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Mdm Tang
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http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_684131.html
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Jun 26, 2011
IN THE ST NEWSPAPER TODAY
COV for HDB resale flats up again
By Jessica Cheam, Housing Correspondent
CASH premiums paid by home buyers in the second quarter have shot up to about a median of $31,000 after taking a breather in the first quarter where median COV was $21,000.
Analysts say tight demand has sustained the pressure on prices, but noted that volume of sales have come down in June. Some have attributed it to the 'Khaw' effect - where uncertainty has beset the market since National Development Minister Khaw Boon Wan took over the ministry.
Read the full story in The Sunday Times.
[email protected]
On the outlook for the second quarter:
'We may see the (resale price) index showing a price increase of 2 to 4 per cent - higher than the 1.6 per cent in the first quarter. And we may see similar increases in the quarters ahead.
'The resale market trades on a mindset fixed on COVs; even though valuations have been increasing due to increasing transaction prices. Price negotiations in resale transactions centre on COV rather than the price. Something needs to be done to correct this irrational mindset.'
ERA Realty key executive officer EUGENE LIM
On price movements in the market:
'Based on our data, median resale prices have gone up about 2 to 5 per cent in the second quarter across various flat types. This is slightly higher than the anticipated increase... demand for resale flats is still there and median resale prices can be expected to continue at a quarterly increase of 2 to 4 per cent for the remaining two quarters of 2011.'
PropNex spokesman ADAM TAN
On why prices are rising now:
'When former national development minister Mah Bow Tan introduced the cooling measures last August, there was a wait-and-see attitude adopted by buyers for about two quarters, which was why COV dropped in the last quarter of 2010 and the first quarter of this year.
'When these buyers realised that HDB prices are not dropping any more, but are in fact increasing, they started rushing out to buy. This is what we call 'pent-up demand'. As a result, prices and COVs started rising again in the second quarter.'
C&H Properties key executive officer ALBERT LU
.
http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_684131.html
.
Jun 26, 2011
IN THE ST NEWSPAPER TODAY
COV for HDB resale flats up again
By Jessica Cheam, Housing Correspondent
CASH premiums paid by home buyers in the second quarter have shot up to about a median of $31,000 after taking a breather in the first quarter where median COV was $21,000.
Analysts say tight demand has sustained the pressure on prices, but noted that volume of sales have come down in June. Some have attributed it to the 'Khaw' effect - where uncertainty has beset the market since National Development Minister Khaw Boon Wan took over the ministry.
Read the full story in The Sunday Times.
[email protected]
On the outlook for the second quarter:
'We may see the (resale price) index showing a price increase of 2 to 4 per cent - higher than the 1.6 per cent in the first quarter. And we may see similar increases in the quarters ahead.
'The resale market trades on a mindset fixed on COVs; even though valuations have been increasing due to increasing transaction prices. Price negotiations in resale transactions centre on COV rather than the price. Something needs to be done to correct this irrational mindset.'
ERA Realty key executive officer EUGENE LIM
On price movements in the market:
'Based on our data, median resale prices have gone up about 2 to 5 per cent in the second quarter across various flat types. This is slightly higher than the anticipated increase... demand for resale flats is still there and median resale prices can be expected to continue at a quarterly increase of 2 to 4 per cent for the remaining two quarters of 2011.'
PropNex spokesman ADAM TAN
On why prices are rising now:
'When former national development minister Mah Bow Tan introduced the cooling measures last August, there was a wait-and-see attitude adopted by buyers for about two quarters, which was why COV dropped in the last quarter of 2010 and the first quarter of this year.
'When these buyers realised that HDB prices are not dropping any more, but are in fact increasing, they started rushing out to buy. This is what we call 'pent-up demand'. As a result, prices and COVs started rising again in the second quarter.'
C&H Properties key executive officer ALBERT LU
.
