Prices still holding good

[Property Buyer]

Despite all the negative posts, prices/rents are still holding up.  Don't see any evidence of anything getting cheaper.  I have been following advice of the bears for the last 6 months and here I am still without that cheap property I thought I would get.

[Bo liao]

I agree, but is there a need for new thread?

[must be quiet...]

for property agents. Even have time to post on Sunday afternoons instead of selling. Broken your egg for this month yet?

[Stuck!]

When owner doesnt want to sell at lower prices, what do you expect?

Reality is many owners are "stuck" with property with rental yield of greater than 6% with mortgage loan of 2%-3%! Including myself.

[I think]

the prices will hold relatively good until 2009-2010, when it is TOP for the developments bought during the grazy year 2007. It also overlaps with coming recession so do your sums there...

[15-20% drop already]

The latest results show a 15-20% price drop across the board over the last 9 months. Including mass market. Sail has drop 14% just in the last quarter alone.

The predicted crash is happening and has a long way to go. People are now expecting prices to drop below 2004 prices.

All those who bought in mid 2007 have already lost the value of their 20% deposit and are now moving into negative equity.

[boo hoo]

but all the developers n agents say it will go up cos of F1!

[Mother of All Fs]

but all the developers n agents say it will go up cos of F1!

Yup...Apparently, Singapore is quite a different in the sense that property values have zero correlation with wages, affordability and macro-economics, about 50% correlation with reported GDP performance, and 100% correlation with F1, Singapore Flyer, IRs and influx of low wage workers. The most unique thing about it all is that it is extremely sticky going downwards...once prices goes up, it apparently never falls. There is apparently a mathematical model that shows that the introduction of F1, Singapore Flyer and IRs will result in a probability of 0.000000000000000000000000000000001 that property prices will fall even in the event of a global recession. The only wildcard scenario that this could happen is if there is a cataclysmic event that involves the simultaneous blowing up of the supervolcano in Yellowstone, the San Andreas fault giving way and much of California goes into the pacific ocean, and a meteor the size of Texas hitting the  earth. That's why it is called Uniquely Singapore.... 

[Arythmic]

And we are not even talking about the health problems of a certain senior gentleman.

[those with]

vested interests continue to talk up the mkt. ML is being swallowed. Lehman fails. The deleveraging continues and you expect no repercussion on real estate both residential and commercial on a global basis.

[yeh right]

vested interests continue to talk up the mkt. ML is being swallowed. Lehman fails. The deleveraging continues and you expect no repercussion on real estate both residential and commercial on a global basis.

those who are hopping to buy one soon (either missed the boat before, sold too early or simply looking to buy one in the near future) are trying to talk down the market.. take about the big crash, where is the BIG crash huh?  are you getting a nervous...  I am, waiting to fish the bottom but not sure when...but at the same time, afraid that it may just swing up in the next few months!  STRESSFUL!!!!!!!!

[Reality]

vested interests continue to talk up the mkt. ML is being swallowed. Lehman fails. The deleveraging continues and you expect no repercussion on real estate both residential and commercial on a global basis.

Just to remind you there are certain areas in USA where prices are still going up. If this can happen in Ground Zero, then are you sure repercussions will be felt in every part of the world?

[2010 bottom]

if you are looking for the bottom you should plan for 2010. Following the current trend of 20% drop this year, this crash should slow a bit but keep drifting down over the next 2 years until affordible prices eg 40-50% drop from 2007 peak are reached.

[WTFF]

if you are looking for the bottom you should plan for 2010. Following the current trend of 20% drop this year, this crash should slow a bit but keep drifting down over the next 2 years until affordible prices eg 40-50% drop from 2007 peak are reached.

You must be a billionaire by now.

Stop dreaming about 40-50% drop in Singapore.

[check the trend]

20% drop in price in just 9 mths and 56% drop in transaction volume year on year means that if the curve doesnt change soon, we will hit 40-50% price drop very quickly.

Things are going from bad to worse to disaster. Credit Suisse predicted it exactly.