Looks like a lot of people are hoping for 2005/6 prices to make a come back! If this happens, a lot of people will be in shit load of mess....
I do not think this is a good position for the economy, it will not help in the recovery.
Looks like a lot of people are hoping for 2005/6 prices to make a come back! If this happens, a lot of people will be in shit load of mess....
I do not think this is a good position for the economy, it will not help in the recovery.
Hi UN1001,Originally Posted by UN1001
Agree & Well said for the above.
is not hoping, it already happened for stock market, so property market will be the next one, is difficult to avoid lah.Originally Posted by UN1001
THE SEA VIEW AMBER ROAD
Condominium 1 1,617,280 1,216sq ft $1,330psf Sep-08
THE SEA VIEW AMBER ROAD
Condominium 1 2,250,000 1,647sq ft $1,366psf Aug-08
Hello everyone. Heard that SG in recession so i came here
to laugh at you guys. Hip hip hooray!
..........Originally Posted by Ardmore1*
"..... you need to be technically correct when you post.
Singapore government forecasted Singapore in Technical Recession for Q3 2008 based on July and August figures. We will know the September results by the end of October.
Economists forecast lower GDP Growths for the next 2-3 years. They did not forecast Recession. ....."
Just f.y.i..Originally Posted by Ardmore2*
The last "technical recession" occurred in 2002.
The last "recession" occurred in 2001 when the GDP growth was -2.4%.
The Quartz is in my opinion overpriced at $830! Heartland location and with 99 years leasehold and far from city.Originally Posted by What?
Well! You can always buy the HDB flats next to it at $415psf.Originally Posted by NOON
Oct 10, 2008
S'pore slips into recession
# MTI lowers 2008 forecast to 3%, from earlier 4-5%
# MAS moves to ease monetary policy
# Inflation has peaked
SINGAPORE has slipped into its first recession since 2002 after its economy declined for a second straight quarter, prompting the central bank to ease monetary policy favoring gains in its currency in an effort to confront the downturn.
The Ministry of Trade and Industry (MTI) on Friday also revised downwards Singapore's full-year growth forecast to around 3 per cent from an earlier estimate of 4 to 5 per cent, citing a slowdown in the global economy and key domestic sectors.
At the same time, the Monetary Authority of Singapore said it was easing monetary policy for the first time in more than four years. It said on Friday it is shifting to a 'zero-percent appreciation' stance and will intervene to reduce "excessive volatility'.
There will be no re-centering of the band of change in the so-called width, the range in which it is allowed to trade, said MAS.
Central banks around the world are loosening monetary policy and cutting interest rates as an escalating global credit crisis that's toppled banks in the US and Europe saps growth.
MTI said the impact of the worsening US financial crisis and the deepening credit crunch had weakened US consumer sentiment, which will affect demand from Asia and the rest of the world.
On a seasonally adjusted quarter-on-quarter annualised basis, real GDP declined by 6.3 per cent in the third quarter after contracting 5.7 per cent in the previous quarter, the ministry said.
While it did not describe the economy as being in recession, a technical recession is generally defined as two consecutive quarters of contraction in economic output.
Economists polled by Dow Jones Newswires had forecast a 0.3 per cent quarter-on-quarter rise in gross domestic product, the value of goods and services produced in the economy.
Singapore's last technical recession occurred in 2002 while the most recent full-scale recession was in 2001, when the economy contracted 2.4 per cent during the year.
Compared with the third quarter of last year, the ministry said Singapore's economy contracted by 0.5 per cent in real terms, against 0.8 per cent expansion foreseen in the Dow Jones poll.
In August the government had revised down its full-year GDP forecast to 4.0-5.0 per cent but since then, external economic conditions have deteriorated more than expected and some sectors of the economy have weakened significantly because of industry-specific or domestic factors, the ministry said.
'Singapore's export-oriented sectors, such as manufacturing, will be affected,' it added.
Last year the economy expanded 7.7 per cent but after years of growth, signs of a slowdown emerged with recent disappointing trade data and contractions in the important manufacturing sector, which includes the export-dependent electronic and pharmaceutical industries.
In August, key non-oil domestic exports fell for the fourth straight month, with electronic shipments continuing a decline begun in February 2007, while manufacturing dropped by 12.2 per cent.
The August fall in output followed a 21.5 per cent decline the previous month.
The government's preliminary third-quarter GDP estimates are based largely on data from July and August, and are subject to revision.
Inflation peaks
Inflation, which reached a 26-year high earlier this year, has peaked, said MAS. Consumer prices will rise between 6 per cent and 7 per cent this year, and gains will ease to between 2.5 per cent and 3.5 per cent in 2009, it predicted.
'Against the backdrop of a weakening external economic environment and continuing stresses in global financial markets, the growth of the Singapore economy is expected to remain below potential in the period ahead,' said MAS.
'Inflation is expected to trend down in 2009 as the global and domestic economies slow.'
Exports slump
Singapore's US$161 billion (S$239 billion) economy declined 0.5 per cent last quarter from a year earlier, compared with a revised 2.3 per cent gain between April and June.
Growth has deteriorated as a slump in export demand forced factories to cut production, tourist arrivals faltered and a real-estate boom ended, reported Bloomberg news.
The island's manufacturing industry, which accounts for a quarter of the economy, contracted 11.5 per cent last quarter from a year earlier, compared with a revised 4.9 per cent drop in the previous three months, according to today's report.
Singapore's government expects exports to decline as much as 4 per cent this year, and the island's shipments of electronics goods have fallen for 19 consecutive months.
Financial services
Services climbed 6.1 per cent in the third quarter from a year earlier, slowing from a 7 per cent pace in the previous three months. The city-state will probably miss a government target of 10.8 million visitors in 2008, the tourism board said on Sept 23, after visitor arrivals dropped 7.7 per cent in August.
'The financial services sector is likely to see slower growth in the coming months as the ongoing global financial crisis has heightened uncertainties for sentiment-sensitive segments such as stocks trading and fund management activities,' said MIT.
The construction industry grew 7.8 per cent, easing from a revised rate of 19.8 per cent in the previous quarter.
Singapore's benchmark Straits Times Index slumped 7.3 per cent to its lowest level since November 2004 on Friday in opening trade after the economic data and policy statement.
The Singapore dollar rose to $1.4724 per US dollar after the central bank's announcement compared with $1.4780 as traders adjusted positions after the widely expected move. -- AFP, REUTERS
Originally Posted by Ardmore2*Originally Posted by NewsSo these are preliminary numbers based on data from July and August. When can we get the final GDP figure?Originally Posted by singapore
If Q4 growth is higher than Q3 growth, does that mean we need another 2 slowing quarters after Q4 to get another technical recession?
Would think another crash akan datang.. Another ERP near amder rd soon ?
Am so bullish on the future.. Better scale down my expectation of price to buy..
...........
wHy behave so childishly by saying ERP and all sort of silly things - it justOriginally Posted by seaview_800psf
doesnt make sense - either your level of ed is low or u r just a kid posting here on this forum !!!
I dun believe when Lehman collapse.. I dun believe when I heard AIG goner earlier.. And I dun believe when I am hearing Morgan Stanley, Goldman sach in trouble.. RBS and Barclays asking for captial injection too .. Now USA and the G7 recognise it as the most serious finanical crisis. Do you believe ?
I really dun know... Tis the golden age.. Some may still inclined to think so..
Golden age in USA or Europe? Who told you there is gonna be one? You dreamin' of what? The world is changing.Originally Posted by Belief
I think his post was being sarcastic. He was making fun of those that "dun believe" even when the world is crashing right in front of them. You postings are much consistent with each other. Its just very hard to understand because of the bad english.Originally Posted by What?
Can we please have more productive postings in this forum?
... but if he say a golden age will be coming to Asia, I would have supported him.Originally Posted by Sarcastic
Empire comes and goes.
New caveat that was just released....upto 03 Oct 08
Unit_____SQFT___psf,$____Total______Contract date
17-2X___ 1518___ 1100___ $1,669,800__ 29Sep08 --- NEW
08-0X___ 1216___ 1330___ $1,617,280__ 19Sep08
15-0X___ 1647___ 1366___ $2,250,000__ 21Aug08
06-0X___ 527____ 1505___ $793,000____ 20Aug08
18-0X___ 1216___ 1350___ $1,641,600__ 14Aug08
09-1X___ 1647___ 1450___ $2,388,150__ 08Aug08
02-0X___ 1518___ 1028___ $1,580,000__ 04Aug08
21-0X___ 1410___ 1348___ $1,900,000__ 01Aug08
20-2X___ 1647___ 1166___ $1,920,000__ 23Jul08
05-1X___ 1410___ 1410___ $1,480,000__ 16 Jul08
03-11___ 1410___ 1277___ $1,800,000__ 18Jul08
03-22___ 1410___ 1550___ $2,185,500__ 17Jul08
05-15___ 1410___ 1050___ $1,480,000__ 7Jul08
14-08___ 1216___ 1260___ $1,532,160__ 30Jun08
20-20___ 560____ 1289___ $716,800____ 26 Jun08
03-15___ 1410___ 1028___ $1,450,000__ 17Jun08
09-14___ 1647___ 1450___ $2,388,150__ 13Jun08
12-21___ 1216___ 1065___ $1,295,040__ 12Jun08
08-15___ 1410___ 1100___ $1,551,000__ 10Jun08
High floor at $1,100 psf.......
Unit face Rose Garden with West Sun la...
Originally Posted by Real Estate Pundit
Originally Posted by Unregistered123
you know the stack?
either stack 24 or 25 - 1518sq ftOriginally Posted by Joe6816
direct face nursey and west sun
complains from residents staying in those stacks that its very hot
in living / dining and rooms, - worse for Penthouses.....
1100psf is good for seller as developer sold these stacks avg 650-700
as considered not good facing
Originally Posted by Uregistered
stack 25. Buyer I know who. Almost didn't exercise due to some issue.
Relax lah! Nothing beats getting a good house to enjoy yourself. District 15 is the correct place for that. Just look at Silversea recent launch and you will know.Originally Posted by What?
Originally Posted by URAOriginally Posted by Transformer
Well there is a quote from bible
Nothing is impossible....
Look around newton or novena..
Those projects that fully sold
Always Put Thank God...
Dont want to comment too much on it
The Bear will not shaken The faithful ones
supestition get ppl no where. Buy with ur eyes open!
Meaning .......?Originally Posted by god willing
Agent reported that Stack 6 or Stack 8 - 1518Sqft High floor unit only rent out Super low @ 5K per month for fully furnished.Originally Posted by Uregistered
Owner are Panic to sell or lease out apartment now.....
... and you believe him? You just want you to sell so that his deal can be close and he can get his commission.Originally Posted by Panic Owner
Are we near the kind of economic difficulty faced during the Great Depression? The US economy today is much stronger than it was in 1929 and the fundamentals are still pretty strong regardless of the crisis we're in.Originally Posted by What?
If you look at the numbers, they are so dramatically different. GDP growth in the US is about 1% and I'm sure it will fall but it is nothing like the -27% during the Great Depression. Unemployment is about 6.1%, but during the Great Depression it was 25%.
Today's world is very different from the Great Depression period - there is greater linkage between fiscal policies and the economy than before and all policymakers are working together. So we are not even close to the level of difficulties faced then.