Mercs: property news & updates

Mercs · September 2, 2023

Mercs · September 2, 2023

On 8/16/2023 at 12:54 AM, 13177 said:

I still curious to know how those early 20s can earn such a high pay if not given by rich father lo. Even nowadays many in their mid to late 20s also earning high pay, don't know what job is that.

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https://www.cnbc.com/2023/08/31/22-year-old-earns-194k-a-year-as-a-software-engineer-at-google.html

This 22-year-old earns $194,000 at Google and aims to retire by 35—how he spends his money

"Looking ahead

To reach his $5 million goal, Nguonly plans to continue investing in his retirement accounts and adding to his real estate portfolio. He hopes to buy a new property every couple of years.

Although he knows firsthand how difficult it can be to manage rental properties, he’s up for the challenge. He sees real estate investments as a way to eventually bring in mostly passive income. “Even though I’m successful now, there’s always more for me to shoot for,” he says."

https://player.cnbc.com/p/gZWlPC/cnbc_global?playertype=synd&byGuid=7000313692

Rskc · September 3, 2023

On 8/31/2023 at 1:15 AM, 13177 said:

Not only Pinnacle owners are all millionaires, even those owners in Queenstown, esp those HDB that are built for Tanglin Halt SERS, saw quite many units that are selling on the resale market now, asking price $1m. Even a 3 rm flat also can sell at high $800k! These ex tanglin halt residents really huat from the SERS.

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In the grand scheme of things, overall property mkt has risen due to inflation and tight supply, not only pinnacle. If punggol resale 5rm hdb is now selling at 800k, Pinnacle, being right in middle of town with 4 mrt lines and major medical hub, 1.4m suddenly looks "reasonable" in comparison. Punggol was only 500+k few years back before pandemic. 😅😊

Mercs · September 3, 2023

September 4, 2023

On 9/3/2023 at 4:26 AM, Rskc said:

In the grand scheme of things, overall property mkt has risen due to inflation and tight supply, not only pinnacle. If punggol resale 5rm hdb is now selling at 800k, Pinnacle, being right in middle of town with 4 mrt lines and major medical hub, 1.4m suddenly looks "reasonable" in comparison. Punggol was only 500+k few years back before pandemic. 😅😊

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Agreed, when i see those ''ulu'' location which is far from town or not near to MRT still can fetch 800k or more. I really don't know what is happening. Even risen inflation and tight supply also very crazy to be able to sell at such ridiculous price for such location. These resale flats simply not reasonable priced, and really anyhow de.

inlinesix · September 4, 2023

On 9/4/2023 at 12:38 AM, 13177 said:

Agreed, when i see those ''ulu'' location which is far from town or not near to MRT still can fetch 800k or more. I really don't know what is happening. Even risen inflation and tight supply also very crazy to be able to sell at such ridiculous price for such location. These resale flats simply not reasonable priced, and really anyhow de.

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Like that my are@ $900+k is “cheap”

🤭

Mercs · September 4, 2023

https://www.asiaone.com/singapore/landlady-hell-woman-evicts-tenant-pulls-out-knife-after-he-requests-deposit-back

Landlady from hell? Woman evicts tenant, pulls out knife after he requests deposit back

https://www.asiaone.com/money/our-landlord-will-likely-raise-our-rent-soon-should-we-buy-forever-home-now-or-invest-condo

Our landlord will likely raise our rent soon: Should we buy a forever home now or invest in a condo first while renting?

https://www.asiaone.com/money/surprising-lifespan-freehold-and-leasehold-condos-singapore-what-age-do-most-condos-go-en

The surprising lifespan of freehold and leasehold condos in Singapore: What age do most condos go en-bloc?

https://sbr.com.sg/residential-property/news/why-rents-rose-faster-in-suburban-condos-rents-in-july

Why rents rose faster in suburban condos rents in July

https://sbr.com.sg/residential-property/exclusive/properties-promoting-live-work-and-play-gain-popularity-in-singapore

Properties promoting ‘live, work and play’ gain popularity in Singapore

https://www.businesstimes.com.sg/opinion-features/what-if-latest-lentor-housing-site-sells-well-below-nearby-plots-thats-no-bad

What if the latest Lentor housing site sells for well below nearby plots? That’s no bad thing

https://stackedhomes.com/editorial/singapores-worst-rated-condos-on-google-are-they-really-that-bad/

https://stackedhomes.com/editorial/5-more-affordable-little-known-freehold-landed-estates-prices-from-2-55-million/

https://stackedhomes.com/editorial/5-cheapest-5-room-hdb-flats-below-550k-near-an-mrt/

Mercs · September 4, 2023

On 8/25/2023 at 4:06 PM, Mercs said:

Yes, with healthy lease bal buyback is an option but me not a fan of this scheme, once do lease buyback can no longer sell open market have to return hdb at value determined by them calculated by whatever lease that's left, even if intention is forever home, better to pass on a valuable appreciating asset rather than one of depreciating value.

Most affordable option still BTO for fresh 99, if the hdb is the only sole property primary residence, once nearing the 40yr mark time to consider applying for a new BTO and if successful upon key collection still have 6mths to dispose existing reno the new more than sufficient time for a smooth transition. Having said that some things can't be measured by $ eg: good neighbourly friends, familiarity to the area, convenience, memories etc.

"Looks like no matter buy old, newly MOP or new BTO, we are screwed" - Expensive SG, which is why the often mentioned 'always ideal to stay vested' to hedge against property price increase. 😉

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@13177

https://stackedhomes.com/editorial/this-unpopular-scheme-may-be-the-secret-to-retiring-in-your-hdb-what-the-lease-buyback-scheme-is-all-about/#gs.5a8tgx

September 5, 2023

On 9/4/2023 at 2:36 AM, inlinesix said:

Like that my are@ $900+k is “cheap”

🤭

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Maybe lo. That's why $1m+ at Pinnacle is 'cheap' since the location is inside cbd area. Esp when some ulu location also can sell at $1m. 😅

September 5, 2023

On 9/4/2023 at 4:48 PM, Mercs said:

@13177

https://stackedhomes.com/editorial/this-unpopular-scheme-may-be-the-secret-to-retiring-in-your-hdb-what-the-lease-buyback-scheme-is-all-about/#gs.5a8tgx

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I feel that if a person does not plan to use their current flat on the LBS, then no need to buy a fresh HDB or HDB with long lease. I always think what the point is having to stay in a new HDB with an ulu location when you go out also feel stressful or tired from the commuting on the public transport or driving. However, each to his/her own, ultimately the person must be happy no matter where he/she stays la. No need to bother so much on what other people say.

Mercs · September 5, 2023

On 9/5/2023 at 12:37 AM, 13177 said:

I feel that if a person does not plan to use their current flat on the LBS, then no need to buy a fresh HDB or HDB with long lease. I always think what the point is having to stay in a new HDB with an ulu location when you go out also feel stressful or tired from the commuting on the public transport or driving. However, each to his/her own, ultimately the person must be happy no matter where he/she stays la. No need to bother so much on what other people say.

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Agreed, that's why diff strokes diff folks, do what suit the family best.

If can afford nothing wrong with paying record price 1.5mil for a 50yr old hdb in Tiong Bahru. 🤣🤣🤣

On 8/28/2023 at 3:39 PM, Mercs said:

Definitely, diff strokes diff folks. Most dun care much about value if intention to stay till end further more if got no one to pass down. Rather than doing lease buyback, a healthy remaining lease provide options, acting as a last line of defence to fund retirement, eg: can sell with profits rightsize smaller unit with Silver Housing Bonus - https://www.hdb.gov.sg/residential/living-in-an-hdb-flat/for-our-seniors/monetising-your-flat-for-retirement/silver-housing-bonus , for medical fees or use the funds go travel the world enjoy the last mile of life. 🙂

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Mercs · September 5, 2023

https://www.edgeprop.sg/property-news/singapore-sets-higher-benchmarks-targets-super-rich-investors

Singapore sets higher benchmarks, targets the super-rich investors

https://www.edgeprop.sg/property-news/tender-launched-gls-site-lorong-1-toa-payoh

Tender launched for GLS site at Lorong 1 Toa Payoh

https://www.straitstimes.com/singapore/housing/first-in-8-years-toa-payoh-residential-site-up-for-sale-to-private-developers

https://stackedhomes.com/editorial/this-singaporean-sold-his-forest-city-home-for-an-unlikely-profit-heres-how-he-narrowly-escaped-the-doomed-project/

https://mustsharenews.com/telok-blangah-flat-million/

4-Room Telok Blangah Flat Sold For S$1.1M Has Huge Master Bedroom & View Of Keppel Bay

Edited September 5, 2023 by Mercs
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Mercs · September 6, 2023

https://stomp.straitstimes.com/singapore-seen/this-punggol-flat-shows-what-happens-when-you-rent-out-your-house-to-the-wrong

This Punggol flat shows what happens when you rent out your house to the wrong tenants

https://www.edgeprop.sg/property-news/singapore-luxury-residential-sales-fall-prices-stay-firm-cbre

Singapore luxury residential sales fall but prices stay firm

https://www.99.co/singapore/insider/pasir-ris-burglary-and-theft-how-do-crime-rates-affect-property-values/

Pasir Ris Burglary and theft: How do crime rates affect property values?

https://sg.finance.yahoo.com/news/hdb-dbss-flats-singapore-price-195009237.html

HDB DBSS Flats in Singapore: Price Guide to All 13 DBSS Projects (2023)

https://sbr.com.sg/residential-property/news/luxury-apartment-sales-take-hit-absd-rate-hike

Luxury apartment sales take a hit from ABSD rate hike

https://www.businesstimes.com.sg/property/fewer-mortgage-actions-filed-singapore-courts-home-loan-rates-rise

Fewer mortgage actions filed in Singapore courts as home loan rates rise

https://stackedhomes.com/editorial/5-owners-reveal-the-truth-of-living-in-a-boutique-condo/

https://stackedhomes.com/editorial/this-singaporean-sold-his-forest-city-home-for-an-unlikely-profit-heres-how-he-narrowly-escaped-the-doomed-project/

Mercs · September 7, 2023

UP UP and away!

https://www.srx.com.sg/research/64621/hdb-resale-prices-and-volume-increase-month-on-month-in-august-2023

HDB Resale Prices and Volume Increase Month-on-Month in August 2023

'no 1mil no talk'

In August 2023, there are 54 HDB resale flats transacted for at least $1,000,000, representing an increase from July 2023 which recorded 32 such units.This is also the highest volume of resale flats transacted for at least $1,000,000 to date.