Looks like CM7 is like the mother of all CMs. How do you think the property counters will react tomorrow?
a) - 0-5%
b) - 5-10%
c) - 10-15%
d) - >15%
Senior
Looks like CM7 is like the mother of all CMs. How do you think the property counters will react tomorrow?
a) - 0-5%
b) - 5-10%
c) - 10-15%
d) - >15%
Junior
i think a profit taking is long overdue and this will be an excuse, ball part 10% average...
Originally Posted by Ringo33
Senior
I will go with b.
Senior
Actually several property counters was already coming down on Friday. I wonder whyi think a profit taking is long overdue and this will be an excuse, ball part 10% average...
Junior
about 10% drop.
More importantly, property stocks will be turning south from tomorrow.
For the physical property market, we are still in deny stage.
Senior
I think speculators and foreign investors will be taking cue from tomorrow's blood bath. Its going to bad I think.
I wonder how will Wheelock response to SC Global privatization offer now. Honestly with 15% ABSD, luxury condo like marq hilltop etc will be 6 feet under.
Senior
i don't think the impact to nav will be great if they have to sell all the remaining units at marq at cost.
Senior
if they go down that road, the entire SC global reputation will go down the drain. Earlier owner will sue SC for refunds.
Junior
I count 3%
Newbie
Any idea which developers still have significant unsold land banks?
I suspect SC global's $1.80 offer might provide some buffer against short sellers for wing tai and Ho bee.
Smaller developers might see 5-8% drop while the bigger developers 3-5% drop.
Senior
wheelock seems content to "give up" on the sc global privatization liao. they now have 17.933%, SC has 66.096% and free float is left with 15.971%. share price back at 1.80 will help to accelerate the acceptance. chances are high now that SC Global will be suspended when the free float falls below 10%, just 5.971% to go. after that, wheelock and a bunch of minority shareholders will have to negotiate with SC to sell to him, hopefully at a higher price.
Senior
Exactly. So it is unlikely that Wheelock will change their POV on SC Global.
Senior
Banks n property counter take a beating.
东方
Why no + ?
It appears it may actually be pro developers (listed ones) lol
Everytime a CM is announced, more fear of MTB created, this big one may just push many over the edge to commit now before the ultimate death star (to quote bro ghost) strikes.
Senior
most developers down in the region of 5 to 10%.
SC global trading halted?
Newbie
S'pore property stocks plunge on new cooling measures
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Shares of CapitaLand Ltd fell 5.9 per cent, City Developments Ltd sank 7.3 per cent and Keppel Land Ltd dropped 7.5 per cent. The Straits Times Index was 0.8 per cent lower - PHOTO: SPH
SINGAPORE - Shares of Singapore property developers dropped on Monday after the city-state's government introduced sweeping measures to cool the housing market, which has seen strong demand despite a weak economy and previous efforts to curb prices.
Shares of CapitaLand Ltd fell 5.9 per cent, City Developments Ltd sank 7.3 per cent and Keppel Land Ltd dropped 7.5 per cent. The Straits Times Index was 0.8 per cent lower.
Foreigners and companies buying residential property will now be subject to a stamp duty of 15 per cent of the purchase price, up from the previous 10 per cent.
Singapore also introduced, for the first time, a seller's stamp duty of 5 to 15 per cent on those who buy and then sell industrial properties such as warehouses and factories within three years.
"We think the reaction to this set of comprehensive measures will be the most significant thus far, relative to the earlier six rounds," Barclays said in a report.
"Coupled with the large supply pipeline of public and private housing over the next few years, we think property prices will very likely stabilise, if not fall, this year." OCBC Investment Research cautioned against buying property stocks on weakness as the latest set of cooling measures would likely have a deep and sustained impact on demand fundamentals.
"These curbs point to a strong political will to soften property prices and possibly more aggressive measures ahead," it added. - REUTERS
Senior
no halt but at 1.80, chances of acceptance of SC's offer is now very high.
Senior
Didnt some US hedge fund just about 5% of SC Global shares last week?
Senior
only 5%+ more of acceptance by the free float is required for sc global to be suspended for a long time but not delisted (unless wheelock agrees). in that scenario, wheelock 18, minority around 10, SC 72%. then its up to SC to negotiate with the rest months down the road.
Junior
FTSE ST Real Estate809.30795.76-13.54
down : 1.67% now
Newbie
SINGAPORE - Shares of major property developers in Singapore were battered Monday after the government introduced new measures at the weekend to cool the real estate market.
By the closing bell, shares of top developers listed on the Singapore Exchange had sunk more than four percent as investors spooked by the measures dumped the stocks.
CapitaLand closed 4.11 percent lower at S$3.73, City Developments fell 7.54 percent to S$11.65 and Keppel Land slumped 7.24 percent to S$3.97.
"We're seeing a knee-jerk reaction to the cooling measures," said Jason Hughes, head of premium client management for IG Markets Singapore.
The new measures, which came into force Saturday, included sharply higher duties on property purchases by foreigners.
Singaporeans' minimum cash downpayments for second or subsequent homes were raised from 10 to 25 percent of a property's value.
But Hughes predicted property stocks would be able to ride out the storm thanks to their overseas portfolios.
"We do have to consider that a number of these guys are regionally focused," he said, adding that the effect would have been more severe if they had been purely local developers.
HSBC Global Research said in a report that Singapore may institute more cooling measures because property demand is expected to remain robust.
"Low interest rates and an expected economic recovery this year will support demand. Further steps can, therefore, not be ruled out," the report said.
The measures were imposed after home prices continued to rise even as the city-state suffered an economic slowdown. It narrowly avoided a technical recession in the last quarter of 2012.
The economy grew just 1.2 percent in 2012, compared with 4.9 percent in 2011. Expansion this year is forecast at 1.0-3.0 percent.
- AFP/ir
Junior
Actually most pty counters closed way above their intraday lows. For example CAPL opens at 8% lower, closing time recovered half
Senior
yeah, the sell off seem to only last the first 15mins. no repeat selldown in the afternoon.
the selloff seems kinda modest imo.
Senior
don't speak too soon guys.
Junior
Hey I asked Stalingrad to buy CAPL at 2.8 last year. It's still a LONG way to godon't speak too soon guys.
Senior
oh yeah, where has he gone?
i m just wondering if the bull run for ppty developers has just ended prematurely.
Hey I asked Stalingrad to buy CAPL at 2.8 last year. It's still a LONG way to go
Junior
Wing Tai was down 10% intraday,..
So high end property is expected to be hurt the most.
Senior
just describing today's price action. which normally has some tell tale signs.don't speak too soon guys.
Junior
Why Hong Kong Land ended higher?
Office Buildings are not affected by this CM?
Senior
wing tai volume light. easy to get sell down big.
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