Seaweed 1st Gear October 13, 2010 Share October 13, 2010 NV Residence 2 bedder - approx 800sqft - approx SGD700k - very good take up rate...more than 50% sold after first few days 3 bedder - approx 1000sqft - approx SGD800k - so so take up rate... The Esparina (EC) 2 bedder - approx 800+sqft - approx SGD630k - no one is buying..more than half is still available after the first few days 3 bedder - approx 1000+sqft - approx 750k - almost full sold after first few days... My view : 1) anything above SGD800k for mass market will have rather high resistance...very obvious that unit above SGD800k are not moving fast 2) if you buy something for own stay...800+sqft is something that is barely sufficient...looking at the buying trend for Esparina EC 3) Those who buy a small private mass market still have a kind of speculative essence... Side track : Those mickey mouse unit (less than 600sqft) will only be for rental for sure...no one can live long in a mickey mouse house...so unless rental is good for mickey mouse unit...else their price will crash like mad that we having so much going TOP soon... ↡ Advertisement Link to post Share on other sites More sharing options...
Pufferfish1 Clutched October 13, 2010 Share October 13, 2010 i agree with the mickey mouse unit Link to post Share on other sites More sharing options...
Chewbacca 1st Gear October 13, 2010 Share October 13, 2010 My view: Don't buy any props right now.....I'm holding everything in reserve. Considering slowly offloading some stocks.... Link to post Share on other sites More sharing options...
Jamesc Hypersonic October 13, 2010 Share October 13, 2010 I hope you are right! I keep reading property will drop 50%, their price will crash like mad. I hope all of you are right but I will only believe it when I see it. Link to post Share on other sites More sharing options...
Chewbacca 1st Gear October 13, 2010 Share October 13, 2010 But I wonder if those Pasir Ris, Punggol area are good buy.... Ulu place right now, but....they got potential to grow only because they're undeveloped right now. You buy those matured estate, there will be little appreciation in price, other than the usual cyclical ones. You'll get good rental income, but little capital appreciation. The other way round for those ulu area. I guess it depends on the type of money you have? Hrmmmm. Link to post Share on other sites More sharing options...
Soya Supersonic October 13, 2010 Share October 13, 2010 Think there's more to that. Pasir Ris got plenty of EA flats and they are not all that old. If i choose to live in Pair Ris, i'd rather buy a 1500+ sq.ft 3+study EA and have plenty of spare change than a 1000sq.ft piegeon hole. For EC, 750k for a 1st timer is no joke. 20% d/p alone is $150k and that's quite a stretch for many in their 20s. For mickey mouse units, aiyo.....sure turn into chicken farm next time. Link to post Share on other sites More sharing options...
Pufferfish1 Clutched October 13, 2010 Share October 13, 2010 the market wont crash, just that can you imagine staying in a room that small and you pay such high price . there are still FT coming in so unless they are staying at the bus stop or outside istana the demand will still be there. price might change a bit Link to post Share on other sites More sharing options...
Jamesc Hypersonic October 13, 2010 Share October 13, 2010 However for the MM units I think we will see a 50% drop from asking price not selling price. People are asking $1400 psf for MM sub sale units in Geylang in the red light lorongs! I personally checked it out! So for the price to come down to $700 or $800 is very possible. But $1400 psf is the asking the price. The buyer bought from the developer for $800 - $900 only and I acnnot see it falling to $400 - $500. Bcos MM unit quantum is low, we get crazy prices for psf. Link to post Share on other sites More sharing options...
Toapayohkid 1st Gear October 13, 2010 Share October 13, 2010 i also find it crazy that mass condo in outskirts about $1000 psf. those mickey mouse units are meant for mice to stay in. crazy, if i rent also i dont want to rent so small units. Link to post Share on other sites More sharing options...
Wt_know Supersonic October 13, 2010 Share October 13, 2010 (edited) i just don't understand the fundamental. everyone says new condo is mickey mouse size, psf is high especially for 1st timer and their combine income is $10K for EC, property price is on the high side now, etc etc etc but each time when i turn on the TV, it's SOLD SOLD SOLD ... and oversubscribed. and of course from the property guru point of view (you know, those speak on tv, ceo of so-and-so company), it's the BEST time, price has stabilise and property will not crash. Edited October 13, 2010 by Wt_know Link to post Share on other sites More sharing options...
Seaweed 1st Gear October 13, 2010 Author Share October 13, 2010 "chicken farm"...I love the description.....!!!! At where my sister is staying in Boon Keng area...My bro-in-law was telling me he notice alot of sublet activities...there are so many in one house that some even got to wait for people to open the access to lift because there isn't enough access card for all.... Link to post Share on other sites More sharing options...
Mockngbrd Supersonic October 13, 2010 Share October 13, 2010 EC prices f-ed up... only for those that earn on comm.... Link to post Share on other sites More sharing options...
Seaweed 1st Gear October 13, 2010 Author Share October 13, 2010 ya...don't see how 10k hsehold income can do so much...and it is first timer !!! Link to post Share on other sites More sharing options...
Jamesc Hypersonic October 13, 2010 Share October 13, 2010 The gals chio or not? Link to post Share on other sites More sharing options...
Jamesc Hypersonic October 13, 2010 Share October 13, 2010 i just don't understand the fundamental. everyone says new condo is mickey mouse size, psf is high especially for 1st timer and their combine income is $10K for EC, property price is on the high side now, etc etc etc but each time when i turn on the TV, it's SOLD SOLD SOLD ... and oversubscribed. and of course from the property guru point of view (you know, those speak on tv, ceo of so-and-so company), it's the BEST time, price has stabilise and property will not crash. Its simple, people dun buy bcos the price is high. The price is high bcos people are buying! CEO and so and so selling property will have to say, price now stable etc cos if they say it gonna crash, no one will buy for them! Anyway property can only crash if we all sell our home and put up tents at ECP. Link to post Share on other sites More sharing options...
Maroon5 5th Gear October 13, 2010 Share October 13, 2010 for me i thk the main thing has to be how long is the current ppty rule going to stay...it may well disappear next year Link to post Share on other sites More sharing options...
Icedbs Turbocharged October 13, 2010 Share October 13, 2010 (edited) i also find it crazy that mass condo in outskirts about $1000 psf. those mickey mouse units are meant for mice to stay in. crazy, if i rent also i dont want to rent so small units. that's where you are wrong. Studio units are very sellable/rentable in Singapore. Two reasons: 1) Many expats, hippies, young PR , young rich students are in Singapore...and they are normally alone. Studio units appealed a lot to this group. 2) Baby boomers generation are near or past their retirement age.....many downsize to studio as their kids have already all move out and a studio is easier to maintain for an old couple. So when there is demand from the young and old group simultaneously, you have a market here that is quite popular. A great example is Alexis at Alexandra road. This development are nearly all studio units. It's about 1000-1100psf and it was sold out all by the first day. Almost every development I go to (and I go to a lot...it's a hobby thing. You guys like to see cars...I like to see houses)..studios are always the first one to sell out. Edited October 13, 2010 by Icedbs Link to post Share on other sites More sharing options...
Joseph22 Turbocharged October 13, 2010 Share October 13, 2010 ya...don't see how 10k hsehold income can do so much...and it is first timer !!! and the point here will show that those who complain that they got no money to pay for high cov one have the cash to pay for high Downpayment :angry: The truth about sandwich class been squeeze out of HDB. Its a big lie from them. ↡ Advertisement Link to post Share on other sites More sharing options...
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