What makes a condo valuable?

[Wt_know]

huat ah ... !!!

economy is darn good

even bus driver will get 16% salary up .... so increment for 2012 is smelly smelly 10%?

 

I'm not surprised by the sudden spike in sales.

 

The buying momentum hasn't really gone away. It merely removed the aspirant buyer. I mean, look at the high hurdles today wif ABSD, SSD, 40% d/p, no DPS and many s'poreans can still buy. Meaning, the mkt is driven by those who could reallli afford to buy wif little risks to the banking system. Plus, IMF reported that the world economy is poised for growth, the risk of a china hard landing has dissipated, euro banks survived the stress tests, US economy showing signs of recovery, stubbornly high inflation rates wif equally high oil and commodity prices, professor study say we need 25000 new immigrants/year, etc, etc. If anything, i tink next month we'll see even higher sales numbers.

 

Same like COE, sales at MB & BMW macam fish market liddat despite high prices. Those who could afford not affected and onli weeded out those who were looking at cheaper cars.

Edited April 26, 2012 by Wt_know

[Sunny]

huat ah ... !!!

economy is darn good

even bus driver will get 16% salary up .... so increment for 2012 is smelly smelly 10%?

 

 

mine is abnormal job...only 0.49325%

[The_Bear]

I used to think that location and freehold are some of the more impt factors that increase the value of a condo.

 

But now after seeing such high prices for some 99 year old condos in OCR makes me wonder what makes a condo valuable. Furthermore these condos are not exactly very near MRT.

 

Could it be age? New condos always more expensive than older ones (even 2 year old). Like cars?

 

What estates in OCR are expensive? I certainly wouldnt want to stay in areas like Eunos, Geylang or Bedok.

A mix of stupid and optimistic people with some money.

[Asd78]

A mix of stupid and optimistic people with some money.

 

 

Maybe there are ppl who sold their prev hse or enbloc and they have cash but dunno where to invest.....as one buyer told me, what can I do with the money then? when i told him some of the new launch are way overpriced and cant be rented out immediately...basically he's nt a savvy stock investor and he got cash on hand...

[Zze121]

Reported 2 days ago...

 

Is the sheer number of new properties, resale properties and public housing options simply too mind-boggling for the home buyer? It seems so for some, as seen by the number of buyers returning their units in March, thus forfeiting their option fee. What could be the reasons? Buyers of 107 new private homes had a change of heart last month and returned their units to developers. The numbers, contained in a report from Goldman Sachs, show that even in a hot market, some people get cold feet. The same report also stated that 100 homes were returned the month before. That means these buyers have paid an option fee but have chosen not to exercise the option and go ahead to complete the purchase. When someone buys a new condominium, they put down an initial option fee of 5 per cent to

[Maz0608]

huat ah ... !!!

economy is darn good

even bus driver will get 16% salary up .... so increment for 2012 is smelly smelly 10%?

If bus driver also can get a 16% increment, I dun see any reason why we are not getting 20% this year.

 

[Acemundo]

A mix of stupid and optimistic people with some money.

 

seems to be the case now.

 

i was shopping for a unit in particular development.

 

the transacted prices showed all high floor units sold only and between 905k - 980k

 

so recently i made offer for high floor unit 950k got rejected. think the other buyer eyeing this unit got rejected as well and went to buy a 3rd floor unit 960k........crazy le, no low floor sold the last 4 months and this buyer snap up a 3rd floor at 960k? another case of blind optiism or panic buying.

[Soya]

seems to be the case now.

 

i was shopping for a unit in particular development.

 

the transacted prices showed all high floor units sold only and between 905k - 980k

 

so recently i made offer for high floor unit 950k got rejected. think the other buyer eyeing this unit got rejected as well and went to buy a 3rd floor unit 960k........crazy le, no low floor sold the last 4 months and this buyer snap up a 3rd floor at 960k? another case of blind optiism or panic buying.

 

 

there's a slight lag in the ura caveat prices or sometimes there's no caveats lodged. so, units may hv been transacted at higher prices or prices may hv moved when u made the offer.

[Porker]

Its always about location. Those who think otherwise are kidding themselves

[Acemundo]

yep, that's my worry though. the last one i had was done i think late march. but still, it is rather optimistic to offer such price for low floor unit le.

 

 

[Soya]

yep, that's my worry though. the last one i had was done i think late march. but still, it is rather optimistic to offer such price for low floor unit le.

 

 

for all u know, maybe the low floor unit is now $1M.

[Acemundo]

for all u know, maybe the low floor unit is now $1M.

 

haha nah......today i ask the agent, she say OTP was issued yesterday at 960k.

 

anyway, decided to look elsewhere since no reasonably priced unit for sale.

[Soya]

haha nah......today i ask the agent, she say OTP was issued yesterday at 960k.

 

 

resale or new launch?

[Acemundo]

resale

 

i must say i am amazed the ABSD did very little to curb buying interest.

 

our govt have underestimated the sentiment and hooha surrounding singapore properties.

[Old-driver]

resale

 

i must say i am amazed the ABSD did very little to curb buying interest.

 

our govt have underestimated the sentiment and hooha surrounding singapore properties.

In this current climate where unemployment rate is low, economy doing fairly ok, interest rates at record lows, there is no compulsion by home-owners to sell their units lower when they can afford to hold. ABSD... a deterrence but not effective enough. Prices moderate yes, but not enough to make home prices come down. Not to mention all the hot money flying around in the world.The only time it will it when all of the above kicks in.

 

Perhaps its time to raise interest rates

[Bystander50]

Hi,

 

 

If you are about to buy a condo then you are opting the perfect investment options. The foremost benefit of owning a condo is that it reduces the overall expenditures.

 

 

 

 

In what ways?

[Wt_know]

all the money goes to the condo ... no rolex, no LV, no iphone 5s, no expensive valentine dinner ... lol

 

then praying the condo price rise 150% 200% and sell ...

 

 

In what ways?

 

[Kusje]

 

In what ways?

 

No more free cash to spend on other stuff. All your money is saved for your condo's payment.