HDB crash is coming! ~ Spike in number of HDB flats sold below valuation

[玉格格]

The number of Housing Board flats being sold below valuation has rocketed, as tighter mortgage rules eat into demand.

According to HDB's latest figures, 105 units were sold in October for less than their appraisal. This accounted for 7 per cent of the total resale volume, a marked increase on the average 0.3 per cent for each month of the first half of the year.

This means around four times as many flats were sold below valuation in October alone than over the whole of January to June, when there was an average of five such transactions every month.

This has forced sellers, such as assistant manager Raymond Koh, 37, to adjust expectations.

http://www.straitstimes.com/breaking...ation-20131202

[lionhill]

That HDB prices in Punggol drop does not mean prices in other places will also drop like that.

[玉格格]

That HDB prices in Punggol drop does not mean prices in other places will also drop like that.

but 1 or 2 mths ago, alrdy heard some lousy location selling at valuation/slightly below valuation liao leh. now seems like the magnitude is wider!

[thomastansb]

But other areas will have to give in sooner or later. Imagine you market your unit for 2 months and not a single call. Some are second time buyers who have only 6 months to dispose their HDB.

That HDB prices in Punggol drop does not mean prices in other places will also drop like that.

[lionhill]

let's wait and see. my viewpoint is that only prices in areas with oversupplies will drop observably.

[玉格格]

let's wait and see. my viewpoint is that only prices in areas with oversupplies will drop observably.

haiz ... u got fwens wanting to sell their hdb onot? I hv heard so many woes lately liao. n some hv high floor flats near mrt & amenties wor ... but no one offered.

[henryhk]

I have only one hdb how to sell, is not like pte condo, ...can buy back again..

[玉格格]

I have only one hdb how to sell, is not like pte condo, ...can buy back again..

those hdb sellers r mostly pc or ec upgraders, whereby they hv no choice nid to sell desperately as the condo top le.

[relax88]

Too bad , hdb cannot rent out without getting permission

hdb owners shout lar, shout not fair, shout condo crash lar.

偷鸡不招十把米

[玉格格]

Too bad , hdb cannot rent out without getting permission

permission is only req'd if u intend to sublet the whole flat, otherwise subletting of rooms nia no prob one.

hdb owners should lar, should not fair, should condo crash lar.

if hdb crash jialat jialat, mass condo will get the greatest hit. small crash possible wor...

[august]

haiz ... u got fwens wanting to sell their hdb onot? I hv heard so many woes lately liao. n some hv high floor flats near mrt & amenties wor ... but no one offered.

I hear many buyers are holding back in anticipation of further price drop. This is what happens when sentiment turns, all the demand goes hiding precipitating further drop.

[玉格格]

I hear many buyers are holding back in anticipation of further price drop. This is what happens when sentiment turns, all the demand goes hiding precipitating further drop.

if I were a potential hdb buyer, I will oso wait for 1/2 yr more at least.
lower/no cov will affect future valuation.
it certainly pays to wait unless u r incurring rental exp rite now.

[gymboy]

if hdb crash jialat jialat, mass condo will get the greatest hit. small crash possible wor...

Agree that the ripple effect will spill over to condo. Those who MTB, your chance coming le.

[lajia]

this situation should be good for hdb rental market.
a lot of EC in northeast region TOP in 1-2yrs times and with their ridiculously high valuation compared to other regions, it is post for a slight drop as owner still earn and they are worried that when their EC TOP, there are more sellers....therefore, quite a number I know already sold their flat and are renting till their EC TOP...
look into the situation before u guys become so paranoid and shouting crashing la...this is temp and is a good chance for real buyer to watch out for good deals.

[lionhill]

haiz ... u got fwens wanting to sell their hdb onot? I hv heard so many woes lately liao. n some hv high floor flats near mrt & amenties wor ... but no one offered.

No. according to my casual talk with my HDB neighbors, I have not heard any one wanting to sell their HDB. as a matter of fact, we have met our MOP in February, but until today, I have not seen any transaction in my block.

[玉格格]

No. according to my casual talk with my HDB neighbors, I have not heard any one wanting to sell their HDB. as a matter of fact, we have met our MOP in February, but until today, I have not seen any transaction in my block.

u missed my point le.
Im not asking if yr hdb fwens intend to sell their hdbs; Im saying u see how easy it is for those hdb dwellers who nid to sell their hdb nowadays.

[玉格格]

Agree that the ripple effect will spill over to condo. Those who MTB, your chance coming le.

many seem to underestimate the ripple effect from hdb to mass condo.
gd luck to those developers who still dare to bid high high for mass condos.
who cares if u hv gotten yr land costly?
as long as a buyer is kiap by tdsr n absd, u earn marginal nia they oso wun buy if u cannot price yr proj at an affordable quantum.

[Laguna]

Too bad , hdb cannot rent out without getting permission

hdb owners shout lar, shout not fair, shout condo crash lar.

偷鸡不招十把米

偷鸡不着蝕把米

现代人的华文真是—落千丈

[玉格格]

this situation should be good for hdb rental market.
a lot of EC in northeast region TOP in 1-2yrs times and with their ridiculously high valuation compared to other regions, it is post for a slight drop as owner still earn and they are worried that when their EC TOP, there are more sellers....therefore, quite a number I know already sold their flat and are renting till their EC TOP...
look into the situation before u guys become so paranoid and shouting crashing la...this is temp and is a good chance for real buyer to watch out for good deals.

selling off yr hdb n rent while waiting for ec top is the best option meh? it is not any better sia!

ec/pc upgrader is only given 1/2 grace period to get rid of their hdb.
wat is gg to happen if after 6 mths still unable to sell?

[eng81157]

this is because the location, i.e. Punggol, sucks!! no matter how much the government tried to whitewash it, the fact remains that punggol is far flung away in a corner of the island

[lajia]

Haha, bro, u also miss the pt. I didn't say sell their hdb first and rent till their EC TOP is a good option...I say this is temporary...even for the below valuation thingy, also temporary. Watch out for the turning pt. Could last as long as two qtr...maybe even shorter.

Wa u change a lot of identities but your tone is still same, u switch here switch there u not tired??...

selling off yr hdb n rent while waiting for ec top is the best option meh? it is not any better sia!

ec/pc upgrader is only given 1/2 grace period to get rid of their hdb.
wat is gg to happen if after 6 mths still unable to sell?

[relax88]

偷鸡不着蝕把米

现代人的华文真是—落千丈

Thank you....pai sei

[玉格格]

Haha, bro, u also miss the pt. I didn't say sell their hdb first and rent till their EC TOP is a good option...I say this is temporary...even for the below valuation thingy, also temporary. Watch out for the turning pt. Could last as long as two qtr...maybe even shorter.

I din say tat u said, Im juz commenting tat wat the hdb owners did to prevent a low selling $ n desperate sell did not resulted in a better margin for them.

Wa u change a lot of identities but your tone is still same, u switch here switch there u not tired??...

I oni change my identity once. if u find tonnes of similar tones, tat means u mistaken me for someone else liao.

btw, I oni change my identity, I din change my gender. Im still a sista, haha

[玉格格]

this is because the location, i.e. Punggol, sucks!! no matter how much the government tried to whitewash it, the fact remains that punggol is far flung away in a corner of the island

worse part is punggol is expensive

[eng81157]

worse part is punggol is expensive

i don't think only punggol is expensive. over the weekend, i was discussing with my mum about our old place at bedok, which is behind the stadium and not near bedok or tanah merah MRT at all.

guess what, a 35year old 3room resale flat was transacted at $340k recently!!!!!!! i bought my telok blangah 4rm flat in 2004 for $240+k.

i dread for my kids' future.

[玉格格]

i don't think only punggol is expensive. over the weekend, i was discussing with my mum about our old place at bedok, which is behind the stadium and not near bedok or tanah merah MRT at all.

guess what, a 35year old 3room resale flat was transacted at $340k recently!!!!!!! i bought my telok blangah 4rm flat in 2004 for $240+k.

i dread for my kids' future.

how can u compare a resale flat in 2013 wif yr 4rm purchased (dunno if it is bto) in 2004 sia!!!

[p3nboy]

selling off yr hdb n rent while waiting for ec top is the best option meh? it is not any better sia!

ec/pc upgrader is only given 1/2 grace period to get rid of their hdb.
wat is gg to happen if after 6 mths still unable to sell?

my defination of upgrading is to be able to buy a PC yet keep your HDB else dont bother.

[玉格格]

my defination of upgrading is to be able to buy a PC yet keep your HDB else dont bother.

tat is not upgrade, is became richer.
upgrade involves replacing the current wif something better.

[p3nboy]

tat is not upgrade, is became richer.
upgrade involves replacing the current wif something better.

like i said, that is my defination. i belong to the conservative party.

[eng81157]

how can u compare a resale flat in 2013 wif yr 4rm purchased (dunno if it is bto) in 2004 sia!!!

ge ge, i'm just using it to explain that it ain't only expensive in punggol. everywhere's expensive!