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Private Home sales at new low

CENWEN

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Home > Breaking News > Singapore > Story
Feb 16, 2009
Home sales at new low <!--10 min-->
<!-- headline one : start --> <!-- headline one : end --> <!-- Author --> <!-- show image if available --> <table width="100%" border="0" cellpadding="0" cellspacing="0"> <tbody><tr></tr> <tr> </tr> <tr> </tr> <tr><td colspan="2" class="padlrt8 georgia11 darkgrey bold">By Joyce Tan </td></tr> <tr valign="bottom"> <td width="330">
privatehomes-newpaper.jpg

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Developers sold only 107 units of new private homes last month, down from 131 units in December, according to data released by the Urban Redevelopment Authority. -- PHOTO: THE NEW PAPER
</td></tr> </tbody></table> <!-- START OF : div id="storytext"-->
JANUARY was another quiet month for sales of new private homes. Data released by the Urban Redevelopment Authority on Monday showed that developers sold only 107 units of new homes last month, down from 131 units in December. The figure is the lowest since monthly data was made public in June 2007. The second lowest monthly sales data was registered last October, when 118 units were sold. In January, developers launched 204 new private homes for sale, up from 157 units last December. There were only a few new launches in January. One of them - Nova 88 - launched 40 units and sold 16 units at a median price of $947 per square foot, making it the top-selling project last month.
 

SamuelStalin

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There should be a private property market crash in Singapore, so that foreigners like us can buy our homes cheaper :wink::wink::wink:

Would be praying for that religiously everyday :smile:


Home > Breaking News > Singapore > Story
Feb 16, 2009
Home sales at new low <!--10 min-->
<!-- headline one : start --> <!-- headline one : end --> <!-- Author --> <!-- show image if available --> <table width="100%" border="0" cellpadding="0" cellspacing="0"> <tbody><tr></tr> <tr> </tr> <tr> </tr> <tr><td colspan="2" class="padlrt8 georgia11 darkgrey bold">By Joyce Tan </td></tr> <tr valign="bottom"> <td width="330">
privatehomes-newpaper.jpg

</td> <td width="10">
c.gif
</td> <td valign="bottom">
c.gif

Developers sold only 107 units of new private homes last month, down from 131 units in December, according to data released by the Urban Redevelopment Authority. -- PHOTO: THE NEW PAPER
</td></tr> </tbody></table> <!-- START OF : div id="storytext"-->
JANUARY was another quiet month for sales of new private homes. Data released by the Urban Redevelopment Authority on Monday showed that developers sold only 107 units of new homes last month, down from 131 units in December. The figure is the lowest since monthly data was made public in June 2007. The second lowest monthly sales data was registered last October, when 118 units were sold. In January, developers launched 204 new private homes for sale, up from 157 units last December. There were only a few new launches in January. One of them - Nova 88 - launched 40 units and sold 16 units at a median price of $947 per square foot, making it the top-selling project last month.
 

allanlee

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There should be a private property market crash in Singapore, so that foreigners like us can buy our homes cheaper :wink::wink::wink:

Dun need to wait for crash....... there's some very good bargains out there if you look hard enough :biggrin: ...... my nephew just picked up a semi-D recently which was valued @ $1.8m last year........ he offered the hongkie owners $888,000/= which they gladly accepted. :p :p :p
 

silverfox@

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Dun need to wait for crash....... there's some very good bargains out there if you look hard enough :biggrin: ...... my nephew just picked up a semi-D recently which was valued @ $1.8m last year........ he offered the hongkie owners $888,000/= which they gladly accepted. :p :p :p

I am sorry to burst your bubble.

Just for your info, a landed property can only be purchased by a local Singaporean or a Permanent Resident.
For a PR to purchase a landed property, he needs to apply for LDAU which is subject to approval.

If you said your nephew picked up the semi-D which was valued last year @ $1.8M, who would have send the same property for valuation? The Hongkie Owner? Maybe you can say the Hongkie Owner is a PR, but a landed property bought by a PR after being LDAU approved cannot rent out or sell the property for 3 years.
How it can be valued last year and then sell it this year? Maybe you have to tell a more realistic story next time
 

SamuelStalin

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Dun need to wait for crash....... there's some very good bargains out there if you look hard enough :biggrin: ...... my nephew just picked up a semi-D recently which was valued @ $1.8m last year........ he offered the hongkie owners $888,000/= which they gladly accepted. :p :p :p

Wow that sounds REALLY CHEAP!!! :smile: Hmm, the Hongkies are superstitious people. 888, 000 sounds good to them (of course they have the money if it were any higher as no matter how expensive private property is in your Singapore it is still piecemeal compared to that in their Hong Kong).

But your nephew lost $1 million. :(

Anyhow I should be more adventurous.
 

kchunjeng

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Request Opinion :

I have S$750,000 hard cash.

Can I go in now for a kill on property ??

Oop..IMH couldn't detect my mental problem again ! SHiT !
 

silverfox@

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I can confirm to you that LDAU is a rubber stamp so long as the PR can confirm that they are financially capable of buying the property.

Moreover, those that come in as PR via the EDB Investor visa, have been known to get assistance from them when it comes to buying landed property.

One of the pre-requirements for LDAU approval is of course you have to be financially capable of buying the property. Another pre-requirement is must pay tax regularly. If you are doing a business in singapore and yet report low profits, while in your bank you still have millions, you don't get that approval. :o
 
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