Watertown....overwhelming response...price cut??

[radha08]

http://www.propertyguru.com.sg/prope...wn-reduced-5-8-

developer cut 5 to 8%...causing OVERWHELMING response...

[Rezo]

http://www.propertyguru.com.sg/prope...wn-reduced-5-8-

developer cut 5 to 8%...causing OVERWHELMING response...

Good news!!!I believe it will have snowballing effect!!!

[minority]

Marking it up high hgh the reduce price don't constitute as cut price to me. More like FEO tactics to use media to hype n sell more of its project. FEO is always bs.

[DKSG]

Marking it up high hgh the reduce price don't constitute as cut price to me. More like FEO tactics to use media to hype n sell more of its project. FEO is always bs.

Those working in Marketing or sales must really learn from FEO. They are always fast to react and build the momentum back. Last year, they did the same thing for Waterfront Isle, drop price quick and sharp for a short while, build momentum for demand, then move the price back!

DKSG
Stay Calm and Cool
PS: Me not affliated in anyway with FEO.

[rattydrama]

good to get people excited and get them to commit. Dont forget FEO slogan is buy early to prevent future price increase.

all would be buyers will jump in knowing that FEO will nvr drop price.

all other developers eat grass liao.

[richie$$$]

c which developer no wan 2 cash out.
sell 2 buyers..like 1 forumer said..pass risk 2 buyers
developer runs faster than buyers

[rattydrama]

c which developer no wan 2 cash out.
sell 2 buyers..like 1 forumer said..pass risk 2 buyers
developer runs faster than buyers

if many developers lower their prices by 20-30% to clear. will be intersting to see who break first.

could be bad for FEO to push so hard... forced many other developers to lower more....

buyer beware....

[richie$$$]

developers still hv profits fm last fewyrs
smaller or 1 time project developer will suffer
or those who bght land but nt build yet will suffer more..hldg cost

[ysyap]

Here is greater proof that govt's weak and miserable attempt to cool property prices through CM5 has failed simply because they only target the investors, like CM4. 4yr SSD, 60% LTV for 2nd mortgage loans and ABSD for 3rd or subsequent properties for locals is simply not addressing the issue. Hillier and now Watertown? Govt is simply too worried to upset 80% of Singaporeans therefore tries to work through the other 20%. Now that it failed over 2 CMs, it is blatantly clear that CM6 should be introduced quickly and targetted at the other 80%. Watch this space...

[chiaberry]

Then almost everyone will end up hating the govt. I think a lot of S'poreans' "wealth" is locked up in pty, including HDB. A lot of them are also dependent on the pty market for their livelihood. If this avenue of asset enhancement and income generation is reduced significantly or taken away, there will be even more resentment on the ground. The Opposition are sitting pretty here. They don't even have to do anything. The more CMs, the less happy will be the S'poreans. I wonder how many S'poreans are really rejoicing at the CMs and praising the govt? I think most are groaning every time there is a new CM.

[azeoprop]

Those working in Marketing or sales must really learn from FEO. They are always fast to react and build the momentum back. Last year, they did the same thing for Waterfront Isle, drop price quick and sharp for a short while, build momentum for demand, then move the price back!

DKSG
Stay Calm and Cool
PS: Me not affliated in anyway with FEO.

Haa haa, I was a victim of WFI, bought on CNY. Yes, they gave deep discount with final price to be slightly less than WFG launched 6 months earlier.

Now the psf of watertown with all discounts end up to be only slightly higher than ATT, considering the finishes and location, it seems to be a great deal. Some ATT owners are

[ysyap]

Then almost everyone will end up hating the govt. I think a lot of S'poreans' "wealth" is locked up in pty, including HDB. A lot of them are also dependent on the pty market for their livelihood. If this avenue of asset enhancement and income generation is reduced significantly or taken away, there will be even more resentment on the ground. The Opposition are sitting pretty here. They don't even have to do anything. The more CMs, the less happy will be the S'poreans. I wonder how many S'poreans are really rejoicing at the CMs and praising the govt? I think most are groaning every time there is a new CM.

Can't agree more... there are 2 big issues here.

1. Appreciating asset values is absolutely meaningless if its just paper value. This form of asset enhancement only makes sense for multiple properties owners. Sell high only to buy even higher is not logical and so yes, it'll definitely not win the votes of these group of citizens.

2. Like you rightly pointed out, these CMs are simply making more people unhappy and clearly, CMs directed at the majority of buyers will certainly incur more wrath . There is a fundamental problem here. Foresight is the key. If govt have foreseen this sticky business, more should have been done before any need for CM to cool the market. Someone pointed out that 10 years ago, HDB had huge oversupply, resulting in WIS. Then a sudden undersupply that spiked housing prices to sky high figures and now trying to oversupply again. What is this? A game of see-saw or an apparent lack of foresight by the relevant authorities?

[ecimbew]

Within just five hours yesterday, over 160 of the 250 units released were sold at the preview of Watertown, the first integrated waterfront residential and retail development in Singapore.

Almost 90 percent of the buyers were Singaporeans, with the SOHO Apartments and Suites receiving the most interest.

http://www.propertyguru.com.sg/prope...-up-in-preview

[kane]

CM6 coming...

[chiaberry]

Wow, S'poreans are lemmings. All jump into the unknown waters together. Kudos to FEO. They have managed the market perfectly to their advantage. KBW must be gulping down his medication to prevent further heart attack. CM6 may be round the corner indeed. PAP have not done anything to increase their votes for next election so far. If anything, I suspect their votes may have gone down. The housing and transport issues are not getting any better. In fact, seem to have gotten worse. The old guard must be glad that they are having a happy retirement with their nice pensions whereas the new kids have to slog through crisis after crisis to clean up after them and with their salary and pension slashed somemore.

[mantrix]

Haa haa, I was a victim of WFI, bought on CNY. Yes, they gave deep discount with final price to be slightly less than WFG launched 6 months earlier.

Now the psf of watertown with all discounts end up to be only slightly higher than ATT, considering the finishes and location, it seems to be a great deal. Some ATT owners are

but ATT owners got their ghost house hor
Watertown owners only got giant mall nia.

[ay123]

don think there will be cm6 anytime now. if govt continue with cm6, is admitting that they are so incapable, despite coming ut with so many cms

[Rosy]

I am really surprised to see the response given cm5 imposed recently.

1080psf for a far end location. Is palette at 850-950psf a better buy?

[Rosy]

don think there will be cm6 anytime now. if govt continue with cm6, is admitting that they are so incapable, despite coming ut with so many cms

i do not agree. it is not about capability of the government

we need to see prices rising too quickly for next few Q in order to have a cm6

[chiaberry]

but ATT owners got their ghost house hor
Watertown owners only got giant mall nia.

I don't see such a big deal with giant mall. Compass Point has a development on a mall with MRT and for a long time, the price doesn't shoot up that well. Somemore living on top of mall with MRT it is rather congested esp at weekends. You would be sianz to have cars crowding around your place, no peaceful weekend ambience for you.

I see the crowd around Nex at the weekends.....can faint....I oso dun feel like going near that place at weekends. If I lived on top of Nex I would be

[Leeds]

Then almost everyone will end up hating the govt. I think a lot of S'poreans' "wealth" is locked up in pty, including HDB. A lot of them are also dependent on the pty market for their livelihood. If this avenue of asset enhancement and income generation is reduced significantly or taken away, there will be even more resentment on the ground. The Opposition are sitting pretty here. They don't even have to do anything. The more CMs, the less happy will be the S'poreans. I wonder how many S'poreans are really rejoicing at the CMs and praising the govt? I think most are groaning every time there is a new CM.

Allow me to offer a contrary view for the purpose of healthy discussions. For people with single property and owner occupier (the majority of the population) they can only feel good when their only asset value goes up. Should prices go down, they are not affected in anyway either.

For those who own multiple properties for investment purposes, they are not much affected by price movement if their sole purpose is to collect rents. For a smaller group of people with multiple properties will welcome high property prices because they could either average down their costs or sell some to buy more.

There are many first-timers who are not happy with high prices. Majority of the single asset owners who aspire to own more than one properties (majority of the population as discussed) will also not be happy with high prices.

Taking this view, the majority of the population should not be happy with high property price. The government has also come to realise that their asset enhancement scheme is no longer making people happy because prices have risen to such high level and not inline with income or per capital income. The government also realise that the average couples are taking 25 to 30 to finance their homes. People are highly stress with high gearing and less opportunity to property investment except for the minority "rich". Politically, anywhere in the world, high property prices will cause social divide and to some extend, social unrest like in China.

I am taking the view that the majority of the population (above 50%) are not happy with high property prices which I believe is consistent with the government's thinking and thus expect more CMs if the minority is causing market unbalance..

[peterng8]

Can't agree more... there are 2 big issues here.

1. Appreciating asset values is absolutely meaningless if its just paper value. This form of asset enhancement only makes sense for multiple properties owners. Sell high only to buy even higher is not logical and so yes, it'll definitely not win the votes of these group of citizens.

2. Like you rightly pointed out, these CMs are simply making more people unhappy and clearly, CMs directed at the majority of buyers will certainly incur more wrath . There is a fundamental problem here. Foresight is the key. If govt have foreseen this sticky business, more should have been done before any need for CM to cool the market. Someone pointed out that 10 years ago, HDB had huge oversupply, resulting in WIS. Then a sudden undersupply that spiked housing prices to sky high figures and now trying to oversupply again. What is this? A game of see-saw or an apparent lack of foresight by the relevant authorities?

al la mat how can u say this? the garmen says they are paying top salary to get top talents for all these years.. and ironically only top talents can solve top problems created by other top talents previously..so ending up paying more and more top talents to solve the shit that who created in the first place? ....

[peterng8]

CM6 coming...

possible....so many areas to play with(capital tax, valuation etc), if CM5 cannot work, garmen no face to hide...and now with internet..people can just shoot on line and make a big hoo haa...

[teddybear]

I think you are dead wrong!

The fact is: Majority (except the small minority, <10 like you) are happy with govt's "Asset Enhancement Scheme". That is the only way for >80% of the Citizens to retire comfortably when they reach 60 years old! These people when they start work, buy a property big enough for whole family, when they retire can downgrade and cash out of the bigger property and can then retire!
Only those who despice and didn't heed govt's call on "Asset Enhancement Scheme", and who try to short property for personal gain are crying father-and-mother!
Without property price rising, there is no way for almost 80% of CITIZENS to retire comfortably at 60 years old!

Allow me to offer a contrary view for the purpose of healthy discussions. For people with single property and owner occupier (the majority of the population) they can only feel good when their only asset value goes up. Should prices go down, they are not affected in anyway either.

For those who own multiple properties for investment purposes, they are not much affected by price movement if their sole purpose is to collect rents. For a smaller group of people with multiple properties will welcome high property prices because they could either average down their costs or sell some to buy more.

There are many first-timers who are not happy with high prices. Majority of the single asset owners who aspire to own more than one properties (majority of the population as discussed) will also not be happy with high prices.

Taking this view, the majority of the population should not be happy with high property price. The government has also come to realise that their asset enhancement scheme is no longer making people happy because prices have risen to such high level and not inline with income or per capital income. The government also realise that the average couples are taking 25 to 30 to finance their homes. People are highly stress with high gearing and less opportunity to property investment except for the minority "rich". Politically, anywhere in the world, high property prices will cause social divide and to some extend, social unrest like in China.

I am taking the view that the majority of the population (above 50%) are not happy with high property prices which I believe is consistent with the government's thinking and thus expect more CMs if the minority is causing market unbalance..

[Leeds]

A healthy economy is one where property prices rises with rising income or per capital income. The asset enhancement scheme started by this government is relevant as long as prices rise with the support of economic fundamentals. People will continue to benefit from a rising property market in the long term. Property prices cannot be allowed to rise way beyond economic fundamentals and this is where the current problem is. The majority of the population will not benefit from such unsupported price rise. The government cannot be wrong trying to tame the property market if the market is healthy.

[richwang]

And with the property prices keep going up, there is no way for the children to pay their installment.

The median income for HDB 3 Rm appliants are S$2500.
Imagine a family of 4, how much you can sqeenze to pay for installament?
How many years you need to pay.
If you can squeez S$500 per month, to pay for 35 years, with 1% interest rate. You can only afford S$177K.
If the interest rate is 2.5%, you can only afford S$139K.

And how much is a new HDB 3-RM cost now?

Thanks,
Richard

[chiaberry]

The big enemy for us all is INFLATION. Some of us are not only buying to speculate or to make massive capital gains but as a hedge for inflation. In current climate it is very very difficult to find a financial instrument that is relatively "safe" for this purpose and also allows us to have some leverage to make some investment gains. That is why many have turned to property. If govt takes this away, there are lesser choices of where to park the $$$.

I take the point that govt trying to rein in the rising prices of property is to try and reduce the rich-poor divide. But I am not sure that it can work. The rich still have other and more creative ways to make their $$$. The poor and even the middle income families will have a hard time to catch up even if property prices are stagnant or decline. Some of the middle class were perhaps hoping for some capital gains from property in order to help them upgrade.

[Leeds]

The big enemy for us all is INFLATION. Some of us are not only buying to speculate or to make massive capital gains but as a hedge for inflation. In current climate it is very very difficult to find a financial instrument that is relatively "safe" for this purpose and also allows us to have some leverage to make some investment gains. That is why many have turned to property. If govt takes this away, there are lesser choices of where to park the $$$.

I take the point that govt trying to rein in the rising prices of property is to try and reduce the rich-poor divide. But I am not sure that it can work. The rich still have other and more creative ways to make their $$$. The poor and even the middle income families will have a hard time to catch up even if property prices are stagnant or decline. Some of the middle class were perhaps hoping for some capital gains from property in order to help them upgrade.

You hit the nail and it is true that only the minority has the means to park their funds in properties to hedge against inflation. This is where the problem lies and the government is trying to address that. Not doing anything is not an option and thus the various CMs. If the minority continues to "ignore" the CMs, more will come. The government cannot afford for the economy to cripple due to market disorder.

[chiaberry]

It will be a disaster to cripple the economy. Their chances of success at next election

The rich will bring their $$$ elsewhere thus double whammy for S'pore economy. The rich-poor divide will not be lessened. In fact may become even more marked as those "sandwich" class upper middle income wishing to dabble in property to rise up into the upper echelons are also the ones severely hit by the CMs dashing their hopes. Previously could have a share of the action by 20% down-payment. Now it's 40%.

Is it my imagination or is Mr Chen looking more and more like the cat that got the cream (mao)? This chaos in housing and transport is playing right into his hands (paws).

[peterng8]

It will be a disaster to cripple the economy. Their chances of success at next election

The rich will bring their $$$ elsewhere thus double whammy for S'pore economy. The rich-poor divide will not be lessened. In fact may become even more marked as those "sandwich" class upper middle income wishing to dabble in property to rise up into the upper echelons are also the ones severely hit by the CMs dashing their hopes. Previously could have a share of the action by 20% down-payment. Now it's 40%.

the message sent is only rich can play..those salary with bonus 1 million above ha ha