Private property prices... Up or Down?

[Mercs]

Wheelock previous extremely capable CEO David Lawrence used to look at Neptune ct enbloc closely before he passed away in early 2012. Logically the company now has the balance sheet strength to take on enbloc project with over $2b GDV.

 

Unfortunately their poorly executed panorama was too painful and make current management highly risk averse, while the grand plan to redevelop forum, Hilton n four seasons hotels together with hotel properties have been hanging in the air given the current gloomy retail and hotel property outlook.

For the property sector, they seem to be still doing relatively well despite the slowdown.

Another 600mil coming, in a good position for future acquisitions.

Retail and hotel side I dun care, only thing that will interest me is ... got durian drop?

 

[Mercs]

http://www.businesstimes.com.sg/real-estate/white-house-park-gcb-sells-for-s255m-or-s1686-psf-based-on-15125-sq-ft-land-area

White House Park GCB sells for S$25.5m or S$1,686 psf based on 15,125 sq ft land area

Dec 3, 2016

 

Separately, an option to buy an Ewart Park GCB for S$19.35m is granted

 

TWO freehold Good Class Bungalow (GCB) transactions in District 10 are in motion - one on White House Park near the Botanic Gardens and the other tucked away on Ewart Park off Holland Road.

 

The bungalow on White House Park is being sold at S$25.5 million, which translates to S$1,686 per square foot based on the land area of 15,125 square feet.

 

The buyer of the White House Park property is a Singaporean who is understood to be involved in the engineering and building construction businesses.

 

The sellers are Rodney Tan Boon Kian and Poh Ban Leng. Mr Tan and his family have a stake in Treasure Resort Pte Ltd, which owns the Le Meridien Singapore, Sentosa.

 

Over at Ewart Park, an option has been granted for the purchase of a GCB at S$19.35 million or S$1,284 psf based on the land area of 15,069 sq ft.

 

The prospective buyer is understood to be Singaporean Sandra Elnitiarta Kurniawan.

[Mercs]

One foreigner's loss ... a Singaporean's gain?

 

http://www.theedgeproperty.com.sg/content/18-mil-loss-orchard-scotts

1.8 mil loss at Orchard Scotts

December 3, 2016

 

On Nov 15, $1.8 million went down the drain for the Indonesian seller of a 1,647 sq ft condominium at Orchard Scotts. He sold the unit at $1,427 psf to a Singaporean buyer after purchasing it at $2,540 psf in January 2012. This translates into a 44% loss for the seller, or 9% annualised loss over a holding period just shy of five years. However, as the Singapore dollar has appreciated against the Indonesian rupiah over the same period, the seller could have sustained a smaller loss of 25% in IDR terms, or $782,692 in SGD terms, after accounting for the exchange rate.

[Mercs]

Amazing condo prices- $390 psf in 2004, $406 psf in 1999, $488 psf in 2009.

 

Landed super huat-

$381 psf in 2007, sold at $1,170 psf, $11.4 million profit.

$402 psf in 2005, sale at $1,066 psf, $12.9 million profit.

 

 

http://www.theedgeproperty.com.sg/content/18-mil-loss-orchard-scotts

Dec 3, 2016

 

The largest profit of $1.3 million for the week in the non-landed segment accrued to a 2,325 sq ft unit at Varsity Park Condominium. It was bought at $390 psf in October 2004 and sold at $963 psf on Nov 18, resulting in a 147% profit.

 

District 15 is also home to the second and third most profitable deals in the non-landed segment. The bigger profit of $1.02 million accrued to a 1,302 sq ft unit at The Belvedere. It was bought at $817 psf in June 2005 and sold at $1,597 psf on Nov 21.

 

The smaller profit of $985,000 accrued to a 2,131 sq ft unit at Katong Park Towers. The seller had bought it at $406 psf in November 1999 and sold it at $868 psf on Nov 16.

 

A 2,088 sq ft unit at Pebble Bay and a 2,153 sq ft unit at Malvern Springs, both located in District 15, also made it to the list of the 10 mostprofitable deals in the non-landed segment. The Pebble Bay unit made a $900,000 profit for the seller, who bought it at $886 psf in May 2000 and sold it at $1,317 psf on Nov 18.

 

The seller at Malvern Springs enjoyed a $700,000 profit from the sale of his unit at $813 psf on Nov 17, after buying it for $488 psf in July 2009.

 

In the landed segment-

 

A detached house on Branksome Road in District 15 fetched an $11.4 million profit on Nov 21. The seller had paid $381 psf on land in June 2007 and sold it at $1,170 psf

 

The largest profit in the landed segment for the week accrued to a detached house on Third Avenue. The seller pocketed $12.9 million in profit from the Nov 16 sale at $1,066 psf, after buying the property at $402 psf on land in December 2005.

[therock]

http://m.todayonline.com/voices/fall-property-prices-not-enough-justify-buying-decision

 

Prices have not cooled enough?

[Wt_know]

still got 50% drop to go ... many waiting for durians to drop

even from 2009 to 2016 justify 30% price up due to economy growth or whatever reason

still got 20% to go ... LOL

 

http://m.todayonline.com/voices/fall-property-prices-not-enough-justify-buying-decision

Prices have not cooled enough?

 

[Showster]

http://m.todayonline.com/voices/fall-property-prices-not-enough-justify-buying-decision

 

Prices have not cooled enough?

Why did prices move this way after 2010? What changed exactly at 2010? If one researches deeper, the answers and future directions will become more apparent.

[Wt_know]

ah gong open door unreservely and engineer an undersupply properties unknowingly

3 years mistake need 9 years to fix?

Edited December 5, 2016 by Wt_know

[Showster]

ah gong open door unreservely and engineer an undersupply properties unknowingly

3 years mistake need 9 years to fix?

Wrong answer. Gates even more open in 08 and 09. In fact, from 1990 levels have always been higher.

 

https://en.m.wikipedia.org/wiki/Immigration_to_Singapore

Edited December 5, 2016 by Showster

[Wt_know]

Wrong answer. Gates even more open in 08 and 09. In fact, from 1990 levels have always been higher.

 

https://en.m.wikipedia.org/wiki/Immigration_to_Singapore

you mean gates open in 2008 & 2009 has no effect on 2010 onwards? Edited December 5, 2016 by Wt_know

[Showster]

you mean gates open in 2008 & 2009 has no effect on 2010 onwards?

Gates open through 97 / 98 could not stop drop in prices.

 

2009 was anomaly year due to Subprime in US. 2008 and 2010 levels more indicative of long term trends.

[Newbie26]

There will never be a specific % drop in prices that will satisfy everyone

 

even if it drops 20%, many will wait for it to drop further 

 

buying properties not as simple as waiting for prices to sui sui drop to the percentage we want and we are the only one to pick it up

 

 

 

 

 

 

http://m.todayonline.com/voices/fall-property-prices-not-enough-justify-buying-decision

Prices have not cooled enough?

 

[SuPerBoRed]

There will never be a specific % drop in prices that will satisfy everyone

 

even if it drops 20%, many will wait for it to drop further 

 

buying properties not as simple as waiting for prices to sui sui drop to the percentage we want and we are the only one to pick it up

 

ha.. and also about the pace of the drop...   extreme eg...  overnite drop 20%.. you dare buy even if its under your target price?

[BanCoe]

There will never be a specific % drop in prices that will satisfy everyone

 

even if it drops 20%, many will wait for it to drop further 

 

buying properties not as simple as waiting for prices to sui sui drop to the percentage we want and we are the only one to pick it up

 

these days in of uncertain market or call it even disruptive property market; anything goes

 

I remember in my younger days (well about 15 years back) Property Agents will chide me saying why you worry about low rental; look at the appreciation in the price; I guess trends will always be there;

 

Now prices have come down its still faced with uncertainity; The whole world is going bonkers and seems singapore is not relevant anymore to our neighbours too becos of ABSD

 

But if its for your 1st home buying and own self staying than ..... Just Buy It! (provided you have done your numbers well as in payment loan period ....etc)    

[Mercs]

http://www.businesstimes.com.sg/real-estate/phoenix-property-investors-keen-on-boosting-investments-in-se-asia-and-singapore

Phoenix Property Investors keen on boosting investments in SE Asia and Singapore

Dec 5, 2016

 

Phoenix's co-founder, managing partner and chief investment officer, Samuel Chu, said: "We are very bullish on the long-term potential of South-east Asia's real estate markets and will be raising our portfolio allocation to the region. Most countries in South-east Asia are bucking the ageing demographic trend as well as rapidly growing its middle-class population, both of which bode well for the property sector."

 

He added that Phoenix is keen to invest further in Singapore, targeting high-end residential and prime office assets here as it believes the bottom is near for these two segments and quality assets obtained at a reasonable value will do well when the market picks up in the medium term.

[Mercs]

http://news.asiaone.com/news/business/foreign-investments-spore-property-nine-year-high

Foreign investments in S'pore property at nine-year high

Dec 4, 2016

 

The data from property consultancy CBRE, which records investment deals over $10 million in value, shows foreign expenditure at $8.85 billion, accounting for 41.7 per cent of total property spending so far this year. That was up by 62 per cent from foreign investment sales of about $5.46 billion last year, CBRE told The Sunday Times.

 

It was also markedly higher than the foreign investment volume of $4.67 billion in 2014.

 

The office sector drew the most interest - 76.5 per cent or about $6.77 billion of the foreign capital spent so far in 2016, noted CBRE.

 

"Over the next three, four years, there's... very little new office space being completed... The more forward-looking investors are looking at that period of little supply, which will then result in rental growth," said Mr Jeremy Lake, executive director for investment properties at CBRE Singapore.

 

Real estate consultancy Edmund Tie & Company said investors typically look towards 2020, when the market is projected to pick up.

 

Malaysian developer IOI Properties Group's unit, Wealthy Link, smashed public land sales tender records with its $2.57 billion bid last month for a white site in Central Boulevard, also in Marina Bay.

 

Foreign investors have also been active in the residential sector, notably Chinese developer Qingjian Realty's $638 million purchase of Shunfu Ville via a collective sale in May. It also won the tender for a mixed development site in Bukit Batok West for $301 million in the same month.

 

Consultancy JLL noted that slower economic growth and efforts to cool the property market have weighed on the real estate sector in recent years.

 

"During this period, other major markets across Asia have experienced a strong market upturn, making Singapore an increasingly attractive investment proposition on a relative basis," said Mr Greg Hyland, head of capital markets, Singapore at JLL.

[therock]

IMO

A place is firstly meant as an abode.

As an investment tool, the new condo selling prices don't make them very attractive for this.

Anyone buying them for such purposes should do their maths properly.

[antelop]

http://m.todayonline.com/voices/fall-property-prices-not-enough-justify-buying-decision

 

Prices have not cooled enough?

This author remained sanguine on the property market outlook in January 2013 when prices were at the peak. Now he has turned super bearish. A typical signal of market bottoming when the last bull turns bear?