Singapore private residential property market finally has its full year report card when URA released real estate statistics for 4th quarter 2018 early this week. As the year of the dog is coming to a close, let’s review the performance of the housing market and the four lessons we learned last year in this youtube video:
Lesson 1: You can’t wrap fire in paper
Lesson 2: Never lose your head over FOMO
Lesson 3: Developers’ stomach isn’t a bottomless pit
Lesson 4: Your home can be a depreciating liability
You can now watch the podcast below. If you want to read the script, turn on the “cc” button – the leftmost button at the bottom right hand corner.
If you like this video, please give me a “Like” and subscribe to my youtube channel.
And don’t forget to watch the video presentations of the Year of the Pig Property Strategies.
“Happy Lunar New Year” to all. Lovely CNY Eve’s podcast.
Thanks for watching. Happy Chinese New Year!
Happy CNY, all in good health and wealth. Gong Xi Fa Cai.
A very Happy Lunar New Year to all. Just want to provide a side note on something to take note of on OUE. Though it may be much ado about nothing, it is an interesting point to monitor nonetheless. I am just citing from memory here and hence, content may not be entirely accurate (i.e. dyodd). Took some time to read OUE financial report (3Q18) during the hols and came away with the following information; DPS payment for Twin Peaks which is coming due in less than a year is about S$50m and there is a fair value loss of about S$12m on 22 units which was transferred from development properties to investment properties. I must say that the second point fluctuates between gains/losses from Q to Q and hence, not much to gather from there unless the trend is a on a regular downslide. What will be interesting is the first point… something to take note of as we await the next few quarters of report to see if there are any problems down DPS lane. Alrighty, have fun and make merry during the festive pd. We will feast when the aircraft carriers change their courses… soon.
Hi again, a correction to the first point mentioned in the earlier post. It appears that the S$50m is – “Deferred income” relates to the non-refundable deposits received from the OUE Twin Peaks units sold under deferred payment schemes. Revenue from deferred payment schemes are deferred and will be recognised on completion of the sale of the unit (Quote from OUE 3Q18 Financial Report). Hence, I think we have to wait for the AR to fully know the extent of the DPS units due this year. Apologies for the misinformation. Continue to have fun, Gong Xi Fa Cai
No offence but It’s really odd that you call yourself property soul and a property guru when you are singularly always negative after you have unloaded your own exposure. May be better to give a balanced view?
Thank you. But I am not a property guru, only a fellow property investor.
You know back in the 2000s, people often said I am too optimistic and too naive for buying so many properties. After all these years, I know at least 10 times more than last time. The best is I now have the privilege to say the truth that earns the respect from followers. Who cares what the others think anyway?
Dear Property Soul – well answered. I actually have numerous SG properties, including landed and condos, but find that it is really strenuous to add more currently ygiven the ABSD which I disagree with on a principle basis. That said, I am still hunting but find selling prices still rather sticky in the high side. I make money when others sell cheap and in panic. Unfort, I don’t see that in this current market yet. Let’s see what happens.
Hi property soul,
Very accurate account, the cat is out of the bag.
https://www.straitstimes.com/business/some-developers-extending-options-to-lock-in-buyers
Expose on misleading actions. Should the government act on these Developers?
According to the Business Times article (https://www.businesstimes.com.sg/real-estate/developers-re-issuing-options-amid-cooling-market-launch-bonanza), developers that exaggerated their new launch sales numbers and named by the Credit Suisse report include CDL, Oxley Holdings, Chip Eng Seng, MCL Land and Logan Property. These are no doubt unscrupulous acts but may not be illegal. They are making use of the current loopholes (data based on voluntary reporting).