Senior
Firesale season coming?
Coincidentally I also heard the 10-15% drop from someone who is in property development.
DBS CEO Piyush Gupta on Friday said he expects residential property prices in Singapore to fall 10 to 15 per cent this year but will not have a material impact on the bank's earnings.
"Never argue with an idiot, or he will drag you down to his level and beat you with experience."
Blue blood
Similar thread here.
http://forums.condosingapore.com/showthread.php?t=20449
Junior
With gdp revision upwards, i do not expect 10% drop. More likely 0-5% decline.
Senior
Music of the night
it could be just a signal that he (Gupta) tried to send to the garmen to reverse some cooling measures, just not as direct as Mr Kwek
Ride at your own risk !!!
Newbie
Gupta says stress test shows that DBS can afford a reduction of property prices up to 30%.
A signal to Govt that property measures can continue.
Newbie
A number of developers and property consultants and now even bankers have raised concerns to the government on the state of the property market given the cooling measures.
If Kwek Leng Beng shouts " Bay Ta Han liao ", you can imagine how many small developers have already choke.
Junior
Delink of condo and hdb will start soon. Time to remove some cm for condo.
Newbie
Be smart. Sell and recognise profit. Do your own research and you'll know what to do
ipropertyguru
Sell to you at firesale huh? Missed the boat previously?Originally Posted by JuzMe
Global recession is coming....
Already told you all property market going to crash already loh!
Now they start predicting 10-15% (if without the relaxation of TDSR will be 20-30%!)
Senior
sorry since when did you tell us the all property market going to crash?Already told you all property market going to crash already loh!
Now they start predicting 10-15% (if without the relaxation of TDSR will be 20-30%!)
last week? what sort of crash? 10%? 20%? 30%?
"Never argue with an idiot, or he will drag you down to his level and beat you with experience."
Global recession is coming....
Please search for my post and you know!
Don't need me to feed you the fish right since everything in this forum in black and white?
I don't like repeating myself, even though I am old and may be forgetful.
The fact that you can keep repeating and repeating the same thing non-stop seems to tell me that you are already senile?
Senior
Cannot find leh. What I get are mostly on air pollutions. Mai wayang lahPlease search for my post and you know!
Don't need me to feed you the fish right since everything in this forum in black and white?
I don't like repeating myself, even though I am old and may be forgetful.
The fact that you can keep repeating and repeating the same thing non-stop seems to tell me that you are already senile?
"Never argue with an idiot, or he will drag you down to his level and beat you with experience."
Newbie
Seems like it is already happening. E.g. La Fiesta launch at 12xx to 13xx psf for one-bedder and all sold out on first day of launch. Now River Trees/ River Bank launching about 10xx to 12xx. Seems like already 8-25% price drop. No wonder the property gurus are advocating now is a good time to go in despite the absd............
Global recession is coming....
Must compare apple to apple lah.
Last time give hardwood flooring bedrooms, now new launch only give laminates.
Last time still have marble flooring or good quality homogeneous tiles in living room, now only cheap tiles!
Last time good quality appliances and materials, now no-brand cheapo quickly spoilt appliances and materials!
Senior
Senior
Like comparing Paterson Residence to J Gateway ??
mai kong jiao wei lah.
"Never argue with an idiot, or he will drag you down to his level and beat you with experience."
Blue blood
Really cannot compare liddat la.
Riverbank (UOL) and Rivertrees (Fraser consortium) are near LRT, but La fiesta is near MRT.
If you been down to Riverbank, you will notice that the finishes are laminate for the bedrooms and living area is porcelain flooring. These are budget type of finishes and that's why they can be priced lower, which would be better as investment property.
一分钱一分货。
Property Investor
If dbs makes announcement for their prediction to be 10-15% drop, it is not hard to think the drop can be much more worse than that becos they are conservative too.
Probably mega firesale in 2016 after a series of smaller fire breakout first?
Newbie
With govt curb on buyers spending power and rise in interest rate.. Developer n sellers will be pressured to sell.
Blue blood
You could be right about the DBS ceo announcement!
When I first read it, I was wondering if it was functioning as a mouth piece from a reliable source.
All these years, there have been people shouting crash but it hasn't happen, so maybe now the time is really coming and need someone reliable to relay the message?
Property Investor
Perhaps dbs want to say indirectly to govt, lets cut tdsr?
see hdb resale price index 2013 http://www.propertyrichesprogram.com/blog/hdb-resale-price-index/.
The difference between many people shouted abt market crash 2-3yrs back n now is the real gov official statistics shows the tipping down .
See ura property price index as well.
http://www.propertyrichesprogram.com...y-price-index/
Stats will never lie or speculate.
Junior
Bursting Harry Dent’s own bubble
Saturday, 15 February 2014
Home
The recent predictions by US economist Harry Dent, claiming that Australia’s ‘property bubble’ is going to burst and that prices will be slashed by half, is somewhat an extreme view. Though it pays to be aware of these economists and the alarming claims, which pop up from time to time, it pays more to check the data they are providing as proof.
Dent is saying that US real estate prices will fall by 60 to 65%, Australia by 50% and that stock markets and China will crash – heralding a new ‘Great Depression’. But his claims don’t appear to be based on any data – there are little to no facts supporting that we are in for a depression.
Dent offers up no hard explanation for his predictions, apart from the income to house price ratio, and this is very high in a lot of cities where people want to live such as Sydney, Melbourne, San Francisco, Los Angeles, New York, Auckland and London. The reality in these places, is that there are rising populations and limited supply of housing in their most popular areas.
The ratios are of course much lower in less high-demand areas where there is slower growth, or where populations and prices drop when an industry such as mining or manufacturing goes into decline. Big cities however, are much more insulated as they have many economic strings to their bows.
If anything, Australian markets are getting stronger.
While residential property in many of our capital cities could now be deemed borderline ‘unaffordable’, I would contend that because a market has an asset that is somewhat unaffordable does not mean that it is overvalued.
Value is after all a function of the preparedness of a buyer to pay a price for the asset based on its unique attributes and its scarcity. So, while there are buyers at the current price, it is not overvalued.
Australian capital cities are unique in that our populations are generally concentrated in them. And, due to the cost of providing infrastructure to new land areas, our cities do not easily provide supply. Populations in Australia are growing and hence there is always some level of demand for housing assets.
Unaffordability is generally a measure based on the capacity of a median family to be a first home owner. There are many buyer types in a market, including investors and existing home owners.
An unaffordable market simply causes the type of buyers in the market who are active to change.
An unaffordable market for the first home owner simply causes a higher level of families to rent.
A population in an unaffordable market finds solutions to making a market affordable. For example, they may increase people density per dwelling, or alter the size of dwellings to reduce costs. They don't tend to sell into the market because it is unaffordable unless they have to as a consequence of unemployment or similar income failure.
But this point is the important issue: whilst there is no significant oversupply due to selling pressure or development of new properties, the increasing population will hold demand at current values and consequently our property markets will not be overvalued – and therefore we are not experiencing a bubble.
To be honest, I am not hugely surprised that Dent predicted the GFC (if this is actually true) as his predictions do seem to follow a similar theme. As with many economist naysayers, one would have to be right about something sooner or later – it’s a bit like predicting a dice will throw a six, if you keep throwing of course it will.
What I would suggest for buyers is to take a long term approach based on the data. Work on the basis that economic growth and prices trend higher and higher over time, and although it may be interrupted by recessions and other negatives, the general theme is up.
It’s important to be on top of these sorts of startling predictions – but take them with a certain level of cynicism.
John Edwards is*consulting analyst for Onthehouse.com.au and founder of Residex.
Newbie
Flip through classified today.. drop of 10 to 20% just a matter of how soon.
Valued Contributor
I think this is the 5th consecutive year I am seeing this nonsense since 2010 and the 755 times I am seeing the same old crap.
Senior
Firesale already started, its just you are not looking hard enough because you are not in the market for property.
"Never argue with an idiot, or he will drag you down to his level and beat you with experience."
Newbie
Wait till developer run out of justification for lower price, later to admit they are just selling lower to match the low market pricing.
They all knew the important of sustaining the high pricing, to ensure all to "huat" for years, and was battling with gov since 1st rounds CM... Now realise they can't win, acting victim and asking for help...
Last edited by walkthetiger; 15-02-14 at 12:42.
A bottle of Lafite '82 for all my coffeeshop friends yesterday...many don't know what is it....haha...
Newbie
No wonder even the exterior looks not much difference from BTO or DBSS. Lucky got fencing to at least know it"s private. Even the fencing now most use cheapo type- std wire mesh type.Must compare apple to apple lah.
Last time give hardwood flooring bedrooms, now new launch only give laminates.
Last time still have marble flooring or good quality homogeneous tiles in living room, now only cheap tiles!
Last time good quality appliances and materials, now no-brand cheapo quickly spoilt appliances and materials!
now buy pc must get them specify what the of fence provided, ...he he;-)
Is it cut cost because of low profit or out to squeeze more profit?
Global recession is coming....
Wow, mega firsale in 2016!
Since most citizens (>90%) own properties, how will the GE-2016 turn out to be? You think most citizens prefer property market to crash?
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