mycarforum: Rupiah/Rupee at risk, SG/HK risk property bubble part 15

Tell me this is a joke! Is luxury watch shops so desperate to sell their watches?

Why dont they save it every month until 40th month then buy the watch in full cash?

Soon we will have interest free 24 months installment for fine dining bill

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Is not desperate. Is called clever, tapping into new market and expanding the customer base.

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The desperate ones are those taking 40 month instalment plans [grin]

Really?

Then it MUST be him.

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damn bo liao to go and write this kinda of article...

Tell me this is a joke! Is luxury watch shops so desperate to sell their watches?

Why dont they save it every month until 40th month then buy the watch in full cash?

Soon we will have interest free 24 months installment for fine dining bill

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there is nothing wrong with the instalment plan what.. it is interest free and based on time value of money, you stand to gain

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Only problem is people who should not be buying jumping at this schemes

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there is nothing wrong with the instalment plan what.. it is interest free and based on time value of money, you stand to gain

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Only problem is people who should not be buying jumping at this schemes

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Agrees.�

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Depends who is financing the cost - if the watch shop is bearing the cost, I rather ask for upfront discount. �BUT if it is something the bank is paying for, why not?�

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I rather keep money in my own pocket first.�

Tell me this is a joke! Is luxury watch shops so desperate to sell their watches?

Why dont they save it every month until 40th month then buy the watch in full cash?

Soon we will have interest free 24 months installment for fine dining bill

�

Eat one night 1k, 2 years later still paying... lol

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Agrees.�

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Depends who is financing the cost - if the watch shop is bearing the cost, I rather ask for upfront discount. �BUT if it is something the bank is paying for, why not?�

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I rather keep money in my own pocket first.�

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For a house, car maybe.

For a pure luxury item ?� This is prudent? Or simply spending money one does not have to keep up with the Joneses?

This is financial suicide as far as i am concerned.

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For house, no choice.

For watches? A pure luxury good? Sheer stupidity. IMHO.
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Time value of money is correct, but how much can you actually generate?

20k put in your bank account for the next 3 years can generate how much? 3% total or less? Hardly life changing money.

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For a house, car maybe.

For a pure luxury item ?� This is prudent? Or simply spending money one does not have to keep up with the Joneses?

This is financial suicide as far as i am concerned.

�

For house, no choice.

For watches? A pure luxury good? Sheer stupidity. IMHO.
�

Time value of money is correct, but how much can you actually generate?

20k put in your bank account for the next 3 years can generate how much? 3% total or less? Hardly life changing money.

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Some people are just nucking futs...

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If i am not wrong, someone (a forum regular) did once enquire about instalment plan for Rolex at our watch thread....

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Eat one night 1k, 2 years later still paying... lol

U forgot how it taste but u cant forget to pay the monthly installments haha

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Some people are just nucking futs...

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If i am not wrong, someone (a forum regular) did once enquire about instalment plan for Rolex at our watch thread....

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wah buy car installment already T2 laff liao.. buy watch installment, i think T2 will spit on him...

haha ... a $10k sub / 40 months = $250 per month ... sibei cheap and affordable

hmm ... will this $250/mth eats into TDSR? lol

40 years old buy $10k sub with 40 months installment? ok ... i'm not trying to suan but this does not sounds right

somemore working in banking sector? 40 months ... why bank want to give you 40 months means 40 payments

miss 1 payment ... kena finance fees + interest + whatever ... the more you skip/miss ... the more interest+interest formula kick in

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f**king nuts!� LOL

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An associate at 40?????� I didn't know banks hired 40-year old fresh grads!?!?!?!

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Or did he mean Associate Director and the reporter screwed it up?

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In any case, other people at 40 years old are already ED or MD loh!� At the very least also a D.� AD are those 20-something years old people leh!

that goes to already show the fellow cannot afford it...period!

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damn bo liao to go and write this kinda of article...

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there is nothing wrong with the instalment plan what.. it is interest free and based on time value of money, you stand to gain
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Only problem is people who should not be buying jumping at this schemes

Theres something wrong, if u cant afford the 10k dont go for installment. What u adding is liabilities every months and during hard times, it will be even worse.

Even if u have the money, how much u can get from investing it? Cos once u forgot to pay installment the interest will kick in.

This is a pure luxury small item unlike house, car, yatch or even renovation that u can take loan as amount are too big to be fork out.

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wah buy car installment already T2 laff liao.. buy watch installment, i think T2 will spit on him...

T2 WILL CRY LOL

Theres something wrong, if u cant afford the 10k dont go for installment. What u adding is liabilities every months and during hard times, it will be even worse.

Even if u have the money, how much u can get from investing it? Cos once u forgot to pay installment the interest will kick in.

This is a pure luxury small item unlike house, car, yatch or even renovation that u can take loan as amount are too big to be fork out.

T2 WILL CRY LOL

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well, at least all of us here on the same page on buying a watch like that......lollllll

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so T2, your work has reaped some benefits....hahahahaha

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Is not desperate. Is called clever, tapping into new market and expanding the customer base.
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The desperate ones are those taking 40 month instalment plans

Haha this guy at his 40s, not trying to reduce liabilities but decided to add it, at his age he should be thinking to reduce his debt, maybe he has no intention to retire

Haha this guy at his 40s, not trying to reduce liabilities but decided to add it, at his age he should be thinking to reduce his debt, maybe he has no intention to retire

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40 years old still cannot think.... is gone case liao....

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Sian lah.... taxpayers like us have to support people like him in the future....

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40 years old still cannot think.... is gone case liao....

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Sian lah.... taxpayers like us have to support people like him in the future....

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he shd start collecting tin cans, cardboxes now....muahahaha

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wah buy car installment already T2 laff liao.. buy watch installment, i think T2 will spit on him...

Then I think throttle will shoot me. My property tax and lift upgrading is paid in installments..

Prop tax is $10 a month

Lift is $7 a month from cpf. For 10 yrs.

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40 years old still cannot think.... is gone case liao....

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Sian lah.... taxpayers like us have to support people like him in the future....

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hey, look on the bright side. �At least the repo man has expanded his business base as well as items to repo...muahahaha

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40 years old still cannot think.... is gone case liao....
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Sian lah.... taxpayers like us have to support people like him in the future....

U will be retiring, it will be taxpayers like my gen who supporting him lol

Then I think throttle will shoot me. My property tax and lift upgrading is paid in installments..

Prop tax is $10 a month

Lift is $7 a month from cpf. For 10 yrs.

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u dead meat man! [grin] � [grin] � [grin]

U will be retiring, it will be taxpayers like my gen who supporting him lol

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ok can i take your W212 first? �my initial deposit of my retirement...kekekekeek

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he shd start collecting tin cans, cardboxes now....muahahaha

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yeah... now still relatively young... still can piah.... should be able to collect more than those old folks at chinatown.... can wipe out the competition and build his tin can card box empire

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u dead meat man! � �

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ok can i take your W212 first? �my initial deposit of my retirement...kekekekeek

U got F10 liao still wan W212? Haha exchange ai mai?

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well, at least all of us here on the same page on buying a watch like that......lollllll
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so T2, your work has reaped some benefits....hahahahaha

Yeah. I wanted to buy AP but too expensive.

So downgrade to hublot

Also quite expensive. So going to get a 2nd hand one..

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eh, you go to your sex party thread and leave us retirees here � � �

U got go ballot for hillford or not? Heard all sold out leh

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I also poor man that's why I keep quiet or stir s h i t nia :p

I also but i talk here makes me feel i am lich haha

U got go ballot for hillford or not? Heard all sold out leh

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hahaha..pls lah....live among old foggies.......er... not yet lah [grin] � [grin] � [grin]

I also but i talk here makes me feel i am lich haha

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LOL� [laugh]

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hahaha..pls lah....live among old foggies.......er... not yet lah � �

Don't wanna live with them then rent to them first lah haha

Don't wanna live with them then rent to them first lah haha

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knn..die then how collect the remaining rent? �2 mths deposit no enuf hor...kekekeke

Screenshot+-+17_1_2014+,+6_20_54+PM.jpg

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well, at least all of us here on the same page on buying a watch like that......lollllll
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so T2, your work has reaped some benefits....hahahahaha

Indeed my hard work has paid off, i feel so gratified. Tears are streaming down my cheeks....

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For a house, car maybe.

For a pure luxury item ?� This is prudent? Or simply spending money one does not have to keep up with the Joneses?

This is financial suicide as far as i am concerned.

�

For house, no choice.

For watches? A pure luxury good? Sheer stupidity. IMHO.
�

Time value of money is correct, but how much can you actually generate?

20k put in your bank account for the next 3 years can generate how much? 3% total or less? Hardly life changing money.

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You've got two choices

a) Pay cash of $20k

b) Spread it over 40 months interest free.

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Which is better for you?

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Obviously b right?

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It's not life changing money - but ultimately enough drops make an ocean...

$20k go MBS big/small become $40k (100% return) or $0 ... life changing

Edited by Wt_know, 17 January 2014 - 08:57 PM.

http://www.standard....nd-9063907.html

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You've got two choices
a) Pay cash of $20k
b) Spread it over 40 months interest free.
�
Which is better for you?
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Obviously b right?
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It's not life changing money - but ultimately enough drops make an ocean...

Nope, i beg to differ.
Option A is better.
And if i cant do option A, i cant afford it, period, dont buy.
40mths?? Thats too freaking troublesome.

Therefore, if only have drops, dont make ocean lah, just fill a mini crucible can already.
It's ok, no everyone can make an ocean, or even a lake, or a pond. Sometimes a puddle is fine.
No need to slap face swollen to look fat.

Can you imagine someone in a big Bentley asking his driver to let the car roll in neutral to save petrol? If it's a Pplated cheryQQ driver doing that, can still understand. Want to buy luxury? be luxurious lah....

$20k go MBS big/small become $40k (100% return) or $0 ... life changing

Your life so cheap ah??
Chey.....

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You've got two choices

a) Pay cash of $20k

b) Spread it over 40 months interest free.

�

Which is better for you?

�

Obviously b right?

�

It's not life changing money - but ultimately enough drops make an ocean...

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Obviously? No, not so obvious to me.�

My option is A.

The pride and joy of ownership, knowing that i truly earned and own this watch, outright, right now, outweighs the measly 'returns'.

I deserve to take pride in what i have achieved, since i own and earned it.

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Option b does not hold any pride or 'milestone' for me, as i have yet to earn and yet to own this 'milestone' outright.

If there's no pride, why buy this luxury item?

I am merely 'borrowing' it, merely pretending to have achieved. Empty pride. Yet to achieve. Who are you really kidding?

If so, it holds no value to me. No pride of ownership.

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Well to each is own, and i realize you come from a different cultural background from most of us here.

So lets agree to disagree.

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You've got two choices
a) Pay cash of $20k
b) Spread it over 40 months interest free.
�
Which is better for you?
�
Obviously b right?
�
It's not life changing money - but ultimately enough drops make an ocean...

Obviously A, why? Cos this is a luxury item and if u cant afford it to pay cash, then dont buy.

Unlike car, housing and reno, this is a need and luxury as well.

If u have a drops of water, dont expect it can fill up a sea

$20k go MBS big/small become $40k (100% return) or $0 ... life changing

I like this! If $0 save up another 40 months and try to make a comeback again haa

Nope, i beg to differ.
Option A is better.
And if i cant do option A, i cant afford it, period, dont buy.
40mths?? Thats too freaking troublesome.

Therefore, if only have drops, dont make ocean lah, just fill a mini crucible can already.
It's ok, no everyone can make an ocean, or even a lake, or a pond. Sometimes a puddle is fine.
No need to slap face swollen to look fat.

Can you imagine someone in a big Bentley asking his driver to let the car roll in neutral to save petrol? If it's a Pplated cheryQQ driver doing that, can still understand. Want to buy luxury? be luxurious lah....

Your life so cheap ah??
Chey.....

The guy who loan money to buy entry level lolex put us as lolex owners into shame lol

Indeed my hard work has paid off, i feel so gratified. Tears are streaming down my cheeks....

I recommend you national day medal

U drive in w tony in ur 911. Dun speed hor cos his s500 ONI.. Summore TP escort

Lol
Agree w teddy t2 on this

This is a clear luxury item I will save then buy

But I sign credit card la get points then pay full haha

Let's agree to disagree here and guess it makes luxury kinda affordable

I wun go that route tho

Obviously A, why? Cos this is a luxury item and if u cant afford it to pay cash, then dont buy.

Unlike car, housing and reno, this is a need and luxury as well.

If u have a drops of water, dont expect it can fill up a sea

I like this! If $0 save up another 40 months and try to make a comeback again haa

The guy who loan money to buy entry level lolex put us as lolex owners into shame lol

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I totally agree with you.. if someone needs to loan to buy a lolex. I think it's silly.. It's a shame.

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hmm... but what if you have > 20k in the bank to pay for the watch..

how would you pay ? by instalment or by in 1 full payment ?� And the AD will still give you the max discount.

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the only issue i see that�with mthly instal, you may miscalculate your total liabilities, mthly commitments�and also there are chance you miss payment because you forgotten.

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anyway, if 20k is just loose change to you.. how you chose to pay for it ..really does not matter. Of course , i will chose the one with max benefit. to monitor deduction for 40 mths.. may be too much trouble in this case.

Edited by ShepherdPie, 18 January 2014 - 01:29 AM.

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I totally agree with you.. if someone needs to loan to buy a lolex. I think it's silly.. It's a shame.

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hmm... but what if you have > 20k in the bank to pay for the watch..

how would you pay ? by instalment or by in 1 full payment ?� And the AD will still give you the max discount.

�

the only issue i see that�with mthly instal, you may miscalculate your total liabilities, mthly commitments�and also there are chance you miss payment because you forgotten.

�

�

anyway, if 20k is just loose change to you.. how you chose to pay for it ..really does not matter. Of course , i will chose the one with max benefit. to monitor deduction for 40 mths.. may be too much trouble in this case.

if i got 20k only and really really dying for a rolex maybe i will pay for full cash or by credit card at most 6 months installments(in case in need of $$$)

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Even if AD give slightly more discount if take loan, if u miss ur payment the penalty will be much more than that

If need installment plan to buy watch to commemorate milestone means haven't reach milestone.

Commemorate smlj?

I think URA made a mistake in allowing for HUGE numbers of MMs to be built in Hillford because it is supposed to be retirement housing and yet did not set the requirement for age of buyers...

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This is really stupid. If you want to artificially distort the market with measures like restrictions on MMs, you must APPLY it across the board. If it is meant for retirement homes, PLEASE sell it to old people..... how stupid can they be by allowing Hillford to built so many MMs and yet sell it to young people.

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Anyway if you read the MAS article, they never said the housing bubble will not burst but rather that the financial system in Singapore can withstand the burst, ie the banks will not die. They never say anything about the pain on the borrowers. They say the loan to value ratio is like 50%, so the market can probably crash 50% and the banks can still get back their value....

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Most of the article is focused on the health of the banks I guess.�

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parent will do anything for their children. by the time hillford is ready she is 78+?

since this is a private project, i guess there is no "subsidy" from govt

i assume there is nothing wrong about it since many old folk already doing it with their hdb

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any unit between $500k-$600k, people will grab without 2nd thought

that's why all these property agents come out and say ... who care about retirement resort (many old people stay), who care about 60 years leasehold, as long as low quantum ... whack liao

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good alternative for new minted PR since cannot buy resale hdb

but still need to wait for a few years leh ... why not buy ready < 10 years old condo - but price is indeed crazy

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Edited by Wt_know, 18 January 2014 - 09:21 AM.

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I totally agree with you.. if someone needs to loan to buy a lolex. I think it's silly.. It's a shame.
�
hmm... but what if you have > 20k in the bank to pay for the watch..
how would you pay ? by instalment or by in 1 full payment ?� And the AD will still give you the max discount.
�
the only issue i see that�with mthly instal, you may miscalculate your total liabilities, mthly commitments�and also there are chance you miss payment because you forgotten.
�
�
anyway, if 20k is just loose change to you.. how you chose to pay for it ..really does not matter. Of course , i will chose the one with max benefit. to monitor deduction for 40 mths.. may be too much trouble in this case.

If $20k is your life savings in todays environment.
I can only say "Good Luck"

Edited by Throttle2, 18 January 2014 - 09:08 AM.

Screenshot+-+18_1_2014+,+9_43_01+AM.jpg

Only 5% ?????!!!!

Muayhahahahaha

If 5% better they just shut up and not report. Waste time.

Only 5% ?????!!!!

Muayhahahahaha

If 5% better they just shut up and not report. Waste time.

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teaser mah....

say Singapore will meltdown kenna shoot jiatlat...

Only 5% ?????!!!!

Muayhahahahaha

If 5% better they just shut up and not report. Waste time.

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cannot create panic, cannot create panic. [laugh] [laugh]

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teaser mah....
say Singapore will meltdown kenna shoot jiatlat...

True true......

Muayhahahaha

If $20k is your life savings in todays environment.
I can only say "Good Luck"

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cannot liddat say, depends on how long someone is in the job market leow.

i m not surprise that most SGeans does not have 20k as life savings. CPF not counted hor...� [laugh] [laugh]
�

True true......

Muayhahahaha

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don't worry...

we have 1 whole year

now US news media very hardworking,

almost everyday have something to attack Singapore financial system, property market, foreign worker welfare

blindman throw enough darts at dart board long enough, will also hit bulleyes loh

why the US news media is "keen" to attack Singapore especially financial system

i thought the US has a "vested" interest in spore financial system [sly]

isn't the QE hot money is here milking as high returns as possible?

�

don't worry...

we have 1 whole year

now US news media very hardworking,

almost everyday have something to attack Singapore financial system, property market, foreign worker welfare

blindman throw enough darts at dart board long enough, will also hit bulleyes loh

�

Edited by Wt_know, 18 January 2014 - 10:32 AM.

why the US news media is "keen" to attack Singapore especially financial system

i thought the US has a "vested" interest in spore financial system

isn't the QE hot money is here milking as high returns as possible?

�

�

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they have been slowly shifting money out before the media war?

Finally peasant bashing ended liao and back to topic

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cannot liddat say, depends on how long someone is in the job market leow.
i m not surprise that most SGeans does not have 20k as life savings. CPF not counted hor...�
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That why i say Good Luck to them. If already 30yrs old and life savings is $20K better dont buy car or luxury watch...

Edited by Throttle2, 18 January 2014 - 11:14 AM.

Finally peasant bashing ended liao and back to topic

On the contrary, its not peasant bashing.
Got nothing to do with being rich or poor.
Everything to do with mindset and attitude.

If no money dont kehkiang take instalment to buy luxury
If work hard save up to acheive, then there is more honor and meaning compared to a rich kid taking his fathers money to buy a $300k watch.

So its not peasnt bashing Enye, you need to get that right mate

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cannot liddat say, depends on how long someone is in the job market leow.
i m not surprise that most SGeans does not have 20k as life savings. CPF not counted hor...�
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Most SGans do not have 20k in life savings? Can't be that bad lah.

http://www.straitsti...quotas-20140118

what talking?

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rents could fall significantly and but this is only 1% of such neigbourhoods hit the caps

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like saying coe could fall significantly because coe quota increased by 10 coes per category?

Edited by Wt_know, 18 January 2014 - 05:44 PM.

what talking?
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rents could fall significantly and but this is only 1% of such neigbourhoods hit the caps
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like saying coe could fall significantly because coe quota increased by 10 coes per category?

Eh, how come now property agent say owners will SCRAMBLE leh.

Such a small thing already need to scramble, then property prices come off 20% , they all hang themselves , commit suicide?

muayhahahaha
No one wants to be last man standing leh....

Edited by Throttle2, 18 January 2014 - 06:55 PM.

ok just bruising, so 5% is correct. If 20%, then call slaughtering.�

why the US news media is "keen" to attack Singapore especially financial system

i thought the US has a "vested" interest in spore financial system

isn't the QE hot money is here milking as high returns as possible?

�

�

doubt they really care in this tiny market.�

doubt they really care in this tiny market.�

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got alot of money park here, key to create some panic to scare off the money
�

Edited by Goldbug, 18 January 2014 - 10:02 PM.

I seriously think all these measures should have been implemented 2 years back. Singapore has became a country where her citizens become too obsessed with property investment as a form of living.�

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We are becoming less "less" practical in how we make money.

this is the sure win method that everyone is cheonging

buy bto $300k (waited 3 years) sell $500K+ (5 years mop)

upgrade to ec $800k+ aim for bigger unit and planning to sell $1.3M+ (5 years mop)

this plan take at least 13 years ... how to roll $300K to $1.3M ... huat ah!

�

I seriously think all these measures should have been implemented 2 years back. Singapore has became a country where her citizens become too obsessed with property investment as a form of living.�

�

We are becoming less "less" practical in how we make money.

�

Edited by Wt_know, 18 January 2014 - 11:25 PM.

this is the sure win method that everyone is cheonging
buy bto $300k (waited 3 years) sell $500K+ (5 years mop)
upgrade to ec $800k+ aim for bigger unit and planning to sell $1.3M+ (5 years mop)
this plan take at least 13 years ... how to roll $300K to $1.3M ... huat ah!
�
�

Buy bto $300k take how much loan?
Sell for $500k but need to pay how much outstanding loan?
Take remainder to Upgrade to EC and take how much additional loan?
Sell for $1.3mil and need to pay how much outstanding loan for the EC
Take remainder to buy private and take up how much loan?

In the end got how much loan ?

Huat Ah!

Edited by Throttle2, 19 January 2014 - 12:37 PM.

just keep rolling loan la ... retirement is raised to 70 years old ma (planning)

just keep rolling loan la ... retirement is raised to 70 years old ma (planning)

Rolling loan is ok as long as valuation up and up and up, income in and in and in.

When valuation down and income no in, rolling loan will be a rolling pin on your neck....muayhaha.
But of course, in Singapore , everyone is so rich, will never happen.

this is the sure win method that everyone is cheonging

buy bto $300k (waited 3 years) sell $500K+ (5 years mop)

upgrade to ec $800k+ aim for bigger unit and planning to sell $1.3M+ (5 years mop)

this plan take at least 13 years ... how to roll $300K to $1.3M ... huat ah!

�

�

i got a better plan.�

�

Start with BTO, 5 years later sell, apply another BTO. Use profits buy Commercial/Industrial property.�

�

Another 5 years later, Keep BTO, sell commercial property and buy Condo. I rather skip the EC part cos HDB provides the safest investment and guaranteed rentals.�

�

Too bad i already pass that age. So young folks under 30, start with BTO unless u got loads of cash.�

Edited by Felipe, 19 January 2014 - 01:58 PM.

since 2009 till today less than 5 years property jump at least 50% liao
$800k become $1.2M liao ... huat ah

bukit batok landed opposite ite pavilion place 2.2M jump to 3.2M liao

Rolling loan is ok as long as valuation up and up and up, income in and in and in.

When valuation down and income no in, rolling loan will be a rolling pin on your neck....muayhaha.
But of course, in Singapore , everyone is so rich, will never happen.

Edited by Wt_know, 19 January 2014 - 02:31 PM.

the above 2 examples are not very expensive properties. no fight to d10 but in less than 5 years 50% jump ...

can roll? hehe

Edited by Wt_know, 19 January 2014 - 03:01 PM.

i got a better plan.�

�

Start with BTO, 5 years later sell, apply another BTO. Use profits buy Commercial/Industrial property.�

�

Another 5 years later, Keep BTO, sell commercial property and buy Condo. I rather skip the EC part cos HDB provides the safest investment and guaranteed rentals.�

�

Too bad i already pass that age. So young folks under 30, start with BTO unless u got loads of cash.�

�

nothing is confirm... it is all about luck and timing.

�

I personally bought a 500+k EC in 2001 when I started out working and my wife still studying. Parents no money one...

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stupid and risky decision no matter how you look at it at 2001... but on hindsight it made me money.

�

If I went BTO in 2001, I will probably be much worse of today.�

I am thinking about our singapore property problem.

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I think almost EVERYONE feels that the prices is too high. The government found that out during the "singapore conversation".

�

The trick is of course how to bring the prices down.

�

One of the policy was to release much more land and BTO. I am wondering if that is actually beneficial. All the supply seems to get sucked up by the insatiable demand which means more and more singaporean money has become invested in property. Almost everyone I know has bought a property or two during the last 3 years. The problem is that those units do not get built instantly and comes on like 3 years later.�

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When a downturn comes, it is really going to hurt because almost EVERYONE is vested.

�

I really hope the government is keeping those money they made from the land sales secure cuz we are probably going to need them when the down turn comes. I think the best solution out of this mess is for the government to make as much money as they can (by pricing the land as high as possible and keeping the developers margin low and through taxes like ABSD) and saving those money.

�

It make look bad to the man on the street but it is FAR FAR better than letting the profits go into the developers pocket....

I am thinking about our singapore property problem.

�

I think almost EVERYONE feels that the prices is too high. The government found that out during the "singapore conversation".

�

The trick is of course how to bring the prices down.

�

One of the policy was to release much more land and BTO. I am wondering if that is actually beneficial. All the supply seems to get sucked up by the insatiable demand which means more and more singaporean money has become invested in property. Almost everyone I know has bought a property or two during the last 3 years. The problem is that those units do not get built instantly and comes on like 3 years later.�

�

When a downturn comes, it is really going to hurt because almost EVERYONE is vested.

�

I really hope the government is keeping those money they made from the land sales secure cuz we are probably going to need them when the down turn comes. I think the best solution out of this mess is for the government to make as much money as they can (by pricing the land as high as possible and keeping the developers margin low and through taxes like ABSD) and saving those money.

�

It make look bad to the man on the street but it is FAR FAR better than letting the profits go into the developers pocket....

�

Unlike HK and PRC govt, SG gov cannot spend the land sales revenue. It is channelled into reserve .

look at HK ... man on the street "hate" lee ka shing ... protest after protest
cheung kong is one of the biggest hk property tycoon (tyrant)
it was reported he is moving funds ... billions and billions to europe particularly to london/uk after milking hk high & dry

�
It make look bad to the man on the street but it is FAR FAR better than letting the profits go into the developers pocket....

Edited by Wt_know, 19 January 2014 - 04:01 PM.

�

Unlike HK and PRC govt, SG gov cannot spend the land sales revenue. It is channelled into reserve .

�

but can redirect to auntie Ho for investment boh?
�

�

Unlike HK and PRC govt, SG gov cannot spend the land sales revenue. It is channelled into reserve .

�

Yes, but the reserves are not sitting idly somewhere and they are invested by temasek/GIC....

�

lets hope for all our sake, they are doing well...

�

I think they are heavily invested in Asia right? I hope they know when to get out or at least spread out the risks....

since 2009 till today less than 5 years property jump at least 50% liao
$800k become $1.2M liao ... huat ah

bukit batok landed opposite ite pavilion place 2.2M jump to 3.2M liao

Landed is no brainer here cos land limited in supply. Landed owners here are like owning goldmine

it's goldmine indeed because it's freehold

�

Landed is no brainer here cos land limited in supply. Landed owners here are like owning goldmine

�

Edited by Wt_know, 19 January 2014 - 05:27 PM.

Landed is no brainer here cos land limited in supply. Landed owners here are like owning goldmine

i have seen landed sold at 1.2 mil 4 years back sold at 2.6 mil now. if you go back to like 7 years or more, the prices has like tripled

sell now can make $400k-$500k profit ... [thumbsup]

�
nothing is confirm... it is all about luck and timing.
�
I personally bought a 500+k EC in 2001 when I started out working and my wife still studying. Parents no money one...
�
stupid and risky decision no matter how you look at it at 2001... but on hindsight it made me money.
�
If I went BTO in 2001, I will probably be much worse of today.�

Very lucky indeed.
But careful, luck can run out
Just like how it is going to be for many people in the next 5 yrs.
Therefore better have some skills to counter the bad luck.
Instead of hoping and hoping for good luck to continue.

Edited by Throttle2, 19 January 2014 - 08:30 PM.

Very lucky indeed.
But careful, luck can run out
Just like how it is going to be for many people in the next 5 yrs.
Therefore better have some skills to counter the bad luck.
Instead of hoping and hoping for good luck to continue.

Let's hope those guys have enough to cope with the coming troubled times...for me.. just an ordinary citizen with just one lousy property and one lousy car. So should be ok

money mind > saville > alan cheong commented it is highly unlikely (almost impossible) for property to drop 10-15%
simple because of the high land price and escalation cost ... 10-15% of a mass market $1M is $100k-$150k leh
you think developer will accept such loss to clear units?

�
nothing is confirm... it is all about luck and timing.
�
I personally bought a 500+k EC in 2001 when I started out working and my wife still studying. Parents no money one...
�
stupid and risky decision no matter how you look at it at 2001... but on hindsight it made me money.
�
If I went BTO in 2001, I will probably be much worse of today.�

i believe BTO made the most percentage gains. Folks bought punggol for 100+k selling for 500k.

of cos EC will make money but having a flat just makes u a little special cos a group of ppl can't buy it n u will never starve of rental

i have seen landed sold at 1.2 mil 4 years back sold at 2.6 mil now. if you go back to like 7 years or more, the prices has like tripled

those guys r lucky or just good foresight. I used to hate landed cos i hate living on the ground n its warm but simply can't ignore it anymore. The traditional sporean will just buy land over orchard condo.

yup ... punggol and sengkang BTO generate one of the highest ROI because when these 2 places release BTO ... bo lang ai ... complaining these 2 are new towns and got no ameneties ... now new project darling are punggol and sengkang ... in term of mass market price point

�

i believe BTO made the most percentage gains. Folks bought punggol for 100+k selling for 500k.

of cos EC will make money but having a flat just makes u a little special cos a group of ppl can't buy it n u will never starve of rental

�

yup ... punggol and sengkang BTO generate one of the highest ROI because when these 2 places release BTO ... bo lang ai ... complaining these 2 are new towns and got no ameneties ... now new project darling are punggol and sengkang ... in term of mass market price point
�
�

i would be abit careful about condo in that area cos prices r peak these days. Hdb, especially bto, dun bother too much, just buy if u can

money mind > saville > alan cheong commented it is highly unlikely (almost impossible) for property to drop 10-15%
simple because of the high land price and escalation cost ... 10-15% of a mass market $1M is $100k-$150k leh
you think developer will accept such loss to clear units?

That thinking is muddle headed.�

Where got "accept" or not accept losses?�

�

If a property is only "worth" $X, then that is its value - whether I want to accept it or not.�

Remember also that there are holding costs, as well as govt penalties for unsold units in a development.�

�

Think this way...

�

Lets say your cost is $1 million

Interest on the loan 2% is $20k per year.�

Got govt penalty of 8% per additional year if unsold. �This works out to $100k -�

Would you sell now for $920k or hold on for a year? �

�

And that's before things like cash flow and a dropping market come in...

�

yup ... punggol and sengkang BTO generate one of the highest ROI because when these 2 places release BTO ... bo lang ai ... complaining these 2 are new towns and got no ameneties ... now new project darling are punggol and sengkang ... in term of mass market price point

�

�

�

Would be interesting to know how many unsold units there are across all the recent releases. �

BTO needs 80% before go ahead right? �That means that potentially there are 20% unsold...

�

That's a lot of units!�

�

Also, once fully build, the area is going to be horribly crowded...I hate to think what TPE is going to be like in 5 years

let's say for similar size unit ...

buyer A bought $1M+ during launch

buyer B bought $850K-$900k close/after to TOP

can buyer A "sue" developer for undercutting price to clear unsold units? what's the law says?

Edited by Wt_know, 20 January 2014 - 09:14 AM.

simply put.. if current conditions remain the same... tight labour mkt, low interest rates, moderate economic growth etc.

�

prices psf will still remain no matter how long buyers try to hold out. That is because the developers are still setting the price. And they have no rush to offload (talking abt big developers)

�

Anyone hoping to see 15%, 20% or 40% discount will have to wait for a mini asia crisis.. possibly triggered from china.. as funds start to reverse back to the west, bank interest rates rise, and slowdown causing more retrenchments.

�

so look out for the signs and make the judgement call yourself�

Buy bto $300k take how much loan?
Sell for $500k but need to pay how much outstanding loan?
Take remainder to Upgrade to EC and take how much additional loan?
Sell for $1.3mil and need to pay how much outstanding loan for the EC
Take remainder to buy private and take up how much loan?

In the end got how much loan ?

Huat Ah!

�

wife's good friend..�

�

bought HDB at 300K. Sold at 500K

�

upgrade to condo at 1.1m. Sold at 1.6m

�

upgrade to good district condo at 2.5m... sold at ??? (in future)

�

of course, all these happened during the 2004 to 2013 period.

�

According to my mother in law and my wife, they are very clever. Even though debts went up from 100K to now 1m (or more?), they have "made it" in life.. no matter how the mkt crash, they will still be in the money. both couple working, raking in nearly 20K a month (main income earner in high risk industry aka financial services)

�

too difficult to explain to them, so i just go along and agree�

i got a better plan.�

�

Start with BTO, 5 years later sell, apply another BTO. Use profits buy Commercial/Industrial property.�

�

Another 5 years later, Keep BTO, sell commercial property and buy Condo. I rather skip the EC part cos HDB provides the safest investment and guaranteed rentals.�

�

Too bad i already pass that age. So young folks under 30, start with BTO unless u got loads of cash.�

�

�

i do not think it is a good idea for most singaporeans to invest in commercial/ industrial

�

how much do they understand about the demand?

�

the policies? (especially for industrial)

�

the rules of the game?

�

better to get something they can understand like residential, since 90% of people out there are experts with a view

fully agree that developer set the price ... i don't understand why developer keep outbid each other for the land $400 $500 $600 $700psf

if land alone already cost $600-$700psf ... finish unit or course no $1100-$1200psf no sell la

�

simply put.. if current conditions remain the same... tight labour mkt, low interest rates, moderate economic growth etc.

�

prices psf will still remain no matter how long buyers try to hold out. That is because the developers are still setting the price. And they have no rush to offload (talking abt big developers)

�

Anyone hoping to see 15%, 20% or 40% discount will have to wait for a mini asia crisis.. possibly triggered from china.. as funds start to reverse back to the west, bank interest rates rise, and slowdown causing more retrenchments.

�

so look out for the signs and make the judgement call yourself�

�

this is typical sporean story

at least 3/5 colleagues go through this similar path ... in fact similar price point

�

bought HDB at 300K. Sold at 500K
upgrade to condo at 1.1m. Sold at 1.6m

upgrade to good district condo at 2.5m... sold at ??? (in future)

Edited by Wt_know, 20 January 2014 - 10:00 AM.

fully agree that developer set the price ... i don't understand why developer keep outbid each other for the land $400 $500 $600 $700psf

if land alone already cost $600-$700psf ... finish unit or course no $1100-$1200psf no sell la

�

�

this is typical sporean story

at least 3/5 colleagues go through this similar path ... in fact similar price point

�

�

�

Why so difficult to understand about developers keep outbid each other ?

There are at least 20-30 developers , gov release land for biding once in a blue moon , if the devoloper dont bid for that piece of land , no need to do business liao lor .

I think is more difficult to understand why people keep outbid each other for COEs at 3,000/= psf

assume your car is 50sq ft , and the lease is only 10yrs !

you are right ... should not blame developer - their main objective is to make money ... lots of them

developer can bid $1000 or $2000psf for the land ...

if buyer still die die buy $2000+ psf for OCR ... there is no one else to blame but buyer

�

but there is a "trick" ... when 1 developer bidded a project in an area ...

the same developer will bid sky high for the plot of land next to it or nearby

bid sky high and sell sky high ... if any buyer want to buy a unit at that area ... no choice but to pay sky high because the whole area is monopolised by the "same" developer

�

Why so difficult to understand about developers keep outbid each other ?

There are at least 20-30 developers , gov release land for biding once in a blue moon , if the devoloper dont bid for that piece of land , no need to do business liao lor .

I think is more difficult to understand why people keep outbid each other for COEs at 3,000/= psf

assume your car is 50sq ft , and the lease is only 10yrs !

�

Edited by Wt_know, 20 January 2014 - 10:43 AM.

�

Why so difficult to understand about developers keep outbid each other ?

There are at least 20-30 developers , gov release land for biding once in a blue moon , if the devoloper dont bid for that piece of land , no need to do business liao lor .

I think is more difficult to understand why people keep outbid each other for COEs at 3,000/= psf

assume your car is 50sq ft , and the lease is only 10yrs !

�

i don;t think the govt is releasing land once in a blue moon.. LOL

�

if i am a developer who is expecting prices to soften 5% to 10%, why should i outbid by paying even higher prices and risk making zero margin or even losses?

�

i might as well dont bid anything and put my money into REITs.

you are right ... should not blame developer - their main objective is to make money ... lots of them

developer can bid $1000 or $2000psf for the land ...

if buyer still die die buy $2000+ psf for OCR ... there is no one else to blame but buyer

�

but there is a "trick" ... when 1 developer bidded a project in an area ...

the same developer will bid sky high for the plot of land next to it or nearby

bid sky high and sell sky high ... if any buyer want to buy a unit at that area ... no choice but to pay sky high because the whole area is monopolised by the "same" developer

�

�

�

sky high? or do u mean sky vue? LOL

LOL ....� you know can liao ...

�

just take a look at hillview you know who is the "loa ta" developer at that area - dun play play

�

sky high? or do u mean sky vue? LOL

�

Edited by Wt_know, 20 January 2014 - 10:47 AM.

LOL ....� you know can liao ...

�

just take a look at hillview you know who is the "loa ta" developer at that area - dun play play

�

�

�

time to chart a new SG map

�

indicating which territory is owned by which clan�

�
wife's good friend..�
�
bought HDB at 300K. Sold at 500K
�
upgrade to condo at 1.1m. Sold at 1.6m
�
upgrade to good district condo at 2.5m... sold at ??? (in future)
�
of course, all these happened during the 2004 to 2013 period.
�
According to my mother in law and my wife, they are very clever. Even though debts went up from 100K to now 1m (or more?), they have "made it" in life.. no matter how the mkt crash, they will still be in the money. both couple working, raking in nearly 20K a month (main income earner in high risk industry aka financial services)
�
too difficult to explain to them, so i just go along and agree�

�
�
i do not think it is a good idea for most singaporeans to invest in commercial/ industrial
�
how much do they understand about the demand?
�
the policies? (especially for industrial)
�
the rules of the game?
�
better to get something they can understand like residential, since 90% of people out there are experts with a view

Commercial property is not rocket science. There r books in popular book store about it. Furthermore, its always good to diversify

Commercial property is not rocket science. There r books in popular book store about it. Furthermore, its always good to diversify

�

true, but few things in life are rocket science

�

i have seen many lost money in commercial. I have also done not too well.. broke even after 5 yrs holding, including rental.

�

That translate to a loss considering time value of money.

�

maybe that's due to the fact i havent read the books

simply put.. if current conditions remain the same... tight labour mkt, low interest rates, moderate economic growth etc.

�

prices psf will still remain no matter how long buyers try to hold out. That is because the developers are still setting the price. And they have no rush to offload (talking abt big developers)

�

Anyone hoping to see 15%, 20% or 40% discount will have to wait for a mini asia crisis.. possibly triggered from china.. as funds start to reverse back to the west, bank interest rates rise, and slowdown causing more retrenchments.

�

so look out for the signs and make the judgement call yourself�

�

What about holding costs?�

�

Remember there is a time limit to clear units before penalties kick in (which are 8% / 16% / 24% )�

�

Interest is also a cost

�

There is also cash flow to consider

�

And in a falling market....�

KNN lah, talk so much, buy lah! Waiting for what?
Put you money where your mouth is.

Oh,....no money is it?
Ooops....

�

true, but few things in life are rocket science

�

i have seen many lost money in commercial. I have also done not too well.. broke even after 5 yrs holding, including rental.

�

That translate to a loss considering time value of money.

�

maybe that's due to the fact i havent read the books

�

Saw a few units at alexis still empty and that's 3yrs after TOPS...although the price double/triple since launch ..i still see it as a hot potato .. see who will be holding it when the mkt drops.

mycarforum

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