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

[Banz86]

Ultimately what is driving rental prices are the competition around your condo.

 

There will be landlords who doesn't mind $100 or $200 lesser just to rent it out. Or some likes the profile of the tenant and don't mind getting less.

 

There are two important factors when comes to investment/rental

 

1) The entry price for the purchase has to be correct. If it is a new launch, please study the avg $psf of all new launches of the same bedroom types within 2 years in your district. These will be your main competitors. Then look at your new launch. How many % more premium compare to those? Is that premium acceptable? And that also depends on the number of new launches nearby. 

 

2) Price your rental correctly. A lot of landlord wanted prices on the high side not knowing that they are just pricing themselves out and tenant agents are just using their unit as a show flat. A good landlord agent will be of tremendous help here in giving advice and ensuring no viewing leakage. I don't want to go into the agent part because I think I can write a book on it, but I think most should get my point.

 

Good insights.. Let me take reevaluate on both your suggestions in case I'm pricing too much.

 

Thanks

[Wt_know]

ah wong sir says no buy leh ... so how?

Edited October 2, 2018 by Wt_know

[Theoldjaffa]

ah wong sir says no buy leh ... so how?

I feel for the minorities.

 

Imagine they wanna sell but cannot sell due to this policy.. quite cham.

[Icedbs]

I feel for the minorities.

 

Imagine they wanna sell but cannot sell due to this policy.. quite cham.

 

Most affected are the expensive areas like Bishan, AMK, TPY where Chinese are plenty so the ethnic quota often never change from month to month.

 

Imagine a old 5-room there is 700-800k each. How many minorities can afford? 

 

So the minority owner seller often get stuck even though the Chinese buyers are queuing to buy one.

[Kusje]

It's kinda fair. They probably bought the place under the minority scheme as well. Meaning they had priority if it were a bto or enjoyed a lower purchase price if they bought it resale.

 

But the scheme itself is stupid and should be scrapped.

Edited October 2, 2018 by Kusje

[Theoldjaffa]

Good reading material

 

https://www.99.co/blog/singapore/ethnic-integration-policy/

[Wt_know]

May 2017 to now Oct 2018 still no taker

i would say BTO “completed” flats should open up for all races after 6-months unsold

another 48 units aint gonna create a Chinese enclave

 

for resale ... abit tricky that the owner kay kay cannot sell for 6-months and then sell to Chinese for a higher price anyway to close this gap?

but why worry, if buyer know this is a open up to other races resale can hantam another 3-5% discount?

besides, this is minority cases la. with today flood of information, buyer can make informed decision!

Edited October 3, 2018 by Wt_know

[Kusje]

May 2017 to now Oct 2018 still no taker

i would say BTO “completed” flats should open up for all races after 6-months unsold

another 48 units aint gonna create a Chinese enclave

 

for resale ... abit tricky that the owner kay kay cannot sell for 6-months and then sell to Chinese for a higher price anyway to close this gap?

but why worry, if buyer know this is a open up to other races resale can hantam another 3-5% discount?

besides, this is minority cases la. with today flood of information, buyer can make informed decision!

 

Not kay kay la. Sure can sell, just a matter of price. I think we haven't reached a stage where there is no liquidity in the market.

 

As for the resale discount, I've seen minority flats in places like holland village selling for 10-15% discount.

[Wt_know]

yes. if everyone wants no $1M no talk how to sell?

[Throttle2]

Horrible

 

Buy a HDB, policies so complicated

Buy a car, policies so complicated

Get an education, policies so complicated

Take your money from CPF, policies so complicated

 

Life in Singapore, so complicated

[therock]

Life can be simple..

Live in Nepal

No choice of transport - walk up and down the mountain

No worries about land - plenty

No worries about bathing - optional

No worries about choice of food - eat dal and rice every day

No worries about traffic jams

No worries about toilets - just go outdoors

 

Each time I visit Nepal, Cambodia or such places, I look forward to the queues at changi with a smile. I stand in line for taxis with gratitude

Just saying bros

There are worse things in life..

By the way I know some very nice Nepalese food we can eat at the next MU

Not dull at all ya ha

[Showster]

Oh yeah, totally agree..

 

Our properties are within 2 mins walk from the MRT station but rental yields aren't as good as it used too. Even my parents place that is a 3 min walk from an MRT with a shopping mall and bus interchange beside it, have yields dropped around 10%.

What we can say is there are many tenant potentials around but they are looking for decent locations and not willing or able to pay high rent.

 

Know this well, and you would be able to navigate this pretty well.

[Invigorated]

Life can be simple..

Live in Nepal

No choice of transport - walk up and down the mountain

No worries about land - plenty

No worries about bathing - optional

No worries about choice of food - eat dal and rice every day

No worries about traffic jams

No worries about toilets - just go outdoors

 

Each time I visit Nepal, Cambodia or such places, I look forward to the queues at changi with a smile. I stand in line for taxis with gratitude

Just saying bros

There are worse things in life..

By the way I know some very nice Nepalese food we can eat at the next MU

Not dull at all ya ha

well said, life's complicated so that we can spend time to make it easier for us.

 

it's not life's job, it's ours.

 

life can be as simple as you want it to be. of course, it's a lot tougher for those who are less abled but I don't see how someone driving a glc would complain about not being able to simplify things.

[Mercs]

https://www.edgeprop.sg/property-news/unit-claremont-sold-114-mil-profit

Unit at Claremont sold for $1.14 mil profit

Sept 29, 2018

[Mercs]

Huaters and non huaters, Sept 11 to 18

[Mercs]

https://sbr.com.sg/residential-property/news/chart-day-cbd-new-launch-home-prices-soared-290-2013

Oct 2, 2018

 

Resale prices also rose 450% to $2,000 psf from $350 psf back in 2003.

 

Prices of new launches and resale homes in the Central Business District have been on a growth trajectory for more than 10 years.

 

Prices of new launches skyrocketed 290% to more than $2,700 psf YTD in September from $700 psf back in 2003.

 

In the resale market, prices soared more than 450% to almost $2,000 psf in Semptember from $350 psf back in 2003.

 

"The explosive growth in prices in the CBD outpaced the 82% change in URA property price index over the same period."

[Mercs]

https://sbr.com.sg/economy/news/singapore-population-inched-05-564-million-in-june

Singapore population inched up 0.5% to 5.64 million in June

Sept 28, 2018

Ageing population ... so not a matter of 'if' ... just 'when' ;)

https://www.straitstimes.com/singapore/spores-fertility-rate-down-as-number-of-singles-goes-up

Singapore's fertility rate down as number of singles goes up

Sept 28, 2018

[Wt_know]

singles ftw!

read newspaper $2900/psf all scared to get married liao

Edited October 3, 2018 by Wt_know