View Full Version : Got this feeling property price will fall next year
The past few days keep having this feeling.
The qns is by how much? ....5, 10, 15, 20, 30% ??
I think 10-15% highly possible.
What you think?
Pikachu1245
13-10-12, 15:06
The past few days keep having this feeling.
The qns is by how much? ....5, 10, 15, 20, 30% ??
I think 10-15% highly possible.
What you think?
I think will go up 10-15% first and then come down 5-10%.
So overall ,up or down, you decide ;)
blackjack21trader
13-10-12, 15:10
The past few days keep having this feeling.
The qns is by how much? ....5, 10, 15, 20, 30% ??
I think 10-15% highly possible.
What you think?
yes, down 10-15% depending on what kinda property. I agree :(
yes, down 10-15% depending on what kinda property. I agree :(what kinda of property?
blackjack21trader
13-10-12, 15:15
what kinda of property?
beats me too :doh:
The past few days keep having this feeling.
The qns is by how much? ....5, 10, 15, 20, 30% ??
I think 10-15% highly possible.
What you think?
Understand your feeling. Those who have not buy will constantly have this feelings. It can last a few years just like one of the forum member here. Even experts predicted with data & chart failed on their prediction why waste time feel. Spend your time to plan & purchase your dream house is more worthwhile.
CIMB Research analysts called the Government's move a 'bazooka' that could shoot down property prices overall by 15 to 20 percent over the next 12 months.
Goldman Sachs analysts see a 'state of paralysis' for the property market. Their prediction is for private home prices to slide 15 percent over the next 18 months.
Standard Chartered Bank was the most bearish. A report by the bank last week had already envisioned prices dropping up to 30 percent over three years. Now the bank expects the same fall to occur within one year.:confused: :beats-me-man:
Allthepies
13-10-12, 15:57
The past few days keep having this feeling.
The qns is by how much? ....5, 10, 15, 20, 30% ??
I think 10-15% highly possible.
What you think?
Ya I have this feeling since 2009. Lucky I bought fast as 2009 was the bottom :D :D even at bottom buyers will have this weird feeling. :doh: :doh:
Secretariat
13-10-12, 16:02
The past few days keep having this feeling.
The qns is by how much? ....5, 10, 15, 20, 30% ??
I think 10-15% highly possible.
What you think?
Well, the more people who share the feeling, the more it won't happen.
Well, the more people who share the feeling, the more it won't happen.
if you think about it CMs target both buyers and sellers. Stepwise, unless the CM makes it easier to sell or offload, the price will stay.
The sequence of the CMs is designed to support the price stability. I.e. if CM 6 comes out first, followed by CM5, developers could sell many small units.
If SSD was not one of the first CMs, a lot of owners would have already put their property up for sale. Prices should have plunged already.
So trust in the stability.
Seriously, I don't think so.
Was talking to my neighbour who is a MD of a listed company in US, now he is posted to sin, he said too much liquidity and many people want to get into sin, thus prices will be well supported...he said his company is still expanding and bringing in staffs...rental may soften though due to oversupply but buyers from china and India will continue to invest in sin.:doh:
Price will be flat at least for next 6 months and will continue to move up.
Barring unforeseen circumstances, price will continue to climb. This could be the longest climb before hitting the plateau. Times are definitely different from the previous cycles and reference to history, we will have those feeling that price is dropping soon.
Garmen already prepared for this climb which is why one after another they are trying to drag on the Bull with the CMs. :o
Hang on tight to your property. :cheers4: :2cents:
will only fall in 2015 :D
Read below from another blog:
Maybe can do the same for property....
You may have heard of the famous Stanford Marshmallow Experiment.
In 1972, psychologists rounded up a bunch of children, aged four to six. Said children were shown a marshmallow on a plate. They were told that, if they could wait 15 minutes before eating the marshmallow, they’d get two marshmallows instead.
A minority ate the marshmallow right way. Some attempted to wait the 15 minutes, and a third of them succeeded.
10 years later, the shrinks checked on their former lab rats. The same children who waited the 15 minutes were more successful; probably because they could delay their need for gratification.
The next time you want to make an impulse buy, think of the children! Identify when you’re in the “impulse zone”. It’s usually when you keep thinking or imagining buying something, for no reason other than wanting it. Once that happens, you can either:
(1) Distract yourself with a book or TV
(2) Set a future date and resolve to buy it then
Delaying gratification gets easier with practice. In time, this skill will extend to cover your use of credit cards and loans. Stock traders, in particular, need copious amounts of patience. Commodities trader Richard Bei says:
“Learn to be sceptical. Learn to deny your knee-jerk reactions. The most difficult lesson is knowing when to do nothing; sometimes you just need to keep quiet and wait.
I have experienced many times when I made bad investments; just because my fingers are itchy. I cannot stand to just watch while the market is peaking, I want jump in because I’m scared I’ll miss it. But the right thing to do was to wait, for the time when the market dropped again.”
Greed kills a man!
As an investor, it is important to know your timeline and know when to take profit. It is better to sell when few are selling than when most people are trying to get out. The point is it is safer to take "lesser profit" than trying to time the market and sell at the peak because when the peak comes is also when the curve starts to descend. Many more people will be selling then and before you rationalise with yourself, you may miss the boat to sell because more people are now waiting for the price to drop futher before buying.
It is important to know your timeline and take profit if you are not holding it for rental.
Read below from another blog:
Maybe can do the same for property....
You may have heard of the famous Stanford Marshmallow Experiment.
In 1972, psychologists rounded up a bunch of children, aged four to six. Said children were shown a marshmallow on a plate. They were told that, if they could wait 15 minutes before eating the marshmallow, they’d get two marshmallows instead.
A minority ate the marshmallow right way. Some attempted to wait the 15 minutes, and a third of them succeeded.
10 years later, the shrinks checked on their former lab rats. The same children who waited the 15 minutes were more successful; probably because they could delay their need for gratification.
The next time you want to make an impulse buy, think of the children! Identify when you’re in the “impulse zone”. It’s usually when you keep thinking or imagining buying something, for no reason other than wanting it. Once that happens, you can either:
(1) Distract yourself with a book or TV
(2) Set a future date and resolve to buy it then
Delaying gratification gets easier with practice. In time, this skill will extend to cover your use of credit cards and loans. Stock traders, in particular, need copious amounts of patience. Commodities trader Richard Bei says:
“Learn to be sceptical. Learn to deny your knee-jerk reactions. The most difficult lesson is knowing when to do nothing; sometimes you just need to keep quiet and wait.
I have experienced many times when I made bad investments; just because my fingers are itchy. I cannot stand to just watch while the market is peaking, I want jump in because I’m scared I’ll miss it. But the right thing to do was to wait, for the time when the market dropped again.”
This experiment is good and is sound, but not always applicable in life. Imagine this adjustment to the experiment. Every ten minutes, one more child is added into the room while every hour, 1 more marshmallow is added to the plate. The experimenter only will be able to give out the double amount, subject to the marshmallows left at the end of the experiment. How would the children respond?
In actual fact, it is necessary to ponder potential costs and benefits carefully. Jumping in is not wise, holding out is not necessarily a wise choice. It all depends on how you sense the situation.
it is not in the govt best interest to crash the market so they will just hold things at present level is my guess...:cool:
Should go and read all those previous threads in 2011 discussing whether prices will drop or not.
It has been said many times that those who have just bought would hope and say that prices will continue to go up and those who have sold or have missed the boat would hope and say that prices will drop.
Read all the forecasts and predictions of experts and gut feeling of forumers, end of 2011. Which person has actually predicted correctly that 2012 prices would climb 1-5%, which is happening now?
In short, only the almighty knows the answer how prices will move in the next few years as there are just too many unknown variables involved.
Bear in mind that prices have generally already jumped >30-40% and in some cases 60-70% since 2009. Even if prices continue to climb, the jump will be curtailed by the CMs.
The writing is on the wall.
Even Parilament is putting pressure on MND about the rising price. Going forward, any price increases is limited and balance by more CMs. The chances of a gradual downward in prices (even without crisis) cannot be ruled out.
simple, ask the Govt, are they prepared to lower the land price?
are they prepared to lower all taxes?
are they prepared to lower all labour costs?
The writing is on the wall.
Even Parilament is putting pressure on MND about the rising price. Going forward, any price increases is limited and balance by more CMs. The chances of a gradual downward in prices (even without crisis) cannot be ruled out.
Do u think those whom have asked questions for the parliament have vested interest in properties? If so, would they wish for price to go up, down or stablise?
Do u think those whom have asked questions for the parliament have vested interest in properties? If so, would they wish for price to go up, down or stablise?
Likely voicing genuine concerns that if the already high prices continue to escalate unbated, it is not good for everyone, especially for the younger ones.
simple, ask HDB to lower the prices of all new sales.....
Parilament owes a duty to the people. They understand the needs and the economic of having affordable housing to maintain political and social order. We should not be second guessing their vested interests. For all we know, they might already cashed out.
phantom_opera
13-10-12, 19:52
They can talk ... but do they have the guts to ban 3rd property purchase outright like China
Then ppl will say they are crazy ..
http://www.youtube.com/watch?v=O1cJ8QUZZPE&feature=related
and look at China ... the more you ban, the more ppl want to buy :beats-me-man:
For China, which is better; ban or not ban?
phantom_opera
13-10-12, 19:56
For China, which is better; ban or not ban?
ban will delay price appreciation because you need time to find a hole ;)
and bear in mind in China interest rate is so much higher
simple, ask HDB to lower the prices of all new sales.....
Hdb forms the base price. Ya it is very simple, if they want to control the price they just lower the price of new hdb. But, do u know what will happen next?? They will have a much bigger problem!
Your private condo price will crash down...:scared-3: this is almost certain!:rolleyes:
ban will delay price appreciation because you need time to find a hole ;)
and bear in mind in China interest rate is so much higher
Delay price appreciation or rather bring the price down to acceptable level (in line with income) is exactly what the Chinese government is trying to do. Price must not rise beyond income and that is the govt main concern.
We are facing the same problem here.
phantom_opera
13-10-12, 20:07
Delay price appreciation or rather bring the price down to acceptable level (in line with income) is exactly what the Chinese government is trying to do. Price must not rise beyond income and that is the govt main concern.
We are facing the same problem here.
If Breaktalk starts selling their bread > $2 ... would they lower the price soon?
I notice the Apple Worm of Breadtalk is half the size compared to a few years ago (and yet more expensive)... MM Apple Worm :p
Do u think those whom have asked questions for the parliament have vested interest in properties? If so, would they wish for price to go up, down or stablise?
I think they want it to go down.
They also missed the boat and want to buy as many as they can. :)
If Breaktalk starts selling their bread > $2 ... would they lower the price soon?
I notice the Apple Worm of Breadtalk is half the size compared to a few years ago (and yet more expensive)... MM Apple Worm :p
You have seen developers slashing prices to boost sale right?
For consumer goods like bread, Breadtalk would come up with a cheaper version of bread to differentiate with their normal breads and still sell and make their profit.
simple, ask HDB to lower the prices of all new sales.....
.....are those who bought at 3-rm, at say, less than 15K 30 years ago in Toa Payoh willing to sell at 60K (400% profit) today because they bought cheap?
Definitely not, they will sell at market price probably at 350K and will be cash rich, enough to help their son/son-in-law to put the downpayment for FV.
...yes its ok to let HDB resale price to increase, but make sure New HDBs are dirt cheap, so all newbies have a good bite at the cherries.....FT will pay the price for resale HDB, this will allow Singaporean to move up to private condos or landed.
Aiya, my thinking too fast
I wanted to say
ask HDB to lower the BTO prices by 50%
then everything will come down
management by example lah
government will have to increase the first timer subsidies to make HDB prices remain affordable. MND should just leave the resale market to market forces and perhaps allow singles to buy HDB directly from government.
BTO price = Buy This Old price
...but sell at New Price.....
government will have to increase the first timer subsidies to make HDB prices remain affordable. MND should just leave the resale market to market forces and perhaps allow singles to buy HDB directly from government.
This give SERS a new definition:
Singles Eligibility Right Scheme .....
simple, ask the Govt, are they prepared to lower the land price?
are they prepared to lower all taxes?
are they prepared to lower all labour costs?
Does not mean it would translate to lower prop price? Devlopers will just have better margins.
For China, which is better; ban or not ban?
Just execute the people then?
if hdb wants to sell cheap to home owners, then the home owners must only sell their hdb flats back to hdb on the cheap. otherwise, they're just giving away a free lottery.
The government has already signalled that it will continue to allow immigration. Very difficult for prices to come down, also very difficult for prices to go up quickly.
Whether next year price drop I don't know but very sure the next 10 to 20 years sgp property price will sky rocket
Sleepyhead
13-10-12, 23:20
A few banker friends lost their jobs this year... Expecting more cuts to come in the next year...Banks are not planning to expand next year.. Many are contracting..
So. Rental coming down?
:scared-4: :scared-4:
A few banker friends lost their jobs this year... Expecting more cuts to come in the next year...Banks are not planning to expand next year.. Many are contracting..
So. Rental coming down?
:scared-4: :scared-4:
Must be those who offer 6 year loan to property buyer.
Whether next year price drop I don't know but very sure the next 10 to 20 years sgp property price will sky rocket
Between now and the next 20 years, there will be up and down. Some will win and some will loose. For those who bought in 1996, it took them 16 years to see the light of the day. Investors need to think deeper.
A few banker friends lost their jobs this year... Expecting more cuts to come in the next year...Banks are not planning to expand next year.. Many are contracting..
So. Rental coming down?
:scared-4: :scared-4:
Yes seeing softness in rental
if hdb wants to sell cheap to home owners, then the home owners must only sell their hdb flats back to hdb on the cheap. otherwise, they're just giving away a free lottery.
Well but home ownwrs dont want. All are seeing a hpme as investment so can retire later.
A few banker friends lost their jobs this year... Expecting more cuts to come in the next year...Banks are not planning to expand next year.. Many are contracting..
So. Rental coming down?
:scared-4: :scared-4:
.....must be those who take staff loan to buy FV...
.....must be those who take staff loan to buy FV...
Must be those who offer 6 year loan to property buyer.
Haha. Seems like bankers are much hated indeed.
To borrow from bro Kana,
Bankers
When they need you, you are their God
When you need them, you are their Dog
For those who call for government to sell cheap HDB, I hope you can understand that cheap HDB means the rest of the population is subsidizing them.
Why not like this, for every "cheap" HDB block they sell we increase your tax by 0.1% ?
The rationale way to do this is to mark to market everything. Then we get the true value. Use the money to help the poor (who has household income less than $1,500).
So, before you ask for more and more cheap stuff for everyone, please think.
DKSG
For those who call for government to sell cheap HDB, I hope you can understand that cheap HDB means the rest of the population is subsidizing them.
Why not like this, for every "cheap" HDB block they sell we increase your tax by 0.1% ?
The rationale way to do this is to mark to market everything. Then we get the true value. Use the money to help the poor (who has household income less than $1,500).
So, before you ask for more and more cheap stuff for everyone, please think.
DKSG
Bro dk, if these people not too lazy to exercise their pea brains, they wouldnt be asking for handouts.
Bro dk, if these people not too lazy to exercise their pea brains, they wouldnt be asking for handouts.
I dont think people love to ask for handouts la.
I agree with you that people should not sit around and ask for payouts.
Everyone should work hard!
Even Office Boy has been working hard lately, scouting for a commercial property! hahaha!
Anyway, my point is lowering new HDB prices is not the way to go unless the rest of the population agrees. Government money is our money.
DKSG
phantom_opera
14-10-12, 11:06
Golden age is here, expect steady pun pi pi for next 10y
樓價指數3連升 一城破頂
經濟日報 – 2012年10月13日星期六上午6:48
【經濟日報專訊】QE3效應進一步浮現，反映二手樓價走勢的中原城市領先指數（CCL）再破頂，新報111.11點，連升三周累升2.72%，屋苑屢現跳價成交，沙田第一城395呎一周跳價5萬元，荃灣中心1房戶月內三度破頂，政府表明，有需要會再出招。
政府消息人士回應稱，當局正在密切關注樓市走勢，但除了樓價外，亦參考其他一籃子指標，包括成交量等，如有需要，會推出進一步的措施，以確保樓市健康平穩發展。
政府密切關注 保樓市健康
身兼長遠房屋策略督導委員會成員的經濟學家關焯照認為，樓價持續創新高屬預料之內，在量寬效應下，市民對通脹及樓價升值預期增加，加上買賣氣氛亦趨熱烈，未來樓價會維持大漲小回格局。
盡管國際貨幣基金組織（IMF）認為本港樓市未有泡沫迹象，但關氏卻指，當樓價與收入差距進一步擴大，物業投資租金回報跌至低點，已反映樓市出現泡沫，情況一如80年代初、97年的樓市泡沫。因此，他將會在即將展開長遠房屋策略委員會會議上，建議政府從速出手調控樓市，包括透過填海大幅增加供應。
新界東西指數 料快創新高
本港二手樓價連續3周創新高，CCL最新報111.11點，按周升0.88%，指數反映9月17日至23日時市況，即QE3出台後首周市況。中原地產研究部高級聯席董事黃良昇指出，CCL近三周的累計升幅，較上一次6月17日至7月1日連升3周的1.58%，以及5月6日至6月3日連升5周的2.86%為多，可見QE3推動樓價升勢。另外，尚未破頂的新界東及新界西指數，料最快可於本年第四季及明年初創新高。
屋苑屢現跳價成交，沙田第一城395呎戶呎價再破頂，美聯物業首席高級營業經理黃錦瀚表示，沙田第一城23座中層C室，面積395平方呎，以333萬元沽出，較本月初舊紀錄328萬元再高5萬元，呎價8,430元創屋苑呎價新高。原業主於去年9月份，以252萬元購入單位，年多單位升值81萬元。扣除SSD稅16.65萬元，以及9.63萬元佣金雜費支出，仍獲利54.7萬元。
荃中6510元呎 創97後高價
另外，荃灣中心1房單位月內更三度破頂。中原地產分行經理黃耀明表示，荃灣中心11座中層D室，面積404平方呎，無睇樓下以263萬元沽出，打破一周前同類單位260萬元、以及9月份尾245萬元的舊紀錄，平均呎價6,510元，創屋苑標準分層單位97後呎價新高。
Yes seeing softness in rental
Where?
I see people taking 2 bedroom hdb for 2.2 k.. What kind of softness is that?
May be only highend market but bottom hdb, still very stable.
Every day, a new Ah B is born.
Those who are squeezed out of the market by the new CM will certainly cry F cry M, say this soft that soft.
Look around, go to some showflats like Office Boy, u will see there are PLENTY of liquid cash in the market.
With the thousands of 40s being squeezed out of the residential market, I can CONFIRM CHOP SIGN that the next segment of investment people will look at now is commercial/retail properties. The yield of 6-7% is way too high, valuation will go up in the very near future.
DKSG
phantom_opera
14-10-12, 13:48
We should thank the fence sitters and bears out there ... they only prove one thing ... market is not anywhere near the peak
Remember we are dragon tail, Shanghai / Hong Kong are the heads
If twin Heads chiong to the 7th heaven, how can the tail remain in the sea
飞龙在天
We should thank the fence sitters and bears out there ... they only prove one thing ... market has not peaked or is even anywhere near the peak
Remember we are dragon tail, Shanghai / Hong Kong are the heads
If twin Heads chiong to the 7th heaven, how can the tail remain in the sea
飞龙在天
ya and they are the one starting to drive the market now.....:D
What do you expect when $40B is money tsunamis keep CRASHING onto our shores EVERY MONTH, non-stop, until US economy improves.
And when they start to improve, I am sure u know what happens next.
We are in the fortunate era, so make the best out of this.
Hopefully I am quit my office job soon ... though its kinda fun to see the uncles and aunties in my office trying to invest in properties... haha!
Happy investing!
DKSG
What do you expect when $40B is money tsunamis keep CRASHING onto our shores EVERY MONTH, non-stop, until US economy improves.
And when they start to improve, I am sure u know what happens next.
We are in the fortunate era, so make the best out of this.
Hopefully I am quit my office job soon ... though its kinda fun to see the uncles and aunties in my office trying to invest in properties... haha!
Happy investing!
DKSG
They only give me 6 year, very sad game over.
They only give me 6 year, very sad game over.
Look for the new game, there are properties which people have not started to invest big time yet ...
All the best!
Day after day, many people come and ask office boy which property to buy, I gave them some ideas. Some are gungho, took the suggestion and made hundreds of thousands. Some are hestitant (like the ones I told them to buy Parvis at developer's price, Wharf at $1,500, etc), and now everyday meet me tell me "should have heeded your advice" ...
I have nothing else to say to them ...
DKSG
phantom_opera
14-10-12, 14:01
We should thank the fence sitters and bears out there ... they only prove one thing ... market is not anywhere near the peak
Remember we are dragon tail, Shanghai / Hong Kong are the heads
If twin Heads chiong to the 7th heaven, how can the tail remain in the sea
飞龙在天
0001.HK
http://chart.finance.yahoo.com/z?s=0001.HK&t=6m&q=l&l=on&z=l&a=v&p=s&lang=zh-Hant-HK®ion=HK
Look for the new game, there are properties which people have not started to invest big time yet ...
All the best!
Day after day, many people come and ask office boy which property to buy, I gave them some ideas. Some are gungho, took the suggestion and made hundreds of thousands. Some are hestitant (like the ones I told them to buy Parvis at developer's price, Wharf at $1,500, etc), and now everyday meet me tell me "should have heeded your advice" ...
I have nothing else to say to them ...
DKSG
How to go for new game when they give you 6 years.
How to go for new game when they give you 6 years.
Use son's name. New lease of life.
Hi... I am thinking if I will sell all my HDBs to get a Mt Sinai Residence?
Hi... I am thinking if I will sell all my HDBs to get a Mt Sinai Residence?
Wa bro, you damn cheem. So u solve the problem w fv?
Use son's name. New lease of life.
3 years later.
Hi... I am thinking if I will sell all my HDBs to get a Mt Sinai Residence?
Dont bang too hard on Mt Sinai area.
The growth potential is not deemed to be outstanding.
Medicore at best.
DKSG
Wa bro, you damn cheem. So u solve the problem w fv?
Hi. Yes and No with FV. I have to make some sacrifice in FV, in exchange of the help promised out by the person.
Dont bang too hard on Mt Sinai area.
The growth potential is not deemed to be outstanding.
Medicore at best.
DKSG
Hi DKSG..Thanks. Mt Sinai Residence is currently priced at 5-6mil SGD. I am intending to let go all HDBs (anticipating HDB price will be corrected), and in exchange of the landed. It is just an idea, a thought and plan.
If you believe in our LKY, you should hold on to your HDB.
PC prices can correct sharply, but HDB prices will always be supproted by the government.
Think, my friend, think.
But I dont understand the link betw HDB and a 5-6 mil property.
Your sums and calculations looks a bit out of whack for me.
Anyway, I not interested to do financial planning for you, just commenting on the potential of Mt Sinai area.
DKSG
If you believe in our LKY, you should hold on to your HDB.
PC prices can correct sharply, but HDB prices will always be supproted by the government.
Think, my friend, think.
But I dont understand the link betw HDB and a 5-6 mil property.
Your sums and calculations looks a bit out of whack for me.
Anyway, I not interested to do financial planning for you, just commenting on the potential of Mt Sinai area.
DKSG
I believe Mr. LKY. But, he is an old man now.
Singapore today is different from yesterday.
Mt Sinai is my dream place - I am just toying the idea of doing 3 HDBs exchanging for a landed.
A bold one...but can be an interesting and rewarding one.
Hi DKSG..Thanks. Mt Sinai Residence is currently priced at 5-6mil SGD. I am intending to let go all HDBs (anticipating HDB price will be corrected), and in exchange of the landed. It is just an idea, a thought and plan.
......wow....are planning to fly airplane part-time? ...thought you needed the HDBs to finance FV installment.....Think you can get double/triple the rental of 3 HDBs with Mt Sinal Residence or FV to take on another 2-3Mil loan assuming you can get 1mil each for the HDBs?
buttercarp
14-10-12, 14:59
......wow....are planning to fly airplane part-time? ...thought you needed the HDBs to finance FV installment.....Think you can get double/triple the rental of 3 HDBs with Mt Sinal Residence or FV to take on another 2-3Mil loan assuming you can get 1mil each for the HDBs?
Actually why not.
If each HDB is 1 mil - yowetan will get 3 mil, then he can buy landed.
Then he let out his FV to pay the loan.
Actually why not.
If each HDB is 1 mil - yowetan will get 3 mil, then he can buy landed.
Then he let out his FV to pay the loan.
Hi. I will lost my FV (FYI).
Hi. I will lost my FV (FYI).
How come? I thought you said a forumer came to your rescue?
Didn't manage to work something out?
buttercarp
14-10-12, 15:17
Hi. I will lost my FV (FYI).
So sorry to hear that.
Will lose or lost already?
That means lose booking fee?
Last time you mentioned you exercised the option.
But you did not pay the remaining 15% yet?
Actually why not.
If each HDB is 1 mil - yowetan will get 3 mil, then he can buy landed.
Then he let out his FV to pay the loan.
...thought he was eyeing the 5-6mil Sinai Residence?.......and provided all 3 HDBs are the premium ones, not forgetting his mortgage on his own unit........optimistically he would get around 2mil...think he is also thinking of selling FV....but this dream need to wait till MOP HDB/FV?
Hi. I will lost my FV (FYI).
"will lost" ?
you said u had exercised the option..so, u put your integrity and credibiltiy in great doubt.
buttercarp
14-10-12, 15:53
"will lost" ?
you said u had exercised the option..so, u put your integrity and credibiltiy in great doubt.
If exercise option, still got a few weeks before he pays the remaining 15% for sale to go through.
I think he could not pay the remainder due to revision of preferential staff loan so he gave it up.
If exercise option, still got a few weeks before he pays the remaining 15% for sale to go through.
I think he could not pay the remainder due to revision of preferential staff loan so he gave it up.
NO, he cannot give it up already...signed....sighed....
So, what happen to the one gave him money....
buttercarp
14-10-12, 16:09
NO, he cannot give it up already...signed....sighed....
So, what happen to the one gave him money....
Actually can cos buy directly from developer.
Sign OTP.
Pay 5% booking fee.
2 weeks later developer sends the S&P.
Option will expire within 3 weeks after delivery date.
Remaining 15 % - pay by 8 weeks from the time you sign OTP.
Every day, a new Ah B is born.
Those who are squeezed out of the market by the new CM will certainly cry F cry M, say this soft that soft.
Look around, go to some showflats like Office Boy, u will see there are PLENTY of liquid cash in the market.
With the thousands of 40s being squeezed out of the residential market, I can CONFIRM CHOP SIGN that the next segment of investment people will look at now is commercial/retail properties. The yield of 6-7% is way too high, valuation will go up in the very near future.
DKSG
No 6-7% yield right, only maybe industrials. Now I see mostly are below 5% already. Some are even approaching 3.5% yield.
Actually can cos buy directly from developer.
Sign OTP.
Pay 5% booking fee.
2 weeks later developer sends the S&P.
Option will expire within 3 weeks after delivery date.
Remaining 15 % - pay by 8 weeks from the time you sign OTP.
The developers and lawyers are now very efficient.
U always receive the S&P within 3-4 working days from date of OTP, and not 2 weeks.
Based on what he posted, he sighed already....Ooops, he signed alr...so no turn back lah
buttercarp
14-10-12, 16:33
The developers and lawyers are now very efficient.
U always receive the S&P within 3-4 working days from date of OTP, and not 2 weeks.
Based on what he posted, he sighed already....Ooops, he signed alr...so no turn back lah
Yup, they are very efficient.
But they have up to 2 weeks to send it to you or your lawyer.
So he has to sign within 3 weeks of receiving it.
But payment is 8 weeks from signing of OTP.
So in between can withdraw from the sale.
So I think yowetan case is like that.
No 6-7% yield right, only maybe industrials. Now I see mostly are below 5% already. Some are even approaching 3.5% yield.
I think still a fair bit at about 5%.
Anyway, i think the yield will settle at abt 3.5-4%.
Residential yield will drop to abt 2.5-3% soon.
DKSG
I think still a fair bit at about 5%.
Anyway, i think the yield will settle at abt 3.5-4%.
Residential yield will drop to abt 2.5-3% soon.
DKSG
what about MM yields
The developers and lawyers are now very efficient.
U always receive the S&P within 3-4 working days from date of OTP, and not 2 weeks.
Based on what he posted, he sighed already....Ooops, he signed alr...so no turn back lah
Yup, they are very efficient.
But they have up to 2 weeks to send it to you or your lawyer.
So he has to sign within 3 weeks of receiving it.
But payment is 8 weeks from signing of OTP.
So in between can withdraw from the sale.
So I think yowetan case is like that.
Yap..sis is right. Even you signed the S&P, your lawyer will only post it with your 15% payment cheque to the developer's lawyer few days before OTP expired so between it you still can call yr lawyer to withdraw.
Yap..sis is right. Even you signed the S&P, your lawyer will only post it with your 15% payment cheque to the developer's lawyer few days before OTP expired so between it you still can call yr lawyer to withdraw.
No, the S&P is signed while exercised the option and must be posted to the lawyer of the developer upon the expiry of OTP, if not the 1.25% of the purchase price will be forfeited immediately.
Whereas the 15% is 8 weeks later and always not posted together with the S&P
buttercarp
14-10-12, 23:21
Strange.... Mine was not like that. I signed my S&P first, ie within 3 weeks after the delivery of the S&P, which otherwise will expire n 1.25% of purchase price will be forfeited . Then the cheque was delivered to the developer exactly 8 weeks from the day I signed the OTP. So there is an in between period when I could back out of the sale. Perhaps it differs with each developer?
Strange.... Mine was not like that. I signed my S&P first, ie within 3 weeks after the delivery of the S&P, which otherwise will expire n 1.25% of purchase price will be forfeited . Then the cheque was delivered to the developer exactly 8 weeks from the day I signed the OTP. So there is an in between period when I could back out of the sale. Perhaps it differs with each developer?
I think my 8 weeks may be wrong, it could be from the date of S&P.
Once u sign the S&P, your lawyer will deliver before the expiry of the OTP to the lawyer of the developer. After that u cannot revert anymore even u have yet to pay the 15%
Strange.... Mine was not like that. I signed my S&P first, ie within 3 weeks after the delivery of the S&P, which otherwise will expire n 1.25% of purchase price will be forfeited . Then the cheque was delivered to the developer exactly 8 weeks from the day I signed the OTP. So there is an in between period when I could back out of the sale. Perhaps it differs with each developer?
What you say is the correct process. During the in-between period, you CANNOT back out of the sale.
You can back out of the deal by negotiating with the developer.
If sales is good, maybe developer will just makan your 5% and resell the unit again to Huat again. If market is bad, they sue you until xxx (fill in the xxx yourself)...
To understand this better, just imagine you just sold your property to someone, and the someone after exercising the option and before completion tell you he wants to back out. What do u do ?
If market is good, you quickly makan all the monies paid till date and threaten to sue the person and grab more money from him, then quickly resell the unit at higher price !
If market is bad, you sue the buyer until he sell his children/wife ...
For me, I will just take 5% and ask for 5% more... haha
Office Boy is kind!
DKSG
What you say is the correct process. During the in-between period, you CANNOT back out of the sale.
You can back out of the deal by negotiating with the developer.
nowadays, the developers are very strict on this.
U can even change unit after u sign the S&P.
nowadays, the developers are very strict on this.
U can even change unit after u sign the S&P.
Long time ago cannot change unit after signing S&P.
Now cannot even change unit the minute after the OTP is signed (usually).
But in this cheongster-style period, after u sign OTP, go home and come back again next week, what unit u want to change to ? Usually the better ones are gone liao lo !
DKSG
What you say is the correct process. During the in-between period, you CANNOT back out of the sale.
You can back out of the deal by negotiating with the developer.
If sales is good, maybe developer will just makan your 5% and resell the unit again to Huat again. If market is bad, they sue you until xxx (fill in the xxx yourself)...
To understand this better, just imagine you just sold your property to someone, and the someone after exercising the option and before completion tell you he wants to back out. What do u do ?
If market is good, you quickly makan all the monies paid till date and threaten to sue the person and grab more money from him, then quickly resell the unit at higher price !
If market is bad, you sue the buyer until he sell his children/wife ...
For me, I will just take 5% and ask for 5% more... haha
Office Boy is kind!
DKSG
lets not jump the gun. YT have not filled the detals yet.
there is always a bridging loan at a higher rate.
it's unlikely the bank will give a bridging loan worth up to 20% of the property price. anyway, he's going for a landed property at mt sinai liao.....FV is passe
it's unlikely the bank will give a bridging loan worth up to 20% of the property price. anyway, he's going for a landed property at mt sinai liao.....FV is passe
yeah.. Why go for a camry when you can go for a merc S class.
yeah.. Why go for a camry when you can go for a merc S class.
Problem is he can't afford Camry...yet want to buy Merc S leh..:eek: !
I think my 8 weeks may be wrong, it could be from the date of S&P.
Once u sign the S&P, your lawyer will deliver before the expiry of the OTP to the lawyer of the developer. After that u cannot revert anymore even u have yet to pay the 15%
Wrong. 8 weeks from OTP.
Within 3 weeks from OTP, developer lawyer would require the S/P to be signed in the presence of buyer lawyer and returned to developer. Otherwise the 1.25% is forfeited.
Problem is he can't afford Camry...yet want to buy Merc S leh..:eek: !
he's making his parents and in-laws to sell their proton sagas and QQs so that everyone can squeeze into the merc mah
Strange.... Mine was not like that. I signed my S&P first, ie within 3 weeks after the delivery of the S&P, which otherwise will expire n 1.25% of purchase price will be forfeited . Then the cheque was delivered to the developer exactly 8 weeks from the day I signed the OTP. So there is an in between period when I could back out of the sale. Perhaps it differs with each developer?
Mine too under BUC unit that I recently purchased mid this year. Previously (8 years ago)purchased (BUC) condo were also the same procedure leh..
1.Signed OTP (BUC) at showflat.
2.Wait for the S&P to deliver to me after 1 week.
3.Make appt and meet my lawyer with the S&P.
4.Lawyer go through the S&P and expained to me before I signed it.
5.Write a 15% payment post cheque as adviced by the lawyer. He said he will send out with the S&P on xx date (about 3~5 days before OTP expire) so incase I change mind to withdraw the sale. After the xx date, there will be no return.
perhap, the procedure many be differ from really unit again BUC (Building under contruction) lor..:rolleyes:
buttercarp
15-10-12, 14:15
Mine too under BUC unit that I recently purchased mid this year. Previously (8 years ago)purchased (BUC) condo were also the same procedure leh..
1.Signed OTP (BUC) at showflat.
2.Wait for the S&P to deliver to me after 1 week.
3.Make appt and meet my lawyer with the S&P.
4.Lawyer go through the S&P and expained to me before I signed it.
5.Write a 15% payment post cheque as adviced by the lawyer. He said he will send out with the S&P on xx date (about 3~5 days before OTP expire) so incase I change mind to withdraw the sale. After the xx date, there will be no return.
perhap, the procedure many be differ from really unit again BUC (Building under contruction) lor..:rolleyes:
Yes, yes. Same here..... so during that time , I was allowed to withdraw from the sale should I change my mind but in which case, will have to forfeit 25% of the booking fee which is 1.25% of the purchase price..
buttercarp
15-10-12, 14:19
Wrong. 8 weeks from OTP.
Within 3 weeks from OTP, developer lawyer would require the S/P to be signed in the presence of buyer lawyer and returned to developer. Otherwise the 1.25% is forfeited.
LOL....... all the nitty gritty.
You partially right.
1. Sign OTP and pay booking fee - 5% of purchase price.
2. Developer has up to 2 weeks to deliver the S&P.
3. Sign S&P within 3 weeks of delivery. OTP will expire within 3 weeks of delivery.
4. Pay up remaining 15% by 8 weeks from the day you signed the OTP.
LOL....... all the nitty gritty.
You partially right.
1. Sign OTP and pay booking fee - 5% of purchase price.
2. Developer has up to 2 weeks to deliver the S&P.
3. Sign S&P within 3 weeks of delivery. OTP will expire within 3 weeks of delivery.
4. Pay up remaining 15% by 8 weeks from the day you signed the OTP.
This procedure has not be changed since 10yrs ago liao...before that I not sure la....:D !
LOL....... all the nitty gritty.
You partially right.
1. Sign OTP and pay booking fee - 5% of purchase price.
2. Developer has up to 2 weeks to deliver the S&P.
3. Sign S&P within 3 weeks of delivery. OTP will expire within 3 weeks of delivery.
4. Pay up remaining 15% by 8 weeks from the day you signed the OTP.
Yes. OTP expires 3 weeks from delivery of S/P.
Also, they are obligated to send the S/P within 3 weeks of OTP.
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