View Full Version : A good time to sell your HDB Now!
MyPropertyAgent
31-01-13, 11:33
On 16th Oct 2012, i mentioned in my previous post that "I expect HDB prices to drop in the near future (2.5 years from now) before next elections start because there is no way PAP can win with the current HDB transaction prices."
An update on the latest cooling measures and its impact on the property market :
In short, the re-sale market will tread flat because people will not sell their second property for a discount because if they were to buy another property they will be subjected to the ABSD of additional 7% plus lower LTV. Question to you is whats the point? Hence there's no incentive to lower their asking prices.
Secondly, very good news for 1st time buyers as there's a great Singapore sale for you to celebrate over the CNY. Developers are cutting their profits by about 5% across the board to off load 50% so that they have enough cash flow to commence with construction.
Thirdly If your family is currently staying in a HDB, you might/WILL want to explore the option of upgrading to a private property. HDB has already appreciated by 90% over the last 9 years and there's little room for capital appreciation as opposed to a private property. On top of that if you were to analyze the intentions behind the latest cooling measures will you come to a conclusion that the Gov is finding means and ways to suppress the prices of HDB. Think about it, 82% of the votes are the majority. I will not be surprised that if u were to sell your Queenstown HDB for a Million today, chances are FIVE years later you can buy it back at the same price, if not cheaper.
On a side note to address the future supply of Two hundred thousand properties in the pipeline over the next 3 years. I'll break it down for you. 110,000 are BTO, orders that were placed 2-3 years ago. The other 90,000 are the private market. Next thing to focus on is the population growth and how people are coming here to work. When there are plans to increase the population, there has to be enough room/space to house them.
Interest rates are exceptionally low making it an ideal environment for people to take loans, leverage , run businesses, you get the idea.
If a person were to dissect the property market, he/she will find that there's two markets. The market based on need and the investors market. Focusing on the latter, they do not disappear overnight, but rather they are looking elsewhere that's similar to spore.
Top Investment Markets for 2013, The top five investment markets for 2013 are predicted to be: Jakarta, Shanghai, Spore,Sydney & KL surprisingly.
Source: http://www.uli.org/press-release/emerging-trends-asia-2013/
property price appreciate by over 100 %+++
and
property developer give 5% discount
buyer is still the loser.
property company is mid-winner & loser
biggest winner?
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govt . :hell-hath-no-fury:
Wow!.... really?
Better sell quick.
haha...fire sales...
hoot..ar...buy and cheong up the market?...or sell down and allow those who are waiting on the sidelines to buy?
No one can really predict correctly. Look at those people who sold off their property, move in to stay with their parents or In laws, till date, they are still waiting....market had gone up so much since 2010. (I personally know at least 5 families who cash out during that period)
Its a waste of opportunity cost as well.
haha...fire sales...
hoot..ar...buy and cheong up the market?...or sell down and allow those who are waiting on the sidelines to buy?
No one can really predict correctly. Look at those people who sold off their property, move in to stay with their parents or In laws, till date, they are still waiting....market had gone up so much since 2010. (I personally know at least 5 families who cash out during that period)
Its a waste of opportunity cost as well.
yes my tenant was one of them. really pity them.
anyway, unlikely mkt will ever ever fall back to their level of sale price. even black swan or whatever.
regency321
31-01-13, 12:49
If prices fall, those who bought at current high prices, which is a substantial number, will be angry with the govt, since it was promised that their assets will appreciate.
If prices continue to rise, first timers will be priced out and they will vote against the govt.
They are screwed, really.
haha...fire sales...
hoot..ar...buy and cheong up the market?...or sell down and allow those who are waiting on the sidelines to buy?
No one can really predict correctly. Look at those people who sold off their property, move in to stay with their parents or In laws, till date, they are still waiting....market had gone up so much since 2010. (I personally know at least 5 families who cash out during that period)
Its a waste of opportunity cost as well.
i have witness 2
haha...fire sales...
hoot..ar...buy and cheong up the market?...or sell down and allow those who are waiting on the sidelines to buy?
No one can really predict correctly. Look at those people who sold off their property, move in to stay with their parents or In laws, till date, they are still waiting....market had gone up so much since 2010. (I personally know at least 5 families who cash out during that period)
Its a waste of opportunity cost as well.
But if they have no position rt now (no holding of any property), they may benefit as "first-timer" no? :)
But if they have no position rt now (no holding of any property), they may benefit as "first-timer" no? :)
got record of their previous HDB purchase before..:o
so, they isn't first timer anymore..
The article is a bit self serving given it originates from the view of a person known as property agent .... Nevertheless a more cautionary approach should be taken and the fundamental old fashion rule remains: can you still afford the mortgage of the new private property if you are out of work for 6 months ? That to me is key and not mumbo jumbo number crunching articles that I profess not to know much about.
Regulators
31-01-13, 13:20
I will keep my hdb flat till I die. it is a good cash cow, collecting $2-3k a month in rental till I die so why sell?
again and again, he is saying to us....dont sell your HDB...:o see the plan?? capital appreciation is part of the big picture.
so still selling HDB?? :scared-5: :2cents:
extract from http://www.channelnewsasia.com/stories/singaporelocalnews/view/1235239/1/.html
"Everybody owns their own homes and the value of their homes go up as development takes place. Some are unwise enough to sell their homes, thinking they can buy another one, they then find they can't and have to rent a flat.
"But those who held on to their homes, I've seen their property values going up, five times, 10 times, 15 times, 20 times. This was the plan which we had from the very beginning, to give everybody a home at cost or below cost and as development takes place, everybody gets a lift, all boats rise as the tide rises."
got record of their previous HDB purchase before..:o
so, they isn't first timer anymore..
If they sold and dont own the property anymore still counted? Tao nao pai ah :doh:
Regulators
31-01-13, 13:59
Article: Don't Sell That HDB Flat
http://www.np.edu.sg/library/resources/subjectguides/wci/Documents/05.09.10sc.pdf
If they sold and dont own the property anymore still counted? Tao nao pai ah :doh:
What I meant in the earlier post is that ABSD 7% at least shldn't apply since the rule kicks in only when u (as SC) have one on hand, then thinking of getting a second one. But remission allowed if should later sell the first one, so all in all, net position is juz one property. So, thought if a person doesn't own anything aft having sold off, then 7% shldn't affect him. :o
I will keep my hdb flat till I die. it is a good cash cow, collecting $2-3k a month in rental till I die so why sell?
bro bro bro sama sama..:D:D:D...hdb flat is my best friend can shelter me can feed me...urghh actually better than friend cos friend always expect something in return but not my hdb....wahahaha:D:D:D
alamak ts is agent la of course he tell u to sell his ricebowl...:spliff2:
Regulators
31-01-13, 15:12
just hope no sers for my area coz very near mrt. if sers, i think govt should still compensate another flat even if i am a pc owner.
bro bro bro sama sama..:D:D:D...hdb flat is my best friend can shelter me can feed me...urghh actually better than friend cos friend always expect something in return but not my hdb....wahahaha:D:D:D
just hope no sers for my area coz very near mrt. if sers, i think govt should still compensate another flat even if i am a pc owner.
They compensate you but ask you sell off your PC since you will have fresh 5 years MOP how ? :D
They compensate you but ask you sell off your PC since you will have fresh 5 years MOP how ? :D
if you are compensated monetarily, you don't need to sell off your PC eh
Regulators
31-01-13, 15:18
the fact is these pc owners never ask to get into new 5 yr mop. let's say if i have another 60 years left on my flat when it goes en bloc, they cannot just take away my 60 years lease without compensating another flat on old terms. i think i have asked someone before with regard to this issue before and it seems we can still keep our pc and be compensated another flat, just that we cannot rent out perhaps.
They compensate you but ask you sell off your PC since you will have fresh 5 years MOP how ? :D
if you are compensated monetarily, you don't need to sell off your PC eh
take the $$ down on another MM.. voila. rental income steady steady.
phantom_opera
31-01-13, 16:47
The TS's call for selling does not make sense ... resale HDB is cash cow
Meanwhile, the number of S-Passes - meant for mid-skilled workers - went up to 142,400 from 113,900 previously.
If prices fall, those who bought at current high prices, which is a substantial number, will be angry with the govt, since it was promised that their assets will appreciate.
If prices continue to rise, first timers will be priced out and they will vote against the govt.
They are screwed, really.
government can only enable them. its up to them to be mobile. if they hold till retire. they have te option to sell and downgrade to smaller place. and have spare cash.
the more adventurous ones will fair better but there are risk. No Bao 1. want Bao go buy durian.
Pikachu1245
31-01-13, 20:00
the fact is these pc owners never ask to get into new 5 yr mop. let's say if i have another 60 years left on my flat when it goes en bloc, they cannot just take away my 60 years lease without compensating another flat on old terms. i think i have asked someone before with regard to this issue before and it seems we can still keep our pc and be compensated another flat, just that we cannot rent out perhaps.
from hdb website -
Existing Private Property Owners
If you, your spouse or essential occupiers of the SERS flat own a private property as at the SERS announcement date, you may retain ownership of the private property as an investment. However, you must continue to stay in the existing flat and the replacement flat after its completion. You may sell the private property at any time during this period.
If you wish to invest in another private property, you may do so only after the expiry of the minimum period of resale of the replacement flat, subject to our prevailing policies.
HDB InfoWEB: SERS Policies : Living in HDB flats : Selective En Bloc Redevelopment Scheme (e-SERS) (http://www.hdb.gov.sg/fi10/fi10329p.nsf/w/eSERSPolicies?OpenDocument)
hope the above puts u at ease. :cheers1:
Interest rates are exceptionally low making it an ideal environment for people to take loans, leverage , run businesses, you get the idea.
You do realise that this is not a good thing, yes?
Regulators
31-01-13, 20:41
so which means I was right, can keep pc but based on the rules, must live in the sers flat. basically hdb can't really control where we live so long as we don't rent the new flat out. but five years without rental from the flat would indeed be a waste so I would rather not have sers at all cost
from hdb website -
Existing Private Property Owners
If you, your spouse or essential occupiers of the SERS flat own a private property as at the SERS announcement date, you may retain ownership of the private property as an investment. However, you must continue to stay in the existing flat and the replacement flat after its completion. You may sell the private property at any time during this period.
If you wish to invest in another private property, you may do so only after the expiry of the minimum period of resale of the replacement flat, subject to our prevailing policies.
HDB InfoWEB: SERS Policies : Living in HDB flats : Selective En Bloc Redevelopment Scheme (e-SERS) (http://www.hdb.gov.sg/fi10/fi10329p.nsf/w/eSERSPolicies?OpenDocument)
hope the above puts u at ease. :cheers1:
Good IMO, old flat change to EC. Can buy EC instead of hdb?
Regulators
31-01-13, 20:50
I thought if old flat goes en bloc, you cannot buy ec but only the sers flats?
Good IMO, old flat change to EC. Can buy EC instead of hdb?
Forget it. Think not possible :tongue3:
If prices fall, those who bought at current high prices, which is a substantial number, will be angry with the govt, since it was promised that their assets will appreciate.
If prices continue to rise, first timers will be priced out and they will vote against the govt.
They are screwed, really.
which group has more? Government will take care of the group that has more!
When the government promise that property price will keep going up? I though they keep on warning about bubble in property with 7 CM.
Most of Singaporean owns HDB. So I believe they will do their best to ensure that this group is being protected.
Never sell that HDB flat unless you really have to.
I hear the latest batch of BTOs in AMK are about under $600k for a 4 room flat. the measures aren't trying to take down HDB prices, but more like trying to stop it from going up so that more first timers can get on a boat that isn't sailing away too quickly.
The anectodal evidence on a broader scale do not support TS' random claims of a correction in HDB housing prices.
Never sell that HDB flat unless you really have to.
I hear the latest batch of BTOs in AMK are about under $600k for a 4 room flat. the measures aren't trying to take down HDB prices, but more like trying to stop it from going up so that more first timers can get on a boat that isn't sailing away too quickly.
The anectodal evidence on a broader scale do not support TS' random claims of a correction in HDB housing prices.
ts is an agent what u expect:spliff2:
to fellow forummers, open your eyes and use agents you can trust. i've been using the same agent for the past 4 years.
i detest those who try to smoke their way around. i probably spend more time researching the market more than most of them do, i can see through their motives easily. i am not against them making money but they have to create a win win situation where there are clear benefits for me before they think about earning their comms.
Regulators
31-01-13, 22:53
best is to DIY, advertisements and documentation are the only two things there is to selling a property. If you need to sell through an agent, make your unit open listing and don't sign exclusive. I can usually find buyers as fast as an agent if i set my mind to it.
to fellow forummers, open your eyes and use agents you can trust. i've been using the same agent for the past 4 years.
i detest those who try to smoke their way around. i probably spend more time researching the market more than most of them do, i can see through their motives easily. i am not against them making money but they have to create a win win situation where there are clear benefits for me before they think about earning their comms.
best is to DIY, advertisements and documentation are the only two things there is to selling a property. If you need to sell through an agent, make your unit open listing and don't sign exclusive. I can usually find buyers as fast as an agent if i set my mind to it.
you are your own towkay and can take enquiries during the day. those who have a full time job that's very intense will find it harder. at the end, you can just factor the agents comms into your sale price.
oh i never sign exclusives that's for sure. i can verbally let an agent work on it alone, but if the need arises, i will open it up.
Regulators
31-01-13, 23:03
seriously, anyone can do it without wasting that commission that u can use to bring your family for a nice holiday. the only time i would use an agent is if there is a shortage of buyers for my kind of property and the agent needs to tap on his overseas lobang. so far for those agents i have come across, there is nothing they can do that you and i cannot. throw one advert out and going to the lawyers to sign papers is really easy.
you are your own towkay and can take enquiries during the day. those who have a full time job that's very intense will find it harder. at the end, you can just factor the agents comms into your sale price.
oh i never sign exclusives that's for sure. i can verbally let an agent work on it alone, but if the need arises, i will open it up.
i realised that the thread starter is no where to be found after his inital thread ? Would love to see his views now considering the array of counters to what he is suggesting :cool:
i realised that the thread starter is no where to be found after his inital thread ? Would love to see his views now considering the array of counters to what he is suggesting :cool:
he/she probably realised that he's not going to find any potential HDB sellers in this forum. lol.
MyPropertyAgent
01-02-13, 17:53
i realised that the thread starter is no where to be found after his inital thread ? Would love to see his views now considering the array of counters to what he is suggesting :cool:
Hi danguard,
i actually have a busy schedule at work and seldom reply to posts. But since you asked for me, here i am. :)
In all honesty, the objective of my post was to share with people the way to go, or rather the way i see it.
Yes resale hdb is a cash cow beyond any doubt. the ROE is high but there is little room for capital appreciation. ( Not in the next 3-4 years ). It makes perfect sense to cash out and invest somewhere else.
I am currently looking into the malaysian market, JB, KL and penang and the potential that it has. Will be making a few trips there in the coming months to analyse the market there.
Cheers!
Nonetheless, this is my opinion.
Should a person be judged by his or her username, i have better things to care about. Kudos
MyPropertyAgent
02-02-13, 15:20
he/she probably realised that he's not going to find any potential HDB sellers in this forum. lol.
anyway kane, everyone makes a living. dont you agree??
phantom_opera
02-02-13, 16:36
Limited caP appre yes, but leveraged yield can be 10pc renting out
anyway kane, everyone makes a living. dont you agree??
I agree. And we should make our living by creating win win situations.
Some hdb dwellers are less sophisticated investors and only have that asset. If they sold that and the market rallied, they'll be in a state of limbo. They need to be given an accurate assessment rather than half baked truths. The last I checked hdb prices in a few areas, prices were up in Jan 2013 again.
Hdbs are largely targeted at single home owners. And the cooling measures to date have been targeting to help single home owners.
Never sell that HDB flat unless you really have to.
I hear the latest batch of BTOs in AMK are about under $600k for a 4 room flat. the measures aren't trying to take down HDB prices, but more like trying to stop it from going up so that more first timers can get on a boat that isn't sailing away too quickly.
The anectodal evidence on a broader scale do not support TS' random claims of a correction in HDB housing prices.
I am new to this whole property talk and am feeling quite lost. Would appreciate honest and direct advice/opinion from everyone in here.
I currently have a fully paid 5-rm HDB in woodlands. Exploring the option of buying a condo. Should I sell my HDB? Or should I hold and rent it out?
Just 1 week ago, I was quite certain that holding on to this HDB unit would make more $en$e. Especially after the announcement came out that Woodlands will be developed into the next regional centre (our unit is less than 10min walk to MRT).
But yesterday's news re govt measures to bring down prices of HDB is causing me some worry.
KBW says it's "Time to relook housing policies for the future" (ST, 9 March 2013) and 1 of the 4 key questions he raised (Should Housing Board flats continue to be an appreciating asset or return to being treated simply as a social need?) made me wonder again if holding on to this Woodlands HDB unit is a good idea...
Any thoughts??
I am new to this whole property talk and am feeling quite lost. Would appreciate honest and direct advice/opinion from everyone in here.
I currently have a fully paid 5-rm HDB in woodlands. Exploring the option of buying a condo. Should I sell my HDB? Or should I hold and rent it out?
Just 1 week ago, I was quite certain that holding on to this HDB unit would make more $en$e. Especially after the announcement came out that Woodlands will be developed into the next regional centre (our unit is less than 10min walk to MRT).
But yesterday's news re govt measures to bring down prices of HDB is causing me some worry.
KBW says it's "Time to relook housing policies for the future" (ST, 9 March 2013) and 1 of the 4 key questions he raised (Should Housing Board flats continue to be an appreciating asset or return to being treated simply as a social need?) made me wonder again if holding on to this Woodlands HDB unit is a good idea...
Any thoughts??
at this current moment. dont expect make $ from private property in near term. if u intent to stay n u have cash and you are willing to pay the 10% tax. by all means.
if not u can consider upgrading from hdb given developers are offing % discount. Current market are for stay. investment u have to be prepared to hold a long time coz very very limited upside for now. plus u need to be aware of all the tax to keep the property.
Agree with minority. You have to be prepared for the much longer term and do your sums. Don't over lever.
Agree with minority. You have to be prepared for the much longer term and do your sums. Don't over lever.
Agree with minority and kane. The days of fast and fat profits from property investment look like coming to an end.
Got to wait for the next cycle, which in my opinion may take even more than 10 years.
at this current moment. dont expect make $ from private property in near term. if u intent to stay n u have cash and you are willing to pay the 10% tax. by all means.
if not u can consider upgrading from hdb given developers are offing % discount. Current market are for stay. investment u have to be prepared to hold a long time coz very very limited upside for now. plus u need to be aware of all the tax to keep the property.
We're currently looking for a condo for own stay, definitely not investment. Just a couple of days short of signing otp at this pt.
Now debating, weighing options - whether to let go HDB or hold on to it.
Some have suggested holding on to HDB for the long term.
While others suggested selling it.
Now another option for us: when condo TOP, cash out on HDB, reclaim the ABSD since now only left with 1 property, plow back profit+ABSD to get another pte property (shoebox? under the other spouse's name to avoid ABSD???) for rental income. Is this a feasible idea? :beats-me-man:
rattydrama
11-03-13, 21:57
Agree with minority and kane. The days of fast and fat profits from property investment look like coming to an end.
Got to wait for the next cycle, which in my opinion may take even more than 10 years.
its boring right? nothing to play liao until 10 years later...
i believe you have the option to decide what to do with the hdb after the condo you are looking to buy TOPs yes? then why rush to decide now?
rattydrama
11-03-13, 22:11
i believe you have the option to decide what to do with the hdb after the condo you are looking to buy TOPs yes? then why rush to decide now?
you asking me? well i immediately hoot on something else... time is $$$. in the recovery market cannot wait too long... now is maturing...can wait....
you asking me? well i immediately hoot on something else... time is $$$. in the recovery market cannot wait too long... now is maturing...can wait....
no ah, i was referring to that forummer wisteria.
you are savvy enough lah from the sound of your postings. don't need much inputs from other forummers.
rattydrama
11-03-13, 22:19
no ah, i was referring to that forummer wisteria.
you are savvy enough lah from the sound of your postings. don't need much inputs from other forummers.
no lah, still have plenty to learn from forumers here but seems like many old birds went missing for a long while. really miss them alot.
time to time still see some of them around here.
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