Junior
Yes i known and heard some agents bgt up most units,cos of the mrt and seaview. And they overpromise to potential buyers,or me that can sell higher bcos of mrt. which in fact the price had alrdy factored in the advantages.Originally Posted by richwang
never committed,cos i dont feel safe wf overpromising agents.
Junior
are the 20 units been sold or still marketing. I have no interest for this project but thought some of the sizes really too odd, wonder if it can be sold and at what price.
I saw alot of listings for The Parc in the Straits Times every Sat but not many for Parc Imperial...
Junior
Well, the Parc is a much bigger project (close to 1000 units?) while Parc Imperial is just 138 units.
I believe some agents are still holding. This one is asking for S$2216 psf. Let's see who will be the fool to bite.
http://www.propertyguru.com.sg/listi...-parc-imperial
Thanks,
Richard
Junior
Haha, fools...S$860,000K still looks cheap to some. But in property psf is also important.
Junior
Who knows, some of the units there managed to secure retal of S$2.3K (and some are asking for S$2.7K), so the rental yeild is still 3%+.
This makes me worry about future en-bloc. These people will vote against it.
Anyway, MM price is supposed to drop, not increase. So the agents are just putting there for fun (or to sell some other units).
Thanks,
Richard
Newbie
Rental prices are increasing. Demand is there, most units put on the market are rented out within weeks. Easily $2500/mth now.
Junior
Newbie
2.5k/mth for a studio or 1-bedder?
Junior
Well, my 1 bedder rented out at 2.5k/m with hours. The studios were renting out at 2.1 to 2.3. Now the few studios left are asking 2.5K - I guess those are the investors who intend to sell. So they can show the buyers a very good rental yield.
For me, waiting for 2 months means an opportunities cost of 0.2K monthly rental.
Thanks,
Richard
Junior
Forget about those numbers. Some agents put multiple advertisments with different prices. Some never bother to take the ads out even after the units are rented out. The best is to take walk there, you will see most are occupied.
Some grand floor units facing the high way (and not willing to accept a market price) are still waiting.
Thanks,
Richard
Junior
Wat is the rental of 3 bedder?
Junior
It is a strange situation for the 3 bedders in this project. Among the 138 units, there are about 8 units 3 bedders. It was sold at $900K for the size of 904 sqft. So the 3 bedders are very small. You have so many other choices in Pasir Panjang area. Families may not prefer this project.
So the rental asking is only 4K for 3 bedders - similar rental yield as those MM.
Thanks,
Richard
Junior
I think it is not bad. Can cover the loan payment to the bank. I am thinking of renting out my unit when it TOP next year.
Btw, how is your trip to Malaysia, did you find anything worth looking into?
Newbie
I sold my One-Bedder at $700k 3 months ago. Is this a good price?
Exalted
gd price at tat point of time lor....but not so after some studios sold at 650k
how to console urself: nvm...earn less only...leave some cream for next buyer
Junior
S$564,800 484 Strata 1,166 psf Jul-2009
S$700,000 484 Strata 1,445 psf May-2010
Definetely good price! If I remember correctly, it is a grand floor unit. Somehow grand floor unit is not very easy to rent out in that project.
And 25% profit in one year with S$100K++ hard cash IN HAND is by any standard a good price!
For those who are still holding (like me), by the time when they really want to sell, the price may well drop back.
Now you have the capital to hunt for your next property.
Congratulation!
Richard
Newbie
I already bought another property at about the same time I sold my unit .. and last check, the price of the unit that I bought has increased by about $200 psf. I am comtemplating to buy another property now for own stay. But current prices are just too high for me!
Exalted
wow...so power....buy in May and now gain 200psf...clapX2
Newbie
I would like to elaborate further. It was a new launch and the project was sold out on the very first day except the PH units. As I was in overseas, I returned two weeks later to visit the showroom and to meet my agent. There were other agents (not from Developer Agent) who positioned themselves 100m away asking whether I am keen to release the unit for $100+ above the purchased price. I turned down the offer. Just last month, my agent called me to inform that someone is interested to buy my unit at $200 over my purchased price. Again, I turned it down because given the current soaring prices in property, it would be hard for me to purchase another unit ...wow...so power....buy in May and now gain 200psf...clapX2
Exalted
tats really cool....u made a gd purchase again
Junior
No this is not cool. Very very Deja vu1996
Go for Smallest Unit
Us printing money and flowing into asia. Not the same with 97
Senior
can u help clarify
US printing money .. flowing into asia ...
into property sector ONLY ?
i was looking at MAS website .. the SGD Tbill issuance shot up since 2009 from 1 bio to 3.9 bio ...
so how much of such INFLOW goes into properties ?
Exalted
i believes most of it goes to equities/commodities
if i make $ and cash out from equities, i will pump a portion to ppty...
idk abt others...care sharing?
Go for Smallest Unit
http://www.businesstimes.com.sg/sub/...411821,00.html?
Business Times - 05 Nov 2010
Economists see more liquidity coming to Asia
Businesses here brace for forex fluctuation expected after QE2
By TEH SHI NING
THE US Federal Reserve's decision to buy US$600 billion in Treasury bonds over the next eight months will send more liquidity Asia's way and could spark more measures to contain speculative capital inflows here in Singapore, economists say.
Local businesses are also bracing themselves for the currency fluctuation expected to result from this second round of quantitative easing (QE2), though economists say the trade impact of a stronger Sing dollar will be tempered by the large import content of Singapore's exports.
The immediate impact of QE2 on companies here will be from the Sing dollar appreciating against the greenback, Singapore Business Federation (SBF) CEO Teng Theng Dar said. 'That will force our companies to look for immediate ways to cut costs or reduce margins (sales minus direct costs) to remain competitive on the export front,' he told BT.
Mr Teng thinks 'the fluctuation in forex will also cause serious challenges in trading and investments', especially with 70 per cent of the SMEs involved in the export of goods and services globally.
Economy observers, however, say the impact on trade growth should be limited. There will naturally be 'translation losses' as companies convert their US-dollar export earnings back to Sing dollars, says Citi economist Kit Wei Zheng. But the import-intensive nature of Singapore's trade remains a 'huge mitigating factor'. Raw materials and components are usually denominated in US dollar, so a stronger Sing dollar could benefit importers, manufacturers and those exporting import-intensive goods to a larger extent.
The impact of a stronger Sing dollar may also be 'overstated' since other Asian and developed country currencies have also strengthened against the dollar, said Barclays Capital economist Leong Wai Ho. 'So on a trade-weighted basis, the SGD has appreciated much less significantly,' he said.
Plus, stable appreciation typically does not affect exports as much, as exporters can easily hedge against that. 'It is the volatility in currency movements that is extremely detrimental to trade flows,' says DBS economist Irvin Seah, as hedging against erratic swings is expensive.
OCBC economist Selena Ling notes, though, that with the Sing dollar nominal effective exchange rate (SGD NEER) already at the stronger end of its parity band, the currency ripples from QE2 'may not sit too comfortably for exporters', especially since Q4 sentiment among manufacturers has turned cautious and October's electronics PMI showed a second month of contraction.
The Sing dollar has strengthened to just under $1.29 to the US dollar now, down from close to $1.36 in August when Fed chairman Ben Bernanke first signalled a QE move. Several emerging economies' policymakers have expressed their intention to invoke capital controls to stem the flood of liquidity headed their way with the Fed's money printing.
To SBF's Mr Teng, the worst-case scenario for businesses would be the escalation of these measures into a currency war which could negatively hit global trade and investments.
'Should such a protectionist and volatile environment take root, it is likely to pose significant risk for Singapore businesses, especially for exporters and manufacturers as they face the anxiety of currency fluctuation, the risk of inflation, as well as potential trade barriers in overseas markets,' Mr Teng said.
RBS economist Lim Su Sian thinks Singapore is likely to be one of the least interventionist in this region, in dealing with the influx of capital. 'In terms of depth of capital markets, I think we're able to better absorb these flows,' she said.
In fact, Mr Kit says the liquidity-associated capital inflows and positive sentiment 'could yield positive spillover effects for certain financial services with increased IPO and fund-raising activity, which are balanced against the negative impact of compressed net interest margins on bank loans'.
But with that comes speculative investment that could trigger a second round of macroprudential measures to ward off asset price inflation.
'More cooling measures are likely in store for the real estate sector, given that residential house prices appear to be resurgent,' said Mr Leong, who thinks these could take the form of further tightening of loan-to-valuation limits for second home buyers, or specific measures to curb foreign and institutional buyers.
Copyright © 2010 Singapore Press Holdings Ltd. All rights reserved.
Go for Smallest Unit
1. Causes of Asian Financial Crisis - what can an early warning system model tell us?
http://www.adb.org/Documents/ERD/Wor...pers/wp026.pdf
2. Key indicators for Asia and Pacific.
http://www.adb.org/Documents/Books/K...ators-2010.pdf
3. Singapore News
http://www.adb.org/Singapore/news-releases.asp
Go for Smallest Unit
http://www.businesstimes.com.sg/sub/...411808,00.html?
Business Times - 05 Nov 2010
Helicopter Ben drops money from the sky
US$600b for QE2, but many economists are sceptical about its effectiveness
By VIKRAM KHANNA
BY UNLEASHING a second round of so-called quantitative easing - a polite euphemism for money printing - the United States Federal Reserve will make few new friends and more new enemies, especially in Asia. And this is unlikely to be the end of it either.
QE2, as it is called, was widely expected. The US economy is in the doldrums: unemployment is at 9.7 per cent, house prices are still falling, and consumer confidence is weak. Fiscal policy is effectively paralysed. The US$787 billion economic stimulus of 2009 has largely run its course.
The emergence of a Republican majority in the US House of Representatives in the midterm elections all but assures that there can be little fiscal activism - at least on the expansionary side - for the two remaining years of Barack Obama's presidency. This means that when it comes to US economic policy, the Federal Reserve is now the only game in town.
Having already sliced the Fed funds rate to almost zero, the Fed appears to have decided to throw caution to the wind, at least for now. It will expand its balance sheet - in other words, buy US Treasury bonds and other securities - as much as is needed to revive the US economy. In QE2, it will buy US$600 billion worth by the end of June next year. But it might not stop there. The Fed says it will 'regularly review the pace of its securities purchases and the overall size of the asset-purchase program in light of incoming information and will adjust the program as needed to best foster maximum employment and price stability'.
In other words, if QE2 doesn't work, expect a QE3 - maybe even a QE4. The Fed has effectively announced it is prepared to print money on a heroic scale, if that is what it takes. 'Helicopter Ben' - as the Fed chairman is sometimes described, in an allusion to a central banker dropping currency notes indiscriminately from a helicopter - is living up to his nickname.
If the impact of QE2 falls primarily on the domestic US economy, Mr Bernanke would be vindicated; if, as a result, US mortgage rates fall low enough to make people buy more houses and arrest the slide in home prices, if US inflation goes up and encourages American consumers to open their wallets (as well as reduce the real value of US debt), if super-low interest rates induce companies to borrow and invest more, we might yet see a US economic recovery get under way.
Alas, that is not what many economists expect. Harvard professor Martin Feldstein points out, for instance, that it is moot whether a 20 basis point reduction in mortgage rates would be sufficient to arrest the slide in home prices. Economists also note that with inflation running below 2 per cent, a lot more QE would be needed to get it to a level that spurs more buying. And with unemployment - as well as spare industrial capacity - still running high, companies don't have much incentive to invest.
This suggests that the main effects of QE2, at least initially, will be felt outside the US. A lot of the excess liquidity is already ending up as capital inflows into emerging market economies, mostly in Asia, and also other developed countries, as investors chase higher yields. According to global fund tracker EPFR, flows into emerging market funds have been US$46.4 billion in the year to the fourth week of October compared with US$9.4 billion for all of 2009. Across the Asia-Pacific, currencies are being pushed up. The Australian dollar is at a 28-year high against the greenback. The Japanese yen is at close to a 15-year high. The Singapore dollar (around 1.29 to the US dollar) is at a record level.
Brazil and Thailand - also hit by rising currencies - have already imposed taxes on capital inflows. The Korean central bank has indicated that it will 'aggressively' consider doing so. There are indications that Asian central banks might even act in concert to ward off what could be a bubble-inducing wave of capital.
However, in the face of a determined Federal Reserve, it must be said that there is not a great deal that other central banks can do, beyond protesting. By flooding the world with liquidity, the Fed is effectively pressuring countries to let their currencies rise against the dollar - or face the increasingly rising costs of not doing so. We will have to wait till the G-20 meetings in Seoul next week for the next instalment of this dramatic saga.
Copyright © 2010 Singapore Press Holdings Ltd. All rights reserved.
Last edited by kingkong1984; 05-11-10 at 05:44.
Junior
Care to share which project? Since you are the owner now, free advertisement for your project.
Thanks,
Richard
Senior
that is also the reason why i m more positive on equities than ppty for sometime already.
Newbie
nuts... i just bought another FH within 100m radius of PI for approx $700psf. PI pricing is simply unrealistic.
Posting Permissions
Reply With Quote