View Full Version : Resale-flat prices may tumble 5-8 per cent
http://business.asiaone.com/property/news/resale-flat-prices-may-tumble-5-8-cent
believable or not?
btw - COV is dropping too.
Perfect storm of falling resale price & disappearing COV for upgraders moving into the 2014-15 mass market glut?
What do you guys think of the knock on effect in the PC market?
thomastansb
03-01-14, 09:43
Good. HDB should go back to basic. 300k for a 5 bedroom. It is public housing, not meant for profit. HDB at 1 million is a joke, a disgrace to Singaporeans. Hope HDB continue to drop. The more the merrier. 30 to 40% drop will be ideal.
http://business.asiaone.com/property/news/resale-flat-prices-may-tumble-5-8-cent
believable or not?
btw - COV is dropping too.
Perfect storm of falling resale price & disappearing COV for upgraders moving into the 2014-15 mass market glut?
What do you guys think of the knock on effect in the PC market?
What do you guys think of the knock on effect in the PC market?
lesser ppl able to upgrade to mass market condo.
demand for mass market esp in ocr will take the lead for price softening.
Good. HDB should go back to basic. 300k for a 5 bedroom. It is public housing, not meant for profit. HDB at 1 million is a joke, a disgrace to Singaporeans. Hope HDB continue to drop. The more the merrier. 30 to 40% drop will be ideal.
I don't disagree - HDB should not be a crippling burden to the common man.
I was just wondering how many people have done all their dreamworld upgrade calculations on
1) low interest rates forever
2) can borrow endless amounts at cheap prices (now got TDSR)
3) assumed they could sell their HDB for super high price (now cooling measure begins to bite)
4) assumed they would get big time COV for their HDB sale (as per 3)
i.e. everything going right & nothing going wrong.
HDB resale will not drop drastically but moderate to a limit of about 5% band. 2016 is not too far away. :scared-2:
Good. HDB should go back to basic. 300k for a 5 bedroom. It is public housing, not meant for profit. HDB at 1 million is a joke, a disgrace to Singaporeans. Hope HDB continue to drop. The more the merrier. 30 to 40% drop will be ideal.
if hdb resale price drop >10%, there will be a far cry papa cry mama liao
current asking $500k-$600k lost $50k-$60k leh ... don't play play
even without COV ... the artificial high valuation still stay
if all hell break lose, invisible hand will come in to hold the market
huat ah!!!
Good. HDB should go back to basic. 300k for a 5 bedroom. It is public housing, not meant for profit. HDB at 1 million is a joke, a disgrace to Singaporeans. Hope HDB continue to drop. The more the merrier. 30 to 40% drop will be ideal.
Good. HDB should go back to basic. 300k for a 5 bedroom. It is public housing, not meant for profit. HDB at 1 million is a joke, a disgrace to Singaporeans. Hope HDB continue to drop. The more the merrier. 30 to 40% drop will be ideal.
Is this a wind-up? Maybe foreigners on employment passes should be made to pay a defence tax of 10%, which goes to improving NSFs & NS Men incomes.
At 10% additional, it is still vastly lower than what they would need to pay in their home countries. How's that for a wind-up?
On a more serious note, I see a stable (or in other words, stagnant) market for the next 2-3 years in all segments. There is potential for ABSD to be reduced, in response to actual price movements.
Prices had increased much over these few years. Any drop in wont put sellers in negative equity... 10% is the min.
Who will buy resale now given the introduction of MSR, restriction of new SPR, good supply of BTO flats, etc. Upgraders who have committed to PCs will be caught on both ends.
I don't disagree - HDB should not be a crippling burden to the common man.
I was just wondering how many people have done all their dreamworld upgrade calculations on
1) low interest rates forever
2) can borrow endless amounts at cheap prices (now got TDSR)
3) assumed they could sell their HDB for super high price (now cooling measure begins to bite)
4) assumed they would get big time COV for their HDB sale (as per 3)
i.e. everything going right & nothing going wrong.
thomastansb
03-01-14, 12:31
That is why I say, HDB should just go back to basic. 200 to 300k resale can already. Profit for what? It is not meant to be profitted in the first place.
I don't disagree - HDB should not be a crippling burden to the common man.
I was just wondering how many people have done all their dreamworld upgrade calculations on
1) low interest rates forever
2) can borrow endless amounts at cheap prices (now got TDSR)
3) assumed they could sell their HDB for super high price (now cooling measure begins to bite)
4) assumed they would get big time COV for their HDB sale (as per 3)
i.e. everything going right & nothing going wrong.
thomastansb
03-01-14, 12:34
No la. All Singaporeans want HDB to be affordable. We shouldn't see 1M dollars transactions. This is stupid. HDB should be cheap. Buy 250k, sell 250k, period. If not, vote the government out.
if hdb resale price drop >10%, there will be a far cry papa cry mama liao
current asking $500k-$600k lost $50k-$60k leh ... don't play play
even without COV ... the artificial high valuation still stay
if all hell break lose, invisible hand will come in to hold the market
huat ah!!!
No la. All Singaporeans want HDB to be affordable. We shouldn't see 1M dollars transactions. This is stupid. HDB should be cheap. Buy 250k, sell 250k, period. If not, vote the government out.
while i agree 1M resale HDB transactions shouldn't be a norm, but i shall hold my breath as the Pinnacle approaches its 5yr MOP mark.
No la. All Singaporeans want HDB to be affordable. We shouldn't see 1M dollars transactions. This is stupid. HDB should be cheap. Buy 250k, sell 250k, period. If not, vote the government out.
crazy bo?? bird talk leh ... To the layman: Now new HDB price already how much? u think resale can be lower than that? is HDB a property type which some dream to be a depreciating asset? :confused: ...To garmen: if the above occurs...it will cause a complete revamp of policies??
the consequences unimaginable....think about it when u hv nothing to do when doing yr big business.... in the loo...LOL
while i agree 1M resale HDB transactions shouldn't be a norm, but i shall hold my breath as the Pinnacle approaches its 5yr MOP mark.
If buyer do not mind location. 1mio can still get some off skirt condos with decent facilities.
What say u..?:beats-me-man:
certainly it's possible, just can't be too picky about the location and size.
however, we are talking about HDB resale flats now.
certainly it's possible, just can't be too picky about the location and size.
however, we are talking about HDB resale flats now.
It's a chain link factor, and especially prices can comfortablely pay for better status.. Even if its a resale Hdb topic
That is why I say, HDB should just go back to basic. 200 to 300k resale can already. Profit for what? It is not meant to be profitted in the first place.
Do you think if there is any transaction at this price. The HDB holders have at least finished their primary school education, right?
(1). assuming a HDB 3rm is only priced at 200k. No matter how lousy the location is, the rent of a 3rm HDB should be at least 1.5k. what's the yield?
(2). Assuming he die die wants to upgrade to PC, how much can the 200k help him? He can proceed only under one occasion: the PC price drops more than 50%.
thomastansb
03-01-14, 20:02
No la. All Singaporeans want resale houses to drop and to be dirt cheap. This should be the way. It is a public housing, not meant to earn profit. HDB should control the price. Buy 250k, can only sell at 250k. No one should even earn $1 from HDB. And it is NOT an asset. HDB is a shelter, not an asset. In 2011, Singaporeans already voice out that 1M HDB is unacceptable. Luckily the Government listen to us but the Government need to do more. 500k for a 4 bedroom in buangkok is too expensive. Should be priced at 300k only.
crazy bo?? bird talk leh ... To the layman: Now new HDB price already how much? u think resale can be lower than that? is HDB a property type which some dream to be a depreciating asset? :confused: ...To garmen: if the above occurs...it will cause a complete revamp of policies??
the consequences unimaginable....think about it when u hv nothing to do when doing yr big business.... in the loo...LOL
thomastansb
03-01-14, 20:05
1) What yield are we talking about? HDB should have never allow people to rent out their HDB, period. It is basic and public housing. It is a SUBSIDISED housing. Why are we allowing people to benefit from it? It is funded by tax payer and as a form of basic shelter only.
2) Want to upgrade, earn more. HDB shouldn't be used for profit. Singaporeans have already complained in 2011 GE. Oppositions are geniuses. HDB is way too expensive. Chee Soon Juan has the foresight. 50 to 100k flats that can only be resold back to HDB is the right policy.
Do you think if there is any transaction at this price. The HDB holders have at least finished their primary school education, right?
(1). assuming a HDB 3rm is only priced at 200k. No matter how lousy the location is, the rent of a 3rm HDB should be at least 1.5k. what's the yield?
(2). Assuming he die die wants to upgrade to PC, how much can the 200k help him? He can proceed only under one occasion: the PC price drops more than 50%.
1) What yield are we talking about? HDB should have never allow people to rent out their HDB, period. It is basic and public housing. It is a SUBSIDISED housing. Why are we allowing people to benefit from it? It is funded by tax payer and as a form of basic shelter only.
2) Want to upgrade, earn more. HDB shouldn't be used for profit. Singaporeans have already complained in 2011 GE. Oppositions are geniuses. HDB is way too expensive. Chee Soon Juan has the foresight. 50 to 100k flats that can only be resold back to HDB is the right policy.
Because you are comfortable the way things are working here that is why you are thinking this way.
If you are living in other country where the masses rule, you will be shot.
If you want to draw a greater line in Singapore, be prepared to protect yourself.
Because you are comfortable the way things are working here that is why you are thinking this way.
If you are living in other country where the masses rule, you will be shot.
If you want to draw a greater line in Singapore, be prepared to protect yourself.
What are you talking about?
No matter how lousy the location is, the rent of a 3rm HDB should be at least 1.5k. what's the yield?.
You must be very young. In 1998-early 200x, a 5rm flat near MRT is only renting for 1500.
Depends on where lah... Near Kovan MRT 5rm HDB flat only $1100 pm... :beats-me-man:
HillView 3BR private condo unit also $1200 pm... :banghead:
You must be very young. In 1998-early 200x, a 5rm flat near MRT is only renting for 1500.
Depends on where lah... Near Kovan MRT 5rm HDB flat only $1100 pm... :beats-me-man:
HillView 3BR private condo unit also $1200 pm... :banghead:
Really? Surburbs like simei commanding 1.3-1.5k for 2br condos during the worst period after 97. 3 rm flat in the east is around $800 min.
What are you talking about?
To achieve peace and progress
We cannot have a system where
If the rich puts out money, it will grow.
And
If the masses people puts out money, its finished.
The masses must also be put to have a stake.
Everyone must progress together but some will be faster than others that lead to social gap which in turns make the place unsafe. Singapore is doing quite well in this aspect but you can see more social benefits are given out in the last 5 years. It may be the initiation of other problems where people are waiting for handouts. This is sustainable only if a nation continues to do well. You can see the high attrition of lawyer in Singapore. People are getting impatient and like instant noodle (earn quick and easy money) but not long brewed tonic. :beats-me-man:
To achieve peace and progress
We cannot have a system where
If the rich puts out money, it will grow.
And
If the masses people puts out money, its finished.
The masses must also be put to have a stake.
You must be very young. In 1998-early 200x, a 5rm flat near MRT is only renting for 1500.
In 1998, 10kg rice cost about S$15, 900g baby milk powder cost about S$20.
At that time, HillView just got started up, many new projects TOP, and relatively new, then hit by crisis... That is why, I always buy a property where the surroundings are fully built up, very little or no land to build new condo, not those with surrounding full of empty land or new condos still building up... See that consequence with HillView? Which place will be the next like HillView? JLD may be? :rolleyes:
Really? Surburbs like simei commanding 1.3-1.5k for 2br condos during the worst period after 97. 3 rm flat in the east is around $800 min.
In 1998, 10kg rice cost about S$15, 900g baby milk powder cost about S$20.
You honestly think HDB rental today is a result of inflation ? Such that, as you put it, "any location a 3rm HDB can get 1500 rental" ?
You honestly think HDB rental today is a result of inflation ? Such that, as you put it, "any location a 3rm HDB can get 1500 rental" ?
Honestly, i am not an expert on it. I only notice that some 3rm hdb are rented at S$2800, therefore, I just think it won't be difficult to rent a lousy HDB at half that price. At least, I do not mind moving from a good locaiton to a lousy location, if I can save the payment by that much. Afterall, SG is not that big, right?
Honestly, i am not an expert on it. I only notice that some 3rm hdb are rented at S$2800, therefore, I just think it won't be difficult to rent a lousy HDB at half that price. At least, I do not mind moving from a good locaiton to a lousy location, if I can save the payment by that much. Afterall, SG is not that big, right?
by the way, when thosantanb said HDB price at $200k, he should be referring to the average price, right? Otherwise, I think there is still lousy 3rm HDB at about 200k, no need to wait the HDB price to drop 30% to 40%.
by the way, when thosantanb said HDB price at $200k, he should be referring to the average price, right? Otherwise, I think there is still lousy 3rm HDB at about 200k, no need to wait the HDB price to drop 30% to 40%.
I think thomastanb is trying to remind in a more exaggerated way that opposition and so many people complained during last election of high hdb prices and therefore they should not complain now that hdb prices are falling.
Thomastanb - forgive me if I read your intention wrongly :ashamed1:
I think thomastanb is trying to remind in a more exaggerated way that opposition and so many people complained during last election of high hdb prices and therefore they should not complain now that hdb prices are falling.
Thomastanb - forgive me if I read your intention wrongly :ashamed1:
I also ha such a feeling after reading all the later posts. there are several such forummers here so that I am too old to remember all the context and link the dots properly.
thomastansb
06-01-14, 14:35
How many can they shoot? Don't forget, Singaporeans were the ones shouting at the Government that the resale prices are way too expensive. Million dollars HDB, my son cannot afford 1 million dollars HDB etc. All these are said by Singaporeans.
Because you are comfortable the way things are working here that is why you are thinking this way.
If you are living in other country where the masses rule, you will be shot.
If you want to draw a greater line in Singapore, be prepared to protect yourself.
thomastansb
06-01-14, 14:38
Precisely. That is what we Singaporeans wanted. Why are we making so much noise when we got what we ask for? If resale dropped 30 to 40%, 5 years MOP removed and back to 1 year MOP, I will buy one 3 bedroom.
I think thomastanb is trying to remind in a more exaggerated way that opposition and so many people complained during last election of high hdb prices and therefore they should not complain now that hdb prices are falling.
Thomastanb - forgive me if I read your intention wrongly :ashamed1:
but did anyone complain about cheap HDB? :confused: too many bashing thread, cannot rem
How many can they shoot? Don't forget, Singaporeans were the ones shouting at the Government that the resale prices are way too expensive. Million dollars HDB, my son cannot afford 1 million dollars HDB etc. All these are said by Singaporeans.
i believe there is another facet of the discussion that we are leaving out - wages. the issue is affordability, rather than purely price alone. if wages, of the general population, were to rise at an equal rate, i doubt there would be major grouses. this is only but one factor among the myriad that we are not even touching on.
thomastansb
06-01-14, 15:21
I agree. HDB should just crash 30 to 40% to make it affordable. It is a public housing scheme. How can we have HDB that is 1 million dollars. It is ridiculous. A 5 bedroom resale should be selling at 300k only.
i believe there is another facet of the discussion that we are leaving out - wages. the issue is affordability, rather than purely price alone. if wages, of the general population, were to rise at an equal rate, i doubt there would be major grouses. this is only but one factor among the myriad that we are not even touching on.
I agree. HDB should just crash 30 to 40% to make it affordable. It is a public housing scheme. How can we have HDB that is 1 million dollars. It is ridiculous. A 5 bedroom resale should be selling at 300k only.
and that would set a good majority of the 80% populace into negative equity......wouldn't that be suicidal for HDB (and the cause of many suicides to come)?
and that would set a good majority of the 80% populace into negative equity......wouldn't that be suicidal for HDB (and the cause of many suicides to come)?
Why will this happen? I believe not matter what happen, it will not go below BTO prices which will be the minimum value of the flat. So if you get the flat from HDB at BTO prices and the lowest price is BTO prices, may I ask how will this causes suicides? :cheers1:
I believe only those who pay high COV will be the one suffering. But they will not suicide as they pay in CASH.. and this will be a small group of people anyway... :o
You think our garmen don't know the group of people that they want to please in order to win 2016 GE. Then you really think too highly of yourselves as you think you are smarter than them.:doh: If so, please run for election and take over their place...:D
thomastansb
06-01-14, 15:43
Majority of the people buy below 300k. It won't be negative for 80% of the people. Maybe 1-2% but that is their problem already. As long as HDB prices come down, the Government has done a great job. This is what we wanted in GE2011 and I will be watching them in GE2016. Make sure HDB prices come down and no more stupid million dollars HDB shit. HDB should just be sold as a shelter. No profit, nothing.
and that would set a good majority of the 80% populace into negative equity......wouldn't that be suicidal for HDB (and the cause of many suicides to come)?
thomastansb
06-01-14, 15:44
The Government needs to hear our voices. Can't they see GE2011 result? Watershed election as they called it. Partly due to high HDB prices. Prices have to come back to 2000 level. 300k for a 5 bedroom.
Why will this happen? I believe not matter what happen, it will not go below BTO prices which will be the minimum value of the flat. So if you get the flat from HDB at BTO prices and the lowest price is BTO prices, may I ask how will this causes suicides? :cheers1:
I believe only those who pay high COV will be the one suffering. But they will not suicide as they pay in CASH.. and this will be a small group of people anyway... :o
You think our garmen don't know the group of people that they want to please in order to win 2016 GE. Then you really think too highly of yourselves as you think you are smarter than them.:doh: If so, please run for election and take over their place...:D
Why will this happen? I believe not matter what happen, it will not go below BTO prices which will be the minimum value of the flat. So if you get the flat from HDB at BTO prices and the lowest price is BTO prices, may I ask how will this causes suicides? :cheers1:
I believe only those who pay high COV will be the one suffering. But they will not suicide as they pay in CASH.. and this will be a small group of people anyway... :o
You think our garmen don't know the group of people that they want to please in order to win 2016 GE. Then you really think too highly of yourselves as you think you are smarter than them.:doh: If so, please run for election and take over their place...:D
there are people who bought resale eh........it isn't merely COVs. if resale prices were to drop to that of new BTOs, it's unthinkable what would happen :scared-5::scared-5:
i'm definitely no smarter than the garmen, just postulating consequences and scenarios here.
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