The new ruling only effect new project. Trevista will still have IAS. Was told that developer is going to release all units @ +3% this weekend.Originally Posted by Honesty
Newbie
The new ruling only effect new project. Trevista will still have IAS. Was told that developer is going to release all units @ +3% this weekend.
Newbie
So is the 3% premium to catch the last IAS train?
Newbie
Aiya, let the train go lah, no need to catch, plenty of trains and boats are coming......
At this time who would want to be so stupid to commit, everyone will prefer to wait and see next....
If no buyer after 3 months, all developers and other sellers will have to start to reduce their prices.
Remember...this is a buy and sell game....
No buyer...of course....price will drop...
WHY RUSH TO BUY ?????????
Newbie
That was what those who missed the boat previously said.
Newbie
Ask around, how many of those who boarded the property boat in march - jul 2009 managed to flip successfully and for how much profit. Versus those who placed their bets in equities during the same period. In fact, those who said let the train go is right and i continue to believe its right to continue to stay away from the train. As an investment class, singapore's property risk-reward proposition is unattractive at all.
If really love property, buy the property equities. So much more rewarding. Instead of taking their hot baby, might as well join their game and buy their stocks. I'm even embarrassed at the amount (% and absolute) of gains I made by placing my bets with Bukit Sembawang mother stocks and her warrants.
Newbie
I guess ppl would always talk their "position".. if i din invest in property, i would wish the mkt would crash for me to buy low. Or if i already invested, then of cos i would talk up the mkt to reaffirm my decision.. at the end of the day, we all have different views with regards to investment and that is why there is a buyer (bullish) and seller (bearish). And of there will be winners and losers but only time will tell. Time is a big factor here.. are we talking about 3 months or 3 years...? Well, i oredi committed so that make me "stupid" in Honesty's opinion. as for his comment that "everyone" will prefer to wait and see next, i guess the record number of buyers in July are ghosts maybe, and that maybe no one should buy property until Honesty deems it is time to...An opinion is fine, but be mindful of your words if they potentially irritate or offend
Newbie
You bought a unit at Trevista? Good for youI guess ppl would always talk their "position".. if i din invest in property, i would wish the mkt would crash for me to buy low. Or if i already invested, then of cos i would talk up the mkt to reaffirm my decision.. at the end of the day, we all have different views with regards to investment and that is why there is a buyer (bullish) and seller (bearish). And of there will be winners and losers but only time will tell. Time is a big factor here.. are we talking about 3 months or 3 years...? Well, i oredi committed so that make me "stupid" in Honesty's opinion. as for his comment that "everyone" will prefer to wait and see next, i guess the record number of buyers in July are ghosts maybe, and that maybe no one should buy property until Honesty deems it is time to...An opinion is fine, but be mindful of your words if they potentially irritate or offend
Newbie
Hi pathetichindsight,I guess ppl would always talk their "position".. if i din invest in property, i would wish the mkt would crash for me to buy low. Or if i already invested, then of cos i would talk up the mkt to reaffirm my decision.. at the end of the day, we all have different views with regards to investment and that is why there is a buyer (bullish) and seller (bearish). And of there will be winners and losers but only time will tell. Time is a big factor here.. are we talking about 3 months or 3 years...? Well, i oredi committed so that make me "stupid" in Honesty's opinion. as for his comment that "everyone" will prefer to wait and see next, i guess the record number of buyers in July are ghosts maybe, and that maybe no one should buy property until Honesty deems it is time to...An opinion is fine, but be mindful of your words if they potentially irritate or offend
When I said "At this time" I am referring to "now", after the govt had announced the new measure to cool down the property market.
BTW, I had also bought a pte property in June this year in the resale market and the price was still very reasonable at that time, at about $570 psf.
I am just hoping the buyers be more careful before they commit in such a expensive property in today's market.
Senior
wow, just 5 more units?!
From BT,
"Sales at projects that have been on the market longer have tapered off. For instance, NTUC Choice Homes last week sold five units at its 99-year leasehold Trevista condo in Toa Payoh bringing total units sold to 478 units in the 590-unit condo.
So far this month, the developer appears to have sold 65 units. The average price currently is $935 psf, higher than $898 psf initially. The price premium for IAS buyers is 2 per cent. So far 21 per cent of the total 478 units sold have been on IAS.
Far East Organization sold 24 units last week at its various projects across the island. Its top selling projects were Waterfront Keys and Waterfront Waves in Bedok, Floridian in Bukit Timah, and Mi Casa in Choa Chu Kang.
BT understands several other projects on the island saw sales of just one or two units over the weekend. Meadows @ Peirce is said to have seen sales of two units and Trizon in the Mount Sinai area, just one unit."
Newbie
wow ... looks like really people back in action after the lunar seventh month!?!
Newbie
I think what bargain hunter said is the market is slowing down.... not wow...picking up....
Newbie
yeah .. juz realised tt after seeing same post made by him in a few other threads
He is being sarcastic yah, using words like "excellent" ... LOL
Newbie
Means gov't action likely to work across the board to dampen sentiments?
F01 N54 Sheer Driving Pleasure
Did The Business Times censored half of the article? Perhaps he was late in paying his subscription?
Here you go - the full article:
Hundred Trees defies market chill elsewhere
Sales taper off at many projects as cooling measures start to seep in
Kalpana Rashiwala
The Business Times
Tuesday, 29 September 2009
City Developments Ltd (CDL) sold a whopping 316 units last week at its Hundred Trees condo in the West Coast, a quarter of them on interest absorption scheme (IAS). Demand for most other projects, however, seemed to falter.
'Hundred Trees is amongst the last few developments where buyers may opt for IAS,' CDL noted in its press release yesterday. The developer has raised the 956-year leasehold condo's average price from $895 psf initially to about $910 psf. Those who buy on IAS pay a 2.5% price premium.
It was a different story elsewhere as house-hunters ponder the implications of the Sept 14 measures by the government to cool the market. These include scrapping IAS and restarting confirmed list government land sales in first half 2010.
One property consultant even hazarded a guess that 'a pull-back in demand of 10% is not unrealistic'.
BT understands that CapitaLand and its partners last week sold fewer than 20 units at The InterLace condo which will be developed on the Gillman Heights site, after selling 233 units the preceding week. No IAS is being offered for the 99-year leasehold condo.
Analysts point out that the project's pricing is also not compelling. Prices range from $850 to $1,150 psf though market watchers say that on average, the price is about $1,000 psf. The project's unique design may appeal to some but not others, they added.
InterLace also does not have any one-bedroom units, which typically involve a lower lump sum investment and tend to sell off fastest in projects, a market watcher said.
In the Marine Parade location, GuocoLand sold another 21 units at its freehold Elliot At The East Coast project last week. This brings total units sold to 66 units. The developer has released 80 of the total 119 units in the five-storey project at an average price of $970 psf. It is offering IAS in exchange for a 2 per cent price premium. So far four buyers have taken up the scheme. GuocoLand began selling the condo on Sept 19.
Sales at projects that have been on the market longer have tapered off. For instance, NTUC Choice Homes last week sold five units at its 99-year leasehold Trevista condo in Toa Payoh bringing total units sold to 478 units in the 590-unit condo.
So far this month, the developer appears to have sold 65 units. The average price currently is $935 psf, higher than $898 psf initially. The price premium for IAS buyers is 2%. So far 21% of the total 478 units sold have been on IAS.
Far East Organization sold 24 units last week at its various projects across the island. Its top selling projects were Waterfront Keys and Waterfront Waves in Bedok, Floridian in Bukit Timah, and Mi Casa in Choa Chu Kang.
BT understands several other projects on the island saw sales of just one or two units over the weekend. Meadows @ Peirce is said to have seen sales of two units and Trizon in the Mount Sinai area, just one unit.
A seasoned property consultant said: 'The market had cooled off slightly even before the Sept 14 measures as price resistance set in after rapid price increases between May and August. People throng showflats of newly released developments, looking for the best units and buy what they can afford. After that, it can be a slow climb in terms of sales volume.'
Most developers and agents have been arguing that the removal of IAS will not make a big dent on home sales as only a minority of buyers in projects where it is offered at a price premium have been taking up the scheme in recent months.
'However, it is not the removal of IAS but the overall message, that the government is monitoring the market closely and ready to do more if necessary, that is having a psychological impact,' reckons DTZ's South-east Asia research head Chua Chor Hoon.
'The Sept 14 package was a warning to market participants and a reminder to potential buyers to be careful,' she added.
A property agent told BT that some people have walked away from buying units in new condos from developers recently as prices at some just-completed developments nearby or projects which are nearing completion are about 20% less in some instances.
CDL said yesterday that 85% of Hundred Trees' buyers were Singaporeans.
'There was a balanced mix of HDB upgraders and buyers who hold private property addresses,' it added. All 22 one-bedroom units, priced from $500,000, and 66 two-bedroom apartments, priced from $701,000, have been sold,' it added.
All six penthouses costing between $2.4 million and $2.6 million have also been taken up. So far, CDL has soft launched 350 of Hundred Trees' total 396 units.
It will release the remaining units this weekend, when it does an official launch, involving an ad campaign.
Senior
reporter, you can go ahead and ask cheerful and honesty whether the 1st half of the article matters to them or not. As though they do not already know. But i REALLY appreciate you posting the article. you are depriving our admin, Mr. Funny of his job though. Traditionally, he is the one who posts before you came into the forum. I also do not like to violate copyright laws. Its better to quote than to copy everything wholesale, including THE BUSINESS TIMES LOGO?!
Did The Business Times censored half of the article? Perhaps he was late in paying his subscription?
Here you go - the full article:
Hundred Trees defies market chill elsewhere
Sales taper off at many projects as cooling measures start to seep in
Kalpana Rashiwala
The Business Times
Tuesday, 29 September 2009
City Developments Ltd (CDL) sold a whopping 316 units last week at its Hundred Trees condo in the West Coast, a quarter of them on interest absorption scheme (IAS). Demand for most other projects, however, seemed to falter.
'Hundred Trees is amongst the last few developments where buyers may opt for IAS,' CDL noted in its press release yesterday. The developer has raised the 956-year leasehold condo's average price from $895 psf initially to about $910 psf. Those who buy on IAS pay a 2.5% price premium.
It was a different story elsewhere as house-hunters ponder the implications of the Sept 14 measures by the government to cool the market. These include scrapping IAS and restarting confirmed list government land sales in first half 2010.
One property consultant even hazarded a guess that 'a pull-back in demand of 10% is not unrealistic'.
BT understands that CapitaLand and its partners last week sold fewer than 20 units at The InterLace condo which will be developed on the Gillman Heights site, after selling 233 units the preceding week. No IAS is being offered for the 99-year leasehold condo.
Analysts point out that the project's pricing is also not compelling. Prices range from $850 to $1,150 psf though market watchers say that on average, the price is about $1,000 psf. The project's unique design may appeal to some but not others, they added.
InterLace also does not have any one-bedroom units, which typically involve a lower lump sum investment and tend to sell off fastest in projects, a market watcher said.
In the Marine Parade location, GuocoLand sold another 21 units at its freehold Elliot At The East Coast project last week. This brings total units sold to 66 units. The developer has released 80 of the total 119 units in the five-storey project at an average price of $970 psf. It is offering IAS in exchange for a 2 per cent price premium. So far four buyers have taken up the scheme. GuocoLand began selling the condo on Sept 19.
Sales at projects that have been on the market longer have tapered off. For instance, NTUC Choice Homes last week sold five units at its 99-year leasehold Trevista condo in Toa Payoh bringing total units sold to 478 units in the 590-unit condo.
So far this month, the developer appears to have sold 65 units. The average price currently is $935 psf, higher than $898 psf initially. The price premium for IAS buyers is 2%. So far 21% of the total 478 units sold have been on IAS.
Far East Organization sold 24 units last week at its various projects across the island. Its top selling projects were Waterfront Keys and Waterfront Waves in Bedok, Floridian in Bukit Timah, and Mi Casa in Choa Chu Kang.
BT understands several other projects on the island saw sales of just one or two units over the weekend. Meadows @ Peirce is said to have seen sales of two units and Trizon in the Mount Sinai area, just one unit.
A seasoned property consultant said: 'The market had cooled off slightly even before the Sept 14 measures as price resistance set in after rapid price increases between May and August. People throng showflats of newly released developments, looking for the best units and buy what they can afford. After that, it can be a slow climb in terms of sales volume.'
Most developers and agents have been arguing that the removal of IAS will not make a big dent on home sales as only a minority of buyers in projects where it is offered at a price premium have been taking up the scheme in recent months.
'However, it is not the removal of IAS but the overall message, that the government is monitoring the market closely and ready to do more if necessary, that is having a psychological impact,' reckons DTZ's South-east Asia research head Chua Chor Hoon.
'The Sept 14 package was a warning to market participants and a reminder to potential buyers to be careful,' she added.
A property agent told BT that some people have walked away from buying units in new condos from developers recently as prices at some just-completed developments nearby or projects which are nearing completion are about 20% less in some instances.
CDL said yesterday that 85% of Hundred Trees' buyers were Singaporeans.
'There was a balanced mix of HDB upgraders and buyers who hold private property addresses,' it added. All 22 one-bedroom units, priced from $500,000, and 66 two-bedroom apartments, priced from $701,000, have been sold,' it added.
All six penthouses costing between $2.4 million and $2.6 million have also been taken up. So far, CDL has soft launched 350 of Hundred Trees' total 396 units.
It will release the remaining units this weekend, when it does an official launch, involving an ad campaign.
Senior
sorry cheerful, i think this is the last month that you can get a 4D number idea already on October 15th. no more liao in coming months.
yeah .. juz realised tt after seeing same post made by him in a few other threads
He is being sarcastic yah, using words like "excellent" ... LOL
Newbie
No prob lah ... don't make it sound like am a serious gambler leh
Funny lah you ... like your sense of humour.
F01 N54 Sheer Driving Pleasure
Trevista did not managed to break Centro Residence's high of $1,289 psf.
Senior
hehehe, bored mah. ppty market so quiet. forum flooded with newbies. old birds busy or keeping quiet. just add a little humour, reporter like flaming me as though i m trying to talk down the market like that. from the start, i have always advocated that the market is efficient enough such that it is impossible for forums to influence the market up or down. my stand is still the same.
can't be serious gambler lah. last 4D no. idea liao mah, make the most of it, maybe hit leh?
No prob lah ... don't make it sound like am a serious gambler leh
Funny lah you ... like your sense of humour.
F01 N54 Sheer Driving Pleasure
... did not say or accuse you or anyone are/is talking up or down the market for the last 2 years here in the forum even if the person is doing it ...
Newbie
Hi guys .. thanks for the BT article (both long & short versions).
Anyway, still quite amazed tt pp willing to part > $2m for a PH when the same sum can get landed in some less popular locations. Wait ... then again, is this place really that popular har?
Newbie
Talking about this Tree, looks like some who bout actually utilised the IAS ... last minute cheong!
"Most developers and agents have been arguing that the removal of IAS will not make a big dent on home sales as only a minority of buyers in projects where it is offered at a price premium have been taking up the scheme in recent months.
'However, it is not the removal of IAS but the overall message, that the government is monitoring the market closely and ready to do more if necessary, that is having a psychological impact,' reckons DTZ's South-east Asia research head Chua Chor Hoon.
'The Sept 14 package was a warning to market participants and a reminder to potential buyers to be careful,' she added.
A property agent told BT that some people have walked away from buying units in new condos from developers recently as prices at some just-completed developments nearby or projects which are nearing completion are about 20% less in some instances.
CDL said yesterday that 85% of Hundred Trees' buyers were Singaporeans.
'There was a balanced mix of HDB upgraders and buyers who hold private property addresses,' it added. All 22 one-bedroom units, priced from $500,000, and 66 two-bedroom apartments, priced from $701,000, have been sold,' it added.
All six penthouses costing between $2.4 million and $2.6 million have also been taken up. So far, CDL has soft launched 350 of Hundred Trees' total 396 units."
Newbie
Sales of old projects tapering off is not suprising, as the better units are all gone (unless develop still has new stacks to release) , and the remaining units at a higher price. Their sales will only pick up if there is a newer development nearby starting sale at a higher price (like what micasa did to caspian, and vista did to arte). With trivesta, centro and silversea not exactly "value for money", not easy for their sales to pick up.
Lesson for developers...always aim a site where nearby has FEO project, then chiong to release before FEO.
Newbie
Good observation
Newbie
But even $1,222 psf is very steam.. must be a small 30+ floor unit..
F01 N54 Sheer Driving Pleasure
Will Trevista continue to contribute to this record sale?
Private home sales in Singapore this year could be higher than 14,800 units: DTZ
Irene Chan
938LIVE
Tuesday, 29 September 2009, 2154 hrs
Property consultant DTZ said sales of private homes here this year are likely to be higher than the record of 14,800 units sold in 2007.
In a report, DTZ said there was a "frenzied" level of activity seen in the third quarter this year.
That led to a record number of more than 2,700 homes sold in July.
DTZ is forecasting that the record of some 5,100 units sold in the second quarter of 2007 will be surpassed in the current quarter on the back of the strong momentum.
It added that the average private home prices continued on the uptrend in the third quarter this year.
In addition, DTZ said rental values found some stability in the third quarter after four consecutive quarters of decline.
For the rest of the year, DTZ said sales volume in the private residential market is likely to ease due to fewer projects in the pipeline.
Recent measures by the government to cool the market, like the removal of the interest absorption scheme, may dampen sales too.
Junior
True lah ... nobody can influence the market, as watching the market go up and down is like watching a movie.
You cannot control the characters or the plots, but you can cheer or jeer the characters, e.g in Star Wars we cheer the Jedi and jeer the Evil Emperor.
Lehman Brother's collapse is like "The Empire Strikes Back" when the market went into free fall.
Now the sun has come out again, it is "Return of the Jedi".
Newbie
wah! Tcss at its best?
Anyway no offence meant, quite refreshing to read something new.
Newbie
nowadays buy house like buying food..wherever got queue, the food must be good, even such remote location like Interlace also got queue...
Instead of reserving tables with tissue paper, we issue blank cheques. Singaporeans sure have a way of getting things their way ahead of others. Kudos to Kiasu Singaporeans!!!!! Hip Hip Hooray!!!
Newbie
Just out of curiosity, with most things being equal like land tenure and proximity to MRT, would a Redhill condo command a premium over Trevista?
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