Private property prices... Up or Down?

[Showster]

In the block I stay in, someone bought 4 storeys directly above mine at 82k lower compared to the price I paid for my unit for 1.5 years ago.

 

Of course there are many other factors contributing to the dip, but simplistically saying, higher floor units should fetch higher prices in general given the same facing.

Bro, don't mind can define how you class as very close to town?

 

2km to Orchard or Raffles Place etc?

Rivergate is one of my favourite condo other than Maplewoods.

 

I used to have a clear straight line view of Rivergate in my HDB. But the quantum is too high, cannot afford.

I will buy one more with cash and get my wife to max loan and buy one more. Huat till siao!

[Wt_know]

wah ... so many got $700k cash under pillow at home ar?

pei fu pei fu

Edited December 24, 2016 by Wt_know

[Throttle2]

wah ... so many got $700k cash under pillow at home ar?

pei fu pei fu

I thought there was only 1 ToaPowSian here, me.

 

Didnt know got so many .

[Deividz]

Good example of principles u adhere to

Very pragmatic

Buy 2 private in exchange of one HDB and entry price at 5 year low, its good strategy

Thanks again for sharing

 

 

 

 

 

 

 

City square residence?

 

 

The last time rivergate hits 1000pfs plus is at launch in 2005

To go back 2005 price, some major event would have to happen and better for everyone for correction to go at worst to 2009 or 2010

City Square Residence is too expensive for me.

I paid slight less than 1.1k psf for my 2 bed loft unit.

PDPA.

Cannot reveal too much.

[Mercury1]

Would also add en bloc potential to the list hehe

 

I don't look at new launches anyway, all profits taken by developer liao.

 

My 5 rules for buying investment property based on my own budget.
1. Buy close to 07-09 pricing.
2. Buy freehold
3. Buy very very close to town
4. Buy near MRT
5. Must be fire sale.

New condos are way too expensive. Might take another 2 round of boom to realize profit.

 

[Theoldjaffa]

Would also add en bloc potential to the list hehe

 

I don't look at new launches anyway, all profits taken by developer liao.

Resale, profits taken by first owner also leh

 

 

Unless firesale or prices are lower than at launch, which at current market is not possible now right?

[Mercury1]

Personally I find it easier to find a gem when dealing in resale as compared to new, profits will be taken by current owner (assuming net positive) but it wouldn't be as outrageous compared to new launch.

 

Of course new launch is like new car bah everything swee swee but it comes at a price. Not to mention these days developers all have these loft concepts, useless balcony space etc to maximize profit which buyer also pays for. Older units easier to find practical sized apartments.

 

Current market not possible, even during downturn developers with deep pockets can also hold. Wait till a proper downturn I guess.

 

 

Resale, profits taken by first owner also leh


Unless firesale or prices are lower than at launch, which at current market is not possible now right?

 

[Theoldjaffa]

Personally I find it easier to find a gem when dealing in resale as compared to new, profits will be taken by current owner (assuming net positive) but it wouldn't be as outrageous compared to new launch.

 

Of course new launch is like new car bah everything swee swee but it comes at a price. Not to mention these days developers all have these loft concepts, useless balcony space etc to maximize profit which buyer also pays for. Older units easier to find practical sized apartments.

 

Current market not possible, even during downturn developers with deep pockets can also hold. Wait till a proper downturn I guess.

I also prefer resale. Reason being the buyer can have higher bargaining power. It's always easier bargaining with a motivated seller rather than with developer.

 

Also, I get to see the actual unit, the condition of the estate, the type of neighbours, actual traffic conditions, and the health of the sinking fund before deciding.

 

Profit for the owner, so be it.

[Enye]

wah ... so many got $700k cash under pillow at home ar?

pei fu pei fu

sure bo...700k cash under the pillow enough to buy 2 private properties?

 

 

[Pinobii]

sure bo...700k cash under the pillow enough to buy 2 private properties?

 

 

[Wt_know]

sure bo...700k cash under the pillow enough to buy 2 private properties?

 

ð

bro, it's each pillow ...

Eh how to buy two private properties with one hdb huh....I still can't figure that out ð¬

got 5 thick thick pillow can already ...

[Icedbs]

Resale, profits taken by first owner also leh

 

 

Unless firesale or prices are lower than at launch, which at current market is not possible now right?

 

It doesn't quite matter whether you are first owner, 2nd or 3rd. All can make money, provided they buy it at the right price.

 

I can show you also first owner will lose money if they bought at a super hype up price. Latest one being Chelsea Gardens, 19 years holding period, freehold in D10, but still lose money. check the story here:

 

http://www.theedgeproperty.com.sg/content/hefty-loss-incurred-despite-19-year-holding-period

 

So if the first resale owner make money so be it. It means the property brought him prosperity, and not some force fire sale because of divorce, bankrupt, etc.  There is lot sof money in the world to go around, and if the 2nd owner buy at a fair price, there will still be money to be made. I seen it all the time being in this business.

 

In today's market, there are some really good resale deals going around. Like some members said, the older units had good layout, more spacious and very fair psf. But one need to assess the value carefully, and know what is the price level to enter for that condo.. There could be a few condo in the same area, and not every condo is the same. Talk to a professional and they should be able to suggest some good resale.

[Throttle2]

Eh how to buy two private properties with one hdb huh....I still can't figure that out

Edited December 24, 2016 by Throttle2

[Enye]

Can.

Depends on what kind of private property

What size

What age

And also how much loan.

$700 split both ways is $350k.

Each spouse can downpay for a $1mil private property.

Just dont lose job and kena margin call lah....

 

High risk high returns loh.

NOt my style as you know but at least he put money where his mouth is and prepares for the fight.

wah ... definitely not for old peasants with no $ and no guts

 

 

[Throttle2]

wah ... definitely not for old peasants with no $ and no guts

 

 

[Deividz]

Eh how to buy two private properties with one hdb huh....I still can't figure that out ð¬

Blessed Christmas.

I do the Math for you.

Both our properties combined cost 2.15m

Take 25% for downpayment, stamp duty and other fees.

Drum roll...... 535k!

Of course, we had buffer of 80k to do Reno & furnishing for own stay.

There you go. It's achievable.

FYI, I'm late 30s and my wife is early 30s.

We all semi Garmen Slaves.

[Throttle2]

Blessed Christmas.

I do the Math for you.

Both our properties combined cost 2.15m

Take 25% for downpayment, stamp duty and other fees.

Drum roll...... 535k!

Of course, we had buffer of 80k to do Reno & furnishing for own stay.

There you go. It's achievable.

FYI, I'm late 30s and my wife is early 30s.

We all semi Garmen Slaves.

Wah say

Zhenghu kang, oon oon jiak bee hoon

 

I also want to work zhenghu kang but cannot find......

[Showster]

If still have doubts about the long term sustainability of property prices, demand and supply, there will be more and more of your friends / colleagues / peers who have transited into private property, particularly those in the 30s to 40s age group. Take a good look at their personality, education levels, occupations, roles in their occupation, and the reasons behind why they have made that move, why that location,why the size etc, what their purpose is for their existing properties (if they have not sold it), or why they have sold, why they have chosen to pay ABSD or how they avoided paying.

 

Have a good interview with them. It helps if you are close friends. Listen to their reasons carefully.

 

Find a few of such people to talk to, and some trends will emerge. One will then be able to get a clearer and better idea about the role of private properties, and the price trends going forward.

 

I had a good Christmas gathering with friends and quite a few have recently made the move. 

 

But back to the importance of prudence, please make sure you satisfy yourself (not the 700K man or the Table Wiper) that you have the buffer necessary.

 

Merry Xmas all. May the property force always be with you.

Edited December 24, 2016 by Showster