Singapore Property Scene Discussion

[Victor68]

1 hour ago, Throttle2 said:

Loans are still easy peasy.  Everybody YOLO.  Economy holding up well for People who are Employees.  Govt inject Supplements.

the Fun was over long ago.   These new buyers wont make much extraordinary gains like we used to.   Just wealth preserving at best.

So all sitting waiting for the sun to raise from the west someday? Would inflation makes today psf looks OK in the next 5 years assuming nobody goes bankrupt, I mean these buyers? Or maybe outside forces will snap up whatever people need to throw later? 

[Throttle2]

51 minutes ago, Victor68 said:

So all sitting waiting for the sun to raise from the west someday? Would inflation makes today psf looks OK in the next 5 years assuming nobody goes bankrupt, I mean these buyers? Or maybe outside forces will snap up whatever people need to throw later? 

More are buying to stay.  "Upgrading" from bigger public unit to smaller private unit. 

Bankruptcy in SG is always fairly low but with higher usage of leverage, it will go up.  
Financial stress will be greater on these families who bite more than they can chew.  Dont need to be bankrupt to feel the stress

Outside forces will take up some as they always do.   But certainly not all the lousy mass market condo in suburbs 😁😂

[Victor68]

28 minutes ago, Throttle2 said:

More are buying to stay.  "Upgrading" from bigger public unit to smaller private unit. 

Bankruptcy in SG is always fairly low but with higher usage of leverage, it will go up.  
Financial stress will be greater on these families who bite more than they can chew.  Dont need to be bankrupt to feel the stress

Outside forces will take up some as they always do.   But certainly not all the lousy mass market condo in suburbs 😁😂

I am actually seeing this trend "Upgrading" from bigger public unit to smaller private unit. Selling their 1,500 sq ft for $600k and moving into a 900 sq ft for $1.4 m or smaller. Even with this, the gap is still $800k to be paid over 30 years? Hopefully when the time come to retire, this $1.4 m apartment will turn into $3 m for downgrade and happy after.

 

 

[therock]

IMO

whatever you do : live within your means

dont overextend and live perpetually in debt

maybe prices will go up but it’s ok to be content too

the gulf in prices between a HDB, even a million dollar one and a basic condo is still very significant 

that money can buy a nice car, pay for many holidays and more

so where you put your money is less important than whether it really makes you happy..

[Throttle2]

5 minutes ago, therock said:

IMO

whatever you do : live within your means

dont overextend and live perpetually in debt

maybe prices will go up but it’s ok to be content too

the gulf in prices between a HDB, even a million dollar one and a basic condo is still very significant 

that money can buy a nice car, pay for many holidays and more

so where you put your money is less important than whether it really makes you happy..

Exactly that.  
No point having most of your networth in a property.  If can cut into several smaller ones still not so bad. Easier to liquidatejust in case.  
contented can liao

the race is always against yourself

[therock]

Loans for asset rich seniors…

https://www.asiaone.com/money/new-dbs-reverse-mortgage-loan-good-asset-rich-cash-poor-retirees

but I wonder how many will bite… they want free money and still hang onto their private property… and get angry with the government for not giving them that… 

[Throttle2]

13 hours ago, therock said:

Loans for asset rich seniors…

https://www.asiaone.com/money/new-dbs-reverse-mortgage-loan-good-asset-rich-cash-poor-retirees

but I wonder how many will bite… they want free money and still hang onto their private property… and get angry with the government for not giving them that… 

Those who want others to pay them to hold their assets is lanjiao lang of the lowest class. 
 

They have no right to get angry for that reason.  Sell the asset first then talk.  
 

anyway all these reverse mortgage plans is like the banks acquiring properties while charging interest. i wouldnt mind doing it to a developer.

eg. I pay developer a fixed sum every month for which i charge them interest, then 20yrs later, i sarpoot the property under my name since they owe me big money (P+I)  basically like a rental guaranteed property purchase.   Song song gao jurong.  
muayhahhahhahhhahah

[Showster]

On 8/18/2021 at 10:08 AM, Throttle2 said:

Loans are still easy peasy.  Everybody YOLO.  Economy holding up well for People who are Employees.  Govt inject Supplements.

the Fun was over long ago.   These new buyers wont make much extraordinary gains like we used to.   Just wealth preserving at best.

10 years ago when psf was $1K you also said the fun was over. 5 years ago, psf was $1.2K you also said fun was over.

Anyway, it’s not pure fun. But amongst all assets to own, it’s really the best in my limited experience.

Sleep well, collect money, defended against inflation. Only ask to buy 1 more if at all possible.

Edited August 20, 2021 by Showster

[Ash2017]

On 8/8/2021 at 5:07 PM, golden_eagle said:

I read somewhere that the 5 CDL plots at Pasir Ris Grove, coco Palm, D'nest, etc are "LH99 tenure carved out of FH land". It's said such LH99 may run into enbloc issues down the road. 

Want to check whether that is true. The following is what I get from the SLA land title, but not sure how to interpret that. 

--------------------------------- STATE TITLE ---------------------------------
STATE TITLE : LEASE No. 26650
ISSUE DATE : 27/2/2008
LEASE TERM : 99 Yrs
COMMENCEMENT DATE : 7/1/2008
EXPIRY DATE : 6/1/2107
SUPPLEMENTAL DEED DATE : 10/11/2014
GRANTEE/LESSEE NAME : HONG REALTY (PRIVATE) LIMITED
MANNER OF HOLDING : SINGLE PROPRIETORSHIP

Same for the property opposite Katong Shopping Centre.

 

[Ash2017]

58 minutes ago, Showster said:

10 years ago when psf was $1K you also said the fun was over. 5 years ago, psf was $1.2K you also said fun was over.

Anyway, it’s not pure fun. But amongst all assets to own, it’s really the best in my limited experience.

Sleep well, collect money, defended against inflation. Only ask to buy 1 more if at all possible.

Capital appreciation, cannot agree with you more. Most properties have gone up 2-4 times. Overseas properties at least for me are doing much better than in SG.

Unfortunately, I cannot write in the papers. If I not careful, my stars on my shoulder may suddenly become moons.

 

In any case, to each their own because we have our own circle of competency and opportunities presented to everyone is not the same.

[Showster]

5 minutes ago, Ash2017 said:

Capital appreciation, cannot agree with you more. Most properties have gone up 2-4 times. Overseas properties at least for me are doing much better than in SG.

Unfortunately, I cannot write in the papers. If I not careful, my stars on my shoulder may suddenly become moons.

 

In any case, to each their own because we have our own circle of competency and opportunities presented to everyone is not the same.

Rental stable and good during bad times, price chiong during bad times. Where to find. 

My overseas properties also increased in good years but depreciation of currency plus no rental is real as well. 

[therock]

https://www.straitstimes.com/opinion/st-editorial/moving-to-ensure-retirement-adequacy

 

Quote

Monetising home equity in Singapore has been a longstanding challenge. Although average older home owners hold about 60 per cent of their total net wealth in housing equity, few households have been able to convert this into income, leading to most finding themselves asset-rich but cash-poor during their retirement. One bank here is piloting a new reverse mortgage product that could partially address this problem. DBS' Home Equity Income Loan is intended to enable Singaporeans and permanent residents aged 65 to 79 to borrow against their fully paid-up private residential properties to top up their Central Provident Fund (CPF) retirement accounts. Then through CPF Life - an annuity scheme launched in 2009 - they can receive guaranteed monthly payouts to supplement their retirement income for as long as they live. Options such as the Lease Buyback Scheme already exist to help those living in Housing Board flats supplement their retirement income.

Such schemes have been helpful as they enable people to age in place, and in familiar surroundings, while having the option of unlocking their housing equity in order to receive added payouts in their retirement years. The newly announced scheme by the bank for private property owners has been welcomed by the CPF Board, which hopes other banks will look into offering similar products that can complement the housing monetisation options offered by the Government to HDB flat owners. This, again, goes towards assuring individuals that they can enjoy a secure retirement.

Still, the targeted segment of the pilot scheme - private property owners who have fully paid up their residential mortgages - will be a fraction of the 20 per cent of households that own private properties. Many might also be among income groups who feel they already have substantial or adequate balances in their retirement accounts and have limited borrowing needs. Some may also prefer selling their properties, downsizing and withdrawing cash which they could invest as they please. If retirement adequacy is the goal, then allowing such a scheme and its features to be broadened to include HDB households - which make up around 80 per cent of home owners - could also be a more impactful step to consider

. This will no doubt require banks, which launch variations of similar products, to work with HDB on issues like the transfer of titles.

There are many factors to ponder, given that the issue in play is retirement adequacy and having a home. It is also equally important that people be better educated about retirement planning - not only with regard to reverse mortgages, but also bancassurance, privately offered annuities and other products. Schemes and products will attract varying levels of interest. But what remains of central importance is ensuring that the interests of the growing cohort of retirees are protected.

 

[Newbie26]

19 minutes ago, Showster said:

Rental stable and good during bad times, price chiong during bad times. Where to find. 

My overseas properties also increased in good years but depreciation of currency plus no rental is real as well. 

Yes, interestingly rental is still holding generally well probably coming from those staying here already

Price chiong so much during "Black Swan"

Cant imagine how much more it will go up when the Bulls are back in full force in next few years

Sub 1% interest is a huge factor

Yield is so low now with current peak prices, when interest creeps up, it will be a big problem for those who are over leveraged. 

 

[Newbie26]

On 8/18/2021 at 1:42 PM, Throttle2 said:

Exactly that.  
No point having most of your networth in a property.  If can cut into several smaller ones still not so bad. Easier to liquidatejust in case.  
contented can liao

the race is always against yourself

Good advice not to put all into one bag

Cut into several smaller ones not easy with current CMs

How to race against ownself??

 

[Showster]

16 minutes ago, Newbie26 said:

Yes, interestingly rental is still holding generally well probably coming from those staying here already

Price chiong so much during "Black Swan"

Cant imagine how much more it will go up when the Bulls are back in full force in next few years

Sub 1% interest is a huge factor

Yield is so low now with current peak prices, when interest creeps up, it will be a big problem for those who are over leveraged. 

 

When you reach the years when people really project real interest going from near 0 to 2% a few years time, then you will see the real FOMO. Not even near it yet... 

[Showster]

Regarding the yield, it will finally be easily viable for those who bought 5 years ago. Those 10 years ago no need to say.

As for those who bought today, they will need to think further for their yield. That’s why this is a long term story.

[Invigorated]

2 hours ago, Showster said:

10 years ago when psf was $1K you also said the fun was over. 5 years ago, psf was $1.2K you also said fun was over.

Anyway, it’s not pure fun. But amongst all assets to own, it’s really the best in my limited experience.

Sleep well, collect money, defended against inflation. Only ask to buy 1 more if at all possible.

If some of us have followed all that advice, may have lost a lot more than gained. Not forgetting the new CMs like extra absd that have made buying even more expensive.

Perhaps the picture tells a thousand words.. he has been smoking us all this time.

 

[therock]

Allow market forces for HDB?

https://www.straitstimes.com/opinion/forum/forum-bigger-flats-are-a-want-not-a-need