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


RadX
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no la......ssd starts counting from the day option to purchase is exercised, regardless of whether property TOP or not.

 

Ah..my bad and thanks for correcting me.

Should be The Date of Purchase or Acquisition

  1. If a residential property is purchased on or after 20 Feb 2010, SSD is payable if the residential property is sold within the holding period.

 

 

Thanks bro!

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Housing is a need. For the amount that we may profit now, it comes from future generations.

 

I have been to too many countries and seeing people sleeping on the streets/parks just because they cannot afford to find a place to stay.

 

If anyone wants to speculate or invest, better to do it in the stock markets...

 

It is true that housing is a need. And I believe we have enough housing for everyone's need. Unfortunately, we do not have enough housing for everyone's greed. And we are sacrificing our next generation in order to satisfy our greed.

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(edited)

agree. but the flip is "huat ah"

buy $1M ... TOP sell $1.2M ... that's $200K profit in 3 years

and buyer not even putting down $1M full cash leh with 70% loan?

 

1.8% FD with lots of liquidity or 2-3% govt bond with medium term maturity is very different from buying a property and getting stuck with no liquidity and contending with 2+% rental yield n high interest looming ahead.

 

Edited by Wt_know
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agree. but the flip is "huat ah"

buy $1M ... TOP sell $1.2M ... that's $200K profit in 3 years

and buyer not even putting down $1M full cash leh with 60-70% loan?

 

So now instead of individual huat, let's make the govt huat also. 12% goes to nation building. Share share the fruit of huat. Lol

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Supercharged

to be fair, last time when i missed out such property runs, i also lament.  so i can understand why now people buy 2nd property to hopefully make from the capital appreciation.

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agree. but the flip is "huat ah"

buy $1M ... TOP sell $1.2M ... that's $200K profit in 3 years

and buyer not even putting down $1M full cash leh with 70% loan?

 

This is the reason why Lawrence Wong say that the property prices are not going with the economic fundamentals. He is aware that people are purchasing properties that don't reflect their true value, hence he is stepping in to show people what the true value of the properties should be. 

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Wah.. last night's sale was fantastic.
Developers bring forward launches in reaction to property cooling measures
 
By EdgeProp Team / EdgeProp Singapore | July 6, 2018 2:55 PM SGT
Developers of two projects that previewed over the weekend of June 30 brought forward their launches by more than a week. They are Park Colonial at Woodleigh Lane and Stirling Residences on Stirling Road, which were launched on the night of July 5 instead of the original date of July 14.
 
 
 
 
 
 
 
4f221a-PARK-COLONIAL-2-TT.jpg
Queues entering the sales gallery of Park Colonial on the night of its launch on July 5 (Credit: Timothy Tay/EdgeProp Singapore)
At Park Colonial, more than 300 units were snapped up overnight at an average price of $1,700 psf. Park Colonial is a joint venture between CEL Development, the property development arm of listed construction group Chip Eng Seng Corp together with Heeton Holdings and KSH Holdings.
Stirling Residences, a joint development by Logan Property and Nanshan Group, was launched at an average price of $1,800 psf. The 1,259-unit development is located along Stirling Road, a three-minute walk from the Queenstown MRT station. It saw sales of close to 200 units on the first day of launch.
 
 
 
 
 
 
 
943786-STIRLING-RESIDENCES-4-CBC.JPG
Crowd at Stirling Residences on the night of July 5, where units are released at an average price of $1,800 psf (Credit: Charlene Chin/EdgeProp Singapore)
The project that sold the most units overnight was Riverfront Residences at Hougang Avenue 7. It chalked up more than 500 sales, with prices of units in the $1,200 to $1,300 psf range. The developer - a consortium led by Oxley Holdings - brought forward its launch by two days from July 7.
Marina One Residences likewise hastened its launch to July 5, with units at prices starting from $2,600 psf.
 
ABSD hike, LTV tightening
The reason for the rush was the government announcement shortly after 7pm on July 5, that it was raising additional buyer’s stamp duty (ABSD) rates and tightening loan-to-value...
 

 

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property = for living .... there is associated value

property = for flipping ... there is no limit to the value as long as there is another sucker willing to pay to flip

 

This is the reason why Lawrence Wong say that the property prices are not going with the economic fundamentals. He is aware that people are purchasing properties that don't reflect their true value, hence he is stepping in to show people what the true value of the properties should be. 

 


just with a stroke of pen .... $1700psf $1800psf sounds like cheaper than a Mc burger

 

Wah.. last night's sale was fantastic.
Developers bring forward launches in reaction to property cooling measures

 

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Will en-bloc fever coming to a stop? I think so.

 

 
Sales momentum to turn cold; en-bloc activity to wane as developers rethink strategies
 
By PC Lee / The Edge Singapore | July 6, 2018 2:56 PM SGT
After warning of “market exuberance” in the property market for the past six months, the Singapore government has finally raised Additional Buyer’s Stamp Duty (ABSD) rates by 5 ppts and tightened Loan-to-Value (LTV) limits by 5 ppts.
In terms of demand, sales momentum is expected to turn cold. According to a Friday report by DBS Group Research, the combined impact of these measures raises the cost of ownership on an assumed $1.5 million property purchase by $75,000 for first-time buyer and $150,000 for investor.
With the increased upfront capital commitment, DBS expects demand from investors and foreigners to cool in the immediate term. In terms of sales momentum, total volumes is expected to fall to 9,000-10,000 units in 2018, and potentially even further if these curbs remain.
 
ADVERTISEMENT
On the supply side, the en-bloc market could potentially grind to a halt as developers to recalibrate their strategies to clear unsold stock acquired at high prices.

 

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just with a stroke of pen .... $1700psf $1800psf sounds like cheaper than a Mc burger

 

It is amazing to clock 300 or 500 sales within 5 hours. It is almost one sales per min. Faster than Mc selling burger.

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Twincharged
(edited)

You are assuming HDB couple will "decouple" by selling their HDB just so they can each buy PC under their own name?

I am doubtful this group of ppl are significant in size to cause further slump in HDB prices.

How many couples can live with 2 mortage loan? Maybe a few brave ones, but not majority for sure.

Just monitor HDB transactions and prices over next two quarters.

 

Also, I did not say they must get two properties. Can get one until they are ready to get another if separate names.

 

Trust versus 12%. Tough choice indeed.

Edited by Showster
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(edited)

Aiya.. Be steady a bit la. If buying first property for own stay, buy when u need it and when u think you can afford it.

 

For investors or busybody scare of missing the boat, that boat left last night. You go check out oversea cruises lor.

 

My thoughts remain... Buy can buy but dont die die go wear big hat with a small head. Can die ugly.

Edited by Tiger1
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In the near time, it is pretty obvious that prices are going to correct a little and bigger units and those at higher quantum will lose some shine, not just because of absd but because of the ltv, 25% dp is no joke for the boderlines.

 

In the long run, as the govt has implied, it wants growth to be steady and not 3% every few months. Just as it can formulate a 25% ltv, it can do an 18% as and when it wants too so now we know the govt has its own invisible band to work on.

 

One has to remain vested for a few years in order to see this merits.

 

Those who are calling a crash cos of the new CMs are not seeing the full and big picture.

Don't be a frog in the well, Singapore is not the only place to invest in Pty. The govt is just keeping people busy financing their loans so they have no time to meddle in politics.

I don't think showster doesn't know that there are other markets.

 

U mean u can use cpf for overseas properties?

 

Buying sg properties can always form part of a basket.

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Twincharged
(edited)

In the near time, it is pretty obvious that prices are going to correct a little and bigger units and those at higher quantum will lose some shine, not just because of absd but because of the ltv, 25% dp is no joke for the boderlines.

 

In the long run, as the govt has implied, it wants growth to be steady and not 3% every few months. Just as it can formulate a 25% ltv, it can do an 18% as and when it wants too so now we know the govt has its own invisible band to work on.

 

One has to remain vested for a few years in order to see this merits.

 

Those who are calling a crash cos of the new CMs are not seeing the full and big picture.

I don't think showster doesn't know that there are other markets.

 

U mean u can use cpf for overseas properties?

 

Buying sg properties can always form part of a basket.

Haha thanks.

 

I actually also have one fully paid property overseas managed by their local agent.

 

But the rental collected in their bank has been depreciating even though the value has appreciated more than 50%.

It is amazing to clock 300 or 500 sales within 5 hours. It is almost one sales per min. Faster than Mc selling burger.

Island wide figures may be toward 2000 sales. Edited by Showster
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In the near time, it is pretty obvious that prices are going to correct a little and bigger units and those at higher quantum will lose some shine, not just because of absd but because of the ltv, 25% dp is no joke for the boderlines.

 

In the long run, as the govt has implied, it wants growth to be steady and not 3% every few months. Just as it can formulate a 25% ltv, it can do an 18% as and when it wants too so now we know the govt has its own invisible band to work on.

 

One has to remain vested for a few years in order to see this merits.

 

Those who are calling a crash cos of the new CMs are not seeing the full and big picture.

I don't think showster doesn't know that there are other markets.

 

U mean u can use cpf for overseas properties?

 

Buying sg properties can always form part of a basket.

The cash down payment for a Pty in sg is enough to buy an overseas Pty, don't even need to talk about using CPF.
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Twincharged
(edited)

This is the reason why Lawrence Wong say that the property prices are not going with the economic fundamentals. He is aware that people are purchasing properties that don't reflect their true value, hence he is stepping in to show people what the true value of the properties should be.

Yes, what great ministers we have that only allow people to pay at true value (but actually end up paying more if taxes included).

 

We are certainly blessed to have broad support for these taxes as well. Hurray.

Edited by Showster
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(edited)

The cash down payment for a Pty in sg is enough to buy an overseas Pty, don't even need to talk about using CPF.

yeah.

$500k sgd can full cash a house in overseas liao [thumbsup]

Edited by Wt_know
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