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Thread: HDB and private property prices up in Q1 flash estimates

  1. #31
    Unregistered Guest

    Default Re: HDB and private property prices up in Q1 flash estimates

    Quote Originally Posted by smartinvest
    The general property index is dependent on a collection of parameters
    such as

    1. Demand and Supply - imigrants, HDB upgraders, population growth
    2. Location, location , location & location.
    3. Cost of Development such as labour , raw material -steels , cements & bricks.
    4. Government development charges
    5. Cost of land
    6. General economy health , stock market, interest rate
    7. Government Policy such as defered payment
    8. Sentiment

    So even when developer enbloc default, it only affect that developer and the seller and of course some general sentiment. However cost of development
    & cost of Development charges has gone up quite a lot and of course
    the inflation.

    Generally I would think Property Prices slow down this quarter due to the sell down of the Stock market icaused by subprime crises . However those who are short in properties will be
    seriously short when STI go back to 3500 level and DJI go above 13500.

    If there is a rebound in the property but cap at around 5% to 15% growth throughout this year.

    Nobody want to see the collapse the property market
    especially the banks and authority , neither do they want to see property price go through the roof. They would like growth
    of property prices to be pecked to the GDP growth.
    So those who dream property price to collapse, would also be dreaming for a recession. I think it could not possibly happen in this year.

    For those unsold units, I think it is a result of developers withholding their
    sale until IR is near to completion. Most Blue chip developers have very
    deep pockets now, they can hold on until they can fetch better prices.
    I think there are lots of foregin buyers with deep pocket that match those prices. Those developers that default are generally the weakers one.


    Hope this help to both buyers and sellers.
    You are spot on. Keep up your great posting. Property CHEONG ARHHHHHHHHH

  2. #32
    Reuters Guest

    Default Market Adds To Gains After Factory Data


    Market adds to gains after factory data
    Caroline Valetkevitch
    Reuters
    New York, New York, U.S.
    Tuesday, 1 April 2008, 10:10AM U.S. EDT


    A logo of U.S. investment bank Lehman Brothers is seen outside its Asia headquarters in 1 April 2008 - Photo: Yuriko Nakao, Reuters

    Stocks added to gains on Tuesday after stronger-than-expected data on U.S. factory activity eased some concerns about the economy.

    The Dow Jones industrial average was up 223.26 points, or 1.82%, at 12,486.15. The Standard & Poor's 500 Index was up 23.52 points, or 1.78%, at 1,346.22. The Nasdaq Composite Index was up 43.10 points, or 1.89%, at 2,322.20.

  3. #33
    Reuters Guest

    Default Blackstone Raises US$10.9 Billion Real Estate Fund


    Blackstone raises US$10.9 billion real estate fund
    Megan Davies
    Reuters
    New York, New York, U.S.
    Tuesday, 1 April 2008, 10:15AM U.S. EDT



    Private equity and real estate firm Blackstone Group said on Tuesday it raised $10.9 billion to invest in real estate, and said there should be attractive investment opportunities ahead.

    Blackstone said it had raised a total of nine real estate funds with total capital commitments of $25.7 billion. The fund it just closed is called Blackstone Real Estate Partners VI.

    Previous real estate investments Blackstone has made include Equity Office Properties and Hilton Hotels Corp.

  4. #34
    AP Guest

    Default Stocks Gain After UBS And Lehman Plans


    Stocks gain after UBS and Lehman plans
    Leslie Wines
    Business Writer
    Associated Press
    New York, New York, U.S.
    Tuesday, 1 April 2008, 10:30AM U.S. EDT


    A Wall Street sign outside the New York Stock Exchange. A proposal for the most sweeping overhaul of financial market regulation since the New Deal evoked a range of reactions from praise to outright skepticism on Monday. - Photo: Mario Tama, AP

    Wall Street rallied Tuesday, the first day of the second quarter, on news that two banks slammed by the credit crisis are working to raise cash and that U.S. manufacturing is faring better than expected. The Dow Jones industrial average soared more than 200 points.

    Investors were pleased to hear that Swiss bank UBS AG said it will issue up to $15 billion in new stock and that its chairman, Marcel Ospel, had quit. Investors chose to look past the bank's announcement that it will take a fresh $19 billion write-down due to additional declines in the value of its mortgage assets and other credit instruments, following an $18 billion write-down last year.

    UBS's decision to issue new stock arrived on the heels of a similar announcement by Lehman Brothers Holdings Inc. late Monday. The U.S. investment bank said it would sell 3 million convertible preferred shares due to "investor interest."

    The pair of announcements buttressed the view that financial services companies are taking aggressive action to improve their capital bases. Shares of both UBS and Lehman surged Tuesday along with the rest of the financial sector. UBS's U.S. shares rose $2.99, or 10%, to $31.79, and Lehman rose $3.47, or 9%, to $41.11.

    Meanwhile, Wall Street got another boost when the Institute for Supply Management said its March index of national manufacturing activity rose to a reading of 48.6 — indicating a contraction, but a slower one than in February and tamer than many analysts had predicted.

    Government data on construction spending for February also came in better than expected. The average economist was anticipating a drop of about 1 percent; instead, construction spending fell 0.3% in February compared to January.

    The Dow Jones industrial average rose 217.48, or 1.77%, to 12,480.37.

    Broader stock indicators also gained sharply. The Standard & Poor's 500 index rose 21.96, or 1.66%, to 1,344.66, and the Nasdaq composite index rose 40.57, or 1.78%, to 2,319.67.

    Treasury bonds fell as investors pulled their money out of the safety of government securities and placed it into riskier assets. The 10-year Treasury note's yield, which moves opposite its price, rose to 3.52% from 3.43% late Monday.

    On Monday, Wall Street had managed a moderate gain in the final session of a dismal first quarter. Stocks prices and the major indexes ended the first three months of 2008 with massive losses, the casualties of the still continuing credit crisis. It was the worst quarter for the major indexes since the third quarter of 2002, when Wall Street was approaching the lowest point of a protracted bear market.

    The stock market appeared revived on Tuesday, however.

    In addition to optimism about the financial sector, Wall Street was relieved to see the feeble dollar regain some strength against the euro. The euro fell to $1.5596 from $1.5785 late Monday in New York.

    Investors also found solace in retreating commodities prices. Crude oil fell by $1.45 to $100.13 a barrel on the New York Mercantile Exchange, while gold dropped back below $900 an ounce.

    The Russell 2000 index of smaller companies rose 10.29, or 1.50 percent, to 698.26.

    Advancing issues outnumbered decliners by about 4 to 1 on the New York Stock Exchange.

    In overseas trade, Tokyo's Nikkei closed up 1.04%. There were gains in Europe too, with London's FTSE rising 1.50%, Frankfurt's DAX gaining 2.02% and Paris' CAC 40 advancing 2.02%.

  5. #35
    Unregistered Guest

    Default Re: HDB and private property prices up in Q1 flash estimates

    Sentiment is the key factor. People are waiting for prices to drop and buy when bottom out but in reality majority will not catch it and miss. Even if there is a dip due to sentiment the rebound would bring prices to higher level.

  6. #36
    Unregistered Guest

    Default Re: HDB and private property prices up in Q1 flash estimates

    The talk of whether property market going up or down depends on whether one is vested or not. The way the news is presented matters a great deal. One can chose to focus on the small growth rather than the sharp dip. It's all a matter of interpretation. Do no one good if news presented sounds gloomy. Whether the glass if half full or half empty, everyone is correct.

  7. #37
    Unregistered Guest

    Default Re: HDB and private property prices up in Q1 flash estimates

    Quote Originally Posted by Unregistered
    The talk of whether property market going up or down depends on whether one is vested or not. The way the news is presented matters a great deal. One can chose to focus on the small growth rather than the sharp dip. It's all a matter of interpretation. Do no one good if news presented sounds gloomy. Whether the glass if half full or half empty, everyone is correct.
    I don't care how the news is presented.
    I just want the facts.

    If I buy something for $1, I want to know if its price go up by 4% or go down by 4%.
    If go up by 4%, it is worth $1.04.
    If go down by ....

  8. #38
    AFP Guest

    Default German Unemployment Rate Falls: Official Data


    German unemployment rate falls: official data
    Agence France-Presse
    Berlin, Germany
    Tuesday, 1 April 2008, 10:53AM CET

    The number of unemployed in Germany fell by 110,000 to 3.5 million people in March owing to improving economic conditions and seasonal effects, the national labour office said on Tuesday.

    The jobless rate fell 0.2 percentage points from its level in February to 8.4%.

    Compared to March 2007 the number of jobless fell by 617,000.

    Adjusted for the usual rise in employment in spring, the number of people out of work fell by 55,000, it said, better than a fall of 40,000 forecast by economists in a survey by Thomson Financial.

    The number was nonetheless weaker than the monthly average since September, when roughly 67,000 people were removed from the jobless list.

    The labour office itself noted that "a drop in March is normal as spring arrives, but the fall is not quite as strong as last year."

    Its president Frank-Josef Weise estimated that "employment continues to grow and business demand for labour remains strong."

    Two schools of thought are currently debating the direction in which German employment is likely to go in the coming months.

    Optimists lead by Economy Minister Michael Glos hope to see the country reach full employment within ten years.

    The pessimistic view was demonstrated Monday by a study in the Frankfurter Allgemeine Zeitung newspaper, which studied announcements concerning the creation or elimination of 100 jobs or more during the first quarter of the year.

    Major companies were found to have unveiled almost twice as many job cuts as creations, the newspaper found.

    But its results were contested by certain economists who note that small- and medium-sized enterprises that form the backbone of German industry continue to hire without making headlines, whereas the media gives major coverage to job cuts by high-profile German companies.

    "The latest figures indicate that the German labor market is on a roll - at least for the time being," said Andreas Rees, chief German economist at UniCredit Markets.

    "We expect the demand for labor to be strong in the months ahead," he added.

    "A deceleration will probably kick in only in autumn or even later this year."

  9. #39
    AFP Guest

    Default Eurozone Official Unemployment Rate Steady At Record Low


    Eurozone official Unemployment rate steady at Record Low
    Agence France-Presse
    Brussels, Belgium
    Tuesday, 1 April 2008, 10:57AM CET


    A construction site in the north of Madrid. Unemployment in the 15 nations sharing the Euro has held steady in February at a record low of 7.1% despite slowing economic activity, official European Union data has showed. - Photo: Philippe Desmazes, AFP

    Unemployment in the 15 nations sharing the euro held steady in February at a record low point of 7.1% despite slowing economic activity, official European Union data showed on Tuesday.

    Although rate, which the EU's Eurostat data agency adjusted to account for seasonal variations, was the lowest on its books going back to 1993, economists said the labour market recovery unlikely to go much farther.

    "In all, the latest unemployment figures are broadly encouraging," economist Jennifer McKeown at consultants Capital Economics.

    "But given clear evidence of a slowdown elsewhere in the economy, and the recent softening of survey measures of hiring intentions, it seems likely that the eurozone labour market recovery is close to a peak," she added.

    Although the eurozone economy has lost pace over the past year, unemployment has so far maintained a gradual decline in the bloc. The jobless rate was down from 7.6% in February 2007.

    Long a major headache for eurozone politicians, unemployment in the eurozone has gradually eased in recent years since peaking at 9.1% of the workforce in March 2005.

    Looking ahead, economist Howard Archer at consultants Global Insight said that the employment situation was likely to deteriorate in the coming months as the broader economy slowed.

    "Unemployment is a lagging indicator and we suspect that slowing eurozone growth and weaker business confidence will increasingly weigh down on labour markets over the coming months," he said.

    In one of the latest signs if weakness, manufacturing activity slowed in March to the lowest level since October, according to a widely watched purchasing managers index on Tuesday.

    In the 27-nation EU as a whole, the unemployment rate dipped 6.7% in February, down from 6.8% in January 2007 and 7.4% in February 2007, according to Eurostat.

    The EU's statistics office estimated that 16.0 million workers were without a job throughout the EU, including 10.9 million in the eurozone.

  10. #40
    Unregistered Guest

    Default Re: HDB and private property prices up in Q1 flash estimates

    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.

  11. #41
    Unregistered Guest

    Default Re: HDB and private property prices up in Q1 flash estimates

    Quote Originally Posted by Unregistered
    Sentiment is the key factor. People are waiting for prices to drop and buy when bottom out but in reality majority will not catch it and miss. Even if there is a dip due to sentiment the rebound would bring prices to higher level.
    This is the wisest saying. People are too short sighted. To each his own, these people may be able to buy lower, but until then they have to pay the price of anticipation. If their expectations don't come true, it's all but wasted time and energy. Then after they have bought, they will keep comparing around to assure themselves that theirs was the best timed deal. Otherwise, they continue to feel gloomy because they didnt catch the bottom.

  12. #42
    mr funny is offline Any complaints please PM me
    Join Date
    May 2006
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    8,129

    Default Re: HDB and private property prices up in Q1 flash estimates

    Singapore home prices rise at slower pace in first quarter

    By Wong Siew Ying, Channel NewsAsia | Posted: 01 April 2008 2320 hrs


    SINGAPORE: Prices of HDB resale flats rose 3.4 percent in the January to March period over the previous three months, according to flash estimates released by the HDB. The increase was lower than the 5.7 percent pace in the fourth quarter.

    The slower rise in resale flat prices comes as no surprise to industry watchers who attribute it to the cautious sentiment in the overall property market.

    They say buyers are not willing to fork out high cash over valuation, in view of the additional supply of flats in the pipeline.

    So going by the current market sentiments, property agents say a 10 percent price increase for HDB resale flats this year is unlikely. Prices for HDB resale flats rose 17.5 percent last year.

    But the showing for the first quarter isn't bad, say property agents.

    Ku Swee Yong, Savills' director for international marketing, said: "Year on year, it (Q1 2008 Resale Price Index) is still up about 21 points, which is about 20% growth... that's pretty strong. Buyers are still willing to pay above S$10,000 cash over valuation. That also represents very solid real demand..."

    The slowdown in price increases in the private residential sector is also more noticeable in the first quarter this year. Prices rose 4.2 percent, compared to 6.8 percent in the last quarter.

    The dip in private home price gains is the biggest quarterly drop in more than seven years since the third quarter of 2000 when prices fell by over 4 percent.

    Market watchers say thin sales volumes in the quarter and developers' resistance to cutting prices may have helped sustain the price increases.

    Cushman & Wakefield's Donald Han said: "It's quite encouraging on the basis that we had very low volume in terms of transaction numbers for the first quarter, something like over 800 units were transacted in the first quarter compared to the average of 3,000 to 4,000 sold in 2007 on a per quarter basis."

    The slowdown in price gains was seen across all districts in Singapore, covering the high-end as well as the mass market segments.

    According to the URA, prices of non-landed private residential properties increased by 4.4% on quarter in the core central region in the first quarter, slower than a 7.5% increase in the previous three months.

    Prices of properties in the rest of the central region increased by 3.9% in the quarter, compared with a 7.7% increase in the previous period. Outside the central region, prices increased by 4.8%, slower than a 7% rise previously.

    Analysts expect transaction volume of residential properties to be thin for the next three to six months and price increases to be moderate in the next quarter.

    Donald Han, managing director of Cushman & Wakefield (Singapore), forecasts a 3% to 4% rise in the next quarter.

    He expects the property market to be active again, probably towards the later half of this year when stability returns to the credit crunch market.

    On the rental market, analysts say it will continue to perform well in view of the large influx of foreign workers to be expected in Singapore when the two integrated resorts are ready in the next two years. - CNA/ir

  13. #43
    Unregistered Guest

    Default Re: HDB and private property prices up in Q1 flash estimates

    Quote Originally Posted by Unregistered
    Sour Grape Ignorance 8 Detected! Beep! Beep! Beep!

    Unsold = Not yet sold

    Unsold ≠ Cannot be sold

    If you go to IKEA, you will see that they have tables UNSOLD, chairs UNSOLD, cupboards UNSOLD ...?

    Try telling IKEA that since they have so many things UNSOLD, and there are no takers my friend, then may as well sell everything to you at 20% discount.

    At any point in time, there will be some properties in the market which are unsold.

    Furthermore, these are units in the pipeline and not even completed yet.

    Can you imagine what will happen if the situation were "No units UNSOLD. All projects in the pipeline up to 2011 have been sold"?

    Prices will shoot to infinity.

    Now let's look at ChannelNewsAsia 27 February 2008.

    'According to the figures, more foreigners have decided to call Singapore home for good.

    Last year, Singapore saw over 63,000 new PRs, an 11-per-cent increase from 2006; and the city-state also welcomed more than 17,000 new citizens, a 30-per-cent jump.'


    Every single year, we are getting 63,000 new PRs and 17,000 new citizens, a total of 80,000 people settling into Singapore.

    Many of these are high-earners and professionals, but even if you assume that the proportion of them able to afford private housing is similar to Singaporean's demographic profile, i.e. 15%, that's 12,000 per year.

    In four years, the demand is 48,000, which more than absorbs all the 38,300 units that are coming up in the pipeline up till 2011 !

    Wait!

    Then what about Singaporeans leh?

    Singaporeans no need to buy properties meh?

    And what about my auntie from KL who likes to collect properties everytime her doctor husband earns enough money? (Which I counted so far is about one property every year, either near KLCC or Singapore property).

    She's not going to become a Singapore citizen or PR but she also wants to buy our properties.

    Let me tell you ... there is a very severe shortage coming up.
    Pity your thinking moron. Feel ashamed.

  14. #44
    CSR Police Guest

    Default Re: HDB and private property prices up in Q1 flash estimates

    Quote Originally Posted by Unregistered
    Pity your thinking moron. Feel ashamed.

  15. #45
    Unregistered Guest

    Default Re: HDB and private property prices up in Q1 flash estimates

    Coupled with high inflation and low interest rate, resulted negative interest-rate scenario. Effectively, if you have a loan, the Bank is now paying you, rather than the other way around! That is, you will pay back your loan in future, inclusive of interest, with less real money than the loan is worth today.

    The best way to enjoy this win scenario at this moment is to engage a motgage, i.e. to buy a property.

    However, this scenario also implies financial instability/unhealthy. So, don't over committed unless you are very confident with singapore fundamental.

    Gook luck!

  16. #46
    Reuters Guest

    Default FTSE Adds 2.6% On Writedown Relief Rally


    FTSE adds 2.6% on writedown relief rally
    Michael Taylor
    Reuters
    London, U.K.
    Tuesday, 1 April 2008, 4:27PM WET

    Britain's top share index ended sharply higher on Tuesday, entering the second quarter in buoyant mood as financials jumped on hopes that European bank writedowns signalled that the worst was over for the sector.

    The FTSE 100 ended up 2.6%, or 150.5 points, at 5,852.6.

    European heavyweight banks UBS and Deutsche Bank both gained after taking big hits on their risky assets -- $19 billion for UBS and $3.9 billion for Deutsche -- which gave their British counterparts a fillip.

    Barclays, HBOS, Royal Bank of Scotland and Alliance & Leicester all jumped between 6 and 8%.

    "It's certainly been a bumper start to the month and the quarter for equities," said Jimmy Yates, a dealer at CMC Markets. "A lot of positive sentiment is coming out from the fact UBS's new credit writedown is widely hoped to be drawing a line under the recent troubles in the U.S. housing market."

    In the previous session, the UK index sealed its worst quarterly performance in more than five years, declining 11.7% in the first three months.

    "An equally bullish start on Wall Street after the release of some slightly stronger-than-expected economic data is helping lock in gains," added CMC's Yates.

    Across the Atlantic, U.S. stocks rallied after Lehman Brothers helped restore confidence in financials after it said it raised $4 billion in a convertible preferred stock offering to bolster its balance sheet.

    The Institute for Supply Management said its manufacturing index for March was stronger than forecast.

    The gauge rose to 48.6 in March from 48.3 in February and was closer than expected to the 50 mark, above which signals expansion.

    Astra Boost

    Pharmaceuticals notched up strong gains, with AstraZeneca advancing 6.9% after two brokerages hiked sales forecasts for the Anglo-Swedish group's Crestor drug, which is emerging as a potential big winner in the fiercely competitive anti-cholesterol market.

    JPMorgan upgraded the group to "neutral" from "underweight".

    GlaxoSmithKline tacked on 4.6%.

    Retail stocks also climbed, with Kingfisher up 7.8%, Next adding 6.8%, and Home Retail Group 7.5% higher, as traders cited short-squeezing.

    "It's short-squeezing for the whole retail sector. UBS spooked a few quick-money boys this morning. The retail sector has been one of the sectors where people have been running short," said a trader.

    Shares in Friends Provident surged 7.4% on hopes of more bid approaches, extending gains from the previous session when it rejected a bid offer from U.S. private equity firm JC Flowers.

    Among midcaps, gambling companies featured among gainers, with both PartyGaming and Rank up 8.4 and 9.9%, respectively, as traders cited persistent bid talk after earlier newspaper reports.

    Malaysia-based gaming group Genting, which has a significant stake in British casino, bingo and online betting company Rank, has again been mentioned as a possible suitor for Rank, traders say. Rank and representatives for Genting in London declined to comment.

    On the downside, miners lost ground as precious and base metal prices fell. Antofagasta shed 1.5%, Lonmin dipped 2.4%, and Xstrata dropped 1.5%.

    U.S. crude CLc1 dipped below $100 a barrel, extending losses from the previous session as a strengthening U.S. dollar triggered a wide sell-off across commodity markets.

    BP was flat, and BG Group was 2% lower.

  17. #47
    Unregistered Guest

    Default Re: HDB and private property prices up in Q1 flash estimates

    The sour grapes are barking up the wrong sour grape tree.

    They think that the coming TOP of large numbers of completion units will cause prices to fall.

    Let me point out why it will not.

    Simply, because, these units were bought three years ago and they were very cheap.

    So the investors borrowed very little from the bank actually. Now the property is worth much much more. The rental yield is much higher than the mortgage interest.

    I use myself as illustration. I bought a unit for only $500,000. Now it is worth $900,000. Not yet TOP, but it is expected to fetch a rental yield of around 5% based on the $900,000 price, but I bought it for $500,000, remember.

    So that's 9% yield for me, and I am paying the bank only 3% interest a year.

    Even if the rental falls due to more supply (which I doubt so because the demand from foreigners and immigrants is very strong), there's no way it can go below my mortgage interest repayment.

    Remember ... I borrowed very little money from the bank ... because the property was very cheap three years ago.

    So I look forward to the coming TOP.

    ps. another reason I look forward to the TOP is because I have a fetish for new condos. They're very nice and smell nice and look nice and feel nice.

  18. #48
    Unregistered Guest

    Default Re: HDB and private property prices up in Q1 flash estimates

    Quote Originally Posted by Unregistered
    The sour grapes are barking up the wrong sour grape tree.

    They think that the coming TOP of large numbers of completion units will cause prices to fall.

    Let me point out why it will not.

    Simply, because, these units were bought three years ago and they were very cheap.

    So the investors borrowed very little from the bank actually. Now the property is worth much much more. The rental yield is much higher than the mortgage interest.

    I use myself as illustration. I bought a unit for only $500,000. Now it is worth $900,000. Not yet TOP, but it is expected to fetch a rental yield of around 5% based on the $900,000 price, but I bought it for $500,000, remember.

    So that's 9% yield for me, and I am paying the bank only 3% interest a year.

    Even if the rental falls due to more supply (which I doubt so because the demand from foreigners and immigrants is very strong), there's no way it can go below my mortgage interest repayment.

    Remember ... I borrowed very little money from the bank ... because the property was very cheap three years ago.

    So I look forward to the coming TOP.

    ps. another reason I look forward to the TOP is because I have a fetish for new condos. They're very nice and smell nice and look nice and feel nice.
    You are barking from the wrong nut tree. Nobody said that buying property three years ago was bad. In fact it was good and many people have sold out already.

    It carries more risk to buy now at current high prices because there could be a correction coming. Interest may be low but the new condo with TOP in 2011 could end up as negative equity.

    Even Bravo is letting go of their enbloc acquisition.

  19. #49
    Unregistered Guest

    Default Re: HDB and private property prices up in Q1 flash estimates

    Quote Originally Posted by Unregistered
    The sour grapes are barking up the wrong sour grape tree.

    They think that the coming TOP of large numbers of completion units will cause prices to fall.

    Let me point out why it will not.

    Simply, because, these units were bought three years ago and they were very cheap.

    So the investors borrowed very little from the bank actually. Now the property is worth much much more. The rental yield is much higher than the mortgage interest.

    I use myself as illustration. I bought a unit for only $500,000. Now it is worth $900,000. Not yet TOP, but it is expected to fetch a rental yield of around 5% based on the $900,000 price, but I bought it for $500,000, remember.

    So that's 9% yield for me, and I am paying the bank only 3% interest a year.

    Even if the rental falls due to more supply (which I doubt so because the demand from foreigners and immigrants is very strong), there's no way it can go below my mortgage interest repayment.

    Remember ... I borrowed very little money from the bank ... because the property was very cheap three years ago.

    So I look forward to the coming TOP.

    ps. another reason I look forward to the TOP is because I have a fetish for new condos. They're very nice and smell nice and look nice and feel nice.
    Wah can buy so cheap condo 500K one. Afterall hawker what. Cannot dream of dist.10.

  20. #50
    Unregistered Guest

    Default Re: FTSE Adds 2.6% On Writedown Relief Rally

    Quote Originally Posted by Reuters

    FTSE adds 2.6% on writedown relief rally
    Michael Taylor
    Reuters
    London, U.K.
    Tuesday, 1 April 2008, 4:27PM WET

    Britain's top share index ended sharply higher on Tuesday, entering the second quarter in buoyant mood as financials jumped on hopes that European bank writedowns signalled that the worst was over for the sector.

    The FTSE 100 ended up 2.6%, or 150.5 points, at 5,852.6.

    European heavyweight banks UBS and Deutsche Bank both gained after taking big hits on their risky assets -- $19 billion for UBS and $3.9 billion for Deutsche -- which gave their British counterparts a fillip.

    Barclays, HBOS, Royal Bank of Scotland and Alliance & Leicester all jumped between 6 and 8%.

    "It's certainly been a bumper start to the month and the quarter for equities," said Jimmy Yates, a dealer at CMC Markets. "A lot of positive sentiment is coming out from the fact UBS's new credit writedown is widely hoped to be drawing a line under the recent troubles in the U.S. housing market."

    In the previous session, the UK index sealed its worst quarterly performance in more than five years, declining 11.7% in the first three months.

    "An equally bullish start on Wall Street after the release of some slightly stronger-than-expected economic data is helping lock in gains," added CMC's Yates.

    Across the Atlantic, U.S. stocks rallied after Lehman Brothers helped restore confidence in financials after it said it raised $4 billion in a convertible preferred stock offering to bolster its balance sheet.

    The Institute for Supply Management said its manufacturing index for March was stronger than forecast.

    The gauge rose to 48.6 in March from 48.3 in February and was closer than expected to the 50 mark, above which signals expansion.

    Astra Boost

    Pharmaceuticals notched up strong gains, with AstraZeneca advancing 6.9% after two brokerages hiked sales forecasts for the Anglo-Swedish group's Crestor drug, which is emerging as a potential big winner in the fiercely competitive anti-cholesterol market.

    JPMorgan upgraded the group to "neutral" from "underweight".

    GlaxoSmithKline tacked on 4.6%.

    Retail stocks also climbed, with Kingfisher up 7.8%, Next adding 6.8%, and Home Retail Group 7.5% higher, as traders cited short-squeezing.

    "It's short-squeezing for the whole retail sector. UBS spooked a few quick-money boys this morning. The retail sector has been one of the sectors where people have been running short," said a trader.

    Shares in Friends Provident surged 7.4% on hopes of more bid approaches, extending gains from the previous session when it rejected a bid offer from U.S. private equity firm JC Flowers.

    Among midcaps, gambling companies featured among gainers, with both PartyGaming and Rank up 8.4 and 9.9%, respectively, as traders cited persistent bid talk after earlier newspaper reports.

    Malaysia-based gaming group Genting, which has a significant stake in British casino, bingo and online betting company Rank, has again been mentioned as a possible suitor for Rank, traders say. Rank and representatives for Genting in London declined to comment.

    On the downside, miners lost ground as precious and base metal prices fell. Antofagasta shed 1.5%, Lonmin dipped 2.4%, and Xstrata dropped 1.5%.

    U.S. crude CLc1 dipped below $100 a barrel, extending losses from the previous session as a strengthening U.S. dollar triggered a wide sell-off across commodity markets.

    BP was flat, and BG Group was 2% lower.
    DEAD CAT BOUNCE. DONT BE SUCKED IN.

  21. #51
    Unregistered Guest

    Default Re: HDB and private property prices up in Q1 flash estimates

    Quote Originally Posted by Unregistered
    The sour grapes are barking up the wrong sour grape tree.

    They think that the coming TOP of large numbers of completion units will cause prices to fall.

    Let me point out why it will not.

    Simply, because, these units were bought three years ago and they were very cheap.

    So the investors borrowed very little from the bank actually. Now the property is worth much much more. The rental yield is much higher than the mortgage interest.

    I use myself as illustration. I bought a unit for only $500,000. Now it is worth $900,000. Not yet TOP, but it is expected to fetch a rental yield of around 5% based on the $900,000 price, but I bought it for $500,000, remember.

    So that's 9% yield for me, and I am paying the bank only 3% interest a year.

    Even if the rental falls due to more supply (which I doubt so because the demand from foreigners and immigrants is very strong), there's no way it can go below my mortgage interest repayment.

    Remember ... I borrowed very little money from the bank ... because the property was very cheap three years ago.

    So I look forward to the coming TOP.

    ps. another reason I look forward to the TOP is because I have a fetish for new condos. They're very nice and smell nice and look nice and feel nice.
    Haha smart ones are the ones who cash out and not sit on paper profit. It can go negative as many have experienced during the last decade. Dont bullshit on IR and F1 to justify holding.

  22. #52
    Unregistered Guest

    Default Re: HDB and private property prices up in Q1 flash estimates

    Quote Originally Posted by Unregistered
    You are barking from the wrong nut tree. Nobody said that buying property three years ago was bad. In fact it was good and many people have sold out already.

    It carries more risk to buy now at current high prices because there could be a correction coming. Interest may be low but the new condo with TOP in 2011 could end up as negative equity.

    Even Bravo is letting go of their enbloc acquisition.
    Afterall hawker selling sour grape juice. where he got brains to think. is as good as counting your chickens before they hatch as bravo soon found out.

  23. #53
    Unregistered Guest

    Default Re: HDB and private property prices up in Q1 flash estimates

    Quote Originally Posted by Unregistered
    The sour grapes are barking up the wrong sour grape tree.

    They think that the coming TOP of large numbers of completion units will cause prices to fall.

    Let me point out why it will not.

    Simply, because, these units were bought three years ago and they were very cheap.

    So the investors borrowed very little from the bank actually. Now the property is worth much much more. The rental yield is much higher than the mortgage interest.

    I use myself as illustration. I bought a unit for only $500,000. Now it is worth $900,000. Not yet TOP, but it is expected to fetch a rental yield of around 5% based on the $900,000 price, but I bought it for $500,000, remember.

    So that's 9% yield for me, and I am paying the bank only 3% interest a year.

    Even if the rental falls due to more supply (which I doubt so because the demand from foreigners and immigrants is very strong), there's no way it can go below my mortgage interest repayment.

    Remember ... I borrowed very little money from the bank ... because the property was very cheap three years ago.

    So I look forward to the coming TOP.

    ps. another reason I look forward to the TOP is because I have a fetish for new condos. They're very nice and smell nice and look nice and feel nice.
    Wah have to borrow even to buy a 500K shack?

  24. #54
    AP Guest

    Default Bank News And Economic Data Boosts Stocks To A Big Rally


    Bank news and economic data boosts stocks to a big rally
    Joe Bel Bruno
    Business Writer
    Associated Press
    New York, New York, U.S.
    Tuesday, 1 April 2008, 7:31PM U.S. EDT


    Traders work on the floor of the New York Stock Exchange April 1, 2008. U.S. stocks extended gains on Tuesday, lifting the benchmarks S&P 500 and the NASDAQ up more than 3% as Lehman Brothers Holdings Inc.'s move to bolster its balance sheet calmed worries about the financial sector's stability. - Photo: Brendan McDermid, AP

    Wall Street began the second quarter with a big rally Tuesday as investors rushed back into stocks, optimistic that the worst of the credit crisis has passed and that the economy is faring better than expected. The Dow Jones industrials surged nearly 400 points, and all the major indexes were up more than 3%.

    Financial stocks were among the big winners after Lehman Brothers Holdings Inc. and Switzerland's UBS AG issued new shares to help bolster their balance sheets. With that upbeat news and a fresh quarter ahead of them, investors appear quite willing to make some bets that the worst of the damage from the nation's credit struggles has been felt. Moreover, the banks' moves buttressed the view that financial services companies are taking aggressive action to improve their capital bases and stave off the potential of a collapse similar to Bear Stearns Cos.

    Analysts believe there must be a recovery in bank and brokerages to lead major stock indexes higher. Some of the biggest financial players had their sharpest moves of the year Tuesday — Citigroup Inc. shot up 11%, JPMorgan Chase & Co. rose 9%, and Lehman surged 18%.

    "Investors have a difficult time making decisions about the stock market if they don't have confidence in major financial institutions, so there's been a lot of sideline cash," said Richard Cripps, chief market strategist for Stifel Nicolaus. "The extreme conditions that we've seen here over the past few months has been missing that confidence ... but that appears to be changing, and we're seeing the response."

    Meanwhile, Wall Street got another boost when the Institute for Supply Management said its March index of national manufacturing activity rose to a reading of 48.6 — indicating a contraction, but a slower one than in February and tamer than many analysts had predicted. Government data on construction spending for February also came in better than expected.

    The Dow rose 391.47, or 3.19 percent, to 12,654.36. It marked the eighth-biggest point gain ever for the Dow, and the third time in two weeks it came close to or surpassed 400 points.

    Broader stock indicators also gained sharply. The Standard & Poor's 500 index rose 47.48, or 3.59%, to 1,370.18 — the index's best start to a second quarter since 1938. And, the Nasdaq composite index rose 83.65, or 3.67%, to 2,362.75.

    The advance was in contrast to a lackluster session on Monday, where stocks managed a moderate gain in the final session of a dismal first quarter. Major indexes ended the first three months of 2008 with massive losses, marking the worst period since the third quarter of 2002 when Wall Street was approaching the lowest point of a protracted bear market.

    Renewed enthusiasm that the credit crisis might be waning was also felt in the Treasury market, where government securities fell as investors withdrew money to take bets on stocks. The 10-year Treasury note's yield, which moves opposite its price, rose to 3.55% from 3.43% late Monday. The yield edged up to 3.56% in after-hours trading.

    In addition to hopes about the financial sector, Wall Street was relieved to see the feeble dollar regain some strength against the euro. The euro fell to $1.5596 from $1.5785 late Monday in New York.

    And there was also optimism that commodities prices, which have hit historic highs in recent months, have begun to retreat. Crude fell 60 cents to settle at $100.98 on the New York Mercantile Exchange after earlier falling below $100. Meanwhile, gold dropped back below $900 an ounce.

    "This is a nice way to begin the second quarter," said Todd Leone, managing director of equity trading at Cowen & Co. "All the financials are up big, and there's a sense that things are turning. We definitely have not seen the last of the credit crisis, but we're getting closer."

    The stock rally was underpinned by the announcements from UBS and Lehman Brothers that they are boosting capital by issuing new stock. Shares of banks and brokerages hovered near multiyear lows in recent months as investors feared heavy losses from investments tied to subprime mortgages would be overwhelming.

    Earlier this month, widespread concerns about Bear Stearns' financial position forced the investment bank to sell itself to JPMorgan in a deal engineered by the Federal Reserve — and that stoked fears that other investment houses might follow.

    JPMorgan rose $4.05, or 9.4%, to $47; while Bear Stearns was up 36 cents, or 3.4%, to $10.85 — slightly above the $10 per share acquisition price.

    UBS, one of Europe's biggest banks, said it will issue up to $15 billion in new stock and that its chairman, Marcel Ospel, had quit. Investors chose to look past the bank's announcement that it will take a fresh $19 billion write-down due to additional declines in the value of its mortgage assets and other credit instruments, following an $18 billion write-down last year. Its shares surged $4.21, or 14.6%, to $33.01 in trading on the New York Stock Exchange.

    Lehman Brothers, dogged by speculation it might reveal losses big enough to cripple the company, on Tuesday raised $4 billion of capital to stymie questions about its financial stability. Lehman rose $6.70, or 17.8%, to $44.34.

    The Russell 2000 index of smaller companies rose 22.68, or 3.30%, to 710.65.

    Advancing issues outnumbered decliners by about 4 to 1 on the New York Stock Exchange, where consolidated volume came to a heavy 4.65 billion shares, compared to 4.02 billion on Monday.

    In overseas trade, Tokyo's Nikkei closed up 1.04%. There were gains in Europe too, with London's FTSE rising 2.64%, Frankfurt's DAX gaining 2.84% and Paris' CAC 40 advancing 3.38%.

  25. #55
    Unregistered Guest

    Default Re: HDB and private property prices up in Q1 flash estimates

    Quote Originally Posted by 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 support U. Anyway, what is the point of selling (with samll bank loan) if I can only get a mere 1% interest on FD?

  26. #56
    Unregistered Guest

    Default Re: HDB and private property prices up in Q1 flash estimates

    #55, agree with you. In fact time for you to buy even more. Whatever that has gone up will never come down. Compared to London, NY and elsewhere, Singapore properties are still very, very cheap.

  27. #57
    Join Date
    Jun 2007
    Location
    D15
    Posts
    5,095

    Default Re: HDB and private property prices up in Q1 flash estimates

    Quote Originally Posted by 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 agree. Inflation is a big issue now. If we don't use property to hedge asset value like the past 50 years, what are we going to do ?

  28. #58
    Unregistered Guest

    Default Re: HDB and private property prices up in Q1 flash estimates

    Quote Originally Posted by Unregistered
    #55, agree with you. In fact time for you to buy even more. Whatever that has gone up will never come down. Compared to London, NY and elsewhere, Singapore properties are still very, very cheap.
    CHIP CHIP See below.
    April 2, 2008, The Straits Times
    Property market may stay quiet for up to a year
    Home prices, sales could remain weak as US sub-prime concerns linger
    By Fiona Chan, Property Reporter

    A MONTH ago, property consultants were predicting that the cooling market would pick up after June. That optimism has fast drained away.
    Consultants now expect home prices and sales to remain weak for up to a year from now, after official estimates yesterday confirmed that price growth was tapering off.

    'We can expect residential prices to continue weakening over the next 12 months', in the light of the United States sub-prime debacle and an expected US recession, said Jones Lang LaSalle (JLL). Other consultancies, such as CB Richard Ellis Research, believe price growth will slow further in the second quarter, to '1 per cent or 2 per cent'.

    Home sales are also plunging as buyers retreat - and they are expected to stay low as sellers dig in their heels to wait out the slowdown. New home sales were likely to have dropped in the first quarter to one of the lowest levels ever, second only to those recorded during the Sars period.

    In the secondary market, sales have fallen to 2005 levels, according to estimates from Savills Singapore. Mid-tier private properties on the city fringe, such as in Novena, Toa Payoh, Marine Parade and Queenstown, are likely to be hardest hit by falling buyer demand. These areas saw the biggest slowdown in price growth in the first 10 weeks of the year, suggesting that prices in these regions may be peaking, said JLL. Buyers in these areas have shallower pockets and are more sensitive to market sentiment, it added.

    In the HDB segment, prices have stabilised at about $50,000 cash over valuation or less, said Mr Eugene Lim, assistant vice-president at ERA Realty Network. 'Resale flats priced higher than that take much longer to sell or may not sell at all.'

    Phillip Securities Research, meanwhile, aired concerns over the 'huge supply' of homes due to be completed in the next two years. Supply is 'expected to exceed the demand from buyers and result in a slide in local property prices from 2010', it said. HDB plans to release another 5,000 new build-to-order flats in the next six months. There are also 64,900 private homes in the pipeline, of which 90 per cent will be completed by 2011, while 60 per cent have yet to be sold.

    Most experts believe, however, that confidence and demand will return by year-end - as long as the Singapore economy stays robust. 'Sellers now take a while to sell their homes, but there are still buyers,' said Mr Eric Cheng, the executive director of HSR property group. 'Last year, it took maybe a month to sell a home. Now, it takes two months. But in 2000 or 2002, it took a year,' he said.

  29. #59
    Unregistered Guest

    Default Re: HDB and private property prices up in Q1 flash estimates

    Quote Originally Posted by Unregistered
    You are barking from the wrong nut tree. Nobody said that buying property three years ago was bad. In fact it was good and many people have sold out already.

    It carries more risk to buy now at current high prices because there could be a correction coming. Interest may be low but the new condo with TOP in 2011 could end up as negative equity.

    Even Bravo is letting go of their enbloc acquisition.
    Who tell you that the current ppty prices are high? That's a wrong perception.

    Check out our stock market today. The STI is transacted at above 3000 mark these days. Is that high since it was only below 2000 mark a year ago? Of course not. In fact, we all had witnessed that our stock market had hit nearly 4000 mark couple months ago. But, we never heard ppl complain our stock market was too high. So, why ppl still think our ppty prices are high? Ridiculous!

    As a matter of fact, our ppty prices today are still below it's historical high in the 90's. So, how can it be considered high, compared to what have been achieved in the stock market?

  30. #60
    Unregistered Guest

    Default Re: HDB and private property prices up in Q1 flash estimates

    Quote Originally Posted by Unregistered
    You are barking from the wrong nut tree. Nobody said that buying property three years ago was bad. In fact it was good and many people have sold out already.

    It carries more risk to buy now at current high prices because there could be a correction coming. Interest may be low but the new condo with TOP in 2011 could end up as negative equity.

    Even Bravo is letting go of their enbloc acquisition.
    You are right. It's the new condos with TOP in 2011 that could end up with negative equity.

    That's why I am suggesting to all the sour grapes to take a three-year vacation and come back again in 2011 to frighten those people who have bought at a much higher price than me.

    Maybe they will be very scared because by then the sub-prime problem would have been in its third year? Or may be they are not scared? I don't know.

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