mycarforum: Rupiah/Rupee at risk, SG/HK risk property bubble part 37

Hahaha, read about the author and you will know where his vested interest is......

All it takes to tip the pot of boiling water is a move in rates.

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BY SAM BAKER -

OCTOBER 24

Private property market prices in Singapore may be levelling off at a new support level after five years of cooling measures that have been very effective at stalling the market.

However, it appears the effectiveness of the measures has levelled off. Barring major catastrophes such as war, epidemics or financial crises, private property prices are expected to hold up, unless more resale supply is introduced or the Government removes the cooling measures.

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[rolleyes]

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OK la... now only 2 out of 3. Not jackpot yet.

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OK la... now only 2 out of 3. Not jackpot yet.

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even one also have kanna yet LOL

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better keep your cash now, so you can be ready when all 3 hits the fan�

Aiyo doomsday so scary.. when the time comes, had to decide if the cash should go another buying properties or equities..

[nod] � [nod] � [nod] � [nod] � [nod]

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http://www.todayonli...new-equilibrium

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So fast correction over liao???

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Private home prices at a new equilibrium
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Private property market prices in Singapore may be levelling off at a new support level after five years of cooling measures that have been very effective at stalling the market.

BY SAM BAKER -

OCTOBER 24

Private property market prices in Singapore may be levelling off at a new support level after five years of cooling measures that have been very effective at stalling the market.

However, it appears the effectiveness of the measures has levelled off. Barring major catastrophes such as war, epidemics or financial crises, private property prices are expected to hold up, unless more resale supply is introduced or the Government removes the cooling measures.

According to SRX Property, the market transacted an estimated 468 units last month. This is down 77.2 per cent from the peak of 2,050 units sold in April 2010.

Prices, on the other hand, have dropped a mere 5.6 per cent since the market�s monthly peak in January 2014, based on the SRX Price Index.

There are three signs that it is going to be difficult for the cooling measures to pull prices down further.

The first half of this year was rough for the private resale market, with the SRX Price Index dropping rather dramatically from 178.8 in January to 170.2 in June.

However, since June, the index has found a plateau in the 168 to 170 range. This suggests the market has come to terms with the impact of the Total Debt Servicing Ratio (TDSR).

Until the TDSR, private resale prices would not come down. They finally capitulated at the beginning of the year. But now, it seems the market may have found a price equilibrium under the new TDSR regime.

Second, market sentiment, as measured by the median Transaction-Over-X Value (T-O-X) has improved in the past few months. T-O-X measures the actual transaction prices over the computer-generated X-Value of each unit in Singapore.

Last month, the national median T-O-X was negative S$2,000, which means the average buyer was paying only S$2,000 below the computer-generated X-Value. This is a big improvement over the negative S$20,000 in March and July.

In other words, fewer people are paying significantly below the computer-generated X-Value. This means less downward pressure on prices.

Third, volume is down significantly and has been consistently in the mid-400-unit range. There is not much more room for volume and, hence, prices to drop.

The cooling measures, in particular those impacting the TDSR, have been quite effective at discouraging people from putting homes on the market.

While bargain hunters and those unaffected by the cooling measures are delighted to buy today, sellers are not as inclined to sell. They have been sitting on the sidelines, waiting for prices to rebound before putting their properties on the market.

Unless a new round of resale supply comes onto the market or there is an external shock that causes a sell-off, it will be difficult for the market to drop much further, given the low stock of homes for sale each month.

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ABOUT THE AUTHOR:

Sam Baker is co-founder of SRX, an information exchange formed by leading real estate agencies in Singapore to disseminate market pricing information and facilitate property listings and transactions. For more details on the data used in this article, visit SRX.com.sg/research.

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What dooms day? People celebrating hor..hehehe..

business.asiaone.com/news/big-welcome-dleedon-residents

PROPERTY prices in Singapore have not seen a "meaningful correction" yet, said Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam on Tuesday.

"We've seen some correction in both�private property pricesand�HDB resale prices�over the last four to five quarters, but there is some distance to go in achieving a meaningful correction after the sharp run-up in prices in recent years," said the chairman of the Monetary Authority of Singapore at the Credit Counselling Singapore's 10th anniversary luncheon.

"If we do not get a meaningful reversal after each upswing, property prices will run ahead of the growth in household incomes in the long term. And that, we must avoid."

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http://www.businesst....on-dpm-tharman

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Sam Baker or Tharman who should i trust?? Zzzz� [sly] �

Edited by Bacteria83, 28 October 2014 - 11:20 PM.

Thank you Tharman!

This one really touch the ground.�

Hhhmmmmm, "meaningful reversal

So Minister say price MUST DROP further?

But agents say price must go up leh....

Muayhahahahah
"Some distance to go...." leh.....

I take that as 15-20% at least.
Nice one Tharman!
Finance minister ?? finance minister.

"And that we MUST avoid"........oooohhhhhh.... all the long property people knees shaking already......

Edited by Throttle2, 29 October 2014 - 12:46 AM.

not shaking la ...
just said is for longgggggg term
10-20 years later ... spore property price SURE goes up ... 1000% sure

Edited by Wt_know, 29 October 2014 - 07:57 AM.

Hhhmmmmm, "meaningful reversal

So Minister say price MUST DROP further?

But agents say price must go up leh....

Muayhahahahah
"Some distance to go...." leh.....

I take that as 15-20% at least.
Nice one Tharman!
Finance minister ?? finance minister.

"And that we MUST avoid"........oooohhhhhh.... all the long property people knees shaking already......

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prices have dropped but in small volume... my contrarian view is the current situation is v similar to 2008 - 2009, where prices did drop but in small volume, therein lies the opportunity for a good buy. ive detected some already n gona view them. in fact sentosa big units r seriously hit, many foreigners offloading but no buyers...

dun listen too much to govt lah

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MBT kept telling us to wait for price to drop until the time he kanna sacked the prices were still rising...

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govt, like developers, all have their own agenda

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best to listen to yourself, or listen to me also can�

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prices have dropped but in small volume... my contrarian view is the current situation is v similar to 2008 - 2009, where prices did drop but in small volume, therein lies the opportunity for a good buy. ive detected some already n gona view them. in fact sentosa big units r seriously hit, many foreigners offloading but no buyers...

If you hv detected some, then its good.
There will still be genuine sellers who know that they must discount 10% off current to get a sale done.
Keep a lookout for those.

The biggest difference between now and 2009 is that people are already heavy property in their port now.
The buying pressure is much lower than the selling pressure.

In 2008/2009 many people were clean as a whistle.
Like myself i sold off two properties in 2007 and 2008 leaving the roof over my head in 2009.
I hv done the same last year, selling at record high price, now leaving just the roof over my head
But the masses are instead heavy laden with debt today.

We are not tycoons, if dont reload , how to shoot.
Some people wait until completely no bullets then they reload.
By that time everybody is reloading, so got not enough bullets to go around.

I hv reloaded, have you?

All the best, bro.

PROPERTY prices in Singapore have not seen a "meaningful correction" yet, said Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam on Tuesday.
"We've seen some correction in both�private property pricesand�HDB resale prices�over the last four to five quarters, but there is some distance to go in achieving a meaningful correction after the sharp run-up in prices in recent years," said the chairman of the Monetary Authority of Singapore at the Credit Counselling Singapore's 10th anniversary luncheon.
"If we do not get a meaningful reversal after each upswing, property prices will run ahead of the growth in household incomes in the long term. And that, we must avoid."
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http://www.businesst....on-dpm-tharman
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Sam Baker or Tharman who should i trust?? Zzzz� �

I could not find this report in today's Straits Times. Or maybe it is hidden in the classified.

Edited by Voodooman, 29 October 2014 - 09:51 PM.

I could not find this report in today's Straits Times. Or maybe it is hidden in the classified.

the link is from business times...

the link is from business times...

Yeah, I read it in BT but am surprised it is no where to be found in the ST. Thought it is the most explicit statement from Tharman that all the CMs won't be going anywhere soon.

dun listen too much to govt lah
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MBT kept telling us to wait for price to drop until the time he kanna sacked the prices were still rising...
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govt, like developers, all have their own agenda
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best to listen to yourself, or listen to me also can�

First you say, the govt can control the market 100%
Now you say dont listen to govt
Then you say listen to you best
Wah lau eh....i would like to agree with you but that will make both of us wrong.
Muayhahahaha

First you say, the govt can control the market 100%
Now you say dont listen to govt
Then you say listen to you best
Wah lau eh....i would like to agree with you but that will make both of us wrong.
Muayhahahaha

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you must know what is his occupation to know his agenda! Muahaha

The buyer decided not to exercise the option, he wanted to move in after the tenancy expired but wasn't happy that the TA had the a clause for the tenant to extend for 1 year at market rate. My tenant don't want to legally waive that out and I don't wanna force him so it fell thru.

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Not sure which part of the "buying with tenancy" did he not understand. TMD waste my time, some more there was another interested buyer �around the same time but now run road liao.

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Next time I have to include in the TA a waiver to the extension option if the property is sold.

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Very heng you hit gian png buyer, (i hit one too after waiting 9 mths last yr) , care to share location, site, price , psf, etc?

Your neighbors are not serious sellers lah. 15% premium can go jiak sai.
Unless it is really sought after property 10% discount off last done more like it.

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you must know what is his occupation to know his agenda! Muahaha

Prata seller?

The buyer decided not to exercise the option, he wanted to move in after the tenancy expired but wasn't happy that the TA had the a clause for the tenant to extend for 1 year at market rate. My tenant don't want to legally waive that out and I don't wanna force him so it fell thru.

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Not sure which part of the "buying with tenancy" did he not understand. TMD waste my time, some more there was another interested buyer �around the same time but now run road liao.

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Next time I have to include in the TA a waiver to the extension option if the property is sold.

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Buying with tenancy just means you have a tenant (for however number of months the agreement has left) but if you failed to disclose at the start�that the agreement has an additional clause for extension then how will the buyer know about it? If you did not disclose the extension clause then I feel that you have been deceitful and wasted the buyers time (disclaimer, if you did disclose it beforehand then it is obviously his fault).

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By the way, you could have asked the tenant how much $ he wanted from you to give a waiver for that clause.

Firstly its for the agent to explain the terms of the sale not me, I was too was concern that this was not clearly explained but the Option did clearly state it was sold with tenancy and subject to terms of the TA. It was even discussed during the house visit that the tenant may extend. The buyer likely didn't give it too much thought until he got the option and had a discussion with his friends.

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I bought properties with tenancy before and I always request and review necessary documents mentioned on the option before committing to anything (to the point of making sure the tenancy is stamped). Especially when its legal and requires me to put up cash upfront. I cannot fathom why people legally commit to something without making sure all their concerns are met.�

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My tenant is very decent chap, he would see offering money as buying him off and would really piss him off. He just didn't want to commit to anything legally since he wasn't obliged too and if he had to then he would need to consult his lawyer. But he also didn't see what the big deal was since it was a mutual agreement to extend pending the revise rental rates once the agreement expires.

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Buying with tenancy just means you have a tenant (for however number of months the agreement has left) but if you failed to disclose at the start�that the agreement has an additional clause for extension then how will the buyer know about it? If you did not disclose the extension clause then I feel that you have been deceitful and wasted the buyers time (disclaimer, if you did disclose it beforehand then it is obviously his fault).

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By the way, you could have asked the tenant how much $ he wanted from you to give a waiver for that clause.

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Firstly its for the agent to explain the terms of the sale not me, I was too was concern that this was not clearly explained but the Option did clearly state it was sold with tenancy and subject to terms of the TA. It was even discussed during the house visit that the tenant may extend. The buyer likely didn't give it too much thought until he got the option and had a discussion with his friends.

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I bought properties with tenancy before and I always request and review necessary documents mentioned on the option before committing to anything (to the point of making sure the tenancy is stamped). Especially when its legal and requires me to put up cash upfront. I cannot fathom why people legally commit to something without making sure all their concerns are met.�

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My tenant is very decent chap, he would see offering money as buying him off and would really piss him off. He just didn't want to commit to anything legally since he wasn't obliged too and if he had to then he would need to consult his lawyer. But he also didn't see what the big deal was since it was a mutual agreement to extend pending the revise rental rates once the agreement expires.

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Point taken about the TA but I don't understand why your tenant would be offended.

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A tenancy agreement is a business transaction and so is a cancellation of the clause in it. Nothing much to do with whether he is a decent chap or not. I also don't see why he had to consult his lawyer - do you mean he also had a lawyer go thru the TA when he first signed it?

Edited by Kusje, 01 November 2014 - 09:39 PM.

Haha not sure how to put it but lets say he has a strong moral standing? But he is the best tenant I have, he would sometimes update me on issues around the estate not impacting him but as an fyi that the MA is not doing in the interest of the owners. He also helps resolve issues on the property which most tenants would demand the owner come down and rectify it immediately.

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The original TA was a standard one that he was familiar with, he is a family guy and he wasn't comfortable to put a legal waiver on any part of the contract would may jeopardize his occupancy. Its just one of those things some people feel uncomfortable with I guess.

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Point taken about the TA but I don't understand why your tenant would be offended.

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A tenancy agreement is a business transaction and so is a cancellation of the clause in it. Nothing much to do with whether he is a decent chap or not. I also don't see why he had to consult his lawyer - do you mean he also had a lawyer go thru the TA when he first signed it?

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The buyer decided not to exercise the option, he wanted to move in after the tenancy expired but wasn't happy that the TA had the a clause for the tenant to extend for 1 year at market rate. My tenant don't want to legally waive that out and I don't wanna force him so it fell thru.
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Not sure which part of the "buying with tenancy" did he not understand. TMD waste my time, some more there was another interested buyer �around the same time but now run road liao.
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Next time I have to include in the TA a waiver to the extension option if the property is sold.
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all good tenancy agreement must have escape clause for both landlord and tenant.. In situation of tenants got posted out of SG, and if landlord sell house.. Yours don't have this?? Please blasted your agent who help u rent house.

The buyer decided not to exercise the option, he wanted to move in after the tenancy expired but wasn't happy that the TA had the a clause for the tenant to extend for 1 year at market rate. My tenant don't want to legally waive that out and I don't wanna force him so it fell thru.
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Not sure which part of the "buying with tenancy" did he not understand. TMD waste my time, some more there was another interested buyer �around the same time but now run road liao.
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Next time I have to include in the TA a waiver to the extension option if the property is sold.
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As a buyer i will request to go through TA.
Its part of due diligence.
Believing the agent wholeheartedly is the last thing anyone should do - seller or buyer.

People usually dont give up option for such small reasons.
Its not like the extension will definitely happen
And if it should happen its in the buyers favor as rents are dropping.

I know becos i also gave up exercising an option costing a high grade 1 carat diamond before.
Reason being, i got a better unit at a price cheaper by a high grade 2 carat diamond. Haw haw.

So my take is that he either found another unit cheaper or he realised that the price aint right as the market is coming off. So he give some half baked reason for not exercising.

Bottomline is that the unit remains unsold at the price you wanted.
Good luck.

The buyer decided not to exercise the option, he wanted to move in after the tenancy expired but wasn't happy that the TA had the a clause for the tenant to extend for 1 year at market rate. My tenant don't want to legally waive that out and I don't wanna force him so it fell thru.

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Not sure which part of the "buying with tenancy" did he not understand. TMD waste my time, some more there was another interested buyer �around the same time but now run road liao.

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Next time I have to include in the TA a waiver to the extension option if the property is sold.

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I also think that the tenancy is too small a matter for the buyer not to exercise. On a positive side, you managed to forfeit the option money. It should be a decent amount for the 2 weeks of agony for you.

Probably an excuse. Buyer turned cold feet or found a better deal elsewhere.�

I checked other TA I have and it not a clause that typically, I am not defending the agent but I don't think its something normally inserted in the TA. Every agent has a varying TA template and yours is on the ball to have it included. Anyway as above since its a legal doc which I committed too its my fault for not vetting it properly.�

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That one reason why I posted my experience to, so others can note it down for future refence.

all good tenancy agreement must have escape clause for both landlord and tenant.. In situation of tenants got posted out of SG, and if landlord sell house.. Yours don't have this?? Please blasted your agent who help u rent house.

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I do believe he actually wanted to go thru with the deal, cause he arrange to speak to the tenant himself after we failed to convince him to sign the waiver. Guess he was really bothered by this option.

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My unit would be considered one of the cheapest one in district, and its very relatively to scgs. I would be ideal for someone looking to upgrade with a family I suppose. Anyway just another throw of the dice, I'll see how things pan out.

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As a buyer i will request to go through TA.
Its part of due diligence.
Believing the agent wholeheartedly is the last thing anyone should do - seller or buyer.

People usually dont give up option for such small reasons.
Its not like the extension will definitely happen
And if it should happen its in the buyers favor as rents are dropping.

I know becos i also gave up exercising an option costing a high grade 1 carat diamond before.
Reason being, i got a better unit at a price cheaper by a high grade 2 carat diamond. Haw haw.

So my take is that he either found another unit cheaper or he realised that the price aint right as the market is coming off. So he give some half baked reason for not exercising.

Bottomline is that the unit remains unsold at the price you wanted.
Good luck.

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Lol it is indeed, but I will need to compensate my agent/lawyer for time spent assuming we don't successfully sell the property. Its only fair they partake in some of it for their time & efforts.

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The rest will probably go into my kids childcare fees� [grin]

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I also think that the tenancy is too small a matter for the buyer not to exercise. On a positive side, you managed to forfeit the option money. It should be a decent amount for the 2 weeks of agony for you.

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For your info, it is usually stated in the OTP that should it be forfeited, agent gets half the amount.

Agent happy like f**k loh!

I do believe he actually wanted to go thru with the deal, cause he arrange to speak to the tenant himself after we failed to convince him to sign the waiver. Guess he was really bothered by this option.
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My unit would be considered one of the cheapest one in district, and its very relatively to scgs. I would be ideal for someone looking to upgrade with a family I suppose. Anyway just another throw of the dice, I'll see how things pan out.
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Lol it is indeed, but I will need to compensate my agent/lawyer for time spent assuming we don't successfully sell the property. Its only fair they partake in some of it for their time & efforts.
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The rest will probably go into my kids childcare fees�
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You mean if at the end of the day, the unit remains unsold, you want to voluntarily compensate your lawyer and agent?!

You da man, Boss!

*clap clap*

Lol it is indeed, but I will need to compensate my agent/lawyer for time spent assuming we don't successfully sell the property. Its only fair they partake in some of it for their time & efforts.
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The rest will probably go into my kids childcare fees�
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you serious?? Into compensating your agent and lawyer even when deal not closed?? If deal close, your agent charge you 0.5% commission and lawyer charge you $1000 only?

you serious?? Into compensating your agent and lawyer even when deal not closed?? If deal close, your agent charge you 0.5% commission and lawyer charge you $1000 only?

He eat the deposit money liao

So share some fortune with agent and lawyer haha

He eat the deposit money liao

So share some fortune with agent and lawyer haha

haha true.. but agent got share in the option $.. lawyer don't leh.

haha true.. but agent got share in the option $.. lawyer don't leh.

Lawyer for him to protect his legal interest in case buyer want deposit back haha

Thanks for the below Throttle, it was not on the OTP but on the sales service agreement. Sua Ku me so focused on the OTP I missed it out, not that I would have raised a fuss anyway since I didn't expect that to happen. Strange the agent hasn't asked for it yet.

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Aiya I just feel that its right (even if the agent didn't have the 50% clause). Although I was thinking of just giving them 2 / 3 grand and not 50% [laugh] ��

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I am a ka kia draw humble salary leh, you are the real BOSS� [thumbsup]

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For your info, it is usually stated in the OTP that should it be forfeited, agent gets half the amount.

Agent happy like f**k loh!

You mean if at the end of the day, the unit remains unsold, you want to voluntarily compensate your lawyer and agent?!

You da man, Boss!

*clap clap*

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Bang nailed it!�

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Lawyer for him to protect his legal interest in case buyer want deposit back haha

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Thanks for the below Throttle, it was not on the OTP but on the sales service agreement. Sua Ku me so focused on the OTP I missed it out, not that I would have raised a fuss anyway since I didn't expect that to happen. Strange the agent hasn't asked for it yet.
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Aiya I just feel that its right (even if the agent didn't have the 50% clause). Although I was thinking of just giving them 2 / 3 grand and not 50% ��
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I am a ka kia draw humble salary leh, you are the real BOSS�
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Thats not correct. You own so many properties, you must be the real big boss

I only got one property, and talk big most of the time.
I am the true salaried employee here.12 hr days almost every day
Huat ah
Drop 13%

Still say good resale, knn
Wahaha

Attached Thumbnails

Wah Lao Boss, please dun compare my termite infested apartment to your mansion leh. I don't even have time to read newspaper let alone take a picture of me reading one.

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On a serious note your watch strap looks damn tight

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Thats not correct. You own so many properties, you must be the real big boss

I only got one property, and talk big most of the time.
I am the true salaried employee here.12 hr days almost every day
Huat ah
Drop 13%

Still say good resale, knn
Wahaha

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hi gurus,

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regarding TDSR, if someone has no loans whatsoever, the TDSR is no applicable to them correct? or does the 60% rule applies if one has >= $0 loans?

Edited by Duckduck, 05 November 2014 - 10:01 AM.

This table should answer your question

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http://www.stpropert...lified/a/128288

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hi gurus,

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regarding TDSR, if someone has no loans whatsoever, the TDSR is no applicable to them correct? or does the 60% rule applies if one has >= $0 loans?

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This table should answer your question

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TDSR.jpg

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http://www.stpropert...lified/a/128288

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ok thx
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I checked other TA I have and it not a clause that typically, I am not defending the agent but I don't think its something normally inserted in the TA. Every agent has a varying TA template and yours is on the ball to have it included. Anyway as above since its a legal doc which I committed too its my fault for not vetting it properly.�

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That one reason why I posted my experience to, so others can note it down for future refence.

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Thanks. Became 0.01% wiser with you sharing your experience.� [nod]

car loan $1K only? i think more like $2K-ish including season parking,erp, insurance, road tax, etc

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alamak $10K income can only afford $998K unit ar?

nowadays PC ... no $1.25M no talk wor unless buy mickey mouse shoebox unit la

hdb pigeon hole to mickey mouse shoebox is upgrade or downgrade?

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This table should answer your question

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TDSR.jpg

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http://www.stpropert...lified/a/128288

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Edited by Wt_know, 05 November 2014 - 01:46 PM.

hi gurus,

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regarding TDSR, if someone has no loans whatsoever, the TDSR is no applicable to them correct? or does the 60% rule applies if one has >= $0 loans?

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TDSR is a credit assessment. No outstanding loan oso still subjected to it.

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40% d/p & ABSD applies if u hv outstanding loan.�

This table should answer your question
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TDSR.jpg
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http://www.stpropert...lified/a/128288
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Cool , so base on this $10kpm can buy $1mil property at full loan with TDSR applied.
Thanks

car loan $1K only? i think more like $2K-ish including season parking,erp, insurance, road tax, etc

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Unless your road tax/insurance/parking/erp also take loan lor [laugh]

car loan $1K only? i think more like $2K-ish including season parking,erp, insurance, road tax, etc

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alamak $10K income can only afford $998K unit ar?

nowadays PC ... no $1.25M no talk wor unless buy mickey mouse shoebox unit la

hdb pigeon hole to mickey mouse shoebox is upgrade or downgrade?

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HDB masionette 170sqm to private MM 50sqm is still considered upgrade

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that is why the buyers are called upgraders lah

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[grin] � [grin]

hahaha ... yeah hor ... nevermind pay by credit card lor ... and must find the 12 months installment interest free type ... muahahaha

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Unless your road tax/insurance/parking/erp also take loan lor

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$1k purely for illustrative purposes, easier to calculate

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car loan $1K only? i think more like $2K-ish including season parking,erp, insurance, road tax, etc

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$1k purely for illustrative purposes, easier to calculate
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Yeah, probably not applicable to MCF folks becos i understand, most people here in recent years change to full settlement in cash instead of loans.

Then again not applicable in the past as well becos people seem very comfortable buying a car which is priced the same quantum as their annual salary.
This inevitably means at least $1,500 for car loans.

Hhhmmmmm, so complicated is Singapore life, aiyah dont buy already lah....muayhaha

Not full loan, 80% according to the link

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Cool , so base on this $10kpm can buy $1mil property at full loan with TDSR applied.
Thanks

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TDSR is a credit assessment. No outstanding loan oso still subjected to it.

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40% d/p & ABSD applies if u hv outstanding loan.�

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is property rental income considered as fixed or variable income?

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is property rental income considered as fixed or variable income?

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variable and gets free $10 OB haircut.

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variable and gets free $10 OB haircut.

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i presume stock dividend income considered variable as well then... thx

Over weekend while checking a car, I ask car sales if Tdsr applies to car loan he say no problem.. I told him may not afford the car because pay very low and have a $4k+ monthly housing loan instalment, and if add another $1.6k for car loan, how-to pass?? Wah he very confidently told me loan sure pass.. Without asking me what's my pay. Car sales have any special trick?

Over weekend while checking a car, I ask car sales if Tdsr applies to car loan he say no problem.. I told him may not afford the car because pay very low and have a $4k+ monthly housing loan instalment, and if add another $1.6k for car loan, how-to pass?? Wah he very confidently told me loan sure pass.. Without asking me what's my pay. Car sales have any special trick?

�

duno leh...

�

another question for gurus: for those who have fully paid for properties, is it possible to get cash out of home equity financing to buy another property? assume this cash out is considered variable, then one can add the cash out to the rental income n then combine both for a larger variable income?

Edited by Duckduck, 05 November 2014 - 02:51 PM.

Over weekend while checking a car, I ask car sales if Tdsr applies to car loan he say no problem.. I told him may not afford the car because pay very low and have a $4k+ monthly housing loan instalment, and if add another $1.6k for car loan, how-to pass?? Wah he very confidently told me loan sure pass.. Without asking me what's my pay. Car sales have any special trick?

Car sales guy just eager to close the deal la lol

Over weekend while checking a car, I ask car sales if Tdsr applies to car loan he say no problem.. I told him may not afford the car because pay very low and have a $4k+ monthly housing loan instalment, and if add another $1.6k for car loan, how-to pass?? Wah he very confidently told me loan sure pass.. Without asking me what's my pay. Car sales have any special trick?

�

no need to ask lah

�

your housing loan $4k+ means you are very rich already. Sure high income earner

�

average joe like me only have $300 monthly mortgage

http://www.propertyg...units-in-s-pore

�

"Blackstone is said to be in talks to acquire 18 four-bedroom apartment units at Paterson Suites (pictured), with market watchers expecting prices to be around $2,100 psf.

�

....

�

Blackstone is also said to be doing due diligence on a 10-storey property at about $159 million or almost $1,860 psf based on the strata area of 85,552 sq ft. Located along Anderson Road, 21 Anderson is owned by Arch Capital, which was set up by Ayala Group."

�

fwah if paterson suites going only 2100psf, how can across the road marq at paterson sell for 4-5000psf? ahahaha

�

if anderson 21 is 1860psf, then nouvel ardmore etc� liao lah

�

�

�

---------------------------------------------------------------------------------------------------------------------------------------

�

�

By BUSINESS TIMES

THE Marina One investment by Khazanah Nasional Bhd and Temasek Holdings is off to a good start, ahead of its public launch on Saturday.

Its units, which are priced from RM1.4 million onwards, have been oversubscribed by 20 times.

The integrated development near the Marina Bay financial district, here, is flanked by two parks � the Marina Station Square and Central Linear Park.

It is expected to be completed in 2017.

M+S Pte Ltd chief operating officer Kemmy Tan said private viewings had been held for two weeks and the project was well-received, judging from the healthy interest by local and foreign buyers.

�

�

Starting price is only S$538k? So cheap?

�

All those predicting the imminent collapse since 2009 must be right.� [thumbsup]

�

$538k for toilet price?

Not full loan, 80% according to the link
�
�
�

Aiyoh, 80% means full loan or max loan lah...thats what i meant.

Of course not 100% of property sale price lah, hahaha.
Not in this part of the world at least..

�
duno leh...
�
another question for gurus: for those who have fully paid for properties, is it possible to get cash out of home equity financing to buy another property? assume this cash out is considered variable, then one can add the cash out to the rental income n then combine both for a larger variable income?

Not allowed.
You cannot draw a loan backed by property to pay for another one.
But as usual, if dont get caught, double yellow line can park too, wahahahaha

Edited by Throttle2, 05 November 2014 - 10:48 PM.

Gotcha! [thumbsup]

�

Aiyoh, 80% means full loan or max loan lah...thats what i meant.

Of course not 100% of property sale price lah, hahaha.
Not in this part of the world at least..
�

�

w

This table should answer your question

�

TDSR.jpg

�

http://www.stpropert...lified/a/128288

�

�

�

How is the car loan and credit card loan calculated? Monthly repayment value?

�

I can understand for car loan but how much do you have spent for a credit card monthly payment to be 1k? I know interest rate is kinda high but still crazy.

http://www.propertyg...units-in-s-pore

�

"Blackstone is said to be in talks to acquire 18 four-bedroom apartment units at Paterson Suites (pictured), with market watchers expecting prices to be around $2,100 psf.

�

....

�

Blackstone is also said to be doing due diligence on a 10-storey property at about $159 million or almost $1,860 psf based on the strata area of 85,552 sq ft. Located along Anderson Road, 21 Anderson is owned by Arch Capital, which was set up by Ayala Group."

�

fwah if paterson suites going only 2100psf, how can across the road marq at paterson sell for 4-5000psf? ahahaha

�

if anderson 21 is 1860psf, then nouvel ardmore etc� liao lah

�

simon cheong believes in the strength of the luxury mkt, especially his marq

�

anyway the 2100 psf is for bulk purchase. And even at this price, still risky for blackstone. their holding power not as strong as SC

�

Starting price is only S$538k? So cheap?

�

All those predicting the imminent collapse since 2009 must be right.�

�

�

that's why oversubscribed by 20 times mah� �

Prob one of those interest free installment plans for 1 or 2 years, for big ticket items such as a Rolex!

LOL

�

�

How is the car loan and credit card loan calculated? Monthly repayment value?

�

I can understand for car loan but how much do you have spent for a credit card monthly payment to be 1k? I know interest rate is kinda high but still crazy.

�

�

si

that's why oversubscribed by 20 times mah� �

�

Haha I wanted to pass them a cheque for 2 units

�

but I didn't even waste my time going down as they

�

kept saying oversubscribed.

�

All those lucky owners that manage to get a unit

�

will be making a killing when they sell.

�

got this in my mailbox

free golf session or free meal ... ai mai ... lol [sly]

Attached Thumbnails

Edited by Wt_know, 07 November 2014 - 09:51 AM.

got this in my mailbox

free golf session or free meal ... ai mai ... lol

�

wow horizons hill

�

from 400k to 1million

�

now how much is it going for?

�

heard that iskandar crashing� [laugh]

http://www.propertyg...gher-ec-vacancy

�

Falling prices in the HDB resale market has resulted in more vacant Executive Condominiums (ECs), according to Century 21�s Chief Executive Ku Swee Yong in a media report.

�

At the end of September, there were 14,624 completed ECs, of which a total of 2,941 units came from six projects completed in the first three quarters of 2014. However, 16.2 percent or 2,375 units out of the overall figure were vacant, he said.

�

This means 2,941 ECs were added this year, but the number of vacant units significantly increased to 2,375 in Q3 2014.

�

�One reason for the slow take-up of ECs despite the Minimum Occupation Period (MOP) is that upgraders and second-timers are finding it challenging to sell their current HDB flats,� he said.

�

�Four years ago, when these ECs were launched, a typical plan for upgraders was to buy the EC � many on deferred payment schemes � in the expectation that HDB resale prices will rise during the time that the new home was being built.�

�

By the time the ECs were completed, they thought they could gain a sizeable windfall from the sale of their HDB flats, which could be used to pay off a portion of the loan for the EC unit.

�However, the tide has turned against them. HDB resale prices have dropped for the past five quarters and recent changes to valuation rules and to purchases by Permanent Residents have made it even tougher to sell the current units at market prices,� Ku explained.

�

While some HDB sellers, especially upgraders, accepted below-market prices, some are still waiting for better offers. However, there are some who postpone collecting their EC keys as they hold out for better prices.

�So, in the EC segment, potentially about 2,300 families concurrently own two taxpayer-subsidised housing units: the HDB flat that they currently own and possibly occupy, and one completed EC that they have yet to move into,� Ku said.

�

Because each family can only posses one subsidised home under the law, upgraders are compelled to sell their HDB flat as quickly as possible. �The pressure to sell may worsen, with EC completions expected to total 2,854 next year, 6,371 in 2016 and 2,505 in 2017,� he added.

http://www.propertyg...gher-ec-vacancy
�
�

�
Falling prices in the HDB resale market has resulted in more vacant Executive Condominiums (ECs), according to Century 21s Chief Executive Ku Swee Yong in a media report.
�
At the end of September, there were 14,624 completed ECs, of which a total of 2,941 units came from six projects completed in the first three quarters of 2014. However, 16.2 percent or 2,375 units out of the overall figure were vacant, he said.
�
This means 2,941 ECs were added this year, but the number of vacant units significantly increased to 2,375 in Q3 2014.
�
One reason for the slow take-up of ECs despite the Minimum Occupation Period (MOP) is that upgraders and second-timers are finding it challenging to sell their current HDB flats, he said.
�
Four years ago, when these ECs were launched, a typical plan for upgraders was to buy the EC many on deferred payment schemes in the expectation that HDB resale prices will rise during the time that the new home was being built.
�
By the time the ECs were completed, they thought they could gain a sizeable windfall from the sale of their HDB flats, which could be used to pay off a portion of the loan for the EC unit.
However, the tide has turned against them. HDB resale prices have dropped for the past five quarters and recent changes to valuation rules and to purchases by Permanent Residents have made it even tougher to sell the current units at market prices, Ku explained.
�
While some HDB sellers, especially upgraders, accepted below-market prices, some are still waiting for better offers. However, there are some who postpone collecting their EC keys as they hold out for better prices.
So, in the EC segment, potentially about 2,300 families concurrently own two taxpayer-subsidised housing units: the HDB flat that they currently own and possibly occupy, and one completed EC that they have yet to move into, Ku said.
�
Because each family can only posses one subsidised home under the law, upgraders are compelled to sell their HDB flat as quickly as possible. The pressure to sell may worsen, with EC completions expected to total 2,854 next year, 6,371 in 2016 and 2,505 in 2017, he added.

Let me correct that.
The pressure to sell WILL worsen.

Property huat ah huat ah!!!!!! Mai drop ah!!!!!! Mai drop ah!!!!!!!!� VOTE FOR PAP!!!!!!!! DUN SPREAD FEAR!!!!!!

Lakelife EC ... 95% sold ... huat ah!

8 years later (3 years to build + 5 years MOP) ... can make smelly smelly $500K? [sly]

�

Edited by Wt_know, 08 November 2014 - 11:24 PM.

HUAT AH!!! PROPERTY DUN DROP AH!!!!!

Lakelife EC ... 95% sold ... huat ah!

8 years later (3 years to build + 5 years MOP) ... can make smelly smelly $500K?

�

�

free $ who dun want? lolz
�

Blardy hell who say its going downhill lol

90 percent of the buyer just want to get tips from andy father. This type of cai shen where to find except lakelife�

EC buyers are from the same pool of HdB buyers

Mostly not affected by cooling measures and buyers are upgraders or first time buyers

This means people who buy to stay.

Invest property market is a different story.

Different segment different results different characteristics.

After so many rounds of price reductions, its no surprise that real demand pick up a little.
People buy so that they can move on in life.

*yawn*

Blardy hell who say its going downhill lol

Real astute investors. Read: ME

Edited by Throttle2, 09 November 2014 - 01:44 AM.

Don't drop don't drop! Mai worry!!!

Blardy hell who say its going downhill lol

�

for many condos im interested in prices have gone full circle n back to 2010-2011 price liao...

�

the actual thing going downhill are people's patience. last time many were patient investors, now everyone wants to be zillionaire overnight... thats why rich get richer coz their mindset is different from the crowd IMO

Lakelife EC ... 95% sold ... huat ah!
8 years later (3 years to build + 5 years MOP) ... can make smelly smelly $500K?
�

95% (519 units) sold for a 546 units project is impressive.

Are the buyers subjected to MSR?

Think the skysuites also sold out already? I saw their showflat close down

�
for many condos im interested in prices have gone full circle n back to 2010-2011 price liao...
�
the actual thing going downhill are people's patience. last time many were patient investors, now everyone wants to be zillionaire overnight... thats why rich get richer coz their mindset is different from the crowd IMO

Its the TDSR and ABSD that stopped many people from buying

95% (519 units) sold for a 546 units project is impressive.

Are the buyers subjected to MSR?

�

braindead deal for these EC buyers when they compare prices to the recently launched private projects nearby... well p8p has secured another 519 votes for next erections

a friend just moved into an EC recently

�

he had to sell his 4 room hdb at 20k below valuation

�

I wonder what will happen to the resale hdb market when all these ECs being built�are ready for occupation

�

standby popcorn and watch from my own hdb...

�

a friend just moved into an EC recently

�

he had to sell his 4 room hdb at 20k below valuation

�

I wonder what will happen to the resale hdb market when all these ECs being built�are ready for occupation

�

standby popcorn and watch from my own hdb...

�

�

�

all depends on p8p's immigration polices IMO. 20k below current valuation but up 50-100% from long ago values still = net valuation gains lol...

�

musical chair goes on...
�

yalor ... the media keep harping on sell below valuation but fail to mention the valuation is no $500k no talk type for hdb

�

�

all depends on p8p's immigration polices IMO. 20k below current valuation but up 50-100% from long ago values still = net valuation gains lol...

�

musical chair goes on...
�

�

Edited by Wt_know, 09 November 2014 - 10:01 AM.

�
all depends on p8p's immigration polices IMO. 20k below current valuation but up 50-100% from long ago values still = net valuation gains lol...
�
musical chair goes on...
�

Of course earn because bought direct from hdb.

But selling below valuation means unexpectedly the loan on the ec became bigger than originally planned

1st day = 95% sold

2nd day = 98% sold

within 1 week = 100% sold?

can demolish showroom liao ... huat ah!!!

Attached Thumbnails

Edited by Wt_know, 09 November 2014 - 09:54 PM.

There's an article in ST yesterday on FH v 99 yrs leasehold, quite an interesting read actually.
Sorry I can't post the link as I not ST online subscriber but in short they claim if you intend to have better
rental yield, in would be better to invest in 99 yrs leasehold condo in view of the lower price upfront.

Obviously if you intend for own stay, then freehold may be better. Never thought of it this way
as I always thought freehold is better!

Lol I love it when they put the big board up and have sold stickers everywhere, make people Kan Cheong to go sign on the dotted line.

�

That said, This shows that Singaporeans are just Rich baby RICH! Huat!

�

Lakelife EC ... 95% sold ... huat ah!

8 years later (3 years to build + 5 years MOP) ... can make smelly smelly $500K?

�

�

There's an article in ST yesterday on FH v 99 yrs leasehold, quite an interesting read actually.
Sorry I can't post the link as I not ST online subscriber but in short they claim if you intend to have better
rental yield, in would be better to invest in 99 yrs leasehold condo in view of the lower price upfront.

Obviously if you intend for own stay, then freehold may be better. Never thought of it this way
as I always thought freehold is better!

Yes if for rental dont care about freehold or 99 as long as its near mrt and good location. If 99 there will be better return compared to freehold but then again when u sell ur property 10 years later, freehold will be better

Property pls dun drop pls dun drop!!!!!!!!!!!!! HUAT BIG BIG!!!

haha ... you onboard already ar?

no worry la ... longggggg term

�

Property pls dun drop pls dun drop!!!!!!!!!!!!! HUAT BIG BIG!!!

�

Edited by Wt_know, 10 November 2014 - 07:50 AM.

There's an article in ST yesterday on FH v 99 yrs leasehold, quite an interesting read actually.
Sorry I can't post the link as I not ST online subscriber but in short they claim if you intend to have better
rental yield, in would be better to invest in 99 yrs leasehold condo in view of the lower price upfront.

Obviously if you intend for own stay, then freehold may be better. Never thought of it this way
as I always thought freehold is better!

�

Didn't read the article but did they mention overall returns or just the rental yield?

�

Rental yield for 99yrs will of course be higher but the land+building is subject to depreciation as well. In the case of freehold, only the building is subject to depreciation.

�

One should always consider overall returns instead of just rental yield.

�
Didn't read the article but did they mention overall returns or just the rental yield?
�
Rental yield for 99yrs will of course be higher but the land+building is subject to depreciation as well. In the case of freehold, only the building is subject to depreciation.
�
One should always consider overall returns instead of just rental yield.

Fully agree with you on overall returns that's why I feel the article abit skewed cos they too focused on returns and they calculate based on the rental vs cost of the condo which obviously the 99 yr one wins.
When you eventually sell, the freehold should still fair better IMO. Think their point is for the overall quantum you pay, you get a better return esp in these days of TDSR.

Edited by Spring, 10 November 2014 - 10:05 AM.

aiya ... so many 99yrs leasehold condo build liao and no one buy

must run a story to tell people 99yrs leasehold condo got good returns in terms of rental yield ... even better than freehold

Edited by Wt_know, 10 November 2014 - 10:08 AM.

aiya ... so many 99yrs leasehold condo build liao and no one buy
must run a story to tell people 99yrs leasehold condo got good returns in terms of rental yield ... even better than freehold

Yah correct or else who buy 99?

Especially those in ulu area

and who want to rent at ulu area? nevermind ... Jurong Lake is the BEST ... 2 days sold 98% ...

Lakefront, Lakeholmz, Lakeside, Lakeville, LakeLife, LakeSimi ... huat ah!

�

Yah correct or else who buy 99?

Especially those in ulu area

�

Edited by Wt_know, 10 November 2014 - 10:23 AM.

I waiting for Lake Placid.

this is Lakefront but the balcony is looking at MRT track ... LOL

�

http://www.propertyg...ront-residences

�

UPHO.50002957.V550.jpg

Edited by Wt_know, 10 November 2014 - 10:42 AM.

this is Lakefront but the balcony is looking at MRT track ... LOL

�

http://www.propertyg...ront-residences

�

�

hullo its called urban living plus free alarm clock... many FTs from india n pinoyland will say this is world grass design ok
�

Edited by Duckduck, 10 November 2014 - 10:52 AM.

haha ... you onboard already ar?

no worry la ... longggggg term

�

�

�

:P

Not lakelife tho. + buying to stay / pushed price down to 2010/11 levels. Hope all goes smoothly.

and who want to rent at ulu area? nevermind ... Jurong Lake is the BEST ... 2 days sold 98% ...
Lakefront, Lakeholmz, Lakeside, Lakeville, LakeLife, LakeSimi ... huat ah!
�
�

Punggol now the ulu one, jurong gonna be cbd lol

No road works to airport , no direct access everywhere , i don't see how Jurong will facilitate the CBD requirements , though i do understand the need to decentralize.

�

As for the lake simi lake simi , personally i see why i will clusterf**k in jurong where it jams almost every morning and evening and how many FW fills up the malls everyday.

�

I am not having phobias but i do think as compared to wasting plenty of time on traveling and waiting for jams , i would prefer to stay nearer to my work place and spend lesser time on travels. I won't mind pay a little more as i think it addes up when you including waiting time , travel time , fuel and erp cost.

�

Anyway ,i am in view of a correction of the property prices since 2013 and will continue to remain this way at least til the elections.

Edited by CH_CO, 10 November 2014 - 03:23 PM.

i always hear this but one don't work in 1 company for life right ... not many > 5 years

whether east travel to central or west travel to central ... not much difference right?

even east travel to west still bearable in view of spore is a red dot, no?

�

No road works to airport , no direct access everywhere , i don't see how Jurong will facilitate the CBD requirements , though i do understand the need to decentralize.

�

As for the lake simi lake simi , personally i see why i will clusterf**k in jurong where it jams almost every morning and evening and how many FW fills up the malls everyday.

�

I am not having phobias but i do think as compared to wasting plenty of time on traveling and waiting for jams , i would prefer to stay nearer to my work place and spend lesser time on travels. I won't mind pay a little more as i think it addes up when you including waiting time , travel time , fuel and erp cost.

�

Anyway ,i am in view of a correction of the property prices since 2013 and will continue to remain this way at least til the elections.

�

Edited by Wt_know, 10 November 2014 - 03:54 PM.

i always hear this but one don't work in 1 company for life right ... not many > 5 years

whether east travel to central or west travel to central ... not much difference right?

even east travel to west still bearable in view of spore is a red dot, no?

�

�

�

True to some and not true to others , for my case , i have stayed near town for almost the past 30 over years� , my average travel time be driving(no jam) or taking an mrt to my work place is around 15~20 mins.

�

I have practically worked in town for the past 15 years and i do think , having a shorter traveling time would save me alot of time over the long run to do other stuff.

�

I cite an example , if i stay in jurong and work in town , let's say raffles place , the average traveling time is at least 40 mins and another 40 mins back . 1hour and 20 mins. For my case , i roughly take 15mins~20mins under normal traffic to reach home from where i work let say i over estimate , 25 mins , the difference is at least 30 mins per day.

�

Not alot , but if you include , travel cost , Erp , Jams and petrol , i save at least 10-30 bucks on productivity related cost mutiple by 300 days * 5 = it is a difference of 45k over a period of 5 years , not alot of difference for some but i rather spend my 30 mins doing something else like having coffee with someone than to be stuck traveling.

�

Now a house in jurong 4 rooms 460k and one let's say in tiong bahru/potong pasir cost 600k the difference of 140k is offset by a 45k difference over 5 years not to mention capital appreciation. Of course i don't deny people changing their jobs and locations , different people different requirements.

Edited by CH_CO, 10 November 2014 - 04:16 PM.

LOL for the train enthusiast, surprise the agent even use the picture to begin with.

�

this is Lakefront but the balcony is looking at MRT track ... LOL

�

http://www.propertyg...ront-residences

�

�

�

LOL for the train enthusiast, surprise the agent even use the picture to begin with.
�
�

Depend sometimes insulation very good so minimal noise when window close but when never use aircon, thats it

Still beats UK I guess, I remember some house were literally next to the tube line. Residing there would be jolly good fun hehe

�

Depend sometimes insulation very good so minimal noise when window close but when never use aircon, thats it

�

�

Didn't read the article but did they mention overall returns or just the rental yield?

�

Rental yield for 99yrs will of course be higher but the land+building is subject to depreciation as well. In the case of freehold, only the building is subject to depreciation.

�

One should always consider overall returns instead of just rental yield.

�

I'm a simple man. I can't just stomach paying so much money for something that's not freehold. Even if it's 200-300k cheaper.�

But my friend is single (no siblings) and plans to stay single, for him, i agree buying 99LH for your own stay and rental makes sense for him. Cos when he dies, he's just going to donate what's left to charity.

�
True to some and not true to others , for my case , i have stayed near town for almost the past 30 over years� , my average travel time be driving(no jam) or taking an mrt to my work place is around 15~20 mins.
�
I have practically worked in town for the past 15 years and i do think , having a shorter traveling time would save me alot of time over the long run to do other stuff.
�
I cite an example , if i stay in jurong and work in town , let's say raffles place , the average traveling time is at least 40 mins and another 40 mins back . 1hour and 20 mins. For my case , i roughly take 15mins~20mins under normal traffic to reach home from where i work let say i over estimate , 25 mins , the difference is at least 30 mins per day.
�
Not alot , but if you include , travel cost , Erp , Jams and petrol , i save at least 10-30 bucks on productivity related cost mutiple by 300 days * 5 = it is a difference of 45k over a period of 5 years , not alot of difference for some but i rather spend my 30 mins doing something else like having coffee with someone than to be stuck traveling.
�
Now a house in jurong 4 rooms 460k and one let's say in tiong bahru/potong pasir cost 600k the difference of 140k is offset by a 45k difference over 5 years not to mention capital appreciation. Of course i don't deny people changing their jobs and locations , different people different requirements.

Dude, dont teach people all our kung fu leh..... Wah lao, wait they all want to buy D9, then how?
Leave a few for me lah.....

a few ... like 5-10 units? [thumbsup]

Edited by Wt_know, 10 November 2014 - 11:33 PM.

4 will do, with absd, better get penthouse

Dude, dont teach people all our kung fu leh..... Wah lao, wait they all want to buy D9, then how?
Leave a few for me lah.....

�

I cannot afford anyway , so i might as well spoil haha

a few ... like 5-10 units?

A few hundred sft, l mean.

Can only afford 399sft unit at most

Plse give chance.

Bishan, amk, huat ahh

Bishan, amk, huat ahh

�

jurong -5%... lakelife almost sold out... i dont see any problems there... NOT!! lolz

�

i suspect sentosa rent has dropped 10-20% thats why no data there coz dun wanna kachau the elite FTs there

Edited by Duckduck, 11 November 2014 - 10:05 AM.

mycarforum

Thứ Tư, 4 tháng 1, 2017

Rupiah/Rupee at risk, SG/HK risk property bubble part 37

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