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Singapore Private Property prices still up or down? Part III

pChou

By pChou,
in Property Buzz

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Wt_know

Wt_know

Supersonic
(edited)
1 minute ago, sgcarmart2019 said:

good thing CEA come in squeeze the balls 

but not hard enough leh, should fine 300k and ban the joker for life la 

30K = 3% of 1 transaction only ... sup sup water!

just assume do less 1 transaction 

shake leg for 12 months later ... can rejoin the million dollar table ... huat ah!

 

Edited by Wt_know
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sgcarmart2019

sgcarmart2019

2nd Gear
20 hours ago, Wt_know said:

30K = 3% of 1 transaction only ... sup sup water!

just assume do less 1 transaction 

shake leg for 12 months later ... can rejoin the million dollar table ... huat ah!

 

30k can't even buy a coe

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Throttle2

Throttle2

Supersonic

https://www.channelnewsasia.com/news/business/mas-financial-stability-review-property-risks-unsold-homes-12133586?cid=emarsys-cna_20191129_0000_FINAL+CNA+Mon+to+Sat+newsletter+(0740)_newsletter_29112019_cna&sc_customer=e7f4422c-8dbb-463a-8109-73f5c1f1b045&sc_src=email&sc_llid=147322&sc_lid=100071632&sc_uid=ILmjnHBTjW

 

 

where got, sure huat huat huat one lah.

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therock

therock

Supersonic

No free lunch folks...

https://www.straitstimes.com/business/property/real-estate-developer-castlewood-group-in-liquidation-investors-worried-about

 

Quote

SINGAPORE - A Phuket hotel resort project by a Singapore-based property developer that drew over $90 million of funds has gone sour, with some retail investors going as far as to lodge a police report after the company suddenly went into liquidation. 

Some investors of the failed developer, Castlewood Group, now suspect that they may have fallen prey to a scam.

They told The Straits Times that they were informed last month that Castlewood was winding up and that they had to attend a meeting to appoint a liquidator.

The investors declined to be named over fears that speaking to the press may jeopardise their chances of getting their money back.

Disgruntled investors are also organising themselves on social media platform Telegram to discuss ways to try to retrieve their funds.

Castlewood Group's key project is a hotel resort called Dream in the city of Patong on Phuket. It has about 170 rooms and suites.

Mr Christopher Comer, Castlewood Group former chief executive, said in a July 2013 media report that the company had chosen Singapore as its headquarters because it is a safe place for investments.

One investor, a 54-year-old businessman, said the recent meeting to appoint a liquidator came as a surprise. "I knew the company was not doing well, but I did not expect to lose my investment."

He had put in $100,000 or so and had expected to get around 8 per cent interest a year but had only received about $7,000 in the first year and nothing since.

A list by accounting firm Nexia TS passed around during the meeting in November at Jalan Sultan showed that Castlewood Group owed creditors, comprising mostly retail investors, about $107 million.

About 930 retail investors were owed about $91 million, with amounts ranging between $2,877 and $700,000, according to the document. 

It also owed money to various companies, with some firms telling ST that Castlewood Group had failed to pay for services like publicity.

The retail investors have contacted lawyers and government authorities to find out what options are available to them.

Some told ST that they did not know that the company had raised so much money - more than what was needed to build the resort.

Investors said they had put their money into Castlewood Group after attending events like Invest Fair or through recommendations.

They added that local celebrity Irene Ang had also endorsed the company, a move that lent it legitimacy.

Since when is Irene Ang an authority on property? 

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Showster

Showster

Twincharged
6 hours ago, therock said:

No free lunch folks...

https://www.straitstimes.com/business/property/real-estate-developer-castlewood-group-in-liquidation-investors-worried-about

 

Since when is Irene Ang an authority on property? 

It's quite obvious which are the best sources of investments for low and high risk investors. Such nice-sounding schemes are just investment-like but hard to sustain dreams. Savings, bonds (selected), reits (selected), stocks (blue), property.

All other forms I always ignore.

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therock

therock

Supersonic

https://www.straitstimes.com/singapore/chinese-developer-working-to-address-condo-owners-woes

 

Any owners here?

Quote

A ban that prevents Chinese developer Kingsford Huray from selling units at its upcoming project on the former Normanton Park site remains in force almost a year after it was imposed.

The ban was applied after a raft of complaints from owners about shoddy workmanship and poor amenities at its other projects, including the new Kingsford Waterbay.

The firm has been trying to improve its record. Over the past 12 months, it has been working to keep owners at Kingsford Waterbay condominium in Upper Serangoon happy.

For example, it shut and drained the 300m swimming pool for a month so it could line the edge of the stairs with tiles of a different colour to make them more visible.

Its move to please Waterbay owners came after the Government imposed a "no-sale licence" in January this year for its project on the old Normanton Park site.

Kingsford Huray secured the plot next to Kent Ridge Park in a collective sale in October 2017 for $830.1 million.

The order means the firm can start construction but not sell any of its planned 1,890 units before obtaining a Quality Mark certificate for each one, and approval from the Controller of Housing.

These can only happen after it secures a Temporary Occupation Permit (TOP).

Construction at the Normanton site began in late 2018.

 

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Wt_know

Wt_know

Supersonic
(edited)

the obsession of FASTER and CHEAPER

when it’s faster and cheaper, there is no way on earth it will be BETTER ... 

Edited by Wt_know
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Wt_know

Wt_know

Supersonic
(edited)

@fakenewssssassss!!! [laugh]

go tell pinnacle and boon keng sellers .... all shouting no $1M no talk!!!

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HDB flats are a depreciating assets

DC0133E8-9A88-40DC-8B39-7A7E4A4A08AE.jpeg

Edited by Wt_know
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therock

therock

Supersonic

Some of us might be wondering 

if SARS hits again, won’t it be a good time to buy?

prices may tank and it seems so

but it’s a good time if you can keep your job..

so if you are wishing for a recession, think hard because the man on the street walking aimlessly in shock could be you

or you are so cash rich and you can strike hard 👍 

As always YMMV ..

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13177

13177

Supersonic
On 1/2/2020 at 10:59 PM, Wt_know said:

@fakenewssssassss!!! [laugh]

go tell pinnacle and boon keng sellers .... all shouting no $1M no talk!!!

DC0133E8-9A88-40DC-8B39-7A7E4A4A08AE.jpeg

I still don’t understand why hdb flats at pinnacle all sell at least $900k to $1M plus? And yet there are still people willing to buy? If they buy hdb flat at $1M, dont think they can sell anything higher than this if they are selling in future.

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Wt_know

Wt_know

Supersonic

never say never ... when bto was sold at $500k

people think it’s crazy ... now it’s NORMAL and the price is creeping up!

$1M hdb is sup sup water la ... GSW BTO smelly smelly $1M at ballot ... huat ah!

 

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therock

therock

Supersonic
(edited)
2 hours ago, 13177 said:

I still don’t understand why hdb flats at pinnacle all sell at least $900k to $1M plus? And yet there are still people willing to buy? If they buy hdb flat at $1M, dont think they can sell anything higher than this if they are selling in future.

It's relative..

Eg a friend has a place at Dawson, he is surrounded by condos which cost 1-2 times more.. so he feels that his HDB is super VFM. He can swim at Delta, go to his work gym, and he is happy.

And those en bloc chaps want it Now... so after getting 4mil, there's plenty of change left over from such a 'cheap' place..

Edited by therock
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Alfc

Alfc

5th Gear
2 hours ago, 13177 said:

I still don’t understand why hdb flats at pinnacle all sell at least $900k to $1M plus? And yet there are still people willing to buy? If they buy hdb flat at $1M, dont think they can sell anything higher than this if they are selling in future.

I also dun understand what is all the BS about climate change, flooding in SG, potential Sars, middle-east unrest etc when property prices keeps going up. I dun give a damn about any of these until I see real property prices tanking, otherwise all really just BS.

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