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Mercs: property news & updates

Mercs

By Mercs,
in Property Buzz

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Old-driver

Old-driver

5th Gear
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

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Mercs

Mercs

Hypersonic
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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.

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Mercs

Mercs

Hypersonic
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Dun play play ... long queue not for to go buy face mask hor :D 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."

 

e726d6-CROWD-AT-THE-M-LAUNC-2-AGTS.jpeg

96a23d-CROWD-AT-LAUNCH-THE-M-EDITED.png

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car50

car50

Twincharged
1 hour ago, Mercs said:

Dun play play ... long queue not for to go buy face mask hor :D 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."

 

e726d6-CROWD-AT-THE-M-LAUNC-2-AGTS.jpeg

96a23d-CROWD-AT-LAUNCH-THE-M-EDITED.png

OMG, that queue!

 

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Spring

Spring

Moderator
13 hours ago, Mercs said:

Dun play play ... long queue not for to go buy face mask hor :D 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[:(]

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Showster

Showster

Twincharged
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.

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Mercs

Mercs

Hypersonic
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8 hours 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[:(]

Agree. Some reasons I've mentioed previously- CMs since 2009 many sideline waiting with big warchest, many enbloc billions coming back to the property market etc.

Some folks only want brand new,  for me as always ... ' go resale for better value'  😉 

On 2/1/2020 at 11:56 PM, Mercs said:

Agree, diff scenario then and now with many contributing factors, one main being no CM then.

With still ongoing CMs (stable prices) TDSR/SSD (no firesales), those hoping to see big drop in property prices to be disappointed.

As mentioned prior, we have this CM trump card to reduce/remove as when required.

Strong local demand (more upgraders reaching MOP),  foreign investors (safe haven/ global uncertainty) influx of FTs (ageing population) etc ... will continue to ensure property price uptrend in the coming years.

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