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Private Property prices......still up or down? Part II


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not really.

 

I suspect we can easily spot someone with inferiority complex if he really buys a shoebox to stay if he just say I stay in condo.

 

The question nowadays is , " 1000 sqft condo ? must have cost you a huge sum of money"

 

SOme buy for investment. Even I try to workout the space for a 700sqft, it seems hopelessly unlivable.

Let alone a 4xx sqft condo.

 

Granted that its more for a single to stay. 

 

In HK, its already hit the peak and lifestyle there is to stay out as late as possible in order to only come home to sleep.

 

Thats why no one goes off from the office till 9pm. Than have dinner and go back to a pigeon coup to sleep.

I do see the appeal of such small units especially for young couples, individuals and retirees cos it easier to maintain/clean and has facilities within the development. 

 

For me, large living is not something I want cos my family do not use living at all and we don't watch TV.  We spend more time together in kitchen or dining room. [;)]

At this rate, i worry for our children and their children children 

No need to worry. There are still HDB flats, rent until they can afford to buy their own place or work overseas if the prospect is better than here.

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As much as I dislike and worry about the diminishing sizes of new homes, if we look hard at our countries' statistics (my area of interest), you will see more singles, smaller families and people marrying later.

Their incomes are high enough not to qualify for HDB and because they marry later or stay single, they also can't get HDB new.

 

This means a small 500 sq ft place might work. One bedroom, the other becomes a de facto walk in wardrobe / guestroom, and you only need one toilet, no balcony. The bomb shelter, well if you get the latest or really older unit, that's optional or is outside the home. If this place is close to MRT / good stores and cinemas, it will remain attractive.

Price it at the psychological mark of 1 mil or 1.5 mil for a family, and you will still see a line of buyers. 

 

Other buyers are likely to be investors, hoping or afraid to lose out, and despite the astronomical prices, they want in. Stay invested is the byline, here in the forum and often repeated by sellers and agents.

 

No recession, no job loss, and everyone is happy to continue to push the prices northwards. However how many of us will have iron rice bowls and survive a recession whilst being able to service our loans?

 

That will be the litmus test..  

 

Of course we may expect policies shifts to invite high SES PRs into SG, but our government has been reluctant to dish E passes, so it's dangerous to bank on such clients for rent. 

Eg a CCR place costing upwards of 2500 psf will need very high rentals to see any kind of return.

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Twincharged
(edited)

I reiterate that as long as HDBs are affordable, the vast majority will be happy. Cannot qualify for new BTO surely can buy a 3RM or 4RM resale anywhere. The litmus test is people must be able to access affordable HDBs.

 

When someone loses his or her job or gets health issues triggering need to sell, then sell. The prices will only get more and more in your favour as time passes. Have enough buffer to hold and one will be safe.

 

While one must look out for risks, one also must understand the nature of opportunities. Strike when good ppportunities arise. The current state of opportunities is poorer than it was more than a year ago when I advocated for sincere buyers to buy, but it will still be better than the end of the year or next year.

 

Also, why buy at 2500psf if one is uncomfortable and can access 1800psf or lower? Buy what one can afford.

 

Mark my words. I really don’t get to benefit from this. Not a seller.

Edited by Showster
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Hypersonic

I got unconfirmed inputs that Casa Meyfort going enbloc deal is done ...... maybe @mercs can highlight

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As much as I dislike and worry about the diminishing sizes of new homes, if we look hard at our countries' statistics (my area of interest), you will see more singles, smaller families and people marrying later.

Their incomes are high enough not to qualify for HDB and because they marry later or stay single, they also can't get HDB new.

 

This means a small 500 sq ft place might work. One bedroom, the other becomes a de facto walk in wardrobe / guestroom, and you only need one toilet, no balcony. The bomb shelter, well if you get the latest or really older unit, that's optional or is outside the home. If this place is close to MRT / good stores and cinemas, it will remain attractive.

Price it at the psychological mark of 1 mil or 1.5 mil for a family, and you will still see a line of buyers.

 

Other buyers are likely to be investors, hoping or afraid to lose out, and despite the astronomical prices, they want in. Stay invested is the byline, here in the forum and often repeated by sellers and agents.

 

No recession, no job loss, and everyone is happy to continue to push the prices northwards. However how many of us will have iron rice bowls and survive a recession whilst being able to service our loans?

 

That will be the litmus test..

 

Of course we may expect policies shifts to invite high SES PRs into SG, but our government has been reluctant to dish E passes, so it's dangerous to bank on such clients for rent.

Eg a CCR place costing upwards of 2500 psf will need very high rentals to see any kind of return.

You got the picture quite right. I am one of those you described on point 1 and 2.

 

I am in my late 40s and no children. Wife and me brought a 900sqf condo last march. Our 1200sqt 5 room flat is fully paid.

 

Like you said, we plan to downsize in preparation for an early retirement at 55. By then our condo would be left with 5 yrs loan.

 

900 sqf shd be more than sufficient for us and easier to maintain. If bad things happen to us, we can sell 1 of our 2 properties. So, not too much stress on this part.

 

After buying our second property, watching the prices rise so fast and furious, I am happy for myself but, worried for the future generations to come, though wife and me only have to plan for our 2 selves until the day comes.

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(edited)

you have said it clearly

worried for the future generations especially those with children

if we all dont care about next generation, i am more than happy property shoot thru the sky to mars

i am worried that what we see hk today is what we see spore in 30-40 years time, which means the kid that is 0-10 years old now will suffer to the max

 

spore size cant grow but population grow 2f2f

there will be a strong pressure on resources especially housing

 

After buying our second property, watching the prices rise so fast and furious, I am happy for myself but, worried for the future generations to come, though wife and me only have to plan for our 2 selves until the day comes.

Edited by Wt_know
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Twincharged
(edited)

you have said it clearly

worried for the future generations especially those with children

if we all dont care about next generation, i am more than happy property shoot thru the sky to mars

i am worried that what we see hk today is what we see spore in 30-40 years time, which means the kid that is 0-10 years old now will suffer to the max

 

spore size cant grow but population grow 2f2f

there will be a strong pressure on resources especially housing

 

 

No need to worry.

 

It will happen. With the exception of HDB holding the fort, the young do not need to worry about affordable basic housing.

 

Just plan for it accordingly.

Edited by Showster
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IMO Stirling is good. Better than that ulu Tampines one, and the other in Clementi.. even if it costs more, it's a better bet.

 

 

Longevity !!!  :D  

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Hypersonic

I got unconfirmed inputs that Casa Meyfort going enbloc deal is done ...... maybe @mercs can highlight

No news on Casa Meyfort yet, but got stop order for Cairnhill Mansions [:p]

 

Will update if any.

 

https://www.businesstimes.com.sg/real-estate/strata-titles-board-issues-stop-order-for-cairnhill-mansions-en-bloc-sale

Strata Titles Board issues stop order for Cairnhill Mansions en bloc sale

July 3, 2018

 

(Penthouse unit owner refuses to withdraw objection to how sales proceeds apportioned; case could be headed to court)

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Hypersonic
(edited)

UP UP and away!

 

[:p]

 

https://www.propertyguru.com.sg/property-management-news/2018/7/172972/private-home-prices-in-singapore-up-7-4-in-first-half-of-2018-ura

Private Home Prices In Singapore Up 7.4% In First Half Of 2018: URA

July 2, 2018

 

https://www.businesstimes.com.sg/real-estate/new-peak-in-singapore-private-home-prices-expected-by-the-end-of-2018

New peak in Singapore private home prices expected by the end of 2018

July 3, 2018

 

IT TOOK 15 quarters of market corrections to bring private residential prices down by 11.6 per cent in the second quarter of 2017, but it may take only five to six quarters of market recovery to bring prices back up if the current momentum holds.

 

Analysts are expecting a new peak in private home prices by the end of this year.

 

The sentiment is inching us towards another peak. Singapore property prices are likely to recover to the 2013 peak levels in one or two quarters.

 

Expects Q3 2013 peak prices to be breached as early as in the third quarter of this year.

 

Transaction volume rose 14.2 per cent in the second quarter from the first quarter, with new sales volumes up 48 per cent while resale and sub-sale volume remained roughly flat.

 

Most analysts are expecting an 8-15 per cent jump in private home prices, being the most bullish with a forecast of 12-17 per cent.

Edited by Mercs
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Hypersonic

Its always the Penthouse owners ....... as usual 

No news on Casa Meyfort yet, but got stop order for Cairnhill Mansions [:p]

Will update if any.

https://www.businesstimes.com.sg/real-estate/strata-titles-board-issues-stop-order-for-cairnhill-mansions-en-bloc-sale
Strata Titles Board issues stop order for Cairnhill Mansions en bloc sale
July 3, 2018

(Penthouse unit owner refuses to withdraw objection to how sales proceeds apportioned; case could be headed to court)

 

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Hypersonic

Its always the Penthouse owners ....... as usual

Penthouse onwers should have bigger share of the proceeds

 

So if 'money no enough' ... KPKB lor [:p]

 

:D

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Twincharged

Should be the penthouse owner has more external area (GFA bonus) that he wants considered as normal area (enclosed).

 

Likely his position is not to sell in the first place.

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Twincharged

At this rate, i worry for our children and their children children 

 

as long as dont go after private property, I am sure the grand children children will still be able to sustain

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Twincharged

As much as I dislike and worry about the diminishing sizes of new homes, if we look hard at our countries' statistics (my area of interest), you will see more singles, smaller families and people marrying later.

Their incomes are high enough not to qualify for HDB and because they marry later or stay single, they also can't get HDB new.

 

This means a small 500 sq ft place might work. One bedroom, the other becomes a de facto walk in wardrobe / guestroom, and you only need one toilet, no balcony. The bomb shelter, well if you get the latest or really older unit, that's optional or is outside the home. If this place is close to MRT / good stores and cinemas, it will remain attractive.

Price it at the psychological mark of 1 mil or 1.5 mil for a family, and you will still see a line of buyers. 

 

Other buyers are likely to be investors, hoping or afraid to lose out, and despite the astronomical prices, they want in. Stay invested is the byline, here in the forum and often repeated by sellers and agents.

 

No recession, no job loss, and everyone is happy to continue to push the prices northwards. However how many of us will have iron rice bowls and survive a recession whilst being able to service our loans?

 

That will be the litmus test..  

 

Of course we may expect policies shifts to invite high SES PRs into SG, but our government has been reluctant to dish E passes, so it's dangerous to bank on such clients for rent. 

Eg a CCR place costing upwards of 2500 psf will need very high rentals to see any kind of return.

 

I think the floodgates already open liao. 

Review of key pact with India will open new areas of cooperation: Heng

https://www.straitstimes.com/asia/south-asia/review-of-key-pact-with-india-will-open-new-areas-of-cooperation-heng

 

The Comprehensive Economic Cooperation Agreement (Ceca) signed in 2005 has been instrumental in boosting bilateral trade and investment, with bilateral trade increasing from $16.6 billion in 2005 to $25.2 billion last year.

The conclusion of the second review of Ceca, after seven years of negotiations on greater access for Indian professionals and banks in Singapore, was announced early last month during Prime Minister Narendra Modi's visit to Singapore.

 

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At this rate, i worry for our children and their children children

I would be worried what jobs will be available for their generation rather than property prices. Whether there is hope in this gov to bring us to the next peak. Prices have to be supported by fundamental. If we cant stay competitive as a nation, i believe all these property hike will soon become history. For now, i see party continues and everyone is happy.
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