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Post by oldman on Nov 12, 2013 19:31:11 GMT 7
Interesting comment on the property market in Top Global's 3rd quarter report released today. infopub.sgx.com/FileOpen/TopGlobal.Results.AnnouncementQ3FY2013.12Nov2013.ashx?App=Announcement&FileID=263764A commentary at the date of the announcement of the significant trends and competitive conditions of the industry in which the group operates and any known factors or events that may affect the group in the next reporting period and the next 12 months.
Many predicted that Singapore home prices may fall 20% by 2015 due to oversupply and various curbs imposed by our Government to cool off property market. Meanwhile, it was reported that Hong Kong home prices will fall as much as 25 percent from their peak as housing supply increases and the possibility of rising interest rates grows, according to Bank of America Corp.’s Merrill Lynch unit. Over in Indonesia, in order to avert a potential bubble in the hottest property market in Asia, Bank Indonesia (the central bank of Indonesia) had further tighten its monetary policy in the sector recently by raising the minimum down payment requirement on housing loans to 30 percent for first home ownership amongst other measures. Just as other governments in the region are busy correcting their housing market conditions via stricter policy and control in land use, increase in taxes and tightening of credit etc, our neighbour country, Malaysia, also announced various measures via their 2014 Budget recently. Among others, there will be 30% real property gain tax (RPGT) for disposal of property within the first three years. For disposals within the holding period up to four and five years, the rates are increased to 20 percent and 15 percent respectively. The Malaysia 2014 Budget saw significant changes made to property purchases by foreigners where foreigners are only eligible to purchase property at the minimum price of RM1 million (S$394,340) from the previous RM500,000 (S$199,230). Although all that are happening seem to pose some deterrence over our growth plans, it may not be a bad thing after all as players are more cautious while market prices are making the corrections, which is healthy for the sector in the long run. Very importantly, it is not just happening to Singapore market but across the region. The slowdown provides more breathing space for repositioning and redefining growth directions although it is inevitable that the Group may have to bite the bullet in the transition. |
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Post by me200 on Nov 16, 2013 21:50:01 GMT 7
There are >20 advertisement (some even full page) on today NST. The way I see is that developers are rushing to push their properties into the market for fear that the property market is at the tipping point. Some developers have started to offer 5-15% discount price (base on the marketing emails send to me). So, watch out for bargain property in 2014/15.   |
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Post by om on Nov 16, 2013 22:38:12 GMT 7
Not sure about 2014/15 cause quite a number of people are saying that including property agents. Thought a corrections come at surprise not when people has prepared for it.
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Post by me200 on Nov 16, 2013 22:56:24 GMT 7
Not sure about 2014/15 cause quite a number of people are saying that including property agents. Thought a corrections come at surprise not when people has prepared for it. Yes, 2014/15 is agak-agak only. Property is a big ticket item, IMO, it won't come at surprise: 1. There are a lot of new properties in the pipe line. 2. Foreign influx drop 3. Govt cooling measure 4. Many properties TOP in next 2-3 years. 5. Higher interest? (likely won't happen as FED will hold it till 2015) |
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Post by oldman on Nov 17, 2013 6:10:31 GMT 7
Not sure about 2014/15 cause quite a number of people are saying that including property agents. Thought a corrections come at surprise not when people has prepared for it. OM, welcome to our forums. You are right. Property corrections usually happen when most people are not prepared for it. Many of us have been proven wrong as we have been talking about a property correction for years.... me included. Goes to show that a party will continue longer than anyone of us expects. Recently, I saw adverts around my area selling properties at $1,500 psf. When I asked a few property agents, they tell me that it is only wishful thinking as they find it difficult to shift their existing properties even at $1,000 psf. Guess asking price is not the same as transaction price. |
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Post by oldman on Nov 17, 2013 6:13:20 GMT 7
There are >20 advertisement (some even full page) on today NST. The way I see is that developers are rushing to push their properties into the market for fear that the property market is at the tipping point. Some developers have started to offer 5-15% discount price (base on the marketing emails send to me). So, watch out for bargain property in 2014/15. Me200, my mailbox is full of property advertisements. Someone should create a chart showing number of property advertisements in Straits Times and the property price index at that time! I always chuckle when I see one that says that it is a personal invitation to VIP customers when it is just a mailer with no address printed on it. |
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Post by oldman on Nov 19, 2013 5:04:08 GMT 7
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Post by stevenlsf on Nov 19, 2013 20:01:01 GMT 7
yes I am starting to receive such VIP view only by SMS and sometimes by "whatapp" which I don't understand how they got my account. Looks like this social media will soon like SMS and email getting full of junks.
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Post by puregold on Nov 19, 2013 21:09:55 GMT 7
So long as they have your mobile numbers, they can WhatsApp you.
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Post by oldman on Nov 20, 2013 5:25:02 GMT 7
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Post by candy188 on Nov 20, 2013 10:18:41 GMT 7
Jakobsen likened the Asian housing bubble to that experienced by the U.S. prior to the sub-prime crisis, and said that a similar collapse loomed for Asia when the Fed started tapering — which he forecast would be "very soon". "The reason why money flows into real estate is that people are increasingly speculating that it will go ever higher,
NOT dissimilar to what we saw in the early part of the Crisis in the U.S., and then all through the 2000s.
I think we are REPEATING the Same Mistakes," he said.  |
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Post by candy188 on Nov 28, 2013 14:07:54 GMT 7
David Beckham to make property debut in Singapore
Integrated resorts developer Las Vegas Sands has announced that it's joining forces with former football superstar David Beckham's company Beckham Ventures, to develop resort properties in Singapore and Macao.
This partnership will see the development of retail, leisure and dining concepts at Marina Bay Sands Singapore and Sands China properties in Macao. He joins a list of Western celebrities keen to make their mark at Marina Bay Sands. The Singapore landmark already boasts various celebrity and Michelin-starred restaurants by Wolfgang Puck, Daniel Boulud, Mario Batali and Guy Savoy.
sg.finance.yahoo.com/news/david-beckham-property-debut-singapore-043928567--sector.html
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Post by me200 on Nov 29, 2013 8:56:23 GMT 7
In SG, CDL chief also mentioned that the land price has escalated to a tipping point.  Thursday, 28 November 2013 22:36 HK's Li Ka-shing says property sales the WORST in 13 yearsHONG KONG - Asia's richest man, Li Ka-shing, says his business has suffered its worst year in more than a decade as measures to cool one of the world's most expensive real estate markets take their toll on Hong Kong's powerful developers. "We only recorded about HK$4 billion ($$648 million) of property sales for the entire year, merely 15 per cent of the total sales in between HK$26 billion to HK$27 billion during the past two years," Mr Li told the Guangzhou-based Southern Metropolis Daily in an interview published on Thursday. The billionaire octogenarian, who owns property company Cheung Kong (Holdings) and ports-to-telecoms conglomerate Hutchison Whampoa also sounded a note of caution over soaring land prices in Hong Kong and mainland China. " Land prices are high in Hong Kong, and (we) have seen an unhealthy trend. Land prices in the mainland are soaring as well and we can't win the bids either," he added. Mr Li has sold three major real estate assets in China so far this year, with the recently announced sale of an office project in Shanghai for US$1.16 billion, sparking speculation that he is retreating from the mainland property market. In Hong Kong, the city's developers have been forced to offer steep discounts to offset higher stamp duties imposed a year ago to cool prices that have jumped 120 per cent since 2008. Cheung Kong, the city's second-largest property company by market value, had achieved just 15 per cent of its Hong Kong contracted sales target of HK$30 billion with less than two months before the end of the year, Credit Suisse property analyst Ms Joyce Kwock said in a recent note. Major rival Sun Hung Kais Properties in September posted a 14 per cent fall in full-year underlying profit for 2013, lagging forecasts and marking its first drop in annual earnings due to slow sales in Hong Kong. Deutsche Bank forecast last month that Hong Kong home prices could drop up to 50 per cent in the next 12 months, while Barclays said the market will enter its first real downturn since 1998 with a 30 per cent plunge by 2015. - Reuters |
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Post by me200 on Nov 29, 2013 9:09:19 GMT 7
Li Ka Shing denies quitting on China, HK.
Billionaire defends moves to sell key assets there as 'normal'. www.straitstimes.com/premium/world/story/li-ka-shing-denies-quitting-china-hk-20131129In SG, CDL chief also mentioned that the land price has escalated to a tipping point. Thursday, 28 November 2013 22:36 HK's Li Ka-shing says property sales the WORST in 13 yearsHONG KONG - Asia's richest man, Li Ka-shing, says his business has suffered its worst year in more than a decade as measures to cool one of the world's most expensive real estate markets take their toll on Hong Kong's powerful developers. "We only recorded about HK$4 billion ($$648 million) of property sales for the entire year, merely 15 per cent of the total sales in between HK$26 billion to HK$27 billion during the past two years," Mr Li told the Guangzhou-based Southern Metropolis Daily in an interview published on Thursday. The billionaire octogenarian, who owns property company Cheung Kong (Holdings) and ports-to-telecoms conglomerate Hutchison Whampoa also sounded a note of caution over soaring land prices in Hong Kong and mainland China. " Land prices are high in Hong Kong, and (we) have seen an unhealthy trend. Land prices in the mainland are soaring as well and we can't win the bids either," he added. Mr Li has sold three major real estate assets in China so far this year, with the recently announced sale of an office project in Shanghai for US$1.16 billion, sparking speculation that he is retreating from the mainland property market. In Hong Kong, the city's developers have been forced to offer steep discounts to offset higher stamp duties imposed a year ago to cool prices that have jumped 120 per cent since 2008. Cheung Kong, the city's second-largest property company by market value, had achieved just 15 per cent of its Hong Kong contracted sales target of HK$30 billion with less than two months before the end of the year, Credit Suisse property analyst Ms Joyce Kwock said in a recent note. Major rival Sun Hung Kais Properties in September posted a 14 per cent fall in full-year underlying profit for 2013, lagging forecasts and marking its first drop in annual earnings due to slow sales in Hong Kong. Deutsche Bank forecast last month that Hong Kong home prices could drop up to 50 per cent in the next 12 months, while Barclays said the market will enter its first real downturn since 1998 with a 30 per cent plunge by 2015. - Reuters
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Post by oldman on Jan 10, 2014 9:30:31 GMT 7
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