If they start tweaking the interest rate, your currency is screwed big time. Business will leave soon and the free market reputation is gone. Money will reverse out and Singapore will really die.
Originally Posted by avo7007
Newbie
If they start tweaking the interest rate, your currency is screwed big time. Business will leave soon and the free market reputation is gone. Money will reverse out and Singapore will really die.
Bricks & Mortar
Bad news all round, almost 30k housing agents out there now registered, some going to eat grass for a while..., new launches down, flipping down, volume of transaction down..., really tough. I know some agents in recents mths not interested to do HDB rentals, maximise their time on sales of units..., now merrying up rentals may be their best source of bread n butter
Strange enough, I was with an Agent friend last evening for drinks and he say this morning he will be busy attending internal meetings..
Newbie
But the SSD portion affects the private property. For EC, it is no impact as it has to be sold to Singapores/PR after 5 years.
Newbie
Latest measures really scary.
Just about it, given 40% loan and more importantly the 16% SSD the speculators and short term investors (2 years horizon) will be completely gone.
It is like saying, you can only buy if you have lots of cash, and after buying you cannot sell in the short term. Even you got money you won't buy, right? Unless you are truly landlord type of person or buying a home.
Big blow.
Even Fixed deposit can be closed if you need the money. This one really makes ppty investment very very illiquid.
I cannot imagine how much prices will drop?
Senior
Got. They keep coming back to me wanting to buy my choice units at market price (especially immediately after Govt implements cooling measures) and I always quote them 15% above market price. They LL! Good choice units not scare no buyers. Rich people like choice units in the estate, expensive never mind. Cheap to them is no good (as you said). What is a good reason to sell cheap (cheaper than your neighbouring units) if your property is really good choice unit? Nil. When you sell cheap, it means your unit is no good compared to neighbouring units. The same is true about one estate vs the neighbouring estate (usually the more expensive estates are the better estates - Ops, only caveat is I am comparing resale vs resale, never against new sale because those not worth the money since developers always quote at 25-35% premium and still attracts lots of speculators, pay 10% option fee and can wait till pay the rest for next 3-4 years).
good to know and happy for you ...
can u kindly update us ( me especially) if after this latest measures ..wil they still DIE DIE pay up 15 pct for choice unit
i am not being sarcastic but sincerely want to know whats these buyer's mentalities are after the measures
thanks
Senior
if your prop is bought before 14 jan .. SD only 3 pct if sold within 3yrs ..
if no one buys prop ... the whole system will be even moreflushed with $$$ ..bank interest rates will fall even more ...
read my earlier post ... i dont think it will drop below 30 pct .. or according to Mr Kwek ..max 38 pct and you will be able to find a buyer
Newbie
I agree. There are some folks in this forum who do not stand up to their mistake and blast others. That is rude and lacks class.
I am referring to others (not Stalingrad or Orange though)
Sorry guys, to bring this up again.
I am hounding Stalingrad like a hound, since I smell potential profits from his knowledge D10 properties. I believe these to be hidden gems. So I throw my dignity to the wind and beg Stalingrad about his knowledge of D10 that he mentioned in another thread.
Stalingrad, you are either a speaker of untruths or selfish.
1) untrue because there is no such properties.
2) untrue there are such projects, but you are interested to buy CCR, so you dont want competition.
3) selfish because not interested in CCR,yet do not want to share.
by the way, I have no issue with point3. So which are you? Just shut me up.
And to Orange,
You are one bombastic fellow. When the push to shove, you hide in a corner and ignore. So do you still think prices will drop to 1970s level if a bomb explode in Orchard Rd?
A simple answer yes or no will suffice. or you will just ignore my question and business proposal? just shut me up too.
Guys, I maybe a loudmouth idiot, but I will recognised when I am wrong and i dont hide it.
I think I am the only who admitted that he is wrong in predicting that government won't take additional measures.
Sorry for making this personal.
Newbie
Bad bad news!
Residential property market will be on the brink of death in next 3 quarters, at least.
Speculators and short term investors are totally out of the game.
Marginal investors will be totally squeezed out.
Aspirational investors will rethink about getting a second property.
High networth investors will be waiting for significant correction before jumping in again.
Property investment will increasingly be reserved for the well to do. Rich man playground. Rich getting richer( though not near term).
Newbie
The 30 % drop is based on the loan issue only, what about SSD issue? I am thinking there are people who can buy with less loan but don't want the ppty to be so illiquid. Like if I offered you a 5% interest rate Fixed deposit but you will incur 16% penalty will you go for it?
I have no idea how much prices will drop, but I know it will be significant for some segments, the highly speculative segments of Rivervalley for example.
Junior
dun say drop 30%, if drop 15 to 20% all hell break loose liao lol and HDB will be hit
Junior
essentially the 4 yr SSD is a form "MOP" ... private property style
Newbie
the numbers will be there...but it will definitely drop...
Newbie
The new rule says for non individuals can only loan up to 50%. Does this apply to a purchase by husband and wife?
Junior
non individual = institution or company.
Newbie
The SSD 3% is only applicable for properties bought before 14 Jan 2011 but after xx/xx/2010?
Anyone knows the date? I think properties bought before 2010 dun hv SSD at all!
Senior
was it 30 aug 2010
Exalted
after 30Aug and b4 today...hehe
b4 tat was feb....ssd for 1yr only
Junior
If I remember correctly, real estate values went down 3 years in a row after the 1996 measures. the measures announced yesterday seem more draconian than the 1996 measures. so, 4 to 5 years of bear market for real estate?
Exalted
hey any1 knows wats the latest SSD for china/HK?
btw, stock market sea of red....buying time next wk
Exalted
if another asia financial crisis/double dip struck...yes....possibly 4-6yrs of BEAR
govt always too late to implement measures and also too late to remove it...
Newbie
Hi everyone. I am not very familiar with speculative property. Anyone can recommend which is the high speculative segment which will be hard hit and presents good value buys? High transaction speculative segment, any recommendations? Thanks in advance.
Senior
i dun think so ....
this is not what govt want to achieve ..
they want to control runaway prices not kill it ...
not forgetting they are culprits too ...
they sell land ... were they cheap ? not really ...cos when 1 bid lower ..they actually turned down the only single bid ... meaning they wanted to sell HIGH
so if the developers who had bought land in the last 6 mths now get stucked becos of this new measures ... i am sure they wont let govt rest in peace ...
they will fight ...
and really trust me govt dont want to fight developers .. govt needs them to give spore a face lift ( this is what i said since 2006) ..
once developers get fked by govt's policies ..they will not come back for a logn time .. to recover the loss and also to fk back the govt ..
so i dont see that happening
Senior
all the Greenwich....Tennery ..... ex Rose garden .... Horizon ... oppss all F3O projects ?
strange .... but they are the most expensive OUTSKIRT project thats sold higher than many in its surrounding area
Junior
I wouldn't buy MM units, nor would I touch anything selling for $1,500psf.
why? because MM units are bought mostly by speculators. and these guys were totally killed by yesterday's measures and have gone to heaven or hell, depending on whether god is a speculator or not.
high end properties will be hit hard because the SSD is based on total sales proceeds. besides, in this climate, who has an appetite for these castles in the cloud (good looking but useless in hard time)?
Senior
like u said, we REALLY need to thank this developer for the measures!
Junior
don't forget that the government said the same thing in 1996; we just want to cool the market down, not to kill it. look what happened later.
Exalted
dun waste time on these projects....
hmmm...jus nid to find out recently TOP or going to TOPed CCR projects....TOP Party
Exalted
tot u r waiting for TOP party?like u said, we REALLY need to thank this developer for the measures!
1shenton and even clift may hf panicky sellers...hmm...hehe
Newbie
Real estate prices corrected in 1997 due to Asian financial crisis. There were 4-5 measures from 1990 to 1997 but nothing works.
Junior
strange, I thought you said the same thing after the previous round of cooling measures.
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