Is local property market starting to cool down?

[Chase]

Observers were surprised that $2000psf Sky Eden@Bedok 1/4 unsold on launch.

Interest rates could be getting too high and lack of enbloc sales due to huge government redevelopment charges and duties, as high as 20-30% of enbloc price.

Is local property market starting to cool down?

 

[CPTMiller]

No way. You should know all this years how government manage it. We awaiting lots of $30k monthly remuneration suitable buyers coming in. Locals consider them lucky if successful get a BTO and not other higher prices value property.

 

[countryman]

Buyers would rather go for resale mkt now which offers more value for money.

 

[laksaboy]

When you raise interest rates, people are less inclined to borrow, and thus less inclined to buy property. Most need to take a bank loan, they are not wealthy enough to throw down cash and finish the payment immediately.

This is not rocket science.

 

[Chase]

Buyers would rather go for resale mkt now which offers more value for money.

Absolutely agree that resale market offers better value, but renovation costs too crazy and unreliable now. Can't do much for $50,000 renovation, if the place is run-down, will exceed $100,000.

Many also only go for new launch because construction is slower now, so will be 4-5 years when TOP, so first 2-3 years BUC loan has lower quantum to service and offers maximum speculation (and bankruptcy) opportunity for speculators who wants to flip and off-load in Year 3 without additional seller stamp duties.

 

[Chase]

No way. You should know all this years how government manage it. We awaiting lots of $30k monthly remuneration suitable buyers coming in. Locals consider them lucky if successful get a BTO and not other higher prices value property.

BTO is very exciting now. Many foreigners very keen to serve NS now, hoping to apply BTO with either of their parents after NS.

 

[Chase]

When you raise interest rates, people are less inclined to borrow, and thus less inclined to buy property. Most need to take a bank loan, they are not wealthy enough to throw down cash and finish the payment immediately.

This is not rocket science.

home loan fixed and float rates will likely cross 3.2% by year-end.

 

[SBFNews]

Observers were surprised that $2000psf Sky Eden@Bedok 1/4 unsold on launch.

Interest rates could be getting too high and lack of enbloc sales due to huge government redevelopment charges and duties, as high as 20-30% of enbloc price.

Is local property market starting to cool down?

Don't worry. Hongkongers, Taiwanese and Mainlanders will prop up the market. As long as CCP and Xi is in charge, the uncertainties in North Asia will always contribute to Singapore's property market.

 

[zhihau]

Don't worry. Hongkongers, Taiwanese and Mainlanders will prop up the market. As long as CCP and Xi is in charge, the uncertainties in North Asia will always contribute to Singapore's property market.

Altogether now!!! HUAT AH!!!

 

[maxsanic]

To be fair, the condo was priced at a very high end of the range for Bedok at S$2,000 psf, so getting a 75% committed sales at launch is already quite an achievement.

At most one can say the momentum for a rising housing market seems to be decelerating, but I doubt this is a sign that the Singapore residential market is peaking or coming down anytime soon.

 

[eatshitndie]

loans and mortgage rates do not impact all-cash purchases by wealthy tiongs.

 

[Boliao]

At $2100 psf, it'll cost $2.7m for a 1300 sqft unit. I paid $800k for my freehold district 15 1900 sqft landed home in 2007 For 99 years leasehold and its location, the buyers would be better off buying a resale HDB in the next block. Cost less than 1/3 of the price and that's already expensive.

 

[Loofydralb]

Is local property market starting to cool down?

Nope. Suicide numbers not high enough yet.

 

[blackmondy]

Looking forward to Sinkieland following tiong-cock's footstep where we see property developers here go bankrupt and many HDB flats becum 烂尾楼.