Why sporean so crazy about condo?

[Pentrain]

I can only say that come 2012/2013, these people would have wished they have never bought.

 

property prices will be so depressed by then that nobody even wants to talk about it.

 

 

what makes you say so bro..will be great if i can learn something from u..

 

if base on the 7 yrs cycle, guess the nxt economy downturn would be in 2015/2016?

[Kusje]

this is so typical of Far East. Look at Rafflesia opposite RJC in Bishan. Still have empty units after 6, 7 years.

 

That's cuz Rafflesia is the name of a smelly disgusting flower.

[Jacf]

bubble burst all die

the words coming from the horse's mouth has warned ppl that gov will not allow bubble to form..or they will go poke it before it gets too big!

i really wanna laugh when reading today's papers that got developers say it's not bubble forming but blister.. -said so that the horse will not scare away their potential suckers!

the hot property mkt really got to thank the 'KS' mentality of Sporeans.. die die must buy so as not to lose out to others!

 

today morning show got interviewed one property consultant who said he knew someone who earns 6k but buy 1 million house! This guy really must pray that he can keeps his job, the property prices dun drop, the banks dun increase their rates, and always got tenant. any one of these factors kicks in and he's ho seh liao!

[Stargate2]

Sound like SG version of Credit crunch

[Mzrmazda3]

I was at AMK central yesterday and decided to drop by this Centrio Residences showroom to look see look see while waiting for my gal to finish her class. I was shocked when i was told 80+ out of the 104 units on the phase 1 launch was snapped out just over the past 5 days. The price is over 1100+ psf, 2 bedroom unit cost about 1 mil while a 3 bedroom unit cost 1.3 mil onwards. So far most buyers are local and majority are HDB upgraders. There is only a few units of 2 bedroom units left and the floor area is pathetic 80 sq meter which is about the size of 3 room HDB. Unbelievable to see ppl paying 1 mil for such a small unit and is only 99 yrs lease term. I can only say many Sporeans are rich.

 

 

99 years niah & 1100 + psf

 

Singapo Nan really Gan Si Nan Wu Lui

[Nagakawa]

truth be told, a friend of mine who has been a property agent for more than ten years, told me that singapore has many cash rich people who buy properties with cash full payment, and they just hold and wait to sell it for profit.

 

another friend of mine who works in a local bank, tells me the same. she says many many bank accounts have millions of dollars.

 

Yup. the rich gets risches and the poor gets poorer

[Roh96]

Just look at the news today, the new condo at Tanah Merah. People queued overnight for the launch. Madness.

 

Queue overnight for condo? This remind me of my previous manager who also queue overnight for his unit in The Florida back in 2000. Extreme man.

[Roh96]

99 years niah & 1100 + psf

 

Singapo Nan really Gan Si Nan Wu Lui

 

 

Tell me about it, when i heard the DJ(The Married Man) in FM91.3 mentioned about ppl queue up to throw cheques for condo, i couldn't believe it. Where got recession? Crazy buying.

[Iridrium]

A fool and his money will soon part.

 

[Wind30]

Queue overnight for condo? This remind me of my previous manager who also queue overnight for his unit in The Florida back in 2000. Extreme man.

 

I queued for THREE nights for my EC in 2001 I think. The place was sold out in one day. I don't trust developer when they say 80% sold... lets put it this way, even if they have sold only one unit, u think they will say I only sold one unit????

 

Actually can they sell like 80% to themselves and later resell those units through agents??

[Osiris]

This condo imho is good for location only. flippers aside, those who think of staying there shld think 2x

I can't imagine the noise level that can be heard generated from the MRT + exhaust from the Bus interchange

to some it is good because hawker centre, market, amk hub and shops is just next door.

For those who prefer a little more peace and quiet, this devt is not for them.

[Yoongf]

Actually can they sell like 80% to themselves and later resell those units through agents??

 

Developer Option To Purchase cannot assign to others. Therefore, buyer who proceed must pay the stamp duty first, then can resell.

[Tzeench]

E.g. Parc Sophia 1%+9%, TOP then get bank loan of 80% than +5%.

 

Bank don't undertake, developer will undertake the contract.

 

That's why a lot of people got burn when prices came down. There is a recent story on this near to Shangrila area forget what name but a China immigrant block book 10 or 20units and got burn 40% for each unit.

 

Defer scheme is also known as interest absolution scheme.

 

 

I don't think there is such thing as 1% without bank loan until TOP. If it is, then it must be some sort of hanky panky.

 

I mean what if the buyer not qualified for bank loan? And the developer so stupid to "reserve" the unit for him until TOP only to realise he is not qualified for the loan?

 

If like that,. then even student can "buy" a 1 million condo. He just need to get $10k from his dad.

 

And I would be buying a few 1 million condo this weekend. Never mind if I doesn't qualified for loan since no bank loan is needed.

 

[Metblue]

what makes you say so bro..will be great if i can learn something from u..

 

if base on the 7 yrs cycle, guess the nxt economy downturn would be in 2015/2016?

Next downturn? What makes you so sure that we are recovering from the current downturn, although the media keep showing news that Asia is having a V recovery :)

I'm no financial guru, but looking at the current global situation, there's a high possibility that the recovery would be W shaped, hence after some signs of recovery, the economy will move downwards again.

[Tzeench]

No need to wait for so long, next year will know

 

I can only say that come 2012/2013, these people would have wished they have never bought.

 

property prices will be so depressed by then that nobody even wants to talk about it.

 

[Porker]

I was at AMK central yesterday and decided to drop by this Centrio Residences showroom to look see look see while waiting for my gal to finish her class. I was shocked when i was told 80+ out of the 104 units on the phase 1 launch was snapped out just over the past 5 days. The price is over 1100+ psf, 2 bedroom unit cost about 1 mil while a 3 bedroom unit cost 1.3 mil onwards. So far most buyers are local and majority are HDB upgraders. There is only a few units of 2 bedroom units left and the floor area is pathetic 80 sq meter which is about the size of 3 room HDB. Unbelievable to see ppl paying 1 mil for such a small unit and is only 99 yrs lease term. I can only say many Sporeans are rich.

 

$1100++ psf can land you a unit at Rivergate in River Valley. Not that its a very nicely designed development but still its in RV and that means something at least.

 

Paying this price for a c**p (you fill in the blanks) development from a c**p developer is just.... Wonder what these people are thinking.

[GoodCar]

This condo imho is good for location only. flippers aside, those who think of staying there shld think 2x

I can't imagine the noise level that can be heard generated from the MRT + exhaust from the Bus interchange

to some it is good because hawker centre, market, amk hub and shops is just next door.

For those who prefer a little more peace and quiet, this devt is not for them.

 

I think MRT noise issue is not significant, I have friends who stay at some condo near MRT.

To my surprize the noise was quite minimum.

 

But I think Bus exhaust and noise may be a bit of problem.

Generally speaking. Condo near MRT will be good for the family member who are not driving.

 

For Condo near MRT, I think better choice will be those not at the centre of the Hub.

e.g Tanah Merah, Kambagan and one more at the west. They are convenient but yet not too far from HUB.

 

BTW, Singapore is very small (size I mean, it is big in some other way),

I think no where in Singapore is far by international standard.

I use to drive 40 minutes to work on expressway when working oversea.

 

At some city, the middle upper class actually prefer to stay away from the city.

 

The really rich will have one villa outside the city and one apartment in the city, plus many many more.

 

But on the whole, we must all be grateful that most people here have a roof over their head.

To be able to pick, choose and complain is a blessing from heaven.......

 

Go to some third world country and see how lucky we are.

 

Just my opinion

 

 

[Crusader75]

I can only say that come 2012/2013, these people would have wished they have never bought.

 

property prices will be so depressed by then that nobody even wants to talk about it.

 

yup... wait for the bubble to burst... then that's when the real bargain hunting begins... please, oh please... more people to the slaughterhouse showroom... so there will be more choices when the bubble bursts and hopefully government don't step in and control...