Rental Direction

[garbageman]

geeez...what a load of garbage....facts:

10%-20% deposit is needed....4k salary man will never save that much...

servicing of loan required by bank is 40% of income...i.e 1600 in your case...

30 -year mortgate in todays i/r of 900k is about 3.7k...

load of garbage...can argue that rentals/property will come down but dont use silly baseless facts...

[I think]

garbageman - I'm  no expert but my understanding is that singaporeans can use their CPF to fund the deposit and service the loan so servicing a loan that size is not unrealistic.

[reliable sources]

I heard from reliable sources that May is also up!

[well yes, but....]

garbageman - I'm  no expert but my understanding is that singaporeans can use their CPF to fund the deposit and service the loan so servicing a loan that size is not unrealistic.

They needed to build up their CPF in the first place.  How long does it take someone earning 4k a month to accumulate enough CPF to put down 200k and service the loan?  Not very realistic really.

[Fire sale again?]

I never got a sensible answer to this one.  Could someone who knows kindly enlighten me.

[not where i live]

where i live prices got as high as $5000 (they were asking $6000) at the peak. Before the rise started they were around $2700.  I know of 2 people who have resigned leases recently at $3500 and there are now a few empty units (several empty for almost 6 months now and they are asking $7000 I think  ) where before there were hardly ever any units empty.

So in my little corner of Singapore - rents are coming down and the market is definately slowing. Any-one who thinks it will continue to rise is seriously deluded. That's my 2 cents :p

[To Old Condo]

Landlord alert, landlord alert!

[old condo]

I'm not a LL I used to be a tenant there.  You seem to have mis-read my post.  It was previously very hard to get a 4 bed there, now it's easy.  That is a negative sign (ok rents are higher now).

[to fire sale]

It is generally when someone is desperate to sell no matter what they will take any price offered, this may be well below true market as they have no choice.

Another example.  Expat is leaving country, needs to sell his car.  They may take 5k-10k less than it's theoretical value as they have no choice but to get rid.

Could apply to condos where the buyer can't get a mortgage if they bought on DPS and finally need to come up with the cash.  Also, if someone lost a job and can't keep up repayments etc.  May be any number of reasons.

Anyway, in summary it is a discounted price due to forced sale.

[Fire sale]

Fire sale simply means "all must/will go", akin what happens in a fire situation.