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Thread: Martin Place Residences (D9, Freehold, Frasers Centrepoint)

  1. #61
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    Quote Originally Posted by sufri
    There are 70000 millionaires in Singapore, what do u expexct?
    anyway, i see no big deal if students drive beemers to sch if their parents bought the cars for them. For those students who work for their money and earn the beemers, that i hold in high regard. My
    money is money. whether the bimmer is bought with own money or given to them, it is still a bimmer. a bimmer driven by a young person can be used for many untangible benefits. for example, getting laid, getting to know people of the same moneyed background, etc etc.

    make the fullest use of what life has to offer. use every advantage you were born with or was given to you. cos if you don't, then you are stupid. cos there are many more less fortunate who are willing to kill for the advantages that you have.

    your high regard or respect don't mean a thing. in this world (and you are deeply involved in it since you are in a condo discussion forum) money is power and makes the world go round. There is little importance placed on higher ideals like regard and respect.

    Nobody is going to give you a discount on a condo just because he or she respects that your money is self-made.

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    heh heh... well said...

    money from parents, grandparents... still smells the same


    Quote Originally Posted by Lord Anus
    money is money. whether the bimmer is bought with own money or given to them, it is still a bimmer. a bimmer driven by a young person can be used for many untangible benefits. for example, getting laid, getting to know people of the same moneyed background, etc etc.

    make the fullest use of what life has to offer. use every advantage you were born with or was given to you. cos if you don't, then you are stupid. cos there are many more less fortunate who are willing to kill for the advantages that you have.

    your high regard or respect don't mean a thing. in this world (and you are deeply involved in it since you are in a condo discussion forum) money is power and makes the world go round. There is little importance placed on higher ideals like regard and respect.

    Nobody is going to give you a discount on a condo just because he or she respects that your money is self-made.

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    Default Update pics on Martinplace

    Quote Originally Posted by pebbles
    Some pics of the site and its surroundings. High floor south facing units should have quite a view.
    Would you be able to post some update pics?

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    lord anus, harshly put but well said. those have-nots will be acting exactly like the haves, were they in a position to. life's like that, no need to pity the have-nots.

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    Foreigners back in private home market
    Foreign buyers are streaming back into the private homes market in growing numbers, especially those from China
    Joyce Teo
    The Straits Times
    Thursday, 5 November 2009


    New research from property consultancy Savills Singapore shows foreigners accounted for 22.7% of private home sales in the third quarter. -- Photo: Desmond Foo, ST

    Foreign buyers are streaming back into the private homes market in growing numbers, especially those from China.

    New research from property consultancy Savills Singapore shows foreigners accounted for 22.7% of private home sales in the third quarter – above the 19.7% average since the start of 2000.

    Buyers from China have dislodged those from India for the No. 3 spot in the rankings this year with a contribution of nearly 15% of total foreign purchases. This puts China just behind Indonesia in the second spot and Malaysia at No. 1.

    In the past two years, India had been in third spot, but it has slipped to fourth.

    Last year, buyers from China had moved up to the No. 4 spot, dislodging buyers from Britain.

    Buyers from Myanmar featured more strongly, coming in at No. 8. They did not make it to the top 10 last year, and were 10th in 2007.

    In the July to September period, foreign buyers – including permanent residents – lodged 2,448 private home caveats, a key step to buying a home.

    This is up from 1,807 caveats in the second quarter and just 498 in the first, according to data compiled by Savills.

    In all, permanent residents bought 1,389 homes in the third quarter.

    DTZ said its preliminary data for the third quarter showed that foreigners accounted for about 25% of total sales, compared with about 33% during the boom of 2007.

    The most popular project sought by foreigners was Sophia Residence, a project launched in July. Then came Caribbean at Keppel Bay, Ascentia Sky, One Devonshire and Viva.

    Permanent residents preferred Melville Park, a 99-year leasehold condominium in Simei, the recently launched Trevista, followed by Caribbean at Keppel Bay.

    About 54% of the purchases by China buyers were for resale homes, said DTZ head of South-east Asia research Chua Chor Hoon.

    Like Malaysian buyers, buyers from China tend to prefer homes priced between $500,000 and $1 million.

    One-fifth of them bought homes costing $1.5 million to as much as $5 million.

    Indonesians, however, tended to go for higher priced projects, particularly those priced $1.5 million to $5 million.

    They like properties located at Novena, River Valley and the Singapore River.

    They had been the biggest group of foreign buyers, taking first place from 2004 to 2007, only to lose the spot to Malaysia during the recent economic crisis, said Ms Christine Sun, Savills Singapore’s senior research & consultancy manager.

    The latest figures featured a substantial rise in the number of foreign transactions for higher-priced properties.

    A total of 86 properties priced above $5 million were sold in the quarter, up from 27 in the second and a mere six in the first.

    Also, there was a 60% rise in deals for projects costing between $1.5 million and $5 million. Demand from foreigners for mass market homes was little changed from the second quarter.

    Savills said recent data showed that foreigners who are not permanent residents tend to buy more pricey projects.

    This group was also more likely to buy homes in prime districts than permanent residents, said Ms Sun. ‘We are hearing that more of these super-rich mainland Chinese buyers have come in recent weeks to buy prime properties like the bungalows in Sentosa Cove.’

    But the big influx of foreigners to the luxury market in the 2006-2007 boom has not quite returned, consultants said.

    Still, support from regional buyers could rise further. Jones Lang LaSalle’s head of residential, Ms Jacqueline Wong, said the firm has had rising interest from new potential buyers from India, China and Russia in the past four months.

    ‘We are one of the places they are considering. They see Singapore as a safe haven,’ said Ms Wong.

    A senior private banker at a foreign bank said: ‘We are seeing some clients consider buying a Singapore property as one of a string of homes they have around the world. Luxury homes have come down 30% from the peak, so they are better value now.’

    DTZ’s Ms Chua said foreign buyers see the growing attraction of Singapore as a global city and expect prices to keep rising as the economy strengthens.

    ‘Prices of prime and luxurious units have not reached 2007 levels and there is still the potential of capital appreciation depending on the rate of economic recovery,’ she said.


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    Quote Originally Posted by bargain hunter, Parvis @ Holland Hill, 42 minutes ago
    31st floor at MPR 3.3m 10% premium vs 3m Parvis or close to 4m (or is it more?) for Trilight, I think the MPR one is still a good buy.
    Quote Originally Posted by moneyspinner, Parvis @ Holland Hill, 23 minutes ago
    What is the floor area and psf for the 31st floor at MPR? Is there deferred payment available or only progressive? How about the facing? Again how is this compared to VIVA?
    Quote Originally Posted by barain hunter, Parvis @ Holland Hill, 6 minutes ago
    based on the info provided by new2mondrain, #31-09 is available at 3.3m. It should be a 1894sq ft 4 bedder so that translates to 1742psf. (If new2mondrain has actual figures, even better ) I'm not sure this price is for deferred or normal.

    The drawback of this unit is that the shorter side of the living room faces west but most of the unit faces north. The view should be better than VIVA's but Urbana will be an eye sore north west of the unit.

    Location wise, MPR and VIVA have their own appeals.

    Funny that we are discussing MPR and VIVA on a Parvis thread, really don't give it any face.
    So ... it's 1,894 sqft.

    I think only NPS is available for MPR.

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    Quote Originally Posted by Reporter
    So ... it's 1,894 sqft.

    I think only NPS is available for MPR.
    wow. 27-09 1555psf only in July.

    Prices gone up so high? Smart developer increasing prices for each floor with time.

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    yes, that's what they do and why not when suddenly they find their units too cheap vs other new launches.

    Quote Originally Posted by andy
    wow. 27-09 1555psf only in July.

    Prices gone up so high? Smart developer increasing prices for each floor with time.

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    but MPR was launched long ago and back then there was either Deferred or IAS, i can't remember.

    Quote Originally Posted by Reporter
    So ... it's 1,894 sqft.

    I think only NPS is available for MPR.

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    Quote Originally Posted by bargain hunter
    based on the info provided by new2mondrain, #31-09 is available at 3.3m. It should be a 1894sq ft 4 bedder so that translates to 1742psf. (If new2mondrain has actual figures, even better ) I'm not sure this price is for deferred or normal.

    The drawback of this unit is that the shorter side of the living room faces west but most of the unit faces north. The view should be better than VIVA's but Urbana will be an eye sore north west of the unit.

    ..........
    If you want 4-bedders without west sun, I think you can also look at The Wharf Residence. The 4-bedders have a 270-degree view and the west sun is being blocked by MPR.

    Like MPR, TWR is left with 4-bedders and penthouses, and the showroom is also closing shop soon. So ... will have to buy based on imagination soon ...

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    the poor take up rate for 4 bedders at The Wharf is possibly because the majority of the project consists of 2 and 3 bedders. The pool and total land area is also too small to be conducive for big families which require 4 bedders. MPR is also too far to block its west sun, even Kim Yam Heights (Oleander Residence) is not directly west of it. I hope this is not the big unit development which you just bought.



    Quote Originally Posted by Reporter
    If you want 4-bedders without west sun, I think you can also look at The Wharf Residence. The 4-bedders have a 270-degree view and the west sun is being blocked by MPR.

    Like MPR, TWR is left with 4-bedders and penthouses, and the showroom is also closing shop soon. So ... will have to buy based on imagination soon ...

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    Quote Originally Posted by bargain hunter
    the poor take up rate for 4 bedders at The Wharf is possibly because the majority of the project consists of 2 and 3 bedders. The pool and total land area is also too small to be conducive for big families which require 4 bedders. MPR is also too far to block its west sun, even Kim Yam Heights (Oleander Residence) is not directly west of it. I hope this is not the big unit development which you just bought.

    lol, carebelle vs botannia

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    Quote Originally Posted by bargain hunter
    the poor take up rate for 4 bedders at The Wharf is possibly because the majority of the project consists of 2 and 3 bedders. The pool and total land area is also too small to be conducive for big families which require 4 bedders. MPR is also too far to block its west sun, even Kim Yam Heights (Oleander Residence) is not directly west of it. I hope this is not the big unit development which you just bought.
    I would go for TWR 4-bedder due to the 270-degree and the 45-degree west sun. (Actually, 270-degree-view homes will have some west sun and 360-degree-view homes will definitely have west sun.)

    Anyhow, it seems like this 4-bedder discussion will need to change to another thread cos' I think only 1 or maybe at most 2 TWR 4-bedders left and MPR is also left with only 1 or .........

    Quote Originally Posted by bargain hunter
    but MPR was launched long ago and back then there was either Deferred or IAS, i can't remember.
    I thought I read somewhere MPR only has NPS but I can't find it now. I think most buyers will just choose NPS.

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    Reporter, thanks for replying the question on the 4-bedder size posted on P@HH. Yes, it is abt that size. Cannot recall the exact size. No DPS is available.

    Actually for a 31st floor unit at MPR, it is not over-priced (IMHO) given its layout. And 80% of the land area at MPR is used for land-scaping and ground facilities, which is another plus point. My only gripe was that for a unit that size, there is no wet/dry kitchen demarcation. BUT their penthouses are nice. Single-storey, full livable space and no roof-top terrace nonsense. But too bad I don't have so much $$$. In fact I even have to liquidate all my properties simply to afford the $3.3M.. let alone the penthouses. =p

    Hey, what is the big thing u bought? The Wharf? Martin Place? VIDA?

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    you bought 1 of the 4 four bedders at TWR right? hehehe. Ok lah, I agree with you, the view will be great. Still don't like the land area/landscape though.

    mondrian confirmed for you no DPS for MPR.



    Quote Originally Posted by Reporter
    I would go for TWR 4-bedder due to the 270-degree and the 45-degree west sun. (Actually, 270-degree-view homes will have some west sun and 360-degree-view homes will definitely have west sun.)

    Anyhow, it seems like this 4-bedder discussion will need to change to another thread cos' I think only 1 or maybe at most 2 TWR 4-bedders left and MPR is also left with only 1 or .........


    I thought I read somewhere MPR only has NPS but I can't find it now. I think most buyers will just choose NPS.

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    yes, its not overpriced vs other new launches with 4 bedders. Actually, the wet/dry kitchen is also a matter of personal preference right? My wife actually doesn't feel a dry kitchen is necessary and takes up space in the living/dining area. Many developers just feel that having a dry kitchen is more posh and adds it in.


    Quote Originally Posted by new2mondrian
    Reporter, thanks for replying the question on the 4-bedder size posted on P@HH. Yes, it is abt that size. Cannot recall the exact size. No DPS is available.

    Actually for a 31st floor unit at MPR, it is not over-priced (IMHO) given its layout. And 80% of the land area at MPR is used for land-scaping and ground facilities, which is another plus point. My only gripe was that for a unit that size, there is no wet/dry kitchen demarcation. BUT their penthouses are nice. Single-storey, full livable space and no roof-top terrace nonsense. But too bad I don't have so much $$$. In fact I even have to liquidate all my properties simply to afford the $3.3M.. let alone the penthouses. =p

    Hey, what is the big thing u bought? The Wharf? Martin Place? VIDA?

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    Quote Originally Posted by bargain hunter
    yes, its not overpriced vs other new launches with 4 bedders. Actually, the wet/dry kitchen is also a matter of personal preference right? My wife actually doesn't feel a dry kitchen is necessary and takes up space in the living/dining area. Many developers just feel that having a dry kitchen is more posh and adds it in.
    Yup, the wet/dry kitchen is really a personal preference. For people who like to cook/bake, having a dry kitchen is good. But this is a dwindling number actually.

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    wa.. showroom closing soon? .. better go down and grab a brochure..

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    Quote Originally Posted by focus
    wa.. showroom closing soon? .. better go down and grab a brochure..
    last weekend was the final weekend. was told by agent that showroom will be closed after sunday... all enquiries to be directed to FCL. can try ur luck though.

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    Quote Originally Posted by URA
    Private Residential Units Sold in the Month of November 2009

    Project Name .............. Locality . Units Sold To Date . Units Sold In Month . Highest $psf . Median $psf . Lowest $psf
    Martin Place Residences . CCR ......... 298 ......................... 1 ................................
    1,770 ............. 1,770 ........... 1,770
    4 units are still available.

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    Hey!
    Next time, pass this kindda only-need-to-hold-6-months lobang to me please!
    What a lucky guy from Martin Place Residences!


    Martin Place Residences
    Address ..................... psf .............. Area ........... Price ............ Contract Date
    2 Martin Place #29-06 .... $1,800 psf .... 1,044 sqft .... $1,879,000 ...... 2 Dec 09
    2 Martin Place #29-06 .... $1,582 psf .... 1,044 sqft .... $1,652,000 .... 25 May 09

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    Aspen Heights condo resale price hits $1,450 psf
    The Edge
    Monday, 25 January 2010


    Aspen Heights

    Aspen Heights may be 11 years old, but the massive 606-unit condominium located along River Valley Road has been enjoying a resurgence of interest from homebuyers, riding on strong sales of new developments nearby. After only 15 transactions hovering at the $1,000 psf level in the first half of 2009, more than 30 units have changed hands in 2H2009, with prices surging past $1,400 psf. For the period Dec 23 to 31, there were three caveats for units sold at $1,250 to $1,450 psf, according to URA Realis.

    After the onset of the financial crisis in late 2008, prices at Aspen Heights sank below $1,000 psf for about half a year, before rebounding strongly in June 2009 with the rest of the market. The main reason for the upturn could be the strong sales of nearby developments, including The Wharf Residence and Martin Place Residences, which were among the top sellers last year.

    The 2 upper-mid-tier projects were relaunched in mid-May last year at prices that were 20% lower than in early 2008. For instance, in mid-May last year, CapitaLand had priced the remaining units at the 173-unit The Wharf Residence on Tong Watt Road off River Valley Road at $1,200 to $1,500 psf, compared with $1,500 to $1,900 psf for the first phase released at previews in mid-2008. Meanwhile, Frasers Centrepoint Ltd also relaunched Martin Place Residences at Martin Place off Kim Yam Road at $1,260 to $1,700 psf, compared with its soft launch in early 2008, when 28 units were sold between $1,700 and $2,000 psf.

    Since last May, however, prices of both projects have enjoyed an uplift. Last October, a high of $1,496 psf was achieved in a new sale by the developer when a 2,206 sq ft unit at The Wharf Residence was sold for $3.3 million. The condo is expected to be completed in 2013.

    Likewise, at the 302-unit Martin Place Residence, sales have picked up since May. Last month, a 1,044 sqft unit was sold for $1.88 million, or $1,800 psf, in a sub-sale according to a Dec 2 caveat. This is a 13.7% gain for the original owner, who purchased the unit from Frasers Centrepoint Homes and sold it in just 6 months.

    The buoyant demand for homes in the River Valley Road area could also have been sparked by the new shopping centres that opened along Orchard Road last year: ION Orchard, Orchard Central, 313@Somerset and Triple One Somerset (at the former Singapore Power Building site). Easy access to a range of good schools like River Valley Primary School and Singapore Management University as well as cafés and restaurants in the Robertson Quay area continue to reel in families with school-going children as well as investors.

    New developments under construction have also drawn buyer interest to existing developments in the River Valley and Mohamed Sultan neighbourhood. The largest project in the area is easily Aspen Heights, developed by the former DBS Land (now part of CapitaLand). Units range from 882 sqft 2-bedroom apartments to 1,604 sqft for 4-bedrooms, while penthouses measure 2,691 to 3,143 sqft.

    With prices recovering to 2007 levels, it’s also a good time for owners looking to sell their properties. According to a Dec 30 caveat, a 1,324 sqft unit on the fifth floor of block 263 (one of two blocks) changed hands for $1.67 million, or $1,260 psf, translating into a 23% gain for the seller, who purchased the unit in early 2007.

    On the 10th floor of the neighbouring block 261, a 2,691 sqft penthouse fetched $3.9 million, or $1,450 psf. That’s a 19% gain for the seller, who purchased the unit for $3.28 million 3 years ago, according to a March 2007 caveat.

    With renewed investor interest in projects in Orchard Road and investors targeting both older projects and new launches, it won’t be surprising to see resale prices at Aspen Heights returning to or even surpassing mid-2007 levels.

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    Quote Originally Posted by Reporter
    Hey!
    Next time, pass this kindda only-need-to-hold-6-months lobang to me please!
    What a lucky guy from Martin Place Residences!


    Martin Place Residences
    Address ..................... psf .............. Area ........... Price ............ Contract Date
    2 Martin Place #29-06 .... $1,800 psf .... 1,044 sqft .... $1,879,000 ...... 2 Dec 09
    2 Martin Place #29-06 .... $1,582 psf .... 1,044 sqft .... $1,652,000 .... 25 May 09
    at that time...I think a lot of people will think this project still too expensive S$ 1,582 psqft, will you dare to buy at that time....I salute those people who are there..

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    Quote Originally Posted by Paul-tc
    at that time...I think a lot of people will think this project still too expensive S$ 1,582 psqft, will you dare to buy at that time....I salute those people who are there..
    I think "Property_Owner" has just replied with a "thank you" for your salute.

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    Quote Originally Posted by Reporter
    I think "Property_Owner" has just replied with a "thank
    you" for your salute.
    I bought a unit at 05,1163 sq ft last May for investment. I wonder if it is time to let go as the upward potential will be subdued from now on with the govt geared to put on more?? cooling measures.

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    As with all investments, good time to leave when your profit target is reached.

    Try and see if they are buyers.... then you will know the market rate for your property, the demand and perhaps the lack of demand... LOL...

    There's really no harm to hold on to the property if you have holding power... sometimes it takes luck and patience to ride out the cycle.

    Assuming all things constant, the only way to go is for the prices to go up due to inflation alone... other factors could push it down but it is going to be very bad factors that affects everyone, like global recession etc.

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    The recent government measures has totally no impact at all ...
    If you guys have been down at the showflats recently, you will realise that.

    In fact, the recent measures sent this message to the public :

    "Property prices are going to move up big time! So we are putting in measures to ensure that it only goes up 20%, not 50%!"

    So based on the above message people get ... crowds gathered at Altez, which sold so many units that they are now releasing floor by floor so that they up the prices more easily, Estatury (did I get the name right?), aunites and uncles panting and rushing down with cheques in hand ... there are no less than 300 of them, mind you!

    The Laurels, people pressuring agents to take their cheques ... sources close to the action says there is more than 45% queue for 1 BR units ...

    There are at least 5 more such examples, a bit tired typing similar content.

    All the Best!
    Huat Ah !

    DKSG

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    Quote Originally Posted by DKSG
    The recent government measures has totally no impact at all ...
    If you guys have been down at the showflats recently, you will realise that.

    In fact, the recent measures sent this message to the public :

    "Property prices are going to move up big time! So we are putting in measures to ensure that it only goes up 20%, not 50%!"

    So based on the above message people get ... crowds gathered at Altez, which sold so many units that they are now releasing floor by floor so that they up the prices more easily, Estatury (did I get the name right?), aunites and uncles panting and rushing down with cheques in hand ... there are no less than 300 of them, mind you!

    The Laurels, people pressuring agents to take their cheques ... sources close to the action says there is more than 45% queue for 1 BR units ...

    There are at least 5 more such examples, a bit tired typing similar content.

    All the Best!
    Huat Ah !

    DKSG
    yes the stamp duty thingy only pushed prices even higher to cover the cost ...

    but still i feel , sales are good at new launches ONLY

    i still see alot of adverts for resale/subsale .. .

    still same scenario ... all want to buy new launches ..but not resale ...

    why is that ?

    same reason .. valuation for launched/old projects are not supported
    so potential buyers have problem securing a fair loan ...

    while new launches have developers' support, and the banks' ...
    when u buy new launches, and take a loan from the bank working with the developer, you are paying more ..so banks are more willing to lend ..

    while old projects .. banks not so keen to 'value' it to market ..

    so if any measures are to be effective ..it should target the VALUATION and the Banks..who loan to new launches at say 2000 psf and only value 1800 psf for a neighbouring old projects ..

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    Quote Originally Posted by Condorich
    As with all investments, good time to leave when your profit target is reached.

    Try and see if they are buyers.... then you will know the market rate for your property, the demand and perhaps the lack of demand... LOL...

    There's really no harm to hold on to the property if you have holding power... sometimes it takes luck and patience to ride out the cycle.

    Assuming all things constant, the only way to go is for the prices to go up due to inflation alone... other factors could push it down but it is going to be very bad factors that affects everyone, like global recession etc.
    Thanks guys. I have been busy and I think a bit out of touch with the going-ons in the prop markets. Sound still quite hot though. Will wait and see how ...

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    In general, I believe this is a mis-conception that banks value new properties higher than re-sale properties. They don't purposely do that, but just that new properties with zero sale have nothing to benchmark against. While they can use surrounding properties as a guide, this is also not a good gauge (e.g. Ardmore Park already >10 years old still can sell at $3000+ psf while others nearby even if new sell at lower price). The main reason why developers find it easier to sell new properties than current owners trying to sell re-sale is that:
    1) people prefer new
    2) people prefer to let developers make large profit by buying from them at much higher price than buy from existing owners at lower price if existing owners also make profit but much smaller (strange isn't it? Let developers earn a lot is Ok but not existing owners).
    3) Banks peg valuation to other units already sold and hence if previously transacted units is of lower price, then valuation also lower. So developers just have to sell a few best units first to set the price for valuation and hooray they get better valuations!
    4) Developers can set price trend upwards (short-term, until they sold all their units) while individual owners cannot.

    Quote Originally Posted by proud owner
    yes the stamp duty thingy only pushed prices even higher to cover the cost ...

    but still i feel , sales are good at new launches ONLY

    i still see alot of adverts for resale/subsale .. .

    still same scenario ... all want to buy new launches ..but not resale ...

    why is that ?

    same reason .. valuation for launched/old projects are not supported
    so potential buyers have problem securing a fair loan ...

    while new launches have developers' support, and the banks' ...
    when u buy new launches, and take a loan from the bank working with the developer, you are paying more ..so banks are more willing to lend ..

    while old projects .. banks not so keen to 'value' it to market ..

    so if any measures are to be effective ..it should target the VALUATION and the Banks..who loan to new launches at say 2000 psf and only value 1800 psf for a neighbouring old projects ..

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