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Property Time Bomb
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jackjames
Elite |
19-Sep-2007 17:28
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Vested at One North Residence! Watch it grows, see this price at 2011. |
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ivorycoast
Elite |
19-Sep-2007 17:25
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Never chase prices ..... For those who buy to stay, numbers may not be of any significance ..... For investors, ask yourself one question ..... at that price you bought, what's the possibility of someone buying from you at a higher price than what you bought down the next few years ? At $1800psf at Joo Chiat/Marine vicinity ..... is the percentage increase over the past transactions very scary ? Are potential buyers aware that at $1800psf, one can still buy into the prime ..... Will property prices climb up in a straight line ? Global risks is always there ..... just look at the subprime woes ..... it have been a can of worms waiting to be opened ..... |
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KiLrOy
Master |
19-Sep-2007 16:51
Yells: "I buy only what I can see." |
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victorf, your view makes little sense to me personnally but I respect it. :) 'with many buildings being torn down' denotes that many sellers else there will not be buildings being redevelop by developers (en bloc). My landed property itself when bought was at SGD450psf in 2001 and now command an avg of SGD850psf. Its a historic high for this estate. One looked at the ura website for caveat lodged transactions in JUL & AUG, you can tell there are indeed many willing sellers (people with en bloc money used to stay in the city now buying the landed property (mind you, they not only buy the land but redevelop the older house to a 3-4 stories bangalow). When its was difficult to sell during the 2004, it was a buyer's market. Even when you refinance, banks gave a valuation lower then what was bought. So we who have been living in this side of the estate know its a seller's market now. :) |
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moneymaking
Member |
19-Sep-2007 16:49
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Thanks all for sharing. In fact I am planning to sell it away and then buy back when people are tired chasing the price as more projects rolling out. Maybe can get a bigger unit with the same price. Will that happen or property price continue to go up after the IR open ? |
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victorf
Master |
19-Sep-2007 16:35
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how high is high, how low is low is very difficult to quantify in practice...best and easy practical way is to use demand and supply to quantify to decide when to sell (easily doable as when you can easily find buyers or tenants etc. to view your house at a certain price, then it is not good time to sell, but when it becomes more difficult, then it is time to sell)...good luck to all property holders :) |
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KiLrOy
Master |
19-Sep-2007 16:25
Yells: "I buy only what I can see." |
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About now, prior to the next recession. Similiar to US economic number, SG does have its own economic numbers from the MAS website each month in which you can subscribe your email to. Same for stocks, you sell when its high, you dont sell when it's dropping. |
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victorf
Master |
19-Sep-2007 16:17
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the right time to sell is in 2-3 years time when the supply exceeds demand (after all current projects in progress or planning finishes)...definitely NOT NOW when the demand is higher than supply (with many buildings being torn down) |
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moneymaking
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19-Sep-2007 15:57
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I am planning to sell away my property. Anyone care to share when is the right time to sell ? |
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ivorycoast
Elite |
19-Sep-2007 12:09
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Anyone knows how developers work out their bottomlines? Is $1800psf at Katong area rather ridiculous? If we come across some shops selling goods at exorbitant prices, we may have an accessible channel like Case to voice it out. But what about property prices? Is it time that we have a watchdog for property prices? |
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ivorycoast
Elite |
19-Sep-2007 12:02
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Now with the prime properties facing a possible price correction, the developers are now diverting their targets at mass markets. We may possibly see property prices at above $1100psf even in Ang Mo Kio area ..... and prices at above $1800psf at Joo Chiat/Marine Parade area ..... Hope those guys knows what they are doing. Will our young generation face a potential problem of finding affordable homes to start a family ? Are property prices moving up too fast relative to our income ? Are there no consumer association to keep developer's pricing in check ? |
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