HDB resale flats still going strong!!!

[Qpik]

Aug 23, 2008 HDB resale market strong

Deals of more than $700K are still being done, with demand fuelled by PRs and new families. By Joyce Teo

WHILE sentiment in the private homes market remains gloomy, the market for Housing Board resale flats offers another story.

 

Deals of $700,000 and above are still being done this year, after 'record deals' of more than $700,000 first surfaced during last year's boom, though these are few and far between.

 

The good news for sellers is that prices continue to rise, pushing up valuations.

 

Volume is seen remaining healthy as home seekers continue to check out resale flats, largely oblivious to the credit crisis consuming the world, market watchers said.

 

Demand for HDB resale flats comes mostly from newly formed families and new permanent residents (PRs), they said.

 

Mr Leong Sze Hian, president of the Society of Financial Service Professionals, thinks that HDB prices are still rising because there is not enough supply to meet demand.

[Nkps]

Mr Leong Sze Hian, president of the Society of Financial Service Professionals, thinks that HDB prices are still rising because there is not enough supply to meet demand.

 

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Demand still high because the private property price is still high.

 

Private property price still high because, despite soft market, the seller are still very unrealistic.

 

Private property investor still very unrealistic because many of them on defered payment scheme, and the house is not yet T.O.P, they have not feel the pinch.

 

The pain will come on in few months time that's where 10,000 to 20,000 new unit T.O.P into the marker.

 

With the high rental rate, many tenant are shy away from private property, soon there will be less demand for private property and over supply.

 

Private rental will drop, investor thinking to use rental to offset repayment find not realistic.

 

They start to off load.

 

HDB prices will follow.

 

Thanks to US subprime.

 

[Shern25]

u property expert sia. u got make lots of money from property?

[Altisgt]

analyse sites and get those with en-bloc potential...sure to make$$$

[Hmsg]

for example???

[Testa_ross4]

This year hardly any enbloc sale, so even if you spot a potential, also not much use, unless you stay in it for long term.

[Skilled]

resale just keeps on rising and rising non stop

[Scratchy]

do u think pte property will go back to prices as in 2005??because if they will...sure hdb resale will go down accordingly...

[Hmsg]

wait a few years.... first private downgraders must go to hdb... so prices of hdb will be sustained for 1 - 2 years after private prices drop....

[Scratchy]

IMO with inflation, prices will go down but not to before.....there will be correction of pte housing....but historically , housing prices tend to trend upwards,...at least in sg context...hope i am proven wrong though...am waiting for it to be more affordable...

[Curahee]

Agree. Lack of supply. Damn it!!!

[Testa_ross4]

You expecting sub $1k psf high end condos again? I highly doubt so.

Edited August 24, 2008 by Testa_ross4

[Testa_ross4]

I thought he is saying oversupply coming.

[Nkps]

do u think pte property will go back to prices as in 2005??because if they will...sure hdb resale will go down accordingly...

 

i don't want to assume anything but what goes up muz come down, is only coming down by how much.

 

don't ever think property price in singapore can only goes up, there are history for reference, during the peak of 1996 and 1997, people pay top $$$ for bishan flat, now what? some of them have not even breakeven even they sell now. if HDB price will not come down, how come after 1997, so many people KPKB?

 

but then, there are many fctor that will caused the property price to goes up/ down.

[Curahee]

Oversupply of BTO flat....

[Albeniz]

Aug 23, 2008 HDB resale market strong

Deals of more than $700K are still being done, with demand fuelled by PRs and new families. By Joyce Teo

 

...

Demand for HDB resale flats comes mostly from newly formed families and new permanent residents (PRs), they said.

 

Mr Leong Sze Hian, president of the Society of Financial Service Professionals, thinks that HDB prices are still rising because there is not enough supply to meet demand.

 

Not enough supply to meet demand?

It is so easy for PRs to buy HDB flats here. Two brother PRs can combine name to buy one HDB unit. They just need to have money.

 

I know of a rich Indonesian family who already has a condo here, yet bought a 5-room HDB flat at Bishan (for $600k). They just need to combine 2 siblings' name to buy a HDB unit.

 

In a way, these people drive up the housing prices here.

Edited August 24, 2008 by Albeniz

[Qpik]

we r a capitalist driven society

[Veryfree]

SGeans = Japaneses = housing slaves.

funny thing is, we spend more time at work than at home.