View Full Version : Firesales after property cooling measures
Regulators
15-01-11, 00:14
For those genuine buyers (non-investors), first time home buyers and supporters of government the cooling measures, I take this opportunity to start this thread so that you can have a chance to share how the cooling measures have benefited you in buying your ideal condo at a bargain. If you have bought a firesale property, please feel free to share with us :D :D
For those genuine buyers (non-investors), first time home buyers and supporters of government the cooling measures, I take this opportunity to start this thread so that you can have a chance to share how the cooling measures have benefited you in buying your ideal condo at a bargain. If you have bought a firesale property, please feel free to share with us :D :D
They will not come in and brag! You might want to do some research and update us instead.
For those genuine buyers (non-investors), first time home buyers and supporters of government the cooling measures, I take this opportunity to start this thread so that you can have a chance to share how the cooling measures have benefited you in buying your ideal condo at a bargain. If you have bought a firesale property, please feel free to share with us :D :D
Your Regent Heigts for one :) Too bad it happened before this cooling measures, so it is not considered a steal after cooling measures.
If you haven't bought Regent Heights then, would you still have bought it after the cooling measures?
The more I study it, it is what I should be doing in future. High yielding FH if there is such a thing :)
rattydrama
15-01-11, 08:16
Your Regent Heigts for one :) Too bad it happened before this cooling measures, so it is not considered a steal after cooling measures.
If you haven't bought Regent Heights then, would you still have bought it after the cooling measures?
The more I study it, it is what I should be doing in future. High yielding FH if there is such a thing :)
He had some savings at the price. those who bought regent heights after cooling measures might have to wait for another 2 years (1st 2 year ssd damn steep) or top up 16%.
So his selling price within these 2 years is attractive enough to lure home staying buyer. This is a premium unit.
I think the investment still sound. He is not effected by the 14 Jan cooling measure.
Purchase after 14 Jan, straight away snapped with 16%. Not so fun.
If you have SGD 2 million spare cash, which project would you buy in the near term? lets say 3-6 months?
devilplate
15-01-11, 08:54
If you have SGD 2 million spare cash, which project would you buy in the near term? lets say 3-6 months?
I want sky@TPY @ 1200 psf 30+ flr
devilplate
15-01-11, 08:57
If you have SGD 2 million spare cash, which project would you buy in the near term? lets say 3-6 months?
2 mil cash quite alot... Inflation at 3%, eat away 60k annually... Stressful hehe
If you have SGD 2 million spare cash, which project would you buy in the near term? lets say 3-6 months?
2 mio for 40% downpayment...that means the price of the house is around 5million...
A lot of choices...maybe PH at Southbank? :d
If you have SGD 2 million spare cash, which project would you buy in the near term? lets say 3-6 months?
MBR and TS Bayview units.
Regulators
15-01-11, 10:25
I am glad to see people advertising 3 bedr RH for almost 100k higher than the prove I bought, so I can't complain much. In fact I would still have bought my unit even with the measures as I can still get 80% loan and moreover, I am buying to collect rental income so not much of an issue.
Your Regent Heigts for one :) Too bad it happened before this cooling measures, so it is not considered a steal after cooling measures.
If you haven't bought Regent Heights then, would you still have bought it after the cooling measures?
The more I study it, it is what I should be doing in future. High yielding FH if there is such a thing :)
devilplate
15-01-11, 10:32
I am glad to see people advertising 3 bedr RH for almost 100k higher than the prove I bought, so I can't complain much. In fact I would still have bought my unit even with the measures as I can still get 80% loan and moreover, I am buying to collect rental income so not much of an issue.
but perhaps, u will try to bargain abit more b4 u commit after the measures....:D
I want sky@TPY @ 1200 psf 30+ flr
Do you mean Sky@11?
I want sky@TPY @ 1200 psf 30+ flr
Hi Devil,
If you manage to sniff out a good deal, please give me a heads up so we can be neighbor :)
In the meantime i am going to put all my money in US stock market
devilplate
15-01-11, 11:51
Hi Devil,
If you manage to sniff out a good deal, please give me a heads up so we can be neighbor :)
In the meantime i am going to put all my money in US stock market
i am so so jealous!!! envy wor....
US stock market better? hmm...due to better unemployment figure or hot monies? i tink china and SG stock market better bet wor:2cents:
devilplate
15-01-11, 11:52
Do you mean Sky@11?
i say sky@tpy just to please teddybear mah...hehe
i am so so jealous!!! envy wor....
US stock market better? hmm...due to better unemployment figure or hot monies? i tink china and SG stock market better bet wor:2cents:
I like US market because it is volatile which for me is very easy to make(or lost) money.
If you know what you are buying, example AMZN, RVBD, FFIV, APPL those are solids counters
nobrainer32007
15-01-11, 12:06
Ok but why rh in the first place? The one at bukit batok right? 99 yr lh right?[/LIST]
I am glad to see people advertising 3 bedr RH for almost 100k higher than the prove I bought, so I can't complain much. In fact I would still have bought my unit even with the measures as I can still get 80% loan and moreover, I am buying to collect rental income so not much of an issue.
If you have SGD 2 million spare cash, which project would you buy in the near term? lets say 3-6 months?
with 60% LTV u can get a pty up to 5m :D
If you have SGD 2 million spare cash, which project would you buy in the near term? lets say 3-6 months?
Landed freehold detached or semi-d.
Wild Falcon
15-01-11, 13:45
I wouldn't touch landed now. Bad yields and a lot of speculation. Got $2 million cash, why die die must buy SG property? Maybe can buy property from our neighbouring country and some stocks and commodities and wait for correction in SG property bah. Correction may not be much though. Mass market will always be supported by HDB (which still has strong demand) and a lot of condo sellers I know are pulling their units out. HDB upgraders usually got "power" one - many of their HDB flats are bought cheap and fully paid and when they sell their HDB flat for say $600k, it's like collecting $600k cash for upgrading to condo.
Landed freehold detached or semi-d.
Regulators
15-01-11, 14:02
Rh for the following reasons: mil dollar views, undervalued, gd ental returns, walking distance to mrt, large land area, one of only two condos in bukit batok near west mall
Ok but why rh in the first place? The one at bukit batok right? 99 yr lh right?[/LIST]
bargain hunter
15-01-11, 14:38
US market supposedly could outperform china and sg this year. just got to be careful of forex risks only. that is also a reason for concern that interest rates could go up sooner than pple expect becoz the US recovery looks real enough.
i am so so jealous!!! envy wor....
US stock market better? hmm...due to better unemployment figure or hot monies? i tink china and SG stock market better bet wor:2cents:
with 60% LTV u can get a pty up to 5m :D
I am worried unable to service the loan if interest goes up and no tenant ... that would be a nightmare
Just got a few calls from agents saying there are viewings tomorrow for my units. There may be real buyers now but not keen to entertain them as they will likely give rock bottom prices now. Anyway, not desperate to sell with good rental yields.
I am worried unable to service the loan if interest goes up and no tenant ... that would be a nightmare
even wf tenant the rental yield sucks. just a little spiked rate,that it.
nobrainer32007
15-01-11, 15:16
Is the going currently at $600 psf¿ wat is the gross rental yield based on current price?
Rh for the following reasons: mil dollar views, undervalued, gd ental returns, walking distance to mrt, large land area, one of only two condos in bukit batok near west mall
I wouldn't touch landed now. Bad yields and a lot of speculation. Got $2 million cash, why die die must buy SG property? Maybe can buy property from our neighbouring country and some stocks and commodities and wait for correction in SG property bah. Correction may not be much though. Mass market will always be supported by HDB (which still has strong demand) and a lot of condo sellers I know are pulling their units out. HDB upgraders usually got "power" one - many of their HDB flats are bought cheap and fully paid and when they sell their HDB flat for say $600k, it's like collecting $600k cash for upgrading to condo.
Common misconception. I rented out my landed a few mths back. Gross yield for my landed is 3.5%, If you look at nett yield for landed, it may even be higher than condos because, you don't have to pay any maintenance or service charges and ppty tax tends to be lower for landed homes. Furthermore, landed tends to be less volatile in market swings. The only reason why it has shot up so much recently is because more enlightened folks are now realizing the intrinsic value of owning a landed.
Regulators
15-01-11, 16:42
If yield is based on my buying price, it is 4.6% to 4.9%. The prices have moved up so if you were to but a similar unit now, the yield would not be so high. The calling psf now should be 7xx psf
Is the going currently at $600 psf¿ wat is the gross rental yield based on current price?
devilplate
15-01-11, 17:22
Just got a few calls from agents saying there are viewings tomorrow for my units. There may be real buyers now but not keen to entertain them as they will likely give rock bottom prices now. Anyway, not desperate to sell with good rental yields.
i got irritated by agts these 2 days....telling me measures drastic blah blah...so noisy! hehe....i tink more despo agts den sellers now:D
devilplate
15-01-11, 17:25
Common misconception. I rented out my landed a few mths back. Gross yield for my landed is 3.5%, If you look at nett yield for landed, it may even be higher than condos because, you don't have to pay any maintenance or service charges and ppty tax tends to be lower for landed homes. Furthermore, landed tends to be less volatile in market swings. The only reason why it has shot up so much recently is because more enlightened folks are now realizing the intrinsic value of owning a landed.
does it takes a long time to rent out? my relatives took 4mths to find a suitable tenant(ang mor)...st nicholas there...yield was about 3%
mabe u can reccomend some gd landed areas which is easily rentable?:)
Wild Falcon
15-01-11, 18:34
You HNWI mah :) They need people like you with a lot of ammo to buy up the market.
i got irritated by agts these 2 days....telling me measures drastic blah blah...so noisy! hehe....i tink more despo agts den sellers now:D
devilplate
15-01-11, 18:44
You HNWI mah :) They need people like you with a lot of ammo to buy up the market.
er...i am sure many of us here r HNWI ...no big deal...perhaps only PO is the only UHNWI here?
The Merrill Lynch (http://forums.condosingapore.com/wiki/Merrill_Lynch) - Capgemini (http://forums.condosingapore.com/wiki/Capgemini) World’s Wealth Report 2009 defines HNWIs as those who hold at least US$1 million in financial assets and Ultra-HNWIs as those who hold at least US$30 million in financial assets, with both excluding collectibles, consumables, consumer durables and primary residences.
They want to find desperate sellers to sell cheap cheap so that they can get buyers to buy mah (these buyers all hoping for durians to drop now after Govt's new policies). Got buyers' agents calling asking to sell cheap cheap also. :doh:
The answer is obvious - don't hit my asking price no sell, go fly kite and don't disturb me. :tongue3:
i got irritated by agts these 2 days....telling me measures drastic blah blah...so noisy! hehe....i tink more despo agts den sellers now:D
Just got a few calls from agents saying there are viewings tomorrow for my units. There may be real buyers now but not keen to entertain them as they will likely give rock bottom prices now. Anyway, not desperate to sell with good rental yields.
Stop all viewings if so. This is a black period best reserved for desperate sellers. Let the dust settle first. Why fight when you have holding power?
Regulators
15-01-11, 20:16
This i have to agree with you. If buyers are looking to reap some cheap bargains just after the govt has taken a cheap shot at investors, we should just tell them to balek kampong
Got buyers' agents calling asking to sell cheap cheap also. :doh:
The answer is obvious - don't hit my asking price no sell, go fly kite and don't disturb me. :tongue3:
This i have to agree with you. If buyers are looking to reap some cheap bargains just after the govt has taken a cheap shot at investors, we should just tell them to balek kampong
Like it or not, sub-sale will cool with significant correction, if not crashed.
Investors dont like to see uncertainty & unpredictable market direction.
Latest TV news tonight shows the minister say will continue monitoring, & further measures if necessary..
Not many investors will hold for more than 4 years, so wipe out.
Buyers for own stay, are more likely to sell their existing HDB first, such that they qualify for 80% loan, will look for those completed / near completed new property, to save rental...
BUC properties with 1 or more years to completion will be affected badly...
Those who bought mass condo(99 yrs) recently at more than $1000psf will start to panic, when interest rate starts rising from second half 2011.
Selling will be very difficult unless it's close to TOP..
Seriously, i dont see any reason why ppty price will drop, while the whole Asian economy is boosting, low unemployment rate,stock markets are bullish, SGD is strenthening, credit spread is tighthening, As long as most ppl are still doing well..they tend to take higher risk. The only concern is higher swap rate.
If govt measure can really work and decrease the price by Q2-Q3...>3% drop, u all can call me idiot for the rest of my life....hahaha...dare govt measure.
Stop all viewings if so. This is a black period best reserved for desperate sellers. Let the dust settle first. Why fight when you have holding power?
ironically, i think now's the best time to go for viewings. plenty of space to walk around, no need to crowd with people and agents are extremely patient with you even though you don't look like you're going to write a cheque immediately. :cheers1:
kingkong1984
16-01-11, 06:03
ironically, i think now's the best time to go for viewings. plenty of space to walk around, no need to crowd with people and agents are extremely patient with you even though you don't look like you're going to write a cheque immediately. :cheers1:
You mis quoted him. He is saying Owners should Stop all viewings to Bargain Seekers if they are not desperate and don't have to sell. He did not say Buyers should stop all viewings.
Ironically, you got it WRONG! haha
:cheers1:
Originally Posted by DC33_2008
Just got a few calls from agents saying there are viewings tomorrow for my units. There may be real buyers now but not keen to entertain them as they will likely give rock bottom prices now. Anyway, not desperate to sell with good rental yields.
Seriously, i dont see any reason why ppty price will drop, while the whole Asian economy is boosting, low unemployment rate,stock markets are bullish, SGD is strenthening, credit spread is tighthening, As long as most ppl are still doing well..they tend to take higher risk. The only concern is higher swap rate.
If govt measure can really work and decrease the price by Q2-Q3...>3% drop, u all can call me idiot for the rest of my life....hahaha...dare govt measure.I think ALL of us can confidently call you idiot, now.:p
does it takes a long time to rent out? my relatives took 4mths to find a suitable tenant(ang mor)...st nicholas there...yield was about 3%
mabe u can reccomend some gd landed areas which is easily rentable?:)
Actually quite fast. Within 2 weeks of putting out on market and got a tenant already. Choose landed areas which are close to international schools. Reason being is that large expatriate families tend to need more rooms and space hence landed appeals more to them than apartments. I currently have one which I intend to do some reno and the agents are begging me not to proceed as they have many tenants wanting to rent. It is within 1km to an international school.
e,g. Australian school - Braddell/Lorong Chuan area or even S'goon gardens
Indian school - siglap area.
Difficult to say. We can only guess why such policies are introduced. Very obviously, the new policies are targeted at speculators/flippers. Who/what segments will the new policies affect? My guess is that it is targeted at mass market. With election coming, Govt is doing the masses a favor by halting the increase of mass market private property prices so that the 70% currently living in HDBs can have a chance to fulfill their dreams of upgrading to private condos. Otherwise, the price gap between HDB flats and mass market private condos are getting wider and wider after govt's new regulations that put an end to the escalating COV for HDB flats but not mass market condos. The 70% HDB dwellers will have to thank MBT for the new policies to fulfill their dreams! (Shouldn't they show their thanks with their sacred vote as well? :p). Just personal opinion (Disclaimer: I am not "god" :D).
I think ALL of us can confidently call you idiot, now.:p
Seriously, i dont see any reason why ppty price will drop, while the whole Asian economy is boosting, low unemployment rate,stock markets are bullish, SGD is strenthening, credit spread is tighthening, As long as most ppl are still doing well..they tend to take higher risk. The only concern is higher swap rate.
If govt measure can really work and decrease the price by Q2-Q3...>3% drop, u all can call me idiot for the rest of my life....hahaha...dare govt measure.
Difficult to say. We can only guess why such policies are introduced. Very obviously, the new policies are targeted at speculators/flippers. Who/what segments will the new policies affect? My guess is that it is targeted at mass market. With election coming, Govt is doing the masses a favor by halting the increase of mass market private property prices so that the 70% currently living in HDBs can have a chance to fulfill their dreams of upgrading to private condos. Otherwise, the price gap between HDB flats and mass market private condos are getting wider and wider after govt's new regulations that put an end to the escalating COV for HDB flats but not mass market condos. The 70% HDB dwellers will have to thank MBT for the new policies to fulfill their dreams! (Shouldn't they show their thanks with their sacred vote as well? :p). Just personal opinion (Disclaimer: I am not "god" :D).
[/i]
those hdb upgraders have alrdy upgraded to condos,in the year 2008 and 2009 especially during the period,of mass condo 2bedder 420k are of same prices to those bigger 4rm HDB.
Unfortunately those who still cant upgrade are still living in HDB,NOW..
so which group of HDB upgraders choose to upgrade now,at 600-650k instead in year 2008-2009 when mass condos are cheapest at 420k-450k.
they have accept the reality that they cant upgrade,NOW
May be those who just fulfilled the 5 years MOP for HDB flats? The younger but very vocal generation? Most of the complaints about private properties too expensive and out of reach are from them? :o
The other groups are those who missed the boat in 2002-2005, and again in 2009? If they still miss the boat again this time then they have themselves to blame? :D
those hdb upgraders have alrdy upgraded to condos,in the year 2008 and 2009 especially during the period,of mass condo 2bedder 420k are of same prices to those bigger 4rm HDB.
Unfortunately those who still cant upgrade are still living in HDB,NOW..
so which group of HDB upgraders choose to upgrade now,at 600-650k instead in year 2008-2009 when mass condos are cheapest at 420k.
they have accept the reality that they cant upgrade,at NOW
May be those who just fulfilled the 5 years MOP for HDB flats? The younger but very vocal generation? Most of the complaints about private properties too expensive and out of reach are from them? :o
The other groups are those who missed the boat in 2002-2005, and again in 2009? If they still miss the boat again this time then they have themselves to blame? :D
just fulfilled MOP..?
in fact some frds have sold their parent HDB to upgrade,bcos of their MOP
especially the educated and younger gen know opportunities is hard to come by. they wont want to missed out a chance to upgrade.
they rent out their HDB and stay wf their parents in condo..isnt this phrase familiar in the market.?
Rent out their HDB during MOP period? That is illegal and cannot constitute to MOP? Many people doing such illegal thing? Mmmm, the younger generation has no respect for legal system and don't honour what they sign and agree to HDB rules & regulations? How many actually do this? Probably small percentage only? :beats-me-man:
just fulfilled MOP..?
in fact some frds have sold their parent HDB to upgrade,bcos of their MOP
especially the educated and younger gen know opportunities is hard to come by. they wont want to missed out a chance to upgrade.
they rent out their HDB and stay wf their parents in condo..isnt this phrase familiar in the market.?
Rent out their HDB during MOP period? That is illegal and cannot constitute to MOP? Many people doing such illegal thing? Mmmm, the younger generation has no respect for legal system and don't honour what they sign and agree to HDB rules & regulations? How many actually do this? Probably small percentage only? :beats-me-man:
I just learned that sublet (not rent out whole house) within mop is legal, just need to inform hdb...
I think ALL of us can confidently call you idiot, now.:p
Does it mean i already got a bet? hehehhe...lets look at it again in 30th June 2011...emm..lets spice up a bit..meet up in June 2011 to treat the winner? Dare you Pat.
Regulators
17-01-11, 00:52
for hdb, subletting whole unit and subletting rooms is very different, if not wrong, the law says can sublet whole unit only after 3 years MOP, for rooms, can sublet anytime.
I just learned that sublet (not rent out whole house) within mop is legal, just need to inform hdb...
dunno why i keep thinking of this joke in my head
nair nair! fire fire!
Regulators
17-01-11, 09:26
You referring to devan nair?
dunno why i keep thinking of this joke in my head
nair nair! fire fire!
Just received this from our beloved agents:
Dear Antz,
With the News of Government measures just been release, we would like to bring you the good news that Spottiswoode 18 prices has been revise.
Previously, the estimated prices for 1 bedroom was from $7xxk. Now the new revise prices will start from $6xxk. This would mean that all unit type prices will be revise as well, making it really affordable to own this outstanding location development. This is definitely a good news for everyone. Preview Date of Spottiswoode 18 will still be on 18 Jan.
If you are keen on this outstanding project in District 2 location, Call us at 6xxx xxxx now so that we can do up your documentation for you. This is definitely a very attractive price in District 2 Tanjong Pagar. So don't miss this. Call us for enquiries now.
For more information on pottiswoode 18, kindly follow the link below:
http://www.propertylaunch.sg/Singapore-Property-New-Launch/Spottiswoode-18.php
For e-brochures downloads of Spottiswoode 18, kindly follow the link below:
http://www.propertylaunch.sg/images/spottiswoode18/Spottiswoode18%20Brochure.pdf
Many thanks.
Developer self-declared Firesales? :D
stalingrad
17-01-11, 10:26
Just received this from our beloved agents:
Dear Antz,
With the News of Government measures just been release, we would like to bring you the good news that Spottiswoode 18 prices has been revise.
Previously, the estimated prices for 1 bedroom was from $7xxk. Now the new revise prices will start from $6xxk. This would mean that all unit type prices will be revise as well, making it really affordable to own this outstanding location development. This is definitely a good news for everyone. Preview Date of Spottiswoode 18 will still be on 18 Jan.
If you are keen on this outstanding project in District 2 location, Call us at 6xxx xxxx now so that we can do up your documentation for you. This is definitely a very attractive price in District 2 Tanjong Pagar. So don't miss this. Call us for enquiries now.
For more information on pottiswoode 18, kindly follow the link below:
http://www.propertylaunch.sg/Singapore-Property-New-Launch/Spottiswoode-18.php
For e-brochures downloads of Spottiswoode 18, kindly follow the link below:
http://www.propertylaunch.sg/images/spottiswoode18/Spottiswoode18%20Brochure.pdf
Many thanks.
Developer self-declared Firesales? :D
don't believe it. It is just a marketing gimmick designed to get free press.
Regulators
17-01-11, 10:30
an agent called me yesterday sounding desperate, saying that if I don't book by yesterday or today, the prices will go up by 1-2%. I did not even tell her I was interested in this project and I don't even know how she got my number (maybe from a colleague). She said indication is 17xx psf onwards for spottis 18
Regulators
17-01-11, 10:33
Funny thing is another agent sms me to confirmed meeting me at the shwflt when I did not even fix appointment with him or know him. His name is Alan, kind of desperate
Regulators
17-01-11, 10:34
The two desperate agents from huttons btw
stalingrad
17-01-11, 10:36
agents are hurting now. no, not because they will earn less commissions. they are hurting because they are up to their eyeballs in MM units that they bought to flip and now cannot flip. that 28-year old agent on ST is the proof.
be careful, they are trying to offload their MM units on you.
devilplate
17-01-11, 10:37
Funny thing is another agent sms me to confirmed meeting me at the shwflt when I did not even fix appointment with him or know him. His name is Alan, kind of desperate
tat is hilarious!!!! i keep laughing:D
Funny thing is another agent sms me to confirmed meeting me at the shwflt when I did not even fix appointment with him or know him. His name is Alan, kind of desperate
Haha... next thing you know, he will be smsing you to say that he will be driving down to collect cheque from you....
not sure if you consider this a fire sale...
saw in streetsine today just TOP freehold apartment in tanjong rhu asking below 1000psf, past transactions were above 1200psf... isolated incident?
Wild Falcon
25-01-11, 09:43
U call up the agent first to see if it is a fishing expedition :)
not sure if you consider this a fire sale...
saw in streetsine today just TOP freehold apartment in tanjong rhu asking below 1000psf, past transactions were above 1200psf... isolated incident?
US market supposedly could outperform china and sg this year. just got to be careful of forex risks only. that is also a reason for concern that interest rates could go up sooner than pple expect becoz the US recovery looks real enough.
Just attended an investment bank's conference on Monday. The target for USD/SGD by end of this year is 1.16, not sure what is the best way for retail investor to hedge currency risk.
Thanks,
Richard
Stop all viewings if so. This is a black period best reserved for desperate sellers. Let the dust settle first. Why fight when you have holding power?
I have just started viewing (as buyer), just to keep agents happy (or at least busy).
Thanks,
Richard
Like it or not, sub-sale will cool with significant correction, if not crashed.
\
Buyers for own stay, are more likely to sell their existing HDB first, such that they qualify for 80% loan, will look for those completed / near completed new property, to save rental...
BUC properties with 1 or more years to completion will be affected badly...
\..
HDB owner (like me) will simply fully pay the HDB to get 80% loan. We will then rent out the HDB to pay the condo monthly installament.
Once you sell the HDB, you can never buy it back in the new rule.
Thanks,
Richard
Just came back Singapore after some travelling. One silly question - May I know whether I am affected by the SSD new rule?
I bought a MM in July 2009, if I sell it now, do I need to pay 12% SSD?
... or the new rule only applies to those who buy property after the annoucement? (I doubt so, my friend says it is worth checking.)
Thanks,
Richard
kingkong1984
26-01-11, 07:40
16% after 14 Jan 2011 if selling within 1 year.
Older rule 3% before that. Go ura press release and read...
agent smsed me last night saying pool of units for sale totally dried up, buyers numbers have gone down, but still outnumber available units for sale.
and for the few sellers willing to sell, they have jacked up their asking prices. :beats-me-man:
I am one of those who withdrew offer after the new measures announced. That very weekend, agent told me unit was sold, at the same offer price. Im a buyer for own-stay, not invester. But now I start to wonder what's the real demand out there.
Regulators
26-01-11, 10:11
If you buy for own stay, why you bother about measures?
I am one of those who withdrew offer after the new measures announced. That very weekend, agent told me unit was sold, at the same offer price. Im a buyer for own-stay, not invester. But now I start to wonder what's the real demand out there.
proud owner
26-01-11, 10:15
Just came back Singapore after some travelling. One silly question - May I know whether I am affected by the SSD new rule?
I bought a MM in July 2009, if I sell it now, do I need to pay 12% SSD?
... or the new rule only applies to those who buy property after the annoucement? (I doubt so, my friend says it is worth checking.)
Thanks,
Richard
not affected at all
if bought after 30 aug 2010 ... 3pct SSD for first 3 yrs
if bought on / after 14 jan 2011 ... then its 16, 12, 8,4 %
since you bought in jul 2009 ... you can sell now and no SSD ...
Wild Falcon
26-01-11, 10:16
I was looking at last Sat's classifieds and D22-D24 only has 1-2 columns? Obviously, the sellers have all pulled out lah. Many sellers can hold.
I am one of those who withdrew offer after the new measures announced. That very weekend, agent told me unit was sold, at the same offer price. Im a buyer for own-stay, not invester. But now I start to wonder what's the real demand out there.
thomastansb
26-01-11, 10:20
Low interest + High rental. Most people are getting back 1 to 2k every month after paying off installment. Some who bought big units in 2006 or Q1 2009 are even getting back 3k a month So sell for what? It is not as if the economy is crashing any time soon. Like what you said, strong economic growth in the next few years. If you sell now, you risk buying at a higher price PLUS the transactional fees (eg: stamp duty, agent fee, bank penalty). And when you buy back, you get hit by 16% SSD + 60% LTV if you have a loan (most people do, else stay where?). So conclusion if property prices will drop? Yes. Definitely. Only when the economy turn shitty. We call that property cycle / economic cycle / whatever... And don't forget rental continues regardless of economy performance unless no tenant.
Seriously, i dont see any reason why ppty price will drop, while the whole Asian economy is boosting, low unemployment rate,stock markets are bullish, SGD is strenthening, credit spread is tighthening, As long as most ppl are still doing well..they tend to take higher risk. The only concern is higher swap rate.
If govt measure can really work and decrease the price by Q2-Q3...>3% drop, u all can call me idiot for the rest of my life....hahaha...dare govt measure.
I was looking at last Sat's classifieds and D22-D24 only has 1-2 columns? Obviously, the sellers have all pulled out lah. Many sellers can hold.
agents are not willing to advertise
I was looking at last Sat's classifieds and D22-D24 only has 1-2 columns? Obviously, the sellers have all pulled out lah. Many sellers can hold.
Those looking to sell have increased asking prices, some by 12% in 2 months.
Just step back and watch for now...
Low interest + High rental. Most people are getting back 1 to 2k every month after paying off installment. Some who bought big units in 2006 or Q1 2009 are even getting back 3k a month So sell for what? It is not as if the economy is crashing any time soon. Like what you said, strong economic growth in the next few years. If you sell now, you risk buying at a higher price PLUS the transactional fees (eg: stamp duty, agent fee, bank penalty). And when you buy back, you get hit by 16% SSD + 60% LTV if you have a loan (most people do, else stay where?). So conclusion if property prices will drop? Yes. Definitely. Only when the economy turn shitty. We call that property cycle / economic cycle / whatever... And don't forget rental continues regardless of economy performance unless no tenant.
Thomastansb, valued contributor
KNN you not shy ah? Self appointed title.... :D :D :D
thomastansb
26-01-11, 13:44
Haha. If I shy, you think I will still put? Good one actually. You manage to spot it. Hahahaha.
Thomastansb, valued contributor
KNN you not shy ah? Self appointed title.... :D :D :D
Regulators
26-01-11, 14:02
:confused: ??
KNN you not shy ah? Self appointed title.... :D :D :D
looked hard and finally realised that orange was referring to the title under thomastansb nic ! :doh:
:confused:
Originally Posted by orange
KNN you not shy ah? Self appointed title....
Those looking to sell have increased asking prices, some by 12% in 2 months.
Just step back and watch for now...
Sellers can ask for sky price, but whether there is deal done is another story.
In my estate, there was a fortunate seller sold his penthouse to a China buyer at 10% above market, but this is rare as most buyers and sellers are making informed decision.
If u experienced on the selling of properties, u would know, even in a seller market, it still take months to sell. If in the buyer market, then good luck to the sellers....
HK prices are now running again, but HK property market is very different from Sg....as there is limited land supply
kingkong1984
26-01-11, 17:22
Forum too quiet now. Devil missing?
Forum too quiet now. Devil missing?
busy looking for firesale? :D :D :D
If you buy for own stay, why you bother about measures?
Guess alot of people withdraw their offer after the measures were introduced and rather forfeit $10k - $20k deposit fee cause they foresee ppty mkt will crash and have alot of firesale. And the price drop will be more than the deposit they forfeit... hence alot of withdrawals
So now entire mkt is waiting in anticipation for firesale, but is it going to happen? My guess is like what everyone has mentioned, alot of sellers have holding power, unless economy crashes, no one is willing to sell below their expected price, they rather hold on to it...and if buy back another unit, get slapped with new measures of 16% ssd and 40% ltv.. no point, i also rather hold the unit
Forum too quiet now. Devil missing?
ipad broke down?
kingkong1984
26-01-11, 22:02
ipad broke down?
Haha, iPad user here too. Real easy. Can read and type lying down too.
kingkong1984
26-01-11, 22:04
Guess alot of people withdraw their offer after the measures were introduced and rather forfeit $10k - $20k deposit fee cause they foresee ppty mkt will crash and have alot of firesale. And the price drop will be more than the deposit they forfeit... hence alot of withdrawals
So now entire mkt is waiting in anticipation for firesale, but is it going to happen? My guess is like what everyone has mentioned, alot of sellers have holding power, unless economy crashes, no one is willing to sell below their expected price, they rather hold on to it...and if buy back another unit, get slapped with new measures of 16% ssd and 40% ltv.. no point, i also rather hold the unit
Yes, it will be quiet for a quarter or two. Take a break, enjoy life and maybe moonlight as a car salesman...
These measures will be removed after some time to me, by 4th year. Then the flood gates are opened again.
rattydrama
26-01-11, 22:49
busy looking for firesale? :D :D :Dbuys off loading. no time to visit forum.
devilplate
26-01-11, 22:54
buys off loading. no time to visit forum.
Miss me? Hehe...
Nthing much to tok leh.... Next project to look out for.... Skysuites @anson
rattydrama
26-01-11, 22:55
I was looking at last Sat's classifieds and D22-D24 only has 1-2 columns? Obviously, the sellers have all pulled out lah. Many sellers can hold.
It might be that the agents just stop advertising as all the buyers now asking for fire sale... perhaps after an quarter or 2, the agent will start the same old trick to fish our desperate owner and willing buyer.
devilplate
26-01-11, 22:57
Yes, it will be quiet for a quarter or two. Take a break, enjoy life and maybe moonlight as a car salesman...
These measures will be removed after some time to me, by 4th year. Then the flood gates are opened again.
Now both ppty n car agt eating grass leh.... Next COE up or down? Most ppl say down.... Hmm
rattydrama
26-01-11, 23:01
Miss me? Hehe...
Nthing much to tok leh.... Next project to look out for.... Skysuites @anson
our dear king kong misses your golden words of wisdom.
Now in Indonesia on biz......boring place...sometimes really wonder what other better things to do besides working for others.
Regulators
26-01-11, 23:18
you remember 2008/9? Didnt many people think that the property market would crash? gfoo bought his #4x sail 2 bedder for a mere $14xxpsf and the seller probably thought that the market would crash. I think his seller must be banging his head hard on the wall. There are many such examples of people doing silly things under mass euphoria, but remember that the rich will also do things the reverse and think differently from the masses. When STI was 1400, I remembered UOB Wee making a cool $8 mil from AIA stocks and donated the money to charity. That was a really cool thing to do.
Guess alot of people withdraw their offer after the measures were introduced and rather forfeit $10k - $20k deposit fee cause they foresee ppty mkt will crash and have alot of firesale. And the price drop will be more than the deposit they forfeit... hence alot of withdrawals
So now entire mkt is waiting in anticipation for firesale, but is it going to happen? My guess is like what everyone has mentioned, alot of sellers have holding power, unless economy crashes, no one is willing to sell below their expected price, they rather hold on to it...and if buy back another unit, get slapped with new measures of 16% ssd and 40% ltv.. no point, i also rather hold the unit
you remember 2008/9? Didnt many people think that the property market would crash? gfoo bought his #4x sail 2 bedder for a mere $14xxpsf and the seller probably thought that the market would crash. I think his seller must be banging his head hard on the wall. There are many such examples of people doing silly things under mass euphoria, but remember that the rich will also do things the reverse and think differently from the masses. When STI was 1400, I remembered UOB Wee making a cool $8 mil from AIA stocks and donated the money to charity. That was a really cool thing to do.
is the other oei, not the wee banker
you remember 2008/9? Didnt many people think that the property market would crash? gfoo bought his #4x sail 2 bedder for a mere $14xxpsf and the seller probably thought that the market would crash. I think his seller must be banging his head hard on the wall. There are many such examples of people doing silly things under mass euphoria, but remember that the rich will also do things the reverse and think differently from the masses. When STI was 1400, I remembered UOB Wee making a cool $8 mil from AIA stocks and donated the money to charity. That was a really cool thing to do.
wasn't that Oei instead of Wee?
at least after the measures, the market is neither in euphoric despair or optimism. more healthy.
HK prices are now running again, but HK property market is very different from Sg....as there is limited land supply
Har??? What talking you bro/sis?
SG don't have limited land supply? What planet you from?
If anything i think HK has a lot more land! You know how big HK is or not???? HK is not only Pedder/queen street + nathan rd ok! Kowloon is now bursting at the seams and they have no choice but to expand outwards in north east and west directions.... But no worries as their land is plentiful because new territories is still largely undeveloped.
Don't believe can look at google maps. HK, kowloon, NT, and the surrounding islands are together many times the size of singapore.
Regulators
27-01-11, 02:31
haha i got the two old goats mixed up. :D
is the other oei, not the wee banker
HK land is plentiful but in the OCR equivalent of Singapore. HK CCR is almost fully built-up. Very very little empty land in CCR.
SG land is also plentiful but only in the OCR. SG CCR is almost fully built-up. Very very little empty land in CCR.
Both situations are similar, both are well-liked property investment regions by FEO Ng Teng Fong. Why is HK luxury CCR almost >2x the price of SG luxury CCR? :cheers1:
SG OCR private property prices is now almost same as HK OCR private property prices, but the average income of Hongkongers is 50% more than SG. Is Singaporeans more super & can live and work till 100 years old to afford same price property as Hongkongers who earn 50% more and don't need to pay GST and pay only 17% income tax and car also cheaper? (This will give an answer to those so-called OCR prices supported by fundamentals of income).
Har??? What talking you bro/sis?
SG don't have limited land supply? What planet you from?
If anything i think HK has a lot more land! You know how big HK is or not???? HK is not only Pedder/queen street + nathan rd ok! Kowloon is now bursting at the seams and they have no choice but to expand outwards in north east and west directions.... But no worries as their land is plentiful because new territories is still largely undeveloped.
Don't believe can look at google maps. HK, kowloon, NT, and the surrounding islands are together many times the size of singapore.
Miss me? Hehe...
Nthing much to tok leh.... Next project to look out for.... Skysuites @anson
Initial news that I have got is that the units are MM in the 3xx sqft range. AG developer looking at reducing from high 700+ k to low/mid 700+. Maybe a few low floor units will go at 699k as carrot. Looking to secure a unit or two in this project.
Lets monitor the situation and maybe we can bulk buy together to avoid balloting. One thing for sure, I will not submit my cheque in advanced for greedy developer to raise price during launch. Let them sweat it out with less than expected cheques collected.
kingkong1984
27-01-11, 07:46
Now both ppty n car agt eating grass leh.... Next COE up or down? Most ppl say down.... Hmm
Cat A up, Cat B down. Soft landing expected. Cat A stabilized thereafter at above 30k.
Har??? What talking you bro/sis?
SG don't have limited land supply? What planet you from?
If anything i think HK has a lot more land! You know how big HK is or not???? HK is not only Pedder/queen street + nathan rd ok! Kowloon is now bursting at the seams and they have no choice but to expand outwards in north east and west directions.... But no worries as their land is plentiful because new territories is still largely undeveloped.
Don't believe can look at google maps. HK, kowloon, NT, and the surrounding islands are together many times the size of singapore.
Looking at map is just looking in the surface but not the depth. This is what google map offers u.
If u take the build-able land of HK (hilly) and Sg (flat land) vs the population size of both countries (HK 7m, Sg 5m), and the China mainlander buyers behind, and also the land halting of major HK developers, the land sale policy of HK govt, then u would know what am I talking about.
Also, u need to know how difficult to have enbloc in HK and how difficult o to tear down old buildings.
I have properties in HK and Sg, that is why I know.
Hilly areas can be chopped and become flat, it is whether they want or not. HK is twice the size of Singapore, plus the whole New Territory previously reserved for farming now no need to reserve and open for building new properties. Now HK twice the size only 7m population, Singapore already 5m! Wow! Think Ng Teng Fong will like to invest in Singapore better! :cheers1:
As to China buyers, they also come to Singapore. Singapore actually benefit from a wider range of buyers other than China:- Malaysians, Indonesians, Indians, Russians, Vietnamese, Mynmar etc!
Looking at map is just looking in the surface but not the depth. This is what google map offers u.
If u take the build-able land of HK (hilly) and Sg (flat land) vs the population size of both countries (HK 7m, Sg 5m), and the China mainlander buyers behind, and also the land halting of major HK developers, the land sale policy of HK govt, then u would know what am I talking about.
Also, u need to know how difficult to have enbloc in HK and how difficult o to tear down old buildings.
I have properties in HK and Sg, that is why I know.
Guys here are the facts..... Hk overall land area 3 times bigger than sin.... Only half in terms of build able land.... That isnwhynhk so cramp.... Plus it's not possiblentomchopndown the mountains...money can build a few high rise on it
We have more land by building higher rise.
HK 3x size of SG, but buildable is 50% = 1.5x of SG
SG has BT hill, Mcritchie & seletar etc reservoirs reserved taking up 25% of Singapore, so buildable is 75% = 0.75x of SG.
HK buildable land that can build property still 2x of SG buildable right?
HK 7m population, SG 5m population.
HK population to buildable land = 7m/1.5 = 4.67m
SG population to buildable land = 5m/0.75 = 6.67m.
SG still more dense in terms of population to land, property by right should be more expensive? :p
Guys here are the facts..... Hk overall land area 3 times bigger than sin.... Only half in terms of build able land.... That isnwhynhk so cramp.... Plus it's not possiblentomchopndown the mountains...money can build a few high rise on it
kingkong1984
28-01-11, 07:51
Hong kong, pearl of the orient. Singapore, pearl of wat? Merlion?
Hong kong, pearl of the orient. Singapore, pearl of wat? Merlion?
U don't sound Singaporean...... Put down Singapore ?
Aiyo. Singapore is dragon's ball lah.
Dragon ball goes disappear, the dragon die.:D
Hong kong, pearl of the orient. Singapore, pearl of wat? Merlion?
proud owner
28-01-11, 08:10
Hong kong, pearl of the orient. Singapore, pearl of wat? Merlion?
singapore ..... pearl of COPYCAT ... ???
someone will ask me to give up my spore passport ...again
Singapore is a great country n great place to live! Huat ah
Never mind COPYCAT or what, Singapore is still a great place to live in lah! (at least for now). IMHO better than HK! :cheers1:
singapore ..... pearl of COPYCAT ... ???
someone will ask me to give up my spore passport ...again
kingkong1984
28-01-11, 14:48
U don't sound Singaporean...... Put down Singapore ?
Singaporean.
Cannot compare HK n SG. HK, China people behind it geographically. Singapore? Malaysians and Indonesia behind it? More like eyeing it?
Nice one proud owner :)
I think when comparing HK and SIN, beside population and buildable land, the way the HK land layout also play a part. The HK island is really small and a lot of bukits hence the buildable area in HK island is really limited. Then the KowLoon peninsula area that near the main island are also limited. The rest of the buildable area outside these 2 places are having access problem to them - limited routes to KowLoon and HK island due to the bukits and straits.
Having said that, I however still cannot understand why Hong Kong properties are more than double the price of Singapore's. Anyone any thoughts?
kingkong1984
29-01-11, 19:02
I think when comparing HK and SIN, beside population and buildable land, the way the HK land layout also play a part. The HK island is really small and a lot of bukits hence the buildable area in HK island is really limited. Then the KowLoon peninsula area that near the main island are also limited. The rest of the buildable area outside these 2 places are having access problem to them - limited routes to KowLoon and HK island due to the bukits and straits.
Having said that, I however still cannot understand why Hong Kong properties are more than double the price of Singapore's. Anyone any thoughts?
Magnet for more money to come in. Showcase to Taiwan 'one country - two system' Hong Kong should never fail until Taiwan is reunited. Acceptable?
my neighbour, expat from US,
housing allowance given for stay in Sg is $7,000pm
transferring to HK, housing allowance is $28,000 pm
I think when comparing HK and SIN, beside population and buildable land, the way the HK land layout also play a part. The HK island is really small and a lot of bukits hence the buildable area in HK island is really limited. Then the KowLoon peninsula area that near the main island are also limited. The rest of the buildable area outside these 2 places are having access problem to them - limited routes to KowLoon and HK island due to the bukits and straits.
Having said that, I however still cannot understand why Hong Kong properties are more than double the price of Singapore's. Anyone any thoughts?
Other than HK is hilly, there is lack of public housing. HK Housing Authority builds very few flats for sale, mainly for rent to lower income group. The size of public housing is very small.
Also, HK island and Kowloon, there are tons of old houses with very low density, Govt just cannot demolish them. Lack of available land then
Other than HK is hilly, there is lack of public housing. HK Housing Authority builds very few flats for sale, mainly for rent to lower income group. The size of public housing is very small.
Also, HK island and Kowloon, there are tons of old houses with very low density, Govt just cannot demolish them. Lack of available land then
Thanks Laguna. You brought up a point I overlooked. HK lack of the public housing could be the key factor too.
My friend's friend, expat from US, housing allowance $15k pm. My neighbour, expat from Japan, housing allowance $10k pm. All depends on their expat level (even those with zero housing allowance working here some also termed themselves "expat"). :doh:
my neighbour, expat from US,
housing allowance given for stay in Sg is $7,000pm
transferring to HK, housing allowance is $28,000 pm
since we're on the topic of comparing HK with SGP....
HK is the land of MMs, the typical unit size is 700sqft (3br), that's including common areas.... so for those that are laughing at the size & layout of MMs in singapore (incl me), think again....:)
perhaps it the small size of the units, that makes the high psf price tolerable... the quantum may be comparable to local private prices for the typical HK unit.
since we're on the topic of comparing HK with SGP....
HK is the land of MMs, the typical unit size is 700sqft (3br), that's including common areas.... so for those that are laughing at the size & layout of MMs in singapore (incl me), think again....:)
700sft 3br is still 700sft, can be utilised to become 2br or 1br
whereas 400sft 1br is just it, there is no permutation left
700sft 3br is still 700sft, can be utilised to become 2br or 1br
whereas 400sft 1br is just it, there is no permutation left
don't think the sgp developers have attempted 3br 700sqft yet, 2 br yes...:)
HK 3x size of SG, but buildable is 50% = 1.5x of SG
SG has BT hill, Mcritchie & seletar etc reservoirs reserved taking up 25% of Singapore, so buildable is 75% = 0.75x of SG.
HK buildable land that can build property still 2x of SG buildable right?
HK 7m population, SG 5m population.
HK population to buildable land = 7m/1.5 = 4.67m
SG population to buildable land = 5m/0.75 = 6.67m.
SG still more dense in terms of population to land, property by right should be more expensive? :p
Don't forget 80% stays in HDB in Singapore, so 20% will own private in Sinapore. Let's include another 10% who own both, that's 30%. For HK, let's say 10% homeless or stay in goverment house, that's 90% would own private. So private property population would be:
HK 0.9 x 7m /1.5 = 4.2 m
SG 0.3 x 5m /0.75 = 2 m
HK price will be expensive.
Thanks,
Richard
don't think the sgp developers have attempted 3br 700sqft yet, 2 br yes...:)
Kovan Grandeur! Dist 19, 3bedder 743 sqft
:hell-hath-no-fury:
Kovan Grandeur! Dist 19, 3bedder 743 sqft
I stand corrected... WE ARE BECOMING HK:scared-1:
luckily got HDB to fall back on....:)
I happen to be in Hong Kong now and read in the papers (in HK) a few days ago, that they rate Singapore as the one with most potential for real estate appreciation this year, up from fourth spot last year. Shanghai moves to No. 2. Apparently, Singapore is quite highly regarded and respected for the usual reasons (good governance and potential as financial hub over the next 10 years).
Proud to be Singaporean. :)
:hell-hath-no-fury:
I stand corrected... WE ARE BECOMING HK:scared-1:
luckily got HDB to fall back on....:)
Check out the floor plan of 3 bedder @743 sqft;
http://www.sgpropertyevolution.com/announcements/new-launch-kovan-grandeur/
don't think the sgp developers have attempted 3br 700sqft yet, 2 br yes...:)
You haven't seen Parc Elegance 700 sqft 3 bedder?
Check out the floor plan of 3 bedder @743 sqft;
http://www.sgpropertyevolution.com/announcements/new-launch-kovan-grandeur/
actually doesn't look too bad. The HK units look worse, maybe the their floor areas include common area, so it's actually smaller than 700sqft:)
actually doesn't look too bad. The HK units look worse, maybe the their floor areas include common area, so it's actually smaller than 700sqft:)
In HK, there is this efficiency index of around 70%-80%, This index measures the usable area vs the statutory area which include share of common areas like life lobby, facilities etc. ie, if u buy a 800sq ft, the built is in fact about 70%-80% of 800 sq ft
In HK, bigger units command a higher psf price. Different from Sg
Actually I've been reading a few threads where some mentioned the trend and ways of HK...
Well, I say SCREW the way they do things in HK!
Some things good we should emulate, like hardwork, filial piety, etc...
Some things CRAP like MM and % of usable space, etc... go to H***!
:hell-hath-no-fury: :hell-hath-no-fury: :hell-hath-no-fury:
Thats why dont let em HKie developers and thinking POISON the SPORE landscape!
:tsk-tsk: :tsk-tsk: :tsk-tsk: :tsk-tsk: :tsk-tsk: :tsk-tsk:
Actually I've been reading a few threads where some mentioned the trend and ways of HK...
Well, I say SCREW the way they do things in HK!
Some things good we should emulate, like hardwork, filial piety, etc...
Some things CRAP like MM and % of usable space, etc... go to H***!
:hell-hath-no-fury: :hell-hath-no-fury: :hell-hath-no-fury:
Thats why dont let em HKie developers and thinking POISON the SPORE landscape!
:tsk-tsk: :tsk-tsk: :tsk-tsk: :tsk-tsk: :tsk-tsk: :tsk-tsk:
Wow! I agree 100% Who cares if they are prepared to live like caged animals.
I once had a friend visit me from HK and came to my master bedroom to look at the view over Orchard Road from it.
She told me that in HK a family of 4 would live in something this size. I told her a family of 4 do live in the apartment. She then made it clear she meant their apartment would only be as big as my master bedroom!
What next? Lets live underground in dungeons because they do it in Beijing ?
Wow! I agree 100% Who cares if they are prepared to live like caged animals.
I once had a friend visit me from HK and came to my master bedroom to look at the view over Orchard Road from it.
She told me that in HK a family of 4 would live in something this size. I told her a family of 4 do live in the apartment. She then made it clear she meant their apartment would only be as big as my master bedroom!
What next? Lets live underground in dungeons because they do it in Beijing ?
welcome back :D
Wow! I agree 100% Who cares if they are prepared to live like caged animals.
I once had a friend visit me from HK and came to my master bedroom to look at the view over Orchard Road from it.
She told me that in HK a family of 4 would live in something this size. I told her a family of 4 do live in the apartment. She then made it clear she meant their apartment would only be as big as my master bedroom!
What next? Lets live underground in dungeons because they do it in Beijing ?
Singapore has HDB. that forms the base for the smallest unit. Don't see average private units going below HDB in OCR in the long run...just doesn't make sense. Who will want to pay more to stay in a smaller place.
In CCR, maybe... because there's no more new HDB. So MMs may still find a cliche market for those seeking convenience.
I am advocate of MMs, but not any MMs... CCR MMs....
Be grateful for HDB...:)
Singapore has HDB. that forms the base for the smallest unit. Don't see average private units going below HDB in OCR in the long run...just doesn't make sense. Who will want to pay more to stay in a smaller place.
In CCR, maybe... because there's no more new HDB. So MMs may still find a cliche market for those seeking convenience.
I am advocate of MMs, but not any MMs... CCR MMs....
Be grateful for HDB...:)
at present smallest hdb units are those for elderly and they are of 37 sqm or 398 sqft. AFAIK some MMs are smaller than this lol
at present smallest hdb units are those for elderly and they are of 37 sqm or 398 sqft. AFAIK some MMs are smaller than this lol
:scared-1:
:scared-4:
don't think the sgp developers have attempted 3br 700sqft yet, 2 br yes...:)
I saw okio 2 br 570sqf. Crazy
I saw okio 2 br 570sqf. Crazy
crazy price ?
Singapore has HDB. that forms the base for the smallest unit. Don't see average private units going below HDB in OCR in the long run...just doesn't make sense. Who will want to pay more to stay in a smaller place.
In CCR, maybe... because there's no more new HDB. So MMs may still find a cliche market for those seeking convenience.
I am advocate of MMs, but not any MMs... CCR MMs....
Be grateful for HDB...:)
I would much rather live in 3 room hdb vs MM unit. Nothing wrong with hdb.
kingkong1984
02-02-11, 21:32
I would much rather live in 3 room hdb vs MM unit. Nothing wrong with hdb.
http://ckgroupproperty.blogspot.com/2010/08/for-sale-5rm-hdb.html
I will buy these anytime over mm, if eligible.....
Wild Falcon
02-02-11, 21:32
A doghouse is a doghouse. Doesn't matter if it is CCR doghouse or RCR doghouse. Quality of life would be just as bad. Look at the cage houses in HK - they fetch the highest rental PSF because of the smallness - but that doesn't offer good quality of life - however great the location.
Singapore has HDB. that forms the base for the smallest unit. Don't see average private units going below HDB in OCR in the long run...just doesn't make sense. Who will want to pay more to stay in a smaller place.
In CCR, maybe... because there's no more new HDB. So MMs may still find a cliche market for those seeking convenience.
I am advocate of MMs, but not any MMs... CCR MMs....
Be grateful for HDB...:)
Wild Falcon
02-02-11, 21:42
Hong Kong Cage Homes rent are higher than luxury flats
http://www.asiaone.com/Business/My+Money/Property/Story/A1Story20100502-213616.html
These are the most expensive homes in terms of PSF in HK :) Do we want to go down the same path? That's why we should have a stricter definition of "luxury" like HK - a CCR property below 1000sq ft can't be luxurious and not "prime".
The reality remains that MMs give better rental returns..., hence I refer them for investment. I chose CCR MMs because I want the assurance that I can find tenants in good and bad times.:)
It's a free market of willing landlords and willing tenants... so issue of quality of life in the MMs is up to the preference of tenants.:)
Happy New Year to all :cheers1:
Thanks Laguna. You brought up a point I overlooked. HK lack of the public housing could be the key factor too.
Hmm.. this seems the most plausible explanation. Their demand and supply for public housing is skewed. So probably explained why alot of HK folks have no choice but to take up 2 jobs each to fund a unit?
Regulators
03-02-11, 15:54
Luxury is also space, not just about location.
Hong Kong Cage Homes rent are higher than luxury flats
http://www.asiaone.com/Business/My+Money/Property/Story/A1Story20100502-213616.html
These are the most expensive homes in terms of PSF in HK :) Do we want to go down the same path? That's why we should have a stricter definition of "luxury" like HK - a CCR property below 1000sq ft can't be luxurious and not "prime".
kingkong1984
03-02-11, 18:01
Luxury is also space, not just about location.
Excellent point. MM at OCR is worst than Woodlands Jumbo. Got spare change for a porky too plus years of petrol. That's how Singapore is. Well connected.
Luxury is also space, not just about location.
MMs are not luxurious, let face the fact... thou developers try to market them as such.
anyway, the word "luxury" is used too liberally, every project claims to be luxurious. (by developers):doh:
Assume 2 hotel rooms, 1 big size but in Woodlands and cheap, 1 much smaller size and much more expensive but in centre of Orchard (assume budget is not a problem), which would majority of the tourists choose?
Luxury is also space, not just about location.
i think it depends on whether short or long stay.
short stay - will not mind staying at the more convenient, though more expensive, more central area. afterall, tourist is not expected to stay in the hotel room the whole day.
long stay - then the cheaper cost may come in.
anyway if the place is near or next to mrt, it may not even matter where they stay; even if it is not a hotel, right?
Assume 2 hotel rooms, 1 big size but in Woodlands and cheap, 1 much smaller size and much more expensive but in centre of Orchard (assume budget is not a problem), which would majority of the tourists choose?
i think it depends on whether short or long stay.
short stay - will not mind staying at the more convenient, though more expensive, more central area. afterall, tourist is not expected to stay in the hotel room the whole day.
long stay - then the cheaper cost may come in.
anyway if the place is near or next to mrt, it may not even matter where they stay; even if it is not a hotel, right?
I have been driving for many years, but beginning to feel that I should also stay near an MRT station and try taking the train instead. Sometimes it is really more inconvenient to drive than to take the train especially on days when the jams everywhere are horrible. Sometimes there is no escape whether you are on ECP, AYE, CTE, or PIE. All jam. If the properties are near train stations which are within 2 to 3 stops from Orchard or City Hall/Marina Bay, they will be popular choices.
Also, being a frequent flyer, I will definitely much rather stay near shopping/food areas than be stuck in some suburbs. I won't stay in Woodlands for instance, even if I can get a 6 room flat for the equivalent price of a 2 bedder in East Coast.
kingkong1984
04-02-11, 09:06
Assume 2 hotel rooms, 1 big size but in Woodlands and cheap, 1 much smaller size and much more expensive but in centre of Orchard (assume budget is not a problem), which would majority of the tourists choose?
Tourist, no choice, short stay.
Home stay, got plenty of choices, long stay.
Tourist money are easy money.
Have to go home and brag! Show pics and videos too.
I stayed at orchard road MM, 5 stars. Etc versus, I stayed in a president suite at Woodlands.
Excellent point. MM at OCR is worst than Woodlands Jumbo. Got spare change for a porky too plus years of petrol. That's how Singapore is. Well connected.
If I'm a single person working in the CBD, i'll go for the MM in the OCR. What am i going to do with a Jumbo HDB, in woodlands somemore....:scared-3: Will spend half my free time cleaning the jumbo and the remaining half commuting to work:banghead:
kingkong1984
04-02-11, 09:36
If I'm a single person working in the CBD, i'll go for the MM in the OCR. What am i going to do with a Jumbo HDB, in woodlands somemore....:scared-3: Will spend half my free time cleaning the jumbo and the remaining half commuting to work:banghead:
Yes, agree. Single gor for mm, got family ones... Haha
Luxury in space must come appreciated. Single staying in landed at Sembawang sure beats staying at Mm in town.
Wild Falcon
04-02-11, 10:36
Why would a frequent flyer prefer to stay in shopping area? As a frequent flyer, I actually appreciate the concept of home more - and try to avoid overly crowded shopping malls at home. Home becomes more of an sanctuary instead of another claustrophobic hotel room or MM near a packed shopping mall (like Parkway Parade). What I'm trying to say is, not everyone is the same as you lor. It's funny but you would surprised people who stay overseas for many years actually prefer to go to the suburbs or what is affectionately known as the heartlands instead of the touristy Orchard Road etc.
I have been driving for many years, but beginning to feel that I should also stay near an MRT station and try taking the train instead. Sometimes it is really more inconvenient to drive than to take the train especially on days when the jams everywhere are horrible. Sometimes there is no escape whether you are on ECP, AYE, CTE, or PIE. All jam. If the properties are near train stations which are within 2 to 3 stops from Orchard or City Hall/Marina Bay, they will be popular choices.
Also, being a frequent flyer, I will definitely much rather stay near shopping/food areas than be stuck in some suburbs. I won't stay in Woodlands for instance, even if I can get a 6 room flat for the equivalent price of a 2 bedder in East Coast.
Why would a frequent flyer prefer to stay in shopping area? As a frequent flyer, I actually appreciate the concept of home more - and try to avoid overly crowded shopping malls at home. Home becomes more of an sanctuary instead of another claustrophobic hotel room or MM near a packed shopping mall (like Parkway Parade). What I'm trying to say is, not everyone is the same as you lor. It's funny but you would surprised people who stay overseas for many years actually prefer to go to the suburbs or what is affectionately known as the heartlands instead of the touristy Orchard Road etc.
he should stay Changi if he really flies so often...or pasir ris
i am a frequent flyer myself (100K miles at least per annum) but i stay in the northern suburbs...like you said, no place like home :cheers1:
So guys I want to find out if there is indeed any firesale going on now? Or still stalemate going on? ornare buyers still buying atbcurrent prices?
Regulators
04-02-11, 17:08
prices holding steady, I think we could see softening of prices for new launches when interest rates start hiking upwards
So guys I want to find out if there is indeed any firesale going on now? Or still stalemate going on? ornare buyers still buying atbcurrent prices?
So guys I want to find out if there is indeed any firesale going on now? Or still stalemate going on? ornare buyers still buying atbcurrent prices?
There has to be something other than the measures for firesales. Owners are not desperate to sell with good rentals and low interest....
Higher interest, some other crisis... than we're talking....
kingkong1984
04-02-11, 21:34
Those who had secured loans earlier would continue to finance them. Own money or rental don't matter.
In all times, you have a small group of them who would need to sell off their assets due to loss of job, marital separation, migration, Ill health and so on.
Out of these, a small group would have a hard time finding buyers even if it's cheap due to bad facing etc. So the saying goes, you pay for what you get. Firesales are bad buys.
In bad times, prized assets could be offered for sale due to liquidity problems etc. Firesales can be good buys then.
Are we having a bad time now? It will come and we all know it's here when it's here. But we cannot predict when it will come. Try harder.
Your words are too general to be of any help to my investment decision. :D
Could you may be more precise in your call on:
1) Is it time to buy or sell?
3) If not time, When to buy or sell?
2) Which to buy and which to sell?
Are you a analyst? :cheers1:
Those who had secured loans earlier would continue to finance them. Own money or rental don't matter.
In all times, you have a small group of them who would need to sell off their assets due to loss of job, marital separation, migration, Ill health and so on.
Out of these, a small group would have a hard time finding buyers even if it's cheap due to bad facing etc. So the saying goes, you pay for what you get. Firesales are bad buys.
In bad times, prized assets could be offered for sale due to liquidity problems etc. Firesales can be good buys then.
Are we having a bad time now? It will come and we all know it's here when it's here. But we cannot predict when it will come. Try harder.
nobrainer32007
04-02-11, 22:50
still waitng for real firesales till my neck long long...
Seem like the conclusion is that there will be no firesale from this set of measures.... Or is it because we are all condo owners so we are trying to talk it up? Or is is really going to have no firesale.... What do you think will happen from now till march and thereafter?
thomastansb
05-02-11, 01:52
Real firesale happens when crisis hits. This has happened before, will always happen and it is the only time where it happens.
Look at URA trend. Yes, there might be a very slight dip somewhere. Like 1-2 points drop but that is not firesale. Look at those big big drops. Only crisis, you can see it. To me, 5% below market price is not firesale. 2009 Q1, those are firesales. 30-40% below 2007 peak. And as I mentioned, it only happens during crisis.
Seem like the conclusion is that there will be no firesale from this set of measures.... Or is it because we are all condo owners so we are trying to talk it up? Or is is really going to have no firesale.... What do you think will happen from now till march and thereafter?
still waitng for real firesales till my neck long long...
Are you an owner too? Why don't you start the firesale by fire-selling yours first. :) Otherwise, yes.... wait long long.....
kingkong1984
05-02-11, 06:41
Your words are too general to be of any help to my investment decision. :D
Could you may be more precise in your call on:
1) Is it time to buy or sell?
3) If not time, When to buy or sell?
2) Which to buy and which to sell?
Are you a analyst? :cheers1:
General words are wise words.
It's not meant as an investment advice.
Is it a time to buy or sell. It's not a time to buy, so it also means not a time to sell. At least wait for removal of SSD. It will be removed later.
When to buy and sell? When the whole world is selling or buy as a first mover. Sell when it makes sense to sell. When at least two buyers will make the offer at valuation price.
Which to buy? Buy one that even the HDB folks would want to buy. The one that a lot of people want to buy and can buy. No point buying a GCB when a lot of people cannot buy.
Me? Do I sound like a analyst when I talk nonsense and my words are too general. You will not get a real answer here.
Your words are too general to be of any help to my investment decision. :D
Could you may be more precise in your call on:
1) Is it time to buy or sell?
3) If not time, When to buy or sell?
2) Which to buy and which to sell?
Are you a analyst? :cheers1:
He is probably not, but he may be richer than all of us here since he has the time to post the most (apart from devilplate) :D
You won't get any precision from him, he'll give you things like 'some units are bad, some are good, wait and see, long run may change, this may affect this, that may be affected, nobody knows, etc' - all very good advice I'm sure you'll agree ;)
He has yet to buy his first condo so sometimes his 'advice' could be for himself I think...more rhetorical in that sense
kingkong1984
05-02-11, 06:50
Nothing to gain, why share?
No need to be too precise when you don't want to be precise.
No unit to share is better when you want to remain anonymous, why be a subject of attacks.
No perfect condo
No perfect price
No perfect location
No perfect floors
No perfect facings
Any condo you share, sure get attacked. So.....
Nothing to gain, why share?
No need to be too precise when you don't want to be precise.
No unit to share is better when you want to remain anonymous, why be a subject of attacks.
No perfect condo
No perfect price
No perfect location
No perfect floors
No perfect facings
Any condo you share, sure get attacked. So.....
If you don't want to get attacked, wouldn't it be better not to post anything at all? (I haven't come across ,'say, so and so has not been posting for some time, let's go flame him!') :p
Posting general common-sense statements not as good as posting nothing :D
kingkong1984
05-02-11, 07:19
If you don't want to get attacked, wouldn't it be better not to post anything at all? (I haven't come across ,'say, so and so has not been posting for some time, let's go flame him!') :p
Posting general common-sense statements not as good as posting nothing :D
Agree.. I post for other reasons, for my own learning too. Say A and get attacked, then I know lor. Say Gd views, get attacked. Says too much, get tracked and attacked.
Maybe should fade like devil plate. :)
I did come across a fire sale by a fund about 4 months back, where a overseas fund downloading quite a number of units, a condo at Bukit Timah.
Unfortunately, when I got the news, left with only one unit, where the buyer looking for partner to share the risk. But the buyer did not know me well, so declined my offer to join in.
The firesale was about 10% or $250psf below market.
To look for firesales, one needs to have the network and ready cash and very quick in offer.
Agree.. I post for other reasons, for my own learning too. Say A and get attacked, then I know lor. Say Gd views, get attacked. Says too much, get tracked and attacked.
Maybe should fade like devil plate. :)
Lately forum becoming a boxing ring or worst wrestling, step onto ring, get ready to be wallop left right and centre. Tis is not good, forum meant to air views, take the positive, comments that i dun agree, I just ignore, can't be "master Bao" trying to fend off and dun try to convince others. My view, ya. Realized Devil also post less now...
The purpose of this forum is for the exchange of views, differing views. If everyone has the same view, then it doesn't serve any purpose....
With differing views, one just has to agree to disagree.
But when the comments get personal, it doesn't serve anyone any good. That's when both parties should just back off. The problem is when everyone wants the last word, that's when it starts to get ugly.:(
US unemployment rate is improving - a critical leading indicator for Feb to raise interest rate. If we look at the major economies worldwide, interest rates rise will be the trend. (no brainers, even my son knows that). Australia, India, China, Bank of England, ECB, Bank of Japan (yes! BOJ has to raise rate). Eventually Fed has to raise rate (otherwise even less people will want Green Back.)
SOR and SIBOR will rise!
It is indeed already reflected into the DBS share price: with interest rate rise, DBS can make a wider interest rate spread profit. If after Election, DBS share price still rise, that is a good leading indicator for interest rate hike.
I have a friend who has lost his job end of last year. He stays in a bigger unit, having more children, paying 5 times of Internet/Phone bill than mine. But he was borrowing money from me for daily expenses. What shocked me is the amount of the money: S$100 each time!
When I told my fellow worker about my shock, he says it is normal for some Singaporeans to over commit. I couldn't believe how can people leverage to such extend untill I see another case with my eyes:
Another friend from Malaysia who is not making any more money than I do. But he has just bought The Parc near Climenti, bought a brand new Audi. I won't be surprise he is borrowing max from the bank.
Even my banker is encouraging me to use my 1.2M credit line to buy a unit in Holland V. But I simply enjoy debt free life style!
We are all talking about a property bubble in China, but the mortgage loan is only 20% of the bank loans there. In Singapore, mortgage loan is already 50% of bank loans.
One will never know he is ALREADY in the bubble.
I trust my Germany bank friend: cash is king!
When interest rate hike comes, true fire sale (>30% down) will come.
You don't even need the network or connection to get a deal.
Anyone could buy Citibank at USD1, or DBS at S$7, or COE at 5K 2 years ago.
Anyone could buy FH at 800 psf in the next crisis (in 2012?)
And I fully agree if you want to buy on an uptrend towards the end of the crisis (rather than painful buying at a downtrend – normally big players do that) , a leading indicator will be the cut of SSD.
Just get the cash ready!
Thanks,
Richard
Agree, those who are seriously intending to buy properties should start saving up now. Many people are over-leveraged in properties, cars & credit cards here. With so many instabilities around the world and Singapore's open economy, we should be seeing property cycles quite often.
kingkong1984
06-02-11, 06:59
Nothing to lose by saving.
Everything to lose by over comitting.
Wait for the next dip.
It will come.
words of wisdom, shall keep my ang bao money then :spliff:
The purpose of this forum is for the exchange of views, differing views. If everyone has the same view, then it doesn't serve any purpose....
With differing views, one just has to agree to disagree.
But when the comments get personal, it doesn't serve anyone any good. That's when both parties should just back off. The problem is when everyone wants the last word, that's when it starts to get ugly.:(
I totally agree.... Hope we can have a good debate....
Agree, those who are seriously intending to buy properties should start saving up now. Many people are over-leveraged in properties, cars & credit cards here. With so many instabilities around the world and Singapore's open economy, we should be seeing property cycles quite often.
The problem is people cannot keep cash lying around doing nothing.... Either must buy cars, shares or holidays... So when crisis comes no money to buy anything.... Cornetist that have the money they are too risk adverse hence they have all their money sitting in the bank so when crisis hit, they will think they want to wait for prices to fall more, then miss the boat and the whole cycle starts again..... Round and round we go again :doh:
thomastansb
06-02-11, 12:45
Agree. Must still commit to a bit, never exit the whole market. Because the next dip might come 5 years later. Save something, invest something. Never save all or invest all. Too risky.
Nothing to lose by saving.
Everything to lose by over comitting.
Wait for the next dip.
It will come.
Yes, those already with condo and a sizable loan should wait for a clear downturn (>10% drop) before committing another unit. Don' really have to wait too long. I think it should be within the next few quarters, if the immigration number doesn't go up drastically.
kingkong1984
06-02-11, 15:27
Visited Toa Payoh hub lately. You can see lots of supplies. Studio, 2 rooms, 3 rooms, 4 rooms and 5 rooms. No executive or mansionette. New 4 room or 5 room layout beats a lot of condos. Go and see and you will know what I am talking about. No time to visit? Visit on Sundays, whole day.
Regulators
06-02-11, 15:54
Did you submit your application? Toa payoh is a good area for hdb. I heard from relative that 3 rm flat opposite nex mall already 400k, so you won't go wrong getting a new flat in toa payoh
Visited Toa Payoh hub lately. You can see lots of supplies. Studio, 2 rooms, 3 rooms, 4 rooms and 5 rooms. No executive or mansionette. New 4 room or 5 room layout beats a lot of condos. Go and see and you will know what I am talking about. No time to visit? Visit on Sundays, whole day.
kingkong1984
06-02-11, 15:58
Agree. Toa Payoh n bishan area are my targeted areas. Not eligible for new applications. Duno happy problem or not.
Regulators
06-02-11, 16:00
Cov dropped in every estate except tp, that speaks a lot about the desirability of the estate
kingkong1984
06-02-11, 16:05
Cov dropped in every estate except tp, that speaks a lot about the desirability of the estate
HDB hub there, where it goes,. Heh heh heh.
Toa payoh is considered very central. Idea for school going kids and working adults. Thanks for sharing :)
rattydrama
08-02-11, 22:57
I totally agree.... Hope we can have a good debate....
when postings get too personal, it is an indication to retreat and stop posting on that particular subject otherwise all sorts of attack will follow. It takes 2 hands to clap.
To win is to loose & to loose is to win. :spliff:
rattydrama
08-02-11, 23:00
Agree. Must still commit to a bit, never exit the whole market. Because the next dip might come 5 years later. Save something, invest something. Never save all or invest all. Too risky.
well maybe one can save for 10 years and when the market drop 20%, go in, drop another 30%, throw towel and go in again ... most likely can save 20 years of working life.
I am accumulating my bullets again now.
rattydrama
08-02-11, 23:05
Visited Toa Payoh hub lately. You can see lots of supplies. Studio, 2 rooms, 3 rooms, 4 rooms and 5 rooms. No executive or mansionette. New 4 room or 5 room layout beats a lot of condos. Go and see and you will know what I am talking about. No time to visit? Visit on Sundays, whole day.
agree. to add, the HDB building spec is much better than most of the condos. very durable. my mother's HDB window still in useable condition for over 30 years and there is no sign of wear and tear.
rattydrama
08-02-11, 23:09
HDB hub there, where it goes,. Heh heh heh.
Toa payoh is considered very central. Idea for school going kids and working adults. Thanks for sharing :)
as far as I could recall TYP flat near MRT asking for 500K (should be 5 room stand to be corrected) in 2006 and there is no short of takers whereas the price of woodlands estate is depressed with no takers.
typ continues to be as hot.
proud owner
09-02-11, 07:35
as far as I could recall TYP flat near MRT asking for 500K (should be 5 room stand to be corrected) in 2006 and there is no short of takers whereas the price of woodlands estate is depressed with no takers.
typ continues to be as hot.
if theres any swamps left in singapore go buy ...
they will turn to gold
TPY , watten ...both were swamps before
rattydrama
09-02-11, 22:13
if theres any swamps left in singapore go buy ...
they will turn to gold
TPY , watten ...both were swamps before
Not to forget Holland, Tiong Bahru but not sure it was also swamps.....Im dont live that old :p
well maybe one can save for 10 years and when the market drop 20%, go in, drop another 30%, throw towel and go in again ... most likely can save 20 years of working life.
I am accumulating my bullets again now.
The problem is that after you have saved for 10 years, your allowable loan period also decreases, so what then? :) Also, there is no telling that when the market drops by 20% then, that your job will be secure. What if you lose your job then? I'm sure many have this dilemma and refuse to make the first step towards even trying.
rattydrama
09-02-11, 23:25
The problem is that after you have saved for 10 years, your allowable loan period also decreases, so what then? :) Also, there is no telling that when the market drops by 20% then, that your job will be secure. What if you lose your job then? I'm sure many have this dilemma and refuse to make the first step towards even trying.
Well, could have paid your existing apartment in full over the 10 year period. You can leverage on it if the market turn south. When the market bounce, good.
Job security has to be assessed and considered separately.
My experience is if make too much considerations will end up no where.
Well, could have paid your existing apartment in full over the 10 year period. You can leverage on it if the market turn south. When the market bounce, good.
Job security has to be assessed and considered separately.
My experience is if make too much considerations will end up no where.
That is provided you already have an apartment and already halfway paying for it. What about those in the late 20s, 30s buying their first property? You are right that if we think too much, we end up not buying... but if we don't even make the first step under any circumstance, property investment may never happen. Can only observe and envy others!
No risk no returns.... Follow the hongkongers. Just invest... If market turn south, get out fast, if you don't get out fast enough then bankrupt and start over... Anyway your hdb is safe from creditors if you take a loan from hdb....
But if market remians firm and continue to appreciate then in 5 years time, you will be really happy you bought five years earlier.... Gift will never let property drop too much.... If 100 years once global financial crisis only cause property prices to drop for 1 year and now we are back to all t e hi then what are the chances that prices will drop? U less you have a triple whammy like 1997 Asian financial crisis, then 911 then SARS, only then prices can drop for 5 years... So if you can hold for five years then go buy....
If you really lose your job then sell the hdb and stay in the condousinf the cash you gain from selling your hdb and right out the bad times....
Only then you can make money... Always play it safe confirm cannot make money... No risk but can make money who don't want? Thats why those who don't take calculated risk a will not make it....
rattydrama
10-02-11, 00:36
That is provided you already have an apartment and already halfway paying for it. What about those in the late 20s, 30s buying their first property? You are right that if we think too much, we end up not buying... but if we don't even make the first step under any circumstance, property investment may never happen. Can only observe and envy others!
I think you have heard this many times. First apartment should be a HDB. Once 5 year MOP achieved, you can then decide to sell or still keep and buy another "undervalue" apartment. during this 5 year period, accumulate cash.
actually this is a very simple strategy but many have overlooked -
go for undervalue re-sale property in today's market condition.
when u in yr 20s or 30s can take abit of risk cos you can afford to fail. But if you reach 40s, its harder to setep out... and you could be sitting and ask why you did not do it... :banghead: :banghead:
my 2 cents
I think you have heard this many times. First apartment should be a HDB. Once 5 year MOP achieved, you can then decide to sell or still keep and buy another "undervalue" apartment. during this 5 year period, accumulate cash.
actually this is a very simple strategy but many have overlooked -
go for undervalue re-sale property in today's market condition.
when u in yr 20s or 30s can take abit of risk cos you can afford to fail. But if you reach 40s, its harder to setep out... and you could be sitting and ask why you did not do it... :banghead: :banghead:
my 2 cents
That is the correct strategy.. I totally agree.. The problem is the young people now want to own condo or resale hdb in good areas straight away lol
rattydrama
10-02-11, 00:56
That is the correct strategy.. I totally agree.. The problem is the young people now want to own condo or resale hdb in good areas straight away lol
we have one forumer plough through all OCR condos in the north and earn decent profits with his super low psf penthouse unit because he sees value. another is the RH regulators....
so is it expensive? :tsk-tsk: :tsk-tsk: expensive imho is defined as buying at a price higher than the expected potential value opinion by the gurus...which could be the gov, the investors, analyst and our assessment on the surroundings.
my:2cents:
HDB owner (like me) will simply fully pay the HDB to get 80% loan. We will then rent out the HDB to pay the condo monthly installament.
Once you sell the HDB, you can never buy it back in the new rule.
Thanks,
Richard
i thought new ruling you have to sell your hdb within 6mths once you purchase a pte pty?
That is the correct strategy.. I totally agree.. The problem is the young people now want to own condo or resale hdb in good areas straight away lol
heard from an agent one of his clients who bought a very expensive property, got checked by iras, and the property 'confiscated' :confused:
does iras always check into people buying properties? or just for statistics? anyone have such experiences to share?
i thought new ruling you have to sell your hdb within 6mths once you purchase a pte pty?
it's the other way round, buy resale hdb must dispose pte, 6mths.
heard from an agent one of his clients who bought a very expensive property, got checked by iras, and the property 'confiscated' :confused:
does iras always check into people buying properties? or just for statistics? anyone have such experiences to share?
Client's name KSW from SLA, senior IT staff? haha :D
kingkong1984
10-02-11, 20:24
it's the other way round, buy resale hdb must dispose pte, 6mths.
What happens if no buyers? Or cannot get good price?
What happens if no buyers? Or cannot get good price?
Change agent. :D
if no buyers likely the asking too high liao. No viewings then it's more worrying. :scared-5:
Client's name KSW from SLA, senior IT staff? haha :D
details I don't ask lah..... , just heard about iras call up people randomly and check. I'm sure people wants to sleep in peace:sleep:
Back to the title of this thread..... Any firesale so far? Let's gather some feedback on the current market sentiments.... Are there still good vou,es in the market or dead quiet?
rattydrama
10-02-11, 23:36
Back to the title of this thread..... Any firesale so far? Let's gather some feedback on the current market sentiments.... Are there still good vou,es in the market or dead quiet?
D13 2 bedder i bio asking for 1.1m. 1m cheque rejected. din see any coming for far....
Wild Falcon
11-02-11, 10:00
No. Some areas prices still heading higher. U can try some "standard size" units in D10 - Holland-Mt Sinai area prices seem weak n not moved much. Standard size means 1200 sq ft and above.
Back to the title of this thread..... Any firesale so far? Let's gather some feedback on the current market sentiments.... Are there still good vou,es in the market or dead quiet?
heard from an agent one of his clients who bought a very expensive property, got checked by iras, and the property 'confiscated' :confused:
does iras always check into people buying properties? or just for statistics? anyone have such experiences to share?
The only reason that IRAS can do this, is yr friend evade lot of taxes
penalty 3 times plus tax payable
+ interest
proud owner
11-02-11, 10:27
The only reason that IRAS can do this, is yr friend evade lot of taxes
penalty 3 times plus tax payable
+ interest
they can be fined
but how to confiscate a property ?
they can be fined
but how to confiscate a property ?
agreed, IRAS needs to go thru a proper process
thomastansb
11-02-11, 11:53
Ya, how IRAS confiscate? If it is IRAS, it should be tax related. Else, if the money appears out of nowhere, it would be CPIB.
agreed, IRAS needs to go thru a proper process
it's the other way round, buy resale hdb must dispose pte, 6mths.
so if I am still staying in HDB I can buy a pte pty yet don't have to sell away my HDB (if I fulfill 5 years MOP)?
kingkong1984
11-02-11, 17:38
Ya, how IRAS confiscate? If it is IRAS, it should be tax related. Else, if the money appears out of nowhere, it would be CPIB.
owe property tax lor... months and years until tax man cannot take it anymore.
It's not really confiscate, forced sales only.
confiscate must be due to cheating govt... one government, same pocket. Money from drugs same same. Use to buy properties same same.
kingkong1984
11-02-11, 18:25
Possible ones - below valuation?
http://www.propertyguru.com.sg/listing/3115361/for-sale-lakeside-tower
http://www.propertyguru.com.sg/listing/965914/for-sale-summerdale
http://www.propertyguru.com.sg/listing/3076774/for-sale-summerdale
http://www.propertyguru.com.sg/listing/2762820/for-sale-kew-gate
http://www.propertyguru.com.sg/listing/2335293/for-sale-kew-residencia
http://www.propertyguru.com.sg/listing/2164350/for-sale-lilydale
http://www.propertyguru.com.sg/listing/654570/for-sale-changi-garden
http://www.propertyguru.com.sg/listing/2930254/for-sale-sunny-palms
http://www.propertyguru.com.sg/listing/3101956/for-sale-baywater
http://www.propertyguru.com.sg/listing/3013349/for-sale-pinevale
http://www.propertyguru.com.sg/listing/3082784/for-sale-elias-green
http://www.propertyguru.com.sg/listing/1865649/for-sale-northoaks
http://www.propertyguru.com.sg/listing/2800034/for-sale-hilltop-grove
http://www.propertyguru.com.sg/listing/1315084/for-sale-jewel-chuan-hoe
http://www.propertyguru.com.sg/listing/1299329/for-sale-the-lighthouse
http://www.propertyguru.com.sg/listing/2882217/for-sale-loyang-valley
http://www.propertyguru.com.sg/listing/3103195/for-sale-euphony-gardens
http://www.propertyguru.com.sg/listing/799023/for-sale-regent-heights
http://www.propertyguru.com.sg/listing/2839680/for-sale-northvale
http://www.propertyguru.com.sg/listing/3087364/for-sale-sembawang-cottage
http://www.propertyguru.com.sg/listing/935749/for-sale-montrosa
http://www.propertyguru.com.sg/listing/1805115/for-sale-orchid-park-condo (nice views)
http://www.propertyguru.com.sg/listing/2397800/for-sale-the-canopy (penthouse with no takers - direct developer's)
http://www.propertyguru.com.sg/listing/1826491/for-sale-yishun-emerald (owner upgrading to newer devt?)
http://www.propertyguru.com.sg/listing/1758627/for-sale-sunny-palms (below valuation)
http://www.propertyguru.com.sg/listing/2880088/for-sale-atelier-villas (formerly known as amanusa?)
http://www.propertyguru.com.sg/listing/2403089/for-sale-sims-green (fire sale near MRT, Geylang)
http://www.propertyguru.com.sg/listing/1903396/for-sale-northvale (cheaper than HDB?)
Anyone?
Cheap not necessarily good. Good not necessarily cheap.
Probably it's the properties that are now over-valued...
No. Some areas prices still heading higher. U can try some "standard size" units in D10 - Holland-Mt Sinai area prices seem weak n not moved much. Standard size means 1200 sq ft and above.
I know Glentrees is not moving much - maybe because of the train noise?
It looks good to me - prime FH at 1400 psf though quite far from future MRT
I know Glentrees is not moving much - maybe because of the train noise?
It looks good to me - prime FH at 1400 psf though quite far from future MRT
Talking about changes... are there any readily available data source that gives psf history for >1Y please? :confused: seems like standard URA and streetsine only have data up to 1Y... Thank you~~
so if I am still staying in HDB I can buy a pte pty yet don't have to sell away my HDB (if I fulfill 5 years MOP)?
link
http://www.hdb.gov.sg/fi10/fi10325p.nsf/w/PrivatePtyEligibility?OpenDocument
No. Some areas prices still heading higher. U can try some "standard size" units in D10 - Holland-Mt Sinai area prices seem weak n not moved much. Standard size means 1200 sq ft and above.
Which project at holland mt Sinai good? And why glen tree never move? The train tracks gonna be remove soon and I think that development quite nice....
it's the other way round, buy resale hdb must dispose pte, 6mths.
ha ha, it might well happen if property prices continue to climb ahead of economic fundamentals. Must sell HDB within 6 months after condo TOP....sure kill the market one.
A lot of the price escalation for pte pty are driven by demand from existing HDB dwellers. But govt only control pte pty dwellers from buying HDB. Why hor?
proud owner
23-02-11, 07:40
I know Glentrees is not moving much - maybe because of the train noise?
It looks good to me - prime FH at 1400 psf though quite far from future MRT
am i right to say that Glentree sits on a low ground ? feels like a valley ...
also Moonbean ...
any drainage issues there ??
proud owner
23-02-11, 07:43
Which project at holland mt Sinai good? And why glen tree never move? The train tracks gonna be remove soon and I think that development quite nice....
i personnally like Ridgewood and pandan valley
for its huge units and land size
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