View Full Version : What is a “Meaningful”Correction of Property Prices?
princess_morbucks
03-12-14, 12:33
http://www.scribd.com/doc/248777297/Singapore-Property-Weekly-Issue-184
http://www.talkmarkets.com/content/us-markets/guess-what-happened-the-last-time-the-price-of-oil-crashed-like-this?post=53841
Guess What Happened The Last Time The Price Of Oil Crashed Like This
Thanks bro Arcachon. So now is interesting and scary times.
Amber Woods
03-12-14, 17:09
http://www.scribd.com/doc/248777297/Singapore-Property-Weekly-Issue-184
Property prices will have to be affordable and match prices in 2008 before it would be reasonable to relax some of the current cooling measures, said a recent report by HSR Research.
“We believe that the government will continue to utilise the cooling measures as a means to influence the market in future, by relaxing or tightening the cooling measures to ensure the income to price ratio stays within an acceptable range. The range will likely be determined by referencing data from recent years. We postulate that the reference year could be within recent history, such as 2008.”
To match 2008’s level of affordability, prices need to fall by six percent for resale HDB flats and nine percent for resale condominiums.
“Our analysis indicates that the appropriate levels will be reached in Q3 2015 for resale HDB and in Q3 2016 for resale condo, based on current price and income trends. The affordability ratios might match their 2008 level earlier if prices decline at a faster rate and/or income rise at a higher rate.”
The report added demand is expected to rise due to greater affordability if price and income continue on increase: “Higher income coupled with lower prices will mean that a lower proportion of income is needed to service mortgages. This means that residential property will become more affordable to more people, leading to increased demand. This could potentially lead to higher transaction volume and prices.”
The report defines “affordability” as the ratio of average annual household income to the prices of HDB or private non-landed residential, from the perspective of first time Singapore buyers.
Muneerah Bee, Senior Journalist at PropertyGuru, wrote this story. To contact her about this or other stories email
[email protected]
I hope all private property owners stop voting for the PAP. It is clear the PAP govt is over interfering in the market and creating an artificial correction to benefit itself. :tongue3:
How? Like making it easier to buy new launch with progressive payment scheme, making it more difficult to enbloc because of short number of years that building must be completed and sold, allowing developers to give rebates, furniture and renovation vouchers and additional goodies not being reflected in the transacted price?
I hope all private property owners stop voting for the PAP. It is clear the PAP govt is over interfering in the market and creating an artificial correction to benefit itself. :tongue3:
PAP is holding the property price so that the salary can catch out.
Those who think PAP can make the property crash or rise think too highly of PAP.
They need 8 control measure and lot of incentive to move the property either way.
Oil drop is creating another crisis, hope for the best.
What is SG “Meaningful” Correction of Property Prices vs 温家宝 Quoted in 2012：中国房价远未回到合理价位 调控不能放松?
PAP is holding the property price so that the salary can catch out.
Those who think PAP can make the property crash or rise think too highly of PAP.
They need 8 control measure and lot of incentive to move the property either way.
Oil drop is creating another crisis, hope for the best.
PAP can make property crash or rise. But there is no super strong incentive to do either - one man's meat is another man's poison.
Some CMs are actually cleverly phrased heating measures in my opinion - for example, SSD reduce number of sellers artificially. My opinions only.
The last time I knew of oil soaring, prices of everything (especially houses and food) shot through the roof. What should we expect for oil drop?
PAP can make property crash or rise. But there is no super strong incentive to do either - one man's meat is another man's poison.
Some CMs are actually cleverly phrased heating measures in my opinion - for example, SSD reduce number of sellers artificially. My opinions only.
The last time I knew of oil soaring, prices of everything (especially houses and food) shot through the roof. What should we expect for oil drop?
Yeah this is PAP's dilemma. Some measures might actually be anti-cooling and contravenes with PAP's effort of reducing property prices. I think it might have been implemented during a time when MBT had underestimated the property bull and used certain measures to hold the market. Unfortunately, measures like SSD caused a cold-war between buyers and sellers which never resulted in a fall or rise in property prices. This escalated into what we have now a pent up demand in the property market. Removing such measures will only cause prices to plunge. @august, be careful of what you asked for.
to some when everything is Free is meaningful.
To some like you, telling LIEs as though it is the true!
to some when everything is Free is meaningful.
What is SG “Meaningful” Correction of Property Prices vs 温家宝 Quoted in 2012：中国房价远未回到合理价位 调控不能放松?
We need to look into the future and think hard until our hair drop. No leaders can provide us an absolute answer of "meaningful" correction of Property Price.:confused:
After spending SGD 1.47 billion = SGD 1,470,000,000 anyone think the Meaningful correction still be below today value.
Got money go and buy, waiting for Durain to drop not a wise move.
Changi Airport and CapitaMalls in joint venture to run $1.47 billion Project Jewel
Construction on the $1.47 billion mixed-use building designed by renowned architect Moshe Safdie will start in the second half of next year. Mr Safdie was also responsible for another Singapore icon - the Marina Bay Sands.
Here is the press release from Changi Airport Group in full:
Changi Airport Group ("CAG") and CapitaMalls Asia Limited (SGX: JS8 and HKEx: 6813) are pleased to announce that their respective wholly owned subsidiaries, Jewel Changi Airport Holding Pte. Ltd. and CMA Singapore Investments Pte. Ltd., have today signed a joint venture ("JV") agreement to develop an iconic mixed-use development at Changi Airport - codenamed Project Jewel - which is envisaged to be a world class lifestyle destination in Singapore. The two companies had previously entered into a Memorandum of Understanding to develop the concept and detailed plans for Project Jewel.
CAG and CapitaMalls Asia will be setting up a private trust, a trustee-manager and a property manager as the JV entities, with CAG being the majority 51 per cent shareholder and unit holder of the JV entities and CapitaMalls Asia owning the remaining 49 per cent. Including land cost, the development cost of Project Jewel is expected to be about S$1.47 billion.
To be built on the surface car park site fronting Changi Airport Terminal 1 ("T1"), which measures about 3.5 hectares (377,000 square feet, "sq ft"), Project Jewel will offer a range of facilities for airport operations, retail offerings and leisure attractions. With outstanding architecture and an exciting myriad of lifestyle offerings, this signature lifestyle destination will enable Changi Airport to capture greater tourism mindshare and strengthen its appeal as an air hub.
Project Jewel, with its distinctive dome-shaped facade made of glass and steel, will be an iconic landmark in Changi Airport's landscape. It is designed by a consortium of design consultants comprising Safdie Architects, Benoy and local architects RSP. World renowned architect Moshe Safdie, who leads Safdie Architects, was behind the design of Marina Bay Sands, another iconic landmark of Singapore.
Benoy, part of the design consortium for Terminal 4, and RSP were respectively the design consultant and local architects for ION Orchard, as well as the recently opened Westgate in Singapore.
The complex will have five storeys above ground and five basement storeys, comprising two basement storeys of mainly retail and car park spaces and another three basement storeys of car park. The complex will cover a total gross floor area ("GFA") of about 134,000 square metres ("sq m") (1,443,000 sq ft). This will comprise about 17,000 sq m of facilities for airport operations, 22,000 sq m of attractions, 5,000 sq m of hotel space and 90,000 sq m of retail space. The net lettable area ("NLA") of the retail space, which is located from Basement 2 to Level 5, is about 53,500 sq m.
Within Project Jewel, there will be unique leisure attractions and activities for the young and old - including a large-scale, lush indoor garden with a central waterfall of about 40 metres in height - and a wide range of retail and dining offerings, including exciting new-to-Singapore concepts, top international brands as well as home-grown names.
The facilities for airport operations in Project Jewel will further strengthen Changi Airport's existing service offerings to enhance the passenger's travel journey. There will be facilities dedicated to the fly-cruise and fly-coach passenger segment, as well as training facilities and communal event spaces for the 32,000-strong airport community. The basement car park will almost treble the capacity of the current T1 car park to about 2,500 parking spaces. In addition, Project Jewel will also serve as a node that improves connectivity between Terminals 1, 2, 3 and the Changi Airport MRT station.
The redevelopment of the T1 car park will allow CAG to meet a critical objective of increasing Changi Airport's passenger handling capacity. As part of the redevelopment works, T1, which was previously hemmed in by roadways, will be expanded, allowing for more space for the arrival meeters and greeters hall, baggage claim areas and taxi bays.
Mr Lee Seow Hiang, Chief Executive Officer of CAG, said, "Project Jewel is a significant gamechanging project for CAG in our journey to strengthen Changi Airport's status as a major global air hub. In today's highly competitive landscape where airports around the world are actively competing for passengers' mindshare, we cannot stop innovating. Project Jewel will give us this additional edge."
"With its strategic location at Changi Airport's doorstep, we are able to integrate this exciting destination seamlessly with the airport's offerings, to serve both international travellers and local visitors.
For the many Singaporeans who already enjoy coming to the airport for leisure, Project Jewel will offer an unprecedented experience of another level. Together with our partner, CapitaMalls Asia, a very established player in the arena of lifestyle and retail developments regionally, we are confident that Project Jewel will be a world-class attraction near home that Singaporeans will not only enjoy immensely, but be proud of. This, together with our other key expansion projects - Terminal 4 and Changi East - positions Changi Airport very strongly for growth over the long-term."
Mr Lim Beng Chee, Chief Executive Officer of CapitaMalls Asia, said, "CapitaMalls Asia is excited about partnering Changi Airport Group to create a must-visit destination for tourists to Singapore and passengers transiting through Changi Airport, as well as a unique place that Singaporeans and local residents can enjoy with their families and friends.
Located at the airport, the site presents an ideal opportunity for global and local retailers and F&B operators to create one-of-a-kind stores and dining concepts, to cater to a ready cosmopolitan catchment with more than 50 million passenger movements from 270 cities every year. This will provide an ideal platform both for American and European retailers to introduce and promote their offerings in Asia, as well as Asian retailers to do likewise with a global audience. The integration of indoor gardens, attractions and retail offerings in a single venue will also give brands that have yet to enter Singapore or even Asia, a good reason to be here."
"We will leverage our experience in developing iconic shopping malls and integrated developments both in Singapore and around Asia, and our well-established network of international and local retailers to deliver a landmark project that will be the pride of Singapore." Construction for Project Jewel is scheduled to begin in the second half of 2014, and the development is targeted to open by the end of 2018.
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To some like you, telling LIEs as though it is the true!
Like some Bullshit is a per min event.
Bullshitter like you who is still unable to back up your claim with the expense list to show that a retiree can survive on $308 per month in Singapore? :tongue-fingers:
Like some Bullshit is a per min event.
Bullshitter like you who is still unable to back up your claim with the expense list to show that a retiree can survive on $308 per month in Singapore? :tongue-fingers:
Bullshitter like you keep beating around the bush when I ask u to show me what at the essentials spend ! Where are your list? don't tell me go holiday , buy gifts , shopping etc. Thats rich pricks like you so call essentials? I call ur BULLSHIT
minority You Bloody BULLSHITTER and LIAR LIAR LIAR !!!!!!!!!!!!!
I already re-posted don't know how many times and you still keep lying that I have not posted the list?
You can refer to the list at this webpage:
http://forums.condosingapore.com/showthread.php/22394-Iskandar-indigestion-confirmed-lelong-to-come-as-expected/page10?p=491017&highlight=#post491017
Now, please specify your list of basic necessities that comes to $308 per month that you said is more than enough for a person to survive in Singapore! - You Bloody stupid LIAR LIAR LIAR !!!!!!!!!!!
Bullshitter like you keep beating around the bush when I ask u to show me what at the essentials spend ! Where are your list? don't tell me go holiday , buy gifts , shopping etc. Thats rich pricks like you so call essentials? I call ur BULLSHIT
minority You Bloody BULLSHITTER and LIAR LIAR LIAR !!!!!!!!!!!!!
I already re-posted don't know how many times and you still keep lying that I have not posted the list?
You can refer to the list at this webpage:
http://forums.condosingapore.com/showthread.php/22394-Iskandar-indigestion-confirmed-lelong-to-come-as-expected/page10?p=491017&highlight=#post491017
Now, please specify your list of basic necessities that comes to $308 per month that you said is more than enough for a person to survive in Singapore! - You Bloody stupid LIAR LIAR LIAR !!!!!!!!!!!
That's someone else list I amaskingbur list. I already tell u don't bull shit me holiday , buy gifts go call chicken etc. those are not essentials u bulls shitter!!!!!!!
So? Since you said those not considered, then please list down what you considered as essentials and tell us the total!
Electricity not essential?
Medicine not essential?
Pay GST not essential?
Medical Insurance not essential?
See GP fees not essential?
Oh ho ho! What bloody bullshitter and LIAR since you can't even list your so-called essential items! :tongue4:
That's someone else list I amaskingbur list. I already tell u don't bull shit me holiday , buy gifts go call chicken etc. those are not essentials u bulls shitter!!!!!!!
So? Since you said those not considered, then please list down what you considered as essentials and tell us the total!
Electricity not essential?
Medicine not essential?
Pay GST not essential?
Medical Insurance not essential?
See GP fees not essential?
Oh ho ho! What bloody bullshitter and LIAR since you can't even list your so-called essential items! :tongue4:
What BULLSHIT you want co kpkp? bunch of lies. U mean not enough to cover u tell me how much u use!!!! Polyclinic NO GST Bullshiiter!!! U are a bloody rich prick want to buy big car, eat big resturant meals n enjoy life but don't want to pay TAX!!!!! I CALL UR BULLSHIT BLUFF!
Electricity not essential? - GST U-SAVE Voucher
Medicine not essential? GST- MEDISAVE Voucher ( Polyclinic No GST!)
Pay GST not essential? GST- CASH Voucher
Medical Insurance not essential? GST- MEDISAVE Voucher
See GP fees not essential? Polyclinic Not GP?????
Ho ho ho!
minority, what bloody LIAR!
So you saying cost of basic essential living in Singapore is ZERO because of all those GST rebates?
Expenses:
1) Electricity = $0 (because GST U-SAVE Voucher)
- First time I heard GST U-SAVE Voucher is enough to cover all your electricity, water, and gases usage and you have to pay from your own pocket! What bloody LIAR!
2) Medicine = $0 (because GST- MEDISAVE Voucher)
* ( Polyclinic No GST!) - Polyclinic consultation and medicine is ZERO???! :asshole:
- First time I heard GST- MEDISAVE Voucher is enough to cover all Polyclinic consultation and medicine costs! What bloody LIAR!
3) GST = $0 (because GST- CASH Voucher)
- What bloody LIAR!
4) Medical Insurance = $0 (because GST- MEDISAVE Voucher)
- First time I heard GST- MEDISAVE Voucher is enough to cover all medical insurance and all medical costs! What bloody LIAR!
Total essential living expenses in Singapore = $0 (according to minority!) - What bloody LIAR! :asshole:
What BULLSHIT you want co kpkp? bunch of lies. U mean not enough to cover u tell me how much u use!!!! Polyclinic NO GST Bullshiiter!!! U are a bloody rich prick want to buy big car, eat big resturant meals n enjoy life but don't want to pay TAX!!!!! I CALL UR BULLSHIT BLUFF!
Electricity not essential? - GST U-SAVE Voucher
Medicine not essential? GST- MEDISAVE Voucher ( Polyclinic No GST!)
Pay GST not essential? GST- CASH Voucher
Medical Insurance not essential? GST- MEDISAVE Voucher
See GP fees not essential? Polyclinic Not GP?????
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