2013 PC + 256 EC = 2269 new homes sold in Jan 2013

[bargain hunter]

oops, correction. for d'leedon 786 sq ft 2 bedders have been sold at 2083 and 2055psf before in 2011. so this 2004psf unit could be a similar one

add:
the cape also sold 5 at 2114psf median, high 2192psf.
d'leedon's 2004psf is a new record (I assume its for a 635 sq ft 1+study?). even before cooling measures, no such price. must be for the highest floor bestest of the bestest 1 bedder in comparison, the low is 1243psf and that's for a regular 3 bedder! the range is too crazy.

[ichigo55]

I really wonder what will govt do? Continue to maintain our currency against such currencies? There's no way our economy can continue to absorb more influx unless we are prepared to accept super high inflation ... Either way there's only one way to position yourself

[ecimbew]

2013 PC + 256 EC = 2269 new homes sold in Jan 2013

2013 PC in Jan 2013
Coincidence? Or 1st prize number?

[indomie]

You will be surprise that the sales number will not drastically go down in the coming months or years. Sg has become millioners playground. Sg gov has shifted its focus from export oriented into wealth management. Look around us, all the high end infrastructures that is over the top. In the past we set up factories and manufacturing to make the people wealthy and contribute to the taxation. However we can't compete with other nation, especially china on export. A better idea would be to let the millioners to come here and park their money here. Why bother with the hard work of making money, when we can get the instant end result. U will see more international schools, more world class entertainments in years to come.

[yjcai]

Permanent CM liao. When every middle class HDB owner say i just bought 1x condo for retirement. I see CM7 too up. I should have listened to dtrax. Importing to 7 million is inevitable I guess.

[sh]

Village @ Pasir Panjang also not doing as well as the smaller seasuites, any reason?

Seasuites next to MRT, small quantum
Village far from MRT, large quantum....

Simple....

[danguard]

Permanent CM liao. When every middle class HDB owner say i just bought 1x condo for retirement. I see CM7 too up. I should have listened to dtrax. Importing to 7 million is inevitable I guess.

so long as low interest rates regime persists i think inevitable ma ... everyone wants to upgrade as one of the goals in life mah

[hyenergix]

Amazing sales in Jan, reflecting the high demand for properties. The question is where will the future demand from Feb onward be channeled to? You can make the smart guess.

Rush to beat curbs propels home sales
Excluding ECs, 2,013 deals are struck in January - the highest in 4 months; buyers also attracted by developers' discounts and rebates in the wake of cooling measures
BY MINDY TAN
PUBLISHED FEBRUARY 16, 2013

PRIVATE-HOME sales surged 42.8 per cent in January from the month before, as developers dished out discounts and rebates to entice buyers in the wake of the seventh round of cooling measures.

Excluding executive condominiums (ECs), a total of 2,013 transactions were clocked in in January, up from 1,410 in December. This was the highest in four months, and exceeded the 1,799 units launched by developers.

The surge in sales was powered by strong take-up in the first 11 days of the month (prior to the announcement of cooling measures), and subsequent aggressive marketing in the form of price discounts and rebates to buyers and/or higher incentives to agents to encourage sales, said SLP International research head Nicholas Mak.

Buyers who rushed to lock in their purchases before the cooling measures on Jan 11 - which included higher additional buyers' stamp duty (ABSD) as well as stricter borrowing limits - kicked in, helped drive sales.

Said Mohamed Ismail, chief executive of PropNex Realty: "We believe there was a sudden surge in the demand for private homes especially on the day of the announcement."

EL Development's La Fiesta, one of many showflats that stayed open late, saw snaking queues on Jan 11, as potential buyers tried to beat the midnight deadline. The project, located in Sengkang, recorded 404 transactions in January.

"(EL Development) had earlier shared that it had sold 360 units in the project before Jan 12. . . So by deduction, it probably sold about 44 units after Jan 12," said a market watcher.

According to the Urban Redevelopment Authority (URA), about 60 per cent of the units (excluding ECs) sold by developers were sold before Jan 12 while the remaining 40 per cent were sold from Jan 12.

January's sales were also buoyed by attractive incentives offered by developers, noted Joseph Tan, CBRE's executive director, residential.
Q Bay Residences (372 sales), for instance, offered stamp duty discounts of 5 per cent to 7 per cent, while D'Leedon Residences (263 sales) offered discounts of up to 15 per cent. Of this, 163 units at D'Leedon were moved from Jan 12.

Mass-market suburban regions (Outside Central Region) contributed 63.9 per cent of total sales (1,287 transactions), a marked increase compared to the 44 per cent recorded a month earlier. The Core Central Region and Rest of Central region made up 17.4 per cent (350 sales) and 18.7 per cent (376 sales) of January sales, respectively.

Ong Teck Hui, national director, research & consultancy, Jones Lang LaSalle, said: "While 2,013 units sold in January is a healthy figure, it is still way below the robust figures of 2,393 to 2,621 units achieved for four months in 2012.
"The market experience in January tells us that while cooling measures remain in place, projects with attractive locations and realistic pricing will still be able to draw buyers and achieve good take-up rates."

Alice Tan, senior manager, consultancy and research, at Knight Frank, concurred, noting that the price quantum remained a key consideration for home buyers.

"Smaller-sized homes with affordable price points at good locations would see higher demand. Developers who are launching projects after the Chinese New Year festive season are likely to unveil enhanced design and price offerings to entice buyers," she said.

Sales of EC units dropped 69.8 per cent to 256 units. Including ECs, a total of 2,269 residential units were sold in January, on a par with the 2,259 units sold a month ago.

Consultants expect slower sales in February, in the light of the usually quiet Chinese New Year, even though a handful of developers had opened their showflats over the festive season.

Lee Sze Teck, senior manager, training, research and consultancy, at DWG, said barring any major project launches, he expected transaction volume to be low, at around 1,000 units.

Ong Kah Seng, director at R'ST Research, said that given that January's numbers are a confluence of rebates, attractive pricing and ample new launches, such "robust buying is expected to be short-lived".

He expects sales volumes to moderate to about 1,500-1,800 transactions per month on average in the first half of 2013. "There is a limit on further discounts, rebates and incentives developers are willing to give," he said.

The focus will be on Sennett Residences and Urban Vistas for February, said Alan Cheong, Savills Singapore's head of research.

"A successful take-up of these projects at prices in the $1,500-$1,600 psf range would send a clear message to legions of naysayers that property prices are not coming down and demand is still firm, at the 1,500 unit level.

"The recent passage of the Population White Paper plus the release of the Land Use plan is sending a subliminal message to the public to act given that the future looks bright for residential properties. With liquidity aplenty and price expectations still positive, the power drivers for private residential properties are stronger than the retarding factors."

http://www.businesstimes.com.sg/prem...sales-20130216

[bargain hunter]

PUBLISHED FEBRUARY 16, 2013
Developers anxious about cooling measures
But they understand govt's push for soft landing of property market, says new Redas head, and support the population roadmap

THE new head of the Real Estate Developers' Association of Singapore (Redas) says developers here are "naturally anxious" about the latest round of cooling measures, but they understand the government's push for "a soft landing of the property market" and will thus support the population roadmap set out for 2020 and beyond to 2030.

Chia Boon Kuah, in his maiden speech since being elected to the post this month, noted yesterday that real estate is a cyclical business, buffeted by global economic performance, geopolitical developments and domestic market conditions.

And with property players here facing added challenges from limited land and high development costs, they are, he said, "naturally anxious" about the cooling measures implemented amid a maturing property cycle and global uncertainties.

He was speaking at Redas's annual Spring Festival lunch, at which Foreign Affairs and Law Minister K Shanmugam was the guest of honour.
Mr Chia, also the chief operating officer for property sales at Far East Organization, described the real estate industry as part of the diverse ecosystem that is Singapore's economy, and one which provides jobs and properties to families and businesses and generates dividends for unitholders in real estate investment trusts (Reits).

"As a major stakeholder in the wellbeing of our ecosystem, Redas acknowledges the government's desire to achieve a soft landing of the property market."

He said Redas would build on its role as a partner of the government to add value to national development; it will also plan for business interests to align with national objectives.

Describing the Population White Paper for Singapore up to 2030 as bold and wide-ranging, Mr Chia said: "It is a vision to ensure a good quality of life in a dynamic city with future infrastructure to accommodate an enlarged population of 6.9 million, if necessary.

"Redas stands ready to support the execution of this important blueprint."
It will, for example, set up Redas Foundation, a non-profit body to "coalesce the efforts and resources" of its members to improve the lives, living environment and the future of communities here, Mr Chia disclosed.

Redas will carry on its ongoing Redas Conversation, which runs parallel to the National Conversation; it will also continue engaging tertiary institutions and professional bodies to promote urban solutions, with a key focus on providing more elderly-friendly designs and amenities.

Speaking on the sidelines of the event, Lim Ee Seng, the second vice-president of Redas and Frasers Centrepoint chief executive, said he foresees prices stabilising the rest of this year, as buyers become more cautious. Transaction volumes could stay at about the same as last year, he added.
Wong Heang Fine, the immediate past president of Redas and chief executive of CapitaLand Residential Singapore, said it's too early to tell whether the cooling measures are working, going by the latest private home sales figures.
The Urban Redevelopment Authority (URA) said yesterday that 2,013 private residential units, excluding executive condominiums, were sold last month; this was 7.5 per cent higher than a year ago.

Mr Wong said: "Basically, the measures came in only on Jan 11. So you've got to wait a few months for them to kick in."

[indomie]

It won't be long before sg property is considered cheap by your south east asia neighbours. The latest release of shop houses in jakarta with a staggering price tag of 37 billion rupiah (4.6 million SGD).

[ichigo55]

wow ... SG is cheap by any standards ...
but do not forget Indo has the masses to support such booming economy ...we are still far behind ...

It won't be long before sg property is considered cheap by your south east asia neighbours. The latest release of shop houses in jakarta with a staggering price tag of 37 billion rupiah (4.6 million SGD).

[kane]

Is commcercial shophouse rental yield very good in jakarta?

[indomie]

Is commcercial shophouse rental yield very good in jakarta?

2-3%, not so good. But people buying for the capital appreciation. The prices have been going up to the level of insanity. In a small way, this is what could happens if sg has no CM. There are just so much money around.

[phantom_opera]

Unless gold prices crash otherwise I dun see any correction for property

[kane]

2-3%, not so good. But people buying for the capital appreciation. The prices have been going up to the level of insanity. In a small way, this is what could happens if sg has no CM. There are just so much money around.

They playing musical chair at that kind of rental yield. Cos the cost of borrowing locally is much higher than that.

[NO_7]

not sure what u r referring to but if simply take total avail units minus total sold = 16,304. and this is only based on projects which have obtained approval to sell.

Already launched condo projects (non-landed) plus ECs, a total of close to 9700 units unsold in the market by end Jan 2013 URA lodge.
Going to launch soon are over 40 projects with 5000 units (non-landed).
Out of 228 launched condo projects, only 125 are active, meaning sold at least 1 unit in Jan 13.
And only 38 condo projects sold more then 10 units in Jan 13, out of these 38 projects 27 belongs to OCR.