Singapore Property Scene Discussion

[Wt_know]

1 minute ago, Showster said:

To be honest, SG already factored in all the taxes to finance the Pioneer, Merdeka generation packages. Even if not direct, it’s going to be indirect financing. Not to mention the Covid measures.

The collection cannot be allowed to fall significantly. If the sale volume drops, tax per transaction is expected to increase even more, which means either higher tax rate or transaction value (price) will increase.

money dont grow on tree

money comes from land sales and taxes 😆

[Throttle2]

1 hour ago, Wind30 said:

Relax lah.. don't get too agitated. 

Covid budget is not targeted at property. I am sure it is not the intention of the government to prop up the property market.

TDSR is definitely not supporting the property market. ABSD also not supporting the market. 

The only thing that is outright property related support is the deferment of housing instalments which I am not sure if it is a big thing.

My point is that the biggest support for today's property market is the interest rate, which unfortunately the government does not control directly. If they are trying to prop up the market, the first thing will be to unroll all the cooling measures which they did not. It means the market is still pretty warm (low interest rates)

 

You took the word “Support” literally and only when applied directly to properties as you are a formulaic person.   Thats all i am going to say. 

In terms of the cooling measures, i tell you the market will drop if they unroll but I really a bit tired explaning these things to you so i request you think about it on your own. 

As for me, i believe that no private market needs govt intervention.  The market will swing the whip and feed the carrot as it deems fit .  It always has and it always will.  But now, its messed up with way too much govt intervention

 

 

Edited October 26, 2020 by Throttle2

[Fitmugen]

I recently bought a larger condo unit for stay and sold my investment properties. My sense is that the property market is moving in different directions for different segments. My observations:

- Resale is tough for condos in poor locations. If not near MRT, price sure lower than before Covid. If near MRT, depends on how many competing units in the same development.

- Big units are in demand. People start to realise newer condos are very small. I was looking at 4BRs and above (resale). Many viewers and some get snapped up very fast. My smaller investment properties had very few viewings and eventually sold at bad price for me. I think the mickey mouse 1-bedder resales should be jialat.

- New launches doing well. Singaporeans love new units, what can I say. 800m to MRT is considered near and people believe!

Overall, I think that while the economy is going down, there is also a counter-force where people with cash are looking to park their money in good value properties.

 

[kobayashiGT]

1 hour ago, Fitmugen said:

Overall, I think that while the economy is going down, there is also a counter-force where people with cash are looking to park their money in good value properties

Yeah. I strongly agree. One of my friend is betting on bitcoin during this covid period. 🤣

I don't have such risk appetite thou.

[Khng8]

1 hour ago, Throttle2 said:

You took the word “Support” literally and only when applied directly to properties as you are a formulaic person.   Thats all i am going to say. 

In terms of the cooling measures, i tell you the market will drop if they unroll but I really a bit tired explaning these things to you so i request you think about it on your own. 

As for me, i believe that no private market needs govt intervention.  The market will swing the whip and feed the carrot as it deems fit .  It always has and it always will.  But now, its messed up with way too much govt intervention

 

 

I get what you are saying. Thank you.

With all the CMs, one may be tempted to believe that the market is made safe by the G, plus the Covid support measures. So if you meet TDSR and can put down payment, mai tu liao.

But then again, if there is no bubble, what is there to pop? 

[Throttle2]

2 hours ago, Khng8 said:

I get what you are saying. Thank you.

With all the CMs, one may be tempted to believe that the market is made safe by the G, plus the Covid support measures. So if you meet TDSR and can put down payment, mai tu liao.

But then again, if there is no bubble, what is there to pop? 

Yes.  Also with the CMs, it gives the wrong impression that the economic situation is Still damn good and therefore need to put CMs in place when in essence it is not. 
so this increases FOMO buying.  
 

"Luxury " items work in opposite ways. The more difficult to get, the more people want to get.   But when it is very easy to get, the price drops becos there is no need to rush. 
just take its course

i wonder how many people pushed themselves to buy private properties by over taking the risk thinking that as long as can tong 4 yrs after ASSD hoysah make money liao. All this snowballs. 

I am a believer that a free market corrects itself and is the best way to run.   A heavily intervened market in such a way is unhealthy unpredictable and simply encourages FOMO behaviors and a false sense of security (that nothing bad will happen)  

This not to say that every CM is bad but just whacking CMs like that actually has reverse effects.  

now its f**ked becos the market is twisted and screwed.  Want to remove CM also dont know how to.  Luan liao

 

Edited October 26, 2020 by Throttle2

[Showster]

8 minutes ago, Throttle2 said:

Yes.  Also with the CMs, it gives the wrong impression that the economic situation is Still damn good and therefore need to put CMs in place when in essence it is not. 
so this increases FOMO buying.  
 

"Luxury " items work in opposite ways. The more difficult to get, the more people want to get.   But when it is very easy to get, the price drops becos there is no need to rush. 
just take its course

i wonder how many people pushed themselves to buy private properties by over taking the risk thinking that as long as can tong 4 yrs after ASSD hoysah make money liao. All this snowballs. 

I am a believer that a free market corrects itself and is the best way to run.   A heavily intervened market in such a way is unhealthy unpredictable and simply encourages FOMO behaviors and a false sense of security (that nothing bad will happen)  

This not to say that every CM is bad but just whacking CMs like that actually has reverse effects.  

now its f**ked becos the market is twisted and screwed.  Want to remove CM also dont know how to.  Luan liao

 

I support you. Let it be free market and let people be responsible for their own risks (gain or losses)!

But I disagree that Govt Luan Liao. Just as they wedged in measures at the right time to prevent runaway prices, they can also tweak them to maintain within a certain range.

Edited October 26, 2020 by Showster

[Khng8]

I nursed the thought that after GE, the floodgates will open.
Now not sure if we will still see population increase to take in this new supply.

[Wt_know]

3 minutes ago, Khng8 said:

I nursed the thought that after GE, the floodgates will open.
Now not sure if we will still see population increase to take in this new supply.

i always have this question in my mind

if population do not increase ... how to consume all the incoming supply?

there is simply no other way

unless the 300K to and fro jb-spore everyday all must live in spore to work   

Edited October 26, 2020 by Wt_know

[Enye]

ah gong just tightened the foreign worker quota

as a result my boss sending back 1 s pass worker who is currently renting an atas condo, by year end liao

you think the rental market still strong going forward?

😬

[ToyotaShuttle]

32 minutes ago, Enye said:

ah gong just tightened the foreign worker quota

as a result my boss sending back 1 s pass worker who is currently renting an atas condo, by year end liao

you think the rental market still strong going forward?

😬

S pass worker can afford atas condo?

[Wt_know]

13 minutes ago, ToyotaShuttle said:

S pass worker can afford atas condo?

why not. they are many FT from India, Philippine and PRC rented condo ... 

assuming $4K and above salary with no CPF deduction

mostly 2-3 pax rent 1 condo ... each chip in $1K

if PR or new citizen probably buy the $1.5M condo liao ...  

Edited October 26, 2020 by Wt_know

[Ltk]

I was discuss with my wife about our D9 FH investment unit recently,shall we sell and collect money "eat wind" when we retire or keep it for passive income and pass down to my 2 kids? Advise welcome but not half empty or half full hor  : P

 

[Enye]

14 minutes ago, ToyotaShuttle said:

S pass worker can afford atas condo?

atas ocr mickey mouse condo lor

who do you think is supporting the landlords in this segment of the property market?

😬

[Wt_know]

2 minutes ago, Enye said:

atas ocr mickey mouse condo lor

who do you think is supporting the landlords in this segment of the property market?

😬

aberthen ....

in hwz forum and FB all tekan FT

on the flipside all want FT to rent their atas condos ... LOL

Edited October 26, 2020 by Wt_know

[Showster]

1 hour ago, Enye said:

ah gong just tightened the foreign worker quota

as a result my boss sending back 1 s pass worker who is currently renting an atas condo, by year end liao

you think the rental market still strong going forward?

😬

Still very strong leh. My tenant went to rent another house more atas one, I got a replacement within a week. Again higher price than previous.

Ok, if Malaysians allowed to come in and out, maybe some segments of rental may suffer.

But looking at Covid progression and how both countries are managing, you can almost be certain they will be here for the next two years.

Maybe some people are more suited to be landlords than others???

Edited October 26, 2020 by Showster

[Fitmugen]

I don’t think you can have much faith that SG is a free market when it comes to property. There is simply too much at stake for the powerful people who have a massive stake in the SG property market.

there may be a correction but to say the market will crash is way off the mark. This is not the same as 1997 or 2008. Too much liquidity looking for place to park money.

But be wary of new launches that are overpriced. Those “iconic” launches the hype will die after they are more than 5 years old, like Sky Habitat, D’Leedon, Interlace. Pearl Bank and the Midtown Bugis comes to mind in this category. I would also avoid D9, D10. Beach Road area, southern waterfront to Keppel Bay seems more promising with the port relocation and better transport linkages both in terms of roads and MRT

[Showster]

5 minutes ago, Fitmugen said:

I don’t think you can have much faith that SG is a free market when it comes to property. There is simply too much at stake for the powerful people who have a massive stake in the SG property market.

there may be a correction but to say the market will crash is way off the mark. This is not the same as 1997 or 2008. Too much liquidity looking for place to park money.

But be wary of new launches that are overpriced. Those “iconic” launches the hype will die after they are more than 5 years old, like Sky Habitat, D’Leedon, Interlace. Pearl Bank and the Midtown Bugis comes to mind in this category. I would also avoid D9, D10. Beach Road area, southern waterfront to Keppel Bay seems more promising with the port relocation and better transport linkages both in terms of roads and MRT

But don’t forget that this was exactly what people bitched about Jurong Gateway Condo 5-7 years ago.

Now, it seems very cheap.

Not true? Then we wait another 5 years to see...