Oct developer sales probably just 700-800

[mr funny]

http://www.businesstimes.com.sg/sub/...57797,00.html?

Published November 5, 2009

Oct developer sales probably just 700-800

Estimate is down significantly from September's 1,143

By KALPANA RASHIWALA


(SINGAPORE) A BT poll this week of major developers as well as agents that marketed projects actively in October showed that about 660 private homes were sold in the primary market in October.

Developers reckon that, including other developments on the market, the total tally for primary market sales last month could come in at about 700-800 units - down significantly from the 1,143 private homes sold in September.

Developers' monthly home sales peaked at 2,772 units in July this year, according to official data from Urban Redevelopment Authority. Its figures on developer sales for October will be released on Monday.

Market watchers noted that October was generally a quieter month, with developers launching fewer units as well as recording slower sales.

'Things have become more cautious, after the constant messaging from the authorities advising home buyers that there's no need to rush, that they should take their time and that there'll be enough supply,' said a property consultant who declined to be named.

Most developers would have sold fewer homes last month compared with September, unless they had released new projects during the month.

Far East Organization may possibly have sold the most homes last month. It told BT that it sold 173 private homes, more than double the September result of 78 units.

The 173 figure is made up of 162 units in uncompleted projects (including 13 in joint venture projects) and 11 units in completed developments. Far East's top seller last month was Cyan, which is located along Keng Chin Road in the Bukit Timah area, with 76 units sold.

Cyan, which was released last month, is priced at $1,850 per square foot on average. Far East's other better selling projects in October included Silversea along Marine Parade Road, and Mi Casa in Choa Chu Kang.

A joint venture involving Koh Brothers, Heeton Holdings, KSH Holdings and Lian Beng Group is said to have sold 50-plus units at Lincoln Suites at Khiang Guan Avenue in October. More than 65 units were sold at Suites@Guillemard last month.

Ho Bee Investment executive director Ong Chong Hua, who reckons that developers sold about 700-800 homes in October, said that sales volumes would ease in the fourth quarter of this year.

However, prices are unlikely to drop, he added.

'If you look at the competitive bids at state land tenders, there's no reason for developers to price their projects cheap. We're generally optimistic about the market going forward.'

[ronyyk76]

http://www.businesstimes.com.sg/sub/...57797,00.html?

Published November 5, 2009

Oct developer sales probably just 700-800

Estimate is down significantly from September's 1,143

By KALPANA RASHIWALA


(SINGAPORE) A BT poll this week of major developers as well as agents that marketed projects actively in October showed that about 660 private homes were sold in the primary market in October.

Developers reckon that, including other developments on the market, the total tally for primary market sales last month could come in at about 700-800 units - down significantly from the 1,143 private homes sold in September.

Developers' monthly home sales peaked at 2,772 units in July this year, according to official data from Urban Redevelopment Authority. Its figures on developer sales for October will be released on Monday.

Market watchers noted that October was generally a quieter month, with developers launching fewer units as well as recording slower sales.

'Things have become more cautious, after the constant messaging from the authorities advising home buyers that there's no need to rush, that they should take their time and that there'll be enough supply,' said a property consultant who declined to be named.

Most developers would have sold fewer homes last month compared with September, unless they had released new projects during the month.

Far East Organization may possibly have sold the most homes last month. It told BT that it sold 173 private homes, more than double the September result of 78 units.

The 173 figure is made up of 162 units in uncompleted projects (including 13 in joint venture projects) and 11 units in completed developments. Far East's top seller last month was Cyan, which is located along Keng Chin Road in the Bukit Timah area, with 76 units sold.

Cyan, which was released last month, is priced at $1,850 per square foot on average. Far East's other better selling projects in October included Silversea along Marine Parade Road, and Mi Casa in Choa Chu Kang.

A joint venture involving Koh Brothers, Heeton Holdings, KSH Holdings and Lian Beng Group is said to have sold 50-plus units at Lincoln Suites at Khiang Guan Avenue in October. More than 65 units were sold at Suites@Guillemard last month.

Ho Bee Investment executive director Ong Chong Hua, who reckons that developers sold about 700-800 homes in October, said that sales volumes would ease in the fourth quarter of this year.

However, prices are unlikely to drop, he added.

'If you look at the competitive bids at state land tenders, there's no reason for developers to price their projects cheap. We're generally optimistic about the market going forward.'

A clear sign of cooling-off.

Some serious sellers may have to realise the fact that they have miss "the boat" in september.

[jc]

A clear sign of cooling-off.

Some serious sellers may have to realise the fact that they have miss "the boat" in september.

Serious sellers form the resale/subsale mkt some probably having units ready to move in/tenanted. Why equate them in the same segment as Developer units TOP in 2-3 yrs time?? Also, are u expecting mkt to digest 2k developer units every mth even in seasonally slower Q4?

[jwong71]

Serious sellers form the resale/subsale mkt some probably having units ready to move in/tenanted. Why equate them in the same segment as Developer units TOP in 2-3 yrs time?? Also, are u expecting mkt to digest 2k developer units every mth even in seasonally slower Q4?

YES.. DAMN.. Q4 is alway slower.
IM now thinking to withdraw my sale, and put up again next year.

While my agent frz is pressing me to bite the offer,that came in today.

[jc]

YES.. DAMN.. Q4 is alway slower.
IM now thinking to withdraw my sale, and put up again next year.

While my agent frz is pressing me to bite the offer,that came in today.

I am not sure whether this yr would be similarly slow for Q4 as well. As RWS is going to open soon by Jan next yr, buy/sell activities might still be going on. Well regardless of transaction volume, prices likelyhood contune heading north. Else the 2 IR will look like jinx??

[jwong71]

I am not sure whether this yr would be similarly slow for Q4 as well. As RWS is going to open soon by Jan next yr, buy/sell activities might still be going on. Well regardless of transaction volume, prices likelyhood contune heading north. Else the 2 IR will look like jinx??

Anyway i just signed at 6pm, sold MP again. A 2nd unit. Flipped out sibei fast. Didnt know old condos have its charm too.

Afterall, is cheaper to hold and rent if cant flip out.. And flipping old cheaper condos is faster than any expensive condos ard.

Last one left to go.. Before cheong to town!!

[jc]

Anyway i just signed at 6pm, sold MP again. A 2nd unit. Flipped out sibei fast. Didnt know old condos have its charm too.

Afterall, is cheaper to hold and rent if cant flip out.. And flipping old cheaper condos is faster than any expensive condos ard.

Last one left to go.. Before cheong to town!!

Congrats!! Just curious how much did u profit from flipping MP? (U can PM me if u like) I never dare to flip mass mkt condo n may be missing something.

[DuffyDuck]

Newbiee.... how do we flip? Before the option is exercise ? (2 weeks before paying the 4%) or before you received the keys

[jwong71]

Newbiee.... how do we flip? Before the option is exercise ? (2 weeks before paying the 4%) or before you received the keys

Either buy more hses and learn through experiences, or mixed ard with the top agents and you will be there..

Dominic from propnex is someone u can look forward to learn from,a REALLY nobody with nothing.And not with gd background.
Drove a 1991 colt turbocharged in the hey days.

Now with 3-5million,from 335i mockup 450bhp. And upgraded to M5.

Let see if the rich would teach,wad u may not know.