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Thread: End of property boom in sight?

  1. #451
    Unregistered Guest

    Default Re: End of property boom in sight?

    Quote Originally Posted by Unregistered
    Excuse me for saying so, but you are indeed quite green.

    Let me, a seasoned property investor, teach you how to read caveats.

    Firstly, you must stop using free-of-charge databases and sign up for the paid version of SISV Realink21 Caveat Database, where they will show you details like the floor and also which unit is being transacted.

    I don't have the time to type out the whole thing here because it's very tedious, but just to give you some examples of transactions regarding Ardmore II.

    The examples I use are mid-floor units because recently there had not been any transactions for the high-floor units.

    Ardmore II

    27 Dec 07 #10-01 : 2,024 sf at S$5,816,125 (S$2,874 psf)

    3 Mar 08 #10-01 : 2,024 sf at S$4,242,231 (S$2,096 psf)

    It's the same unit.

    Before you get too happy again, jumping up and down, that the price has fallen by 27% in three months, let me tell you what is going on because you have obviously not bought a property before.

    Even in the 1997 crash, the price doesn't decrease by 27% in three months, especially when the URA statistics in fact show that prices in the Core Central Region have gone up more than 4.4%.

    What happened is that the "later" price of S$4,242,231 (S$2,096 psf) transacted on 3 Mar 08 is actually a duplicate submission of the caveat for the developer's sale to the first buyer (or speculator/flipper) when Ardmore II was launched in September 06.

    Whereas the "earlier" price of S$5,816,125 (S$2,874 psf) transacted on 27 Dec 07 is the caveat for the speculator/flipper selling to another party as TOP nears.

    Hence the flipper would have made $1,573,894 (or 37% profits) over a period of 1 years and 7 months.

    Around the same time of the transaction, the lawyers for both transactions (i.e. developer vs flipper and flipper vs next buyer) will lodge the caveats, but sometimes one lawyer is slower (especially those that are on the bank's panel who are underpaid and which I have now stopped using, preferring to use my own even if they cost more), and the earlier caveat ended up appearing first.

    Another thing is, you cannot compare high floor with low floor. Your free-of-charge caveat does not show the floor or unit. Those $3,000+ psf are on the very high floors. Unfortunately, there is no transaction for such units since the beginning of the year, so I can't compare.

    Let me show you a few samples (before and after sub-prime). Since I am talking about mid-floor above (#10-01) let's choose some floors around this level.

    Before Sub-Prime

    15 Jun 07 #11-04 : 2,024 sf at $5,150,000 (S$2,545 psf)

    After Sub-Prime

    6 Feb 08 #11-01 : 2,024 sf at S$5,675,000 ($2,804 psf)

    So what we see here is that prices are firm after sub-prime, if you compare units at the same level. This is also what the government statistics from URA showed you.

    You can go and see other caveats like Newton Suites where you will find a lot of caveats being lodged recently at around $900+ psf when in fact everyone knows that the price of Newton Suites should be $1,800+ psf. Those $900+ psf actually refer to the developer's sale price to the speculator/flipper three years ago.

    Let me show you three examples here.

    Newton Suites

    7 Jan 08 #27-01 : 797 sf at S$1,440,000 ($1,808 psf)

    10 Jan 08 #30-01 : 797 sf at S$759,000 ($953 psf)

    10 Jan 08 #17-03 : 1,238 sf at S$2,277,000 (1,839 psf)

    To a green property investor like you, you may conclude that the price has plunged from $1,808 psf to $953 psf (47% "crash") within 3 days (from 7 Jan 08 to 10 Jan 08) and then within the same day (10 Jan 08) "surged" again to $1,839 psf 93% gain.

    Let me assure you that I have been around for a long time, and have never seen property prices plunging by 47% within 3 days, nor rising by 93% within the same day.

    I hope you have learned something. Every one starts out green but if you are humble and willing to learn, then one day you will also become a successful property investor like me.

    Good night.
    Called urself Seasoned Investor???? Still around????
    I thought u run road liao.

    7 Jan 08 #27-01 : 797 sf at S$1,440,000 ($1,808 psf)
    10 Jan 08 #30-01 : 797 sf at S$759,000 ($953 psf)
    10 Jan 08 #17-03 : 1,238 sf at S$2,277,000 (1,839 psf)

    Tis type of info 100% mistake. use common sense. stupid.

  2. #452
    Unregistered Guest

    Default Re: End of property boom in sight?

    Quote Originally Posted by Unregistered
    wooohahaha seasoned property investor....panicking when he saw all the bad news pop out......lol
    Yes, it is a very bad news.

    Said index dropping 1 year ago, but index never drop.
    Said index dropping Q1 08, but index never drop.

    Of course bad news.
    No credit! Look very bad!

  3. #453
    Unregistered Guest

    Default Re: End of property boom in sight?

    Quote Originally Posted by Unregistered
    KEEP THE JUSTIFICATION TO CONSOLE YOURSELF. THE TREND IS THERE FOR EVERYONE TO SEE. HAHAHAHA IF YOU WERE SEASONED YOU WOULD BE RUSHING TO THE EXITS TOO.
    GOODNIGHT
    Exactly. No need to justify.

    URA price index went up 4.2% in Q1 means went up by 4.2%.
    No need to bring out cocks and bulls on why it went up 4.2%.

  4. #454
    Unregistered Guest

    Default Re: End of property boom in sight?

    Quote Originally Posted by Unregistered
    Excuse me for saying so, but you are indeed quite green.

    Let me, a seasoned property investor, teach you how to read caveats.

    Firstly, you must stop using free-of-charge databases and sign up for the paid version of SISV Realink21 Caveat Database, where they will show you details like the floor and also which unit is being transacted.

    I don't have the time to type out the whole thing here because it's very tedious, but just to give you some examples of transactions regarding Ardmore II.

    The examples I use are mid-floor units because recently there had not been any transactions for the high-floor units.

    Ardmore II

    27 Dec 07 #10-01 : 2,024 sf at S$5,816,125 (S$2,874 psf)

    3 Mar 08 #10-01 : 2,024 sf at S$4,242,231 (S$2,096 psf)

    It's the same unit.

    Before you get too happy again, jumping up and down, that the price has fallen by 27% in three months, let me tell you what is going on because you have obviously not bought a property before.

    Even in the 1997 crash, the price doesn't decrease by 27% in three months, especially when the URA statistics in fact show that prices in the Core Central Region have gone up more than 4.4%.

    What happened is that the "later" price of S$4,242,231 (S$2,096 psf) transacted on 3 Mar 08 is actually a duplicate submission of the caveat for the developer's sale to the first buyer (or speculator/flipper) when Ardmore II was launched in September 06.

    Whereas the "earlier" price of S$5,816,125 (S$2,874 psf) transacted on 27 Dec 07 is the caveat for the speculator/flipper selling to another party as TOP nears.

    Hence the flipper would have made $1,573,894 (or 37% profits) over a period of 1 years and 7 months.

    Around the same time of the transaction, the lawyers for both transactions (i.e. developer vs flipper and flipper vs next buyer) will lodge the caveats, but sometimes one lawyer is slower (especially those that are on the bank's panel who are underpaid and which I have now stopped using, preferring to use my own even if they cost more), and the earlier caveat ended up appearing first.

    Another thing is, you cannot compare high floor with low floor. Your free-of-charge caveat does not show the floor or unit. Those $3,000+ psf are on the very high floors. Unfortunately, there is no transaction for such units since the beginning of the year, so I can't compare.

    Let me show you a few samples (before and after sub-prime). Since I am talking about mid-floor above (#10-01) let's choose some floors around this level.

    Before Sub-Prime

    15 Jun 07 #11-04 : 2,024 sf at $5,150,000 (S$2,545 psf)

    After Sub-Prime

    6 Feb 08 #11-01 : 2,024 sf at S$5,675,000 ($2,804 psf)

    So what we see here is that prices are firm after sub-prime, if you compare units at the same level. This is also what the government statistics from URA showed you.

    You can go and see other caveats like Newton Suites where you will find a lot of caveats being lodged recently at around $900+ psf when in fact everyone knows that the price of Newton Suites should be $1,800+ psf. Those $900+ psf actually refer to the developer's sale price to the speculator/flipper three years ago.

    Let me show you three examples here.

    Newton Suites

    7 Jan 08 #27-01 : 797 sf at S$1,440,000 ($1,808 psf)

    10 Jan 08 #30-01 : 797 sf at S$759,000 ($953 psf)

    10 Jan 08 #17-03 : 1,238 sf at S$2,277,000 (1,839 psf)

    To a green property investor like you, you may conclude that the price has plunged from $1,808 psf to $953 psf (47% "crash") within 3 days (from 7 Jan 08 to 10 Jan 08) and then within the same day (10 Jan 08) "surged" again to $1,839 psf 93% gain.

    Let me assure you that I have been around for a long time, and have never seen property prices plunging by 47% within 3 days, nor rising by 93% within the same day.

    I hope you have learned something. Every one starts out green but if you are humble and willing to learn, then one day you will also become a successful property investor like me.

    Good night.


    Hello seasoned investors, Did the 4 ardmore II recently transacted in your data??
    If yes put it out.
    Scared let people know that price has dropped ah?

    If seasoned investor so sure price will go up why so scared to reveal the 4 units recently transcated at $2500??

  5. #455
    Unregistered Guest

    Default Re: End of property boom in sight?

    Quote Originally Posted by Unregistered
    15 Jun 07 #11-04 : 2,024 sf at $5,150,000 (S$2,545 psf)

    After Sub-Prime

    6 Feb 08 #11-01 : 2,024 sf at S$5,675,000 ($2,804 psf)

    .

    AHAHaha I am not talking about #11-04 unit lah seasoned investors.
    I am talking about the recently transacted ardmore II. Why bring about the Jun 15 07 transaction??
    This is april 2008, different trend lah.

    If you are so seasoned, did you know the average asking price on Jan and feb are different from the asking price on march and april.

    Such simple rules you also dont know. You should called yourself lucky investors lah rather than seasoned. JAHHAHAHA

  6. #456
    Unregistered Guest

    Default Re: End of property boom in sight?

    Quote Originally Posted by Unregistered
    OH YOU DONT WORRY. YOU THINK OF RUSHING TO THE EXITS. A LOT OF BLOOD ON THE WAY SO PLEASE BE CAREFUL WHEN RUNNING. WEAR RUBBER BOOTS THAT DONT SLIP AND YOU GET A GOOD GRIP. RUN AS FAST AS YOU CAN BCOZ A LOT OF TRAMPLING GOING ON THERE.
    Hahaha ... confirmed!

    This guy who posts in CAPS is an HDB Room Rental Foreign Worker.

    Wear rubber boots some more!

    What an idiot!

  7. #457
    Unregistered Guest

    Default Re: End of property boom in sight?

    IF ONLY I KNEW
    WHAT AWAITED MAKEWAY AND TULIP
    AND THE MANY WHO THOUGHT THEY COULD FLIP
    BRAVO BRAVO EVERYONE SCREAMED
    WHEN THE DEAL WAS SIGNED THEY BEAMED
    ALAS SOME COUNTED CHICKS BEFORE THEY WERE HATCHED
    AND SO NOW FIND THEMSELVES THOROUGHLY THRASHED

    IF ONLY I KNEW
    THAT ENBLOC WOULD FIZZLE OUT
    AND SUPPLY IN MARKET WOULD SPROUT
    I WISH I HAD SOLD IN OCTOBER
    RATHER THAN NOW GO IN DEEP SLUMBER
    WAKE ME UP FRIENDS WHEN BULLS KILL THE PROWLING BEAR
    MAY BE 5 YEARS OR 6....BUT NOW THAT I HAVE LOST I REALLY DONT CARE.

  8. #458
    Unregistered Guest

    Default Re: End of property boom in sight?

    Quote Originally Posted by Unregistered
    IF ONLY I KNEW
    WHAT AWAITED MAKEWAY AND TULIP
    AND THE MANY WHO THOUGHT THEY COULD FLIP
    BRAVO BRAVO EVERYONE SCREAMED
    WHEN THE DEAL WAS SIGNED THEY BEAMED
    ALAS SOME COUNTED CHICKS BEFORE THEY WERE HATCHED
    AND SO NOW FIND THEMSELVES THOROUGHLY THRASHED

    IF ONLY I KNEW
    THAT ENBLOC WOULD FIZZLE OUT
    AND SUPPLY IN MARKET WOULD SPROUT
    I WISH I HAD SOLD IN OCTOBER
    RATHER THAN NOW GO IN DEEP SLUMBER
    WAKE ME UP FRIENDS WHEN BULLS KILL THE PROWLING BEAR
    MAY BE 5 YEARS OR 6....BUT NOW THAT I HAVE LOST I REALLY DONT CARE.
    You are right. Agreed it will be 5 or 6 years before any turn around for price to move up.

  9. #459
    Unregistered Guest

    Default Re: End of property boom in sight?

    Quote Originally Posted by Unregistered
    You are right. Agreed it will be 5 or 6 years before any turn around for price to move up.
    Sorry! Mistake! .... before any turn around for price to move down. I didn't realised there was no down so far.

  10. #460
    Unregistered Guest

    Default Re: End of property boom in sight?

    Quote Originally Posted by Unregistered
    Hahaha ... confirmed!

    This guy who posts in CAPS is an HDB Room Rental Foreign Worker.

    Wear rubber boots some more!

    What an idiot!
    SHUT UP. U BLANGA, U SUPPOSE TO BE SWEEPING THE AREA OF THE WORKERS QUATTER. U MAKE NOISE AGAIN, I SENT U BACK INDIA.............

  11. #461
    Unregistered Guest

    Default Re: End of property boom in sight?

    Quote Originally Posted by Unregistered
    You are right. Agreed it will be 5 or 6 years before any turn around for price to move up.
    5-6 years is along time.
    AUD anual interest at 7-8%

    8% x 6yrs = 48%.

    Investors put money in the bank liao. Why put all the risk in property which are so uncertain.

    Considering if property increase it also wont increase at 48% in 6 yrs.

    6yrs time
    investing on property will probably go like this:

    -40%-------------------0%--------->+20%

    investing on AUD deposits will go like this:

    +36%------------------------------->+48%


    Sure investor invest their money in the bank. Definitely make 36%-48% profit + wont get minus profit + liquid asset+ No tax for offshore time deposit+ stable AUD dollar.

    If put money on property now you will probably get either minus -40% or the most +20% only if you are lucky. Not only that, You have to pay tax, monthly fee, stamp duty + unstable market+ nonliquid asset.

  12. #462
    Unregistered Guest

    Default Re: End of property boom in sight?

    Quote Originally Posted by Unregistered
    Sorry! Mistake! .... before any turn around for price to move down. I didn't realised there was no down so far.
    No Thats not a mistake. IT is indeed 5-6 yrs lol

  13. #463
    Unregistered Guest

    Default Re: End of property boom in sight?

    Quote Originally Posted by Unregistered
    No Thats not a mistake. IT is indeed 5-6 yrs lol
    We are confused by your multiple postings.

    The prices are going up as indicated by the URA price index. You say it is going down! Are you confused?

    Since it is going up now, the turnaround would logically be a going down. Are you saying it is going down in 5-6 years' time? We are confused!

  14. #464
    Unregistered Guest

    Default Re: End of property boom in sight?

    Quote Originally Posted by Unregistered
    Ummm... Do you know that just by that statement, we can already infer that the market is well supported by many would be buyers on the sidelines?

    This does make it unlikely for the market to fall significantly. A drop of 5-10% and your fellow competing buyers would snap it up. How the market crash like that?

    Perhaps you buyers can totally ignore the market for a couple of years? Then perhaps there is a real chance for the market to correct significantly.

    Of course, the risk to you then is that other buyers continue buying and you are left behind once again when the prices rise. Your call...
    Ummm... Do you know that just by that statement, we can already infer that YOU ADMITTED THAT THE MARKET IS ON THE NEGATIVE SIDES!!

    The bad news is 5-10% is a bad deal. Buyers now consider -40% or more is good deal.

    BUT any way congaratulation that you realised now morket is on the - sides.

  15. #465
    Unregistered Guest

    Default Re: End of property boom in sight?

    Quote Originally Posted by Unregistered
    Ummm... Do you know that just by that statement, we can already infer that YOU ADMITTED THAT THE MARKET IS ON THE NEGATIVE SIDES!!

    The bad news is 5-10% is a bad deal. Buyers now consider -40% or more is good deal.

    BUT any way congaratulation that you realised now morket is on the - sides.
    Err .... since when some buyers sideline mean price down? Stop dreaming!

  16. #466
    Unregistered Guest

    Default Re: End of property boom in sight?

    Quote Originally Posted by Unregistered
    Err .... since when some buyers sideline mean price down? Stop dreaming!
    HELLOO, what do you mean by a drop of 5-10%??

    You knew it is negative and still want to deny???

  17. #467
    Unregistered Guest

    Default Re: End of property boom in sight?

    Quote Originally Posted by Unregistered
    Err .... since when some buyers sideline mean price down? Stop dreaming!
    Quote Originally Posted by Unregistered
    HELLOO, what do you mean by a drop of 5-10%??

    You knew it is negative and still want to deny???
    Hello! Read his message properly.

    He never says it has dropped or is dropping 5-10%.
    What he meant is if it drop 5-10%, your competition will snap it up.
    He is telling you it is difficult to drop even 5-10%.

  18. #468
    Unregistered Guest

    Default Now the developers are really spooked.

    Now the developers are really spooked. The Kuwaiti Finance House’s unexpected pullout from the option to purchase $818 million worth of 97 units at Goodwood Residence and a less-than-half-price bid at a recent government land sale tender at Jurong West had sent chill down the spine of major developers in Singapore. After all, the developers’ bogey may be real.

    The fact that the Kuwaiti investors were desperate enough to forgo a huge sum of option fee substantiates the suspicion that they might had overpaid in today’s market. Whether the Kuwaiti has been ill-advised to walk away from the deal remains to be seen. But for now, the damage has been done.

    With the prospect of the global financial market remaining uncertain and the true extend of the financial fallout resulting from the US sub-prime crisis unknown; developers are already resigned to delaying most, if not all, of the launches indefinitely.

    Still, prices are generally holding steady for now and smaller players will still launch small projects in the months ahead.

    Industry sources speculated that Kuwait Finance House had pulled out as it had bought the units at a very high price that could not be supported by the current market.

    A foreign property fund recently agreed to buy all the remaining units at Grange Infinite, though at a huge discount. The 68-unit freehold condo in Grange Road has more than 40 units left.

  19. #469
    Unregistered Guest

    Default Re: End of property boom in sight?

    Quote Originally Posted by mr funny
    Friday, April 4, 2008

    Property fever here starting to cool


    More signs of Singapore's property market slowing: Tenders for a plot of government development land have closed, attracting one of the lowest bids in recent years.

    The residential site bordering Choa Chu Kang Road and Woodlands Road on offer attracted just two bids. The highest offer came from an arm of Peak Properties, which is controlled by the Wee family. It offered $61 million, which works out to just $162 per sq ft (psf) per plot ratio.

    Knight Frank research head Nicholas Mak said: "The current bid is one of the lowest in recent years."

    The low point came last month when just $78 psf was offered for land in Westwood Avenue. This was rejected by the Urban Redevelopment Authority (URA).

    The last time residential land bids fell below $200 psf was between 2000 and 2002, at the height of Singapore's decade-long property slump. It is not yet known whether the URA will accept the Peal Properties' offer.

    The Choa Chu Kang Road site can be potentially used to develop up to 240 condominium units or serviced apartments.

    This tender may serve as a good benchmark for another nearby site in Choa Chu Kang Drive. Bids for this site close in May. Prices of completed units in nearby Maysprings condominium recently transacted at an average price of $530 to $630 psf.
    Yes no investors coming forth. Really the days are over. Just go to sleep for 10 years.

  20. #470
    Unregistered Guest

    Default Re: End of property boom in sight?

    Quote Originally Posted by mr funny
    Friday, April 4, 2008

    Property fever here starting to cool


    More signs of Singapore's property market slowing: Tenders for a plot of government development land have closed, attracting one of the lowest bids in recent years.

    The residential site bordering Choa Chu Kang Road and Woodlands Road on offer attracted just two bids. The highest offer came from an arm of Peak Properties, which is controlled by the Wee family. It offered $61 million, which works out to just $162 per sq ft (psf) per plot ratio.

    Knight Frank research head Nicholas Mak said: "The current bid is one of the lowest in recent years."

    The low point came last month when just $78 psf was offered for land in Westwood Avenue. This was rejected by the Urban Redevelopment Authority (URA).

    The last time residential land bids fell below $200 psf was between 2000 and 2002, at the height of Singapore's decade-long property slump. It is not yet known whether the URA will accept the Peal Properties' offer.


    The Choa Chu Kang Road site can be potentially used to develop up to 240 condominium units or serviced apartments.

    This tender may serve as a good benchmark for another nearby site in Choa Chu Kang Drive. Bids for this site close in May. Prices of completed units in nearby Maysprings condominium recently transacted at an average price of $530 to $630 psf.
    OHHH BELOW 200$PSF? SO LOW ALSO CAN? ANOTHER ONE 78$PSF....NO BISSERS IS IT? IS IT SLUMPING?

  21. #471
    Unregistered Guest

    Default Re: End of property boom in sight?

    Quote Originally Posted by Unregistered
    OHHH BELOW 200$PSF? SO LOW ALSO CAN? ANOTHER ONE 78$PSF....NO BISSERS IS IT? IS IT SLUMPING?
    No, it is not low for that area. It is within expectation.

  22. #472
    Unregistered Guest

    Default Re: Now the developers are really spooked.

    Quote Originally Posted by Unregistered
    Now the developers are really spooked. The Kuwaiti Finance House’s unexpected pullout from the option to purchase $818 million worth of 97 units at Goodwood Residence and a less-than-half-price bid at a recent government land sale tender at Jurong West had sent chill down the spine of major developers in Singapore. After all, the developers’ bogey may be real.

    The fact that the Kuwaiti investors were desperate enough to forgo a huge sum of option fee substantiates the suspicion that they might had overpaid in today’s market. Whether the Kuwaiti has been ill-advised to walk away from the deal remains to be seen. But for now, the damage has been done.

    With the prospect of the global financial market remaining uncertain and the true extend of the financial fallout resulting from the US sub-prime crisis unknown; developers are already resigned to delaying most, if not all, of the launches indefinitely.

    Still, prices are generally holding steady for now and smaller players will still launch small projects in the months ahead.

    Industry sources speculated that Kuwait Finance House had pulled out as it had bought the units at a very high price that could not be supported by the current market.

    A foreign property fund recently agreed to buy all the remaining units at Grange Infinite, though at a huge discount. The 68-unit freehold condo in Grange Road has more than 40 units left.
    IT IS CLEAR THAT THE SLUMP HAS STARTED.

  23. #473
    Unregistered Guest

    Default Re: Now the developers are really spooked.

    Quote Originally Posted by Unregistered
    IT IS CLEAR THAT THE SLUMP HAS STARTED.
    Yah, but that is your slump has started.

    The property market is still moving up. The URA index has just registered a 4.2% price increase.
    Quote Originally Posted by mr funny
    March 26, 2008

    Yishun condo site draws record bid of $213.5m

    MCL Land's offer for 99-year plot almost 70 per cent higher than the next bid

    By Fiona Chan, Property Reporter


    A YISHUN condominium site drew a higher-than-expected top bid when its tender closed yesterday, belying expectations of a property market slide.

    Developer MCL Land offered $213.5 million for the 99-year leasehold plot, which works out to about $350 per sq ft per plot ratio (psf ppr) - believed to be a new benchmark for Yishun.

    Property consultants said this could translate into the finished project selling at record prices for the area, even as home buyers are now holding out for lower prices in a subdued market.

    Mr Nicholas Mak, director of research and consultancy at Knight Frank, estimated that the end units for the Yishun project could be priced from $830 psf up to almost $900 psf.

    This would be almost double what the 99-year leasehold Orchid Park Condo down the road is fetching. Four units at the 14-year-old development have been sold there this year at an average price of $460 psf.

    MCL Land's bid pipped four others and came in almost 70 per cent higher than the next bid, from Peak Green, at $127 million, or $208 psf ppr.

    Frasers Centrepoint, Sim Lian and Hong Kong's Cheung Kong also tabled offers ranging from $57.7 million to $109.7 million, or $95 to $180 psf ppr - which some consultants said were 'unrealistically low' bids. They had predicted bids of between $200 and $300 psf ppr.

    But Mr Li Hiaw Ho, executive director of CBRE Research, said the response was 'fairly robust' and signalled 'developers' confidence in the suburban segment despite the current lukewarm response to new projects'.

    'Should the United States enter a mild recession and the sub-prime problems clear up, sentiment for suburban homes should improve after June, bringing demand and upward price momentum back to the market.'

    Experts described MCL Land's offer as 'extremely bullish' and suggested that the developer may be short on land bank in the mass market segment.

    MCL Land said in its latest financial results that it bought some sites last year, including Holland Hill Mansions and Dynasty Court Garden 1 in Sixth Avenue. Its land bank can now yield 780 units with a total gross floor area of 1.4 million sq ft.

    The Yishun site is at the corner of Yishun Avenues 1 and 2, and is 10 minutes' walk from Khatib MRT Station. It is next to Yishun Stadium and overlooks Lower Seletar Reservoir.

    'The site is good in that frontage to the reservoir is fantastic,' said Mr Ku Swee Yong, director of marketing and business development at Savills Singapore. 'I agree you should pay a premium for this site, but this seems to be a very significant premium.'

    Separately, HDB yesterday put two more sites up for sale through its reserve list system.

    One is a 182,986 sq ft plot at Jurong West Street 42 for executive condos, while the other is a 244,341 sq ft condo site at Chestnut Avenue in Bukit Panjang.

    [email protected]

  24. #474
    Unregistered Guest

    Default Re: End of property boom in sight?

    Quote Originally Posted by Unregistered
    No, it is not low for that area. It is within expectation.
    IT IS LOW. LAST TIME WAS IN 2002. OMG ARE WE DREAMING OR IS IT A REALITY!!!!!

  25. #475
    Unregistered Guest

    Default Re: Now the developers are really spooked.

    Quote Originally Posted by Unregistered
    Yah, but that is your slump has started.

    The property market is still moving up. The URA index has just registered a 4.2% price increase.
    is still low for the strategic location facing water. you can jump in from your balcony.

  26. #476
    Unregistered Guest

    Default Re: Now the developers are really spooked.

    Quote Originally Posted by Unregistered
    is still low for the strategic location facing water. you can jump in from your balcony.
    Low your head lah!
    The selling price will pull the average psf in that area up by 100%.

  27. #477
    Unregistered Guest

    Default Re: Now the developers are really spooked.

    Quote Originally Posted by Unregistered
    Now the developers are really spooked. The Kuwaiti Finance House’s unexpected pullout from the option to purchase $818 million worth of 97 units at Goodwood Residence and a less-than-half-price bid at a recent government land sale tender at Jurong West had sent chill down the spine of major developers in Singapore. After all, the developers’ bogey may be real.

    The fact that the Kuwaiti investors were desperate enough to forgo a huge sum of option fee substantiates the suspicion that they might had overpaid in today’s market. Whether the Kuwaiti has been ill-advised to walk away from the deal remains to be seen. But for now, the damage has been done.

    With the prospect of the global financial market remaining uncertain and the true extend of the financial fallout resulting from the US sub-prime crisis unknown; developers are already resigned to delaying most, if not all, of the launches indefinitely.

    Still, prices are generally holding steady for now and smaller players will still launch small projects in the months ahead.

    Industry sources speculated that Kuwait Finance House had pulled out as it had bought the units at a very high price that could not be supported by the current market.

    A foreign property fund recently agreed to buy all the remaining units at Grange Infinite, though at a huge discount. The 68-unit freehold condo in Grange Road has more than 40 units left.
    KUWAITI INVESTORS NOT DUMB TO LEAVE MONEY ON TABLE. THEY FIND IT BETTER TO LOSE A FEW MILLIONS NOW RATHER THAN LOSE 100'S OF MILLIONS LATER.

  28. #478
    Unregistered Guest

    Talking Re: End of property boom in sight?

    Quote Originally Posted by Unregistered
    IT IS LOW. LAST TIME WAS IN 2002. OMG ARE WE DREAMING OR IS IT A REALITY!!!!!

    IT is a reality buddy. We are not dreaming, those thinking of high unreasonable property price are the one still dreaming.
    Some of them even dream that Orchard condo will go as high as $7000 on 1-2 yrs ago forum. remember that? Some even stated on newspaper saying it will go as high as $7000.

    Now, even kwek leng beng decided not to launch. But these people who considered themselves as seasoned investors speak louder than Kwek.

  29. #479
    Unregistered Guest

    Default Re: End of property boom in sight?

    Quote Originally Posted by Unregistered
    5-6 years is along time.
    AUD anual interest at 7-8%

    8% x 6yrs = 48%.

    Investors put money in the bank liao. Why put all the risk in property which are so uncertain.

    Considering if property increase it also wont increase at 48% in 6 yrs.

    6yrs time
    investing on property will probably go like this:

    -40%-------------------0%--------->+20%

    investing on AUD deposits will go like this:

    +36%------------------------------->+48%


    Sure investor invest their money in the bank. Definitely make 36%-48% profit + wont get minus profit + liquid asset+ No tax for offshore time deposit+ stable AUD dollar.

    If put money on property now you will probably get either minus -40% or the most +20% only if you are lucky. Not only that, You have to pay tax, monthly fee, stamp duty + unstable market+ nonliquid asset.
    U can have the best of both world. If property market will to rebound, your assets appreciate and you can also put the balance cash in AUD (if you so wishes and bear exchange risks). The beauty of property is leverage as long as you know how to use it properly. Bank will loan to you at 80% if you are cash rich. At most, they might request you to put up your deposit (in S$ or Foreign currency) as charge.

    Let me show you an example:

    Investor with cash : $3,396,000 (same value as ppty & stamp duty)

    Bought an apt near City at : $3,300,000
    stamp duty : $96,000

    Borrow from Bank at 80% 1st year SIBOR + 0.5
    2nd year SIBOR + 0.5

    1st year rate : 1.55 + 0.5 = 2.05
    2d year rate : SIBOR (?) + 0.50 = ? + 0.50 (assuming SIBOR maintain in the current environment)

    Gross Rental @4.2% $12,000 (estimate, current average yield)
    MCST 500
    PPty tax pm 500 (6000pa)
    Agt Commission (12000/24) 500
    Others 500 (assume 12K per 2 years which is very conservative)
    Net $10000

    Borrow at 80% $2,640,000
    Monthly payment to bank : 1st year at $11,000
    Interest @2.05% is $4500pm, principal payment is $6500pm.

    Basically, your tenant has help to pay part of your principal ($6500pm).
    U can still invest your balance cash (bank borrowing) S$2,640,000 in AUD (if you wish to and bear the exchange rate risk).

  30. #480
    Unregistered Guest

    Default Re: End of property boom in sight?

    Quote Originally Posted by Unregistered
    U can have the best of both world. If property market will to rebound, your assets appreciate and you can also put the balance cash in AUD (if you so wishes and bear exchange risks). The beauty of property is leverage as long as you know how to use it properly. Bank will loan to you at 80% if you are cash rich. At most, they might request you to put up your deposit (in S$ or Foreign currency) as charge.

    Let me show you an example:

    Investor with cash : $3,396,000 (same value as ppty & stamp duty)

    Bought an apt near City at : $3,300,000
    stamp duty : $96,000

    Borrow from Bank at 80% 1st year SIBOR + 0.5
    2nd year SIBOR + 0.5

    1st year rate : 1.55 + 0.5 = 2.05
    2d year rate : SIBOR (?) + 0.50 = ? + 0.50 (assuming SIBOR maintain in the current environment)

    Gross Rental @4.2% $12,000 (estimate, current average yield)
    MCST 500
    PPty tax pm 500 (6000pa)
    Agt Commission (12000/24) 500
    Others 500 (assume 12K per 2 years which is very conservative)
    Net $10000

    Borrow at 80% $2,640,000
    Monthly payment to bank : 1st year at $11,000
    Interest @2.05% is $4500pm, principal payment is $6500pm.

    Basically, your tenant has help to pay part of your principal ($6500pm).
    U can still invest your balance cash (bank borrowing) S$2,640,000 in AUD (if you wish to and bear the exchange rate risk).
    His point is do you guarantee property will rise above 48% by 2012 . And also do you guarantee property will not give negative return?
    Thats his point becuase in this kind of situation property market is very volatile and it can go either way.

    He pointed out of investing in a safer market yet give you a surprisingly high 40% return.

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