Please don't misinform. break even cost for this project is 620 to 650psf. and media say that it will be sold at 700 to 800 psf. but I doubt it will be sold at more than 700 psf on average.Originally Posted by Unregistered
Please don't misinform. break even cost for this project is 620 to 650psf. and media say that it will be sold at 700 to 800 psf. but I doubt it will be sold at more than 700 psf on average.
Haha, the irony of it! U ask people not to be misinformed but you misinform others about the break even cost of psf... Break even is $680 to $720 (See link below). Units expected to be marketed at $800 psf.
http://www.channelnewsasia.com/stori...336051/1/.html
You are talking like using yr dick, CW, Stellar all have not even TOP yet u can predict they all dont have overcrowded thing. If you want to bluff can use those projects already TOP la. Bluff also don't know how to do it. Kayu. No wonder you are so sour grape, only know how to talk back about VP. Get a life, dick head.
Re: Varsity Park (D5, 99 years leasehold, CapitaLand)
blackjack21trader, hope you will seal up the deal this week. You won't regret it, promise. VP will eventually hit 1000 psf.
Read this article, blackjack, before you plunge yourself into this stupid deal.
ZURICH (Reuters) - UBS AG (UBSN.VX: Quote, Profile, Research) doubled its writedowns from the subprime crisis, parted company with its chairman and asked shareholders for more emergency capital on Tuesday in a second dramatic attempt to reverse its fortunes.
The Swiss bank wrote down an additional $19 billion on U.S. real estate and related assets, causing a net loss of 12 billion Swiss francs ($12.03 billion) in the first quarter, and said it would seek 15 billion francs through a rights issue of shares.
It is also hiving off ailing portions of the bank into a separate unit.
The moves were more dramatic than expected by many and deal a new blow to the world's largest wealth manager and the European bank hardest hit so far by the credit crisis, still reeling under the weight of billions of dollars in bad investments.
Shares were expected to fall sharply on the news.
"The question remains whether finally all the skeletons have been cleared from the closet through today's writedowns or whether there will be further problems. There is still room for more correction given the exposure," said analysts at bank Wegelin in a note to clients.
Ya, lets check his ip address to see if this fellow is writing from his ward in IMH. Heard one patient at IMH so obsessed with owning properties in D5 that he named all the properties in the monopoly game to "botania, varsity park, infinti....
In which case, any purchase at this point is a stupid deal.....
Why you didn't you warn me that price is expected to go up further?
See what happened! I have to buy at a higher price now!
Next time when you have some good info, share with others.
HDB and private property prices up in Q1 flash estimates
Channel NewsAsia
Tuesday, 1 April 2008, 1345 hrs
Private residential property prices in Singapore rose 4.2% in the first quarter this year, according to the latest preliminary estimates from the Urban Redevelopment Authority.
The pace was slower than the 6.8% clip recorded in the fourth quarter of last year.
On a quarter on quarter basis, the biggest rise in property prices for non-landed properties came from the central districts just outside the prime postal districts of 9, 10 and 11.
Prices in these central areas (i.e. RCR) increased 7.7% in January to March, compared with the October to December period.
Properties in the prime districts of 9, 10 and 11, as well as the downtown area and Sentosa (i.e. CCR), rose 7.5% on quarter.
And those in the rest of Singapore (i.e. OCR) advanced about 7% in the first quarter from the previous three months.
The preliminary estimates are based on transaction prices given in caveats lodged during the first 10 weeks of the quarter, as well as the number of new units sold.
Meantime, the Housing and Development Board says prices of HDB resale flats rose 3.4% in the January to March period over the previous three months.
This is lower than the 5.7% increase in the fourth quarter.
Both the URA and HDB will release final figures at the end of April.
The URA said in its release, that as at 4th Quarter 2007,there are about 64,900 private residential units in the pipeline, of which about 56,100 new private housing units are expected to be completed between 2008 and 2011.
There are also some 38,300 units that have yet to be put on sale by developers.
As for the supply of government flats, the HDB said it had made available in the first quarter of this year, some 1,100 new flats in two Build-To-Order (BTO) projects in Punggol and Yishun.
It said that depending on demand, there could be another 5,000 new BTO flats in towns such as Punggol, Sengkang, Woodlands and Bukit Panjang.
The total planned BTO supply of 6,100 new flats for January till September 2008 will surpass the annual BTO flat supply in 2007 and 2006.
This new supply of flats will be in addition to those offered under Balloting Exercises for surplus replacement SERS and other flats, as well as the planned release of three Design-and-Build sites in Simei, Toa Payoh and Bedok with some 1,500 flats in the 1st half of 2008.
believe me, I don't know how URA compile their statistics. Prices in the west coast area have not gone up, even by one percent. If anything, prices have come down a bit. asking prices have gone down from 800+ psf to 700+ at the present.
Junior
Noted. Thanks for the article. I will exercise caution.
Junior
I have to say this forum is indeed a very useful one with many helpful forumers although some might say otherwise. I learnt a lot from some more informed individuals here and luckily I did not over-commit in my investment as a result of my over zealous sentiments. Thanks alot.
d5 price went up!
Recent Transaction in vp already $800psf and one forumer here buy at $820psf .So price in VP is not dropping as what many here wish.Sorry if you are sourgrape S
Re: Varsity Park (D5, 99 years leasehold, CapitaLand)
I'm not vested in VP but I need to say just this: the fact the VP was fully sold during launch really speaks for itself. Its sitting on a very rare fengshui plot of land will probably push up VP's psf in the future. Fengshui thingy is quite mysterious and real. Just watch.
Fully sold after waiting a full three years. a good sign? what would be a bad sign? fully sold after 4 years?
800psf? the most recent transactions occurred at 757, 756 and 712 psf. not even close to 800.
one forumer said he paid 820psf? Were you there when he signed the deal? Even if you were, one stupid person making a stupid decision doesn't mean there will be other stupid deals made.
Only the foolish will buy. See below.
Property market may stay quiet for up to a year
A MONTH ago, property consultants were predicting that the cooling market would pick up after June. That optimism has fast drained away.
Consultants now expect home prices and sales to remain weak for up to a year from now, after official estimates yesterday confirmed that price growth was tapering off.
'We can expect residential prices to continue weakening over the next 12 months', in the light of the United States sub-prime debacle and an expected US recession, said Jones Lang LaSalle (JLL).
Other consultancies, such as CB Richard Ellis Research, believe price growth will slow further in the second quarter, to '1 per cent or 2 per cent'.
Home sales are also plunging as buyers retreat - and they are expected to stay low as sellers dig in their heels to wait out the slowdown.
New home sales were likely to have dropped in the first quarter to one of the lowest levels ever, second only to those recorded during the Sars period.
In the secondary market, sales have fallen to 2005 levels, according to estimates from Savills Singapore.
Mid-tier private properties on the city fringe, such as in Novena, Toa Payoh, Marine Parade and Queenstown, are likely to be hardest hit by falling buyer demand.
These areas saw the biggest slowdown in price growth in the first 10 weeks of the year, suggesting that prices in these regions may be peaking, said JLL.
Buyers in these areas have shallower pockets and are more sensitive to market sentiment, it added.
In the HDB segment, prices have stabilised at about $50,000 cash over valuation or less, said Mr Eugene Lim, assistant vice-president at ERA Realty Network.
'Resale flats priced higher than that take much longer to sell or may not sell at all.'
Phillip Securities Research, meanwhile, aired concerns over the 'huge supply' of homes due to be completed in the next two years.
Supply is 'expected to exceed the demand from buyers and result in a slide in local property prices from 2010', it said.
HDB plans to release another 5,000 new build-to-order flats in the next six months. There are also 64,900 private homes in the pipeline, of which 90 per cent will be completed by 2011, while 60 per cent have yet to be sold.
Most experts believe, however, that confidence and demand will return by year-end - as long as the Singapore economy stays robust.
'Sellers now take a while to sell their homes, but there are still buyers,' said Mr Eric Cheng, the executive director of HSR property group.
'Last year, it took maybe a month to sell a home. Now, it takes two months. But in 2000 or 2002, it took a year,' he said.
Bottom line. If you have money whatever you do is right, If you don't then you are foolish.
Property market may (but not necessary) stay quiet for a while if the US sub-prime concern drag on.
Yes, that reporter is right.
Not that the sub-prime concern is going away, the market will not stay quiet at all.
The problem is there but the concern is going away.
So no point bringing up this concern thing since it is going away.
If the concern remain, property market may (but not necessary) stay quiet. Now that it is going away, it will not stay quiet.
Bank news and economic data boosts stocks to a big rally
Joe Bel Bruno
Business Writer
Associated Press
New York, New York, U.S.
Tuesday, 1 April 2008, 7:31PM U.S. EDT
Traders work on the floor of the New York Stock Exchange April 1, 2008. U.S. stocks extended gains on Tuesday, lifting the benchmarks S&P 500 and the NASDAQ up more than 3% as Lehman Brothers Holdings Inc.'s move to bolster its balance sheet calmed worries about the financial sector's stability. - Photo: Brendan McDermid, AP
Wall Street began the second quarter with a big rally Tuesday as investors rushed back into stocks, optimistic that the worst of the credit crisis has passed and that the economy is faring better than expected. The Dow Jones industrials surged nearly 400 points, and all the major indexes were up more than 3%.
Financial stocks were among the big winners after Lehman Brothers Holdings Inc. and Switzerland's UBS AG issued new shares to help bolster their balance sheets. With that upbeat news and a fresh quarter ahead of them, investors appear quite willing to make some bets that the worst of the damage from the nation's credit struggles has been felt. Moreover, the banks' moves buttressed the view that financial services companies are taking aggressive action to improve their capital bases and stave off the potential of a collapse similar to Bear Stearns Cos.
Analysts believe there must be a recovery in bank and brokerages to lead major stock indexes higher. Some of the biggest financial players had their sharpest moves of the year Tuesday — Citigroup Inc. shot up 11%, JPMorgan Chase & Co. rose 9%, and Lehman surged 18%.
"Investors have a difficult time making decisions about the stock market if they don't have confidence in major financial institutions, so there's been a lot of sideline cash," said Richard Cripps, chief market strategist for Stifel Nicolaus. "The extreme conditions that we've seen here over the past few months has been missing that confidence ... but that appears to be changing, and we're seeing the response."
Meanwhile, Wall Street got another boost when the Institute for Supply Management said its March index of national manufacturing activity rose to a reading of 48.6 — indicating a contraction, but a slower one than in February and tamer than many analysts had predicted. Government data on construction spending for February also came in better than expected.
The Dow rose 391.47, or 3.19 percent, to 12,654.36. It marked the eighth-biggest point gain ever for the Dow, and the third time in two weeks it came close to or surpassed 400 points.
Broader stock indicators also gained sharply. The Standard & Poor's 500 index rose 47.48, or 3.59%, to 1,370.18 — the index's best start to a second quarter since 1938. And, the Nasdaq composite index rose 83.65, or 3.67%, to 2,362.75.
The advance was in contrast to a lackluster session on Monday, where stocks managed a moderate gain in the final session of a dismal first quarter. Major indexes ended the first three months of 2008 with massive losses, marking the worst period since the third quarter of 2002 when Wall Street was approaching the lowest point of a protracted bear market.
Renewed enthusiasm that the credit crisis might be waning was also felt in the Treasury market, where government securities fell as investors withdrew money to take bets on stocks. The 10-year Treasury note's yield, which moves opposite its price, rose to 3.55% from 3.43% late Monday. The yield edged up to 3.56% in after-hours trading.
In addition to hopes about the financial sector, Wall Street was relieved to see the feeble dollar regain some strength against the euro. The euro fell to $1.5596 from $1.5785 late Monday in New York.
And there was also optimism that commodities prices, which have hit historic highs in recent months, have begun to retreat. Crude fell 60 cents to settle at $100.98 on the New York Mercantile Exchange after earlier falling below $100. Meanwhile, gold dropped back below $900 an ounce.
"This is a nice way to begin the second quarter," said Todd Leone, managing director of equity trading at Cowen & Co. "All the financials are up big, and there's a sense that things are turning. We definitely have not seen the last of the credit crisis, but we're getting closer."
The stock rally was underpinned by the announcements from UBS and Lehman Brothers that they are boosting capital by issuing new stock. Shares of banks and brokerages hovered near multiyear lows in recent months as investors feared heavy losses from investments tied to subprime mortgages would be overwhelming.
Earlier this month, widespread concerns about Bear Stearns' financial position forced the investment bank to sell itself to JPMorgan in a deal engineered by the Federal Reserve — and that stoked fears that other investment houses might follow.
JPMorgan rose $4.05, or 9.4%, to $47; while Bear Stearns was up 36 cents, or 3.4%, to $10.85 — slightly above the $10 per share acquisition price.
UBS, one of Europe's biggest banks, said it will issue up to $15 billion in new stock and that its chairman, Marcel Ospel, had quit. Investors chose to look past the bank's announcement that it will take a fresh $19 billion write-down due to additional declines in the value of its mortgage assets and other credit instruments, following an $18 billion write-down last year. Its shares surged $4.21, or 14.6%, to $33.01 in trading on the New York Stock Exchange.
Lehman Brothers, dogged by speculation it might reveal losses big enough to cripple the company, on Tuesday raised $4 billion of capital to stymie questions about its financial stability. Lehman rose $6.70, or 17.8%, to $44.34.
The Russell 2000 index of smaller companies rose 22.68, or 3.30%, to 710.65.
Advancing issues outnumbered decliners by about 4 to 1 on the New York Stock Exchange, where consolidated volume came to a heavy 4.65 billion shares, compared to 4.02 billion on Monday.
In overseas trade, Tokyo's Nikkei closed up 1.04%. There were gains in Europe too, with London's FTSE rising 2.64%, Frankfurt's DAX gaining 2.84% and Paris' CAC 40 advancing 3.38%.
Re: Varsity Park (D5, 99 years leasehold, CapitaLand)
Thats a good one!!!! Only fools with no money tends to make so much noise about property crashing.
Thats becos you cant see the gem, I can. Thats the bottom line.
U got it wrong, its one smart person making the right decision while the rest of the fools with no $$$ making no headways.
y do humans need to be puppets? because most have weak spines. or the puppeteer is a control freak who just insist in having her way at all times.
i enjoy being a puppet. its part of my job .
I am going to put an adv in ST my penthouse unit at VP this Saturday for 1080psf. This is your chance to make headways. If we can sign the deal on Saturday evening before 6pm, I think your bold move may even be recognized on Sunday Times
robot nicer or puppet nicer. which gives me faster promotion. i from india.
yup even goh chok tong never make demands on their staff for persnal gain.
1 stupid cock talking cork here.
soharto got like that
this is singapore not india
singaporeans so high and mighty why scared soharto
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