developers reducing supply

[curiousity]

a number of posters here refer to property developers effectively withdrawing projected supply of units, by delaying completion dates. I'm curious as to what penalties they'd be liable for if they do this with projects that have already been launched. do buyers who put their 20% down on dps (or bought on other installment terms) not have any recourse if the expected TOP is then delayed by two years?
not in this situation myself (or I'd be able to read the fine print), but curious as to how easy it really is for a developer to delay a project that has already been launched (and presumably has at least some buyers who have already committed).

[Don't worry]

a number of posters here refer to property developers effectively withdrawing projected supply of units, by delaying completion dates. I'm curious as to what penalties they'd be liable for if they do this with projects that have already been launched. do buyers who put their 20% down on dps (or bought on other installment terms) not have any recourse if the expected TOP is then delayed by two years?
not in this situation myself (or I'd be able to read the fine print), but curious as to how easy it really is for a developer to delay a project that has already been launched (and presumably has at least some buyers who have already committed).

They are delaying projects which had been planned but not launched yet. They will delay a launched project only if they have financial problems. Yes there are penalties payable to the buyers  for not completing projects by the stated TOP date for launched projects.

[madness]

I received a call from an estate agent last night asking me to visit a soft launch of a development that will be ready in 2012 !!!???

Launch prices start @ $1500 per sq ft....that's silly for 1115 sq ft shoe box.

They have been working on this site for the last 12 months and its just one big muddy hole in the ground.

I told him the market is cooling off and the stock market has collapsed big time.

He then said that I could make an offer and the developer might accept it. 

[boo hoo]

thats just developer and agent bs lah.  Just trying to talk up the market so that they can offload all their junk to some simpleton.

[boo hoo]

should just hold off on any purchases - one or two developers will go into liquidation and thats when the party starts....

[aaaa]

should just hold off on any purchases - one or two developers will go into liquidation and thats when the party starts....

You may have 1 or 2 of the small developers that launch small 20-30 units condos from time to time going banrupt but the biggies responsible for majority of the supply are too strong to go into liquidation.

[boo hoo]

really? was Sands big enough for ya?

[boo hoo]

You may have 1 or 2 of the small developers that launch small 20-30 units condos from time to time going banrupt but the biggies responsible for majority of the supply are too strong to go into liquidation.

no one is now big enough that can't go bk, from banks to automakers

[That happens only]

really? was Sands big enough for ya?

That happens only with Americans or should i say in the West. Go up very fast and come down even faster.

[U can wait for it]

You may have 1 or 2 of the small developers that launch small 20-30 units condos from time to time going banrupt but the biggies responsible for majority of the supply are too strong to go into liquidation.

no one is now big enough that can't go bk, from banks to automakers

So your are expecting Capitaland, CDL, Keppel Land, Allgreen, etc which are responsible for 90% of the supply to go belly up?. Yes they might if property prices collapse 90% in which case you will be long gone from Singapore.

This is Singapore and we don't run big corporations the way Americans do.

[Leonidas]

For a second I thought you were going to say: This is Spartaaaa!

[boo hoo]

hahah - all these singapore property companies are tiny, and here you are boasting they are too big to fail.. amazing.

 So only companies in the US go bust? U guys seem to forget the late 1990s.  Anyway, let's sit back and enjoy the trainwreck ok.

[james bond]

never say never

Capitaland's share price was $8.00 last year but its now $2.50.

Only Temasek can save them from going bankrupt but for how long.

This recession is going to last 2,3,4,5 years.....who knows !

[Jittery Devs]

Have you read the article that mentioned Simon Cheong and the developer community meeting all the analysts together to give another "perspective". They think the analyst community has been unfairly giving bearish estimates.

[Dumbos]

Have you read the article that mentioned Simon Cheong and the developer community meeting all the analysts together to give another "perspective". They think the analyst community has been unfairly giving bearish estimates.

Redas was trying to tell the analysts how stupid they were which they are indeed. MS wins the trophy for being the most stupid with their 75% price fall prediction. They know nuts about the local market and how the govt functions and that with that kind of all, MS would end up shutting their office in Singapore. What a bunch of clowns these analysts are. All of them could not predict the mess USA and the world would be in today. So you still want to listen to these ANAL-ysts?