Property Market Sentiments

[Tiggerbee]

Any one went to Skywoods yet? Heard its launched... Hock Lian Seng's first one I think

It's a JV between Hock Lian Seng, TA corp (subsidiary of Tiong Aik) and King Wan.

We are currently in the late bull phase of the property cycle so we should start to see condos with less ideal location (not near to MRT) taking the hit. The CEO of TA corp stated that it's not that there are no buyers but they can't secure a loan from the bank (about one third he of the potential buyers he said). It's as good as saying that demand has dropped by one third due to the cooling measure.

---

I heard that Wingtai had closed the Tembusu showflat on weekends to avoid giving the impression that there is low demand on weekdays. It's a buyers market now.

If buyers are patient and in no need to buy properties, SGX listed developers will slash prices even further as they need to sell their condos in 2 years time upon TOP to avoid being penalized by the government. Plus they need to pay interest to the banks. That's why private companies like Far East can hold on to their properties for years as they are not subjected to this ruling.