Property: Strong Interest Despite Loan Curbs

[Wt_know]

this is the trend. land alone already cost smelly smelly $500+ psf

after build up + landscape + profit + this&that ... no $1,000+ psf no talk

simi curb also no use la ...

 

http://www.todayonline.com/business/tampin...pite-loan-curbs

 

The tender for a private housing site at Tampines Avenue 10 attracted 10 bids at the close yesterday, with developers unfazed by the new loan curbs imposed by the central bank late last month.

 

The 99-year leasehold site, released from the Confirmed List of the Government Land Sales programme, drew a top bid of S$289.7 million from MCC Land, or about S$562.01 per sq foot per plot ratio, the Urban Redevelopment Authority said. Sitting on about 184,094 sq ft of land that can be developed to a maximum gross floor area of 515,472 sq ft, the site can yield 530 homes.

 

Ms Christine Li, Head of Research and Consultancy at real estate agency OrangeTee, said the top bid was “very bullish” despite the new Total Debt Servicing Ratio (TDSR) framework. Under the TDSR, the total debt obligations of the mortgagor cannot exceed 60 per cent of his gross income, new loan repayments are calculated based on a medium-term interest rate of 3.5 per cent or the prevailing rate if the latter is higher, and guarantors will be brought in as co-borrowers.

 

Ms Li noted that MCC Land’s bid was “34 per cent higher than the adjacent site sold in May 2012, where Q Bay is located. In terms of number of bidders that participated in the tender, it’s a vast improvement from the Q Bay site, where only three bidders participated.”

 

“The bids could be encouraged by the sell-out of J Gateway as well as the announcement to make Tampines North ... a bustling new town in the coming years,” she added.

Edited July 17, 2013 by Wt_know

[Wt_know]

cannot afford PC can go EC

but EC price also trailing behind very closely

i always heard the sales mentioned 30% cheaper ... nabei where is the word cheap come from?

tax payer money is used to fund buyer to buy $700K-$800K executive condo? simi logic???

not forgetting the larger units and penthouses that cost $1M and above

 

http://www.todayonline.com/business/strong...likely-continue

 

SINGAPORE — Demand for executive condominiums (ECs) has remained buoyant, with another such private-public housing development receiving a robust response at its opening weekend.

 

The 380-unit Lush Acres in Sengkang by City Developments was oversubscribed by about 1.6 times as of Sunday, the developer said yesterday.

 

The announcement followed the launch a week earlier of Ecopolitan in Punggol by Qingjian Realty, which received more than 1,000 applications for its 512 units.

 

Analysts TODAY spoke to said the rising cost of private homes has contributed to the popularity of the relatively more affordable ECs.

 

Data from the Urban Redevelopment Authority has shown growing sales of ECs in recent months, peaking at 457 units in May before moderating to 313 last month.

 

“When prices of mass market condominiums go beyond a certain level, ECs become a good option for people to upgrade their houses at an affordable price,” said Mr Nicholas Mak, Executive Director for Research and Consultancy at SLP International Property Consultants.

 

“ECs have the features of condominiums and typically are priced at S$700 to S$800 per square foot, which is about 30 per cent cheaper than private condominiums,” he said.

 

ECs can also enjoy capital appreciation as attractive as that of a private residence, according to Ms Christine Li, Head of Research and Consultancy at property firm OrangeTee.

 

“The price gap between mass market private property and the EC has widened, which makes ECs a better choice. From what we see with ECs that were launched in the 1990s, when they turned private after 10 years, their value can be as close as 5 per cent to a mass market condo,” she said.

 

She added that, with the prices of mass market private residences or those in the suburban areas not likely to decline in the near future, the appetite for the hybrid private-public homes will continue to be strong.

 

“The land cost for mass market private condos has gone up by 30 to 40 per cent in one year … and if you work out the figures, you can see that the price of new launches will not go below S$1,000 per square foot,” Miss Li said.

 

Three more EC developments are in the pipeline and will be launched by the end of this year. They are Sea Horizon in Pasir Ris, Waterwoods in Punggol and SkyPark Residences in Sembawang.

 

Another two sites were sold under the Government Land Sales programme in May, but the winning developers are only allowed to launch units for sale 15 months from the date of award of the sites, or after the physical completion of foundation work, whichever is earlier.

Edited July 17, 2013 by Wt_know

[RadX]

ello your title can be specific anot....can be car loan, house loan blah blah, loanshark

 

edited for clarity.......

[Mustank]

today eh poh zua say they gonna sell at least $1100

[Mustank]

ello your title can be specific anot....can be car loan, house loan blah blah, loanshark

 

edited for clarity.......

 

nowadays i wait for poeple create thread then come in and play

[Wt_know]

can the govt regulate ec land sales

not top bidder wins. like childcare centre, the bidder must provide proposal for go green building & recycle technology, how to reduce building cost, facilities for community, etc

highest bidder wins will only drive up cost for PUBLIC HOUSING ... isn't EC is PUBLIC HOUSING?

Edited July 17, 2013 by Wt_know

[Soya]

nowadays i wait for poeple create thread then come in and play

 

wah sei....china developer ah? eh, can u tar pau some popcorn and we relak one corner and watch the free PRC, FT, gahmen bashing show (tho it's probably the same ol' storyline...... )

 

[Animian]

can the govt regulate ec land sales

not top bidder wins. like childcare centre, the bidder must provide proposal for go green building & recycle technology, how to reduce building cost, facilities for community, etc

highest bidder wins will only drive up cost for PUBLIC HOUSING ... isn't EC is PUBLIC HOUSING?

 

EC not exactly public housing cos after 10 years it is private and can be sold at HUGE profit cos they got subsidies when launched

Edited July 17, 2013 by Animian

[Duckduck]

hahah gd luck all those buying. ask anyone who just got keys in recently TOP china developer condos.. all sorts of defects n quality issues.

[Wt_know]

oh yeah miss out this point.

tax payer money is used to fund buyer to buy condo at a discount (so to speak) and then allow them to make a HUGE profit after enjoying the discount (5 years sell to PR, 10 years sell to foreigner)

 

EC not exactly public housing cos after 10 years it is private and can be sold at HUGE profit cos they got subsidies when launched

Edited July 17, 2013 by Wt_know

[Mustank]

can the govt regulate ec land sales

not top bidder wins. like childcare centre, the bidder must provide proposal for go green building & recycle technology, how to reduce building cost, facilities for community, etc

highest bidder wins will only drive up cost for PUBLIC HOUSING ... isn't EC is PUBLIC HOUSING?

 

EC is a very good tool to control reales HDB price

you see ah: most buyer of EC are 2nd timer

they have to sell their flat 6 months after TOP

let say 1 EC got 60% 2nd timer and 1 EC got 400 unit, so 2nd timer is 240 units

so when 1 EC TOP, 240 resale hdb are released into the market

viola!!! HDB resale price is somewhat controlled

 

At the same time, when people buy EC, they also have to pay Govt for the land cost (now is about $300psf)

Govt earn $300 and can somewhat control reslae price

Edited July 17, 2013 by Mustank

[Wt_know]

i don't quite agree on this upgrader scheme

in order to be eligible for ec, their household income is <$12K ... big deal

if can afford and want to live in ec, then forgo govt subsidy la

 

EC is a very good tool to control reales HDB price

you see ah: most buyer of EC are 2nd timer

they have to sell their flat 6 months after TOP

let say 1 EC got 60% 2nd timer and 1 EC got 400 unit, so 2nd timer is 240 units

so when 1 EC TOP, 240 resale hdb are released into the market

viola!!! HDB resale price is somewhat controlled

 

At the same time, when people buy EC, they also have to pay Govt for the land cost (now is about $300psf)

Govt earn $300 and can somewhat control reslae price

Edited July 17, 2013 by Wt_know

[Mustank]

wah sei....china developer ah? eh, can u tar pau some popcorn and we relak one corner and watch the free PRC, FT, gahmen bashing show (tho it's probably the same ol' storyline...... )

 

join in see free show

[Mustank]

i don't quite agree on this upgrader scheme

in order to be eligible for ec, their household income is <$12K ... big deal

if can afford ec, then forgo govt subsidy la

 

you more than 12k issit?

[Observer]

willing buyer willing seller...can only blame ourselves for eating whatever thrown to us.

[Joseph22]

EC is a very good tool to control reales HDB price

you see ah: most buyer of EC are 2nd timer

they have to sell their flat 6 months after TOP

let say 1 EC got 60% 2nd timer and 1 EC got 400 unit, so 2nd timer is 240 units

so when 1 EC TOP, 240 resale hdb are released into the market

viola!!! HDB resale price is somewhat controlled

 

At the same time, when people buy EC, they also have to pay Govt for the land cost (now is about $300psf)

Govt earn $300 and can somewhat control reslae price

you mean it push up the price of resales hdb.

 

notice that HDB only push out EC when price is raising??

 

they make it sound like trying to help the sandwich class. but actually. ..

[Wt_know]

yeah ... $12,500 ... big deal

cannot buy 1st hand hdb/bto

cannot buy 1st hand ec

cannot afford pc

 

last choice is iskandar 5000 sqft bungalow liao

 

you more than 12k issit?

Edited July 17, 2013 by Wt_know

[Mustank]

yeah ... $12,500 ... big deal

cannot buy 1st hand hdb/bto

cannot buy 1st hand ec

cannot afford pc

 

last choice is iskandar 5000 sqft bungalow liao

 

i know already!!! your one is

 

12k< X < 20k