Property agents feeling the pinch as market cools

[Runifyouhaveto]

Anyway, on a more serious note, my family relative has a 99-year leasehold condo that was bought quite sometime ago (before the crazy price rise in the recent years). So, he will still make some money if he sells it at today's price. What would your advice be? Should he continue to rent the condo out or sell it? How bad do you think the price drop will be in the next two years?

Generally speaking, i think i think rental income will also drop. My best friend just lost his tenant over the weekend and new rental contracts are priced lower.

I believe it is their investment property and their loan exposure is very minimal because they bought it long ago.

So you are right to say that, they can sell or keep to enjoy the rental yields.

The remaining two major factors are location (project name) and the capital gain that he is sitting on. It will determine opportunity cost based on the remaining lease and the prospects of enbloc a decade later.

 

[Runifyouhaveto]

No quick recovery for Singapore property market: seminar
http://www.businesstimes.com.sg/real-estate/no-quick-recovery-for-singapore-property-market-seminar

Chua Hak Bin, head of emerging Asia economics at Bank of America Merrill Lynch, warned that Singapore may enter a period of stagnation over the next couple of years. Recent alarm bells were sounded when employment growth contracted for the first time in the first quarter since the global financial crisis (GFC), loans growth contracted in May for the first time since the GFC, and Singapore's inflation plunged to the lowest in five years, he said.

 

[Runifyouhaveto]

Generally speaking, i think i think rental income will also drop. My best friend just lost his tenant over the weekend and new rental contracts are priced lower.

SINGAPORE — Rentals for non-landed private homes in Singapore fell by 0.5 per cent in June from a month ago, extending from the 0.6 per cent decline in May, flash estimates by SRX Property showed today (July 15). Compared to a year earlier, rental prices were lower by 6.5 per cent.
http://www.todayonline.com/singapore/private-home-rentals-decline-second-month

 

[eatshitndie]

shiok! cooling measures are working and voters would vote pap again. pap is the best!

 

[xebay11]

No quick recovery for Singapore property market: seminar
http://www.businesstimes.com.sg/real-estate/no-quick-recovery-for-singapore-property-market-seminar

Chua Hak Bin, head of emerging Asia economics at Bank of America Merrill Lynch, warned that Singapore may enter a period of stagnation over the next couple of years. Recent alarm bells were sounded when employment growth contracted for the first time in the first quarter since the global financial crisis (GFC), loans growth contracted in May for the first time since the GFC, and Singapore's inflation plunged to the lowest in five years, he said.

Singapore is overbuilt until the 2030s, and with TDSR and ABSD in place, the market will continue to languish indefinitely.

 

[Runifyouhaveto]

shiok! cooling measures are working and voters would vote pap again. pap is the best!

SSD is very important now because it limits the offloading from speculators,
hell breaks loose if it is removed now.

eg. New condos in Jurong sitting on 10-20% paper loss, and they are mostly sold with SSD restrictions.
Just imagine the prices collapsing more than 20% if SSD removed, triggering margin-calls from bank.

 

[Runifyouhaveto]

Singapore is overbuilt until the 2030s, and with TDSR and ABSD in place, the market will continue to languish indefinitely.

For TDSR, if u seek loan from foreign banks, they are not so strict.
But to bypass the ruling completely, maybe their RM will tell u to register a company to deal with them.

 

[Runifyouhaveto]

Singapore June private home sales fall 22 pct y/y
The level of sales was down 42 percent from the 643 units sold in May.
http://www.reuters.com/article/2015/07/15/singaporeproperty-homesales-idUSS7N0ZF00920150715

 

[johnny333]

Had a yankee neighbour who returned to the USA. The unit that he was renting is still vacant.

If the economy in the US improves fewer americans will want to work in places like Spore. Spore is a damn expensive place even for expats.

 

[Runifyouhaveto]

Had a yankee neighbour who returned to the USA. The unit that he was renting is still vacant.

If the economy in the US improves fewer americans will want to work in places like Spore. Spore is a damn expensive place even for expats.

Sg-posting is very suitable for single expats - esteemed position in society, obedient asian subordinated, safe and color nightlife, plenty of good free fucks
However, it is really tough for those who are posted here and tried to bring their kids along.

 

[xebay11]

For TDSR, if u seek loan from foreign banks, they are not so strict.
But to bypass the ruling completely, maybe their RM will tell u to register a company to deal with them.

Once you buy with a company you are subject to GST and subject to commercial loan rates.

 

[Runifyouhaveto]

Once you buy with a company you are subject to GST and subject to commercial loan rates.

yup, that situation is applicable for commercial properties
many speculators madly flipping commercial properties because there are not SSD = they can offload within a short time-frame without penalties
so GST is not a concern for them as most of these transactions involved GST. As a GST-reg company, they can claim back the GST.

 

[dancingshoes]

Had a yankee neighbour who returned to the USA. The unit that he was renting is still vacant.

If the economy in the US improves fewer americans will want to work in places like Spore. Spore is a damn expensive place even for expats.

ya, normally chao angmos prefer more exotic locations like laos or Myanmar.

 

[Cerebral]

Had a yankee neighbour who returned to the USA. The unit that he was renting is still vacant.

If the economy in the US improves fewer americans will want to work in places like Spore. Spore is a damn expensive place even for expats.

Thats because only 5% or less of the foreigners in Singapore are on Expatriat Terms. The rest are only on Local or Local Plus, ( plus refers to housing, but quite low one)

 

[sense]

New private-home sales slump 42% in June
Angela Teng
[email protected]
Published: 11:33 AM, July 15, 2015
Updated: 9:25 PM, July 15, 2015

SINGAPORE — Sales of new private homes nearly halved last month from May, extending their slide as developers refrained from launching new projects during the mid-year school holidays and as ongoing housing loan curbs added to the drag on performance.

Developers sold 375 units last month, excluding executive condominiums (ECs), down 42 per cent from the 643 homes sold in May and a 22 per cent decline from the 482 units sold in June last year, data from the Urban Redevelopment Authority showed (July 15).

With the exception of April, when 1,167 homes were sold, sales of new private homes have remained between the 300 and 650 range.

Last month’s transactions were no different. The lacklustre sales came as developers held back from debuting new projects, concentrating instead on launching units of existing projects. In June, developers launched only 219 units, 56 per cent less than in the previous month and 48 per cent less than in June last year.

“There are three reasons for the subdued buying sentiment. First, it coincided with the June school holidays when families might be away. Second, there was a lack of mass-market launches, with developers preferring to launch new projects at a later date. Furthermore, with loan curbs still in place, homebuyers remained selective in their purchase decisions,” said Mr Ismail Gafoor, chief executive officer of PropNex Realty.

The bestselling project last month was Botanique at Bartley in Upper Paya Lebar Road, with 59 units sold at a median price of S$1,301 per square foot (psf), bringing the total number of units sold to 403.

Two projects, Lakeville at Jurong Lake Link and The Panorama in Ang Mo Kio, tied for second place. Developers sold 25 units each at a median price of S$1,320 psf and S$1,231 psf, bringing the total units sold to 497 and 450, respectively.

All three bestselling projects are located in the Outside Central Region (OCR), which claimed the dominant market share last month, with 247 units sold. In the Rest of Central Region (RCR) and Core Central Region (CCR), 79 and 49 homes were sold respectively.

The EC segment saw 110 units sold last month, down from 210 in May.

With the Hungry Ghost Festival in August and December school holidays, the second half of the year may not provide adequate time for sales volumes to pick up.

“Due to the Hungry Ghost month and December school holidays, which usually lead to slower home sales, we are left with only four months to work with. We don’t have much time to drum up sales … As at mid-year 2015, developers have sold a total of 3,496 units. This is less than half of last year’s total of 7,316 units. We may end the year with fewer than 7,000 units sold,” said Mr Eugene Lim, key executive officer of ERA.

Developers of private projects are also expected to take a restrained stance on new launches to avoid competition with coming EC project launches. “Going forward, as developers with EC projects line up for launches in the second half of the year, developers of mass-market projects may go slow to avoid a collision as they are both catering to similar market segments,” added Mr Lim.

http://m.todayonline.com/singapore/private-home-rentals-decline-second-month

 

[Runifyouhaveto]

Singapore is overbuilt until the 2030s, and with TDSR and ABSD in place, the market will continue to languish indefinitely.

A property agent friend just taught ah RUN that if your first property is fully paid-up, you can remove your wife's name from the first property and use your wife's name to buy the second without ABSD issue.

 

[sense]

A property agent friend just taught ah RUN that if your first property is fully paid-up, you can remove your wife's name from the first property and use your wife's name to buy the second without ABSD issue.

If that is true then a smart wife will suggest to her husband to remove his name from the 1st property and use the husband's name to buy the second home instead :-)

 

[Runifyouhaveto]

If that is true then a smart wife will suggest to her husband to remove his name from the 1st property and use the husband's name to buy the second home instead :-)

well said!

 

[dancingshoes]

If that is true then a smart wife will suggest to her husband to remove his name from the 1st property and use the husband's name to buy the second home instead :-)

A property agent friend just taught ah RUN that if your first property is fully paid-up, you can remove your wife's name from the first property and use your wife's name to buy the second without ABSD issue.

property prices are still falling, unless you want to catch a falling knife, i think it's being greedy to own more than one property at this current time.

 

[soIsee]

well said!

Well said , my fuck lah.

You think you so pally pally with your wife?

She can anytime , anywhere use the women Charter onto you!

Like I have said. Men who got married, are already 3/4 of a Loser in their life and it just take a slight
tipping over to lose the other fucking 1/4 they have left.

Don't believe me, ask those buddy of yours ( no matter HOW RICH THEY WERE) who got fucked by the women Charter! LOLOLOLoLoLoL