More property agents in SG quitting the industry to become......

[xebay11]

hi bro, i am in aussie land alrdy, down here, economy also soft. it's worst in western aust.
for time being, i just bite the bullet and scrape thru without a job.

Now without job, thought you managed to get loan and buy Oz property? You must be the most capable sinkie to get loan in Oz without a job, or are you bullshitting every one here?

 

[xebay11]

Spoke to a couple of agents that is doing those selling at the heartlands hawker centers, pushing out those condos, tough was the word.....understand most are surviving on the rental markets, as for buy and sell, chances very low was the word.....I guess it's pretty tough out there now for these agents.

Yah better to sell tissue paper nowadays than be a property agent, I saw property agent and tissue seller stand side by side in the MRT, tissue seller was doing more business than the property agent, every few minutes ker ching, ker ching sound, whereas nobody want to take the sales leaflet from the property agent.

 

[Froggy]

Don't understand why property agents quoting when property prices are still so high and resilient from the general economic downturn and there's no indication property market is going bust anytime.

 

[xebay11]

Don't understand why property agents quoting when property prices are still so high and resilient from the general economic downturn and there's no indication property market is going bust anytime.

Prices high and nobody is buying.

 

[yahoo55]

Too many property agents in Sinkieland, 20,000 agents is way too many considering the low volume of transactions. Many agents are probably not making enough to survive or are part-timers.

Times are bad when you get lots of nuisance SMS advs from agents on your mobile. Nowadays I receive lots of SMS advs from agents including more on foreign properties usually Malaysia, Thailand or Japan. Looking at my mobile now, in the last 2 days I received eight SMS from agents on a FH condo in Osaka Japan, three 99yr Sinkie condos in AMK, Toa Payoh and Yishun, two FH Sinkie commercial properties in Serangoon and Upper Thomson, one FH cluster housing in AMK and one EC in CCK.

 

[koala88]

Now without job, thought you managed to get loan and buy Oz property? You must be the most capable sinkie to get loan in Oz without a job, or are you bullshitting every one here?

Yes, you are right. No job no loan in Oz. I been through it all.

But then...

Maybe he pay cash... ???

 

[lifeafter41]

Don't understand why property agents quoting when property prices are still so high and resilient from the general economic downturn and there's no indication property market is going bust anytime.

Hi Froggy, resilience is the word.

While it remains to be seen with the general downturn playing out. My thought is that the current cycle is unlike the previous one, where cooling measures was put very much earlier in place, at 2013, with the TDSR, ABSD, etc to deal with the excesses.

And from what I understand from some friends that own multiple properties, this time round they do not over commit, in the sense as follows: Mr and Mrs A has:

1st property paid up
2nd property with loan at 60%, maybe now remaining at 40% or less, collecting rentals for the last couple of years. Paying it off not a problem for them, as both working professional.
3rd property with loan at 70%, TOP and just recently rented out.

The other Mr/Mrs B has 2 property, one for stay and one being rented out.
While Mr and Mrs C, even better, stay with the in laws and collect rental from their 2 condo

Unless, interest rate spike up a lot, very unlikely looking at the current situation or big crash of 30 to 50% or more, it seems the current investors has the ability to hold on and ride out the current downturn..........

 

[koala88]

Hi Froggy, resilience is the word.

While it remains to be seen with the general downturn playing out. My thought is that the current cycle is unlike the previous one, where cooling measures was put very much earlier in place, at 2013, with the TDSR, ABSD, etc to deal with the excesses.

And from what I understand from some friends that own multiple properties, this time round they do not over commit, in the sense as follows: Mr and Mrs A has:

1st property paid up
2nd property with loan at 60%, maybe now remaining at 40% or less, collecting rentals for the last couple of years. Paying it off not a problem for them, as both working professional.
3rd property with loan at 70%, TOP and just recently rented out.

The other Mr/Mrs B has 2 property, one for stay and one being rented out.
While Mr and Mrs C, even better, stay with the in laws and collect rental from their 2 condo

Unless, interest rate spike up a lot, very unlikely looking at the current situation or big crash of 30 to 50% or more, it seems the current investors has the ability to hold on and ride out the current downturn..........

Yes, resilience indeed is the word.

I tried very hard to buy a property in Sydney's Eastern Suburb during the GFC. There were very very few on the market.

At the same time, in Sydney's Outer West, there are quite a number of lelongs.

The reason : Those in the old established Eastern Suburb - most of them are fully paid. Additionally, the population profile of Eastern Suburb is that quite a number of them are retirees or towards the end of their career. They have no pressure to sell their properties. While the Outer West are the newer folks who bought their properties not that long ago and struggling to get up the social ladder with their career. The moment they got laid off, their time is almost finished.

Most of your friends (presumably coming to 50's given your nick - lifeafter41 in 2008) may be lucky to buy them sometime ago. But those in the late 20's or early 30's... will see how these group of "johnny come late" got affected. We never know and lets hope they are not too affected. Hope they can Tong Tong Tong all the way till the down cycle is over.

p/s in 1998, I know of some people who jumped down due to over investment in SG property market. Very sad.

 

[krafty]

Yes, you are right. No job no loan in Oz. I been through it all.

But then...

Maybe he pay cash... ???

Now without job, thought you managed to get loan and buy Oz property? You must be the most capable sinkie to get loan in Oz without a job, or are you bullshitting every one here?

dear bros, i dun want to explain anything. i feel there is no need to. i just have my means.

 

[PaulStanley]

dear bros, i dun want to explain anything. i feel there is no need to. i just have my means.

Oz? Wayang enough already?

 

[congo9]

I known a few property agents that turned anti PAP due to falling property prices.

Loser. What can I say?