tag:blogger.com,1999:blog-30233155502564221342024-02-18T19:30:22.413-08:00Lynn's BlogOn Real Estate News and ListingsLynn Onghttp://www.blogger.com/profile/16307041152518732144noreply@blogger.comBlogger21125tag:blogger.com,1999:blog-3023315550256422134.post-63236176653380643622012-07-22T09:08:00.001-07:002012-07-22T09:08:31.556-07:00ECG Property Logo with Licence Number<span style="font-family: Verdana, sans-serif;">Dear Fellow ECG Property Consultants,</span><br />
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<span style="font-family: Verdana, sans-serif;">Do use this image for your marketing advert.</span><br />
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<span style="font-family: Verdana, sans-serif;">All the best!</span><br />
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<span style="font-family: Verdana, sans-serif;">We do things DIFFERENTLY,</span><br />
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<span style="font-family: Verdana, sans-serif;"><b><span style="font-size: medium;">Lynn ONG | </span></b>BSc. Real Estate (NUS)</span></div>
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<span style="font-family: Verdana, sans-serif;">Senior District Manager</span></div>
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<span style="font-family: Verdana, sans-serif;">Estate Agent no. L3009759F</span></div>
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Lynn Onghttp://www.blogger.com/profile/16307041152518732144noreply@blogger.com0tag:blogger.com,1999:blog-3023315550256422134.post-50181230424081078352011-12-24T23:19:00.000-08:002011-12-24T23:42:33.125-08:00A Report Card on the Property Market<div style="text-align: justify;">
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<span style="font-family: Times, "Times New Roman", serif; font-size: large;">Dear Readers,</span></div>
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<span style="font-family: Times, "Times New Roman", serif; font-size: large;">Straits Times Article on Saturday to sum up 2011 and looking ahead for 2012. Analysis of various districts are also included in the article. </span></div>
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<span style="font-family: Times, "Times New Roman", serif; font-size: large;">Probably my last post of 2011 as well, and to consolidate for 2012 over the next few days.</span></div>
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<span style="font-size: large;">Enjoy reading.</span></div>
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<span style="font-family: Times, "Times New Roman", serif;"><span style="font-size: large;"><strong><span style="color: black;">XMAS Regards,<br /><span style="color: black;">Lynn ONG (</span></span></strong><span style="color: black;"><strong><span style="color: black;">王丽英</span></strong><strong><span style="color: black;">)</span></strong></span></span></span></div>
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<span style="color: black;"><span style="background: none transparent scroll repeat 0% 0%; font-family: Times, "Times New Roman", serif;"><span style="color: black; font-size: large;">Senior District Manager<br />ECG Property Novena District</span></span></span></div>
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<span style="font-family: Times, "Times New Roman", serif;"><span style="color: black;"><span style="background: none transparent scroll repeat 0% 0%;"><span style="color: black; font-size: large;">L3009759F / R014-395F<br />BSc. Real Estate (NUS)</span></span></span></span></div>
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<span style="font-family: Times, "Times New Roman", serif;"><span style="color: black;"><span style="background: none transparent scroll repeat 0% 0%;"></span></span><span style="font-size: large;"><span style="color: black;"><strong><span style="color: black;"><span style="background: none transparent scroll repeat 0% 0%;">Mobile: (+65) 8479 3149</span></span></strong><span style="color: #49535a;"><span style="background: none transparent scroll repeat 0% 0%;"> </span></span></span></span></span></div>
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<span style="background: none transparent scroll repeat 0% 0%; font-family: Times, "Times New Roman", serif;"><span style="color: black; font-size: large;">Email: </span></span><a href="mailto:lynn.lovelyhomes@gmail.com" target="_blank"><span style="color: black;"><span style="background: none transparent scroll repeat 0% 0%; font-family: Times, "Times New Roman", serif;"><span style="color: black; font-size: large;">lynn.lovelyhomes@gmail.com</span></span></span></a></div>
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<span style="color: black;"><span style="background: none transparent scroll repeat 0% 0%;"><span style="font-family: Times, "Times New Roman", serif;"><span style="color: black; font-size: large;">Website: </span></span><a href="http://www.lynnong.net/" target="_blank"><span style="font-family: Times, "Times New Roman", serif;"><span style="color: #2288bb;"><span style="color: black; font-size: large;">http://www.LYNNONG.net/</span></span></span></a></span></span></div>
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<span style="color: black;"><span style="background: none transparent scroll repeat 0% 0%;"><span style="font-family: Times, "Times New Roman", serif;"><span style="color: black; font-size: large;">Blog: </span></span><a href="http://www.lynnlovelyhomes.blogspot.com/"><span style="font-family: Times, "Times New Roman", serif;"><span style="color: #888888;"><span style="color: black; font-size: large;">http://www.lynnlovelyhomes.blogspot.com/</span></span></span></a></span></span><span style="color: black;"><span style="background: none transparent scroll repeat 0% 0%; font-family: Times, "Times New Roman", serif;"><span style="color: black; font-size: large;"> </span></span></span><span style="color: black;"><span style="background: none transparent scroll repeat 0% 0%;"><br /><span style="font-family: Times, "Times New Roman", serif;"><span style="color: black; font-size: large;">[Blogging on Analysis of Listings and Real Estate News]</span></span></span></span></div>
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<strong><span style="font-size: large;">A Report Card on the Property Market</span></strong></div>
<span id="newssph_div_0" style="display: block; text-align: justify;"></span><span style="display: block; text-align: justify;"><em><strong>24 Dec 11</strong></em> - NEW home sales have proved remarkably resilient this year, with buyers nonchalantly shrugging off a host of worries, though the tide may be turning.</span><span style="display: block; text-align: justify;"><br /></span><span style="display: block; text-align: justify;"></span><span style="display: block; text-align: justify;"></span><span style="display: block; text-align: justify;">Data from the Urban Redevelopment Authority (URA) showed that in the first 11 months of this year, developers sold 15,393 new homes. Once this month's figures are in, this year could come close to beating the record-breaking 16,292 homes sold last year, but an apparent slowing in the sector could stymie that.</span><span style="display: block; text-align: justify;"><br /></span><span style="display: block; text-align: justify;"></span><span style="display: block; text-align: justify;"></span><span style="display: block; text-align: justify;">Analysts attribute these remarkably buoyant figures to strong demand for mass market homes, which often seemed impervious to external factors. But others have cautioned that the recent strong demand for homes may have been induced by the number of new developer launches.</span><span style="display: block; text-align: justify;"><br /></span><span style="display: block; text-align: justify;"></span><span style="display: block; text-align: justify;"></span><span style="display: block; text-align: justify;">The strong demand for homes prompted two rounds of property cooling measures this year.</span><span style="display: block; text-align: justify;"><br /></span><span style="display: block; text-align: justify;"></span><span style="display: block; text-align: justify;"></span><span style="display: block; text-align: justify;">The first batch came in January, marking a rocky start to the year. Those rules slapped residential properties with a seller's stamp duty if they were sold within the first four years of purchase and lowered the amount banks can loan to home buyers to 60 per cent. Another even tougher round of cooling measures was rolled out earlier this month. The new rules mean that foreigners and corporate entities will have to fork out an additional buyer's stamp duty of 10 per cent. This is on top of the existing stamp duty of about 3 per cent. Permanent residents buying their second and subsequent homes and Singaporeans buying their third and subsequent homes will have to shell out an additional buyer's stamp duty of 3 per cent.</span><span style="display: block; text-align: justify;"><br /></span><span style="display: block; text-align: justify;"></span><span style="display: block; text-align: justify;">While the tough measures are keeping buyers at bay for now, industry watchers do not expect this to last long. The latest round of measures is largely targeted at foreign buyers, said Mr Joseph Tan, CBRE's head of residential services, a group that is not prominent in the mass market property segment.</span><span style="display: block; text-align: justify;"><br /></span><span style="display: block; text-align: justify;"></span><span style="display: block; text-align: justify;"><span style="background-color: yellow;"><strong>A recent report issued by CBRE outlined how Singaporeans make up 69.9 per cent of caveats lodged for homes outside the central region, and it is this local demand which will help prop up sales of mass market homes next year.</strong></span> Homes in this segment have long been dominated by first-time home owners and HDB upgraders. Now such homes are also a huge draw for investors and foreign buyers like the Chinese and Indonesians who have increasingly been muscling in on the scene.</span><span style="display: block; text-align: justify;"><br /></span><span style="display: block; text-align: justify;"></span><span style="display: block; text-align: justify;">Buyer sentiment is expected to moderate next year, with some analysts predicting a price correction of up to 30 per cent. But places with good fundamentals like a strategic location, access to public transport hubs and an established network of shops and amenities are slated to do well.</span><span style="display: block; text-align: justify;"><br /></span><span style="display: block; text-align: justify;"></span><span style="display: block; text-align: justify;">Several districts have remained tops among buyers while other neighbourhoods have fallen out of favour.</span><span style="display: block; text-align: justify;"></span><b></b><br />
<span style="display: block; text-align: justify;"><br /><strong>What's hot</strong></span><span style="display: block; text-align: justify;"><u><strong>Bedok</strong></u></span><span style="display: block; text-align: justify;">The District 16 town of Bedok is the most popular pick this year, said Mr Nicholas Mak, executive director of research and consultancy at SLP International.</span><span style="display: block; text-align: justify;"><br /></span><span style="display: block; text-align: justify;">So far this year, Bedok has recorded 3,848 caveats for both new and resale transactions. More than 100 units were sold at the 577-unit Archipelago project during its preview weekend earlier this month, at an average of $1,000 per sq ft.</span><span style="display: block; text-align: justify;"><br /></span><span style="display: block; text-align: justify;">Bedok Residences stirred up controversy over its queuing system last month, ultimately selling more than 470 units out of the project's 583 homes at a<strong> <span style="background-color: yellow;">$1,359 psf median price.</span><span style="background-color: white;"> </span></strong></span><span style="display: block; text-align: justify;"><strong><br /></strong></span><span style="display: block; text-align: justify;"></span><span style="display: block; text-align: justify;">'Bedok benefits from a big pool of people who live in the east. This means the pool of potential buyers and sellers is also bigger than in other areas. Most of these people also tend to be reluctant to move outside the east and tend to seek out homes within the eastern neighbourhoods,' said Mr Mak.</span><span style="display: block; text-align: justify;"><br /></span><span style="display: block; text-align: justify;"><u><strong>Punggol</strong></u></span><span style="display: block; text-align: justify;">The rapid redevelopment of the Punggol area has boosted the popularity of this fledgling waterfront new town.</span><span style="display: block; text-align: justify;"><br /></span><span style="display: block; text-align: justify;">According to SLP International, this has helped boost the ranking of District 19, which includes Hougang, Punggol and Sengkang, to the No.1 spot for new home sales, with a total of 3,102 deals so far this year.<strong> <span style="background-color: yellow;">The neighbourhood recently entered a new stage of development, with more than 5,000 new private homes slated for completion over the next few years.</span> Many buyers will be</strong> drawn by an attractive new waterway and plans for a new mall near the MRT station.</span><span style="display: block; text-align: justify;"><br /></span><span style="display: block; text-align: justify;">Still, some buyers have tended to dismiss this neighbourhood, saying it does not measure up to the amenities and infrastructure boasted by mature towns like Toa Payoh and Tampines.</span><span style="display: block; text-align: justify;"><br /></span><span style="display: block; text-align: justify;">But others have been more open to the area's development potential, encouraged by the Government's plan to establish Punggol as a waterfront town. In the first nine months of this year, close to 1,900 uncompleted units were launched for sale in District 19. Projects such as A Treasure Trove and The Luxurie proved a hit, with each development achieving take-up rates of more than 70 per cent.</span><span style="display: block; text-align: justify;"><br /></span><span style="display: block; text-align: justify;">These projects have helped to boost overall sales activity in Punggol by 9 per cent year-on-year, and lifted new home sales in the area by 40 per cent, according to data compiled by Jones Lang LaSalle (JLL).</span><span style="display: block; text-align: justify;"><br /><u><strong>Yishun and Sembawang</strong></u></span><span style="display: block; text-align: justify;">Yishun and Sembawang have also done well, riding on healthy demand for private homes with innovative designs, said Mr Ong Kah Seng, director of property research firm R'ST Research.</span><span style="display: block; text-align: justify;"><br /></span><span style="display: block; text-align: justify;">So far this year, 1,184 new homes have been sold in District 27, which encompasses the Admiralty, Sembawang and Yishun areas. Several notable projects such as Miltonia Residences and Canberra Residences have contributed to the boost in new home sales.</span><span style="display: block; text-align: justify;"><br /></span><span style="display: block; text-align: justify;">Still, Mr Ong added that such far- flung areas face some hurdles as they are not so well-located and do not have significant development potential.</span><span style="display: block; text-align: justify;"><br /></span><span style="display: block; text-align: justify;">This means some buyers may sideline these areas in favour of neighbourhoods like Jurong East and Paya Lebar which have better fundamentals like strategic location and long-term development goals.</span><span style="display: block; text-align: justify;"><br /></span><span style="display: block; text-align: justify;"><u><strong>District 15</strong></u></span><span style="display: block; text-align: justify;">Coming in third in the new home sales ranking is District 15, with nearly 1,149 deals closed this year. Made up of neighbourhoods such as Katong, Joo Chiat and Marine Parade, this location has once again proved to be popular among home buyers.</span><span style="display: block; text-align: justify;"><br /></span><span style="display: block; text-align: justify;">The area has also done well in overall home sales. According to data compiled by Savills, District 15 chalked up 11 per cent of the total caveats lodged this year, second to the 12 per cent garnered by District 19.</span><span style="display: block; text-align: justify;"><br /></span><span style="display: block; text-align: justify;">Ms Chia Siew Chuin, Colliers International's head of research, said the location's popularity stems from its proximity to the city, airport and recreational and leisure facilities such as East Coast Park. '(Districts 15 and 14) also host a wide array of supporting amenities... as well as a large selection of food and beverage haunts,' said Ms Chia.</span><span style="display: block; text-align: justify;"><br /><strong>What's not</strong></span><span style="display: block; text-align: justify;"><u><strong>Districts 9 and 11</strong></u></span><span style="display: block; text-align: justify;">Despite being among Singapore's most prestigious postal codes, Districts 9 and 11 have achieved less than stellar sales this year.</span><span style="display: block; text-align: justify;"><br /></span><span style="display: block; text-align: justify;">The two areas include high-end luxury homes in the Chancery, Bukit Timah, Orchard, Oxley and Cairnhill neighbourhoods.</span><span style="display: block; text-align: justify;"><br /></span><span style="display: block; text-align: justify;">It has been a lacklustre year for the high-end and luxury home segment. The poor transaction volumes in these two particular districts have dragged them to the bottom five postal districts for this year, said Dr Chua Yang Liang, head of research at JLL. Year-on-year sales in District 11 slumped 53 per cent while those in District 9 tumbled 47 per cent.</span><span style="display: block; text-align: justify;"><br /></span><span style="display: block; text-align: justify;">Dr Chua said limited new supply in the prime markets is to blame: 'People looked for better value options with a smaller overall quantum as the economy stuttered and buyers became more budget conscious.</span><span style="display: block; text-align: justify;"><br /></span><span style="display: block; text-align: justify;">'(This benefited) the mass market as the more affordable properties on offer drew in the buyers,' he said, adding that foreign buyers have also been switching their location preference.</span><span style="display: block; text-align: justify;"><br /></span><span style="display: block; text-align: justify;"><strong>Promising</strong></span><span style="display: block; text-align: justify;"><u><strong>Marymount and Thomson</strong></u></span><span style="display: block; text-align: justify;">Interest in this District 20 neighbourhood has been building throughout the year, partly due to the opening of the remaining sections of the MRT network's Circle Line, which now links the area to Holland Village and Buona Vista.</span><span style="display: block; text-align: justify;"><br /></span><span style="display: block; text-align: justify;">'(The neighbourhood) is one of the few low-rise estates available which is centrally located, and perhaps still considered affordable for the average to above-average income buyer,' said Mr Ong.</span><span style="display: block; text-align: justify;"><br /></span><span style="display: block; text-align: justify;">A 603-sq-ft unit at Tresalveo, a condominium located opposite Marymount MRT station, sold last month for $748,000 or $1,241 psf.</span><span style="display: block; text-align: justify;"><br /></span><span style="display: block; text-align: justify;">Mr Ong added that the smaller but more strategically located neighbourhood gives off an exclusive, quaint vibe, which could differentiate the area from the rest of the housing supply that will come onstream in the next few months.</span><span style="display: block; text-align: justify;"><br /></span><span style="display: block; text-align: justify;"><strong>Set to underperform</strong></span><span style="display: block; text-align: justify;"><u><strong>Districts 9, 10, 11</strong></u></span><span style="display: block; text-align: justify;">Prime areas popular among foreign buyers are likely to be the worst performers next year, said JLL's Dr Chua. He explained that these areas will experience a drop in transaction volumes involving foreign buyers as they feel the pinch from the new 10 per cent stamp duty.</span><span style="display: block; text-align: justify;"><br /></span><span style="display: block; text-align: justify;">Other analysts said the market for high-end properties had been slow even before the measures and this trend is set to continue, with prices and sales volumes remaining in the doldrums.</span><span style="display: block; text-align: justify;"><br /></span><span style="display: block; text-align: justify;">The changing profile of foreign buyers is partially to blame, said Mr Mak.</span><span style="display: block; text-align: justify;"><br /></span><span style="display: block; text-align: justify;">'More of them are from China and are turning to suburban residential projects, this compared to earlier batches of buyers like Europeans, Indonesians and Australians who tend to favour snapping up homes in the prime districts.'</span><span style="display: block; text-align: justify;"><br /></span><span style="display: block; text-align: justify;">Next year will no doubt be a challenging one for the private residential market as it adapts to the new cooling measures and the economic slowdown.</span><span style="display: block; text-align: justify;"><br /></span><span style="display: block; text-align: justify;">Segments within the residential market will become more distinct, say analysts, with landed property to be a more resilient sector due to its limited supply and lower foreign participation.</span><span style="display: block; text-align: justify;"><br /></span><span style="display: block; text-align: justify;"><span style="background-color: yellow;"><strong>For now, both buyers and developers are playing a waiting game, said property consultants, and a clearer picture of what tone the market will take will probably emerge only later next year.</strong></span></span><span style="display: block; text-align: justify;"></span><span style="display: block; text-align: justify;">Additional reporting by Esther Teo</span><span style="display: block; text-align: justify;"><br />Source: The Straits Times </span>Lynn Onghttp://www.blogger.com/profile/16307041152518732144noreply@blogger.com0tag:blogger.com,1999:blog-3023315550256422134.post-48590345404475559252011-12-10T23:55:00.001-08:002011-12-11T00:00:33.582-08:00Developers dangling discounts for buyers<span style="font-size: large;">Dear Readers,</span><br />
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<span style="font-size: large;">As expected. Nothing new. =)</span><br />
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<span style="font-size: large;">Cheers!</span><br />
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<span style="font-family: Times, "Times New Roman", serif;"><span style="font-size: large;"><strong><span style="color: black;">Lovely Regards,<br />Lynn ONG (</span></strong><strong><span style="color: black;">王丽英</span></strong><strong><span style="color: black;">)</span></strong></span></span></div>
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<span style="color: black;"><span style="background: none transparent scroll repeat 0% 0%; font-family: Times, "Times New Roman", serif;"><span style="font-size: large;">Senior District Manager<br />ECG Property Novena District</span></span></span></div>
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<span style="font-family: Times, "Times New Roman", serif;"><span style="font-size: large;"><span style="color: black;"><span style="background: none transparent scroll repeat 0% 0%;">L3009759F / R014-395F<br />BSc. Real Estate (NUS)</span></span><strong><span style="color: black;"><span style="background: none transparent scroll repeat 0% 0%;">Mobile: (+65) 8479 3149</span></span></strong><span style="color: #49535a;"><span style="background: none transparent scroll repeat 0% 0%;"> </span></span></span></span></div>
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<span style="background: none transparent scroll repeat 0% 0%; font-family: Times, "Times New Roman", serif;"><span style="font-size: large;">Email: </span></span><a href="mailto:lynn.lovelyhomes@gmail.com" target="_blank"><span style="color: black;"><span style="background: none transparent scroll repeat 0% 0%; font-family: Times, "Times New Roman", serif;"><span style="font-size: large;">lynn.lovelyhomes@gmail.com</span></span></span></a></div>
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<span style="color: black;"><span style="background: none transparent scroll repeat 0% 0%;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-size: large;">Website: </span></span><a href="http://www.lynnong.net/" target="_blank"><span style="font-family: Times, "Times New Roman", serif;"><span style="color: #2288bb;"><span style="font-size: large;">http://www.LYNNONG.net/</span></span></span></a></span></span></div>
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<span style="color: black;"><span style="background: none transparent scroll repeat 0% 0%;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-size: large;">Blog: </span></span><a href="http://www.lynnlovelyhomes.blogspot.com/"><span style="font-family: Times, "Times New Roman", serif;"><span style="color: #888888;"><span style="font-size: large;">http://www.lynnlovelyhomes.blogspot.com/</span></span></span></a></span></span><span style="color: black;"><span style="background: none transparent scroll repeat 0% 0%; font-family: Times, "Times New Roman", serif;"><span style="font-size: large;"> </span></span></span><span style="color: black;"><span style="background: none transparent scroll repeat 0% 0%;"><br /><span style="font-family: Times, "Times New Roman", serif;"><span style="font-size: large;">[Blogging on Analysis of Listings and Real Estate News]</span></span></span></span></div>
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<tr><td colspan="3"><span class="content_bold_title"><strong><span style="font-size: large;">Developers dangling discounts for buyers</span></strong> </span></td></tr>
<tr><td colspan="3" height="15">Reported on 10 Dec 2011<br />
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Some property developers are offering carrots to prospective homebuyers to offset the new</td></tr>
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Some property developers are offering carrots to prospective homebuyers to offser the new stamp duty measures announced by the government a few days ago. </div>
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The Straits Times reported that a 5 per cent relief package is being offered by Far East Organization to affected buyers at all of its already-launched projects. Buyers will be reimbursed 3 per cent of the unit price to offset the new stamp duty. They will also receive a furniture voucher worth 2 per cent of the flat price after putting down a 30 per cent deposit if the project has not been completed. This will be applied across the board to all buyers so foreign buyers will still be worse off. </div>
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Apart from this, some of its other properties also have varying discounts. For instance, units in its Seastrand project in Pasir Ris Drive 3 will be discounted by up to 14 per cent. </div>
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Meanwhile, according to the report, Wing Tai is also offering a relief package for its luxury Helios Residences at Cairnhill Circle, wherein buyers will receive a cash rebate of up to 2 per cent of the total price upon payment. </div>
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The paper also reported that agents at Keppel Land, UOL, CapitaLand, DWG, DTZ and Huttons said they did not know of any discounts on offer. However, some agents of the last three firms said they might be able to negotiate an additional 1 per cent cash rebate. </div>
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Source: <a href="http://business.asiaone.com/Business/News/Story/A1Story20111210-315531.html">Business AsiaOne</a></div>Lynn Onghttp://www.blogger.com/profile/16307041152518732144noreply@blogger.com0tag:blogger.com,1999:blog-3023315550256422134.post-41841359137370939692011-12-10T23:41:00.001-08:002011-12-10T23:52:47.547-08:00Citizens of 5 Countries to pay same stamp duty as Singaporeans<span style="font-family: Times, "Times New Roman", serif; font-size: large;">Dear Readers,</span><br />
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<span style="font-family: Times, "Times New Roman", serif; font-size: large;">Did you know about this? </span><br />
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<span style="font-family: Times, "Times New Roman", serif; font-size: large;">Frankly, I don't and I think that this is good knowledge for all of us. </span><br />
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<span style="font-family: Times, "Times New Roman", serif;"><span style="font-size: large;"><strong><span style="color: black;">Lovely Regards,<br />Lynn ONG (</span></strong><strong><span style="color: black;">王丽英</span></strong><strong><span style="color: black;">)</span></strong></span></span></div>
<div style="margin-bottom: 0in; text-align: justify;">
<span style="color: black;"><span style="background: none transparent scroll repeat 0% 0%; font-family: Times, "Times New Roman", serif;"><span style="font-size: large;">Senior District Manager<br />ECG Property Novena District</span></span></span></div>
<div style="margin-bottom: 0in; text-align: justify;">
<span style="font-family: Times, "Times New Roman", serif;"><span style="font-size: large;"><span style="color: black;"><span style="background: none transparent scroll repeat 0% 0%;">L3009759F / R014-395F<br />BSc. Real Estate (NUS)</span></span><strong><span style="color: black;"><span style="background: none transparent scroll repeat 0% 0%;">Mobile: (+65) 8479 3149</span></span></strong><span style="color: #49535a;"><span style="background: none transparent scroll repeat 0% 0%;"> </span></span></span></span></div>
<div style="margin-bottom: 0in; text-align: justify;">
<span style="background: none transparent scroll repeat 0% 0%; font-family: Times, "Times New Roman", serif;"><span style="font-size: large;">Email: </span></span><a href="mailto:lynn.lovelyhomes@gmail.com" target="_blank"><span style="color: black;"><span style="background: none transparent scroll repeat 0% 0%; font-family: Times, "Times New Roman", serif;"><span style="font-size: large;">lynn.lovelyhomes@gmail.com</span></span></span></a></div>
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<span style="color: black;"><span style="background: none transparent scroll repeat 0% 0%;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-size: large;">Website: </span></span><a href="http://www.lynnong.net/" target="_blank"><span style="font-family: Times, "Times New Roman", serif;"><span style="color: #2288bb; font-size: large;">http://www.LYNNONG.net/</span></span></a></span></span></div>
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<span style="color: black;"><span style="background: none transparent scroll repeat 0% 0%;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-size: large;">Blog: </span></span><a href="http://www.lynnlovelyhomes.blogspot.com/"><span style="font-family: Times, "Times New Roman", serif;"><span style="color: #888888; font-size: large;">http://www.lynnlovelyhomes.blogspot.com/</span></span></a></span></span><span style="color: black;"><span style="background: none transparent scroll repeat 0% 0%; font-family: Times, "Times New Roman", serif;"><span style="font-size: large;"> </span></span></span><span style="color: black;"><span style="background: none transparent scroll repeat 0% 0%;"><br /><span style="font-family: Times, "Times New Roman", serif;"><span style="font-size: large;">[Blogging on Analysis of Listings and Real Estate News]</span></span></span></span></div>
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<span style="font-size: large;"><strong>Citizens of 5 countries to pay same stamp duty as Singaporeans </strong></span><br />
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By Jonathan Kwok from Straits Times<br />
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CITIZENS of five countries that have free trade deals with Singapore, including the United States and Switzerland, will be treated as Singaporeans for the purposes of the new stamp duty measures.</div>
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When they buy a private home, Americans, Swiss and nationals from Liechtenstein, Norway and Iceland will be treated the same as Singapore citizens, the taxman said in a guide on Wednesday.</div>
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This will enable them to avoid the new 10 per cent additional buyer's stamp duty that foreigners now have to pay when they buy a private home.</div>
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Free trade agreements usually ensure that a country's citizens are accorded certain trade protections when they are in the partner nation.</div>
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The Additional Buyer's Stamp Duty (ABSD), as the new levy is called, was announced by the Government on Wednesday and hits foreigners hardest. They have to pay an additional stamp duty of 10 per cent when buying a home.</div>
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But the foreigners from these five countries can apply for remission or relief.</div>
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The Inland Revenue Authority of Singapore (IRAS) website says they must provide identification, acceptance to option to purchase/sale, the purchase agreement and the ABSD declaration form.</div>
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Under the new rules, permanent residents (PRs) buying a second and subsequent property will pay an additional 3per cent stamp duty, while Singaporeans buying their third or subsequent homes must pay an extra 3per cent.</div>
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The rule is also that for purchases made by two or more parties with mixed residency status, such as a Singaporean with PR, the higher rate will be imposed.</div>
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But IRAS also gave examples of situations where remissions can apply. These are in cases where married couples have mixed residency status.</div>
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For example, a PR who currently owns a property while his Singaporean spouse owns none can apply for relief from the additional stamp duty when they co-purchase a home.</div>
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In another scenario, a PR and a Singaporean spouse co-own a property. When they next jointly buy a property, they can apply to be exempt from the 3 per cent levy.</div>
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The relevant documents have to be submitted to IRAS. Relief will also be provided for qualifying developers.</div>
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IRAS also said that people who want to downgrade from private housing to an HDB flat will be allowed a concessionary period to sell their private residential properties. The application for relief in such cases can be made through the HDB.</div>
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<b>More details about the relief schemes can be found in the ABSD e-Tax guide, which can be downloaded from <a href="http://www.iras.gov.sg/irasHome/page04.aspx?id=910">www.iras.gov.sg/irasHome/page04.aspx?id=910</a></b>.</div>
<br />Source: <a href="http://www.singaporelawwatch.sg/remweb/legal/ln2/rss/legalnews/74299.html?utm_source=rss%20subscription&utm_medium=rss">Singapore Law Watch</a><br />
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<strong><span style="font-size: large;">US, Swiss citizens can avoid new Singapore stamp duty - Paper </span></strong><br />
By Business.AsiaOne<br />
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<span class="goog_qs-tidbit goog_qs-tidbit-0">SINGAPORE - Citizens of five countries, including the United States and Switzerland, could avoid paying the additional stamp duty when they purchase a</span> property in Singapore due to tax treaties with the city-state, the Straits Times reported on Friday.<br />
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Similar treatment will also be accorded to citizens of Liechtenstein, Norway and Iceland, who <span class="goog_qs-tidbit goog_qs-tidbit-1">will be treated the same as Singapore citizens, the paper quoted the</span> tax department as saying.<br />
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Singapore announced new measures on Wednesday to cool its housing market, saying foreigners who buy private homes will have to pay an additional stamp duty equal to 10 per cent of the property value.<br />
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Many Singaporeans have blamed an influx of foreigners from China and other locations for driving up the costs of living in Singapore.<br />
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<span style="background-color: yellow;"><strong>Foreigners accounted for 18 per cent of new home units sold in Singapore in the third quarter this year, exceeding the previous peak of 15 per cent in 2007, Citigroup said in a research note.</strong></span><br />
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Source: <a href="http://business.asiaone.com/Business/News/Story/A1Story20111209-315244.html">Business AsiaOne</a>Lynn Onghttp://www.blogger.com/profile/16307041152518732144noreply@blogger.com0tag:blogger.com,1999:blog-3023315550256422134.post-18379884463141793942011-12-10T23:37:00.001-08:002011-12-10T23:54:11.032-08:00Two groups seen to gain from new property curbs<div style="margin-bottom: 0in; text-align: justify;">
<span style="font-family: Times, "Times New Roman", serif; font-size: large;">Dear Readers,</span></div>
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<span style="font-family: Times, "Times New Roman", serif; font-size: large;">Please read the attached article with caution as I question the 'gain' of mass market developers that the reporter had reported.</span></div>
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<span style="font-family: Times, "Times New Roman", serif;"><br /></span></div>
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<span style="font-family: Times, "Times New Roman", serif; font-size: large;">Is there really a 'gain'? <a href="http://lynnlovelyhomes.blogspot.com/2011/12/citizens-of-5-countries-to-pay-same.html">Foreign buyers make up a good 18% of the buyers in the private property market</a> (Citigroup Research Note) and with the private property in the central districts getting out of reach of foreign buyers, they started to move to mass market to buy, creating a pent-up demand. Since the policy targets all foreign buyers, what's there EXACTLY to 'gain' for mass market property buyers? </span></div>
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<span style="font-family: Times, "Times New Roman", serif; font-size: large;">We will get to see if they really do 'gain' from this policy. But the truth is, developers do have the holding power hence, they will not be dropping the price anytime soon unless they had finished developing and approaching the 5 years timeline set by the Govt. </span></div>
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<span style="font-family: Times, "Times New Roman", serif; font-size: large;">Happy Weekend!</span></div>
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<span style="font-family: Times, "Times New Roman", serif;"><strong><span style="color: black;"><span style="font-size: large;">Lovely Regards,<br />Lynn ONG (</span></span></strong><strong><span style="color: black;"><span style="font-size: large;">王丽英</span></span></strong><strong><span style="color: black;"><span style="font-size: large;">)</span></span></strong></span></div>
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<span style="color: black;"><span style="font-size: large;"><span style="background: none transparent scroll repeat 0% 0%; font-family: Times, "Times New Roman", serif;">Senior District Manager<br />ECG Property Novena District</span></span></span></div>
<div style="margin-bottom: 0in; text-align: justify;">
<span style="font-family: Times, "Times New Roman", serif;"><span style="color: black;"><span style="font-size: large;"><span style="background: none transparent scroll repeat 0% 0%;">L3009759F / R014-395F<br />BSc. Real Estate (NUS)</span></span></span><strong><span style="color: black;"><span style="font-size: large;"><span style="background: none transparent scroll repeat 0% 0%;">Mobile: (+65) 8479 3149</span></span></span></strong><span style="color: #49535a;"><span style="font-size: large;"><span style="background: none transparent scroll repeat 0% 0%;"> </span></span></span></span></div>
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<span style="font-size: large;"><span style="background: none transparent scroll repeat 0% 0%; font-family: Times, "Times New Roman", serif;">Email: </span></span><a href="mailto:lynn.lovelyhomes@gmail.com" target="_blank"><span style="color: black;"><span style="font-size: large;"><span style="background: none transparent scroll repeat 0% 0%; font-family: Times, "Times New Roman", serif;">lynn.lovelyhomes@gmail.com</span></span></span></a></div>
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<span style="color: black;"><span style="font-size: large;"><span style="background: none transparent scroll repeat 0% 0%;"><span style="font-family: Times, "Times New Roman", serif;">Website: </span><a href="http://www.lynnong.net/" target="_blank"><span style="font-family: Times, "Times New Roman", serif;">http://www.LYNNONG.net/</span></a></span></span></span></div>
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<span style="color: black;"><span style="font-size: large;"><span style="background: none transparent scroll repeat 0% 0%;"><span style="font-family: Times, "Times New Roman", serif;">Blog: </span><a href="http://www.lynnlovelyhomes.blogspot.com/"><span style="font-family: Times, "Times New Roman", serif;">http://www.lynnlovelyhomes.blogspot.com/</span></a></span></span></span><span style="color: black;"><span style="background: none transparent scroll repeat 0% 0%; font-family: Times, "Times New Roman", serif;"> </span></span><span style="color: black;"><span style="font-size: large;"><span style="background: none transparent scroll repeat 0% 0%;"><br /><span style="font-family: Times, "Times New Roman", serif;">[Blogging on Analysis of Listings and Real Estate News]</span></span></span></span></div>
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<span style="font-family: Times, "Times New Roman", serif;"><strong><span style="font-size: medium;">Two groups seen to gain from new property curbs</span></strong><br /><span class="update">By Wayne Chan | </span><span class="update">Posted: 10 December 2011 2301 hrs <br /></span><link href="http://www.channelnewsasia.com/components/display_image.php?id=474680" rel="image_src"></span></div>
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<span name="advenueINTEXT"><span style="font-family: Times, "Times New Roman", serif;">SINGAPORE: As the property market reels from the shock of new curbs to cool prices, some market watchers say two groups will stand to benefit the most.<br /><br />They are the <strong><span style="background-color: yellow;">mass market condominium developers and Singaporeans who are buying their</span></strong></span></span><span name="advenueINTEXT"><span style="font-family: Times, "Times New Roman", serif;"><strong><span style="background-color: yellow;"> first private property or upgraders.</span></strong>Meanwhile a check on the showflats on the first weekend after the new property curbs took effect showed mixed scenes. While some showrooms were quiet on Saturday, others like the one for the Palette at Pasir Ris saw a steady flow of potential buyers.<br /><br />Is the quiet scene a sign of the lull that property watchers have predicted in the wake of the new curbs to cool the market? It depends, as it is now the December school holiday period, which is usually quiet on the property front.<br /><br />Nevertheless, property watchers expect many to adopt a wait-and-see approach in the wake of the new measures. <br /><br />But one group appears to be paying more attention to the price movements - Singaporeans who do not have to pay the extra buyer's stamp duty for a second property and who think private home prices will dip now that an additional 10 per cent stamp duty has been imposed on foreigners.<br /><br />SLP International's executive director for research & consultancy, Nicholas Mak, told Channel NewsAsia that the additional tax may deter foreigners buying private properties in Singapore.<br /><br />He said: "The stamp duties to be levied on non-resident foreign buyers are actually very hefty. Going ahead, there'll be market uncertainties and investors are not sure whether their investments are able to recover the stamp duties, or, maybe even be profitable. Hence that additional stamp duty is going to deter some of the short-term speculative buyers."<br /><br />Singaporeans planning to buy their first private property welcomed the changes.<br /><br />Managing director Don Tan, a 36-year-old Singaporean with a family of four, said: "Singaporeans can really plan for the future. If it (price) keeps rising, then I think my future generation, there's no place for us already...(In) Singapore, after all, the land is constrained so it's better that we put some control to it (property market) so that Singaporeans are put on a higher priority." <br /><br />Mr Jing Yang, 29, an IT engineer, said the new property measures have their pros and cons. He said: "...it might help more Singaporeans to own private property. But if you are doing investment, it's a higher risk now."<br /><br />SLP International's Mr Mak said that mass market condominium developers should stand to benefit from the new measures.<br /><br />He said: <strong><span style="background-color: yellow;">"The latest round of measures are going to affect different developers differently, because it's going to adversely affect the high-end properties more than the mass market properties."</span></strong><br />"The reason is that high-end properties depend more on investors and also sometimes they are targeted at foreign investors. Hence developers who specialise in high-end properties might be more affected than those who specialise in mass market condominiums.<br /><br />"Developers of mass market condominiums might look at their product mix. They may want to develop more three-bedroom or larger-size apartments to attract Singaporean buyers who may be planning to buy for their own occupation, because such buyers are not affected or less affected by the latest cooling measures."<br /><br />Mr Mak added some developers are speeding up plans to launch their projects while market conditions remain favourable, before the situation becomes more uncertain next year.<br /><br />- CNA/ir </span></span></div>
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<span style="font-family: Times, "Times New Roman", serif;">Source: </span><a href="http://www.channelnewsasia.com/stories/singaporelocalnews/view/1170588/1/.html"><span style="font-family: Times, "Times New Roman", serif;">Channel News Asia</span></a></div>Lynn Onghttp://www.blogger.com/profile/16307041152518732144noreply@blogger.com0tag:blogger.com,1999:blog-3023315550256422134.post-78591217547881819632011-12-10T23:13:00.001-08:002011-12-10T23:52:59.602-08:00Property measures: Why projects must be built and sold in 5 years<div style="text-align: justify;">
<span style="font-family: Times, "Times New Roman", serif; font-size: large;">Dear Readers,</span></div>
<span style="font-family: Times, "Times New Roman", serif;"></span><br />
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<span style="font-family: Times, "Times New Roman", serif; font-size: large;">A simple read on the rationale of getting developers to follow the timeline of 5 years, in order for them to avoid the </span><a href="http://lynnlovelyhomes.blogspot.com/2011/12/additional-buyers-stamp-duty-for-stable.html"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Additional Buyer Stamp Duty</span></a><span style="font-family: Times, "Times New Roman", serif; font-size: large;">.</span></div>
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<span style="font-family: Times, "Times New Roman", serif; font-size: large;">Cheers!</span></div>
<span style="font-family: Times, "Times New Roman", serif;"></span><br />
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<span style="color: black;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;"><strong>Lovely Regards,<br />Lynn ONG (王丽英)</strong></span></span></div>
<div style="text-align: justify;">
<span style="color: black;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Senior District Manager<br />ECG Property Novena District</span></span></div>
<div style="text-align: justify;">
<span style="color: black;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-size: large;">L3009759F / R014-395F<br />BSc. Real Estate (NUS)<br /><strong>Mobile: <span class="skype_pnh_print_container">(+65) 8479 3149</span></strong><span class="skype_pnh_container" dir="ltr"><span style="color: #49535a;"><span class="skype_pnh_mark"> </span></span></span></span></span></span></span></div>
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<span class="skype_pnh_container" dir="ltr"><span class="skype_pnh_mark"></span></span><span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-size: large;">Email: </span></span></span><a href="mailto:lynn.lovelyhomes@gmail.com" target="_blank"><span style="color: black;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-size: large;">lynn.lovelyhomes@gmail.com</span></span></span></span></a></div>
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<span style="color: black;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-size: large;">Website: </span></span></span></span><a href="http://www.lynnong.net/" rel="nofollow" target="_blank"><span style="color: black;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-size: large;">http://www.LYNNONG.net/</span></span></span></span></a></div>
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<span style="color: black;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-size: large;">Blog: </span></span></span></span><a href="http://www.lynnlovelyhomes.blogspot.com/"><span style="color: black;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-size: large;">http://www.lynnlovelyhomes.blogspot.com/</span></span></span></span></a><span style="color: black;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-size: large;"> <br />[Blogging on Analysis of Listings and Real Estate News]</span></span></span></span></div>
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<span style="color: black;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: Times, "Times New Roman", serif;"></span></span></span><span style="color: black;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: Times New Roman; font-size: small;">- Published on Dec 10, 2011</span></span></span></span> <br />
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<span style="font-size: large;">Property measures: Why projects must be built and sold in 5 years </span></h1>
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<span style="color: black;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: Times, "Times New Roman", serif;">The Government has explained its rationale behind a new rule requiring developers to build and sell all units on residential sites within five years or face a 10 per cent stamp duty.<br /><br />In response to questions posed by The Straits Times, the Ministry of Finance (MOF) said the five-year limit is imposed to ensure that developers follow through with the development.<br /><br />'A five-year condition for completion of development and sale is needed, as otherwise, developers holding on to their units are no different from corporate entities holding investment properties,' an MOF spokesman added.<br /><br />Developers will have to develop any residential land parcels they buy from Dec 8 and sell all the units in the project in the timeframe - if they want to avoid paying the new 10 per cent additional buyer's stamp duty.</span></span></span></div>
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Source: <a href="http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_743434.html">Straits Times</a><br />
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<br /></div>Lynn Onghttp://www.blogger.com/profile/16307041152518732144noreply@blogger.com0tag:blogger.com,1999:blog-3023315550256422134.post-10752726105822280642011-12-10T22:40:00.001-08:002011-12-10T22:48:31.104-08:00New Cooling Measures: Shifting the Goalposts<span style="font-family: Times; font-size: large;">Dear Readers,</span><br />
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<span style="font-family: Times; font-size: large;">Another article analyzing into the impact of the new measures from the perspective of developers, how developers can game the system and the potential intention of the Government in implementing this policy with directions taken from the Government Land Sales List. </span><br />
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<span style="font-family: Times; font-size: large;">Happy Reading!</span><br />
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<span style="font-family: Times; font-size: large;">Weekend Regards, </span><br />
<strong><span style="font-family: Times; font-size: large;">Lynn ONG (王丽英)</span></strong><br />
<span style="color: black;"><span style="font-family: Times; font-size: large;">Senior District Manager<br />ECG Property Novena District</span></span><br />
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<span style="color: black;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-size: large;">L3009759F / R014-395F<br />BSc. Real Estate (NUS)<br /><strong>Mobile: <span class="skype_pnh_print_container">(+65) 8479 3149</span><span class="skype_pnh_container" dir="ltr"><span style="color: #49535a;"><span class="skype_pnh_mark"> </span></span></span></strong></span></span></span></span></div>
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<strong><span class="skype_pnh_print_container"><span class="skype_pnh_container" dir="ltr"><span class="skype_pnh_mark"></span></span></span></strong><span style="color: black;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Email: </span></span></span><a href="mailto:lynn.lovelyhomes@gmail.com" target="_blank"><span style="color: black;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">lynn.lovelyhomes@gmail.com</span></span></span></a></div>
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<span style="color: black;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Website: </span></span></span><a href="http://www.lynnong.net/" rel="nofollow" target="_blank"><span style="color: black;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">http://www.LYNNONG.net/</span></span></span></a></div>
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<span style="color: black;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Blog: </span></span></span><a href="http://www.lynnlovelyhomes.blogspot.com/"><span style="color: black;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">http://www.lynnlovelyhomes.blogspot.com/</span></span></span></a><span style="color: black;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;"> <br />[Blogging on Analysis of Listings and Real Estate News]</span></span></span><br />
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<strong><span style="font-size: large;">New cooling measures: Shifting the goalposts</span></strong></div>
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<span style="font-size: small;">by Colin Tan </span></div>
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<span style="font-size: small;">04:45 AM Dec 09, 2011</span></div>
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Are the latest cooling measures - specifically targeted at the private housing market - what many Singaporeans have been waiting for since the General Election in May?<br /><br />Wednesday's announcement of an additional buyer's stamp duty of 10 per cent for foreigners and 3 per cent for Permanent Residents already owning one or more properties and for Singaporeans already owning two or more properties caught the market by surprise. <br /><br />The reaction of the Real Estate Developers Association of Singapore (REDAS) was understandably one of deep disappointment. Almost a whole year of residential land sales have been snapped up. Millions of dollars have been poured into these ventures. The sudden introduction of the measures is akin to shifting the goalposts halfway during the game.<br /><br />The problem is probably one of miscommunication. In all its actions to date, the authorities have not let on that investment buys could be a problem. In fact, all four earlier sets of cooling measures were aimed at reducing speculation and stabilising prices. Now, it seems all of us were fooled. A statement or two indicating otherwise would have been greatly appreciated. At least, some developers would have factored this in as a risk when bidding for sites. <br /><br />Then again, aren't developers supposed to factor in such risks?<br /><br />Many analysts have singled out luxury homes as the market segment that stands to lose the most. Are we not forgetting that buyers in this segment are more concerned with the product than its price. Is an outlay of a mere 10 per cent more going to deter the ultra-rich from any of these purchases.<br /><br />For sure, nobody likes to be discriminated against. <span style="background-color: yellow;"><strong>All the developer has to do is to raise the price by 10 per cent but offer to absorb the additional stamp duty.</strong></span> The problem is psychological rather than real. Admittedly, sales for this market segment have been slow but it will not be any slower because of the new measures, unless of course, the product is more high-priced than high-end.<br /><br />Wednesday's announcement came very soon after Minister of National Development Khaw Boon Wan's wish that the HDB first-timers' application rate for the Build-To-Order launch would fall below 2 times was fulfilled way beyond his expectations. <strong><span style="background-color: yellow;">Has the focus now shifted to fulfilling citizens' upgrading aspirations? It appears to be so.<br /></span></strong>The supply of Executive Condominiums (ECs) has been raised for next year. On the Government's Confirmed List of land sales for the first half of next year, five are for ECs. It is also probably recognition of the fact that the latest stamp duty changes would not correct private property prices soon enough or <span style="background-color: yellow;"><strong>at least not enough to fulfil some of the upgrading aspirations</strong></span>. Depending on demand, we can expect more EC sites to be offered for sale in the coming years.<br /><br />Apart from what is likely to have been miscommunication, I would say the measures are finally addressing <span style="background-color: yellow;"><strong>the problem of excessive liquidity</strong></span> and the dangers it could pose for a small open economy like Singapore's. <br /><br />Compared to the earlier changes in January, where up to 16 per cent in seller's stamp duty may be imposed depending on the timing of the divestment, the current set of changes is actually less drastic but more effective. But will it be enough?<br /><br />To potential first-time private home buyers expecting a sharp drop in prices, it is too early to cheer. <span style="background-color: yellow;"><strong>Even if property prices were to start to correct from today, it may be many months before they reach your affordability levels.</strong></span><br />Time and time again, I have advised against under-estimating the liquidity challenge. How many of us thought that the cooling measures imposed in January marked the start of a decline of the residential market. I can tell you there were many red faces thereafter, some of them of very prominent market analysts.<br /><br />How many times have our neighbours played our local investors out by changing the rules mid-way, but has this stopped property investments in these countries? The answer is no.<br /><br />It is well-known that Hong Kong and Singapore are two favourite property investment destinations for mainland Chinese investors. If you have not been monitoring Hong Kong property prices, take a look now and then look at Singapore's. Then tell me whether the effectiveness of the current measures can be sustained over time. <br /><br />Colin Tan is head of research and consultancy at Chesterton Suntec International.</div>
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Source: <a href="http://www.todayonline.com/Commentary/EDC111209-0000075/New-cooling-measures--Shifting-the-goalposts">TODAY Online</a></div>Lynn Onghttp://www.blogger.com/profile/16307041152518732144noreply@blogger.com0tag:blogger.com,1999:blog-3023315550256422134.post-20938124192230718042011-12-08T05:57:00.001-08:002011-12-10T22:34:37.071-08:00Market Watchers Divided Over New Property Curbs<span style="color: black; font-family: Times, "Times New Roman", serif; font-size: large;">Dear Readers,</span><br />
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<span style="font-family: Times, "Times New Roman", serif; font-size: large;">The title of this post sums up the gist of the article. </span><br />
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<span style="font-family: Times; font-size: large;">So will the market go down or not? What's the prediction?</span><br />
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<span style="font-family: Times, "Times New Roman", serif; font-size: large;">Read On.</span><br />
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<span style="font-family: Times, "Times New Roman", serif;"><span style="font-size: large;"><span style="font-family: Times, "Times New Roman", serif;">Cheers!</span><br /><strong><span style="font-family: Times, "Times New Roman", serif;">Lynn ONG (王丽英)</span></strong></span></span><br />
<span style="color: black;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Senior District Manager<br />ECG Property Novena District</span></span></span><br />
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<span style="color: black;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-size: large;">L3009759F / R014-395F<br />BSc. Real Estate (NUS)<br /><strong>Mobile: <span class="skype_pnh_print_container">(+65) 8479 3149</span><span class="skype_pnh_container" dir="ltr"><span style="color: #49535a;"><span class="skype_pnh_mark"> </span></span></span></strong></span></span></span></span></div>
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<strong><span class="skype_pnh_print_container"><span class="skype_pnh_container" dir="ltr"><span class="skype_pnh_mark"></span></span></span></strong><span style="color: black;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Email: </span></span></span><a href="mailto:lynn.lovelyhomes@gmail.com" target="_blank"><span style="color: black;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">lynn.lovelyhomes@gmail.com</span></span></span></a></div>
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<span style="color: black;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Website: </span></span></span><a href="http://www.lynnong.net/" rel="nofollow" target="_blank"><span style="color: black;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">http://www.LYNNONG.net/</span></span></span></a></div>
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<span style="color: black;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Blog: </span></span></span><a href="http://www.lynnlovelyhomes.blogspot.com/"><span style="color: black;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">http://www.lynnlovelyhomes.blogspot.com/</span></span></span></a><span style="color: black;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;"> <br />[Blogging on Analysis of Listings and Real Estate News]</span></span></span></div>
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<span style="color: black;">Analysts and developers say the latest cooling measures announced Wednesday were unexpected and the harshest they have seen by far, <span style="background-color: yellow;">which may result in a 40 per cent drop in transaction volume in prime districts.</span></span></div>
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<span style="color: black;">"At first glance, these latest cooling measures do seem pretty drastic, especially when both transactions and price growth in Singapore are declining and there is significant supply coming into the market during 2012/13. We're also seeing economies across Asia cooling, with many central banks recently cutting their base rates. <span style="background-color: yellow;">Hong Kong has also started to remove its own property cooling measures this week</span>," says Steve Melhuish, CEO and co-founder of PropertyGuru.</span></div>
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<span style="color: black;">"Given the uncertainty in current market outlook, the latest measures on additional buyer's stamp duty were unexpected. We will need to study the details to determine their impact and we will take them into consideration in our plans moving forward," says Wong Heang Fine, CEO of CapitaLand Residential Singapore.</span></div>
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<span style="color: black;">"This is going to be a major psychological setback and the immediate reaction will be a slowdown in (the) private property, <span style="background-color: yellow;">with transaction volume diving by 40 per cent in the core central region and a dip of 20 per cent in the mass market segment.</span> This is a double whammy for foreign buyers, as in the earlier cooling measure of sellers' stamp duty, and has already eradicated speculators," say Mohamed Ismail, CEO of PropNex Realty.</span></div>
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<span style="color: black;">"It is an additional 10 per cent, which is quite hefty. At the end of the day, foreign buyers will need to evaluate their purchases. Over the next three to six months, we are going to see a decline in interest from foreigners," says Tan Kok Keong, director for research and consultancy at OrangeTee.</span></div>
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<span style="color: black;">The latest cooling measures will have an impact foreign investors </span><span style="color: black;">buying private properties</span><span style="color: black;"> in Singapore.</span></div>
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<span style="color: black;">They will now have to fork out a 10 percent increase in the stamp duty.</span></div>
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<span style="color: black;">Permanent Residents (PRs) and Singaporeans will also be affected with an increased stamp duty on their second and third properties, respectively.</span></div>
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<span style="color: black; font-size: large;"><strong>Market players divided</strong></span></div>
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<span style="color: black;">The swiftness in the way the latest property curbs were implemented caught market watchers by surprise.</span></div>
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<span style="color: black;">"These latest measures on the stamp duty comes as a surprise at a time when transactions are slowing down by 20 per cent quarter-on-quarter and price growth is moderating at an increase of 1.3 quarter-on-quarter in the third quarter per cent," says Tejaswi Chunduri, real estate analyst at PropertyGuru.</span></div>
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<span style="color: black;">Singapore has been trying to cool its red-hot property market since January this year when the government implement the sellers' stamp duty to weed out speculators from the private property market.</span></div>
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<span style="color: black;">"It seems the government is more concerned about speculation and foreigners buying property in Singapore. The previous measures announced in January have certainly helped reduce speculation," says Chunduri.</span></div>
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<span style="color: black;">Nevertheless, property prices have been on the uptrend, albeit at a slower rate, according to third quarter data from the Urban Redevelopment Authority (URA).</span></div>
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<span style="color: black;"><span style="background-color: yellow;">"I think the government is probably worried that the Eurozone countries will start doing to do another round of quantitative easing and the money could move to Asia.</span> The last two rounds of meetings in the United States have helped spur our property market. Therefore, the latest measures are to make it more sustainable to<span style="background-color: yellow;"> prevent excessive liquidity from entering the market</span>," says Tan.</span></div>
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<span style="background-color: yellow; color: black;">Responses from market players have so far been divided.</span></div>
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<span style="color: black;">Some agree with the government's move.</span></div>
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<span style="color: black;">"I do agree with the timing in which our government has taken action. Despite the earlier cooling measures, the effect has not really affected the market especially the foreign investors. As you know, it is the foreigners who have been purchasing at high prices and thus making a lot of buyers asking their selling prices higher than expected or valued," says Raymond Chow, CEO, Ray International Real Estate Group.</span></div>
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<span style="color: black;">Others question if it is has gone too far.</span></div>
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<span style="color: black;">"Foreigner buyers account for less than 10 per cent of transactions, and we have to question whether foreigners will start to look elsewhere with the increasingly expensive cost of living. Malaysia and Hong Kong could well become a more attractive destination for expats," Melhuish says.</span></div>
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<span style="color: black;">Analysts in Malaysia say it may deter both foreigners and Singaporeans from </span><span style="color: black;">buying homes</span><span style="color: black;"> here.</span></div>
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<span style="color: black;">"To pay a 10 per cent premium on top of the 3 per cent stamp duty would be a deterrent for investors but this <span style="background-color: yellow;">could be a short term strategy to cool investor sentiment until the market settles down</span>," says Kumar Tharmalingam of Malaysia Property Incorporated, a government initiative under the purview of the Economic Planning Unit.</span></div>
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<span style="color: black;">Tharmalingam cites the cost of an average value of a Singapore property to a foreigner to be about $1.5 million.</span></div>
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<span style="color: black;">"With the additional 10 per cent, it will add $150, 000 to the total cost of the stamp duty, which is already at 3 per cent," says Tharmalingam.</span></div>
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<span style="color: black; font-size: large;"><strong>Impact</strong></span></div>
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<span style="color: black;">Singapore has always been a safe haven among foreign investors due to its stable political climate and sterling economic performance.</span></div>
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<span style="color: black;">Market players that PropertyGuru spoke to say regular expatriates will be the most affected by the latest property curbs.</span></div>
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<span style="color: black;">"The reality is that it will be the regular expats who are affected most by these new measures. Wealthy expats and foreigners who are looking to shift their wealth to safer havens, such as those from China or India, will not be impacted by these measures. These buyers will continue to drive the top end of the private home market," says Ella Sherman of Premier Realty.</span></div>
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<span style="color: black;">Another affected group will be PRs and Singaporeans buying for investment.</span></div>
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<span style="color: black;">"These new measures will impact a buyer's approach. If a buyer's intention is to purchase for his own occupation, he should not be affected. <span style="background-color: yellow;">It will affect PRs or Singaporeans if they are buying as a second or third home onwards as an investment</span>," says Chow.</span></div>
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<span style="color: black;">In addition, more foreigners may opt to rent.</span></div>
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<span style="color: black;">"You will see more foreigners opting to rent than buy. You could see more rentals transactions taking place," says Tan.</span></div>
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<span style="color: black;">Tan adds that it is unlikely the rental market will see a very sharp increase in rental rates as the external conditions such as rate of immigration and economy are already quite challenging. </span><span style="color: black;">"People who will want to rent are not likely to spend beyond their means," says Tan. </span><span style="color: black;">Chow also adds the market is entering a period of uncertainty.</span></div>
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<span style="color: black;">"<strong><span style="background-color: yellow;">The truth is the current market is uncertain and globally is weak</span><span style="background-color: yellow;">.</span></strong> We are expecting next year to be different. What our government is trying to do is to prevent an uncontrollable situation where eventually if the market is to fall next year, then prices will fall," says Chow.</span></div>
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<span style="background-color: yellow; color: black;"><strong>Chow estimates prices may fall between 10 to 15 per cent in 2012.</strong></span></div>
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<span style="color: black;">"This might create a mortgage problem, property valuation and so on. Let us also not forget that globally, major institutions and companies are cutting jobs," says Chow</span></div>
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<span style="color: black; font-size: large;"><strong>Push to commercial market?</strong></span></div>
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<span style="color: black;">With the residential market now affected by the new ruling, will this mean investors will be drawn to other markets or even overseas?</span></div>
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<span style="color: black;">Analysts say there could be a possibility that both local and foreign investors may turn to the commercial sector.</span></div>
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<span style="color: black;">"Psychologically, some of them will be concerned. I am not surprised if some of these investors will turn to the commercial sector. As far as foreigners are concerned, it will take away the bite from </span><span style="color: black;">buying residential property</span><span style="color: black;">. The impact will be marginal be it from Singaporeans or foreigners. </span></div>
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<span style="color: black;">However, there will obviously be some, be it local or foreigners, who might want to look for commercial properties," says Ismail.</span></div>
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<span style="color: black;">As for foreigners who still want to buy residential properties, Ismail says they have to have a rather bullish approach in their investment.</span></div>
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<span style="color: black;">"The new cooling measures mean any foreigners who want to buy a property will incur an additional 10 per cent stamp duty and another 3 per cent stamp duty. Including the seller's stamp duty, it may go up 25 per cent to break even in the next four years. The foreigner has to be really bullish about the property market," says Ismail.</span></div>
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<span style="color: black; font-size: large;"><strong>Other property markets</strong></span></div>
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<span style="color: black;">They also say there is a probability that foreign investors may turn to other property markets.</span></div>
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<span style="color: black;">"With the additional 10 per cent stamp duty, <span style="background-color: yellow;">foreigners might now be tempted to look for alternative destinations in the region where price are more affordable</span>," says Chunduri.</span></div>
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<div style="text-align: justify;">
<span style="color: black;">"Malaysia will most likely become an alternative investment base for investors especially for the Chinese investors who are the largest foreign investors in Singapore," says Tharmalingam.</span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: black;">"Yes, definitely. It's all about return on investment (ROI). Generally, the perception on </span><span style="color: black;">Malaysian properties</span><span style="color: black;"> is quite positive. Most are of the opinion that Malaysian properties are still relatively cheap by comparison. It is less volatile compared to </span><span style="color: black;">Singapore properties</span><span style="color: black;">. There's potential for upward surge," says Adrian Un, director of Mortgage Broker Sdn Bhd.</span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: black;">Others say investors may move to other safe havens such as Hong Kong or London.</span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: black;">"Investors will choose safe havens such as Hong Kong and London as opposed to Malaysia or Thailand," says Tan</span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: black;">Others are more optimistic.</span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: black;">"Singapore is still the top choice among Chinese investors who are looking for long-term appreciation. The Chinese are coming to Singapore because prices in Hong Kong and China are too high. The pull factors of Singapore include our stable government and very conservative fiscal policies. After the initial reaction has died down, there will still be demand as there will be a period of hiatus as buyers try to make sense of the market. The new rules are meant to protect Singaporeans who are first timer or second home owners," says Francis Tan, unit head at Savills Residential. East Living Group.</span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: black;">As for Singapore's position as a global business address, analysts say it will not be impacted.</span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: black;">"As far as businesses are concerned, it will not have much impact. In Singapore, it is pretty much business as usual due to existing guidelines, relaxed policy on foreign direct investment, existing infrastructure, being an established financial hub, literacy rate and demographics. By comparison, our flip flop policies in the past have hindered FDI. Moving forward, it should get better," says Un.</span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: black;">"It will not impact businesses as Singapore is the Geneva of the East. This is an attempt by their government to cool the market in response to the last election where locals were concerned of overpriced real estate due to frequent buying of property by foreigner investors. However, there could be a possibility that the profile of Iskandar will be raised as an alternative," says Tharmalingam</span>.</div>
<br />
<br />
<h1 class="headline">
<span style="font-size: large;">Market watchers divided over new property curbs</span></h1>
<cite class="byline vcard">By <span class="fn">PropertyGuru</span> | <span class="provider org"><a href="http://sg.news.yahoo.com/blogs/property-blog/"><span style="color: #5d4370;">Property Blog</span></a></span> – <abbr title="2011-12-08T10:53:35Z">3 hours ago</abbr></cite><br />
<br />
<cite class="byline vcard"><abbr title="2011-12-08T10:53:35Z"></abbr></cite>By Khalil Adis (courtesy of PropertyGuru)Lynn Onghttp://www.blogger.com/profile/16307041152518732144noreply@blogger.com0tag:blogger.com,1999:blog-3023315550256422134.post-83680759972676714342011-12-08T05:49:00.001-08:002011-12-10T22:34:45.872-08:00Singapore Property Price Drop Likely After New Tax<span style="font-family: Times, "Times New Roman", serif; font-size: large;">Dear Readers,</span><br />
<span style="font-family: Times, "Times New Roman", serif;"><br /></span><br />
<span style="font-size: large;"><span style="font-family: Times, "Times New Roman", serif;">Various's reports on impact of </span><a href="http://lynnlovelyhomes.blogspot.com/2011/12/additional-buyers-stamp-duty-for-stable.html"><span style="font-family: Times, "Times New Roman", serif;">Additional Buyer's Stamp Duty (ABSD).</span></a></span><br />
<span style="font-family: Times, "Times New Roman", serif;"><br /></span><br />
<span style="font-family: Times, "Times New Roman", serif; font-size: large;">Important points highlighted in YELLOW.</span><br />
<span style="font-family: Times, "Times New Roman", serif;"><br /></span><br />
<span style="font-family: Times, "Times New Roman", serif; font-size: large;">Cheers!</span><br />
<strong><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Lynn ONG (王丽英)</span></strong><br />
<div style="text-align: justify;">
<span style="color: black;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Senior District Manager<br />ECG Property Novena District</span></span></div>
<div style="text-align: justify;">
<span style="color: black;"><span style="font-size: large;"><span style="font-family: Times, "Times New Roman", serif;">L3009759F / R014-395F<br />BSc. Real Estate (NUS)<br /><strong>Mobile: <span class="skype_pnh_print_container">(+65) 8479 3149</span><span class="skype_pnh_container" dir="ltr"><span style="color: #49535a;"><span class="skype_pnh_mark"> </span></span></span></strong></span></span></span></div>
<div style="text-align: justify;">
<strong><span class="skype_pnh_print_container"><span class="skype_pnh_container" dir="ltr"><span class="skype_pnh_mark"></span></span></span></strong><span style="color: black;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Email: </span></span><a href="mailto:lynn.lovelyhomes@gmail.com" target="_blank"><span style="color: black;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">lynn.lovelyhomes@gmail.com</span></span></a></div>
<div style="text-align: justify;">
<span style="color: black;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Website: </span></span><a href="http://www.lynnong.net/" rel="nofollow" target="_blank"><span style="color: black;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">http://www.LYNNONG.net/</span></span></a></div>
<div style="text-align: justify;">
<span style="color: black;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Blog: </span></span><a href="http://www.lynnlovelyhomes.blogspot.com/"><span style="color: black;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">http://www.lynnlovelyhomes.blogspot.com/</span></span></a><span style="color: black;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;"> <br />[Blogging on Analysis of Listings and Real Estate News]</span></span></div>
<br />
<br />
<span style="font-size: small;"><strong>Singapore property price drop likely after new tax</strong></span><br />
<div align="justify" class="clear" id="y-content" role="main">
<div class="col3">
<div class="mod content-wrapper">
<div id="y-article-hd">
<h2>
<span style="font-size: small;">Singapore property prices likely to drop after large new tax targets foreign investors </span></h2>
</div>
<div id="y-article-bd">
<div class="mod provider-attribution">
<span class="byline">Alex Kennedy, Associated Press</span>, <span class="datetime">On Thursday 8 December 2011, 17:24 SGT</span> </div>
SINGAPORE (AP) -- Singapore property prices, which have soared to record highs this year, will likely drop in the coming months after the government imposed a large new tax on property purchases by foreigners, analysts said Thursday.<br />
<br />
Foreigners and companies must pay an additional stamp duty of 10 percent of the value of residential property purchases, the government said in a statement. Permanent residents who buy a second property and citizens who buy three or more properties will pay an extra 3 percent. The measures take effect Thursday.<br />
<br />
Finance Minister Tharman Shanmugaratnam said <span style="background-color: yellow;">the government is seeking to cool demand now to avoid a major price crash in the future</span>.<br />
<br />
The new taxes are the first to discriminate on the basis of citizenship. Foreigners, who account for more than a quarter of the city-state's 5.2 million people, <span style="background-color: yellow;">made about 18 percent of property purchases in the third quarter and account for a third of purchases in the luxury market.</span><br />
<br />
In parliamentary elections in May, the ruling People's Action Party suffered its worst result since independence in 1965 amid growing gripes by voters that a surge in foreign workers during the last five years has helped keep wages stagnant while boosting housing prices.<br />
<br />
<span style="background-color: yellow;">Analysts said real estate prices could fall sharply, especially those of luxury condominiums and houses favored by foreigners.</span> About 80 percent of Singaporeans live in government-subsidized housing.<br />
<br />
<span style="background-color: yellow;">"This is severe and is likely to have a significant and negative impact on the residential property market," said Wendy Koh, an analyst with Citigroup in Singapore. "We expect a significant decline in volume in the short term and believe this is likely to be the catalyst for price cuts in the prime districts."</span><br />
<br />
Shares of the country's two biggest housing developers, CapitaLand Ltd. and City Developments Ltd., dived about 8 percent Thursday amid investor concern the new tax will undermine profits.<br />
<br />
Singapore property prices have risen for nine straight quarters. They are 13 percent above the previous peak in 1996 and 70 percent higher than in 2006.<br />
<br />
Singapore's low corporate and income tax rates, safe and clean streets and political stability have attracted foreign companies and workers -- and caused real estate costs to soar.<br />
<br />
Measures implemented during the last two years to ease demand -- such as raising the seller's stamp duty and boosting mandatory down payments for mortgages -- have succeeded in slowing the price surge. Prices rose 1.3 percent in the July-to-September period after rising 2 percent in the previous quarter.<br />
<br />
Singapore is anticipating its economic growth will slow next year as global demand for its exports wanes. Last month, the government forecast gross domestic product will grow as little as 1 percent in 2012 from 5 percent growth this year and a 15 percent expansion in 2010.<br />
<br />
"Due to the various cooling measures and the economic downturn, the risks for property market prices are tilted to the downside," said Wei Ho Leong, an analyst with Barclays Capital in Singapore. <span style="background-color: yellow;">"However, we don't think a crash is likely. We think a gradual downward correction is more probable."</span><br />
<br />
The government has pledged to increase the supply of public housing and land for private development. The government said it would sell land in the first half of next year that could yield 14,100 private homes to add to the 41,000 currently under construction.<br />
<br />
"Investment flows into our property market are now larger than before, and unlikely to recede as long as interest rates remain low," Tharman said. "The additional buyer's stamp duty should help cool investment demand."</div>
</div>
</div>
</div>Lynn Onghttp://www.blogger.com/profile/16307041152518732144noreply@blogger.com0tag:blogger.com,1999:blog-3023315550256422134.post-31814919267818776862011-12-07T05:34:00.000-08:002011-12-07T05:46:03.070-08:00Additional Buyer's Stamp Duty for a Stable and Sustainable Property Market<div style="text-align: justify;">
<span style="font-family: Times, "Times New Roman", serif; font-size: large;">Dear Readers,<br /><br />Hot NEWS!<br /><br />Additional Buyer's Stamp Duty to curb the
property market, specifically the private property
market.<br /><br /><strong><u>'Quick and Dirty' Snap Analysis of the Impact of this
Policy</u></strong><br />
</span></div>
<div style="text-align: justify;">
<span style="font-family: Times, "Times New Roman", serif; font-size: large;">First and foremost, the demand for private
property will definitely be affected with most foreign buyers out of the picture
unless 1) there are buyers who are able to fork out 10% of the property price in
cash and 2) if they assess that the pricing and rental yield of the property are
still undervalued even after paying a 10% ABSD. </span></div>
<div style="text-align: justify;">
<span style="font-family: Times, "Times New Roman", serif; font-size: large;"></span> </div>
<div style="text-align: justify;">
<span style="font-family: Times, "Times New Roman", serif; font-size: large;">
</span></div>
<div style="text-align: justify;">
<span style="font-family: Times, "Times New Roman", serif; font-size: large;">Singaporean and Singapore PR Property Investors
holding to multiple units will need to go through the same situation facing
foreign buyers, having additional 3% of the property price in cash or CPF and
also to assess if the pricing and rental yield of the property being attractive,
even with the 3% ABSD. </span></div>
<div style="text-align: justify;">
<span style="font-family: Times, "Times New Roman", serif;"></span> </div>
<div style="text-align: justify;">
<span style="font-family: Times, "Times New Roman", serif; font-size: large;">
</span></div>
<div style="text-align: justify;">
<span style="font-family: Times, "Times New Roman", serif; font-size: large;">Genuine sellers who wants to sell their house
urgently will lose part of the demand in the property market with the expected
exit of foreign buyers, property investors and also the expected oversupply that
is going to flood the market, coupled with the 41,000 unsold units in the market
(highlighted in <span style="background-color: yellow;">YELLOW</span> below).
</span></div>
<div style="text-align: justify;">
<span style="font-family: Times, "Times New Roman", serif; font-size: large;">
<br /><span style="color: red;"><strong>Overall impact
in the market</strong></span> => Decrease in Demand for Private Residential
Properties, leading to a stabilizing property market or a declining market. If
the market is in decline, then it would mean that property buyers who had bought
and <strong><span style="color: blue;">do not have the holding
power</span></strong>, will be forced to sell their properties below valuation,
contributing to a stablizing / declining market. If the market is expected to
fall as reported by the various property analysis reports (20-30% decline),
together with this measure, it would mean that buyers who do not have enough
equity or had refinanced their properties may need to have their properties
foreclosed by banks if they do not have enough money to top up the difference in
outstanding loan and property valuation. </span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="font-family: Times, "Times New Roman", serif; font-size: large;">
</span></div>
<div style="text-align: justify;">
<span style="font-size: large;"><span style="font-family: Times, "Times New Roman", serif;"><strong><span style="color: red;">Buyers who are
dependent on rental income to cover their mortgage</span></strong> would also be
faced with a potential financial problem as they may be required to top up their
mortgage payment in part or in full if the rent for their property is not
sufficient to pay for mortgage or, worst still, they are not able to get a
tenant, in view of the influx of supply flooding the market. </span></span></div>
<div style="text-align: justify;">
<span style="font-family: Times, "Times New Roman", serif;"></span> </div>
<div style="text-align: justify;">
<span style="font-family: Times, "Times New Roman", serif; font-size: large;">
</span></div>
<div style="text-align: justify;">
<strong><u><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Prayers...</span></u></strong></div>
<div style="text-align: justify;">
<span style="font-family: Times, "Times New Roman", serif; font-size: large;">
</span></div>
<div style="text-align: justify;">
<span style="font-family: Times, "Times New Roman", serif; font-size: large;">In the worst case scenario, interest rate
increase + decreasing demand for private properties + no tenant = fire sale of
properties leading to a property market crash.</span></div>
<div style="text-align: justify;">
<span style="font-family: Times, "Times New Roman", serif;"></span> </div>
<div style="text-align: justify;">
<span style="font-family: Times, "Times New Roman", serif; font-size: large;">
</span></div>
<div style="text-align: justify;">
<u><strong><span style="color: black;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">What's
can YOU do?</span></span></strong></u></div>
<div style="text-align: justify;">
<span style="font-family: Times, "Times New Roman", serif; font-size: large;">
</span></div>
<div style="text-align: justify;">
<span style="color: red;"><strong><span style="font-size: large;"><span style="font-family: Times, "Times New Roman", serif;"><span style="color: black;">If indeed you are concerned about your property portfolio
and the measures that the Government had implemented, <span style="color: red;">I
would sincerely advice you to engage a property consultant to share with him/her
on your property portfolio and financial management</span> so that you will be
able to <span style="color: red;">plan your NEXT move</span><span style="color: red;">.</span> I hope that no one will be caught in a potentially
erratic property cycle that we are heading towards. </span><span style="background-color: yellow; color: red;">(Economic Uncertainty, Interest
Rate Fluctuation, Oversupply, Decreasing Demand... Sounds Bad... But ALWAYS look
on the BRIGHT SIDE of LIFE. ACT NOW!)</span></span></span></strong></span></div>
<div style="text-align: justify;">
<span style="font-family: Times, "Times New Roman", serif;"></span> </div>
<div style="text-align: justify;">
<span style="font-family: Times, "Times New Roman", serif; font-size: large;">
</span></div>
<div style="text-align: justify;">
<span style="color: black;"><span><span style="font-family: Times, "Times New Roman", serif;"><span style="font-size: large;"><span style="font-family: Times, "Times New Roman", serif;">Lovely
Regards,<br /><strong>Lynn ONG (王丽英)</strong></span></span></span></span></span></div>
<div style="text-align: justify;">
<span style="color: black;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Senior
District Manager<br />ECG Property Novena District</span></span></span></div>
<div style="text-align: justify;">
<span style="color: black;"><span><span style="font-family: Times, "Times New Roman", serif;"><span style="font-size: large;"><span style="font-family: Times, "Times New Roman", serif;">L3009759F /
R014-395F<br />BSc. Real Estate (NUS)<br /><strong>Mobile: <span class="skype_pnh_print_container">(+65) 8479 3149</span><span class="skype_pnh_container" dir="ltr"><span style="color: #49535a;"><span class="skype_pnh_mark"> </span></span></span></strong></span></span></span></span></span></div>
<div style="text-align: justify;">
<strong><span class="skype_pnh_print_container"><span class="skype_pnh_container" dir="ltr"><span class="skype_pnh_mark"></span></span></span></strong><span style="color: black;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Email:
</span></span></span><a href="mailto:lynn.lovelyhomes@gmail.com" target="_blank"><span style="color: black;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">lynn.lovelyhomes@gmail.com</span></span></span></a></div>
<div style="text-align: justify;">
<span style="color: black;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Website:
</span></span></span><a href="http://www.lynnong.net/" rel="nofollow" target="_blank"><span style="color: black;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">http://www.LYNNONG.net/</span></span></span></a></div>
<div style="text-align: justify;">
<span style="color: black;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Blog:
</span></span></span><a href="http://www.lynnlovelyhomes.blogspot.com/"><span style="color: black;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">http://www.lynnlovelyhomes.blogspot.com/</span></span></span></a><span style="color: black;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">
<br />[Blogging on Analysis of Listings and Real Estate News]</span></span></span></div>
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<td><span class="hdr-main" id="dnn_ctr461_NewsPage_LabelTitle"><span><u><strong>Additional Buyer's Stamp Duty for a Stable
and Sustainable Property Market</strong></u></span></span></td></tr>
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<td><span class="date" id="dnn_ctr461_NewsPage_LabelDateTime"><span>07 Dec 2011 07:40 PM - </span><a href="http://app.mnd.gov.sg/Newsroom/NewsPage.aspx?ID=3202&category=Press%20Release&year=2011&RA1=&RA2=&RA3="><span><span style="color: #2288bb;">MND Website</span></span></a></span></td></tr>
<tr>
<td>
<div style="text-align: justify;">
<span><img id="dnn_ctr461_NewsPage_LongImage" src="http://app.mnd.gov.sg/Images4File/spacer.gif" style="border-width: 0px;" /></span></div>
</td></tr>
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<td>
<div style="text-align: justify;">
<span><span style="font-family: Arial;"><span style="font-family: Times, "Times New Roman", serif;">The
Government announced today an Additional Buyer’s Stamp Duty (ABSD)to be imposed
on certain categories of residential property purchases. The ABSD will be
imposed over and above the current Buyer’s Stamp Duty<b>,</b> and will apply to
the purchase price <span style="color: black;">or market value of the property
(whichever is higher) for the following purchases</span>:
</span></span></span></div>
<div style="text-align: justify;">
<br /><span><span style="font-family: Times, "Times New Roman", serif;"><span><span style="font-family: Arial;"><span style="font-family: Times, "Times New Roman", serif;">a)</span><span new="" roman?;?="" times=""> </span><span style="font-family: Times, "Times New Roman", serif;">Foreigners and
non-individuals</span></span></span><sup><span><a href="http://app.mnd.gov.sg/Newsroom/NewsPage.aspx?ID=3202&category=Press%20Release&year=2011&RA1=&RA2=&RA3=#_ftn1" name="_ftnref1" title=""><span style="line-height: 115%;"><span style="color: #2288bb; font-size: small;">[1]</span></span></a></span></sup><span><span style="font-family: Arial;"> </span></span>(corporate entities) buyi<span style="color: black;">ng any residential property will pay an ABSD of
10%;</span><span style="font-family: Arial;"> </span></span></span></div>
<div style="text-align: justify;">
<span><span style="font-family: Times, "Times New Roman", serif;"><span><span style="font-family: Arial;"><span style="font-family: Times, "Times New Roman", serif;">b)<span new="" roman?;?="" times=""> </span>Permanent Residents (PRs) owning
one</span></span></span><span style="font-family: Arial;"><sup><span><a href="http://app.mnd.gov.sg/Newsroom/NewsPage.aspx?ID=3202&category=Press%20Release&year=2011&RA1=&RA2=&RA3=#_ftn2" name="_ftnref2" title=""><span><span style="line-height: 115%;"><span style="font-family: Times, "Times New Roman", serif;"><span style="color: #2288bb; font-size: small;">[2]</span></span></span></span></a></span><span><span style="font-family: Times, "Times New Roman", serif;"><span style="font-size: small;">
</span></span></span></sup><span><span style="font-family: Times, "Times New Roman", serif;">and buying the second and
subsequent residential property will pay an ABSD of 3%; and</span>
</span></span></span></span></div>
<div style="text-align: justify;">
<span><span style="font-family: Arial;"><span style="font-family: Times, "Times New Roman", serif;">c)<span new="" roman?;?="" times=""> </span>Singapore Citizens (Singaporeans) owning
two<span style="font-size: small;"><span><sup>2</sup></span> and buying the third and subsequent residential
property will pay an ABSD of 3%. </span></span></span></span></div>
<div style="text-align: justify;">
<br /><span><span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: Times, "Times New Roman", serif;"><span><span style="font-family: Arial;"><span style="font-family: Times, "Times New Roman", serif;">The ABSD will take effect
on 8 Dec 2011</span></span></span><span><span style="font-family: Arial;"><a href="http://app.mnd.gov.sg/Newsroom/NewsPage.aspx?ID=3202&category=Press%20Release&year=2011&RA1=&RA2=&RA3=#_ftn3" name="_ftnref3" title=""><sup><span><span style="line-height: 115%;"><span style="color: #2288bb; font-size: small;">[3]</span></span></span></sup></a></span></span></span><span><span style="font-family: Arial;"><span style="font-family: Times, "Times New Roman", serif;">. Remission of ABSD will be
given for options granted on or before 7 Dec 2011 and <u>exercised within 3
weeks (i.e. on or before 28 Dec 2011) or the option validity period, whichever
is the earlier.</u></span> </span></span><span><span style="font-family: Arial;"></span></span><span><span style="font-family: Arial;"></span></span></span></span></div>
<div style="text-align: justify;">
<br /><span><span style="font-family: Times, "Times New Roman", serif;"><span new="" roman?;?="" times="">2) </span>The Government's objective is to promote a sustainable
residential property market where prices move in line with economic
fundamentals. Prices of private residential properties have continued to rise,
albeit more slowly in the last two quarters. Prices are now 13% above the peak
in 2Q1996 and 16% above the more recent peak in 2Q2008<span style="color: #00b050;">. </span></span></span></div>
<div style="text-align: justify;">
<br /><span><span style="font-family: Arial;"><span style="font-family: Times, "Times New Roman", serif;">3) Even
with the current economic uncertainties, the demand for private residential
property remains firm. Given the uncertainty in stock markets and with interest
rates remaining low, private property in Singapore continues to attract
investors, local and foreign. Excessive investment demand will however make the
property cycle more volatile, and thus increase the risks to our economy and
banking system. </span></span></span></div>
<div style="text-align: justify;">
<br /><span><span style="font-family: Times, "Times New Roman", serif;"><span><span style="font-family: Arial;"><span style="font-family: Times, "Times New Roman", serif;">4)
T</span></span></span><span><span style="font-family: Arial;"><span style="font-family: Times, "Times New Roman", serif;">he Government has therefore
decided to impose the ABSD to <span style="background-color: yellow;">moderate
investment demand for private residential</span></span><span style="background-color: yellow;"> </span><span style="font-family: Times, "Times New Roman", serif;"><span style="background-color: yellow;">property and promote a more stable and
sustainable market.</span> A higher ABSD rate for foreign buyers in particular
is necessary</span>, <span style="font-family: Times, "Times New Roman", serif;">in view of the large pool
of external liquidity and strong buying interest from abroad, and the relatively
small size of the Singapore market. Foreign purchases account for 19% of all
private residential property purchases in 2H2011, up from 7% in
1H2009</span>.</span></span></span></span></div>
<div style="text-align: justify;">
<br /><span><span style="font-family: Arial;"><span style="font-family: Times, "Times New Roman", serif;">5) The
ABSD will apply in addition to the existing Buyer’s Stamp Duty on property
purchases, which are applied at following rates: 1% on first $180,000 of
purchase consideration or market value of the property (whichever is higher), 2%
on the next $180,000 and 3% for the remainder. </span></span></span></div>
<div style="text-align: justify;">
<br /><span><span style="font-family: Arial;"><span><span style="font-family: Times, "Times New Roman", serif;"><span new="" roman?;?="" times="">6) </span>For purchases made jointly by two or more parties (e.g. a
Singaporean with a PR, or a PR with a foreigner),<span style="background-color: yellow;"> the higher applicable ABSD rate will be
imposed.</span> For example, if a citizen purchases a property with a foreigner,
the ABSD of 10% will apply. In the case of a joint purchase by Singaporeans, who
each already owns properties, the ABSD of 3% will apply as long as one of the
purchasers already owns two properties.</span></span></span></span></div>
<div style="text-align: justify;">
<br /><span><span style="font-family: Times, "Times New Roman", serif;"><span><span style="font-family: Arial;"><span style="font-family: Times, "Times New Roman", serif;">7) Singaporean first time
buyers and upgraders, and buyers of HDB flats</span></span></span><span><span style="font-family: Arial;"><a href="http://app.mnd.gov.sg/Newsroom/NewsPage.aspx?ID=3202&category=Press%20Release&year=2011&RA1=&RA2=&RA3=#_ftn4" name="_ftnref4" title=""><sup><span><span style="line-height: 115%;"><span style="font-family: Times, "Times New Roman", serif;"><span style="color: #2288bb; font-size: small;">[4]</span></span></span></span></sup></a><span style="font-family: Times, "Times New Roman", serif;"> will not be affected by
the new measure. Certain reliefs will be provided so that the measure will not
impact home occupation demand by residents. For example, relief will be provided
for Singaporean</span><span style="font-family: Times, "Times New Roman", serif;">-foreigner/PR
<b><u>married</u></b> couples buying their homes. Reliefs will also be provided
for qualifying developers and for purchases falling within the scope of
Singapore’s international trade agreements. More details will be provided on the
IRAS website</span>.</span></span></span></span></div>
<div style="text-align: justify;">
</div>
<div style="text-align: justify;">
<span><span style="font-family: Arial;"><span style="font-family: Times, "Times New Roman", serif;"></span></span></span></div>
<div style="text-align: justify;">
<u><span style="font-family: Times, "Times New Roman", serif;">Adequate
Supply of Private Housing to Meet Demand</span></u><span><span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: Arial;"> </span></span></span></div>
<span><span style="font-family: Times, "Times New Roman", serif;"><span><span style="font-family: Arial;"></span></span></span></span>
<div style="text-align: justify;">
<span><span style="font-family: Arial;"><span style="font-family: Times, "Times New Roman", serif;">8) The
Government will also continue to ensure an adequate supply of private housing to
meet medium term demand. <span style="background-color: yellow;">There are 41,000
unsold private housing units in the pipeline. The Government will inject sites
that can potentially yield a total of 14,100 units in the 1H2012 Government Land
Sales (GLS) Programme, similar to the supply in previous GLS programmes.</span>
Of these, about 7,000 units will be from sites on the Confirmed List. These
numbers take into account the ample pipeline supply and the dampening effect of
the ABSD. </span></span></span></div>
<div style="text-align: justify;">
<br /><span><span style="font-family: Arial;"><span style="font-family: Times, "Times New Roman", serif;">9) To
give more Singaporean households the chance to own or upgrade to private
housing, the Government raised the monthly income ceiling for the purchase of
new Executive Condominiums (ECs) from $10,000 to $12,000 in Aug 2011. We will
expand the EC supply in 2012 and are prepared to release sites that can
potentially yield 5,000 EC units for the entire year. Sites for 3,500 EC units
will be made available in 1H2012, including 3,000 EC units on the Confirmed
List. The Confirmed List quantum is comparable to the 3,000 EC units from 5
sites sold for the whole of 2011. More details will be provided in the press
release for the 1H2012 GLS Programme on MND’s website.
</span></span></span></div>
<div style="text-align: justify;">
<br /><span><span style="font-family: Arial;"><span><span style="font-family: Times, "Times New Roman", serif;">10) The Government will
continue to monitor the property market and adjust our property policies in step
with changes in the market and the economy. <span lang="EN-US">Mr Tharman
Shanmugaratnam, Deputy Prime Minister and Minister for Finance, said, “We have
always had open markets and must keep them that way. However, the reality is
that investment flows into our property market are now larger than before, and
unlikely to recede as long as interest rates remain low. The additional buyer’s
stamp duty should help cool investment demand, and avoid the prospect of a
major, destabilising correction further down the
road.”</span></span></span></span></span></div>
<div style="text-align: justify;">
<br /><span><span><span style="font-family: Arial;"><span style="font-family: Times, "Times New Roman", serif;">11) Khaw Boon Wan, Minister
for National Development, said, </span><span lang="EN-US"><span style="font-family: Times, "Times New Roman", serif;">“We are ramping up the
supply of new EC units through the Government Land Sales Programme. This will
help higher-income Singaporeans own private condominium units in an affordable
way, as the sale of new EC units is restricted to Singaporean households
only.”</span> </span></span></span><span en-gb;mso-no-proof:yes?="" lang="EN-US"><span style="mso-spacerun: yes;"></span></span></span></div>
<br /><span><span style="font-family: Arial;"><span style="font-family: Times, "Times New Roman", serif;">Issued
by the Ministry of Finance & Ministry of National
Development</span></span></span><br /><span><span style="font-family: Arial;"><span style="font-family: Times, "Times New Roman", serif;">7 Dec
2011</span></span></span><br /><span>
<hr />
</span>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<span></span></div>
<div style="margin: 0cm 0cm 0pt; text-align: justify;">
<u><b><span>ANNEX 1</span></b></u><span style="font-family: Arial;"><br /></span></div>
<b><u><span>Existing and Additional BSD Rates</span></u></b><br />
<table border="1" cellpadding="0" cellspacing="0" style="border-collapse: collapse; margin-left: 5.4pt;">
<tbody>
<tr>
<td rowspan="2" style="border: 1pt solid windowtext; padding: 0cm 5.4pt; width: 149.5pt;" width="199">
<div style="text-align: center;">
<span><span style="font-family: Arial;"><b>Transaction</b></span></span></div>
</td>
<td style="border-color: currentColor; border-style: solid solid solid none; border-width: 1pt 1pt 1pt medium; padding: 0cm 5.4pt; width: 105.65pt;" valign="top" width="141">
<div style="text-align: center;">
<b><span>On and
before 7 Dec 2011</span></b></div>
</td>
<td colspan="2" style="border-color: currentColor; border-style: solid solid solid none; border-width: 1pt 1pt 1pt medium; padding: 0cm 5.4pt; width: 201.55pt;" valign="top" width="269">
<div style="text-align: center;">
<span><b>On or after
8 Dec 2011</b><span style="font-family: Arial;"></span></span></div>
</td></tr>
<tr>
<td style="border-color: currentColor; border-style: none solid solid none; border-width: medium 1pt 1pt medium; padding: 0cm 5.4pt; width: 105.65pt;" valign="top" width="141">
<div style="text-align: center;">
<b><span>Existing BSD
rates on the total purchase price or market value (whichever is
higher)</span></b></div>
</td>
<td style="border-color: currentColor; border-style: none solid solid none; border-width: medium 1pt 1pt medium; padding: 0cm 5.4pt; width: 99.25pt;" valign="top" width="132">
<div style="text-align: center;">
<span><b>Existing BSD
rates on the total purchase price or market value (whichever is higher)</b><span style="font-family: Arial;"></span></span></div>
</td>
<td style="border-color: currentColor; border-style: none solid solid none; border-width: medium 1pt 1pt medium; padding: 0cm 5.4pt; width: 102.3pt;" valign="top" width="136">
<div style="text-align: center;">
<span><b>Additional
BSD rates on the total purchase price or market value (whichever is
higher)</b><span style="font-family: Arial;"></span><span style="font-family: Arial;"></span></span></div>
</td></tr>
<tr style="height: 46pt;">
<td style="border-color: currentColor; border-style: none solid solid; border-width: medium 1pt 1pt; height: 46pt; padding: 0cm 5.4pt; width: 149.5pt;" valign="top" width="199"><span><span style="font-family: Arial;"><span style="font-family: Times, "Times New Roman", serif;">Foreigners
and non-individuals (corporate entities) buying any residential
property</span></span></span><span><span style="font-family: Arial;"><br /></span></span></td>
<td rowspan="3" style="border-color: currentColor; border-style: none solid solid none; border-width: medium 1pt 1pt medium; height: 46pt; padding: 0cm 5.4pt; width: 105.65pt;" valign="top" width="141"><span><span style="font-family: Arial;"><span style="font-family: Times, "Times New Roman", serif;">1% on
first $180,000 </span></span></span><br /><span><span style="font-family: Arial;"><span style="font-family: Times, "Times New Roman", serif;">2% on
next $180,000 </span></span></span><br /><span><span style="font-family: Arial;"><span style="font-family: Times, "Times New Roman", serif;">3% for
the remainder</span></span></span></td>
<td rowspan="3" style="border-color: currentColor; border-style: none solid solid none; border-width: medium 1pt 1pt medium; height: 46pt; padding: 0cm 5.4pt; width: 99.25pt;" valign="top" width="132"><span><span style="font-family: Arial;"><span style="font-family: Times, "Times New Roman", serif;">1% on
first $180,000 </span></span></span><br /><span><span style="font-family: Arial;"><span style="font-family: Times, "Times New Roman", serif;">2% on
next $180,000 </span></span></span><br /><span><span style="font-family: Arial;"><span style="font-family: Times, "Times New Roman", serif;">3% for
the remainder</span></span></span></td>
<td style="border-color: currentColor; border-style: none solid solid none; border-width: medium 1pt 1pt medium; height: 46pt; padding: 0cm 5.4pt; width: 102.3pt;" valign="top" width="136"><span><span style="font-family: Arial;"><span style="font-family: Times, "Times New Roman", serif;">+10%</span></span></span></td></tr>
<tr style="height: 48.6pt;">
<td style="border-color: currentColor; border-style: none solid solid; border-width: medium 1pt 1pt; height: 48.6pt; padding: 0cm 5.4pt; width: 149.5pt;" valign="top" width="199"><span><span style="font-family: Arial;"><span style="font-family: Times, "Times New Roman", serif;">PRs
owning one and buying the <u>second and subsequent</u> residential
property</span></span></span><span><span style="font-family: Arial;"><br /></span></span></td>
<td style="border-color: currentColor; border-style: none solid solid none; border-width: medium 1pt 1pt medium; height: 48.6pt; padding: 0cm 5.4pt; width: 102.3pt;" valign="top" width="136"><span><span style="font-family: Arial;"><span style="font-family: Times, "Times New Roman", serif;">+3%</span></span></span></td></tr>
<tr style="height: 56.65pt;">
<td style="border-color: currentColor; border-style: none solid solid; border-width: medium 1pt 1pt; height: 56.65pt; padding: 0cm 5.4pt; width: 149.5pt;" valign="top" width="199"><span><span style="font-family: Arial;"><span style="font-family: Times, "Times New Roman", serif;">SCs
owning two and buying the <u>third and subsequent</u> residential
property</span></span></span><span><span style="font-family: Arial;"><br /></span></span></td>
<td style="border-color: currentColor; border-style: none solid solid none; border-width: medium 1pt 1pt medium; height: 56.65pt; padding: 0cm 5.4pt; width: 102.3pt;" valign="top" width="136"><span><span style="font-family: Arial;"><span style="font-family: Times, "Times New Roman", serif;">+3%</span></span></span></td></tr>
<tr>
<td style="border-color: currentColor; border-style: none solid solid; border-width: medium 1pt 1pt; padding: 0cm 5.4pt; width: 149.5pt;" valign="top" width="199"><span><span style="font-family: Arial;"><span style="font-family: Times, "Times New Roman", serif;">PRs
buying the first residential property</span></span></span><span><span style="font-family: Arial;"><br /></span></span></td>
<td rowspan="2" style="border-color: currentColor; border-style: none solid solid none; border-width: medium 1pt 1pt medium; padding: 0cm 5.4pt; width: 105.65pt;" valign="top" width="141"><span><span style="font-family: Arial;"><span style="font-family: Times, "Times New Roman", serif;">1% on
first $180,000 </span></span></span><br /><span><span style="font-family: Arial;"><span style="font-family: Times, "Times New Roman", serif;">2% on
next $180,000 </span></span></span><br /><span><span style="font-family: Arial;"><span style="font-family: Times, "Times New Roman", serif;">3% for
the remainder</span></span></span><br /><span><span style="font-family: Arial;"><span style="font-family: Times, "Times New Roman", serif;"></span></span></span></td>
<td rowspan="2" style="border-color: currentColor; border-style: none solid solid none; border-width: medium 1pt 1pt medium; padding: 0cm 5.4pt; width: 99.25pt;" valign="top" width="132"><span><span style="font-family: Arial;"><span style="font-family: Times, "Times New Roman", serif;">No
Change</span></span></span></td>
<td rowspan="2" style="border-color: currentColor; border-style: none solid solid none; border-width: medium 1pt 1pt medium; padding: 0cm 5.4pt; width: 102.3pt;" valign="top" width="136"><span><span style="font-family: Arial;"><span style="font-family: Times, "Times New Roman", serif;">NIL</span></span></span><span><span style="font-family: Arial;"><br /></span></span></td></tr>
<tr>
<td style="border-color: currentColor; border-style: none solid solid; border-width: medium 1pt 1pt; padding: 0cm 5.4pt; width: 149.5pt;" valign="top" width="199"><span><span style="font-family: Arial;"><span style="font-family: Times, "Times New Roman", serif;">SCs
buying the first and/ or second residential
property</span></span></span><span><span style="font-family: Arial;"><br /></span></span></td></tr>
</tbody></table>
<span></span><br /><span><b>Examples of Additional and Total Buyer’s Stamp
Duty Payable</b> </span><br /><b><span>Assume property
purchase of $1 million</span></b><br /><span><span style="font-family: Arial;"><span></span></span></span><br />
<table border="1" cellpadding="0" cellspacing="0" style="border-collapse: collapse;">
<tbody>
<tr>
<td style="border: 1pt solid windowtext; padding: 0cm 5.4pt; width: 92.3pt;" valign="top" width="123"><span><span style="font-family: Arial;"><b><span></span></b></span></span></td>
<td style="border-color: currentColor; border-style: solid solid solid none; border-width: 1pt 1pt 1pt medium; padding: 0cm 5.4pt; width: 92.3pt;" valign="top" width="123"><span style="font-family: Times, "Times New Roman", serif;"><strong>SCs
buying first</strong> <strong>and/or second residential
properties</strong></span><br /><span><span style="font-family: Times, "Times New Roman", serif;"><strong><span style="font-family: Arial;"></span><span style="font-family: Arial;"></span></strong></span></span><br /><span><span style="font-family: Times, "Times New Roman", serif;"><strong>PRs buying first
residential property<span style="font-family: Arial;"></span></strong></span></span></td>
<td style="border-color: currentColor; border-style: solid solid solid none; border-width: 1pt 1pt 1pt medium; padding: 0cm 5.4pt; width: 92.3pt;" valign="top" width="123"><span><span style="font-family: Arial;"><span style="font-family: Times, "Times New Roman", serif;"><strong>Foreigners
and non-individuals</strong></span></span></span></td>
<td style="border-color: currentColor; border-style: solid solid solid none; border-width: 1pt 1pt 1pt medium; padding: 0cm 5.4pt; width: 92.35pt;" valign="top" width="123"><span><span style="font-family: Arial;"><span style="font-family: Times, "Times New Roman", serif;"><strong>PRs
owning one and buying the second and subsequent residential
property</strong></span></span></span></td>
<td style="border-color: currentColor; border-style: solid solid solid none; border-width: 1pt 1pt 1pt medium; padding: 0cm 5.4pt; width: 92.85pt;" valign="top" width="124"><span><span style="font-family: Arial;"><span style="font-family: Times, "Times New Roman", serif;"><strong>SCs
owning two and buying the third and subsequent residential
property</strong></span></span></span></td></tr>
<tr>
<td style="border-color: currentColor; border-style: none solid solid; border-width: medium 1pt 1pt; padding: 0cm 5.4pt; width: 92.3pt;" valign="top" width="123"><span><span style="font-family: Times, "Times New Roman", serif;">Existing buyer’s stamp duty
<span style="font-family: Arial;"></span></span></span><br /><span><span style="font-family: Arial;"></span></span></td>
<td style="border-color: currentColor; border-style: none solid solid none; border-width: medium 1pt 1pt medium; padding: 0cm 5.4pt; width: 92.3pt;" valign="top" width="123"><span><span style="font-family: Arial;"><span style="font-family: Times, "Times New Roman", serif;">$24,600</span></span></span></td>
<td style="border-color: currentColor; border-style: none solid solid none; border-width: medium 1pt 1pt medium; padding: 0cm 5.4pt; width: 92.3pt;" valign="top" width="123"><span><span style="font-family: Arial;"><span style="font-family: Times, "Times New Roman", serif;">$24,600</span></span></span></td>
<td style="border-color: currentColor; border-style: none solid solid none; border-width: medium 1pt 1pt medium; padding: 0cm 5.4pt; width: 92.35pt;" valign="top" width="123"><span><span style="font-family: Arial;"><span style="font-family: Times, "Times New Roman", serif;">$24,600</span></span></span></td>
<td style="border-color: currentColor; border-style: none solid solid none; border-width: medium 1pt 1pt medium; padding: 0cm 5.4pt; width: 92.85pt;" valign="top" width="124"><span><span style="font-family: Arial;"><span style="font-family: Times, "Times New Roman", serif;">$24,600</span></span></span></td></tr>
<tr>
<td style="border-color: currentColor; border-style: none solid solid; border-width: medium 1pt 1pt; padding: 0cm 5.4pt; width: 92.3pt;" valign="top" width="123"><span><span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: Arial;"><span style="font-family: Times, "Times New Roman", serif;">Additional buyer's stamp
duty</span></span></span></span></td>
<td style="border-color: currentColor; border-style: none solid solid none; border-width: medium 1pt 1pt medium; padding: 0cm 5.4pt; width: 92.3pt;" valign="top" width="123"><span style="font-family: Times, "Times New Roman", serif;">NIL</span><br /><span><span style="font-family: Arial;"><span style="font-family: Times, "Times New Roman", serif;"></span></span></span><span><span style="font-family: Arial;"></span></span></td>
<td style="border-color: currentColor; border-style: none solid solid none; border-width: medium 1pt 1pt medium; padding: 0cm 5.4pt; width: 92.3pt;" valign="top" width="123"><span><span style="font-family: Arial;"><span style="font-family: Times, "Times New Roman", serif;">$100,000</span></span></span></td>
<td style="border-color: currentColor; border-style: none solid solid none; border-width: medium 1pt 1pt medium; padding: 0cm 5.4pt; width: 92.35pt;" valign="top" width="123"><span><span style="font-family: Arial;"><span style="font-family: Times, "Times New Roman", serif;">$30,000</span></span></span></td>
<td style="border-color: currentColor; border-style: none solid solid none; border-width: medium 1pt 1pt medium; padding: 0cm 5.4pt; width: 92.85pt;" valign="top" width="124"><span><span style="font-family: Arial;"><span style="font-family: Times, "Times New Roman", serif;">$30,000</span></span></span></td></tr>
<tr>
<td style="border-color: currentColor; border-style: none solid solid; border-width: medium 1pt 1pt; padding: 0cm 5.4pt; width: 92.3pt;" valign="top" width="123"><span><span style="font-family: Times, "Times New Roman", serif;">Total stamp duty on $1
million purchase of residential property<span style="font-family: Arial;"></span><span style="font-family: Arial;"></span></span></span></td>
<td style="border-color: currentColor; border-style: none solid solid none; border-width: medium 1pt 1pt medium; padding: 0cm 5.4pt; width: 92.3pt;" valign="top" width="123"><span style="font-family: Times, "Times New Roman", serif;">$24,600</span><br /><span><span style="font-family: Arial;"><span style="font-family: Times, "Times New Roman", serif;"></span></span></span><span><span style="font-family: Arial;"></span></span></td>
<td style="border-color: currentColor; border-style: none solid solid none; border-width: medium 1pt 1pt medium; padding: 0cm 5.4pt; width: 92.3pt;" valign="top" width="123"><span style="font-family: Times, "Times New Roman", serif;">$124,600</span><br /><span><span style="font-family: Arial;"></span></span></td>
<td style="border-color: currentColor; border-style: none solid solid none; border-width: medium 1pt 1pt medium; padding: 0cm 5.4pt; width: 92.35pt;" valign="top" width="123"><span><span style="font-family: Times, "Times New Roman", serif;">$54,600<span style="font-family: Arial;"></span></span></span><br /><span><span style="font-family: Arial;"></span></span></td>
<td style="border-color: currentColor; border-style: none solid solid none; border-width: medium 1pt 1pt medium; padding: 0cm 5.4pt; width: 92.85pt;" valign="top" width="124"><span><span style="font-family: Times, "Times New Roman", serif;">$54,600<span style="font-family: Arial;"></span></span></span><br /><span><span style="font-family: Arial;"></span></span></td></tr>
</tbody></table>
<span><span style="font-family: Arial;"><b><span></span></b></span></span><br />
<div align="justify">
<span>
<hr align="left" size="1" width="33%" />
</span>
<div id="ftn1">
<span><span style="font-family: Arial;"><a href="http://app.mnd.gov.sg/Newsroom/NewsPage.aspx?ID=3202&category=Press%20Release&year=2011&RA1=&RA2=&RA3=#_ftnref1" name="_ftn1" title=""><span style="line-height: 115%;"><span style="font-family: Times, "Times New Roman", serif;"><span style="color: #2288bb;">[1]</span></span></span></a><span><span style="font-family: Times, "Times New Roman", serif;">This includes corporate,
trusts and collective investment schemes amongst others</span>.
</span></span></span></div>
<div id="ftn2">
<span><span style="font-family: Arial;"><a href="http://app.mnd.gov.sg/Newsroom/NewsPage.aspx?ID=3202&category=Press%20Release&year=2011&RA1=&RA2=&RA3=#_ftnref2" name="_ftn2" title=""><span style="line-height: 115%;"><span style="font-family: Times, "Times New Roman", serif;"><span style="color: #2288bb;">[2]</span></span></span></a><span><span style="font-family: Times, "Times New Roman", serif;"> A person is regarded as
owning a property for the purpose of ABSD as long as he owns part of that
property. Overseas properties will be excluded from the count of properties
owned.</span> </span></span></span></div>
<div id="ftn3">
<span><span style="font-family: Arial;"><a href="http://app.mnd.gov.sg/Newsroom/NewsPage.aspx?ID=3202&category=Press%20Release&year=2011&RA1=&RA2=&RA3=#_ftnref3" name="_ftn3" title=""><span style="letter-spacing: -0.1pt; line-height: 115%;"><span style="font-family: Times, "Times New Roman", serif;"><span style="color: #2288bb;">[3]</span></span></span></a></span></span><span><span><span style="font-family: Arial;"><span style="font-family: Times, "Times New Roman", serif;"> The measure will apply to
a property purchase if <span style="color: black;">the option for purchase is
exercised or the agreement for transfer is executed, whichever is earlier, on or
after 8 Dec 2011. </span>Where no option for purchase is granted and only an
agreement for transfer is executed, then the measure will apply to the agreement
for transfer if it is executed on or after 8 Dec
2011.</span></span></span><span><span style="font-family: Arial;">
</span></span></span></div>
<div id="ftn4">
<span><span style="font-family: Arial;"><a href="http://app.mnd.gov.sg/Newsroom/NewsPage.aspx?ID=3202&category=Press%20Release&year=2011&RA1=&RA2=&RA3=#_ftnref4" name="_ftn4" title=""><span style="letter-spacing: -0.1pt; line-height: 115%;"><span style="font-family: Times, "Times New Roman", serif;"><span style="color: #2288bb;">[4]</span></span></span></a></span></span><span><span style="font-family: Arial;"><span style="font-family: Times, "Times New Roman", serif;"> The
purchase of HDB properties will not be affected by this measure. Only
Singaporeans and Permanent Residents are eligible to be HDB flat lessees (i.e.
own a flat). Existing residential property owners who buy an HDB flat or a new
unit under the Design, Build and Sell Scheme (DBSS) or the Executive Condominium
(EC) Housing Scheme will not be subject to the ABSD, since the existing
flat/property will have to be disposed of as part of the conditions for the
purchase of the HDB/DBSS flat or EC unit.</span></span></span></div>
</div>
</td></tr>
</tbody></table>Lynn Onghttp://www.blogger.com/profile/16307041152518732144noreply@blogger.com0tag:blogger.com,1999:blog-3023315550256422134.post-90056055680725361352011-12-03T06:03:00.000-08:002011-12-03T06:04:11.764-08:0021 HDB blocks in Redhill Close chosen for SERS<div style="text-align: justify;"></div><div style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Dear Readers,</span></div><div style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif;"><br />
</span></div><div style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Fresh from the Oven.</span></div><div style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif;"><br />
</span></div><div style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Happy Reading. </span></div><div style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif;"><br />
</span></div><div style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Will dedicate a post specifically on what SERS is, the motivation of SERS and what it means for HDB owners. </span></div><div style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif;"><br />
</span></div><div style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Till then.</span></div><div style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif;"><br />
</span></div><div style="text-align: justify;"><span style="color: black;"><span style="font-size: large;"><span style="font-family: Times, "Times New Roman", serif;">Lovely Regards,<br />
<strong>Lynn ONG (王丽英)</strong></span></span></span></div><div style="text-align: justify;"><span style="color: black;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Senior District Manager<br />
ECG Property Novena District</span></span></div><div style="text-align: justify;"><span style="color: black;"><span style="font-size: large;"><span style="font-family: Times, "Times New Roman", serif;">L3009759F / R014-395F<br />
BSc. Real Estate (NUS)<br />
<strong>Mobile: (+65) 8479 3149</strong></span></span></span></div><div style="text-align: justify;"><strong><span class="skype_pnh_print_container"><span class="skype_pnh_container" dir="ltr"><span class="skype_pnh_mark"></span></span></span></strong><span style="color: black;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Email: </span></span><a href="mailto:lynn.lovelyhomes@gmail.com" target="_blank"><span style="color: black;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">lynn.lovelyhomes@gmail.com</span></span></a></div><div style="text-align: justify;"><span style="color: black;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Website: </span></span><a href="http://www.lynnong.net/" rel="nofollow" target="_blank"><span style="color: black;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">http://www.LYNNONG.net/</span></span></a></div><div style="text-align: justify;"><span style="color: black;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Blog: </span></span><a href="http://www.lynnlovelyhomes.blogspot.com/"><span style="color: black;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">http://www.lynnlovelyhomes.blogspot.com/</span></span></a><span style="color: black;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;"> <br />
[Blogging on Analysis of Listings and Real Estate News]</span></span></div><div style="text-align: justify;"><span style="font-family: Times, 'Times New Roman', serif;"></span><br />
</div><div style="text-align: justify;"><span style="font-size: x-small;"><span style="color: #999999;"><span style="font-family: Arial, Helvetica, sans-serif;"><span class="author" nodeindex="1" sizcache="30"><cite nodeindex="1"><span style="color: black; font-family: Times New Roman; font-size: small;">________________________________________________</span></cite></span></span></span></span></div><div style="text-align: justify;"><span style="font-size: x-small;"><span style="color: #999999;"><span style="font-family: Arial, Helvetica, sans-serif;"><span class="author" nodeindex="1" sizcache="30"><cite nodeindex="1">By Channel NewsAsia, </cite></span><span class="date" nodeindex="2">Updated: 03/12/2011</span></span></span></span></div><h1 class="withPartnerLogo" nodeindex="3" style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif; font-size: large;">21 HDB blocks in Redhill Close chosen for SERS</span></h1><div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">SINGAPORE: Twenty—one blocks of HDB flats in Redhill Close have been chosen for the government’s Selective En bloc Redevelopment Scheme (SERS). </span><span style="font-family: Arial, Helvetica, sans-serif;">They are blocks 1 to 3 and blocks 5 to 22, with a total of 878 units.</span></div><div style="text-align: justify;"><br />
</div><div nodeindex="4" style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">The Housing and Development Board (HDB) will build about 1,200 units of two—room, three—room, four—room and five—room flats in Henderson Road to re—house the flat owners.</span></div><div nodeindex="4" style="text-align: justify;"><br />
</div><div nodeindex="5" style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">The new blocks, to be ready in 2017, will be built up to 48—storeys high, offering panoramic views of the city skyline.</span></div><div nodeindex="5" style="text-align: justify;"><br />
</div><div nodeindex="6" style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">The current flats, built in 1955, will be more than 60 years old by the time the residents move out.</span></div><div nodeindex="6" style="text-align: justify;"><br />
</div><div nodeindex="7" style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">The HDB said the replacement flats are at a prime location, within walking distance from Redhill and Tiong Bahru MRT stations. Facilities such as shops, markets and food centres are just a stone’s throw away.</span></div><div nodeindex="7" style="text-align: justify;"><br />
</div><div nodeindex="8" style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">Many recreational facilities and spaces such as children’s playgrounds and fitness corners for adults and the elderly, a hard court and community garden, as well as a multi—storey car park will be provided. The HDB said these facilities will provide ample opportunities for social interaction.</span></div><div nodeindex="8" style="text-align: justify;"><br />
</div><div nodeindex="9" style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">Eligible flat owners will be invited to register for the new replacement flats in the fourth quarter of 2012. </span><span style="font-family: Arial, Helvetica, sans-serif;">The HDB will hold an exhibition from December 7 to 13 at Bukit Merah Community Centre to provide more information on the development.</span></div><div nodeindex="9" style="text-align: justify;"><br />
</div><div nodeindex="11" style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">The site is the 76th site to to benefit from SERS, which offers residents the opportunity to move to a brand new flat nearby with a fresh 99—year lease, better design and modern facilities.</span></div><div nodeindex="12" style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">—CNA/ac</span></div><div style="text-align: justify;"><span style="font-size: x-small;"><span style="color: #999999;"><span style="font-family: Arial, Helvetica, sans-serif;"><span class="author" nodeindex="1" sizcache="30"><cite nodeindex="1"><span style="color: black; font-family: Times New Roman; font-size: small;">________________________________________________</span></cite></span></span></span></span></div>Lynn Onghttp://www.blogger.com/profile/16307041152518732144noreply@blogger.com0tag:blogger.com,1999:blog-3023315550256422134.post-81854422190721685702011-12-03T05:26:00.000-08:002011-12-03T05:39:39.471-08:00Singapore Home Prices Poised to Plunge<div class="dateStamp first" style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Dear Reader, </span></div><div class="dateStamp first" style="text-align: justify;"><br />
</div><div class="dateStamp first" style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Another piece of news from Wall Street Journal. </span></div><div class="dateStamp first" style="text-align: justify;"><br />
<span style="font-size: large;"><span style="color: blue;"><u>Summary - For those too busy to read the whole article</u></span></span></div><div class="dateStamp first" style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Daiwa's Capital Market Analyst, Mr David Lum predicting a 22% to 26% decrease in housing price by end of 2014. </span><br />
<br />
<em><span style="color: blue; font-family: Times; font-size: large;"><strong>Reasons: </strong></span></em><br />
<em><span style="font-family: Times; font-size: large;">1) Singapore's GDP Growth expected to slow and stay low. </span></em><br />
<em><span style="font-family: Times; font-size: large;">2) Immigration policy tightens to slow down population growth</span></em><br />
<em><span style="font-family: Times; font-size: large;">3) Huge Supply flowing into market, coupled with large number of unsold units from launched projects</span></em><br />
<em><span style="font-family: Times; font-size: large;">4) Rental and Capital Markets expected to be affected</span></em><br />
<br />
<em><span style="font-family: Times; font-size: large;"></span></em></div><div class="dateStamp first" style="text-align: justify;"></div><div class="dateStamp first" style="text-align: justify;"><span style="color: blue; font-family: Times, "Times New Roman", serif; font-size: large;"><strong><em>Additional Pointers from Me to Home Owners / Investors:</em></strong></span><br />
<span style="font-family: Times; font-size: large;">1) Assess your own financial situation to see if you have the holding power to tide through the property cycle. (With expected falling rent and possibly an increasing interest rate on your mortgage.)</span><br />
<br />
<span style="font-family: Times; font-size: large;">2) If not, price the unit reasonably for sale to cash out of the property market first. There are still buyers looking for a reasonable transaction and they have different motivation from investors, allowing them to consider buying at such a market.</span><br />
<br />
<span style="font-family: Times, "Times New Roman", serif; font-size: large;">Enjoy reading.</span></div><div class="dateStamp first" style="text-align: justify;"><br />
</div><div style="text-align: justify;"><span style="color: black;"><span style="font-family: Times, 'Times New Roman', serif;"><span style="font-size: large;"><span style="font-family: Times, "Times New Roman", serif;">Lovely Regards,<br />
<strong>Lynn ONG (王丽英)</strong></span></span></span></span></div><div style="text-align: justify;"><span style="color: black;"><span style="font-family: Times, 'Times New Roman', serif;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Senior District Manager<br />
ECG Property Novena District</span></span></span></div><div style="text-align: justify;"><span style="color: black;"><span style="font-family: Times, 'Times New Roman', serif;"><span style="font-size: large;"><span style="font-family: Times, "Times New Roman", serif;">L3009759F / R014-395F<br />
BSc. Real Estate (NUS)<br />
<strong>Mobile: (+65) 8479 3149</strong></span></span></span></span></div><div style="text-align: justify;"><strong><span class="skype_pnh_print_container"><span class="skype_pnh_container" dir="ltr"><span class="skype_pnh_mark"></span></span></span></strong><span style="color: black;"><span style="font-family: Times, 'Times New Roman', serif;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Email: </span></span></span><a href="mailto:lynn.lovelyhomes@gmail.com" target="_blank"><span style="color: black;"><span style="font-family: Times, 'Times New Roman', serif;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">lynn.lovelyhomes@gmail.com</span></span></span></a></div><div style="text-align: justify;"><span style="color: black;"><span style="font-family: Times, 'Times New Roman', serif;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Website: </span></span></span><a href="http://www.lynnong.net/" rel="nofollow" target="_blank"><span style="color: black;"><span style="font-family: Times, 'Times New Roman', serif;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">http://www.LYNNONG.net/</span></span></span></a></div><div style="text-align: justify;"><span style="color: black;"><span style="font-family: Times, 'Times New Roman', serif;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Blog: </span></span></span><a href="http://www.lynnlovelyhomes.blogspot.com/"><span style="color: black;"><span style="font-family: Times, 'Times New Roman', serif;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">http://www.lynnlovelyhomes.blogspot.com/</span></span></span></a><span style="font-size: large;"><span style="font-family: Times, "Times New Roman", serif;"><span style="color: black;"><span style="font-family: Times, 'Times New Roman', serif;"> <br />
[Blogging on Analysis of Listings and Real Estate News]</span></span></span></span><span style="font-family: Times, 'Times New Roman', serif;"></span><br />
<div class="dateStamp first"><br />
</div><div class="dateStamp first"><br />
</div><div class="dateStamp first"><br />
</div><div class="dateStamp first"><small><span style="color: #666666; font-size: small;">__________________________________________________</span></small></div><div class="dateStamp first"><small><strong><em><span style="color: black; font-size: small;">The Wall Street Journal - Southeast Asia</span></em></strong></small></div><div class="dateStamp first"><br />
</div><div class="dateStamp first"><small><span style="color: #666666; font-size: small;">November 28, 2011, 4:12 PM SGT</span></small></div><h1><span style="font-size: large;">Singapore Home Prices May Be Poised to Plunge</span></h1><div style="text-align: justify;">If you’ve been waiting for a chance to purchase a property in Singapore, maybe you should wait some more. </div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">The city-state’s red-hot residential real estate market could be poised to plummet 20% to 30% over the next three years – at least according to some analysts, who say demand is dampening just as a flood of new flats is hitting the market.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">“We now expect a multi-year downturn in the residential market, with overall private home prices falling by 22% to 26%,” by the end of 2014 said David Lum, an analyst for Daiwa Capital Markets, in a recent report. <span style="background-color: yellow;">Analysts predicting a drastic drop in Singapore property prices are still in the minority. </span>Yet a growing number of analysts are at least somewhat concerned that the conditions driving Singapore property prices and rents higher in recent years – notably brisk demand and tight supply – are <span style="background-color: yellow;">about to be reversed</span>.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">The country’s gross domestic product growth is expected to slow this year and stay low. Meanwhile, recent government restrictions on migration are expected to crimp the population growth, which was also underpinning demand for homes.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">“In 2005 to 2010, Singapore’s population grew by 21%, or 3.3% (per year). This is over three times faster than the 1% per year recorded in the previous four years,” said Standard Chartered Bank in a report last week. “Due to the high population growth and the low home completions, residential rents and prices have climbed 75% since 2005.”</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">As political pressure from concerned citizens has forced Singapore to make it tougher for foreigners to work in Southeast Asia’s financial capital, population growth will slow to less than 2% per year and residential property prices and rents could fall as much as 30% over the next three years, the report said. <span style="background-color: yellow;">[Reported before on Straits Times Article on 27th November 2011 - Will Singapore Property Market Soften - To Read, </span><a href="http://lynnlovelyhomes.blogspot.com/2011/12/will-singapore-property-market-soften.html"><span style="background-color: yellow;">Click Here</span></a><span style="background-color: yellow;">]</span></div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">While prices and sales of new flats are stable recently, there are some creeping indicators that demand and prices could tip soon. In October, pre-sales for lower-priced projects were stronger than for luxury projects, suggesting that consumers are becoming more price-sensitive.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">The number of unsold properties is rising and expected to continue climbing, as more than <strong><span style="color: blue; font-size: large;">100,000</span></strong> new residential units are scheduled to be completed by both public and private sector developers over the next three years, according to the Standard Chartered report.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">“From late 2012 we believe the sector’s structural issues – rising levels of unsold inventory due to robust launch schedules coupled with a formidable pipeline of completions – will continue to depress rents and capital markets,” Daiwa’s Mr. Lum said.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">Singapore has faced similar predictions of big declines in property prices, and slowdowns in population growth, that didn’t fully materialize. During the 2008-2009 global financial crisis, for example, some analysts worried about a potential swoon in the Singapore property prices, and while the market did turn down briefly, it snapped back quickly on the back of a strong economic recovery in 2010. Many analysts note that the government’s close regulation of Singapore’s property market, including oversight over releases of land for new construction, will help keep the market on an even keel in the long run.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">The latest reports were analyzing the prices of stock prices and real estate investment trusts and were not intended as guides for home buyers. However, should their predictions on real estate prices turn out to be correct, it could be good news for families that have been waiting for a better deal before they buy – and of course bad news for anyone that has just invested in a home in Singapore.</div><div class="dateStamp first"><small><span style="color: #666666; font-size: small;">__________________________________________________</span></small> </div></div>Lynn Onghttp://www.blogger.com/profile/16307041152518732144noreply@blogger.com0tag:blogger.com,1999:blog-3023315550256422134.post-28395143603311413362011-12-03T05:03:00.000-08:002011-12-03T05:48:02.249-08:00Will Singapore Property Market Soften?<div style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Dear Reader,</span></div><span style="font-size: large;"></span><br />
<div style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">News report in the media about Singapore's Property Market shall also posted on my blog so that you can just visit my blog to read those news. </span></div><span style="font-size: large;"></span><br />
<div style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Apologies for the late posting for this series of news. </span></div><span style="font-size: large;"></span><br />
<div style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Thanks!</span></div><span style="font-size: large;"></span><br />
<div style="text-align: justify;"><span style="color: black;"><span style="font-size: large;"><span style="font-family: Times, "Times New Roman", serif;">Lovely Regards,<br />
<strong>Lynn ONG (王丽英)</strong></span></span></span></div><div style="text-align: justify;"><span style="color: black;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Senior District Manager<br />
ECG Property Novena District</span></span></div><div style="text-align: justify;"><span style="color: black;"><span style="font-size: large;"><span style="font-family: Times, "Times New Roman", serif;">L3009759F / R014-395F<br />
BSc. Real Estate (NUS)<br />
<strong>Mobile: (+65) 8479 3149</strong></span></span></span></div><div style="text-align: justify;"><strong><span class="skype_pnh_print_container"><span class="skype_pnh_container" dir="ltr"><span class="skype_pnh_mark"></span></span></span></strong><span style="color: black;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Email: </span></span><a href="mailto:lynn.lovelyhomes@gmail.com" target="_blank"><span style="color: black;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">lynn.lovelyhomes@gmail.com</span></span></a></div><div style="text-align: justify;"><span style="color: black;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Website: </span></span><a href="http://www.lynnong.net/" rel="nofollow" target="_blank"><span style="color: black;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">http://www.LYNNONG.net/</span></span></a></div><div style="text-align: justify;"><span style="color: black;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Blog: </span></span><a href="http://www.lynnlovelyhomes.blogspot.com/"><span style="color: black;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">http://www.lynnlovelyhomes.blogspot.com/</span></span></a><span style="color: black;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;"> <br />
[Blogging on Analysis of Listings and Real Estate News]</span></span></div><span style="font-family: Times, "Times New Roman", serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif;"></span><span style="font-family: Arial, Helvetica, sans-serif;"><span style="font-weight: bold;">The Straits Times<br />
Nov 27, 2011 <br />
<span style="font-size: medium;"><span style="font-size: medium;">Will S'pore property market soften?</span></span></span> </span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">_______________________________________</span></div></div><div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif; font-style: italic;">Report predicts 30% fall in home prices on gloomy global outlook, shrinking demand and oversupply</span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">By Esther Teo </span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">Property has been enjoying a boom like no other in the past two years but if Standard Chartered's experts are right, the good times are coming to an end. </span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">The bank's analysts have turned markedly bearish, with a report predicting residential rents and prices plunging 30 per cent over the next three years.</span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">This will be a painful reversal given that prices surged 18 per cent last year - as Singapore bounced back from the global financial crisis - and a further 6 per cent in the first nine months of this year.</span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">Stanchart sees problems ahead, including slower population growth due to stricter immigration policies and the unprecedented supply of completed homes coming onstream.</span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">Rock-bottom interest rates could also edge up from 2013, further dampening the market.</span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">The debt crisis in Europe and concerns of a severe downturn in China could also have a significant impact on demand and prices.</span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">After four rounds of cooling measures since September 2009, the Urban Redevelopment Authority (URA) has found price gains moderating for eight consecutive quarters. </span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">They inched up just 1.3 per cent from the second quarter to the three months to Sept 30.</span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">Another report - from DTZ Research - noted that transaction volumes dropped 25 per cent in the third quarter as global uncertainty and stock market volatility took their toll on sentiment.</span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">So with all asset classes said to move in cycles - the classic boom and bust scenario - is the Singapore property market headed for a sustained downcycle and a correction in prices?</span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">The Sunday Times looks at the factors at play:</span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif; font-weight: bold;">Economic outlook </span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">The euro zone crisis is one of the big factors determining where the property market heads, experts note.</span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">Singapore's economy, buffeted by global weakness and uncertainty, is expected to grow at a sluggish 1 per cent to 3 per cent next year but that could worsen if Europe's woes escalate or a full-blown financial crisis erupts.</span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">Experts add that while any contraction in the global economy will hurt Singapore, the extent remains unknown as the European crisis plays out in slow motion.</span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">There are also other mitigating factors in play. </span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">'Property markets go through cycles, just like economies. Only if</span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">you are in an emerging market where there is a long period of strong economic growth, might you have a long property market upcycle', said DTZ's head of Asia-Pacific research Chua Chor Hoon.</span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">Employment and businesses are affected when the economy contracts so this will affect buying sentiment and the ability to buy homes. </span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">Prices will fall if the major global economies deteriorate as Singapore's economic growth will be affected, she added.</span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">DBS economist Irvin Seah said slowing economic growth typically places a heightened risk of depreciating asset values.</span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">But housing demand in Singapore has remained in good shape as unemployment remains low with wages continuing to rise. </span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">The local property market is also known to be fairly resilient, experiencing just a short blip during the global financial crisis before a sharp rebound at the end of 2009, Mr Seah noted.</span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">However, he highlighted the scenario of a hard landing in China - Singapore's largest export market - as possibly impacting the market most severely. </span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">But the risk of a hard landing in China is 'moderate' and not big enough to warrant concern as yet. </span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">Chesterton Suntec International research head Colin Tan noted that a recession coupled with job losses is likely to drag prices down.</span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">'The moment when potential buyers feel insecure about their future source of income is when they pull back from buying or begin to divest,' he said.</span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">In a downturn, foreign capital could also become defensive and pull back from investing overseas, some experts say.</span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">On the other hand, while another global crisis might also dampen sentiment, Mr Tan noted it might lead to more money being pumped into the markets as governments act to salvage their economies. </span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">Already, there is talk of a third round of quantitative easing by the United States Federal Reserve. </span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">These high levels of liquidity flooding the market might find their way to Asia and continue to support property prices.</span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif; font-weight: bold;">Interest rates </span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">Low interest rates that are making mortgages far more affordable have also helped to support the housing market. </span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">And with the United States Federal Reserve pledging to keep rates low until mid-2013, rates here are also likely to remain flat. </span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">However, Stanchart property analysts say that low borrowing costs are not enough to sustain the market.</span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">The increase in the public housing income ceiling and the lower pricing of new HDB flats - expected to siphon demand from the private sector - should still lead to price falls.</span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">What more then if rates rise, likely around mid-2013 if the US economy gets back into shape.</span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">Private home buyers are estimated to spend more than 38 per cent of their monthly gross income on mortgage repayments even though rates are only at 1.1 per cent, the report noted.</span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">This is slightly higher than the Government's target of 30 per cent to 34 per cent. 'If interest rates normalise to the 10-year average of 4 per cent, we estimate the proportion of income spent on mortgage repayments to rise to 50 per cent,' it added.</span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">Rising interest rates are expected to reduce affordability and trim market demand, possibly leading to prices dipping as well.</span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">However, as some experts note, any decision by the US Fed to raise rates will mean that its economy</span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">is finally on the mend and that could signal that the global economy is out of the doldrums, which is good news for investors.</span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif; font-weight: bold;">Slower population growth </span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">Tighter immigration policies have recently been introduced in response to unhappiness over strained infrastructure and congestion.</span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">The Stanchart report noted that population growth is expected to be halved to 1.5 per cent to 2 per cent for the next three to five years as the Government looks to encourage productivity gains and reduce its reliance on foreign workers.</span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">But this reduction might have a knock-on effect on leasing demand and rents, especially with foreigners - including permanent residents - making up 37 per cent of the population.</span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">Experts note that if demand from tenants falls, rents and correspondingly yields - which are already low at 2.6 per cent to 3 per cent - will fall, with prices following eventually.</span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">But AmFraser Securities equity analyst Lau Wei Chong noted that although the intake of foreigners has slowed, the Government maintains its open door policy to talent, which will see the population continue growing. This continued influx will mitigate any sharp fall in property prices, he said.</span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif; font-weight: bold;">Oversupply </span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">The large number of completed units from the bumper supply of state land releases raises the question of whether these homes can be absorbed by the market.</span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">The report noted that the number of homes to be launched for sale is similar to that in 2000, when prices plummeted 20 per cent.</span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">As of the third quarter, 37,400 homes are in the pipeline seeking the required pre-requisite conditions to be launched. </span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">This is similar to the 36,400 units in the first quarter of 2008 and the 37,500 units in the second quarter of 2000. </span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">Prices fell 25 per cent in 2009 and 18 per cent in 2001, the report pointed out.</span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">Completions are also expected to peak in 2015 with a staggering 47,000 units built. </span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">This is almost three times the number of private homes developers sold last year, which was itself a record.</span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">The unprecedented supply of new HDB flats - 50,000 in total for this year and next - will also divert buying demand from the private sector.</span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="background-color: yellow; font-family: Arial, Helvetica, sans-serif;">However, Dr Chua Yang Liang, head of research at Jones Lang LaSalle South-east Asia, noted that the population has expanded by about 2.8 per cent a year over the past 10 years while the number of completed homes has increased by 2.1 per cent a year.</span></div><span style="background-color: yellow; font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="background-color: yellow; font-family: Arial, Helvetica, sans-serif;">Given the way the growing population has outpaced the housing stock, this has led to a backlog of demand for homes.</span></div><span style="background-color: yellow; font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="background-color: yellow; font-family: Arial, Helvetica, sans-serif;">'If the economic crisis is not too severe, this will help to mitigate the sharpness of any price correction,' Dr Chua added.</span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">esthert@sph.com.sg </span></div><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Arial, Helvetica, sans-serif;">_______________________________________</span></div>Lynn Onghttp://www.blogger.com/profile/16307041152518732144noreply@blogger.com0tag:blogger.com,1999:blog-3023315550256422134.post-68281808459040503682011-11-24T10:04:00.000-08:002011-11-24T10:04:49.212-08:00Do you know the market well??? What's up ahead?<div style="text-align: justify;"></div><div style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Dear Reader,</span></div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Thanks for reading this post.</span></div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;"><strong><u><span style="font-family: Times, "Times New Roman", serif; font-size: large;">How knowledgeable are you or your agent?</span></u></strong></div><div style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">I am wondering if property sellers and buyers are knowledgeable about the trending in the market and the direction that the property market is potentially going to head in the near future and within the next 5 years. </span></div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">I am also wondering if your agent is kept abreast of the market conditions so that he/she would be able to share his/her opinions and advice clients well. Do they read extensively and analyse each report carefully before agreeing/disagreeing with the argument and use these knowledge to your advantage? </span></div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">"Knowledge is power? Actually useful knowledge is REAL power."</span></div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;"><strong><u><span style="font-family: Times, "Times New Roman", serif; font-size: large;">So what's the proposition?</span></u></strong></div><div style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">I'm keen to share my opinions on the news reported and reports that I read from consultancy firms like Jones Lang LaSalle, CBRE, DTZ, Colliers and Cushman & Wakefield. </span></div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Why? The fundamental reason is because I would like to share real estate knowledge with more people as I believe that real estate is not an easy field to comprehend and many sellers, buyers and even agents may find it difficult to grapple with. The more knowledgable the population is with real estate, the closer it is to the shared vision that I have with my fellow colleagues. (</span><a href="http://www.lynnong.net/agent-about"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">http://www.lynnong.net/agent-about</span></a><span style="font-family: Times, "Times New Roman", serif; font-size: large;">)</span></div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;"><strong><u><span style="font-family: Times, "Times New Roman", serif; font-size: large;">So what's the trending in the near future?</span></u></strong></div><div style="text-align: justify;"><span style="font-size: large;"><span style="font-family: Times, "Times New Roman", serif;">Mr Ku Swee Yong, a very respected analyst in Real Estate, commented on Today on 4th November 11, about the huge supply that is going to hit the market next year, expected to be 12,043, coupled with this year's supply of units projected to hit 10,889. With 22,932 units coming in, Mr Ku had argued that vacancy rate would increase as those units that are going to TOP next year would potentially meant to be tenanted than to be owner-occupied. <em></em></span></span></div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;"><em><span style="font-family: Times, "Times New Roman", serif; font-size: large;">My personal take is that if those unit were meant to be tenanted as predicted by Mr Ku, it would be highly likely that rental rates would drop and for the investors who were holding on to the units, if the rent is not able to cover the mortgage, these investors may sell the properties at a discount, hence causing a decline in the property prices. If interest rates were to increase next year, it would add oil to fire as mortgage cost would increase as well. However, it is not expected that interest rates would increase in the near term due to the low interest rate in US, fueled by high employment rate. </span></em></div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;"><strong>"On balance, in the immediate term, we expect a 5 to 10 per cent reduction in private residential prices, i.e. a drop of the URA PPI from 205.7 points to around 190 within the next 12 months, mainly due to new sales from mass markets where the supply wave is strongest." - Mr Ku Swee Yong's prediction</strong></span></div><div style="text-align: justify;"><br />
<em><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Full article of Mr Ku's news article is as follows : </span><a href="http://www.todayonline.com/Commentary/EDC111104-0000059/Supplies,-supplies,-supplies"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">http://www.todayonline.com/Commentary/EDC111104-0000059/Supplies,-supplies,-supplies</span></a><span style="font-family: Times, "Times New Roman", serif; font-size: large;">!</span></em></div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;"><strong><u><span style="font-family: Times, "Times New Roman", serif; font-size: large;">What's NeXt?</span></u></strong></div><div style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">After this post, I will be sharing on another perspective that was shared in a consultancy report on the impact of the sudden increase in housing stock that is expected to coming in 2012. Stay tuned!</span></div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: Times, "Times New Roman", serif;"><span style="color: black;"><span style="font-size: large;"><span style="font-family: Times, "Times New Roman", serif;">Lovely Regards,<br />
<strong>Lynn ONG (王丽英)</strong></span></span></span></span></span></div><div style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif;"><span style="color: black; font-family: Times, "Times New Roman", serif;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">District Manager<br />
ECG Property Novena District</span></span></span></div><div style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: Times, "Times New Roman", serif;"><span style="color: black;"><span style="font-size: large;"><span style="font-family: Times, "Times New Roman", serif;">L3009759F / R014-395F<br />
BSc. Real Estate (NUS)<br />
<strong>Mobile: (+65) 8479 3149</strong></span></span></span></span></span></div><div style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif;"><strong><span class="skype_pnh_print_container"><span class="skype_pnh_container" dir="ltr"><span class="skype_pnh_mark"></span></span></span></strong></span><span style="font-family: Times, "Times New Roman", serif;"><span style="color: black; font-family: Times, "Times New Roman", serif;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Email: </span></span></span><a href="mailto:lynn.lovelyhomes@gmail.com" target="_blank"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: Times, "Times New Roman", serif;"><span style="color: black;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">lynn.lovelyhomes@gmail.com</span></span></span></span></a></div><div style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif;"><span style="color: black; font-family: Times, "Times New Roman", serif;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Website: </span></span></span><a href="http://www.lynnong.net/" rel="nofollow" target="_blank"><span style="font-family: Times, "Times New Roman", serif;"><span style="color: black; font-family: Times, "Times New Roman", serif;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">http://www.LYNNONG.net/</span></span></span></a></div><div style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif;"><span style="color: black; font-family: Times, "Times New Roman", serif;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Blog: </span></span></span><a href="http://www.lynnlovelyhomes.blogspot.com/"><span style="font-family: Times, "Times New Roman", serif;"><span style="color: black; font-family: Times, "Times New Roman", serif;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">http://www.lynnlovelyhomes.blogspot.com/</span></span></span></a><span style="font-family: Times, "Times New Roman", serif;"><span style="color: black; font-family: Times, "Times New Roman", serif;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;"> <br />
[Blogging on Analysis of Listings and Real Estate News]</span></span></span></div>Lynn Onghttp://www.blogger.com/profile/16307041152518732144noreply@blogger.com0tag:blogger.com,1999:blog-3023315550256422134.post-6658563830919248362011-11-20T10:40:00.000-08:002011-11-20T10:42:30.737-08:00Back to Work!<div style="text-align: justify;"><span style="color: black; font-family: Times, "Times New Roman", serif; font-size: large;">Dear Clients and Readers,</span></div><div style="text-align: justify;"><span style="color: black;"><br />
</span></div><div style="text-align: justify;"><strong><u><span style="color: black; font-family: Times, "Times New Roman", serif; font-size: large;">Reason for Gap in Blogging</span></u></strong></div><div style="text-align: justify;"><span style="color: black; font-family: Times, "Times New Roman", serif; font-size: large;">Thanks for the long wait. With my last blogpost in 24th June 2011, I had been busy with planning for my wedding and hence I did not have the time to blog. Apologies for the long wait. The events leading up to the wedding dinner and managing my clients real estate needs left me with limited time on this site. Now that the dust had settled from the joyous event, I'm back to blogging about the real estate news and posting of my client's units for sale. </span></div><div style="text-align: justify;"><span style="color: black;"><br />
</span></div><div style="text-align: justify;"><strong><u><span style="color: black; font-family: Times, "Times New Roman", serif; font-size: large;">Blogging and The Woodlands Story</span></u></strong></div><div style="text-align: justify;"><span style="color: black; font-family: Times, "Times New Roman", serif; font-size: large;">The power of blogging and ability to analyze into real estate news / sharing information about listings had brought me to help both Woodland's Executive Apartment Owners, Richard & Katherine to sell their unit in the resale market. When I went on to do a presentation to this lovely couple, I was questioned on my listing on </span><a href="http://www.lynnong.net/"><span style="color: black; font-family: Times, "Times New Roman", serif; font-size: large;">www.LYNNONG.net</span></a><span style="color: black; font-family: Times, "Times New Roman", serif; font-size: large;">, "Why you don't have HDB listings on your website?" A simple reply from me "Because for the HDB units that I marketed, I was able to close those units within 1-2 weeks." </span></div><div style="text-align: justify;"><span style="color: black;"><br />
</span></div><div style="text-align: justify;"><span style="color: black; font-family: Times, "Times New Roman", serif; font-size: large;">True enough, I closed the sale for Richard and Katherine in 2 viewings at 40k Cash-Over-Valuation and gained their trust and friendship. I was invited for their housewarming yesterday at Clover By The Park and I am thankful for having served this wonderful couple. </span></div><div style="text-align: justify;"><span style="color: black;"><br />
</span></div><div style="text-align: justify;"><strong><u><span style="color: black; font-family: Times, "Times New Roman", serif; font-size: large;">The Way Ahead</span></u></strong></div><div style="text-align: justify;"><span style="color: black; font-family: Times, "Times New Roman", serif; font-size: large;">Having been through the busy period in preparation for my wedding, I am now going full swing back to work and to continue working on my vision of helping all my clients to have a peace of mind in their real estate needs. I will continue to share my views on the property market and to get the best deal for my clients. Having said that, I cannot do the impossible of getting a ridiculous price like $200,000 COV for a unit but what can be expected of me would be to give you an honest and frank analysis of the market and get you the highest price that the market is willing to pay in the current market. Do give me an opportunity to genuinely serve you. </span></div><div style="text-align: justify;"><span style="color: black;"><br />
</span></div><div style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-size: large;"><span style="color: black;">Lovely Regards,<br />
<strong>Lynn ONG (王丽英)</strong></span></span></span></span></div><div style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif;"><span style="color: black; font-family: Times, "Times New Roman", serif; font-size: large;">District Manager<br />
ECG Property Novena District</span></span></div><div style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-size: large;"><span style="color: black;">L3009759F / R014-395F<br />
BSc. Real Estate (NUS)<br />
<strong>Mobile: (+65) 8479 3149</strong></span></span></span></span></div><div style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif;"><strong><span class="skype_pnh_print_container"><span class="skype_pnh_container" dir="ltr"><span class="skype_pnh_mark"></span></span></span></strong></span><span style="font-family: Times, "Times New Roman", serif;"><span style="color: black; font-family: Times, "Times New Roman", serif; font-size: large;">Email: </span></span><a href="mailto:lynn.lovelyhomes@gmail.com" target="_blank"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-family: Times, "Times New Roman", serif;"><span style="color: black; font-size: large;">lynn.lovelyhomes@gmail.com</span></span></span></a></div><div style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif;"><span style="color: black; font-family: Times, "Times New Roman", serif; font-size: large;">Website: </span></span><a href="http://www.lynnong.net/" rel="nofollow" target="_blank"><span style="font-family: Times, "Times New Roman", serif;"><span style="color: black; font-family: Times, "Times New Roman", serif; font-size: large;">http://www.LYNNONG.net/</span></span></a></div><div style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif;"><span style="color: black; font-family: Times, "Times New Roman", serif; font-size: large;">Blog: </span></span><a href="http://www.lynnlovelyhomes.blogspot.com/"><span style="font-family: Times, "Times New Roman", serif;"><span style="color: black; font-family: Times, "Times New Roman", serif; font-size: large;">http://www.lynnlovelyhomes.blogspot.com/</span></span></a><span style="font-family: Times, "Times New Roman", serif;"><span style="color: black; font-family: Times, "Times New Roman", serif; font-size: large;"> <br />
[Blogging on Analysis of Listings and Real Estate News]</span></span></div>Lynn Onghttp://www.blogger.com/profile/16307041152518732144noreply@blogger.com0tag:blogger.com,1999:blog-3023315550256422134.post-33143873305448120232011-06-24T20:16:00.000-07:002011-11-20T10:44:35.390-08:00Review on (D19) 264D Compassvale Bow HDB - For SALE<span style="font-size: large;"><span style="font-family: Times, "Times New Roman", serif;"><span style="color: black;">Exclusive Agent Marketing 264D Compassvale Bow HIGH FLOOR UNIT! </span><strong><span style="color: red; font-size: x-large;">(CLOSED in 1 VIEWING! COV Above $50k!)</span></strong></span></span><br />
<span style="font-size: large;"><br />
<span style="color: black; font-family: Times, "Times New Roman", serif;"></span></span><br />
<span style="color: black; font-family: Times, "Times New Roman", serif; font-size: large;"><strong>Basic Details of Unit:</strong></span><br />
<span style="color: black; font-family: Times, "Times New Roman", serif; font-size: large;"><strong>Unit Size: 92 SQM / 990 Sqft</strong></span><br />
<span style="color: black; font-family: Times, "Times New Roman", serif; font-size: large;"><strong>Floor: Above #10</strong></span><br />
<span style="color: black; font-family: Times, "Times New Roman", serif; font-size: large;"><strong>Number of Bedrooms: 3</strong></span><br />
<span style="color: black; font-family: Times, "Times New Roman", serif; font-size: large;"><strong>Number of Bathrooms: 2</strong></span><br />
<span style="color: black; font-family: Times, "Times New Roman", serif; font-size: large;"><strong>Valuation: $493,000</strong></span><br />
<span style="color: black; font-family: Times, "Times New Roman", serif; font-size: large;"><strong>Asking: $560,000 (View To Offer)</strong></span><br />
<span style="font-size: large;"><br />
<span style="color: black; font-family: Times, "Times New Roman", serif;"></span></span><br />
<div style="text-align: justify;"><span style="color: black; font-family: Times, "Times New Roman", serif; font-size: large;">Based on HDB's statistics, the recent transaction of a high floor unit is $525,000 and with the excellent condition of this unit, the owners are asking for $25,000 above the last transacted price for a high floor unit. </span></div><span style="font-size: large;"><div style="text-align: justify;"><br />
</div><span style="color: black; font-family: Times, "Times New Roman", serif;"></span></span><div style="text-align: justify;"><span style="color: black; font-family: Times, "Times New Roman", serif; font-size: large;">The location of the unit is near Buangkok NEL MRT line, just a HOP away! With the high floor and good location, the price is definitely reasonable!</span></div><span style="font-size: large;"><div style="text-align: justify;"><br />
</div><span style="color: black; font-family: Times, "Times New Roman", serif;"></span></span><div style="text-align: justify;"><span style="color: black; font-family: Times, "Times New Roman", serif; font-size: large;">Words aside, photos for the unit!</span></div><span style="font-size: large;"><br />
<span style="color: black; font-family: Times, "Times New Roman", serif;"></span></span><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgymfk3N9O3buVFgll3acBYoZSfPlRRBTvFEI98MZGaiTjS32tdnGVDIj5jxowyR1v65j1lT3IjaRZRIOv0Z_2xuLwLM_PJUIiD5WXSnkO7CW3nxTp46pbf4XBJLCsBzndVfi2CK6i6Zag/s1600/1.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><span style="color: black; font-family: Times, "Times New Roman", serif; font-size: large;"><img border="0" height="320" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgymfk3N9O3buVFgll3acBYoZSfPlRRBTvFEI98MZGaiTjS32tdnGVDIj5jxowyR1v65j1lT3IjaRZRIOv0Z_2xuLwLM_PJUIiD5WXSnkO7CW3nxTp46pbf4XBJLCsBzndVfi2CK6i6Zag/s320/1.jpg" width="239" /></span></a></div><div style="text-align: center;"><span style="color: black; font-family: Times, "Times New Roman", serif; font-size: large;">Dining Area</span></div><div style="text-align: center;"><span style="font-size: large;"><br />
<span style="color: black; font-family: Times, "Times New Roman", serif;"></span></span></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgH7SVloxi2K2UxPiYcEH5pOkbWT6MRvHeoPhkHmgzL5DoQGmzO4bVaBFiZmjqWzSyjxt6kUlJAsN1HovypPW2SgZKI1nBsPtFWNVwJWibCaHKi2ObXf6js303YoU5A-m9VXYiXzPTsI6g/s1600/2.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><span style="color: black; font-family: Times, "Times New Roman", serif; font-size: large;"><img border="0" height="320" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgH7SVloxi2K2UxPiYcEH5pOkbWT6MRvHeoPhkHmgzL5DoQGmzO4bVaBFiZmjqWzSyjxt6kUlJAsN1HovypPW2SgZKI1nBsPtFWNVwJWibCaHKi2ObXf6js303YoU5A-m9VXYiXzPTsI6g/s320/2.jpg" width="239" /></span></a></div><div style="text-align: center;"><span style="color: black; font-family: Times, "Times New Roman", serif; font-size: large;">Designer Kitchen</span></div><div style="text-align: center;"><span style="font-size: large;"><br />
<span style="color: black; font-family: Times, "Times New Roman", serif;"></span></span></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiqAVrHpZsOpokVm169CfoKOBCm5UCVHZbt1yTqSayhLeGnI9T5psNCs22849B6znKqQhFW-I4o0aMaQpgHFjIa7JvqjMz0GKMjmepWQcK7N6qpNj6caKbFX78U9CcRwQfq0pV3ddzc3sk/s1600/3.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><span style="color: black; font-family: Times, "Times New Roman", serif; font-size: large;"><img border="0" height="320" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiqAVrHpZsOpokVm169CfoKOBCm5UCVHZbt1yTqSayhLeGnI9T5psNCs22849B6znKqQhFW-I4o0aMaQpgHFjIa7JvqjMz0GKMjmepWQcK7N6qpNj6caKbFX78U9CcRwQfq0pV3ddzc3sk/s320/3.jpg" width="239" /></span></a></div><div style="text-align: center;"><span style="color: black; font-family: Times, "Times New Roman", serif; font-size: large;">Common Room</span></div><div style="text-align: center;"><span style="font-size: large;"><br />
<span style="color: black; font-family: Times, "Times New Roman", serif;"></span></span></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgsjUH0mOvMWXHnTuN29ivMjBX3rGdU9nJAcEFp8tVPvQNyiVsOxV9qHVpMmZ6xKa4YTyKnx5zZdUOu4BJ1zX__okaG2fDHzKxM0zFVbwPf9jQJZKsKDh76Fkki9AOw1Ro59wFRnpgCZAY/s1600/4.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><span style="color: black; font-family: Times, "Times New Roman", serif; font-size: large;"><img border="0" height="320" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgsjUH0mOvMWXHnTuN29ivMjBX3rGdU9nJAcEFp8tVPvQNyiVsOxV9qHVpMmZ6xKa4YTyKnx5zZdUOu4BJ1zX__okaG2fDHzKxM0zFVbwPf9jQJZKsKDh76Fkki9AOw1Ro59wFRnpgCZAY/s320/4.jpg" width="239" /></span></a></div><div style="text-align: center;"><span style="color: black; font-family: Times, "Times New Roman", serif; font-size: large;">Masterbed Room</span></div><div style="text-align: center;"><span style="font-size: large;"><br />
<span style="color: black; font-family: Times, "Times New Roman", serif;"></span></span></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEguiUBmSTWiwXWgiGes60kXU81LiVUhpmxPBMd7fo4aY7yK4P4R4uk5yf1P6tl9nE1H-3CCqy3Ewj9Rnt1Jpj_Qj3kblp7Ox0ITKfEMFaHY9NXmIwT6WxqvTUvMGraMR8TcBqUKMJA30Z4/s1600/5.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><span style="color: black; font-family: Times, "Times New Roman", serif; font-size: large;"><img border="0" height="239" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEguiUBmSTWiwXWgiGes60kXU81LiVUhpmxPBMd7fo4aY7yK4P4R4uk5yf1P6tl9nE1H-3CCqy3Ewj9Rnt1Jpj_Qj3kblp7Ox0ITKfEMFaHY9NXmIwT6WxqvTUvMGraMR8TcBqUKMJA30Z4/s320/5.jpg" width="320" /></span></a></div><div style="text-align: center;"><span style="color: black; font-family: Times, "Times New Roman", serif; font-size: large;">Living Room View from Dining Area</span></div><div style="text-align: center;"><span style="font-size: large;"><br />
<span style="color: black; font-family: Times, "Times New Roman", serif;"></span></span></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhHaBC5XMqPvYNjszoq643c7whYb2q75a2IAoq2H_iM9JLJkmNVd-qn74EaQfdq41rHy0we76GRL2R2f1RjM9NCgaVLJUqgLrakczyo4zYrdfODOaVMs5hXMKNwqWtNvq8e4OwMVQDgf44/s1600/6.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><span style="color: black; font-family: Times, "Times New Roman", serif; font-size: large;"><img border="0" height="239" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhHaBC5XMqPvYNjszoq643c7whYb2q75a2IAoq2H_iM9JLJkmNVd-qn74EaQfdq41rHy0we76GRL2R2f1RjM9NCgaVLJUqgLrakczyo4zYrdfODOaVMs5hXMKNwqWtNvq8e4OwMVQDgf44/s320/6.jpg" width="320" /></span></a></div><div style="text-align: center;"><span style="color: black; font-family: Times, "Times New Roman", serif; font-size: large;">Cosy Living Room</span></div><div style="text-align: left;"><span style="font-size: large;"><br />
<span style="color: black; font-family: Times, "Times New Roman", serif;"></span></span></div><div style="text-align: justify;"><span style="color: black; font-family: Times, "Times New Roman", serif; font-size: large;">After sharing with you on the interior of the house, don't you agree that the price asked for this unit is reasonable? </span></div><div style="text-align: justify;"><span style="font-size: large;"><br />
<span style="color: black; font-family: Times, "Times New Roman", serif;"></span></span></div><div style="text-align: justify;"><span style="color: black; font-family: Times, "Times New Roman", serif; font-size: large;">Call me NOW to arrange to view this unit. View to Offer for this unit. You will LOVE it! </span></div><div style="text-align: left;"><span style="font-size: large;"><br />
<span style="color: black; font-family: Times, "Times New Roman", serif;"></span></span></div><div style="text-align: left;"><span style="font-size: large;"><span style="font-family: Times, "Times New Roman", serif;"><span style="color: black;">Lovely Regards,<br />
<strong>Lynn ONG (王丽英)</strong></span></span></span></div><div align="justify"><span style="color: black; font-family: Times, "Times New Roman", serif; font-size: large;">District Manager<br />
ECG Property Novena District</span></div><div align="justify"><span style="font-size: large;"><span style="font-family: Times, "Times New Roman", serif;"><span style="color: black;">L3009759F / R014-395F<br />
BSc. Real Estate (NUS)<br />
<strong>Mobile: (+65) 8479 3149</strong></span></span></span></div><div align="justify"><strong><span class="skype_pnh_print_container"><span class="skype_pnh_container" dir="ltr"><span class="skype_pnh_mark"></span></span></span></strong><span style="color: black; font-family: Times, "Times New Roman", serif; font-size: large;">Email: </span><a href="mailto:lynn.lovelyhomes@gmail.com" target="_blank"><span style="color: black; font-family: Times, "Times New Roman", serif; font-size: large;">lynn.lovelyhomes@gmail.com</span></a></div><div align="justify"><span style="color: black; font-family: Times, "Times New Roman", serif; font-size: large;">Website: </span><a href="http://www.lynnong.net/" rel="nofollow" target="_blank"><span style="color: black; font-family: Times, "Times New Roman", serif; font-size: large;">http://www.LYNNONG.net/</span></a></div><div align="justify"><span style="color: black; font-family: Times, "Times New Roman", serif; font-size: large;">Blog: </span><a href="http://www.lynnlovelyhomes.blogspot.com/"><span style="color: black; font-family: Times, "Times New Roman", serif; font-size: large;">http://www.lynnlovelyhomes.blogspot.com/</span></a><span style="color: black; font-family: Times, "Times New Roman", serif; font-size: large;"> <br />
[Blogging on Analysis of Listings and Real Estate News]</span></div>Lynn Onghttp://www.blogger.com/profile/16307041152518732144noreply@blogger.com0tag:blogger.com,1999:blog-3023315550256422134.post-65695811182905553092011-02-20T18:21:00.000-08:002011-05-14T22:10:45.057-07:00Review on (D28) Seletar Springs Condo - 100, Gerald Drive<span style="font-family: Times, "Times New Roman", serif; font-size: large;"><strong>Review on (D28) Seletar Springs Condo - 100, Gerald Drive - Penthouse Unit!!!</strong> <strong><span style="color: red; font-size: x-large;">[SOLD!!!]</span></strong></span><br />
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<span style="font-family: Times, "Times New Roman", serif; font-size: large;">Basic Details of Development:<br />
District 28 (North-East Region)<br />
Tenure: 99 Year Leasehold from 1997<br />
Total Number of Units: 340<br />
Highest Floor: #04<br />
TOP: 2000</span><br />
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<span style="font-family: Times, "Times New Roman", serif; font-size: large;">Basic Details of Unit:</span><br />
<span style="font-family: Times, "Times New Roman", serif; font-size: large;">Asking Price: In excess of $1,000,000</span><br />
<span style="font-family: Times, "Times New Roman", serif; font-size: large;">Size of Unit: 1,561sqft (640.61psf)</span><br />
<span style="font-family: Times, "Times New Roman", serif; font-size: large;">Number of Bedrooms: 3</span><br />
<span style="font-family: Times, "Times New Roman", serif; font-size: large;">Number of Bathrooms: 3</span><br />
<span style="font-family: Times, "Times New Roman", serif; font-size: large;">Condition of House: Move-In Condition! </span><br />
<span style="font-family: Times, "Times New Roman", serif; font-size: large;">Co-Broking Available! </span><br />
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<span style="font-family: Times, "Times New Roman", serif;"></span></span><br />
<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhDp6VXVNSEI3MV0XMa86LH8TpDhbSKJAxXVb0xI4tuzs7eBh6a-lAOYh_ZxSDKvuzsWqc1pciIcxNAbCyeT6SXD_F-bPTnX9jGvmsWwK0SgARgRsASB7e3LwLzJ_ZvawVneNsUCkHJp8o/s1600/1.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;"><img border="0" height="239" j6="true" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhDp6VXVNSEI3MV0XMa86LH8TpDhbSKJAxXVb0xI4tuzs7eBh6a-lAOYh_ZxSDKvuzsWqc1pciIcxNAbCyeT6SXD_F-bPTnX9jGvmsWwK0SgARgRsASB7e3LwLzJ_ZvawVneNsUCkHJp8o/s320/1.jpg" width="320" /></span></a></div><div style="text-align: center;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;"> Photo 1: Living Room</span></div><div style="text-align: center;"><span style="font-size: large;"><br />
<span style="font-family: Times, "Times New Roman", serif;"></span></span></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhAyPznrEZCaSIhxMpqtf9MAOHrPv2okZa0z99z154BtzlWU35KgWALlwLF6drHDlzqepaZLzzk9lJutHdS_TrGpuuF3Xsuu982dMzYDuuyJBGZbjt_vFm5icg9X5GcvLKUbwozyapyR84/s1600/2.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;"><img border="0" height="239" j6="true" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhAyPznrEZCaSIhxMpqtf9MAOHrPv2okZa0z99z154BtzlWU35KgWALlwLF6drHDlzqepaZLzzk9lJutHdS_TrGpuuF3Xsuu982dMzYDuuyJBGZbjt_vFm5icg9X5GcvLKUbwozyapyR84/s320/2.jpg" width="320" /></span></a></div><div class="separator" style="clear: both; text-align: center;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Photo 2: Master Bedroom</span></div><span style="font-size: large;"><br />
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<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgv3YuODVbC4Np8VQUzBJuJk9aj1IrhRXgrRnMxf3xLJ7vgpyoLp0JiH4ytOEd5Hu2ZI0nueuo6WsjJrMP-0h1vXYH4eFyOevwdOQi0cVJN-0yj8fAZAkJl6DnnXijdRmpeXSwlA9rBl8Q/s1600/3.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;"><img border="0" height="239" j6="true" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgv3YuODVbC4Np8VQUzBJuJk9aj1IrhRXgrRnMxf3xLJ7vgpyoLp0JiH4ytOEd5Hu2ZI0nueuo6WsjJrMP-0h1vXYH4eFyOevwdOQi0cVJN-0yj8fAZAkJl6DnnXijdRmpeXSwlA9rBl8Q/s320/3.jpg" width="320" /></span></a></div><div class="separator" style="clear: both; text-align: center;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Photo 3: Common Room</span></div><span style="font-size: large;"><br />
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<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg-bh-R7vfpU0LKyCB_TkZCqVmma5HM_E_8gGlQo4xkseht2r8kVd9U_xw9DMg0NJF8O7e1V83NnAJl4WpgyTpUzE8niGQrEGYbB2M7PM-o7tMixvqUdONpLLNELkgiDxB6UrP14hVZwEc/s1600/4.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;"><img border="0" height="239" j6="true" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg-bh-R7vfpU0LKyCB_TkZCqVmma5HM_E_8gGlQo4xkseht2r8kVd9U_xw9DMg0NJF8O7e1V83NnAJl4WpgyTpUzE8niGQrEGYbB2M7PM-o7tMixvqUdONpLLNELkgiDxB6UrP14hVZwEc/s320/4.jpg" width="320" /></span></a></div><div class="separator" style="clear: both; text-align: center;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Photo 4: Common Room</span></div><span style="font-size: large;"><br />
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<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgXjrenI5BBcApaaf4xek5nJycJs2pEKYDtSX7KMuZ5jfIatOMYNDU89Nh5CVSqGCD2qPWf9maTLRbkS0740e9tr9f5X4glMvewbleh_kPlhBXzF9bu0mQqYmedqZ7TeRezwuof_m9BoJs/s1600/5.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;"><img border="0" height="239" j6="true" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgXjrenI5BBcApaaf4xek5nJycJs2pEKYDtSX7KMuZ5jfIatOMYNDU89Nh5CVSqGCD2qPWf9maTLRbkS0740e9tr9f5X4glMvewbleh_kPlhBXzF9bu0mQqYmedqZ7TeRezwuof_m9BoJs/s320/5.jpg" width="320" /></span></a></div><div class="separator" style="clear: both; text-align: center;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Photo 5: Kitchen</span></div><span style="font-size: large;"><br />
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<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgJxG8g2oCoOoI7OjlHRfE5cKZ-LoCybzP3nxOIUuERN51sqNbnaJPJP5wTpppzsNIeycw8hWl0XmmEEFnokhq2dMv7U5p2rdIPGwyxvTHdJy0r4O4CERDhFOOLcnTduYKzTcphku_Og5g/s1600/6.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;"><img border="0" height="320" j6="true" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgJxG8g2oCoOoI7OjlHRfE5cKZ-LoCybzP3nxOIUuERN51sqNbnaJPJP5wTpppzsNIeycw8hWl0XmmEEFnokhq2dMv7U5p2rdIPGwyxvTHdJy0r4O4CERDhFOOLcnTduYKzTcphku_Og5g/s320/6.jpg" width="239" /></span></a></div><div class="separator" style="clear: both; text-align: center;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Photo 6: Toilet 1</span></div><span style="font-size: large;"><br />
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<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg_QbKeLoK4YQ8ZkdQgrahXSfXbAUbuCLCOU0bfqGAulF3n9iosYSS5lmZZZBkWZq60QxTFuveavuIA86hzuw-CDPX1WbI-Kx-ehV9dSMn0ESn0jzsOr74BPD5BeuQAtlyQsBy_orFV6wQ/s1600/7.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;"><img border="0" height="320" j6="true" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg_QbKeLoK4YQ8ZkdQgrahXSfXbAUbuCLCOU0bfqGAulF3n9iosYSS5lmZZZBkWZq60QxTFuveavuIA86hzuw-CDPX1WbI-Kx-ehV9dSMn0ESn0jzsOr74BPD5BeuQAtlyQsBy_orFV6wQ/s320/7.jpg" width="239" /></span></a></div><div class="separator" style="clear: both; text-align: center;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Photo 7: Toilet 2</span></div><span style="font-size: large;"><br />
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<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh_IJxiVmwLYtWnzsm4jO8ercZHhaAeEcMmcngbmobhHF6ol1_HBqren1aN1jA6LoSAjfj24t56cPKGWO_w16CWNSSMDJC8GkArv5YdW_h_3t52VIfpodSAm5WETLbxhEcedUl2ucy7gQQ/s1600/8.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;"><img border="0" height="239" j6="true" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh_IJxiVmwLYtWnzsm4jO8ercZHhaAeEcMmcngbmobhHF6ol1_HBqren1aN1jA6LoSAjfj24t56cPKGWO_w16CWNSSMDJC8GkArv5YdW_h_3t52VIfpodSAm5WETLbxhEcedUl2ucy7gQQ/s320/8.jpg" width="320" /></span></a></div><div class="separator" style="clear: both; text-align: center;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Photo 8: Serene Environment</span></div><span style="font-size: large;"><br />
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<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhEvh8UJIvkmylT5J2eR5X6Bi2OqVOD0RowZyzvm3dH519Cnp_a3n5b8GLiTuMucxUhv5haiEjVhYH9RL4ZLUJLO5f7iQwPhtz9v51bn7FNVEBrCEt4zGI5PWQ011No-DNMP9yBy238IkM/s1600/9.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;"><img border="0" height="239" j6="true" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhEvh8UJIvkmylT5J2eR5X6Bi2OqVOD0RowZyzvm3dH519Cnp_a3n5b8GLiTuMucxUhv5haiEjVhYH9RL4ZLUJLO5f7iQwPhtz9v51bn7FNVEBrCEt4zGI5PWQ011No-DNMP9yBy238IkM/s320/9.jpg" width="320" /></span></a></div><div class="separator" style="clear: both; text-align: center;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Photo 9: Nice Landscaping of Development</span></div><div class="separator" style="clear: both; text-align: center;"><span style="font-family: Times, "Times New Roman", serif;"><br />
</span></div><div style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">This unit is a STAR BUY!!! As the owner is expecting to have his baby due in Jun/Jul period, the owner is offering a discount on this UNIT!</span><br />
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<span style="font-family: Times, "Times New Roman", serif; font-size: large;">The average selling price of this development is $687psf and this would have translated to a price of <span style="background-color: yellow;">$1,072,407</span>. And for the most recent transaction of a unit in this development, it is $700psf and that would translate to a price of <span style="background-color: yellow;">$1,092,700</span>!!!</span><br />
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<span style="background-color: yellow; font-family: Times, "Times New Roman", serif; font-size: large;">At the asking price of $1,000,000, this unit is very REASONABLY priced! Whilst the price that is asked by the owner is $1,000,000, there is a condition that the owner would like to have for the offering of this discount.</span><br />
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<span style="font-family: Times, "Times New Roman", serif; font-size: large;">The owner would like to request for the completion to be in Jun/Jul period so that he can move into his new house. If this timeframe is suitable for you, please let me know so that I can arrange for a viewing for you.</span><br />
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<span style="font-family: Times, "Times New Roman", serif; font-size: large;">For those who are intending to upgrade, this is a good unit as the time frame for you to sell your HDB would be just nice as well. We can start marketing your HDB and then the time for you to get a buyer will ensure that you will not have a fire sale on your HDB and at the same time, you will be able to acquire this nice property in this nice estate at a very very good price. </span></div><div class="separator" style="clear: both; text-align: justify;"><span style="font-family: Times, "Times New Roman", serif;"><br />
</span></div><div style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">I hope that with this review, I had provided a good analysis of the pricing of the unit and if you have further queries for me, please feel free to contact me.</span></div><div style="text-align: justify;"><span style="font-size: large;"><br />
<span style="font-family: Times, "Times New Roman", serif;"></span></span></div><div align="justify"><span style="font-size: large;"><span style="font-family: Times, "Times New Roman", serif;">Lovely Regards,<br />
<strong>Lynn ONG (王丽英)</strong></span></span></div><div align="justify"><div><span style="font-family: Times, "Times New Roman", serif; font-size: large;">District Manager<br />
ECG Property Novena District</span></div><div><span style="font-size: large;"><span style="font-family: Times, "Times New Roman", serif;">L3009759F / R014-395F<br />
BSc. Real Estate (NUS)<br />
<strong>Mobile: <span class="skype_pnh_print_container"><span class="skype_pnh_print_container">(+65) 8479 3149</span><span class="skype_pnh_container" dir="ltr"><span style="color: #49535a;"><span class="skype_pnh_mark"> </span></span></span></span></strong></span></span></div><div><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Email: </span><a href="mailto:lynn.lovelyhomes@gmail.com" target="_blank"><span style="color: #2288bb; font-family: Times, "Times New Roman", serif; font-size: large;">lynn.lovelyhomes@gmail.com</span></a></div><div><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Website: </span><a href="http://www.lynnong.net/" rel="nofollow" target="_blank"><span style="color: #888888; font-family: Times, "Times New Roman", serif; font-size: large;">http://www.LYNNONG.net/</span></a></div><div><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Blog: </span><a href="http://www.lynnlovelyhomes.blogspot.com/"><span style="color: #888888; font-family: Times, "Times New Roman", serif; font-size: large;">http://www.lynnlovelyhomes.blogspot.com/</span></a><span style="font-family: Times, "Times New Roman", serif; font-size: large;"> <br />
[Blogging on Analysis of Listings and Real Estate News]</span></div></div>Lynn Onghttp://www.blogger.com/profile/16307041152518732144noreply@blogger.com0tag:blogger.com,1999:blog-3023315550256422134.post-45009426888224671132011-02-20T17:54:00.000-08:002011-05-14T22:11:00.492-07:00Review on (D22) The Centris - 1, Jurong West<strong><span style="font-family: Times, "Times New Roman", serif;"><span style="font-size: large;">Review on (D22) The Centris - 1, Jurong West - Above #10 </span><span style="color: red; font-size: x-large;">[SOLD!!!]</span></span></strong><br />
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<span style="font-size: large;"><span style="font-family: Times;">Basic Details of Development:<br />
<span style="font-family: Times, "Times New Roman", serif;">District 22 (West Region)</span></span><br />
<span style="font-family: Times, "Times New Roman", serif;">Tenure: 99 Year Leasehold</span></span><br />
<span style="font-size: large;"><span style="font-family: Times, "Times New Roman", serif;"></span><span style="font-family: Times, "Times New Roman", serif;">Total Number of Units: 610</span><br />
<span style="font-family: Times, "Times New Roman", serif;">Highest Floor: #16</span><br />
<span style="font-family: Times, "Times New Roman", serif;">TOP: 2009</span></span><br />
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<div style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-size: large;">This unit is to be sold with tenancy. The tenancy agreement will run till April 2012 at a monthly rental of $3800/month. The tenant is an expat working in Biopolis and he had been very punctual with the rental payment for the last 10 months. </span></span><br />
<span style="font-family: Times; font-size: large;"><br />
</span><span style="font-family: Times, "Times New Roman", serif;"><span style="font-size: large;">This unit is priced at $1.15m by the owner for sale and the bank indicative of the unit is at $1.15m as well. Whilst the pricing is at bank's indicative valuation, the selling price of the unit is negotiable. </span></span></div><div style="text-align: justify;"><span style="font-family: Times; font-size: large;"><br />
</span><span style="font-family: Times, "Times New Roman", serif;"><span style="font-size: large;">Working on the rental yield of the property, with $3,800/month, the analysis is as follows:</span></span></div><div style="text-align: justify;"><span style="font-family: Times; font-size: large;"><br />
</span><span style="font-size: large;"><span style="font-family: Times, "Times New Roman", serif;"><span style="background-color: yellow;">Buyers without Outstanding Mortgage Loans</span> - 80% Loan with DBS <span style="font-family: Times New Roman;">PROMO 3 Year Fixed 3M Sibor Package With MyProtector Mortgage (3 Year Lock-In):</span></span></span></div><div style="text-align: justify;"><span style="font-size: large;"><br />
</span><span style="font-family: Times New Roman; font-size: large;"><span style="font-family: Times, "Times New Roman", serif;">1st Year Mortgage Payment: $3078.89</span></span></div><div style="text-align: justify;"><div style="text-align: justify;"><span style="font-family: Times New Roman; font-size: large;"><span style="font-family: Times, "Times New Roman", serif;">2nd Year Mortgage Payment: $3255.18</span></span></div><div style="text-align: justify;"><span style="font-family: Times New Roman; font-size: large;"><span style="font-family: Times, "Times New Roman", serif;">3rd Year Mortgage Payment: $3391.31</span></span><br />
<span style="font-family: Times New Roman; font-size: large;"><span style="font-family: Times, "Times New Roman", serif;"><br />
</span></span></div></div><div style="text-align: justify;"><span style="font-family: Times New Roman; font-size: large;"><span style="font-family: Times, "Times New Roman", serif;">The rental of $3,800 would have covered almost all the mortgage payments for the unit and it is a self-servicing loan with slight top-up per month. On the most simple calculation of rental yield, ignoring property tax and interest on mortgage, the annual rental cashflow of $45,600 vis-a-vis the <span style="background-color: yellow;">initial capital outlay of $230,000 for the 20% downpayment would have a simple yield of 19.82%.</span> To get a better calculation, do contact me and I can work it out for you subsequently. </span></span><br />
<span style="font-family: Times; font-size: large;"><br />
</span><span style="font-size: large;"><span style="font-family: Times, "Times New Roman", serif;"><span style="background-color: yellow;">Buyers with Outstanding Mortgage Loans</span> - 60% Loan with DBS <span style="font-family: Times New Roman;">PROMO 3 Year Fixed 3M Sibor Package With MyProtector Mortgage (3 Year Lock-In):</span></span></span></div><div style="text-align: justify;"><div style="text-align: justify;"><span style="font-size: large;"><br />
</span><span style="font-family: Times New Roman; font-size: large;"><span style="font-family: Times, "Times New Roman", serif;">1st Year Mortgage Payment: $2309.17</span></span></div><div style="text-align: justify;"><span style="font-family: Times New Roman; font-size: large;"><span style="font-family: Times, "Times New Roman", serif;">2nd Year Mortgage Payment: $2441.38</span></span></div><div style="text-align: justify;"><span style="font-family: Times New Roman; font-size: large;"><span style="font-family: Times, "Times New Roman", serif;">3rd Year Mortgage Payment: $2543.48</span></span><br />
<span style="font-family: Times; font-size: large;"><br />
</span><span style="font-family: Times New Roman; font-size: large;"><span style="font-family: Times, "Times New Roman", serif;">The biggest consideration for buyers with outstanding loan would be the initial capital outlay which is 40% of the purchase price. Assuming that the purchase price is $1.15m, the initial capital outlay is $460,000. While the rental of $3,800 would have covered all the mortgage payments for the unit and generating a positive cashflow of $1300-1500 per month, the rental yield would have to be calculated accurately. </span></span></div><div style="text-align: justify;"><br />
<span style="font-family: Times New Roman; font-size: large;"><span style="font-family: Times, "Times New Roman", serif;">On the most simple calculation of rental yield, ignoring property tax and interest on mortgage, the annual rental cashflow of $45,600 vis-a-vis the <span style="background-color: yellow;">initial capital outlay of $460,000 for the 40% downpayment would have a simple yield of 9.91%</span>. To get a better calculation, do contact me and I can work it out for you subsequently. </span></span></div></div><div style="text-align: justify;"><span style="font-size: large;"><br />
</span></div><div style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-size: large;">The most recent transaction for the development is in Jan 2011 and the transaction price is $900k for the 937sqft unit. The average psf for units selling in the development is $961psf and the pricing of this unit is at $1022psf, which is slightly negotiable. <span style="background-color: yellow;">With the high floor listing of this unit, its pricing is expected to be 0.69% higher for each floor, hence the selling price of $981psf is the minimum expected. At 981psf, the selling price would be at least approximately $1,104,000. Any offer higher than $1.1m will be put forth to the owner for him to decide.</span></span></span><br />
<span style="font-family: Times, "Times New Roman", serif;"><span style="font-size: large;"><span style="background-color: yellow;"></span></span></span></div><br />
<span style="font-family: Times, "Times New Roman", serif;"><span style="font-size: large;">I hope that with this review, I had provided a good analysis of the pricing of the unit and if you have further queries for me, please feel free to contact me.</span></span><br />
<div style="text-align: justify;"><br />
</div><div align="justify"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-size: large;">Lovely Regards,<br />
<strong>Lynn ONG (王丽英)</strong></span></span></div><div align="justify"><div><span style="font-size: large;"><span style="font-family: Times, "Times New Roman", serif;">District Manager</span><br />
<span style="font-family: Times, "Times New Roman", serif;">ECG Property Novena District</span></span></div><div><span style="font-size: large;"><span style="font-family: Times, "Times New Roman", serif;">L3009759F / R014-395F</span><br />
<span style="font-family: Times, "Times New Roman", serif;">BSc. Real Estate (NUS)</span><br />
<strong><span style="font-family: Times, "Times New Roman", serif;">Mobile: <span class="skype_pnh_print_container"><span class="skype_pnh_print_container">(+65) 8479 3149</span><span class="skype_pnh_container" dir="ltr"><span style="color: #49535a;"><span class="skype_pnh_mark"> </span></span></span></span></span></strong></span></div><div><span style="font-family: Times, "Times New Roman", serif;"><span style="font-size: large;">Email: </span></span><a href="mailto:lynn.lovelyhomes@gmail.com" target="_blank"><span style="font-family: Times, "Times New Roman", serif;"><span style="color: #2288bb; font-size: large;">lynn.lovelyhomes@gmail.com</span></span></a></div><div><span style="font-family: Times, "Times New Roman", serif;"><span style="font-size: large;">Website: </span></span><a href="http://www.lynnong.net/" rel="nofollow" target="_blank"><span style="font-family: Times, "Times New Roman", serif;"><span style="color: #888888; font-size: large;">http://www.LYNNONG.net/</span></span></a></div><div><span style="font-family: Times, "Times New Roman", serif;"><span style="font-size: large;">Blog: </span></span><a href="http://www.lynnlovelyhomes.blogspot.com/"><span style="font-family: Times, "Times New Roman", serif;"><span style="color: #888888; font-size: large;">http://www.lynnlovelyhomes.blogspot.com/</span></span></a><span style="font-size: large;"><span style="font-family: Times, "Times New Roman", serif;"> </span><br />
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<div class="date-outer"></div>Lynn Onghttp://www.blogger.com/profile/16307041152518732144noreply@blogger.com0tag:blogger.com,1999:blog-3023315550256422134.post-28423216638279669622011-02-10T08:07:00.000-08:002011-08-20T08:46:20.526-07:00Engage An Agent or Not?<div style="text-align: justify;"><span style="font-family: Times,"Times New Roman",serif; font-size: large;">A follow up with a For-Sale-By-Owner Listing led to the posting of this article. </span></div><div style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgBRvoPi-PBW1Bn4TASNwOvhHup28EtFo74dscPeDR-puqbS1ihi5XoaulWLpToaKQr81qs2CWpbDzMTzR9Vkw5FEW_XGuPGmd9oJ3FEm139sNs6IEtukAYzL-tEmTZZE3km9-j0H1SrFQ/s1600/FSBO.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: Times,"Times New Roman",serif;"><img border="0" h5="true" height="251" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgBRvoPi-PBW1Bn4TASNwOvhHup28EtFo74dscPeDR-puqbS1ihi5XoaulWLpToaKQr81qs2CWpbDzMTzR9Vkw5FEW_XGuPGmd9oJ3FEm139sNs6IEtukAYzL-tEmTZZE3km9-j0H1SrFQ/s320/FSBO.jpg" width="320" /></span></a></div><div style="text-align: justify;"><span style="font-family: Times,"Times New Roman",serif; font-size: large;">Whilst some sellers might want to sell their own house in order to save the commission for the agent, the two questions to ask would be 'Is it a real saving to save the commission for engaging agents?' and 'What are the values that an agent can bring to the table for clients who engaged an agent?'.</span></div><span style="font-family: Times,"Times New Roman",serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Times,"Times New Roman",serif; font-size: large;">The real estate business is a commissioned based career based on a percentage of the sale price because there will be an incentive for the agent to work harder to earn a higher payout for the transaction. There might be some critics who will argue that the marginal increase in the selling price yields lesser returns for the agent than the sellers hence there is actually lesser incentive for agents. However, I beg to differ as it all depends on the agent's vision in this industry. </span></div><span style="font-family: Times,"Times New Roman",serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Times,"Times New Roman",serif; font-size: large;">My team-mates and I are here for GOOD and we would rather work hard for clients to get referrals in future than to bother about the marginal returns. Choose your agent. If you are paying good money for agents to serve you, choose the most qualified agent to serve you. Armed with a degree in Real Estate, I believe I will be able to serve your needs well. </span></div><span style="font-family: Times,"Times New Roman",serif;"></span><br />
<div style="text-align: justify;"><span style="font-size: large;"><b><u><span style="font-family: Times,"Times New Roman",serif; font-size: large;"><i>Real Saving from No-Commission???</i></span></u></b></span></div><div style="text-align: justify;"><span style="font-family: Times,"Times New Roman",serif; font-size: large;">Some clients might not pay the commission by self-serving, however, after being in this business, I realised that the amount that is paid to the agent is definitely justifiable if the agent is knowledgeable and resourceful. </span></div><span style="font-family: Times,"Times New Roman",serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Times,"Times New Roman",serif; font-size: large;">In life, the buying and selling of houses will probably be the biggest transaction of our lives and yet we are stingy in engaging a well-qualified agent to assist in the transaction? It is disheartening and disappointing when sellers/buyers did not have enough information on the analysis of the pricing of the unit and eventually led to getting selling below market price or paying too much above the market price. Is there really savings from the transaction then? I doubt so. </span></div><span style="font-family: Times,"Times New Roman",serif;"></span><br />
<div style="text-align: justify;"><span style="background-color: yellow; font-family: Times,"Times New Roman",serif; font-size: large;">The hardest thing to do in life is <b>NOT TO MAKE A DECISION</b> but to get <b>ENOUGH INFORMATION TO MAKE A DECISION</b>. </span></div><span style="font-family: Times,"Times New Roman",serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Times,"Times New Roman",serif; font-size: large;">What are clients paying the agent for? It is to pay the agent for his/her expertise in the Real Estate Field, his/her knowledge in the policies in Real Estate Agency Work and for his/her hard-work and marketing cost in getting a buyer for the unit. </span></div><span style="font-family: Times,"Times New Roman",serif;"></span><br />
<div style="text-align: justify;"><span style="background-color: yellow; font-family: Times,"Times New Roman",serif; font-size: large;">Value of Agent: More information to assist client to make a better decision. A good agent would have access to paid information from various mediums to assist him/her to advice his/her clients. <b><i>I had 3 paid tools to assist me in serving my clients. </i></b></span></div><span style="font-family: Times,"Times New Roman",serif;"></span><br />
<div style="text-align: justify;"><b><i><u><span style="font-family: Times,"Times New Roman",serif; font-size: large;">Marketing Exposure</span></u></i></b></div><div style="text-align: justify;"><span style="font-family: Times,"Times New Roman",serif; font-size: large;">In terms of marketing exposure, I had encountered many owners who wanted to sell their house on their own and they did not have any online marketing tools except for those that are free. </span></div><span style="font-family: Times,"Times New Roman",serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Times,"Times New Roman",serif; font-size: large;">There is a vast difference between paid property website like propertyguru and iproperty vs ST701/MOCCA/Propertyexchange. </span></div><span style="font-family: Times,"Times New Roman",serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Times,"Times New Roman",serif; font-size: large;">First, if free websites are as effective as paid websites, would agents pay for the websites to market the property that they are selling? Obviously, the answer is NO. Agents are also people who are looking for cost savings measures and if there are agents who are using paid websites and not free websites, there are definitely reasons why it is as such. </span></div><span style="font-family: Times,"Times New Roman",serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Times,"Times New Roman",serif; font-size: large;">Second, without paying for the websites to market the properties online, will there be aggressive marketing of the website on buses, taxis, billboards etc to get buyers/sellers to go to the website? The answer is NO. There is no incentive at all for the free websites hence by paying for the website, the marketing of the website will ensure that the traffic to the website will be more than those free websites.</span></div><span style="font-family: Times,"Times New Roman",serif;"></span><br />
<div style="text-align: justify;"><span style="font-family: Times,"Times New Roman",serif; font-size: large;">Third, will it make any economic sense for owners to get an account to market his own property? The answer is NO as well. To the agent who is marketing a number of properties, there would be economies of scale for him to subscribe and pay for all the websites and at the same time use all the free websites as well and that will help the seller increase the exposure and capture more buyers. By capturing more buyers, there will be a higher chance of getting a better price for the client. </span></div><span style="font-family: Times,"Times New Roman",serif;"></span><br />
<div style="text-align: justify;"><span style="font-size: large;"><span style="font-family: Times,"Times New Roman",serif;"><span style="background-color: yellow; font-size: large;">Value of Agent: Assist to increase the marketing exposure for the client to get a better price. A good agent would have access to paid websites to assist him/her to market the properties. <b><i>I had 2 paid websites to assist me in serving my clients. </i></b></span><br />
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<b><i><u>Third Party Negotiation</u></i></b><br />
Without an agent serving the owner in the sale of the house, the owner will first have to disrupt his privacy and peace by having a lot of calls from buyers and agents to enquire on his house even into the wee hours of the day. And upon some buyers/agents knowing that the owner is without an agent, it might spell some trouble for the buyer/agent as the knowledge of the owner on the property transaction is questionable and it might led to the deal being complicated, due to the lack of knowledge. <br />
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On top of the 2 points highlighted above, I think that the most important part of the whole deal is in the negotiation. By having an agent to handle the case, there is a third party involved and this will allow the owner to have more control of the situation. Some owners might get emotional in the negotiation process and lose the negotiation which in turn loses the chance to negotiate a good deal. An agent who is more experience in the art of negotiation will help a great deal as the agent will protect the interest of the client. <br />
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<span style="background-color: yellow;">Value of Agent: To use his/her experience to assist the client in the negotiation process and to be the buffer for the client so as to manage the emotions of the client. </span><br />
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<b><i><u><span style="font-size: large;">Conclusion</span></u></i></b><br />
<span style="font-size: large;">If Real Estate can be transacted by Owners without any disadvantages, the Real Estate Industry will not require any Real Estate Agents to transact the deals on behalf of Clients. If a Real Estate Transaction is a simple and fuss free process, then Real Estate Agents will not need to be regulated and there will be no requirement for Real Estate Education for the Agents. </span><br />
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<span style="font-size: large;">Hence, I do opin that the marketing of Real Estate should still be left to agents who are in the market and would be able to feel the pulse of the market better and also to use tools, that would increase marketing exposure, and help the client to get a better deal. </span><br />
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<span style="font-size: large;">If you would like to save on the commission, I would strongly suggest that you negotiate with your agent and to strike a fair deal for both parties. There are advantages for the client and there are costs for the agent and when both parties are fully aware of this, there will be lesser possibility of conflict. </span></span></span><br />
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<span style="font-size: large;"><span style="font-family: Times,"Times New Roman",serif;"><span style="font-size: large;">A video that sums up all that is needed to explain...</span></span></span><br />
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<iframe width="480" height="390" src="http://www.youtube.com/embed/-AU-5epjSDE" frameborder="0" allowfullscreen></iframe><br />
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<span style="font-size: large;"><span style="font-family: Times,"Times New Roman",serif;"><span style="font-size: large;"> </span><br />
<span style="font-size: large;">PS: I realised that even in the US, the situation is the same. Check this website out: <a href="http://medinareport.wordpress.com/2008/11/25/for-sale-by-owner-fsbo-does-it-save-you-money/">http://medinareport.wordpress.com/2008/11/25/for-sale-by-owner-fsbo-does-it-save-you-money/</a></span></span></span><br />
<div style="text-align: justify;"><span style="font-family: Times,"Times New Roman",serif;"></span></div><span style="font-size: large;"><span style="font-family: Times,"Times New Roman",serif;"><br />
Lovely Regards,<br />
<b>Lynn ONG (王丽英)</b></span></span><br />
<div style="text-align: justify;"><span style="font-family: Times,"Times New Roman",serif; font-size: large;">District Manager</span></div><div style="text-align: justify;"><span style="font-family: Times,"Times New Roman",serif; font-size: large;">ECG Property Novena District</span></div><div style="text-align: justify;"><span style="font-family: Times,"Times New Roman",serif; font-size: large;">L3009759F / R014-395F</span></div><div style="text-align: justify;"><span style="font-family: Times,"Times New Roman",serif; font-size: large;">BSc. Real Estate (NUS)</span></div><div style="text-align: justify;"><b><span style="font-size: large;"><span style="font-family: Times,"Times New Roman",serif;">Mobile: <span class="skype_pnh_print_container">(+65) 8479 3149</span><span class="skype_pnh_container" dir="ltr"><span style="color: #49535a;"><span class="skype_pnh_mark"> </span></span></span></span></span></b></div><div style="text-align: justify;"><span class="skype_pnh_container" dir="ltr"><span style="color: #49535a;"><span class="skype_pnh_mark"></span></span></span><span style="font-family: Times,"Times New Roman",serif; font-size: large;">Email: </span><a href="mailto:lynn.lovelyhomes@gmail.com" target="_blank"><span style="font-family: Times,"Times New Roman",serif; font-size: large;">lynn.lovelyhomes@gmail.com</span></a></div><div style="text-align: justify;"><span style="font-family: Times,"Times New Roman",serif; font-size: large;">Website: </span><a href="http://www.lynnong.net/" rel="nofollow" target="_blank"><span style="font-family: Times,"Times New Roman",serif; font-size: large;">http://www.LYNNONG.net/</span></a></div><div style="text-align: justify;"><span style="font-family: Times,"Times New Roman",serif; font-size: large;">Blog: </span><a href="http://www.lynnlovelyhomes.blogspot.com/"><span style="font-family: Times,"Times New Roman",serif; font-size: large;">http://www.lynnlovelyhomes.blogspot.com/</span></a><span style="font-family: Times,"Times New Roman",serif; font-size: large;"> </span></div><div style="text-align: justify;"><span style="font-family: Times,"Times New Roman",serif; font-size: large;">[Blogging on Analysis of Listings and Real Estate News]</span></div></div>Lynn Onghttp://www.blogger.com/profile/16307041152518732144noreply@blogger.com0tag:blogger.com,1999:blog-3023315550256422134.post-59389101876594256562011-02-03T04:22:00.000-08:002011-05-14T22:09:44.306-07:00Review on (D10) The Mercury - 38 Shanghai Road<strong><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Review on (D10) The Mercury - 38 Shanghai Road - Above #15 <span style="color: red; font-size: x-large;">[SOLD!!!]</span></span></strong><br />
<span style="font-family: Times, "Times New Roman", serif; font-size: large;"><br />
Basic Details of Development:</span><br />
<span style="font-family: Times, "Times New Roman", serif; font-size: large;">District 10 (Central Region)</span><br />
<span style="font-family: Times, "Times New Roman", serif; font-size: large;">Tenure: Freehold</span><br />
<span style="font-family: Times, "Times New Roman", serif; font-size: large;">Total Number of Units: 67</span><br />
<span style="font-family: Times, "Times New Roman", serif; font-size: large;">Highest Floor: #18</span><br />
<span style="font-family: Times, "Times New Roman", serif; font-size: large;">TOP: 2014</span><span style="font-family: Times, "Times New Roman", serif;"><br />
<span style="font-size: large;"></span></span><br />
<div style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">This unit is priced to sell by the seller. The unit that I am marketing is a 1 bedroom + 1 study unit of size 635sqft. The price expected by the seller is in excess of $980,000. Whilst I had a few enquiries on this unit, buyers often felt that the price is too high. I beg to differ, though. </span></div><span style="font-size: large;"></span><span style="font-family: Times, "Times New Roman", serif;"></span><span style="font-size: large;"></span><br />
<div style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">The most recent transaction for the development is in September 2010 and the transaction price is $905k for the 635sqft unit. For me, as real estate consultant, I do not dictate the pricing and the sellers will be the price listers and we will market according to the price given by the seller. The price that the seller is intending to sell is indeed $980k and I,as marketing agent of the unit will put up any offer made by buyers. </span></div><span style="font-size: large;"></span><span style="font-family: Times, "Times New Roman", serif;"></span><span style="font-size: large;"></span><br />
<div style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Over the last quarter, price increased 2.7%, according to URA data, and this will translate to a pricing of $1463psf for the unit. The pricing for this unit is current $1,543psf and the difference with expected selling price is $80psf. This pricing is still pretty reasonable due to the height of the selling unit vs the unit that transacted in Sept. The selling unit is above #15 vs the transacted unit of #07. For every level increase, there is a premium and for this instance, the premium is approximnately $10psf/level. </span></div><span style="font-size: large;"></span><span style="font-family: Times, "Times New Roman", serif;"></span><span style="font-size: large;"></span><br />
<div style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Whilst some buyers opined that the impact of the Govt measures will dampen the prices in the private market, it is my personal opinion that it is still very much unpredictable as genuine buyers will come back into the market. It is everybody's guess on the direction that the private property market is heading towards. If this unit is opined to be too highly priced, I would like to help you to scout for other units that you might be interested in. Below is the floor plan of the unit that I am marketing.</span></div><span style="font-family: Times, "Times New Roman", serif;"><br />
<span style="font-size: large;"></span></span><br />
<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjcPWSnuyZFaXoLJGfHQanN9YEwxqkqiatFYnNnw1-fGcHMWJiLyJPY_Y363zmtVIXJpSfxkUMxP_3tfA26ijJ3kXvh-M9cAALyOFPBEMNB0iK6DLRfAhnz28jD5s6Sg9F9yYtzvBs7cV0/s1600/The+Mercury-Type-B1.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;"><img border="0" height="320" s5="true" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjcPWSnuyZFaXoLJGfHQanN9YEwxqkqiatFYnNnw1-fGcHMWJiLyJPY_Y363zmtVIXJpSfxkUMxP_3tfA26ijJ3kXvh-M9cAALyOFPBEMNB0iK6DLRfAhnz28jD5s6Sg9F9yYtzvBs7cV0/s320/The+Mercury-Type-B1.jpg" width="239" /></span></a></div><div align="center"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Photo 1: Floor Plan of Unit (Source: Singapore Expat)</span></div><div align="center"><span style="font-family: Times, "Times New Roman", serif;"><br />
<span style="font-size: large;"></span></span></div><div style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">I hope that with this review, I had provided a good analysis of the pricing of the unit and if you have further queries for me, please feel free to contact me.</span></div><div align="justify"><span style="font-family: Times, "Times New Roman", serif; font-size: large;"></span></div><div align="justify"><div style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-size: large;">Lovely Regards,<br />
<strong>Lynn ONG (王丽英)</strong></span></span></div><div><span style="font-family: Times, "Times New Roman", serif; font-size: large;">District Manager</span><br />
<span style="font-family: Times, "Times New Roman", serif; font-size: large;">ECG Property Novena District</span></div><div><span style="font-family: Times, "Times New Roman", serif; font-size: large;">L3009759F / R014-395F</span><br />
<span style="font-family: Times, "Times New Roman", serif; font-size: large;">BSc. Real Estate (NUS)</span><br />
<strong><span style="font-family: Times, "Times New Roman", serif;"><span style="font-size: large;">Mobile: <span class="skype_pnh_print_container">(+65) 8479 3149</span><span class="skype_pnh_container" dir="ltr"><span style="color: #49535a;"><span class="skype_pnh_mark"> </span></span></span></span></span></strong></div><div><span class="skype_pnh_container" dir="ltr"><span style="color: #49535a;"><span class="skype_pnh_mark"></span></span></span><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Email: </span><a href="mailto:lynn.lovelyhomes@gmail.com" target="_blank"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">lynn.lovelyhomes@gmail.com</span></a></div><div><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Website: </span><a href="http://www.lynnong.net/" rel="nofollow" target="_blank"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">http://www.LYNNONG.net/</span></a></div><div><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Blog: </span><a href="http://www.lynnlovelyhomes.blogspot.com/"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">http://www.lynnlovelyhomes.blogspot.com/</span></a><span style="font-family: Times, "Times New Roman", serif; font-size: large;"> </span><br />
<span style="font-family: Times, "Times New Roman", serif; font-size: large;">[Blogging on Analysis of Listings and Real Estate News]</span></div></div>Lynn Onghttp://www.blogger.com/profile/16307041152518732144noreply@blogger.com0tag:blogger.com,1999:blog-3023315550256422134.post-17817844532988736222011-02-02T07:34:00.000-08:002011-02-03T04:26:13.613-08:00Restoring Sanity to Property Prices - Commentary on TODAY's Article dated 21 Jan 2011<div style="text-align: justify;"><span style="font-size: large;"></span></div><div style="text-align: justify;"><span style="font-size: large;"></span></div><span style="font-size: large;"></span><br />
<div style="text-align: justify;"><span style="font-size: large;"><span style="font-family: Times, "Times New Roman", serif;">As a graduate from NUS, majoring in Real Estate, this is a piece of news that had shaken my world because the art of valuation is the rice bowl of Real Estate Graduates and now it is a point of contention in the business world. </span><span style="font-family: Times, "Times New Roman", serif;">We had heard it many times over on why we need to be ethical and professional in doing valuation but it seems like the business world thinks otherwise. </span></span></div><div style="text-align: justify;"><span style="font-size: large;"><br />
</span></div><div style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">What is wrong? What is fundamentally wrong with the recent transactions in the market? Do the premium of ‘newness’ and ‘years left from lease’ carry so much weight? Does the average buyers know what are they getting into? </span></div><div style="text-align: justify;"><span style="font-size: large;"><br />
</span></div><div style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">It is my personal opinion that a buyer will need to do his homework and ask himself if the premium to pay for a new development is worth that much. If it is, what is the basis for the premium in the 1st place? </span></div><div style="text-align: justify;"><span style="font-size: large;"><br />
</span></div><div style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">For a home-buyer, does owning a unit in Caspian make any difference to his lifestyle or does it add any utility as compared to owning a unit in Lakefront Residences? For an investor, will Lakefront Residences have a higher rental yield that Caspian since the location / proximity of the MRT is negligible? Will a tenant take into consideration the lakeview or the ‘newness’ of the project into consideration when renting a unit? Will the name/reputation of the developer make a difference to the tenant as well? </span></div><div style="text-align: justify;"><b><span style="font-family: Times, "Times New Roman", serif;"><br />
<span style="font-size: large;">Doesn’t this sounds like sub-prime in disguise? </span></span></b></div><div style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif;"><br />
<span style="font-size: large;">I believe by asking such questions, it will be pretty clear that those who had bought a unit in a development, with comparables selling at a lower price, would probably face resistance from the market in time to come when they are going to sell the property or even to rent the property. Consumers will always be price sensitive. </span></span></div><div style="text-align: justify;"><span style="font-size: large;"><br />
</span></div><div style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Real estate is unique. Real estate is different from most other products. Real estate, no matter how unique, will still be subjected to the forces of the market. Location is one important consideration for Real Estate but when the consideration of location is negligible, price will be the overpowering consideration. </span></div><div style="text-align: justify;"><span style="font-size: large;"><br />
</span></div><div style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">The art of valuation should be reviewed and valuation firms should not be at the beck and call of their clients. Many horror stories were shared where valuers were told what the value of the property is and then justify the values subsequently. Is that right? What are the consequences of doing this repeatedly? </span></div><div style="text-align: justify;"><span style="font-size: large;"><br />
</span></div><div style="text-align: justify;"><span style="font-size: large;"></span></div><div style="text-align: justify;"><b><span style="font-family: Times, "Times New Roman", serif; font-size: large;">The good thing about Singapore is that the loan-to-value (LTV) is providing a good buffer for drop in valuation where it could trigger a meltdown if banks were to keep foreclosing properties that had their values falling below the loan outstanding. </span></b></div><div style="text-align: justify;"><div style="text-align: justify;"><span style="font-size: large;"><br />
</span></div><div style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;"><strong>Who won? The DEVELOPERS. Congratulations! </strong></span></div><div style="text-align: justify;"><span style="font-size: large;"><br />
</span></div><div class="separator" style="clear: both; text-align: center;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;"></span></div><div style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif;"><span style="font-size: large;">Lovely Regards,<br />
<strong>Lynn ONG (王丽英)</strong></span></span></div><div><span style="font-family: Times, "Times New Roman", serif; font-size: large;">District Manager</span><br />
<span style="font-family: Times, "Times New Roman", serif; font-size: large;">ECG Property Novena District</span></div><div><span style="font-family: Times, "Times New Roman", serif; font-size: large;">L3009759F / R014-395F</span><br />
<span style="font-family: Times, "Times New Roman", serif; font-size: large;">BSc. Real Estate (NUS)</span><br />
<strong><span style="font-family: Times, "Times New Roman", serif;"><span style="font-size: large;">Mobile: <span class="skype_pnh_print_container">(+65) 8479 3149</span><span class="skype_pnh_container" dir="ltr"><span style="color: #49535a;"><span class="skype_pnh_mark"> </span></span></span></span></span></strong></div><div><span class="skype_pnh_container" dir="ltr"><span style="color: #49535a;"><span class="skype_pnh_mark"></span></span></span><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Email: </span><a href="mailto:lynn.lovelyhomes@gmail.com" target="_blank"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">lynn.lovelyhomes@gmail.com</span></a></div><div><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Website: </span><a href="http://www.lynnong.net/" rel="nofollow" target="_blank"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">http://www.LYNNONG.net/</span></a></div><div><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Blog: </span><a href="http://www.lynnlovelyhomes.blogspot.com/"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">http://www.lynnlovelyhomes.blogspot.com/</span></a><span style="font-family: Times, "Times New Roman", serif; font-size: large;"> </span><br />
<span style="font-family: Times, "Times New Roman", serif; font-size: large;">[Blogging on Analysis of Listings and Real Estate News]</span><br />
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<div style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">Original Article can be retrieved from </span><a href="http://www.todayonline.com/Commentary/EDC110121-0000201/Restoring-sanity-to-property-prices"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">http://www.todayonline.com/Commentary/EDC110121-0000201/Restoring-sanity-to-property-prices</span></a><span style="font-family: Times, "Times New Roman", serif; font-size: large;"> accessed on 2nd Feb 2011. </span></div><div style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif;"><br />
<span style="font-size: large;"></span></span></div><div style="text-align: justify;"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">If you need a copy of the article, you can email me @ </span><a href="mailto:lynn.lovelyhomes@gmail.com"><span style="font-family: Times, "Times New Roman", serif; font-size: large;">lynn.lovelyhomes@gmail.com</span></a><span style="font-family: Times, "Times New Roman", serif; font-size: large;">. Thanks! </span></div></div></div>Lynn Onghttp://www.blogger.com/profile/16307041152518732144noreply@blogger.com0