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Private Property prices......still up or down? Part II

RadX

By RadX,
in Property Buzz

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Wind30

Wind30

Turbocharged

Maybe you should try to use Google Map and switch to Satellite image to see the only remaining undeveloped areas in Singapore, and how tough / expensive it is to use the areas that haven't yet been developed yet. See carefully where the water bodies are as well in case some of it is mistaken as land.

 

HDB, LH and FH private, landed etc, any dot you can pin / hold in this area is inherently worth a lot. . The only real difference is how much the banks allow you to recognise the value.

 

I have and that is why I said land is not a problem. do you know how much land on the average the government releases for private condos? It is really not a lot.

 

There is still plenty of land in Singapore

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Showster

Showster

Twincharged

I have and that is why I said land is not a problem. do you know how much land on the average the government releases for private condos? It is really not a lot.

 

There is still plenty of land in Singapore

Do you know how many plots they used to be able to release?

 

Not so far back, just think back to 2012.

 

See the numbers of HDBs built across Sengkang / Punggol and the whole Woodleigh stretch, as well as the numerous private units in District 5, Queenstown, east side etc.

 

It will be extremely hard to find plots to build at that speed, not at least until VERS begin twenty years later.

 

Every existing town has only a few plots left.

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bsswan

bsswan

6th Gear

I have and that is why I said land is not a problem. do you know how much land on the average the government releases for private condos? It is really not a lot.

 

There is still plenty of land in Singapore

 

 

I tend to agree...... and there will be a bucket more when all the container terminals move to Tuas.

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Wind30

Wind30

Turbocharged

Do you know how many plots they used to be able to release?

 

Not so far back, just think back to 2012.

 

See the numbers of HDBs built across Sengkang / Punggol and the whole Woodleigh stretch, as well as the numerous private units in District 5, Queenstown, east side etc.

 

It will be extremely hard to find plots to build at that speed, not at least until VERS begin twenty years later.

 

Every existing town has only a few plots left.

 

??? u know that all the HDB is built over 50 years....

 

just look at how much land is needed every year recently and I bet we have enough for the next 20 years without even touching paya lebar or the PSA port. 

 

Especially our population is not increasing at such a fast rate any more. There just isn't the need to built up that quickly. 

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Enye

Enye

Hypersonic

need to build up many more units because foreigners with bags of cash are clamouring to come to our little island to park their wealth

 

land no enough

 

 

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Mercs

Mercs

Hypersonic

https://www.straitstimes.com/business/property/new-private-homes-sold-in-2018-drop-16-to-9714-units-december-sales-up-40-on-year

New private homes sold in 2018 drop 16% to 9,714 units; December sales up 40% on-year to 602 units: URA data

Jan 15, 2019

 

Developers in Singapore sold 602 private homes in December, about half the 1,201 units they moved in November 2018 but up nearly 40 per cent from 431 units sold in December 2017.

 

This came as the number of new launches dropped off during the holiday period in December. Developers released 101 private homes in December - down 92 per cent from the bumper 1,342 units launched in November and down 56 per cent from 231 units released in December 2017.

 

For the whole of last year, developers sold 9,714 private homes (excluding ECs), down 16 per cent from the 11,562 units they moved in 2017.

https://www.businesstimes.com.sg/real-estate/singapore-private-home-sales-units-launched-down-month-on-month-in-december

 

Of the 602 units sold in December, 16 were in the core central region (CCR), 293 were in the rest of the central region (RCR) and another 293 were outside the central region (OCR).

 

During the month, developers released 101 new units for sale (excluding ECs), slumping around 92 per cent from November when 1,342 units were launched. Of the 101 units released for sale, only one was in the CCR, and the remaining 100 were in OCR over at the Affinity at Serangoon.

 

 

"Despite no new launch in December, sales momentum of earlier launched projects continued even after their initial launch. This largely showed that developers have gotten their product mix and pricing spot on." The top five projects in December were Parc Esta, Whistler Grand, Riverfront Residences, Parc Colonial and Stirling Residences.

 

Other properties which saw double-digit sales include The Tapestry, Affinity at Serangoon, Belgravia Green and Parc Botannia.

 

Sales demand was relatively healthy considering that no new projects were launched last month and that December is traditionally a lull period for buying given the year-end holidays. The number of units lauched in December was the lowest number of units launched in any month last year.

 

Noting that the underlying demand for properties remained strong last year, "Ending 2018 on a strong note will give developers confidence to push out launches in 2019. Strong crowds witnessed at showflat previews also auger well for the property market in 2019."

 

"The ongoing sales momentum at several new projects may indicate that the property market could be reaching equilibrium soon as prices are stabilising and more buyers are streaming back." Estimated that a bumper crop of 19,000 to 21,000 new homes from over 60 new projects could be launch-ready this year.

 

"We anticipate that the current buying momentum will continue and the supply-led demand may see developers’ home sales reaching 10,000 to 11,000 units for 2019. Many projects are expected to be launched after Chinese New Year, including The Florence Residences and Treasure @ Tampines."

 

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Roh96

Roh96

6th Gear
(edited)

Correct lah, those news with pictures showing crowded showrooms, big headlines such as 2000 crowd or 5000 crowd...at the end only close 600 sales. Piang eh! Keeps drumming up the market.

 

As for the argument on limited land in Spore, i thot this is already a fact since 20 or even 30 yrs ago. Please tell me what you know that ppl in 1997 crisis or 2002 crisis don't know.

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Showster

Showster

Twincharged
(edited)

Correct lah, those news with pictures showing crowded showrooms, big headlines such as 2000 crowd or 5000 crowd...at the end only close 600 sales. Piang eh! Keeps drumming up the market.

 

As for the argument on limited land in Spore, i thot this is already a fact since 20 or even 30 yrs ago. Please tell me what you know that ppl in 1997 crisis or 2002 crisis don't know.

But never before were there such a plethora of measures pulling the bull. Never, not in 1997 nor 2002. Some measures employed can only be found in SG, implemented solely to pull the horses.

 

The potential of this mass just keeps building up. Prices have not run up greatly solely because of measures. Which other country have this arrangement to cope with limited land and suppressed /pent up demand?

 

Throughout all this Rara and papaya and stock movement, I have actually earned enough to buy one more if stretch. But probably won’t pay 15% ABSD as I am happy with what I have currently. Will be watching the property market closely though.

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Mercs

Mercs

Hypersonic
https://www.straitstimes.com/business/property/new-private-homes-sold-in-2018-drop-16-to-9714-units-december-sales-up-40-on-year

December new home sales drop due to absence of new launches, slowdown due to holidays

Jan 15, 2019

 

It was the highest number of sales in the month of December since 1,410 units were sold in December 2012.

 

Developers launched an estimated 8,773 private residential units and sold an estimated 9,264 units (excluding ECs) in the whole of last year.

 

About 40 per cent of developer sales were transacted in the last five months of 2018.

 

Analysts say this indicated that sales demand is encouraging despite market challenges such as the July 6 cooling measures, more curbs on shoebox units being built in certain locations, rising interest rates, stock market fluctuations and rising trade tensions between the US and China.

 

"While the macro-economic conditions remain uncertain, Singapore's economic growth and job market are expected to remain firm this year."

(Whistler Grand showroom during its first weekend launch in November, 2018. The condominium in West Coast sold another 128 units in December)

post-18880-0-64993700-1547566461_thumb.jpg

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sginvestor

sginvestor

1st Gear

Hey, how come no news or analyst talk about Kampong Java site tender?

 

12,833 psm GFA.

 

Good or bad?

 

How does it compare to previous sales?

 

Drop in sight?

 

Ok found it!

 

https://www.edgeprop.sg/property-news/tender-closes-government-land-tenders-kampong-java-road-and-club-street

 

seems like a good price for the developer -  $1,192 psf... too much supply

that's only 10% more expensive than Park Colonial Woodleigh site

 

not too sure about the attributes of the Kampong Java site - will it be noisy, being too near the flyover? 

bear in mind the min average size of 85sqm...

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Volvobrick

Volvobrick

Supersonic

I tend to agree...... and there will be a bucket more when all the container terminals move to Tuas.

Add Paya Lebar Airbase to the list when it shifts to Changi. Surrounding areas can build up 50 Storey too.

 

Maybe they should move Seletar airport to Changi too since Madhatter is screwing its operations. More land!

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Showster

Showster

Twincharged
(edited)

Add Paya Lebar Airbase to the list when it shifts to Changi. Surrounding areas can build up 50 Storey too.

 

Maybe they should move Seletar airport to Changi too since Madhatter is screwing its operations. More land!

After 2030.

 

Whatever we have now 30K, 50k, 80k, must last a dozen years!

Edited by Showster
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Showster

Showster

Twincharged

Maybe we should keep it as an airbase... since we have so much surplus homes coming online..

Remember we had an even larger supply in 2012, and still had to launch more measures to keep the lid from flying off.
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