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 09 Oct 08 11:20 am |
| Anonymous wrote: | | its more like already hit but rosy pictures are still being painted to quell fears. |
Well, at least now 1 AUD = 1 SGD....forget about buying property in Singapore lah...go and buy in Aussie instead. |
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09 Oct 08 4:27 pm |
| toa payoh and amk got 5 room selling below valuation for a few week and a few months respectively but still no takers... something wrong some where. really terok terok unit or no one want to buy anymore. |
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09 Oct 08 4:50 pm |
| Anonymous wrote: | | toa payoh and amk got 5 room selling below valuation for a few week and a few months respectively but still no takers... something wrong some where. really terok terok unit or no one want to buy anymore. |
this is beacuse resale makret entering freezing stage instead of earlier cooling down...
Merrill reduces Singapore to underweight Move follows downgrades in property and banking sectors
By OH BOON PING
Building trap: Merrill expects residential prices to fall by 10% this year and 25% in 2009
In a report, the investment house said it has cut the portfolio weighting for Singapore to 4.27 per cent - below the benchmark weighting of 5.14 per cent.
'Although Singapore initially scores well in our model, our Singapore property and banking analysts have downgraded their respective sectors. As these two sectors account for around half of market cap, we are overriding the model to bring Singapore to a heavy underweight.'
For example, its banking analyst Andrew Maule believes a protracted slowdown in the property market will impact profits in 2009.
Specifically, loan growth is expected to slow to mid-single digits from the current 26 per cent year-on-year, while weaker capital markets and reduced appetite for wealth management products will likely hurt market-sensitive revenues.
As for real estate, the research house thinks any chance for a recovery in the second half of this year has disappeared with the deterioration in the economy. For example, it expects residential prices to fall by 10 per cent this year and 25 per cent in 2009.
With demand weak and high inventories, it does not see property stabilising before 2010. Meanwhile, office capital values have peaked due to rising debt cost and lower rentals ahead.
Furthermore, Singapore is exposed to the global slowdown more than other countries, as its exports-to- GDP ratio is the highest in the region, the report adds.
In August, non-oil domestic exports from the city state worsened - sinking 14 per cent from a year ago - the fourth straight monthly drop and the biggest decline since December 2006.
Similarly, factory output shrank 12.2 per cent year-on-year in August on a 35.7 per cent contraction in the pharmaceuticals segment.
The analysts felt that Singapore stocks are not backed by earnings, where 12-month forward earnings from June are up just 4 per cent year-on-year and valuations are not especially cheap either. Least preferred stocks are Singapore Exchange, CapitaLand and Keppel Land.
Elsewhere in the region, Merrill issued mild underweights on India, Taiwan and the Philippines, but has a heavy overweight on China, Hong Kong and Australia |
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10 Oct 08 11:04 am |
| cooling no more....! |
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10 Oct 08 2:58 pm |
| its more like cracking now! |
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10 Oct 08 3:07 pm |
| Anonymous wrote: | | Anonymous wrote: | rebounce lah. then will down again to look for the bottom. So, yesterday one is not the bottom yet. Later get worse, when reach the worst, that is the bottom.
HSI up 7% you call rebounce.Oh.. another sour grapesDow up 1000 pts you also call rebounce. So when dow hits 15000 you also said rebounce?
Bet with me lah, this point onwards, STI will not see 2500 anymore. |
STI below 2200  |
STI not even 2000 now... shld have bet with L0ser Guy... |
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10 Oct 08 3:10 pm |
| Maybe that is the reason why the Loser Guy is not around anymore... or maybe he is around but don't dare to post as he is deeply ashamed that he eats his own S@%T |
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10 Oct 08 4:03 pm |
| Bet with me lah, this point onwards, STI will not see 1500 anymore |
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10 Oct 08 4:36 pm |
" 10 Oct 08 4:03 pm
Bet with me lah, this point onwards, STI will not see 1500 anymore
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there goes again.....
lay down your bucks......
how much will you bet.....????? |
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10 Oct 08 7:32 pm |
| Your house! |
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11 Oct 08 8:34 am |
| wow 1500, i can buy SIA soon. |
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11 Oct 08 12:35 pm |
| Anyone notice that today's HDB ads have very very little mentions of COVs? I don't think that means these flats are sold without COV. It is very different from what was happening 3-4 weeks back. |
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11 Oct 08 1:19 pm |
| Yes, I have called to fews ads without COVs, those agents still asking for COV 10k, they scared already that's why didn't mentions COVs .... bery good, now its the buyers time.... |
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11 Oct 08 5:20 pm |
| Anonymous wrote: | | Yes, I have called to fews ads without COVs, those agents still asking for COV 10k, they scared already that's why didn't mentions COVs .... bery good, now its the buyers time.... |
AMK flat central area are asking at valuation.... if still no buyer, what will be next?? sbv sell below valuation i think |
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11 Oct 08 5:31 pm |
| Anonymous wrote: | | Yes, I have called to fews ads without COVs, those agents still asking for COV 10k, they scared already that's why didn't mentions COVs .... bery good, now its the buyers time.... |
I also called a few units today and they have cut down the cov drastically. The agents are also trying to convince me to view and claim some of the units are view to offer. I don't want to rush and buy now. I remember some "guru" here in this forum said " buy now and commit suicide later". |
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11 Oct 08 11:53 pm |
I just called my agent to inform him that i do not wish to exercise my option to purchase for a EA that i have paid $1000 booking fee. My friends have warned me that the market is going to drop drastically and the larger the flat size the heavier the fall. When i called my agent and informed him about my intention, he very calmly said that i was the third person to cancel on that week. He offered me to re negotiate with the seller to sell at valuation citing the past week's developments. That could save me the 18k cov, but I rejected it and said i would rather wait. He told me he will forward the message to the the seller.
I pity the sellers. I also pity the agent. Anyway I intend to use the same agent to look for a rental flat for me. |
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12 Oct 08 12:30 am |
| Some agnets called me today also convince me to view some units are View To offer.. I told him I not interested in those VTO units. His sound like not happy, and says that US crack are not affected spore... you guys believe? |
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12 Oct 08 12:33 am |
| Anonymous wrote: | | Anonymous wrote: | | Yes, I have called to fews ads without COVs, those agents still asking for COV 10k, they scared already that's why didn't mentions COVs .... bery good, now its the buyers time.... |
AMK flat central area are asking at valuation.... if still no buyer, what will be next?? sbv sell below valuation i think |
agreed |
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12 Oct 08 2:02 am |
| Anonymous wrote: | | Anonymous wrote: | | Yes, I have called to fews ads without COVs, those agents still asking for COV 10k, they scared already that's why didn't mentions COVs .... bery good, now its the buyers time.... |
AMK flat central area are asking at valuation.... if still no buyer, what will be next?? sbv sell below valuation i think |
SBV! i'm waiting!! |
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