neubie 2 Report post Posted October 1, 2010 GOVERNMENT measures to prevent the property market from overheating have cooled transactions of Housing Board resale flats in the third quarter. The number of resale flats changing hands fell sharply by 25 per cent in September alone, from August. The estimated number of resale transactions for the third quarter is about 8,299, or 10 per cent less than the previous quarter, according to flash estimates released by the HDB on Friday. HDB resale prices have also gone up slower in the June to September, rising by 4 per cent, compared to 4.1 per cent in the second quarter. As most of the transactions for Q3 were submitted to HDB before the announcement of the tougher measures on Aug 30, HDB said the impact of the measures is not fully reflected in the data yet. But demand for HDB flats, especially from first-time applicants, continue to be strong. To meet this, the HDB is ramping up new flat supply in the last quarter, and will launch 3,400 flats under the Build-to-Order (BTO) Scheme. This will bring the total BTO flat supply for this year to 16,000. In the first quarter of next year, HDB will launch about 5,000 BTO flats, as part of the supply of 22,000 new flats planned for 2011. Share this post Link to post Share on other sites
forgotten 1 Report post Posted October 1, 2010 (edited) I didn't expect to still see a 4% increase despite of hungry ghost festival & cooling measures... I was expecting 1%... Edited October 1, 2010 by forgotten Share this post Link to post Share on other sites
jansenboy 0 Report post Posted October 1, 2010 Lol It's good to know that the media actually manage to "twist" the news and say that resale price increaement slowed down. By 0.1%! See, the new policies work! Share this post Link to post Share on other sites
RimBlock 0 Report post Posted October 2, 2010 Where was the article taken from ? Would be nice to have a link back to the source. Hardly rocket science when a seniour gov minister announces sweeping changes to the rules with no warm up period before they take effect and the banks, lawyers, property agents and even HDB have no idea how these new rules will affect people. People are waiting to see what the new rules actually mean in reality. 25% of the market is choosing to just wait and see for the most part. A large portion of the market were already commited like we were (excised OTP and just about to file with HDB) or had already filed. Others may have been people just wishing to see how much they can squeeze out of people with no real interest in selling anyway. As it has only been a month the statistics are also fairly pointless. If someone was to announce that people would be refused COE for a car if they were under 5ft 5", had come in contact with a camel sometime in the last 4 years and smelt vaguely of strawberries then the chances are that the number of people bidding on COE's would decrease as people try to work out what on earth the announcer is talking about and how it may affect them. I would imagine any political body making those announcements would also claim that the measures have reduced traffic density as well. Pointless statistics are pointless. RB Share this post Link to post Share on other sites
dean 5 Report post Posted October 2, 2010 Straits times saturday, got HDB resale deals fall 25% after new rules. so COV will drop to 10K? Share this post Link to post Share on other sites
forgotten 1 Report post Posted October 2, 2010 (edited) Article written by Mah Bow Tan, Oct 01, 2010 Housing supply: Allocating scarce resources http://www.todayonline.com/Business/EDC101...carce-resources Edited October 2, 2010 by forgotten Share this post Link to post Share on other sites
bepgof 20 Report post Posted October 2, 2010 (edited) I didn't expect to still see a 4% increase despite of hungry ghost festival & cooling measures... I was expecting 1%... Don't to be too sad or too happy, rust is flying, nothing conclusive. 4% price increase, QoQ, July to end september =( 7+8+9)/3. Pricing factors to consider: 1. Chinese ghost between 10/8 to 7/9 = buyer at upper hand, so lower price resulted. 2. Whole July = "solid" sale & price 3. Whole Sept = wait & see, 25% vol down MoM Aug-Sep, or, 10% QoQ. Genuine buyers involved = Those willing + able. I think the factors 2 & 3 contributed much to the 4%. Likely with this result get published, mkt sentiment will be heated up again soon and the stock market hits 28 months high....No wonder some IPOs & bond will be issued soon to "suck" the liquidity($) away from the retail market (end users). Edited October 2, 2010 by bepgof Share this post Link to post Share on other sites
salavanun 0 Report post Posted October 2, 2010 I really surprised prices of property can be so easily influenced by .....thats y some die hard who hv waited for years prices to drop or cov to zero still there..i tot real impossible for this day to arrive so fast...but truth prevails Share this post Link to post Share on other sites
bepgof 20 Report post Posted October 2, 2010 (edited) Straits times saturday, got HDB resale deals fall 25% after new rules. so COV will drop to 10K? Need 3 months to work out the "mean" COV. Resale application to complication take abt 4 months. So (9+10+11+12)=2010 , (1+2+3)=2011. Meaning that the mean COV values at reespective areas, will be "meaningful" or "representative" only in end March 2011!. During period from now to march 2011, media sure take opportunities to gain readership by..... Edited October 2, 2010 by bepgof Share this post Link to post Share on other sites
forgotten 1 Report post Posted October 3, 2010 (edited) Yeah, let's wait for the dust to settle in 1st quarter 2011. Weeks ago, I had colleagues who own only private properties complaining to me that they missed the HDB boat. Edited October 3, 2010 by forgotten Share this post Link to post Share on other sites
