opposite its price, rose to 3.55% from 3.43% late Monday. The yield edged up to 3.56% in after-hours trading.

In addition to hopes about the financial sector, Wall Street was relieved to see the feeble dollar regain some strength against the euro. The euro fell to $1.5596 from $1.5785 late Monday in New York.

And there was also optimism that commodities prices, which have hit historic highs in recent months, have begun to retreat. Crude fell 60 cents to settle at $100.98 on the New York Mercantile Exchange after earlier falling below $100. Meanwhile, gold dropped back below $900 an ounce.

"This is a nice way to begin the second quarter," said Todd Leone, managing director of equity trading at Cowen & Co. "All the financials are up big, and there's a sense that things are turning. We definitely have not seen the last of the credit crisis, but we're getting closer."

The stock rally was underpinned by the announcements from UBS and Lehman Brothers that they are boosting capital by issuing new stock. Shares of banks and brokerages hovered near multiyear lows in recent months as investors feared heavy losses from investments tied to subprime mortgages would be overwhelming.

Earlier this month, widespread concerns about Bear Stearns' financial position forced the investment bank to sell itself to JPMorgan in a deal engineered by the Federal Reserve — and that stoked fears that other investment houses might follow.

JPMorgan rose $4.05, or 9.4%, to $47; while Bear Stearns was up 36 cents, or 3.4%, to $10.85 — slightly above the $10 per share acquisition price.

UBS, one of Europe's biggest banks, said it will issue up to $15 billion in new stock and that its chairman, Marcel Ospel, had quit. Investors chose to look past the bank's announcement that it will take a fresh $19 billion write-down due to additional declines in the value of its mortgage assets and other credit instruments, following an $18 billion write-down last year. Its shares surged $4.21, or 14.6%, to $33.01 in trading on the New York Stock Exchange.

Lehman Brothers, dogged by speculation it might reveal losses big enough to cripple the company, on Tuesday raised $4 billion of capital to stymie questions about its financial stability. Lehman rose $6.70, or 17.8%, to $44.34.

The Russell 2000 index of smaller companies rose 22.68, or 3.30%, to 710.65.

Advancing issues outnumbered decliners by about 4 to 1 on the New York Stock Exchange, where consolidated volume came to a heavy 4.65 billion shares, compared to 4.02 billion on Monday.

In overseas trade, Tokyo's Nikkei closed up 1.04%. There were gains in Europe too, with London's FTSE rising 2.64%, Frankfurt's DAX gaining 2.84% and Paris' CAC 40 advancing 3.38%.

[Unregistered]

OH MY GOD SECONDARY MARKET SALES BACK TO 2005 LEVELS. THIS IS ASTONISHING. SPECKYS GETTING FRIED.


sales lah, not price!
low volume, price increases....to last for 1 year, not bad!
1 year later, price already up another 20% if continues this way.
Hold on to your property, rent out for high yield.

[Unregistered]

Property market may stay quiet for up to a year

Home prices, sales could remain weak as US sub-prime concerns linger

By Fiona Chan, Property Reporter


A MONTH ago, property consultants were predicting that the cooling market would pick up after June. That optimism has fast drained away.

Consultants now expect home prices and sales to remain weak for up to a year from now, after official estimates yesterday confirmed that price growth was tapering off.

'We can expect residential prices to continue weakening over the next 12 months', in the light of the United States sub-prime debacle and an expected US recession, said Jones Lang LaSalle (JLL).

Other consultancies, such as CB Richard Ellis Research, believe price growth will slow further in the second quarter, to '1 per cent or 2 per cent'.

Home sales are also plunging as buyers retreat - and they are expected to stay low as sellers dig in their heels to wait out the slowdown.

New home sales were likely to have dropped in the first quarter to one of the lowest levels ever, second only to those recorded during the Sars period.

In the secondary market, sales have fallen to 2005 levels, according to estimates from Savills Singapore.

Mid-tier private properties on the city fringe, such as in Novena, Toa Payoh, Marine Parade and Queenstown, are likely to be hardest hit by falling buyer demand.

These areas saw the biggest slowdown in price growth in the first 10 weeks of the year, suggesting that prices in these regions may be peaking, said JLL.

Buyers in these areas have shallower pockets and are more sensitive to market sentiment, it added.

In the HDB segment, prices have stabilised at about $50,000 cash over valuation or less, said Mr Eugene Lim, assistant vice-president at ERA Realty Network.

'Resale flats priced higher than that take much longer to sell or may not sell at all.'

Phillip Securities Research, meanwhile, aired concerns over the 'huge supply' of homes due to be completed in the next two years.

Supply is 'expected to exceed the demand from buyers and result in a slide in local property prices from 2010', it said.

HDB plans to release another 5,000 new build-to-order flats in the next six months. There are also 64,900 private homes in the pipeline, of which 90 per cent will be completed by 2011, while 60 per cent have yet to be sold.

Most experts believe, however, that confidence and demand will return by year-end - as long as the Singapore economy stays robust.

'Sellers now take a while to sell their homes, but there are still buyers,' said Mr Eric Cheng, the executive director of HSR property group.

'Last year, it took maybe a month to sell a home. Now, it takes two months. But in 2000 or 2002, it took a year,' he said.

pretty dangerous for those holding and speculating. better to sell and make some profit before everything vapourises. i am off calling my agent to dump the last few units......

[Unregistered]

pretty dangerous for those holding and speculating. better to sell and make some profit before everything vapourises. i am off calling my agent to dump the last few units......
Dump the last few units of outdoor tents?

We know you are poor and couldn't afford to buy condo. That's why you are very jealous of the condo owners. We didn't know you have no house to stay and live in tent.

Don't waste time here. Go work harder so that you can buy a house.

[Unregistered]

You thought it was going back because of the US sub-prime concern but things have since changed.

Now that the US sub-prime concern is going away, the secondary market sales will continue to move up.
The US sub-prime problem is there but the concern is going away.

If the concern remain, perhaps the secondary market sales may go back to 2005 level. Now that it is going away, it will continue to move up.

http://www.ap.org/media/images/logo.gif
Bank news and economic data boosts stocks to a big rally
Joe Bel Bruno
Business Writer
Associated Press
New York, New York, U.S.
Tuesday, 1 April 2008, 7:31PM U.S. EDT

http://d.yimg.com/us.yimg.com/p/nm/20080402/2008_04_01t160317_450x297_us_markets_stocks.jpg
Traders work on the floor of the New York Stock Exchange April 1, 2008. U.S. stocks extended gains on Tuesday, lifting the benchmarks S&P 500 and the NASDAQ up more than 3% as Lehman Brothers Holdings Inc.'s move to bolster its balance sheet calmed worries about the financial sector's stability. - Photo: Brendan McDermid, AP

Wall Street began the second quarter with a big rally Tuesday as investors rushed back into stocks, optimistic that the worst of the credit crisis has passed and that the economy is faring better than expected. The Dow Jones industrials surged nearly 400 points, and all the major indexes were up more than 3%.

Financial stocks were among the big winners after Lehman Brothers Holdings Inc. and Switzerland's UBS AG issued new shares to help bolster their balance sheets. With that upbeat news and a fresh quarter ahead of them, investors appear quite willing to make some bets that the worst of the damage from the nation's credit struggles has been felt. Moreover, the banks' moves buttressed the view that financial services companies are taking aggressive action to improve their capital bases and stave off the potential of a collapse similar to Bear Stearns Cos.

Analysts believe there must be a recovery in bank and brokerages to lead major stock indexes higher. Some of the biggest financial players had their sharpest moves of the year Tuesday — Citigroup Inc. shot up 11%, JPMorgan Chase & Co. rose 9%, and Lehman surged 18%.

"Investors have a difficult time making decisions about the stock market if they don't have confidence in major financial institutions, so there's been a lot of sideline cash," said Richard Cripps, chief market strategist for Stifel Nicolaus. "The extreme conditions that we've seen here over the past few months has been missing that confidence ... but that appears to be changing, and we're seeing the response."

Meanwhile, Wall Street got another boost when the Institute for Supply Management said its March index of national manufacturing activity rose to a reading of 48.6 — indicating a contraction, but a slower one than in February and tamer than many analysts had predicted. Government data on construction spending for February also came in better than expected.

The Dow rose 391.47, or 3.19 percent, to 12,654.36. It marked the eighth-biggest point gain ever for the Dow, and the third time in two weeks it came close to or surpassed 400 points.

Broader stock indicators also gained sharply. The Standard & Poor's 500 index rose 47.48, or 3.59%, to 1,370.18 — the index's best start to a second quarter since 1938. And, the Nasdaq composite index rose 83.65, or 3.67%, to 2,362.75.

The advance was in contrast to a lackluster session on Monday, where stocks managed a moderate gain in the final session of a dismal first quarter. Major indexes ended the first three months of 2008 with massive losses, marking the worst period since the third quarter of 2002 when Wall Street was approaching the lowest point of a protracted bear market.

Renewed enthusiasm that the credit crisis might be waning was also felt in the Treasury market, where government securities fell as investors withdrew money to take bets on stocks. The 10-year Treasury note's yield, which moves opposite its price, rose to 3.55% from 3.43% late Monday. The yield edged up to 3.56% in after-hours trading.

In addition to hopes about the financial sector, Wall Street was relieved to see the feeble dollar regain some strength against the euro. The euro fell to $1.5596 from $1.5785 late Monday in New York.

And there was also optimism that commodities prices, which have hit historic highs in recent months, have begun to retreat. Crude fell 60 cents to settle at $100.98 on the New York Mercantile Exchange after earlier falling below $100. Meanwhile, gold dropped back below $900 an ounce.

"This is a nice way to begin the second quarter," said Todd Leone, managing director of equity trading at Cowen & Co. "All the financials are up big, and there's a sense that things are turning. We definitely have not seen the last of the credit crisis, but we're getting closer."

The stock rally was underpinned by the announcements from UBS and Lehman Brothers that they are boosting capital by issuing new stock. Shares of banks and brokerages hovered near multiyear lows in recent months as investors feared heavy losses from investments tied to subprime mortgages would be overwhelming.

Earlier this month, widespread concerns about Bear Stearns' financial position forced the investment bank to sell itself to JPMorgan in a deal engineered by the Federal Reserve — and that stoked fears that other investment houses might follow.

JPMorgan rose $4.05, or 9.4%, to $47; while Bear Stearns was up 36 cents, or 3.4%, to $10.85 — slightly above the $10 per share acquisition price.

UBS, one of Europe's biggest banks, said it will issue up to $15 billion in new stock and that its chairman, Marcel Ospel, had quit. Investors chose to look past the bank's announcement that it will take a fresh $19 billion write-down due to additional declines in the value of its mortgage assets and other credit instruments, following an $18 billion write-down last year. Its shares surged $4.21, or 14.6%, to $33.01 in trading on the New York Stock Exchange.

Lehman Brothers, dogged by speculation it might reveal losses big enough to cripple the company, on Tuesday raised $4 billion of capital to stymie questions about its financial stability. Lehman rose $6.70, or 17.8%, to $44.34.

The Russell 2000 index of smaller companies rose 22.68, or 3.30%, to 710.65.

Advancing issues outnumbered decliners by about 4 to 1 on the New York Stock Exchange, where consolidated volume came to a heavy 4.65 billion shares, compared to 4.02 billion on Monday.

In overseas trade, Tokyo's Nikkei closed up 1.04%. There were gains in Europe too, with London's FTSE rising 2.64%, Frankfurt's DAX gaining 2.84% and Paris' CAC 40 advancing 3.38%.
Anyway, even if the US sub-prime concern come back, which is unlikely, it is the secondary sales volume that may drop. The price index will continue to go up.

[Unregistered]

ARDMORE II highest transacstion was about $3000-$3500 psf last year.

Now see newspaper and there are a number of agents selling at discount $2500-$2600 yet unsold after 1-2months of advertising.

Why?
You explain lah.

If you are sure it will increase you buy lah.

$3500-$2500=$1000 difference leh

How many % you calculate yourself lah.

[Unregistered]

The last two times property went up in Singapore this fast, it came down equally fast and to the same low levels.

I would not be surprised to see panic sellers in the market trying to sell their units before all the new condo units (30K+) come out of the pipeline.

Crash has happened before, it can happen again, the situation is very similar.

[Unregistered]

ARDMORE II highest transacstion was about $3000-$3500 psf last year.

Now see newspaper and there are a number of agents selling at discount $2500-$2600 yet unsold after 1-2months of advertising.

Why?
You explain lah.

If you are sure it will increase you buy lah.

$3500-$2500=$1000 difference leh

How many % you calculate yourself lah.
Why different units?
You explain lah.

[Unregistered]

Why different units?
You explain lah.

Checked already $2600 neg mid floor. Buy lah. Cheap you know and still nego somemore. considering higest transaction of 3500psf top floor and given $2600psf on mid floor. Thats still a big difference.

[Unregistered]

Checked already $2600 neg mid floor. Buy lah. Cheap you know and still nego somemore. considering higest transaction of 3500psf top floor and given $2600psf on mid floor. Thats still a big difference.
Oh my God even with huge discounts can't sell.

[Unregistered]

Checked already $2600 neg mid floor. Buy lah. Cheap you know and still nego somemore. considering higest transaction of 3500psf top floor and given $2600psf on mid floor. Thats still a big difference.
Thanks for the explanation on the price difference.

[Unregistered]

Property market may stay quiet for up to a year

Home prices, sales could remain weak as US sub-prime concerns linger

By Fiona Chan, Property Reporter


A MONTH ago, property consultants were predicting that the cooling market would pick up after June. That optimism has fast drained away.

Consultants now expect home prices and sales to remain weak for up to a year from now, after official estimates yesterday confirmed that price growth was tapering off.

'We can expect residential prices to continue weakening over the next 12 months', in the light of the United States sub-prime debacle and an expected US recession, said Jones Lang LaSalle (JLL).

Other consultancies, such as CB Richard Ellis Research, believe price growth will slow further in the second quarter, to '1 per cent or 2 per cent'.

Home sales are also plunging as buyers retreat - and they are expected to stay low as sellers dig in their heels to wait out the slowdown.

New home sales were likely to have dropped in the first quarter to one of the lowest levels ever, second only to those recorded during the Sars period.

In the secondary market, sales have fallen to 2005 levels, according to estimates from Savills Singapore.

Mid-tier private properties on the city fringe, such as in Novena, Toa Payoh, Marine Parade and Queenstown, are likely to be hardest hit by falling buyer demand.

These areas saw the biggest slowdown in price growth in the first 10 weeks of the year, suggesting that prices in these regions may be peaking, said JLL.

Buyers in these areas have shallower pockets and are more sensitive to market sentiment, it added.

In the HDB segment, prices have stabilised at about $50,000 cash over valuation or less, said Mr Eugene Lim, assistant vice-president at ERA Realty Network.

'Resale flats priced higher than that take much longer to sell or may not sell at all.'

Phillip Securities Research, meanwhile, aired concerns over the 'huge supply' of homes due to be completed in the next two years.

Supply is 'expected to exceed the demand from buyers and result in a slide in local property prices from 2010', it said.

HDB plans to release another 5,000 new build-to-order flats in the next six months. There are also 64,900 private homes in the pipeline, of which 90 per cent will be completed by 2011, while 60 per cent have yet to be sold.

Most experts believe, however, that confidence and demand will return by year-end - as long as the Singapore economy stays robust.

'Sellers now take a while to sell their homes, but there are still buyers,' said Mr Eric Cheng, the executive director of HSR property group.

'Last year, it took maybe a month to sell a home. Now, it takes two months. But in 2000 or 2002, it took a year,' he said.

Oh now still can sell in two months lah...not to worry.

[Unregistered]

The last two times property went up in Singapore this fast, it came down equally fast and to the same low levels.

I would not be surprised to see panic sellers in the market trying to sell their units before all the new condo units (30K+) come out of the pipeline.

Crash has happened before, it can happen again, the situation is very similar.

It may happen. I just spoken to one banker at posb and he said at the end of the year there are a number of speculators selling most of their units. Hmm, Supply exceeds deman liao.

[Unregistered]

Thanks for the explanation on the price difference.
You believe him? Not more than 300psf difference it should be. You dont have to be a rocket scientist to know the reason for the huge difference.

[Unregistered]

You believe him? Not more than 300psf difference it should be. You dont have to be a rocket scientist to know the reason for the huge difference.
That he bullshitted us?

[Unregistered]

The last two times property went up in Singapore this fast, it came down equally fast and to the same low levels.

I would not be surprised to see panic sellers in the market trying to sell their units before all the new condo units (30K+) come out of the pipeline.

Crash has happened before, it can happen again, the situation is very similar.

I suggest that you sell your house (if you have any) now and buy back later since you are so confident that price is going to come down.
I'm most welcome you to be my tenant to pay my low interest motgage.

[blackjack21trader]

I can't help from your discussions here that you are all property traders. Many are talking about short term gains and losses. Please note that as traders like me, you will be taxed heavily on your transactions.

[Unregistered]

in 2009 and 2010 a lot of development will be toped. I mean many many you know. It will then we see a lot of units dont have thier light on at night due to over supply.
Not only that, condo in prime district must pay about $900 monthly fee and have to pay tax some more. It was then many speculator realise it is a big expense if the unit is unrented.

[Unregistered]

It may happen. I just spoken to one banker at posb and he said at the end of the year there are a number of speculators selling most of their units. Hmm, Supply exceeds deman liao.
POSB Banker timid banker la, no points talking to him

[Unregistered]

Property market may stay quiet for up to a year

Home prices, sales could remain weak as US sub-prime concerns linger

By Fiona Chan, Property Reporter

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

'Last year, it took maybe a month to sell a home. Now, it takes two months. But in 2000 or 2002, it took a year,' he said.

Oh now still can sell in two months lah...not to worry.
Yes, you are right. No need to worry now.
Things have changed.

If the US sub-prime concern stays, the market may (but not necessary) stay quiet for up to a year.
Now that the US sub-prime concern is going away, the market will not stay quiet at all.
The US sub-prime problem is still here, but the US sub-prime concern is going away.

With the US sub-prime concern going away, you don't have to worry any more.

http://www.ap.org/media/images/logo.gif
Bank news and economic data boosts stocks to a big rally
Joe Bel Bruno
Business Writer
Associated Press
New York, New York, U.S.
Tuesday, 1 April 2008, 7:31PM U.S. EDT

http://d.yimg.com/us.yimg.com/p/nm/20080402/2008_04_01t160317_450x297_us_markets_stocks.jpg
Traders work on the floor of the New York Stock Exchange April 1, 2008. U.S. stocks extended gains on Tuesday, lifting the benchmarks S&P 500 and the NASDAQ up more than 3% as Lehman Brothers Holdings Inc.'s move to bolster its balance sheet calmed worries about the financial sector's stability. - Photo: Brendan McDermid, AP

Wall Street began the second quarter with a big rally Tuesday as investors rushed back into stocks, optimistic that the worst of the credit crisis has passed and that the economy is faring better than expected. The Dow Jones industrials surged nearly 400 points, and all the major indexes were up more than 3%.

Financial stocks were among the big winners after Lehman Brothers Holdings Inc. and Switzerland's UBS AG issued new shares to help bolster their balance sheets. With that upbeat news and a fresh quarter ahead of them, investors appear quite willing to make some bets that the worst of the damage from the nation's credit struggles has been felt. Moreover, the banks' moves buttressed the view that financial services companies are taking aggressive action to improve their capital bases and stave off the potential of a collapse similar to Bear Stearns Cos.

Analysts believe there must be a recovery in bank and brokerages to lead major stock indexes higher. Some of the biggest financial players had their sharpest moves of the year Tuesday — Citigroup Inc. shot up 11%, JPMorgan Chase & Co. rose 9%, and Lehman surged 18%.

"Investors have a difficult time making decisions about the stock market if they don't have confidence in major financial institutions, so there's been a lot of sideline cash," said Richard Cripps, chief market strategist for Stifel Nicolaus. "The extreme conditions that we've seen here over the past few months has been missing that confidence ... but that appears to be changing, and we're seeing the response."

Meanwhile, Wall Street got another boost when the Institute for Supply Management said its March index of national manufacturing activity rose to a reading of 48.6 — indicating a contraction, but a slower one than in February and tamer than many analysts had predicted. Government data on construction spending for February also came in better than expected.

The Dow rose 391.47, or 3.19 percent, to 12,654.36. It marked the eighth-biggest point gain ever for the Dow, and the third time in two weeks it came close to or surpassed 400 points.

Broader stock indicators also gained sharply. The Standard & Poor's 500 index rose 47.48, or 3.59%, to 1,370.18 — the index's best start to a second quarter since 1938. And, the Nasdaq composite index rose 83.65, or 3.67%, to 2,362.75.

The advance was in contrast to a lackluster session on Monday, where stocks managed a moderate gain in the final session of a dismal first quarter. Major indexes ended the first three months of 2008 with massive losses, marking the worst period since the third quarter of 2002 when Wall Street was approaching the lowest point of a protracted bear market.

Renewed enthusiasm that the credit crisis might be waning was also felt in the Treasury market, where government securities fell as investors withdrew money to take bets on stocks. The 10-year Treasury note's yield, which moves opposite its price, rose to 3.55% from 3.43% late Monday. The yield edged up to 3.56% in after-hours trading.

In addition to hopes about the financial sector, Wall Street was relieved to see the feeble dollar regain some strength against the euro. The euro fell to $1.5596 from $1.5785 late Monday in New York.

And there was also optimism that commodities prices, which have hit historic highs in recent months, have begun to retreat. Crude fell 60 cents to settle at $100.98 on the New York Mercantile Exchange after earlier falling below $100. Meanwhile, gold dropped back below $900 an ounce.

"This is a nice way to begin the second quarter," said Todd Leone, managing director of equity trading at Cowen & Co. "All the financials are up big, and there's a sense that things are turning. We definitely have not seen the last of the credit crisis, but we're getting closer."

The stock rally was underpinned by the announcements from UBS and Lehman Brothers that they are boosting capital by issuing new stock. Shares of banks and brokerages hovered near multiyear lows in recent months as investors feared heavy losses from investments tied to subprime mortgages would be overwhelming.

Earlier this month, widespread concerns about Bear Stearns' financial position forced the investment bank to sell itself to JPMorgan in a deal engineered by the Federal Reserve — and that stoked fears that other investment houses might follow.

JPMorgan rose $4.05, or 9.4%, to $47; while Bear Stearns was up 36 cents, or 3.4%, to $10.85 — slightly above the $10 per share acquisition price.

UBS, one of Europe's biggest banks, said it will issue up to $15 billion in new stock and that its chairman, Marcel Ospel, had quit. Investors chose to look past the bank's announcement that it will take a fresh $19 billion write-down due to additional declines in the value of its mortgage assets and other credit instruments, following an $18 billion write-down last year. Its shares surged $4.21, or 14.6%, to $33.01 in trading on the New York Stock Exchange.

Lehman Brothers, dogged by speculation it might reveal losses big enough to cripple the company, on Tuesday raised $4 billion of capital to stymie questions about its financial stability. Lehman rose $6.70, or 17.8%, to $44.34.

The Russell 2000 index of smaller companies rose 22.68, or 3.30%, to 710.65.

Advancing issues outnumbered decliners by about 4 to 1 on the New York Stock Exchange, where consolidated volume came to a heavy 4.65 billion shares, compared to 4.02 billion on Monday.

In overseas trade, Tokyo's Nikkei closed up 1.04%. There were gains in Europe too, with London's FTSE rising 2.64%, Frankfurt's DAX gaining 2.84% and Paris' CAC 40 advancing 3.38%.

[Unregistered]

I suggest that you sell your house (if you have any) now and buy back later since you are so confident that price is going to come down.
I'm most welcome you to be my tenant to pay my low interest motgage.

U think he du want to sell? no buyer la. or y not u buy his house? u mortgage interest low wat.

[Unregistered]

in 2009 and 2010 a lot of development will be toped. I mean many many you know. It will then we see a lot of units dont have thier light on at night due to over supply.
Not only that, condo in prime district must pay about $900 monthly fee and have to pay tax some more. It was then many speculator realise it is a big expense if the unit is unrented.
Many foreigners are coming in.

[Unregistered]

Many foreigners are coming in.
Foreigner come stay your house. you think they come buy house? they not stupid.

[Unregistered]

That he bullshitted us?
That is what he is doing since August when the stock market started crashing and property sales stalled.

[Unregistered]

Foreigner come stay your house. you think they come buy house? they not stupid.

LOL they will come and watch formula 1 at night then the next day they go home liao.

[Unregistered]

Yes, you are right. No need to worry now.
Things have changed.

If the US sub-prime concern stays, the market may (but not necessary) stay quiet for up to a year.
Now that the US sub-prime concern is going away, the market will not stay quiet at all.
The US sub-prime problem is still here, but the US sub-prime concern is going away.

With the US sub-prime concern going away, you don't have to worry any more.
I am worried lah. No buyer coming although I dropped price. Just see see no buy one. Scared now if I get stuck like last time. Better to drop pants and have underwear still rather than lose everything.

[Unregistered]

in 2009 and 2010 a lot of development will be toped. I mean many many you know. It will then we see a lot of units dont have thier light on at night due to over supply.
Not only that, condo in prime district must pay about $900 monthly fee and have to pay tax some more. It was then many speculator realise it is a big expense if the unit is unrented.

Wow! You very imaginative.

You can even "imagine" that "a lot of units dont have thier light on at night due to over supply."

Those that are TOP in 2009 and early 2010 were bought in 2006 and early 2007, when the price was still very low.

So thank you very much for your concerns, the bank loans are very low and interest repayment can be taken care of easily.

It is those condos bought in the later half of 2007 that need to worry. Those TOP coming in later half of 2010 and later, maybe the speculators need to worry, that is provided the sub-prime problem drags until then.

So thank you very much for your concerns, I have said many times that all the sour grapes should take a three-year vacation and come back again when those TOP bought in H2 2007 are ready to TOP.

[Unregistered]

I am worried lah. No buyer coming although I dropped price. Just see see no buy one. Scared now if I get stuck like last time. Better to drop pants and have underwear still rather than lose everything.
No need to worry lah.
You can't even afford to own a condo. What's there to worry?

Just stay in your HDB flat. Trust me. HDB flat prices will not drop.
So no worry for you.

[Unregistered]

Foreigner come stay your house. you think they come buy house? they not stupid.

Yes, they dont buy, they rent.

[blackjack21trader]

Wow! You very imaginative.

You can even "imagine" that "a lot of units dont have thier light on at night due to over supply."

Those that are TOP in 2009 and early 2010 were bought in 2006 and early 2007, when the price was still very low.

So thank you very much for your concerns, the bank loans are very low and interest repayment can be taken care of easily.

It is those condos bought in the later half of 2007 that need to worry. Those TOP coming in later half of 2010 and later, maybe the speculators need to worry, that is provided the sub-prime problem drags until then.

So thank you very much for your concerns, I have said many times that all the sour grapes should take a three-year vacation and come back again when those TOP bought in H2 2007 are ready to TOP.

Good point. Nailed right in the butt !

[blackjack21trader]

Allow me to announce the Era of low property prices is OVER !

[Unregistered]

Foreigner come stay your house. you think they come buy house? they not stupid.


I strongly believe there will be a lot of foreigners coming in, especially in the construction industries, but they are all those low income ones, how to afford the rent of condos & high end HDB? If you own a domitory, then maybe you will fetch good rent. Come on, the govt say population will increase substantially, but never say the proportions of foreigners who can afford the rent or even purchase of private properties here!

[Unregistered]

Good point. Nailed right in the butt !
His butt already on fire with drop in price. No place to drive nail lah.

[Unregistered]

You believe him? Not more than 300psf difference it should be. You dont have to be a rocket scientist to know the reason for the huge difference.



Still many others selling at 2500 and 2600psf. You get your own newspaper lah.

[Unregistered]

I strongly believe there will be a lot of foreigners coming in, especially in the construction industries, but they are all those low income ones, how to afford the rent of condos & high end HDB? If you own a domitory, then maybe you will fetch good rent. Come on, the govt say population will increase substantially, but never say the proportions of foreigners who can afford the rent or even purchase of private properties here!

ya man, let your unit be infested with 30 mankalis...

[Unregistered]

His butt already on fire with drop in price. No place to drive nail lah.
Drop in price? How much? Drop by -4.2%?

If drop by -4.2%, that means it has went up by 4.2%.

[Unregistered]

I strongly believe there will be a lot of foreigners coming in, especially in the construction industries, but they are all those low income ones, how to afford the rent of condos & high end HDB? If you own a domitory, then maybe you will fetch good rent. Come on, the govt say population will increase substantially, but never say the proportions of foreigners who can afford the rent or even purchase of private properties here!
Can don't mislead others?

These are professionals what.

http://l.yimg.com/us.yimg.com/i/us/nws/p/reuters_logo_94.png
Want to earn more? British professionals move abroad
Reuters
London, U.K.
Friday, 28 March 2008, Singapore Time

http://business.asiaone.com/a1media/business/01Jan08/images/20080122.165935_workers_350x175.jpg

British professionals could earn an average 40% more by relocating abroad, research shows.

The average professional expatriate earns 67,000 pounds (S$185,328), compared to a UK average of 47,000 pounds - 42.6% less, according to NatWest International.

Its 'wealth ranking survey', undertaken with the Centre of Future Studies think-tank, shows that the United Arab Emirates tops the charts, with professionals netting an average annual salary of 79,000 pounds.

Even Portugal, at the lower end, comes in with a respectable average annual wage of 58,000 pounds.

However, when the cost of living is taken into account Spain (with an average expat salary of 65,000 pounds) and Italy (76,000 pounds) jumped up the table.

Mr David Isley, head of personal banking at NatWest International, said: 'The wage packets of expats are very encouraging for people who are looking to move abroad.

'People who are willing to move abroad not only benefit from bigger earnings in countries such as Spain and Italy, but also have the advantage of a lower cost of living.' Overall, 68% of those surveyed found that the cost of living abroad to be lower than in the UK, which lead to 90% considering themselves financially better off.

Almost 70% also said they felt healthier living abroad.

Mr Isley said: 'Expats who have moved abroad appear to be wealthier, healthier and happier and all these factors have contributed to a better quality of life.

'It seems as if expats have not only found their pot of gold abroad, but are able to enjoy themselves and feel healthier for having made the move.'

The global survey also revealed the countries with the highest proportion of Britons working in certain occupations.

Canada had the most engineers, medical personnel, academics and teachers. IT professionals seemed to flock to Sweden; economists and accountants to Singapore; scientists to New Zealand; financial services workers to the UAE; and marketing and sales professionals to Portugal.

The research looked at expats in the following 10 countries: Canada, France, Italy, New Zealand, Norway, Portugal, Singapore, Spain, Sweden and the UAE.

A total of 1,399 expats were surveyed. The report was also based on a range of data including figures from the Office for National Statistics, International Passenger Survey, the Organisation for Economic Co-operation and Development and the World Values Survey.