Originally Posted by Unregistered
680psf !!!!!!
Wow! Cheap leh.
Lower than the lowest developer's price.
Originally Posted by Unregistered
680psf !!!!!!
Wow! Cheap leh.
Lower than the lowest developer's price.
Hello!
Your data accurate or not?
I spotted a few identical repetitions?
You created the identical repetitions to smoke people with the larger number ah?
Like dat no good leh!
check the website yourself at www.singaporeexpats.com <br/>
http://www.singaporeexpats.com/housi...05-sESTATE.htm
OneNorthRes was >95% sold out in the 2nd wk of Mar. so the caveats lodged in May / June (cos SPA must be completed in max. 8 wks) are likely subsale. The below data from URA seems to reveal fewer successful subsales so far -- and the last caveat lodged in Jun indicates only $808psf for a 2BR (the 2nd most recent deal was at $955psf though). Guess most flippers are still not making it... that explains why here are so many nervous / offensive forumers constantly trying to talk up the market & their properties.
Shot at 2007-07-04
Originally Posted by Unregistered
Can you don't smoke?
My 3-bedroom unit was sold recently below $1,000 psf (more than $955 psf). It will be reflected in the URA website soon.
The highest subsale done so far is close to $1,100 psf. I believe it was done in April.
Although I am out of One-North Residences now, I just hate to see "smoker".
You want to buy cheap? Say so lah!
Originally Posted by Observer.
The lowest psf sold by UOL is $722.48 psf.
This guy is trying to smoke us with $680 psf.
What a disgrace!
Originally Posted by Bypasser.
Bypasser, you are right!
This thread has lots of actions!
There are many interested parties.
so this this project launching today tommorrow?
Originally Posted by Unregistered
Don't tell you.
Ah ah ah!
just call up any dtz agent and they will tell you.
rumour is 80% has been pre-sold internally so only 20% left on 16 of july when it opens to the public.
Originally Posted by Unregistered
Expected lah.
They started their overseas publicity jobs since March this year.
Good for District 5 folks.
Originally Posted by Ex-Owner
Originally Posted by Onepolis
Congrats in selling your One-North 3-bedroom.
There are a lot of One-North subsales done at $1,1xx psf.
Everyone should just go to URA website and check for themselves.
This is great man. Buy at all costs. I am willing to buy at 3000 psf. This is it man. The best in the area. Worth every cent. I can sure sub-sale at 4000 to 5000 psf. There will be a mad rush for this project. Mad rush, overnight queues. Get my cheque ready to hand an empty one to my agent - buy as long as under 3500psf. Go Go Go. ... hold on, let me check my bank book --- aiyah not enough to buy!!!
So you miss the boat lor.
Originally Posted by Unregistered
Hello!
Not enough cash to buy an unit there
but enough time to b.s. here.
Give up!
Originally Posted by Unregistered
Minister Mah says got a lot of boats leh.
Originally Posted by Seng
Mah or ma?
If your ma say got lots of boats, you better believe it.
If ......
if this project is on a deferred payment scheme the remaining 20% that is available will fly. just think 80% of units snapped up internally... with the much greater public demand i bet that the 20% will be sold out in a day....
Prices are still affordable for middle-income and HDB heartlanders, he says
(Edited transcript of SM Goh's interview with CNBC)
Irene Ngoo
AsiaOne
6 July 2007
Property prices in Singapore are at the "higher end" now but this does not mean a property bubble forming, said Senior Minister Goh Chok Tong.
While he noted that the property market is active, he said the government is "not too worried" and is watching the property market closely.
Mr Goh said this in an interview with CNBC, when he was asked if a property bubble seems to be forming in Singapore.
"Property bubble is short-term. I think the property market is active, but at this stage, we are not too worried. The prices are at the higher end. We watch very closely," he said in the interview, aired on CNBC today.
"Prices for the middle-income and for the HDB heartlanders … are still quite affordable for Singaporeans in general. So, my worry will be where do we go from here? It's a longer-term worry. It's not a short-term worry. It comes back to my point about talent. For Singapore to grow, you need talent, talent from Singaporeans or within Singapore and talent from outside."
Private home prices have shot up across the board in Singapore because of the property boom, robust economy and influx of foreign capital. The continuing rising trend has raised concerns that the property is getting overheated.
Estimates released by the Urban Redevelopment Authority (URA) earlier this week show that private property is on a dramatic upswing with plenty of momentum. Prices for the April to June period rose 7.9% – the biggest jump since the third quarter in 1999, when the market staged a brief recovery before sliding into a lengthy slump. The increase comes on top of a 4.8% rise in the first three months this year.
The Senior Minister said some MNCs have complained about the rising rental because of the property boom here but they are not staying away.
Mr Goh was interviewed for a CNBC special marking the 10th anniversary of the Asian financial crisis. He was then Prime Minister of Singapore when the financial meltdown swept the region, bringing several Asian economies to their knees. Singapore was not spared either, and was forced to cut 20,000 jobs, wages and CPF contributions.
Asked if rising costs could put Singapore at risk again of another crisis, SM Goh said: "I myself do not think a financial crisis is going to happen. The stock markets in Asia, of course, are very lively. Share prices are generally at an all-time high, but the banking structure is strong. In Singapore, we are resilient and have hardly any non-performing loans which we need to worry about."
"We have separated the non-financial activities of the banks from the financial activities. Banks running hotels, for example, and other non-financial activities have been taken out. So, in Singapore, we are less concerned about another financial crisis. But in the region, I think we need to watch that. But generally, my sense is that the banking industry in the region is also resilient."
SM Goh, who is chairman of the Monetary Authority of Singapore, also made this point in an earlier interview yesterday with the BBC, saying that while Singapore's buoyant stock market may suffer a correction, a financial crisis is not on the way. He also said that the government should not interfere in the stock market.
Asked again by CNBC if rising costs - not just business costs but cost of living as well - could put Singapore at a disadvantage, he said this is a worry and the government is monitoring inflation.
He added: "Costs are always a factor, but generally, you do want the standard of living of Singaporeans to go up. And a higher standard of living means more income in real terms, in the real sense. We do monitor inflation."
"Costs - we do worry. But that means you've got to move into higher value-added industries, like biomedical services and financial services, education, health and so on. We cannot be doing things which we were doing before 1997, where China and India will become much more competitive. So, costs are always important, but we are not going to allow costs to prevent us from growing. Just move into the right sector."
Has this kept any MNC from setting up base here or setting up plants here?
SM Goh said: "We are seeing quite a few of these - not so much in the manufacturing side but MNCs in the sense of international financial institutions - more wealth management, hedge funds and other such regional head offices are being set up in Singapore."
On the biggest lesson from the Asian financial crisis, Mr Goh cited having a strong financial sector as a key factor to withstand such a shock.
"We realised very much earlier that the financial industry is a global industry and, therefore, you’ve got to be more aware of what’s happening in the world and in the region, in particular. So you've got to set up, not just internally but also externally, a system of regional surveillance of the financial performances of banks outside Singapore too. In other words, it requires cooperation from other countries as well."
Just as Singapore has learnt a lesson from the financial upheaval a decade ago, he said other Asian economies are also "very much more acutely aware of the importance of bank supervision and good corporate governance."
"Our neighbours' own banking sectors - as far as you can see - are also much more resilient today than during the financial crisis or just before that."
so buy buy buy!!
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:Originally Posted by Unregistered
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.
If you were the government, we would all be in trouble. All these measures are exclusive and narrow-minded, helping certain sectors of the economy and hurting the others.Originally Posted by Unregistered
If all these measures are announced at the same time, the singapore economy would go into recession, you and I would be living in a kambong again.
Originally Posted by Unregistered
I agree with the first 3: they discourage speculation while those buying for own stay or long term investment will not be affected. It makes the growth healthier & more sustainable. I would guess they're coming soon -- MM Lee said the government will check the property prices and ensures it's competitive in the region. <br> <br/>
Unless the foreign funds are so huge that they buy off the supply to disturb the domestic market, to lock them in (by the tax on first 2 yrs transactions) is not a bad idea. Your measure 5 is not practical in defining what are luxury projects.
"helping certain sectors ... and hurting the others" so it is not true statement that "we would ALL be in trouble". Actually the flippers & speculative activities are hurt; those buying for own stay or long term investment will enjoy a sustainable growth over longer term. If some measures are carefully applied so that it 'cools down' the hot market but does not crash, most will benefit. Government whould not allow the craze continue too long, or it will eventually damage the market momentum.Originally Posted by Unregistered
I am not a flipper either. but economics 101 says that flippers and punters are not necessarily a bad thing. Without them, an economy will not reach a new equilibrium quickly. It may take years for a new paradigm to be translated into a reality. Punters and speculators perform the same role and venture capitalists in that they find market inefficiencies and exploit it to everyone's advantage.
Granted, there can be too much speculation and too much risk taking. but how is the government to know when that point has been reached? Even Alan Greenspan during the dot com craze did not intervene, because he knew premature intervention can do more harm than good.
In hindsight, were the 1996 anti-speculation measured put in place justified. I don't know the answer, but I know they were one reason Singapore economy remained in the doldrums for a decade.
I am also worried, that this clamoring for government to crack down is made by those "who missed the boat" and want the prices to go back to a level where they will jump in. that is just not fair for those to take risk and jumped in first.
just my two cents. Both the flippers and those that complain about them are motivated by greed. and LKY knows that.
Originally Posted by Unregistered
You need hedging and speculation to make the market more (price) efficient.
1. Scrap deferred payment schemes and return to progressive payments.
2. No bank loan amount above 80% of property value. it is important to ensure a healthy banking sector.
3. Capital gain tax of 20-25% for sub-sale of property U/C & bought within 1 yr and 10-15% for sub-sale of property bought within the last 2 yrs.
4. tighten the rules for enbloc -- such as enbloc sales of properties less than 15 yrs require 90% owner votes; enbloc of properties less than 10 yrs must get 100% owner's support...
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...Originally Posted by Unregistered
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 schemeOriginally Posted by Unregistered
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.Originally Posted by Unregistered
Government is looking into refining the enbloc laws.Originally Posted by Unregistered