Mercs: property news & updates

[Mercs]

On 11/4/2023 at 12:11 AM, Volvobrick said:

Median private property ie medium of the top 20% vs their median of 100% (assuming they have only private and negligible public housing) . Not apple to apple comparison. 

Comparison only based on private, here's the report- https://asia.uli.org/uli-releases-2023-asia-pacific-home-attainability-index-covering-data-from-45-cities/

 

According to the report, Singapore’s private sector homes have surpassed Hong Kong SAR as the most expensive in the region with a median price of US$1.2 million. Also, with a nearly 30% increase in monthly rent, Singapore private sector rental homes are also the most expensive in the region with a median monthly rent of approximately US$2,600

 

Hong Kong SAR: Home prices dropped substantially in 2022, returning to 2017 prices, mainly caused by a drop in population and a rising mortgage interest rate.

 

 

[Mercs]

On 11/4/2023 at 12:33 AM, 13177 said:

Newly MOP units surely higher price due to 5 year old only. For current resale market for a 5 year old flat even for not so good location, for a 3 rm, cheapest also can sell around $400k plus, these units usually are due to low floor. For mid floor and high floor, pricing at least $450k and above.

That is why as mentioned previously - always BTO99 for the win. Whenever possible and if have the time to wait this offers the best option - cheaper, brand new, long lease.

When buying newly MOP units have to pay a premuim in price in exchange for no build up waiting time, so when talking affordability is either that (new bto) wait, or older (40-50yrs) resales no need wait.

Edited November 3, 2023 by Mercs

[13177]

On 11/4/2023 at 12:48 AM, Mercs said:

That is why as mentioned previously - always BTO99 for the win. Whenever possible and if have the time to wait this offers the best option - cheaper, brand new, long lease.

When buying newly MOP units have to pay a premuim in price in exchange for no build up waiting time, so when talking affordability is either that (new bto) wait, or older (40-50yrs) resales no need wait.

So extreme options. Either buy brand new BTO or 40-50 years old flat. 😅 Thought if buy resale, even don’t buy those newly MOP units, but also don’t buy so old resale hdb?! At least buy those between 15 years to 30 years? 

[Mercs]

On 11/4/2023 at 10:54 AM, 13177 said:

So extreme options. Either buy brand new BTO or 40-50 years old flat. 😅 Thought if buy resale, even don’t buy those newly MOP units, but also don’t buy so old resale hdb?! At least buy those between 15 years to 30 years? 

Those are more affordable options price entry point, young age hdb resales tend to be higher price.

Yes, if budget allows at least 70yrs remaining lease to be safe (15-30yrs type) to retain value future fund retirement or bequeath.

Those bought already 40-50yrs type probably will stay till run out date, though all is not lost there are still options. Example after stay 20-30yrs later if have alternate housing eg: another pte for own stay can rent out remaining years with great yield or SERs (less than 5% chance).

Just my thoughts no precedent to those remaining 20-30yrs lease type hdb dunno if by then if still can sell and at what price.

Only one thing is sure ... lease run to 0 value also 0. 🤣🤣🤣

Edited November 4, 2023 by Mercs

[Mercs]

On 11/1/2023 at 11:45 PM, Mercs said:

The J'den should be hot ... if developer price it right ... probably launch weekend near soldout.

 

 

 

 

 

[Mercs]

https://www.edgeprop.sg/property-news/more-homes-downtown-core-after-redevelopment-marina-square

More homes in Downtown Core after the partial redevelopment of Marina Square

https://www.edgeprop.sg/property-news/four-bedder-marina-bay-residences-sold-24-mil-loss

Four-bedder at Marina Bay Residences sold at $2.4 mil loss

https://www.edgeprop.sg/property-news/pullman-residences-newton-records-new-high-3729-psf

Pullman Residences Newton records new high of $3,729 psf

https://www.edgeprop.sg/property-news/residential-transactions-contracts-dated-oct-17-24-done-deals

Residential transactions with contracts dated Oct 17 to 24 [DONE DEALS]

 

 

 

 

[Mercs]

What the ..... 🤣🤣🤣

 

https://mustsharenews.com/tanglin-pig-house/

Tanglin Pig House Has Massive Hog Head Entrance, Looks Like Where Peppa Would Stay

 

 

 

 

[Mercs]

Still think property price gonna drop?  'no number 1 no talk!' 🤣🤣🤣

 

https://theindependent.sg/singapore-tops-list-of-worlds-richest-countries/#google_vignette

Singapore tops list of world’s richest countries

 

"Singapore has clinched the coveted title of the world’s richest country, according to an index published by financial website Insider Monkey. The rankings use per capita gross domestic product (GDP) figures to measure the prosperity levels of nations worldwide.

With a per capita GDP of S$215,512, Singapore comfortably secured the top spot in this ranking, outstripping all other nations."

 

https://www.insidermonkey.com/blog/worlds-5-richest-countries-by-gdp-ppp-per-capita-1202348/?singlepage=1#google_vignette

Edited November 5, 2023 by Mercs

[13177]

On 11/5/2023 at 11:23 PM, Mercs said:

Still think property price gonna drop?  'no number 1 no talk!' 🤣🤣🤣

 

https://theindependent.sg/singapore-tops-list-of-worlds-richest-countries/#google_vignette

Singapore tops list of world’s richest countries

 

"Singapore has clinched the coveted title of the world’s richest country, according to an index published by financial website Insider Monkey. The rankings use per capita gross domestic product (GDP) figures to measure the prosperity levels of nations worldwide.

With a per capita GDP of S$215,512, Singapore comfortably secured the top spot in this ranking, outstripping all other nations."

 

https://www.insidermonkey.com/blog/worlds-5-richest-countries-by-gdp-ppp-per-capita-1202348/?singlepage=1#google_vignette

Singapore tops list of world’s richest countries, only for the rich people. It doesn't benefit many people. The commoners are struggling with life. 🙄

[Spidey10]

On 11/6/2023 at 8:54 AM, 13177 said:

Singapore tops list of world’s richest countries, only for the rich people. It doesn't benefit many people. The commoners are struggling with life. 🙄

[Mercs]

On 11/6/2023 at 8:54 AM, 13177 said:

Singapore tops list of world’s richest countries, only for the rich people. It doesn't benefit many people. The commoners are struggling with life. 🙄

Thats why can never stress enough the importance of having a longer lease, which would then provide the most basic plan B options as near 90% are hdb owners, with majority it being their one and only most valuable asset- eg: 1) sell to rightsize smaller 2) lease buyback 3) rent out etc.

Also with most using CPF to fund, if selling preferably do so by age55 to FRS/ERS ready for cpf Life at 65-70. Not having to worry about $ at retirement ... priceless.

 

[Mercs]

https://www.edgeprop.sg/property-news/first-gls-site-toa-payoh-eight-years-attracts-968-mil-bid-cdl-frasers-property-and-sekisui-house

First GLS site in Toa Payoh in eight years attracts $968 mil bid from CDL, Frasers Property, and Sekisui House

https://www.edgeprop.sg/property-news/clementi-avenue-1-gls-site-receives-six-bids-highest-bid-1250-psf-ppr

MCL Land and CSC Land JV submit highest bid of $1,250 psf ppr for Clementi Avenue 1 GLS site

https://www.edgeprop.sg/property-news/sinarmas-land-and-mcl-land-submit-highest-bid-1223-psf-ppr-pine-grove-parcel-b

Sinarmas Land and MCL Land submit highest bid of $1,223 psf ppr for Pine Grove Parcel B

 

https://www.asiaone.com/money/high-costs-selling-property-singapore-heres-whats-happening-ground

The high costs of selling a property in Singapore: Here's what's happening on the ground

 

https://sbr.com.sg/residential-property/news/expert-lays-out-pros-and-cons-flats-in-new-housing-estates

Expert lays out pros and cons of flats in new housing estates

 

https://www.straitstimes.com/business/property/some-younger-home-owners-prefer-hdb-resale-flats-that-offer-bigger-living-spaces-more-amenities

Some younger home owners prefer HDB resale flats that offer bigger living spaces, more amenities

 

https://stackedhomes.com/editorial/i-regret-buying-a-2-bedder-condo-5-young-couples-share-their-biggest-regrets/

https://stackedhomes.com/editorial/heres-why-these-condos-lost-money-despite-buying-at-a-property-market-low/

https://stackedhomes.com/editorial/when-my-condo-maintenance-bill-tripled-a-cautionary-tale-for-future-condo-buyers/

 

 

 

[13177]

On 11/8/2023 at 12:41 AM, Mercs said:

Thats why can never stress enough the importance of having a longer lease, which would then provide the most basic plan B options as near 90% are hdb owners, with majority it being their one and only most valuable asset- eg: 1) sell to rightsize smaller 2) lease buyback 3) rent out etc.

Also with most using CPF to fund, if selling preferably do so by age55 to FRS/ERS ready for cpf Life at 65-70. Not having to worry about $ at retirement ... priceless.

 

Even sell after age 55 maybe still ok, if the person is buying the 2 rm flexi short-term lease. Esp since only age 55 then can apply for such flat. But if sell to buy another normal type of resale flat, indeed better to do it before age 55.

[Mercs]

On 11/8/2023 at 10:34 AM, 13177 said:

Even sell after age 55 maybe still ok, if the person is buying the 2 rm flexi short-term lease. Esp since only age 55 then can apply for such flat. But if sell to buy another normal type of resale flat, indeed better to do it before age 55.

Preferably 55 but not all same so depend on individual requirement, key is not be asset rich cash/cpf poor.

Cpf funds back for FRS, SA shielding, after purchase excess OA park at SSB or Tbills etc.

[Mercs]

Yet another new record - 'no 1 mil no talk!'

https://www.asiaone.com/money/hdb-flat-ubi-61-years-remaining-lease-sold-record-106-million

HDB flat in Ubi with 61 years remaining lease sold for record $1.06 million

 

🤣🤣🤣

https://mustsharenews.com/yishun-least-desirable/

Yishun Voted The Least Desirable Place To Live In S’pore, Pasir Ris Rated Best: Poll

 

https://www.edgeprop.sg/property-news/four-bedder-sea-view-sold-27-mil-profit

Four-bedder at The Sea View sold at $2.7 mil profit

https://www.edgeprop.sg/property-news/luxury-residential-sales-plunge-3q2023-leasing-demand-rises-huttons-asia

Luxury residential sales plunge in 3Q2023; leasing demand rises

 

https://www.businesstimes.com.sg/property/singapore-face-first-rental-slump-four-years

Singapore to face first rental slump in four years

 

https://stackedhomes.com/editorial/is-sell-one-buy-two-finally-dead-in-the-singapore-property-market/

 

 

 

[13177]

On 11/8/2023 at 11:59 PM, Mercs said:

Yet another new record - 'no 1 mil no talk!'

https://www.asiaone.com/money/hdb-flat-ubi-61-years-remaining-lease-sold-record-106-million

HDB flat in Ubi with 61 years remaining lease sold for record $1.06 million

 

 

Ubi also can have $1mill resale HDB! 37 year old flat still can fetch such pricing! This unit does not say near to MRT and seems like near to an expressway. The article mentioned the previous owner had spent a whopping $200,000 renovating the unit before moving in. The new buyers can move in directly and thus save money on renovation costs. Many owners who have spent expensive reno, and when they sell their house, they pass this reno cost to the buyer, really speechless.

[Mercs]

On 11/9/2023 at 10:37 AM, 13177 said:

Ubi also can have $1mill resale HDB! 37 year old flat still can fetch such pricing! This unit does not say near to MRT and seems like near to an expressway. The article mentioned the previous owner had spent a whopping $200,000 renovating the unit before moving in. The new buyers can move in directly and thus save money on renovation costs. Many owners who have spent expensive reno, and when they sell their house, they pass this reno cost to the buyer, really speechless.

Norm now anywhere also can be 'no 1mil nk talk' for big units- eg: maisonette, jumbo etc -https://www.asiaone.com/money/most-expensive-woodlands-hdb-flat-sold-over-1-million-whopping-220k-more-unit-3-floors-down

One reason probably due to covid WFH, many now come to realise the importance of having bigger space. Thats why as mentioned previously for BTO always go for the biggest can afford = the bigger the more huat future.

Me personally would not pay extra for reno which may not be to my taste, but some may like the convenience of not having to do it no waiting time can move in asap.

 

One more again yet another new record, this one 'no 1.5mil no talk!' 🤣

https://mustsharenews.com/toa-payoh-dbss-hdb-record/

Toa Payoh Top-Floor DBSS Unit Sells For S$1.56 Million, Sets New HDB Resale Record

[Mercs]

https://www.99.co/singapore/insider/hdb-resale-october-2023-flash-report/

HDB resale market sees price increase and high-value transactions in October 2023