Singapore - Housing 01 (May 08 - Oct 08)

[ishak]

Ya, see who blink first.

[LenaHuat]

Eagerly awaiting URA's tender result 2day for the Tanah Merah site (juz beside the MRT station). It's the first really choice site after the announcement of the 4th State-sponsored university at the Changi Biz Park (Expo MRT). If this flops, the property market is really heading for the reefs.

[millionairemind]

Eagerly awaiting URA's tender result 2day for the Tanah Merah site (juz beside the MRT station). It's the first really choice site after the announcement of the 4th State-sponsored university at the Changi Biz Park (Expo MRT). If this flops, the property market is really heading for the reefs.

Iceberg ahead..

[HengHeng]

ya ... lelong sales kin .. lol i can borrow for low low rates to buy.. LOL

[OE2008]

Singapore's last property crash was in 1997/98, the Asian Financial Crisis (include CLOB fiasco and Baring Brothers collapse).

The real estates collapse came about when there were:-

-severe economic downturn/recession;
-retrenchment and job loss;
-miserly rental yield;
-negative equity;
-failure to keep up with monthly mortgage payment and lastly
-foreclosure and forced sale.

The same conditions occurred in the 1985/86 crash.

Just pay attention to these indicators. It is not to say that they are imminent. They are certainly possible and some would even say probable .

[-dol-]

Hi OE,

That is a good list of indicators.

I would also add the following:
- net outflow of foreign funds
- high interest rates globally

These conditions can materialise in 2009 or later if global economy continues to deteriorate.

[ishak]

Tender closed on site at New Upper Changi Road; top bid hits S$282 psf
CNA, 09 sep 2008

The URA has closed the tender on a residential site along New Upper Changi Road, with the highest bid coming in at S$84 million from TID.

This translates to S$282 per square foot (psf) per plot ratio, said CB Richard Ellis.

The 9,875.5 square metre site attracted seven bidders.

CB Richard Ellis said the high number of bidders showed that developers still have an appetite for favourable sites even in the current depressed market.

Based on the highest bid, the consultancy estimates that the break even price for the location could be S$700 to S$750 psf. This translates to a potential sale price range of S$800 to S$850 psf.

Comparable developments in the area, such at the Waterfront Waves condominium near Bedok Reservoir, is going for S$800 psf on the resale market.

[-dol-]

ya ... lelong sales kin .. lol i can borrow for low low rates to buy.. LOL

Don't think it's going to happen this year... but...

Hidden Content:

I would be glad to be proven wrong!

[kennynah]

Tender closed on site at New Upper Changi Road; top bid hits S$282 psf
CNA, 09 sep 2008

The URA has closed the tender on a residential site along New Upper Changi Road, with the highest bid coming in at S$84 million from TID.
.

wah liao eh....upper changi road leh...and dare dare bid at this price and dreaming of selling ~$825/psf eventually....seow bo?

[winston]

High-end home prices have dropped by about 15 percent to 20 percent, but will stablise at this level, said Edmund Cheng, Wing Tai Holdings' deputy chairman.

Prices will not crash as long as developers and home sellers hold on to their properties, Cheng said.