Singapore - Housing 01 (May 08 - Oct 08)

[HengHeng]

As a potential buyer , can sell sell now hor ... coz i waiting for lelong price then buy .. so if now got people willing to buy from u .. better sell him.

[-dol-]

What would you consider a lelong price? Some examples, please.

Thanks

[HengHeng]

Buy 1 get one get 50% discount for another one ? Buy penthouse get another 1 for free ?

Or lucky draw then u can count the hard cost of the place assuming if it is a cut throat price to prevent further cuts ..

Can see one one lah .. i saw it before during the sars period .. alot of pattern and empty show flats .. then u aga know liaoz.

[LenaHuat]

Juz visited the URA and HDB websites. 2day, both released 3Q 2008 statistics.
Pte residential properties, both price and rental, had fallen but HDB ones are still inching upwards.
No wonder GR said he wished he could own 2 HDB flats

[winston]

Luxury condo prices come off their peaks

(SINGAPORE) Prices for some luxury and high-end projects launched in 2006 and 2007 have come off their peaks by up to about 26 per cent, anecdotal evidence shows.

[LenaHuat]

Pl don't juz read the big bolds and miss out on this following statement in the BT headlines.
That means alot of people can afford that year-end holiday

But most units in high-end projects still changing hands at above their launch prices.

[Blackjack]

Turning Down in a Downturn

Down and Going Further Down: URA and HDB released the real estate statistics for 3Q08 on Friday. The overall theme is down, down, down – as prices and rentals for private residential, office and shop started to ease downwards. We expect this to be the start of a prolonged decline in capital and rental values into 2009.

Residential Prices Down 2.4%: In the residential segment, the private residential property price index (PPI) dropped 2.4% to an index reading of 173.3 points, compared to the 0.2% increase in 2Q08. Rental levels also started to turn, with private residential rentals dropping 0.9% in 3Q08, compared to a 2.5% increase in 2Q08.

On the supply front, there is significant pullback on completion numbers. The most significant decline came from 2010 pipeline numbers, which dropped by more than 3,000 units. Overall, 2009 and 2010 completions pulled back by about 16.4% of 2Q08 forecast numbers within the space of one quarter. The private housing vacancy rate tightened by 0.3ppt to 5.8%.

Be Cautious in Short Term: Negative newsflow such as this will continue to dog the property sector for some time, as the impact of a slowing economy filters down to the physical property market. We remain cautious for the short-term, particularly on the office and high-end residential plays. Our top buys in the sector are Allgreen Properties (BUY, TP S$0.68) on valuation grounds, A-Reit (BUY, TP S$2.10) and Mapletree Logistics (BUY, TP S$0.57) for their more resilient long-lease industrial space portfolio. Top sells include Guocoland (FV, TP S$0.81) and higher-end developers like SC Global (FV, TP S$0.38) and UIC (FV, TP S$1.37).

http://www.remisiers.org/research//sgproperty281008%20%20%20cautious%20%20DBSV.pdf