Why many Sinkies will die if interest rate goes up....

[Poomer]

In my workplace, many sinkie old ladies still planning to buy condo as 2nd property now

Good luck to them. The market is fucking overpriced. New condos these days not much value. Older ones better.

 

[Robert Half]

Good luck to them. The market is fucking overpriced. New condos these days not much value. Older ones better.

Hmm ... the older ones you means those 99 years leasehold condo

 

[Poomer]

Hmm ... the older ones you means those 99 years leasehold condo

If you take a harder look at the market, you'll realise that some 30 yo freehold condos are cheaper than the brand new 99yo developments in the area. Also these days no more freehold le. Singapore Inc only giving out 103 years lease on land these days.

 

[peppertail]

If you take a harder look at the market, you'll realise that some 30 yo freehold condos are cheaper than the brand new 99yo developments in the area. Also these days no more freehold le. Singapore Inc only giving out 103 years lease on land these days.

Which freehold condo is that? And isn't the 103 year lease just something that came up in one development recently?

More specifics please.

 

[Poomer]

Which freehold condo is that? And isn't the 103 year lease just something that came up in one development recently?

More specifics please.

My bad, it should be 99 and 103 years.

Look at this 99 year condo, hedges park which is gonna TOP on 2015.

http://www.propertyguru.com.sg/project/hedges-park-condominium-20652

Then look at this FH condo, down the road which was completed in 2000.

http://www.propertyguru.com.sg/project/ballota-park-condo-526

The prices are around the same. per sq ft, Ballota park is cheaper by transacted prices and asking prices. Do the math lo, this is happening around Singapore, For a 15 year FH condo, the prices are on par with a brand new 99y leasehold condo. Imagine a 30 year old FH condo, with the associated wear, tear and old architecture, how much will they command on the market, as compared to brand new leasehold condo with beautiful curves.

 

[borom]

July 19, 2013
Rates on CDs Start to Rise
After six years of declines, some longer-term certificates of deposit are looking like better deals.....

By RUTH SIMON
Here is a rare piece of good news for savers: Some banks and credit unions are beginning to boost interest rates on long-term certificates of deposit........

The recent increases are notable because rates have been declining for roughly six years........

Stanford Federal Credit Union, in Palo Alto, Calif., has raised payouts on its four- and five-year CDs twice in the past two months..... now offers its best customers a rate of 2.2% on deposits of $100,000 or more........ .

Some analysts believe the market has hit a turning point. "From now on, we will see a gradual and very mild increase in deposit rates" that will accelerate in the middle of next year, says Dan Geller, executive vice president of Market Rates Insight.

Long-term interest rates began climbing in May amid concern that the Federal Reserve could start winding down its massive bond-buying program later this year. ....

Any increase in rates is likely to show up first in the form of higher payouts on longer-term CDs as banks seek to lock in the lowest rates possible for the longest term......

http://online.wsj.com/article/SB10001424127887323664204578609681812809770.html

No longer IF but a matter of WHEN
This is in line with Moody's downgrading of local banks.
Hopefully more FT's than locals suffer from losses in property investments, get sued by banks and run road.
I say hopefully because you never know what they will do to accommodate these precious FT's of theirs-maybe special repayment scheme for FT's who "help create jobs for locals"? Remember new citizens are special, as they are exempted from NS?
Its very tiring living in a place with so many José Mourinho.