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Thread: Only 5 percent say they are buying now: Property survey

  1. #61
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    Oct 2013
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    Quote Originally Posted by Yuki View Post
    Your strategy is building up cashflow.I read that in many investment books. They also advocate not selling.but one must have enough reserves to tide through Rough times. But what if banks call for top ups when the valuation drops? Could u elaborate the point in bold?
    I think even in the dark days of 1997, no banks requested for top ups. The problem cases were those who cant service their loans. Anyway SG has a min 20% safety buffer for you to play around with.

    That said, there are some dangerous assumptions in the book, such as doubling of property prices every 10 years, re-mortgaging existing property & using the proceeds to buy another property, and borrowing from family and friends to fund property purchases.......

    Esp on the doubling of property prices in SG. How likely is it that in 2024, Jurong Gateway condo prices will reach S$3k psf? Or Woodlands condo to reach $2k psf in 2024?

  2. #62
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    Quote Originally Posted by Kelonguni View Post
    In this thread it is 5% versus 95%?
    If this survey was carried out in 2011, probably 95% would want to buy and 5% would not buy. So in 2011, many follow the herd to buy and now get stuck with their inflated assets. The 5% who did not buy could well be the winner later on.

    So now year 2014 is the reverse, 95% has no plan to buy and only 5% want to buy. So should one follow the herd not to buy or follow the 5% to buy now and hope to be a winner later on?

    DPM Therman already said that "prices have not corrected to meaningful level" meaning that this is just the start of the correction. Follow the herd now may be right but know when to disband with them and make that call. Because of fear and greed, not many people will get it right when the time to make that call comes around and again 80% will miss the boat. This is how things work.

  3. #63
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    Jun 2014
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    in my humble opinion, the desired correction should aim towards below (presume an avg 3bedder 1200sqft unit)

    sengkang/punggol/jurong/yishun etc <1000psf
    amk/bishan/redhill/katong/siglap/westcoast etc 1300-1400psf
    rivervalley/sophia/bugis etc 1600-1700psf
    orchard/somerset/marinabay/shentonway/keppel etc >1800psf
    sentosa >1500psf

    *disclaimer : taken with a pinch of salt

  4. #64
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    Quote Originally Posted by AssetRichMoneyPoor View Post
    in my humble opinion, the desired correction should aim towards below (presume an avg 3bedder 1200sqft unit)

    sengkang/punggol/jurong/yishun etc <1000psf
    amk/bishan/redhill/katong/siglap/westcoast etc 1300-1400psf
    rivervalley/sophia/bugis etc 1600-1700psf
    orchard/somerset/marinabay/shentonway/keppel etc >1800psf
    sentosa >1500psf

    *disclaimer : taken with a pinch of salt
    put down as CCR,OCR,RCR psf will be clearer to all..

  5. #65
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    Jun 2014
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    Quote Originally Posted by jwong71 View Post
    put down as CCR,OCR,RCR psf will be clearer to all..
    I personally don't like the CCR/RCR/OCR categorization as some are very debatable. I prefer to look at specific area itself.

    Btw there was an error on my part. Sentosa <1500psf

  6. #66
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    Quote Originally Posted by chestnut View Post
    Ok.... Don't buy.... Trust the 95%. You won't go wrong.... Remember, follow the herd....

    When everyone don't buy, please don't buy....

    ������������
    Actually many in the herd want to buy but the costs and the CMs made it out of reach for them.

    The survey honestly does appear biased as well. 5% saying they are buying NOW could also mean that another 15-25% intending to buy in the next three years, just not now.
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

  7. #67
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    Yah lar, the survey is very biased... many friends in my group can easily afford a 3rd or 4th property.. but to pay additional 10% ABSD.. how to swallow?

  8. #68
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    Quote Originally Posted by AssetRichMoneyPoor View Post
    I personally don't like the CCR/RCR/OCR categorization as some are very debatable. I prefer to look at specific area itself.

    Btw there was an error on my part. Sentosa <1500psf
    Stop throwing darts in the dark.
    "Never argue with an idiot, or he will drag you down to his level and beat you with experience."

  9. #69
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    Jun 2014
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    Quote Originally Posted by Ringo33 View Post
    Stop throwing darts in the dark.
    Poser, still waiting for your reply in lakeville & jgate threads.
    Feign ignorance as usual after created an upheaval in the west.

  10. #70
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