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Yet another impressive sales launch 😉

 

https://www.edgeprop.sg/property-news/normanton-park-sells-close-one-third-units-launch-weekend

https://www.straitstimes.com/business/property/normanton-park-sells-nearly-a-third-of-1862-units-on-first-day-at-1750-psf

Normanton Park developer sells nearly a third of 1,862 condo units on first day at $1,750 psf

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https://stackedhomes.com/editorial/normanton-park-no-sale-license/#gs.qzi2v3

How Does Normanton Park's Former "No-sale License" Matter To Buyers? 

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(edited)

https://www.businesstimes.com.sg/real-estate/developers-expected-to-continue-milking-positive-market-conditions-to-push-new-projects

Developers expected to continue milking positive market conditions to push new projects this year

(Despite pandemic, the number of private housing units launched for sale in 2020 was only 4.1% fewer than in 2019)

 

https://www.businesstimes.com.sg/real-estate/singapore-government-to-ensure-property-market-is-in-line-with-economic-fundamentals

Singapore government to ensure property market is in line with economic fundamentals

https://www.businesstimes.com.sg/real-estate/property-market-must-remain-stable-so-young-singaporeans-can-own-homes-dpm

Property market must remain stable so young Singaporeans can own homes: DPM

 

https://www.businesstimes.com.sg/real-estate/ideas-for-jurong-lake-district-include-bigger-plots-signature-events

Ideas for Jurong Lake District include bigger plots, signature events

https://www.businesstimes.com.sg/real-estate/orangetee-tie-ceo-thinks-cooling-measures-unlikely-weighs-in-on-hdb-lottery-effect

cooling measures unlikely; weighs in on HDB 'lottery' effect

 

https://www.businesstimes.com.sg/real-estate/reits-jan-16-17-2020

Reits (Jan 16-17, 2020)

 

https://www.straitstimes.com/business/invest/investment-property-sales-set-to-return-to-pre-covid-19-levels

Investment property sales set to return to pre-Covid-19 levels

 

https://www.99.co/blog/singapore/bto-vs-ec-vs-resale-best-investment/

BTO vs Resale vs EC: Which is best for investment? [2021 edition]

 

https://www.propertyguru.com.sg/property-guides/pgf-how-to-upgrade-to-bigger-property-40556

5 Important Considerations When Upgrading to A Bigger Home

 

https://www.edgeprop.sg/property-news/three-freehold-residential-buildings-mount-emily-road-sale-18-mil

Three freehold residential buildings at Mount Emily Road for sale at $18 mil

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Edited by Mercs
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https://www.straitstimes.com/business/economy/when-will-us-interest-rates-rise-fed-chief-says-no-time-soon

When will US interest rates rise? Fed chief says 'no time soon'

 

https://www.businesstimes.com.sg/real-estate/quick-takes-what-is-driving-property-buying-in-singapore

Quick takes: What is driving property buying in Singapore?

(Property buying activity in Singapore has been revving up the past few months amid low-interest rates, pent-up demand and a projected rise in HDB upgraders this year)

 

Low-interest rates, sub-1 per cent mortgages

In November 2020, the market was abuzz about Citibank's aggressive home loan promotion for affluent clients who take a home loan of at least S$800,000.

The promotional floating rate from Citi is just under 1 per cent. But the talk is that for the well-heeled buyers of landed properties, the home loan rate could fall even lower.

This compares with UOB's 1.35 per cent and 1.4 per cent for its fixed and floating home loan rates as of Nov 5, 2020.

 

 

Pandemic hit different parts of Singapore

A DBS report in October 2020 showed that lower-income earners (S$2,999 and below) made up about 49 per cent of DBS customers who suffered a drop in salary. Within this group, about half saw their income fall by over 50 per cent.

The extent of income deterioration in the food and beverage, hospitality and aviation sectors was even more pronounced than in other industries. In the aviation sector, some 40 per cent of workers' income declined in March. This doubled to 80 per cent in May.

However, the private residential market has seen a disconnect with the general economic underperformance, given the recent surge in home sales and property prices.

The private home price index rose 0.8 per cent in the third quarter of 2020 over the preceding three months. The index is now up 0.65 per cent from a year ago, according to data released by the URA on Oct 23, 2020.

 

 

Anticipated lift in HDB upgraders

OrangeTee & Tie chief executive officer Steven Tan expects a surge in upgraders in the coming years, as more owners of new Housing & Development Board flats complete their minimum occupation period between 2020 and 2023 and will likely move to mature public housing estates or private residential properties, he said.

On the other hand, some owner-occupiers and tenants, including expatriates, are downgrading to smaller and more affordable housing due to employment woes and their industries suffering from Covid-19's blow.

 

 

Foreign buyers make splash in Sentosa Cove

Buying activity in Sentosa Cove's bungalow market has been getting busier in the past few months on the back of several demand drivers, including buyers from mainland China. List SIR's analysis of URA Realis caveats database showed that 13 Sentosa bungalows transacted for a total S$195.66 million in 2020, up from just four deals adding up to S$83.39 million in 2019.

 

 

En bloc market revival

Market watchers are anticipating a new en bloc cycle to start in 2021, as unsold residential units under development fell in Q3 2020 to 26,600 units, signalling undersupply in the primary market. The start of the previous en bloc cycle was in Q2 2016, when inventory fell to 23,000 units.

A "conservative" and "calibrated" release of residential supply under the first-half 2021 government land sales programme is also likely to drive interest in the en bloc market, property analysts said to The Business Times in December 2020.

Supply will rise by 17.2 per cent for H1 2021, but analysts were mixed on whether or not the increase in housing supply was significant. However, most agreed that the government's move to raise the number of residential units was in response to healthy demand in the market.

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(edited)

https://www.businesstimes.com.sg/companies-markets/property-developers-facing-better-year-ahead-in-2021

Property developers facing better year ahead in 2021

(A feared slump in the private property market did not quite materialise in 2020; and with the ongoing momentum in the sales of private homes, things may have turned a corner for developers heading into 2021)

 

https://www.businesstimes.com.sg/government-economy/private-home-buyers-undaunted-by-rise-in-unemployment-rate-last-year

Private home buyers undaunted by rise in unemployment rate last year

(Higher unemployment is a symptom of Singapore's worst recession since its independence - but all those dour numbers have not deterred home buyers here)

 

https://www.businesstimes.com.sg/real-estate/singapore-government-keeping-close-watch-on-property-market

Singapore government keeping close watch on property market

(DPM Heng says it is to ensure the market remains stable, and not 'run ahead of the underlying economic fundamentals')

 

https://www.businesstimes.com.sg/companies-markets/brokers-take-dbs-sees-pre-emptive-policy-response-to-curb-higher-property-prices

Broker's take: DBS sees 'pre-emptive' policy response to curb higher property prices

 

https://www.businesstimes.com.sg/government-economy/2021-construction-demand-forecast-to-recover

2021 construction demand forecast to recover

 

https://www.propertyguru.com.sg/property-guides/pgf-same-estate-hdb-flats-40608

Comparing HDB Flats in the Same Estate: How Old Should You Go? (BTO vs Resale)

https://www.propertyguru.com.sg/property-management-news/2021/1/195835/more-homeowners-installing-cctvs-outside-hdb-flats

More Homeowners Installing CCTVs Outside HDB Flats

https://www.straitstimes.com/singapore/housing/residents-complain-of-water-seepage-issues-in-homes-after-heavy-rain-in-recent

Residents complain of water seepage issues in homes after heavy rain in Singapore in recent weeks

 

https://www.99.co/blog/singapore/solved-sentosa-coves-pink-water-triggered-by-heavy-rainfall/

SOLVED: Sentosa Cove’s pink water triggered by heavy rainfall

 

https://stackedhomes.com/editorial/5-cash-flow-positive-properties-ccr/

 

https://www.propwise.sg/non-landed-residential-resale-property-transactions-for-the-week-of-december-29-january-8/

Non-Landed Residential Resale Property Transactions for the Week of December 29 – January 8

 

Edited by Mercs
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20 hours ago, Mercs said:

more CM coming? [sly] Huat Ah :D

 

 

https://www.edgeprop.sg/property-news/singapore-may-act-stall-rising-home-prices-analysts

Singapore may act to stall rising home prices: analysts

https://www.straitstimes.com/business/property/singapore-may-act-to-cool-rising-home-prices-analysts-say

Singapore may act to cool rising home prices, analysts say

 

https://www.99.co/blog/singapore/ministers-statements-on-property-market-fuel-fear-of-new-cooling-measures/

Ministers’ statements on property market fuel fear of new cooling measures

Given the government’s track record of announcing property curbs shortly after issuing warnings about the property market, you can’t help but wonder if the powers-that-be already have something up their sleeve, or a bombshell waiting to be dropped at a moment’s notice.

And herein lies the problem.

 

What if the government’s warnings about property prices is a self-fulfilling prophecy?

The Singapore government positions itself as the guardian of the property market (and property prices) with a reponsibility to calibrate property rules and measures when they deem necessary.

According to their official stance, property prices should be “aligned to economic fundamentals”. If there’s a marked increase in property prices, then it’s because of “euphoria” or “excessive optimism” on the part of developers and/or buyers.

It’s high time that the government recognises it’s own complicity in driving up property prices. What happened in 2017 and 2018 created a strong impression that the government’s public statements on property prices were a reliable precusor to additional cooling measures.

Before you argue that’s fake news, let us clarify that this is an opinion we formed (and stand by) when we spoke to property agents and buyers in the second half of 2019, when property prices began to increase again just one year after ABSD was raised and loan-to-value ratios tightened.

While rising interest rates was deemed to be the key driver of increased buyer activity at that time, we were also told that many buyers were wary of future rounds of cooling measures, seeing that property prices had quickly returned to pre-July 2018 levels.

So, what we witnessed was buyers deciding to commit to property purchases sooner rather than later. In the meantime, overall non-landed private residential prices reflected general sentiment, increasing 2.7% annually in 2020 according to flash estimate data by URA.

 

Fanning the flames of FOMO

Let’s go back to the basics of economics. It’s important to realise that what drives prices of a certain good upwards isn’t what it the good is currently worth, but the anticipation of what its future price would be.

While ministers have every right to offer regular soundbites on the property market, they must realise that Singaporeans will construe their messages as a buy-now-or-pay-more-later signal, especially given what happened in 2017 and 2018, when the government’s statements proved to be a precursor to the implementation of additional cooling measures.

Now, with every message the government or its ministers publicly put out regarding “staying vigilant” and “ensuring that property prices don’t run ahead of fundamentals”, the anticipation of additional property curbs increases. As a result, buyers are increasingly inclined to pay whatever the current price is, for fear of having to pay even more later. This drives prices up and creates a self-fulfilling prophecy.

So, with all due respect, ministers should be more circumspect about what they convey to the public. Policies and measures can be formulated behind closed doors without fueling FOMO (fear of missing out).

If not, then the responsibility of an overheating property market could be theirs to bear this time round.

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https://sbr.com.sg/residential-property/in-focus/residential-property-sales-surged-in-december-2020-high-demand-continu

Residential property sales surged in December 2020; high demand continues

(Increase in sales is a positive note for real estate)

 

https://www.edgeprop.sg/property-news/property-market-should-not-run-ahead-economic-fundamentals-dpm-heng

Property market should not run ahead of economic fundamentals: DPM Heng

 

https://stackedhomes.com/editorial/en-bloc-sales-in-2021/#gs.r409l0

 

 

 

 

 

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Next bets which CM to go for.

My guess: 

1. Downpayment increase to 30% (should include HDBs that are 4rm and larger)

2. 3rd property ABSD increase to 20%, 2nd property ABSD increase to 15%
 

“Cheaper” for everybody!

 

Edited by Showster
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9 minutes ago, Showster said:

Next bets which CM to go for.

My guess: 

1. Downpayment increase to 30% (should include HDBs that are 4rm and larger)

2. 3rd property ABSD increase to 20%, 2nd property ABSD increase to 15%
 

“Cheaper” for everybody!

 

1. Unlikely that the down payment requirement for HDBs will be increased further. After all, HDB are for the masses and any increase on the cash component / CPF component of the down payment will put resale HDBs out of reach of those who have just started working and are looking to buy their 1st HDB home.  Especially so with the uneven K shaped recovery and certain sectors still doing poorly. 

2. This is quite likely. But with the government looking to spur FDI and encourage entry of highly qualified and loaded foreigners to our shores, they may try and delay this for at least a few more quarters. 

But yeah, every time CM are announced, the market stabilizes for a couple of quarters before the upward trend resumes and goes even higher than before. After all, someone has to help the property investors recoup all the ABSD that they had initially paid out. 

 

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Our Govt works very fast de lor. Those who waited a few more quarters / months against my advice always regretted.

This time will also be the same bah.

Good luck!

As for HDB, maybe then it will be divergent for smaller flats (3rm or even 4rm) as compared to larger (5rm and bigger), ECs etc.

Just a guess as HDB solidarity is helping to fuel the next run.

Edited by Showster
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On 12/13/2020 at 7:48 PM, Mercs said:

https://stackedhomes.com/editorial/clavon-review/

 

Yet another impressive sales launch :a-good: 

https://www.edgeprop.sg/property-news/uol-sells-70-units-clavon-launch-weekend-average-1640-psf

UOL sells 70% of units at Clavon on launch weekend at an average of $1,640 psf

 

"Singapore-listed UOL Group and its subsidiary, United Industrial Corp (UIC) announced that about 70% of Clavon has been taken up on the first weekend of launch. This works out to about 442 out of a total of 640 units at the 99-year leasehold condo located at Clementi Avenue 1, which was launched on Dec 12.

Units were sold at an average price of $1,640 psf. For a project with over 600 units, to have sold more than 70% of the total in one day is outstanding, especially following the Controller of Housing’s restrictions on the reissue of options to purchase,”

Clavon has therefore clinched the title of “best-selling project for 2020”.

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https://www.businesstimes.com.sg/companies-markets/did-uol-underprice-its-clavon-launch

Did UOL underprice its Clavon launch?

 

 

https://www.businesstimes.com.sg/real-estate/years-first-public-property-auction-in-singapore-includes-remnant-land

Year's first public property auction in Singapore includes remnant land

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https://www.propertyguru.com.sg/property-guides/racism-racial-discrimination-singapore-property-40716

Let’s Talk About Race and Property Eligibility in Singapore

https://www.propertyguru.com.sg/property-guides/pgf-single-over-35-hdb-bto-vs-resale-flat-40692

Single and Over 35? Should You Buy an HDB BTO or Resale Flat?

https://www.propertyguru.com.sg/property-guides/mature-estate-bto-resale-flat-condo-40705

BTO vs Resale Flat vs Condos in Mature Estates: Which Suits You Best?

https://www.propertyguru.com.sg/property-guides/pgf-how-to-sell-property-timeline-40718

How Fast Can You Realistically Sell Your Property?

 

 

https://sg.news.yahoo.com/sustainable-property-market-important-goal-170702399.html

Sustainable property market is an important goal for Government

https://www.propertyguru.com.sg/property-management-news/2021/1/195871/ministerial-comments-rising-prices-spark-talk-of-additional-property-cooling-measures

Ministerial Comments, Rising Prices Spark Talk Of Additional Property Cooling Measures

 

https://www.propertyguru.com.sg/property-guides/pgf-singapore-property-bull-run-40690

What is a Property Bull Run and Is It Already Happening in Singapore?

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