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Thread: Private home sales in June drop 25% on-month

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    Default Private home sales in June drop 25% on-month

    Private home sales in June drop 25% on-month
    By Linette Lim | Posted: 15 July 2011 1340 hrs

    SINGAPORE: Sales of private homes fell 25 per cent in June from a month earlier, according to data released on Friday by the Urban Redevelopment Authority (URA).

    A total of 1,182 private residential units were sold last month, down from 1,575 units in May.

    Private homes in the Outside Central Region (OCR) accounted for 833 of the units sold in June, compared with 227 units in the Rest of Central Region (RCR) and 122 units in the Core Central Region (CCR).

    Including Executive Condominiums (ECs), the total sales in June would have been higher, at 1,394 units.

    The most expensive property sold in June was Le Nouvel Ardmore at Ardmore Park, where a unit was sold at a median price of S$4,362 per square foot.

    Chalking up the best sales was Woodhaven at Woodgrove Avenue, which sold 155 units at a median price of S$981 per square foot.

    The best selling EC was Belysa at Pasir Ris Drive 1, which sold 153 units at a median price of S$700 per square foot.

    - CNA/al
    BE CENTRED BY ALL AT THE FRINGE OF THE CITY @

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    This will at least ensure that even if there's CM5, it'll not be targetted at buyers.

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    Confirm no cm5

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    Yah, the effects of CM4 are showing. Most probably no CM5 because it is not their plan to crash the property market.

    Prices will remain stable for a while now.

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    Quote Originally Posted by azeoprop
    Yah, the effects of CM4 are showing. Most probably no CM5 because it is not their plan to crash the property market.

    Prices will remain stable for a while now.
    Now? Hopefully because even May's sales volume dipped too but the prices appeared (and so I perceived) to be climbing. The climb probably persisted well into June. Will this trend of falling volume and rising prices carry on or am I perceiving wrongly?

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    This could be general trend but it may not apply to some locations. I was offered a much higher price for my units recently. It is still location, location and location!!!
    Quote Originally Posted by ysyap
    Now? Hopefully because even May's sales volume dipped too but the prices appeared (and so I perceived) to be climbing. The climb probably persisted well into June. Will this trend of falling volume and rising prices carry on or am I perceiving wrongly?

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    seow liao

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    Quote Originally Posted by ysyap
    Now? Hopefully because even May's sales volume dipped too but the prices appeared (and so I perceived) to be climbing. The climb probably persisted well into June. Will this trend of falling volume and rising prices carry on or am I perceiving wrongly?
    I think otherwise. Falling sales means less buyers meeting sellers asking price. Thus in the following month, if buyers still want sales they may need to lower
    The asking price. Logically it seems so.

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    Quote Originally Posted by Geylang OKT
    seow liao
    Haha...

    Shooting time....

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    Quote Originally Posted by mogyi
    I think otherwise. Falling sales means less buyers meeting sellers asking price. Thus in the following month, if buyers still want sales they may need to lower
    The asking price. Logically it seems so.
    Not really.. since 2009 till now.. there were various months of low volume.. but the price just keep climbing..

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    Quote Originally Posted by ysyap
    Now? Hopefully because even May's sales volume dipped too but the prices appeared (and so I perceived) to be climbing. The climb probably persisted well into June. Will this trend of falling volume and rising prices carry on or am I perceiving wrongly?
    Asking prices climb over the months, ZERO transactions in last two months, 10% of estate advertised for sale...scenario is possible?

    Scenario is real...D23...

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    Asking prices definitely increased, but hardly any transactions now. Pp r switching to 99LH from developers, EC n BTO from HDB now.

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    Quote Originally Posted by mogyi
    I think otherwise. Falling sales means less buyers meeting sellers asking price. Thus in the following month, if buyers still want sales they may need to lower
    The asking price. Logically it seems so.
    Logic may not = Reality... Some call it virtual reality. We are all living in a virtual world .

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    Quote Originally Posted by mogyi
    I think otherwise. Falling sales means less buyers meeting sellers asking price. Thus in the following month, if buyers still want sales they may need to lower
    The asking price. Logically it seems so.
    Conversely, if buyers still want to buy, they need to raise their offer
    Sellers are more firm on their asking price because of the increase cost involved if they were to sell and buy another property. They price in the restrictions their next property investment.

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    Actually its all so true. I've seen unsold resale units in the market whose asking price actually rose over the months according to market sentiments and movement. Then again maybe these sellers are not really genuine. Look out for firesales. These are really the good deal but hard to find and hard to compete with others even when you find one...

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    Good deals are the new ECs and BTOs. The rest are crap.

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    Quote Originally Posted by hyenergix
    Good deals are the new ECs and BTOs. The rest are crap.
    Yes.. Although i think that pasir ris ec belysa location is shit, but 5xx k for a 3 bedder is just ......... owning.. now 5xx k can only buy a 1 bedder condo in lousy OCR locations..

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    Quote Originally Posted by hyenergix
    Good deals are the new ECs and BTOs. The rest are crap.
    Cannot buy leh....

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    Quote Originally Posted by ysyap
    Actually its all so true. I've seen unsold resale units in the market whose asking price actually rose over the months according to market sentiments and movement. Then again maybe these sellers are not really genuine. Look out for firesales. These are really the good deal but hard to find and hard to compete with others even when you find one...
    No desperate sellers = no firesales leh....

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    Quote Originally Posted by sh
    No desperate sellers = no firesales leh....
    no desperate buyers= no deal

    all "jia bao buay bao"

    either waiting for property opportunity, or elsewhere opportunity nia lolx.

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    Quote Originally Posted by sh
    No desperate sellers = no firesales leh....
    I have a cure for your problem:

    http://buddhism.about.com/od/basicbu...gs/a/greed.htm

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    While the sales volume may have dropped, "private home prices have also continued to rise in the second quarter of this year, but at a slower pace compared to HDB flats."
    http://forums.condosingapore.com/showthread.php?t=11668

    Quote Originally Posted by hyenergix
    Good deals are the new ECs and BTOs. The rest are crap.
    If people qualify for EC, they should buy EC.
    If they qualify for BTO, they better not over-estimate their ability to service their loan (unless they earn very low salary but have alot of cash from other sources).
    The majority of people who buy / are intending to buy condo do not qualify for EC and BTO.

    Quote Originally Posted by linchong84
    Yes.. Although i think that pasir ris ec belysa location is shit, but 5xx k for a 3 bedder is just ......... owning.. now 5xx k can only buy a 1 bedder condo in lousy OCR locations..
    For 450K - 5xxK you can get <500 sq ft 1 bedder in the fringe, near MRT.

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    Quote Originally Posted by evergreen
    For 450K - 5xxK you can get <500 sq ft 1 bedder in the fringe, near MRT.
    5xx k can buy yes.. 450k - 490k buy near MRT? Slowly wait..

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    I just bought District 13, 8 mins walk from MRT, freehold, new launch, 490K.

    There are some Geylang ones 450K near MRT but I don't recommend buying them.

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    Near Potong Pasir?
    Quote Originally Posted by evergreen
    I just bought District 13, 8 mins walk from MRT, freehold, new launch, 490K.

    There are some Geylang ones 450K near MRT but I don't recommend buying them.

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    Quote Originally Posted by linchong84
    Yes.. Although i think that pasir ris ec belysa location is shit, but 5xx k for a 3 bedder is just ......... owning.. now 5xx k can only buy a 1 bedder condo in lousy OCR locations..
    Comopare it with other "shitty" deals....people buying next door livia for 1K psf..
    EC and BTO much better value for money, anyday..

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    Quote Originally Posted by rockinsg
    Comopare it with other "shitty" deals....people buying next door livia for 1K psf..
    EC and BTO much better value for money, anyday..
    as well a better bets, in current market sediments.

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    Younger generation wants class these days. Private condos and EC has a difference for them.
    Quote Originally Posted by jwong71
    as well a better bets, in current market sediments.

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    Repeated post

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    Quote Originally Posted by DC33_2008
    Younger generation wants class these days. Private condos and EC has a difference for them.
    what class? after 10 years EC and pte are same..

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