no need french...its simply "i live at grange" i think. that's why i thought quite corny.
Originally Posted by cheerful
no need french...its simply "i live at grange" i think. that's why i thought quite corny.
Originally Posted by cheerful
S'pore economy expected to grow 9% this year: MAS survey
By Mok Fei Fei / Mustafa Shafawi | Posted: 09 June 2010 1201hrs
SINGAPORE : Private sector economists are even more bullish about Singapore's economic outlook, raising their full year 2010 growth forecasts for Singapore.
Those polled by the Monetary Authority of Singapore for its latest Survey of Professional Forecasters now expect the Singapore economy to grow by nine per cent this year.
This is an upgrade from their previous expectations for a 6.5 per cent growth made just three months ago in March.
The nine per cent forecast is at the upper end of the government's official forecast for seven-to-nine per cent growth.
And for next year, economists expect growth to average 5.5 per cent.
Looking at the various sectors, economists also upgraded the likely growth of four of the five industries.
Double-digit expansion is expected for the manufacturing, construction and wholesale and retail trade sectors, though financial services is expected to grow as well.
The private economists say the manufacturing sector is now expected to expand by close to 17 per cent.
Construction will grow by 10 per cent and the financial services sector is expected to grow by nine per cent.
Singapore's non-oil domestic exports are expected to grow almost 18 per cent.
As for 2011, the private economists expect the economy to grow 5.5 per cent.
Manufacturing is predicted to drive growth, as economists forecast a 16.7 per cent on-year increase, up from the previous forecast of 9.7 per cent.
The only exception is the hotels and restaurants sector, where respondents cut their forecast from 8.5 per cent to 8.2 per cent.
For the second quarter this year, economists say growth may probably come in at 9.4 per cent on-year, higher than 6.3 per cent in the previous survey.
With higher growth, analysts also expect consumer prices to creep up.
Their median inflation forecast for the full year climbed marginally from 2.7 per cent to 2.8 per cent, with second quarter inflation expected at 3.2 per cent.
As for the labour market, the respondents expect the unemployment rate to be at 2 percent by the end of the year, unchanged from the previous survey.
19 respondents took part in the survey. - CNA/jy
i remember he said he's young, 20s i think and yes, humble guy.
Originally Posted by cheerful
Correction expected in Singapore's property market: industry players
By Wong Siew Ying | Posted: 09 June 2010 2329 hrs
SINGAPORE : Industry players have said Singapore's property market is in for a correction in coming months.
Tell-tale signs include a plateau in home prices and a drop in transaction volumes.
The Singapore Institute of Surveyors and Valuers said there were 899 caveats lodged for condominiums in the first three weeks of May.
This compares with 3,060 for the whole of April.
New condominium projects are still doing well. But property agents said home sales in the secondary or resale market have dropped by up to 20 per cent recently.
Dennis Wee Group said buyers are becoming more cautious, going by sales figures in May.
Chris Koh, director, Dennis Wee Properties, said: "Instead of seeing a 30 per cent increase in transactions as the month before, I only saw a marginal 3.5 per cent increase. A lot of buyers are pulling their handbrake, what they feel today is that the seller is asking for too high a price, and if I am not in a hurry, why not sit and wait."
Industry data from the Singapore Institute of Surveyors and Valuers showed sales falling across various districts as of mid-May.
The prime districts of 9, 10 and 11 recorded a 76 per cent drop, while the downtown city area saw the sharpest decline of 88 per cent.
Analysts also expect transaction volumes to fall by 5 to 10 per cent due to the upcoming World Cup season, which begins on June 11.
Meanwhile, ECG Property said it now takes longer to close a transaction. It was about 45 days before, but it takes up to 80 days now.
Industry players expect the market correction to last between three and six months, and some said home prices could trend down by 3 to 5 per cent on average during this period.
Eric Cheng, CEO, ECG Property, said: "Some of these prices are over book keeping value, whereby some banks may not even match some of the asking price today. That also shows that these prices could be a speculation price instead of a true reflection price. I think the market is going through a slight correction."
Analysts said prices may also be capped by more land supply due to be released by the government.
Other risk factors include volatile stock markets and the European debt crisis. - CNA/ms
Subsale for Double bay residence for d18 near simei going strong.
Originally Posted by augustLooks like I might just win the bet for May!!!Originally Posted by bargain hunter
Guesstimates on May sales:
Cheerful - 928
Bargain Hunter - 893
new2mondrian - 1050 (middle ground for 10xx)
oops... just realised that my 1050 is way too low.... 899 plus 180 (published figures for Minton alone) will be 1079 units already.
Minton launched on 27 May. By 30 May Sun 5pm, I stood in front of the "Units Sold" board and counted 192 units sold. So assuming there are no sales in the final week of May except for Minton (which is not possible given Flamingo Valley also sold some units that week), the final tally should be around 1200 units.
But since I committed to 1050 units, shall just let it be.
low sales vol is a blessing in disguise
those who shorted ppty aka sold their ppty may have to wait till neck very very long to buy back...or even buy back at a price higher den wat they sold.
as time goes by, ppl will start to accept 8xxpsf for OCR and 12-1800psf for RCR and so on...humans got very short memory
those who r hoping for a big crash will be disappointed....in the first place, u nid a big bubble for prices to crash...
i was tinking...i may not be able to smell 3bedder mbr anymore
as long as fundamentals are there, SGP property market will not crash, though there might be a correction of 10-15% should there be a prolonged European crisis which translates into lower real demand and GDP growth.Originally Posted by devilplate
there is too much liquidity in the system. at the end of the day, people who shorted on property hoping there will be a big crash will simply be benefitting the Govt (when they incur subsequent stamp duties when buying back the replacement invtm property, and at worst, subject themselves to capital gains tax) and of course the agents (who get to double/triple dip in pressuring them to sell the first property, then buy back the 2nd/3rd etc). After counting in the stamp duty (for replacement property) and agent fees, really the sum pocketed might not be material.
The above is simply for those who are selling off their investment properties and subsequently buying back replacements.... but of course if there are better ways to make money other than from properties, plse do also share okies?
the weakness in the next 3 to 4 months will be a good window of opportunity for those looking to buy..... but I doubt many will panic sell... so got to be fast!
if u study past historical PPI chart, u will realise ppty prices very rarely got any 'healthy' correction of 5-10%...only got period of consolidation(flattish market)...in stock terminology: meaning 'resting' period....i have seen many 'step' wise chart pattern for equities...not sure whether it will ever happen in physical ppty.
ppty prices r sentiment driven aka greed and fear...tats y we r more likely to experience boom and bust cycles....
one interesting project call trivoli grande in D15....i tink one of the few condos in still rd vicinity to have 38X5m lap pool?
1bedder indicated ard 1kpsf....seems ok
read your own highlighted words carefully, i think you got over excited. 1) the caveats lodged for 1st 3 weeks of May may not be transactions done in may (note these are CAVEATS). 2) the caveats are not for new sales. its for ALL property transactions: new, subsale, resale! probably transacted between apr and early may.
Originally Posted by new2mondrian
I don't know whether there are better ways to make money than from properties, but there is definitely no other more interesting way.Originally Posted by new2mondrian
Just looking at the photos posted here by members of the various stages of their condo development is a pleasure in itself.
There is no equivalent in other types of investments. Imagine focus posting: this is my corn field. What is there to see?
Or these are my gold bars ... boring.
Or that's my UOB shares.
Unless you hold majority shares in the company and are able to bring all of us here on a guided tour through the different floors of UOB plaza and ask the President to leave his room so that we can have coffee there, there is no point talking about shares in a company where you can't even get pass the security guard without having to explain why you are there in the first place.
stocks/shares not so bad la
they helped me to buy my first ppty leh
The Waterina in District 14 Geylang has a nëw hïgh of $1,023 psf!
The Waterina
Address ............................... psf ............... Area .......... Price ......... Contract Date
73 Lorong 40 Geylang #04-56 .... $1,023 psf .... 635 sqft ...... $650,000 .... 20 May 10
Going-6-year-old Park Green EC in District 19 Sengkang has hit a nëw hïgh of $615 psf!
Park Green
Address ......................... psf .............. Area .......... Price ........... Contract Date
10 Rivervale Link #08-17 ..... $615 psf ..... 1,496 sqft .... $920,000 ..... 18 May 10
Caspian in District 22 Jurong has finally cleared the $1,000-psf hurdle with a nëw hïgh of $1,054 psf!
Caspian
Address ............................ psf ................ Area .......... Price ........... Contract Date
54 Lakeside Drive #03-23 ...... $1,054 psf ..... 463 sqft ..... $488,000 ...... 18 May 10
Going-6-year-old Nuovo EC in District 20 Ang Mo Kio has a nëw hïgh of $698 psf!
When will this old EC clear the $700-psf hurdle?
Nuovo
Address ................................... psf ............ Area .......... Price ............ Contract Date
23 Ang Mo Kio Avenue 9 #07-08 .... $698 psf .... 1,550 sqft .... $1,082,000 .... 20 May 10
Price correction so fast? I thought have to wait long long If i know so fast price drop I would have waited But again, nobody can time the market
By the way I really love Jlrx posts, always so relevant and humorous! And condorich has really been away for too long
dividend also help to pay loanOriginally Posted by devilplate
buy buy buy d18
Infact got some insiders news that "Devilplate" is indeed "condorich" and he changed his nickname...........
i know u die hard fan of condorich.....
Originally Posted by ocoloco79
sry to dissapointOriginally Posted by tanumy
dun like the idea of being mistaken as sm1 else too
Please lah they are confirm 2 diff persons!Originally Posted by tanumy
Thats why property is called REAL estate - you can touch it.Originally Posted by jlrx
It's not just that. You can also touch gold, paintings etc.Originally Posted by mcmlxxvi
There is something else - you are physically smaller-sized than real estate, so you can walk into them (like focus walking into his new condo to take photos), and you can drive from one house to another.
There is this spatial feeling that you cannot get with other forms of investment.
Financial crisis? Where got?
Singapore's millionaire households grew by 35% - the biggest gain worldwide
Jo-ann Huang
Weekend TODAY
Saturday, 12 June 2010
Millionaire households here grew by the most worldwide last year despite the financial crisis wiping out personal wealth globally, said the latest study by consultancy firm Boston Consulting Group.
At 35%, Singapore millionaire households outpaced countries such as Malaysia, which grew by 33%; Slovakia, which grew by 32%; and China which grew by 31%.
Singapore also had the highest concentration of millionaires at 11.4% of the country's total number of households, said the study. Millionaires are defined as individuals with investable assets of more than US$1 million ($1.4 million), excluding property holdings and items such as art.
The Boston Consulting report did not name any Singapore millionaires, but according to the Forbes ranking of Singapore's 40 Richest people last year, the late property tycoon Ng Teng Fong, who had a net wealth of US$8 billion, was ranked first.
The Khoo family came in second with a net wealth of US$5.5 billion, according to Forbes, and Wilmar chief executive Kuok Khoon Hong was in third position with a net wealth of US$3.5 billion.
According to Boston Consulting, Hong Kong has the second highest concentration of millionaire households at 8.8% after Singapore. Switzerland, Kuwait, Qatar, United Arab Emirates and the United States also have the highest concentration of millionaires in the world.
The study also found that at 4.7 million, the United States had by far the most millionaire households in the world, followed by Japan, China, the United Kingdom, and Germany.
Global wealth increased 11.5% last year to US$111.5 trillion, just slightly under the 2007 peak, said the study.
North America posted the largest absolute increase in wealth of 15% at US$4.6 trillion.
The study concluded that the largest percentage gain and the second largest absolute gain in wealth came from Asia-Pacific excluding Japan, where wealth increased by 22% or US$3.1 trillion - nearly double the global gain.