Junior
Or could it be that she has seen the apparition a Saint appearing on top of a Pinnacle?Originally Posted by Reporter
If they have confidence in the country and support the Government, then prices ‘müst gö üp’ as they have every year since 1965, he said, in response to reporters asking what he would say to young couples lamenting the sharp price increases in recent years.
Newbie
Why has prices increase taken place only in the last few years?
Is there is a likelihood prices will stay dormant for the next 10 years around this level or does anyone foresee a upward swing cycle like in 1996 followed by a depressed period.., thus ending up where we are now.
F01 N54 Sheer Driving Pleasure
I celebrate Mickeymousation with Ö?..........
..........
How come nowadays your posts got so many Mickey Mouses?
Ö
Is it to celebrate the arrival of Mickeymousation?
I dunno man. I seldom mention MMs in my posts.
Wait ... unless ... it is my subconscious that has been influenced by MM lately.
Wah! Is MM so influential and powerful?
"Singaporeans can expect the prices of HDB flats to këëp ön rïsïng as long as the economy continues to grow, Minister Mentor Lee Kuan Yew said yesterday."
F01 N54 Sheer Driving Pleasure
Wait a minute!
This article is written by a Political Correspondent - not a Property Correspondent.
Err ... are you implying Fiona Chan has joined her colleague Zakir Hussain, the political correspondent, in süppörting the ...?
Err ... are you implying that süppörting the prices ‘müst gö üp’ is politics?
Junior
Read MM's statement carefully ...
"If they have confidence in the country and support the Government, then prices ‘must go up’"
In other words, if you do not want prices to go up, that means you:
1. Have no confidence in the country.
2. Do not support the Government.
Newbie
It means the GE is coming.
It means you all better know how to "cho lang"
Only then can your property value be assured of appreciation.
Although lift upgrading is no longer the dangling carrot, the way the game is being played remains very much the same - It's still the carrot that matters!
Senior
Free upgrade to condo for everyone who vote for pap....It means the GE is coming.
It means you all better know how to "cho lang"
Only then can your property value be assured of appreciation.
Although lift upgrading is no longer the dangling carrot, the way the game is being played remains very much the same - It's still the carrot that matters!
F01 N54 Sheer Driving Pleasure
Singapore employment up
AsiaOne
Tuesday, 15 December 2009
Total employment for the 3rd quarter of 2009 grew by 14,000, offsetting the losses of 6,200 and 7,700 in the 1st and 2nd quarters of the year respectively.
This increase resulted in the total employment in September 2009 recovering to around Dec 2008 level.
Services and manufacturing continued to expand at a higher rate - 12,700 and 7,400 respectively - than previous quarters. Manufacturing continued its 4th consecutive quarter of decline, albeit at a lower rate (-6,400) than the 1st 2 quarters of the year.
Meanwhile, the unemployment figure rose slightly to a seasonally adjusted 3.4% in the 3rd quarter of 2009, from 3.3% in June 2009, but below the peak of 4.8% in September 2003 due to the SARS outbreak.
However, among the resident labour force, the rate increased to 5% in June 2009. Long term unemployment has also risen, with the number of job seekers looking for a job for over 25 weeks almost doubling from 9,600 in September 08 to 18,400 in September 09.
Re-employment rose as well, with over half of residents retrenched in the 2nd quarter of the year re-employed by September 2009.
Job vacancies also rose 34,900 in September 09, up 42% from June 09.
Junior
Dec 15, 2009
Private home sales slow
By Joyce Teo, Property Correspondent
Home transactions have declined since peaking in July. -- PHOTO: EYEB
PRIVATE home sales slowed for a fourth straight month in November.
Developers sold 600 new units in November - down from 811 units in October and 1,143 units in September, according to data released by the Urban Redevelopment Authority on Tuesday.
But developers launched 923 units last month, more than the 566 units in October. Experts have said that the market is just taking a breather, following months of hectic sales around the middle of the year, which peaked at 10,000 units in July.
The increase prompted the government to announce that it will sell more land sites and ban interest-only mortgages for uncompleted homes as part of measures to prevent excessive price swings. The top-seller last month was Parvis in Holland Hill. Ho Bee launched 130 units in the condo project and sold 103 of them at a median price of $1,507 per sq ft.
Home prices rose 15.8 per cent in the third quarter, the first increase in more than a year and the biggest quarter-on- quarter gain in 28 years, the URA said last month. URA is expected to release its preliminary estimate for fourth-quarter prices on Jan 4.
The top-seller last month was Parvis in Holland Hill. Ho Bee launched 130 units in the condo project and sold 103 of them at a median price of $1,507 per sq ft. Marina Bay Suites also sold 87 units last month at an average price of S$2,159 a square foot.
F01 N54 Sheer Driving Pleasure
DBS CEÖ Gupta says bank will do a löt of hiring next year
Bloomberg
Singapore
Wednesday, 16 December 2009, 5.58pm CCT
DBS Group Holdings Chief Executive Officer Piyush Gupta said the Singapore-based bank will do a lot of hiring next year and that demand for personnel is beginning to pick up. Gupta was speaking at an industry event in Singapore today.
F01 N54 Sheer Driving Pleasure
ANZ plans to döuble headcount in Singapore to 1,5ÖÖ next year
Bloomberg
Singapore
Wednesday, 16 December 2009, 6.01pm CCT
Australia & New Zealand Banking Group plans to double its headcount in Singapore to 1,5ØØ next year, Bill Foo, the head of the bank’s business in the city- state, said at an industry event today.
F01 N54 Sheer Driving Pleasure
Industry leaders büllïsh over hïrïng outlook for fïnäncë sector
Ryan Huang
Channel NewsAsia
Wednesday, 16 December 2009, 2138 hrs
Office workers are seen during a lunch break at the financial district in Singapore.
Industry leaders said the fïnäncë sector is expected to ïncrëäsë hïrïng next year.
Speaking at an industry forum on Wednesday, they said with the economy rëcÖvërïng, more companies are expected to list or issue bonds. This will lead to more banking services and increased demand for talent, especially in capital markets.
The Financial Training Institute at SMU said there have already been more enquiries from the industry for training in areas such as capital markets. SMU is rolling out more than 30 programmes next year, of which 17 are new.
Professor Annie Koh, Dean, Office of Executive & Professional Education, SMU, said: "Definitely we are going to see demand for banking services, transactions, and consumer banking services and wealth management services.
"Therefore you need to have the back-end and middle-market trained to prepare for that front-end movement."
Overall, industry growth in the region will also be driven by rising äfflüëncë in Asia.
To develop and retain talent, forum participants said banks are increasingly looking at moving people between departments to grow their skills. These include transfers between various operations within the company such as back, front and middle office operations.
Piyush Gupta, CEO, DBS Bank, said: "I find that companies where people are given the opportunity to have lateral mobility, create a lot of talent, and create people who are extremely well-rounded.
"In my previous company, you could move wherever you wanted to as long as you put your hand up and say 'I want to move', people encourage you to move. And frankly in my current company, that is something that I hope to be able to institute."
The finance sector contributes 13% of Singapore's GDP and hires 5% of the local workforce.
Junior
For those who have any doubts about the strength of the property market, read this:
The only word to describe this is "relentless".Business Times - 17 Dec 2009
Banner year for good class bungalows
Demand looks robust going into new year after the $1.6b chalked up in 11 months
By KALPANA RASHIWALA
The number of GCB deals priced at $1,000 per square foot of land area and above has also risen from zero in 2006 to nine in 2007, 12 in 2008 and 24 in 2009.
Sigh ...
F01 N54 Sheer Driving Pleasure
Singapore exports rÏsË for first time in 19 mÖnths in November
Bloomberg
Singapore
Thursday, 17 December 2009, 1.26pm CCT
Singapore’s exports rose for the first time in 19 months in November as a recovery in the global economy boosted demand for pharmaceuticals and reduced a slump in electronics sales.
Non-oil domestic exports climbed 8.7% from a year earlier, after a revised 6.2% contraction in October, the trade promotion agency said in a statement today. The median forecast of eight economists surveyed by Bloomberg News was for a 2.2% gain.
Singapore, whose economy expanded in the six months through September after a yearlong contraction, is dependent on a revival in overseas sales to sustain its recovery. The government said last month it doesn’t expect a return to recessionary conditions even as the outlook for the second half of 2010 remains uncertain.
Export growth “will likely accelerate in the coming months as external demand gradually recovers,” said Mitul Kotecha, Hong Kong-based head of global foreign-exchange strategy at Calyon, the investment banking unit of France’s Credit Agricole SA. “However, we do not expect to see a large sequential improvement in the fourth quarter and 2010 on the back of fragile growth in major developed countries.”
A rebound in industrial production has helped Singapore emerge from its worst recession since independence in 1965. The government last month raised its 2009 forecast for exports, predicting shipments may drop 10% to 11%, less than the previous estimate for a decline of as much as 12%.
Exports may increase 10.1% next year after sliding 12% in 2009, according to the median forecast in a quarterly survey of economists by the Monetary Authority of Singapore released last week.
Electronics Fall
Singapore’s non-oil exports rose a seasonally adjusted 19.8% last month from October, when they slid a revised 12.7%, today’s report showed.
Electronics shipments dropped 6.1% in November from a year earlier to $4.6 billion, after a 13.8% decline in October.
Non-electronics shipments, which include petrochemicals and pharmaceuticals, rose 19% in November after declining a revised 0.6% in October. Pharmaceutical shipments gained 78%.
The performance of Singapore’s pharmaceutical industry is volatile as production swings by companies such as Sanofi- Aventis SA can cause industrial output to fluctuate from month to month. Drug companies sometimes shut plants for cleaning before making different products.
F01 N54 Sheer Driving Pleasure
Asia will lead recovery in 2010
Suresh Menon
我报
Thursday, 17 December 2009
Unprecedentedly aggressive fiscal and monetary stimulus measures mean the developing world will recover quickly compared to the rest, according to a report.
China and India will once again be the world's fastest growing major economies.
The cyclical economic upswing in the developed world will continue into the early part of next year, and downside risks will need to be tackled delicately, according to the report by the Economist Intelligence Unit (EIU).
The governments will, however, have to do a balancing act.
Fiscal discipline will have to be maintained even as the withdrawal of stimulus measures starts to slow the recovery.
The EIU report said the Middle East and Africa will be the best-performing regions of the world, thanks to increased oil production and investment in infrastructure.
"Although we maintain that the crisis has already inflicted its deepest wounds, its impact will continue to be felt throughout next year. Moreover, downside risks to economic stability still abound," the EIU report said.
New asset bubbles could follow monetary easing and countries with heavy borrowings will face deflationary pressures.
Compounding the economic woes will be social and political unrest due to unemployment, when governments take austerity measures.
Yesterday, a Chinese survey said an increasing number of Chinese residents are unhappy about inflation. Nearly half of them said overall prices are "too high and unacceptable", according to a quarterly survey by the People's Bank of China.
Rising public discontent over inflation could put more pressure on Beijing to consider tightening monetary policy more quickly than is currently expected, even though the official measure of consumer prices turned mildly positive only recently.
China's consumer prices rose 0.6% last month over a year earlier after nine straight months of declines.
World GDP growth will rise to 3.2% next year, compared with a contraction of 1.2% this year, the EIU report predicts.
The EIU's crystal ball also says Qatar will be the world's fastest-growing economy for the 2nd consecutive year as 3 new liquefied natural gas "super trains" come on stream.
Meanwhile, Japan will be overtaken by China as the world's 2nd-largest economy.
As for political predictions, the report says Yemen risks disintegration, as the government struggles to cope with the threats posed by rebels in the north, a secessionist push in the south and the presence of Al-Qaeda.
And the recovery is not going to be across the board. The report says 12 countries will still experience economic contractions.
Nearly half of these are in eastern Europe. Together with western Europe, the region will be home to 15 of the world's 20 slowest-growing countries.
Another well-watched survey confirmed yesterday that business activity in manufacturing and services has increased across the euro zone this month at the fastest rate in two years.
The purchasing managers' index for the 16 countries using the single currency, compiled by data and research group Markit, rose to 54.2 points from 53.7 points last month, its highest reading since October 2007. However, analysts warned that despite the "encouraging" data, prospects for a spurt in growth early next year remain limited, with a "levelling off" being observed despite a favourable policy environment.
"The euro-zone economy is ending this year on a positive note, with business activity and new orders growing at their fastest rates in over two years this month," said Mr Chris Williamson, Markit's chief economist.
"Nevertheless, the euro zone still faces a challenging economic environment and there continues to be a very real risk that the upturn could falter next year."
F01 N54 Sheer Driving Pleasure
Singaporeans to spend more next year
Dawn Tay
我报
Thursday, 17 December 2009
More Singaporeans plan to loosen their purse strings as the economy recovers, though prudent spending will still be on the cards for some time.
About 1 in 7 respondents in MasterCard's latest survey on consumer habits plan to spend more in the next six months up from just 3% in its previous poll six months ago, before the economy turned in the third quarter.
And the areas that they are most willing to spend on are food and entertainment; consumer electronics; and fashion and accessories.
Fewer people also said that they would tighten their belts and decrease their spending on non-essential items 30% now, down from 41%.
But, reflecting the caution which is still lingering as the economy is not yet in the pink of health, more than half of those surveyed said that they plan to maintain the same amount of spending on non-essential items into the first half of next year.
The results of the survey on 400 people here polled between Oct 1 and Nov 9 this year were released on Tuesday.
MasterCard Worldwide economic advisor (Asia-Pacific, Middle East and Africa) Yuwa Hedrick-Wong said that the latest findings are "positive for a stronger outlook of domestic consumption next year".
He said: "As global economic conditions continue to stabilise and trade starts to revive, barring any unexpected shocks to the economy, we expect private consumption to continue to grow."
Indeed, some restaurants said that they are seeing stronger demand.
Les Amis group of restaurants' spokesman, Mr Raymond Lim, said that business has picked up by around 30% between the lowest point in March this year and now.
However, he does not expect a huge jump in business during Christmas.
He said: "It has been a bad year and people are still cautious about spending. They're trying to get the greatest value for money, for example, by ordering cheaper wines. "But they will still spend as they still want to find an excuse to have a good time during this festive period."
The last few months have seen an increase in credit-card expenditure, with figures from Credit Bureau (Singapore) also pointing towards an "improving consumer confidence that the economy and job markets are in recovery phase", said its executive director, Mr William Lim.
This year, bank executive Pee Xiao Juan, 25, will not be cutting back on gifts for Christmas, like she had to do the previous year. Miss Pee said: "If I see something that I know my friends and family will love, I'll just tighten my own expenditure a little and buy it for them."
Newbie
such an unfortunate name. that's why i support hanyu pinyin spelling for singkie names. otherwise her ang mor boss at her bank will laugh until balls drop when drinking with his buddies at the British Club while making fun of Singkies.
This year, bank executive Pee Xiao Juan, 25, will not be cutting back on gifts for Christmas, like she had to do the previous year. Miss Pee said: "If I see something that I know my friends and family will love, I'll just tighten my own expenditure a little and buy it for them."
Newbie
Hong Kong Risks ‘Sharp Corrections’ in Asset Prices (Update3) By Sophie Leung
Dec. 17 (Bloomberg) -- Hong Kong’s central bank said the city may face “sharp corrections” in asset prices should fund flows reverse, adding to concerns voiced by Japan, China and South Korea on the dangers of speculative capital.
......
“We have a U.S. dollar carry trade at the moment,” Tsang said. “Where is the money going -- it’s where the problem’s going to be: Asia. You can see asset prices going up, not only in Korea, in Taiwan, in Singapore and in Hong Kong, going up to levels that are incompatible or inconsistent with the economic fundamentals.”
Is the party coming to an end?
F01 N54 Sheer Driving Pleasure
Wah! Hotter than bakkwa (肉干) leh.For those who have any doubts about the strength of the property market, read this:The only word to describe this is "relentless".Business Times - 17 Dec 2009
Banner year for good class bungalows
Demand looks robust going into new year after the $1.6b chalked up in 11 months
By KALPANA RASHIWALA
The number of GCB deals priced at $1,000 per square foot of land area and above has also risen from zero in 2006 to nine in 2007, 12 in 2008 and 24 in 2009.
Sigh ...
来临农历新年 肉干料会涨7至10%
林道生
新明日报
星期四, 17-12-2009
“林志源”老板：我们还是有自己的古老秘方肉干！（图／档案照）
由于原材料价格上涨，明年春节期间的肉干价格也会水涨船高。
业内人士反映，在接近年关时，肉干价格将会“步步高升”，至少比现在贵7%到10%。
肉干店老板受访时异口同声说，过去一两个月，肉干的主要原料猪肉的售价上涨了10％到20％，另一主要原料白糖的价格也持续上涨，刚刚又上涨了5％，50公斤庄达到56元。
目前，一些主要的肉干店，肉干售价为每公斤42元到45元。
随着经济复苏，市场一片景气，明年春节的肉干价格，极有可能突破今年春节期间的最高售价，即：每公斤50元。
来临春节将掀肉干大战
距离明年农历新年还有大约2个月，狮城肉干商已经摩拳擦掌，来临农历新年，看来会掀起一场肉干大战！
最近，供应肉干给“林志源”的肉干批发商“金裕源”，自行在桥南路开设一家“金裕源”肉干零售店，成为市场关注焦点。
“金裕源”已经开始通过手机短讯、网上的“Face Book”等途径，要求消费者订购，以便在农历新年到来之前拿货，避免排队。
“金裕源”第二代掌舵人王威达说，目前他们还是照样赶货给“林志源”，不过也积极开展自己的零售店业务，为明年春节业务进行促销。王威达以及他的合作伙伴郭进维说，他们只是会在肉干的品质、包装、服务上进行竞争，不会展开削价战。他们说，金裕源的产品包括：传统肉干、辣椒肉干、三层肉干、三种口味的肉松。
“林志源”的老板林琰喜表示，他们还是以古老的秘方生产肉干，产品包括：牛肉干、鸡肉干、虾肉干、鱼肉干、金钱肉、三层肉干等。
F01 N54 Sheer Driving Pleasure
Rosy salary rise projections
Rachael Chang
The Straits Times
Thursday, 17 December 2009, 10.25 pm
It is the rosiest projection among at least 4 companies that have recently given their forecasts for next year.
With the recession over, the question among workers now is how well companies will pay them next year.
On Thursday, human resource consultancy Mercer Singapore threw its hat in the ring with a forecast of a 3.2% rise in salaries.
It is the rosiest projection among at least 4 companies that have recently given their forecasts for next year.
Mercer based its projection on its survey, done in October, of 262 companies in 11 industries.
Expected to give top dollars are pharmaceutical, which plans to hand out 4.1% more, and high-tech companies, at 3.3% more. The banking and finance industry plans to give a 3.1% pay rise, a quick rebound over this year's average increment of less than 1.5%.
Only 15% of the companies intend to freeze salaries next year, compared with 35% that did so this year.
Junior
House price goes up, food price also goes up.
Then will this Gingerbread House's price also go up?
Senior
Rosy salary rise projections
Rachael Chang
The Straits Times
Thursday, 17 December 2009, 10.25 pm
It is the rosiest projection among at least 4 companies that have recently given their forecasts for next year.
With the recession over, the question among workers now is how well companies will pay them next year.
On Thursday, human resource consultancy Mercer Singapore threw its hat in the ring with a forecast of a 3.2% rise in salaries.
It is the rosiest projection among at least 4 companies that have recently given their forecasts for next year.
Mercer based its projection on its survey, done in October, of 262 companies in 11 industries.
Expected to give top dollars are pharmaceutical, which plans to hand out 4.1% more, and high-tech companies, at 3.3% more. The banking and finance industry plans to give a 3.1% pay rise, a quick rebound over this year's average increment of less than 1.5%.
Only 15% of the companies intend to freeze salaries next year, compared with 35% that did so this year.
historically, salary is always the last to go up ...
and usually go up less than food and housing prices ...
F01 N54 Sheer Driving Pleasure
Err ... Gingerbread House's price going up?House price goes up, food price also goes up.
Then will this Gingerbread House's price also go up?
I know The Sail @ Marina Bay's price is going up but I am not sure about Gingerbread House's.
Is Gingerbread Man buying?
F01 N54 Sheer Driving Pleasure
OK OK! Your M$ckeymousat$on wins! Reporter has nothing more to say...........
..........
How come nowadays your posts got so many Mickey Mouses?
Ö
Is it to celebrate the arrival of Mickeymousation?
F01 N54 Sheer Driving Pleasure
My goodness!
Prices of Nuovo EC cross $600psf on 'Centro-effect'
The Edge
Monday, 5 October 2009
There’s been a spurt in sales at Nuovo in Ang Mo Kio recently, after the executive condominium (EC) crossed the 5-year minimum-occupation period. Seven units changed hands from Sept 4 to 11, according to caveats lodged with URA Realis. In 2006 and 2008, there was only 1 transaction each, and 2 deals in 2007. Owners who sold recently are taking advantage of the “Centro-effect”, caused by the launch of giant property developer Far East Organization’s 329-unit Centro Residences in Ang Mo Kio Avenue 8. Units there have been sold at an average of $1,179 psf from its launch in August to Sept 11, according to figures from URA Realis. Between Sept 4 and 11, an 893 sqft unit sold for $1.07 million, or $1,199 psf.
Given that it’s a private condominium, Centro Residences doesn’t have the same restrictions that Nuovo, an EC, has. Under HDB rules, owners of ECs are only allowed to sell their units to Singapore citizens or permanent residents 5 years after the project receives TOP, which, for the 297-unit Nuovo, was in 2004. It’s only 10 years after TOP that units in ECs can be traded like any other private condominium in the resale market, with sales to foreigners allowed as well.
However, the owners of Nuovo should be delighted at transaction prices in the range of $477 to $637 psf, as they are the highest achieved since the property was launched at end-2001. Prices at that time were hovering at $400 psf.
For instance, a 1,119 sqft unit on the 9th floor went for $710,000, or $634 psf. This is a gain of 52% for the original owner, who had purchased it from developer CDL for $467,276 in 2002. A larger unit on the 17th floor went for $1.2 million, or $477 psf. The 2,594 sqft condominium was purchased for $812,746 in 2001.
..........
..........
We know condos have been breaking high but ECs ...
Just look at Nuovo EC.
It has broken its last high of $637 psf with $646 psf!
Nuovo
Address .......................................... psf ............... Area ............ Price ........... Contract Date
23 Ang Mo Kio Avenue 9 #15-10 ..... $646 psf ..... 1,281 sqft .... $828,000 ..... 6 Nov 09
Junior
I found out during Hansel and Gretel's time, a loaf of bread cost one penny, and a house $500.
The house's info is from this guy below, who checked up the price of his house (Wow ... in the US they can check up to more than 100 years back!)
Now a loaf of bread costs around $1 and the house around $58,500.
Unfortunately, I can't find the price of Gingerbread House.
I wonder how much that witch rented it for?
How much did a house cost in the 19th century?
I'm researching my house's age (I'm in Davenport, Iowa), and the lot (you can't tell from the abstract if there was a house on the lot or not! - Iowa uses abstracts rather than title opinions, so oftentimes one gets an abstract of title back to the days of the indians).
In 1856, it sold for $500, and then in 1869 for $3,000. from the style of the house, (5 marble fireplaces, etc.) it dates from the 1860's, but there is a strange "core" that seems earlier, and I'm wondering if there was a structure there in 1856 (prior to this the lot was part of a larger parcel, and the area was subdivided in the 1850's)
BTW, I paid $58,500 a couple months ago. Yes, its a good neighborhood.
F01 N54 Sheer Driving Pleasure
Money means holding power. $333 bïllïon is money. $333,000 për höusehöld is also money.
What you need to know about your CPF
Larry Haverkamp
The New Paper
Friday, 18 December 2009
We have just over $333 bïllïon invested in our CPF accounts, including housing and investments. It's an incredible $333,000 për höusehöld and makes up most of our savings.
..........
..........
Junior
While we are still arguing about whether the property market is going up or down, there is one segment which has quietly surpassed its previous all-time high.
The Straits Times
Dec 18, 2009
PRICES of prime resale landed homes have risen 18.6 per cent this year to reach a new high of $1,447 per sq ft, said a report by DTZ Research on Friday.
It has easily surpassed the previous peak levels achieved in the first quarter of last year when prices of this segment reached $1,293 psf.
F01 N54 Sheer Driving Pleasure
Done Deals
City Square Residences resale prices above $1,000 psf
The Edge
Monday, 14 December 2009
Since June this year, transaction prices of apartments at the 910-unit City Square Residences in the secondary market have increasingly crossed $1,000 psf, hitting a high of $1,271 psf in August, when a 570 sqft studio apartment on the 26th floor of one of the two 30-storey towers was sold for $725,000. Since October, however, more units have been changing hands in the resale market at prices above the $1,000 to $1,100 psf range.
There has also been an increase in transactions last month. In November, up to the latest caveat lodged on Nov 18 — for a three bedroom 1,518 sq ft unit that changed hands for $1.49 million — there were already eight transactions at City Square Residences, compared with seven recorded in October, according to the URA Realis database of caveats. The buoyant prices at City Square Residences can be attributed to the launch of the 40-unit boutique-apartment project City Loft on Race Course Road by Oxley (Ascend Capital Pte Ltd) in late October, where units were sold at $999 to $1,154 psf, according to caveats lodged. The development is made up of 34 units of studio apartments ranging from 322 to 419 sqft and six two-bedroom “penthouses” of 742 to 904 sqft.
In contrast, the massive City Square Residences, easily one of the largest condominiums in the vicinity (if not the largest), has a wide mix of larger units catering to families, with two-bedroom apartments of 840 to 1,302 sqft, 3-bedroom apartments of 1,195 to 1,830 sqft and 4-bedroom apartments starting from about 1,500 sqft. Even the studio apartments are around 570 sqft.
Another reason for City Square Residences being on the radar of homebuyers of late could also be the opening of City Square Mall, with over 700,000 sqft of retail space and 300 shops, in November. Among the many shops and F&B outlets in the building are an NTUC Fairprice supermarket, a Metro department store and a KopiTiam food court. Developed by City Developments Ltd (CDL), the developer for City Square Residences, the mall is conveniently located right next to the condominium project and linked underground to the nearby Farrer Park MRT station.
The freehold condo project was launched in April 2005 at an initial average selling price of $560 psf, and given its location on the fringe of the city and next to the MRT station as well as a shopping mall, the project had attracted the interest of both owner-occupiers and investors. The project was sold out within months of its launch. Prices have certainly appreciated in the last four years, and transaction prices in recent months have even exceeded the levels seen from 3Q2007 to 1Q2008, at the peak of the property boom. From Nov 13 to 20, three units changed hands in the resale market at $982 to $1,121 psf.
For instance, a three-bedroom, 1,216 sqft 5th-storey unit in one of the two towers changed hands in a resale at $1.23 million, or $1,011 psf, according to a caveat lodged on Nov 17. This was the second time the unit has changed hands in the secondary market. The first time was just a year ago, when the previous owner paid $899,800, or $740 psf, for it. Thus, he enjoyed a capital upside of 36.7% in just a year. The original owner purchased it from the developer in August 2005 for $782,100, or $643 psf, a 15% appreciation.
Meanwhile, a two-bedroom, 861 sqft unit on the 23rd floor of one of the twin towers was sold for $965,000, or $1,121 psf. The previous owner had purchased it for $720,000, or $836 psf, in January when the project was close to completion, enjoying a 34% gain in less than 12 months. The first owner bought the unit when it was launched, for $576,000, or $669 psf, enjoying a 25% capital gain. With amenities like shopping mall and MRT in place, and just a short walk from vibrant Little India, it’s no wonder that prices at City Square Residences have been on the rise.
Senior
met a singaporean in NY last weekend
and he has an interesting take ...
HDB is public housing .. meant for the people ... something affordable .. especially to those with lower income ...
HDB are built on state land .. so HDB should be sold , on material cost, construction labor cost etc etc ... and SHOULD NOT charge on land cost ...
so regardless woodlands, sengkang or Dawson ...ALL HDB SHOULD BE SAME PRICE ...go on ballot system ..
after all HDB are public housing meant for the people ..
why have different pricing for different location ???
by selling HDB at different location at different price .. govt is setting a base for private housing ..indirectly 'supporting' the private housing prices .. forcing the 'not so rich' to move out to outskirt areas.. creating a 'rich zone' and 'poor zone' ..
if HDB is sold same price everywhere ..and sold on ballot system .. everyone is given a chance ..
THATS true equality ..
this singaporean does have a point ...
Posting Permissions
Reply With Quote
