View Full Version : Have You Missed The Property Boat?
I have. I have missed many, many boats. If I line them all up, can start a shipping business.
Here are a few of those boats that I remember missing:
1988 - Farrer Court cost about 300K only so me and my friend decided to share and buy one instead of renting there. We could not buy on our own as we got not enough money. Just graduated and started working but not enough CPF, no savings, got to pay off tuition loan. My friend suddenly chicken out so I cannot buy. When it comes to property investment, many talk a lot but few dare to buy, even when prices crashed. Farrer Court price went up to a million in 1996. When this boat came back in 1998, I jumped in even when my father told me not to buy, as I just bought a 2 br condo and a 3R HDB flat.
1992 - Viewed Ivory Heights, high floor, can see CK Tang from the unit on a clear day. Owner asking 300K. Can buy but did not buy because it cost 100K more than a HDB executive flat in Jurong.
1998 - Leedon Heights, ground floor unit, beautifully renovated, agent says owner will sell for 680K. I offered 660K. No deal. Missed this boat which was later enblocked for more than 2 million.
2009 - Chancery Court, 4th floor, original condition but cheap, only 1.08 million. I ask my friend and she said wait for price to fall further. I offered 1 million and got nothing. I should never have listened to a woman when it comes to property. They always look for bargains.
There are many more, I just list the big ones.
What about you? Have you missed any boats? Care to share, so that we may be wiser, the next time the boat drift back as the tide changes.
Caspian
#13-16 4 bedroom 1389sqft was $809100
#03-16 4 bedroom 1389sqft was $778500
when i visited the showflat in mar 09, never buy. :o
phantom_opera
24-08-12, 15:27
I missed Kovan Residences in 2009 ... :banghead: ended up buying another project with lower return ... and still holding bullets for another one ... waiting and waiting and waiting :doh: I should have bought CCR also in 2010 when 1.4m can still buy a decent 2br :banghead: I did not know Bernanke is so powerful that he can follow up with QE2 and Op Twist after QE1 to sustain the recovery
Now I have learnt, don't underestimate US Fed .... just trust the market
Fed's Balance Sheet Swells To A Massive $2.9T On Treasury Buys
Quite a few.. but one I could remember was The Sail when it was initial launched at 8xx psf for a 6xx sf unit.. bay facing somemore..:banghead:
Wanted to buy.. but fund was not enough..
Regulators
24-08-12, 15:33
i missed the sail
I also missed the Sail in early 2009. Viewed a few units but never buy.
buttercarp
24-08-12, 15:40
I have. I have missed many, many boats. If I line them all up, can start a shipping business.
Here are a few of those boats that I remember missing:
...........I should never have listened to a woman when it comes to property. They always look for bargains.
There are many more, I just list the big ones.
What about you? Have you missed any boats? Care to share, so that we may be wiser, the next time the boat drift back as the tide changes.
I missed the boat in 2009- Luxus Hills.
Actually it was not my fault.
The agent did not want to accept my cheque.
I could have bought it, had I persisted and gone to SLA.
It is true.
When it comes to property, most of the time, at least for myself,woman say one thing, you do another.
This time, I am glad I listened to my hubby and my son.
Actually my daughter also wanted the place.... so kudos to her too!
Final decision was left to me.
phantom_opera
24-08-12, 15:45
wah ... why Luxus Hill so hot, Rysk kept mentioning it against Ah B?? You guys must have big family ;)
I missed the boat in 2009- Luxus Hills.
Actually it was not my fault.
The agent did not want to accept my cheque.
I could have bought it, had I persisted and gone to SLA.
It is true.
When it comes to property, most of the time, at least for myself,woman say one thing, you do another.
This time, I am glad I listened to my hubby and my son.
Actually my daughter also wanted the place.... so kudos to her too!
Final decision was left to me.
Had I brought my wife with me to view resale properties, I would be homeless today. See one hairline crack on the wall, don't want to buy!
phantom_opera
24-08-12, 15:57
Had I brought my wife with me to view resale properties, I would be homeless today. See one hairline crack on the wall, don't want to buy!
this must be the most important factor why showflat sales always win
Brother, I am not alone!! Thank you....
I have learnt (the hard way) how to turn my wife's view from a liability to an asset. Just do the opposite of what she says esp when it's most strong emotional. So her "good-bye" is 'good buy' and her 'must buy' is 'should sell'.
Had I brought my wife with me to view resale properties, I would be homeless today. See one hairline crack on the wall, don't want to buy!
I should never have listened to a woman when it comes to property. They always look for bargains.
recent memory....2009...
the bayshore 2bedder--$610k....4bedder--$920k
Kew 3 story terrace...$880k
Opera Estate...2000sqft terrace original cond..$1.2m
Cry until NO MORE TEARS liao...:doh::doh::doh:
What to do life goes on...
all because i listen to people from "THEY SAY" agency....BECAUSE THEY SAY...next year 2010 market will drop further...hai ya...THOSE IDIOTS from "THEY SAY" agency....:banghead::banghead::banghead:
June 2006 paid 20% of 535000 DPS.
Need only to paid 5 %, missed 3 BANK, 3 million.
2010 try to cash out to buy WaterBANK, Bank say must wait till CSC. miss another BANK.
Total missed 4 BANK.
Eat 2 Cheery and paid 100k for 2 PC, rental return 100k, yrs later equal 2 PC 20% and 40% free.
https://www.dropbox.com/s/lxpy4p9haqhhmu9/2012-08-23%2018.03.36.jpg
https://fbcdn-sphotos-b-a.akamaihd.net/hphotos-ak-snc7/s720x720/402908_3862724999533_180024172_n.jpg
https://fbcdn-sphotos-b-a.akamaihd.net/hphotos-ak-prn1/549660_3758959325456_1268772021_n.jpg
https://fbcdn-sphotos-c-a.akamaihd.net/hphotos-ak-ash4/s720x720/430256_3862722079460_940190051_n.jpg
If you have missed several boats, it means the boat will return. Just wait for the next one but you better buy the ticket and board the boat when it comes back!
Just that the cabins on the boats gets smaller and smaller and the price of the tickets gets higher and higher.
opportunities are plenty, they only problem is whether you have the money to buy when you see something nice.
phantom_opera
24-08-12, 17:37
boat might capsize if too crowded and too expensive :scared-4:
some may die because dun know how to swim :scared-3:
Chillyred888
24-08-12, 18:14
boat might capsize if too crowded and too expensive :scared-4:
some may die because dun know how to swim :scared-3:
Your Boat may capsize due to bad weather.
Dont forget,In a perfect storm, there are Always Winners & losers
waw, just realised that Tampines 3rm HDB latest transaction, are...
269 Tampines St 21, 70sqm, $422,000.
267 Tampines St 21, 81sqm, $416,000.
these are 1983/84 build flats, did they anyone miss the property boat earlier, or these buyers are those earn enough and downgrade?
Had I brought my wife with me to view resale properties, I would be homeless today. See one hairline crack on the wall, don't want to buy!
hahahaha! :D
phantom_opera
24-08-12, 18:29
Singapore currently has a population of 300,000 (352k in 2011) Singaporeans aged over 65 (>9% of Singaporean population); by 2030 this figure is estimated to be three times more (900,000).
The increase in the number of elderly citizens does not necessarily mean that there will be an aging population. If Singapore wants keep the same 2011 elderly ratio, though, the population would have to increase three-fold by 2030—an increase of 6.5 million citizens in the next nineteen years or an average of roughly 340,000 new citizens a year.
According to the Department of Statistics’ Population Trends 2011 for Singapore, citizens (including immigrant citizens) grew by 0.8% or by 26,500 people in 2011. Foreigners increased by 59,100. While large for Singapore’s size, it’s nowhere near the 340,000 citizens needed per year to avoid an aging population (assuming ratio to be kept at 9%). Thus, immigration as a tool to offset aging can merely only delay and not avoid an aging population. Due to rising political costs of public backlash and the sheer size of the country, even its ability as a tool to delay is limited and diminishes with time. Its benefits also in no way outweigh other countries that can deal with aging populations more appropriately (i.e. they are larger, can accommodate greater immigrants, and have domestic populations that are rapidly growing).
=> Watch out, the boat might capsize after 2020 :scared-1:
buttercarp
24-08-12, 18:46
=> Watch out, the boat might capsize after 2020 :scared-1:
I think if capsized also nevermind cos at that time technology will be so advanced that the people may not drown so easily.
Even if capsize, unlikely to sink right to the bottom.
recent memory....2009...
the bayshore 2bedder--$610k....4bedder--$920k
Kew 3 story terrace...$880k
Opera Estate...2000sqft terrace original cond..$1.2m
Cry until NO MORE TEARS liao...:doh::doh::doh:
What to do life goes on...
all because i listen to people from "THEY SAY" agency....BECAUSE THEY SAY...next year 2010 market will drop further...hai ya...THOSE IDIOTS from "THEY SAY" agency....:banghead::banghead::banghead:
Actually , it can go terribly wrong
http://smartpropertybuyer.blogspot.sg/2008/06/buy-property-to-hedge-against-inflation.html
waw, just realised that Tampines 3rm HDB latest transaction, are...
269 Tampines St 21, 70sqm, $422,000.
267 Tampines St 21, 81sqm, $416,000.
these are 1983/84 build flats, did they anyone miss the property boat earlier, or these buyers are those earn enough and downgrade?
so what is the strategy to take.?
Buy and own and buy another used one and contra?
During my time when i was selling, keep hearing fairy tales from quotes such as
- interested in yr place provided I sell my HDB, then I got money to buy
Should someone over levarge to buy a private ?
Regulators
24-08-12, 19:04
Agent mms me the chart, one dusun almost fully sold, like that how to have price correction? :doh:
My 1st ppty that I was eyeing was in Tanglin, then the Kentish Court, followed by Bukit Timah area and lastly I think the ppty name is Riverview (near People's Park), all in Yr 199x. In the end, all also never buy, because my husband is a conservative type of people, don't dare to take much risk in ppty, instead we bought EC in OCR area (that was I insisted on it, if not, also didn't have).... and the most regret move was we sold away our 5 room Bishan flat for only $400K about >10 yrs ago and still need to pay govt 25% levy (which was about $100k), sign........ :scared-3:
so what is the strategy to take.?
Buy and own and buy another used one and contra?
During my time when i was selling, keep hearing fairy tales from quotes such as
- interested in yr place provided I sell my HDB, then I got money to buy
Should someone over levarge to buy a private ?
Buy within your means.
e.g.
In 2006 I have 100k cash and my 5 room have an outstanding loan of 100k.
I brought a 2 Bedroom with the 100k under DPS instead of paying down the loan and intend to sell my 5 room upon TOP.
Thanks to Ben, QE1, QE2, Operation Twister and now QE3 on the way I don't have to sell my 5 room and get to buy another one.
Over leverage depend on a lot of factors and depend on individual.
wah ... why Luxus Hill so hot, Rysk kept mentioning it against Ah B?? You guys must have big family ;)
Luxus Hills was a "landed" boat which I had missed.. so I Sibeh tulan liao!! :simmering:
Moreover while seeing the price keep going UP UP UP since 2009.. came a MISSED THE BOAT EXPERT cum YOUNG KOK cum INEXPERIENCE MR SMARIAN & DAVID LIM (aka MR B) keep saying is down down down.. down from 2008 1.6-mil down till end last year 2.4-mil.. still saying down down down.. makes me even more tulan!! :simmering: :simmering:
http://www.sg-house.com/classifieds/buy-and-sell-private-apartment-condominium/1243648-price-decreasing-for-singapore-property.html
When KING OF ALL FAILURE DAVID LIM act blur change nick to MR B & started his own USELESS thread ".. price is coming down fast" last Oct... I continue to hamtam him... hamtam from Luxus Hills 2.4-mil... hamtam till now 2.9-mil lor ..
What to do.. I very boring mah!! :D
http://forums.condosingapore.com/showthread.php?t=12285
Buy within your means.
e.g.
In 2006 I have 100k cash and my 5 room have an outstanding loan of 100k.
I brought a 2 Bedroom with the 100k under DPS instead of paying down the loan and intend to sell my 5 room upon TOP.
Thanks to Ben, QE1, QE2, Operation Twister and now QE3 on the way I don't have to sell my 5 room and get to buy another one.
Over leverage depend on a lot of factors and depend on individual.
thanks. I have small risk appertite.
Good times in Singapore may not last forever. The boat will always come back to pick up more people. Juz save up harder now n wait patiently for e next boat.
Good times in Singapore may not last forever. The boat will always come back to pick up more people. Juz save up harder now n wait patiently for e next boat.
problem is the boat from jet boat starting to be bum boat to sampang. Very soon will becomme life rift
problem is the boat from jet boat starting to be bum boat to sampang. Very soon will becomme life rift
After miss the life rift... next one come back will be life buoy lor.. :D
After miss the life rift... next one come back will be life buoy lor.. :D
Lol live and let live.
My neighbor was like that as well waiting for the never appearing correction to come
Fortunately, my wife is supportive and never stop me. Otherwise, I would have missed 3 boats. May be I did not let her have a chance to think on these 3 occasions. I saw the place on my own and bring her the next day and close the deal the following day. Never regretted on our decisions since the day we have bought those properties.
Brother, I am not alone!! Thank you....
I have learnt (the hard way) how to turn my wife's view from a liability to an asset. Just do the opposite of what she says esp when it's most strong emotional. So her "good-bye" is 'good buy' and her 'must buy' is 'should sell'.
Fortunately, my wife is supportive and never stop me. Otherwise, I would have missed 3 boats. May be I did not let her have a chance to think on these 3 occasions. I saw the place on my own and bring her the next day and close the deal the following day. Never regretted on our decisions since the day we have bought those properties.
I just tell my wife to buy cheque book along, didn't even tell her the selling price of the condo.
still need to pay govt 25% levy (which was about $100k), sign........ :scared-3:
100k enough for downpayment for condo leh.:banghead:
If I am more daring enough to hoot another property for < 380k back in 2008-9 with just 10% DP that time(iirc), I would have 2 fully paid property by 2014.
Why blame someone else for OWN decision? If you don't have the foresight or don't have the money to buy the property on your own, why blame the woman? It's like blaming the woman for not bearing daughters not sons; it's actually the man's fault.
There are many female property owners around. Buying property has got nothing to do with gender.
Why blame someone else for OWN decision? If you don't have the foresight or don't have the money to buy the property on your own, why blame the woman? It's like blaming the woman for not bearing daughters not sons; it's actually the man's fault.
There are many female property owners around. Buying property has got nothing to do with gender.
My colleagues have a fully paid HDB 5 room, he have 2 graduate daughter now working, he have the cash for 20% down payment for PC, his daughter repeatedly ask him to buy a PC. Guess who is stopping him.
I have. I have missed many, many boats. If I line them all up, can start a shipping business.
Here are a few of those boats that I remember missing:
1988 - Farrer Court cost about 300K only so me and my friend decided to share and buy one instead of renting there. We could not buy on our own as we got not enough money. Just graduated and started working but not enough CPF, no savings, got to pay off tuition loan. My friend suddenly chicken out so I cannot buy. When it comes to property investment, many talk a lot but few dare to buy, even when prices crashed. Farrer Court price went up to a million in 1996. When this boat came back in 1998, I jumped in even when my father told me not to buy, as I just bought a 2 br condo and a 3R HDB flat.
1992 - Viewed Ivory Heights, high floor, can see CK Tang from the unit on a clear day. Owner asking 300K. Can buy but did not buy because it cost 100K more than a HDB executive flat in Jurong.
1998 - Leedon Heights, ground floor unit, beautifully renovated, agent says owner will sell for 680K. I offered 660K. No deal. Missed this boat which was later enblocked for more than 2 million.
2009 - Chancery Court, 4th floor, original condition but cheap, only 1.08 million. I ask my friend and she said wait for price to fall further. I offered 1 million and got nothing. I should never have listened to a woman when it comes to property. They always look for bargains.
There are many more, I just list the big ones.
What about you? Have you missed any boats? Care to share, so that we may be wiser, the next time the boat drift back as the tide changes.
Actually with your years of investing in property since 1998. I would be more interested in hearing you view of where you think the residential market is headed next. DOWN or UP? :)
buttercarp
25-08-12, 01:21
Luxus Hills was a "landed" boat which I had missed.. so I Sibeh tulan liao!! :simmering:
.............now 2.9-mil lor ..
http://forums.condosingapore.com/showthread.php?t=12285
Everytime I pass by there I got this sour feeling.
By right, should have owned a unit in Phase 1 facing the park!
I can understand your tulan-ness.
In 2010, the price went up by 100k, I buay song, still don't want to buy.
So with this kind of feeling, I know that I can never stay there.
My colleagues have a fully paid HDB 5 room, he have 2 graduate daughter now working, he have the cash for 20% down payment for PC, his daughter repeatedly ask him to buy a PC. Guess who is stopping him.
Usually people who have less money are willing to take more risk. People who have no money always talk about and urge others to take greater risk.
Actually , it can go terribly wrong
http://smartpropertybuyer.blogspot.sg/2008/06/buy-property-to-hedge-against-inflation.html
...he mentioned about depreciation of 99 yrs LH, how much have Sherwood Towers units depreciated?
Actually with your years of investing in property since 1998. I would be more interested in hearing you view of where you think the residential market is headed next. DOWN or UP? :)
I don't know where the residential market is heading. Two years back I thought it was going down, so I sold one of only 2 investment properties I have in Singapore. Prices went up further after I sold. I thought prices will come down when the government introduced CM, so I sold one more. Looking at the last few transacted prices recently, I left about 500K-600K on the table after I got out. I think I more Tulan now than those who missed Luxus Hill.
Go ask Phantom or his on-line verbal sparring partner. They seems to know where the market is heading.
phantom_opera
25-08-12, 07:49
I don't know where the residential market is heading. Two years back I thought it was going down, so I sold one of only 2 investment properties I have in Singapore. Prices went up further after I sold. I thought prices will come down when the government introduced CM, so I sold one more. Looking at the last few transacted prices recently, I left about 500K-600K on the table after I got out. I think I more Tulan now than those who missed Luxus Hill.
Go ask Phantom or his on-line verbal sparring partner. They seems to know where the market is heading.
Nobody knows for sure, it boils down to risk management and how u allocate your asset ... it is suicide to hold cash in FD now, US Fed looks very much like BOJ, SIBOR could stay at 0.4% for 20y. Those who subscribe to NTUC Income 15y 3.65% bond are not exactly fools, 9b worth of fools??
Everytime I pass by there I got this sour feeling.
By right, should have owned a unit in Phase 1 facing the park!
I can understand your tulan-ness.
In 2010, the price went up by 100k, I buay song, still don't want to buy.
So with this kind of feeling, I know that I can never stay there.
It should remind you to seize opportunities when it comes next time. There are many people out there who are even smarter and able to see real opportunities, just that they don't even have the means ($) to decide.
Good times in Singapore may not last forever. The boat will always come back to pick up more people. Juz save up harder now n wait patiently for e next boat.
You are right but the problem human dont last forever. How many 10 years or 5 years we have from the time we start work. Even when the boat return,
some may be uisng walking stick and lose out or fall when boarding:D
Caspian
#13-16 4 bedroom 1389sqft was $809100
#03-16 4 bedroom 1389sqft was $778500
when i visited the showflat in mar 09, never buy. :o
I missed this boat too. Who would have thought Jurong West can come so far in prices....
Had I brought my wife with me to view resale properties, I would be homeless today. See one hairline crack on the wall, don't want to buy!
Haha... sama sama... that is how I landed up in a 99LH when the 15yr FH just down the road is better value-for-money...
The FH I saw was $900k for 1,500sf when I first saw. Then up to $1.2m and now $1.5m.
:banghead:
You are right but the problem human dont last forever. How many 10 years or 5 years we have from the time we start work. Even when the boat return,
some may be uisng walking stick and lose out or fall when boarding:D
Is true lor.. And this is what I think..
Actually S'pore property market has already been driven by sentiment rather than fundamental.. cos if you forever stuck to fundamental, forever you'll be slower than other & you may end up only talking BIG BIG & forever no action..
S'pore property market is very unpredictable with especially when the gov every now & then intervene with CM.. makes it more difficult to predict whats gonna happen next..
Analyst are now try to predict up to next 6-12 mths only.. some analyst talk BIG BIG end up go MIA.. some analyst even can come out an article one full page, after you read it, bring you merry-go-round & you still can't find the answer whether price will be heading north or south.. :doh:
Too many factors at play:
1. Government policies - populists or idealist. 2016 GE?
2. Global Outlook - China, Europe, US, SEA.
3. Individual Pressures - Family Needs, Location, Change jobs, etc.
4. Unforeseen Calamities - Disease, Terrorism, Natural Disasters (in SG).
Play within your means.
Maybe non-residential properties still more attractive...
Is true lor.. And this is what I think..
Actually S'pore property market has already been driven by sentiment rather than fundamental.. cos if you forever stuck to fundamental, forever you'll be slower than other & you may end up only talking BIG BIG & forever no action..
S'pore property market is very unpredictable with especially when the gov every now & then intervene with CM.. makes it more difficult to predict whats gonna happen next..
Analyst are now try to predict up to next 6-12 mths only.. some analyst talk BIG BIG end up go MIA.. some analyst even can come out an article one full page, after you read it, bring you merry-go-round & you still can't find the answer whether price will be heading north or south.. :doh:
Actually quite predictable. When gov allow 100% loan, dps, etc... They want prices to rise. When they come out with CMs, they are trying to control the sharp rise in property prices. In other words, if prices rise 15% this year, or even 10%, do you think more CMs will come out. So, to me, the upside is 5% per year. The downside is the predicament from euro zone.
The thing about Analyst wrong prediction - How true and was exactly what was experienced back in 2008-09, even all the big MNC banks said there will be supply glut for a few years. All of them kept mum when the market proved them all wrong and not only that, more land supply, BTOs and new launches. The rest ... History....
Been watching property in S'pore since owned first HDB, also missed some.
First buy direct HDB 5 rm D23 in 96, sold for about 120k profit in '01 ;)
Bought D14 EA HDB ~470k, decided to skip Amberville Masionette offer of 100k+ more (my first miss as it was enbloc to Far East for ~$1M per unit 5 yrs later):doh:
Late '08-'09 with a little bit of savings and just at dawn of Lehman crisis, went to view showroom at kovan Res, clover by the park, Dakota Res, Arte, trevista. No decision made as not near kid's school, size, quantum, 20% dnpayment, no DPS and also very significantly - negative sentiments from Analyst. Kovan 4-bedder below@$600psf, clover @$700+psf, Arte @$900psf, Dakota@$800+psf, so many "relatively cheap" buys and did not do anything because was looking at the most ideal. Can say Miss Miss Miss......
In early '10, found a 25 yr old FH apartment near MRT in D19 and walking distance to Kid's school, closed the deal in a week but with quantum quite high as old apartment size usually bigger but still below$700PDF :D .
Now, HDB rented out for less than $3k & using it to fund the mortgage of the FH apartment. :D
Next, looking to exit my HDB before 2018 hopefully before any massive HDB resale carpet the market (any opinion or advice here welcomed ?).
Looking back, it's still about the fact that in life, we gain some, we lose some. Just learn to be wiser by the day, doing the things that matters so that we can return to our creator.
Is true lor.. And this is what I think..
Actually S'pore property market has already been driven by sentiment rather than fundamental.. cos if you forever stuck to fundamental, forever you'll be slower than other & you may end up only talking BIG BIG & forever no action..
S'pore property market is very unpredictable with especially when the gov every now & then intervene with CM.. makes it more difficult to predict whats gonna happen next..
Analyst are now try to predict up to next 6-12 mths only.. some analyst talk BIG BIG end up go MIA.. some analyst even can come out an article one full page, after you read it, bring you merry-go-round & you still can't find the answer whether price will be heading north or south.. :doh:
The thing about Analyst wrong prediction - How true and was exactly what was experienced back in 2008-09, even all the big MNC banks said there will be supply glut for a few years. All of them kept mum when the market proved them all wrong and not only that, more land supply, BTOs and new launches. The rest ... History....
Been watching property in S'pore since owned first HDB, also missed some.
First buy direct HDB 5 rm D23 in 96, sold for about 120k profit in '01 ;)
Bought D14 EA HDB ~470k, decided to skip Amberville Masionette offer of 100k+ more (my first miss as it was enbloc to Far East for ~$1M per unit 5 yrs later):doh:
Late '08-'09 with a little bit of savings and just at dawn of Lehman crisis, went to view showroom at kovan Res, clover by the park, Dakota Res, Arte, trevista. No decision made as not near kid's school, size, quantum, 20% dnpayment, no DPS and also very significantly - negative sentiments from Analyst. Kovan 4-bedder below@$600psf, clover @$700+psf, Arte @$900psf, Dakota@$800+psf, so many "relatively cheap" buys and did not do anything because was looking at the most ideal. Can say Miss Miss Miss......
In early '10, found a 25 yr old FH apartment near MRT in D19 and walking distance to Kid's school, closed the deal in a week but with quantum quite high as old apartment size usually bigger but still below$700PDF :D .
Now, HDB rented out for less than $3k & using it to fund the mortgage of the FH apartment. :D
Next, looking to exit my HDB before 2018 hopefully before any massive HDB resale carpet the market (any opinion or advice here welcomed ?).
Looking back, it's still about the fact that in life, we gain some, we lose some. Just learn to be wiser by the day, doing the things that matters so that we can return to our creator.
Why 2018 to exit HDB?
The thing about Analyst wrong prediction - How true and was exactly what was experienced back in 2008-09, even all the big MNC banks said there will be supply glut for a few years. All of them kept mum when the market proved them all wrong and not only that, more land supply, BTOs and new launches. The rest ... History....
Been watching property in S'pore since owned first HDB, also missed some.
First buy direct HDB 5 rm D23 in 96, sold for about 120k profit in '01 ;)
Bought D14 EA HDB ~470k, decided to skip Amberville Masionette offer of 100k+ more (my first miss as it was enbloc to Far East for ~$1M per unit 5 yrs later):doh:
Late '08-'09 with a little bit of savings and just at dawn of Lehman crisis, went to view showroom at kovan Res, clover by the park, Dakota Res, Arte, trevista. No decision made as not near kid's school, size, quantum, 20% dnpayment, no DPS and also very significantly - negative sentiments from Analyst. Kovan 4-bedder below@$600psf, clover @$700+psf, Arte @$900psf, Dakota@$800+psf, so many "relatively cheap" buys and did not do anything because was looking at the most ideal. Can say Miss Miss Miss......
In early '10, found a 25 yr old FH apartment near MRT in D19 and walking distance to Kid's school, closed the deal in a week but with quantum quite high as old apartment size usually bigger but still below$700PDF :D .
Now, HDB rented out for less than $3k & using it to fund the mortgage of the FH apartment. :D
Next, looking to exit my HDB before 2018 hopefully before any massive HDB resale carpet the market (any opinion or advice here welcomed ?).
Looking back, it's still about the fact that in life, we gain some, we lose some. Just learn to be wiser by the day, doing the things that matters so that we can return to our creator.
i am in kind of same situation as you...i moving back to my hdb to stay after having sold my 99lh pc in pasir ris last year which i bought in 07...i stayed in rented semi-d for 1 year hoping to buy another pc and move in using rental income from my 4rm hdb to cover mortgage...but after almost 1 year for some reason or other we never bought....so now we moving back to our hdb after extensive reno....:cheers1:
so what happens now....yes i looking to buy a pc in future to stay and rent out my hdb....BUT like you i have considered many times whether i should sell my HDB and maybe use the $$ to buy another PC??
But at moment i think NOT advisable FOR ME to sell my HDB....(sorry maybe your situation NOT exactly same in terms of location and size of hdb)
BUT for me the main reason i feel that once your OUT of the HDB market you can never come back in because of govt policies...thats WHY no matter what think VERY VERY VERY carefully before you exit HDB...its a one way ticket...OUT:cool:
your reasoning for 2018 could be because of massive supply of hdb coming out but trust me govt very smart...all those units are sold and somehow hdb market today not like last time...there will always BE a demand...otherwise where people going to stay...:confused:
after reading thru this thread i realise there are....
more people like this...:banghead::banghead::banghead::banghead::banghead::banghead::banghead::banghead::banghead:
less people like this...:cheers4::cheers4:
and some people like this...:D:D:D:D:D:D
lets move on bro/sis....:cheers5:
BUT for me the main reason i feel that once your OUT of the HDB market you can never come back in because of govt policies...thats WHY no matter what think VERY VERY VERY carefully before you exit HDB...its a one way ticket...OUT:cool:
your reasoning for 2018 could be because of massive supply of hdb coming out but trust me govt very smart...all those units are sold and somehow hdb market today not like last time...there will always BE a demand...otherwise where people going to stay...:confused:
I agree with this. I am hanging on to my hdb is it is within 1km of a heavily oversubscribed primary sch and who knows, I may need the location to get my grandchildren into the sch in the future. :ashamed1:
Haha... sama sama... that is how I landed up in a 99LH when the 15yr FH just down the road is better value-for-money...
The FH I saw was $900k for 1,500sf when I first saw. Then up to $1.2m and now $1.5m.
:banghead:
Lakeholmz:
2012-04-02 #08-XX 1,507 833 1,255,000
...was eyeing similar size units at 600plus K in 2003, and again in 2007...
So now do we consider those snapped up units at Parc Centros and One Dusun as another missed the boat? :rolleyes:
So now do we consider those snapped up units at Parc Centros and One Dusun as another missed the boat? :rolleyes:
if someone put a gun at your head and say you MUST buy one unit at ponggol otherwise i will shoot you...THEN you must BUY 1 unit at parc centros....:D
ABSOLUTE NO brainer new launch in punggol...:cool:
http://smartpropertybuyer.blogspot.sg/2008/06/buy-property-to-hedge-against-inflation.html
...inflation.html...he mentioned about depreciation of 99 yrs LH, how much have Sherwood Towers units depreciated?
2012-07-26 #06-XX 1,830 738 1,350,000
2012-06-15 #12-XX 1,830 742 1,358,000
2012-05-25 #10-XX 1,518 679 1,030,000
2012-05-21 #12-XX 1,485 670 995,000
2012-05-09 #02-XX 1,539 689 1,060,000
2012-04-23 #12-XX 1,518 665 1,010,000
2012-04-12 #03-XX 786 840 660,000
2012-04-04 #22-XX 1,518 692 1,050,000
2012-04-03 #18-XX 1,518 758 1,150,000
2012-04-02 #20-XX 1,421 695 988,000
2012-03-21 #30-XX 1,755 798 1,400,000
2012-03-13 #27-XX 1,518 692 1,050,000
2012-02-29 #06-XX 1,830 724 1,325,000
What do you think was the original price in 1976?...36 years ago.......
Another thing to consider is the growth of Singapore from 2012 to 2042 may not be as great as it was from 1982 to 2012. :beats-me-man:
how about seaview? Heard was pretty gd price before the actual launch.
Everytime I pass by there I got this sour feeling.
By right, should have owned a unit in Phase 1 facing the park!
I can understand your tulan-ness.
In 2010, the price went up by 100k, I buay song, still don't want to buy.
So with this kind of feeling, I know that I can never stay there.
looks like i was not the only one who was invited for the initial launch.
I actually felt that Luxus Hill was too isolatoed and ulu with too many factories near by.
so din consider the upside.
I thought you guys created this thread as a tribute for Ah B !!!
Anyway, you may have known by now, One Dusun was a complete sell out with its commercial units hitting 8,000 psf - all SNAPPED UP!
Upside for resi maybe quite limited for now, 10-15% is achieveable, but if you are looking at 30-40% like last time, not many can offer such returns.
But commercial is just beginning to go up, same theory, look for Freehold, MRT, but not residential enclaves but business districts. Shld offer good returns in the next 5 years to come.
DKSG
PS : Just my 2.5 cents opinion.
Not so convinced that Balestier can absorb so much commercial space...
ikan bilis
25-08-12, 20:54
Not so convinced that Balestier can absorb so much commercial space...
Balestier/thomson side can buy some old FH commercial shops there and wait for people to enbloc and build clinics... but too bad me over-stretched liow and too small fish also... :(
I thought you guys created this thread as a tribute for Ah B !!!
MISSED THE BOAT EXPERT MR B forever will not admit that he is the expert in missing the boats...
But from the speed of his "cut & paste".. I can confirmed that he has been waiting & waiting & waiting by the shore since end 2008.. eagerly hoping for another boat can come back soon..
But his "coming soon".. been repeating since 2008 till now still repeating "coming soon".. :doh:
:D
Officially missed the latest boat....One Dusun is sold out within 2 days.
:scared-3:
ikan bilis
25-08-12, 21:06
MISSED THE BOAT EXPERT MR B forever will not admit that he is the expert in missing the boats...
But from the speed of his "cut & paste".. I can confirmed that he has been waiting & waiting & waiting by the shore since end 2008.. eagerly hoping for another boat can come back soon..
But his "coming soon".. been repeating since 2008 till now still repeating "coming soon".. :doh:
:D
sekali next boat boarded is a sinking boat, a sub-marine, or by then water infested with piranhas.... then how ??... :scared-4:
Allthepies
25-08-12, 21:49
sekali next boat boarded is a sinking boat, a sub-marine, or by then water infested with piranhas.... then how ??... :scared-4:
Most probably for people who waited too long and finally took action :D :D
I thought you guys created this thread as a tribute for Ah B !!!
Anyway, you may have known by now, One Dusun was a complete sell out with its commercial units hitting 8,000 psf - all SNAPPED UP!
Upside for resi maybe quite limited for now, 10-15% is achieveable, but if you are looking at 30-40% like last time, not many can offer such returns.
But commercial is just beginning to go up, same theory, look for Freehold, MRT, but not residential enclaves but business districts. Shld offer good returns in the next 5 years to come.
DKSG
PS : Just my 2.5 cents opinion.
Commercial units at such high prices are good investment? Did you buy any?
The buyers of commercial units could be potential losers if they have to sell after TOP. Most likely cannot rent out or have to rent out at much lower rent than projected. Who would want to pay sky high rent for shop or F&B space at Balestier?
The winners are the developer, the government, the lawyers, the agents and the buyers who can make money selling their units to another sucker, before TOP.
"It is always easier to fool people than to convince them that they have been fooled". - Mark Twain.
Luxus Hills was a "landed" boat which I had missed.. so I Sibeh tulan liao!! :simmering:
Moreover while seeing the price keep going UP UP UP since 2009.. came a MISSED THE BOAT EXPERT cum YOUNG KOK cum INEXPERIENCE MR SMARIAN & DAVID LIM (aka MR B) keep saying is down down down.. down from 2008 1.6-mil down till end last year 2.4-mil.. still saying down down down.. makes me even more tulan!!
:simmering: :simmering:
http://www.sg-house.com/classifieds/buy-and-sell-private-apartment-condominium/1243648-price-decreasing-for-singapore-property.html
When KING OF ALL FAILURE DAVID LIM act blur change nick to MR B & started his own USELESS thread ".. price is coming down fast" last Oct... I continue to hamtam him... hamtam from Luxus Hills 2.4-mil... hamtam till now 2.9-mil lor ..
What to do.. I very boring mah!!
:D
http://forums.condosingapore.com/showthread.php?t=12285
Hahahahahaha..........
sekali next boat boarded is a sinking boat, a sub-marine, or by then water infested with piranhas.... then how ??... :scared-4:
just make sure u wearing life vest...u will be ok..;)...but urghhh the piranha
one a bittt difficult...:scared-1:
Commercial units at such high prices are good investment? Did you buy any?
The buyers of commercial units could be potential losers if they have to sell after TOP. Most likely cannot rent out or have to rent out at much lower rent than projected. Who would want to pay sky high rent for shop or F&B space at Balestier?
The winners are the developer, the government, the lawyers, the agents and the buyers who can make money selling their units to another sucker, before TOP.
"It is always easier to fool people than to convince them that they have been fooled". - Mark Twain.
I just attended a commercial property course by ah Poh.
He Very bullish on commercial...
The investor profile who attended the course according to my own analysis from chat chat and hear hear:-
1) investors of 0-20ppties in commercial space
2) SME owners who have bought their own commercial space for use and thinking of investing in other commerical space to rent out
3) SME owners who do not have space but thinking of investing
4) condo owners who bought during 2005-2007 and now seeing a lot of gain and want to seek out better yielding commercial
5) people sitting on cash and waiting for crash and considering commercial
i am in kind of same situation as you...
But at moment i think NOT advisable FOR ME to sell my HDB....(sorry maybe your situation NOT exactly same in terms of location and size of hdb)
BUT for me the main reason i feel that once your OUT of the HDB market you can never come back in because of govt policies...thats WHY no matter what think VERY VERY VERY carefully before you exit HDB...its a one way ticket...OUT:cool:
your reasoning for 2018 could be because of massive supply of hdb coming out but trust me govt very smart...all those units are sold and somehow hdb market today not like last time...there will always BE a demand...otherwise where people going to stay...:confused:
Yes, with current policy to rein in the market, agree that it's a one way out and not able to come back in. But remember the last propty boom in 90s, entire HDB apartment was not even allowed to rent out unless owner can prove overseas long term assignment and it's the only reason allowed for subletting. Also recalled that many new flats in then new estate such as Punggol, Sengkang, Jurong West, CCK, Bukit Panjang were owned but left vacant as these couples prefer to stay with their parents due to proximity and convenience.
Had been eyeing on City Fringe HDB as next purchase (as only affordable to me, have more bedrooms and newer than City Central). The immigrants were starting to increase their presence and have been targeting that city fringe HDB apartment with many rooms near to MRT, food place will be popular and easier to sublet as only single room renting is allowed. When policy changed by MBT sometime in '03 or 04, it was a real surprise of a policy for the closely guarded public housing. Of course, it was an even greater surprise to see the rental go so high (2-3X) as the years go by, think renting HDB back in 03-04 was a $1k/mth thing only at best. I count my blessings and ignore all the earlier misses (not meant to be).
Back to plan to exit HDB before 2018, my reasons are :
1. Purely based on supply and demand analysis esp. with 20-25k BTOs every year since 2010 (4 years to build, 5 years to MOP). Implies that more and more households may want to liquidate HDB to move up to PC/landed. The pressure on prices will come in when there is more supply than demand and all resale may start to dip or slide. Then again, the supply glut may be absorbed if the immgration numbers continue to climb.
2. These MOP HDBs would probably be owned by Gen Y couples. I have noted that profile which are generally fast movers and are less sentimental which may be a good trait for investment but not so good in the long run as not building tenacity in the workplace. They will want to upgrade to private housing or liquidate to relocate to a place of their lifestyle.
3. When too many people jump in to speculate on notion "Renting out after MOP to buy a PC". The market may not be sustainable when it is too rampant. The authorities is definitely going to do something. The easiest being to do the U-Turn on policy for HDB. If the 6.5 million population plan is to be materialised, then I believe the prices of properties including resale HDB have got some room for upward movement. By then, my cycle with HDB should end (nearing mortgage end) and it's time for some one else to take over the golden goose if it still is one. And I plan to retire early with proceeds from sale of HDB.
I just attended a commercial property course by ah Poh.
He Very bullish on commercial...
The investor profile who attended the course according to my own analysis from chat chat and hear hear:-
1) investors of 0-20ppties in commercial space
2) SME owners who have bought their own commercial space for use and thinking of investing in other commerical space to rent out
3) SME owners who do not have space but thinking of investing
4) condo owners who bought during 2005-2007 and now seeing a lot of gain and want to seek out better yielding commercial
5) people sitting on cash and waiting for crash and considering commercial
Which of the 5 investor profile group best describe yourself, since you attended the course too? Have you bought any commercial properties?
If you are looking to buy, I can ask my agent to help you. He has been calling me every time there is a new launch. He called me to ask if I wished to give check for ODR. I told him I no longer interested as I smell bubble.
blackapple
26-08-12, 09:29
Back to plan to exit HDB before 2018, my reasons are :
1. Purely based on supply and demand analysis esp. with 20-25k BTOs every year since 2010 (4 years to build, 5 years to MOP). Implies that more and more households may want to liquidate HDB to move up to PC/landed. The pressure on prices will come in when there is more supply than demand and all resale may start to dip or slide. Then again, the supply glut may be absorbed if the immgration numbers continue to climb.
By 2018, there will be 25K completed BTO. So if the HDB price should drop, this ready HDB will offered better value than BTO. This will cause the demand for the BTO to drop. Thus the BTO build will drop. Then the price will stabilise or trend down slowly.
I think the government goal is to have a stable housing (trend up or trend down). Even jim roger acknowledge that singapore government do a lot of thing right. A stable housing is the fundamental to a stable economy and banking sector. More than 50% of the loan are house loan.
I believe as a young nation, we are learning from our past mistake like demand and supply of HDB. It will be fine tune and will get better. If you should sell and waiting for price to drop, you need to think twice.
My 2cents..
Erm...if demand for bto drop, they will just stop launching bto. Their ultimate aim was not for price to drop, but to maintain a stable price on par with national growth.
:beats-me-man:
blackapple
26-08-12, 10:15
Erm...if demand for bto drop, they will just stop launching bto. Their ultimate aim was not for price to drop, but to maintain a stable price on par with national growth.
:beats-me-man:
I think they should not stop launching BTO. Just reduce the number of BTO. If not, they will create the same problem Marlboro Tan created.
IMO, commercial investment has higher risk especially with uncertainly looming in US and Europe. High risk as tenants may have bad debt and delay payment of rental. Unless you rent out to Singapore Pool (recession proof).
I just attended a commercial property course by ah Poh.
He Very bullish on commercial...
The investor profile who attended the course according to my own analysis from chat chat and hear hear:-
1) investors of 0-20ppties in commercial space
2) SME owners who have bought their own commercial space for use and thinking of investing in other commerical space to rent out
3) SME owners who do not have space but thinking of investing
4) condo owners who bought during 2005-2007 and now seeing a lot of gain and want to seek out better yielding commercial
5) people sitting on cash and waiting for crash and considering commercial
IMO, commercial investment has higher risk especially with uncertainly looming in US and Europe. High risk as tenants may have bad debt and delay payment of rental. Unless you rent out to Singapore Pool (recession proof).
Ya. That's the thought of some investors on whether it is still good time to buy commercial. Some others are gearing to buy.
For the trainer.. he always thinks vacancy will not be there if you buy into the CBD area
Which will you buy? Commercial or Residential in CBD? Which has limited stocks?
Ya. That's the thought of some investors on whether it is still good time to buy commercial. Some others are gearing to buy.
For the trainer.. he always thinks vacancy will not be there if you buy into the CBD area
The 1996 bubble ends with industrial prices skyrocketing...
CBD is not small. There are quite a few shops along Robinson road that are not doing well.
I think they should not stop launching BTO. Just reduce the number of BTO. If not, they will create the same problem Marlboro Tan created.
Stable price. Miss the days when owning private housing can also buy HDB.
Focus on the big picture but not the defects on the frame.
The 1996 bubble ends with industrial prices skyrocketing...
CBD is not small. There are quite a few shops along Robinson road that are not doing well.
Just read, 3k citizenship granted over a weekend. What do you think?
Ya. That's the thought of some investors on whether it is still good time to buy commercial. Some others are gearing to buy.
For the trainer.. he always thinks vacancy will not be there if you buy into the CBD area
I also got interested in the commercial at CBB recently when an agent told me about Oxley Tower. Commercial got no ABSD and buyer can avoid GST if buy using company. Me and my friend handed him checks for the best ground floor F&B unit when he told us the price is around $6500 psf and a big Malaysian buyer is willing to pay $7000 psf.
We give check solely for flipping, not for holding. After we handed him the checks, he said all ground floor F&B units sold. A day before balloting, agent said got one less prime F&B units still available, at higher psf and asked me to consider this unit and the shop units. Typical agent tactics, they just want you to buy something so that they can get the commission.
Me and my friend went around that area and had coffee at a cafe about 50 metres away from the Oxley Tower site. We asked the cafe owner there how much his rent. Only 1/3 of what the projected rent my agent said the Oxley F&B units could fetch! Who would pay 3 times more to rent the F&B space when it is ready? How many more cups of coffee they have to sell to be profitable?
Against my advise, my friend threw in six checks and got one shop unit. I abstained. I see no reason why anyone would want to buy a retail space there, other than for flipping. Who would want to go there to shop, especially if the building got limited parking lots? CBD got shoppers after office hours or during the weekend?
My first investment property other than my HDB was a commercial property in Malaysia, in 1994, purchased with 70% loan. When TOP in 1996, I rented it out for about 8% yield. In 1998 during the crisis, my tenant went bust and disappeared and I lost all I invested in that commercial property.
Commercial property is a different game from residential property.
I also got interested in the commercial at CBB recently when an agent told me about Oxley Tower. Commercial got no ABSD and buyer can avoid GST if buy using company. Me and my friend handed him checks for the best ground floor F&B unit when he told us the price is around $6500 psf and a big Malaysian buyer is willing to pay $7000 psf.
We give check solely for flipping, not for holding. After we handed him the checks, he said all ground floor F&B units sold. A day before balloting, agent said got one less prime F&B units still available, at higher psf and asked me to consider this unit and the shop units. Typical agent tactics, they just want you to buy something so that they can get the commission.
Me and my friend went around that area and had coffee at a cafe about 50 metres away from the Oxley Tower site. We asked the cafe owner there how much his rent. Only 1/3 of what the projected rent my agent said the Oxley F&B units could fetch! Who would pay 3 times more to rent the F&B space when it is ready? How many more cups of coffee they have to sell to be profitable?
Against my advise, my friend threw in six checks and got one shop unit. I abstained. I see no reason why anyone would want to buy a retail space there, other than for flipping. Who would want to go there to shop, especially if the building got limited parking lots? CBD got shoppers after office hours or during the weekend?
My first investment property other than my HDB was a commercial property in Malaysia, in 1994, purchased with 70% loan. When TOP in 1996, I rented it out for about 8% yield. In 1998 during the crisis, my tenant went bust and disappeared and I lost all I invested in that commercial property.
blackapple
26-08-12, 13:40
Stable price. Miss the days when owning private housing can also buy HDB.
The last and most lethal CM is that all private owner cannot own HDB... :scared-1:
A BTO brought at $300K at punggol, if it can rent out at $1000, the yield is 4%. A BTO brought at $500K at Clementi, the rent is $1500, the yield is 3.6%. This is better than CPF rate of 2.5%. The Gen Y are quite well exposed. I think they will not sell their HDB especially if private housing cannot buy HDB. Let hope the Gen X do not become a tenant of Gen Y.
The last and most lethal CM is that all private owner cannot own HDB... :scared-1:
A BTO brought at $300K at punggol, if it can rent out at $1000, the yield is 4%. A BTO brought at $500K at Clementi, the rent is $1500, the yield is 3.6%. This is better than CPF rate of 2.5%. The Gen Y are quite well exposed. I think they will not sell their HDB especially if private housing cannot buy HDB. Let hope the Gen X do not become a tenant of Gen Y.
Subletting rules still governed by HDB. In a way, it still can be controlled.
Gen Y should be mostly thinking double buy for stay is a good deal but that is not a good strategy if everybody is planning to do it as their thinking adapts to current situation. Have to clarify Gen Y should not be current HDB landlord right now, probably the older generation are subletting their flats now, maybe 7 years later they will join in the fun. A lot of things can happen assuming if they are supporting 2 properties loan after their mop finishes even with prudent finances, and pray hard trouble don't come in remember HDB is not a collatoral which increases the chance of losing the condo.
At this situation Gen X should never go be tenant thinking property price will drop and PPI achieve peak. Especially major developers show a downtrend of net debt for the past ten years and no signs of major lowering psf for new launches and sentiments robust. The next banking shock may not come here so soon with Fed printing $$. Will ah b be motivated?
Return of the 10 years MOP rule for HDB. :scared-5:
The last and most lethal CM is that all private owner cannot own HDB... :scared-1:
A BTO brought at $300K at punggol, if it can rent out at $1000, the yield is 4%. A BTO brought at $500K at Clementi, the rent is $1500, the yield is 3.6%. This is better than CPF rate of 2.5%. The Gen Y are quite well exposed. I think they will not sell their HDB especially if private housing cannot buy HDB. Let hope the Gen X do not become a tenant of Gen Y.
The last and most lethal CM is that all private owner cannot own HDB... :scared-1:
A BTO brought at $300K at punggol, if it can rent out at $1000, the yield is 4%. A BTO brought at $500K at Clementi, the rent is $1500, the yield is 3.6%. This is better than CPF rate of 2.5%. The Gen Y are quite well exposed. I think they will not sell their HDB especially if private housing cannot buy HDB. Let hope the Gen X do not become a tenant of Gen Y.
In Gen Y's time, ALL remaining CPF in ord a/c will be used to fund initial BTO or subsidised HDB whether 50k/100k to make at least 20% or more of price. Then the remaining amount will be granted the HDB
[email protected]% fixed. Am I right?
It will not be so easy to raise 40% of another $1M propty.
blackapple
26-08-12, 16:15
Subletting rules still governed by HDB. In a way, it still can be controlled.
At this situation Gen X should never go be tenant thinking property price will drop and PPI achieve peak. Especially major developers show a downtrend of net debt for the past ten years and no signs of major lowering psf for new launches and sentiments robust. The next banking shock may not come here so soon with Fed printing $$. Will ah b be motivated?
I think the next banking shock should be from China... Expect the unexpected.. When you expect the price to drop, it trend to fail you..
How many Gen X who gone through the 1997-2003 have sold their house and waiting for the price to drop ? I knew some of many friends and coworker doing that. Their monthly rent is about $2500-$3000. I think they start renting from 2007-2008 period after selling their HDB and private house. They refuse to buy back and still waiting. I am worried for this group of Gen X if there is no price correction. Anyway it is a risk that they have bet.
blackapple
26-08-12, 16:18
In Gen Y's time, ALL remaining CPF in ord a/c will be used to fund initial BTO or subsidised HDB whether 50k/100k to make at least 20% or more of price. Then the remaining amount will be granted the HDB
[email protected]% fixed. Am I right?
It will not be so easy to raise 40% of another $1M propty.
Gen Y average starting pay is from $3000. A family will have $6000. What is Gen X starting pay ? Usually Gen Y family only have one working member.. Different generation and different mindset..
Which will you buy? Commercial or Residential in CBD? Which has limited stocks?
Both are unlimited in quantity as it's all from GLS and plot ratio revision.
So you telling me to go for only those that are limited in quantity that govt don't supply anymore like 999/fh Landed, 999/fh pte shop houses?
The 1996 bubble ends with industrial prices skyrocketing...
CBD is not small. There are quite a few shops along Robinson road that are not doing well.
Ops.. We are nearly there now.. industrial prices from the ppi index indeed sky rocketted.
I also got interested in the commercial at CBB recently when an agent told me about Oxley Tower. Commercial got no ABSD and buyer can avoid GST if buy using company. Me and my friend handed him checks for the best ground floor F&B unit when he told us the price is around $6500 psf and a big Malaysian buyer is willing to pay $7000 psf.
My first investment property other than my HDB was a commercial property in Malaysia, in 1994, purchased with 70% loan. When TOP in 1996, I rented it out for about 8% yield. In 1998 during the crisis, my tenant went bust and disappeared and I lost all I invested in that commercial property.
:) Thanks for highlighting from experience. very valuable indeed.
That's why always must take two sides of the coin.
But now sitting on too much cash also a problem..
Gen Y average starting pay is from $3000. A family will have $6000. What is Gen X starting pay ? Usually Gen Y family only have one working member.. Different generation and different mindset..
The knowledge of making your money work harder for you and using other people money work for you decide your financial status.
Wait for the Concept Plan 2013.
Both are unlimited in quantity as it's all from GLS and plot ratio revision.
So you telling me to go for only those that are limited in quantity that govt don't supply anymore like 999/fh Landed, 999/fh pte shop houses?
Just read, 3k citizenship granted over a weekend. What do you think?
hopefully the 3k are not here because of using this as a stepping stone to spring board out to another country.
many have use this route to jump to another country to work.
Just read, 3k citizenship granted over a weekend. What do you think?
that means 3k bto orders....:cool:
that means 3k bto orders....:cool:
you may need to divide by 3 n one household
you may need to divide by 3 n one household
and futher divide by two as most would already be PR and bought.
new2mondrian
27-08-12, 19:03
I have. I have missed many, many boats. If I line them all up, can start a shipping business.
Here are a few of those boats that I remember missing:
1988 - Farrer Court cost about 300K only so me and my friend decided to share and buy one instead of renting there. We could not buy on our own as we got not enough money. Just graduated and started working but not enough CPF, no savings, got to pay off tuition loan. My friend suddenly chicken out so I cannot buy. When it comes to property investment, many talk a lot but few dare to buy, even when prices crashed. Farrer Court price went up to a million in 1996. When this boat came back in 1998, I jumped in even when my father told me not to buy, as I just bought a 2 br condo and a 3R HDB flat.
1992 - Viewed Ivory Heights, high floor, can see CK Tang from the unit on a clear day. Owner asking 300K. Can buy but did not buy because it cost 100K more than a HDB executive flat in Jurong.
1998 - Leedon Heights, ground floor unit, beautifully renovated, agent says owner will sell for 680K. I offered 660K. No deal. Missed this boat which was later enblocked for more than 2 million.
2009 - Chancery Court, 4th floor, original condition but cheap, only 1.08 million. I ask my friend and she said wait for price to fall further. I offered 1 million and got nothing. I should never have listened to a woman when it comes to property. They always look for bargains.
There are many more, I just list the big ones.
What about you? Have you missed any boats? Care to share, so that we may be wiser, the next time the boat drift back as the tide changes.
Property, as with all other investments, should never look back. Otherwise, you will just feel saddened about what might have been. :)
I missed many many boats too. In 2009, I almost put down the option monies for a landed terrace at 44 Ming Teck Park (land area 1,800sqft). Hubby felt land area was too small, I thought 44 sounded inauspicious. Owner asked for $1.4m, I offered at $1.38M. For $20K, the deal was off.
Then West Coast terrace came along. Land was bigger at 2300sqft, owner asked for $1.2M. My contractor was convinced there was a termites problem. So became no deal.
Then Botanic Gardens mansion came along. 2000sqft of freehold condo right behind Nassim, askg for $1.2M. We weren't sure if such an old condo can find good tenants.
Anyway before 2009, we also missed many many boats. Like a $700k inter-terrace at Serrangoon Gardens in 2003...
Haha all that is past, is past. i am thankful for where I am today, so no point dwelling in the past also. But what never ceases to amaze me was the stratospheric rise of our property prices versus real income. An optimist will say it is a sign of the success of Singapore's economic transformation against the backdrop of the Asian Growth Story, a pessimist will say this is evident of a huge bubble forming. I don't know who to believe either. Lol...
new2mondrian
27-08-12, 19:04
Repeated post.
Property, as with all other investments, should never look back. Otherwise, you will just feel saddened about what might have been. :)
I missed many many boats too. In 2009, I almost put down the option monies for a landed terrace at 44 Ming Teck Park (land area 1,800sqft). Hubby felt land area was too small, I thought 44 sounded inauspicious. Owner asked for $1.4m, I offered at $1.38M. For $20K, the deal was off.
Then West Coast terrace came along. Land was bigger at 2300sqft, owner asked for $1.2M. My contractor was convinced there was a termites problem. So became no deal.
Then Botanic Gardens mansion came along. 2000sqft of freehold condo right behind Nassim, askg for $1.2M. We weren't sure if such an old condo can find good tenants.
Anyway before 2009, we also missed many many boats. Like a $700k inter-terrace at Serrangoon Gardens in 2003...
Haha all that is past, is past. i am thankful for where I am today, so no point dwelling in the past also. But what never ceases to amaze me was the stratospheric rise of our property prices versus real income. An optimist will say it is a sign of the success of Singapore's economic transformation against the backdrop of the Asian Growth Story, a pessimist will say this is evident of a huge bubble forming. I don't know who to believe either. Lol...
i FEEL for you...but you got the right spirit...afterall $$$ doesnt equate to happiness...:)...but it would help...put a smile on ones face...:banghead::banghead::D
and futher divide by two as most would already be PR and bought.
And multiply by the number Of weeks per year :D
new2mondrian
27-08-12, 19:44
i FEEL for you...but you got the right spirit...afterall $$$ doesnt equate to happiness...:)...but it would help...put a smile on ones face...:banghead::banghead::D
Thanks bro. Anyway, my hubby is the eternal optimist. He is convinced that market would never crash, given the huge wave of baby boomers withdrawing their CPF and from a macro perspective, the risks to most folks enriched through previous property cycles is very small. If someone started out with a small purchase or $500k in 2000, and gradually trade up through the years, the his downside is very small since the real outlay is still less than $1m.
Take the Serangoon $700k landed example. Had we bought it in 2003, and later sold it for $1.2m, bought a $1.3m property in exchange, and sold it for $1.8m, and finally bought something at $2m; our net outlay excluding transaction costs would simplistically be $1m. Still remains affordable. Extend this process to the masses, it is no wonder that there is so much liquidity ard these days... :)
indeed there is multiplier effect to what was missed or "loss":banghead: :banghead: :banghead:
Wait for the Concept Plan 2013.
... you already have some ideas ... ?
I was not comfortable with commercial/industrial pties.. In 1996 as TS mentioned it was exactly like now, ppl had nothing else to buy already, all started to sing commercial 10% high yield story. Individual industrial unit cannot fight with big landlords, who has the muscle to do up access, utility, advertising, etc. tenant rate is so seasonal, yield is extremely unstable. The way I look at all these oxley strata commercial units, I really think they are cheating.
I admit I had no commercial exp. so this is just my personal view. I am watching keenly now how the Alexis commercial units are doing.
Powered by vBulletin® Version 4.2.2 Copyright © 2024 vBulletin Solutions, Inc. All rights reserved.