20%? Nah!
I believe the CRASH will be close to more than -35% in OCR.......
Originally Posted by anythingwhatever
Those wishing for another 20% crash maybe can wait long long...
Global recession is coming....
20%? Nah!
I believe the CRASH will be close to more than -35% in OCR.......
Those wishing for another 20% crash maybe can wait long long...
Junior
Can anyone sell his property, keep the cash for 1 years and come back with the same amount of cash and come knocking on the door to buy the same place with the same amount of money he got 1 year ago?
I never see anyone able to do that....even in the worst of recession. There are always reasons of inflation, holding power, personal preference, finance requirements, etc that unable u to get back what u let go. In another word....cashing in and buying back in is always a downgrade if u don't add more cash.
Amber
You and Arcachon always make the assumption that people who sell off their properties will keep cash thereafter. No savvy investors are like Arcachon who only know how to invest in property and nothing else.
What you said is true only in a continuous rising market. If you believe in cycles, then your position is flawed even with inflation taken into consideration.
Junior
What I am saying cycle doesn't apply to individual case. As a whole we can see cycle as a trend. But for individual case when the cycle is down, doesn't necessarily means u can buy what u want at low price. There maybe plenty of cheap one that u don't want.
That why cashing in and waiting for low cycle is a bad strategy.
Last edited by indomie; 19-07-17 at 17:06.
Amber
Buying at the wrong time and wrong location - lose money
Buying at the wrong time and right location - still lose money
Buying at the right time and right location - make money!
Buying at the right time and wrong location -still make money
Ultimate Underdog
2013 right or wrong time?
2015 right or wrong time?
2017 right or wrong time?
How come I see people buy at wrong time still gain, and people buy at right time still lose???
The three laws of Kelonguni:
Where there is kelong, there is guni.
No kelong no guni.
More kelong = more guni.
Senior
Got money any time is the right time.
Senior
So far already met two who sold and still waiting for some kind of fruit dropping.
Newbie
well to be honest I'm vested in D12.. and so I'm hoping that it can ride on the recent soar in prices seen in the Queenstown/ red hill area. I bought my place about 5 years back.. rented it out for the past 1+ years.. but so far haven't seen much if any increase in PSF, which is a bit disheartening. Rental return about 2.8%. On the other hand, red hill and queens town is soaring (as in the new condos there). My cousin who's rich bought echelon high floor at $2k PSF- simply insane if u ask me. He also bought it maybe 2/3 years back? Dunno if he's made any paper profit yet though..
Right now since I'm a bit older and wiser (and richer haha).. I'm looking to sell my D12 condo and buy a better one, maybe around $2-2.2m. It's quite a lot of money I know.. but I'm young (still just 28) so I'm willing to stretch myself. My D12 unit is 95% paid up so if I do manage to sell it at cost price (which is fine w me) I will need to top it up by maybe 900k? I admit I come from a rather privileged background.. but I do work hard and save on wants.. my parents are also v supportive of the above plans. But what do u guys think? Too much too soon? Should I just be contented w what I have?
Currently living in D15, which is great.. but wanna explore other areas outside Katong
Senior
Freehold Landed.well to be honest I'm vested in D12.. and so I'm hoping that it can ride on the recent soar in prices seen in the Queenstown/ red hill area. I bought my place about 5 years back.. rented it out for the past 1+ years.. but so far haven't seen much if any increase in PSF, which is a bit disheartening. Rental return about 2.8%. On the other hand, red hill and queens town is soaring (as in the new condos there). My cousin who's rich bought echelon high floor at $2k PSF- simply insane if u ask me. He also bought it maybe 2/3 years back? Dunno if he's made any paper profit yet though..
Right now since I'm a bit older and wiser (and richer haha).. I'm looking to sell my D12 condo and buy a better one, maybe around $2-2.2m. It's quite a lot of money I know.. but I'm young (still just 28) so I'm willing to stretch myself. My D12 unit is 95% paid up so if I do manage to sell it at cost price (which is fine w me) I will need to top it up by maybe 900k? I admit I come from a rather privileged background.. but I do work hard and save on wants.. my parents are also v supportive of the above plans. But what do u guys think? Too much too soon? Should I just be contented w what I have?
Currently living in D15, which is great.. but wanna explore other areas outside Katong
Junior
I will sell the property that doesn't perform and replace it with a more potential one. It didn't performin the past, it won't in the future. Waiting for cycle is a waste of timewell to be honest I'm vested in D12.. and so I'm hoping that it can ride on the recent soar in prices seen in the Queenstown/ red hill area. I bought my place about 5 years back.. rented it out for the past 1+ years.. but so far haven't seen much if any increase in PSF, which is a bit disheartening. Rental return about 2.8%. On the other hand, red hill and queens town is soaring (as in the new condos there). My cousin who's rich bought echelon high floor at $2k PSF- simply insane if u ask me. He also bought it maybe 2/3 years back? Dunno if he's made any paper profit yet though..
Right now since I'm a bit older and wiser (and richer haha).. I'm looking to sell my D12 condo and buy a better one, maybe around $2-2.2m. It's quite a lot of money I know.. but I'm young (still just 28) so I'm willing to stretch myself. My D12 unit is 95% paid up so if I do manage to sell it at cost price (which is fine w me) I will need to top it up by maybe 900k? I admit I come from a rather privileged background.. but I do work hard and save on wants.. my parents are also v supportive of the above plans. But what do u guys think? Too much too soon? Should I just be contented w what I have?
Currently living in D15, which is great.. but wanna explore other areas outside Katong
Insights Advocator
Gasp! 28 today and at 23 bought a condo in D12!! You should be in the papers on how you managed that! I was fresh out of uni at 24 and not a penny to my name. Only managed my first property investment at 33. How times have changed! Good to start young. Happy for you but I am not so sure about your D12 capital appreciation. I hope you have made some money and continue to plonk in at the right ones. We need more fresh blood to inject life into the market. All the best.well to be honest I'm vested in D12.. and so I'm hoping that it can ride on the recent soar in prices seen in the Queenstown/ red hill area. I bought my place about 5 years back.. rented it out for the past 1+ years.. but so far haven't seen much if any increase in PSF, which is a bit disheartening. Rental return about 2.8%. On the other hand, red hill and queens town is soaring (as in the new condos there). My cousin who's rich bought echelon high floor at $2k PSF- simply insane if u ask me. He also bought it maybe 2/3 years back? Dunno if he's made any paper profit yet though..
Right now since I'm a bit older and wiser (and richer haha).. I'm looking to sell my D12 condo and buy a better one, maybe around $2-2.2m. It's quite a lot of money I know.. but I'm young (still just 28) so I'm willing to stretch myself. My D12 unit is 95% paid up so if I do manage to sell it at cost price (which is fine w me) I will need to top it up by maybe 900k? I admit I come from a rather privileged background.. but I do work hard and save on wants.. my parents are also v supportive of the above plans. But what do u guys think? Too much too soon? Should I just be contented w what I have?
Currently living in D15, which is great.. but wanna explore other areas outside Katong
PropVestor
Amber
Bought D12 in 2012, not making money now. So those bought in 2013, 2014, 2015 and 2016 also cannot expect to make money since the peak was in 2013 and prices has declined only about 12 percent from peak. Even if sell at cost and buy now makes no difference because you are likely to buy at 2012 price if you buy now. Just keep it for rental. However, if you believe in cycle, sell now at cost and invest in bonds to give a better return of more than your current 2.8 percent. You come from a privilage family so likely have avenue or knowledge in investing other instruments.well to be honest I'm vested in D12.. and so I'm hoping that it can ride on the recent soar in prices seen in the Queenstown/ red hill area. I bought my place about 5 years back.. rented it out for the past 1+ years.. but so far haven't seen much if any increase in PSF, which is a bit disheartening. Rental return about 2.8%. On the other hand, red hill and queens town is soaring (as in the new condos there). My cousin who's rich bought echelon high floor at $2k PSF- simply insane if u ask me. He also bought it maybe 2/3 years back? Dunno if he's made any paper profit yet though..
Right now since I'm a bit older and wiser (and richer haha).. I'm looking to sell my D12 condo and buy a better one, maybe around $2-2.2m. It's quite a lot of money I know.. but I'm young (still just 28) so I'm willing to stretch myself. My D12 unit is 95% paid up so if I do manage to sell it at cost price (which is fine w me) I will need to top it up by maybe 900k? I admit I come from a rather privileged background.. but I do work hard and save on wants.. my parents are also v supportive of the above plans. But what do u guys think? Too much too soon? Should I just be contented w what I have?
Currently living in D15, which is great.. but wanna explore other areas outside Katong
Amber
Another option is to sell your D12 apartment now and buy CCR where prices have declined by more than 30 percent.
Newbie
One word: Envy.well to be honest I'm vested in D12.. and so I'm hoping that it can ride on the recent soar in prices seen in the Queenstown/ red hill area. I bought my place about 5 years back.. rented it out for the past 1+ years.. but so far haven't seen much if any increase in PSF, which is a bit disheartening. Rental return about 2.8%. On the other hand, red hill and queens town is soaring (as in the new condos there). My cousin who's rich bought echelon high floor at $2k PSF- simply insane if u ask me. He also bought it maybe 2/3 years back? Dunno if he's made any paper profit yet though..
Right now since I'm a bit older and wiser (and richer haha).. I'm looking to sell my D12 condo and buy a better one, maybe around $2-2.2m. It's quite a lot of money I know.. but I'm young (still just 28) so I'm willing to stretch myself. My D12 unit is 95% paid up so if I do manage to sell it at cost price (which is fine w me) I will need to top it up by maybe 900k? I admit I come from a rather privileged background.. but I do work hard and save on wants.. my parents are also v supportive of the above plans. But what do u guys think? Too much too soon? Should I just be contented w what I have?
Currently living in D15, which is great.. but wanna explore other areas outside Katong
Ultimate Underdog
Whichever year also got winners.
https://sg.finance.yahoo.com/news/to...093500908.html
The three laws of Kelonguni:
Where there is kelong, there is guni.
No kelong no guni.
More kelong = more guni.
Newbie
i graduated and started work at 23, the year i bought my D12 condo. obviously my parents helped me out with the downpayment - i couldn't afford it of course. since then ive worked hard to pay it off, again with my parents' help... and 5 years later today - im 95% done. just a little more to go.
honestly speaking i dont think ive "lost" any money in this investment. its a matter of how much ive made/ want to make before selling. my calculations, with all the rental income included and stamp duty/ agent fees deducted.. i think at this point i would have made maybe $50-60k? (that's assuming i sell at the price my unit type/ size is commanding according to property guru :P (its the only platform im vaguely familiar with cos im just a noob)
after much discussion with my parents who have been guiding me through all of this... ive decided to try selling my current condo unit.. should it not work out.. im still getting rental at 2.8% p.a. - not good but decent enough i guess.
Ultimate Underdog
You have wonderful parents.
They can do more by teaching you to fish rather than passing you a bucket of fish.
Good luck, and have fun!
The three laws of Kelonguni:
Where there is kelong, there is guni.
No kelong no guni.
More kelong = more guni.
Newbie
When that day comes, will the government remove all the CMs and implement some heating measures? Will that make things better?
Thanks in advance. I am here to learn.
Senior
TDSR will stay.
Amber
The market is pricing at 2011 level for resale market now. You will be lucky if you can sell at 2012 price. The resale market is at its turning point now because prices shoot up exponentially between 2009 to 2011. So if the market hits below 2011 level, the fall will be more steep going forward. Keep your fingers cross!
Global recession is coming....
You already have precedence to learn from........
From 1998 property price crash, government started introducing heating measures bit by bit, and it wasn't until 2006 that property prices finally went up steadily!
So lesson learnt: Property price is all about sentiment!
When sentiment sours, removing all property cooling measures and even introducing property heating measures are USELESS! (until sentiment turns positive again!)
Ultimate Underdog
It's always good to hold one or two good property in a good location.
Be safe: don't believe those who tell you to wait because they are looking to buy.
When you hold a good property, if prices fall or remain constant, you can afford to upgrade or switch to a desired location anytime.
When prices soar (which nobody knows when or perhaps it has begun for many good places but the indices do not reflect the ground situation), you have the "capital" to switch over as well, or to continue to pay yesterday's prices.
My property bought in 2012, the last 3 transactions at a lower floor with lesser facing are all priced about 5-10% higher, not including rental gains.
Get the correct "capital" and do not hoard the wrong kind...
The three laws of Kelonguni:
Where there is kelong, there is guni.
No kelong no guni.
More kelong = more guni.
Newbie
the resale market is turning UP, not down.
Newbie
my 2 cents
you shouldn't have tied up all your capital on one single property.
don't sell now. just continue to take the rental.
if you need cash to invest in another unit, do an equity loan. and your parents seem like the sort who doesn't mind helping out their boy investing
stick to katong. south of dunman road, of course. you wouldn't want to keep being accosted by all the D14 hoi polloi, would you
also, why D12? with that budget you could've got robertson, river valley, bukit timah or holland, in fact you had so many choices.
free up all your capital and sell off only if you are targetting a landed freehold house (because a house like that really need huge moolah to swing). stick to central locations.
for eg: don't buy that 3 storey new house in sembawang. that's like nearer to Johor already.
cheers.
Last edited by tonymontana; 20-07-17 at 09:50.
Amber
Oh yes! All the property analysts, developers and agents are saying so. You better faster go and buy now before prices rise further.
Newbie
already bought.
OK la, for the record, i'm just giving opinions, i could be wrong.
Amber
OK, that is fine.
Cheers!
Newbie
teddybear, Thanks for enlightenment.
Amber Woods, Do you mean all those property analysts, developers and agents are wrong? I am confused.
Amber
They are vested! Their opinions are just market data. You make your own decision.
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