The three laws of Kelonguni:
Where there is kelong, there is guni.
No kelong no guni.
More kelong = more guni.
wow 3 am.
"Buy la, the world is printing money what. The dam is leaking liao la"
This has to the most often repeated calling heard in this forum today, it actual borders on hysterical.
If the markets crash tomorrow, we can be assured a varied tune being sung.
"Buy la, property price has crashed more than 20% already in OCR. Cheap, cheap. Don't worry, the governments will remove the CMs and print MOAR money to support one."
But this is not a personal attack. It is just too funny to me.
He genuinely deserved our respects, because he is a very successful property investor also. He has shown the best property investment record published in this forum in the Southbank purchase. (I am sure there are many other records but people prefer to keep them in private)
Are we not more interested why he bought Southbank then? Surely it was not due to luck?
So please, buy a property by all means but buy only when you see value.
That is his tune. My tune is, if one remains unconvinced after reading all the evidence, please remain sitting out. Continue to rent lah, miss the diminishing fire sales, wait for interest rates to rise, wait for major events while their cash grows in power lah. Let the enblockers take over buyers roles as they "renew" their leases or snap up the top end properties. When the dust settles, we shall see who gets the last laugh.
The three laws of Kelonguni:
Where there is kelong, there is guni.
No kelong no guni.
More kelong = more guni.
Mr A always talked about his Southbank purchase bought during the market low and how he benefited from his HDB flat via the Goh Chok Tong's asset enhancement scheme. Whether it was pure luck or due to his buying low or "got money just buy" strategy, he was helped by the Goh's policy.
He still live in the fantasy of the Goh's era. Asset enhancement policy was dead after Khaw took over as MND Minister in 2011. He slowly and gradually managed a soft landing and it is now clear when Minister Wong confirmed that as your lease runs down, your HDB flat will eventually becomes zero in value.
Who will be the new renters to soak up the upcoming & current supply now? What are the new jobs created & will we need more or less manpower needed moving forward?
Thinking of going to view showflats today, look at the choices..
http://www.sgpnewlaunches.com/?gclid...PgGhoCVBPw_wcB
The market will tell you six - nine months later, whether the new launches on these newly acquired GLS and Enbloc will take off.
Several thousand last generation large units enblocced means more than the same amount of tenants and buyers coming back into the market. With that kind of profits, one can only imagine what can be achieved as a couple or a multi-generation unit. The enbloc fever is unlikely to subside soon, many old developments needing renewal.
I have been calling for enbloc to revive market since late 2015 or 2016 when Normanton Park was put on sale. But several other more manageably sized development pipped it. It's a wonderful time to be first time buyers again, congrats!
Please continue to wait for more exciting news.
The three laws of Kelonguni:
Where there is kelong, there is guni.
No kelong no guni.
More kelong = more guni.
Let me share my experience...My close friend, 4 units tenants not going to renew this year...all going back. For me...4 broke leases last year...all out of jobs and going back. This year....3 up for renewal...one just left...And it takes much longer to look for tenants with much lower asking.
In other words, there is no One-for-One replacement. My friend's property, just enbloc...going to stay with children.
Mr K is just as interesting as Mr A.
Mr A keeps telling people "got money just buy" and how many 10 years you had.
Mr K keeps making assumptions from en bloc plot ratios to en bloc owners filling up the gap.
As someone who benefited from en bloc sale and knowing what my former neighours bought as replacement, Mr K assumptions hold no water.
In older developments, about 60% are owner occupied. Only 60% needs to buy replacement units. These owners will not buy current new and compact size unit. They will go for older and bigger resale units bearing in mind that only 60% of the owners will be actively in the market looking for replacement. A good portion of these owners will not buy replacement units as they have the option of staying with their grown up children. A good portion will buy HDB resale flats.
For the remaining 40% investors, they have the option of using the money to buy other investment instrument like bonds and wait for the opportunity to buy another investment unit. They are in no hurry to buy.
Bearing in mind that the number of new units being built on the land bought by developer from and en bloc sale is at least 50% more due to maximizing the plot ratio and more compact size units.
So the effect of en bloc owners filling the market is not significant at all.
Property pool is deep and wide. Everybody's experience is different. Some people in shallow water, some in deep water. We just have to make sure we are in the deep part where there are most liquid. To be fair...other investments and businesses outside property investment ....are not faring too well neither.
Not sure how many of us followed the impact of Robotics.
http://www.ilo.org/public/english/di...6_r1_techn.pdf
I am damn worried about it, but then I am naturally cautious of everything haha.
That was the previous model before the series of cooling measures.
The 8-9 years of cooling measures have created huge pent up demand all around. People who want to buy more or buy for their children but hindered in ability (TDSR) and/or willingness (ABSD).
Releasing huge liquidity and relieving joint owners of first or second property ownership will create a huge wave.
Don't believe? Just wait lor. I am not the sort who will bug people to buy. Not an agent as well. Just don't complain later that the signs were not obvious enough.
The three laws of Kelonguni:
Where there is kelong, there is guni.
No kelong no guni.
More kelong = more guni.
"ALL of the 738 units at 99-year leasehold J Gateway were snapped up at the development's preview yesterday, as buyers sought apartments at the first condominium to be launched near Jurong East MRT station in 10 years.The robust sales came right before the Monetary Authority of Singapore's announcement yesterday evening that tightened rules for property loans, which take effect today."
http://www.condosingapore.com/forums...oling-Measures
A reminder... rental 1.8k lowest
A bottle of Lafite '82 for all my coffeeshop friends yesterday...many don't know what is it....haha...
Southbank is God given, bought in Jun 2006 was thinking of staying then rent out my HDB or sell.
Lots of people bad mouth about Southbank when it launch but I think it is good because I very lazy don't like to go too far for my food and necessity.
Spend a lot of time read about money printing because don't understand how 535000 can become 1550000 in 4 years.
So after 1 year bought another for self-stay. Thinking of changing my HDB to FH property but TDSR stop my game plan.
Got another 30 years to live, how many 10 years do you have.
I was told Tampines Court launches in July $960m for 560 units
In my previous en bloc, most of my neighbors downgraded as they think markets will come down. Some even rent. Luckily for me being a lazy person don't like to move here and there, upgraded. Just sold my place after staying for 10 years for free and make another pot. Upgrading to another place.
For my ex neighbors who over calculated and think too much, they have not make much move because I believe they can't get over it for missing the boat. (Sound familiar, like some here) As for me, I have make 2 folds by going all out leverage to the max like Mr A.
Now rewinding my bonds and equity position like Laguna to build up my limited bullets being a single income earner. My portfolio is only a fraction compared to Laguna being an investment guru.
For me, I prefer to stay vested instead of camping around for so many years and hoping market to crash. Crash also good,, don't crash also good.