one good reason is, there is a genuine need for a condo. another is, given the unreliability of financial institutions and other investment products, where else to put your money in? under your pillow?Originally Posted by Unregistered4
YES - Not enough CPF Minimum Sum...sigh.
YES - Need to get higher loan for Condo. Not worth it.
NO - I can get good rental yield. Shiok man.
NO - Other reason.
one good reason is, there is a genuine need for a condo. another is, given the unreliability of financial institutions and other investment products, where else to put your money in? under your pillow?
damn bloddy stupid..obviously you have never stay nor visited a condo in your life. It's standfard practices that no clothings shou;d be visible from outside.
if all dry clean..you don't even need to wash..why bother with yard or without..
Haven't figured it out?
Cos' OCR price will not drop. In fact, it is going up.
Wow!
Kovan Residences $964psf!!!
Why the market react to the reccession so differently from the pass ? They are very majority of them still buying. I think the they are from very cash reach minority ENBLOCER making the different. So that mass market remain "strong" even in the reccession period and it never happen in the pass. Second group of minority buyers are foriegner. They are not willing to pay high rent inorder for landloard to cover their installment, so they buy.
Wah! You quite smart ah? Who taught you those answers?
Please remember that the bulk of demand for property markets are coming from middle class who are mostly working professionals.
So recession will significantly affect the property market only when there are many occasion of salary decrease and retrenchment in the job market.
At least for now we haven't seen this happening in the job market.
Have you applied for a position in Marina Bay Sands?
That jerk is a conman. Who want to employ him?
Hey conman is here, looking for me? he he he
THe Quartz Construction Status Jun 2007 to Sep 2008
Watch The Quartz on YouTube. It is a compilation of the construction status from Jun 2007 to Sep 2008.
Also provided in the video, benefits of property investment.
Value Appreciation:
Jun 2006 - $529
Jun 2007 - $650
Jun 2008 - $800
.
.
.
Jun 2018 - $1xxx
http://www.youtube.com/watch?v=TJCWE9eHqlo
So the price is moving up?
No wonder those idiots made.
Property sub-sales net $95m profits
Third-quarter showing still strong but market will soften soon: Experts
Fiona Chan
Property Reporter
Wednesday, 22 October 2008
Private home prices may have slid in the third quarter but the sub-sale market was still going strong.
Ninety-six per cent of owners who resold an uncompleted home between July and last month pocketed profits from the deals, according to new data by property consultancy Savills Singapore.
These transactions, officially known as sub-sales, occur when you buy a home and resell it before it is built. They are used as a proxy for property speculation because the owner resells the home without ever living in it.
Only 12 sub-sale transactions out of the 306 that Savills analysed in the quarter incurred a loss, amounting to just under $1 million of red ink. The rest made a total of $95.1 million in gains, Savills said.
This continues the trend in the first half of the year, when 97% of such deals turned in profits. But the profits seen in the third quarter were considerably narrower as home prices started softening more quickly.
Profitable sub-sellers made an average of $323,420 in the third quarter, but this was skewed upwards by a single large deal: a whopping $6.7 million profit from the sale of a 63rd-storey penthouse at The Sail @ Marina Bay.
Excluding this sale, the average gain was $301,784 - almost 40% lower than the average gain in the first half of the year. It works out to an average profit for each seller of about 30% over the purchase price.
Still, 'to be able to achieve such gains in a year when the property market has gone into a standstill is highly commendable', said Mr Ku Swee Yong, director of business development and marketing at Savills Singapore.
But in case would-be speculators become tempted by these gains, other consultants noted that the bulk of these deals probably occurred before the Sept 14 collapse of United States investment bank Lehman Brothers, which caused the financial crisis to take a sudden turn for the worse.
'The real estate market typically lags behind the stock market by six months or more, so we will probably start to see the real effect early next year,' said Mr Nicholas Mak, director of research and consultancy at Knight Frank.
'These profitable sub-sale transactions took place before the market hit the skids. It is extremely risky to go and speculate in the market right now.'
Most sellers who made a profit in the third quarter had originally bought their units in the last two years and benefited from the sharp run-up in prices in the period, said Mr Ku. While values have weakened somewhat this year, they are still generally higher than in 2006.
Sellers who held on to their units for a longer time before reselling them in the third quarter made more gains, Savills' data showed. Even those who had bought a unit as late as this year and offloaded it in the third quarter made an average gain of $98,600.
If they had sold the unit in the first half of the year, however, they would probably have doubled their gain.
The biggest profits of more than $1 million each were for units at The Sail @ Marina Bay, St Regis Residences and Cairnhill Residences.
On the flip side, sub-sale losses for the quarter averaged $76,820 for each loss-making deal. A unit at Watermark Robertson Quay chalked up the biggest loss of $207,552, while units at Soleil @ Sinaran, 8 @ Mt Sophia and One Amber were also sold at losses of more than $100,000 each.
All the losses were for units that had been bought last year or this year, according to Savills' data. Sub-sellers who had bought their units at the peak of property fever, between June and September last year, bled the most.
'In any case, there are always desperate sale cases even during good times,' Mr Ku noted.
The Sail @ Marina Bay had the largest number of sub-sales in the quarter - 19 - with each deal netting its seller an average profit of $1.1 million. There was one loss, of $62,890, for a second-floor unit.
Other projects with more than 10 sub-sales included Parc Emily in Dhoby Ghaut, Park Infinia at Wee Nam, Riveredge in Tanjong Rhu and The Esta in Marine Parade.
But the profits were not just confined to developments in the prime districts.
At Casa Merah in Tanah Merah, 10 sub-sales yielded an average profit of $100,351, while Atrium Residences in Geylang saw four sub-sales with an average gain of $54,556.
Jun 2105 - ZERO (the 99 lease is over !)
Why would anyone buy this 99 leasehold property far away from the city at 841 psf, when one can buy the esta / one amber freehold projects close to the city at 800 psf... i just cannot understand the rationale..
For 800 to 900psf, can get a freehold or 999yr condo in the central zone (eg. citysquare, one st michael, beacon heights etc.). If outskirts condo can sell so high, it is good news for condos in the central that will fetch much higher...
If one can buy a normal unit in The Esta or One Amber at $800psf, one would not have paid $841psf for The Quartz, though the Quartz is next to the MRT station.
Unless one is saying the $841psf buyer is stupid! I can confidently say this buyer is not stupid.
I would rathe buy a condo not so near MRT but close proximity to town than buy a condo far from town but close proximity to MRT for the same price in PSF. When people talk about location, proximity to town comes before proximity to MRT.....
It depend on where do you work, and your children convenience to go to school and what neighbourhood you want mix with, the more 'ang mo' or more chinese.
I personally think staying in HDB town centre with more chinese give me more of those home, kampong feeling, rather than always try to pretent like 'ang mo' by staying in those area where alot of pretenders.
if the condo not so near MRT does not have a good network of public transport, i don't think it is a good buy either.
wont go wrong buying pty in central. That is the safest bet jokes aside. Can u just imagine 10yr down the road how scarce land in central zone going to be? Roads in central mostly well connectd. I would rather live in central away frm mrt but have gd roads n bus routes than the a condo in ulu sengkang near sengkang mrt. Suppose preferences vary but in pty terms, central always has a higher intrinsic value that outskirt pty.
Agent Joe
huh....someone talking about Esta/One Amber here?
waste current talkng bout esta or one amber
properties in central of course is the best. but the person said properties near town.
or close to city.
Except when the surrounding environment is so packed and crowded like Beacon Heights
I would prefer suburb with peaceful and quiet environment.
Also a lot of greneries to release your tension away after tiring day at the office.
Don't fool us, average price for one amber is 1100 - 1300 psf.
If it cost 800 psf like what you said, I myself will certainly go for it as it is freehold.
beacon heights anytime better than Quartz as it is in central.Except when the surrounding environment is so packed and crowded like Beacon Heights
I would prefer suburb with peaceful and quiet environment.
Also a lot of greneries to release your tension away after tiring day at the office.
Exactly, now is ard $1100+ psf. The price of $800+ is year 2006.....wake up agents!
Agent Joe
Look in classified. #18 selling 880psf
Agent Joe
Yes, some unit had come down to 800+
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