Propety market still bullish

[Against all odds]

Over 60 apartments, or 70 per cent of first release, sold in a week -15 Sep 2008

Leading property investment and development company, Hong Fok Corporation, has received a strong response for their new Singapore residential development, the Concourse Skyline. Private previews held over the past week have sold more than 70 per cent of the apartments released in the first phase.

Hong Fok Director SE Cheong said that more than 60 of the 90 apartments in the first release put on sale at private preview over the past week sold at average prices ranging from $1,500 to $1,800 per square foot.

“We are delighted with the excellent sales result we have achieved with the Concourse Skyline. This outcome is confirmation that there is strong underlying demand in the Singapore market for well-located, unique and appropriately priced developments – and the Concourse Skyline meets these criteria,” Mr Cheong said.

Following the success of the private launch and in response to public demand, Hong Fok Corporation will release additional apartments commencing this Friday 19 September. The Concourse Skyline’s show flat, which is located on Level 38 of the office tower of The Concourse, is open daily from 10.00am to 6.00pm.

The Concourse Skyline is ideally located at the centre of Singapore’s new “action” zone. Over-looking the newly developed pit lane of the Singapore GP; the proposed Singapore Sports Hub, and the upcoming Marina Bay Integrated Resort, the location will offer buyers buzz and excitement year-round, with potential for capital appreciation and strong rental incomes.

Complementing the action activities are the attractions of the nearby Singapore Flyer and the future Gardens by the Bay, and an unmatched location next to Singapore’s convention and business centre.

The development, designed by internationally renowned architect Philip Cox, includes 40-storey and 28-storey residential towers and offers a range of one-to-four bedroom apartments, skysuites, penthouses, and super penthouses. The development is targeted at city-dwellers seeking an exciting and fast-paced lifestyle in one of Singapore’s future prime property districts.

To enhance the living experience, the Concourse Skyline offers residents the opportunity to retreat to a Sky Garden on the 29th storey, or enjoy the recreational facilities of a lap pool, gym, hot spa and jacuzzi, and barbecue area on the 5th floor.

[Ha Ha HA HA]

That's old news... I want to see who is buying this week when everyone saw how serious this is 

People are more worried about their life savings and their pension plans.

[Turned positive]

That's old news... I want to see who is buying this week when everyone saw how serious this is 

People are more worried about their life savings and their pension plans.

The sentiment has turned postive . Are you so out of touch.

[Ha Ha HA HAAA]

Yes if you say so. Very positive 

Last year there was a queue to buy a condo, this year the same queue to salvage their life savings

[Bail Out City]

With all the Central Banks quite happy to bail out the banks and stock markets, I think it makes sense to punt on property, whether in Singapore or elsewhere, because if falling asset prices becomes a serious threat to global economy, the governments the world over will also bail out property investors and home owners...just give them the money to pay for the mortgages...I figure that if the world is going to collapse and regress into the stone age amidst uncontrollable inflation, might as well do it in style, with a penthouse and ferrari...

[a fool and his money]

are easily parted.

Inflated property assets is what caused the current financial crisis. Governments will not bail out property investors. They will encourage property to be re-valued downwards.
Other wise the economy will stagnate like Japan did in the 90s
Singapore Porperty right now is the worst and most risky asset class

[bt]

They only released a tiny few of those units as they knew there was no demand

Talk up the bull all you like - as thats all it is bullshit

Not so many expats coming and the locals get 1/3 of the wage for exactly the same job - so funny

[cmdsea]

Response to a "private launch" means nothing.. Most likely convoluted sales back to themselves via relatives and holding compaines etc..

[must be XYZ]

The sentiment has turned postive . Are you so out of touch.

It has "turned" positive.  Is this an admission it was negative before?  That's a huge step for our resident permabull.

[went to the show flat...]

to be fair, the view is stunning

BUT,

1.  the show flat flat is on the 38th floor of the office block.  The two apartment blocks are only 30+ and 20+ stories (from memory)

2.  depending on the orientation of the apartment, the view could be blocked off by the very same office block in which the showflat is located (and rather cheekily, the offic block isn't even included in the mock-up model of the apartment blocks)

3.  I asked the agent what is the zoning of the piece of land in front (ie between Nicoll Highway and the river).  He said he doesn't think there will be anything built there since that is where the circle line is.  I was thinking to myself, yep, having an underground line in city hall and raffles place clearly sropped them from building high rises there...

so if you go there, and get seduced by the view, just be aware...

[You are right]

Yes if you say so. Very positive 

Last year there was a queue to buy a condo, this year the same queue to salvage their life savings

Yes to salvage their life savings and channel it to property.

[can idiots read?]

Global financial instability, stock market volatility hit sentiment: CBRE

PROPERTY investment sales continue to soften in Q3 2008 and global financial instability could keep investors out of the market, said a CB Richard Ellis (CBRE) report.

According to latest figures from CBRE Research, property investment transactions in Q3 (up to Sept 18) reached $3.17 billion. This is a 35 per cent drop from $4.86 billion in Q2 and a 65 per cent slide from $9.09 billion in Q1 this year. On a quarterly basis, property investment sales last peaked in Q3 2007 at $16.51 billion.

[can you?]

Global financial instability, stock market volatility hit sentiment: CBRE

PROPERTY investment sales continue to soften in Q3 2008 and global financial instability could keep investors out of the market, said a CB Richard Ellis (CBRE) report.

According to latest figures from CBRE Research, property investment transactions in Q3 (up to Sept 18) reached $3.17 billion. This is a 35 per cent drop from $4.86 billion in Q2 and a 65 per cent slide from $9.09 billion in Q1 this year. On a quarterly basis, property investment sales last peaked in Q3 2007 at $16.51 billion.

What has this got to do with anything?  Property investment sales is just another term for en-bloc sales, or acquisitions of entire commercial or residential buildings by corporate entities.  Enbloc is dead, everybody knows. Yawn.

Nothing at all to do with the retail investor out there.

[np brains]

this is total property sales which includes residential . Almost down to 2004 levels and still diving

[growth may dip]

Mr Shanmugaratnam (far left) said a recession cannot be ruled out, as Mr Lim Hng Kiang (left) also warned that the economic growth may dip below 4 per cent this year. -- PHOTO: BT