Property prices CRASHES ..........you wait long long......

[The_Hypocrite]

Yup my point all along,,Singapore property prices can me manipulated easily. But in Ang mor land much harder. I know one chap got greedy and bought a 1 million luxury apartment in perth few years back. Now struggling to pay off the loan,,he much better of if he bought in singapore,,,the interest rates in Oz is higher and rate of return lower,,spore would have been a much better bet,,,,

One other point I want to remind the frens in this forum,,in spore renting is more expensive than buying,,,and rental income offers much better yields as compared to many places,,,hence this might be another factor of keeping prices afloat. However now,,there seems to be a glut in rentals for private property...I dont know the real story but that is what Mad Khaw was saying about bedok reservoir there,,if people are buying to stay,,its fine,,,but if buying to rent than a glut will definately affect their cash flow and they might be forced to sell cheaper,,,than those looking for a place to stay will go in...so will be a slight variance but not much,,anyway..property is always about location location location,,good location near CBD wont be affected as much. And on hindsight I dont want to stay bedok reservoir area,,no MRT and public tpt is shit...

Lesson learnt is that monetary stimulus can only bring you so far - like begging can only bring you so far. Since the banks have already tightened up credit + lending, at most what the QE has done is to give more money to those who already have the money to gobble up even more assets. The well off would thank you very much but for the rest of the population who is still living in uncertainty, its not going to help them very much.

At one point of QE, some economists cynically remarked that it would have been better if the Fed did something bold and printed money to throw at the man on American streets to pay off their existing credit card debts or housing mortage or just spend it. At least you relieve the personal debt problem and perhaps boost consumer confidence+spending.

Locally, don't expect too much since if it really goes south, the government will do massive stimulus. As mentioned before, Singapore is a small place and due to a somewhat superficial perception of our economy, Singapore enjoys a reputation that we have not really earned. Not to mention due to being spoilt by an environment which favors the real estate sector, most Singaporeans start with a base perception that all property investment will have some form of return even when it is not in Singapore. It is the reason why Profitable Plots can actually con people into doing land banking for a piece of land marked as green belt in UK and why so many uncles and aunties can be persuaded into buying property in ulu places in foreign places where they have never gone before.

 

[cheekenpie]

Relax..... start of 4th quarter you will see the drop

 

[po2wq]

... DBS sold the same Lehman product both in DBS HK and in Singapore.....I think it is High Note 5

However, in HK, the depositor were able to bang at the bank"s door and demand repayment..

whereas in Singapore, some depositors lost heavily...

n dat loon burger came out n rubbed salt in2 ze poor victimz wounds ... u went in wif ur i's open ...

 

[po2wq]

prop prices wun crash 1 la ...

who juz bot 2 units wif discount $2 million each? ...

 

[mulvi74]

Property prices can't crash in Singapore.
Gov controls the market and gov also has to keep the punters buying HDB so it looks like they are `spending' their `CPF'
The real trouble comes when CPF funds are taken o/s etc ... whilst people use CPF to buy HDB the gahment's arse is saved
All the book accounting is done

 

[The_Hypocrite]

I heard that for 2011 n 2012. Guess if one says it often enough it will happen. In Q4 this year. Or next year. Or next decade etc etc.

Relax..... start of 4th quarter you will see the drop

 

[Force 136]

To those who believe property prices will crash : Is your judgement better than the govt -linked professionals who put their money where their month is ?

Re: According to an SGX filing by Keppel Land on Tuesday (28 May), its associate company Keppel Bay Pte Ltd has granted options to family members of Mrs Koh-Lim Wen Gin, a director of the company, to purchase its own upcoming property known as Corals at Keppel Bay [Link].

Two units were sold to the family members of Mrs Koh-Lim Wen Gin:

Unit #02-08 (3,477 sf – 4 bedroom)
Purchasers: Lawrence Low Kok Leong and Koh Lin-Net
Date of Option to purchase: 19 May 2013
Purchase Price: $10,085,250 ($2,901 psf)
Discount: 10%+10%+3%

Unit #01-08 (3,660 sf – 4 bedroom)
Purchasers: Kevin Koh In-Chuen
Date of Option to purchase: 20 May 2013
Purchase Price: $10,306,820 ($2,816 psf)
Discount: 10%+10%+3%

According to BusinessWeek, Mrs Koh-Lim Wen Gin was URA’s Chief Planner and Deputy Chief Executive Officer from 2001 to 2008. She has also been an Independent Director of Keppel Land Ltd since January 20, 2010.

Mrs Koh-Lim’s daughter, Ms Koh Lin-Net, has also been granted options to purchase a unit or units at Corals at Keppel Bay.

Ms Koh Lin-Net is none other than the CEO of MDA. She has been MDA Chief since 1 November last year.

http://www.tremeritus.com/2013/05/31/mda-chief-to-buy-10m-condo/

 

[xebay11]

A proper job is whereby one earns well can feed the family and let the employee achieve his/her financial objectives. Pinky and Gang has a proper job. Civil Serpents have a proper job.

About property agents, their job is to help their customers get the best price for a property. However Singapore rules are damn crappy. For HDB flat both the buying agent and selling agent get commission from the seller right??? Where is the logic in that? It should be a straight forward rule whereby only the seller pays the commission. Less distortions the better. There are good agents whereby they really help their customers get a good deal on property. The bad ones are those that try to sell property like vegetables.

In Oz, I went for a few home viewings being managed by the same property agent. And there was one house the moment I walked in and he saw me, he recommended I do not buy it as it was not suitable for me. It was in a trailer park trash suburb did not fit my profile

Now not all agents are like that. If an agent sells property like vegetables he will not have a good profile of clients. and its a law of diminishing returns. But when market is good and prices keep going up, it makes it easier to sell.
And buyers will take the risk for fear it will go higher. In bad market is when a good agent thrives. As bargain hunters will come out.

U must be living in a cave, buying and selling agents take commissions only for whom they represent only and not from seller. This has been the practice ever since agents were licensed.

 

[The_Hypocrite]

OIC,,in Oz land,,only the seller pay commission. If Buyer has an agent, than both selling and buying agent will split the commission,,spore very complicated.

U must be living in a cave, buying and selling agents take commissions only for whom they represent only and not from seller. This has been the practice ever since agents were licensed.

 

[numero uno]

for your info your are dead wrong. ALL banks whetehr US or UK and singapore are interlink. The LIBOR scandal has thrown open a can of worms and US feds and FBI are investigating the rate fiixing scandals in US. already a few heads have rolled in Barclay and UK. Go read yesterday papers, even SIBOR rates were fixed for a long time and MAS have reprimanded them. In US and UK tehre are now huge lawsuits from depositers against these banks about the artificially low rates. Go ask those in the financial industry. the rates were low because of these "fixers" which are anticompetitive and illegal. Now with the huge lawsuits nobody would think twice about doing it. a few got sack and fined billion of dollars
the lawyers are in for the long haul to suck the banks dry!!!!!!!!
expect interest rates to go up, for the suckers out there!
http://www.economist.com/news/finan...punishing-year-fines-and-lawsuits-year-lawyer

http://www.ibtimes.co.uk/articles/475861/20130607/eu-price-fixing-libor-oil-probe-gas.htm
http://www.cpmlegal.com/cases-164.html
http://www.ft.com/cms/s/0/64acde8c-b012-11e2-8d07-00144feabdc0.html

spot on!!! all my predictions above about stock markets crashing and inerest rates rising would come true. 48 hours before news came out I have even said the artes in singapore were mainpulated to be artificially low. Singapore's central bank has censured 20 banks following its review into the setting of benchmark rates in the city-state and ordered them to set aside additional reserves for a year.
The Monetary Authority of Singapore (MAS) said on Friday that it had also found 133 traders had tried to inappropriately influence the rates. Some of their cases have now been referred to the city-state's white collar crime unit and the Attorney General Chambers.

UBS, Royal Bank of Scotland and ING have been ordered to set aside the most in additional reserves, with each having to post between an extra S$1 billion and S$1.2 billion with the central bank.
Now expect comlaints from foreing investors and lawsuits like in US and europe. most would be settled quietly and MSM would keep it under shrouds but interest rates would then go up and nobody and manipulate it anymore. The prefect storm is building up. go read my previous postings.....Ha , alot of nonsensensical people taking huge mortgage and thinking ineterst rates would be lwo forever! wake up, your nightmare has just begun!!!!
- See more at: http://business.asiaone.com/news/13...chmark-rates-mas-review/#sthash.VoQJR6NI.dpuf

http://business.asiaone.com/news/13...-attempts-rig-key-benchmark-rates-mas-review/

 

[Unrepented]

If this is true, than sinkieland wouldn't be what it is today

................ Is your judgement better than the govt -linked professionals who put their money where their month is ?

...................

 

[Merl Haggard]

Relax..... start of 4th quarter you will see the drop

14th June 2013

TwentyOne Angullia Park hits $4,790 psf.


Unit of 32nd floor achieves highest unit price so far this year.


The Edge.





14th June 2013

Nassim's latest gems.

Group Exklusiv’s Kevin Kwee tests ultra luxury market with four super apartments at Nassim Quattro starting from $5,500 psf.


The Edge.

 

[xebay11]

OIC,,in Oz land,,only the seller pay commission. If Buyer has an agent, than both selling and buying agent will split the commission,,spore very complicated.

That is simply called co-broking a practice which is pretty much standard everywhere. Please do not make ignorant comments on commission structures if you do not know what is happening.

 

[xebay11]

spot on!!! all my predictions above about stock markets crashing and inerest rates rising would come true. 48 hours before news came out I have even said the artes in singapore were mainpulated to be artificially low. Singapore's central bank has censured 20 banks following its review into the setting of benchmark rates in the city-state and ordered them to set aside additional reserves for a year.
The Monetary Authority of Singapore (MAS) said on Friday that it had also found 133 traders had tried to inappropriately influence the rates. Some of their cases have now been referred to the city-state's white collar crime unit and the Attorney General Chambers.

UBS, Royal Bank of Scotland and ING have been ordered to set aside the most in additional reserves, with each having to post between an extra S$1 billion and S$1.2 billion with the central bank.
Now expect comlaints from foreing investors and lawsuits like in US and europe. most would be settled quietly and MSM would keep it under shrouds but interest rates would then go up and nobody and manipulate it anymore. The prefect storm is building up. go read my previous postings....

Your "predictions" are just a lucky guess with a 50% chance of being correct, nothing to gloat about, it is akin to the classic statement "Mas Selamat is either in Singapore or not in Singapore", no real substance but can be used to substantiate great wisdom on being correct and accurate.

BTW there is alot of high liquidity out there just waiting to enter the property market once there is any kind of correction due to unfavourable scenarios which u have just highlighted, no need for your type of analysis, Singapore's property market is not driven by logic, so a large crash in the property market in Singapore is highly unlikely in the near future as evidenced by ever increasing psf rates even in the face of falling transactions.

 

[numero uno]

Your "predictions" are just a lucky guess with a 50% chance of being correct, nothing to gloat about, it is akin to the classic statement "Mas Selamat is either in Singapore or not in Singapore", no real substance but can be used to substantiate great wisdom on being correct and accurate.

BTW there is alot of high liquidity out there just waiting to enter the property market once there is any kind of correction due to unfavourable scenarios which u have just highlighted, no need for your type of analysis, Singapore's property market is not driven by logic, so a large crash in the property market in Singapore is highly unlikely in the near future as evidenced by ever increasing psf rates even in the face of falling transactions.

you are sure sour grapes.
sure easy to talk c@ck esp all those who just give vague statements and wait till cows come home and nothing happens.
why don't you make a prediction here and let it be time stamped in this forum for evdence and see if it happens within the next 48 hours???? go ahead and tell me whether STI would hit below 3000 in next month? or whetehr Nikkei would fall further on Monday.
this is not either her or there. this is when it would crash!!!! anyway I am laughing to the bank as I shorted the market. go eat your heart out . no point talking too much. put your money where your mouth is.
alot of crap hype by prop agents or people with vested interests but secertly these people are trying dump their stocks as interest rates would definitely go up. golden rule of thumb is stock market and prop prices are both interlinked. period

 

[xebay11]

you are sure sour grapes.
sure easy to talk c@ck esp all those who just give vague statements and wait till cows come home and nothing happens.
why don't you make a prediction here and let it be time stamped in this forum for evdence and see if it happens within the next 48 hours???? go ahead and tell me whether STI would hit below 3000 in next month? or whetehr Nikkei would fall further on Monday.
this is not either her or there. this is when it would crash!!!! anyway I am laughing to the bank as I shorted the market. go eat your heart out . no point talking too much. put your money where your mouth is.
alot of crap hype by prop agents or people with vested interests but secertly these people are trying dump their stocks as interest rates would definitely go up. golden rule of thumb is stock market and prop prices are both interlinked. period

The only way for market to correct would come about with serious policy changes, first thing is to increase MOP of HDB back to 10 years. Second thing is only allow any secondary sales property to be sold only to Singapore Citizens. Third is to have levy for PRs buying HDB.

 

[Tuayapeh]

To those who believe property prices will crash : Is your judgement better than the govt -linked professionals who put their money where their month is ?

Re: According to an SGX filing by Keppel Land on Tuesday (28 May), its associate company Keppel Bay Pte Ltd has granted options to family members of Mrs Koh-Lim Wen Gin, a director of the company, to purchase its own upcoming property known as Corals at Keppel Bay [Link].

Two units were sold to the family members of Mrs Koh-Lim Wen Gin:

Unit #02-08 (3,477 sf – 4 bedroom)
Purchasers: Lawrence Low Kok Leong and Koh Lin-Net
Date of Option to purchase: 19 May 2013
Purchase Price: $10,085,250 ($2,901 psf)
Discount: 10%+10%+3%

Unit #01-08 (3,660 sf – 4 bedroom)
Purchasers: Kevin Koh In-Chuen
Date of Option to purchase: 20 May 2013
Purchase Price: $10,306,820 ($2,816 psf)
Discount: 10%+10%+3%

According to BusinessWeek, Mrs Koh-Lim Wen Gin was URA’s Chief Planner and Deputy Chief Executive Officer from 2001 to 2008. She has also been an Independent Director of Keppel Land Ltd since January 20, 2010.

Mrs Koh-Lim’s daughter, Ms Koh Lin-Net, has also been granted options to purchase a unit or units at Corals at Keppel Bay.

Ms Koh Lin-Net is none other than the CEO of MDA. She has been MDA Chief since 1 November last year.

http://www.tremeritus.com/2013/05/31/mda-chief-to-buy-10m-condo/

What a tangled web the Lee Dynasty weaves....got pricelings working for the government these days......

 

[Romagnum]

Stay in JB, save a lot of money, housing is one quarter or less

Cheong also cheaper, although Korean still expensive, can't be helped, addicted

But waste two hours on commute everyday

Still can surf net on tablet, etc, so okay lah

If Singaporeans so stupid, wanna pay exobitant price to government and developers, is their choice

 

[Force 136]

SINGAPORE: The much-awaited opening of suburban mall JEM took place on Saturday morning and attracted more than 10,000 shoppers within an hour of its opening.

Queues were seen snaking outside the mall with some shoppers showing up as early as 5.30am.

crash?......... say again?.........

 

[yahoo55]

hah hah, alot of people are in a state of denial because they either own 1 or 2 properties and are saddled with loans and tryinng to bepositive. they forgot what happenedin 1997 finacncial crises(current secnario is the same as in 1996), 2000 dotcom bust, 2003 SARS etc when it was at its peak.
soemone wise once said when almost everyone including the taxidriver and housewives talk cr@p like some peudoexpert about housing prices going up, you know it going to collapse soon. it teh same in Irland spain, USA. alot of bullshitters like in USA property scene, million dollar proepeties now going for a few thousand dollars.
if it is so simple as printing money to solve the economic crises, all countries would be doing it. the spainish and portugese and UK did it and remained in recession for past 5-6 years and still no solution. the USA is still in a recession technically and they realise they cannot just print money otherwise the US$ would be like toilet paper or Japanese Banana money. singapore cannot print more money as it is basically an imprting nation for all its goods and inflation would jump up if it prints more money and worsen the unemployment and GDP growth.
once the interest rates goes up , money would flow out and inetrest rates would go up.already at least US$40b flow out of singapore last month. those in the top banking circle know about it and exacerbate the STI minicrash. and its just the beginning.
mark my words. see the latest today. already I know of people who are sweatin as they lost all their money in stocks this year. STI alraedy in the red for 2013. the MSM just keeps quiet as it reflect badly on the local business scene.
that says alot about disaster coming. excess glut of pigeon holes nearing TOP in 2013+ weak economy of Chian, UA and Japan+europe+ impending virus epidemic(MERS) =perfect storm. remember tehre is no welfare in singapore. that means the moment the chips are down, everyone would rush for the exit door. banks are merciless, can't pay they jsut foreclose. at least HDB they cannot repo for bankrupt, but not for private. why you think garmen makes it that way? to benefit the bankers, who are always the last to suffer in any crises.
just like gold prices. last month every idiot (just like as in above) was talking like an expert as if gold would not drop and even predicted taht it wold hit $2000/ounce.
now that it did crash alot of people who invested got burnt and all those who bought gold "guarantees" are now crying motehr , father to police. at least a few hundred in singapore i heard. hah. nothing beats common sense
http://www.asiaone.com/News/AsiaOne+News/Business/Story/A1Story20130613-429442.html

This is the property perfect storm... Resale property demand has already crashed... There is oversupply and it's growing larger for next 2-3 years... Many investors cannot find tenants... Rental yield is sinking every month and could be negative yield by next year... When QE tapers and interest rates begin shooting up, it is the trigger to the Singapore's property crash...