View Full Version : Will Singapore property market ever corrects?
I have been monitoring the market trend and price movement since last year. It seems that price has once again breaching all odds and heading north.
Despite numerous negative calls and sentiments from the globe, CM intervention from Singapore government, as well as other markets in the region the property market seems to be unaffected, and have had actually stood stronger each time to repel all odds against them.
In view of Sky Habitant high psf, I am wondering if Singapore property price index will ever corrects? In fact, I also start to realise the HDB BTO, DBSS, EC prices are somehow heading north, but at a subtle increment.
With that, I'd like to seek all views in this. Will Singapore market ever corrects or even crash as what some forumer hoping for?
Allthepies
15-04-12, 15:52
I have been monitoring the market trend and price movement since last year. It seems that price has once again breaching all odds and heading north.
Despite numerous negative calls and sentiments from the globe, CM intervention from Singapore government, as well as other markets in the region the property market seems to be unaffected, and have had actually stood stronger each time to repel all odds against them.
In view of Sky Habitant high psf, I am wondering if Singapore property price index will ever corrects? In fact, I also start to realise the HDB BTO, DBSS, EC prices are somehow heading north, but at a subtle increment.
With that, I'd like to seek all views in this. Will Singapore market ever corrects or even crash as what some forumer hoping for?
what i know is that it will never cheong again (based on government stance unless voters support them to change), at most grow very very slowly. so what's the point in investing in properties even if they crashes? properties r for staying nowadays.
If you look at the household credit build up, you should know the answer.
If you look at the household credit build up, you should know the answer.
Could you elaborate further? I do not understand the household credit building up definition/notion?
unlike the american and european, sporean & pr save a lot.
with that much of cash on hand, everyone is eager to invest in property
Could you elaborate further? I do not understand the household credit building up definition/notion?
unlike the american and european, sporean & pr save a lot. with that much of cash on hand, everyone is eager to invest in property.
Do Singaporean family has the capacity to save with high CPI and inflation nowadays?
PR do have the advantage though.
actually, sporean has the upper hand especially who had sold their flat to pr with high cov and huge sum in cpf oa ... especially those move back to live with parent for 1-2 years and hoot another property
Do Singaporean family has the capacity to save with high CPI and inflation nowadays?
PR do have the advantage though.
Do Singaporean family has the capacity to save with high CPI and inflation nowadays?
PR do have the advantage though.
You will be surprised how cash rich sporeans are. Alot I know have ready cash of more than 200-300k waiting by sidelines. All youngsters below 35 somemore.
You will be surprised how cash rich sporeans are. Alot I know have ready cash of more than 200-300k waiting by sidelines. All youngsters below 35 somemore.
I am surprise now. Do they own anything property now?
Never plays with own home. Not fair to parents and family and definitely not worth it.
actually, sporean has the upper hand especially who had sold their flat to pr with high cov and huge sum in cpf oa ... especially those move back to live with parent for 1-2 years and hoot another property
This is the million dollar question that was asked at peak of every property cycle. Those who didn't believe price would correct are no longer here to answer this question.:D
I have been monitoring the market trend and price movement since last year. It seems that price has once again breaching all odds and heading north.
Despite numerous negative calls and sentiments from the globe, CM intervention from Singapore government, as well as other markets in the region the property market seems to be unaffected, and have had actually stood stronger each time to repel all odds against them.
In view of Sky Habitant high psf, I am wondering if Singapore property price index will ever corrects? In fact, I also start to realise the HDB BTO, DBSS, EC prices are somehow heading north, but at a subtle increment.
With that, I'd like to seek all views in this. Will Singapore market ever corrects or even crash as what some forumer hoping for?
http://3.bp.blogspot.com/-oImOq8a-6e8/T4qKL92dJ1I/AAAAAAAAHO0/jyk57XIFWY4/s1600/Household+Net+wealth.JPG
http://www.singstat.gov.sg/pubn/reference/sif2011.pdf
Don't understand, with so many buy buy buy, why only increase by 9 billion.
Mortgage Loans 118,308.5 130,173.2 139,990.9
ikan bilis
15-04-12, 16:59
http://3.bp.blogspot.com/-oImOq8a-6e8/T4qKL92dJ1I/AAAAAAAAHO0/jyk57XIFWY4/s1600/Household+Net+wealth.JPG
http://www.singstat.gov.sg/pubn/reference/sif2011.pdf
Don't understand, with so many buy buy buy, why only increase by 9 billion.
Mortgage Loans 118,308.5 130,173.2 139,990.9
me surprise to see the liabilities so low, ~15% of assets value... quite hard for me to believe... :scared-4:
Do Singaporean family has the capacity to save with high CPI and inflation nowadays?
PR do have the advantage though.
As long as they did not over commit on property and luxury items.
http://3.bp.blogspot.com/-2Rj8soDBXYk/T4qOP0QtmOI/AAAAAAAAHO8/qCICrz-hZ0I/s1600/Household+Net+wealth+breakdown.JPG
I have been monitoring the market trend and price movement since last year. It seems that price has once again breaching all odds and heading north.
Despite numerous negative calls and sentiments from the globe, CM intervention from Singapore government, as well as other markets in the region the property market seems to be unaffected, and have had actually stood stronger each time to repel all odds against them.
In view of Sky Habitant high psf, I am wondering if Singapore property price index will ever corrects? In fact, I also start to realise the HDB BTO, DBSS, EC prices are somehow heading north, but at a subtle increment.
With that, I'd like to seek all views in this. Will Singapore market ever corrects or even crash as what some forumer hoping for?
I think if KBW is to give his view on your concern in his blog..it will become the most VIEW blog in Singapore within a day...:p
I think if KBW is to give his view on your concern in his blog..it will become the most VIEW blog in Singapore within a day...:p
Could you call/page Mr. KBW to start a blog addressing my concern?
TIA.
ikan bilis
15-04-12, 17:10
http://3.bp.blogspot.com/-2Rj8soDBXYk/T4qOP0QtmOI/AAAAAAAAHO8/qCICrz-hZ0I/s1600/Household+Net+wealth+breakdown.JPG
how to interpret ??... does that mean ??... arh... huat ah!!... household deposit/currecy about 700bil, HDB+Pte also about 700Bil... will not have crash... properties still got room to cheong ??... :D
http://www.straitstimes.com/Free/Story/STIStory_251697.html
S'pore now has 77,000 millionaires in June 26, 2008. If 1 millionaires bought one property then there should have 77 K Private property.
HA ha...I think he has a blog now, but not addressing yr recent highlighted concern as of today...:p :p Your english is good, maybe u could write to ST forum or TODAY as I think that alot of people are interested in the property price Correction part(I dont hope for crash though):p ..this may generate some response from various parties to comment on it...:p
We have 247,052 million getting super high interest in the bank in 2010. Wonder how long the money can stay in the bank with this super high interest rate.
There are 70000 landed properties in Singapore and that makes about 70000 millionaires.
http://www.straitstimes.com/Free/Story/STIStory_251697.html
S'pore now has 77,000 millionaires in June 26, 2008. If 1 millionaires bought one property then there should have 77 K Private property.
http://1.bp.blogspot.com/-ELqFd8GXz7Y/T4qUM9WyicI/AAAAAAAAHPE/MRdeBwls1mk/s1600/pc.JPG
http://www.singstat.gov.sg/pubn/reference/yos11/statsT-construction.pdf
We have 247,052 million getting super high interest in the bank in 2010. Wonder how long the money can stay in the bank with this super high interest rate.
How to tell that this amount is on the hands of how many household or individuals? top 5% or 10% or 20% or ??? interesting to know....
How to tell that this amount is on the hands of how many household or individuals? top 5% or 10% or 20% or ??? interesting to know....
The gov. know, that is why have CM1, CM2, CM3, CM4, CM5 and CM6 coming.....
The gov. know, that is why have CM1, CM2, CM3, CM4, CM5 and CM6 coming.....
True true..superficially hard to judge asset rich = cash rich, also hard to tell the mammoth cash that are in bank(as shown in the report readings) are evenly distributed as savings of those survey or is it belong to the cream of the crop (top 10%) only...:o
Hi Yowetan
If u observe the property cycles since 1996 u will be able to see that property cycles have ups n downs. No such thing as up all the way or vice versa.
Remember SARS period or even 911, somehow properties r cheap but nobody cheong leh?
Properties r very illiquid, when u buy also need some guts coz must have holding power when bad times come n negative equity happens.
End of the day, winners r those who buy n can hold or those who r patient to enter the right time.
Keyword for u n me is patience will pay off end of the day!
IMHO, will wait for the ample supply to kick in b4 taking the plunge, now not the right time to enter leh! As the saying goes, Buy when there is fear, sell when yr target is met!
If you look at the household credit build up, you should know the answer.
blowing the bubble bigbig :D:D:D
Wah lau yowetan, at least u have bought something from the govt, sure can make money, many ppl don't even have the chance ie the sandwich class.
Don't compare with other ppl so much la. Don't forget this is property forum, many of these gurus here already have money and properties. Want to compare with them, surely feel smaller. I don't think the more vocal people here represent the average sporean. So don't overly stress yourself la, although I understand how u feel, because I also feel it reading the stuff here haha.
Lastly, property will have to follow up and down cycles, due to macro factors, beyond the control of the govt. The most the govt can do, eg thru the CMs, is to limit the extremes so ppl don't die jialat jialat, banks don't close shop etc etc.
Since such cyclical opportunities are limited, best we can do is save and be ready to whack when we feel the timing is correct.
The problem is the "right" time to buy is always from a hindsight. :beats-me-man:
It will be a time when everybody including you have no interest in properties and owning one will be more of a liability than an asset. The economic environment will be very negative, STI plunge 5% daily, many companies winding up, job losses across board. Will you put all your hard earned savings into property during those times?
:scared-2:
In 2000, Private housing assets: 188,456M, private mortgage loans (classified under financial institutions): 43,137M.
Asset/Debt ratio: 188,456/43137 = 4.37
In 2010, Private housing assets: 383,243M, loans: 115,433M
Asset/Debt ratio: 383,243/115,433 = 3.32
So the holding power has dropped 4.37 to 3.32 (30% down!)
If we can get the 2012 figures, it will be even worse.
There are 70000 landed properties in Singapore and that makes about 70000 millionaires.
Cannot count like that. The millionaire status is minus house in which the person staying.
Good constructive and insightful views and opinions. Keep it coming in.
I have been monitoring the market trend and price movement since last year. It seems that price has once again breaching all odds and heading north.
Despite numerous negative calls and sentiments from the globe, CM intervention from Singapore government, as well as other markets in the region the property market seems to be unaffected, and have had actually stood stronger each time to repel all odds against them.
In view of Sky Habitant high psf, I am wondering if Singapore property price index will ever corrects? In fact, I also start to realise the HDB BTO, DBSS, EC prices are somehow heading north, but at a subtle increment.
With that, I'd like to seek all views in this. Will Singapore market ever corrects or even crash as what some forumer hoping for?
Very simple.
A vicious cycle of 2 bites of HDB cherries and then upgrade to private.
The cash profit is used for reno and CPF profit back into property, in return for bigger and longer mortgage loan.
Some enjoy due to right timing, but significant end up asset-rich-cash-poor.
Regards
Could you call/page Mr. KBW to start a blog addressing my concern?
TIA.
can you go post on his facebook instead? there was a video clip of him last year saying something to the effect that one must be stupid to buy then :doh:
well, prices have shot up since he said that...goes to show how much the developers respect him ;)
speculator
15-04-12, 20:08
We have 247,052 million getting super high interest in the bank in 2010. Wonder how long the money can stay in the bank with this super high interest rate.
And as of Feb 2012, (in Million Dollars)
161,794.2 in Fixed Deposits
155,055.0 in Saving Accts
There are so much liquidity in the market. It's no surprise there are a lot of people on the sideline with lots of cash on hand ready to buy on top of the huge group that are buying and buying :)
speculator
15-04-12, 20:11
The problem is the "right" time to buy is always from a hindsight. :beats-me-man:
It will be a time when everybody including you have no interest in properties and owning one will be more of a liability than an asset. The economic environment will be very negative, STI plunge 5% daily, many companies winding up, job losses across board. Will you put all your hard earned savings into property during those times?
:scared-2:
Well side. :cheers5:
thomastansb
15-04-12, 20:11
Property will only drop when there is an economy crisis. Since there is no crisis, obviously the price didn't drop.
Yes, it will definitely drop. But you have to wait for a crisis.
A crisis is when you see STI dropping 50% from 3500 to 1600.
I have been monitoring the market trend and price movement since last year. It seems that price has once again breaching all odds and heading north.
Despite numerous negative calls and sentiments from the globe, CM intervention from Singapore government, as well as other markets in the region the property market seems to be unaffected, and have had actually stood stronger each time to repel all odds against them.
In view of Sky Habitant high psf, I am wondering if Singapore property price index will ever corrects? In fact, I also start to realise the HDB BTO, DBSS, EC prices are somehow heading north, but at a subtle increment.
With that, I'd like to seek all views in this. Will Singapore market ever corrects or even crash as what some forumer hoping for?
can you go post on his facebook instead? there was a video clip of him last year saying something to the effect that one must be stupid to buy then :doh:
well, prices have shot up since he said that...goes to show how much the developers respect him ;)
I wish I have the "balls" to post on his blog. Besides, I wonder if he really read my enquiry if I ever did post in there.
Property will only drop when there is an economy crisis. Since there is no crisis, obviously the price didn't drop.
Yes, it will definitely drop. But you have to wait for a crisis.
A crisis is when you see STI dropping 50% from 3500 to 1600.
I will worry for my living hood and family if STI ever crash to 1600.
The problem is the "right" time to buy is always from a hindsight. :beats-me-man:
It will be a time when everybody including you have no interest in properties and owning one will be more of a liability than an asset. The economic environment will be very negative, STI plunge 5% daily, many companies winding up, job losses across board. Will you put all your hard earned savings into property during those times?
:scared-2:
Nope. I will put my money into stocks... Stocks will be the first to rise before property. I will than remove the money from stocks went it is up, and then dump into property.
The only thing you need to implement this is 1. Money, 2. Guts
I wish I have the "balls" to post on his blog. Besides, I wonder if he really read my enquiry if I ever did post in there.
i think its takes less balls to post on his blog an "innocent" question such as yours than to commit 30 years of your life to work for a 2nd employer (aka bank loan for your property)
i think its takes less balls to post on his blog an "innocent" question such as yours than to commit 30 years of your life to work for a 2nd employer (aka bank loan for your property)
I wish you are right; I reckon he is that "inclusive" enough to really see that as an innocent query.
speculator
15-04-12, 20:34
Property will only drop when there is an economy crisis. Since there is no crisis, obviously the price didn't drop.
Yes, it will definitely drop. But you have to wait for a crisis.
A crisis is when you see STI dropping 50% from 3500 to 1600.
:cheers5: completely agree. If you see STI at 1600, go shopping for properties. If you've been waiting for a crash, then buy a few if you've the guts and money to do it.
Many people talk about it, when it really happens not many has the guts to see this through
I am surprise now. Do they own anything property now?
Yes, but only hdb.
Yes, but only hdb.
Is the property (HDB) fully paid for, or still servicing the loan?
Nope. I will put my money into stocks... Stocks will be the first to rise before property. I will than remove the money from stocks went it is up, and then dump into property.
The only thing you need to implement this is 1. Money, 2. Guts
Unfortunately, the problem with this approach is by the time STI rises to a certain height property prices are no longer cheap though they still may have some way to go depending on which property segment! Its not an easy call. So far, however, I have found FREEHOLD/999 LEASEHOLD LANDED is still the best bet for this approach.:D
Is the property (HDB) fully paid for, or still servicing the loan?
Alamak how would I know?:doh:
There are 70000 landed properties in Singapore and that makes about 70000 millionaires.Not all 70 000 lander property owners have paid up total for their properties... some still owe bank > $1mil so they may only have < $1mil. :eek:
Alamak how would I know?:doh:
Ok, noted with thanks.
Let the discussion elaborate and expand further to benefit all stakeholders.
I will worry for my living hood and family if STI ever crash to 1600.
Relax, life will still go on. Worry too many things you will never move forward.
I will worry for my living hood and family if STI ever crash to 1600.If STI crash below 1600, not only will you worry... many others will too... stop thinking of things which are not there!
Are u going to worry about lift break down everytime you step into a lift. The possibility is simply too small to stir any concerns. Is not taking the lift the way to address your worry?
Are u going to worry about meeting with a car accident when you are driving your car? Is not driving the way to address your worry?
regency321
15-04-12, 22:00
I am surprise now. Do they own anything property now?
I'm one of those waiting on the sidelines to buy.
I'm 34 this year, and my 5rm in the west is almost paid up, waiting for end of this year to redeem with OA and top up about 30k cash. Bought cheaper in 2006 (resale) when the market wasn't hot yet. Saw your post in another thread that you have outstanding 460k loan....did you buy recently and in a central area?
Together my wife and myself have around 300k cash savings, which we are looking to purchase a low end condo (less than a million) and hold on to our HDB for rental. Car is fully paid up (4.5 yrs old car). Expecting our 3rd kid next month, so hoping to get a private property to let our kids stay in better environment.
So same boat as you, waiting for prices to correct...
:cheers4:
I'm one of those waiting on the sidelines to buy.
I'm 34 this year, and my 5rm in the west is almost paid up, waiting for end of this year to redeem with OA and top up about 30k cash. Bought cheaper in 2006 (resale) when the market wasn't hot yet. Saw your post in another thread that you have outstanding 460k loan....did you buy recently and in a central area?
Together my wife and myself have around 300k cash savings, which we are looking to purchase a low end condo (less than a million) and hold on to our HDB for rental. Car is fully paid up (4.5 yrs old car). Expecting our 3rd kid next month, so hoping to get a private property to let our kids stay in better environment.
So same boat as you, waiting for prices to correct...
:cheers4:
My sense is price of new launch is going up, unless you are referring to resales. Even Flo at ulu part of Punggol is going for $850 psf...
I'm one of those waiting on the sidelines to buy.
I'm 34 this year, and my 5rm in the west is almost paid up, waiting for end of this year to redeem with OA and top up about 30k cash. Bought cheaper in 2006 (resale) when the market wasn't hot yet. Saw your post in another thread that you have outstanding 460k loan....did you buy recently and in a central area?
Together my wife and myself have around 300k cash savings, which we are looking to purchase a low end condo (less than a million) and hold on to our HDB for rental. Car is fully paid up (4.5 yrs old car). Expecting our 3rd kid next month, so hoping to get a private property to let our kids stay in better environment.
So same boat as you, waiting for prices to correct...
:cheers4:Congrats on your 3rd kid... at 34 yo with 3 kids.. well done. Again, if property prices corrects (unlikely it'll crash), a 3 bedder will be around $1mil in ulu places. Anything smaller than that will not suit your family... Impressive on your household cash saving... after deducting for HDB payup, you will have enough to pay for 20% downpayment plus excess for renovation... good work. Just hope govt don't introduce CM6 which may well disqualify many like you and I from purchasing our PC... :scared-3:
Huat Ah :cheers4: :cheers4: :cheers4:
SINGAPORE: CapitaLand said it has received strong interest for its suburban condominium project, Sky Habitat.
As of 6pm on Sunday, it sold 70 per cent of the 180 units launched for sale this weekend.
The developer said eight in 10 buyers are Singaporeans.
Eighty-one per cent of units sold were two- and three-bedroom units.
Said to be the most expensive suburban condominium here, the development in Bishan Central is going for S$1,642 psf for a four-bedroom unit to S$1,747 psf for a one-room unit.
A three-bedroom room apartment will cost about S$2 million.
regency321
15-04-12, 22:35
My sense is price of new launch is going up, unless you are referring to resales. Even Flo at ulu part of Punggol is going for $850 psf...
Ya, I'm looking at resale, not new launch.
speculator
15-04-12, 22:49
Together my wife and myself have around 300k cash savings, which we are looking to purchase a low end condo (less than a million) and hold on to our HDB for rental. Car is fully paid up (4.5 yrs old car). Expecting our 3rd kid next month, so hoping to get a private property to let our kids stay in better environment.
So same boat as you, waiting for prices to correct...
:cheers4:
You won't be lonely. There are many others with few hundred k in cash waiting too
regency321
15-04-12, 22:54
You won't be lonely. There are many others with few hundred k in cash waiting too
Yes I know. mine is really peanut compared to some others. I have a number of older colleagues, some already with one or two condos (staying in HDB and collecting rent from condo), and they are all just waiting. They are holding cash of 1 million or more. These are the smart ones who reaped the fruits of their hard work from the last 20 -30 years, I am waiting for the cue to enter the market. Likely to be end of this year, I hope.
if there are many ppl with a few hundred k on the side line, do you think it will drop much? drop a bit only ppl go in to support...
anyway if you buy to stay, it is ok as your horizon is on a longer time frame. imagine when the price drop a lot, do you still dare to buy then?? you will be worry whether you still have a job tmr and so better keep more cash. when the price go up, you think it might not be time yet...so no need to buy liao :o
speculator
15-04-12, 23:09
if there are many ppl with a few hundred k on the side line, do you think it will drop much? drop a bit only ppl go in to support...
anyway if you buy to stay, it is ok as your horizon is on a longer time frame. imagine when the price drop a lot, do you still dare to buy then?? you will be worry whether you still have a job tmr and so better keep more cash. when the price go up, you think it might not be time yet...so no need to buy liao :o
And as of Feb 2012, (in Million Dollars)
161,794.2 in Fixed Deposits
155,055.0 in Saving Accts
This hasn't even included bonds, cash in finance co. (non bank)
This figure is even higher than those in 2010.
There are so much liquidity in the market. It's no surprise there are a lot of people on the sideline with lots of cash on hand ready to buy
regency321
15-04-12, 23:19
if there are many ppl with a few hundred k on the side line, do you think it will drop much? drop a bit only ppl go in to support...
anyway if you buy to stay, it is ok as your horizon is on a longer time frame. imagine when the price drop a lot, do you still dare to buy then?? you will be worry whether you still have a job tmr and so better keep more cash. when the price go up, you think it might not be time yet...so no need to buy liao :o
ya price drop alot I sure buy. But from the looks of it, unlikely to have a huge drop so soon.
Job security is ok as I am holding perm job in public agency, as long as I don't do anything wrong should be quite safe.
Yes I know. mine is really peanut compared to some others. I have a number of older colleagues, some already with one or two condos (staying in HDB and collecting rent from condo), and they are all just waiting. They are holding cash of 1 million or more. These are the smart ones who reaped the fruits of their hard work from the last 20 -30 years, I am waiting for the cue to enter the market. Likely to be end of this year, I hope.
At least a dozen of my friends n I are waiting too. 500k dp anytime but the tricky part is this. If property price creep up slowly over the next 2 yrs before a 20% correction, the OCR may cost 1100psf n 20% correction brings it back to 900psf.
A price we see last year. It will never be the 500-600psf we see 3-4 yrs ago. Buy now or wait ur choice??? Hahaha
ya price drop alot I sure buy. But from the looks of it, unlikely to have a huge drop so soon.
Job security is ok as I am holding perm job in public agency, as long as I don't do anything wrong should be quite safe.
Try upper bukit timah....my friend jus bought a unit at 930k FH decent size. Another friendsold his unit at also upper bukit timah at 1.1m also FH decent size
Yes I know. mine is really peanut compared to some others. I have a number of older colleagues, some already with one or two condos (staying in HDB and collecting rent from condo), and they are all just waiting. They are holding cash of 1 million or more. These are the smart ones who reaped the fruits of their hard work from the last 20 -30 years, I am waiting for the cue to enter the market. Likely to be end of this year, I hope.
wow 1M+ cash and they are still waiting...so who are those who had been rushing to buy the past few months? those with only 100-200K cash? :beats-me-man:
wow 1M+ cash and they are still waiting...so who are those who had been rushing to buy the past few months? those with only 100-200K cash? :beats-me-man:
those who made the 1m cash knows the cycles and the correct timing to enter..
those who rush to buy,perhaps joining the herd not to missed he boat as thoughts properties goes up forever..
just like in 2007.. pple can just flip the otp for profits, to buyers who see prices shooting up. must have also though that prices will be up forever..
and the best part are partly some property agents flipping otp papers to buyers, if they really think properties prices are forever up.. why bother to flip?? but should keep..
一种米养百种人。。
those who made the 1m cash knows the cycles and the correct timing to enter..
those who rush to buy,perhaps joining the herd not to missed he boat as thoughts properties goes up forever..
just like in 2007.. pple can just flip the otp for profits, to buyers who see prices shooting up. must have also though that prices will be up forever..
and the best part are partly some property agents flipping otp papers to buyers, if they really think properties prices are forever up.. why bother to flip?? but should keep..
一种米养百种人。。
People who started property 20-30 years ago, ie. in the 80s or early 90s, anything they bought then will turn to "gold" dont need to catch the cycle lah.
To make money in property is like buying bluechip, it is all about holding power and collect dividend, not trying to predict the future or think you can time the rise and fall
I'm one of those waiting on the sidelines to buy.
I'm 34 this year, and my 5rm in the west is almost paid up, waiting for end of this year to redeem with OA and top up about 30k cash. Bought cheaper in 2006 (resale) when the market wasn't hot yet. Saw your post in another thread that you have outstanding 460k loan....did you buy recently and in a central area?
Together my wife and myself have around 300k cash savings, which we are looking to purchase a low end condo (less than a million) and hold on to our HDB for rental. Car is fully paid up (4.5 yrs old car). Expecting our 3rd kid next month, so hoping to get a private property to let our kids stay in better environment.
So same boat as you, waiting for prices to correct...
:cheers4:
You are in a better financial health status than me. I am 35 year old this year.
I have two infant kids, one is 11+ months old, the other is coming soon. I have a 4.5 year old car too, but still financing with outstanding loan of 30kSGD.
Our family saving is around 100kSGD (cash/shares) in total, and our HDB flat in Central West area has an outstanding bank loan of 460kSGD.
You are in a better financial health status than me. I am 35 year old this year.
I have two infant kids, one is 11+ months old, the other is coming soon. I have a 4.5 year old car too, but still financing with outstanding loan of 30kSGD.
Our family saving is around 100kSGD (cash/shares) in total, and our HDB flat in Central West area has an outstanding bank loan of 460kSGD.
Friend, dont touch first for your case...:o
regency321
16-04-12, 08:51
You are in a better financial health status than me. I am 35 year old this year.
I have two infant kids, one is 11+ months old, the other is coming soon. I have a 4.5 year old car too, but still financing with outstanding loan of 30kSGD.
Our family saving is around 100kSGD (cash/shares) in total, and our HDB flat in Central West area has an outstanding bank loan of 460kSGD.
Good luck bro. Let's wait a little bit more to see how things go. Do you intend to rent out your unit as well (additional rental income on top of your parents'), or is the private property meant for rental?
:cheers4:
You are in a better financial health status than me. I am 35 year old this year.
I have two infant kids, one is 11+ months old, the other is coming soon. I have a 4.5 year old car too, but still financing with outstanding loan of 30kSGD.
Our family saving is around 100kSGD (cash/shares) in total, and our HDB flat in Central West area has an outstanding bank loan of 460kSGD.
Don't underestimate the expenses for your kids....it is not a small sum.
phantom_opera
16-04-12, 09:01
You are in a better financial health status than me. I am 35 year old this year.
I have two infant kids, one is 11+ months old, the other is coming soon. I have a 4.5 year old car too, but still financing with outstanding loan of 30kSGD.
Our family saving is around 100kSGD (cash/shares) in total, and our HDB flat in Central West area has an outstanding bank loan of 460kSGD.
Your profile is a no-go even for MM in Geylang ... your liability is simply too high with too little cash at hand... I don't think the bank will lend anything above 600k to you even that you are supposed to have 10k family income per month ... your total debt is already half a million and insurance / kids / car are all liabilities right now, be prepared for at least 30k per kid for the preschool
i'm surprised no one talked about the pair of bungalows going at $91m :scared-1:
with all the talk about correction and predictions of doomsday, SH phase I sold 70% of launched units and these bungalows going at skyhigh prices.
i am pretty shocked that still got pple buy up the expensive GCB...
must be very good marketing at some foreign countries...
maybe it is some rich china dude.. :)
I heard more people are maxing out their DSR to take up home loans and tenure.
For argument sake, anyone consider investing high-yielding pty in US, Phuket, London, etc? Saw a mailer on Phuket recent launch where yield is 65% over 9 years. I didnt follow up as I not keen to over invest in pty.
I heard more people are maxing out their DSR to take up home loans and tenure.
For argument sake, anyone consider investing high-yielding pty in US, Phuket, London, etc? Saw a mailer on Phuket recent launch where yield is 65% over 9 years. I didnt follow up as I not keen to over invest in pty.
Can any one provide a rough guideline on how much housing loan I can get based on nett income per month. e.g. $5k per month of nett income and have no outstanding loan at all...seeing how much I can stretch...just want to prep.
Don't underestimate the expenses for your kids....it is not a small sum.So must buy insurance for children man... one hospital stay can set you back by a few grands... :mad:
Can any one provide a rough guideline on how much housing loan I can get based on nett income per month. e.g. $5k per month of nett income and have no outstanding loan at all...seeing how much I can stretch...just want to prep. having you been preparing since 2010? the date u joined the forum? now is not good time, prepare some more until property crash a few years later down the road.
i'm surprised no one talked about the pair of bungalows going at $91m :scared-1:
with all the talk about correction and predictions of doomsday, SH phase I sold 70% of launched units and these bungalows going at skyhigh prices.That 2 bungalows attract a totally different league of buyers lah... these people who look at GCB will probably not be bothered by the PC market..
having you been preparing since 2010? the date u joined the forum? now is not good time, prepare some more until property crash a few years later down the road.
difference prioritization before ...
Can any one provide a rough guideline on how much housing loan I can get based on nett income per month. e.g. $5k per month of nett income and have no outstanding loan at all...seeing how much I can stretch...just want to prep.Not sure about the current market but I suspect can get $500k? Correct me if I'm mistaken.
regency321
16-04-12, 14:10
Can any one provide a rough guideline on how much housing loan I can get based on nett income per month. e.g. $5k per month of nett income and have no outstanding loan at all...seeing how much I can stretch...just want to prep.
You can try this
http://www.propertyguru.com.sg/mortgage_affordability_calculator
Can any one provide a rough guideline on how much housing loan I can get based on nett income per month. e.g. $5k per month of nett income and have no outstanding loan at all...seeing how much I can stretch...just want to prep.
I think the rule of thumb is this:
1. monthly installment up to 40% of your gross income. for eg, your salary is $10k and hence up to $4k of monthly instalment that you can serviced.
2. less off your other loan servicings for other property and car loan. Say for eg, your other property is fully paid but your car loan is $1k per month, then the bank can lend you up to $3k per month of instalment.
3. From $3k per month instalment, the bank will gross up the total principal loan they can lend to you based on your age and interest rate profile.
You are in a better financial health status than me. I am 35 year old this year.
I have two infant kids, one is 11+ months old, the other is coming soon. I have a 4.5 year old car too, but still financing with outstanding loan of 30kSGD.
Our family saving is around 100kSGD (cash/shares) in total, and our HDB flat in Central West area has an outstanding bank loan of 460kSGD.
Seriously man, i hope you are not thinking of dumping all your $100k as downpayment. since you need 40% LTV as second property, for your $100k as 40% downpayment, you can't really buy a pc at $250k right? unless you have CPF well above the minimum sum of $65k.
From this stats reported in straits times, it seems saving $5k a month (=$60k a year = $300k every 5 years) is easily achievable for the top 30% of the households... that means they can possibly put in the downpayment for a 2 bedder condo very 5 years.
ikan bilis
16-04-12, 14:29
Can any one provide a rough guideline on how much housing loan I can get based on nett income per month. e.g. $5k per month of nett income and have no outstanding loan at all...seeing how much I can stretch...just want to prep.
my experience 2yrs ago.... was told by bank officer,... first property, 30-40% of your income for instalment,... 2nd property? bank boh chap as long as LTV around 60-70% (mine time was 70%).... :beats-me-man:
i told that bank officer... "like that may be i better wait for all 3 local banks to kena sub-prime crisis first, then buy any property".... :D
don;t ask me why hor....
my experience 2yrs ago.... was told by bank officer,... first property, 30-40% of your income for instalment,... 2nd property? bank boh chap as long as LTV around 60-70% (mine time was 70%).... :beats-me-man:
i told that bank officer... "like that may be i better wait for all 3 local banks to kena sub-prime crisis first, then buy any property".... :D
don;t ask me why hor....
There are many unorthodox ways, even 3rd property can just down 20-30% only byusing another person's name from family without any proof of income
Can any one provide a rough guideline on how much housing loan I can get based on nett income per month. e.g. $5k per month of nett income and have no outstanding loan at all...seeing how much I can stretch...just want to prep.
Friend of mine makes abt that much, but with car loan. He got +400k loan.
There are many unorthodox ways, even 3rd property can just down 20-30% only byusing another person's name from family without any proof of income
Would that mean the ppty would then be registered under someone else name, right?
Not sure about the current market but I suspect can get $500k? Correct me if I'm mistaken.
last time my pay about $6K, standard chartered say can loan me $800+K. think depends on the officer working out the loan.
That 2 bungalows attract a totally different league of buyers lah... these people who look at GCB will probably not be bothered by the PC market..
this i know. i'm just surprised about the transactions that despite all the uncertainty looming in the air, they still went through.
Hi Yantao
If prices continue to inch up or stay range bound u may need to wait a little longer for correction. Dont give up, be patient, age is on your side.
I too old already, so no choice and jump into the boat. dont know whether
is a burning boat:D
Would that mean the ppty would then be registered under someone else name, right?
of course that's right
last time my pay about $6K, standard chartered say can loan me $800+K. think depends on the officer working out the loan.
thanks for the heads up....at least can start planning for opportunity down the road
Can any one provide a rough guideline on how much housing loan I can get based on nett income per month. e.g. $5k per month of nett income and have no outstanding loan at all...seeing how much I can stretch...just want to prep.
using a DSR of 50%, u can afford 2.5k in installment which is for 900k loan amt, 35 years. this is the max. u should do approval in-principle.
My personal thoughts are correction will come when several factors are aligned:-
1) All these properties are being snapped up by investors rather than occupiers
2) Less friendly PR policies drive away the bulk of rentals and rental yield drops
3) Interest rate goes up/ macroeconomics i.e spain defaults, euro crashes yada-yada
900-1k psf woodlands?! 1.5-1.7k psf bishan?!
phantom_opera
17-04-12, 16:12
In my industry, applying for EP for qualified professionals take only 1 day
Our door still wide open :cool:
In my industry, applying for EP for qualified professionals take only 1 day
Our door still wide open :cool:
Ya, mine too... approvals are even faster than 3-4 years back.... got approval within at max a week....
My personal thoughts are correction will come when several factors are aligned:-
1) All these properties are being snapped up by investors rather than occupiers
2) Less friendly PR policies drive away the bulk of rentals and rental yield drops
3) Interest rate goes up/ macroeconomics i.e spain defaults, euro crashes yada-yada
!
my guess this will happen in 2020:scared-1:
speculator
17-04-12, 23:50
my guess this will happen in 2020:scared-1:
Why 2020? What is the rational
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