This one sure firesale one, sure can buy one. Got money can buy. I predict can hit 5000psf in the future. So this one can buy one. Later got nobel laureate from the area, then rich lo, can buy. Pay 10,000psf also can. So can buy. I sell you at 1500psf. Good bargain now. Want or not? Next time 5000 or 10,000psf possible.
Originally Posted by Unregistered
Buy?
Buy your head lah?
Sold out o'lready lah!
Aftonoon o'lready start dreamin'. Not night time yet.
Buy from sub-sellers la. Buy high high from them. let them shiok shiok earn big bucks. Buyers got money what. Pay to give them a high lor.
It's a sellers' world. They've got choice.
When they see your idiotic face, they will not sell to you, even if your bid is high. (From your message, we can see you are an idoit!)
Too bad for you!
Just ignore him. He writing nonsense in every forum!
Ignore him?
No lah. We should help him.
Do you want a Virginia shooting case in Singapore?
When we sense somebody is going down, we must do something before it is too late.
If I am the government, I will take measures to slow the growth to 5 to 7% per year (not quarter). This is healthier and sustainable. An exception I will make is the luxury class condo (above 2500psf). For these, the buyers will be less price-sensitive. So the measures will be these:
1. Scrap deferred payment schemes and return to progressive payments.
2. No bank loan amount above 80% of property value.
3. Capital gain tax of 25% for sale of property bought within the last 2 years. If foreigner, the tax should be 35%.
4. Additional foreigners stamp duty tax of 3 to 5% for buying property in Singapore. PR excluded.
5. Luxury tax of 10% for those who bought property above $2500 psf. This is a way to give back to society.
The interesting question is which authority will implement the scrapping. Property developers are not under MAS since they are not financial institutions. hence the only avenue MAS could do was to monitor/intervene via banks extending loans to property developers. Maybe this falls under Ministry of Finance purview...
Not sure if they will do this since retail mortgages arent exactly growing at the moment. Also curbing this may not necessary curb the speculation since majority of them do not take loans in the first place under deferred payment scheme
Govt implemented cap gains in 90s then removed it few years ago. For them to reinstate this may seem too much of a flip-flop. Not very pro-investor friendly to keep doing this.
This could happen. but last thing u want to do is stem the Foreign flows. Plus it would not address most of the flipping that is done by locals if restrict to foreigners only.
Not sure how much government wants to be perceived to be practicing discriminated taxing esp if they're cutting highest income tax bracket to attract talent i.e.
Grace Ng
Finance Reporter
The Straits Times
10 July 2007
The overall exposure of Singapore banks to property-related loans taken out by investment buyers and financial institutions amid the property boom is rising. But experts are not worried. A new Citigroup report says the percentage is set to climb from 27% of total loans currently to 'closer to 30%' by year-end.
But this is 'still comfortably below' a regulatory limit of 35%, it said. Foreign banks may be nearer to the limit than local ones, said Citigroup economist Chua Hak Bin yesterday.
All these figures exclude property loans taken out by owner-occupiers - about 80% of all bank loans.
If banks approach the limit, customers could be charged higher interest rates for investment- related mortgages compared to owner-occupied ones, suggested Dr Chua.
Mr Paul Kwee, Citigroup Singapore's corporate bank director and head of real estate, noted: 'In view of the recent increase in lending activity, it may well be that certain banks have less appetite, and may become more selective in granting loans, as well as in reviewing the terms that go with the loans.'
Dr Chua also pointed out that while speculative buying of property has risen and may climb further over the next few years, it is still well below the level seen in the property boom of the mid-1990s.
So bank-loan exposure to the property sector 'is likely to remain within tolerable limits'.
In May, about 25% of mortgages taken out by investment buyers and 33% of loans to financial institutions were property-related, estimated Citigroup. This works out to an overall property-related loan exposure for the banking sector of 28.7%, well below the 35% limit.
The limit was introduced by the MAS in May 2001, as a safeguard to limit the risks of the banking system's exposure to property loans, especially speculative activity.
But Dr Chua expects 'mortgage growth to accelerate' to near 30% in the next 6 months, as more new property projects are completed and some homebuyers on the deferred payment scheme apply for loans.
A higher proportion of new mortgages are likely to be investment-related, given the 'already high home ownership in Singapore of about 93%'.
OCBC Bank has seen the ratio of new applications for investment properties to owner-occupied ones rise, but the latter is still the 'key driver of overall sales', noted head of consumer secured lending Gregory Chan.
DBS Bank and Maybank said about a fifth of their Singapore mortgages are for investment properties, while Standard Chartered Bank said the percentage is between 15 and 20%. The rest are owner-occupied ones.
A Maybank spokesman argued that 'there is no direct relationship between loan rates and the 35% limit'. The pricing of mortgage rates and corporate loan rates depends on a combination of factors, such as the risk profile of the borrower, the purpose of the loan and the type of property mortgaged, she said.
In his report, Dr Chua also noted that property speculation may have increased, as reflected in the rise in sub-sale deals to about 10.5% of total transactions for the April to May period, compared with about 3% 3 years ago. But this is still much lower than the 1990s peak.
Jeana Wong
Channel NewsAsia
9 July 2007 2126 hrs
Rising rentals in Singapore have led to more expatriates buying properties here.
Property market watchers say a growing number of foreign executives are choosing to trade off living in upscale locations for bigger properties outside the city area and home ownership.
According to some calculations, average rents in Singapore went up by 35% in the first 6 months of this year over the same period last year.
This is causing expatriates to move to cheaper districts.
And anecdotal evidence is suggesting that of late, more are thinking of buying their flats.
Nicholas Mak, Consultancy and Research Director, Knight Frank, said: "Another group of expatriate tenants are actually considering buying properties - either buying the apartments they are renting, ... or considering asking for their rental package - their housing accommodation package - to be paid as a lump sum so that they can use that to purchase a home, maybe even a landed property."
Flats in prime districts now rent for an average of S$3.26 per square foot a month, while those just outside of the central areas are letting for $2.30 per square foot a month.
The districts of 9, 10 and 11 may be rental hotspots for most higher-end expats.
But analysts say those seeking to buy tend to go for the upper-mid level properties between 15 to 20 years old in outlying areas like Clementi, Toh Tuck and even Loyang and Pasir Ris.
Such expats, some of whom are permanent residents, typically have a budget of just over a million dollars.
Donald Han, Managing Director, Cushman and Wakefield, said: "We've actually started to see out of 10 expatriates that we serve, at least one will be looking into either leasing or potentially even buying. And quite a fair bit of those will ultimately decide to purchase rather than lease. Typically they'll look into the fringe of Districts 9, 10, and 11.
"They will look into properties which are not the top end, more into the upper-mid level, potentially within the S$800 to as much as S$1,200 psf. And the units could be of the size of one- to two-bedroom kind of apartments. For landed property, typically perhaps a District 21, landed terrace houses which might go in the region of a million to S$1.2 million."
Property market watchers say the upward pressure on rental prices is unlikely to let up over the next 12 months.
Mr Mak said: "Private home rentals are still going to face a lot of upward pressure for the rest of this year and probably for the first half of next year. This year alone, we could easily see average rentals go up by anywhere from 15% to even as much as 25%."
Mr Han said: "Rental will continue to rise by virtue that it's really a landlord's market. I suspect rental in the next 12 months will probably continue to rise between the range of about 20% to 25% from current levels."
This comes as demand continues to grow and collective sales aggravate the already limited supply available.
Over at the rochester it was the sohos that sold at the highest psf prices - 1,600psf. One interesting observation when I was scanning through the ads for One North. I do not see any sohos? Was there no SOHOs at one north?
JLL sees more intensive land use near Buona Vista Station
Area undergoing development to turn it into commercial and R&D hub
Kalpana Rashiwala
Business Times
Thursday, 10 January 2008
Lush greenery: 'The whole place will be very vibrant, like university towns in the US and UK,' says DTZ executive director Ong Choon Fah
Land use around Buona Vista Station is likely to be intensified to maintain the buzz from the development of one north and optimise the area's improved accessibility when the new Circle Line intersects with the existing East-West Line.
Lush greenery: 'The whole place will be very vibrant, like university towns in the US and UK,' says DTZ executive director Ong Choon Fah
Making the point in a study on likely changes in Master Plan 2008, Jones Lang LaSalle's head of research (South-east Asia) Chua Yang Liang says: 'Buona Vista is fast becoming the next sub-regional centre for the western region'.
The area is undergoing intensive development to turn it into 'a commercial and R&D hub' with social and recreational amenities, as envisaged by official planners.
Property consultants expect more intense land use to be confined largely to the areas close to the existing and adjacent new (Circle Line) MRT stations and to sensitively integrated with lush greenery and colonial-type buildings in places like Rochester Park and Wessex Estate to create a blend of the old and new.
'In other words, this is not going to be a sterile environment,' says DTZ executive director Ong Choon Fah. 'The whole place will be very vibrant, like university towns in the US and UK. MNCs tend to be attracted to where the talent is, where universities are.'
JLL identified several sites in the immediate vicinity of the existing and new Buona Vista MRT stations for its study on anticipated plot ratio changes in Master Plan 2008.
Two vacant state sites flanking the MRT stations, which are currently zoned for commercial use but without plot ratios specified in Master Plan 2003, could see plot ratios of 4.8-5.6 in Master Plan 2008, Dr Chua suggests, comparing them to the URA and MND buildings near Tanjong Pagar MRT Station and Revenue House near Novena MRT Station.
A reserve site - part of which is now used as a bus interchange - could be rezoned for commercial use integrated with a new bus interchange, JLL suggests in its study.
This would be akin to similar commercial buildings with bus interchanges near Ang Mo Kio and Toa Payoh MRT stations.
Two sites now zoned for Business 1 use (clean and light industrial/warehouse use) could have plot ratios raised from 2.5 to 2.8 to maximise their potential, JLL reckons.
New developments at one-north include Biopolis (the first two phases of which are already up) and Fusionopolis (phase 1 will be ready by the end of this quarter); a mixed use development by United Engineers that will include The Rochester condo, retail podium and business hotel; One North Residences by UOL, Low Keng Huat and Kheng Leong; and right next to the new Circle Line MRT Station, a civic, cultural and retail complex with a 5,000-seat theatre and a mall with mostly food and beverage and entertainment outlets, developed jointly by CapitaLand and Rock Productions. All of these are part of one north, which is positioned as an icon of a knowledge-based economy.
As well, Buona Vista is close to trendy areas like Holland Village and Rochester Park and several academic institutions including National University of Singapore, Insead, Anglo Chinese Junior College and Anglo Chinese School (Independent), and United World College, plus the emerging high-tech area of Tanglin Halt Industrial Estate.
Wah! one-north is hot man!
Ordinary
i must say, its a good area. eh, anyone seen the fusionopolis building? very impressive.. there's this bomb look-alike thing in the middle.
New Master Plan expected to see selective changes
Key sectors seen benefiting include hotels, aerospace, healthcare, transport
Kalpana Rashiwala
The Business Times
Tuesday, 6 May 2008
Urban Redevelopment Authority's Master Plan 2008 - which will be exhibited soon - will see changes in land use and increases in plot ratios, but these will be selective and focused on growth areas, rather than a widespread upgrade in densities, DBS Vickers Securities said in a report dated yesterday.
The strategic initiatives from the Master Plan will filter down to improved growth fundamentals for various economic sectors. While the property sector will be a key and obvious beneficiary, also standing to benefit from the strategic outline are the hotels, aerospace, healthcare, transport and construction sectors, the report said.
More land will be provided for development of the aerospace industry and the establishment of a designated hub near Seletar Airport will continue to provide strong fundamentals for the sector's continued growth. For the healthcare sector, DBS Vickers sees a medical hub developing around the Novena area and 'we could see rezoning of land parcels in this area to facilitate the development of this medical hub'.
It also suggests plot ratio increases in some mature HDB estates, as part of the rejuvenation plan. With Jurong and Paya Lebar earmarked as new business hubs outside the CBD, 'we are likely to see a concentration of Government Land Sale projects in these two areas in the medium term'.
Noting that the authorities have revealed plans for new residential enclaves such as the area around Marina South Gardens and Kallang Basin, it said, 'we expect rezoning and plot ratio adjustments in these areas'.
'We expect much of the key significant land use and plot ratio changes to be concentrated in certain strategic areas - Seletar (aerospace industrial use), Jurong (new regional centre), Paya Lebar (commercial hub near city fringe), Marina Bay (white sites and residential), Novena (medical and healthcare), Kallang Basin (residential) and Ophir-Rochor (mixed development).'
The report added: 'With the phased opening of the Circle Line from 2009 onwards, we also expect to see an increase in plot ratios for undeveloped state land sites that are close to Circle Line MRT stations, and in particular those that intersect with existing MRT stations.'
'With interchange stations planned at Paya Lebar, Serangoon, Bishan, Buona Vista, Harbourfront and Dhoby Ghaut, we believe that the highest potential for plot ratio changes could come at the Paya Lebar and Serangoon stations, given that the area around the remaining interchange stations are already relatively built up,' DBS Vickers said.
Newbie
The developer already sold way, way into the future. Any plot ration revision has already been factored into selling price. A "high" class condo in the midst of an industrial town? Actually walking distance from the factories at Ayer Rajah. Save transport costs.
12-storey is high plot ratio?
one-north is industrial park? You wanna mock Philip Yeo or EDB? He don't read this forum. Write to him or EDB directly.
A blurr **** (or pink ****) amongst the smart forumers?
Sure there are SOHO units at One North Residences. Limited units on top of the sold out (for $2000+psf) handful of shop houses facing the media school. I have one of the only two units in the whole development with 710 sq ft space in best stand alone block #59 (Other units are 500-600 sq ft) Are you interested? As second buyer you can qualify for deferred payment too. I want to change to a bigger 4 bedrm unit for own use. This place will surely be one very unique classy development.
haha trying to cash out right ....
Nope not at all. I will swop units with anyone who has a 3 bedder and wants to take some cash out. At first I bought for investment but now I'd like to move in myself and the SOHO is too small to move in with family.
Published May 27, 2008
@ one-north
A place for a meeting of minds
one-north, encompassing Biopolis and Fusionopolis, is Singapore's icon of the knowledge economy, reports CLARISSA TAN
THERE I was, standing in the middle of a gleaming complex of buildings, with blocks bearing names like Chromos, Proteos, Genome and Matrix. I was, of course, at Biopolis, conceived to put Singapore on the global map of the biomedical sciences industry. Biopolis itself is only one part of a vast development called one-north that is emerging around the Buona Vista area.
This 200 ha area is 'Singapore's icon of the knowledge economy', according to the one-north website. It encompasses Biopolis and Fusionopolis, a sprawling area dedicated to the media and information businesses.
In its widest interpretation, one-north includes Rochester Park, Insead business school and one campus of the Nanyang Technological University. Clearly, it is planned to be a kind of 'brain space' and creative nerve for Singapore.
But does the talent really like working here? I approached a man and a woman chatting to each other and posed them that question.
The woman's answer was emphatic. 'Yes, it's convenient. It's got everything - there are restaurants, cafes, shops. There's a shared system among all the corporations here, to take care of all our grocery and other needs.' They declined to give their names but said that they work at the Institute of Bioengineering and Nanotechnology.
And for those who think that the location is somewhat out of the way, there is the view of Edison Liu, executive director of the Genome Institute of Singapore (GIS). one-north is practically 'in the middle of the city', he said, speaking to BT in a phone interview as he was travelling in the US.
'We are only some 20 minutes from all the major hospitals and universities. It's not like some other research centres, where you're stuck in the outskirts of suburbia.'
GIS is the national flagship programme for genomic sciences, and occupies - of course - the Genome block at Biopolis.
'Of course I'm biased, but we are always counted among the top 10 genome centres in the world,' said Prof Liu. 'Within a 25-hundred-mile radius in Asia, there is no centre with better firepower than us.' He said that the institute has made its mark in the areas of stem cell genomics, systems pharmacology (which is research related to cancer) and genomic technology.
Slightly more than half of GIS staff is of foreign origin, said Prof Liu, who himself is from the US but is now a Singapore permanent resident. In that sense, the institute shares the international flavour of other big research institutes.
As I walked along the paved streets of Biopolis, it seemed to me that the place, barring the occasional person in a business suit, has the feel of a large university. There is a big food court for the more budget-minded, but also espresso pit-stops and several restaurants.
These eateries are not only great places to grab a meal, but also to swap ideas and contacts, according to Paul Chapman of GlaxoSmithKline. He is head of GSK's Centre for Research in Cognitive and Neurodegenerative Disorders.
'While it is certainly possible to have this kind of interaction if you are located on a separate campus, there is no substitute for bumping into someone at the food court or the cafe,' he said. 'Those casual interactions, where people get to know each other and then discover their mutual scientific interests, just happen more easily at a place like Biopolis.'
Opportunity for study
Novartis, another global pharmaceuticals corporation, houses its Novartis Institute for Tropical Diseases (NITD) at Chromos.
The institute 'is dedicated to discovering treatments for the diseases of the developing world, including tuberculosis, malaria and dengue fever', said Paul Herrling, NITD's head of corporate research and chairman.
'Biopolis's location in Singapore, a place where dengue is endemic, gives researchers the opportunity to study first-hand the epidemiology of the disease, and enables access to affected patients.'
one-north is not entirely about the medical and biotech sectors. Swissnex Singapore describes itself as a platform of the Swiss Embassy, 'facilitating knowledge and competencies' in science, education, art and innovation between Switzerland, Singapore and South-east Asia.
'Being at Biopolis brings us closer to the stakeholder,' said executive director Suzanne Hraba-Renevey. 'We are more visible and accessible to our users and have easy access to our partners from academia, research, government and business.'
The entire Biopolis project itself is yet to be completed, and consists of several phases. Across the road looms Fusionopolis 1, comprising 24 floors, two towers and 120,000 square metres of floor area.
The building, which represents phase one of the Fusionopolis project, is dedicated to infocomms, or media-related firms that use the latest in technology. It is equipped with satellite access and the necessary power and bandwith for intensive computer use. There are also service apartments, a roof-top swimming pool and a performance theatre.
Fusionopolis 1 has just opened its doors to tenants, and Asian Food Channel was the first to make it its home. When I visited the premises of the cable-and-satellite channel on the 12th floor, there were still boxes to be unpacked and everything was spanking new.
'We think three to five years ahead,' said managing director Hian Goh. 'In 12 months' time, there's going to be an MRT at the bottom of this building. There will be a Cold Storage and shops. There's a sky garden - it's beautiful.'
The new office is bright, airy and full of glass partitions. There is a room at the rear to be turned into a kitchen-cum-studio.
'That's where we'll have people like Gordon Ramsay doing his shows,' said Maria Brown, managing director of acquisitions and programming. 'We'll also be able to invite people over.'
I imagined the celebrity chef, brow furrowing, expletives flying, sticking a knife in a roasted carcass and calling it done.
'Please invite me,' I said.
How much are you looking at for your studio?
1288psf nett
Private Residential Property Transactions with Caveats Lodged
Project Name ........... Price .......... Floor Area . Price ........ Date Of Option
one-north Residences . $1,490,000 . 1,324sqft .. $1,125psf . May 08
Well i guessed now the market has turned sour and there is not much buyers out there who are willing to buy from subsale
The market is going to get worse from now. Price has fallen. Growth has slowed. US going into recession. Even PM lee is not optimistic. Bumpy ride ahead.And it is going to TOP soon as well. So those who bought earlier shld start selling soon..before it gets down further
hmm.. some agents whom bt it cheap at launching are trying to sell around 1200psf ! So if u wait a while, am sure you can pick up cheap from firesale !
You sounds like one of those panic flippers to me.
I would not even look at this project for anything above 800psf. You can easily get it at 1000-1050 psf at the momment. DOn't be fooled by asking price and it won't mean that much in a buyer market.
Newbie
A friend had just emailed me this article as a gentle reminder to be cautious of the times ahead. I share the same sentiment that property prices will fall in the coming months especially for those going to be TOP soon. Not everybody has that strong holding power ;so you may be able to get some good buys down the months instead of rushing into it now. Having said that, sometimes it is not easy to find another unit that has all the qualities that one like within a short span of time . As long as it is not for investment, guess it is still ok to buy now if money is not the main issue !
Recession is here!
Recession is coming ... make your own judgment, don't panic !! Do what is wise.
The recession looks very eminent. It is really time to take pro active steps to avoid a painful time in the next two years which is how long the recession is expected to last.
Suggestions:
1. Don't take any loans, buy homes, properties with loans, or even cash. Keep as much cash as possible.
2. Pay off as much of personal loans, private loans, as debt collection will be hastened.
3. Sell any stocks you can even at lower prices.
4. Take money off from Trust Funds.
5. Don't believe in huge sales forecast from customers, be extremely prudent, lowest inventories, reduce liabilities.
6. Don't invest in new capital.
7. If you are selling homes/ properties/ cars , do it now, when you can get good prices, they are going to fall.
8. Don't invest in new business proposals.
9. Cancel holiday plans using credit cards.
10. Don't change jobs, as companies will retrench based on 'last in first out'.
Stay cool, wait, and if you took all of the above actions and more, you probably will be better off then many.
This is not a rumor. Bear Stearns is the first of many banking and financial institutions that will start falling in the not too future. If Bear Stearns can fall, so can JP Morgan, Citibank, HSBC, and the whole world.
US economy falls, the rest will crumble. India and all those self economies will be the most protected, but not gullible. Europe may be a little stronger, but not China , another giant! Malaysia will see significant impact.
Cheers !
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