Strong private home sales in April

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15-05-09, 16:17
jitkiat

Strong private home sales in April

PROPERTY developers sold 1,207 units of new private homes in April, compared with 1,220 units in March. They launched 1,083 units in the same month, up from 832 units in March, according to the latest monthly data released by the Urban Redevelopment Authority.
The top-selling projects last month included Mi Casa in Choa Chu Kang and The Arte in Jalan Datoh.
Buyers picked up 115 units of Mi Casa at a median price of $639 per square foot while another 110 units of The Arte were sold at a median price of $903 psf.
15-05-09, 17:16
moneymatters

Quote:

Originally Posted by jitkiat

PROPERTY developers sold 1,207 units of new private homes in April, compared with 1,220 units in March. They launched 1,083 units in the same month, up from 832 units in March, according to the latest monthly data released by the Urban Redevelopment Authority.
The top-selling projects last month included Mi Casa in Choa Chu Kang and The Arte in Jalan Datoh.
Buyers picked up 115 units of Mi Casa at a median price of $639 per square foot while another 110 units of The Arte were sold at a median price of $903 psf.

Is this stats from official source ie URA or just some rough estimate? What a disconnect considering Singapore undergoing its worst recession and minus 9-10% GDP scenario.
15-05-09, 17:47
jitkiat

Quote:

Originally Posted by moneymatters

Is this stats from official source ie URA or just some rough estimate? What a disconnect considering Singapore undergoing its worst recession and minus 9-10% GDP scenario.

Official from URA. Continuous 3 months of private home sales > 1,200 for Feb, March and April 2009. I heard that even Fragrance Land managed to clear all their 20+ units of 99 LH terraced houses at Sembawang in May so the figures for May should be equally strong. If this trends continues, we can probably see 8,000-10,000 new home sales by end of this year. Upcoming projects with large number of units to watch out for include Meadows@Pierce by UOL, previous Hong Leong Garden condo in West Coast by CDL as well as WaterFront Keys by FEO at Bedok Reservoir.
15-05-09, 20:54
bargain hunter

Yup, stats from URA released today. Noteable Sales and median prices:

CCR:

Illuminaire: all 72 units sold out at 1703psf
Visioncrest: 9 of the remaining units sold at 1651psf
Verdure: 64 of the 75 units launched sold at 1416psf
BelleRive: 21 units sold at preview at 1366psf
Lincoln Residences: 39 units sold at 1156psf
Small developments like Mount Sophia Suites, Attitude at Kim Yam, Mulberry Tree, Zenith and RV suites: 84 units sold at 1180 to 1231psf

RCR:

Concourse Skyline: 23 units at 1164psf
The Arte: 110 units at 903psf
iResidences and Domus: 16 each at average of 893psf
Nova 88 and 48: total of 30 units at 830psf
The Silver Fir and Versilia on Haig: 18 and 15 units at 890 and 823psf
Woodsville 28 and Clover by the park: 34 and 16 units at 751 and 730psf
Oasis Garden: 22 units at 674psf

OCR:

Kovan Residences: 94 units at 685psf
Double Bay Residences: 89 units at 670psf
Mi Casa: 115 units at 639psf
Waterfront Waves: 29 units at 626psf
Caspian: 42 units at 619psf
Livia: 29 units at 615psf

Quote:

Originally Posted by moneymatters

Is this stats from official source ie URA or just some rough estimate? What a disconnect considering Singapore undergoing its worst recession and minus 9-10% GDP scenario.
15-05-09, 21:03
nimm12

good news for rest of the buyers who still waiting-and-watching : one bunch competitors less now!
15-05-09, 23:33
Condorich

Quote:

Originally Posted by nimm12

good news for rest of the buyers who still waiting-and-watching : one bunch competitors less now!

Huh? Less competitors? I would think that those buyers are smarter and move ahead first. Be prepared to pay higher with the lead in STI till it falls again.
16-05-09, 00:02
sabian

Wait for year end and we can revisit.
16-05-09, 01:50
orange

what do you mean by less competitors... you think some interested buyers may have been priced out???
16-05-09, 02:02
Regulators

stop asking stupid cock questions here and go back to school to hit the books. I think this forum is matured content for a kiddo like you.....:doh:

Quote:

Originally Posted by orange

what do you mean by less competitors... you think some interested buyers may have been priced out???
16-05-09, 11:20
zinky

er... mr agent, you forgot to paste the other half of the report, where analyst said they believe this is the last of the good months left.

pent up demands from over valued HDB, are all spent liao.

with tens of thousands unsold units coming up, where do you think the buyers are going to come from?

no tenants, no foreign investments, no where.

so the coming months are going to be the real bottoming out.

buyers don't be fooled.
16-05-09, 12:55
Condorich

agree.... the demand in Feb, Mar and Apr came mainly from those buyers with HDB address, its latent pent up demand for upgrading. Moving forward, not sure where demand is going to come from? From the bank?

You would notice that those units sold are mainly under contruction, progessive payment or even deferred payment scheme with interest absorbion, what that tells u? It means that the market is bad. Recovery expected to be later, >1-3 years from now

Take a wrong bet and you are stuck for life!
16-05-09, 13:18
zinky

remember the low low prices in 2006?

not sars, not stock market - just low demand that caused the low prices.

stock market was high then.

property is always at its lowest 6-18 months after stock bottom.

so if march is bottom, then property only bottom in sept - december.

easily 20-30% more.

people spend money on stock first, then spend on property, so only property start to make money then

the current high sales is due to demand from upgraders - who are looking for a place to live - ie. not investors looking for rental returns - the real source for long term growth - why no investors? cuz there are no expats coming to singapore to work = no rental. EVEN the Chinese are not coming.

the rental market is in a terrible state now.

so mr agent, mr funny, please stop misleading buyers. i think its very evil of you guys to bluff un-informed buyers into buying into hype.
16-05-09, 14:00
bargain hunter

I think the initial post was rather neutral. He was just presenting the headline as printed by the media. There was no post under this thread that was screaming buy calls or trying to mislead anyone.

I agree with you that the rental market is and will stay rather bad for sometime. However, according to my agent, there have been some stirring in the prime areas. These people are unlikely to be HDB upgraders, perhaps, not even locals. I guess its true that there are Indonesian buyers coming in to selectively buy prime properties but I'm not sure what are the reasons behind it. Perhaps its just a place for them to park their cash. Who knows, it might just be a short rebound which cannot be sustained.

Quote:

Originally Posted by zinky

remember the low low prices in 2006?

not sars, not stock market - just low demand that caused the low prices.

stock market was high then.

property is always at its lowest 6-18 months after stock bottom.

so if march is bottom, then property only bottom in sept - december.

easily 20-30% more.

people spend money on stock first, then spend on property, so only property start to make money then

the current high sales is due to demand from upgraders - who are looking for a place to live - ie. not investors looking for rental returns - the real source for long term growth - why no investors? cuz there are no expats coming to singapore to work = no rental. EVEN the Chinese are not coming.

the rental market is in a terrible state now.

so mr agent, mr funny, please stop misleading buyers. i think its very evil of you guys to bluff un-informed buyers into buying into hype.
16-05-09, 14:12
firec

Quote:

Originally Posted by zinky

remember the low low prices in 2006?

not sars, not stock market - just low demand that caused the low prices.

stock market was high then.

property is always at its lowest 6-18 months after stock bottom.

so if march is bottom, then property only bottom in sept - december.

easily 20-30% more.

people spend money on stock first, then spend on property, so only property start to make money then

the current high sales is due to demand from upgraders - who are looking for a place to live - ie. not investors looking for rental returns - the real source for long term growth - why no investors? cuz there are no expats coming to singapore to work = no rental. EVEN the Chinese are not coming.

the rental market is in a terrible state now.

so mr agent, mr funny, please stop misleading buyers. i think its very evil of you guys to bluff un-informed buyers into buying into hype.

I like your analysis.
16-05-09, 14:17
firec

Quote:

Originally Posted by bargain hunter

I agree with you that the rental market is and will stay rather bad for sometime. However, according to my agent, there have been some stirring in the prime areas.

Beware of what agents tell you. Remember that they always have an ulterior motive. They will say anything to make the sale happen, especially in times like this (developer sales strong but subsale and resale volumes are terrible).

If you're selling your apt, engage a different agent and see how they say VERY different things when you're the seller! Then you'll realize even the SAME agent will tell different stories to buyers and sellers!
16-05-09, 15:04
Property_Owner

Quote:

Originally Posted by firec

Beware of what agents tell you. Remember that they always have an ulterior motive. They will say anything to make the sale happen, especially in times like this (developer sales strong but subsale and resale volumes are terrible).

If you're selling your apt, engage a different agent and see how they say VERY different things when you're the seller! Then you'll realize even the SAME agent will tell different stories to buyers and sellers!

Dude, what happened between you n agents? You kena cheated before?
16-05-09, 16:04
firec

Quote:

Originally Posted by Property_Owner

Dude, what happened between you n agents? You kena cheated before?

Nothing. Just don't like the way they operate. They are like 2 headed snakes, say one thing to buyer and say totally different thing to seller. But to each his own. Some forummers here are agents as well.
16-05-09, 16:55
sun

Quote:

Originally Posted by firec

Nothing. Just don't like the way they operate. They are like 2 headed snakes, say one thing to buyer and say totally different thing to seller. But to each his own. Some forummers here are agents as well.

100% agree. I myself ever met this kind of agent. To be fair, I think not all agents are like that, may be 10%-20%. So you easily have this kind of agent.
16-05-09, 17:09
home-run

Quote:

Originally Posted by sun

100% agree. I myself ever met this kind of agent. To be fair, I think not all agents are like that, may be 10%-20%. So you easily have this kind of agent.

@ the end of the day, it's part and parcel of negotiating and bridging expection on both sides...u sell ur home at a reasonable mkt rate...the buyer gets himself a home tt he sees is worth paying for. It's just a job. Agents are also human beings...they have family like u do, they are making a decent living. So who are u to insult their profession? At the end of the day, it boils down to willing buyer, willing seller. Not happy with agent, then do it by yourself lah.(provided u know how to) U still got to do your own homework n use ur own intellectual judgement. An agent can only do that much.:spliff:
16-05-09, 17:15
smizms

Quote:

Originally Posted by zinky

remember the low low prices in 2006?

not sars, not stock market - just low demand that caused the low prices.

stock market was high then.

property is always at its lowest 6-18 months after stock bottom.

so if march is bottom, then property only bottom in sept - december.

easily 20-30% more.

people spend money on stock first, then spend on property, so only property start to make money then

the current high sales is due to demand from upgraders - who are looking for a place to live - ie. not investors looking for rental returns - the real source for long term growth - why no investors? cuz there are no expats coming to singapore to work = no rental. EVEN the Chinese are not coming.

the rental market is in a terrible state now.

so mr agent, mr funny, please stop misleading buyers. i think its very evil of you guys to bluff un-informed buyers into buying into hype.

I agree with you, if there is not strong demand in the rental market, what is the value to invest the property market?

A lot of agents are selling property with tenant now, Do you believe the resale market will rebounce?
16-05-09, 17:38
sun

Quote:

Originally Posted by home-run

@ the end of the day, it's part and parcel of negotiating and bridging expection on both sides...u sell ur home at a reasonable mkt rate...the buyer gets himself a home tt he sees is worth paying for. It's just a job. Agents are also human beings...they have family like u do, they are making a decent living. So who are u to insult their profession? At the end of the day, it boils down to willing buyer, willing seller. Not happy with agent, then do it by yourself lah.(provided u know how to) U still got to do your own homework n use ur own intellectual judgement. An agent can only do that much.:spliff:

I dont mean to insult any one here, just want to share my story and advises. I may be totally wrong, you can dont want to agree. :doh:
16-05-09, 18:38
smizms

Quote:

Originally Posted by home-run

@ the end of the day, it's part and parcel of negotiating and bridging expection on both sides...u sell ur home at a reasonable mkt rate...the buyer gets himself a home tt he sees is worth paying for. It's just a job. Agents are also human beings...they have family like u do, they are making a decent living. So who are u to insult their profession? At the end of the day, it boils down to willing buyer, willing seller. Not happy with agent, then do it by yourself lah.(provided u know how to) U still got to do your own homework n use ur own intellectual judgement. An agent can only do that much.:spliff:

What agent say is depandant on his job. As a buyer, it is necessary to do his own homework well and make your own decision.
16-05-09, 19:14
apple3

Quote:

Originally Posted by bargain hunter

I think the initial post was rather neutral. He was just presenting the headline as printed by the media. There was no post under this thread that was screaming buy calls or trying to mislead anyone.

I agree with you that the rental market is and will stay rather bad for sometime. However, according to my agent, there have been some stirring in the prime areas. These people are unlikely to be HDB upgraders, perhaps, not even locals. I guess its true that there are Indonesian buyers coming in to selectively buy prime properties but I'm not sure what are the reasons behind it. Perhaps its just a place for them to park their cash. Who knows, it might just be a short rebound which cannot be sustained.

Mr jitkiat is never neutral.

Hi pal, how you doing?
16-05-09, 19:22
jitkiat

Quote:

Originally Posted by apple3

Mr jitkiat vbmenu_register("postmenu_53644", true); is never neutral.

Hi pal, how you doing?

Hi apple3, I am doing fine. I bumped into my former colleague today, he told me he was forced out of Bedok Reservoir HUDC Enbloc at a unbelievable 660k price. The deal was sealed before the property market took off but the money only came in after property market skyrocketed in 2007/08. And even now that 660k can only buy a PIE facing 2 bedroom unit in WFW today. I guess whether we are bullish or bearish, at least we have a choice to choose to enter now or later. For people who are forced out of enbloc, they really have no choice. And for the Gillman heights enbloc owners, the sales has not even completed until today :banghead:

As for my technical analysis, it is important that S&P500 holds the 875 support. Otherwise, we may see a serious correction in STI real soon to the delights of all the bears out there.
16-05-09, 21:31
teddybear

Quoting part of From Business Times which shows data that sales in high-end properties has jumped to 19-month high, an indication that high-end property market is stirring. (read BT for complete article)

Business Times - 16 May 2009
Upmarket homes start to sell as momentum rises
Sales in core central region get big boost in April, soaring to 19-month high of 322 units

THE high-end property market - which has remained subdued since the beginning of the year even as activity increased in the mass-market segment - started to move in April.
According to data from the Urban Redevelopment Authority (URA), some 1,207 units were sold by developers last month. And unlike in the first three months of the year, homes in Singapore's core central region (CCR) - which includes the prime District 9, Marina Bay and Sentosa - sold as well, with transaction volumes there soaring to a 19-month high of 322 units. In contrast, only 133 homes were sold in the CCR in March.
....................
Colliers' analysis showed that there was a significant jump in the number of new units sold in April in the range of $1,500 per square foot (psf) and above. Some 90 units were sold at above $1,500 psf in April, compared to less than 12 units a month in the preceding six months. Of note, Illuminaire on Devonshire sold all of its 72 newly launched units at a median price of $1,703 psf.
Homes in the $1,000-$1,500 psf price range also sold well. Projects with significant numbers of units sold in this price range include the 51-unit BelleRive on Keng Chin Road (where all 21 units launched in April were sold for $980-$1,404 psf) and Attitude at Kim Yam in the River Valley area (where 22 out of the 33 units launched were sold for $1,157-$1,306 psf).
.........................
Analysts said there could be a variety of reasons why the buying momentum carried on from February and March. Some 1,332 homes were sold in February, and another 1,220 in March - a huge pick-up in sales volume after just 108 homes were sold in January.
Talk that the United States and Singapore economies are recovering, combined with the recent stockmarket rally, could have injected confidence and lifted the sentiments of potential buyers, analysts said.
There is also an increasing sense among potential homebuyers that home prices could be nearing bottom, with URA's statistics showing that private home prices chalked up their worst-ever quarterly decline of 14.1 per cent in Q1. Developer sales for the January-April period are already about 90 per cent of all developer sales in 2008.
.......................