Still bullish on Singapore property

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Wait till May, then we will get to know of other plans in the MasterPlan 2008.

Great which means the CCR would be cheaper soon with most rushing to Jurong. Thumbs up.

[Unregistered]

Re: when will the property price debate on this b oard ever end?
« Reply #14 on: 05 April 2008, 18:46:43 PM » Quote

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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.

wooooooooooooohahahaha

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yOU MEAN LIKE DOT.COM, PROPERTY.COM ALSO WOULD BE GONE?

No. You will be gone.

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I LIKE THE ELEVATED PEDESTRIAN WALKWAYS SHOWN IN THE PICTURE. IT SURE IS AN ATTRACTION.

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No. You will be gone.

yes gone to dubai to invest. triple profits in 5 years. you will still be around posting. all the best.

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yes gone to dubai to invest. triple profits in 5 years. you will still be around posting. all the best.

wooooohahahahahaha

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I LIKE THE ELEVATED PEDESTRIAN WALKWAYS SHOWN IN THE PICTURE. IT SURE IS AN ATTRACTION.

no i like the 'possible new scenic road'. would be relaxing to drive on the scenic road. go jurong go.

[Unregistered]

Great which means the CCR would be cheaper soon with most rushing to Jurong. Thumbs up.

Check your facts before making conclusion.

Jurong Lake District came about because of space shortage in ShentonWay/MBFC/Suntec for MNCs' HQs.

The plan is to move manufacturer HQs out of ShentonWay/MBFC/Suntec to Jurong Lake District so that banking & finance HQs can take over ShentonWay/MBFC. Infocomm/IT HQs are still in Suntec. If required, they may have to move out to another location too.

There will still be a shortage of space, so the new Paya Lebar Business Hub will complement ShentonWay/MBFC/Suntec.

Tampines Regional Centre and Changi Business Hub will continue to be the Backend Offices of these HQs.

[Unregistered]

Check your facts before making conclusion.

Jurong Lake District came about because of space shortage in ShentonWay/MBFC/Suntec for MNCs' HQs.

The plan is to move manufacturer HQs out of ShentonWay/MBFC/Suntec to Jurong Lake District so that banking & finance HQs can take over ShentonWay/MBFC. Infocomm/IT HQs are still in Suntec. If required, they may have to move out to another location too.

There will still be a shortage of space, so the new Paya Lebar Business Hub will complement ShentonWay/MBFC/Suntec.

Tampines Regional Centre and Changi Business Hub will continue to be the Backend Offices of these HQs.

Even without Jurong there is an oversupply. Have to wait for the next up cycle in 6 years for that. Before that with the slowdown occupancy will fall to 70% from 95% in the CBD.

[Unregistered]

Even without Jurong there is an oversupply. Have to wait for the next up cycle in 6 years for that. Before that with the slowdown occupancy will fall to 70% from 95% in the CBD.

Hello Sotong. If occupancy will drop to 70% in CBD, why the government needs to panic and start working on Jurong Lake District, Paya Lebar Business Hub, etc.? Too much time and money to spend?

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Hello Sotong. If occupancy will drop to 70% in CBD, why the government needs to panic and start working on Jurong Lake District, Paya Lebar Business Hub, etc.? Too much time and money to spend?

To be ready for the next upcycle. The hubs and buildings wont spring up overnight you moron.

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To be ready for the next upcycle. The hubs and buildings wont spring up overnight you moron.

k.n.n., upcycle yet occupany drop ??
you wat lan ?? mulan ??

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k.n.n., upcycle yet occupany drop ??
you wat lan ?? mulan ??

Moron between up cycles there is always a BIG downcycle....almost like the vacuum in your head.

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Moron between up cycles there is always a BIG downcycle....almost like the vacuum in your head.

you bo lan, must be mulan
tok cock with your c.b.

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you bo lan, must be mulan
tok cock with your c.b.

Maybe shemale? Ha ha ha!

[Unregistered]

Cos' they are quite affordable lah.

I don't that rich. May just settle for a GT-R to enjoy speed.

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'So, if you analyse all the fundamentals, Singapore as a global city is a winning formula. And I'm not saying this because I'm selling property.'

Liew Mun Leong

This person is obviously slapping his own mouth.

[Unregistered]

Published April 5, 2008

Still bullish on Singapore property


DESPITE the US subprime crisis, which will have a cyclical impact, Liew Mun Leong remains bullish on Singapore's property market in the medium term.

'Main street America is suffering from the sins and mistakes of Wall Street,' he says. 'And when main street gets hit, that will affect Asia, we can't run away from it.'

However, Singapore's property market has some strong underpinnings, he maintains. Most importantly, the drivers of Singapore's property market have changed in recent years. 'The rise in property prices since 2002 is no longer due to domestic policy changes such as the liberalisation of CPF and the HDB sub-sale policy.

'It is driven by the remaking of Singapore. Singapore as a global city, as a gateway to Asia, the integrated resorts, plus the displacement demand from en-bloc sales.'

The change in the number and profile of foreign buyers is also notable, he points out. 'In the past foreign buyers were mainly from Malaysia and Indonesia. But now, there are big buyers from at least 12 countries.'

The proportion of foreign buyers for private properties has also risen from 13.7 percent of the total in 1996 to 25 per cent in 1997. And the number of foreign professionals coming to live in Singapore has tripled over that period, as has foreign direct investment.

At the same time, the affordability of private residential properties as measured by mortgage payments as a percentage of household income has improved, going from around 46 per cent to 36 per cent.

And then Mr. Liew points to the big picture: 'Singapore has 700 sq km, with 4.5 million people. The population is projected to grow to more than 6 million, but the city cannot grow. If we reclaim another 11 per cent we'll be in international waters already.'

'Another point, I tell foreigners. Compare putting $5 million in a house in Singapore with putting $5 million in a house in, say, Bangkok or Jakarta. In Singapore, the government provides so much support in the form of infrastructure. What infrastructure support would you get in Bangkok or Jakarta? This is an important issue when you buy property. Investors realise this.

'So, if you analyse all the fundamentals, Singapore as a global city is a winning formula. And I'm not saying this because I'm selling property.'

A question to all of you,
with $5 million, what type of house can buy in Singapore, Bangkok and Jakarta?

[Unregistered]

This person is obviously slapping his own mouth.

he is correct, you slap your own face better.

[Unregistered]

Wait till May, then we will get to know of other plans in the MasterPlan 2008.

Let me give you a hint, West Coast!!!!

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Let me give you a hint, West Coast!!!!

R u going to buy up all of west coast?

[Unregistered]

Let me give you a hint, West Coast!!!!

East is better than West!!!!

[Unregistered]

EAST WEST CENTRAL NORTH ALL GOING DOWN. WITH YOUR 5M$ U CAN BUY CENTRAL TOO.

[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.

[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.

[Unregistered]

The 8th sign is the loud thuds heard due to speculators jumping off high rises.

Another sign is speculators jumping off MRT tracks

[Unregistered]

Another sign is speculators jumping off MRT tracks

Agree. They shouldn't have speculated that SIBOR will go up and property prices would come down in Q1 08.

[Unregistered]

EAST WEST CENTRAL NORTH ALL GOING DOWN. WITH YOUR 5M$ U CAN BUY CENTRAL TOO.

EAST WEST CENTRAL NORTH ALL GOING UP. WITH YOUR 5M$ U CAN'T BUY MUCH.

[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 blurr cock is repeating his cork in this thread too.

[Unregistered]

data as below,

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.

Link: 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.

Link: 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."
Link: 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.

Link: 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."

Link: 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."?

Ha ha ha! Cool!