Page 1 of 2 12 LastLast
Results 1 to 30 of 36

Thread: Property run-up may end in 2010

  1. #1
    xebay11 is offline New Launch Project Specialist
    Join Date
    Aug 2009
    Posts
    1,439

    Default Property run-up may end in 2010

    http://news.asiaone.com/News/the%2BS...02-165049.html

    Property run-up may end in 2010: UK group Wed, Sep 02, 2009
    The Straits Times

    By Joyce Teo
    THE run-up in Singapore's private home prices may fizzle out next year, as several obstacles are still impeding global growth momentum.
    That is the view of London-headquartered Royal Institution of Chartered Surveyors (Rics), which represents and regulates property professionals and surveyors.

    It issued a report on Monday

    concluding that the sharp residential market rebound here may peter out. It cited higher unemployment in Singapore as a potential risk factor that could undermine the property rebound here.

    Must be because of those $8k pm month salaries, which many are getting without the skills or productivity to back their salaries, making Singapore very uncompetitive.
    Last edited by xebay11; 02-09-09 at 09:58.

  2. #2
    Join Date
    Apr 2009
    Posts
    5,841

    Default

    we have not reached our critical population level of 6 million yet and influx of foreigners have not reached full steam yet, so how could the run-up in property prices end in 2010. Moreover with delay in IR and with many government projects to upgrade the heartlands on the pipeline in the coming years, how can the writer sensibly say that runup in prices will end in 2010? I can say that prices in the prime have corrected to a sensible level for certain projects with the exception of some projects but not all. I see D12 properties having yet to realise its full potential and certain D15 properties which is why there are still many gems to pick in the pty market.

  3. #3
    Join Date
    Nov 2008
    Posts
    1,141

    Default

    Quote Originally Posted by Regulators
    we have not reached our critical population level of 6 million yet and influx of foreigners have not reached full steam yet, so how could the run-up in property prices end in 2010. Moreover with delay in IR and with many government projects to upgrade the heartlands on the pipeline in the coming years, how can the writer sensibly say that runup in prices will end in 2010? I can say that prices in the prime have corrected to a sensible level for certain projects with the exception of some projects but not all. I see D12 properties having yet to realise its full potential and certain D15 properties which is why there are still many gems to pick in the pty market.

    Agree with you. Come one day all the condo bench mark will ne 1000psf

  4. #4
    xebay11 is offline New Launch Project Specialist
    Join Date
    Aug 2009
    Posts
    1,439

    Default

    Demand may be there but if there are massive retrenchments and layoffs how to buy?

  5. #5
    Join Date
    Dec 2008
    Posts
    117

    Default

    Quote Originally Posted by xebay11
    Demand may be there but if there are massive retrenchments and layoffs how to buy?
    You are reading the wrong news bro. SG economists already stated that sg economy will improve next year, drop lesser this year. Government already said that retrenchmnet nos have peaked and will fall further and will not reach 97 levels. This means there will not be massive layoffs in the months ahead.

    The government has all the statistics, in talk with the unions, have the tools to keep this rate down. Have the most accurate picture, I wonder what info/data did IMF and RIC use to come up with their interesting news that made headlines?

    Agree that the government predictions tend to off by a certain margin, but the IMF and RIC (who are they by the way) seem to be off by a mile. Between inacurate and grossly inaccurate data, i will take the former.

    Last but not least let me ask u a question, during this round of recession, people in which industry faced the most layoffs? Are they likely to even buy condos?

  6. #6
    Join Date
    Apr 2008
    Posts
    1,286

    Default

    Quote Originally Posted by xebay11
    Must be because of those $8k pm month salaries, which many are getting without the skills or productivity to back their salaries, making Singapore very uncompetitive.
    How much skills or productivity do Wall Street bankers have to justify their $800k pm salaries?

    Or, for that matter, how productive is Warren Buffett? How many widgets did he produce in his whole life?

  7. #7
    Join Date
    Apr 2009
    Posts
    1,069

    Default HDB resale price will rise

    Obviously, Mr Mah Bow Tan is pretty bullish about price of HDB resale flats:


    HDB resale flat prices - already at record high levels - are likely to continue rising this year, said National Development Minister Mah Bow Tan on Wednesday.
    'The flat prices would probably go up ... by 1 per cent, 2 per cent,' said Mr Mah. 'It will just keep on going up if the economy recovers as people expect, and if confidence returns but affordability will always be there.'
    HDB resale prices rose 1.4 per cent in the second quarter to a record high.
    Resale flat prices go up in tandem with a very strong market, Mr Mah told reporters at the launch of the final skybridge at The [email protected] on Wednesday.
    'We subsidised you when you buy and we increased the value of your flat when you live in it and... facilitate you to monetise it when you grow old. This is the best form of investment and welfare for the people,' said the minister.

  8. #8
    Join Date
    Dec 2008
    Posts
    532

    Default

    it is because there isnt enough skilled workers in sg that we have to rely on foreign talents and that keeps the pay scale high.
    retrenchments normally impact the older aged workers and the blue collar line.

    it is always up to you to strife for higher pay.

  9. #9
    teddybear's Avatar
    teddybear is offline Global recession is coming....
    Join Date
    Mar 2009
    Posts
    10,800

    Default

    Private properties in Singapore supported by foreigners mainly and also % of household with income >$8k has increased to 35%! So layoffs & retrenchments or not (which affect the lower income only) probably do not seem to affect the property market.

    Quote Originally Posted by xebay11
    Demand may be there but if there are massive retrenchments and layoffs how to buy?

  10. #10
    xebay11 is offline New Launch Project Specialist
    Join Date
    Aug 2009
    Posts
    1,439

    Default

    I hope all of you are right, you all seem confident of bouyant job market, BTW what is the definition of older workers? 45?

  11. #11
    mr funny is offline Any complaints please PM me
    Join Date
    May 2006
    Posts
    8,129

    Default

    http://www.straitstimes.com/Money/St...ry_424360.html

    Sep 2, 2009 Wednesday

    Property run-up may end in 2010: UK group

    But CapitaLand remains bullish and will launch two new projects soon

    By Joyce Teo


    THE run-up in Singapore's private home prices may fizzle out next year, as several obstacles are still impeding global growth momentum.

    That is the view of London-headquartered Royal Institution of Chartered Surveyors (Rics), which represents and regulates property professionals and surveyors.

    It issued a report on Monday concluding that the sharp residential market rebound here may peter out. It cited higher unemployment in Singapore as a potential risk factor that could undermine the property rebound here.

    In contrast, top local developer CapitaLand remains bullish in its outlook for Singapore, and will soon launch a 1,000-unit condo in Gillman Heights and 165 resort-style homes at the former Char Yong Gardens site. CapitaLand's upbeat outlook on the market here was reflected in slides presented by its vice-president of investment Anson Lim at a CapitaLand CEOs forum held yesterday.

    The current market upswing is being driven by positive sentiment and supported by long-term fundamentals, according to the slides. CapitaLand expects the Urban Redevelopment Authority price index to recover between 5 per cent and 10 per cent for the rest of this year, from the trough in the second quarter. The index showed a fall of 4.7 per cent in the second quarter.

    The Rics report was rather less optimistic. It said while an upturn in activity is already well under way in the residential market, significant risks present a challenge to the market in the medium term.

    'Labour market indicators, such as unemployment, certainly point to a less benign story,' it said. Unemployment in Singapore looks set to rise sharply in the coming quarters. Based on previous relationships with the world trade index, unemployment could easily climb to 5 per cent before the year is up, it said.

    Singapore's unemployment rate was 3.3 per cent in June. Labour chief Lim Swee Say said last month that the jobless rate this year was unlikely to match the peaks of past downturns. The rate peaked at 4.3 per cent in 2003.

    In the short term, residential prices may be propelled higher on an improved global economy into the fourth quarter, said the Rics report.

    However, the duration of previous downturns indicates further declines in prices may well occur, should global trade momentum fall short in the medium term as high debt and rising real interest rates weigh on the strength of the global growth recovery, it said.

    This, it added, would temper buoyancy in the Singapore labour market and in turn would prevent a return to previous highs in the property sector.

    The Rics report also noted that the run-up in office prices has been less acute, compared with residential prices'.

    'Despite improved signs that economic activity in Singapore has passed its worst point in the cycle, the global economy will once again be pivotal in dictating the sustainability of that upturn, with real property prices unlikely to surpass recent highs in the coming quarters,' it said.

    [email protected]

  12. #12
    Join Date
    Feb 2009
    Posts
    5,837

    Default

    Quote Originally Posted by Property_Owner
    Agree with you. Come one day all the condo bench mark will ne 1000psf

    ahahah thats what that old man told me last year ... 1000 psf base

  13. #13
    Join Date
    Dec 2008
    Posts
    532

    Default

    Quote Originally Posted by xebay11
    I hope all of you are right, you all seem confident of bouyant job market, BTW what is the definition of older workers? 45?
    official retirement age (for male) will be raised to 65 in 2012.
    i would consider 50 above to be old. Definitely for me, i would want to retire by then.

  14. #14
    Join Date
    Feb 2009
    Posts
    5,837

    Default

    Quote Originally Posted by cl0ver
    official retirement age (for male) will be raised to 65 in 2012.
    i would consider 50 above to be old. Definitely for me, i would want to retire by then.
    my goodness 65 years old ?

    just becos he so old already YET refuse to step down ..but create stupid title for himself ..to collect salary and make the commoners work to 65 to pay him ??

  15. #15
    Join Date
    Dec 2008
    Posts
    532

    Default

    hahhaha, what to do? we don't have to follow what....
    plan our own retirement....

  16. #16
    Join Date
    Feb 2009
    Posts
    5,837

    Default

    Quote Originally Posted by cl0ver
    hahhaha, what to do? we don't have to follow what....
    plan our own retirement....

    if i am 65 and still working in McDonald's cleaning toilet .. and they give me a title " Senior Mentor Toilet Cleaner" and pay me shit loads of money ... to keep quiet / do nothing .. and talk only when our pilots not happy with their pay ..


    or have an aeroplane fly to London just to pick up my ailing wife ...


    of course i will continue to work ...

  17. #17
    Join Date
    Apr 2009
    Posts
    1,069

    Default

    Quote Originally Posted by proud owner
    ahahah thats what that old man told me last year ... 1000 psf base
    In TA, once a resistance is broken, it becomes the support But I think support for secondary mass market condo still at 600psf. New launch can be from 600psf at Pasir Ris, all the way up to 1150psf at AMK

    And Economists expect GDP growth this year to be better than expected at -3.6% (gov estimate -4 to -6%).
    Last edited by jitkiat; 03-09-09 at 09:51.

  18. #18
    Join Date
    Apr 2009
    Posts
    5,841

    Default

    i am just waiting for places like Jurong to hit 1000psf then I think there will be a serious buying frenzy for any property in the central going at less than 1000psf. Centro is the first of its kind in the OCR crossing the $1200psf mark it could just be the beginning of such trends. Again govt controlling land prices and all MRT land regardless of which part of singapore will be going at a premium. For the next 10 years, developers will continue to snap up MRT land and prices of all new condos beside MRT will be priced steeply due to continual demand for such properties.


    Quote Originally Posted by Property_Owner
    Agree with you. Come one day all the condo bench mark will ne 1000psf

  19. #19
    Join Date
    Apr 2009
    Posts
    5,841

    Default

    pardon my language but who the f*** wants to work past or up to 65 years old apart from those men in white who can collect million dollar salaries for doing little or nothing. Maybe if i am going to be elected president i won't mind getting paid $3 million a year just to go around gracing ceremonies, attending parades, travelling around the world on all expenses paid trip just having coffee/tea sessions with other leaders. Nobody gets paid right apart from the top 1% of singaporeans (which includes MPs) so only the top 1% of singaporeans would be telling the other 99% of the population to work till they die.

    Quote Originally Posted by cl0ver
    official retirement age (for male) will be raised to 65 in 2012.
    i would consider 50 above to be old. Definitely for me, i would want to retire by then.

  20. #20
    Join Date
    Apr 2008
    Posts
    1,286

    Default

    Quote Originally Posted by Regulators
    i am just waiting for places like Jurong to hit 1000psf then I think there will be a serious buying frenzy for any property in the central going at less than 1000psf. Centro is the first of its kind in the OCR crossing the $1200psf mark it could just be the beginning of such trends. Again govt controlling land prices and all MRT land regardless of which part of singapore will be going at a premium. For the next 10 years, developers will continue to snap up MRT land and prices of all new condos beside MRT will be priced steeply due to continual demand for such properties.
    Something really strange is going on in Singapore's property market ...

    Suburban condos like Centro are now going for around $1200 psf while an investment fund recently bought 21 units at Sui Generis condo at Balmoral Crescent for $65 million, or $1,260 psf.

    Is Balmoral Crescent now equal to Ang Mo Kio?

    Something really really strange is going on ...

    Either prime properties are now severely underpriced, or suburban properties are severely overpriced!

  21. #21
    Join Date
    Jun 2007
    Posts
    90

    Default

    Ang Mo Kio is where the ang mo stays

    Quote Originally Posted by jlrx
    Something really strange is going on in Singapore's property market ...

    Suburban condos like Centro are now going for around $1200 psf while an investment fund recently bought 21 units at Sui Generis condo at Balmoral Crescent for $65 million, or $1,260 psf.

    Is Balmoral Crescent now equal to Ang Mo Kio?

    Something really really strange is going on ...

    Either prime properties are now severely underpriced, or suburban properties are severely overpriced!

  22. #22
    xebay11 is offline New Launch Project Specialist
    Join Date
    Aug 2009
    Posts
    1,439

    Default

    All illogical decisions but who cares? as long as you are not one of them.

  23. #23
    Join Date
    Apr 2009
    Posts
    5,841

    Default

    but if everything remains as status quo for the next decade and price movements are always only seen in the usual D1, D9, 10 and 11, wouldnt the pty mkt be really boring? Singapore is that small a country and it isnt that difficult for our govt to make practically everywhere in singapore a desirable location to own a property...


    Quote Originally Posted by xebay11
    All illogical decisions but who cares? as long as you are not one of them.

  24. #24
    Join Date
    Apr 2008
    Posts
    1,286

    Default

    Quote Originally Posted by hans
    Ang Mo Kio is where the ang mo stays
    According to official sources, the name "Ang Mo Kio" comes from a combination of rambutan trees and some bridge found around that area.

    This "ang mo" and that "ang mo" are very different ...



    Which "ang mo" do you think will be found at Centro @ Ang Mo Kio, and which "ang mo" at Sui Generis @ Balmoral Crescent?

    Quote Originally Posted by Regulators
    but if everything remains as status quo for the next decade and price movements are always only seen in the usual D1, D9, 10 and 11, wouldnt the pty mkt be really boring? Singapore is that small a country and it isnt that difficult for our govt to make practically everywhere in singapore a desirable location to own a property...
    Even with price movements, there should be a differential between prime and suburban properties.

    The situation now seems that the price of suburban condos has shot up very high, while that of prime condos is still very subdued. For example, Ardmore Park, the Creme de la Creme of condos, is going for only around $2,400 psf, barely two times the price of the Centro @ Ang Mo Kio!

    I don't think people staying at Ardmore Park earn only two times that of those buying Centro. Ten times would be a closer ballpark.

    If it were the stock market, this would present an excellent arbitrage opportunity. Buy one put option for Centro at $1,200 psf and buy one call option for Sui Generis at $1,200 psf.

    Whether the market subsequently goes up or down, sure to make money!

  25. #25
    Join Date
    Feb 2009
    Posts
    5,837

    Default

    Quote Originally Posted by jlrx
    According to official sources, the name "Ang Mo Kio" comes from a combination of rambutan trees and some bridge found around that area.

    This "ang mo" and that "ang mo" are very different ...



    Which "ang mo" do you think will be found at Centro @ Ang Mo Kio, and which "ang mo" at Sui Generis @ Balmoral Crescent?



    Even with price movements, there should be a differential between prime and suburban properties.

    The situation now seems that the price of suburban condos has shot up very high, while that of prime condos is still very subdued. For example, Ardmore Park, the Creme de la Creme of condos, is going for only around $2,400 psf, barely two times the price of the Centro @ Ang Mo Kio!

    I don't think people staying at Ardmore Park earn only two times that of those buying Centro. Ten times would be a closer ballpark.

    If it were the stock market, this would present an excellent arbitrage opportunity. Buy one put option for Centro at $1,200 psf and buy one call option for Sui Generis at $1,200 psf.

    Whether the market subsequently goes up or down, sure to make money!

    hahahah

    i like your put and call options trade ... and YES i totally agree with you .. maybe we shouldnt say in time to come 1000 psf will be the base thru out spore .. more like , FOR PRIVATE CONDOS, 1 MIO IS THE BASE ..

    that way regardless of location , as long as developers price them at and around 1 mio ..Singapore will buy ...


    people fail to see that ultimately it comes down to PSF ... now only looking at the absolute amount ..which is just lying to themselves

  26. #26
    Join Date
    Apr 2009
    Posts
    923

    Default

    could be a case of both..

    one over priced and the other underpriced.. Bulk discount to special customers.

    Not strange at all... strange would be property run during a recession, evident from flippers who gain $50k or more... we are still in a recession.


  27. #27
    Join Date
    Apr 2009
    Posts
    5,841

    Default

    For the sake of argument, what then do you think is the yardstick to decide what the gap should be between let's say a condo in Jurong West and the creme de la creme Orchard Scotts and Ion? If transport, accessibility and location is indeed the yardstick to decide, everywhere in singapore is just minutes away in a car coz our island is tiny, so what is to say that a condo in D9 and D1 should be $3000 to 4000psf and a condo in Jurong should remain at below $700psf forever? Some of you are probably going to say that the market forces should decide, but apart from that, is there any other better way to explain how valuators value properties just for what they are without elements that artificially inflate the prices?


    Quote Originally Posted by jlrx
    According to official sources, the name "Ang Mo Kio" comes from a combination of rambutan trees and some bridge found around that area.

    This "ang mo" and that "ang mo" are very different ...



    Which "ang mo" do you think will be found at Centro @ Ang Mo Kio, and which "ang mo" at Sui Generis @ Balmoral Crescent?



    Even with price movements, there should be a differential between prime and suburban properties.

    The situation now seems that the price of suburban condos has shot up very high, while that of prime condos is still very subdued. For example, Ardmore Park, the Creme de la Creme of condos, is going for only around $2,400 psf, barely two times the price of the Centro @ Ang Mo Kio!

    I don't think people staying at Ardmore Park earn only two times that of those buying Centro. Ten times would be a closer ballpark.

    If it were the stock market, this would present an excellent arbitrage opportunity. Buy one put option for Centro at $1,200 psf and buy one call option for Sui Generis at $1,200 psf.

    Whether the market subsequently goes up or down, sure to make money!

  28. #28
    Join Date
    Nov 2008
    Posts
    1,141

    Default

    Our next next generation will have to stay in Pulau Ubin in near future for affordable HDB flats.

    We have a god-like minister who able to control the economic cycles.

    Robbing Peter to pay Paul.

  29. #29
    Join Date
    Dec 2008
    Posts
    532

    Default

    Sui Generis is probably like private placement.
    public would never get to buy at that price.

  30. #30
    Join Date
    Apr 2008
    Posts
    1,286

    Default

    Quote Originally Posted by proud owner
    hahahah

    i like your put and call options trade ... and YES i totally agree with you .. maybe we shouldnt say in time to come 1000 psf will be the base thru out spore .. more like , FOR PRIVATE CONDOS, 1 MIO IS THE BASE ..

    that way regardless of location , as long as developers price them at and around 1 mio ..Singapore will buy ...

    people fail to see that ultimately it comes down to PSF ... now only looking at the absolute amount ..which is just lying to themselves
    I think Singapore is going the way of Hong Kong or even Tokyo ... where some small apartments are only 300 sf.

    Then even Ang Mo Kio or Toa Payoh can price at $2,400 psf same as Ardmore Park, and the total price is only around $700,000 ... very affordable ... sure got long queue.

    Even better, sell only 1 sf each (like stocks) with a certificate that you own 1 sf. Then even if priced at $10,000 psf, that's only $10,000 ... very affordable. Many people will queue up overnight.

    Quote Originally Posted by Regulators
    For the sake of argument, what then do you think is the yardstick to decide what the gap should be between let's say a condo in Jurong West and the creme de la creme Orchard Scotts and Ion? If transport, accessibility and location is indeed the yardstick to decide, everywhere in singapore is just minutes away in a car coz our island is tiny, so what is to say that a condo in D9 and D1 should be $3000 to 4000psf and a condo in Jurong should remain at below $700psf forever? Some of you are probably going to say that the market forces should decide, but apart from that, is there any other better way to explain how valuators value properties just for what they are without elements that artificially inflate the prices?
    Pricing is very subjective.

    Pricing is all about the opinion of people whose opinion matters, i.e.

    Ang Mo

    If one day she decides that Jurong West is better than Orchard Road, then Jurong West will be $3,000 to $4,000 psf while Orchard Road will become $700 psf.

Similar Threads

  1. Property market sentiments 2010
    By Property_Owner in forum Singapore Private Condominium Property Discussion and News
    Replies: 4291
    -: 28-12-10, 23:54
  2. BT Property 2010 - 23/09/10
    By mr funny in forum Singapore Private Condominium Property Discussion and News
    Replies: 38
    -: 26-09-10, 12:15
  3. Private property strong in 2010
    By mr funny in forum Singapore Private Condominium Property Discussion and News
    Replies: 0
    -: 15-05-10, 02:03
  4. BT Property, 25 March 2010
    By mr funny in forum Singapore Private Condominium Property Discussion and News
    Replies: 17
    -: 26-03-10, 00:06
  5. UBS Singapore Property 22 Jan 2010
    By ahlahdin in forum Singapore Private Condominium Property Discussion and News
    Replies: 2
    -: 25-01-10, 17:42

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •