CMs may be bad for buyers who procrastinate

**phantom_opera** · 30-01-13, 04:51

1990-1996 ... prop price index up 4x and subsquently we have a crash in 1997 that see property price halved

Imagine this ... 200psf to 800psf and come back to 400psf

But market remains weak at that level for many more years, presenting prolonged excellent buying opportunities

This time, CM is introduecd at least once a year, sometimes twice ... OCR psf up from 600psf to 1200psf only

That only mean any correction is shallow with limited time window... 5% for 3 months after each CM? ... if there is even a minor correction .. this time price will see sustained increase of about 4% pa (same as inflation rate) ...sustained increase in immigrants to boost GDP by 1-2% and 2% GDP growth will ensure we have 3-4% GDP growth pa to sustain that

First time buyers ... bite the bullets and move on

SP500 will go outside of parabolic upperbound or correct??

**phantom_opera** · 30-01-13, 05:03

see this, choose 2001-now

tick NZ, AU, SG, HK, CN, Canada ... SG is right at the bottom lol

http://www.economist.com/blogs/freee...l_house_prices

**chiaberry** · 30-01-13, 06:22

Originally Posted by phantom_opera

SP500 will go outside of parabolic upperbound or correct??

No wonder the unit trusts I bought on regular savings plan to fund my kid's education suddenly look like they will hit target

**roly8** · 30-01-13, 06:33

doesn't matter lah..

you want quality of life or just looking at your bricks to feel happy everyday?

**phantom_opera** · 30-01-13, 07:15

Originally Posted by roly8

doesn't matter lah..

you want quality of life or just looking at your bricks to feel happy everyday?

How u define quality of life in Sg ??

**Shanhz** · 30-01-13, 07:23

the bears will say, this is another bull thread.

**nav14** · 30-01-13, 07:48

After the PE by-election results, I am sure prices are not going northwards until the next elections, regardless of how well the economy is doing. So the window of opportunity should be open for a few years as far as prices are concerned.
The only worry is that the future CMs, which there will be more to come, will make it increasingly more difficult for first time buyers to get into the private property market.

**thomastansb** · 30-01-13, 09:50

First timers they don't really restrain you. But looks like Government is hitting hard on those who are buying 2nd property. 7% ABSD

Originally Posted by nav14

After the PE by-election results, I am sure prices are not going northwards until the next elections, regardless of how well the economy is doing. So the window of opportunity should be open for a few years as far as prices are concerned.
The only worry is that the future CMs, which there will be more to come, will make it increasingly more difficult for first time buyers to get into the private property market.

**sgbuyer** · 30-01-13, 10:08

Originally Posted by thomastansb

First timers they don't really restrain you. But looks like Government is hitting hard on those who are buying 2nd property. 7% ABSD

If this doesn't work, maybe next round will be 7% ABSD (on purchase) + 5% ABSD every year for next 10 years.

**focus** · 30-01-13, 11:03

2nd property ..PAY FULL CASH.

Demand reduced by at least 50%.

Problem solved. hehe

**chiaberry** · 30-01-13, 11:22

Originally Posted by sgbuyer

If this doesn't work, maybe next round will be 7% ABSD (on purchase) + 5% ABSD every year for next 10 years.

Any more harsh measures to increase ABSD and they may LOSE the next GE. Cannot go on shoving more and more $$$ into their own pockets. Singaporeans' dreams of owning 2nd property to help fund their retirement also going down the drain.

3C · 30-01-13, 11:36

Originally Posted by chiaberry

Any more harsh measures to increase ABSD and they may LOSE the next GE. Cannot go on shoving more and more $$$ into their own pockets. Singaporeans' dreams of owning 2nd property to help fund their retirement also going down the drain.

ABSD aside, I think the govt is trying to stop or slow the run away prices so as to help the first time buyers or those who can afford. This is their priority now. Owning 2nd home may be of lower priority for them now. So be objective and we should not be just thinking for our self interest. Govt cannot be pleasing everyone and they have to also think for all.

**august** · 30-01-13, 11:45

Originally Posted by chiaberry

Any more harsh measures to increase ABSD and they may LOSE the next GE. Cannot go on shoving more and more $$$ into their own pockets. Singaporeans' dreams of owning 2nd property to help fund their retirement also going down the drain.

actually the repercussions of failing to rein in prices will be greater.

i thought it is now very clear their determination to do so until 2016.

**buttercarp** · 30-01-13, 12:46

I wonder how many SC (before this latest CM) did not aspire to own second property due to financial reasons.

Are they the majority of SC?
If they are, then this CM should not have affected the majority of SC.
In fact this CM will help the first timer.

**minority** · 30-01-13, 13:39

Originally Posted by chiaberry

Any more harsh measures to increase ABSD and they may LOSE the next GE. Cannot go on shoving more and more $$$ into their own pockets. Singaporeans' dreams of owning 2nd property to help fund their retirement also going down the drain.

Well the scream from the minority is no house for them and the rush for 2nd home is supporting the prices. not dropping for those so called need a house to stay.

so now is open the door for them. but if they dont bite. nothing can help anyway. window of opportunity is open . Those who already a roof dont complain. want price to drop so can buy cheap? U already have u bite give the those who need a chance. Thats what the government is trying to say.

**minority** · 30-01-13, 13:41

Originally Posted by buttercarp

I wonder how many SC (before this latest CM) did not aspire to own second property due to financial reasons.

Are they the majority of SC?
If they are, then this CM should not have affected the majority of SC.
In fact this CM will help the first timer.

Well look at le fisata 80-90%% are singaporean citizen and looking at the rush b4 the CM7. those are all looking for 2nd or 3rd unit.

**chiaberry** · 30-01-13, 13:50

Originally Posted by august

actually the repercussions of failing to rein in prices will be greater.

i thought it is now very clear their determination to do so until 2016.

Then lower the LTV further for 2nd property and above. Rather than increasing the ABSD.

Hopefully this CM7 will help the first timers and moderate the prices bid by developers for GLS. However, this may not translate to lower prices for the new launches.

**taggy** · 30-01-13, 14:22

Originally Posted by chiaberry

Hopefully this CM7 will help the first timers and moderate the prices bid by developers for GLS. However, this may not translate to lower prices for the new launches.

actually i think for existing hdb owner who want to upgrade, should not miss the chance now as well, since the 7% absd can be claimed back upon selling of the hdb.... cos this is the time where price slow down
- buy resale condo, so that 7% can be claim back fast
- or buy new launch, where later then choose to retain hdb or sell hdb to claim back 7% absd

**radha08** · 30-01-13, 14:47

Originally Posted by buttercarp

I wonder how many SC (before this latest CM) did not aspire to own second property due to financial reasons.

Are they the majority of SC?
If they are, then this CM should not have affected the majority of SC.
In fact this CM will help the first timer.

frankly speaking i was one of them...if i never bite the bullet a few mths ago today i also...

but today i still

...cos my condo still building....wish i bought resale...haiya typical sc...never happy

**radha08** · 30-01-13, 14:49

Originally Posted by taggy

actually i think for existing hdb owner who want to upgrade, should not miss the chance now as well, since the 7% absd can be claimed back upon selling of the hdb.... cos this is the time where price slow down
- buy resale condo, so that 7% can be claim back fast
- or buy new launch, where later then choose to retain hdb or sell hdb to claim back 7% absd

my sincere advice to hdb owner who can afford to buy 2nd property...die die dont sell ur hdb if u can afford to buy pc and own hdb...u will regret deep deep...

**chiaberry** · 30-01-13, 15:11

Originally Posted by radha08

frankly speaking i was one of them...if i never bite the bullet a few mths ago today i also...

but today i still

...cos my condo still building....wish i bought resale...haiya typical sc...never happy

YOU have nothing much to complain about. You WIN on 2 counts. First you managed to secure a 2nd property without a punitive ABSD whilst retaining your HDB flat. Secondly you managed to get a decent size PES for your doggies, fish and whatever else menagerie in your household before the clamp down on PES. Aren't you GLAD you are a regular on condosingapore, therefore inspired to take action before having to join the MTB gang?

**radha08** · 30-01-13, 19:50

Originally Posted by chiaberry

YOU have nothing much to complain about. You WIN on 2 counts. First you managed to secure a 2nd property without a punitive ABSD whilst retaining your HDB flat. Secondly you managed to get a decent size PES for your doggies, fish and whatever else menagerie in your household before the clamp down on PES. Aren't you GLAD you are a regular on condosingapore, therefore inspired to take action before having to join the MTB gang?

u forget third i am a sc...got also not happy dont have also not happy...wahaha....ya la i know contentment is priceless just be happy with what we have some have more some have less...thats life...

**Werther** · 30-01-13, 20:07

Hi Radha

You are the best! U bought yr second pty before this cm7 came about. Now I also don't know buy or don't buy or rather cannot buy with loan and additional stamp duty. Sigh.

sad lah

**newbie11** · 30-01-13, 20:34

Originally Posted by Werther

Hi Radha

You are the best! U bought yr second pty before this cm7 came about. Now I also don't know buy or don't buy or rather cannot buy with loan and additional stamp duty. Sigh.

sad lah

And this pent up demand will be scary once unleashed

**Shanhz** · 31-01-13, 07:15

Originally Posted by buttercarp

I wonder how many SC (before this latest CM) did not aspire to own second property due to financial reasons.

Are they the majority of SC?
If they are, then this CM should not have affected the majority of SC.
In fact this CM will help the first timer.

before i bot my first PC about 3 yrs ago, i never never ever thought i could ever afford a 2nd ppty. never. and you just never think about it if you think it's not affordable. that was despite few yrs ago, my frens were already talking about buying ppty (but no one could afford lah, we were all in our 20s).

i just woke up one day and something just struck me. for some reason, i started reading up on using CPF, did some homework, calculate my portfolio and miraculously, i realised all along i could afford that 2nd ppty after all.

it was no looking back after that. so i am not surprised. many many SCs never ever tot of getting a 2nd ppty. it was just "for the rich pple lah".

**Shanhz** · 31-01-13, 07:16

Originally Posted by radha08

frankly speaking i was one of them...if i never bite the bullet a few mths ago today i also...

but today i still

...cos my condo still building....wish i bought resale...haiya typical sc...never happy

you one build faster than mine. i largi

**kane** · 31-01-13, 07:35

If its resale then you may complain why this and that isn't brand new. At least a spanking new place awaits you.

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