Mercs: property news & updates

[Khng8]

I wonder how long the minister will maintain their position that >$1m HDB is a minority when all those Dawson, Henderson etc reached MOP.

If HDB sell new BTO at >$700k or $800k, you effectively tell everyone the market value is >$1m. 
There needs to be a rethink of the subsidy for BTO.

Even for non-PLH BTO, there should be a claw back of subsidy of say 10% to reduce the lottery effect.  This will hopefully encourage people to treat HDB more as housing than an asset to be milked. 
Right now, the gain is so attractive that everyone who qualify will want to try their luck.

[Kopites]

13 minutes ago, Khng8 said:

I wonder how long the minister will maintain their position that >$1m HDB is a minority when all those Dawson, Henderson etc reached MOP.

If HDB sell new BTO at >$700k or $800k, you effectively tell everyone the market value is >$1m. 
There needs to be a rethink of the subsidy for BTO.

Even for non-PLH BTO, there should be a claw back of subsidy of say 10% to reduce the lottery effect.  This will hopefully encourage people to treat HDB more as housing than an asset to be milked. 
Right now, the gain is so attractive that everyone who qualify will want to try their luck.

Currently there is a call back of 6% plm.

 

[Khng8]

@Kopites I mean this subsidy clawback should apply to all BTO to slow the flipping & fuelling the whole property market.

[Mercs]

Foreign demand is here = China power!!! 😛

https://www.edgeprop.sg/property-news/¬chinese-national-buys-20-units-canninghill-piers-over-85-mil

Chinese national buys 20 units at CanningHill Piers for over $85 mil

"a Chinese buyer recently purchased 20 units in a bulk deal at luxury condo CanningHill Piers. The total purchase price is believed to be over $85 million for the units"

 

https://www.edgeprop.sg/property-news/commentary-peeking-piccadilly-grand’s-success

COMMENTARY: Peeking into Piccadilly Grand’s success

https://www.edgeprop.sg/property-news/owners-jansen-mansions-kovan-make-third-en-bloc-attempt-priced-189-mil

Owners of Jansen Mansions in Kovan make third en bloc attempt priced at $18.9 mil

https://www.edgeprop.sg/property-news/euro-asia-apartments-serangoon-road-collective-sale-218-mil

Euro-Asia Apartments on Serangoon Road up for collective sale at $218 mil

 

https://www.straitstimes.com/singapore/housing/why-are-bto-application-rates-so-high-hdb-cites-repeat-applicants-longer-booking-period-attractive-projects

Why are HDB BTO application rates so high? What does your queue number say about your chances?

 

https://www.businesstimes.com.sg/real-estate/prices-of-mass-market-property-launches-could-hit-record-high-as-developers-face-cost

Prices of mass market property launches could hit record high as developers face cost constraints

 

https://www.99.co/singapore/insider/father-gifts-son-20-properties-to-find-wife/

Father gifts 24 year old son 20 properties to help him find a wife

 

https://stackedhomes.com/editorial/the-peak-toa-payoh-review/

https://stackedhomes.com/editorial/should-you-invest-in-a-condos-commercial-space-here-are-6-things-to-note/

[13177]

1 hour ago, Khng8 said:

I wonder how long the minister will maintain their position that >$1m HDB is a minority when all those Dawson, Henderson etc reached MOP.

If HDB sell new BTO at >$700k or $800k, you effectively tell everyone the market value is >$1m. 
There needs to be a rethink of the subsidy for BTO.

Even for non-PLH BTO, there should be a claw back of subsidy of say 10% to reduce the lottery effect.  This will hopefully encourage people to treat HDB more as housing than an asset to be milked. 
Right now, the gain is so attractive that everyone who qualify will want to try their luck.

Soon all resale hdb no at least $1m no talk. 😅

[Newbie26]

21 hours ago, Mercs said:

https://www.edgeprop.sg/property-news/higher-pricing-benchmark-city-fringe-condos-more-transactions-exceeding-2500-psf

Higher pricing benchmark for city fringe condos with more transactions exceeding $2,500 psf

 

https://www.propertyguru.com.sg/property-guides/new-launch-condos-2022-58782

17 New Launch Condos and ECs for 2022: Upcoming Projects We Can Expect

https://www.propertyguru.com.sg/property-guides/condo-that-will-top-in-2021-40872

32 TOP Condos in 2022 for Those Who Need to Move In Urgently

 

 

 

 

Land prices keep increasing, record after record with time.

So maybe what a lot of agents are saying is correct, hard to see ppty prices coming down in any significant way.

Demand > supply

The CMs only help to moderate the % rise

 

[Mercs]

On 6/1/2022 at 8:58 PM, Newbie26 said:

Land prices keep increasing, record after record with time.

So maybe what a lot of agents are saying is correct, hard to see ppty prices coming down in any significant way.

Demand > supply

The CMs only help to moderate the % rise

 

Haha, now u know why i've said last Dec the latest CMs are conservative outcome underwhelming, dun say price drop some slight healthy price correction also no smell, just keep going up up and away, we are already at new benchmark price levels.

As mentioned - foreign demand returning, developer low unsold stock next wave enbloc fever, development plans around SG (eg: HDB now have PLH, all are future no 1mil up no talk resales, for PTE there is GSW etc) will further push up property prices.

Also mentioned long ago, current cycle uptrend prop prices diff from previous cycles - CM trump card. If prices do fall in future (eg : recession), all that needs done is reduce/remove some CMs eg: ABSD/ LTV to support maintain prices.

Whichever way u look at it, all signs indicate more upside, so how r prices gonna drop? 😉 ...in the land of Expensive SG, playground of the RICH

 

 

[Mercs]

Ahgong HUAT ah! 😛

https://www.99.co/singapore/insider/20-units-canninghill-piers-bought-bulk-chinese-national-over-s85m/

20 units at CanningHill Piers bought in bulk by Chinese national for over S$85m

Buyer is considering to buy 10 more units

The Zaobao report also quoted a source familiar with the deal, saying that the buyer is considering buying 10 more units, which would mean that the deal would amount to more than S$100 million. This would translate to an ABSD of S$30 million. This is on top of the Buyer’s Stamp Duty (BSD), which we estimate to be around S$4 million in total should the deal for the additional units go through. 

https://mothership.sg/2022/06/canninghill-piers-20-units/

 

https://sbr.com.sg/residential-property/news/median-prices-city-fringe-condo-2086-psf

Median prices of city fringe condo at $2,086 psf

(Prices are moving up due to higher transactions)

 

https://www.edgeprop.sg/property-news/singhaiyi-submits-highest-bid-1284-bil-dunman-road-gls-site

SingHaiyi submits highest bid of $1.284 bil for Dunman Road GLS site

https://www.edgeprop.sg/property-news/uol-and-singland-jv-submit-highest-bid-1318-psf-ppr-pine-grove-parcel

UOL and SingLand JV submit highest bid of $1,318 psf ppr for Pine Grove Parcel A

https://www.edgeprop.sg/property-news/good-time-invest-prime-property-core-central-region

Is this a good time to invest in a prime property in the Core Central Region?

https://www.edgeprop.sg/property-news/lower-application-rates-plh-projects-may-2022-bto-exercise

Lower application rates for PLH projects in May 2022 BTO exercise

https://www.edgeprop.sg/property-news/realtors-behind-record-breaking-14-mil-sale-henderson-flat

The realtors behind the record-breaking $1.4 mil sale of Henderson flat

 

https://stackedhomes.com/editorial/7-condos-that-may-benefit-from-the-upcoming-tavistock-serangoon-north-mrt-stations/

https://stackedhomes.com/editorial/ive-lived-at-parvis-on-holland-hill-for-8-years-heres-my-honest-review/

 

[13177]

14 minutes ago, Mercs said:

Haha, now u know why i've said last Dec the latest CMs are conservative outcome underwhelming, dun say price drop some slight healthy price correction also no smell, just keep going up up and away, we are already at new benchmark price levels.

As mentioned - foreign demand returning, developer low unsold stock next wave enbloc fever, development plans around SG (eg: HDB now have PLH, all are future no 1mil up no talk resales, for PTE there is GSW etc) will further push up property prices.

Also mentioned long ago, current cycle uptrend prop prices diff from previous cycles - CM trump card. If prices do fall in future (eg : recession), all that needs done is reduce/remove some CMs eg: ABSD/ LTV to support maintain prices.

Whichever way u look at it, all signs indicate more upside, so how r prices gonna drop? 😉 ...in the land of Expensive SG, playground of the RICH

Still dont understand how they define PLH? How come queenstown can consider as PLH? So next time all those popular location which resale flat is selling like hot cakes can sell as PLH for BTO? Places like bishan, toa payoh and clementi?

[Mercs]

 

 

 

[Mercs]

3 minutes ago, 13177 said:

Still dont understand how they define PLH? How come queenstown can consider as PLH? So next time all those popular location which resale flat is selling like hot cakes can sell as PLH for BTO? Places like bishan, toa payoh and clementi?

Haha, already mentioned in news buyers questioning - how come last time Queenstown not under PLH but now is? How come then Toa Payoh not under PLH? 

My layman definition is as long got future resales potential of no 1mil up no talk, means can be ANY area as ahgong sees fit, and with HDB peg to current property price, even just 4room (not 5room) BTO also can sell 750K ... who huat? 😉

 

https://www.youtube.com/watch?v=8s_27lDpfss

 

[Mercs]

https://sbr.com.sg/residential-property/news/selling-prices-pine-grove-and-dunman-road-may-range-2200-2400-psf

Selling prices of Pine Grove and Dunman Road may range from $2,200 to $2,400 psf

(Top bids for the two sites were $1,318 psf ppr and $1,350 psf ppr, respectively)

https://sbr.com.sg/residential-property/news/why-was-there-low-interest-in-bukit-merah-ridge-and-ghim-moh-ascent

Why was there low interest in Bukit Merah Ridge and Ghim Moh Ascent

(Application rates for the two PLH BTOs range from one to four)

 

https://www.edgeprop.sg/property-news/residential-transactions-contracts-dated-may-17-may-24-done-deals

Residential transactions with contracts dated May 17 to May 24 [DONE DEALS]

https://www.edgeprop.sg/property-news/sale-penthouse-robinson-suites-sets-new-low-2128-psf

Sale of penthouse at Robinson Suites sets new low of $2,128 psf

https://www.edgeprop.sg/property-news/four-bedder-cliveden-grange-sold-234-mil-loss

Four-bedder at Cliveden at Grange sold at $2.34 mil loss

https://www.edgeprop.sg/property-news/three-bedder-sail-marina-bay-sold-243-mil

Three-bedder at The Sail @ Marina Bay sold under the hammer for $2.43 mil

 

https://www.propertyguru.com.sg/property-guides/best-selling-condos-avenue-south-residence-normanton-park-dairy-farm-residences-65795

Top 10 Best-selling Condos in Q1 2022: Why Are They So Popular?

 

https://www.homeanddecor.com.sg/gallery/touring-hausserangoon-gardens-bustling-landed-living-near-a-plethora-of-amenities-for-about-3-million/

Touring Haus@Serangoon Gardens: Bustling Landed Living Near A Plethora Of Amenities For About $3 Million

 

https://stackedhomes.com/editorial/5-freehold-walk-up-apartments-close-to-an-mrt-station/

https://stackedhomes.com/editorial/renting-to-expats-6-key-factors-to-note-for-better-returns/

[Mercs]

 

 

 

[Alfc]

7 minutes ago, Mercs said:

 

 

 

IMO, it is all about the price. Set the BM BTO price 20-30% lower and see if all these mentioned reason still hold?

Everybody wants to take the first big fat cut here.

[Khng8]

@Mercs Everyone who qualify for a BTO wants to apply for one.
Read - It’s not everyone who needs a BTO.

Which explain the high subscription rate.

And why is this the case? Becos it’s a citizen’s entitlement to ‘free $’. Which actually comes from tax payers.

 

[Kopites]

2 hours ago, Mercs said:

 

 

 

Seem like many under ang mo kio not happy with the sers replacement scheme. I don't understand. Should it not be one for one replacement?

[Mercs]

1 hour ago, Khng8 said:

@Mercs Everyone who qualify for a BTO wants to apply for one.
Read - It’s not everyone who needs a BTO.

Which explain the high subscription rate.

And why is this the case? Becos it’s a citizen’s entitlement to ‘free $’. Which actually comes from tax payers.

 

@Khng8 I'm one of the odd one out, never apply or own any BTO/HDB, bought my first PTE in my early 20s and never looked back. At that time was contemplating which route to go, parents advice to stay grounded buy hdb more affordable less loan burden. Rationale for me is simple, if buy hdb have to wait 10yrs later before can touch pte, by then pte property prices would probably also be much higher, even if profit from bto sell high buy higher, another reason is young time more garung, chiong first talk later

At that time got no CMs, it also makes sense for those who go BTO, can keep, rent or upgrade/invest 2nd property PTE later. But now not too sure if this route still good to go with 2 names locked. With ABSD different ballgame even more so in today's context, to consider straight PTE no HDB as an option, my layman view 😉

 

 

 

[Mercs]

2 hours ago, Alfc said:

IMO, it is all about the price. Set the BM BTO price 20-30% lower and see if all these mentioned reason still hold?

Everybody wants to take the first big fat cut here.

Not just price, under PLH got 6% clawback but most importantly, only after 15 years later then can flip 😛