Newbie
severe asset inflation to come..... Stated by some professor earlier on.
At this rate, its the next generation that suffers... 5 room HDB at 0.5 million to start with? By then.... Maybe govt will build 2 room HDB and sell them at 0.25 million and above. Just when....
Newbie
I do agree with you on that better plot of land, just in terms of location. However, if it is on the market for so long and yet still no takers... what could be the reason for it? Maybe its because that the reserve price is set too high... or that developers don't think it is good enough for them to bid.Originally Posted by amk
I would think that the best time to sell off that plot of land is when the MRT interchange infrastructure is up. Better if the bus interchange is well linked.
Bishan 8's pricing... this one should be above centro's since it is near to town
New Launch Project Specialist
If the land is released at high reserve price would not that defeat the purpose of the Govt in releasing more land (supply) to lower prices?
Newbie
Agree. But in my opinion, in long term, for the plot next to Bishan Stadium/MRT, fair pricing should be $1k to $1.2K psf. Long term pricing for good units at Clover should hover at $900 psf or higher, as many worst off areas are already selling $850 psf.
F01 N54 Sheer Driving Pleasure
What NTU's Prof. Paul Yip is predicting is very serious!
Can we trust him?
'Severe asset inflation'
Melissa Tan
The Straits Times
Wednesday, 12 August 2009
Asset inflation - meaning a rise in price of assets such as stocks and property - is a possible consequence of the United States' current expansionary fiscal policy. --ST Photo: Alphonsus Chern
Singapore risks 'severe asset inflation' during the economic recovery, a local economist has warned.
But this danger can be averted if the Government acts now to control the prices of HDB flats, said Mr Paul Yip, Nanyang Technological University (NTU) associate professor of economics.
Asset inflation - meaning a rise in price of assets such as stocks and property - is a possible consequence of the United States' current expansionary fiscal policy, Professor Yip said on Tuesday.
He was speaking at an NTU symposium - on exchange rate systems and Asian macroeconomic policies - which brought together 11 macroeconomists from institutions such as Stanford University and Delhi School of Economics.
'Many people say that the property market is rebounding, but I don't think so; we are still bottoming. Recovery will be slow ... and a few years later we might have severe asset inflation, much more than the rise today,' Prof Yip said.
'So if you are a stock investor or property investor, it's very easy. Just hold your stock and shares for another three or five years - the price will climb to be much higher. But if you lose money, don't blame me,' he quipped.
Prof Yip noted that the US government has lowered interest rates and expanded its money supply in a bid to avoid a repeat of the Great Depression.
But post-recession, the government may fail to shrink the money base back to pre-downturn levels, he said. In that case, excess US dollars would flood the market.
'For Singapore, there may be an inflow of money from the US, increasing the money base and therefore the money supply... When the recovery comes, there will be wage inflation and consumer price index inflation, and this will fuel asset inflation,' he told The Straits Times.
'Rents will rise and then people will be able to charge even higher rents, causing a vicious circle,' Prof Yip said.
Newbie
Is it just me? But I find something just a little wierd. People want the property next to an MRT and are willing to pay up to 1000 psf for it. But at that price, you have to pay at least 1 million even for a smallish unit, and definitely go over 1 million for a decent sized unit.
People who can afford to pay over 1 million dollars for a condo will most likely already own a car? And since they drive, wouldn't that kinda defeat the biggest benefit of staying so near to the MRT?
New Launch Project Specialist
Staying near MRT is for other family members who don't drive, or sometimes it just makes sense to leave the car at home and take the train.Is it just me? But I find something just a little wierd. People want the property next to an MRT and are willing to pay up to 1000 psf for it. But at that price, you have to pay at least 1 million even for a smallish unit, and definitely go over 1 million for a decent sized unit.
People who can afford to pay over 1 million dollars for a condo will most likely already own a car? And since they drive, wouldn't that kinda defeat the biggest benefit of staying so near to the MRT?
Global recession is coming....
I look for not only near to MRT station but also near to shopping malls and eateries nearby because this is to provide conveniency for other family members (and sometimes myself too):
1) My parents are old and don't drive
2) My kids can't drive
3) My maid can't drive
4) When I get too old, I can't drive too
5) When I go to Orchard shopping malls or Raffles Place etc during peak hours, I may not want to drive too (to avoid the terrible traffic jam there).
6) Just need to walk short distance to get household required items, food, etc (carrying the heavy groceries and walk long distance is not a joke).
Is it just me? But I find something just a little wierd. People want the property next to an MRT and are willing to pay up to 1000 psf for it. But at that price, you have to pay at least 1 million even for a smallish unit, and definitely go over 1 million for a decent sized unit.
People who can afford to pay over 1 million dollars for a condo will most likely already own a car? And since they drive, wouldn't that kinda defeat the biggest benefit of staying so near to the MRT?
Newbie
Bishan Park undergoes S$76m facelift
2 Oct 2009 (CNA)
Singapore - One of Singapore's most popular parks is about to blossom - with a river promenade, cafes, themed playgrounds and diverse wildlife to give it vibrancy.
This will be the new face of Bishan Park after the 35-metre wide canal beside it is transformed into a river that meanders through the park - the first time a canal will be naturalised and integrated into a park in Singapore.
When completed in 2011, it will also be linked to the Kallang River.
To give the 3km man-made waterway the natural feel of a river, soil bio-engineering techniques - the use of plant materials and traditional engineering methods - will be employed for the first time in Singapore. There will be greenery and rocks along the river walls to prevent soil erosion and to beautify its banks. The greenery will also provide a natural habitat for wildlife.
This revamp is being commissioned under the Public Utilities Board's (PUB) Active, Beautiful, and Clean Waters (ABC Waters) Programme, after a 60m stretch of Bishan Park was converted into a river waterway as a test bed for the project last December. One of the biggest challenges, said PUB's 3P network director Yap Kheng Guan, was to decide which plants to use, as these need to survive river water currents.
The $76-million project is undertaken in conjunction with the redevelopment of the 20-year-old park by the National Parks Board. Prime Minister Lee Hsien Loong will launch the project tomorrow.
PUB is also working on eight other projects under its ABC Waters Programme. These include the building of a floating island in Sengkang to link residents from one bank of Sungei Punggol to the other via a floating bridge. Another eight projects in areas including Rochor Canal, Geylang River and Sungei Pandan are slated to start next year.
Junior
xebay this plot was triggered for sale LONG LONG time ago in 2007! It has absolutely nothing to do with the current "cooling methods".
This is a mystery to me. This plot was 1st put on the reserve list in mid 2007. And according to the procedure, it should only be on sale tender "when a developer already submit a indicative bid that meets the reserve". (Just like the recent Upper Thomson site right next to Gardens@Bishan). So when it's "triggered for sale", there should have one bid ready. The only reason I can guess is that, the reserve price was set after FEO bid the AMK site. So the price was probably around 500-600psf range. But it's end 2007, very quickly the crisis came, so the original developer who submit the bid withdrew in 2008 because of the crisis. Now seeing 1150 AMK project is not selling, no one wants to bid 600 anymore.
New Launch Project Specialist
Releasing supply to cool market has also been the tag line of the Govt a long, long time ago, but I have always questioned their true agenda, as it always seems to me that they are simply releasing land in frenzy periods to join in the hot market and maximise their profits, rather than help keep prices low to help the people.
Newbie
so why do you still vote for them? vote the other guy!
Newbie
Kallang River-Bishan Park ABC Waters Project
A joint collaboration between national water agency PUB and the National Parks Board, the Kallang River-Bishan Park ABC Waters Project was designed with a holistic sustainable approach in mind, and with the concept of integrating the park with the river.
One of the main features of the redevelopment is the restoration of the concrete canal into a naturalized river with bio-engineered river edges using a variety of plants and bedding materials. This project is the first of its kind in Singapore, and the integration of the river with the park aims to make the waterway more accessible to the public while creating more spaces for the public to enjoy.
The naturalized river will meander through the park and bring park users closer to the water, so they can enjoy it while appreciating the importance of clean water. The river is designed based on a flood plain concept whereby during dry weather, the river flow will be confined to a narrow stream in the middle of the river. The gently sloped river banks will form part of the park features, and park users will be able to walk along the water’s edge. In the event of a storm, the water level in the river will rise and the area adjacent to the river will be used as a flood plain to contain the rainwater.
The new Bishan Park will be home to diverse wildlife, with existing water bodies in the park playing an important role in promoting growth. These ponds will be developed into water features with soft, gradual edges, and integrated seamlessly with the river.
In addition, a water playground will be constructed as part of the redevelopment, allowing children to have fun with water and appreciate its qualities and value. Through these interactions with water, it is envisioned that the redevelopment of the park will both engage the public and foster a sense of communal ownership and appreciation for our water resources.
The redevelopment of Bishan Park/Kallang River also includes the following:-When completed, the new Bishan Park will be transformed, enhancing the quality of life for residents in the area.
- Cleansing biotopes in Bishan Park 1 which will offer effective water treatment while maintaining a natural and beautiful environment
- Water cascades which will help to improve the water circulation of the existing ponds
- Additional commercial spaces such as al fresco dining area in Bishan Park 1
- Improved foot reflexology path
- Additional carparks
- 3 new playgrounds, inclusive of the water playground, each with a distinctive theme
- A landmark viewpoint with art installation on the hill in Bishan Park 2
- Bridges to improve the connectivity between the park and adjacent developments
- The project will commence in Oct 2009 and is expected to complete in end 2011.
Junior
Are these two things near to each other?
Newbie
Senior
if only singapore had better and more cooling weather, those waterfront promenade spots will be much more enjoyable.
Newbie
Al Fresco Dining, Pubs & Spa in Bishan Park, located in front of Clover. More coming according to the major makeover plan.
Newbie
Seems like the project is getting some help to clear all the units... Free help some more... good for the residents
Newbie
More help coming in the next few months from LTA. Keep a look out for the news.
Senior
clear what units?
Newbie
Haha... got MRT news or not.... My instincts tells me that there might going to be one near to it but I cannot be sure. Don't flame me later.
This project not sold out right? Status as at Aug 09 is 162 units remaining... not sure about the latest figure as it could have been sold out by now. But I would bet that it is not. If it is fully sold.. can expect to see advertisement in the newspaper.
Newbie
Heard left only with about 100units. So its about 80% sold.
I believe BB is refering to the improvement of the road by LTA in consideration
and anticipation of the increase in population when CBTP and NL top.
Newbie
not yet sold out, but will be soon with all the positive news... it is priced more competively than nearby projects.
potential for Clover prices to move upwards is highest... property experts are looking at least 900 psf for good units in the mid term
Senior
The good units on the high floors were selling pretty near that level a few months back isn't it? I was there and their low floors was about 780psf.not yet sold out, but will be soon with all the positive news... it is priced more competively than nearby projects.
potential for Clover prices to move upwards is highest... property experts are looking at least 900 psf for good units in the mid term
Newbie
does it matter? in shopping malls, foot reflexology centres are always next to food courts....Are these two things near to each other?
Newbie
Latest I heard price increase from 1 Nov.
By then $900 psf is commonplace for the better units.
Interested would-be buyers had better take action asap...
Newbie
Only 5 units were sold in Sep 2009. Still around 160 units remain unsold in this project.
Stack 12 is totally unsold. Currently, the price of 4 bedroom units in Stack 12 is around 1.36M (1.765 sqft, 20-35th floor, at block 6-north tower, facing south). so the psf is around $770 .
The location of Clover is very convenient: supermart, food court, park, a lot of good schools and child cares. it need J8 and Bishan MRT, or, more precisely, Bishan Interchange.
Please note the completing dates of CC line, Bishan Park makeover and Clover TOP are all set to 2010.
However, its layout design is poor. See my comments below:
1 balcony is too long
2 useless area - agent suggests me to put a piano there
3 big curves
4 the master bed room wash room is too spacious - almost as big as a common room
btw, the dining room is too small - like some 2 bedroom flat
Last edited by singaporewoman; 14-10-09 at 18:02.
Senior
Yes, I remember the long corridor entrance and the small little squarish area at the end that you can't really do much with. The showroom had a sofa there which looked out of place.
Newbie
Those remaining 20% unsold units are mainly 4 bedrooms with very very large area (at least 1700 sf). Therefore, the quantum will be very very high. Out of reach for most people or HDB upgraders. Will need to wait for the foreign buying wave to come absorb these units. Indonesian & Malaysian will like these units.Only 5 units were sold in Sep 2009. Still around 160 units remain unsold in this project.
Stack 12 is totally unsold. Currently, the price of 4 bedroom units in Stack 12 is around 1.36M (1.765 sqft, 20-35th floor, at block 6-north tower, facing south). so the psf is around $770 .
The location of Clover is very convenient: supermart, food court, park, a lot of good schools and child cares. it need J8 and Bishan MRT, or, more precisely, Bishan Interchange.
Please note the completing dates of CC line, Bishan Park makeover and Clover TOP are all set to 2010.
However, its layout design is poor. See my comments below:
1 balcony is too long
2 useless area - agent suggests me to put a piano there
3 big curves
4 the master bed room wash room is too spacious - almost as big as a common room
btw, the dining room is too small - like some 2 bedroom flat
Junior
not to mention the entrance "balcony" does not have any actual viewOnly 5 units were sold in Sep 2009. Still around 160 units remain unsold in this project.
Stack 12 is totally unsold. Currently, the price of 4 bedroom units in Stack 12 is around 1.36M (1.765 sqft, 20-35th floor, at block 6-north tower, facing south). so the psf is around $770 .
The location of Clover is very convenient: supermart, food court, park, a lot of good schools and child cares. it need J8 and Bishan MRT, or, more precisely, Bishan Interchange.
Please note the completing dates of CC line, Bishan Park makeover and Clover TOP are all set to 2010.
However, its layout design is poor. See my comments below:
1 balcony is too long
2 useless area - agent suggests me to put a piano there
3 big curves
4 the master bed room wash room is too spacious - almost as big as a common room
btw, the dining room is too small - like some 2 bedroom flat
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