(23-08-2019, 09:27 AM)pencilin Wrote: [ -> ]"Probably to allow mix of society and not just elites" -- It is applicable now, because Sentosa Cove is a failure. The rich aren't interested to migrate to a fantasy island with humid weather and limited growth prospects. They did try to create an Elite area, similar to Monaco.
With tourist spending falling, it's good to bring in more locals to the area to liven up the area. Hopefully supply Sentosa with more local tourist, and support more variety of goods and services.
I thought the purpose is to allow foreign investors with more lax rule allowed in Sentosa. No ?
(23-08-2019, 10:10 AM)corydorus Wrote: [ -> ] (23-08-2019, 09:18 AM)pencilin Wrote: [ -> ]Nothing is wasted here. Currently a few projects from Shenton way till Vivocity are not doing very well. You can drive around the entire stretch at 8 PM, around 70% of the units are dark. There are many unsold units there.
There is insufficient demand for condo. So the next group of buyer is richer-HDB-locals, who can't afford to pay $1500 psf. The government did a good job on maximizing profit with Price Discrimination.
What I mean if you to sell as entire condo project vs HDB on same plot of land regardless where, surely there is more returns to national reserve if is condo.
No demand. If sell as condo project, it will worsen the oversupply situation. And cause Keppel Reflection (beside vivocity), and Silversea (east coast area) to suffer more.
(23-08-2019, 10:13 AM)corydorus Wrote: [ -> ] (23-08-2019, 09:27 AM)pencilin Wrote: [ -> ]"Probably to allow mix of society and not just elites" -- It is applicable now, because Sentosa Cove is a failure. The rich aren't interested to migrate to a fantasy island with humid weather and limited growth prospects. They did try to create an Elite area, similar to Monaco.
With tourist spending falling, it's good to bring in more locals to the area to liven up the area. Hopefully supply Sentosa with more local tourist, and support more variety of goods and services.
I thought the purpose is to allow foreign investors with more lax rule allowed in Sentosa. No ?
Yes. But foreigners aren't interested. Just Google for Sentosa Cove news, the units are selling at half price right now. Still not doing well
The only lax rule is to allow foreigner to own Freehold landed units. But it cost absurd $30m. With the same budget, you can stay at San Jose, next to Mark Zukerberg
(23-08-2019, 10:30 AM)pencilin Wrote: [ -> ] (23-08-2019, 10:13 AM)corydorus Wrote: [ -> ] (23-08-2019, 09:27 AM)pencilin Wrote: [ -> ]"Probably to allow mix of society and not just elites" -- It is applicable now, because Sentosa Cove is a failure. The rich aren't interested to migrate to a fantasy island with humid weather and limited growth prospects. They did try to create an Elite area, similar to Monaco.
With tourist spending falling, it's good to bring in more locals to the area to liven up the area. Hopefully supply Sentosa with more local tourist, and support more variety of goods and services.
I thought the purpose is to allow foreign investors with more lax rule allowed in Sentosa. No ?
Yes. But foreigners aren't interested. Just Google for Sentosa Cove news, the units are selling at half price right now. Still not doing well
The only lax rule is to allow foreigner to own Freehold landed units. But it cost absurd $30m. With the same budget, you can stay at San Jose, next to Mark Zukerberg
This is more with the property curbs where high priced seeing more delta. Even with half price, is still worth a lot more than selling HDB in Sentosa.
.
Profit maximisation is probably not, and should not be, the main purpose of government, which we have already experienced the after-effect after the 1990s "Singapore Inc" ideology. That is not to say to sell at ridiculous discount but to have a thoughtful consideration to different stakeholders.
Having a good racial, class mix, sustainable development with infrastructure, long term planning is our strength. We can easily contrast that with our neighbours and even HK
(23-08-2019, 12:16 PM)specuvestor Wrote: [ -> ]Profit maximisation is probably not, and should not be, the main purpose of government, which we have already experienced the after-effect after the 1990s "Singapore Inc" ideology. That is not to say to sell at ridiculous discount but to have a thoughtful consideration to different stakeholders.
Having a good racial, class mix, sustainable development with infrastructure, long term planning is our strength. We can easily contrast that with our neighbours and even HK
If you stand for election, I will vote for you.
(23-08-2019, 10:30 AM)pencilin Wrote: [ -> ] (23-08-2019, 10:13 AM)corydorus Wrote: [ -> ] (23-08-2019, 09:27 AM)pencilin Wrote: [ -> ]"Probably to allow mix of society and not just elites" -- It is applicable now, because Sentosa Cove is a failure. The rich aren't interested to migrate to a fantasy island with humid weather and limited growth prospects. They did try to create an Elite area, similar to Monaco.
With tourist spending falling, it's good to bring in more locals to the area to liven up the area. Hopefully supply Sentosa with more local tourist, and support more variety of goods and services.
I thought the purpose is to allow foreign investors with more lax rule allowed in Sentosa. No ?
Yes. But foreigners aren't interested. Just Google for Sentosa Cove news, the units are selling at half price right now. Still not doing well
The only lax rule is to allow foreigner to own Freehold landed units. But it cost absurd $30m. With the same budget, you can stay at San Jose, next to Mark Zukerberg
The developers are already laughing to the bank already. They were marked high ends. As said the Curbs do the in which why the market price today.
(23-08-2019, 12:16 PM)specuvestor Wrote: [ -> ]Profit maximisation is probably not, and should not be, the main purpose of government, which we have already experienced the after-effect after the 1990s "Singapore Inc" ideology. That is not to say to sell at ridiculous discount but to have a thoughtful consideration to different stakeholders.
Having a good racial, class mix, sustainable development with infrastructure, long term planning is our strength. We can easily contrast that with our neighbours and even HK
That's in essence what I said earlier but the down side is I don't think commoners will have good chance to get those HDB. Is those who are connected will get to select eg. grassroots ? Civil servants ?
.
(23-08-2019, 01:48 PM)corydorus Wrote: [ -> ] (23-08-2019, 10:30 AM)pencilin Wrote: [ -> ] (23-08-2019, 10:13 AM)corydorus Wrote: [ -> ] (23-08-2019, 09:27 AM)pencilin Wrote: [ -> ]"Probably to allow mix of society and not just elites" -- It is applicable now, because Sentosa Cove is a failure. The rich aren't interested to migrate to a fantasy island with humid weather and limited growth prospects. They did try to create an Elite area, similar to Monaco.
With tourist spending falling, it's good to bring in more locals to the area to liven up the area. Hopefully supply Sentosa with more local tourist, and support more variety of goods and services.
I thought the purpose is to allow foreign investors with more lax rule allowed in Sentosa. No ?
Yes. But foreigners aren't interested. Just Google for Sentosa Cove news, the units are selling at half price right now. Still not doing well
The only lax rule is to allow foreigner to own Freehold landed units. But it cost absurd $30m. With the same budget, you can stay at San Jose, next to Mark Zukerberg
The developers are already laughing to the bank already. They were marked high ends. As said the Curbs do the in which why the market price today.
The Curbs not effective against Rich foreigners. If they want the property, 15% extra in Stamp duty can't stop them
Curb is an excuse to mask the fact of poor foreign demand.
(23-08-2019, 02:14 PM)pencilin Wrote: [ -> ] (23-08-2019, 01:48 PM)corydorus Wrote: [ -> ] (23-08-2019, 10:30 AM)pencilin Wrote: [ -> ] (23-08-2019, 10:13 AM)corydorus Wrote: [ -> ] (23-08-2019, 09:27 AM)pencilin Wrote: [ -> ]"Probably to allow mix of society and not just elites" -- It is applicable now, because Sentosa Cove is a failure. The rich aren't interested to migrate to a fantasy island with humid weather and limited growth prospects. They did try to create an Elite area, similar to Monaco.
With tourist spending falling, it's good to bring in more locals to the area to liven up the area. Hopefully supply Sentosa with more local tourist, and support more variety of goods and services.
I thought the purpose is to allow foreign investors with more lax rule allowed in Sentosa. No ?
Yes. But foreigners aren't interested. Just Google for Sentosa Cove news, the units are selling at half price right now. Still not doing well
The only lax rule is to allow foreigner to own Freehold landed units. But it cost absurd $30m. With the same budget, you can stay at San Jose, next to Mark Zukerberg
The developers are already laughing to the bank already. They were marked high ends. As said the Curbs do the in which why the market price today.
The Curbs not effective against Rich foreigners. If they want the property, 15% extra in Stamp duty can't stop them
Curb is an excuse to mask the fact of poor foreign demand.
Do you know the first thing our CDL developer asked is to remove ABSD for foreigners ?
