Newbie26 Hypersonic May 6, 2022 Share May 6, 2022 @Mercs this one will do very well at launch 2000pfs is decent pricing in current market there are several bigger empty plots of land in vicinity ↡ Advertisement 4 Link to post Share on other sites More sharing options...
13177 Supersonic May 6, 2022 Share May 6, 2022 11 minutes ago, Newbie26 said: @Mercs this one will do very well at launch 2000pfs is decent pricing in current market there are several bigger empty plots of land in vicinity This place good location and nearby farrer park swimming pool area already announced will build BTO. 2 Link to post Share on other sites More sharing options...
Mercs Hypersonic May 7, 2022 Author Share May 7, 2022 23 hours ago, Newbie26 said: @Mercs this one will do very well at launch 2000pfs is decent pricing in current market there are several bigger empty plots of land in vicinity Agreed. As mentioned prior, developer low balance unsold stock, those looking to invest into property currently dun really have much 'good' choices left, either wait for future new launches for first selection or those leftover units from existing launches. This one is mixed use and integrated to mrt in a rather 'good' location, whether the entry price point at low 2kpsf is good value diff strokes diff folks, fact is for PTE now the norm mostly no 2k psf no talk, even EC also reach 1.3k psf already- https://stackedhomes.com/editorial/is-2000-psf-going-to-be-the-new-norm-for-new-launches-in-2022-and-beyond/#gs.z81jak On the ground info - very HOT demand units flying off the shelves with mostly small units 1 and 2 bedder sold out by noon (investor play), first day launch already above 70% sold at avg 2.1-2.3 k psf with some price increase thru the day, all I can say is at land price of only 1,129psf developer very huat - https://stackedhomes.com/editorial/piccadilly-grand-review/#gs.z81m3m *STARTING FROM Under $2100 PSF* 1 br -fr *$1,084,000 ( $2190psf*) 2 br - fr *$1,430,000 ( $2292psf*) 2 br D - fr *$1,723,000 ( $2288psf*) 3 br - fr *$2,327,000 ( $2080psf*) 4 br - fr *$3,390,000 ( $2233psf*) 4 br D - fr *$3,632,000 ( $2177psf*) As mentioned often - 'SG property, good to be in as early as possible', with construct/manpower/material costs all gone up, the longer the wait, just expect to pay even higher forward 😉 5 Link to post Share on other sites More sharing options...
Newbie26 Hypersonic May 8, 2022 Share May 8, 2022 10 hours ago, Mercs said: Agreed. As mentioned prior, developer low balance unsold stock, those looking to invest into property currently dun really have much 'good' choices left, either wait for future new launches for first selection or those leftover units from existing launches. This one is mixed use and integrated to mrt in a rather 'good' location, whether the entry price point at low 2kpsf is good value diff strokes diff folks, fact is for PTE now the norm mostly no 2k psf no talk, even EC also reach 1.3k psf already- https://stackedhomes.com/editorial/is-2000-psf-going-to-be-the-new-norm-for-new-launches-in-2022-and-beyond/#gs.z81jak On the ground info - very HOT demand units flying off the shelves with mostly small units 1 and 2 bedder sold out by noon (investor play), first day launch already above 70% sold at avg 2.1-2.3 k psf with some price increase thru the day, all I can say is at land price of only 1,129psf developer very huat - https://stackedhomes.com/editorial/piccadilly-grand-review/#gs.z81m3m *STARTING FROM Under $2100 PSF* 1 br -fr *$1,084,000 ( $2190psf*) 2 br - fr *$1,430,000 ( $2292psf*) 2 br D - fr *$1,723,000 ( $2288psf*) 3 br - fr *$2,327,000 ( $2080psf*) 4 br - fr *$3,390,000 ( $2233psf*) 4 br D - fr *$3,632,000 ( $2177psf*) As mentioned often - 'SG property, good to be in as early as possible', with construct/manpower/material costs all gone up, the longer the wait, just expect to pay even higher forward 😉 70% sales on first day not surprising avg 2.1-2.3 k psf and upwards is a little surprising To profit in 3 years, would need at least 2.3-2.5k pfs 3 Link to post Share on other sites More sharing options...
13177 Supersonic May 8, 2022 Share May 8, 2022 19 minutes ago, Newbie26 said: 70% sales on first day not surprising avg 2.1-2.3 k psf and upwards is a little surprising To profit in 3 years, would need at least 2.3-2.5k pfs So many rich people in sg? Buying private condo like buying fish in market?! 1 Link to post Share on other sites More sharing options...
Alfc 5th Gear May 8, 2022 Share May 8, 2022 1 hour ago, 13177 said: So many rich people in sg? Buying private condo like buying fish in market?! Property is seen as a hedge against inflation. So the higher the inflation = the better for property = the higher the price appreciation? 1 Link to post Share on other sites More sharing options...
Mercs Hypersonic May 8, 2022 Author Share May 8, 2022 10 hours ago, Newbie26 said: 70% sales on first day not surprising avg 2.1-2.3 k psf and upwards is a little surprising To profit in 3 years, would need at least 2.3-2.5k pfs Surprise! 😛 yet another impressive sales launch 😉 https://www.edgeprop.sg/property-news/piccadilly-grand-sells-77-units-launch-weekend-sets-new-benchmark-2150-psf Piccadilly Grand sells 77% of units on launch weekend, sets new benchmark at $2,150 psf Piccadilly Grand at Farrer Park, sold 315 units at the close of May 8. That reflects a take-up rate of 77% for the 407-unit project. Units sold ranged from $1.06 million ($2,190 psf) for a one-bedroom unit to $3.676 million ($1,798 psf) for a 2,045 sq ft, five-bedroom premium unit. The project achieved average prices of about $2,150 psf, which has set a new benchmark for District 8. According to a joint press release by CDL and MCL Land on May 8, locals make up 90% of the buyers while the remaining 10% of buyers are Permanent Residents and foreigners from China, India, Malaysia, the USA, Hong Kong, and Indonesia. Priority was given to multiple-unit purchasers, namely immediate family members who want to buy units together, for instance siblings, parents or grandparents buying together with their children or grandchildren. A total of 48 units were taken up by these multiple-unit purchasers on the morning of May 7, before balloting began for the remaining units in the afternoon. 6 Link to post Share on other sites More sharing options...
Newbie26 Hypersonic May 8, 2022 Share May 8, 2022 1 hour ago, Mercs said: Surprise! 😛 yet another impressive sales launch 😉 https://www.edgeprop.sg/property-news/piccadilly-grand-sells-77-units-launch-weekend-sets-new-benchmark-2150-psf Piccadilly Grand sells 77% of units on launch weekend, sets new benchmark at $2,150 psf Piccadilly Grand at Farrer Park, sold 315 units at the close of May 8. That reflects a take-up rate of 77% for the 407-unit project. Units sold ranged from $1.06 million ($2,190 psf) for a one-bedroom unit to $3.676 million ($1,798 psf) for a 2,045 sq ft, five-bedroom premium unit. The project achieved average prices of about $2,150 psf, which has set a new benchmark for District 8. According to a joint press release by CDL and MCL Land on May 8, locals make up 90% of the buyers while the remaining 10% of buyers are Permanent Residents and foreigners from China, India, Malaysia, the USA, Hong Kong, and Indonesia. Priority was given to multiple-unit purchasers, namely immediate family members who want to buy units together, for instance siblings, parents or grandparents buying together with their children or grandchildren. A total of 48 units were taken up by these multiple-unit purchasers on the morning of May 7, before balloting began for the remaining units in the afternoon. "average prices of about $2,150 psf, which has set a new benchmark for District 8." ABSD and further interest rate hikes not much impact for popular launches Augurs well for coming launches in hot areas. 2 Link to post Share on other sites More sharing options...
Mercs Hypersonic May 8, 2022 Author Share May 8, 2022 1 hour ago, Newbie26 said: "average prices of about $2,150 psf, which has set a new benchmark for District 8." ABSD and further interest rate hikes not much impact for popular launches Augurs well for coming launches in hot areas. As mentioned prior, the Dec 2021 CM ABSD increase - is 'conservative' and outcome to be 'underwhelming'. Property prices to keep rising, take up demand stronger than ever, as evident with this latest launch even at new benchmark prices Also mentioned long time ago, ABSD just like the COE, to be here to stay 'CMs since 2009 .....' the longer the wait, the higher to pay, ahgong huat! Int rate hike - TDSR 3.5%, gotta go above that to really see some impact, provided those not already locked in at lower fixed rates 😉 https://www.mof.gov.sg/news-publications/parliamentary-replies/annual-breakdown-amounts-of-additional-buyer-s-stamp-duty-collected-from-singaporeans-buying-second-third-and-subsequent-residential-properties-respectively-over-last-five-years Annual Breakdown Amounts of Additional Buyer's Stamp Duty Collected from Singaporeans Buying Second, Third and Subsequent Residential Properties Respectively over Last Five Years From 2017 to 2021, the average annual amount of Additional Buyer’s Stamp Duty (ABSD) collected from SCs buying a second residential property was around $244 million. The average annual amount of ABSD collected from SCs buying a third and subsequent residential property was around $106 million. 5 Link to post Share on other sites More sharing options...
Kopites Supersonic May 9, 2022 Share May 9, 2022 https://www.straitstimes.com/business/property/absd-of-35-to-be-levied-on-transfers-of-residential-property-to-living-trust What is the implication? 3 Link to post Share on other sites More sharing options...
Mercs Hypersonic May 9, 2022 Author Share May 9, 2022 13 hours ago, Kopites said: https://www.straitstimes.com/business/property/absd-of-35-to-be-levied-on-transfers-of-residential-property-to-living-trust What is the implication? https://www.businesstimes.com.sg/real-estate/quick-takes-will-new-absd-rule-on-living-trusts-impact-private-housing-market Quick takes: Will new ABSD rule on living trusts impact private housing market? “We believe that only a small minority of homebuyers in Singapore use living trust to acquire residential real estate. Only the Singapore government knows the actual number of such buyers as it has the authority and reach to compile such nationwide statistics. We estimate that a single-digit percentage (that is, less than 10 per cent) of private homebuyers use living trusts to buy residential real estate.” “Most of the people who use living trusts to buy properties would put their Singaporean family members as the beneficiary of the trust. Since the net impact on these users is neutral because they can apply to Iras (Inland Revenue Authority of Singapore) for a refund of ABSD (Trust), such practices will likely continue. The main hurdle to these users is that they have to pay the ABSD upfront first, before applying to Iras for a refund. Therefore, this new policy by the government is unlikely to have a major impact on the Singapore private residential property market. “This serves to level the playing field among market players, as prior to this, some have opted to purchase and hold a property in trust for their minor children, where ABSD would not be applicable. The new ABSD (Trust) mechanism allows for the application of a remission if certain conditions are met. However, the common scenario of holding a property in trust for minor children will not qualify for remission. For most of the other scenarios, the refund ensures that the ABSD would be effectively paid at the prevailing rates of the beneficiary.” “The overall market impact is not likely to be significant, as the majority of property purchases are not made via trusts. However, the punitive ABSD (Trust) rate of 35 per cent is likely to cause quite a few families to reconsider providing a legacy for their children via the trust route. At the end of the day, with the rising costs of properties, some families may still decide to bite the bullet and secure a property as an early head-start for their young children.” “The impact of ABSD (Trust) on most typical purchases by trusts tends to be a cash flow issue, not a cost issue. Bearing in mind that such trust purchases are usually made by well-heeled families paying fully in cash, the cash flow of 35 per cent may not be too much of a deterrent, as the savings of ABSD tends to be significant.” “However, at times, the trust deed is structured in a manner where the beneficiary needs to fulfil certain conditions, such as getting married by a certain age, turning 21 or graduating from university, etc, before being entitled to the interest in the property. Or a purchase could be made with a grandparent as beneficiary, but on the condition that the property is willed back to the trustee who is funding the purchase. In the eyes of Iras, because of the unfulfilled conditions attached to it, the beneficiary is not regarded as identifiable. In these cases, the trustee would not be entitled to the refund of the ABSD Trust paid. ABSD (Trust) hence closes the loophole for such purchases.” “Because cases where trust purchases are made with conditions attached to the vesting of beneficial interest are not common, the ABSD (Trust) is not expected to have much an impact on the wider residential market”. “The new rule is not expected to affect the market as the volume is insignificant. Very few people will buy a property under trust as this means full payment in cash.” “As of Q4 2021, the gap between currency and deposits and mortgage loans has widened to 2.13. It shows that the level of liquidity in the market has grown at a faster rate. Furthermore, there has been more family offices setup in Singapore and more to come despite the change in rules recently. Many wealthy individuals are interested to buy a property for their children for estate planning purposes.” “In times of uncertainty and ample liquidity in the market, more monies will be allocated to physical assets like properties in safe havens. Singapore is widely regarded as a safe haven and first choice for investment among locals and foreigners hence more monies may flow into properties in the coming months.” 7 Link to post Share on other sites More sharing options...
Mercs Hypersonic May 9, 2022 Author Share May 9, 2022 https://www.businesstimes.com.sg/real-estate/new-absd-on-trusts-levels-playing-field-analysts New ABSD on trusts levels playing field: analysts https://www.businesstimes.com.sg/opinion/be-very-careful-when-using-a-trust-to-buy-a-home-for-a-minor Be very careful when using a trust to buy a home for a minor https://www.straitstimes.com/business/economy/bill-gates-says-rates-likely-to-rise-enough-to-cause-global-economic-slowdown Bill Gates says rates likely to rise enough to cause global economic slowdown https://www.straitstimes.com/business/invest/varied-choice-with-diverse-sectors-and-overseas-exposure-0 Reits and property trusts on SGX: Varied choice, with diverse sectors and overseas exposure https://www.straitstimes.com/business/invest/finding-value-in-reits-0 Looking to invest in Reits? Here's what to know to reap returns https://www.99.co/singapore/insider/35-absd-trust-remission/ What you need to know about the new ABSD (Trust): 35% rate + conditions for remission https://www.99.co/singapore/insider/top-5-hdb-towns-highest-psf-appreciation/ What S$500,000 can get you in the Top 5 HDB towns with the highest average price psf appreciation https://stackedhomes.com/editorial/an-introvert-renovates-how-to-furnish-an-introverts-home-part-3/ https://stackedhomes.com/editorial/touring-victoria-park-villas-a-stylish-leasehold-landed-enclave-in-district-10-next-to-gcbs/ https://stackedhomes.com/editorial/do-hdb-flats-on-lower-floors-have-poorer-resale-value/ https://stackedhomes.com/editorial/margaret-ville-review-an-upscale-looking-condo-for-those-seeking-more-privacy-not-for-young-kids-though/ https://www.homeanddecor.com.sg/gallery/house-tour-35k-renovation-for-a-dramatic-dark-apartment-with-an-upscale-boutique-hotel-feel/ House Tour: $35k renovation for a dramatic dark apartment with an upscale boutique hotel feel 6 Link to post Share on other sites More sharing options...
Kopites Supersonic May 10, 2022 Share May 10, 2022 Loop hole has been in existence for quite some times. Now seal up ..😁...🤔 Someone whistle blowing. 35%hefty ! Quoted from news article. Currently, the buyer's stamp duty (BSD) is payable when a residential property is transferred into a living trust. However, ABSD does not apply where there is no identifiable beneficial owner at the time the property is transferred. The Government intends to address this gap by introducing the new ABSD, MOF said in its Sunday statement. "With this change, ABSD will be payable even if there is no identifiable beneficial owner at the time the residential property is transferred into a trust," it said. Unquoted. 3 Link to post Share on other sites More sharing options...
Dp26 5th Gear May 10, 2022 Share May 10, 2022 On 5/8/2022 at 10:17 AM, 13177 said: So many rich people in sg? Buying private condo like buying fish in market?! I was told it’s more like buying veg or spring onions! Cheap cheap!! 1 1 Link to post Share on other sites More sharing options...
Mercs Hypersonic May 10, 2022 Author Share May 10, 2022 UP UP and away! https://www.srx.com.sg/research/63021/condo-resale-price-rise-for-21st-straight-month-increasing-by-07-in-april-2022-volumes-decrease-by-22 Condo Resale Price Rise for 21st Straight Month, Increasing by 0.7% in April 2022; Volumes Decrease by 2.2% https://www.straitstimes.com/business/property/condo-resale-prices-rise-for-21st-straight-month-in-april-suburban-condo-prices-hit-new-high Condo resale prices rise for 21st straight month in April, suburban prices hit new high https://www.businesstimes.com.sg/real-estate/condo-resale-prices-rise-for-21-straight-months-up-07-in-april-99co-srx https://sbr.com.sg/residential-property/news/condo-resale-price-increase-07-mom-in-april 4 Link to post Share on other sites More sharing options...
Mercs Hypersonic May 10, 2022 Author Share May 10, 2022 7 Link to post Share on other sites More sharing options...
Mercs Hypersonic May 10, 2022 Author Share May 10, 2022 https://www.channelnewsasia.com/commentary/hdb-ang-mo-kio-en-bloc-sers-vers-lottery-lease-2673056 Commentary: Is it a curse or a blessing when your HDB flat is picked for SERS? (Home owners may not reap windfalls from the Selective En bloc Redevelopment Scheme, but they can replace their decaying HDB lease with a fresh 99-year one) https://sg.news.yahoo.com/singapores-latest-property-tax-targets-super-rich-analysts-say-020104923.html Singapore’s latest property tax targets super rich, analysts say https://www.channelnewsasia.com/singapore/new-absd-living-trust-property-rules-singapore-2675216 New ABSD rule on trusts plugs a gap, but won't affect broader property market: Experts https://www.edgeprop.sg/property-news/deep-dive-battle-upcoming-gls-sites-dunman-road-pine-grove Deep-dive on the battle for upcoming GLS sites: Dunman Road & Pine Grove https://www.99.co/singapore/insider/post-fire-homebuyer-unable-secure-home-loan-refinance-earning-passive-income/ Post-FIRE homebuyer unable to secure home loan or refinance because he’s only earning passive income https://stackedhomes.com/editorial/7-common-reasons-why-your-renovation-may-be-delayed-and-how-you-can-avoid-them/ https://www.homeanddecor.com.sg/gallery/house-tour-an-exhuberantly-eclectic-68k-reno-of-a-40-year-old-flat-on-bain-street/ House Tour: An exhuberantly eclectic $68k reno of a 40-year-old flat on Bain Street 6 Link to post Share on other sites More sharing options...
Newbie26 Hypersonic May 10, 2022 Share May 10, 2022 23 hours ago, Mercs said: https://www.businesstimes.com.sg/real-estate/quick-takes-will-new-absd-rule-on-living-trusts-impact-private-housing-market Quick takes: Will new ABSD rule on living trusts impact private housing market? “We believe that only a small minority of homebuyers in Singapore use living trust to acquire residential real estate. Only the Singapore government knows the actual number of such buyers as it has the authority and reach to compile such nationwide statistics. We estimate that a single-digit percentage (that is, less than 10 per cent) of private homebuyers use living trusts to buy residential real estate.” “Most of the people who use living trusts to buy properties would put their Singaporean family members as the beneficiary of the trust. Since the net impact on these users is neutral because they can apply to Iras (Inland Revenue Authority of Singapore) for a refund of ABSD (Trust), such practices will likely continue. The main hurdle to these users is that they have to pay the ABSD upfront first, before applying to Iras for a refund. Therefore, this new policy by the government is unlikely to have a major impact on the Singapore private residential property market. “This serves to level the playing field among market players, as prior to this, some have opted to purchase and hold a property in trust for their minor children, where ABSD would not be applicable. The new ABSD (Trust) mechanism allows for the application of a remission if certain conditions are met. However, the common scenario of holding a property in trust for minor children will not qualify for remission. For most of the other scenarios, the refund ensures that the ABSD would be effectively paid at the prevailing rates of the beneficiary.” “The overall market impact is not likely to be significant, as the majority of property purchases are not made via trusts. However, the punitive ABSD (Trust) rate of 35 per cent is likely to cause quite a few families to reconsider providing a legacy for their children via the trust route. At the end of the day, with the rising costs of properties, some families may still decide to bite the bullet and secure a property as an early head-start for their young children.” “The impact of ABSD (Trust) on most typical purchases by trusts tends to be a cash flow issue, not a cost issue. Bearing in mind that such trust purchases are usually made by well-heeled families paying fully in cash, the cash flow of 35 per cent may not be too much of a deterrent, as the savings of ABSD tends to be significant.” “However, at times, the trust deed is structured in a manner where the beneficiary needs to fulfil certain conditions, such as getting married by a certain age, turning 21 or graduating from university, etc, before being entitled to the interest in the property. Or a purchase could be made with a grandparent as beneficiary, but on the condition that the property is willed back to the trustee who is funding the purchase. In the eyes of Iras, because of the unfulfilled conditions attached to it, the beneficiary is not regarded as identifiable. In these cases, the trustee would not be entitled to the refund of the ABSD Trust paid. ABSD (Trust) hence closes the loophole for such purchases.” “Because cases where trust purchases are made with conditions attached to the vesting of beneficial interest are not common, the ABSD (Trust) is not expected to have much an impact on the wider residential market”. “The new rule is not expected to affect the market as the volume is insignificant. Very few people will buy a property under trust as this means full payment in cash.” “As of Q4 2021, the gap between currency and deposits and mortgage loans has widened to 2.13. It shows that the level of liquidity in the market has grown at a faster rate. Furthermore, there has been more family offices setup in Singapore and more to come despite the change in rules recently. Many wealthy individuals are interested to buy a property for their children for estate planning purposes.” “In times of uncertainty and ample liquidity in the market, more monies will be allocated to physical assets like properties in safe havens. Singapore is widely regarded as a safe haven and first choice for investment among locals and foreigners hence more monies may flow into properties in the coming months.” Based on the arguments above, this CM and also recent ones have been anticipated to have limited impact. Then what kind of CM will really have an impact? ABSD 25%-35% limited impact, then maybe need at least 50%. LOL ↡ Advertisement 2 Link to post Share on other sites More sharing options...
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