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Thread: Spot the incorrect information and AssUme Data.

  1. #1
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    Default Spot the incorrect information and AssUme Data.

    https://www.propwise.sg/can-develope...n-in-the-game/

    Now is the time to buy new projects?

    The URA data show new private home sales fell 32 percent in March. This was even before the implementation of a circuit breaker on April 7 with compulsory closure of sales galleries. In SRX’s April non-landed private residential flash report, only 309 resale units changed hands in April. That is a whopping 62.2 percent year-on-year drop. According to CEA, we have 30,073 property agents in Singapore as of January 1, 2020. What are the rest of the agents surviving on?

    A spokesperson from Orange Tee & Tie recently told the media that “once the situation stabilizes and safe distancing measures ease, new homes sales will likely pick up when show flats reopen and house viewings resume. The growing economic uncertainties around the world may also propel more investors to seek shelter for safe-haven assets here”. (The Straits Times, April 15, 2020)

    Really? Do you think “new homes sales will likely pick up” after the government relaxes safe distancing measures? When they allowed the bakeries to sell cakes again today, I immediately rushed to buy some this morning. How many of us miss the sales galleries so much that we need to rush to visit the showflats when they reopen again? How many homebuyers or investors will commit to a new private property at this time?

    Do you think investors will “seek shelter for safe-haven assets here”? We investors all know why we should flee for cash and gold as safe havens when the market goes south. Since when did buying uncompleted properties off the plan becomes “safe-haven”, especially with “growing economic uncertainties around the world” and before the onset of a potential full-blown global recession?

    Will foreign investors seek shelter for their money and flock to Singapore to buy properties? Dream on. Even on normal days, the percentage of foreign buyers of Singapore’s private properties barely makes up 6 percent of the total private home buyers. And that humble percentage of foreign buyers does not even exclude non-residents who are considered “foreign buyers” after they have stayed here for long without getting their permanent residency.

    And how could it be possible for foreigners to drop by Singapore to pick up a new private home? From January 31, all Chinese visitors and foreigners with a recent travel history to China have been banned from entering Singapore. From March 23, all short-term visitors from the rest of the world are not allowed to enter or transit through Singapore. How many foreign investors are keen to buy uncompleted projects here after visiting their virtual showflats online?

    People whose survival depends on qualitative “job assessments” by someone of higher rank in an organization cannot be trusted for critical decisions.

    – Nassim Nicholas Taleb, Skin in the Game

    Just meet 5 criteria and you can buy right now

    As a tight budget investor, I don’t want to be pessimistic. But I must be realistic. Taleb said “a foolish gambler is not committing an act of courage, especially if he is risking other people’s funds or has a family to feed”. I can’t have “selfish courage” that can risk my money and impact my family’s wealth.

    When the government lifts the lockdown measures in phases, we are busy reopening our business or protecting our job and a monthly paycheck. If we still have the mood to look for a new home, we must be capable of fitting at least five criteria below:

    1) We have to be 100 percent sure that our employment, business, and investment will not be affected by Covid-19. We have the financial means and holding power even if the worst is yet to come.

    2) Even when prices are to drop further, be it 10, 20, or 50 percent in the coming months or years, we really don’t mind buying now at higher prices – at 10 to 50 percent above the future value.

    3) We are fine buying under the current loan-to-value restrictions, pay 4 percent buyer stamp duty, 12 to 25 percent ABSD, and 4 to 12 percent seller stamp duty when selling within 4 years.

    4) After our purchase, it matters nothing to us whether the government will relax any property cooling measure. We are fine if we don’t get to enjoy any property stimulus measures rolled out by the government when the time is ripe.

    5) We don’t mind developers delaying construction and completion of new projects for six months or even longer. It doesn’t matter if there is no definite deadline to collect the key. We will still pay the downpayment now and progressive payments as scheduled.

    Congratulations if you fit all of the criteria above. Unfortunately, I have to admit that I can’t meet even one of these requirements. I am just an ordinary homebuyer.

    How to ensure developers and agents have skin in the game?

    According to URA, as of 1st quarter 2020, there is a total supply of 48,868 uncompleted private residential units (excluding ECs) in the pipeline with planning approvals. Among them, 29,149 units remained unsold.

    Taleb asked a question in his book: Is it ethical to sell quantities to buyers without informing them that there are large quantities to be sold? Taleb said “an upright trader will not do that to other professional traders”. But it is “sort of permissible to do it to the anonymous market and the faceless non-traders”.

    How much should a developer or property agent reveal to a homebuyer? Is it ethical to sell something to someone knowing the price will eventually drop? Why does the seller always get all the upside while the buyer forever gets the short end of the stick? Does Taleb’s saying “rip them off, don’t tick them off because every day a new customer is born” applicable to the new home sales market?

    Because the person who gives advice, telling you that a certain action on your part is “good for you” while it is also good for him, while the harm to you doesn’t directly affect him.

    – Nassim Nicholas Taleb, Skin in the Game

    When China was under lockdown in the most critical stage to control coronavirus spread in the country, property sales plunged 40 percent. To save new project sales, China’s second-largest property developer Evergrande decided to adopt aggressive promotion. As a result, 99,000 units worth RMB102.7 billion (S$20.5 billion) were sold online just in February. Despite all sales offices being shut, sales surged 118 percent – even higher than a year ago when there was no coronavirus. Evergrande became the top market performer of the month. (Reuters, March 2, 2020)

    I am sure all Singapore developers and property agencies are eager to know how. Let me summarize Evergrande’s successful strategies and possible rationale for everyone’s reference:

    1) 25 percent discount for all properties until the end of the month

    You are afraid that prices will fall after you bought? How deep can they drop? 10 percent? 20 percent? Fine. I am giving you 25 percent off straight away. A 25 percent buffer is fair enough, right? And I am offering it to you right now so you don’t have to wait for any price correction before you buy.

    2) Deposit only RM2,000 and the unit is yours

    You are taken aback by many who lose their jobs and have pay cuts? Cashflow is a problem for you? Fine. You have RMB2,000 (S$400) with you? Transfer it to our bank account now as the deposit to book a unit. You pay nothing until it is ready to collect the key.

    3) Option to cancel with full refund

    You don’t know what will happen next with so many market uncertainties? You may lose your job or your business may have to fold? Fine. If anything happens, you have the option to cancel the deal within 3 months. We will give you a full refund of your RMB2,000. No questions asked.

    4) Buyers get all the upside

    You don’t believe that we are willing to suffer a loss? The deal is too good to be true? Are we afraid of a large number of cancellations, refunds, and returned units? We are a big developer with a very healthy cash flow. With the profits we made over the years, we can surely survive the Covid-19 crisis. Country Garden may be the largest developer. But we are the top developer in terms of putting customers first. During these bad times, we dare to put our skin in the game.

    If any developer in Singapore can match China Evergrande’s offer, I think we can seriously consider buying from their new launch project.

    Yes. I said I am buying.
    The Best Time to buy Property is Yesterday.
    If you lose Money it because you sell on a wrong Day.

    https://wa.me/6587821025

    https://r057844h.propnex.net/

    You don't Buy others will Buy.
    You don't Sell, others will Sell.

  2. #2
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    Default Re: Spot the incorrect information and AssUme Data.

    The URA data show new private home sales fell 32 percent in March. This was even before the implementation of a circuit breaker on April 7 with compulsory closure of sales galleries. In SRX’s April non-landed private residential flash report, only 309 resale units changed hands in April. That is a whopping 62.2 percent year-on-year drop. According to CEA, we have 30,073 property agents in Singapore as of January 1, 2020. What are the rest of the agents surviving on?

    Implementation of a circuit breaker on April 7 with compulsory closure of sales galleries.
    In SRX’s April non-landed private residential flash report, only 309 resale units changed hands in April.

    If you got Pessimism "Is the glass half empty or half full? " any data present to you you can only see half empty.

    If you got Optimism "Is the glass half empty or half full? " any data present to you you can only see half full.

    Guess which state is the writer most of the time.

    30,073 property agents in Singapore as of January 1, 2020. What are the rest of the agents surviving on?

    CEA was formed on 22 October 2010, and aims to develop a professional and trusted real estate agency industry. To do this, we focus on three strategic objectives – effective regulation, industry development, and consumer education.

    It was easy to be a property agent before and a few years after CEA was formed. Anyone who think it is easy now should try RES courses and exam.

    Hard Truths about the RES Exams
    1. There were 29,146 realtors in Singapore as at 1 Jan 2019. That is a 2% increase as compared to 2018
    2. With more realtors joining the industry, does it make sense to limit and control the quality of salespeople to prevent oversupply?
    3. RES exams are brutal - You need 60% to pass but only a mind-blowing 30% of the students pass every year!
    4. Joining this multi-billion dollar industry requires initial hard work and effort, but the rewards are well worth it!

    https://salt55.sg/acing-the-res-exams/
    Last edited by Arcachon; 27-05-20 at 10:00.
    The Best Time to buy Property is Yesterday.
    If you lose Money it because you sell on a wrong Day.

    https://wa.me/6587821025

    https://r057844h.propnex.net/

    You don't Buy others will Buy.
    You don't Sell, others will Sell.

  3. #3
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    Default Re: Spot the incorrect information and AssUme Data.

    A spokesperson from Orange Tee & Tie recently told the media that “once the situation stabilizes and safe distancing measures ease, new homes sales will likely pick up when show flats reopen and house viewings resume. The growing economic uncertainties around the world may also propel more investors to seek shelter for safe-haven assets here”. (The Straits Times, April 15, 2020)

    Really? Do you think “new homes sales will likely pick up” after the government relaxes safe distancing measures? When they allowed the bakeries to sell cakes again today, I immediately rushed to buy some this morning. How many of us miss the sales galleries so much that we need to rush to visit the showflats when they reopen again? How many homebuyers or investors will commit to a new private property at this time?

    Do you think investors will “seek shelter for safe-haven assets here”? We investors all know why we should flee for cash and gold as safe havens when the market goes south. Since when did buying uncompleted properties off the plan becomes “safe-haven”, especially with “growing economic uncertainties around the world” and before the onset of a potential full-blown global recession?

    Anyone who read the News knows we are in the Global recession now.

    Before the Covid19 property market too high, price too high wait for recession.

    During the Covid19, global recession property market down, price too high wait for a lower price.

    Guess what happens when the price increase after Covid19.
    The Best Time to buy Property is Yesterday.
    If you lose Money it because you sell on a wrong Day.

    https://wa.me/6587821025

    https://r057844h.propnex.net/

    You don't Buy others will Buy.
    You don't Sell, others will Sell.

  4. #4
    Join Date
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    Default Re: Spot the incorrect information and AssUme Data.

    The URA data show new private home sales fell 32 percent in March. This was even before the implementation of a circuit breaker on April 7 with compulsory closure of sales galleries. In SRX’s April non-landed private residential flash report, only 309 resale units changed hands in April. That is a whopping 62.2 percent year-on-year drop. According to CEA, we have 30,073 property agents in Singapore as of January 1, 2020. What are the rest of the agents surviving on?

    we have 30,073 property agents in Singapore as of January 1, 2020. Only 309 resale units changed hands in April mean most of the agents do not need the income from property transaction to survive, just sharing some market insight most are multiple property owners.
    The Best Time to buy Property is Yesterday.
    If you lose Money it because you sell on a wrong Day.

    https://wa.me/6587821025

    https://r057844h.propnex.net/

    You don't Buy others will Buy.
    You don't Sell, others will Sell.

  5. #5
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    Default Re: Spot the incorrect information and AssUme Data.

    1) We have to be 100 percent sure that our employment, business, and investment will not be affected by Covid-19. We have the financial means and holding power even if the worst is yet to come.

    If we pay million for the scholar to run the country and you still don't trust them doing a good job, guess you need to find a better place to stay.

    1. WHAT IS TDSR?

    The framework or rules, introduced on June 29, 2013, were implemented to encourage home buyers to borrow within their means.

    https://www.straitstimes.com/busines...u-need-to-know
    The Best Time to buy Property is Yesterday.
    If you lose Money it because you sell on a wrong Day.

    https://wa.me/6587821025

    https://r057844h.propnex.net/

    You don't Buy others will Buy.
    You don't Sell, others will Sell.

  6. #6
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    Default Re: Spot the incorrect information and AssUme Data.

    2) Even when prices are to drop further, be it 10, 20, or 50 percent in the coming months or years, we really don’t mind buying now at higher prices – at 10 to 50 percent above the future value.

    Anyone in the property market long enough will know 10% to 50% is next to impossible unless the property was bought at the high side.
    The Best Time to buy Property is Yesterday.
    If you lose Money it because you sell on a wrong Day.

    https://wa.me/6587821025

    https://r057844h.propnex.net/

    You don't Buy others will Buy.
    You don't Sell, others will Sell.

  7. #7
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    Default Re: Spot the incorrect information and AssUme Data.

    3) We are fine buying under the current loan-to-value restrictions, pay 4 percent buyer stamp duty, 12 to 25 percent ABSD, and 4 to 12 percent seller stamp duty when selling within 4 years.

    Unless the one who wrote the article AssUme everyone knows SSD changed from 4 years to 3 years resulting in the en-bloc sale and market upturn.

    Under the changes effective on 11 March 2017, the SSD will be payable if a homeowner sells his property within three years of purchase, down from four years previously.
    The Best Time to buy Property is Yesterday.
    If you lose Money it because you sell on a wrong Day.

    https://wa.me/6587821025

    https://r057844h.propnex.net/

    You don't Buy others will Buy.
    You don't Sell, others will Sell.

  8. #8
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    Default Re: Spot the incorrect information and AssUme Data.

    4) After our purchase, it matters nothing to us whether the government will relax any property cooling measure. We are fine if we don’t get to enjoy any property stimulus measures rolled out by the government when the time is ripe.

    You need to stay in a place where there is no internet to know what the government done for the present landlord.

    #Dailyupdate #MAS #TDSR #Deferloan #Covid19

    1. 31 March 2020
    MAS and Financial Industry to Support Individuals and SMEs Affected by the COVID-19 Pandemic
    https://www.mas.gov.sg/news/media-re...id-19-pandemic

    2. 07 April 2020
    MAS Clarifies Loan-to-Value and Total Debt Servicing Ratio Rules for Residential Mortgages and Mortgage Equity Withdrawal Loans
    https://www.mas.gov.sg/news/media-re...thdrawal-loans

    3. 30 April 2020
    MAS and Financial Industry Provide Additional Support for Individuals
    https://www.mas.gov.sg/news/media-re...or-individuals
    The Best Time to buy Property is Yesterday.
    If you lose Money it because you sell on a wrong Day.

    https://wa.me/6587821025

    https://r057844h.propnex.net/

    You don't Buy others will Buy.
    You don't Sell, others will Sell.

  9. #9
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    Posts
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    Default Re: Spot the incorrect information and AssUme Data.

    5) We don’t mind developers delaying construction and completion of new projects for six months or even longer. It doesn’t matter if there is no definite deadline to collect the key. We will still pay the downpayment now and progressive payments as scheduled.

    Everyone knows Developer is given an additional 6 months to complete the project unless you are staying in HK thinking HK is not China.

    https://www.todayonline.com/singapor...ected-covid-19
    The Best Time to buy Property is Yesterday.
    If you lose Money it because you sell on a wrong Day.

    https://wa.me/6587821025

    https://r057844h.propnex.net/

    You don't Buy others will Buy.
    You don't Sell, others will Sell.

  10. #10
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    Default Re: Spot the incorrect information and AssUme Data.

    According to URA, as of 1st quarter 2020, there is a total supply of 48,868 uncompleted private residential units (excluding ECs) in the pipeline with planning approvals. Among them, 29,149 units remained unsold.



    https://sbr.com.sg/residential-prope...00-units-in-q1

    Why show you 48,868 uncompleted private residential units (excluding ECs) in the pipeline without showing you the past?
    The Best Time to buy Property is Yesterday.
    If you lose Money it because you sell on a wrong Day.

    https://wa.me/6587821025

    https://r057844h.propnex.net/

    You don't Buy others will Buy.
    You don't Sell, others will Sell.

  11. #11
    Join Date
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    Default Re: Spot the incorrect information and AssUme Data.

    When China was under lockdown in the most critical stage to control coronavirus spread in the country, property sales plunged 40 percent. To save new project sales, China’s second-largest property developer Evergrande decided to adopt aggressive promotion. As a result, 99,000 units worth RMB102.7 billion (S$20.5 billion) were sold online just in February. Despite all sales offices being shut, sales surged 118 percent – even higher than a year ago when there was no coronavirus. Evergrande became the top market performer of the month. (Reuters, March 2, 2020)

    Compare apple to apple. Why want to mislead the reader about China and Singapore property market.

    https://www.asiagreen.com/en/news-in...-estate-market



    The Best Time to buy Property is Yesterday.
    If you lose Money it because you sell on a wrong Day.

    https://wa.me/6587821025

    https://r057844h.propnex.net/

    You don't Buy others will Buy.
    You don't Sell, others will Sell.

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