as we coming to end of 2011, what will the property trend be in 2012?

my personal opinion..
1) property prices like stock is driven by demand and supply.. Our population just crossed 5m and targeted to hit 6.5m.
2) Influx of foreigners and international events will lead to more investors coming to singapore
3) with 60% loan on second property, house owner now do not have the need to "fire sale"...

however, will we have a sustainable growth with the europe crisis and government measure?

The last measures seemed to take many by surprise. But from what I gather, it could be their 'pre-emptive' strike to warn off rapid rise in property price once the Euro crisis is again rescued by QE and US egaged in recovery growth path.

The negativity is there, the magnitude although is not yet 100% known, is already taken into account..

Here's another opinion.

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

Cooling measures bite market segments differently
by Ong Kah Seng
04:45 AM Dec 16, 2011

The year is ending on a sombre note for the private residential market, with severe cooling measures announced earlier this month imposing an additional buyers' stamp duty (ABSD) of 10 per cent on purchases by foreigners.

While prospective buyers, including locals who may be affected by the 3 per cent ABSD, are expected to remain on the sidelines in the next few months, not all private homes will suffer the same impact from the measures.


Landed homes seen resilient

Landed homes will likely be the most unscathed, while speculative products, such as shoebox apartments, will likely experience weakened buying interest. The difference is underpinned by product heterogeneity, foreigners' participation and also the financing capabilities of the buyers' for each product type.

Landed homes are expected to enjoy resilient buying interest next year, as the buyers are predominantly locals who are the least affected by the cooling measures while the supply of such homes is limited. However, non-landed residential properties in the prime districts, which are fairly exclusive, may be more affected as foreigners account for a large share of buyers.


Shoeboxes to be worst hit

Shoebox apartments, particularly those smaller than 500 sq ft each, have gained popularity from 2009 but the success is set to come to a halt next year. There is less motivation to consider buying smaller-sized apartments, particularly when average prices moderate. The typical buyer who finds the shoebox unit acceptable during the price run-up from 2009 to this year may no longer prefer such a home or investment if there are better and larger offerings.

Even before the latest cooling measures were imposed, various developments with shoebox units had been scheduled for completion next year, meaning there will be increased competition between sellers. Although owners will generally hold shoebox units, especially those who had purchased this year and want to avoid paying the hefty sellers' stamp duty, there are some who bought in 2009 and last year who have enjoyed capital appreciation and are considering selling.

Moreover, if a Singaporean can at most hold two private residential properties to avoid paying ABSD for his new purchase, there is less incentive to purchase a smaller-sized apartment. The buyer will likely wish to exercise his limited option on buying a larger or standard-sized unit. There may also be some shoebox home owners who hope to relinquish their units in order to go for more attractive larger sized apartments if prices ease next year.


Suburban condo interest not excessively weakened

The suburban condominium market, with fairly homogenous offerings, will likely see moderated buying interest due to economic challenges. However, as the buyers are mostly HDB upgraders or those owning fewer than two private properties, interest is unlikely to be excessively weakened by the ABSD.

Although the economic slowdown will severely affect job stability, there are still home seekers working in the "evergreen" or fairly recession-proof industries, such as oil and gas, education or statutory boards. They may have continued confidence in financing their homes and appropriately-priced suburban condominiums can appeal to this profile of buyers.

This year has been intense for the private residential market as prices jumped notwithstanding the cooling measures implemented in January that included sellers' stamp duties of as high as 16 per cent. While there is less justification for this month's cooling measures given that economic conditions had moderated late in the year, the latest measures are likely to achieve the best effect in reining optimism in market sentiment.

The dichotomy in the market means that owners of properties which are expected to see weaker buying interest should strive to hold on and emerge from the uncertainty. Property owners can also take a longer-term view by consenting to competitive rental rates, as ultimately there may be opportunities to renew leases at higher rents or even resell at better prices, should the economic and intrinsic property market fundamentals eventually improve.

Just wanted to wish everyone a happy new year. Wishing you and your loved ones good health, prosperity and success in 2012.

www.straitstimes.com Published on Jan 3, 2012

The Straits Times
Cooling measures may boost rental market

Additional buyers' stamp duty for foreigners a likely cause; locals may also wait for prices to come down

By Cheryl Lim

THE rental market could brighten for landlords this year as home buyers defer buying units in the wake of the recent cooling measures, say analysts. They believe the larger pool of tenants might stabilise the rental market or even drive a pick up of up to 5 per cent in rents over the next 12 months. These analysts' comments are a contrast to earlier expectations that rents were set to fall as a large supply of completed units come onto the market this year. Analysts had predicted a possible softening of rents this year due to the new private and public homes that will be completed within the next few months. But some consultants now say that foreigners considering buying might be persuaded to head to the leasing market, after being put off by the recent introduction of the additional buyers' stamp duty of 10 per cent. '(The measures) effectively increase their (financial) risks tremendously if they buy and... get reassigned elsewhere or lose their jobs (within the first two years),' said Mr Alan Cheong, head of research at Savills Singapore. 'Leasing has always been seen as a faster and easier decision to make as compared to buying a property because of the lower commitment level and the smaller amount of money required upfront,' said OrangeTee managing director Steven Tan. In the third quarter of last year, the Urban Redevelopment Authority (URA) rental index of non-landed homes showed increases compared with that of the previous quarter, although the index rose at a slower pace in the central regions and suburban areas. While demand from foreigners and expatriates is expected to be the main driver of the residential leasing market next year, the local factor cannot be ignored. There may be some locals who have sold and want to rent, and wait until they can buy at a cheaper price. There may also be locals who are now unwilling to sell their home given the weaker market. Mr Cheong suggested that the expected dip in rents is now unlikely, with the effects of the measures partially balancing it out. URA figures indicate that 9,584 apartments were completed between the third quarters of 2010 and 2011, with rents rising 6 per cent during that period. 'This suggests that rental demand was substantially greater than supply. Thus, barring external shocks or policy changes that affect immigration, rentals should at least be stable in 2012,' he said, noting that the rate of immigration is still strong and may remain so for years to come. Market watchers add that global economic uncertainty will also have an impact on rents. Hardest hit will be the high-end sector, said Mr Cheong, with rents possibly experiencing a marginal decline of up to 5 per cent. New arrivals of foreign white-collar workers may have more constrained rental budgets, said other consultants. 'Rental budget cuts will lead tenants to look at cheaper alternatives so projects in mid-prime or well-located city fringe or suburban locations may be in greater demand,' said Mr Ong Teck Hui, head of research and consultancy at Credo Real Estate.

Even though there have been concerns that the large number of shoebox units set to come onto the market may be difficult to rent out, the recent measures may mean that these smaller units may turn out to be popular among tenants as well, said analysts, because of the lower overall rent price that such homes would offer. cherlim@sph.com.sg
Copyright © 2011 Singapore Press Holdings. All rights reserved.
Printed from straitstimes.com http://www.straitstimes.com/print/Money/Story/STIStory_751180.html

Don't analyse lah. These analysts change their opinion faster than I change underwear..

You are right, they don't have to pay for wrong info. They are pay for all type of info be it right or wrong. It is the investor that have to understand what info is right or wrong. For those investor who cannot understand just need to follow the herd instinct.

Definition of 'Herd Instinct'
A mentality characterized by a lack of individuality, causing people to think and act like the general population.

http://www.investopedia.com/terms/h/herdinstinct.asp#axzz1iUGf2IaL

Most analysts aiming to buy when price down mah. So try their luck loh. In the meantime they scoop up the deal when fear grips owners..

Greed lures one to buy while fear entices one to sell.

Be fearless, and less greedy..

If the U.S. Debt Were a Household Budget

http://www.lewrockwell.com/blog/lewrw/archives/103116.html

19 January 2012

Government releases two residential sites
estimated to yield 805 housing units in January 2012

To provide home-buyers and developers with more choices for private housing, the Urban Redevelopment Authority (URA) and Housing Development Board (HDB) have launched two residential sites at Hillview Avenue and Upper Serangoon View/Upper Serangoon Road for sale by public tender today.

The two land parcels are launched for sale under the Confirmed List of the 1st half 2012 (1H2012) Government Land Sales (GLS) Programme. Together, these sites will yield about 805 units, as part of the total 7,000 residential units to be launched under the GLS Programme for 1st half 2012.

Land Parcel at Hillview Avenue
The land parcel, with a site area of about 1.26 ha, is located within an established residential estate in the west region. The site can potentially yield about 370 private housing units and is near the future Cashew and Hillview MRT Stations. These stations are part of the Downtown Line 2 Mass Rapid Transit system that will provide residents with convenient access to the city centre when it is completed in 2015.

Land Parcel at Upper Serangoon View/Upper Serangoon Road
The land parcel, with a site area of about 1.24 ha, is located in the north-east region and is in close proximity to Hougang MRT Station and Bus Interchange. Earmarked for an executive condominium development, the site can potentially yield about 435 units and is easily accessible via nearby TPE, KPE and CTE.

Other Details
Tender for the residential sites at Hillview Avenue and Upper Serangoon View/Upper Serangoon Road will close at 12 noon on 6 March 2012 and 1 March 2012 respectively. Selection of the successful tenderer will be based on the tendered land price only.

Happy Chinese New Year.

http://a1.sphotos.ak.fbcdn.net/hphotos-ak-ash4/405532_342761705749103_124796304212312_1224270_1883473399_n.jpg

http://1.bp.blogspot.com/-wOfk_9WUyJ0/TZaZW3F-A9I/AAAAAAAAABY/flBQcXru9aw/s400/huat+ah.jpg

Bernanke giving Ang Pow again, this coming Wed 25/01/2012, Huat Ah.

http://globalresearch.ca/coverStoryPictures/17346.jpg

Fed Begins an Effort to Remove All Doubt on What It’s Doing

http://www.nytimes.com/2012/01/23/business/fed-set-to-introduce-communications-policies-this-week.html?ref=business

WASHINGTON — The Federal Reserve, which does not like to surprise financial markets, has worked unusually hard to prepare the public for the changes to its communications policies that it plans to introduce on Wednesday.

Ben Bernanke, the Federal Reserve chairman, is focusing on improving Fed communications with the economy out of crisis mode.
While the changes could make it easier for the Fed to move ahead with another round of asset purchases later this year, by helping to explain why the economy needs additional stimulus, officials have indicated that any such plans remain on the back burner, and may stay there so long as the economy continues to recover.

Indeed, the Fed is able to focus on communication in part because it is no longer devoting all of its energies to crisis management. These are improvements that the Fed’s chairman, Ben S. Bernanke, has waited five years to make, reflecting his vision for how the Fed should operate in periods of calm, too.

The centerpiece of the new policies is a plan to publish the predictions of senior Fed officials about the level at which they intend to set short-term interest rates over the next three years — including when they expect to end their three-year-old commitment to keep rates near zero. The Fed also will describe the expectations of those officials for the management of the central bank’s vast investment portfolio.

The first forecast will be published after a two-day meeting, starting on Tuesday, of the Federal Open Market Committee, which sets policy for the central bank. The committee also is considering the publication of a statement describing the Fed’s goals for the pace of inflation and level of unemployment, which it has never formalized.

“Our moves toward greater openness in recent years have made our policies more effective and helped the public understand the Fed’s actions better,” John C. Williams, president of the Federal Reserve Bank of San Francisco, said in a recent speech.

Any bolder steps, he said, “will depend on how economic conditions develop.”

This is not the first time the Fed has tried to get past crisis management. And after several false starts in which it overestimated the strength of the recovery, officials have been careful to insist that they still stand ready to do more if necessary.

The economy, after all, is merely muddling along. While economists calculate that fourth-quarter growth was relatively strong, most forecasters expect a much slower pace of growth in the new year. The Fed’s own forecast, which will be updated Wednesday, anticipates growth of up to 2.9 percent. Most other guesses are lower.

Unemployment also remains a deep and prevalent affliction. Almost 24 million Americans could not find full-time work in December; the unemployment rate has ticked downward in part because many people have stopped looking for work.

Senior Fed officials have also sought to focus attention in recent months on the depressed condition of the housing market, arguing that other parts of the government can and should do more to help homeowners and revive sales. Some Fed officials have advocated that the Fed buy large quantities of mortgage-backed securities, which could further reduce interest rates on mortgage loans.

But several Fed officials have said in recent speeches that they are hesitant to support new efforts to improve growth, because they think monetary policy has exhausted most of its power, and because they are worried about inflation.

“Steady even if unspectacular growth accompanied by inflation in the neighborhood of 2 percent justifies some reluctance to change, in either direction, the F.O.M.C.’s accommodative policy,” Dennis P. Lockhart, president of the Federal Reserve Bank of Atlanta, said in a speech this month.

Mr. Lockhart added a standard caveat for Fed officials, that the persistence of high unemployment required the Fed to keep thinking about doing more.

“Now is not a time to lock into a rigid position,” he said.

But Fed officials have made clear that high unemployment is an insufficient cause for additional action, at least as long as inflation remains near 2 percent.

Sandra Pianalto, president of the Federal Reserve Bank of Cleveland, said in a recent speech that the economy would not create enough jobs to return unemployment to normal levels for “perhaps even four or five years.”

“Sooner, of course, would be better for everyone,” she said. “But I want to be on a path toward full employment that
doesn’t create an inflation problem down the road.”

The communications changes that the Fed plans to announce Wednesday mark the furthest advance in a 20-year-old campaign to increase the transparency of its decision-making as a means to increase the impact of its policies. As recently as the early 1990s, the Fed still did not regularly announce the decisions reached at its policy meetings. Now it plans to start publishing predictions about the outcomes of future meetings to guide investor expectations.

The Fed disclosed its plans this month when it released a description of the committee’s most recent meeting, in December. On Friday it followed up by releasing the templates that will be used to publish the predictions.

The predictions themselves could have a mild effect on markets. The Fed said this summer that it would maintain short-term rates near zero through middle of 2013, at least. Mr. Bernanke has since underscored the words “at least,” and analysts expect the forecast will show that most members of the committee intend to hold rates near zero into 2014.

Pushing back that timetable will tend to reduce interest rates, but the impact is likely to be minor, as asset prices already reflect an expectation that rates will not rise before 2014.

“In policy terms, this is a historic change,” Paul Ashworth, chief North American economist at Capital Economics, wrote in a note to clients. “In practical terms, however, the change isn’t going to have any major impact.”

A version of this article appeared in print on January 23, 2012, on page B3 of the New York edition with the headline: Fed Begins an Effort to Remove All Doubt on What It’s Doing.

Hi guys, we have a new facebook group PropertyTalk & Lifestyle Singapore, a platform to bring all property enthusiats together to network, share and discuss latest property trends, launches, knowledge, and experiences. Feel free to join us at the group HERE! (http://www.facebook.com/groups/170564546380585)

PropertyTalk & Lifestyle Singapore: http://www.facebook.com/groups/170564546380585 :)

Anyone noticed how many ads were placed in ST today for new launches? I think more than 20..

Anyone noticed how many ads were placed in ST today for new launches? I think more than 20..

There is still money to be make for developer, demand is still strong. Bank interest rate too low to put money in the bank, inflation rate is above bank interest rate. Anyone with the right mind will buy real estate. Wait till uncle and aunt get to know their deposit is evaporating in the bank. HDB should build 50,000 unit a year instead of 25,000 unit to cool demand, you can sell first and deliver 6 year later, there will still be people happy to buy.

5 years is already a long time to wait..

5 years is already a long time to wait..

I waited for almost 10 years to go into PC.

Stock markets can expect to receive a boost from a second huge European Central Bank liquidity injection, according to Lakefield Partner’s Bruno Verstraete, who says another 1 trillion euros ($1.32 trillion) will be available for banks at a quasi-free interest rate on February 29.

At the rate the World is printing money, money in the bank should increase or decease in value your guess is as good as mine.

CM6 on the way, quick go and buy......

http://www.cnbc.com/id/46366751

http://www.cnbc.com/id/46322553/

Huat Ah...........

http://www.cnbc.com/id/46252167/

"The advanced economies seek to inflate away their massive debt by exporting inflation to the emerging world. The net effect is a massive financial tsunami that has potential to sweep over the emerging economies – and, ultimately, the developed economies as well."

In China they have quantitative tightening (QT), in Singapore we have CM. Look like $650k is a bit low after 29 Feb 2012 printing of money. Next target $750K for HDB 5I and $1,635,000 for 2 Bedroom @ Southbank

Better keep your SB. http://www.cnbc.com/id/46252167/

"The advanced economies seek to inflate away their massive debt by exporting inflation to the emerging world. The net effect is a massive financial tsunami that has potential to sweep over the emerging economies – and, ultimately, the developed economies as well."

In China they have quantitative tightening (QT), in Singapore we have CM. Look like $650k is a bit low after 29 Feb 2012 printing of money. Next target $750K for HDB 5I and $1,635,000 for 2 Bedroom @ Southbank

Anyone noticed how many ads were placed in ST today for new launches? I think more than 20..
i happen to be chatting with someone from Huttons and he told me they have 60 launches in the pipe in which they are involved. Go figure !

HDBs more unaffordable than private homes



Housing and Development Board (HDB) resale homes in Singapore are more unaffordable than private homes, PropertyGuru can exclusively reveal. They are also classed as being ‘severely unaffordable’.

Using a globally-recognised formula where the Median Multiple (median house price divided by the annual median household income) is used to calculate housing affordability, HDB resale flats are also classed as being severely unaffordable using a scale which was most recently published in the 8th Annual Demographia International Housing Affordability Survey.

Housing affordability is evaluated based on the quotient deduced from the given formula, where a result of 3.0 and below would imply that houses are affordable, 3.1 to 4.0 (moderately unaffordable), 4.1 to 5.0 (seriously unaffordable), and 5.1 and over (severely unaffordable).

Given that the international report centred on the mid-end market, PropertyGuru focused its attention on private apartments and condominiums within the Outside Central Region (OCR) and Rest of Central Region (RCR), as these areas are home to most of the mid- to high-end properties.

The median multiple is based on calculations using the median household income from Singstat’s Key Household Characteristics and Household Income Trends, 2011, and the median price for all types of resale HDBs, ranging from one- to five-room and executive flats, according to data from the HDB and PropertyGuru.

The median multiple for private properties is 6.03 which means they are ‘severely unaffordable’ but for HDB resale flats, the result is arguably shocking. The median multiple was found to be at a high of around 6.7, which lies within the ‘severely unaffordable’ bracket – and even more unaffordable than private properties.

While private properties and HDB resale flats hit the ‘severely unaffordable’ mark, it has to be noted that the monthly household income for HDB dwellers is considerably lower than that of private homeowners.

Tejaswi Chunduri, Regional Analyst at PropertyGuru, offered her insights on the findings. She said: “The data is reflective of the housing affordability issues the country has been facing the past few years. In the last five years the median household income in Singapore has increased by 42 percent whereas HDB resale prices have shot up by 84 percent according to the HDB price index. Private property has risen 58 percent when we look at the private property price index.”

She added: “This is a great contradiction to HDB's role which is to offer affordable housing to the masses,” however she was quick to add that homes in Singapore are more affordable than Hong Kong which earned a rating of 12.6.

Despite the high prices, private home sales in Singapore continue to skyrocket, rising 29 percent in February from the previous month. “It is yet to be seen if the multiple rounds of cooling measures and other policies introduced by the government will prove effective in making home prices more affordable,” added Chunduri.

The HDB was contacted for an official statement but were unable to issue any comment prior to publication.

Original source: Today Online

The Singapore's two integrated resorts (IRs) have had limited impact on home prices, according to a report by property consultancy firm DTZ.It noted that between the first quarter of 2009 and the second quarter of 2010 - prior to the opening of the IRs - the capital value of private non-landed homes rose by 65.3 per cent in Marina Bay and 38.5 per cent in Sentosa.


After the IRs opened, and between the second quarter of 2010 and the fourth quarter of last year, prices increased by 3.7 per cent in Marina Bay and 1.5 per cent in Sentosa.


During the same period, prices in the Core Central Region (CCR) increased by 8 per cent.


"After the opening of the two IRs in the first half of 2010, the euphoria dissipated as there was no tangible advantage of living close to the IRs and there was additional traffic to contend with," the report said.


More info http://singaporepropertyguru.com.sg/2012/03/integrated-res…ome-prices-dtz (http://singaporepropertyguru.com.sg/2012/03/integrated-res%E2%80%A6ome-prices-dtz)

What if Mr Khaw borrow the idea from Grace "No more subletting of HDB."?

Will HDB resale price go Up or Down. What about PC rental and resale price go Up or Down..

No more subletting of hawker and wet market stalls

http://www.straitstimes.com/Parliame...ry_774744.html

So quiet here, where are all the forum-bers?
Haven't been viewing this forum for a while, is the SG property so quiet and depress. Read somewhere the transactions in Feb was very good right?

New launches are making the numbers...

Investors shifting their focus to Industrial, Commercial and New Launches...

All PMs answer.

Play safe.

yaay?

http://forums.condosingapore.com/showthread.php?t=13556&page=12

Quote:
Title:S'pore is 4th most desirable place to live & work: survey By:Date:02 May 2012 1431 hrs (SST) URL:http://www.channelnewsasia.com/stori...198729/1/.html
SINGAPORE: Singapore has moved up two spots to become the fourth most desirable place in the world to live and work, according to a survey by recruitment firm Hydrogen and business school ESCP Europe.

This is because Singapore has become an increasingly popular destination for multinational corporations over the past few years, said Hydrogen.

"We have seen companies from sectors as diverse as technology, energy, pharmaceutical and wealth management open offices here. The big question here is whether Singapore will become Asia's Silicon Valley or its Switzerland," said Simon Walker, Hydrogen's Asia MD.

While the three most popular places for survey respondents to live and work remain the US, the UK and Australia, their dominance is waning.

The report showed that 12 per cent picked the US as the top relocation destination, down from 18 per cent last year.

The UK and Australia each got 9 per cent of the votes, down from 10 per cent and 11 per cent respectively.

As Singapore becomes an increasingly attractive relocation destination for expatriates, Hydrogen said employers in the city state are finding that they have the pick of the world's top professional talent.

Mr Walker said: "Singapore has one of the lowest crime rates in the world, and it offers a clean and healthy environment free from traffic pollution.

"So it is not surprising that 88 per cent of those who have moved to Singapore feel that their living conditions have improved."

The report - which interviewed 2,353 people globally - also showed that the workforce was getting more internationalised. For example, 72 per cent of respondents said their employers see international experience as important or very important, up from 63 per cent in 2011.

- CNA/al


Quote:
I envy Singapore: Bollywood actor Anil Kapoor

By Melissa Aw | Singapore Showbiz – Wed, Apr 25, 2012 12:47 AM SGT


"Let me tell you one thing about Singapore… this is the kind of world we must have. Whatever I've heard and whatever I've imagined, Singapore is that. It is the epitome of everything."
Making that bold declaration was none other than Bollywood superstar Anil Kapoor, who was in town earlier this week to launch the 13th International Indian Film Academy (IIFA) which is slated to take place in the city-state from 7 to 9 June.

During his 10-minute long speech, Kapoor revealed that he envies Singapore for its "unimaginable" and "incredible" progress and diversity, as well as its top-class education system that convinced him to enroll his eldest daughter in a local school.

"If you want to sleep well at night, if you want to feel secure, if you want your child to get the best education and get the best of everything from all over the world, that's Singapore," the 54-year-old explained.

Quote:
S'pore to be second biggest gaming destination after Macau
By Thomas Cho | Posted: 02 May 2012 1340 hrs


SINGAPORE: Singapore is poised to be the second biggest gaming destination in the world after Macau.

Last year, analysts had made the same prediction but the outcome from the two integrated resorts in Singapore fell short of this expectation.

Analysts are confident that after Marina Bay Sands (MBS) strong numbers, gross gaming revenue from the two local integrated resorts may overtake Las Vegas Strip by end of this year.

MBS raked in gross gaming revenue of over US$2 billion last year.

Meanwhile, its rival Resorts World Sentosa recorded net gaming revenue of close to US$2.6 billion in 2011.

Analysts said the combined gross gaming revenue of Singapore's two casinos is about US$5.7 billion.

This is just a shy away from the total gaming revenue of US$6.1 billion collected from more than 20 casinos along Las Vegas Strip.

With MBS's recent strong first quarter showing, some analysts are upbeat that Singapore's gaming industry will overtake Las Vegas this year.

MBS posted net revenue of US$848.7 million in the first quarter this year. Its casino earnings rose 51 per cent to US$701.3 million.

Terence Wong, co-head of research at DMG and Partners Research said: "For this year, it should be able to take over Las Vegas as the number two top gaming spot globally and that is on the back of huge masses going over there (Marina Bay Sands) and on top of that, I think VIPs are much sort after. RWS already has their own international marketing agents which bring them (patrons) over here."

Analysts expect Singapore's gross gaming revenue to hit US$6.5 billion this year versus the Strip's US$6 billion.

Experts said Singapore remains attractive to the high rollers because it offers more than just gaming.

Unlike Macau where gaming accounts for 90 per cent of its economy, there are other tourist attractions and activity for the family too.

Director of corporates at Fitch Ratings Nandini Vijayaraghaven added: "Gaming in Singapore is stable to positive, it is a preferred tourist destination. It is a regulated market with two casinos, both operating under long licence period and in exclusivity period build within the licence period."

Casino patrons' stay in Singapore is usually longer on each visit of around four days.

This helped boost income from the integrated resorts as well.

In the fourth quarter last year, data from the tourism authority show that tourists spent S$1.3 billion in sightseeing and entertainment including gaming.

Richard Linstrom, dean at University of Nevada, Las Vegas, Singapore Campus, said: "Las Vegas Sands has a kind of unique expertise in the high rollers upscale market, I think it'll be difficult for regional operators over the short term to match that. I think over the longer term there'll be adjustments by all the companies in Asia and there'll be room for everyone to compete."

Genting Singapore will report its earnings, which includes Resort World Sentosa on 10 May.

Analysts expect gaming revenue from Resorts World Sentosa to increase but it may fall short of the performance shown by MBS.

- CNA/ck

http://forums.condosingapore.com/showthread.php?t=13556&page=10

Quote:
Originally Posted by pmet
There has been lots of foreign funds flowing into SG the past few weeks, get ready for a spike in property sales/prices

is this proprietary knowledge or a crystal-ball speculation?

Reply

M3
2011
Mar 420,369.0
2012
Jan 455,057.0
Feb 453,410.0
Mar P 462,461.7

M3 grows by 10% from Mar 2011 ... our GDP grows only 4.5% at most??

At this rate ... M3 as a per cent of GDP will probably go beyond 135% this year ... all time high

http://3.bp.blogspot.com/-3h2EL1gwQ-g/T5_-jUznM9I/AAAAAAAAHWQ/vLiaW3yEzz8/s1600/Property+driver.JPG

Back to History before the CM

http://2.bp.blogspot.com/-TUSdVxsLeaQ/T5_pb3oq4DI/AAAAAAAAHWE/hfkt1JK5G2w/s1600/B4+CM.JPG

CM = Control Measure

CM5 - 07 Dec 2011

http://app.mnd.gov.sg/Newsroom/NewsP...RA1=&RA2=&RA3=

CM4 - 13 Jan 2011

http://app.mnd.gov.sg/Newsroom/NewsP...RA1=&RA2=&RA3=

CM3 - 30 Aug 2010

http://app.mnd.gov.sg/Newsroom/NewsP...RA1=&RA2=&RA3=

CM2 - 19 Feb 2010

http://app.mnd.gov.sg/Newsroom/NewsP...RA1=&RA2=&RA3=

CM1 -14 Sep 2009

http://app.mnd.gov.sg/Newsroom/NewsP...RA1=&RA2=&RA3=

Khazanah Nasional Bhd is launching a prestigious project, estimated
to be worth over S$7 billion (RM17.19 billion), at Marina South in Singapore by the end of this year or early 2013.

Read more: Khazanah plans S$7b project in Singapore http://www.btimes.com.my/articles/20120430003339/Article/#ixzz1tjySFBPT

https://fbcdn-sphotos-a.akamaihd.net/hphotos-ak-ash3/529070_3347947250411_1020706983_32488673_2146162299_n.jpg

LKsZ1hqHBHU

A story from blackjack21trader grandmother.

https://www.dropbox.com/s/vqnpvtcjsoi08o8/golden_era.pdf

http://forums.condosingapore.com/showthread.php?t=13729

Went to Punggol's River Isle launch yesterday. Full of cars.. agents cars. They flood the whole carpark and gives an impression of crowd but substance lacking. At reception counter, 3 agents waiting to 1 potential buyer.

So many launches in the area, competition is tough. River Isles 4BR about S$1.2m. Low quantum but size is only 14xx sf.

http://3.bp.blogspot.com/-3h2EL1gwQ-g/T5_-jUznM9I/AAAAAAAAHWQ/vLiaW3yEzz8/s1600/Property+driver.JPG

can sic where is this info from?

http://www.bis.org/publ/bppdf/bispap64h.pdf

Page 49

Matthew 7:7 "Ask, and it shall be given you; seek, and ye shall find; knock, and it shall be opened unto you"

Long time never post here ... i guess the reality of property market is reflected in this forum ... sleepy, dead, dull, flat :ohno: The CMs really take its toll

Hope the recent 3 land bids of 700psf at JLD, 676psf at TM and 720psf at Bright Hill Drive can inject some life into this market & forum

Property market is as predictable as bond now :nuts:

Long time never post here ... i guess the reality of property market is reflected in this forum ... sleepy, dead, dull, flat :ohno: The CMs really take its toll

Hope the recent 3 land bids of 700psf at JLD, 676psf at TM and 720psf at Bright Hill Drive can inject some life into this market & forum

Property market is as predictable as bond now :nuts:

Here's what BofA expects from the Fed:
An extension of its forward guidance in a manner that would push rate hikes through late-2015 on August 1, against BofA's earlier call for extension through mid-2015. $600 billion in quantitative easing (QE3) in treasuries and mortgage-backed securities (MBS) on September 13, up from the previous forecast of $500 billion.

http://www.businessinsider.com/bofa-qe3-markets-2012-7

Election or Not, QE3 is Coming In September.

http://finance.yahoo.com/blogs/breakout/election-not-qe3-coming-september-economist-143846129.html

Dear fellow forummers,
where can we get the M1,M2,M3 statistics to see how much Of QE3 is incomming into singapore?

Happy investing everyone.

Do not forget property is just one investment class.

SG property trend usually lag behind HK/China between 1-2 years. Go figure.

I still own properties; but I think the low hanging fruits is not here anymore.

Imagine buying a home in Singapore at $1m and your break even is $1.19m within 12 months. ( if you include seller stamp duty of 16% for year 1 and 3% buyer stamp duty you pay on the spot to Govt.)

You need property price to go up 20% just to break even.....

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

Trust me.... the only people optimistic now is the agents and developers.

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

Do not trust anyone whom say it is OKAY for property price to go down if you buy for own stay. This is :ohno:bullshit:ohno:.

Who want to live in a negative equity home and become a slave to your home.

Please spend some time to go thru the video below. If you want to know why 99% of people are poor.....

http://www.youtube.com/watch?v=CB2SluAUWJA

But there are technical signs that US stock is going to make a new high this year ... market seems to know something we don't ... it is either QE3 is already confirmed or US economy is not as bad as feared

STI could close at 3,250 by year end

One of the signs is 10y Treasury yield has broken 50d MA coupled with unusual strength in S&P500

http://finance.yahoo.com/q/ta?s=%5ETNX&t=6m&l=on&z=l&q=l&p=m50&a=&c=

thanks for reminder about developers and agents!
would you then buy shares of WingTai(which appears to be supported by chairman's buy-out offer) or sing Holdings (which has a land bank next to stevens MRT interchange) or UOL (UOB -related)?

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Date : 06/09/2012
Paper : The Business Times
Title : URA puts up housing plot with 60-yr lease

URA puts up housing plot with 60-yr lease

Zeinab Yusuf Saiwalla
6 September 2012
Business Times Singapore


URA will also launch site for first hotel in Jurong lake district

The government yesterday announced two firsts in its land sales programme - a residential site in Jurong which comes with an unusual 60-year leasehold term, and another plot that will see the first-ever hotel being built in Jurong.

URA said the 1.02-ha residential site in Jurong Jurong Kechil will have a maximum GFA of 153,267.17 sq ft and can be developed into a condominium, flats or retirement housing.

While short-term industrial, commercial and hotel sites are nothing new under the Government Land Sales Programme, this is believed to be the first time a private housing site is being sold on such short tenure under the GLS. Typically, the sites are released on 99-year lease.

Developers have options for a 30, 45 or 60-year-lease period for the plot, URA said. The development conditions for the site cap the maximum number of units at 203 units and can be built up to part five storeys and part eight storeys.

URA said the tender will be launched in about two weeks along with a hotel site, also in Jurong.

The land parcel at Jurong Town Hall Road will be the first hotel site in the Jurong Lake district. The parcel sits on a 0.9-ha plot and has a maximum gross floor area (GFA) of about 204,051.25 sq ft.

A developer has committed to pay at least $102 million or $499.82 per square foot per plot ratio (psf ppr) for the 99-year hotel site.

Commenting on the residential plot, Jones Lang LaSalle's national director of research Ong Teck Hui said: "The site is a popular suburban housing area supported by ample amenities and public transportation, so there should be good interest in this site."

The developer's trigger price for the residential land parcel which was made available through the Reserve List system in November 2006 was $24 million or $156.36 psf ppr for a 60-year lease term.

"As URA offers three options of different land tenures, the price of the land will be relatively cheaper as compared to the normal 99-year-leasehold land parcels from Government Land Sale Programme," said Nicholas Mak, SLP International's head of research.

He expects the tender to attract about five to 10 bids and added that most bidders are likely to select to bid for the 60-year land tenure because it will be more attractive to homebuyers and the longer land tenure will be easier for the homebuyer to obtain a mortgage.

Lee Sze Teck, senior manager of Dennis Wee Group (DWG), is looking at a top bid of between $200 and $250 psf ppr, an estimated breakeven cost between $450 and $500 psf, and an estimated sale price of between $550 and $600 psf.

"This is relatively affordable compared to freehold developments in the area which are going for around $1,000 psf," Mr Lee said.

As for the hotel development, Mr Mak said that although this is the first hotel site in the Jurong area, developers can however be expected to bid with a hint of caution, as the Jurong Lake locality is an untested hotel micromarket.

"In today's market, the estimated land price for this hotel site is expected to be $750 to $833 psf ppr, possibly attracting 5-10 interested bidders," Mr Mak added.

DWG's Mr Lee added: "The successful bidder for the site is likely to build a four-star 700-room business hotel to cater to the growing commercial hub at Jurong East."

He estimates that based on these assumptions, the estimated top bid for the site could be between $650 and $700 psf ppr while the breakeven price is between $1,050 and $1,100 psf.

Furthermore, as Jones Lang LaSalle's Mr Ong explained: "In December the URA is scheduled to release another large commercial site at Venture Avenue so it is going all out to create Jurong Gateway as the biggest commercial hub outside the city. The huge critical mass would warrant a hotel to complement the other business uses and it is timely to provide a hotel site for development."

Date : 06/09/2012
Paper : The Business Times
Title : URA puts up housing plot with 60-yr lease

URA puts up housing plot with 60-yr lease


Not all banks will finance homes on short leases
For those that do, buyers might have to borrow less or pay off loans more quickly
The Straits Times - September 13, 2012
By: Esther Teo


SOME banks here say they are willing to finance new homes with shorter leases, but buyers might have to pay off these loans more quickly, or borrow less.

They were responding to the Urban Redevelopment Authority's (URA) announcement last week that it will offer its first residential site with a variable lease option of 30, 45 or 60 years for sale.

The 1.02ha land parcel in Jalan Jurong Kechil can also be developed for retirement housing.

It is on the reserve list.

Banks The Straits Times spoke to said a range of criteria such as the loan-to-value ratio, the property's value, the applicant's income and credit worthiness, and the acceptability of the collateral are assessed when a loan application is considered.

However, at least one bank said it would not offer loans to buyers of homes with a 30-year lease.

Ms Chia Siew Cheng, United Overseas Bank's (UOB) head of secured loans (personal financial services), said the maximum loan term depends on the borrower's age. If the property is leasehold, the remaining lease period must be at least 35 years at the end of the loan term.

"In this instance, UOB's criteria would apply only to the 45-year and 60-year leasehold properties, and the maximum loan tenor the bank could potentially offer for these would be 10 years and 25 years respectively," she added.

Other banks, however, say the decision would be made on a case-by-case basis.

DBS Bank is one of them. Ms Lui Su Kian, its managing director and head of deposits and secured lending, said that "the introduction of shorter-lease residential properties is relatively new to the market, and we are reviewing the demand for such leases".

She added: "Currently, we offer mortgages for properties with leases of more than 60 years. However, we do offer financing for residential properties with shorter leases on a case-by-case basis."

Ms Phang Lah Hwa, OCBC Bank's head of consumer secured lending, said the maximum loan term for home loans is 40 years, or the period from when the loan is taken to when the borrower turns 75, whichever is shorter.

"Banks generally reduce the loan tenor or the quantum of financing if the remaining lease falls below 40 years on loan maturity. The bank will review home loan applications for projects with short-term leases on a case-by-case basis," she added.

Mr Peng Chun Hsien, head of secured finance solutions at Citibank Singapore, said: "The remaining lease on a property is a consideration when determining the tenure of a home loan. Therefore, a shorter home loan tenor may be granted for properties with shorter leases."

The URA said that it will monitor the outcome of the tender before deciding on whether to offer more residential sites with variable lease terms, which have been introduced to provide more development options for tenderers.

It also noted that retirement housing is still a new and untested concept in Singapore.

As the Jalan Jurong Kechil site is a pilot site, the type of retirement housing development, and how this would differ from the more conventional flats or condominiums, will depend on the developer's business model and development concept, a URA spokesman said.

For instance, the developer has the flexibility to propose various unit sizes in the development, including studio apartments.

It will also not be subject to the guidelines that cap the number of homes that can be built in each non-landed development outside the central area.

"This is to allow the developer to test out his business model, which could include studio apartments to cater to senior citizens.

"We will take into consideration the development outcome for this site in formulating the guidelines for future retirement housing developments," the spokesman said.

This cut is the deepest.

It does knock the wind out of those who are planning to leverage quite a bit on loans for their property purchase.

Singapore takes new steps to cool housing market
Posted: 05 October 2012 1745 hrs

SINGAPORE: The Monetary Authority of Singapore (MAS) will restrict the tenure of loans granted by financial institutions for the purchase of residential properties, effective from 6 October.

MAS' move is part of the government's broader aim of avoiding a price bubble and fostering long-term stability in the property market.

The new rules impose an absolute limit of 35 years on the tenure of all loans for residential property. This will apply to loans to both individual and non-individual borrowers, as well as refinancing loans.

In addition, loans exceeding 30 years' tenure will face significantly tighter loan-to-value (LTV) limits.

Furthermore, MAS will lower the LTV ratio for new residential property loans to borrowers who are individuals, if the tenure exceeds 30 years or the loan period extends beyond the retirement age of 65 years.

For these loans, the LTV limit will be: 40% for a borrower with one or more outstanding residential property loans; and 60% for a borrower with no outstanding residential property loan.

The new rules will apply to both private properties and HDB flats.

"Over the last three years, the average tenure for new residential property loans has increased from 25 to 29 years. More than 45 percent of new residential property loans granted by financial institutions have tenures exceeding 30 years," MAS said.

"The new rules aim to curb continued upward pressure on residential property prices, driven by low interest rates and rapid credit growth," the central bank added.

Previous rounds of measures have had a moderating effect on residential property prices. There is also significant supply of housing that will come onto the market over the next two years.

However, prices in both the HDB resale market and private residential property have continued to rise in Q2 and Q3 of 2012.

Private home prices rose 0.5 percent in the third quarter from the April-June quarter, when prices increased by 0.4 percent, while HDB resale prices gained 2.0 percent quarter-on-quarter following an increase of 1.3 percent in April-June.

MAS will also lower the LTV ratio for residential property loans to non-individual borrowers from 50 percent to 40 percent.

For re-financing facilities, the rules will apply where the application date of such facilities is on or after 6 October.

The outstanding loan may be either a loan from HDB or a financial institution regulated by MAS.

Deputy Prime Minister and Chairman of MAS, Mr Tharman Shanmugaratnam, said: "Monetary conditions worldwide are far from normal. QE3 and low interest rates have made credit easy, but this will eventually change. We are taking this step now to require more prudent lending, and will continue to watch the property market carefully. We will do what it takes to cool the market, and avoid a bubble that will eventually hurt borrowers and destabilise our financial system."

QE or quantitative easing is an unconventional monetary policy used by central banks to stimulate the national economy when conventional monetary policy has become ineffective.

Analysts do not expect the government's latest measures to have a major impact.

HSR special advisor, Donald Han, said: "The buying would continue despite the recent measures because of liquidity and because of low interest rate environment. I think buyers are still active. I don't expect too much of a dent in the total volume sales. In terms of actual impact, I think ABSD (Additional Buyer's Stamp Duty) had a more earthquake-like (impact). These (latest measures) are more like a tremor."

The Real Estate Developers Association of Singapore (REDAS) also does not expect a significant impact from the latest measures, because few buyers have undertaken long tenure loans.

Amongst the local banks, OCBC says it will reduce its maximum home loan tenure from 40 years to 35 years with immediate effect.

DBS says the bulk of its home loans have repayment periods below 35 years.

UOB, which offers loan tenures of up to 50 years, declined comment.

Singapore Business Review
8 October 2012
MAS warns of a Singapore housing bubble

"Eventual correction could be painful to borrowers and destabilise the economy".

The sound of alarm came as Singapore's central bank, the Monetary Authority of Singapore (MAS) announced a new round of measures meant to subdue rising housing prices, including capping loan tenure at 35 years.

MAS said that while recent government measures such as the Additional Buyer's Stamp Duty "have had a moderating effect on residential property prices" and that "there is also significant supply of housing that will come onto the market over the next two years," the demand for housing is simply not slowing down.

"Prices in both the HDB resale market and private residential property have continued to rise in Q2 and Q3 of 2012," MAS noted, which it blamed squarely on the current climate of low interest rates, globally and in Singapore.

MAS said the prevailing and problematic low interest rates are "likely to persist for some time."

"It will continue to spur demand in the residential property market, pushing up prices beyond sustainable levels," it said, which could lead to a bubble burst that will pummel Singapore borrowers and the economy.

Singapore Business Review
8 October 2012
MAS warns of a Singapore housing bubble

"Eventual correction could be painful to borrowers and destabilise the economy".

The sound of alarm came as Singapore's central bank, the Monetary Authority of Singapore (MAS) announced a new round of measures meant to subdue rising housing prices, including capping loan tenure at 35 years.

MAS said that while recent government measures such as the Additional Buyer's Stamp Duty "have had a moderating effect on residential property prices" and that "there is also significant supply of housing that will come onto the market over the next two years," the demand for housing is simply not slowing down.

"Prices in both the HDB resale market and private residential property have continued to rise in Q2 and Q3 of 2012," MAS noted, which it blamed squarely on the current climate of low interest rates, globally and in Singapore.

MAS said the prevailing and problematic low interest rates are "likely to persist for some time."

"It will continue to spur demand in the residential property market, pushing up prices beyond sustainable levels," it said, which could lead to a bubble burst that will pummel Singapore borrowers and the economy.

Message from MAS

1. the demand for housing is simply not slowing down.

2. Prices in both the HDB resale market and private residential property have continued to rise

3. current climate of low interest rates, low interest rates are "likely to persist for some time."

4. "It will continue to spur demand in the residential property market, pushing up prices

So for those who do not get the message try harder next time.

This cut is the deepest.

It does knock the wind out of those who are planning to leverage quite a bit on loans for their property purchase.

This just shift the purchaser to younger man instead of the old man like in China.

This just shift the purchaser to younger man instead of the old man like in China.

Why do you even bother in the other property forum? It's like a housing agent led forum.

There are some guru there, just need to filter away some noise.

Read this in Straits Times today.


8 projects may be nearing sales deadline

AT LEAST eight private housing projects, mostly in prime areas, are likely running out of time to sell their units within two years of completion, as stipulated by the authorities.

High-end developments such as The Marq on Paterson Hill and Hilltops in Cairnhill Circle, for instance, have been completed for at least a year but still have hundreds of new units sitting unsold.

If they are not sold within the next 12 months or less, developers may have to fork out extension charges to buy themselves more time after the two-year deadline.

Developers pay 8 per cent, 16 per cent and 24 per cent of the property purchase price for the first, second and third extra years, respectively. The amount is pro-rated based on the proportion of unsold units.

SC Global's 241-unit Hilltops, for example, was completed in the second quarter of last year and has till about June next year to sell its 196 apartments still unsold as at the end of September.

Its other luxury project, the 66-unit The Marq on Paterson Hill, completed in the first quarter of last year, has till about March next year to find buyers for its 33 unsold units.

Wheelock Properties' Scotts Square in Scotts Road also has 72 units unsold. It was completed in the third quarter of last year and also has less than a year to move its remaining units.

Other projects facing a similar predicament, with at least 10 units still unsold, include 88-unit Martin No. 38 with 21 units left and Residences at Emerald Hill with all its 33 units unsold.

SC Global and Wheelock Properties declined to comment about whether they had obtained or are planning to get an extension.

The high-end market has been languishing with slow sales and prices that are still below their peak. The additional buyer's stamp duty of up to 10 per cent introduced last year also whittled down foreign home demand, further hurting sales.

Under the Residential Property Act, housing developers whose shareholders and directors are not all Singaporeans have to get a Qualifying Certificate (QC) to buy residential property for development. This is imposed to control foreign ownership of land here.

This gives developers up to five years to build the project and requires them to sell all the units within two years of obtaining the temporary occupation permit (TOP). They are not allowed to rent out unsold units.

To ensure compliance, a developer has to put up a banker's guarantee for 10 per cent of the purchase price of the property, which may be forfeited if it fails to fulfil the QC's conditions.

Since January last year, a developer has been given the option to pay an "extension charge" if it cannot meet the five years' deadline from the issue of the QC to complete its project.

It might also be liable for a pro-rated extension charge, based on the proportion of unsold units it still holds, if it cannot meet the two-year deadline to sell all its units after the project is completed.

Some developers are understood to have sought extensions to the two-year window. However, since the implementation of the extension charge scheme last year, six developers have paid charges, the Ministry of Law said.

The Real Estate Developers' Association of Singapore has also submitted a proposal this year to extend this two-year period. The Law Ministry said that it is "looking into the feedback".

Experts say that while indirect discounts such as rental guarantees or stamp duty absorption might be offered by some projects as the deadline nears, large cuts in prices are unlikely.

Mr Lee Liat Yeang, a partner at Rodyk & Davidson's Real Estate Practice Group, noted that developers are likely to opt to pay the extension charges instead.

"A majority of developers bought the land at lower historical prices and so paying the extension charge will not erode their profit margins significantly," he said.

"This option is preferred as cutting prices would not only affect their reputation but also face objections from earlier buyers."


https://fbcdn-sphotos-d-a.akamaihd.net/hphotos-ak-ash3/598546_10151298114522040_1828334161_n.jpg
https://fbcdn-sphotos-d-a.akamaihd.net/hphotos-ak-ash3/598546_10151298114522040_1828334161_n.jpg

News on the property market.


Foreign buyers account for 7% of Singapore's property market in Q3
Posted: 19 November 2012 2042 hrs

SINGAPORE : Foreign buyers of Singapore properties accounted for 7 percent of the market in the third quarter this year.

The proportion had remained unchanged from the previous second quarter.

However, for the first three quarters of the year, foreign purchases averaged about 6 percent.

This is according to the latest report on demand for Singapore's residential properties in Q3 by property consultant DTZ.

The report also said that demand for luxury landed homes remained strong in the same quarter.

There were altogether 14 Good Class Bungalows (GCBs) transacted in Q3, compared to 12 GCBs in the previous quarter.

Interest in the landed segment was also strong in Sentosa Cove with 6 units sold in Q3 compared to 5 in Q2 and two units in Q1.

These are for purchases worth more than S$10 million.

Notably, purchases by US nationals and Norwegians in Sentosa Cove have increased since the implementation of the Additional Buyer's Stamp Duty (ABSD).

The 10 percent additional stamp duty does not apply to them.

Year-to-date, US nationals have bought a total of 126 private homes in Sentosa Cove, making them the top non-SIngaporean buyer group of private homes there.

This is a huge contrast to only 3 and 1 purchases by Americans in 2010 and 2011 respectively.

DTZ Research expects the market to continue to gain support from local buyers despite the cooling measures on loan tenure and loan-to-value limit implemented in October 2012.

It also expects limited impact on the high-end segment of above $5 million since the buyers have deeper pockets.

Meanwhile in other segments, it expects demand to shift to smaller and more affordable units as buyers with tight budgets may move one notch lower.

- CNA/ch


source: CNA (http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1238214/1/.html)

Date : 06/09/2012
Paper : The Business Times
Title : URA puts up housing plot with 60-yr lease

URA puts up housing plot with 60-yr lease


URA receives 23 bids for Jalan Jurong Kechil site
By Brandon Tanoto | Posted: 15 November 2012 2158 hrs
Channel News Asia

SINGAPORE : The Urban Redevelopment Authority (URA) received 23 bids at the close of tender for the residential site at Jalan Jurong Kechil on Thursday.

Property consultants said this is the highest number of bids received since the 32 bids submitted in the tender for the Westwood Avenue residential site that closed in December 2009.

World Class Developments (North) Pte Ltd - a subsidiary of SGX-listed firm Aspial Corporation - was the highest bidder for the land parcel for S$73.8 million, or S$481.51 per square foot per plot ratio (psf ppr), for a lease of 60 years.

This was 10 per cent above the second highest bid of S$66.9 million made by CEL Property, a wholly owned subsidiary of Chip Eng Seng Corporation.

Meanwhile, Roxy Homes, Roxy-Pacific Holdings' wholly owned subsidiary, made the third highest bid of S$59.5 million.

The lowest bid came from Kwan House, with a bid price of S$23.3 million or $152 psf ppr for a 45 year lease. It was also the only player which submitted a bid for a 45 years lease.

Altogether, the variable leasehold site attracted 22 bids for a lease option of 60 year lease, with just one bid submitted for the option of 45 years.

Offered for sale with a lease option of 30 years, 45 years or 60 years, this is URA's first residential site offered for sale on such variable lease terms.

Eugene Lim, key executive officer at ERA Realty Network, said that the response revealed that developers believe there is potential with a 60-year lease site, though the wide range of bid prices show that developers value the land differently.

As this is a new product, Nicholas Mak, executive director at SLP International Property Consultants said some bids could also be 'mispriced in a closed envelope tender'.

Based on the top bid of S$481.51 psf ppr, Nicholas Mak, executive director at SLP International Property Consultants said the breakeven cost is estimated to be about S$840 psf to S$870 psf.

However, Mr Mak said the developer of this site could face a risk that some banks may not prepared to finance homebuyers for residential projects with leases of 60 years or less.

Mr Lim believed that the selling price will most probably start from S$1,100 psf, given that nearby development Suites at Bukit Timah has an average selling price of S$1,600 psf for a one bedroom unit.

The Jalan Jurong Kechil site has an estimated gross floor area of 14,239 square metres and was launched for public tender on 19 September.

URA said it would decide on the winning bidder at a later date.

^^

22 November 2012

Award of Tender for Residential Site
at Jalan Jurong Kechil

The Urban Redevelopment Authority (URA) has awarded the tender for the residential site at Jalan Jurong Kechil to World Class Developments (North) Pte Ltd. The company submitted the highest bid in the tender for the site.

URA

Private resale home prices continue to rise in October
Updated 10:01 PM Nov 28, 2012

SINGAPORE: Private resale home prices rose by 1 per cent in October, marking a similar rate of increase seen in September.

The figures are part of the latest Singapore Residential Price Index (SRPI) flash estimates published by the Institute of Real Estate Studies at the National University of Singapore (NUS IRES).

In its report, NUS IRES said that property cooling measures have had "transient effects" on housing prices.

However it acknowledged that the measures have helped reduce volatility in prices.

It also added that there has been no significant decrease in overall home prices despite the introduction of new measures in October to cap tenures for bank property loans.

The SRPI also showed that the number of private resale homes sold in October rose compared to the month before, based on data captured as at 21 November.

The report also found prices of small units to be more volatile compared to other segments for the month of October.

The SRPI for small units, or units that are 500 square feet or less, rose by 0.6 per cent in October.

This is down from the 2 per cent increase in September.

The contraction has been attributed to new guidelines announced by the government to control the proliferation of shoebox apartments in Singapore.

NUS IRES also expects the guidelines to continue to moderate prices and sales volume of small units going forward.

Meanwhile, the SRPI for private homes in the central area rose by 0.9 per cent in October, compared to the 1 per cent increase in the previous month.

Prices of units in the non-central region went up by 1 per cent in October, similar to the rate of increase in September. CHANNELNEWS ASIA

Private resale home prices continue to rise in October
Updated 10:01 PM Nov 28, 2012

SINGAPORE: Private resale home prices rose by 1 per cent in October, marking a similar rate of increase seen in September.

^^ Still lots of demand?

Wait till the 4th year period after the Jan 2011 SSD raise, then the supply will increase tremendously.

News on property sales for the year.

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https://fbcdn-sphotos-b-a.akamaihd.net/hphotos-ak-ash3/546500_10151339869572040_522505531_n.jpg

source: TODAY (www.todayonline.com)

Now EU don't have to pay ABSD.:banana:

News on 2 new residential released for sale.

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https://fbcdn-sphotos-f-a.akamaihd.net/hphotos-ak-snc6/603256_10151341311402040_1664557793_n.jpg

source: TODAY (www.todayonline.com)

News regarding on Peter Lim's acquisition in TODAY.

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https://fbcdn-sphotos-b-a.akamaihd.net/hphotos-ak-ash3/15416_10151346878957040_838558472_n.jpg

source: TODAY (www.todayonline.com)

An article commenting on the Iskandar region and the relation with Singapore.

https://fbcdn-sphotos-g-a.akamaihd.net/hphotos-ak-ash3/545539_10151356500582040_507432556_n.jpg
https://fbcdn-sphotos-g-a.akamaihd.net/hphotos-ak-ash3/545539_10151356500582040_507432556_n.jpg

source: TODAY (www.todayonline.com)