Kelfinity 1st Gear September 28, 2008 Share September 28, 2008 Unless one owns 2 properties, its very hard to make money from market fluctuations. Dun understand one of the computation stated in papers though. If the flat costs $600K, and loan at 2.6% (HDB loan) is extended to 30 years, monthly installment is about $2400 per mth. How did they end up with $3K per mth? Somemore, people will down 20% 1st payment so the mthly payment should also come down correspondingly. ↡ Advertisement Link to post Share on other sites More sharing options...
Perrier 1st Gear September 28, 2008 Share September 28, 2008 Your recommendation is not wrong. But I am just waiting for the property market to drop a little. Will definitely buy when the expectation becomes more realistic. Link to post Share on other sites More sharing options...
Kelfinity 1st Gear September 28, 2008 Share September 28, 2008 Heng I bought my S2 unit at about $380K back in end 2003. Everyone was so pessimistic with my purchase price back then. They were saying that I just need to top up say 100K to get a good condo or buy a normal 5 rm at $200K+. Good that I stand by my decision. Properties should appreciate in the long run... if you are willing to hold. Even in today's price I should say. Link to post Share on other sites More sharing options...
Kelfinity 1st Gear September 28, 2008 Share September 28, 2008 When do you think pty price will come down? If yes, by how many percent? If I am not wrong, pte pty prices have already soften somewhat? Link to post Share on other sites More sharing options...
Kelfinity 1st Gear September 28, 2008 Share September 28, 2008 Subsidised flats at market rates indeed. Link to post Share on other sites More sharing options...
Perrier 1st Gear September 29, 2008 Share September 29, 2008 I am looking at 2009/2010 when lots of private development TOP. If the economy maintain half-dead, there will be good buys when speculators will dump their investments before TOP. My other option is to sit out till 2013 when I can again re-apply for the HDB loan (unless the rule changes). My advantage is that I am in no hurry to buy a flat. Given the gap of private and public housing is smaller, it makes more sense to buy private. I am not a guru in property, that's just the options I have at the moment. Link to post Share on other sites More sharing options...
Kelfinity 1st Gear September 29, 2008 Share September 29, 2008 Good that your wife is ok with staying with your old folks. Cos i think most would not want to do so due to conflicts or the want for personal space. You are considered fortunate. Link to post Share on other sites More sharing options...
Perrier 1st Gear September 29, 2008 Share September 29, 2008 bro, the $70,000 hard cash (her share) from the sales of the flat will keep her happy for some time. Link to post Share on other sites More sharing options...
Blackyv Turbocharged September 29, 2008 Share September 29, 2008 i nearly have to eat instant noodles with a 4-rm at punggol, are they sure 6K+ can afford a 600K flat??...... hi bro, care to share your situation? mine is quite a classic type... mid 30s, just married yrs ago... one income, 3 mouths, parents, 1 4-rm, 1-saloon car, and many insurance and bills to pay...... Link to post Share on other sites More sharing options...
Testa_ross4 Clutched September 29, 2008 Share September 29, 2008 If you waiting for market to drop, then you must look at pte property, it is showing signs of cracking as many TOP units coming on line this year and 2010 and speculators may not have holding power, many developers with current projects also shaking as banks also get jittery, I went to a launch last saturday and the small developer was giving big discounts to clear stock but he has only sold 3 units out of 18 in the past 1 month and has a schedule to meet when the construction starts and the payments start kicking in and interest starts building up, pretty scary. HDB market, sellers can expect strong holding power as rental restrictions have eased substantially, even if there are owners in trouble with jobs, they can easily rent out their units and stay at the parent's homes and collect rent and wait for good prices before selling and as one poster has said, the sub prime conditions of the US may not apply here, as HDBs are financed through CPF and not unsecured loans. Link to post Share on other sites More sharing options...
Perrier 1st Gear September 29, 2008 Share September 29, 2008 spot on! I see it as a buyer's market from now till 2010. Personally I feel its still too early to go in now. The only reason why I feel they are originally holding all those unsold HDB flat was hoping to make more profit when the economy is flourishing. The sub-prime and now credit crunch must've spoiled their plan so now quickly dish all out before they had to lelong again like 5yrs ago. Link to post Share on other sites More sharing options...
Damienic 5th Gear September 29, 2008 Share September 29, 2008 Perhaps it might be a good time to go in around 3rd Q 2009... Link to post Share on other sites More sharing options...
Altivo 3rd Gear September 29, 2008 Share September 29, 2008 No choice mah..HDB sell according to mkt price & they mark it slightly cheaper than market price. Guess u got ur unit from HDB,those left over units?Last time SK & punggol nobody wanna stay there,HDB lelong that area..i got a chance to purchase an exec at $280k b4 property mkt burst..location quite gd,walking distance to compasspt,but back out..nw tink worth at least $400k My frd bought a 4rm sengkang $110k few years back..tink 5th floor.He sold at nearly $300k,he laughing all the way to the bank since he fully paid in the 1st place.Now staying at his inlaw place waiting for property price to go down. SK and Punggol got potential... The masterplan is to develop into a recreational area. The sports hall/swimming pool is already up and a couple of more parks are under development currently. It is now served by 3 expressways (TPE/KPE/CTE) which means it's no longer as ulu as before. I think i got my exec flat at about the same time u backed out. $258k for mid floors... it was too good to let it go. Link to post Share on other sites More sharing options...
Ngck 3rd Gear September 29, 2008 Share September 29, 2008 I also just sold my flat and going back to stay with my folks. Image there is about 45% of the TP@D still available... If you think about it, it is one of the oldest BTO and yet they only release the leftovers after the Boon Keng and AMK BTO were released. Kinda pissed by the 'marketing' strategy of HDB. artificial price control??? Link to post Share on other sites More sharing options...
Ngck 3rd Gear September 29, 2008 Share September 29, 2008 i got a few friends in the same situation as you.... can survive but need to cut down on extra spendings Link to post Share on other sites More sharing options...
Princey_anne 1st Gear September 29, 2008 Share September 29, 2008 For this type of selling price, how do a couple with income of 8K afford it? we just calculated - with less than 8k total, we don't need to fork out any cash. of course that's maxing out CPF. hold for five years then see how. wish us luck! That's the way to go. Link to post Share on other sites More sharing options...
Sofarsogood 1st Gear September 29, 2008 Share September 29, 2008 I am looking at 2009/2010 when lots of private development TOP. If the economy maintain half-dead, there will be good buys when speculators will dump their investments before TOP. My other option is to sit out till 2013 when I can again re-apply for the HDB loan (unless the rule changes). My advantage is that I am in no hurry to buy a flat. Given the gap of private and public housing is smaller, it makes more sense to buy private. I am not a guru in property, that's just the options I have at the moment. Where to find this lobang for sub-sale? Link to post Share on other sites More sharing options...
Testa_ross4 Clutched September 29, 2008 Share September 29, 2008 Call your real estate agent friends, or make some RE agent friends. RE agents have big chances to make money from property, just imagine, if the property comes out for sale in the classifieds how many parties have rejected it as a good deal. 1) Agents themselves 2) Their friends and relatives 3) Their clients or business associates 4) other agents in the network So really not worth buying already. I usually buy and sell properties from network only deals. ↡ Advertisement Link to post Share on other sites More sharing options...
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