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https://www.tnp.sg/news/singapore/property-agent-who-misled-couple-loses-lawsuit

Property agent who misled couple loses lawsuit

 

(A property agent who misled a married couple into handing her a $316,000 cheque to demonstrate interest in a Balmoral Road apartment, and failed to disclose she was the owner, has lost her lawsuit to claim the money.)

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https://www.propertyguru.com.sg/property-management-news/2019/9/183079/sc-global-in-a-first-of-its-kind-collaboration-with-k11-artus

SC Global In A First-Of-Its-Kind Collaboration With K11 ARTUS

(The luxury condominium project – which is a collaboration between SC Global, New World Development and Far East Consortium – offers 192 residential units in one- to three-bedroom configuration, with most of the units having private lift access. Unit sizes range from 700 sq ft to 2,078 sq ft.)

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https://www.edgeprop.sg/property-news/watch-f1-your-penthouse-sail

Watch F1 from your penthouse at The Sail

Two duplex penthouses at Marina Bay Tower at the landmark residential development, The Sail, are on the market at $17 million and $20 million respectively. Such penthouses are rarely available on the market, with the last transaction having taken place six years ago.

675829-EdgeProp-Singapore-BLD-THE-SAIL-DUPLEX-PENTHOUSE-SEP2019-01-SIC.jpeg

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14 minutes ago, Mercs said:

https://www.straitstimes.com/business/property/rise-in-singapore-private-home-prices-in-q2-do-not-reflect-true-state-of-market

Developers concerned about lacklustre sales of new private homes: Redas president

https://www.edgeprop.sg/property-news/redas-increase-private-residential-prices-not-reflective-market-conditions

Redas: Increase in private residential prices not reflective of market conditions

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https://www.businesstimes.com.sg/real-estate/sales-of-new-private-homes-holding-up-in-august

Sales of new private homes holding up in August

(Over 1,000 units sold as changing buyer demographics over the years may be blunting the impact of inauspicious month)

The 1,468-unit Parc Clematis is the top selling private residential project, with 316 units snapped up in August (as at Sept 12). Other projects launched earlier that continued to bring in a steady stream of buyers during the month include The Florence Residences (122 units), Treasure at Tampines (93 units), Parc Botannia (60 units), Parc Esta (47 units), and executive condominium (EC) Piermont Grand (44 units).

Based on the Urban Redevelopment Authority's (URA) Realis data (as at Sept 12), developers moved 1,122 new homes in August, excluding ECs which are a private-public hybrid. Including ECs, developers sold 1,167 units. 

 

"Despite the global economic uncertainties and the Chinese lunar seventh month, over 1,000 new homes were sold last month. Last month's sales volume is considered strong as it is almost on a par with July's. The month of July usually records higher than average monthly sales in a year, and the sales volume for July 2019 was the highest for this year."

In July this year, developers moved 1,178 private homes excluding EC units, and 1,556 units, including ECs. In August last year, only 617 private homes were sold.

"Most developers avoid the lunar seventh month for project launches and as a result, sales volumes tend to be lower. However, 2019 could be the exception. The lunar seventh month ended on Aug 29, giving developers the flexibility to decide whether they should launch on the last weekend of August."

both Parc Clematis and Luxus Hills' Signature Collection were launched on that weekend, to "spectacular results".

With developers scheduling launches after the Hungry Ghost month period, "the bulk of the new sales numbers is likely to be reflected in September"

 

Looking ahead, falling interest rates as well as Singapore's status as a safe haven for long-term investments could keep buying sentiment positive, especially amid the ongoing US- China trade war and other uncertainties which threaten to cast a pall on the global economy.

"Over the long term, Singapore's residential assets will continue to be perceived as safe assets and attract investors with at least a five-year investment horizon."

projects the take-up tally for 2019 to surpass the 8,795 units scooped up in 2018.

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13 hours ago, Mercs said:

https://www.straitstimes.com/business/property/rise-in-singapore-private-home-prices-in-q2-do-not-reflect-true-state-of-market

Developers concerned about lacklustre sales of new private homes: Redas president

2020 and 2021 are likely to be very slow years for new private properties as the number of cash-rich enbloc owners dwindles and the trade war continues.

Some developers are likely to be hit by the 25% ABSD if their units are not sold within the 5-year from the land acquisition date.

 

Said Mr Chia: "Assuming the present rate of take-up continues, we will see a total sales volume of about 8,000+ units for the whole of 2019. Based on this take-up rate and barring any unforeseen circumstances, we would require four to five years for the market to absorb the estimated 43,000 units available for sale."

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(edited)
11 hours ago, awhtc said:

2020 and 2021 are likely to be very slow years for new private properties as the number of cash-rich enbloc owners dwindles and the trade war continues.

Some developers are likely to be hit by the 25% ABSD if their units are not sold within the 5-year from the land acquisition date.

 

Work both ways, if demand slows ... ah gong may reduce/remove some CMs then many will chiong again- (read sustainable property market)

Last 'downturn' 2013-17 ...  its been shown that developers would much rather pay ABSD hold units then to lower prices for quick sales.

As mentioned prior, CMs since 2009 many with big warchest cash rich on the sideline, so not just the recent enbloc rich.

Next couple years if trade war/ global economy worsen,  property demand/pricss will still to be supported via the cash rich/enbloc rich/ foreign investors park 'safe' funds here etc.

In the longer term after 5 years and up,  when the current units supply get absorbed and with reduced GLS, may see another round of enbloc fever.

 
Quote

 

2020 and 2021 are likely to be very slow years for new private properties as the number of cash-rich enbloc owners dwindles and the trade war continues.

Some developers are likely to be hit by the 25% ABSD if their units are not sold within the 5-year from the land acquisition date.

 

On 9/4/2019 at 5:42 PM, Mercs said:

Private home completions to fall to five-year-low in 2019

Chart_090319_1.jpg.a8eb39e289f35dc53b830ddbc25efd71.jpg

Edited by Mercs
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(edited)

https://www.edgeprop.sg/property-news/meyer-mansion-tops-sales-launch-weekend

Meyer Mansion tops sales on launch weekend

Quote

Three projects were launched over the weekend of September 14-15, namely Meyer Mansion on Meyer Road in prime District 15; The Antares on Mattar Road, near Aljunied Road and Macpherson Road in District 14; and Uptown @ Farrer, located off Race Course Road and Serangoon Road in District 8.

 

21 units at  Meyer Mansion were sold at an average price of $2,747 psf. Some units even crossed the 3,000 psf.
In fact, the one- and four-bedroom units were the most popular among buyers. The highest psf achieved was for a one-bedroom unit that fetched $3,185 psf. Meanwhile, four-bedroom units were sold for as high as $4.8 million ($2,781 psf).
 
18 units were sold at The Antares over the same weekend at an average price of $1,760 psf. 
 
15 units were sold at Uptown@Farrer where prices ranged from $1,800 to $1,900 psf.
Edited by Mercs
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