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Mercs: property news & updates

Mercs

By Mercs,
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Showster

Showster

Twincharged
(edited)
4 hours ago, Mkl22 said:

i think watertown was the 1st one to shake up the prices in north east.  1300psf? in 2009/10? can't remember.

 

did it go up?

In 2016 the broad prices there was 1100 to 1200 psf. Now its 1300 to 1400 psf. 

The land only started at 2011 so it cannot be 2009 /2010.

Actual sales maybe around 2012 to 2013.

The 5 year supply of property then was more than double that today. 

Edited by Showster
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Theoldjaffa

Theoldjaffa

Hypersonic
4 hours ago, Mkl22 said:

i think watertown was the 1st one to shake up the prices in north east.  1300psf? in 2009/10? can't remember.

 

did it go up?

I dunno leh. I only track my own cck HDB resale. Stagnant.

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Icedbs

Icedbs

Turbocharged
(edited)
11 hours ago, Acemundo said:


there is no guarantee of making profit for every singapore property, if the buyer did not enter with a good choice of property at a good price.  secondly, in the height of euphoria, many buyers would suffer the syndrome of "locking in quick in case the prices or units run away from them", and because irrational.

The above is very true. A lot of people think that for Spore property, you just buy any and keep it for long and sure make money.  That's complete nonsense. 

For new launches, buyers need to be even more careful.

The problem with today's valuation is that everyone just look at the transacted prices of that particular condo itself.  So if a resale condo is transacting at average $1200psf (for e.g) , a buyer would think that if he is paying around there, then he is fine. Or if a new launch is average at $1700psf (like this Sengkang Grand) then if the buyer pays around that range, then he thinks he is ok.  Nothing is further from the truth.

Let me ask this question to every buyer out there. When you eventually sell  (that's when profit or loss is manifested), does your unit compete with the units in your condo only or does it compete with similar units and similar age condos in the vicinity? Obviously the answer is the latter, so why on earth does every buyer only look at the $psf of the condo itself when they are buying?

Does it even make sense?

In my consulting work, I look at other numbers, but I am always stumped when I look at Edgeprop top 10 losses every week and realise that most of those losing deals could have been avoided if the buyer had done a bit more due diligence that look beyond just the transacted $psf at the time when they buy

 

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Showster

Showster

Twincharged
7 hours ago, Icedbs said:

The above is very true. A lot of people think that for Spore property, you just buy any and keep it for long and sure make money.  That's complete nonsense. 

For new launches, buyers need to be even more careful.

The problem with today's valuation is that everyone just look at the transacted prices of that particular condo itself.  So if a resale condo is transacting at average $1200psf (for e.g) , a buyer would think that if he is paying around there, then he is fine. Or if a new launch is average at $1700psf (like this Sengkang Grand) then if the buyer pays around that range, then he thinks he is ok.  Nothing is further from the truth.

Let me ask this question to every buyer out there. When you eventually sell  (that's when profit or loss is manifested), does your unit compete with the units in your condo only or does it compete with similar units and similar age condos in the vicinity? Obviously the answer is the latter, so why on earth does every buyer only look at the $psf of the condo itself when they are buying?

Does it even make sense?

In my consulting work, I look at other numbers, but I am always stumped when I look at Edgeprop top 10 losses every week and realise that most of those losing deals could have been avoided if the buyer had done a bit more due diligence that look beyond just the transacted $psf at the time when they buy

 

The most important consideration for most people who are still buying now is not the price and reselling for profits.

In some developments, less than a handful are put up for sale, even past the SSD period for everyone.

For some others, they are willing to let go quickly at losses due to some concerns. But in many cases, there could be issues that are not too obvious as well.

 

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Theoldjaffa

Theoldjaffa

Hypersonic

Seems like banks have not adjusted their hone loan rates after the fed cuts.

Or will they adjust at all?

after all, many have signed up for fixed rates so it doesn’t matter for the banks to adjust down.

and for those who signed on floating, banks would already have adjusted up so again it doesn’t benefit them to adjust down.

Given the current situation, does it make sense to go fixed or floating based on FDR? Not looking at SIBOR rates

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Roh96

Roh96

6th Gear
8 hours ago, Icedbs said:

The above is very true. A lot of people think that for Spore property, you just buy any and keep it for long and sure make money.  That's complete nonsense. 

For new launches, buyers need to be even more careful.

The problem with today's valuation is that everyone just look at the transacted prices of that particular condo itself.  So if a resale condo is transacting at average $1200psf (for e.g) , a buyer would think that if he is paying around there, then he is fine. Or if a new launch is average at $1700psf (like this Sengkang Grand) then if the buyer pays around that range, then he thinks he is ok.  Nothing is further from the truth.

Let me ask this question to every buyer out there. When you eventually sell  (that's when profit or loss is manifested), does your unit compete with the units in your condo only or does it compete with similar units and similar age condos in the vicinity? Obviously the answer is the latter, so why on earth does every buyer only look at the $psf of the condo itself when they are buying?

Does it even make sense?

In my consulting work, I look at other numbers, but I am always stumped when I look at Edgeprop top 10 losses every week and realise that most of those losing deals could have been avoided if the buyer had done a bit more due diligence that look beyond just the transacted $psf at the time when they buy

 

A lot also got to do with media effect. People see index up few percent they think it applies to everywhere. Owners gain profit from their sales wah publish in media, when owners lose money...diam diam and cry in silence. So most ppl still think property is a sure win bet.

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Acemundo

Acemundo

Supercharged
19 hours ago, Lala81 said:

The price really not too bad for such a big space with still 90+ years on lease. Think got filtered out by my FH requirement for properties in the North area

oh i see, you are also shopping now....hehe

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Showster

Showster

Twincharged
2 hours ago, Roh96 said:

A lot also got to do with media effect. People see index up few percent they think it applies to everywhere. Owners gain profit from their sales wah publish in media, when owners lose money...diam diam and cry in silence. So most ppl still think property is a sure win bet.

It’s true. Index up could mean old properties down and newer properties  up by double. Different regions also have different trajectory.

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Mercs

Mercs

Hypersonic
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https://www.scmp.com/week-asia/people/article/3035984/these-singaporeans-won-housing-lottery-did-money-buy-happiness

These Singaporeans won the housing lottery. Did money buy happiness?

 

- A group of Singaporeans in their 60s and 70s became millionaires overnight when their condos were bought in collective sales by land-hungry developers

- But it’s not all smooth-sailing, as health woes and adjustment issues persist

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