Page 1 of 2 12 LastLast
Results 1 to 10 of 16

Thread: Propnex says home buyers may snag good deals if they want to upgrade

  1. #1
    Any complaints please PM me
    Join Date
    May 2006
    Posts
    8,129

    Default Propnex says home buyers may snag good deals if they want to upgrade

    Propnex says home buyers may snag good deals if they want to upgrade

    By Wong Siew Ying, Channel NewsAsia | Posted: 20 March 2008 2235 hrs


    Propnex says home buyers may snag good deals if they want to upgrade

    SINGAPORE: For those with an eye on property, it's a buyers market now, and home hunters who've done their homework may be able to snag some good deals, especially for those looking to upgrade.

    This, according to real estate agency Propnex's CEO, Mohamed Ismail, who held a talk for alumni members at the National University of Singapore.

    Prices of HDB flats jumped 17 per cent in 2007 and it is set to continue its climb in 2008, though at a more modest pace.

    Industry players also expect robust demand with HDB ramping up its building programme.

    But the private residential space is seeing prices moderate.

    So, some property agents said it's an appropriate time to upgrade if home owners can afford it.

    Mr Mohamed Ismail said: “If someone wants to buy a mass market property or upgrade to a landed property, I think this is the best time for the HDB owners.

    “It makes sense for them to sell their public housing when the market is positive and go look for a bargain buy to upgrade themselves when the market shifts and starts to move.

    “A 10 per cent increase in the private property would mean that a million dollar property would cost 1.1 million. While at the same time, a 10 per cent increase of a HDB property that is worth S$400,000 is going to grow by 40,000. The net result - you are going to lose out.”

    Agents said the private mass market segment will continue to do well this year, with prices creeping up slowly.

    "Look at today’s public housing pricing, and the DBSS (design Built and Sell Scheme) pricing per square foot. They are already going at almost S$600 if one would want to buy at a mass market price that is less than S$800 with full facilities," the Propnex CEO continued.

    In the high-end space, prices are expected to fall by between five and ten per cent from six months ago.

    But prices of landed homes may be steady.

    Property agents expect the dust kicked up by the US sub-prime crisis and the rising oil prices to settle by 2009.

    They are also confident that the future is still bright for the property market. That's because Singapore has the right fundamentals in place.

    These include a tight labour market, stable economy and a series of high-profile international events lined-up such as the Formula One Grand Prix in September, and the Youth Olympics in 2010. - CNA/vm

  2. #2
    Unregistered
    Guest

    Default Re: Propnex says home buyers may snag good deals if they want to upgrade

    More transaction means More money goes into agents pockets.

    The agent talk here is irresponsible especially about the 10% gain for $1m private property versus $400,000 HDB flat.

    He is encouraging speculating investment but HDB is meant for self stay. Affordability and not being financially over stretch has to be the key consideration whether upgrade to private or HDB flat.

  3. #3
    Unregistered
    Guest

    Thumbs up Re: Propnex says home buyers may snag good deals if they want to upgrade

    Quote Originally Posted by Unregistered
    More transaction means More money goes into agents pockets.

    The agent talk here is irresponsible especially about the 10% gain for $1m private property versus $400,000 HDB flat.

    He is encouraging speculating investment but HDB is meant for self stay. Affordability and not being financially over stretch has to be the key consideration whether upgrade to private or HDB flat.
    No lah. We all know that to upgrade or not is depending on the individual affordability. If you can not afford, please continue to stay in your HDB. For those who can afford and have some risk appetite, go ahead and grow with the economy when situation improve.

  4. #4
    Unregistered
    Guest

    Default Re: Propnex says home buyers may snag good deals if they want to upgrade

    Quote Originally Posted by mr funny
    Propnex says home buyers may snag good deals if they want to upgrade

    By Wong Siew Ying, Channel NewsAsia | Posted: 20 March 2008 2235 hrs


    Propnex says home buyers may snag good deals if they want to upgrade

    SINGAPORE: For those with an eye on property, it's a buyers market now, and home hunters who've done their homework may be able to snag some good deals, especially for those looking to upgrade.

    This, according to real estate agency Propnex's CEO, Mohamed Ismail, who held a talk for alumni members at the National University of Singapore.

    Prices of HDB flats jumped 17 per cent in 2007 and it is set to continue its climb in 2008, though at a more modest pace.

    Industry players also expect robust demand with HDB ramping up its building programme.

    But the private residential space is seeing prices moderate.

    So, some property agents said it's an appropriate time to upgrade if home owners can afford it.

    Mr Mohamed Ismail said: “If someone wants to buy a mass market property or upgrade to a landed property, I think this is the best time for the HDB owners.

    “It makes sense for them to sell their public housing when the market is positive and go look for a bargain buy to upgrade themselves when the market shifts and starts to move.

    “A 10 per cent increase in the private property would mean that a million dollar property would cost 1.1 million. While at the same time, a 10 per cent increase of a HDB property that is worth S$400,000 is going to grow by 40,000. The net result - you are going to lose out.”

    Agents said the private mass market segment will continue to do well this year, with prices creeping up slowly.

    "Look at today’s public housing pricing, and the DBSS (design Built and Sell Scheme) pricing per square foot. They are already going at almost S$600 if one would want to buy at a mass market price that is less than S$800 with full facilities," the Propnex CEO continued.

    In the high-end space, prices are expected to fall by between five and ten per cent from six months ago.

    But prices of landed homes may be steady.

    Property agents expect the dust kicked up by the US sub-prime crisis and the rising oil prices to settle by 2009.

    They are also confident that the future is still bright for the property market. That's because Singapore has the right fundamentals in place.

    These include a tight labour market, stable economy and a series of high-profile international events lined-up such as the Formula One Grand Prix in September, and the Youth Olympics in 2010. - CNA/vm

    The dynamics for Singapore real estate market has changed a lot in the last 2 years. The best segment to be in now is the resale HDB and resale mass market condo.

    Just tell me how is prices going to come down when there is hardly any stock of HDB new flats. Everything is BTO and the demand/supply imbalance is at least 20:1. Some many HDB flats are now tenanted at sky high price and these further reduce the supply of resale flats in the market. COV will continue to remain.

    Now is the time to upgrade when you get COV over your old resale HDB flats and buy into a older resale mass market condo where you might still find sellers willing to let go at or below valuation. Think about it construction cost lone for new entry level mass market condo today is going at $350-450 psf and still climbing without land cost. You can still buy some EC at under $500 psf. For me, upgrading is not only an opportunity, it is a no brainer.

  5. #5
    Unregistered
    Guest

    Question Re: Propnex says home buyers may snag good deals if they want to upgrade

    iF this is buyers Market ,then how the prices are going to increase .This looks to be a quite one sided news

  6. #6
    Unregistered
    Guest

    Default Re: Propnex says home buyers may snag good deals if they want to upgrade

    Quote Originally Posted by Unregistered
    iF this is buyers Market ,then how the prices are going to increase .This looks to be a quite one sided news
    aiyah, it is a property agent's prediction mah, what u expect?

  7. #7
    Unregistered
    Guest

    Talking Re: Propnex says home buyers may snag good deals if they want to upgrade

    Quote Originally Posted by Unregistered
    aiyah, it is a property agent's prediction mah, what u expect?
    ok lah .so message from agents is just buy& Sell

  8. #8
    Unregistered
    Guest

    Default Re: Propnex says home buyers may snag good deals if they want to upgrade

    Quote Originally Posted by Unregistered
    iF this is buyers Market ,then how the prices are going to increase .This looks to be a quite one sided news
    What they mean is; the prices are not going to increase that fast as before, buyers can get good buy if the some sellers are in need of money now. As the market are now in the 'grey' lining that it may go North or South in any direction now. What these people are predicting that they are very confident that the future is still bright for the property market. That's because Singapore has the right fundamentals in place.

    These include a tight labour market, stable economy and a series of high-profile international events lined-up such as the Formula One Grand Prix in September in 2008, Casino in 2009, and the Youth Olympics in 2010. And of course the 6 million population in Singapore.

  9. #9
    Unregistered
    Guest

    Default Re: Propnex says home buyers may snag good deals if they want to upgrade

    Quote Originally Posted by Unregistered
    What they mean is; the prices are not going to increase that fast as before, buyers can get good buy if the some sellers are in need of money now. As the market are now in the 'grey' lining that it may go North or South in any direction now. What these people are predicting that they are very confident that the future is still bright for the property market. That's because Singapore has the right fundamentals in place.

    These include a tight labour market, stable economy and a series of high-profile international events lined-up such as the Formula One Grand Prix in September in 2008, Casino in 2009, and the Youth Olympics in 2010. And of course the 6 million population in Singapore.
    Do you think Singapore gov can digest all these projects with higher steel price and sand ben ?Its creating another kind of inflation bubble (lable shortage, housing shortage, construction material shortage, office space shortage). Living cost here will go sky high. Especially if US$ is stronger then S$ in near future, the impact will be more obvious.

  10. #10
    Unregistered
    Guest

    Default Re: Propnex says home buyers may snag good deals if they want to upgrade

    Quote Originally Posted by Unregistered
    Do you think Singapore gov can digest all these projects with higher steel price and sand ben ?Its creating another kind of inflation bubble (lable shortage, housing shortage, construction material shortage, office space shortage). Living cost here will go sky high. Especially if US$ is stronger then S$ in near future, the impact will be more obvious.

    The rising COST, be it petroleum, water, sand (concrete), etc., is not a bad thing after all because it motivates R&D into new resources. Without the water problem with Malaysia, how can we have Newater?

    Biodiesel and electric cars are going to replace petrol cars, thanks to the higher oil prices, with less pollution.

    And for sand and concrete, the new building material, at 30% cheaper than concrete, less than one-third the weight of concrete, is now available -- the MgO walls or dry walls.

    Yes, construction costs for private condos used to be in the $150 to $180 psf range, shot up to about $250 psf now, and threatening to go further although the Indonesian sand problem has cooled. But with MgO walls, building costs will return to the $180 level by 2009 or 2010 at latest. The reduction in weight will reduce piling and foundation costs and because the walls are dry, construction time can be reduced by a third.

    Don't worry, everything goes up must come down (Newton's law), but everything that hits the bottom must rebound in order to come down again later.

Page 1 of 2 12 LastLast

Similar Threads

  1. Developers sweetening deals to woo home buyers
    By reporter2 in forum Singapore Private Condominium Property Discussion and News
    Replies: 1
    -: 21-02-14, 16:08
  2. Private home buyers lured by attractive resale deals
    By reporter2 in forum Singapore Private Condominium Property Discussion and News
    Replies: 0
    -: 04-08-12, 21:56
  3. Buyers back out of 105 private home deals
    By reporter2 in forum Singapore Private Condominium Property Discussion and News
    Replies: 6
    -: 26-07-12, 12:57
  4. Private home buyers holding out for better deals
    By mr funny in forum Singapore Private Condominium Property Discussion and News
    Replies: 0
    -: 31-05-11, 18:10
  5. Eager buyers snapping up home deals
    By mr funny in forum Singapore Private Condominium Property Discussion and News
    Replies: 0
    -: 24-07-09, 14:32

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •