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Thread: Property 101: Prices can go down

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    Default Property 101: Prices can go down

    http://www.todayonline.com/Business/...es-can-go-down

    Property 101: Prices can go down

    by Tan Hui Leng

    05:55 AM Aug 29, 2009


    Judging from the brisk sales at launches, it appears many Singaporeans have jumped on the runaway property bandwagon.

    But before you get caught up in the sales pitches and showroom euphoria of property agents cheering as each unit is sold, industry players warn that you should step back, take a breath and think twice.

    This, they say applies to both HDB upgraders as well as those looking for a second property to spruce up their financial portfolio. Here are a few pointers that ought to be at the back of your mind.

    1. Do your sums

    It may sound obvious but it is often forgotten. Consider upgrading only if there have been significant changes in your credit profile, say, a pay rise and if your appreciating assets are holding up, said PropNex chief Mohamed Ismail.

    If you're upgrading from HDB, think about your net proceeds and what you can put into a new property to reduce your loan. Work out how much you need to pay each month. Be prudent and do not over-leverage. Consider the repayment period. Banks typically limit loan repayments to about 40 per cent of your gross monthly income.

    Make sure you factor in other debts, expenses and what you need to save.

    "Buy a property that will not overstretch your finances while maintaining a lifestyle of your desire," Mr Ismail said.

    Choose your home loan carefully. Interest absorption schemes may seem attractive but you may typically end up paying 2-3 per cent more for the entire property.

    If you plan to rent out the property, your monthly rental should ideally cover your mortgage instalments.


    2. Location, location, location

    As an owner-occupier, you should think about transport options. If you're an average HDB dweller, you would do well to choose a property near an MRT station, said Mr Chris Koh, director at Dennis Wee Group.

    If you're looking for capital gains or renting out the property, proximity to a MRT station is even more important as tenants (the foreign ones in particular) are looking for convenient public transport options to take them round the island.

    Also check out which direction the unit is facing and the project's surroundings.


    3. Maintenance and other BILLS

    Consider how much you will need to furnish or renovate the new apartment, advised Dennis Wee Group's Mr Koh. Also factor in maintenance charges each month - how much more you will be paying for service and conservancy, parking and other charges.


    4. Plan your interim options

    Your HDB property may fetch a tidy sum now, but what about in two years when your private property obtains its Temporary Occupation Permit. Unless you intend to keep your HDB flat for rental, you should consider whether you to sell now or later.

    If you choose to sell now, you need to think about where you will live in the meantime and the costs you will incur.


    5. Be mentally prepared

    Be aware that property prices fluctuate and prices may not return to the level at which you bought the property.

    "If you can sleep through that, have really no regrets, you like the property and lifestyle, then well and good," said Ngee Ann Polytechnic real estate lecturer, Nicholas Mak. "But don't put everything into a private property thinking that prices will only go in one direction - up."

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    yes, good advice.

    A lot of listing's asking prices has gone up by 10% to 20% from their asking prices just 3 to 6 months ago... too crazy to me. Beware of big down side risk with little up side gain. Still negative GDP forcast for this year...



    At this rate.... who is going to shoulder the fall?


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    ha ha don't worry, the government has already come out to support HDB prices, so condo prices will be indirectly supported too, at least up to election?!

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    Quote Originally Posted by Allthepies
    ha ha don't worry, the government has already come out to support HDB prices, so condo prices will be indirectly supported too, at least up to election?!
    But shortie also hinted at releasing land regularly next yr so that there will be enough new condos...In this way, HDB reslae price stable, new condo price comes down (or at least don't shoot up too fast)...everybody happy...less those who bought recently at sky high price.

    Election sure swee swee boom pee pee...

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    Quote Originally Posted by mr funny
    2. Location, location, location

    As an owner-occupier, you should think about transport options. If you're an average HDB dweller, you would do well to choose a property near an MRT station, said Mr Chris Koh, director at Dennis Wee Group.

    If you're looking for capital gains or renting out the property, proximity to a MRT station is even more important as tenants (the foreign ones in particular) are looking for convenient public transport options to take them round the island.

    Also check out which direction the unit is facing and the project's surroundings.
    Errr... Seems Location Location Location should be changed to MRT MRT MRT .

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    Quote Originally Posted by gwlip
    Errr... Seems Location Location Location should be changed to MRT MRT MRT .
    U r absolutely right!

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    LRT also can lah.. as long as not next to bus interchange..

    First on Location = Which MRT station... near to MRT interchange is better over just near to any MRT station.

    Second on Location = Which side of the MRT line.... beside or opposite or above it.... (too near is not to good, tracks running below it may cause vibrations felt above it too)

    Third on Location = Which facing? pool facing, park facing, sea facing, blocked view.... afternoon sun?

    Fourth on Location = High, mid or low floor...

    Fifth on Location, near to rubbish chutes or tennis courts?

    Six on Location.... near to the entrance or clubhouse?

    Seven on Location... bad neighbours? your luck.

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    Quote Originally Posted by Condorich
    LRT also can lah.. as long as not next to bus interchange..

    First on Location = Which MRT station... near to MRT interchange is better over just near to any MRT station.

    Second on Location = Which side of the MRT line.... beside or opposite or above it.... (too near is not to good, tracks running below it may cause vibrations felt above it too)

    Third on Location = Which facing? pool facing, park facing, sea facing, blocked view.... afternoon sun?

    Fourth on Location = High, mid or low floor...

    Fifth on Location, near to rubbish chutes or tennis courts?

    Six on Location.... near to the entrance or clubhouse?

    Seven on Location... bad neighbours? your luck.
    Eight on Location ... which interlace?



    The Interlace @ Gillman Heights.

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    Looks more like lego-lace...any more renditions?
    maybe look better from another angle.

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    Quote Originally Posted by sabian
    Looks more like lego-lace...any more renditions?
    maybe look better from another angle.









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    Thanks!
    Still look like lego-lace but i like!

    Will be iconic landmark.

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    Quote Originally Posted by sabian
    Thanks!
    Still look like lego-lace but i like!

    Will be iconic landmark.
    Looks like a pack of derailed train wagons?

    But I applaud this bold move to have a more interesting architecture landscape n SG.

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    Wow... that is something new...

    Do watch out for sharp edges of surrounding buildings pointing into your living room or home.... bad in terms of fengshui...

    Can go for top floors with the best orientation.. sea view and no afternoon sun... Duplex is the best!

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    Quote Originally Posted by Condorich
    Wow... that is something new...

    Do watch out for sharp edges of surrounding buildings pointing into your living room or home.... bad in terms of fengshui...

    Can go for top floors with the best orientation.. sea view and no afternoon sun... Duplex is the best!
    Ya, you are right, I sold mine becos of that reason. In fengshui that sharp edges represent a very sharp knife. Must careful for selection.

    Unique design, not nescessary nice, to me it look like a mass of containers not neatly stack, all over the place, very messy.

    Maybe they got the idea from the nearby containers bay.

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    Quote Originally Posted by cndomay
    Looks like a pack of derailed train wagons?

    But I applaud this bold move to have a more interesting architecture landscape n SG.
    Thats what I thought too. or shipping containers after a crane accident.

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    oh oh.. does it also look like a uni campus in some urban area or a hospital.

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    Quote Originally Posted by EBD
    Thats what I thought too. or shipping containers after a crane accident.
    How to get sunlight if there lies a container right above your unit? Have anyone built a model to see if the unit below gets much natural light?

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    Ask any Feng Shui Master they will give you good advice

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    Quote Originally Posted by jhokc0007
    Ask any Feng Shui Master they will give you good advice
    Good, but who is your feng shui master. can share?

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    Feng Shui master will say don't know how to orient direction, too many sharp edges. Bad feng shui.


    Quote Originally Posted by jhokc0007
    Ask any Feng Shui Master they will give you good advice

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    Quote Originally Posted by jhokc0007
    Ask any Feng Shui Master they will give you good advice
    I think the feng shui master also surrender....

    Sure to give wrong advice, so many sharp edges

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    This is not about sharp edges but about the basic concept of logical thing - which is embedded in Feng Shui - How would one feel staying in a apt without proper grounding to the land. Unease - right.

    This will led to "problems"

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    Quote Originally Posted by jhokc0007
    This is not about sharp edges but about the basic concept of logical thing - which is embedded in Feng Shui - How would one feel staying in a apt without proper grounding to the land. Unease - right.

    This will led to "problems"
    Exactly it is about common sense. Would you feel comfortable living in a unit where the "containers" or entire apt block are right over your head and in front of you. Not much natural light get to you under the CTE or AYE. Same here.

    Two choices:
    Units with solid ground near the lifts may have big structures over their heads. Units in the middle might as well be on a sky-bridge.

    But lets see what the buyer's verdit will be?

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    Quote Originally Posted by Honesty
    I think the feng shui master also surrender....

    Sure to give wrong advice, so many sharp edges
    from the topview, i can see 1unit that has 3edges pointing at it (near pool area)
    fengshui master : 'block left, right kena, block right, centre kena'
    all units come with Ba Qua mirror in their balconies

    i think the view from the PH looking down at the whole development will be nice though

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    By Channel NewsAsia, Updated: 30/08/2010
    Property sales volume may dip 20%, developers likely to be more cautious

    Property sales volume may dip 20%, developers likely to be more cautious
    @import url("http://sgstc.msn.com/br/csl/css/38742CDE2D315FB67F7A0AF2CBE04B3B/fbutility.css");/*/*


    Private housing showroom



    SINGAPORE : Market watchers are not surprised by the government’s move on Monday to cool the housing market, and some even said that it is long overdue.
    On average, analysts expect the latest measures to dampen private home sales by about 20 per cent for the rest of the year.
    And developers may also hold back on new launches, and turn to preview sales instead.
    The relaxation of some housing policies will make Design, Build and Sell Scheme (DBSS) flats more accessible to Singaporeans who belong to the ’sandwiched class’ income group, earning between S$8,000 and S$10,000 and previously did not qualify to use CPF housing grants for them.
    And observers said that could shrink the pool of buyers upgrading from public housing to a private property, causing demand for private homes to soften.
    This group of buyers has been snapping up mass market private homes in the past year and fuelling price increases in the segment.
    Donald Han, regional MD of Cushman & Wakefield said: "I think mass market has come up if you’re looking at the first quarter of 2008, prices have gone up by 6—7 per cent. We probably will not expect prices to come down in the next two to three quarters, but we probably expect more stabilisation in values. After all, the market needs to take a breather.
    "And if we can contain the leap, in terms of price increases of HDB flats, I think it will put a lid on the price increases, in terms of the mass market as well."
    Analysts also expect developers to be less aggressive in their bids for state land.
    Meanwhile, the Real Estate Developers Association of Singapore (REDAS) said the latest measures may make property less affordable upfront.
    But it is confident the property market will create value for home—owners and investors in the long term.
    Overall, prices are expected to moderate with the slew of cooling measures.
    But experts are not ruling out further intervention from the government, citing concern over the huge amount of liquidity in the market and the low interest rates.
    Colin Tan, director of Research & Consultancy at Chesterton Suntec International said: "The previous measures were largely symbolic, and it didn’t quite address the liquidity problem. Right now, you have loan to value ratio of 70 per cent, and you have a minimum cash payment of up to 10 per cent, so that will at least soak up some of the liquidity.
    "If this set of measures don’t work in terms of restraining prices, we can possibly expect more measures. Going forward with what the government has mentioned — that prices have increased 11 per cent for the first half of the year — we know that a 11 per cent rise is unacceptable. So at least we now know it should be lower, much lower than 11 per cent, maybe 10 per cent for the whole year.
    According Leong Waiho, senior regional economist at Barclays Capital, price levels have now exceeded the historical peak in Q2 1996.
    Average private residential prices are up 38 per cent, compared with the trough in the same quarter in 2009. This also outstrips the growth in rental yields of 9.2 per cent on—year.
    For the second half of the year, analysts expect private home prices to grow by up to 6 per cent. — CNA /ls

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    Quote Originally Posted by Honesty
    Ya, you are right, I sold mine becos of that reason. In fengshui that sharp edges represent a very sharp knife. Must careful for selection.

    Unique design, not nescessary nice, to me it look like a mass of containers not neatly stack, all over the place, very messy.

    Maybe they got the idea from the nearby containers bay.
    I can confirm this fengshui "myth". After my married counsin bought a unit facing a very big "sharp knife", her hubby (now ex-hubby) became down and out, went bankrupt and got jailed for swindling (to pay "Ah Long").
    Sold it off but already too late to salvage.

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    Quote Originally Posted by Condorich
    yes, good advice.

    A lot of listing's asking prices has gone up by 10% to 20% from their asking prices just 3 to 6 months ago... too crazy to me. Beware of big down side risk with little up side gain. Still negative GDP forcast for this year...


    "Negative" GDP for this year???

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    Quote Originally Posted by mightyleftfoot
    I can confirm this fengshui "myth". After my married counsin bought a unit facing a very big "sharp knife", her hubby (now ex-hubby) became down and out, went bankrupt and got jailed for swindling (to pay "Ah Long").
    Sold it off but already too late to salvage.
    Can anyone verified this "myth" for those staying in $4-5mil properties in Orchard? ;p

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    I do not believe in feng shui until when my neighbour reconstruct his house recently where he build a partition wall at the balcony of his attic. Besides the wind directly coming in my home, the wind suppose to go to his house is also reflected into my home because of this wall. My maid who stays at the attic has been striking 4D since then. She strikes 5 times in the month of Aug. She will buy my family dinner whenever she strikes the 4D. She believes that she has to give in order to get more. I thought she was bluffing butI saw the numbers appear on her 4D ticket matches with the numbers that session. She buys only $1-2 each time. Maybe I have to exchange rooms with her.

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    Quote Originally Posted by DC33_2008
    She buys only $1-2 each time. Maybe I have to exchange rooms with her.
    just lonbang her numbers 1000 big 1000 small can liao. If possible post the numbers here & let us share the Wind from ur attic.

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