Property Market Sentiments

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CapitaLand buys hyperscale data centre campus in China for RMB3.7 bil

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Colliers makes key appointments in Asia

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Ikea opens new store in Jem, focuses on e-commerce

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Biomimicry: When nature and tech work together

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Cloud kitchen units at CT Hub 2 available for sale

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Industrial properties back in play

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Build-to-Order (BTO) exercise in February 2022 has overwhelming of oversubscribing for 3,953 new units with 24,748 applicants vying for them translating to an application rate of 6.3 times which is far higher than the 4.4 times achieved in November’s exercise where 4,501 new flats were launched.

The “star performer” in this February 2022 sales launch of BTO was Dakota Crest in Geylang which garnered 7,712 applications for only limited 443 available flats translating to 17.4 application rate.

The applications for the 4-room flats in Dakota Crest which has in total applications of 6,294 for a mere total of 242 flats and this make up a quarter of the overall number of applicants in February’s BTO exercise.

There is a possibility of those who had missed out in selecting a flat during Dakota’s August 2020 BTO exercise may have submitted reapplication again, thereby contributing intense competition in February.

Dakota Crest location is excellent being minutes' drive to the Central Business District and its close proximity to MRT stations with plentiful amenities in the area.

Trailing just behind Dakota Crest is King George’s Heights at Kallang Whampoa which is a prime location housing (PLH) project and has garnered 5,305 applications for its 398 available units.  This translates to a subscription rate of 13.3 times.

In terms of 4-room flat applications, the PLH project posted an application rate of 16.0 with 4,704 individuals vying for 294 units.

Will the repeated failures of these applicants help to swing them to other new launch condo projects such as Sceneca Residence in Tanah Merah locale and The Arden along Pheonix Road?
Interesting, I delve into the stats deeper. One thing i notice is that for the non mature estate's couples ratio, it is elevated in the ratio of 3.5 to 4.0. This means the ratio is close to 4 to 1, making it the worst ratio I have witnessed since tracking it in 2015.

It does mean a lot of couples are being turned off from going into resale or they are more couples getting engaged (the latter does not seem to be ground reality) If i were to speculate this is because the resale market is too expensive. I don't find this good because it puts off family planning and procreation as BTO takes time to build which lowers the number of core citizens. The government is trying to stem this by naturalizing citizens which perpetuates the housing problem.

The singles ratio is also at its worst with a ratio of 14 to 1. Do note the Yishun estate is not a prime location but is located at the fringes of Yishun next to forested land.
Building and Construction Authority (BCA) and Urban Redevelopment Authority (URA), in a joint release issued on 24 November, had revealed that the Built Environment Transformation Gross Floor Area Incentive

Scheme applies to development proposals from 24 November 2021 to 23 November 2026 with coverage ranging from residential, commercial, industrial, institution and mixed-use developments with the private sites having a Gross Floor Area equal or greater than 5,000 sqm.

The scheme is also applicable to Government Land Sales site which has been launched until the second quarter of 2022 and as such all the applicants will enjoy up to 2% bonus of additional Gross Floor Area.

After Q2 2022, the minimum requirements for Gross Land Sales sites will be increased having into considerations of productivity, digitalisation and sustainability.
Any proposal that has obtained planning permission but have not started infrastructure works may also be eligible for the scheme subjected to authority approval.

Successful applicants needed to make any amendment or fresh submission to URA for planning permission which have to include the additional bonus Gross Floor Area in the development proposal.
Wow, work hard and able to own properties with property taxes abt $15k for 2021 ! Even if we assume loan was taken, her income shd be very high.

Referring to the property tax table below, I would think this amt of property taxes (albeit one is non-owner-occupier) mean high-end properties, perhaps even landed ???

Meanwhile, bear can only continue dreaming of owning multiple properties in the metaverse .....


Property investment dreams dashed? How the property tax hike may affect investors
" .... After all, the median annual value of non-landed private homes, excluding executive condominiums, was a “modest” S$22,000 in 2020 – a category that most investment properties in Singapore fall under, said Knight Frank’s Mr Chung ......

...... The 58-year-old who works in the electronics industry said she came from “a very poor family” and worked hard to reach a higher income – enough to own two properties, of which one is tenanted....... At the moment, Mary pays about S$1,200 in property taxes a month, which adds up to about S$15,000 of property tax for 2021, she told CNA.......

..... On the other hand, another owner who only wanted to be known as Li Fen told CNA that the tax increase is “still doable”.

“It’s definitely a pain, it’ll definitely hit your pocket, but only because we see it as over S$1,000, almost S$2,000. But if you divide it up monthly, it is a couple of hundred dollars. So I think it’s still doable,” said the 44-year-old owner of two tenanted properties......."


Would you pay $1 Million for a HDB flat? | Mothership Hits the Streets

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