Property price is coming down fast

[samuelk]

I guess if the rumours is true, there would have been a record sale today as well.

Time to lay back and on a lazy afternoon.

CNA would have been providing "live" broadcast of stampede at show flats and developments if this was true.

Only near truth would be those that lost big time in stocks or short the wrong way when greece defaulted would be give 20 % discount.

[stiook]

tons in strait times classified & propertyguru....go & ask for it, you will get, 10-20%...
I sold what I need to...only fools still keep now....in next 1-2 yrs, you will know....

Hey, I did it for the unit I was eyeing... But the agent thought I making fun of him leh...

[samuelk]

shout what you like....things will unfold whether or what youn shout now....
when recession comes, retrenchment hit....many semicon already started retrenchment in last 4 week, many companies already start unpaid leave....many foreigners will be sent home once recession or stagflation or depression here in time to come.....

This part of the argument seems to be true. But waiting for the PR numbers to go up and check on the papers. If it is going up, that means many jobs affected. But they still staying here so no reduction in demand as well for a place to stay.

When retrenchement starts FT get nervous and apply for PR to get a longer stay and also gives themself more choice in the govt sector jobs. Better then going back where there is also no jobs available.

[ysyap]

Hey, I did it for the unit I was eyeing... But the agent thought I making fun of him leh...

That agent didn't read the papers lah! LOL!

[ikan bilis]

sigh... die lah, die liow...

bought my condo 10-months ago...
latest sep transaction record in URA says similar unit gone up by 15% in 10 months.... i thought happy liow...
but now suddenly it crashes 15-20% liow... kena loss liow.. and yet no buyer....

how ? how ?... die liow lah... si liow...
i cannot stop crying...sigh... sigh...

can anyone help buying over my unit?.. tolong... tolong....

[land118]

Garung Guni, Lelong Lelong ah!!!

[stiook]

sigh... die lah, die liow...

bought my condo 10-months ago...
latest sep transaction record in URA says similar unit gone up by 15% in 10 months.... i thought happy liow...
but now suddenly it crashes 15-20% liow... kena loss liow.. and yet no buyer....

how ? how ?... die liow lah... si liow...
i cannot stop crying...sigh... sigh...

can anyone help buying over my unit?.. tolong... tolong....

I also shitting in my pants... I bought one, still kena SSD. .

[ysyap]

sigh... die lah, die liow...

bought my condo 10-months ago...
latest sep transaction record in URA says similar unit gone up by 15% in 10 months.... i thought happy liow...
but now suddenly it crashes 15-20% liow... kena loss liow.. and yet no buyer....

how ? how ?... die liow lah... si liow...
i cannot stop crying...sigh... sigh...

can anyone help buying over my unit?.. tolong... tolong....

In Jan? Was that before or after the latest CM? I buy from you at 20% discount from the price you bought lah to prevent it from going even further down? LOL!

[dtrax]

Last I check nope, maybe that was 2mths back, probably this month all selling 10-20% lower:

ILLUMINAIRE ON DEVONSHIRE 65 Devonshire Road #16-04 1 43 Strata 1,180,000 27442 2549 14-OCT-2011 Apartment Freehold 2011 Sub Sale Private 09 23 239900 Central Region River Valley

THE CLIFT 21 Mccallum Street #30-07 1 46 Strata 1,133,500 24641 2289 13-OCT-2011 Apartment 99 Yrs From 28/04/2004 2011 Sub Sale Private 01 06 069047 Central Region Downtown Core

TANGLIN REGENCY 381 Tanglin Road #14-03 1 91 Strata 1,260,000 13846 1286 13-OCT-2011 Condominium 99 Yrs From 01/05/1994 1998 Resale HDB 10 24 247965 Central Region Bukit Merah

NEWTON EDGE 3 Makeway Avenue #08-08 1 43 Strata 880,000 20465 1901 12-OCT-2011 Apartment Freehold 2011 Sub Sale Private 09 22 228600 Central Region Novena

THE FORD @ HOLLAND 1 Ford Avenue #03-01 1 57 Strata 1,100,000 19298 1793 12-OCT-2011 Condominium Freehold 2009 Resale Private 10 26 268685 Central Region Bukit Timah

ST MARTIN RESIDENCE 2 St. Martin'S Drive #04-04 1 55 Strata 1,360,000 24727 2297 12-OCT-2011 Condominium Freehold 2001 Resale Private 10 25 257989 Central Region Tanglin

URBAN RESORT CONDOMINIUM 32A Cairnhill Road #05-03 1 237 Strata 7,572,600 31952 2968 12-OCT-2011 Condominium Freehold Uncompleted New Sale Private 09 22 229720 Central Region Newton

NATHAN RESIDENCES 23 Nathan Road #06-01 1 55 Strata 980,000 17818 1655 12-OCT-2011 Apartment Freehold Uncompleted Sub Sale HDB 10 24 248744 Central Region Tanglin

VIVACE 19 Tong Watt Road #02-10 1 42 Strata 913,103 21741 2020 11-OCT-2011 Apartment 999 Yrs From 01/07/1841 Uncompleted New Sale HDB 09 23 238011 Central Region River Valley

MARTIN PLACE RESIDENCES 2 Martin Place #29-05 1 186 Strata 4,500,000 24194 2248 11-OCT-2011 Condominium Freehold Uncompleted Sub Sale Private 09 23 237988 Central Region River Valley

ICON 10 Gopeng Street #16-09 1 54 Strata 1,080,000 20000 1858 10-OCT-2011 Apartment 99 Yrs From 29/01/2002 2007 Resale Private 02 07 078878 Central Region Downtown Core

CAIRNHILL RESIDENCES 33 Cairnhill Circle #02-05 1 108 Strata 2,360,890 21860 2031 10-OCT-2011 Apartment Freehold 2009 Resale Private 09 22 229775 Central Region Newton

SOLEIL @ SINARAN 2 Sinaran Drive #19-01 1 89 Strata 1,655,000 18596 1728 07-OCT-2011 Condominium 99 Yrs From 23/10/2006 2011 Sub Sale Private 11 30 307467 Central Region Novena

PARC EMILY 5 Mount Emily Road #06-02 1 51 Strata 970,000 19020 1767 07-OCT-2011 Condominium Freehold 2008 Resale Private 09 22 228490 Central Region Rochor

[ysyap]

I also shitting in my pants... I bought one, still kena SSD. .

Don't worry lah... I also bought one and kana the SSD but prices have since soared > 15% for my project so prices falling 15% will only equalize to the original price.

[stiook]

Don't worry lah... I also bought one and kana the SSD but prices have since soared > 15% for my project so prices falling 15% will only equalize to the original price.

Scared that I miss the boat leh... 40-50% drop leh... No bullets when it comes...

[devilplate]

Scared that I miss the boat leh... 40-50% drop leh... No bullets when it comes...

Sell away ur hdb now lor

Hdb is the only segment tats still hot hot

[DC33_2008]

If PCs drop by 50%, how many % will Hdb flats drop?

[devilplate]

If PCs drop by 50%, how many % will Hdb flats drop?

30-40% based on history

[ikan bilis]

hello... if private PC drop 50%... how much hdb drop not important lah!!..

"how much my wanton noodle will drop" is more important... will it drop from S$3 back to S$1.50 ??... these day me cannot find any S$2.50 wanton noodle around....

[DC33_2008]

Price of wanton noodle has not correlation with property prices. Maybe to some extent property rental besides other factors.

hello... if private PC drop 50%... how much hdb drop not important lah!!..

"how much my wanton noodle will drop" is more important... will it drop from S$3 back to S$1.50 ??... these day me cannot find any S$2.50 wanton noodle around....

[howgozit]

I would not discount Bro Basic's concerns totally, unlike Bro BJ21T who thinks a crash will never happen. Perhaps what is going to happen is somewhere in between.

Though I am not as pessimistic, I am also very wary of the road 6mths to 1yr down the road.

Bros/Sis with 2 or more holdings, I would urge you to look at your portfolios again very carefully. If the property is your only roof over your head than its a different story... but if you are holding on as investments, don't be too greedy with your profits or get too sentimental with your purchase.

Just my 2 cents.

[stiook]

Well, I do think that a correction is due soon... But how much? A drop of 20% would just bring us back to 2009/2010 level. For me, a crash of 50% seems too drastic.

[dtrax]

I would not discount Bro Basic's concerns totally, unlike Bro BJ21T who thinks a crash will never happen. Perhaps what is going to happen is somewhere in between.

Though I am not as pessimistic, I am also very wary of the road 6mths to 1yr down the road.

Bros/Sis with 2 or more holdings, I would urge you to look at your portfolios again very carefully. If the property is your only roof over your head than its a different story... but if you are holding on as investments, don't be too greedy with your profits or get too sentimental with your purchase.

Just my 2 cents.

There is nothing wrong with his bear mode, he can be bear we respect that and afterall we are here to learn and share. But to give blatant remarks that new developments is falling by 20% NOW without giving any specific examples or proof, i call that tcss

[kane]

So time to review CM and land sales program?

[Laguna]

China property price in Shanghai, Beijing, Shenzhen & all major cities have been plunging down in last 1-2 months, down 20-50%, many developers are cutting price to raise fund as their cash flow dry up, there is no other channels to borrow now, banks, stock market, bonds are all shut, only black market lending at 100% interest/yr which some developers has no choice...with such price cutting, response is still no good, volume is still very low, instead many earlier buyers return their units to developers as before completion, already see 30-40% price down, so many riots & unrest in china now on such cases....situation in china property will get worse in next few months as china govt already said, cooling measures for property will not lift, no loosen of credit in property market in next 12 months, govt want to see property price down to affordable level.....

Same to HK, property price already down 15-20% in last 1-2 month, many chinese dump their property in HK to channel funds back to China due to tight credit control in china. Also due to bad experience of 1996/7, many sold recently at 5-10% below buying price in 1996/7, they do not want to go thru' the hardship period of last 15/16 yrs, working for life to pay off housing debt. Negative asset in HK in last 1 month already raised to 2000 cases, the number will keep increasing in coming months with property price continuing to drop due to global debt crisis, trade war, no demand, tight liquidity, rate hike, job retrenchment & deteriorate situation.

Spore too, many developers already giving discount of 15-20% to get rid of their holding as they know, the later they get out, lost will be higher. Resale owners down price more than developers in order to let go their units as tons of sellers out there, >150,000 units now in the market for sales, no buyers now due to property is illiquid investment, any collapse of economy in PIIGS in Europe or further downgrade of USA this month or China local govt debt or Japan debt will immediately turn the world into double dip recession, domino effect to pull whole world down to standstill economy.

This is another guy making sweeping here. I call all these guys talk without substance.

Like FEO, ya, they gave huge discount of as high as 20% for The Seawind, but this is their marketing strategy. 6 Units of townhouses sold for around $4.3m within a nite.

For their Euhabitat, the price has gone up more than 10% within a month by dropping discount and this is still moving.


HK property market down only 1.6% last month
http://hk.centadata.com/cci/cci.htm
I track HK property market very closely, and so for only one firesale of 6% below market price. and still so many good properties breaking new high,

China is instrumenting a softlanding now. It is better for longer term.

show ur facts and figures first u can earn your respect here.
Else, ur just another rubbish here

[kane]

2+mio cluster sold out in 3 days. If this feels like cool down, I the to amsee wwhy a hot market will look like.

[hyenergix]

My view is price change could vary between 0% to -5% in 2012 from the level in Oct 2011. The basis for my projection are the following factors:

Driving forces for price increase:
1. MRT expansion (partially factored in)
2. JLD and MBFD investment (partially factored in)
3. Constant low interest rate (factored in)

Driving forces for price decrease:
1. More BTOs, ECs and DBSS (partially factored in)
2. Surge in condos TOP (to be factored in from 2012)
3. Weaker demand for goods and services (to be factored in from 2012)
4. More retrenchment (to be factored in from 2012)
5. Prolonged inflation (to be factored in from 2012)

[basic]

This is another guy making sweeping here. I call all these guys talk without substance.

Like FEO, ya, they gave huge discount of as high as 20% for The Seawind, but this is their marketing strategy. 6 Units of townhouses sold for around $4.3m within a nite.

For their Euhabitat, the price has gone up more than 10% within a month by dropping discount and this is still moving.


HK property market down only 1.6% last month
http://hk.centadata.com/cci/cci.htm
I track HK property market very closely, and so for only one firesale of 6% below market price. and still so many good properties breaking new high,

China is instrumenting a softlanding now. It is better for longer term.

show ur facts and figures first u can earn your respect here.
Else, ur just another rubbish here

all what I said & quoted are fact & real, all of you shout & attacked, then you should go & find out yourself, no point for me to waste time...below is some example for last 2 weeks in HK...

深灣軒3座極高層相連戶　劈價250萬元，售1,150萬元，呎價8,673元，連使費料近平手...>15%..

美孚新邨4期百老滙街113號極低層B室　售435萬元，呎價4,871元，呎價再跌穿5,000元...>10%...

二手樓市疲弱，連港島藍籌屋苑亦被「攻陷」；北角樓王城市花園剛錄一宗額外印花稅實施前入市仍損手個案，料為措施後首宗同類個案，單位累減百萬元，售約820萬元，連同使費等料蝕約20萬元

樓市陰霾影響至部分豪宅新盤，一名持有兩幢上水天巒洋房的內地業主，見成交期屆近，加上之前願帳面平手離場亦未能出貨，近日終以約1,850萬元「摸出」其中一幢洋房，較去年額外印花稅前購入價低逾200萬元，連釐印及佣金等開支，持貨僅一年料勁蝕逾300萬元。


above just some example within 1 mins of time, all down 10-20%....there is thousands of such cases in HK in last 1 months....go & find yourself such real caes....

alreday 3000 negative asset cases report to banks last 1 week in HK...more to come...3-4 banks in HK stop housing loan, not profitable, also liquidity tight, FD for 3 months already 2.4%, how to loan out at 4% for profit, so high riak as price keep coming down.....

[sh]

My view is price change could vary between 0% to -5% in 2012 from the level in Oct 2011. The basis for my projection are the following factors:

Driving forces for price increase:
1. MRT expansion (partially factored in)
2. JLD and MBFD investment (partially factored in)
3. Constant low interest rate (factored in)

Driving forces for price decrease:
1. More BTOs, ECs and DBSS (partially factored in)
2. Surge in condos TOP (to be factored in from 2012)
3. Weaker demand for goods and services (to be factored in from 2012)
4. More retrenchment (to be factored in from 2012)
5. Prolonged inflation (to be factored in from 2012)

Prolonged inflation should be driving price increase right

[hyenergix]

Prolonged inflation should be driving price increase right

Inflation in food, energy and transport eats away the disposable income and save-able part of the income that can go into properties. Unless the inflation drives up pte property rental, which from the recent reports, is starting to fall.

[basic]

some example in Shanghai, Sina is respectable website...if you walk in shanghai streets now, tons of distributing brouchure of property cutting price from 20-30%...just go & google, when car drive into showflat in Shanghai last week, tenth of property agents rush to chase after the moving car to promote their discount....developers ask buyers to come to view midnight till 3am to view & sign for special discount to avoid those bought earlier to create trouble...all kinds of hide & seek to dump property at low cost....

Price now is going back to 2009 price....

变相降价楼盘增多 沪六楼盘领降最高达42%

http://sh.house.sina.com.cn 2011年10月27日15:01 新浪房产


　　新浪乐居讯(编辑 徐佳)继龙湖、绿地、中海之后，越来越多的房企正前仆后继投身降价大潮。
　　据新浪乐居楼盘中心统计显示，截止10月25日，目前上海降价幅度最大的楼盘有6个，分别为：绿地秋霞坊、中海御景熙岸、新里米兰公寓、香溢花城、长泰西郊别墅、保利叶上海，其中一楼盘降价幅度最高达到42%。另外，目前上海新开楼盘中，其报价普遍低于周边同质楼盘价格，幅度最高达24%。





一线城市楼市频现退房现象 房价拐点正逐步来临

http://sh.house.sina.com.cn 2011年10月28日08:01 新华网


　　(记者 罗宇凡 刘德炳 叶锋)与过去两年“金九银十”的买房潮景象不同，今年秋天的楼市则频现“退房”现象。杭州一次性退房505套余波未平，上海开发商的降价行为又引发了业主强烈不满，北京楼市也在遭遇退房的考验……随着楼市调控继续在全国发力，房价下行压力逐渐增大，这让开发商十分纠结：降价，才能求售回笼资金


温家宝：继续严格执行楼市调控

http://sh.house.sina.com.cn 2011年10月30日07:59 重庆商报


　　据新华社电 国务院总理温家宝29日主持召开国务院常务会议，分析当前经济形势，部署近期经济工作。

[hyenergix]

Only factors (1) MRT and (2) JLD and MBFD will continue to drive up prices and continue to sell. The rest have a good chance of falling into the 0% to -5% category.

[devilplate]

Foreigner cant buy china ppty rite?

I m keen leh

[sh]

Foreigner cant buy china ppty rite?

I m keen leh

when they let foreigners back in....

Things must be really ugly....