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Thread: Mass market and mid-tier private apartments expected to do well this year

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    Default Mass market and mid-tier private apartments expected to do well this year

    Mass market and mid-tier private apartments expected to do well this year

    By Wong Siew Ying, Channel NewsAsia | Posted: 21 March 2008 0021 hrs


    SINGAPORE: Prices of mass market and mid-tier condominiums are expected to remain strong this year.

    But those of high-end residential properties could taper off by up to 10 per cent.

    And if you're looking to buy, the market is in your favour, according to Propnex's CEO, Mohamed Ismail Abdul Gafoore, in a speech to alumni members at the National University of Singapore.

    Despite the weaker market sentiments, industry players expect mass market condominiums to do relatively well this year and prices are set to climb but at a more sluggish pace.

    And more supply will come into the market as 31,000 new private apartments are completed over the next five years.

    Propnex said it's now a buyers market and home hunters could get good deals.

    Mr Mohammad Ismail said: "When we compare the prices of places like Parc Oasis or Woodsgrove condo, the prices today hold and in some instances are even higher per square foot.

    “Look at today, the public housing pricing, and the DBSS 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."

    According to agents, the landed housing space could see modest growth but prices should hold steady.

    The outlook is less positive for luxury apartments, which only six months ago were transacted upwards of S$2000 per square foot.

    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 as Singapore has the right fundamentals in place.

    Meanwhile, demand for public housing is expected to remain robust this year, providing to prices.

    So some agents believe it's a good time for HDB flat owners to trade up to a mass market private property. - CNA/vm

  2. #2
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    Default Re: Mass market and mid-tier private apartments expected to do well this year

    Since when property agent had become economic advisor predicting US subprime crisis and oil prices ?

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    Default Re: Mass market and mid-tier private apartments expected to do well this year

    Quote Originally Posted by Unregistered
    Since when property agent had become economic advisor predicting US subprime crisis and oil prices ?
    Don't believe in agents, they always think very positive and optimistic about the property market one, reason very simple, dun need to explain, all of us know what property agents have in their minds. To buy or not to buy depends on yourself, you do your own prediction, do not be lead by other opinions.

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    Default Re: Mass market and mid-tier private apartments expected to do well this year

    Precisely. I still remember 2003, 2004, 2005, every year they keep saying 'this year will recover' but nothing happened.

    No credibility.

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    Default Re: Mass market and mid-tier private apartments expected to do well this year

    Ai yah! They always 'see people talk like people, see ghost talk like ghost lor'

  6. #6
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    Default Re: Mass market and mid-tier private apartments expected to do well this year

    Let the HDB and mass market condo resale transactions do the talking. One year from now you will know if the CEO of Propnex is talking rubbish or not. Those who bought in 2002, 2003, 2004, 2005, 2006 are laughing their way to the bank. Basically the bought their home below future replacement cost.

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    Red face Re: Mass market and mid-tier private apartments expected to do well this year

    Quote Originally Posted by Unregistered
    Let the HDB and mass market condo resale transactions do the talking. One year from now you will know if the CEO of Propnex is talking rubbish or not. Those who bought in 2002, 2003, 2004, 2005, 2006 are laughing their way to the bank. Basically the bought their home below future replacement cost.
    20 tranactions so for march

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    Thumbs down Re: Mass market and mid-tier private apartments expected to do well this year

    Quote Originally Posted by Unregistered
    Precisely. I still remember 2003, 2004, 2005, every year they keep saying 'this year will recover' but nothing happened.

    No credibility.
    I will assume you did not listen to them and buy during "2003, 2004, 2005". Else, you will not be making noise here but laughing and "HUAT" all the way to the bank. You ought to understand that to listen or not is depending on the individual financial capability and affordability as buying property is a long term and not short term investment. But if you do not have the financial power, you should not listen and should remain where you are now......

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    Default Re: Mass market and mid-tier private apartments expected to do well this year

    yep wat

    is all about long term invesment lar

    u think what

    today u go buy Toto

    u sure must today strike 5 million ar??

    u think what

    you go to bank ,tell the banker today

    i put in 5 million investment

    I want 100,000 profit now!!!!

    dun be crazy

    lar!!!

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    Default Re: Mass market and mid-tier private apartments expected to do well this year

    Quote Originally Posted by mr funny
    Mass market and mid-tier private apartments expected to do well this year

    Mr Mohammad Ismail said: "When we compare the prices of places like Parc Oasis or Woodsgrove condo, the prices today hold and in some instances are even higher per square foot.

    “Look at today, the public housing pricing, and the DBSS 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."
    Ya I agree with the Propnex Mr Mohammad Ismail.

    Mass market is now a good deal compared to HDB flats. Or rather, HDB flats are a bad deal.

    Recently some people wrote to the Straits Times forum to complain why the monthly conservancy charges for HDB are even higher than for some condos, after including parking charges. Whereas parking in condos is free-of-charge.

    Then the HDB replied that they did not sell the carpark to you.

    On top of that, when you buy a condo, you are buying the land as well. So next time, let's say 30 years later when your condo en bloc, you or your children can enjoy the en bloc windfall.

    But then for HDB flats, the land belongs to HDB. So those Selective En Bloc (SERS) en bloc profits all go to the HDB.

    Of course the HDB will say they did not sell you the land.

    So they did not sell you the car park and they did not sell you the land and they did not sell you the swimming pool at the town centre and your conservancy charges do not include security guards to prevent loan sharks from splashing paint onto your doors.

    So if you subtract away all these things, HDB flats are really not value-for-money compared to condos.

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