Veryfree Clutched July 25, 2009 Share July 25, 2009 Recession? what recession. Condos were sold within days, stock market hits record high in 10 months. Guess Sg economy will recover positively in this year. But i start to worry about those who needs to buy a decent HDB flat to get married, they are ridiculously high for new couples. i do see more newly wed couples to stay with their old folks for a longer period of time. News for ST today. PRICES of Housing Board flats have reached a historical record, rising 1.4 per cent in the second quarter this year, reversing a first-quarter dip of 0.8 per cent. Fresh data released from the HDB on Friday shows the resale price index rising to 140.2 - beating the previous record set in the fourth quarter of last year when it hit just over 139. The figures have come in slightly higher than flash estimates released earlier this month which showed that prices rose 1.2 per cent. Sales of HDB resale flats also surged 58 per cent, reflecting improved market sentiment, to reach 10,184 transactions in the second quarter, compared to 6,446 in the first quarter. Year on year, second quarter sales rose 31 per cent compared to the 7,763 units sold in the same period last year. Analysts attribute the healthy sales volume to the economic outlook which has grown more optimistic in the second quarter. Industry observers also noted that resale flats were popular as the cash needed upfront, or cash-over-valuation (COV), to buy a resale flat was low or approached zero. Friday's HDB data showed that the median COV continued to decline, falling to $3,000 in the second quarter, compared to $4,000 in the first quarter. The number of flats which sold above valuation also declined from 62 per cent of all transactions in the first quarter, to 57 per cent in the second quarter. The remaining 43 per cent was sold at or below valuation, said HDB. Meanwhile, rental rates for HDB flats did not register drastic movements. Median sublet rents for two-room and five-roomer flats for the second quarter stayed the same, but fell by $100 for three room, four room and executive flats. Rental transactions increased by 9.6 per cent to 3,862 cases in second quarter compared to the first quarter. But compared to the same period last year, it fell by 6.3 per cent. The total number of HDB flats approved for subletting rose to about 23,200 units as at second quarter, compared to 22,800 units in the first quarter. ↡ Advertisement Link to post Share on other sites More sharing options...
Route88 2nd Gear July 25, 2009 Share July 25, 2009 Selling price ups ~ buying also ups Link to post Share on other sites More sharing options...
Felipe 3rd Gear July 25, 2009 Share July 25, 2009 newly wed couples with limits have to go for new, as its cheaper. its tough living here isnt it Link to post Share on other sites More sharing options...
Veryfree Clutched July 25, 2009 Author Share July 25, 2009 To make thing worst, HDB is only building 6,000 units BTO flats (asking for premium prices). Guess who is the minister in charge. Thank you very much. Link to post Share on other sites More sharing options...
Veryfree Clutched July 25, 2009 Author Share July 25, 2009 Selling price ups ~ buying also ups Employers' CPF contribution is not re-instate to 15% still, but pay cut possibility is announced. Help! Link to post Share on other sites More sharing options...
Marquee Clutched July 25, 2009 Share July 25, 2009 lol...juz read from other forum AMK hub Centro is pricing above $1150 psf. Already previewed on Wed. Champion liao.......See which next project can beat this record. Our govt. has already promised that SG will be 1st coming out from crisis and we are transformed! Well deserved the million $$ pay-scale. Link to post Share on other sites More sharing options...
Hiphiphoray 6th Gear July 25, 2009 Share July 25, 2009 Hrrr....maybe because stocks was doing extremely well ? My friend say most of the stocks double its value recently. Me not into trading so i duno. Link to post Share on other sites More sharing options...
Spurman Supercharged July 25, 2009 Share July 25, 2009 how much have they made in stocks? 100k?? 1000k?? Link to post Share on other sites More sharing options...
Sdf5725 1st Gear July 25, 2009 Share July 25, 2009 mainly because of FT. a lot of FT got the cash and able to pay the after market HBD upfront cash that most of the local singaporean cant afford. they spoilt the market at the moment and create a false scenerio that the economy is picking up. Link to post Share on other sites More sharing options...
Fkadir Neutral Newbie July 25, 2009 Share July 25, 2009 Good for upgraders but bad for first-time buyers obviously. Link to post Share on other sites More sharing options...
Sdf5725 1st Gear July 25, 2009 Share July 25, 2009 lol...juz read from other forum AMK hub Centro is pricing above $1150 psf. Already previewed on Wed. Champion liao.......See which next project can beat this record. Our govt. has already promised that SG will be 1st coming out from crisis and we are transformed! Well deserved the million $$ pay-scale. singapore government need ppl like you. Link to post Share on other sites More sharing options...
Veryfree Clutched July 25, 2009 Author Share July 25, 2009 Hrrr....maybe because stocks was doing extremely well ? My friend say most of the stocks double its value recently. Me not into trading so i duno. Yes, it doubled since 1st quarter, but it is still a far cry from pre-crisis period. But the scary thing is, HDB median price has returned to peak period. Besides, share market uptrend does not stay forever, it is speculators at work. heard from some folks saying those who bought condos today are middle income earners like administors, engineers, supervisors. So, who are the buyers of HDB?? Low income earners? if so, can they afford a 4 room flat costs >250k, presuming their individual income is merely below $2400k per year with CPF in ordicnary account less than $500 per month? Link to post Share on other sites More sharing options...
Veryfree Clutched July 25, 2009 Author Share July 25, 2009 lol...juz read from other forum AMK hub Centro is pricing above $1150 psf. Already previewed on Wed. Champion liao.......See which next project can beat this record. Our govt. has already promised that SG will be 1st coming out from crisis and we are transformed! Well deserved the million $$ pay-scale. SG just announced a drop of 19% on export in June..... hope that SG gov can keep promise. Link to post Share on other sites More sharing options...
Toapayohkid 1st Gear July 25, 2009 Share July 25, 2009 lol...juz read from other forum AMK hub Centro is pricing above $1150 psf. Already previewed on Wed. Champion liao.......See which next project can beat this record. Our govt. has already promised that SG will be 1st coming out from crisis and we are transformed! Well deserved the million $$ pay-scale. 1150 psf? 99y some more right? piangz. those ppl who buy really got $$$ man! or damn not scared of risk! Link to post Share on other sites More sharing options...
Veryfree Clutched July 25, 2009 Author Share July 25, 2009 1150 psf? 99y some more right? piangz. those ppl who buy really got $$$ man! or damn not scared of risk! those who buy got balls, more than 2. Link to post Share on other sites More sharing options...
Marquee Clutched July 25, 2009 Share July 25, 2009 export drop? what export? those are old economy. we need only FT and more rich FTs. govt sure keep promises.........only they dun tell you the time frame and specifically "what" come out from crisis 1st - so it can be anyone guess. Much as most ppl dun like to see property px gone up, the actual # is defying the gravity, can't deny. If want to make $$, juz ride the wave and move forward; else suck thumb and wait. Link to post Share on other sites More sharing options...
Marquee Clutched July 25, 2009 Share July 25, 2009 yeah...picked up the info from other forum. $1150 psf....I did not bother to verify if this is true. 99 yrs for sure. drove past a couple of times and I was speculating $950 psf, but $1150 psf is record breaking liao.....buyers' $$ is surely easy to earn now. Far East will laugh all the way to the bank if sold 70% over weekend. Good facing can ask for more $$ @ phase 2. Link to post Share on other sites More sharing options...
Veryfree Clutched July 25, 2009 Author Share July 25, 2009 yeah...picked up the info from other forum. $1150 psf....I did not bother to verify if this is true. 99 yrs for sure. drove past a couple of times and I was speculating $950 psf, but $1150 psf is record breaking liao.....buyers' $$ is surely easy to earn now. Far East will laugh all the way to the bank if sold 70% over weekend. Good facing can ask for more $$ @ phase 2. easy $$, no wonder so many property brokers now. ↡ Advertisement Link to post Share on other sites More sharing options...
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