New Bargains to be had?

[tenyawph]

Under the Residential Property Act, developers are required to pay an Additional Buyer Stamp Duty (ABSD) of 10 percent for land bought after December 2011 and 15 percent for land acquired after January 2013. 

 

But the government will waive the fee if they agree to build, complete and then sell all their units within a stipulated period, namely four years for executive condominiums (ECs) and five years for private residential properties.

 

So the deadline starts from Dec 2016 onwards.

 

Fast forward to 2016.   The imposed deadline is now 1 year away.  Developers that did not managed to sell all their units face a grim prospect of paying a hefty penalty. 

 

The following are the residential properties whose land was acquired from Dec 2011 till Sep 2012.  If these developments are not fully sold, will the developers cut prices for those unsold units this year? 

 

For those in the know, if you are aware of those developments that are fully sold, please update me. 

 

Development Name Echelon - fully sold, Michael's Residence, Bartley Ridge, Kovan Regency, Mon Jervois, Eco@Bedok South, Hillview Peak, Q Bay, J Gateway - fully sold, Vue 8 Residences, Jewel@Buangkok, Pollen & Bleu, Sant Ritz, Urban Vista, The Siena, The Venue Residences, The Skywoods, The Crest

Edited January 2, 2016 by tenyawph

[Wt_know]

really? no see blood yet leh ... all unsold units developer has plenty of "tricks" to handle ... govt just has to suck thumb

[Yeshe]

Knn, just sell to their leasing arm and manage as service apartment, problem solved

[Throttle2]

No matter what they do, it will just be the lesser evil.

 

Smart business people know better than to hold on and pay levies.

 

Not everyone has a leasing arm and even if they do, its not the best thing to over carry inventory.

Aging property and low rents plus tax is obviously not the winning formula for developers.

 

Woooohooooo happy new year

[Hosaybo]

Last trick they have is to sell at cost or abit of lost...... They have made their pile in the last few years.

[Jamesc]

Under the Residential Property Act, developers are required to pay an Additional Buyer Stamp Duty (ABSD) of 10 percent for land bought after December 2011 and 15 percent for land acquired after January 2013. 

 

But the government will waive the fee if they agree to build, complete and then sell all their units within a stipulated period, namely four years for executive condominiums (ECs) and five years for private residential properties.

 

So the deadline starts from Dec 2016 onwards.

 

Fast forward to 2016.   The imposed deadline is now 1 year away.  Developers that did not managed to sell all their units face a grim prospect of paying a hefty penalty. 

 

The following are the residential properties whose land was acquired from Dec 2011 till Sep 2012.  If these developments are not fully sold, will the developers cut prices for those unsold units this year? 

 

For those in the know, if you are aware of those developments that are fully sold, please update me. 

 

Development Name Echelon - fully sold, Michael's Residence, Bartley Ridge, Kovan Regency, Mon Jervois, Eco@Bedok South, Hillview Peak, Q Bay, J Gateway - fully sold, Vue 8 Residences, Jewel@Buangkok, Pollen & Bleu, Sant Ritz, Urban Vista, The Siena, The Venue Residences, The Skywoods, The Crest

 

Good post.

 

If anyone know which ones still unsold, please let me know.

 

I am more interested in the fire sales ones.

 

[tenyawph]

There is already a stirring from the developers last year.  They know the inevitable is coming, but our government is standing firm.

 

 

THE government has rebuffed calls by some developers to extend the five-year deadline for them to complete a residential project and sell all its units - part of a slew of property cooling measures introduced in recent years

 

See more at: http://business.asiaone.com/news/developers-calls-extend-project-deadline-meet-no#sthash.xHS9EThc.dpuf

[mersaylee]

I kinda stand by the govt (for once) on this...the developers, both local n foreign, especially the latter, been too aggressive with their land bids.

 

Market forces were great with the influx of hot monies...retracted substantially now with the clampdown in the middle Kingdom as well as redeployment of cash back to the land of dreams.

 

Local investors n genuine homeowners often have to succumb to the market forces at play.

Govt role is to be there to instrument a balance. If the greedy sellers can't chew more than it can take pls do the masses a favour n let the prices come to a sensible equilibrium.

 

衣食住行 - govt is having a tough time coping with the last 3...they are more geared towards creating a best biz hub in the region to keep us employed to handle all 4 on our own.

 

But, pap, please ensure the efficiency of the public transport system b4 I give up my coe for the newly formed family to go for a family car...

[Throttle2]

Under the Residential Property Act, developers are required to pay an Additional Buyer Stamp Duty (ABSD) of 10 percent for land bought after December 2011 and 15 percent for land acquired after January 2013.

 

But the government will waive the fee if they agree to build, complete and then sell all their units within a stipulated period, namely four years for executive condominiums (ECs) and five years for private residential properties.

 

So the deadline starts from Dec 2016 onwards.

 

Fast forward to 2016. The imposed deadline is now 1 year away. Developers that did not managed to sell all their units face a grim prospect of paying a hefty penalty.

 

The following are the residential properties whose land was acquired from Dec 2011 till Sep 2012. If these developments are not fully sold, will the developers cut prices for those unsold units this year?

 

For those in the know, if you are aware of those developments that are fully sold, please update me.

 

Development Name Echelon - fully sold, Michael's Residence, Bartley Ridge, Kovan Regency, Mon Jervois, Eco@Bedok South, Hillview Peak, Q Bay, J Gateway - fully sold, Vue 8 Residences, Jewel@Buangkok, Pollen & Bleu, Sant Ritz, Urban Vista, The Siena, The Venue Residences, The Skywoods, The Crest

i dont recall any new launch being fully sold last year.

Those fully sold ones must hv been launched years ago?

[tenyawph]

I kinda stand by the govt (for once) on this...the developers, both local n foreign, especially the latter, been too aggressive with their land bids.

 

Market forces were great with the influx of hot monies...retracted substantially now with the clampdown in the middle Kingdom as well as redeployment of cash back to the land of dreams.

 

Local investors n genuine homeowners often have to succumb to the market forces at play.

Govt role is to be there to instrument a balance. If the greedy sellers can't chew more than it can take pls do the masses a favour n let the prices come to a sensible equilibrium.

 

衣食住行 - govt is having a tough time coping with the last 3...they are more geared towards creating a best biz hub in the region to keep us employed to handle all 4 on our own.

 

But, pap, please ensure the efficiency of the public transport system b4 I give up my coe for the newly formed family to go for a family car...

 

The developers have turned cautious, after bidding aggressively in 2010-2012, as the government introduced cooling measures to put a stop to rising prices of properties.

 

I have been monitoring land sales in the Alexandra Road area.  Developers are now more restrained in their biddings.  A case in point:

 

A land sales (Alexandra View Parcel A), just next to the Redhill MRT, attracted a top bid of $851 psf ppr, in Nov 2015.   I am watching to see what is the average selling price for this property.  It will set the benchmark for the rest of the properties around the area.

 

i dont recall any new launch being fully sold last year.

Those fully sold ones must hv been launched years ago?

I am monitoring those properties (launched late 2011 -  Sep 2012) that are not fully sold, and is going to hit the 5-year deadline.  

 

For those launched last year, the deadline for these developers is till a long way ahead.

[mersaylee]

Hahaha...I can understand Alex residences but Principal Gardens? Teachers cam buy or not? Given the street name, I think Royal Gardens is more suitable.

[Duckduck]

A land sales (Alexandra View Parcel A), just next to the Redhill MRT, attracted a top bid of $851 psf ppr, in Nov 2015.   I am watching to see what is the average selling price for this property.  It will set the benchmark for the rest of the properties around the area.

 

their target price is prob 1480-1700psf based on abt 20% margin before tax. 1480psf for large units n 1700psf for 1 bedder.

 

knowing FEO itll b mostly 1 bedder at 1700psf n some micro 2 bedders which r investors fav

 

Edited January 2, 2016 by Duckduck

[Porker]

Knn, just sell to their leasing arm and manage as service apartment, problem solved

 

So smart. I did not waste my love and fist on you 

[Duckduck]

So smart. I did not waste my love and fist on you 

 

your fisting innuendos r mildly disturbing on this "serious" property thread lol

[Porker]

your fisting innuendos r mildly disturbing on this "serious" property thread lol

 

Sorry lah that fooker everytime troll me also LOL

 

Share some supply data leh. Wanna see what the oversupply number is 

[Throttle2]

Sorry lah that fooker everytime troll me also LOL

 

Share some supply data leh. Wanna see what the oversupply number is

Oversupply numbers are scary.

[tenyawph]

Oversupply numbers are scary.

Yes, the numbers are mind-boggling.  

 

Bargains are coming soon late 2016 onwards.  Some developers will have to 'show hand' and cut prices..  Prepare your cash and get ready to go in for the 'kill' when the opportunity comes.

 

Success to all our bros here!

[Jamesc]

I absolutely refuse to believe there is any oversupply

 

until I see prices fall substantially.

 

The only reason prices are not going up faster

 

is due to cooling measures.

 

If the CMs are removed I can see prices

 

sky rocketing.

 

Btw I am not a property salesman.