Property Views
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The mkt looks a bit stagnant as the sellers r holding on their units n hoping the price will go up next yr. Some hv oredi increased their asking price. However, the buyers r v still cautious considering the current job mkt, interest rate, rental mkt, etc…
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vinegar:
Few of my friends sold their units with losses esp those who bot at the peak 2013. Rental mkt is really weak.
Can share the names of these condos? -
MyPillow:
Peak is 2013? My SIL bought a 1 bedder around that time.vinegar:
Few of my friends sold their units with losses esp those who bot at the peak 2013. Rental mkt is really weak.
I think peak pricing is 2013 to about end 2015 - which TOP around this yr - badly hurt - need deep pockets to maintain . Price so Low, some people who can afford , dun want to rent their HDB- tenant mostly is India national with family now - my mum Neighbourhood playground become India play ground , local kids hardly come down to play . The rental income may be hard to cover damage in the flat.
Collected decent rental (from $2.8K to now $2.4K) over 4 years and the unit is currently on the market. She wants to sell it and her agent is marketing it $80K above her purchase price.
I went with her to see a few units (resale and developer’s sales) in 2013. Today, I check propertyguru, most of these units’ asking prices are marginally higher than 2013 prices. Maybe after deducting stamp duty, agent fees, loan interest etc, can at least break even? -
vinegar:
As of now, there are still many many unsold units from the last property boom. With the ongoing enbloc fever, NEXT WAVE of supply is coming.Concerns abt oversupply
http://www.businesstimes.com.sg/real-estate/en-bloc-sale-sites-could-add-about-9300-homes-to-supply-ura -
Everywhere I see flats and condos. So I don’t think there is a strong demand. I wonder why build so many units
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starlight1968sg:
Everywhere I see flats and condos. So I don't think there is a strong demand. I wonder why build so many units
Most of us dunno what is government’s plan. Such is insider news. -
lee_yl:
I think that’s not taking a holistic view of the situation. People looking for oversupply and prices to come tumbling down would be very disappointed.
As of now, there are still many many unsold units from the last property boom. With the ongoing enbloc fever, NEXT WAVE of supply is coming.vinegar:
Concerns abt oversupply
http://www.businesstimes.com.sg/real-estate/en-bloc-sale-sites-could-add-about-9300-homes-to-supply-ura
https://www.ura.gov.sg/uol/media-room/news/2017/Jun/pr17-42 from URA in Jun 2017 offers some additional insights for the tea leaves reader. Put two and two together:
- supply from GLS isn’t going to improve (6k-ish residential units from the whole of 2017 from the confirmed list only)
- the number of unsold private housing units in the pipeline has declined
Hence, the urgency from developers to head into enbloc sales to boost their land bank. Unlike GLS, developers aren’t pressured to build on their land bank. Thus, hoping for a large quantum of units to be released into the market is wishful thinking as developers hold all the cards here. Releasing a large number of units and reducing the appeal of the property market, thereby lowering prices and profit margin, don’t sound like logical commercial decision.
Lastly, as long as the interest rate remains lower than 2%, there won’t be an influx from multiple homes owners to flood the supply side. Those who can’t hold, already let go. The remaining are people who can still tahan the low interest rate environment. Hence, prices are more likely to be stable or even see a slight appreciation. -
TheAnswer:
G plans are in the white paper. It has been translated into the URA masterplan, the LTA transport plan etc. It doesn’t need insiders to understand them as long as anyone is keeping abreast of the news (but alas, these are political and government ‘stuff’, so no one reads about them or share them - unless there’s a cat video in there).starlight1968sg:
Everywhere I see flats and condos. So I don't think there is a strong demand. I wonder why build so many units
Most of us dunno what is government’s plan. Such is insider news.
starlight1968sg: it’s not what you see but what you don’t see that’s important.
So many HDB? Check each releases, and even SBF. Or just ask Janet for her opinion.
So many condo? Check new releases like Forest Woods, Hundred Palms, Clement Canopy etc. The newest launch is Parc Botannia in Sengkang. Check the prices
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Think there r still mkt fr new launch but might not be fr resale. Hv few friends who work as agents, hv tried to sell or rent their units since last yr. According to them, there r fewer investors.
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