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Frustrating September private home sales in 6 charts

Developer sales numbers are now lower than Global Financial Crisis tallies.

It looks like developers aren&rsquo t getting any rest soon as sales continue their downward trend. Numbers this month have been the lowest since the September of 2007 and even lower than the 2008 sales on the onset of the GFC.

Private home sales in September this year is lowest since 2007

Developers sold only 341 units in September 2015, bringing 9M15 sales to 5,892 units (-1% y/y).

This is the lowest September month sales figure since 2007 and is even lower than September 2008 sales of 376 units at the onset of the Global Financial Crisis. September 2015 sales are the second lowest sales since December 2014 where only 230 units were sold.

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18-Oct-2015 20:17

CapitaLand / This is a BUY!!!

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September developer sales declined 34% m/m (-47% y/y) to 341 units

There was no new private project launches in September. Developers continued to delay launches on volatile stock markets, weak &lsquo The Hungry Ghost Festival&rsquo period of 14 August - 12 September, and General Elections. There were also fewer new units launched in older projects, a decline of 35% m/m to 391 units

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18-Oct-2015 20:15

CapitaLand / This is a BUY!!!

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Mass market leads the total sales 74% of 341 while CCR sales fall 56%

Developers move units in older projects in the suburbs at stable prices. Out of the total 431 units sold in September, 74% were in the mass market Outside Central Region (OCR) area. September&rsquo s top seller was August and July&rsquo s top seller High Park Residences which sold 46 units at a median price of S$941psf, compared to 76 units at S$933psf in August and 1,169 units at S$989psf in July. The project is now 90% sold (of a total 1,390 units). The second best-selling project was Botanique At Bartley which moved 38 units at a median of S$1,293psf compared to 30 units in August at a median of S$1,282psf. It is now 67% sold (of a total 797 units).

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18-Oct-2015 20:13

CapitaLand / This is a BUY!!!

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Sales weaker across all price segments high-end

Units sold in the high-end Core Central Region (CCR) decreased 56% m/m to 20 units. We note that there have been no sales of luxury projects at prices above S$3,000psf since June, amidst turbulent global equity markets and increasing macro uncertainties.

&bull The high-end Leedon Residence was the top seller in the CCR for the fourth consecutive month with five units sold at a median price of S$1,796psf, lower than S$2,070psf for the 14 units in August and the S$1,878psf for the 14 units sold in July. This brings total sales to 201 (53% of total 381 units)

. &bull Corals at Keppel Bay sold two units at a median price of S$1,972psf, a decrease from the median price of S$2,032psf for the five units sold in August. Corals is now 55% sold, 202 of 366 units. &bull With the impending completion of the Downtown Line stations along Bukit Timah Road, Robin Residences sold four units at a median price of S$2,327psf, vs seven units at a median price of S$2,401psf in August. This brings the project to 46% sold (61 of 134 units). The highest price achieved was again by a unit at V at Shenton, at S$2,916psf, higher than the S$2,585psf achieved in August and S$2,636psf achieved at V at Shenton in July

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18-Oct-2015 20:11

CapitaLand / This is a BUY!!!

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3Q15 private home prices fell for eight straight quarters since 3Q13,

and public housing prices fell for the ninth straight quarter since 2Q13

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18-Oct-2015 20:08

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Private property price index (PPI) in OCR fell the most by 1.6% q/q in 3Q15

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18-Oct-2015 19:51

CapitaLand / This is a BUY!!!

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Weak property market bleeds agencies, sales agents

lynkhoo@sph.com.sg

136 agencies shut down, 3,146 people exit the sector top market players expect more casualties

Oct 13, 20155:50 AM

Singapore

SOME 140 real estate agencies have closed shop over the 12 months to March 31, 2015 and over 3,000 property agents have quit the industry in that period as the sluggish property market continued to take its toll on industry players.

The honchos of top agencies here told BT that they are expecting more " casualties" in the current renewal of CEA licence period, October to December, with more agents throwing in the towel.

The latest annual report from the Council for Estate Agencies (CEA) for its fiscal year ended March 31, 2015 shows that there were 1,654 new salespersons who entered the industry over the 12 months but the number of registered salespersons still dropped to 32,006 as at March 31 from 33,498 a year ago, meaning 3,146 people left the sector.

And while 109 new property agencies were formed, the total number still fell to 1,422 from 1,449, yielding a loss of 136 agencies.

Tan Tee Khoon, managing director of KF Property Network, a subsidiary of Knight Frank, said: " It will not be boom town 6-12 months down the road given the build-up of completed and unsold non-landed residential units, stringent access to borrowing and interest rates rising.

" The slowdown is also observed in commercial and industrial property sectors. Thus, the real estate agency profession will not appeal to those who are in for the money."

PropNex chief executive Mohamed Ismail noted that on average, it now takes double the amount of time to close transactions compared to three to four years ago in the face of the double whammy of sluggish demand and greater supply.

" Agents who are full-time and trained to understand the market can adapt and add value to their customers. But for those who are not prepared to retrain and cannot close the deals in the usual short period of time, they will find it hard to earn income to keep up with their commitments," he said.

But interestingly, the 109 new property agencies that opened in the 12 months to March 31 marked an increase from 81 in the year-ago period.

" This increase is more likely due to existing and experienced salespersons leaving their firms to strike out on their own rather than entirely new entrants into the industry," Mr Tan said. " The new estate agencies are thus more niche in targeting specific real estate sectors based on the experienced salespersons' core competencies."

Between Jan 1 till now, many smaller and mid-sized agencies have seen a drop in agent strength, while the bigger agencies have seen an increase.

Singapore' s largest agency, ERA Realty, has 6,185 agents now, up from 5,707 as at Jan 1. The second largest, PropNex, has 5,959 agents, up from 5,358 as at Jan 1. For HSR International Realtors, however, its number of agents has shrunk to 826 as at Monday from 1,324 at the beginning of the year.

OrangeTee managing director Steven Tan felt that this migration of salespersons to larger agencies with competitive advantage or economies of scale will ensue, even though he is expecting a moderate pick-up in transaction volumes as prices become more attractive. The HDB resale market, for instance, has showed signs of stabilisation in recent months.

On a brighter note, the CEA noticed that there has been a decline in the number of consumer complaints against salespersons.

Over the past five years, the number of complaints on a per thousand transaction basis (to adjust for market volume) has declined by two-thirds from around 15 to about five currently, according to CEA.

CEA attributed this to enhanced industry standards stemming from regulatory enforcement, professional development of salespersons and consumer education.

Of the 702 complaint cases in the year ended March 31 (751 cases in the year before), HDB resales make up the biggest proportion (33 per cent) followed by private sales (19 per cent).

There were 224 letters of advice or warning issued to property agencies or salespersons arising from 191 cases in the fiscal year ended March 31, down from 644 letters arising from 458 cases in the preceding fiscal year.

Of the more serious actions taken, 12 court cases were filed and 17 concluded, compared to 19 filed cases and 13 concluded cases the year before.

CEA recognised that " the real estate agency industry is operating in an increasingly competitive and challenging environment" . It has stepped up its engagement with industry stakeholders and received feedback on its upcoming plans.

Now in its fifth year of regulating the industry, CEA is looking into a certification programme to encourage property agencies to adopt good business processes to ensure professional and consistent service to customers.

" The working group is in the process of seeking feedback and suggestions from KEOs (key executive officers) and salespersons," CEA president Greg Seow and executive director Chionh Chye Khye said in their joint message in the CEA annual report. " We will also strengthen capabilities in support of industry development."

This followed the introduction of the Continuing Professional Development (CPD) Training Roadmap for KEOs and salespersons last year.

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18-Oct-2015 19:36

Yoma Strategic / yoma.....growth story

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Suu Kyi to lead Myanmar ?!......

In Myanmar, the president is chosen from three candidates nominated by the two houses of parliament and the military, which holds a quarter of the seats in the bicameral chamber. The president then forms the government. There is no prime minister.

Suu Kyi has forged ties with Shwe Mann, the speaker of parliament, ousted by President Thein Sein from the leadership of the ruling Union Solidarity and Development Party (USDP) in August.

Suu Kyi' s ties with Shwe Mann, a former general, sparked speculation that the NLD might select him as a presidential nominee but she distanced herself from the idea during the interview.

" We will have a civilian member of our party," Suu Kyi said about a potential nominee.

" It' s not a matter of preference. It is a matter of what is appropriate and it would be more appropriate for us to have a bona fide civilian, NLD candidate for president."

RELIGIOUS INTOLERANCE

Suu Kyi expressed worries over an increase in anti-Muslim sentiment in Myanmar and religion being used for political means, saying that there were, " very, very worrying signs of religious intolerance which we did not have in this country before."

The NLD has been criticised for not putting up any Muslim candidates in its field of over 1,100 parliamentary and regional assembly hopefuls, but Suu Kyi has remained quiet on the issue.

During the interview, Suu Kyi said that the one Muslim candidate the NLD tried to field was disqualified by the electoral commission.

When asked if she was sorry about not having any Muslim candidates, she said that she was sorry that religion had become an issue in the election.

Nationalist monks, particularly the Committee for the Protection of Race and Religion, better known as Ma Ba Tha, have sharply criticised the NLD for what they see as its failure to sufficiently protect Buddhism.

Suu Kyi said that this worried her, but that it was difficult for her party to fight back because the constitution forbids the mixing of religion and politics.

" It is a fact that this government certainly has not taken much action against those who are using religion to attack the NLD although that is against the law," she said, when asked if government policy had contributed to the increasing role of religion in politics.

One of the most outspoken leaders of Ma Ba Tha, Wirathu, endorsed president Thein Sein, and said the NLD members " were full of themselves" and unlikely to win the election.

Suu Kyi reiterated her defence to criticism that she has said little about Myanmar' s Rohingya Muslims, around 140,000 of whom remain stateless in Rakhine state following clashes with Rakhine Buddhists in 2012.

She is scheduled to visit the state later this month.

" I have talked about it, but people are not interested," Suu Kyi said.

" Because what they want me to do is to condemn the Rakhine. I can' t condemn the Rakhine for the simple fact that the Rakhine have many grievances as well."

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18-Oct-2015 18:43

CapitaLand / This is a BUY!!!

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Let' s take a look some interesting Singapore property story........

some of the miles stone......from hot summer......to cold winter......

Summary of the Singapore Property Cooling Measures......

Round 1 - 14 Sep 2009

Round 2 - 20 Feb 2010

Round 3 - 30 Aug 2010

Round 4 - 14 Jan 2011

Round 5 - 7 Dec 2011

Round 6 - 5 Oct 2012

Round 7 - 11 Jan 2013

Round 8 - 28 June 2013

Below is the brief summary of Singapore property cooling measures that are in place currently:

TDSR framework

The Total Debt Servicing Ratio framework is the latest rule enforced by the Monetary Authority of Singapore (MAS). In short, this framework is a set of rules that restrict financial institutions from lending to an individual if his outstanding debt repayments (any debt, not only linked to property) exceed 60% of his gross income (including the potential new loan). The interest rate used for calculation of the new loan is 3.5% or the actual interest rate, whichever is higher.

Guarantors must not exceed the TDSR threshold as well.

Loan Tenure limit

Tenures of loans granted by financial institutions regulated by the MAS are limited to 35 years.

In case of co-borrowers, the income-weighted average age will be used, i.e. assuming Mr A (40) who earns $3,000 monthly and Mr B (30) who earns $2,000 apply for a loan, their income-weighted average age will be 36.

Loan-To-Value (LTV) limits

The LTV limit is the maximum percentage of the purchase price (price agreed upon between buyer and seller) or valuation price (given by the bank), whichever is lower, that can be borrowed from the bank.

80% if you do not have any other outstanding loan. If you are a foreigner without PR status, some banks might cap at 70% or even 60%
50% if you have one outstanding loan
40% if you have two or more outstanding loans or if you are buying under a company.

If your loan tenure is more than 30 years or the loan period would go beyond the retirement age of 65, these limits are lowered to:

60% if you do not have any other outstanding loan
30% if you have one outstanding loan
20% if you have two or more outstanding loans or if you are buying under a company.

The borrower must be the same person than the one purchasing the property.

Minimum Cash Down Payment

The remaining amount (from the LTV above) that cannot be borrowed from the bank has to be paid in cash or can come from a CPF ordinary account (mandatory saving account for Singapore citizens and Permanent Residents). However, there is a minimum percentage of the purchase price or valuation price, whichever is lower, that has to be paid in cash:

5% cash for a LTV of 80%
10% cash for a LTV of 60%
25% cash in all other cases.

Additional Buyer Stamp Duty (ABSD)

Anybody buying a residental property in Singapore is required to pay stamp duties (i.e. a tax) equivalent to roughly 3% of the purchase price or valuation price, whichever is higher. To cool the market, the government introduced an addtional stamp duty (the ABSD) which varies according to your immigration status:

If you are a Singapore citizen, the ABSD is 0%/7%/10% if you are buying your first/second/third or subsequent property respectively.
If you are a Singapore Permanent Resident, the ABSD is 5%/10% if you are buying your first/second or subsequent property respectively.
If you are a foreigner (living in Singapore or not) or buying under a company, the ABSD is 15% if you are buying your first or subsequent property.

Purchases by more than one individual will be subject to the highest applicable ABSD (some exemptions apply &ndash see below).

Find out how does Additional Buyer&rsquo s Stamp Duty (ABSD) affects property purchases made by Singaporean, Singapore Permanent Residents and Foreigners here. Please note that ABSD is applicable only on residential property. It doesn&rsquo t affect commercial and industrial property transactions.

Seller Stamp Duty (SSD)

To reign in speculation, sellers are required to pay a Seller Stamp Duty, which is a percentage of the selling price or valuation price, whichever is higher.

If you purchased your property between 30 August 2010 and 13 January 2011, the SSD rate is about 1%.

If you purchased your property on or after 14 January 2011, the SSD rates are the following:

If you sell less than 1 year after purchase: 16%
If you sell between 1 year and 2 years after purchase: 12%
If you sell between 2 and 3 years after purchase: 8%
If you sell between 3 and 4 years after purchase: 4%.

Restrictions regarding Public Housing

Housing sponsored by the government (HDB flats) have extra restrictions:

The Mortgage Servicing Ratio (MSR), i.e. percentage of income that can pay for the loan, is capped at:
- 30% if the loan is granted by a private institution such as a bank
- 35% if the loan is granted by the HDB
Permanent Residents are not allowed to rent out their entire unit (which requires approval from the HDB)
Permanent Residents who own a HDB flat must sell their flat within 6 months of purchasing a private residential property in Singapore.

Exemptions and Reliefs

1. LTV

If you own a residential property in Singapore, you are not subject to these limits when you obtain a housing loan for the purchase of a property which is an Executive Condominium (EC) purchased directly from a property developer or a HDB flat (which requires you to dispose of your previous flat)

2. ABSD

Nationals from the USA, Switzerland, Norway, Iceland, and Liechtenstein are exempted from paying the ABSD for foreigners. The ABSD rule applying to them is the same than Singapore citizens.
Married couples with at least 1 Singapore citizen will be exempted from paying the ABSD if:
- None of them already owns a property
- They agree to dispose of their existing property within 6 months of the purchase of their new property (or the TOP if the new property is uncompleted).

The 3 party games....

1. Homebuyers are holding back in anticipation of the surge in physical completions in 2015-16 and prospective price declines.

2. Developers are dragging launches, with an eye on government stepping in to reverse some of its anti-speculation measures.

3. The authorities, is there a significant drop in property prices, it will be difficult to justify any easing of cooling measures, when prices are in general only slightly off their peaks in 3Q13 (down 4.9%).

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12-Oct-2015 16:57

Yoma Strategic / yoma.....growth story

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we are THUMBS DOWN......

Image result for monkey in jail

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12-Oct-2015 16:54

Yoma Strategic / yoma.....growth story

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More bad luck for you -----> > > > THUMBS DOWN.....

THUMBS DOWN......EAT WHAT?.....LOL....IDIOoot.....

黃爸蛋 ....pressed THUMBS DOWN.......loss money......

我見你一次 ..........我打你一次

SEE YOU ONE TIME.......SLAP YOU SHIOK.....SHIOK........

BE THICK SKIN......LOL

THUMBS DOWN.....

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12-Oct-2015 16:52

Yoma Strategic / yoma.....growth story

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0.445.................❤ .....♪ ♫ .......❤ .....❤

lyn_lyn ( Date: 12-Oct-2015 16:40) Posted:

yoma.....0.46 not far.................❤ .....♪ ♫ .......❤ .....❤

lyn_lyn ( Date: 12-Oct-2015 15:22) Posted:

LOL.....broke UP!....yes!

0.44.................❤ .....♪ ♫ .......❤ .....❤

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