Jump to content

Singapore Property Scene Discussion


therock
 Share

Recommended Posts

1 minute ago, therock said:

Firstly kudos to them for crowd control. But even then, there is still a certain hunger... it almost feels like a Tangs sale... I can't imagine that we have so much hidden cash to spend..

we see the TIP only ... :D 

every launch you go ... you will only the red stickers with the word SOLD

tipoftheiceberg-scaled.jpeg

↡ Advertisement
Link to post
Share on other sites

covid? where? only sold sold sold ... :D 

the more ah gong talk ... the faster the price run because all scare ah gong chut new pattern [confused] 

2021-01-18_225534.jpg

Edited by Wt_know
Link to post
Share on other sites

https://www.straitstimes.com/business/property/talk-of-more-private-property-cooling-measures

Talk of more private property cooling measures

Talk of another round of property cooling measures has intensified in the wake of recent ministerial remarks that the Government is keeping a close watch on the market, which has so far defied the pandemic-induced recession.

This comes as Urban Redevelopment Authority flash estimates showed private home prices rose 2.1 per cent for the fourth quarter - the steepest quarterly increase since the second quarter of 2018 when they jumped 3.4 per cent before property cooling measures hit in July that year.

This is despite Singapore's economy appearing on track to shrink 6 per cent for 2020 and unemployment hitting 3.6 per cent in the third quarter compared with 2.3 per cent a year ago.

Strong sales at Normanton Park - the largest and first new launch this year, with close to one-third of its 1,862 units sold - were cited as another factor for more possible cooling measures.

But some analysts believe it is premature for such measures to be implemented at this point.

Precipitating the July 2018 round of measures were four consecutive quarters of price increases totalling 9.1 per cent as well as higher than expected Government Land Sales (GLS) bids and record-high collective sale bids.

In comparison, private home prices are up 2.2 per cent for 2020.

Ms Tricia Song, Colliers International's research head for Singapore, noted: "GLS land bids were in line or lower than expected, although the number of bids is increasing. And collective sales are still nascent, with just four smallish ones in 2020."

She said: "We believe the Government will wait out a few quarters and monitor prices. In the meantime, it is sending out messages that buyers should be prudent and that prices should not continue to move up significantly before an actual economic pickup."

Deputy Prime Minister and Finance Minister Heng Swee Keat said on Monday that the Government is paying "close attention" to the local real estate market "to ensure that it remains stable". As the economic outlook remains very uncertain, he added, "we do not want to see the property market run ahead of the underlying economic fundamentals".

His comments at the Real Estate Developers' Association of Singapore (Redas) came hours after National Development Minister Desmond Lee said at a BCA-Redas seminar that the Government is monitoring the property market "very closely". Mr Lee had urged developers to remain prudent in land bidding, and households to exercise caution when buying property, given the uncertain outlook.

Analysts at DBS Group Research and Jefferies Financial Group see these remarks as a signal for more cooling measures.

DBS analysts noted that private home prices have been fuelled by low interest rates, upgraders and former collective sale sellers returning to the market, and increased buyer confidence as many Singaporeans have remained employed due to various job schemes.

"This trend has surprised many and a further acceleration in price trends in 2021 may put the property market in frothy territory," DBS analysts warned.

To counter the impact ample liquidity and low interest rates have had on asset prices, DBS analysts suggested that the Government could further "tweak additional buyer stamp duties for investors and foreigners as it has been shown to slow the pace of price increases", tighten mortgage terms and adjust upwards the average minimum home size for new developments.

While prices should be monitored closely, what is more important is the rate of price growth each quarter, and land price growth, said Mr Wong Xian Yang, Cushman & Wakefield's associate director of research for Singapore and South-east Asia.

"Most of 2020's 2.2 per cent growth came from the fourth quarter, which registered a 2.1 per cent growth. So, it is still too early to assess if price growth is on an unsustainable trajectory. The current market could be propped up due to government stimulus, and when that stimulus winds down, it is uncertain if current demand can be sustained," he added.

"To ensure that home purchases are prudent, the Government can introduce further loan curbs for both local and foreign investors... I don't think additional buyer's stamp duty (ABSD) should be increased further given that different sectors have performed differently. Prime or core central region prices fell by 0.2 per cent in 2020, while prices in the rest of central region and outside central region rose 5.1 per cent and 3.1 per cent respectively. Increasing ABSD may result in more divergent performance across sectors," Mr Wong said.

Link to post
Share on other sites

1 hour ago, noobcarbuyer said:

To counter the impact ample liquidity and low interest rates have had on asset prices, DBS analysts suggested that the Government could further "tweak additional buyer stamp duties for investors and foreigners as it has been shown to slow the pace of price increases", tighten mortgage terms and adjust upwards the average minimum home size for new developments.

I am looking to upgrade or sidegrade in 2021. Wonder how this will impact the market.

Link to post
Share on other sites

On 1/18/2021 at 10:56 PM, Wt_know said:

covid? where? only sold sold sold ... :D 

the more ah gong talk ... the faster the price run because all scare ah gong chut new pattern [confused] 

2021-01-18_225534.jpg

More grant for strawberry gen and keep price high high up in the sky for the rest.  😄 

 

  • Haha! 3
Link to post
Share on other sites

On 1/20/2021 at 9:31 AM, Wt_know said:

at least spore has proven that there is 1 thing that can defy gravity ... lol

Haha SG is a debt economy... very deep in . Now 骑虎难下 . Need more dept to create more wealth  . 😅

  • Haha! 3
Link to post
Share on other sites

The inexorable rise in property prices and the ability of buyers to afford ever higher COEs tells me there are enough people who seem to be unaffected by the downturn.

In fact, it's an opportunity to get that dream home.

But we do want to have income, rentals, capital gain, and there in lies the dilemma... socialist style housing, or market forces... 

  • Praise 1
Link to post
Share on other sites

https://www.channelnewsasia.com/news/commentary/singapore-homes-become-workspaces-huge-changes-work-home-13220992

This part is interesting:

Quote

CHANGES IN THE HOME

The modern Singapore home is not really suited for WFH where homes have been designed for rest, retreat and dining, with little remaining space for work.

According to the Department of Statistics, the average household size for HDB 4-room flat is 3.22 with a typical floor area of 90 sqm - meaning around 28 sqm per person.

This number is lower for families who live in compact shoebox units with a typical floor area of around 50 sqm.

Many have repurposed the dining table for work but even that can be challenging with video calls and home-based learning happening simultaneously.

Separate study areas where each family member can focus on work or school is ideal, beyond bedrooms providing this makeshift segregation. Some households may prefer an additional purpose-built study room.

In retrospect, the 2018 URA guidelines requiring a minimum average unit size of 85 sqm for new developments in OCR and 100 sqm in selected areas, which may have been intended to reduce infrastructure strain in neighbourhoods, now look prescient where they mandate developers to provide larger spaces for residents.

READ: Goodbye office: Is the future of work in our homes?

File photo of the SkyTerrace@Dawson HDB flats. (Photo: Facebook/HDB)

LISTEN: Disruption 101: How COVID-19 is revolutionising work

Beyond the need for more space, the trouble is homes are built differently from offices. Residential flats tend to be built with a north-south facing to minimise sun glare and heat coming into flats, whereas offices have glass facades to permit natural lighting.

Residential buildings are less well insulated acoustically to cut off noise. Traffic noise, noisy neighbours, and people movements can pose unhelpful distractions when working from home.

But simple improvements, like ensuring stable and reliable high-speed broadband networks, installing day curtains and setting up a home office space with a comfortable, table, chair and monitor, can vastly improve productivity.

 

  • Praise 1
Link to post
Share on other sites

HK 500sqft (46sqm) "average size" for "family" is coming hor ... ya'll mai hiam la!

it's 500sqft not typo for 1500sqft hor ... :D  

think ahead ... set up furniture shop with "mini size" ... sure huat until siao ... 

Edited by Wt_know
  • Haha! 1
Link to post
Share on other sites

Just don’t forget the several years of stagnant growth in SG while roaring growth was recorded in every modern economy.

We have some room if the growth in 2021-2022 is below 5-10% or so.

  • Praise 1
Link to post
Share on other sites

whatever policy G come up ... there is countermeasure

one wants to win in property ... whatever it takes ... [laugh] 

must learn from the best

2021-01-25_085246.jpg

Link to post
Share on other sites

Supercharged
On 1/24/2021 at 10:44 AM, therock said:

https://www.channelnewsasia.com/news/commentary/singapore-homes-become-workspaces-huge-changes-work-home-13220992

This part is interesting:

"Residential buildings are less well insulated acoustically to cut off noise. Traffic noise, noisy neighbours, and people movements can pose unhelpful distractions when working from home."

Having a pair of good noise cancelling headphones with built-in mic should help.

Link to post
Share on other sites

Turbocharged
On 1/17/2021 at 3:26 PM, Volvobrick said:

Banks only send people to conduct valuations, they don't survey. These are not professional engineers who look for illegal constructions unless it is so blatant like building 3 and a half storey in a 2 and a half zone. 

spot on. i was going to come and reply too .. which bank so bo liao to ask for surveyor report.

when you take the OTP, the onus is on the buyer to do his own DD. that also means, dont use a shit lawyer. make sure the lawyer does the basic title searches etc etc and highlight any issues like roadline / setback etc. after that its up to you to hire your own surveyor.

↡ Advertisement
  • Praise 1
Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share

×
×
  • Create New...