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

[amk]

I'm not sure why this transaction is generating such high levels of interest, but for what it's worth, the ppty in question is 22 Coral Island

for me it's because of the dates. very very strange. Bought Dec 12, sold Mar 13, not even 3 months apart. If the dates are correct, it has to be something very special.

(if I were compliance, this trade needs close inspection )

[Ringo33]

for me it's because of the dates. very very strange. Bought Dec 12, sold Mar 13, not even 3 months apart. If the dates are correct, it has to be something very special.

(if I were compliance, this trade needs close inspection )

I am hoping the media will report it, like way it was reported when it was purchase in Dec 12.

Maybe buyer saw another bigger plot and then sell this. To some crazy chinese maybe paying 16% ABSD is a good way to show off your wealth..

[hopeful]

for me it's because of the dates. very very strange. Bought Dec 12, sold Mar 13, not even 3 months apart. If the dates are correct, it has to be something very special.

(if I were compliance, this trade needs close inspection )

nothing strange. the truth is more mundane, not so sensational la.

Since it is resale, OTP is individualised, no need to follow standard format.
Dec 12, buyer B buy from seller A. find out need to pay humongous stamp duty , back out. buyer B lose only option fee.

Mar 13, seller A sell to buyer C. Another caveat lodged.

so it looks like buyer B lose a lot of money, but in reality, probably lose option fee only.

my own experience, buy property from developer. noticed that my unit has been caveated, and indicated as new sale. I asked agent how come like that, he said 1st buyer backed out of the purchase. So i am 2nd buyer, buying the same new unit from developer.
a few months later, i checked my own purchase, also indicated as new sale.
so the same unit number can have more than 1 "new sale".

in addition.
1st buyer buy at 3000psf.
2nd buyer (me) buy at 2000psf.
from squarefoot, 1st buyer lose 1000psf. but in reality, lose only option fee.
I did checked squarefoot, the website actually thinks 1st buyer lose 1000psf. not like dat la.

the way to check my scenario for 22 coral is to check INLIS. any sponsor?

[Ringo33]

nothing strange.

Since it is resale, OTP is individualised, no need to follow standard format.
Dec 12, buyer B buy from seller A. find out need to pay humongous stamp duty , back out. buyer B lose only option fee.

Mar 13, seller A sell to buyer C. Another caveat lodged.

so it looks like buyer B lose a lot of money, but in reality, probably lose option fee only.

my own experience, buy property from developer. noticed that my unit has been caveated, and indicated as new sale. I asked agent how come like that, he said 1st buyer backed out of the purchase. So i am 2nd buyer, buying the same new unit from developer.
a few months later, i checked my own purchase, also indicated as new sale.
so the same unit number can have more than 1 "new sale".

the way to settle it is to check INLIS.

Need to consider that ABSD on freigners was only 10% in Dec, 12, after Jan 12, its 15%. So there is actually no incentive for buyer B to back out from tax point of view.

[hopeful]

Need to consider that ABSD on freigners was only 10% in Dec, 12, after Jan 12, its 15%. So there is actually no incentive for buyer B to back out from tax point of view.

it doesnt matter whether it is 10% or 15%, the caveat system can be strange at times.
i have own personal experience regarding caveat lodges too, mentioned in earlier post.
i am pretty sure it is the same seller in Dec12 and Mar13 caveats.

only way to check is via INLIS

[lifeline]

for me it's because of the dates. very very strange. Bought Dec 12, sold Mar 13, not even 3 months apart. If the dates are correct, it has to be something very special.

(if I were compliance, this trade needs close inspection )

are you referring to laundering?

anyway caveat dates are for reference only and seldom accurate.
the purchase date can be earlier :
1. by 3 to 6 months due to late / slow filing.
2. or much much much earlier cos the loan drawdown was later (due to smaller loan quantum); therefore caveat was lodged later.

on rare occasions due to citizenship issues with sla, caveats are not even lodged or captured.

looked in this context, then magnitude of loss will be smaller and easier to fathom.



add-on:
hopeful gave another good scenario.

[bargain hunter]

BOUGHT 2007-07-27 1281 SQ FT 2937PSF
SOLD 2013-03-22 2700PSF

> 400K NET LOSS

[bargain hunter]

BOUGHT 2010-04-05 2243PSF 614 SQ FT
SOLD 2013-03-20 2119PSF

[phantom_opera]

BOUGHT 2010-04-05 2243PSF 614 SQ FT
SOLD 2013-03-20 2119PSF

hmm ... this one quantum not that high also sell at loss, project like Cyan will be in danger too

[chestnut]

BOUGHT 2007-07-27 1281 SQ FT 2937PSF
SOLD 2013-03-22 2700PSF

> 400K NET LOSS

Wa lau... In 2007, if bot OCR or RCR, now should be up at least 50%.

[august]

Wa lau... In 2007, if bot OCR or RCR, now should be up at least 50%.

2007 is peak for CCR.

[chestnut]

2007 is peak for CCR.

YUP... if not for CM, CCR would have started running......

[Ringo33]

Wa lau... In 2007, if bot OCR or RCR, now should be up at least 50%.

there are more to come in CCR. Many investors are liquidating their assets in Singapore to invest in places like Jakarta and Philippines.

[teddybear]

I can tell you that only the not-rich "invest" in places like Jakarta and Philippines. The rich invest in Singapore, HK, London, NY, ...

there are more to come in CCR. Many investors are liquidating their assets in Singapore to invest in places like Jakarta and Philippines.

[Ringo33]

I can tell you that only the not-rich "invest" in places like Jakarta and Philippines. The rich invest in Singapore, HK, London, NY, ...

Actually those who have invested in Jakarta would have made more money in the past few years as compared to London HK or new york.

[chestnut]

Actually those who have invested in Jakarta would have made more money in the past few years as compared to London HK or new york.

Brudder, indo can only invest thru proxy. As of now, they don't allow direct foreign ownership. I waiting for the new regulation then enter leh....

[DKSG]

Brudder, indo can only invest thru proxy. As of now, they don't allow direct foreign ownership. I waiting for the new regulation then enter leh....

Yoz Nutnut!

I totally agree with you that only the wannabe rich invest in Jakarta/Philipines.

Ringgo : Do you know how many quite rich indons are dying to buy up everything in D9 here ? (if they got the money and government allow them to). Do you know how many Filipinos will just give up their Philipine citizenship and take up Sg's ? Millions ar !

If you have been to the showflats you will notice the number of Filips trying their best to buy their first unit here - many many.

And, in the showflat u will also realise, more and more people are paying the ABSD without batting and eyelid !

Watch out for Mar sales ... going to be 3 times of Feb sales !

DKSG

[Ringo33]

Brudder, indo can only invest thru proxy. As of now, they don't allow direct foreign ownership. I waiting for the new regulation then enter leh....

Perhaps the indo living in singapore are doing that.

[Ringo33]

Yoz Nutnut!

I totally agree with you that only the wannabe rich invest in Jakarta/Philipines.

Ringgo : Do you know how many quite rich indons are dying to buy up everything in D9 here ? (if they got the money and government allow them to). Do you know how many Filipinos will just give up their Philipine citizenship and take up Sg's ? Millions ar !

If you have been to the showflats you will notice the number of Filips trying their best to buy their first unit here - many many.

And, in the showflat u will also realise, more and more people are paying the ABSD without batting and eyelid !

Watch out for Mar sales ... going to be 3 times of Feb sales !

DKSG

Jarkarta/Philippines property is for short term gain, while Singapore property are more for long term and wealth preservation.

Even Singapore Redas guys are making road trip into Jakarta now.

[kane]

Yoz Nutnut!

I totally agree with you that only the wannabe rich invest in Jakarta/Philipines.

Ringgo : Do you know how many quite rich indons are dying to buy up everything in D9 here ? (if they got the money and government allow them to). Do you know how many Filipinos will just give up their Philipine citizenship and take up Sg's ? Millions ar !

If you have been to the showflats you will notice the number of Filips trying their best to buy their first unit here - many many.

And, in the showflat u will also realise, more and more people are paying the ABSD without batting and eyelid !

Watch out for Mar sales ... going to be 3 times of Feb sales !

DKSG

And there was an article that the landbank of singapore developers are at their lows... if they release many many plots simultaneously, it's probably going to turn out as low hanging fruits for them to replenish their landbank.

[august]

Yoz Nutnut!

I totally agree with you that only the wannabe rich invest in Jakarta/Philipines.

Ringgo : Do you know how many quite rich indons are dying to buy up everything in D9 here ? (if they got the money and government allow them to). Do you know how many Filipinos will just give up their Philipine citizenship and take up Sg's ? Millions ar !

If you have been to the showflats you will notice the number of Filips trying their best to buy their first unit here - many many.

And, in the showflat u will also realise, more and more people are paying the ABSD without batting and eyelid !

Watch out for Mar sales ... going to be 3 times of Feb sales !

DKSG

haha aiya dun say like that mah.
different budget go for different segments mah..

[DKSG]

haha aiya dun say like that mah.
different budget go for different segments mah..

Differernt risk appetite ?
Maybe lor !

DKSG

[bargain hunter]

DUCHESS RESIDENCES

BOUGHT 2007-07-19 2200PSF 2314 SQ FT
SOLD 2013-03-08 1772PSF

BEFORE ADDING AGENT'S COMMISSION LOSS: > $1.1M

[DKSG]

DUCHESS RESIDENCES

BOUGHT 2007-07-19 2200PSF 2314 SQ FT
SOLD 2013-03-08 1772PSF

BEFORE ADDING AGENT'S COMMISSION LOSS: > $1.1M

Is there anyway we can be alerted to these deals ?
I am sure there are people here willing to pay $1788 psf!

DKSG

[lifeline]

Is there anyway we can be alerted to these deals ?
I am sure there are people here willing to pay $1788 psf!

DKSG

can this be due to decoupling instead ?

[Ringo33]

Another Sentosa Cove transaction

8245sqft
$14,600,000
$1772psf

Does anyone know if this unit is 135 Cove Drive.

[bargain hunter]

not for duchess lah. i dun feel paying 4m for it is a good deal leh, do u?

i'm sure it was on sale in pptyguru for quite awhile before it got sold.

1800psf is about fair value only. 2200psf was during the craze in 2007 when on the same day when there are pple who also bought at 1800psf just a few hours ago and just the day before, wee cho yaw and family buys at 1500psf and his friends buy at 1600 to 1700psf. i m not sure how UOL managed to get pple to pay >20% more within the same day hahaha. had discussed this with bro amk extensively before (forgot which thread liao).

Is there anyway we can be alerted to these deals ?
I am sure there are people here willing to pay $1788 psf!

DKSG

[DKSG]

not for duchess lah. i dun feel paying 4m for it is a good deal leh, do u?

i'm sure it was on sale in pptyguru for quite awhile before it got sold.

1800psf is about fair value only. 2200psf was during the craze in 2007 when on the same day when there are pple who also bought at 1800psf just a few hours ago and just the day before, wee cho yaw and family buys at 1500psf and his friends buy at 1600 to 1700psf. i m not sure how UOL managed to get pple to pay >20% more within the same day hahaha. had discussed this with bro amk extensively before (forgot which thread liao).

Actually I meant deals like this type which is xx% below valuation or last done. I just did a check, 1722 is indeed not a die die must buy price.

DKSG

[bargain hunter]

a bit tough. too many connected pple who will get premium access through or themselves are agents.

Actually I meant deals like this type which is xx% below valuation or last done. I just did a check, 1722 is indeed not a die die must buy price.

DKSG

[starrynight]

It is 65 Cove Drive

Another Sentosa Cove transaction

8245sqft
$14,600,000
$1772psf

Does anyone know if this unit is 135 Cove Drive.