FAPee Making $$$ From Land Sales Woh!

[makapaaa]

<TABLE border=0 cellSpacing=0 cellPadding=0 width=452><TBODY><TR><TD vAlign=top width=452 colSpan=2>Published April 12, 2010

</TD></TR><TR><TD vAlign=top width=452 colSpan=2>Govt launched 8 sites for about 3,340 units in Q1
Move comes amid developers' clamour to replenish their shrinking landbanks

By UMA SHANKARI
(SINGAPORE) The government launched eight residential sites - which can yield an estimated 3,340 private and executive condominium homes - in Q1 2010, as developers clamoured for plots to replenish shrinking landbanks and buyers continued to snap up new homes.

<TABLE class=picBoxL cellSpacing=2 width=100 align=left><TBODY><TR><TD></TD></TR><TR class=caption><TD></TD></TR></TBODY></TABLE>Five of the sites - on which some 2,175 housing units can be built - have been sold to date. The tenders for the remaining three sites will close in the next few weeks.
In contrast, no sites were launched or sold by the state in Q1 2009 amid a depressed property market.
'The government is responding to developers, who are short of land, as well as consumers, because of how the market has been behaving,' said Knight Frank chairman Tan Tiong Cheng.
Most of the sites launched for sale by tender in Q1 2010 are for mass market homes, as 'mass market projects that have been launched have been very successful', he added.
The government pushed out new supply as demand for new homes continued unabated. Analysts estimate that 3,600-4,000 homes were sold in the first three months of this year - more than double the 1,860 units sold in Q4 2009.
The launch and sale momentum is expected to continue into Q2. Property firm CB Richard Ellis expects developers to sell around 3,000 new homes this quarter and said that the government land sales programme will be a 'viable source' for developers to replenish their stocks.
Analysts welcome the fact that the spotlight has turned to landbanking and launches instead of policy tightening talk.
Adrian Chua of DBS Vickers said that last week's triggering of two sites on the government's reserve list - a 1.9 ha white site in Jurong Lake District and a 3.02 ha residential site at Hougang Avenue 2 - shows that appetite for land remains strong and developers are taking the initiative.
Six tenders for private residential and executive condominium sites put up for sale by the government - including three for sites that were launched in Q1 2010 - are expected to close in April and May.
'The strong sale calendar is expected to be positive for developers looking for landbanks, particularly those that are active in the mass-market segment,' said Mr Chua.
With significant supply in the pipeline, private home prices are expected to rise at a gradual pace, held in check by the government measures and financial prudence on the part of buyers, analysts reckon.
The market appears to be stabilising, according to Foo Sze Ming of OCBC Investment Research. The Urban Redevelopment Authority's official price index for private homes showed prices rose 5.1 per cent in Q1 2010 - slower than the 7.4 per cent clip in Q4 2009 and 15.8 per cent rate in Q3 2009.
In the HDB resale market, prices gained 2.7 per cent quarter-on-quarter in Q1 2010 - a slower rate of increase in comparison to 3.9 per cent in Q4 2009 and 3.6 per cent in Q3.
'Recent government measures were aimed at achieving stability in the property market, and with the latest data showing signs of stabilisation, this could ease concerns of further government intervention in the property market and drive the re-rating of Singapore property developers,' Mr Foo said.
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[makapaaa]

<TABLE border=0 cellSpacing=0 cellPadding=0 width=452><TBODY><TR><TD vAlign=top width=452 colSpan=2>Published April 12, 2010

</TD></TR><TR><TD vAlign=top width=452 colSpan=2>Diamond Tower in Balestier sold in collective sale

By KALPANA RASHIWALA

(SINGAPORE) EL Development has inked a deal to buy the freehold Diamond Tower at Jalan Rajah in the Balestier area for $49.6 million through a collective sale.

<TABLE class=picBoxL cellSpacing=2 width=100 align=left><TBODY><TR><TD></TD></TR><TR class=caption><TD>The plan: EL Development, which bought the freehold property for $49.6 million, plans to build an 18-20 storey apartment block with about 100 units</TD></TR></TBODY></TABLE>The price works out to a unit land price of about $652 per square foot of potential gross floor area inclusive of an estimated $300,000 development charge payable to the state.
Diamond Tower has a land area of about 27,323 sq ft and is zoned for residential use with a 2.8 plot ratio (ratio of maximum potential gross floor area to land area).
'We intend to build an 18-20 storey apartment block with about 100 units, mostly one and two bedroom units but we'll also have some three bedders,' EL Development managing director Lim Yew Soon said when contacted by BT.
The breakeven cost for a new apartment development based on today's construction costs works out to about $1,200 psf.
BT understands that EL Development may enter into a partnership with another party, said to be construction group Teambuild, for the site's acquisition.
Diamond Tower's collective sale was marketed by Urban Front Real Estate. It was offered through a tender exercise which closed last month without a deal being sealed.
'We submitted our offer after that and are buying under a private treaty deal,' Mr Lim said.
The proposed collective sale of Diamond Tower will be subject to approval from Strata Titles Board as its owners have not unanimously consented to the sale.
Developers have been hungry for land, following strong home sales over the past year.
Property consultants say that while the bigger developers with deep pockets are focusing on the Government Land Sales Programme to replenish their landbank, smaller and mid-sized players on smaller budgets are aggressively looking for land through private sources.
'They are interested in smaller collective sale sites as well as redevelopment plots comprising a few landed homes. There are also investors/developers who may have bought land in the past and who are willing to divest now,' says DTZ senior director, investment sales, Shaun Poh.
EL Development's Mr Lim acknowledges that developers like him are 'not that choosy location wise' these days and that a more important criterion is to find sites with pricing that is 'more acceptable'.
'Districts like 9, 10, 11 and 15 are very popular but sites in these areas command very high price premiums; so we'll consider even other districts.
'For us, the site should be at least 20,000 sq ft and it should also be a regular shaped plot of land so we can build a project with a decent-sized swimming pool,' he said.
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[longbow]

And why shouldn't they make $$

 

[makapaaa]

And why shouldn't they make $$

Sure, but where has all the $$$ gone to?

 

[Cestbon]

All place in the world gov also make money by sold or mostly lease the land. If not where do gov get money?
Nothing wrong with that.

 

[hockbeng]

All place in the world gov also make money by sold or mostly lease the land. If not where do gov get money?
Nothing wrong with that.

You moron!
The Govs job is not to make money; that's the private sector job.

Th Gov's job is to spend money they collect from the private sector thro taxes in an efficient and responsible way; for the good of all CITIZENS and to create a stable environment (thro defence spending and a properly run civil service that is non-partisan) so that the private sector can flourish.

Priavte sector flourish = more taxes to spend for the country.

When the F*** is the Gov's job to make money?

 

[tiuroyston46asshole]

Sure, but where has all the $$$ gone to?

Hey asshole, got ball, ask the minister who they do their walk about just like
csj did ......remember.......

 

[yellow people]

Hey asshole, got ball, ask the minister who they do their walk about just like
csj did ......remember.......

Hi asshole, is your asshole itchy and waiting for the OA to ass?

 

[Cestbon]

You moron!
The Govs job is not to make money; that's the private sector job.

Th Gov's job is to spend money they collect from the private sector thro taxes in an efficient and responsible way; for the good of all CITIZENS and to create a stable environment (thro defence spending and a properly run civil service that is non-partisan) so that the private sector can flourish.

Priavte sector flourish = more taxes to spend for the country.

When the F*** is the Gov's job to make money?

Then you tell me were gov getting money?
Who pat for NS/defend/education/police........
Are you willing to pay your kid eucation cost about $400/month for each kid?

 

[hockbeng]

Then you tell me were gov getting money?
Who pat for NS/defend/education/police........
Are you willing to pay your kid eucation cost about $400/month for each kid?

Taxes you idiot! Plse read my post!

For your info, the money collected thro land sales is not included in the budget. This means that the money our Gov collects from selling land doesn't get spent on the country but is squirreled into some unknown account to buy UBS/MERRILL/Citibank etc..

Go read the budget: Land sales is not counted as income.

This means that high land cost is a hidden "tax" but it isn't even considered a tax cos it doesn't get spent for the good of the country.

People like you should read up more before posting rubbish!

 

[longbow]

Gov should have various forms of revenues. Selling land is one such form. HK funds much of its Gov expenditure from land sales. Land is a valuable commodity in land scarce Singapo

All place in the world gov also make money by sold or mostly lease the land. If not where do gov get money?
Nothing wrong with that.

 

[Cestbon]

Gov should have various forms of revenues. Selling land is one such form. HK funds much of its Gov expenditure from land sales. Land is a valuable commodity in land scarce Singapo

Yes . land sale/lease is parts of gov income or tax but Mr Hock Beng( low IQ) don't understand the economy just thinking business tax is enough to cover all budget.
He never study world economy. All gov around the world doing the same thing land lease/sale.
Mostly are lease because after lease time up gov can regenerate income from lease again and the process are repeated. Just that SIngapore history are new and almost all lease are in 1st term not yet finnish.
If all income/tax come from company only then we have to up the taxes to 50%. What will happen all company will leave ASAP.

 

[johnny333]

Gov should have various forms of revenues. Selling land is one such form. HK funds much of its Gov expenditure from land sales. Land is a valuable commodity in land scarce Singapo

Yah land is valuable but where else but in Spore can the gov't suka suka appropriate land from citizens.

On the other hand where else do we have the worlds highest paid gov't ignore the poor, old, sick,..., citizens of the country

 

[hockbeng]

Yes . land sale/lease is parts of gov income or tax but Mr Hock Beng( low IQ) don't understand the economy just thinking business tax is enough to cover all budget.
He never study world economy. All gov around the world doing the same thing land lease/sale.
Mostly are lease because after lease time up gov can regenerate income from lease again and the process are repeated. Just that SIngapore history are new and almost all lease are in 1st term not yet finnish.
If all income/tax come from company only then we have to up the taxes to 50%. What will happen all company will leave ASAP.

You moron!

Spore is the only country in the world where money collected from land sales does not count as income or revenue.
Even LHL admitted this. His argument was that selling land is converting one asset (land) to another asset (paper money) so this is not income.
Can't you read?
Perhaps only industrial land leases count as revenue but this not what we are talking about.
We are talking about: freehold land, land sold to HDB/private developers/IRs. These form the bulk of land sales.

The sale of land to the 2 IR operators generated at least 3-4 billion at 30 year leases but none of it is counted as revenue.

If we used all monies generated from land sales to form the budget; there will be no need to pay tax or gst!

Govs around the world do not use land sales to fund their Gov expenditure. They borrow it by issuing Gov debt (cos they can easily print it; its just paper money).

Go read up more before posting nonsense.

 

[Cestbon]

Mr Hock Beng
I guess the only word in your head is MORON maybe your mother fuck your head very often?

 

[Cerebral]

Mr Hock Beng
I guess the only word in your head is MORON maybe your mother fuck your head very often?

Why get so personal... What Hock Beng said is not wrong...sigh...

 

[tiuroyston46asshole]

Hi asshole, is your asshole itchy and waiting for the OA to ass?

Yeah born loser asshole, I assed asshole and you buah song is it. Give infraction to me bar me lah.......ha ha ha......assing asshole here can be any time rite......he he he....

 

[yellow people]

....

Hehehe no worries, now i am beginning to like u cos i find u are way better than some asshole losers (who is obsessed with another asshole by the name of NgEjay) who can't win in cyber flame wars against the OA.

 

[tiuroyston46asshole]

Hehehe no worries, now i am beginning to like u cos i find u are way better than some asshole losers (who is obsessed with another asshole by the name of NgEjay) who can't win in cyber flame wars against the OA.

he he.....like me to arse you back side......ha ha ha....shiok hor.....

 

[yellow people]

he he.....like me to arse you back side......ha ha ha....shiok hor.....

Hehehe ok let me guess, your next reply will be 2-3 days later.