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

RadX

By RadX,
in Property Buzz

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Mercs

Mercs

Hypersonic

Interesting :D

 

https://www.srx.com.sg/singapore-property-news/34692/a-creative-way-of-selling-homes-that-is-testing-tax-boundaries

A creative way of selling homes that is testing tax boundaries?

24 Mar 2017

 

THE enhanced deferred payment scheme at The Peak @ Cairnhill I and II (Peak I and Peak II) offers an intriguing way for the developers to move their inventory

 

Illustration

 

To give an illustration, let's say Buyer A agrees to buy a small unit at Peak II from the developer for S$2.1 million by footing a 20 per cent non-refundable downpayment of S$420,000. Buyer A can move into or rent out the unit as he has signed a tenancy agreement with the landlord as master lessee. During the two-year period, the property tax and maintenance fee payable are also absorbed by the developer.

 

Between now and the exercise date in March 2019, Buyer A finds Buyer B to take over the option; Buyer B agrees to be the nominee to exercise the option by paying Buyer A S$520,000 as he expects that the price of the unit will rise by more than S$100,000 in two years' time.

 

This is a win-win. Buyer A gets to profit on a "resale" without paying any buyer's stamp duty and seller's stamp duty since he did not effectively own the unit to begin with. Buyer B gets to maintain the loan quantum based on the original property value of S$2.1 million even if prices shoot up within the two years. Such transaction is undeclared since passing on the option to purchase merely requires a letter of nomination prepared by solicitors.

 

 

Since the inception of the enhanced scheme this year, 11 of some 17 balance units at Peak I have been sold while 56 of the 60 units at Peak II have been sold. But it is unclear if any of these options have been reassigned to someone else, though some agents say that none has taken place.

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Sdf4786k

Sdf4786k

Twincharged

Hiya next time singapore gg to be car lite society, expressways will be irrelevant. They are promoting cycling to work, buy near park connectors la...jamless

 

I think cycling while it do no harm, it seems to be taking a step back to the Japanese occupation.

 

By that time, the keyboard warrior would be saying, the great divide between the have vs the have not. Those that have, owns cars or company provide cars, those dont have, take MRT

 

Now at least there is the lower income, the middle income and the higher income... 

 

IF we can take everything aside and craft out in such a way in urban panning like South korea

 

https://www.youtube.com/watch?v=szktRPHI1U8

 

At least I will gladly give up my car and feel that with such a vibrant  urban planning, whats there not to like ?

 

A really smart city.

 

But then the question begets, South Korea is so large, Sg is but a small island, we can only build small stuff.

 

If you look at the Jurong business district. And you look at tengah New town. You have a super huge potential to develop a super duper smart city that is equavlent.

 

Jurong incineration plant is so near. If you have that infrastructures build and harmonised with Tengah new town and jurong lake district, pump some money in bukit batok to revamp it, hedge your bet on industralise the woodlands area as well, you have the right critical mass to make it happen.

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Wt_know

Wt_know

Supersonic

china talk is 101

when it comes to reality ... 0.01

can't find an internet pix to depict china ... internet vs reality

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Freewill

Freewill

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I am not so supportive of car lite by having more cycling but more mrt is ok as singapore weather is more conducive to cycle as recreation than say cycle to work. The current framework are not conducive and people have not reach that gracious stage yet to give way and take care of pedestrians.Also who pay bicycle tax (since there is rd tax) for building all these infrastructure? Nevertheless if 1 day it materialize i am quite sure it will create new set of problems like safety (imagine cycle at night is it bright enough to prevent burglary or crimes, safe for children?) , accidents, insurance, licence issues etc. I think all these shld be in place b4 and thought through before promoting. Today news talk abt flying cars! I think all these starting to cause indigestion for transport sector.

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https://www.theedgeproperty.com.sg/content/le-nouvel-ardmore-unit-fetches-4005-psf

Le Nouvel Ardmore unit fetches $4,005 psf

March 25, 2017

 

At Le Nouvel Ardmore, Wing Tai Holdings’ 43-unit ultra-luxury condominium project, a unit was recently sold for $15.17 million ($4,005 psf), according to a caveat lodged on March 14.

 

The last transaction prior to this was in June 2016, when a four-bedroom unit of 5,242 sq ft on the seventh floor was sold to a foreign buyer, believed to be an Indonesian tycoon, for $21 million ($4,006 psf).

 

The most eye-popping transaction at Le Nouvel was the sale of the duplex penthouse of 13,875 sq ft for $51 million. The buyer was said to be Sun Tongyu, a mainland Chinese tycoon who is now a Singapore permanent resident and general partner of Venturecraft Group and the Singapore Diamond Investment Exchange, one of the few commodity exchanges in the world for physically settled diamonds. Sun is one of the founding members of Alibaba and Taobao, an e-commerce marketplace.

 

The penthouse includes a 5,000 sq ft roof terrace. Its $51 million price tag translated to $3,676 psf, based on total floor area. In terms of absolute price, it is still considered a record- breaking transaction for a condo unit today.

 

In recent weeks, there has been a handful of transactions elsewhere in the Ardmore Park neighbourhood. Last month saw a 2,885 sq ft, four-bedroom unit at the neighbouring Ardmore Park condo change hands for $8.9 million (3,085 psf). The seller purchased the unit in August 1996 for $5.4 million ($1,876 psf) when the project was launched.

 

Wheelock’s other project in Ardmore Park, the 84-unit Ardmore Three, saw five units sold at prices ranging from $6.06 million ($3,389 psf) to $7.07 million ($3,981 psf) in February.

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Showster

Showster

Twincharged
(edited)

In the future, it is likely to be PMD plus MRT as a new mode of transport with the revision of the laws for PMD usage. Bicycles are still too bulky to fold here and there but other forms of auto-scooters are quite easy to manage. Maybe designate alternate lanes for pedestrians and PMDs to help minimise accidents.

 

The other thing is that an increase in dependence on buses rather than only MRT is taking place with the increase in bus depots and bus lines / bus contracts. I believe Mr LKY was supportive of dependence on buses but the newer ministers then perhaps felt that MRTs are more modern. Old man right again?

 

Never realised that there are those with identical views regarding West congestion (below):

 

http://www.todayonline.com/voices/discrepancy-number-mrt-lines-west-puzzling

 

Flying cars will only remain a dream in most countries due to the emergence of terrorism threat.

 

 

I am not so supportive of car lite by having more cycling but more mrt is ok as singapore weather is more conducive to cycle as recreation than say cycle to work. The current framework are not conducive and people have not reach that gracious stage yet to give way and take care of pedestrians.Also who pay bicycle tax (since there is rd tax) for building all these infrastructure? Nevertheless if 1 day it materialize i am quite sure it will create new set of problems like safety (imagine cycle at night is it bright enough to prevent burglary or crimes, safe for children?) , accidents, insurance, licence issues etc. I think all these shld be in place b4 and thought through before promoting. Today news talk abt flying cars! I think all these starting to cause indigestion for transport sector.

 

Edited by Showster
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Wt_know

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Supersonic
(edited)

the West is taken for a ride

since sure win ... no need to worry ... muahaha

post-7984-0-64188000-1490499875_thumb.png

Edited by Wt_know
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Mercs

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Hypersonic

Only wanted to release 40%, due to overwhelming response, 50% sold on first day of launch.

Showflat closed after just one day of sales, anticipating an uptrend in prices? [sly]

 

Just goes to show, developers now are NOT worried units can't sell, only to release units for sale when prices are even more favourable.

From $1,600 to over $2,000 psf NOW [sweatdrop] for Paya Lebar, what does that tell you?

 

Huat lah! :D

 

https://www.theedgeproperty.com.sg/content/half-units-park-place-residences-snapped-first-day-sales

Half the units at Park Place Residences snapped up on first day of sales

March 26, 2017

 

Park Place Residences at PLQ sold 215 units (50%) of the 429 units within the development on the first day of launch on March 25.

 

The developer, Australian group Lendlease, had initially intended to release 40% of the units in phase one of sales, but released another 10% due to overwhelming response. Prices of the units sold ranged from $800,000 for a one-bedroom unit to $2.1 million for a three-bedroom premium unit, or from $1,600 to over $2,000 psf.

 

The showsuites will be closed after just one day of sales, according to Lendlease in a statement on March 26. Details of the phase 2 sales launch will be released later this year. Prices of the remaining units are forecast to increase as future announcements are made about the upcoming Grade-A offices, shopping mall, the plaza and parkland, as well as the greater Paya Lebar Central area.

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Wyfitms

Wyfitms

Twincharged

As expected, under $2000 psf small units sell like hot cakes

Looks like game can continue on for some time, no problem

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Newbie26

Newbie26

Hypersonic

The developers must be very confident of the sale of the project to hold back till later just like Marina One project, sell one block and another block at TOP, and Wallich residence sell a few units and sell the rest after TOP

 

There is a risk in this approach

 

Highline residence at Tiong bahru, launched for 1 day with long que then closed for so many months But market subsequently dropped and when they reopened at a lower price, crowds no longer there.

 

Another approach is to sell most of the units when the hype is still hot

 

Only wanted to release 40%, due to overwhelming response, 50% sold on first day of launch.
Showflat closed after just one day of sales, anticipating an uptrend in prices? [sly]

Just goes to show, developers now are NOT worried units can't sell, only to release units for sale when prices are even more favourable.
From $1,600 to over $2,000 psf NOW [sweatdrop] for Paya Lebar, what does that tell you?

Huat lah! :D

https://www.theedgeproperty.com.sg/content/half-units-park-place-residences-snapped-first-day-sales
Half the units at Park Place Residences snapped up on first day of sales
March 26, 2017
 

 

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Wyfitms

Wyfitms

Twincharged

The developers must be very confident of the sale of the project to hold back till later just like Marina One project, sell one block and another block at TOP, and Wallich residence sell a few units and sell the rest after TOP

 

There is a risk in this approach

 

Highline residence at Tiong bahru, launched for 1 day with long que then closed for so many months But market subsequently dropped and when they reopened at a lower price, crowds no longer there.

 

Another approach is to sell most of the units when the hype is still hot

I supposed at 50% they have probably reached breakeven. The remaining will be to squeeze out as much profit as possible which they are prepared to wait
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Mercs

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Hypersonic

The developers must be very confident of the sale of the project to hold back till later just like Marina One project, sell one block and another block at TOP, and Wallich residence sell a few units and sell the rest after TOP

 

There is a risk in this approach

 

Highline residence at Tiong bahru, launched for 1 day with long que then closed for so many months But market subsequently dropped and when they reopened at a lower price, crowds no longer there.

 

Another approach is to sell most of the units when the hype is still hot

Yes bro, developer really confident, now already selling 1600-2000 psf ... still gonna increase prices at next phase.

But like I've mention, there is a demand bubble brewing, just look at the overwhelming take up, even at such current prices! [:p]

Govt is aware and just like 'soft landing' to prices, have to do a gradual easing on CMs to taper off the demand.

So this will further assist to enhance demand near term.

 

I reckon TDSR and ABSD here to stay though, similar to COE to control car population, absd to control property prices, prevent a quicken and sudden spike up.

Icing on the cake for ahgong, another revenue source to offset budget spendings. People get used to it, paying absd ... may just become another 'norm' [sweatdrop]

https://www.bloomberg.com/news/articles/2017-02-21/singapore-studying-tax-measures-as-budget-pressures-increase

Singapore Studying Tax Measures as Budget Pressures Increase

Feb 21, 2017

 

:D

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https://www.theedgeproperty.com.sg/content/profit-25-mil-astrid-meadows

Profit of $2.5 mil at Astrid Meadows

March 26, 2017

 

On March 9, a 2,583 sq ft unit at Astrid Meadows in prime District 10 was sold at a $2.5 million profit. The seller bought the unit at $1.8 million, or $706 psf, in October 1998 and sold it at $4.3 million, or $1,657 psf. The profit works out to 135%, or 5% a year, over a holding period of 18 years.

Based on the matching of URA caveat data, four units at Astrid Meadows were sold at profits ranging from $498,000 to $1.6 million last year, while one unit was sold at a $135,000 loss.

 

A 2,766 sq ft unit at Peach Garden in District 15 fetched the second-biggest profit of $1.7 million, for private non-landed houses sold in the week of March 7 to 14. The seller bought the unit at $1.4 million, or $506 psf, in 1995 and sold it at $3.1 million, or $1,124 psf, on March 7. The profit works out to 122%, or 4% a year, over a holding period of 22 years.

Based on the matching of URA caveat data, there have been 17 profitable transactions and no unprofitable transaction at Peach Garden since 2006.

 

At Costa Rhu, also located in District 15, a 1,776 sq ft unit fetched the third-biggest profit, of $1.3 million, for the week. The seller bought the unit at $838,000, or $472 psf, in November 2005 and sold it at $2.1 million, or $1,194 psf, on March 14. The profit works out to 153%, or 9% a year, over a holding period of 11 years.

Based on the matching of URA caveat data, there have been 119 profitable transactions and two unprofitable transactions at Costa Rhu since 2012.

 

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