A few CCR transactions sold at a loss (reported in The Edge)

[jwong71]

The days of $3xxk

http://www.propertyguru.com.sg/listi...-xxx-casa-aera

http://www.iproperty.com.sg/property...tes-CO-ForSale

so how many of these buyers 398k exited the market and

how many of owners paid 600k,700k,800k are in the market..?

[hyenergix]

so how many of these buyers 398k exited the market and

how many of owners paid 600k,700k,800k are in the market..?

U prob have to find e answers urself

[jwong71]

do you think the govt

a) encourage for cheaper housing, lesser interest paid and if one loses his job mortgage installments is manageable.

or

b) encourage expensive housing, more interest paid and if one loses his job mortgage will be easier to manage..?

[bargain hunter]

#05-13 finally sold at $2m.

Holland Residences developer fire sale, any takers?

2 bedroom + Roof Terrace 1754 sq ft $11xxpsf

Previous similar penthouse unit caveat:

22 Feb 2010 #05-11 1722 sq ft 1466psf $2,525,400

Recent standard unit (without roof terrace) caveat:

29 Aug 2013 #02-14 980 sq ft 1909psf $1.87m

[economist]

#05-13 finally sold at $2m.

wow, there was a transaction just one month ago at $2.4m for a 1,356 sqft unit...

[bargain hunter]

that's different. i think that's a 3 bedroom standard sized unit while the above is a 2 bedder penthouse with a roof terrace.

wow, there was a transaction just one month ago at $2.4m for a 1,356 sqft unit...

[Heng]

that's different. i think that's a 3 bedroom standard sized unit while the above is a 2 bedder penthouse with a roof terrace.

3 similar but smaller 2 bedder penthouses are on sale by developer : one is showroom unit

#05-12
#05-14
#05-15

[bargain hunter]

wah, i didn't know there are still so many unsold developer units.

are the prices cheaper than $2m?

3 similar but smaller 2 bedder penthouses are on sale by developer : one is showroom unit

#05-12
#05-14
#05-15

[Heng]

wah, i didn't know there are still so many unsold developer units.

are the prices cheaper than $2m?

05-12 advertised for sale at 2.08m by cbre ann teo : see attached

Property Name: Holland Residences
Property Type: Condominium
Price: S$ 2,080,000
Price (psf): S$ 1,287.93 psf (built-up)
Floor Area: 1,615 sqft / 150.04 sqm (built-up)

Developer: Allgreen Properties Limited
Tenure: Freehold
TOP Year: 2013

[DC33_2008]

Can consider at 1,200psf for a FH development in Holland area.Must check layout and reason to sell.

05-12 advertised for sale at 2.08m by cbre ann teo : see attached

Property Name: Holland Residences
Property Type: Condominium
Price: S$ 2,080,000
Price (psf): S$ 1,287.93 psf (built-up)
Floor Area: 1,615 sqft / 150.04 sqm (built-up)

Developer: Allgreen Properties Limited
Tenure: Freehold
TOP Year: 2013

[bargain hunter]

the standard unit for stack 13 is 980 sq ft. 05-13 at 1755 sq ft implies " less usable" area of 775 sq ft (44.16%).

standard unit for stack 12 is 958 sq ft. 05-12 at 1615 sq ft implies "less usable" area of 657 sq ft (40.68%).

05-12 advertised for sale at 2.08m by cbre ann teo : see attached

Property Name: Holland Residences
Property Type: Condominium
Price: S$ 2,080,000
Price (psf): S$ 1,287.93 psf (built-up)
Floor Area: 1,615 sqft / 150.04 sqm (built-up)

Developer: Allgreen Properties Limited
Tenure: Freehold
TOP Year: 2013

[bargain hunter]

its a developer unit and I had just posted about the amount of "less usable" area above which accounts for the lower psf.

Can consider at 1,200psf for a FH development in Holland area.Must check layout and reason to sell.

[DC33_2008]

Developer already makes the free GFA from URA.

its a developer unit and I had just posted about the amount of "less usable" area above which accounts for the lower psf.

[Heng]

05-12 advertised for sale at 2.08m by cbre ann teo : see attached

Property Name: Holland Residences
Property Type: Condominium
Price: S$ 2,080,000
Price (psf): S$ 1,287.93 psf (built-up)
Floor Area: 1,615 sqft / 150.04 sqm (built-up)

Developer: Allgreen Properties Limited
Tenure: Freehold
TOP Year: 2013

-----------------------------
Showroom unit #05-15 advertised for sale by CBRE Neo
S$ 1,315.02 psf (built-up)

1,711 sqft / 159 sqm (built-up)

5 Taman Warna, 276342 Tanglin / Holland, Orchard / Holland (D09-10)


see attached

[teddybear]

Too bad, too big units won't sell because few want to buy now.........................
They should chop into 3 units of about 550 sqft each and sell at $13xx psf may be more affordable!

-----------------------------
Showroom unit #05-15 advertised for sale by CBRE Neo
S$ 1,315.02 psf (built-up)

1,711 sqft / 159 sqm (built-up)

5 Taman Warna, 276342 Tanglin / Holland, Orchard / Holland (D09-10)


see attached

[eng81157]

is this too good to be true??! really good deal in my opinion. can't find any listing that is close to $2m on propertyguru leh

[eng81157]

oops sorry, found the listings - 2BR PH
in that light, perhaps not too attractive

[seletar]

http://sbr.com.sg/residential-proper....LEAZVvnY.dpuf
Published 10 April 2014

Lower sales, hefty extension charges feared to knock down Singapore’s luxury segment


Buyers likely to delay purchases.

According to CIMB, given supply concerns and policy curbs, it expects a buyers’ market with little pricing power for the developers in 2014-16. CIMB predicts a 10-15% drop in property prices in the next two years but expects high-end developments to be affected by a greater degree with looming extension charges and higher price sensitivity within upgraders.

Here's more:

The mid-term supply concern is widely known, with physical completions at almost twice the historical supply and take-up. Knowing that high-end developments may face hefty extension charges in 2016, buyers have all the more reason to postpone purchases and wait for developers to cut prices to clear inventories.

We have forecast a 10-15% drop in property prices in the next two years but expect high-end developments to be affected by a greater degree.


Sluggish demand within high-end residential market

The government’s tightening policies such as additional buyers’ stamp duty (ABSD) and total debt servicingratio (TDSR) have reined in buying appetite, especially in the high-end residential market.

The falling new home sales are largely supported by upgraders, as demonstrated by the rising proportion of purchaser with HDB address. We believe this group is generally more price sensitive and favours the mass-market segment.

Consequently, buying activities in the core central region (CCR) and for units priced above S$1,600 psf are subdued. If the sluggish demand for high-end residential properties continues, developers with significant unsold inventories of high-end developments may be negatively affected by the extension premium.


Extension premium scheme for government sale sites

The Residential Property Act (RPA) requires foreign developers, which include listed housing developers, to apply for a qualifying certificate (QC) to purchase any interest in residential properties.

Under current conditions required to obtain a QC, housing developers are required to complete construction within the 5-year project completion period (PCP) and sell within two years of obtaining the temporary occupation permit (TOP), failure of which will subject the developer to an extension premium.

The extension premium is calculated based on the period of extension, as a proportion of tendered land price and pro-rated for the unsold proportion for completed projects.

The governing agencies do, from time to time, grant exemptions and adjust the PCP according to market conditions, some of which are listed below. The PCP was extended in 1997 and 2009, during which the property price index (PPI) fell 10-20%. Given that the PPI has yet to witness declines at previous levels, we assume that the PCP will not be


2014-2016 – a buyers’ market

The mid-term supply issue is widely known, with physical completion being more than twice the historical supply and take-up. We expect this to lead to higher vacancy rates and downward pressure on both rents and property prices.

In other words, it will be a buyers’ market with little pricing power for the developers.

[catsick]

Do we know which ccr properties are getting close to this limit ? I know sc global was very exposed on this and hence the company was taken private, but do we know which buildings will face this charge within the next 12 months , that will be where the bargains should be found !

[bargain hunter]

Turquoise #02-09 2777 sq ft back on the mortgagee auction market by DTZ on 23 Apr 2014.

Bought on 2 Nov 2007 at $7,090,160 2553psf. losing 20% at 5.6m also hard to get takers. maybe someone from China will bid 5m like for the draycott 8 unit.

[teddybear]

Property prices going to crash within these 2 years (unless CMs are relax)!

http://sbr.com.sg/residential-proper....LEAZVvnY.dpuf
Published 10 April 2014

Lower sales, hefty extension charges feared to knock down Singapore’s luxury segment


Buyers likely to delay purchases.

According to CIMB, given supply concerns and policy curbs, it expects a buyers’ market with little pricing power for the developers in 2014-16. CIMB predicts a 10-15% drop in property prices in the next two years but expects high-end developments to be affected by a greater degree with looming extension charges and higher price sensitivity within upgraders.

Here's more:

The mid-term supply concern is widely known, with physical completions at almost twice the historical supply and take-up. Knowing that high-end developments may face hefty extension charges in 2016, buyers have all the more reason to postpone purchases and wait for developers to cut prices to clear inventories.

We have forecast a 10-15% drop in property prices in the next two years but expect high-end developments to be affected by a greater degree.


Sluggish demand within high-end residential market

The government’s tightening policies such as additional buyers’ stamp duty (ABSD) and total debt servicingratio (TDSR) have reined in buying appetite, especially in the high-end residential market.

The falling new home sales are largely supported by upgraders, as demonstrated by the rising proportion of purchaser with HDB address. We believe this group is generally more price sensitive and favours the mass-market segment.

Consequently, buying activities in the core central region (CCR) and for units priced above S$1,600 psf are subdued. If the sluggish demand for high-end residential properties continues, developers with significant unsold inventories of high-end developments may be negatively affected by the extension premium.


Extension premium scheme for government sale sites

The Residential Property Act (RPA) requires foreign developers, which include listed housing developers, to apply for a qualifying certificate (QC) to purchase any interest in residential properties.

Under current conditions required to obtain a QC, housing developers are required to complete construction within the 5-year project completion period (PCP) and sell within two years of obtaining the temporary occupation permit (TOP), failure of which will subject the developer to an extension premium.

The extension premium is calculated based on the period of extension, as a proportion of tendered land price and pro-rated for the unsold proportion for completed projects.

The governing agencies do, from time to time, grant exemptions and adjust the PCP according to market conditions, some of which are listed below. The PCP was extended in 1997 and 2009, during which the property price index (PPI) fell 10-20%. Given that the PPI has yet to witness declines at previous levels, we assume that the PCP will not be


2014-2016 – a buyers’ market

The mid-term supply issue is widely known, with physical completion being more than twice the historical supply and take-up. We expect this to lead to higher vacancy rates and downward pressure on both rents and property prices.

In other words, it will be a buyers’ market with little pricing power for the developers.

[walkthetiger]

Property prices going to crash within these 2 years (unless CMs are relax)!

.....Just recently there was someone here asked about using CPF to invest properties... Can't believe it......another one who thinks he is in luck now....

[stalingrad]

Property prices going to crash within these 2 years (unless CMs are relax)!

Didn't I tell you that 7 years ago?

[teddybear]

Ha ha ha! If you told us 7 years ago, you would have missed the 2009-2012 big PRICE run up chance to make big profit!
As such, timing is very very important!
You are just too early!
On the other hand, I told you to buy in 2009, in the early stage of PRICE run up! Did you buy at that time?

Didn't I tell you that 7 years ago?

[stalingrad]

Ha ha ha! If you told us 7 years ago, you would have missed the 2009-2012 big PRICE run up chance to make big profit!
As such, timing is very very important!
You are just too early!
On the other hand, I told you to buy in 2009, in the early stage of PRICE run up! Did you buy at that time?

I told you to get out of CCR properties, and invest in OCR properties. If you had listened to me, instead of wasting your time arguing me us, you would be a billionaire today.

[phantom_opera]

Didn't I tell you that 7 years ago?

wow ... i don't need any prediction 7y ago or 7y in the future, just tell me 7m ahead ok

[teddybear]

Anybody who can do that accurately and consistently can only be god..........
I can't! I can only guess, and for property I can guess 2-3 years ahead, but stocks is a different ball game altogether!

wow ... i don't need any prediction 7y ago or 7y in the future, just tell me 7m ahead ok

[teddybear]

ai yo yo, if you have bought in early 2009, regardless of whether you buy OCR or CCR you would have made a bundle!

I told you to get out of CCR properties, and invest in OCR properties. If you had listened to me, instead of wasting your time arguing me us, you would be a billionaire today.

[bargain hunter]

why can't believe it? he wants to use cpf to pay ABSD rite?

.....Just recently there was someone here asked about using CPF to invest properties... Can't believe it......another one who thinks he is in luck now....

[stalingrad]

ai yo yo, if you have bought in early 2009, regardless of whether you buy OCR or CCR you would have made a bundle!

Hi, little twirp, don't change topic. I alone debated the whole gaggle of you in 2007, 2008, and 2009. I argued that CCR properties are overvalued and had no place to go but down, and you guys jumped on me and used all kinds of foul language against me. You, HP65, XeBay, August, Reporter, Avatar, and many more are a bunch of losers. I called you losers because you had eyes but your eyes were blind to where real estate in Singapore was going.