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Thread: 14,200 private homes may hit Singapore market

  1. #1
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    Default 14,200 private homes may hit Singapore market

    Up to 29 developments could be launched from this quarter to the end of this year, putting as many as 14,200 private homes on the market, says a report issued by property agency List Sotheby's International Realty Singapore.

    The firm, however, says the market should be able to digest the volume, but this critically depends on whether developers are able to time their launches strategically.

    Sotheby's reviewed the recent government land sales (GLS) sites as well as those from successful collective sales and made the assumption of a period of nine to 12 months for the GLS sites to obtain all planning approvals before being launched for sale, and 15 to 18 months for the collective sale sites.

    Based on these assumptions, the firm has identified 29 sites acquired by developers between mid-2016 and August last year that could be launched later this year.

    These new projects can result in an estimated 14,200 units being launched. Six of these sites are in the core central region, which are areas such as Orchard Road, 13 are in the rest of central region that includes areas like Tanjong Rhu, and 10 are in the outside central region, which refers to the suburbs.

    While these volumes may seem high, they are not unprecedented.

    The unsold inventory under construction (launched and unsold, and unlaunched projects with planning approvals) held by developers was around 35,000 units. When demand picked up last year, this helped reduce the unsold inventory to 18,900 units by end-2017.

    Sotheby's associate director for research Han Huan Mei said that "for developers to launch around 15,000 units (in) the remaining part of this year may be possible for the market". With the market still on a recovery track, this level may not be too much for it to digest. Also, developers have sold many of the units from existing projects.

    Ms Han said "developers will also likely pace their launches, depending on their business strategies".

    The report noted that most of the developers have built up a substantial land bank in the past two years. With land prices on the rise, more developers are becoming increasingly selective in collective sales.

    Demand will continue to be supported by liquidity and low interest rates. While cooling measures will cap demand, there may be additional demand from some of those who sold in this latest round of collective sales.

    However, with the cooling measures still in place, overheating is unlikely to occur. On the buyers' part, they are likely to be managing their finances so as to avoid paying various additional taxes.



    https://www.straitstimes.com/busines...ater-this-year

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    May 2016 Shunfu Ville Shunfu Road
    Oct 2016 Raintree Gardens Potong Pasir Avenue1
    Nov 2016 Causcaden Mansion 3 Cuscaden Walk
    Nov 2016 12 GrangeRoad Grange Road
    Dec 2016 National Aerated Water SerangoonRoad
    Jan 2017 Nursery AmberRoad
    Feb 2017 ShopHouses Upper Bukit Timah Road
    Dec 2016 GLS Margaret Drive
    Jan 2017 GLS Perumai Road
    Feb 2017 GLS West Coast Vale
    Apr 2017 Vacant Land Jalan Remaja
    May 2017 Detached House 494 Upper East Coast Road
    May 2017 Rio Casa (HUDC) Hougang Ave 7
    May 2017 Goh & Goh Building Upper Bukit Timah Road
    May 2017 One Tree Hill Gardens One TreeHill
    Jun 2017 Eunosville (HUDC) Sims Avenue
    Jun 2017 1 Draycott Park Draycott Park
    Jul 2017 Serangoon Ville 9HUDC) Serangoon North Aveune 1
    Jul 2017 Albracca Meyer Road
    Aug 2017 Sloane Court Hotel & adjoining Land Balmoral Road
    Aug 2017 Tampines Courts (HUDC) Tampines Street 11
    Aug 2017 Vacant Land River Valley Road
    Aug 2017 Toho Green (opposite Serangoon Ville) Yio Chu Kang Road
    Apr 2017 GLS Toh tuck Road
    May 2017 GLS Stirling Road
    Jun 2017 GLS Lorong 1 Realty Park
    Jun 2017 GLS Upper Serangoon Road
    Jul 2017 GLS Woodleigh Lane
    Aug 2017 GLS Serangoon North Avenue 1

  3. #3
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    What do you guys think about each displaced en bloc unit will churn out another 2-3 more? I was told in a Guru Talk event that the average age of en-bloc recipients being about 60 years and they will surely buy another replacement unit followed by helping 1 or 2 kids for their down payments. Hence, looking at the numbers of 14,200 is just about right? Anyone care to share their thoughts?

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    Quote Originally Posted by PropVestor View Post
    What do you guys think about each displaced en bloc unit will churn out another 2-3 more? I was told in a Guru Talk event that the average age of en-bloc recipients being about 60 years and they will surely buy another replacement unit followed by helping 1 or 2 kids for their down payments. Hence, looking at the numbers of 14,200 is just about right? Anyone care to share their thoughts?
    Ask yourself, what will you do.

    At 60, children already got property not likely be buying for children.

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    Quote Originally Posted by Arcachon View Post
    Ask yourself, what will you do.

    At 60, children already got property not likely be buying for children.
    Nope. My relative at 60, kids at 34-35. Now searching to buy hse for them. Not necessary all kids are independent

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    Quote Originally Posted by jwong71 View Post
    Nope. My relative at 60, kids at 34-35. Now searching to buy hse for them. Not necessary all kids are independent
    Wow, don't know good news or bad news to me.

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    Quote Originally Posted by Arcachon View Post
    Ask yourself, what will you do.

    At 60, children already got property not likely be buying for children.
    I believe in contingencies so we should have reserves for them just in case. Hence, I am vested now for the future, whatever it might hold for us.

    I do not mind paying the initials for them like the 5%-10% cash upfront (or whatever the downpayment is 20+ years in the future). They can service the rest themselves. Just to give them a leg up before I kick the bucket. Thinking back in 2013, my 65+ year old folks do not have the means to help me when I first bought Duo back in 2013. I still count my blessings today...they have already paid for my college, what more to ask from them right?

  8. #8
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    Quote Originally Posted by Arcachon View Post
    Wow, don't know good news or bad news to me.
    Good and bad.

    Good for those with the means, can join with kids to buy a desired property since they can loan in full for 30 years. Surely they should be working?

    Bad for the country.
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

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