Source : The Straits Times, July 24, 2008
WASHINGTON - THE United States House of Representatives passed a massive housing rescue bill after the White House dropped a threatened veto, paving the way for passage of measures aimed at shoring up the worst US home market since the Great Depression.
Withdrawal of the veto threat spurred investors to snap up shares and bonds of mortgage finance companies Fannie Mae and Freddie Mac, which would receive an emergency government lifeline under the election-year bill.
Approved on a 272-152 vote, the bill now moves to the Senate, where approval was expected within days, with the precise timing of a final vote still uncertain.
The bill had been in the works for months, but took on greater urgency as concerns about Fannie and Freddie's finances began to rattle global financial markets earlier this month.
Ten days ago, the US Treasury pledged an unspecified credit line for the companies and said it would buy their stock, if needed, to bolster investor confidence. Those emergency measures required congressional approval.
The two companies, which own or guarantee almost half of the US$12 trillion (S$16 trillion) in US mortgage debt outstanding, have recorded heavy losses in the past year amid rising defaults.
If they were unable to keep financing mortgages, analysts say the already weak housing market could grind to a halt, tipping the US economy into a deep recession.
No time to wait
A White House spokesman earlier said President George W. Bush would sign the bill because it is needed urgently to address the housing and credit crisis, despite concerns about a provision that would provide grants to communities to buy and repair foreclosed homes.
'We do not believe we have time for a prolonged veto fight,' spokesman Dana Perino said.
Lawmakers have moved with unusual speed since the Treasury proposed the financial backstop for the two companies.
Senate Majority Leader Harry Reid said he wanted to send the measure to the president on Wednesday, but cautioned Republican lawmakers could still stall it.
South Carolina Senator Jim DeMint and six other Republican senators on Wednesday told Mr Reid in a letter they want to amend the bill with a measure to block Fannie Mae and Freddie Mac from using taxpayer dollars for lobbying.
On the Senate floor late on Wednesday, Mr Reid said to DeMint: 'If your amendment is made part of what we're going to do here and this legislation is changed, it goes back to the House again and we have a process that seems never-ending.
'I don't think we should send this back to the House. I think we should complete it here.'
Treasury Secretary Henry Paulson said he recommended that Mr Bush drop his objections to the bill because reforms for Fannie Mae and Freddie Mac, the country's two biggest mortgage finance companies, were too important.
'What we're doing with the (companies) is orders of magnitude more important than any of the other parts of this housing legislation,' Mr Paulson told reporters.
In a further sign that market concerns about the companies are relaxing, risk premiums on debt issued by the two companies narrowed. Priya Misra, an interest rate strategist at investment bank Lehman Brothers, said the legislation 'makes it easier for them to raise capital'.
Fannie Mae on Wednesday sold US$3 billion in short-term debt at higher interest rates than a week earlier. The rates, however, rose less than a benchmark investors use to judge value, showing decent demand for the deal.
Stronger regulator
Congressional budget analysts have put a US$25 billion potential price tag on provisions to bolster Fannie and Freddie, but said there was potential for the cost to vary widely.
Both Mr Paulson and the companies have said the credit line was just a backstop and they had no intention of using it.
In addition to that backstop, the bill would set up a new regulator for the companies and raise the size of mortgage loans that they and the Federal Housing Administration can guarantee. It would permit the FHA to refinance up to US$300 billion in mortgages facing foreclosure.
A new regulator for Fannie Mae and Freddie Mac, the result of years of debate over reining in the powerful government-sponsored enterprises, would have broadened authority to set capital requirements. The Federal Reserve would have a 'consultative role' in setting those requirements and ensuring the soundness of the mortgage enterprises.
The bill also contains an increase in the Treasury's borrowing authority. This hike was sketched out in a fiscal 2009 budget blueprint that cleared Congress earlier this year.
The current debt limit is set at US$9.815 trillion. Under the bill, it would be increased to US$10.615 trillion to accommodate the federal government's continued deficit spending.
Currently, the public debt is around US$9.5 trillion. -- REUTERS
Thursday, July 24, 2008
Fed: US Hit By Double Whammy Of Slower Grow, Rising Prices
Source : The Straits Times, July 24, 2008
WASHINGTON - THE United States slogged through slower economic growth and rising prices during the summer, packing a double whammy to consumers and businesses alike.
The Fed's new snapshot of business conditions, released on Wednesday, also underscored the challenges confronting Federal Reserve Chairman Ben Bernanke and his colleagues as they try to get the economy back on track.
For now, many economists predict the Fed will probably leave a key interest rate alone when it meets next on Aug 5 - given all the economic crosscurrents. Boosting rates to fend off inflation would hurt the fragile economy and the already crippled housing market. On the other hand, the Fed isn't inclined to lower rates because that would aggravate inflation.
Growth and inflation barometers turned worse in the summer, according to the Fed report. Some worry that the US may be headed for a bout of stagflation, that toxic combination of stagnant growth and stubborn inflation last seen in the 1970s.
Mr Bernanke has said, however, that he doesn't believe the economy will suffer from stagflation.
Information from the Fed's 12 regional banks around the country suggested that 'the pace of economic activity slowed somewhat since the last report' issued in June, the Fed report said.
Consumer spending - the economy's lifeblood - was reported as 'sluggish or slowing' in nearly all the 12 Fed regions, although the government's tax rebate checks spurred sales for some items, especially electronics. Sales at many other stores, particularly for housing-related goods, were typically characterised as 'weak or falling', however.
Looking ahead, 'the outlook for retail activity was also generally downbeat', the Fed report said. Sales expectations were described as 'grim' among retailers in the Dallas Fed region and 'subdued' in the Atlanta region.
Auto sales, meanwhile, were characterised as 'almost uniformly weak' across all Fed regions. Sales were especially poor for gas-guzzling SUVs, trucks and some minivans.
On the manufacturing front, activity declined in many Fed regions. Production of housing-related goods, such as construction equipment, wood products, home furnishings and heating and cooling systems were particularly hard hit. On the positive side, though, overseas demand for US exports remained 'generally high'.
The drooping value of the dollar, which makes US-made goods and services cheaper and more attractive to foreign buyers, has helped to boost export growth. That export growth has been a key force keeping the economy afloat.
The Dallas region noted strong overseas sales of high-tech products. The Fed regions of Cleveland, Richmond, Chicago and Kansas City all reported continued high demand for exports.
Meanwhile, food manufacturers in the Fed's San Francisco region said they are continuing to operate at, or near, full tilt because of persistently high demand.
Turning to inflation, all Fed regions described 'overall price pressures as elevated or increasing', the Fed report said.
Businesses continued to be hit by rising prices for fuel, metals, food and chemicals, among other things. Many Fed regions said manufacturers planned to raise prices to customers as a way of coping with the higher production costs. Some worried about a drop in customer demand and overall sales volume because of price hikes.
Some companies in the Philadelphia Fed region indicated that sluggish demand has made it difficult to raise prices. Meanwhile, some businesses in the Atlanta region were hesitant to pass along their higher costs as price increases because of cutbacks in discretionary spending by consumers.
Retail prices went up in several Fed regions. In the Kansas City region, for instance, companies reported higher prices at hotels, restaurant and resorts. Chicago retailers reported raising prices charged to consumers in response to higher wholesale prices.
By contrast, the Fed regions of New York and Cleveland reported relatively stable retail prices. One major retail chain in New York said that while costs under existing contracts were not up substantially, 'some escalation in prices was expected within the next year', the Fed report said.
The government last week reported that consumer prices in June rose at the second-fastest pace in a quarter century. Wholesale prices went up sharply, too.
On the jobs front, most Fed regions said employment conditions were about the same or slightly weaker. Employers have cut jobs for six straight months as they try to keep work forces lean amid the economic slowdown. Housing, credit and financial problems all have weighed on growth. The unemployment rate, at 5.5 per cent in June, is expected to climb in the months ahead.
Wage pressures, meanwhile, were described as 'generally modest'. Economists look to wages for clues about inflation.
Businesses in the Fed regions of Cleveland, Atlanta, Chicago and Kansas City reported very little upward wage pressures, except for very skilled workers and those in the energy field. But the Boston and Dallas regions said more workers were requesting higher wages to supplement cost of living increases.
Mr Bernanke has said he doesn't see a repeat of the 1970s-style situation where workers demanded - and got - higher wages to keep up with ever-rising prices. But Mr Charles Plosser, president of the Federal Reserve Bank of Philadelphia, has warned that the Fed shouldn't wait for signs of something like that to emerge before taking corrective action.
Mr Plosser, an inflation hawk, has warned that the Fed might need to start to raise rates sooner rather than later to thwart inflation - even if the economy stays fragile.
The Fed's survey is based on information supplied by the its 12 regional banks. The information was collected before July 14. -- AP
WASHINGTON - THE United States slogged through slower economic growth and rising prices during the summer, packing a double whammy to consumers and businesses alike.
The Fed's new snapshot of business conditions, released on Wednesday, also underscored the challenges confronting Federal Reserve Chairman Ben Bernanke and his colleagues as they try to get the economy back on track.
For now, many economists predict the Fed will probably leave a key interest rate alone when it meets next on Aug 5 - given all the economic crosscurrents. Boosting rates to fend off inflation would hurt the fragile economy and the already crippled housing market. On the other hand, the Fed isn't inclined to lower rates because that would aggravate inflation.
Growth and inflation barometers turned worse in the summer, according to the Fed report. Some worry that the US may be headed for a bout of stagflation, that toxic combination of stagnant growth and stubborn inflation last seen in the 1970s.
Mr Bernanke has said, however, that he doesn't believe the economy will suffer from stagflation.
Information from the Fed's 12 regional banks around the country suggested that 'the pace of economic activity slowed somewhat since the last report' issued in June, the Fed report said.
Consumer spending - the economy's lifeblood - was reported as 'sluggish or slowing' in nearly all the 12 Fed regions, although the government's tax rebate checks spurred sales for some items, especially electronics. Sales at many other stores, particularly for housing-related goods, were typically characterised as 'weak or falling', however.
Looking ahead, 'the outlook for retail activity was also generally downbeat', the Fed report said. Sales expectations were described as 'grim' among retailers in the Dallas Fed region and 'subdued' in the Atlanta region.
Auto sales, meanwhile, were characterised as 'almost uniformly weak' across all Fed regions. Sales were especially poor for gas-guzzling SUVs, trucks and some minivans.
On the manufacturing front, activity declined in many Fed regions. Production of housing-related goods, such as construction equipment, wood products, home furnishings and heating and cooling systems were particularly hard hit. On the positive side, though, overseas demand for US exports remained 'generally high'.
The drooping value of the dollar, which makes US-made goods and services cheaper and more attractive to foreign buyers, has helped to boost export growth. That export growth has been a key force keeping the economy afloat.
The Dallas region noted strong overseas sales of high-tech products. The Fed regions of Cleveland, Richmond, Chicago and Kansas City all reported continued high demand for exports.
Meanwhile, food manufacturers in the Fed's San Francisco region said they are continuing to operate at, or near, full tilt because of persistently high demand.
Turning to inflation, all Fed regions described 'overall price pressures as elevated or increasing', the Fed report said.
Businesses continued to be hit by rising prices for fuel, metals, food and chemicals, among other things. Many Fed regions said manufacturers planned to raise prices to customers as a way of coping with the higher production costs. Some worried about a drop in customer demand and overall sales volume because of price hikes.
Some companies in the Philadelphia Fed region indicated that sluggish demand has made it difficult to raise prices. Meanwhile, some businesses in the Atlanta region were hesitant to pass along their higher costs as price increases because of cutbacks in discretionary spending by consumers.
Retail prices went up in several Fed regions. In the Kansas City region, for instance, companies reported higher prices at hotels, restaurant and resorts. Chicago retailers reported raising prices charged to consumers in response to higher wholesale prices.
By contrast, the Fed regions of New York and Cleveland reported relatively stable retail prices. One major retail chain in New York said that while costs under existing contracts were not up substantially, 'some escalation in prices was expected within the next year', the Fed report said.
The government last week reported that consumer prices in June rose at the second-fastest pace in a quarter century. Wholesale prices went up sharply, too.
On the jobs front, most Fed regions said employment conditions were about the same or slightly weaker. Employers have cut jobs for six straight months as they try to keep work forces lean amid the economic slowdown. Housing, credit and financial problems all have weighed on growth. The unemployment rate, at 5.5 per cent in June, is expected to climb in the months ahead.
Wage pressures, meanwhile, were described as 'generally modest'. Economists look to wages for clues about inflation.
Businesses in the Fed regions of Cleveland, Atlanta, Chicago and Kansas City reported very little upward wage pressures, except for very skilled workers and those in the energy field. But the Boston and Dallas regions said more workers were requesting higher wages to supplement cost of living increases.
Mr Bernanke has said he doesn't see a repeat of the 1970s-style situation where workers demanded - and got - higher wages to keep up with ever-rising prices. But Mr Charles Plosser, president of the Federal Reserve Bank of Philadelphia, has warned that the Fed shouldn't wait for signs of something like that to emerge before taking corrective action.
Mr Plosser, an inflation hawk, has warned that the Fed might need to start to raise rates sooner rather than later to thwart inflation - even if the economy stays fragile.
The Fed's survey is based on information supplied by the its 12 regional banks. The information was collected before July 14. -- AP
S'pore Voted Best Place To Live In For Expats
Source : The Straits Times, July 24, 2008
SINGAPORE has emerged the best place to live in the world in a survey of more than 2,000 expatriates by HSBC Bank.
The city-state also ranked first for quality of accommodation and second for luxury living.
Singapore's safe, tax-efficient environment makes it 'an ideal location for expats to grow and protect their savings and investments'. -- ST PHOTO: ASHLEIGH SIM
Its closest competitor, Hong Kong, was ranked fifth overall, and first for an expat's ability to earn and save.
The United Arab Emirates (UAE) and the United States came in as joint second best overall destinations, with Belgium ranking fourth.
HSBC's Expat Explorer Survey - a first for the bank - interviewed 2,155 expatriates across four continents to rank destinations based on living standards, the ability to earn and save, a country's popularity, and the level of luxury experienced.
The survey, released on Thursday, comes after human resources consultancy Mercer ranked the Republic the fifth most expensive Asian city for expatriates - up a notch from a previous survey.
ECA International, also a human resources consultancy, ranked Singapore as the best place for Asian expatriates to live worldwide earlier this year. And in a separate survey, found that Singapore has become a more expensive place for expatriates to live, but it is still cheaper than Hong Kong.
The Republic jumped 17 places to land at the 114th spot in a global survey of the costliest cities for expatriates, on the back of higher inflation and a stronger Singdollar in the past year.
But despite rising living costs, especially in housing, Singapore remains competitive compared to its Asian neighbours such as Tokyo, Seoul and Hong Kong, and other global financial centres like London and Zurich, said Mercer.
HSBC's head of consumer banking in Singapore, Ms Wendy Lim, said there are about 300,000 expats living in Singapore.
Singapore's safe, tax-efficient environment makes it 'an ideal location for expats to grow and protect their savings and investments', she said.
SINGAPORE has emerged the best place to live in the world in a survey of more than 2,000 expatriates by HSBC Bank.
The city-state also ranked first for quality of accommodation and second for luxury living.
Singapore's safe, tax-efficient environment makes it 'an ideal location for expats to grow and protect their savings and investments'. -- ST PHOTO: ASHLEIGH SIMIts closest competitor, Hong Kong, was ranked fifth overall, and first for an expat's ability to earn and save.
The United Arab Emirates (UAE) and the United States came in as joint second best overall destinations, with Belgium ranking fourth.
HSBC's Expat Explorer Survey - a first for the bank - interviewed 2,155 expatriates across four continents to rank destinations based on living standards, the ability to earn and save, a country's popularity, and the level of luxury experienced.
The survey, released on Thursday, comes after human resources consultancy Mercer ranked the Republic the fifth most expensive Asian city for expatriates - up a notch from a previous survey.
ECA International, also a human resources consultancy, ranked Singapore as the best place for Asian expatriates to live worldwide earlier this year. And in a separate survey, found that Singapore has become a more expensive place for expatriates to live, but it is still cheaper than Hong Kong.
The Republic jumped 17 places to land at the 114th spot in a global survey of the costliest cities for expatriates, on the back of higher inflation and a stronger Singdollar in the past year.
But despite rising living costs, especially in housing, Singapore remains competitive compared to its Asian neighbours such as Tokyo, Seoul and Hong Kong, and other global financial centres like London and Zurich, said Mercer.
HSBC's head of consumer banking in Singapore, Ms Wendy Lim, said there are about 300,000 expats living in Singapore.
Singapore's safe, tax-efficient environment makes it 'an ideal location for expats to grow and protect their savings and investments', she said.
S'pore Getting More Expensive For Expats: Mercer Survey
Source : The Straits Times, July 24, 2008
It moves up a spot in two categories - to No. 5 in Asia and No. 13 in the world
SINGAPORE is now the fifth most expensive Asian city for expatriates, up a notch from an earlier survey, human resources consultancy Mercer said yesterday.
The annual cost-of-living survey did not spring too many surprises, with traditionally expensive cities in Europe and Asia featuring strongly in the top 20 cities for this year.
PRICEY NEIGHBOURHOOD: Moscow, with the iconic domes of St Basil's Cathedral, is the world's most expensive city for expatriates. -- ST FILE PHOTO
For the third year running, Moscow retained its top spot, while Tokyo climbed two spots to second, knocking off London and Seoul, which dropped to third and fifth, respectively, in the global rankings.
Singapore, which was number six in Asia last year, also edged one spot higher in global rankings this year, coming in at 13th.
'Singapore's rise in the rankings is partly attributable to the appreciation of the Singapore dollar against the US dollar,' said managing director for Mercer-Asean, Ms Su-Yen Wong.
'Another contributing factor is its continued strength as a hub for the region...this has increased demand for items such as housing, food and transportation.'
Mercer's survey, which covers 143 cities around the world, measures and compares the costs of over 200 essential items for expats.
These include housing, transport, food, clothing, household goods and even entertainment.
The rising cost of living reflected in the survey confirmed the global trend of price increases for staple items such as food and petrol.
The findings also showed a high correlation between the cost of living, economic growth and quality of life in a country.
This was more true for fast-developing Asian cities such as Singapore, where the cost-of-living increase can be attributed to the higher quality of life enjoyed by residents, Mercer said.
But despite rising living costs, especially in housing, Singapore remains competitive compared to its Asian neighbours such as Tokyo, Seoul and Hong Kong, and other global financial centres such as London and Zurich.
This has also not deterred foreign firms from setting up shop in Singapore.
'Our members are concerned about increasing rents but other costs are pretty much at world standard levels,' said Mr Nick Cocks, president of the Australian Chamber of Commerce, Singapore.
'And, overall, most of our members find Singapore a great place to live.'
Its American counterparts, however, painted a less-than-positive picture of Singapore.
A recent survey by the American Chamber of Commerce here showed that 74 per cent of its members were 'dissatisfied' with the cost of leasing offices and housing, while 95 per cent expected the cost of living to rise.
New York, the most expensive city in the US, is ranked 22nd on Mercer's global list.
It moves up a spot in two categories - to No. 5 in Asia and No. 13 in the world
SINGAPORE is now the fifth most expensive Asian city for expatriates, up a notch from an earlier survey, human resources consultancy Mercer said yesterday.
The annual cost-of-living survey did not spring too many surprises, with traditionally expensive cities in Europe and Asia featuring strongly in the top 20 cities for this year.
PRICEY NEIGHBOURHOOD: Moscow, with the iconic domes of St Basil's Cathedral, is the world's most expensive city for expatriates. -- ST FILE PHOTOFor the third year running, Moscow retained its top spot, while Tokyo climbed two spots to second, knocking off London and Seoul, which dropped to third and fifth, respectively, in the global rankings.
Singapore, which was number six in Asia last year, also edged one spot higher in global rankings this year, coming in at 13th.
'Singapore's rise in the rankings is partly attributable to the appreciation of the Singapore dollar against the US dollar,' said managing director for Mercer-Asean, Ms Su-Yen Wong.'Another contributing factor is its continued strength as a hub for the region...this has increased demand for items such as housing, food and transportation.'
Mercer's survey, which covers 143 cities around the world, measures and compares the costs of over 200 essential items for expats.
These include housing, transport, food, clothing, household goods and even entertainment.
The rising cost of living reflected in the survey confirmed the global trend of price increases for staple items such as food and petrol.
The findings also showed a high correlation between the cost of living, economic growth and quality of life in a country.
This was more true for fast-developing Asian cities such as Singapore, where the cost-of-living increase can be attributed to the higher quality of life enjoyed by residents, Mercer said.
But despite rising living costs, especially in housing, Singapore remains competitive compared to its Asian neighbours such as Tokyo, Seoul and Hong Kong, and other global financial centres such as London and Zurich.
This has also not deterred foreign firms from setting up shop in Singapore.
'Our members are concerned about increasing rents but other costs are pretty much at world standard levels,' said Mr Nick Cocks, president of the Australian Chamber of Commerce, Singapore.
'And, overall, most of our members find Singapore a great place to live.'
Its American counterparts, however, painted a less-than-positive picture of Singapore.
A recent survey by the American Chamber of Commerce here showed that 74 per cent of its members were 'dissatisfied' with the cost of leasing offices and housing, while 95 per cent expected the cost of living to rise.
New York, the most expensive city in the US, is ranked 22nd on Mercer's global list.
宏茂桥私人组屋 3000人参观示范单位 首两小时130人登记抽签选购
Source : 《联合早报》July 24, 2008
昨天上午的一场大雨阻止不了宏茂桥私人组屋Park Central@AMK的潜在买家到示范单位参观及了解详情。
将建在宏茂桥52街的Park Central是建屋局第三个交由私人发展商设计、兴建和销售的组屋项目。联合工程（United Engineers）是发展商。
昨天上午虽然下了一场大雨，Park Central@AMK示范单位在开放首两个小时仍吸引了1200人参观。（邓智炜摄）
由4座30层组屋组成的Park Central@AMK，共有578个单位，其中172个四房式、406个五房式，四房式售价40万元至50万元；五房式60万元至69万元，平均每平方英尺490元至500元。
Park Central昨天上午10时发售，但由于不是周末，人潮不比文庆路私人组屋City View@Boon Keng发售日的多。不过，它在发售后两个小时吸引1200人参观，其中130人登记抽签选购。到了傍晚6时，参观者已有3000人。但发展商因登记系统故障无法提供最新人数资料。
受访公众虽对这个私人组屋地点表示赞赏，但也有人认为售价偏高。市场经理连源福说，他曾在宏茂桥住了很多年，后来搬到三巴旺，得知宏茂桥将建私人组屋，兴起搬回宏茂桥的念头。
参观者认为 地点方便售价偏高
他说：“主要是方便，我们熟悉这个地方。这个项目还不错，就是售价偏高。如果售价能降到每平方英尺400元会比较好。毕竟是组屋，不是私人公寓。”
话虽如此，连源福还是登记了名字，希望能被抽中以选购一个单位。
新跃大学学生关自强希望能买一间组屋，以和女友结婚。他说：“这里靠近我父母，又是已完全发展组屋区，各种设施都很方便，地点非常有吸引力。问题是价格相当高，要五六十万。不过，这是一种新的居住环境，设计很像公寓。”
公司执行员郑永强也因为父母住宏茂桥，有意购买而前去参观示范单位。他觉得售价偏高，需要谨慎考虑，才能决定是否买私人组屋或预购组屋（BTO）。
他说：“负担房子贷款是影响未来生活素质的主要因素，要过得轻松，还是辛苦一点，就是看买什么样的房子。虽然说薪水会增加，但其他生活成本也会上涨，到头来还是一样的。”
联合工程董事经理兼执行总裁叶吉祥受访时说，他不担心目前房地产市场出现不稳定情绪，因为公共住屋是完全不同的市场，组屋面向大众化市场，组屋转售价每个季度都上涨，显示组屋需求强劲。
他说：“我们制订正确的价位，稍微比转售组屋高，比上个私人组屋项目低。我们的设计美观，给予相当完善的装修，几乎是可以直接搬进去住，所以可以吸引到买家。”
建屋局网站提供的转售价数据显示，从今年4月至7月，屋龄五六年的宏茂桥52街四房式组屋转售价介于42万元至49万元，有28年屋龄的五房式组屋转售价约49万元。
Park Central的订购登记下月5日截止，示范单位每天上午10时开放至傍晚6时，公众可拨64518002了解详情。
昨天上午的一场大雨阻止不了宏茂桥私人组屋Park Central@AMK的潜在买家到示范单位参观及了解详情。
将建在宏茂桥52街的Park Central是建屋局第三个交由私人发展商设计、兴建和销售的组屋项目。联合工程（United Engineers）是发展商。
昨天上午虽然下了一场大雨，Park Central@AMK示范单位在开放首两个小时仍吸引了1200人参观。（邓智炜摄）由4座30层组屋组成的Park Central@AMK，共有578个单位，其中172个四房式、406个五房式，四房式售价40万元至50万元；五房式60万元至69万元，平均每平方英尺490元至500元。
Park Central昨天上午10时发售，但由于不是周末，人潮不比文庆路私人组屋City View@Boon Keng发售日的多。不过，它在发售后两个小时吸引1200人参观，其中130人登记抽签选购。到了傍晚6时，参观者已有3000人。但发展商因登记系统故障无法提供最新人数资料。
受访公众虽对这个私人组屋地点表示赞赏，但也有人认为售价偏高。市场经理连源福说，他曾在宏茂桥住了很多年，后来搬到三巴旺，得知宏茂桥将建私人组屋，兴起搬回宏茂桥的念头。
参观者认为 地点方便售价偏高
他说：“主要是方便，我们熟悉这个地方。这个项目还不错，就是售价偏高。如果售价能降到每平方英尺400元会比较好。毕竟是组屋，不是私人公寓。”
话虽如此，连源福还是登记了名字，希望能被抽中以选购一个单位。
新跃大学学生关自强希望能买一间组屋，以和女友结婚。他说：“这里靠近我父母，又是已完全发展组屋区，各种设施都很方便，地点非常有吸引力。问题是价格相当高，要五六十万。不过，这是一种新的居住环境，设计很像公寓。”
公司执行员郑永强也因为父母住宏茂桥，有意购买而前去参观示范单位。他觉得售价偏高，需要谨慎考虑，才能决定是否买私人组屋或预购组屋（BTO）。
他说：“负担房子贷款是影响未来生活素质的主要因素，要过得轻松，还是辛苦一点，就是看买什么样的房子。虽然说薪水会增加，但其他生活成本也会上涨，到头来还是一样的。”
联合工程董事经理兼执行总裁叶吉祥受访时说，他不担心目前房地产市场出现不稳定情绪，因为公共住屋是完全不同的市场，组屋面向大众化市场，组屋转售价每个季度都上涨，显示组屋需求强劲。
他说：“我们制订正确的价位，稍微比转售组屋高，比上个私人组屋项目低。我们的设计美观，给予相当完善的装修，几乎是可以直接搬进去住，所以可以吸引到买家。”
建屋局网站提供的转售价数据显示，从今年4月至7月，屋龄五六年的宏茂桥52街四房式组屋转售价介于42万元至49万元，有28年屋龄的五房式组屋转售价约49万元。
Park Central的订购登记下月5日截止，示范单位每天上午10时开放至傍晚6时，公众可拨64518002了解详情。
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