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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
(edited)
  On 1/19/2019 at 2:32 AM, Showster said:

It’s already in the Chinese news that future trends for private homes in terms of unit offering does not bode well for buyers. Probably, even if cheaper, they might be shunned as they would deviate from current conventions.

 

Fewer carparks. Probably have to pay for actual carpark use.

 

Even smaller / absent internal room structure. From 2 shower and toilets to 1. Not sure whether bomb shelter might be scrapped (probably already is for some), but the kitchens and washing machine facilities might be removed from smaller units altogether and designated as common facilities shared across a few units or the whole development.

 

Scrapping the kitchen / yard and other rooms means developers save as there is no need to provide washing machine and stove facilities.

 

The authorities actually increased communal space provision in the last CM, while decreasing the parking requirements, and restricting balcony space. How do you think developers would respond?

 

Psf trend will definitely drop but there will be a marked product differentiation between the currently approved units and future approved units, just as there is a size differentiation between condos approved and built before 2009 and those between 2009 and 2019.

 

I can't find this fewer carpark ruling. Any link? It must be a minor point cuz most of the reports focused on the increased in unit size, less balcony space.

 

The news I read is actually overwhelmingly positive for home buyers. Bigger liveable space (less balcony, yeah!) for the same price. Lower developer margins (that is why the land cost needs to be lower) To me it is a huge gain for homebuyers, as long as you have one car park, the increase in living space is huge. 

 

No matter how you spin it, the decrease in land bidding price from developers will translate to some savings for home buyers. As a home buyer you NEVER want the develop to bid expensive for the land....

 

https://www.straitstimes.com/business/ura-cuts-number-of-units-allowed-to-be-built-in-condos-private-flats

 

https://www.todayonline.com/singapore/ura-tightens-rules-curb-proliferation-shoebox-units-heartlands

 

https://blog.seedly.sg/property-investing-ura-new-ruling-bigger-shoebox-units-smaller-developers-margins/

Edited by Wind30
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Wt_know

Wt_know

Supersonic
(edited)
  On 1/19/2019 at 2:32 AM, Showster said:

Itâs already in the Chinese news that future trends for private homes in terms of unit offering does not bode well for buyers. Probably, even if cheaper, they might be shunned as they would deviate from current conventions.

 

Fewer carparks. Probably have to pay for actual carpark use.

 

Even smaller / absent internal room structure. From 2 shower and toilets to 1. Not sure whether bomb shelter might be scrapped (probably already is for some), but the kitchens and washing machine facilities might be removed from smaller units altogether and designated as common facilities shared across a few units or the whole development.

 

Scrapping the kitchen / yard and other rooms means developers save as there is no need to provide washing machine and stove facilities.

 

The authorities actually increased communal space provision in the last CM, while decreasing the parking requirements, and restricting balcony space. How do you think developers would respond?

 

Psf trend will definitely drop but there will be a marked product differentiation between the currently approved units and future approved units, just as there is a size differentiation between condos approved and built before 2009 and those between 2009 and 2019.

in future moving to Thailand or Msia

condo no 1500sqft no talk

heng ah!

Edited by Wt_know
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Showster

Showster

Twincharged
(edited)
  On 1/19/2019 at 3:21 AM, Wind30 said:

I can't find this fewer carpark ruling. Any link? It must be a minor point cuz most of the reports focused on the increased in unit size, less balcony space.

 

The news I read is actually overwhelmingly positive for home buyers. Bigger liveable space (less balcony, yeah!) for the same price. Lower developer margins (that is why the land cost needs to be lower) To me it is a huge gain for homebuyers, as long as you have one car park, the increase in living space is huge.

 

No matter how you spin it, the decrease in land bidding price from developers will translate to some savings for home buyers. As a home buyer you NEVER want the develop to bid expensive for the land....

 

https://www.straitstimes.com/business/ura-cuts-number-of-units-allowed-to-be-built-in-condos-private-flats

 

https://www.todayonline.com/singapore/ura-tightens-rules-curb-proliferation-shoebox-units-heartlands

 

https://blog.seedly.sg/property-investing-ura-new-ruling-bigger-shoebox-units-smaller-developers-margins/

https://www.channelnewsasia.com/news/singapore/lta-new-parking-standards-car-park-developers-10912218

 

Ok happy reading and learn about 声东击西。

 

Read the table carefully.

Edited by Showster
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golden_eagle

golden_eagle

2nd Gear
  On 1/18/2019 at 10:57 AM, Wind30 said:

https://sbr.com.sg/residential-property/news/kampong-java-road-residential-site-clinched-41838m

 

wow the bid price is really low... that is bad for the market....

 

Will see it pull down index by 0.01% this year. 

  On 1/12/2019 at 11:52 AM, golden_eagle said:

 

still, what are those two curves? are those side lines? 

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Icedbs

Icedbs

Turbocharged

Guys, be very careful of some of the new launches. Last night I was analyzing one of the new launch and the asking is way off but I still see people buying it every week. 

 

It will be D4 of 2008 all over again for that new launch.

 

On the other hand, I saw another city fridge new launch that is asking at almost resale prices...which is quite unbelievable. I have to do my sums twice just to believe what I calculated. To me this one is like a hidden gem.

 

My point is that with almost 50-60 launches this year, please analyse carefully before buying any new launch. Their prices are all over the spectrum and some people will be sucked in at high prices with the many new launches hype this year.

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Sdf4786k

Sdf4786k

Twincharged
  On 1/18/2019 at 10:30 AM, Mercs said:

 

Can I check. 

 

When you sell the HDB and go buy a private Property, you will need to pay a quatem interest when you buy the HDB again. 

 

Is the interest that is paid going to the buyer CPF acct or is it going to the CPF govt ?

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Showster

Showster

Twincharged
  On 1/19/2019 at 9:53 AM, Sdf4786k said:

Can I check.

 

When you sell the HDB and go buy a private Property, you will need to pay a quatem interest when you buy the HDB again.

 

Is the interest that is paid going to the buyer CPF acct or is it going to the CPF govt ?

Only heard of accrued interest, never heard of quatem interest.

 

Accrued interest is calculated for all usage of CPF.

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Mercs

Mercs

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  On 1/19/2019 at 9:53 AM, Sdf4786k said:

Can I check.

 

When you sell the HDB and go buy a private Property, you will need to pay a quatem interest when you buy the HDB again.

 

Is the interest that is paid going to the buyer CPF acct or is it going to the CPF govt ?

 

Here you go [:)]

 

https://services2.hdb.gov.sg/webapp/BB24SaleProceedCalculator/BB24SSaleProceedsCalc

 

  Quote

CPF Monies utilised

The amount of CPF monies utilised towards your purchase of the flat with accrued interest must be returned to your CPF Ordinary Account (OA) upon the sale of your flat. You can log into your CPF account with your Singpass to check on the amount of CPF monies to be refunded to your CPF Ordinary Account (OA)

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sginvestor

sginvestor

1st Gear
  On 1/19/2019 at 9:42 AM, Icedbs said:

Guys, be very careful of some of the new launches. Last night I was analyzing one of the new launch and the asking is way off but I still see people buying it every week.

 

It will be D4 of 2008 all over again for that new launch.

 

On the other hand, I saw another city fridge new launch that is asking at almost resale prices...which is quite unbelievable. I have to do my sums twice just to believe what I calculated. To me this one is like a hidden gem.

 

My point is that with almost 50-60 launches this year, please analyse carefully before buying any new launch. Their prices are all over the spectrum and some people will be sucked in at high prices with the many new launches hype this year.

What do you think about Park Colonial?
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Icedbs

Icedbs

Turbocharged
(edited)
  On 1/19/2019 at 12:27 PM, sginvestor said:

What do you think about Park Colonial?

 

 I have PM you my thoughts.  I don't want to look promoting or criticizing certain new launches, otherwise people will think I have an agenda.

Edited by Icedbs
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Mercs

Mercs

Hypersonic

New benchmark [sly] Chiong ah! [:p]

 

https://www.edgeprop.sg/property-news/seventy-units-sold-launch-weekend-fourth-avenue-residences

Seventy units sold on launch weekend at Fourth Avenue Residences

Jan 20, 2019

 

  Quote

The average price achieved for units sold in the first phase was $2,375 psf, after a 5% plus 3% early bird discount.

 

85% of the buyers are Singaporeans, with the remaining 15% made up of Singapore permanent residents and foreigners.

 

The 70-unit sales achieved at Fourth Avenue Residences is “remarkable” when compared to the monthly take-up of 32 units for new homes in the Core Central Region (including prime Districts 9, 10 and 11) from August to December 2018, following the cooling measures last July.

 

The average price of $2,375 psf represents “a new price benchmark for non-landed homes in the prime Bukit Timah locale"

post-18880-0-08652500-1547987849_thumb.jpg

post-18880-0-01042400-1547987862_thumb.png

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Nav14

Nav14

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  On 1/19/2019 at 9:42 AM, Icedbs said:

Guys, be very careful of some of the new launches. Last night I was analyzing one of the new launch and the asking is way off but I still see people buying it every week. 

 

It will be D4 of 2008 all over again for that new launch.

 

On the other hand, I saw another city fridge new launch that is asking at almost resale prices...which is quite unbelievable. I have to do my sums twice just to believe what I calculated. To me this one is like a hidden gem.

 

My point is that with almost 50-60 launches this year, please analyse carefully before buying any new launch. Their prices are all over the spectrum and some people will be sucked in at high prices with the many new launches hype this year.

Why don't you share with us which is the very reasonably priced city-fringe new condo or do we need to engage you as our agent to find out?

  On 1/19/2019 at 2:00 PM, Icedbs said:

 I have PM you my thoughts.  I don't want to look promoting or criticizing certain new launches, otherwise people will think I have an agenda.

Nothing wrong in giving your frank opinion about a project, negative or positive, as long as you do not openly market your services for the project.

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Wind30

Wind30

Turbocharged
(edited)
  On 1/21/2019 at 12:26 AM, Nav14 said:

Why don't you share with us which is the very reasonably priced city-fringe new condo or do we need to engage you as our agent to find out?

Nothing wrong in giving your frank opinion about a project, negative or positive, as long as you do not openly market your services for the project.

 

 

That is the way he posts I think. I feel the same way too. Always says there is "better methods" or "better deals" but never say what they are.

 

At the end of the day if not willing to share why even dangle the carrot in the first place? Maybe to get people to hire him as agent I guess.

 

I think all of us has our own agendas. Buyers want to look for good deals and trends. People who bought already want to know their investment is going up.

 

For me it is easy to recommend. I think old CCR resale are relatively decent deals like Visioncrest. $2k psf. Freehold. Right outside Dolby ghaut MRT. Super fast access to Plaza Sing basement through underpass just across the road.

 

Rental is not that great currently, maybe due to new competition from Oxley rise which just TOP. 

 

Still I think the location is unbeatable as it faces Penang/orchard road/Istana. 

 

So what is your "good deal" in the current market?:

Edited by Wind30
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Mercs

Mercs

Hypersonic

https://www.edgeprop.sg/property-news/roxy-pacific-achieves-15-sales-rate-two-projects-launch-weekend

Jan 20, 2019

  Quote

Over the weekend of Jan 19-20, listed developer Roxy-Pacific Holdings launched two projects in the prime districts: the 140-unit RV Altitude on River Valley Road in District 9 and the 71-unit Fyve Derbyshire at Novena in District 11.

 

As at 5pm on Sunday, Jan 20, a total of 20 out of 63 units launched at RV Altitude were sold, translating to a sales rate of close to 32% based on units launched. Prices achieved ranged from $2,729 to $3,100 psf.

 

Meanwhile, Fyve Derbyshire saw 13 out of 36 units launched snapped up on the launche weekend at prices from $2,200 to $2,700 psf. The sales rate for Fyve Derbyshire on the launch weekend was 36%.

(Crowd at the launch weekend of Fyve Derbyshire)

post-18880-0-81473100-1548069863_thumb.jpeg

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therock

therock

Supersonic

Owners in the vicinity will be very gleeful... it sets a new benchmark..

I saw an old Semi-D / corner terrace at Cherry Ave nearby... really old but it was sold for 4.5mil two years back. Now that same place would have gone up by 500k or more...

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