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Private Property prices......still up or down? Part II

RadX

By RadX,
in Property Buzz

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therock

therock

Supersonic

http://www.straitstimes.com/singapore/housing/en-bloc-the-unblockable-frenzy-whats-behind-the-hype

 

In about 3 years, there will be a lot of apartments looking for owners and people to rent them... the question is are there enough and will someone be buying beyond his/her means to reap some 'profits'??

 

 

 

Collective sales are set to hit their third biggest year in value ever. What's driving the fever this time around, and is relentless regeneration all it is cracked up to be? Insight takes a look

After a quiet decade, since May this year, 16 private residential estates have been put up for sale en bloc, with many others in the pipeline.

In their wake are overnight millionaires, but also displaced communities arising from the changes.

In particular, 2017 spells the end of the road for many Housing and Urban Development Company (HUDC) flats, which have contributed the lion's share of the more than 2,700 private units sold this year.

Even as some celebrate windfalls, the "en bloc" phenomenon has led to worries about infrastructural strains, oversupply of new housing units and class divides, among other things.

But beyond such concerns are also broader questions about the relentless renewal of a city versus the sentimental nostalgia for communities of old.

Insight examines the issues.

 
 
WHY THE HYPE THIS TIME?

Analysts predict that this year's frenzy will spark another cycle similar to the 2005-2008 one, which saw many large sites in prime districts sold collectively, giving a windfall to tens of thousands of sellers.

About 2,700 private homes have been sold en bloc this year - more than four times the 600 units sold last year. The total value of the deals has already exceeded $6 billion, with the possibility of even more deals closing by the end of the year. This makes 2017 the third biggest year for such deals in terms of value, after 2007 ($11.7 billion) and 2006 ($9.3 billion), according to Savills senior director research Alan Cheong.

On Monday in Parliament, National Development Minister Lawrence Wong offered two reasons for the pick-up - the first time he has spoken on the subject.

First, developers are keen to replenish their land banks, which observers say have dwindled to low levels since 2007.

Mr Wong had noted a "healthy increase" in the sale of new units in the first three quarters of the year, which in turn translates into unsold supply levels coming down. There are currently 17,200 unsold units, down from 40,000 in 2012, he said.

In addition, buying land through collective sales provides more variety of sites for developers than the government land bank alone - the supply of which developers have complained is insufficient, says veteran developer and academic Steven Choo.

 

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Showster

Showster

Twincharged

http://www.straitstimes.com/singapore/housing/en-bloc-the-unblockable-frenzy-whats-behind-the-hype

 

In about 3 years, there will be a lot of apartments looking for owners and people to rent them... the question is are there enough and will someone be buying beyond his/her means to reap some 'profits'??

Mostly upgraders renting out or selling HDB.

 

The trend started years ago and recently have been showing up on HDB stats.

 

Can comfortably absorb due to the pent up demand.

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Angcheek

Angcheek

Hypersonic

Mostly upgraders renting out or selling HDB.

 

The trend started years ago and recently have been showing up on HDB stats.

 

Can comfortably absorb due to the pent up demand.

I think most buy to invest rather than stay ?
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Enye

Enye

Hypersonic

HDB resale price got go up or not?

just visited 2 different units of a recently top ec in anchorvale crescent

 

1 3 bedder+ study, another 3 bedder

 

both just moved in not long ago

 

if you considering to move to such developments, i think better to stick to your hdb 5 roomer

 

 

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Showster

Showster

Twincharged

Not really.

 

Different groups buy for different reasons.

 

Most buy to live. Most would have agreed (just read the posts over the last 3 years) that buying as first property is a go-go but buying to invest is a no-go. As such, the majority of those who still proceeded to buy were most likely buying to stay or upgrade.

 

Some buy to keep (not to live and not to rent), just to keep (for capital preservation).

 

Some buy for capital appreciation to let go. But most in this category were likely deterred by TDSR and ABSD.

 

Some buy to let. Not a big group judging by the posts. 

 

Some just follow and buy, but to clear TDSR and all the CMs and just follow blindly to buy, that's really unlikely. This will be a really tiny group.

 

Anywa, still depends on locality and type of development the different proportions of each.

 

Nonetheless, the biggest overwhelming group above all these groups are those who did not buy.

 

I think most buy to invest rather than stay ?

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Dleodleo

Dleodleo

Twincharged

just visited 2 different units of a recently top ec in anchorvale crescent

 

1 3 bedder+ study, another 3 bedder

 

both just moved in not long ago

 

if you considering to move to such developments, i think better to stick to your hdb 5 roomer

 

ð¬ð

Are they treasure crest and bellewater?

 

Oh....very small is it?

 

Thanks for your advice.

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kdash

kdash

Supersonic

just visited 2 different units of a recently top ec in anchorvale crescent

 

1 3 bedder+ study, another 3 bedder

 

both just moved in not long ago

 

if you considering to move to such developments, i think better to stick to your hdb 5 roomer

 

 

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Mercs

Mercs

Hypersonic

Some blast from the past info ...

 

During the peak of 2013, la fiesta in Sengkang launch avg price $1150, and it near to mrt/bus int/mall.

http://sbr.com.sg/residential-property/exclusive/la-fiesta-half-sold-out

 

In 2015, High Park Residences next door launch avg $989, due to the downturn.

http://www.straitstimes.com/business/property/high-park-residences-buys-lift-july-new-private-home-sales-to-highest-in-two-years

 

Forward to today 2017, at $1,280 is already 30% price increase compared with High Park.

 

 

So you say, pte property prices ... still up or down?

Huat ah! [:p]

Sengkang now avg $1,270 psf and overwhelming demand

 

Huat ah!

 

[:p]

 

https://www.edgeprop.sg/property-news/parc-botannia-230-250-units-released-sold-first-weekend

Parc Botannia: 230 of 250 units released sold in first weekend

Nov 12, 2017

 

Sing Holdings and Wee Hur Holdings, announced that 230 units have been sold on the first weekend of its launch. The average price of units sold was $1,270 psf.

 

The partners had released 250 units in the first phase. Due to overwhelming demand, units had to be sold by balloting on Nov 11 conducted by exclusive marketing agent Huttons Asia.

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Carwoman

Carwoman

3rd Gear

Good luck with the sale [thumbsup]

 

Huat ah! :D

 

not seriously selling. Helped my neighbour sell by putting out a markup.

He got a very good price ! happy for him but lost a good neighbour

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Mercs

Mercs

Hypersonic

not seriously selling. Helped my neighbour sell by putting out a markup.

He got a very good price ! happy for him but lost a good neighbour

Thanks for update, and some say resale market bad [laugh]

Quite the contrary, sellers are holding firm due to low interest rates/ not overleveraged (tdsr)

Just do a comparison betwen new launch and resale, the latter will look like a bargain.

 

IMHO, with property there is really no real urgency to sell, unless due to personal reasons (Expensive today cheap tomorrow)

Hope the new owner be a good neighbour for you too, and when you do decide to sell ... HUAT!

 

:D

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Showster

Showster

Twincharged

If people keep on hoarding the property, the attraction to come here to work will get very expensive.

The penalty to hoard is expensive, 7-10% ABSD if Singaporean, 15% for foreigners.

 

That is the main reason why HDB prices and rents have fallen and will continue to be under pressure to prevent or minimise hoarding.

 

14 quarters of getting foreigners to leave their hoard to locals for private property.

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Carwoman

Carwoman

3rd Gear

Haha! How you know I'm kor kor? [sly]

 

So I should call you carwoman xmm? [:p]

ok...call me auntie but not ah soh or ah lian...

 

new neighbour is Ang Mo. Scolded my little kids for making too much noise.

Thanks for update, and some say resale market bad [laugh]

Quite the contrary, sellers are holding firm due to low interest rates/ not overleveraged (tdsr)

Just do a comparison betwen new launch and resale, the latter will look like a bargain.

 

IMHO, with property there is really no real urgency to sell, unless due to personal reasons (Expensive today cheap tomorrow)

Hope the new owner be a good neighbour for you too, and when you do decide to sell ... HUAT!

 

:D

aiyoh, see you work so hard...

 

another post you did not update

 

http://www.propertyguru.com.sg/property-management-news/2017/11/164721/almost-one-third-of-parc-botannias-units-sold-during-launch

 

don't slip up again ok?

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