Results 1 to 23 of 23

Thread: Post CM 9 5 July 2018

  1. #1
    Join Date
    Jun 2009
    Location
    Southbank
    Posts
    9,485

    Default Post CM 9 5 July 2018

    YOUR 🏡HOME in the🍃🍂GARDEN🦋
    From $15xxpsf only

    THERE IS VALUE IN THE GARDENS

    Buyer walk into Garden few days ago.
    Re invite by core team this morning 17 July 2018 to Garden again.
    Went to Affinity to compared.
    Came back to Gardens again.
    Bought a 3+S PH .

  2. #2
    Join Date
    Jun 2009
    Location
    Southbank
    Posts
    9,485

    Default

    Full ABSD $321,000
    Foreigner:20%

  3. #3
    Join Date
    May 2008
    Posts
    9,279

    Default

    as expected, among those who need to pay absd, the foreigners feel the pinch the least haha. $1.605m purchase, before $241k, now $321k. for 2nd time singaporean buyers, before $112k, after $193k. the same $80k is an increase of "only" 33% for the foreigner but for a 2nd time homebuyer, that's a 71% increase.

  4. #4
    Join Date
    Nov 2015
    Posts
    514

    Default

    What percentage difference do you see in terms of volume between Q2 to Q3 (current, post CM)? I reckon its a 30-40% drop after negating 1,000 units from the last min buying on the day of announcement.

  5. #5
    Join Date
    Jun 2009
    Location
    Southbank
    Posts
    9,485

    Default

    Quote Originally Posted by PropVestor View Post
    What percentage difference do you see in terms of volume between Q2 to Q3 (current, post CM)? I reckon its a 30-40% drop after negating 1,000 units from the last min buying on the day of announcement.
    1. New Launch post CM will be price sensitive best time to buy.
    2. Due to additional 5% ABSD for developer, the new land and en bloc bidding price will be more sensitive.
    3. Construction cost will be reduce by using more sensitive material.
    4. Big name like WOHA will be more in the CCR than RCR or OCR.

    After sometime everyone will forget and chiong again just like the pricing since 2006.

    Anyone think can get even 2011 psf will be label crazy because the land price 965 psf ppr already more than the launch price 899psf.

  6. #6
    Join Date
    May 2012
    Posts
    4,035

    Default

    7 years ago, Singaporeans could still buy 2nd property without ABSD. Foreigners had to pay ABSD of 10%

    5 years ago, Singaporeans had to pay ABSD of 7% to buy 2nd property. Stated then in IRAS "These new ABSDs and loan rules are significant, but they are temporary."

    Today, Singaporeans buying 2nd property have to pay more than foreigners had to pay 7 years ago.

    Where are all these heading towards?




    Quote Originally Posted by Arcachon View Post
    1. New Launch post CM will be price sensitive best time to buy.
    2. Due to additional 5% ABSD for developer, the new land and en bloc bidding price will be more sensitive.
    3. Construction cost will be reduce by using more sensitive material.
    4. Big name like WOHA will be more in the CCR than RCR or OCR.

    After sometime everyone will forget and chiong again just like the pricing since 2006.

    Anyone think can get even 2011 psf will be label crazy because the land price 965 psf ppr already more than the launch price 899psf.
    The three laws of Kelonguni:

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

  7. #7
    Join Date
    Jun 2009
    Location
    Southbank
    Posts
    9,485

    Default

    Quote Originally Posted by Kelonguni View Post
    7 years ago, Singaporeans could still buy 2nd property without ABSD. Foreigners had to pay ABSD of 10%

    5 years ago, Singaporeans had to pay ABSD of 7% to buy 2nd property. Stated then in IRAS "These new ABSDs and loan rules are significant, but they are temporary."

    Today, Singaporeans buying 2nd property have to pay more than foreigners had to pay 7 years ago.

    Where are all these heading towards?
    Long story.

  8. #8
    Join Date
    May 2008
    Posts
    9,279

    Default

    Quote Originally Posted by PropVestor View Post
    What percentage difference do you see in terms of volume between Q2 to Q3 (current, post CM)? I reckon its a 30-40% drop after negating 1,000 units from the last min buying on the day of announcement.
    a bit hard to tell as it depends on the timing of launches + the 7th month where developers refrain from launching.

    do u think it will average 600 units a month in 2019 for a total of 7200 units or more?

  9. #9
    teddybear's Avatar
    teddybear is offline Global recession is coming....
    Join Date
    Mar 2009
    Posts
    10,800

    Default

    Well, as we know, properties are getting more and more expensive because of ABSD "cooling measures".............................. Ha ha ha! ABSD collect $$$ and make properties more expensive is also "cooling measures"..............

    Quote Originally Posted by Arcachon View Post
    1. New Launch post CM will be price sensitive best time to buy.
    2. Due to additional 5% ABSD for developer, the new land and en bloc bidding price will be more sensitive.
    3. Construction cost will be reduce by using more sensitive material.
    4. Big name like WOHA will be more in the CCR than RCR or OCR.

    After sometime everyone will forget and chiong again just like the pricing since 2006.

    Anyone think can get even 2011 psf will be label crazy because the land price 965 psf ppr already more than the launch price 899psf.

  10. #10
    Join Date
    Jun 2009
    Location
    Southbank
    Posts
    9,485

    Default

    Quote Originally Posted by teddybear View Post
    Well, as we know, properties are getting more and more expensive because of ABSD "cooling measures".............................. Ha ha ha! ABSD collect $$$ and make properties more expensive is also "cooling measures"..............
    properties are getting more and more expensive because of ABSD - Not True, it is because of land price.

    ABSD collect $$$ and make properties more expensive - Not True, it only make 2rd and 3th property owner pay more.

  11. #11
    Join Date
    Apr 2012
    Posts
    174

    Default

    ABSD is actually making properties cheaper, especially if you are buying first property.

  12. #12
    Join Date
    Nov 2015
    Posts
    514

    Default

    Volume will certainly drop as you probably second guessed. Main beneficiaries will be first time buyers who will enter market earlier than wait any longer since developers are luring them with modest price increase and even discounts. Another group will be those who resign to the fate the CMs is indeed a reality of today. What took them so long since 2013, Iím not sure. Forever waiting for durian to drop (actually a lot has and itís given out for free today). Hehe

  13. #13
    Join Date
    Jun 2009
    Posts
    5,675

    Default

    This will cause developers to bid for land more cautiously for 2nd half of 2018. Which might mean a lower land price and potentially a lower launch price for end of 2019 to 2020 just in time for elections. Just like those land bids after the previous cm was introduced were cheaper. E.g. Santorini vs alps

  14. #14
    Join Date
    May 2008
    Posts
    9,279

    Default

    Quote Originally Posted by azeoprop View Post
    This will cause developers to bid for land more cautiously for 2nd half of 2018. Which might mean a lower land price and potentially a lower launch price for end of 2019 to 2020 just in time for elections. Just like those land bids after the previous cm was introduced were cheaper. E.g. Santorini vs alps
    while i do agree that there may be more cautious bidding, i think it would be temporary too. the removal of en bloc supply means all the developers will again focus on GLS in future. i don't think it will be very much cheaper, nor will the launch prices (which would follow the market price of competing launches in 2019 and 2020).

    the cm does prevent prices from shooting up though.

  15. #15
    Join Date
    Jun 2009
    Posts
    5,675

    Default

    Maybe some new mass market launch may sell bare units as base price to lower selling price and costs. Flooring, doors and furnishings become optional extras.

  16. #16
    Join Date
    Jun 2009
    Location
    Southbank
    Posts
    9,485

    Default

    Quote Originally Posted by azeoprop View Post
    Maybe some new mass market launch may sell bare units as base price to lower selling price and costs. Flooring, doors and furnishings become optional extras.
    For those who wait maybe this is what they going to get.

    I guess The Tre Ver may be the last value for money project.

    Sometime it is good to know what you have miss rather than think what you have save.

  17. #17
    Join Date
    Dec 2008
    Posts
    3,721

    Default

    Quote Originally Posted by Pynchmail View Post
    ABSD is actually making properties cheaper, especially if you are buying first property.
    ABSD simply eats into your future gains, if you are an investor.

  18. #18
    Join Date
    May 2012
    Posts
    4,035

    Default

    Quote Originally Posted by august View Post
    ABSD simply eats into your future gains, if you are an investor.
    On the other hand, it could also mean less competition for rental units in the future.

    If people only have 1 private property as the only property under their name, it is harder for them to rent out, unless they stay in parents' or spouse's home.

    For people who already own properties and pay ABSD just to be an investor, their costs will be much higher than those who did not have to pay ABSD.

    It's possible to see some rental recovery and growth for the way ahead.
    The three laws of Kelonguni:

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

  19. #19
    Join Date
    Jun 2009
    Location
    Southbank
    Posts
    9,485

    Default

    Quote Originally Posted by august View Post
    ABSD simply eats into your future gains, if you are an investor.
    You are right, I told my buyer before the 9th CM someone will pay for his ABSD he don't believe now got to pay another 5%.

  20. #20
    Join Date
    May 2008
    Posts
    9,279

    Default

    Quote Originally Posted by Arcachon View Post
    You are right, I told my buyer before the 9th CM someone will pay for his ABSD he don't believe now got to pay another 5%.
    did he still buy after the CM?

  21. #21
    Join Date
    May 2008
    Posts
    9,279

    Default

    Quote Originally Posted by Arcachon View Post
    For those who wait maybe this is what they going to get.

    I guess The Tre Ver may be the last value for money project.

    Sometime it is good to know what you have miss rather than think what you have save.
    i think jadescape may also be. these 2 should be the last though.

  22. #22
    teddybear's Avatar
    teddybear is offline Global recession is coming....
    Join Date
    Mar 2009
    Posts
    10,800

    Default

    Yap, What the property "cooling measures" do is just like last time property price recession, developers change to cheap materials and worksmen (1 of the condo now having law suite with developer is a very good example).
    End up only somebody get a lot of $$$ into their pocket but doesn't achieve anything that they claimed they want to achieve.

    Quote Originally Posted by azeoprop View Post
    Maybe some new mass market launch may sell bare units as base price to lower selling price and costs. Flooring, doors and furnishings become optional extras.

  23. #23
    Join Date
    Apr 2012
    Posts
    174

    Default

    Quote Originally Posted by august View Post
    ABSD simply eats into your future gains, if you are an investor.
    Yes, unless ABSD abolished when it is time to sell. But this will only happen when property market is bad.

Similar Threads

  1. March condo resale volume at highest since July 2018
    By reporter2 in forum Singapore Private Condominium Property Discussion and News
    Replies: 1
    -: 10-04-19, 22:59
  2. Private resale prices post first dip since July's property curbs
    By reporter2 in forum Singapore Private Condominium Property Discussion and News
    Replies: 0
    -: 17-01-19, 20:50
  3. 42 units return from july to nov 2018
    By Arcachon in forum Coffeeshop Talk
    Replies: 0
    -: 27-12-18, 08:00
  4. Buyer profile after 5 July 2018.
    By Arcachon in forum Coffeeshop Talk
    Replies: 0
    -: 08-10-18, 11:10
  5. Did 5 July 2018, 9th Control Measure Crash the Market?
    By Arcachon in forum Coffeeshop Talk
    Replies: 11
    -: 04-09-18, 18:07

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •