Agree. As long as people think they can afford the monthly installments, they delude themselves to think they can afford it.
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Are property prices too high now ?
- Thread starter Relako
- Start date
Agree. As long as people think they can afford the monthly installments, they delude themselves to think they can afford it.
China is one big wild card.
what they do, they do it big.
ie: when they buy stuff, they buy in bulk.
Singapore being the small place it is, would experience a bigger demand than usual. supply being constant or dropping, that would result in a upward movement in prices.
only thing is when they (the chinese) let go. now, why would they want to let go of the property they acquire?
Is the sky blue? U moron
that is so true.
they wont be letting go of the property so soon. Sinkapore also have a large pool of indian prs, ang mohs and abit of filipino + myanmar to tap on.
That was what prompted me to buy a private property in 1995. MM said something to the effect of:
" I cannot make the small group of people who haven't own property happy by bringing the price down, and thus make the majority of those who already own properties unhappy "
I was trusting of the Govt and naive.
"Property prices cannot come down"
That was what the Americans said before the recent sub-prime crisis 2 years ago.
That was what the Japanese said before their bubble burst about 15-plus years ago.
This is what most Singaporeans are saying now.
Rather than having the entire nation concentrating on how to put productive resources to good, creative use, Singaporeans are basking in the comfort of high property prices and continuing to speculate in real estate sector.
Good luck.
" I cannot make the small group of people who haven't own property happy by bringing the price down, and thus make the majority of those who already own properties unhappy "
I was trusting of the Govt and naive.
"Property prices cannot come down"
That was what the Americans said before the recent sub-prime crisis 2 years ago.
That was what the Japanese said before their bubble burst about 15-plus years ago.
This is what most Singaporeans are saying now.
Rather than having the entire nation concentrating on how to put productive resources to good, creative use, Singaporeans are basking in the comfort of high property prices and continuing to speculate in real estate sector.
Good luck.
A lot of private property here is actually own by funds, not by actual owners. When the trigger for them to sell happens, you will see a collective "let go" happen instantly.
The most obvious trigger now is the China property market. If that one crashes, the singapore market won't escape.
The most obvious trigger now is the China property market. If that one crashes, the singapore market won't escape.
Your metaphor is too deep for me to relate to.
So, obviously, I am a moron.
Thank you Papsmearer for pointing it out. A humbling experience like this is really good for me. Thanks again.
By the way, I am a member of the PAP Youth Wing.
there u go. mystery solved.
Sinchiapore has that cannot die wan LKY, his team of incorruptible, shameless ministers and the forever golden period mah!
How can property price in tiny Sinchiapore collapse with a 6.5m population, 25% of them are PRC prostitutes and ah neh labourers?
Well 30 years ago, u can buy a nice flat for $50K and can sell now for $450K. In those days the mandate of HDB was to really give people affordable housing. Those days are long gone. Don't mislead people like that. Today, you pay $450K to $500K for a flat. In order to make the same amount of money, you have to sell for $900K in 30 years. Can or not? What is the market for $900K flats 30 years from now? What is your household income needed to qualify for a mortgage on that large an amount? If so easy to make money, kindly ask around and see how many sinkies have actuallylost money on their flats in the last few years.
Yup, mystery solved.
A 99 year prepaid lease is hardly a good buy under any scenario.
From my observations;
From my vantage point as an average serf.
The property prices of SGP is shooting skyhigh.
In China, the prices are shooting skyhigh as well.
The places that have bargain housing pricing is in USA now, as there are alot of foreclosures.
I do not know why the pricing in SGP is going so high, perhaps there are too much hot money going in, as there are not too many industries that are doing well.
Likewise in China, the reason why the hot money is going into properties is because, Properties is a MAIN INDUSTRY itself, or growth engine if you would like to call it. Many shrewed businessmen use bank loans, supposingly meant for their core business, but they end up using the bank loans for properties speculations, forcing the Major Tier 1,2 Cities pricing to shoot skyhigh!
The housing bubbles will burst or not, I do not know... but to get into Properties now is suicidal, unless you are the seller.
From my vantage point as an average serf.
The property prices of SGP is shooting skyhigh.
In China, the prices are shooting skyhigh as well.
The places that have bargain housing pricing is in USA now, as there are alot of foreclosures.
I do not know why the pricing in SGP is going so high, perhaps there are too much hot money going in, as there are not too many industries that are doing well.
Likewise in China, the reason why the hot money is going into properties is because, Properties is a MAIN INDUSTRY itself, or growth engine if you would like to call it. Many shrewed businessmen use bank loans, supposingly meant for their core business, but they end up using the bank loans for properties speculations, forcing the Major Tier 1,2 Cities pricing to shoot skyhigh!
The housing bubbles will burst or not, I do not know... but to get into Properties now is suicidal, unless you are the seller.
30 years ago HDb cost $50K well today you can get a brand new BTO in sengkang for about $220 before any grant. I do not think that is that bad. Just think back how much things cost 30 years ago.
As for housing prices, not only are the Chinese investing, we also have huge Malaysia and Indonesian buyers. Indonesia has close to 300 million people, crazy wealthy in natural resources and yet $$$ is concentrated in the 3 million or so Chinese living there. Guess where these Chinese park their money and send their kids to school - SINGAPORE.
Traditionally 40 to 60% of high end prop are owned by Indonesian but now we have the new Chinese and Indian rich added into the mix.
As for housing prices, not only are the Chinese investing, we also have huge Malaysia and Indonesian buyers. Indonesia has close to 300 million people, crazy wealthy in natural resources and yet $$$ is concentrated in the 3 million or so Chinese living there. Guess where these Chinese park their money and send their kids to school - SINGAPORE.
Traditionally 40 to 60% of high end prop are owned by Indonesian but now we have the new Chinese and Indian rich added into the mix.
It is great to have a forum like this where views and opinions are shared. Mindless bickering and flaming for no particular reason is downright childish and unnecessary.
At least, if I base my decision to buy an apartment from the information that I gather around forums, I know what I am in for. I am prepared for the upside, the downside and aware of the risk I am taking.
If the downside materialises, I am prepared and willing to pay the price for the risk I take.
Agree with a lot of forummers that prices are really high and a bubble could have formed or in the process of forming.
But at the same time, the fundamentals are there too for prices to remain firm. Population increase, foreigners infiltrating our country, hot money from stimulus packages all around the world flowing in.
At the same time, the govt should really take care of the lower end of the population stratum. Housing is expensive, medical costs are high, cost of doing business and administrative expenses are pretty significant vis-a-vis profit margins.
It is quite sad that Singapore should reach a stage where the poor are neglected and the borderline cases find it hard and meaningless to live and work here.
It is pretty depressing.
At least, if I base my decision to buy an apartment from the information that I gather around forums, I know what I am in for. I am prepared for the upside, the downside and aware of the risk I am taking.
If the downside materialises, I am prepared and willing to pay the price for the risk I take.
Agree with a lot of forummers that prices are really high and a bubble could have formed or in the process of forming.
But at the same time, the fundamentals are there too for prices to remain firm. Population increase, foreigners infiltrating our country, hot money from stimulus packages all around the world flowing in.
At the same time, the govt should really take care of the lower end of the population stratum. Housing is expensive, medical costs are high, cost of doing business and administrative expenses are pretty significant vis-a-vis profit margins.
It is quite sad that Singapore should reach a stage where the poor are neglected and the borderline cases find it hard and meaningless to live and work here.
It is pretty depressing.
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