-
IP addresses are NOT logged in this forum so there's no point asking. Please note that this forum is full of homophobes, racists, lunatics, schizophrenics & absolute nut jobs with a smattering of geniuses, Chinese chauvinists, Moderate Muslims and last but not least a couple of "know-it-alls" constantly sprouting their dubious wisdom. If you believe that content generated by unsavory characters might cause you offense PLEASE LEAVE NOW! Sammyboy Admin and Staff are not responsible for your hurt feelings should you choose to read any of the content here. The OTHER forum is HERE so please stop asking.
Property agents feeling the pinch as market cools
- Thread starter nutbush
- Start date
QUOTE:
For the first time since my husband and I became home owners in 2009, we have been house hunting in a falling property market. Theoretically, that should be fun. After years of being on the back foot in the competitive sprint that is home buying in Singapore, we were looking forward to being in pole position for once.
We dreamt of property agents anxiously courting us, while we leisurely browsed through a growing number of fire sales and watched with interest as asking prices dropped by the minute.
But these happy visions haven't quite materialised... ...
http://business.asiaone.com/news/property-agents-worst-nightmare
For the first time since my husband and I became home owners in 2009, we have been house hunting in a falling property market. Theoretically, that should be fun. After years of being on the back foot in the competitive sprint that is home buying in Singapore, we were looking forward to being in pole position for once.
We dreamt of property agents anxiously courting us, while we leisurely browsed through a growing number of fire sales and watched with interest as asking prices dropped by the minute.
But these happy visions haven't quite materialised... ...
http://business.asiaone.com/news/property-agents-worst-nightmare
Singapore's prime residential prices fall most among 35 cities: Knight Frank
The prices here were down 12.6 per cent, far ahead of the cities that were next in line - Zurich and Geneva - which experienced a 5 per cent drop each. At the far end of the spectrum was San Francisco, which saw a 14.3 per cent gain in private residential prices, as well as Bengaluru, India, with a 13.6 per cent increase.
http://www.businesstimes.com.sg/rea...prices-fall-most-among-35-cities-knight-frank
The prices here were down 12.6 per cent, far ahead of the cities that were next in line - Zurich and Geneva - which experienced a 5 per cent drop each. At the far end of the spectrum was San Francisco, which saw a 14.3 per cent gain in private residential prices, as well as Bengaluru, India, with a 13.6 per cent increase.
http://www.businesstimes.com.sg/rea...prices-fall-most-among-35-cities-knight-frank
Why bother to educate property agents
They are just salesmen & getting a commission for selling the property. If the market demand is really falling just wait until the owners re-adjust to the new realities.It will only happen after the GE.
In my opinion there is plenty of uncertainty now. With the death of LKY things may finally change. LHL is a clown & I think even the PAP knows that. He may even be history after the next GE
There is also the impending US rate increase.
Unlikely US will increase interest rate this year:
More data point to weakening U.S. economy
http://www.forbes.com/sites/bobmcteer/2015/05/16/our-weakening-economy-is-getting-harder-to-ignor/
More data point to weakening U.S. economy
http://www.forbes.com/sites/bobmcteer/2015/05/16/our-weakening-economy-is-getting-harder-to-ignor/
Let me put it this way,
25% project a sudden rate hike in June as an offensive measure against hostile economies.
50% project a rate hike in Sept to manage the formation of bubbles, eg. 15% annual increment in California property prices, new records in S&P, etc.
25% project a rate hike only in 2016 because they want a weaker USD as the manufacturing sector might be hurt by the collapse in Euro and JPY in the past 12 months.
Think about the boats missed while waiting for US to hike rates these 1-2 yrs
If you bought in the last 2 years, you are happier if you purchased in US or Aust
San Francisco went up almost by 15% within a year
Last edited:
Orchard Gateway in prime location, but no shoppers
PUBLISHED ON MAY 18
http://www.straitstimes.com/news/si...d-gateway-prime-location-no-shoppers-20150518
PUBLISHED ON MAY 18
http://www.straitstimes.com/news/si...d-gateway-prime-location-no-shoppers-20150518
i have been there and it's more like an office building to me, ground level space a bit small to call a shopping centre unlike ngee ann city or wisma atria.
In the US there is already talk of a rate rise. I think businesses have already factored this into their plans. It may have been delayed by recent bad news but a rate rise is coming soon If not this year than in 2016.
Property developers may incur up to S$90 million in extension charges for unsold units in their condo projects from April to December 2015, followed by S$238 million in 2016 if the health of Singapore's real estate market does not improve.
http://business.asiaone.com/property/news/developers-face-hefty-extension-charges-over-unsold-units
http://business.asiaone.com/property/news/developers-face-hefty-extension-charges-over-unsold-units
smart way to control the property market, in this way, developers will cut their prices for sale. overall, will affect the prices in the area.
Property developers may incur up to S$90 million in extension charges for unsold units in their condo projects from April to December 2015, followed by S$238 million in 2016 if the health of Singapore's real estate market does not improve.
http://business.asiaone.com/property/news/developers-face-hefty-extension-charges-over-unsold-units
QUOTE:
HDB upgraders contributed to the increase in private property purchases last month, but the more worrying sign is Singaporeans and PRs buying smaller condominium units simply because they look "affordable".
If you are lucky enough to find a tenant, the gross yield is no more than 2.75 per cent a year. With increased housing loan interest rates, maintenance fees, sinking funds and 10 per cent rental property tax; it would make better sense to buy other financial products for better yield, or to keep your Central Provident Fund money for a guaranteed 4 per cent annual return.
The Government must also keep watch on developers or housing agents (both local and foreign) marketing overseas projects here.
http://www.straitstimes.com/premium...ty-investment-wont-narrow-income-gap-20150521
HDB upgraders contributed to the increase in private property purchases last month, but the more worrying sign is Singaporeans and PRs buying smaller condominium units simply because they look "affordable".
If you are lucky enough to find a tenant, the gross yield is no more than 2.75 per cent a year. With increased housing loan interest rates, maintenance fees, sinking funds and 10 per cent rental property tax; it would make better sense to buy other financial products for better yield, or to keep your Central Provident Fund money for a guaranteed 4 per cent annual return.
The Government must also keep watch on developers or housing agents (both local and foreign) marketing overseas projects here.
http://www.straitstimes.com/premium...ty-investment-wont-narrow-income-gap-20150521
More than 9,000 new flats launched in largest HDB exercise
http://business.asiaone.com/property/news/more-9000-new-flats-launched-largest-hdb-exercise
http://business.asiaone.com/property/news/more-9000-new-flats-launched-largest-hdb-exercise
My little kid is a good and hardworking researcher said that for $1300 to $1600 you can get a old freehold in Orchard Road.
He also give this advice...a nightmare for property agent....
See about 100 properties..
Narrow to 10 that you like and will commit.
Put offer for the best three that you want to buy and announce it loud to the agent.
Then pay the 1% to the best, bestest unit that you are going to spend for the rest of your life..
Sound Advice..?? sure it is because this is the largest and probably the only largest investment you are going to make in your life...
More than 9,000 new flats launched in largest HDB exercise
http://business.asiaone.com/property/news/more-9000-new-flats-launched-largest-hdb-exercise
Ah Run,
Looking at the sale of balance flats @ Toa Payoh Crest, the selling price of 3 room flats have been marked up by another $18,000 from the launch price in Nov 2012. As far as HDB concerned, property market is as good as it can be.
Also, looking at the particular units available, there are more than 30 units (3 room units) which has been previously selected, but are now available for sale again. Which means that more than 10% of buyers of the 3 room units have given up after selecting a flat earlier.
Not sure whether this is a normal phenomenon, or something more ominous.
G88 is very sharp.
I know a couple who gave up 25K deposit recently, not because quarrelled with wife.
HDB refunded a few thousands to the girl.
They told me that the resale 5-room HDB in their parents' tampines area dropped by 180K since they married 2 years ago. So they switched to buy a resale.
High land prices to blame for high property prices
Between 2008 to 2013, land value doubled from $310 to $656 per sq ft, or at a compounded 18.2 per cent increase a year, compared with price increase at 9 per cent for HDB and 5.2 per cent for private homes. ("Land costs 'outpaced rise in home prices'"; Sept 10, 2013). Land price to total house building cost ratio also rose to three-fifths, from two-fifths since 2008.
http://www.straitstimes.com/premium...nd-prices-blame-high-property-prices-20150528
Between 2008 to 2013, land value doubled from $310 to $656 per sq ft, or at a compounded 18.2 per cent increase a year, compared with price increase at 9 per cent for HDB and 5.2 per cent for private homes. ("Land costs 'outpaced rise in home prices'"; Sept 10, 2013). Land price to total house building cost ratio also rose to three-fifths, from two-fifths since 2008.
http://www.straitstimes.com/premium...nd-prices-blame-high-property-prices-20150528
Last edited:
Similar threads
