EXECUTIVE APT IN PASIR RIS ONLY $540k

[Werther]

I was shocked with my relative told me their flat is now valued ard $540k.., size 1700 sq ft... It used to be $700+k..

Why has price has gone down so much?

[princess_morbucks]

You can go check the latest transacted price here :

http://services2.hdb.gov.sg/webapp/B...3SSearchWidget

[Thermofisher]

Fire sales now????

[Arcachon]

My 5 room HDB already SGD 640,000.

[Arcachon]

Block
Street Name
Storey
Floor Area (sqm) /
Flat Model
Lease
Commence
Date
Resale
Price
Resale
Registration
Date
605 Elias Rd 04 to 06 154.00
Apartment 1995 $650,000.00 Sep 2014
649 Pasir Ris Dr 10 04 to 06 146.00
Apartment 1995 $598,000.00 Sep 2014
158 Pasir Ris St 13 04 to 06 152.00
Apartment 1995 $558,000.00 Sep 2014
267 Pasir Ris St 21 01 to 03 146.00
Apartment 1994 $520,000.00 Sep 2014
268 Pasir Ris St 21 01 to 03 146.00
Apartment 1994 $526,000.00 Sep 2014
506 Pasir Ris St 52 01 to 03 146.00
Apartment 1993 $505,888.00 Sep 2014
507 Pasir Ris St 52 07 to 09 145.00
Apartment 1993 $640,000.00 Sep 2014
585 Pasir Ris St 53 07 to 09 146.00
Maisonette 1995 $750,088.00 Sep 2014
779 Pasir Ris St 71 01 to 03 142.00
Apartment 1996 $610,000.00 Sep 2014
711 Pasir Ris St 72 10 to 12 145.00
Maisonette 1996 $691,000.00 Sep 2014
715 Pasir Ris St 72 01 to 03 146.00
Apartment 1996 $590,000.00 Sep 2014

[Arcachon]

[Werther]

Think may my relative flat is at block 205 range... So one unit is transacted in August for $540k... Why so cheap there? Anyone knows

[Werther]

Hi bro Arcachon

Maybe yr flat in more central location, isit? This why the value is higher. But I though pasir RIS is not too bad, near the seaside.

[minority]

I was shocked with my relative told me their flat is now valued ard $540k.., size 1700 sq ft... It used to be $700+k..

Why has price has gone down so much?

aint that what peopel want CHEAP HOUSEING. so should make the hdb cheap! coz they say HDB is a home not a assest!

[Arcachon]

Hi bro Arcachon

Maybe yr flat in more central location, isit? This why the value is higher. But I though pasir RIS is not too bad, near the seaside.

It used to be call outer urban in the old days.

HDB valuation in the old days value according to inner urban, outer urban, suburban, outer suburban and new town being the cheapest.

[richwang]

PRs are banned from buying re-sale HDB for 3 years.
Citizens have so many other choices: EC is selling at S$600K/700K. That will put a cap on "old" re-sale HDB.

[Arcachon]

27 Aug 2013. http://www.straitstimes.com/breaking...-flats-2013082

27 Aug 2014,27 Aug 2015,27 Aug 2016. You should know when to sell your HDB should you need to.

Most PR also don't buy HDB immediately becoming PR, I have a tenants only want 1 years lease because they are buying HDB after 1 years later.


http://www.teoalida.com/

Will prices drop?
Analysts predicted that the prices in Singapore will start dropping in 2012 (example), as they predicted in 2011, 2010 too. In my forecast, resale flat prices will NOT fall even in 2012, the growth will be slowed down as COV felt a little, but will continue to grow for as many years as HDB refuse to build ahead of demand, forcing us to wait 4 years via BTO!
The cooling measures from 2011 such as Minimum Occupation Period of 5 years, just make people angry as they can sell their flats only after 9 years after applying for BTO. Stupid MOP cause less flats to enter resale market in the coming years, the number of people not eligible for buying directly from HDB (for example PR) is growing.
Most of BTOs launched in the 3 years 2009, 2010, 2011 will be completed in only 2 years 2013-2014… ~ 40000 flats to be completed in 2014 alone + 5 years MOP = this may lead to a market crash in 2019. I am not saying that prices will not start to fall earlier, but the biggest price fall can be in 2019.
Note: The above text was written by my personal research at end of 2011. Later I found a similar research on h88.com.sg dating from Feb 2012, that confirm my hypothesis They say that prices will drop no sooner than 2017! Oh dear…
During 2014, prices are likely to be stagnant. I estimate max 1-2% fall or rise per quarter. Usually the biggest chance to rise is in Q2 and Q3.
Multiple cooling measures, such as 3 year waiting period for permanent residents to buy resale flats have created fear that the housing market may crash. I don’t think that PR have big impact on prices, AND there’s one more reason for prices to RISE in 2013-2015: few new flats will enter resale market because HDB increased minimum occupation period in 2010 from 3 to 5 years.
Prices dropped with 0.7% in Q3 Q3 and 1.3% in Q4 2013 (first drop in 5 years). Such minor drop in prices may cause panic, if many people put their flats for sale in a short period of time, this may trigger a chain reaction in price drop, OR if the panic may be just temporarily and prices may rise back in 2014… in the same time HDB may invent new cooling measures to prevent this. HDB can also invent anti-cooling measures in case prices drop with more than 10% in one year.
1.5% fall in Q1 2014. I predict that the following quarter will have max 1% drop or rise.
For more exact predictions, we need to know how much % of the resale flat buyers are PR or singles (ineligible for new flats), and how many are eligible for buying directly from HDB but choose to buy resale flats for whatever reason (waiting time for BTO, unsuccessful applications, small size of new flats, etc).
Many people blame the PR, but in my opinion they are just a small insignificant percentage. From my personal experience in chatting with website visitors, many people apply only for popular BTO projects that always get oversubscribed, fail to get a good queue number, then decide to go on resale market. I met also rich people who don’t care paying $100K COV to get a good flat.
Some (how many?) BTO buyers sell their existing flats as soon they get the keys of BTO. This helps increasing supply of resale flats before 2019, the year when many flats will fulfill MOP.
New BTO flat prices won’t fall accordingly resale prices, they were traditionally priced 20% cheaper than resale prices, but since 2011 were “de-linked” and priced 30% cheaper (even if we exclude grants for first timers) as the HDB anticipated price fall. even if the prices fall 10% for 3 consecutive years, BTO buyers will still have profit from selling their flats. This does not apply for DBSS flats which were overpriced.

[Arcachon]

http://www.btinvest.com.sg/system/bt...df/pg14-15.pdf