Outlook of Singapore Property Market
- Thread starter babe
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WHITENIGHT
Well-Known Member
Re: Outlook of Singapore Property Market
yeah property is a bit slow for the time being. but prices are not dropping. from my point of opinion now is the best time to buy yr property either for investment or for yr own stay. because when the prices start moving up either in nov 2007 or after chinese year 2008 u will have not much say as a buyer. experrience this in early 2007 when prices start moving upwards. the . deferred payment stopage is really to seive out the small punters with not much cash but want to make big bucks. i think this very good and healthyfor the property market. look at the last boom market about 10 years ago. it was only a very unrealistic market with buyers with no money coming in and trying to make money. also the hdb prices became so unrealistic and a lot of singaporean got burn in hdb market. our government have noticed this mistake and are taking steps to ensure the same mistakes does not happen again. overall at present u got to put in at least 20% in either cash or cpf and the balance on loan. second property cann only get 70% loan. this is the basic ruling from most of the banks in singapore. i think also control by the government. lastly our property prices are based on solid fundementals that is happening and going to happen in the next 5- 8 years. so it is a more realistic market at present.
yeah property is a bit slow for the time being. but prices are not dropping. from my point of opinion now is the best time to buy yr property either for investment or for yr own stay. because when the prices start moving up either in nov 2007 or after chinese year 2008 u will have not much say as a buyer. experrience this in early 2007 when prices start moving upwards. the . deferred payment stopage is really to seive out the small punters with not much cash but want to make big bucks. i think this very good and healthyfor the property market. look at the last boom market about 10 years ago. it was only a very unrealistic market with buyers with no money coming in and trying to make money. also the hdb prices became so unrealistic and a lot of singaporean got burn in hdb market. our government have noticed this mistake and are taking steps to ensure the same mistakes does not happen again. overall at present u got to put in at least 20% in either cash or cpf and the balance on loan. second property cann only get 70% loan. this is the basic ruling from most of the banks in singapore. i think also control by the government. lastly our property prices are based on solid fundementals that is happening and going to happen in the next 5- 8 years. so it is a more realistic market at present.
Re: Outlook of Singapore Property Market
if can wait, then wait till 2009, think >10,000 condo TOP..
deferred payment? maybe the buyer already broke or lost their job..
maybe alot try sell the price will crash but again only for those not prime area,
good area price will continue to grow.. alot rich pple have not migrate here yet
if can wait, then wait till 2009, think >10,000 condo TOP..
deferred payment? maybe the buyer already broke or lost their job..
maybe alot try sell the price will crash but again only for those not prime area,
good area price will continue to grow.. alot rich pple have not migrate here yet
MazzyMan
Well-Known Member
Re: Outlook of Singapore Property Market
Overall property prices have boomed since late last year right to 7th month. Its slowing down a little (certain districts) becoz of the market situation and annoucements by the government. Nevertheless activity is slow and steady. For prices to continue to climb, yes but will activity continue, i doubt it. Its gonna slow down drastically, IMO.
Commercial is going to shoot higher, thats for sure.
My fear...too many foreign buyers/ investors to the point that Sporeans have good to nothing to buy (private) and all average and below income earners can only think of is, HDB flats and probably have to go thru balloting.
Overall property prices have boomed since late last year right to 7th month. Its slowing down a little (certain districts) becoz of the market situation and annoucements by the government. Nevertheless activity is slow and steady. For prices to continue to climb, yes but will activity continue, i doubt it. Its gonna slow down drastically, IMO.
Commercial is going to shoot higher, thats for sure.
My fear...too many foreign buyers/ investors to the point that Sporeans have good to nothing to buy (private) and all average and below income earners can only think of is, HDB flats and probably have to go thru balloting.
Re: Outlook of Singapore Property Market
People in my line has this mantra. The longer the base, the harder the fall.
If we look at big brother the US, property prices has been on the rise for the last 14 years, with no real economic boom, some upside yes, but not boom. Debts to income ratio has been increase by 300%. This is a common sight, when property is booming. I buy a house worth 1 million. 2 days later, the same property hits 1.2 million, i go to the bank and take a loan for 200k more, and buy my 320 for basically free. Asset backing purchase. But has my ALM actually improve? No.
the second thign we need to note is, in US, I can buy a house, live it in for a year, and if i fail to pay my installment, the bank will repossess the house, give me a bad credit rating and evict me from the house. They cannot sue me for bankruptcy.
What i do after that is, to punt on another house, take up another loan and hope for appreciation. (the now infamous sub-prime). Now This has been a good scheme for the last 14 years, more so in the last 3 years. Which is good.
Now, housing number is bad, september came in jsut alright unexpectably. but august 35k house was remove. This is equal to me tell you, your basic pay I increase by $500, but your commission i permanently cut by $1000. Are you better off?
Consumer confidence are also coming off fast in the US.
And my last point. I cannot believe that while US and europe are not doing so well, China and the rest of Asia can be doing well. I might be wrong here. I have another analysis to support this view, which is OT.
But basically i am saying... if it matters at all... (my 2 cents worth) i don't think property prices will hold at this level for very long. historically, property cycle globally has a 5 year trend cycle. But this time round, in US it was 14 years. Applying my mantra, the longer the base, the harder the fall....
People in my line has this mantra. The longer the base, the harder the fall.
If we look at big brother the US, property prices has been on the rise for the last 14 years, with no real economic boom, some upside yes, but not boom. Debts to income ratio has been increase by 300%. This is a common sight, when property is booming. I buy a house worth 1 million. 2 days later, the same property hits 1.2 million, i go to the bank and take a loan for 200k more, and buy my 320 for basically free. Asset backing purchase. But has my ALM actually improve? No.
the second thign we need to note is, in US, I can buy a house, live it in for a year, and if i fail to pay my installment, the bank will repossess the house, give me a bad credit rating and evict me from the house. They cannot sue me for bankruptcy.
What i do after that is, to punt on another house, take up another loan and hope for appreciation. (the now infamous sub-prime). Now This has been a good scheme for the last 14 years, more so in the last 3 years. Which is good.
Now, housing number is bad, september came in jsut alright unexpectably. but august 35k house was remove. This is equal to me tell you, your basic pay I increase by $500, but your commission i permanently cut by $1000. Are you better off?
Consumer confidence are also coming off fast in the US.
And my last point. I cannot believe that while US and europe are not doing so well, China and the rest of Asia can be doing well. I might be wrong here. I have another analysis to support this view, which is OT.
But basically i am saying... if it matters at all... (my 2 cents worth) i don't think property prices will hold at this level for very long. historically, property cycle globally has a 5 year trend cycle. But this time round, in US it was 14 years. Applying my mantra, the longer the base, the harder the fall....
Suipalucsea
Well-Known Member
Re: Outlook of Singapore Property Market
Tricky question, but 3 things I can tell you based on experiences [all good so far, but mainly by luck.....and waiting long enough when things went bad.....]
1. Don't believe in cycles, trend lines, etc. It's like technical analysis in stocks, ie pure 100% guaranteed bullshit.
2. Don't think about buying if you don't have at least 30% in cash. You need a loan bigger than that = you can't afford it.
3. Unless you are a professional investor, pay off your mortgage just as fast as you can. Don't believe in the crap your bank will try to sell you about taking a maximum loan so that you can invest elsewhere and make more money.
Tricky question, but 3 things I can tell you based on experiences [all good so far, but mainly by luck.....and waiting long enough when things went bad.....]
1. Don't believe in cycles, trend lines, etc. It's like technical analysis in stocks, ie pure 100% guaranteed bullshit.
2. Don't think about buying if you don't have at least 30% in cash. You need a loan bigger than that = you can't afford it.
3. Unless you are a professional investor, pay off your mortgage just as fast as you can. Don't believe in the crap your bank will try to sell you about taking a maximum loan so that you can invest elsewhere and make more money.
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