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<TABLE class=forumline border=0 cellSpacing=1 cellPadding=3 width="100%"><TBODY><TR><TD class=row1 vAlign=top width=150 align=left>handsome investor
Joined: 06 Jun 2007
Posts: 2243
</TD><TD class=row1 height=28 vAlign=top width="100%"><TABLE border=0 cellSpacing=0 cellPadding=0 width="100%"><TBODY><TR><TD width="100%">
Posted: Sun Feb 21, 2010 10:33 pm Post subject: </TD><TD vAlign=top noWrap>
</TD></TR><TR><TD colSpan=2><HR></TD></TR><TR><TD colSpan=2>THE LATEST REGULATION IS VERY GOOD NEWS.
FOR SURE, THE OVERALL PROPERTY MARKET WILL NOT GO DOWN AS IT WILL ENSURE THAT THERE WILL NO LONGER BE ANY FLIPPER BUYERS AND DEVELOPERS. THE MARKET WILL STABILISE AND RISE VERY GRADUALLY OVER THE NEXT 30 - 50 YEARS.
PROPERTY PRICES FOR HDB AND MASS MARKET WILL BE FLAT OR DROP SLIGHTLY FOR THE NEXT TWO YEARS AND THEN RISE GRADUALLY OVER THE FOLLOWING FEW YEARS AFTER THAT DUE TO (1) THE SUCCESS OF THE TWO MEGA INTEGRATED RESORTS, (2) THE GROWTH OF ASIA (3) THE STRENGTHENING OF SINGAPORE AS THE GLOBAL BUSINESS AND FINANCIAL HUB FOR THE ASIA PACIFIC REGION, (4) SINGAPORE'S NEW ECONOMIC STRATEGIES, AND (5) EXCELLENT WORLD CLASS SYSTEMS AND INFRASTRUCTURE.
THE HIGH END PROPERTIES WILL CONTINUE TO RISE TO CATCH UP WITH THE HIGH END PROPERTIES IN HONG KONG AND TOKYO. SINGAPORE'S D9 AND D10 PROPERTIES ARE RELATIVELY VERY CHEAP COMPARED TO THE HIGH END PROPERTIES IN HK AND TOKYO.
LANDED PROPERTIES WILL RISE SIGNIFICANTLY AS THEY ARE GROSSLY UNDERVALUED AND SUPPLY IS VERY LIMITED. MANY IN THE NORTH AND WESTERN TERRACES AND SEMI-D ARE STILL SELLING AT $350 - $450 PSF (ON A BUILT IN BASIS). LANDED PROPERTIES ARE THE MOST PRESTIGIOUS ADDRESSES IN SINGAPORE.
JUST MY HUMBLE GLOBAL GURU OPINION.
Private property resale market may still rise
Sunday Times – 21 Feb 2010
Prices of private property in the resale market could still head north despite the Government’s measures to curb speculation, said industry players.
The reason: People who held back hoping that prices would fall in the recession last year, but are now keen to enter, given the rebound in the market.
Ngee Ann Polytechnic real estate lecturer Nicholas Mak said that based on caveats for last month, the resale market is showing strong volume.
Statistics from the Urban Redevelopment Authority showed there were 3,353 resale transactions in the fourth quarter last year, compared to 5,798 in the third quarter and 4,164 in the second.
Mr Mak added: ‘With the economy picking up and greater job stability, people are buying as their sentiment has turned positive and there are expectations the market could pick up.’
Said ERA agent David Lim: ‘A lot of people reckon we are still probably at the foot of the mountain, and that they should go in now.’
His average monthly transactions for private resale properties have gone up, from three or four last October to five or six in December and January.
Buyers now face tighter rules to curb speculation.
Lending institutions will now be allowed to lend only up to 80 per cent of the value of the property, not 90 per cent.
Anyone who sells a property within a year of buying it must now foot stamp duty of around 3 per cent.
Still, those with deep pockets can still speculate but they may be less active, said ERA agent Eugene Ow.
Mr Lim forsees another peak this year in terms of prices. He said: ‘A large part of the investors with real money can still go in despite these measures.’
Even if they need loans, they might not need the full 90 per cent in the first place anyway, he added.
Commenting on the new measures, Knight Frank property consultant Peter Ow said mid- to long-term buyers with a horizon of more than two to three years would not be discouraged.
Also, the high-end and landed property segments should not be badly hit as people usually buy these for occupation, not speculation.
Mr Peter Ow added: ‘The upgrader market will be the one affected; these are the people moving up from HDB flats to condominiums. They’re the ones who borrow to the maximum of 90 per cent.’
Mr Steven Tan, executive director of property firm OrangeTee, said most banks have already been discouraging clients from taking up 90 per cent loans.
He said: ‘After the financial crisis, most banks tightened credit policies and put a much higher interest rate on those borrowing 90 per cent.
‘So buyers are prepared to borrow less.’
Another reason for prices possibly going up? The fear that more curbs will kick in.
Mr Mak noted the Government has yet to apply all the meaures at its disposal to cool the market.
‘They could put in capital gains tax, or extend stamp duty from one year to maybe two years,’ he said.</TD></TR></TBODY></TABLE></TD></TR></TBODY></TABLE>
Joined: 06 Jun 2007
Posts: 2243
</TD><TD class=row1 height=28 vAlign=top width="100%"><TABLE border=0 cellSpacing=0 cellPadding=0 width="100%"><TBODY><TR><TD width="100%">
Posted: Sun Feb 21, 2010 10:33 pm Post subject: </TD><TD vAlign=top noWrap> </TD></TR><TR><TD colSpan=2><HR></TD></TR><TR><TD colSpan=2>THE LATEST REGULATION IS VERY GOOD NEWS. FOR SURE, THE OVERALL PROPERTY MARKET WILL NOT GO DOWN AS IT WILL ENSURE THAT THERE WILL NO LONGER BE ANY FLIPPER BUYERS AND DEVELOPERS. THE MARKET WILL STABILISE AND RISE VERY GRADUALLY OVER THE NEXT 30 - 50 YEARS.
PROPERTY PRICES FOR HDB AND MASS MARKET WILL BE FLAT OR DROP SLIGHTLY FOR THE NEXT TWO YEARS AND THEN RISE GRADUALLY OVER THE FOLLOWING FEW YEARS AFTER THAT DUE TO (1) THE SUCCESS OF THE TWO MEGA INTEGRATED RESORTS, (2) THE GROWTH OF ASIA (3) THE STRENGTHENING OF SINGAPORE AS THE GLOBAL BUSINESS AND FINANCIAL HUB FOR THE ASIA PACIFIC REGION, (4) SINGAPORE'S NEW ECONOMIC STRATEGIES, AND (5) EXCELLENT WORLD CLASS SYSTEMS AND INFRASTRUCTURE.
THE HIGH END PROPERTIES WILL CONTINUE TO RISE TO CATCH UP WITH THE HIGH END PROPERTIES IN HONG KONG AND TOKYO. SINGAPORE'S D9 AND D10 PROPERTIES ARE RELATIVELY VERY CHEAP COMPARED TO THE HIGH END PROPERTIES IN HK AND TOKYO.
LANDED PROPERTIES WILL RISE SIGNIFICANTLY AS THEY ARE GROSSLY UNDERVALUED AND SUPPLY IS VERY LIMITED. MANY IN THE NORTH AND WESTERN TERRACES AND SEMI-D ARE STILL SELLING AT $350 - $450 PSF (ON A BUILT IN BASIS). LANDED PROPERTIES ARE THE MOST PRESTIGIOUS ADDRESSES IN SINGAPORE.
JUST MY HUMBLE GLOBAL GURU OPINION.
Private property resale market may still rise
Sunday Times – 21 Feb 2010
Prices of private property in the resale market could still head north despite the Government’s measures to curb speculation, said industry players.
The reason: People who held back hoping that prices would fall in the recession last year, but are now keen to enter, given the rebound in the market.
Ngee Ann Polytechnic real estate lecturer Nicholas Mak said that based on caveats for last month, the resale market is showing strong volume.
Statistics from the Urban Redevelopment Authority showed there were 3,353 resale transactions in the fourth quarter last year, compared to 5,798 in the third quarter and 4,164 in the second.
Mr Mak added: ‘With the economy picking up and greater job stability, people are buying as their sentiment has turned positive and there are expectations the market could pick up.’
Said ERA agent David Lim: ‘A lot of people reckon we are still probably at the foot of the mountain, and that they should go in now.’
His average monthly transactions for private resale properties have gone up, from three or four last October to five or six in December and January.
Buyers now face tighter rules to curb speculation.
Lending institutions will now be allowed to lend only up to 80 per cent of the value of the property, not 90 per cent.
Anyone who sells a property within a year of buying it must now foot stamp duty of around 3 per cent.
Still, those with deep pockets can still speculate but they may be less active, said ERA agent Eugene Ow.
Mr Lim forsees another peak this year in terms of prices. He said: ‘A large part of the investors with real money can still go in despite these measures.’
Even if they need loans, they might not need the full 90 per cent in the first place anyway, he added.
Commenting on the new measures, Knight Frank property consultant Peter Ow said mid- to long-term buyers with a horizon of more than two to three years would not be discouraged.
Also, the high-end and landed property segments should not be badly hit as people usually buy these for occupation, not speculation.
Mr Peter Ow added: ‘The upgrader market will be the one affected; these are the people moving up from HDB flats to condominiums. They’re the ones who borrow to the maximum of 90 per cent.’
Mr Steven Tan, executive director of property firm OrangeTee, said most banks have already been discouraging clients from taking up 90 per cent loans.
He said: ‘After the financial crisis, most banks tightened credit policies and put a much higher interest rate on those borrowing 90 per cent.
‘So buyers are prepared to borrow less.’
Another reason for prices possibly going up? The fear that more curbs will kick in.
Mr Mak noted the Government has yet to apply all the meaures at its disposal to cool the market.
‘They could put in capital gains tax, or extend stamp duty from one year to maybe two years,’ he said.</TD></TR></TBODY></TABLE></TD></TR></TBODY></TABLE>
