Hey, behave yourself.Originally Posted by Unregistered
How do you know he will be dead "by then" when his dates are only 12 years down the road and if he is a thirty-something, how can he be dead unless you murder him.
Observe some propriety and decorum when writing on this website; it is meant for property owners, or eligible property owners and therefore readers and writers must have some substance and no mafia mud-slingers
Property prices will soon drop by 15-20%. Just look at relaunched enbloc sites. One relaunched at 20% cheaper, another at 15%.
That is the most conservative estimate. I think 25-30% downside.
That's very comfortable reduction. Earlier asking prices built in steep increases for 2 or 3 years anyway. So still too high and you should wait until retail drop 40 - 50 % before you buy and good luck to you.
A friend of mine bought a property for 1mil in Jan 2006. since then his property on paper appreciate 50% to 1.5mil. Assuming 20% decline from the peak, he should be able to stay in the black with paper profit of 200K. No wonder there isn't any panic sets in for most property owners.
You obviously have not done an en bloc before.
The "asking price" is just a figure plucked out of the air by the marketing agent. The "reserve price" has not changed at all.
The Business Times wrote today (8 Apr 2008):
"However, the property is still being launched based on last year's collective sale agreement signed under the old rules and the reserve price is believed to be the same."
Last time when my development went en blocked, we had a "reserve price" which was supposed to be "secret". Then the marketing agent announced to the press a figure that was 20% higher.
That time I still "green" and asked the marketing agent how come the figure I saw in the newspaper was so much higher than our "reserve price". He said "It's like that one lah, standard market practice".
Anyway, I bet the developers already knew the "reserve price". They could have found out easily.
MY GUESS IS THIS SPECULATOR HATER IS ONE WHO SOLD HIS PROPERTY AFTER HOLDING IT FOR 8 YEARS (FROM 1996-2004), SOLD IT IN 2005 AT 50% LOSS. HE LATER FOUND OUT PRICES SHOT UP IN 2007 TO HIS 1996 LEVEL AND MANY PEOPLE AROUND HIM CELEBRATE 50-80% GAIN. SO HE IS REALLY PISSED OFF AND WISH ALL SPECULATORS DIE DIE
[QUOTE=Unregistered]MY GUESS IS THIS SPECULATOR HATER IS ONE WHO SOLD HIS PROPERTY AFTER HOLDING IT FOR 8 YEARS (FROM 1996-2004), SOLD IT IN 2005 AT 50% LOSS. HE LATER FOUND OUT PRICES SHOT UP IN 2007 TO HIS 1996 LEVEL AND MANY PEOPLE AROUND HIM CELEBRATE 50-80% GAIN. SO HE IS REALLY PISSED OFF AND WISH ALL SPECULATORS DIE DIE[/QUOTYes,i totally agree with your statement.
Speculator hater was short sighted who sold short and now become short circuited.
Re: Analysts say private home sales have peaked
bought property this week ..lets see in two years time where it stands
just to add its a mass market condo
Re: Analysts say private home sales have peaked
Good choice. I think mass market condo should be still OK except that the rise may be gradual.
Good for you. Those who follow the herd mentality always cannot make it good.
By then, F1 and 1st IR already here and waiting for 2nd IR to start. 3rd IR may be also on the way. Therefore, you should probably see a price increased of about 20-30% in two years time.
Re: Analysts say private home sales have peaked
Thanks All !!! for those encouraging messages
Re: Analysts say private home sales have peaked
Don't mention. Good choice to buy when market cools a little now. Don't wait till end of the year when market start to get heated again and then start to chase at HIGH PRICE. Cheers.....
2 Years later, u will be like this,
WITH THE DROPPING MARKET MADDOG/TIGERSEE IS NOWHERE TO BE SEEN. LICKING HIS WOUNDS I GUESS.
I bought my property in 2006, the former owner sold to me and lost 51% of its original value. Now my property is up 78% based on latest transactions. Now if you are the former owner/seller, you will end up cursing and swearing every time you hear someone making a killing in real estate. You become a property investor/speculator hater. I know many many sellers in East Coast, Tanjong Rhu and many other parts of Singapore who sold in in 2006/early2007 are still kicking themselve silly for selling 40-50% below their original price.
Mind you if you dont sell now you would be kicking yourself too like the previous owner when you may be forced to sell at 50% lower than your buying price. Who knows....History can repeat as they say.
Now I understand why so many sour grapes throw their anger and utter rubbish in this forum. I got to always stay alert and absorb only objective views.
Hahahaha this guy is the first owner hahahahaha.
Imagine the former owner has bought this property at 1million. He sold it to you at a loss of 51% which is $490 000. You mentioned your this property is up 78% so you have made a gain of $382 200 which total up (490 000+382 200) to $872 200. The previous owner still made a loss of $127 800 if he had not sold it to you. Consider inflation and maybe the imminent downturn, will the former owner be cursing and swearing? I really wonder who is the silly one? I dun wish to judge, leave it to the crowd here.
THERE GOES THE PROPERTY MARKET....ILL, DEAD AND BURIED. REST IN PEACE.
The property market still very healthy wat ...
Got 4,200 home loans approved in January, only 21% below the "peak of 5,319 last August".
Unlike what the sour grapes here kept saying "No Buyers".
Furthermore, there is a 'a pick-up in market activity at the end of March'.
Looks like the property market will bury the sour grapes yet again.
OHHHHH HIGH END MARKET CRASHINGGGGGGGG.....
HEALTHY HEALTHY HEALTHY
SCREAMS THE NOT SO WEALTHY
SAYS CRASHED BY 21% ONLY
SOMETIMES THE MORONS ARE VERY FUNNY
THE WISE SAY NO BUYERS ALREADY
AND MARKET GOING DOWN UNDER VERILY
SITUATION BY THE DAY GETTING MORE DEADLY
FINALLY...MORONS WILL DIE SCREAMING HEALTHY HEALTHY HEALTHY
BECAUSE UNITS OUT THERE WITH NO BUYERS IN PLENTY!!!
April 9, 2008
Prices of high-end condos starting to fall as sales dwindle
Downward trend may continue for next few quarters, experts predict
By Fiona Chan, Property Reporter
HOME prices are starting to fall, as several high-end properties begin to feel the squeeze of retreating buyers.
Sales of Singapore's most expensive condominiums - all the rage last year - have dwindled to just a trickle this year.
And with plunging sales, prices have also started to dip, although official figures have yet to reflect this trend.
Early signs of the slide lie in the handful of caveats filed involving many luxury projects in the first quarter. These showed prices fell from the previous quarter, in some cases by up to 20 per cent.
In Districts 9 to 11, Singapore's creme de la creme of residential locations covering Orchard, Holland and Bukit Timah, average prices have fallen by about 30 per cent since the beginning of the year, according to caveats.
They dropped to an average of $1,564 per sq ft (psf) between January and March from $2,023 psf in the preceding three months.
FEELING THE SQUEEZE
In luxury island enclave Sentosa Cove, almost all condos posted drops in average psf prices, ranging from 2 per cent for the Marina Collection to 23 per cent for The Azure.
Property experts say this could be because luxury home buyers are now selecting only the most competitively priced properties.
'Market activity is very slow now, so any transactions that do take place are likely to be from people who have found attractive buys,' said Mrs Ong Choon Fah, the executive director at property firm DTZ Debenham Tie Leung.
She said high-end properties in the traditional prime districts were more dependent on investor buying, so they could be more affected by the current global credit crunch and weaker sentiment.
'A lot of people who bought luxury homes are also 'specuvestors', so they may be happy making just a small profit and selling quickly,' Mrs Ong explained.
The Government estimated last week that private home prices continued to climb in the first three months of the year, albeit at a slower pace. They rose 4.2 per cent, down from 6.8 per cent in the previous three months.
In the priciest segment, the core central region, the price gain dropped to 4.4 per cent from 7.5 per cent in the previous quarter. This region covers Districts 9 to 11, the Marina Bay area and Sentosa.
Anecdotal evidence from property insiders and caveats lodged, however, showed that prices at many projects fell rather than rose this year. At Scotts Square in Scotts Road, only two units have been sold so far this year - at an average price of $3,700 psf, down from $4,000 psf for 42 units in last year's fourth quarter.
Similarly, at The Oceanfront @ Sentosa Cove, the most recent deals were in February, where three units were sold at $1,720 to $1,751 psf. Just six months before that, 15 units were sold at an average price of $2,480 psf.
Other high-profile, pricey condos, such as the Marina Bay Residences and The Marq on Paterson Hill, have yet to see a single caveat lodged this year.
But the story is not all bad. The Orchard Residences, which holds the title of Singapore's most expensive condo, has sold only one unit this year - but at $4,700 psf, higher than most of its other sales.
Other older condos in areas such as Cavenagh or Balmoral may also be trading at higher prices from their previously low base, pushing up the overall prices for the whole district, suggested Mr Ku Swee Yong, director of marketing and business development at Savills Singapore.
But he said the price index for high-end homes may be under pressure in the next two quarters, now that 'everyone wants a bargain'.
'You only need developers to start giving discounts or people starting to buy lower-
floor units instead of penthouses. That will push the index down and put pressure on prices.'
NO SIGN OF THE SPECULATORS.....THEY ARE FINISHED!!! MAD RUSH AT THE EXITS....OTHERS PLEASE AVOID THE EXITS....SPECULATORS FLEEING...WATCH OUT FOR YOUR OWN SAFETY.
Dip in high end not unexpected. Prices rocketted too fast last year and the rich local and foreign buyers of that segment are not too bothered by the day to day price fluctuations, a class of their own. However demand in mass market will be there, supported by the large pool of anxious ready buyers. Owners are not forced to sell so potential buyers who wish for collapse would have to pray for another outbreak of asian financial crisis, 911, sars, massive unemployment in rapid succession but this is not going to happen.
Go buy a cheap home, even a hdb 1 room, less you cannot even afford to live in old age home which already cost a bomb now. Stop imagining you are into big game.
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