Property price is coming down fast

[sh]

property will drop >50% in 2.5 yrs time...

And he is sooooo certain. Not "I think it will drop >50%...." it's "property will drop >50%" Certainly very convicted....

In other forums.... forumers are openly speculating the direction of the market.... not Basic... he's dead certain that "property will drop >50%"......

[irisng]

Originally Posted by basic
only fool buy property now....I will not buy any property in next 2 yrs, even 3 yrs....whether is up or down, money is no problem, believe in your homework, skill & knowledge....do the right thing, let market be the judge....property only...stock, gold, commodity, currency, metal,oil...can also discuss if interested....

There haven't not enough "fools" buying properties yet, they might have probably taken your advice. Hence, bubble hasn't completely form yet.

"G" keeps on releasing lands, developers keeps on bidding for lands, new launch keeps on coming out, oh, we are all living in a "fool country" .

[xenewbie]

And he is sooooo certain. Not "I think it will drop >50%...." it's "property will drop >50%" Certainly very convicted....

In other forums.... forumers are openly speculating the direction of the market.... not Basic... he's dead certain that "property will drop >50%"......

imo more than 50% is abit far fetched. the basic fundamentals are still there but seeing the magnitude of the crisis this time i think it would be between 30-50% tops.

on the other hand it would be disasterous to see singapore fall to such a state. imagine more jobless, more social issues.. safety is going to be an issue and make us look unattractive to foreign investors so on one hand im hoping for a 30-40% dip but no more than that.

[Allthepies]

I hoping to grab another 2+1@Madeira, last transacted 860k I think, high floor, 20% discount means 700k. I willing to offer 750k, 50k above "valuation"

[hopeful]

a lot of people of making snide comments about buying firesales.
just pray that you still have a job left when recession strikes hard and deep. if not, there will be kind people helping to relieve you of your mortgage burden.

[phantom_opera]

a lot of people of making snide comments about buying firesales.
just pray that you still have a job left when recession strikes hard and deep. if not, there will be kind people helping to relieve you of your mortgage burden.

This depends on gearing ratio, make sure if jobless can cover for a few years lo

[howgozit]

Depending on your age and profession... some jobs once gone is gone forever.

[ysyap]

a lot of people of making snide comments about buying firesales.
just pray that you still have a job left when recession strikes hard and deep. if not, there will be kind people helping to relieve you of your mortgage burden.

Do you need me to extend my kindness to you?

[hopeful]

Do you need me to extend my kindness to you?

thanks for the kind offer. but I am currently letting go of the millstones around my neck

[Worsty]

imo its already formed lol. DBSS,EC, new launch almost snapped up fast with 70-80% from the locals.

You think so? Arc@tampines wasn't too popular..the showflat was packed and it certainly was oversubscribed but there's plenty of units left even for second timers.... Maybe this development happened to be the unpopular one. Didn't kaypoh any other EC showflat...

[xenewbie]

You think so? Arc@tampines wasn't too popular..the showflat was packed and it certainly was oversubscribed but there's plenty of units left even for second timers.... Maybe this development happened to be the unpopular one. Didn't kaypoh any other EC showflat...

imo the clementi one showed how much people are willing to pay for a DBSS.
good location but not value for money. its 5rm is about 700-800k. a hdb is afterall just a hdb.

im not so sure about the response with arc but from what i hear from agents is that he sold quite a few over there.. probably to second timers as what you mentioned.

[mygeemeel]

imo the clementi one showed how much people are willing to pay for a DBSS.
good location but not value for money. its 5rm is about 700-800k. a hdb is afterall just a hdb.

im not so sure about the response with arc but from what i hear from agents is that he sold quite a few over there.. probably to second timers as what you mentioned.

Sidetrack a bit. I visited Clementi DBSS Trivelis. The agent lao auntie very kancheong and rude. Kept pushing me to just sign up a unit since it is free application... all in less than 5 mins of viewing. Couldn't take her attitude and she was super rude. I shut her up by asking, "auntie, I got private properties liao so can I still buy?" Her eyes were wide opened and walked away immediately.

Sometimes I really wonder what is the real demand. The agents are telling everyone to just sign up first then decide later. This will create a false sense of demand and developers will assume popularity and start to increase prices.

The real buyers will be affected most. Can CEA take action against such agents?

[Worsty]

Depending on your age and profession... some jobs once gone is gone forever.

The worst affected ones are the insurance, financial adviser and real estate agents line of jobs if market goes pear shaped?

My company just increased headcount by 5% in the past month (NY and Singapore office combined, say 10 people?). Granted, we're a small private company but i must say my marketing VP is very smart. Targeting all the Ivy League Uni's endowment funds as a source of our revenue. Good times or bad times, there'll be people in school.

[basic]

Lets keep the discussion to Singapore. Where is the 10-20% drop? Are you referring to those condo asking for $1m end up close deal at $900k? Like that counted is it?

Think we should look at the URA transacted records. Is there a development which shows a 10%-20% downtrend in psf? I think it would be hard to find one even with 5% downtrend.

Anyway, it is hard to discuss in vacuum. In God we trust, all others bring data...

When China developers cut price, it's openly, TV, newspaper, you can easily available...unlike spore all hiding like thief, small group, relationship, agent...Spore developers already cut price 1-2 months ago by offering car, voucher of up to $50k-100k.....now they give direct discount, but have to negotiate like market, if you are serious, they will drop % by %...then call you next day, day after next....
print your cheque go out & shop, don't just sit in front of PC, wait for lobang...desperate now...unless they want to fake account & data, developers Q3 & Q4 sale result is definitely super ugly....they have tons of ways to fraud data till a bank or country default, then nobody hide, then all the worms will out.....
nobody talk in vaccum or god...it's all out there, wait till you see data..already behind the curve...

[Worsty]

imo the clementi one showed how much people are willing to pay for a DBSS.
good location but not value for money. its 5rm is about 700-800k. a hdb is afterall just a hdb.

im not so sure about the response with arc but from what i hear from agents is that he sold quite a few over there.. probably to second timers as what you mentioned.

Those dual key units and the carbana units caught my eye. Too bad, don't qualify anymore.

And i agree. The DBSS you mentioned, although a good location in a mature estate, is a HDB afterall.

[xenewbie]

Sidetrack a bit. I visited Clementi DBSS Trivelis. The agent lao auntie very kancheong and rude. Kept pushing me to just sign up a unit since it is free application... all in less than 5 mins of viewing. Couldn't take her attitude and she was super rude. I shut her up by asking, "auntie, I got private properties liao so can I still buy?" Her eyes were wide opened and walked away immediately.

Sometimes I really wonder what is the real demand. The agents are telling everyone to just sign up first then decide later. This will create a false sense of demand and developers will assume popularity and start to increase prices.

The real buyers will be affected most. Can CEA take action against such agents?

imo CEA cannot take action as she have not infringed any regulations but you can still lodge a complain against her and she'll probably recieve a warning for it. CEA is very strict these days so this will probably give her a wake up call.

if i were the agent, no point rush you also because if you are already there my job is already half done lol all i need to do is to explain the merits of the purchase and upcoming developments around the area etc. for that DBSS that is no lack of buyers so i dont get why is that auntie agent so kan chong anyway.

i used to have a friend who became an insurance agent. we knew each other for almost 12-14 years now but he became very pushy and stuff and its not like i couldn't afford it but i just couldn't take his attitude and i just didn't contact him again.

on the other hand i have another friend who didn't even mention insurance stuff when we met for coffee and talk cock session and the only time he mentioned was when i asked about it. this is what will attract my interest and how he will get all my business for all my needs in the future so i do understand how you feel lol.

[kane]

ok, so after endless pages of ranting, and for the benefit of those who are actually keen on getting some at a 20-50% discount, what are the developments offering such opportunities. Like what devilplate was suggesting, if you're passing on the opportunity, why not share it to the other members here? not like you have something to lose in something you didn't want in the first place.

[Worsty]

ok, so after endless pages of ranting, and for the benefit of those who are actually keen on getting some at a 20-50% discount, what are the developments offering such opportunities. Like what devilplate was suggesting, if you're passing on the opportunity, why not share it to the other members here? not like you have something to lose in something you didn't want in the first place.

I think another thread was started for that.

http://www.condosingapore.com/forums...ad.php?t=12292

[ecimbew]

Time for a break

Jokes time!

[basic]

all major banks in France & Germany, all down >10% shares price today...
DAX at 1 stage down >6%..now -4.8%....
nice....

China biggest developers Vanke, drop price in Beijing projects from RMB18000 to 14000 psm...
Shanghai bungalow...all price negotiable, if can pay cash, >40% discount...
another project in shanghai, down from RMB30000 to 17000 psm...

MF Global bankrupt...many sporean affected, just like lehman bros bonds, with global banks, financial & insurance companies all in high risks, even local banks in future, property developers....once this debt crisis press the button, which company you can trust?? If you go to China in 90s, tons of half completed building abandoned....you think spore will never happen in future?? let see how bad can coming crisis be....spore is financial center, most have branches here...

[DaytonaSS]

i used to have a friend who became an insurance agent. we knew each other for almost 12-14 years now but he became very pushy and stuff and its not like i couldn't afford it but i just couldn't take his attitude and i just didn't contact him again.

on the other hand i have another friend who didn't even mention insurance stuff when we met for coffee and talk cock session and the only time he mentioned was when i asked about it. this is what will attract my interest and how he will get all my business for all my needs in the future so i do understand how you feel lol.

Funny , ur friend care for u enough to push u to do something n yet u say things like that. Don't make mistakes like these when u can afford but postpone your responsibilities. The only time to buy is now, when u can afford, n when u think u don't need it.

I'm sure many old timers here can share with u their life experiences. 12 years friend hard to come by wor

[DaytonaSS]

MF Global bankrupt...many sporean affected, just like lehman bros bonds, with global banks, financial & insurance companies all in high risks, even local banks in future, property developers....once this debt crisis press the button, which company you can trust??..

Bro basic, MFG bankrupt y affect singaporeans. They bankrupt cos they buy bonds ma...... Not they issue......

U can trust any financial company product or deposits which fall under MAS gurantee acc or pdts umbrella. U can also trust the $$$$ which u break into small amt n deposit into all the local banks will not disappear.

[basic]

all major banks in France & Germany, all down >10% shares price today...
DAX at 1 stage down >6%..now -4.8%....
nice....

China biggest developers Vanke, drop price in Beijing projects from RMB18000 to 14000 psm...
Shanghai bungalow...all price negotiable, if can pay cash, >40% discount...
another project in shanghai, down from RMB30000 to 17000 psm...

MF Global bankrupt...many sporean affected, just like lehman bros bonds, with global banks, financial & insurance companies all in high risks, even local banks in future, property developers....once this debt crisis press the button, which company you can trust?? If you go to China in 90s, tons of half completed building abandoned....you think spore will never happen in future?? let see how bad can coming crisis be....spore is financial center, most have branches here...

last week, MF Global still tell the world they are strong & ok...yesterday, Monday, bankrupted....
nobody will tell you when they are going to bankrupt....when you know it already too late....
same as property market or crisis, wait till it happens.....down 30% also no buyers, so many sellers out there & no buyers....
Those sporean have money in MF Global Spore or trade CFD thru' Kim Eng/CIMB...most likely will not get back a single cts....

[basic]

Bro basic, MFG bankrupt y affect singaporeans. They bankrupt cos they buy bonds ma...... Not they issue......

U can trust any financial company product or deposits which fall under MAS gurantee acc or pdts umbrella. U can also trust the $$$$ which u break into small amt n deposit into all the local banks will not disappear.

MF Global operated in spore, many trade future, CFD with them....you need to put deposit, margin to open account....& normally you will not withdraw money out if you are regular traders...profit all keep in the account....like brokerage house, UOB kay hian....
MF Global not only transfer funds to Europe, lost big there...$Bil not accountable too..
local banks only guarantee $50k.....

[devilplate]

a lot of people of making snide comments about buying firesales.
just pray that you still have a job left when recession strikes hard and deep. if not, there will be kind people helping to relieve you of your mortgage burden.

I oredi jobless

[kane]

every since lehman, must practice cash discipline of sweeping the excess collateral back to your own account.

[devilplate]

I got 1mil cash in bank A and also got 1mil outstanding loan wif them....if bank A collapse, how?

[DaytonaSS]

MF Global operated in spore, many trade future, CFD with them....you need to put deposit, margin to open account....& normally you will not withdraw money out if you are regular traders...profit all keep in the account....like brokerage house, UOB kay hian....
MF Global not only transfer funds to Europe, lost big there...$Bil not accountable too..
local banks only guarantee $50k.....

Cannot trust these f**** from wall street. All kinds of creative ways of vaporizing our money.

But I noticed it's a Singapore pte ltd. So chances MAS could have ring fenced the $$$$ from parent company?? I know that happens for insurance companies.

[Geylang OKT]

wait another half year and the asking prices will be more than halved from now

[phantom_opera]

Short citi better down 14% oredi