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Singapore Private Property prices still up or down? Part III

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HK/China power big money coming, can expect more demand to luxury properties.

 

 

https://www.straitstimes.com/business/property/braving-curbs-chinese-buyers-lead-foreign-revival-in-singapores-luxury-homes

Braving curbs, Chinese buyers lead foreign revival in Singapore's luxury homes

 

Some of the Chinese investors are apparently buying into these luxury homes in the city state as a safety bet against the US-China trade war. Fresh interest is also being driven by instability in rival financial hub Hong Kong.

 

"The Chinese are coming," "The factors are the issue in Hong Kong and also the trade war... They are looking at the stability of our currency."

 

there has been a rush of potential Chinese buyers to view the property in recent weeks.

 

Other brokers said they were aware of four deals over the last three months where Chinese bought apartments worth $20 million to $30 million in Singapore.

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https://www.businesstimes.com.sg/real-estate/property-facing-demand-supply-mismatch-but-redas-sees-limited-price-downside

Property facing demand-supply mismatch but Redas sees limited price downside

 

(Commentators say price cuts will be moderate, with more buyers expecting stable or only slight falls in prices; demand from en bloc millionaires to stay resilient)

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Some warning of recession, so be careful when you consider big ticket items like a new home or even just some fancy reno.. 

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Posted (edited)

Some warning of recession, so be careful when you consider big ticket items like a new home or even just some fancy reno..

On the other hand, wall street is roaring to a new height:

 

Dow ends above 27,000 points for first time, S&P 500 hits record

 

Read more at https://www.channelnewsasia.com/news/business/dow-ends-above-27-000-points-for-first-time-s-p-500-hits-record-11713566

Edited by awhtc
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Posted (edited)

This is a very odd situation..

80% of Singaporeans are supposed to be in HDB, so that leaves 20% in private. And some people are straddling both worlds, so let's add another 10%

 

If we have 6 million people, and another 2 million or so who are foreigners, that makes 3.6 million who are the target buyers. Yet sales are so wild..

 

So it shows that the local appetite for property is still high, despite what the numbers and news indicate..

Edited by therock

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Anyone seeing One Pearl Bank this weekend?

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This is a very odd situation..

80% of Singaporeans are supposed to be in HDB, so that leaves 20% in private. And some people are straddling both worlds, so let's add another 10%

 

If we have 6 million people, and another 2 million or so who are foreigners, that makes 3.6 million who are the target buyers. Yet sales are so wild..

Mild or wild?

 

Not forgetting the basic down payment for everyone had been adjusted to 25% from last year.

 

That’s a cool 50,000 on top of 200,000 for a 1 million property.

Anyone seeing One Pearl Bank this weekend?

May not be able to buy but is a must see.

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anything below $1.25M

sporean will whack

tested and proven

again and again

developer knew it

agent knew it

it’s the “spoken” rules in property

huat ah!

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Hong Kong government depends heavily on land sales to sustain its budget.  Hence, it colludes with the private developers to push up the land prices.

 

Singapore's property taxes are a significant chunk (~19% in terms of direct taxes in FY2017 excluding GST) of the budget too.

 

https://www.iras.gov.sg/irashome/Annual-Reports/Corporate-Information-and-Highlights/Our-Revenue-Collection/

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This condo should see hot sales

Collecting cheques..

 

studio from 2200pfs plus

2 room from 2100pfs plus

 

high floors will likely be 2500-2800pfs

 

launch prices inline with expectations. the Q is whether there will be further discounts for early birds

 

Table from website

 

Bedroom Type Unit Type Size (sqft) Stack Indicative Starting Prices Studio A1(m) 431 02, 13 From $970K   A1 431 03, 14 From $970K 1 Bedroom B1 570 09, 20 To Be Advised   B2 527 10 To Be Advised   B3 527 21 From $1.1mil   B4 560 17 To Be Advised 2 Bedroom C1(m) 700 05, 16 From $1.5mil   C1 700 04, 15 From $1.5mil   C2 743 06 To Be Advised   C3 893 11, 22 To Be Advised   C4 807 – 840 19 To Be Advised 3 Bedroom D1 1098 – 1152 01, 12 From $2.5mil   D2 1184 – 1216 07 To Be Advised   D3 1195 – 1281 08 To Be Advised 4 Bedroom E1 1399 – 1432 18 From $3.5mil Penthouse F1 2691 18 To Be Advised   F2 2788 13 To Be Advised   F3 2626 06 To Be Advised   F4 2777 02 To Be Advised

 

 

 

Anyone seeing One Pearl Bank this weekend?

 

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2100 psf?

I’ll take amber or river gate an older condo

Thanks

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Which Amber r u referring to ?

post-52390-0-05151100-1563068220_thumb.jpeg

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Pretty much all of them are better in IMO..

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https://www.todayonline.com/singapore/thousands-throng-one-pearl-bank-launch-including-former-residents-keen-return

Thousands throng One Pearl Bank launch, including former residents keen to return

Alex Poh got 5m... No wonder he wants to champion the enbloc to go thru.

 

And with 5m, he still wants to take loan for the 1m unit that he intends to buy.

 

This guy sounds like a mercenary to me.

 

And Auntie Hui.. so lich. Can buy 2 units and 1 for her son also. The son is very lucky to not have to worry about housing. He better pay it forward to his chewren.

 

Why do I sound so sour grapes?

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Now a big portion of the expensive new launches is supported by these cash rich enbloc owners.

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