Private property prices... Up or Down?

[Enye]

But his trademark muahaha might cause him substantial votes

PAP already branded arrogant at times, that kind of laughter no need to say liao..........

These are desirable traits for miw

 

That's why he fits their requirements to a T

 

 

[Angcheek]

No. I am waiting for my house to be built.....

 

Have been living with my parents and then my MIL for the past 3 yrs after getting married.

 

 

 

ohhh married 3 yrs already .......... waaa so young ! 

[Ktglfc]

http://sbr.com.sg/residential-property/news/chart-day-new-home-prices-tick-luxury-home-sales-jump

New home prices tick up as luxury home sales jump

May 3, 2016

 

The median price per unit rose to $1.11 million.

 

Buyers forked out more cash to buy new homes in Q1. The median price of new condominiums sold during the quarter rose by 11.6% to $1.11 million, boosted by an uptick in luxury home deals.

 

According to CBRE, the higher prices recorded for Cairnhill Nine's units was probably a key factor behind the increase. Cairnhill nine was priced at around $2,400 psf and 65% of the units sold cost less than $2 million each.

 

 

A gradual reduction of the unsold inventory could be expected on back of limited new launches," said CBRE.

 

 

Looks like the market is able to tolerate the ABSD or TDSR ...

Everyone still rich and developer still able to sell and earn profits too ...

Garmen also happy too ...

 

Everyone happy and huat .... or is this the real picture ?

[tenyawph]

for a retiree if u can find a ground floor unit y not. quite near SGH n TB mkt is v good for all foods. not much upside to these unless garmen increase plot ratio alot n developer enbloc them, but coz theyre not condo, suspect will require 100% of units to agree to enbloc, not d typical 80% for condos/apts. IMO d enbloc cycle is another 5-10yrs away.

 

buyers may also find it hard 2 apply for mortgage since its leasehold life isnt long left.

 

These flats (built during the pre-war days during 1936 to 1940 and almost 80 years old) are conserved, meaning that they cannot be torn down, and so they cannot be en-bloc for re-development.

 

 

I think the 5-600k ones are not conserved and still under HDB. They also have about 70 years lease left.

 

My MIL owns one of these and I am currently living there now. PITA because no lift!

 

The conservation flats are blocks 55,56,57,58,64,65,71,72,74,75,77,79,80,81,82.  Units size range from 520 sq ft to 1,150 sq ft.  The leases for these start from 1965 ~ 1967, when the government decided to sell them to individuals instead of renting them out. 

 

Are your staying in one of those blocks?  If yes, then your MIL owns a conserved flat which is privatised and is worth a lot more than the surrounding flats that are not conserved.

 

A check on the property guru for a typical 1,020 sq ft Tiong Bahr conserved unit shows an asking price of >$1M, comparable with the asking price for a relatively new Duxton Pinnacle flat.  Amazing, isn't it?

 

 

 

 

[Duckduck]

These flats (built during the pre-war days during 1936 to 1940 and almost 80 years old) are conserved, meaning that they cannot be torn down, and so they cannot be en-bloc for re-development.

 

 

 

The conservation flats are blocks 55,56,57,58,64,65,71,72,74,75,77,79,80,81,82.  Units size range from 520 sq ft to 1,150 sq ft.  The leases for these start from 1965 ~ 1967, when the government decided to sell them to individuals instead of renting them out. 

 

Are your staying in one of those blocks?  If yes, then your MIL owns a conserved flat which is privatised and is worth a lot more than the surrounding flats that are not conserved.

 

A check on the property guru for a typical 1,020 sq ft Tiong Bahr conserved unit shows an asking price of >$1M, comparable with the asking price for a relatively new Duxton Pinnacle flat.  Amazing, isn't it?

 

conservation LH =  value is depreciating every yr since abt 50yrs left. See d values of LH landed houses at geylang lorong 3 for eg... 

 

a good way to decide how to value them are those 30-60yr LH commercial props, high cap rates...

Edited May 3, 2016 by Duckduck

[Mercs]

Looks like the market is able to tolerate the ABSD or TDSR ...

Everyone still rich and developer still able to sell and earn profits too ...

Garmen also happy too ...

 

Everyone happy and huat .... or is this the real picture ?

Be it developer new sales or resales, the real picture is...

‘Willing Buyer, Willing Seller’ market. Otherwise, there would be no market at all

 

https://www.propwise.sg/is-it-really-a-buyers-market/

Is it Really a Buyers’ Market?

MAY 3, 2016

 

A decline in property transactions came after the 7th round of property cooling measures that saw a jump in the Additional Buyer’s Stamp Duty (ABSD), and a further reduction in Loan-to-Value ratios for property investors in January 2013. This was followed just five months later by the Total Debt Servicing Ratio (TDSR) loan framework that reduced transactions across all sectors.

 

Buyers are taking the opportunity of a slowing market to secure bargain deals. Some call it a ‘Buyers’ Market’ now.

 

But is it really a buyers’ market?

 

A property agent friend (let’s call him Agent A) who focuses in the Core Central Region shared this interesting story with me when he treated me at my favourite salad store. The sharing started after we overheard a couple sitting next to us debating on the fair price to pay to a car seller they would be meeting later that evening.

 

Agent A shared that his buyer(let’s call him Buyer A) put up a bid of $300,000 lesser than the asking price, when the recent transaction data showed $50,000to $80,000 less would be more acceptable.

 

Buyer A went to great lengths to provide all the supporting news articles and his chart depicting how dire the economy would be, and why the seller should accept his bid of $300,000lower than the asking price. This was despite Agent A highlighting numerous times that the seller (through his agent) had turned down a bid that was $200,000lower than his asking price.

 

Buyer A did not give up – he instructed Agent A to bypass the seller’s agent to bring his message to the seller. Agent A politely educated Buyer A that this was not the correct protocol.

 

Buyer A started to discredit Agent A for not acting in his interest and that he was not helping at all.

 

So whose market is it really?

 

It is true that the real estate market in Singapore is not as buoyant as during the period from 2007 to 2010.

 

It is also true that property buyers currently are able to pick the best property of their liking.

 

However, Buyer A adamantly stuck to his strong belief that as it was a ‘Buyers’ Market’, buyers have all the leverage, and he did not absorb any of the information provided to him.

 

The questions remain:

 

Was the buyer serious enough or in a hurry to make any purchase?

 

Was the seller serious enough or in a rush to make a sale or did he really think his asking price was fair?

 

So in a slow market, whose market is it?

 

In the end, it is a ‘Willing Buyer, Willing Seller’ market. Otherwise, there would be no market at all.

[Wt_know]

developer cry papa cry mama on newspaper ... but continue to up property price and make money ...

everyone shout sibei jialat ... but continue to buy ...

govt makan popcorn and watch the show ...

seems like everyone is happy leh ... huat ah!

 

Looks like the market is able to tolerate the ABSD or TDSR ...

Everyone still rich and developer still able to sell and earn profits too ...

Garmen also happy too ...

Everyone happy and huat .... or is this the real picture ?

 

Edited May 4, 2016 by Wt_know

[Spring]

Be it developer new sales or resales, the real picture is...

‘Willing Buyer, Willing Seller’ market. Otherwise, there would be no market at all

 

https://www.propwise.sg/is-it-really-a-buyers-market/

Is it Really a Buyers’ Market?

MAY 3, 2016

 

A decline in property transactions came after the 7th round of property cooling measures that saw a jump in the Additional Buyer’s Stamp Duty (ABSD), and a further reduction in Loan-to-Value ratios for property investors in January 2013. This was followed just five months later by the Total Debt Servicing Ratio (TDSR) loan framework that reduced transactions across all sectors.

 

Buyers are taking the opportunity of a slowing market to secure bargain deals. Some call it a ‘Buyers’ Market’ now.

 

But is it really a buyers’ market?

 

A property agent friend (let’s call him Agent A) who focuses in the Core Central Region shared this interesting story with me when he treated me at my favourite salad store. The sharing started after we overheard a couple sitting next to us debating on the fair price to pay to a car seller they would be meeting later that evening.

 

Agent A shared that his buyer(let’s call him Buyer A) put up a bid of $300,000 lesser than the asking price, when the recent transaction data showed $50,000to $80,000 less would be more acceptable.

 

Buyer A went to great lengths to provide all the supporting news articles and his chart depicting how dire the economy would be, and why the seller should accept his bid of $300,000lower than the asking price. This was despite Agent A highlighting numerous times that the seller (through his agent) had turned down a bid that was $200,000lower than his asking price.

 

Buyer A did not give up – he instructed Agent A to bypass the seller’s agent to bring his message to the seller. Agent A politely educated Buyer A that this was not the correct protocol.

 

Buyer A started to discredit Agent A for not acting in his interest and that he was not helping at all.

 

So whose market is it really?

 

It is true that the real estate market in Singapore is not as buoyant as during the period from 2007 to 2010.

 

It is also true that property buyers currently are able to pick the best property of their liking.

 

However, Buyer A adamantly stuck to his strong belief that as it was a ‘Buyers’ Market’, buyers have all the leverage, and he did not absorb any of the information provided to him.

 

The questions remain:

 

Was the buyer serious enough or in a hurry to make any purchase?

 

Was the seller serious enough or in a rush to make a sale or did he really think his asking price was fair?

 

So in a slow market, whose market is it?

 

In the end, it is a ‘Willing Buyer, Willing Seller’ market. Otherwise, there would be no market at all.

If this is a true story, I find the buyer really ridiculous. He sounds more desperate than the seller n still got the cheek to say it's a buyer's market. If he really believes what he proclaims then he would have no problem getting another unit easily since as he says it's a buyer's market, crazy this guy!!

 

Like what u rightfully pointed out its neither a buyer's not seller's market but rather a willing buyer, willing seller one. There are bargains if u sniff it out but there are also properties still being sold at high prices as well!!

[Showster]

Main thing is whether you can envisage the govt begging people (anyone local or foreign) to buy second and subsequent properties. Or you trust that the supply is ultimately limited relative to real demand and there should be regulations over multiple purchases.

 

If one trusts the former, then he or she does not have much confidence in SG and is unlikely to invest in it even for a first home.

 

If it is the latter, then there can only be more regulations coming down the road.

 

 

developer cry papa cry mama on newspaper ... but continue to up property price and make money ...

everyone shout sibei jialat ... but continue to buy ...

govt makan popcorn and watch the show ...

seems like everyone is happy leh ... huat ah!

Such "buyers" are real alright. I have posted before. They go to a fish stall but the main intention is to buy veggie. Only if the fish stall sell way below cost price then they will buy.

 

If this is a true story, I find the buyer really ridiculous. He sounds more desperate than the seller n still got the cheek to say it's a buyer's market. If he really believes what he proclaims then he would have no problem getting another unit easily since as he says it's a buyer's market, crazy this guy!!

 

Like what u rightfully pointed out its neither a buyer's not seller's market but rather a willing buyer, willing seller one. There are bargains if u sniff it out but there are also properties still being sold at high prices as well!!

[Ben5266]

If this is a true story, I find the buyer really ridiculous. He sounds more desperate than the seller n still got the cheek to say it's a buyer's market. If he really believes what he proclaims then he would have no problem getting another unit easily since as he says it's a buyer's market, crazy this guy!!

 

Like what u rightfully pointed out its neither a buyer's not seller's market but rather a willing buyer, willing seller one. There are bargains if u sniff it out but there are also properties still being sold at high prices as well!!

Sounds quite similar to the COE topic. A lot of charts to show trend of declining COE premium.

[Icedbs]

Be it developer new sales or resales, the real picture is...

‘Willing Buyer, Willing Seller’ market. Otherwise, there would be no market at all

 

https://www.propwise.sg/is-it-really-a-buyers-market/

Is it Really a Buyers’ Market?

MAY 3, 2016

 

A decline in property transactions came after the 7th round of property cooling measures that saw a jump in the Additional Buyer’s Stamp Duty (ABSD), and a further reduction in Loan-to-Value ratios for property investors in January 2013. This was followed just five months later by the Total Debt Servicing Ratio (TDSR) loan framework that reduced transactions across all sectors.

 

Buyers are taking the opportunity of a slowing market to secure bargain deals. Some call it a ‘Buyers’ Market’ now.

 

But is it really a buyers’ market?

 

A property agent friend (let’s call him Agent A) who focuses in the Core Central Region shared this interesting story with me when he treated me at my favourite salad store. The sharing started after we overheard a couple sitting next to us debating on the fair price to pay to a car seller they would be meeting later that evening.

 

Agent A shared that his buyer(let’s call him Buyer A) put up a bid of $300,000 lesser than the asking price, when the recent transaction data showed $50,000to $80,000 less would be more acceptable.

 

Buyer A went to great lengths to provide all the supporting news articles and his chart depicting how dire the economy would be, and why the seller should accept his bid of $300,000lower than the asking price. This was despite Agent A highlighting numerous times that the seller (through his agent) had turned down a bid that was $200,000lower than his asking price.

 

Buyer A did not give up – he instructed Agent A to bypass the seller’s agent to bring his message to the seller. Agent A politely educated Buyer A that this was not the correct protocol.

 

Buyer A started to discredit Agent A for not acting in his interest and that he was not helping at all.

 

So whose market is it really?

 

It is true that the real estate market in Singapore is not as buoyant as during the period from 2007 to 2010.

 

It is also true that property buyers currently are able to pick the best property of their liking.

 

However, Buyer A adamantly stuck to his strong belief that as it was a ‘Buyers’ Market’, buyers have all the leverage, and he did not absorb any of the information provided to him.

 

The questions remain:

 

Was the buyer serious enough or in a hurry to make any purchase?

 

Was the seller serious enough or in a rush to make a sale or did he really think his asking price was fair?

 

So in a slow market, whose market is it?

 

In the end, it is a ‘Willing Buyer, Willing Seller’ market. Otherwise, there would be no market at all.

 

This has nothing to do with market. This is just another "possible" buyer trying his luck by low-balling an offer.

 

Such people are everywhere. They don't care about being fair or ethics in a deal. Just want big win for themselves.

 

 

[Still2016]

"Residents of The Seaview condominium just lost their case against the developer, the architect and the main contractor for $32 million worth of defects. The court decided that all three parties were not liable for the negligent acts of the independent contractors.

 

That implies, in the future if a developer and its main contractor refuse to rectify the defects of their projects, the buyers can only go after the many independent subcontractors one by one.

 

I also didn’t tell her that, in general Singaporeans are sophisticated customers and know their consumer rights, though they can react differently depending on situations.

 

We can spend $50 in a restaurant and complain about the bad service. We can ask for a full refund of a $500 electric appliance because it is not working properly. We can demand a discount off a $5,000 tour package because it doesn’t go to all the sightseeing places as promised.

 

But when we buy a $1.5 million property with a $1.2 million loan payable for the next 30 years, being one out of hundreds of owners in the same project, our bargaining power is very low."

 

Note: Quoted from a website.

 

 

Would it be true that buying for own use or investment of property is very risky nowadays? Has this affect the property price or property market?

 

Wondered if anybody had any personal experience to share.

 

 

[Blueray]

don't buy property under construction lor ... wait until 6 months after TOP.

[Showster]

don't buy property under construction lor ... wait until 6 months after TOP.

Technically yes, but seller usually still under SSD period and not likely to be selling. Few units available or priced very high.

[Showster]

Its true that some developers did cut some corners here and there due to cost and pricing constraints.

 

But Sea View case was really, really weird. Most recent transactions still ranged from 1mil (52sqm, 1.8kpsf) to 2.2mil (131sqm, 1.5kpsf) to 3mil (153sqm, 1.8kpsf). If it was really that bad, why would people still pay those kind of prices???

 

There are bound to be some defects everywhere but the situation is over-exaggerated. There is also the "warranty" period that covers basic defects. Structural defects, the developer is still liable even after the warranty period. The tricky part of course is the sub-contractors' liability I agree. But in any case, do you doubt the safety of buildings in Singapore as compared to Taiwan or China?

 

In any case, the person who wrote this article was also trying to make ends meet, writing books, working with defect inspectors to sell service, deliver seminars for a "nominal" price, after the last few years of not being able to re-enter the market at targeted price level after exiting... Live and let live...

 

 

"Residents of The Seaview condominium just lost their case against the developer, the architect and the main contractor for $32 million worth of defects. The court decided that all three parties were not liable for the negligent acts of the independent contractors.

 

That implies, in the future if a developer and its main contractor refuse to rectify the defects of their projects, the buyers can only go after the many independent subcontractors one by one.

 

I also didn’t tell her that, in general Singaporeans are sophisticated customers and know their consumer rights, though they can react differently depending on situations.

 

We can spend $50 in a restaurant and complain about the bad service. We can ask for a full refund of a $500 electric appliance because it is not working properly. We can demand a discount off a $5,000 tour package because it doesn’t go to all the sightseeing places as promised.

 

But when we buy a $1.5 million property with a $1.2 million loan payable for the next 30 years, being one out of hundreds of owners in the same project, our bargaining power is very low."

 

Note: Quoted from a website.

 

 

Would it be true that buying for own use or investment of property is very risky nowadays? Has this affect the property price or property market?

 

Wondered if anybody had any personal experience to share.

 

[Mockngbrd]

Main thing is whether you can envisage the govt begging people (anyone local or foreign) to buy second and subsequent properties. Or you trust that the supply is ultimately limited relative to real demand and there should be regulations over multiple purchases.

 

If one trusts the former, then he or she does not have much confidence in SG and is unlikely to invest in it even for a first home.

 

If it is the latter, then there can only be more regulations coming down the road.

 

 

 

Such "buyers" are real alright. I have posted before. They go to a fish stall but the main intention is to buy veggie. Only if the fish stall sell way below cost price then they will buy.

 

that one is not buyers' market article , is low-ballers' market 

[Throttle2]

This has nothing to do with market. This is just another "possible" buyer trying his luck by low-balling an offer.

 

Such people are everywhere. They don't care about being fair or ethics in a deal. Just want big win for themselves.

 

Yup and an idiot at that.

[Wt_know]

pecah lobang liao !!!

divorce still can transfer ...

 

Transfer Of HDB Flat Ownership No Longer Allowed Except For Special Cases

Edited May 4, 2016 by Wt_know