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Singapore Private Property prices still up or down? Part III

pChou

By pChou,
in Property Buzz

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Freeder

Freeder

Hypersonic

Most probably it’s an old unit as lease left abt 67 yrs...

Also the Reno smelly smelly at least $50k min...

Most will probably get an EC after doing their sums...

Think can still press the price if really interested..use Klopp’s gegenpress tactic

Like that considered cheap as in fire

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inlinesix

inlinesix

Supersonic

Dont know how far to mrt? Nowadays these EM not say many people want to buy?! Firstly most of this flat is corridor unit which have no privacy de. Buy such “atas” flat and yet is corridor unit. Lol.

 

Block 712 Hougang Avenue 2

 

Found in the article

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13177

13177

Supersonic

Block 712 Hougang Avenue 2

 

Found in the article

Checked that this blk is consider located in between hougang and kovan mrt lo.
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Wt_know

Wt_know

Supersonic
(edited)

I think we have established that 400-600m is our tolerance for the 'near MRT' definition...

yes, 1/2 km (500m) is the max max liao ...

600m is already pushing the limit

else any agent can say 1.0-1.5km walk is sup sup water and take it as exercise ... which they already practice now [laugh]

Edited by Wt_know
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Mercs

Mercs

Hypersonic

https://www.edgeprop.sg/property-news/penthouse-boulevard-88-sold-all-time-high-4936-psf

Penthouse at Boulevard 88 sold at a high of $4,936 psf

 

In the week of May 14 to 21, there were three transactions at luxury projects in prime District 10 where prices crossed $4,000 psf. The biggest unit sold was a 5,673 sq ft penthouse at Boulevard 88, which fetched $28 million or $4,936 psf.

post-18880-0-47884500-1559471375.jpg

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Mercs

Mercs

Hypersonic

https://www.edgeprop.sg/property-news/resale-unit-richmond-park-reaps-185-mil-profit

Resale unit at Richmond Park reaps $1.85 mil profit

 

At Richmond Park, on Bideford Road in prime District 9, the seller of a 1,550 sq ft unit made the top gain of $1.85 million over the week of May 14 to 21. The three-bedroom unit on the 16th floor was purchased for $2.53 million ($1,632 psf) in December 1999 and sold for $4.39 million ($2,830 psf) on May 16.The seller made a 73% profit.

 

Meanwhile, the second-highest gain – a profit of $1.125 million, or 115% – made during the week was at Nineteen Shelford Road in prime District 11.

The 1,561 sq ft, two-bedroom unit, purchased for $975,000 ($625 psf) in April 2002, was sold for $2.1 million ($1,345 psf) on May 15.

 

On the other hand, the greatest loss incurred over the week was from the resale of a 1,711 sq ft, three-bedroom unit at the 99-year leasehold Reflections at Keppel Bay in District 4. Purchased in April 2007 for $3.998 million ($2,336 psf), the property was sold on May 17 for $3.13 million ($1,829 psf). The seller sustained a 22% loss of $868,700.

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Mercs

Mercs

Hypersonic

https://www.99.co/blog/singapore/can-private-home-prices-really-average-2900-psf-in-2030/

Can Private Home Prices Really Average $2,900 psf in 2030?

 

(A recent DBS report is raising a bit of ruckus, with claims that new home prices can average $2,900 psf by 2030)

 

Where at private home prices at now?

 

The average private home price is roughly $1,570 psf. This is up from an average of about $655psf, 10 years ago; an increase of roughly 140 per cent.

 

If we were to go strictly by these numbers, an average of $2,900 doesn’t seem that far fetched. It’s about the same length of time, and the prediction ($1,570 to $2,900 psf) is an increase of only about 84.7 per cent; even if it were to happen, that’s a far more modest increase than we’ve seen before in the past.

 

But as we well know, things are never quite that simple; especially if we’re going to make speculations about the property scene 11 years from now. And if there’s one thing we tend to distrust, it’s analysts putting on their Dungeons & Dragons LARP outfits and pretending to be wizards.

 

 

Is it possible? Yes. But is it implausible?

 

Given how things look right now, we’d also say yes.

 

The simple biggest factor at play – the same one as its always been – is government policy. For so long as the government doesn’t want property prices to overheat, big surges like we saw in the old days aren’t going to happen.

 

This doesn’t mean you can’t find the occasional property that may appreciate this well – but such properties are going to be harder to find. They’re likely to be scarce, excellent buys that you need a lot of luck and acumen to pick. Barring big shifts in government policy, similar leaps are not likely to happen for the bulk of the market.

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therock

therock

Supersonic

https://www.99.co/blog/singapore/can-private-home-prices-really-average-2900-psf-in-2030/

Can Private Home Prices Really Average $2,900 psf in 2030?

 

(A recent DBS report is raising a bit of ruckus, with claims that new home prices can average $2,900 psf by 2030)

 

 

I don't know about 2900, but stay invest, go long and you will have some gold at the end of the rainbow..

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Icedbs

Icedbs

Turbocharged
(edited)

such a perfect deal why agent cannot market it?

why go auction? can fetch even higher price compare to agent sale?

 

Actually the agent is marketing it. But through this new platform from Propnex called HDB Auction.

 

IMO, it is pointless to use an auction platform for marketing HDB resale. Even if the auction could drive a very high price for the seller, the buyer, upon finding out a very high COV for the purchase (after the auction and need to get valuation), can just forfeit his $1000 option fee and walk away. 

 

Auction uses hype, urgency and emotions to drive prices for the sale. However, bank auctions have prove all the time that 80-90% of the houses will remain unsold in every auction. It only works well for property that is unique, rare, famous or infamous. The infamous "haunted" landed house at Upper Thomson was auction off at a far above market value last year......a feat that would have been impossible if it is through a normal sale. In cases like these, auctions work well because of all the hype that happens before the auction.

 

But for common HDB properties.....auction to me is pointless. Furthermore the expected selling price for this EM is around market value......not like it is asking for way below market value.

Edited by Icedbs
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Icedbs

Icedbs

Turbocharged

I think we have established that 400-600m is our tolerance for the 'near MRT' definition...

 

 I consider walking distance from MRT only if it is under 10 minutes walk or  less than 600m.

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Banz86

Banz86

5th Gear

yes, 1/2 km (500m) is the max max liao ...

600m is already pushing the limit

else any agent can say 1.0-1.5km walk is sup sup water and take it as exercise ... which they already practice now [laugh]

 

Haha I totally agree.. I will always give those agents the "WT Fish" look when they mentioned that  >= 600m to 1 km is a decent distance..

 

My parent's and my new place both are 3 mins walk to the nearest MRT station. I'm too pampered and will not consider anything more than 6 mins of walking.

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Rskc

Rskc

4th Gear

Haha I totally agree.. I will always give those agents the "WT Fish" look when they mentioned that >= 600m to 1 km is a decent distance..

 

My parent's and my new place both are 3 mins walk to the nearest MRT station. I'm too pampered and will not consider anything more than 6 mins of walking.

Hmmm. It depends. 800m under shade, trees, building or thru mall is definitely ok. 500m with no shade is a totally different story. I will take 800m under shade. Try walking on a 400m running track on at 12 noon.
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