I see subsales advs for this property just afew days after they launched it already asking for 800~850psf
I see subsales advs for this property just afew days after they launched it already asking for 800~850psf
Read the following article, lno wonder property is moving higher again....
Take two reveals a brighter property picture
Credit Suisse revises downward its initial estimates for a foreigner exodus
By UMA SHANKARI
(SINGAPORE) Credit Suisse, which predicted in January that an astonishing 200,000 foreigners and permanent residents (PRs) might leave Singapore in 2009 and 2010 on the back of job losses, now thinks that the exodus may not be as bad as it had expected.
The evidence for this can be gleaned from the bank's forecasts for the property market.
Based on its economists' expectations of historically high job losses (up to 240,000) and an exodus of foreigners (up to 200,000) by the end of 2010, the firm's property analyst Tricia Song had previously assumed that 15,000 homes could be vacated by 2011.
But in a report dated June 19, she says she now believes that just 3,000 private homes will be vacant from 2009 to 2011 as foreigners leave the country.
'Anecdotally, we expect that the number of foreigners leaving Singapore will not be as high as we had expected,' said Ms Song in the report.
This also means that private home prices will not be as badly hit as the firm predicted just six months ago. Credit Suisse had expected private home prices to fall by as much as 60 per cent from the peak to 2005 levels, partly because of the projected 200,000-foreigner exodus.
However, in part due to the smaller-than-expected job losses and foreigner exodus, Ms Song now says home prices could dip 25 per cent in 2009 before recovering 10-15 per cent in 2010.
The main cause for the change of view is a recent update by economist Cem Karacadag, who was part of the team that in January predicted that some 200,000 foreigners and PRs might leave Singapore in 2009 and 2010.
Credit Suisse said then that the potential drop in employment and population would have far-reaching implications for the economy.
But in a recent report, Mr Karacadag said job losses have not been as large as he had feared.
'Singapore's labour market has held up remarkably well in this recession and much better than we had anticipated,' he said in a June 19 economics note.
Among various things, employers appear to have adjusted labour costs through salary cuts rather than cuts in headcount, he said.
Job losses so far this year have been surprisingly low against unprecedented job gains in 2007 and 2008, the note said. Net employment fell by only 6,200 in Q1 2009, although Singapore's real GDP was 10 per cent lower in Q1 2009 compared to Q1 2008.
Mr Karacadag also upgraded his forecast for Singapore's 2010 GDP growth to 4.4 per cent, from 3.9 per cent.
http://www.businesstimes.com.sg/sub/...91940,00.html?
Published June 30, 2009
Robust private home sales in June
But it is too early to call a recovery, cautions OCBC Investment Research
By UMA SHANKARI
(SINGAPORE) Private home sales stayed strong in June.
Freehold property: Artist's impression of Vista Residences; Far East Organization's Mr Chia says that buyers are mainly Singaporeans and there is strong interest from young professional managers, teachers and civil servants
Far East Organization sold 74 apartments in its 280-unit Vista Residences at a private preview last weekend, the developer said yesterday.
And Frasers Centrepoint said that it has fully sold two of its projects - the 330-unit 8@Woodleigh and the 110-unit Woodsville 28. Homes at 8@Woodleigh went for an average of $790 per sq ft (psf), while units at Woodsville 28 sold for an average price of $775 psf.
8@Woodleigh was launched just two weeks ago. Woodsville 28 was launched in July 2008 but most units languished until the buying momentum returned to the market this year.
Over at the freehold Vista Residences - on Jalan Dusun and Jalan Datoh at the corner of Thomson Road - prices start at $960 psf. The project will be officially launched tomorrow, but Far East released 88 units at a weekend preview, and 85 per cent of them were snapped up.
'Buyers are mainly Singaporeans and there is particularly strong interest from young professional managers, teachers and civil servants who are buying to occupy,' said Chia Boon Kuah, chief operating officer of Far East Organization's property arm.
While units at Vista Residences have sold for more than homes in the nearby The Arte - a City Developments project where units were launched at an average price of $880 psf in March - the difference in pricing is due to the difference in unit sizes and floor plans, analysts say.
'Vista Residences offer smaller size units that command higher psf pricing and also smaller balcony space than The Arte,' OCBC Investment Research analyst Foo Sze Ming said in a note yesterday. 'As such, we caution that the strong buying momentum at higher psf pricing for the new launch should not be viewed as a new uptrend for property prices.'
Mr Foo said that it is too early to call a recovery in the property market. 'We remain unconvinced by the recent 'recovery' in the physical property market,' he said.
'We believe buying strength over the recent weeks could have been driven by the spillover effect from earlier pent-up demand that drew cash rich local investors back into the market. In our view, potential catalysts for price increase will have to come from an inflow of foreign funds into the property market, as well as a pick up in employment opportunities.'
Foreign funds were the driving force of the property boom in 2007, but have not come back to the market in a big way.
Looking ahead, more mass-market and mid-market launches are expected in the coming weeks, including Oasis@Elias, a 388-unit, 99-year leasehold project at Elias Road by Chip Eng Seng, and The Gale, a 329-unit, freehold project at Flora Road by Tripartite Developers.
sub-sales has started..close to 800K for 2bedders on Sat. paper. Will you buy?
I won't. Unless my brain is on my butt.
Hee hee
is hard to say, what if the price continues to move higher and u really need a unit around that area, and worst the price sustain at says 900psf, even buying at 780psf, people may still consider it good buy, right?
just saw an ad at propertyguru, a 2 + study @ woodsville 28 is asking for $920,000 (890psf)
If REALLY need a unit there, I will rent. With so many new condo there, there will be great pressure on rental. My friend just rented a 3+study double story brand-new Penthouse with great views at Arcasia (sp??) at $3k. It was advertised at $4.5k and its for 1+1 yr lease but without much bargaining, the owner accepted it at $3k.Originally Posted by wkang1970
Do you guys forsee a dramatic increase in demand (currently the supply is already greater than demand) and do you all forsee a sudden squeeze in supply due to enbloc fever in the next 2-3 yrs?
Think, do not be con by property agents and developers who are all too quick to pass the hot baby to you or to flip the units to you just because they managed to get into the queue to buy as VVIP etc. A lot of times these are close friends/ associates of developers, main con, property agency bosses. You are just helping the lazy rich get richer.
where is this arcasia??Originally Posted by HP65
you can get a 2bedder at Kovan Melody at around 700K plus.
2 to 3 months back, it was even cheaper. Seems like sellers are now upping their price and trying to pull a fast one.
Let those who try to flip 8@woodleigh burn....these are the people who spoil the market.
Aug,Originally Posted by august
Pls pardon my spelling. Its Acacias, sorry.
august ... see below to save u the trouble ...
http://www.propertyguru.com.sg/project/767/the-acacias/
People ask you pay? what they want is to make fast money. Don't be a sucker and let them earn your $140,000 just like that over 2 weeks period. How much can you sell to the next sucker? 1.1 m? for 980sq ft in this area.Originally Posted by wkang1970
For this sort of price, I would go for - D'Almira, Evania, Oasis Garden. which are FH (nearby)
only such buyers will bring market up mah....which side are u on? waiting for market to go up to offload ur stock or waiting for market to fall to buy in stock? if you are in the latter group, then i understand how you feel....
Originally Posted by Honesty
not sure about the rest, but i am in both groups. On one hand i am hoping the market will continue to rise (capital gain for my existing property) and on the other hand i am hoping for a more realistic pricing so that i can buy more...really cannot have best of both world. Do not flame me, i am not a flipper and try to make a gain. I am buying for my two kids now. I really scared that in 20 years time, they will not be able to afford it. Even if they can, it will be a big burden. I want to give them a good start ahead of their working life.
I've been a lurker...but I thought I'll give my 2 cents since I bot a 3 br unit...
If the price escalate sharply over the next 6-9mths, I'll sell for some capital gains. But if it goes down, I keep for TOP for rent or stay in lo...
End of day - if buy with some intention to stay and not just for a quick buck, it should be ok what....
Just curious, why don't u buy Parc Mondrian or any FH/LH condo there?Originally Posted by 5577
Well, I was looking at a development with full condo facilities with reasonable number of units and near the MRT for convenience (walking distance). This development seem to meet my criteria as a first time buyer for pte property.Originally Posted by jitkiat
Maintenance cost is also part of my consideration as I understand that the smaller developments may have higher maintenance cost. (100 or so units only and may have lesser facilities) Bigger developments (500 to 600 units) may have cheaper maintenance but that means I have to fight to use the facilities.
Secondary consideration is also the reputation of this developer. I heard from friends that FCL is known for quality finishing and I really like what I saw in the showroom.
Hi yokoosi, i have the same thinking as u, trying to buy a 2nd unit for children.
5577, agreed with you, any project with less than 100 units, maintenance will be high. But any project with 300 and more, not so exclusive. To me, idea one should be 101 - 300 units.
Around potong pasir and woodleigh, i like woodsville 28, reasons being (quoted by 1 of the reader here):
- exclusive (dun need to fight for facilities)
- good quality by FCL
- 50m from mrt station
- unblock
- good usage of space (layout)
- price is also more reasonable, for example compare to woodleigh
The above my worth.
Wah! You guys are really doting parents! I'm not so lucky! Must slog for my own private apartment...Originally Posted by wkang1970
Seems like FCL is a trusted developer for quality and efficient usage of space. I haven't seen Woodville 28 but the maintenance cost for 100 odd units to share will be a concern for me.
I'm now taking a see see look look attitude now as to whether to sell in the future or stay...
wah i see some golden parents here. I wish my parents were like that last time. They only supported me up to Uni and i had to work hard, buy my own ptys n make the 1st mil on my own.
yah I also wish my parent so nice give me condo so I dun need to slog so hard :P
On the other hand, I want my children to slog abit not so spoilt!
I'm a first time private property buyer and not a speculator, so dun flame me for the question I'm going to ask...
Frankly, what are your sentiments towards the current market trend for this area? Any chance of seeing an increase in price for 8@Woodleigh in the near future? Or even near TOP?
Frankly, I'm hoping that PAP will win the next election so that the surrounding area will develop and prosper even more at a faster rate!
i see many kids today lacking the kind of resilience n perseverence that we had in our younger days. Sme go thru life thinking that parents would be providing for them next time (they may nt say it out). Throw these kids out into society, they will get bullied n go back crying to mummy or jump off a building. These days when i see kids shouting at maids at their whim, parents escorting their pampered 12yr old brats to n frm school (n carrying their bags) even though their house is just a few steps frm school, n kids cmparing their fathers' cars n condos, i see a hopeless generation in the making.
are you trying to inject some excitement into the forum ? nice try.Originally Posted by Regulators
Not really spoiling the kids lah. Some conditions must be met before i will go to the lawyer office to sign over the deed in the future
The potential for growth is there, but i doubt the appreciation will move too much. It will be good if your intention is to buy to stay. For flippers, i see trouble forward. Just look at Kovan Melody.
Personally, i felt that the psf is high for 8@WL(99). For the same price or with a slight premium, you can get One Leicester (FH), Intero, etc. The units looks affordable because now the size has been reduced.
The questions now is are we having an oversupply?
not intentionally creating any excitement, just creating some awareness for parents, that is all.Originally Posted by Douk
Hi all. The showroom is permanently closed. Do PM me if u looking for sub sale units.
If Ascentia Sky in Redhill can go for 1000psf, this area (cityfringe) definitely has great potential. It is just waiting for some actions (revamp in potong pasir and development in woodleigh) to take place.
So if u buy for stay, capital gain for medium is possible.
Originally Posted by 5577
dont think this area is comparable to redhill which is close to tanglin and river valley.Originally Posted by wkang1970