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

[Showster]

Developers love you so much. haha

Actually those who have secretly or openly bought before the newest CMs will thank and love me the most. They have benefitted the most.

 

Developers have too much on their plate to care about what I say.

 

Anyway, these are official figures as far as I am aware. Any error please feel free to correct.

 

See attached too for the periods of glut for comparison. Figures may vary somewhat due to changes in completion dates and projection but the trend is clear.

Edited September 4, 2018 by Showster

[Wt_know]

https://www.propertyguru.com.sg/property-management-news/2018/9/174353/waterfront-punggol-flats-a-hit-among-buyers

Waterfront Punggol Flats A Hit Among Buyers

Sept 4, 2018

 

"Punggolâs popularity among buyers is due to the fact that some of the flats offered there come with views of the Johor Strait. Industry watchers noted that sea views, which are rare for HDB flats, could help to fetch higher prices later."

who cares simi sai petrochemical plant

punggol comes with sea view ftw!!! huat ah!!!

Edited September 4, 2018 by Wt_know

[Showster]

who cares simi sai petrochemical plant

punggol comes with sea view ftw!!! huat ah!!!

Buy a smaller property. Close the windows. Switch on the particulate hepa filter and turn on the aircon half of the time. You might need to anyway with this kind of weather. Enjoy the view.

 

Healthier than any Science can prove.

 

You can have your cake and eat it.

[Khng8]

Bids still look bullish to me.

https://www.businesstimes.com.sg/real-estate/9-bids-for-canberra-link-ec-site-5-for-dairy-farm-road-plot-and-3-offers-for-jalan

[Wt_know]

china developers ftw !!!

 

Bids still look bullish to me.

https://www.businesstimes.com.sg/real-estate/9-bids-for-canberra-link-ec-site-5-for-dairy-farm-road-plot-and-3-offers-for-jalan

[Mercs]

who cares simi sai petrochemical plant

punggol comes with sea view ftw!!! huat ah!!!

Those sea facing sure to command a 'premium' in future.

Dun play play hor, these units even though in Punggol, maybe next time ... no 1mil no talk!

[Kusje]

china developers ftw !!!

 

 

winners mostly local leh.

 

does ocbc still own united engineers? i should sell my ocbc shares.

[Dafansu]

Actually those who have secretly or openly bought before the newest CMs will thank and love me the most. They have benefitted the most.

 

Developers have too much on their plate to care about what I say.

 

Anyway, these are official figures as far as I am aware. Any error please feel free to correct.

 

See attached too for the periods of glut for comparison. Figures may vary somewhat due to changes in completion dates and projection but the trend is clear.

 

need to read with this also.

 

 

About 20,000 private homes are expected to be built from Government Land Sales (GLS) and en-bloc sites that are pending planning approval, and there are another 24,000 unsold units from projects that have received planning approval. 

 

Additionally, more than 30,000 existing private homes are still vacant, the Ministry of National Development (MND) said in a press release.

 

https://www.channelnewsasia.com/news/business/private-property-land-supply-government-sales-developers-10473948

[Showster]

need to read with this also.

 

About 20,000 private homes are expected to be built from Government Land Sales (GLS) and en-bloc sites that are pending planning approval, and there are another 24,000 unsold units from projects that have received planning approval.

Additionally, more than 30,000 existing private homes are still vacant, the Ministry of National Development (MND) said in a press release.

 

https://www.channelnewsasia.com/news/business/private-property-land-supply-government-sales-developers-10473948

There has been some overprojections as some enbloc had hit roadblock. Some are stretched out in legal battles and/or awaiting approvals.

 

The current GLS are also for units that will be ready much later. Current completions or TOP units are at a trickle as mentioned.

 

The vacancy rates had continued to dwindle over the last few quarters due to URA rules to limit to 6 per household, as well as the minimal number of units entering market. Last I remember vacancy rate is 7.8%, very close to long term baseline vacancy rates.

[therock]

As much as logic tells us that the cooling measures will bring about price reductions, the main issue is that there is no real push factor. 

The main push is the tax sellers incur when they face the deadline to sell.

For resale units, the push factor depends on how urgent the seller needs to get rid of his/her unit.

So the current holding power of primary and secondary market sellers is solid. There is no fire sale mentality.

Everyone has jobs, the market is not tanking.

 

In other words, you see a nice deal or you are in need of a price, anytime is a good time.

[grandis123]

够力！

 

wah 1700psf? Last time sky habitat was like 1500psf right? and I thought how to sell but in the end also sold. Lets see how it goes this time.

[therock]

wah 1700psf? Last time sky habitat was like 1500psf right? and I thought how to sell but in the end also sold. Lets see how it goes this time.

The upside is still there, but for those expecting big gains for their investment, the high flying days of yore are gone.

One need to have a long term view, especially with the taxes and other costs of buying and selling..

[Wt_know]

when psf hit $1000/psf ... people said the upside was limited

then comes $1200/psf $1500/psf $1700/psf ....

never says never ... the current trajectory is going up and up and up

 

just like paying $700k for a resale hdb in punggol is nothing to shout about

don't even need to mention amk, tpy, bishan, clementi ... not even CCR areas

and we are talking about public housing

private housing will take the Q from public housing

 

The upside is still there, but for those expecting big gains for their investment, the high flying days of yore are gone.

One need to have a long term view, especially with the taxes and other costs of buying and selling..

 

Edited September 5, 2018 by Wt_know

[Showster]

when psf hit $1000/psf ... people said the upside was limited

then comes $1200/psf $1500/psf $1700/psf ....

never says never ... the current trajectory is going up and up and up

 

just like paying $700k for a resale hdb in punggol is nothing to shout about

don't even need to mention amk, tpy, bishan, clementi ... not even CCR areas

and we are talking about public housing

private housing will take the Q from public housing

Just look at the starting graduate salaries with Honours across the board, over the years, closing in on 4K already.

[Wt_know]

Just look at the starting graduate salaries with Honours across the board, over the years, closing in on 4K already.

yeah.

work 2 yrs promote manager

work another 5 yrs promote director

salary no $20k no talk by age 30

huat ah!

[Showster]

yeah.

work 2 yrs promote manager

work another 5 yrs promote director

salary no $20k no talk by age 30

huat ah!

I think 10K by 30 years old many of them can.

 

20K depends on sector loh. Maybe by 40...

[Wind30]

Bids still look bullish to me.

https://www.businesstimes.com.sg/real-estate/9-bids-for-canberra-link-ec-site-5-for-dairy-farm-road-plot-and-3-offers-for-jalan

 

https://www.businesstimes.com.sg/real-estate/measured-bid-counts-in-latest-government-land-sales-tenders-for-private-housing

 

Why you say bullish business times say measured.

 

The OBVIOUS comparison is

"The nearby Hillview Rise GLS site was clinched by Hong Leong Group on July 3 for S$460 million, or S$1,067 psf ppr."

 

After cooling measure,

 

"At the Government Land Sales (GLS) site at Dairy Farm Road, United Engineers' UED Residential submitted the top bid of S$368.8 million, or S$830.4 psf per gross floor area (GFA)."

 

People say developer die die wont cut price.... but if all the new land sales are like 230psf cheaper...

 

I am just glad that the developers are lowering their bids. Imagine you are Hong Leong, what should you do? 

winners mostly local leh.

 

does ocbc still own united engineers? i should sell my ocbc shares.

 

I think you should sell Hong Leong first. They bought a adj site just 2 months earlier for 230psf higher...

Edited September 5, 2018 by Wind30

[Khng8]

I’m referring to the Jln Jurong Kechil site. The break even price will be Daintree Residences (DR) selling price now & DR is closer to Beauty World mrt & amenities. Not vested here.