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mr funny
25-01-10, 22:46
http://www.straitstimes.com/PrimeNews/Story/STIStory_480929.html

Jan 23, 2010

Landed homes lift private property market

Prices of landed property rose by 7.7 per cent for the whole of last year

By Fiona Chan


LANDED homes turned out to be the star performer of the private property market last year, rising far more in price than other types of housing.

As a whole, detached, semi-detached and terrace houses jumped in price by 8.3 per cent in the fourth quarter of last year and 7.7 per cent for the whole of 2009.

This significantly outstripped condominiums and apartments, according to data released by the Urban Redevelopment Authority (URA) yesterday.

Despite rising 7.2 per cent in the fourth quarter, non-landed property registered a meagre 0.5 per cent price increase for last year.

'Landed homes are limited in supply, so people always aspire towards owning one,' said Ms Chua Chor Hoon, head of South-east Asia research at DTZ Debenham Tie Leung.

'When the market was in a slump, some buyers took the chance to buy landed properties. And now that condominium prices have gone up a lot again, people are seeing better value in landed homes.'

Terrace houses, the cheapest type of landed housing, were the most sought-after. Prices of terraces shot up 10 per cent last year, followed by semi-detached houses with an 8.8 per cent rise.

Detached houses - which include good-class bungalows, the grande dames of Singapore property - rose in price by a smaller 5.6 per cent last year.

Taken together with non-landed property, this translated into overall private home prices rising by 1.8 per cent for the whole of last year.

The rise in prices, despite 2009 being a recession year, was entirely due to the property market roaring back to life in the second half of the year as the economy emerged from recession.

Private home prices jumped 7.4 per cent in the fourth quarter, after soaring 15.8 per cent in the third quarter, said the URA yesterday.

Unlike in earlier quarters, the price increase between October and December was led by more expensive homes nearer to town.

Prices of homes on the city-fringe - covering the East Coast, Queenstown and Bishan - rose the most, by almost 10 per cent.

Homes in the core central region, which refers to the prime districts of 9, 10, 11, Marina Bay and Sentosa, saw prices rise by 7.3 per cent.

For the first time, suburban homes were the laggard in the fourth quarter last year, with a price rise of only a 6.3 per cent.

But although overall prices surged in the fourth quarter, home sales slowed considerably.

Only 1,860 new homes were sold in the final quarter of last year, just a third of the sales in the preceding quarter, said Mr Li Hiaw Ho, executive director of CB Richard Ellis Research.

Resale and sub-sale transactions fell by about half in the fourth quarter, which is traditionally a subdued period for home sales. Last year, this coincided with the introduction of government measures to cool the property market in September.

For the whole year, home buyers bought 14,688 new homes from developers and 18,129 homes from other home owners. While this was a big jump from the muted activity in 2008, sales were still lower than during the boom year of 2007, Mr Li said.

He expects home sales to moderate this year after last year's rapid buying activity.

About 8,000 to 10,000 new homes will probably be sold, while prices are projected to rise by 8 per cent to 10 per cent through the year, led by the high-end segment of the market, according to Mr Li's forecasts.

'Already, the year has started with a positive sentiment in light of the Government's forecast of 3per cent to 5 per cent economic growth for the whole year,' he said. 'Increased hiring and pay rises are also on the cards.'

[email protected]

jlrx
17-03-10, 02:42
While Reporter is busy reporting all the record breaking new condo launches, and many people here are wondering why their secondary subsale condos cannot fetch the same price as the new launches, let me provide an update on one housing segment which has been overlooked by Reporter, but yet able to fetch record breaking subsale prices! :scared-4:

Congratulations to OPERA ESTATE for breaking above a MONTHLY AVERAGE of $1,000 psf for the FIRST TIME IN ITS HISTORY!!! :cheers1:

It has come a long way since $228 psf in 1989 (circled in red in news clipping below).

http://i305.photobucket.com/albums/nn211/jlrx_bucket/OperaEstate20100317.jpg

http://i305.photobucket.com/albums/nn211/jlrx_bucket/OperaEstate19890911.jpg

proud owner
17-03-10, 11:24
While Reporter is busy reporting all the record breaking new condo launches, and many people here are wondering why their secondary subsale condos cannot fetch the same price as the new launches, let me provide an update on one housing segment which has been overlooked by Reporter, but yet able to fetch record breaking subsale prices! :scared-4:

Congratulations to OPERA ESTATE for breaking above a MONTHLY AVERAGE of $1,000 psf for the FIRST TIME IN ITS HISTORY!!! :cheers1:

It has come a long way since $228 psf in 1989 (circled in red in news clipping below).

http://i305.photobucket.com/albums/nn211/jlrx_bucket/OperaEstate20100317.jpg

http://i305.photobucket.com/albums/nn211/jlrx_bucket/OperaEstate19890911.jpg


walau dont sarbo me leh ...

i am stil looking to buy more landed ...

now you let the cat out ...

Blue
17-03-10, 12:50
Even Serangoon Garden brand new landed houses already selling above $1000 land psf...opera estate should be higher..

Bgt my landed in Katong (D15) at $1400 land psf!!! But it's newly rebuilt. I'm a happy man! :)

Did a search in URA, highest land psf in D15 was $1950 psf in Tembeling Road, Katong! :cool:

Localite
17-03-10, 17:05
Even Serangoon Garden brand new landed houses already selling above $1000 land psf...opera estate should be higher..

Bgt my landed in Katong (D15) at $1400 land psf!!! But it's newly rebuilt. I'm a happy man! :)

Did a search in URA, highest land psf in D15 was $1950 psf in Tembeling Road, Katong! :cool:

These high psf are they for terrace houses? Normally small plots of land you cannot calculate based on land area alone as building cost is a big proportion.

jlrx
17-03-10, 17:23
walau dont sarbo me leh ...

i am stil looking to buy more landed ...

now you let the cat out ...

I thought you already have one landed house?

Same as you, I was also looking for another landed house.

That's why I had been keeping quiet all this time ...

However, after searching for months and meeting increasingly ridiculous asking prices, I have given up.

Hence I let the cat out of the bag (although I think it is already out of the bag).

http://www.secret-agent-josephine.com/blog/images/cats-out-of-the-bag.gif

proud owner
17-03-10, 22:51
I thought you already have one landed house?

Same as you, I was also looking for another landed house.

That's why I had been keeping quiet all this time ...

However, after searching for months and meeting increasingly ridiculous asking prices, I have given up.

Hence I let the cat out of the bag (although I think it is already out of the bag).

http://www.secret-agent-josephine.com/blog/images/cats-out-of-the-bag.gif


hahah

must respect yuo lah

i do like your cartoons ... damn good

if you have been following my posts .. i said long again .. i want to buy up the whole row of houses ... and enbloc myself ..to build condo ..ahhaha


condos are for quickie flippers .. in and out ..pay extra stamp duty ..still make money ..

i prefer to be LAND lord .. not AIRSPACE lord ..

jlrx
18-03-10, 03:49
hahah

must respect yuo lah

i do like your cartoons ... damn good

if you have been following my posts .. i said long again .. i want to buy up the whole row of houses ... and enbloc myself ..to build condo ..ahhaha


condos are for quickie flippers .. in and out ..pay extra stamp duty ..still make money ..

i prefer to be LAND lord .. not AIRSPACE lord ..

Too late. The land grab has already begun. :(

As I see landed housing prices running away, I feel both happiness and a tinge of sadness.

I think proud owner will understand this feeling.

Hmmm ... below are some old news clippings (I'm not out to irritate anyone but just overcome by nostalgia.).

Congratulations to Lucky Heights (in Katong Seaview Palace) for breaking above $1,000 psf for the FIRST TIME IN ITS HISTORY!!! :cheers1:

http://i305.photobucket.com/albums/nn211/jlrx_bucket/LuckyHeights20100318.jpg

http://i305.photobucket.com/albums/nn211/jlrx_bucket/KatongSeaviewPalaceByNgTengFong1967.jpg

xebay11
18-03-10, 08:22
jirx please continue to post those clippings, those are the times I have lived through and experienced when my father was investing in properties, they make very good discussion with my father on those days and what we should and could have done.

jlrx
18-03-10, 23:13
jirx please continue to post those clippings, those are the times I have lived through and experienced when my father was investing in properties, they make very good discussion with my father on those days and what we should and could have done.

Here is FEO's advertisement for Katong Seaview Palace where Lucky Heights is located. :cheers1:

Booking fee only $500! :scared-4: No need to throw blank cheque. :p

http://i305.photobucket.com/albums/nn211/jlrx_bucket/KatongSeaviewPalace19670314.jpg

http://www.ilovesingaporeproperty.com/photos/2009-1016-1-cover.jpghttp://img1.classistatic.com/cps/kj/091122/543r4/0328f7m_19.jpeg

proud owner
19-03-10, 01:40
Here is FEO's advertisement for Katong Seaview Palace where Lucky Heights is located. :cheers1:

Booking fee only $500! :scared-4: No need to throw blank cheque. :p

http://i305.photobucket.com/albums/nn211/jlrx_bucket/KatongSeaviewPalace19670314.jpg

http://www.ilovesingaporeproperty.com/photos/2009-1016-1-cover.jpghttp://img1.classistatic.com/cps/kj/091122/543r4/0328f7m_19.jpeg


hhmm looks like the Head of the lion in those Lion dance

or am i seeing things ?

jlrx
19-03-10, 02:43
hhmm looks like the Head of the lion in those Lion dance

or am i seeing things ?

You mean like this?

http://img1.classistatic.com/cps/kj/091122/543r4/0328f7m_19.jpeghttp://www.hongluck.org/images/silver_lion_head.jpg

That's a $90,000 lion head! :scared-4:

http://i305.photobucket.com/albums/nn211/jlrx_bucket/KatongSeaviewPalaceLuckyCrescent197.jpg

These old houses look very forlorn, but in their glory days they must have seen lots of parties and social activites like this ...

http://i305.photobucket.com/albums/nn211/jlrx_bucket/OldMovieParties.jpg

Blue
19-03-10, 12:20
These high psf are they for terrace houses? Normally small plots of land you cannot calculate based on land area alone as building cost is a big proportion.

Yup.

For old landed houses, you can still find below $1000 land psf, say 1500 sqft of land x $800 psf => $1.2M

For newly rebuilt ones, it has to be above $1000 land psf bec rebuilding cost itself is already $250 to $350 psf based on built-in area. Say the land itself is already $1.2M as shown above, and rebuilding it with 3500 sqft x $300 psf = $1.05M.

So total cost of the newly rebuilt house is $2.25M. Use that to divide by the land size=> $1500 land psf which will be caveated in URA website. :cheers6:

Blue
19-03-10, 12:26
I thought you already have one landed house?

Same as you, I was also looking for another landed house.

That's why I had been keeping quiet all this time ...

However, after searching for months and meeting increasingly ridiculous asking prices, I have given up.

Hence I let the cat out of the bag (although I think it is already out of the bag).

http://www.secret-agent-josephine.com/blog/images/cats-out-of-the-bag.gif

Thot you are a firm believer of propertism? In tat case, land prices will always go up! There is no such thing as "increasingly ridiculous asking prices" that would make you give up! :D No matter when you buy, prices will still go up in the long term! :spliff:

jlrx
19-03-10, 17:46
Thot you are a firm believer of propertism? In tat case, land prices will always go up! There is no such thing as "increasingly ridiculous asking prices" that would make you give up! :D No matter when you buy, prices will still go up in the long term! :spliff:

The problem is that asking prices were going up faster than the cash in my bank.

Resale landed houses need immediate 20% to 30% downpayment (depending on 70% or 80% loan) plus another approx. 3% stamp duty and other fees, which come to about $1 million.

Unless I buy those spanking new 3-storey houses from developers which TOP a few years later, but I prefer houses which have more land (like that lion head house above).

Unfortunately, keeping so much cash in the bank runs against Rule No. 2 of PROPERTISM - Paper money will lose all its value in the long run. :doh:

So I ended up buying a smaller property instead. :(

proud owner
20-03-10, 03:42
The problem is that asking prices were going up faster than the cash in my bank.

Resale landed houses need immediate 20% to 30% downpayment (depending on 70% or 80% loan) plus another approx. 3% stamp duty and other fees, which come to about $1 million.

Unless I buy those spanking new 3-storey houses from developers which TOP a few years later, but I prefer houses which have more land (like that lion head house above).

Unfortunately, keeping so much cash in the bank runs against Rule No. 2 of PROPERTISM - Paper money will lose all its value in the long run. :doh:

So I ended up buying a smaller property instead. :(

the high lighted above holds true for most of us ..

prices run even faster in Condos, compared to landed ..

price expectations run faster than the economy

sellers price their condo at future value , sometimes as much as 10-15 years ahead ..eg those 99 yr lease at Tajong Pagar ..

so how ?

if only govt also impose rules that companies pay us at the same pace as property prices ..how shiok

jlrx
21-03-10, 00:44
if only govt also impose rules that companies pay us at the same pace as property prices ..how shiok

Then property prices will increase even faster! :scared-4:

Localite
27-03-10, 19:42
Hi everyone, I have been monitoring the landed ppty market and i notice that it has gone up some 50% over the last year, and much more than the ura caveats indiacate. Any views on this....is this true.

jlrx
27-03-10, 23:36
Hi everyone, I have been monitoring the landed ppty market and i notice that it has gone up some 50% over the last year, and much more than the ura caveats indiacate. Any views on this....is this true.

You are right.

And if you notice this, then I suspect you are also looking at resale landed houses.

What happened was that old resale landed houses (especially those with large plots of land) had shot through the roof. However, those new spanking three-and-a-half storey semi-detached with built-in area of 6,000 sq ft sitting on only 2,000 sq ft of land had not gone up much (if at all).

Suddenly, it seems, everyone is waking up to the fact that it's land they have to grab, and not the buildings. :scared-5:

Everyone wants to be like proud owner, a "LAND lord .. not AIRSPACE lord".

However, the URA landed house index averages out all these new and old houses. Look at the most recently published URA data (below) on landed properties (Business Times March 25, 2010).

It shows that between Q4 2008 and Q4 2009, terraces and semi-detaches increased from an index of 150 points to 160 points (up 6.7%) while bungalows from 160 to 170 points (up 6.3%).

http://i305.photobucket.com/albums/nn211/jlrx_bucket/LandedPropertyIndex2004Q1To2009Q4.jpg

What these data concealed was that new developments like Hillcrest Villa and Luxus Hills hardly rose between Q4 2008 and Q4 2009, whereas very old developments like Opera Estate (up 35%), Lucky Heights (up 90%) and Serangoon Garden Estate (up 110%) were shooting up like there was no tomorrow. :scared-4:

http://i305.photobucket.com/albums/nn211/jlrx_bucket/HillcrestVilla20100327.jpg

http://i305.photobucket.com/albums/nn211/jlrx_bucket/LuxusHill20100327.jpg

http://i305.photobucket.com/albums/nn211/jlrx_bucket/OperaEstate20100317.jpg

http://i305.photobucket.com/albums/nn211/jlrx_bucket/LuckyHeights20100318.jpg

http://i305.photobucket.com/albums/nn211/jlrx_bucket/SerangoonGardenEstate20100327.jpg

Regulators
28-03-10, 16:42
:doh: :doh:

moneyspinner
29-03-10, 18:24
Think its too late to buy a landed property now as prices has really gone up to high in too short a time!:doh:

moneyspinner
29-03-10, 18:36
Think its too late to buy a landed property now as prices has really gone up to high in too short a time!:doh:

Sellers are now like BIG WHITE SHARKS asking for sky high prices!!!!!!:banghead:

focus
29-03-10, 22:01
If you are able to rebuild or do A&A, old landed is still viable as they are usually selling at land price instead of built-up price.

jlrx
30-03-10, 02:33
If you are able to rebuild or do A&A, old landed is still viable as they are usually selling at land price instead of built-up price.

"land price" is the one that has shot through the roof.

Look at this pair of houses 65 and 67, Walmer Drive, and their respective caveats in 2005 ($256 psf) and 2010 ($573 psf).


http://i305.photobucket.com/albums/nn211/jlrx_bucket/WalmerDrive6567.jpg

http://i305.photobucket.com/albums/nn211/jlrx_bucket/WalmerDrive6567Caveats20100210.jpg


Sellers are now like BIG WHITE SHARKS asking for sky high prices!!!!!!:banghead:

I would have agreed with moneyspinner that these sellers are "BIG WHITE SHARKS asking for sky high prices", if not for the fact that I could be referring to myself :scared-4: (except that I'm not selling due to my belief in PROPERTISM). :p

proud owner
30-03-10, 04:22
Sellers are now like BIG WHITE SHARKS asking for sky high prices!!!!!!:banghead:

still not as ridiculous as condo

focus
30-03-10, 12:10
"land price" is the one that has shot through the roof.

Look at this pair of houses 65 and 67, Walmer Drive, and their respective caveats in 2005 ($256 psf) and 2010 ($573 psf).



Oh, I am thinking if I am going to pay $1000-1500psf for a hole in the sky without a land. Then land at $600-800psf is damn cheap relatively.

bargain hunter
30-03-10, 14:48
technically, u still own your share of the condo * total land area of the site which the condo sits on in addition to the airspace area. :ashamed1: which is peanuts actually.

anyway, back to landed. Jirx is right, there are now many semi-ds which have been cut into 2000+sq ft of land with 6000sq ft of brand new built up and all asking for 3m up. so that's still 1500psf or more. :) and not even in prime districts. but the agents will tell u, only 500psf of built up, where to find in condos?




Oh, I am thinking if I am going to pay $1000-1500psf for a hole in the sky without a land. Then land at $600-800psf is damn cheap relatively.

jlrx
31-03-10, 04:28
Oh, I am thinking if I am going to pay $1000-1500psf for a hole in the sky without a land. Then land at $600-800psf is damn cheap relatively.


anyway, back to landed. Jirx is right, there are now many semi-ds which have been cut into 2000+sq ft of land with 6000sq ft of brand new built up and all asking for 3m up. so that's still 1500psf or more. :) and not even in prime districts. but the agents will tell u, only 500psf of built up, where to find in condos?

That's right.

Landed are so cheap because these two people cannot just come and pick up four landed properties like buying clothes.


Business Times Published March 25, 2010

http://www.businesstimes.com.sg/mnt/media/image/launched/2010-03-25/BT_IMAGES_KRCHAN25-6J7.jpg (http://javascript<b></b>:openwindow('/local/picturepopup/0,4661,140263-260000,00.html?');)

(SINGAPORE) Hong Kong movie superstar Jackie Chan and his good friend singer/songwriter Emil Chau, who were in town recently for last Sunday's Thong Chai Charity Night, also picked up some properties in Singapore.

The duo bought four apartments at Lippo Group's freehold Centennia Suites worth over $10 million last week.

Of all the so-called privileges specially reserved for Singapore citizens (e.g. ability to vote, buy new HDB flats, children school priority etc.), the most profitable one is the right to purchase landed property. :p

moneyspinner
31-03-10, 11:18
Need expert advice on landed property investment. Is a regular shaped land, i.e. squarish or rectangular, critical in the purchase of landed property? What do you guys think if the property is sitting on a 'L' shape land? What is the impact on the valuation of the property in future if I wish to get rid of it? Thanks.

Condorich
31-03-10, 11:41
Need expert advice on landed property investment. Is a regular shaped land, i.e. squarish or rectangular, critical in the purchase of landed property? What do you guys think if the property is sitting on a 'L' shape land? What is the impact on the valuation of the property in future if I wish to get rid of it? Thanks.

Best is rectangular, can do a lot with it.
Next best is square
Least preferred is L shaped.
However, if you are rich enough.. you may want to buy a L shaped as that would mean it is deeper into the area and quieter Generally. L shape would mean a longer exclusive driveway. But for investment purpose, these area are considered wasteful areas. Exceptions are for the ultra rich who would appreciate it.

Can check out on developing your landed property here. Especially on setbacks.

http://www.ura.gov.sg/homeowner/overview.htm

http://www.ura.gov.sg/circulars/text/dcdrhb_d0e4.htm

http://www.ura.gov.sg/circulars/text/dchandbook.html

Localite
31-03-10, 11:44
Need expert advice on landed property investment. Is a regular shaped land, i.e. squarish or rectangular, critical in the purchase of landed property? What do you guys think if the property is sitting on a 'L' shape land? What is the impact on the valuation of the property in future if I wish to get rid of it? Thanks.

The issue with L shaped land is that you cannot expand the house foot print as if it is regular shaped. The L shaped appendage can only be a garden or pool - so restricted. Just like PES in condo, you cannot simply add it. What you should do is remove the L-shaped portion and discount it - say 50% - before you add it.

Condorich
31-03-10, 11:52
The issue with L shaped land is that you cannot expand the house foot print as if it is regular shaped. The L shaped appendage can only be a garden or pool - so restricted. Just like PES in condo, you cannot simply add it. What you should do is remove the L-shaped portion and discount it - say 50% - before you add it.

That's one way and a common way even for condo's PES. You might want to consider the price to pay for the square shape and consider the absolute quantum for that wasteful L space. That's another way.

The solution, buy surrounding land and make it more rectangle or squarish. Avoid triangle shape.

Blue
31-03-10, 14:59
Think its too late to buy a landed property now as prices has really gone up to high in too short a time!:doh:

Land is still considered cheap but it's the rebuilt cost that makes the price of new landed houses high.

Condorich
31-03-10, 16:55
Land is still considered cheap but it's the rebuilt cost that makes the price of new landed houses high.

Can use this map to check for land info. Under Hybrid. Quite neat!

http://www.onemap.sg/index.html

2824
31-03-10, 18:03
saw a few new corner terraces with triangular build up due to the triangular land parcel along serangoon garden way. Guess they are trying to maximise the build up.

Condorich
31-03-10, 19:32
Here is FEO's advertisement for Katong Seaview Palace where Lucky Heights is located. :cheers1:

Booking fee only $500! :scared-4: No need to throw blank cheque. :p

http://i305.photobucket.com/albums/nn211/jlrx_bucket/KatongSeaviewPalace19670314.jpg

http://www.ilovesingaporeproperty.com/photos/2009-1016-1-cover.jpghttp://img1.classistatic.com/cps/kj/091122/543r4/0328f7m_19.jpeg

To give some perspective to the earning power then. Please refer to this

http://stars.nhb.gov.sg/stars/tmp/lky19730320.pdf 20 Mar 1973 - In Parliament

It is 18 years, since 1955, when the salary for the post of Chief Minister, and subsequently Prime Minister, was fixed at $3,500

Do you know their salary now?

http://www.channelnewsasia.com/stories/singaporelocalnews/view/269330/1/.html

President SR Nathan will get $3.2 million dollars, this is up from the current $2.5 million while both Senior Minister Goh Chok Tong and Minister Mentor Lee Kuan Yew who earned $2.7 million each last year, will now get paid $3.04 million each.

jlrx
31-03-10, 23:29
To give some perspective to the earning power then. Please refer to this

http://stars.nhb.gov.sg/stars/tmp/lky19730320.pdf 20 Mar 1973 - In Parliament

It is 18 years, since 1955, when the salary for the post of Chief Minister, and subsequently Prime Minister, was fixed at $3,500

Do you know their salary now?

http://www.channelnewsasia.com/stories/singaporelocalnews/view/269330/1/.html

President SR Nathan will get $3.2 million dollars, this is up from the current $2.5 million while both Senior Minister Goh Chok Tong and Minister Mentor Lee Kuan Yew who earned $2.7 million each last year, will now get paid $3.04 million each.

This just shows that properties are actually becoming more and more affordable.

In 1970, a Katong Seaview Palace semi-detached at Lucky Crescent was asking $90,000 but the President was earning only $4,000 per month (or $48,000 per year) so it would have taken the President 1.9 years of salary to buy this house at 41, Lucky Crescent.

http://i305.photobucket.com/albums/nn211/jlrx_bucket/KatongSeaviewPalaceLuckyCrescent-1.jpg

Today, an equivalent semi-detached (49 Lucky Heights) was transacted at $3.8 million on 28 Dec 2009 but the President is earning $3.2 million per year. So it would take the President only 1.2 years of salary to buy an equivalent house.

The President's salary is one of the best benchmarks to use because there is only one President (we can also use the Prime Minister or Ministers, or the any other job with a limited number).

What many people have wrongly done to claim that properties have become unaffordable is to use graduates' pay as a benchmark.

There are 40 times as many graduates today as in the past but instead of seeing their pay reduced by 40 times because that would have caused a riot, what happened was that property prices went up by 40 times.

However, there is no change to the type of house(s) owned by the top doctor in each field, top lawyer in each major law firm, or top towkay in each business, compared to 40 years ago.

proud owner
31-03-10, 23:41
This just shows that properties are actually becoming more and more affordable.

In 1970, a Katong Seaview Palace semi-detached at Lucky Crescent was asking $90,000 but the President was earning only $4,000 per month (or $48,000 per year) so it would have taken the President 1.9 years of salary to buy this house at 41, Lucky Crescent.

http://i305.photobucket.com/albums/nn211/jlrx_bucket/KatongSeaviewPalaceLuckyCrescent-1.jpg

Today, an equivalent semi-detached (49 Lucky Heights) was transacted at $3.8 million on 28 Dec 2009 but the President is earning $3.2 million per year. So it would take the President only 1.2 years of salary to buy an equivalent house.

The President's salary is one of the best benchmarks to use because there is only one President (we can also use the Prime Minister or Ministers, or the any other job with a limited number).

What many people have wrongly done to claim that properties have become unaffordable is to use graduates' pay as a benchmark.

There are 40 times as many graduates today as in the past but instead of seeing their pay reduced by 40 times because that would have caused a riot, what happened was that property prices went up by 40 times.

However, there is no change to the type of house(s) owned by the top doctor in each field, top lawyer in each major law firm, or top towkay in each business, compared to 40 years ago.


by the way ... almost every country is making adjustments to their bonus pay out to bankers ...

are our ministers bonus being reviewed ?

Condorich
01-04-10, 04:29
This just shows that properties are actually becoming more and more affordable.

In 1970, a Katong Seaview Palace semi-detached at Lucky Crescent was asking $90,000 but the President was earning only $4,000 per month (or $48,000 per year) so it would have taken the President 1.9 years of salary to buy this house at 41, Lucky Crescent.

http://i305.photobucket.com/albums/nn211/jlrx_bucket/KatongSeaviewPalaceLuckyCrescent-1.jpg

Today, an equivalent semi-detached (49 Lucky Heights) was transacted at $3.8 million on 28 Dec 2009 but the President is earning $3.2 million per year. So it would take the President only 1.2 years of salary to buy an equivalent house.

The President's salary is one of the best benchmarks to use because there is only one President (we can also use the Prime Minister or Ministers, or the any other job with a limited number).

What many people have wrongly done to claim that properties have become unaffordable is to use graduates' pay as a benchmark.

There are 40 times as many graduates today as in the past but instead of seeing their pay reduced by 40 times because that would have caused a riot, what happened was that property prices went up by 40 times.

However, there is no change to the type of house(s) owned by the top doctor in each field, top lawyer in each major law firm, or top towkay in each business, compared to 40 years ago.

You never fail to impress me. However, I would not agree with your example. Do not take 1% of the population and apply it to the rest of the population. Maybe a further 10% to 20% the most (since >80% of Singaporeans stay in HDB).

When we talk about affordabilty, fresh graduates pay are usually used and that the prices of new HDB is the subject of study, not landed.

But you have your point about the rich, they are simply getting richer.

focus
01-04-10, 11:49
by the way ... almost every country is making adjustments to their bonus pay out to bankers ...

are our ministers bonus being reviewed ?


Yup. Probbaly reviewing to the upside as they have lead singapore out of recession and wealth is being created in the stock market & Property & COEs. :)

Ho Ching also need to be rewarded with another President's badge or something like that for her role in bringing Temasek out of the pits.

proud owner
01-04-10, 12:10
Yup. Probbaly reviewing to the upside as they have lead singapore out of recession and wealth is being created in the stock market & Property & COEs. :)

Ho Ching also need to be rewarded with another President's badge or something like that for her role in bringing Temasek out of the pits.


i cant help but think that ang mo guy who led temasek briefly then resigned ... was an interim man ..while she 'stay out' to avoid the blame ..of buying those banks and so high price and later sell and cut loss ..

now shes back

jlrx
02-04-10, 03:03
You never fail to impress me. However, I would not agree with your example. Do not take 1% of the population and apply it to the rest of the population. Maybe a further 10% to 20% the most (since >80% of Singaporeans stay in HDB).

When we talk about affordabilty, fresh graduates pay are usually used and that the prices of new HDB is the subject of study, not landed.

But you have your point about the rich, they are simply getting richer.

It does not make a difference whether a further 10% or 20% or even 100% of the population is considered.

Property prices can increase but never become more unaffordable vis-a-vis each segment of the population, because the percentage of each type of housing has remained roughly unchanged through the decades.

Property becomes more unaffordable only because of human hallucination. Once the hallucination is removed, then prices become very affordable.

For example, a 75th percentile GP (out of approximately 4,000) should compare himself with a senior nursing officer in the 1960's, when there were fewer than 1,000 doctors in Singapore, because that would be what he would have been in the 1960's.

This GP (estimated earning $15,000 per month) will then find the house his stays in very affordable as it is the same type of house that a senior nursing officer would stay in the 1960's (probably an RCR intermediate terrace or a CCR condo).

However, if this doctor hallucinates that he should afford (based on his own earning power rather than inheritance) the same GCB that his father who was just an average GP (50th percentile and lower than the son) in the 1960s could afford, then of course he will complain that properties have become unaffordable.

That's why I prefer to use as benchmarks jobs that do not suffer from numerical inflation, e.g. President, Prime Minister, Ministers, bank CEOs, the top-earning doctor in each specialty, the top partner in each major law firm, the top towkay in each business (I think we have one here who owns 40+ properties!) :scared-4:

http://forums.condosingapore.com/showpost.php?p=88811&postcount=38

Localite
02-04-10, 10:15
[quote=jlrx]It does not make a difference whether a further 10% or 20% or even 100% of the population is considered.

Property prices can increase but never become more unaffordable vis-a-vis each segment of the population, because the percentage of each type of housing has remained roughly unchanged through the decades.

Property becomes more unaffordable only because of human hallucination. Once the hallucination is removed, then prices become very affordable.

For example, a 75th percentile GP (out of approximately 4,000) should compare himself with a senior nursing officer in the 1960's, when there were fewer than 1,000 doctors in Singapore, because that would be what he would have been in the 1960's.

This GP (estimated earning $15,000 per month) will then find the house his stays in very affordable as it is the same type of house that a senior nursing officer would stay in the 1960's (probably an RCR intermediate terrace or a CCR condo).

However, if this doctor hallucinates that he should afford (based on his own earning power rather than inheritance) the same GCB that his father who was just an average GP (50th percentile and lower than the son) in the 1960s could afford, then of course he will complain that properties have become unaffordable.

************


IMHO I believe ppty can indeed become less affordable even if you view the percentile rankings. A 10% top percentile earner may find a property less affordable now that 30 years ago. For example there is a limited number of GCBs, 2,500 would mean you needed to be in top 1% now but perhaps a 5% would have been sufficient 30 years ago.

In a demographically advancing country like Singapore you might be caught with a double-whammy price increases. One due to real economic increase (which as you said does not really affect affordability) and the second factor due to population increase and change of population mix.

Any thoughts?

Condorich
02-04-10, 10:57
That's for his comments. Just some thoughts.

Rich are getting richer because they were already rich to begin with and what they own before can be sold at a much higher price than what they paid in the past. They could then use the money to buy some more (smaller/cheaper) properties and the cycle continues.

The poor or the average folks will never be in the same league.. They have problems meeting the living expenses or at best be middle income earners. These folks would never be in the same league, unless they break free like George Quek (Breadtalk).

The social divide is clearly evident there, also in many parts of the world.. take Indonesia for example... rich are filthy rich. The poor.....?

A true measure of afforablibity should be a function of household income and not GDP. Though there may be some correlation but it is never a direct correlation. Who cares when the GDP is no 1 in the world but your household income is last in the country.

:banghead:

Your GP = Doctor = General Practicioner.
My GDP = Gross Domestic Product.

jlrx
02-04-10, 17:46
IMHO I believe ppty can indeed become less affordable even if you view the percentile rankings. A 10% top percentile earner may find a property less affordable now that 30 years ago. For example there is a limited number of GCBs, 2,500 would mean you needed to be in top 1% now but perhaps a 5% would have been sufficient 30 years ago.

In a demographically advancing country like Singapore you might be caught with a double-whammy price increases. One due to real economic increase (which as you said does not really affect affordability) and the second factor due to population increase and change of population mix.

Any thoughts?

Thanks to Mickeymousation http://static.squidoo.com/resize/squidoo_images/50/lens1556032_MickeyMouseB_W.jpg, the number of GCBs did increase over the years, although not as a percentage of total housing stock.

We see 160,000 sq ft bungalows carved into ten 16,000 sq ft good class bungalows; and 16,000 sq ft bungalows in non GCB areas carved into 8 semi-detaches on 2,000 sq ft land each but 6,000 sq ft of built-in space.

Thanks to Mickeymousation http://www.famouswhy.com/ddd/images/lists/thumbs_small/Mickey_Mouse.jpeg more people can now claim that they stay at "Sixth Avenue" (remember not to ask them whether it's an apartment or a bungalow).

Also, more people can now claim that they stay at district 9, 10 and 11 (remember not to ask how many square inches).

Very soon, everyone can claim to own a private property! :scared-4:

As a nation, it is unavoidable that our abode became smaller when the population increased from 1.6 million in 1960 to 4.98 million in 2009.

However, if you do not mind the size of your abode and consider a GCB a GCB whether it's 150,000 sq ft or 15,000 sq ft; and a district 9 condo a district 9 condo whether it is 2,000 sq ft or 2,000 sq inches, then housing has remained affordable.

There is actually a lot of money to be made from this! Next time when you buy a property, spend less time looking at the fixtures and more time looking at the land.

Just look at my tagline below ... see who has arrived? http://bedding.awestores.com/images/MickeyMouseBeddingButton.jpg

Condorich
02-04-10, 18:24
As a nation, it is unavoidable that our abode became smaller when the population increased from 1.6 million in 1960 to 4.98 million in 2009.

There is actually a lot of money to be made from this! Next time when you buy a property, spend less time looking at the fixtures and more time looking at the land.



Yup FH land... your cat out of the bag again. Our population will reach 6.5 million in 201X?

jlrx
03-04-10, 03:11
Yup FH land... your cat out of the bag again. Our population will reach 6.5 million in 201X?

http://www.petfinder.com/images/pet-training/cat-bag-150-120.jpg

The cat is already out of the bag, otherwise I won't be posting in this "landed" thread. :p

I could be suffering from "retribution" for preaching PROPERTISM here, that's why I had been unsuccessful in searching for another landed property over the past few months.

Maybe some of the owners had been reading this forum and saw my posts that "property prices will always go up in the long term hence properties should only be bought and not sold" so some of them withdrew their properties from the market, while others jacked up the price sky high. :scared-3:

The paradox of PROPERTISM is that as prices shot through the roof, I could afford to buy only smaller and smaller properties, until eventually I may just have to sit back and become a spectator. :scared-5:

Look at the following three houses (transactions from SISV based on URA data, and photos from Google Maps Street View).

http://i305.photobucket.com/albums/nn211/jlrx_bucket/SeletarHills20100402.jpg

http://i305.photobucket.com/albums/nn211/jlrx_bucket/SeletarHillsJalanJarak153.jpg

http://i305.photobucket.com/albums/nn211/jlrx_bucket/Kingswear44.jpg

http://i305.photobucket.com/albums/nn211/jlrx_bucket/KingswearAvenue44.jpg

http://i305.photobucket.com/albums/nn211/jlrx_bucket/ThomsonGardenEstate138.jpg

http://i305.photobucket.com/albums/nn211/jlrx_bucket/ThomsonGardenEstateSinMingRoad138.jpg

azeoprop
03-04-10, 10:18
Still remembered last time in the late 80s my parents were looking at buying Fudu park and President gardens when they were first released. President gardens was very "old" for a new release, with algae on the walls, but the land area was very huge. Fudu was brand new, I still remembered the launch price was like below 500k......but end up never buy. :doh:

Eventually moved to Mayflower gardens feeding mosquitos everyday for 2 years. :doh:

Reporter
04-04-10, 17:05
D15 landed hitting $1,734psf!
LANDED HOUSING DEVELOPMENT JOO CHIAT PLACE Terrace House 1 2,680,000 1,546 Land 1,734 Mar-10
And.. Koon Seng Road... Heritage 9.. at $1.4K psf without a parking lot?? Is this correct?
$1,734 psf for District-15 landed?

jlrx
05-04-10, 00:49
$1,734 psf for District-15 landed?

Possible. Look at Blue's post below.


Even Serangoon Garden brand new landed houses already selling above $1000 land psf...opera estate should be higher..

Bgt my landed in Katong (D15) at $1400 land psf!!! But it's newly rebuilt. I'm a happy man! :)

Did a search in URA, highest land psf in D15 was $1950 psf in Tembeling Road, Katong! :cool:

moneyspinner
05-04-10, 10:46
The prices for landed at D15 has now caught up with D10 and D11? Unbelievable!:scared-1: So now those at D10 and D11 landed are better buys isn't it???????????:scared-4:


Originally Posted by Blue
Even Serangoon Garden brand new landed houses already selling above $1000 land psf...opera estate should be higher..

Bgt my landed in Katong (D15) at $1400 land psf!!! But it's newly rebuilt. I'm a happy man! :)

Did a search in URA, highest land psf in D15 was $1950 psf in Tembeling Road, Katong! :cool:

bargain hunter
05-04-10, 11:25
http://www.petfinder.com/images/pet-training/cat-bag-150-120.jpg

The cat is already out of the bag, otherwise I won't be posting in this "landed" thread. :p

I could be suffering from "retribution" for preaching PROPERTISM here, that's why I had been unsuccessful in searching for another landed property over the past few months.

Maybe some of the owners had been reading this forum and saw my posts that "property prices will always go up in the long term hence properties should only be bought and not sold" so some of them withdrew their properties from the market, while others jacked up the price sky high. :scared-3:

The paradox of PROPERTISM is that as prices shot through the roof, I could afford to buy only smaller and smaller properties, until eventually I may just have to sit back and become a spectator. :scared-5:

Look at the following three houses (transactions from SISV based on URA data, and photos from Google Maps Street View).

http://i305.photobucket.com/albums/nn211/jlrx_bucket/SeletarHills20100402.jpg

http://i305.photobucket.com/albums/nn211/jlrx_bucket/SeletarHillsJalanJarak153.jpg

http://i305.photobucket.com/albums/nn211/jlrx_bucket/Kingswear44.jpg

http://i305.photobucket.com/albums/nn211/jlrx_bucket/KingswearAvenue44.jpg

http://i305.photobucket.com/albums/nn211/jlrx_bucket/ThomsonGardenEstate138.jpg

http://i305.photobucket.com/albums/nn211/jlrx_bucket/ThomsonGardenEstateSinMingRoad138.jpg


but for the 1st house, its likely that it has been rebuilt (google images are 1 to 2 years ago pictures it seems)? the thing about these historical data is that it doesn't take into account changes (whether just simple renovation or complex tear down and rebuild) unlike condos where not much can be changed except for interior.

bargain hunter
05-04-10, 11:31
doesn't work that way lah. u have to go down and view each house individually to decide which is good value. the wide variety of prices is due to the wide variety of factors to consider. :) condo prices are more easily comparable if u want to see which price has caught up with what.




The prices for landed at D15 has now caught up with D10 and D11? Unbelievable!:scared-1: So now those at D10 and D11 landed are better buys isn't it???????????:scared-4:


Originally Posted by Blue
Even Serangoon Garden brand new landed houses already selling above $1000 land psf...opera estate should be higher..

Bgt my landed in Katong (D15) at $1400 land psf!!! But it's newly rebuilt. I'm a happy man! :)

Did a search in URA, highest land psf in D15 was $1950 psf in Tembeling Road, Katong! :cool:

jsh
05-04-10, 11:40
[quote=jlrx]http://www.petfinder.com/images/pet-training/cat-bag-150-120.jpg

The cat is already out of the bag, otherwise I won't be posting in this "landed" thread. :p

I could be suffering from "retribution" for preaching PROPERTISM here, that's why I had been unsuccessful in searching for another landed property over the past few months.

Maybe some of the owners had been reading this forum and saw my posts that "property prices will always go up in the long term hence properties should only be bought and not sold" so some of them withdrew their properties from the market, while others jacked up the price sky high. :scared-3:

The paradox of PROPERTISM is that as prices shot through the roof, I could afford to buy only smaller and smaller properties, until eventually I may just have to sit back and become a spectator. :scared-5:

Look at the following three houses (transactions from SISV based on URA data, and photos from Google Maps Street View).

http://i305.photobucket.com/albums/nn211/jlrx_bucket/SeletarHills20100402.jpg

http://i305.photobucket.com/albums/nn211/jlrx_bucket/SeletarHillsJalanJarak153.jpg







[/quote

For the info of forummers no. 153 jalan jarak has been completely rebuilt into a detached house. Its brand new. Thats why it managed to fetch 3.45m which i think is a fair price considering that the facing & layout of the land is not so good.

moneyspinner
05-04-10, 11:57
doesn't work that way lah. u have to go down and view each house individually to decide which is good value. the wide variety of prices is due to the wide variety of factors to consider. :) condo prices are more easily comparable if u want to see which price has caught up with what.

I thought location is still the primary factor of consideration regardless of whether its landed or not? So location wise, say, for eg Bukit Timah area should be better than say, Katong area, right? Hence, landed properties in Bukit Timah should normally worth more, of course taking into account condition of the house, land size, shape, built up area, proximity to good schools, the neighbourhood, etc.............

bargain hunter
05-04-10, 12:04
For the info of forummers no. 153 jalan jarak has been completely rebuilt into a detached house. Its brand new. Thats why it managed to fetch 3.45m which i think is a fair price considering that the facing & layout of the land is not so good.


thanks for the clarification. that's good info. the land looks more like those triangle shaped ones from the picture.

bargain hunter
05-04-10, 12:07
yes, that's true in general, but the thing with landed is it is much more difficult to generalise than condos. the location may be good, but maybe the land is oddshaped? maybe at a cross junction? as compared to one in east coast, maybe with a seaview or at a quiet cul de sac? too many factors already so its hard to say that prices in D15 has actually caught up with D9, 10 and 11 based on the transactions described.




I thought location is still the primary factor of consideration regardless of whether its landed or not? So location wise, say, for eg Bukit Timah area should be better than say, Katong area, right? Hence, landed properties in Bukit Timah should normally worth more, of course taking into account condition of the house, land size, shape, built up area, proximity to good schools, the neighbourhood, etc.............

jlrx
05-04-10, 17:47
For the info of forummers no. 153 jalan jarak has been completely rebuilt into a detached house. Its brand new. Thats why it managed to fetch 3.45m which i think is a fair price considering that the facing & layout of the land is not so good.
thanks for the clarification. that's good info. the land looks more like those triangle shaped ones from the picture.

That must be the "good work" of many mini-developers who are descending into the three estates above to convert old houses into new ones.

The second photo shows 44 Kingswear Ave being rebuilt (but still stay as single storey).

I was also thinking of being a "mini developer" but unfortunately there are just too many people with the same idea.

Looks like everyone, big or small, wants to become a "developer" these days. :scared-5:

bargain hunter
05-04-10, 20:34
yes, but the really experienced guys move really fast and get news of all the cheap land really fast. no place for us to be mini developers at all. :mad:





That must be the "good work" of many mini-developers who are descending into the three estates above to convert old houses into new ones.

The second photo shows 44 Kingswear Ave being rebuilt (but still stay as single storey).

I was also thinking of being a "mini developer" but unfortunately there are just too many people with the same idea.

Looks like everyone, big or small, wants to become a "developer" these days. :scared-5:

moneyspinner
05-04-10, 20:43
yes, but the really experienced guys move really fast and get news of all the cheap land really fast. no place for us to be mini developers at all. :mad:

I agree. Just recently, I was trying to get an old detached bungalow at Coronation Road priced at about S$1,ooo psf with the intention of doing an A & A and reselling it. Guess what, on the night before the open house the next the day, I was told by the agent that it was sold!:doh: :scared-4:

bargain hunter
05-04-10, 20:58
sure sounds like a good deal with a good chance of making money. no wonder its not for us again. :(


I agree. Just recently, I was trying to get an old detached bungalow at Coronation Road priced at about S$1,ooo psf with the intention of doing an A & A and reselling it. Guess what, on the night before the open house the next the day, I was told by the agent that it was sold!:doh: :scared-4:

jlrx
06-04-10, 00:31
yes, but the really experienced guys move really fast and get news of all the cheap land really fast. no place for us to be mini developers at all. :mad:
I agree. Just recently, I was trying to get an old detached bungalow at Coronation Road priced at about S$1,ooo psf with the intention of doing an A & A and reselling it. Guess what, on the night before the open house the next the day, I was told by the agent that it was sold!:doh: :scared-4:

The market is now moving very very fast. :scared-3:

I just experienced that in my most recent purchase. :scared-3:

It's almost like the last helicopter out of Saigon ...

HERE TAKE MY MONEY!!! TAKE IT!!! TAKE IT!!!

http://www.acepilots.com/vietnam/saigon_helicopter.jpg

Blue
07-04-10, 12:30
The prices for landed at D15 has now caught up with D10 and D11? Unbelievable!:scared-1: So now those at D10 and D11 landed are better buys isn't it???????????:scared-4:


Originally Posted by Blue
Even Serangoon Garden brand new landed houses already selling above $1000 land psf...opera estate should be higher..

Bgt my landed in Katong (D15) at $1400 land psf!!! But it's newly rebuilt. I'm a happy man! :)

Did a search in URA, highest land psf in D15 was $1950 psf in Tembeling Road, Katong! :cool:

Bec of the recent en-bloc sale at Fort Road for a stretch of terrace houses, the new record high in D15 is $2329 land psf as caveated in URA.

D9 record high is $4111 land psf at Emerald Hill :scared-1:

D10 record high is $1972 land psf at Holland Road.

D11 record high is $2012 land psf at Barker Road.

D19 record high is $1226 land psf at Golden Walk.

By the way, "record high" means for the recent past 1 yr of caveat lodge cos data is taken from URA.

Land psf is taken into account of rebuilt / reconstruction costs + land costs, then divide by the land size. It can fluctuate depending on built up design and built up size. But rebuilt cost is the same regardless of location / districts. So this data is a good indicator of brand new landed houses psf rather than purely land psf / prices. A piece of vacant land is useless unless it is built up and put into good use.

A friend of mine was selling vacant land plots in Canada few years ago. Not very lucrative though. :D

Reporter
07-04-10, 21:22
Bec of the recent en-bloc sale at Fort Road for a stretch of terrace houses, the new record high in D15 is $2329 land psf as caveated in URA.

D9 record high is $4111 land psf at Emerald Hill :scared-1:

D10 record high is $1972 land psf at Holland Road.

D11 record high is $2012 land psf at Barker Road.

D19 record high is $1226 land psf at Golden Walk.

By the way, "record high" means for the recent past 1 yr of caveat lodge cos data is taken from URA.

Land psf is taken into account of rebuilt / reconstruction costs + land costs, then divide by the land size. It can fluctuate depending on built up design and built up size. But rebuilt cost is the same regardless of location / districts. So this data is a good indicator of brand new landed houses psf rather than purely land psf / prices. A piece of vacant land is useless unless it is built up and put into good use.

A friend of mine was selling vacant land plots in Canada few years ago. Not very lucrative though. :D$4,111 psf done in March 2010 for that District-9 Emerald Hill landed? This bull has just started its run!

Localite
09-04-10, 19:06
Hi everyone. I am looking to buy a landed property at Bukit Timah. Any idea what is the psf range that I should budget for a 3000 sqft semid?

Prices seem to have sky rocketted from a year back. I see ads for D21 (Sian Tuan / Binjai area) asking 1200 psf just for land. Are these prices realistic?

moneyspinner
09-04-10, 21:05
Hi everyone. I am looking to buy a landed property at Bukit Timah. Any idea what is the psf range that I should budget for a 3000 sqft semid?

Prices seem to have sky rocketted from a year back. I see ads for D21 (Sian Tuan / Binjai area) asking 1200 psf just for land. Are these prices realistic?

Market supply and demand. Spoken to some agents, apparently some developers feels that land prices in D9/D10/D11 may hit S$1,700 to S$1,800 psf by end of this year. This remains to be seen. But looks like landed property is the in thing now!!!!!!!!!!:doh:

bargain hunter
09-04-10, 22:52
in the watten area, a very old corner terrace (likely for rebuild) of slightly above 3000 sq ft transacted at 3.38m last month. So that's 1089psf. Perhaps Sian Tuan may be slightly cheaper, so if the ask for the land is 1200psf, its normal, as you can try to negotiate. If you add in the cost of rebuild (that portion likely in cash), then you will need a budget in excess of $4m.




Hi everyone. I am looking to buy a landed property at Bukit Timah. Any idea what is the psf range that I should budget for a 3000 sqft semid?

Prices seem to have sky rocketted from a year back. I see ads for D21 (Sian Tuan / Binjai area) asking 1200 psf just for land. Are these prices realistic?

jlrx
10-04-10, 02:11
in the watten area, a very old corner terrace (likely for rebuild) of slightly above 3000 sq ft transacted at 3.38m last month. So that's 1089psf. Perhaps Sian Tuan may be slightly cheaper, so if the ask for the land is 1200psf, its normal, as you can try to negotiate. If you add in the cost of rebuild (that portion likely in cash), then you will need a budget in excess of $4m.

Are you referring to 2, Watten Close?

http://i305.photobucket.com/albums/nn211/jlrx_bucket/WattenClose2Caveat20100323.jpg

http://i305.photobucket.com/albums/nn211/jlrx_bucket/WattenClose2.jpg

It's scary! :scared-1:

I mean the price.


Market supply and demand. Spoken to some agents, apparently some developers feels that land prices in D9/D10/D11 may hit S$1,700 to S$1,800 psf by end of this year. This remains to be seen. But looks like landed property is the in thing now!!!!!!!!!!:doh:

Nowadays I'm getting "Landed Property Anxiety Syndrome". :scared-3:

I have a feeling it's reaching the "All Hell Break Loose" tipping point similar to COEs, but with such high asking price, I've got not enough money to buy another one. :(

And I don't know whether to feel happy or sad. :scared-5:

Localite
10-04-10, 13:59
in the watten area, a very old corner terrace (likely for rebuild) of slightly above 3000 sq ft transacted at 3.38m last month. So that's 1089psf. Perhaps Sian Tuan may be slightly cheaper, so if the ask for the land is 1200psf, its normal, as you can try to negotiate. If you add in the cost of rebuild (that portion likely in cash), then you will need a budget in excess of $4m.

Could semid and terrace of similar size command similar psf? I would guess semid would command a premium because of the perceived higher status.

I guess similarly bungalow will command a premium over semid for similar size. am i correct?

Condorich
11-04-10, 02:44
Could semid and terrace of similar size command similar psf? I would guess semid would command a premium because of the perceived higher status.

I guess similarly bungalow will command a premium over semid for similar size. am i correct?

Not necessary so. There are other important attributes to derive the final price. For example
a) Corner unit
b) Location
c) Age and Condition of the house
d) Design
e) Proximity to M.R.T
f) Neighbours
g) Pools?
h) LH/FH etc
i) Any other significant attributes.

These are called factors to consider and they are considered all together. When the considerations are mixed, you cannot apply the simple rule above.

i.e Same land size for
a) Bungalow in Changi
b) Semi-D in D9
Ans = Semi D is priced higher

a) LH Bungalow versus
c) FH Semi-D
Ans = FH Semi-D is priced higher

However, there are indeed some premium placed for Bungalow over Semi D. The question is... what are all other factors to be considered that will allow a buyer to derive the fair final pricing.

But it remain as a fact that Bungalow may not be more expansive than a Semi D and vice versa. Hope this helps

jlrx
11-04-10, 02:51
Could semid and terrace of similar size command similar psf? I would guess semid would command a premium because of the perceived higher status.

I guess similarly bungalow will command a premium over semid for similar size. am i correct?

I'm still trying to figure that out.

In theory that should be the case, but the problem with landed houses is that they are too different from one another.

There are too many factors to consider like shape of land, whether near junction and what type of junction, elevation, facing, age, plot ratio, height restriction, existing number of storeys etc. :doh:

Bungalows also tend to have bigger land area than semi-detaches, which in turn are bigger than terraces, making it very difficult to find two of similar size. :doh:

On top of that, due to the large land area, the number of transactions within each estate is much fewer compared to condos and by the time I get two comparable caveats, the time is already different. :doh:

You can see the following 4,038 sq ft bungalow in Watten Estate at 5, Watten View being transacted at $3.3 million or $817 psf but that was almost one year ago on 14 Apr 2009.

If we compare on psf basis, old house to old house, the value of land has increased 33% in the past year from $817 psf (5, Watten View) to $1,089 psf (2, Watten Close). :scared-5:

You could actually get a bigger house which is a bungalow in April 2009 at a lower price than a smaller house which is a corner terrace in Mar 2010. :scared-4:

http://i305.photobucket.com/albums/nn211/jlrx_bucket/WattenView5Caveat20090414.jpg

http://i305.photobucket.com/albums/nn211/jlrx_bucket/WattenView5.jpg

Condorich
11-04-10, 03:32
jlrx my idol!!! Good and valuable posts plenty...

:)

proud owner
11-04-10, 09:46
Not necessary so. There are other important attributes to derive the final price. For example
a) Corner unit
b) Location
c) Age and Condition of the house
d) Design
e) Proximity to M.R.T
f) Neighbours
g) Pools?
h) LH/FH etc
i) Any other significant attributes.

These are called factors to consider and they are considered all together. When the considerations are mixed, you cannot apply the simple rule above.

i.e Same land size for
a) Bungalow in Changi
b) Semi-D in D9
Ans = Semi D is priced higher

a) LH Bungalow versus
c) FH Semi-D
Ans = FH Semi-D is priced higher

However, there are indeed some premium placed for Bungalow over Semi D. The question is... what are all other factors to be considered that will allow a buyer to derive the fair final pricing.

But it remain as a fact that Bungalow may not be more expansive than a Semi D and vice versa. Hope this helps

agree totally

i have seen Semi D's with land size of a mere 2400 sqft .. and corner terrace of 3600 sqft

i will take the corner anytime .. assuming all other factors are the same


for a semi of land less than 4500 sqft .. i wont consider ...

for a corner of land bigger than 2300 sqft is better

moneyspinner
11-04-10, 09:50
As a rule of thumb, just wondering which area of the following would be a generally more preferred location:

1. Coronation/Duchess
2. Watten/Hillcrest/Greenwood
3. Mount Sinai/Holland
4. Sixth Avenue/Namly
5. Binjai
6. Kheam Hock/University Road

DC33_2008
11-04-10, 10:15
As a rule of thumb, just wondering which area of the following would be a generally more preferred location:

1. Coronation/Duchess
2. Watten/Hillcrest/Greenwood
3. Mount Sinai/Holland
4. Sixth Avenue/Namly
5. Binjai
6. Kheam Hock/University Road

Do you want to be near the Who is Who of Singapore?

moneyspinner
11-04-10, 10:20
Do you want to be near the Who is Who of Singapore?

I don't mind if I can afforrd it. :)

DC33_2008
11-04-10, 10:35
I don't mind if I can afforrd it. :)

Look for houses near SIM Bukit Timah campus.

bargain hunter
11-04-10, 14:58
yup, that's the one. For sure tear down and rebuild. :D So that's clearly the land cost.

I think you should feel sad. As a long term investor, you have no intention to sell as you want to hold forever and you should be an accumulator whenever you have cash. So you should be crying when prices go up, not feeling panicky like you did last year when prices go down. Warren Bufett is a long term investor for stocks. He buys regardless of market conditions and hopes he never needs to sell. You want to do the same for properties, as that is what you believe in. So why would you be happy if prices are going up faster than you are earning/generating cash?


Are you referring to 2, Watten Close?

http://i305.photobucket.com/albums/nn211/jlrx_bucket/WattenClose2Caveat20100323.jpg

http://i305.photobucket.com/albums/nn211/jlrx_bucket/WattenClose2.jpg

It's scary! :scared-1:

I mean the price.



Nowadays I'm getting "Landed Property Anxiety Syndrome". :scared-3:

I have a feeling it's reaching the "All Hell Break Loose" tipping point similar to COEs, but with such high asking price, I've got not enough money to buy another one. :(

And I don't know whether to feel happy or sad. :scared-5:

bargain hunter
11-04-10, 15:10
i think the rise in land price you quoted is reasonable. 1 transaction at the bottom of the market and the other being the most recent and both are obvious tear down and rebuild candidates. The problem is there are hardly any transactions in between, so rare to have decent sized land in that area come up for sale. :mad:

now, if we compare that rise in prices with condos, its about the same, you can see similar comparable transactions and % gains in condo prices so everything moving along with market so far.





I'm still trying to figure that out.

In theory that should be the case, but the problem with landed houses is that they are too different from one another.

There are too many factors to consider like shape of land, whether near junction and what type of junction, elevation, facing, age, plot ratio, height restriction, existing number of storeys etc. :doh:

Bungalows also tend to have bigger land area than semi-detaches, which in turn are bigger than terraces, making it very difficult to find two of similar size. :doh:

On top of that, due to the large land area, the number of transactions within each estate is much fewer compared to condos and by the time I get two comparable caveats, the time is already different. :doh:

You can see the following 4,038 sq ft bungalow in Watten Estate at 5, Watten View being transacted at $3.3 million or $817 psf but that was almost one year ago on 14 Apr 2009.

If we compare on psf basis, old house to old house, the value of land has increased 33% in the past year from $817 psf (5, Watten View) to $1,089 psf (2, Watten Close). :scared-5:

You could actually get a bigger house which is a bungalow in April 2009 at a lower price than a smaller house which is a corner terrace in Mar 2010. :scared-4:

http://i305.photobucket.com/albums/nn211/jlrx_bucket/WattenView5Caveat20090414.jpg

http://i305.photobucket.com/albums/nn211/jlrx_bucket/WattenView5.jpg

bargain hunter
11-04-10, 15:15
the experts have already given you the answer. there are just too many factors to consider. :scared-3: frankly, in today's market, corner terrace is fine too. :) how else was 2 watten close able to sell at land price of 1089psf? LOL. :D market no longer differentiates between corner terrace, semi-d or bunglow it appears. :doh:



Could semid and terrace of similar size command similar psf? I would guess semid would command a premium because of the perceived higher status.

I guess similarly bungalow will command a premium over semid for similar size. am i correct?

jlrx
12-04-10, 00:48
I think you should feel sad. As a long term investor, you have no intention to sell as you want to hold forever and you should be an accumulator whenever you have cash. So you should be crying when prices go up, not feeling panicky like you did last year when prices go down. Warren Bufett is a long term investor for stocks. He buys regardless of market conditions and hopes he never needs to sell. You want to do the same for properties, as that is what you believe in. So why would you be happy if prices are going up faster than you are earning/generating cash?

After analysing your analysis above, I still think that I should be happy if house prices go up, and sad if house prices go down. I should feel sad if prices go up only because I cannot buy anymore, and not happy if prices crash so that I can buy some more.

Just like in your example, Warren Buffett should feel happy if his share price goes up, and sad if it goes down (even though he has no intention of selling Berkshire Hathaway).

His Berkshire Hathaway shares have gone up from US$7.60 per share in 1965 to US$121,050 per share making him the second richest man in America. His holding of approximately 400,000 shares places his wealth at approximately US$50 billion. If the shares crash back to US$7.60 then his 400,000 shares will be worth just US$3 million :doh: and many people here can also afford to own as many Berkshire Hathaway shares as Buffett! Then nobody will respect him anymore, or pay millions to have lunch with him, or interview him.

My belief in PROPERTISM has allowed me to accumulate a substantial portfolio. If property prices crash, then any Ah Beng and Ah Seng can buy the same portfolio as me, and even if I can accumulate more properties, it will become quite meaningless. :scared-5:

For example, it's always more meaningful to own one landed house in a country where most people cannot afford one, than to own three landed houses in a country in which everyone can afford at least one.

Do you think that this CONDOSingapore.com forum can generate the same level of enthusiasm if not for the fact that private property owners form a miniority in Singapore thus giving this forum a touch of "Elitism"? :p

It's the same with cars. I remember visiting a local car forum where an American software programmer popped in to boast that his sports model is faster than ours, until someone told him that since his car there costs the same as a Toyota here, he should be posting in the Toyota Club forum instead, but he didn't seem to get the hint. :doh:

bargain hunter
12-04-10, 09:51
nope, i don't mean crash but rather a correction. fundamentals would not allow berkshire or sg ppty prices to crash back to the starting point as your example has illustrated. like you said, ppty prices go up in the long run. if prices fall, all things the same, you can buy more than the ah beng or ah seng, so your relative market share will at least remain the same, if not increase. even though you have a substantial portoflio already, if prices fall, your "paper losses" are meaningless since you are holding the portfolio forever.



After analysing your analysis above, I still think that I should be happy if house prices go up, and sad if house prices go down. I should feel sad if prices go up only because I cannot buy anymore, and not happy if prices crash so that I can buy some more.

Just like in your example, Warren Buffett should feel happy if his share price goes up, and sad if it goes down (even though he has no intention of selling Berkshire Hathaway).

His Berkshire Hathaway shares have gone up from US$7.60 per share in 1965 to US$121,050 per share making him the second richest man in America. His holding of approximately 400,000 shares places his wealth at approximately US$50 billion. If the shares crash back to US$7.60 then his 400,000 shares will be worth just US$3 million :doh: and many people here can also afford to own as many Berkshire Hathaway shares as Buffett! Then nobody will respect him anymore, or pay millions to have lunch with him, or interview him.

My belief in PROPERTISM has allowed me to accumulate a substantial portfolio. If property prices crash, then any Ah Beng and Ah Seng can buy the same portfolio as me, and even if I can accumulate more properties, it will become quite meaningless. :scared-5:

For example, it's always more meaningful to own one landed house in a country where most people cannot afford one, than to own three landed houses in a country in which everyone can afford at least one.

Do you think that this CONDOSingapore.com forum can generate the same level of enthusiasm if not for the fact that private property owners form a miniority in Singapore thus giving this forum a touch of "Elitism"? :p

It's the same with cars. I remember visiting a local car forum where an American software programmer popped in to boast that his sports model is faster than ours, until someone told him that since his car there costs the same as a Toyota here, he should be posting in the Toyota Club forum instead, but he didn't seem to get the hint. :doh:

chho
12-04-10, 12:19
As a rule of thumb, just wondering which area of the following would be a generally more preferred location:

1. Coronation/Duchess
2. Watten/Hillcrest/Greenwood
3. Mount Sinai/Holland
4. Sixth Avenue/Namly
5. Binjai
6. Kheam Hock/University Road

I think everything being equal, the landed properties in the Kheam Hock/University area have the best location. There will be an circle line MRT station at botanical gardens and you don't have to go pass Farrer Road, onto the congested Bukit Timah road, thus putting the Watten and Binjai areas at the bottom of my list. Coronation and Sixth Ave/namely are better despite the heavy traffic as you are at least not forced to do the U-turn to get onto Dunearn Road. Mt Sinai is ok as the jam on holland road is never as bad but the spaces between houses are tighter than Kheam Hock.

For ultimate dream location outside the GCB areas, One Tree Hill is the way to go.:cheers6:

chho
12-04-10, 12:34
After analysing your analysis above, I still think that I should be happy if house prices go up, and sad if house prices go down. I should feel sad if prices go up only because I cannot buy anymore, and not happy if prices crash so that I can buy some more.

Just like in your example, Warren Buffett should feel happy if his share price goes up, and sad if it goes down (even though he has no intention of selling Berkshire Hathaway).

His Berkshire Hathaway shares have gone up from US$7.60 per share in 1965 to US$121,050 per share making him the second richest man in America. His holding of approximately 400,000 shares places his wealth at approximately US$50 billion. If the shares crash back to US$7.60 then his 400,000 shares will be worth just US$3 million :doh: and many people here can also afford to own as many Berkshire Hathaway shares as Buffett! Then nobody will respect him anymore, or pay millions to have lunch with him, or interview him.

My belief in PROPERTISM has allowed me to accumulate a substantial portfolio. If property prices crash, then any Ah Beng and Ah Seng can buy the same portfolio as me, and even if I can accumulate more properties, it will become quite meaningless. :scared-5:

For example, it's always more meaningful to own one landed house in a country where most people cannot afford one, than to own three landed houses in a country in which everyone can afford at least one.

Do you think that this CONDOSingapore.com forum can generate the same level of enthusiasm if not for the fact that private property owners form a miniority in Singapore thus giving this forum a touch of "Elitism"? :p

It's the same with cars. I remember visiting a local car forum where an American software programmer popped in to boast that his sports model is faster than ours, until someone told him that since his car there costs the same as a Toyota here, he should be posting in the Toyota Club forum instead, but he didn't seem to get the hint. :doh:

I think you should be happy when prices go up and happy when prices come down. When prices go up, buy yourself a Ferrari as a reward. When prices come down, buy more properties! This is of course only possible if you are not leveraged to the tilt.

Maybe that's why Warren Buffet is always HAPPY. He says he tap dances to work everyday.:)

gunbound
12-04-10, 19:36
I think everything being equal, the landed properties in the Kheam Hock/University area have the best location. There will be an circle line MRT station at botanical gardens and you don't have to go pass Farrer Road, onto the congested Bukit Timah road, thus putting the Watten and Binjai areas at the bottom of my list. Coronation and Sixth Ave/namely are better despite the heavy traffic as you are at least not forced to do the U-turn to get onto Dunearn Road. Mt Sinai is ok as the jam on holland road is never as bad but the spaces between houses are tighter than Kheam Hock.

For ultimate dream location outside the GCB areas, One Tree Hill is the way to go.:cheers6:

I am new to this forum and would like to seek some advice. I am currently looking at 2 clustered semi-D development
Barker Villa (barker road) - 3750sq ft @ $800 psf
Verdana Villa (serangoon) - 4570sq ft @ $630 psf

Both units work out to be about the same price at around $3 mil. Personally, I think Barker Villa is a better buy especially it is in prime district, near ACS/SCGS etc, but the actual place may be too cramp for my family. Verdana Villa is of the right size, though near the new NEX mega mall and Serangoon MRT, it is not really within walking distance.

Thus, which is a better buy?? Thanks in advance

moneyspinner
12-04-10, 21:12
Have been going through the property websites and notice that the number of landed properties available for sale has shrunk. Most of the postings now are for cluster housing rather than real landed. There is very very few new postings of landed for sale and those posted are asking for sky high prices! OMG what is happening? There is apparently a sudden rush into landed properties now!!!!!!!!!! and sellers have withdrawn in anticipation of higher prices. Also understand PRs are looking into buying cluster housing now!:doh:

Localite
12-04-10, 21:57
what is the psf for bukit timah land? i see people asking 1500 psf!!!!

chho
12-04-10, 22:19
I am new to this forum and would like to seek some advice. I am currently looking at 2 clustered semi-D development
Barker Villa (barker road) - 3750sq ft @ $800 psf
Verdana Villa (serangoon) - 4570sq ft @ $630 psf

Both units work out to be about the same price at around $3 mil. Personally, I think Barker Villa is a better buy especially it is in prime district, near ACS/SCGS etc, but the actual place may be too cramp for my family. Verdana Villa is of the right size, though near the new NEX mega mall and Serangoon MRT, it is not really within walking distance.

Thus, which is a better buy?? Thanks in advance

The psf price for cluster housing quoted is based on built-in area, which is similar to how you would calculate psf for condominiums. The URA caveat lodged for a landed property is a psf price based on the size of land.

Considering the fact that the built-in area for a brand new semi-d is almost always larger than its land area, the psf price based on its built-in area will be substantially lower. Thus $630 psf quoted for Verdana Villa may not be as cheap as it seems.

If my budget is 3m, I will definitely buy a brand new, freehold semi-d in Serangoon Gardens. I own my land. I decide what kind of amenities I will have on my land. I decide how I will eventually rebuild the house on my land. No common areas. No rules and regulations. No monthly maintenance fee.

proud owner
12-04-10, 23:28
I am new to this forum and would like to seek some advice. I am currently looking at 2 clustered semi-D development
Barker Villa (barker road) - 3750sq ft @ $800 psf
Verdana Villa (serangoon) - 4570sq ft @ $630 psf

Both units work out to be about the same price at around $3 mil. Personally, I think Barker Villa is a better buy especially it is in prime district, near ACS/SCGS etc, but the actual place may be too cramp for my family. Verdana Villa is of the right size, though near the new NEX mega mall and Serangoon MRT, it is not really within walking distance.

Thus, which is a better buy?? Thanks in advance


hey pal

if you can consider Barker rd and Serangoon ..it shows that location is not important to you

why pay 3 mio for serangoon ? just becos you need the space ??

for 3 mio you can get really big space better than serangoon lah

jlrx
13-04-10, 00:07
If my budget is 3m, I will definitely buy a brand new, freehold semi-d in Serangoon Gardens. I own my land. I decide what kind of amenities I will have on my land. I decide how I will eventually rebuild the house on my land. No common areas. No rules and regulations. No monthly maintenance fee.

These are wise words indeed! :cheers1:


Have been going through the property websites and notice that the number of landed properties available for sale has shrunk. Most of the postings now are for cluster housing rather than real landed. There is very very few new postings of landed for sale and those posted are asking for sky high prices! OMG what is happening? There is apparently a sudden rush into landed properties now!!!!!!!!!! and sellers have withdrawn in anticipation of higher prices. Also understand PRs are looking into buying cluster housing now!:doh:

Your post just inspired me to write a "poem":


As homes go on a high, low seek the wise. :cheers1:


Business Times - 10 Apr 2010


Homes on high

The shimmering skyline of Singapore's residential skyscrapers will be seeing some notable additions

By FELDA CHAY THERE is only one way to go for residential properties in Singapore: up, up and up.

When it comes to building height, the five tallest private residential buildings - perhaps a better description would be 'residential skyscrapers' - are all taller than 100 metres. All were also completed within the last four years - a clear sign that property developers here are on a high. And while residential buildings are a common sight in land-scarce Singapore, this wave is interesting because it takes residential building heights in

Singapore to a whole new level, placing them alongside commercial skyscrapers.

The mood appears to be an infectious one, with public housing developer HDB following suit with The Pinnacle@Duxton on Cantonment Road. With seven 50-storey blocks that include facilities like skybridges, the development offers a higher standard of living than previously seen in public housing.

At a grand height of 168m, The Pinnacle@Duxton (completed last December) holds the record for being the tallest public housing building in Singapore. It also comes in third place when the comparison takes into account private residential buildings.

http://www.businesstimes.com.sg/mnt/media/image/launched/2010-04-10/BT_IMAGES_FCFALL10.jpg

gunbound
13-04-10, 07:32
The psf price for cluster housing quoted is based on built-in area, which is similar to how you would calculate psf for condominiums. The URA caveat lodged for a landed property is a psf price based on the size of land.

Considering the fact that the built-in area for a brand new semi-d is almost always larger than its land area, the psf price based on its built-in area will be substantially lower. Thus $630 psf quoted for Verdana Villa may not be as cheap as it seems.

If my budget is 3m, I will definitely buy a brand new, freehold semi-d in Serangoon Gardens. I own my land. I decide what kind of amenities I will have on my land. I decide how I will eventually rebuild the house on my land. No common areas. No rules and regulations. No monthly maintenance fee.

Thanks for the reply. At the current rate, $3m cannot get a FH semi-d in serangoon garden leh..even if it is an old unit. This was my original though, get an old semi-d but with a large plot and then re-build the house. But with my budget and prices going to sky high, unable to do this unless it is in a less popular area.

By the way, Verdana Villa is selling well... 26 out of the 54 units have been sold. Probably some PRs are also buying...

proud owner
13-04-10, 08:04
Thanks for the reply. At the current rate, $3m cannot get a FH semi-d in serangoon garden leh..even if it is an old unit. This was my original though, get an old semi-d but with a large plot and then re-build the house. But with my budget and prices going to sky high, unable to do this unless it is in a less popular area.

By the way, Verdana Villa is selling well... 26 out of the 54 units have been sold. Probably some PRs are also buying...


2.6 mio you can get a corner terrace ..land 3600 sqft at least ...built up 4500 sqft 6 bedroom

jsh
13-04-10, 08:08
Thanks for the reply. At the current rate, $3m cannot get a FH semi-d in serangoon garden leh..even if it is an old unit. This was my original though, get an old semi-d but with a large plot and then re-build the house. But with my budget and prices going to sky high, unable to do this unless it is in a less popular area.

By the way, Verdana Villa is selling well... 26 out of the 54 units have been sold. Probably some PRs are also buying...

I thought PR's are not allowed to buy cluster landed housing unless they obtain permission from the govt. authority. So PR's could not have possibly bought many units. I am not sure why its selling well because the pricing is quite steep for Verdana Villas about 2.8-2.9m for a semi-d. Land share per unit is only 1500-1600 sf. At these prices you are better off buying new Luxus Hill terraces(only 2kms away from Verdana) which is around 1.85-1.9m for an intermediate with land of 1615sf. Also its single titled and not strata titled like cluster housing.

proud owner
13-04-10, 08:23
I thought PR's are not allowed to buy cluster landed housing unless they obtain permission from the govt. authority. So PR's could not have possibly bought many units. I am not sure why its selling well because the pricing is quite steep for Verdana Villas about 2.8-2.9m for a semi-d. Land share per unit is only 1500-1600 sf. At these prices you are better off buying new Luxus Hill terraces(only 2kms away from Verdana) which is around 1.85-1.9m for an intermediate with land of 1615sf. Also its single titled and not strata titled like cluster housing.

land 1500-1600 sqft ..to achieve 4500 sqft built up thats at least 5 storey ... does it come with lift ?

if yes ... long term maintenance is an issue ..

if not ... good luck climbing

and becos its narrow and high .. the rooms on the 3, 4,5th floor can be really really hot ..
think about the cost to run fans and aircons

proud owner
13-04-10, 08:49
I thought PR's are not allowed to buy cluster landed housing unless they obtain permission from the govt. authority. So PR's could not have possibly bought many units. I am not sure why its selling well because the pricing is quite steep for Verdana Villas about 2.8-2.9m for a semi-d. Land share per unit is only 1500-1600 sf. At these prices you are better off buying new Luxus Hill terraces(only 2kms away from Verdana) which is around 1.85-1.9m for an intermediate with land of 1615sf. Also its single titled and not strata titled like cluster housing.


even this inter terrace has a bigger land size .. 1.4 mio .. throw in 1 mio .. build up to 4 storey ... 4000 sqft ... 6-7 bedrooms .. still 2.4 mio ...

i really dont understand why people like clusters ..

i have visited at least 3 friends who own and rent clusters.. their biggest complain .. CLIMBING + HOT ...

stl67
13-04-10, 09:24
even this inter terrace has a bigger land size .. 1.4 mio .. throw in 1 mio .. build up to 4 storey ... 4000 sqft ... 6-7 bedrooms .. still 2.4 mio ...

i really dont understand why people like clusters ..

i have visited at least 3 friends who own and rent clusters.. their biggest complain .. CLIMBING + HOT ...

2 more complains: Staircase is so narrow and maintenance is high

chho
13-04-10, 10:15
Thanks for the reply. At the current rate, $3m cannot get a FH semi-d in serangoon garden leh..even if it is an old unit. This was my original though, get an old semi-d but with a large plot and then re-build the house. But with my budget and prices going to sky high, unable to do this unless it is in a less popular area.

By the way, Verdana Villa is selling well... 26 out of the 54 units have been sold. Probably some PRs are also buying...

You can definitely find a new fh semi d with a 3m budget in Serangoon gardens. Check the Saturday classifieds. You may even be able to find a smallish terrace in district 11 if you look hard enough. The important thing is to buy land, don't follow the crowd at Verdana Villa...

proud owner
13-04-10, 10:29
You can definitely find a new fh semi d with a 3m budget in Serangoon gardens. Check the Saturday classifieds. You may even be able to find a smallish terrace in district 11 if you look hard enough. The important thing is to buy land, don't follow the crowd at Verdana Villa...

there are so many single storey semi D with decent land size ..say 3500 sqft ..some even bigger..

just pay 1.5 for the land .. and spend 1 mio to build your dream house ... still 2.5 mio ...

dont believe he said 3 mio cannot find hahha

and can even compare Barker rd and serangoon ??

wa piang .. he really knows ntg

focus
13-04-10, 13:56
Just wondering...
when there is a mad rush to landed by home buyers and investors alike. .
1) Does it mean mass-market and mid-teir condos are overpriced now? '
2) Is this the last stage of the ppty bull market for the avg homebuyers/investors(exclude high-end/luxury as those are considered price insensitive?).

jsh
13-04-10, 17:38
Just wondering...
when there is a mad rush to landed by home buyers and investors alike. .
1) Does it mean mass-market and mid-teir condos are overpriced now? '
2) Is this the last stage of the ppty bull market for the avg homebuyers/investors(exclude high-end/luxury as those are considered price insensitive?).

I think there's also the possibility that now with many new PR's from China & also India there's this scenario that many may take up citizenship & thus be eligible to buy landed. At the moment its only a trickle. So the thinking is that its better not to wait for a deluge of demand should these people become citizens.

In the past we can all wait as only citizens(mostly longtime Singaporeans) can buy so the demand is limited. At least thats the thinking. But now we must be wary & secure one first before new citizens enter the market for landed property & price Singapore born citizens out of the market.

A case in point. I was looking for landed property in Serangoon Gardens recently. Guess what? My competitor was a new citizen from China who's shopping for his 2nd landed property. So you are now up against these people not just fellow longtime Singaporeans.

focus
13-04-10, 22:10
I think there's also the possibility that now with many new PR's from China & also India there's this scenario that many may take up citizenship & thus be eligible to buy landed. At the moment its only a trickle. So the thinking is that its better not to wait for a deluge of demand should these people become citizens.

In the past we can all wait as only citizens(mostly longtime Singaporeans) can buy so the demand is limited. At least thats the thinking. But now we must be wary & secure one first before new citizens enter the market for landed property & price Singapore born citizens out of the market.

A case in point. I was looking for landed property in Serangoon Gardens recently. Guess what? My competitor was a new citizen from China who's shopping for his 2nd landed property. So you are now up against these people not just fellow longtime Singaporeans.

Hmm... that was something i missed out on .. the PRs and foreigners who convert to citizens. Thanks. I guess we would be seeing more of them competing for the last bastion of singapore.

proud owner
13-04-10, 23:46
Hmm... that was something i missed out on .. the PRs and foreigners who convert to citizens. Thanks. I guess we would be seeing more of them competing for the last bastion of singapore.


didnt i say sometime ago ... withered leaves return to the ground



one day Singapore will be 'part' of China

focus
14-04-10, 00:58
didnt i say sometime ago ... withered leaves return to the ground



one day Singapore will be 'part' of China

Woohoo! :) Do I get a China Passport with it too? :)

proud owner
14-04-10, 01:07
Woohoo! :) Do I get a China Passport with it too? :)

aiyo

you sure you want ?


i really dont mind these people ... but i hope they do not bring with them the habits ...

always believe :

YOu can take them out of Kampung,
But you cannot take the Kampung out of them

chho
14-04-10, 03:16
Just wondering...
when there is a mad rush to landed by home buyers and investors alike. .
1) Does it mean mass-market and mid-teir condos are overpriced now? '
2) Is this the last stage of the ppty bull market for the avg homebuyers/investors(exclude high-end/luxury as those are considered price insensitive?).

Singaporeans are getting sick of paying millions for a pigeon hole in the sky. Guess it is either condos are over priced or landed is still cheap.

I have a feeling the final stage of the property "bubble" will be one characterised by foreigners buying up high end condos. We have yet to reach 2007 high. The mainland Chinese are setting record prices in Hong Kong, London and New York. It's a matter of time before they come to Singapore. Maybe Las Vegas Sands will remind them...:cheers6:

jlrx
14-04-10, 03:44
You can definitely find a new fh semi d with a 3m budget in Serangoon gardens. Check the Saturday classifieds. You may even be able to find a smallish terrace in district 11 if you look hard enough. The important thing is to buy land, don't follow the crowd at Verdana Villa...
there are so many single storey semi D with decent land size ..say 3500 sqft ..some even bigger..

just pay 1.5 for the land .. and spend 1 mio to build your dream house ... still 2.5 mio ...

dont believe he said 3 mio cannot find hahha

and can even compare Barker rd and serangoon ??

wa piang .. he really knows ntg

I don't think you can get Serangoon Gardens "3500 sq ft or bigger" for $1.5 million (below $429 psf) anymore. :scared-4:

Below are the three latest transactions.

I suggest "gunbound" to buy one like the second one (48, Farleigh Avenue) which just suits his budget of $3 million, which is not brandnew but doesn't need to rebuild.

http://i305.photobucket.com/albums/nn211/jlrx_bucket/SerangoonGardensCaveats.jpg

42 Carisbrooke Grove

http://i305.photobucket.com/albums/nn211/jlrx_bucket/CarisbrookeGrove42.jpg

48 Farleigh Avenue

http://i305.photobucket.com/albums/nn211/jlrx_bucket/FarleighAvenue48.jpg

83 Hythe Road

http://i305.photobucket.com/albums/nn211/jlrx_bucket/HytheRoad83.jpg

chho
14-04-10, 10:20
I don't think you can get Serangoon Gardens "3500 sq ft or bigger" for $1.5 million (below $429 psf) anymore. :scared-4:

Below are the three latest transactions.

I suggest "gunbound" to buy one like the second one (48, Farleigh Avenue) which just suits his budget of $3 million, which is not brandnew but doesn't need to rebuild.

http://i305.photobucket.com/albums/nn211/jlrx_bucket/SerangoonGardensCaveats.jpg

42 Carisbrooke Grove

http://i305.photobucket.com/albums/nn211/jlrx_bucket/CarisbrookeGrove42.jpg

48 Farleigh Avenue

http://i305.photobucket.com/albums/nn211/jlrx_bucket/FarleighAvenue48.jpg

83 Hythe Road

http://i305.photobucket.com/albums/nn211/jlrx_bucket/HytheRoad83.jpg

48 farleigh ave looks like a good buy. Big plot of land with a decent looking 2 storey house. Pity it is not slightly bigger to be converted into a small bungalow.:rolleyes: All you probably need is to redo the washrooms and a new coat of paint before moving in. Then you just sit on that piece of land for the next 3 generations.:)

focus
14-04-10, 14:39
I don't think you can get Serangoon Gardens "3500 sq ft or bigger" for $1.5 million (below $429 psf) anymore. :scared-4:

Below are the three latest transactions.

I suggest "gunbound" to buy one like the second one (48, Farleigh Avenue) which just suits his budget of $3 million, which is not brandnew but doesn't need to rebuild.

http://i305.photobucket.com/albums/nn211/jlrx_bucket/SerangoonGardensCaveats.jpg

42 Carisbrooke Grove

http://i305.photobucket.com/albums/nn211/jlrx_bucket/CarisbrookeGrove42.jpg


Haha! :) This one I've seen before and I liked it.. but parents don't like it.. The asking was $2mil if I remember correctly... was damn cheap! .. And it's situated on highland.. and if built up to 2 storey, you can see the whole estate view.

ay123
14-04-10, 15:34
Haha! :) This one I've seen before and I liked it.. but parents don't like it.. The asking was $2mil if I remember correctly... was damn cheap! .. And it's situated on highland.. and if built up to 2 storey, you can see the whole estate view.

u seem to be "looking" for property for very very long time. are u serious of getting one or just window shopping with your "6 million $". when property down u don have ball to buy. now property sky rocketing u say it doesnt matter since is for own stay. aiyo cannot understand a person with net worth of 6 million can be so indecisive.

Reporter
14-04-10, 15:46
u seem to be "looking" for property for very very long time. are u serious of getting one or just window shopping with your "6 million $". when property down u don have ball to buy. now property sky rocketing u say it doesnt matter since is for own stay. aiyo cannot understand a person with net worth of 6 million can be so indecisive.He is good in creating wealth, e.g. making $6M, but not good in spending wealth, e.g. buy a house.

Just teasing my fellow alumnus. :D

teddybear
14-04-10, 15:58
No lah, he need further confirmation that the $6m is worth spending by seeing further increase in price. :D (just joking!).
Joke aside, many people always willing to buy only when prices have gone up because they can still ride on the uptrend while not willing to buy during downtrend as we won't know where is the bottom. These are usually very conservative fellow. :cheers1:


u seem to be "looking" for property for very very long time. are u serious of getting one or just window shopping with your "6 million $". when property down u don have ball to buy. now property sky rocketing u say it doesnt matter since is for own stay. aiyo cannot understand a person with net worth of 6 million can be so indecisive.

focus
14-04-10, 16:29
haha.. fellow bros getting fustrated at a non-performer..
If peer appraisal , I sure get the louiest grade...

Pardon the noob ... :) Your tolerance is much appreciated.

Maybe my motto should be "No guts, No glory. Go wrong, Up Lorry".

gunbound
14-04-10, 17:24
I don't think you can get Serangoon Gardens "3500 sq ft or bigger" for $1.5 million (below $429 psf) anymore. :scared-4:

Below are the three latest transactions.

I suggest "gunbound" to buy one like the second one (48, Farleigh Avenue) which just suits his budget of $3 million, which is not brandnew but doesn't need to rebuild.

http://i305.photobucket.com/albums/nn211/jlrx_bucket/SerangoonGardensCaveats.jpg

42 Carisbrooke Grove

http://i305.photobucket.com/albums/nn211/jlrx_bucket/CarisbrookeGrove42.jpg

48 Farleigh Avenue

http://i305.photobucket.com/albums/nn211/jlrx_bucket/FarleighAvenue48.jpg

83 Hythe Road

http://i305.photobucket.com/albums/nn211/jlrx_bucket/HytheRoad83.jpg
Thanks jlrx. Yes, you cant really get a decent second hand unit and move-in condition semi-D at Serangoon garden with $3mil at the current rate. The unit at 83 hythe rd seems a good choice at $2.18mil. Probably can spend another $1m to rebuild a 3-storey unit for my family and parents, though it exceeds my budget by $200K. Will probably check out this unit. Thanks again!!:)

Blue
14-04-10, 17:30
The land size and price in Serangoon Gardens is considered reasonable. But having stayed in D19 for many years, it just doesnt appeal to me anymore.

Proximity to town is still a key factor whether buying landed or not. :cool:

jsh
14-04-10, 17:56
Thanks jlrx. Yes, you cant really get a decent second hand unit and move-in condition semi-D at Serangoon garden with $3mil at the current rate. The unit at 83 hythe rd seems a good choice at $2.18mil. Probably can spend another $1m to rebuild a 3-storey unit for my family and parents, though it exceeds my budget by $200K. Will probably check out this unit. Thanks again!!:)

Dont know what u mean about 'checking out this unit' . This property has just been sold on 26 march 2010.

moneyspinner
14-04-10, 18:00
The land size and price in Serangoon Gardens is considered reasonable. But having stayed in D19 for many years, it just doesnt appeal to me anymore.

Proximity to town is still a key factor whether buying landed or not. :cool:

Just curious, where would be your ideal location? Intend to switch over to a condo or will still stick to landed in your ideal location? Looks like properties will appreciate further in the 2nd quarter in line with the strong economic numbers released this morning.

august
14-04-10, 19:55
u seem to be "looking" for property for very very long time. are u serious of getting one or just window shopping with your "6 million $". when property down u don have ball to buy. now property sky rocketing u say it doesnt matter since is for own stay. aiyo cannot understand a person with net worth of 6 million can be so indecisive.

now prices rising, best to hibernate & not chase ...

chho
14-04-10, 21:07
Just curious, where would be your ideal location? Intend to switch over to a condo or will still stick to landed in your ideal location? Looks like properties will appreciate further in the 2nd quarter in line with the strong economic numbers released this morning.

Ever considered river valley if you are looking for condos? 5 minutes to Orchard, 10 minutes to Raffles Place and traffic is usually good. Restaurants bars and clubs everywhere. A few of the larger projects are trading at D15 prices.

Blue
15-04-10, 10:26
Just curious, where would be your ideal location? Intend to switch over to a condo or will still stick to landed in your ideal location? Looks like properties will appreciate further in the 2nd quarter in line with the strong economic numbers released this morning.

Personally, I bgt landed in Katong (D15) to stay cos I just love to be near the sun, sand & sea. And it's very close to all the actions / amenities - Katong famous eateries, Parkway Parade, East Coast Park, Kallang Sports Hub, Marina Bay, CBD (10 mins drive).

If you have the moolah, Crescent Rd / Goodman Rd will be best ideal location for landed. The neighbourhood isrevamped with mostly new rebuilt houses. Minimum $3M.

Never really like Bukit Timah since amenities are not within walking distance.

For condos, agree Mohammad Sultan area is very prime and interesting, provided you like to stay with ang mohs...those are better for rental.

DC33_2008
15-04-10, 12:50
Is it really 10 mins to CBD?



Personally, I bgt landed in Katong (D15) to stay cos I just love to be near the sun, sand & sea. And it's very close to all the actions / amenities - Katong famous eateries, Parkway Parade, East Coast Park, Kallang Sports Hub, Marina Bay, CBD (10 mins drive).

If you have the moolah, Crescent Rd / Goodman Rd will be best ideal location for landed. The neighbourhood isrevamped with mostly new rebuilt houses. Minimum $3M.

Never really like Bukit Timah since amenities are not within walking distance.

For condos, agree Mohammad Sultan area is very prime and interesting, provided you like to stay with ang mohs...those are better for rental.

teddybear
15-04-10, 16:46
Ha ha ha! You need to scratch your head hard to figure out! He needs to take helicopter that is why 10 mins mah. :cheers1:
Otherwise he tells you that it is a Sunday morning only takes 10 mins (but didn't say it is 6am in the morning and he didn't tell you his definition of "reach CBD" is just to reach Suntec City ERP entrance after exiting ECP).


Is it really 10 mins to CBD?
Originally Posted by Blue
Personally, I bgt landed in Katong (D15) to stay cos I just love to be near the sun, sand & sea. And it's very close to all the actions / amenities - Katong famous eateries, Parkway Parade, East Coast Park, Kallang Sports Hub, Marina Bay, CBD (10 mins drive).

If you have the moolah, Crescent Rd / Goodman Rd will be best ideal location for landed. The neighbourhood isrevamped with mostly new rebuilt houses. Minimum $3M.

Never really like Bukit Timah since amenities are not within walking distance.

For condos, agree Mohammad Sultan area is very prime and interesting, provided you like to stay with ang mohs...those are better for rental.

teddybear
15-04-10, 16:58
Personally, I bgt landed in Katong (D15) to stay cos I just love to be near the sun, sand & sea.
Katong <-> near sun, sand & sea? Quite some distance lei.
Like that Orchard also near sun, sand & sea. :p

And it's very close to all the actions / amenities - Katong famous eateries, Parkway Parade, East Coast Park, Kallang Sports Hub, Marina Bay, CBD (10 mins drive).
Katong close to actions / amenities?
Which place has more actions & amenities & shopping other than Orchard?
PP & East Coast Park too crowded and yet not much varieties. Kallang Sports Hub for what?
Marina Bay & CBD (10 mins drive)? Really? Marina Bay so far already. CBD like Orchard even further!

If you have the moolah, Crescent Rd / Goodman Rd will be best ideal location for landed. The neighbourhood isrevamped with mostly new rebuilt houses. Minimum $3M.
Never heard of the place. What so good? $3m? Mickey mouse units in Orchard also at least $3m but in the middle of all actions, amenities, & fun! Simon Cheong says something like this: "there is not many place in the world like Orchard..., a single stretch of entertainment, dinning, and shopping all in 1 place...".

Never really like Bukit Timah since amenities are not within walking distance.
Bukit Timah so big, which part are you referring to? Some parts definitely more amenities & more accessible than Katong!

For condos, agree Mohammad Sultan area is very prime and interesting, provided you like to stay with ang mohs...those are better for rental.
Why cannot stay with ang mohs? Cannot stay with indians (why you like to call "Ah Nehs"?). You so racist is it?
Better for rental is better investment right? Own stay also can, more fun with ang mohs too!


Personally, I bgt landed in Katong (D15) to stay cos I just love to be near the sun, sand & sea. And it's very close to all the actions / amenities - Katong famous eateries, Parkway Parade, East Coast Park, Kallang Sports Hub, Marina Bay, CBD (10 mins drive).

If you have the moolah, Crescent Rd / Goodman Rd will be best ideal location for landed. The neighbourhood isrevamped with mostly new rebuilt houses. Minimum $3M.

Never really like Bukit Timah since amenities are not within walking distance.

For condos, agree Mohammad Sultan area is very prime and interesting, provided you like to stay with ang mohs...those are better for rental.

Blue
15-04-10, 18:01
Is it really 10 mins to CBD?

10 mins is casual drive with usual peak hr traffic. I hvn't even step on my accelerator pedal to turn on the turbocharger in my car. :D

Take taxi, $10 still got change wor!

Blue
15-04-10, 18:09
Personally, I bgt landed in Katong (D15) to stay cos I just love to be near the sun, sand & sea.
Katong <-> near sun, sand & sea? Quite some distance lei.
Like that Orchard also near sun, sand & sea. :p

And it's very close to all the actions / amenities - Katong famous eateries, Parkway Parade, East Coast Park, Kallang Sports Hub, Marina Bay, CBD (10 mins drive).
Katong close to actions / amenities?
Which place has more actions & amenities & shopping other than Orchard?
PP & East Coast Park too crowded and yet not much varieties. Kallang Sports Hub for what?
Marina Bay & CBD (10 mins drive)? Really? Marina Bay so far already. CBD like Orchard even further!

If you have the moolah, Crescent Rd / Goodman Rd will be best ideal location for landed. The neighbourhood isrevamped with mostly new rebuilt houses. Minimum $3M.
Never heard of the place. What so good? $3m? Mickey mouse units in Orchard also at least $3m but in the middle of all actions, amenities, & fun! Simon Cheong says something like this: "there is not many place in the world like Orchard..., a single stretch of entertainment, dinning, and shopping all in 1 place...".

Never really like Bukit Timah since amenities are not within walking distance.
Bukit Timah so big, which part are you referring to? Some parts definitely more amenities & more accessible than Katong!

For condos, agree Mohammad Sultan area is very prime and interesting, provided you like to stay with ang mohs...those are better for rental.
Why cannot stay with ang mohs? Cannot stay with indians (why you like to call "Ah Nehs"?). You so racist is it?
Better for rental is better investment right? Own stay also can, more fun with ang mohs too!

Sorry, I admit I am not so rich to buy landed in Orchard Rd. Maybe you do, but as I said b4, u need to strike multiple times TOTO first prize to do tat. Dun use your Little India mickey mouse unit to compare agst landed hor..it's a laughing dtock.

So Katong gd enuf for me. Crescent Rd is already considered abit stretched for me.

Bukit Timah - good for schools only

U like to stay among the ang mos? maybe they can invite u and ur wife to their hse for swapping games :p

Blue
15-04-10, 18:15
Ha ha ha! You need to scratch your head hard to figure out! He needs to take helicopter that is why 10 mins mah. :cheers1:
Otherwise he tells you that it is a Sunday morning only takes 10 mins (but didn't say it is 6am in the morning and he didn't tell you his definition of "reach CBD" is just to reach Suntec City ERP entrance after exiting ECP).

You r the joker here. I drive daily to and fro Katong and CBD so I dare to state here - It takes only 10 mins door to door. Worst traffic jam? 20 mins :cheers6:

But for you? Stay in a Balestier condo with multi-storey carpark and 300 families sharing 3 lifts? It takes you 20 mins just to get out of your condo without even hitting the road. And to travel from Balestier to CBD is another 20 mins!:doh:

I think those staying landed in Ang Mo Kio / Braddell gets to CBD faster than you.

xebay11
15-04-10, 18:20
You r the joker here. I drive daily to and fro Katong and CBD so I dare to state here - It takes only 10 mins door to door. Worst traffic jam? 20 mins :cheers6:

Yep agree with you on the CBD drive time. Done it myself too.

DC33_2008
15-04-10, 22:42
10 mins is casual drive with usual peak hr traffic. I hvn't even step on my accelerator pedal to turn on the turbocharger in my car. :D

Take taxi, $10 still got change wor!

Puzzled?? Are you referring to standard time or turbo time? I have to try someday during peak hour. I usually go to work after peak hour.

proud owner
16-04-10, 00:18
[quote=Blue]Personally, I bgt landed in Katong (D15) to stay cos I just love to be near the sun, sand & sea. And it's very close to all the actions / amenities - Katong famous eateries, Parkway Parade, East Coast Park, Kallang Sports Hub, Marina Bay, CBD (10 mins drive).

If you have the moolah, Crescent Rd / Goodman Rd will be best ideal location for landed. The neighbourhood isrevamped with mostly new rebuilt houses. Minimum $3M.

quote]


not sure about Crescent rd .. but find Goodman area ..cramp .. the area may be big, the houses may be big .. but the roads leading to Goodman ... i find them really narrow ..

I find Jalan Seaview , Kerris Drive , Dunbar , Meyer.. to be better landed area ..in D15

to me...staying in landed needs to have its seclusiveness ..hence away from amenities ..i can accept ..... otherwise i choose to stay condos..

chho
16-04-10, 11:20
The goodman road area, which also includes wilkinson rd, branksome rd, etc on the west of Crescent Road is approved for bungalows only, according to URA. It therefore maintains at atmosphere of exclusiveness in terms of set back from the road, set back from your neighbours, etc that semi-d or mixed neighbourhoods cannot match.



[quote=Blue]Personally, I bgt landed in Katong (D15) to stay cos I just love to be near the sun, sand & sea. And it's very close to all the actions / amenities - Katong famous eateries, Parkway Parade, East Coast Park, Kallang Sports Hub, Marina Bay, CBD (10 mins drive).

If you have the moolah, Crescent Rd / Goodman Rd will be best ideal location for landed. The neighbourhood isrevamped with mostly new rebuilt houses. Minimum $3M.

quote]


not sure about Crescent rd .. but find Goodman area ..cramp .. the area may be big, the houses may be big .. but the roads leading to Goodman ... i find them really narrow ..

I find Jalan Seaview , Kerris Drive , Dunbar , Meyer.. to be better landed area ..in D15

to me...staying in landed needs to have its seclusiveness ..hence away from amenities ..i can accept ..... otherwise i choose to stay condos..

Blue
16-04-10, 12:38
Puzzled?? Are you referring to standard time or turbo time? I have to try someday during peak hour. I usually go to work after peak hour.

Standard cruising speed...no chance to use my turbo on congested road :banghead:

Time yourself using from say, Katong to Old Airport Rd to Nicoll Highway to Fullerton.:rolleyes:

jlrx
16-04-10, 19:04
Standard cruising speed...no chance to use my turbo on congested road :banghead:

It's not how fast you go, but how you go fast. :p

http://i305.photobucket.com/albums/nn211/jlrx_bucket/AreYouARealDriver.jpg

Reporter
10-05-10, 22:54
http://sg.yimg.com/i/sg/providers/cnalogo4.gif
Sales of landed homes likely to surpass 2009 numbers this year
Wong Siew Ying
Channel NewsAsia
Monday, 10 May 2010, 2045 hrs

http://www.channelnewsasia.com/imagegallery/store/phpl1gyox.jpg

Demand for landed homes in Singapore is expected to remain firm this year. Analysts said the number of sales transactions is likely to surpass the 2,892 units sold last year.

Over 1,500 landed homes, excluding good class bungalows, changed hands in the first quarter of this year alone. They were worth about S$3.2 billion, compared with S$5.2 billion for the whole of 2009.

The debt crisis in Greece has been spooking stock markets of late, but its impact on the property sector is not immediately clear.

Some real estate agencies expect more interest in landed homes. HSR, for instance, said landed home sales have risen by about 10% in the first 4 months of 2010.

It said landed homes are seen as safer bets during market uncertainty, while they also fetch lucrative rentals.

Jeffrey Hong, executive director, Agency, HSR International Realtors, said: "Rental yields for 2009 and even now, a corner terrace for example over in East Coast area, the rate is running perhaps between S$6,000 to S$9,000 compared to a year and a half ago, 2008, the rental is about S$3,500 to S$4,000."

Colliers International said 498 units were transacted in March - just 17% lower than the peak in May 2007.

The average unit price in the first quarter is S$826 psf for terrace houses, S$812 psf for semi-detached houses and S$988 psf for detached houses.

Some home buyers prefer landed homes as their average prices are comparable to those of private condominiums. Observers said there is room for price growth with the positive sentiment.

Grace Ng, deputy managing director, Agency & Business Services, Colliers International, said: "If you look at the last bottom, that's 2Q 2009, landed property prices have recovered by about 35%. If you compare with the last peak in 2Q 08, landed property prices have surpassed the last peak by about 9%."

Colliers added that some buyers see landed properties as offering more value for money because they would own a piece land with their home. There is also a perception that landed homes are a good hedge against inflation.

In the near term, Colliers said demand is likely to remain firm backed by the low interest rate environment, high liquidity and improving job market.

HSR said District 19 has seen the highest volume of transactions in 2009, followed by District 15.

Over 600 deals were done in District 19, which includes areas like Serangoon Gardens, Yio Chu Kang, Kovan and some parts of Hougang. District 15 - comprising the East Coast, Katong and Joo Chiat - saw nearly 400 transactions in 2009.

This year, market players expect both districts to do well again, along side the Bukit Timah area.

Going forward, market players said given the limited supply of landed properties, prices are not likely to be subjected to volatile swings. All in, there are about 68,000 landed homes in Singapore, making up some 9% of the total stock of private residential properties here.

Landed homes led the growth in property prices in the first quarter, climbing 8.3%. And analysts said the trend should continue for the rest of the year, barring unforeseen events.