Oh no... not another of those "It will eventually come down"
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Property prices. Crash coming?
- Thread starter palden
- Start date
Oh no... not another of those "It will eventually come down"
I am sure about the following:
1) Prices will not crash
2) Prices will soften in 2013 by 5% to 15%... sorry i have to give a bigger range, developers can absorb some stamp duties into their margin as long as they have the sales volumes going but individual resale apt owners will experience a greater drop
3) Softer prices does not translate into enough savings for people affected by the stamp fees, but first time Sinkies home owners will be the prime beneficiaries
4) When the price drop hits 15% to 20%, govt will gradually remove the cooling measures (starting from CM7)
The trick is obviously catching the low... you need to be decisive.
And yes, i agree with the bro who said even with 20% drop, prices are still too high and investment yield will be low
Going forward, do not expect any major profits from property investments. PAP's balls have shrunk, they will put a lid to runaway costs.
1) Prices will not crash
2) Prices will soften in 2013 by 5% to 15%... sorry i have to give a bigger range, developers can absorb some stamp duties into their margin as long as they have the sales volumes going but individual resale apt owners will experience a greater drop
3) Softer prices does not translate into enough savings for people affected by the stamp fees, but first time Sinkies home owners will be the prime beneficiaries
4) When the price drop hits 15% to 20%, govt will gradually remove the cooling measures (starting from CM7)
The trick is obviously catching the low... you need to be decisive.
And yes, i agree with the bro who said even with 20% drop, prices are still too high and investment yield will be low
Going forward, do not expect any major profits from property investments. PAP's balls have shrunk, they will put a lid to runaway costs.
yeap thats the black swan event .... but as with historical evidence, such "occurrences" are happening more frequently and closer and closer to each other.
in Singapore case, just let those idiots in the PAP display their sheer dumbassery by installing a nuclear plant here and then you wait. i will be the first to leave.
in Singapore case, just let those idiots in the PAP display their sheer dumbassery by installing a nuclear plant here and then you wait. i will be the first to leave.
Then crash is very unlikely.
15% to 20% drop => price still very very high... it merely brings back some sense to the market but nowhere near low... a 20% drop brings us to price level 2 years ago
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If population is to go up to 7-8 million, property prices how to come down ? More like supply cannot keep up with demand.
Plus, given the zero creativity among the pappies in generating ideas to boost the economy, they will likely stick to the formula that worked that last few years.
In other words, we are all fucked !
Plus, given the zero creativity among the pappies in generating ideas to boost the economy, they will likely stick to the formula that worked that last few years.
In other words, we are all fucked !
Pap will not allow price to plunge too much, as they will lose votes from the middle ground. The optimal for pap is to hold steady, even if it means reducing the strength of sgd. a price plunge will also cause massive problems with temasick, local banks, local property firms and govt coffers.
True. But if they job market cannot hold, banks and HDB will not be able to forgive or delay payments. It will happen and it will be ugly. There are solutions of course, but not thing that Leegime is prepared to do. And the most transparent method of readjusting it using the future to amortize losses will exposed the Leegime to moral bankruptcy and overthrow. So, it will not do it.
either way they are dead so they might as well go and jam it all the way hence the white paper, the PAP is betting that sinkies will just kpkb for now and then they get to go and continue with their juggernaut...
nothing is going to stop them until they have completely fucked this country and bring it to an utter carnage
Yes, and pap will do all they can to prop it up for as long as possible, whether they can succeed or not is another issue altogether.
It is deliberate policy to constrain housing supply while sharply increasing demand. Note that even with current slew of cooling measures, the new demand is still going to be sufficient to absorb the new supplies of private housing. The only concern was in foreigners dabbling in hdb flats, which khaw has more or less killed off by now.
The situation is such that many of the regional rich are buying sg private properties and they will likely keep the sg properties over their own countries' properties.
The middle ground determines the winner, and for next GE, the middle ground will not kick out pap.
Yes, Merl is correct. I just went yesterday. The bigger 4BR are selling much cheaper at around 1300psf. But the studio, 2Br and 3Br remains above 1600psf ... some are cheaper becos of the low floor, the higher floor ones are still selling at 1650 and above ....
A lot of people at the show room, but don't know whether buying or not ....
Lets rather wait one more week and see ....
Are you sure?? Treasure Trove is already history, been sold out since many moons ago
Not 100 percent.
All HDB flats are 99 years. Whats gonna happen when most flats are above 40 years old? Will sinkees buy a flat with 59 years or less remaining on the lease?
If the govt really want the property price to cool down, they don't need to introduce seven cooling measures over the past four years.
Here is further evidence that property price will continue to go up:
URA receives 12 bids for Jurong West Street 41 site
By Brandon Tanoto
29 January 2013
SINGAPORE : A residential land site at Jurong West Street 41 attracted 12 bids at the close of tender by the Urban Redevelopment Authority (URA) on Tuesday.
Property consultants said the high number of bids reflects the keen interest from developers.
It also shows that developers' outlook on the property market has not been dampened by the recent property cooling measure announced earlier this month.
Joseph Tan, executive director of residential at CBRE, said: "This shows that developers are still on the hunt for sites with good location attributes and demonstrates their confidence that
the market will respond positively to the project."
MCL Land (Prestige) - a subsidiary of Jardine Matheson Group under Hongkong Land Holdings - was the highest bidder for the land parcel.
It submitted a bid of S$438.9 million, or S$651 per square foot per plot ratio (psf ppr), for the 99-year-leasehold site.
This was 3 per cent above the second highest bid of S$424.9 million made by Secure Development.
Director for research & advisory at Colliers International, Chia Siew Chuin, said: "Should MCL Land be awarded this site, it would cement the developer's strength in the Jurong Lake District.
"MCL Land was awarded a site at Boon Lay Way next to Jurong East MRT Station in May 2012 after submitting the winning bid of S$369.4 million or S$705 psf ppr."
Meanwhile, other bidders include a joint bid by Frasers Centrepoint, Far East Organization and Sekisui House.
The lowest bid came from Mezzo Development, with a bid price of S$243.8 million.
The Jurong West Street 41 site is located next to the Canadian International School and is within walking distance to Lakeside MRT station.
Ms Chia noted: "Buyer demand should come from professionals working in the industries in the Jurong/Tuas areas as well as upgrader demand from the HDB estates in Jurong East and Jurong West.
"As Jurong East develops further as a regional centre, more working professionals might be tempted with the offerings of a new condominium in this location.
"At a land price of S$651 psf ppr, the estimated break-even cost could range from S$1,000 - S$1,100 psf. When units in this project are ready for launch, the selling price could start from S$1,250 psf."
She added: "The limited supply of new condominium projects in this area has also resulted in the strong interest from developers."
The site has an estimated gross floor area of 62,601 square metres and was launched for public tender on November 15 last year.
URA said it would decide on the winning bidder at a later date.
