doubt the price for HDB will drop.... they are well control by HDB themselve, if market bad, they will hold the price, when market good, the valuation price will goes up...
Casinos in the begining might have some 'impact' but down the road dun think they will be of much help although alot are punting on it look at Macau, LA their economy their everything .... and we will know if it is really going to help us on the whole.
Ok, let's not talk about the super high-end or high-end properties (Ardmore area, Orchard area, etc).
Take a look at the mass market projects and just look at how many projects are going to T.O.P in the next 3 years (especially 2011,2012). By then, those who bought these projects will have to sell away their HDB flat (i'm assuming most of them are HDB upgraders)..... There will be a flood of resale HDBs in the market.....
They will either sell their HDB at a lower price or in the worst case scenario, not be able to sell at all. What happens then? Sell the new flat instead...... If the economy is good at that point in time then everything is fine..... What if we are in another recession then?
I dread to think what will happen to those who took the full 80% financing......
But i've seen flats in unpopular areas being put on the market for as long as a year and still unsold... Worrying....
The current HDB pricing is crazy like what you guys say. But what can we do? We still buy if we need to. And Gahment also charge higher now. The cap of 8k to buy HDB is crazy. tell me how is 8k gona comfortably support a HDB selling at 700k-resale? 8k works for brand new straight from Gahment but what what abt those resale? and the stupid DBSS unit some are selling at 400-500k. gosh. how are the young couples gonna afford. in the end most take money from papa mama.
as much as situation is bad...we can see most singaporeans are quite cash rich as seen from the recent sales figures. i seriously dun think price will ever drop by a big margin to become more affordable. the FTs are already slowly colonising in some areas.
all we can do is work hard and work harder to buy better places and be prudent in our spending. I was rationalising with my wife then abt where to buy. we din have a car then. we decided that if we are gonna stay in those god forsaken land....we will get a car or pump the money from the car into housing and buy somewhere better. in the end we choose the latter. i have doubts abt earning or profitting from this in future. but at least i know my defensive plan is the better areas shld be able to fetch me some rentals to cover the mortgage so won't be too bad in the end.
our market is no longer control by us.....the rich FTs pump the private property out of control...the average FTs pump the HDB side and jack up prices in the cheaper areas...and SGP who wants to avoid staying near too many FTs all want to buy the better areas and price up again....who is the real benefitors from this vicious cycle? the last time i check..even a brand new unit from HDB at queenstown is selling half a million. i am damn sure..so sure.. that this is what we call cheap and affordable housing build for us....at this point..i almost feel like singing 'stand up for singapore'
Heh, this brings to mind an old stock broker's saying: If the taxi drivers and housewives are talking about cashing in, it's time to get out!
really would like to comment on this issue with some personal comments
No hard feelings to any one...
I'v been a property agent for the last 1 year.
I have to welcome any one of you who believe its an easy job to try it out..
some 1 commented " bring client go view a few hse - commission 3k ~ 4k "
Life is always greener on the other side, TRUST ME.. its hard work and more hard work & still MORE hard work involve, in sales . insurance, property etc .. agents always look like the bad person. i do agreed that there are some black sheeps as with any job..
but most of us are nothing but same as each other . hard working guys just trying to make a living ~ Week ends burned endless hours of OT . etc. etc.
AS PER TOPIC...
only 1 word explains everything..
our own greed,. : Buyers complain endlessly about High Prices , Sellers complain about Not Good enough...
Here. most who complain are looking to buy, any sellers here complaining prices are too high ?? can i see your hands ??
Gents, I have always believe , HOME is where the heart is.. u dont need a BIg house to have a happy family who loves you... be contended and live within your means...
3 room or 4 room... its your famly home that matters and not your size of your house..
if you cant afford it. there will always be a place in SG u can.. instead of 5 mins from MRT.. take 15mins from MRT.... dont compare , and get on with it... life goes on.. as per car prices, COE etc.. if you cant afford it, there's always Cherry, proton , etc.. no body ask u buy HOnda..
once again.. this is a personal 2cents not as a property agent but as some one who has studied the Subject and is giving a very personal view..
no offence to any one !
Should it be the HDB suppliers? The fact is, they purposely control the supplies and pricing to the market, causing a surge in demand for the resale flat.
Newly weds couple or couple plan to wed is having hard time to get a new/resale HDB flat without burning a BIG hole in their pocket. Maybe a 30 years loan just to get HDB flat which in the end doesn't belong to you.....
Mind you, HDB flat doesn't really belong to you. You only "rent" from the suppliers...
Err... the $8k cap is only when buying HDB is provided u r taking a subsidise rate from the HDB ie HDB loan and Housing Grant. If you are using bank loan etc.. No Cap limits!
DBSS prices are determine by the private developers and they range from $400k-$700k depending on location.
Recent fiasco in property market is also caused by wealth made from stock market, currency, oil, gold, etc coupled with relative low interest rate.
Recent rallies in stock market, currency, oil, gold, etc have made quite no. of people richer, so these people are looking into buying properties, either for upgarding or investment, etc.
When your wallets are full of cash, you will definitely want to buy some things, like car, house, luxury goods, etc.
For example, my friend's mum made at least $30,000 from investment in Aust$ when it plunged below S$1 a few months ago. That was a golden opportunity to invest in A$. Same stories go for Korean Won and British Pound. All rallied within a few months.
Thanks for all the inputs folks! I've learnt a bit more from everyone's contributions.
Because of my job,I'm required to go to alot of condo showrooms n i'm still surprised everytime I step into one because of the tremendous turn out these days like macam got half price .If the developers charge for thie brochures,they will make a tonne!
A friend told me alot of buyers are young couples who are in their 20's ,new PR's ,investors and really cash rich Indonesians .Err od course this is nothing new but it Seem like the trend these days is die -die must buy condos even for those young couples who just started their careers.Really worrying for them! Some of my young colleagues looking for a new home don't even want to consider checking out for HDB's or even DBBS flats!
Agree.... as a Home owner... I won't complaint my $112K 4Room is now worth $300K (last I check).
The sad fact is that S'pore being a small country with limited land, housing could never be dirty cheap. I just find it kind of strange that most here are talking about buying RESALE HDB at good location.... then complaining that the flats are $$$$. I brought my house at Woodlands 10years ago when Wondlands was still consider Ulu.... even when the MRT is already running there (I used to live in AMK).
As a 1st time buyer.... I could chose a newly built (but smaller, 90 sqM only) 4Room for $112K in Woodlands.... or $200K+ for a RESALE 3Room in Ang Mo Kio. So, needless to said.... Bigger floor space and cheaper price won the day.
Like some fellows ClubSNAP-er saids.... If you got $$$, feel free to buy wherever you want. But if you don't have enough $$$$.... then you will have to make do with what you have (smaller unit, further location from work, more Ulu location... etc).
My only advise is don't buy beyond your means.... I have seen enough Colleague buying and selling their House to get cash when there is a housing market boom... now end up with a expensive house worth only 3/4 of the price paid. And having to pay a monthly loan of $1.5K in their mid 40s....
Scuba & Father... For Life