View Full Version : Anyone still buying despite absd?
Regulators
18-01-13, 19:43
just wondering if anyone is still buying residential despite the ridiculous absd? I have stopped looking at classified section on residential properties, focusing now on commercial. anyone doing the same?
IF Positive return, ABSD or not people still buy.
just wondering if anyone is still buying residential despite the ridiculous absd? I have stopped looking at classified section on residential properties, focusing now on commercial. anyone doing the same?
All bullets used. Sidelined for the moment. Need at least 150k or 200k to come back.
Last time buyer didnt buy because of absd now they regret didnt buy
nobrainer32007
18-01-13, 21:48
Not buying but not selling too. Hold tight tight.
Bought, bullet used up. Not selling though.
puffer_fish
18-01-13, 22:22
still in the market. the district am looking at still have some good offers.
my final purchase then it curtain call for me
Bought on 11th hr before CM6. Not selling. No more additional bullets to handle additional....
just wondering if anyone is still buying residential despite the ridiculous absd? I have stopped looking at classified section on residential properties, focusing now on commercial. anyone doing the same?
If you are asking a general question, then you just need to visit QBay.
They sold nearly half of the 600 units in the development!
Who are buying ? Haha! Dont tell you.
DKSG
one day must visit these showrooms to see what's the profile of the buyers. quite unimaginable.
If you are asking a general question, then you just need to visit QBay.
They sold nearly half of the 600 units in the development!
Who are buying ? Haha! Dont tell you.
DKSG
I think the developer absorb the 7% ABSD anyway.. so if u are able to handle the LTV, I think should have people buy... But anyway the price already revised downward so CM7 is somehow effectively if u look at this..
one day must visit these showrooms to see what's the profile of the buyers. quite unimaginable.
That is what I have been advocating for the past 18-24 months.
In property investment, there is no use sitting behind keyboard trying to murder the alphabets with your Iron Fingers!
Go and view some units, be it new or resale. It is from these viewings that you form a view in relation to the market, not in terms of your fantasy.
DKSG
That is what I have been advocating for the past 18-24 months.
In property investment, there is no use sitting behind keyboard trying to murder the alphabets with your Iron Fingers!
Go and view some units, be it new or resale. It is from these viewings that you form a view in relation to the market, not in terms of your fantasy.
DKSG
i still drop by once a while after CM6. didn't think it was necessary after CM7. maybe still should jalan jalan.
I think the developer absorb the 7% ABSD anyway.. so if u are able to handle the LTV, I think should have people buy... But anyway the price already revised downward so CM7 is somehow effectively if u look at this..
Developer has proven to the public that there are ALOT ALOT of people with ALOT ALOT of money to buy properties.
FEO has been very attuned to the CMs. With every CM, they managed to move so fast to prove that market is still there, that you dont feel the effect of CM within 3 months ... anyway, 3 months has been the record they offer rebate, after that they remove successful and people continue to buy.
For example, Waterfront (whatever), TST, etc....
Within 3 months, people will start to accept that ABSD is normal and a necessary cost (like the normal stamp duty). This was what happened to the 10% ABSD for foreigners, within 6 months, they are creeping back and buying, until it became a climax in Dec 2012.
DKSG
Regulators
18-01-13, 23:49
yes, there are still many interested to buy their first pc, but I think after this latest cm, ppl will have second thoughts about paying more than 10% extra into government's pocket. in fact the 3% extra for absd was nothing, now it is different. sometimes it is not about affordability but who wants to give $100k plus of free money to govt for a $1 million property, not to mention buying a landed as second or third pty.
here's an indication of the sidelined liquidity.
Best time to buy is now as u can get the best stack, best view, best floor u wanted. Last time 3% for 3rd property, Now Absd is 7% later raise to 15% people will flood showroom before cm8 again.
Best time to buy is now as u can get the best stack, best view, best floor u wanted. Last time 3% for 3rd property, Now Absd is 7% later raise to 15% people will flood showroom before cm8 again.
Best time to buy is now as u can get the best stack, best view, best floor u wanted for first time buyer. Our big bro for once let them skip q
Have 3 properties. 2 was bought after cm5. Contented and also can't do anything since it is still with 4 years SSD.
Just bought second one days before cm7. Now looking for another one immediate/ this year TOP unit to move in..
The best period is probably to buy within the next few months for own stay, as the developers and agencies struggle to make sense of the impact, and dangle Chinese New Year freebies to attract buyers.
The sales of the Qbay is still very good despite the price and location. Using this as a benchmark, you can see the pent-up demand from first time buyers is very high.
With the new MRT annoucements and completion of major lines in 2025 (12 years from now), it makes sense to buy properties that TOP in 2017 near the future stations to enjoy the convenience and capital appreciation.
In another words, it is very difficult to wait for the market to crash then buy, unless the interest rate moves up. But the instalment will be about the same then.
Population growth to benefit construction, transport: DBS
Published January 18, 2013
SINGAPORE - DBS Vickers expects an upcoming white paper on Singapore's population to raise its population target to 7 million from 6.5 million, which will benefit construction, land transport, property and healthcare companies.
Singapore's infrastructure is taking the brunt of an expanding population and demand for additional investment in train lines and road expansions will benefit construction firms such as crane operator Tat Hong Holdings and Sin Heng.
"We expect to see a step-up in infrastructure spending to cater to a larger population following comments from the government that population growth has outpaced infrastructure capacities in recent years," said DBS.
Singapore said on Thursday it plans to double its rail network to 360 kilometres by 2030, which is expected to boost ridership to 13.8 million rides a day, benefitting transport operators such as ComfortDelGro Corp Ltd.
DBS raised ComfortDelGro's target price to S$2.05 and kept its 'buy' rating, citing population growth and improving public transport network.
Another major transport operator, SMRT Corp Ltd, on which DBS has a 'fully valued' rating and a target price of S$1.50, however, will face near-term challenges from higher operating costs.
The larger population will mean a greater need for homes, DBS said, estimating demand to rise 31 percent. The brokerage is positive on property developers such as Capitaland for its diversified portfolio and Wing Tai Holdings Ltd for its larger exposure to residential projects.
DBS also noted that falling birth rates and ageing population will be a focus for the government, and healthcare providers such as Raffles Medical and IHH Healthcare will benefit in the long run.
Stem cord blood bank provider Cordlife Group is also likely to benefit from potential incentives to boost birth rates. -- REUTERS
Hard to see how property can crash with this kind of population projection. We should be hitting 6 mil around 2019 (15% increase from 2012), and 7 mil around 2026 (32% increase from 2012), assuming a very modest 2% growth rate.
Can our infrastructure and society take this population density and influx of foreigners? I don't think so - congestion and inflation will follow sharply, and social tension and crime rates will rise. 6 mil (6 years from now) is the critical point.
http://www.businesstimes.com.sg/breaking-news/singapore/population-growth-benefit-construction-transport-dbs-20130118 (for the article above)
Woh Pian oh! With 7 big rocks tied over the neck still cannot drown you guys. Still want to struggle to get to touch the concrete trophy. You want KBW to give you a final blow to your head is it?
Woh Pian oh! With 7 big rocks tied over the neck still cannot drown you guys. Still want to struggle to get to touch the concrete trophy. You want KBW to give you a final blow to your head is it?
With 7 tough cooling measures and property remains hot, the underlying issue is actually expected demand and inflation within the next few years. This boom is driven by fear and actual realisation of the fear later. More cooling measures will result in more pent-up demand and frustration.
7 million? Wow. I am expecting CM until #10.
7 million? Wow. I am expecting CM until #10.
Massive supply of PC building up.
Influx of immigrants all depends on the state of the economy. We need to create jobs for foreigners to come.
Good news is USA and China seems to be recovering.
Allthepies
19-01-13, 12:22
Government is creating opportunities for 1st time buyers and Real HDB upgraders (ie sell HDB after upgrade to condo). If this group of people still cannot seize the opportunities, then I don't know what to say.
phantom_opera
19-01-13, 12:26
7 million? Wow. I am expecting CM until #10.
It is what I call the Perfect Storm ... next crash will be spectacular, the question is WHEN and at what price :scared-1:
buttercarp
19-01-13, 12:37
I tot our PM said 6 mil.... then now DBS say 7mil :confused: ?
still visiting show room! enjoying the buzz and aircon. :hell-hath-no-fury: :hell-hath-no-fury:
prime us first before releasing policy paper. who knows it may be even higher!
I tot our PM said 6 mil.... then now DBS say 7mil :confused: ?
prime us first before releasing policy paper. who knows it may be even higher!
Coming soon ... Just like movie trailers ...
We all know that when such information like CM, MRT, DBS reports coming up, the population report is coming up very very soon.
And seriously no prizes for guessing it right ... In fact, guess wrong should be punished ...
The 280 people in QBay these 2 days already guessed it right ... What about u?
DKSG
just on my own circle of friends plus extended network , the real demand is really there ... so many of my friends are all hoarding their cash ... waiting till cows come home for the property price to drop ...
they always discuss about this ... each time I would just tell them ... stop waiting and whatever price drop is hopeless as the drop is never enough for them ... and each wait we see a new CM ...
but this round CM7 seem to do the trick ... it seem to have price them out with the absd ... i think they should just be contended with their one and only hdb now
I think another aspect to consider is really US,CHina and Euro recovering, which is already underway ... meaning usd should slowly recover .. and u know what that means to the value of our sgd and properties.
Coming soon ... Just like movie trailers ...
We all know that when such information like CM, MRT, DBS reports coming up, the population report is coming up very very soon.
And seriously no prizes for guessing it right ... In fact, guess wrong should be punished ...
The 280 people in QBay these 2 days already guessed it right ... What about u?
DKSG
me? already took several bites few months back, and almost another one last bite when announcement came out. totally agree with you ! :D
My guess: US economy already showing signs of recovery, Japan economy start to recover, Europe economy start to recover....
S$ drop, SG properties become cheaper (to foreigners I mean) so this time price increase will outpace inflation! :p
When will the price drop again? 2019 may be, but then, price would have gone up by >30% (6x5%)! But on the other hand, your cash in the bank would have dropped 30% due to inflation!
just on my own circle of friends plus extended network , the real demand is really there ... so many of my friends are all hoarding their cash ... waiting till cows come home for the property price to drop ...
they always discuss about this ... each time I would just tell them ... stop waiting and whatever price drop is hopeless as the drop is never enough for them ... and each wait we see a new CM ...
but this round CM7 seem to do the trick ... it seem to have price them out with the absd ... i think they should just be contended with their one and only hdb now
I think another aspect to consider is really US,CHina and Euro recovering, which is already underway ... meaning usd should slowly recover .. and u know what that means to the value of our sgd and properties.
That is why ppl still buying
me? already took several bites few months back, and almost another one last bite when announcement came out. totally agree with you ! :D
On behalf of all Singaporeans : Thank you for contribution towards our nation building and helping the poor. Also thank you for your contribution to the EC Subsidies. Haha!
Guess you are smart enough to know whats the next boom area.
DKSG
Investors are moving away from residential and into foreign properties and local commercial. ;)
On behalf of all Singaporeans : Thank you for contribution towards our nation building and helping the poor. Also thank you for your contribution to the EC Subsidies. Haha!
Guess you are smart enough to know whats the next boom area.
DKSG
IF Positive return, ABSD or not people still buy.
With ABSD + SSD, how to get positive return?
up or down, I think the outcome also good.
Up, government get money from ABSD to be used to bail out everyone when the market crashes.
Down, property cooling measures worked.
I think the government has shown that it is really serious this time. no more half measures. Even if CM7 does not work, CM8 will definitely work :)
me? already took several bites few months back, and almost another one last bite when announcement came out. totally agree with you ! :D
Took 1 bite just after CM6, paid 3% extra ABSD... Quite happy with that because prices lowered by more than 3%, sitting on paper gains... Pervious owner panicked...:D
Took another bite on new launch just before CM7... So still have to pay 3%ABSD not 10%, whether a blessing or not... Don't know yet:beats-me-man:
Took 1 bite just after CM6, paid 3% extra ABSD... Quite happy with that because prices lowered by more than 3%, sitting on paper gains... Pervious owner panicked...:D
Took another bite on new launch just before CM7... So still have to pay 3%ABSD not 10%, whether a blessing or not... Don't know yet:beats-me-man:
I still remember CM 3 or was it CM 4, quite a few panic sellers then when they introduced the first series of fairly stunning measures. showrooms went silent. how different things are 1.5 years later.
puffer_fish
19-01-13, 18:32
thanks to the panic selling in 2010. my unit purchased price from seller holds the record for the lowest psf transacted within the estate till date:D
every time i think about it, it brightens up my cloudy day:p
would heaven be so kind to repeat this feat again on me?
Investors are moving away from residential and into foreign properties and local commercial. ;)
sit tight, and wait for the wave to push foreign properties and commercial higher. all thanks to kbw :D :D
sit tight, and wait for the wave to push foreign properties and commercial higher. all thanks to kbw :D :D
kbw is different from mbt. kbw was formerly from Penang as stated by wikipedia. His perception on housing matter is different.
Investors are moving away from residential and into foreign properties and local commercial. ;)
You are sharp!
Look out for the next area cheongsters action.
If you dont believe, by next weekend, there will be strong evidence.
Sit tight! Tsunami coming!
DKSG
Regulators
20-01-13, 03:50
commercial property has 7 % gst, almost like absd. i think foreign properties is the most viable, but again, got to be careful of currency risk. in terms of currency, i think it is safer to buy aussie pty compared to london pty coz the latter might drop below $2 to a pound while aussie is more resilient against sgd imo.
Investors are moving away from residential and into foreign properties and local commercial. ;)
commercial property has 7 % gst, almost like absd. i think foreign properties is the most viable, but again, got to be careful of currency risk. in terms of currency, i think it is safer to buy aussie pty compared to london pty coz the latter might drop below $2 to a pound while aussie is more resilient against sgd imo.
what factors can make london's value to drop?
:o:o
You are sharp!
Look out for the next area cheongsters action.
If you dont believe, by next weekend, there will be strong evidence.
Sit tight! Tsunami coming!
DKSG
you mean commercial buying tsunami?
Use my company to buy.
commercial property has 7 % gst, almost like absd. i think foreign properties is the most viable, but again, got to be careful of currency risk. in terms of currency, i think it is safer to buy aussie pty compared to london pty coz the latter might drop below $2 to a pound while aussie is more resilient against sgd imo.
7 million? Wow. I am expecting CM until #10.
I expecting proxy buyers to be caught when the r interest rates raise
Not buying but not selling too. Hold tight tight.Cannot buy coz absd and prices will also fall so cannot sell too... sigh! Only consolation is when prices fall sufficiently to buy again... lol..
Cannot buy coz absd and prices will also fall so cannot sell too... sigh! Only consolation is when prices fall sufficiently to buy again... lol..
Cannot buy due to ABSD.. Cannot sell due to SSD... Better pray no rate increased, no recession, loose foreigner policy and no war or terrorist attack...
Look out for a potential US recovery 12 months from now.
commercial property has 7 % gst, almost like absd. i think foreign properties is the most viable, but again, got to be careful of currency risk. in terms of currency, i think it is safer to buy aussie pty compared to london pty coz the latter might drop below $2 to a pound while aussie is more resilient against sgd imo.
Go visit Alexandra Central preview site and see for yourself. Agents are queuing for hours to submit cheques. Buyer dun even get to go in the show room ! It is that hot.
Regulators
20-01-13, 23:10
At such prices? :doh:
Go visit Alexandra Central preview site and see for yourself. Agents are queuing for hours to submit cheques. Buyer dun even get to go in the show room ! It is that hot.
What is the psf?
7-8k ground floor
lowest is 3k on 3rd floor..
What is the psf?
4000 to 7000 depending what floor u r looking at... 30% cash payment and 70% loan if I am not wrong... 10 sqm onwards.... VVIP on 23rd... Anyone going?
Cannot buy due to ABSD.. Cannot sell due to SSD... Better pray no rate increased, no recession, loose foreigner policy and no war or terrorist attack...
No so sure about war. But from next few years readings, there shouldnt be a significant war except for one.
Tomorrow, you will hear more significant news coming out from commercial properties.
Surprisingly, the market react to the "haven made public" population policy more than the CMX.
DKSG
At 4000-7000psf. What is the expected rental psf??
No so sure about war. But from next few years readings, there shouldnt be a significant war except for one.
Tomorrow, you will hear more significant news coming out from commercial properties.
Surprisingly, the market react to the "haven made public" population policy more than the CMX.
DKSG
They are reacting by visiting the showrooms?
At 4000-7000psf. What is the expected rental psf??
You didnt get updates...
7,000 is not longer the number lo!
With more than 1,000 cheques collected, 7,000 has grown up!
DKSG
That sounds like a bubble. For that location. You probably would get about $20psf on a sustainable basis? Thay's about 3.4% gross. And you have a higher interest rate to deal with.
That sounds like a bubble. For that location. You probably would get about $20psf on a sustainable basis? Thay's about 3.4% gross. And you have a higher interest rate to deal with.
Wait until you see the population white paper then make this comments.
If you noticed, with the thousands and thousands of resi units built, there are no corresponding commercial units. One v good example is Novena/Newton area. After building Lincoln Suites, Viva, Lucida, Soleil, Trilight, etc etc, we get the same United Sq, Novena Sq, Sq 2. If u noticed, the malls are getting more crowded nowadays.
This will be the case for increasing demand for commercial properties.
Our government is one of the best in the world but not perfect la. Take care of this, miss out that. Thats is how people like us make a bit of pocket money here and there to pay for the $3 Wanton mee that used to be $2.
DKSG
Wait until you see the population white paper then make this comments.
If you noticed, with the thousands and thousands of resi units built, there are no corresponding commercial units. One v good example is Novena/Newton area. After building Lincoln Suites, Viva, Lucida, Soleil, Trilight, etc etc, we get the same United Sq, Novena Sq, Sq 2. If u noticed, the malls are getting more crowded nowadays.
This will be the case for increasing demand for commercial properties.
Our government is one of the best in the world but not perfect la. Take care of this, miss out that. Thats is how people like us make a bit of pocket money here and there to pay for the $3 Wanton mee that used to be $2.
DKSG
as usual, very astute analysis bro. always enjoy your outlook.
i like that last para most. :D
You didnt get updates...
7,000 is not longer the number lo!
With more than 1,000 cheques collected, 7,000 has grown up!
DKSG
hey you are unusually well informed for a "office boy" ;) :D
to kane: try going there and have a feel. hint : agent has NO TIME to entertain you if you dun start with "I'm sending a cheque now". :scared-4:
hey you are unusually well informed for a "office boy" ;) :D
to kane: try going there and have a feel. hint : agent has NO TIME to entertain you if you dun start with "I'm sending a cheque now". :scared-4:
wah, that fierce huh?
so what's the latest psf?
Wait until you see the population white paper then make this comments.
If you noticed, with the thousands and thousands of resi units built, there are no corresponding commercial units. One v good example is Novena/Newton area. After building Lincoln Suites, Viva, Lucida, Soleil, Trilight, etc etc, we get the same United Sq, Novena Sq, Sq 2. If u noticed, the malls are getting more crowded nowadays.
This will be the case for increasing demand for commercial properties.
Our government is one of the best in the world but not perfect la. Take care of this, miss out that. Thats is how people like us make a bit of pocket money here and there to pay for the $3 Wanton mee that used to be $2.
DKSG
the malls are getting very crowded that I agree. but the shops at a few malls are turning over to new tenants. quite surprising actually.
hey you are unusually well informed for a "office boy" ;) :D
to kane: try going there and have a feel. hint : agent has NO TIME to entertain you if you dun start with "I'm sending a cheque now". :scared-4:
Xie Xie!
You have to make the agents work for you.
Treat them like your employees, take care of their welfare, give them some money to earn from you, but make them work hard for you too !
My team of agents never dare to treat me like that though I am just an Office Boy.
DKSG
Xie Xie!
You have to make the agents work for you.
Treat them like your employees, take care of their welfare, give them some money to earn from you, but make them work hard for you too !
My team of agents never dare to treat me like that though I am just an Office Boy.
DKSG
you high class office boy, your office is 500sqft yes?
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