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Thread: Sharpest rise in private home prices in 7 years

  1. #31
    Unregistered Guest

    Default Re: Sharpest rise in private home prices in 7 years

    Quote Originally Posted by If
    If. OK, got it.

    If it go up, I will find it harder to buy.
    Wow! Better buy now.
    You got it wrong
    If it go down, you can't sell, not just harder to sell (harder to sell in a falling market are only meant for stocks, not property).

  2. #32
    Unregistered Guest

    Default Re: Sharpest rise in private home prices in 7 years

    The difference is, in 1995 Singapore had no future. Nothing much to its name.

    In 2007, Singapore has a glorious future. Look at all the economic and physical infrastructure work! Banking and private equity, education, biotech, IT, medical, F1, IR, etc etc etc.

    Singapore is already planning until 2050 for the moat project to fight rising sea levels. Tell me which country in the world would have planned so far ahead!

    Singapore is a different place now. Bet on it, or bet against it. I bet heavily on it. Hopefully my personal fortunes will follow the same direction of the country's fortunes.



    Quote Originally Posted by MGM Grand
    There seems to be 2 schools of thoughts here! The hard-core optimist and the doomsayers...... I can't help but sense the doomsayers are the older lot who have seen booms in the past and optimists.... maybe the younger lot ... no offence.


    me....I'm neutral....I was burnt in 1995 boom market.

    I remember then....no different from now. Buying frenzy....I also remember when Goh Chok Tong implemented speculation controls to cool the market ... It was of course the currency crisis that ended it all.... Double whammy. The price I paid was holding on to 3 luxury apts for 12 years... I don't even dare to imagine the equivalent cost at today's prices.....


    I agree with a comment made....property is not liquid!!! You guys must remember that. No one can tell how long the up trend lasts. The down can be a 1 way ticket to bankruptcy if you're not liquid enough to hold.

    I only advice that you play with what u can comfortably afford. Interest rates are not the nice 3.25% the bank advertises, installments can double with little notice.

    Interesting note: Banks only up interest rates. They never ever lower it for you voluntarily. You'll have to pay them fees and legal cost each time you want them to lower it......


    If you have done your numbers....by all means take the plunge. If not...please exercise caution.


    I was burnt and some of you can say I'm dumb. Maybe just my luck. I don't wish the same for anyone out there. I recently sold the last of my luxury apt in Tg Rhu at record high price..... My friends adviced me to hang-on for 2 more years... I told him I'm servicing a loan of close to 10k a month. In 2 years time I would have paid an adiitional 240k. Would the increase be more than 240k? Maybe? who knows. I just won't gamble another 12 years of my hard earned money..... 10k a month is a nice Europe holiday every month.... I'm free of all loans now and looking forward to my fully paid condo.

    Back in 1995, we had to pay 20% down, maybe that's why the up-trend was more muted. I paid close to 300k down for my $1.25million property incl stamp duty. Now, with deferred payment 5% down seems a paltry amount. And many are taking risks far greater. Even scarier is every property in 9, 10,11,21,15.....are all above a million, way above. wow!


    Just a little advice from me... for the seasoned players, I wish u good luck.

    For the young, executive, pmeb, employee type.... doin your numbers and cutting it fine... think carefully.

  3. #33
    MGM Grand Guest

    Default Re: Sharpest rise in private home prices in 7 years

    Quote Originally Posted by Unregistered
    The difference is, in 1995 Singapore had no future. Nothing much to its name.

    In 2007, Singapore has a glorious future. Look at all the economic and physical infrastructure work! Banking and private equity, education, biotech, IT, medical, F1, IR, etc etc etc.

    Singapore is already planning until 2050 for the moat project to fight rising sea levels. Tell me which country in the world would have planned so far ahead!

    Singapore is a different place now. Bet on it, or bet against it. I bet heavily on it. Hopefully my personal fortunes will follow the same direction of the country's fortunes.





    As you have rightly put it!!! the word is BET!!

    My objective for posting is to share, not to change Singapore's or your fate. I do wish you all the best....

  4. #34
    Join Date
    Apr 2007
    Posts
    152

    Cool Re: Sharpest rise in private home prices in 7 years

    Quote Originally Posted by MGM Grand
    As you have rightly put it!!! the word is BET!!

    My objective for posting is to share, not to change Singapore's or your fate. I do wish you all the best....
    Bro, u goto understand. The casino has not started, but the gambling has.

  5. #35
    Master Gambler KY Lee Guest

    Default Betting Time

    Quote Originally Posted by hayata1972
    Bro, u goto understand. The casino has not started, but the gambling has.

    Come on guys! We are Asians. Gambling is in our blood.
    Put your bets on one of the 5 scenarios below:

    1. Singapore will make it for another 20 years (with jobs and home-ownership for the majority of the citizens) after been kicked out of Malaya.
    "No bet cos' Singapore will not make it by 1985."

    2. Singapore will transform from a 3rd-world country to one of the 4 Asian Tigers.
    "No bet cos' Singapore will disappear on the earth as a 3rd-world country."

    3. Singapore will become a 1st-tier 1st-world country by 2015.
    "No bet cos' no way this will happen."

    4. There will be IRs, theme parks, world-class sports events, etc. in Singapore.
    "No bet cos' this will never never happen."

    5. There will be recession and property prices will go down.
    "YES, MY BET is on scenario5 cos' there is no hope for Singapore."


    Nobody knows the outcome of the 5 scenarios.
    That's what make gambling so exciting!
    There is no right or wrong.
    Just place your bet on one of the 5 scenarios.

  6. #36
    Buyer Guest

    Default RE: Prime London Property Prices At 30-Year Highs

    Quote Originally Posted by Reuters
    Reuters
    London, UK
    20 May 2007

    Prime central London property prices are growing at their fastest in almost 30 years -- and at 3 times the rate of the wider British market, figures show.

    The value of the best properties in central London has risen by more than 33% in the 12 months to end-April, according to estate agent Knight Frank's prime property index.

    That is the fastest rate of growth since mid-1979 and means prices in central London are rising at three times the UK average.

    A property worth just 100,000 pounds in 1976 would now be worth more than £4.1 million, the index shows.

    Knight Frank said demand had been supported by growing numbers of overseas buyers and money spent on property by City bankers.

    Over the past year, Belgravia and Knightsbridge have seen the strongest market, with prices surging by more than 40%.

    Head of residential research Liam Bailey said: "London's traditional spring market rush starts earlier and earlier every year. For the past two years, the season has opened in December rather than March, and has run on well into May.

    "The early part of 2007 saw an incredibly active market, with price growth totalling nearly 11.9% in the first quarter."

    He said, even after 18 months of strong price appreciation, the pace of growth was yet to slow and, if anything, had quickened.

    In the six months to end-April, monthly price growth averaged 2.8%, against 1.7% in the same period last year.

    "The strong performance of the top end of the market can be attributed, at least in part, to the continuing health of the City economy and the bonus season," said Bailey.

    "However, it is our experience that, whilst there have been growing numbers of deals completed by City workers, it is the influx of overseas buyers -- European, Russian, Indian and increasingly Middle Eastern -- which is the key to the substantial price growth seen in many areas of central London."

    Knight Frank data shows that the supply of available property fell by more than 50% in the first quarter of 2007, compared to a 17% rise last year.

    Looking forward, Bailey believed stock shortages would continue to buoy the market.

    Higher transaction costs -- stamp duty, in particular -- mean people are moving less often, while the introduction of home information packs (HIPs) this summer is also likely to cause a drop in supply, he said.

    The controversial packs -- designed to making the home-buying process more efficient, cut the number of transactions that fall through and encourage homeowners to reduce energy consumption -- are due to come into force in England and Wales on 1 June, but have met fierce opposition.

    HIPs are expected to cost sellers around £500 and estate agents have been reporting a rush to complete deals ahead of their introduction.

    The Knight Frank prime central London residential index charts the value of property at the top end of the market: flats and penthouses with an average value of £2.5 million and houses valued at close to £5 million.

    Wow!
    Highest in 30 years!
    Singapore is only at its 7-year high!
    There is still a lot of room for growth in Singapore.
    Better go grab more to ride on this growth man!

  7. #37
    Market Watcher Guest

    Default Re: Prime London Property Prices At 30-Year Highs

    Quote Originally Posted by Buyer
    Wow!
    Highest in 30 years!
    Singapore is only at its 7-year high!
    There is still a lot of room for growth in Singapore.
    Better go grab more to ride on this growth man!

    How to close the gap?
    Many of the foreigners don't even know that Singapore exists.
    We need a publicity drive to create awareness in them.

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