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Property agents feeling the pinch as market cools
- Thread starter nutbush
- Start date
"quicky"...i prefer...:p
Dont think so much, Dear Leader.
If she is yours, she is yours
Singapore Home Prices Post Longest Losing Streak in 5 Years
index tracking private residential prices fell 1.1 percent to 209.3 points in the three months ended June 30, following a 1.3 percent decline in the previous three-month period, according to preliminary data released by the Urban Redevelopment Authority today.
http://www.bloomberg.com/news/2014-...lide-for-third-quarter-on-property-curbs.html
index tracking private residential prices fell 1.1 percent to 209.3 points in the three months ended June 30, following a 1.3 percent decline in the previous three-month period, according to preliminary data released by the Urban Redevelopment Authority today.
http://www.bloomberg.com/news/2014-...lide-for-third-quarter-on-property-curbs.html
Private home prices 'may fall up to 20 per cent'
Private home prices are expected to keep falling this year but analysts say a crash is unlikely. OCBC Investment Research forecast yesterday that values could dip 10 to 20 per cent from the start of this year to the end of next year. It warned that mass-market homes could take a bigger hit than the middle and high-end segments but added that the price slide would probably not exceed 20 per cent despite possible oversupply and an expected interest rate increase.
Likewise, Maybank Kim Eng said earlier this month that it expects a price drop of 10 to 15 per cent from now until the end of next year. Both research houses estimate that around 10,000 new private homes will be sold this year. The OCBC analysts, led by Mr Eli Lee, said private home prices are likely to escape a crash due to solid underlying demand, which arose largely on the back of a prolonged period of undersupply of homes from 2004 to 2012. "We see significantly more buyers coming into the market at lower price points, which will likely slow the rate of decline as prices soften." This latent demand is reflected in firm sales figures at projects that have been priced attractively or have dangled discounts, they noted. For instance, competitive prices helped projects such as Coco Palms in Pasir Ris rake in stronger sales than other new launches last month. The 944-unit condominium moved 590 units last month at a median price of $1,018 per sq ft (psf), according to Urban Redevelopment Authority data. This was lower than the median resale price of $1,156 psf over the first five months this year at an older completed condominium just next door, NV Residences, according to caveats at the URA. The OCBC analysts also noted that while developers are likely to ease prices to shift units, "we do not foresee a fire-sale situation... because of the strong balance sheets for large developers". There are around 36,000 unsold new homes in the pipeline, lower than the historical 10-year average of 41,000 units, they noted. They expect new sales of private homes to fall to 10,000 units this year. This would be 33 per cent lower than the 15,015 sold last year, which was in turn 32.4 per cent down on the 22,197 moved in 2012. Maybank Kim Eng analyst Wilson Liew also said in a note earlier this month that he had slashed his forecast for new home sales this year from 13,000 to 14,000 units to 9,000 to 10,000 units. Mr Liew said some upcoming launches may see "uninspiring" sales due to their relatively higher prices. He said that new projects such as the 1,042-unit Marina One in Marina Bay, the 500-unit Highline Residences in Tiong Bahru and the 469-unit The Crest in Prince Charles Crescent are likely to go on sale at prices above $1,500 psf, given their locations. "Sell-through rates may be lower than that of more affordably priced projects in the suburbs." Official flash estimates for private home prices in the second quarter of this year are expected to be released next Tuesday. -
Private home prices are expected to keep falling this year but analysts say a crash is unlikely. OCBC Investment Research forecast yesterday that values could dip 10 to 20 per cent from the start of this year to the end of next year. It warned that mass-market homes could take a bigger hit than the middle and high-end segments but added that the price slide would probably not exceed 20 per cent despite possible oversupply and an expected interest rate increase.
Likewise, Maybank Kim Eng said earlier this month that it expects a price drop of 10 to 15 per cent from now until the end of next year. Both research houses estimate that around 10,000 new private homes will be sold this year. The OCBC analysts, led by Mr Eli Lee, said private home prices are likely to escape a crash due to solid underlying demand, which arose largely on the back of a prolonged period of undersupply of homes from 2004 to 2012. "We see significantly more buyers coming into the market at lower price points, which will likely slow the rate of decline as prices soften." This latent demand is reflected in firm sales figures at projects that have been priced attractively or have dangled discounts, they noted. For instance, competitive prices helped projects such as Coco Palms in Pasir Ris rake in stronger sales than other new launches last month. The 944-unit condominium moved 590 units last month at a median price of $1,018 per sq ft (psf), according to Urban Redevelopment Authority data. This was lower than the median resale price of $1,156 psf over the first five months this year at an older completed condominium just next door, NV Residences, according to caveats at the URA. The OCBC analysts also noted that while developers are likely to ease prices to shift units, "we do not foresee a fire-sale situation... because of the strong balance sheets for large developers". There are around 36,000 unsold new homes in the pipeline, lower than the historical 10-year average of 41,000 units, they noted. They expect new sales of private homes to fall to 10,000 units this year. This would be 33 per cent lower than the 15,015 sold last year, which was in turn 32.4 per cent down on the 22,197 moved in 2012. Maybank Kim Eng analyst Wilson Liew also said in a note earlier this month that he had slashed his forecast for new home sales this year from 13,000 to 14,000 units to 9,000 to 10,000 units. Mr Liew said some upcoming launches may see "uninspiring" sales due to their relatively higher prices. He said that new projects such as the 1,042-unit Marina One in Marina Bay, the 500-unit Highline Residences in Tiong Bahru and the 469-unit The Crest in Prince Charles Crescent are likely to go on sale at prices above $1,500 psf, given their locations. "Sell-through rates may be lower than that of more affordably priced projects in the suburbs." Official flash estimates for private home prices in the second quarter of this year are expected to be released next Tuesday. -
shitty times alwasy like to paint positive news. a fall of 20% means in reality a fall of more than 20% ie probably 40 to 50% is coming. not unrealistic as in europe and USA, property have fallen by 70% at least. more than 20,000 units are coming TOP and even danga bay would relase 30-40,000 units and otehr people are more interested in JB . even sentosa properties have fallen by 30% alrready and heard all the china people are boycotting local roperties as way too expensive. . great news. even the big wigs are panicking. then hong leong guy is asking garmen to relx the cooling measures to protect singapore reputation. what reputation?? reputation for shy high property prices and fat profits for him. fark him for being greedy. assh@les liek him would get his due karma soon.
you are correct.
when chinese prc lost their investment in China, they may not be able to pay mortgages in Singapore and this may contribute bank defaults
Yes. They squealed ... Ouch !:o
ok it's in the news now
Landed properties being auctioned off alarmingly jumped 67%
http://sbr.com.sg/residential-prope...ties-being-auctioned-off-alarmingly-jumped-67
9 out of 10 mortgagee sales failed in 1H14.
Homeowners who are desperate to sell their property are now scaling back their asking prices to attract penny-pinching buyers, a report by Knight Frank revealed today.
http://sbr.com.sg/residential-prope...orrowers-slash-sale-prices-lure-stingy-buyers
Homeowners who are desperate to sell their property are now scaling back their asking prices to attract penny-pinching buyers, a report by Knight Frank revealed today.
http://sbr.com.sg/residential-prope...orrowers-slash-sale-prices-lure-stingy-buyers
please take note that forced selling has started even though uncle sam has yet to raise interest rates.
No. They have thick hides.:o
was there including 1 wif a moss-filled pond infested wif piranhas? ...
really? From my banking sources, i know there are a few small cases of foreigners who run road and default on car/condo loans, but these are very minor. I am truly surprised that you said that there are margin-calls/forced-sellings by banks now because the current interest rates environment is very low, bankers usually ask loan borrowers to try to pay interests first and ignore principal repayment, to buy time.
So the weakest borrowers went on to draw cash from their credit cards to pay the home-loan interests, (effectively sink deeper into the hole) to avoid forced sellings.
On another front, i know small-time developers who rebuild 1-4 units of landed really kanna problems and forced-sellings are scheduled.
mossies are included FOC in some abandoned rebuilt units by small developers. Less than 30 in sg at this moment.
yeah i agreee
i dunno wtf is the shitty times reporting....one day reporting good....one day reporting bad..... like wtf are you reporting please?
alll those cunts trying to loon the mkt go up...all clapo at the "good news"
all those people waiting for it to crash ...all say its coming....
but seriously speaking ....there had been so much fucking money laundering going on for the last decade in stinkapore....the mkt is trangely...stagnant...because all those foreigner fuckers who have bought p[roperty dont even need to rent the apartments out to justify their holding costs ok????
just look the fuck around lor....
so many empty condos and the fucking govt is not even asking any questions....
anyways if you ask me ,.,,,.the prices havent even corrected to 2012 levels....
if anything at all a decent correction should be back to the pre-1k psf for the suburban condos....that would be the right time to start considering what to do in stinkapore.......and with the govt gaming this controlled cornered mkt?? I think everyone better tarn koo koo.....
yeah property crashing right on time and schedule for the pap elections....
just what they needed...a lot of fear and loathing to butter up the suckers whilst their ibnsiders have clready cleared stocks since late last year and the year before...
hahahaha sinkies are really like sheep to the slaughter......
just what they needed...a lot of fear and loathing to butter up the suckers whilst their ibnsiders have clready cleared stocks since late last year and the year before...
hahahaha sinkies are really like sheep to the slaughter......
Singapore Finance Minister Tharman Shanmugaratnam said he expects property prices to fall further, three days after data showed home values in the city-state dropped for a third consecutive quarter.
http://www.therakyatpost.com/business/2014/07/05/singapore-property-prices-likely-drop
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