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Thread: HDB, private apartment rentals set to rise

  1. #61
    Unregistered Guest

    Default Re: HDB, private apartment rentals set to rise

    Quote Originally Posted by Unregistered
    I have some questions for Mr. Hong Kong Property Analyst, can you be my "messenger" as well.

    #1. ChannelNewsAsia on 27 February 2008 reported that "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 year, we have 63,000 + 17,000 = 80,000 new immigrants, that is not including foreigners who come here on employment pass (but not taking up citizenships or PRs).

    What do you mean "no demand for housing"? May I know where these 80,000 people are going to stay? Inside the canals?

    In case you are not familiar with Singapore, here is the news URL to our government broadcasting station regarding the news I quoted above.

    http://www.channelnewsasia.com/stori...331492/1/.html

    #2. ChannelNewsAsia reported on 10 August 2007 that Singapore's "Financial services expanded by 17 per cent in the second quarter, up from 14 per cent growth in the first quarter, while the construction sector grew by 18 per cent, the strongest growth in almost 10 years. Growth in the manufacturing sector picked up pace to 8.3 per cent."

    No matter how I calculate, I don't know how you arrived at the figure that "growth was 99% construction related."?

    In case you are not familiar with Singapore, here is the news URL to our government broadcasting station regarding the news I quoted above.

    http://www.channelnewsasia.com/stori...293171/1/.html

    #3. You said "The existing luxury housing vacancy levels in Singapore were adequate to fill the needs of Singaporeans and any possible influx of new senior executives for the next 5 years. Thus, there was no demand for executive luxury housing in the market."

    Then may I ask you what about this person called Jet Li?

    Your Hong Kong magazine wrote "Actor Jet Li moved to Singapore last year for his daughters’ education, reported Hong Kong’s Next Magazine recently ... he bought a S$7mil (RM16.1mil) unit at nearby Ardmore Park condominium."

    Is Jet Li a "senior executive" from some Multinational Company? Must luxury housing be only for "senior executives"?

    Is Jet Li's purchase of Armore Park luxury condominium illegal? Since he is not a "senior executive"?

    #4. Can you explain why our "projected growth of economy" is no good?

    A MasterCard International survey showed that"Being often touted recently as the next unexplored, potential-filled Asian emerging economy, Vietnam unsurprisingly registered, among the 13 nations surveyed, the highest score of 94.3 points in the MasterIndex of Consumer Confidence (MCC), which ranges from 0 to 100 points, with Taiwan posting the lowest at 29.7 points. Hong Kong came in second position with a score of 85.9 points, closely followed by China and Singapore, which posted 85.5 and 83.6 points, respectively." http://news.cens.com/cens/html/en/ne...ner_22113.html

    Singapore is ranked fourth, after Vietnam (94.3 points), Hong Kong (85.9 points), China (85.5 points) and Singapore (83.6 points).

    Singapore is ranked 4th and just 2.3 points behind Hong Kong as the next unexplored, potential-filled Asian emerging economy, why is that considered "no good"?

    #4 (You've got two points #4 and this is the second one) You said "Non of these new inhabitants will be buying or renting condo's, especially in the high-end."

    Then what about Dr. Sudhir Gupta, "Born in India, moved to Russia to get Ph.D. in agricultural chemistry. Started tire company in Moscow ... Escaped assassination attempt in Moscow 4 years ago; now shuttles between that city and Singapore, where he's a citizen.

    http://www.forbes.com/lists/2006/79/...upta_AHUD.html

    He bought a luxury bungalow at Binjai Park for $12.55 million and 22 apartments, including the 63rd-storey penthouse, in the second tower of The Sail @ Marina Bay condo for a total $31 million.

    Aren't these properties considered "high end", can you define what is meant by "high end"?

    #5. I don't understand your this statement at all "Singapore is not a supply/demand driven economy. It is a small, managed economy. Thus, the property development plans were lofty, risky, and not based on future real supply/demand realities."

    This statement totally confounds me so I need you to explain what you mean?

    #6. Why do you say that Singapore lacks "real, transparent, objective information available"?

    According to Jones Lang LaSelle report on Global Real Estates Transparency, "Highly Transparent countries for the first time in 2006 are Hong Kong, Sweden, France and Singapore, each having jumped to Tier 1 from Tier 2 since the 2004 survey."

    http://www.joneslanglasalle.com/en-G...kets+Trans.htm

    Singapore and Hong Kong both have been promoted from Tier 2 to Tier 1 as "Highly Transparent Countries", together with Sweden and France.

    So can you please explain your statement "There is a lack of real, transparent, objective information available in the Singapore market about the Singapore market."?

    #7. You predicted that "Global money supplies and markets are taking a beating and will continue to take a beating. The second call on the sub prime products happens this June so more big losses are expected. This will stall or even damage the Singapore economy."

    I want to ask, if you are so good at predicting, then last June (just before the sub-prime) did you go short-sell USD100 billion worth of US stock futures contracts through leveraged margin-trading account? Especially short Bear-Stearns shares, then you would be a multi-billionaire by now.

    Then why are you still working as a "Asia property analyst for a small successful private investment bank."?
    Good post..have a good grasp of Singapore real estate dynamics

  2. #62
    Unregistered Guest

    Default Re: HDB, private apartment rentals set to rise

    Quote Originally Posted by Unregistered
    HYPE HYPE HYPE. I AM GLAD THOUGH THAT DIDT 9,10,11 WILL BE CHEAPER SINCE ALL WILL RUSH TO JURONG. WAH.
    Yes today Jurong up 10% agents saying. Rush before too late.

  3. #63
    Unregistered Guest

    Default Re: HDB, private apartment rentals set to rise

    Quote Originally Posted by Unregistered
    Good post..have a good grasp of Singapore real estate dynamics
    Good post. Unfortunately we have all changed mind due to the prevailing market conditions.

  4. #64
    Unregistered Guest

    Default Re: HDB, private apartment rentals set to rise

    Quote Originally Posted by Unregistered
    Yes today Jurong up 10% agents saying. Rush before too late.
    Forget it lah. Invest in India and Dubai. Growth many times higher. Dynamic and vibrant centres. Singapore highly vested in these places. If there was no growth forecast there why would we go there.
    Dubai is the place. Even airlines will move hub there for Euro - Aus flights.
    300K Dhm flat 2 years ago now 900K. But look at the development in Ras asl Khaimah. New investment opportunities.

  5. #65
    Unregistered Guest

    Default Re: HDB, private apartment rentals set to rise

    Quote Originally Posted by Unregistered
    Forget it lah. Invest in India and Dubai. Growth many times higher. Dynamic and vibrant centres. Singapore highly vested in these places. If there was no growth forecast there why would we go there.
    Dubai is the place. Even airlines will move hub there for Euro - Aus flights.
    300K Dhm flat 2 years ago now 900K. But look at the development in Ras asl Khaimah. New investment opportunities.
    I AGREE WITH YOU. DUBAI SHOULD BE WHERE WE SHOULD GO. IN ASIA BANGKOK AND HO CHI MINH. NO OTHER PLACE CAN GIVE RETURNS.

  6. #66
    Unregistered Guest

    Default Re: HDB, private apartment rentals set to rise

    Quote Originally Posted by Unregistered
    Forget it lah. Invest in India and Dubai. Growth many times higher. Dynamic and vibrant centres. Singapore highly vested in these places. If there was no growth forecast there why would we go there.
    Dubai is the place. Even airlines will move hub there for Euro - Aus flights.
    300K Dhm flat 2 years ago now 900K. But look at the development in Ras asl Khaimah. New investment opportunities.
    jurong better than dubai what. see the picture in todays paper. where jurong where dubai. also so many attractions. i prefer jurong over dubai. 3 mrt stations also what. maybe mosquitos more but with development they will move to woodlands side.

  7. #67
    Unregistered Guest

    Default Re: HDB, private apartment rentals set to rise

    Quote Originally Posted by The Straits Times

    Jurong to transform from industrial zone to Lake District
    Jessica Cheam
    The Straits Times
    Saturday, 5 April 2008


    An impression of Jurong Lake District in the future. -- Photo: URA


    Lakeside, will provide attractions with an education element to attract families. -- Photo: URA

    Mention Jurong now and it conjures images of industrial land and sleepy suburban homes - but within the next decade, this district will get a stunning makeover that will transform it into Singapore's only lakeside destination to live, play and work.
    The blueprint for Jurong - to be re-branded Jurong Lake District - was unveiled by National Development Minister Mah Bow Tan on Friday at the Urban Redevelopment Authority's (URA) annual seminar for industry players.

    The ambitious plan, to be developed over the next 10 to 15 years, involves enlarging waterways, building 1,000 new private homes, 2,800 hotel rooms and adding 500,000 sq m of office space. New tourist attractions, public parks and water activities will also add sparkle to the rejuvenated town.

    Jurong Lake District will consist of two complementary precincts - Jurong Gateway and Lakeside - around the Jurong East MRT Station and Jurong Lake in the west region of Singapore.

    New homes, offices and retail space will sprout around the Jurong East MRT Station, to be known as Jurong Gateway, making it an attractive commercial hub serving the west region, outside the city centre.

    Next to it, a unique leisure destination, Lakeside, will provide attractions with an education element to attract families.

    Located around the Jurong East MRT Station, the new plans for the 70 ha Jurong Gateway is to develop it into a vibrant commercial hub with a good mix of office, retail, residential, hotel, entertainment, food & beverage and other complementary uses.

    It will be the biggest commercial hub outside the city centre. New waterways and pedestrian linkages will provide seamless connections between the two precincts.

    An integrated network of pedestrian walkways between buildings and public facilities will also be created. New landscaped open spaces and park connectors at the street-level and skyrise greenery in buildings will add to the already lush and scenic areas.

    Speaking to a 500-strong audience, Mr Mah said Jurong East is perceived by many Singaporeans as a suburban residential and industrial area 'located far away from the citiy centre'. 'However, Jurong is a gem that has yet to be uncovered and refined,' he said.

    URA's chief executive Mrs Cheong Koon Hean added: 'Jurong Gateway and Lakeside are precious gems which offer exciting opportunities for the development of leisure attractions and the biggest commercial hub outside the city centre.'

    'To realise this vision, the planners have developed strategies that capitalise on the wonderful assets these areas have. These include building upon the strategic location of Jurong Gateway which is well served by road and rail, and in the midst of a large population and customer catchment.

    'The lake and its greenery are also unique features which can be enhanced. We would like to bring about a transformed image for this area. The Jurong Lake District will become a much sought after lakeside destination for business and leisure.'

    The total potential area for development is 360 ha, close to the size of Marina Bay. The existing Chinese and Japanese Gardens will have added new facilities and activities to make them more attractive for both residents and tourists.

    URA said all the attractions around the Jurong Lake will be developed with 'a sensitive approach to the surrounding environment and natural greenery'.


    Site Plan Of Jurong Lake District


    Jurong Lake DIstrict In The Future

    Blueprint for Jurong Lake District unveiled
    Jurong Gateway: Biggest commercial hub outside the city




    Located around the Jurong East MRT Station, the new plans for the 70 ha Jurong Gateway is to develop it into a vibrant commercial hub with a good mix of office, retail, residential, hotel, entertainment, food & beverage and other complementary uses. It will be the biggest commercial hub outside the city centre.

    Jurong Gateway is one of the three regional centres identified under the Concept Plan 1991, as part of a decentralisation strategy to sustain Singapore's growth. While Marina Bay and the city remain as the main commercial centres, new commercial hubs like Jurong Gateway will also be developed outside the city centre to provide more choices of attractive business locations and bring jobs closer to homes. The other two regional centres are Tampines and Woodlands.

    Jurong Gateway offers a highly attractive location outside the Central Business District for company headquarters, business services as well as companies in the science and technology sectors. Companies that set up their offices at Jurong Gateway will be able to:
    - gain ready access to a large labour and customer pool from more than one million residents in the surrounding towns of Clementi, Bukit Batok, Jurong East and Jurong West.

    - enjoy the close proximity to a substantial cluster of multinational and global businesses of more than 3,000 companies around the International Business Park and the Jurong and Tuas Industrial Estates.

    - tap on a large talent pool from the many surrounding tertiary institutions and research hubs like the Nanyang Technological University, National University of Singapore, One-North and the Science Park 11 Jurong Gateway is already a major transport hub.

    The Jurong East MRT station is the interchange station for the East-West and North-South MRT lines. It is well served by three MRT stations and a bus interchange. Jurong Gateway is also well connected to the rest of the island by two major expressways. It is only about 20 minutes away from the city centre by car or train and just 15 minutes to the Second Link.

    More new spaces to come

    With more than 50 ha of vacant land available for development, Jurong Gateway will provide about 750,000 sq m of commercial space, more than two and a half times the size of Tampines Regional Centre today.

    The 750,000 sq m of commercial space consist of:
    - 500,000 sq m of office space and

    - 250,000 sq m of retail, food & beverage and entertainment space.

    About 2,800 hotel rooms will also be introduced at the fringe of Jurong Gateway, next to Lakeside, to meet the increasing demand for hotel rooms and to cater to the new leisure attractions and businesses that will be introduced around Jurong Lake and Jurong Gateway.

    In addition to the commercial space, at least 1,000 new homes will be added around the Jurong East MRT station, providing more opportunities to live and work in the area.

    Seamless connections, more greenery

    Singaporeans and visitors can look forward to seamless connections and more greenery at Jurong Gateway.

    From Jurong East MRT station, pedestrians can walk conveniently and comfortably to most developments and public facilities around the area through an extensive network of walkways. They can also stroll to attractions at Jurong Lake area through a new pedestrian walkway.

    There will be an experience of lush greenery with new landscaped open spaces and park connectors introduced at the street-level. Skyrise and rooftop greenery will also be encouraged on many of the buildings in the area.

    Key buildings will have scenic views of the lake. For example, buildings around the Jurong East MRT station will step down towards the lake, allowing most developments to have panoramic views of the lake.

    Lakeside: New waterfront playground

    Jurong Lake and the area around it, known as Lakeside, is the other area in the Jurong Lake District. Spread over 220 ha of land and 70 ha of water, Lakeside is envisaged to be developed into a major leisure destination for Singaporeans and tourists.

    The attractions at Jurong Lake will be differentiated from others located in Marina Bay, Southern Waterfront and Mandai.

    Singaporeans can look forward to enjoy greater access to the lake with additional green spaces and new attractions around the lake for the whole family.

    Bringing the lake closer

    There will be greater access to the lake from Jurong Gateway. One idea is to create new waterways to bring the experience of the lake closer to the main commercial hub. Another idea is to create a landscaped walkway from Jurong Gateway to the Lakeside.

    New green spaces, better access to the lake

    A new public park will be developed at the western edge of Jurong Lake, next to Lakeside MRT station. The waterfront promenade along Jurong Lake will be enhanced as well, making it easier and more pleasant for residents and visitors to enjoy breathtaking views of the lake.

    New water activities like kayaking and dragon-boating will be introduced in the lake by the end of 2008 as part of Public Utilities Board (PUB)'s Active Beautiful Clean programme. PUB will also be implementing more public amenities such as boardwalks, fishing points, wetlands and water features at selected stretches of the lake by the end of 2009 to allow people to enjoy more of the lake.

    New attractions around the lake

    Land is available for four to five attractions around the lake catering to families with young children. Possible attractions could be those with edutainment theme or nature-based attractions leveraging on the lake, or attractions with hotels, food & beverage and retail uses.

    They will complement the attractions that are already in Jurong, for example, the Jurong Bird Park, Science Centre and Singapore Discovery Centre. Blending in with the garden and lake settings, these new attractions will offer fresh recreational opportunities around the lake.

    The first anchor attraction is the new world class Science Centre. It will be moved next to the Chinese Garden MRT station. The new Science Centre will not only be bigger and more accessible, the new location also provides exciting opportunities to extend the learning experiences beyond the centre to the lake and surrounding green spaces.

    A new lakeside village will be created next to the Jurong Lake. Just 10 minutes walking distance away from Jurong Gateway, the village offers an alternative shopping and dining experience, with food & beverage, retail and entertainment uses and boutique hotels by the lakeside.

    This village will be connected to Jurong Gateway through a network of walkways, making it a natural gathering place for residents, visitors and people working nearby.
    Why suddenly Jurong Lake District is like a Marina Bay?

  8. #68
    Unregistered Guest

    Default Re: HDB, private apartment rentals set to rise

    Quote Originally Posted by Unregistered
    Why suddenly Jurong Lake District is like a Marina Bay?
    Marina Bay lose value for sure. I am laughing my self to the bank now. All flock to Jurong.

  9. #69
    Unregistered Guest

    Default Re: HDB, private apartment rentals set to rise

    Quote Originally Posted by Unregistered
    Marina Bay lose value for sure. I am laughing my self to the bank now. All flock to Jurong.
    COME ON LAH. TAMPINES ALSO WAS HUB. WHAT HAPPENED THERE? VALUE HERE ONLY FOR 9,10 DISTRICTS.

  10. #70
    Unregistered Guest

    Default Re: HDB, private apartment rentals set to rise

    Quote Originally Posted by Unregistered
    COME ON LAH. TAMPINES ALSO WAS HUB. WHAT HAPPENED THERE? VALUE HERE ONLY FOR 9,10 DISTRICTS.
    My phone hasnt stopped ringing since morning with agents asking how much I want for my flat in the Lakeside area. Any advice how much more I should ask?

  11. #71
    Unregistered Guest

    Default Re: HDB, private apartment rentals set to rise

    Quote Originally Posted by Unregistered
    My phone hasnt stopped ringing since morning with agents asking how much I want for my flat in the Lakeside area. Any advice how much more I should ask?
    Really? So much demand huh already?? Will take 5 years atleast for even some digging to start I think. Any views.

  12. #72
    Unregistered Guest

    Default Re: HDB, private apartment rentals set to rise

    Quote Originally Posted by Unregistered
    Forget it lah. Invest in India and Dubai. Growth many times higher. Dynamic and vibrant centres. Singapore highly vested in these places. If there was no growth forecast there why would we go there.
    Dubai is the place. Even airlines will move hub there for Euro - Aus flights.
    300K Dhm flat 2 years ago now 900K. But look at the development in Ras asl Khaimah. New investment opportunities.
    But we not Blanga leh.............................................

  13. #73
    Unregistered Guest

    Default Re: HDB, private apartment rentals set to rise

    Quote Originally Posted by Unregistered
    My phone hasnt stopped ringing since morning with agents asking how much I want for my flat in the Lakeside area. Any advice how much more I should ask?
    Agents all want to F**k ur ass.

  14. #74
    Unregistered Guest

    Default Re: HDB, private apartment rentals set to rise

    Quote Originally Posted by Unregistered
    Marina Bay lose value for sure. I am laughing my self to the bank now. All flock to Jurong.
    No, u should be laughing all the way to...............IMH

  15. #75
    Unregistered Guest

    Default Re: HDB, private apartment rentals set to rise

    Quote Originally Posted by Unregistered
    jurong better than dubai what. see the picture in todays paper. where jurong where dubai. also so many attractions. i prefer jurong over dubai. 3 mrt stations also what. maybe mosquitos more but with development they will move to woodlands side.
    Jurong is for Singaporean.........Dubai for Blanga........

  16. #76
    Unregistered Guest

    Default Re: HDB, private apartment rentals set to rise

    Oh any comments on this observation from the expats forum? Seems a knowledgeable chap. Thanks buddy for educating us. I will delay my buying.


    Quote Originally Posted by Unregistered
    I Re: Apartment sales slowing?
    « Reply #389 on: 18 March 2008, 23:13:57 PM » Quote

    --------------------------------------------------------------------------------
    Quote from: Kubes.SG on 18 March 2008, 23:04:49 PM

    The reason I am looking for some rational data-based economic basis for why values will boom again soon in Singapore is because I get nothing but the following soft baseless reasons, that don't link to any meaningful data:

    IRs are coming. Rich people will discover Singapore
    Singapore Flyer/Eye
    F1
    Youth Olympics
    Singapore Hub for everything
    Inflation is high and increasing in Singapore
    SGD is rising against USD
    India and China booming ecomony
    Singapore has limited land
    Population will increase to 6.5mln
    Financial/Media/Health Hub

    My points are the following:

    Singapore prime property is grossly overvalued, by historical and global standards - (don't look at the 1996 peak as the benchmark, look at the average of the last 20 years)

    Singapore's property cycle is 1-2 years of boom, followed by 1-2 years of decline then 2-5 years of stagnation

    About 30,000 new prime properties are booked to be completed by 2010, exceeding demand

    Possibly 50% of those were purchased by investors/speculators, many though DPS

    DPS entirely skewed the market by allowing speculators/developers/realtors to rapidly pump-up prices with very small financial commitment (2%-20%)

    Many of the speculators never planned to own the apartments they bought, but to flip them quickly

    With negagitve equity and being highly leverage speculators will be under massive stress. Some will walk, some will sell. Further reducing market prices and sentiment.

    Singapore's leadership are publicly bearish on the prime property market declaring prices will decline

    Sales of prime properties have collapsed over the in Jan and Feb to the lowest levels in 5 years (BT and ST this week)

    Market sentiment is at panic levels. External negative economic pressures and credit crunch is underway now in all developed economies - strong and weak. These will impact Singapore too.

    Asia has not "de-coupled" its economies from the US or WE. Singapore's exports indirectly still go mainly to the US. Consumption is till very low in Chinda. With recession in the US the reduced demand will still hit Singapre. Chinda owe Singapore nothing.

    Singapore's 2007Q4 GDP shrank 4.8% I fully expect that the SG.gov is currently pumping the local economy hard to avoid a technical recession.

    Singapore's productivity rates in 2007 declined by 0.9% - the greatest decline on record

    Latest population target is 5.5mln by 2040, or about 10,000 HH per year.

    Given current mix that means about 2,000 prime properties required per year

    Jobs growth is good, but it is largely at the lowest levels. In coming workers will not be able to live in prime property. Many incoming professionals will not be able to afford prime property rentals without correction

    Adam Smith's invisible hand of capitalism will play an influencing role in equalizing the balance




  17. #77
    Unregistered Guest

    Default Re: HDB, private apartment rentals set to rise

    I have some questions for Mr. Expat Forum, can any kind soul here help me to convey?
    Quote Originally Posted by Expats Forum
    Singapore prime property is grossly overvalued, by historical and global standards - (don't look at the 1996 peak as the benchmark, look at the average of the last 20 years)
    I don't know what you mean by "overvalued". If you look at the average of the last 20 years, almost all global cities have gone up tremendously, not just Singapore.

    Bombay, Shanghai, London, New York, Hong Kong.

    If you look at Hong Kong's property market here:
    http://business.fullerton.edu/financ...05.337_356.pdf

    and Singapore's property market here:
    http://www.redas.com/einformation/mt...vtmeasures.pdf

    You can see that both Singapore and Hong Kong have gone up almost synchronously.

    London's property prices have also gone up by 279% in the last 10 years.
    http://www.easier.com/view/House_Pri...le-109868.html

    Hence can you tell me which major international city is not "overvalued" compared to their historical value?

    (Please exclude cities like Yangon, Kabul and Baghdad).
    Singapore's property cycle is 1-2 years of boom, followed by 1-2 years of decline then 2-5 years of stagnation
    Where did you get this idea from?

    Look at the following residential price chart from 1960 to 2006

    http://www.redas.com/einformation/mt...vtmeasures.pdf

    Did you see the continuous climb all the way from Q2 1986 (Index at 33.5 points) all the way to Q2 1996 (Index at 181.4 points). Exactly 10 years and a rise of 440%. Bull-run of the decade!

    What do you mean by 1-2 years of boom, followed by 1-2 years of decline?
    About 30,000 new prime properties are booked to be completed by 2010, exceeding demand
    Can you tell me how do you know that this supply of 30,000 has exceeded the demand?

    How did you work out the demand? What are the formulae and data you used to work out the demand?

    What exactly is the demand?
    Possibly 50% of those were purchased by investors/speculators, many though DPS

    DPS entirely skewed the market by allowing speculators/developers/realtors to rapidly pump-up prices with very small financial commitment (2%-20%)

    Many of the speculators never planned to own the apartments they bought, but to flip them quickly

    With negagitve equity and being highly leverage speculators will be under massive stress. Some will walk, some will sell. Further reducing market prices and sentiment.
    Why should the speculators be under "massive stress"? The apartments can easily be rented out.

    Don't forget that all the projects coming up TOP this year were bought in 2005, when the price was only 50% of what it is today.

    With a rental yield of around 5% (based on current prices) and a mortgage interest rate of only 3%, the bank is subsidising borrowers to the tune of 2% p.a.

    For those who've bought 3 years ago at half price (compared to today), that's a yeild of 10% versus a mortgage interest of 3%, the bank is subsidising borrowers to the tune of 7%.

    Furthermore, rentals are expected to continue to rise due to the influx of foreingers. Read the following article:

    "HDB, private apartment rentals set to rise

    By Wong Siew Ying, Channel NewsAsia | Posted: 03 April 2008 0050 hrs
    SINGAPORE : Rentals for HDB and mass market private apartments are set to rise in the coming years, with more foreign workers heading for Singapore."


    If it looks familiar, it's because it's the title for one of the threads in this forum. Go and read the full article over there.

    Please explain where is the "massive stress" coming from?

    Is getting 7% p.a. from the bank stressful? Are you referring to the "massive stress" of having too much money?
    Singapore's leadership are publicly bearish on the prime property market declaring prices will decline
    That is really strange!

    MM Lee just said during Chinese New Year on 11 Feb 2008 that "By 2011, the Marina Bay Area will be splendid, especially a water plaza, surrounded by a promenade fronting financial centres, integrated resorts, residential condominiums, food and beverages outlets, an enchanting sight to behold. It will be a unique city centre. We will not leave our heartlands behind. All new towns will be upgraded and beautified. The massive new investments in infrastructure and beautification, plus a steadily growing economy, with higher incomes, will keep property values going up."

    You can read his full speech here:

    http://app.sprinter.gov.sg/data/pr/20080211985.htm

    May I ask whether MM Lee is considered part of "Singapore's leadership"?
    [QUOTE]Sales of prime properties have collapsed over the in Jan and Feb to the lowest levels in 5 years (BT and ST this week)

    Market sentiment is at panic levels. External negative economic pressures and credit crunch is underway now in all developed economies - strong and weak. These will impact Singapore too.[QUOTE]
    If sentiment is at "panic level", why then does the URA property price index rise 6.6% in Q4 2007 and then another 4.2% in Q1 2008?

    http://www.ura.gov.sg/pr/text/2008/pr08-35.html

    Remember that all these happened after the U.S. subprime had started.

    If sentiment is at "panic level", then prices should decrease, instead of increase. Are you referring to "panic level" of the buyers, or "panic level" of the sellers?
    Asia has not "de-coupled" its economies from the US or WE. Singapore's exports indirectly still go mainly to the US. Consumption is till very low in Chinda. With recession in the US the reduced demand will still hit Singapre. Chinda owe Singapore nothing.

    Singapore's 2007Q4 GDP shrank 4.8% I fully expect that the SG.gov is currently pumping the local economy hard to avoid a technical recession.

    Singapore's productivity rates in 2007 declined by 0.9% - the greatest decline on record
    According to the Ministry of Trade and Industry, "Singapore growth slows to 6.0% in fourth quarter"

    Even "On a quarter-on-quarter seasonally adjusted annualised basis, real GDP fell by 3.2 per cent in the quarter compared with a 4.4 per cent gain in the preceding quarter, reflecting a slowdown in the manufacturing sector".

    May I known where did you get the figure "shrank 4.8%" from?

    http://www.channelnewsasia.com/stori...320244/1/.html
    Latest population target is 5.5mln by 2040, or about 10,000 HH per year.

    Given current mix that means about 2,000 prime properties required per year

    Jobs growth is good, but it is largely at the lowest levels. In coming workers will not be able to live in prime property. Many incoming professionals will not be able to afford prime property rentals without correction

    Adam Smith's invisible hand of capitalism will play an influencing role in equalizing the balance
    What you mean by "Jobs growth is good, but it is largely at the lowest levels. In coming workers will not be able to live in prime property. Many incoming professionals will not be able to afford prime property rentals"?

    Read the following article:

    Steaming demand for senior private bankers
    7 February 2007

    UBS isn't the only one beefing up its senior private banking ranks in Singapore.

    The Swiss bank relocated Carlo Grigioni, its formerly Swiss-based global head of private wealth management, to Singapore this month.

    Pay for these top individuals is generous – the salary for the average private banker is around S$300k (US$195k). But it can reach considerably more than that. "Last year we came across a few candidates who will hit S$700k to $800k in total compensation," says Koh.


    http://news.efinancialcareers.sg/NEW...ewsItemId-9212

    Do you think that with a salary of S$300k to $800k per year, these "low level workers" will be able to live in prime properties?

  18. #78
    Unregistered Guest

    Default Re: HDB, private apartment rentals set to rise

    Obviously the expat forumer doesn't understand Singapore well enough and quoting economic data out of context or even outright wrongly interpreting them. If an expat is not vested, of course it will be in his interest for rents and property prices here to be capped.

  19. #79
    Unregistered Guest

    Default Re: HDB, private apartment rentals set to rise

    Quote Originally Posted by Unregistered
    My phone hasnt stopped ringing since morning with agents asking how much I want for my flat in the Lakeside area. Any advice how much more I should ask?

    $5million, no less.

  20. #80
    Unregistered Guest

    Default Re: HDB, private apartment rentals set to rise

    Quote Originally Posted by Unregistered
    No, u should be laughing all the way to...............IMH
    He laughing all the way to visit you? What happened?

  21. #81
    Unregistered Guest

    Default Re: HDB, private apartment rentals set to rise

    Quote Originally Posted by Unregistered
    Obviously the expat forumer doesn't understand Singapore well enough and quoting economic data out of context or even outright wrongly interpreting them. If an expat is not vested, of course it will be in his interest for rents and property prices here to be capped.
    What can you expect from Foreign Thrash?

  22. #82
    Unregistered Guest

    Angry Re: HDB, private apartment rentals set to rise

    Quote Originally Posted by Unregistered
    My phone hasnt stopped ringing since morning with agents asking how much I want for my flat in the Lakeside area. Any advice how much more I should ask?
    Dont be too happy. Jurong is still Jurong, polluted and far from city. Unless govt move industrial estate to elsewhere, it will be still polluted. I've worked my life in jurong. My black car is tainted with chemical white dot paint and I can't get rid of it.

  23. #83
    Unregistered Guest

    Default Re: HDB, private apartment rentals set to rise

    According to quite a few "experts" on this board the cannons are still booming. I just hope they are not confusing it with the big thuds of speculators jumping from high rises.

  24. #84
    Unregistered Guest

    Default Re: HDB, private apartment rentals set to rise

    Quote Originally Posted by Unregistered
    April 6, 2008

    PROPERTY

    7 signs of a property slowdown

    Buyers seem to be gaining ground again in the private homes market but consultants say it's far from crashing yet

    By Joyce Teo, Property Correspondent


    After rocketing to dizzying heights last year, the private homes market has stalled because of the global credit crunch - an external factor that took the market by surprise.

    The withdrawal of the deferred payment scheme last year has also dampened demand somewhat.

    Sales volumes and interest have fizzled out just as quickly as the market surged last year.

    While many players hang on to the notion that strong fundamentals - low interest rates, for instance - will support the market, sentiment has fast melted away.

    Is the property market slowing to a crawl? We examine the mounting evidence.

    1 Growth in home prices weakens

    The Urban Redevelopment Authority's (URA's) early estimate of first-quarter data showed a 4.2 per cent rise in private home prices against 6.8 per cent in the previous quarter and 31 per cent last year.

    Consultants expect price growth to weaken. Prices, especially for high-end homes, might fall but not significantly as sellers are still reluctant to accept lower prices, said a seasoned property agent. 'There's no urgency to do so.'

    2 Launches are held back

    Developers have ample properties to sell but most continue to hold back launches. Some small ones have gone ahead but the response has been unimpressive.

    With buyers and sellers choosing to remain on the sidelines as the global impact of a slowing United States economy remains uncertain, the market is largely quiet.

    URA data showed that only 185 new private homes were sold in February, down from 328 in January. Last year, developers sold 14,811 new homes.

    3 Collective sales have died down

    This market is dead, for now at least, as developers stay away and new rules make it tougher for owners to sell en bloc.

    So far this year, only one sale has been done compared with 26 in the first quarter of last year.

    And one potential sale - that of Makeway View in Newton - was cancelled after the buyer, Bravo Building Construction, said it had found out that it would have to pay a higher-than-expected development charge.

    Owners of some estates are starting to lower their price expectations.

    Pinetree Condominium in Balmoral Park, for instance, was recently relaunched at a lower indicative price of $128 million - down from around $145 million last September, but still well above the 2006 price tag of $59 million.

    4 Investor funds pull out or hold off

    Islamic investment bank Kuwait Finance House, which agreed last December to buy 97 Goodwood Residence units for $818.4 million from GuocoLand, allowed the purchase option to lapse.

    Both parties said last month that they were still in talks but did not provide clear reasons for the pullout. Industry sources had speculated that the fund's price - a record for the condo's area - was too high.

    A recent DTZ Research report said some funds are holding off making investments, at least for the first half of this year, until the extent of the US slowdown and its global impact become clearer.

    5 Sellers hand out discounts galore

    In the resale market, sellers are getting more flexible. There are more desperate sellers in the market this year, property agents said.

    Some want to sell one or two of their properties because they had bought some units under the deferred payment scheme, and payment is due in six months to a year, one agent said.

    For new launches or sales of new units, some developers are also willing to give discounts when asked, while others offer stamp duty rebates to attract buyers.

    6 Agents less sought after, ads dwindle

    Property agents have more free time and are taking out fewer advertisements because of the poor response.

    Last year, a seller's unit could be marketed by five to six agents, with the deal going to the agent who garnered the best price.

    But this year, a seller might go with one agent, said HSR Property Group's executive director, Mr Eric Cheng.

    On average, an ad for a reasonably priced unit could attract 12 to 15 calls last year. That is now down by half, he said. Prime, high-end homes have it worse, he added, noting that there could be no calls at all for some ads.

    'I have not been advertising since Nov 15 because I could see sales volume falling,' said agent Andrew Soh.

    7 Buyers toss in low bids to test the waters

    Some developers have offered rather low bids in recent land tenders, which signals a slowing property market.

    The Government in mid-March decided not to award a landed housing site in Jurong West as the bids were too low.

    Then, the lowest bid for a Yishun condo site came in at just $95 per sq ft of potential gross floor area.

    'The developers are pricing in the risks of falling prices,' said Knight Frank's director for consultancy and research, Mr Nicholas Mak.

    'Given thin volume, they could also be hoping that there is no competition.'

    Going forward, optimistic players are waiting for the market to regain some of its former glory in the next six months.

    The pessimistic ones are prepared to ride out the whole year and possibly the next.

    'If volume remains thin, there is a chance that private home prices might weaken this year, but the market is not expected to crash,' said Mr Mak.
    The 8th sign is the loud thuds heard due to speculators jumping off high rises.

  25. #85
    Unregistered Guest

    Default Re: HDB, private apartment rentals set to rise

    Quote Originally Posted by Unregistered
    According to quite a few "experts" on this board the cannons are still booming. I just hope they are not confusing it with the big thuds of speculators jumping from high rises.
    Another cock talking cork again.

  26. #86
    Unregistered Guest

    Default Re: HDB, private apartment rentals set to rise

    [QUOTE=Unregistered]I have some questions for Mr. Expat Forum, can any kind soul here help me to convey?



    I don't know what you mean by "overvalued". If you look at the average of the last 20 years, almost all global cities have gone up tremendously, not just Singapore.

    Bombay, Shanghai, London, New York, Hong Kong.

    If you look at Hong Kong's property market here:
    http://business.fullerton.edu/financ...05.337_356.pdf

    and Singapore's property market here:
    http://www.redas.com/einformation/mt...vtmeasures.pdf

    You can see that both Singapore and Hong Kong have gone up almost synchronously.

    London's property prices have also gone up by 279% in the last 10 years.
    http://www.easier.com/view/House_Pri...le-109868.html

    Hence can you tell me which major international city is not "overvalued" compared to their historical value?

    (Please exclude cities like Yangon, Kabul and Baghdad).



    Where did you get this idea from?

    Look at the following residential price chart from 1960 to 2006

    http://www.redas.com/einformation/mt...vtmeasures.pdf

    Did you see the continuous climb all the way from Q2 1986 (Index at 33.5 points) all the way to Q2 1996 (Index at 181.4 points). Exactly 10 years and a rise of 440%. Bull-run of the decade!

    What do you mean by 1-2 years of boom, followed by 1-2 years of decline?



    Can you tell me how do you know that this supply of 30,000 has exceeded the demand?

    How did you work out the demand? What are the formulae and data you used to work out the demand?

    What exactly is the demand?

    Why should the speculators be under "massive stress"? The apartments can easily be rented out.

    Don't forget that all the projects coming up TOP this year were bought in 2005, when the price was only 50% of what it is today.

    With a rental yield of around 5% (based on current prices) and a mortgage interest rate of only 3%, the bank is subsidising borrowers to the tune of 2% p.a.

    For those who've bought 3 years ago at half price (compared to today), that's a yeild of 10% versus a mortgage interest of 3%, the bank is subsidising borrowers to the tune of 7%.

    Furthermore, rentals are expected to continue to rise due to the influx of foreingers. Read the following article:

    "HDB, private apartment rentals set to rise

    By Wong Siew Ying, Channel NewsAsia | Posted: 03 April 2008 0050 hrs
    SINGAPORE : Rentals for HDB and mass market private apartments are set to rise in the coming years, with more foreign workers heading for Singapore."


    If it looks familiar, it's because it's the title for one of the threads in this forum. Go and read the full article over there.

    Please explain where is the "massive stress" coming from?

    Is getting 7% p.a. from the bank stressful? Are you referring to the "massive stress" of having too much money?

    That is really strange!

    MM Lee just said during Chinese New Year on 11 Feb 2008 that "By 2011, the Marina Bay Area will be splendid, especially a water plaza, surrounded by a promenade fronting financial centres, integrated resorts, residential condominiums, food and beverages outlets, an enchanting sight to behold. It will be a unique city centre. We will not leave our heartlands behind. All new towns will be upgraded and beautified. The massive new investments in infrastructure and beautification, plus a steadily growing economy, with higher incomes, will keep property values going up."

    You can read his full speech here:

    http://app.sprinter.gov.sg/data/pr/20080211985.htm

    May I ask whether MM Lee is considered part of "Singapore's leadership"?
    [QUOTE]Sales of prime properties have collapsed over the in Jan and Feb to the lowest levels in 5 years (BT and ST this week)

    Market sentiment is at panic levels. External negative economic pressures and credit crunch is underway now in all developed economies - strong and weak. These will impact Singapore too.
    If sentiment is at "panic level", why then does the URA property price index rise 6.6% in Q4 2007 and then another 4.2% in Q1 2008?

    http://www.ura.gov.sg/pr/text/2008/pr08-35.html

    Remember that all these happened after the U.S. subprime had started.

    If sentiment is at "panic level", then prices should decrease, instead of increase. Are you referring to "panic level" of the buyers, or "panic level" of the sellers?

    According to the Ministry of Trade and Industry, "Singapore growth slows to 6.0% in fourth quarter"

    Even "On a quarter-on-quarter seasonally adjusted annualised basis, real GDP fell by 3.2 per cent in the quarter compared with a 4.4 per cent gain in the preceding quarter, reflecting a slowdown in the manufacturing sector".

    May I known where did you get the figure "shrank 4.8%" from?

    http://www.channelnewsasia.com/stori...320244/1/.html

    What you mean by "Jobs growth is good, but it is largely at the lowest levels. In coming workers will not be able to live in prime property. Many incoming professionals will not be able to afford prime property rentals"?

    Read the following article:

    Steaming demand for senior private bankers
    7 February 2007

    UBS isn't the only one beefing up its senior private banking ranks in Singapore.

    The Swiss bank relocated Carlo Grigioni, its formerly Swiss-based global head of private wealth management, to Singapore this month.

    Pay for these top individuals is generous – the salary for the average private banker is around S$300k (US$195k). But it can reach considerably more than that. "Last year we came across a few candidates who will hit S$700k to $800k in total compensation," says Koh.


    http://news.efinancialcareers.sg/NEW...ewsItemId-9212

    Do you think that with a salary of S$300k to $800k per year, these "low level workers" will be able to live in prime properties?
    Wah lau! Enough enough!

  27. #87
    Unregistered Guest

    Default Re: HDB, private apartment rentals set to rise

    Quote Originally Posted by Unregistered
    Dont be too happy. Jurong is still Jurong, polluted and far from city. Unless govt move industrial estate to elsewhere, it will be still polluted. I've worked my life in jurong. My black car is tainted with chemical white dot paint and I can't get rid of it.
    Ya just like telling people that Singapore is building a Disneyland on Jurong Island, What a joke. The next development will be at Senoko, city views as well but is JB city views.

  28. #88
    Unregistered Guest

    Default Re: HDB, private apartment rentals set to rise

    Quote Originally Posted by Unregistered
    Ya just like telling people that Singapore is building a Disneyland on Jurong Island, What a joke. The next development will be at Senoko, city views as well but is JB city views.
    If you it should not be in Jurong lake, can you let us know where should this district be instead? Thanks.

  29. #89
    Unregistered Guest

    Default Re: HDB, private apartment rentals set to rise

    Quote Originally Posted by Unregistered
    According to quite a few "experts" on this board the cannons are still booming. I just hope they are not confusing it with the big thuds of speculators jumping from high rises.
    This is really strange.

    I'd thought that "sour grapes" are people who stay in outlying areas like Jurong.

    Hence with the Government's move to enhance the Jurong area and cause property prices there to rise, I would think that all the sour grapes in this forum will disappear.

    Seems like that is not the case, and the sour grapes are still so sour.

    Where exactly do these sour grapes stay?

    Hmmm ... that's really a mystery.

  30. #90
    Unregistered Guest

    Default Re: HDB, private apartment rentals set to rise

    The Jurong Lake District is targetted at the thousands of engineers working on Jurong Island so that they have a nice home to come home to. It's not meant to be a crowd-puller or the new property hot-spot. People have been reading too much into it.

    Anyway with the current sentiments, I doubt if developers want to jump in and bid high. There's too much speculative froth clouding the real fundamentals.

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