I think our gahmen worries the most about keeping the MNCs here in Singapore to keep the jobs and rental market (including office space). MAS will continue to allow SGD to appreciate to curb inflation, but also making it more expensive to invest here. Electorates want EP and PR reduced, don't think that will happen - now you can see they only target those S-Pass and WP which affects the local SMEs more.
If buyers have holding power, it will be ok.
more crucially is massive job losses cos when ppl lose jobs, they can't pay off their loans without rental income. As per MAS, i think 5-10% are in the risk bracket in case lose job. The current guys who pay 50% down can easily rent cheap. So it all boils down to jobs, income and holding power.
If really crisis, will 5-10% of buyers be able to crash the market (at least 40% dip)? i think that's difficult tbh
in 97, credit was a lot more loose compared to now & i can't recall a single cooling measure then.
But back then less $ is circulating. Now more $ circulating it goes back the same theory, and lucky SG government put in a lot of cooling measures, if not it will be far worst.
I think our gahmen worries the most about keeping the MNCs here in Singapore to keep the jobs and rental market (including office space). MAS will continue to allow SGD to appreciate to curb inflation, but also making it more expensive to invest here. Electorates want EP and PR reduced, don't think that will happen - now you can see they only target those S-Pass and WP which affects the local SMEs more.
Ya, the good thing is SG government actually let SGD appreciates and not depreciates. Yes it is more expensive to invest here, but in long run if business man sees that it will be worth to invest here as they just need to tong for and set up business long here, the exchange rate will favour them.
Edited by Yewheng, 04 September 2013 - 10:37 AM.
HDB cannot crash
COE cannot crash
GDP cannot slow
SUBSIDY cannot be removed
the train is running on full steam ... anyone pull the emergency brake ... all hell break loose and many will perish
look at the world economy including US, Europe, China, India, etc - all got their own problems
Edited by Wt_know, 04 September 2013 - 10:41 AM.
How I know?? I am not time machine, I cannot turn myself to future. I only base on fundamentals of sound $, that can see it happen in future, but when it will happen and what will be the future currency to turn to, I really don't know. I have no magic wand.
u predict a crash so y not give it a try on currency too? surely the world must trade in a currency? can't be currencyless right? Good thing u know u have no magic wand. So we'll just take all predictions with a pinch of salt.
so it's gonna be better than 97...after all the hoohaBut back then less $ is circulating. Now more $ circulating it goes back the same theory, and lucky SG government put in a lot of cooling measures, if not it will be far worst.
sounds like doomsday manwe are pretty suck in the TOO BIG TO FAIL phenomenon already, aren't we?
HDB cannot crash
COE cannot crash
GDP cannot slow
SUBSIDY cannot be removed
the train is running on full steam ... anyone pull the emergency brake ... all hell break loose and many will perish
look at the world economy including US, Europe, China, India, etc - all got their own problems
u predict a crash so y not give it a try on currency too? surely the world must trade in a currency? can't be currencyless right? Good thing u know u have no magic wand. So we'll just take all predictions with a pinch of salt.
In other words you are asking him to put his money where his mouth is, right?
Hehe hehe thats one thing i hv been saying all
Not entirely impossible. Think DPRK still practice barter trade with its allies.u predict a crash so y not give it a try on currency too? surely the world must trade in a currency? can't be currencyless right? Good thing u know u have no magic wand. So we'll just take all predictions with a pinch of salt.
or chicken piak piak me back as barter trade
berry tired one...to cum 2 time in 97, credit was a lot more loose compared to now & i can't recall a single cooling measure then.
Didnt u read that our loan deposit ratio is back to 1990s high? Just as loose then. There was resales gains tax in 1996 or 98. Also back then we we didn't have a huge cheap floating debt bubble n interest rates were higher which is a "cooling measure" naturally. Now asia has yet to unwind the credit bubble....
Edited by Duckduck, 04 September 2013 - 11:07 AM.
Then how next time I want piak paik chicken use what to pay.....
or chicken piak piak me back as barter trade
we are pretty suck in the TOO BIG TO FAIL phenomenon already, aren't we?
HDB cannot crash
COE cannot crash
GDP cannot slow
SUBSIDY cannot be removed
the train is running on full steam ... anyone pull the emergency brake ... all hell break loose and many will perish
look at the world economy including US, Europe, China, India, etc - all got their own problems
no need pull emergency brake... kenna one tiny pebble on the train track can derail liao
Look at what Robert Kiyosaki said on his facebook page.
https://www.facebook...151792830396788
You cannot continue to print $85 billion every month and expect the economy to hold up.
So well, the worst is feared will be hyperinflation.
what hyperinflation ? From the beginning of QE to the end of QE now, these fear-mongers have predicted hyperinflation from time to time. Now, uncle Ben want to close shop liao, where is the hyperinflation? It is the time to stop these nonsenses.
But i do think there's a fundamental human instinct that we have. It's easier to talk about fear and convince us about fear, rather than the opposite.
Just my 2 cents worth.
Edited by Lala81, 04 September 2013 - 01:15 PM.
I think comparing Zimbabwe and US is not exactly a good idea. US is a superpower with companies much larger than even those listed on SGX. Zimbabwe has practically nothing. They are a superpower. The world practically transacts in USD.
US Debt
great article.
There are few reasons behind the hyperinflation in Zimbabwe. Money printing was obviously one of them. But they also experienced a substantial drop in their production capacity during that period of time due to wrong economy policy. from wiki
"In the late 1990s, the government instituted land reforms intended to redistribute land from white landowners to black farmers to correct the injustices of colonialism. However, many of these farmers had no experience or training in farming. From 1999 to 2009, the country experienced a sharp drop in food production and in all other sectors. The banking sector also collapsed, with farmers unable to obtain loans for capital development. Food output capacity fell 45%, manufacturing output 29% in 2005, 26% in 2006 and 28% in 2007, and unemployment rose to 80%.Life expectancy dropped."
But i do think there's a fundamental human instinct that we have. It's easier to talk about fear and convince us about fear, rather than the opposite.
Just my 2 cents worth.
but d mkts always acts d other way rd, tats y stock mkts always go up on long run. mkts climb wall of worry.
when pple have no fear n start saying a certain asset will never crash (eg. SG prop), that is when theres reason to worry.
its sentiment n fundamental mixed together
but d mkts always acts d other way rd, tats y stock mkts always go up on long run. mkts climb wall of worry.
when pple have no fear n start saying a certain asset will never crash (eg. SG prop), that is when theres reason to worry.
its sentiment n fundamental mixed together
i look at it the other way also. Why people join on the bandwagon is the fear of losing out. I won't say there is no fear on a bull run. the fear is of losing out.
lol very philosophical lah. I also don't really care.
Just have a 5 year plan and adapt accordingly.
I agree with what chucky said. Just have a plan. then put your money or take it out accordingly.
like with all fortune telling, the truth will always lie somewhere in between.
I think our gahmen worries the most about keeping the MNCs here in Singapore to keep the jobs and rental market (including office space). MAS will continue to allow SGD to appreciate to curb inflation, but also making it more expensive to invest here. Electorates want EP and PR reduced, don't think that will happen - now you can see they only target those S-Pass and WP which affects the local SMEs more.
yup they rather up GST and change CPF rules than touch corp tax. but they r jus going to b smacked on both sides of the face. jus ask ard how many backend offices of MNCs and banks have shifted to MY, PH and India. the one trick pony is dying and they are stil trying to flog it.
as for SGD and MAS, it wil only b maintained, not appreciate. they stil need to balance the export side of things. look, US has been printing USD 85b every mth and yet SGD act kept pace.
it will def fall. just a question of how much. so it's not exactly a bad time to buy property, just need to have a long term view. I know it's not cheap. But that's what ppl told me back in 2007. 2008 they laughed. then u know what happened.but d mkts always acts d other way rd, tats y stock mkts always go up on long run. mkts climb wall of worry.
when pple have no fear n start saying a certain asset will never crash (eg. SG prop), that is when theres reason to worry.
its sentiment n fundamental mixed together
it will def fall. just a question of how much. so it's not exactly a bad time to buy property, just need to have a long term view. I know it's not cheap. But that's what ppl told me back in 2007. 2008 they laughed. then u know what happened.
Ya definitely will fall, but don't know exactly how much. But don't expect slight correction as the fall will definitely be more then that.
* if printing press stop.
Edited by Yewheng, 04 September 2013 - 03:03 PM.
2.9% probably is a kiasu projection too ...
> 3%? huat ah !!! property no $1,000,000 no talk ...
Edited by Wt_know, 05 September 2013 - 08:56 AM.
singapore gdp had been revised upward again and again
2.9% probably is a kiasu projection too ...
> 3%? huat ah !!! property no $1,000,000 no talk ...
if these pple words can hear, we wil all b rich.
singapore gdp had been revised upward again and again
2.9% probably is a kiasu projection too ...
> 3%? huat ah !!! property no $1,000,000 no talk ...
Doesn't mean that. The country's GDP is growing because we're all working our asses off. That doesn't necessarily mean we will all go out n buy new homes.
Say u strike Toto tomorrow, confirm u will go buy sharksfin and Rolex meh? Cannot be lobster and Patek ah?
Doesn't mean that. The country's GDP is growing because we're all working our asses off. That doesn't necessarily mean we will all go out n buy new homes.
Say u strike Toto tomorrow, confirm u will go buy sharksfin and Rolex meh? Cannot be lobster and Patek ah?
No matter what.. property is still maintaining the current price.. no 1 million no talk. Dont see much of any downtrends in the pricing. Only when there is a finanical crisis, the pricing will be adjusted else... as long as the private condos are still moving and the demands are there... wait long long
No matter what.. property is still maintaining the current price.. no 1 million no talk. Dont see much of any downtrends in the pricing. Only when there is a finanical crisis, the pricing will be adjusted else... as long as the private condos are still moving and the demands are there... wait long long
haven't becos interest rate stil low. u wil see when int rates increase, the investment type landlords wil cash out when they see real rental returns is but only 2%.
haven't becos interest rate stil low. u wil see when int rates increase, the investment type landlords wil cash out when they see real rental returns is but only 2%.
As long as ABSD and SSD is there, landlords will rather take 2% yield than pay the gahmen 10% ABSD or 4-16% SSD. Limited existing stock release to the mkt = low supply = high price.
no wonder these organisations can thrive, sibei gullible.
Every red flag is flashing and staring in their faces, and they still cannot wake up.
Young impressionable weak teenagers, i can still understand.
Oh well.
Buy if in need and to your true financial capability.
what hyperinflation ? From the beginning of QE to the end of QE now, these fear-mongers have predicted hyperinflation from time to time. Now, uncle Ben want to close shop liao, where is the hyperinflation? It is the time to stop these nonsenses.
USD still have not experiencing hyperinflation is because the world is tanking USD as reserve currency. Wait till the big players realise that they will be better off without USD and start switch off the tap and you will see how bad USD is going to depreciate against world currency. So those who still have mindset of USD will recover can forget it as it will never happen.
Edited by Yewheng, 05 September 2013 - 12:04 PM.
USD still have not experiencing hyperinflation is because the world is tanking USD as reserve currency. Wait till the big players realise that they will be better off without USD and start switch off the tap and you will see how bad USD is going to depreciate against world currency. So those who still have mindset of USD will recover can forget it as it will never happen.
Hyperinflation?
Economic slowdown, yes. Recession, maybe yes. But hyperinflation?!
Hyperinflation?
Economic slowdown, yes. Recession, maybe yes. But hyperinflation?!
I mean USD, not world currencies. Possible, why not?
I mean look at how much USD has been printed, when if big brothers pull out from USD, what do you guys think will happen to USD then?
Edited by Yewheng, 05 September 2013 - 02:31 PM.
USD still have not experiencing hyperinflation is because the world is tanking USD as reserve currency. Wait till the big players realise that they will be better off without USD and start switch off the tap and you will see how bad USD is going to depreciate against world currency. So those who still have mindset of USD will recover can forget it as it will never happen.
Iraq priced oil in Euros in 2000, 2003 kenna whacked
BRICs wants to displaced USD in 2009 with Euros, Euro debt crisis broke out
Now BRICs kenna liquidity squeeze
Edited by Goldbug, 05 September 2013 - 02:51 PM.
USD still have not experiencing hyperinflation is because the world is tanking USD as reserve currency. Wait till the big players realise that they will be better off without USD and start switch off the tap and you will see how bad USD is going to depreciate against world currency. So those who still have mindset of USD will recover can forget it as it will never happen.
don't be too pessimistic on US and USD
with lower energy costs, investments are flowing back
and exports more competitive
don't be too pessimistic on US and USD
with lower energy costs, investments are flowing back
and exports more competitive
You see lor, the rate of currency printing sooner or later those big brothers will realise they will be better off without USD that export inflation to the whole world.
You see lor, the rate of currency printing sooner or later those big brothers will realise they will be better off without USD that export inflation to the whole world.
hmmm...do you know the meaning of 'hyperinflation'?
The Skywoods ($1200 psf) and Thomson Three ($1350-$1400 psf)
no $1000psf no talk ... dont play play
Edited by Wt_know, 05 September 2013 - 10:22 PM.
i heard HK can hit 10k psfjust saw the news reported 7th month over liao ... this weekend got new condo project launch
The Skywoods ($1200 psf) and Thomson Three ($1350-$1400 psf)
no $1000psf no talk ... dont play play
Actually, the fact there are still ignorant people (denying the risk) means the bubble is very well alive. We need more people to think there isn't a bubble when there actually is for the bubble to sustain. These people form the thin outer layer of the bubble.
Edited by Pmet, 05 September 2013 - 11:07 PM.
i heard HK can hit 10k psf
heard in the news Yishun Ave 2 plot size about $1077 psfjust saw the news reported 7th month over liao ... this weekend got new condo project launch
The Skywoods ($1200 psf) and Thomson Three ($1350-$1400 psf)
no $1000psf no talk ... dont play play
http://news.asiaone....bid-143-billion
The winning bid was from North Gem Development and FC North Gem Trustee, units of Frasers Centrepoint. It translates into a price of $1,077 per sq ft (psf) per plot ratio (ppr) and beat four other offers, also from prominent property players here.
The Housing & Development Board (HDB), as the Government�s land sales agent,launched the land parcel at Yishun Avenue 2 / Yishun Central 1 for tender on 28 Jun 2013.
The details of the sale site are as follows:
Proposed Development: Mixed Commercial & Residential Development Integrated with Bus Interchange & Community Club?
Site Area: 41,084.9sqm
Maximum GFA [GPR]: 123,254.7sqm [3.0]?
Maximum Building Height: 56m AMSL
Estimated Dwelling Units: 890
Lease term: 99 years The tender closed at 12 noon today with 5 bids received. The details of the provisional tender results are below. A decision on the award of the tender will be made after the bids have been evaluated. This will be announced at a later date.
siao liaooooo
Edited by Thaiyotakamli, 05 September 2013 - 11:31 PM.
hk cbd area? sg about 7k le, so HK should be more than thati heard HK can hit 10k psf
just saw the news reported 7th month over liao ... this weekend got new condo project launch
The Skywoods ($1200 psf) and Thomson Three ($1350-$1400 psf)
no $1000psf no talk ... dont play play
heard in the news Yishun Ave 2 plot size about $1077 psf
http://news.asiaone....bid-143-billion
The winning bid was from North Gem Development and FC North Gem Trustee, units of Frasers Centrepoint. It translates into a price of $1,077 per sq ft (psf) per plot ratio (ppr) and beat four other offers, also from prominent property players here.
The Housing & Development Board (HDB), as the Government?s land sales agent,launched the land parcel at Yishun Avenue 2 / Yishun Central 1 for tender on 28 Jun 2013.
The details of the sale site are as follows:
Proposed Development: Mixed Commercial & Residential Development Integrated with Bus Interchange & Community Club?
Site Area: 41,084.9sqm
Maximum GFA [GPR]: 123,254.7sqm [3.0]?
Maximum Building Height: 56m AMSL
Estimated Dwelling Units: 890
Lease term: 99 years The tender closed at 12 noon today with 5 bids received. The details of the provisional tender results are below. A decision on the award of the tender will be made after the bids have been evaluated. This will be announced at a later date.
siao liaooooo
I do not know, got a feeling they may make a big loss, if economy turns bad in 1 to 2 years down the road. Good luck to them man..
Edited by Yewheng, 05 September 2013 - 11:41 PM.
2nd highest bidder only 900m plus, they bid 1.43 billion, almost doubled, are they nuts? this developer thought this plot is in bishanI do not know, got a feeling they may make a big loss, if economy turns bad in 1 to 2 years down the road. Good luck to them man..
2nd highest bidder only 900m plus, they bid 1.43 billion, almost doubled, are they nuts? this developer thought this plot is in bishan
All I can say is good luck lor..
2nd highest bidder only 900m plus, they bid 1.43 billion, almost doubled, are they nuts? this developer thought this plot is in bishan
Fraser Centrepoint not small time developer lah.
6.9m by 2030: still got more than a million people coming to our shores.
Our very ambitious 3 new mega-townships will only yield 40k units.
More than a million people coming.... 40k units. How can?
Can see or not? Undersupply lah!
Demand high, supply low = price high high high high high high
Plus Khaw oredi said supply is to taper...
Good luck folks!
I wish I got money to buy
I want to pay full in cash i know they big, but its yishun le, not jurong, changi or any high potential.Fraser Centrepoint not small time developer lah.
6.9m by 2030: still got more than a million people coming to our shores.
Our very ambitious 3 new mega-townships will only yield 40k units.
More than a million people coming.... 40k units. How can?
Can see or not? Undersupply lah!
Demand high, supply low = price high high high high high high
Plus Khaw oredi said supply is to taper...
Good luck folks!
I wish I got money to buy
some more Yishun land is one of the lowest in sg and their bid difference like 500m plus with 2nd highest
maybe Khaw told them new township will be yishun??
and regarding the last statement, sell ur GCB la
Unless this chart is inflation adjusted to compare dollar for dollar in real terms.
It can look scary.
1997 to 2013 is about 15yrs.
You will need to adjust that by a conservative 30-40%
In other words we are no any better in real terms 97 to current.
Coupled with a much bigger loan book, doesnt look fabulous
Anyway I dont care about which analyst say what.
I am currently zero debt, ready cash and liquid securities.
I am kiasee, prefer not to be the last one standing.
Sky-drop-use-as-blanket
Good luck folks!
You should take this opportunity to sell your landed lah bro.
Idiots are now paying crazy stupid money for non-prime location landed properties. Properties that were unwanted and ignored by the market during saner times. Last time those opera estate, upper Thomson properties nobody even wanted to buy. Today, $4m plus for a semi-d that is in original condition in those areas. Siao boh?
So place your bets, sell your house. When market crashes you can buy a bungalow in D10 with the same money. If it crashes.
i know they big, but its yishun le, not jurong, changi or any high potential.
some more Yishun land is one of the lowest in sg and their bid difference like 500m plus with 2nd highest
maybe Khaw told them new township will be yishun??
and regarding the last statement, sell ur GCB la
Simi GCB? Golden CB ah?
Brother when that place becomes "high potential" it is too expensive to buy liao lah.
You think maybe Khaw told them? Wah that's CPIB case liao lor... Can go prison and commit suicide one leh... Dun pray pray
so they predicting Yishun will huat huat next few years, like what Yewheng bro said, good luck to them...Simi GCB? Golden CB ah?
Brother when that place becomes "high potential" it is too expensive to buy liao lah.
You think maybe Khaw told them? Wah that's CPIB case liao lor... Can go prison and commit suicide one leh... Dun pray pray
so they predicting Yishun will huat huat next few years, like what Yewheng bro said, good luck to them...
I do not know, but next few years economy really very uncertain and those developer that still bid very high is very brave, as a bad economy, they straight make a big loss one.
Edited by Yewheng, 06 September 2013 - 12:14 AM.
I do not know, but next few years economy really very uncertain and those developer that still bid very high is very brave, as a bad economy, they straight make a big loss one.
I don't think it's a matter of brave or scared.
A deal like this, they must have done their analysis thoroughly and helped by massive injection of funds.
F & N were just acquired by Charoen and he is planning to list Fraser Centrepoint separately.
not much chance to think like that. Banks ask for 50% down so want to take risk also cannot.Property bubble now printing everywhere, it just needs a sharp catalyst to pop. But on the flip side, the bigger it grows, the louder the "pop". Errrrr... I meant BOOM!
Actually, the fact there are still ignorant people (denying the risk) means the bubble is very well alive. We need more people to think there isn't a bubble when there actually is for the bubble to sustain. These people form the thin outer layer of the bubble.
Your view is more relevant to the US subprime where anyone can get full loan.
I do not know, but next few years economy really very uncertain and those developer that still bid very high is very brave, as a bad economy, they straight make a big loss one.
Developers have holding power. Investment need bravery.
spore is not comparable with hk/shanghai/beijing leh
y not? densely populated, island city...LKS believes in buying properties on cities surrounded by water.
u don't acquire, your competitor does. Your competitor becomes richer when the market picks up.I don't think it's a matter of brave or scared.
A deal like this, they must have done their analysis thoroughly and helped by massive injection of funds.
F & N were just acquired by Charoen and he is planning to list Fraser Centrepoint separately.
To me, it's a down market now cos few can afford 50% down. thats y property transactions plunge.
Some places just don't know what is cheap. Look at Euro crisis. Is Monte Carlo cheap?
All i can say for certain is income gap gets wider. SG is a place for the rich. The middle class find they cannot afford these properties. It's a harsh reality.
not much chance to think like that. Banks ask for 50% down so want to take risk also cannot.
Your view is more relevant to the US subprime where anyone can get full loan.
50% loan only started few months ago. Think about the buildup over 8 years and you will get the picture.
Developers have holding power. Investment need bravery.
Thought government make changes that developers can only hold a period of x numbers of years ( is it 3 years? forget how long ) and no more then that. So unless government go change that when economy turn bad, it does not make sense to bid so high now in my opinion.
Can really feel the critical moment Liao
Those on reports selling at 0 cov must have read this, I read Liao also sb scary
Can really feel the critical moment Liao
Now the only thing that prevent market crash is the QE. Once QE stops, the music comes to an end. Will QE aka printing press continue? How long can it last before big brother realise that USA is a liability that only export inflation ?? Both ways it will just affect the economy, but the letter is more dangerous as by then don't know how much more $ has printed and will impact even more jia lat.
Edited by Yewheng, 06 September 2013 - 04:58 AM.
Now the only thing that prevent market crash is the QE. Once QE stops, the music comes to an end. Will QE aka printing press continue? How long can it last before big brother realise that USA is a liability that only export inflation ?? Both ways it will just affect the economy, but the letter is more dangerous as by then don't know how much more $ has printed and will impact even more jia lat.
So now cash is king? Savings over spendings.....
If it's to come, it wun go away
We jus got to face it bravely
So now cash is king? Savings over spendings.....
If it's to come, it wun go away
We jus got to face it bravely
Must also hold the right currency lol. SGD should be relatively safe. Ya savings over spending is more prudent, back to basic is good.
And that is the reason why there is minority of people keep saying buy gold and silver now as it will continue to rise due to cheap monetary policy. As history has shown that gold is a good hedge against inflation.
Edited by Yewheng, 06 September 2013 - 05:17 AM.
us debt ceiling ... come and go
greece default ... come and go
cyprus declare bankrupt ... come and go
spain and italy ... super high unemployment rate ... come and go
look at the japanese economy ... isn't it stagnant for the past 15 years (at least?) ... life goes on and living cost continue to rise
singapore cooling measure ... one after another ... psf break record one after another
what's next?
us debt ceiling to be raised again - Oct
greece 3rd bailout package - Nov
another round of "medicine" to be given for the sick patient ....
Edited by Wt_know, 06 September 2013 - 07:52 AM.
Bro of cse keep sgd la, ha haMust also hold the right currency lol. SGD should be relatively safe. Ya savings over spending is more prudent, back to basic is good.
And that is the reason why there is minority of people keep saying buy gold and silver now as it will continue to rise due to cheap monetary policy. As history has shown that gold is a good hedge against inflation.
My mil n fil saw rm at 250, go change n keep slowly use
Knn I thinking Ho say Bo
Now 257 Liao they say ai yo
I tell them 300 I oso change 100 sgd to use nia
Duno become leaves anot man
I'm not a risk taker btw ha ha
An Feng shou ji better for me
Huh? Not now crash ar? Still have to wait 5 yrs ar?
Ok ok too early, I can go back slp soundly Liao
crash crash crash .... since Sep 2008 (Lehman collapse) till now 5 years liao ... another 5 years to go to see is there a crash?
us debt ceiling ... come and go
greece default ... come and go
cyprus declare bankrupt ... come and go
spain and italy ... super high unemployment rate ... come and go
look at the japanese economy ... isn't it stagnant for the past 15 years (at least?) ... life goes on and living cost continue to rise
singapore cooling measure ... one after another ... psf break record one after another
what's next?
us debt ceiling to be raised again - Oct
greece 3rd bailout package - Nov
another round of "medicine" to be given for the sick patient ....
Huh? Not now crash ar? Still have to wait 5 yrs ar?
Ok ok too early, I can go back slp soundly Liao
Another 5 years??? Wait till coming Oct see how Obama will say about to raise debt ceiling again, if not it would be economic armageddon. The thing is what will SG government do when debt ceiling is raised again? I mean hope sg government will realise that the printing press brings higher inflation then what they can imagine and not put in ikan bilis measure, as it will not work well and should put in even more fierce measure. More fierce measure although is painful for people to shallow, but when economic crisis hit, the impact will not that big as inflow of $ to SG is limited. So limit inflow of printed $ to sg will be the best solution to tide over this period.
So it is actually good news if debt ceiling is raised again and SG government still managed to reduce property price and not let it increase, as learn to fall down now is better then don't know where one is going and fall down over the cliff further ahead.
But the opposite will be if debt ceiling is raised again and SG government do not put in more fierce measures or find that the current measures is enough or even relax the ruilings and let property price continue to rise, can you guys imagine when economic crisis hit 1 to 2 years down the road, it will be far worst then one can imagine lor.
Edited by Yewheng, 06 September 2013 - 08:47 AM.
So now cash is king? Savings over spendings.....
If it's to come, it wun go away
We jus got to face it bravely
Keep cash and wait for crash to come? We are assuming Sing dollar won't de-value.
As long as ABSD and SSD is there, landlords will rather take 2% yield than pay the gahmen 10% ABSD or 4-16% SSD. Limited existing stock release to the mkt = low supply = high price.
all boils down to holding power. if no tenant for months or hv to start topping up monthly, those holding multiple ppty wil start to let go 1 -2. the other thing is when int rate increases, u put ur money in FD u prob can also get 2%pa. why stil need to bother w pesky agents, tenants haha
the other thing I shared before URA data shows 100k completed units to hit market until 2016. this is excl BTO and new HDB. supply is def there. in the booming 09-12 years, sg can stil attract FT cos companies willing to pay. but now, its really quite different now. im looking to buy a ppty but im def not going in now.
but so many people bought property at historic high prices, bubble burst will bring alot of hardship to singaporean families
who asked those smart ass to buy so high price?
alesio rastani advocate buy during crash when economy is not doing good ... stock market crash ... property market crash ... a $1M property can be bought at $400k-$500k
tv host argue when economy is in dire state ... who dare to spend $500K and most people already worrying about their job and how to put food on the table
when economy is high ... everyone is feeling high and many bought property at the PEAK because the "future" looks awesome ... typical cycle
but so many people bought property at historic high prices, bubble burst will bring alot of hardship to singaporean families
Edited by Wt_know, 06 September 2013 - 09:56 AM.
You should take this opportunity to sell your landed lah bro.
Idiots are now paying crazy stupid money for non-prime location landed properties. Properties that were unwanted and ignored by the market during saner times. Last time those opera estate, upper Thomson properties nobody even wanted to buy. Today, $4m plus for a semi-d that is in original condition in those areas. Siao boh?
So place your bets, sell your house. When market crashes you can buy a bungalow in D10 with the same money. If it crashes.
Yes very siao prices and very tempting to sell.
But as you know me, i dont play with my primary residence.
The location is really tip top (imo) with a great view.
And now my eldest is getting into a school nearby next year.
Moreover its fully paid and i have enough cash to buy another.
I have already made my move as you know, by selling my D9 condo two months ago.
With all these things happening, it really pushes middle class Singaporeans like me to consider "quitting" the country. Who knows , maybe i really will.
Must also hold the right currency lol. SGD should be relatively safe. Ya savings over spending is more prudent, back to basic is good.
And that is the reason why there is minority of people keep saying buy gold and silver now as it will continue to rise due to cheap monetary policy. As history has shown that gold is a good hedge against inflation.
Gold in itself, no point.
Gold Rolexes, now thats different.
but seriously in another 10 - 20 yrs, tat wil become a reality and this is wat MIW should seriously watch out for.
they can continue to import cheap immigrants, discreet coerce them into converting citizens. but the core citizen is wat tat matters - the very social fabric of Singapore. and dun forget, as many as 30% of total renounced citizens are these 'new citizens' who are jus using sg as stepping stone, temporary stop gap to the gahmen's policies.
I remember for some 5 room hdb in mature estate, they weresold for 380k in 1997, after AFC, can get at 260k onwards. From 1999-2005, price is 310-360, after 2009 onwards it's 420-550k.. thats for eunos bedok.It's possible, why not?? Look at year 1997 history, where HDB prices selling at 700+k before the crash, and when it crash, how much drop is the HDB prices ?? And by looking at in context of property price now, some HDB house sells at slightly more than 1million, a drop in 50% to 500k when crash is very possible.
Yes very siao prices and very tempting to sell.
But as you know me, i dont play with my primary residence.
The location is really tip top (imo) with a great view.
And now my eldest is getting into a school nearby next year.
Moreover its fully paid and i have enough cash to buy another.
I have already made my move as you know, by selling my D9 condo two months ago.
With all these things happening, it really pushes middle class Singaporeans like me to consider "quitting" the country. Who knows , maybe i really will.
And that's why the govt is not stopping the import of white collar PMETs and encouraging them to become PR and citizens, instead they are stepping up the import. Because they know that the current local middle class WILL quit working and quit the country one day.
deep inside, everyone wants to quit but wil keep pushing off due to kids education, parents.
but seriously in another 10 - 20 yrs, tat wil become a reality and this is wat MIW should seriously watch out for.
they can continue to import cheap immigrants, discreet coerce them into converting citizens. but the core citizen is wat tat matters - the very social fabric of Singapore. and dun forget, as many as 30% of total renounced citizens are these 'new citizens' who are jus using sg as stepping stone, temporary stop gap to the gahmen's policies.
They are tapering import of cheap FTs but have they stopped import of middle class PMETs? You know the answer. Why haven't they? Because they are hoping this group of FTs will replace the Singaporean PMET middle class who will eventually cannot take it and quit.
Edited by Viceroymenthol, 06 September 2013 - 11:19 AM.
deep inside, everyone wants to quit but wil keep pushing off due to kids education, parents.
but seriously in another 10 - 20 yrs, tat wil become a reality and this is wat MIW should seriously watch out for.
they can continue to import cheap immigrants, discreet coerce them into converting citizens. but the core citizen is wat tat matters - the very social fabric of Singapore. and dun forget, as many as 30% of total renounced citizens are these 'new citizens' who are jus using sg as stepping stone, temporary stop gap to the gahmen's policies.
Yes it is... Many of my friends around me are moving out of Singapore already. Some found working oppt to go overseas while others.. hahaa... married a foreign wife and moved over with them.
Only pple like me stuck in SG and waiting for MIW to bleed me to death slowly...
Sidetrack. I just checked with my agent friends...Now property demand really slow down. My friends got time to take off on a weekday somemore.. usually agents are busy. Also confirmed that during the peak, rental for a condo can be 1.2 to 1.3 per room.. but now.. 950 also no takers... All say can eat grass liao...
Good news for buyers but bad for sellers. Imagine when the interest rate hikes... many will jump down
Personally I feel Singapore is "peakish" at the moment in terms of currency strength and the economy. Thus those who have the resources at this point in time are really in a very good position and have a wide range of options available.
Yes very siao prices and very tempting to sell.
But as you know me, i dont play with my primary residence.
The location is really tip top (imo) with a great view.
And now my eldest is getting into a school nearby next year.
Moreover its fully paid and i have enough cash to buy another.
I have already made my move as you know, by selling my D9 condo two months ago.
With all these things happening, it really pushes middle class Singaporeans like me to consider "quitting" the country. Who knows , maybe i really will.
Edited by OmOm, 06 September 2013 - 11:28 AM.
why u no open rolex shop??!Gold in itself, no point.
Gold Rolexes, now thats different.
Think australia should be a good place for retirement since the FD interest so high there, just bank in the money and cruise along the coastal road with a new 911Hi bro, which country would be a likely destination should you one day decide to "quit" Singapore?
Personally I feel Singapore is "peakish" at the moment in terms of currency strength and the economy. Thus those who have the resources at this point in time are really in a very good position and have a wide range of options available.
why u no open rolex shop??!
Why not i also open cigar shop to compliment and also sportscar accessories shop for that matter....
Muayhahah
With the advent of technology, perhaps one day the concept of a global citizen may very well come true: homes in multiple countries and a career that does not really require one to be fixed in a single location the whole year round.
Think australia should be a good place for retirement since the FD interest so high there, just bank in the money and cruise along the coastal road with a new 911
They are tapering import of cheap FTs but have they stopped import of middle class PMETs? You know the answer. Why haven't they? Because they are hoping this group of FTs will replace the Singaporean PMET middle class who will eventually cannot take it and quit.
my co now is in the midst of hiring an indo on EP terms. now its stil processing so lets see if its stil easy.
but the main thing now is companies are on bearish mode themselves. in the past they dare splash on attractive expat packages so these FTs come, work and rent aptm but now, its quite diff.
as for the average Singapore PMET as long as below 45yo I thk stil easily employable. but above 45yo I thk the reality is not really very bright. talking mainly average ones.
Hi bro, which country would be a likely destination should you one day decide to "quit" Singapore?
Personally I feel Singapore is "peakish" at the moment in terms of currency strength and the economy. Thus those who have the resources at this point in time are really in a very good position and have a wide range of options available.
Hi dude, i really really dont know yet, honestly.
Really like Hawaii main island.
A very decent 5000sft landed house fronting the Pacific Ocean can be had for usd1.5mil
Just 30 mins drive from Honolulu and Waikiki.
I have been there a couple of times over the last 25yrs and the vibes are great.
Not the cheapest place, however i like it as it is pretty efficient yet easy going.
Even if i do it, it will only be a holiday home.
My heart is still here as it is.
Yes, Australia is surely on the list of many who are considering emigration.
With the advent of technology, perhaps one day the concept of a global citizen may very well come true: homes in multiple countries and a career that does not really require one to be fixed in a single location the whole year round.
Australia is ok i guess.
But its far from everywhere else.
Must also hold the right currency lol. SGD should be relatively safe. Ya savings over spending is more prudent, back to basic is good.
And that is the reason why there is minority of people keep saying buy gold and silver now as it will continue to rise due to cheap monetary policy. As history has shown that gold is a good hedge against inflation.
Hopefully SGD will be synonymous with "as good as gold".
But strength and stability of SGD depends on many things, most importantly our GDP.
And GDP depends on so many factors: human resource, economic stimulation (construction), etc
So I hope that people will stop trying to prevent the Govt from doing what it needs to do to keep SGD strong.
The govt does many things in the interest of the stability of the currency and the national economy. We as layman and not in the inner circle are not privy to it, and we should just shut up and let them do their thing.
Yes it is... Many of my friends around me are moving out of Singapore already. Some found working oppt to go overseas while others.. hahaa... married a foreign wife and moved over with them.
Only pple like me stuck in SG and waiting for MIW to bleed me to death slowly...
Sidetrack. I just checked with my agent friends...Now property demand really slow down. My friends got time to take off on a weekday somemore.. usually agents are busy. Also confirmed that during the peak, rental for a condo can be 1.2 to 1.3 per room.. but now.. 950 also no takers... All say can eat grass liao...
Good news for buyers but bad for sellers. Imagine when the interest rate hikes... many will jump down
I thk 2 reasons. one is the world is so mobile now and the nearby cities hv caught up much. cmon, I thk the old towns like bedok, tampines has become old compared to the new asean cities on offer now. 2ndly the strong SGD and strong "HDB asset program" plus the moving goalposts of CPF could jus sway the borderliners to quit and retire elsewhere.
the diehards and the wealthy will cont to b here. the wealthy values the security here much more than anything. as for diehards, erm this group no reason needed one la..
Think australia should be a good place for retirement since the FD interest so high there, just bank in the money and cruise along the coastal road with a new 911
Australia is a good place to retire, but not for much else.
It is an economy entirely backed by the export of natural resources to China.
How risky is that.
Hi dude, i really really dont know yet, honestly.
Really like Hawaii main island.
A very decent 5000sft landed house fronting the Pacific Ocean can be had for usd1.5mil
Just 30 mins drive from Honolulu and Waikiki.
I have been there a couple of times over the last 25yrs and the vibes are great.
Not the cheapest place, however i like it as it is pretty efficient yet easy going.
Even if i do it, it will only be a holiday home.
My heart is still here as it is.
Yep USA would be a good destination.
my co now is in the midst of hiring an indo on EP terms. now its stil processing so lets see if its stil easy.
but the main thing now is companies are on bearish mode themselves. in the past they dare splash on attractive expat packages so these FTs come, work and rent aptm but now, its quite diff.
as for the average Singapore PMET as long as below 45yo I thk stil easily employable. but above 45yo I thk the reality is not really very bright. talking mainly average ones.
45 years old? No lah.
If by 35, you see that you're not going anywhere, better quit liao and do something else.
Singapore is great to run your business from. With the advanced communications available today, remote direction of your operations team is no longer an issue.
Hi dude, i really really dont know yet, honestly.
Really like Hawaii main island.
A very decent 5000sft landed house fronting the Pacific Ocean can be had for usd1.5mil
Just 30 mins drive from Honolulu and Waikiki.
I have been there a couple of times over the last 25yrs and the vibes are great.
Not the cheapest place, however i like it as it is pretty efficient yet easy going.
Even if i do it, it will only be a holiday home.
My heart is still here as it is.
I thk 2 reasons. one is the world is so mobile now and the nearby cities hv caught up much. cmon, I thk the old towns like bedok, tampines has become old compared to the new asean cities on offer now. 2ndly the strong SGD and strong "HDB asset program" plus the moving goalposts of CPF could jus sway the borderliners to quit and retire elsewhere.
the diehards and the wealthy will cont to b here. the wealthy values the security here much more than anything. as for diehards, erm this group no reason needed one la..
This group also values security and the fact that Singapore is more efficient than many other places on earth.
The so-called "brain drain" has been happening since the '90s. That's when Goh issued a warning to be stayers and not quitters. We Singaporeans did not heed his words, continued to migrate in droves, and that's why they have started to take action by importing "talents". You can't blame them.
Now that inflation is somewhat kept in check, MAS should be able to weaken the SGD progressively without knocking inflation sky-high.
Hopefully SGD will be synonymous with "as good as gold".
But strength and stability of SGD depends on many things, most importantly our GDP.
And GDP depends on so many factors: human resource, economic stimulation (construction), etc
So I hope that people will stop trying to prevent the Govt from doing what it needs to do to keep SGD strong.
The govt does many things in the interest of the stability of the currency and the national economy. We as layman and not in the inner circle are not privy to it, and we should just shut up and let them do their thing.
45 years old? No lah.
If by 35, you see that you're not going anywhere, better quit liao and do something else.
Wah like by 35 still not going anywhere... i guess many singaporeans will have to quit their jobs and switch careers... bro, not many pple like bros in MCF so rich leh... Can relax one corner and yet $$ still goes into the bank accounts.
I guess.. for those 45 and still have problems should already make plans of settling in other countries.. cheaper housing, simpler lifestyle..
If I have the chance to choose.. I rather dump the pink IC and get the blue IC.. same benenfits. Its a joke that we really treated like a outclass when we are truly born in SG.. Joke
MAS has been extremely concerned about high inflation as that limits their arsenal of weapons to boost the economy. These concerns, coupled with those on the bubbly state of asset prices, had given rise to the cooling measures for both properties and cars.
Now that inflation is somewhat kept in check, MAS should be able to weaken the SGD progressively without knocking inflation sky-high.
Yes weakening the SGD will make Singapore more competitive in trade. While at the same time causing inflation.
That aside.
Our govt's concern about SGD strength is paramount. They will try to balance SGD and competitiveness, without losing the attractiveness of SGD.
You are forgetting that we are no more a cheap manufacturing exporter.
We are a banking and financial centre now. We export financial services and import cold hard cash and make money for our stakeholders/clients in a strong currency. A strong SGD is in our interests. Why do you think the CHF has remained (somewhat) independent?
Edited by Viceroymenthol, 06 September 2013 - 12:12 PM.
This group also values security and the fact that Singapore is more efficient than many other places on earth.
The so-called "brain drain" has been happening since the '90s. That's when Goh issued a warning to be stayers and not quitters. We Singaporeans did not heed his words, continued to migrate in droves, and that's why they have started to take action by importing "talents". You can't blame them.
Bro, Singapore is not the only city that experience brain drains.. looking at other developed countries, they have done so much better than what we have done. We cant stop pple from leaving but we can persuade pple to stay.
The only problem is .. Our governement is not doing enough to make pple feel that we are part of the nation. Their only reason.. GDP. High GDP overwrites everything until in the recent yrs. .they start to wake up after losing popular supports and bad ratings in the recent elections..
Bro ..u so supportive of MIW.. u local or worknig in government. hahah
Bro, Singapore is not the only city that experience brain drains.. looking at other developed countries, they have done so much better than what we have done. We cant stop pple from leaving but we can persuade pple to stay.
The only problem is .. Our governement is not doing enough to make pple feel that we are part of the nation. Their only reason.. GDP. High GDP overwrites everything until in the recent yrs. .they start to wake up after losing popular supports and bad ratings in the recent elections..
Bro ..u so supportive of MIW.. u local or worknig in government. hahah
Persuade the ever-demanding Singaporeans to stay?
How?
It is not possible to allow everybody ownership of a high floor apartment with a sea view in a mature estate, nor is it possible to allow everyone to own a car. It is also not possible to give everybody's kids a place in an elite school.
So tell me lah, how? How to satisfy Singaporeans?
Persuade the ever-demanding Singaporeans to stay?
How?
It is not possible to allow everybody ownership of a high floor apartment with a sea view in a mature estate, nor is it possible to allow everyone to own a car. It is also not possible to give everybody's kids a place in an elite school.
So tell me lah, how? How to satisfy Singaporeans?
True true..everyone have demands.. I am just stating that MIW should have a clearer guidelines over PR and Locals.. My circle of friends are leaving not because of sea view apartment OR not able to own GCB.... They are more disappointed with expectations that our government have over the locals...
No money.. just work till 75 even as cleaner.. also gd. They forget when u are 75.. u must say thank you to the gods if someone even want to hire u.. not everyone so lucky as MIW.. just sit and go swimming in morning.
Give free transport for rides in MRT or Buses... still need to see timing and also not applicable in all stations somemore. Look at China or Taiwan, the elderly above 60 GOT free rides..
Medical subsidies.. not much diff as the PR until recently ... Lasttime.. everyone is joking abt how well our government is treating the PR than the locals.
Sick... no problem.. go stay and get well in JB loh.. CPF allows deductions there.
No job Oppt... blames yourself cause u dont bother to upgrade or expect high salary.. Our government forget that our salary had not increased over the last 10 yrs as compared to inflation..
Maybe u different lah... U rich and u dont see how the poor lives in Singapore.. .. I different.. I see how the poor is like cause I am being poor too . I floor cleaner only
Edited by Apvman, 06 September 2013 - 12:35 PM.
Hopefully SGD will be synonymous with "as good as gold".
But strength and stability of SGD depends on many things, most importantly our GDP.
And GDP depends on so many factors: human resource, economic stimulation (construction), etc
So I hope that people will stop trying to prevent the Govt from doing what it needs to do to keep SGD strong.
The govt does many things in the interest of the stability of the currency and the national economy. We as layman and not in the inner circle are not privy to it, and we should just shut up and let them do their thing.
The truth is most people can't see beyond their daily lives.
Many people think that Rome was built in a day.
however, how many can buy when economy is going downhill and property is crashing ... that's the big question
i'm sure many have heard of the latest JB property so called Danga Bay
i have a couple friends already flocked to Danga Bay and said how cheap is RM$800k-RM$1M for a seaview condo (ie: RM$1M = < SGD$400K)
in spore ABSD alone probably cost > SGD$100K
buy and left it empty also good if no tenant (ie: wait for capital appreciation)
I remember for some 5 room hdb in mature estate, they weresold for 380k in 1997, after AFC, can get at 260k onwards. From 1999-2005, price is 310-360, after 2009 onwards it's 420-550k.. thats for eunos bedok.
Edited by Wt_know, 06 September 2013 - 01:08 PM.
50% loan only started few months ago. Think about the buildup over 8 years and you will get the picture.
prices started peaking significantly only from 2010. so it's not exactly 8 years of build up, prob 3-4. As MAS said, 5-10% are at risk and i suspect, they have at least 2 loans worth at least 70% of what's borrowed. 5-10% is perhaps not enough to crash the market in a crisis.
Thought government make changes that developers can only hold a period of x numbers of years ( is it 3 years? forget how long ) and no more then that. So unless government go change that when economy turn bad, it does not make sense to bid so high now in my opinion.
iirc, they can hold for as long as they want but theres some penalty involved. not sure if need to be 100% sold too.
Those on reports selling at 0 cov must have read this, I read Liao also sb scary
Can really feel the critical moment Liao
there are various reasons y HDB dwellers want to sell at $0 COV. Maybe some already bought their next home & die die must sell. Do note HDB transactions are not always reflective of economy. It's a need and the reasons can be so varied. The private market would be more representative if we have massive transactions selling at much lower prices. But as employment rate is high, that's unlikely to happen.
this is the same argument that many tv host debate with alesio rastani
alesio rastani advocate buy during crash when economy is not doing good ... stock market crash ... property market crash ... a $1M property can be bought at $400k-$500k
tv host argue when economy is in dire state ... who dare to spend $500K and most people already worrying about their job and how to put food on the table
when economy is high ... everyone is feeling high and many bought property at the PEAK because the "future" looks awesome ... typical cycle
but so many people bought property at historic high prices, bubble burst will bring alot of hardship to singaporean families
the very same ppl who advocate crash then buy are unlikely to buy. Say all they want but when your job is at stake, you're unlikely to do anything.
That's why there's this saying. High, u don't buy. Low, you also don't buy. When u want to buy?
So now cash is king? Savings over spendings.....
If it's to come, it wun go away
We jus got to face it bravely
there's a fine line between investing and spending. Cash is always king provided some of it is used for investing.
SGD safe? USD crash we are in trouble tooMust also hold the right currency lol. SGD should be relatively safe. Ya savings over spending is more prudent, back to basic is good.
And that is the reason why there is minority of people keep saying buy gold and silver now as it will continue to rise due to cheap monetary policy. As history has shown that gold is a good hedge against inflation.
it's in our genes to migrate. we are after all migrants.Persuade the ever-demanding Singaporeans to stay?
How?
It is not possible to allow everybody ownership of a high floor apartment with a sea view in a mature estate, nor is it possible to allow everyone to own a car. It is also not possible to give everybody's kids a place in an elite school.
So tell me lah, how? How to satisfy Singaporeans?
as there's little space here, those who can of course will leave.
but it's not all rosy elsewhere. To me, it's still good to make money here. But i cannot say the same for retiring and kids education.
As a banking and financial hub, the SGD only needs to remain as predictable and stable as possible i.e. minimal volatility and not so much of being relatively strong since much of investment upside for most financial instruments are derived in other dimensions.
CHF is a slightly different kettle of fish compared to other currencies since the exchange rate is no longer fully free-floating (semi-pegged to Euro).
Yes weakening the SGD will make Singapore more competitive in trade. While at the same time causing inflation.
That aside.
Our govt's concern about SGD strength is paramount. They will try to balance SGD and competitiveness, without losing the attractiveness of SGD.
You are forgetting that we are no more a cheap manufacturing exporter.
We are a banking and financial centre now. We export financial services and import cold hard cash and make money for our stakeholders/clients in a strong currency. A strong SGD is in our interests. Why do you think the CHF has remained (somewhat) independent?
buy $260K and sell $550K ... that's what everyone is hoping for
however, how many can buy when economy is going downhill and property is crashing ... that's the big question
i'm sure many have heard of the latest JB property so called Danga Bay
i have a couple friends already flocked to Danga Bay and said how cheap is RM$800k-RM$1M for a seaview condo (ie: RM$1M = < SGD$400K)
in spore ABSD alone probably cost > SGD$100K
buy and left it empty also good if no tenant (ie: wait for capital appreciation)
That's buying a property on someone else's land.
Unless you have confidence in their government and legislation....Malaysia,
I dunno.Cos if u open rolex shop, i will buy one from uWhy not i also open cigar shop to compliment and also sportscar accessories shop for that matter....
Muayhahah
45 years old? No lah.
If by 35, you see that you're not going anywhere, better quit liao and do something else.
your stress test std is higher but yes I agree. 35yo if stil feeling like in a deadend job and not really getting promoted, then its def time to rethink. esp w CPF rules now and 30 yr housing loans, like it or not, one has to imagine at least working till 55yo.
I agree with you... If the region goes into recession, will the mega size Idkandar or Danga Bay project will ever be completed. Singaporeans forgot how many empty uncompleted buildings there are at Malaysia and Thailand after 1997 and 2001.. and what happened to all the non Malaysian investors that invested in CLOB shares..That's buying a property on someone else's land.
Unless you have confidence in their government and legislation....Malaysia,
Edited by Chucky2007, 06 September 2013 - 02:51 PM.
I agree with you... If the region goes into recession, will the mega size Idkandar or Danga Bay project will ever be completed. Singaporeans forgot how many empty uncompleted buildings there are at Malaysia and Thailand after 1997 and 2001.. and what happened to all the non Malaysian investors that invested in CLOB shares..
this one the developer fr china sibeh rich lah
Developers trim prices as new reality bites
New launches priced below expectations as buyers struggle to secure loans
[SINGAPORE] The impact is now there for all to see. Developers have been trimming launch prices for new private residential projects to adjust to the new market reality in the aftermath of the Total Debt Servicing Ratio (TDSR) framework's rollout in late June.
A case in point is the 445-unit Thomson Three condo in Bright Hill Drive, being developed by UOL Group and Singapore Land.
"Without TDSR, we could easily have priced this project at $1,500 psf on average, or even higher. We now expect to price it at a more realistic level, at $1,350-1,400 psf," said Liam Wee Sin, president (property) at UOL.
The showflat of the project, located at the Upper Thomson Road/Venus Drive corner, will open this weekend, although sales booking will begin two weeks later, on Sept 20.
"Notwithstanding the recent curbs (TDSR), we still see strong underlying demand for private homes and the overall economic outlook has been more positive recently. However, with TDSR, buyers are now more selective and sensitive to the total price quantum, so developers have to be more realistic in their pricing," he added.
The TDSR rules require financial institutions, when granting property loans to individuals, to ensure the borrower's monthly total debt repayments do not exceed 60 per cent of his gross monthly income.
Downward adjustment of developers' earlier pricing expectations is also set to surface for two condo projects where sales begin today - The Skywoods in the Dairy Farm area and The Glades in Tanah Merah. All three projects are 99-year leasehold.
For Skywoods, "we were looking at nearly $1,300 psf on average pre-TDSR but we'll now release it at $1,250 psf", said Neo Tiam Boon, group CEO of TA Corporation. TA is developing the 420-unit project with Hock Lian Seng Holdings, King Wan Corporation and Far East Distillers. "The issue today is not that there are no buyers. There are a lot of interested people who want to buy, but they could not get a loan.
"Conservatively, I estimate possibly one-third of those who saw our showflat couldn't secure a bank loan," he added.
All eyes are also on Keppel Land's The Glades, near Tanah Merah MRT Station. Earlier, agents had been giving average price indications of around $1,400-1,600 psf. KepLand declined to comment on the pricing yesterday.
Nearby, Fragrance and World Class Land launched Urban Vista in March, achieving a median price of $1,503 psf in that month. "May be KepLand will price Glades a tad below $1,500 psf," suggested a property agent, although there were whispers earlier this week that the pricing may be closer to $1,400 psf, given the challenge of moving the sheer number of units in the project - 726 apartments. "Most of the demand in the Bedok South/Tanah Merah area has probably been sucked by eCO and Urban Vista," said the agent. eCO, along Bedok South Avenue 3 and further away from Tanah Merah Station, was released in September last year, achieving a $1,283 psf median price in that month.
As developers start lowering their expectations for new launches, it is just a matter of time before this has an impact on earlier launches, acknowledged industry players.
Knight Frank chairman Tan Tiong Cheng said that of all the cooling measures in the past four years, TDSR has the greatest impact. "It dampens buying as a result of difficulty in getting loans, though interest rates generally are still low.
"As a result, developers who have already geared up to launch after the Seventh Month are all trying to find the right pricing level," said Mr Tan.
"Most people can still get loans; just not the quantum they want. As a potential buyer, I have two choices. One would be to compromise and buy a lower-cost or smaller unit. Or if a developer is seen to have dropped pricing from earlier expectations by 5-10 per cent, it may entice me to commit," said Mr Tan.
A seasoned observer reckons that token cuts of 5 per cent or less may not do the trick in most cases. "But if we see price drops of say 10-15 per cent, a lot of people will get back in to the market."
Mr Tan expects prices of projects launched less than six months ago to come down to match the new launch prices. "For developers with existing projects on the market, once sales stall, the correct strategy, which some are adopting, is to temporarily close the showflat, as leaving it open will worsen sentiment.
"They can then reopen a few months later and adjust prices to the new level," said Mr Tan.
UOL and SingLand paid nearly $720 per square foot per plot ratio for the site of their Thomson Three project. The breakeven cost could be around $1,150 psf. Absolute prices in the project start from $672,000 for a 495-sq ft one-bedder.
The development, near the future Upper Thomson MRT Station, will include 10 strata semi-detached houses priced at around $3.4-3.5 million each.
"There's a lack of supply, and pent-up demand in this vicinity. The recent ruling quashing Thomson View's en bloc sale will mean tighter supply in this micro market," Mr Liam said.
Separately, UOL last night clinched two wins at the Fiabci Singapore Property Awards 2013 - for its Parkroyal On Pickering in the hotel category and Double Bay Residences condo in Simei in the residential (high-rise) segment.
Edited by Wt_know, 06 September 2013 - 03:17 PM.
Cos if u open rolex shop, i will buy one from u
Aiyah, i dont open shop , you can buy from me too.
Cheaper even without overheads
Got Say as good as dont say....
There are a lot of interested people who want to buy cars but they could not get a loan too....
Prior to subprime in US, there were tons of interested people who wanted to buy and they got the loan, look what happened
Muayhahahaha
"The issue today is not that there are no buyers. There are a lot of interested people who want to buy, but they could not get a loan."
Got Say as good as dont say....
There are a lot of interested people who want to buy cars but they could not get a loan too....
Prior to subprime in US, there were tons of interested people who wanted to buy and they got the loan, look what happened
Muayhahahaha
Give the guy a break. He's trying to sell property, of course he would wish more people can buy, as long as the banks can lend. Do you think he cares whether the buyer can afford to keep up payments to the bank?
Không có nhận xét nào:
Đăng nhận xét