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Thread: Capitaland building MM?

  1. #1
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    Default Capitaland building MM?

    Taken from BT.

    Different market segment = Mickey Mouse apartment?

    ........Referring to Sky Habitat, CapitaLand Residential Singapore CEO Wong Heang Fine said: "We are doing selective unit discounts - but not on a mass basis."


    BT understands that CapitaLand is testing the market with a selected 100 units at Sky Habitat for release at below $1,500 per square foot. Prior to this, the project had been selling at around $1,600 psf on average.
    A CapitaLand Singapore spokesman said: "We streamlined our promotion scheme two weeks ago. Selected units are marketed at a range of prices - such promotions are not new. As this is an ongoing promotion, we are monitoring the response."................


    .........In Singapore, CapitaLand will be launching in the current half another condo, next to Sky Habitat, which Mr Wong said would "be targeted at a different market sector". The group also plans to release its Marine Point project.....
    "Never argue with an idiot, or he will drag you down to his level and beat you with experience."

  2. #2
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    Quote Originally Posted by Ringo33
    Taken from BT.

    Different market segment = Mickey Mouse apartment?
    That would be "inhuman" in their own words.

  3. #3
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    Quote Originally Posted by Ringo33
    Taken from BT.

    Different market segment = Mickey Mouse apartment?
    Wah lau eh, . Like that also can. Slow news day ah?

    Spoken by their ex-ceo leh,Sensationalised by the reporters, Slaughtered by you!

  4. #4
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    this does not look good
    thanks for the highlight, Ringo
    LEDANG HEIGHTS, THE FUTURE GOOD CLASS BUNGALOW CENTRAL OF NUSAJAYA/ISKANDAR

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    CapitaLand Ltd. (CAPL), Singapore’s biggest developer, may alter the size of its apartments as it seeks to improve affordability to combat government measures aimed at curbing speculation and lowering prices.
    The developer sold 139 residential units in the island-state in the three months ended June, 31 percent fewer than in the same period last year, it said yesterday as it forecast “headwinds” in the near term with the housing curbs.
    Enlarge image CapitaLand to Alter Home Sizes to Tackle Curbs: Southeast Asia
    Condominiums and houses, foreground, and public housing blocks, middle ground, stand against the skyline of the Central Business District in Singapore. Photographer: Sam Kang Li/Bloomberg
    After adding taxes on home sales and mortgage limits, the city’s central bank last month capped property loan repayments at 60 percent of salaries, which the developer cited as an additional measure on home sales. Prices and sales of Singapore residential properties are expected to moderate because of the housing curbs, the company said.
    “We are now looking at how we can respond to the current market situation,” Lim Ming Yan, president and chief executive officer at CapitaLand, said in a Bloomberg Television interview in Singapore yesterday. “We want the right sizing, put in the right layout, so our users will find it a lot more user-friendly and at the same time something they can afford. This is the direction we’re moving towards.”
    Lim, who took the helm at the start of the year, didn’t elaborate on details for the change in apartment sizes.
    Singapore home prices climbed to a record in the second quarter as gains in suburban housing values accelerated, leading to new government measures on property loans in June.
    Housing Bubble
    The price increases amid low interest rates raised concerns of a housing bubble and prompted the government to widen a four-year campaign in January to curb speculation in Asia’s second-most expensive housing market. In January, the government increased stamp duties for homebuyers by 5 percentage points to 7 percentage points.
    CapitaLand will start selling two projects in the second half of the year including Marine Point and its second condominium project in the central suburb of Bishan comprising 694 units, the developer said.
    The plans for the new project in Bishan show that it will construct apartments with an average size of between 800 square feet and 900 square feet, based on the number of units planned, according to Tricia Song, an analyst at Barclays Plc in Singapore. For previous developments, the average size was between 1,200 square and 1,600 square feet, she said.
    “The fact that they are similar plots and that they are planning about 40 percent more units means they are thinking of downsizing units,” she said. “It will make it more affordable and this is the trend of Singapore residential sales as we see it.”
    Shoebox Apartments
    Singapore decided to regulate the sale of smaller-sized residential units after developers sold a record number of so-called shoebox apartments last year. Shoebox apartments are those smaller than 50 square meters (538 square feet).
    Singapore is the most-expensive residential market after Hong Kong, according to a Knight Frank LLP and Citi Private Bank report released last year that compared 63 locations globally.
    The central bank estimates that between 5 percent and 10 percent of borrowers have probably over-leveraged on their property purchases with total debt service payment at more than 60 percent of their income, Monetary Authority of Singapore Managing Director Ravi Menon said on July 23. Low interest rates, growing leverage, and surging property prices pose significant risks to financial stability, he said.
    Shares of CapitaLand, also the biggest developer in Southeast Asia, has fallen 10 percent in the past three months, compared with the 8.5 percent decline in the measure tracking Singapore property stocks, as well as the Bloomberg Asia Pacific Real Estate Index.
    “These are policies that will have an impact on transactions,” Lim said, adding that “on the whole, the market has more or less digested the measures.”
    To contact the reporter on this story: Pooja Thakur in Singapore at [email protected]
    To contact the editor responsible for this story: Andreea Papuc at [email protected]

  6. #6
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    Old ceo inflexible thus asked to balik kampung la.... New ceo open to 'new paradigms'.
    click: 🏢shoeboxmickeymousehouse 🏢

  7. #7
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    Those early birds who bought Sky Habitat will be upset. From $1600psf to now $1400psf. d'Leedon like that, Sky Habitat also like that.

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    Quote Originally Posted by Wild Falcon
    Those early birds who bought Sky Habitat will be upset. From $1600psf to now $1400psf. d'Leedon like that, Sky Habitat also like that.
    Not to forget about Interlace too!

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    new CEO loves shoeboxes? lol

  10. #10
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    So Govt cooling measures has made Capitaland to build MM which is inhumane to live in (in their ex-CEO words)? Mmm, food for thought............


    Quote Originally Posted by vboy
    CapitaLand Ltd. (CAPL), Singapore’s biggest developer, may alter the size of its apartments as it seeks to improve affordability to combat government measures aimed at curbing speculation and lowering prices.
    The developer sold 139 residential units in the island-state in the three months ended June, 31 percent fewer than in the same period last year, it said yesterday as it forecast “headwinds” in the near term with the housing curbs.
    Enlarge image CapitaLand to Alter Home Sizes to Tackle Curbs: Southeast Asia
    Condominiums and houses, foreground, and public housing blocks, middle ground, stand against the skyline of the Central Business District in Singapore. Photographer: Sam Kang Li/Bloomberg
    After adding taxes on home sales and mortgage limits, the city’s central bank last month capped property loan repayments at 60 percent of salaries, which the developer cited as an additional measure on home sales. Prices and sales of Singapore residential properties are expected to moderate because of the housing curbs, the company said.
    “We are now looking at how we can respond to the current market situation,” Lim Ming Yan, president and chief executive officer at CapitaLand, said in a Bloomberg Television interview in Singapore yesterday. “We want the right sizing, put in the right layout, so our users will find it a lot more user-friendly and at the same time something they can afford. This is the direction we’re moving towards.”
    Lim, who took the helm at the start of the year, didn’t elaborate on details for the change in apartment sizes.
    Singapore home prices climbed to a record in the second quarter as gains in suburban housing values accelerated, leading to new government measures on property loans in June.
    Housing Bubble
    The price increases amid low interest rates raised concerns of a housing bubble and prompted the government to widen a four-year campaign in January to curb speculation in Asia’s second-most expensive housing market. In January, the government increased stamp duties for homebuyers by 5 percentage points to 7 percentage points.
    CapitaLand will start selling two projects in the second half of the year including Marine Point and its second condominium project in the central suburb of Bishan comprising 694 units, the developer said.
    The plans for the new project in Bishan show that it will construct apartments with an average size of between 800 square feet and 900 square feet, based on the number of units planned, according to Tricia Song, an analyst at Barclays Plc in Singapore. For previous developments, the average size was between 1,200 square and 1,600 square feet, she said.
    “The fact that they are similar plots and that they are planning about 40 percent more units means they are thinking of downsizing units,” she said. “It will make it more affordable and this is the trend of Singapore residential sales as we see it.”
    Shoebox Apartments
    Singapore decided to regulate the sale of smaller-sized residential units after developers sold a record number of so-called shoebox apartments last year. Shoebox apartments are those smaller than 50 square meters (538 square feet).
    Singapore is the most-expensive residential market after Hong Kong, according to a Knight Frank LLP and Citi Private Bank report released last year that compared 63 locations globally.
    The central bank estimates that between 5 percent and 10 percent of borrowers have probably over-leveraged on their property purchases with total debt service payment at more than 60 percent of their income, Monetary Authority of Singapore Managing Director Ravi Menon said on July 23. Low interest rates, growing leverage, and surging property prices pose significant risks to financial stability, he said.
    Shares of CapitaLand, also the biggest developer in Southeast Asia, has fallen 10 percent in the past three months, compared with the 8.5 percent decline in the measure tracking Singapore property stocks, as well as the Bloomberg Asia Pacific Real Estate Index.
    “These are policies that will have an impact on transactions,” Lim said, adding that “on the whole, the market has more or less digested the measures.”
    To contact the reporter on this story: Pooja Thakur in Singapore at [email protected]
    To contact the editor responsible for this story: Andreea Papuc at [email protected]

  11. #11
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    Who will not build MM nowadays?

    If they don't build 350 sq ft studio, they will build 550 sq ft 2 bedroom or 750 sq ft 3 bedroom. Or 1000 sqft penthouse.

  12. #12
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    Quote Originally Posted by thomastansb
    Who will not build MM nowadays?

    If they don't build 350 sq ft studio, they will build 550 sq ft 2 bedroom or 750 sq ft 3 bedroom. Or 1000 sqft penthouse.
    In areas like Orchard, building MM is ok as when tenants compare MM to MM, they still choose MM.

    But in OCR areas, when tenants get to choose a 550 sqft studio vs a 388 studio, the choice is very obvious. So, when buying MM in OCRs have to be discreet and understand the dynamics of the area.

    Eg, if you buy a MM in Bishan, you better make sure Sky Habitat II and SH III, SH IV all got MMs for tenants to choose from. If some developers sabo you and create the only MM in the area, you will have a problem next time.

    In summary, just pretend that you are a tenant look for a place to stay, then you will understand what are the choices and decisions they will make.

    DKSG

  13. #13
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    Quote Originally Posted by DKSG
    In areas like Orchard, building MM is ok as when tenants compare MM to MM, they still choose MM.

    But in OCR areas, when tenants get to choose a 550 sqft studio vs a 388 studio, the choice is very obvious. So, when buying MM in OCRs have to be discreet and understand the dynamics of the area.

    Eg, if you buy a MM in Bishan, you better make sure Sky Habitat II and SH III, SH IV all got MMs for tenants to choose from. If some developers sabo you and create the only MM in the area, you will have a problem next time.

    In summary, just pretend that you are a tenant look for a place to stay, then you will understand what are the choices and decisions they will make.

    DKSG
    do not quite understand. If specific areas in CCR have tonnes of MMs, won't this be very competitive in a downturn? whereas if one owns the only MM project in the OCR region, won't this be an advantage since there will be no competitors?

  14. #14
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    Quote Originally Posted by Singleton
    do not quite understand. If specific areas in CCR have tonnes of MMs, won't this be very competitive in a downturn? whereas if one owns the only MM project in the OCR region, won't this be an advantage since there will be no competitors?
    This is the keyboard version of analysis.

    If you pretend to be a tenant, you will know what I mean.

    You go see 5 units asking for $3,500, their sizes are : 650 (5 years old), 550 (3 years old), 600 (4 years old), 500 (2 years old), 388 (1 year old) all units are decent environment. Which one will u choose ?

    Versus you go see 5 units asking for $3,500, all 388 sqft, u have to choose the 388 sqft.

    DKSG

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