Private property prices... Up or Down?

[Yewheng]

https://sg.finance.yahoo.com/news/slash-condo-prices-developers-fear-025312157.html

 

If they can't sell all units before the extention charges, serve them right as they are given ample of time to sell in the market. It's just that they die die do not want to reduce price but come out of a lot of gimmicks to sell. Now nearing the extention charges period and start to panic lao. They start to reduce price now. If can sell all good, if not too bad..

Edited May 5, 2016 by Yewheng

[Porker]

http://www.theedgeproperty.com.sg/content/living-two-skys

Living on two SKYs

May 4, 2016

 

Sky Vue — Affordable living in a premium location

What is the writer smoking? How can Bishan be a premium location? It's a HDB estate with shitty slow transportation to the city

[car50]

1550-1600pfs???!!!

 

That's crazy price.

 

 

 

However, think this is marketing strategy

 

They will give 10-15% discount

 

 

 

 

 

In view of the launch of Stars of Kovan this coming weekend, I cannot resist putting up this 'old post' (dated 18 Apr, in the thread "New Bargains to be had?") edited with updates.

 

----------------------

Stars of Kovan, a new condominium development at the junction of Tampines Road and Upper Serangoon Road, is going to be launched when its showflat opens on 30 Apr 2016. Latest update: 7 and 8 May for registered clients (closed-door preview).

 

What can be expected?

 

395 residential units, 46 retail shops. 

 

1 bedroom - 90 units (506sf) from $710K

 

2 bedroom - 240 units (743/764sf) from $1.05M

 

3 bedroom - 60 units (958sf) from $1.37M

 

Strata house - 5 units (1830sf).  Pricing unknown.

 

The land sales was done in 27 Nov 2014, at a bid price of $849psf ppr, higher than the bid price of $775psf ppr for Poiz Residences, which means that it is priced higher than Poiz Residences (although the latter is nearer to downtown), perhaps at an average price of $1,500psf upwards (Poiz Residences achieved an average price of $1,433psf)  (Info from Edge Property Website). 

 

Latest update:

average price of $1,550 to $1,600, according to its marketing agent, CBRE. 

 

This development is very near to Kovan MRT (a short walk) and is a short drive away from KPE. 

 

This development will set a new benchmark for condo prices around the Kovan MRT, as the nearby completed developments like Kovan Melody and Kovan Residences were recently transacted at an average of $1,000psf to $1,100psf.    

 

The developer is promising surprises for registered buyers at the launch.   We can only await and see what strategy the developer is adopting to generate sales in this price-sensitive property market that we are in now.

 

----------------

 

A few bros have contributed the following insightful feedback about this development, after my post was put up:

 

1) Size of 3 bedroom is so small... Less than 1000sqf               

2) For that crap location, and at current market, only a gian png will pay anything more than $1150psf for it.

3) "Perhaps at an avg price of $1500psf upwards" when the completed devt in the area is going for up to $1100psf?

Getting near to $1200 is a feat in itself liao...

4)  This one at the junction of tampines road and U serangoon and only 200m from kovan MRT will generate interest for sure

5) Anything above 1400pfs will be expensive

6) Will appeal to Families staying around the area and wish to stay near parents 

7) Cheung Kong projects are usually at a premium as well. A certain degree of uncertainty with costs going forward. But not sure if they are able to pull off benchmarking selling price at FH tenures prices.

 

Shall we all wait for the sales updates on the Stars of the Kovan (or will the developer sees stars instead?) in the following week or so?
 

 

[Throttle2]

Sell sure can sell some lah.

There will always be people who need and fools.

 

But can sell all or not?

Definitely not.

 

Additional supply snowballs.

Dont need to be mr know it all to know the above.....

 

Scene by scene unfolding as we predicted.

I havent been proven wrong yet til date.

 

All is take is some logic and some maths to tell you where things are headed.

Next few weeks, heads will roll in several financial institutions, reported liao.

Then we see.....

[Mercs]

http://www.theedgeproperty.com.sg/content/just-sold-two-hdb-flats-sold-above-900k

JUST SOLD: Two HDB flats sold above $900k

May 5, 2016

 

A five-room HDB flat at Buona Vista Court on Holland Drive was sold for $945,000 on April 22. Excluding Pinnacle@Duxton, it is the fourth most-expensive transaction for five-room flats this year.

 

Buona Vista Court has recently fulfilled its five-year minimum occupation period. Another five-room flat in the project was also sold above $900,000 in March.

 

A total of six HDB flats changed hands above $900,000 so far this year, excluding Pinnacle @ Duxton, on par with the same period last year.

 

Separately, another a 1,506 sq ft maisonette flat at 60 Dakota Crescent fetched $935,000, making it the third most expensive maisonette in Geylang town historically. The most expensive transaction in Geylang town was for a 1,646 sq ft maisonette, which was sold for $950,000 in March.

[Mercs]

http://business.asiaone.com/property/news/over-1800-hdb-flats-sold-april-highest-property-cooling-measures-introduced

Over 1,800 HDB flats sold in April, highest since property cooling measures introduced

May 05, 2016

 

A total of 1,828 Housing and Development Board (HDB) flats were resold last month, the highest number since property cooling measures were introduced nearly three years ago.

 

According to the latest HDB resale flash report by SRX Property, April 2016 saw a 10.3 per cent increase in the number of units resold compared to March 2013.

 

"The volume reprsents a record high since the recent cooling measures of the Additional Buyer's Stamp Duty (ABSD) and the Total Debt Servicing Ratio (TDSR) were introduced in 2013," SRX Property said.

 

Compared to a year ago, the resale volume has increased by 13.5 per cent, compared to the 1,610 units resold in April 2015.

[Mercs]

http://www.propertyguru.com.sg/property-management-news/2016/5/124380/luxury-home-prices-up-5-4-in-q1

Luxury home prices up 5.4% in Q1

May 5, 2016

 

Singapore recorded the eighth largest growth in luxury home prices in Knight Frank’s latest Prime Global Cities Index, with values rising 5.4 percent in Q1 2016 from a year ago.

 

“The annual price increase signals ‘green shoots of recovery’ for the ultra-luxury segment, as high-net worth individuals see rising value proposition for Singapore luxury homes after a prolonged two-year period of price declines,” said Alice Tan, Research Head at Knight Frank Singapore.

 

In fact, a number of these prime units were sold at prices surpassing market expectations in the first quarter, she noted.

 

Tan explained that the return of wealthy buyers shows their preference for Singapore homes and their confidence in the country’s long-term outlook. This is on the back of its safe haven status, stable economic fundamentals and growing importance as a key gateway city in Asia. Another plus factor is the premium quality of high-end homes here, which now offer greater value compared to most gateway cities.

 

Similarly, data from the Urban Redevelopment Authority (URA) shows that luxury home prices in Singapore’s Core Central Region (CCR) edged up by 0.3 percent quarter-on-quarter, driven by healthy sales in well-located projects in the prime districts.

[Mercs]

http://www.theedgeproperty.com.sg/content/buyers-return-after-waiting-curb

Buyers return after waiting on the curb

May 5, 2016

 

The residential market has stirred again as developers step up marketing efforts ahead of the June school holidays. In addition to the brisk sales at recent launches, existing projects witnessed a spike in sales in March and April. Sales also received a boost from pent-up demand as the government reiterated its stance against tweaking the cooling measures.

 

 

The Terrace EC in Punggol sold 37 units in March and at least another 37 units in April, or a total of 74 units over both months.

 

The Amore, The Vales and The Brownstone moved at least 69, 62 and 58 units respectively in March and April.

 

 

The Poiz Residences topped the sales chart in March and April with at least 91 units sold with prices averaging $1,513 psf.

 

Kingsford.Hillview Peak trailed closely behind with at least 79 units sold.

 

At Botanique at Bartley, UOL sold at least 74 units in March and April.

 

Elsewhere, Kingsford Waterbay, Lakeville, Sims Urban Oasis, Sky Vue, Symphony Suites, The Glades and The Trilinq moved 30 to 40 units each over March and April.

[Mercs]

http://www.straitstimes.com/business/property/price-cuts-at-some-housing-projects-help-boost-sales

MAY 5, 2016

 

Ardmore Three in Ardmore Park has sold about 20 units since relaunching last month at effective prices of about $2,600 to $2,700 per sq ft (psf)

Sales are decent considering most units at the project go for about $5 million.

 

Highline Residences in Kim Tian Road was relaunched this past weekend, selling about 20 units. These were priced at about $1,850 psf, slightly lower than average prices of about $1,900 psf when it was launched in September 2014.

 

A bulk sale of 20 units was recently struck at Starlight Suites in River Valley Close. Pricing is said to be about $1,500 psf.

 

There has been more interest in Orchard properties recently, with OUE selling about 30 units at Twin Peaks over the last weekend and close to 100 units since the Good Friday weekend.

 

More sales activity is expected this weekend, with the new launch of Stars at Kovan.

 

"It is now a good window period for buyers to purchase a well-located prime property in districts 9 and 10," said Mr George Tan, senior director at Savills Residential.

[Showster]

If sell all so easily, Raymond Wong will have a big headache. Give young people a chance.

 

Sell slowly, only allow those with clear need or purpose in mind to buy. Just like the COE market.

 

Mainly clearing the previous supply now. It should take years. Give everyone time to think, ponder, consolidate. Continue to not give speculators reasons to come in.

 

 

 

Sell sure can sell some lah.

There will always be people who need and fools.

 

But can sell all or not?

Definitely not.

 

Additional supply snowballs.

Dont need to be mr know it all to know the above.....

 

Scene by scene unfolding as we predicted.

I havent been proven wrong yet til date.

 

All is take is some logic and some maths to tell you where things are headed.

Next few weeks, heads will roll in several financial institutions, reported liao.

Then we see.....

Edited May 5, 2016 by Showster

[Mercs]

http://sbr.com.sg/residential-property/in-focus/singapores-property-market-headed-faster-expected-recovery

Is Singapore's property market headed for a faster-than-expected recovery?

May 6, 2016

 

The price uptick in the CCR is promising.

 

Has Singapore’s property market finally hit bottom? Analysts say that the unexpected increase of prime home prices in the first quarter might indicate that the property market may be recovering sooner than expected.

 

“This rate of increase can be considered to be moderate, but it may signal the beginnings of a market recovery,” says Darius Cheung, Co-founder and Chief Executive Officer, of online startup and property portal 99.co.

 

An analysis by 99.co shows that since 2004, homes in the Core Central Region (CCR) tend to be the first to recover from a downturn ahead of peripheral areas.

 

“Market behavior and corresponding rise or fall in prices in the CCR region is indicative of how property in Singapore is expected to perform. CCR is rebounding and we expect the rest of Singapore’s outer regions to step in and follow suit as prices start climbing steadily,” Cheung said.

[Throttle2]

*yawn*

 

Going back to bed

[Newbie26]

Actually why are we talking about prices starting to climb up when prices esp in OCR, RCR have hardly dropped

 

So that means Kovan launching 1550-1600pfs may sell at 1800pfs in the near future  since CCR recovery will raise all ships

 

What happened to all doomsday scenarios,  unsold inventory, interest rates up, ABSD for developers, recession

economy tanks, CMs to be removed etc etc

 

Many still waiting for prices to plunge

http://sbr.com.sg/residential-property/in-focus/singapores-property-market-headed-faster-expected-recovery
Is Singapore's property market headed for a faster-than-expected recovery?
May 6, 2016

The price uptick in the CCR is promising.

Has Singapore’s property market finally hit bottom? Analysts say that the unexpected increase of prime home prices in the first quarter might indicate that the property market may be recovering sooner than expected.

“This rate of increase can be considered to be moderate, but it may signal the beginnings of a market recovery,” says Darius Cheung, Co-founder and Chief Executive Officer, of online startup and property portal 99.co.

An analysis by 99.co shows that since 2004, homes in the Core Central Region (CCR) tend to be the first to recover from a downturn ahead of peripheral areas.

“Market behavior and corresponding rise or fall in prices in the CCR region is indicative of how property in Singapore is expected to perform. CCR is rebounding and we expect the rest of Singapore’s outer regions to step in and follow suit as prices start climbing steadily,” Cheung said.

 

[Wt_know]

in hokkien we called it "tan ku ku"

 

Actually why are we talking about prices starting to climb up when prices esp in OCR, RCR have hardly dropped

 

Many still waiting for prices to plunge

Edited May 7, 2016 by Wt_know

[Mercs]

http://www.theedgeproperty.com.sg/content/hefty-profits-old-freehold-condo-units

Hefty profits from old, freehold condo units

May 7, 2016

 

The top gain, which amounted to a whopping $2.3 million, accrued to a 1,916 sq ft unit at The Beaumont on Devonshire Road. The unit on the seventh floor was purchased for $1.6 million ($825 psf) in 2005 and resold in April this year for $3.9 million ($2,029 psf). This translated into an annualised gain of 9%. The Beaumont is a 64-unit freehold condo, which was completed in 1985.

 

Separately, a 1,335 sq ft unit at Tanglin Park netted a $1.2 million profit for the seller. The unit was purchased in September 2006 for $1.2 million ($928 psf) and resold last month for $2.5 million ($1,864 psf), yielding an annualised gain of 8%. Tanglin Park is a 274-unit freehold condominium, which was completed in 1988.

 

The last million-dollar profit was traced to a 1,507 sq ft unit at Chatelet on Margoliouth Road. The seller reaped a $1.1 million profit from the sale last month for $2.1 million ($1,394 psf). He purchased the unit in October 2006 for $1.1 million ($709 psf).

 

 

The most profitable deal for landed homes accrued to a 1,539 sq ft terrace house in Bowmont Gardens. The transaction yielded a $2 million profit for the seller, or an annualised gain of 8%. The house was purchased in April 2000 for $840,000 ($546 psf) and resold last month for $2.8 million ($1,839 psf).

 

Meanwhile, another terrace house on Hythe Road was sold for a $1.9 million profit after being held for slightly above four years. This translated into an annualised gain of 13%. The seller purchased the property for $3 million ($828 psf) in March 2012 and resold it for $5 million ($1,344 psf) last month.

[Wt_know]

hmm ... that's how T2 made a killing in property?

buy high sell higher ...

 

Meanwhile, another terrace house on Hythe Road was sold for a $1.9 million profit after being held for slightly above four years. This translated into an annualised gain of 13%. The seller purchased the property for $3 million ($828 psf) in March 2012 and resold it for $5 million ($1,344 psf) last month.

 

 

Edited May 7, 2016 by Wt_know

[Showster]

hmm ... that's how T2 made a killing in property?

buy high sell higher ...

Cannot be T2. According to him, whoever buys in 2012 is a fool and can only lose. The wise will only sell at those periods.

[Wt_know]

i know ... if this guy can make 1.9 ...

may be T2 made smelly smelly 2.9 selling at its high ... ... hehe

 

Cannot be T2. According to him, whoever buys in 2012 is a fool and can only lose. The wise will only sell at those periods.

 

Edited May 7, 2016 by Wt_know