Mercs: property news & updates

[Mercs]

2 hours ago, Silver_blade said:

Almost all are selling at $2k and above. Even the one at Pasir Ris is going for $1.7k. I guess pte property market can be allowed a bit more room for speculation as long as BTO flats prices are kept at reasonable range. 

Agree, we are already at new benchmark record prices, new launch no 2k psf above no talk, even EC which is suppose to be a more affordable entry to PTE also 1.3k psf and trending upwards.

"as long as BTO flats prices are kept at reasonable range" - unlikely when BTO prices are peg to market rate, as mentioned prior soon we'll be seeing near no 1mil no talk bto prices, could be PLH or those in matured estate eg : latest AMK already 800+K for 5room.

 

Balance 61 years of lease- no 1mil no talk!

 

 

 

[Mercs]

Not just property prices at record highs, Rental/Demand also off the charts! As always - 'got data got talk' 

 

 

https://www.srx.com.sg/research/64231/condo-rents-rise-by-33-in-september-2022-rising-for-21st-consecutive-month-hdb-rents-increase-by-32-increasing-for-27th-straight-month

- Year-on-year, overall rents increase by 30.9% from September 2021.

- Year-on-year, rents in CCR, RCR and OCR increase by 29.3%, 31.8% and 31.3% respectively.

 

 - Year-on-year, overall rents increase by 24.7%.

- Year-on-year, Mature Estates and Non-Mature Estates rents increase by 24.0% and 25.5% respectively.

- Year-on-year, all room types record rent increases: 3 Room by 25.3%, 4 Room by 22.5%, 5 Room by 27.9% and Executive rents by 23.3%

 

https://www.asiaone.com/money/so-ridiculous-owner-so-lucky-4-room-bendemeer-flat-rented-out-record-4600

'So ridiculous but owner is so lucky': 4-room Bendemeer flat rented out for record $4,600

 

https://www.businesstimes.com.sg/real-estate/property-2022-oct-issue/no-signs-of-cooling-for-the-rental-market-in-2022

No signs of cooling for the rental market in 2022

 

 

Edited October 19, 2022 by Mercs

[Mercs]

https://www.channelnewsasia.com/singapore/singapores-household-debt-situation-healthy-low-non-performing-mortgages-3017136

Singapore’s household debt situation ‘healthy’, with low non-performing home loans

https://www.businesstimes.com.sg/real-estate/most-singapore-households-able-to-continue-servicing-mortgages-amid-rising-interest

Most Singapore households able to continue servicing mortgages amid rising interest rates

 

https://www.asiaone.com/money/multi-generation-hdb-resale-flat-yishun-sold-record-1063m

Multi-generation HDB resale flat in Yishun sold for a record $1.063m

 

https://www.edgeprop.sg/property-news/high-floor-and-proximity-mrt-station-rank-top-attributes-million-dollar-hdb-flats-propnex

High floor and proximity to MRT station rank as top attributes of million-dollar HDB flats

https://www.edgeprop.sg/property-news/unit-astrid-meadows-rakes-37-mil-profit

Unit at Astrid Meadows rakes in $3.7 mil profit

https://www.edgeprop.sg/property-news/redevelopment-site-pasir-panjang-road-sold-silver-edge-investment-185-mil

Redevelopment site at Pasir Panjang Road sold to Silver Edge Investment for $18.5 mil

 

https://www.channelnewsasia.com/singapore/property-cooling-measures-15-month-wait-out-hdb-bto-3017046

More than 600 appeals for waiver of 15-month HDB resale wait-out period

 

https://stackedhomes.com/editorial/is-a-hdb-flat-oversupply-inevitable-in-the-future-what-happens-when-our-parents-generation-passes-on/

https://stackedhomes.com/editorial/4-ways-uras-new-move-to-curb-shoebox-units-in-central-areas-could-affect-the-singapore-property-market/

https://stackedhomes.com/editorial/are-loan-curbs-the-biggest-cooling-measure/

[Silver_blade]

On 10/19/2022 at 10:49 PM, Mercs said:

Not just property prices at record highs, Rental/Demand also off the charts! As always - 'got data got talk' 

 

 

https://www.srx.com.sg/research/64231/condo-rents-rise-by-33-in-september-2022-rising-for-21st-consecutive-month-hdb-rents-increase-by-32-increasing-for-27th-straight-month

- Year-on-year, overall rents increase by 30.9% from September 2021.

- Year-on-year, rents in CCR, RCR and OCR increase by 29.3%, 31.8% and 31.3% respectively.

 

 - Year-on-year, overall rents increase by 24.7%.

- Year-on-year, Mature Estates and Non-Mature Estates rents increase by 24.0% and 25.5% respectively.

- Year-on-year, all room types record rent increases: 3 Room by 25.3%, 4 Room by 22.5%, 5 Room by 27.9% and Executive rents by 23.3%

 

https://www.asiaone.com/money/so-ridiculous-owner-so-lucky-4-room-bendemeer-flat-rented-out-record-4600

'So ridiculous but owner is so lucky': 4-room Bendemeer flat rented out for record $4,600

 

https://www.businesstimes.com.sg/real-estate/property-2022-oct-issue/no-signs-of-cooling-for-the-rental-market-in-2022

No signs of cooling for the rental market in 2022

 

 

You reckon rental market will remain strong for how long more? Some say for the next 2-4yrs.

[camrysfe]

Next year should remain strong

[13177]

@Mercs 

https://www.asiaone.com/money/so-ridiculous-owner-so-lucky-4-room-bendemeer-flat-rented-out-record-4600

'So ridiculous but owner is so lucky': 4-room Bendemeer flat rented out for record $4,600

Dont know what is the person who paid such price for this rental thinking? Owner can ask any rental price they want/like, but if no takers, the deal also cannot go thru. I really dont understand why so many people give in to these ridiculous owner when renting and buying for a HDB?

[inlinesix]

11 minutes ago, 13177 said:

@Mercs 

https://www.asiaone.com/money/so-ridiculous-owner-so-lucky-4-room-bendemeer-flat-rented-out-record-4600

'So ridiculous but owner is so lucky': 4-room Bendemeer flat rented out for record $4,600

Dont know what is the person who paid such price for this rental thinking? Owner can ask any rental price they want/like, but if no takers, the deal also cannot go thru. I really dont understand why so many people give in to these ridiculous owner when renting and buying for a HDB?

It is a very nice neighbourhood next to the river.

In addition, it is very close to the city.

If the entire market also, how not to give in?

Nowadays, 1 room already $1k.

[Mercs]

19 hours ago, Silver_blade said:

You reckon rental market will remain strong for how long more? Some say for the next 2-4yrs.

Concur with the some 🤣 just name few obvious reasons why this is so ...

 

- covid not going away anytime soon, one construction worker infected will spread to colleague more go isolate less hands onboard means more           slowdown longer delay to completion.

- borders reopen ahgong already said need more FTs to come drive the economy as well as fill labour shortage eg: healthcare, f&b, tourism etc.

- dwindling new launch supply less TOP projects less available units next few years while rental demand continue to balloon with more FTs.

- latest CM 15 month wait not helping, more coming in to squeeze with the already small pool of available rental units driving rental prices up further. One   of the earlier youtube i posted agent mentioned whenever a new leasing is up will receive 50-100 calls from potential tenants, to secure highest bid for   landlord, final rental price may be even higher than asking.

 

As above demand to remain strong with both property rental & sale prices to stay elevated.

 

[Mercs]

11 hours ago, 13177 said:

@Mercs 

https://www.asiaone.com/money/so-ridiculous-owner-so-lucky-4-room-bendemeer-flat-rented-out-record-4600

'So ridiculous but owner is so lucky': 4-room Bendemeer flat rented out for record $4,600

Dont know what is the person who paid such price for this rental thinking? Owner can ask any rental price they want/like, but if no takers, the deal also cannot go thru. I really dont understand why so many people give in to these ridiculous owner when renting and buying for a HDB?

In article agent already mentioned - tenants not eligible to buy 😉

An educated guess would be PPO or ex-PPO just offload PTE pocketing millions very cash rich money no issue and with 15 months of liang teh so just rent.

Why so high rental price? Same same as what's happening to the HDB resale record million dollar price tags with high COV. Simply put ... can afford.

Property prices getting insanely high, rental prices also going bonkers ... huat ah! 🤣

 

[Mercs]

 

 

 

[Mercs]

https://www.asiaone.com/money/banks-just-released-their-new-fixed-interest-rate-home-loan-packages-what-does-mean-you

Banks just released their new fixed interest rate home loan packages. What does this mean for you as a homeowner?

 

 

[Mercs]

On 10/19/2022 at 8:33 PM, Mercs said:

we are already at new benchmark record prices, new launch no 2k psf above no talk, even EC which is suppose to be a more affordable entry to PTE also 1.3k psf and trending upwards.

 

"conversion rate of 20.3%" ... 80% still waiting to buy 😉

 

https://www.edgeprop.sg/property-news/copen-grand-achieves-73-sales-launch-day-making-it-best-selling-ec-project-2017

Copen Grand achieves 73% sales on launch day, making it the best-selling EC project since 2018

 

Copen Grand, the first executive condo (EC) in Tengah Town, Singapore’s first smart and sustainable precinct, saw a total of 465 out of a total of 639 units or 72.8% taken up on the first day of sales booking on Oct 22.

The average launch price was $1,300 psf.

Prices range from $1.08 million for a two-bedroom plus study to $1.48 million for a four-bedroom deluxe. Four-bedroom premium units were priced from $1.58 million, while five-bedroom premium units are upwards of $1.88 million. Unit sizes range from 807 sq ft for a two-bedroom plus study to 1,722 sq ft for a top-floor five-bedroom premium unit.

Copen Grand’s first-day sales translate to a conversion rate of 20.3% based on the 2,300 e-applications received between Oct 7 to 17, in the lead-up to the launch.

 

[Mercs]

 

[Mercs]

Huat ah!

 

https://www.99.co/singapore/insider/1001-pinnacle-duxton-flat-s1-37m-s1368-psf-most-expensive-4-room-hdb-resale/

1,001-sqft Pinnacle@Duxton flat sold for S$1.37m at record S$1,368 psf – most expensive 4-room HDB resale in Singapore

 

"A 1,001-sqft 4-room (Type S1) flat at the 46-48th floor of Blk 1D of Pinnacle@Duxton has just been sold for S$1.37m (S$1,368 psf) in October 2022.

The sale has made it the most expensive 4-room HDB resale flat in Singapore and the 2nd-highest price ever paid for a flat at Pinnacle@Duxton.

What’s particularly astounding about the Pinnacle@Duxton sale is that its S$1,368 per square foot price is the highest recorded for HDB resale flats nationwide."

[13177]

1 hour ago, Mercs said:

Huat ah!

 

https://www.99.co/singapore/insider/1001-pinnacle-duxton-flat-s1-37m-s1368-psf-most-expensive-4-room-hdb-resale/

1,001-sqft Pinnacle@Duxton flat sold for S$1.37m at record S$1,368 psf – most expensive 4-room HDB resale in Singapore

 

"A 1,001-sqft 4-room (Type S1) flat at the 46-48th floor of Blk 1D of Pinnacle@Duxton has just been sold for S$1.37m (S$1,368 psf) in October 2022.

The sale has made it the most expensive 4-room HDB resale flat in Singapore and the 2nd-highest price ever paid for a flat at Pinnacle@Duxton.

What’s particularly astounding about the Pinnacle@Duxton sale is that its S$1,368 per square foot price is the highest recorded for HDB resale flats nationwide."

Really fainted, 4 room can sell $1.37m? The buyer must be siao liao? Wonder how much COV did the buyer paid?

[Mercs]

43 minutes ago, 13177 said:

Really fainted, 4 room can sell $1.37m? The buyer must be siao liao? Wonder how much COV did the buyer paid?

Haha, record after yet again another new record to property prices ... still think future 1mil BT0 or 2mil HDB resale too far-fetched? 🤣

Demand Supply, simi CM liang teh come also no use cos there's a real need to buy. As mentioned prior the only way for prices to come down is to flood the market with supply as in reduce/remove MOP temporarily or Demand will just keep ballooning and property price getting to new highs. 😉

 

https://theindependent.sg/vikram-nair-waive-or-reduce-minimum-occupation-period-mop-for-hdb-resale-flats-to-help-lower-prices/

Vikram Nair: Waive or reduce Minimum Occupation Period (MOP) for HDB resale flats to help lower prices

[13177]

9 hours ago, Mercs said:

Haha, record after yet again another new record to property prices ... still think future 1mil BT0 or 2mil HDB resale too far-fetched? 🤣

Demand Supply, simi CM liang teh come also no use cos there's a real need to buy. As mentioned prior the only way for prices to come down is to flood the market with supply as in reduce/remove MOP temporarily or Demand will just keep ballooning and property price getting to new highs. 😉

 

https://theindependent.sg/vikram-nair-waive-or-reduce-minimum-occupation-period-mop-for-hdb-resale-flats-to-help-lower-prices/

Vikram Nair: Waive or reduce Minimum Occupation Period (MOP) for HDB resale flats to help lower prices

Waive or reduce MOP for HDB resale flats can help lower prices? Why so? 

[Mercs]

11 hours ago, 13177 said:

Waive or reduce MOP for HDB resale flats can help lower prices? Why so? 

As mentioned - Demand Supply 🙂

 

https://www.investopedia.com/ask/answers/033115/how-does-law-supply-and-demand-affect-prices.asp#:~:text=It's a fundamental economic principle,services when demand is unchanged.

How Does the Law of Supply and Demand Affect Prices?

 

"It's a fundamental economic principle that when supply exceeds demand for a good or service, prices fall. When demand exceeds supply, prices tend to rise."