Really... how low is your brother looking at. I mean, suppose the Iskandar condo is sold 20% below market price he would consider?
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Puteri Harbour Community
- Thread starter Qube3
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Really... how low is your brother looking at. I mean, suppose the Iskandar condo is sold 20% below market price he would consider?
He would be bound by rm 1 million rules
My case is a bit different. I bought a flat back in 2008 so price back then was already quite high. For those of you who said HDB is good, I think you meant in "those days" at least 10 years or older where it is sold at very reasonable AFFORDABLE prices. Most who bought their large 5 room or Executive flats for say $300+k in early 2000 are now probably looking at $650-750k selling price, 100% profits.
For buyers like me. we are "screwed" under the rule of Lee Hsien Loong and his gang which restricted BTO flats released then, resale flats COV $100k, and yet they said HDB flats are still affordable. So while my flat price still managed to appreciate a bit, it is about as high as it can get. I doubt it will appreciate much in the next 5-8 years. There is little incentive for me to keep it. The new BTO flats are a big challenge to buyers like me who bought our flats high back in 2007-2012.
My agent's argument is that there is better price appreciation for condos. HDB flats prices are more stagnated as what you said, people will start to complain again if the prices soar like how they did 5-8 years ago.
Singaporeans are very lucky. HDB flats are actually more worth it to live in compared to private condos. The quality is also usually very high. From the recent pictures I've seen (Check out KSL's D Inspire, for eg), I dare to say HDB standard is much better than many new condos in JB!
I see the new condos in Singapore all come with huge balconies but the tiny bedrooms are for Mickey Mouse to sleep in. I wonder where to keep my collection of things. There is only enough comfortable space for a bed and wardrobe. Yet the price is so much more. There is not even space to keep broom, mop, pails, etc.
Why do you paint such a bad light for leasehold condos in SG? You already sold one at profit. Didn't you benefit from it? What did you not like about it?
I think you feel leasehold condos not worth getting anymore because they are too expensive already?
But somehow, I have a feeling the sky's the limit for condos in Singapore, be it leasehold or freehold. It's just a matter of when. Now the economy and market is slow. You look at how the government is running the country, everything is getting more and more expensive. The thing is, people will still pay! We can think it's expensive but there are people who will buy!
I say it's silly to buy cars in Singapore unless your work or essential lifestyle requires it. Many can't justify it but you still see people buying it! COE has constantly increased and won't fall much. Some even say it will increase next time. So to buy or not to buy cars? Just like to buy or not to buy condos?
Singaporeans are very stretchable financially.
Even expensive you don't see prices dropping significantly.
Check out the COE, it's pretty insane. But with the bulk of people working in civil service with yearly bonus and others in mainly financial services, Singaporeans tends to be quite well off financially
Even expensive you don't see prices dropping significantly.
Check out the COE, it's pretty insane. But with the bulk of people working in civil service with yearly bonus and others in mainly financial services, Singaporeans tends to be quite well off financially
I sold it during the period of rising prices, after that the prices have stagnated due to lessening lease, many buyers can just keep buying new ones with longer lease.
The cooling measures have really killed the market, so many Singaporeans are now turning away from property and spending more on cars and holidays.
If you have the cash, go for another SG property on firesale. The government needs to increase the skilled foreign workers number as current intake is not sustainable. The industries are not able to find sufficient skilled and service labour and we need a bigger tax base to look after our aging population. It could be done once our transport and medical infrastructure are up in 1-2 years' time.
High prices and uncertain future have made me turn away from SG, that's why my recent purchase in Melbourne for AUD670k I get a two bedder FH apartment with Italian finishes, Singapore $800k can barely get me a 4 room flat DBSS HDB in City View Boon Keng.
It makes sense if you are holding a PR or citizenship in Australia, and travel to Australia often. For foreigners, it is always risky. If I can get a DBSS at $800k in Boon Keng, I will go for it. Assuming a rental of $3k over 99 years, the Boon Keng flat will have a gross rental of about $3.5 mil, minus the forex and other risks.
Not in Medini.
Resale have to sell back to locals. We are discussing sgcount want to resell.
Yeah - might as well enjoy burning your cash. At least you have some good memories! Watching property de-value as your mortgage gets more expensive and annual rent decreases is no fun at all.
Thing is - there are no fire sales! I'm surprised people don't move lower to get their properties sold. It can take 3 years to drop 15%, or it could all be over in a year. Demand IS there, it's just price elastic. Until sellers reorient their expectations, the market will remain frozen. If I was selling, I'd market myself -5% under market to move. Otherwise, I'll be stuck with the mass-market when the overall sector eventually gets to that level and buyer price expectations are reset lower, again.
Thing is - there are no fire sales! I'm surprised people don't move lower to get their properties sold. It can take 3 years to drop 15%, or it could all be over in a year. Demand IS there, it's just price elastic. Until sellers reorient their expectations, the market will remain frozen. If I was selling, I'd market myself -5% under market to move. Otherwise, I'll be stuck with the mass-market when the overall sector eventually gets to that level and buyer price expectations are reset lower, again.
wtf?! That's not true...is it? I don't think this is the case...
Not very keen yet. But weighing my options against Medini. I feel SG properties are like this: After a commoner pays the deposit and monthly mortgage, he has to live in a frugal manner. But the potential upside in future is there. Maybe not so soon, but years later.
Iskandar is relatively cheap cheap, after one buys, still got spare cash to eat and eat, relax, enjoy, don't have to worry too much about monthly expenses. But whether the property value can go up or not is very questionable.
Ok, maybe I exaggerated the part on "the sky's the limit".
But I mean, like I said, who would have thought even HDB flats can hit S$800k to more than 1 million? If we all went back on a time machine to say 20 years ago, and you told people HDB flats are very valuable, will cost that kind of amount, I'm quite sure many would say you're crazy! But that is the reality today.So.... I think Singapore private property prices have reached a new high which many are finding hard to accept, especially when you bought a nice 3 bedroom condo in a good location at say S$700k only less than 10 years ago. The same new one today of the same size may cost S$1.7 million. Naturally it's very hard to accept or see any upside to it.
But I think the government has brought in many new rich immigrants. Today, what we feel is grossly expensive, tomorrow someone with that kind of money will buy up that condo for S$1.7 million. 5-10 years down the road, that condo may very well hit beyond S$2 million and we see yet another new norm. I feel this is the direction Singapore is heading. It's whether we believe in the successful "Singapore story" or not.
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But you can't compare like that cos it's in a different country. Boon Keng is in city fringe. Only a few minutes drive from CBD and many good areas. Flats in Toa Payoh/Bishan/Queenstown etc have also appreciated exponentially. These are all old towns. Years ago, people would have thought mad!!! Who would pay $900k for a flat? But people do want it.
That's life in Singapore. Prices have been going up up up....
Only well located hdb, partly due to higher and higher car prices. Suburb hdb are languishing.
FIRB rules, means many good properties not open to foreigners, also foreigners have to sell back to pr or locals only, the market is limited.
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