Developers offer soft discounts, for example, by absorbing legal fees
By Joyce Teo 28 December 2008
Private home prices are falling - and they will fall even more next year.
Property developers may disagree, but there is no question about it, if you ask industry observers.
The economy has slowed considerably and there have been retrenchments and wage cuts.
Sales volume of new homes looks set to reach an 18-year low this year, while supply is far from lacking.
‘In every bear market, no matter what the developers say, it will happen,’ Mr. Leong Sze Hian, the president of the Society of Financial Service Professionals, said of the price falls.
The only unknown, he added, is the extent of the fall.
Manpower Ministry data already shows that average monthly real earnings - pay minus the effect of inflation - fell by 17 per cent from $3,982 in the first quarter to $3,307 in the third quarter.
Also, on an annualised quarter-on-quarter basis, gross domestic product growth in the third quarter declined by 6.8 per cent, continuing the 5.3 per cent contraction experienced in the second quarter.
‘All these will filter through to the property market,’ said Mr. Leong.
Right now, most buyers are remaining on the sidelines. New launches are few, and there are not many desperate sellers out there yet.
‘Most are not feeling any pain from the recession yet. In the secondary market, many sellers are still hoping to do sub-sale at a profit,’ said Knight Frank’s director of research and consultancy, Mr. Nicholas Mak.
The result? There are no major price reductions yet, he said.
Going forward, though, there could be more speculators desperate to get rid of their properties because they do not want to be saddled with huge loans, experts say.
These are people who bought properties when the market was booming under the deferred payment scheme, which means they will have to pay the full sum for the property upon completion.
The Government has said some 10,450 units of private homes sold under the deferred payment scheme have yet to be completed. Some 2,540 units - largely bought during last year’s boom - will be completed in 2010.
In the new homes market, there will be more new property launches or re-launches after Chinese New Year late next month, consultants say.
Frasers Centrepoint, for one, has plans to release Caspian, its 700-unit condo near the Lakeside MRT station.
‘The smaller projects or those in less attractive locations will likely need to offer more discount,’ said Mr. Mak.
‘Others may offer soft discount, so that the prices reflected in the caveats will not be reduced.’
Soft discounts can take the form of furniture vouchers or the absorption of legal fees or stamp duty.
There could be price cuts in some mid-tier or prime developments where prices are ‘fairly toppish’, Mr. Mak said. ‘They would, thus, have to adjust their prices to a more reasonable level.’
Novelty Group, for one, last month cut its price for the 75-unit Luma at River Valley Grove from $2,800 per sq ft (psf) to $1,450 psf.
Recently, City Developments adjusted its price for the 77-unit Shelford Suites in Shelford Road to $1,400 psf from a preview price of $1,600 psf on average in June. The price then was already lower than expected, as two units were sold in March at $1,869 psf and $1,905 psf.
Those seeking information on new launches can check out the Urban Redevelopment Authority’s (URA’s) website, which offers monthly sales and price data on the 15th of every month.
It shows the number of units sold in the past month, as well as the median, lowest and highest prices done.
The URA website also has information on individual caveats lodged for properties sold, so you can find out the prices done at a particular condo.
The problem here is that the information is not very up-to- date because deals take time to complete and caveats take time to lodge.
The price data can easily be two to three months old, which can be a long time in today’s fast-moving market.
Potential buyers should check with their agents to ascertain the previous price levels done or check classified advertisements for the latest asking prices, experts say.
They should also try to get a bank valuation on the property they are eyeing, said HSR Property Group executive director Eric Cheng.
Those who want to buy a resale property now can bid below individual sellers’ asking prices. They could aim for 5 per cent to 8 per cent below asking levels, said Mr. Cheng.
Also, buyers should look for tenanted resale properties that can offer a 4 per cent to 5 per cent rental yield for at least the next year, said Mr. Ku Swee Yong, the director of marketing and business development at Savills Singapore.
‘In today’s market, it is wise to buy something that you can see and profit from immediately,’ he said.
The risk with new projects is that they could be delayed or their prices could fall from today’s levels, he said.
But, be prudent and patient, warned Mr. Cheng. ‘Don’t buy on impulse.’
If I fell in love with you Would you promise to be true? And help me understand 'Cause I've been in love before And I found that love was more Than just holding hands
If I give my heart to you I must be sure from the very start That you would love me more than her
If I trust in you, oh please Don't run and hide If I love you too, oh please Don't hurt my pride like her
'Cause I couldn't stand the pain And I would be sad If our new love was in vain
So I hope you see That I would love to love you And that she will cry When she learns we are two
'Cause I couldn't stand the pain And I would be sad If our new love was in vain
So I hope you see That I would love to love you And that she will cry When she learns we are two If I fell in love with you
I would take the stars out of the sky for you Stop the rain from falling if you asked me to. I'd do anything for you your wish is my command
I could move a mountain when your hand is in my hand. Words cannot express how much you mean to me. There must be some other way to make you see. If it takes my heart and soul you know I'd pay the price. Everything that I possess I'd gladly sacrifice.
Oh you to me are everything The sweetest song that I could sing Oh baby Oh baby To you I guess I'm just a clown Who picks you up each time you're down Oh baby Oh baby You give me just a taste of love To build my hopes upon. You know you've got the power girl To keep me holding on. So now you've got the best of me Come on and take the rest of me Oh baby
Though you're close to me we seem so far apart. Maybe given time you'll have a change of heart. If it takes forever girl then I'm prepared to wait. The day you give your love to me won't be a day too late
Oh you to me are everything. The sweetest song that I could sing. Oh baby Oh baby To you I guess I'm just a clown Who picks you up each time you're down Oh baby Oh baby You give me just a taste of love To build my hopes upon. You know you've got the power girl To keep me holding on. So now you've got the best of me Come on and take the rest of me Oh baby
Oh you to me are everything. the sweetest song that I could sing. (Your the sweetest song that I could sing.) Oh baby (oh baby) Oh baby (yes I need you baby) You to me are everything. The sweetest song that I could sing. Oh baby (you are everything to me) Oh baby (can't you see) You to me are everything. The sweetest song that I could sing. (Your the sweetest song that I could sing.) Oh baby Oh baby (you're everything) You to me are everything. The sweetest song that I could sing. Oh baby Oh baby (your the sweetest song) You to me are everything. The sweetest song that I could sing.
Look into my eyes - you will see What you mean to me Search your heart - search your soul And when you find me there you'll search no more Don't tell me it's not worth tryin' for You can't tell me it's not worth dyin' for You know it's true Everything I do - I do it for you
Look into my heart - you will find There's nothin' there to hide Take me as I am - take my life I would give it all I would sacrifice Don't tell me it's not worth fightin' for I can't help it there's nothin' I want more You know it's true Everything I do - I do it for you
There's no love - like your love And no other - could give more love There's nowhere - unless you're there All the time - all the way
Don't tell me it's not worth tryin' for I can't help it there's nothin' I want more I would fight for you - I'd lie for you Walk the wire for you - Ya I'd die for you
You know it's true Everything I do - I do it for you
9 comments:
Private Home Prices Fall
Developers offer soft discounts, for example, by absorbing legal fees
By Joyce Teo
28 December 2008
Private home prices are falling - and they will fall even more next year.
Property developers may disagree, but there is no question about it, if you ask industry observers.
The economy has slowed considerably and there have been retrenchments and wage cuts.
Sales volume of new homes looks set to reach an 18-year low this year, while supply is far from lacking.
‘In every bear market, no matter what the developers say, it will happen,’ Mr. Leong Sze Hian, the president of the Society of Financial Service Professionals, said of the price falls.
The only unknown, he added, is the extent of the fall.
Manpower Ministry data already shows that average monthly real earnings - pay minus the effect of inflation - fell by 17 per cent from $3,982 in the first quarter to $3,307 in the third quarter.
Also, on an annualised quarter-on-quarter basis, gross domestic product growth in the third quarter declined by 6.8 per cent, continuing the 5.3 per cent contraction experienced in the second quarter.
‘All these will filter through to the property market,’ said Mr. Leong.
Right now, most buyers are remaining on the sidelines. New launches are few, and there are not many desperate sellers out there yet.
‘Most are not feeling any pain from the recession yet. In the secondary market, many sellers are still hoping to do sub-sale at a profit,’ said Knight Frank’s director of research and consultancy, Mr. Nicholas Mak.
The result? There are no major price reductions yet, he said.
Going forward, though, there could be more speculators desperate to get rid of their properties because they do not want to be saddled with huge loans, experts say.
These are people who bought properties when the market was booming under the deferred payment scheme, which means they will have to pay the full sum for the property upon completion.
The Government has said some 10,450 units of private homes sold under the deferred payment scheme have yet to be completed. Some 2,540 units - largely bought during last year’s boom - will be completed in 2010.
In the new homes market, there will be more new property launches or re-launches after Chinese New Year late next month, consultants say.
Frasers Centrepoint, for one, has plans to release Caspian, its 700-unit condo near the Lakeside MRT station.
‘The smaller projects or those in less attractive locations will likely need to offer more discount,’ said Mr. Mak.
‘Others may offer soft discount, so that the prices reflected in the caveats will not be reduced.’
Soft discounts can take the form of furniture vouchers or the absorption of legal fees or stamp duty.
There could be price cuts in some mid-tier or prime developments where prices are ‘fairly toppish’, Mr. Mak said. ‘They would, thus, have to adjust their prices to a more reasonable level.’
Novelty Group, for one, last month cut its price for the 75-unit Luma at River Valley Grove from $2,800 per sq ft (psf) to $1,450 psf.
Recently, City Developments adjusted its price for the 77-unit Shelford Suites in Shelford Road to $1,400 psf from a preview price of $1,600 psf on average in June. The price then was already lower than expected, as two units were sold in March at $1,869 psf and $1,905 psf.
Those seeking information on new launches can check out the Urban Redevelopment Authority’s (URA’s) website, which offers monthly sales and price data on the 15th of every month.
It shows the number of units sold in the past month, as well as the median, lowest and highest prices done.
The URA website also has information on individual caveats lodged for properties sold, so you can find out the prices done at a particular condo.
The problem here is that the information is not very up-to- date because deals take time to complete and caveats take time to lodge.
The price data can easily be two to three months old, which can be a long time in today’s fast-moving market.
Potential buyers should check with their agents to ascertain the previous price levels done or check classified advertisements for the latest asking prices, experts say.
They should also try to get a bank valuation on the property they are eyeing, said HSR Property Group executive director Eric Cheng.
Those who want to buy a resale property now can bid below individual sellers’ asking prices. They could aim for 5 per cent to 8 per cent below asking levels, said Mr. Cheng.
Also, buyers should look for tenanted resale properties that can offer a 4 per cent to 5 per cent rental yield for at least the next year, said Mr. Ku Swee Yong, the director of marketing and business development at Savills Singapore.
‘In today’s market, it is wise to buy something that you can see and profit from immediately,’ he said.
The risk with new projects is that they could be delayed or their prices could fall from today’s levels, he said.
But, be prudent and patient, warned Mr. Cheng. ‘Don’t buy on impulse.’
If I fell - Rita Lee
If I fell in love with you
Would you promise to be true?
And help me understand
'Cause I've been in love before
And I found that love was more
Than just holding hands
If I give my heart to you
I must be sure from the very start
That you would love me more than her
If I trust in you, oh please
Don't run and hide
If I love you too, oh please
Don't hurt my pride like her
'Cause I couldn't stand the pain
And I would be sad
If our new love was in vain
So I hope you see
That I would love to love you
And that she will cry
When she learns we are two
'Cause I couldn't stand the pain
And I would be sad
If our new love was in vain
So I hope you see
That I would love to love you
And that she will cry
When she learns we are two
If I fell in love with you
永远的恋人 - 张宇
这些话只说一次
我真心让你走
那双更温柔的手
将来你要好好的握
既然走他的路
不要再等谁回头
我的祝福
就这么多
从今後若还能相逢
请安静从身边走过
你只要低头
别叫住我
给我个背影就够
我忍著痛 和你挥手
不答应你任何要求
因为对你有爱
就不能成为朋友
你要为我幸福地活著
全心全意爱爱你的人
只有你快乐
我才有我的人生
这些话只说一次
我真心让你走
那双更温柔的手
将来你要好好的握
既然走他的路
不要再等谁回头
我的祝福
就这么多
从今後若还能相逢
请安静从身边走过
你只要低头
别叫住我
给我个背影就够
我忍著痛 和你挥手
不答应你任何要求
因为对你有爱
就不能成为朋友
你要为我幸福地活著
全心全意爱爱你的人
只有你快乐
我才有我的人生
你要为我幸福地活著
全心全意爱爱你的人
只有你快乐
我才有我的人生
只有你快乐
我才有我的人生
只有你快乐
我才有我的人生
等无人 - 尤雅
为着心爱伊一人
嘴唇嘴皮抹红红
来到昔日
惜别的渔港
等君伊回航
望呀望呀等呀等
等无心爱船入港
无采我无采我
装甲美当当
海风笑我是戆人
海鸟笑我空等
Meaning of LOVE
看着那个小孩戴着树花做成的皇冠在跳舞，树就充满了喜悦，他怀着爱心在点数头，在微风中轻声歌唱。
小孩渐渐长大，他开始爬到树上，借着树枝摆动，当那个小孩在树枝上休息的时候，树就感 到很高兴。
当爱给于某人舒服时，它就感到快乐。
随着时间的经过，那个小孩有了其他的责任，他的野心增加了。
他必须通过考试，有朋友要聊天，闲逛。
小孩并不常来，但是树渴望地等待他的来临，他从心灵深处呐喊着：'来！我在等着你。'
爱日夜都在等待，一直在等待。
当男孩没有来的时候，树就感到伤心。
当爱不能分享的时候，它是哀伤的。
当爱不能够给予的时候，它是悲痛的。
但爱能够分享的时候，它是感激的。
男孩继续成长，他来到树旁的机会越来越少。
当一个人变大，野心增多，他就会发觉留给爱的时间越来越少。
男孩现在已经专注在世俗的事情。
有一天，当他经过的时候，树告诉他。
'我在等你，但是你都没来，我每天都在等你。'
男孩说：'你有什么东西？为什么我要到你这里来？你有钱吗？我在追求金钱。'
自我总是要有动机来激发，唯有目的要达成的时候，自我才会来，但爱是没有这样的动机的 ，爱就是它本身的报赏。
树惊讶地问道：'是不是当我能够给你什么东西的时候，你才会来？'
拒绝给予并不是爱。
自我总是在积聚，但爱是无条件地给予。
树说：'我们很快乐，我们开花，结果，我们给予舒服的树荫，我们在微风中跳舞，歌唱，即使我们什么钱都没有，天真无邪的鸟儿也会在我们的树枝上吱吱喳喳地跳来跳去，当我们涉及金钱的那一天，就会像你们这些脆弱的人一样，也要到庙里去学习如何获得安宁，如何找到爱，不，我们一点都不需要金钱。'
男孩说：'那我为什么要到你这里来呢？我要到有钱的地方去，我需要钱。'
自我要求钱，因为它需要权利。
树想了一下，然后说：'亲爱的，请不要走开，摘下我的果实，将它买了，这样你就可以得到钱。'
男孩马上开朗起来，他爬上树上摘下所有的果实，甚至没有成熟的果实也被摇了下来。
树感到很快乐，虽然有一些树枝被折断了，也有一些叶子掉到地上。
即使受了伤，爱还是会感到快乐。
但即使获得，自我仍然不会快乐，自我总是欲求更多。
树没有注意到，男孩甚至没有回过头来谢它一声。
当男孩同意数的提议要摘下果实来买，树就已经有了它的感谢。
男孩很久都没有回来，他已经有钱了，正在忙着用那些钱去赚取更多的钱，他把树全忘了。
几年过去了，树感到悲伤，他渴望男孩回来，树的内心在呐喊着。
经过很多年，男孩已经长大成人了，他来到树旁。
树说：'来，我的孩子，来拥抱我。'
那个人说：'停止感情的沉溺，那是小孩子的玩意儿，我已经不再是小孩子了。'
自我把爱看成是疯狂，看成是幼稚的幻想。
但是，树依然邀请他：'来，在我的树枝上摆荡，来跳舞。'
那个人说；'停止这些无聊的话！我要盖房子，你能够给我一个房子吗？'
树喊道：'一个房子？我没有房子。'
当人被局限在四面墙里时，它的建筑物越大，它的人就变得越小。
'我们不住在房子里，但你可以砍我的树枝，或许可以用他们来盖房子。'
那个人丝毫不浪费时间，用斧头砍下所有的树枝，只剩下赤裸裸的树干，但是爱不会介意这 些事情，即使它的四肢为了所爱的人而被砍下，它也不会介意。
爱永远都准备要给予。
那个人盖好了房子，时光飞逝，有过了几年。
树干不停地等待着，它想要去接他来，但是它既没有了树枝，也没有了树叶，它甚至没办法给风一个讯息，它等待着，但是什么事都没有发生。
随着时间的经过，那个人已经变老了，又一次他经过树，站在树的旁边。
树问道：'我还能为你做些什么？'
那老人说；'你还能为我做什么？我要到远方去赚更多的钱，我需要一艘船作旅行之用。'
树很高兴地说：'那没有问题，我的爱人，砍掉我的树干，用他来造一艘船。'
'如果我能够帮助你到远方赚钱，我会很高兴，但是请你记住，我会一直等着你回来。'
那个人带来了一把锯子，把树干锯下，造了一艘船就行向远方了。
现在树只剩下小小的树桩，而它在等待着爱人归来，等待又等待，但是那个人一直都没有回 来，它已没有东西可以在提供了。
自我不会去没有东西可以获得的地方。
自我永远是一个乞丐，一直都处于需求中。
但爱是给予，一直都是......
わかれうた - 中島みゆき
途にたおれて誰かの名を
呼びつづけたことがありますか
ひとごとに言うほどたそがれは
やさしい人好しじゃありません
別れの気分に味をしめて
あなたは私の戸をたたいた
私は別れを忘れたくて
あなたの目を見ずに戸を開けた
別れはいつもついてくる
幸せのうしろをついてくる
それが私のくせなのか
いつもめざめればひとり
あなたは憂いを身につけて
うかれまちあたりで名を上げる
眠れない私はつれづれに
わかれうた今夜もくちずさむ
誰がなづけたか私には
わかれうたうたいの影がある
好きでわかれうたうはずもない
ほかに知らないからくちずさむ
恋の終りはいつもいつも
たちさるものだけが美しい
残されてとまどうものたちは
追いかけてこがれて泣き狂う
別れはいつもついてくる
幸せのうしろをついてくる
それが私のくせなのか
いつもめざめればひとり
あなたは憂いを身につけて
うかれまちあたりで名を上げる
眠れない私はつれづれに
わかれうた今夜もくちずさむ
YOU TO ME ARE EVERYTHING - the real thing
I would take the stars out of the sky for you
Stop the rain from falling if you asked me to.
I'd do anything for you
your wish is my command
I could move a mountain when your hand is in my hand.
Words cannot express how much you mean to me.
There must be some other way to make you see.
If it takes my heart and soul
you know I'd pay the price.
Everything that I possess I'd gladly sacrifice.
Oh you to me are everything
The sweetest song that I could sing
Oh baby
Oh baby
To you I guess I'm just a clown
Who picks you up each time you're down
Oh baby
Oh baby
You give me just a taste of love
To build my hopes upon.
You know you've got the power girl
To keep me holding on.
So now you've got the best of me
Come on and take the rest of me
Oh baby
Though you're close to me
we seem so far apart.
Maybe given time you'll have a change of heart.
If it takes forever
girl then I'm prepared to wait.
The day you give your love to me won't be a day too late
Oh you to me are everything.
The sweetest song that I could sing.
Oh baby
Oh baby
To you I guess I'm just a clown
Who picks you up each time you're down
Oh baby
Oh baby
You give me just a taste of love
To build my hopes upon.
You know you've got the power girl
To keep me holding on.
So now you've got the best of me
Come on and take the rest of me
Oh baby
Oh you to me are everything.
the sweetest song that I could sing.
(Your the sweetest song that I could sing.)
Oh baby (oh baby)
Oh baby (yes I need you baby)
You to me are everything.
The sweetest song that I could sing.
Oh baby (you are everything to me)
Oh baby (can't you see)
You to me are everything.
The sweetest song that I could sing.
(Your the sweetest song that I could sing.)
Oh baby
Oh baby (you're everything)
You to me are everything.
The sweetest song that I could sing.
Oh baby
Oh baby (your the sweetest song)
You to me are everything.
The sweetest song that I could sing.
Prisoner Of Love - Hikaru Utada (宇多田ヒカル)
作詞/作曲: Hikaru Utada
I'm a prisoner of love
Prisoner of love
Just a prisoner of love
I'm just a prisoner of love
A prisoner of love
平気な顔で嘘をついて
笑って 嫌気がさして
楽ばかりしようとしていた
ないものねだりブルース
皆安らぎを求めている
満ち足りてるのに奪い合う
愛の影を追っている
退屈な毎日が急に輝きだした
あなたが現れたあの日から
孤独でも辛くても平気だと思えた
I’m just a prisoner of love
Just a prisoner of love
病める時も健やかなる時も
嵐の日も晴れの日も共に歩もう
I’m gonna tell you the truth
人知れず辛い道を選ぶ
私を応援してくれる
あなただけを友と呼ぶ
強がりや欲張りが無意味になりました
あなたに愛されたあの日から
自由でもヨユウでも一人じゃ虚しいわ
I’m just a prisoner of love
Just a prisoner of love
Oh もう少しだよ
Don’t you give up
Oh 見捨てない 絶対に
残酷な現実が二人を引き裂けば
より一層強く惹かれ合う
いくらでもいくらでも頑張れる気がした
I’m just a prisoner of love
Just a prisoner of love
ありふれた日常が急に輝きだした
心を奪われたあの日から
孤独でも辛くても平気だと思えた
I’m just a prisoner of love
Just a prisoner of love
Stay with me, stay with me
My baby, say you love me
Stay with me, stay with me
一人にさせない
Everything I do, I do it for you - Bryan Adams
Look into my eyes - you will see
What you mean to me
Search your heart - search your soul
And when you find me there you'll search no more
Don't tell me it's not worth tryin' for
You can't tell me it's not worth dyin' for
You know it's true
Everything I do - I do it for you
Look into my heart - you will find
There's nothin' there to hide
Take me as I am - take my life
I would give it all I would sacrifice
Don't tell me it's not worth fightin' for
I can't help it there's nothin' I want more
You know it's true
Everything I do - I do it for you
There's no love - like your love
And no other - could give more love
There's nowhere - unless you're there
All the time - all the way
Don't tell me it's not worth tryin' for
I can't help it there's nothin' I want more
I would fight for you - I'd lie for you
Walk the wire for you - Ya I'd die for you
You know it's true
Everything I do - I do it for you
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