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Yorkshire

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Looks like it is true that property prices have bottomed. On the way up soon?

My reading of the market is that foreign developers are throwing money into Singapore property market bidding up land prices. These developers will bring with them the entire supply chains and hence lower costs compared with local developers. With 4 years of price declines, developers are drumming up the scene and singing the same tune after government reduce the SSD to 3 years. With prices decline by about 12%, the fear of prices going up to peak level is drawing first timers and PR who have been renting all these years to enter the market. These buyers are not affected by ABSD since they are first time buyers. Foreigners also come into the market but they go for CCR properties because prices have indeed come down more than 30%.

At current prices which are still near peak, the market is still very unstable. The chances of a steep decline is still very high. This could well be a dead cat bounce.
 

NewInvestor

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My reading of the market is that foreign developers are throwing money into Singapore property market bidding up land prices. These developers will bring with them the entire supply chains and hence lower costs compared with local developers. With 4 years of price declines, developers are drumming up the scene and singing the same tune after government reduce the SSD to 3 years. With prices decline by about 12%, the fear of prices going up to peak level is drawing first timers and PR who have been renting all these years to enter the market. These buyers are not affected by ABSD since they are first time buyers. Foreigners also come into the market but they go for CCR properties because prices have indeed come down more than 30%.

At current prices which are still near peak, the market is still very unstable. The chances of a steep decline is still very high. This could well be a dead cat bounce.


Means buy now or wait?
 

hyman

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With prices decline by about 12%, the fear of prices going up to peak level is drawing first timers and PR who have been renting all these years to enter the market.

These buyers are not affected by ABSD since they are first time buyers. Foreigners also come into the market but they go for CCR properties because prices have indeed come down more than 30%.

PRs are affected by ABSD too: it's 5% for the first property, not an insignificant sum.
 
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hyman

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Looks like it is true that property prices have bottomed. On the way up soon?

I suppose by now it's quite obvious that the market is on an up trend, given the recent sales figures, high land prices and higher home prices (many ECs and PCs have already increased prices over the last 6 months by 5-15%, if you care to look around).
 

cheongking888

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Property price up trend?

Your head lah.

Only brand new development with right pricings are sellable as buyer view the prices as justifiable.

Look at resale market. This market is Kan Na sai. Very slow and like ghost town.
 

windwaver

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http://www.straitstimes.com/singapo...rooms-from-2019-shorter-construction-time-and

SINGAPORE - From 2019, all the rooms in one-third of new HDB flats sold will be pre-fabricated as a whole - as part of a push that is expected to shorten construction time and lower costs in the long run.

Entire rooms will be constructed in factories elsewhere, before being assembled on-site. They will come with finishes including floor tiles, window frames, flooring and a lick of paint.

Bathrooms for all new projects will be pre-fabricated, with copper piping, partial tiling, window frames and a waterproofing system.


Currently, the construction time for Build-to-Order projects is around three years.

Said a HDB spokesman in response to The Straits Times queries: "As contractors become familiar with Prefabricated Pre-finished Volumetric Construction (PPVC) construction, we will try to shorten the construction time."

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What is clear is that the method will cut down on the manpower needed in the construction industry, which has long been reliant on foreign workers.


Installing the PPVC rooms and bathrooms will improve project productivity - the amount of floor area completed per man day - by 50 per cent and 10 per cent respectively, the spokesman said.

It is part of the HDB's drive to improve its productivity by 25 per cent in 2020, compared to 2010.

Speaking at the annual HDB Awards Wednesday night, Second Minister for National Development Desmond Lee said the agency has been on track with its goal given the use of technology.

"HDB can construct a four-room flat in 182 man-days today, compared to 205 man-days in 2010," he said.

In the short run though, there will be some adjustments, as the industry grapples with investing in costly technology.

A HDB spokesman said there would be higher construction costs of about 1 per cent for the prefabricated bathrooms and 8 per cent for the PPVC rooms per project, though these costs are expected to come down over time. But she added that these are not likely to have an impact on flat prices, "as the HDB takes into account the location, design features, individual flat attributes, and prevailing market conditions".

But in the long run, says property analyst Ku Swee Yong, chief executive of International Property Advisor, prices should come down over time as construction firms "reap the benefits of economies of scale, reduced interest expenses and risk".

Quality will also improve, said the HDB. For example, the units, built and monitored in a controlled factory environment, are supposed to be more uniform and of better workmanship.

There are also fewer joints, which inproves the water tightness of wet areas.

The PPVC method was piloted in Valley Spring @ Yishun, where construction for the 824 units there started in March this year (2017). Prior to that, the HDB had tested the Prefabricated Volumentric Construction (PVC) approach in West Terra @ Bukit Batok, which is constructed in a similar way, although painting and tiling were done on site.

The pre-fabricated concrete bathrooms were piloted in Fernvale Lea, a BTO in Sengkang ready in January 2016. In total, the HDB has implemented such bathrooms in 15 projects, or 14,000 units.

It will install these bathrooms in 60 per cent of the flats launched this year, before rolling them out to all projects by 2019.

Besides unveiling these new methods of construction, the HDB added in a statement that it has introduced new materials that "improve productivity and offer residents a better home".

These include vinyl strip flooring to replace floor tiles in bedrooms, which can be installed easily on-site or off, and also offers better slip resistance. Another example is unplasticised polyvinyl chloride skirting, which replaces the traditional timber one - this is supposedly of better quality and can be installed more quickly.
 

tan1688

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Hong Kong Finance Chief Warns Again of Property Risk as Fed Acts
By Fion Li / Bloomberg | September 12, 2017 12:03 PM MYT

Hong Kong’s Financial Secretary Paul Chan warned potential buyers to be careful buying property in the world’s most expensive housing market, as moves by the Federal Reserve to unwind its balance sheet may shrink money supply.

Chan warned in June that Hong Kong’s property market is in a “dangerous situation” and vulnerable to a correction. Hong Kong Chief Executive Carrie Lam describes housing as citizens’ No. 1 concern and recently set up a task force on increasing land supply as she tries to rein in ever-escalating prices.

“One has to be very careful if one really wants to buy a property in Hong Kong,” Chan said in an interview on the sidelines of a Belt & Road Forum in Hong Kong on Monday. Buyers need to assess their ability to service mortgages as interest rates normalize, he said

Hong Kong home prices, the least affordable in the world, have surged 21 percent in the 12 months through June 30, the second-biggest gain globally after Iceland, according to a report from broker Knight Frank LLP. The boom in global house prices may be coming to an end as central banks worldwide step away from economic stimulus, with a slowdown in growth already evident in Europe, the broker said.

Sun Hung Kai Properties Ltd, the city’s biggest developer by market value, fell as much as 1.8 percent on Tuesday. Cheung Kong Property Holdings Ltd. declined 1.2 percent. while the benchmark Hang Seng Index was little changed as of 11 a.m. local time.

Expectations for Fed tightening have been scaled back as its preferred inflation gauge has declined for five straight months, sitting below the central bank’s 2 percent goal. Even so, Hong Kong’s leaders are monitoring the situation closely, especially because an unwinding of central bank support could coincide with the addition of a large supply of homes in the city, Chan said. The government estimates 98,000 first-hand housing units will come on the market in the next three or four years.

Not 1997

Past experience indicates that rising U.S. interest rates will “definitely” affect Hong Kong asset prices, Chan said. Combined with the increased supply of homes, “I would not be surprised if there will be a certain adjustment in the market,” he said.

However, the finance chief saw limited impact on Hong Kong’s economy should a correction occur. Chan said the city is more resilient than in 1997 when the Asian financial crisis touched off a six-year property bust.

“I’m not worried about its impact on our economy because the situation is very different from that in 1997, in terms of liquidity of developers, the leverage level of our homebuyers, prevailing interest rates and serviceability,” Chan said. “We are confident even if there’s an adjustment in the property market, we will be able to weather through strongly.”

This story, written by Fion Li, first appeared on Bloomberg.
 
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daxiong88

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My property agent friend sold 4 private condos lay Nov. Private property market still strong or so many rich people around?
 

Wynn100

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Real estate industry to publish customer ratings of property agents, transaction histories

Real estate industry to publish customer ratings of property agents, transaction histories

On a separate note and sharing from experience, THE MORE TRANSACTIONS AN AGENT CLOSES DOES NOT NECESSARILY TRANSLATE TO BETTER SERVICE.
1) Scrutinise the transactions closed and check the amounts closed at, and compare if for the area, is the agent closing usually lower. If indeed he/she has a record of closing lower comparatively, it could very well mean the agent is closing lower to secure the deal at your expense.
2) An agent who closes many transactions, could likely provide poor service in that he/she is too busy to bother with service. Being so busy could translate to poor attitude, for example being late for appointments and not having the courtesy to call to inform and never apologising but are full of lame excuses when queried, missing appointments, or giving lousy advice as too busy to concentrate.
3) Lastly these agents with many transactions are of course very experienced. Unfortunately i've encountered such agents. They use their experience negatively, for example asking for more commission when the transaction price comes in higher. Or they "play mind games" with you to angle for higher commission.
On the contrary, lesser-transactions agents tend to be more honest.
 

blisterplaster

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Does anybody know how Long residents are given to move out after en bloc? Mayfair gardens sold in nov 2017 and it's been past 6 mths but they haven't moved out yet
 

ominblue

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New Freehold Condo Launch at Central Singapore

There's a new freehold condo launching soon in Serangoon Road. Formerly our Singapore's National Aerated Water Co which bottled our childhood drinks like Kickapoo and Sinalco drinks.
Showflat should be ready for preview in June 2018

Check out the website below:

JUI Residences
 
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