Mercs: property news & updates

[Mercs]

https://www.edgeprop.sg/property-news/survey-property-seekers-still-keen-despite-covid-19-1

Survey: Property seekers still keen despite COVID-19

[car50]

3 hours ago, Mercs said:

https://www.businesstimes.com.sg/companies-markets/bukit-sembawang-sells-nearly-two-thirds-of-homes-at-luxus-hills-final-phase

Bukit Sembawang sells nearly two-thirds of homes at Luxus Hills' final phase

 

"REAL estate developer Bukit Sembawang Estates Limited on Friday said it has sold 25 out of the 39 units at the Luxus Hills (Contemporary Collection) following private previews.

Prices started from S$3.3 million for inter-terraces. The average selling price was S$2,060 per square foot."

They built solid landed homes

Strong track record especially in seletar area

[Mercs]

9 hours ago, car50 said:

They built solid landed homes

Strong track record especially in seletar area

I believe most are own stay buyers with some being cash rich enbloc millionaires (sold OLD condo upgrade NEW landed) 👍

In expensive SG, with the way psf prices are going for 99LH, if have the budget FH landed is a no brainer, to live in/kept for generations (provided ahgong land acquisition/developers enbloc dun get to you first) 😛

On 2/19/2020 at 11:58 PM, Mercs said:

In general most would say FH superior due to tenure no lease decay, but its also at a higher cost (psf), less superior location to LH (near to mrt or even integrated - rental factor lower quantum higher yield better location easier to rent/sell)

To me for condo FH/LH not much diff both pro and con diff strokes diff folks. If want FH then go for landed,  in land scarce expensive SG land is precious and FH landed rare. As you mention ... "the best properties are to be kept and never to be sold" 😉 😛

 

[Mercs]

Reits (22-23 February, 2020)

[Wt_know]

76% said cheong ah ... MTL !

[Showster]

1 hour ago, Wt_know said:

76% said cheong ah ... MTL !

Of cos cheong given the previous experience of what 2009 currency devaluation did to prices. 

Now we have two dozens more CMs holding prices, a milder virus, super pent up demand accumulated over 10 years, and limited stocks after this round. 

Don't cheong wait for prices to cheong first? 

Edited February 22, 2020 by Showster

[Enye]

1 hour ago, Wt_know said:

76% said cheong ah ... MTL !

wah look at the big caveat, if the developers provide special promotions...

if any developer give me a special promotion of 80% discount, i will also commit to a purchase 

🤣

[Old-driver]

2 minutes ago, Enye said:

wah look at the big caveat, if the developers provide special promotions...

if any developer give me a special promotion of 80% discount, i will also commit to a purchase 

🤣

20% you tao chio already... still ask for 80 wahaha!

[Wt_know]

8 minutes ago, Enye said:

wah look at the big caveat, if the developers provide special promotions...

if any developer give me a special promotion of 80% discount, i will also commit to a purchase 

🤣

even special promo of $100K (10% of $1M) from a super “inflated” listed price means already priced in la

just like buying a car $20K below listed price feel sibei shiok! lol

Edited February 22, 2020 by Wt_know

[Enye]

13 minutes ago, Old-driver said:

20% you tao chio already... still ask for 80 wahaha!

wah boss... 20% not enough lah

maybe this period, they already give 10% comm to agents liao

the agent serving you will lure you with his own special 8% discount

furthermore the developer had already marked up another 20% on price then offer you 10% discount

end up everyone think they got close to 20% discount ... can commit liao 

tio pian...

😅

[Old-driver]

2 minutes ago, Enye said:

wah boss... 20% not enough lah

maybe this period, they already give 10% comm to agents liao

the agent serving you will lure you with his own special 8% discount

furthermore the developer had already marked up another 20% on price then offer you 10% discount

end up everyone think they got close to 20% discount ... can commit liao 

tio pian...

😅

ok boss. if you for kangtao for 40% pm me please.... i give you 5% comm... LOL

[Mercs]

https://www.asiaone.com/money/why-should-i-care-property-analysts-take-budget-2020

WHAT DOES YOUR LATEST RESEARCH MEAN FOR PROPERTY BUYERS AND SELLERS IN THE MARKET TODAY?

The year 2020 began with the unforeseen macro-level impact of COVID-19 but we can draw a parallel to the SARS outbreak 17 years ago. The impact of SARS in Singapore was first felt in November 2002, and conditions only stabilised by May 2004. 

During this period, there was no significant property price correction — overall private home prices only softened by 2.3 per cent, based on the URA residential price index. Furthermore, the total sales volume in primary (new launches) and secondary (resale) markets staged a steep recovery shortly thereafter.

Likewise, while the overall impact is still being assessed each day — given the proactive measures by the government and the learnings from the SARS outbreak — the prices of residential real estate are unlikely to significantly drop and Singaporeans will soon resume property buying/selling after COVID-19 begins to subside.

The Property Market Index Q1 2020 also noted that new launches this year that are located within walking distance of an existing or future MRT station will continue to perform above market expectations. 

With new MRT stations on the Thomson-East Coast Line (TEL) becoming operational from January 2020, we expect to see an upswing in the asking prices for resale private residential properties within walking distance from these stations. 

District 25 (Woodlands and Admiralty) and 26 (Mandai, Upper Thomson) will benefit from new TEL stations and are two of the top five districts in the past quarter with the highest percentage increase in median per square foot asking price.

 

SHOULD BUYERS TAKE ADVANTAGE OF THE CURRENT MACROECONOMIC HEADWINDS GIVEN THAT PRICES ARE EXPECTED TO TAPER? 

Despite the looming unsold private housing stock, prices are expected to hold steady as there is little leeway for adjustment by developers who paid the high breakeven price for land purchased before the July 2018 cooling measures. 

To use an analogy, if the cost of flour had gone up, it would impact the price of bread. 

While there are concerns regarding demand in the short term, we are confident that property prices will remain stable in 2020 (possibly a modest 2 to 4 per cent price growth) and there will be a gradual absorption of supply over the next five years. 

That said, buyers should first and foremost consider their needs in their property search and be prudent in their buying decision — calculate their finances and have contingency plans to service mortgage loans in the event of unemployment or an emergency.

[Mercs]

First day sales ongoing ... selling like hotcakes!😉

[Mercs]

Dun play play ... long queue not for to go buy face mask hor lol 😛 huat ah!

https://www.businesstimes.com.sg/companies-markets/wing-tai-asia-sells-70-of-new-condo-the-m-over-weekend

Wing Tai Asia sells 70% of new condo The M over weekend

 

https://www.edgeprop.sg/property-news/m-moves-past-virus-worries-70-units-sold

The M moves past virus worries with 70% of units sold

 

"Wing Tai Asia announced that more than 360 units (70%) of the 522-unit condominium project, The M on Middle Road, were sold over the weekend of Feb 22-23. The average price achieved for units sold was $2,450 psf."

 

[car50]

1 hour ago, Mercs said:

Dun play play ... long queue not for to go buy face mask hor lol 😛 huat ah!

https://www.businesstimes.com.sg/companies-markets/wing-tai-asia-sells-70-of-new-condo-the-m-over-weekend

Wing Tai Asia sells 70% of new condo The M over weekend

 

https://www.edgeprop.sg/property-news/m-moves-past-virus-worries-70-units-sold

The M moves past virus worries with 70% of units sold

 

"Wing Tai Asia announced that more than 360 units (70%) of the 522-unit condominium project, The M on Middle Road, were sold over the weekend of Feb 22-23. The average price achieved for units sold was $2,450 psf."

 

OMG, that queue!

 

[Spring]

13 hours ago, Mercs said:

Dun play play ... long queue not for to go buy face mask hor lol 😛 huat ah!

https://www.businesstimes.com.sg/companies-markets/wing-tai-asia-sells-70-of-new-condo-the-m-over-weekend

Wing Tai Asia sells 70% of new condo The M over weekend

 

https://www.edgeprop.sg/property-news/m-moves-past-virus-worries-70-units-sold

The M moves past virus worries with 70% of units sold

 

"Wing Tai Asia announced that more than 360 units (70%) of the 522-unit condominium project, The M on Middle Road, were sold over the weekend of Feb 22-23. The average price achieved for units sold was $2,450 psf."

 

 

 

This kind of pricing for 99 yr leasehold condo at this point of time (virus situation and not rosy economy) is astounding to say the least. Either these buyers are smart that they see a good opportunity or I'm stupid as I don't see any value in this! I think likely the latter as I always say no value but have consistently been proven wrong

[Showster]

11 minutes ago, Spring said:

This kind of pricing for 99 yr leasehold condo at this point of time (virus situation and not rosy economy) is astounding to say the least. Either these buyers are smart that they see a good opportunity or I'm stupid as I don't see any value in this! I think likely the latter as I always say no value but have consistently been proven wrong

Don't beat oneself down. The realisation always only come after a decade or dozen years of staring at the market.

The dozens of CMs has just pent up a huge pool of potential buyers. Plus the cost-push inflation is just going to make the pricing steeper and steeper.

This is considered very friendly pricing considering the future value of money.

[Mercs]

20 hours ago, car50 said:

OMG, that queue!

 

Haha, strong pent-up demand 😉