Wednesday, December 24, 2008

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Important information on Deferred Payment Scheme not released by URA

Last week, URA released information on private housing units sold under the Deferred Payment Scheme. The more useful data, however, have been withheld as requested by developers, which in turn suggest they are not positive.

Among the additional information we would have liked are:

Break down between local buyers and foreign buyers

Break down between local buyers and foreign buyers is important on the basis that the former are more likely to honor the transactions unless they really can’t afford to. Developers are understandaby reluctant to provide such information on a
project-by-project basis, eg CapitaLand’s Orchard Residences (launched in Apr ‘07), SC Global’s The Marque (Jun ‘07), City Developments’ Cliveden (Jun ‘07); and Keppel
Land’s Marina Bay Residences (Dec ‘06), which would have a higher percentage of foreign buyers.

How many original buyers and how many from sub-sales

How many of the 10,450 were the original buyers and how many from sub-sales is not known. URA noted that the number of units still under DPS may change over time as developers may not extend the scheme to sub-purchasers when the original purchasers sub-sell their units.

Percentage of DPS buyers who have secured financing

The percentage of buyers who have secured financing reflects the proportion of buyers who bought for owner occupation since they would likely have arranged for financing at the time of purchase, even if they have opted for DPS.

May also want to read:
99 Leasehold Property: Calculation of Depreciation Rate based on Singapore Land Authority Data
Spore Property History 1960-2008
Property Investment Tip: Don't put all your eggs in one basket
HDB Resale Price Index 1990-2008: Graph & Chart


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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.

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