Treasure at Tampines

Merg91

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外面的世界 is different from the 'sentiment' in this forum.
The talk-down-the-property-market people (esp one retired 'experienced newbie' ) are usually the loudest.

This is no different in Singapore GE.

I was rather taken aback by this month’s transaction volume because treasure and Florence are never in my radar that they would cross the 100 transaction mark in one month......
 

1993newbie

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Yes the volume is up if you compare it with June 2019 but if you compare it Year on year, it’s actually a decline.

https://www.srx.com.sg/research/554...ale-prices-ease-by-05-on-above-average-volume

“Volumes were 19.8% lower than in July 2018, which saw unusually high activity ahead of the introduction of cooling measures.

However, July 2019’s volumes were 11.1% higher than the 5-year average volume for the month of July.”



Post CM> Volume for resale has remain in the range of 500-900 units resold per month.
OO3Pjgk.jpg




Actually resale volume for some reason spike 32%.

I wonder who is snapping these up. Foreigners are back?
 
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1993newbie

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chopra

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propnex ceo says in 893fm that the top foreign buyers in terms of volume, in descending order, are:
china
msia
india
indo
 

Merg91

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Resale too?
He didn't know July 2018 CM caused such an abnormal sale spike in both new/resale.

(QUOTE=momoeagle;122260096]
SINGAPORE, Aug 15 (Reuters) - Sales of private homes by developers in Singapore dived 31.2% in July from a year earlier, government data showed on Thursday.
Seriously, don't you just love statistics and numbers and how it is always played around for agendas?)

We are comparing Resale.. not new launch
 
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1993newbie

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Yes both new & resale sees a decline in volume as compared to July 2018 where CM was introduced.

Resale too?
He didn't know July 2018 CM caused such an abnormal sale spike in both new/resale.

(QUOTE=momoeagle;122260096]
SINGAPORE, Aug 15 (Reuters) - Sales of private homes by developers in Singapore dived 31.2% in July from a year earlier, government data showed on Thursday.
Seriously, don't you just love statistics and numbers and how it is always played around for agendas?)
 

1993newbie

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Yes not a good benchmark as developers sold tons of units within a night.

However for the resale market, can’t expect hundreds of sellers do open house, sign OTP on the night of CM. Can’t expect Buyers go house hunting for resale on that night too mah.

Yes there might be some cases but July 2018 sees over 1100 resold in the resale market whereas July 2019 sees slightly less than 900 units resold, it’s a decline still.

Whenever CM are introduced , it distorts the market. I remember clearly on that night I just started my night shift when the news comes out, I cry the whole night! Hahhahaha

July 2018 figures are not a good comparison to July 2019 cos during the night pre cooling measures, a lot of units were sold.
 
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Merg91

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Many resale could be almost deal.
But CM announcement that night simply pushed the buyers to rush in to sign on the options before midnight.
This is similar to new sale too.
>1000 buyers had been eyeing for months but CM simply triggered the deals.

No?
 
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1993newbie

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Bro, I’m on board the same boat as you. I bought my resale shoebox 4 months after the CM.

Every few days I would check SRX, edgeprop and UOB valuation. So far it’s positive since my purchase.

Bro, u can try Urbanzoom too. Can get free report too.

Nevertheless all these are just valuation, happy to see paper gain only. Unless materialised If it’s sold.

actually until today, i dunno if i made a right decision.

i sold my telok kurau in july 2018 and bought my current Kovan resale at September 2018.

a lot of pple told me the moment i sold my place.

"dun go and rush in for a replacement home.
go rent for 2 years and slowly find. CM effect takes time and market will drop."

nonetheless, i already knew where i wanted to stay and already shortlisted a few before i even sold my place. so the moment i sold my place, i was on full turbo to close any shortlisted houses in my list.

Fast foward today,

i think i am right is because,

1)
until now, market prices has not crashed.
infact my current house price has all increased in SRX value, UOB Valuation by a fair bit

BUT not Edgeprop Fair value. It has dropped actually. (which kind of worries me)

2) I have to also take into account of the rental. if i still have not purchase any replacement home by now, i will actually have rented a year and counting.


i think i am wrong is because,

1) sometimes i wonder if i could have gotten a better unit since i rushed in.
but in anycase, my wife and i are pleased with how our house renovated to be and we are very comfortable with Kovan, so i guess there is always a better house out there and there is no end to comparison. so be contended with what we have. this is how i console myself. haha.

my own personal journey in relation to NiShiZhu remarks on potential buyers waiting game.

.
 
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Merg91

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Stating the facts.
Let some know the outside world is different from here.

Did I 'talk up' here & >1400 buyers panic buying in July ?
Did I 'talk up' and 2018 CM - 20% didn't materialise?
Lol.
 

ThinkCarefully

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Based on 2013 CMs, the tug of war between buyers and sellers/Developers seems to last longer than this round. The waiting game in buying is getting shorter for this round ever since our latest CM has just crossed its one year anniversary.
Is it because buyers are sick of waiting? Instead of hoping for a major price correction, they probably reckon that chances are slim? Or is it too many buyers Kenna smoked by the hype like some has mentioned? Was keen to hear from different views :D

When they interviewed excited buyers of recent launches, the typical answers are ‘ this is the unit we are eyeing, so we did not wait’ and’. Prices do not seem like coming down.’

Therefore, I tend to think that immediate needs and hype that the market will not fall ( whether increase or not is immaterial) are the key reasons for buyers to take the plunge.

Those who do not need an immediate roof over their heads and looking for investment grade purchase are still shopping or waiting for the weak economy to have some effect on property market.

I believe there are two camps as the sales are encouraging (like 10 to 20% sold during launch weekend) but not very fantastic (unlike yesteryears where every new launch was sold out almost immediately and buyers need to ballot for a chance to buy).

Comparing with 2016, after CMs, I remembered that centrally located development like GEM sold 40 to 50% of total over one to two weekends and yet they sounded very humble like they expected this as the market was recovering. These days, if they can move 20% of total over one weekend they blow huge trumpets and advertise that they sold 80% of launch (ignoring total units) and claim success.
 
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chopra

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When they interviewed excited buyers of recent launches, the typical answers are ‘ this is the unit we are eyeing, so we did not wait’ and’. Prices do not see like coming down.’

Therefore, I tend to think that immediate needs and hype that the market will not fall ( whether increase or not is immaterial) are the key reasons for buyers to take the plunge.

Those who do not need an immediate roof over their heads and looking for investment grade purchase are still shopping or waiting for the weak economy to have some effect on property market.

I believe there are two camps as the sales are encouraging (like 10 to 20% sold during launch weekend) but not very fantastic (unlike yesteryears where every new launch was sold out almost immediately and buyers need to ballot for a chance to buy).

Comparing with 2016, after CMs, I remembered that centrally located development like GEM sold 40 to 50% of total over one to two weekends and yet they sounded very humble like they expected this as the market was recovering. These days, if they can move 20% of total over one weekend they blow huge trumpets and advertise that they sold 80% of launch (ignoring total units) and claim success.
agree. haha.

digress a little.
quite sian that 2nd hand owners are refusing to nego down asking.
 

captain huat

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I was rather taken aback by this month’s transaction volume because treasure and Florence are never in my radar that they would cross the 100 transaction mark in one month. My Guess is buyers are now quantum sensitive especially with projects in the price range of 13xx to 14xxpsf, seems to be quite well received by many. Would such buying sentiments continues and remain sustainable in months to come especially if interest rate is lower?

I made a huge decision in early 2017 to hunt for two properties after selling my landed. Same dilemma like you, not sure if it’s a wrong decision. But I rather not look back or lament too Long since I had already done my research for quite some time.
Of coz if I compare the purchase price in early 2017 vs now, it seems that there’s quite a decent paper gain. But do also note that resale market remain stagnant and monetary profit gain is only materialised after you sold off your property.
Perhaps the only saving grace is I don’t need to spend on rental as I have a current place of my own to stay.

There’s no right or wrong answer in your case as I believe u solely buy for self stay.
Was surprise to hear from u moving from Telok kurau to kovan.
I always thought D15 should be quite conducive to Stay?

Best of luck.

actually bro, the main reason for resale is SPACE.

only older projects can give me the space i need.

i stayed in a mickey mouse 2 bedder at telok kurau. trust me, it is suffocating.

with kids around, its better to let them have space to run/play around in the house.

Space is the main reason for me to change to a bigger house.

new house of my size and want freehold/999, i cannot afford.

even in changi like parc komo confirm cannot afford.

PARC KOMO UPPER CHANGI ROAD NORTH Apartment 17 OCR Freehold New Sale 1 2,001,000 - 1,421 Strata 01 to 05 1,408 Aug-19


and i am pretty sure 1421squarefeet in parc komo, in my opinion will have smaller living space (in terms of bedroom size, living room size, kitchen size, toilet size) than my current resale house.

thats why only resale old house is affordable and acceptable to me lor.
 

Forever84

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When they interviewed excited buyers of recent launches, the typical answers are ‘ this is the unit we are eyeing, so we did not wait’ and’. Prices do not seem like coming down.’

Therefore, I tend to think that immediate needs and hype that the market will not fall ( whether increase or not is immaterial) are the key reasons for buyers to take the plunge.

Those who do not need an immediate roof over their heads and looking for investment grade purchase are still shopping or waiting for the weak economy to have some effect on property market.

I believe there are two camps as the sales are encouraging (like 10 to 20% sold during launch weekend) but not very fantastic (unlike yesteryears where every new launch was sold out almost immediately and buyers need to ballot for a chance to buy).

Comparing with 2016, after CMs, I remembered that centrally located development like GEM sold 40 to 50% of total over one to two weekends and yet they sounded very humble like they expected this as the market was recovering. These days, if they can move 20% of total over one weekend they blow huge trumpets and advertise that they sold 80% of launch (ignoring total units) and claim success.

Face it... The market really kanna hamtam so badly by CM. The first major hammer is TDSR, after that the market really had to adjust. Basically adjust to smaller quantum, lol.

Now with LTV adjusted I think people will take some time to get more ammo
 
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