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#10161

Posted 12 March 2017 - 10:10 PM

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http://www.theedgepr...prime-districts
Return of big-ticket deals in prime districts
March 12, 2017

The biggest transaction of a private condominium unit in the last week of February was the sale of a 7,868 sq ft, five-bedroom penthouse at Corals at Keppel Bay for $18.88 million ($2,400 psf), according to a caveat lodged on Feb 22. The penthouse is the largest of eight in the 366-unit luxury condo by Keppel Land.

At the neighbouring 969-unit Caribbean at Keppel Bay, also by Keppel Land, a 4,650 sq ft penthouse changed hands for $3.80 million ($817 psf) on Feb 27. The seller bought the unit for $2.86 million ($615 psf) in January 2006, thus the sale translated into a capital gain of $940,880.

In prime District 10, freehold 381-unit Leedon Residence by GuocoLand has also seen a spike in transactions of bigger units. Notably, a 4,704 sq ft, five-bedroom unit was sold for $10.15 million ($2,158 psf). Meanwhile, two four-bedroom units were also sold recently: A 2,508 sq ft unit fetched $5.17 million ($2,061 psf) and a 3,681 sq ft unit, $6.1 million ($1,657 psf).

A unit at Nassim Mansion changed hands recently for $8.18 million ($2,353 psf).

District 10 is One Chatsworth, a 3,305 sq ft, five-bedroom unit on the second floor of the tower changed hands recently for $6.3 million ($1,906 psf), according to a caveat lodged on Feb 27.
At One Chatsworth, the last transaction was the sale of a 3,305 sq ft, five-bedroom unit on the 16th floor that fetched $6 million ($1,816 psf) in April 2015.

In prime District 9, a large four-bedroom unit at the 31-year-old Yong An Park on River Valley Road was recently sold. The 3,229 sq ft unit on the 18th floor of one of the five blocks changed hands for $5.6 million ($1,734 psf).

Bruce Lye, managing partner at real estate agency SRI, has observed an increase in the number of potential buyers looking for units priced above $5 million. “These buyers are a mix of Singaporeans and new permanent residents who are predominantly Chinese or Malaysian nationals,”

At the 28-storey Newton One, a 1,916 sq ft, four-bedroom unit on the 25th floor fetched $3.05 million ($1,592 psf).

At SkyEleven, a 2,713 sq ft, four-bedroom unit on the 27th floor of one of the 43-storey towers was sold for $4 million ($1,475 psf).


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#10162

Posted 12 March 2017 - 10:15 PM

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http://www.theedgepr...fidence-returns
Investor confidence returns
March 12, 2017

The first residential project to be launched in 2017 was the 505-unit The Clement Canopy, a 50:50 joint venture between UOL Group and Singapore Land. About 200 out of the 250 units released were sold on the launch weekend of Feb 25 and 26. The 99-year leasehold project located on Clementi Avenue 1 was priced in the range of $1,330 psf to $1,360 psf.

The weekend of March 4 and 5 saw the launch of the 720-unit Grandeur Park Residences adjacent to the Tanah Merah MRT station in the east. Developer Chip Eng Seng Corp chalked up sales of 420 units at an average price of $1,350 psf that weekend.

Last year, new-home sales rang in at 7,972 units, up 7.2% y-o-y.
“The positive response from buyers at Clement Canopy and Grandeur Park Residences indicates that sentiment has remained upbeat and there is a good chance that new-home sales in 2017 will be higher than in 2016.”


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#10163

Posted 12 March 2017 - 10:20 PM

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http://www.straitsti...t-at-show-flats
Positive sentiment at show-flats after change in seller's stamp duty rules
Mar 12, 2017

Visitors to show-flats yesterday were upbeat after the change in seller's stamp duty (SSD) rules announced by the Government on Friday, saying that it gave them more of an incentive to invest.

Consultant Debbie Lam, 31, said she has been looking over the past six months at investing in a property and said that the change in rules gives her more peace of mind. "I feel more assured now as I have more flexibility to sell earlier if I want to,"

She was at the show-flat of Australian developer LendLease's Park Place Residences at Paya Lebar Quarter, which opened for preview yesterday. The show-flat was crowded with property investors and first-time buyers, as Paya Lebar Quarter has been touted as an up-and-coming regional hub.

Mr Mark Goh, 40, a manager in the construction industry who was also at the show-flat, said the changes had partly prompted him to turn up for the preview.

"The change in SSD is better for investors and will definitely motivate more people to buy, as there are fewer restrictions,"

Mr Goh, who has several investment properties, said earlier he would have preferred selling only after four years to avoid paying the SSD but was pleased that he has now the option to sell earlier.


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#10164

Posted 12 March 2017 - 10:29 PM

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SRX valuation gives the impression that it is heavily dependent on the last sale, so if there has been a desperate sale or decoupling or internal family sale with way below market price, then good luck to the valuation when your unit is on the market.

 

So their valuations can be yo-yo if consecutive transactions prices swing wildly

 

The Edge valuation appears to take into account similar transactions in past 1 year or so.

 

Bank valuation depends on whether for buyers or sellers 

 

All these are just guides based on paper,  actual valuation will require on site inspection and detailed evaluation.

 

 

 

 

 

Thanks for the tips for sellers.

I found the price valuated accurate, but feel that it is in the banks interest to value at higher price so the loan amount is higher? Banks also have their interests to defend.

 


SRX valuation gives the impression that it is heavily dependent on the last sale, so if there has been a desperate sale or decoupling or internal family sale with way below market price, then good luck to the valuation when your unit is on the market.

 

So their valuations can be yo-yo if consecutive transactions prices swing wildly

 

The Edge valuation appears to take into account similar transactions in past 1 year or so.

 

Bank valuation depends on whether for buyers or sellers 

 

All these are just guides based on paper,  actual valuation will require on site inspection and detailed evaluation.

 

 

 

 

 

Thanks for the tips for sellers.

I found the price valuated accurate, but feel that it is in the banks interest to value at higher price so the loan amount is higher? Banks also have their interests to defend.

 


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#10165

Posted 12 March 2017 - 10:29 PM

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40 years old and already has several investment properties. He is my idol!
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Common sense is not a gift, it's a punishment. Because you have to deal with those who don't have it.

#10166

Posted 12 March 2017 - 10:31 PM

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Thanks for the tips for sellers.

I found the price valuated accurate, but feel that it is in the banks interest to value at higher price so the loan amount is higher? Banks also have their interests to defend.

Banks these days are conservative in their valuations and I have no mortgage interest with the bank I asked for an indicative valuation. The difference from SRX was around 40-50k for a property slightly under 1 million.

Thanks for the tips for sellers.

I found the price valuated accurate, but feel that it is in the banks interest to value at higher price so the loan amount is higher? Banks also have their interests to defend.

Banks these days are conservative in their valuations and I have no mortgage interest with the bank I asked for an indicative valuation. The difference from SRX was around 40-50k for a property slightly under 1 million.

#10167

Posted 12 March 2017 - 10:58 PM

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Yes, so your experience is quite different from what I was told, that banks had been very conservative and were cutting valuations (accurate as at October 2016).

 

What you are saying is that sellers had been selling below valuation... Which means the actual index should be at least 4-5% higher if all of them knew how to obtain the right valuation source.

 

 

Banks these days are conservative in their valuations and I have no mortgage interest with the bank I asked for an indicative valuation. The difference from SRX was around 40-50k for a property slightly under 1 million.

 


He is my idol too.

 

Most people in their 40s who had been saving and working hard for years would face the dichotomy.

 

Blue pill, or red pill?

 

 

40 years old and already has several investment properties. He is my idol!

 


"You take the blue pill, the story ends. You wake up in your bed and believe whatever you want to believe. You take the red pill, you stay in Wonderland, and I show you how deep the rabbit hole goes."

#10168

Posted 13 March 2017 - 03:45 AM

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I got a much higher valuation for my property from the bank than with SRX. Agents love to use SRX whether representing buyers or sellers coz they give lousy valuations. If representing seller, it helps to convince sellers to lower price so easier for them to sell. If representing buyers, it will give them ammunition to bargain price down for their buyers. If anyone is selling their property n agent use srx to convince you to lower your asking price, you can tell that agent to fly kite.

 

I am not sure why you say agents love to use SRX X-value. Maybe you come across some agents who use it, but they do not represent the majority.

 

I am in this line and I can tell you that we do not use it.  Infact, we always tell our clients that X-value is just a reference, and this is why SRX has a paid valuation service called X-listing.  There is a whitepaper written by SRX to explain the differences between X-value and X-listing.  The difference in prices between the two can be quite wide.  Some clients however, like to use X-value because it is very convenient for them.

 

If any agents use X-value and present that to client, then he is just plain lazy.  The right approach is to analyse the past transaction data including the neighborhood, but for small condos where there are only 1-2 transactions a year, we also obtain bank valuations to support our analysis.. For HDB, we use our in-house valuer in addition to past data.

 

The only SRX feature I use quite a bit is this paid feature called  "home report". It is a very thick report  (50-60 pages) that shows all the caveat history (and rental history) of the unit and its neighborhood including comparison with other condos (or landed). It is a professional report only available to agents.

 

My point however is that there are many agents out there who take their work seriously especially the full timers.  If you meet anyone whom you think is not speaking sense, then change him. Getting an agent badge is not easy these days (try taking the RES exam), so for one lazy agent, there will be a few good ones who will take your business seriously.


Edited by Icedbs, 13 March 2017 - 03:50 AM.


#10169

Posted 13 March 2017 - 07:01 AM

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I don't know jack Ma... but I had lunch with my previous CEO, who started a 8 billion market cap company. I asked him how he managed to start his company, he told me luck. Just happens that the main supplier had issues and could not deliver thus giving him his first big contract. He honestly told me 9 out of 10 startups fails and not because the founders are crap and he is good. Acting just gives you the chance to seize the opportunity, if no opportunity.... duh.... start again Lor.

By wrong property.... never mind, wait for next cycle Lor.

Frankly, I think the passage by jack Ma is not very nice

The timing of property buys impact is huge, that is why people are overly cautious and overly greedy. I bought my current property, at 1.38mil. 1800 sqft freehold terrace in late 2009. I enjoyed 8 years of near zero interest rates to repay my loan. I did not even catch the bottom....

Your ex ceo has a lot of insight. Not many ceo who are usually alpha type personality acknowledge the overriding influence of luck

#10170

Posted 13 March 2017 - 07:53 AM

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Huat ah! [:p]

http://www.businesst...ooling-measures
Keen interest at 2 property launches after govt eases cooling measures
Mar 13, 2017

BUYING interest moved up a notch at two residential projects launched over the weekend, one day after the government announced the easing of some property cooling measures.

Close to 170 units of the total 497 units at Qingjian Realty's executive condominium (EC) project iNz Residence - the first EC to be launched this year - were sold on the first day of booking on Saturday.

Meanwhile, crowds thronged the showsuite of Lendlease's condominium Park Place Residences at PLQ, which also opened on Saturday.

Kelvin Suen, a prospective buyer of Park Place Residences at PLQ said: "I have placed a cheque for a unit as I am keen to purchase it for investment purposes. The latest announcement on the property cooling measures was a very good deciding factor."

Lendlease's Asia chief executive officer Tony Lombardo said: "The response to our showsuite this past weekend has been overwhelming. We welcome the strong confidence buyers and investors have in Park Place Residences at Paya Lebar Quarter.

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#10171

Posted 13 March 2017 - 09:03 AM

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Luck does have a huge influence on when one is born, and the opportunities that are available immediately.

 

What luck has not that much influence on is in how one responds to failure, analyse situations and trends, sits out excessively high risk situations, and takes suitable and appropriate risks as opportunities re-surface over time, being prepared, bold and decisive when the opportune time arises.

 

From the point of feeling the need to buy car to ultimately buying a car, I took 2 plus full years, and still missed the $2 COE by 2 bids, but avoided the $30,000 to $40,000 COE. Was I lucky, or unlucky? Also consciously avoided the housing peak in 2013 when it was obvious the conditions were simply daunting.

 

The smoothening out of the motoring and property cycles via intervention helps to reduce the influence of luck, which is a great move to stabilise fluctuations in our tiny economy. Boom and bust cycles based on luck only benefit a small group of individuals. I feel that this is the way it is going to be going forward.

 

 

 

 

Your ex ceo has a lot of insight. Not many ceo who are usually alpha type personality acknowledge the overriding influence of luck

 


Edited by Showster, 13 March 2017 - 09:05 AM.

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"You take the blue pill, the story ends. You wake up in your bed and believe whatever you want to believe. You take the red pill, you stay in Wonderland, and I show you how deep the rabbit hole goes."

#10172

Posted 13 March 2017 - 09:06 AM

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do people need to pull hair and elbow each other to get into showroom? [laugh]

#10173

Posted 13 March 2017 - 09:08 AM

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ok continue to argue here as this is tooo big aldy:

 

http://www.mycarforu...r-down-part-ii/

 

until doomsday

 

 

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RESPECT is only for the DEAD!


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