Residential rents seen rising further

[mr funny.]

Published March 28, 2008

Low point of crisis may be over, feels Temasek unit

Investors have reached the point of maximum fear, says Fullerton CEO


(SINGAPORE) Temasek Holdings' fund management unit says investors have passed 'the point of maximum fear' amid the global credit squeeze. Fullerton Fund Management sees the US Federal Reserve's decision to rescue Bear Stearns as a turning point in the crisis.

'The Fed coming in to facilitate JPMorgan Chase & Co's purchase of Bear Stearns is a watershed event, and most bottoms are found during watershed events,' Fullerton CEO Gerard Lee said in an interview here yesterday. 'From that perspective, we could have already crossed the point of maximum fear.'

The Fed stepped in with JPMorgan on March 14 to provide emergency funding to Bear Stearns in the biggest government bailout of a US securities firm. The move is now being probed by the Senate.

Before the announcement, Bear Stearns' clients withdrew US$17 billion in two days amid speculation that the firm was running short of cash.

Templeton Asset Management's Mark Mobius said he 'generally' agrees with Temasek's assessment that the markets have reached a bottom.

'If we haven't achieved it, we're damn close,' Mr Mobius, who oversees US$47 billion in emerging- market equities, said in a phone interview from Hong Kong yesterday.

'With the kind of liquidity that's pouring into the system, with the Fed, and now the European Central Bank and others putting more money into the system, we think stock prices are not going to remain down. We think there's a good chance of growth going forward.'

Some funds are already planning to buy shares in Asia, where stocks have tumbled this year even as economies in China and India continue to grow. The MSCI Asia Pacific Index trades at 14 times estimated earnings, after slumping 13 per cent the past six months as fallout from the US sub-prime crisis spread through Asia, making stocks in the benchmark 36 per cent cheaper than the five-year average.

Value Partners Group, Asia's second-largest hedge fund manager, is buying stocks in the region that were battered by the collapse of the US sub-prime mortgage market, chief investment officer Cheah Cheng Hye said this week. The Hong Kong-based asset manager aims to start a new fund in the second quarter to invest in Greater China property stocks, Mr Cheah said.

Funds such as Clariden Leu AG, which manages US$300 million, said the recovery from the US housing crisis may take 1-2 years.

'What we have seen in the last couple of weeks culminating in the rescue of Bear Stearns by the Fed and a further pump of liquidity in the market may somewhat signal an inflexion point in the crisis - but this bottoming-out phase, we reckon, will take a long time,' Michael Foo, head of Asian portfolio management at Clariden, said in an interview yesterday.

Fullerton, which oversees US$2.5 billion of third- party money, is still bullish on prospects in Asia, where it has most of its assets. It said the goal to manage US$3 billion excluding Temasek's funds by mid-year is achievable. Temasek manages a portfolio worth more than US$100 billion.

'The fundamental reasons for this secular growth are all in place,' Mr Lee said. 'The few of the big economies are found in Asia. I'm talking about China, India, Vietnam and South Korea. So Asia, being a destination for investment money from the developed world, will continue to grow.'

Fullerton's main customers are wealthy individuals in Japan, South Korea, Taiwan, Hong Kong and institutions in Singapore, where it became a separate unit of Temasek in 2003. It aims to expand in the US, Europe, Australia and the Middle East. -- Bloomberg

[Reuters]

Want to earn more? British professionals move abroad
Reuters
London, U.K.
Friday, 28 March 2008, Singapore Time



British professionals could earn an average 40% more by relocating abroad, research shows.

The average professional expatriate earns 67,000 pounds (S$185,328), compared to a UK average of 47,000 pounds - 42.6% less, according to NatWest International.

Its 'wealth ranking survey', undertaken with the Centre of Future Studies think-tank, shows that the United Arab Emirates tops the charts, with professionals netting an average annual salary of 79,000 pounds.

Even Portugal, at the lower end, comes in with a respectable average annual wage of 58,000 pounds.

However, when the cost of living is taken into account Spain (with an average expat salary of 65,000 pounds) and Italy (76,000 pounds) jumped up the table.

Mr David Isley, head of personal banking at NatWest International, said: 'The wage packets of expats are very encouraging for people who are looking to move abroad.

'People who are willing to move abroad not only benefit from bigger earnings in countries such as Spain and Italy, but also have the advantage of a lower cost of living.' Overall, 68% of those surveyed found that the cost of living abroad to be lower than in the UK, which lead to 90% considering themselves financially better off.

Almost 70% also said they felt healthier living abroad.

Mr Isley said: 'Expats who have moved abroad appear to be wealthier, healthier and happier and all these factors have contributed to a better quality of life.

'It seems as if expats have not only found their pot of gold abroad, but are able to enjoy themselves and feel healthier for having made the move.'

The global survey also revealed the countries with the highest proportion of Britons working in certain occupations.

Canada had the most engineers, medical personnel, academics and teachers. IT professionals seemed to flock to Sweden; economists and accountants to Singapore; scientists to New Zealand; financial services workers to the UAE; and marketing and sales professionals to Portugal.

The research looked at expats in the following 10 countries: Canada, France, Italy, New Zealand, Norway, Portugal, Singapore, Spain, Sweden and the UAE.

A total of 1,399 expats were surveyed. The report was also based on a range of data including figures from the Office for National Statistics, International Passenger Survey, the Organisation for Economic Co-operation and Development and the World Values Survey.

[Unregistered]

[QUOTE=Unregistered]

Dun think so. I think their bidding price is reasonable. The second offer is trying luck so we cannot compare with that offer. If they bid too low, they run the risk of rejected sale from URA, like the Jurong West land. Then it is as good as nothing. When no one is buying land , it is wise to go in when there is no competition. A wise developer will not dream to secure a land at unreasonable offer as our government is not desperate to sell.

So you think that paying an extra $86m is reasonable - you must be nuts to do this kind of business.

And you call others sour grapes. That's because you are broke nuts.

[我报]

Jobs slashed in the US, but jobs aplenty in Asia
Claire Huang
我报
Thursday, 13 March 2008



While the weakening United States' economy saw 63,000 jobs slashed last month, Asia Pacific is troubled by a talent crunch.

The Robert Walters Global Survey released yesterday showed that even as salaries increase regionally, there is still a shortage of middle to senior level candidates.

Mr Mark Ellewood, managing director of recruitment specialist Robert Walters Singapore, said that the US recessio is starting to affect Europe, but he said as long as it does not spread to China and India, the bullish job trend will remain.

It is an observation echoed by Mr James Koh, director of global staffing firm Aquent Singapore.

He said: "Market sentiment is still strong in this part of the world and companies are still bullish in their outlook."

However, he added that companies "are taking the US situation into consideration" and "making sure the business is prepared to weather any tremors".

The Robert Walters survey says that on average, the various sectors in Singapore raised their total hiring by 15 to 20% last year.

Still, there is a local shortage and it has resulted in "companies looking overseas to recruit foreign talent, particularly from Europe and Australia", Mr Ellewood said.

For every one local hire in the energy sector, for example, two are foreigners. These include engineers and technicians from countries such as the Philippines, India and Myanmmar.

The banking and financial sector saw an increase of at least 30% in foreign hires last year, compared to 2006.

The talent crunch is also not helped by government projects planned by countries in this region.

Malaysia's Multimedia Super Corridor and its 9th Malaysian Plan, for example, have contributed to the high demand for information technology talent, the survey says.

In Hong Kong, companies are resorting to guaranteed bonuses and buy-out notice periods to lure the top brains. In New Zealand, some candidates are hired before they arrive in the country to prevent them from being poached.

The Robert Walters survey was based on the salaries of the employees it hired in 2007, across all sectors and countries within which it operates.

[Unregistered]

The second highest bid was submitted by Far East at $301.14 psf ppr.

Li Kashing's Cheung Kong group's winning bid of $305.36 psf ppr is only 1.4% above the second highest bid.

Not 75%.



This shows that sour grapes are either:

1. Clueless about the property market; or
2. Extremely poor in mathematics; and
3. Prone to bullshit.

How could a sour grape have "Heard the team deciding on the bidding price is in serious trouble because the bidding price is way too high"?

In order to hear that the team is in "serious trouble", the person "hearing" it must be farely well-connected in property circles. How can sour grapes be well-connected in property circles?

If sour grapes are well-connected in property circles, then they won't be sour grapes in the first place. This is known as the SGP (Sour Grape Paradox).

In fact, Cheung Kong, even though based in Hong Kong, had demonstrated very sharp market acumen to bid only 1.4% above the next highest bid.

This is totally contradictory to sour grape's "wise" observations that "their knowledge of the local market and other property players are really limited!!!!"

You're climbing up the wrong nut tree. He's talking about the Yishun land parcel - bid by MCL. Even more nuts than the guy who thought the bid was reasonable.

Anyway you cracked and broke nuts can have the whole forum to yourselves. Nothing you say will change the market.

[Unregistered]

You're climbing up the wrong nut tree. He's talking about the Yishun land parcel - bid by MCL. Even more nuts than the guy who thought the bid was reasonable.

Anyway you cracked and broke nuts can have the whole forum to yourselves. Nothing you say will change the market.

OK, goodbye loser!

[Unregistered]

Wah!
Singapore is Top10 destination for UK expats.
But Singapore is very small and UK is very big leh.
If many of them come, our island will sink.
How?

[Unregistered]

Within next 12 months, you will see DOW at 16000, STI at 4500, spore property will easily >60% of today's price.
No need to buy or sell, sit tight & watch.

Dow Heading For 16,000, Richard Band Says Rolling Eyes
Mark Hulbert
Dow Jones
Anandale, Virginia, U.S.
Friday, 28 March 2008, 12:58 AM U.S. EST

Richard Band is not someone who makes outlandish predictions just to get headlines.

So I sat up and took notice earlier this week when he wrote to subscribers of his Profitable Investing newsletter that the stock market was ready to "rocket higher" in an "uptrend that could carry the blue chip indexes to all-time highs by late 2008 or early 2009. Dow 16,000 here we come!"

The Hulbert Financial Digest (HFD) has been tracking Band's newsletter since the beginning of 1991. Over the subsequent 17 years, his recommended portfolio has been 35% less volatile than the overall stock market, as measured by relative volatilities. To use a baseball analogy, this shows that Band is more inclined to try to get a base hit than he is to attempt to belt a home run.

Band's conservative approach is crucial to properly interpreting his newsletter's performance. According to the HFD, the newsletter's model portfolios on average have produced an 8.6% annualized return since the beginning of 1991, in contrast to 10.9% annualized for the Dow Jones Wilshire 5000 index (DWC). But with only two thirds as much risk, we should expect some below-market return.

It turns out that, upon risk-adjusting his newsletter's performance, it equals that of the market itself. That's good enough to place it in the upper echelon of newsletters over this period, and another reason to give weight to his forecast.

Technical factors appear to have led Band to make such a bold prediction, which amounts to a 33% return for the overall market over the next 12 months.

The first has to do with the stock market's internal characteristics when it hit a low earlier this month. Band argues that that low possessed "many striking technical resemblances to the great bear market bottoms of the past."

To be sure, Band wrote that on Tuesday night, and since then the Dow Jones Industrial Average (DJI) has dropped 230 points.

But Band says he is not particularly worried. On Thursday night, he told subscribers not to let "Mr. Market wear you out!"

Band continued: "We're in a critical stage for stocks right now, what technical analysts call the 'right shoulder' of a head-and-shoulders bottom. The left shoulder formed on March 10, when the Standard & Poor's 500 index (SPX) touched its closing low for the year (so far) at 1273.37. The upside-down head came on March 17, when the index broke to a new low intraday but finished at 1276.60, slightly above the March 10 close. Now we're sliding down again to complete the right shoulder of the pattern. If all goes well, the S&P should remain comfortably above the two previous closing lows. Then we can rocket higher in April."

Band adds that when the right shoulder of a head-and-shoulders bottom is forming, "the biggest temptation for investors is to throw up their hands and say, 'This market will never go up. It's doomed.' Don't make that mistake. A very powerful and durable rally is in the works. But it may need another couple of days to lift off. Hold the fort and keep the faith!"

Band is recommending several exchange-traded funds and one open-end mutual fund for subscribers who want to increase their equity exposure: The iShares Russell 1000 Growth Fund (IWF), the iShares MSCI Emerging Markets Index Fund (EEM), and Selected American Shares (SLASX).

Sure or not? 16,000! No joke you know?

[Unregistered]

SINGAPORE : Billion Rise - a company believed to be linked to Hong Kong property giant Cheung Kong Holdings - has put in the top bid of S$110.4 million for a residential site at West Coast Crescent.

This works out to S$305 per square foot per plot ratio for the 99-year leasehold parcel.

Analysts expect a break-even price of between S$680 and S$720 per square foot for a new condominium on the site. The units are expected to be marketed at around S$800 per square foot.

If you guys are not aware, HK Property Giant Cheung Kong Holdings is actually part of LKS's group of companies. These sharp, well informed Hongkoners just don't close one eye and buy. They know West Coast area is another gem waiting to be harvest. Billion Rise will ramp up the prices for WC/PP area, in 2-3 years time, you will see psf going up like no tomorrow. HUAT AH!!!!

Heard the team deciding on the bidding price is in serious trouble because the bidding price is way too high (75% higher than the second highest bid) which meant their knowledge of the local market and other property players are really limited!!!!

You're climbing up the wrong nut tree. He's talking about the Yishun land parcel - bid by MCL. Even more nuts than the guy who thought the bid was reasonable.

Anyway you cracked and broke nuts can have the whole forum to yourselves. Nothing you say will change the market.

No I am not climbing up the wrong sour grape tree. You can refer to the posts above, the sour grape was obviously referring to Billion Rise (Cheung Kong's) West Coast bid. I have cut and pasted the sequence of posts above, as evidence, or you can scroll back to earlier pages and refer to the posts yourself.

The problem with sour grapes is that they are not familiar with the property market, but yet like to talk rubbish.

Obviously, the sour grape has confused Billion Rise (Cheung Kong)'s $305 psf ppr bid for the West Coast site with MCL Land's $350 psf ppr bid for the Yishun site.

This is the fifth demonstration of ignorance by a sour grape that I have detected in this forum.

The first was when a sour grape commented that "Bayshore Park" had no sea view because it was blocked by Costa Del Sol, when in fact the development that was blocked was "The Bayshore".

The second time was when a sour grape didn't know that the bulk property purchases were usually done at a discount.

The third time was when a sour grape didn't know that a bank's job is to make loans and not to speculate in properties.

The fourth time was when a sour grape didn't know that agents don't really care whether the market moves up or down, but that it moves.

Now this is the fifth time, confusing a West Coast bid with a Yishun bid. Well $305 psf ppr has the same digits as $350 psf ppr. There are the three numbers "3", "0" and "5".

Just like "Bayshore Park" and "The Bayshore" both have the same word "Bayshore" inside it.

Perhaps sour grapes are people who are easily confused.

[Unregistered]

No I am not climbing up the wrong sour grape tree. You can refer to the posts above, the sour grape was obviously referring to Billion Rise (Cheung Kong's) West Coast bid. I have cut and pasted the sequence of posts above, as evidence, or you can scroll back to earlier pages and refer to the posts yourself.

The problem with sour grapes is that they are not familiar with the property market, but yet like to talk rubbish.

Obviously, the sour grape has confused Billion Rise (Cheung Kong)'s $305 psf ppr bid for the West Coast site with MCL Land's $350 psf ppr bid for the Yishun site.

This is the fifth demonstration of ignorance by a sour grape that I have detected in this forum.

The first was when a sour grape commented that "Bayshore Park" had no sea view because it was blocked by Costa Del Sol, when in fact the development that was blocked was "The Bayshore".

The second time was when a sour grape didn't know that the bulk property purchases were usually done at a discount.

The third time was when a sour grape didn't know that a bank's job is to make loans and not to speculate in properties.

The fourth time was when a sour grape didn't know that agents don't really care whether the market moves up or down, but that it moves.

Now this is the fifth time, confusing a West Coast bid with a Yishun bid. Well $305 psf ppr has the same digits as $350 psf ppr. There are the three numbers "3", "0" and "5".

Just like "Bayshore Park" and "The Bayshore" both have the same word "Bayshore" inside it.

Perhaps sour grapes are people who are easily confused.

Brother, relax! Forgive him lah. Price not down, sour grape is panic, where got time to do homework, where got brain to think.

[Unregistered]

No I am not climbing up the wrong sour grape tree. You can refer to the posts above, the sour grape was obviously referring to Billion Rise (Cheung Kong's) West Coast bid. I have cut and pasted the sequence of posts above, as evidence, or you can scroll back to earlier pages and refer to the posts yourself.

The problem with sour grapes is that they are not familiar with the property market, but yet like to talk rubbish.

Obviously, the sour grape has confused Billion Rise (Cheung Kong)'s $305 psf ppr bid for the West Coast site with MCL Land's $350 psf ppr bid for the Yishun site.

This is the fifth demonstration of ignorance by a sour grape that I have detected in this forum.

The first was when a sour grape commented that "Bayshore Park" had no sea view because it was blocked by Costa Del Sol, when in fact the development that was blocked was "The Bayshore".

The second time was when a sour grape didn't know that the bulk property purchases were usually done at a discount.

The third time was when a sour grape didn't know that a bank's job is to make loans and not to speculate in properties.

The fourth time was when a sour grape didn't know that agents don't really care whether the market moves up or down, but that it moves.

Now this is the fifth time, confusing a West Coast bid with a Yishun bid. Well $305 psf ppr has the same digits as $350 psf ppr. There are the three numbers "3", "0" and "5".

Just like "Bayshore Park" and "The Bayshore" both have the same word "Bayshore" inside it.

Perhaps sour grapes are people who are easily confused.

As a whole, seller are more knowledgable than buyers in terms of property market.
It is not surprise because most sellers had done buying before while most of the buyers were not doing selling before...As what chinese say: 'know me know you, conquer hundred times and win hundred times'

[Unregistered]

As a whole, seller are more knowledgable than buyers in terms of property market.
It is not surprise because most sellers had done buying before while most of the buyers were not doing selling before...As what chinese say: 'know me know you, conquer hundred times and win hundred times'

I think most sellers had make good money in the property boom.Therefore they speak with confidence cum with strong holding power.

[Unregistered]

I think most sellers had make good money in the property boom.Therefore they speak with confidence cum with strong holding power.

The holding power is due to the fact that most of the recent investors have fairly high income and deep pockets.

During the very hot market, a lot of units were sold out during previews. These were bought by people connected to the developers, sometimes family members, sometimes senior management and business associates who were given priority in booking.

Examples:

The Straits Times

6 July 2007

UNITED Overseas Land (UOL) chairman Wee Cho Yaw and his family have picked up six units in UOL's latest project, Duchess Residences in Bukit Timah.


TODAY 26 Jan 2008

Hsien Yang's in-laws buy F&N-developed condo

Fraser and Neave (F&N) has sold a unit of its Soleil @ Sinaran residential development for $2.66 million to the relatives of its chairman Lee Hsien Yang (picture).


A lot don't make it to the news e.g. some general managers or executive directors buying units.

Generally these are well-heeled people.

Sentosa Cove sets new record for bungalow land

Weekend August 26, 2006

Super-rich drive up in style for bungalow land auction

Jasmine Yin
[email protected]

IT WAS an auction to live at what is dubbed the "world's most desirable address" - and the bidders had the wheels to prove it.

Among the gleaming luxury cars parked outside the glass-panelled Sentosa Cove sales and information centre yesterday afternoon were at two Rolls Royces and three Lamborghinis. Remarked one participant of the closed-door auction: "They make the other Mercedes Benz, Lexus and BMW cars that are parked here look run-of-the-mill."

On offer were 12 prime South Cove Collection bungalow land parcels - nine plots face the ocean, two the waterway and one the fairway.

Almost 400 bidders showed up, Sentosa spokesperson Robin Goh told Today. Half of them were Singaporeans.There was "an air of anticipation" inside the centre, as the bidders - many of whom were from the banking, finance and medical professions - sipped on wine and dined on Les Amis-catered baby scallops and French sausages while waiting for the auction to begin.

[Unregistered]

You're climbing up the wrong nut tree. He's talking about the Yishun land parcel - bid by MCL. Even more nuts than the guy who thought the bid was reasonable.

Anyway you cracked and broke nuts can have the whole forum to yourselves. Nothing you say will change the market.

In the first place, this whole forum is for "cracked and broke nuts" like us.

Read the URL, it says condosingapore.com

Not sourgrapes.com

The proper things to discuss in this forum should be things like:

1. How will the upcoming integrated resorts affect property prices in the West Coast? Then perhaps some West Coasters can share their views and experiences here.

2. Or how does the recent bids by developers tell us about suburban properties? Perhaps someone who owns a suburban condo can tell us about the attractions and infrastructural investments coming up in their areas.

3. Or how foreign talents affect the rental in different parts of Singapore. Perhaps someone staying near Serangoong Gardens would like to share his/her experience about Australian tenants near the Australian International School; and those around Katong about Canadians near the Canadian International campus there.

Instead, we are getting a bunch of sour grapes coming in shouting "Property market crash, crash, crash!" and flooding the whole place with news about the subprime US housing market.

Then some forumers fought back by posting news about stock market going to rise, rise, rise ...

Everytime the forum moderator starts a new thread, notice the title of the thread is related to the local property market here in Singapore, not the subprime or housing market in the US.

Instead, almost every thread ends up as a war between condo investors and the sour grapes.

I suggest the moderator create a new website called sourgrapes.com or subprimeUSA.com or condoUSA.com so that this forum can go back to discussing about condos in Singapore.

[Frustrated]

There are many schzoids and psychos who are depressed like the housinf and subprime market right now.Simply venting their frustrations.

[Unregistered]

There are many schzoids and psychos who are depressed like the housinf and subprime market right now.Simply venting their frustrations.

And you are one of them.

[Unregistered]

Within next 12 months, you will see DOW at 16000, STI at 4500, spore property will easily >60% of today's price.
No need to buy or sell, sit tight & watch.

Dow Heading For 16,000, Richard Band Says Rolling Eyes
Mark Hulbert
Dow Jones
Anandale, Virginia, U.S.
Friday, 28 March 2008, 12:58 AM U.S. EST

Richard Band is not someone who makes outlandish predictions just to get headlines.

So I sat up and took notice earlier this week when he wrote to subscribers of his Profitable Investing newsletter that the stock market was ready to "rocket higher" in an "uptrend that could carry the blue chip indexes to all-time highs by late 2008 or early 2009. Dow 16,000 here we come!"

The Hulbert Financial Digest (HFD) has been tracking Band's newsletter since the beginning of 1991. Over the subsequent 17 years, his recommended portfolio has been 35% less volatile than the overall stock market, as measured by relative volatilities. To use a baseball analogy, this shows that Band is more inclined to try to get a base hit than he is to attempt to belt a home run.

Band's conservative approach is crucial to properly interpreting his newsletter's performance. According to the HFD, the newsletter's model portfolios on average have produced an 8.6% annualized return since the beginning of 1991, in contrast to 10.9% annualized for the Dow Jones Wilshire 5000 index (DWC). But with only two thirds as much risk, we should expect some below-market return.

It turns out that, upon risk-adjusting his newsletter's performance, it equals that of the market itself. That's good enough to place it in the upper echelon of newsletters over this period, and another reason to give weight to his forecast.

Technical factors appear to have led Band to make such a bold prediction, which amounts to a 33% return for the overall market over the next 12 months.

The first has to do with the stock market's internal characteristics when it hit a low earlier this month. Band argues that that low possessed "many striking technical resemblances to the great bear market bottoms of the past."

To be sure, Band wrote that on Tuesday night, and since then the Dow Jones Industrial Average (DJI) has dropped 230 points.

But Band says he is not particularly worried. On Thursday night, he told subscribers not to let "Mr. Market wear you out!"

Band continued: "We're in a critical stage for stocks right now, what technical analysts call the 'right shoulder' of a head-and-shoulders bottom. The left shoulder formed on March 10, when the Standard & Poor's 500 index (SPX) touched its closing low for the year (so far) at 1273.37. The upside-down head came on March 17, when the index broke to a new low intraday but finished at 1276.60, slightly above the March 10 close. Now we're sliding down again to complete the right shoulder of the pattern. If all goes well, the S&P should remain comfortably above the two previous closing lows. Then we can rocket higher in April."

Band adds that when the right shoulder of a head-and-shoulders bottom is forming, "the biggest temptation for investors is to throw up their hands and say, 'This market will never go up. It's doomed.' Don't make that mistake. A very powerful and durable rally is in the works. But it may need another couple of days to lift off. Hold the fort and keep the faith!"

Band is recommending several exchange-traded funds and one open-end mutual fund for subscribers who want to increase their equity exposure: The iShares Russell 1000 Growth Fund (IWF), the iShares MSCI Emerging Markets Index Fund (EEM), and Selected American Shares (SLASX).

Sure or not? 16,000! No joke you know?

Get ready to enjoy another round of assets/equities enhancement soon.

[CNA]

HDB and private property prices up in Q1 flash estimates
Channel NewsAsia
Tuesday, 1 April 2008, 1345 hrs



Private residential property prices in Singapore rose 4.2% in the first quarter this year, according to the latest preliminary estimates from the Urban Redevelopment Authority.

The pace was slower than the 6.8% clip recorded in the fourth quarter of last year.

On a quarter on quarter basis, the biggest rise in property prices for non-landed properties came from the central districts just outside the prime postal districts of 9, 10 and 11.

Prices in these central areas (i.e. RCR) increased 7.7% in January to March, compared with the October to December period.

Properties in the prime districts of 9, 10 and 11, as well as the downtown area and Sentosa (i.e. CCR), rose 7.5% on quarter.

And those in the rest of Singapore (i.e. OCR) advanced about 7% in the first quarter from the previous three months.

The preliminary estimates are based on transaction prices given in caveats lodged during the first 10 weeks of the quarter, as well as the number of new units sold.

Meantime, the Housing and Development Board says prices of HDB resale flats rose 3.4% in the January to March period over the previous three months.

This is lower than the 5.7% increase in the fourth quarter.

Both the URA and HDB will release final figures at the end of April.

The URA said in its release, that as at 4th Quarter 2007,there are about 64,900 private residential units in the pipeline, of which about 56,100 new private housing units are expected to be completed between 2008 and 2011.

There are also some 38,300 units that have yet to be put on sale by developers.

As for the supply of government flats, the HDB said it had made available in the first quarter of this year, some 1,100 new flats in two Build-To-Order (BTO) projects in Punggol and Yishun.

It said that depending on demand, there could be another 5,000 new BTO flats in towns such as Punggol, Sengkang, Woodlands and Bukit Panjang.

The total planned BTO supply of 6,100 new flats for January till September 2008 will surpass the annual BTO flat supply in 2007 and 2006.

This new supply of flats will be in addition to those offered under Balloting Exercises for surplus replacement SERS and other flats, as well as the planned release of three Design-and-Build sites in Simei, Toa Payoh and Bedok with some 1,500 flats in the 1st half of 2008.

[Unregistered]

Get ready to enjoy another round of assets/equities enhancement soon.

Soon? You mean now?

Your property assets just got enhanced in Q1.

[Unregistered]

My stupid reliable source told me it is going down in Q1.
He is worse than UMNO's sources.
At least UMNO still wins.

[Unregistered]

My stupid reliable source told me it is going down in Q1.

There may be some truth in that.

The last two times property market caught fire in Singapore, it ended up burning everyone with extreme crashes.
Once it was the Asian Financial Crisis. Other time was SARS.

This time you have the global financial crisis. Last time Ringgit being devalued caused such a problem in the region. This time the US$ is going down and we have a food shortage. I feel that this time its going to be much worse and the effects will be just as bad. OK so the IR and F1 are coming, but if high-rollers have lost their money, who is going to come and spend here on those items.

[Unregistered]

There may be some truth in that.

The last two times property market caught fire in Singapore, it ended up burning everyone with extreme crashes.
Once it was the Asian Financial Crisis. Other time was SARS.

This time you have the global financial crisis. Last time Ringgit being devalued caused such a problem in the region. This time the US$ is going down and we have a food shortage. I feel that this time its going to be much worse and the effects will be just as bad. OK so the IR and F1 are coming, but if high-rollers have lost their money, who is going to come and spend here on those items.

I know. Believe me. I like you also like to talk, talk, talk. Say this, say that.

Anyway, to put it simply, that stupid source is simply unreliable!
Let's face it. We're all wrong! Wrong, wrong, wrong! All wrong!

Fedup!

[Unregistered]

My suggestion to all ppty owners is to continue to hold your units. Don't let go easily. It comes to a point very soon that ppl will start to realize that in order to preserve their assets value is to invest in ppty to hedge the monster inflation that looming into Asia.

Mark my words, Singapore ppty prices will continue to appreciate and double in a year or two.

[Unregistered]

My suggestion to all ppty owners is to continue to hold your units. Don't let go easily. It comes to a point very soon that ppl will start to realize that in order to preserve their assets value is to invest in ppty to hedge the monster inflation that looming into Asia.

Mark my words, Singapore ppty prices will continue to appreciate and double in a year or two.

Thank you for your suggestion.

I will definitely be holding on to my units and not going to let go.

My units are giving rental yield of around 5% p.a. while I pay the bank interest charges of around 3% p.a.

So I keep the 2% p.a.

The bank is paying me 2% p.a. for borrowing money from them.

Does that sound ridiculous?

[Unregistered]

Thank you for your suggestion.

I will definitely be holding on to my units and not going to let go.

My units are giving rental yield of around 5% p.a. while I pay the bank interest charges of around 3% p.a.

So I keep the 2% p.a.

The bank is paying me 2% p.a. for borrowing money from them.

Does that sound ridiculous?

U r spot on. The more of these news of high rental yield comes out, the more those sour grapes will turn violent and starts to talk nonsense in the forum. Yes, agree that we all should not sell but hold on. Lets those panicky buyer starts to realized that they have to buy at high price, no other choice.

[Unregistered]

My suggestion to all ppty owners is to continue to hold your units. Don't let go easily. It comes to a point very soon that ppl will start to realize that in order to preserve their assets value is to invest in ppty to hedge the monster inflation that looming into Asia.

Mark my words, Singapore ppty prices will continue to appreciate and double in a year or two.

I've just had lunch with a property analyst and he predicts Singapore property market will eventually be like HongKong, ie. price will shoot through the roof like no tomrorow. I tend to believe him cos we are very similar to Hongkong, ie. small land area packed with so many people.

[Unregistered]

I've just had lunch with a property analyst and he predicts Singapore property market will eventually be like HongKong, ie. price will shoot through the roof like no tomrorow. I tend to believe him cos we are very similar to Hongkong, ie. small land area packed with so many people.

What about Manhatten?
It is shooting up like no tomorrow too.

Its average psf has just increased by 20.5% to US$1,289 psf.

Manhattan Apartment Prices Rise
Ilaina Jonas
Reuters
New York, New York, U.S.
Wednesday, 2 April 2008, 12:41am U.S. EDT

Manhattan apartment prices soared in the first quarter, but sales fell and inventory rose under the weight of tighter mortgage terms and Wall Street job fears, according to several reports.

The median sales price rose 13.2% to a record $945,276 over the prior-year quarter, while the average sales price increased 33.5% to a record $1,722,991, according to the Prudential Douglas Elliman Manhattan Market Overview quarterly report released on Wednesday.

"The market is leaning much more to the higher end and part of that comes from what's gone on in the mortgage markets," said Greg Heym, senior vice president of research for Terra Holdings, parent company of real estate firms Brown Harris Stevens and Halstead Property.

"In the mid- to lower-price stuff you see fewer sales in these categories because those are the people affected by tighter standards," Heym said.

The Manhattan housing market has been insulated from the U.S. housing crisis that has sent the national median sales price of an existing home down 8.2% to $195,900. New home prices have fallen even further.

However, soaring mortgage defaults nationwide set off a broader credit crisis that could put more than 25,000 New York jobs in the financial sector - which drives the local real estate market -- at risk.

"When a market is on such solid footing as ours was, it cannot fall apart in a span of a couple of months. It's going to take longer than that. You're going to have to see more layoffs actually happening," Heym said. "Until people are forced to sell their apartment for whatever they can get for them, that's the missing ingredient in a downturn."

So far it hasn't.

The average price per square foot leaped 20.5% to a record US$1,289 psf, according to the Prudential report.

Halstead Property said the average price rose 47% over the first quarter 2007 to $1,690,995, driven by sales of apartment priced over $10 million.

"There were 84 sales in between 15 Central Park West and The Plaza and the effect that that has on all these number is tremendous," Heym said.

Some of the apartment sold during the quarter -- including those at 15 Central Park West and The Plaza -- reflect deals that had been agreed to in previous years.

The median sales price rose 13%, Halstead said. Although sales at ultra luxury projects 15 Central Park West and The Plaza skewed the results, prices still set records or near records even after removing those deals. Without the two projects the average price would have been $1,417,496, Halstead said.

Yet the pace of sales slowed and the number of homes on the market rose for the first time since the housing boom started about four years ago, Herman said.

"That's the story -- sales and inventory this quarter," said Jonathan Miller, author of the Prudential report.

The number of sales fell 1%, according to Halstead. It had about 600 more sales in its statistical pool than Prudential, which said the number fell 34.3% this quarter to 2,282 units. It was the largest drop since Miller began compiling the report in 1989.

"These numbers reflect what happen with the mortgage fiasco," and do not reflect the layoffs that have yet to happen, said Dottie Herman, Prudential CEO.

"People have no sense of urgency, and you're in a much more price sensitive time now," she said. "There's a lot of uncertainty."

The number of homes on the market rose 4.6% to 6,194 from last year, Prudential said. Homes for sale remained on the market for 146 days, two weeks longer than a year earlier, according to the Prudential report.

Wiggle room on prices remained about the same as last year, about a 3.2% discount from the asking price, according to the Prudential report.

"It's not a buyers' market yet, but the pendulum has switched to the buyers now," Corcoran Group Chief Executive Officer Pam Liebman said.

The Corcoran Group said the average price jumped 19% to $1.626 million, while the median rose 9% to $917,000. The price per square foot was up 16% to $1,224. Inventory of homes for sale was up 15% at the end of March.

[Unregistered]

I've just had lunch with a property analyst and he predicts Singapore property market will eventually be like HongKong, ie. price will shoot through the roof like no tomrorow. I tend to believe him cos we are very similar to Hongkong, ie. small land area packed with so many people.

Moron. Whu pay for the lunch? i bet u and he were waiting for each other to pay for the lunch. btw u lunch coffee shop? If price can "shoot" we rather u be shot for talking rubbish

[Unregistered]

I've just had lunch with a property analyst and he predicts Singapore property market will eventually be like HongKong, ie. price will shoot through the roof like no tomrorow. I tend to believe him cos we are very similar to Hongkong, ie. small land area packed with so many people.

Moron. Whu pay for the lunch? i bet u and he were waiting for each other to pay for the lunch. btw u lunch coffee shop? If price can "shoot" we rather u be shot for talking rubbish

Singapore property price shooting through the roof like no tomorrow?

Like Manhatten apartment average psf shooting up by 20.5% to US$1,289 psf?

[Unregistered]

Singapore property price shooting through the roof like no tomorrow?

Like Manhatten apartment average psf shooting up by 20.5% to US$1,289 psf?

Moron. Shoot ur ASS, dun mislead readers here, go find better things to do.
we got nothing to do wit manhatten, Moron, y dun u compare usa sub prime properties? pathetic