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

[LPPL]

Wah seh....how did you know I bought a Semi-D at Serangoon, though not in 2009 but close enough, in 2007. I remembered some condo in Clementi was sold out within a day and a 3 bedder cost $1.3m back then.

 

My agent kept calling me to give her a blank cheq so she can throw in and luck draw a unit for me. When I heard the hot news, that weekend I put down a down payment for a 2800 sqf Semi-D for roughly the same amount of money instead.....

 

Ok, let me share a more recent example....I think you guys may have heard of this condo called Twin Peak. It was re-launched at a time when some of the people here are saying ppty prices gonna crash ah....so many cooling measures....how to chiong? Nevertheless, I went ahead to get a unit there as I like the location and the developer spent a fair bit to ‘upgrade’ the site to push sales, rare especially for a TOP project. I was also gutted as I missed the opportunity to get a good unit at Cairnhill 9 and earlier on Duo. So when it was relaunched at around 2500 psf, I thot cant go wrong considering it’s at Orchard Rd with MRT. In time to come, $3500 psf should be achievable, regardless how bloody low the yield maybe.

 

Fast forward 2 yrs on....its now transacting at 3.1k psf. But still under SSD, no reason for me to benefit the garment and since it’s leased out at a paltry sum of 3500 per month, I will just get the tenant to subsides the mortgage payment. Sunk in 420k 2 years ago, now paper gain 300k after 2 years....I’m really not complaining. Ok, I think I have reveal quite a fair bit of my ppty, anymore and I suspect some of my friends may identify me. For me, any time is a good time to buy ppty in Singapore. Unless we have significant change politically or economically in singapore or this region...then all bets are off!

 

Oh yah, i forgot to reply to your oue twin peaks post. For the mickey mouse unit that your bought, I had a check of the caveat and notice that for 2017, the price range is from 2k psf to 3k psf and the very high floors (#30+) were transacted at 3k psf. I presume you bought a low floor unit at 2.5kpsf and looking at a high floor unit to justify your paper gain? Let's wait and see how much your property will fetch in the secondary market later on coz developer sales and private owner sales tend to be very different. Good luck anyway.

[Newbie26]

still think the prices (>2200pfs) are way too steep, except for a few, almost all the properties in the area are FH, so longer term may be an issue

 

this plot used to be a nursery. some blocks may be close to seaview and the shore

 

Location wise, is good

 

Chiong ah!

www.edgeprop.sg/property-news/uol’s-amber-45-80-sold-opening-weekend
UOL’s Amber 45 80% sold on opening weekend
May 14, 2018
 

 

[Kusje]

Still dun get it? No project generate good rental yield ...... or every project also generate good rental yield. There is no sitting on the fence, you are either on this side or that side. I choose to be on the side that says ALL properties are good yielding in Singapore.....unless you see Singapore doomed in the long run.

Rich man logic. I am not qualified to argue with you. Let me call my sifi to counter your points. He got gcb.

 

@enye

[BanCoe]

Higher mcst fees due to less units, can look at it as more exclusivity, next time easier to enbloc

I quite like the site plan, gotta give the developer props when due. Only one tower instead of two with the rest for facilities, no 1 bedder to sell at even higher psf, 2 bed slightly smallish, but good size 3 and 4 bedders with private lift.

 

Simi Land Bank Guru, lucky not Sperm Bank i prefer $$$ (in) Bank

In MCF you are the Guru here lah to advice us small kachang puteh Edited May 15, 2018 by BanCoe

[retrozz]

still think the prices (>2200pfs) are way too steep, except for a few, almost all the properties in the area are FH, so longer term may be an issue

 

this plot used to be a nursery. some blocks may be close to seaview and the shore

 

Location wise, is good

For home stay, it is still a worthwhile purchase.  The layout is also neat and pracitcal mostly. Wouldnt be surprised if the enblocs cheques are here.

 

This UOL project is theme for a niche market, for the more affluent - lesser units and almost A-Z list of facilities, and for the even more exclusive - own private lift for the 4 bedder in stack 3. The developer is even holding back i think 28 units for later phases of the 139 units (20%).

 

This is definitely not your run-of-mill condo project. So psf would be around that range. I would pick this project over Paya Lebar Quarters for staying, anytime. That is if i have extra cash left. 

[Mercs]

still think the prices (>2200pfs) are way too steep, except for a few, almost all the properties in the area are FH, so longer term may be an issue

 

this plot used to be a nursery. some blocks may be close to seaview and the shore

 

Location wise, is good

Yes psf high as mention prior, but with resale prices trending close to 2k psf (eg the seaview) and looking to go higher, suddenly this at 2.2k psf brand new may seem reasonable afterall.

 

https://sg.finance.yahoo.com/news/prices-older-condos-amber-area-234559992.html

 

 

Location is sandwich between both.

[Mercs]

In MCF you are the Guru here lah to advice us small kachang puteh

Edited May 15, 2018 by Mercs

[Roh96]

Wah seh....how did you know I bought a Semi-D at Serangoon, though not in 2009 but close enough, in 2007. I remembered some condo in Clementi was sold out within a day and a 3 bedder cost $1.3m back then.

 

My agent kept calling me to give her a blank cheq so she can throw in and luck draw a unit for me. When I heard the hot news, that weekend I put down a down payment for a 2800 sqf Semi-D for roughly the same amount of money instead.....

 

Ok, let me share a more recent example....I think you guys may have heard of this condo called Twin Peak. It was re-launched at a time when some of the people here are saying ppty prices gonna crash ah....so many cooling measures....how to chiong? Nevertheless, I went ahead to get a unit there as I like the location and the developer spent a fair bit to âupgradeâ the site to push sales, rare especially for a TOP project. I was also gutted as I missed the opportunity to get a good unit at Cairnhill 9 and earlier on Duo. So when it was relaunched at around 2500 psf, I thot cant go wrong considering itâs at Orchard Rd with MRT. In time to come, $3500 psf should be achievable, regardless how bloody low the yield maybe.

 

Fast forward 2 yrs on....its now transacting at 3.1k psf. But still under SSD, no reason for me to benefit the garment and since itâs leased out at a paltry sum of 3500 per month, I will just get the tenant to subsides the mortgage payment. Sunk in 420k 2 years ago, now paper gain 300k after 2 years....Iâm really not complaining. Ok, I think I have reveal quite a fair bit of my ppty, anymore and I suspect some of my friends may identify me. For me, any time is a good time to buy ppty in Singapore. Unless we have significant change politically or economically in singapore or this region...then all bets are off!

I presume u paid ABSD for the Twin Peak? Assuming 7+3 percent on tax, u have just breakeven based on paper gain. Where is the gain?

[Mercs]

Chiong ah!

 

https://www.businesstimes.com.sg/real-estate/cdls-new-futura-sells-70-of-phase-2-units-released-since-friday-at-average-of-over-s3500

CDL's New Futura sells 70% of Phase 2 units released since Friday at average of over S$3,500 psf

May 15, 2018

 

IN a matter of days, City Developments Limited (CDL) has seen 70 per cent or 21 of the 30 units that it released over the weekend for New Futura's second phase snapped up at an average selling price of over S$3,500 per square foot (psf).

 

A majority of the units were bought by permanent residents and foreigners, and they were the larger apartments of up to S$10 million each, said CDL, which started previews on May 11. These were in the 60-unit North Tower.

 

To date, 62 apartments or 97 per cent have been sold with an average selling price of over S$3,350 psf for Phase 1.

[F10_Blackhawk]

Oh yah, i forgot to reply to your oue twin peaks post. For the mickey mouse unit that your bought, I had a check of the caveat and notice that for 2017, the price range is from 2k psf to 3k psf and the very high floors (#30+) were transacted at 3k psf. I presume you bought a low floor unit at 2.5kpsf and looking at a high floor unit to justify your paper gain? Let's wait and see how much your property will fetch in the secondary market later on coz developer sales and private owner sales tend to be very different. Good luck anyway.

 

Aiyo, already say 2 years ago...why you looked at 2017?  Pls dun tell me you want to ask for my unit number is it?  CSI eh....anyway if you say between 20th and 30th floor is low, then its low floor lor....whatever that floats your sampan.  

 

Ask you, developer already paid $2,377 psf ppr to buy just the land at Cuscaden Rd, what do I have to worry?  If not for ABSD and higher d/p, I would have bought x2 units.

[F10_Blackhawk]

I presume u paid ABSD for the Twin Peak? Assuming 7+3 percent on tax, u have just breakeven based on paper gain. Where is the gain?

Nope, under my wife's name, no ABSD. But seriously even with 7% ABSD, after collecting rent for 2.5 years, I would have already paid off the ABSD.  That's why I say sometimes people really calculate until the last 0.000001% and then conclude not worth it, analysis till paralyse....

 

But from all my years of experience, when the market chiong, in a matter of days, weeks and months, you would not believe the rate of increase.  If calculate until like that, I agree, FD is the best instrument because the interest rate is by 0.xxx%....very precise till the 3 significant place decimal point.

Edited May 15, 2018 by F10_Blackhawk

[Showster]

Trust me in claiming a minimum 2% price growth background rate.

 

It used to be 3.5%.

 

The longer one holds the better.

 

Certain years flat, certain years dip slightly, certain years chiong till the cows come home.

 

My last purchase was in 2015. Excluding rent, assuming I had paid ABSD, I would have break even today.

[F10_Blackhawk]

Yawn....you have anything more recent? 2007 was like 11 years ago! Not everybody is a vintage here, some forummers were probably still in primary school at that time.

Yawn lor....go and sleep lor....also nobody ask you to read my bedtime stories....it's you yourself kaypoh want to know and ask me so I share and howlian a bit lah...after I share already, why you yawn....dun wet blanket leh....

[Showster]

Price will spike very steeply not just based on demand but also based on costs.

 

Oil prices are skyrocketing, water taxes implemented. Construction costs to breakeven will go even higher...

 

Expect BTO price to go up (moderately) as well.

Edited May 15, 2018 by Showster

[LPPL]

Yawn lor....go and sleep lor....also nobody ask you to read my bedtime stories....it's you yourself kaypoh want to know and ask me so I share and howlian a bit lah...after I share already, why you yawn....dun wet blanket leh....

You old enough to be my father, think you need more sleep, but please lah, just don't make others fall asleep before you.

[therock]

Well, less units were sold this year despite all the chatter about a hot market:

https://www.businesstimes.com.sg/real-estate/developers-sold-729-private-homes-in-april-up-from-716-in-march-but-down-535-y-o-y

[Sdf4786k]

想当年。。 back in the day.. everyone who bought anything would have made $$.

 

Actual. if those can spot tell tale signs of a return 0f 2004 and share their insights, maybe better then trying to time the market.

 

My take is, the market back then had dipped, the wild card here is no one imagine it to spike so much when everyone was repeatedly experiencing bad news everywhere. Poor economy, jobless, FT losing their job and returning to their home country. Some middle level FT even did the unthinkable. Applied and got a PR just so they can stay in SG to look for a job.

 

If its 2004 all over again and the cool measures and ABSD are not tweak, I supposed its going to be quite difficult to see it from today's prices and spike to 6000psf within 3 to 5 years. 

 

But thats me . 

[Dafansu]

Well, less units were sold this year despite all the chatter about a hot market:

https://www.businesstimes.com.sg/real-estate/developers-sold-729-private-homes-in-april-up-from-716-in-march-but-down-535-y-o-y

 

I don't think the market is hot, just that those who have waited since 3/4 years back have started to enter the market. Once these people have cleared their purchases, the demand will no longer be there. With a muted population growth, low economy growth, I don't see how the market can be hot. 

Edited May 16, 2018 by Dafansu