If you believe in our founding father, think Spore gonna be all right !
Have faith... This one base price still around 900 psf ..
If you believe in our founding father, think Spore gonna be all right !
Have faith... This one base price still around 900 psf ..
You sound like a little pet dog that is trying to teach the tigers how to survive in a mountain.Originally Posted by Favor
Enough being naive for yourself, don't spread it. It makes you sound very foolish, indeed!
Newbie
Thanks for the advice. Btw, what do you think of the property market since you seem to position yourself as very knowledgeable ?
I am interested in getting a unit at One North. Preferably small units. Interested seller pls email me at [email protected]
What is "smaller unit"?
1- or 2-bedder lah.
ONR is more for rental than stay?
Not true! A lot bought for stay lah.
This is the bottom liao lah for the economic malaise.
When big fish such as Warren Buffett starts whacking companies and assets left and right, you know that bottom already here or close to it liao. Most likely we are in the middle of the bottom and the turnaround is round the corner maybe in the next 1 or 2 years.
What that means for Singapore property is something else. Surely there is no way people can sell $5000 psf properties anymore, but for those mid priced CCR condos like $1200 psf to $2000 psf, there is fair value in them, for the very reason that many of these mid priced ones are located just down the road (or very near) those $4000/$5000 psf properties which are going to be experiencing a 20% drop in price.
If you can buy a condo at half the price of a high end one, and yet live on the same street as that high end one, why not?
Think!n Think value!
For me, I feel mid priced condos have been quite resistant in their prices and haven't dropped very much. Perhaps 2009 or 2010 will be a good time to buy those mid priced condos in CCR. But I won't touch the high end CCR ones like Nassim or the Marq or Hilltops... those are reserved for the super rich.
I think we are near bottom. The question is whether the recovery is U or V shape. Also, some much money has been taken out of equities and funds... it's a matter of time before they need to be parked somewhere.
In a market like singapore, where the government is very very proactive in managing demand, esp powerful hands in controlling HDB supply/price and LTA land sales, property prices might soften, but will not crash...
Get your checkbook ready, be alert for good bargains, seek around for good value... for the next few quarters' the time for investment... Once we are on track for recovery, the developers will start launching, driving up hype and sentiments., the surge will be on again.
BTW. The current price might drop 5-10%. But this will be the new price floor. The price of concrete, steel, manpower.... is increasing... recession or not. Tata is building hundred thousands of nano car for eager indians... and China with dampened growth has yet to fill basic infrastructure needs...
About equity. Timing/catching the market is important, despite all those anal-ysts telling you otherwise. All those bozo analyst are professionals, professionally earning your fees and tcss you. During the 2002-2003 downturn, I invested and when I divested 1 year ago, I earned 80% gain ~20% return a year. example DBS at $12, sold at >$20, SIA $10, sold at $18... so minimum attention and good returns....
I am ready to jump...anyone with me... hopefully to greater wealth :-P
May the force be with us.
Newbie
Now that a lot of trees have been cleared, a road has been built. Can you see the Ayer Rajah Industrial Estate? Can walk. Isn't it in the middle of an industrial town? Even if they tear down all the old JTC walk up factories and rebuild, it is still an industrial town. Who is blur now?
Pink cųnt, you can also say your house sits on a cemetry. No worry! You can say anything. When will you say something about EDB or P. Yeo? Do it soon please!
http://www.tnp.sg/news/story/0,4136,180640,00.html?
FIRE SALE: OWNERS DUMP CONDOS
Agents: Some clients give as much as 20 per cent discount
By Elysa Chen
October 20, 2008
FOR sale: Luxurious multi-million-dollar apartments, not quite for a steal, but with a hefty discount.
Stock market losses have forced some property owners to resort to 'fire sales' for a quick return to liquidity.
And because the property market is almost flat, they have had to let go of their property at huge discounts.
Property agent Henry Neo receives one SMS a day from different clients asking him to sell their homes.
Mr Neo, who has been a property agent for close to 20 years, said: 'The Asian financial crisis of 1997 and this crisis are real challenges.
'It's a tsunami of the stock market.'
Two or three of the 50 clients he is servicing now are what he calls 'desperados' - people who had their fingers burnt so badly in the stock market they need to sell their houses.
The situation is worse for those who opted for deferred payment schemes, said Mr Neo, because some are no longer eligible for loans, and cannot meet payments once the developers issue the Temporary Occupation Permit (TOP).
'They have to get rid of their properties before TOP, so they would be giving even more discounts.'
Noting that the high-end property market seems to be hit the hardest, Mr Neo said: 'My colleagues who specialise in high-end properties are not doing well. They do not have any transactions at all.'
Mr David Cheang, senior vice-president of the Resale Division at HSR Property Group, noted that two out of every 10 clients are affected by the stock market crash, and are selling their property investments to 'get more liquidity'.
A property agent who declined to give his full name said one of his clients had made such losses on the stock market that he was selling his 27th floor freehold apartment at the Twin Regency for a mere $1.05 million, though its market price is $1.3 million.
Last year, he had sold another unit, on the 29th floor of the same condominium, for $1.4 million.
It is the same story for Mr Felix Young, 35, a property agent specialising in high-end condominiums. Some of his clients are prepared to go as low as 20 per cent below their offer price.
He had taken out an advertisement for five properties, all high-end condominium units in the city.
Apartments at The Sail at Marina Bay, which were going for $2,000 psf are now being offered for sale at $1,450 psf, said Mr Young.
But even such a huge discount is failing to entice buyers, who are asking for $1,100 psf. That is because even with such discounts, the two-room apartment costs about $1.3 million.
In the current climate, not many people would be able to shell out that kind of money because they could be sitting on huge paper losses in the stock market.
Mr Young said: 'Buyers have the sentiment that the property market will cool even more, and prices will drop further.'
And because of this, said Mr Young, there has been a significant drop in transactions - up to 70 per cent for high-end properties that people buy for investments.
Most buyers also know developers' launch price for the condominiums and are holding out until they can get a unit at that price.
He said: 'These days, when buyers call me, they ask me if I have any owners who are 'bleeding'.'
Bleeding is a term that is used to describe owners who over-committed themselves financially and need to sell their properties in a hurry.
Mr Young said: 'Many of my clients' bank loans are kicking in soon, so they need to release the properties quickly, before TOP.
'They are stuck because they can neither sell their property, nor rent it out to cover their mortgages, as the rental market has slowed down a lot.'
Asshole, be considerate!
Don't post same message everywhere!
A lot bought for own stay.
Wow!!! the dumping has begun.
Got people dumping ONR meh? Bought for staying. Dump already sleep on the street?
Glad I will get a 30% discount.
You got 30% discount on ONR? From where? Nobody is selling at 30% discount? From the sky?
Wait and watch brother. It is coming. Firesales left right and centre.
You are bullshiting.
Fire sales are from the few speculators in the expensive CCR.
You mean speculators are interested in a cheap project like ONR, where people buy to stay.
Nobody is dumping ONR.
You are talking cock.
Nobody buy ONR for stay, all for rent or speculation only.
Prepare to die.
Rent? Rent to who?
Speculate? Speculate what? Near IR? Near F1? Don't have OR or F1 what.
You are the one speculating.
Everyone knows price tumbling down at a furious pace. Market sentiment too bad. People sitting on huge paper losses in stock market. have to dump condo and run.
Price tumbling at furious pace?
URA overall Q3 price down by only 1.8%. OCR is still up!
So everyone must dump HDB flats and condos? Are you dumping?
Getting very obvious now that you are making wild claims.
Yes even then can't find buyers. TOP approaching and soon many have no choice but to dump. Accept that the market is finished brother.
Find buyer? For what?
Sell the house then they have no place to stay.
Market finished? I don't think so.
Why? You still can talk cock here. If it is finished, you would have been finished too.
Haha whole world knows recession has arrived. You have put your head in the sand or what?
If there is recession, then why are you still so happy?
It is like you telling us tomorrow is the end of the world but you acting tomorrow is a better day.
The logics doesn't match.
Try harder!
Hello!
Technical recession is not recession.
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