double bay located at simei going strong in sub sale market
Newbie
double bay located at simei going strong in sub sale market
Newbie
u are really a nuisance!!Originally Posted by tanumy
I will definitely not buy DB because of YOU!!
Junior
idiot is shouting again
Newbie
haha
Newbie
Rumour that new launch for single bay residences coming up....
东方
Triple Bay nicer.
Junior
Executive condo more popular due to rising private condo prices
By Sharon See & Lip Kwok Wai | Posted: 12 April 2010 2336 hrs
SINGAPORE: Real estate agents say executive condominiums (ECs) have become more popular.
They are the next best thing for those who are priced out of the private condominium market, where prices have been hitting new highs recently.
Property agents said that in the last two to three years, the price of each square foot has increased by about 70 per cent.
In the first quarter of this year, the resale value of each square foot reached about S$570.
According to senior group district director of PropNex David Poh, the price used to be around S$300 to S$400 per square foot more than three years ago.
This puts the price per square foot of ECs about 15 per cent cheaper than that of private condominiums.
For new ECs, the price is about 25 per cent lower than that of new private condominiums.
Real estate agents said the prices of ECs have not peaked.
Two ECs in Sengkang and Yishun were launched in January. A second EC is set to be launched in Sengkang this week.
- CNA/yb
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F01 N54 Sheer Driving Pleasure
Err ... Armstrong is "Looking Behind the Curtain".
F01 N54 Sheer Driving Pleasure
China real estate bazaar drowns out government warnings
Chris Buckley
Reuters
Beijing, China
Monday, 12 April 2010, 11.45 pm CCT
Standing in the shouting tumult of a Chinese real estate fair, Chen Shiyong said, feels like watching a suicidal man on top of a building ignoring the pleas of bystanders to pull back from the edge.
Not that many of the some 142,000 potential buyers and curious visitors who crowded into Beijing's latest big housing property sales fair over the weekend were buying Chen's warning of the impending collapse of a price bubble.
Many said commercial housing prices in the Chinese capital and other cities were sure to keep rising, perhaps after a brief dip, shrugging off government efforts to cool the market. The disheartened said prices already well beyond their grasp were unlikely to come down.
"Nobody is listening to the government leaders. There's this mentality that has set in that this is a no-loss market," Chen said, nodding at the crowds around miniature building displays in Beijing's China World Trade Center.
"It's like watching a suicidal man who won't listen to anyone. Whatever you tell him, it simply strengthens his notion that he's right and the rest are wrong," said Chen, a twenty-something investment analyst for Changjiang Securities, wearing thick glasses and a leather jacket.
The Chinese government shares some of his jitters.
Over the weekend, the top bank regulator, Liu Mingkang, said the country's banks must do more to rein in risky lending to land developers.
The average selling price of properties of seven major developers in mainland China increased from 8,069 yuan (US$1,182) per square meter in November last year to 10,810 yuan in March, Royal Bank of Scotland said in a report issued on Monday.
Some land plots in downtown Beijing recently fetched record prices, bought up by state-owned companies with core businesses nothing to do with real estate.
But for every naysayer at the fair, there seemed to be dozens of potential buyers who could give several reasons backing their belief that China's property market is unlikely to slow much, especially in the big cities.
What optimists, pessimists and rattled would-be home-buyers at the real estate fair generally shared was a belief that the central government lacked either the tools or the will to tame home price growth dramatically.
As Beijing tries to cool the market, that widespread assumption of government impotence could itself become a problem.
"I think prices will keep growing. The government can act if it really wants to. But does it have the guts?" said Wang Jun, an engineer attending the fair.
"Doing that will hurt a lot of interests, including local governments that need land revenue."
He said he earned about 70,000 yuan a year, about as much as it costs to buy 2 sqm of a new apartment somewhere close to central Beijing.
"If prices keep rising like they have, then ordinary residents won't be able afford anything, and even middle-class people will be squeezed out, and that could be dangerous," said Wang.
Enough Bullets?
Liu, the bank chief, said the government had "enough bullets" to ward off risks from property fever, but small-time investors such as Zhang Xixiong have so far proven to be wily prey.
Zhang was working his way around the display booths at the Beijing fair, searching for another apartment to buy, on top of the three he said he already owned.
The government's efforts to tighten credit and mortgage requirements for non-owner-occupiers have not bitten deeply so far, said Zhang. He brushed aside the latest warnings about an over-heated market.
"In the end, the demand is still there. I don't think government controls can play that much of a role," said Zhang, a middle-aged man.
Urbanization, the home-buying aspirations of the nation's young middle class, and the sheer amount of untethered wealth sloshing around the country would keep pushing up housing demand and prices in Beijing and other big cities, he said.
"I'm looking to sell one of my places, and I get serious calls about it at all hours, even after midnight," said Zhang.
This year's spring real estate affair at the Beijing World Trade Center sold property worth 2.9 billion yuan, the Beijing Youth Daily reported on Monday.
That was a dip on last year, when the organizers reported sales worth 3.2 billion yuan. Crowds were also down this year, the paper said.
Chen, the investment analyst and a self-described regular at the fair, said numbers were partly down because more properties were being advertised and traded online.
There were still plenty of prospective buyers: impending retirees looking to move to quiet suburban homes; young couples looking to buy their first home; small investors hunting for bargains, sometimes in small Chinese cities or foreign markets exhibiting at the fair.
There were also plenty of ordinary residents who wandered around and wondered if they could ever afford a new home.
"At these prices, I'd spend my whole life paying off the home even if I found a well-paid job," said Zhang Menqian, a recent university graduate who, struggling to find work in Beijing, had taken a job handing out promotional leaflets at the fair.
Chen, the investment analyst, said he had come to the fair hoping to persuade investors to buy instead into the stock market, which he said was a surer way to profits.
"I warn them to switch, but they're not listening to me," he said. "They'll be unhappy people soon."
Junior
I like four-bay (Foreplay) better
Twin Peaks will do to... and Mount Venus lagi bagus.
Newbie
still double bay is nicer....
I like four-bay (Foreplay) better
Twin Peaks will do to... and Mount Venus lagi bagus.
F01 N54 Sheer Driving Pleasure
Rivergate in District 9 has moved again!
Senior
pity i missed the rivergate train.
F01 N54 Sheer Driving Pleasure
District-14 Geylang is moving too!
Junior
Singapore's GDP expands strongly by 13.1% on-year in first quarter
Posted: 14 April 2010 0805 hrs
SINGAPORE: Singapore's GDP expanded strongly by 13.1 percent on a year-on-year basis in the first quarter of 2010.
It grew by 32.1 percent on a seasonally-adjusted quarter-on-quarter annualised basis.
In advance estimates released on Wednesday, the Ministry of Trade and Industry (MTI) said it expects the Singapore economy to grow by 7.0 to 9.0 percent in 2010.
Growth was led by the manufacturing sector. The sector expanded by 139 percent in the first quarter of 2010, compared to a contraction of 29.0 percent in the fourth quarter last year.
This is attributed to a robust expansion of electronics production and a stronger-than-expected surge in biomedical manufacturing output.
The construction sector grew by 11.3 percent on a year-on-year basis in the first quarter of 2010, supported by sustained public sector civil engineering activities and an increase in the number of residential construction projects. - CNA/de
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F01 N54 Sheer Driving Pleasure
Err ... 7% to 9% GDP growth in 2010? Why not 10%? It's only 1% away! ... just kiddin' ...
F01 N54 Sheer Driving Pleasure
GDP soars 32% in first quarter
The Edge
Wednesday, 14 April 2010, 8.32 am
Singapore says its economy soared in the first 3 months of 2010 as manufacturing more than doubled, reported AP.
The Trade and Industry Ministry said today that gross domestic product grew an annualised, seasonally adjusted 32.1% in the first quarter, bouncing back from a 2.8% drop in the fourth quarter of 2009.
The ministry says the economy grew 13.1% in the first quarter from the same period a year ago. The ministry says it raised its 2010 GDP forecast to between 7% and 9%.
The central bank says today that it shifted its exchange rate policy from a 0% appreciation to a “modest and gradual” appreciation in a bid to dampen inflation pressure.
Newbie
joker.. no wonder your house hunting did not yield any success. You are looking at the wrong things. hahaI like four-bay (Foreplay) better
Twin Peaks will do to... and Mount Venus lagi bagus.
F01 N54 Sheer Driving Pleasure
Perhaps the appreciating SGD will lure more into parking their money in properties here.
GDP soars 32% in first quarter
The Edge
Wednesday, 14 April 2010, 8.32 am
Singapore says its economy soared in the first 3 months of 2010 as manufacturing more than doubled, reported AP.
The Trade and Industry Ministry said today that gross domestic product grew an annualised, seasonally adjusted 32.1% in the first quarter, bouncing back from a 2.8% drop in the fourth quarter of 2009.
The ministry says the economy grew 13.1% in the first quarter from the same period a year ago. The ministry says it raised its 2010 GDP forecast to between 7% and 9%.
The central bank says today that it shifted its exchange rate policy from a 0% appreciation to a “modest and gradual” appreciation in a bid to dampen inflation pressure.
F01 N54 Sheer Driving Pleasure
Construction costs could rise faster: DLS
Rise in foreign workers' levy, commodity prices among factors that may raise costs
Arthur Sim
The Business Times
Wednesday, 14 April 2010
Construction costs could rise this year more than the 3-5% forecast because of a combination of new factors, says quantity surveyor Davis Langdon & Seah (DLS).
In a report released yesterday, DLS says factors such as the increase in the foreign workers’ levy and reduction in man-year entitlement, announced in March, could add between one and 2% to construction costs.
New iron ore pricing that has become apparent this month is likely to push up the price of steel, which could add another 1.5-2% to constructions costs.
DLS forecast in January that construction costs could rise 3-5%. It expected construction tender prices to remain stable in the first 2 quarters of 2010 and start to rise in the second half.
It has since found that while construction costs remained relatively stable in the early part of Q1, they started to increase towards the end of March.
For instance, the price of steel reinforcement bars, which fell to about $750 a tonne at end-2009, had risen to about $900 a tonne in March. And now iron ore prices have surged again, and the price has gone up to $950-$1,000 so far.
DLS said just how much further the price will climb – and whether it will surpass the $1,744 a tonne peak in July 2008 – is uncertain at this stage.
Based on the current price of $950 a tonne, the cost impact works out to an increase of 0.8-1.2% for a typical residential development tendered in late 2009-early 2010, DLS said.
Apart from the price of steel, DLS says the uptrend in commodity prices in general will lift construction costs faster than expected.
While commodity prices are recovering from a low base, the price of copper hit US$7,880 a tonne this month and is edging closer to the recent peak of US$8,700 per tonne in April 2008. Copper is also up 150 per cent from its trough price of about US$3,000 a tonne in December 2008.
The price of aluminium has increased about 65 per cent to US$2,205 a tonne, from the trough price of US$1,329 in February 2009.
DLS estimates that commodity prices in general could add 1.5-2% to construction costs.
Looking at rising oil prices, DLS says these could raise plant and machinery costs and add 0.5 to one per cent to construction costs.
A new policy measure that will affect costs are restrictions on construction activity on Sundays or public holidays for construction sites within 150 metres of residential and noise-sensitive areas. This could add 0.5% to construction costs, says DLS.
Based on all of these factors, DLS now expects construction cost to rise more than 5% this year, ‘the actual level depending on the prevailing tendering climate’.
Senior
http://online.wsj.com/article/SB10001424052702303695604575182022093645864.html?mod=WSJ_Deals_MIDDLETopNews
morgan stanley property funds faces 5.4 bio loss
Junior
Geylang huat ah! Looks like the government's weekly raids are bearing fruitsBut I still like the old "messy" Geylang - so full of character.
Newbie
Surprisingly, the money they invested in Sg worker's doms is the best performing
Senior
i posted the link ... hoping REPORTER can vet it and post online for all to read...
hope he can do it .. so we dont just read GOOD news but also a share of BAD news ... otherwise it becomes selective broadcasting ... Class 95 ..only want to hear good stuff ..
F01 N54 Sheer Driving Pleasure
If you have news to share, just post it yourself.
I have read it and found this piece of history uninteresting. Perhaps news like "so and so has lost $x million from property investment in Rivergate during the crisis" may be more interesting.
Anyway, I am searching for news that will give us some guidance on our way forward.
Since you have more time, why don't you post some of these histories here? Morgan Stanley making huge loss due to the crisis may be just one of them. How about local investors making huge losses due to the crisis?
F01 N54 Sheer Driving Pleasure
Another hďgh from District 22.
Caspian's $964 psf looks better than The-Centris's $931 psf.
Big is Wonderful.
Picture this...
GDP up -> Incomes up -> Affordability index up -> property demand up -> property prices up.
GDP up -> biz investments and FDIs up -> foreign talents and PRs up -> rentals up -> property prices up.
GDP up -> biz outlook and consumers confidence up -> property demand up -> developers' demand for land up -> land prices, enbloc and GLS bid prices up -> property prices up.
The reverse happens, too.
Economics 101.... Ride the wave while it lasts.
GDP soars 32% in first quarter
The Edge
Wednesday, 14 April 2010, 8.32 am
Singapore says its economy soared in the first 3 months of 2010 as manufacturing more than doubled, reported AP.
The Trade and Industry Ministry said today that gross domestic product grew an annualised, seasonally adjusted 32.1% in the first quarter, bouncing back from a 2.8% drop in the fourth quarter of 2009.
The ministry says the economy grew 13.1% in the first quarter from the same period a year ago. The ministry says it raised its 2010 GDP forecast to between 7% and 9%.
The central bank says today that it shifted its exchange rate policy from a 0% appreciation to a “modest and gradual” appreciation in a bid to dampen inflation pressure.
Junior
Exceptionally strong growth ahead for Singapore, and stronger dollar
Posted: 14 April 2010 0846hrs
Singapore: Exceptionally strong growth was seen in the first quarter of 2010 and the Trade and Industry Ministry (MTI) says it now expects Singapore's economy to grow by 7.0 to 9.0% during the current year.
The revision upwards from an earlier 4.5-6.5% GDP growth is in view of the "exceptionally strong growth for the Singapore economy" in the first quarter and the overall improved outlook for external economies for the rest of 2010, MTI said in its news release on Wednesday.
In view of the rebound of the Singapore economy and expected firm recovery with a more favourable global economic outlook the MAS will re-centre the exchange rate policy band for the Singapore dollar at the prevailing level and shift the policy band from zero percent appreciation to a modest and gradual appreciation.
The decision to allow for a stronger dollar was influenced by the tightening of the labour market with the seasonally adjusted resident unemployment rate falling from 5% in September 2009 to around its pre-crisis rate of 3% in December, and
an expected pick-up of wages this year.
Overall, Singapore should see inflation in 2010 at between 2.5% and 3.5%, which is slightly higher than the 2-3% forecast earlier.
Experts say the move to move by MAS indicates that the view that domestic inflation is the concern now that economic growth has settled in.
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Junior
MAS makes room for stronger Singapore dollar
Posted: 14 April 2010 1009hrs
Singapore: The Monetary Authority of Singapore (MAS) will re-centre the exchange rate policy band of the Singapore dollar at the prevailing level and shift the policy band from zero percent appreciation to one of modest and gradual appreciation.
In a news release Wednesday, the MAS which acts as a central bank noted that the Singapore economy has rebounded with expectations to continue on a firm recovery path given the more favourable global economic outlook.
At the same time, inflationary pressures are likely to pick up, driven by rising global commodity prices as well as some domestic cost factors.
"Overall CPI inflation in 2010 is projected to be between 2.5% and 3.5%, slightly higher than the 2-3% forecast earlier" said the MAS.
While taking the move to tighten monetary policy, making room for a stronger Singapore dollar, the MAS added that it "will continue to be vigilant over developments in the external environment and their impact on the domestic economy, and stands ready to curb excessive volatility".
Economists who had expected the MAS to make its move only after Wednesday's release of growth numbers by the Trade and Industry Ministry noted that concerns now are focussed on domestic inflation.
While some called the action "aggressive", others concluded that the MAS had "no choice" given the strong rebound of the Singapore economy
Singapore's DBS Bank noted in a review "the lower limit of our policy band (currently at 1.3820) has now become its mid-point of the new band, where we think it will hover around based on the authority’s comment to smooth volatility."
Credit Agricole Corporate and Investment Bank describing the MAS move as expected and pre-emptive said the policy change which is SGD-supportive over the short and medium term, should see a 1% appreciation during the next six months, which is unlikely to hit exports badly, provided there is no double dip.
Following the MAS announcement, the Singapore dollar strengthened to 1.3794/98 against the U.S. dollar.
So far this year, the Singapore dollar has gained 1.8 percent.
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Junior
Investor sentiment in Singapore at all-time high
By Ephraim Seow | Posted: 14 April 2010 1458hrs
SINGAPORE: Investor sentiment in Singapore hit an all-time high in the first quarter this year. This was driven by strong "growth optimism" and confidence in the local economy.
That's according to Dutch financial services group ING's latest investor dashboard survey.
The Singapore Investor Sentiment Index hit an all-time high of 151 points in the first quarter this year, up from 150 the previous quarter.
The survey said the strong sentiment is due to expectations that the global recovery will help spur exports and economic growth.
But there are growing concerns over inflation and interest rate hikes here.
Of the local investors surveyed, 59 per cent said they will invest more and/or re-allocate portfolios to hedge against inflation.
Equities and property are their top choices for beating inflation and for taking advantage of rising interest rates.
Singapore investors also see upside in the stock and property markets in the second quarter this year.
Some 58 per cent and 70 per cent of investors surveyed expect the stock and property markets to rise respectively.
However, they are cautious about the US outlook this quarter and remain risk averse on the US market.
Meanwhile, Singapore investor sentiment is the third highest in Asia after India and China.
Investors in China and India have the strongest sentiment as strong domestic consumption continue to drive their economies.
ING's quarterly poll surveys individuals from 12 Asia Pacific markets who are at least 30 years old and have a minimum of US$100,000 in disposable assets. - CNA/vm
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