View Full Version : Chinese Developers bidded $1b or 1051psf ppr for the Stirling road site
bargain hunter
18-05-17, 19:13
Chinese Developers bidded $1b or 1051psf ppr for the Stirling road site beating MCL Land at $970psf ppr by $77m.
https://www.ura.gov.sg/uol/-/media/User%20Defined/URA%20Online/media-room/2017/May/pr17-34a.pdf
Wow, china will prop up sg market soon, gov better ready to prepare more CM lol
Yes, very bullish news.
LOL
Looks like Morgan Stanley predictions were not baseless...
tonymontana
18-05-17, 22:02
looking at the land prices transacted by developers, i find it hard to believe prices will crash 50% soon. Good news for those vested
Astute move by China to give up Forrest City and invest in Sg direct.
Current SG prices are inbelievably cheap for them...
Wow, china will prop up sg market soon, gov better ready to prepare more CM lol
anythingwhatever
19-05-17, 09:34
Chinese Developers bidded $1b or 1051psf ppr for the Stirling road site beating MCL Land at $970psf ppr by $77m.
https://www.ura.gov.sg/uol/-/media/User%20Defined/URA%20Online/media-room/2017/May/pr17-34a.pdf
Is this the first time developer bid at $1000+ psf?
Is this the first time developer bid at $1000+ psf?
I think so for this location.
They are more concerned with securing than absolute prices, as prices are just too cheap in comparison to the countries they have presence.
Commonwealth Towers was bid at 883 PSFPPR IIRC.
http://www.propertyguru.com.sg/property-management-news/2017/5/152697/foreign-developers-jointly-bid-over-1-billion-for-queenstown-site?utm_source=facebook&utm_medium=social&utm_campaign=SG-PG-FBOrganic-20170518&utm_content=FBOrganicPost_PropertyNewshttps://sg1-cdn.pgimgs.com/cms/news/2017/04/Stirling-Road-reserve-list-site.original.jpg
UPDATED: The tender for a 2.11ha residential site at Stirling Road in Queenstown that could yield 1,110 units attracted substantial interest from developers, with a total of 13 bids submitted at the close of the tender exercise on Thursday (18 May), said the Urban Redevelopment Authority (URA).
Hong Kong-listed Logan Property and Nanshan Group from China jointly submitted the highest bid of just over $1 billion for the large site. The second-highest bid of $925.7 million came from MCL Land, followed by a $901 million offer from OUE.
Dr Lee Nai Jia, Head (SEA) Research at Edmund Tie & Co., said the winning bid works out to about $1,050 psf per plot ratio, which means the breakeven price will likely be around $1,600 psf to $1,700 psf.
He revealed that the average price for other developments in the Queenstown and Redhill area, which includes Queens Peak ($1,696 psf) and Principal Garden ($1,662 psf), are priced within the same range.
One of the main attributes of the Stirling Road site is its central location and proximity to the Queenstown MRT station, noted Lee. “It is also close to the Buona Vista area, which consists of high growth industries such as pharmaceuticals and R&D. The rental catchment is substantial, as it appeals to people working in the CBD or Jurong East.”
Offered on a 99-year lease, the land parcel was originally on the reserve list of the Government Land Sales Programme. It was triggered for sale last month after an unnamed developer committed to a minimum bid of $685,250,000.
“The recent land bids and successful launches have further reinforced developers’ sentiments, and we expect stronger bids in upcoming launches. It will not be surprising to see another record bid for the tender of the mixed-use site located near the Bidadari housing estate,” added Lee.
The URA said a decision on the award of the tender will be made after the bids have been evaluated.
Suppose china gov should have given approval for such transaction?
For china wasting or losing billions is nothing, but for other countries the impact might be quite significant.
PropVestor
19-05-17, 17:34
Not really surprising for a city fringe location. A comparable development of this size is PLQ which transacted at $943psf but that was couple of years back. PLQ is right next to MRT though but this is a few minutes walk away from Queenstown MRT. More peace and quiet.
At this rate, we will be looking at $1,500psf for breakeven and $2,000 as base selling price in 2022 or so. Its a little hard for me to think Queenstown/Alexander area will fetch such prices a few years back.
This will have an effect on Phase IIs of Principal Garden, ARTRA this year and all future condo developments near Bukit Merah-Queenstown belt. Agents will definitely drumbeat for these second phases which is technically not wrong.
What I am unsure of is the background of these 2 developers (Logan and Nan Shan) other than they have lots of dough. Anyone can shed some light on these 2 newcomers?
2 cents,
PropVestor
Not really surprising for a city fringe location. A comparable development of this size is PLQ which transacted at $943psf but that was couple of years back. PLQ is right next to MRT though but this is a few minutes walk away from Queenstown MRT. More peace and quiet.
At this rate, we will be looking at $1,500psf for breakeven and $2,000 as base selling price in 2022 or so. Its a little hard for me to think Queenstown/Alexander area will fetch such prices a few years back.
This will have an effect on Phase IIs of Principal Garden, ARTRA this year and all future condo developments near Bukit Merah-Queenstown belt. Agents will definitely drumbeat for these second phases which is technically not wrong.
What I am unsure of is the background of these 2 developers (Logan and Nan Shan) other than they have lots of dough. Anyone can shed some light on these 2 newcomers?
2 cents,
PropVestor
China property strategy is simple. Over pay your competitor products (Singapore) to make their own product (Johor bahru) looks really cheap.
Is there any presedence the highest gls bid get rejected by gov?
China group beats forecasts with record S$1b bid for GLS site
Queenstown plot draws bids from several China and major local players; project size, unsold nearby supply are factors winning bidder will have to deal with
May 19, 2017
LYNETTE KHOO
A LARGE residential plot at Stirling Road launched by the government drew a record price of over S$1 billion in a joint bid from Logan Property Holdings - a newcomer hailing from China's Guangdong province - and Chinese conglomerate Nanshan Group.
The bullish bid of S$1,050.7 per square foot per plot ratio (psf ppr) on gross floor area for the 99-year-leasehold site also sets a new record in the Queenstown area, analysts point out.
This marks Hong Kong-listed Logan Property's maiden participation in the Government Land Sales (GLS) programme and foray into the Singapore residential market. "Bullish bidding is now the norm for GLS residential sites, driven by expected market recovery and limited number of sites on the market," said JLL national research director Ong Teck Hui.
The site - despite its 2.11-ha size and heavy financial commitment required - saw a healthy demand of 13 bidders in total.
CBRE head of research for Singapore and South-east Asia Desmond Sim noted that the substantial number of bidders for this relatively large plot reflects both the hunger of developers for limited sites and their upbeat sentiments. "The turnout is also another indicator that the market has indeed reached a trough," he concluded.
In what analysts see as a determination to enter the Singapore market, the top bid by the Chinese consortium is 8.3 per cent higher than the next highest bid tabled by MCL Land, and is 20.6 per cent higher than the S$871 psf ppr that MCC Land paid in June 2015 for the land parcel for Queens Peak.
This also came above the consultants' forecast range of S$780-S$1,000 psf ppr. Cushman & Wakefield research director Christine Li noted that the top bid "signals the developers' strong confidence in the Singapore residential market, their belief that prices could return to growth soon and the ability to price higher than the existing launches in the vicinity". Competition was fairly stiff with close to half of the tenderers bidding in excess of S$900 psf ppr for the site, she added.
Logan Property investor relations director Derek Lee told The Business Times that while the group continues to be focused on the Guangdong-Hong Kong-Macao Greater Bay Area, it has been studying the Singapore market for a while and believes "this is the right time to enter Singapore".
"No one knows where the (market) bottom is but our bidding price is reasonable given the quality land site and location," Mr Lee said.
The 227,000 sq ft plot near Queenstown MRT Station is expected to yield 1,110 units. Mr Lee said it is too early to share further details on the project, but analysts are projecting an average selling price from S$1,700 psf northwards.
Ms Li noted that despite the capital controls put in place by the Chinese government on the outflow of funds, the sheer amount of liquidity in the market is driving the appetite of aggressive Chinese developers.
Other Chinese players who participated in this tender were Kingsford Development and China Construction; the site also drew interest from major Singapore players CapitaLand, a consortium led by Hong Leong Holdings, UOL Group that tied up with Singapore Land, and Frasers Centrepoint Ltd.
Edmund Tie & Company head of South-east Asia research Lee Nai Jia felt that with recent land bids and successful launches reinforcing developers' upbeat sentiments, it "will not be surprising to see another record bid for the tender of the mixed-use site located near the Bidadari Housing Estate".
But there was also caution from some developers who tabled the lower bids.
Mr Ong noted that the second to eighth bids were in the range of S$885-S$970 psf ppr, closer to expectations and within a 10 per cent margin. This suggests some consensus in their outlook as well as caution, given the huge scale of the development and the unsold supply in the vicinity, he said.
The land parcel was first made available for sale on the Reserve List in March 2010 as two smaller adjoining parcels, before being merged as a single parcel for sale on the H1 2012 Reserve List. It was triggered for sale in April after a developer committed to bid at no less than S$685.25 million.
The tender conditions for the Stirling Road site require the winning bidder to apply pre-fabricated pre-finished volumetric construction (PPVC) method for the development, a construction method that involves entire unit modules being fabricated off-site before being assembled on-site. It will also have to provide an infant care and/or a child care centre with a minimum gross floor area of 500 sq m.
SLP International executive director Nicholas Mak said he expects the developers for this project to launch the residential units at above S$1,780 psf from mid-2018 onwards.
But he flagged that the relatively large project heightens the risk of developers having to pay the additional buyer's stamp duty on the land cost if they do not sell all the units within five years.
Still, market watchers are expecting this bidding fervour to spill over into the en bloc market, where the first collective sale of One Tree Hill Gardens near Orchard Road has been snagged by Lum Chang Holdings this month for S$65 million.
Demand for en bloc sites, however, will depend on how many GLS sites the government will decide to release in the second half of this year, Mr Mak said.
Cooling the rising temperature in the land sale market may be seen as a greater priority now, even at the risk of an oversupply in the rental market three to four years down the road, he added.
Is there any presedence the highest gls bid get rejected by gov?
LOL. Wait long long.
Will be surprised if the bid is deemed too high and get rejected.
This government is either clueless on what is happening in the property market, or is simply bochap.
An exuberance take-up rate of new launches will not trigger a bull market in the wider market. Just consider who benefits from new launch sales? Yes, the bullish bid of GLS is the result of money printing.
Rental is still weak and from what I can see, rents still can't cover mortgage (or barely so). Not forgetting tax & maintenance cost etc.
I'm curious if investors now are bullish because they see more immigrants supporting rental or stronger economic growth?
Anybody paid absd recently to get back into the market?
ccreporter
20-05-17, 12:11
Rental is still weak and from what I can see, rents still can't cover mortgage (or barely so). Not forgetting tax & maintenance cost etc.
I'm curious if investors now are bullish because they see more immigrants supporting rental or stronger economic growth?
Anybody paid absd recently to get back into the market?
I paid absd.
As an investment, you don't need rental to cover mortgage, you only need rental to cover interest.
And 'how many 10 years do you have'
bargain hunter
20-05-17, 12:38
Rental is still weak and from what I can see, rents still can't cover mortgage (or barely so). Not forgetting tax & maintenance cost etc.
I'm curious if investors now are bullish because they see more immigrants supporting rental or stronger economic growth?
Anybody paid absd recently to get back into the market?
i think more and more people are used to topping up for monthly installments and/or paying more deposit initially. for a 2nd mortgage of 50% loan, depending on age, many buyers still can cover the loan with rental and still have some positive cashflow?
I paid absd.
As an investment, you don't need rental to cover mortgage, you only need rental to cover interest.
And 'how many 10 years do you have'
http://www.vpdm.ca/wp-content/uploads/2015/10/FB-IN-2.jpg
tonymontana
20-05-17, 12:55
Rental is still weak and from what I can see, rents still can't cover mortgage (or barely so). Not forgetting tax & maintenance cost etc.
I'm curious if investors now are bullish because they see more immigrants supporting rental or stronger economic growth?
Anybody paid absd recently to get back into the market?
we paid absd . it's true rents are dropping but i'm uncle already don't have much time left, since got spare money in cpf just kah kah hoot. basically same thinking as arcachon here, and also prices have moderated somewhat (by 20%). found it much easier to negotiate lower price these days although not everyone will firesale their unit. i still see singapore property as blue chip investment esp in / around this region. people talk about msia, Iskandar, bangkok (not cheap) vietnam etc. But i think singapore residential still the safest. stocks are OK but win some, lose some, and the tendency for stocks is to over trade since it's so liquid.
rental is tough, but can cover.
anythingwhatever
20-05-17, 20:38
we paid absd . it's true rents are dropping but i'm uncle already don't have much time left, since got spare money in cpf just kah kah hoot. basically same thinking as arcachon here, and also prices have moderated somewhat (by 20%). found it much easier to negotiate lower price these days although not everyone will firesale their unit. i still see singapore property as blue chip investment esp in / around this region. people talk about msia, Iskandar, bangkok (not cheap) vietnam etc. But i think singapore residential still the safest. stocks are OK but win some, lose some, and the tendency for stocks is to over trade since it's so liquid.
rental is tough, but can cover.
I paid absd.
As an investment, you don't need rental to cover mortgage, you only need rental to cover interest.
And 'how many 10 years do you have'
Wow, power, 3, 7 or 10%?
3% is BSD all must pay.
Only 7% or 10% apply for 2nd or 3rd property onwards. But they all need to add 3% BSD.
Wow, power, 3, 7 or 10%?
we paid absd . it's true rents are dropping but i'm uncle already don't have much time left, since got spare money in cpf just kah kah hoot. basically same thinking as arcachon here, and also prices have moderated somewhat (by 20%). found it much easier to negotiate lower price these days although not everyone will firesale their unit. i still see singapore property as blue chip investment esp in / around this region. people talk about msia, Iskandar, bangkok (not cheap) vietnam etc. But i think singapore residential still the safest. stocks are OK but win some, lose some, and the tendency for stocks is to over trade since it's so liquid.
rental is tough, but can cover.
Totally agree, ABSD is just another BSD but with an 'A' added to confuse people. But be careful to sink all in 1 baskets, that's my advice. I also paid ABSD coz i run out of names to use.
anythingwhatever
21-05-17, 09:59
3% is BSD all must pay.
Only 7% or 10% apply for 2nd or 3rd property onwards. But they all need to add 3% BSD.
Oh, was referring to the 3% during 2011-2013 era...
Wow, power, 3, 7 or 10%?
Property selling above SGD 360,000.
3%-$5,400
3%-$5,400+7%
3%-$5,400+10%
https://www.iras.gov.sg/IRASHome/Other-Taxes/Stamp-Duty-for-Property/Working-out-your-Stamp-Duty/Buying-or-Acquiring-Property/What-is-the-Duty-that-I-Need-to-Pay-as-a-Buyer-or-Transferee-of-Residential-Property/Buyer-s-Stamp-Duty--BSD-/
Usually I ignore that 5,400 as it's rather small difference unless buying lower price than 500K. But you are right.
Property selling above SGD 360,000.
3%-$5,400
3%-$5,400+7%
3%-$5,400+10%
https://www.iras.gov.sg/IRASHome/Other-Taxes/Stamp-Duty-for-Property/Working-out-your-Stamp-Duty/Buying-or-Acquiring-Property/What-is-the-Duty-that-I-Need-to-Pay-as-a-Buyer-or-Transferee-of-Residential-Property/Buyer-s-Stamp-Duty--BSD-/
tonymontana
21-05-17, 13:43
Wow, power, 3, 7 or 10%?
nothing power about it - whether 3,7,or 10 doesn't matter , its still a lot of money that i absolutely didn't want to pay if i could help it. Just that i'm not getting younger as the days go by.
tonymontana
21-05-17, 13:44
3% is BSD all must pay.
Only 7% or 10% apply for 2nd or 3rd property onwards. But they all need to add 3% BSD.
i think bro anythingwhatever was refering to ABSD of 3% which was payable before 2013. it was jacked up to 7% later.
tonymontana
21-05-17, 13:45
Totally agree, ABSD is just another BSD but with an 'A' added to confuse people. But be careful to sink all in 1 baskets, that's my advice. I also paid ABSD coz i run out of names to use.
same la. we also ran out of "trustworthy" names to use. The trustworthiness is important!
anythingwhatever
21-05-17, 14:47
i think bro anythingwhatever was refering to ABSD of 3% which was payable before 2013. it was jacked up to 7% later.
Bingo
anythingwhatever
21-05-17, 14:56
I paid absd.
As an investment, you don't need rental to cover mortgage, you only need rental to cover interest.
And 'how many 10 years do you have'
Actually also need it to cover many other costs including:
maintenance fees (a few hundred bucks monthly) ,
property taxes (a few thousands annually) ,
mortgage insurance premiums (not mandatory but better have, easily 3-5% of purchase price for reasonable coverage)
agent fees (assuming a few thousands annually if tenanted out)
wear and tear etc.
Just covering interests alone not enough... :)
i think bro anythingwhatever was refering to ABSD of 3% which was payable before 2013. it was jacked up to 7% later.
I see. Thanks for helping to clarify.
Astute move by China to give up Forrest City and invest in Sg direct.
anythingwhatever
22-05-17, 11:25
Astute move by China to give up Forrest City and invest in Sg direct.
Maybe Tengah is the next target, being the Forest City clone here... :)
Would be great if those china developer bringing their devoted followers to buy during SG launch.
Same for those local here buying overseas property built by local developer like Capitaland.
we paid absd . it's true rents are dropping but i'm uncle already don't have much time left, since got spare money in cpf just kah kah hoot. basically same thinking as arcachon here, and also prices have moderated somewhat (by 20%). found it much easier to negotiate lower price these days although not everyone will firesale their unit. i still see singapore property as blue chip investment esp in / around this region. people talk about msia, Iskandar, bangkok (not cheap) vietnam etc. But i think singapore residential still the safest. stocks are OK but win some, lose some, and the tendency for stocks is to over trade since it's so liquid.
rental is tough, but can cover.
For every cohort, the investment strategy was different. For this cohort, it is irrational to deploy CPF for investment property.
Making an investment means deploying idling money to earn better return; CPF is not idling money but deployed, it earns interest with compounding effect. Vic had explained this many times. For the 1990s cohort, it made sense to deploy CPF for property investment but not in this money-printing environment.
For every cohort, different types of property performed. For the 2010s (before CMs) cohort, the best performer (measured against sum deployed) was landed terrace and the worst performer CCR. Measured against capital deployed, the return from landed terrace was easily 600-700% in less than 2 years.
YBYM, you blink you miss it.
tonymontana
23-05-17, 11:06
For every cohort, the investment strategy was different. For this cohort, it is irrational to deploy CPF for investment property.
Making an investment means deploying idling money to earn better return; CPF is not idling money but deployed, it earns interest with compounding effect. Vic had explained this many times. For the 1990s cohort, it made sense to deploy CPF for property investment but not in this money-printing environment.
For every cohort, different types of property performed. For the 2010s (before CMs) cohort, the best performer (measured against sum deployed) was landed terrace and the worst performer CCR. Measured against capital deployed, the return from landed terrace was easily 600-700% in less than 2 years.
YBYM, you blink you miss it.
You could be right but I'm not so technical. I just like buying properties. And if one had bought during 2003-2004 like what some had done, i'm pretty darn sure the capital appreciation is better than keeping that money in cpf.
Unless of course propsoul is right and market corrects another 50%. If that happens I guess I have to keep working till i'm 80.
PropVestor
23-05-17, 11:16
Market corrects 50% before GE with 90% homeowners here in Singapore? Ask if we would like your most valuable possession to correct that much unless an external shock happens. I really hope I do not have to work till 80s. Maybe the East Asians would.
PropVestor
tonymontana
23-05-17, 11:24
Market corrects 50% before GE with 90% homeowners here in Singapore? Ask if we would like your most valuable possession to correct that much unless an external shock happens. I really hope I do not have to work till 80s. Maybe the East Asians would.
PropVestor
I'm quite sure market won't crash, that's why I bought a unit recently. just to give a balanced view, that's all. yeah, times are bad, rental sucks compared to 2012-2013. but is it really so bad compared to , say , Iskandar property? Seriously, I've tried other investments, but singapore property is still the safest asset class. In lieu of access to better and more stable investments, I guess I'm stuck. Just have to hold long term.
PropVestor
23-05-17, 12:00
I'm quite sure market won't crash, that's why I bought a unit recently. just to give a balanced view, that's all. yeah, times are bad, rental sucks compared to 2012-2013. but is it really so bad compared to , say , Iskandar property? Seriously, I've tried other investments, but singapore property is still the safest asset class. In lieu of access to better and more stable investments, I guess I'm stuck. Just have to hold long term.
Thats why I am hanging around here like you because we put our money where our mouth is. Bought at the peak in 2013 and another one 2 months ago. Both integrated developments which are largely unknown in returns and rental yields because they are very new to Singapore in both size and value. I share your views in viewing property as one of the safest asset class among other instruments around.
No point building Singapore to a metropolis and see it all go down in another 50 years. I put my money here in my homeland.
Thats why I am hanging around here like you because we put our money where our mouth is. Bought at the peak in 2013 and another one 2 months ago. Both integrated developments which are largely unknown in returns and rental yields because they are very new to Singapore in both size and value. I share your views in viewing property as one of the safest asset class among other instruments around.
No point building Singapore to a metropolis and see it all go down in another 50 years. I put my money here in my homeland.
LOL.
Investing is not about how garang you are.
I never said that market is going to crash.
PropVestor
23-05-17, 12:57
LOL.
Investing is not about how garang you are.
So putting money in the CPF is?
So putting money in the CPF is?
Is irrational if the purchase is an investment property.
But it is your money, who cares?
PropVestor
23-05-17, 13:36
LOL. Not sure what you are doing here then. You should go to the CPF forum instead.
LOL. Not sure what you are doing here then. You should go to the CPF forum instead.
You don't understand why CPF shouldn't be deployed for investment property in today's environment?
PropVestor
23-05-17, 14:06
You don't understand why CPF shouldn't be deployed for investment property in today's environment?
Its my money, who cares right?
Its my money, who cares right?
Right. LOL
tonymontana
23-05-17, 15:05
Thats why I am hanging around here like you because we put our money where our mouth is. Bought at the peak in 2013 and another one 2 months ago. Both integrated developments which are largely unknown in returns and rental yields because they are very new to Singapore in both size and value. I share your views in viewing property as one of the safest asset class among other instruments around.
No point building Singapore to a metropolis and see it all go down in another 50 years. I put my money here in my homeland.
I am very confident of singapore prospects long term, even though it is expensive to buy in. Btw, Singapore property market has a lot of "fans" even around this region. If not for the high barrier of entry, we 'd see a lot of foreign buying . anyway, If market crash 50% i will try my best to buy another bigger unit. Having said that, I do not go for new launches. I prefer older freehold property in as good a location as my budget allows.
rental is just to help defray costs. the end game is always long term play (for me at least).
tonymontana
23-05-17, 15:10
It is not true that using CPF to buy property is a poor investment decision.
What is true is that CPF earns you 2.5% (or whatever) virtually risk free. Whereas if you use that CPF to invest in property, your property may fall in capital value further. However, remember that the property can also appreciate in value. So basically, it's no risk 2.5% vs taking a bet.
on a side note, haven't you heard the saying:
"CPF is govt money. Rental income is your money."
It is not true that using CPF to buy property is a poor investment decision.
What is true is that CPF earns you 2.5% (or whatever) virtually risk free. Whereas if you use that CPF to invest in property, your property may fall in capital value further. However, remember that the property can also appreciate in value. So basically, it's no risk 2.5% vs taking a bet.
on a side note, haven't you heard the saying:
"CPF is govt money. Rental income is your money."
Have not use CPF on both PC also peanut in CPF.
I let the monkey take care of my peanut.
"CPF is govt money. Rental income is your money." be careful using future money, have see lot of people regret.
challenger
23-05-17, 20:42
I'm quite sure market won't crash, that's why I bought a unit recently. just to give a balanced view, that's all. yeah, times are bad, rental sucks compared to 2012-2013. but is it really so bad compared to , say , Iskandar property? Seriously, I've tried other investments, but singapore property is still the safest asset class. In lieu of access to better and more stable investments, I guess I'm stuck. Just have to hold long term.
Most of us here are to a certain extent confident about Singapore property, be it short/medium/long term, or we will not be making noise in this forum. Exposure to Singapore property is essential to most of our retirement planning. However, for myself, exposure to other products is also a must. Not all eggs in 1 basket mah. Unless you are 100% super confident, I am of the opinion that some diversification is required.
To be frank, the road ahead for Singapore is unlikely to be a bed of roses. Singapore may do very well, or we can also fall flat on our face. That is why, some exposure to US market (shares), European market, Japan market would be good. How much to allocate depends on your confidence lor. No fixed formula.
So need exposure to all these other market and service loan, where got so much $ right. Bo pian, service loan have to use CPF, at least a bit. Cash can deploy elsewhere. That is my view.
No risk no gain. Dodged a bullet in Walton. Lucky my project exited a few years back.
Probably you don't understand why people's CPF earning 2.5% per year peanuts should be deployed quickest possible to earn much higher returns?
The problem is even if we want to invest all our CPF also cannot! So no choice got stuck with earning 2.5% peanuts! :banghead:
Those who don't will see their paper money end up like "toilet paper" or "hell $"............ :sorrow:
You don't understand why CPF shouldn't be deployed for investment property in today's environment?
Probably you don't understand why people's CPF earning 2.5% per year peanuts should be deployed quickest possible to earn much higher returns?
The problem is even if we want to invest all our CPF also cannot! So no choice got stuck with earning 2.5% peanuts! :banghead:
Those who don't will see their paper money end up like "toilet paper" or "hell $"............ :sorrow:
Did I say buying for investment is a bad idea today?
Rio casa get sold today.
Next would be Eunosville.
Hot hot hot.
Rental is still weak and from what I can see, rents still can't cover mortgage (or barely so). Not forgetting tax & maintenance cost etc.
I'm curious if investors now are bullish because they see more immigrants supporting rental or stronger economic growth?
Anybody paid absd recently to get back into the market?
yes i paid 10% absd recently. waited too long, sian already.
Interesting. Freesoul buys property and propertysoul continues to avoid property.
Where did you purchase?
yes i paid 10% absd recently. waited too long, sian already.
anythingwhatever
29-05-17, 16:50
yes i paid 10% absd recently. waited too long, sian already.
3rd and subsequent properties, power!!
Most people likely have just one or below...
central area, actually there are good bargains out there, better value for money than those new launches.
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