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Reporter

09-12-09, 12:48

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Singapore’s economy may expand 5.5% next year, MAS survey shows
Shamim Adam
Bloomberg
Singapore
Wednesday, 9 December 2009, 12.00 pm CCT

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Singapore’s economy may grow faster next year than economists initially predicted as manufacturing and private consumption rebound, a central bank survey showed.

Gross domestic product may expand 5.5% in 2010, after shrinking 2% this year, according to the median forecast in a quarterly survey of economists by the Monetary Authority of Singapore released today. That compares with a September forecast for 4.5% growth next year and the government’s estimate of between 3% and 5%.

Singapore, whose economy expanded in the 6 months through September after a yearlong contraction, is dependent on a revival in overseas sales to sustain its recovery. The government last month said it doesn’t expect a return to recessionary conditions even as the outlook for the second half of 2010 remains uncertain.

“The data so far has been pretty encouraging and that’s contributing to the optimism as we go into 2010,” said David Cohen, an economist with Action Economics in Singapore. “We may still get jitters in the financial markets now and then as there remains uncertainty clouding the outlook for Singapore and the global economy.”

Economists in the September survey predicted GDP to shrink 3.6% this year. Since then, as the global economy improved, the city-state’s government raised its forecast to a contraction of at least 2%.

The US$182 billion ($254 billion) economy will probably grow 4.7% this quarter from a year earlier, the survey of 20 economists showed. GDP rose 0.6% in the three months ended Sept. 30 from a year ago.

Worst Recession

A rebound in industrial production has helped Singapore emerge from its worst recession since independence in 1965. The government last month raised its 2009 forecast for exports, predicting shipments may drop between 10% and 11%.

Manufacturing will probably fall 3.4% this year, and climb 6.3% in 2010, the survey showed. Exports may increase 10.1% next year after sliding 12% in 2009, the economists said.

Singapore’s building industry may slow in coming quarters as developers including Las Vegas Sands Corp. and Genting Bhd. complete their projects. Construction will advance 7.1% next year, less than half of the 16.5% pace expected in 2009, the economists estimated.

Private consumption may climb 3.8% in 2010, while financial services may increase 6.5%, according to the median estimates.

InflatiÖn To Quicken

Singapore’s unemployment rate may be 3.4% at the end of 2009, and fall to 3% by end-2010, the survey showed. The jobless rate was 3.4% in the third quarter.

Consumer prices will probably rise 0.3% in 2009 and 2.8% next year, according to the survey. The central bank, which uses its currency rather than interest rates to manage price gains, forecasts inflation will be about zero this year and average 2.5% to 3.5% in 2010.

The monetary authority in October said it will maintain a no-appreciation stance in its currency policy, refraining from further monetary easing after opting for a de-facto devaluation of the exchange rate in April to counter collapsing exports.

The Singapore dollar will probably end this year at $1.382 versus the U.S. currency, compared with a September prediction of $1.44, the survey showed. It may strengthen to $1.35 by the end of 2010, the economists said.

The currency traded at $1.3939 as of 11:10 a.m. in Singapore today.

Reporter

09-12-09, 14:47

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Singapore Dollar to gain strength
Kevin Yao
Reuters
Singapore
Wednesday, 9 December 2009, 9.41 am CCT

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Singapore dollar is expected to strengthen to 1.350 against the US dollar by the end of next year, compared with a forecast 1.382 by the end of 2009, a central bank survey showed on Wednesday.

Singapore's economy is forecast to grow 5.5% next year, versus expectations of a 2.0% contraction this year, as the trade-dependent city-state rebounds from its worst recession, the survey of 20 private economists said.

Economists have lifted their expectations for growth and inflation next year, which may spur the central bank to tighten monetary policy at its next review meeting in April, by allowing its currency to gradually strengthen.

The Singapore dollar, which the central bank uses as its main policy tool by managing its exchange rate against a secret trade-weighted basket of currencies, was trading at 1.3932 against the US dollar by 0400 GMT (12pm Singapore time / CCT), after having gained more than 3% this year.

The survey showed the consumer price index rising 2.8% in 2010, after a forecast 0.3% increase this year, in line with the government's 2010 forecast of a rise in the consumer price index of between 2.5% to 3.5%.

Gross domestic product was seen growing 4.7% in the fourth quarter from a year ago, the survey said, versus actual 0.6% annual growth in the third quarter when the economy returned to growth after three quarters of annual contractions.

Reporter

10-12-09, 08:50

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HK luxury home prices may rise 10% in 12 months
The Business Times
Hong Kong
Thursday, 10 December 2009

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39 Conduit Road

Luxury home prices in Hong Kong may rise by 10% in the next 12 months as low interest rates and limited supply fuel demand, Colliers International Ltd said.

Hong Kong home prices have risen 28% this year, according to the weekly Centa-City Leading Index, recovering faster than London and New York on mainland Chinese buyers and record-low mortgage rates. Luxury housing has outperformed the overall property market, according to Colliers, a global real-estate broker and manager.

‘Prospective purchasers are mainly buyers coming from mainland China, 40% of the total, followed evenly by upgraders, expatriates, industrialists and investors,’ Ricky Poon, Colliers’ executive director of residential sales, said in an e-mailed statement today.

Sales of homes worth more than HK$10 million (S$1.79 million) each jumped 44% to 1,231 transactions in the first 11 months of this year from the same period in 2008, and prices rose 40% on the same basis, the statement said.

Homes worth more than HK$10 million or that are larger than 1,000 sqft are classed as luxury residences in Hong Kong.

Reporter

10-12-09, 09:07

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Pricey is right for 2010 home sales: observers
Mass-market sales may ease, focus is on high-end homes
Emilyn Yap
The Business Times
Thursday, 10 December 2009

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Markets are stabilising and developers here are ready to roll out pricey homes. Industry watchers are keeping their fingers tightly crossed for the high-end residential sector, which could see more launches next year if economies sail smoothly towards recovery.

According to Colliers International estimates, 10,671 private homes are set for launch next year. And 46% or 4,958 units will be in the core central region (CCR).

Prime projects that could hit the market include the former Farrer Court site, which CapitaLand and partners bought en bloc in 2007, and Wheelock Properties's Ardmore 3.

Another 33% or 3,498 units will originate from the rest of central region (RCR). The outside central region (OCR) will account for the remaining 21% or 2,215 launch-ready units.

The distribution of homes already launched this year is almost exactly the reverse, with the bulk of units coming from the booming mass-market sector. Colliers estimates that by end-December, 13,542 homes will have been released, of which 43% or 5,822 units will be from OCR.

About 33% or 4,429 units will be from RCR, while 24% or 3,291 units would be from CCR.

'Developers are likely to be encouraged to release more mid-tier or high-end units in 2010,' says Colliers research and advisory director Tay Huey Ying. She cites several reasons - signs of investors and foreign buyers returning, improved economic prospects and the opening of the integrated resorts (IRs).

The strong take-up rate at Marina Bay Suites' recent preview has raised hopes. Of the 90 units released, 87 were sold and the average price ranged from $2,200-$2,500 psf.

Jones Lang LaSalle (JLL) head of South-east Asia research Chua Yang Liang adds: 'Positive sentiment from high net worth individuals and wealthy foreign buyers could return by H1 2010 and support transactional activity.'

Backing this view, a recent study by Barclays Wealth and the Economist Intelligence Unit found that wealthy individuals here plan to allocate a larger share of their investment portfolios to property in the next two years.

The big question is how much developers can sell fancy homes for, as doubts linger over the sustainability of economic recovery. DTZ Southeast Asia research head Chua Chor Hoon is one of several observers who expect 'more upside potential' for high-end property prices in the coming year.

According to Urban Redevelopment Authority indices, prices of non-landed CCR properties are still some way below the 2008 peak - 16.8% down at Q3. In comparison, non-landed OCR property prices shot up this year and were just 2.5% short of the peak.

Deutsche Bank analysts wrote in a report on Monday that high-end prices could rise 5-10% in the coming year.

But even as optimism grows, some players are quick to highlight uncertainties. JLL's Dr Chua stresses that new demand for property has to be backed by global or regional economic growth.

Several economists have flagged the risk of bubbles forming in Asian property markets. The Singapore government introduced cooling measures in September.

The Monetary Authority of Singapore also said more action may be needed if recent measures to dampen speculation prove insufficient.

City Developments executive chairman Kwek Leng Beng told BT last month the private home market here 'will slow down', following the MAS warning and the return of the confirmed list.

Reporter

10-12-09, 15:13

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South Korea freezes key interest rate for 10th month
Agence France-Presse
Seoul, South Korea
Thursday, 10 December 2009, 1.50 pm CCT

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A South Korean security worker prepares a batch of new money for release at the central bank in Seoul. The Bank of Korea has frozen its key interest rate at a record low 2% for a 10th month, the financial body said in a statement. - Photo: Jung Yeon-Je, AFP

South Korea's central bank Thursday froze its key interest rate at a record low 2.0% for a 10th month, saying uncertainties remain about the pace of the country's economic recovery.

At its monthly policy meeting, the Bank of Korea kept the benchmark seven-day repo rate unchanged. It had cut the rate by a total of 3.25% points between October 2008 and February to bolster the economy.

'Exports and consumption have continued to improve. There still, however, remains uncertainty as to the economic growth path,' the bank said in a statement. 'There is a considerable degree of uncertainty over the actual growth path.'

Governor Lee Seong-Tae said the central bank would consider raising interest rates gradually, citing a "bright" outlook for economic growth next year.

The economy is forecast to grow between 4% and 5% next year, he said, stressing the need to prepare for a gradual tightening of rates.

He said South Korea should act "preemptively on its exit strategy" from the economic crisis because it could be too late if it waits for clear evidence of a recovery.

"We must move closer to the exit if we want to get out at a proper time," the governor said.

He predicted inflation would remain generally stable but expressed concern about a continued rise in household debt and mortgage lending.

Official data showed the rise in property prices had slowed and mortgage lending had grown on a similar scale to last month.

A series of economic numbers has fuelled optimism that Asia's fourth largest economy is quickly pulling out of the global downturn.

The economy grew 3.2% in the third quarter from 3 months earlier, the fastest quarterly expansion in more than 7 years, thanks to improving domestic demand and brisk exports.

The International Monetary Fund, in its latest estimate this week, raised its forecast to 0.25% GDP growth this year, up from October's projection of a 1.0% decline.

For 2010 it predicted an expansion of 4.5%, up from the previous 3.6% forecast.

But President Lee Myung-Bak at an economic seminar Thursday warned against complacency.

"There is a growing view that prospects for next year are somewhat positive, but I believe there are still too many uncertainties in the global economy," he said.

"I believe we must not be complacent, at least until the end of the first half of next year, and (should) preemptively implement budget spending that will help stimulate the economy."

Reporter

10-12-09, 16:05

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China property prices surge
Agence France-Presse
Beijing, China
Thursday, 10 December 2009, 4.32 pm CCT

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Property prices in Chinese cities rose at the fastest pace in 16 months in November, the government said on Thursday, amid growing concerns about bubbles building in real estate.

Property prices in 70 medium and large cities rose 5.7% in November from a year ago, the biggest jump since July 2008, figures from the National Bureau of Statistics showed.

It was the 6th successive year-on-year increase, snapping a months-long slump dating from December last year when the government attempted to rein in runaway prices and as the global economic crisis kicked in.

After trying to cool the market a year ago, Beijing this year responded to the economic crisis with tax breaks and other measures to prop up the property sector, which accounts for more than 20% of urban fixed investments.

But concerns are rising that bubbles are building in real estate due to rampant speculation. The house price-to-income ratio - the ratio of the median market home price and the median annual household income - is expected to hit 8.3 in China this year, the Chinese Academy of Social Sciences said in a report on Monday. A rational range is between three and 6, the think tank said.

In response to mounting public complaints about excessively high house prices, the government said this week it would curb speculative home purchases next year - possibly by restricting bank loans to the sector.

HP65

10-12-09, 22:05

China Curbs Property Speculators, Boosts Consumption (Update1)
By Bloomberg News

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Dec. 10 (Bloomberg) -- China scrapped a tax break on property sales and extended subsidies for auto and home appliance purchases, seeking to cool speculation while sustaining a recovery in the world’s third-largest economy.
The State Council will re-impose a sales tax on homes sold within five years after cutting the period to two years in January, the cabinet said in a statement yesterday. The government will scale back some tax breaks for car buyers, while continuing to fund vehicle purchases in rural areas.
China’s property prices rose in November at the fastest pace in 16 months, a government survey showed today, reinforcing concern that record lending and a $586 billion stimulus package may lead to asset bubbles. The benchmark Shanghai Composite Index closed 0.5 percent higher as households-goods makers and some auto stocks gained. Property companies fell.
“The government is clearly in a dilemma,” said Clement Luk (http://search.bloomberg.com/search?q=Clement%0ALuk&site=wnews&client=wnews&proxystylesheet=wnews&output=xml_no_dtd&ie=UTF-8&oe=UTF-8&filter=p&getfields=wnnis&sort=date:D:S:d1), a Shanghai-based analyst at Centaline Property Agency Ltd. It “wants to address the surging property prices and concerns of a bubble, yet it dares not to take drastic measures for fear of hitting the market too hard.”
The government’s reversal of the tax on home sales “is much milder than the market had expected,” he said.
China Vanke Co., the nation’s biggest property developer by market value, fell 1 percent (http://www.bloomberg.com/apps/quote?ticker=000002%3ACH) in Shenzhen. Hisense Electric Co., a manufacturer of flat-panel televisions, advanced 5.8 percent to a record.
Difficulties, Challenges
The nation’s economic growth (http://www.bloomberg.com/apps/quote?ticker=CNGDPYOY%3AIND) accelerated to 8.9 percent in the third quarter, helping Asia to lead the recovery from the global economic slump.
China’s economy faces difficulties and challenges next year, the State Council, China’s cabinet, said yesterday. The nation needs to keep expanding consumption to drive growth, it said.
“The government is refining its policy to promote domestic consumption,” Jun Ma (http://search.bloomberg.com/search?q=Jun+Ma&site=wnews&client=wnews&proxystylesheet=wnews&output=xml_no_dtd&ie=UTF-8&oe=UTF-8&filter=p&getfields=wnnis&sort=date:D:S:d1), Deutsche Bank AG’s Hong Kong-based Chief Economist for Greater China, said in a phone interview. “The reinstatement of the property tax period to five years is an early signal that the government is concerned about speculative demand in the property market.”
China announced plans to reduce the real-estate sales tax and extend preferential lending rates for buyers of second homes in December 2008. Prices (http://www.bloomberg.com/apps/quote?ticker=CNHPHOUY%3AIND) in 70 major Chinese cities fell for the first time on record that same month and didn’t post an increase until June this year, according to government data.
Prices Rise
Prices rose 5.7 percent in November after gaining 3.9 percent in October, the National Bureau of Statistics said today on its Web site.
Premier Wen Jiabao (http://search.bloomberg.com/search?q=Wen+Jiabao&site=wnews&client=wnews&proxystylesheet=wnews&output=xml_no_dtd&ie=UTF-8&oe=UTF-8&filter=p&getfields=wnnis&sort=date:D:S:d1) said Nov. 28 in Shanghai that the government will support the development of affordable housing for low- and middle-income earners, the official Xinhua News Agency reported. Property speculation must also be suppressed to promote a healthy real-estate industry, Xinhua cited Wen as saying.
“The Chinese central government wants to gradually control the bubble in the real estate market,” Andy Xie (http://search.bloomberg.com/search?q=Andy+Xie&site=wnews&client=wnews&proxystylesheet=wnews&output=xml_no_dtd&ie=UTF-8&oe=UTF-8&filter=p&getfields=wnnis&sort=date:D:S:d1), former Morgan Stanley chief Asian economist, said by phone. “At the same time, the government does not want to see a sharp fall in property prices after a rapid rise since the sector plays an important role in the country’s economy.”
The government will also scale back preferential tax rates offered for purchases of vehicles with engines of 1.6 liters or smaller, according to the statement.
Carmakers Gain
Chongqing Changan Automobile Co. rose 2 percent (http://www.bloomberg.com/apps/quote?ticker=000625%3ACH) in Shenzhen and Tianjin FAW Xiali Automobile Co. added 1.6 percent.
China in January cut the sales tax on the vehicles to 5 percent from 10 percent between Jan. 20 and Dec. 31. It introduced the incentive to revive demand after auto sales rose at the slowest pace in a decade last year. The rate will be 7.5 percent next year, the statement said.
Government support helped fuel a 42 percent jump in nationwide vehicle sales to 12.2 million in the year through November, putting China on course to surpass the U.S. as the world’s largest auto market. China’s full-year auto sales may be about 13 million, according to Booz & Co., which advises carmakers and investors in China.
China will also pick five cities for trials of subsidies designed to encourage individuals to buy alternative energy and energy efficient cars, the State Council said. The government will increase automobile trade-in subsidies to between 5,000 yuan and 18,000 yuan, according to the statement.
Auto Subsidies
China will extend subsidies for purchases of automobiles, appliances and farming equipment in rural areas, according to the statement, which didn’t give a time frame for the program. China will continue appliance trade-in subsidies beyond May 2010, when they had been set to expire. Subsidies for motorcycle purchases will be extended to the end of January 2013, the State Council said.
Yesterday’s announcement came after the central government held its annual economic work meeting to plan policies for the coming year. The government said it will add flexibility to some monetary economic policies next year and rein in new investment projects after the conclusion of the meetings on Dec. 7

For Related News and Information: Stories about China’s real estate market: TNI CHINA REL BN <GO>

Last Updated: December 10, 2009 03:21 EST

Reporter

11-12-09, 10:39

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China scraps tax break on property sales
It will extend subsidies for purchases of cars, home appliances
The Business Times
Friday, 11 December 2009

China scrapped a tax break on property sales and extended subsidies for car and home appliance purchases, seeking to cool speculation while sustaining a recovery in the world’s third largest economy.

The State Council will re-impose a sales täx on homes sold within 5 years after cutting the period to 2 years in January, the Cabinet said in a statement on Wednesday. The government will scale back some tax breaks for car buyers, while continuing to fund vehicle purchases in rural areas.

China’s property prices rose in November at the fastest pace in 16 months, a government survey showed yesterday, reinforcing concern that record lending and a US$586 billion stimulus package may lead to asset bubbles.

The nation’s economic growth accelerated to 8.9% in the third quarter, helping Asia to lead the recovery from the global economic slump.

‘The government is clearly in a dilemma,’ said Clement Luk, a Shanghai- based analyst at Centaline Property Agency Ltd. It ‘wants to address the surging property prices and concerns of a bubble, yet it dares not to take drastic measures for fear of hitting the market too hard’.

The government’s reversal of the tax on home sales ‘is much milder than the market had expected’, he said.

China’s economy faces difficulties and challenges next year, the State Council, China’s Cabinet, said yesterday. The nation needs to keep expanding consumption to drive growth, it said.

‘The government is refining its policy to promote domestic consumption,’ Jun Ma, Deutsche Bank AG’s Hong Kong-based chief economist for Greater China, said in a phone interview.

‘The reinstatement of the property tax period to 5 years is an early signal that the government is concerned about speculative demand in the property market.’

China announced plans to reduce the real estate sales tax and extend preferential lending rates for buyers of second homes in December 2008. Prices in 70 major Chinese cities fell for the first time on record that same month and did not post an increase until June this year, according to government data.

Prices rose 5.7 per cent in November after gaining 3.9% in October, the National Bureau of Statistics said yesterday on its website.

Premier Wen Jiabao said on Nov 28 in Shanghai that the government will support the development of affordable housing for low and middle-income earners, the official Xinhua News Agency reported. Property speculation must also be suppressed to promote a healthy real estate industry, Xinhua cited Mr Wen as saying.

‘The Chinese central government wants to gradually control the bubble in the real estate market,’ Andy Xie, former Morgan Stanley chief Asian economist, said by phone.

‘At the same time, the government does not want to see a sharp fall in property prices after a rapid rise since the sector plays an important role in the country’s economy.’

The government will also scale back preferential tax rates offered for purchases of vehicles with engines of 1.6 litres or smaller, according to the statement.

China in January cut the sales tax on the vehicles to 5% from 10% between Jan 20 and Dec 31. It introduced the incentive to revive demand after car sales rose at the slowest pace in a decade last year. The rate will be 7.5% next year, the statement said.

Government support helped fuel a 42 per cent jump in nationwide vehicle sales to 12.2 million in the year till November, putting China on course to surpass the US as the world’s largest car market.

Reporter

11-12-09, 10:47

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Americans' net worth up for 2nd straight quarter
Daniel Wagner and Dave Carpenter
Associated Press
Washington, D.C., U.S.
Friday, 11 December 2009, 5.31 am U.S. EST

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In this Friday, Nov. 27, 2009 file photo, shoppers look at TomTom GPS devices at a Target store in Mayfield Heights, Ohio. Americans got wealthier for a second straight quarter in the fall, as the economic recovery again boosted home values and investments. - Photo: Amy Sancetta, AP

Inch by inch, Americans are recovering some of their vast loss of wealth from the recession, thanks to gains in stock investments and home values.

It's likely to be a long trek.

Net worth — the value of assets such as homes, bank accounts and investments, minus debts like mortgages and credit cards — rose 5% last quarter, to $53.4 trillion, the Federal Reserve said Thursday. That was the second straight quarterly increase.

Yet even with those gains, Americans' net worth remains far below its revised peak of $64.5 trillion reached before the recession began. That underscores the vast loss of wealth over the past 2 years. Net worth would need to rise an additional 21% just to return to its pre-recession height.

And many analysts don't expect a repeat of the strong 2nd- and 3rd-quarter gains any time soon. That's why Scott Hoyt, senior director of consumer economics at Moody's Economy.com, thinks household wealth won't match its pre-recession peak until about 2012.

"We're clearly moving in the right direction, although we have questions about whether we can get there as quickly as we have in the past couple of quarters," Hoyt said.

Stock investments delivered the biggest boost to net worth in the July-September period. The value of stocks jumped $1.04 trillion, or about 17% — slightly less than the previous quarter's rise.

That increase mirrored the stock market's powerful showing. The Standard & Poor's 500 index, a barometer of the market, rose 15% in the 3rd quarter. And it's surged about 60% since March.

Still, even with an additional 4% gain so far in the 4th quarter, the S&P index is still 32% off the peak of October 2007. The recession began in December 2007.

Net worth hit bottom at $48.5 trillion in the first quarter of 2009. That followed three huge quarterly declines: 5% in the 3rd quarter of 2008, 10% in the 4th quarter and 6% in the first quarter of this year.

In coming months, the gains in net worth are expected to slow, along with the broader economic recovery. Credit remains tight. And consumers still aren't spending freely.

Some analysts fear the Fed's policy of cheap lending and the weak dollar are inflating stock market performance and encouraging too much speculation. They say the gains of recent quarters aren't sustainable.

"We will eventually recover the loss in net worth, but it may take 3 to 5 years," said Mark Vitner, senior economist for Wells Fargo Securities in Charlotte, N.C.

Real estate was a smaller part of the increase in third-quarter net worth. The value of American households' real estate holdings rose 2%, or $348 billion. But analysts expect prices to dip again this winter as foreclosures spread and economic growth remains modest.

Barclays Capital economist Michelle Meyer forecasts an 8% drop in prices before they hit bottom next spring. Other analysts expect a drop of 5 to 10%.

Americans also are paying off debt at record levels, the Fed said. They reduced mortgages, credit cards and other loans by 2.6% in the 3rd quarter and have been cutting household debt levels for a year. That's a healthy sign for personal finances, but a cautionary one for economic growth: Consumers are paring their debt with money they might otherwise be spending.

Economists say they doubt the higher net worth will lead many consumers to spend more, thereby invigorating the economic recovery.

"The psychological effects of the big declines are so fresh that people are still scared — they don't have faith in the wealth," Hoyt said. "And much of the gains are from stock increases. How many consumers are confident enough that those gains are real and not going to evaporate next week that they're going to go out and spend more?"

Even though stocks remain far below their pre-recession levels, employees who have stayed invested in 401(k) plans and continued to contribute have fared better: Major 401(k) providers say nearly 60% of such participants now have more money in their accounts than before the market decline.

A higher net worth has made Michael Robinson a lot more hopeful than when the recession began — enough to start spending a bit more freely and to plow some of his pay back into the stock market. His investment accounts grew about 10% in the 2nd and 3rd quarters.

"I feel more optimistic," said Robinson, 64, a professor of business and economics at Saint Mary's College in Notre Dame, Ind., who hopes to retire in about two years. "I was really worried if I was going to retire when the market was down 50%."

Alan Hull of Canton, Mich., doesn't feel any richer. His 401(k) account has recovered some. But his other investments have a long way to go.
"To say that we are wealthier — that's kind of a misnomer," said Hull, 56, who works in information technology for Ford Motor Co. "But I'm starting to see the light at the end of the tunnel, and I don't feel like it's an oncoming train."

proud owner

11-12-09, 10:52

Reporter

11-12-09, 11:02

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Advanced economies should keep rates low: IMF
Agence France-Presse
New York, New York, U.S.
Thursday, 10 December 2009, 4.50 pm U.S. EST

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Advanced economies should maintain loose monetary policies and extra-low interest rates for 'some time' to ensure a global economic recovery stays on track, said John Lipsky, deputy managing director of the International Monetary Fund, pictured in October 2009. - Photo: Bulent Kilic, AFP

Advanced economies should maintain loose monetary policies and extra-low interest rates for "some time" to ensure a global economic recovery stays on track, a top IMF official said Thursday.

"With generalized inflationary pressures absent in most advanced economies at this time, monetary policy most likely can remain accommodative for some time, especially in many advanced economies," said John Lipsky, deputy managing director of the International Monetary Fund.

Speaking to the Japan Society in New York, Lipsky reiterated that the IMF wants member nations to continue stimulus efforts as long as necessary, warning that the recovery remained "tentative" in many places and "the upturn is still vulnerable to new shocks."

Still, he again called on governments to prepare "exit strategies," notably on budget policy.

"Monetary policy typically can adapt more readily than discretionary budget policy to changing circumstances," he said, according to the text of his speech.

Lipsky's comments came as central banks of the 3 global economic powers hold rates at extremely low levels -- essentially Ö% in the United States and Japan and 1.0% in the eurozone -- and show no intention of tightening credit anytime soon.

To restore strong, sustainable global growth, the senior IMF official recalled, the institution proposes an increase in domestic demand in Asian emerging economies, such as China, while deficit countries would need to "contribute importantly" to the rebalancing process.

"In these countries, including the United States, fiscal consolidation is imperative," he said as the US budget deficit is forecast to hit a record above US$1.5 trillion for the current fiscal year, according to official US data.

Lipsky stressed that exchange-rate policy imbalances pose a major challenge to balanced economic growth.

"Based on our analysis, many Asian countries' currencies are undervalued relative to their major trading partners when viewed in the context of medium-term, multilateral equilibrium values," he said.

"As long as this condition persists, balanced global growth will be difficult to achieve. While these policies should be analyzed in a broad context, it seems inevitable that increased currency flexibility in many Asian countries, including China, will form part of the rebalancing effort."

Reporter

11-12-09, 11:17

am i blind or did they not mention how much is the sales tax ... ??
I think sales tax is unchanged at 5% of net gains.

Previously, property which has been owner-occupied for 5 years prior to the sale is exempt. Now, instead of 5 years, it is 2 years.

proud owner

11-12-09, 11:20

I think sales tax is unchanged at 5% of net gains.

Previously, property which has been owner-occupied for 5 years prior to the sale is exempt. Now, instead of 5 years, it is 2 years.

hhhmm 5 pct is so half hearted effort ... it probably wouldnt deter any speculators

any idea what is property agent's comm in China ?

Reporter

11-12-09, 11:35

hhhmm 5 pct is so half hearted effort ... it probably wouldnt deter any speculators

any idea what is property agent's comm in China ?
There is already a sales tax in place. This sales tax is not something new. I do not believe they are changing it.
(I think it is 5%. I may be wrong. Someone please correct me.)

What is changed is the exempt period for owner-occupied property. (Last time 5 years, now 2 years.)

Maybe China is trying to expand consumption to drive growth and to promote domestic consumption. Maybe that's why the market says its reversal of the tax on home sales ‘is much milder than the market had expected’.

Reporter

11-12-09, 15:21

http://www.avmaroc.com/images/actualite/thumbs/aid-149162_0.jpg
Consumer prices rÏse and industrial output Üp as China powers out of crisis
Allison Jackson
Agence France-Presse
Beijing, China
Friday, 11 December 2009, 10.55 am CCT

http://d.yimg.com/a/p/afp/20091211/capt.photo_1260498209557-1-0.jpg
Consumer prices in China rose for the first time in nearly a year, the government said Friday. - Photo: AFP

Consumer prices in China rose for the 1st time in nearly a year and industrial production picked up pace in November, while retail sales slowed slightly, the government said Friday.

The National Bureau of Statistics said China's consumer price index, the main gauge of inflatiÖn, rose 0.6% in November from a year ago, taking the Asian giant out of deflation after nearly a year of falling prices.

The increase was the first since January. Consumer prices likely rose last month in part because early snowstorms in northern and central China destroyed crops and disrupted transport, driving up the cost of food.

The increase also is due to government efforts to raise state-controlled prices for fuel, electricity and water to better reflect market forces.

Industrial output, which shows activity in the millions of factories and workshops around the country, expanded by 19.2% in November from a year ago, up from 16.1% in October.

Retail sales, the main measure of consumer spending, rose by 15.8% in November compared with the same month a year earlier, down slightly from the 16.2% increase posted the previous month.

The Chinese government sees consumer spending as a key factor in boosting the economy.

Fixed-asset investment in urban areas rose 32.1% in the January to November period, after growing 33.1% in the first 10 months of the year.

jlrx

11-12-09, 19:34

jlrx, I think you have failed in preaching your "propertism" again.
Did you manage to reach out to these owners who have just sold for a short-term profit?
No right? What's your action plan?

Who says I have failed in preaching "propertism"? :simmering:

I have just successfully converted 30 non-believers into "propertism". :cheers1:

Business Times - 09 Dec 2009

Jurong West landed housing site draws 32 bids

Top bid of $38.5m for popular plot comes from Kheng Leong unit Chappelis

By UMA SHANKARI

A LANDED housing site at Jurong West put up for sale by the government drew a whopping 32 bids at the close of the tender yesterday.
The top bid of $38.5 million or $254 per sq ft of land area came from Chappelis, a unit of Wee Cho Yaw's http://4.bp.blogspot.com/_JgtgLJIVBw4/Sho2cR2KrwI/AAAAAAAABoo/gLOijbfYSGA/s200/WeeChoYaw-Ref.jpg privately held Kheng Leong.

The huge interest in the 151,759 sq ft site is a stark turnaround from last year. The 99-year leasehold parcel was put up for tender in March 2008 via the government's confirmed list, but was not awarded because the two bids tendered - $11.8 million and $10.3 million - were considered too low. The top bid then worked out to just $78 psf of land area.

From only 2 believers in Mar 2008 willing to contribute a tithe of up to only $78 per sermon of faith (psf), now there are 32 devout propertism believers in Dec 2009 willing to contribute a tithe of up to $254 psf.

How can you say I have failed in preaching "propertism"? :simmering:

In fact, to test their faith, I brought them to this place called Hillcrest Villa.

http://greenmark.sg/uploads/buildings/images/26/Hillcrest%20Villa_img.JPG

I asked them "Are you sure you want to bid for landed property? Cannot rent out! Low rental!".

At first, a few of them hesitated and wanted to withdraw their bidding.

Then I showed them this picture, which made them all reach for their wallets to contribute generously ...

http://i305.photobucket.com/albums/nn211/jlrx_bucket/kim_jong-il_heart_throb2.jpg

See how happy the top bidder has become ...

http://4.bp.blogspot.com/_JgtgLJIVBw4/Sho2cR2KrwI/AAAAAAAABoo/gLOijbfYSGA/s200/WeeChoYaw-Ref.jpg

Reporter

11-12-09, 20:57

Who says I have failed in preaching "propertism"? :simmering:

I have just successfully converted 30 non-believers into "propertism". :cheers1:

From only 2 believers in Mar 2008 willing to contribute a tithe of up to only $78 per sermon of faith (psf), now there are 32 devout propertism believers in Dec 2009 willing to contribute a tithe of up to $254 psf.

How can you say I have failed in preaching "propertism"? :simmering:

In fact, to test their faith, I brought them to this place called Hillcrest Villa.

http://greenmark.sg/uploads/buildings/images/26/Hillcrest%20Villa_img.JPG

I asked them "Are you sure you want to bid for landed property? Cannot rent out! Low rental!".

At first, a few of them hesitated and wanted to withdraw their bidding.

Then I showed them this picture, which made them all reach for their wallets to contribute generously ...

http://i305.photobucket.com/albums/nn211/jlrx_bucket/kim_jong-il_heart_throb2.jpg

See how happy the top bidder has become ...

http://4.bp.blogspot.com/_JgtgLJIVBw4/Sho2cR2KrwI/AAAAAAAABoo/gLOijbfYSGA/s200/WeeChoYaw-Ref.jpg
OK OK.
Now let's see if you can convert Fiona Chan from The Straits Times?
Hee hee!
Difficult right?

Reporter

11-12-09, 21:12

http://www.straitstimes.com/STI/STIMEDIA/common/mast_home.gif
InflatiÖn could hit 4%
Fiona Chan
The Straits Times
Friday, 11 December 2009, 8.13 pm

http://www.straitstimes.com/STI/STIMEDIA/image/20091211/inflation-johnheng.jpg
Inflation could hit a high of 4% in the next 6 months on account of the surge in asset prices here, according to a new report by HSBC. - Photo: John Heng, ST

InflatiÖn could hit a high of 4% in the next 6 months on account of the sürge in ässet prïces here, according to a new report by HSBC.

It said investors feeling rich from the stock market rally are likely to spend more, raising demand - and prices - for goods and services.

At the same time, a continued increase in pröperty prices will also lead directly to a rise in inflation.

This will help boost the consumer price index - the key indicator of inflation here - next year, said HSBC economist Robert Prior-Wandesforde.

He has raised his inflation forecast for next year to 2.9% from 2.5% previously, with inflation expected to peak at about 4% probably in the second quarter of next year.

Investors who have directly made money from shares will naturally spend more, helping fuel inflation, but even people who do not buy shares will feel the 'confidence effects', said Mr Prior-Wandesforde.

jlrx

11-12-09, 22:23

OK OK.
Now let's see if you can convert Fiona Chan from The Straits Times?
Hee hee!
Difficult right?

Fiona Chan doesn't need me to convert her.

Her employer will convert her.

http://www.businesstimes.com.sg/mnt/media/image/launched/2009-12-08/BT__krinvest08.jpg

http://www.straitstimes.com/STI/STIMEDIA/common/mast_home.gif
InflatiÖn could hit 4%
Fiona Chan
The Straits Times
Friday, 11 December 2009, 8.13 pm

How come nowadays your posts got so many Mickey Mouses?

Ö

Is it to celebrate the arrival of Mickeymousation?

http://www.thisdayindisneyhistory.com/files/MouseSilhouette.jpg

bebesg

13-12-09, 13:17

i think market sentiments in the property market is slightly bullish rite now (unlucky for me as i am a potential buyer), however i do not think that this is sustainable... currently in a standoff with a seller with my offer slightly below valuation .. owner asking cov ..

what are your views?

You sell high you buy high but if you got no house now, to buy one is at your own risk. Anything go up must also come down.
Iam also a buyer and eyeing for Floravale. In Aug last year the price was $600K and now $880. So only a crazy fellow will buy.

jwong71

13-12-09, 20:59

You sell high you buy high but if you got no house now, to buy one is at your own risk. Anything go up must also come down.
Iam also a buyer and eyeing for Floravale. In Aug last year the price was $600K and now $880. So only a crazy fellow will buy.

But the seller,once sell high. He got to pay more again for same location of similar unit, with all stamp duty and misc documents admins charges.

So if u think buyer crazy to buy high.
What abt seller who need to buy higher too in the end, unless he got more than 1 house.
Or he just downgrading to HDB/smaller unit/or ulu location.

Condorich

14-12-09, 08:45

Just some thoughts

Types of buyer/seller

1. New Home owners - Got no choice, price high also have to buy. Carrots!
2. Upgrading/Downgrading/Switching - Not much difference, buy high sell high, sell high buy high and moving between towns (for personal reasons such as schooling, near parents etc).
3. New Homeless - Migrating, staying with parents, moving to rental, bankruptcy etc.

The worst off group is the new home owners who have to stomach a fall should price correct. They may survive till the other peak if and only if they have holding power. Good Luck!

jwong71

14-12-09, 09:15

Reporter

14-12-09, 10:59

Fiona Chan doesn't need me to convert her.

Her employer will convert her.

..........
..........
I think you are right. Her employer must has convertered her.

She is a true believer now, judging from the 3 points in her article
"property market to continue to strengthen
private home prices to rise an average of 2% to 3% for each quarter next year":

1. A jump in transactions often leads to a sürge in housing prices.

2. A narrow price gap usually means that more HDB dwellers will üpgrade to private housing.

3. A concerns of an oversupply are överblown. The 34,100 figure of unsold units in the 3rd quarter of this year is much lower than the 43,400 in the 4th quarter of last year, and not far from the all-time löw of 30,300 in 2007.

Dec 12, 2009

Surge in asset prices to fuel inflation: HSBC

Rate could hit 4% next half-year as spending and home prices climb

By Fiona Chan

..........
..........

HSBC also expects the property market to continue to strengthen. Interest rates are still low, banks are still prepared to lend and households are not saddled with a lot of debt, which means borrowing to buy a home should be relatively cheap and easy.

Also, the huge number of property deals between March and September this year augurs well for prices, said Mr Prior- Wandesforde. According to his data, a jump in transactions often leads to a surge in housing prices.

The price gap between HDB flats and private homes is also close to the narrowest it has been since the 1990s, before which data is not available.

A narrow price gap usually means that more HDB dwellers will upgrade to private housing, Mr Prior-Wandesforde said.

He believes concerns of an oversupply are overblown. The 34,100 figure of unsold units in the third quarter of this year is much lower than the 43,400 in the 4th quarter of last year, and not far from the all-time low of 30,300 in 2007, he said.

All this means that Mr Prior-Wandesforde expects private home prices to rise an average of 2% to 3% for each quarter next year.

Reporter

14-12-09, 12:02

http://www.straitstimes.com/STI/STIMEDIA/common/mast_home.gif
Flat prices wÏll rÏsË but still be affordable
Zakir Hussain
Political Correspondent
The Straits Times
Monday, 14 December 2009

http://www.asiaone.com/a1media/business/12Dec09/images/20091214.091505_dec1409_duxton350.jpg
MM Lee Kuan Yew with National Development Minister Mah Bow Tan (centre) on the skybridge of The Pinnacle@Duxton. - Photo: Lau Fook Kong, ST

Singaporeans can expect the prices of HDB flats to këëp ön rïsïng as long as the economy continues to grow, Minister Mentor Lee Kuan Yew said yesterday.

However, he assured young couples that the Government will help them to own their first flats.

The Housing Board will also keep building affordable homes ’so that each generation of Singaporeans will continue to have a stake in the nation’, he added.

Mr Lee gave the assurance when he visited the newly-completed crown jewel of Singapore’s public housing, which he said is symbolic of the spectacular transformation of the country.

The Pinnacle@Duxton, rising 50 storeys high, stands on a plot that was occupied by the first rental blocks in Tanjong Pagar constituency, of which Mr Lee has been the MP for 54 years.

Yesterday, he recalled how he used the two Duxton Plain blocks then under construction in his 1963 election campaign, when the leftists were determined to win his seat.

‘I said: ‘If you vote for me, these will be completed and will be yours’. If not, the Barisan Sosialis will win and you will have a bleak future.’

Such blocks were built in the 1960s as a quick fix for Singapore’s rapidly-growing population who were ‘living in overcrowded shophouses or squatter huts’.

‘People were poor and life was hard. No running water, no modern toilets, no expectation of a better future,’ said Mr Lee in a speech that traced the ‘breathtaking’ transformation of Singapore’s housing landscape since the 1960s.

Later, he told reporters that the direction of HDB home prices depends on the people.

If they have confidence in the country and support the Government, then prices ‘müst gö üp’ as they have every year since 1965, he said, in response to reporters asking what he would say to young couples lamenting the sharp price increases in recent years.

The alternative, MM Lee said, is grim.

‘They’ve got to decide if the country is going to go up or go down. If the country is going to go down, then the economy will go down, people’s incomes will be down, unemployment will be up and property values will go down.’

In the last 45 years, HDB home prices have soared. For instance, a 3-room flat in Queenstown in 1964 cost $6,200, but would fetch at least $200,000 today.

However, much of the increase in prices has taken place in the past few years.

In his speech, Mr Lee also dwelt on the many benefits of a home-owning society, which had its roots in the policy introduced in 1964.

It gave a community of immigrants a sense of rootedness in Singapore, he said, adding: ‘It is the foundation upon which nationhood was forged.’

Owning their homes also gives people a pride that is critical in preventing housing estates ‘from turning into slums, which is often the fate of public housing estates in other countries’, he said.

But the key advantage is that the policy gives people ‘a tangible stake in worth’ and motivates them to work hard.

‘If Singapore prospers, their flat values wïll äpprëcïätë and they share in the growth,’ he said.

He added: ‘If all the 900,000 HDB flats built over the past 50 years were rental flats… We would not have the stability, progress and prosperity that a stake in home ownership of a growing asset has made possible.’

As assets, HDB homes have become more valuable partly because their prices have moved in tandem with the economy, thus allowing citizens to share in the fruits of growth, said Mr Lee.

This can be seen in the high demand for the flats at the Pinnacle@Duxton, he said.

It has 1,848 flats. At the first launch in 2004, its four-room flats cost an average $335,000 and the five-room flats, 395,000. This year, the HDB priced these same-sized flats at an average of $486,000 and $590,000 respectively.

Mr Lee described the building of the Pinnacle as ‘a strong testament to our tenacity and capabilities as a people’.

‘I see more and more of these old blocks being demolished, and new blocks like the Pinnacle being built,’ he added.

http://www.straitstimes.com/STI/STIMEDIA/image/20091213/zamm14.jpg
MM Lee assured young couples that the Government will help them to own their first flats. -- Photo: Francis Ong, ST

‘We could easily have sold (the Duxton plot) and then a condominium would have stood in its place.

‘But it would not have the same effect because here, we have kept the HDB residents in place, so we are sharing the growth of the city with the people who are of that class who built the city. We could have maximised the value by selling it off, and then a condo would have been built. We didn’t do that.’

- MM Lee on the Pinnacle@Duxton’s special location in the city centre.

jlrx

14-12-09, 12:33

I think you are right. Her employer must has convertered her.

She is a true believer now, judging from the 3 points in her article
"property market to continue to strengthen
private home prices to rise an average of 2% to 3% for each quarter next year"

Or could it be that she has seen the apparition a Saint appearing on top of a Pinnacle?

http://letterstoadyingdream.files.wordpress.com/2008/09/kim_jong-il_heart_throb1.jpg

If they have confidence in the country and support the Government, then prices ‘müst gö üp’ as they have every year since 1965, he said, in response to reporters asking what he would say to young couples lamenting the sharp price increases in recent years.

andy

14-12-09, 12:37

In the last 45 years, HDB home prices have soared. For instance, a 3-room flat in Queenstown in 1964 cost $6,200, but would fetch at least $200,000 today.

However, much of the increase in prices has taken place in the past few years.

Why has prices increase taken place only in the last few years?

Is there is a likelihood prices will stay dormant for the next 10 years around this level or does anyone foresee a upward swing cycle like in 1996 followed by a depressed period.., thus ending up where we are now.

Reporter

14-12-09, 12:49

..........
..........

How come nowadays your posts got so many Mickey Mouses?
Ö
Is it to celebrate the arrival of Mickeymousation?
http://www.thisdayindisneyhistory.com/files/MouseSilhouette.jpg
I celebrate Mickeymousation with Ö?
I dunno man. I seldom mention MMs in my posts.

Wait ... unless ... it is my subconscious that has been influenced by MM lately.
Wah! Is MM so influential and powerful?

"Singaporeans can expect the prices of HDB flats to këëp ön rïsïng as long as the economy continues to grow, Minister Mentor Lee Kuan Yew said yesterday."

Reporter

14-12-09, 13:15

Or could it be that she has ..........

If they have confidence in the country and süppört the Government, then prices ‘müst gö üp’ as they have every year since 1965, he said, in response to reporters asking what he would say to young couples lamenting the sharp price increases in recent years.
Wait a minute!
This article is written by a Political Correspondent - not a Property Correspondent.

Err ... are you implying Fiona Chan has joined her colleague Zakir Hussain, the political correspondent, in süppörting the ...?

Err ... are you implying that süppörting the prices ‘müst gö üp’ is politics?

jlrx

15-12-09, 02:34

Err ... are you implying that süppörting the prices ‘müst gö üp’ is politics?

Read MM's statement carefully ...

"If they have confidence in the country and support the Government, then prices ‘must go up’"

In other words, if you do not want prices to go up, that means you:

1. Have no confidence in the country.

2. Do not support the Government.

Antz621

15-12-09, 06:22

Read MM's statement carefully ...

"If they have confidence in the country and support the Government, then prices ‘must go up’"

It means the GE is coming.

It means you all better know how to "cho lang"

Only then can your property value be assured of appreciation.

Although lift upgrading is no longer the dangling carrot, the way the game is being played remains very much the same - It's still the carrot that matters! :D

azeoprop

15-12-09, 10:43

It means the GE is coming.

It means you all better know how to "cho lang"

Only then can your property value be assured of appreciation.

Although lift upgrading is no longer the dangling carrot, the way the game is being played remains very much the same - It's still the carrot that matters! :D

Free upgrade to condo for everyone who vote for pap....:rolleyes:

Reporter

15-12-09, 12:51

http://www.asiaone.com/a1media/site/common/top_a1_home.gif
Singapore employment up
AsiaOne
Tuesday, 15 December 2009

Total employment for the 3rd quarter of 2009 grew by 14,000, offsetting the losses of 6,200 and 7,700 in the 1st and 2nd quarters of the year respectively.

This increase resulted in the total employment in September 2009 recovering to around Dec 2008 level.

Services and manufacturing continued to expand at a higher rate - 12,700 and 7,400 respectively - than previous quarters. Manufacturing continued its 4th consecutive quarter of decline, albeit at a lower rate (-6,400) than the 1st 2 quarters of the year.

Meanwhile, the unemployment figure rose slightly to a seasonally adjusted 3.4% in the 3rd quarter of 2009, from 3.3% in June 2009, but below the peak of 4.8% in September 2003 due to the SARS outbreak.

However, among the resident labour force, the rate increased to 5% in June 2009. Long term unemployment has also risen, with the number of job seekers looking for a job for over 25 weeks almost doubling from 9,600 in September 08 to 18,400 in September 09.

Re-employment rose as well, with over half of residents retrenched in the 2nd quarter of the year re-employed by September 2009.

Job vacancies also rose 34,900 in September 09, up 42% from June 09.

stalingrad

15-12-09, 15:46

Dec 15, 2009

Private home sales slow

By Joyce Teo, Property Correspondent

http://www.straitstimes.com/STI/STIMEDIA/image/20090625/22-EYEB.jpg Home transactions have declined since peaking in July. -- PHOTO: EYEB

PRIVATE home sales slowed for a fourth straight month in November.
Developers sold 600 new units in November - down from 811 units in October and 1,143 units in September, according to data released by the Urban Redevelopment Authority on Tuesday.
But developers launched 923 units last month, more than the 566 units in October. Experts have said that the market is just taking a breather, following months of hectic sales around the middle of the year, which peaked at 10,000 units in July.
The increase prompted the government to announce that it will sell more land sites and ban interest-only mortgages for uncompleted homes as part of measures to prevent excessive price swings. The top-seller last month was Parvis in Holland Hill. Ho Bee launched 130 units in the condo project and sold 103 of them at a median price of $1,507 per sq ft.
Home prices rose 15.8 per cent in the third quarter, the first increase in more than a year and the biggest quarter-on- quarter gain in 28 years, the URA said last month. URA is expected to release its preliminary estimate for fourth-quarter prices on Jan 4.
The top-seller last month was Parvis in Holland Hill. Ho Bee launched 130 units in the condo project and sold 103 of them at a median price of $1,507 per sq ft. Marina Bay Suites also sold 87 units last month at an average price of S$2,159 a square foot.

Reporter

16-12-09, 22:23

http://blogs.freshminds.co.uk/talent/wp-content/uploads/2009/07/bloomberg_logo.jpg
DBS CEÖ Gupta says bank will do a löt of hiring next year
Bloomberg
Singapore
Wednesday, 16 December 2009, 5.58pm CCT

DBS Group Holdings Chief Executive Officer Piyush Gupta said the Singapore-based bank will do a lot of hiring next year and that demand for personnel is beginning to pick up. Gupta was speaking at an industry event in Singapore today.

Reporter

16-12-09, 22:26

http://blogs.freshminds.co.uk/talent/wp-content/uploads/2009/07/bloomberg_logo.jpg
ANZ plans to döuble headcount in Singapore to 1,5ÖÖ next year
Bloomberg
Singapore
Wednesday, 16 December 2009, 6.01pm CCT

Australia & New Zealand Banking Group plans to double its headcount in Singapore to 1,5ØØ next year, Bill Foo, the head of the bank’s business in the city- state, said at an industry event today.

Reporter

16-12-09, 22:48

http://sg.yimg.com/i/sg/providers/cnalogo4.gif
Industry leaders büllïsh over hïrïng outlook for fïnäncë sector
Ryan Huang
Channel NewsAsia
Wednesday, 16 December 2009, 2138 hrs

http://www.channelnewsasia.com/imagegallery/store/phpE3aq3d.jpg
Office workers are seen during a lunch break at the financial district in Singapore.

Industry leaders said the fïnäncë sector is expected to ïncrëäsë hïrïng next year.

Speaking at an industry forum on Wednesday, they said with the economy rëcÖvërïng, more companies are expected to list or issue bonds. This will lead to more banking services and increased demand for talent, especially in capital markets.

The Financial Training Institute at SMU said there have already been more enquiries from the industry for training in areas such as capital markets. SMU is rolling out more than 30 programmes next year, of which 17 are new.

Professor Annie Koh, Dean, Office of Executive & Professional Education, SMU, said: "Definitely we are going to see demand for banking services, transactions, and consumer banking services and wealth management services.

"Therefore you need to have the back-end and middle-market trained to prepare for that front-end movement."

Overall, industry growth in the region will also be driven by rising äfflüëncë in Asia.

To develop and retain talent, forum participants said banks are increasingly looking at moving people between departments to grow their skills. These include transfers between various operations within the company such as back, front and middle office operations.

Piyush Gupta, CEO, DBS Bank, said: "I find that companies where people are given the opportunity to have lateral mobility, create a lot of talent, and create people who are extremely well-rounded.

"In my previous company, you could move wherever you wanted to as long as you put your hand up and say 'I want to move', people encourage you to move. And frankly in my current company, that is something that I hope to be able to institute."

The finance sector contributes 13% of Singapore's GDP and hires 5% of the local workforce.

jlrx

17-12-09, 03:25

Reporter

17-12-09, 12:40

http://blogs.freshminds.co.uk/talent/wp-content/uploads/2009/07/bloomberg_logo.jpg
Singapore exports rÏsË for first time in 19 mÖnths in November
Bloomberg
Singapore
Thursday, 17 December 2009, 1.26pm CCT

http://as.wn.com/i/15/78e0f44a6c0b17.jpg

Singapore’s exports rose for the first time in 19 months in November as a recovery in the global economy boosted demand for pharmaceuticals and reduced a slump in electronics sales.

Non-oil domestic exports climbed 8.7% from a year earlier, after a revised 6.2% contraction in October, the trade promotion agency said in a statement today. The median forecast of eight economists surveyed by Bloomberg News was for a 2.2% gain.

Singapore, whose economy expanded in the six months through September after a yearlong contraction, is dependent on a revival in overseas sales to sustain its recovery. The government said last month it doesn’t expect a return to recessionary conditions even as the outlook for the second half of 2010 remains uncertain.

Export growth “will likely accelerate in the coming months as external demand gradually recovers,” said Mitul Kotecha, Hong Kong-based head of global foreign-exchange strategy at Calyon, the investment banking unit of France’s Credit Agricole SA. “However, we do not expect to see a large sequential improvement in the fourth quarter and 2010 on the back of fragile growth in major developed countries.”

A rebound in industrial production has helped Singapore emerge from its worst recession since independence in 1965. The government last month raised its 2009 forecast for exports, predicting shipments may drop 10% to 11%, less than the previous estimate for a decline of as much as 12%.

Exports may increase 10.1% next year after sliding 12% in 2009, according to the median forecast in a quarterly survey of economists by the Monetary Authority of Singapore released last week.

Electronics Fall

Singapore’s non-oil exports rose a seasonally adjusted 19.8% last month from October, when they slid a revised 12.7%, today’s report showed.

Electronics shipments dropped 6.1% in November from a year earlier to $4.6 billion, after a 13.8% decline in October.

Non-electronics shipments, which include petrochemicals and pharmaceuticals, rose 19% in November after declining a revised 0.6% in October. Pharmaceutical shipments gained 78%.

The performance of Singapore’s pharmaceutical industry is volatile as production swings by companies such as Sanofi- Aventis SA can cause industrial output to fluctuate from month to month. Drug companies sometimes shut plants for cleaning before making different products.

Reporter

17-12-09, 12:52

http://www.sph.com.sg/images/logo_mypaper.png
Asia will lead recovery in 2010
Suresh Menon
我报
Thursday, 17 December 2009

Unprecedentedly aggressive fiscal and monetary stimulus measures mean the developing world will recover quickly compared to the rest, according to a report.

China and India will once again be the world's fastest growing major economies.

The cyclical economic upswing in the developed world will continue into the early part of next year, and downside risks will need to be tackled delicately, according to the report by the Economist Intelligence Unit (EIU).

The governments will, however, have to do a balancing act.

Fiscal discipline will have to be maintained even as the withdrawal of stimulus measures starts to slow the recovery.

The EIU report said the Middle East and Africa will be the best-performing regions of the world, thanks to increased oil production and investment in infrastructure.

"Although we maintain that the crisis has already inflicted its deepest wounds, its impact will continue to be felt throughout next year. Moreover, downside risks to economic stability still abound," the EIU report said.

New asset bubbles could follow monetary easing and countries with heavy borrowings will face deflationary pressures.

Compounding the economic woes will be social and political unrest due to unemployment, when governments take austerity measures.

Yesterday, a Chinese survey said an increasing number of Chinese residents are unhappy about inflation. Nearly half of them said overall prices are "too high and unacceptable", according to a quarterly survey by the People's Bank of China.

Rising public discontent over inflation could put more pressure on Beijing to consider tightening monetary policy more quickly than is currently expected, even though the official measure of consumer prices turned mildly positive only recently.

China's consumer prices rose 0.6% last month over a year earlier after nine straight months of declines.

World GDP growth will rise to 3.2% next year, compared with a contraction of 1.2% this year, the EIU report predicts.

The EIU's crystal ball also says Qatar will be the world's fastest-growing economy for the 2nd consecutive year as 3 new liquefied natural gas "super trains" come on stream.

Meanwhile, Japan will be overtaken by China as the world's 2nd-largest economy.

As for political predictions, the report says Yemen risks disintegration, as the government struggles to cope with the threats posed by rebels in the north, a secessionist push in the south and the presence of Al-Qaeda.

And the recovery is not going to be across the board. The report says 12 countries will still experience economic contractions.

Nearly half of these are in eastern Europe. Together with western Europe, the region will be home to 15 of the world's 20 slowest-growing countries.

Another well-watched survey confirmed yesterday that business activity in manufacturing and services has increased across the euro zone this month at the fastest rate in two years.

The purchasing managers' index for the 16 countries using the single currency, compiled by data and research group Markit, rose to 54.2 points from 53.7 points last month, its highest reading since October 2007. However, analysts warned that despite the "encouraging" data, prospects for a spurt in growth early next year remain limited, with a "levelling off" being observed despite a favourable policy environment.

"The euro-zone economy is ending this year on a positive note, with business activity and new orders growing at their fastest rates in over two years this month," said Mr Chris Williamson, Markit's chief economist.

"Nevertheless, the euro zone still faces a challenging economic environment and there continues to be a very real risk that the upturn could falter next year."

Reporter

17-12-09, 13:22

http://www.sph.com.sg/images/logo_mypaper.png
Singaporeans to spend more next year
Dawn Tay
我报
Thursday, 17 December 2009

http://www.alleventsgroup.com/mhrcongress/images/MasterCard%20Logo.jpg

More Singaporeans plan to loosen their purse strings as the economy recovers, though prudent spending will still be on the cards for some time.

About 1 in 7 respondents in MasterCard's latest survey on consumer habits plan to spend more in the next six months up from just 3% in its previous poll six months ago, before the economy turned in the third quarter.

And the areas that they are most willing to spend on are food and entertainment; consumer electronics; and fashion and accessories.

Fewer people also said that they would tighten their belts and decrease their spending on non-essential items 30% now, down from 41%.

But, reflecting the caution which is still lingering as the economy is not yet in the pink of health, more than half of those surveyed said that they plan to maintain the same amount of spending on non-essential items into the first half of next year.

The results of the survey on 400 people here polled between Oct 1 and Nov 9 this year were released on Tuesday.

MasterCard Worldwide economic advisor (Asia-Pacific, Middle East and Africa) Yuwa Hedrick-Wong said that the latest findings are "positive for a stronger outlook of domestic consumption next year".

He said: "As global economic conditions continue to stabilise and trade starts to revive, barring any unexpected shocks to the economy, we expect private consumption to continue to grow."

Indeed, some restaurants said that they are seeing stronger demand.

Les Amis group of restaurants' spokesman, Mr Raymond Lim, said that business has picked up by around 30% between the lowest point in March this year and now.

However, he does not expect a huge jump in business during Christmas.

He said: "It has been a bad year and people are still cautious about spending. They're trying to get the greatest value for money, for example, by ordering cheaper wines. "But they will still spend as they still want to find an excuse to have a good time during this festive period."

The last few months have seen an increase in credit-card expenditure, with figures from Credit Bureau (Singapore) also pointing towards an "improving consumer confidence that the economy and job markets are in recovery phase", said its executive director, Mr William Lim.

This year, bank executive Pee Xiao Juan, 25, will not be cutting back on gifts for Christmas, like she had to do the previous year. Miss Pee said: "If I see something that I know my friends and family will love, I'll just tighten my own expenditure a little and buy it for them."

Lord Anus

17-12-09, 13:43

http://www.sph.com.sg/images/logo_mypaper.png
This year, bank executive Pee Xiao Juan, 25, will not be cutting back on gifts for Christmas, like she had to do the previous year. Miss Pee said: "If I see something that I know my friends and family will love, I'll just tighten my own expenditure a little and buy it for them."

such an unfortunate name. that's why i support hanyu pinyin spelling for singkie names. otherwise her ang mor boss at her bank will laugh until balls drop when drinking with his buddies at the British Club while making fun of Singkies.

andy

17-12-09, 13:49

Hong Kong Risks ‘Sharp Corrections’ in Asset Prices (Update3) By Sophie Leung

Dec. 17 (Bloomberg) -- Hong Kong’s central bank said the city may face “sharp corrections” in asset prices should fund flows reverse, adding to concerns voiced by Japan, China and South Korea on the dangers of speculative capital.
......
“We have a U.S. dollar carry trade at the moment,” Tsang said. “Where is the money going -- it’s where the problem’s going to be: Asia. You can see asset prices going up, not only in Korea, in Taiwan, in Singapore and in Hong Kong, going up to levels that are incompatible or inconsistent with the economic fundamentals.”

Is the party coming to an end?

Reporter

17-12-09, 18:21

For those who have any doubts about the strength of the property market, read this:
Business Times - 17 Dec 2009

Banner year for good class bungalows

Demand looks robust going into new year after the $1.6b chalked up in 11 months

By KALPANA RASHIWALA

The number of GCB deals priced at $1,000 per square foot of land area and above has also risen from zero in 2006 to nine in 2007, 12 in 2008 and 24 in 2009.
The only word to describe this is "relentless".

Sigh ... :(
Wah! Hotter than bakkwa (肉干) leh.

http://www.sph.com.sg/images/logo_shinmin.png
来临农历新年　肉干料会涨7至10%
林道生
新明日报
星期四, 17-12-2009

http://news.omy.sg/OMYMEDIA/image/News/LocalNews/200912/20091217_mabel_bagua_img_main.jpg
“林志源”老板：我们还是有自己的古老秘方肉干！（图／档案照）

由于原材料价格上涨，明年春节期间的肉干价格也会水涨船高。

业内人士反映，在接近年关时，肉干价格将会“步步高升”，至少比现在贵7%到10%。

肉干店老板受访时异口同声说，过去一两个月，肉干的主要原料猪肉的售价上涨了10％到20％，另一主要原料白糖的价格也持续上涨，刚刚又上涨了5％，50公斤庄达到56元。

目前，一些主要的肉干店，肉干售价为每公斤42元到45元。

随着经济复苏，市场一片景气，明年春节的肉干价格，极有可能突破今年春节期间的最高售价，即：每公斤50元。

来临春节将掀肉干大战

距离明年农历新年还有大约2个月，狮城肉干商已经摩拳擦掌，来临农历新年，看来会掀起一场肉干大战！

最近，供应肉干给“林志源”的肉干批发商“金裕源”，自行在桥南路开设一家“金裕源”肉干零售店，成为市场关注焦点。

“金裕源”已经开始通过手机短讯、网上的“Face Book”等途径，要求消费者订购，以便在农历新年到来之前拿货，避免排队。

“金裕源”第二代掌舵人王威达说，目前他们还是照样赶货给“林志源”，不过也积极开展自己的零售店业务，为明年春节业务进行促销。王威达以及他的合作伙伴郭进维说，他们只是会在肉干的品质、包装、服务上进行竞争，不会展开削价战。他们说，金裕源的产品包括：传统肉干、辣椒肉干、三层肉干、三种口味的肉松。

“林志源”的老板林琰喜表示，他们还是以古老的秘方生产肉干，产品包括：牛肉干、鸡肉干、虾肉干、鱼肉干、金钱肉、三层肉干等。

Reporter

17-12-09, 21:41

http://www.sph.com.sg/images/logo_st.png
Rosy salary rise projections
Rachael Chang
The Straits Times
Thursday, 17 December 2009, 10.25 pm

http://www.straitstimes.com/STI/STIMEDIA/image/20091217/money-mypaper.jpg
It is the rosiest projection among at least 4 companies that have recently given their forecasts for next year.

With the recession over, the question among workers now is how well companies will pay them next year.

On Thursday, human resource consultancy Mercer Singapore threw its hat in the ring with a forecast of a 3.2% rise in salaries.

It is the rosiest projection among at least 4 companies that have recently given their forecasts for next year.

Mercer based its projection on its survey, done in October, of 262 companies in 11 industries.

Expected to give top dollars are pharmaceutical, which plans to hand out 4.1% more, and high-tech companies, at 3.3% more. The banking and finance industry plans to give a 3.1% pay rise, a quick rebound over this year's average increment of less than 1.5%.

Only 15% of the companies intend to freeze salaries next year, compared with 35% that did so this year.

jlrx

17-12-09, 21:53

proud owner

17-12-09, 21:57

Reporter

18-12-09, 18:46

House price goes up, food price also goes up.

Then will this Gingerbread House's price also go up?

http://dontgosouth.files.wordpress.com/2009/03/hanselandgretel.jpg
Err ... Gingerbread House's price going up?

I know The Sail @ Marina Bay's price is going up but I am not sure about Gingerbread House's.

Is Gingerbread Man buying?

Why $2,999 psf?
Why not $3,000 psf?

What is $1 psf for The Sail?
Lucky number?
Strange!

The Sail At Marina Bay
Address ................................ psf ................... Area ........... Price ............... Contract Date
2 Marina Boulevard #25-03 .... $2,999 psf ..... 1,033 sqft .... $3,099,000 ...... 30 Nov 09

Reporter

18-12-09, 21:49

..........
..........

How come nowadays your posts got so many Mickey Mouses?
Ö
Is it to celebrate the arrival of Mickeymousation?

http://www.thisdayindisneyhistory.com/files/MouseSilhouette.jpg
OK OK! Your M$ckeymousat$on wins! Reporter has nothing more to say.

Alexis
Address .................................. psf ................. Area ......... Price ........... Contract Date
356 Alexandra Road #02-61 ..... $1,276 psf ..... 420 sqft .... $535,000 ..... 13 Nov 09
356 Alexandra Road #04-27 ..... $1,345 psf ... 409 sqft .... $550,000 ....... 9 Nov 09
356 Alexandra Road #04-43 ..... $1,320 psf ..... 409 sqft .... $540,000 ...... 22 Oct 09
356 Alexandra Road #02-03 ..... $1,329 psf ..... 420 sqft .... $558,000 ..... 23 Sep 09

These lucky people!
I dunno watta say!

356 Alexandra Road #02-61 ..... $1,276 psf ..... 420 sqft .... $535,000 ..... 13 Nov 09
356 Alexandra Road #02-61 ..... $1,112 psf ..... 420 sqft .... $467,000 ....... 3 Mar 09

356 Alexandra Road #04-27 ..... $1,345 psf ... 409 sqft .... $550,000 ....... 9 Nov 09
356 Alexandra Road #04-27 ..... $1,110 psf ..... 409 sqft .... $454,000 ..... 10 Mar 09

356 Alexandra Road #04-43 ..... $1,320 psf ..... 409 sqft .... $540,000 ...... 22 Oct 09
356 Alexandra Road #04-43 ..... $1,198 psf ..... 409 sqft .... $490,000 ....... 10 Jul 09

356 Alexandra Road #02-03 ..... $1,329 psf ..... 420 sqft .... $558,000 ..... 23 Sep 09
356 Alexandra Road #02-03 ..... $1,112 psf ..... 420 sqft .... $467,000 ..... 10 Mar 09

Reporter

18-12-09, 23:36

http://www.theedgesingapore.com/images/logo_s.png
Prices of Nuovo EC cross $600psf on 'Centro-effect'
The Edge
Monday, 5 October 2009

There’s been a spurt in sales at Nuovo in Ang Mo Kio recently, after the executive condominium (EC) crossed the 5-year minimum-occupation period. Seven units changed hands from Sept 4 to 11, according to caveats lodged with URA Realis. In 2006 and 2008, there was only 1 transaction each, and 2 deals in 2007. Owners who sold recently are taking advantage of the “Centro-effect”, caused by the launch of giant property developer Far East Organization’s 329-unit Centro Residences in Ang Mo Kio Avenue 8. Units there have been sold at an average of $1,179 psf from its launch in August to Sept 11, according to figures from URA Realis. Between Sept 4 and 11, an 893 sqft unit sold for $1.07 million, or $1,199 psf.

Given that it’s a private condominium, Centro Residences doesn’t have the same restrictions that Nuovo, an EC, has. Under HDB rules, owners of ECs are only allowed to sell their units to Singapore citizens or permanent residents 5 years after the project receives TOP, which, for the 297-unit Nuovo, was in 2004. It’s only 10 years after TOP that units in ECs can be traded like any other private condominium in the resale market, with sales to foreigners allowed as well.

However, the owners of Nuovo should be delighted at transaction prices in the range of $477 to $637 psf, as they are the highest achieved since the property was launched at end-2001. Prices at that time were hovering at $400 psf.

For instance, a 1,119 sqft unit on the 9th floor went for $710,000, or $634 psf. This is a gain of 52% for the original owner, who had purchased it from developer CDL for $467,276 in 2002. A larger unit on the 17th floor went for $1.2 million, or $477 psf. The 2,594 sqft condominium was purchased for $812,746 in 2001.

..........
..........
My goodness!
We know condos have been breaking high but ECs ...
Just look at Nuovo EC.
It has broken its last high of $637 psf with $646 psf!

Nuovo
Address .......................................... psf ............... Area ............ Price ........... Contract Date
23 Ang Mo Kio Avenue 9 #15-10 ..... $646 psf ..... 1,281 sqft .... $828,000 ..... 6 Nov 09

jlrx

18-12-09, 23:43

Err ... Gingerbread House's price going up?

I know The Sail @ Marina Bay's price is going up but I am not sure about Gingerbread House's.

Is Gingerbread Man buying?

I found out during Hansel and Gretel's time, a loaf of bread cost one penny, and a house $500.

The house's info is from this guy below, who checked up the price of his house (Wow ... in the US they can check up to more than 100 years back!)

Now a loaf of bread costs around $1 and the house around $58,500.

Unfortunately, I can't find the price of Gingerbread House.

I wonder how much that witch rented it for?

How much did a house cost in the 19th century?

I'm researching my house's age (I'm in Davenport, Iowa), and the lot (you can't tell from the abstract if there was a house on the lot or not! - Iowa uses abstracts rather than title opinions, so oftentimes one gets an abstract of title back to the days of the indians).

In 1856, it sold for $500, and then in 1869 for $3,000. from the style of the house, (5 marble fireplaces, etc.) it dates from the 1860's, but there is a strange "core" that seems earlier, and I'm wondering if there was a structure there in 1856 (prior to this the lot was part of a larger parcel, and the area was subdivided in the 1850's)

BTW, I paid $58,500 a couple months ago. Yes, its a good neighborhood.

Reporter

19-12-09, 00:20

Holding power,and a FH property.
They can survive til the next peak
Money means holding power. $333 bïllïon is money. $333,000 për höusehöld is also money.

http://www.sph.com.sg/images/logo_tnp.png
What you need to know about your CPF
Larry Haverkamp
The New Paper
Friday, 18 December 2009

http://www.asiaone.com/a1media/business/12Dec09/images/20091215.164208_st_cpf.jpg

We have just over $333 bïllïon invested in our CPF accounts, including housing and investments. It's an incredible $333,000 për höusehöld and makes up most of our savings.

..........
..........

jlrx

19-12-09, 00:54

Money means holding power. $333 bïllïon is money. $333,000 për höusehöld is also money.

While we are still arguing about whether the property market is going up or down, there is one segment which has quietly surpassed its previous all-time high.

The Straits Times

Dec 18, 2009

http://www.straitstimes.com/STI/STIMEDIA/image/20091218/landed.jpg

PRICES of prime resale landed homes have risen 18.6 per cent this year to reach a new high of $1,447 per sq ft, said a report by DTZ Research on Friday.

It has easily surpassed the previous peak levels achieved in the first quarter of last year when prices of this segment reached $1,293 psf.

Reporter

21-12-09, 13:13

http://www.theedgesingapore.com/images/logo.png
Done Deals
City Square Residences resale prices above $1,000 psf
The Edge
Monday, 14 December 2009

http://www.1aceproperty.com/photos/DLCON052JC-CitySquareRes.jpg

Since June this year, transaction prices of apartments at the 910-unit City Square Residences in the secondary market have increasingly crossed $1,000 psf, hitting a high of $1,271 psf in August, when a 570 sqft studio apartment on the 26th floor of one of the two 30-storey towers was sold for $725,000. Since October, however, more units have been changing hands in the resale market at prices above the $1,000 to $1,100 psf range.

There has also been an increase in transactions last month. In November, up to the latest caveat lodged on Nov 18 — for a three bedroom 1,518 sq ft unit that changed hands for $1.49 million — there were already eight transactions at City Square Residences, compared with seven recorded in October, according to the URA Realis database of caveats. The buoyant prices at City Square Residences can be attributed to the launch of the 40-unit boutique-apartment project City Loft on Race Course Road by Oxley (Ascend Capital Pte Ltd) in late October, where units were sold at $999 to $1,154 psf, according to caveats lodged. The development is made up of 34 units of studio apartments ranging from 322 to 419 sqft and six two-bedroom “penthouses” of 742 to 904 sqft.

In contrast, the massive City Square Residences, easily one of the largest condominiums in the vicinity (if not the largest), has a wide mix of larger units catering to families, with two-bedroom apartments of 840 to 1,302 sqft, 3-bedroom apartments of 1,195 to 1,830 sqft and 4-bedroom apartments starting from about 1,500 sqft. Even the studio apartments are around 570 sqft.

Another reason for City Square Residences being on the radar of homebuyers of late could also be the opening of City Square Mall, with over 700,000 sqft of retail space and 300 shops, in November. Among the many shops and F&B outlets in the building are an NTUC Fairprice supermarket, a Metro department store and a KopiTiam food court. Developed by City Developments Ltd (CDL), the developer for City Square Residences, the mall is conveniently located right next to the condominium project and linked underground to the nearby Farrer Park MRT station.

The freehold condo project was launched in April 2005 at an initial average selling price of $560 psf, and given its location on the fringe of the city and next to the MRT station as well as a shopping mall, the project had attracted the interest of both owner-occupiers and investors. The project was sold out within months of its launch. Prices have certainly appreciated in the last four years, and transaction prices in recent months have even exceeded the levels seen from 3Q2007 to 1Q2008, at the peak of the property boom. From Nov 13 to 20, three units changed hands in the resale market at $982 to $1,121 psf.

For instance, a three-bedroom, 1,216 sqft 5th-storey unit in one of the two towers changed hands in a resale at $1.23 million, or $1,011 psf, according to a caveat lodged on Nov 17. This was the second time the unit has changed hands in the secondary market. The first time was just a year ago, when the previous owner paid $899,800, or $740 psf, for it. Thus, he enjoyed a capital upside of 36.7% in just a year. The original owner purchased it from the developer in August 2005 for $782,100, or $643 psf, a 15% appreciation.

Meanwhile, a two-bedroom, 861 sqft unit on the 23rd floor of one of the twin towers was sold for $965,000, or $1,121 psf. The previous owner had purchased it for $720,000, or $836 psf, in January when the project was close to completion, enjoying a 34% gain in less than 12 months. The first owner bought the unit when it was launched, for $576,000, or $669 psf, enjoying a 25% capital gain. With amenities like shopping mall and MRT in place, and just a short walk from vibrant Little India, it’s no wonder that prices at City Square Residences have been on the rise.

proud owner

21-12-09, 22:41

august

21-12-09, 23:05

proud owner

21-12-09, 23:08

that works for new flats directly sold by HDB

for resale HDBs, private housing prices come into play too and set guide prices for resale HDBs, so eventually the richer HDB buyers will also flow towards 'prime' locations while less well off HDB buyers will gravitate towards outer regions likewise creating a 'rich zone' and 'poor zone' over time.

correct

his point is why Dawson selling at different price to brand new at ponggol ?

all brand new flats sold be HDB should be at the same psf .. regardless of location ...

resale HDB can do all they want .. thats his point

august

21-12-09, 23:16

correct

his point is why Dawson selling at different price to brand new at ponggol ?

all brand new flats sold be HDB should be at the same psf .. regardless of location ...

resale HDB can do all they want .. thats his point

HDB not stupid, they justify unusually high prices by calling it BTOs or roping in brand name architects/design, create product differentiation lor ~

andy

21-12-09, 23:18

correct

his point is why Dawson selling at different price to brand new at ponggol ?

all brand new flats sold be HDB should be at the same psf .. regardless of location ...

resale HDB can do all they want .. thats his point

Well all locations are not created equal. Cost building material and labour may be the same but the location at Dawson justifies a higher premium?

If all HDB are the same price, how long do you think the queue would be for the public carpark next to Borders @ Orchard to be converted to HDB and sell at $200psf?

proud owner

21-12-09, 23:21

HDB not stupid, they justify unusually high prices by calling it BTOs or roping in brand name architects/design, create product differentiation lor ~

HDB flats are the starting block for all singaporeans ..

owner can renov however they like base on their wealth .. theres no need to do nice nice .. by doing what they do now with Dawson ..its splitting the wealthy and poor right from the base level ..

ultimately rich will be richer ... not so rich will remain not so rich

where is that "everyoine has a chance' govt always talking about ?

Property_Owner

21-12-09, 23:25

kalumder

21-12-09, 23:30

Well all locations are not created equal. Cost building material and labour may be the same but the location at Dawson justifies a higher premium?

If all HDB are the same price, how long do you think the queue would be for the public carpark next to Borders @ Orchard to be converted to HDB and sell at $200psf?

I agree with Andy.
It would seem a bit unfair if by lottery some-one (group of people) could gain an asset of far greater value (double, triple), than through hard work.

I think the government should focus, on monitoring the prices compared to other international cities (not just Hong Kong, London etc...). anything above 600K gets you some really nice property in most larger cities around the world that are far more impressive than an HDB flat. What good are low taxes if most if it goes to a mortgage of a property which is not exactly good bang for the buck if you compare to most cities around the world. Only really high income industries like bankers, are not effected by these costs. How ever these people are not exactly the most loyal stakeholders in a country. IT is tricky.

Reporter

21-12-09, 23:31

I heard they are using HSR to market one of the DBSS. Is tat true?
The Peak @ Toa Payoh is marketed by HSR.

Many years ago, HDB also tasked property agents to sell their unsold HDB flats.

august

21-12-09, 23:31

HDB flats are the starting block for all singaporeans ..

owner can renov however they like base on their wealth .. theres no need to do nice nice .. by doing what they do now with Dawson ..its splitting the wealthy and poor right from the base level ..

ultimately rich will be richer ... not so rich will remain not so rich

where is that "everyoine has a chance' govt always talking about ?

totally agree with wat u are saying ~

kane

21-12-09, 23:43

met a singaporean in NY last weekend

and he has an interesting take ...

HDB is public housing .. meant for the people ... something affordable .. especially to those with lower income ...

HDB are built on state land .. so HDB should be sold , on material cost, construction labor cost etc etc ... and SHOULD NOT charge on land cost ...

so regardless woodlands, sengkang or Dawson ...ALL HDB SHOULD BE SAME PRICE ...go on ballot system ..

after all HDB are public housing meant for the people ..

why have different pricing for different location ???

by selling HDB at different location at different price .. govt is setting a base for private housing ..indirectly 'supporting' the private housing prices .. forcing the 'not so rich' to move out to outskirt areas.. creating a 'rich zone' and 'poor zone' ..

if HDB is sold same price everywhere ..and sold on ballot system .. everyone is given a chance ..

THATS true equality ..

this singaporean does have a point ...

and what if HDB decides only to build 3room flats for the real lower income and leave the current 4/5roomers to slug it out in the private market? would this group be in a better state when left to deal with private developers and private resellers?

yes everyone has an equal chance at striking lottery in a ballot system when they are offered it at cost. but for the many unlucky ones who didn't get balloted, knowing local mentality, they'll surely complain that they balloted so many times and didn't get a flat of their choice.

central planning unfortunately isn't very efficient allocator of resources, the pricing mechanism for lack of a better alternative does a slightly better job.

if you were playing a game titled "Sim Singapore HDB", how would you allocate your housing to keep the broader masses happy when you have developed 80% of your residential land?

proud owner

21-12-09, 23:47

and what if HDB decides only to build 3room flats for the real lower income and leave the current 4/5roomers to slug it out in the private market? would this group be in a better state when left to deal with private developers and private resellers?

yes everyone has an equal chance at striking lottery in a ballot system when they are offered it at cost. but for the many unlucky ones who didn't get balloted, knowing local mentality, they'll surely complain that they balloted so many times and didn't get a flat of their choice.

central planning unfortunately isn't very efficient allocator of resources, the pricing mechanism for lack of a better alternative does a slightly better job.

if you were playing a game titled "Sim Singapore HDB", how would you allocate your housing to keep the broader masses happy when you have developed 80% of your residential land?

i hear you

at least everyone has a chance at getting at cost , a flat in good location ..

yes those who dont get it will complain

but by setting the starting price now already eliminated a big group from that chance ..

so there will still be complains ...

but i feel .. often its not the poor who complain

its the richer ones that complain more hahah

jlrx

21-12-09, 23:49

met a singaporean in NY last weekend

and he has an interesting take ...

HDB is public housing .. meant for the people ... something affordable .. especially to those with lower income ...

HDB are built on state land .. so HDB should be sold , on material cost, construction labor cost etc etc ... and SHOULD NOT charge on land cost ...

so regardless woodlands, sengkang or Dawson ...ALL HDB SHOULD BE SAME PRICE ...go on ballot system ..

after all HDB are public housing meant for the people ..

why have different pricing for different location ???

by selling HDB at different location at different price .. govt is setting a base for private housing ..indirectly 'supporting' the private housing prices .. forcing the 'not so rich' to move out to outskirt areas.. creating a 'rich zone' and 'poor zone' ..

if HDB is sold same price everywhere ..and sold on ballot system .. everyone is given a chance ..

THATS true equality ..

this singaporean does have a point ...

No need so troublesome.

It' more efficient for the government to just give out cash directly.

We can have a system like this:

Whoever applies for Pinnacle @ Duxton, receive cash $300,000.
Whoever applies for SkyTerrace @ Dawson, receive cash $200,000.
Whoever applies for Montreal Dale @ Sembawang, receive cash 100,000.
Whoever applies for Punggol Arcadia, receive $0.

This is more efficient because the applicants do not have to re-sell their flats in the resale market, in order to realise their profits. This will save them agency commissions and also the time and effort of moving house.

Under your friend's suggested balloting system, if someone got a unit at Duxton but decide downgrade to Punggol in order to realise his "profits", he will have to sell Duxton, then buy again at Punggol. That's a lot of hazzle.

It's much simpler for everyone if the Duxton applicant just receives $300,000 cash directly from the government.

He can then choose to do whatever he likes with the money. For example, he can:

1. Buy a unit at the Pinnacle @ Duxton, using the $300,000 government grant to top up the purchase price.

2. Buy a unit at Punggol Arcadia and use the $300,000 to buy a BMW 740 Li so that he can drive in style to work.

3. Buy a unit at Punggol Arcadia and use the $300,000 to buy two BMW 320i. One for husband and one for wife, so that they can zip around the island independently.

This makes much more sense than your friend's suggestion.

proud owner

21-12-09, 23:54

No need so troublesome.

It' more efficient for the government to just give out cash directly.

We can have a system like this:

Whoever applies for Pinnacle @ Duxton, receive cash $300,000.
Whoever applies for SkyTerrace @ Dawson, receive cash $200,000.
Whoever applies for Montreal Dale @ Sembawang, receive cash 100,000.
Whoever applies for Punggol Arcadia, receive $0.

This is more efficient because the applicants do not have to re-sell their flats in the resale market, in order to realise their profits. This will save them agency commissions and also the time and effort of moving house.

Under your friend's suggested balloting system, if someone got a unit at Duxton but decide downgrade to Punggol in order to realise his "profits", he will have to sell Duxton, then buy again at Punggol. That's a lot of hazzle.

It's much simpler for everyone if the Duxton applicant just receives $300,000 cash directly from the government.

He can then choose to do whatever he likes with the money. For example, he can:

1. Buy a unit at the Pinnacle @ Duxton, using the $300,000 government grant to top up the purchase price.

2. Buy a unit at Punggol Arcadia and use the $300,000 to buy a BMW 740 Li so that he can drive in style to work.

3. Buy a unit at Punggol Arcadia and use the $300,000 to buy two BMW 320i. One for husband and one for wife, so that they can zip around the island independently.

This makes much more sense than your friend's suggestion.

ahahhah

brother .... this is NEVER going to happen ...

sometimes govt over charge me for some stuff .. i write in to claim back ..
takes me months before i get my money .. BUT if i dont pay ON TIME ..will kana pink reminder letter .. then go to court etc etc

SINCE 1965 ...its easy to PAY to govt but damn tough to CLAIM BACK

let alone take from them upfront ?

BUT i like to vote for you if you ever run in the next election ,,

Reporter

21-12-09, 23:57

No need so troublesome.

It' more efficient for the government to just give out cash directly.

We can have a system like this:

Whoever applies for Pinnacle @ Duxton, receive cash $300,000.
Whoever applies for SkyTerrace @ Dawson, receive cash $200,000.
Whoever applies for Montreal Dale @ Sembawang, receive cash 100,000.
Whoever applies for Punggol Arcadia, receive $0.

This is more efficient because the applicants do not have to re-sell their flats in the resale market, in order to realise their profits. This will save them agency commissions and also the time and effort of moving house.

Under your friend's suggested balloting system, if someone got a unit at Duxton but decide downgrade to Punggol in order to realise his "profits", he will have to sell Duxton, then buy again at Punggol. That's a lot of hazzle.

It's much simpler for everyone if the Duxton applicant just receives $300,000 cash directly from the government.

He can then choose to do whatever he likes with the money. For example, he can:

1. Buy a unit at the Pinnacle @ Duxton, using the $300,000 government grant to top up the purchase price.

2. Buy a unit at Punggol Arcadia and use the $300,000 to buy a BMW 740 Li so that he can drive in style to work.

3. Buy a unit at Punggol Arcadia and use the $300,000 to buy two BMW 320i. One for husband and one for wife, so that they can zip around the island independently.

This makes much more sense than your friend's suggestion.
But his friend, the commie I supposed, may add that no one can sell their flat for a profit. So under his system, nobody can benefit nor lose out buying or selling a flat and nobody can complain "unfair" too.

Sir, $300,000 can only buy 730Li leh.

proud owner

22-12-09, 00:02

But his friend, the commie I supposed, may add that no one can sell their flat for a profit. So under his system, nobody can benefit nor lose out buying or selling a flat and nobody can complain "unfair" too.

Sir, $300,000 can only buy 730Li leh.

i think this sporean in NY's idea is that

all new flats sold by HDB should be the same price ..regardless of locations ..since all land belongs to the state (and the people) .. so that the general public gets a chance at buying flat at prime location

after 5 yrs they can sell to open mkt .. thats how the poor can become rich ..if they cash in and buy resale flat (or condo) at another location

by selling at different pricing .. the govt is splitting rich and poor ..

resale mkt is a different story he says .. its then like private ..

public housing should not be sold like private housing in the first place ..

thats his take

Reporter

22-12-09, 00:28

i think this sporean in NY's idea is that

all new flats sold by HDB should be the same price ..regardless of locations ..since all land belongs to the state (and the people) .. so that the general public gets a chance at buying flat at prime location

after 5 yrs they can sell to open mkt .. thats how the poor can become rich ..if they cash in and buy resale flat (or condo) at another location

by selling at different pricing .. the govt is splitting rich and poor ..

resale mkt is a different story he says .. its then like private ..

public housing should not be sold like private housing in the first place ..

thats his take
Then it is unfair!

The cost of building a flat in a prime area is higher due to higher transport cost (tolls, parking, fuel wasted in jams, time wasted in jams, etc.), higher labour cost (cos' non-hostel-based workers staying in/near prime areas cost more) and higher building cost (cos' more difficult to build in densely built-up areas).

Why should those allocated with a non-prime flat "pay more" for a lower-cost flat?

jlrx

22-12-09, 01:52

But his friend, the commie I supposed, may add that no one can sell their flat for a profit. So under his system, nobody can benefit nor lose out buying or selling a flat and nobody can complain "unfair" too.

Sir, $300,000 can only buy 730Li leh.

Parallel import got ...

Executive Automobile Tel: 65475505
740Li (A) $290,800
1 bid guaranteed COE without top-ups. Price before cash rebate.

Genesis Tel: 62456680
740Li (A) $297,888
4 bid guaranteed COE without top-ups. Price before cash rebate.

Since you suspect that proud owner's friend is a commie, could he be ... Saint Double-O? :scared-4:

http://letterstoadyingdream.files.wordpress.com/2008/09/kim_jong-il_heart_throb1.jpg

kane

22-12-09, 07:19

Then it is unfair!

The cost of building a flat in a prime area is higher due to higher transport cost (tolls, parking, fuel wasted in jams, time wasted in jams, etc.), higher labour cost (cos' non-hostel-based workers staying in/near prime areas cost more) and higher building cost (cos' more difficult to build in densely built-up areas).

Why should those allocated with a non-prime flat "pay more" for a lower-cost flat?

Those who got puggol instead of dawson will complain again. Resale cannot be treated too far from original purchase from HDB. People will inevitably compare and complain.

sleek

22-12-09, 07:41

public housing should not be sold like private housing in the first place ..

Can agree with the above point, but not below.

resale mkt is a different story he says .. its then like private ..

If resale can be treated as Private, then that defeats the first purpose.

:2cents:

xebay11

22-12-09, 07:41

It all simply boils down to stupid Singaporeans, willing to pay $600+k for Dawson 99LH HDB, no matter what policy is in place they will eventually be sold at that kind of prices in the resale market, simply because there are stupid buyers. So cannot blame Govt.

ay123

22-12-09, 08:43

i think to be fair. government should cap the profit at say $200k and impose 80% TAX on the remaining profit. so irregardless of prime or ulu location, every singaporean will have a fair share of profit. those non prime location might make less than $200k profit so he need not pay tax but prime location profit will make > $200k profit but he can only keep $200k plus 20% more of the remaining profit. the extra 20% is to compensate them for paying higher price for the prime location. such system will ensure every singapore can have their fair share of profit:cool:

Reporter

22-12-09, 09:10

xebay11

22-12-09, 09:11

gfoo

22-12-09, 09:25

lol... this thread is so amusing

sleek

22-12-09, 09:55

Might as well say all Public Housing should be on Rental basis and not lease sale. Then anyone who wish to make $$$ from properties do so in the Private markets. :D

ronyyk76

22-12-09, 10:32

Reporter

22-12-09, 10:44

http://www.finehomeslv.com/stardust_hotel_las_vegas/las-vegas-sands.jpg

"Look at me. Do I look stüpïd? Do you think we put 5½ billion dollars in here because we didn’t check the market ...? Trust me, there will be more high rollers than you can shake a stick at."

"There are so many high rollers. We have 5 plane-loads of ... 747s flying, starting yesterday. They flew to Vegas with about 100 high rollers. Two of the trips come from KL. One trip from Singapore, one trip from Bangkok, one trip from Jakarta and one trip from Hong Kong. They all say they’re waiting for Singapore to open."

http://d.yimg.com/a/p/ap/20091221/capt.84208a73018945648326dc370cb94105.singapore_las_vegas_sands_sin102.jpg
- Sheldon G. Adelson
.. Chairman and CEO
.. Las Vegas Sands Corp.

kane

22-12-09, 11:16

Sounds equitable.

logically it sounds fair, but then, people will again complain that the state is taxing too much and making too much in the process. so how? there'll be a reason to complain about anything and everything. ha.

Reporter

22-12-09, 11:33

LEEporter

22-12-09, 14:33

For $1200 i can buy almost new Freehold in River Valley! or near Mohd Sultan!:doh:

andy

22-12-09, 14:38

For $1200 i can buy almost new Freehold in River Valley! or near Mohd Sultan!:doh:

What is almost new? 2-3 years old?

Property_Owner

22-12-09, 14:45

For $1200 i can buy almost new Freehold in River Valley! or near Mohd Sultan!:doh:

Got mah? Where?

LEEporter

22-12-09, 15:02

watermark lor. or one jervois if bargain low floor. or those Shanghai One that kind lor.

Reporter

22-12-09, 15:16

For $1200 i can buy almost new Freehold in River
Valley! or near Mohd Sultan!:doh:
$1,200 psf!
Yummy!

Does your "almost new" mean "resale"?
Are you an agent or an owner?

Can you let me know this opportunity soonest? I am keen to buy, whatever the size. (OK ... no penthouse.)

Is it Rivergate, The Cosmopolitan, Robertson Edge or Attitude at Kim Yam?

Rivergate
Address ................................. psf ................. Area ........... Price ............ Contract Date
99 Robertson Quay #22-15 ... $1,616 psf ..... 1,496 sqft ... $2,418,000 ...... 18 Nov 09
99 Robertson Quay #24-12 ... $1,709 psf ..... 1,539 sqft ... $2,630,000 ...... 10 Nov 09
97 Robertson Quay #30-06 ... $1,733 psf ..... 2,077 sqft ... $3,600,000 ..... 29 Oct 09
99 Robertson Quay #16-12.... $1,748 psf ..... 1,539 sqft ... $2,690,000 ....... 14 Oct 09
93 Robertson Quay #14-05.... $1,548 psf ..... 1,550 sqft ... $2,400,000 ....... 12 Oct 09
97 Robertson Quay #34-08 ... $1,901 psf 2,077 sqft ... $3,950,000 ....... 7 Oct 09
99 Robertson Quay #06-12 ... $1,700 psf ..... 1,539 sqft ... $2,616,000 ......... 7 Oct 09
99 Robertson Quay #21-16 ... $1,700 psf ..... 1,044 sqft ... $1,774,000 ...... 28 Sep 09
97 Robertson Quay #33-10 ... $1,800 psf .... 1,970 sqft ... $3,546,000 ...... 16 Sep 09
99 Robertson Quay #23-14 ... $1,711 psf ..... 1,023 sqft ... $1,750,000 ...... 14 Sep 09
99 Robertson Quay #14-13 ... $1,649 psf ..... 1,055 sqft ... $1,740,000 ........ 9 Sep 09
97 Robertson Quay #38-09 ... $1,800 psf .... 3,843 sqft ... $6,917,000 ..4 Sep 09

The Cosmopolitan
Address ................................. psf ................. Area ........... Price ............... Contract Date
202 Kim Seng Road #33-07 ... $1,846 psf ..... 1,679 sqft ... $3,100,000 .... 20 Nov 09
202 Kim Seng Road #29-06 ... $1,823 psf ..... 1,141 sqft ... $2,080,000 ....... 14 Oct 09
202 Kim Seng Road #12-06 ... $1,727 psf ..... 1,141 sqft ... $1,970,000 ........ 2 Sep 09
202 Kim Seng Road #14-05 ... $1,683 psf ..... 1,141 sqft ... $1,920,000 ........ 1 Sep 09
202 Kim Seng Road #29-05 ... $1,790 psf ..... 1,141 sqft ... $2,042,000 ...... 20 Aug 09
202 Kim Seng Road #34-01 ... $1,858 psf oo 1,399 sqft ... $2,600,000 ...... 17 Aug 09
202 Kim Seng Road #20-07 ... $1,665 psf ..... 1,679 sqft ... $2,795,000 ...... 17 Aug 09
202 Kim Seng Road #30-07 ... $1,600 psf ..... 1,679 sqft ... $2,686,000 ...... 14 Aug 09
202 Kim Seng Road #31-07 ... $1,750 psf ..... 1,679 sqft ... $2,938,000 ........ 4 Aug 09
202 Kim Seng Road #28-03 ... $1,737 psf ..... 1,324 sqft ... $2,300,000 ........ 4 Aug 09

Robertson Edge
Address ................................. psf ................. Area ........ Price ............ Contract Date
18 Tong Watt Road #07-04 ... $1,599 psf .o 463 sqft ... $740,000 ...... 30 Oct 09
18 Tong Watt Road #05-01 ... $1,549 psf ..... 398 sqft ... $616,000 ...... 16 Sep 09
18 Tong Watt Road #05-06 ... $1,579 psf ..... 431 sqft ... $680,000 ...... 14 Sep 09

Attitude at Kim Yam
Address ............................ psf ................. Area ........ Price ............ Contract Date
1 Kim Yam Road #08-01 .... $1,557 psf o. 366 sqft ... $570,000 ........ 2 Oct 09
1 Kim Yam Road #05-01 .... $1,530 psf ..... 366 sqft ... $560,000 ..... 11 Sep 09

LEEporter

22-12-09, 15:21

brother i was talking about watermark, shanghai one that kind of CMI one... not your kind of prime river valley

Reporter

22-12-09, 15:34

watermark lor. or one jervois if bargain low floor. or those Shanghai One that kind lor.
I think One Jervois is in River Valley?
Am I right?

One Jervois
Address ........................... psf ................. Area ........... Price .............. Contract Date
7 Jervois Close #10-13 .... $1,390 psf ..... 1,496 sqft ... $2,080,000 ..... 30 Nov 09
7 Jervois Close #12-15 .... $1,445 psf .... 1,959 sqft ... $2,830,000 ... 13 Nov 09
3 Jervois Close #11-05 .... $1,335 psf ..... 1,012 sqft ... $1,351,000 ..... 10 Nov 09
9 Jervois Close #07-18 .... $1,400 psf ........ 990 sqft ... $1,386,000 ....... 6 Nov 09
9 Jervois Close #03-19 .... $1,370 psf ..... 1,066 sqft ... $1,460,000 ...... 28 Oct 09
3 Jervois Close #03-05 .... $1,280 psf ..... 1,012 sqft ... $1,295,000 ...... 19 Oct 09
11 Jervois Close #03-23 .. $1,315 psf ..... 1,733 sqft ... $2,278,000 ........ 6 Oct 09
9 Jervois Close #01-18 .... $1,293 psf ........ 990 sqft ... $1,280,000 ........ 2 Oct 09

andy

22-12-09, 15:59

$1,200 psf!
Yummy!

Does your "almost new" mean "resale"?
Are you an agent or an owner?

Can you let me know this opportunity soonest? I am keen to buy, whatever the size. (OK ... no penthouse.)

Hmm.... what's wrong with penthouse? Cannot flip or no upside?

Reporter

22-12-09, 16:02

Hmm.... what's wrong with penthouse? Cannot flip or no upside?
No lah.
It's just that my head ain't big enough!

Reporter

22-12-09, 16:43

http://www.cimb.com/images/group/cimb_logo.gif
Singapore Property
Mid- to high-end strong in seasonally weak period
Overweight Maintained
Donald Chua
CIMB
Wednesday, 16 December 2009

Mid- to high-end sales gain momentum

Maintain Overweight on sector. The URA released new private home sales data for Nov 09 yesterday. Some 600 new private homes were sold in the month, down 26% mom. This, however, brought YTD sales to 14,370 units, just 441 units shy of the 2007 peak, though the total value was still 50+% below. November marked the second month that private home sales were below 1,000 units after cooling measures were rolled out by the government in Sep 09. We are not concerned, as we believe property volumes are typically weaker towards the end of the year. A lack of meaningful new launches and extremely robust take-up in the past 9 months also played a part in the breather, in our view. We maintain that more normalised property demand is actually healthy for the sector in the mid-long term. Positives from the November data were improving sentiment in the mid- to high-end of the market. We see Hobee and Allgreen as the main beneficiaries of this recovery going into 2010. We see sector re-rating catalysts from the strong financial positions of developers and buyers, as well as improvements in the real economy going into the new year. Other top picks at this juncture are UOL (attractive valuations), CityDev (market leadership) and CapLand (CMA boost and geographical diversification).

Comments

Seasonally weak volume not a concern at this juncture. The latest new home sales represent a 26% mom fall in transaction volumes. November marked the second month that new private home sales were below 1,000 units following cooling measures announced by the government in Sep 09. We are not surprised, given a lack of meaningful new launches and cautious buyer sentiment following the cooling measures. We expect December numbers to come in at 300-500 units, which should put 2009 sales on par with the 2007 peak. With many positives to look forward to next year, we expect monthly transaction volumes to improve further. A reversion of property volumes to a more stable level (8,000-10,000 units), stronger developer and household balance sheets, and an improving economic climate should defuse overhanging policy risks, we believe.

Good mid to high-end sales during seasonal weakness. A ray of light in this period came from the mid to high-end market. In particular, demand for products with ASPs over S$1,500psf was rather good in the month. Projects in this segment that boasted some good sales included Cyan (25 units sold in November, ASP S$1,905 psf, Far East), Lincoln Suites (15 units sold, ASP S$1,771 psf, a consortium), Marina Bay Suites (87 units sold, ASP S$2,159 psf, KepLand/CK) and Parvis (103 units sold, ASP S$1,507 psf, Hobee). We like the fact that demand in this segment was not all dominated by “shoe-box” units, suggesting to us that demand for high-end properties may be genuinely recovering.

Valuation and recommendation

Maintain Overweight. In our universe, we see Hobee (Outperform, target price S$1.95) and Allgreen (Outperform, target price S$1.50) as the main beneficiaries of a recovery in the mid to high-end market in 2010. We maintain our Overweight on the sector, seeing sector catalysts from the strong financial positions of developers and buyers, and improvements in the real economy. Other top picks in the sector at this juncture are UOL (attractive valuations), CityDev (market leadership) and CapLand (CMA boost and geographical diversification).

bargain hunter

22-12-09, 17:56

yeah, i was at a property auction last month. Shanghai One #10-03 was offered for sale and someone bid 1.08m for 883 sq ft, 1223psf. No one upped the bid so was done. Recent Dec caveat also shows a lower floor of 1210psf for #05-03.

watermark lor. or one jervois if bargain low floor. or those Shanghai One that kind lor.

Reporter

22-12-09, 18:15

http://www.avmaroc.com/images/actualite/thumbs/aid-149162_0.jpg
China's GDP per capita up
Agence France-Presse
Shanghai, China
Tuesday, 22 Decemeber 2009, 4.58 pm CCT

http://d.yimg.com/ca.yimg.com/p/091104/afp/iphoto_1257318035975-1-0jpg.jpg
Chart showing the World Bank's GDP forecast for China which has been upgraded to 8.4% for 2009. - Photo: AFP

The average individual share of gross domestic product in China is expected to rise 14% next year, even as the gap between urban and rural incomes widens, state media reported on Tuesday.

GDP per capita is expected to reach nearly US$4,000 by the end of 2010 from US$3,500 at the end of this year, the China Business News reported, citing a report published by a government think tank.

Strong economic growth, slowing population growth and an expected appreciation in the yuan would underpin the increase, Li Peilin, a researcher at the Institute of Sociology of the Chinese Academy of Social Sciences and chief author of the report, was quoted as saying. However, the distribution of income was becoming 'increasingly unfair", Ms Li said.

In urban areas, disposable income per capita - already more than 3 times that in rural areas at the end of 2008 - would increase 10% in 2009, according to the report, which forecast social conditions in 2010.

But the increase in per capita disposable income for rural residents would be less than 7%, partly due to the impact of the global financial crisis on incomes for migrant workers, it said.

LEEporter

22-12-09, 18:24

show us Shanghai One and Watermark lah

why you show us only the high priced ones? people want to buy the good deals leh

I think One Jervois is in River Valley?
Am I right?

One Jervois
Address ........................... psf ................. Area ........... Price .............. Contract Date
7 Jervois Close #10-13 .... $1,390 psf ..... 1,496 sqft ... $2,080,000 ..... 30 Nov 09
7 Jervois Close #12-15 .... $1,445 psf .... 1,959 sqft ... $2,830,000 ... 13 Nov 09
3 Jervois Close #11-05 .... $1,335 psf ..... 1,012 sqft ... $1,351,000 ..... 10 Nov 09
9 Jervois Close #07-18 .... $1,400 psf ........ 990 sqft ... $1,386,000 ....... 6 Nov 09
9 Jervois Close #03-19 .... $1,370 psf ..... 1,066 sqft ... $1,460,000 ...... 28 Oct 09
3 Jervois Close #03-05 .... $1,280 psf ..... 1,012 sqft ... $1,295,000 ...... 19 Oct 09
11 Jervois Close #03-23 .. $1,315 psf ..... 1,733 sqft ... $2,278,000 ........ 6 Oct 09
9 Jervois Close #01-18 .... $1,293 psf ........ 990 sqft ... $1,280,000 ........ 2 Oct 09

Property_Owner

22-12-09, 18:54

show us Shanghai One and Watermark lah

why you show us only the high priced ones? people want to buy the good deals leh

Why buy Shanghai One? Where else other area prices went up this came down.

Property_Owner

22-12-09, 19:29

LOL

Reporter vs LEEporter

proud owner

22-12-09, 20:59

Why buy Shanghai One? Where else other area prices went up this came down.

shanghai road condos for now will be lower than otehr becos it is surrounded by constructions .. behind Lattitude (finishing soon)
one side ..Nathan residences , front side RV SUITEs

so becos of that .. i suppose .. also Regent ?? in shanghai road .. i think can bargain 1250 psf

Reporter

22-12-09, 21:40

LOL

Reporter vs LEEporter
He made us excited with his claim of $1,200 psf without any proof or facts.

We waited patiently for him to substantiate his claim. Instead of substantiating his claim, he starts giving instructions as if the forumers here are his slaves.

Strange person!

For $1200 i can buy almost new Freehold in River Valley! or near Mohd Sultan!:doh:

Reporter

22-12-09, 22:44

离截止日还有6天 6153人抢购杜生组屋
新加坡讯
星期二, 22-12-2009, 3.30 pm

还有6天才截止申请，但女皇镇杜生预购组屋已有6153人抢购。其中以五房式和小型公寓（studio apartment）最为热卖，平均每个单位有7人申购。

《联合晚报》报道，杜生（Dawson）预购组屋共有1700多个单位。只供55岁以上者申请的小型公寓，只有40个，但287人申请，平均每个单位7人抢。

176个五房式单位已有1334人申请，平均一个单位对7.6人。

至于1102个四房式单位，则已有3838人申请；270个三房式单位有506人申请，都是超额申购。

Reporter

22-12-09, 23:33

Property_Owner

23-12-09, 00:13

Err ... jlrx ... have you stopped preaching "propertism" lately?

Otherwise, why did somebody sell his CCR property within 3 months?

Ai ya, need cash for Xmas and CNY.
cash out, cash out

jlrx

23-12-09, 00:42

Err ... jlrx ... have you stopped preaching "propertism" lately?

Otherwise, why did somebody sell his CCR property within 3 months?

It doesn't matter.

The one who sold his property will not go to "propertism" heaven; while the one who bought will take his place.

Since I don't know who bought and who sold, it doesn't matter who I meet in "propertism" heaven.

For example,

Marina Boulevard
#58-03
$1900psf
22 Nov 08

Marina Boulevard
#25-03
$3000psf
30 Nov 09

Does it matter who is that infidel who sold his Sail on 22 Nov 08? or who is the propertism faithful who bought from him?

It doesn't matter. He might as well have sold it to himself.

Only those who believe that property prices must go up in the long term will be saved; whereas those who let go when property prices were plunging are not the truely faithful.

Do you disown your children when they are sick?

Regulators

23-12-09, 00:46

Those who let go of TS at 1200-1300psf early this year are the goons. As much as I think 3kpsf for TS is overpriced, I think selling at 1200-1300psf is cheap.

It doesn't matter.

The one who sold his property will not go to "propertism" heaven; while the one who bought will take his place.

Since I don't know who bought and who sold, it doesn't matter who I meet in "propertism" heaven.

For example,

Does it matter who is that infidel who sold his Sail on 22 Nov 08? or who is the propertism faithful who bought from him?

It doesn't matter. He might as well have sold it to himself.

Only those who believe that property prices must go up in the long term will be saved; whereas those who let go when property prices were plunging are not the truely faithful.

Do you disown your children when they are sick?

proud owner

23-12-09, 02:36

Err ... jlrx ... have you stopped preaching "propertism" lately?

Otherwise, why did somebody sell his CCR property within 3 months?

arent they flippers ?

so govt is not wrong ... signs of speculations emerging

Reporter

23-12-09, 11:40

http://www.avmaroc.com/images/actualite/thumbs/aid-149162_0.jpg
Hong Kong shop space goes for record US$90,000 psf (S$127,ÖÖÖ psf)
Agence France-Presse
Hong Kong
Tuesday, 22 December 2009, 1.57 pm CCT

http://d.yimg.com/ca.yimg.com/p/091222/afp/iphoto_1261464950926-1-0jpg.jpg
The exterior of the Emperor jewellery shop on Canton Road in Hong Kong on December 22. The Hong Kong property market hit another high as Emperor International Holdings spent US$108 million to acquire the property. - Photo: Antony Dickson, AFP

A company run by Hong Kong's best-known entertainment mogul has paid a record US$108 million (S$151.7 million) for a shop in one of the city's busiest districts, a report said yesterday.

The sale of the 1,212-sqft outlet comes as the city's government tries to contain soaring property costs because of fears that they are getting out of control.

The price works out to about US$90,000 psf (S$127,ÖÖÖ psf), making it the city's most expensive retail space, the South China Morning Post reported, quoting an unnamed source.

"It is unknown if this is now the möst expensive shop in the world, but obviously it's a record in the city," real-estate agent Lawrence Wong told the daily newspaper.

The shop in Hong Kong's busy Tsim Sha Tsui district houses luxury retailer Empërör Watch & Jewellery, which is run by music tycoon Albert Yeung, the Post said.

Yeung's Empërör Entertainment Group has contracts with a host of Cantonese pop stars, who claim legions of fans in the city of 7 million.

An Emperor subsidiary, which had been leasing the space, bought the property because of "the investment value of the location and a basic need for the shop", the source told the paper.

The previous record for a Hong Kong retail space was set in May by Mr Yeung's brother, Ricky, who paid US$58,000 psf for a shop in the same neighbourhood, the Post said.

In October, Henderson Land Development said that it sold a 5-bedroom luxury residential duplex in Hong Kong's Mid-Levels area for an Asian record US$11,300 psf, or US$57 million.

Hong Kong's government is considering plans to rein in the city's real-estate prices as it grows concerned about a dangerous bubble building in the market.

The city has seen several record-breaking property sales in the past year, as wealthy mainland Chinese investors and low interest rates stoke demand.

Reporter

23-12-09, 18:11

http://www.h88.com.sg/images/h88_masthead_logo.jpg
Rëcörd price for retail shop
H88
Wednesday, 23 December 2009, 15:29

http://www.h88.com.sg/images/content/2009-12-23/walking_on_gold.jpg

Units at The Marq On Paterson Hill transacted at $5,262 psf in August 2007 and The Orchard Residences (above Ion) at $5,600 psf in October 2007. So you think our high-end condos are expensive? Wait till you hear about another ïnsänë retail shop purchase in Hong Kong - at $135,ÖÖÖ psf!

The 1,212 sqft shop is located at the busy Tsim Sha Tsui district and houses the luxury retailer Emperor Watch & Jewellery, owned by the music tycoon Albert Yeung.

At $135,000 psf, the shop transacted at $163m - you could buy 20 units at The Marq, or both Anson and VTB buildings in the CBD and still have cash left over.

I did some rough calculations; assuming we pave the entire floor of the shop in 2cm thick gold bars - it works out to be almost the same price, give or take a couple of million bucks.

I don't know about you guys, but that shop looks kinda run down, like something you'll see in Little India. What say you?

http://d.yimg.com/a/p/afp/20091222/capt.photo_1261464950926-1-0.jpg
The exterior of the Emperor jewellery shop on Canton Road in Hong Kong, which was sold for US$108 million

Property_Owner

23-12-09, 21:31

andy

23-12-09, 21:33

Hi Ladies and Gentlemen

2009 is coming to an end. What a year. Firesale, selling @ loss, overnight price shot up.....now looking back seems to be a blink.

My prayer in heart for 2010 will be...

1) All the great pals I knew in the forum plus those who are the here to share or learn whoever you are all the best for 2010. God bless you with good health. Nothing beats a healthy heart.

2) Whatever next year may bring, we just keep our fingers cross. Up or down no one can tells. It's called market movement. One man loss, one man gain....

3) Whatever words or sentences exchanged between some parties here( Included me :) ) hope you and me can forgive and forget. Sometimes may be fine to mention some pollution here and there but hope we do not has to cross the line.

Sigh....pai say. My english still needs to brush up....:(

Lastly, I be away for 2 weeks from Xmas. Promise wifey to bring her on a trip.:D

Merry Xmas and Happy New Year 2010.:cheers6:

See ya next year.
Cheers.:)

Have a safe and blessed Xmas & New Year. Hope to hear from u when you return

Reporter

23-12-09, 21:39

Hi Ladies and Gentlemen

2009 is coming to an end. What a year. Firesale, selling @ loss, overnight price shot up.....now looking back seems to be a blink.

My prayer in heart for 2010 will be...

1) All the great pals I knew in the forum plus those who are the here to share or learn whoever you are all the best for 2010. God bless you with good health. Nothing beats a healthy heart.

2) Whatever next year may bring, we just keep our fingers cross. Up or down no one can tells. It's called market movement. One man loss, one man gain....

3) Whatever words or sentences exchanged between some parties here( Included me :) ) hope you and me can forgive and forget. Sometimes may be fine to mention some pollution here and there but hope we do not has to cross the line.

Sigh....pai say. My english still needs to brush up....:(

Lastly, I be away for 2 weeks from Xmas. Promise wifey to bring her on a trip.:D

Merry Xmas and Happy New Year 2010.:cheers6:

See ya next year.
Cheers.:)
Thanks for the tips/advices thusfar.
Have a wonderful and blessed holidays!

By the way, do you need someone to cover you and manage your portfolio during this period? :D

sleek

23-12-09, 21:49

Happy Holidays Everyone! :cheers1:

Regulators

23-12-09, 22:13

Hey Pal,

Have a wonderful trip.

Hi Ladies and Gentlemen

2009 is coming to an end. What a year. Firesale, selling @ loss, overnight price shot up.....now looking back seems to be a blink.

My prayer in heart for 2010 will be...

1) All the great pals I knew in the forum plus those who are the here to share or learn whoever you are all the best for 2010. God bless you with good health. Nothing beats a healthy heart.

2) Whatever next year may bring, we just keep our fingers cross. Up or down no one can tells. It's called market movement. One man loss, one man gain....

3) Whatever words or sentences exchanged between some parties here( Included me :) ) hope you and me can forgive and forget. Sometimes may be fine to mention some pollution here and there but hope we do not has to cross the line.

Sigh....pai say. My english still needs to brush up....:(

Lastly, I be away for 2 weeks from Xmas. Promise wifey to bring her on a trip.:D

Merry Xmas and Happy New Year 2010.:cheers6:

See ya next year.
Cheers.:)

Reporter

23-12-09, 22:16

http://www.reuters.com/resources/images/logo_reuters_media_us.gif
亚洲商用房地产与货币明年走势受业界看好
路透社
英国伦敦
星期三, 23-12-2009

http://www.world-estate.com/img/sample/asia.jpg

因经济基本因素改善以及经济恢复增长，业内人士看好明年亚洲地区商用房地产和货币走势。

国际知名物业顾问公司戴德梁行表示，亚太地区商业房地产市场的投资交易额明年将保持增长，因经济恢复增长且银行体系持稳。

戴德梁行称，2009年该地区的交易活动总额达670亿美元 / 941亿新元（US$67 billion / S$94.1 billion），较去年增加22%。该公司并称，第四季的交易额为216亿美元（US$21.6 billion）。

戴德梁行亚太地区研究部门的主管戴维·格林摩根（David Green-Morgan）在一份报告中说：“尽管交易活动（在第四季）下滑，我们预计按年上升的趋势将持续到2010年。”

他说，这部分可归功于该地区大部分经济体恢复增长。此外，相对稳定的银行体系也“有助刺激借贷及改善机构配置。”

中国，澳洲和日本是地区内最活跃的市场，第四季的投资交易占总额的80%。

另据路透调查显示，明年亚洲区货币普遍升值，韩元在2010年底前料升11%。

韩元兑美元于2010年的汇价升幅将高于其他亚洲新兴市场货币，因经济基本因素改善，以及市场揣测韩国不久将升息。

根据调查，韩元兑美元汇价在2010年底前料升11%，而印度卢比明年底前料扬升6%。这两种货币将带领亚洲区内货币升势，分析员说，投资者相信亚洲的经济复苏程度将远较欧美等国家为大，吸引持续资金流入。

“我们非常看好亚洲区货币，因为它们的基本因素强劲。该区整体的货产负债情况较七国集团（G7）或10国集团（G10）为佳,”驻新加坡的花旗集团货币策略师甘地（Chintan Gandhi）说，“我们看好韩元，假如你看看它的估值，会是众多货币中最便宜之一。”

市场预期在环球金融危机期间暂停升势的人民币将会恢复升值，这将为亚洲货币加添上升压力，并减少干预制约汇率以维持竞争力的需求。

驻新加坡的Action Economics亚洲经济师科恩（David Cohen）说，“北京对人民币汇率的决定将左右区内货币的走向。”“没有任何一个亚洲经济体愿意自己的竞争力输给中国。”

分析师预期人民币将于明年下半年恢复升值，但将以渐进速度进行，料明年底前升值3%。

jlrx

23-12-09, 22:49

Hi Ladies and Gentlemen

2009 is coming to an end. What a year. Firesale, selling @ loss, overnight price shot up.....now looking back seems to be a blink.

My prayer in heart for 2010 will be...

1) All the great pals I knew in the forum plus those who are the here to share or learn whoever you are all the best for 2010. God bless you with good health. Nothing beats a healthy heart.

2) Whatever next year may bring, we just keep our fingers cross. Up or down no one can tells. It's called market movement. One man loss, one man gain....

3) Whatever words or sentences exchanged between some parties here( Included me :) ) hope you and me can forgive and forget. Sometimes may be fine to mention some pollution here and there but hope we do not has to cross the line.

Sigh....pai say. My english still needs to brush up....:(

Lastly, I be away for 2 weeks from Xmas. Promise wifey to bring her on a trip.:D

Merry Xmas and Happy New Year 2010.:cheers6:

See ya next year.
Cheers.:)
Thanks for the tips/advices thusfar.
Have a wonderful and blessed holidays!

By the way, do you need someone to cover you and manage your portfolio during this period? :D

I think Property_Owner should hire Reporter to help manage his portfolio. I wonder how he keeps track of 40+ properties. That means got 40 tenants, maintenance, repairs ... :doh:

Reporter is very on-the-ball, constantly updating the website with the latest news, so must be a good managing agent too. :p

Reporter

23-12-09, 23:18

I think Property_Owner should hire Reporter to help manage his portfolio. I wonder how he keeps track of 40+ properties. That means got 40 tenants, maintenance, repairs ... :doh:

Reporter is very on-the-ball, constantly updating the website with the latest news, so must be a good managing agent too. :p
Err ... maybe he should hire you as a "propertism" preacher?

Your preaching seems to be working in District 12.

Private Residential Units Sold in the Month of November 2009

Project Name ... Locality . Units Sold To Date . Units Sold In Month . Highest $psf . Median $psf . Lowest $psf
Vista Residences . RCR ........ 186 .......................... 7 ................................ 1,455 ............ 1,265 ............ 1,188
VR is one hell of a rider!

It has set a nëw hïgh of $1,455 psf for itself and D12.

Bravo!

august

23-12-09, 23:25

ay123

24-12-09, 08:24

Hi Ladies and Gentlemen

2009 is coming to an end. What a year. Firesale, selling @ loss, overnight price shot up.....now looking back seems to be a blink.

My prayer in heart for 2010 will be...

1) All the great pals I knew in the forum plus those who are the here to share or learn whoever you are all the best for 2010. God bless you with good health. Nothing beats a healthy heart.

2) Whatever next year may bring, we just keep our fingers cross. Up or down no one can tells. It's called market movement. One man loss, one man gain....

3) Whatever words or sentences exchanged between some parties here( Included me :) ) hope you and me can forgive and forget. Sometimes may be fine to mention some pollution here and there but hope we do not has to cross the line.

Sigh....pai say. My english still needs to brush up....:(

Lastly, I be away for 2 weeks from Xmas. Promise wifey to bring her on a trip.:D

Merry Xmas and Happy New Year 2010.:cheers6:

See ya next year.
Cheers.:)

I might not have much contribution to this forum but is really wonderful to read and gain a lot of knowledge from here........

Do enjoy your holiday and hope to hear from u soon.....CHEERS!!:cheers1:

pearly

24-12-09, 09:19

Hi Ladies and Gentlemen

2009 is coming to an end. What a year. Firesale, selling @ loss, overnight price shot up.....now looking back seems to be a blink.

My prayer in heart for 2010 will be...

1) All the great pals I knew in the forum plus those who are the here to share or learn whoever you are all the best for 2010. God bless you with good health. Nothing beats a healthy heart.

2) Whatever next year may bring, we just keep our fingers cross. Up or down no one can tells. It's called market movement. One man loss, one man gain....

3) Whatever words or sentences exchanged between some parties here( Included me :) ) hope you and me can forgive and forget. Sometimes may be fine to mention some pollution here and there but hope we do not has to cross the line.

Sigh....pai say. My english still needs to brush up....:(

Lastly, I be away for 2 weeks from Xmas. Promise wifey to bring her on a trip.:D

Merry Xmas and Happy New Year 2010.:cheers6:

See ya next year.
Cheers.:)

Merry Christmas and a Happy new year to you and to all too..
:)

Reporter

24-12-09, 13:31

Have a Merry Christmas, brothers and sisters!
Enjoy the song.

http://www.jimvallance.com/01-music-folder/images-for-music-pages/images-music-pages/img-adams-images/adams-single-covers/christmas-time-1.jpg
Music video link: http://vodpod.com/watch/1255526-bryan-adams-christmas-time

Christmas Time
Bryan Adams
Bryan Adams and Jim Vallance, © May 1985

V1 . C ............. Em .................. Am . C
...... We waited all through the year
...... For the day to appear
...... When we could be together in harmony
...... You know the time will come
...... Peace on earth for everyone
...... And we can live forever
...... In a world where we are free
...... Let it shine for you and me

C ... C
...... There’s something about Christmas time
...... Something about Christmas time
...... That makes you wish it was Christmas every day
...... To see the joy in the children’s eyes
...... The way that the old folks smile
...... Says that Christmas will never go away

V2 . C .............. Em ..... Am . C
...... We're all as one tonight
...... Makes no difference if you're black or white
...... Cos' we can sing together in harmony.
...... I know it's not too late
...... The world would be a better place
...... If we can keep the spirit
...... More than one day of the year
...... Send a message loud and clear

repeat C

B ... G ........................................................... C
...... It's the time of year when everyone's together
...... We'll celebrate here on Christmas Day
...... When the ones you love are there
...... You can feel the magic in the air
...... You know it's everywhere
.................. C
...... There’s something about Christmas time .. (pause)
...... Something about Christmas time

repeat C twice (in a note higher, i.e. D)

................. D .............................. A ............. D
...... Please tell me Christmas will never go away

Reporter

28-12-09, 11:09

I heard they are using HSR to market one of the DBSS. Is tat true?

The Peak @ Toa Payoh is marketed by HSR.

Many years ago, HDB also tasked property agents to sell their unsold HDB flats.
(8 groups of buyers fighting for 2 relaunched units in) The Peak @ Toa Payoh is in the news after we spoke. What a coincidence!

http://www.sph.com.sg/images/logo_mypaper.png
8组买家抢The Peak 两单位
我报
星期二, 24-12-2009

http://www.hsr.com.sg/img/projects/projects/thepeakatpy-aerial.jpg

位于大巴窑的The Peak@Toa Payoh私人组屋（DBSS）有2个单位昨早重新发售，引起8组买家抢购。

这大约8组在待候单（waiting list）的买家前晚接获房屋经纪的消息后，隔天在示范单位开门前就前去排队，有人甚至前晚就抵达。

2间出售的五房式单位于38与39楼，分别售价$680,000与$660,000。

有买家透露，工作人员在开门时说可能以抽签或价高者得的方式分配单位，让一大早排队的人感到不满。负责销售单位的HSR经纪行一名经纪王柄钊说，由于买家很早就出现在示范单位外，工作人员一时无法确定谁是有意购屋者，可能出现沟通问题。

据知，之前的买家可能不符合购屋收入顶限条件，或基于房贷问题及其他因素申请不通过，或放弃申请。

最后，分别在前晚11时多和昨天凌晨5时抵达的陈姓买家（27岁，服役人员）和鲍姓夫妇按照排队顺序购得2个单位。昨早9时多抵达的另一名陈姓买家（26岁，公务员）认为，之前也没有工作人员在看守，难确定谁先抵达，因此抽签比较公平。

The Peak目前还有约100多间剩余单位，但按种族分配比率只有非华族可购买。

new2mondrian

28-12-09, 11:14

show us Shanghai One and Watermark lah

why you show us only the high priced ones? people want to buy the good deals leh

Leeporter:

Do your own homework along the whole RV stretch and find your own good deals. In fact, RV is such a huge area from Robertson Quay area all the way to Jervois. Hence prices from one devt cannot be easily compared against another simply by virtue of the fact that they are in river valley.

Shanghai One is surrounded by construction. Literally open the window, throw a pebble out and it will hit a contruction plot. Rental will be depressed for the next few years to come. And not to say the view (and privacy) will be blocked once the new devts come up.

Watermark - have u gone and see? Watermark suffers from really bad water seepage issues, despite it being relatively new.

Everything looks good on paper. If u are serious abt buying, go do some legwork.

new2mondrian

28-12-09, 11:19

Hi Ladies and Gentlemen

2009 is coming to an end. What a year. Firesale, selling @ loss, overnight price shot up.....now looking back seems to be a blink.

My prayer in heart for 2010 will be...

1) All the great pals I knew in the forum plus those who are the here to share or learn whoever you are all the best for 2010. God bless you with good health. Nothing beats a healthy heart.

2) Whatever next year may bring, we just keep our fingers cross. Up or down no one can tells. It's called market movement. One man loss, one man gain....

3) Whatever words or sentences exchanged between some parties here( Included me :) ) hope you and me can forgive and forget. Sometimes may be fine to mention some pollution here and there but hope we do not has to cross the line.

Sigh....pai say. My english still needs to brush up....:(

Lastly, I be away for 2 weeks from Xmas. Promise wifey to bring her on a trip.:D

Merry Xmas and Happy New Year 2010.:cheers6:

See ya next year.
Cheers.:)

Thanks everyone for all the sharing on this forum too!
You have a good trip!

jitkiat

28-12-09, 12:04

With the remaining DBSS The Peak all for non-Chinese, how long developers must hold before they can release to Chinese?? Do you think DBSS HDB flats / Pinnacle@Duxton / Dawston Estates may finally defeat the HDB's ethnic quota policy :beats-me-man:

Reporter

28-12-09, 17:57

http://blogs.freshminds.co.uk/talent/wp-content/uploads/2009/07/bloomberg_logo.jpg
Visitor arrivals jump most in 3 years
Bloomberg
Singapore
Monday, 28 December 2009, 1.28 pm CCT

Singapore visitor arrivals in November jumped the most in 3 years, as the Hari Raya Haji holiday, held in December last year, attracted tourists from Malaysia and Indonesia.

Visitor arrivals gained 8.4% to 830,000 last month from a year earlier, the Singapore Tourism Board said in an e- mailed statement today. Arrivals from Malaysia rose 37%, while Indonesian visitors gained 20%. The board also said the 2009 “Reasons to enjoy Singapore” campaign helped spur an increase in visitors from Germany, China and Australia.

Singapore is betting on projects set to open in the coming 2 years, such as the International Cruise Terminal (ICT) and the 2 integrated resorts (IRs), to spur tourism. In October, Singapore began work on a $500 million terminal to double cruise berthing capacity and boost visitors arriving by sea. The 2 integrated resorts, Marina Bay Sands and Resorts World Sentosa, are scheduled to open in 2010.

Reporter

28-12-09, 18:18

http://sg.yimg.com/i/sg/providers/cnalogo4.gif
Increasing trend of larger property deals, says DTZ Research
Georgina Joseph
Channel NewsAsia
Monday, 28 December 2009, 1714 hrs

http://www.channelnewsasia.com/imagegallery/store/phpUx55T8.jpg

Property deals in the Singapore market just got bigger in the final quarter of this year, according to global property adviser DTZ Research.

The value of property transactions in the 4th quarter are larger compared to the trend of small deals in the first 3 quarters of 2009.

Eight transactions above S$100 million each accounted for 77% of total transaction value in the 4th quarter, which is significantly higher than the 48% in the 3rd quarter and none in the 1st and 2nd quarters.

Total investment value in the 4th quarter totalled S$2.5 billion and is similar to the amount posted in the 3rd quarter this year.

The combined amount of investment made in the 3rd and 4th quarters accounts for 83% of 2009's total investment value of S$5.9 billion.

The residential sector was the best performing sector in 2009, contributing 50% of the total transaction value. This sector also chalked up S$1.4billion or 56% of total investment sales in the 4th quarter, with deals such as the collective sale for Dragon Mansion.

The second best performer this year was retail which contributed 16% to the full year transaction value. Among the big deals in this segment is the sale of Clementi Mall in November for S$541.9 million.

Looking ahead, 2010 is expected to be a more active year due to improving market sentiment, according to DTZ Research.

The residential sector will continue to dominate in 2010, with much activity coming from the government land sales programme.

Reporter

28-12-09, 20:47

Viva
Address ........................... psf ................ Area ............. Price .............. Contract Date
6 Suffolk Walk #16-05 ..... $1,733 psf ........ 958 sqft .... $1,660,000 ..... 1 Dec 09
6 Suffolk Walk #29-06 ..... $1,801 psf ..... 1,044 sqft .... $1,880,000 ..... 9 Nov 09

Wah lau!
Flipped just before 3 months!

6 Suffolk Walk #16-05 ..... $1,733 psf ........ 958 sqft .... $1,660,000 ..... 1 Dec 09
6 Suffolk Walk #16-05 ..... $1,606 psf ........ 958 sqft .... $1,538,000 ..... 2 Sep 09
Err ... jlrx ... have you stopped preaching "propertism" lately?

Otherwise, why did somebody sell his CCR property within 3 months?
Ai ya, need cash for Xmas and CNY.
cash out, cash out
The CCRs (i.e. Viva's) need cash for X'mas and CNY.

The OCRs (i.e. Caspians) also need cash for X'mas and CNY?
While the OCRs need to wait longer for their bonus, their capital layout is only 25% of the CCRs'. Not bad right?

... but those $929 psfs for Jurong Caspian were subsales - not primary sale.

Caspian
Address ................................ psf ............... Area .......... Price ............ Contract Date

54 Lakeside Drive #04-20 ...... $929 psf ..... 463 sqft ..... $430,000 ...... 26 Oct 09
54 Lakeside Drive #04-20 ...... $723 psf ...... 463 sqft ..... $334,000 ...... 26 Feb 09

56 Lakeside Drive #04-28 ...... $929 psf ..... 463 sqft ..... $430,000 ...... 28 Sep 09
56 Lakeside Drive #04-28 ...... $805 psf ...... 463 sqft ..... $372,000 ........ 2 Mar 09

Reporter

28-12-09, 21:25

http://www.asiaone.com/a1media/site/common/top_a1_home.gif
12,583 applied for 2,670 BTO flats
AsiaOne
Monday, 28 December 2009

http://business.asiaone.com/a1media/business/12Dec09/images/20091228.094029_st_hdb_dawson.jpg

As of 2 pm today, the Housing Development Board (HDB) received a total of 12,583 applications for 4 recently launched Build-To-Order (BTO) projects.

The four projects, Montreal Dale in Sembawang, Segar Grove in Bukit Panjang, SkyVille@Dawson and SkyTerrace@Dawson in Queenstown, were launched on Dec 15.

Montreal Dale received 1,377 applications for 424 flats, Segar Grove received 1,341 applications for 528 flats, and Skyville @Dawson and SkyTerrace @ Dawson together received 9,865 applications for 1,718 flats.

About 70% of the applicants are first-time flat buyers. The rest have bought subsidised flats in the past. 95% of the flats will be set aside for first-timers.

There has been strong interest in the 2 Dawson projects, given their choice location.

Buyers who are unsuccessful in getting flats in this BTO exercise may wish to know that the next BTO launch will be held on Jan 5 next year when buyers can look forward to another 1,300 BTO flats in Choa Chu Kang and Hougang.

HDB will continue to launch more BTO projects in 2010 if there is sustained demand for new flats.

kane

28-12-09, 21:50

on HDB website, it stated that the 4rms at dawson was just under 6 times overapplied. and for the 5rms, they were amount 11 times overapplied.

sleek

28-12-09, 22:25

on HDB website, it stated that the 4rms at dawson was just under 6 times overapplied. and for the 5rms, they were amount 11 times overapplied.

http://www.h88.com.sg/images/content/2009-12-28/dawsonbto.jpg (http://www.h88.com.sg/article/Dawson%2C+Sembawang+and+Bukit+Panjang+BTO+closing+today/)

kane

28-12-09, 22:39

your figures slightly outdated. the 4rm for dawson is 6015 applications, and 5rm is 2090.

Reporter

29-12-09, 07:45

http://www.sph.com.sg/images/logo_st.png
Tourism recovers in November
Visitor arrivals and hotel occupancy up, outlook for 2010 good
Jessica Lim
The Straits Times
Tuesday, 29 December 2009, 6.00 am

http://www.straitstimes.com/STI/STIMEDIA/image/20091228/tourism-desmondwe.jpg
This time round industry players believe the figures have turned a corner, with several key tourism indicators showing strong growth. -- Photo: Desmond Wee, ST

The tourism industry's recovery is getting under way, with 830,000 visitors arriving here last month - a 8.4% jump over the same month last year.

This is the biggest increase for the year and only the second time in 18 months that arrivals have grown.

The first was in September, helped largely by the Formula One motor race, but that upturn was short-lived, with arrivals dipping again in October.

This time round industry players believe the figures have turned a corner, with several key tourism indicators showing strong growth.

Hotel occupancy, for example, was up to a year-high of 84.3% last month, after languishing in the 70%-odd region for much of the year.

The Singapore Tourism Board (STB) attributed this partly to aggressive airline promotions and special travel packages rolled out to lure visitors back to Singapore.

Reporter

29-12-09, 07:52

http://www.sph.com.sg/images/logo_st.png
NTUC targets job growth
Labour chief says aim is to get Singapore back to full employment
Jeremy Au Yong
The Straits Times
Tuesday, 29 December 2009, 6.00 am

http://www.straitstimes.com/STI/STIMEDIA/image/20091228/jantuc29.jpg
Labour chief Lim Swee Say gave a bullish outlook for the job market in the coming year, saying that NTUC plans to get Singapore back into full employment.

After a year of being on the defensive, the labour movement now wants to go on the offensive.

On Tuesday, labour chief Lim Swee Say gave a bullish outlook for the job market in the coming year, saying the National Trades Union Congress (NTUC) wants to get Singapore back to full employment next year as well as ramp up efforts for groups like the PMETs (professionals, managers, executives and technicians), who have been severely hit in this downturn.

'This year was the year of the defensive play - save jobs and keep retrenchment down,' he said.

'The year 2010 is going to be the year of the offensive play. We are going all out to score goals, to pursue higher economic growth, to pursue stronger job creation, to lower the unemployment rate and at the same time, increase the employment rate.'

Mr Lim's target is for an overall unemployment rate of under 3%, a full employment level Singapore has enjoyed for most of the past 10 years. In fact, the unemployment rate in 2007 was 2.1%.

As for boosting employment, he sought not just to draw groups like women and older workers back to work, but also make better use of PMETs.

Reporter

29-12-09, 17:55

The GENERAL has arrived ...

http://i0.sinaimg.cn/ent/m/c/2007-11-26/U1584P28T3D1807302F358DT20071126100449.jpg
She has arrived too.

http://sg.yimg.com/i/sg/providers/cnalogo4.gif
Former HK actress Cherie Chung (钟楚红) to marry a Singaporean businessman
Channel NewsAsia
Hong Kong
Tuesday, 29 December 2009, 1700 hrs

http://www.channelnewsasia.com/imagegallery/store/phpGMivnM.jpg
Chow Yun Fat (left) and Cherie Chung (right) in the 1987 film 'An Autumn's Tale'

Former Hong Kong actress Cherie Chung (钟楚红) is set to marry a Singaporean businessman next year, according to Hong Kong media reports.

Chung, 49, lost her husband of 16 years, Hong Kong advertising guru Mike Chu in 2007 to stomach cancer.

When she was in Singapore earlier this year to complete legal procedures regarding the late Chu's properties and possessions, a wealthy Singaporean businessman reportedly began courting her. They had a whirlwind romance and intend to tie the knot in Singapore some time next year.

Chung made her film debut in 1980 and left an impression on audiences with her charm and beauty. She retired after marrying Chu in 1991 and became a lady of leisure.

When her husband passed away, she was grief-stricken and became a recluse, seldom leaving her house. Her friends urged her to return to acting and take her mind off her late husband but she insisted she "was not prepared".

Recently, things had changed. She was seen heading to the market for groceries on occasion and smiled much more often. She was also spotted purchasing a lotus lantern, traditionally lit by people seeking a smooth love life or marriage.

Hong Kong media reports said she was rejuvenated by love but preferred to keep mum and downplay her love life, though she did tell her close friends her view on having a companion.

"Single life is great, but having someone to share your joy and sorrow with is a very blissful thing," Chung said.

jlrx

29-12-09, 22:10

She has arrived too.

You should use this pic.

http://www.51kuaibo.com/pic/uploadimg/20090531151300524.jpg

That looks more like a warrior from the Property Liberation Army.

Reporter

29-12-09, 23:28

http://sg.yimg.com/i/sg/providers/cnalogo4.gif
Housing prices set to rïsë, but govt committed to affordable homes
Joanne Chan
Channel NewsAsia
Tuesday, 29 December 2009, 2315 hrs

http://www.channelnewsasia.com/imagegallery/store/phpW9uMl0.jpg
Mah Bow Tan

It has been a roller coaster ride for the Singapore property market this year, dipping in the 1st quarter before registering a sharp rebound.

Market watchers have said housing prices will continue to rïsë next year, spurred by a recovering economy and the opening of the integrated resorts (ÏRs).

The robust turnaround in the property sector was something no one would have predicted.

Singapore entered the year in the midst of a recession, and the outlook was bleak.

But as the stock market rallied in March, sentiments improved.

Market watchers said pent-up demand over the last year and a "herd instinct" led to a buying frenzy.

Speaking to MediaCorp, National Development Minister Mah Bow Tan acknowledged it has been an exceptional period.

He said: "Nobody, no matter how prescient, no matter how clever, would have been able to predict that this is what is going to happen this year. All of us were caught off-guard ... I did not expect the prices to go up. But the point is, are we able to respond to this change. And the answer is yes."

Fears of a property bubble forming saw the government introducing measures such as removing easy financing schemes to cool the private homes sector.

The measures included removing the interest absorption scheme and interest only loan to temper the exuberance of the market.

Public housing supply was also ramped up, to signal that there are enough flats and there is no need to panic.

Eugene Lim, associate director, ERA Asia Pacific, said: "The market will probably stabilise for now. But I would say that when the IR opens, and when more international investors do come into Singapore, we may expect another rün. Especially now, in the recent 1, 2 months, we have noticed a pick up in hïgh-ënd properties priced above S$2,ÖÖÖ psf."

Älthöügh housing prices are set to rïsë next year, Mr Mah said the government is closely monitoring the situation and will take action, if necessary. For example, Mr Mah said more land will be released to developers if needed. He also promised first-time buyers that HDB will have more Build-To-Order exercises, if there is demand."

But Mr Mah said calls for the government to artificially dampen prices is nöt the solution to affordability.

He said: "The whole question is, do we peg HDB flats to the market, or whether we follow another system. And that other system is what some countries use.

"In other words, I sell you a flat at fixed price, when you sell the flat, you have to sell it back to me also at a fixed price. In other words, you are not allowed to profit from the flat. There you can keep flat prices fixed."

Mr Mah said a flat is nöt just a roof over one's head, büt also an asset that will ïncrëäsë with time.

http://www.channelnewsasia.com/imagegallery/store/phpVnaG5M.jpg

ay123

30-12-09, 08:37

You should use this pic.

http://www.51kuaibo.com/pic/uploadimg/20090531151300524.jpg

That looks more like a warrior from the Property Liberation Army.

She is my super idol!!! i think that she is the most beautiful actress and till now no one is comparable to her. :spliff:

cheerful

30-12-09, 08:40

She is my super idol!!! i think that she is the most beautiful actress and till now no one is comparable to her. :spliff:

Yeah ... she is a real beauty. That pix posted by jlrx not an accurate portrayal leh :p

Reporter

30-12-09, 11:44

http://www.dtz.com/portal/templates/template0005/ddTZffWdWSRaaVUbZYSWUSSdaQRQYaQc/dtz-logo.gif

随着发展商继续添加土地储备，今年已经复苏的私宅市场估计明年将继续是整个楼市的推动力。

- 蔡楚芬 (Chua Chor Hoon)
. 研究部主管
. 戴德梁行
. 星期四, 30-12-2009

Reporter

30-12-09, 15:14

http://i266.photobucket.com/albums/ii268/kcc0002/Today-1.jpg
Mah Bow Tan Interview: Ässët that keeps growing
Esther Ng
Today
Wednesday, 30 December 2009

http://i266.photobucket.com/albums/ii268/kcc0002/PropertyResalePriceIndex.jpg

For those would-be flat buyers who hope property prices do not rise, National Development Minister Mah Bow Tan paints an alternative scenario.

Would they prefer a fixed-price system, whereby home-owners, when they want to sell their Housing and Development Board (HDB) flat, must return it to the authorities for the price they paid for it?

In this scenario, no one is allowed to profit from the sale of the flat. As a result, prices are kept low.

“It’s almost like renting the flat to somebody,” Mr Mah said as he spoke to MediaCorp about housing issues in a year when even he was “caught off guard” by how the HDB resale market trended north in a recession year.

“Nobody, no matter how prescient, no matter how clever, would have been able to predict that this was what was going to happen,” he said.

Nonetheless, Mr Mah believes the current system is far superior to one that keeps housing cheap through a non-market-based system.

“Because it gives greater benefits to the homeowner. It gives them a stäkë in Singapore ... it also allows them to pröfït from the growth that Singapore enjoys because as we grow, the flat value goes up,” he said.

“Once they own the flat, it’s an asset. And this asset can be cashed out in old age, be used to finance their retirement. It’s a store of välüë for them.”

Mr Mah sees no conflict in the twin objectives of providing affordable housing and creating assets for Singaporeans that will grow over time.

“We have to do both for the simple reason that a flat buyer today will be a flat owner tomorrow ... For that to happen, we must make sure that flats are affordable,” he said.

“Otherwise, how can the flat buyer be an owner?”

Prices are still affordable, said Mr Mah, as evidenced by how 80% of Singaporeans who buy new flats can pay for their mortgages using only 21% or less of their income — in other words, using only their CPF contributions.

'At least one BTO launch a month'

Looking to next year, Mr Mah said the opening of the two integrated resorts (IRs) will lead to higher demand for housing. “But we’ll increase the supply as well.

“We höpë demand will gö üp because that means the two IRs are successful, and if the two IRs are successful, tourism numbers will go up and employment will go up and the economy will benefit.”

Pundits are predicting that property prices, public housing included, will continue to increase next year.

The beneficiaries of this, and of any property upturn in general, will be those who own more than one property, according to Ngee Ann Polytechnic real estate lecturer Nicholas Mak, as they can “keep one for themselves, sell one off or rent the other one out”.

For flat buyers waiting for prices to dip first, Mr Mak added: “No one knows when the next cycle will take place, or where the bottom is, so they have to get on the bandwagon.”

According to Mr Mah, people who bought homes because they were “afraid prices are going to go up even further” contributed to rising prices this year, with pentup demand and the “usual demand” from first-time buyers and permanent residents being the other factors.

Flat buyers, he said, can look forward to at least one Build-To-Order launch a month next year, which translates to some 12,000 new flats on offer.

“They will be in good locations, not necessarily in mature estates, but in newer towns near MRT stations, facilities in exciting neighbourhoods, so don’t rush,” said Mr Mah.

JohnTan

30-12-09, 17:11

For those would-be flat buyers who hope property prices do not rise, National Development Minister Mah Bow Tan paints an alternative scenario.

Would they prefer a fixed-price system, whereby home-owners, when they want to sell their Housing and Development Board (HDB) flat, must return it to the authorities for the price they paid for it?

In this scenario, no one is allowed to profit from the sale of the flat. As a result, prices are kept low.

“It’s almost like renting the flat to somebody,” Mr Mah said as he spoke to MediaCorp about housing issues in a year when even he was “caught off guard” by how the HDB resale market trended north in a recession year.

-------------------------

Yes, Mr Mah, I for one would like to buy one of your "no price increase" HDB flats.

Imagine in 1989 i buy a 5 rm flat for 100k. The economy improves and I earn more and use the extra cash to fund my lifestyle and invest in other asset classes or maybe even private property.

Now we are in 2009. This HDB flat is no longer new, has leakage problem, spalling concrete, needs extra maintenance for repairs. I return to HDB for 100k sounds like a great deal. FREE RENTAL FOR 20 YEARS!

Wait a minute you say, there is no free lunch, must pay interest on the laon for the 100k one. I reply fair enough, the interest payment is the rental I have to pay, 2.6% CPF interest rate sounds like a cheap rental rate to me.

Lets say I stay there even longer till 2039, stay for almost free for 50 years and return the flat to HDB at 100k, I pay more in interest but I get protection! I have a buyer, HDB is my buyer for my 50 year old flat. HDB is my insurance cover for a buyer in an illiquid market.

Has anyone here tried to sell a 50yr old HDB flat? Will there be buyers for the remaining 49 years left to go? You say HDB will SERS my unit. Read my footnote on this.#

So Mr Mah, can i be the first to pay a 400k deposit to rent your HDB for 99 years?

For those who are unawares still, all HDB owners are renting from HDB anyway. Legally they can SERS you and ask you to leave just like a tenant being evicted! Check with your laywer on this :D

So I think Mr Mah's proposal is a superior idea to the current situation.

----------------------------------

# For your info the majority of flats built in SG are in the 80s so they are will all be 20 to 30 years old today. Once they hit 40 you better be SERS or you wont find buyers easily! They will have problems getting bank loans.

Can u imagine HDB SERS all the flats built in the 80s? Construction boomz or HDB bust? I myself cannot forsee HDB SERS even half of all HDB flats built in the 80s.

august

30-12-09, 20:54

haha good one johntan ~ :)

sleek

30-12-09, 21:09

Might as well say all Public Housing should be on Rental basis and not lease sale. Then anyone who wish to make $$$ from properties do so in the Private markets. :D

Like what I posted last week too. :D
http://forums.condosingapore.com/showpost.php?p=80853&postcount=1585

jlrx

30-12-09, 21:30

Yes, Mr Mah, I for one would like to buy one of your "no price increase" HDB flats.

Imagine in 1989 i buy a 5 rm flat for 100k. The economy improves and I earn more and use the extra cash to fund my lifestyle and invest in other asset classes or maybe even private property.

Now we are in 2009. This HDB flat is no longer new, has leakage problem, spalling concrete, needs extra maintenance for repairs. I return to HDB for 100k sounds like a great deal. FREE RENTAL FOR 20 YEARS!

To test whether these "no price increase" HDB flats will be popular, all we need to do is conduct a simple experiment.

Go to Marine Parade and ask Granny Yeo and Grandpa Sharma whether they are willing to return their HDB flats to Mah Bow Tan for $100,000.

If they say "YES!!! YES!!! Free rental for 35 years!!! Worthless in another 15 years!!! Take it back! Take it back!!! Give me $100,000!!! HOORAY!!!" ... then the scheme will be workable.

The Straits Times

Scenic drive

HDB flats with great views are in hot demand.

Tay Suan Chiang

Sat, Jun 23, 2007

http://www.asiaone.com/migrated/wdu/gardening/greenhavens/gallery/pics/20070623_001c.jpg

Madam Yeo Wee Geck on her 20th-storey Marine Parade unit. She can catch the sunrise as well as enjoy the sea view from her flat.

Mr Chris Koh, director of Dennis Wee Properties, says prices for private properties have soared over the past year due to the influx of investment from foreigners and buyers' confidence in the Singapore economy.

And that has also boosted the demand for HDB flats in good locations and on higher floors.

He cites the example of a five-room HDB flat in Marine Parade that has unblocked views of the sea. He says that, three years ago, it would have fetched about $350,000.

"A year ago, it could sell for $400,000. Today, buyers are willing to pay $500,000," he says.

But even though their flat may now fetch a higher price, some home owners are unwilling to sell.

Housewife Yeo Wee Geck, 85, is one. The grandmother of six lives with her only daughter and their maid in a five-room HDB flat in Marine Parade. She bought the 20th-storey unit in the early 1970s for $30,000.

She gets to watch the sun rise from her flat, as well as enjoy views of East Coast Park and the sea. "It is so breezy here. I won't move out," she says.

http://www.asiaone.com/migrated/wdu/gardening/greenhavens/gallery/pics/20070623_001b.jpg

Block 29 Marine Crescent. RETIREE P.R. Sharma, 81, has a view from his 20th-storey flat that many Singaporeans would envy.

His five-room HDB point-block flat overlooks East Coast Park and the city skyline in the distance. He can even see the sea from a side window and from the bedroom and living room.

He gets to enjoy the sunrise from his flat, watch planes land and take off from nearby Changi airport and count the number of tankers dotting the sea off East Coast Park.

He paid $35,500 for the flat in 1974, and says he was offered about $900,000 for it nearly 20 years ago. Property agents say the current selling rate for such a flat is $500,000.

He adds that even if he was offered $1million today, he would not sell it. He gets about three flyers a day from agents looking for sellers but he throws them in the bin without even looking at them.

Reporter

31-12-09, 09:27

"I am flabbergasted at Roubini’s comment about bubbles because there is nöt a single market in the world making all-time highs except gold, US Government Bonds, Cocoa, and the Sri Lankan stock market. That’s hardly reason to call for a bubble. So, I am most perplexed about this alleged bübblë which is out there."

http://www.jimrogers.com/img/message.jpg
- Prof. Jim Rogers, Jr.
. Creator
. Rogers International Commodities Index
. Wednesday, 30 December 2009

JohnTan

31-12-09, 09:52

Mr Mah did not say anything about taking back old HDB flats at original price.:tsk-tsk:

He only talked about selling new flats at fix price.

Mr Mah's words below....

"In other words, I sell you a flat at fixed price, when you sell the flat, you have to sell it back to me also at a fixed price. In other words, you are not allowed to profit from the flat. There you can keep flat prices fixed."

All old HDB lats can operate the same way as they do now. Only new HDB flats have this special buy back clause. The scheme is very workable but i doubt they will do so.

To test whether these "no price increase" HDB flats will be popular, all we need to do is conduct a simple experiment.

Go to Marine Parade and ask Granny Yeo and Grandpa Sharma whether they are willing to return their HDB flats to Mah Bow Tan for $100,000.

If they say "YES!!! YES!!! Free rental for 35 years!!! Worthless in another 15 years!!! Take it back! Take it back!!! Give me $100,000!!! HOORAY!!!" ... then the scheme will be workable.

The Straits Times

Scenic drive

HDB flats with great views are in hot demand.

Tay Suan Chiang

Sat, Jun 23, 2007

http://www.asiaone.com/migrated/wdu/gardening/greenhavens/gallery/pics/20070623_001c.jpg

Madam Yeo Wee Geck on her 20th-storey Marine Parade unit. She can catch the sunrise as well as enjoy the sea view from her flat.

Mr Chris Koh, director of Dennis Wee Properties, says prices for private properties have soared over the past year due to the influx of investment from foreigners and buyers' confidence in the Singapore economy.

And that has also boosted the demand for HDB flats in good locations and on higher floors.

He cites the example of a five-room HDB flat in Marine Parade that has unblocked views of the sea. He says that, three years ago, it would have fetched about $350,000.

"A year ago, it could sell for $400,000. Today, buyers are willing to pay $500,000," he says.

But even though their flat may now fetch a higher price, some home owners are unwilling to sell.

Housewife Yeo Wee Geck, 85, is one. The grandmother of six lives with her only daughter and their maid in a five-room HDB flat in Marine Parade. She bought the 20th-storey unit in the early 1970s for $30,000.

She gets to watch the sun rise from her flat, as well as enjoy views of East Coast Park and the sea. "It is so breezy here. I won't move out," she says.

http://www.asiaone.com/migrated/wdu/gardening/greenhavens/gallery/pics/20070623_001b.jpg

Block 29 Marine Crescent. RETIREE P.R. Sharma, 81, has a view from his 20th-storey flat that many Singaporeans would envy.

His five-room HDB point-block flat overlooks East Coast Park and the city skyline in the distance. He can even see the sea from a side window and from the bedroom and living room.

He gets to enjoy the sunrise from his flat, watch planes land and take off from nearby Changi airport and count the number of tankers dotting the sea off East Coast Park.

He paid $35,500 for the flat in 1974, and says he was offered about $900,000 for it nearly 20 years ago. Property agents say the current selling rate for such a flat is $500,000.

He adds that even if he was offered $1million today, he would not sell it. He gets about three flyers a day from agents looking for sellers but he throws them in the bin without even looking at them.

august

31-12-09, 10:02

Good one.

So we see there are many ways the PAP govt can do to instantly stabilise the public housing prices - basically to take those who wish to profit from public housing out of the equation.

:D

The desirable social consequences are rise in household disposable income, which can raise domestic consumption, more incentive for PR to convert to citizenship, less freeloaders. But of cos, less $$ for the PAP govt hahaha ~

Reporter

31-12-09, 12:27

Have a Happy and Prosperous 2010, brothers and sisters!
Enjoy the song from these 2 BB old men and their AA ex-wives.

http://hitparade.ch/cdimages/abba-happy_new_year_s.jpg
Music video link: http://www.youtube.com/watch?v=dcLMH8pwusw (http://www.youtube.com/watch?v=dcLMH8pwusw)

Happy New Year
ABBA
Göran Bror Benny Andersson .and. Björn Kristian Ulvaeus, © 1980

I ... (piano) . Asus2 ...... E/A ...... A ...... E/A

...... A .................. Bm7
V1. No more champagne
...... And the fireworks are through
...... Here we are, me and you
...... Feeling lost and feeling blue
...... It's the end of the party
...... And the morning seems so grey
...... So unlike yesterday ....... Esus4 ...... E
...... Now's the time for us to say .....

......................... A
C ... Happy new year
...... Happy new year
...... May we all have a vision now and then
...... Of a world where every neighbour is a friend
...... Happy new year
...... Happy new year
...... May we all have our hopes, our will to try
...... If we don't we might as well lay down and die
...... You and I

...... A ................ Bm7
V2. Sometimes I see
...... How the brave new world arrives
...... And I see how it thrives
...... In the ashes of our lives
...... Oh yes, man is a fool
...... And he thinks he'll be okay
...... Dragging on (hoo-hoo), feet of clay (hoo-hoo)
...... Never knowing he's astray
...... Keeps on going anyway

repeat C

...... A ................. Bm7
V3. Seems to me now
...... That the dreams we had before
...... Are all dead, nothing more
...... Than confetti on the floor
...... It's the end of a decade
...... In another ten years time
...... Who can say (hoo-hoo) what we'll find (hoo-hoo)
...... What lies waiting down the line
...... In the end of eighty-nine

repeat C

E ... (piano) . Asus2 ...... E/A ...... A ...... E/A ..... (fade)

Reporter

31-12-09, 13:08

http://www.theedgesingapore.com/images/logo.png
Done Deals
Regency Park resale prices cross $1,700 psf
The Edge
Monday, 21 December 2009

http://www.cks.com.sg/expat/expatimages/regencyparkextsmall.jpg
Regency Park

Regency Park may be 19 years old, but the 292-unit condominium has recently been on the radar of property investors. On Nov 20, 3 caveats were lodged for its units, with average prices ranging from $1,584 to $1,727 psf.

Alexz Wan, an associate with Propmax Real Estate and a property marketing agent who specialises in the project, says investors are betting that new launches in the neighbourhood will be priced higher. In the prestigious Nathan Road enclave, TID Pte Ltd (a joint venture between Hong Leong Holdings and Mitsui Fudosan) is likely to launch a 65-unit development next year, and Kajima Overseas Asia has an empty plot in the neighbouring Bishopswalk, which has yet to be launched. Regency Park is easily the largest development there, sitting on a sprawling freehold 500,000 sqft site on Nathan Road, and is accessible via Grange and River Valley Roads.

In the River Valley Road neighbourhood, CapitaLand’s 127-unit Latitude (formerly Drag- on View Mansion) on Jalan Mutiara, was relaunched in July, and units have been sold at $1,662 to $1,930 psf. The most recent caveats in the development were in October, when two 1,615 sqft units were sold for $2.781 million ($1,722 psf) and $2.965 million ($1,836 psf) respectively.

The attraction of Regency Park is the size of the units, with 3-bedrooms ranging from 2,228 to 3,283 sqft; 4-bedrooms from 3,455 to 3,649 sqft; and penthouses at 6,049 to 6,415 sqft. The units are sought after by Cäücäsïän expatriates because of their spaciousness and large balconies, says Wan.

Depending on layout, unit size, condition of the apartment and views, monthly rental rates are $11,000 to $12,000 for some of the 3-bedroom apartments, and $14,000 to $16,000 for 4-bedroom apartments, says Wan. “Most of the owners in the project are professional investors,” he adds. “They really take care of their apartments.”

Wan is marketing 3 units in the project, ranging from a 3,175 sqft 3-bedroom apartment going for $5.18 million ($1,631.50 psf) to a 4-bedroom 3,649 sq ft unit priced at $6.5 million ($1,781 psf). Most of the potential buyers are looking at cash flow and capital-upside potential, says Wan.

Knight Frank associate Benny Yeo is marketing a 2,269 sqft apartment at Regency Park with an indicative price of $4 million. The unit is currently tenanted at a monthly rental rate of $9,200, with at least another year outstanding in the lease, says Yeo. “A lot of Ïndönësïäns are investors in this property, and a lot of the ïntërëstëd parties in the project today are also Ïndönësïäns,” he says, adding that the main attraction are the large unit sizes and the ease of renting the units out, with very short vacancy periods between leases.

Regency Park was developed by Allgreen Properties almost two decades ago and positioned as a high-end condo with only large units starting from the three-bedroom apartments. Most recently, a sixth-floor 3,649 sqft four-bedroom apartment was sold for $6.3 million, or $1,727 psf, according to a Nov 20 caveat lodged with URA Realis. That was the third time the apartment had changed hands in the last 13 years. There could have been more transactions, but URA Realis database records go back only to January 1995.

The last time the 4-bedroom unit changed hands was in May 2007 for $6.2 million, or $1,699 psf. The previous owner had purchased the property in a resale at $3.825 million, or $1,048 psf, in March 1996, an appreciation of 62% in slightly over a decade.

The other unit at Regency Park that changed hands in the resale market recently was a second floor 2,260 sq ft, 3-bedroom apartment sold for $3.58 million, or $1,584 psf, in November. The last time the unit changed hands was in November 2006, when it was sold for $2.68 million, or $1,186 psf — a 33% capital gain in the last three years. The unit last changed hands in September 1999 for $2.18 million, or $964 psf.

The transaction prices of Regency Park apartments have made quite a comeback since the start of the year. When the market was looking rather bleak in the first 4 months, units were changing hands at $1,001 to $1,178 psf. Transaction prices picked up in August, when apartments changed hands at $1,494 to $1,603 psf.

Farther down Nathan Road is the 91-unit boutique development, Nathan Residences, by niche developer Tat Aik Property. It was launched in June at $1,200 to $1,300 psf. In the most recent new sale at Nathan Residences, a 786 sqft 2-bedroom apartment on the 4th floor was sold for $974,850, or $1,241 psf. The highest transacted price for the new project, scheduled for completion in 2012, was for another 2-bedroom apartment of a similar size on the 11th floor, sold for $1.13 million, or $1,450 psf, in September. “[Nathan Residences] is a different kind of product and appeals to a different audience. It’s a boutique development with mainly 1- and 2-bedroom apartments,” notes Wan.

In the meantime, it looks like foreign investors are gravitating towards the lärgë 3- and 4-bedroom apartments at Regency Park, and paying a premium for space.

Teana

31-12-09, 22:01

You should use this pic.

http://www.51kuaibo.com/pic/uploadimg/20090531151300524.jpg

That looks more like a warrior from the Property Liberation Army.
this one better, 4 years ago, more recent

http://image2.sina.com.cn/ent/s/h/2005-06-23/U638P28T3D761184F358DT20050623214019.JPG

jlrx

01-01-10, 00:25

Reporter

03-01-10, 23:31

http://www.sph.com.sg/images/logo_lhzb.png
李资政：我国未来十年会稳健发展
联合早报
星期六, 2-1-2009

http://news.omy.sg/OMYMEDIA/image/News/LocalNews/201001/20100102_WD_lky_img_main.jpg
资政在接受National Geographic杂志专访时，谈到对新加坡前途的期许时，指出我们必须确保所建立的一套行之有效的机制能继续运作。- 图: 档案照片

内阁资政李光耀对未来十年的新加坡有信心，因为他确信在现有的领导班子领导下，我国在可预见的十年内将能继续完好地运作。至于更长远的未来，则取决于政治领导层能否持续进行更新，以引进有才干的年轻领导人来接班。

他在接受National Geographic（《国家地理》）杂志专访，谈到对新加坡前途的期许时，指出我们必须确保所建立的一套行之有效的机制能继续运作。

“我认为未来十年在现有领导团队的掌舵之下，新加坡会稳健发展。至于他们是否能在未来十到十五年取得好政绩，则取决于能否引进较年轻的决策者，熟知政府的运作、以廉洁为本、强调政绩，并以民众的利益为决策依归，而非以私利为出发点。”

李资政认为新加坡建国至今所作的各项努力都必须加以延续，以促使国家继续取得成功。因为一旦治理不当，我国很可能由成功走向失败，一切打回原形。

在谈到新加坡未来的领导人所面对的最艰巨挑战时，他指出是如何保持同样的发展步伐、各级同样的治理水平及维持社会融合，同时使整个社会更加凝聚，国民都接受更好的教育。

“在100年后，纽西兰还会是一片绿草地，牛羊成群，也会是一个绿意盎然的美丽国家。然而100年之后，我不确定新加坡是否还会存在。这取决于我的接任者怎么做。这是我们所面对的情况。未来的命运由不得我来决定。”

他说：“我所能做的就是确保在我离开时，新加坡的体制仍完好有效、政府廉洁高效，掌权的领导人懂得治理这个国家，并引进人才来延续政府的高效运作。这是我所能办到的。”

李资政指出，他早已不直接参与政府的决策，而是扮演政府的“远程雷达”角色。

“所有顶尖的执行人员都知道他们是直接同政府部长接触，决策也由部长们决定。我的工作是发挥远程雷达的功能，寻找发展的机会和捕捉可能对新加坡构成威胁的事情。”

他在这次话题广泛的专访中谈到新加坡的治国方针与未来挑战，并分享个人对新加坡社会的看法，触及方方面面的问题。针对部长薪金课题，他提到政府在推出高薪养廉的政策之后，已在领导人收入问题上至少解决了一半的问题。

“然而，我们（的薪金）总是落在后头。因为每当经济走下坡，我们就不能加薪。如果经济向上走，私人企业的薪金也会在短期内快速上调，我们却不能这么做，因为人民会申诉部长的薪金加得太多了。”

他表示所谓的高薪养廉，就是政府支付部长一定薪金，让他们靠这份薪水打点自己的一切。不像在其他国家，部长虽然薪金不高，但有许多的额外津贴和优惠，就连一些最低薪的部长，他们的妻子都穿得珠光宝气，住的也是豪宅。

“所以，新加坡人必须决定他们是要部长领低薪，然后出现像英国议会那样的把戏，议员把伦敦和郊区其他房子的装修费都报公账，还是支付部长一笔合理的薪金，不另给津贴。那是你的薪金，你就用这笔钱去买车或买其他东西。”

至于公务应酬的开支都将列出来，由部长的秘书记录并交给审计官员审查。所以每项账目都明明白白，民众也一清二楚。”

Reporter

04-01-10, 12:57

http://blogs.freshminds.co.uk/talent/wp-content/uploads/2009/07/bloomberg_logo.jpg
Singapore’s 4th-quarter home prices climb 7.3%
Bloomberg
Singapore
Monday, 4 January 2009, 1.25 pm CCT

Singapore’s private residential prices rose 7.3% in the 4th quarter from the previous 3 months, easing from the biggest rally in 28 years, according to the Urban Redevelopment Authority.

The price index of private residential property climbed to 165.5 from 154.3 in the previous 3 months, when it rallied 15.8%, the Urban Redevelopment Authority said in a statement on its website today. For the full year, prices gained 1.7%, rebounding from 2008’s 4.7% slump.

Home sales for the 11 months to end-November totalled more than 14,000, near the full-year record of 14,800 units sold in 2007, according to calculations by Bloomberg. Still, transactions have slowed since peaking in July after the government introduced measures to cap property price swings and as the recovery in the nation’s economy faltered.

Singapore’s gross domestic product contracted an annualized 6.8% from the previous three months last quarter after climbing a revised 14.9% from July to September, the trade ministry said in a statement today. That was worse than the median estimate for a 2.1% decline in a Bloomberg News survey of eight economists.

Prices for private homes in the so-called core central area (CCR) rose 7.1% last quarter and climbed 9.5% elsewhere in central Singapore (RCR), the Urban Redevelopment Authority said. They increased 5.8% across other parts of the island (OCR), according to the statement.

The data is based on transactions in the first 10 weeks of the quarter, the government agency said. It will provide an update in about 4 weeks.

Reporter

04-01-10, 13:16

http://www.sph.com.sg/images/logo_mypaper.png
Pinnacle@Duxton 1房间（single room）出租$1,000
我报
星期一, 4-1-2009

http://www.archifest.sg/2009/img/architour/Pinnacle-Duxton.jpg

新组屋的钥匙才领到不久，本地最高组屋达士岭（The Pinnacle@Duxton）的一些屋主已迫不及待刊登广告高价出租房间，1个房间月租（single room monthly rental）要价高达$1,000，比隔一条马路的广东民弄（Cantonment Close）组屋贵至少$300。

一些有意出租整个四房式单位（whole 4-room flat）的屋主更是要价$3,000。如果租出去，相信是我国租金最高的组屋之一。

不过，这些要出租的单位推出市场已两三周，仍乏人问津。

正尝试以月租$1000帮一对年轻夫妇出租单位里一个房间的经纪林淑玲坦言，开出的租金确实偏高，但她坚信达士岭地点优越，而且高楼单位可看到市区景色，具有独特吸引力。

这对夫妇是为照顾父母，才决定暂时不入伙，并向建屋发展局（HDB）申请出租整个单位。他们原本要以$3,000出租这个“位于20楼以上”的单位，并吸引了七八对夫妻洽询，不过没能成交。后来屋主改变初衷，决定只出租房间，但至今无人询问。

以屋主们目前的开价来看，如果有人想在达士岭租下整个单位，包括定金、租金和经纪佣金在内，第1个月就得拿出近$10,000，这恐怕不是一般人所能承担。

有经纪指出，达士岭组屋的设施未竣工，许多单位也正在装修，第1年的居住环境未必理想。因此以$600到$700的价格出租房间比较合理。

HDB去年第3季的数据显示，位于市区的四房式单位租金中位数是$2,200，五房式是$2,400。

根据HDB规定，新组屋的屋主不能马上出租整个单位，受津贴者须先住满5年，不受津贴者则须住满3年，而且屋主事先须获HDB同意。

Reporter

04-01-10, 13:34

http://sg.yimg.com/i/sg/providers/cnalogo4.gif
Prices of HDB flats at rëcörd hïgh in Q4 2009
Mustafa Shafawi
Channel NewsAsia
Monday, 4 January 2010, 1415 hrs

http://www.channelnewsasia.com/imagegallery/store/phpgUvdQu.jpg
HDB flats

Prices of Housing and Development Board (HDB) flats are at their highest on rëcörd.

According to preliminary estimates from the HDB on Monday, the Resale Price Index of public flats stood at 150.7 in the 4th quarter of 2009 – highest on record since data was compiled in 1990.

Estimates show that prices of resale flats rose 3.8% in the last 3 months of 2009, the fastest pace of growth since the 3rd quarter of 2008. For the whole of last year, prices of resale flats rose about 8%.

HDB said flat buyers can look forward to 1,300 build-to-order (BTO) flats in Choa Chu Kang and Hougang, which will be offered for sale on Tuesday.

The housing board said it will continue to launch more BTO projects this year if there is sustained demand for new flats, and will ensure that there is an adequate supply of flats to meet prevailing housing needs.

The HDB is due to release detailed resale price data and public housing data for the 4th quarter on January 22.

kane

04-01-10, 20:44

$1000 for one room at duxton? people must be pretty desperate for a view there...

Regulators

04-01-10, 23:05

If the view itself is worth a million bucks, what is 1000 to rent a room there?

$1000 for one room at duxton? people must be pretty desperate for a view there...

kane

05-01-10, 07:23

If the view itself is worth a million bucks, what is 1000 to rent a room there?

As a tenant, it's not worthwhile to pay 1k for one room and live with the restrictions of the landlord in the same household.better off tenanting a 4rm at bukit merah or telok blangah for 2k with a friend.

xebay11

05-01-10, 09:41

As a tenant, it's not worthwhile to pay 1k for one room and live with the restrictions of the landlord in the same household.better off tenanting a 4rm at bukit merah or telok blangah for 2k with a friend.

Different strokes for different folks.

Reporter

05-01-10, 11:38

http://www.h88.com.sg/images/h88_masthead_logo.jpg
4Q 2009 private residential property price index is out
H88
Monday, 4 January 2010, 13:51

http://www.h88.com.sg/images/content/2010-01-04/ura_flash_property_price_index.jpg
Caribbean at Keppel Bay

URA has just launched their flash property price index for private residential properties. Guess what? It seems we are back to mid-2007 prices. Which of course leads us to say ... what economic crisis?

Property prices have risen 7.3% in the last quarter alone. The previous (3rd) quarter of 2009 had the sharpest increase of 15.8%. Looking at the chart in the URA report, it seems prices are back to the mid-2007 level.

Will the luxury market lead another property bull run in 2010 or will caution take over the exuberance we saw last year?

http://i266.photobucket.com/albums/ii268/kcc0002/URAPPIQ42009.jpg

Reporter

05-01-10, 19:34

http://www.h88.com.sg/images/h88_masthead_logo.jpg
Highest resale HDB prices ever - what will happen next
H88
Tuesday, 5 January 2009, 13:08

Unless you've been living under a rock (or in a condo or landed house), the biggest news today is not the two new BTOs - its that HDB resale prices have reached the highest ever.

Flash estimates released by HDB show that prices rose 3.8% in the last quarter, bringing the total increase for 2009 to about 8%. Why?

http://www.h88.com.sg/images/content/2010-01-05/hdb_resale_price_main.jpg

Well ... jokes aside, valuations and COVs have been skyrocketing and it seems to continue unabated. I've put together a little chart below to show how ridiculous the situation has become and where we could be going:
http://www.h88.com.sg/images/content/2010-01-05/hdb_resale_prices_all_time_high.gif

Ultimately, I think this is one issue only the government can resolve. Will 2010 be the year which new price records will be broken? Or will it be a big 'bubble' bursting? Frankly, my income has not risen about 40% in the past three years to be in line with these prices - things look to be only getting tougher.

jlrx

05-01-10, 21:38

http://www.h88.com.sg/images/content/2010-01-05/hdb_resale_prices_all_time_high.gif

I've also put together my little chart for the private property market.

Is the decade starting 2010 going to be a repeat of the 1990's :scared-4: or 2000's :doh:?
http://i305.photobucket.com/albums/nn211/jlrx_bucket/PropertyPrice1993To2009WithWay.jpg

Reporter

05-01-10, 22:52

Err ... maybe he should hire you as a "propertism" preacher?

Your preaching seems to be working in District 12.
Oh, jlrx!
Your preaching is also working in District 9.

Yes, agree with you Condorich.
Just look at how The Cosmopolitan has changed.
It has just hit $1,900 psf!
Incredible, isn't it?

The Cosmopolitan
Address ............................ psf ............... Area .......... Price ............ Contract Date
200 Kim Seng Road #23-01 .... $1,900 psf .... 1,399 sqft ... $2,658,000 .... 18 Dec 09

kane

05-01-10, 22:57

a replica of the 2000 is a more logical path.

Reporter

05-01-10, 23:38

My goodness!
We know condos have been breaking high but ECs ...
Just look at Nuovo EC.
It has broken its last high of $637 psf with $646 psf!

Nuovo
Address .................................... psf ............. Area ........... Price ......... Contract Date
23 Ang Mo Kio Avenue 9 #15-10 ..... $646 psf ..... 1,281 sqft .... $828,000 ..... 6 Nov 09
jlrx, are you that good?
Your preaching seems to be working on ECs too!

The 5-year-old Nuovo EC has just set a new high of $674 psf!
This is higher than the $667 psf set by the sold-out La Casa EC in a primary sale.
Unbelievable!

Nuovo
Address .................................... psf .............. Area ........... Price .......... Contract Date
25 Ang Mo Kio Avenue 9 #08-16 ..... $674 psf ..... 1,119 sqft .... $755,000 ..... 18 Dec 09

Private Residential Units Sold in the Month of March 2008

Project Name . Locality . Units Sold To Date . Units Sold In Month . Highest $psf . Median $psf . Lowest $psf
La Casa .......... OCR ....... 441 ....................... 21 ......................... 667 .............. 569 ............. 521

kane

06-01-10, 00:10

HDB prices for Q1 should be a little more interesting with the promise of multiple releases of BTO projects.

jlrx

06-01-10, 00:10

Oh, jlrx!
Your preaching is also working in District 9.

jlrx, are you that good?
Your preaching seems to be working on ECs too!
Amitabha!

Propertism is spreading far and wide!

I hope that one day everyone in Singapore, including the non-believers, will be convinced that properties are the best investment. :cheers1:

a replica of the 2000 is a more logical path.
"2000 is a more logical path" ... are you thinking of Osama Bird Fluden ?!! :scared-3: :scared-3: :scared-3:

http://www.brownstoner.com/PLG%20tower%20with%20birds.jpg

proud owner

06-01-10, 00:12

a replica of the 2000 is a more logical path.

so what happened in 2000 ? and 1990 ?

Reporter

06-01-10, 01:14

Amitabha!

Propertism is spreading far and wide!

I hope that one day everyone in Singapore, including the non-believers, will be convinced that properties are the best investment. :cheers1:

..........
..........
Yup! Spreading far and wide.
As far as Sengkang in District 19!

Even The Quartz's primary-sale high of $824 psf is no match for 6-year-old Compass Height's resale-high of $825 psf.

Compass Heights
Address ............................... psf ............. Area ........ Price .......... Contract Date
11 Sengkang Square #13-43 ..... $825 psf ..... 689 sqft .... $568,000 ..... 8 Oct 09

kane

06-01-10, 07:34

Not something as drastic as bird flu. But a more flat trajectory is a more likely scenario going forward.

Reporter

06-01-10, 10:52

http://www.sph.com.sg/images/logo_bt.png
Preview of Urban Suites draws interest
Asking price for the units said to start from $2,500 psf
The Business Times
Wednesday, 6 January 2010

http://i45.tinypic.com/2rr9an9.jpg

Previews are open for önly multiple unit purchases, yet this project is already drawing interest – pointing towards better days for the high-end residential market.

Urban Suites, located at the former Char Yong Gardens site at Hullet Road, is attracting serious buyers from overseas, according to sources.

BT understands that the asking price for these freehold units starts from around $2,500 psf. It is currently available to those who will buy at least 2 units and there is nö news as to when it will be open to those who wish to purchase only a single unit.

..........
..........

In a report yesterday, OCBC Investment Research maintained its positive view on the high-end sector, saying that ‘it is likely to benefit most from the opening of the two integrated resorts (ÏRs) this year’.
Wah lau!
Why nö to purchasing only 1 unit?

Not fair leh!
Like that only buyers like "Property_Owner" etc. can buy lah.

Err ... discrimination in disguise?

Reporter

06-01-10, 10:54

http://www.sph.com.sg/images/logo_bt.png
Phase one of CapitaLand’s Urban Suites fülly söld
Plans to launch 2nd phase in Ïndönësïä next week
The Business Times
Wednesday, 6 January 2010

CapitaLand started preview sales in Singapore for phase one of its Urban Suites condominium just before the Christmas holidays in December 2009. Located in the Cairnhill area in Singapore’s prime Orchard Road shopping district, Urban Suites is a high-end development with 165 apartments. Under 1st phase, a total of 60 units were released and sold to buyers who were prepared to purchase more than 1 unit. All 60 units were sold at prices ranging from S$2,400 to S$2,7ÖÖ psf.

CapitaLand plans to launch the 2nd phase, comprising approximately 50 units, in Jakarta, Ïndönësïä, next week.

Ms Patricia Chia, CEO of CapitaLand Residential Singapore, said: “Urban Suites is located in the heart of the Orchard Road district, Singapore's most chic and vibrant lifestyle and shopping area. The location is popular among many international and local homebuyers and sophisticated investors looking for a choice residential and lifestyle destination. We are pleased with the strong sales of Urban Suites. Approximately twö-thïrds of the buyers are international homebuyers from countries including Chïnä, Australia and Canada. The majority of the buyers purchased two units each. The successful launch of Urban Suites at the threshold of the new year is a testament of homebuyers’ confidence in the fundamentals of the Singapore economy and growth potential of our high-end property segment.”

Urban Suites sits on a 8,665 sqm (93,274 sqft) freehold site (former Char Yong Gardens) bounded by Cairnhill Road, Hullet Road and Saunders Road. Designed by Kerry Hill Architects, the 165-unit development is a contemporary architectural statement comprising two 20-storey towers and one 17-storey tower. Buyers have a choice of unit types namely 2-, 3-, and 4-bedroom apartments as well as duplex and triplex penthouses. These elegant homes range from 97 sqm to 438 sqm (about 1,044 sqft to 4,715 sqft). Residents will enjoy a full suite of recreational facilities within the condominium, including a lap pool, Jacuzzi pool, gymnasium, fitness facilities and BBQ area.

Temporary Occupation Permit for the condominium is expected to be obtained in 2013.

Urban Suites is developed by CapitaLand Residential Singapore together with its joint venture partner. CapitaLand is the lead development manager for the project, responsible for the full spectrum of sales & marketing, product design and development, and project management.

Urban Suites is well-located within walking distance of shopping malls and a host of dining and entertainment facilities. It enjoys great transport connectivity via the Somerset MRT station as well as the nearby Central Expressway (CTE). The condominium is located near popular malls such as ION Orchard, Mandarin Gallery and 313@Somerset. Good schools in the vicinity include Anglo-Chinese Junior School, Chatsworth International School and the Overseas Family School. Urban Suites is also adjacent to Urban Resort Condominium, a boutique development by CapitaLand.

Reporter

06-01-10, 12:13

http://www.h88.com.sg/images/h88_masthead_logo.jpg
The Shore Residences and Urban Suites selling well
H88
Wednesday, 6 January 2010, 12:06

http://www.h88.com.sg/images/content/2010-01-06/theshore_main.jpg

If you are still sitting on the fëncë about getting a 1-bedroom apartments at The Shore Residences, don't bother. All of them have been snapped up already ... and dön't say we didn't wärn you!

In total at least 183 units were sold by 1st January 2010. Other configurations such as the 2- and 3-bedroom apartments are still flying off the shelves according to the developer, Far East Organization.

Over in District 9, Urban Suites a luxury condominium has sold all its 60 units in phase one. Prices ranges between $2,400 and $2,700 psf and according to The Edge, the second phase will be launched in Jakarta, Indonesia next week.

It sure looks like 2010 is starting with a bïg bäng for property!

jlrx

06-01-10, 16:38

Wah lau!
Why nö to purchasing only 1 unit?

Not fair leh!
Like that only buyers like "Property_Owner" etc. can buy lah.

Err ... discrimination in disguise?

Wonder whether Property_Owner has again "thrown in a few cheques" for this Urban Suites?

If so then you can buy from him.

Since you are fellow forumer, he may flip it to you for only 20% profit. :spliff:

Reporter

06-01-10, 19:15

Reporter

06-01-10, 20:00

Wonder whether Property_Owner has again "thrown in a few cheques" for this Urban Suites?

If so then you can buy from him.

Since you are fellow forumer, he may flip it to you for only 20% profit. :spliff:
Maybe the islander is busy buying another villa on the island that he missed Urban Suites?

http://sg.yimg.com/i/sg/providers/cnalogo4.gif
YTL's Sentosa Cove development sees 5Ö% take up rate
Jonathan Peeris
Channel NewsAsia
Wednesday, 6 January 2010, 1757 hrs

http://3.bp.blogspot.com/_aFSOen-RwsM/SwZ8c7lfylI/AAAAAAAAA2k/JMni24eP5nk/s400/kasara+Villa+by+the+Lake.jpg
Kasara - The Lake

Malaysia-based YTL Corporation is officially launching "Kasara - The Lake", a collection of 13 luxury villas in Singapore's Sentosa Cove.

6 of the 13 villas previewed have already been bought by buyers from Singapore, Europe and the Asia-Pacific region at prices ranging from S$14 million to S$22 mïllïön.

Villas range in sizes from 9,000 sqft, with two good-sized parcels of more than 14,000 sqft.

Kasara is the only residential property in Sentosa Cove with views of the lake and the world-class Serapong golf course.

Margaret Thean, managing director of property consultancy DTZ, said the high take up rate of the development during the preview demonstrates the optimism of market sentiment and confidence in Singapore's lüxüry property sector.

She added that market sentiment will be further strengthened with the completion of developments around the Marina Bay Financial Centre (MBFC) and the 2 iconic integrated resorts (ÏRs) later this year.

http://www.ytl.com.my/images/top_05.gif

proud owner

06-01-10, 21:00

Err ... maybe I can fly to Jakarta to buy a Phase 2 unit?

Why in Ïndönësïä? Why not in Singapore? Discrimination again?

becos spore and sporeans are supposed to make money from Indonesians and other foreigners mah ..

so developer sell high high to them .. and they can hold forever .. cos no one will buy from them

if market fall next yr or later this year .. at least our conscientious developer dont feel bad cos they sell to foreigners ..not sporeans

where got let them take profit on us ?

NEVER buy any property in a bull market if the seller is a foreigner ahhaha

Laguna

06-01-10, 21:05

Thanks to the power of Internet, I extracted some figures for sharing

Supply

Public Housing by HDB
http://www.hdb.gov.sg/fi10/fi10221p.nsf/0/d4a0f107613b79944825766200236310/$FILE/Key%20Statistics.pdf (http://www.hdb.gov.sg/fi10/fi10221p.nsf/0/d4a0f107613b79944825766200236310/$FILE/Key%20Statistics.pdf)

Number of flats built
2001-2005 55000
2006-2008 11019
2009 - 10,000 ?
2010 15,000 BTO

The BTO and those flats built/sold recently, will only available in the resale market in 8-10 years times. (4 years construction and 5 years before can be sold in open market)

Private properties : number available from 2001 to 2009
Have some difficulties to find the number....any forumers could help out pl

Demand

Singapore Population Growth
http://www.singstat.gov.sg/stats/keyind.html#popnarea (http://www.singstat.gov.sg/stats/keyind.html#popnarea)

Year 2000, 4,000,000
Year 2009 5,000,000
Annual Increase 100,000, particularly after year 2005
2005 4,265,000
2006 4,401,400
2007 4,588,600
2008 4,839,400
2009 4,987,600

With the demand matching to the supply, and we see

http://www.hdb.gov.sg/fi10/fi10221p.nsf/0/d4a0f107613b79944825766200236310/$FILE/Key%20Statistics.pdf (http://www.hdb.gov.sg/fi10/fi10221p.nsf/0/d4a0f107613b79944825766200236310/$FILE/Key%20Statistics.pdf)

http://www.ura.gov.sg/pr/graphics/2010/pr10-01a.pdf (http://www.ura.gov.sg/pr/graphics/2010/pr10-01a.pdf)

Demographic is one of key reasons impacting on the property prices

Laguna

06-01-10, 21:08

duplicated, network problem

proud owner

06-01-10, 21:10

jlrx

06-01-10, 22:02

http://sg.yimg.com/i/sg/providers/cnalogo4.gif
Prices of HDB flats at rëcörd hïgh in Q4 2009
Mustafa Shafawi
Channel NewsAsia
Monday, 4 January 2010, 1415 hrs

http://www.sph.com.sg/images/logo_bt.png
Phase one of CapitaLand’s Urban Suites fülly söld
Plans to launch 2nd phase in Ïndönësïä next week
The Business Times
Wednesday, 6 January 2010

http://i266.photobucket.com/albums/ii268/kcc0002/Today-1.jpg
Off to a good start for The Shore
Today
Tuesday, 5 January 2010

The new year saw new sales washing up on the shores of Far East Organization as more than 50% of units released in its latest project have been sold. Located at the junction of Amber and East Coast roads, The Shore Residences is a four-tower development with 408 units. Launched on 1 January 2010, a total of 183 of the 338 units released have been sold.

http://sg.yimg.com/i/sg/providers/cnalogo4.gif
YTL's Sentosa Cove development sees 5Ö% take up rate
Jonathan Peeris
Channel NewsAsia
Wednesday, 6 January 2010, 1757 hrs

Kasara - The Lake

Malaysia-based YTL Corporation is officially launching "Kasara - The Lake", a collection of 13 luxury villas in Singapore's Sentosa Cove.

6 of the 13 villas previewed have already been bought by buyers from Singapore, Europe and the Asia-Pacific region at prices ranging from S$14 million to S$22 mïllïön.

WOW ... 2010 is even more explosive than 2007, with fire coming from all directions!!! :scared-4:

Looks like the Property Liberation Army is attacking every part of Singapore, like in the Battle of Normandy! :scared-3:

Alamak! My troops are still not ready yet! :doh:

Unlike Reporter's paratroopers, who have already landed in November 2009.

http://www.usswisconsin.org/Pictures/Big%20Guns/011%20Night%20salvo.JPG

http://www.armybase.us/wp-content/uploads/2009/03/the-high-mobility-artillery-rocket-system-himars-multiple-launch-rocket-system.jpg

http://nestorpatoo.files.wordpress.com/2009/09/hydrogen_bomb_toroidal_cloud.jpg

kane

06-01-10, 22:10

wow, looks like nowadays if you're not buying multiple units, you're not invited to the preview party.

Reporter

06-01-10, 22:22

wow, looks like nowadays if you're not buying multiple units, you're not invited to the preview party.
Actually, CapitaLand was very kind at the preview party.

You are allowed to attend with your family members and accumulate your purchases. Otherwise, you just need to buy 2 units.

The foreigners appreciated CapitaLand's kindness and duely rewarded CapitaLand.

"It was a tall order: buyers were required to purchase at least 2 units at the plush new CapitaLand project Urban Suites in the Orchard area.

But they enjoyed a 1% discount. As well, CapitaLand was flexible and allowed purchases by family members to count towards the multiple unit requirement.

In just a matter of weeks, the first 60 units on offer at the 165-unit condo spread across three stylish towers have been snapped up, mainly by foreigners.

.........."

kane

06-01-10, 22:52

let me get this straight, so when they invite you to the preview, you can don't buy if you don't like right? but if you do buy, you must buy at least 2 units correct?

jlrx

07-01-10, 00:55

Err ... maybe I can fly to Jakarta to buy a Phase 2 unit?

Why in Ïndönësïä? Why not in Singapore? Discrimination again?
so developer sell high high to them .. and they can hold forever .. cos no one will buy from them

Yup, proud owner is right!

Jakarta is the birthplace of the Propertism religion.

Jakarta has the highest concentration of devout Propertists who believe that properties should only be bought, and not sold.

Last time when I spoke about Propertism, one agent asked whether I was from Jakarta. I said no, I was just a missionary.

On the other hand, most Singaporeans have weak faith in Propertism, keep questioning about poor rental yields, high conservancy charges, whether East Coast would sink because it was built on reclaimed land, West Coast face the port, whether Osama would fly an aeroplane into Marina Bay, burglars would enter landed houses, Bukit Timah would flood, Sentosa got ghosts, next year got bird flu, this and that, and other irrelevant things.

Regulators

07-01-10, 15:03

Another thing about singaporeans buying property is every darn thing has to be near MRT. To them 1km to MRT is considered damn far :doh:

On the other hand, most Singaporeans have weak faith in Propertism, keep questioning about poor rental yields, high conservancy charges, whether East Coast would sink because it was built on reclaimed land, West Coast face the port, whether Osama would fly an aeroplane into Marina Bay, burglars would enter landed houses, Bukit Timah would flood, Sentosa got ghosts, next year got bird flu, this and that, and other irrelevant things.

focus

07-01-10, 15:59

Another thing about singaporeans buying property is every darn thing has to be near MRT. To them 1km to MRT is considered damn far :doh:\

What!? 1km! .. Even 500m is considered too far! :) :)
I need a coffeeshop, provision store, 7-11 and ATM within 250m!
A bus stop should be less than 100m!
Then must have million dollar scenery of lush greeneries..and skies..and best if can see glimpse of water features.

xebay11

07-01-10, 16:12

\

What!? 1km! .. Even 500m is considered too far! :) :)
I need a coffeeshop, provision store, 7-11 and ATM within 250m!
A bus stop should be less than 100m!
Then must have million dollar scenery of lush greeneries..and skies..and best if can see glimpse of water features.

Sounds like a good HDB will fit all the description. :D

ay123

07-01-10, 16:20

Sounds like a good HDB will fit all the description. :D

so afterall HDB flat is still the best!!! is cheap, near mrt, coffeeshop,atm,ntuc,wet market....you name it you have it!! BUT BUT BUT why people still want to buy private :D

moneyspinner

07-01-10, 16:22

Sounds like a good HDB will fit all the description. :D

A condo development with HDB facilities/amenities will be perfect, especially with a big piece of freehold land!:D

teddybear

07-01-10, 17:31

Because HDB is 99 years lease-hold, have no facilities, poor sound-proofing (you can hear what people are talking downstairs in the void deck), parking need to pay extra mah! :D
Furthermore, HDB you will usually see dead cock-croaches lying all around on the floor for a few days before the sweepers will sweep away (seems like nowsdays the sweepers work only once or twice a week?), some people feeding pigeons (hundreds of pigeons will gather around during feeding time and provide free bombs everywhere) and stray cats. You also get people playing football in the void deck (free "bom bom" music to your ears).

so afterall HDB flat is still the best!!! is cheap, near mrt, coffeeshop,atm,ntuc,wet market....you name it you have it!! BUT BUT BUT why people still want to buy private :D

jwong71

07-01-10, 18:34

Because HDB is 99 years lease-hold, have no facilities, poor sound-proofing (you can hear what people are talking downstairs in the void deck), parking need to pay extra mah! :D
Furthermore, HDB you will usually see dead cock-croaches lying all around on the floor for a few days before the sweepers will sweep away (seems like nowsdays the sweepers work only once or twice a week?), some people feeding pigeons (hundreds of pigeons will gather around during feeding time and provide free bombs everywhere) and stray cats. You also get people playing football in the void deck (free "bom bom" music to your ears).

As well as..

Funeral events or malay marriage events with music blasting through whole day. And the motor-siao blowing their exhaust,tuning to the music.

teddybear

07-01-10, 18:48

Actually there are more, like:
- litters draining down from high floors very often.
- Cars parked in multi-storey car park got scratched, windows' smashed and things in cars got stolen.
- No place to get water to wash in open car park (MSCP have or not?)
- Seen kids glue-sniffing and smoking in void decks.
.............................

As well as..

Funeral events or malay marriage events with music blasting through whole day. And the motor-siao blowing their exhaust,tuning to the music.

focus

07-01-10, 19:58

Sounds like a good HDB will fit all the description. :D

Haha.. u got it , bro! :)
I'm now living in one such fine HDB..

Reporter

07-01-10, 20:38

Yup, proud owner is right!

Jakarta is the birthplace of the Propertism religion.

Jakarta has the highest concentration of devout Propertists who believe that properties should only be bought, and not sold.

Last time when I spoke about Propertism, one agent asked whether I was from Jakarta. I said no, I was just a missionary.

On the other hand, most Singaporeans have weak faith in Propertism, keep questioning about poor rental yields, high conservancy charges, whether East Coast would sink because it was built on reclaimed land, West Coast face the port, whether Osama would fly an aeroplane into Marina Bay, burglars would enter landed houses, Bukit Timah would flood, Sentosa got ghosts, next year got bird flu, this and that, and other irrelevant things.
You aren't from Jakarta but is your Mickey Mouse from Jakarta?

Anyway, your Ipoh Lane MM just broke his resale high at $1,327 psf!

16 Ipoh Lane #18-04 Freehold $1327 452 $600k 08 Dec 09
16 Ipoh Lane #17-06 Freehold $1250 452 $565k 26 Nov 09
16 Ipoh Lane #13-06 Freehold $1217 452 $550k 04 Nov 09
16 Ipoh Lane #08-06 Freehold $1194 452 $540k 23 Oct 09

Got the word 'Heights' in condo name means price will keep pushing new highs?

moneyspinner

07-01-10, 21:29

Six luxury villas on Sentosa sold
http://www.h88.com.sg/images/content/2010-01-07/kasara_the_lake_sentosa_cove.jpgIf you have $15m - $20m lying around, up for grabs is Kasara The Lake, a series of ultra-luxurious Sentosa Cove Good Class Bungalows (GCBs). "Kasara" is derived from "kasaaraah", a sanskrit word for "lake" according to the spec sheet, which also means it is named "Lake The Lake" if translated.

These babies are huge, 9,000sqft at the minimum, with the largest put on sale at about 15,000 sqft. Prices work out to about $1,500 psf. Some of these units also have an unobstructed view of Serapong golf course and lake along with luxurious sunken Living and Dining Pavilions surrounded by water. Each unit comes with two sheltered car park lots and one driveway lot.

Six of thirteen were sold yesterday. The buyers consisted of three Singaporeans, two foreigners and a PR. As we predicted, this year seems to be the year of the luxury market.

Reporter

07-01-10, 21:43

http://www.sph.com.sg/images/logo_lhzb.png
经济持续复苏豪宅买家纷入场
龚慧婷
联合早报
星期四, 7-1-2010

随着经济持续复苏，本地与海外买家纷纷进入豪宅市场，特别是海外买家明显回流。

马来西亚的杨忠礼(YTL)机构位于升涛湾（Sentosa Cove)的Kasara湖滨别墅，在去年11至12月的三个周末，卖出了6个单位（将近一半），单位售价都在1400万元以上，其中一个1万5000平方英尺的优质洋房(GCB)单位，还以超过2200万元的价格出售。

这个项目的本地和海外买家各占一半。买下该优质洋房的相信是一名亚洲买家。

嘉德置地的高档项目Urban Suites从圣诞前夕开始预售60个单位（第一阶段），至今已售罄，尺价介于每平方英尺2400至2700元。买家中，有三分之二是外地人，包括中国、澳洲和加拿大买家。

位于乌节经禧地区的Urban Suites，是茶阳花园（CharYong Gardens）的前地段。项目的单位面积介于1044至4715平方英尺。预计会在2013年竣工。

Urban Suites单位一次须至少买两个

嘉德置地也为Urban Suites推出新颖的促销配套，买家必须一次至少买下两个单位，因此，嘉德指出，大多数买家都买下两个单位，售出单位以三卧房居多。

但假设一个单位是1044平方英尺，以2600元的尺价来计算，要买两个单位，买家至少要支出530万元。

针对这个买多单位的特别计划，嘉德置地发言人受询时指出，买家能与家人一起买下两个不同单位。与嘉德的其他项目一样，两个单位各可获得1％的折扣，不再享有其他优惠。发言人说，这个特别行销策略目前还适用。

Urban Suites一共有165个单位，嘉德也计划下个星期到印尼推出第二阶段的约50个单位。

嘉德房产开发(Capitaland Residential)新加坡总裁谢昭白说，乌节路地段向来受到许多海外和本地买家和投资者青睐。60个单位的买家中，大多各别买下两个单位。在新旧年交接时刻，嘉德成功推出这个项目，显示买家对新加坡经济的基本面有信心，并看好高档房地产的增长潜能。

嘉德置地是在2007年6月，以4亿2000万元，收购茶阳花园地段。若包括4700万元的发展费，土地总成本为容积率每平方英尺1788元。项目是与美资金融服务集团旗下的瓦霍维亚发展(Wachovia)联手发展。茶阳花园的一些前业主相信也买下新项目的单位。

另一方面，即将在本星期五正式推出的Kasara湖滨别墅，共有13个单位，在预售时推出7个单位，目前已卖出6个。买家除了本地人外，来自亚太地区和欧洲。别墅最小的面积是9000平方英尺，已比岛上其他别墅大。

杨忠礼机构：显示市场信心恢复

http://property.zaobao.com/images6/private100107.jpg
杨忠礼机构在升涛湾南翼人造岛屿丽沙岛上的18栋濒水别墅，目前已售出11个单位。在09年，发展商也以1950元的尺价，卖出一个单位给一名香港买家，总值约1657万元。项目的绘测师是曾设计名牌服装店阿曼尼（Giogio Armani）店面的克罗迪奥（Claudio Silverstrin）。（设计图）

杨忠礼机构（新加坡）国际房地产董事陈碧敏认为，能在11、12月的传统私宅淡季卖6个平均尺价1610元的单位，除了反映这个项目的独特性外，也显示富裕人士对高档豪华楼市的信心已恢复。目前，要价已上涨到每平方英尺1700元。

这个项目由本地DP Architects操刀，这些位于升涛湾北翼的别墅，走的是亚洲热带风情路线，似建在湖上，也面向圣淘沙实拉蓬（Serapong）高球场。这个99年地契的项目竣工日期是2012年6月。

杨忠礼机构在升涛湾一共有两个发展地段，另一个是位于升涛湾南翼的人造岛屿——丽沙岛（Sandy Island）。丽沙岛包括18栋濒水别墅，正在建造中。从08年10月正式推出以来，已售出11个单位。

在09年，发展商也以1950元的尺价，卖出一个单位给一名香港买家，由于面积较小，单位价约1657万元。

集团是在2007年三月以9000万元，即每平方英尺617元，买下丽沙岛。目前，别墅的要价已上涨到每平方英尺2100元。

海外买家也回流

由于升涛湾是唯一允许外地人在本地拥有有地房地产的地方，因此，这里的别墅向来受到海外买家特别青睐。经济好转，海外买家(overseas buyers)也开始回流。

一名不愿透露姓名的Kasara买家在接受本报电访时表示，她买下一个9600平方英尺的别墅(She bought a 9,600 sqft villa)，打算投资，因为这个市场活力十足，她也拥有(also owns)卓锦豪庭(Orchard Residences)的一个单位，在夏威夷也拥有一些濒水房地产(also owns some waterfront properties in Hawaii, U.S.)。

这名现年33岁，出生于大溪地法属玻利尼西亚(born in Tahiti, French Polynesia)的买家，在本地已居住一年半(resides here for 1½ years)，她相信自己将会是活跃的房地产投资者，她过去经营家族事业，目前则“全职”在本地修读中文(studying Chinese here)。

她透露，自己有三名子女(3 children)，若新加坡在十年后依然如现在一样治安良好，活力十足，她打算让孩子在这里念大学。

Reporter

07-01-10, 22:27

http://www.dowjones.com/images/dj-logo-footer.gif
Li Ka-shing: Will Keep Raising Cheung Kong, Hutchison Stakes
Aries Poon and Joyce Li
Dow Jones Newswires
Hong Kong
Thursday, 7 January 2010

http://www.smh.com.au/ffximage/2005/10/14/ka_shing1_wideweb__430x283.jpg
Li Ka-shing

Tycoon Li Ka-shing said Thursday he will continue to raise his stakes in flagship companies Cheung Kong Holdings Ltd. and Hutchison Whampoa Ltd. after a slew of recent purchases.

Asked by reporters whether he will continue to accumulate shares, Li said: "Certainly."

Li has bought 15.08 million Hutchison shares since October and 29.3 million Cheung Kong shares since September. Market watchers said there could be a slew of corporate actions in the pipeline, but Li declined to comment, saying he has "confidence in the companies."

Separately, Li said he doesn't believe a property bubble is forming in Hong Kong, and said he believes the property market will perform well.

Reporter

07-01-10, 22:41

http://www.sph.com.sg/images/logo_tnp.png
Sell flat for $300,000 profit? No way!
Out of 60 residents polled, 58 say they are staying put in popular HDB estate
Desmond Ng
The New Paper
Thursday, 7 January 2010

Residents in a Bukit Merah housing estate have been plagued by cold calls, brochures, flyers from property agents bugging them to sell their homes.

Sometimes residents even get accosted by agents at lift landings, they say.

Because of its promixity to town, prices of flats in the Kim Tian Road estate are among the highest of the 25 public housing estates.

The New Paper spoke to 60 residents living in the four blocks there and almost all were unhappy with the hounding and the flyers.

While residents there stand to make a sizeable profit, 58 in 60 residents interviewed said they are not interested in selling.

jlrx

07-01-10, 22:47

so afterall HDB flat is still the best!!! is cheap, near mrt, coffeeshop,atm,ntuc,wet market....you name it you have it!! BUT BUT BUT why people still want to buy private :DBecause HDB is 99 years lease-hold, have no facilities, poor sound-proofing (you can hear what people are talking downstairs in the void deck), parking need to pay extra mah! :D
Furthermore, HDB you will usually see dead cock-croaches lying all around on the floor for a few days before the sweepers will sweep away (seems like nowsdays the sweepers work only once or twice a week?), some people feeding pigeons (hundreds of pigeons will gather around during feeding time and provide free bombs everywhere) and stray cats. You also get people playing football in the void deck (free "bom bom" music to your ears).As well as..

Funeral events or malay marriage events with music blasting through whole day. And the motor-siao blowing their exhaust,tuning to the music.Actually there are more, like:
- litters draining down from high floors very often.
- Cars parked in multi-storey car park got scratched, windows' smashed and things in cars got stolen.
- No place to get water to wash in open car park (MSCP have or not?)
- Seen kids glue-sniffing and smoking in void decks.
.............................

You forgot ... O$P$
http://www.straitstimes.com/STI/STIMEDIA/image/20091128/shark-melvin.jpg
http://www.asiaone.com/a1media/business/11Nov07/top_news_loans3.jpg

http://www.asiaone.com/a1media/business/11Nov07/top_news_loans1.jpg

jlrx

07-01-10, 23:06

You aren't from Jakarta but is your Mickey Mouse from Jakarta?

Anyway, your Ipoh Lane MM just broke his resale high at $1,327 psf!

Mickeymousation has spread to Ipoh Lane! :cheers1:

If Ipoh Lane can sell at $1,327 psf, there is no reason why Orchard Road cannot sell at $7,231 psf.

They just need to Mickeymousize it to 100 sf, and each apartment will only be around $723k.

Who won't want to own an Orchard Road apartment for $723k?

As long as you keep it below a million, it will sell like hot cakes!

http://www.sph.com.sg/images/logo_tnp.png
Sell flat for $300,000 profit? No way!
Out of 60 residents polled, 58 say they are staying put in popular HDB estate
Desmond Ng
The New Paper
Thursday, 7 January 2010

Propertism has spread to the heartland! :cheers1:

Now everyone is beginning to believe in the Propertism religion and realises that properties should only be bought, and not sold.

58 out of 60 is 97% !!!

It would be good if the number is 59 out of 60.

The target of Propertism is not 100%. We need one person to sell, so as to set a benchmark.

The one who sells will have no competitive sellers, but lots of buyers.

All we need is to close one HDB flat at $ 1.88 million, and immediately evey HDB dweller in Singapore will feel very rich.

Everyone else just hangs on to his flat forever, and feel rich.

That is the Nirvana of Propertism Heaven. :cheers1:

proud owner

08-01-10, 01:07

As well as..

Funeral events or malay marriage events with music blasting through whole day. And the motor-siao blowing their exhaust,tuning to the music.

then again ... during chinese new year .. still can find make shift Mee rebus stall at the void desk ..

so good .. so convenient

jwong71

08-01-10, 01:10

then again ... during chinese new year .. still can find make shift Mee rebus stall at the void desk ..

so good .. so convenient

There goes our peaceful weekend,and sunday for a afternoon nap.:scared-4:
TV volume got to onz louder..

Reporter

08-01-10, 11:27

gfoo

08-01-10, 11:55

bro pple like me engrand helicoptered one, catch no ball. can put up links so we can google translate esp the prev article?

stalingrad

08-01-10, 12:03

Li Ka Shing saying that there is no bubble in the real estate market? Isn't that the same as the pope saying that there is god, or the same as bill clinton saying that he did not inhale? Or the same as a hooker saying that *** is good for you?

the same as Kwek leng Beng saying people uses the deferred payment scheme not to speculate?

jlrx

08-01-10, 14:06

http://www.singtaousa.com/singtao-usa.gif
李嘉诚看好今年香港楼市
星岛日报
星期五, 8-1-2009

http://www.singtao.com/yesfront/20100108/images/f01.jpghttp://www.singtao.com/yesfront/20100108/images/f02.jpg
http://www.singtao.com/yesfront/20100108/images/f03.jpghttp://www.singtao.com/yesfront/20100108/images/f04.jpg

Why is your Li Kashing's body chopped into two pieces? :scared-4:

Shouldn't it be like this?

http://www.singtao.com/yesfront/20100108/images/f01.jpg
http://www.singtao.com/yesfront/20100108/images/f03.jpg
http://www.singtao.com/yesfront/20100108/images/f02.jpg
http://www.singtao.com/yesfront/20100108/images/f04.jpg

bro pple like me engrand helicoptered one, catch no ball. can put up links so we can google translate esp the prev article?

Google can translate blocks of text too. This is translated by Google:

Li Ka-shing optimistic about this year's Hong Kong property market
Sing Tao Daily
Friday, 8-1-2009

Li Ka-shing 7th to attend the Annual Dinner of the Cheung Kong Group, stressed optimistic about market prospects. Told him not to worry about asset bubbles, because after the financial turmoil, the world will be more careful, not so fast another asset bubble. (Source: Sing Tao Daily)

"I have always been not to make a forecast increase in the property market, outlook for the property market will continue to improve, at a later inflation will come, the current hardware, and building materials such as oil prices began."

- Li Ka-shing
. Chairman
. Cheung Kong Group
. Thursday, 7-1-2009

stalingrad

08-01-10, 14:20

Why are his pants on fire? I mean tycoon li?

by the way, Kwek Leng Beng said in 2007 that the boom in real estate would run seven years, right before the bottom fell out of the market. Was he purposely lying, or just plain stupid.

amk

08-01-10, 14:44

wonderful Mr. Kwek..
in 2007 during the peak, he said, "the higher the price, the more people will buy".
in 2008 during the down, he said, "the current price level is already the bottom and near the cost, it will not go down some more. so you should buy now".

As a shareholder, I'm pleased CDL always does what it's supposed to do. :rolleyes:

Reporter

08-01-10, 18:34

Why is your Li Kashing's body chopped into two pieces? :scared-4:
Shouldn't it be like this?
Paisei! :D I'm using a widescreen (16:9) laptop. It looks OK on my ...

bro pple like me engrand helicoptered one, catch no ball. can put up links so we can google translate esp the prev article?
As per what jlrx translated. :)

Google can translate blocks of text too. This is translated by Google:

Li Ka-shing optimistic about this year's Hong Kong property market
Sing Tao Daily
Friday, 8-1-2009

Li Ka-shing 7th to attend the Annual Dinner of the Cheung Kong Group, stressed optimistic about market prospects. Told him not to worry about asset bubbles, because after the financial turmoil, the world will be more careful, not so fast another asset bubble. (Source: Sing Tao Daily)

"I have always been not to make a forecast increase in the property market, outlook for the property market will continue to improve, at a later inflation will come, the current hardware, and building materials such as oil prices began."

- Li Ka-shing
. Chairman
. Cheung Kong Group
. Thursday, 7-1-2009
Thanks!

Reporter

08-01-10, 18:43

http://www.sph.com.sg/images/logo_st.png
Banks on hiring drive
Gabriel Chen
The Straits Times
Friday, 8 January 2010, 7.17 pm

http://www.straitstimes.com/STI/STIMEDIA/image/20100108/cbd-kuacheesiong.jpg
More than 1,000 staff are being hired by banks, poised to cash in on the expected return of the good times. -- Photo: Kua CheeSiong

A flurry of hiring is underway at many banks in Singapore, reversing the bloodletting of last year when the global financial crisis took a harsh toll on jobs.

More than 1,000 staff are being hired by banks, poised to cash in on the expected return of the good times. This is based on a check of banks by The Straits Times.

Many of the jobs are senior positions but entry level jobs are on offer too.
Headhunters say an entry-level operations job starts at $2,600 a month, on average. Entry investment bankers, needing good qualifications, can start at $8,000.

Hundreds of banking jobs were lost here last year given that the financial services sector was at the epicentre of the global financial crisis.

Reporter

10-01-10, 22:36

Wah! Hotter than bakkwa (肉干) leh.
House price goes up, food price also goes up.

Then will this Gingerbread House's price also go up?

http://dontgosouth.files.wordpress.com/2009/03/hanselandgretel.jpg
Hotter than Pan Pacific Hotel 海天楼's $20,000 CNYE reunion dinner table that have been snapped up?

http://www.sph.com.sg/images/logo_lhwb.png
奢华团圆饭一桌$20,000　竟被抢订一空
联合晚报
星期日, 10-1-2010

http://news.omy.sg/OMYMEDIA/image/News/LocalNews/201001/20100110_chenxi_CNY_img_main.jpg
越来越多国人喜欢到餐馆吃团圆饭。（图／档案照）

一桌团圆饭$20,000，竟被抢订一空！

随着经济逐渐复苏，国人今年也更舍得花钱吃团圆饭，一间中餐馆推出一顿每人$2,000的豪华团圆饭配套，目前已几乎被订满。

泛太平洋酒店的海天楼中餐馆，推出最贵的团圆饭叫价每人1688元，加上消费税和服务费，需要花将近2000元。

这套团圆饭都是以最上等的材料烹煮而成，菜肴包括，金枪鱼腹和挪威三文鱼的鱼生、上等鱼翅和鱼鳔汤、烤乳猪、烤龙虾以及非洲四头鲍鱼和海參。

泛太平洋酒店发言人说，餐馆前几个月的订单已陆续增加，预计在除夕夜当日将被订满。除了虎年带旺生意，位于酒店37楼的海天楼因出名的粤菜料理、舒适的餐馆气氛和瞭望市景的好景观，也是它受国人欢迎的原因。

受访的公众黄女士（35岁，公务人员）说：“我和丈夫在海天楼订了一人788元的配套，团圆饭是一年一度的活动，我们觉得这笔钱是值得花的。”

乌节酒店的华厅中餐馆的发言人说，自去年6月起，餐馆团圆饭的订单已被订满了。“有好些顾客已经要求把他们列入等候名单，一旦有顾客临时没来，他们就能顶上。”

目前华厅中餐馆推出最昂贵的团圆饭套餐，一桌10人是5888元。为了应付除夕夜和新年期间的订单大增的情况，华厅中餐馆把年饭坐席位置扩展到酒店3楼的会议室和2楼的空场地。

jlrx

11-01-10, 03:58

Hotter than Pan Pacific Hotel 海天楼's $20,000 CNYE reunion dinner table that have been snapped up?

WOW ... more expensive than the world's most expensive Gingerbread House!!! :scared-4:

World’s Most Expensive Gingerbread House Makes Christmas Special This Year

Thursday, December 10, 2009 - By decojohn

With Christmas just around the corner, it’s a fact that everyone rolls, bends and twists to come up with the best decoration for the holiday season. Same seems to be the case with the world’s most expensive gingerbread house (in Gothenburg, Sweden), where the big day is gonna be nothing short of special, as the home-shaped delicacy with a chocolate & sweet pasta frame, gingerbread exterior, marzipan plates and caramel windows is definitely mouth-watering.
With an impressive ceiling height that stretches at 50 cm, an entrance leading into the main building with rooms stuffed with gourmet materials, an English-rich styled library, a crystal blue lake with a marzipan bridge site and a carport with room for the two cars, bidding for the year’s yummiest abode ever starts at 35,000 SEK, or close to 3,000 Euro (S$6,028).

http://www.decoist.com/wp-content/uploads/2009/12/Christmas-Decoration-World-Most-Expensive-Gingerbread-House-2.jpg

Reporter

11-01-10, 11:05

WOW ... more expensive than the world's most expensive Gingerbread House!!! :scared-4:

World’s Most Expensive Gingerbread House Makes Christmas Special This Year

Thursday, December 10, 2009 - By decojohn

With Christmas just around the corner, it’s a fact that everyone rolls, bends and twists to come up with the best decoration for the holiday season. Same seems to be the case with the world’s most expensive gingerbread house (in Gothenburg, Sweden), where the big day is gonna be nothing short of special, as the home-shaped delicacy with a chocolate & sweet pasta frame, gingerbread exterior, marzipan plates and caramel windows is definitely mouth-watering.
With an impressive ceiling height that stretches at 50 cm, an entrance leading into the main building with rooms stuffed with gourmet materials, an English-rich styled library, a crystal blue lake with a marzipan bridge site and a carport with room for the two cars, bidding for the year’s yummiest abode ever starts at 35,000 SEK, or close to 3,000 Euro (S$6,028).

http://www.decoist.com/wp-content/uploads/2009/12/Christmas-Decoration-World-Most-Expensive-Gingerbread-House-2.jpg
Err ... gingerbread house prices also going up?
... but it's just a cake!

Unless the reason is that all food prices are going up ...

http://www.sph.com.sg/images/logo_st.png
Food prices going up
Policymakers under pressure as signs of inflation emerge
Fiona Chan
Monday, 11 January 2010, 6.00 am

http://www.straitstimes.com/STI/STIMEDIA/image/20100110/ST_MONEY_1_CURRENT_MONEYCOVER11.jpg

Economic growth has yet to make it back to a firm footing, but policymakers in Asia are already being confronted with another emerging challenge: ïnflätïön.

Oil prices have been rallying in line with the global recovery, hitting levels above US$83 a barrel earlier this week, near a 15-month high.

Food prices are also rebounding from their 2009 lows, potentially increasing price pressures in Asian countries that are already seeing asset bubbles build up.

This has led economists such as Action Economics' David Cohen to predict that central banks in the region will have to start tightening monetary policy by the middle of this year.

This could include raising interest rates or appreciating their currencies.

Inflation recently peaked here at about 7.5% in mid-2008. Runaway inflation, if it takes hold, can cripple an economy as too much cash, worth less and less, chases too few goods and services.

Reporter

11-01-10, 12:31

http://www.avmaroc.com/images/actualite/thumbs/aid-149162_0.jpg
Venezuelans rüsh tö büy imports after devaluation
Agence France-Presse
Caracas, Venezuela
Sunday, 10 January 2010, 1.00am VET

http://d.yimg.com/a/p/afp/20100110/capt.photo_1263104999429-1-0.jpg
Venezuelans crowd an electrical appliance store in Caracas. Thousands of Venezuelans descended on local shops, hoping to buy imported goods before a currency devaluation ordered by President Hugo Chavez ramps up prices. - Photo: Carlos Ramirez, AFP

Thousands of Venezuelans descended on local shops, hoping to buy imported goods before a currency dëvälüätïön ordered by President Hugo Chavez ramps up prices.

The firebrand leftist leader announced Friday that non-essential imports would be subjected to an exchange rate of 4.3 bolivars per dollar, a doubling from 2.15 per dollar today.

The higher exchange rate will apply to items such as automobiles, telecommunications, tobacco, beverages, chemicals, petrochemicals and electronics.

That prompted throngs of customers to queue in front of electronics stores, while those who made it inside navigated crowded aisles to grab refrigerators, stereos and other imported goods.

"We decided that today was the day to buy a television before the prïcë ëxplödës," a customer told AFP.

"We went to various shops but the queues were too long, finally we found one that was less crowed, but the products just disappeared. Everybody wants to buy today."

In a move that will lessen the impact of the devaluation on poorer Venezuelans, who have traditionally formed the backbone of Chavez's support, the president said an exchange rate of 2.60 bolivars to the dollar would apply to basic goods.

On the black market, a dollar costs around six bolivars.

The bolivar's devaluation was the first since 2005, and was designed to aid public finances that have withered amid reduced oil revenues and a rapidly contracting economy.

Critics said the move would allow Chavez to boost public spending ahead of elections in September, but would severely damage the health of the economy.

Since coming to office, the president has sought to remake the Venezuelan economy, vowing to create a more equitable, socialist model.

That has initiated a string of nationalizations of foreign firms and measures that have sent inflation soaring to around 25%.

Critics said the move would further drive up ïnflätïön.

"It would be foolish on my part to deny that this measure will have an impact on prices," said Finance Minister Ali Rodriguez.

Economist Orlando Ochoa said that was the understatement of the year, and that Venezuelan consumers would pay big for the dual rate move.

The measures really are "throwing gasoline on a fire" as far as inflation is concerned, Ochoa said.

"Prices are going to go up, but the government needs more income and it will be getting more for its exports," he said.

Reporter

11-01-10, 13:15

http://blogs.freshminds.co.uk/talent/wp-content/uploads/2009/07/bloomberg_logo.jpg
Asia Stocks, Oil, Metals Advance as China’s Exports Soar 17.7%
Anna Kitanaka and Clyde Russell
Bloomberg
Tokyo, Japan
Monday, 11 January 2010, 1:41 pm JT

Asian stocks rose and commodities gained after China’s exports surged in December and imports rose to a record, signs the global economic recovery is accelerating.

The MSCI Asia Pacific Index excluding Japan Index climbed 1.6% to 434.23 as of 1:40 p.m. in Tokyo, led by commodity producers. Oil advanced to a 15-month high, gold jumped 1.8% to $1,158.40 an ounce, the most in a month, and copper for 3-month delivery on the London Metal Exchange rose as much as 2.9% to $7,675 a metric ton.

China, the engine of recovery from the world’s worst recession since World War II, yesterday said exports climbed 17.7% from a year earlier, the first increase in 14 months, and imports surged 55.9%. The U.S. economy may show further signs of recovery this week with retail sales expected to rise 0.5% in December, according to a Bloomberg News survey of 57 economists, easing concerns caused by the loss of 85,000 jobs the same month.

“The whole recovery story is unfolding very well,” said Nader Naeimi, a Sydney-based strategist at AMP Capital Investors, which oversees about $75 billion. “China is on track and the fact that export numbers are very strong shows external demand from the developed world is gaining traction as well.”

The MSCI Asia Pacific excluding Japan Index gained for the 13th day in 14. Australia’s S&P/ASX 200 Index rose 0.8%, while South Korea’s Kospi Index added 0.5%. China’s Shanghai Composite Index rose 1.4%, led by brokerages and banks after the government approved the use of stock index futures, fanning speculation the new derivative will boost trading volumes. Japanese markets are closed today for a holiday.

S&P Futures Gain

Futures on the Standard & Poor’s 500 Index gained 0.4%. The gauge rose 0.3% to a 15-month high on Jan. 8 as speculation the Federal Reserve will leave interest rates near zero overshadowed the unexpected decline in jobs.

Material producers accounted for 35% of the MSCI index’s advance today on optimism growth in China, the world’s third-largest economy, will stimulate demand for metals.

BHP Billiton Ltd., the world’s biggest mining company, gained 1.9% to A$44.43. Newcrest Mining Ltd., Australia’s largest gold producer, climbed 1.8% to A$36.82.

Posco, South Korea’s largest steelmaker, climbed 3.1% to 625,000 won. Hyundai Securities Co. raised its share- price estimate to 750,000 won, citing an improvement in the global steel industry.

Copper advanced for the first day in three, before trading at $7,642 in Asia. Copper imports by China climbed for a 2nd month, extending a rebound from a 9-month low.

Gold Appetite

Gold rose on speculation a slumping dollar will increase investor appetite for the metal as an alternative asset. It traded at $1,152.82 in Asia.

Crude oil rose for a second day, with the contract for February delivery gaining as much as 92 cents, or 1.1%, to $83.67 a barrel in after-hours electronic trading on the New York Mercantile Exchange. It was at $83.46 in Asia trading.

Oil climbed 4.3% last week and gained in 11 of the past 12 sessions as freezing temperatures in Europe and North America boosted heating demand. Heating oil rose as much as 1.1% to $2.2239 a gallon on Nymex, the highest level since Oct. 14, 2008.

Aussie 1-Month High

The Australian dollar climbed to a 1-month high and South Korea’s won rose for a 7th day, its longest winning streak in 3 months.

The Australian dollar climbed 0.6% from Asian trading on Jan. 8 to 93.05 U.S. cents, the New Zealand dollar strengthened 1% to 73.88 U.S. cents and the South Korean won gained 0.8% to 1,121.2.

Yuan forwards jumped to the highest in eight weeks with 12-month non-deliverable yuan contracts advancing 0.5% to 6.5920 per dollar on speculation China will allow its currency to strengthen. China has effectively pegged the yuan at about 6.83 per dollar since July 2008 to help exporters weather a slump in demand triggered by the global financial crisis.

“It does underscore the continued improvement in global export demand,” said David Cohen, director of Asian forecasting at Action Economics in Singapore. “Perhaps Beijing will be more into tolerating renewed appreciation.”

The dollar fell to a 3-week low against the euro and slid to the weakest since October versus its Canadian counterpart as the signs Asian growth is gaining pace boosted demand for higher-yielding and commodity currencies.

China Beats Germany

China overtook Germany as the world’s No. 1 exporter of goods in 2009 even as the Asian nation reported yesterday its first annual decline in shipments in more than 25 years. China’s central bank last week guided three-month bill yields higher for the first time since August, suggesting that the government wants to rein in liquidity to limit the risks of real-estate bubbles and resurgent inflation.

U.S. Treasury futures declined, signaling cash bonds are likely to weaken when trading opens later today.

2-year Treasury yields fell to the lowest level in 2 weeks on Jan. 8, and longer-maturity yields rose, after a U.S. payrolls report showed the economy unexpectedly lost jobs in December, boosting the prospects that the Federal Reserve will wait longer to remove its stimulus measures and raise interest rates. The Federal Funds Implied Probability shows a 34% chance that rates will remain unchanged up to the Aug. 10 meeting, up from 14% a week ago.

The so-called yield curve, or the difference between 2- and 10-year rates, steepened to 2.85% from 2.75% a week ago. It reached a record 2.88% on Dec. 22.

Reporter

11-01-10, 13:22

http://blogs.freshminds.co.uk/talent/wp-content/uploads/2009/07/bloomberg_logo.jpg
Singapore 2010 ïnflätïön to be between 2.5% and 3.5%, Lim says
Bloomberg
Singapore
Monday, 11 January 2010, 1.47 pm CCT

Singapore’s ïnflätïön may be between 2.5% and 3.5% this year, Trade Minister Lim Hng Kiang said today.

Reporter

11-01-10, 13:24

http://blogs.freshminds.co.uk/talent/wp-content/uploads/2009/07/bloomberg_logo.jpg
Global upturn contributed to Singapore recovery, Minister says
Bloomberg
Singapore
Monday, 11 January 2010, 1.51 pm CCT

The global economic upturn contributed to Singapore’s economic improvement, Trade Minister Lim Hng Kiang said today.

xebay11

11-01-10, 15:00

Reporter

11-01-10, 23:28

jlrx

12-01-10, 00:18

http://www.h88.com.sg/images/h88_masthead_logo.jpg
Getting a 4-room flat in Limbang Green looks less and less likely
H88
Monday, 11 January 2010, 15:52

6 days in and things are looking grim for buyers looking for 4-room flats. Applications for the latest BTOs in Hougang and Choa Chu Kang are already 4 times oversubscribed, with 4-roomers in Limbang Green taking the brunt.

Results so far below.

As you can see, 4-room flats for Buangkok Vale are at about 4 to 1 chance, whilst Limbang Green's 4-toom flats are almost 10 to 1! Worse, applications close on the 18 Jan, almost another week from now.

Makes you wonder why only 188 4-room flats were set aside for Choa Chu Kang's Limbang Green. It can't just be because its a nice number right?

That's why I preach the importance of believing in the Propertism religion, that properties should only be bought and not sold.

Propertism not only saves one's own soul, but those of one's progeny as well.

That's why nowadays many people are buying lots of excess properties, so that next time their children don't have to suffer the anxiety of balloting for all these HDB flats, which in future may even be in Ubin or Tekong.

Look at proud owner's friend's in-law below, who are shining examples of devout Propertists. Their children have achieved salvation, by virtue of their parents' strong faith in Propertism.

true .. my friends in law ( chinese) own golf courses around the world .

they live in a 7000 sqft townhouse in singapore ( father mother and a maid) ..they own scotts 28 (gave to the son ) .. they bought 7 units at residences@evelyn ( 1 gave to the daughter as her wedding gift ) .. they rest are kept empty .. so how to beat them ?

Don't think that I am the most devout Propertist around, just because I am a preacher of the Propertism religion.

There are many very devout Propertists around whose faith is much stronger than mine.

Leaving 7 residences@evelyn condos empty for grandchildren is not something I'm able to stomach.

Reporter

12-01-10, 09:41

http://blogs.freshminds.co.uk/talent/wp-content/uploads/2009/07/bloomberg_logo.jpg
Singapore says its löw interest rates reflect global conditions
Bloomberg
Singapore
Monday, 11 January 2010, 2.26 pm CCT

Singapore’s löw interest rates reflect global conditions, Trade Minister Lim Hng Kiang said in parliament today.

The country’s well-regulated markets are an attraction for funds, he added.

andy

12-01-10, 09:54

Leaving 7 residences@evelyn condos empty for grandchildren is not something I'm able to stomach.

Owners of R@E should pay this guy a retainer fee for keeping these empty and not bailing out. Imagine the resale value of other units if he drops price to sell. Just look @ Solitaire.

7X4k per month is a lot of money to throw away just to keep the faith in propertism.

Reporter

12-01-10, 16:33

http://www.asiaone.com/a1media/site/common/top_a1_home.gif
Flat owners to register subletting of rooms with HDB
AsiaOne
Tuesday, 12 January 2010

From 1 February 2010, flat owners who sub-let rooms in their HDB flats will have to register with the Housing & Development Board (HDB) within 7 days.

They will also be required to notify HDB when they renew or terminate the sub-letting of rooms, as well as any changes to their sub-tenants' particulars. However, there is no need to seek prior approval for sub-letting of rooms.

HDB said that the new rule will support the Ministry of Home Affairs (MHA)'s on-going efforts to eradicate loan-sharking activities, and will better protect HDB residents. Through this, HDB will be able to capture the particulars of those who rent rooms in HDB flats.

The requirement will apply to both new and existing cases of room sublets.
For tenancies that commenced before February 1, owners will be given a six-month grace period from that date to register. Meanwhile, for sublets from February 1, owners will have to register with HDB within 7 days from the start date of subletting.

According to a statement from the HDB, the following information must be provided:

Sub-letting commencement date
Sub-letting expiry date
No. of rooms sublet
Rental per month
Name of sub-tenants
Househould structure of sub-tenant
UIN/FIN of sub-tenant
Nationality of sub-tenant
Citizenship of sub-tenant
Ethnicity of sub-tenant
Work pass of sub-tenant (e.g. work permit, employment pass)
Sector which sub-tenant works in
Reasons for sublettingRegistration may be done either online, or at the Branch Office, where staff will be able to guide them on the registration process.

Flat owners who flout the rule will face a penalty of up to $3,000. Those who repeatedly fail to comply with the requirement may find their flat compulsorily acquired by HDB.

Apart from this new rule, the other terms and conditions for sub-letting of rooms are unchanged.

Reporter

12-01-10, 17:55

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North Korean Money Troubles
Kim Jong Il's currency revaluation is on the verge sparking hypërïnflätïön.
Nicholas Eberstadt
The Wall Street Journal
Tuesday, 11 January 2010, 2:30 pm CCT

The past month has seen an extraordinary spectacle in North Korea: the failure of a hastily announced "currency reform" and the subsequent collapse of the won, the official domestic currency. These developments are of more than numismatic interest. Pyongyang's currency move marks the end of an era of hesitant economic experimentation and ushers in a new era of greater economic, and perhaps political, uncertainties.

The seeds for this crisis were sown long ago. The North Korean state has always had a deep philosophical problem with money—in anyone's hands but its own. Money allows ordinary North Koreans to make economic choices about their own lives, decisions the leadership takes to be its purview alone. In the North's "golden era" (before the end of the Cold War, into the 1980s), total wages and salaries ultimately accounted for barely one-fifth of national output. Apart from Pol Pot's Cambodia, no other modern government has come so close to completely demonetizing a national economy.

Pyongyang's alternative model provided a direct government supply of household goods through a public distribution system. This gave leaders near-total control over the consumption patterns of their subjects, but it also left the people almost totally dependent on what the state deigned to provide them.

With the country's economic tailspin in the wake of the Soviet collapse, the system no longer had enough food in the pipeline to feed the entire North Korean population. There commenced a terrible famine, and an implicit change in the country's social contract. People increasingly would be expected to look after their own needs. Surreptitious markets arose, with exchanges transacted via barter, primitive forms of reciprocation, and currencies of various sorts, including the North Korean won. Lacking the wherewithal that would permit the population to survive on public rations alone, the leadership was forced, from the mid-1990s onward, to tolerate a measure of private-market activity.

Late in the 1990s, as new international revenues (including dividends from the "Sunshine Policy") began to flow into the Dear Leader's coffers, North Korean leaders attempted to rebuild their badly broken socialist economy. But this took the form mainly of measures to strengthen central planning.

Then in 2002, the government suddenly enacted a flurry of economic measures. These actions never constituted the "reforms" they're sometimes termed abroad, but they did mark a departure from the previous three decades. By downsizing official ration guarantees, raising both wages and consumer prices dramatically, and radically slashing the official exchange rate, the leadership significantly increased the sanctioned role of currency and markets (state-run and otherwise).

http://s.wsj.net/public/resources/images/OB-FF897_eber_G_20100111132852.jpg
Activist Park Sang-hak holds worthless North Korean banknotes in Seoul, December 1, 2009

For a variety of reasons—possibly including unintended reverberations from the past decade's nuclear drama—the remonetization did not work well. Too much new money was chasing too few goods, sparking significant inflation. By November 2009, the North Korean won's black-market value in dollars was barely 5% of the level when the 2002 measures were implemented, a depreciation averaging over 3% per month.

The government attempted to redress these problems with a single swift blow. On Nov. 30, 2009, Pyongyang announced without warning an immediate "currency reform." New won notes were issued for old ones on a 1-for-100 basis; no more than 100,000 old won per person (under $40 at unofficial rates) could be converted; and old currency was completely void at the end of the week. This amounted to an overnight confiscation of the overwhelming majority of won holdings by ordinary households, and severely disrupted the workings of the country's already fragile markets for foodstuffs and other goods.

For the first time in the regime's history, a Pyongyang ukase generated widespread public resistance visible to the outside world. International news coverage reported market women cursing their government, and even told of local riots that were only suppressed by force of arms. The government backtracked, conceding that slightly larger personal holdings of old money might be exchanged for new.

Belatedly, the government also apparently realized that foreign currency plays a role in North Korea's consumer economy, too. By some estimates, the convertible foreign exchange holdings of families may total $1 billion or more, largely in dollars, yuan and euros. Three weeks after the currency reform, Pyongyang ordered that foreign currency could no longer be used in domestic transactions (as had been occurring, albeit illegally), and that all foreign notes must be exchanged at wildly unrealistic official rates. The won went into freefall.

The speed and depth of the won's resulting plunge has been dizzying. The nominal market price of rice is reportedly higher today than it was in November 2009, before currency reform. This would imply 100-fold inflation and then some in just over one month. The won-yuan exchange rate along the North Korea-China border has reportedly dropped by almost 50% over the past month, even after discounting for the 100-to-1 currency conversion. The government apparently has no confidence in its own currency move, and is now betting against it. News reports indicate that Pyongyang this month is issuing soldiers in its public security forces twice their nominal monthly pre-reform wages (a 20,000% raise in light of the currency conversion). If the government finances more wage hikes like this by running the printing presses, it will turn the currency into a toxic asset no one wants to hold.

North Korea appears to be approaching the brink of hypërïnflätïön. This carries several implications for foreign governments, none of them pleasant.

The era of timid official experimentation with economic policy is regarded as a failure by the regime and has come to a crashing end. Because the currency reform's failure has so shaken the regime, the North's "military first politics" may take on a more strident tenor even less conducive to engagement with the West.

The botched currency reform also has revealed how little North Korean decision-makers understand their own economy, much less the outside world. On a related note, the regime's supposed heir apparent, Kim Jong Eun, was the mastermind behind the North Korean currency reform, according to South Korean intelligence. This may just be bad intelligence or disinformation. But if accurate, it raises disturbing questions about the judgment of the rising generation of North Korean leadership.

Meanwhile, Pyongyang's currency machinations portend ominously for the country's food situation. Although Pyongyang has managed to avoid mass death from starvation over the past decade, there is no margin of safety in the food system. The currency move has severely disrupted the private markets that are key to food security. North Korea is now one fateful step closer to a new famine.

The immediate consequences of the failed currency reform are bad enough already. But much worse may yet lie in store. Ordinary North Koreans are already bracing for this; Western policy makers should be preparing as well.

kane

12-01-10, 21:32

6 days and 4rooms are 4x oversubscribed. not easy getting a new flat these days...

moneyspinner

12-01-10, 21:34

6 days and 4rooms are 4x oversubscribed. not easy getting a new flat these days...

Well, human nature. Always go for the best when there's a bargain!:)

jlrx

12-01-10, 23:02

Owners of R@E should pay this guy a retainer fee for keeping these empty and not bailing out. Imagine the resale value of other units if he drops price to sell. Just look @ Solitaire.

7X4k per month is a lot of money to throw away just to keep the faith in propertism.

I see you have not seen the light in Propertism as yet.

Let me show you another devout Propertist - a Mr. Kuok from Malaysia.

Great World Amusement Park was also known as Tua Seh Kai in Hokkien, meaning "great world" which belonged to Shaw Brothers. In 1979, Shaw sold the park to Robert Kuok, dubbed Malaysia's "Sugar King".

http://ourstory.asia1.com.sg/neatstuff/places/great4.jpg

The amusement park was left empty for 18 years, until Great World City was opened in October 1997.

http://i305.photobucket.com/albums/nn211/jlrx_bucket/GreatWorldCityToday.jpg

The question now is:

Should owners of properties next to Great World City, e.g. Kim Seng Plaza which en-bloced in 2006 to Lippo for $132 million, pay Mr. Robert Kuok a retainer fee for keeping his amusement park empty for 18 years, and not bailing out. Imagine the resale value of Kim Seng Plaza if Mr. Kuok drops price to sell off his plot of land. Just look @ Solitaire.

Just the property tax alone on the plot of land is a lot of money to throw away just to keep the faith in propertism, over 18 years.

Reporter

13-01-10, 09:10

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2-room flat cösts möre than a 4-room
AsiaOne
Wednesday, 13 January 2010

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Photo: Mr Adrian Wee (28, left) of OrangeTee was the agent who handled the transaction for the former home owner, Mr Tan (43, right).

A 2-room HDB flat in Chinatown was sold for $245,000 recently, creating a new recörd for the re-sale price of HDB 2-room flats.

Located at Jalan Kukoh, the flat is on a higher floor of block 10, and is about 40 years old.

http://business.asiaone.com/a1media/business/01Jan10/others/20100112.173900_2room1.jpg
Photo: Courtesy of Mr Adrian Wee

Home owner Mr Tan, a 43-year-old advertising executive, bought the unit with his wife two years ago at about $145,000. They decided to sell as they want to move to a larger flat.

"We bought this unit because we wanted to live in Tiong Bahru, but could not afford a 4-room flat in this area. Now, we want to upgrade to a larger flat. We also find it too noisy as it is near the highway," he told Shin Min Daily.

According to OrangeTee property agent Mr Adrian Wee, 28, the new flat owners are a young couple with one child. Besides the central location, the flat is also near to where their parents stay. As they also like the simple, open layout of the flat, they did not object to the noise from nearby traffic.

The flat's floor area of 53 sqm includes a living room and one bedroom; an additional storeroom was added by the former home owners. The price of $245,000 is about $45,000 aböve valuation.

Mr Tan says that although he made a tidy profit from the sale, the price over valuation of his new 4-room flat is also quite substantial, so it is just enough to cover his costs of buying a new home.

According to HDB figures, the average price of a 2-room flat in Tiong Bahru was about $190,000 to $220,000.

ECG Property CEO Mr Eric Cheng says that the price is high, but still reasonable for the prime location.

"Some couples prefer flats in mature estates as they are near the city and they can save time and transport costs," he told Shin Min.

PropNex CEO Mr Mohd Ismail said that many of the home owners are elderly, and most of them have no intention of selling their flats, so it can be hard to find one on the market.

"For this price, a young couple can get a new 4-room flat in Punggol," he said.

andy

13-01-10, 10:13

Should owners of properties next to Great World City, e.g. Kim Seng Plaza which en-bloced in 2006 to Lippo for $132 million, pay Mr. Robert Kuok a retainer fee for keeping his amusement park empty for 18 years, and not bailing out. Imagine the resale value of Kim Seng Plaza if Mr. Kuok drops price to sell off his plot of land. Just look @ Solitaire.

Just the property tax alone on the plot of land is a lot of money to throw away just to keep the faith in propertism, over 18 years.

That's indeed a very interesting question. I believe we have 2 type of situations.
One is where large asset owner lik Mr Kuok sees that he can make 100folds the property tax he has to pay if he retain the land for future development. In which case whoever benefits from his future development simply enjoy a free ride on his gain.

The other type of scenario is when a small time investor like most in our forum decides to sell 6 units of Kim Seng Plaza at fire sale price in 2006 before the enbloc. So instead of $132m, the owners get 70% of the value. Should the majority owners benefit more if they have paid the interest or rental for these units so that it does not affect the market value of the entire development.

Propertism works well when everyone can hold. In fact if everyone subscribes to this philosophy prices can only go up since no one will sell at lower prices.

Should there be a law in the condo mgmt committee that prevent owners from selling below a certain floor?

Reporter

13-01-10, 10:17

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Home price rise reflects demand, nöt a bübblë: DBS
Conrad Tan
The Business Times
Wednesday, 13 January 2010

The recent sharp rise in private home prices here is nöt yet indicative of a bübblë and prices could ïncrëäsë further, DBS Group research head Timothy Wong said yesterday.

'In the mass market, what you are seeing is rëäl end-user demand that is catching up,' he told reporters at a briefing to present the group's economic outlook and investment strategy for the year.

'If you look at äffordäbïlïty levels, the average cost to service a mortgage taken against the median wage is about 30%, which is fairly stable. When it moves up to 50%, you know you have a bubble forming.

'So we're not really at a bubble stage yet. I think the last time we had a major bubble was probably in 1995-96, when queues were forming outside showflats and people were buying 3 or 4 properties at one go.

'This time, it's more circumspect - there are some speculators out there, but by and large people are genuinely buying homes to upgrade and move into,' Mr Wong said.

'Rental yields have come down, because they were exceptionally high at about 4-5%, now they're about 3-3.5%. If they got down to 1%, I would say that represents a bubble.'

The group's research team expects hïgh-ënd private home prices here to rïsë a further 10-15% this year, while mid-tier home prices are expected to rise 5-10%. It expects any increase in the price of mass-market private homes and public housing to be relatively muted.

proud owner

13-01-10, 11:18

Property_Owner

13-01-10, 11:37

Reporter

13-01-10, 13:22

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80% pay flats with CPF
The Straits Times
Wednesday, 13 January 2010, 1.18 pm

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First-timers can also enjoy a CPF Housing Grant of up to $40,000 when they buy a resale flat, DBSS flat or EC. -- Photo: Alphonsus Chern, ST

8 in 10 new Housing Board buyers are able to service their housing loans entirely using Central Provident Fund (CPF) monies wïthöut forking out any cäsh.

This is possible due to the gënëröus subsidy system, said National Development Minister Mah Bow Tan. For example, households earning less than $5,000 monthly can apply for Additional CPF Housing Grants (AHG) of up to $40,000. The Housing Board also offers concessionary loans to eligible households. First-timers can also enjoy a CPF Housing Grant of up to $40,000 when they buy a resale flat, Design, Build and Sell Scheme (DBSS) flat or Executive Condominium.

Replying to a question from Madam Ho Geok, MP for West Coast GRC, Mr Mah said in his written response on Tueday: ' HDB has progressed from the mass production of basic flats in the 70s and 80s to offering many choices across different locations, flat types, designs and prices. This caters not only to rising aspirations, but also to different segments of flat buyers with varying preferences and budgets within the $8,000 income ceiling. This means that such choices are offered to almost 80% of households in Singapore.'

While HDB provides many choices, flat buyers must play their part too, said Mr Mah, who advised them to exercise prudence and buy within their means. By way of an example, the minister explained: 'A family with monthly household income of $3,000 who spends 30 per cent on housing can buy a flat of up to $250,000. This covers all the new three-room flats in HDB's most recent BTO projects in Choa Chu Kang and Hougang.

'They also have a selection of the 4-room flats, where prices start at about $230,000. At $4,000 monthly income, a family can afford up to $333,000 without spending more than 30% every month.'

He added that the HDB is committed to ensuring a sufficient supply of new flats. Flat buyers can look forward to about 12,000 new BTO flats this year, if demand is sustained. These BTO flats will also be supplemented by DBSS flats and ECs.

sabian

13-01-10, 15:11

Why always talk about mortgage repayment as a % of income but always never say pay for how many years?:doh:

xebay11

13-01-10, 15:59

Why always talk about mortgage repayment as a % of income but always never say pay for how many years?:doh:
They are scholars and the ppl are dumb dumbs.

Reporter

13-01-10, 20:51

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Singapore home prïcës to rïsë up to 1Ö%, CB Richard Ellis says
Bloomberg
Singapore
Wednesday, 13 January 2010, 8.58 pm CCT

http://upload.wikimedia.org/wikipedia/en/a/a4/CBRElogo.PNG

Singapore’s home prïcës may ïncrëäsë by 8 to 10% in 2010 as the city-state’s economy recovers and foreign investors return, CB Richard Ellis Pte said.

“Förëïgnërs have returned proportionately, in terms of buying volume, as with the rest of the market,” Leonard Tay, Singapore-based research director at CB Richard Ellis, a property brokerage and consulting company, said today at a conference on the island.

Gains in home prïcës may äccëlëratë this year as the island’s two ¢a$inô-resorts draw foreign investors and the global economy recovers. The government estimates Singapore’s gross domestic product to increase 3 % to 5% this year, after shrinking 2.1% in 2009.

Singapore’s private residential prices rose 7.3% in the 4th quarter from the previous 3 months, extending its bïggëst rälly in 28 years, based on Urban Redevelopment Authority’s data. The government’s property price index surged 15.8% in the 3rd quarter.

proud owner

13-01-10, 21:37

jlrx

13-01-10, 21:50

I read a book '' Make your money work for you'' by Keon Chee and Ben Fok. Everything makes senses till I came to this page, that talk about when crisis hits..

Well-meaning financial advisers are apt to say that given time, your portfolio will recover, so don't sell....hold. Well, you may be surprised to know that this does not work all the time and when this does not work out, the pain can be excruciating and last a long time.

Lucky I didn't read this book 1 year ago. :)

"portfolio will recover" applies to properties, but not necessarily to stocks.

Properties have a long-term value of INFINITY (because "at the end fiat money returns to its inner value - ZERO" François-Marie Arouet a.k.a. Voltaire), whereas stocks have a mid-term value of ZERO.

Every stock will meet its end one day when it reaches its "Death Plunge".

The average life expectancy of a multinational corporation-Fortune 500 or its equivalent-is between 40 and 50 years. This figure is based on most surveys of corporate births and deaths. A full one-third of the companies listed in the 1970 Fortune 500, for instance, had vanished by 1983-acquired, merged, or broken to pieces.1 Human beings have learned to survive, on aver-age, for 75 years or more, but there are very few companies that are that old and flourishing.
It's very much like humans. Humans have an average lifespan of 75 to 80 years; whereas stocks have an average lifespan of 40 to 50 years. Some of course lived more than 100 years (e.g. Lehman Brothers died at 158 years old) but some died in their infancy (e.g. eToys.com died at 4 years old).

The figure below shows the classic graph of a stock's "Death Plunge", very similar to what happens to a human at the end of his lifespan.

http://quickstockanalysis.com/wp-content/uploads/2008/11/aig-nov.png

Other examples are Kodak from US$64.75 (Aug 18, 2000) to US$4.39 (Jan 13, 2010) - a fall of 93%; Citibank US$55.12 (May 25, 2007) to US$3.52 (Jan 13, 2010) a fall of 94%.

This type of death plunges don't happen to properties.

Can you imagine a $500,000 HDB flat falling to $30,000? The Government will not allow that to happen.

Reporter

14-01-10, 08:41

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Property sales pïck üp again at Sentosa Cove in 2009
The Business Times
Thursday, 14 January 2010

http://www.asiaone.com/a1media/business/04Apr09/images/20090427.105729_scovefinal.jpg

After a muted 2008, property sales at Sentosa Cove picked üp again in 2009 as buyer interest returned to the hïgh-ënd and lüxüry segments of Singapore’s property market.

According to data compiled by Savills Singapore, 125 non-landed and 33 landed homes were sold on the island in 2009, up from 67 non-landed units and just 5 landed homes in 2008.

And more homes worth more than $10 million apiece were also sold on the island last year. Savills’ data shows that 30 homes worth $10 million and more were sold at Sentosa Cove in 2009, compared to just one such property in 2008 and 15 during the height of the property boom in 2007.

Developers and analysts say that with the global economy picking up, förëïgnërs are once again looking to büy properties on the island.

Sentosa Cove is the only place in Singapore where foreigners can own landed property without special permission.

‘Sentosa Cove with its unique lifestyle offerings has already attracted a strong following of high net-worth individuals from around the globe,’ said DTZ managing director Margaret Thean.

She noted that the recent sales of Malaysia-based YTL Corporation’s Kasara project at Sentosa Cove demonstrates the optimism of market sentiment and confidence in Singapore’s luxury property market, which is expected to be further strengthened with the completion of the developments around the Marina Bay Financial Centre and the two upcoming integrated resorts.

YTL said last week that it has sold six of the 13 villas at Kasara at prices ranging from $14 million to $22 million. This works out to about $1,600 psf on average. Buyers included foreigners from Asia-Pacific and Europe.

The improved sentiment means that potential buyers can expect project launches on the island soon. City Developments is expected to launch its 228-unit luxury project The Quayside Collection soon.

The property group last year announced that it will delay launching the project due to the subdued property market and global economic uncertainty but will proceed with construction.

And Ho Bee Investment could also launch its two remaining Sentosa Cove projects later this year. The group has the 151-unit Seascape as well as Pinnacle Collection, which has some 280 apartments in all, left in its portfolio.

Douk

14-01-10, 09:06

"portfolio will recover" applies to properties, but not necessarily to stocks.

Properties have a long-term value of INFINITY (because "at the end fiat money returns to its inner value - ZERO" François-Marie Arouet a.k.a. Voltaire), whereas stocks have a mid-term value of ZERO.

Every stock will meet its end one day when it reaches its "Death Plunge".

It's very much like humans. Humans have an average lifespan of 75 to 80 years; whereas stocks have an average lifespan of 40 to 50 years. Some of course lived more than 100 years (e.g. Lehman Brothers died at 158 years old) but some died in their infancy (e.g. eToys.com died at 4 years old).

The figure below shows the classic graph of a stock's "Death Plunge", very similar to what happens to a human at the end of his lifespan.

http://quickstockanalysis.com/wp-content/uploads/2008/11/aig-nov.png

Other examples are Kodak from US$64.75 (Aug 18, 2000) to US$4.39 (Jan 13, 2010) - a fall of 93%; Citibank US$55.12 (May 25, 2007) to US$3.52 (Jan 13, 2010) a fall of 94%.

This type of death plunges don't happen to properties.

Can you imagine a $500,000 HDB flat falling to $30,000? The Government will not allow that to happen.

The Real Estate Bubble End Result

The Investment U e-Letter: Issue # 423
Monday, March 28, 2005

The Real Estate Bubble End Result: Is a Bust Headed This Way?
By Dr. Steve Sjuggerud, Advisory Panelist, Investment U

“When the (real estate) bubble burst, property prices plummeted more than 80% wiping out many families’ wealth and helping plunge the economy into 13 years of stagnation.” Financial Times, March 24, 2005, referring to Japan in the late 1980s.

Our house sold! My wife and I went by yesterday to clean out the last few things, and our old neighbor stopped by to tell us the plans for his house.

“We’re moving too – an hour north of here,” he said. He then shared his seemingly sensible plan”You can’t go wrong with investing in real estate on our island,” he said. This, of course, is said in every real estate conversation here nowadays, and probably everywhere else on the Florida coast.

My friend continued: “We’re up a few hundred thousand dollars on this house. So we’re going to buy a house an hour north of here AND buy a condo here, so we can keep a place here.”

Why two places?

“The way prices are going on this island these days, if we don’t buy it now, we won’t ever be able to afford to buy here again.”

My old neighbor sums up the prevailing thinking – buy good real estate now, while you still can afford it

But sinking tons of money into real estate investing right now might be a bad idea Here’s why

A Real Estate Bubble Danger Sign: The Crowd Believes “Prices Can’t Fall” in the End

Prices have been soaring for seven years now on the coast. Just when you think prices on the coast can’t go any higher, they double again – in just two to three years!

Most people only see the last seven years, and they don’t know the big picture and the end truth that for the last quarter of the 20th century (1975-2000), Florida home prices were flat, when you adjust for inflation.

It’s not hard to see how a regular home in a regular neighborhood where I live has doubled from $200,000 to $400,000 – as incomes have risen, the population here has risen, and mortgage rates have fallen. But is that zero-lot line home in the cookie-cutter neighborhood really going to double to $800,000? I realize that anything in real estate investing is possible. But two things concern me:

The first thing that concerns me is the basic economics. It’s reaching a point where most people can’t afford the median home. The second thing that concerns me is the strong belief that prices can’t fall. The Japanese thought the same thing in the late 1980s when their real estate bubble burst, and they’re still suffering terribly

Similarities to Japan’s 17-Year Bust

Last week, the Financial Times reported that residential real estate prices in central Tokyo rose by 0.9% in 2004. That rise is nothing to write home about except that it is the first time in 17 years that residential real estate prices in central Tokyo actually went up!

Back in the late 1980s, the Japanese felt the same way about real estate investing as people on the Florida coast do now. I checked the results of data on Japanese real estate going back to the 1950s (as far back as data in English exists), and I found that, with the exception of 1975, Japan home prices never had a losing year

Never that is, until the bubble burst and the bust followed. And with it, 17 straight years of pain.

At the height of the bubble, “it was a matter of pride that the land around the Imperial Palace in Tokyo was at one point worth more than California,” the Financial Times said. Those days are long gone

“When the bubble burst, property prices plummeted more than 80%, undermining company balance sheets, wiping out many families’ wealth and helping plunge the economy into 13 years of stagnation.”

What You Can Do Now to Protect Yourself from a Bubble and Get your Desired End Result: Sock Away Equity!

First of all, I don’t think we’re in for a Japan-style real estate crash nationwide in the States. The main reason we won’t have a Japan-style bust is that we didn’t have a Japan-style nationwide real estate bubble in the first place.

But there is reason to play it safe, and to protect yourself from risk by not getting overextended in real estate investing. Let’s use an example from Japan…

A guy in central Tokyo who borrowed $500,000 to buy an apartment still owes the full mortgage today, but his apartment has lost 80% of its value. A $500,000 mortgage on a $100,000 apartment now that’s a bad place to end up.

My old neighbor can easily avoid the risk of ending up like this Japanese guy. Put simply, he doesn’t need the two places.

He needs the home. He doesn’t need the speculative condo and the new pile of debt. “But if the rent can cover my mortgage and costs” he says. Stop right there It won’t. You’re dreaming. (I couldn’t tell him that as a result)

The safe way to do it is for him to plow profits on his old house into EQUITY in his new home. This way, if the bubble bursts a little and property prices here near the coast fall by 20%, for example, it wouldn’t affect him one bit.

He probably won’t do that. He’ll probably do what everyone else is doing here: taking their profits in real estate here and plowing them back into real estate. It’s the late 1980s in Tokyo once again.

There’s a chance you’ll be thinking about buying or selling real estate in the next few years (if not few months) because “in the long run, real estate always goes up.” But if you’re heavily leveraged, or you’re plowing real estate profits back into bigger real estate deals right now, remember: These are not normal times in real estate, particularly on the coasts. And normal times will undoubtedly return, whether it’s via a real estate bubble bursting, or a long, drawn-out period of no price change. And don’t forget, even a period of no price change costs you a lot of money in real estate, with taxes and maintenance.

A Final Warning on the ‘Real Estate Bubble’

I’m glad my other house on the island is selling now. And I wish my old neighbor the best. As for you, if you’ve got too much exposure to coastal real estate, or your own “hot” local market, I’d suggest paring back now. Beat the rush as getting out of real estate is not as easy as selling a stock.

Yes, there could be another year or two of good times, and I’ll miss ‘em. But I’m okay with that.

Good investing,

Steve

Reporter

14-01-10, 09:25

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Lüxüry projects to dömïnätë this year
The Business Times
Thursday, 14 January 2010

http://i266.photobucket.com/albums/ii268/kcc0002/TheWharfResidence.jpg
CapitaLand's The Wharf Residence see strong sales in 2009

Developers are expected to push out a slew of hïgh-ënd and lüxüry projects in 2010 as buying momentum starts returning to these segments of the property market.

Data from CB Richard Ellis (CBRE) shows that of the 7,975 landed and non-landed homes that are likely to be launched in 2010, more than 40% of them are in Singapore’s core central region (CCR), which includes the prime Districts 9, 10 and 11, the financial district and Sentosa Cove.

A total of 3,469 homes will be in the CCR. Another 3,071 units are in the outside central region, which is a proxy for suburban mass-market locations. The remaining 1,435 homes are in the mid-tier rest of central region.

In contrast, most private home launches in 2009 were in the mass market.

‘The first half of 2010 will see a wider spread of project launches from mass market, to city fringe and to prime locations,’ said Joseph Tan, CBRE’s executive director of residential.

‘A lot of developers did not launch or re-launch their high-end and luxury projects last year as prices were down,’ said Cushman & Wakefield Singapore managing director Donald Han.

‘They were holding onto their projects because they could afford to. Now, with prices beginning to climb, we can expect more launches in these segments.’

According to Goldman Sachs, luxury homes prices here are still some 19% bëlöw their 2007 pëäk, while prime and mass market home prices are 8% and 4% lower than their previous peaks respectively.

However, it is unclear if the take-up for luxury homes will be as strong as that seen during the 2007 boom. Back then, sales were fuelled by international buyers. But now, most developers and analysts agreed that foreign demand has not returned as strongly as hoped to the high-end and luxury market.

But sellers are still hopeful that the openings of the integrated resorts will once again kick-start more interest from international investors into Singapore.

The fact that luxury prices are still far from their peaks means that investing in Singapore will once again prove to be attractive to international buyers, Mr Han added.

Said UOB Kay Hian analyst Vikrant Pandey: ‘The growing acceptance of Singapore as a choice destination to live and work will fuel prices further because property prices in Singapore are still significantly lower than those of key gateway cites of Monaco, London, New York, Hong Kong, Tokyo and Moscow.’

There is also a lot of speculation on the ground about how developers will replenish their landbanks once they start selling luxury and high-end homes once again. In 2006 and 2007, a scramble for prime residential sites led to a booming collective sales market.

‘All developers we spoke to are looking to participate in the government land sales for 2010, as land banks have been run down in the strong buying momentum in 2009,’ said Macquarie analysts Elaine Cheong and Soong Tuck Yin in a Jan 6 note.

‘A few have lost out in 2009 tenders due to intense competition. We see overpaying for land as a key risk for developers in 2010.’

Some analysts believe that collective sales, which witnessed a slump in 2008 and 2009, with only one transaction compared to 116 in 2007, could stage a comeback in 2010 if the strong buying sentiment in the property market continues well into the year.

‘We expect en bloc sales to make a comeback on the back of: rapidly falling inventory levels among developers; the H1 2010 government land sales programme (which) mainly targets the mass-market segment; a recent surge in high-end transactions; moderation in price expectations by collective sale home owners; and the transformation of Singapore into a top global city with the opening of the integrated resorts,’ said UOB Kay Hian’s Mr Pandey.

But Goldman Sachs said that the en bloc fever is not likely to return anytime soon.

‘Developers’ demand concerns still trump the need to replenish land banks, suggesting a new wave of en-bloc sales is not yet in sight,’ said analysts Paul Lian and Rishab Bengani yesterday.

‘As a group, developers made $2.5 billion in land purchases in 2009, flat over 2008, and some 75% below 2006 peak levels, despite record take-up in 2009.’

Reporter

14-01-10, 10:42

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Surge of Expats in Singapore Sparks Immigration Concerns
Patrick Barta and Tom Wright
The Wall Street Journal
Singapore
Thursday, 14 January 2010

For years, this rich city-state has marketed itself as one of the world's most open economies.

But as Singapore recovers from recession, its residents are questioning a key part of the country's economic model: its long-standing openness to foreigners.

Singapore has thrown open its doors to bankers and expatriates in recent years, making it easy in many cases to establish residency and hastening the country's emergence as an Asian version of Dubai. It also welcomed low-skilled laborers from Bangladesh and other developing countries to help man construction sites and factories.

The goal was to capture more Asian wealth and offset Singapore's low birth rate with immigrants, spurring economic growth. But the push has also fueled discontent, turning immigration into a red-hot political issue in a country where dissent is still tightly controlled by the government.

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Crowds gather at the Ministry of Manpower amid a wage dispute.

Between 2005 and 2009, Singapore's population surged by roughly 150,000 people a year to 5 million—among the fastest rates ever there—with 75% or more of the increase coming from foreigners. In-migration continued in 2009 despite expectations it would collapse because of the global recession.

The influx helped boost Singapore's economy in the short run by creating new demand for goods and services and helping manufacturers keep labor costs low. Developers built apartments and posh shopping centers for the new arrivals.

By some estimates, a third or more of Singapore's 6.8% average annual growth from 2003 to 2008 came from the expansion of its labor force, primarily expatriates, allowing Singapore to post growth more commonly associated with poor developing nations.

At the same time, though, foreign workers have driven up real estate and other prices and made the city-state's roads and subways more congested. Their arrival has kept local blue-collar wages lower than they would be otherwise, exacerbating Singapore's gap between rich and poor.

Some economists say the most damaging effect of the immigration is that the influx appears to be putting a lid on productivity gains, as manufacturers rely on cheap imported labor instead of making their businesses more efficient. Labor productivity, or output per employee, fell 7.8% in 2008 and 0.8% in 207—a phenomenon that could eventually translate into lower standards of living.

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Lee Ah Lee, a 58-year-old who makes 850 Singapore dollars a month (about US$600) clearing tables in a cafeteria, says the flood of immigrants has made it hard to make ends meet by pushing down blue-collar pay in Singapore, which has no legal minimum wage. Sitting nearby in a drab apartment block built by Singapore's Housing Development Board, a state-owned body that constructs and sells subsidized housing, 79-year-old Lee Kwang Joo says low-skilled foreign workers are often housed in corporate dormitories, meaning they have no housing costs and can survive on lower pay.

On Temasek Review, a Web site dedicated to Singaporean affairs, one writer recently warned Singaporeans would be "replaced" as "3rd class citizens" by foreigners, while another said that immigration "will emerge as the single most important issue" in Singapore's next general election, due by 2011.

Immigration "kept our economic growth high but, at a tremendous cost," says Kenneth Jeyaretnam, the secretary-general of Singapore's Reform Party, a small opposition party founded in 2008. Relying on foreign labor to help boost growth is unsustainable, adds Choy Keen Meng, an assistant professor of economics at Singapore's Nanyang Technological University. He says a better model would involve the reining in immigration and accepting that Singapore is becoming a more mature economy like the U.S. or Europe, with a long-term growth rate of 3% to 5% a year.

Singapore, unlike many of its neighbors, has a reputation for reliable public services and minimal corruption. Its openness to foreign investment is one reason why gross domestic product is expected to rebound to 4.5% this year, according to the Asian Development Bank, from a contraction of 2.1% in 2009.

Still, Prime Minister Lee Hsien Loong, speaking at a Singapore university in September, said there was a need to be "mindful of how quickly our society can absorb and integrate" new arrivals, and vowed to curb immigration.

The government is also studying immigration as part of a wide-ranging review of the city-state's economic model launched in 2009. Results of the review, due this month,are expected to include steps to diversify Singapore's economy and reduce its reliance on exports to the United States and Europe by boosting domestic consumption, among other things.

Yet people familiar with the government's plans say it is unlikely to press for deep cuts in immigration, and will aim to find other ways to restore productivity growth. Singapore remains committed to a long-term goal of increasing the population to 6.5 million, though it would do so by prioritizing high-skilled residents as opposed to blue-collar workers.

Ïmmïgrätïön "is not a weakness, it's ä strëngth," said one person familiar with the long-term economic planning process. "People want to come here, why nöt make use of that strength?"

Serious cuts to immigration could also generate a backlash from other interests—notably the factory owners and real-estate developers who rely heavily on foreign arrivals. Many employers complain that local Singaporeans, accustomed to a higher standard of living than most other Southeast Asians, are unwilling to take on menial jobs, and are likely to resist further tightening of foreign labor supply.