Many property owners are desperate...

[minority]

My friend bot a condo unit at River Valley yesterday. In fact, they started viewing before CM6.

Their calculation :
Inflation is 4.5% a year, it will stay high, how to fight with this inflation?
Interest rate low, and remain low.

How they do?
transfer the name of the only private propperty as single owner, pay only 3% of the half portion (subject to confirmation from lawyer)

buy the second property under the other's name as first property and still taking 80% loan.

well effectively u still pay 6% + lawyer fees

3% to transfer 1st property

3% to pay for the 2nd property

unless ur 2nd unit is bigger if smaller then the 1st the saving is not much.

[ZeeWee]

so those ground floor units facing road went for 7000psf?

Sorry don't have the full price list as the Developer invites sold some on Sunday night.. but around $6kish

[minority]

Singapore HDB policy is Santa Claus Policy.

"What? Am I hearing this correctly," many young bothers and sisters now wondering if I am now typing from the IMH ( Institute of Mental Health).

Let me explain before you jump to any conclusion.

A NEW HDB gave the buyer an UNFAIR ADVANTAGE over the rest of the market segments. How so?

Because it is a very Heavily Subsidised Investment. So UNFAIR that your humble brother sometimes imagine the HDB to be headed by Santa Claus giving away free monies !

The construction costs itself for a single unit already well surpassed the price each citizen pay for a new HDB. Let alone if we were to take into consideration infrastructural costs or intangible benefits like lift lobby, carparks, gardens, public facillities like libraries and shopping malls.

To add to this ridiculous charitable act, the Singapore Government actually built MRT stations ( or MTR as known in Hong Kong, or Subways as known in angmo cities ) and light rails system within walking distance of the new projects.

Not surprisingly, the new HDB or new EC are always closer to MRT stations than the private condos. There is only one exception in the Lion City and that is ION Orchard.

What were they thinking? Unlike the Minister who spent countless sleepless nights thinking about how to curb the sizzling hot Singapore property market; your humble brother here spent countless sleepless nights wondering if HDB is really headed by Santa Claus.

Where on this Planet's developed cities can you find a new 900sqft 3 bedder apartment selling for less than S$500,000? If you convert that into British Pound or Swiss Franc, it looked even more ridiculous!

Indeed, HDB is giving you free monies- albeit not in the form of hard cold cash, but in a form of market asset value which eventually you can choose to convert into cash if you want to.

A quick mental work by your humble brother, for each new HDB unit, the buyer stands to gain at least S$20,000 from the construction costs, and at least an additional S$80,000 if you compare a similar sized HDB resale unit.

A new BTO investment of about S$300,000 would be worth around S$400,000 if put into the resale market after complying the minimum occupation period. And that is just conservatively calculating.

Then, for those uncles and aunties who bought their Marine Parade New HDB for less than S$100,000 20 years ago, it became even more ridiculous when a recent unit there was sold for a COLD HARD S$1,000,000.

Now, if we even take a high inflation modal rate of 5% annually for 20 years, the uncles and aunties still stand to gain more than S$700,000 in present value terms !


NOW YOU GET IT?

Well, if you are a young investor with little capital, you should try to get married and then ballot for Executive Condo, BTO or HDB. Then, get a loan from HDB or bank to service your asset.

Getting a HDB immediately after your marriage will have gotten you started a few hundred meters ahead from the rest of your peers in the long property investment marathon.

PAP government is on the right track, dun be brainwashed by the Internet forums.

see what my mentor said:

http://www.youtube.com/watch?v=e7D3_eGaO5k


HDB Policy is also my Grandmother's Policy.

"You can't be serious," I heard young punks saying this infront of their iPhones to me again.

Read My Lips: HDB POLICY IS MY GRANDMOTHER'S POLICY !

wow...that was just scary man......before you tell on me and get me to lim kopi, let me quickly tell you a story:

Only a few brothers and sisters here are aware, I got to where I am today because I was born with a silver spoon. Or... I was born into a disgustingly rich family la. But anyway, that's another story.

You see, I got a head start in property investment using a S$500,000 seed money given by my 100 years old grandmother on my 19th birthday la. ( Very paiseh...I play cheat la.....WOAHAHAHEHHEHEHEHEH )

However, all is not lost! The roads to Rome are all different, but the destination is the same, my good young brothers and sisters.

"I feel like smashing his face," indeed, my third eye heard you !

Anyway, before you got all angry...listen to me for a sec.

When you buy a HDB, the subsidised rate they gave you, is.......

JUST LIKE THE SEED MONEY MY GRANDMOTHER GAVE ME !


BINGO! Now you believe that I am an enlightened being with a THIRD EYE liao bo?

Totally agree...

LIKE+++

[DaytonaSS]

There are still quite a a few doors open la ! Just work harder lor!

Cant tell u more, if not later like ZeeWee's client - kenna jump Q!~
Ok if you are the jumper, but I am usually the jumpee. hahaha!

DKSG

work very hard liao leh. any harder will overtake cow liao. LOL 1 month save 10k also need few years to DP shop house now. Damn sian

[kane]

Sorry don't have the full price list as the Developer invites sold some on Sunday night.. but around $6kish

oh ok, so plus GST, it'll be around $7k...

[economist]

No, 3% is on your share of the existing property. The problem is more with the situation where you may have loans on existing property which makes transfer somehow more troublesome. Plus, transfer is considered sales, so SSD would be imposed if the unit is sold within 4 years.

well effectively u still pay 6% + lawyer fees

3% to transfer 1st property

3% to pay for the 2nd property

unless ur 2nd unit is bigger if smaller then the 1st the saving is not much.

[economist]

Please refrain from using attacking words, and keep the forum a polite place as it has been.

Emotion is an important factor to consider, and market sentiment has a great influence on the trend, this is exactly how Fed and ECB succeeded in reining the crisis, and the CM7 is going to play the other way round by gripping on the residential demand.

The hot commercial/retail/strata office is another proof of the dramatic reduction in demand in residential space, as investors are forced to leave residential and look for greener pastures.

Again, as I pointed out in the beginning, market may start to tilt towards to the buyers in the residential market as the reduction of demand will far outstrip the reduction in supply, so it doesn't make sense talking about things like holding your residential property tight tight.

[rockinsg]

Please refrain from using attacking words, and keep the forum a polite place as it has been.

Emotion is an important factor to consider, and market sentiment has a great influence on the trend, this is exactly how Fed and ECB succeeded in reining the crisis, and the CM7 is going to play the other way round by gripping on the residential demand.

The hot commercial/retail/strata office is another proof of the dramatic reduction in demand in residential space, as investors are forced to leave residential and look for greener pastures.

Again, as I pointed out in the beginning, market may start to tilt towards to the buyers in the residential market as the reduction of demand will far outstrip the reduction in supply, so it doesn't make sense talking about things like holding your residential property tight tight.

Title of thread should be changed to..desperate buyer urging owners not to hold tight tight .

And no no matter how emotional you are, it won't rein in prices either We have seen mr B before. Months and months of hard work, poor despo guy .

[economist]

I have been talking about the government measures and the market forces in general (reduction of demand, and market sentiment), so don't quote me wrongly. And pls don't anyhow link me with others. Good night.

[DaytonaSS]

Again, as I pointed out in the beginning, market may start to tilt towards to the buyers in the residential market as the reduction of demand will far outstrip the reduction in supply, so it doesn't make sense talking about things like holding your residential property tight tight.

4yrs SSD is given any buyers in the last 2 years need to hold tight tight ma.....

does your reduction in demand point to investment demand or housing demand as in physical place for some to reside in? the demand to reside is holding up but the supply of housing needs time to build. In fact the huge ramp up in supply by MND is to cater to housing need so to moderate prices?

Only demand supply relationship possibly happening is housing demand is lower and physical supply is increased, that leads to a price drop.

maybe very late liao, mind not working, i cannot comprehend how supply can reduce, alot of enbloc?

[kane]

Let's see what is in that white paper before we conclude if there will be a reduction in demand.

[economist]

Reduction in demand would refer to both investment and upgrading, for obvious reasons; Reduction in supply is a side effect of every CM which makes owners less willing to sell as it is also difficult for them to buy another one.

The only difference in this CM7 is that the reduction in demand is probably much larger than the reduction in supply.

Your quoted future 200K unit supply is something that will happen in the next few years, so it is not covered in my original thread.

4yrs SSD is given any buyers in the last 2 years need to hold tight tight ma.....

does your reduction in demand point to investment demand or housing demand as in physical place for some to reside in? the demand to reside is holding up but the supply of housing needs time to build. In fact the huge ramp up in supply by MND is to cater to housing need so to moderate prices?

Only demand supply relationship possibly happening is housing demand is lower and physical supply is increased, that leads to a price drop.

maybe very late liao, mind not working, i cannot comprehend how supply can reduce, alot of enbloc?

[DaytonaSS]

Reduction in demand would refer to both investment and upgrading, for obvious reasons; Reduction in supply is a side effect of every CM which makes owners less willing to sell as it is also difficult for them to buy another one.

The only difference in this CM7 is that the reduction in demand is probably much larger than the reduction in supply.

Your quoted future 200K unit supply is something that will happen in the next few years, so it is not covered in my original thread.

IC, thanks for the explanation. abit of difference in demand and supply definition, so i m struggling to make sense.

[DaytonaSS]

Let's see what is in that white paper before we conclude if there will be a reduction in demand.

bro Kane, my 2 hrs coffee session today at Tiong Bahru bakery confirms it liao, no need wait white paper. Just need to sit there 1pm to 3 pm, the answer is very clear. Hot MILFs are coming in DROVES

[indomie]

Please refrain from using attacking words, and keep the forum a polite place as it has been.

Emotion is an important factor to consider, and market sentiment has a great influence on the trend, this is exactly how Fed and ECB succeeded in reining the crisis, and the CM7 is going to play the other way round by gripping on the residential demand.

The hot commercial/retail/strata office is another proof of the dramatic reduction in demand in residential space, as investors are forced to leave residential and look for greener pastures.

Again, as I pointed out in the beginning, market may start to tilt towards to the buyers in the residential market as the reduction of demand will far outstrip the reduction in supply, so it doesn't make sense talking about things like holding your residential property tight tight.

U are very premature in assuming that the residential property prices will fall due to reduction in demand. I would argue even if the demand is weaken, the price will remain strong or even stronger. I will predict that rental will provide a major role in supporting the residential property prices. At the moment people will flirt with the idea of investing in shares, bond or even commercial properties, but they will come back to residential properties. There is always a fear in people heart that they will be priced out of the residential properties if they waited for too long. The track record shows that residential property provided a high level of return and rental income. It will be hard for anyone to convince the people otherwise. With the global situation as it is (ie. Money printing) and lacking other invesment alternatives as a source of income, one would be foolish to start running toward the exit out of residential properties.

If all u can think about is lack in demand will bring down the prices, u are very simplistic. The gov has the responsibility that sg doesn't become an urban ghetto. In a way this cm7 is a good way in controlling the quality of the people. From now on only people with good financial standing can purchase our properties. It also bring the ownership back to singaporeans (first time buyers). Why on earth that a better quality owners will bring down the price?

[economist]

The assumption is based on simply market mechanism, yes, it is simple, but that's the gist of market. Sorry, it's getting late, have to call it a day, i can't address other parts of your post, good night.

U are very premature in assuming that the residential property prices will fall due to reduction in demand.

[blackjack21trader]

The assumption is based on simply market mechanism, yes, it is simple, but that's the gist of market. Sorry, it's getting late, have to call it a day, i can't address other parts of your post, good night.

WOAHAAHHHAHAHHEHEH

CHIOKAPENG LA

[blackjack21trader]

KA NI GONG, NI MAI TIA

MAI TU LIAO !

Why people believe in academics but not in MY THIRD EYE leh?

WOAHAHAHAHAHHHEHEHEH

[felicia_sg]

Looking at all the negative comments on CCR, time to buy & pick up durian in CCR!

CM7 does have a negative impact on CCR properties and the price gap between CCR and OCR will narrow even further. Almost all CMs affects properties as an investment more than ordinary home upgraders.

[roly8]

U are very premature in assuming that the residential property prices will fall due to reduction in demand. I would argue even if the demand is weaken, the price will remain strong or even stronger. I will predict that rental will provide a major role in supporting the residential property prices. At the moment people will flirt with the idea of investing in shares, bond or even commercial properties, but they will come back to residential properties. There is always a fear in people heart that they will be priced out of the residential properties if they waited for too long. The track record shows that residential property provided a high level of return and rental income. It will be hard for anyone to convince the people otherwise. With the global situation as it is (ie. Money printing) and lacking other invesment alternatives as a source of income, one would be foolish to start running toward the exit out of residential properties.

If all u can think about is lack in demand will bring down the prices, u are very simplistic. The gov has the responsibility that sg doesn't become an urban ghetto. In a way this cm7 is a good way in controlling the quality of the people. From now on only people with good financial standing can purchase our properties. It also bring the ownership back to singaporeans (first time buyers). Why on earth that a better quality owners will bring down the price?

like your post!

though i dislike the expensive property.

[kane]

bro Kane, my 2 hrs coffee session today at Tiong Bahru bakery confirms it liao, no need wait white paper. Just need to sit there 1pm to 3 pm, the answer is very clear. Hot MILFs are coming in DROVES

They working there or they buying things?

[Leeds]

I do read this forum almost everyday and I find most of the forummers helpful and kind.

There are always 2 sides of the coin (or views in this aspect) so take the views and comments with a pinch of salt If one has a crystal ball he wont be here already...

I am vested but I am also ok if prices do drop. Isnt this what the eco-system is all about? Who wants to sell if the graph is a straight line up?

Just want to support what you had said about the graph. As you rightly pointed out, who want to sell if the graph is a straight line up.

[Rosy]

To be fair, this is another self proclaimed expert trying to seek attention like some others in the forum.

[lajia]

"Many property owners are desperate..." another unfounded statement and wrongly used as subject title. Again as I mentioned in the other thread as well, TS is again resembling someone who is very biaised in this forum even those we promote freedom of speech

[Leeds]

While the Title of this thread may not be appropriate, it does 'catch attention' which I hope was the real intention of TS. The contents in this thread and the comments from various contributors show just how we all feel at heart even though many speak their minds rather than from their heart.

The market is not likely to be influenced by what we discussed here even though there are paid forumers (from property developers or other interest parties) who are "doing their jobs" right here.

Whoever you are, please be respectful to each other views and restrain from making your own assumptions about the individuals, associating people with other characters (in this forum) or challenging any individual at a personal level.

Thus far, this thread has been rather enjoying.

[economist]

Oh my, you are not afraid of being named as another clone?

While the Title of this thread may not be appropriate, it does 'catch attention' which I hope was the real intention of TS. The contents in this thread and the comments from various contributors show just how we all feel at heart even though many speak their minds rather than from their heart.

The market is not likely to be influenced by what we discussed here even though there are paid forumers (from property developers or other interest parties) who are "doing their jobs" right here.

Whoever you are, please be respectful to each other views and restrain from making your own assumptions about the individuals, associating people with other characters (in this forum) or challenge any individual at a personal level.

Thus far, this thread has been rather enjoying.

[economist]

Interesting, any idea who they might be?

... there are paid forumers (from property developers or other interest parties) who are "doing their jobs" right here.

[indomie]

Interesting, any idea who they might be?

Actually I really doubt anybody is paid to tcss here. I think the folks here are just passionate about property. I am open to any question to challenge my integrity.

[sherlock]

Just want to support what you had said about the graph. As you rightly pointed out, who want to sell if the graph is a straight line up.

Somehow the graph shows are we are somewhere near or at the peak. But then, the new peak is always higher than the previous so you know where this is going.

[hyenergix]

Just want to support what you had said about the graph. As you rightly pointed out, who want to sell if the graph is a straight line up.

This plateauing graph for residential properties comes at another social cost. I believe the commercial properties graph does not present a pleasant picture, particularly if the higher rental results in inflation and also drive companies overseas. The impact should be hitting us badly this year - just watch out for your daily necessities prices.