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Thread: Property market sentiments?

  1. #1411
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    Quote Originally Posted by Property_Owner
    True. How to store the oil or sugar? Unless you owns an Oil field or Sugar plantation.
    You don't need to physically own oil or sugar. You can own shares of oil companies and plantations. I would buy companies that mine uranium too.

  2. #1412
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    Problem with that is that in paper you are 1 of the owners, in real life your money may get siphoned away by the management (they are the 'real' owners) [too many cases happened already!]. Then you could still end up with nothing! Basically you don't enjoy the real ownership (and the real benefits from the upside) as with properties.

    Quote Originally Posted by stalingrad
    You don't need to physically own oil or sugar. You can own shares of oil companies and plantations. I would buy companies that mine uranium too.

  3. #1413
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    I think more like 2011 to 2013 (2013 more for mass market), so far statistics don't show too many completions in 2010 but you are right, most definitely a lot of CCR projects still form the bulk for 2010. Some people have said Singaporeans are so rich they don't need to rent out their apartments, can leave empty. We shall see.

    Hillcrest Villa at 7k still can 'dong' for now, until interest rates rise. Problem is at 7k, only some units are taken up. 100 to go and asking 9 to 12k Duchess Residences? different...more high end and 'exclusive' but i don't know what's the target market, seems neither here nor there. Out of 120 units, 24 penthouses and 24 garden mansionettes sold at almost 5m to more than 6m. surely, if you are targeting the 12k budget, they have many better choices nearer to town. 3 bedrooms costing 2.5m to 3m will be competing with Hillcrest Villa's 3000sq ft villas for rental and there are still so many vacant units at hillcrest villas.


    quote proud owner

    "rental will continue to weaken in my opinion ...esp come 2010-2012 alot alot of launches wil TOP ...

    i just woinder how many buyers along newton circle/ novena area ..to king albert park ... ( i lost count how many condos, new and old) will be able to rent out their unit at a reasonable price ...enough to cover mortgage, maintenance, tax etc ..

    if Hillcrest Villa(near NJC) ..sold between 2.5-3.0 mio .. only managed to rent out at 7k ... does it cover cost? or any profit at all ?

    even if it just covers cost .. the opportunity loss, in putting money in that project, tying up cash, CPF, etc ..just not worth it ...

    i cannot imagine those who paid more than 3mio(like Duchess residences, near HJC) ... they will be asking for 12-15k rent .. and who is going to pay that amt ?? if they can get 7-8k across the road at Hillcrest ?

    just a thought thats boggling my mind" unquote

  4. #1414
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    thanks for the illustration, was too busy yesterday to try one and there were too many to choose from. I don't think it only affects just speed readers. It should affect most readers as the coloured and bigger font would draw your attention to them with a lesser tedency to focus on the smaller words.



    Quote Originally Posted by proud owner
    i have nothing against Reporter ... i agree it takes alot of time .. to monitor all the news ..and he post them so quick..its fresh from the oven .. not forgetting he has to enlarge and color the key words ..

    good job ..


    but for people who are trained to 'speed read' ... they go straight to the colored and enlarged words .. and pick up only certain points ...

    take this example :

    Private home prices here are expected to hit a new high in 2010 and perhaps rise even further after that, should the economy continue to grow.

    many idiot readers ( i believe exists in this forum) will immediately focus on
    hit a new high in 2010 and rise even further

    what if now we change the high light in the same sentence :

    Private home prices here are expected to hit a new high in 2010 and perhaps rise even further after that, should the economy continue to grow.

    it does change the emphasis a little ..to one of ' ONLY IF ECONOMY continues to grow .."

    then the 'speed reader' will see it as an uncertainty in the economy ...so maybe it will not rise to a new high ...


    this i believe is what Bargainhunter was implying .. the high lighting and coloring indeed have an impact on the readers ..


    dont get me wrong Reporter ... like i said in the beginning of this post.. i am not complaining .. i praise your efforts...

    quote Reporter,

    "It seems to me that you think being a hypocrite and making personal attacks are right but posting news and highlighting are wrong. If that is your stand, I have nothing else to say and will remain silent over your postings.


    I am different from you. I have no respect for hypocrite who claimed properties are not for buying/selling and yet he/she buy/sell properties. You mean one's stand can change just to suit one's self interest?" unquote

    Reporter, the above was the only point that i was trying to make. nothing to do with being a hypocrite or personal attacks. Please understand.

  5. #1415
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    Quote Originally Posted by Reporter
    ..........
    ..........

    Private home prices here are expected to hit a new high in 2010 and perhaps rise even further after that, should the economy continue to grow.

    But analysts said on Friday that sales volumes in 2010 are likely to fall back to sub-10,000 levels seen in previous years.

    Observers are projecting that 15,000 to 16,000 units will be sold in the primary market in 2009 – the highest on record.

    The launch of a mass market project in Jurong West – Caspian – broke the dam for new home sales in Singapore earlier in 2009.

    Some 10 months later, home sales during the economic downturn are projected to exceed even July 2007's record of 14,811 homes. Data already shows that about 13,905 units have been sold from January to September this year.

    Analysts said this performance is driven by pent-up demand, and is unlikely to be repeated in the years ahead.

    Donald Han, managing director, Cushman & Wakefield, said: "This has been a spectacular year by virtue of pent-up demand. The second and third quarter probably produced about 60 to 70% of total demand for 2009.

    "In the third quarter alone, we sold something like 5,700 new home units. We sold more in the third quarter than in 2008. That kind of demand is not sustainable.

    "The fact is that the government put on the brakes by discontinuing the interest absorption scheme. Also, they are making promises to ensure enough supply in the marketplace by introducing more government land sales programmes in 2010."

    Mr Han said sales are likely to average around 800 new homes a month, or some 9,000 to 10,000 units for the whole of 2010. However, some analysts said prices will not be falling in tandem with lower sales.

    That is because the strong economy and fundamentals of the country will support prices, and may even drive them higher.

    Nicholas Mak, real estate lecturer, Ngee Ann Polytechnic, said: "Going forward, average home prices still have some way to grow. They could still expand conservatively at about 10%, while in some segments they could go as high as 20%."

    Units in the mid- to high-end segments will see prices rise higher than those in the mass market.

    Analysts said this is mainly because prices in the mass market, which accounts for about 45% of all private homes sold to date, started heading upwards earlier, and are close to their peak.

    But they are not ruling out factors that could temper price growth such as government measures to cool the market, should speculation get out of hand.
    Perhaps those who support hypocrite are colour-blinded to green colour? Was the green fonts too small for their mind? Perhaps the hypocrite's words are music to their ears? Perhaps it is in their interest to support the hypocrite?

    Should we get bother by their selectively-quoting-my-words? For me, it is a big "no" as "noise is part of the system and we should just ignore them".

  6. #1416
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    Quote Originally Posted by AFP

    Cambodia allows foreigners to own property
    Agence France-Presse
    Phnom Penh, Cambodia
    Friday, 4 December 2009

    The Cambodian government on Friday approved a draft law allowing foreign ownership of buildings such as apartments and office buildings to boost economic growth, the country's cabinet said.

    The draft law approved in a meeting chaired by premier Hun Sen was aimed at "attracting investors, facilitating the growth of real estate market, and pushing the development", a cabinet statement said.

    But Information Minister and government spokesman Khieu Kanharith said foreigners will be permitted to own only buildings and apartments, not the land beneath them.

    "We will allow foreigners to have ownership of buildings from the first floor up," he told AFP.

    The draft law is expected to be approved by Cambodia's parliament and senate, and then will be promulgated by King Norodom Sihamoni.

    The move comes after the private sector in recent years urged the government to allow foreign ownership of properties such as apartments or factories, saying a liberalised real estate market would spur the economy.

    Under the current rules, foreign property investments can only be made through the name of a Cambodian national, and many are unwilling to risk losing their assets to potentially unscrupulous local partners.

    The cash-strapped country's investment law was amended in 2005 to allow foreign ownership of buildings, but the legislation had yet to be implemented and the initiative floundered.

    Despite current restrictions, billion-dollar skyscraper projects and sprawling satellite cities promising to radically alter Phnom Penh have bloomed over the past few years.

    But many projects have been halted or slowed down as Cambodia has been buffeted by the world financial crisis after several years of double-digit growth fuelled mainly by tourism and garment exports.

    The International Monetary Fund in September predicted Cambodia's economy will contract 2.75 percent this year amid the slowdown.
    Good news for those who need to force-sell their properties in Malaysia! There is a new avenue to park their money - Cambodia.
    Hun Sen welcomes you!

  7. #1417
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    Quote Originally Posted by Reporter
    Good news for those who need to force-sell their properties in Malaysia! There is a new avenue to park their money - Cambodia.
    Hun Sen welcomes you!
    Must be Economic Adviser Thaksin's plans to bring in more FDI into Cambodia.
    BE CENTRED BY ALL AT THE FRINGE OF THE CITY @

  8. #1418
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    Quote Originally Posted by stalingrad
    Had Shakespeare bought a 99-LH condo, his descendants would be worth nothing today.

    but your argument is fallacy. you can buy anything today and expect it to be worth more 1000 years down the road. It's called inflation. If you buy oil today at 80 per barrel, you can expect to sell it at 800 per barrel in 10 years. commodities are as a sure bet as properties.
    Quote Originally Posted by stalingrad
    You don't need to physically own oil or sugar. You can own shares of oil companies and plantations. I would buy companies that mine uranium too.
    That's why I still think freehold is better, even though 99-LH can also be enbloc-ed if you top up the lease premium.

    Other than "Propertism", there are other religions like "Commoditism", "Goldlam", "Antiquity", "Paintinism" etc. which also lead to salvation.

    Anything but cash, of limited supply that cannot be arbitrarily increased by the Government.

    Of course, like the others have pointed out, there is the issue of storage.

    Properties are more thief-proof.

    Commodities, gold, antiques and paintings are prone to be stolen.

    And even more so for equities, as teddybear has aptly pointed out.

    Quote Originally Posted by teddybear
    Problem with that is that in paper you are 1 of the owners, in real life your money may get siphoned away by the management (they are the 'real' owners) [too many cases happened already!]. Then you could still end up with nothing! Basically you don't enjoy the real ownership (and the real benefits from the upside) as with properties.
    Do you trust this guy to run your mining company in the interest of your progeny?




  9. #1419
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    today's classifieds suddenly shows many downward adjustments in rentals. For sixth ave resi, there are 2 bedrooms asking 4k and 3 bedrooms asking 5k. Hillcrest Villas a lot suddenly adjusted to 8.5k standard across the board to try to put a floor. Still unrealistic i feel.

    didn't have time to go through in detail but there was a Montview 4 bedder asking for 6.3k rental also.


    Quote Originally Posted by proud owner
    rental will continue to weaken in my opinion ...esp come 2010-2012 alot alot of launches wil TOP ...

    i just woinder how many buyers along newton circle/ novena area ..to king albert park ... ( i lost count how many condos, new and old) will be able to rent out their unit at a reasonable price ...enough to cover mortgage, maintenance, tax etc ..

    if Hillcrest Villa(near NJC) ..sold between 2.5-3.0 mio .. only managed to rent out at 7k ... does it cover cost? or any profit at all ?

    even if it just covers cost .. the opportunity loss, in putting money in that project, tying up cash, CPF, etc ..just not worth it ...

    i cannot imagine those who paid more than 3mio(like Duchess residences, near HJC) ... they will be asking for 12-15k rent .. and who is going to pay that amt ?? if they can get 7-8k across the road at Hillcrest ?

    just a thought thats boggling my mind

  10. #1420
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    Quote Originally Posted by proud owner
    if Hillcrest Villa(near NJC) ..sold between 2.5-3.0 mio .. only managed to rent out at 7k ... does it cover cost? or any profit at all ?

    even if it just covers cost .. the opportunity loss, in putting money in that project, tying up cash, CPF, etc ..just not worth it ...

    i cannot imagine those who paid more than 3mio(like Duchess residences, near HJC) ... they will be asking for 12-15k rent .. and who is going to pay that amt ?? if they can get 7-8k across the road at Hillcrest ?

    just a thought thats boggling my mind
    You find it mind-boggling because you have not converted to my "Propertism" religion.

    Let me introduce you to our Saint Kim. He will help to clear up your mind.



    Saint Kim is also known as Saint Double-0, because he has the ability to shift two zeroes in currencies.

    When Saint Kim weaves his magic, the $3 million Duchess Residences will turn into $300 million, and the Hillcrest rental across the road will become $700,000 per month.

    Now, let's say the buyer of Duchess Residences took out a loan of 80% of $3 million, and that is $2.4 million. Monthly instalment is estimated to be, based on the SIBOR I'm paying now, around $10,000 per month.

    With $700,000 of rentals coming in per month, and instalments of only $10,000 per month, the owner pockets $690,000 per month!!!

    Alternatively, the owner can sell his Duchess Residences at $300 million and pay off the bank loan of $2.4 million, pocketing the difference of $297.6 million!

    That's how one of our devout Propertist Mr. John Tan will soon see his loan evaporate!

    Quote Originally Posted by JohnTan
    Thats why i will borrow 80% or 90% loan from the bank for my property and watch my debts shrink as fiat money evaporates
    Of course we don't expect the situation here in Singapore to be as drastic as in North Korea, because Saint Lee is a much weaker saint than Saint Kim.

    Saint Lee, I predict, has only enough power to shift one zero, rather than two zeroes, because Saint Lee has to take the cue from Saint Obama.

    Seriously, you just have to look at the growth in the number of tax payers earning more than a million dollars a year, and you will realise that the zero is shifting.

    In 1988, the top earner in Singapore was a lawyer ($880,000 p.a.).

    In 1998, the Prime Minister's pay then was $968,000 p.a. and he was ranked 367th in Singapore.

    In 2008, there were 3838 taxpayers earning more than $1 million p.a.

    Do you seriously think that there are really so many more people creating so much more value-added service over a 20-year period.

    Or could it just be the value of the zero shifting?

  11. #1421
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    This has made my day..

    Quote Originally Posted by jlrx
    You find it mind-boggling because you have not converted to my "Propertism" religion.

    Let me introduce you to our Saint Kim. He will help to clear up your mind.



    Saint Kim is also known as Saint Double-0, because he has the ability to shift two zeroes in currencies.

    When Saint Kim weaves his magic, the $3 million Duchess Residences will turn into $300 million, and the Hillcrest rental across the road will become $700,000 per month.

    Now, let's say the buyer of Duchess Residences took out a loan of 80% of $3 million, and that is $2.4 million. Monthly instalment is estimated to be, based on the SIBOR I'm paying now, around $10,000 per month.

    With $700,000 of rentals coming in per month, and instalments of only $10,000 per month, the owner pockets $690,000 per month!!!

    Alternatively, the owner can sell his Duchess Residences at $300 million and pay off the bank loan of $2.4 million, pocketing the difference of $297.6 million!

    That's how one of our devout Propertist Mr. John Tan will soon see his loan evaporate!



    Of course we don't expect the situation here in Singapore to be as drastic as in North Korea, because Saint Lee is a much weaker saint than Saint Kim.

    Saint Lee, I predict, has only enough power to shift one zero, rather than two zeroes, because Saint Lee has to take the cue from Saint Obama.

    Seriously, you just have to look at the growth in the number of tax payers earning more than a million dollars a year, and you will realise that the zero is shifting.

    In 1988, the top earner in Singapore was a lawyer ($880,000 p.a.).

    In 1998, the Prime Minister's pay then was $968,000 p.a. and he was ranked 367th in Singapore.

    In 2008, there were 3838 taxpayers earning more than $1 million p.a.

    Do you seriously think that there are really so many more people creating so much more value-added service over a 20-year period.

    Or could it just be the value of the zero shifting?

  12. #1422
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    Global companies wanted in Singapore
    Robin Chan
    The Straits Times
    Monday, 7 December 2009


    Mr Leo Yip hopes that companies from around the world will not put just an Asian office and a factory here but the whole works: international head offices, innovation centres and corporate universities.

    The Economic Development Board's new chairman has a message for global companies: make Singapore your home.

    Mr Leo Yip hopes that companies from around the world will not put just an Asian office and a factory here but the whole works: international head offices, innovation centres and corporate universities.

    Giving his first interview since assuming the chairmanship in July, 45-year-old Mr Yip spoke enthusiastically for nearly two hours on a range of issues, including developing new sectors for the economy like clean energy, digital media and lifestyle.

    But what he is most excited about is honing - 'moving from the broad concept to the nuts and bolts' - the EDB's 'host-to-home' strategy of making Singapore a long-term base for business, innovation and talent. This concept was revealed in April this year amid Singapore's deepest recession, after the EDB and former chairman Lim Siong Guan met with its international advisory council of business leaders.

    Over the past 5 months Mr Yip has been working to translate this idea into concrete proposals to companies. And he believes there is no better time to put this into action as there are dynamic flows shaping the new global economic landscape.

    Mr Yip said one trend is that global business and the global economy are becoming increasingly Asian, with Asia continuing to take a larger part of the world's total trade, he explained, not just because of China and India, but emerging economies like Vietnam and Indonesia as well.

  13. #1423
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    It’s getting hotter at Sentosa Cove
    More over-$10-million home sales in Jan-Oct than in previous 4 years
    Kalpana Rashiwala
    The Business Times
    Monday, 7 December 2009



    Homes in Sentosa Cove drew strong interest from high-net-worth investors in the first 10 months of this year – more properties costing $10 million and above were transacted during this period than in the preceding 4 years.

    Property consultancy Savills Singapore said that its analysis of URA Realis data as at Dec 1, also shows that September and October this year were particularly active months.

    In fact, the 3 biggest ever residential transactions in Sentosa Cove – at $20.18 million, $22 million and $30 million respectively – took place during this period. The largest involved a completed bungalow at Ocean Drive which changed hands in the secondary market in October. The $30 million sale price works out to $1,753 psf, based on a land area of 17,115 sqft.

    BT understands that the bungalow was purchased by 2 Chinese citizens who are also Singapore permanent residents. The seller is a locally incorporated company.

    The 2nd and 3rd largest deals involved subsales of two villas at Paradise Island for $22 million and $20.18 million in September.

    Overall, Savills’ analysis shows that the number of caveats lodged for homes in Sentosa Cove costing $10 million and above shot up to 24 in the first 10 months of 2009 – from just 17 between Q4 2004 and Q4 2008.

    Over half or 14 of the 24 deals were sealed in September and October. The firm said that a more positive global economic outlook at the time, before the recent news of Dubai World’s debt problems, gave confidence to investors to make big-ticket purchases such as super-luxury homes.

    Other above-$10 million homes sold in the 2 months include 4 condo units at SC Global’s Seven Palms Sentosa Cove; a villa at Sandy Island that fetched $16.57 million or $1,950 psf of land area in the resale market; and a bungalow at Treasure Island which sold for $14.25 million or $1,662 psf, also in the resale market.

    Savills said that the steady recovery of the Singapore economy in the past few months and the Republic’s renewed prominence on the global financial map have helped fuel optimism among investors to park monies here.

    Singapore is also a ‘relatively cheaperdestination to buy luxury properties compared with, say, Hong Kong. Luxury property prices here are still below their peak levels.

    Savills director of investment sales & prestige homes Steven Ming offered another reason for the surge in transactions in October: according to anecdotal evidence, some high-networth mainland Chinese were in Singapore shopping for properties during their National Day Golden Week holiday.

    Across all price bands, the total number of caveats lodged for private homes in Sentosa Cove shot up from 72 in the whole of last year to 133 in the first 10 months of 2009. Even so, the latest figure is just 26% of the peak 516 transactions in 2006.

    Savills said that the bulk of the 2009 transactions were in the subsale and resale markets. Primary market deals involving developer sales accounted for just 9% of caveats, reflecting the limited release of new projects this year.

    A breakdown of 2009 transactions shows that the number of caveats (both primary and secondary markets) lodged rose from 9 in Q1, to 49 in Q2, and 51 in Q3. In October, there were 24 deals – the highest monthly figure for 2009 – bucking the trend of slowing property sales seen generally in Singapore.

    Savills credits the approaching opening of the integrated resorts (IRs) with helping to generate a renewal of interest in the super-luxury residential market.

    Prices also appreciated with the increase in transactions – the average unit price for landed homes rose from the recent low of $1,150 psf of land area in Q1 this year, to $1,533 psf in Q3 – up 33%. It was up 12.2% from September to $1,647 psf in October. But this figure was still about 38% below the peak figure of $2,643 psf in Q1 2008.

    Condominium prices in Sentosa Cove have also firmed. The average price climbed from a low of $1,200 psf in Q4 2008, to $1,804 psf in Q3 this year and $2,117 psf in September before easing to $2,030 psf in October.

    The latest figure is 16.5% shy of the $2,431 psf high seen in Q1 last year. Savills said that the October figure was shored up by four caveats lodged for units at Seven Palms Sentosa Cove with prices ranging from $3,091 to $3,353 psf.

    Excluding these transactions, the average price for the month would have slipped to $1,658 psf.

    DTZ executive director (consulting) Ong Choon Fah reckons that Sentosa Cove prices will continue to appreciate next year, although a lot will depend on the wider property market. ‘Prices in Sentosa Cove could be more volatile than in the prime districts on the mainland because Sentosa Cove buyers are relatively more investment driven than motivated by owner occupation, compared to the prime districts. When markets go up or down markedly, investors may be more inclined to sell than owner-occupiers, whether it is to cut loss or realise a gain,’ she added.

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    The Chinese (Hong Kongers included) are here... on Sentosa Cove. Good to see how the dynamics pan out.

    Reporter, thanks for all the very prompt reporting of news from all sources. It takes time and effort, and I appreciate that sharing. Actually I like the colourful fonts. So what if people speed read? Market info is never wholly accurate as a whole. Financial products put all their caveats in small print and through the use of asterisks, even newspaper reports have sensational head-lines that sometimes do not fully represent the whole picture of the attached report. Do we ever accuse the press for their sensational headlines? It is up to the reader to read and interpret the news, and no two persons interpret the same news in the exact same way anyway. If a person does not read the whole report, or the fine print, then it is to his own detriment.

  15. #1425
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    Quote Originally Posted by jlrx
    The Dragon has landed at Sentosa Cove ...


    Business Times - 07 Dec 2009

    It's getting hotter at Sentosa Cove

    More over-$10m home sales in Jan-Oct than in previous four years

    By KALPANA RASHIWALA

    (SINGAPORE) Homes in Sentosa Cove drew strong interest from high-net- worth investors in the first 10 months of this year - more properties costing $10 million and above were transacted during this period than in the preceding four years.

    Property consultancy Savills Singapore said that its analysis of URA Realis data as at Dec 1, also shows that September and October this year were particularly active months.

    In fact, the three biggest ever residential transactions in Sentosa Cove - at $20.18 million, $22 million and $30 million respectively - took place during this period. The largest involved a completed bungalow at Ocean Drive which changed hands in the secondary market in October. The $30 million sale price works out to $1,753 per square foot, based on a land area of 17,115 square feet.

    BT understands that the bungalow was purchased by two Chinese citizens who are also Singapore permanent residents. The seller is a locally incorporated company ...

    __________________
    Mickeymousation Has Arrived.
    Quote Originally Posted by new2mondrian
    The Chinese (Hong Kongers included) are here... on Sentosa Cove. Good to see how the dynamics pan out.
    Err ... Property Liberation Army is made up of Dragon Warriors?

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    Über-rich buyers are coming back
    H88
    Monday, 7 December 2009, 11:42



    Über-rich buyers are coming back, and they are buying bigger, more expensive homes, in Sentosa Cove at least. Is this a signal that 2010 will see a strong recovery in the mid-to-high end property sector, a 'top-down' recovery, so to speak? After all, Singapore's economy looks to be recovering stronger than expected.

    According to Savills, there were 14 transactions done in September and October this year which involved homes that cost above $10m. By comparison, there were only 17 such transactions in the period between Q4 2004 to Q4 2008. Prices have also risen, but have not yet reached the peaks of Q1 2008.

    And in another Savills report, foreign buyers have also increased their share of homes in Sentosa Cove too. Compared to the period between 2007-2008, which saw 38-30% foreign ownership, the first 10 months of this year saw foreign buyers taking 43% of the homes transacted.

    Let's remind you readers once again that Sentosa Cove is the only place in Singapore where foreigners don't have to be PRs to buy homes.

    Analysts say the imminent opening of the two casinos, the near completion of the Marina Bay Financial Centre (MBFC)and the fact that prices are still low compared to places like Hong Kong as factors contributing to the increased interest.

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    Foreign buyers’ share of Sentosa Cove homes on the rise
    Proportion hits 43% in first 10 months, from 39% in 2007-2008
    The Business Times
    Monday, 7 December 2009



    Foreigners, including permanent residents, picked up nearly 43% of the homes transacted in Sentosa Cove in the first 10 months of this year, up from about 38-39% in 2007 and 2008.

    A Savills analysis of caveats data captured by URA’s Realis system also showed that buyers from ‘Western’ countries – which it defined as those from Europe, North America, South America, Australia and New Zealand – made up 4 out of every 10 foreign buyers in Sentosa Cove between the 4th quarter of 2004 and Q4 2009.

    In that period, such buyers were more active in Sentosa Cove than in the other sought-after districts of 1, 9, 10 and 11.

    DTZ executive director (consulting) Ong Choon Fah observes: ‘Buyers from Western countries appreciate the lifestyle elements in residential developments a lot more. In their home markets, units in a project that face the water or bay can sometimes be priced double that of units that don’t have such a view.’

    Savills found a total of 1,297 caveats lodged for purchases of private homes in Sentosa Cove over the 5-year period, of which 487 (or 37.5%) were from foreigners (including permanent residents).

    Singaporeans bought 705 units, giving them a 54% share.

    In the first 10 months of 2009, 133 caveats were lodged for homes in Sentosa Cove. Of these, 57 were bought by foreign buyers, with Malaysians having the largest share of 25% or 14 caveats, followed by Indonesians, UK citizens, mainland Chinese and Hongkongers.

    DTZ’s Mrs Ong said: ‘What Sentosa Cove offers is very unique. It’s as close to waterfront housing as you’ll get in Singapore, plus it’s a gated community, with limited car access to outsiders. Sentosa Cove used to be like a construction yard. Now, however, most of the homes have been developed, and foreigners may be even more inclined to buy.’

    The additional draw to Sentosa Cove among foreign buyers is that it is the only location in Singapore where foreigners who are not Singapore permanent residents are allowed to purchase landed property.

    However, they must still seek permission from the Land Dealings (Approval) Unit under the Singapore Land Authority.

    The approval time for Sentosa Cove has been specially fast-tracked to 48 hours – compared with about 4 weeks for applications by PRs seeking approval to buy landed homes on mainland Singapore.

    Mrs Ong reckons that there is scope for the share of foreign buying to increase further next year, with the opening of the two IRs.

    Also, the completion of Phase One of Marina Bay Financial Centre (MBFC)will strengthen Singapore’s positioning as a global business centre.

    When high networths buy, they talk about their investments to their clique of people. That can generate further interest in Sentosa Cove,’ she says.

    Steven Ming, Savills director of investment sales & prestige homes, says that foreign buyers’ presence is a critical factor for prices of luxury homes in Singapore, including at Sentosa Cove.

    He says: ‘If we look back, in 2006-2007 when foreigners were buying in Singapore, luxury prices ran up quite a bit.

    ‘At the start of this year, there was very little foreign interest in the Singapore property market and it was mostly the mass and mid-segments that were doing well.

    ‘In the past few months, however, foreign interest has returned and we’re seeing a pick-up in prices on Sentosa Cove.’

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    Despite the flood of good news from "neutral" reporter, rental yields keep going down. Recently someone offered me a rental unit with 1200 sf in area located in a good area at less than $1,600 per month. the raw rental yield in this case is just slightly above $1 psf.

    good sign? When the root (rental situation) is rotten, the leaves (price) cannot remain verdant forever.

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    Quote Originally Posted by jlrx
    ..........
    ..........

    Other than "Propertism", there are other religions like "Commoditism", "Goldlam", "Antiquity", "Paintinism" etc. which also lead to salvation.

    Anything but cash, of limited supply that cannot be arbitrarily increased by the Government.

    Of course, like the others have pointed out, there is the issue of storage.

    Properties are more thief-proof.

    Commodities, gold, antiques and paintings are prone to be stolen.

    And even more so for equities, as teddybear has aptly pointed out.

    ..........
    ..........
    You may wanna relook at the way you preach "Propertism".
    Is it reaching far enough?

    There is a non-believer who is lost here.
    I feel sorry for him. Please help him to see the light!

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    Quote Originally Posted by stalingrad
    Despite the flood of good news from "neutral" reporter, rental yields keep going down. Recently someone offered me a rental unit with 1200 sf in area located in a good area at less than $1,600 per month. the raw rental yield in this case is just slightly above $1 psf.

    good sign? When the root (rental situation) is rotten, the leaves (price) cannot remain verdant forever.

    i think those stay 3rm flat can sublet their place and rent this place. get an upgrade of living standards.

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    Quote Originally Posted by stalingrad
    Despite the flood of good news from "neutral" reporter, rental yields keep going down. Recently someone offered me a rental unit with 1200 sf in area located in a good area at less than $1,600 per month. the raw rental yield in this case is just slightly above $1 psf.

    good sign? When the root (rental situation) is rotten, the leaves (price) cannot remain verdant forever.
    i think that prime property prices are hardly based on yield. 2%, 3% yield is the norm, which basically makes prime property prices unsustainable if you base it on yield.

    look at the buyer profile of these prime properties. do they look like they give a damn about yield? they have too much money and they dunno what to do with it. mainland chinese bigwigs and businessmen flushed with cash, indonesian commodity buinessmen flushed with cash, do you think they give a damn about a few thousand SGD a month?

    look at gold for example. non yield, non edible, no use at all. and people are buying like there is a shortage. do they care about yield? people are simply parking their money. and prime property offers just one more asset class for them to park money in.

    if you're merely the type that depends on rental yield to pay installment, i would advise you not to play prime property but to do other forms of speculation.

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    Quote Originally Posted by Reporter
    Err ... Property Liberation Army is made up of Dragon Warriors?
    Of course they're Dragon Warriors. That's why the headline of today's Business Times reads:


    December 7, 2009
    It’s getting hotter at Sentosa Cove
    The Property Liberation Army has an Eastern Division and a Western Division.

    The one I show in the post above, swimming in Sentosa's Tanjong Beach, is an Eastern Dragon Warrior.

    The Western Division's Dragon Warriors look a bit different from those of the Eastern Division.

    Western Dragon Warrior's prefer to play golf at Sentosa's Tanjong Course, but the fire they spew is equally hot.




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    Quote Originally Posted by Reporter
    DTZ executive director (consulting) Ong Choon Fah observes: ‘Buyers from Western countries appreciate the lifestyle elements in residential developments a lot more. In their home markets, units in a project that face the water or bay can sometimes be priced double that of units that don’t have such a view.’
    let's not get carried away. singapore's sea view is nothing like sydney or florida; similarly our singapore river is nowhere like the french riveria.

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    Quote Originally Posted by Reporter
    You may wanna relook at the way you preach "Propertism".
    Is it reaching far enough?
    You are right. I'll relook at how I preach my "Propertism" religion.

    So far I have emphasised more on the concept of "Heaven" and the rewards of buying properties.

    I think I may have to borrow the concept of "Hell" and eternal/ freehold damnation.

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    Quote Originally Posted by jlrx
    You are right. I'll relook at how I preach my "Propertism" religion.

    So far I have emphasised more on the concept of "Heaven" and the rewards of buying properties.

    I think I may have to borrow the concept of "Hell" and eternal/ freehold damnation.
    What do you mean by "Hell"?

    Is "Hell" where soldiers shoot you for being angry after your money had depreciated by 100 times due to a move by Saint Kim (aka Saint Double-0)?

    Quote Originally Posted by AP

    Report: North Korea orders soldiers to shoot defectors
    North Korea orders soldiers to shoot defectors following currency reform, report says
    Kwang-Tae Kim
    Associated Press
    Seoul, South Korea
    Saturday, 5 December 2009, 4:48 pm CCT


    In this undate photo released from North Korea's Chosun Shinbo via Yonhap, the front and back designs of North Korea's new paper currency after its recent reform are shown. North Korea Monday, Nov. 31, 2009, informed citizens and foreign embassies that it would redenominate the national currency, the won. But the regime limited the maximum amount of old bills allowed to convert into new ones, telling residents to deposit the rest in government-run banks, according to media reports and diplomats. From top to bottom: 5,000 won, 2,000 won and 1,000 won. - Photo: Chosun Shinbo via Yonhap, AP

    North Korea has ordered its border guards to open fire on anyone who crosses its border without permission, in what could be an attempt to thwart defections by people disgruntled over its recent currency reform, a news report said Saturday.

    The National Defense Commission -- the top government body headed by North Korean leader Kim Jong Il -- recently instructed soldiers to kill unauthorized border crossers on the spot, South Korea's mass-circulation Chosun Ilbo newspaper said, citing unidentified sources inside the North.

    It said the order could be an attempt by the communist government to stop members of North Korea's middle class who are angry over suddenly being deprived of their money from leaving the country.

    Officials at South Korea's spy agency were not immediately available for comment Saturday.

    Thousands of North Koreans have defected to South Korea in recent years, most of them via China. Last year, about 2,800 North Koreans arrived in the South, up from about 2,500 in 2007.

    The reported move came amid signs of growing anger among North Korean citizens left with hoards of worthless bills.

    On Monday, the government informed citizens and foreign embassies that it would redenominate the national currency, the won. But it limited the maximum amount of old bills that could be converted into new ones, telling residents to deposit the rest in government-run banks, according to media reports and diplomats.

    There are widespread doubts among North Koreans whether they would be able to get their money back, they said.

    Angry citizens burned piles of old bills at two separate locations in the eastern coastal city of Hamhung on Monday, the Daily NK, a Seoul-based online news outlet that focuses on North Korean affairs, reported Thursday, citing an unidentified North Korean resident.

    It quoted the resident as saying he saw graffiti and leaflets criticizing North Korean leader Kim Jong Il in and around a college in Hamhung -- a rare move in a country where the totalitarian government keeps tight control over its 24 million people.

    However, a Tokyo-based newspaper considered a mouthpiece for the North's government claimed Friday that North Koreans were praising the currency reform.

    The Choson Sinbo cited the North's central bank as saying the reform was aimed at boosting the country as a "socialist economic power" and that the role of the markets would be gradually weakened as state control over the economy is strengthened.

    North Korea set the exchange rate at 100 old won in cash to 1 new won, though it offered a 10-1 exchange rate for personal savings at banks to encourage more savings, the Choson Sinbo said.

    Initially, residents were only allowed to exchange 100,000 won per household for the new currency. But the government later increased the amount, allowing each family member to trade an additional 50,000 old won for new ones, according media reports.

    The North Korean won was previously officially traded at 145 to the dollar, but more than 3,000 were needed to buy $1 on the black market, according to Dong Yong-sueng, a senior fellow at Samsung Economic Research Institute in Seoul.

    The overhaul of the won -- the most drastic in 50 years -- appears aimed at curbing runaway inflation and clamping down on street markets that have sprung up. The government is also retaking control of the economy from the hands of merchants, analysts say.

    Unable to feed its people, the government began allowing some markets in 2002, including farmers' markets.

    The markets have encouraged trade but have also sold banned goods such as movies and soap operas from rival South Korea, posing a threat to Kim's totalitarian rule, analysts say. The country's largest wholesale market in Pyongyang was reportedly shut down in mid-June.

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    Deal to boost Islamic banking
    Esther Teo
    The Straits Times
    Monday, 7 December 2009, 6.54 pm


    MAS managing director Heng SweeKeat said at the event that Singapore, as an international financial centre, was looking to develop Islamic finance by leveraging on its existing strengths in banking, insurance, asset management and capital markets.

    A new agreement that is set to boost the growth of Islamic banking was inked between Singapore and Bahrain on Monday.

    The Monetary Authority of Singapore (MAS) and the Central Bank of Bahrain (CBB) signed a Memorandum of Understanding (MOU) at the 16th World Islamic Banking Conference (WIBC) plenary session in Bahrain on Monday morning, designed to improve supervisory cooperation and information-sharing between the two organisations.

    MAS managing director Heng SweeKeat said at the event that Singapore, as an international financial centre, was looking to develop Islamic finance by leveraging on its existing strengths in banking, insurance, asset management and capital markets.

    He cited progress already made in this area, such as Singapore's Keppel T&T and Saudi Arabia's Al Rajhi Holding Group's agreement to establish a joint venture asset management company to manage the world's first Shariah-compliant data centre fund. To develop the infrastructure and talent to facilitate the growth of Islamic finance in Singapore, Mr Heng said MAS will continue to work with fellow regulators and the private sector to fine-tune its regulatory approach.

    In the wake of the of the Dubai's debt woes, neighbouring Bahrain, Qatar and Saudi Arabia are likely to pick up much of its Islamic banking business. The Islamic financing industry is currently worth an estimated US$1 trillion and, like conventional banking, it is thought to be back on a growth trajectory following the ebbing of the global credit crisis.

    At the WIBC session, Mr Heng announced that Singapore will be hosting the first Annual WIBC Asian Summit next year, which will bring together regional leaders in finance and business.

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    Quote Originally Posted by Reporter
    What do you mean by "Hell"?

    Is "Hell" where soldiers shoot you for being angry after your money had depreciated by 100 times due to a move by Saint Kim (aka Saint Double-0)?
    You're right!


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    Singapore wants vigilance on asset prices
    Reuters
    Bahrain
    Monday, 7 December 2009, 11:27 am BT


    Heng SweeKeat, MD of MAS

    Asian asset prices have risen sharply, which calls for vigilance, a senior official at the city state’s monetary authority said today.

    I have not said there is an asset bubble ... but we need to be vigilant. I have only said there is a very sharp increase in asset prices in Asia,” Heng SweeKeat, the managing director of the Monetary Authority of Singapore, told Thomson Reuters in Bahrain.

    Heng, speaking on the sidelines of a conference in the Gulf Arab kingdom, did not give further details.

    Singapore announced several measures in September to cool rising housing prices. Several other Asian countries have also expressed concern about potential asset bubbles as money flows into stock and property markets.

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    Quote Originally Posted by ahlahdin
    let's not get carried away. singapore's sea view is nothing like sydney or florida; similarly our singapore river is nowhere like the french riveria.
    sshhh.... don't ruin i for all the hyper-uber super duper bazillionaires who want to live on "island behind death" er..... I mean "sentosa"

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    i think we may need to differentiate between prime (as in anything within CCR) and super luxury. I totally agree with you if you are referring to the super luxury segment. The foreigners will buy these with cash and not look at rental. The sentosa, the marina bay, the ardmore, marq, cliveden, Ritz Carlton Resi, Nassim Park etc just to name a few. However, if you are talking about the rest of CCR, then I think there are people who depend on rental to make the monthly payments.


    Quote Originally Posted by ahlahdin
    i think that prime property prices are hardly based on yield. 2%, 3% yield is the norm, which basically makes prime property prices unsustainable if you base it on yield.

    look at the buyer profile of these prime properties. do they look like they give a damn about yield? they have too much money and they dunno what to do with it. mainland chinese bigwigs and businessmen flushed with cash, indonesian commodity buinessmen flushed with cash, do you think they give a damn about a few thousand SGD a month?

    look at gold for example. non yield, non edible, no use at all. and people are buying like there is a shortage. do they care about yield? people are simply parking their money. and prime property offers just one more asset class for them to park money in.

    if you're merely the type that depends on rental yield to pay installment, i would advise you not to play prime property but to do other forms of speculation.

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