Lol. Ya. MAS just said too early to lift property curbs. Though no specific development is mentioned, everyone is aware of the hype surrounding highpark and northpark. Even highline first launch was overwhelmingly taken up on preview day. And of course who can forget hillford sold out on launch day, even though it's 60 years lease. So removing CMs? Nah. Can count our blessings already that no new/additional CM coming our way.
True true. With the current supply glut. Government is now tapering the GLS. More land parcels are now put under reserve list and usually it's a hit-and-run issue where the place you like might not have any land parcels that are put up for sale.
https://www.ura.gov.sg/uol/media-roo...n/pr15-30.aspx
So personally, I feel that unless one can afford to wait for many years otherwise if the current finances can already afford a decent unit, should go in already considering that when age catches up, the loan tenure will be shorter and more difficult to get loan.
Buyers happy
Agents happy
Developers happier
Govt happiest
Removal of CM? haha
congrats all the buyer here...I also want to get a unit here, but I already buy another pc recently..miss the chance
my friend also buy a unit in HPR..good price!!!
This is flawed logic. Just because correct guesses were made on two throws of dice doesn't increase the chance of a correct guess on a third throw.
Yes there's history and history has also taught us that there were some who bought at the wrong time. Go check the CCR thread for those who sold at losses. Not to mention some who bought in 1997 who have not broke even.
I'm not against this area but I'm against people who use this line of logic to support their ideas.
You missed the essence of the posting. You need to peruse again carefully. Property investing and purchase is all about reading into the future development of an area and not just history. Also, you do not seemed familiar with this area. Life is not about empty theories or beliefs....but having lived through the 1997, 2003 and 2008 cycles to derive practical perspective on investment and due diligence.
It's not tough to get your essence, that you see potential in the area and others who don't stay there don't.
You don't get my essence that your logic on basing past developments to determine future progress is flawed.. ironically you talk about property investing not about looking at the history and you quote all the past historical prices and data?
How do you know that I don't know about the area? You're being presumptuous here. People who have lived through 1997,2003 and 2008 can still make mistakes, as some have made then. Those who have not may not as they have learnt from mistakes made by others.
Unless you are telling me all those who have made money now must have gone through those eras? It's not a prerequisite in my opinion.
I see two sides of an argument just like 2 sides of a coin. In any property cycle, there are always winners and losers. I know of people who were over-leveraged back in 1997 owning more than 3 properties only to lose it all when they defaulted on their payments. I have also read about people who have the holding power to withstand the turbulence of financial crisis and turn out as winners.
Regardless of the different viewpoints, it all depends on the risk appetite and whether one goes into buying a property for staying or purely for investment with the latter being less risk averse. To me personally, I buy a property for staying and not for investing. Of course, if the capital gains that come along the way many years later will be a bonus, if it doesn't, it's fine as I'm not into flipping the property. Ultimately, what matters is affordability and whether one has a backup plan if all else fails pursuant to the economic climate, the interest rates, etc.
By affordability, I mean to say the prevalent prices around the vicinity as opposed to future prices. This is common sense as nobody can predict the future given that Singapore is subjected to the global economic forces. Is the property much more expensive than those in the nearby area? I believe in comparing apple to apple so I don't do stuff like comparison between CCR vs OCR or vs RCR for that matter as the attributes of the properties are all different. These are the fundamentals to my thinking and I don't believe in paying exorbitant prices upfront in the hopes of capital gains "gold rush" along the way.
By backup plan, I mean if assuming the interest rates increase by 2 percent and mortgage loans are no longer sustainable, does one possess an exit strategy (like a fully-paid HDB flat that can yield rental) or will one be forced into defaulting?
I believe we all know location is key but what is one man's meat is another man's poison. I don't drive so a transportation node such as LRT/MRT is crucial to my well-being as I need to commute to my workplace. Take that away, and I feel the property is not worth buying. That's one of the key considerations when I look into HPR. Aside from that, amenities is another consideration. Supposedly if I want to eat out. Where do I go? Where's the nearest Kopitiam outlet ? Do I have to travel some distance to get there ?
As you all can see, perspectives differ vastly between individuals, home-makers like myself, and last but not least investors. Property cycles are always there, all it matters is whether at the point in time when you entered the market, is it sustainable and thereby affordable? If not, perhaps waiting is better but surely one has more considerations that this. What about age ? It affects loan tenure to a great extent especially for BUC properties. The older one gets, the less amount of $$$ one can loan which translates to coughing out more cash to make-up for it. Can one afford to wait until 50 years old and buy a property? Perhaps yes or maybe no. It depends on the person's cash on hand, his CPF less half of the minimum sum ($80,500) to be put aside and how long is the loan tenure. And even if one gets the loan, how does one service the loan? I know of people who are still searching for their "dream" property and they're almost 50 years of age. Time is running out for them.
High Park Residences @ Fernvale Road D28 Buy Sell Rent - https://www.facebook.com/groups/2106121572780868/