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very rich, or very bored. visiting showflats represents a kind of entertainment for these retirees. Getting agents to lavish attention on them beats getting mistreated by their sons and daughters.Quote:
Originally Posted by Wild Falcon
but in exchange, they give up their life time savings for MM units that may or may not shine in the future. when all the MM units TOP, who are going to rent them from these old people?
yah. great photos you took too!
it seems to be that retirees who have fully paid up for their homes continue to pay 20 to 100% down for these shoebox apartments to rent out in future. like devilplate said, many are fearful of financial instruments and are thus pumping their retirement funds into these "affordable" shoeboxes.
Quote:
Originally Posted by azeoprop
Interesting development...so much for targetted, calibrated and pre-emptive.
Developers will start pushing out smaller and smaller units in an attempt to cap the absolute quantum at $xxx.
Developers will submit plans with long constrution periods & TOP of 4 yrs & above
Buyers will still buy because at such 'low' absolute quantums, the 10% extra cash and the 1 yr extra wait have not hit their pain threshold. The high cash reserves and lack of alternative investible assets makes demand pretty inelastic as long as absolute quantum is within a certain range
Garmen is more worried now with uncles and aunties going in. They may be desperate when something happens to them to let go or to drop rent when there are no takers when it TOP. I have come across some of them in some recent TOP projects. They were probably told to invest in property as the FD interest rate and mortgage rate of bank is low with increasing inflation rate. MM units must be the winner here.Quote:
Originally Posted by Wild Falcon
maybe they already have a plan. if nobody rents, then they just move in themselves. anyway, they don't need so much space and only need to spend less effort to tidy up 387 sq ft.
Quote:
Originally Posted by stalingrad
it is just the "own a real asset to draw rental income from" phenomenon. but very soon, the whole country will be full of MM units, so many that they are coming out of our ears. have these aunties and uncles ever thought of that?Quote:
Originally Posted by proper-t
Garmen could not interfere on developer's business decision. They will leave it to the market forces. They only incharge of rules, measures, etc.Quote:
Originally Posted by proper-t
very true. so, very soon, the downtown areas will become the retirement home for singapore's old and frail. while the young and healthy will congregate in the suburbs.Quote:
Originally Posted by bargain hunter
see. the current measures hit resale, renders subsale non-existent and continues to enrich developers.
from an investment point of view. it is indeed not ideal for retirees. ppty is meant as a long term investment but their time horizon is not that long. some may have paid up in full and like u said, anyhow drop rent when no takers. on the other hand, there may yet be other retirees who are not as financially savvy and put down only 20% since their homes are fully paid. these could even lose their life savings without knowing what happened! :scared-1:
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Originally Posted by DC33_2008
well said.....when they get old they cannot travel long distance to town. so city area will become retirement town:DQuote:
Originally Posted by stalingrad
I'm bullish on stocks too. but you can't put everything in stocks.. anyway this is not a stocks forum. (stocks are far more entertaining ;) )Quote:
Originally Posted by bargain hunter
actually I dun think the spottiswoods buyers are your "usual" uncle aunties.... I didn't go there, but for the nearby UOL one, the buyers are mostly professionals.
the Kovan one is probably more by the uncles.
spott18 vy near to outram/chinatown/SGH leh...perfect location for oldies...lol:DQuote:
Originally Posted by stalingrad
If they lose big and have to become homeless, who is there to save them? their children or the government.Quote:
Originally Posted by bargain hunter
to prevent the unpleasant prospect of bailing out these retirees, LTA must be further raised. to 50% for retirees with no regular income.
major IPO about to launch in SG to soak up excess liquidity....typical auntie/uncles will be dying for it...including me:ashamed1: ....kopi $$$:D
dun worry...700k to 1mil...many uncle/auntie may not even nid to take any loan....both husband and wife may hf 1mil in cpf+cashQuote:
Originally Posted by stalingrad
got a relative bot a MM at kovan grandeur using full cash from CPF alone nia(he is a retiree)
another reason they like the condo is that like teddy but unlike the younger generations, they still prefer CCR. their mindset was acquired many years ago based on what they saw and heard when they were in their 30s.Quote:
Originally Posted by devilplate
biggest IPO ever wor. even bigger than singtel. that should do the soaking up of liquidity. :D hmm gahmen measures always go hand in hand with mega ipos it seems?
Quote:
Originally Posted by devilplate
yes, this IPO is a buy if you believe the China story. I many buy some. but since it is Li's baby, I may buy just a little. I don't trust Li.Quote:
Originally Posted by devilplate
i knew many uncles and aunties already "book" the giant IPO, but mostly from foreigners, their titles r "datuk" and "datin" :D
Quote:
Originally Posted by devilplate
when they r oredi in their 50s-60s....mostly dunwan to take loan one even if its just 20% ....they aso scare....they say going to retire leh....so buy the smallest unit smallest quantum....tats y MM perfect for them in tat sense....Quote:
Originally Posted by bargain hunter
prospectus not out yet u already say buy, do your research first...
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Originally Posted by stalingrad
I did not read the prospectus of minibond, and invested $270K in it. haha. I am doing it all over again. yes, need to be cautious.Quote:
Originally Posted by noblebaby
but the UOL one was bigger units and wily wee always knows how to time, position and price. ;) and yup, it was targeted at professionals alright.
but this one hor...........
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Originally Posted by amk
this type of MM units just "sup sup water" for foreign investors... especially from malaysia... Individual investor can ask for IPO allotment of US$50-US$200mio.
wah!! i dun hf such frens/relatives wor...u from royal family?:scared-5:Quote:
Originally Posted by noblebaby
that's why called "noble" baby. :)
Quote:
Originally Posted by devilplate
this Hutchi thing already spreading ard since last week. remember I said "gov will have bonds funds ipos to suck up liquidity ?" clearly they think it's better to have these moneys in equities. mapletree is also going to list vivo city and etc. another big ipo. gov is telling all uncles to go buy these instead.
but I bet it wouldn't work. Uncles and aunties would still prefer "real" assets; i.e., board and mortar. stocks for them are still "fake" assets.Quote:
Originally Posted by amk
Uncles and Aunties can pass it on their children. Better than leaving behind $. $ devalue but property increase in the long term.Quote:
Originally Posted by stalingrad
What is the effect of latest property cooling measure?
Answer: Make MMs real hot!
Spottiswoode 18
Loft @ Steven
??????
All MMs can set like hot cake because even with 60% LTV still very low amount of cash required! The cooling measures got serious problem man! ECs in ulu places 1st day sell like hot cake, after cooling measure released become so cool that few want to buy!