Will property prices plunge soon?

[Narong Wongwan]

is 50% considered plunge? That happened in 1997/98.

But of course it will go up again. the question is wait how long. And do you have the holding power, like 10-15 years or even longer? If you are an flipper or speculator or over-levearged investor/owner, don't be the suay one when the music stops playing.

back then the PAP wasn't so vested in property prices..........now property prices is the be all and make all.....short of world war III you will never see 50% plunge. Currently prices are already artificially created by pappies......no reason they cannot keep doing it......so many tricks they havent employ yet.

pappies will sell their own mothers to stay in power.........let me list down what they can do in desperate attempt to prop up prices in case any crisis arise.

remove all current cooling measures
stop all land sales
change law to openly allow foreigners to own landed
zero down payment
50 years or longer loans
unsold private condos revamped to become shoebox apartments
entice foreigners to invest in properties for instant citizenship
allow foreigners to buy HDB flats
relax HDB income ceilings and criteria such as family nucleus
allow multiple HDB ownership

 

[theone]

yes governments cannot prevent property bubbles from bursting but pappies got advantage as sinkieland being so small and they control everything makes for easier manipulation........prices going up and up and current high prices also due to their manipulation.......from property GLCs, to the local banks, your CPF, land supply....they control it all.....change the law at their whim......any slight drop can be well mitigated.....no major drop plunge.

I do agree that they can manipulate it to a certain degree, but the essence of property bubbles is that they eventually burst. Just need a catalyst, and there are many out there teetering on the edge.

I think those who bought BTO flats should be alright since the quantum involved isn't too much, but those who overstretched themselves to buy overpriced resale HDBs and especially condos are in deep doo doo. I doubt pappies will do much to mitigate against any price drops for the latter group, and they shouldn't.

 

[theone]

In 2011 n 2012 i keep hearing prices will dropped. N been hearing that for God knows how long. But prices have been increasing. With the additional FTs coming in n low interest rates. I dont see how prices will drop unless fts dont come in. Interest rate goes up. Fdi does not come in. Singapore is a small place n everyone needs a roof over their heads. Land is finite. Dont think pap will allow it to happen.

Indeed, I share your frustration,... I believe we have the thieves over at the US Federal Reserve to thank for this prolonged suffering, and of course our dear pappies for allowing mortgage rates to stay so low, giving people the perception of affordability. Reality will eventually set in.

I reckon most of the FTs coming in are for construction and service industries, some PMETs, and a handful of high-valued talents for the financial industry. So how many of them can afford $3-5k rentals or $1.6m condos? Don't forget we're also seeing many PMETs pooling in to share one rental unit.

 

[oioi]

There are hundreds of to rent listings in many properties. Check out the Sail or Reflections for eg.

 

[Tuayapeh]

There are hundreds of to rent listings in many properties. Check out the Sail or Reflections for eg.

Would that be an accurate reflection?

I hope this stewpig contry realises that ever rising property prices without an overall corresponding enhancement in wages (and not just for thosevfucking useless ministers) will just mean certain misery and debt enslavement for sinkies....

Then again, maybe thats what exactlythe pap wants....people to get hopelessly stuck and saddled with massive debts here....so you cant leave or go anywhere else.....

 

[oioi]

i dont know whether the prices will plunge, but i do know that many properties are up for rental. many of them have been vacant for months. my cousin has her bedok reservoir condominium up for rental at $5K/month but has not found a tenant for past half year.

 

[BuiKia]

Many of those owning the private has holding power. It will take some time for it to come down but not easy.

 

[sunshinji]

Well, it depends from agent to agent and experience to experience. My father has had a good experience dealing with the property agent to acquire an hdb..I can say that the agent was a trustworthy one and that my father didn't feel cheated at any point of time during his purchase of an hdb..the property agent was contacted via the Property Guru portal..request you to check out the portal for different agents..