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Private Property prices......still up or down? Part II

RadX

By RadX,
in Property Buzz

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Wt_know

Wt_know

Supersonic
(edited)

can talk until cows come home

but sg property price is rock hard standing

no 3% y-o-y increase no talk

in fact mass market $1M+ new property rise > 3% in absolute value

Edited by Wt_know
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Showster

Showster

Twincharged

can talk until cows come home

but sg property price is rock hard standing

no 3% y-o-y increase no talk

in fact mass market $1M+ new property rise > 3% in absolute value

Another possibility is size can decrease by 3%, or remove carparks and other common space for facilities by 3% so internal space stays the same.

 

The common space removal while conserving internal unit space will still be in place until all currently approved units are sold out. This will take about 3 -4 years max. Thereafter, common space will be forced to increase together with price with the new set of rulings, taking some space from unit balconies that are made to decrease, and also carpark numbers which would continue to drop.

 

There should also be very few land sales for developers while land constraints kick in till about 2030 when some of the mega sites currently in use for other purposes such as Paya Lebar airbase and port at Pasir Panjang are made available.

 

It certainly has to be long term to investment to realise the potential.

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Showster

Showster

Twincharged
(edited)

There is a very nice exclusive section regarding SG property ideas in today’s Straitstimes. Do grab a copy, read some of the views, but interpret them with your own pinch of salts.

Edited by Showster
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Victor68

Victor68

Turbocharged

I hope singapore will never be like hong kong for housing. I can agree with less balcony and car park spaces but living space should not further reduce. There should be min space for common areas per sq ft of sold.

 

Got wealth no life, i wonder what is luxury living.

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Showster

Showster

Twincharged

I hope singapore will never be like hong kong for housing. I can agree with less balcony and car park spaces but living space should not further reduce. There should be min space for common areas per sq ft of sold.

 

Got wealth no life, i wonder what is luxury living.

The arrangement is fair to developers who bought based on the pre-existing rules previously.

 

From my previous post:

 

“Thereafter (from 2019 approved developments selling from 2020+ onwards), common space will be forced to increase together with price (friendly 2-3% targeted) with the new set of rulings, taking some space from unit balconies that are made to decrease, and also carpark numbers which would continue to drop.”

 

Living space will increase, taking the existing space from carpark and balconies. Whether they are better buys compared to existing ones will depend on one’s own intentions of use.

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Victor68

Victor68

Turbocharged

Well, they have changing their rules over the years giving various incentives to encourage ideas that fit into what they want. Developers always out smart them of course with the help of the same people who came out with the new tricks.

 

We must ask ourselves if our new buildings are better or worst off? For me, i am very sad to see aquariums buikdings with not characters repeated everywhere. Buildings with features that cannot be maintained. Are these renowned architects from foreign land good or we are just blindly following? Time to wake up and be on our own.

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Wind30

Wind30

Turbocharged

Well, they have changing their rules over the years giving various incentives to encourage ideas that fit into what they want. Developers always out smart them of course with the help of the same people who came out with the new tricks.

 

We must ask ourselves if our new buildings are better or worst off? For me, i am very sad to see aquariums buikdings with not characters repeated everywhere. Buildings with features that cannot be maintained. Are these renowned architects from foreign land good or we are just blindly following? Time to wake up and be on our own.

Yes. You just have to visit any of the new development. All their bedrooms are the same size and design, a small rectangle with a sliding wardrobe on the side with the door plus a double bed.

 

That is why I buy resale. But I understand the rationale for the min size bedroom. I see the new developments 2 bedders 6xx sq ft are renting out cheaper than the old development 2 bedders 9xx sq ft.

 

I am not sure if tenants appreciates a bigger bedroom so it is easier for the new developments to rent out as their price are cheaper plus newer.

 

I really think u have to do up a bit to utilise the added space in your bedroom like putting in a study table, etc.

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Victor68

Victor68

Turbocharged

I am not sure oversea. In singapore we know people like branding. Instead of HDB, i am staying in condo. So, if we are selling psf, smaller units are more affordable. Of course if demand is high, you can sell higher psf than bigger units. Developers would like to build the entire development this way. So, do we wish to see this trend and our next generations living in condition like HK? For me a HDB 3 room flat is healthier living than a clamp 400 sq ft apartment especially with kids.

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Showster

Showster

Twincharged

I am not sure oversea. In singapore we know people like branding. Instead of HDB, i am staying in condo. So, if we are selling psf, smaller units are more affordable. Of course if demand is high, you can sell higher psf than bigger units. Developers would like to build the entire development this way. So, do we wish to see this trend and our next generations living in condition like HK? For me a HDB 3 room flat is healthier living than a clamp 400 sq ft apartment especially with kids.

Govt already reversed this trend (slightly) for future developments.

 

Prices will not be further pulled upwards because of diminishing sizes. Sizes will be prevented from shrinking further.

 

Common spaces will dip slightly from absorbing the carpark space and the spaces between blocks. That seems to be the trend for new HDBs as well. Taller, nearer, but not smaller.

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Mkl22

Mkl22

Twincharged

Loan taken - caveat filed

And vice versa

Not necessary to file caveat. Mine under loan but there was no caveat filed. Never knew why.
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Alfc

Alfc

5th Gear

I am not sure oversea. In singapore we know people like branding. Instead of HDB, i am staying in condo. So, if we are selling psf, smaller units are more affordable. Of course if demand is high, you can sell higher psf than bigger units. Developers would like to build the entire development this way. So, do we wish to see this trend and our next generations living in condition like HK? For me a HDB 3 room flat is healthier living than a clamp 400 sq ft apartment especially with kids.

 

I also hope people stop deceiving themselves that small size living is ok just to get the most affordable condo.

Many of my Hong Konger colleagues really lament the size of their living space. They hang out outside late not because they like to (lifestyle) but it gives them more fresh air to stay outside then to go home to a cubicle.

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Volvobrick

Volvobrick

Supersonic

I also hope people stop deceiving themselves that small size living is ok just to get the most affordable condo.

Many of my Hong Konger colleagues really lament the size of their living space. They hang out outside late not because they like to (lifestyle) but it gives them more fresh air to stay outside then to go home to a cubicle.

阿Q精神....
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Showster

Showster

Twincharged

I also hope people stop deceiving themselves that small size living is ok just to get the most affordable condo.

Many of my Hong Konger colleagues really lament the size of their living space. They hang out outside late not because they like to (lifestyle) but it gives them more fresh air to stay outside then to go home to a cubicle.

Average sizes are just about to get bigger few years down the road.

 

But likely to be out of reach to even more by the time these are on the market.

 

www.businesstimes.com.sg/real-estate/new-ura-rules-for-bigger-unit-sizes-may-reduce-affordability-for-retirees-and%3famp

 

For those who are sure they do not need the estate common space, the balcony, and the carpark lot (or not all the time), especially if they are located very near transport nodes, these choices might be viable options.

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Victor68

Victor68

Turbocharged

I also hope people stop deceiving themselves that small size living is ok just to get the most affordable condo.

Many of my Hong Konger colleagues really lament the size of their living space. They hang out outside late not because they like to (lifestyle) but it gives them more fresh air to stay outside then to go home to a cubicle.

This will be very sad if we ended thus way.
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