How is the crowd at showflat today?

[bargain hunter]

PC has the best value proposition among the new launch now & its priced competitively.
Affinity was much quieter today.

Stirling also quite packed. what about riverfront? affinity despite the price cuts still not getting much traction?

[Xan]

to me it was just hard to estimate the numbers.

after previous cooling measures, there was usually uncertainty and pulling back initially. that's why today's reaction was unexpected for me.

Haha, Guess many get used to it already after so many rounds of CMs. Thus, no pulling back.
Today my fren tried to ask Developers if S&P can be delayed, affinity readily agrees and allows him to delay/re-issue by 1 year plus offering him a discount. Whereas PC gives him a straight no.

[azeoprop]

With this new cm, potential buyers will be even more strict in their choice of projects. Since paying additional tax, they will adopt a no compromise approach to their purchases. Location with good connectivity will still sell regardless of cm. Thats why garden and affinity even with discounts will not gain traction.

[azeoprop]

Cm now becomes like a barrier to entry. It's intended effect is gone and has become predictable to buyers. The general atmosphere now is if you don't buy now next time will be even more difficult to buy.

So thus encourage more buying instead.

[august]

Cm now becomes like a barrier to entry. It's intended effect is gone and has become predictable to buyers. The general atmosphere now is if you don't buy now next time will be even more difficult to buy.

So thus encourage more buying instead.

This is because we have not seen any meaningful reversing of these cooling measures but instead new measures are continually added. A healthy market that includes the resale market cannot function properly if this goes on. It has distorted the market and cycle.

[bargain hunter]

Today my fren tried to ask Developers if S&P can be delayed, affinity readily agrees and allows him to delay/re-issue by 1 year plus offering him a discount.

how does that work? that means option must still be exercised? then complete only in 1 year or can be re-issued again?

[Amber Woods]

This is because we have not seen any meaningful reversing of these cooling measures but instead new measures are continually added. A healthy market that includes the resale market cannot function properly if this goes on. It has distorted the market and cycle.

The property market is the most inefficient market which can be easily manipulated by powerful developers as in the case now. Unlike the stock market where prices rise and fall base on easily market information by the click of a button, property price is extremely inelastic with information difficult to digest or even available. Hence, government's interventions are necessary to balance market's manipulation by private developers. View in this way, it is the private developers that are distorting the market cycle.

[Xan]

how does that work? that means option must still be exercised? then complete only in 1 year or can be re-issued again?

It means otp still need to exercise, pay 5% booking fee first.
Then developer keep re-issuing S&P till 1year. For every rounds of re-issuing of S&P, there’s an admin charge of $200-$300.

[Xan]

Cm now becomes like a barrier to entry. It's intended effect is gone and has become predictable to buyers. The general atmosphere now is if you don't buy now next time will be even more difficult to buy.

So thus encourage more buying instead.

I always feel TDSR is a reasonable barrier and is enough to assess if buyer is financially over stretched.
The tightening of LTV and increasing of ABSD is just a short term deterrent which may Lead to more panic buying. If someone is willing to pay 7% ABSD in the past, what makes them think that future buyer wouldn’t pay 12% ABSD in the future? And yes, u r right, buyers will become more selective in their purchase.
All these are just increasing the dosage of painkiller w/o solving the issue.

[august]

The property market is the most inefficient market which can be easily manipulated by powerful developers as in the case now. Unlike the stock market where prices rise and fall base on easily market information by the click of a button, property price is extremely inelastic with information difficult to digest or even available. Hence, government's interventions are necessary to balance market's manipulation by private developers. View in this way, it is the private developers that are distorting the market cycle.

The Govt is the one manipulating the market. Developers are in no position to do so and are at the mercy of the Govt. It is very obvious.

[Xan]

Developer has to adjust and chub pattern in order to survive under all the rulings.
They don’t manipulate the market.

[bargain hunter]

https://www.facebook.com/photo.php?f...type=3&theater

still crowded today.

[Amber Woods]

The Govt is the one manipulating the market. Developers are in no position to do so and are at the mercy of the Govt. It is very obvious.

I respect your position because you take view that the property market is as efficient as the stock market which in reality, it is not.

[august]

I respect your position because you take view that the property market is as efficient as the stock market which in reality, it is not.

I think you replied to the wrong person. I made no such view.

[challenger]

The Govt is the one manipulating the market. Developers are in no position to do so and are at the mercy of the Govt. It is very obvious.

If totally leave it to private, we may become like HK. Developers are out to make profit, whether through strength or guile. They are not weak. How many of you have gone to a show room and noticed the tricks they play. For example, in the earlier days, show flats have no doors to make the place look bigger.

Government has other objectives and want to avoid big movements in prices. They probably realize that all the embloc happening at the same time will result in a spike in property prices, and want to control it.

I am sure the developers will think of ways to counter this move. In the immediate term, my guess is that more people will let go of their HDB when they upgrade to condo. There will be increase in supply of resale HDB, even those in prime area.

[jwong71]

Isn’t it good..? Dump hdb for condo, and older hdb holds no value.
This call for further plunge in hdb prices.

[stalingrad]

Too bad the government has just taken away the last hobby Singaporeans had left, visiting showflats. Now back to boredom.

[azeoprop]

Now people visit car showrooms instead ha ha.