Sing Holdings

[safetyfirst]

Anyway, it is not that people dont want to buy, it is the policy makers who are not thinking through the correct lens. They cap eligibility for EC at 12k monthly income, so they expect people to take up a small loan, yet the quantum price for a 4 room EC would easily exceed 1m, how many people have so much cash?

I feel it is the developers who are at fault. They are aware of this problem but they 1) do not fully utilise the flat max ratio, 2) bid highly psf despite fully aware of ec limitations

Agree with CY09... that's the point... policy makers are looking through the corerct lens... it's just that the developers want the policy makers to look through their own lens

To specuvestor, well i guess you have a point, i am the one looking through the wrong lens

To CY09, i think the implementation of MSR of 30% came after singholdings tendered for the land at punggol. It seems like they have to continue to build the large 4 room units whether they like it or not.

... but nothing is permanent, the day when the policy makers relax the MSR of 30% to 40/50%, the 4 room units will move very quickly. 800psf for a condo (albeit after 10 years) is damn cheap! Currently i stay in the north, together with quite a few relatives, so the disadvantages of moving are quite high. If i happen to stay near punggol, i would have whacked one of the 4 room units at waterwoods

[chialc88]

It's very difficult to imagine the MSR goes up to 40 or 50%.

It's simply not prudence.

The current TDSR @ 60% is a joke and the minister knows it.

There is only one way for the TDSR.

Trust me.

LC


yesterday enemy has become tomorrow friend

[safetyfirst]

Anyway, it is not that people dont want to buy, it is the policy makers who are not thinking through the correct lens. They cap eligibility for EC at 12k monthly income, so they expect people to take up a small loan, yet the quantum price for a 4 room EC would easily exceed 1m, how many people have so much cash?

I feel it is the developers who are at fault. They are aware of this problem but they 1) do not fully utilise the flat max ratio, 2) bid highly psf despite fully aware of ec limitations

Agree with CY09... that's the point... policy makers are looking through the corerct lens... it's just that the developers want the policy makers to look through their own lens

Damage already done and let's see how Boss Lee is going to salvage the situation.

With Waterwoods as a joint venture, coupled with the fact that it is more than 50% sold, it will do fine. At worse, it can still break even. The sales of Robin Residences is the more important factor that determines the rise or fall of SingHoldings's intrinisic value

[kbl]

Good morning everyone.

1 more 3bd sold. 211 units sold left 162 units. Hard time for the company to sell the 4bd and 5bd units. I am waiting for the 2Q results and the launch of Robin Residences.
http://www.propertyguru.com.sg/search?q=...rch_select=

[desmondxyz]

Good morning everyone.

1 more 3bd sold. 211 units sold left 162 units. Hard time for the company to sell the 4bd and 5bd units. I am waiting for the 2Q results and the launch of Robin Residences.
http://www.propertyguru.com.sg/search?q=...rch_select=

With current market sentiment, will Robin Residence do good? I doubt so... Unless boss Lee gives a good discount, like what Coco palms did...

[kbl]

hello Desmondxyz san,

Let see. I think the selling pts are the 250m to Stevens MRT Station and the 2 pri schools

SINGAPORE CHINESE GIRLS' PRIMARY SCHOOL
Distance: 0.31 km
ANGLO-CHINESE SCHOOL (PRIMARY)
Distance: 0.87 km

<vested><not a call to buy or sell>

[CY09]

My own calculations is that pricing the units at 2.1million is the optimum price. Any higher and they are targetting couples who have cash rich parents backing

[specuvestor]

^^ That observation is also the reason why chinese city properties can be so expensive. Couple plus 4 old people supporting, an unintended consequence of single child policy. But I digress....

[CY09]

I did a quick recalculation under the new MSR ceiling etc. Here are a few interesting stats for families earning 12k and intend to buy an EC flat.

If they can obtain a 80% bank loan at 30% MSR and 30 yr tenure, the family can only purchase a $1.005M flat. This is the magic number future EC projects have to price themselves in order to move units quickly. For a 11k monthly household, the magic number is approx $922,000

What does this mean for Sing Holding?
Its 5 bedroom flats are of 1636 sq ft. Using the above stats, they can only price the units at $614 psf
While 4 bedroom flats can be sold for at most $785 psf.

The only way many households can afford their EC flats now is to have cash-rich parents money to plonk more down payment or they themselves have enough cash/cpf to pay more than the 20% down payment and misc fees.

Skypark residence is also in this predicament.

Looking forward to the day I can buy a Skypark residence (1658 sq ft) or waterwoods unit (1636 sq ft) for $1M

<Still vested, just bored and decided to do analysis>

[pianist]

I did a quick recalculation under the new MSR ceiling etc. Here are a few interesting stats for families earning 12k and intend to buy an EC flat.

If they can obtain a 80% bank loan at 30% MSR and 30 yr tenure, the family can only purchase a $1.005M flat. This is the magic number future EC projects have to price themselves in order to move units quickly. For a 11k monthly household, the magic number is approx $922,000

What does this mean for Sing Holding?
Its 5 bedroom flats are of 1636 sq ft. Using the above stats, they can only price the units at $614 psf
While 4 bedroom flats can be sold for at most $785 psf.

The only way many households can afford their EC flats now is to have cash-rich parents money to plonk more down payment or they themselves have enough cash/cpf to pay more than the 20% down payment and misc fees.

Skypark residence is also in this predicament.

Looking forward to the day I can buy a Skypark residence (1658 sq ft) or waterwoods unit (1636 sq ft) for $1M

<Still vested, just bored and decided to do analysis>

just across waterwoods on the other side of the tpe, are these many newly built flats block 180+-, I just learnt that they comprise mainly 1 or 2 room rental flats for the poorer rungs...I wonder how this may affect image of waterwoods?