If you really have to get a property now for own occupation,then it is safer to go for new HDB or new Executive Condo or even private condo.
Now, look at the landed prices objectively now. Many terraces in strange locations of approx 1000 sqft but rebuilt up to the max plot ratio of around 2000 over sqft .These are now asking for S$3M or more. Would buyers with budget of S$3M want to buy these, since buyers with that kind of budget are sophiscated and discerning investors? If they have S$3Million budget, they would rather build their own landed with their own design and taste on lower ratio.
"As long as you have not realised your property profits or cannot realise your property profits; THEY ARE NOT PROFITS. They are merely an illusion in your mind."
- Wise Words by BJ21T
I can also say my Nassim bungalow is worth S$100Million. But as long as there are no takers, it remains an unrealised dream. I only needs one of my neighbors to sell his at S$5 Million to sabotage me.
The underlying fear I have is this : Do we wish to have landed all owned by "New" Singaporeans instead of locally born Singaporeans eventually in the future ?
I have no issues if they go buy up all the condos or 99 years cluster TOWN houses. BUT LANDED is a Special class of property reserved for TRUE SINGAPOREANS ONLY. Singaporeans who are willing to fight for the country. Until the new ones can prove themselves, I would reserve my landed for myself and brothers here thank you.
If landed is not an important aspect of POLITICS, why do Australia, Malaysia, India, and even some states in USA restrict buying of lands ?
One suggestion I have is to allow only second generation of "New" Singaporeans to buy landed. Or if the second generation is NOT born here, they have to wait for their locally BORN grandchildren to buy it for them. KEY WORD here is locally born of this land Or better still: TO HAVE SERVED NATIONAL SERVICE IN SAF .
The thing I AM NERVOUS ABOUT IS WHEN high property prices is NOT substainable. Substainable in the perspective of LOCALLY BORN SINGAPOREAN and with regards to their financial fairness.
It must be attainable to the local Singaporean WHOM had worked hard for their SGD and be able to buy a proper landed at the level of their next upgrade in the social life/class ladder.
IF HOWEVER, the landed prices are artifically inflated due to some person(s) who HAS no concept of the value of SGD ( IMAGINE USING PURE CASH TO BUY A PROPERTY ! ), then the landed price will reach a stage BEYOND the locally born Singaporean who are climbing this social ladder.SINCE there exist this disparity gap in Wealth level and perception of value of money between the PRC and local Singaporean.
IF local Singaporean cannot afford landed, then logically these landed will eventually ended up in the hands of "NEW" Singaporean if you know what I mean. The landed will hence be passed around among this group of people ONLY.Hence creating an unfairness in the economic system.
I hope our MIW look into new companies ( Hanyu Pinyin sounding Names ) set up with the sole intention to acquire huge plot of private landed from private owners here.
Better find out who are the shareholders composition.This is very easily done by sending staff to look and record all the sign boards placed outside the reconstructing sites.
Thank You.