Property Leak Super Safe Sound Advice #2

Source: The Business Times

Doesn't take alot to read a chart, but I added a little graphic demonstration for the benefit of those who can read but can't understand.

Property Chartopia

Was looking through a Merrill Lynch report that my friend shared with me, and thought some of the above charts and notes might dissapoint you folks who thought that prices might crash overnight due to the URA announcement on DPS.

Economy is roaring, F1 is coming, a new racetrack is being built (to the dissapointment of some environmentalists lol) and with two 4 billion dollar Integrated Resorts - this DPS game isn't going to put a dent in prices.

So it looks like until the government re-introduces of Capital Gains Tax, the only way to go is up!

Flippers Get the Shaft

Anti-Flippers, Wear Your Tag Proudly in Forums!

The almighty Government has just given Property Flippers the shaft! Deferred Payment schemes for NEW Condos will no longer be available - which to me is actually bloody good news.

Deferred Payment to me has always been a No-No mainly because:

• It generally encourages property bubbles. Flippers with no plan to see the project through to its completion might default, and if widespread might 'crash' the project as the developer has no cash


• If you get your bank loan later, the bank might not 'value' your property equal to its purchase price and you have to fork out alot of cash (also known as 'You Are Screwed')


• I always believe in REAL capital appreciation thank you

I am glad it has come to this. Now real investors and homeseekers who have the power to go for progressive payment schemes will get to play a more even field.

Oh, and I can't find a scrap of this announcement on URA's website even after all the yakking on the radio which is absolutely ridiculous.

Update 28th Oct: The URA website has been edited to include:

On 26 Oct 2007, the Government withdrew the deferred payment scheme, i.e. applications from developers to offer deferred payment scheme for new housing projects will not be approved. However, developers who have already obtained the Controller’s approval to offer a deferred payment scheme may continue to offer it to purchasers after 26 Oct 2007. Purchasers are advised to check with the developers on the payment scheme being offered.

This means that current launches that still have DPS can still go ahead with DPS!

Mass Market Alert: Esta Ruby

Yet another project for you Mass Market folks, the Esta Ruby will be launching on the 27th of October or so it claims from a flyer I received as seen above.

If you don't mind Geylang being your backyard, the cookie-cutter condo Esta Ruby is a pretty decent gastronomical tradeoff; though I'm not sure about it being 'A Priceless Discovery to Call Home'

Earplugs In Shortage, Panic Fills the Streets.

Official Unofficial Image Taken Off http://www.formula1.com/news/headlines/2007/10/7040.html

Quote: "Formula One racing’s governing body, the FIA, has confirmed the 2008 Singapore Grand Prix will take place at night as planned. The inaugural Singapore event, to be held on a new street circuit in the Asian city, is scheduled to take place on September 28. ".

Property Leak's Super Safe Sound Advice #1: Buy Options for Earplugs, Ear Mufflers. Flip in September '08.

The Sky Has Fallen! Jardin Launches!

The Jardin has FINALLY FRICKIN launched after more then half a year's 'launching this weekend'. For the past few weeks I've been noticing workmen adding the final touchups to the showflat while on my way home and I guess that adds up.

But for $1950psf upwards, thats surely a mighty blow to any pocket - though it will mean good news to Maplewoods, and the super undervalued Blossomvale (which has an amazing view of Bukit Timah Hill).

Heard that the showroom is mighty impressive and personally would like to drop by.

Sui Generis Launches; Taxi Driver Vocab Expands

Defying the limits of Taxi Driver Vocab are Kajima Overseas Asia Pte Ltd & United Engineers Developments Pte Ltd with the Sui Generis.

Located at Balmoral, this project was given a mention earlier in the year after The Great Rochester Fiasco. That aside, things in Balmoral are moving and I'm keeping this area under my radar - it was also announced today that HIAP Hoe and sister company SuperBowl Holdings has bought a piece of Freehold land at Balmoral.

Wikipedia: Sui generis (English pronunciation (IPA) or ) is a (post) Latin expression, literally meaning of its own kind/genus or unique in its characteristics.

Lumos - I didn't Get Invited

So I was told that I wouldn't (and couldn't) get invited to the Lumos Preview along Orchard, because my usual banker isn't part of this little coup. Apparently only Maybank, Citibank and HSBC bankers get to invite their clients to the preview. For that, Koh Brothers Group Limited & Heeton Holdings get a special place in my Little Black Book.

Whining aside, expect to cough up 3-3.5k psf to live in a giant jewel case.

If someone gets their paws on the floorplans/brochure for this one, please email me at realgossip@gmail.com.

Park Natura - Launching!

Hear ye' mass market peoplings! The Dukes and Duchess's had their fill in District 9, now feed on them scraps on the outer-outer-fringe areas - such as Bukit Batok and the latest project there, Park Natura from UIC!

Expertly guestimated to launch soon at around a 'modest' $900-1000psf by my agent, I would buy an older 99yr leasehold along East Coast anyday. Well for those enblocced people desperately looking for an affordable home, ho hum....just learn to suck it up and move on.

Be Warned!

Mdn Gardens 85% Says Yes; The Circus Begins!

One of my friends staying over at Mandarin Gardens today told me today that 85% of Mandarin Gardens has said Yes - well for the moment only to the forming of a sales committee.

While this is positive news to investors at my favourite project in District 16, I believe this might be a long and difficult process especially with over a thousand units within.

• Scale: The larger projects are, the more difficult to handle. Imagine getting 800 people to agree on a single thing.

• Timing: What if 80% of 1000 residents finally says yes to enbloc but no developers are interested then? It's almost 2008 already.
  

• Cost: Giving there are a thousand units, and a higher potential for development (up to 36 storeys, from 23 now) this has to be a very brave developer, or a joint project (1000 units x est. $1500psf = $1.5b just for land!!!).

• Sentimental Reasons: This is an old development with quite a number of old residents within. Some might not want to go.

On a lighter note, my friend added that along with the 400 civil Mandarin Garden Residents present, the usual enbloc crowd also invited themselves: Cat Call, Wolf Whistle, Jeer, Boo, Yelling and Name Calling.

As a benchmark, it took 2 hours for the present residents to amend a single typo.

Aalto Launches, District 15/16 Gains Momentum Again

The former Eastern Mansions in District 15 has finally launched over the last weekend (okay so I was a little busy and couldn't update). Prices range from a pretty affordable 1550psf to 2500psf, probably bringing the area to a new high if any of them penthouses are sold.

Me agent tells me I will get floorplans soon, but haven't heard from him for abit. Probably busy selling units there and making a big fat sum.

Far East Organization: 3% Cashback?

Well Far East Organization is on my radar once again. Apparently after discounting Hillview Regency heavily for a week, they are applying the same tactics on another recently completed mass market project: Lakeshore (beside Lakeshore MRT).

After purchasers buy the unit, they will refund in cash a total of 3% - equivalent to the amount paid for stamp fees. While i'm not sure if this is agianst any agreement or policy, all I can say is go homebuyers go!

Another Obsession With 'Eight': 8 Nassim Hill

Thursday is the best day to have Kopi with my Agent (treat them well and they literally be your eyes and ears!). It always seems like every thursday there's something new and this week's pick is yet another project with 'Eight' obsession: 8 Nassim Hill.

Judging from its location, it sure won't be friendly to those without $9m to spare (Guestimating 3000psf x 3000sf).

Grange Infinite Launches, Odd-Shaped Furniture Prices Skyrocket

The latest Scoop: The 36 Storey Grange Infinite (Known as the En-blocced Grange Towers) will be launching soon. While this will be embraced by those who can't stand being more then 2 minutes away from Takashimaya, there will be lots of demand for odd-shaped furniture.

One of my sources, allowed me to take a peek at the floorplans and behold: Not ONE bedroom in all 68 units is evenly shaped! Every bedroom had at least one odd angled wall. While I understand there isn't much land involved in this project, there is simply no excuse for not having at least one even-shaped bedroom.

Or maybe...I'm just getting Old-Fashioned. Or Old? Am I?

Tsk. Hope the Subject to Changes clause is for real this time!

Another Reason To Invest In Singapore: Smog

While Hong Kong might be the Gateway to China and a great place to invest in Property, the Pearl River Delta is dotted with somewhat Environmentally Friendly Factories (Chinese Standards).

A few years ago when I was there I mistook cool mist around the hills for smog (a not-so-happy-with-the-takeover local corrected me quickly). From the pictures all over the internet now, I'm guessing them Super Penthouses aren't as attractive as they used to be.

Unfortunately while the New Hong Kong Government seems to be handling the takeover pretty well, I doubt they have any pull on the Mainland Chinese agenda with Beijing being the focus until the Olympics.

So there you go Mr. Foreigner, please buy more Singapore Property. If it helps, you will be contributing to the Mr. Realgossip retirement fund.

Horizon Towers: With Blessings (UPDATED)

Source: The Straits Times

Well something blipped under my radar when I was mindlessly surfing in one of Singapore's most visited forums. Apparently a highly controversial Pastor of a Mega-Church has 5 (now 13 see below) units in Horizon Towers. This was allegedly revealed in a local chinese evening paper.

If this is true, perhaps a 'Let the En-Bloc process for Horizon Towers be smooth sailing' prayer could be slipped in during one of those mass prayers.

Update 6th Oct: It has been confirmed in the Weekend Issue of Today newspaper that, Sun Ho and her Pastor Husband owns at least one unit of Horizon Towers.

Update 8th Oct: Finally found the link! Sun Ho and her Pastor Husband Owns 13 units in Horizon Towers!!! (What's a Pastor doing with so many units!? One for each disciple and one for him???)

$6.3 Billion into Singapore's Pocket; Indonesia Govt Weeps

Source: The Business Times, Thursday Oct 5, 2007

It can't be more clear. The Singapore Government has collected a princely $6.3b this time round, though supposedly overshadowed by the $14b from 1998 (which rock were you hiding under in 1999?). Are we seeing more handouts from Progress Packages on the radar come General Election?

On another note, I guess the Indonesian Government's have the right to get mad at us. We (used to) buy sand from them at dirt(!) cheap prices and their people buy it here marked up a gazillion times (minus Indonesian Sovereignty). Long Live the Free Market.

Cascadia Showroom Sneak Peak

I was just about my mid-days browsing when I came across these images of Cascadia's showroom even before it launches. Looks like plenty of effort was spent on making this mass market project look as up market as possible.


Image Source: http://www.livingpod.com

Ong Choon Fah on Enblocs pulling up HDB prices: 'Not such a bad thing. Everybody should feel a little richer'

Source: The Business Times

Trust the big cheese of one of Singapore's leading Real Estate Agencies, Ong Choon Fah, ECD, DTZ Debenham Tie Leung, to sympathize with heartlanders in these Only-the-Rich-Gets-Richer times. When quized about the latest price hike in property prices, he blabbered that it is 'not such a bad thing. Everybody should feel a little richer'.

While HDB flats and low/mid-end private housing have no doubt gained in capital appreciation with even HDB 4-roomers asking for up to 70k above valuation (what my agents tell me), these heartlanders will still have to find another place to live after cashing in; in my terms, the roof that covers your head is NOT an investment.

Oh well...but what is all that to Ong Choon Fah, my Condos and me. Time for a cuppa by my little patio with the morning paper.

Global Warming; Sentosa Residents Sell Property for Loss, then Flee in Terror

Image Source: http://www.whyfiles.org/

Well here's a cute little quote regarding the Turquoise at Sentosa from a forum that I often visit:

"What are the allowances for unusually high tides? Imagine seawater pouring into the swimming pool --- it only has to happen once, everyone will start screaming about global warming, and the values of all these places will sink like a stone in a rising ocean..."

Wow...talk about spooked investors...Oh...and Al Gore for President!

Bull on Redbull

Source: www.businesstimes.com.sg

The STI has outdone itself again with another all time record high. That with the Integrated Resorts, One Degree 15 (ala Big Boy's Boat Club off Sentosa) and F1 Racing will only add more octane into the already highly charged atmosphere...

The index closed 48.99 points higher at 3,755.22, erasing the previous mark of 3,714.77 set only last week, Thursday.

Me wonders if my kids will ever be able to afford a place for themselves on this soon-to-be rich man's island.

New Project Behind Shangri-La Launching?

Image Source: Shangri-La Singapore

Well that plot of land behind the ancient Shangri-La is finally being launched next week. What was once known as the Green Anderson

While not everyone can boast a Hotel Pool View(hopefully!), a visit to the Shangri-La not so long ago sure hinted that the entire place may all soon go...for better or worse.

Here are some details that my Super Secret Source has informed me with:

Freehold
10 Storeys
Around 34 units
3 and 4 bedrooms 2000-2200 Square Feet

Starts at $2800psf ~ anyone got $5.6m to spare?