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Thread: Property price is coming down fast

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    Default Property price is coming down fast

    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.

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    Quote Originally Posted by basic
    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.
    really ah? please sell me ur properties at 25% discount, especially those suburban ones next to mrt

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    What is the source of this article? While I know that China property developers are giving 15% to 20% discount and HK property are affected because of China's property scene, I am unsure that developers in Singapore are giving that sort of discount coz its been up up up these past months. Maybe only referring to one or two projects lah... Please verify validity of this report or its just some scam advert by agents?

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    Quote Originally Posted by Allthepies
    really ah? please sell me ur properties at 25% discount, especially those suburban ones next to mrt
    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....

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    Quote Originally Posted by Allthepies
    really ah? please sell me ur properties at 25% discount, especially those suburban ones next to mrt
    I'll be contented with 20% discount!

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    Quote Originally Posted by basic
    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....
    really ah? any 3 bedders caspian or lakeshore or parc oasis or ivory heights or madeira or jade owner going to cut 20% and sell me @ 750k

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    Quote Originally Posted by ysyap
    What is the source of this article? While I know that China property developers are giving 15% to 20% discount and HK property are affected because of China's property scene, I am unsure that developers in Singapore are giving that sort of discount coz its been up up up these past months. Maybe only referring to one or two projects lah... Please verify validity of this report or its just some scam advert by agents?
    google yourself...it's fact...
    Beijing TongZhou city, >15 projects, average down from RMB26000 psm to RMB 13000 now....Shanghai Jiading & many RMB28000 psm to 16500 psm....tons more across china....they all shown in china CCTV programs....

    Spore developers tries to give sweeteners instead of cut price, but many already started...you can go around & try, they will call you day & night to reduce price....

    volume down drastically, price down too....

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    so what you are saying is all those who have only one property should sell and live on the beach otherwise they become fools? So those who live off rental income of $10k a month should just offload their cash cows and live on the beach otherwise they become fools? Who is the fool, the one who is propertyless living on the beach or the one with the property?

    If you know of any property down by 20-50%, please let us know coz we would be interested to buy. I don't mind paying you a commission even though you might not be an agent

    Quote Originally Posted by basic
    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....

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    Quote Originally Posted by basic
    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....
    Well, i am one of the fools who is still keeping

    Which project got 10-20% cheaper? Share share leh.....20% is goodie

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    Quote Originally Posted by Allthepies
    really ah? any 3 bedders caspian or lakeshore or parc oasis or ivory heights or madeira or jade owner going to cut 20% and sell me @ 750k
    I am not agent...go & ask yourself...you will be regret in 1-2 yrs time even you get 20% now....once property triggered by a crisis event, it will be a long road downtrend like 1996/7 to 2006/7 & even longer as this time is global crisis, not asia crisis in 1997...

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    Quote Originally Posted by basic
    google yourself...it's fact...
    Beijing TongZhou city, >15 projects, average down from RMB26000 psm to RMB 13000 now....Shanghai Jiading & many RMB28000 psm to 16500 psm....tons more across china....they all shown in china CCTV programs....

    Spore developers tries to give sweeteners instead of cut price, but many already started...you can go around & try, they will call you day & night to reduce price....

    volume down drastically, price down too....
    China i no comment....

    But in sg, there is no sweeteners as of yesterday bcoz i went to a few showflats and their px is totally non nego.....i told agts tat if px can be neg pls call me....so far no calls at all....

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    Quote Originally Posted by basic
    google yourself...it's fact...
    Beijing TongZhou city, >15 projects, average down from RMB26000 psm to RMB 13000 now....Shanghai Jiading & many RMB28000 psm to 16500 psm....tons more across china....they all shown in china CCTV programs....

    Spore developers tries to give sweeteners instead of cut price, but many already started...you can go around & try, they will call you day & night to reduce price....

    volume down drastically, price down too....
    Agreed about some form of attractive package arranged not by developers but more by agents but certainly not 15% to 20% price cut by developers lah... if you know of any, do share we all of us. Yes we can give u some comm.

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    Quote Originally Posted by Regulators
    so what you are saying is all those who have only one property should sell and live on the beach otherwise they become fools? So those who live off rental income of $10k a month should just offload their cash cows and live on the beach otherwise they become fools? Who is the fool, the one who is propertyless living on the beach or the one with the property?

    If you know of any property down by 20-50%, please let us know coz we would be interested to buy. I don't mind paying you a commission even though you might not be an agent

    time will tell, no need to be so work up...if you think, will continue to up from here, go ahead & borrow if possible....
    Lehman bros bankrupt in 9/2008, 6 months time, 3/2009, spore property price already down 30%....if not bernanke QE1 & China RMB4trillion...you can see once 1 simple Lehman close down, already 30% down in 6 months...
    this time is different, is global & country default....print money is not going to work anymore as QE 1 & 2 already failed...china too, very bad experience, will never repeat same mistake again....

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    Quote Originally Posted by devilplate
    China i no comment....

    But in sg, there is no sweeteners as of yesterday bcoz i went to a few showflats and their px is totally non nego.....i told agts tat if px can be neg pls call me....so far no calls at all....
    definiely there is....if non nego, don't buy...they can't sell too...time is on buyer side, for sure....

    china, HK & spore property are all related....if China & HK down 20-30%, you think got people come here & buy....they will sall here & buy there instead...especially for chinese....
    Last edited by basic; 30-10-11 at 15:26.

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    Quote Originally Posted by ysyap
    Agreed about some form of attractive package arranged not by developers but more by agents but certainly not 15% to 20% price cut by developers lah... if you know of any, do share we all of us. Yes we can give u some comm.

    as I said I am not agent...do your own homework....go east side....

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    Quote Originally Posted by basic
    definiely there is....if non nego, don't buy...they can't sell too...time is on buyer side, for sure....
    Hey jus now u mentioned developers cut 10-20%...

    Gd lobang share share leh

    I am not here to argue wif u whether px will go south anot....pointless....but u got me interested when u mention px oredi cut by 10-20%.....where?!

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    Quote Originally Posted by basic
    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....
    Which project cut by 10-20% below average transacted px?

    Pls dun say asking px drop by 20% hor....wat i want is 20% below average tx px

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    Quote Originally Posted by devilplate
    Hey jus now u mentioned developers cut 10-20%...

    Gd lobang share share leh

    I am not here to argue wif u whether px will go south anot....pointless....but u got me interested when u mention px oredi cut by 10-20%.....where?!
    see above post....
    be patinet or work harder now if you are really keen....property will drop >50% in 2.5 yrs time....$2mil, lose >$1mil, if ok to you, go ahead & grab...

    china, HK & spore property are all related....if China & HK down 20-30% now, you think got people come here to buy....they will sell here & buy there instead...especially for chinese....

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    Bro,

    Let me know if down 50% discount just called agent even ask for 20% discount gana ##%@%.

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    Quote Originally Posted by basic
    I am not agent...go & ask yourself...you will be regret in 1-2 yrs time even you get 20% now....once property triggered by a crisis event, it will be a long road downtrend like 1996/7 to 2006/7 & even longer as this time is global crisis, not asia crisis in 1997...
    You are not property agent, but you can become a successful one if you can recommend us cheap cheap property and then collect commission from us.

    Really, please let us know of any good deals.



    Quote Originally Posted by Regulators
    so what you are saying is all those who have only one property should sell and live on the beach otherwise they become fools? So those who live off rental income of $10k a month should just offload their cash cows and live on the beach otherwise they become fools? Who is the fool, the one who is propertyless living on the beach or the one with the property?

    If you know of any property down by 20-50%, please let us know coz we would be interested to buy. I don't mind paying you a commission even though you might not be an agent
    I'd rather be a fool who lives comfortably in a home, rather than a wise man who sleeps on the beach!

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    Quote Originally Posted by basic
    see above post....
    be patinet or work harder now if you are really keen....property will drop >50% in 2.5 yrs time....$2mil, lose >$1mil, if ok to you, go ahead & grab...

    china, HK & spore property are all related....if China & HK down 20-30% now, you think got people come here to buy....they will sell here & buy there instead...especially for chinese....
    Chey...tok is cheap la

    Hey guys, tons of sellers selling 50% cheaper! But pls search for urself and i m not agt


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    Quote Originally Posted by basic
    I am not agent...go & ask yourself...you will be regret in 1-2 yrs time even you get 20% now....once property triggered by a crisis event, it will be a long road downtrend like 1996/7 to 2006/7 & even longer as this time is global crisis, not asia crisis in 1997...
    dont worry for me, if got units @ 20-25% discount off now, quickly tell me hor, thanks! if 2 years later can get units @ 40% off, I will just grab another few more loh

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    lol joke of the day, tcss.. everyone has its own agenda in this forum, apparently he sees the prices as dropping in the next 2yrs. If the situation is like what he said, dont even need to search, it will be offered right on your plate

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    Quote Originally Posted by devilplate
    Chey...tok is cheap la

    Hey guys, tons of sellers selling 50% cheaper! But pls search for urself and i m not agt

    no need to panic...talk is cheap, really...
    under current global debt crisis time, who will buy illiquid investment like property?? 150,000 out there for sell now...buy now, can sell?? stamp duty, legal, commission....are high....
    you will know soon & hit your heads till shorted like above.....

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    Quote Originally Posted by Allthepies
    dont worry for me, if got units @ 20-25% discount off now, quickly tell me hor, thanks! if 2 years later can get units @ 40% off, I will just grab another few more loh

    worry for you?? nobody so free lah....
    time will tell...go & borrow if you can & grab now, the huat tua tua in 2 yrs time....
    all the happennig is already out there, only blind can't see....

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    Gd la....tok more!

    Better still post at ST forum!

    I am eyeing the bedok residences

    1kpsf i will grab!

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    Quote Originally Posted by basic
    no need to panic...talk is cheap, really...
    under current global debt crisis time, who will buy illiquid investment like property?? 150,000 out there for sell now...buy now, can sell?? stamp duty, legal, commission....are high....
    you will know soon & hit your heads till shorted like above.....
    why u suddenly tok about 1-2 years later? I tot u were toking about now having >15% discount already?

    "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"

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    Quote Originally Posted by devilplate
    Gd la....tok more!

    Better still post at ST forum!

    I am eyeing the bedok residences

    1kpsf i will grab!

    I talk with reason, fact & ionformation....
    unlike most here just shout without based.....

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    This guy is pure bull**** in the making, still remember jdog? Bet wif his dick and disappeared frm he face of the earth. Now at most give stamp duty absorption and furniture vouchers + the standard jack up price abit and give you X% off listed price strategy. Developers balance sheet so strong, already huat big from the last runoff, panic for what? The situation is clearly not as you defined 20% discount.

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    Hey guys....china oredi cut by 50%.... some projects may even sell at land bid prices! Hk oredi drop by 30-50%

    sell sell sell while u can!

    Whahahahah

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