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Thread: Your views on the current surging property market

  1. #61
    Senior Member melvin's Avatar
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    Default Re: Your views on the current surging property market

    Quote Originally Posted by NitroTech View Post
    You only worry about that if you are a fresh agent.... if you have been in the business for years, you will have savings for you to tahan.
    If u touch on savings meaning making a loss be it new or old agt.

  2. #62
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    Default Re: Your views on the current surging property market

    Quote Originally Posted by melvin View Post
    If u touch on savings meaning making a loss be it new or old agt.
    Can't look at it that way... see my last post.

  3. #63
    Moderator diver-hloc's Avatar
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    Default Re: Your views on the current surging property market

    Quote Originally Posted by scanner View Post
    And then when the market is booming.....
    Look at the recent crazy long queue to purchase those newly launch condo...

    Hahaha..... If the agent could make it / wait till market boom....

    Scuba & Father... For Life

  4. #64
    Moderator diver-hloc's Avatar
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    Default Re: Your views on the current surging property market

    Quote Originally Posted by NitroTech View Post
    Honestly, what those agents make in a year when the market is booming can last them till the next cycle....

    For YA 2008 (cos 2007 was the boom), my cousin had to seek advice from an audit firm about how to go about filing his tax. After all the possible deductions etc, his income tax payable was still a 6 digit figure.

    Go figure.

    That is true if you know how to save your $$$$..... just like there are ppl who spend more than they earn.... The old Chinese saying goes - "The More You Earn, The More You Spend".

    But not everyone lah....

    Scuba & Father... For Life

  5. #65
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    Default Re: Your views on the current surging property market

    Quote Originally Posted by diver-hloc View Post
    That is true if you know how to save your $$$$..... just like there are ppl who spend more than they earn.... The old Chinese saying goes - "The More You Earn, The More You Spend".

    But not everyone lah....
    So ultimately, all goes down to discipline.

  6. #66

    Default Re: Your views on the current surging property market

    Quote Originally Posted by NitroTech View Post
    why is the comm selling HDB shared by 3 parties? Co-broke most of the time between 2 parties.... Seller 2%, Buyer 1%.....

    so assuming the agent brings the buyers for the 3 deals..... he gets 1% of $400k * 3 = $12k

    So his income is like ($20k + $12k) x 0.6 = $19,200......


    PS: He sells 2 condos a month, not one

    The income look attractive. Can consider to change line ....

  7. #67

    Default Re: Your views on the current surging property market

    This is not something perculiar to property agents, same goes for Insurance agents, etc.

    Some of my school mates who are in the early 30s are already joining the million dollars club - Insurance, I mean. During good times, they made a lot which someone mentioned that it can last them for quite a while.

    You will make hell of $ if you were good. If not, do you think why so many people wanted to jump into the bandwagon. They are hoping to be one of the elites.

  8. #68
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    Default Re: Your views on the current surging property market

    Quote Originally Posted by Sion View Post
    I've heard some people rent in Singapore but buy house in Malaysia.

    After retirement take CPF out and live in Malaysia where things are cheaper.

    Good strategy or not?
    Sometimes you win. Sometimes you lose. Ever figure out why rich foreigners love to buy expensvie million dollar property in Singapore?
    Because we do not rip them off in their private property buys. "Singapore" in property buys usually mean "honourable".
    Though there are some exceptions like gold taps, race horse pets, $10,000 watch using other people's money, BMWs/penthouses, generally....as a country and a people, we have a good brand name.


    Something for Sion to read......

    (deleted)
    Last edited by ricohflex; 15th September 2009 at 04:33 AM.

  9. #69

    Default Re: Your views on the current surging property market

    Ah Mah said: "We are currently seeing signs of heightened speculative activity, although the level of speculation is not yet extreme.

    http://www.channelnewsasia.com/stori...004850/1/.html

    how about HDB units? brought by PR? can openingly rent out the room to their compatriot or not

  10. #70

    Default Re: Your views on the current surging property market

    this one, must cut and paste here. 200 over thousand, nearly 300K for a 3room in mature estate, and is called affordable.


    HDB caters to 8 out of 10 S'poreans to suit different budgets & needs
    By S.Ramesh, Channel NewsAsia | Posted: 14 September 2009 1806 hrs

    HDB flats
    SINGAPORE: The topic of the affordability of HDB flats was raised in Parliament on Monday during question time. In his reply, National Development Minister Mah Bow Tan has again emphasised that they remained affordable.

    He explained the public housing body caters to eight out of ten Singaporeans earning from S$1,500 a month to S$8,000 a month with different types of flats, needs and tastes.

    And the HDB is putting up Executive Condominium sites for sale in the confirmed list next year to offer more housing choices for the higher income group.

    However, Members of Parliament said the affordability of HDB flats is an issue of concern among their residents.

    Jessica Tan, GPC Chair, Finance and Trade and Industry and MP for East Coast GRC, said: "We know resale flats are rising in prices. How can HDB help to ensure that it stays affordable especially for the young couples who are looking to own their first flats."

    Mr Mah explained that affordability is about the price of the flat and the income levels of the families concerned. Also the type of flat they can buy would depend on ability to service the loan.

    Mr Mah said: "HDB has a flat for every budget. At every income level, there are flats available, there is a choice whether it is new or resale, whether it is in the mature estate or non-mature estate.

    "But there must be trade offs. The trade off is if you want to be in a mature estate, you have to look for a smaller flat. Therefore, when we say that HDB flats are affordable, we are not talking in abstract, we are talking in real terms."

    MPs added that another area of concern is the cash over valuation for flats.

    Dr Lim Wee Kiak, GPC Chair, Transport and MP for Sembawang GRC, said: "The question is that 'is the cash over valuation system still the best system that we have or can we think of alternative to this cash over valuation system?' Many people are CPF rich but cash poor when they want to buy a flat."

    Mr Mah explained that cash over valuation was not unique to HDB flats, but part and parcel of today's property transactions - whether private or public.

    He said: "Buyers can choose not to pay a cash over valuation. And in fact, the latest data shows that almost one third of transactions today are transacted at or below the valuation. So cash over valuation is not a forgone conclusion. It's not evident for all transactions."

    Mr Mah's advice to flat buyers is not to simply cough up the Cash Over Valuation when asked for by sellers or agents, but shop around and get the best deal for their preferred flat. - CNA/vm


    http://www.channelnewsasia.com/stori...004892/1/.html

  11. #71

    Default Re: Your views on the current surging property market

    Quote Originally Posted by dreaming View Post
    this one, must cut and paste here. 200 over thousand, nearly 300K for a 3room in mature estate, and is called affordable.
    Then get one in the non-mature estate lah! Ai pi ai qi...

  12. #72
    Senior Member melvin's Avatar
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    Default Re: Your views on the current surging property market

    Quote Originally Posted by dreaming View Post
    this one, must cut and paste here. 200 over thousand, nearly 300K for a 3room in mature estate, and is called affordable.


    HDB caters to 8 out of 10 S'poreans to suit different budgets & needs
    By S.Ramesh, Channel NewsAsia | Posted: 14 September 2009 1806 hrs

    HDB flats
    SINGAPORE: The topic of the affordability of HDB flats was raised in Parliament on Monday during question time. In his reply, National Development Minister Mah Bow Tan has again emphasised that they remained affordable.

    He explained the public housing body caters to eight out of ten Singaporeans earning from S$1,500 a month to S$8,000 a month with different types of flats, needs and tastes.

    And the HDB is putting up Executive Condominium sites for sale in the confirmed list next year to offer more housing choices for the higher income group.

    However, Members of Parliament said the affordability of HDB flats is an issue of concern among their residents.

    Jessica Tan, GPC Chair, Finance and Trade and Industry and MP for East Coast GRC, said: "We know resale flats are rising in prices. How can HDB help to ensure that it stays affordable especially for the young couples who are looking to own their first flats."

    Mr Mah explained that affordability is about the price of the flat and the income levels of the families concerned. Also the type of flat they can buy would depend on ability to service the loan.

    Mr Mah said: "HDB has a flat for every budget. At every income level, there are flats available, there is a choice whether it is new or resale, whether it is in the mature estate or non-mature estate.

    "But there must be trade offs. The trade off is if you want to be in a mature estate, you have to look for a smaller flat. Therefore, when we say that HDB flats are affordable, we are not talking in abstract, we are talking in real terms."

    MPs added that another area of concern is the cash over valuation for flats.

    Dr Lim Wee Kiak, GPC Chair, Transport and MP for Sembawang GRC, said: "The question is that 'is the cash over valuation system still the best system that we have or can we think of alternative to this cash over valuation system?' Many people are CPF rich but cash poor when they want to buy a flat."

    Mr Mah explained that cash over valuation was not unique to HDB flats, but part and parcel of today's property transactions - whether private or public.

    He said: "Buyers can choose not to pay a cash over valuation. And in fact, the latest data shows that almost one third of transactions today are transacted at or below the valuation. So cash over valuation is not a forgone conclusion. It's not evident for all transactions."

    Mr Mah's advice to flat buyers is not to simply cough up the Cash Over Valuation when asked for by sellers or agents, but shop around and get the best deal for their preferred flat. - CNA/vm


    http://www.channelnewsasia.com/stori...004892/1/.html

    Buyers can choose not pay with COV, sellers can also choose not to sell to those not willing to pay for COV!

    I dont think at this market there are ppl selling at Value or below Value!

    COV follows the flow of the market and sellers ask for them not Agts!

  13. #73
    Senior Member melvin's Avatar
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    Default Re: Your views on the current surging property market

    Quote Originally Posted by contaxable View Post
    What ah mah say is always right.
    No comments but what he say can affect the market!

  14. #74
    vince123123
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    Default Re: Your views on the current surging property market

    Today the news announced measures to curb speculation. However, one wonders whether those with vested interests have already creamed off the huge profits BEFORE these were implemented

  15. #75

    Default Re: Your views on the current surging property market

    IMO, those with real vested interest do not need such schemes to make $. They already have the capital cum the profit(s+s+s) from previous transactions to play this game. These schemes are a bonus and with or without bonus, they already have their gameplan.

  16. #76
    vince123123
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    Default Re: Your views on the current surging property market

    Hehe, try to read in between the lines on what I said

    Quote Originally Posted by zero o View Post
    IMO, those with real vested interest do not need such schemes to make $. They already have the capital cum the profit(s+s+s) from previous transactions to play this game. These schemes are a bonus and with or without bonus, they already have their gameplan.

  17. #77

    Default Re: Your views on the current surging property market

    Quote Originally Posted by vince123123 View Post
    Hehe, try to read in between the lines on what I said
    ummmmm ... where ? what ? hahahah
    ya .. those fellows, come rain, come shine, they will still make their $
    important thing is must have holding power

  18. #78
    vince123123
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    Default Re: Your views on the current surging property market

    Yup, can make even more money when you can determine when rain and shine will occur right?

    Quote Originally Posted by zero o View Post
    ummmmm ... where ? what ? hahahah
    ya .. those fellows, come rain, come shine, they will still make their $
    important thing is must have holding power

  19. #79

    Default Re: Your views on the current surging property market

    Quote Originally Posted by vince123123 View Post
    Yup, can make even more money when you can determine when rain and shine will occur right?
    makes sense ... but cannot show $, so still must drive around in citroens and volvos
    Last edited by zero o; 15th September 2009 at 11:11 AM.

  20. #80
    vince123123
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    Default Re: Your views on the current surging property market

    But some still "chuan bang" when they go for french cooking lessons! :P

    Quote Originally Posted by zero o View Post
    makes sense ... but cannot show $, so still must drive around in citroens and volvos

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