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Property_Owner
22-01-10, 11:24
New Thread.
Comments welcome.
Let's be friendly. :)
New Thread.
Comments welcome.
Let's be friendly. :)
Good New Thread ! :cheers1:
I was going to comment about "focus" in the other thread.
Haha.. ... Blame it on the Focus :)
Well.. I can only say ..i've been sitting on all the tips and news and advice... coz I was waiting for my balls to grow.. ;) I don't have balls of steel like some of you guys.
But jokes aside, I really appreciate this forum as it gives me a very good education on property investment. I would rate this the number 1 property forum for me! :)
Property_owner, very near but I am driving the new mercs e-class, not a BMW (Don't like the current look). But considering upgrading my other car to a Z4 year end if the stock market holds up. And NO! I wouldn't want to know what cars you have.. Your 40 properties already scared the shit out of me..
"focus" is to be blamed for causing HDB prices to be so high.
So rich still stay in HDB flat. :spliff:
Then the buyers offer COV of $500,000 also no use. Just look at his "new mercs e-class" and "Z4". Already going to cost $500,000. :p
How can HDB prices come down when there are people like "focus" staying there?
No wonder there are so many complaints in the Straits Times forums. :scared-3:
The Straits Times Sep 17, 2009
Four ways to bring down flat prices
I APPLAUD the new measures by the Government to curb speculation in the property market and reinstate the Government Land Sales Programme.
However, they do little to alleviate the structural problems at the root of the resale HDB market and the frustrations of many home seekers. It is too easy to blame cash over valuation (COV) for the rampant rise in resale prices or repeat continuously that resale HDB flats are affordable.
Four measures could be taken to significantly improve the supply of resale HDB flats and thus lower prices.
• HDB flats should be affordable housing only for genuine home owners who occupy the flats. They should not be used for investment or rental income.
The resale market is still tight because many owners, who have already moved out, are simply holding on to their property or hoping for a collective sale.
If owners do not live in their flats any more, they should be put on the market immediately.
• There should be an income and assets cap for owners of HDB flats. If the owners are very successful in life after buying an HDB flat, they should leave their property on reaching a certain threshold and sell it.
It is not right that families with multiple properties and very high salaries are able to hold on to their HDB flats.
• Have a staggered income ceiling instead of a blanket one of $8,000, applicable across all HDB flats ranging from $200,000 to $600,000.
For example, have an $8,000 income ceiling for flats valued below $400,000, a $10,000 ceiling for flats valued above that and below $600,000, and $12,000 ceiling for flats valued above $600,000.
• Take property agents out of the equation. HDB should stimulate and facilitate direct owner-buyer contact.
I urge HDB to consider these measures to tackle the problem at its root and let go of its free-property-market thinking.
Lim Hing Kok
http://bhtest.asia1.com.sg/mnt/static/image/images/topMasthead_small.gif
URA Q4 private home price index up 7.4%; 2009 up 1.8%
Kalpana Rashiwala
The Business Times
Friday, 22 January 2010, 12.40 pm
Urban Redevelopment Authority's official price index for private homes rose 7.4% in Q4 2009 over the preceding quarter, slightly higher than the 7.3% rise for the period based on its flash estimate released on Jan 4 this year.
URA said its price index for office, shop and industrial properties increased by 1.0%, 0.6% and 1.8% respectively in the Q4 2009 over the preceding quarter.
For the whole of 2009, prices of private residential properties increased by 1.8%, while those of office, shop and industrial properties decreased by 16.4%, 6.1% and 14.4% respectively, URA said.
Rëntäls of private residential and industrial properties ïncrëäsëd by Ö.6% and 0.3% respectively quarter on quarter in Q4 2009, while those of office and shop properties decreased by 3.3% and 1.4% respectively over the same period.
For the whole of 2009, rentals of private residential properties, office, shop and industrial properties decreased by 14.6%, 23.6%, 7.4% and 13.4% respectively.
Actually I also wanna comment on HDB dwellers.. I dunno wat the heck are they staying there becoz so many of the families staying on the same floor as mine easily 2-3 cars..making me feel ashame of myself. Going home late at night is always dreadful becoz I have to park all the way to the rooftop..just imagine 10 cars on 1 level of a HDB block where I am staying. This is insane man.. they should all sell lower and upgrade to private in double quick time so genuine HDB buyers can get at more affordable price and yeah then we can stop blaming focus :) :)
Regulators
22-01-10, 11:55
i am bullish about 2010 for HDB and condo properties.
I do like the way the system works now, but perhaps tweak it to be purely a citizen's right, rather than PR/immigrants. When i retire from the corporate world, I would go back to HDB living and lead the simple life.
HDB should always remain the social safety net for citizens
I do like the way the system works now, but perhaps tweak it to be purely a citizen's right, rather than PR/immigrants. When i retire from the corporate world, I would go back to HDB living and lead the simple life.
HDB should always remain the social safety net for citizens
Err ... immigrants are also citizens leh.
Regulators
22-01-10, 12:16
wow a different tune u r singing here, i thought used to despise hdb lifestyle with all those delinquents at void decks, graffitti etc etc?
I do like the way the system works now, but perhaps tweak it to be purely a citizen's right, rather than PR/immigrants. When i retire from the corporate world, I would go back to HDB living and lead the simple life.
HDB should always remain the social safety net for citizens
..........
..........
JPM büll property; say upturn could last through 1H2012
This sector report highlights Christopher Gee's views that:
1. The Singapore property sector is in an upturn that could last through to 1H 2012;
2. Singapore property developers like City Developments and Wing Tai provide the best leverage to this upturn;
3. The Singapore property developer stocks should outperform the S-REITs.
Upgrade Wing Tai to Overweight from Neutral. Downgrade A-REIT, CapitaRetail, China Trust to Neutral from Overweight.
Top Picks: City Devs, Capitaland, Fraser Centrepoint Trust, CDL Hospitality Trusts, and CapitaMall Trust. Raise TPs CDL Hosp, City Devs, Guocoland, WP.
Property developers to move on RNAV upgrades: Singapore property developers' share prices tend to close the gap (and may even trade at a premium) to RNAV estimates during market up-turns on the expectation of sustained increases in underlying property prices. We expect the Singapore property developers to deliver a blended 13% price return in 2010.
S-REITs to deliver single-digit total returns in 2010: We expect the S-REITs will begin to trade like REITs normally trade in 2010 and generate aggregate 7% total returns this year, dominated by the yield.
Key sector risks: A reversal in the currently buoyant liquidity conditions
and a sudden, unanticipated rise in risk-free rates across the curve would
dampen sentiment towards the sector. Lowered physical property price growth expectations would be a de-rating catalyst for the stocks in the sector.
Wah!
1st half of 2012?
JPMorgan copied the number from the movie "2012"?
wow a different tune u r singing here, i thought used to despise hdb lifestyle with all those delinquents at void decks, graffitti etc etc?
retire mah, dun need to watch out for kid no more. they can graffitti my wall for all i care.
btw reg, thanks for the jb lobang. agent is quite good. thanks!
in retrospect, you're right. my tune is changing because at the end of the day, i still want access to cheap HDB housing no matter what - so i'm selfish in this respect.
i fear all the noise in the papers and forum is gonna change things. people should just let the system be
Regulators
22-01-10, 12:44
it is not the graffitti outside ur house, it is the paint splashed at your door even if it is the wrong house...lol... Maybe u can consider moving back to East Coast when u retire and I think people there seem to be more civilised.
retire mah, dun need to watch out for kid no more. they can graffitti my wall for all i care.
it is not the graffitti outside ur house, it is the paint splashed at your door even if it is the wrong house...lol... Maybe u can consider moving back to East Coast when u retire and I think people there seem to be more civilised.
yup yup, IF it's not been enbloc-ed yet.
I LOVE EAST COAST!!!!!!!!!! Laid back, yet atas feel...
In fact, although I'm not an angmo, my likes are pretty much similar to theirs. Colorful areas, eg. Little India, rowdy market areas etc... are all nice. Just don't want bland boring HDB heartlander estate (because all are sama sama and cookie cutter)...
Dwn !!!!!!!!
LOL thats fast ~ :D
Good New Thread ! :cheers1:
Then the buyers offer COV of $500,000 also no use. Just look at his "new mercs e-class" and "Z4". Already going to cost $500,000. :p
How can HDB prices come down when there are people like "focus" staying there?
Z4 is like a woman's car leh ... :o
Property_Owner
22-01-10, 15:20
Z4 is like a woman's car leh ... :o
Focus should be a guy right.
Focus should be a guy right.
he buy for his darling ... :p
I beg to differ ..... Quite nice leh
http://www.bild.de/BILD/auto/fotos/2009/bams/bmw-z4-is-fotos/bmw-z4-is-14293302-mbqf,templateId=renderScaled,property=Bild,height=349.jpg
I beg to differ ..... Quite nice leh
http://www.bild.de/BILD/auto/fotos/2009/bams/bmw-z4-is-fotos/bmw-z4-is-14293302-mbqf,templateId=renderScaled,property=Bild,height=349.jpg
u have to agree its a chick magnet ~~ :o
u have to agree its a chick magnet ~~ :o
dunno about that but the 0-100 after JB3 and some nice downpipes will be 4secs so that's really fun
new2mondrian
22-01-10, 18:27
Property_owner,
Thanks for starting a new thread!!!
My bets for 2010:
HDB: Limited upside from current levels. Price normalisation measures expected given it is anticipated to be an election year.
Mass market (OCR/RCR): Limited upside given close proxy to HDB segment, though some upside will be expected for properties close to future land sales or new developments being announced.
Limited upside for landed segment in the OCR region, unless HDB segment surprises on the upside.
High end segment (CCR): May be mixed given the supply of TOP units coming on board.
If I have $10M, I will look for the biggest land plot I can find in the CCR in 2010. That's where i place my bets on in 2010.
Actually I also wanna comment on HDB dwellers.. I dunno wat the heck are they staying there becoz so many of the families staying on the same floor as mine easily 2-3 cars..making me feel ashame of myself. Going home late at night is always dreadful becoz I have to park all the way to the rooftop..just imagine 10 cars on 1 level of a HDB block where I am staying. This is insane man.. they should all sell lower and upgrade to private in double quick time so genuine HDB buyers can get at more affordable price and yeah then we can stop blaming focus :) :)
So many HDB dwellers here! woah....
looks like the graffiti, delinquents and loan sharking fears may be overblown. otherwise many of the millionaire forumers (hiding in HDB) here won't be posting in peace.
bargain hunter
22-01-10, 19:21
similar views with you. :p
There are plenty of others who will highlight the positive news, so here's some data from URA website which may not be emphasised by the media (Since its the start of a new year, I am not here for war but to make peace. :) , just some contrarian info):
For the whole of 2009, rentals of private residential properties decreased by 14.6%. Rentals of non-landed properties in CCR, RCR and OCR decreased by 15.9%, 14.9% and 14.0% respectively.
As at 4th Quarter 2009, there were 60,476 private residential units in the pipeline. Of these, 34,234 units were still unsold. These comprised 3,317 units that had been launched for sale by developers and 10,620 units which had the pre-requisite conditions for sale and could be launched for sale immediately. The remaining 20,297 units with planning approvals did not have the pre-requisite conditions for sale.
Of the 60,476 uncompleted units of private housing from projects in the pipeline, 22,390 units, 17,390 units and 20,696 units were in CCR, RCR and OCR respectively.
Of these, about 45,518 private residential units were expected to be completed between 2010 and 2013.
Property_owner,
Thanks for starting a new thread!!!
My bets for 2010:
HDB: Limited upside from current levels. Price normalisation measures expected given it is anticipated to be an election year.
Mass market (OCR/RCR): Limited upside given close proxy to HDB segment, though some upside will be expected for properties close to future land sales or new developments being announced.
Limited upside for landed segment in the OCR region, unless HDB segment surprises on the upside.
High end segment (CCR): May be mixed given the supply of TOP units coming on board.
If I have $10M, I will look for the biggest land plot I can find in the CCR in 2010. That's where i place my bets on in 2010.
So many HDB dwellers here! woah....
looks like the graffiti, delinquents and loan sharking fears may be overblown. otherwise many of the millionaire forumers (hiding in HDB) here won't be posting in peace.
http://bhtest.asia1.com.sg/mnt/static/image/images/topMasthead_small.gif
Q4 median CÖV for HDB resale transactions söärs to $24,000
Kalpana Rashiwala
The Business Times
Friday, 22 January 2010, 12.53 pm
The volume of resale transactions declined by about 23% from 11,649 cases in Q3 2009 to 8,926 cases in Q4 2009. The total number of resale transactions in 2009 was 37,205, an increase of 31% over 2008.
HDB also said the median Cash-Over-Valuation (CÖV) amount among all resale transactions was $24,000 in Q4 2009, döüblë the $12,000 in Q3 2009.
In 4th quarter last year, 93% of transactions were above valuation. 'The median COV amount has stabilised in recent months, with the figure for the 1st half of this month down to $22,000,' HDB said.
http://www.theedgesingapore.com/images/logo.png
Marine Parade condo prïcës head nörth
The Edge
Monday, 18 January 2010
http://www.singaporeprimedistricts.com/pic/property//84_4acb0e6226324.jpg
Cote D’Azur
Private previews of The Shore Residences (the former Rose Garden enbloc site) by Far East Organization in December followed by an official launch on Jan 1 drew crowds to the showflat on weekends. The new 408-unit development opposite Katong Shopping Centre has seen close to 200 units sold at an average price of $1,175 psf as at last week.
What’s more, the project has also spurred renewed interest in the Marine Parade-Amber Road neighbourhood in East Coast, according to the URA Realis database of caveats lodged from Dec 18 to Dec 23.
The development that has seen close to half a dozen units change hands at prices ranging from $920 to $1,000 psf in December was the 612-unit Cote D’Azur, a 99-year leasehold condominium completed in 2004 by Fraser Centrepoint Homes. The highest transacted price at Cote D’Azur last month was for an 840 sqft, 4th-floor apartment, which was sold for $840,000 ($1,000 psf), according to a Dec 1 caveat. The seller had bought the apartment only eight months earlier for $690,000, or $822 psf, hence seeing a 22% capital appreciation in that short period. It shows just how dramatic the turnaround in the market was last year.
2 1,141 sqft apartments — one on the 18th floor of Block 68 and the other on the 7th floor of Block 66 — were sold for $1.088 million ($954 psf) and $1.05 million ($920 psf), respectively in December. The owner of the 18th-floor unit had purchased it for $687,300 ($602 psf) in July 2002 when the project was first launched. Thus, the seller saw a 58.5% capital gain after 7 years. Likewise, the owner of a 7th-floor unit had also purhased it from the developer for $662,070, or $580 psf, thus seeing a 58.6% gain over the same period.
2 4th-floor apartments in Block 66 were sold in late December, according to caveats lodged on Dec 21 and 22. One was a 904 sqft unit that was sold for $836,000 ($925 psf), while the other was a 1,539 unit that went for $1.52 million ($987 psf). The owner of the 904 sq ft unit had purchased it from the developer in August 2004 for $472,000, or $522 psf. At that time, the property market was at the bottom of the cycle, thus the owner saw a 77% gain from the sale after 5 years.
The owner of the 1,539 sq ft apartment had purchased the unit in July 2002, when the project was launched, for $854,340, or $555 psf. He enjoyed a 78% price appreciation after seven years.
Across the road from Cote D’Azur is the 546-unit freehold condo The Sea View by Wheelock Properties, which was completed in 2008. In December, 2 apartments at the high-end project were sold at prices in the $1,400 psf range.
A 6th-floor apartment of 1,410 sqft at Block 37 of The Sea View was sold for $2 million ($1,418 psf). The last time the property changed hands was in a sub-sale in July 2006, when it was sold for $1.18 million ($838 psf). The first owner had purchased the unit for $1.08 million ($769 psf) when the project was first launched in July 2005.
A 19th-floor, 1,216 sqft apartment at Block 31 of The Sea View was sold for $1.726 million ($1,420 psf) in December. The owner had purchased the property in a sub-sale in April 2008 for $1.568 million ($1,290 psf).
Also in the neighbourhood is One Amber, a 562-unit development by joint developers UIC, Singapore Land and UOL Group. The project is expected to receive its temporary occupation permit in 1Q2010. The most recent transaction was that of a 15th-floor apartment in one of the 4 23-storey blocks. The unit was sold for $1.47 million ($1,120 psf). The owner had purchased the 1,313 sqft apartment for $1.01 million ($769 psf) in December 2006, hence enjoying a 46% gain.
From the transaction prices in the secondary market, it is clear that prices in the Marine Parade-Amber Road neighbourhood are heading back to the pëäk levels seen in mid-2007.
http://bhtest.asia1.com.sg/mnt/static/image/images/topMasthead_small.gif
URA Q4 private home price index up 7.4%; 2009 up 1.8%
Kalpana Rashiwala
The Business Times
Friday, 22 January 2010, 12.40 pm
Urban Redevelopment Authority's official price index for private homes rose 7.4% in Q4 2009 over the preceding quarter, slightly higher than the 7.3% rise for the period based on its flash estimate released on Jan 4 this year.
URA said its price index for office, shop and industrial properties increased by 1.0%, 0.6% and 1.8% respectively in the Q4 2009 over the preceding quarter.
For the whole of 2009, prices of private residential properties increased by 1.8%, while those of office, shop and industrial properties decreased by 16.4%, 6.1% and 14.4% respectively, URA said.
Rëntäls of private residential and industrial properties ïncrëäsëd by Ö.6% and 0.3% respectively quarter on quarter in Q4 2009, while those of office and shop properties decreased by 3.3% and 1.4% respectively over the same period.
For the whole of 2009, rentals of private residential properties, office, shop and industrial properties decreased by 14.6%, 23.6%, 7.4% and 13.4% respectively.
Although Private Residential rental is on an upturn with a quarterly gain of 0.6% in Q4 '09, some retard may still choose to con others into believing rental is still on a downturn.
HSBC say ...
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.
The retard says otherwise.
Who should I believe? HSBC or the retard?
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.
The retard says otherwise.
Who should I believe? HSBC or the retard?
aiyo is there a need to retard here retard there?... be polite leh :(
My view is, the rental and over supply has been going on for a while.. It is not going to have much effect in short term (maybe a year or two). But this will have a cumulative effect when disappointment strikes. For this 1-2 years, the IR stories should still dominate. So price will hold or
move upward unless the world sink into recession again.
As the economy recovers, and china, hk property at near bubble pricing, Singapore is obvious target for international buyer (if ppl believe that next decade belongs to Asia and with that IR stories)
As long as high end segment moves, the mid class segment pricing will be stretched upwards.
With developers still pushing out new projects, they will not run out of stories to rev up the heat. Just my thoughts. :2cents:
similar views with you. :p
There are plenty of others who will highlight the positive news, so here's some data from URA website which may not be emphasised by the media (Since its the start of a new year, I am not here for war but to make peace. :) , just some contrarian info):
For the whole of 2009, rentals of private residential properties decreased by 14.6%. Rentals of non-landed properties in CCR, RCR and OCR decreased by 15.9%, 14.9% and 14.0% respectively.
As at 4th Quarter 2009, there were 60,476 private residential units in the pipeline. Of these, 34,234 units were still unsold. These comprised 3,317 units that had been launched for sale by developers and 10,620 units which had the pre-requisite conditions for sale and could be launched for sale immediately. The remaining 20,297 units with planning approvals did not have the pre-requisite conditions for sale.
Of the 60,476 uncompleted units of private housing from projects in the pipeline, 22,390 units, 17,390 units and 20,696 units were in CCR, RCR and OCR respectively.
Of these, about 45,518 private residential units were expected to be completed between 2010 and 2013.
bargain hunter
22-01-10, 21:00
i agree with you on this. that's why i said, i was just lifting all of that info below directly from the URA website because it will not be emphasised by the media.
My view is, the rental and over supply has been going on for a while.. It is not going to have much effect in short term (maybe a year or two). But this will have a cumulative effect when disappointment strikes. For this 1-2 years, the IR stories should still dominate. So price will hold or
move upward unless the world sink into recession again.
As the economy recovers, and china, hk property at near bubble pricing, Singapore is obvious target for international buyer (if ppl believe that next decade belongs to Asia and with that IR stories)
As long as high end segment moves, the mid class segment pricing will be stretched upwards.
With developers still pushing out new projects, they will not run out of stories to rev up the heat. Just my thoughts. :2cents:
http://www.h88.com.sg/images/h88_masthead_logo.jpg
HDB prices up 8.1% from a year ago
H88
Friday, 22 January 2010, 17:02
http://www.h88.com.sg/images/content/2010-01-22/hdb4q.jpg
If you have bought your HDB flat a year ago, congratulations because you are on paper 8.1% richer!
The 2009 4th Quarter results from HDB is out, rising 3.9% and beating earlier flash estimates by 0.1%. This brings the year-on-year increase to 8.1% and the resale index to an all-time historical high of 150.8.
The median Cash-Over-Valuation (COV) was S$24,000 over the last quarter, with over 93% of flats selling with COV.
Ladies and gentlemen who hail from HDB dwellings, when you are on your way home tonight, remember to buy a bottle of champagne or flowers for your family. After all your biggest asset has made you 8.1% in a year, more than any fixed deposit in Singapore can dream about. If your flat was worth 300k a year ago, you "earned" 26k!
Oh ... that is unless you have yet to buy a flat to call your own.
http://www.sph.com.sg/images/logo_st.png
Private home rënts to rïsë
Fiona Chan
The Straits Times
Friday, 22 January 2010, 9.48 pm
http://www.straitstimes.com/STI/STIMEDIA/image/20100122/rent.jpg
Private home rents halted their slump and started to turn around with a 0.6% rise in the fourth quarter of last year. -- Photo: Alphonsus Chern, ST
Things are looking up for landlords of private homes, such as condominiums and landed houses.
After suffering through 5 quarters of rental decline and a 20% drop in rents since 2008, they may finally be able to raise their rates this year.
Private home rents halted their slump and started to turn around with a Ö.6% rïsë in the 4th quarter of last year, according to figures released by the Urban Redevelopment Authority (URA) on Friday.
Although rents still haemorrhaged 14.6% for the whole of last year, consultants say they have stabilised and are on the way to rëcövëry.
'From September last year, we started seeing more landlords räïsë rents off the lows of the 1st and 2nd quarters of last year,' said Mr Donald Han, managing director of Cushman & Wakefield. 'I think the trend will probably continue this year in anticipation of an economic recovery.'
As economic growth picks up, businesses including multinationals are stepping up on hiring and are likely to bring in more expatriates, who form the bulk of tenants of private homes in Singapore, Mr Han said.
All these arguments about supply and rental going up or down are irrelevant.
Property prices will always go up in the long term. Hence properties should only be bought. Not sold.
That's the central tenet of the Propertism religion. Those who believe in Propertism will attain salvation, whether its 2010 B.C. or A.D. 2010. :cheers1:
Why are Real Estate Prices Escalating in Jerusalem?
by Baruch Finkelstein
(IsraelNN.com)
Anyone who purchases property in the central locations of Jerusalem can rest assured that they invested their money safely, for although, prices may decline for a short period, (although there are no indications presently of a price decline) eventually they will rise again.
When we talk about supply, does that include FEO's eternal supply of unsold condos like Rafflesia? The Bayshore? Tanglin View? Hillview Regency? and goodness knows how many more that have been around for umpteen years?
Should we ask FEO's boss Mr. Ng why he doesn't quickly liquidate all his condos into cash, so that he can:
1. Donate to charity; :scared-4:
2. Buy an Aston Martin; :spliff:
3. Buy noodles; :doh:
4. Go for a luxurious holiday? :p
Regulators
22-01-10, 22:17
i like colourful areas as well, but not monotone areas with only parapoondeks
I LOVE EAST COAST!!!!!!!!!! Laid back, yet atas feel...
In fact, although I'm not an angmo, my likes are pretty much similar to theirs. Colorful areas, eg. Little India, rowdy market areas etc... are all nice. Just don't want bland boring HDB heartlander estate (because all are sama sama and cookie cutter)...
properties should never be bought for the sake of buying
honestly understanding the property market here is quite easy as it's highly logical if you think through it.
HDB prices were kept up because of the undersupply situation the HDB created earlier on, coupled with an influx of easy-PRs/citizens who have taken quite a bit of profit from selling their properties back home; a host of locals that benefitted from enbloc; etc etc - a perfect storm propping up HDB values
Existing HDB owners who bought a 5 rm at say $200k can now sell em at $400k. So for them to take profit and upgrade to mass market condos was easy peasy - the gap wasn't that large and it was affordable.
This 'upgrade gap' is important and it defines the relationship of HDB-Mass Market Condos. The smaller the gap, the higher the demand for mass market condos - and inversely. And always remember HDB has been supported by high demand, low online supply, and loose immigration policies.
Then think: what happens when all those flats being released in 2009/2010 come online? and couple this with immigration tightening in an election year to please the masses. then think further about higher interest rates in china and singapore, and the waning of the 'IR' indirect effect. Then add a huge influx of mickey mouse units unprecedented in singapore history, typically owned as a 2nd property of existing HDB or mass market owners.
That's the demand and supply side.
Now start thinking about the launches you've been to and the michael jackson concert effect you experience.
huge masses; bidding effect; lying agents; misleading marketing materials; and out of this world showrooms that don't match up. if you bring a kid to a disneyland castle, he'll start wishing he lived in one and comes up with flights of fancy on how this room will be this, that room will be that, with the devil always whispering in one ear.
all these have today made angsuah the new tanglin, balestier the new novena, lower delta the new river valley, and little india the new prime city area.
5 years ago if someone says: would you like to have a chance to stay next to mustafa, but next to an mrt station, minutes from orchard - all for $550psf. OR: we're building a condo over old docks, with full view of the sea, mrt station and future shopping next door, minutes from CBD - all for $600psf. Which would you have bought?
what holds true in the past, holds true today if you strip away the hype and lies
In July 09, i made the call for my favourite areas as carribean, sentosa, tg rhu and marina bay.
This year, i make the call for marina bay and tg rhu - esp the latter when govt sales and announcements come online.
proud owner
22-01-10, 22:46
http://www.sph.com.sg/images/logo_st.png
Private home rënts to rïsë
Fiona Chan
The Straits Times
Friday, 22 January 2010, 9.48 pm
http://www.straitstimes.com/STI/STIMEDIA/image/20100122/rent.jpg
Private home rents halted their slump and started to turn around with a 0.6% rise in the fourth quarter of last year. -- Photo: Alphonsus Chern, ST
Things are looking up for landlords of private homes, such as condominiums and landed houses.
After suffering through 5 quarters of rental decline and a 20% drop in rents since 2008, they may finally be able to raise their rates this year.
Private home rents halted their slump and started to turn around with a Ö.6% rïsë in the 4th quarter of last year, according to figures released by the Urban Redevelopment Authority (URA) on Friday.
Although rents still haemorrhaged 14.6% for the whole of last year, consultants say they have stabilised and are on the way to rëcövëry.
'From September last year, we started seeing more landlords räïsë rents off the lows of the 1st and 2nd quarters of last year,' said Mr Donald Han, managing director of Cushman & Wakefield. 'I think the trend will probably continue this year in anticipation of an economic recovery.'
As economic growth picks up, businesses including multinationals are stepping up on hiring and are likely to bring in more expatriates, who form the bulk of tenants of private homes in Singapore, Mr Han said.
landlords raising their rents becos they paid higher and higher price for their properties ..
but actual rental ..has it really gone up ?
why do i still see 3k neg for river valley area .. 1500 sqft 3 bedroom ?
it is obvious theres a surplus of ready to rent units .. and the number will increase ..
although many argue that buyers nowadays can afford to keep them empty ..waiting for capital gain .. this holds true for the rich foreign buyers .. but local buyers ..many would prefer ( or need ) to rent them out asap ..
look at Casa Merah, botannia, etc etc .. and see how many units going for rent.. alot alot
a 4-5 bedroom 2000 sqft asking 5k is common ..
like i said many times in this forum .. we only see/hear from agents .. XXX projects sold for YYYY psf ... and asking $ZZZZ rent per month
BUT we never see/hear from them .. XXX project actually only rent out at $zzzz a mth where zzzz << ZZZZ ..NEVER .. no one dare to disclose .. and yet all arguing its still good yield ..compared to leaving the money in the bank ...
i do think asset prices will still go up .. but rental yield is no longer like before .. and as more and more units going empty for months .. it will be inevitable ..some weaks will succumb and sell below market price ..
and sporeans quite kiasu, kiasi .. see a few sell lower .. it could start a selling trend ..
i know for a fact , 2 above average income friends .. looking to buy .. dont mind tenanted units .. but the tenanted units they viewed so far, which they like, have miserable yield .. and in prime districts .. and they pass on those units .. mind you they have cash ..
so a low rented unit will have problem selling .. at least .. in my opinion ..
Property_Owner
23-01-10, 02:13
Hi people. Maybe cause I own a numbers of units that makes me more of a bull for e time been since prices has been heading north. It's not easy to be holding multiple properties. Sometimes i wish life is just simple as a regular Joe.
You have to know a bit of the history of real estate market of singapore. We used to have a 10 years cycles. Then it was reduced to 7 years. Now it is 2 years. What will happen next of course we don't know. This cycle seen to be getting shorter.
My feel now is that I had just started to see a bit of light @ e end of the tunnel. Of course I hope things will turn out better in next few years.
Can u imagine how it feels after Lehman's. After prices heads south. during e worse days, agents calling me everyday giving me 1300psf for my Reflection, 1500psf for my MBR, 1700psf for Ardmore 2. Asking me how's my business. Trying to test if I'm bleeding. Telling nightmares are coming, winter is here. Sell or you see blood......
Yup, business was not so good for me at that time. I did ask myself, must I sell? Can I hold? Prices are going into a free fall. When is the bottom? If winter really here? Where is tat ''Light''? Life is like a roller coaster ride and it's bad for an old man with a weak heart.
Then I try to think again.... I start to come to senses that since prices are falling...why r there buyers willing to buy and take e risk. If I can hold, why sell? Since I dun sell, must I buy? I must start to behave as a buyer rather as a seller. Be positive, when u call an agent as a buyer...he/she will tells u: Mr buyer...now is the best time to buy...never time e bottom..how low can prices drop...fire sales don't come everyday...(Of course some of you will feel that these words from agents are for marketing only)
Of course there are other factors in my mind during that ''Winter'' duration. One wrong move and i'm heading to my grave, another unforgiving event will wipe out my assets.... ''PAIN=GAIN=RISK=PAIN''
Yup, I know that there r claims to an over-supply now, sucks rental market, USA not doing well. Stock dip these few days...China, Haiti, India...you can think of all e negatives and e lists goes on....
Maybe u can think so other factors...like, as usual Singapore is always one of e first to be out of every recession, we have a first class leaders(guess those from ST forum will start to bash me), strong financial position, strong banking support...think of these and e list goes on too.....
Whether now is the time to buy or sell I can't force you. After all it's your money and you signature on tat option.
Choose your decision carefully.
an agent once suan me...Mr P, you better think carefully. As an agent I can afford to miss e deal. There are still 400 plus unit in MBR for me to sell. but you as a buyer how many deals can you afford to miss? How many units can you buy in your life time. You decide.
That all for now.
Cheers.
all these have today made angsuah the new tanglin, balestier the new novena, lower delta the new river valley, and little india the new prime city area.
5 years ago if someone says: would you like to have a chance to stay next to mustafa, but next to an mrt station, minutes from orchard - all for $550psf. OR: we're building a condo over old docks, with full view of the sea, mrt station and future shopping next door, minutes from CBD - all for $600psf. Which would you have bought?
This is a very good post that supports the Propertism religious belief that property prices will always go up in the long term, simply because fiat money will lose all its value in the end.
At the end fiat money returns to its inner value—zero.” - Voltaire. François-Marie Arouet (21 November 1694 – 30 May 1778).
The action of fiat money returning to its inner value - zero - is manifested by angsuah the new tanglin, balestier the new novena, lower delta the new river valley, and little india the new prime city area.
30 years ago, who would have thought that angsuah could sell for $1,332 psf (The Metropolitan #24-04, 25 Sep 2009)? :doh:
It's really "what holds true in the past, holds true today if you strip away the hype and lies".
Just look at the "Incredible Offer" below!!! :scared-4:
This lying agent had the gall to advertise a 3,400 sf Grange Heights apartment as a "Luxurious Condominium" for $650,000 with vacant possession! That's $191 psf!!!
Didn't this lying agent know that Grange Heights was not in the prime part of River Valley, and vacant possession meant no rental!!! ZERO RENTAL YIELD!!! (proud owner will strongly object to this one).
Which fool would pay $191 psf for a condo hidden far from the main River Valley Road, with no rental yield some more? Really an "Incredible Offer"!!!
http://i305.photobucket.com/albums/nn211/jlrx_bucket/IncredibleOffers.jpg
Someone here may want to give this agent a scolding, but remember to add a "6" in front of his telephone number, not a "9" or "8" because this stupid agent didn't even bother to apply for a mobile phone.
Wonder how we're going to reach him if he's out of his office. Stupid!!!
Property_Owner
23-01-10, 02:23
This is a very good post that supports the Propertism religious belief that property prices will al....................
Lol, now my hangover is gone..
Good night:)
moneyspinner
23-01-10, 08:53
Hi people. Maybe cause I own a numbers of units that makes me more of a bull for e time been since prices has been heading north. It's not easy to be holding multiple properties. Sometimes i wish life is just simple as a regular Joe.
You have to know a bit of the history of real estate market of singapore. We used to have a 10 years cycles. Then it was reduced to 7 years. Now it is 2 years. What will happen next of course we don't know. This cycle seen to be getting shorter.
My feel now is that I had just started to see a bit of light @ e end of the tunnel. Of course I hope things will turn out better in next few years.
Can u imagine how it feels after Lehman's. After prices heads south. during e worse days, agents calling me everyday giving me 1300psf for my Reflection, 1500psf for my MBR, 1700psf for Ardmore 2. Asking me how's my business. Trying to test if I'm bleeding. Telling nightmares are coming, winter is here. Sell or you see blood......
Yup, business was not so good for me at that time. I did ask myself, must I sell? Can I hold? Prices are going into a free fall. When is the bottom? If winter really here? Where is tat ''Light''? Life is like a roller coaster ride and it's bad for an old man with a weak heart.
Then I try to think again.... I start to come to senses that since prices are falling...why r there buyers willing to buy and take e risk. If I can hold, why sell? Since I dun sell, must I buy? I must start to behave as a buyer rather as a seller. Be positive, when u call an agent as a buyer...he/she will tells u: Mr buyer...now is the best time to buy...never time e bottom..how low can prices drop...fire sales don't come everyday...(Of course some of you will feel that these words from agents are for marketing only)
Of course there are other factors in my mind during that ''Winter'' duration. One wrong move and i'm heading to my grave, another unforgiving event will wipe out my assets.... ''PAIN=GAIN=RISK=PAIN''
Yup, I know that there r claims to an over-supply now, sucks rental market, USA not doing well. Stock dip these few days...China, Haiti, India...you can think of all e negatives and e lists goes on....
Maybe u can think so other factors...like, as usual Singapore is always one of e first to be out of every recession, we have a first class leaders(guess those from ST forum will start to bash me), strong financial position, strong banking support...think of these and e list goes on too.....
Whether now is the time to buy or sell I can't force you. After all it's your money and you signature on tat option.
Choose your decision carefully.
an agent once suan me...Mr P, you better think carefully. As an agent I can afford to miss e deal. There are still 400 plus unit in MBR for me to sell. but you as a buyer how many deals can you afford to miss? How many units can you buy in your life time. You decide.
That all for now.
Cheers.
This is an excellent reflection of what many, I dare say, are going through in deciding whether to take the plunge in view of so many ongoing uncertainties. And these uncertainties are not going to end anytime soon. In fact, if any, it appears to have increased heightening violatility concerns both in the equities and the property market. What will most probably be the market direction in the foreseeable future will decide whether the decision should be a BUY or a SELL. It's not easy!
This is an excellent reflection of what many, I dare say, are going through in deciding whether to take the plunge in view of so many ongoing uncertainties. And these uncertainties are not going to end anytime soon. In fact, if any, it appears to have increased heightening violatility concerns both in the equities and the property market. What will most probably be the market direction in the foreseeable future will decide whether the decision should be a BUY or a SELL. It's not easy!
The modern monetary system is a big fiasco. Through inflation, the masses lose their wealth as currency values are eroded. For the man-in-street, it is an endless uphill climb against ever-increasing prices in commodities and other items for basic sustenance.
Are properties worth more today simply because Singapore has become a better place to stay, play and work in? Personally, I believe inflation has a large part to play in the huge rise in prices over the last few decades. The purchasing power of the SGD has dropped tremendously. I remember my grandmother talking about 5c noodles and my dad reminiscing about 30c packets of Chui Kueh (6 in a brown paper pack). Today, these can't be found for anything less than a few dollars.
Ultimately, given the close links between property prices and inflation that we have seen so far, the bet then becomes one on whether inflation will continue to soar. If one subscribes to that belief, he had better be hedged against it to avoid being priced out of the market.
The sad thing about the situation is that the divide between the rich and the poor will continue to grow. The rich will find it easier to become richer while the poor will find it tougher to even just cope with daily living. As long as this trend is not reversed, there is only one inevitable outcome - anarchy as the masses rebel against the system. From the ashes and dust will then come a new system of growth and decay, similarly powered by the human emotions of greed and fear.
moneyspinner
23-01-10, 15:00
The modern monetary system is a big fiasco. Through inflation, the masses lose their wealth as currency values are eroded. For the man-in-street, it is an endless uphill climb against ever-increasing prices in commodities and other items for basic sustenance.
Are properties worth more today simply because Singapore has become a better place to stay, play and work in? Personally, I believe inflation has a large part to play in the huge rise in prices over the last few decades. The purchasing power of the SGD has dropped tremendously. I remember my grandmother talking about 5c noodles and my dad reminiscing about 30c packets of Chui Kueh (6 in a brown paper pack). Today, these can't be found for anything less than a few dollars.
Ultimately, given the close links between property prices and inflation that we have seen so far, the bet then becomes one on whether inflation will continue to soar. If one subscribes to that belief, he had better be hedged against it to avoid being priced out of the market.
The sad thing about the situation is that the divide between the rich and the poor will continue to grow. The rich will find it easier to become richer while the poor will find it tougher to even just cope with daily living. As long as this trend is not reversed, there is only one inevitable outcome - anarchy as the masses rebel against the system. From the ashes and dust will then come a new system of growth and decay, similarly powered by the human emotions of greed and fear.
Ageed. The big issue is INFLATION. If you can afford, its better to hedge than not to hedge as over time, the $ you hold will not be able to get the quantum of things you wish to purchase. It all boils down to unlimited $ vs limited properties/commodities available.
http://www.sph.com.sg/images/logo_btwkend.png
Almost äll 120 released Cube 8 units söld
CDL intends to release additional units in the 177-unit freehold condo over the weekend
Kalpana Rashiwala
The Business Times Weekend
Saturday, 23 January 2010
http://www.sg-house.com/classifieds/attachments/new-launches/11315d1261564844-cube-8-district-11-former-albany-and-thomson-mansion-cube8-pic.jpg
Cube 8
City Developments Ltd (CDL) has sold almost all of the 120 units it had released as of yesterday evening at its Cube 8 condo at Thomson Road during a two-day preview. Most of the units were sold yesterday .
CDL released an initial 80 units at an average price of $1,250 psf but due to strong demand, offered a further 40 units. Prïcës of the latter batch are understood to have been ïncrëäsëd slightly, probably in the order of 2%-3%.
The company said yesterday evening that it intends to release additional units in the 177-unit freehold condo over the weekend. 'The strong sales-to-date for Cube 8 reflects the positive sentiment in the property market and attests to our ability to market the appropriate products at the right time,' said CDL's group general manager Chia Ngiang Hong.
1- and 2-bedrooms were the first to be snapped; for 3-bedders, higher floor units were in greater demand, BT understands. The 36-storey condo is being built on the site of the former The Albany and Thomson Mansions in District 11. The 39 1-bedders have been sold out and a substantial number of the 58 2-bedroom apartments have also found takers.
The one bedders, with an area of 560 sqft, were priced from $740,000 upwards, BT understands. Prices of 2-bedders start from $1.1 million while 3-bedroom apartments, ranging from 1,335-1,475 sqft, cost anywhere from nearly $1.6-1.8 million. 4-bedders are priced at about $2.5 million each, while sky villas or penthouses cost at least $3.5 million apiece.
BT understands that Singaporeans had bought the majority of units as of yesterday. Förëïgnërs (including permanent residents) picked up about 20-25%. Ïndönësïäns, Indians and Koreans were among those said to have bought.
CDL opened the showflat to former owners of The Albany and Thomson Mansions on Thursday. After they had made their selections, directors and staff were invited. The 'public preview' began yesterday.
CB Richard Ellis and Huttons are the marketing agents for Cube 8.
http://www.sph.com.sg/images/logo_btwkend.png
Property market eyes fruits from Rëmäkïng Singapore
Analysts büllïsh after URA data shows hike in Q4 prices and dïp in väcäncïës
Kalpana Rashiwala
The Business Times Weekend
Saturday, 23 January 2010
The increase in Singapore private home prices moderated in the 4th quarter, but there are also signs of things firming again if the economy continues to grow. After all, much of the physical infrastructure for the Rëmäkïng Singapore story is being delivered thïs yëär.
http://www.businesstimes.com.sg/mnt/media/image/launched/2010-01-23/BT_IMAGES_KRURAY23.jpg
Urban Redevelopment Authority's private residential rëntäl indices posted modest quarter-on-quarter increases in Q4 - marking a rëvërsäl of the declines posted in the preceding quarter. The islandwide väcäncy rate for private homes dïppëd to 5% as at end-2009, compared with 6.2% as at end-Q3 2009 and 6.1% as at end-2008.
A total 10,488 private homes received Temporary Occupation Permit (TOP) last year - the highest level since 2004 when 11,799 homes were completed. Taking into account demolitions, the net increase in the stock of completed private homes last year was 8,285. However, there was an even bïggër net jümp in dëmänd for physically cömplëtëd private homes last year to a 9-year high of 10,520 units, said Colliers Intenational.
DTZ executive director Ong Choon Fah argues that with the number of private homes receiving TOP this year expected to slip 28% to 7,584 units (based on URA's surveys of developers), väcäncy will eäsë fürthër and rënts will continue to fïrm üp across the board.
Singapore also expects to see an influx of workers and expats as the integrated resorts and Marina Bay Financial Centre become operational. This will drive up demand for rental homes across the whole spectrum - from HDB flats to upscale condos.
Landed home prices, especially those for terrace houses, posted a sparkling performance last year. URA's landed property price index rose 7.7% in 2009, compared with just a 0.5% rise for non-landed homes. The terrace house price index appreciated 10% in 2009, followed by semi-detached houses (up 8.8%) and detached houses, (up 5.6%). Agents credit the landed sector's resilience to its relatively more limited supply.
URA's overall private home price index (covering both landed and non-landed segments) rose 7.4% quarter-on-quarter in Q4, translating to a full-year increase of 1.8%. The index slipped 18.1% in the 1st half of 2009 before recovering 24.3% in the July to December period.
Developers sold 14,688 units in 2009, nearly 3.5 times the 2008 figure and close to the all-time high of 14,811 in 2007. DTZ's South-east Asia research head Chua Chor Hoon forecasts a take-up of 8,000 to 10,000 units in 2010. Consultants generally predict 8 to 15% increase this year for URA's overall private home price index, with greater upside for high-end homes.
Knight Frank chairman Tan Tiong Cheng, however, said the pace of price increase for upmarket homes will depend on how many expat tenants pour into Singapore and the size of their rental budgets since the majority of such properties are bought for investment.
On the other hand, mass-market private condo prices may still have room to power up, assuming HDB resale flat prices continue to rally, and especially if the condo launches are in plum locations, Mr Tan added. 'Landed homes will also continue to do well in 2010 due to the scarcity factor,' he added.
URA's figures also show that the supply pipeline of private homes with either provisional or written permission shrank from nearly 65,000 at end-2008 to 60,476 units at end-2009. The number of unsold units in uncompleted private housing projects contracted from 43,414 at end-2008 to 34,234 at end-2009, reflecting developers strong sales last year.
The office market achieved its second consecutive quarter of positive net demand of 301,389 sqft in Q4 2009, higher than the 32,292 sqft posted in Q3. For full year, net demand was minus 236,806 sqft; nonetheless, this was better than in 2002 and 2003, when net demand was minus 926,000 sqft and 1.13 million sqft respectively, notes Colliers director Tay Huey Ying.
Islandwide office vacancy improved slightly from 12.2% at end-Q3 2009 to 12.1% at end-Q4.
The median monthly rental for the choicer Category 1 office space based on rental contracts signed in Q4 was $8.76 psf, down 7.8% from Q3. DTZ says a recovery in office rentals at the end of this year is plausible if the economy grows more strongly than expected and more existing office blocks are redeveloped.
In the retail property segment, URA's shop rental index for the Central Region dipped 1.4% in Q4 over the preceding quarter, resulting in a 7.4% full-year drop. Despite another 404,723 sqft of new shop space being completed in Q4, the islandwide shop vacancy rate improved to 5.7% from 6% in Q3.
Knight Frank's Mr Tan said: 'There is a lot of confidence that with the completion of the IRs, there will be multiplier effects for the retail and private residential property markets. The IRs will attract a lot of MICE visitors, who tend to have higher spending power than the typical tourist. Some overseas visitors drawn by IRs may end up liking Singapore and want to buy a home here, especially if there are prospects of economic recovery.'
'The Government began telling the Rëmäkïng of Singapore story about 5 years ago. Now the physical part of the story is almost ready. And it's about time to reap the fruits of these investments.'
Can u imagine how it feels after Lehman's.
Yes I can. :scared-3:
Although I have no intention of selling my properties whether the market goes up or down, it's really demoralising to see the numbers in my portfolio spreadsheet going down. :scared-5:
That's why it's very important to have a religion - Propertism - so that in times of crisis you can have the faith that property prices will always go up in the long term, simply because fiat money will eventually return to its inner value - zero. :cheers1:
The modern monetary system is a big fiasco. Through inflation, the masses lose their wealth as currency values are eroded.
I remember my grandmother talking about 5c noodles and my dad reminiscing about 30c packets of Chui Kueh.
That is the central tenet of the Propertism religion - that even wise men centuries ago had been able to foresee.
"At the end fiat money returns to its inner value—zero.” - Voltaire François-Marie Arouet (21 November 1694 – 30 May 1778).
"Of all the contrivances for cheating the laboring classes of mankind, none has been more effective than that which deludes them with paper money." Daniel Webster (January 18, 1782 – October 24, 1852) 19th United States Secretary of State.
In order to avoid being "cheated" like what happened to the laboring class, we have to find salvation in Propertism - the belief that property prices will always go up in the long term. Hence properties should only be bought, not sold.
Let us learn from the tribulations of 34 extremely unlucky but faithful Propertist families who bought Pin Tjoe Park in 1984, just before Singapore's first recession hit in 1985.
http://i305.photobucket.com/albums/nn211/jlrx_bucket/PinTjoePark28Oct1984.jpg
At $320 psf and average apartment size of 2756 sf, each of these 34 pitiful families paid a whopping $882,000 per unit, just before Singapore's first recession hit in 1985. :doh:
Who can be more unlucky than them? :banghead:
Ministry of Trade and Industry Statement "The period of easy growth is now over. The recession of 1985 and 1986 is a turning point in our economic development ... Property Market - The excess supply of properties will take time to be absorbed." :scared-3: :scared-3: :scared-3:
Poor pitiful Pin Tjoe Park buyers ... they must be the most unlucky people in the world. The only person more unlucky than them is Mr. Tan Chin Tuan who bought his Tan Chin Tuan mansion in 1939, just before World War II broke out (Ok that's another story :tsk-tsk: ).
Business Times – 22 Sep 2006
Pontiac Land Group buys Pin Tjoe Court for $201m
(SINGAPORE) The existing Pin Tjoe Court comprises 32 apartments and two penthouses. The apartment owners will receive $5.5 million per unit and the penthouse owners $11 million per unit. These sums are about 75 per cent more than the units could fetch had they been sold individually.
****************************************************
I find this Pin Tjoe Park quite interesting, although the price of $320 psf is a bit steep.
I'd wanted to go down to their show room later before they close at 5.00pm, but I just can't seem to get through to their number printed at the bottom-right corner of their advertisement. The line's dead. :simmering:
Strange ... 7330055 ... how come only 7 digits? Starting with a "7" ... is that a fixed line or mobile? :confused:
Nevermind. Better not buy. Forget it!
My fortune teller just told me that next year 1985 Singapore will suffer it's first recession since independence, and property prices will drop 38% !!! :scared-3:
This is how human being re-acts:
Buying Property for Investment or Own Stay = Must Find the cheapest and the best unit available in the project.
When Property Price goes up = Cashing in the profit, buy more property, push up the market price, speculate and be greedy.
When Property Price goes south = Panic selling, everyone wants to get out, cut lost.
When Property market not moving = Worry, predict whether the property is going north or south.
When you buy your property at the right time = They tend to enjoy what they own.
When you buy your property at the wrong time = We blame on everyone.As long as property market does move too much within these few years, everyone will be happy. If happen to go south, then a chaos will happen and will directly hunt Singapore Economy .........
:D :tongue3:
This is how human being re-acts:
Buying Property for Investment or Own Stay = Must Find the cheapest and the best unit available in the project.
When Property Price goes up = Cashing in the profit, buy more property, push up the market price, speculate and be greedy.
When Property Price goes south = Panic selling, everyone wants to get out, cut lost.
When Property market not moving = Worry, predict whether the property is going north or south.
When you buy your property at the right time = They tend to enjoy what they own.
When you buy your property at the wrong time = We blame on everyone.As long as property market does move too much within these few years, everyone will be happy. If happen to go south, then a chaos will happen and will directly hunt Singapore Economy .........
:D :tongue3:
There is potential for chaos to arise because of the information gap that is present in our system. The lack of systemic transparency and knowledge/awareness of the financial system by the masses means that whenever the amount of changes (forced or otherwise) exceed the implicit tolerance threshold of human nature, the natural corrective actions are usually quite cataclysmic. The greater the gap, the more extreme the correction.
This is seen in not only the property markets but also in stock markets and any other systems where there is large information/knowledge disparity. The larger the gaps, the bigger the corrections that must inevitably take place to reattain temporary equilibrium in the systems (like a pressure cooker must let off some steam at some point in time to avoid a total systemic collapse or breakdown).
http://www.todayonline.com/App_Themes/Default/images/icons/WeekendTodayOnlineLogo.png
Private rentals inch upwards
Turnaround comes after 5 quarters of decline
Weekend Today
Saturday, 23 January 2010
Rentals of private residential properties inched 0.6% higher in the 4th quarter of last year, reversing 5 straight quarters of decline. This was a turnaround compared to a decrease of 2.2% posted in the third quarter of last year.
The uptick in rentals was supported by the take-up rate which outstrips supply last year, said Colliers International’s research and advisory director, Ms Tay Huey Ying.
“While the net increase in the stock of private homes hit a 5-year high of 8,285 units in 2009,
demand for physically completed homes hit a 9-year hïgh
, to record at 10,520 units,” she said.
This pushed
occupancy rate to an all-time hïgh of 95%
by end-2009, from 93.9% in end-2008,” she added.
The improving economy has a part to play as well.
“The leasing market also leveraged on the improving economic fundamentals in 2H2009 and began to stabilise,” said CBRE Research executive director Li Hiaw Ho.
By regions, rental of non-landed properties in the prime areas known as the Core Central Region (CCR) and the city fringe areas or Rest of Central Region (RCR) increased by 0.9% and 0.1% respectively in the 4th quarter.
Meanwhile, rental rates for properties in other areas or those known as Outside Central Region (OCR) remained unchanged.
Overall rentals have fallen 14.6% for the whole of last year but were back at mid-2007 levels by Q4, added Mr Li.
Colliers’ Ms Tay expect rents to rise by 5 to 10% this year.
“The number of expatriates is expected to rise in 2010 given the improving business climate and confidence that will lead more firms to consider re-activating hiring plans,” she added.
She expects high-end homes in the CCR, traditionally more popular with expatriates, to experience faster rental growth of 8% to 12%. The mid-tier segment in the RCR is expected to see rental upside of 5% to 8%, while mass-market homes could see rental movements of up to 3%, she added.
Meanwhile, Urban Redevelopment Authority’s final price index showed a growth of 7.4% quarter-on-quarter growth for private homes in Q4, slightly higher than the flash estimate of 7.3%.
Sub-sales clocked 599 units in the 4th quarter — down from 1,342 homes in the previous quarter. In percentage terms however, subsales accounted for 10.3% of all sale transactions in Q4, comparable to the 10.6% in Q3.
Analysts expect private property prices to moderate this year in the light of government’s stance that it would intervene with more measures should the property price growth runs ahead of the economy. Contrary to last year’s bull run in the mass market segment, high-end and luxury properties are expected to lead the market.
landlords raising their rents becos they paid higher and higher price for their properties ..
but actual rental ..has it really gone up ?
why do i still see 3k neg for river valley area .. 1500 sqft 3 bedroom ?
it is obvious theres a surplus of ready to rent units .. and the number will increase ..
although many argue that buyers nowadays can afford to keep them empty ..waiting for capital gain .. this holds true for the rich foreign buyers .. but local buyers ..many would prefer ( or need ) to rent them out asap ..
look at Casa Merah, botannia, etc etc .. and see how many units going for rent.. alot alot
a 4-5 bedroom 2000 sqft asking 5k is common ..
like i said many times in this forum .. we only see/hear from agents .. XXX projects sold for YYYY psf ... and asking $ZZZZ rent per month
BUT we never see/hear from them .. XXX project actually only rent out at $zzzz a mth where zzzz << ZZZZ ..NEVER .. no one dare to disclose .. and yet all arguing its still good yield ..compared to leaving the money in the bank ...
i do think asset prices will still go up .. but rental yield is no longer like before .. and as more and more units going empty for months .. it will be inevitable ..some weaks will succumb and sell below market price ..
and sporeans quite kiasu, kiasi .. see a few sell lower .. it could start a selling trend ..
i know for a fact , 2 above average income friends .. looking to buy .. dont mind tenanted units .. but the tenanted units they viewed so far, which they like, have miserable yield .. and in prime districts .. and they pass on those units .. mind you they have cash ..
so a low rented unit will have problem selling .. at least .. in my opinion ..
We all know it is nice to debate on topics with juicing subjects as such "Will Rivergate drop below $1,000 psf?", "Rental is dropping as nobody is renting!", etc.. However, we should realise that situations can change and we need to be updated and change too.
For the Rivergate case, shouldn't we be discussing "Will Rivergate rise above $2,500 psf?" now that it has hit $1,909 psf?
For rental, why are we still talking about rental dropping, no tenant, etc.?
1. Rënt has rïsen 0.6% in Q4 2009.
2. Dëmänd for physically completed homes has hit a 9-year hïgh.
3. Occüpäncy rate has hit an äll-tïme hïgh of 95%.
Shouldn't we be discussing "Can CCR rent rise more than 12% this year?"? I believe this is more appropriate.
Instead of repeating the hearsays over and over again, why not just get yourself updated with the latest facts at this very moment in this forum? These facts will be beneficial to you.
http://www.todayonline.com/App_Themes/Default/images/icons/WeekendTodayOnlineLogo.png
Private rentals inch upwards
Turnaround comes after 5 quarters of decline
Weekend Today
Saturday, 23 January 2010
Rentals of private residential properties inched 0.6% higher in the 4th quarter of last year, reversing 5 straight quarters of decline. This was a turnaround compared to a decrease of 2.2% posted in the third quarter of last year.
The uptick in rentals was supported by the take-up rate which outstrips supply last year, said Colliers International’s research and advisory director, Ms Tay Huey Ying.
“While the net increase in the stock of private homes hit a 5-year high of 8,285 units in 2009,
demand for physically completed homes hit a 9-year hïgh
, to record at 10,520 units,” she said.
This pushed
occupancy rate to an all-time hïgh of 95%
by end-2009, from 93.9% in end-2008,” she added.
The improving economy has a part to play as well.
“The leasing market also leveraged on the improving economic fundamentals in 2H2009 and began to stabilise,” said CBRE Research executive director Li Hiaw Ho.
By regions, rental of non-landed properties in the prime areas known as the Core Central Region (CCR) and the city fringe areas or Rest of Central Region (RCR) increased by 0.9% and 0.1% respectively in the 4th quarter.
Meanwhile, rental rates for properties in other areas or those known as Outside Central Region (OCR) remained unchanged.
Overall rentals have fallen 14.6% for the whole of last year but were back at mid-2007 levels by Q4, added Mr Li.
Colliers’ Ms Tay expect rents to rise by 5 to 10% this year.
“The number of expatriates is expected to rise in 2010 given the improving business climate and confidence that will lead more firms to consider re-activating hiring plans,” she added.
She expects high-end homes in the CCR, traditionally more popular with expatriates, to experience faster rental growth of 8% to 12%. The mid-tier segment in the RCR is expected to see rental upside of 5% to 8%, while mass-market homes could see rental movements of up to 3%, she added.
Meanwhile, Urban Redevelopment Authority’s final price index showed a growth of 7.4% quarter-on-quarter growth for private homes in Q4, slightly higher than the flash estimate of 7.3%.
Sub-sales clocked 599 units in the 4th quarter — down from 1,342 homes in the previous quarter. In percentage terms however, subsales accounted for 10.3% of all sale transactions in Q4, comparable to the 10.6% in Q3.
Analysts expect private property prices to moderate this year in the light of government’s stance that it would intervene with more measures should the property price growth runs ahead of the economy. Contrary to last year’s bull run in the mass market segment, high-end and luxury properties are expected to lead the market.
http://www.propnex.com/images/PropnexLogo.jpg
Press Release
Core Central (CCR) boom expected on back of private property stability
PropNex
Friday, 22 January 2010
The private residential property market continued its recovery in 4Q09 with a 7.4% increase in its price index to 165.7, just 11.8 points shy of the previous peak in 2Q08 of 177.5.
“We are seeing signs of stability and the potential for sustained growth,” says PropNex CEO Mr Mohamed Ismail, recalling his earlier comments that the price index’s sudden and sharp recovery in 3Q09, with a 15.8% increase over 2Q09, was unlikely to continue at that rate.
“The bullish showing in 2009, especially for mass market projects, has cooled down, now that the demand for such properties, mainly by HDB upgraders, has largely been sated,” he says. “This is evident in the fact that the prices in the Outside Central region (OCR), where the mass market projects are located, only increased by 6.3%. In addition, there were fewer mass market launches in the last quarter of 2009, unlike the middle of the year when hundreds of units would be launched in each project per month.”
He contrasts this with the Core Central region (CCR) and Rest of Central region (RCR), whose prices showed greater increases of 7.3% and 9.5% in 4Q09 respectively.
“The OCR prices increased by 11.8% for 2009 as a whole, while the CCR's and RCR’s prices dropped by 1.8% and increased by 3.0% respectively, because 2009 saw many HDB upgraders entering the mass market,” Mr Ismail explains. “In 2010, we are more likely to see investors returning with confidence to pick up properties in the CCR and RCR at reasonable prices.
He cites The Shore Residences at Amber Road (median sale price of $1,144psf), Parvis at Holland Hill (median sale price of $1,495psf) and Espada at St. Thomas Road (median sale price of $2,337psf) as examples of such properties.
“The latest figures show us that there is still a demand for property,” observes Mr Ismail, “with buyers exhibiting confidence that prices will continue to hold. In fact, I expect the CCR and RCR to lead the private property growth in 2010.”
Mr Ismail forecasts an average growth of 3–4% per quarter in URA’s price index for 2010, with overall growths of 5–8% for the OCR, 8–10% for the RCR and 12–18% for the CCR.
He concludes by explaining that prices in 2010 will also continue to rise due to more developers launching smaller units at higher psf costs, especially from 2Q10 onwards.
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Singapore Property Sector
Cube 8 more than 80% sold over weekend preview
Vikrant Pandey
Singapore Research Team
UOB Kay Hian
Monday, 25 January 2010
We visited the preview of Cube 8 condo located at Thomson Road over the weekend. The developer, City Developments, launched about 120 units during the initial preview (22-24 January) but due to the strong buying demand, it released the remaining 57 units in the project as well. The project saw a strong take-up with more than 140 units (about 80%) sold at an ASP of S$1,200 psf - S$1,300 psf. The strong demand reinforces our positive view on the sustainability of the recovery in the property market. We expect sales momentum to remain at healthy levels of 8000-10,000 units for the whole year and expect the property prices to appreciate by 10-15% in 2010.
Cube 8
Developer: . City Developments Ltd
Location: ... Thomson Road (District 11)
Region: ..... Central Core Region (CCR)
Total Units: 177
Tenure: ..... Freehold
Site Area: .. 72,587 sqft
Type: ........ Condominium
Unit type: .. 1/2/3/4 bedrooms, luxury penthouses
Estimated TOP date: December 2014
Take-up: ... Approx 80%
Avg price (S$psf): S$1,200 - S$1,400psf
Expected yield: 3.25 - 3.5%
Can u imagine how it feels after Lehman's. Life is like a roller coaster ride and it's bad for an old man with a weak heart. One wrong move and i'm heading to my grave, another unforgiving event will wipe out my assets.... ''PAIN=GAIN=RISK=PAIN''
The post above by the Elder of Propertism, Property_Owner who owns 40+ properties, about how he survived the Lehman crisis demonstrates the eternal truth that there could not be gain without pain.
Often, people feel envious or even jealous of the en bloc millionaires. But do people know the pain behind the gain?
In today's sermon on the Propertism religion - the belief that propery prices will always go up in the long term - I will relate the story of a young couple, Mr. & Mrs. Jeremy Lai.
Sometime in mid 1974, Mr. and Mrs. Jeremy Lai bought a 3000 sq ft unit at Singapore's first condominium, Beverly Mai, for $235,000 after seeing the following classified advertisement.
http://i305.photobucket.com/albums/nn211/jlrx_bucket/BeverlyMai19740726.jpg
The rental yield looked good. $2,500 p.m. or $30,000 p.a., that's 12.8% p.a. !!! :scared-4:
Unfortunately, 3 months after they bought Beverly Mai, the Singapore Building Society Co-operative raised interest rates by 2% to 11.3% :scared-4: , which is still reasonable compared to those of banks, which amounted to 13.5% !!! :scared-4:
Unfortunately, for individual members of the Co-operative like Mr. Jeremy Lai, the actual interest rate in fact came to 14.5% !!!
http://i305.photobucket.com/albums/nn211/jlrx_bucket/InterestRate145Pct19741002.jpg
Now, Mr. & Mrs. Jeremy Lai were not super-wealthy people. Mr. Lai ran a small business with uncertain income averaging $2,000 per month, while Mrs. Lai was a school teacher earning $800 per month.
They had to depend on the rental to cover their mortgage. :scared-3:
To their dismay, the rental yield of $2,500 p.m. promised by the agent's ad was too good to be true. They managed to rent out for only $2,000 p.m. and had to top up $800 p.m, effectively wiping out Mrs. Lai's entire school teacher salary. :scared-3: But they managed to hang on ... :scared-3:
Life was tough. The Vietnam War was raging on. On Christmas Day 1978, Vietnam attacked Cambodia. Singapore's Armed Forces was on standby. The then Prime Minister, Mr. Lee Kuan Yew, warned Vietnam that if they crossed into Thailand, our A-4 Skyhawks would meet them at the Thai border. :scared-3: :scared-3: :scared-3:
The Straits Times, 1 Feb 2009
Lee Wei Ling (daughter of Lee Kuan Yew) wrote "My parents called a family meeting in their bedroom soon after Saigon fell. My father, Mr Lee Kuan Yew, then Singapore’s Prime Minister, told us: ‘Mama and I will stay here to the bitter end. Hsien Loong is already in the SAF and must do his duty. But the three of you need not feel obliged to stay."
At this point, the Beverly Mai tenant left. It's very hard to find tenants when the Prime Minister of Singapore was preparing his A-4 Skyhawks to fight to the bitter end. :scared-3: (Is that an understatement? :scared-5: )
To make matters worst, Mr. Jeremy Lai's business was badly hit. So the family depended on Mrs. Lai's $800 p.m. teacher's salary to service the mortgage at an interest rate of 14.5% p.a. :scared-3:
It would not be an understatement to say that you need nerves of steel to service a mortgage at 14.5% p.a. with the People's Army of Vietnam (not Property Liberation Army) on offensive mode. Yet I see posts in this forum trying to scare people about the SIBOR rate creeping up from its current rate of 0.678%. :doh:
It is during difficult times like this that a strong faith in Propertism is most vital. Propertism believes that property prices will always go up in the long term simply because fiat money will return to its eventual value of ZERO. Hence properties should only be bought. Not sold. Unless through en bloc, then quickly buy a replacement property.
Business Times – 27 Apr 2006
HPL bags Beverly Mai for $238m
HOTEL Properties Ltd (HPL) has clinched Beverly Mai on Tomlinson Road through a $238 million collective sale.
The owners of Beverly Mai’s 50 apartments will receive slightly over $4.4 million per apartment while the two penthouse owners will walk away with double that amount – about $8.81 million per unit. These sums represent collective sale premiums of 76 per cent to 146 per cent – depending on which benchmark is used – in terms of what the apartments would have fetched on an individual basis.
Note: The name of the Condominium and protagonists in this sermon have been changed to protect their true identity.
UBS Singapore Property 22 Jan 2010
..........
..........
Early signs of demand for luxury homes, prices could rise 40% in 2010
In Dec 09, developers reported early signs of demand for high-end homes. Capitaland sold 126 units in Urban Suites at $3M - $5M each while villas in Sentosa sold for $14M - $22M each. Property consultants now believe luxury home prices could reach 2007 peaks for selected projects. We maintain our forecasts for prime prices but expect luxury prices to rise 40% to S$4000psf by end-2010.
..........
We also believe luxury residential prices could surprise the market. Over the last 2 months, developers and property consultants also saw early demand for high-end residential projects. We now forecast luxury prices separately and expect luxury residential prices to rise by 40% while prime residential prices rise by 20%.
..........
..........
Rise 40%?
By end-2010?
Dunno wadda say!
Brothers and sisters, we have only 11 months left to end-2010.
new2mondrian
25-01-10, 18:51
You have to know a bit of the history of real estate market of singapore. We used to have a 10 years cycles. Then it was reduced to 7 years. Now it is 2 years. What will happen next of course we don't know. This cycle seen to be getting shorter.
My feel now is that I had just started to see a bit of light @ e end of the tunnel. Of course I hope things will turn out better in next few years.Of course there are other factors in my mind during that ''Winter'' duration. One wrong move and i'm heading to my grave, another unforgiving event will wipe out my assets.... ''PAIN=GAIN=RISK=PAIN''
Yup, I know that there r claims to an over-supply now, sucks rental market, USA not doing well. Stock dip these few days...China, Haiti, India...you can think of all e negatives and e lists goes on....
Maybe u can think so other factors...like, as usual Singapore is always one of e first to be out of every recession, we have a first class leaders(guess those from ST forum will start to bash me), strong financial position, strong banking support...think of these and e list goes on too.....
Whether now is the time to buy or sell I can't force you. After all it's your money and you signature on tat option.
Choose your decision carefully.
That all for now.
Cheers.
Agree that cycles are now getting shorter, and over the long term, Singapore having strong leadership and strong fundamentals will translate into stable property prices.
But having said that, I do know of tonnes of people who bought during previous property cycles and are still bleeding in negative equity, not taking into account all the interest/maintenance fees and opportunity cost of capital sum invested forgone. And I am not talking about 99-year leasehold properties such as the infamous Parc Oasis. History is abound with examples such as Royal Court (FH) in D21 which was sold by for $800psf by the developer for 2-bedders in 1998, which is still transacted at below $700psf. And when I was looking at Opera Estate landed housing last year, a few of the terrace houses which I considered at $1.3M to $1.5M were bought by their owners more than 20 years ago for $1M to $1.4M (just go to the caveats lodged in INLIS and you can see the original prices, or a FOC way is to consult nationproperty.sg). I generally agree that property do hold their intrinsic values over time, but it is a dangerous assumption that property is the only and most reliable form of investment, especially for a lot of middle-income earners who might not have the means to afford multiple investment properties.
To me, property is all about holding power. To own the property, one must have the means to pay for it, not based on future income streams (it is worrying to see some of my friends taking 90% loans to service their dream property and their existing bank/cpf balances is simply enough to pay the first 10%; and it is even more so to see people using rental from the 1st investment property to leverage against the 2nd property purchase). You are absolutely right about cycles being shorter. To me, the greater implication of cycles being shorter means that economic downturns, retrenchments and wage cuts being more frequent and contract work becomes more predominant. To the uber-rich, this is not an area of concern. But to the ordinary man-in-the-street who buys based on herd instinct and developer gimmicks, it can mean years of pain down the road.
On a personal level, I certainly hope that 2010 is a year of a property bull-run. :) Guess I won't be buying anything, but it is good to see my portfolio appreciating. Let's all hope for the best.
Agree that cycles are now getting shorter, and over the long term, Singapore having strong leadership and strong fundamentals will translate into stable property prices.
But having said that, I do know of tonnes of people who bought during previous property cycles and are still bleeding in negative equity, not taking into account all the interest/maintenance fees and opportunity cost of capital sum invested forgone. And I am not talking about 99-year leasehold properties such as the infamous Parc Oasis. History is abound with examples such as Royal Court (FH) in D21 which was sold by for $800psf by the developer for 2-bedders in 1998, which is still transacted at below $700psf. And when I was looking at Opera Estate landed housing last year, a few of the terrace houses which I considered at $1.3M to $1.5M were bought by their owners more than 20 years ago for $1M to $1.4M (just go to the caveats lodged in INLIS and you can see the original prices, or a FOC way is to consult nationproperty.sg). I generally agree that property do hold their intrinsic values over time, but it is a dangerous assumption that property is the only and most reliable form of investment, especially for a lot of middle-income earners who might not have the means to afford multiple investment properties.
To me, property is all about holding power. To own the property, one must have the means to pay for it, not based on future income streams (it is worrying to see some of my friends taking 90% loans to service their dream property and their existing bank/cpf balances is simply enough to pay the first 10%; and it is even more so to see people using rental from the 1st investment property to leverage against the 2nd property purchase). You are absolutely right about cycles being shorter. To me, the greater implication of cycles being shorter means that economic downturns, retrenchments and wage cuts being more frequent and contract work becomes more predominant. To the uber-rich, this is not an area of concern. But to the ordinary man-in-the-street who buys based on herd instinct and developer gimmicks, it can mean years of pain down the road.
On a personal level, I certainly hope that 2010 is a year of a property bull-run. :) Guess I won't be buying anything, but it is good to see my portfolio appreciating. Let's all hope for the best.
Hi new2mondrian,
Relevant issues raised in your post, I couldn't agree more.
Every asset class (be it property, stocks, commodities, etc...) has a part to play in a balanced portfolio, very akin to having a toolbox full of different equipment for varying tasks.
As in every investment, it's usually about holding power and entry price....
Regards.
Btw I was just told a studio had been sold @ 1438psf. :banana:
Southbank's resale nëw hïgh $1,438 psf is surely nicer than last high $1,351.
38, sum fatt! Fatt ah!
At least a prosperous (fatt) start for District 7.
At least a prosperous (fatt) start for District 7.
Perhaps it is no biggie for Southbank afterall.
If Northwood in District 25 Sembawang can do $710 psf, surely Southbank in District 7 can do $1,438 psf or better right?
72 Jalan Mata Ayer #03-26 Freehold $710 1313 $933k 22 Dec 09
66 Jalan Mata Ayer #04-17 Freehold $685 1313 $900k 18 Dec 09
68 Jalan Mata Ayer #05-18 Freehold $577 1948 $1125k 17 Dec 09
70 Jalan Mata Ayer #04-22 Freehold $674 1313 $885k 02 Dec 09
Not sure S$710psf is a new high in this area?
http://sg.yimg.com/i/sg/providers/cnalogo4.gif
85% of units in CDL's Cube 8 sold
Ephraim Seow
Channel NewsAsia
Monday, 25 January 2010, 2125 hrs
http://www.channelnewsasia.com/imagegallery/store/phpAhymMp.jpg
City Developments (CDL) said it has sold 85% of the units in its Cube 8 development, located at the former Albany and Thomson Mansion site along Thomson Road. Private previews for the former sites' owners, directors and staff of CDL started last Thursday and the public preview began on Friday. Over the weekend, all the 1- and 2-bedroom apartments have been sold.
Singaporeans made up the majority of buyers. Permanent residents and foreigners mainly from the region, India and Europe bought 25% of the units.
The 36-storey freehold development comprises 177 units of 1- to 2-bedroom apartments and sky villas, ranging from 560 sqft to 3,229 sqft in size. The launch was at an average price of S$1,250 psf, with a marginal increase of 2% to 3% for subsequent release.
And when I was looking at Opera Estate landed housing last year, a few of the terrace houses which I considered at $1.3M to $1.5M were bought by their owners more than 20 years ago for $1M to $1.4M (just go to the caveats lodged in INLIS and you can see the original prices, or a FOC way is to consult nationproperty.sg).
Hmmm ... this is strange.
If you refer to the Straits Times Classifieds on 11 Sep 1989, which was 21 years ago, a renovated terrace house at Opera Estate was asking for only $300k (negotiable) (circled in red).
http://i305.photobucket.com/albums/nn211/jlrx_bucket/OperaEstate19890911.jpg
For $1.36M, you could get a bungalow in district 10 Holland Heights !!! :scared-4: (circled in blue).
Just below this blue circle, a 3,500 sq ft semi-D off Holland Road would set you back by only $718k !!! :scared-4:
Looking at all these old classifieds really makes me more and more depressed. :(
Just look further down, you could actually get a 26,000 sq ft Good Class Bungalow at Brizay Park, off Bukit Timah, for only $3.0M. :(
Whereas today ...
Listed 16 January 2010
Brizay Park Bungalow
This Property is Already Cobroked
Code: 4073399
Date: 16-01-10
Price (S$): 18,500,000
S$ Per Sq. Feet: 1,850
Name: BRIZAY PARK
Road: BRIZAY PARK
District: 10
Bedrooms: 8
Built-in (sq. feet): 10,000
Land (sq. feet): 17,600 Only !!! :scared-4: That's smaller than the 26,000 sq ft bungalow listed in the 1989 classifieds above !!!
Type: BUNGALOW
Tenure: FREEHOLD
Remarks:
$18.5M LISTED ON 16/01/2010. POOL
http://www.villa.sg/index_files/image609.jpg
We will never see this kind of increases now, as Singaporeans are getting poorer and poorer, maybe in GCB sector but not for the rest, I remember the 90s as the golden age of Singapore where COEs were $100K.
The trends now for Singaporeans is usually 1 to 2 bedroom units or sub 1,000 sqft 3 bedders, sigh.
http://bhtest.asia1.com.sg/mnt/static/image/images/topMasthead_small.gif
Signs of a mild property fever as private home sales gather pace
Developers have sold over 900 units this month as bullish sentiment returns
Kalpana Rashiwala
The Business Times
Tuesday, 26 January 2010
Developers have sold more than 900 private homes so far this month - based on BT's poll of developers and property agents - and with another week to go, the tally is easily expected to cross 1,000 units by month's end.
http://www.businesstimes.com.sg/mnt/media/image/launched/2010-01-26/BT_IMAGES_KRSALES26.jpg
Cube8: CDL has sold about 150 of the total 177 units in the Thomson Road project since it began previewing it last week
Besides Allgreen Properties' Holland Residences, which will be previewed this week, Wing Tai is said to be at an advanced stage of preparation for an imminent preview for L'Viv at Newton Road. The average price is touted at about $1,900 psf - $2,000 psf - significantly higher than the $1,700 psf average price at which Ho Bee is selling its Trilight condo nearby.
Wing Tai is eyeing a higher psf price by offering smallish units (thus keeping the absolute lump sum price per unit 'affordable' to potential buyers). The developer is said to be packaging its project with Deferred Payment Scheme as it had clinched approval for it before the scheme was scrapped in 2007.
L'Viv comprises a total of 147 units - 72 units have 1 bedroom and a study and these come in 2 sizes, both 600-sq ft plus; another 72 units have 2 bedrooms and a study (all about 1,000 sqft); and there are 3 penthouses (all 3-bedders).
Trilight does not have any 1-bedders. It has 2-, 3- and 4-bedders as well as penthouses. 2-bedders range from 1,100 to 1,200 sqft.
http://business-times.asia1.com.sg/mnt/static/image/ax/quoteTop.gif
'Frankly, it's very hard to deter people from buying, if you look at how strong the HDB resale market is. There's very strong bottom-up support.'
- Knight Frank chairman Tan Tiong Cheng,
. when asked if the authorities are likely to come up with
. fresh measures to cool the market if another round of
. buying frenzy builds up
http://business-times.asia1.com.sg/mnt/static/image/ax/quoteBot.gif
Fortune Development is also slated to begin previewing this week RV Edge in the River Valley/Shanghai Road vicinity. The 108-unit freehold project, being marketed by Huttons, comprises mostly smallish apartments ranging from 1-bedders to 2-bedroom with study units. The smallest unit is about 400 sqft. Prices are expected to start from $600,000-plus per apartment.
City Developments Ltd (CDL) said yesterday evening that it has sold about 85% or about 150 of the the total 177 units at its Cube 8 condo at Thomson Road, which it began previewing last week.
Singaporeans bought 75% of the units sold. The other 25% were picked up by permanent residents (PRs) and other foreigners - mainly from Malaysia, Indonesia, Hong Kong, Korea, India, China and Europe.
The District 11 freehold project was initially priced at $1,250 psf on average but prices were upped 2-3% for subsequent releases.
CDL group general manager Chia Ngiang Hong said in a statement that the buyers were an 'equal mix of owner-occupiers and investors' and that this pointed to the development's appeal to both home owners and investors.
Some market watchers suggest, however, that the project has probably also drawn a fair number of specuvestors. Slightly over half of the total 177 units comprised one and two bedders and these were the first to go, mirroring the pattern for other projects that were launched in Districts 9, 10 and 11 last year.
In addition to the buying buzz created this month from the release of new projects, some developers have been pleasantly surprised with a steady stream of activity even for existing projects that have been on the market for at least a few months. For instance, Ho Bee Investment has sold about 60 units at its Parvis condo at Holland Hill and 10 units at Trilight since the start of the year.
CDL is also understood to have sold more than 50 units at its Livia condo in Pasir Ris this month and the 724-unit project is now left with about 10 units.
'Sentiment has picked in the mid and high-end markets because of the improvement in the economy; the imminent opening of the two integrated resorts (IRs) may also have given a psychological boost to foreign buying interest, which seems to be returning,' says Ho Bee executive director Ong Chong Hua.
Agreeing, a fellow developer said: 'We're seeing a bigger variety of buyers from the region this round - including markets like Myanmar and Laos.'
UOL Group has sold this month 25 units at Double Bay Residences in Simei and 18 units at Meadows @ Peirce along Upper Thomson Road. The group plans to launch two projects in the first half of this year - a 99-year-leasehold condo with about 600-plus units at Dakota Crescent and a project with some 170 units on the Rainbow Gardens site in the Toh Tuck area. The latter will be a joint development with LaSalle Asia Opportunity II fund.
Developers' home sales slipped below the 1,000-unit per month mark in Q4 last year as they wound down their launch activities towards year-end. Some potential buyers had also grown cautious following the government's measures in September to cool the property fever.
However, fear of missing the boat appears to be re-igniting with strong signs of another round of price hikes this year.
'For the economy, the worst is over and much of the physical infrastructure investment like the IRs is close to completion,' says Knight Frank chairman Tan Tiong Cheng.
Asked if the authorities are likely to come up with fresh measures to cool the market if another wave of buying frenzy builds up, Mr Tan said: 'Frankly, it's very hard to deter people from buying, if you look at how strong the HDB resale market is. There's very strong bottom-up support.'
http://www.lmco-ny.com/news/cap-images/bloomberg_logo.gif
Singapore’s production climbs at fastest pace in 5 months
Bloomberg
Singapore
Tuesday, 26 January 2010, 1.03 pm CCT
Singapore’s industrial production rebounded in December and rose at the fastest pace in 5 months as higher demand for electronics and chemicals offset a drop in pharmaceuticals output.
Manufacturing, which accounts for about a quarter of Singapore’s economy, gained 14.4% in December from a year earlier following a revised 9.5% decline in November, the Economic Development Board said today. The median forecast of eight economists surveyed by Bloomberg News was for a 7.4% gain.
Singapore’s electronics shipments ended an almost 3-year slump last month, even as the government said Jan. 11 that overseas demand may grow at a “sluggish pace.” The island’s dependence on electronics and pharmaceutical exports has made it vulnerable to fluctuations in global demand and business cycles, pushing it into a deeper slowdown than many neighbors last year.
“Production seems to be picking up with the improvement in exports and that would be in line with the patterns around the region,” David Cohen, director of Asian forecasting at Action Economics in Singapore, said before the report. “These numbers are always tricky with the volatile pharmaceuticals component.”
Singapore’s industrial production rose a seasonally adjusted 18.1% in December from the previous month, when it slid a revised 4.6%.
Manufacturing climbed 2.2% in the fourth quarter, more than the 1% gain estimated by the government on Jan. 4, today’s report showed. Production fell 4.1% in 2009, matching the decline in 2008.
Electronics Output
Electronics production climbed 57.3% last month from a year earlier, following a revised 13.9% gain in November. Electronics make up about 26% of total manufacturing output.
Pharmaceutical production, which accounts for about 20% of manufacturing, slipped 16.3% after declining a revised 52.6% in the previous month. Excluding biomedical manufacturing, production gained 23.9% in December.
Production may rise in the coming months as more companies open plants in Singapore. Royal Dutch Shell Plc opened a monoethylene glycol plant in Singapore last quarter, while Renewable Energy Corp., a Norwegian maker of solar-power components, is scheduled to start production in Singapore this year.
Property_Owner
26-01-10, 15:27
Hmmm ... this is strange.
If you refer to the Straits Times Classifieds on 11 Sep 1989, which was 21 years ago, a renovated terrace house at Opera Estate was asking for only $300k (negotiable) (circled in red).
If my memory never fails me....Opera where got so high 20 years back....
Property_Owner
26-01-10, 15:30
If my memory never fails me....Opera where got so high 20 years back....
I mean where got 1 to 1.2 m
We will never see this kind of increases now, as Singaporeans are getting poorer and poorer, maybe in GCB sector but not for the rest, I remember the 90s as the golden age of Singapore where COEs were $100K.
The trends now for Singaporeans is usually 1 to 2 bedroom units or sub 1,000 sqft 3 bedders, sigh.
Do you realise that what you have just wrote is testimony to our Great Religion - Propertism - the belief that property prices will always go up in the long term simply because paper money will eventually lose all its value? :cheers1:
It's not that Singaporeans are "getting poorer and poorer", it's just that properties are "getting dearer and dearer".
The trend now is for smaller and smaller units simply because property prices are becoming higher and higher.
If you check the income statistics over the past 40 years, you will see that the people are not "getting poorer and poorer" when measured against paper money.
People are becoming "poorer and poorer" only when measured against properties.
So the moral of the story ...
GRAB WHILE YOU CAN !!! :cheers1:
Let me show you a graphic illustration of what $500,000 can buy you at different stages in Singapore's history.
1930's - This Building at Raffles Place
http://www.oldstratforduponavon.com/sitebuilder/images/singaporeraffles-466x303.jpg
1970's - Queen Astrid Park Bungalow (30,000 sq ft)
http://3.bp.blogspot.com/_YlvEjlIelzk/RtZZxYLNQcI/AAAAAAAAB1A/zfh6yulYlEA/s400/Glencaird+-+A+Restored+105yr+old+Victorian+Bungalow.jpg
http://i305.photobucket.com/albums/nn211/jlrx_bucket/QueenAstridParkBungalow19771114.jpg
1980's - Geylang Road Terrace (3,000 sq ft)!!!
http://i1.propertyguru.com.sg/images/thumb/b/e/9/f/be9f29993177_1_V160B.jpg
http://i305.photobucket.com/albums/nn211/jlrx_bucket/GeylangTerraceHouse19830830.jpg
1990's - 2 Bdrm Serangoon Ave 3 Condo Springbloom (893 sq ft).
http://i2.propertyguru.com.sg/images/thumb/a/f/b/1/afb12482_1_V160B.jpg
Note: Only ONE unit (not the whole building).
2000's - HDB 5-Room Flat near Chinatown
http://greenmark.sg/uploads/buildings/images/30/Kim%20Tian%20Gree_img.jpg
2010's - HDB 2-Room Flat Near Chinatown (forecasted)
13 Jan 2010
Two-room flat costs more than a four-room
http://www.asiaone.com/A1MEDIA/business/01Jan10/others/20100112.173808_2room.jpg
[Photo: Mr Adrian Wee (28, left) of OrangeTee was the agent who handled the transaction for the former home owner, Mr Tan (43, right).]
http://www.asiaone.com/a1media/business/01Jan10/others/20100112.173900_2room1.jpg
A two-room flat in Chinatown was sold for $245,000 recently, creating a new record for the re-sale price of HDB two-room flats.
Located at Jalan Kukoh, the flat is on a higher floor of block 10, and is about 40 years old.
Propertism Exam Question
If you have $500,000 today and are given the following choices, what would you do?
A. Take a time machine back to 1930's and purchase that plot of land that this building is now sitting on at Raffles Place
http://www.bca.gov.sg/Awards/ConstructionExcellence/images/cea9903.jpg
B. Keep worrying about the "Next Asia Crisis" and wait till this record-breaking HDB 2-Room Flat near Chinatown reaches $500,000
http://www.asiaone.com/a1media/business/01Jan10/others/20100112.173900_2room1.jpg
new2mondrian
26-01-10, 17:47
I mean where got 1 to 1.2 m
my apologies. i was checking so many places last year that i made a mistake in my post yesterday. Opera Estate transacted at around $1M and above from 1993 onwards, and thereafter prices stagnated for a long while.
for example, based on inlis search of 2 terang bulan (lot 1956), it was transacted at $1.4m on 25 aug 1994. 15 years later in aug 2009, it was transacted at $1.38m. And this is not an isolated case in opera estate. I have attached a norma terrace transaction below. What I was trying to say in my yesterday's post is that property is not aways the best and most reliable means of investment, and a wrong move might mean years of pain down the road, hope this clarifies.
http://www3.nationproperty.com.sg/npp2/nppSearch/RESDSubSaleHistory.aspx?r=321238
Property_Owner
26-01-10, 18:07
my apologies. i was checking so many places last year that i made a mistake in my post yesterday. Opera Estate transacted at around $1M and above from 1993 onwards, and thereafter prices stagnated for a long while.
for example, based on inlis search of 2 terang bulan (lot 1956), it was transacted at $1.4m on 25 aug 1994. 15 years later in aug 2009, it was transacted at $1.38m. And this is not an isolated case in opera estate. I have attached a norma terrace transaction below. What I was trying to say in my yesterday's post is that property is not aways the best and most reliable means of investment, and a wrong move might mean years of pain down the road, hope this clarifies.
http://www3.nationproperty.com.sg/npp2/nppSearch/RESDSubSaleHistory.aspx?r=321238
Opera Estate always reminds me this place is damn hot, dun know why. Also clamp feeling to me. :doh:
new2mondrian
26-01-10, 18:20
Opera Estate always reminds me this place is damn hot, dun know why. Also clamp feeling to me. :doh:
u are right. property is all about location location and location. pay the wrong price for the wrong location, want to sell for a decent gain might take years or never.
how's sentosa cove? what's your take on that place?
Property_Owner
26-01-10, 18:35
how's sentosa cove? what's your take on that place?
Amenities have to be completed before you feel there's life in Sentosa. Right now only seaview...can't have seaview for breakfast/lunch/dinner....
Difference investment, Sail you can find a unit about 1m plus...Same for MBR...Sentosa entry level at least 2m plus....
What I was trying to say in my yesterday's post is that property is not aways the best and most reliable means of investment, and a wrong move might mean years of pain down the road, hope this clarifies.
That's precisely why we need the Propertism religion - to counter the pain.
If property prices go up continuously all the time, then there is no pain and hence there is no need for Propertism - the faith that property prices will always go up in the long term.
If there is no pain, then what is there to separate Property_Owner, who owns 40+ properties, from the regular Joe?
Sometimes i wish life is just simple as a regular Joe. Can u imagine how it feels after Lehman's. After prices heads south. during e worse days, agents calling me everyday giving me 1300psf for my Reflection, 1500psf for my MBR, 1700psf for Ardmore 2. Asking me how's my business. Trying to test if I'm bleeding. Telling nightmares are coming, winter is here. Sell or you see blood...... One wrong move and i'm heading to my grave, another unforgiving event will wipe out my assets...''PAIN=GAIN=RISK=PAIN''
In my post above, I am sure everyone would have chosen A. But A is the one that's going to cause much pain. Starting with this ...
http://wpcontent.answers.com/wikipedia/commons/thumb/1/15/JapaneseMarchSgpCity.jpg/360px-JapaneseMarchSgpCity.jpg
Regulators
26-01-10, 23:26
if pty prices keep going up to the sky n people's salaries remains fixed, PAP will get voted out in no time.
if pty prices keep going up to the sky n people's salaries remains fixed, PAP will get voted out in no time.
Questions.
Which type of property prices? Which "people"?
Private or public? The 20% or the 80%?
Is the average salary not moving up?
if pty prices keep going up to the sky n people's salaries remains fixed, PAP will get voted out in no time.
The following Saints of Propertism have the answer for you.
“It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before morning.”
- Henry Ford
“The problem with fiat money is that it rewards the minority that can handle money, but fools the generation that has worked and saved money”
- Adam Smith
“In the absence of the gold standard, there is no way to protect savings from confiscation through inflation.”
- Alan Greenspan, Gold and Economic Freedom (1968)
“If the governments devalue the currency in order to betray all creditors, you politely call this procedure “inflation.”
- George Bernard Shaw
“The modern banking process manufactures currency out of nothing.”.
- Lord Josiah Stemp, Former Director of the Bank of England (1937)
“At the end fiat money returns to its inner value—zero.”
- Voltaire
Isn't it amazing how these Saints of Propertism, born in different countries and centuries apart, and who had not even visited Singapore before, were able to predict the relentless rise in property prices here in Singapore despite:
1. World War II 1945
2. Konfrontasi War with Indonesia 1963
3. Racial Riots 1964
4. Oil Crisis 1973
5. Vietnam War 1975
6. First Singapore Recession 1985
7. Gulf War 1991
8. Asian Financial Crisis 1997
9. Dot Com Burst 2000
10. September 11, 2001
11. SARS 2003
12. Lehman Brothers 2008
How would these Saints know that the following bungalow asking $500,000 in 1977 ...
http://i305.photobucket.com/albums/nn211/jlrx_bucket/QueenAstridParkBungalow19771114.jpg
Would today be asking $26.8 Million?
For Sale -Queen Astrid Bungalow (D10)
S$ 26,800,000 Negotiable
Development Name: Queen Astrid Bungalow
Property Type: Good Class Bungalow
Tenure: Freehold
# of Floors: 2
Land area: 25,500 sqft (2,369 sqm)
http://i2.propertyguru.com.sg/images/thumb/d/c/1/1/dc11d71070949_1_V550.jpg
http://sg.yimg.com/i/sg/providers/cnalogo4.gif
HDB to construct its one millionth flat, capping 50 yrs of achievements
S. Ramesh
Channel NewsAsia
Tuesday, 26 January 2010, 2048 hrs
..........
..........
He added: "Finding a roof over our heads is no longer the pressing requirement. The HDB flat is not just a shelter but also a key investment asset. People have many considerations in choosing their flats - they want the right flat, in the right locality, at the right time and at the right price.
"Such high expectations are understandable since buying a flat is a major commitment for a young couple setting up a home together."
And HDB is committed to providing high quality housing, even though it cannot accommodate every preference or expectation.
The prime minister also emphasised a point expressed several times by other ministers and very much an ongoing concern amongst flat buyers in the rising property market. And that is the government's commitment to keeping HDB flat prices affordable for Singaporeans.
But Mr Lee said the government has less control over prices in the resale market.
He explained: "These resale prices are set by individual households who transact flats on a willing-buyer, willing-seller basis, and are affected by movements and sentiments in the wider economy, including in the private property market.
"Hence, resale prices of HDB flats will fluctuate from year-to-year. But over the long term, the value of HDB flats depends on the strength of the Singapore economy."
So provided Singapore continues to do well, Mr Lee is confident the flats will maintain their value and Singaporeans can enjoy an appreciating asset.
Seems like managing HDB flats is a big challenge.
It is a key investment asset for 80% of the population. The manager has to ensure that it is an appreciating asset for them. Otherwise, the manager will be booted out.
Perhaps it is no biggie for Southbank afterall.
If Northwood in District 25 Sembawang can do $710 psf, surely Southbank in District 7 can do $1,438 psf or better right?
Oh! And District-9 Watermark Robertson Quay's resale has a nëw hïgh.
I am not sure if that $1,400-psf seller is a happy man.
But I do know this latest seller who has recorded a nëw hïgh of $1,404 psf is a happy man. He should be as his unit is 5 levels lower than the former's.
Watermark Robertson Quay
Address ....................... psf .............. Area ........ Price ............. Contract Date
1 Rodyk Street #04-09 .... $1,404 psf o.. 926 sqft .... $1,300,000 ..... 30 Dec 09
Questions.
Which type of property prices? Which "people"?
Private or public? The 20% or the 80%?
Is the average salary not moving up?
Good questions !!!
The pay of fresh graduates have been around $2,000 per month for the past 20 years.
http://i305.photobucket.com/albums/nn211/jlrx_bucket/FreshGraduatePay19890407.jpg
However, the pay of top earners (used in the Ministerial salary benchmarks) have defintely gone up.
Between 1989 and 2008, the average annual salary of a top banker has increased from $1.7 million to $6 million (3.5 times); a top MNC CEO from $765,000 to $5.38 million (7 times); a top lawyer from $1 to $5 million (5 times); a top accountant from $870,000 to $3.6 million (4 times); a top Local CEO from $597,000 to $3.54 million (6 times); a top engineer from $338,000 to $930,000 (3 times).
http://i305.photobucket.com/albums/nn211/jlrx_bucket/TopEarners19890324.jpg
http://i305.photobucket.com/albums/nn211/jlrx_bucket/TopEarners20081124.jpg
So you can see the trend that the salaries at the bottom, which was already very low, have stagnated over the past 20 years.
Whereas the salaries at the top, which was already very high, have gone up around 5 times over the same period.
Now, when working out the supply and demand of properties, one of the most mistaken assumptions is that one person is entitled to buy only one property. That is not true. There is no law that says one person is entitled to buy only one property. It is possible that one person can be holding 40+ properties :D .
Using the above tables for illustration, the CEO of a local toothpaste manufacturer :D , for example, who used to earn only $597,000 p.a. back in 1989, could now be earning $3.54 million p.a. :D
China’s billionaires rise to 130 despite global crisisi want to go china sell toothpaste. if my brand is a hit, i be joining them on e list soon
With an income of $3.54 million p.a., he can buy three The Sails per year. So in another 10 years, he can buy another 30 Sails. That is on top of his current 40+ properties.
If this CEO succeeds in expanding to China and joins the ranks of the billionaires, then he can buy 1000's of properties.
After all, what is the use of money other than to buy properties? I really cannot think of any significant thing to buy, other than properties.
Please don't tell me to place the money in the bank and wait for it to diminish to ZERO, or invest in those bonds and whatever rubbish financial instruments. I want something I can touch and feel. And there is nothing more real and touchable than "Real Estate". :p
hear hear! the oracle has spoken! :D I also cannot think of anything else to buy other than properties, except perhaps a lambo. but the brain says no, you can put downpayment on 3 properties with that money!
if pty prices keep going up to the sky n people's salaries remains fixed, PAP will get voted out in no time.
According to stats from gov, average/median salary of employed household has at least gone up by 45% since year 2000. And 35% of household has income more than 7k per month in year 2008. About 23% of household has combined income more than 10k per month in year 2008.
This does not mean entry level salary has gone up so much, it just reflects the reality that we have more dual-income family. And the top earners are making more money than ever.
http://www.singstat.gov.sg/pubn/papers/people/op-s15.pdf
According to stats from gov, average/median salary of employed household has at least gone up by 45% since year 2000. And 35% of household has income more than 7k per month in year 2008. About 23% of household has combined income more than 10k per month in year 2008.
This does not mean entry level salary has gone up so much, it just reflects the reality that we have more dual-income family. And the top earners are making more money than ever.
http://www.singstat.gov.sg/pubn/papers/people/op-s15.pdf
Makes sense to me.
http://www.businesstimes.com.sg/mnt/html/bto5/images/topMasthead_small.gif
Wägës rïsë, debts slow and Singaporeans get rïchër
Households have weathered crisis relatively well: MAS
Siow LiSen
The Business Times
Tuesday, 10 November 2009
Singaporeans are getting richer as household dëbt has risen slöwer thän wägë gröwth, financial crisis notwithstanding. Add high property prices and the rëlüctäncë to spënd freely and you havehöüsëhöld ässëts standing at mörë thän 6 tïmës the household dëbts.
'Households have on the whole weathered the crisis relatively well, thanks to strong balance sheets,' according to the Monetary Authority of Singapore's (MAS) Financial Stability Review 2009 released yesterday.
'The asset quality of household loans has not deteriorated significantly and so should not affect the stability of the banking system,' it said.
Household net wealth stood at an äll-tïmë hïgh, an estimated $1,001 billion in Q3 2009, after hitting a trough at $895 billion in Q1 2009. This is also more than double that of $400 billion plus in 1999.
Aggregate household net wealth is at about 4 times of gross domestic product, up from about 3.6 times in Q1 2009.
Still, the MAS said the healthy position is not uniform across all homes.
'Those who were retrenched or highly leveraged would likely have come under more pressure,' it said.
As Singaporeans maintain dïscïplïnë in taking on consumer debt, assets remain more than 6 times the household liabilities.
Cäsh and CPF balances alone have ëxcëëdëd total household lïäbïlïtïës since 2006.
After declining in Q4 2007 and Q1 2009, household holdings of equity and managed funds are estimated to have recovered by about 40% to $150 billion in Q3 2009, in tandem with the rising global equity markets.
Similarly, property holdings have turned around, up by an estimated 9% to $537 billion in Q3 2009 from the low of $491 billion in Q2 2009.
Total liabilities increased moderately by 4.4% year-on-year in Q3 2009, which is much lower than the long-term average growth rate of about 13%. Most of the increase came from housing loans, which account for the bulk of household borrowing. After moderating from around 15% in Q4 2007 to 8.8% in Q4 2008, housing loan growth has seen a recent uptick to 12% in Q3 2009 due to increased activity in the property market.
Other types of household dëbt such as credit cards, car loans and share financing grew at a slüggïsh päcë.
Share financing loan growth recovered from negative territory in Q2 2009 to 18% in Q3 2009, along with the rebound in the stock markets.
Share financing represents less than 1% of total household debt currently.
Credit card löän growth slöwed from 19.5% in Q3 2008 to 11.4% in Q3 2009 while car löäns shränk by 2.2% in Q3 2009 as a result of falling car sales.
Credit card loans comprise a relatively small share of total household debt at about 3% as of Q3 2009.
Household remuneration growth has outpaced the rate of increase in household debt in the last few years and the household debt to remuneration ratio has been falling.
'However, the ratio may rise this year, as the downturn would likely constrain wage growth. As of June 2009, average wages had contracted 2.1% year-on-year, compared to a 3.8% rise in household liabilities over the same period,' the MAS said.
Looking ahead, households may be tempted to take on more leverage in the short term, given strong market sentiment in the domestic equity and property markets and expectations that low interest rates could persist for some time, it said.
'This might expose households to increased risks in light of the still uncertain paths of economic recovery and interest rates. The current healthy balance sheet position suggests that households in general would be well placed to weather these downside risks.'
http://www.businesstimes.com.sg/mnt/media/image/launched/2009-11-10/BT_IMAGES_LSMAS10.jpg
http://bhtest.asia1.com.sg/mnt/static/image/images/topMasthead_small.gif
Softer interest rates hurt DBS more
Siow LiSen
The Business Times
Wednesday, 27 January 2010
Contrary to expectations, interest rates in Singapore have weakened, albeit marginally, from mid-December levels. But while the fall is small, it is not good news for banking giant DBS Group Holdings.
The key 3-month Sibor or Singapore interbank offered rate has eased from 0.68542% to 0.68328% on Dec 14 and has slid a tiny bit more to 0.67808% since Jan 14.
It's a bit of a head scratcher because all the expectations had been for a tightening, all the more so because of China's move to rein in its monetary policy earlier than speculated.
Since the 3rd quarter last year, many have forecast that interest rates would rise gradually this year as governments try to implement exit packages because of worries over deficits and inflationary pressures.
Consumer prices rose an average 0.2% last year after gaining 6.5% in 2008.
The Monetary Authority of Singapore (MAS) has forecast that inflation will average 2.5 to 3.5% this year.
Sibor may have slipped because of larger inflows from expectations that the MAS will let the local dollar rise in its next policy monetary review in April.
Of course, the interest rate direction could turn any day now and the movements in Sibor have been too slight to be significant for most people. But for DBS, which has huge amounts of deposits and is faced with projected sluggish loans growth, a flat or even small fall in interest rates could be a headache.
Growth for the loans sector was a weak 1.8% in November 2009, as shown by latest available data.
Writing yesterday, Leng Seng Choon of DMG & Partners said that he expects DBS to post a stronger FY09 net profit, but due largely to the robust trading income of the first nine months in 2009, a volatile segment. DBS reports FY09 results on Feb 5.
Mr Leng is projecting FY09 net profit of $2.14 billion, up 11% from FY08. While FY09's other non-interest income is expected to be robust (with 9M09 recording $667 million, up 84% year-on-year, due mainly to a strong showing in the volatile trading income), this could be largely negated by provisions surging 58%, a consequence of the global economic downturn.
'We forecast weak FY10 core earnings growth, on the back of continued Sibor weakness and soft loan expansion,' he said. He noted that the 3-month Sibor averaged 0.68% in 4Q09, similar to that in 3Q09. This was half the 1.33% for 2008.
DBS, with a low S$ loan-deposit ratio of 56.9% (versus 71.2% for the overall group), will enjoy lower interbank yields, which could keep its Singapore net interest margin narrow, he said.
Even with a higher spread from the Hong Kong interbank rate, which is a positive for its DBS Hong Kong unit, this will be somewhat offset by increased loan competition there.
Mr Leng forecasts narrower net interest margin for DBS compared with its peers.
Fundamentally, this should be a good year for DBS as long as the economy continues on its recovery. But DBS's strength and Achilles heel have always been the same - the fact that it is government-linked, and so depositors feel safe and leave their money there. The bank has tried to counter this by paying almost nothing for deposits.
Still, at the end of September 2009, DBS's deposits still grew 1% from the previous quarter to $180.2 billion. That was 65% more than the $116.5 billion held at United Overseas Bank and way above OCBC's $96.9 billion.
If interest rates remain soft, DBS will face a much tougher climb with its mountain of deposits. A silver lining here could be that it won't be so bad for borrowers.
hear hear! the oracle has spoken! :D I also cannot think of anything else to buy other than properties, except perhaps a lambo. but the brain says no, you can put downpayment on 3 properties with that money!
Actually for cars, there's a sort of vacuum once you go above $300K.
Like Reporter said, he couldn't understand the logic of paying more than double for an AMG.
So why pay more than double the money for a 612hp car when all the owner needs is a 216hp S260 (not even 231hp S300)?
I hope the day will come for me to understand the logic. ... but then ... I think this day is unlikely to come. Meanwhile, I will just continue to stress my 6 pistons to play catch up.
As for the likes of Rolls Royce and Bentley, they're too big (read: unaffordable :p ) and only suitable for tycoons ... e.g. Property_Owner. :p
So conclusion: Properties are still the best things to buy. :cheers1:
new2mondrian
27-01-10, 18:47
now that stocks are heading south, maybe equities are looking attractive all over again, especially since i off-loaded most of my stuffs few weeks back....
maybe when OCBC hits $5.50, DBS hits $9, I will start accumulating again. and maybe SPH as well.... yield is not too bad... :cool:
anyone into stocks here too? focus?
now that stocks are heading south, maybe equities are looking attractive all over again, especially since i off-loaded most of my stuffs few weeks back....
maybe when OCBC hits $5.50, DBS hits $9, I will start accumulating again. and maybe SPH as well.... yield is not too bad... :cool:
anyone into stocks here too? focus?
At those prices? Yeah, sure, why not? I'm in :cheers6:
Might want to start a thread for stocks though. Don't want to hijack this thread for Property Market Sentiments...
now that stocks are heading south, maybe equities are looking attractive all over again, especially since i off-loaded most of my stuffs few weeks back....
maybe when OCBC hits $5.50, DBS hits $9, I will start accumulating again. and maybe SPH as well.... yield is not too bad... :cool:
anyone into stocks here too? focus?
At those prices? Yeah, sure, why not? I'm in :cheers6:
Might want to start a thread for stocks though. Don't want to hijack this thread for Property Market Sentiments...
Thanks for your understanding.
Good News!!! Good News!!!
A 2,200 sq ft terrace house right here in Singapore can now be bought for only $500k!!! :scared-4:
That's reported in The New Paper 27 January 2010.
Yes!!! It's 2010, not 1990.
You don't need a time machine to go back 20 years. You can buy it right now!!!
What's more, the price of this terrace house is guaranteed to decrease with time!!!
It was worth $600k when bought six years ago; today it's worth only $500k. :scared-4:
What's going on? Has our Great Religion - Propertism - that says property prices will always go up in the long term, been proven wrong? :scared-3:
http://i305.photobucket.com/albums/nn211/jlrx_bucket/500kTerraceHouse20100127.jpg
They sit on a large plot of freehold land which belonged to Mr Koh Sek Lim, a property owner in the east who has since died.
Mr Koh sold a 70-year lease for the land in the 1960s to several developers who built and marketed the houses there.
Only 26 years remain on the lease of the land.
WOW ... :scared-4:
This Koh Sek Lim is really a man with great foresight !!! :scared-4:
He's even more powerful than our Godfather of Propertism, FEO, who only recently woke up to the fact that land should only be bought. Not sold. :tsk-tsk:
No wonder there is a road named Koh Sek Lim Road, but no road named after the boss of FEO.
This guy's really got great foresight. :spliff:
By the way, anyone here interested in buying? :confused:
Bad News!!! Bad News!!! :scared-3:
Property prices could possibly crash after the next general election!!! :scared-3:
The Straits Times - 27 Jan 2010
http://www.straitstimes.com/STI/STIMEDIA/image/20100127/mmlee-lau-fk.jpg
Mr Lee's blunt remarks were in response to a question by dialogue moderator Tommy Koh, who pulled out a Straits Times report which said at least three :scared-4: :scared-4: :scared-4: opposition parties are keen to contest Tampines GRC that Mr Mah helms. -- ST PHOTO: LAU FOOK KONG
THE current contentious issue on the affordability of public housing was given another airing by Minister Mentor Lee Kuan Yew who cautioned Singaporeans not to cast a protest vote against the ruling party over this.
As Singaporeans lament about rising flat prices, he said they ought to understand the Government sells them at a subsidised price, below market rate, so that they can own an asset that will appreciate in value over the years. It adds to their wealth and this is asset-enhancing policy Mr Lee believes citizens should not find fault with.
If they do, they must be 'daft', he said at a dialogue during a housing conference as part of a series of events to mark the Housing Board's (HDB) 50th anniversary.
"And if National Development Minister Mah Bow Tan is unable to defend this policy, 'he deserves to lose' at the next General Election, he quipped to laughter from the participants, including a chuckling Mr Mah.
But if Mr Mah loses to the opposition, he warned that Singaporeans better sell their flats fast as it would no longer be of any value. :scared-3: :scared-3: :scared-3:
WOW ... looks like our Great Religiion - Propertism - which believes that property prices will always rise in the long term, is under threat tonight!!! :scared-4:
First, we have terrace houses with prices that decrease, rather than increase, with time!!!
Now, we have MM warning that HDB flats could be no longer be of any value.
If HDB flats become no longer be of any value, what will happen to private properties?
Should I betray my own Propertism religious belief, that properties should only be bought but not sold, and sell off my entire portfolio of properties? :scared-3:
Should Reporter quickly sell his District 9 condo, which he'd just recently bought in Nov 2009? :scared-3:
Will Property_Owner, an old man with a weak heart who owns 40+ properties, suffer a heart attack? :scared-3:
All these lie in the hands of Tampines GRC.
Who here stays in Tampines GRC? :confused:
Bad News!!! Bad News!!! :scared-3:
Property prices could possibly crash after the next general election!!! :scared-3:
The Straits Times - 27 Jan 2010
http://www.straitstimes.com/STI/STIMEDIA/image/20100127/mmlee-lau-fk.jpg
Mr Lee's blunt remarks were in response to a question by dialogue moderator Tommy Koh, who pulled out a Straits Times report which said at least three :scared-4: :scared-4: :scared-4: opposition parties are keen to contest Tampines GRC that Mr Mah helms. -- ST PHOTO: LAU FOOK KONG
THE current contentious issue on the affordability of public housing was given another airing by Minister Mentor Lee Kuan Yew who cautioned Singaporeans not to cast a protest vote against the ruling party over this.
As Singaporeans lament about rising flat prices, he said they ought to understand the Government sells them at a subsidised price, below market rate, so that they can own an asset that will appreciate in value over the years. It adds to their wealth and this is asset-enhancing policy Mr Lee believes citizens should not find fault with.
If they do, they must be 'daft', he said at a dialogue during a housing conference as part of a series of events to mark the Housing Board's (HDB) 50th anniversary.
"And if National Development Minister Mah Bow Tan is unable to defend this policy, 'he deserves to lose' at the next General Election, he quipped to laughter from the participants, including a chuckling Mr Mah.
But if Mr Mah loses to the opposition, he warned that Singaporeans better sell their flats fast as it would no longer be of any value. :scared-3: :scared-3: :scared-3:
WOW ... looks like our Great Religiion - Propertism - which believes that property prices will always rise in the long term, is under threat tonight!!! :scared-4:
First, we have terrace houses with prices that decrease, rather than increase, with time!!!
Now, we have MM warning that HDB flats could be no longer be of any value.
If HDB flats become no longer be of any value, what will happen to private properties?
Should I betray my own Propertism religious belief, that properties should only be bought but not sold, and sell off my entire portfolio of properties? :scared-3:
Should Reporter quickly sell his District 9 condo, which he'd just recently bought in Nov 2009? :scared-3:
Will Property_Owner, an old man with a weak heart who owns 40+ properties, suffer a heart attack? :scared-3:
All these lie in the hands of Tampines GRC.
Who here stays in Tampines GRC? :confused:
I thought property prices was tied to how well the economy is doing, how come suddenly they say HDB prices was propped up by PAP.
Anyway if property prices drop and my income don't drop, it will be a dream come true. GCB at Queen Astrid Park at $500k here I come.
Allthepies
28-01-10, 07:52
Won't it be better for future generations of Singaporeans if HDB has no value. So they can afford a roof over their heads without needing to taking a huge loan and servicing it for long period (30 years)? Say a 4-room flat remains at $40k which most Singaporeans can pay up in under a year. :D U don't call a property an asset unless u have more than 1 =) majority of Singaporeans don't own more than 1 so property is actually a liability to them. :2cents:
i LOL when i read the news... old man getting gan cheong liao
Tony Blair
28-01-10, 08:48
Bad News!!! Bad News!!! :scared-3:
Property prices could possibly crash after the next general election!!! :scared-3:
The Straits Times - 27 Jan 2010
http://www.straitstimes.com/STI/STIMEDIA/image/20100127/mmlee-lau-fk.jpg
Mr Lee's blunt remarks were in response to a question by dialogue moderator Tommy Koh, who pulled out a Straits Times report which said at least three :scared-4: :scared-4: :scared-4: opposition parties are keen to contest Tampines GRC that Mr Mah helms. -- ST PHOTO: LAU FOOK KONG
THE current contentious issue on the affordability of public housing was given another airing by Minister Mentor Lee Kuan Yew who cautioned Singaporeans not to cast a protest vote against the ruling party over this.
As Singaporeans lament about rising flat prices, he said they ought to understand the Government sells them at a subsidised price, below market rate, so that they can own an asset that will appreciate in value over the years. It adds to their wealth and this is asset-enhancing policy Mr Lee believes citizens should not find fault with.
If they do, they must be 'daft', he said at a dialogue during a housing conference as part of a series of events to mark the Housing Board's (HDB) 50th anniversary.
"And if National Development Minister Mah Bow Tan is unable to defend this policy, 'he deserves to lose' at the next General Election, he quipped to laughter from the participants, including a chuckling Mr Mah.
But if Mr Mah loses to the opposition, he warned that Singaporeans better sell their flats fast as it would no longer be of any value. :scared-3: :scared-3: :scared-3:
WOW ... looks like our Great Religiion - Propertism - which believes that property prices will always rise in the long term, is under threat tonight!!! :scared-4:
First, we have terrace houses with prices that decrease, rather than increase, with time!!!
Now, we have MM warning that HDB flats could be no longer be of any value.
If HDB flats become no longer be of any value, what will happen to private properties?
Should I betray my own Propertism religious belief, that properties should only be bought but not sold, and sell off my entire portfolio of properties? :scared-3:
Should Reporter quickly sell his District 9 condo, which he'd just recently bought in Nov 2009? :scared-3:
Will Property_Owner, an old man with a weak heart who owns 40+ properties, suffer a heart attack? :scared-3:
All these lie in the hands of Tampines GRC.
Who here stays in Tampines GRC? :confused:
What if someting untowards happen to MBT like disease,natural disasters and he kick the bucket(GOD forbid,touch wood).Will HDB also crash?
What if someting untowards happen to MBT like disease,natural disasters and he kick the bucket(GOD forbid,touch wood).Will HDB also crash?
HDB flats prices will tumble and my 6 properties will follow him down his grave? :sick:
Property_Owner
28-01-10, 09:19
HDB flats prices will tumble and my 6 properties will follow him down his grave? :sick:
Sigh..4 horsemen are coming then....A loaf of bread will be a day wage.
Anyway if property prices drop and my income don't drop, it will be a dream come true. GCB at Queen Astrid Park at $500k here I come.
Say a 4-room flat remains at $40k which most Singaporeans can pay up in under a year. :D
The posts made by these two people "xebay11" and "Allthepies" suddenly hit me by lightning.
I suddenly realised several profound truths of the Propertism religion - the belief that property prices will always go up in the long term.
Just look at these ...
http://i305.photobucket.com/albums/nn211/jlrx_bucket/QueenAstridParkBungalow19771114.jpg
January 2010
For Sale -Queen Astrid Bungalow (D10)
S$ 26,800,000 Negotiable
Land area: 25,500 sqft
http://www.asiaone.com/migrated/wdu/gardening/greenhavens/gallery/pics/20070623_001c.jpg
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. Today, buyers are willing to pay $500,000.
Today, the Queen Astrid Park Bungalow is asking $26.8 million, which is 54 times the asking price 30+ years ago. Whereas a Marine Parade five-room HDB flat is worth only 17 times what it was 30+ years ago.
Propertism 101 - Morals of the Story
1. If Granny Yeo's Marine Parade HDB 5-room flat had appreciated by the same proportion as the Queen Astrid Park bungalow, a Marine Parade HDB 5-room flat will cost $1.6 Million today. :scared-4:
2. If Granny Yeo had come up with a bit more money back in the 1970's and bought a Queen Astrid Park bungalow for $500,000 instead of a Marine Parade HDB 5-room flat (the difference of $470,000 is quite insignificant, just ask her daughter), then Granny Yeo will be a very rich lady today. :scared-4:
3. If time machines exist, then xebay11 would have gone back to buy a Queen Astrid Park bungalow for $500,000, while Allthepies would have gone back to buy a Marine Parade HDB flat for $40,000. And then history would have repeated itself yet again, whereby the rich gets richer and the poor gets poorer. :scared-4: :scared-4: :scared-4:
4. The reason why HDB flats are not appreciating as much as Queen Astrid Park is because HDB holds the title of the freehold land on which all HDB flats are sitting. HDB is the GOD of PROPERTISM !!! Even more powerful than the Godfather of Propertism - FEO!!! Even more powerful than Koh Sek Lim!!! :scared-4: :scared-4: :scared-4:
Good News!!! Good News!!!
A 2,200 sq ft terrace house right here in Singapore can now be bought for only $500k!!! :scared-4:
They sit on a large plot of freehold land which belonged to Mr Koh Sek Lim, a property owner in the east who has since died.
Mr Koh sold a 70-year lease for the land in the 1960s to several developers who built and marketed the houses there.
Only 26 years remain on the lease of the land.
WOW ... :scared-4:
This Koh Sek Lim is really a man with great foresight!!! :scared-4:
He's even more powerful than our Godfather of Propertism, FEO, who only recently woke up to the fact that land should only be bought. Not sold.
Property_Owner
28-01-10, 09:48
But at least HDB flats appreciate with time. Not like e Shore or Livia....
Bad News!!! Bad News!!! :scared-3:
Property prices could possibly crash after the next general election!!! :scared-3:
The Straits Times - 27 Jan 2010
http://www.straitstimes.com/STI/STIMEDIA/image/20100127/mmlee-lau-fk.jpg
Mr Lee's blunt remarks were in response to a question by dialogue moderator Tommy Koh, who pulled out a Straits Times report which said at least three :scared-4: :scared-4: :scared-4: opposition parties are keen to contest Tampines GRC that Mr Mah helms. -- ST PHOTO: LAU FOOK KONG
THE current contentious issue on the affordability of public housing was given another airing by Minister Mentor Lee Kuan Yew who cautioned Singaporeans not to cast a protest vote against the ruling party over this.
As Singaporeans lament about rising flat prices, he said they ought to understand the Government sells them at a subsidised price, below market rate, so that they can own an asset that will appreciate in value over the years. It adds to their wealth and this is asset-enhancing policy Mr Lee believes citizens should not find fault with.
If they do, they must be 'daft', he said at a dialogue during a housing conference as part of a series of events to mark the Housing Board's (HDB) 50th anniversary.
"And if National Development Minister Mah Bow Tan is unable to defend this policy, 'he deserves to lose' at the next General Election, he quipped to laughter from the participants, including a chuckling Mr Mah.
But if Mr Mah loses to the opposition, he warned that Singaporeans better sell their flats fast as it would no longer be of any value. :scared-3: :scared-3: :scared-3:
WOW ... looks like our Great Religiion - Propertism - which believes that property prices will always rise in the long term, is under threat tonight!!! :scared-4:
First, we have terrace houses with prices that decrease, rather than increase, with time!!!
Now, we have MM warning that HDB flats could be no longer be of any value.
If HDB flats become no longer be of any value, what will happen to private properties?
Should I betray my own Propertism religious belief, that properties should only be bought but not sold, and sell off my entire portfolio of properties? :scared-3:
Should Reporter quickly sell his District 9 condo, which he'd just recently bought in Nov 2009? :scared-3:
Will Property_Owner, an old man with a weak heart who owns 40+ properties, suffer a heart attack? :scared-3:
All these lie in the hands of Tampines GRC.
Who here stays in Tampines GRC? :confused:
Think carefully, the MM is trying to use reverse psychology on people by making a contrast between the opposition party (value plunges) and PAP (value goes up). In a sense, he's just trying to scare people to vote for PAP, in another, he's darn right about property prices plunging if PAP looses. I hope PAP and HDB hold, as this is the only way our wealth can be preserved.
now that stocks are heading south, maybe equities are looking attractive all over again, especially since i off-loaded most of my stuffs few weeks back....
maybe when OCBC hits $5.50, DBS hits $9, I will start accumulating again. and maybe SPH as well.... yield is not too bad... :cool:
anyone into stocks here too? focus?
I think you need to see another major crisis before you see this price. A pullback is possible but that kind of price you hope for, very remote. My 2 cents' worth of thoughts....
Anyway, cycles getting shorter, probably can wait for another 5 to 10 years.
I think it is unfair to compare D10 bungalow with D15 HDB. Let's compare apple to apple outside of D9/D10.
Gillman Height 1984 (with facilities, privatized in 1995) - 1800sqft about 280k
Sold enbloc for 900k after 20+ years (300%)
Simei 4A flat, bought 90k in 1988, now about 400k (400%)
Obviously, Gillman Height enbloc price was too low ... but 400% gain in 20y is the norm outside D9/D10. It only translates to annualized gain of about 7%, close to STI performance.
But again, there are places like Pasir Ris/Woodlands that may not be able to fetch this kind of long term return as highlighted by Property_Owner.
Think carefully, the MM is trying to use reverse psychology on people by making a contrast between the opposition party (value plunges) and PAP (value goes up). In a sense, he's just trying to scare people to vote for PAP, in another, he's darn right about property prices plunging if PAP looses. I hope PAP and HDB hold, as this is the only way our wealth can be preserved.
Even if the opposition wins in Tampines, PAP will still be the Government, so what's the issue? Is not like overnight we will have a new Government in Singapore right? :eek:
proud owner
28-01-10, 10:27
Even if the opposition wins in Tampines, PAP will still be the Government, so what's the issue? Is not like overnight we will have a new Government in Singapore right? :eek:
MBT is the most profitable minister mah ...
when in LTA .. there COE, ERP ...made so so much money ... check spore reserves during the year MAH in LTA
when he in HDB .. new HDB sell so high ..sell so well ..
land Sale during down period , price not right dont count, dont sell
price high high ..sell more land
AGAIN Mah helps the govt make SO much money ... losing him .. whos going to pay for the other ministers' pay ???
Property_Owner
28-01-10, 10:30
Even if the opposition wins in Tampines, PAP will still be the Government, so what's the issue? Is not like overnight we will have a new Government in Singapore right? :eek:
This is scary after e win opposition will tell all Tampines flats owner to sell their flats with a -20% of current price formula.
This is scary after e win opposition will tell all Tampines flats owner to sell their flats with a -20% of current price formula.
I want ... sell it to me :D
I want ... sell it to me :D
I also want.. 1time buyer 30% off.?
Regulators
28-01-10, 11:04
MBT is easily replaceable n not indispensable
What if someting untowards happen to MBT like disease,natural disasters and he kick the bucket(GOD forbid,touch wood).Will HDB also crash?
Property_Owner
28-01-10, 11:04
I dun think prices will be heading for a major correction.
If someone is so confident that the market will be heading for a 20/30% crash, he/she should sell now and buy when that day come.
Risk is only 3%. Upside is 17/27%.
So will prices comes down?
http://www.sph.com.sg/images/logo_st.png
'No' to more rental housing
Rachel Chang
The Straits Times
Thursday, 28 January 2010
Building more flats for rent could ease the burden on younger Singaporeans starting out in life - just as it could help others invest their resources in developing their businesses.
The idea of increasing the Housing Board's pool of rental flats to help those Singaporeans concerned about affordable housing, was put to Minister Mentor Lee Kuan Yew at a conference yesterday.
But he was quick to disagree, arguing that it was tantamount to putting the HDB in a position of subsidising rents indefinitely. It would also create a 'dependency group' - those constantly dependent on the Government and on subsidies.
The right policy is to, instead, subsidise the price of the flat for the buyer, who then has an asset that will appreciate in value as the economy grows.
'I'll improve the surroundings, I'll improve the lifts, the conditions, I'll give you more space. But it is yours and you look after it. And we do not have rundown public housing like other countries which are rental (units),' he said.
The idea was put forward by Professor Deng Yongheng, director of the National University of Singapore's Institute of Real Estate Studies. He said that having more rental flats would help low-income earners, and also allow others to put their money into meeting 'entrepreneurship and other demands'.
Mr Lee said that for those needing resources for their businesses, there was 'nothing to stop you from taking your house, your flat, you go to the bank and say... I've got so much more to pay, this is my income, I need this capital to start a business'.
The HDB clarified later to the media, however, that an HDB flat cannot be used as collateral for a bank loan.
In his response at the dialogue, Mr Lee also said that young Singaporeans wanting to invest in business and not be burdened with financing a flat, could rent from the private sector.
'If you believe you can be a great entrepreneur, then rent a flat from somebody. All the HDB flats are now rentable.'
Mr Lee also disagreed with another idea, raised by Ambassador-at-large Tommy Koh, that the HDB could build retirement communities like those found in Australia and the United States.
Mr Lee said he had read an article by a US doctor, who had assets but who stopped his practice and went into such a home.
'This retirement home was like a hotel and there were other doctors with whom he could discuss things at an intellectual level ... He is in that profession, so he has saved enough to pay for the facilities as if it were a hotel,' Mr Lee said.
'You want American standards of living, be an American doctor. Singapore cannot give you that. We haven't got that kind of economy, nor that kind of land. Not even the developer can afford to go and retire in that kind of situation.'
This is scary after e win opposition will tell all Tampines flats owner to sell their flats with a -20% of current price formula.
The more reason why the MIW cannot afford Oppositions to win, as if HDB prices really drops and become more affordable, then come next election they will lose majority. ;)
1. PR knows limited supply, and will pay for it high
2. Sg sellers want to sell to PR for higher price
3. Sg buyers will have to match to price
interesting policy
1. PR knows limited supply, and will pay for it high
2. Sg sellers want to sell to PR for higher price
3. Sg buyers will have to match to price
interesting policy
Its called Asset Enhancement. :D
Even if the opposition wins in Tampines, PAP will still be the Government, so what's the issue? Is not like overnight we will have a new Government in Singapore right? :eek:
PAP loosing Tampinese will be an important milestone. The opposition will take this opportunity to launch their offensives against PAP using "overinflated" property prices as an excuse causing PAP to take on a defensive approach to avoid more blood shed. Thus, the current policy (see above article) undertook by HDB/PAP will have to be reviewed under the new threat.
From another standpoint:
So answering your question, even if the opposition does not overthrow the government, (PAP) loosing Tampinese to the opposition means the current policy undertook by Mah will become shaky. As a result, HDB might lower new HDB prices and tighten control on the resale market to regain control of the property market. Prices will plunge as panic sellers think of the long term prospect. MM will say, I told you so.
If opposition takes over, they will try to do a change (think Obama) that will surely not benefit the property market.
http://www.sph.com.sg/images/logo_st.png
Don't cast protest vote
Sue-Ann Chia
Senior Political Correspondent
The Straits Times
http://www.straitstimes.com/STI/STIMEDIA/image/20100127/mmlee-lau-fk.jpg
Mr Lee's blunt remarks were in response to a question by dialogue moderator Tommy Koh, who pulled out a Straits Times report which said at least 3 opposition parties are keen to contest Tampines GRC that Mr Mah helms. -- Photo: Lau FookKong, ST
The current contentious issue on the affordability of public housing was given another airing by Minister Mentor Lee Kuan Yew who cautioned Singaporeans not to cast a protest vote against the ruling party over this.
As Singaporeans lament about rising flat prices, he said they ought to understand the Government sells them at a subsidised price, below market rate, so that they can own an asset that will appreciate in value over the years. It adds to their wealth and this is asset-enhancing policy Mr Lee believes citizens should not find fault with.
If they do, they must be 'daft', he said at a dialogue during a housing conference as part of a series of events to mark the Housing Board's (HDB) 50th anniversary.
And if National Development Minister Mah Bow Tan is unable to defend this policy, 'he deserves to lose' at the next General Election, he quipped to laughter from the participants, including a chuckling Mr Mah.
But if Mr Mah lose to the opposition, he warned that Singaporeans better sell their flats fast as it would no longer be of any value.
Mr Lee's blunt remarks were in response to a question by dialogue moderator Tommy Koh, who pulled out a Straits Times report which said at least three opposition parties are keen to contest Tampines GRC that Mr Mah helms, as they want to raise the affordability of public housing as an election issue to gain votes.
Will they put M Mah in MM Lee's GRC?
Will Singaporeans need to sell their flats fast?
Will ..... ?
Regulators
28-01-10, 14:45
If the opposition is going to use the increasing flat prices as an issue in debate, it will be a folly on their part. Majority of voters are flat owners and MM indeed has a point (which I already thought of a long time ago), that nobody who owns a flat would want to see prices stagnate or plummet coz the flat is after all their largest asset and investment. The government has done the right thing by not putting a curb on flat prices as that would be unsound policy-making. I think in this sense, i will have to agree with propertism.
PAP loosing Tampinese will be an important milestone. The opposition will take this opportunity to launch their offensives against PAP using "overinflated" property prices as an excuse causing PAP to take on a defensive approach to avoid more blood shed. Thus, the current policy (see above article) undertook by HDB/PAP will have to be reviewed under the new threat.
From another standpoint:
So answering your question, even if the opposition does not overthrow the government, (PAP) loosing Tampinese to the opposition means the current policy undertook by Mah will become shaky. As a result, HDB might lower new HDB prices and tighten control on the resale market to regain control of the property market. Prices will plunge as panic sellers think of the long term prospect. MM will say, I told you so.
If opposition takes over, they will try to do a change (think Obama) that will surely not benefit the property market.
HDB flats prices will tumble and my 6 properties will follow him down his grave? :sick:
Sigh..4 horsemen are coming then....A loaf of bread will be a day wage.
Don't worry!!! Don't worry!!! :tsk-tsk:
After thinking long and hard, I finally realise what the government will do to make the flats "no longer be of any value" in case Mah Bow Tan loses.
http://letterstoadyingdream.files.wordpress.com/2008/09/kim_jong-il_heart_throb1.jpg
Saint Double-O to the rescue !!! :cheers1:
Dec 1, 2009
N.Korea cuts 2 zeros off bills.
So Queen Astrid Park will now be worth $26.8 Million/100 = $268,000!!! :scared-4:
Granny Yeo's Marine Parade HDB 5-room flat will become $500,000/100 = $5,000!!! :scared-4:
From tomorrow onwards all fresh graduates' starting pay = $20 per month!!! :scared-4:
Chicken rice = 2 cts per plate!!! :2cents:
All existing currency notes will no longer be legal tender, and have to be exchanged into new currency notes. Every old $100 note exchange for one new $1 note. All deposits in bank accounts, share values in CDP accounts will be shifted by two zeros.
Exchange rate becomes new S$1 = US$71.
Effectively nothing has changed. :p
But then people cannot complain. :tsk-tsk:
Imagine at the opposition rally ... "Down with the PAP!!! Thirty years ago, the bloody Granny bought a flat for only $30,000, yet today she is asking for ... asking for ... $5,000." :scared-5:
If the opposition is going to use the increasing flat prices as an issue in debate, it will be a folly on their part. Majority of voters are flat owners and MM indeed has a point (which I already thought of a long time ago), that nobody who owns a flat would want to see prices stagnate or plummet coz the flat is after all their largest asset and investment. The government has done the right thing by not putting a curb on flat prices as that would be unsound policy-making. I think in this sense, i will have to agree with propertism.
I think the folly is when ppl believe property prices will always shoot up. To say that Mah being voted out will result in HDB prices plunging is really quite illogical. After all Mah also did not foresee HDB prices rising by so much. So basically it is just fear mongering aka election tough talk from the old man lah ~
Property market in Singapore will always go up in the long term (with correction along the way) because the supporting fundamental conditions do not change easily:
1. Clean / transparent government with world class English/Chinese education (Jet Li, Jim Rogers ...)
2. Neighbouring countries corrupted and politically unstable with high inflation. Indonesians park their $$ in Orchard, Malaysians at Bukit Timah, Chinese near NTU/NUS, Indians at Tanjong Rhu. Rich Vietnamese / Americans / British are coming ...
3. Competition dying. Once we were alarmed by opening of KLIA and Bangkok's new airport and seaport like PTP but they are now in ashes. Once we were alarmed by Dubai as an alternative ... now?
4. During the past few years, GIC/Temasek manage to buy a big stake in UBS, Citi, Barclays, StanChart ... further strengthening our position as financial service centre
5. Singapore delivers (although slower than China) - massive infra projects like IRs, Changi Airport Terminal 3, KPE, Circle line ...
If the opposition is going to use the increasing flat prices as an issue in debate, it will be a folly on their part. Majority of voters are flat owners and MM indeed has a point (which I already thought of a long time ago), that nobody who owns a flat would want to see prices stagnate or plummet coz the flat is after all their largest asset and investment. The government has done the right thing by not putting a curb on flat prices as that would be unsound policy-making. I think in this sense, i will have to agree with propertism.
Beg to differ:
Sometimes, people just don't think straight. We all know, if all flat owners as majority of voters see this point, there shouldn't be so much unhappiness with the PAP over issues with rising housing cost. Furthermore, we have heard a lot of noise from young people who are next generation voters. These people only have a short term goal in sight.
The potential of the opposition exploiting this issue is very high but I'm sure not as their only "weapon". My point is that the opposition requires support from those noisy people (above) to win and if they do, I'm sure the property market is going in a different direction than today.
Beg to differ:
Sometimes, people just don't think straight. We all know, if all flat owners as majority of voters see this point, there shouldn't be so much unhappiness with the PAP over issues with rising housing cost. Furthermore, we have heard a lot of noise from young people who are next generation voters. These people only have a short term goal in sight.
The potential of the opposition exploiting this issue is very high but I'm sure not as their only "weapon". My point is that the opposition requires support from those noisy people (above) to win and if they do, I'm sure the property market is going in a different direction than today.
Do you know what percentage of the total population is "noisy people"? I am trying hard to figure out this number.
Noise can easily catch our attention but not silence.
My point is: People with loud voice (i.e. "noisy people") may not represent the general public.
Do you know what percentage of the total population is "noisy people"? I am trying hard to figure out this number.
Noise can easily catch our attention but not silence.
My point is: People with loud voice (i.e. "noisy people") may not represent the general public.
I'm trying hard to figure it out too but as a matter of fact, a bit a noise is sufficient to catch the attention of PAP/oppositions. For instance, those online petitioners represent only a small fraction of dissatisfied people but their noise were effective.
http://sg.yimg.com/i/sg/providers/cnalogo4.gif
HDB reviewing rules to ensure no speculation on flats
Joanne Chan
Channel NewsAsia
Thursday, 28 January 2010, 1747 hrs
http://www.channelnewsasia.com/imagegallery/store/phptyhp65.jpg
HDB flats
HDB flats are for owner-occupation and not speculation or rental investment. National Development Minister Mah Bow Tan stressed this point while speaking to reporters on the sidelines of an HDB event on Thursday.
And he has tasked the housing board to review their regulations to ensure that no loopholes are being exploited.
Fresh concerns over the affordability of public housing were sparked when HDB's latest housing data revealed that resale flat prices continued to climb in the fourth quarter of last year.
In addition, the median cash premium that home owners have to pay upfront doubled to S$24,000, prompting calls for the government to step in.
But Mr Mah noted that the resale market should be allowed to operate as a free market, with prices set on a "willing buyer, willing seller" basis.
"Now, if you are a buyer, you feel anxious because you want prices to be low. But if you are a seller, you want prices to be high. So it's not possible for the government to set the resale prices.
"If you were to interfere in the COV (Cash-Over-Valuation), or the resale flat market, essentially, you are saying the government should set the resale flat prices which I think both parties will be unhappy. Why? Because the buyer may be happy today, but today if he's a buyer, tomorrow he would be a seller. Then when we set the prices and he wants to sell, he will be unhappy."
While promoting a free market, Mr Mah drew the line at speculation and stressed that public housing is for owner-occupation.
As such, Mr Mah said the housing board is relooking rules to ensure that prices are not being artificially inflated.
"If somebody is coming in the hopes of making money, through flipping or selling the flats later on, or to buy to rent without staying in there, I think that's not possible, that's not the idea of HDB flats."
Mr Mah declined to say which rules are being studied. But he noted that the review will be completed in a few months' time.
Aside from reviewing regulations, Mr Mah said he has also asked HDB to step up enforcement.
"I've asked HDB to also step up on any possible breaking of the rules. I don't know if it's extensive but anecdotally you do hear one or two cases. So we want to make sure that this is not happening."
Recent reports suggested that some flat owners at the newly completed
Pinnacle@Duxton, had rented out their entire units without a minimum occupation period. This is illegal under HDB's housing rules.
Home buyers who received a grant from HDB must stay in their flat for a minimum of 5 years before they can sublet their entire unit.
For those who do not use a grant, there's a minimum occupation period of three years.
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HDB reviewing rules to ensure no speculation on flats
Joanne Chan
Channel NewsAsia
Thursday, 28 January 2010, 1747 hrs
http://www.channelnewsasia.com/imagegallery/store/phptyhp65.jpg
HDB flats
HDB flats are for owner-occupation and not speculation or rental investment. National Development Minister Mah Bow Tan stressed this point while speaking to reporters on the sidelines of an HDB event on Thursday.
And he has tasked the housing board to review their regulations to ensure that no loopholes are being exploited.
Fresh concerns over the affordability of public housing were sparked when HDB's latest housing data revealed that resale flat prices continued to climb in the fourth quarter of last year.
In addition, the median cash premium that home owners have to pay upfront doubled to S$24,000, prompting calls for the government to step in.
But Mr Mah noted that the resale market should be allowed to operate as a free market, with prices set on a "willing buyer, willing seller" basis.
"Now, if you are a buyer, you feel anxious because you want prices to be low. But if you are a seller, you want prices to be high. So it's not possible for the government to set the resale prices.
"If you were to interfere in the COV (Cash-Over-Valuation), or the resale flat market, essentially, you are saying the government should set the resale flat prices which I think both parties will be unhappy. Why? Because the buyer may be happy today, but today if he's a buyer, tomorrow he would be a seller. Then when we set the prices and he wants to sell, he will be unhappy."
While promoting a free market, Mr Mah drew the line at speculation and stressed that public housing is for owner-occupation.
As such, Mr Mah said the housing board is relooking rules to ensure that prices are not being artificially inflated.
"If somebody is coming in the hopes of making money, through flipping or selling the flats later on, or to buy to rent without staying in there, I think that's not possible, that's not the idea of HDB flats."
Mr Mah declined to say which rules are being studied. But he noted that the review will be completed in a few months' time.
Aside from reviewing regulations, Mr Mah said he has also asked HDB to step up enforcement.
"I've asked HDB to also step up on any possible breaking of the rules. I don't know if it's extensive but anecdotally you do hear one or two cases. So we want to make sure that this is not happening."
Recent reports suggested that some flat owners at the newly completed
Pinnacle@Duxton, had rented out their entire units without a minimum occupation period. This is illegal under HDB's housing rules.
Home buyers who received a grant from HDB must stay in their flat for a minimum of 5 years before they can sublet their entire unit.
For those who do not use a grant, there's a minimum occupation period of three years.
Really meh??? I thought if the children stay in their parent flat, they can apply to rent out their entire flat without staying for the minimum occupation period. Did I get my theory wrong?
Do you know what percentage of the total population is "noisy people"? I am trying hard to figure out this number.
Noise can easily catch our attention but not silence.
My point is: People with loud voice (i.e. "noisy people") may not represent the general public.
After accounting for 80% of the population owning HDB flats and the remaining 20% in private properties, I think the percentage of these "noisy people" should be around 0.01%.
But they never go away. If you read the tone of the writing in the Straits Times forum letter below, published during Singapore's 1985 recession, you will wonder if they are the same Straits Times forum complainers of today.
Maybe they never grow up, even after 25 years? Or maybe their children take over from them?
And the tone of their letter is exactly the same as today. Threatening the Government with sentences like "The authorities will be failing in their duty if they protect the interests of these developers at the expense of those of the members of the public".
They represent the public!!! :scared-4:
Do you see the similarity with today's Straits Times complaint letter writers. They make up only 0.01% and they represent the public!!! :scared-4:
http://i305.photobucket.com/albums/nn211/jlrx_bucket/ProMarketForcesLetter19850110.jpg
However, don't worry. :tsk-tsk:
If the Government was not scared of them 25 years ago, it will not be scared of them today.
Actually, if this "Pro-Market Forces" guy had spent his time reading the property classfieds instead of writing letters to the Straits Times forums, he might have noticed these advertisements.
http://i305.photobucket.com/albums/nn211/jlrx_bucket/LandedHousesForSale19850521.jpg
Regulators
28-01-10, 23:58
remember that there are plenty of noise-makers who eventually vote for PAP
I'm trying hard to figure it out too but as a matter of fact, a bit a noise is sufficient to catch the attention of PAP/oppositions. For instance, those online petitioners represent only a small fraction of dissatisfied people but their noise were effective.
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Sharp rise in job vacancies
Sue-Ann Chia
Senior Political Correspondent
The Straits Times
Thursday, 28 January 2010, 9.39 pm
http://www.straitstimes.com/STI/STIMEDIA/image/20100128/work-joycefang.jpg
The job market made a swift recovery between June and September last year, mirroring the economy's turnaround by recording a sharp rise in job vacancies. -- Photo: Joyce Fang
The job market made a swift recovery between June and September last year, mirroring the economy's turnaround by recording a sharp rise in job vacancies.
After a dismal first-half outlook last year, vacancies rose from 24,500 in June to 34,900 in September.
Sales and service workers were most in demand - the result of new malls opening, and ahead of the two integrated resorts starting operations.
These and other details were contained in the Manpower Ministry's Jobs Vacancy Report 2009 released on Thursday.
The report also noted that almost 3 in 10 job openings in some sectors were not filled for at least 6 months.
These tended to be lower-skilled positions such as those of security guards, sales assistants, waiters and construction labourers.
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MRT Circle Line phase 2 opening set to püsh property prices üp: estate agents
Maggie Chong
Channel NewsAsia
Thursday, 28 January 2010, 2008 hrs
http://www.channelnewsasia.com/imagegallery/store/phpOu28Ce.jpg
A train station on the Circle Line
The opening of the 2nd phase of the Circle Line MRT in April is definitely something to look forward to for residents living nearby. But those looking to sell or rent their homes are set to benefit as well.
Property agents said the opening of the 11 new stations along the Circle Line is likely to püsh property prices üp.
Agents MediaCorp spoke to estimate home prices will increase by 1Ö% while office rents will go up by 20%.
They said estates like Serangoon, Bishan and Paya Lebar have a lot of märkët pötëntïäl while units in industrial estates are also expected to be in high demand.
Eddy Ng, division director, ERA Real Estate, said: "Most of the workers are taking public transport, it can be very accessible for them, if there's an MRT line that leads them back home after work."
PropNex Agent Wilson Low recently brokered a sale to a local couple who paid $730,000 for a 5-room flat at Cantonment Close. This meant a skyrocketing $85,000 COV.
Notable prices were also fetched in Marine Parade, where the median resale price for a 5-room flat reached to $625,000, and Clementi, where an executive flat was priced at $690,000.
If people want to buy Bukit Timah, Queenstown, Marine Parade, Bishan then don't complain about the COV, it is willing buyer willing seller isn't it? Of course there is always a short of supply in mature estates with good location. It is impossible for HDB to quickly build more flats in mature estates, all they have is Punggol, Sembawang, Yishun, Yew Tee, Sengkang ... no wonder MM Lee wants to impose a quota on mature estates for PRs.
The meaning of 'speculation' is likened to 'gambling'.
The people who bought HDB to sell are not 'gambling'. They are investing in the future of SG. So I agree with MBT, those who wish to buy in mature estates should not be complaining about high price because they can always choose re-sale or outskirts. In fact, if I'm smart, I will buy cheap at outskirt and improve the locality step by step and make the value appreciate. This is called citizen's stake in the nation.
What could happen is that HDB flats with loans from banks will be only able to sell after 3 years. Same as HDB loans. And downpayment to increase to 20% or 25% for PR(in effect will cut the COV as it will decrease the amount of cash the buyer would have left for COV).
It is OK to stay in Punggol, Sembawang, Yishun, Yew Tee, Sengkang, etc. lah.
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54 units at Holland Residences sold
Kalpana Rashiwala
The Business Times
Friday, 29 January 2010
The home buying buzz continues at showflats. Allgreen Properties is said to have sold 54 units at its Holland Residences condo at Taman Warna released this week. The average price of the 68 units released in the 83-unit project is $1,625 psf; but the figure is weighed down by private enclosed spaces for ground-floor units in the 5-storey freehold project.
Singaporeans bought 80% of the units sold, says Joseph Tan, executive director at CB Richard Ellis, which is marketing the project.
http://www.businesstimes.com.sg/mnt/media/image/launched/2010-01-29/BT_IMAGES_KRSALES29.jpg
Holland Residences: The average price of the 68 units released in the 83-unit project is $1,625 psf; Singaporeans bought 80% of the units sold.
In a more upscale location, a joint venture between BBR Holdings and SP Tao’s Shing Kwan Pte Ltd has sold 7 of the total 16 units at its 6-storey freehold 8 Nassim Hill project since last Friday. The development is expected to receive Temporary Occupation Permit at the end of March this year.
The project comprises 8 townhouses and 8 penthouses – all of them triplex units spanning across 3 levels. The townhouses occupy the project’s lower 3 levels and range from about 4,200 sqft to 4,500 sqft, while the penthouses, which are on the upper three storeys, are about 3,200 sqft each. Each of the 16 units has its own swimming pool; each townhouse also has its own garden at the back.
The 16 units are priced between $3,100 psf and $3,400 psf or $11 million - $14 million apiece. Singaporeans bought 2 of the 7 units sold so far; the other 5 were picked up by foreigners – from Europe and Hong Kong.
In the Beach Road area, Hong Fok Corporation is said to have recently released upper-floor units at its 99-year leasehold Concourse Skyline priced at $2,200 psf to $2,400 psf. The 360-unit development reaches up to 43 storeys.
Over at Holland Residences, 1-bedroom units (601 sqft) and 2-bedders (ranging from 957 to 979 sqft) were the first to be snapped up at this week’s preview.
The project also has 3- and 4-bedroom units as well as penthouses. Prices of 1-bedders start from $1.06 million. 2-bedders cost between $1.63 million and $1.73 million. The most expensive units sold was $3.6 million for a 4-bedroom duplex penthouse.
The average price of $1,600 psf for Holland Residences is higher than the $1,500 psf at which Ho Bee is selling its nearby Parvis, a 12-storey condo at Holland Hill.
However, there are no 1-bedroom units in Parvis; developers typically can command a higher psf price for smallish units as the lumpsum amount is still relatively small.
Hence the tendency among some developers to build projects with a higher proportion of smallish units to achieve a higher overall average psf price for the development.
At a Knight Frank auction yesterday, a 1,206 sqft unit on the 10th floor of Leedon 2 changed hands for $1.38 million or $1,144 psf. Leedon 2, a freehold development, is said to be more than 20 years old.
proud owner
29-01-10, 11:38
If the opposition is going to use the increasing flat prices as an issue in debate, it will be a folly on their part. Majority of voters are flat owners and MM indeed has a point (which I already thought of a long time ago), that nobody who owns a flat would want to see prices stagnate or plummet coz the flat is after all their largest asset and investment. The government has done the right thing by not putting a curb on flat prices as that would be unsound policy-making. I think in this sense, i will have to agree with propertism.
OMG
i think MM Lee has succeeded once again
time and again , he managed to read Singaporeans like an open book
by making statements like that .. he knows sporeans will fear what he implied will happen .. and vote for PAP again
WHEN did opposition say there will NOT help maintain our assets ??
sporeans are indeed easy to manage ( or manipulate ?)
Really meh??? I thought if the children stay in their parent flat, they can apply to rent out their entire flat without staying for the minimum occupation period. Did I get my theory wrong?
HDB (on instruction from MM Lee and M Mah) will be going all out to hunt down those who illegally/unethically rented out their HDB rooms/flats.
HDB flat rental supply will shrink drastically in coming months. (How many have rented out illegally/unethically?)
For those looking to rent a HDB flat/room, you may want to consider closing that deal much sooner. Otherwise, with a limited supply, you may have to fork out .....
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Sharp rise in job vacancies
Sue-Ann Chia
Senior Political Correspondent
The Straits Times
Thursday, 28 January 2010, 9.39 pm
http://www.straitstimes.com/STI/STIMEDIA/image/20100128/work-joycefang.jpg
The job market made a swift recovery between June and September last year, mirroring the economy's turnaround by recording a sharp rise in job vacancies. -- Photo: Joyce Fang
The job market made a swift recovery between June and September last year, mirroring the economy's turnaround by recording a sharp rise in job vacancies.
After a dismal first-half outlook last year, vacancies rose from 24,500 in June to 34,900 in September.
Sales and service workers were most in demand - the result of new malls opening, and ahead of the two integrated resorts starting operations.
These and other details were contained in the Manpower Ministry's Jobs Vacancy Report 2009 released on Thursday.
The report also noted that almost 3 in 10 job openings in some sectors were not filled for at least 6 months.
These tended to be lower-skilled positions such as those of security guards, sales assistants, waiters and construction labourers.
Sorry, just thought you'd missed out highlighting the most important paragraph. Are these the people who are going to support a property boom?
Property_Owner
29-01-10, 12:28
OMG
i think MM Lee has succeeded once again
time and again , he managed to read Singaporeans like an open book
by making statements like that .. he knows sporeans will fear what he implied will happen .. and vote for PAP again
WHEN did opposition say there will NOT help maintain our assets ??
sporeans are indeed easy to manage ( or manipulate ?)
Coming election will be interesting....
Do you think prices for private property and public housing is link?
Sorry, just thought you'd missed out highlighting the most important paragraph. Are these the people who are going to support a property boom?
Your understanding is incorrect. You may want to read the report carefully again.
The report did not say that job vacancies are only found in lower-skilled positions such as those of security guards, sales assistants, waiters and construction labourers.
The report said those vacancies that were not filled for at least 6 months are found in lower-skilled positions such as those of security guards, sales assistants, waiters and construction labourers.
Vacancies for professionals are at 6,240.
Your understanding is incorrect. You may want to read the report carefully again.
The report did not say that job vacancies are only found in lower-skilled positions such as those of security guards, sales assistants, waiters and construction labourers.
The report said those vacancies that were not filled for at least 6 months are found in lower-skilled positions such as those of security guards, sales assistants, waiters and construction labourers.
Vacancies for professionals are at 6,240.
meaning 34,900 - 6,240 = 28860 are not professionals? :scared-4:
Sorry I can read as well as the next person. But what I was doing, though maybe not clearly enough, is point out that I can also highlight a single fact in an article in BIG RED FONT and pretend the rest is not worth reading.
Does posting in this style make the message any more effective? Just wondering.
meaning 34,900 - 6,240 = 28860 are not professionals? :scared-4:
Sorry I can read as well as the next person. But what I was doing, though maybe not clearly enough, is point out that I can also highlight a single fact in an article in BIG RED FONT and pretend the rest is not worth reading.
Does posting in this style make the message any more effective? Just wondering.
Every single words, diagrams, logos and time, etc. have been posted clearly. None is hidden. You can do your own highlighting if you wish. I have no business in that.
You accused me of "pretend"ing that the rest is not worth reading. I strongly disagree with your accusation.
Perhaps you want to be "bargain hunter II" and do personal attack on me and find fault with me. I have taken note of your desire to do that on me. I will react according.
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PMETs职位空缺最多 (PMET jobs have the most vacanies)
我报
星期五, 29-01-2010
截至去年9月，以专业人士、经理、执行人员与技师（PMET: Professionals, Managers, Executives and Technicians）为对象的职位空缺最多(most väcäncïës)，占所有空缺的44%（15,320个）。
人力咨询公司认为，多数公司会在经济危机时先冻结一般员工（rank and file）的招聘计划，对PMET的需求依然强劲。
不过与1年前同期相比，需要至少大学学历的空缺却少了13.2%（980个），而需要理工学院专业文凭的空缺则增幅最强劲，同比多了36%（1630个）。
人力咨询公司说，工院毕业生更重视实践，而公司在经济不景时会更重视这类型的员工。
人力部（MOM）昨天公布去年9月的职位空缺报告，当中有62%的空缺要求应聘者有工作经验，比前一年的58%多，其中几乎所有（97%）经理与行政人员都得具有与工作和该行业相关的经验。
截至去年9月的总职位空缺共有约34,900个，比截至去年6月的24,500个多了四成。
人力咨询公司认为，随着雇主逐渐接获生产订单，今年工程师的需求将上升，一般员工的招聘计划也将“解冻”。
Every single words, diagrams, logos and time, etc. have been posted clearly. None is hidden. You can do your own highlighting if you wish. I have no business in that.
You accused me of "pretend"ing that the rest is not worth reading. I strongly disagree with your accusation.
Perhaps you want to be "bargain hunter II" and do personal attack on me and find fault with me. I have taken note of your desire to do that on me. I will react according.
Well in that case you have clearly misunderstood.
You think this is personal attack??? Which part was personal? & who the heck is bargain hunter II
You say I have misunderstood the article. I may as well say your statement is a personal attack if we all going to get that sensitive.
& just wanted to know if your style was effective.
Your response btw was much easier to read in regular text.
Enjoy your day!:)
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Singapore Q4 jobless rate at 2.1%
Juliana Tay
The Business Times
Friday, 29 January 2010, 10.23 am
Strong employment growth in the services sector helped the seasonally adjusted overall unemployment rate improve to 2.1% in December from 3.4% in September, the Ministry of Manpower reported on Friday.
Total employment is estimated to grow by 38,700 in the 4th quarter of 2009, higher than the gains of 14,000 in the preceding quarter and 21,300 in the 4th quarter of 2008.
For the whole of 2009, total employment increased by 38,800, as job gains in the 2nd half of the year more than offset the losses in the 1st half.
Most of the employment gains came from services - especially for the year-end festivities and the integrated resorts - added 32,100 workers in the 4th quarter of 2009, significantly higher than the gains in the first 3 quarters of the year and the 4th quarter of 2008. For the whole of 2009, services employment rose by 56,100.
Construction added 4,700 workers in the quarter, bringing its total gains to 25,200 in 2009.
After shedding workers for 4 consecutive quarters, manufacturing employment rose by 1,400 in the 4th quarter. As the gains were not sufficient to offset the earlier losses, manufacturing employment contracted by 43,000 in 2009.
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Singapore Q4 jobless rate at 2.1%
Juliana Tay
The Business Times
Friday, 29 January 2010, 10.23 am
Strong employment growth in the services sector helped the seasonally adjusted overall unemployment rate improve to 2.1% in December from 3.4% in September, the Ministry of Manpower reported on Friday.
Total employment is estimated to grow by 38,700 in the 4th quarter of 2009, higher than the gains of 14,000 in the preceding quarter and 21,300 in the 4th quarter of 2008.
For the whole of 2009, total employment increased by 38,800, as job gains in the 2nd half of the year more than offset the losses in the 1st half.
Most of the employment gains came from services - especially for the year-end festivities and the integrated resorts - added 32,100 workers in the 4th quarter of 2009, significantly higher than the gains in the first 3 quarters of the year and the 4th quarter of 2008. For the whole of 2009, services employment rose by 56,100.
Construction added 4,700 workers in the quarter, bringing its total gains to 25,200 in 2009.
After shedding workers for 4 consecutive quarters, manufacturing employment rose by 1,400 in the 4th quarter. As the gains were not sufficient to offset the earlier losses, manufacturing employment contracted by 43,000 in 2009.
Hey!
Next time, pass this kindda only-need-to-hold-6-months lobang to me please!
What a lucky guy from Martin Place Residences!
Martin Place Residences
Address ..................... psf .............. Area ........... Price ............ Contract Date
2 Martin Place #29-06 .... $1,800 psf .... 1,044 sqft .... $1,879,000 ...... 2 Dec 09
2 Martin Place #29-06 .... $1,582 psf .... 1,044 sqft .... $1,652,000 .... 25 May 09
No wonder people in District 9 are smiling lately.
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Aspen Heights condo resale price hits $1,450 psf
The Edge
Monday, 25 January 2010
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Aspen Heights
Aspen Heights may be 11 years old, but the massive 606-unit condominium located along River Valley Road has been enjoying a resurgence of interest from homebuyers, riding on strong sales of new developments nearby. After only 15 transactions hovering at the $1,000 psf level in the first half of 2009, more than 30 units have changed hands in 2H2009, with prices surging past $1,400 psf. For the period Dec 23 to 31, there were three caveats for units sold at $1,250 to $1,450 psf, according to URA Realis.
After the onset of the financial crisis in late 2008, prices at Aspen Heights sank below $1,000 psf for about half a year, before rebounding strongly in June 2009 with the rest of the market. The main reason for the upturn could be the strong sales of nearby developments, including The Wharf Residence and Martin Place Residences, which were among the top sellers last year.
The 2 upper-mid-tier projects were relaunched in mid-May last year at prices that were 20% lower than in early 2008. For instance, in mid-May last year, CapitaLand had priced the remaining units at the 173-unit The Wharf Residence on Tong Watt Road off River Valley Road at $1,200 to $1,500 psf, compared with $1,500 to $1,900 psf for the first phase released at previews in mid-2008. Meanwhile, Frasers Centrepoint Ltd also relaunched Martin Place Residences at Martin Place off Kim Yam Road at $1,260 to $1,700 psf, compared with its soft launch in early 2008, when 28 units were sold between $1,700 and $2,000 psf.
Since last May, however, prices of both projects have enjoyed an uplift. Last October, a high of $1,496 psf was achieved in a new sale by the developer when a 2,206 sq ft unit at The Wharf Residence was sold for $3.3 million. The condo is expected to be completed in 2013.
Likewise, at the 302-unit Martin Place Residence, sales have picked up since May. Last month, a 1,044 sqft unit was sold for $1.88 million, or $1,800 psf, in a sub-sale according to a Dec 2 caveat. This is a 13.7% gain for the original owner, who purchased the unit from Frasers Centrepoint Homes and sold it in just 6 months.
The buoyant demand for homes in the River Valley Road area could also have been sparked by the new shopping centres that opened along Orchard Road last year: ION Orchard, Orchard Central, 313@Somerset and Triple One Somerset (at the former Singapore Power Building site). Easy access to a range of good schools like River Valley Primary School and Singapore Management University as well as cafés and restaurants in the Robertson Quay area continue to reel in families with school-going children as well as investors.
New developments under construction have also drawn buyer interest to existing developments in the River Valley and Mohamed Sultan neighbourhood. The largest project in the area is easily Aspen Heights, developed by the former DBS Land (now part of CapitaLand). Units range from 882 sqft 2-bedroom apartments to 1,604 sqft for 4-bedrooms, while penthouses measure 2,691 to 3,143 sqft.
With prices recovering to 2007 levels, it’s also a good time for owners looking to sell their properties. According to a Dec 30 caveat, a 1,324 sqft unit on the fifth floor of block 263 (one of two blocks) changed hands for $1.67 million, or $1,260 psf, translating into a 23% gain for the seller, who purchased the unit in early 2007.
On the 10th floor of the neighbouring block 261, a 2,691 sqft penthouse fetched $3.9 million, or $1,450 psf. That’s a 19% gain for the seller, who purchased the unit for $3.28 million 3 years ago, according to a March 2007 caveat.
With renewed investor interest in projects in Orchard Road and investors targeting both older projects and new launches, it won’t be surprising to see resale prices at Aspen Heights returning to or even surpassing mid-2007 levels.
No wonder people in District 9 are smiling lately.
You have just raised a very good point about District 9.
If you look at the 1985 classifieds below, you will notice that on row 4, a 2,300 sq ft terrace at Orchard Road (District 9) asking $450,000 ($196 psf) looked unreasonably high compared to say, on row 3, a 4,200 sq ft semi-detached in Serangoon Gardens (District 19) asking $420,000 ($100 psf).
http://i305.photobucket.com/albums/nn211/jlrx_bucket/LandedHousesForSale19850521.jpg
If we compare prices today, a 4,200 sq ft Semi-Detached at Serangoon Gardens is worth approximately $2.78 Million. (e.g. No. 5, Chartwell Drive, 1-Storey Semi-Detached, 4,200 sq ft @ 662 psf, transacted $2,780,000 on 30 October 2009).
That's 6.6 times it's price 25 years ago.
As for District 9 landed houses, the most prominent cluster would be at Kim Lin Park (which is zoned as landed housing), latest transacted at $1,356 psf (No. 5, One Tree Hill, 4,092 sq ft @ $1,356 psf, transacted $5,550,000 on 17 Nov 2009), an increase of 6.9 times, comparable to District 19, percentage wise.
On the other hand, if the landed house had fallen in a non-landed housing zone, like the following row of houses along Paterson Road ... :scared-4: :scared-4: :scared-4:
Business Times - 1 July 2006
Bt Sembawang buys site for $102.7m
1 July 06
Freehold Paterson Rd/Lengkok Angsa site has 14 houses
CONTINUING its land-banking spree, Bukit Sembawang Estates yesterday announced the acquisition of its seventh site over the past year.
It has bought a 44,663-square-foot freehold site at Paterson Road/Lengkok Angsa next to a plot it bought last year. Bukit Sembawang is paying $102.7 million for the latest site where there are 14 houses.
Under the latest collective sale yesterday, owners of the 14 houses will receive sums ranging from $4.5 million to $12 million per house. These sums are more than double what they would have fetched had they sold their homes individually. The site is zoned for residential use with 2.1 plot ratio and 24-storey height limit.
At $102.7 Million for 44,663 sq ft, the unit land price was $2,299 psf!!! :scared-4:
A 2,300 sq ft terrace house would be worth $5,287,700!!!! :scared-4: That's 11.8 times the asking price of $450,000 in 1985!!! :scared-4:
Hence even though District 9 prices look unreasonablly high, they may have higher upside potential.
Moral of the Story
What looks expensive may not be expensive; what looks cheap may not be cheap.
There is a class of properties that is grossly undervalued today. It's the GCBs.
http://i305.photobucket.com/albums/nn211/jlrx_bucket/QueenAstridParkBungalow19771114.jpg
January 2010
For Sale -Queen Astrid Bungalow (D10)
S$ 26,800,000 Negotiable
Land area: 25,500 sqft
They have gone up 54 times over the past 33 years from asking $500k to asking $26.8 million (and the 1977 bungalow was 30,000 sq ft whereas the present one only 25,500 sq ft). :doh:
Unfortunately, even though all of us know that GCBs are grossly undervalued, given their very limited supply and the potential oversupply of millionaires/ billionaires coming up, there is nothing much most of us could do.
proud owner
30-01-10, 02:07
Coming election will be interesting....
Do you think prices for private property and public housing is link?
HDB forms the base ... if PAP can talk until they HOLD the base price firmly .. and/or even push it a nudge higher .. private props will automatically be raised as well ..
so YES they are linked ...
this holds true for mass mkt .. for high end to luxurious props ..of course its a different playing field ...
Regulators
30-01-10, 02:19
I think the housing debate will hold no water for the opposition. buyers are disgruntled about rising prices and sellers will be disgruntled if prices fall due to govt control, it is a chicken and egg situation so govt pushes everything to "let the market decide" and the opposition will just lan lan. remember that majority of the opposition members live in hdb flats so unless they sell their flats at value or at the price they bought, they will not be setting an example and walking the talk, so no point for them to even bring it up.
proud owner
30-01-10, 02:28
I think the housing debate will hold no water for the opposition. buyers are disgruntled about rising prices and sellers will be disgruntled if prices fall due to govt control, it is a chicken and egg situation so govt pushes everything to "let the market decide" and the opposition will just lan lan. remember that majority of the opposition members live in hdb flats so unless they sell their flats at value or at the price they bought, they will not be setting an example and walking the talk, so no point for them to even bring it up.
precisely ...
oppositions will have other issues to tackle then HDB prices .. shooting themselves really
So which is why i said MM Lee's talk about Mah losing tampines is playing on the people's psychology ...
instal some fear ( thats not there..) ..so that people vote for MAH /PAP ..
and he knows singaporeans at the back of his palm ..just like the 5 finger mountain controlling the people..just like how the mountain controlled monkey god .....
as much as i respect what he has done for this country .. he has done as much mind controlling .. which stifle 'outside the box' thinking .. cant blame it when outsiders see us as being 'spoon fed'
on the other hand ..the rich people ..they have money ..they really dont care what he says ... they can THINK on their own .. and they also play along .. along with MM's reverse psychology and use it to make more money ..
so at the end of the day ... the rich are happy .. the middle class (HDB+mass mkt) are happy ... while those at the bottom of the food chain really suffer ... and i can tell you they are not even able to get here on this forum .. to defend themselves ..
precisely ...
oppositions will have other issues to tackle then HDB prices .. shooting themselves really
So which is why i said MM Lee's talk about Mah losing tampines is playing on the people's psychology ...
instal some fear ( thats not there..) ..so that people vote for MAH /PAP ..
and he knows singaporeans at the back of his palm ..just like the 5 finger mountain controlling the people..just like how the mountain controlled monkey god .....
as much as i respect what he has done for this country .. he has done as much mind controlling .. which stifle 'outside the box' thinking .. cant blame it when outsiders see us as being 'spoon fed'
on the other hand ..the rich people ..they have money ..they really dont care what he says ... they can THINK on their own .. and they also play along .. along with MM's reverse psychology and use it to make more money ..
so at the end of the day ... the rich are happy .. the middle class (HDB+mass mkt) are happy ... while those at the bottom of the food chain really suffer ... and i can tell you they are not even able to get here on this forum .. to defend themselves ..
I can tell you this statement is so true and so right. The rich + middle represent more than 80% of the population. To lower housing cost just to please these 20% :tsk-tsk:
To cause a drastic plunge in property prices just so these 20% can afford a HDB flat :scared-3::scared-3::scared-3:
I can tell you this statement is so true and so right. The rich + middle represent more than 80% of the population. To lower housing cost just to please these 20% :tsk-tsk:
To cause a drastic plunge in property prices just so these 20% can afford a HDB flat :scared-3::scared-3::scared-3:
drastic plunge in hdb flats? thats just election talk and fear mongering ~
drastic plunge in hdb flats? thats just election talk and fear mongering ~
Agreed........ :)
Agreed........ :)
马部长: 放马过来。
全部一起吗？ ... 一个，还是两个？
So funny!
http://www.sph.com.sg/images/logo_lhzbs.png
传三反对党有意角逐淡滨尼集选区 马宝山：放马过来
蔡永伟
早报星期天
星期天, 31-1-2010
http://www.straitstimes.com/STI/STIMEDIA/image/20090729/MahBowTan-ZAOBAO.jpg
针对反对党将借组屋价格飙升所引起的不满情绪，在下一届大选挑战负责住屋政策的国家发展部长马宝山所领导的淡滨尼集选区，马宝山昨晚信心满满表示欢迎，并说已做好了迎战准备。
马宝山是在昨晚出席淡滨尼基层组织一个新春亮灯和派发度岁金活动上受访时，首次针对国民团结党、工人党和新加坡民主党有意到淡滨尼集选区角逐的传言，作出回应。
他先问记者：“全部三个（反对党）？全部一起吗？他们跟你说的？”接着便说：“首先，我欢迎他们，不管是全部，一个，还是两个。”
..........
..........
proud owner
31-01-10, 13:18
马部长: 放马过来。
全部一起吗？ ... 一个，还是两个？
So funny!
hahaha
making fun of his own name ...
how about "horse doesnt know he has long face " ?
Regulators
31-01-10, 16:19
i think he should get those ugly looking warts on his face removed ...
hahaha
making fun of his own name ...
how about "horse doesnt know he has long face " ?
Oh! And District-9 Watermark Robertson Quay's resale has a nëw hïgh.
No biggie!
If more-than-11-year-old former-EC in District 18 can break high, surely WRQ can too.
Wow!
The more-than-11-year-old former-EC Simei Green has just set a nëw hïgh of $653 psf for its resale.
What a way to start the year!
Simei Green Condominium
Address ......................... psf ............. Area ............ Price .......... Contract Date
3 Simei Street 4 #07-02 ..... $653 psf ..... 1,195 sqft ..... $780,000 ..... 11 Jan 10
proud owner
01-02-10, 00:07
i think he should get those ugly looking warts on his face removed ...
no lah ... maybe his ang mo wife likes the warts leh ...
or maybe those arent warts .. but his facial nipples ... his pleasure points
No biggie!
If more-than-11-year-old former-EC in District 18 can break high, surely WRQ can too.
Again, no biggie!
If EC can break high, why shouldn't a full condo like Simei Green?
Park Green in District-19 Sengkang is one such EC that brökë hïgh very recently.
How I wish I am vested in Simei Green or Park Green or Nuovo or .....!
Copyright © 2010
Reporter, CONDOsingapore.com
It looks like the Battle of the ECs has continued. Each EC has been working hard to break its last high.
- Almost-10-year-old The Rivervale (TR) hit $580 psf in October 2009.
- Going-6-year-old Nuovo hit $674 psf in December 2009.
- TR's neighbour, the going-6-year-old Park Green hit $591 psf in December 2009. That is $11 psf higher than TR!
- As a reference, going-12-year-old former-EC Simei Green hit $653 psf in January 2010.
Park Green
Address ........................ psf ............. Area ........... Price .......... Contract Date
8 Rivervale Link #13-15 ..... $591 psf ..... 1,184 sqft .... $700,000 ..... 15 Dec 09
The Quartz's owners must be feeling lucky with strong price support from its neighbouring EC's - The Rivervale and Park Green.
Unfortunately I am not vested! :(
Copyright © 2010
Reporter, CONDOsingapore.com
Again, no biggie!
If EC can break high, why shouldn't a full condo like Simei Green?
Park Green in District-19 Sengkang is one such EC that brökë hïgh very recently.
How I wish I am vested in Simei Green or Park Green or Nuovo or .....!
Nëw hïgh for The Floravale EC in District 22 and Lilydale EC in District 27 too.
If only I have bought any one of or both of them!
Copyright © 2010
Reporter, CONDOsingapore.com
Going-10-year-old The Floravale EC has hit a nëw hïgh of $546 psf in November 2009.
The Floravale
Address .................................. psf ............. Area ........... Price .......... Contract Date
238 Westwood Avenue #06-44 ..... $546 psf ..... 1,227 sqft .... $670,000 ..... 25 Nov 09
Almost-7-year-old Lilydale EC has hit a nëw hïgh of $542 psf in November 2009.
Lilydale
Address ............................... psf ............. Area ........... Price .......... Contract Date
550 Yishun Avenue 6 #10-04 ..... $542 psf ..... 1,195 sqft .... $648,000 ..... 16 Nov 09
The $1M HDB becoming a reality earlier than expected? :scared-1:
S$ 990,000 Negotiable | 3 beds | HDB Type 5A
1,313 sqft / 122 sqm | S$ 754.00 psf (built-in) (http://www.propertyguru.com.sg/listing/847157/for-sale-marine-terrace)
For SALE-5 room point block, Marine Terrace
High floor, panoramic seaview!! (http://www.propertyguru.com.sg/listing/847157/for-sale-marine-terrace)
http://i2.propertyguru.com.sg/images/thumb/f/9/d/0/f9d01a1257415_1_V550.jpg
The $1M HDB becoming a reality earlier than expected? :scared-1:
S$ 990,000 Negotiable | 3 beds | HDB Type 5A
1,313 sqft / 122 sqm | S$ 754.00 psf (built-in) (http://www.propertyguru.com.sg/listing/847157/for-sale-marine-terrace)
For SALE-5 room point block, Marine Terrace
High floor, panoramic seaview!! (http://www.propertyguru.com.sg/listing/847157/for-sale-marine-terrace)
http://i2.propertyguru.com.sg/images/thumb/f/9/d/0/f9d01a1257415_1_V550.jpg
That view is not from very high floor view to begin with and secondly, that circa HDB flats cannot see any view if you are sitting down in the living room, you have to stand in order to see any seaview, due to the tiny, tiny living room windows, how to truly enjoy sea views?
Anyway, good luck to the seller, for private property owners, high HDB prices would just be fuel to push up private property prices.
Regulators
01-02-10, 15:48
If the flat is 5 yr old, maybe some idiots will consider, but for the age of the unit and the asking, it is ridiculous...:doh:
The $1M HDB becoming a reality earlier than expected? :scared-1:
S$ 990,000 Negotiable | 3 beds | HDB Type 5A
1,313 sqft / 122 sqm | S$ 754.00 psf (built-in) (http://www.propertyguru.com.sg/listing/847157/for-sale-marine-terrace)
For SALE-5 room point block, Marine Terrace
High floor, panoramic seaview!! (http://www.propertyguru.com.sg/listing/847157/for-sale-marine-terrace)
http://i2.propertyguru.com.sg/images/thumb/f/9/d/0/f9d01a1257415_1_V550.jpg
all these have today made angsuah the new tanglin, balestier the new novena, lower delta the new river valley, and little india the new prime city area.
The Straits Times
Feb 1, 2010
Tg Pagar is next Marina Bay
http://www.straitstimes.com/STI/STIMEDIA/image/20100201/jctanjo-ura.jpg
The Economic Strategies Committee (ESC) has suggested the Government redevelop the port land at Tanjong Pagar, Keppel and Pulau Brani into a new waterfront city. -- PHOTO: URBAN REDEVELOPMENT AUTHORITY
EVEN before Singapore's Marina Bay is completed, the next iconic development has been identified by the Economic Strategies Committee (ESC) - Tanjong Pagar.
Senior Minister of State Grace Fu said on Monday that the port could be transformed 'into a another Marina Bay and it can offer immense opportunities to support future growth'.
This is an example of the 'bold and imaginative urban planning and redevelopment' that the ESC report said is necessary to develop the infrastructure necessary to provide 'the highest quality of life in Asia'.
The port's lease is up in 2027.
'We have to make more efficient use of our land, to maximise optimise its economic value and preserve a sense of space in our residential neighbourhoods,' said the report, released on Monday.
'We must also expand our land bank. by investing in the creation of underground space, especially around our transport nodes,' it added.
The end-goal of such infrastructure development is to position Singapore as a global city.
'Being a global city and a meeting point in Asia for enterprise, talent, cultures and ideas, will be a source of competitiveness and growth in its own right.' said the report.
The $1M HDB becoming a reality earlier than expected? :scared-1:
S$ 990,000 Negotiable | 3 beds | HDB Type 5A
1,313 sqft / 122 sqm | S$ 754.00 psf (built-in) (http://www.propertyguru.com.sg/listing/847157/for-sale-marine-terrace)
For SALE-5 room point block, Marine Terrace
High floor, panoramic seaview!! (http://www.propertyguru.com.sg/listing/847157/for-sale-marine-terrace)
http://i2.propertyguru.com.sg/images/thumb/f/9/d/0/f9d01a1257415_1_V550.jpg
Err ... some people are a little unhappy about your 5-room asking price leh.
5-room Marine Parade HDB flat asking for nearly S$1 million
Correspondent
Temasek Review
Monday, 1 February 2010
The day when HDB flats will cost no less than $1 million may be closer than what Singaporeans think.
A property agent has put up a 5-room HDB flat in Marine Parade for sale at a shocking price of $990,000 on an internet property portal:
http://www.temasekreview.com/wp-content/themes/church_10/images/thumbnails/marinerecord585.jpg
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excellent! hopefully by then can upgrade to a nice waterfront landed.
The Straits Times
Feb 1, 2010
Tg Pagar is next Marina Bay
http://www.straitstimes.com/STI/STIMEDIA/image/20100201/jctanjo-ura.jpg
The Economic Strategies Committee (ESC) has suggested the Government redevelop the port land at Tanjong Pagar, Keppel and Pulau Brani into a new waterfront city. -- PHOTO: URBAN REDEVELOPMENT AUTHORITY
EVEN before Singapore's Marina Bay is completed, the next iconic development has been identified by the Economic Strategies Committee (ESC) - Tanjong Pagar.
Senior Minister of State Grace Fu said on Monday that the port could be transformed 'into a another Marina Bay and it can offer immense opportunities to support future growth'.
This is an example of the 'bold and imaginative urban planning and redevelopment' that the ESC report said is necessary to develop the infrastructure necessary to provide 'the highest quality of life in Asia'.
The port's lease is up in 2027.
'We have to make more efficient use of our land, to maximise optimise its economic value and preserve a sense of space in our residential neighbourhoods,' said the report, released on Monday.
'We must also expand our land bank. by investing in the creation of underground space, especially around our transport nodes,' it added.
The end-goal of such infrastructure development is to position Singapore as a global city.
'Being a global city and a meeting point in Asia for enterprise, talent, cultures and ideas, will be a source of competitiveness and growth in its own right.' said the report.
watch the first resale transaction of pinnacle duxton in 5 years time... the figure will be mind boggling.
proud owner
01-02-10, 21:07
Err ... some people are a little unhappy about your 5-room asking price leh.
honestly those flats are easily 30 yrs old ,,
hard to get a commercial loan with 65-70 yr remaining ..
if it had been a private FH condo (maybe even leasehold) ..at least got chance of enbloc ..
HDB ...hhhmm when it gets too old .. HDB may just vacate them .. re-offer owners with alternatibe location .. citing old building= dangerous as a reason to move them .. then leave the plot empty for 5 years ..and then sell to private developers to build condo .. just like Metropolitan and Ascentia at red hill ...those plots were HDB before ..
so i would seriously caution buyers of those marine parade HDB .. you may not get back as much as you paid for them .. shold HDB decides to take them back ... if HDB says they are too old and need to be torn down .. you think owners have a say in that ?
http://www.ap.org/media/images/logo.gif
Obama unveils US$3.83T budget with massive deficits
Martin Crutsinger
AP Economic Writer
Associated Press
Monday, 1 February 2010, 7.57 am U.S. EST
http://d.yimg.com/a/p/ap/20100131/capt.2378260fbb164dcc9f9815faa20c40a8.obama_2010_analysis_wx107.jpg
In this Jan. 27, 2010, file photo President Barack Obama delivers the first State of the Union address of his presidency on Capitol Hill in Washington. To the joint session of Congress Obama said, 'So, as temperatures cool, I want everyone to take another look at the plan we've proposed ... if anyone from either party has a better approach that will bring down premiums, bring down the deficit, cover the uninsured, strengthen Medicare for seniors and stop insurance company abuses, let me know ... I'm eager to see it.' Vice President Joe Biden and House Speaker Nancy Pelosi are seen in the background. -- Photo: Tim Sloan, AP
President Barack Obama sent Congress a US$3.83 trillion budget on Monday that would pour more money into the fight against high unemployment, boost taxes on the wealthy and freeze spending for a wide swath of government programs.
The deficit for this year would surge to a record-breaking $1.56 trillion, topping last year's then unprecedented $1.41 trillion gap. The deficit would remain above $1 trillion in 2011 although the president proposed to institute a three-year budget freeze on a variety of programs outside of the military and homeland security as well as increasing taxes on energy producers and families making more than $250,000.
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Also on the deficit front, the president has endorsed a pay-as-you-go proposal that passed the Senate last week. It would require any new tax cuts or entitlement spending increases to be paid for, and he has promised to create a commission to recommend by year's end ways to trim the deficits. Administration officials briefing reporters on Sunday declined to say when the commission would be appointed.
US$3.83 trillion?
Not sure how he can do it.
Unless ... he upgrade his printer to handle the heavier volume.
Err ... some people are a little unhappy about your 5-room asking price leh.
The same people who are unhappy over COV too? :rolleyes:
Nope, not mine but will be nice if it is. :D
proud owner
01-02-10, 22:51
The same people who are unhappy over COV too? :rolleyes:
Nope, not mine but will be nice if it is. :D
i am more than happy for those HDB dwellers if their flats can go to 1 mio
but those at marine parade .. as i pointed out in earlier post.. are just too old .. and risk being ' forced to be taken back" by HDB ... vacate the land ..only to be sold to private developers later ..
and the high premium paid for 30-35 yr old HDB there may be lost .. when HDB offer them other location ..IF my opinion that HDB may take back old HDB there .. better income if sold to private
i am more than happy for those HDB dwellers if their flats can go to 1 mio
but those at marine parade .. as i pointed out in earlier post.. are just too old .. and risk being ' forced to be taken back" by HDB ... vacate the land ..only to be sold to private developers later ..
and the high premium paid for 30-35 yr old HDB there may be lost .. when HDB offer them other location ..IF my opinion that HDB may take back old HDB there .. better income if sold to private
I am renting my 20year old HDB flat (bought from open market 8 years ago). Wonder when HDB building is en-block taken back by HDB, what's the compensation for owners like us? Market price? Valuation price?
Can I buy a new flat under HDB enblock scheme ? I am staying in private property and no intention to move back to HDB just in order to own one new flat. If you have any idea, thanks!
I am renting my 20year old HDB flat (bought from open market 8 years ago). Wonder when HDB building is en-block taken back by HDB, what's the compensation for owners like us? Market price? Valuation price?
Can I buy a new flat under HDB enblock scheme ? I am staying in private property and no intention to move back to HDB just in order to own one new flat. If you have any idea, thanks!
Good question.
Any kind-hearted soul, please reply him in a new/separate thread.
Thanks!
Bedok North EA, some foreign couple paid $150K COV liao ... broke all record in Singapore ... $1 Million for HDB not far off !
$1mil would require at least $350-400k COV man... Don't tell me the HDB's valuation of a 5 rm around Marine Terrace vicinity is $850k?
So COV's high is currently standing at $150,000?
What's the valuation of that 5-room flat at 14 Marine Terrace? $850,000?
Bedok EA with seaview, top floor.
Transacted at $150k COV!
President Barack Obama sent Congress a US$3.83 trillion budget on Monday that would pour more money into the fight against high unemploymentUS$3.83 trillion?
Not sure how he can do it.
Unless ... he upgrade his printer to handle the heavier volume.
Obama doesn't seem to realise that the US unemployment problem cannot be solved.
There is simply an oversupply of human capital due to the world human population explosion.
http://one-simple-idea.com/WorldPopulationGrowth2025.jpg
Whereas in the past, third world labour had different skill sets from those of Americans, what is there today to differentiate an Indian programmer from an American programmer, or a Chinese engineer from an American engineer?
If Obama insists on printing money until America's unemployment problem is solved, he is going to fulfill Voltaire's prophecy made 300 years ago.
“The modern banking process manufactures currency out of nothing.”.
- Lord Josiah Stemp, Former Director of the Bank of England (1937)
“At the end fiat money returns to its inner value—zero.”
- Voltaire (21 November 1694 – 30 May 1778)
So hold tightly to your properties! No matter what, don't sell! :tsk-tsk:
So COV's high is currently standing at $150,000?
What's the valuation of that 5-room flat at 14 Marine Terrace? $850,000?
Neptune court (5-rm HDB size unit) is selling at below $1 mil.. (with enbloc potential)... what is the benefit to get a HDB at same price along the same stretch and with similar view ?
Agreed with Proud Owner, the HDB along marine parade will go. Probably before the MRT plan is released. HDB owners at marine parade is unlikely to gain much from the so-called enbloc, (how much gain can you expect, buying back your "prime property" with some premium and let you buy a less prime location at market rate ?)
Better to sell the HDB at current crazy price, get a private along marine parade to take advantage of marine parade revamp.
http://bhtest.asia1.com.sg/mnt/static/image/images/topMasthead_small.gif
Developers brimming with new launches
Far East said to be top seller in January; Lippo and MCL may release some units
Kalpana Rashiwala
The Business Times
Tuesday, 2 February 2010
http://www.businesstimes.com.sg/mnt/media/image/launched/2010-02-02/BT_IMAGES_KRPROJECTS2.jpg
On the rise: The average price for Centennia Suites is being touted at $2,000 psf or even higher, beating prices in secondary market for nearby projects.
Even as developers have gotten off to a good start this year, selling well over 1,000 private homes in January, their launch machinery remains well oiled for more roll-outs in the near future.
Lippo Group is expected to preview Centennia Suites on the former Kim Seng Plaza site, diagonally opposite Great World City, later this week. The average price for the District 9 freehold project is being touted at $2,000 psf or even higher.
This is higher than recently achieved prices in the secondary market for nearby projects such as The Trillium and The Cosmopolitan but Lippo is probably banking on the exclusivity factor to market its latest offering. The 36-storey freehold Centennia Tower comprises a single tower with just 97 units, comprising 2-, 3- and 4-bedroom apartments and 2 penthouses.
The 2-bedders are relatively large at slightly over 1,200 sqft. 3-bedders come in 5 variations but all around 1,800 sqft; 4-bedroom apartments also have 5 variations of roughly 2,250 sqft. Centennia’s 2 penthouses are around 3,300 sqft and 4,400 sqft. BT understands that the project is being marketed by CB Richard Ellis and Jones Lang LaSalle.
Agents are also busy gathering interest for MCL Land’s The Estuary, a 608-unit condo at Yishun Ave 1/2. Some market watchers say that they would not be surprised if MCL releases some units before the Chinese New Year break.
For the month of January, Far East Organization (FEO) is believed to have been the top seller, with sales of close to 300 units. Its bestseller was The Shore Residences, a 103-year-old condominium project on the former Rose Garden site in Katong. Far East is understood to have sold over 140 units in the project last month.
City Developments (CDL) sold 243 units in January, the bulk of which were in Cube 8 at Thomson Road (167 units) and Livia in Pasir Ris (59 units), a CDL spokeswoman said.
Fellow property giant CapitaLand also did brisk sales. Its 165-unit Urban Suites condo in the Cairnhill area is said to be left with fewer than 30 units.
Frasers Centrepoint sold a total 102 units last month, including 43 units at its Residences Botanique in the Yio Chu Kang/Sirat roads area.
Frasers Centrepoint’s and Far East’s sales numbers are inclusive of about 35 units sold at their 2 joint-venture condominium projects along Bedok Reservoir, Waterfront Waves and Waterfront Keys.
Allgreen Properties is also believed to have sold a total 62 units from its preview of Holland Residences last week. The average price is $1,625 psf.
CB Richard Ellis executive director (residential) Joseph Tan says: ‘Generally, buyers are showing more interest and there’s acceptance that prices have bottomed out with a strong likelihood of growth. Developers in their pricing policy should also leave room for capital appreciation for investors.’
A Morgan Stanley report dated Jan 27, on a survey of the Singapore private residential sector involving Singapore-based respondents, concluded that, generally, respondents are expecting prices to trend upwards gradually in the medium term rather than spiking in the next 12 months.
As for developers, DTZ executive director Ong Choon Fah says: ‘When there’s a window of opportunity like what we’re seeing now, developers want to capitalise on it and try to push out projects as soon as possible; they can always restock land at government tenders.
‘After all, most economists are still calling for a note of caution on the sustainability of the global economic economy – for instance, if interest rates rise and as governments withdraw their stimulus measures.’
Nëw hïgh for The Floravale EC in District 22 and Lilydale EC in District 27 too.
If only I have bought any one of or both of them!
OK, enough highs from the ECs. Let's turn our attention back to the CCR.
One Jervois in District 10 has a nëw hïgh at $1,600 psf!
Someone claimed he can buy around $1,000 psf. He must be one lucky guy smiling to the bank now!
Yes, you are right! Beautiful, isn't it?
A nëw hïgh for One Jervois at $1,600 psf!
One Jervois
Address ....................... psf .............. Area .......... Price ............ Contract Date
9 Jervois Close #11-17..... $1,600 psf.... 1,281 sqft.... $2,049,000 .... 14 Jan 10
Yes, you are right!
Double Bay Residences actually breaks its high of $898 psf with a nëw hïgh of $966 psf via subsale!
Amazing, isn't it?
Double Bay Residences
Address .......................... psf ............ Area ......... Price ......... Contract Date
19 Simei Street 4 #06-19 .... $966 psf .... 538 sqft .... $520,000 .... 17 Dec 09
19 Simei Street 4 #06-19 .... $833 psf ..... 538 sqft .... $448,000 .... 26 Mar 09
Double Bay Residences in District 18 has a nëw hïgh - $966 psf - too!
OJ is resale while DBR is subsale.
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Robust growth in manufacturing
Robin Chan
The Straits Times
Tuesday, 2 February 2010, 9.01 pm
http://www.straitstimes.com/STI/STIMEDIA/image/20100126/ST_14640844.jpg
Electronics production climbed 57.3% last month from a year earlier, following a revised 13.9% gain in November. Electronics make up about 26% of total manufacturing output. -- Photo: NEC
Experts have been stunned by the strength of Singapore's factory output in December after an electrifying performance by the electronics sector.
After disappointing figures in October and November, output surged 14.4% in December from the same month in 2008, powered by a spectacular 57.3% rise in electronics.
The signs for a good month had been duly noted by experts: stronger leading indicators and better trade numbers.
But even upbeat economists could not anticipate the fastest pace of growth from the manufacturing sector in 5 months - nearly double their expectations of a 7.4% increase.
With the strong numbers in manufacturing, which contributes about a quarter to the economy, economists now expect an upward revision to Singapore's full year economic forecast for 2009.
The Government's advance estimate is for a contraction of 2.1%.
proud owner
02-02-10, 23:21
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Robust growth in manufacturing
Robin Chan
The Straits Times
Tuesday, 2 February 2010, 9.01 pm
http://www.straitstimes.com/STI/STIMEDIA/image/20100126/ST_14640844.jpg
Electronics production climbed 57.3% last month from a year earlier, following a revised 13.9% gain in November. Electronics make up about 26% of total manufacturing output. -- Photo: NEC
Experts have been stunned by the strength of Singapore's factory output in December after an electrifying performance by the electronics sector.
After disappointing figures in October and November, output surged 14.4% in December from the same month in 2008, powered by a spectacular 57.3% rise in electronics.
The signs for a good month had been duly noted by experts: stronger leading indicators and better trade numbers.
But even upbeat economists could not anticipate the fastest pace of growth from the manufacturing sector in 5 months - nearly double their expectations of a 7.4% increase.
With the strong numbers in manufacturing, which contributes about a quarter to the economy, economists now expect an upward revision to Singapore's full year economic forecast for 2009.
The Government's advance estimate is for a contraction of 2.1%.
precisely ...
if everyone has a low estimate .. anything above it becomes ROBUST ?
Forget about $2,800 psf.
The Tate Residences has found a nëw hïgh in $2,946 psf!
The Tate Residences
Address ............................ psf ................ Area ........... Price ............ Contract Date
21 Claymore Road #27-01 ..... $2,946 psf ..... 2,207 sqft .... $6,500,000 ..... 11 Jan 10
OK. Back to District 9 now and this time is The Tate Residences with a nëw hïgh of $2,946 psf!
Business Times - 03 Feb 2010
Property industry loses towering figure
http://www.businesstimes.com.sg/mnt/media/image/launched/2010-02-03/BT_IMAGES_KRNGOBIT3-W8B.jpg
Ng Teng Fong of Far East Organization group dies, aged 82
(SINGAPORE) Property tycoon Ng Teng Fong's passing yesterday marks the end of an era of larger-than-life property titans.
He was one of the earliest to develop shopping centres on Orchard Road and until today, his Far East Organization group here is probably the largest property owner in the island's prime shopping belt. In Hong Kong, he made inroads into one of the world's most competitive property markets, battling local tycoons to establish his Sino Group as one of the biggest developers there.
Market players yesterday recalled the tenacity and resilience of a man who rose from humble beginnings to build a property empire over the past five decades, bouncing back from setbacks along the way, especially the mid-1980s property slump.
Today, Far East Organization and sister outfit Sino Group have a combined annual turnover of US$5.5 billion and total assets of over US$40 billion, according to information on Far East's website. Last September, the Forbes Asia magazine ranked the late Mr Ng as Singapore's richest person, with a fortune said to be US$8 billion (S$11.3 billion).
The 82-year-old suffered a brain haemorrhage on Jan 23 and underwent an operation before he died peacefully yesterday morning, a statement from Far East Organization said. He leaves behind his wife and eight children.
While Mr Ng still kept a keen interest in his business until recently - including determining prices of property launches and land bids - he had handed over the running of his business empire some time ago to his two sons. Elder son Robert is in charge of Sino Group in Hong Kong and younger son Philip oversees the Far East Organization group in Singapore.
Philip Ng, who holds degrees in civil and geotechnical engineering as well as city planning, has over the past decade or so spruced up the company in Singapore and hired many professionals. The group has developed many award-winning buildings.
Mr Ng's wake is being held at Ng's Mansion at 2 Watten Estate, with a nightly service at 8pm. The funeral will be on Saturday.
Many in property circles yesterday mourned the loss of Mr Ng, who they said, together with Kwek Hong Png, the late founder of the Hong Leong Group, was the pioneer of the private property market in Singapore. Mr Kwek died in 1994. His elder son Leng Beng yesterday said Mr Ng's passing was 'an immense loss for the industry and for Singapore'.
'He was a doyen of the property sector. He was a proven authority with a deep understanding of real estate and an innate talent of looking at the property market in a different way.'
United Overseas Bank Group chairman Wee Cho Yaw described Mr Ng as 'an old friend of more than 50 years' who had 'an intuitive flair for reading property cycles'.
CapitaLand Group president and CEO Liew Mun Leong highlighted Mr Ng's successful entry into Hong Kong, 'a very mature and competitive market, decades ahead of others in Singapore'.
'Even the largest property companies in Hong Kong take their hats off to his company in Hong Kong, where it enjoys a high standing,' Mr Liew added.
Redas president Simon Cheong said no other foreign player has entered the Hong Kong market like Mr Ng did. He said Mr Ng's 'master stroke' in Tsim Sha Tsui a few decades ago, mopping up a whole stretch of properties in the district, 'is still being talked about among market players today'.
Mr Ng entered the Hong Kong property market in the 1970s and continued to build his business there in the early 1980s when confidence in Hong Kong was shaken due to disputes on its future between the British government and China.
Admiring the late Mr Ng's acumen, Redas CEO Steven Choo said: 'He saw the enormous prospects for real estate in land-scarce prosperous cities like Singapore and Hong Kong. In Singapore, one of his most enduring legacies is that he laid down the foundation for Singapore's modern shopping street - Orchard Road. We can see the Far East emblem everywhere in Orchard/Scotts roads. Some of his projects were visionary at the time.'
Dr Choo noted that 'Far East has also helped establish condominium living in Singapore, through its continued participation in Government Land Sale tenders'.
Copyright © 2010 Singapore Press Holdings Ltd. All rights reserved.
Regulators
03-02-10, 08:46
i wonder how those that have been ripped off by FEO all these would feel about Mr Ng's demise
If going-to-be-24-year-old Yong An Park can hit a nëw hïgh of $1,422 psf, surely new Centennia Suites can hit a high of $2,844 psf (double) and an average of $2,142 psf (number swap). :D
Results will be revealed soon. (Drum roll ...)
Yong An Park
Address ................................ psf ............... Area ........... Price ............ Contract Date
333 River Valley Road #04-03 ..... $1,422 psf .... 2,250 sqft .... $3,200,000 ..... 3 Nov 09
Wow! Even going-to-be-24-year-old Yong An Park in District 9 can hit a nëw hïgh of $1,422 psf!
Genting casino will be open this weeks. They just got the casino License.
The Genting casino VIP Room will be opening on this weekends (4, 5 or 6 February 2010).
Is this kidding or for real?
Is this kidding or for real?
so good.. how to get into VIP room?
I emailed them about the Premium player status coz maybe can use the rewards points to redeem food vouchers and hotel stay without spending a dime. They told me wait my turn ..... and stay tune to their newsletter...
Think only property_owner can enlightened us .. ;)
so good.. how to get into VIP room?
I emailed them about the Premium player status coz maybe can use the rewards points to redeem food vouchers and hotel stay without spending a dime. They told me wait my turn ..... and stay tune to their newsletter...
Think only property_owner can enlightened us .. ;)
Have you bought your landed property yet?
Quickly buy it!
Otherwise your $6.8 million cash's going to disappear into the casino VIP room. :scared-3:
That's another advantage of buying a property. It prevents your money from being sucked up by these casinos. :scared-3:
Have you bought your landed property yet?
Quickly buy it!
Otherwise your $6.8 million cash's going to disappear into the casino VIP room. :scared-3:
That's another advantage of buying a property. It prevents your money from being sucked up by these casinos. :scared-3:
Haha.. i hope I won't be that dumb to do that... (the casino I mean)..
But i'm already playing the largest casino in the world.. stock market.. very exciting! :P
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Top selling private properties in January
AsiaOne
Thursday, 4 February 2010
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For the month of January, Far East Organization is believed to have been the top seller, with sales of close to 300 units. Its bestseller was The Shore Residences, a 103-year-old condominium project on the former Rose Garden site in Katong. Far East is understood to have sold over 140 units in the project last month. - Photo: FEO
For the month of January, Far East Organization (FEO) is believed to have been the top seller, with sales of close to 300 units.
CB Richard Ellis executive director (residential) Joseph Tan says: 'Generally, buyers are showing more interest and there's acceptance that prices have bottomed out with a strong likelihood of growth. Developers in their pricing policy should also leave room for capital appreciation for investors.'
http://www.asiaone.com/static/business/030210_topprprtyjan/images/pic2.jpg
City Developments sold 243 units in January, the bulk of which were in Cube 8 at Thomson Road (167 units). -- Photo: CDL
http://www.asiaone.com/static/business/030210_topprprtyjan/images/pic3.jpg
City Developments sold the rest in Livia in Pasir Ris (59 units). -- Photo: CDL
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Fellow property giant CapitaLand also did brisk sales. Its 165-unit Urban Suites condo in the Cairnhill area is said to be left with fewer than 30 units. -- Photo: CapitaLand
http://www.asiaone.com/static/business/030210_topprprtyjan/images/pic5.jpg
Frasers Centrepoint sold a total 102 units last month, including 43 units at its Residences Botanique in the Yio Chu Kang/Sirat roads area. -- Photo: Frasers Centrepoint
http://www.asiaone.com/static/business/030210_topprprtyjan/images/pic8.jpg
Allgreen Properties is also believed to have sold a total 62 units from its preview of Holland Residences last week. The average price is $1,625 psf. -- Photo: CBRE
Property market Prosperous = Casino Prosperous = Electrion Soon
Property Market Fall = Casino Effected = Economy Effected = Government Effected.
Property_Owner
04-02-10, 11:55
so good.. how to get into VIP room?
I emailed them about the Premium player status coz maybe can use the rewards points to redeem food vouchers and hotel stay without spending a dime. They told me wait my turn ..... and stay tune to their newsletter...
Think only property_owner can enlightened us .. ;)
They had invited me already. I'm still thinking.
i wonder how those that have been ripped off by FEO all these would feel about Mr Ng's demise
willing seller willing buyer, cannot say rip off lah LOL
Regulators
04-02-10, 13:42
The feeling of getting ripped off usually comes after the sale. :D
willing seller willing buyer, cannot say rip off lah LOL
They had invited me already. I'm still thinking.
:) I knew it! Maybe can long-pang a few of us into the VIP room for us to experience the feeling of being a VIP:)
Property_Owner
04-02-10, 14:15
:) I knew it! Maybe can long-pang a few of us into the VIP room for us to experience the feeling of being a VIP:)
First of all wifey got to give the green light. I got into trouble with her after blowing a R8 2 years back @ Skycity. :doh:
First of all wifey got to give the green light. I got into trouble with her after blowing a R8 2 years back @ Skycity. :doh:
hehe.. but if your passive income is > than a R8.. what is the problem :)
Anyway, it's a happy problem to be getting into.. blowing an R8 and only the wife nags... It shows your moola is strong..
so good.. how to get into VIP room?
I emailed them about the Premium player status coz maybe can use the rewards points to redeem food vouchers and hotel stay without spending a dime. They told me wait my turn ..... and stay tune to their newsletter...
Think only property_owner can enlightened us .. ;)
They had invited me already. I'm still thinking.
Better decline! :scared-4: Your 40+ properties are in danger! :scared-3:
:) I knew it! Maybe can long-pang a few of us into the VIP room for us to experience the feeling of being a VIP:)
First of all wifey got to give the green light. I got into trouble with her after blowing a R8 2 years back @ Skycity. :doh:hehe.. but if your passive income is > than a R8.. what is the problem :)
Anyway, it's a happy problem to be getting into.. blowing an R8 and only the wife nags... It shows your moola is strong..
What "passive income"? :confused:
Property_Owner, although old, is still running his business and thinking of selling toothpaste to China market.
Unlike you, only 36, already retired after making so much money.
i wonder how those that have been ripped off by FEO all these would feel about Mr Ng's demisewilling seller willing buyer, cannot say rip off lah LOLThe feeling of getting ripped off usually comes after the sale. :D
I'm quite sure the 72 buyers of terrace houses at Jalan Pacheli below won't feel "ripped off". :p
Talking about our beloved property developers who have given us so much money over the past few decades, let's pay tribute to Mr. Ng who developed 72 terrace houses at Jalan Pacheli in 1962.
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Business Times - 03 Feb 2010
OBITUARY: NG TENG FONG
Mr Ng's first property project back in 1962 was a 72-unit terrace housing development at Jalan Pachelli in the Serangoon Gardens area.
The Straits Times - 3 Feb 2010
By 1962, he had saved enough money to develop a small housing estate behind Serangoon Gardens - 72 single-storey terrace houses which he sold at $20,000 apiece. :scared-4:
9 May 2007
25B Jalan Pacheli transacted $1,920,000 apiece. :scared-4:
Each household had benefited $1,900,000 apiece. :scared-4:
(By the way, the total he collected from the 72 terrace houses at $20,000 apiece was only $1,440,000, which was even less the price of one terrace house today).
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Sengkang site draws top bid of 365psf from CDL!!!
This is even higher than the MCL Land's Yishun site of 350psf with just a lousy LRT station and view of Sungai Punggol :cheers1:
Sengkang site draws top bid of 365psf from CDL!!!
This is even higher than the MCL Land's Yishun site of 350psf with just a lousy LRT station and view of Sungai Punggol :cheers1:
The Predictions
Ngee Ann Polytechnic real estate lecturer Nicholas Mak expects three to seven bids for the site, and reckons that the top few bids will be in the region of $260-$300 psf per plot ratio.
Peter Ow, Knight Frank’s executive director for residential, is more bullish – he expects the winning bid to be in the region of $370-$420 psf per plot ratio. He also feels that the site will receive ‘more than a few’ bids. :confused:
The Facts
Business Times - 04 Feb 2010
Update: CDL tops tender for Sengkang private condo plot with bid of $365.26 psf ppr
By KALPANA RASHIWALA
A subsidiary of City Developments has placed the top bid at a state tender for a 99-year leasehold private condominium site at Sengkang West Avenue/Fernvale Link.
The top bid is $200.5 million or $365.26 per square foot of potential gross floor area. The tender drew a total 10 bids. :scared-4:
The Conclusion
The final bid does not lie within the range of any prediction. :p
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Record 6.2M visited Sentosa in 2009
The Straits Times
Thursday, 4 February 2010, 5.12 pm
http://www.straitstimes.com/STI/STIMEDIA/image/20100204/sg-zoukout.jpg
Popular events like ZoukOut and the Siloso Beach Party registered bigger turnouts and school holidays saw more guests turning up. -- Photo: Samuel He, ST
Despite the economic downturn, the resort-island of Sentosa drew a record number of 6.2 million visitors last year, pushing the annual guest arrivals up by 50% from 2003.
December was also its best month, with 652,000 visitors into the island, which Sentosa Development Corporation (SDC) attributed to 'the return of positive sentiment to Singapore's tourism industry and the recovery of the global economy.'
The number of domestic and international tourists to the island for December grew 4% and 7% respectively, from the previous year. Popular events like ZoukOut and the Siloso Beach Party registered bigger turnouts and school holidays saw more guests turning up.
SDC chief executive officer Mike Barclay said on Thursday: 'We are very pleased that we ended the year on a positive note and head steady during the challenging months of the downturn.'
He expects visitors to the island to more than double this year, with the opening of Resorts World at Sentosa (RWS).
With the addition of RWS, Sentosa will be home to more than 240 attractions, restaurants, beach bars, hotels, spas and retail outlets.
Wow!
Going-7-year-old Compass Heights has a nëw hïgh of $899 psf!
Unbelievable!
Compass Heights
Address ............................. psf ............. Area ........ Price .......... Contract Date
9 Sengkang Square #11-02 ..... $899 psf ..... 667 sqft .... $600,000 ..... 9 Jan 10
No wonder CDL's Sunmaster dare to go for a breakeven of around $750 psf for the new Sengkang land parcel.
If going-7-year-old Compass Heights in District-19 Sengkang can hit nëw hïgh of $899 psf, why should CDL not able to hit high of $1,199 psf with the new Sengkang site?
Congrats to all here in this thread who are keen in Shanghai One. Your patience has paid off. Your development has just hit a hïgh of $1,257 psf!
Shanghai One
Address ......................... psf .............. Area ......... Price ............ Contract Date
1 Shanghai Road #05-01 .... $1,257 psf ... 1,066 psf .... $,1340,000 .... 14 Jan 10
1 Shanghai Road #05-03 .... $1,210 psf ....... 883 psf .... $1,068,000 ..... 4 Dec 09
Shanghai One in District 10 has hit a hïgh of $1,257 psf!
Someone claimed he can buy around $1,000 psf. He must be another lucky guy smiling to the bank now!
Regulators
05-02-10, 00:14
You should take a shot of the stretch of petrochemical plants in Pasir Gudang with the thick smoke spewing over to Singapore...
http://www.h88.com.sg/images/content/2009-12-28/sengkang_birdeye.jpg
Sengkang site draws top bid of 365psf from CDL!!!
This is even higher than the MCL Land's Yishun site of 350psf with just a lousy LRT station and view of Sungai Punggol :cheers1:
http://www.h88.com.sg/images/content/2009-12-28/sengkang_birdeye.jpg
Sengkang site draws top bid of 365psf from CDL!!!
This is even higher than the MCL Land's Yishun site of 350psf with just a lousy LRT station and view of Sungai Punggol :cheers1:
I thought you were joking that the LRT station in the above picture is "Lao Yar" (i.e. lousy). :scared-4:
But I checked the map, there is actually a Layar LRT station. :scared-4:
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No U-turn in foreigner policy: SM Goh
Jeremy Au Yong
Political Correspondent
The Straits Times
Manama, Bahrain
Friday, 5 February 2010
The Government's recent moves to slow the influx of foreigners do not mark a 'sudden turnaround' in policy, said Senior Minister Goh Chok Tong yesterday.
Rather, it is simply a recognition that the country is nearing what it can accommodate. While foreign worker numbers may still rise, it will now grow more slowly.
Speaking to Singapore reporters in Bahrain at the end of a six-day visit to the Middle East, SM Goh explained that Singapore needed to be open to foreign workers in the past to fuel its rapid growth.
'If you look at the last decade, we wanted to grow fast. And there were opportunities to grow fast. Employers were crying for workers. We were trying to tighten the dependency on foreign workers, but the demand for goods and services from Singapore was high, so we liberalised. Then once we reach the limit, you've got to tighten,' he said.
The Government, he said, constantly monitors its policies and tweaks them where needed.
'Past models which have worked may not work in the future, so we've got to constantly monitor, adjust when necessary, sometimes even discard. But in our case it's modifying the model, not discarding the old model,' he said.
SM Goh also made it a point to stress that striking the right balance was just one aspect of the foreign-local issue. Permanent residents were another major part.
He said the Government was reviewing the PR scheme to try and make sure foreigners do not exploit it: 'If you want to come to Singapore, decide to be a PR, the logical conclusion must be Singapore citizenship. Do your fair share contributing as Singapore citizens.'
The balance between foreigners and locals in Singapore has been a key focus of the Government in recent years, and this week's Economic Strategies Committee (ESC) report also addresses the issue.
For instance, it suggests increasing productivity to reduce the dependence on foreign labour.
Speaking about the report, SM Goh noted that increasing productivity had been a focus as far back as 1978, when it prescribed high wages for locals as a way to boost productivity.
This time around - though the aim is largely the same - there is an additional weapon: the foreign worker levy.
'Unlike 1978 when we raised wages of our local population by a very high margin, this time you can calibrate the increase in prices through the foreign worker levy,' he said.
This was not a case of going out just to cut foreign worker numbers, but rather to 'price them more correctly'.
Said SM Goh: 'When you price the foreign levy at a more correct rate, then the market will decide what industries can still be in Singapore paying this price of levy.'
However, he said it would be a challenge doing this at the right pace, without putting off too many: 'If you overdo it, at too fast a pace, for example, and too many companies cannot cope with the higher cost of production, you may end up with a mild recession. If you are not careful at all, you can end up with a deep recession.'
Fortunately, he said, Singapore can draw from past lessons: 'We have the advantage of the 1978 experience in using prices to raise productivity and of course the advantage of knowing how far you can go and how fast you can go.'
To the Senior Minister, both 1978 and 2010 will mark 'turning points' in Singapore's economy. In fact, he described this year as a turning point for many countries, as they have to work out their next move after the financial crisis.
SM Goh concluded his visit to Oman and Bahrain yesterday, a trip which helped to deepen bilateral ties with both nations.
He said that as Senior Minister, he saw his role as trying to help Singapore expand its economic and political space.
Since stepping down as prime minister in 2004, SM Goh has been at the heart of Singapore's push into the Middle East. The country now has substantial business ties with many countries in the region, and has signed a free trade agreement with the six-nation grouping known as the Gulf Cooperation Council.
Mr Goh arrives back in Singapore today.
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“今年上半年由政府发售的第一幅私宅地段，获得市场良好反应，显示发展商对大众化私宅市场(mass market)依然有信心，并继续寻找填补土地库存的机会。”
— 郑惠匀
... 研究与咨询部主管
... 高力国际
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Chuan Park condo hits a high of $800 psf
The Edge
Friday, 25 January 2010
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Chuan Park
A Singaporean who only wants to be known as Mr Tan put his 3-bedroom, 1,528 sqft unit at Chuan Park condominium on Lorong Chuan for sale a month ago. Within a day, he found a buyer who was willing to pay his asking price of $980,000, or $641 psf.
“We sold because the price reached our expectations,” he says in a phone interview. “The property may be old, but it is well-maintained. Rental demand is healthy, given the proximity to good schools and the Australian International School. There is potential for en-bloc sale and the location is wonderful — right next door to the MRT station.”
For the period from Jan 4 to 8, there were three transactions at the 452-unit Chuan Park, at prices from $690 to $800 psf. On Jan 5, a 710 sqft studio apartment on the 2nd floor was sold for $568,000, or $800 psf. The owner had purchased it for $450,000 in 2007, thus enjoying a 26% price appreciation in just 2 years.
Another studio apartment on the 4th floor went for $520,000, or $732 psf. The owner had purchased it for $458,000, or $645 psf, in 1995. This represents a gain of 13.5%. The previous owner had bought it for $395,000 in the same year, thus enjoying a gain of 16%.
Excitement is mounting in the Serangoon Gardens Estate in the vicinity of Lorong Chuan and Serangoon Avenue 3 as the Circle Line nears completion and another 11 new MRT stations from Tai Seng to Dhoby Ghaut open in April. The Lorong Chuan MRT station opened last May.
Good schools like Nanyang Junior College and St Gabriel’s Primary School as well as the Australian International School have also attracted families with schoolgoing children and investors to Chuan Park. The condo is a short distance from the New Tech Park and one stop away from the Serangoon MRT station, where a new mall called nex is coming up.
What’s also fuelling optimism among investors and owners of existing condos looking to sell is Hong Leong Holdings’ 400-unit condo that is expected to be launched in the coming months. Hong Leong was awarded the 99-year leasehold site on Serangoon Avenue 3 last October with a top bid of $221 million, or $529 psf of gross floor area, which was 164% above the reserve price. Property consultants have estimated that the breakeven price for the project is likely to be $900 to $950 psf. They expect the new condo to be priced above $1,000 psf.
Fred Teo, a property agent at Knight Frank, says these 2 factors are the main reasons driving increased demand at Chuan Park. He notes that prices in the 26-year-old, 99-year leasehold condo have risen from around $500 psf last April to $700 psf in recent months. The launch of the new project by Hong Leong would probably lift prices higher, says Teo.
Opposite Chuan Park are two 99-year leasehold condos: 372-unit, 11-year-old The Springbloom and 500-unit 15-year-old Chiltern Park. Prices in those two projects have also been creeping up. On Jan 6, an 893 sqft unit at The Springbloom was sold for $650,000, or $728 psf.
At Chiltern Park, a 915 sqft unit was sold for $660,000, or $721 psf, according to a caveat lodged with URA Realis on Jan 6. At the Jones Lang LaSalle property auction on Jan 20, a second-floor, 1,518 sqft apartment at Chiltern Park was put up for mortgagee sale with an opening price of $980,000. A few parties bid for the property, which was sold for $1.015 million, or $669 psf.
With the Circle Line nearing completion and Hong Leong’s new condo launch in the offing, it looks like interest in condos in the Lorong Chuan and Serangoon Avenue 3 neighbourhood will intensify in the coming months.
New high for The Axis. D11/12 fringe all the rage now.
Address Tenure PSF Area Sqft Price Contract Date
47 Mandalay Road #11-04 Freehold $1343 398 $535k 11 Jan 10
Wah!
Even The Axis can hit a nëw hïgh of $1,343 psf!
http://www.theedgesingapore.com/images/logo_s.png
Chuan Park condo hits a high of $800 psf
The Edge
Friday, 25 January 2010
Wah!
Even The Axis can hit a nëw hïgh of $1,343 psf!
All these prices hitting new highs are illusions.
It's simply the effect of paper money hitting new lows.
“The modern banking process manufactures currency out of nothing.”.
- Lord Josiah Stemp, Former Director of the Bank of England (1937)
“At the end fiat money returns to its inner value—zero.”
- Voltaire (21 November 1694 – 30 May 1778)
Propertism Rule No. 1 - Properties should only be bought. Not sold.
Can you imagine? This is a period when the world economy is sick. The US is mired in recession. European nations are going burst one by one.
Yet all these properties are "hitting new highs". :scared-4:
Ladies and Gentlemen, can you now take a deep breath and imagine what will happen if one day you see this news headline?
US Economy Overheating
Real Estate hit New Highs for 13th Consecutive Year
FED Raised Funds Rate to 24.5% to temper runaway inflation:scared-4:
You are going to see these ads:
D9. SIX LUXURIOUS CONDOS
2,000 sq ft to 4,000 sq ft.
Claymore/ Cairnhill/ River Valley.
Asking $300M to $500M
per unit neg. Call Reporter. :scared-4:
THE SAIL@ MARINA BAY
3 bedrooms, 1184 sq ft.
Asking $296M neg.
Call gfoo :scared-4:
40+ PROPERTIES
for sale by retiring
Property_Owner.
Lump sum $12 B.
Not negotiable.
Call Property_Owner :scared-4:
SPREADSHEET OF PROPERTIES.
Only the spreadsheet for sale.
Not the properties. Call jlrx. :p
Another $1M HDB asking spotted! :scared-1::scared-1:
S$ 999,000 Negotiable | 3 beds | HDB Type 5I
1,237 sqft / 115 sqm | S$ 807.60 psf (built-in) (http://www.propertyguru.com.sg/listing/861831/for-sale-telok-blangah-heights)
For SALE - Blk85 Telok Blangah Heights
Prime area
Move in condition!!
Near amenities (http://www.propertyguru.com.sg/listing/861831/for-sale-telok-blangah-heights)
http://i2.propertyguru.com.sg/images/thumb/e/a/4/0/ea408e379168_1_V550.jpg
The $1M HDB becoming a reality earlier than expected? :scared-1:
S$ 990,000 Negotiable | 3 beds | HDB Type 5A
1,313 sqft / 122 sqm | S$ 754.00 psf (built-in) (http://www.propertyguru.com.sg/listing/847157/for-sale-marine-terrace)
For SALE-5 room point block, Marine Terrace
High floor, panoramic seaview!! (http://www.propertyguru.com.sg/listing/847157/for-sale-marine-terrace)
http://i2.propertyguru.com.sg/images/thumb/f/9/d/0/f9d01a1257415_1_V550.jpg
Another $1M HDB asking spotted! :scared-1::scared-1:
S$ 999,000 Negotiable | 3 beds | HDB Type 5I
1,237 sqft / 115 sqm | S$ 807.60 psf (built-in) (http://www.propertyguru.com.sg/listing/861831/for-sale-telok-blangah-heights)
For SALE - Blk85 Telok Blangah Heights
Prime area
Move in condition!!
Near amenities (http://www.propertyguru.com.sg/listing/861831/for-sale-telok-blangah-heights)
http://i2.propertyguru.com.sg/images/thumb/e/a/4/0/ea408e379168_1_V550.jpg
Just like your last asking in Marine Terrace, some people are a little unhappy with your new asking in Telok Blangah Heights which is $9k more leh.
Another old 5-room resale HDB flat in Telok Blangah asking for nearly S$1M
Correspondent
Temasek Review
Monday, 8 February 2010
Three days ago, we put up an advertisement of a 5-room HDB flat in Marine Parade selling for an eye-popping S$990,000.
Now we have another 5-room flat in Telok Blangah asking for S$999,000, $9,000 more than the earlier flat:
http://www.temasekreview.com/wp-content/themes/church_10/images/thumbnails/telokblangah585.jpg
From the photos above, the flat appears to be situated in an older part of Telok Blangah and is at least 30 years old which means that it has at most 60 – 70 years left on its lease since all HDB flats are 99-year old properties.
The exorbitant prices asked by some property agents is a sign that the red-hot public housing market has got completely out of control.
The prices of resale flats increased by 8.2 per cent in 2009 when Singapore was mired in recession with Cash-Over-Valuation (COVs) doubling from $12,000 to $24,000 in the last three months:
http://www.temasekreview.com/wp-content/uploads/2010/01/hdbresale2009.jpg
The sky-rocketing prices are fueled largely by limited number of flats built between the years 2006 – 2008 coupled with the large influx of foreigners into Singapore during the same period of time.
Only 3,183 new flats were built in 2008 when there were over 90,000 PRs and 20,000 new citizens in the same year:
http://www.temasekreview.com/wp-content/uploads/2009/11/hdbfy01.jpg
..........
..........
Regulators
08-02-10, 11:59
These people asking 990k for their old flats are wasting their time advertising. the million dollar flats will only be seen in Pinnacle and Dawson Estate
'Only 3,183 new flats were built in 2008 when there were over 90,000 PRs and 20,000 new citizens in the same year'
and 2010 will be the year where 30,000 new flats will be built and the number of PRs and new citizens plunging with more stringent rules in place.
HDB prices by 2012 will plunge based on dd/ss, and without that base mass market will follow suit. one can only hope that the rest of the property market won't follow suit but i doubt it.
Then the cries in the papers and ST Forum won't be how expensive property is, but to help citizens find gainful employment, and to provide handouts older folks.
'Only 3,183 new flats were built in 2008 when there were over 90,000 PRs and 20,000 new citizens in the same year'
and 2010 will be the year where 30,000 new flats will be built and the number of PRs and new citizens plunging with more stringent rules in place.
HDB prices by 2012 will plunge based on dd/ss, and without that base mass market will follow suit. one can only hope that the rest of the property market won't follow suit but i doubt it.
Then the cries in the papers and ST Forum won't be how expensive property is, but to help citizens find gainful employment, and to provide handouts older folks.
that's election talk... can easily renege once election over ;)
Latest from a showroom...
A korean whom are here for holiday bought a unit in
The Shore
#19-08
915 sq ft
$1,302,819
$1423 psf
Another one
#20-08
915 sq ft
$1,314,176
$1436 psf
So The Shore Residences has hit a nëw hïgh of $1,436 psf?
This is good for Katong, isn't it?
103-LH The Shore Residences in RCR-District-15 Katong has hit a nëw hïgh of $1,436 psf just in time for RWS opening this weekends and the CNY eve.
This will surely create the festive mood for everyone. Agree?
The question now is whether 99-LH Silversea break its current high of $1,780 psf to welcome the RWS rollers this weekends. Let's hope so.
$3,05x psf?
Wow!
Higher than 30-November-2009 $3,000 psf by $5x psf?
..........
..........
Oops!
Somebody is ahead of Silversea in the queue for RWS opening this weekends.
In just a short 3 weeks duration, that figure for The Sail at Marina Bay has changed from $3,05x psf to $3,205 psf!
Amazing, isn't it?
We know how you feel. Wait for 1 month and see URA data. 3,205 psf. Just confirm with my agent. 5x-05 (above 55th). That is the truth. No need to rebut. Numbers talk the loudest :banana:
Oops!
Somebody is ahead of Silversea in the queue for RWS opening this weekends.
In just a short 3 weeks duration, that figure for The Sail at Marina Bay has changed from $3,05x psf to $3,205 psf!
Amazing, isn't it?
I think we were wrong. :scared-3:
The price has broken out! :scared-4:
2010 is not a repeat of 2007. :scared-3:
I have a feeling .... we are on the threshold of another 1990. :scared-4:
See the pink graph below reproduced from 1990 to 1996. :scared-3:
http://i305.photobucket.com/albums/nn211/jlrx_bucket/PropertyPrice1993To2009WithWay.jpg
And there is "Not much govt can do".
http://i305.photobucket.com/albums/nn211/jlrx_bucket/PMGohChokTongSaidNotMuchGovtCanDo.jpg
http://www.sph.com.sg/images/logo_shinmin.png
Nicole Kidman's sister is migrating to Singapore, but she fails to enrol her children in an international school here as she is not married to her boyfriend
新明日报
星期二, 9-2-2010
I think we were wrong. :scared-3:
The price has broken out! :scared-4:
2010 is not a repeat of 2007. :scared-3:
I have a feeling .... we are on the threshold of another 1990. :scared-4:
See the pink graph below reproduced from 1990 to 1996. :scared-3:
..........
..........
And there is "Not much govt can do".
http://i305.photobucket.com/albums/nn211/jlrx_bucket/PMGohChokTongSaidNotMuchGovtCanDo.jpg
Maybe you are right that we were wrong - wrong to predict a repeat of 2007 rather than 1990.
Anyway, District-9 The Cosmopolitan is now $1,915 psf!
Another one queuing for RWS opening this weekends.
Yes, agree with you Condorich.
Just look at how The Cosmopolitan has changed.
It has just hit $1,900 psf!
Incredible, isn't it?
..........
..........It's amazing how fast thing can change! In just a 1-month duration, this news is now outdated.
The figure for The Cosmopolitan is now $1,915 psf!
The Cosmopolitan
Address ............................ psf ............... Area .......... Price ........... Contract Date
200 Kim Seng Road #25-01 .... $1,915 psf .... 1,399 sqft ... $2,680,000 .... 8 Jan 09
2 months have gone and this figure is now outdated.
The new figure is $1,784 psf!
The Pier At Robertson
Address .................................... psf ............... Area ........ Price ............ Contract Date
80 Mohamed Sultan Road #10-04 .... $1,784 psf .... 678 sqft .... $1,210,000 .... 14 Jan 10
Oh! The Pier At Robertson, another District 9, is rushing to RWS Casino opening with $1,784 psf!
City Square Residences has a nëw hïgh of $1,297 psf!
City Square Residences
Address ........................ psf ............... Area ........ Price ......... Contract Date
6 Kitchener Link #26-07 .... $1,297 psf .... 570 sqft .... $740,000 .... 19 Jan 10
With a nëw hïgh of $1,297 psf, District-8 City Square Residences is also eyeing RWS Casino opening this weekends.
With a nëw hïgh of $1,297 psf, District-8 City Square Residences is also eyeing RWS Casino opening this weekends.
Impossible!!! :tsk-tsk:
How can City Square Residences hit $1,297 psf??? :scared-4:
Singapore's property market is supposed to crash when mass market condos go above $600 psf !!!
The evolution of supply and demand of real estate in the country
Prepared by Sam Gian, Independent Real Estate Sales Consultant. Article was first published in the Singapore Property Market Review, April 2009.
The Singapore property market has come a long way since the last market bull-run in 1994/95 period where ‘S$600 per sq ft’ was the ‘point of resistance’ for mass market condos. In fact, in 1996, the market crashed when the per sq ft price for many mass market condos breached the S$600 per sq ft level.
http://i305.photobucket.com/albums/nn211/jlrx_bucket/PMGohChokTongSaidNotMuchGovtCanDo.jpg
Don't forget that in 1994, $600 per sq ft prices were so high that even Goh Chok Tong said "I will find it difficult to pay these prices myself". :scared-3:
I think you better check your figure. It should be $129.7 psf and not $1297 psf.
Singapore mass market property prices cannot go above $600 psf otherwise it will crash.
Congratulations!
Ardmore II has just hit a hïgh of $2,751 psf!
Ardmore II
Address ....................... psf .............. Area .......... Price ............ Contract Date
1 Ardmore Park #24-01 .... $2,751 psf ... 2,024 psf .... $5,566,000 .... 13 Jan 10
Now that the Universal Studio is delayed, will RWS Casino still open this weekends?
Many projects have been lining up with nëw hïgh for its opening. The latest being District-10 Ardmore II with $2,751 psf.
Please don't disappoint them.
Newton One has just hit a nëw hïgh of $1,730 psf!
This time, it is not a little bit above $1,500 psf.
Newton One
Address ....................... psf .............. Area ......... Price ............ Contract Date
1 Newton Road #15-03 .... $1,730 psf ... 1,216 psf .... $2,103,000 .... 4 Jan 10
Now that District-11 Newton One has a nëw hïgh of $1,730 psf, RWS Casino will be opening this weekends.
Property_Owner
10-02-10, 23:11
WT......One agent tole me Ardmore Pk sold for $10 million plus . Damn, I sell too early.:doh:
WT......One agent tole me Ardmore Pk sold for $10 million plus . Damn, I sell too early.:doh:
Islander, you are just adjusting your portfolio. :)
Anyway, District-9 The Suites at Central has a nëw hïgh of $2,141 psf!
Are you looking for higher than $2,000 psf, Andy? Good news for you!
The Suites at Central has a nëw hïgh of $2,141 psf!
The Suites At Central
Address .............................. psf ............... Area ........... Price ............ Contract Date
57B Devonshire Road #30-05 .... $2,141 psf .... 1,765 sqft .... $3,780,000 .... 20 Jan 10
WT......One agent tole me Ardmore Pk sold for $10 million plus . Damn, I sell too early.:doh:
Why you sold Ardmore Park? :scared-4:
Ardmore Park is the "must have" property for those who have the money to own one. :spliff:
Unfortunately it seems to be forever out of reach to me. :scared-5:
The Business Times
Mon, Feb 08, 2010
Condos hit the sweet spot, even without a tennis court
Private apartments these days go for as much as $2,600 per square foot, but they no longer come with facilities.
By EMILYN YAP
PAYING big money does not necessarily get you everything these days, at least when it comes to buying a private apartment.
New homes going for as much as $2,600 per square foot can offer designer furnishings and place you in a coveted district, but they may no longer come with large common spaces or even tennis courts traditionally associated with a private address ...
As it becomes harder to find prime projects offering large ground spaces and complete facilities, existing developments with these features are likely to stand out. 'One of the reasons why Ardmore Park is so popular is because it has a beautiful landscaped garden, and the grounds are sprawling. You don't get many of these, these days,' says DTZ's Mrs Ong.
hehe.. but if your passive income is > than a R8.. what is the problem :)
Anyway, it's a happy problem to be getting into.. blowing an R8 and only the wife nags... It shows your moola is strong..
... Thursday already ... still no news on the casino opening ... what the ...
Tony Blair
11-02-10, 09:42
... Thursday already ... still no news on the casino opening ... what the ...
It will be open this Saturday lah.Relax bro.
It will be open this Saturday lah.Relax bro.
Maybe not.
Anyway, going-8-year-old Yishun Sapphire and Yishun Emerald in District 27 have hit nëw hïghs of $592 psf and $566 psf respectively!
What a pair of condos!
Both set nëw hïghs of $592 psf and $566 psf respectively!
Can going-8-year-old Sapphire break $600 psf soon?
Yishun Sapphire
Address ........................... psf ............ Area ........... Price ......... Contract Date
42 Canberra Drive #07-07 .... $592 psf .... 1,023 sqft .... $605,000 .... 30 Dec 09
Yishun Emerald
Address ........................... psf ............ Area ........... Price ......... Contract Date
22 Canberra Drive #10-08 .... $566 psf .... 1,184 sqft .... $670,000 .... 28 Dec 09
bargain hunter
11-02-10, 12:39
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_4B8E89E78BF079C9482576C7001B7834/$file/RWS_openingrelease11feb2010.pdf?openelement
http://www.reuters.com/resources/images/logo_reuters_media_us.gif
Genting Singapore says to soft open ¢a$ino park on 14 February
Reuters
Singapore
Thursday, 11 February 2010, 1.26 pm CCT
http://upload.wikimedia.org/wikipedia/en/thumb/9/90/RWS.PNG/300px-RWS.PNG
Genting Singapore says to soft open Resort World Sentosa ¢a$ino park on 14th February 2010 (农历新年初一 + Valentine's Day).
bargain hunter
11-02-10, 12:49
p r e s s r e l e a s e
Resorts World Sentosa, Singapore’s First Integrated Resort
Casino opens 14 Feb 2010;
Celebrates with Universal Studios Singapore Previews
Singapore, 11 Feb 2009 - Singapore’s first Integrated Resort (IR), Resorts World Sentosa
(RWS), will begin the first day of the Tiger year with the soft-opening of its casino and a
preview opportunity to stroll through the amazing environments at Universal Studios
Singapore and enjoy the specially themed dining and shopping venues that will complement
the incredible attractions, rides and shows that soon will be revealed.
The casino, the Resort’s much-anticipated attraction, will have its first play at an auspicious
hour with a private ceremony and welcome its first public guest at 12.18 pm. A day of
festivities at the Integrated Resort has been planned to mark the red-letter day, including
the debut of its public attraction, Lake of Dreams, and evening previews at its Universal
Studios theme park.
The casino opening is part of the initial phased opening of Singapore’s first IR that began on
20 Jan 2010 with the opening of its four hotels: Crockfords Tower; Hotel Michael; Festive
Hotel; and Hard Rock Hotel Singapore. Its shopping and dining promenade, FestiveWalk,
soft-opened on 30 Jan 2010.
Resorts World Sentosa chairman, Tan Sri Lim Kok Thay said: “In less than three years since
the time we broke ground and commenced construction for Resorts World Sentosa, we have
taken our vision from drawing board to reality. This is a significant milestone in Singapore’s
business history. We promised to deliver a true Integrated Resort, and we have not
deviated from that.”
Chief Executive Officer of Resorts World Sentosa, Mr. Tan Hee Teck said: “We know a lot of
Singaporeans are looking forward to the opening of both our major elements, the Casino
and Universal Studios Singapore. We are ready to soft-open the Casino but are still finetuning
the rides and shows in the theme park, which are still on schedule to open in the first
quarter of 2010. However, since its Chinese New Year, we decided to offer Singaporeans a
week long preview of Universal Studios Singapore with a special and unique first-to-see
walk-through opportunity. The theme park’s unique restaurants and shopping venues will be
open for guests, although rides and shows will not be operational. However, we are
confident that the park’s design, vistas and photo opportunities will truly excite and impress
guests and motivate them for return visits when fully operational.’
“We celebrate the New Year with the people of Singapore and are thrilled to provide a sneak
peek of Universal Studios Singapore during this festive holiday period,” said Tom Williams,
Chairman and CEO, Universal Parks & Resorts. “It’s an exciting time for all of us and a great
opportunity to share a glimpse of the action, thrills and adventure that Universal will bring
to the region.”
For sneak peek week, Universal Studios Singapore will open from 5pm to 9pm every night
from 14 Feb to 21 Feb. Admission will be by $10 tickets, rebated by a same-value dining
voucher. Sale of the tickets starts from 11:18am Friday, 12 Feb 2010. Guests can visit the
box office at the Universal Studios Singapore front gate to purchase tickets for another day
(there will be no same day ticket sales available).
Following the sneak peek week, Universal Studios Singapore will open on 22 Feb 2010 to
Resorts World Sentosa, Genting, and Universal employees followed by limited audiences of
families, charities and invited guests. It expects to welcome its first public guests in early
March.
Casino Levy
Singapore citizens and Singapore permanent residents can start buying the casino levy at
the similar time of 11.18 am on Friday, 12 Feb 2010. The levy can be bought from counters
outside the Resorts World™ Sentosa casino and online at www.rwsentosa.com. Details of
the tours, levy terms and conditions will be posted online from Friday. Enquiries can be
made at
[email protected] or 6577 8888/99.
- End -
Shanghai One in District 10 has hit a hïgh of $1,257 psf!
Someone claimed he can buy around $1,000 psf. He must be another lucky guy smiling to the bank now!
This lucky guy is now blessed by RWS Casino.
His District-10 Shanghai One breaks hïgh again with $1,260 psf!
$1,260 psf?
In a period of just a few days, Shanghai One breaks hïgh again!
Must be due to RWS Casino opening this coming Sunday.
Shanghai One
Address ........................ psf ............... Area ......... Price ............ Contract Date
1 Shanghai Road #09-02.... $1,260 psf .... 1,066 psf .... $,1343,000 .... 18 Jan 10
http://www.sph.com.sg/images/logo_lhwb.png
赌场大年初一正式开张
高健康
联合晚报
星期四, 11-2-2010
http://news.omy.sg/OMYMEDIA/image/News/LocalNews/201002/20100211_news_casino_img_main.jpg
自上星期六赌场获发营业执照以来，赌场何时开幕已成为全城话题。
圣淘沙赌场明早正式开业，金卡会员将率先进赌场！
《联合晚报》记者今早在在圣淘沙名胜世界赌场巧遇三名赌场金卡会员，她们透露，已接获名胜世界邀请，将在今晚入住酒店，明早就可进赌场！
一名不愿具名的女士说：“我们知道赌场还没对外宣布（开放日期），但今早是特地先来了解赌场的情况。”她表示，持有金卡的朋友也已受邀入住酒店。据了解，这种金卡是云顶赌场根据赌客在赌博时累计的积分颁发，分成金卡会员、银卡会员和普通会员。金卡会员一般是俗称的“豪客”。
由此可见，云顶的金卡会员们相信已陆续直奔狮城，准备在明天到新赌场大开杀戒！
这些金卡金卡会员相信会下榻在4家已开放的酒店中，最奢华的康乐福豪华酒店（Crockfords Tower），因为这家酒店只接待受邀的赌场豪客。
自上星期六赌场获发营业执照以来，赌场何时开幕已成为全城话题，连日来媒体也步步追踪，铺天盖地密集报道。 众人皆相信，赌场一定会赶在春节前开业，以便搭上华人最重要传统节日的好风。
..........
..........
If anyone is thinking of queuing overnight on CNY Eve to be the first to enter RWS Casino on CNY 1st Day, you may want to reconsider.
The casino action starts tomorrow - not CNY 1st Day. The actors/actresses (a.k.a. gamblers) are checking into the hotels tonight/now.
Even higher new high achieved:
18 St. Michael'S Road #15-04 Freehold $1219 517 $630k 20 Jan 10
Err ... City Regency in District 12 hit another hïgh in less a week with $1,219 psf!
So City Square Residences in District 8 hitting hïgh of $1,297 psf is no biggie?
http://www.theedgesingapore.com/images/logo_s.png
The Tate residences unit sold for close to $3,000 psf
The Edge
Monday, 8 February 2010
http://img257.imageshack.us/img257/5016/tateresuw7.jpg
The Tate Residences
It’s starting to look like a self-fulfilling prophecy, as far as prices in the high-end residential segment in Singapore are concerned. Anecdotally, there’s evidence that some cash-rich speculators are also back in the market, according to some property consultants.
Notable secondary market transactions in the week of Jan 8 to 15 at The Tate Residences, Ardmore II and Scotts Square have seen a spike in prices.
One was the sale of a 2,207 sqft, 27th storey apartment at The Tate Residences on Claymore Road, developed by Hong Leong Holdings. The 85- unit luxury condo has two 36-storey towers, and is very close to completion.
The unit changed hands for $6.5 million ($2,946 psf). The seller purchased the apartment when it was launched in September 2006 at $5.046 million ($2,287 psf), and enjoyed a capital appreciation of 29% in about three years. This price is pretty close to the levels seen in the heady days of August to September 2007, when a 3,229 sqft unit on the 27th floor changed hands in a sub-sale for $11.3 million or $3,500 psf.
There’s been a lot of excitement along Claymore Road, particularly as the rumour mill is once again rife with speculation of The Claymore’s “en bloc potential”. Located next to The Tate Residences, the 146-unit luxury freehold condominium was completed in 1985 and is still considered a landmark luxury condo in that location. As early as 2007, owners of The Claymore had flirted with the possibility of an en-bloc sale, going as far as appointing CB Richard Ellis and DTZ as joint marketing agents. According to sources, it did not achieve the 80% consensus needed for a collective sale to take place.
“The Claymore definitely has en bloc potential,” says a property consultant who declined to be named. “But, the owners are reluctant to sell, because when looking at replacement units, it’s hard to find something comparable in the same location.” Unit sizes at The Claymore are large. The smallest are three-bedroom apartments 2,680 sqft in size. 4-bedroom apartments measure 3,348 sqft while the penthouses are 4,919 sqft each.
The most recent transaction at The Claymore was in November last year, when a three-bedroom, 13th floor apartment changed hands for $8.38 million ($2,503 psf). The previous owner had purchased the property in March 1996 for $5.2 million ($1,553 psf), and enjoyed a 61% capital appreciation over the last 14 years.
The last time an apartment at The Claymore crossed the $2,500 psf barrier was during the most recent peak in May 2008, when a 3-bedroom apartment on the 17th floor was sold for $6.8 million ($2,537 psf).
Further up Claymore Road is the prestigious Ardmore Park enclave, where the 303-unit Ardmore Park developed by Wheelock Properties epitomised the height of luxury in the mid-1990s. Even today, it’s the yardstick for luxury property prices. Riding on its success, the developer launched the 118-unit Ardmore II in September 2006 and, to date, the project is 100% sold and close to completion. After it was launched, prices ranged from $2,087 psf to a high of $3,208 psf in May 2007 at the peak of the market. At that time, Ardmore Park apartments were changing hands in the resale market at $1,837 to $2,773 psf.
With anticipation of the private preview of Ardmore III mounting, at prices said to be $3,500 psf or higher, an apartment on the 24th floor of Ardmore II was sold for $5.566 million ($2,751 psf) in a sub-sale. The seller bought the unit when it was launched in October 2006 for $4.833 million ($2,389 psf). The last time an apartment at Ardmore II breached the $2,700 psf mark was February 2008, when an 11th floor apartment sold for $5.675 million ($2,804 psf).
Meanwhile, at the 338-unit Scotts Square located on Scotts Road, also by Wheelock Properties, an apartment on the 25th floor was sold for $3.35 million ($3,537 psf), according to a caveat lodged last month. The seller purchased the 947 sqft apartment in August 2007, when the project was launched, for $3.735 million ($3,944 psf). At the peak of the market, a 1,249 sq ft apartment on the 28th floor had changed hands in a sub-sale at $5.558 million or a high of $4,451 psf.
The 45-storey tower is expected to be completed in 2011, and will house luxury retail and commercial space on the first 5 levels.
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Have more, not fewer, Tiger babies: PM
Singapore's total fertility rate slid to lowest-ever level of 1.23 last year
Sue-Ann Chia
Senior Political Correspondent
The Straits Times
Saturday, 13 February 2010
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The Marina Bay floating platform was transformed into a festival of light and sound yesterday as the River Hongbao 2010 was officially opened by Deputy Prime Minister and Defence Minister Teo Chee Hean. Highlights of this year's event, which will run until Feb 20, include over 300 performances and a display of 88 lanterns. -- Photo: Desmond Wee, ST
Singapore's productivity push to grow the economy extends beyond the factory floor and corporate boardroom, to the bedroom.
Prime Minister Lee Hsien Loong has called on couples to have more, not fewer, babies in the Year of the Tiger, which starts tomorrow.
His message comes amid a dire situation in which Singapore's total fertility rate slid to the lowest-ever level of 1.23 last year, down from 1.28 in 2008.
It is far below the replacement rate of 2.1. In other words, Singapore was short of at least 10,000 babies to replace Singaporeans in the community.
For the Chinese, the rate was even lower. It fell from 1.14 in 2008 to 1.09 last year, which is equal to the lows in 2003 and 2004.
Disclosing these figures in his Chinese New Year message, Mr Lee said: 'Probably the recession last year made couples hold back having babies. But it also reflects fundamental societal changes that are affecting all East Asian societies.'
The Prime Minister is worried the fertility rate could head further south this year, as some Chinese couples prefer not to have Tiger-year babies.
In each of the last three Tiger years in 1998, 1986 and 1974, the number of births dipped by 7%.
'It is one thing to encourage ourselves with the traditional attributes of the zodiac animals,' he said. 'But it is another to cling on to superstitions against children born in the Year of the Tiger, who are really no different from children born under other animal signs.'
Regardless of the zodiac signs, he said the Government will continue to support and encourage Singaporeans to have children and ensure the country is a conducive place for families.
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Have more Singaporean babies please! Otherwise, we will have problem in replacement.
Allthepies
13-02-10, 12:22
Have more Singaporean babies please! Otherwise, we will have problem in replacement.
How to have more babies if the working class are busy working to pay off their rising mortgages and the rich are busy making more money :D The mindset of Singapore must change from that of just pursuing of material wealth (which the government is ever pushing i.e. national goal to increase Singapore productivity to make more money; to be competitive to make more money; to be the best in everything e.t.c e.t.c).
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Rides not ready, but there's a queue already
AsiaOne Relax
Saturday, 13 February 2010
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Photo: Ng Sor Luan, Alphonsus Chern and Desmond Wee
By 9.30am yesterday, almost 2 hours before they went on sale, a queue of about 30 people had already formed at Resorts World Sentosa (RWS) for the hottest tickets in town: $10 entry passes to Universal Studios Singapore.
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Photo: Ng Sor Luan, Alphonsus Chern and Desmond Wee
Retiree Greg Semon, 56, from Seattle, Washington, getting a photo with Universal Studio characters. He was the first at the queue, arriving at 8.45am before anyone else to get the tickets.
http://static.relax.com.sg/site/servlet/linkableblob/relax/320176/topImage.jpg
Photo: Ng Sor Luan, Alphonsus Chern and Desmond Wee
Retiree Greg Semon, who was the first in the queue.
Found this interesting article:
http://www.prosperwithfengshui.com/txt/0110_Year%202010%20Predictions.pdf
Happy New Year, Gong Xi Fa Cai! :)
I am not sure if that $1,400-psf seller is a happy man.
But I do know this latest seller who has recorded a nëw hïgh of $1,404 psf is a happy man. He should be as his unit is 5 levels lower than the former's.
Watermark Robertson Quay
Address ...................... psf .............. Area ......... Price ............. Contract Date
1 Rodyk Street #04-09 .... $1,404 psf ... 926 sqft .... $1,300,000 ..... 30 Dec 09
Oh! And District-9 Watermark Robertson Quay's resale has a nëw hïgh.3 weeks later ... District-9 Watermark Robertson Quay hit a nëw hïgh again with $1,507 psf!
Amazing isn't it?
Watermark Robertson Quay
Address ....................... psf .............. Area ........... Price ............. Contract Date
1 Rodyk Street #08-10 .... $1,507 psf o.. 1,055 sqft .... $1,590,000 ..... 25 Jan 09
$2,921 psf sure is a good start for Urban Suites.
Why not $3,000 psf?
Private Residential Units Sold in the Month of January 2010
Project Name . Locality . Units Sold To Date . Units Sold In Month . Highest $psf . Median $psf . Lowest $psf
Urban Suites .... CCR ....... 146 ....................... 88 .......................... 2,921 ........... 2,506 ........... 2,213
November 2009 high of $2,673 psf has been broken.
The nëw hïgh is $2,771 psf now!
Private Residential Units Sold in the Month of January 2010
Project Name . Locality . Units Sold To Date . Units Sold In Month . Highest $psf . Median $psf . Lowest $psf
Espada ............ CCR ....... 111 ...................... 33 .......................... 2,771 ........... 2,475 ........... 1,995
Oh well!
That new high only lasted a month.
WC has a nëw hïgh of $2,010 psf now!
Private Residential Units Sold in the Month of January 2010
Project Name ............... Locality . Units Sold To Date . Units Sold In Month . Highest $psf . Median $psf . Lowest $psf
Waterscape At Cavenagh . CCR ....... 10 ........................ 2 ............................ 2,010 ........... 1,976 ........... 1,941
jlrx, Urban Suites missed your $3,000 psf by $79 psf in January. You need some tuning?
Anyway, which District-9 nëw hïgh do you like? $2,921 psf?
Cyan's all-time high of $2,003 psf, set in November 2009, has been broken.
The nëw hïgh is now $2,050 psf!
Private Residential Units Sold in the Month of January 2010
Project Name . Locality . Units Sold To Date . Units Sold In Month . Highest $psf . Median $psf . Lowest $psf
Cyan .............. CCR ....... 160 ....................... 37 .......................... 2,050 ........... 1,937 ........... 1,702
$1,900 psf is surely a good start for RV Edge.
Private Residential Units Sold in the Month of January 2010
Project Name . Locality . Units Sold To Date . Units Sold In Month . Highest $psf . Median $psf . Lowest $psf
RV Edge .......... CCR ........ 91 ........................ 91 ......................... 1,900 ........... 1,696 ........... 1,441
$1,843 psf is surely a good start for Holland Residences.
Private Residential Units Sold in the Month of January 2010
Project Name ...... Locality . Units Sold To Date . Units Sold In Month . Highest $psf . Median $psf . Lowest $psf
Holland Residences . CCR ....... 63 ........................ 63 .......................... 1,843 ........... 1,694 ........... 1,466
I guess District-10 is doing fine too.
I especially like Cyan's nëw hïgh - $2,050 psf.
jlrx, Urban Suites missed your $3,000 psf by $79 psf in January. You need some tuning?
Anyway, which District-9 nëw hïgh do you like? $2,921 psf?
Not bad. Almost on target $3,000 psf! :cheers1:
But if $9,221 psf will be even better! :p
If hit $9,221 psf I am going to buy a Panamera Turbo PDK (A)! :spliff:
Trilight's all-time high of $1,842 psf, set in December 2009, has been broken.
The nëw hïgh is now $1,869 psf!
Private Residential Units Sold in the Month of January 2010
Project Name . Locality . Units Sold To Date . Units Sold In Month . Highest $psf . Median $psf . Lowest $psf
Trilight ............ CCR ....... 90 ........................ 18 .......................... 1,869 ........... 1,754 ........... 1,669
$1,444 psf is surely a good start for Cube 8.
Private Residential Units Sold in the Month of January 2010
Project Name . Locality . Units Sold To Date . Units Sold In Month . Highest $psf . Median $psf . Lowest $psf
Cube 8 ............ CCR ....... 167 ...................... 167 .../..................... 1,444 ........... 1,286 ........... 1,163
District 11 seems OK too.
$1,869 psf is pretty good for Trilight, I think.
$2,011 psf may seem small to the high of $3,000 psf. It is, nevertheless, a remarkable figure in District 15.
Private Residential Units Sold in the Month of January 2010
Project Name . Locality . Units Sold To Date . Units Sold In Month . Highest $psf . Median $psf . Lowest $psf
Aalto .............. RCR ........ 118 ...................... 1 ............................ 2,011 ........... 2,011 ........... 2,011
Silversea's all-time high of $1,780 psf has been broken!
The nëw hïgh is now $1,886 psf!
Private Residential Units Sold in the Month of January 2010
Project Name . Locality . Units Sold To Date . Units Sold In Month . Highest $psf . Median $psf . Lowest $psf
Silversea ......... RCR ....... 124 ....................... 14 .......................... 1,886 ........... 1,528 ........... 1,223
$1,634 psf and 44% sold are surely good news for low-profile new-launch like Siglap V.
Private Residential Units Sold in the Month of January 2010
Project Name . Locality . Units Sold To Date . Units Sold In Month . Highest $psf . Median $psf . Lowest $psf
Siglap V .......... RCR ........ 50 ........................ 50 .../..................... 1,634 ........... 1,508 ........... 1,152
For the amount of insults and discrimination The Shore Residences received, $1,418 psf is surely a reward it deserved in January. Look out for $1,436 psf in February.
Private Residential Units Sold in the Month of January 2010
Project Name .......... Locality . Units Sold To Date . Units Sold In Month . Highest $psf . Median $psf . Lowest $psf
The Shore Residences . RCR ....... 221 ....................... 144 ........................ 1,418 ........... 1,200 ........... 1,043
I must say District 15 is doing very well.
Aalto's $2,011 psf will surely be the talk of East Coast!
I must say District 15 is doing very well.
Aalto's $2,011 psf will surely be the talk of East Coast!
That's wonderful! :cheers1:
It's time that everyone withdraw their properties from the market.
Just tell the agent "I think I'm not selling anymore" or "I'm keeping it as a wedding gift for Ah Boy so he doesn't need to ballot for flats next time".
Let's see how soon this $2,011 psf record can be broken.
Balestier can push $1,500 psf?
"mcmlxxvi", $1,500 psf is already history!
The nëw hïgh is now $1,506 psf!
Private Residential Units Sold in the Month of January 2010
Project Name .. Locality . Units Sold To Date . Units Sold In Month . Highest $psf . Median $psf . Lowest $psf
Prestige Heights . RCR ....... 52 ........................ 17 .......................... 1,506 ........... 1,336 ........... 1,146
Vista Residences' all-time high of $1,465 psf, set in December 2009, has been broken.
The nëw hïgh is now $1,471 psf!
Private Residential Units Sold in the Month of January 2010
Project Name ... Locality . Units Sold To Date . Units Sold In Month . Highest $psf . Median $psf . Lowest $psf
Vista Residences . RCR ....... 198 ....................... 5 ........................... 1,471 ........... 1,324 ........... 1,310
District 12 is doing very well and outshining District 11.
I especially like the $1,506 psf in Balestier.
Jardin, in District 21, has a nëw hïgh of $1,840 psf!
What can I say?
Private Residential Units Sold in the Month of January 2010
Project Name . Locality . Units Sold To Date . Units Sold In Month . Highest $psf . Median $psf . Lowest $psf
Jardin ............. RCR ........ 27 ........................ 3 ........................... 1,840 ........... 1,800 ........... 1,617
Compared with District 12, District 21 is really one up. It has outshone Districts 10 and 11 with Jardin's $1,840 psf!
I am speechless!
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百人豪客团初五进赌场搏杀 目标赢1000万
高健康 + 刘婵
联合晚报
星期三, 17-2-2010
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名胜世界开场3天，场内天天爆满，场外则大排长龙。（图／档案照）
百人豪客团，将在明天挑战名胜世界赌场。
圣淘沙名胜世界赌场自上个星期天开张以来，已有超过6万名国内外赌客进场厮杀。这群赌客当中，除了想赢点小钱的普通民众，也“潜藏”了不少豪客，大多是隐而不露的超级富翁，趁我国首家赌场新开张，前来发新年财。
据《联合晚报》获知的可靠消息，一支百人豪客团已经杀到，他们是本地某风水师的顾客，每年春节都会特地飞来狮城向风水师拜年，今年巧遇赌场在年初一开业，顺道进场搏杀。
消息人士透露，这群豪客大多是印尼华裔富翁，靠酒店业、银行业、房地产、布匹、木材及棕油发迹，长期占据印尼富豪榜，有些更在前30名以内。此外也有一些是台湾和中国大陆企业家。
据了解，他们当中一些人在年初一赌场开业后已陆续进场，一下注动辄上万元，有人在两小时内就赢走了20多万。
消息人士说：“这群豪客到美国赌场都有专机接送，住的是总统套房，但这次却以普通赌客身份进入圣淘沙赌场，也不愿在贵宾房赌，因为在亚洲赌场容易被人认出。”
据悉，富豪们大多玩百家乐和二十一点，他们的太太则爱拉老虎机。
消息人士进一步透露，豪客们这几天大多是分批进赌场，各自作战。接下来，他们在风水师的指点下，将在明天倾巢而出，目标是至少赢走1000万。
分18人‘小纵队’入场
豪客团将分成18人“小纵队”进赌场。
消息人士透露，豪客们在小赌时，往往单枪匹马，各自作战，但是在下巨大的赌注时，就会群策群力，而且喜欢分成特殊的18人“小纵队”进赌场。
消息人士解释：“18是‘实发’的谐音，豪客相信这会给他们带来好运，所以每次进场都是18人，进去之后一般会兵分多路，两三个人到一张赌桌下注，但有时也打团体战，20多个人同赌一桌。”
据了解，在明天进赌场前，豪客们都已分别得到风水师的指点。风水师根据他们的生辰八字，算出每人的有利方位和幸运颜色等。
开业3天 进出人数达6万人
开业3天，进出赌场的人数已达6万人！
名胜世界公布的最新数据显示，截至昨晚8时，单是光顾赌场的赌客已有6万人，不包括参观环球影城及名胜世界其他设施的人数。
赌场上星期天中午12时18分准时开业，当晚6时已有6500名赌客，到了第二天赌客人数已高达3万5000人，昨天单日（截至晚上8时）则有另外2万500人进场。
由此推算，农历新年的3天长假，赌场共迎来了6万名赌客。
D Day: The Final Assault on RWS Casino
Reporter
Today (初五, 18 February 2010) is D Day for RWS Casino!
The Attackers, Their Commander and Their Objective
A 100-strong team of billionaires and millionaires, commanded by a local fengshui master, are here to attack RWS Casino. Their target: a win of at least S$10 million!
The team consists mainly of Chinese Indonesian tycoons. Some are even in the top 30 rich list! The rest are from Taiwan and China. Their original intention here is to visit the fengshui master as part of their annual CNY routine.
Most have already visited RWS Casino individually. Obviously, RWS Casino has won many of the small battles with them. This time, they stand united and are determined to beat RWS Casino.
Attack Formation and Strategy
Under the new attack, they will not be using any VIP facilities but will enter as ordinary customers to avoid being spotted.
As instructed by their commander (aka fengshui master), they will attack in 18-member-section formation when placing heavy bets. On other times, they may break into smaller 3-member teams. Occasionally when heavier firepower are called for, the section will receive reinforcement to form a bigger section with 20 members.
The Big Question
RWS Casino may have won many of the small battles with them previously but can it survive the Revenge of the Fallen this time?
i cant help but LOL at the above :D
bargain hunter
18-02-10, 11:12
me too but someone said some dealers lost until no more chips and that "news" caused genting to break below $1...now i don't know which is more hilarious...LOL...:p
i cant help but LOL at the above :D
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