{"id":64594,"date":"2017-08-25T09:28:07","date_gmt":"2017-08-25T02:28:07","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/upgraders-dominate-the-housing-market-says-wing-tai\/"},"modified":"2017-08-25T09:31:08","modified_gmt":"2017-08-25T02:31:08","slug":"upgraders-dominate-the-housing-market-says-wing-tai","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/upgraders-dominate-the-housing-market-says-wing-tai\/","title":{"rendered":"Upgraders dominate the housing market, says Wing Tai"},"content":{"rendered":"


\n\u00a0
\nA \u201cstrange phenomenon\u201d has occurred in the housing market, in which home upgraders dominated the market, while foreign buying and speculative investment remains suppressed, reported the Straits Times.
\nThe phenomenon comes as upgraders pushed prices in new townships and traditional areas nearer to those in the fringe area around Orchard Road, said Cheng Wai Keung, chairman and managing director of Wing Tai Holdings.
\nPrices within the fringe area or Rest of Central Region, on the other hand, have not witnessed the same increase due to the absence of speculative and foreign investment, he noted.
\nSEE ALSO:\u00a0Property market upturn on the horizon
\nWith the recovery looking like a two-speed one, Cheng revealed that he remains uncertain of the market outlook.
\n\u201cThis is a very different and difficult period in my 40 years in the property market. It has stabilised but you are not sure if it will continue to be like that,\u201d he said during the group\u2019s results briefing.
\n\u201cBut that does not mean that we do not look at property that will give us value.\u201d
\nWing Tai and Keppel Land submitted the highest bid of S$446.3 million for a land parcel at Serangoon North Avenue 1 last month.
\nWing Tai saw its fourth quarter net profit soar 406 percent year-on-year to S$9.5 million.
\nFor the 12 months to 30 June, net profit jumped 184 percent to S$20.1 million, while revenue dropped 52 percent to S$263.2 million.
\nFull-year earnings per share increased from 0.91 Singapore cents to 2.59 cents and net asset value per share rose to S$4.07 as at 30 June.
\nWith this, the company declared a first and final dividend of three Singapore cents per share as well as a special dividend of three cents per share \u2013 similar to last year.
\n\u00a0
\nThis article was edited by Denise Djong.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Upgraders dominate the housing market, says Wing Tai<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a0 A \u201cstrange phenomenon\u201d has occurred in the housing market, in which home upgraders dominated...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-64594","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-gNQ","jetpack-related-posts":[{"id":123233,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-upgraders-on-a-condo-buying-spree\/","url_meta":{"origin":64594,"position":0},"title":"HDB upgraders on a condo buying spree","date":"November 15, 2021","format":false,"excerpt":"\r HDB upgraders on a condo buying spreeIn the first nine months\u00a0of 2021, 7,169 buyers with HDB addresses\u00a0purchased new and resale private homes, a 21% increase from the same period last year. The rapid increase in Housing and Development Board (HDB) resale prices has enabled HDB upgraders to easily acquire\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/11\/Buildings-singapore.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":107202,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/8-most-affordable-new-condos-for-hdb-upgraders\/","url_meta":{"origin":64594,"position":1},"title":"8 Most Affordable New Condos For HDB Upgraders","date":"May 17, 2019","format":false,"excerpt":"\r Despite higher ABSD rates, there are still options in the market that may yet keep your condo dream alive. In this article, we rounded up 8 new projects that hover around the $1,300 psf threshold.\u00a0 The introduction of last year\u2019s property cooling measures has no doubt hampered the housing\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2019\/05\/8-most-affordable-new-condos-for-hdb-upgraders4-e1558057671664.png?fit=900%2C259&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":122878,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-prime-area-housing-model-may-boost-demand-for-flats-in-nearby-areas\/","url_meta":{"origin":64594,"position":2},"title":"New prime area housing model may boost demand for flats in nearby areas","date":"October 29, 2021","format":false,"excerpt":"\r Future HDB flats launched under the PLH model have tighter rules\u00a0like an extended MOP period of 10 years, which may push potential buyers towards flats in city-fringe areas that are not subject to such restrictions. 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The figure is an improvement from last year\u2019s\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":123996,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/bukit-batok-ec-site-to-receive-keen-interest-despite-new-curbs\/","url_meta":{"origin":64594,"position":4},"title":"Bukit Batok EC site to receive keen interest despite new curbs","date":"December 28, 2021","format":false,"excerpt":"\r The Bukit Batok West Avenue 8 EC site is expected to yield about 375 residential units. Source: URA Despite the introduction of new property cooling measures, market watchers expect the executive condominium (EC) site at Bukit Batok West Avenue 8 to receive keen interest from developers. 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