S'pore home prices still falling

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#61
http://www.straitstimes.com/business/pro...et-to-soar

Ouch and thats why ppl are lobbying for removals. Nouvel 18 seems to be a big burden and can potentially rise to 100 mil in penalty over 3 years. Cant they do a hiap hoe and transfer it to a subsidiary?

In terms of potential penalty to market cap, Sing holdings and Heeton seems to be the worst hit
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#62
I just took a look at the Straits TImes link and notice CDL and Wing Tai Nouvel still left with all 156 units unsold. I look up Property Guru and notice only 1 unit advertising for sale. How come only 1 unit advertise for sale when it was reported that all 156 units are not sold yet?
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#63
(04-03-2016, 01:10 AM)CY09 Wrote: http://www.straitstimes.com/business/pro...et-to-soar

Ouch and thats why ppl are lobbying for removals. Nouvel 18 seems to be a big burden and can potentially rise to 100 mil in penalty over  3 years. Cant they do a hiap hoe and transfer it to a subsidiary?

In terms of potential penalty to market cap, Sing holdings and Heeton seems to be the worst hit

This is nothing new. They have already seen it coming and thats why SC global was privatised years back. I don't see why the govt should be concern about the developers when they are reaping what is foreseeable.

My view remains the same. When prices are creeping down the developers get so much airtime. When prices were soaring just 2 years back the thousands suffer with little airtime. Property is a necessary roof over the head and a factor / cost of production. It is amazing why governments even allow unbridled speculations in the disguise of free market.
Before you speak, listen. Before you write, think. Before you spend, earn. Before you invest, investigate. Before you criticize, wait. Before you pray, forgive. Before you quit, try. Before you retire, save. Before you die, give. –William A. Ward

Think Asset-Business-Structure (ABS)
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#64
(04-03-2016, 06:57 AM)Bibi Wrote: I just took a look at the Straits TImes link and notice CDL and Wing Tai Nouvel still left with all 156 units unsold. I look up Property Guru and notice only 1 unit advertising for sale. How come only 1 unit advertise for sale when it was reported that all 156 units are not sold yet?

this could be a case where the developer is trying to sell the whole block instead of individual units. OUE for example is trying to move all those sold on to 1 block and sell the unsold block as 1 block for the Twin Peaks.
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#65
From URA's data, none of Nouvel 18's unit has been sold. Between what is presented at property guru and URA, i believe URA is a more trustworthy source
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#66
(04-03-2016, 10:59 AM)CY09 Wrote: From URA's data, none of Nouvel 18's unit has been sold. Between what is presented at property guru and URA, i believe URA is a more trustworthy source

I thought Nouvel 18 penthouse was sold last year.  The rookie agent was featured earning million $$ commission. Or have i mistaken?
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#67
That's le nouvel, not nouvel 18
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#68
indeed the trend now, friends around me are switching to condos, and more foreigners are converting to PRs and buying their own resale HDBs

http://www.channelnewsasia.com/news/sing...86118.html

More Singaporeans living in condos, fewer driving cars: National household survey

According to a survey conducted by the Department of Statistics, more than half of Singapore’s resident working population commuted to work by public transportation last year.
Posted 09 Mar 2016 12:19
Updated 09 Mar 2016 13:17

SINGAPORE: More Singaporeans are living in condominiums and more are relying on public transport instead of cars to commute to work, according to the latest national household survey by the Department of Statistics (Singstat) released on Wednesday (Mar 9).

The proportion of resident households living in condominiums and other apartments rose to 13.9 per cent last year, up from 11.5 per cent in 2010, the survey found.

Four-room flats remained the most common house type, with 32 per cent of households living in them. The next most common was five-room and executive flats, with 24.1 per cent, followed by three-room flats with 18.2 per cent.

The survey also found that most households owned the houses they lived in. Home ownership among resident households rose to 90.8 per cent in 2015, up from 87.2 per cent in 2010.

More than half of Singapore’s resident working population commuted to work by public bus or the MRT in 2015, Singstat said. In particular, the proportion commuting to work by MRT with a transfer to/from public bus increased to 24.8 per cent last year from 17.6 per cent in 2010.

Conversely, those who used cars as the only mode of transport to work decreased to 21.9 per cent from 24.8 per cent over the same 5-year period.

The shift towards the use of MRT with a transfer to/from public bus was also observed among resident students attending higher education institutions, Singstat said.

Reflecting the close proximity of the schools to their homes, 44.7 per cent of pre-primary and primary school students did not need to take any transport to school in 2015, although this was lower than the 46.2 per cent in 2010.

MORE SINGLES, MORE ELDERLY

The proportion of singles among residents aged 25 to 29 years rose to 80.2 per cent for males last year, up from 74.6 per cent in 2010, while the proportion for females rose to 63 per cent from 54 per cent.

The proportion of singles among those aged 30 years and above remained stable, Singstat said.

The survey also found that the majority of women aged between 40 and 49 years and who are married or had been had at least two children. Two-thirds of women in this group had two or more children, although the proportion who were childless or had one child increased slightly. Overall, the average number of children born to women in this group declined to 1.85 in 2015 from 2.02 in 2010.

With an ageing population, the proportion of resident households with at least one resident aged 65 years and over increased to 29.1 per cent last year from 24.1 per cent in 2010. Among residents aged 65 years and over in resident households, 61.3 per cent lived with their children in 2015, down from 66.7 per cent in 2010.

The religious profile of Singaporeans remained diverse, the survey found. Among residents aged 15 years and over in 2015, 43.2 per cent identified themselves as Buddhists or Taoists, 18.8 per cent as Christians, 14 per cent as Muslims and 5 per cent as Hindus. Another 18.5 per cent of residents had no religious affiliation in 2015, an increase from the 17 per cent in 2010.

MORE EDUCATED, MORE SPEAKING ENGLISH

Singaporeans are also more educated now than five years ago. Among the resident non-student population aged 25 years and over, 52 per cent possessed post-secondary qualifications in 2015, up from 46.5 per cent in 2010.

The literacy rate among the resident population was high, at close to 97 per cent in 2015. The proportion of residents literate in two or more languages increased. Among literate residents aged 15 and over, 73.2 per cent were able to read in two or more languages in 2015, an increase from the 70.5 per cent in 2010.

English was the most frequently spoken language at home for 36.9 per cent of residents in 2015, up from 32.3 per cent in 2010, according to the survey.

As of end-June 2015, Singapore’s resident population was 3.90 million, Singstat said. A total of 33,000 households were selected for the survey, with response from 27,804 households.
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#69
I am more worried of the ageing trend.

Using a story: Two only child have received their 4 room BTO flat and thus decide to officially tie the knot in 2016 as their parents reach their age of 55. In 2046, unfortunately both husband and wife's family has passed on, bequeathing their HDB flats to their only child. Now the s*** happens. The family now have 3 HDB flats but HDB rules dictate they can only have 1 flat and offloading it will be difficult because there is little new Singaporeans to sell their flats. With a lesser population to take over the homes of a larger group of elderly when they pass on, it is a classic situation of too many sellers and too little buyers. Who knows by then BTO may not be needed Smile

A bit off topic but that statement :"the average number of children born to women in this group declined to 1.85 in 2015 from 2.02 in 2010." triggered alarm bells in my head. This may lead to the eventual collapse of home prices unless we play the "import the foreigner game". So much for being asset rich and cash poor; while hoping you can pass your house to your children as a gift
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#70
(09-03-2016, 08:09 PM)CY09 Wrote: I am more worried of the ageing trend.

Using a story: Two only child have received their 4 room BTO flat and thus decide to officially tie the knot in 2016 as their parents reach their age of 55. In 2046, unfortunately both husband and wife's family has passed on, bequeathing their HDB flats to their only child. Now the s*** happens. The family now have 3 HDB flats but HDB rules dictate they can only have 1 flat and offloading it will be difficult because there is little new Singaporeans to sell their flats. With a lesser population to take over the homes of a larger group of elderly when they pass on, it is a classic situation of too many sellers and too little buyers. Who knows by then BTO may not be needed Smile

A bit off topic but that statement :"the average number of children born to women in this group declined to 1.85 in 2015 from 2.02 in 2010." triggered alarm bells in my head. This may lead to the eventual collapse of home prices unless we play the "import the foreigner game". So much for being asset rich and cash poor; while hoping you can pass your house to your children as a gift

I thought HDB will give them a deadline to sell their extra hdb flats. If they unable to, then HDB will buy back from them at valuation?
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