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YA...has the same view, unless JE central is on now, then maybe such prices will work into it.
Last month I just went to see Lake Shore they offer me 12 flrs with pool view at $910,000 exclude stamp fee !!! I think really crazy at this price for 99 years !!!
Singapore property market generally looks weak iin the nest 18 months by CITI expert, says Mr don Hanna, CITI's global head of emerging markets economic and market analysis. Īn an open market like Singapore, in generalweaker property demand due to lowering of trade flow and lower income, but overall Asia is in better shape to ride out this down turn. Thank to our China, India and even Arab oil $$$.
Incidentally in BT, same day, Lehman angmos crying to invest in land and not commodities and placing hands on firms in agricultural infrastructures also good bets. Same page, under AGM Watch, Sembcorp had to deal with the past, but Keppel eying in future. Alamh AK small timer, no effect lah.
Further to this, developers sell about 8,000 units of homes a year. If their inventory of unsold ptr homes exceeds 17,000, it could indicate a supply glut, laso vacant homes rate has been rising steadily since the 2nd Q od 2007, when it was at a low of 4.9%, it hit 6.3% in the 1st Q. While the quarter was flat, there was naturelly some sales activity. Developers sold 762 new homes in the 1st Q and that was the smallest nos in 12 years.so in other word as more small developers will likely to cut prices of theirprojects to improve casg flow, the impact of their action may be lost on the market because of their size.
Big names and site including Marine Bay Suites, Ho Bee, Keppel Land, Cheung Kong, Hongkong Land, City Dev, Fripartite Developers, Sentosa Quayside, Nassim Park Residences, Wheellock Properties Far East Organation, holding it untill US Sub-Prime crises eases...siad one of it BBs
Property is set to cool alittle abit by bit over this coming quarter and next Q.
Straits Times (Sat) April 26, 2008. page S38 Back page head line (Money page)
Developers hold off launches in quiet market. The pool unsold, uncompleted pte flats that can be launched for immediate sale rose by more then 3000 inuts inthe 1st Q of this year. This bring unsold flats, such units to 10,239, a three years high, according to Urban Redevelopment Authority (URA) figures released., 4,824 units is in core central regional region, including districts 9, 10 and 11, areas with high-end properties - the very sort after facing lacklustre demand now. Thing is worst in the rest of central region where unlaunched units rose bt 77% to 2,934 in the 1st Q, 2008.
confirmed....the property market is cooling. HDB COV is also lower now....AMK 5 room (6-7 years old) is only asking for S$20K
Property market is cooling off. It is a good thing... we wouldn't want a property bubble to add to the current spate of economic problems.
Even in CNA news, it put up some encouraging sign for HDB prices, however read again it say Spore high-end property market not so good in coming day, esp 1 2 and 3 Q away for this year..
Yet another news appear today on Strait Times paper 8-4-2008. Money page H23 and H24.
It read fewer home loans taken up as property market cools further....page H23 and
Feeling the squeeze as prices of high-end condos starting to fall as sales dwindle...
For more info pls read the Straits Times paper. just sharing info for..refer heading post.
Just my guess oni hohh..., anyone buying...July is best, seller may not 1 2 sell.
Signs and symptoms of softening property market showing....
teeth53 ( Date: 06-Apr-2008 20:06) Posted:
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Yet another news appear on Tues April 8, 2008. Straits Times Paper on Money back page H20 (Buyers has all the time and option, while seller is a waiting it out)
Tulip Garden sale off ? forfeiting 25.8 mil or 5% deposit by developer Bravo Building Constrution. to 164 units owner, each may have pocketed more then $100,000 on average.
It is due to cash crunch and it partners have had trouble raising the necessary funds to offer en block deal worth $516 million, orginal sale, sold at $1,018 per sq ft (psf) more then its earlier guide price of $900/- per sq ft.
Given the slower market, more sellers are now open to lower prices. Royalville, a free holdland mixed development off Sixth Ave, was relaunched for sale en block at a lower indicative price of around $305 mil, it offer for sale in Nov 9 tender, which failed to attract bidders at its eariler guide price of $330mil to $350 milliom.
source from joyceteo@sph.com.sg
Just FYI: City View@BoonKeng, a housing project by pte developer for HDB.
The take up rate has been a major talking point Be'cos"the overwhelming response has not translated into actual sales, In all almost 520 units out of 714 have been sold. As for the remaining 190 odd units, the developer will decide how best to sell them. As it turned out, many successful applicants got cold feet, and there were excess given a chance to buy the flats they wanted..
The units cost for CityView units range from $349,000 (3 rm apt) to $727,000 (for 5 room apt).
Registration closed in Jan 2008 with 3,500 applicants applied.
PRICES Up 4.3 per cent quarter- on-quarter: Flash estimates show that residential prices rose 4.3 per cent q-o-q to an index level of 178 in Q108. This compares to the +6.8 per cent quarter-on-quarter recorded a quarter earlier and represents a y-o-y increase of +30.4 per cent. The index is now a mere 2 per cent from the all-time peak in Q296.
Momentum slows across regions: Prices of non-landed private residential properties increased in the quarter by 4.4 per cent quarter- on-quarter (vs 7.5 per cent in Q407) in Core Central Region, 3.9 per cent quarter-on-quarter (7.7 per cent) in Rest of Central Region and 4.8 per cent quarter-on-quarter (7 per cent) Outside Central Region.
Based on flash estimates, the HDB resale price index rose 3.4 per cent quarter-on-quarter to 125.8 points. The rate of increase has slowed from +5.7 per cent quarter- on-quarter in Q407 and +6.6 per cent quarter-on-quarter in Q307.
The index has recovered some 32 per cent from its trough in Q102 and is 8 per cent shy of the peak of 136.9 in Q496. The improvement in HDB resale prices should be supportive of the mass-market segment.
Mass market should continue to lead the pack: While transaction volumes have waned, active participation in the recent West Coast site suggests that developers are still positive on the mass market segment. Allgreen our preferred pick: While we remain cautious on the large cap property developers, we are positive on the mid-cap, particularly Allgreen, which is trading at below its book value of S$1.40.
Today Sun Straits Times paper April 6, 2008 (page 22-invest-property)
7 signs of a propety slowdown this year... on outlook for 2008 property.
Buyers seem to be gaining ground again in the private homes market but consultants say it's far from crashing yet.
1) Growth in home prices weakens
2) Launches are held
3) Collective sales have died down
4) Investor funds pull out or hold off
5) Sellers hand out discount galore
6) Agents less sought after, ads dwindle and
7) Buyers toss in low dibs to test the waters
However those sitting in Jurong east area, on a make over, will within 10 -15 years is sitting on gold land
Who is next...is just one of those thing.....happening to REIT.
Moody's Review..Capitacommercial Trust (CCT). CCT's ratings may face a possible downgrading...
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Mar 27 2008 |
MISCELLANEOUS :: NEWS RELEASE : CCT OBTAINS CALL OPTION TO BUY 1 GEORGE STREET FOR S$1.165 BILLION |
hee...READY to short the mkt tomor ?!?! KEPLAND,CITYDEV,SP LAND,UOL ?!??! hee...
hmm...but pre-DJ now is 236+ wow!!
cheers !
Tks for those who supported Kepland.
Anyone read ? (Sun) ST paper, page 24 (invest-property)
It mentioned Muted market gives buyers more bargaining power
Prices aren't tumbling, but it's a good time to get a unit at a reasonable price, say experts.
Mean while Property correspondent Joyce Teo say. It is no secret that the residential property market is in a lacklustre mood.