Friday, June 20, 2008
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Govt offers fewer confirmed sale sites in uncertain mkt
THE Government is cutting back on the number of development sites being releasing for outright sale over the next six months. Its move follows poor sales of the 37 sites that have been available since the start of the this year. Only five sites on the confirmed list have been sold while four other plots on this list have yet to be sold or launched. None of the 26 sites on the reserve list have been triggered for tender. These sites go on sale only if a developer makes a minimum bid. -
Bull wrote:
Supply start to cut down. Demand start to shoot up like May sales. In 1-2 month, you will see the effect. many will miss the boat again this round.
Bear wrote:
With the cut to 7,960 available new residential units. It's about 1327 units per month to be out to the market. Looking at the monthly transaction now, it's more then enough. There are also units that developers are holding, that will be more then enough supplies. There are speculators who hold their hot potatoes too or owners who bought new units and need to sell their existing properties when they house is ready with the TOP. Beside cutting price, the sellers will need have other benefits to attract the buyers. If the market remain weak, the housing might drag Singapore into a man-made recession with all the bad news like what happening at the west.
May also want to read:
History of Singapore Property 1960 to 2008
Buy or Not Buy: How to decide amid mixed market signals
Smart Buyers, 10 reasons to wait
Property Price Index Graph Plotter & Online Property Valuation
Join the Singapore Property Forum to discuss Smart Buying Tips here.
GLS 2008 - Bull & Bear Views
The Straits Times. June 19, 2008Govt offers fewer confirmed sale sites in uncertain mkt
THE Government is cutting back on the number of development sites being releasing for outright sale over the next six months. Its move follows poor sales of the 37 sites that have been available since the start of the this year. Only five sites on the confirmed list have been sold while four other plots on this list have yet to be sold or launched. None of the 26 sites on the reserve list have been triggered for tender. These sites go on sale only if a developer makes a minimum bid. -
Bull wrote:
Supply start to cut down. Demand start to shoot up like May sales. In 1-2 month, you will see the effect. many will miss the boat again this round.
Bear wrote:
With the cut to 7,960 available new residential units. It's about 1327 units per month to be out to the market. Looking at the monthly transaction now, it's more then enough. There are also units that developers are holding, that will be more then enough supplies. There are speculators who hold their hot potatoes too or owners who bought new units and need to sell their existing properties when they house is ready with the TOP. Beside cutting price, the sellers will need have other benefits to attract the buyers. If the market remain weak, the housing might drag Singapore into a man-made recession with all the bad news like what happening at the west.
May also want to read:
History of Singapore Property 1960 to 2008
Buy or Not Buy: How to decide amid mixed market signals
Smart Buyers, 10 reasons to wait
Property Price Index Graph Plotter & Online Property Valuation
Join the Singapore Property Forum to discuss Smart Buying Tips here.
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The blogger here has been affectionately named by close allies as "Smart Buyer" but really, he's not smart. Smart Buyer just believes that being prudent is smart. That's the essence of the message of this blog and Smart Buyer hopes it'll benefit other property buyers.
Smart Buyer :)