Property market sentiments 2011

[devilplate]

Going by the speed of construction, the deluge could come 1-2 years earlier around 2012. The proposed solutions may not be effective:

• Increasing immigration number is very sensitive now due to lack of transport, health care etc infrastructure. Adequate housing supply is only part of the picture. Now it is also very politically sensitive.
• Speeding up estate renewal process via SERS is expensive and challenging due to limited land for new HDB estates.
• BTOs cannot be slowed down due to real demand by lower-medium income people who actually needs the house now.

In another word, only slowdown in GLS can mitigate but not solve the problem of large supply in the next few years.

u r waiting to buy?

[penguin]

Spoke to a few agents and all mentioned rental mkt is moving up. Agents also mentioned there are many pple, including indos wanting to rent first (River Valley area somemore), and they intend to buy when there is a price correction. Does this show there is no lack of money ard; afforability is not an issue; and everyone is playing the waiting game? What will the outcome be in 2012-2013? Any comments?

[devilplate]

Spoke to a few agents and all mentioned rental mkt is moving up. Agents also mentioned there are many pple, including indos wanting to rent first (River Valley area somemore), and they intend to buy when there is a price correction. Does this show there is no lack of money ard; afforability is not an issue; and everyone is playing the waiting game? What will the outcome be in 2012-2013? Any comments?

first of all, ur sources totally unreliable oredi....agts words/stories u can believe meh?

[penguin]

first of all, ur sources totally unreliable oredi....agts words/stories u can believe meh?

Yes I know agents' words cannot totally believe. But one thing for sure, rental is indeed moving up. That I am sure, because my RCR unit used to fetch 2.8K just a yr ago, now it's 3.2K. Surrounding devt's rental also increased.

I actually do think there will be a price correction, but not a crash. Could it be just a slight one, before prices start to rise steadily again?

[hopeful]

The whole article is based on the historical data of 2002-2005 period. But the period between 2006-NOW have seen explosive population growth and demograhic changes. And not to mention the rapid rise of Asia economies and prolong environment of very low interest rate. There are more dynamics at play now than the period between 2002 and 2005.....................

Forgot the New Economy already? IT is the game changer. No more business cycles. Dow will hit 40.000, blah blah blah.

So now more dynamics, more game changer? Very good if many people think like you. Humans have short memories. That's why have boom or bust. If no boom and bust, how to make money?

[devilplate]

Yes I know agents' words cannot totally believe. But one thing for sure, rental is indeed moving up. That I am sure, because my RCR unit used to fetch 2.8K just a yr ago, now it's 3.2K. Surrounding devt's rental also increased.

I actually do think there will be a price correction, but not a crash. Could it be just a slight one, before prices start to rise steadily again?

price correction oredi over after aug cooling measures....spotted some slightly below valuation transaction for some condos...

i am still waiting for BIG bubble leh.....so far...only bubbles in new launches....resale like

rental definitely up compared to last yr lows lor...dun say RCR....my OCR also up from 2k to 2.5k and found tenant within 2wks

[penguin]

price correction oredi over after aug cooling measures....spotted some slightly below valuation transaction for some condos...

i am still waiting for BIG bubble leh.....so far...only bubbles in new launches....resale like

Yeah I agree you can still find some good buys in the resale mkt, but not the new devts.

However, Im thinking if it's true that Singaporean's wealth is bigger now than before, so much so that majority can easily afford to pay, say 1400psf or higher in D15. If there is really a crash, won't they have holding power to hold on till the next peak again? What makes pple think they will sell at a huge loss?

If there is a crash, how low do you think D15 (marine parade area) will drop to?

[hopeful]

Triple whammy in 1997-1998
1) Interest up and up.
2) People lose job.
3) Property value goes down.

Hopefully it happens again in next recession after I clear my stock.
Hopefully recession last like 2 years, because most experts advises investors to have only 1 year standby to cover expenses.

[hyenergix]

u r waiting to buy?

I already bought one last year to be nearer to work at a reasonable price. I can afford another one but not keen at these prices now. So currently just looking around showrooms to enjoy the interior deco and gauge market sentiment. Hoping to buy a resort-style small unit near a beach if the price is right.

[devilplate]

I already bought one last year to be nearer to work at a reasonable price. I can afford another one but not keen at these prices now. So currently just looking around showrooms to enjoy the interior deco and gauge market sentiment. Hoping to buy a resort-style small unit near a beach if the price is right.

is there such unit? small unit near beach? perhaps near pasir ris beach ?

[hyenergix]

is there such unit? small unit near beach? perhaps near pasir ris beach ?

I better don't reveal too much about the location I'm looking at

[devilplate]

I better don't reveal too much about the location I'm looking at

share la...so secretive for wat? hehe....u worry we fight for ur choiced unit during downturn meh?

after i tok about Mi casa, i realised many more transactions being done wor...haha

[hyenergix]

Haha, maybe. But now it is definitely not the right time for me to buy because I don't know exactly how the market is going to react to large condo supply, plus other unfavorable factors. I will only buy if a unit tugs very strong at my heart-string or it is so value-for-money that I can buy and sleep well at night.

[devilplate]

Haha, maybe. But now it is definitely not the right time for me to buy because I don't know exactly how the market is going to react to large condo supply, plus other unfavorable factors. I will only buy if a unit tugs very strong at my heart-string or it is so value-for-money that I can buy and sleep well at night.

i am curious where is the place....i dun care whether u buy now or not...u make or lose $$....our own biz mah rite....

small unit and yet near to beach....sentosa cove only got big units....or 2bedder in sentosa considered small unit?....hmm...

[hyenergix]

i am curious where is the place....i dun care whether u buy now or not...u make or lose $$....our own biz mah rite....

small unit and yet near to beach....sentosa cove only got big units....or 2bedder in sentosa considered small unit?....hmm...

1 or 2-bedder is a small unit to me. Anything above is big unit

[DaytonaSS]

Haha, maybe. But now it is definitely not the right time for me to buy because I don't know exactly how the market is going to react to large condo supply, plus other unfavorable factors. I will only buy if a unit tugs very strong at my heart-string or it is so value-for-money that I can buy and sleep well at night.

u probably can derive some conclusion from the attached chart.

[reuters]

1 or 2-bedder is a small unit to me. Anything above is big unit

Small and near the beach? I was also looking for something like that and realised the best is to buy one near an underpass to East Coast Park. Whether or not we have a view of the sea is another matter - anyway we only have the view of tankers. But the 1, 2 bedders of 517sqft to 650sqft are rare and hard to come by. Not cheap either!

[kane]

He was a super bull in the 2007-8 before the crisis, appeared in the papers/talk so often

Yes I remember his bullish pitches, looks like he's toned down after the crisis.

[hyenergix]

u probably can derive some conclusion from the attached chart.

Yup, thanks. Population growth really slowed down by a lot in 2010. I suspect this year residential rental would stagnant or drop for those not near MRT or near to the CBD (tanjong pagar, marina bay etc) area. It will take some time for these stories to reach the public/press.

[hopeful]

Yup, thanks. Population growth really slowed down by a lot in 2010. I suspect this year residential rental would stagnant or drop for those not near MRT or near to the CBD (tanjong pagar, marina bay etc) area. It will take some time for these stories to reach the public/press.

so any forummers anti-foreigners? be it high class or low class FTs.
Be the vocal majority instead of the vocal minority which dictates PAP policies just before election.

[rattydrama]

Yup, thanks. Population growth really slowed down by a lot in 2010. I suspect this year residential rental would stagnant or drop for those not near MRT or near to the CBD (tanjong pagar, marina bay etc) area. It will take some time for these stories to reach the public/press.

But what about if the government release the floodgate? Rite now I hear that alot of foreigners working in SG waiting to be PR. But again that would improve the sales of HDB flats if the floodgate indeed open up. So maybe not so much on private price as private can sell to anyone rite now.

So maybe the private price will drop a little?

[devilplate]

But what about if the government release the floodgate? Rite now I hear that alot of foreigners working in SG waiting to be PR. But again that would improve the sales of HDB flats if the floodgate indeed open up. So maybe not so much on private price as private can sell to anyone rite now.

So maybe the private price will drop a little?

wun drop due to all these....

probably nid a currency crisis......

[kingkong1984]

wun drop due to all these....

probably nid a currency crisis......

Or the much feared or anticipated double dip recession.

[wind30]

Or the much feared or anticipated double dip recession.

actually all you need is for US to start raising interest rates. Current interest rates are too low.... EVERYONE has holding power.... When interest rate goes back to 4%... then you see people bailing out.

[rattydrama]

actually all you need is for US to start raising interest rates. Current interest rates are too low.... EVERYONE has holding power.... When interest rate goes back to 4%... then you see people bailing out.

if property price up by another 20%, 4% interest ok rite?

[jwong71]

if property price up by another 20%, 4% interest ok rite?

sharing my experience,lately i had view some resale units selling 50k below past tranascted prices. Yet neither any buyers nor me bite bait due to the uncertainities..

so when rate hits 4%,and properties up by another 20%-100%. wad make u think its easier to sell,compare to current market and current price owner asking 50k below trans prices?

[rattydrama]

sharing my experience,lately i had view some resale units selling 50k below past tranascted prices. Yet neither any buyers nor me bite bait due to the uncertainities..

so when rate hits 4%,and properties up by another 20%-100%. wad make u think its easier to sell,compare to current market and current price owner asking 50k below trans prices?

People still need a roof. I am just saying if ppty price goes up by 20%, will the 4% interest rate trigger a ppty owner to sell? rental could sustain his loan.

[hyenergix]

Most people already have a roof over their head with BTOs and ECs. Pte condos now are really 'extras'. Many people are now feeling the pinch of higher food, electricity and oil price. More people will become more cautious with their $.

[jwong71]

People still need a roof. I am just saying if ppty price goes up by 20%, will the 4% interest rate trigger a ppty owner to sell? rental could sustain his loan.

Spike in rates,can force "some" owners to sell..
especially those overleverage, down only 10% down,multiple units and those dont have much cash or holding power.

unless ur trying to tell us,properties prices up by 20%, rental will up oso 20%? and able to cover the mortgage
*I DO WELCOME THAT INCREASE IN CONDO RENTAL,WHICH WILL RESULT A SPILL OVER TO THE HDB RENTAL. (i do not own any hdb,but just managing a indo frd hdb,rental which split with me monthly)

[jwong71]

Most people already have a roof over their head with BTOs and ECs. Pte condos now are really 'extras'. Many people are now feeling the pinch of higher food, electricity and oil price. More people will become more cautious with their $.

yes pte condo are buying as "extras".. and i gotta agree people are more caution with their money resulting in, smarter sellers,and smarter buyers.