No recession expected in S'pore in 2023, but 'significant' global risks remain: MTI

[ER-3682]

My Hardware Line from 3rd Q of 2018[Start of US-China Trade War],2020-21[Covid 19].2022[Ukraine-Russia War]till Today,Business still not good,is it counted as ''Recession''.?

[Jamesc]

How can there be a recession if people are spending money like its going out of fashion?

Going holidays to Europe lah, paying 1 million for a HDB lah, buy new car as if no need to pay for COE lah . . . 

I am not stupid I know we can only have a recession if people stop spending money.

Petrol so ex and I still have to wait to pump.

I only believe in recession if the pump attendant is swatting flies!

[inlinesix]

49 minutes ago, ER-3682 said:

My Hardware Line from 3rd Q of 2018[Start of US-China Trade War],2020-21[Covid 19].2022[Ukraine-Russia War]till Today,Business still not good,is it counted as ''Recession''.?

Please define “no good”

[Jamesc]

I heard there are companies that run sweat shops in 3rd world countries

that pay kids a few cents an hour to make clothes

and these companies make millions in profit?

Is this really true and what's the names of these companies.

I want to buy shares in them.

Their dividends must be good right? 

Edited July 5, 2022 by Jamesc

[Kyrios]

Who is this xinjiao ministar? Neb see or hear b4...quite young looking....

[ER-3682]

10 hours ago, inlinesix said:

Please define “no good”

Compare to 2017-18.

[Sdf4786k]

21 hours ago, inlinesix said:

Forward projection, we got stats?

 

Unfortunately we need the coconut consultants 

[mersaylee]

13 hours ago, Volvobrick said:

Japan's problem is opposite - deflation plus no growth. Uniquely Jipunese. 

Their corporate culture has its top mgmt too high up on a tall pagoda that's why slooooow to make structural changes...默守成龟 🐢

😁

[Ginyu]

Recession or not depends on how deep is one pocket 😂 

[Windwaver]

17 hours ago, Arogab said:

Indeed but riches and happiness does not come in direct proportion. When one got money to put into comfort life and enjoy them, happiness follows. But if one put a lot into luxury stuffs and does not enjoy. Then there goes happiness

What is $$ when there's no health, like that millionaire dementia old man that lives in a rental flat. 

[Windwaver]

13 hours ago, Jamesc said:

How can there be a recession if people are spending money like its going out of fashion?

Going holidays to Europe lah, paying 1 million for a HDB lah, buy new car as if no need to pay for COE lah . . . 

I am not stupid I know we can only have a recession if people stop spending money.

Petrol so ex and I still have to wait to pump.

I only believe in recession if the pump attendant is swatting flies!

Like this? 

https://www.asiaone.com/money/couple-buys-marine-parade-hdb-flat-over-1m-despite-51-years-left-lease

Couple buys Marine Parade HDB flat for over $1m despite 51 years left on lease

Living by East Coast Park is a proposition that will interest many. But be prepared to fork out a premium as property in this area ain't cheap, especially those sea-facing ones.

This applies to HDB flats too.

A five-room flat on a high floor at Block 28 Marine Crescent was sold for $1,010,888 this month, making it the first million-dollar HDB resale transaction in the Marine Parade estate.

What's eye-catching about this deal isn't so much the price given how million-dollar HDB flats are becoming common these days but the relatively short 51 years left on its lease. 

Propnex property agent Colin Wong, one of the brokers for this deal, told AsiaOne that despite the short lease, "this property flew off the market in a week from our first viewing".

He describe how that high floor unit had a view of the sea from every room, including the kitchen.

He added that only two groups of potential buyers actually managed to view this 126 sqm property before the sellers issued an option to the buyers.  

"In between, we received over 30 enquiries which shocked us. The demand was high," he told AsiaOne. 

This unit is located on the 24th floor of this 25-storey block, reported The Straits Times today. 

The buyers who eventually bought the place, said Colin, are a Singaporean couple in their late 50s and planning for retirement.

They were fascinated by the all-round views of the sea and the proximity to East Coast Park, he said.

Colin told AsiaOne that many of the buyers he encountered who are keen on an old resale HDB flat in Marine Parade are not deterred by the relatively short lease. 

"Most of them are looking to downsize from a landed or condominium to a retirement home by the sea, so an ageing lease was not a major issue," he said. 

He added that even though he warned some of these buyers that they may have to pay well over $1 million for a HDB unit similar to the one that was just sold, "many of them have mentioned to us that it would not be an issue, so long the unit fits their criteria".

Colin said that even "after a few rounds of knocking on doors", he has yet to find another seller interested to let go of their HDB unit at Marine Parade, adding that the supply of HDB flats for sale in that estate is low at the moment.

A check by AsiaOne on HDB's website showed that the highest transacted price for a five-room HDB flat in the Marine Parade estate since last July was $960,000.

That 122 sqm unit, located at Block 1 Marine Terrace, was transacted last October.

On PropertyGuru's website, there are at least three five-room HDB flats in Marine Parade listed for over $1 million currently.

The sellers of the Block 28 unit are a Singaporean couple with three children who bought the unit for roughly $870,000 about 11 years ago, reported The Straits Times. 

One of the sellers added: "We always had absolute faith in our unit and knew we were going to get a good price because of the view, size and location near Tao Nan School."

This block is within 1km of the popular Tao Nan School.

Apart from Marine Parade, there has been a flurry of HDB units in various neighbourhoods around Singapore changing hands for over a million dollars — from Tiong Bahru to Woodlands and Pasir Ris. 

 

Don't forget this

https://www.todayonline.com/singapore/long-island-east-coast-residents-property-analysts-potential-impact-1917841

‘Long Island’ along East Coast: Residents, property analysts look ahead to potential impact

[Mkl22]

1 hour ago, Windwaver said:

What is $$ when there's no health, like that millionaire dementia old man that lives in a rental flat. 

dont think one can do much to stop dementia. so better to be a rich demented than a poor one. 😁

[Mkl22]

1 hour ago, Windwaver said:

Like this? 

https://www.asiaone.com/money/couple-buys-marine-parade-hdb-flat-over-1m-despite-51-years-left-lease

Couple buys Marine Parade HDB flat for over $1m despite 51 years left on lease

Living by East Coast Park is a proposition that will interest many. But be prepared to fork out a premium as property in this area ain't cheap, especially those sea-facing ones.

 

The sellers of the Block 28 unit are a Singaporean couple with three children who bought the unit for roughly $870,000 about 11 years ago, reported The Straits Times. 

 

 

 

 

 

after 11years less than 150k. had the money been spent on a condo further along marine parade stretch... it would have appreciated more.

Edited July 6, 2022 by Mkl22

[RH1667]

1 hour ago, Windwaver said:

Like this? 

https://www.asiaone.com/money/couple-buys-marine-parade-hdb-flat-over-1m-despite-51-years-left-lease

Couple buys Marine Parade HDB flat for over $1m despite 51 years left on lease

Living by East Coast Park is a proposition that will interest many. But be prepared to fork out a premium as property in this area ain't cheap, especially those sea-facing ones.

This applies to HDB flats too.

A five-room flat on a high floor at Block 28 Marine Crescent was sold for $1,010,888 this month, making it the first million-dollar HDB resale transaction in the Marine Parade estate.

What's eye-catching about this deal isn't so much the price given how million-dollar HDB flats are becoming common these days but the relatively short 51 years left on its lease. 

Propnex property agent Colin Wong, one of the brokers for this deal, told AsiaOne that despite the short lease, "this property flew off the market in a week from our first viewing".

He describe how that high floor unit had a view of the sea from every room, including the kitchen.

He added that only two groups of potential buyers actually managed to view this 126 sqm property before the sellers issued an option to the buyers.  

"In between, we received over 30 enquiries which shocked us. The demand was high," he told AsiaOne. 

This unit is located on the 24th floor of this 25-storey block, reported The Straits Times today. 

The buyers who eventually bought the place, said Colin, are a Singaporean couple in their late 50s and planning for retirement.

They were fascinated by the all-round views of the sea and the proximity to East Coast Park, he said.

Colin told AsiaOne that many of the buyers he encountered who are keen on an old resale HDB flat in Marine Parade are not deterred by the relatively short lease. 

"Most of them are looking to downsize from a landed or condominium to a retirement home by the sea, so an ageing lease was not a major issue," he said. 

He added that even though he warned some of these buyers that they may have to pay well over $1 million for a HDB unit similar to the one that was just sold, "many of them have mentioned to us that it would not be an issue, so long the unit fits their criteria".

Colin said that even "after a few rounds of knocking on doors", he has yet to find another seller interested to let go of their HDB unit at Marine Parade, adding that the supply of HDB flats for sale in that estate is low at the moment.

A check by AsiaOne on HDB's website showed that the highest transacted price for a five-room HDB flat in the Marine Parade estate since last July was $960,000.

That 122 sqm unit, located at Block 1 Marine Terrace, was transacted last October.

On PropertyGuru's website, there are at least three five-room HDB flats in Marine Parade listed for over $1 million currently.

The sellers of the Block 28 unit are a Singaporean couple with three children who bought the unit for roughly $870,000 about 11 years ago, reported The Straits Times. 

One of the sellers added: "We always had absolute faith in our unit and knew we were going to get a good price because of the view, size and location near Tao Nan School."

This block is within 1km of the popular Tao Nan School.

Apart from Marine Parade, there has been a flurry of HDB units in various neighbourhoods around Singapore changing hands for over a million dollars — from Tiong Bahru to Woodlands and Pasir Ris. 

 

Don't forget this

https://www.todayonline.com/singapore/long-island-east-coast-residents-property-analysts-potential-impact-1917841

‘Long Island’ along East Coast: Residents, property analysts look ahead to potential impact

If the block selected for SERS, then really cry no tears 🤪

[Vratenza]

On 7/5/2022 at 10:31 AM, Windwaver said:

Like this man? 

https://www.straitstimes.com/business/invest/elderly-man-who-lived-in-hdb-rental-flat-has-1m-savings

Elderly man who lived in HDB rental flat has $1m savings

SINGAPORE - The phrase “appearances can be deceptive” doesn’t come close to capturing the case of a Singaporean man in his 80s who lived what seemed to be a hand-to-mouth existence in a one-room rental flat, when in fact he has $1 million in his bank account and other financial products.

He dressed simply and lived mostly on food bought from nearby markets and hawker centres – not unlike other retirees in the neighbourhood. 

Why are we subsidizing a millionaire's public rental as well as all the GST/utilities vouchers and whatnots?

[Vratenza]

37 minutes ago, Mkl22 said:

after 11years less than 150k. had the money been spent on a condo further along marine parade stretch... it would have appreciated more.

yeah agree....150k have not minus the top to bottom overhaul reno done 11 years ago...easily another 80-100K off the profit.

 

[inlinesix]

4 hours ago, ER-3682 said:

Compare to 2017-18.

Sales drop as compared to these 2 years?

[ER-3682]

@inlinesix yes..