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!