Singapore Private Property prices still up or down? Part III

[therock]

On 1/31/2020 at 9:26 AM, 13177 said:

Those spend $100k on reno and think their unit is sibei awesome, when they sell their flat later also asked for sibei ridiculous price lo.

I recall one "Marvel" themed home, and the reno bill was in the six figure zone for a HDB... that's the owner's personal choice, but he/she won't see a penny when they sell..

IMHO make it nice, sure, but don't overspend...

[Enye]

mcf property guru said every square inch is gold...every condo will be enbloc

3-5% pa capital appreciation for private condos for the next 30 years and beyond

negative cash flow now also never mind

😅

[13177]

1 hour ago, therock said:

The days of the en bloc windfall are numbered for now..

The large old places like Laguna, Bradell etc face a real dilemma.. there are owners who want out, since the places are really old, and need a lot of money to maintain. But there are also those holding out because they like the space and want to get a similar sized home.

Well, no one is going to pay them enough to do so, otherwise where's the margin right?

And the longer they hold out, the worse it gets. So there is a real risk of these LH places running down to zero or facing a fire sale when the older owners capitulate.. 

I guess they just want to live their lives out in these units and don't care about resale..

How come private when old would need lot of money to maintain le? But many hdb flat also very old and yet hdb dont find maintaining them need a lot of money? 😂

[noobcarbuyer]

29 minutes ago, 13177 said:

How come private when old would need lot of money to maintain le? But many hdb flat also very old and yet hdb dont find maintaining them need a lot of money? 😂

For private condos, the monies for common area maintenance / repairs / repainting/ replacement of lifts and equipment come out of the sinking fund or they will organize a special levy collection. More facilities / More complex design / special chop carrot pricing = higher costs.  

Town Council bao the maintainence, upkeep and repair of all the HDB common areas. Less facilities / simple designs / economies of scale = less costs.

[Showster]

2 hours ago, Enye said:

mcf property guru said every square inch is gold...every condo will be enbloc

3-5% pa capital appreciation for private condos for the next 30 years and beyond

negative cash flow now also never mind

😅

Ultimately, there is half a century more to go to prove whether the idea is right or wrong.

If it is wrong, the owners will have to live in their fully paid property for that long. Many won’t even see that day. Why they worry???

[Showster]

1 hour ago, 13177 said:

How come private when old would need lot of money to maintain le? But many hdb flat also very old and yet hdb dont find maintaining them need a lot of money? 😂

HDB can employ economies of scale (40 floors of residents), separate parking charges, and incur some loss (from taxpayers) to maintain and even upgrade some of the facilities.

Can’t go wrong if basic living and costs is a concern.

[Wind30]

8 hours ago, Showster said:

Ultimately, there is half a century more to go to prove whether the idea is right or wrong.

If it is wrong, the owners will have to live in their fully paid property for that long. Many won’t even see that day. Why they worry???

If wrong, the property will not get fully paid if u bought at too high price

[Showster]

55 minutes ago, Wind30 said:

If wrong, the property will not get fully paid if u bought at too high price

We are talking generally about those who bought 2-4 decades back who needed the space then and prefers the space today.

Those who bought primarily for enbloc chances (LH more than 20 years old then) at 2007 and after 2010, as well as those who buy in Sentosa are affected by falling leasehold values. 
 

[Ash2017]

13 hours ago, therock said:

I recall one "Marvel" themed home, and the reno bill was in the six figure zone for a HDB... that's the owner's personal choice, but he/she won't see a penny when they sell..

IMHO make it nice, sure, but don't overspend...

same for those who don't buy discretionary items that is within their means eg buying car with higher capacity that is on high loans but needing to travel to JB to fill cheaper petrol; those bread and butter car owner's who spend good money on no value add-ons eg over size spoilers and etc

if one cannot afford now then purchase with value in mind or defer gratification

 

[No_worries]

Sembawang EC new launch at $1080 on average . 

https://sg.finance.yahoo.com/news/parc-canberra-ec-launches-1-035409751.html?bcmt=1&guccounter=1&guce_referrer=aHR0cHM6Ly9zZy1maW5hbmNlLXlhaG9vLWNvbS5jZG4uYW1wcHJvamVjdC5vcmcvdi9zL3NnLmZpbmFuY2UueWFob28uY29tL2FtcGh0bWwvbmV3cy9wYXJjLWNhbmJlcnJhLWVjLWxhdW5jaGVzLTEtMDM1NDA5NzUxLmh0bWw&guce_referrer_sig=AQAAACwTww2ldjS1CZxLG_v3Cp5MrVcQCLNUlq09DInEwWfWHEfH6mIcWkTBHCxyWI79vf234uVJltftWLUzNTUf7iwTAIvXWS7xl4Kee0-4dBntOiF3snDv-bbvv4AmIJBbKByE5MQGTZOrBdPJiolKeqJwg2jpDmgrb9zmY-nh3wjw

Edited February 3, 2020 by No_worries

[therock]

The current crisis will have its effect on property in Sg and worldwide 

It won’t happen immediately but once the economy takes a major hit, and we may see job losses and loan defaults. That’s when things become exciting or scary depending on your financial position. Those with no loan commitments and are cash rich will benefit the most 

The over committed who doesn’t not have a steady income should try to reduce loan exposure and work on the cash stash. 

Agents will be happy to see movement, up or down they don’t mind. 

Stay cash rich friends and watch for deals

[Showster]

3 hours ago, therock said:

The current crisis will have its effect on property in Sg and worldwide 

It won’t happen immediately but once the economy takes a major hit, and we may see job losses and loan defaults. That’s when things become exciting or scary depending on your financial position. Those with no loan commitments and are cash rich will benefit the most 

The over committed who doesn’t not have a steady income should try to reduce loan exposure and work on the cash stash. 

Agents will be happy to see movement, up or down they don’t mind. 

Stay cash rich friends and watch for deals

Most of these cash rich people may hesitate too much and miss any lobang if any anyway. Sporadic if any cos most are looking at property that can be stayed in and not investment type.

Currency value may drop a lot as well, and with the CM as a spring, the rules can also change very quickly (eg QC rules for developers).

But will be an interesting year with many variable outcomes across various types.

[Alfc]

5 hours ago, therock said:

The current crisis will have its effect on property in Sg and worldwide 

It won’t happen immediately but once the economy takes a major hit, and we may see job losses and loan defaults. That’s when things become exciting or scary depending on your financial position. Those with no loan commitments and are cash rich will benefit the most 

The over committed who doesn’t not have a steady income should try to reduce loan exposure and work on the cash stash. 

Agents will be happy to see movement, up or down they don’t mind. 

Stay cash rich friends and watch for deals

The last few year after year, some people keep repeating it will eventually tank. Is it finally here? All it need is just to tank one time, just one time out of so many false alarm and it will really turn the table.

[Showster]

6 hours ago, Alfc said:

The last few year after year, some people keep repeating it will eventually tank. Is it finally here? All it need is just to tank one time, just one time out of so many false alarm and it will really turn the table.

In SG there is just too much pent up demand for that.

I was also hopeful that interest rate will drop further. It actually did a U turn instead.

Any great opportunities to buy at a good discount will be few and far apart, and an inspiring buyer will have to go against the trend of everyone hiding at home to grab those opportunities.

And ONCE things settle a bit, the dam would BURST. 2009 first half versus second half was the example.

Edited February 7, 2020 by Showster

[Wt_know]

2 hours ago, Showster said:

In SG there is just too much pent up demand for that.

I was also hopeful that interest rate will drop further. It actually did a U turn instead.

Any great opportunities to buy at a good discount will be few and far apart, and an inspiring buyer will have to go against the trend of everyone hiding at home to grab those opportunities.

And ONCE things settle a bit, the dam would BURST. 2009 first half versus second half was the example.

if ah gong remove absd 

you will see people cheong showroom like cheong ntuc and empty the shelves .... lol

 

[Showster]

38 minutes ago, Wt_know said:

if ah gong remove absd 

you will see people cheong showroom like cheong ntuc and empty the shelves .... lol

 

Remove or reduce SSD enough Loh

[Alfc]

11 minutes ago, Showster said:

Remove or reduce SSD enough Loh

But if prices really tank, no remove ABSD also never mind as the drop will more than offset the ABSD. If fire sale, it will sell at what the market pays (i.e factor in including ABSD).

[Showster]

7 minutes ago, Alfc said:

But if prices really tank, no remove ABSD also never mind as the drop will more than offset the ABSD. If fire sale, it will sell at what the market pays (i.e factor in including ABSD).

ABSD is upfront loh...