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

[Mercs]

Leverage to the max. Just 1 recession will have some crying for help to support loan payments for 2 properties.

Last time maybe but today there is CMs/TDSR how to leverage max if income dun support?

That's why also hardly see any firesales, only those high end expensive properties bought by foreigners that need to cashout for whatever reasons.

 

If recession do come, 1 property leverage max should still be fine. If 2, probably the parents to support.

With ongoing enbloc fever, even more and more millionaires created out there. So no worries!

 

[Mercs]

Showtime 2018 ... no $1600-$1800 psf no talk

 

Chiong ah!

 

https://www.propertyguru.com.sg/property-management-news/2018/6/172905/park-colonial-open-for-preview-this-weekend

Park Colonial Open For Preview This Weekend

June 26, 2018

 

Park Colonial, an 805-unit private residential project along Woodleigh Lane in District 13, is set to open its showflat for preview this Saturday (30 June).

 

The 99-year leasehold colonial-themed condominium in the city fringe is being developed by a consortium led by Chip Eng Seng’s property arm CEL Development.

 

"The development is situated in a prime location, right next to Woodleigh MRT station and within proximity to amenities, expressways and adjacent to the up-and-coming Bidadari town, which we believe will attract strong interest from the public ahead of its launch,”

 

Average prices for units in Phase I are between $1,600 and $1,700 psf, with the entire project averaging around $1,700 to $1,800 psf.

 

Various unit layouts are available from one- to five-bedroom apartments measuring between 463 sq ft and 1,712 sq ft.

 

There will also be more than 50 facilities including a Tea Garden, Waterfall Lounge and Boulevard Gourmet House.

 

The approximately 210,402 sq ft site was awarded to the developers in a state tender last July for $700.7 million ($1,110 psf per plot ratio), with the consortium beating out 14 other firms in a hotly contested tender.

[Angcheek]

EC on super duper all time low supply.

 

With rising PTE psf prices, EC to be even more in demand, super hotcakes to sell fast.

 

But why release more EC land when can sell GLS pte, ahgong happy to collect more absd taxes ;)

 

Thats what i thought too ...

[Mercs]

Thats what i thought too ...

[antelop]

 

Showtime 2018 ... no $1600-$1800 psf no talk

 

So happy for chip eng seng to have clinched this plot, outbidding two temasek companies (keppel via corson, capitaland via blossom) and 3 chinamen (Logan, Kingsford, CSC).

 

These civil servant managements, having missed out the opportunities to replenish their rapidly diminishing land bank during last 3 years, are now scrambling in desperation to bid above $1000psf for suburban leasehold land.

[Showster]

Leverage to the max. Just 1 recession will have some crying for help to support loan payments for 2 properties. Or maybe they are T2 disciplines, everything full cash. Then no scared no scared.

Only 2 options when and if recession or slowing demand occurs.

 

1. Low demand, price plummets.

 

2. Devaluation of currency to present picture of no recession. In fact, we will see strong demand presented from all the data we have, but will not feel it on the ground until it is concluded.

 

1 already happened before and found its eventual price support. It is an undesired vicious cycle that all reasonable governments have learned to avoid.

 

2 is happening now.

[Showster]

Uh-oh. Kenna blocked.

 

Good luck or not good luck?

 

https://www.straitstimes.com/business/property/goodluck-garden-collective-sale-blocked-by-strata-titles-board-after-7-owners

[therock]

What's a lack of good faith?

Didn't get enough $$ ?

[Angcheek]

Uh-oh. Kenna blocked.

 

Good luck or not good luck?

 

https://www.straitstimes.com/business/property/goodluck-garden-collective-sale-blocked-by-strata-titles-board-after-7-owners

In an enbloc ... how is owner guaranteed of the payment in full ? Edited June 27, 2018 by Angcheek

[Showster]

In an enbloc ... how is owner guaranteed of the payment in full ?

No such experience for me. I guess receive the money then move out bah.

[Angcheek]

No such experience for me. I guess receive the money then move out bah.

 

 

As far as I know , enbloc does not mean u will get money upfront . Usually you got to move out first , only get the payment later part . But not sure when will developer pay in full or how much they pay in each stages.  

[Showster]

As far as I know , enbloc does not mean u will get money upfront . Usually you got to move out first , only get the payment later part . But not sure when will developer pay in full or how much they pay in each stages.

You got enblocced?

[therock]

In an enbloc ... how is owner guaranteed of the payment in full ?

You get it in parts, typically a few months later.

But the terms vary between developments. But they will all take months before you can buy that new Ferrari :) 

[Angcheek]

You got enblocced?

 

nope ... no chance hahaha my block only 15 yr old . 

[therock]

This is one reason why the Chinese will pay anything to move abroad, and why the love SG..

[Wt_know]

but more and more hdb cum private is built by chinese developer leh

[therock]

Here we have legislation, we actually clamp down on shoddy builders.. it isn't as fast as the anti-government envisage, but it's a lot better than places in the world where buildings simply collapse like a stack of cards.

See Taiwan, Pakistan and many other places..

[Mercs]

https://www.straitstimes.com/business/economy/singapore-is-4th-most-expensive-city-in-the-world-for-expats-with-hong-kong

Singapore is 4th most expensive city in the world for expats, with Hong Kong costliest

June 26, 2018

Edited June 27, 2018 by Mercs