Mercs: property news & updates

"On July 24, joint venture partners Allgreen Properties and Kerry Properties proceeded with their launch of the 487-unit Pasir Ris 8 integrated development.

A total of 415 units were snapped up, bringing the take-up rate to 85.2% by the close of the day. Prices for the units sold ranged from $1,400 psf to $2,000 psf with an average price of close to $1600 psf"

Newbie26 · July 25, 2021

@Mercs

"The biggest round of price hikes occurred at 8pm, according to agents, where two-bedroom units saw the biggest jump of close to $360,000. A two-bedroom, ninth-floor unit of 710 sq ft with an indicative selling price of $1.145 million ($1,613 psf) at 9am was eventually sold for 31.3% higher at $1.503 million ($2,116 psf) at 10.30pm."

https://www.edgeprop.sg/property-news/pasir-ris-8-behind-price-increases

Jump of $360k of same unit in a day

Early bird catches the worm!

A bit of euphoria or worth the price??

Mercs · July 25, 2021

Really very HOT ... first time I see price can UP 31.3% within the same day launch 😛

Pasir Ris now $2,116 psf 😉 altogether now .... HUAT AH!!!!!!!!

https://www.edgeprop.sg/property-news/pasir-ris-8-behind-price-increases

Pasir Ris 8: Behind the price increases

"Prices had started at about $1,400 psf on the morning of July 24. The developer is said to have increased prices six times throughout the day. The biggest round of price hikes occurred at 8pm, according to agents, where two-bedroom units saw the biggest jump of close to $360,000. A two-bedroom, ninth-floor unit of 710 sq ft with an indicative selling price of $1.145 million ($1,613 psf) at 9am was eventually sold for 31.3% higher at $1.503 million ($2,116 psf) at 10.30pm"

Mercs · July 25, 2021

8 minutes ago, Newbie26 said:

@Mercs

"The biggest round of price hikes occurred at 8pm, according to agents, where two-bedroom units saw the biggest jump of close to $360,000. A two-bedroom, ninth-floor unit of 710 sq ft with an indicative selling price of $1.145 million ($1,613 psf) at 9am was eventually sold for 31.3% higher at $1.503 million ($2,116 psf) at 10.30pm."

https://www.edgeprop.sg/property-news/pasir-ris-8-behind-price-increases

Jump of $360k of same unit in a day

Early bird catches the worm!

A bit of euphoria or worth the price??

Haha, u post faster than me 😛

As usual early buyers morning bought 'low' around $1400psf huat, within same day instant price appreciation.

Early bird - as mentioned often ... 'good to be in as early as possible'

Worth the price? - will know upon TOP when buyers start selling cash in profit$$$$$$$$ 😉

Dp26 · July 27, 2021

Singaporeans got an insatiable appetite for properties.

morning buy afternoon sell still can make money

Newbie26 · July 27, 2021

8 hours ago, Dp26 said:

Singaporeans got an insatiable appetite for properties.

morning buy afternoon sell still can make money

in the hey days, people sell queue no😄

Old-driver · July 27, 2021

On 7/25/2021 at 10:04 PM, Newbie26 said:

@Mercs

"The biggest round of price hikes occurred at 8pm, according to agents, where two-bedroom units saw the biggest jump of close to $360,000. A two-bedroom, ninth-floor unit of 710 sq ft with an indicative selling price of $1.145 million ($1,613 psf) at 9am was eventually sold for 31.3% higher at $1.503 million ($2,116 psf) at 10.30pm."

https://www.edgeprop.sg/property-news/pasir-ris-8-behind-price-increases

Jump of $360k of same unit in a day

Early bird catches the worm!

A bit of euphoria or worth the price??

If there's a CM, we know what triggered this and who to blame 😊

Mercs · July 28, 2021

https://www.edgeprop.sg/property-news/residences-338a-sees-new-high-2011-psf

Residences at 338A sees new high of $2,011 psf

https://www.edgeprop.sg/property-news/unit-three-three-robin-reaps-482-mil-profit

Unit at Three Three Robin reaps $4.82 mil profit

https://www.edgeprop.sg/property-news/coronation-road-west-gcb-sale-private-treaty-price-above-50-million

Coronation Road West GCB for sale by private treaty, price above $50 million

https://www.businesstimes.com.sg/real-estate/pasir-ris-8s-multiple-price-hikes-of-up-to-s2000-psf-may-raise-expectations-for-suburban

Pasir Ris 8's multiple price hikes of up to S$2,000 psf may raise expectations for suburban condo pricing

https://www.99.co/singapore/insider/ocr-private-developments-pasir-ris-8-lentor-central-bid-heat-up-cross-island-and-thomson-east-coast-mrt-line/

OCR private developments like Pasir Ris 8 & Lentor Central bid heat up thanks to Cross-Island and TEL MRT linkage

https://sbr.com.sg/residential-property/news/luxury-home-sales-break-11-year-sales-record-amidst-heightened-alert

Luxury home sales break 11-year sales record amidst heightened alert

(A total of 811 condos were sold in the last quarter, the highest since Q4 2010)

https://sbr.com.sg/residential-property/news/million-dollar-flat-transactions-reach-record-high-july-2021

Million-dollar flat transactions reach record high by July 2021

(A total of 120 flats sold for more than $1m as of the first seven months of the year)

https://www.straitstimes.com/singapore/housing/almost-50-more-bto-projects-launched-in-mature-estates-in-2020-than-in-2017-to

Almost 50% more BTO projects launched in mature estates in 2020 than in 2017 to cater to demand: HDB

https://www.straitstimes.com/business/property/flynn-park-in-pasir-panjang-tries-for-en-bloc-sale-again

Flynn Park in Pasir Panjang seeks to go en bloc again

https://www.propertyguru.com.sg/property-management-news/2021/7/200026/strong-demand-for-new-flats-in-mature-estates-may-boost-resale-prices

Strong demand for new flats in mature estates may boost resale prices

https://www.propertyguru.com.sg/property-management-news/2021/7/200052/higher-construction-costs-not-to-be-passed-down-to-flat-buyers

Higher construction costs not to be passed down to flat buyers

https://stackedhomes.com/editorial/property-market-predictions-in-2021-have-cooling-measures-been-effective-a-savills-research-recap/

https://stackedhomes.com/editorial/5-easy-methods-to-help-set-your-selling-price-when-transaction-volumes-are-low/

https://stackedhomes.com/editorial/units-of-the-week-issue-73/

https://www.homeanddecor.com.sg/gallery/house-tour-a-good-class-bungalow-thats-built-around-mature-trees-on-its-land/

House Tour: A Good Class Bungalow that’s built around mature trees on its land

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

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

https://www.youtube.com/watch?v=FyAUBJyL1js

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

Mercs · July 30, 2021

https://sbr.com.sg/residential-property/news/safety-measures-cooled-residential-property-market-analyst

Safety measures cooled residential property market: analyst

https://www.businesstimes.com.sg/opinion/pasir-ris-8-frenzy-raises-policy-risks-for-developers-even-as-they-eye-richer-margins

Pasir Ris 8 frenzy raises policy risks for developers even as they eye richer margins

https://www.businesstimes.com.sg/real-estate/property-agents-tap-buyers-fomo-claim-price-hikes-at-slew-of-condo-ec-projects

Property agents tap buyers' FOMO, claim price hikes at slew of condo, EC projects

https://www.straitstimes.com/business/property/ura-awards-tender-for-plot-at-lentor-central-to-guocoland-to-be-developed-for

URA awards tender for plot at Lentor Central to GuocoLand; to be developed for mixed use

https://www.straitstimes.com/singapore/housing/housing-project-in-dover-forest-to-meet-demand-for-homes-in-the-area

Housing project in Dover Forest to meet demand for homes in the area

https://www.edgeprop.sg/property-news/success-pasir-ris-8-spurs-repricing-other-developers’-projects

Success of Pasir Ris 8 spurs repricing at other developers’ projects

https://www.edgeprop.sg/property-news/residential-transactions-contracts-dated-july-13-july-19-done-deals

Residential transactions with contracts dated July 13 to July 19 [DONE DEALS]

https://www.99.co/singapore/insider/tiktok-ceo-gcb-good-class-bungalow-official-technology-gaming-entrepreneurs-buying/

TikTok CEO buys S$86m GCB – it’s official, tech and gaming-related entrepreneurs are buying Good Class Bungalows

https://www.99.co/singapore/insider/price-psf-increase-mrt-resale-flat-condo-q1-q2-2021/

Which areas along the MRT have the highest price increase in Q2 compared to Q1 2021? (Infographic included)

https://stackedhomes.com/editorial/my-home-renovation-journey/#gs.7q9u5l

https://www.propertyguru.com.sg/property-guides/cheapest-freehold-condo-under-one-million-52963

Ultimate List of 56 Cheapest Freehold Condos in Singapore Under 1 Million (2021)

https://www.propertyguru.com.sg/property-guides/singapore-hdb-resale-flat-prices-28448

Singapore HDB Resale Flat Price Guide (2021)

https://www.propertyguru.com.sg/property-guides/property-market-index-q3-2021-52795

Singapore Property Market Index Q3 2021

https://www.youtube.com/watch?v=bb8YAZ9jeig

Mercs · July 30, 2021

Huat ah!

https://www.straitstimes.com/singapore/housing/five-room-hdb-dbss-flat-in-bishan-sold-for-record-1295-million-three-weeks-after

Five-room Bishan HDB flat sold for record $1.295 million

"A five-room Housing Board flat in Bishan has changed hands for a record $1.295 million this month, smashing the previous high of $1.268 million lodged just last month.

The 120 sq m unit at Block 273A Bishan Street 24 in a Design, Build and Sell Scheme (DBSS) project called Natura Loft was sold just three weeks after it was put up for sale.

The unit, which is in a 40-storey block, is now the most expensive HDB resale unit to change hands.

The sellers had set a bottom line of $1.27 million when they approached him and would not consider any offers below that amount.

They just needed to host five groups of potential buyers and the sellers got an offer in three weeks.

While the initial offer of $1.25 million was deemed "too low" by the sellers, after a few rounds of negotiations, the offered price gradually crept up to $1.28 million before landing on the final $1.295 million figure.

The sellers are a Singaporean Chinese couple in their late 50s and have one child, and are now moving to a private property."

https://www.99.co/singapore/insider/million-dollar-hdb-5-room-dbss-bishan-flat-sold/

Record broken again, this time for a 5-room DBSS Bishan flat sold at S$1.295M

Dp26 · July 31, 2021

Jin huatz

Mercs · August 2, 2021

https://www.edgeprop.sg/property-news/what-housing-stock-needed-maintain-stability-27000-units-says-huttons

What is the housing stock needed to maintain stability? 27,000 units

Supply has not caught up with demand

The strong new home sales in the first six months of 2021 have seen the unsold inventory in the market dwindling to a record low of 19,409 units as of 2Q2021. In 1H2021, developers sold 6,459 units or 1,077 units per month, the highest half-yearly sales since 2013.

Breaking down the unsold inventory by market segment, there were 6,861 unsold units in the Core Central Region (CCR), 6,708 unsold units in the Rest of Central Region (RCR), and 5,840 unsold units in the Outside Central Region (OCR).

The question is: How long will it take to sell out every single unit in each market segment?

If the annual new home sales rate from July 2020 to June 2021 is assumed to be the sales rate for the next 12 months, it will take 1.5 years to sell out the unsold inventory of 19,409 units. The CCR has seen a strong pick-up in demand since 2019 and needs only 3.5 years to clear out the existing inventory. The situation is dire in the RCR and OCR where it only needs 1.2 years to sell out all.

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