<TABLE id=post40965059 border=0 cellSpacing=0 cellPadding=3 width="100%" align=center itxtvisited="1"><TBODY itxtvisited="1"><TR itxtvisited="1"><TD class=thead itxtvisited="1">http://www.fuckwarezone.com.sg/img/forums/styles/hwz/statusicon/post_new.gif;pva44f078b509d0021 13-10-2009, 11:53 PM <!-- / status icon and date --></TD><TD class=thead align=right itxtvisited="1"> #1 </TD></TR><TR vAlign=top itxtvisited="1"><TD style="WIDTH: 175px" class=alt2 itxtvisited="1">jaguars123<SCRIPT type=text/javascript> vbmenu_register("postmenu_40965059", true); </SCRIPT>
Member
Join Date: Jun 2008
Posts: 100
</TD><TD id=td_post_40965059 class=alt1 itxtvisited="1"><!-- icon and title -->Property market about to crash
<HR SIZE=1 itxtvisited="1"><!-- / icon and title --><TABLE border=0 cellSpacing=0 cellPadding=2 width="100%" itxtvisited="1"><COLGROUP itxtvisited="1"><COL width=* itxtvisited="1"><TBODY itxtvisited="1"><TR itxtvisited="1"><TD vAlign=top itxtvisited="1"><!-- message --><!-- 17 -->Just over 3 mths & singapore's property market has gone from moderately quiet to super hot. Prices have gone up by huge amounts. This will have big consequences on our nation birth rates (already replacement ratio of 1.2) as this gives more young couple reasons to delay marriage or avoid children in ever expensive singapore. This could result in the need to bring more PR to Singapore, causing another round of hdb price increase!
Why has property gone up so fast? Low interest rates is obviously one factor. The other more important factor is the collusion between bankers & property developers. For example, the developer launch their prices at ever increasing price & the bank still accept this new benchmark even though it makes no sense. For example, one developer is going to launch a new project at $920psf along Yeo Chu Kang ("Wembley Residence") this coming Friday. The neighbourhood is not even close to this price (around $600-800 psf). The ones near the Kovan mrt is doing $850psf. Now, after this launch and if it is fully sold, the whole neighbourhood prices will go up! Just one project is enough to ignite the 'flames' and all these because the bankers to this project 'agree' to accept $920psf as the valuation. Bankers are at the forefront fueling speculation in property. Another example is the way they liberally giving loans to PR (i know 2 PRC ladies working in hair saloon buying condos with max loans). BTW, this developer has apparently pre-sold units before the launch as i can see many ads on propertyguru.com...wonder who is this privilege group as they can buy before launch & i wonder why are they selling so soon. Seems to me there are just too many collusions here!
Singapore is now in danger of going the USA way........remember US banks were aggressively giving loans to people with little income & that caused a crash there in 2007/2008 (the so called subprime mess).
I think the govt is likely to step in soon with measures to rein this unhealthy speculation (i heard many retirees are now stepping in the mkt to flip their buys). And this may cause a very large correction.
So speculators beware.
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http://hidefpc.blogspot.com/
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Member
Join Date: Jun 2008
Posts: 100
</TD><TD id=td_post_40965059 class=alt1 itxtvisited="1"><!-- icon and title -->Property market about to crash
<HR SIZE=1 itxtvisited="1"><!-- / icon and title --><TABLE border=0 cellSpacing=0 cellPadding=2 width="100%" itxtvisited="1"><COLGROUP itxtvisited="1"><COL width=* itxtvisited="1"><TBODY itxtvisited="1"><TR itxtvisited="1"><TD vAlign=top itxtvisited="1"><!-- message --><!-- 17 -->Just over 3 mths & singapore's property market has gone from moderately quiet to super hot. Prices have gone up by huge amounts. This will have big consequences on our nation birth rates (already replacement ratio of 1.2) as this gives more young couple reasons to delay marriage or avoid children in ever expensive singapore. This could result in the need to bring more PR to Singapore, causing another round of hdb price increase!
Why has property gone up so fast? Low interest rates is obviously one factor. The other more important factor is the collusion between bankers & property developers. For example, the developer launch their prices at ever increasing price & the bank still accept this new benchmark even though it makes no sense. For example, one developer is going to launch a new project at $920psf along Yeo Chu Kang ("Wembley Residence") this coming Friday. The neighbourhood is not even close to this price (around $600-800 psf). The ones near the Kovan mrt is doing $850psf. Now, after this launch and if it is fully sold, the whole neighbourhood prices will go up! Just one project is enough to ignite the 'flames' and all these because the bankers to this project 'agree' to accept $920psf as the valuation. Bankers are at the forefront fueling speculation in property. Another example is the way they liberally giving loans to PR (i know 2 PRC ladies working in hair saloon buying condos with max loans). BTW, this developer has apparently pre-sold units before the launch as i can see many ads on propertyguru.com...wonder who is this privilege group as they can buy before launch & i wonder why are they selling so soon. Seems to me there are just too many collusions here!
Singapore is now in danger of going the USA way........remember US banks were aggressively giving loans to people with little income & that caused a crash there in 2007/2008 (the so called subprime mess).
I think the govt is likely to step in soon with measures to rein this unhealthy speculation (i heard many retirees are now stepping in the mkt to flip their buys). And this may cause a very large correction.
So speculators beware.
<!-- / message --><!-- sig -->__________________
http://hidefpc.blogspot.com/
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