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Thread: Home supply to see record surge

  1. #1
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    Default Home supply to see record surge

    http://www.straitstimes.com/archive/...surge-20121027

    Home supply to see record surge

    35,000 private units will be completed in next two years

    Published on Oct 27, 2012

    By Esther Teo, Property Reporter


    BEDOK and nearby areas will be at the epicentre of a record breaking surge in private home completions over the next two years, new analysis shows.

    This burst of construction is, in part, the fruit of recent government efforts to cool the red-hot property market with a bumper release of residential sites.

    More than 35,000 private non-landed homes are set to be completed in 2013 and 2014 alone, the National Development Ministry said in Parliament recently.

    This is far more than the 9,900 units completed in 2010 and the 11,700 homes built last year. Another 12,500 homes are slated for completion this year.

    The greatest number of these new homes will be built in an area known as the Bedok planning area, covering neighbourhoods such as Telok Kurau, Siglap, East Coast Road and Jalan Eunos.

    Almost 10 per cent of all non-landed homes - about 3,500 units - built in the two-year period will be in this eastern estate, analysis by property consultancy Colliers International showed.

    Examples of new projects in the area include Flamingo Valley, Vacanza@East, Suites@East Coast, The Sound and Waterfront Key.

    Colliers' director of research and advisory, Ms Chia Siew Chuin, said a majority of the upcoming projects in Bedok are built on redeveloped private land or collective sale sites.

    But while Bedok topped the table for both 2013 and 2014, thousands of homes to be built next year will be in other areas such as Geylang and Hougang. The Bukit Timah and Bukit Merah planning areas rank second and third for 2014.

    Ms Chia also flagged the Hougang planning area as one expected to see supply surge over the next two years. It ranks third next year and fourth in 2014.

    About 1,240 units - or 9.4 per cent - of the 13,231 non-landed private homes expected to be completed next year are in this north-east planning area. Hougang includes areas such as Upper Serangoon, Yio Chu Kang Road and the Kovan area.

    In 2014, the projected number is set to increase to 1,681 units. Its share of the year's total, however, is expected to decline to 7.6 per cent of the 22,042 homes that are slated to be built nationwide.

    Projects slated for completion next year include The Minton on the former Minton Rise site, Isuites@Palm on a former landed housing site, and 21 Richards on the former Richards Mansions site.

    Projects due to be completed in 2014 include Boathouse, Terrasse and Parc Vera. These three projects are built on land sold by the Government and boast a total of 1,359 units. They represent 81 per cent of the total expected completions of private non-landed homes in Hougang during the year.

    Experts note, however, that the expected completions are based on developers' declarations.

    The actual completion period may change according to developers' adjustments to their plans or construction schedules, according to market conditions, they add.

    International Property Advisor chief executive Ku Swee Yong said that while the Punggol and Sengkang areas do not feature strongly in the official completion figures over the next two years, supply is slated to surge in 2015 and beyond.

    "Some of these projects could also be completed ahead of schedule since they have seen strong take-up," he said. "Completions in 2013 and 2014 could total 40,000 units instead."

    "Prices of homes in the north-east are expected to stagnate but may not come down as low interest rates mean that buyers can still afford to hold... But we can expect the rental market to be very competitive."

    Punggol projects such as the 992-unit Watertown are expected to be completed in 2017 while 882-unit A Treasure Trove is slated for completion in November 2015.

    [email protected]

  2. #2
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    Looking on the surface, is it not to good to invest in the east for the next couple of years?

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    rental in the west should hold up well

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    Probably more releases in other areas as well. They need to keep citizens calm

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    Quote Originally Posted by 4wheels
    Looking on the surface, is it not to good to invest in the east for the next couple of years?
    Seems so. East and North-East. Investors should stay clear. Still can buy in West or Central. Or Johor.

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    Quote Originally Posted by Sleepyhead
    Seems so. East and North-East. Investors should stay clear. Still can buy in West or Central. Or Johor.
    I see NE as gem now. After guvment introduced Pungol vision. If materialised, the sheer volume of people there will be amazing. If you go Sengkang swimming complex on weekend, you have to queue 20 mins to wash up after the swim. So crowded. And many with kids. Mostly young ones. In years to come, NE will be shining even brighter.

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    Quote Originally Posted by cnud
    I see NE as gem now. After guvment introduced Pungol vision. If materialised, the sheer volume of people there will be amazing. If you go Sengkang swimming complex on weekend, you have to queue 20 mins to wash up after the swim. So crowded. And many with kids. Mostly young ones. In years to come, NE will be shining even brighter.
    i view it differently...for investment, steer clear of NE as there are too many units TOP in 2014 and beyond, not just private but also BTOs. And as for own stay, also steer clear because you will be cursing and swearing as even if you want to buy a cup of coffee will also need to queue long long...

    not enough amenities, too many people, infrastructure takes a while to build, road too narrow, not enough breathing space.

    sorry, just my opinion.

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    prepping for ERL to come up. justify ERL with no. of residence growing in the East.

    Will be good for people buying in the East. I think most of the units are in the upper east area and Telok kural area.

    Mayer side still relative little new projects.

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    It's actually strange to read this rpt about the Bedok planning area having lots of supply. I mean they classify TK, Siglap, Eunos and East Coast Road as Bedok???

    I thought they would at most include Bedok as an estate, TM area and Bedok Reservoir part, but TK, Eunos???

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    Quote Originally Posted by lajia
    i view it differently...for investment, steer clear of NE as there are too many units TOP in 2014 and beyond, not just private but also BTOs. And as for own stay, also steer clear because you will be cursing and swearing as even if you want to buy a cup of coffee will also need to queue long long...

    not enough amenities, too many people, infrastructure takes a while to build, road too narrow, not enough breathing space.

    sorry, just my opinion.
    For staying still ok as long as you are prepared for incoveniences for a few years while the amenities catch up but for investment / rental stay away.

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    Quote Originally Posted by nav14
    For staying still ok as long as you are prepared for incoveniences for a few years while the amenities catch up but for investment / rental stay away.
    I got a hunch that URA/MND/HDB is really pouring in a lot more amenities as the population shifts there with sooo many new PC projects completing in 2015-2018. By then, the those BTO upgraders will form the floor for the demand for PC there.

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    Quote Originally Posted by cnud
    I got a hunch that URA/MND/HDB is really pouring in a lot more amenities as the population shifts there with sooo many new PC projects completing in 2015-2018. By then, the those BTO upgraders will form the floor for the demand for PC there.
    by then then who is going to buy their BTO when the all upgrade?? price will drop when supply more than demand

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    Quote Originally Posted by lajia
    by then then who is going to buy their BTO when the all upgrade?? price will drop when supply more than demand
    Why you no trust guvment to bring in the population meh? Always harping on the TFR...

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    Quote Originally Posted by cnud
    Why you no trust guvment to bring in the population meh? Always harping on the TFR...
    I trust to a certain extent la, but don't think all are going to buy resale in NE rite?? What I mean is, it is a bit imbalance now that NE has so many new flats and so many resale after a few yrs later...no Offence...
    By the way what is TFR??

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    my 2...everywhere becoming so crowded soon people will look to ulu locations to buy house/apt.......like those outlying areas where birds dont lay eggs..

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    Quote Originally Posted by lajia
    I trust to a certain extent la, but don't think all are going to buy resale in NE rite?? What I mean is, it is a bit imbalance now that NE has so many new flats and so many resale after a few yrs later...no Offence...
    By the way what is TFR??
    no offence bro. Just share opinions.

    My view is that NE will be super crowded. Most of the buyers are for own stay as the one bedders did not move as fast as the bigger ones. Means mostly ar for own stay.

    Have you seen the Pungol vision?

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    Quote Originally Posted by cnud
    no offence bro. Just share opinions.

    My view is that NE will be super crowded. Most of the buyers are for own stay as the one bedders did not move as fast as the bigger ones. Means mostly ar for own stay.

    Have you seen the Pungol vision?
    No, what is punggol vision? Please share.

    What is TFR?

    Agree that NE super crowded. In the old days... Hougang was the end of Singapore. Literally! Nothing else beyond that. Only longkang and jungle...and some kampung houses with chickens running around.

    Now, Upper Serangoon Road is perpetually jammed! Everything and everywhere LONG queues! Try boarding the train at Hougang! Cannot get in during peak hours.

    With all the new flats and PC's coming TOPing..l. I dead to think what things will be like in another 2 years time. I will stay clear of that area for own stay. Investment wise... I'll also stay clear.. Too many to fight lar. I scared.

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    Have Read one or two bros here saying that as long as you drop the rent low enough someone will rent...

    That may be true for now... But with all the supply coming up.. And some say recession coming... And from the way the banks are firing rather than hiring.. Things may change... I have experienced personally a time where no matter how low still nobody wanted to rent... That was back in 2000 after the Asian crisis. Many flats remained empty. Many have forgotten.

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    U mean empty PC or HDB? A lot of difference le...

    Quote Originally Posted by Sleepyhead
    Have Read one or two bros here saying that as long as you drop the rent low enough someone will rent...

    That may be true for now... But with all the supply coming up.. And some say recession coming... And from the way the banks are firing rather than hiring.. Things may change... I have experienced personally a time where no matter how low still nobody wanted to rent... That was back in 2000 after the Asian crisis. Many flats remained empty. Many have forgotten.

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    Quote Originally Posted by lajia
    by then then who is going to buy their BTO when the all upgrade?? price will drop when supply more than demand
    Maybe when they upgrade they keep their hdb and rent out?

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    I am not vested in punggol. But I would like to add. Punggol21 was coined in 1996 by the govt in1996 and get to an abrupt halt because of 1997 crisis. But it is back and a lot has been done. It will develop into a mature estate eventually. One thing I learnt, what the govt wants, the govt gets.
    Can any of you tell me an idea that was coined and did not come true? This is for real. I really cannot think of any. So I treasure your input.

    But I do know those that came true.
    - marina barrage
    - pinnacle
    - marina bay
    - port shift
    - abc park

    So I really think punggol will be showcase area. I said I think. I did not say for sure. Because, a black swan may happen and things can get put on hold again.
    Life is never certain, but we need to play the % game.

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    punggol will be attractive to people living in NE, it will not attract people living from other area to move to punggol as there is still a lack of jobs and amenities around that area.

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    Quote Originally Posted by Ringo33
    punggol will be attractive to people living in NE, it will not attract people living from other area to move to punggol as there is still a lack of jobs and amenities around that area.
    Bro, I have colleagues that travel from kovan/Pasir Ris/yishun etc... to Jurong. Their traveling time is 1 hr and they have been w the coy for >10 yr. they take train.

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    Quote Originally Posted by chestnut
    Bro, I have colleagues that travel from kovan/Pasir Ris/yishun etc... to Jurong. Their traveling time is 1 hr and they have been w the coy for >10 yr. they take train.
    if you have been living there, of course your will live there because thats your kampong. What I am saying is that despite all the is happening in Punggol, people living in other more matured estates will not move there because of punggol vision as there is lack of jobs and amenities.

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    Quote Originally Posted by chestnut
    Bro, I have colleagues that travel from kovan/Pasir Ris/yishun etc... to Jurong. Their traveling time is 1 hr and they have been w the coy for >10 yr. they take train.
    That can mean a few things
    - the job in Jurong is paying well
    - the job in Jurong has high satisfaction
    - they can't find other job that Jurong is offerring
    - Jurong is offering a wide variety of jobs
    - they are afraid of change and thus stuck with the company for > 10 years, etc etc........

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    Quote Originally Posted by Ringo33
    if you have been living there, of course your will live there because thats your kampong. What I am saying is that despite all the is happening in Punggol, people living in other more matured estates will not move there because of punggol vision as there is lack of jobs and amenities.
    Bro, open your mind. I don't know how old are u, but check back old newspaper. Sengkang was in the doldrums after 1997. HDB had suplus stocks in Sengkang. At the end, what happened? Today, sengkang is quite hot.
    Do the newly weds have choices from HDB? Can u tell me which other estates are building HDB? Serious question. They ballot until sian, they will take up punggol. There are 25k marriages every year. If they want to go back to where they stayed, they most probably need to buy resale. I am not arguing. Just pointing out my observation. You can also point out your reasoning. I am open to accepting ideas. I may be wrong u know.

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    Quote Originally Posted by buttercarp
    That can mean a few things
    - the job in Jurong is paying well
    - the job in Jurong has high satisfaction
    - they can't find other job that Jurong is offerring
    - Jurong is offering a wide variety of jobs
    - they are afraid of change and thus stuck with the company for > 10 years, etc etc........
    Aiyah, why u never say they have a nice boss like me. Sian.

    Oops, I say colleague. My bad.

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    Common sense tells us that the sequence of tenant filling will be CCR -> RCR -> OCR -> HDB if size & rental almost the same right?

    Quote Originally Posted by Sleepyhead
    Have Read one or two bros here saying that as long as you drop the rent low enough someone will rent...

    That may be true for now... But with all the supply coming up.. And some say recession coming... And from the way the banks are firing rather than hiring.. Things may change... I have experienced personally a time where no matter how low still nobody wanted to rent... That was back in 2000 after the Asian crisis. Many flats remained empty. Many have forgotten.

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    Punggol is much more accessible with KPE now and a megamall coming. If I was a newly wedded couple, I would go for that location. Birds at least starting to lay some eggs there.

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    Quote Originally Posted by lajia
    U mean empty PC or HDB? A lot of difference le...
    Empty PC. Luckily can hold.

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