View Full Version : Possible Cooling Measures???
Condo Kaiser
24-02-11, 13:15
I believe many people are thinking the same:
:hell-hath-no-fury: IS THE GOVT GOING TO SPANK US ONE MORE TIME?:hell-hath-no-fury:
So let's have a discussion here to see what further measures you think is up their sleeves.
It could be
Extension of SSD from 4 years to 5 years? Become like HDB MOP?:banghead:
Increase SSD above 20%?
Ban 3rd home buying? (like China)
Ban foreigner buying?
Increase Buyer Stamp Duty to 5%?
Capital Gain Tax?
Please share your view.
Condo Kaiser
24-02-11, 13:16
I personally hope there will be no more measures.
And I also feel chances are there won't be anymore measures.
But I could be wrong.
Welcome your thoughts
I believe many people are thinking the same:
:hell-hath-no-fury: IS THE GOVT GOING TO SPANK US ONE MORE TIME?:hell-hath-no-fury:
So let's have a discussion here to see what further measures you think is up their sleeves.
It could be
Extension of SSD from 4 years to 5 years? Become like HDB MOP?:banghead:
Increase SSD above 20%?
Ban 3rd home buying? (like China)
Ban foreigner buying?
Increase Buyer Stamp Duty to 5%?
Capital Gain Tax?
Please share your view.
Not advisable to do so here unless you want market to "crash/correct" so as to buy at cheaper price..:D :D
Not forgetting that there are many ppl reading this forum... Some of the measures were discussed and debated here and "conincidentally" happened to be implemented...:p
I think the government should study the impending external factors that will affect the economy such as food, oil, etc, before implementing more measures that will likely steer the economy into a dark period similar to last decade.
:) no more measures after erection, that is my take...:)
HDB price will be stable and pte property price will go up but transaction stable within this one or two years especially those areas with further development will be more in demand(managing risk)...my prediction...:)
think the answer will lie with hong kong and china, if they implement likely to see a mirror effect
think the answer will lie with hong kong and china, if they implement likely to see a mirror effectPersonally feel that there will be 1 more round soon, but minor fine tuning...
I believe many people are thinking the same:
:hell-hath-no-fury: IS THE GOVT GOING TO SPANK US ONE MORE TIME?:hell-hath-no-fury:
......
Please share your view.
btw, are you reporter? :rolleyes:
maybe those analysts, MPs, mimisters, developers, agents are here all the time to collect feedback...sometime when the discussion just happens here and u see news paper reporting similar topics a few days later...:rolleyes:
Condo Kaiser
24-02-11, 13:55
think the answer will lie with hong kong and china, if they implement likely to see a mirror effect
Be hard to compare with HK and China since background very different.
And if we are anywhere close to what those 2 countries are doing then market would have crashed in Singapore.
HK and China now ban further purchases for existing property owners and in China even first time buyer need to produce 5 years if tax document in the city they are buying to justify. Not to mention 50% LTV, addition taxes etc.
Singapore gvt already quite give face. Haha.
Btw China just announced new measures last week right? Don't think our gvt plan to follow suit.
Condo Kaiser
24-02-11, 13:58
maybe those analysts, MPs, mimisters, developers, agents are here all the time to collect feedback...sometime when the discussion just happens here and u see news paper reporting similar topics a few days later...:rolleyes:
Agents frequent this forum i can understand. But I really doubt Property Analysts/MPs/Developers/MINISTERS:scared-1: will have the time to visit forum like this.
Haha. Do we really think opinions here will have a slightest amount of impact on policy making?
If so, let's start a topic on reducing income tax to 5% flat rate. Or COE premium capped at 20,000... Think if we talk about it long enough, it will surely happen.
:sleep: :sleep: :sleep: :sleep:
maybe those analysts, MPs, mimisters, developers, agents are here all the time to collect feedback...sometime when the discussion just happens here and u see news paper reporting similar topics a few days later...:rolleyes:
See those remarks in D'Leedon thread? After some discussion and debate about the "organic" thingy, CL make some changes in marketing leh days later... So "co-incident" meh?:rolleyes:
Facts of tis forum:
Threads: 6,898, Posts: 128,832, Members: 16,303
Believe it may be the single forum with regards to property that has the largest number of registered members in Singapore.....
Facts of tis forum:
Threads: 6,898, Posts: 128,832, Members: 16,303
Believe it may be the single forum with regards to property that has the largest number of registered members in Singapore.....
I noticed too many coincidences liao...seriously...after lurking around for sometime...if anyone want to know the thinking of 10 percent plus pte pty owners in singapore...where can u conveniently go except here to get the feedback??
Agents frequent this forum i can understand. But I really doubt Property Analysts/MPs/Developers/MINISTERS:scared-1: will have the time to visit forum like this.
Haha. Do we really think opinions here will have a slightest amount of impact on policy making?
If so, let's start a topic on reducing income tax to 5% flat rate. Or COE premium capped at 20,000... Think if we talk about it long enough, it will surely happen.
:sleep: :sleep: :sleep: :sleep:
it is time to wake up, this is singapore condo forum not hardware.com...talk about pte property...;)
Condo Kaiser
24-02-11, 14:13
16k members is quite a lot.
I'm also quite sure opposition party gets more than 16k votes every election too, don't think that has made any difference in the outcome.
All I'm saying is that policy making (especially national policy and not just some company's small marketing tweaks) are done over a long time of deliberation. Which is why most times policies are lagging market movements, especially in a fast changing market condition.
It's near impossible for policy makers to get it right the first time, by the time they collected all the data it is already 1 month late, need 1 month to analyse the data to make sense of it all ( and i'm talking a maountain of data, not just your simplistic URA home price index ) after all the analysis is done, they need to make projections and think of policies to counter any deficiencies in the economy/market/goverment.
Singapore govt has so far always done a reasonably good job in terms of pre-emptive measures. But time lag none the less.
Agents frequent this forum i can understand. But I really doubt Property Analysts/MPs/Developers/MINISTERS:scared-1: will have the time to visit forum like this.
Haha. Do we really think opinions here will have a slightest amount of impact on policy making?
If so, let's start a topic on reducing income tax to 5% flat rate. Or COE premium capped at 20,000... Think if we talk about it long enough, it will surely happen.
:sleep: :sleep: :sleep: :sleep:
Let do it manz...what are we waiting for...:D :D :D
just open the thread(like this one)..u got many owners (or to be)owners throwing views at you...but I think those who read must have an open mind to know what is actually happening, the info provided maybe treated as a complement or reinforcement to what u may or maynot already aware...:)
are these 10 percent plus population view worth listering to In singapore?:)
dun under-estimate the power of computers
the services available to all now is to comb all the internet forums and pages to extract the "relevant" talks...and this is happening....
I know what are the web sites being comb...
with broadband connection, it is also not difficult to pin down ur IP.
Too early to say if the measures worked.... give it more time. It's only been a month....:) before we get another "spanking"
If all else fails... implement COE for buying property... there're different categories... below 1600sq ft, above 1600sq ft and open category... :banghead:
If that doesn't work, implement ERP, erect gantries around CCR, RCR and OCR. Pay extra stamp duty for each region. Garment can control prices in each region separately.:banghead:
Learn from LTA.... sure work one:D
my take is still the same..80% plus housing concern already addressed...good enough...10 plus pecent let it run but in a controlled manner(price up but transaction vol stable)...:D
every segment happy and popularity of P+P rating up...
HDB measures inadequate, and i'm not talking about building more flats
GE coming so they may not want to upset the majority HDB owners who are too caught up with their HDB flat value... maybe after GE
HDB measures inadequate, and i'm not talking about building more flats
GE coming so they may not want to upset the majority HDB owners who are too caught up with their HDB flat value... maybe after GE
if that is true...what happen is policy may target at HDB, if HDB pricing soften further, no need policy to rein in pte pty price liao...as in some aspects, both pricing TREND are related to each other(for eg upgradingto pte become tougher...):)
personally, no more measures needed to cool HDB flats for now before election, but measures needed to fine tune private so that HDB dwellers will go into polls feeling better that government has take ACTION to at least give them some hope to upgrade to private and that prices has not run up until they give up hope...
personally, no more measures needed to cool HDB flats for now before election, but measures needed to fine tune private so that HDB dwellers will go into polls feeling better that government has take ACTION to at least give them some hope to upgrade to private and that prices has not run up until they give up hope...
wow if like that, those own pte pty one will be further agitated ...same as other parties like developers, bankers etc...i think it is good to TRY to strike a balance especially with current policies which have stablise the transactions hopefully and also recent advocation from MBT to buyers to hold horse..these two may have significant impact on pte pty sales vol...:)
proud owner
24-02-11, 15:49
my take :
HDB valuation will be the next target ...
no more such thing as neighbour ( renovated) sold at 300k (250 + 50 cov)
then the next unit ( original ) will be 300k valuation
the next measure will target to have a proper valuation ...indirectly impacting COV ...
Today CDL's Kwek just said this yr's pty price will drop 3-5%, so MBT can tell everyone his measures are finally working. :cool:
no need HDB specific measures. Ppl are happy HDB price is high. With pte pty price "to fall", more will feel happy as they can now upgrade easily
proud owner
24-02-11, 16:27
Today CDL's Kwek just said this yr's pty price will drop 3-5%, so MBT can tell everyone his measures are finally working. :cool:
no need HDB specific measures. Ppl are happy HDB price is high. With pte pty price "to fall", more will feel happy as they can now upgrade easily
they can upgrade now still ... no need further measures ..
in any case they also upgrade to nearby 99LH condos ... or MM units
with or without measures they can well afford these now
Condo Kaiser
24-02-11, 16:39
my take :
HDB valuation will be the next target ...
no more such thing as neighbour ( renovated) sold at 300k (250 + 50 cov)
then the next unit ( original ) will be 300k valuation
the next measure will target to have a proper valuation ...indirectly impacting COV ...
Totally agree, valuation methods in Singapore is so primative. For HDB people only look at COV but that is such a simplistic approach to property purchase. Designed by HDB years ago to "hood-wink" innocent and un-educated population.
Same for pte property, I can't recall how many times have a heard agents telling me "Sir, bank valuation is X Million, owner only looking to sell at valuation. Last transacted is 2xxx psf, this 199x psf is best deal in the market" But what they fail to mention is bank valuation can be as much as 300k different between 2 banks, especially for smaller units. All depend on which valuer need bread on table more. And 2xxx psf was achieved on a unit 20 floors above and 4 months ago before all the cooling measures.
We need to have a more transparent valuation methods that will stabilise the property market much more than cooling measures can ever achieve.
Totally agree, valuation methods in Singapore is so primative. For HDB people only look at COV but that is such a simplistic approach to property purchase. Designed by HDB years ago to "hood-wink" innocent and un-educated population.
Not just property valuation; look at the Fallen Talent and Car ownership policies. All these bore the same signature of employing quick-solving cum open-the-floodgates methodologies which are basically; brainless. I can't sense any ingenuity at all. When the country is running short of numbers in population; the system created an express lane for PR applications. When the number of roads being built seems capable to absorb the growing population of cars, the system releases COEs at lelong rate. And now when we talked about property valuation; seriously do we still need VALUATORS at all when there is such a no brainer way to determine the figures??
devilplate
24-02-11, 17:51
Totally agree, valuation methods in Singapore is so primative. For HDB people only look at COV but that is such a simplistic approach to property purchase. Designed by HDB years ago to "hood-wink" innocent and un-educated population.
Same for pte property, I can't recall how many times have a heard agents telling me "Sir, bank valuation is X Million, owner only looking to sell at valuation. Last transacted is 2xxx psf, this 199x psf is best deal in the market" But what they fail to mention is bank valuation can be as much as 300k different between 2 banks, especially for smaller units. All depend on which valuer need bread on table more. And 2xxx psf was achieved on a unit 20 floors above and 4 months ago before all the cooling measures.
We need to have a more transparent valuation methods that will stabilise the property market much more than cooling measures can ever achieve.
bankers only give FOC bank indication to agts or buyers....
if u really want a professional and more accurate valuation....u goto pay for it....few hundred buck....who gona pay for it? make it compulsory for pte ppty sellers? not a gd idea.....y listen to agts toking abt valuation etc....check latest caveats and derive ur own valuation from there:cheers6:
devilplate
24-02-11, 17:52
Not just property valuation; look at the Fallen Talent and Car ownership policies. All these bore the same signature of employing quick-solving cum open-the-floodgates methodologies which are basically; brainless. I can't sense any ingenuity at all. When the country is running short of numbers in population; the system created an express lane for PR applications. When the number of roads being built seems capable to absorb the growing population of cars, the system releases COEs at lelong rate. And now when we talked about property valuation; seriously do we still need VALUATORS at all when there is such a no brainer way to determine the figures??
i tink we still nid valuers for landed ppty.....landed vy tricky.....:2cents:
You missed the word "mass market" from:
"The new rules are likely to push down mass market property prices in the city-state by 3%-5% and moderate volumes this year, Kwek said at a news conference." :p
Today CDL's Kwek just said this yr's pty price will drop 3-5%, so MBT can tell everyone his measures are finally working. :cool:
no need HDB specific measures. Ppl are happy HDB price is high. With pte pty price "to fall", more will feel happy as they can now upgrade easily
DJ UPDATE: City Developments 4Q Net Up 41%; To Raise South Beach Stake
24 Feb 2011 19:45
By Chun Han Wong
Of DOW JONES NEWSWIRES
SINGAPORE (Dow Jones)--Singapore's second-largest listed property developer City Developments Ltd. (C09.SG) Thursday announced a 41% rise in fourth-quarter net profit and sounded a cautiously upbeat note about its prospects despite government attempts to cool the local property sector.
City Developments Executive Chairman Kwek Leng Beng said he expects the group to remain profitable in 2011, downplaying concerns that Singapore's property market might be severely hurt by the recent cooling measures.
"The government's proactive approach (in managing the property sector) has ensured that Singapore remains highly sought-after as an ideal place for investments, and fluctuations in property transaction volumes are likely to be temporary and are inevitable," Kwek said in a statement.
Singapore's economy grew at a record 14.5% in 2010, but worries of possible asset price bubbles prompted the government in January to take measures such as making individual buyers with outstanding loans on one or more properties stump up more cash, increasing the holding period for the imposition of seller's stamp duty to four years from three years, and raising the rate of duty for homes sold at various stages during this holding period.
The new rules are likely to push down mass market property prices in the city-state by 3%-5% and moderate volumes this year, Kwek said at a news conference.
"This time the measures they've introduced are more effective than before," he said, noting that residential volumes have started falling and an easing of prices may follow. "If there's a temporary slowdown, so be it. We have to accept the fact that the real estate business is cyclical in nature."
The strength of the local property sector in 2010 was reflected in the company's fourth quarter performance.
Net profit for the three months ended Dec. 31 was S$249.2 million, up from S$176.7 million a year earlier due to one-time gains mostly from property divestments. The result beat the average S$217.4 million estimate of five analysts polled by Dow Jones Newswires.
The rise in the group's net profit came mostly from its other operating income, which was $218.5 million--up from S$2.2 million a year earlier--mainly from sales of certain non-core commercial and industrial properties and management fees.
Revenue was S$691 million, down 25.1% from S$922.4 million a year earlier.
my take :
HDB valuation will be the next target ...
no more such thing as neighbour ( renovated) sold at 300k (250 + 50 cov)
then the next unit ( original ) will be 300k valuation
the next measure will target to have a proper valuation ...indirectly impacting COV ...
spot on....:)
didn't one owner of a property consulting firm commented that next measures should target valuers and a few days later. the body of valuers rebut him?
phantom_opera
25-02-11, 10:35
Aiyoyo, the situation here is not as hot as China, China also never mess around with valuation.
Next one is for government to increase LTV for 2nd loan to 50%, LTV for 3rd loan to 40% .... restrict buying 4th property ... they are so many things practical ... why mess with valuation?
Hong Kong government is now looking at TIPS (Treasury Inflation Protected Securities), at least they are looking at the root cause of low interest rate high inflation, treat the root cause, not the symptom.
Regulators
25-02-11, 10:36
If government do something to effectively lower valuations, then people will just go back to ask for higher cov, wouldn't that be square one?
didn't one owner of a property consulting firm commented that next measures should target valuers and a few days later. the body of valuers rebut him?
If government do something to effectively lower valuations, then people will just go back to ask for higher cov, wouldn't that be square one?
well, if banks can lend up LTV80%. If COV, they won't lend. So won't that limit the price hike? How many people can afford $100k COV + 20% downpayment?
Condo Kaiser
25-02-11, 13:15
Yeah, too many uneducated buyers in singapore has this mentality that "aiya, as long as borrow from bank can approve, only give 10k COV... can manage la... borrow 30 years mah."
This is such a wrong way to evaluate a property pruchase decision.
Thus my previous point about valuation. Banks should stop give liberal valuations for pte proprerty just to secure the lender's signature. My own experience is no matter the asking price, sure can find a bank who's willing to match in terms of valuation.
Valuation should only be on the actual value of land/unit in question and take away the component of current sentiment. Because sentiment is something that command a premium or discount, should be part of COV.
http://hk.centanet.com/icms/attachmentDownload.aspx?download/281-32409-25819/110125CCL.JPG
The latest cooling measure by HK govt is land sale...
limited impact
Aiyoyo, the situation here is not as hot as China, China also never mess around with valuation.
Next one is for government to increase LTV for 2nd loan to 50%, LTV for 3rd loan to 40% .... restrict buying 4th property ... they are so many things practical ... why mess with valuation?
Hong Kong government is now looking at TIPS (Treasury Inflation Protected Securities), at least they are looking at the root cause of low interest rate high inflation, treat the root cause, not the symptom.
............and another 5% cash deposit more for each additional loan..........
Condo Kaiser
28-02-11, 02:28
Everyone seem to have their view on what are the possibilties that lie ahead.
Judging from the aggressive land bidding by developers in recent days, is it safe to say that we are heading dangerously close to another round of measure?
Or are we of the opinion that Mr Kwek's interview and comments will be enough to hold back the govt?
Next point to consider is:
If govt introduce further measures, who will suffer most? HDB Upgraders? OCR/RCR/CCR? Or will there be any brave souls out there who feels prices are to escalate further even with one more round of measure?
Please share your views.
My disclaimer:
Not a report/minister/agent/banker/police or anyone who makes a difference:spliff: so stop asking me.
Own OCR/CCR/HDB properties so not trying to talk down prices of any particular area.
.....
Judging from the aggressive land bidding by developers in recent days, is it safe to say that we are heading dangerously close to another round of measure?
Or are we of the opinion that Mr Kwek's interview and comments will be enough to hold back the govt?
.........
Since when does action speaks softer than words?
Won't it be easier if MBT call up the developers for tea, telling them "in essence, you can bid high high, but launch after election please".
or tell BCA to approve of their plans after election.
just like MrWong KS may have tell immigration not to let so many convert to PRs.
Condo Kaiser
28-02-11, 09:17
If that was the case then they should have postpone the bidding till after election as well. What's the hurry?
Since when does action speaks softer than words?
Won't it be easier if MBT call up the developers for tea, telling them "in essence, you can bid high high, but launch after election please".
or tell BCA to approve of their plans after election.
just like MrWong KS may have tell immigration not to let so many convert to PRs.
do govt really care abt high bidding price?? i doubt so, if they really concern they can award the land to the 2nd bidder right. but looking at so much extra money going into their pocket, WHO CARE!!! govt's view is i already WARN you (i have done my job) not to over-commit. if u want to be a fool to buy high tats yr problem
If that was the case then they should have postpone the bidding till after election as well. What's the hurry?
well, high bid price doesnt translate to high launch price straightaway.
so government get money in pocket first. then after election, developer can sell high launch price.
devilplate
28-02-11, 10:08
well, high bid price doesnt translate to high launch price straightaway.
so government get money in pocket first. then after election, developer can sell high launch price.
ur buyer exercised?
ur buyer exercised?
not yet. deadline not over yet. keeping my fingers crossed.
but sellers remorse now.
1) SOR drop so low, so probably can hold out longer.
2) don't know what to do with the money.
I wishy washy.:ashamed1:
devilplate
28-02-11, 10:37
not yet. deadline not over yet. keeping my fingers crossed.
but sellers remorse now.
1) SOR drop so low, so probably can hold out longer.
2) don't know what to do with the money.
I wishy washy.:ashamed1:
aiya....was about to ask u whether if u feel seller remorse anot....:p
but since u r merely delevarging....u r ok if market go either way:cheers6:
Allowing developers to bid high then blaming us buyers for buying at high prices is so damn unfair... Then penalize us with harsh measures and drive down the prices when developers finished selling the projects....
Then we condo owners left to carry the burden of negative equity... I and really quite pissed.... I really agree wit earlier post that an open auction might be better...
devilplate
28-02-11, 10:56
Allowing developers to bid high then blaming us buyers for buying at high prices is so damn unfair... Then penalize us with harsh measures and drive down the prices when developers finished selling the projects....
Then we condo owners left to carry the burden of negative equity... I and really quite pissed.... I really agree wit earlier post that an open auction might be better...
duno leh...i haf the feeling tat open auction may even trigger a higher land price:scared-3:
just look at HK....
Condo Kaiser
28-02-11, 10:59
But govt didn't force anyone to buy wor.
Developer all launch high price doesn't mean we need to buy at high price mah.
If no one buy then developer also cannot sell high price.
This is a game of cat and mouse, do you want to catch or be caught?
Govt is just providing a laying ground for the cats and mice, we pay a fee (land cost/taxes) to get to play in this play ground.
devilplate
28-02-11, 11:01
But govt didn't force anyone to buy wor.
Developer all launch high price doesn't mean we need to buy at high price mah.
If no one buy then developer also cannot sell high price.
This is a game of cat and mouse, do you want to catch or be caught?
Govt is just providing a laying ground for the cats and mice, we pay a fee (land cost/taxes) to get to play in this play ground.
2nd tat...cool;)
But govt didn't force anyone to buy wor.
Developer all launch high price doesn't mean we need to buy at high price mah.
If no one buy then developer also cannot sell high price.
This is a game of cat and mouse, do you want to catch or be caught?
Govt is just providing a laying ground for the cats and mice, we pay a fee (land cost/taxes) to get to play in this play ground.
We are just pawns in the game.... The whole market is kinda monopolized... Price drop, developer don't launch and wait... Then slowly recognize the profit that they have made in the past years.... Wait out the down cycle, then bid low low for land... And when sentiments up... Sell High....
Sigh... What can we do? I think the best is buy resale... A lot of good value.... Don't understand Singaporean mentally with new condo, pay 40% premium for new....
Condo Kaiser
28-02-11, 11:43
Totally agree... Resale has so much more value. Both in CCR and OCR.
Play with developer is play with fire. But if in a period of sustained low growth and low apetite, developer also have to sell cheaper la, then can consider.
We are just pawns in the game.... The whole market is kinda monopolized... Price drop, developer don't launch and wait... Then slowly recognize the profit that they have made in the past years.... Wait out the down cycle, then bid low low for land... And when sentiments up... Sell High....
Sigh... What can we do? I think the best is buy resale... A lot of good value.... Don't understand Singaporean mentally with new condo, pay 40% premium for new....
when property market flat for long time, developers also no choice but to launch.
forgot about 2003-2005 already?
Totally agree... Resale has so much more value. Both in CCR and OCR.
Play with developer is play with fire. But if in a period of sustained low growth and low apetite, developer also have to sell cheaper la, then can consider.
resale plus $100psf can do wonders, but singaporeans like everything to be new.
Gahmen's job is not make sure you (citizen, maybe PR as well) get your dream home (the story of BTOs in the middle of no where) but to ensure you have a roof over your head and they already have a tool called HDB.
If you analyze the cooling measures. The main aim is mainly to ensure that you (citizen, maybe PR as well) do not over leverage and get into trouble. There are two ways you can look at why they do this:
1. Gahmen is responsbile and really concern about your welfare etc...
2. Gahmen wants to run an efficient economy and would not want to commit any resources to bail you out if you over leverage and loose your house.
You can apply the same reasoning to most of our gahmen policies that has to do with socio-economic-welfare issues: CPF, Medisave,housing, IR ...
So if any further cooling measures were to come, it will be targeted at the segment which has the highest number and would be most affected: i.e the middle income group.
The rich can fend for their own, foreigners gahmen don't care.
In my opinion, the latest measures have hit the nail right on the spot:
1. The additional 20% for 2nd loan is no joke for most middle income families.
- Kao Beh to Ah Gong cannot afford to buy 2nd/3rd home, Ah Gong will say you already have house ady don't need another one, family getting bigger nvm just squeeze a little, want to go to good school beh hiao kin any Ah Beng school also can because if grades good can always take test to go into Gifted program or after PSLE.
2. SSD of 16%: Weeded out the flippers who cannot hold -> majority also middle income speculators ??
So if this segment of society is not be affected adversely by housing prices (i would define this as long as one can still afford a place to stay - ulu BTO will do the trick, and don't over leverage), i don't think Gahmen will step in.
Those who can afford, and those who are not from S'pore can continue to push up prices, they just sit back, relax and collect the tax.
Totally agree... Resale has so much more value. Both in CCR and OCR.
Play with developer is play with fire. But if in a period of sustained low growth and low apetite, developer also have to sell cheaper la, then can consider.
Yes they will sell cheaper than now... But compared to resale prices still same gap... 40% and above higher.... So resale still better value.... I really don't understand why this fixation with new.... After a few years all the same old again....
I am currently staying in an old condo in CCR, no difference to me if life lobby upgraded, gym upgraded, pool upgraded.... All tennis court are the same and landscaping also easily rectified...
Ultimately it's location and facing plus how you do up your house internally....
Once you have a nice pool, good gym, ok lift lobby and lift.... Then ok liao no point paying more....
Then new condo beside mine is asking 50% more.... Right beside my condo and it's almost sold out..... I blur....
Condo Kaiser
28-02-11, 23:08
I also don't believe in new, unless the project offers something that is not seen in other projects. That sort of new I LIKE~~~
But just the same building with a newer paint and newer lift doesn't make me want to part with my money.
Save few hundred k can renovated nicely, buy a nice holidays, nice watch, etc... Yum....
Only time to buy new launch is in the beginning of a bull market, probably the interest rate is low, buy and sell for profit upon TOP of slightly before to people who want to buy "NEW" but don't want to wait.
I also don't believe in new, unless the project offers something that is not seen in other projects. That sort of new I LIKE~~~
But just the same building with a newer paint and newer lift doesn't make me want to part with my money.
Save few hundred k can renovated nicely, buy a nice holidays, nice watch, etc... Yum....
Only time to buy new launch is in the beginning of a bull market, probably the interest rate is low, buy and sell for profit upon TOP of slightly before to people who want to buy "NEW" but don't want to wait.
Yes totally agree..... Especially buy at the beginning of a bull market... Buy new then subsale lol
Powered by vBulletin® Version 4.2.2 Copyright © 2024 vBulletin Solutions, Inc. All rights reserved.