property market in singapore still very strong

[propbuyer]

just been to a preview of one the condos near park parade shopping centre in the east...prices are quite high and selling...TOP is a long way off too. Prices are arnd 1450 psf for low floors...and 1750 psf for high floors.... and by the time we were there quite a few have been sold at these prices...very strange, but the market is holding up....

[Kubes.SG]

That is really great news for you.  And potentially a great deal for the sensible (mainly expat) investors here.  Why don't you go and buy two or three of these properties this week.  Many of us who reckon prices will crash in Singapore, will probably still be here and we can snap-them-up from you in 2010 or 2011 for about $870/psf for the low ones and $1050/psf for the high floors.

Deal?

Off you go to the bank.  Singapore needs more propbuyers just like you.

[propbuyer]

be respectful &honest - kubes? perhaps you should take your own advice....and be respectful..

mate - I did not buy as I thought it is too expensive for me....I wouldn't sleep well at night with a mortgage of 2 m (even with a 20% deposit)

however, I am providing first-hand market evidence....basically, the market is holding up. people were buying. I tried to push very hard for a discount - but no luck. however, the developer was selling only releasing one tower....I think they are planning to gradually release these...i.e not flood the market.

personally - I will wait a while - any case I own a smaller unit...so I am in the market so to speak...

[rhe facts]

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

[serious?]

I am not well informed or a statistics guru like some on this board (by the way I take my hat off to you) but to me this just all doesn't make sense. First off, I live in the E.Coast and see these new developments every day. I have to say that they are very small and very poorly built. My friend bought one of these shoe boxes which she has now lived to regret. So with this in mind I think unless you are single or married no kids, as an expat you are not going to live in a 1200 sq foot shoe box. Next point is - why would a local, who can live in a HDB which is bigger, have all their community/ friends around them and pay much less ( no one pays 1-1.5 million for a same size HDB right?) buy to live in one of these poorly built shoe boxes? To me I can only think that people are buying to let which to me is a bad idea as the no. of expats who can afford 5-10K rents has drastically reduced. In fact most of the people I hear from have said hiring is frozen or some people are being shipped out. I'd be interested to see these statistics.

[Excuse Kubes]

be respectful &honest - kubes? perhaps you should take your own advice....and be respectful..

mate - I did not buy as I thought it is too expensive for me....I wouldn't sleep well at night with a mortgage of 2 m (even with a 20% deposit)

however, I am providing first-hand market evidence....basically, the market is holding up. people were buying. I tried to push very hard for a discount - but no luck. however, the developer was selling only releasing one tower....I think they are planning to gradually release these...i.e not flood the market.

personally - I will wait a while - any case I own a smaller unit...so I am in the market so to speak...

Excuse Kubes. We all know he is a "talk-cock king" as the locals put it. He will be a perpetual bear. When the bull comes back he will change his nick and will continue with the same old nonsense.

[IMH]

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

For isolated devps and units yes but across the board including mass market falling 15-20%? Please get your head checked.

[it will come]

it will come >>>> the fall will come, as "investment banks" continue to fail. If you are in posession of yr mental faculties you wont buy.

[GOVT stats]

These are based on Govt stats. Are u calling the Govt a liar? Read them and weep.

"The median price for private apartments/condos picked up by HDB upgraders in the subsale market declined 8 per cent Q-on-Q to $871 psf in Q2 this year.

Subsales - often seen as a reflection of speculative activity - refer to secondary market deals in projects that have yet to receive their Certificates of Statutory Completion.

The total number of subsales for non-landed private homes rose 25 per cent quarter-on-quarter to 493 in Q2 2008. They made up about 17 per cent share of transactions of non-landed private homes in Q2.

‘This is high considering that there’s very little speculation now compared with last year. Rather, the subsale activity in Q2 seems to have been fuelled by those who’d bought units in the past few years unloading their investments as their units reach or near completion,’ DTZ said.

The median subsale price (of non-landed private homes) continued to fall by 5 per cent quarter-on-quarter to $1,052 psf in Q2 after sliding 8 per cent in Q1 and 4 per cent in Q4 2007.

[eventually real]

real estate will suffer. Dwindling transaction sales volume is an indicator.

[Contrarian]

it will come >>>> the fall will come, as "investment banks" continue to fail. If you are in posession of yr mental faculties you wont buy.

Buy when everyone is scared like you. It is time to sell when you become bullish.

[ha a boo hoo]

Think this is like stocks and be contrarian .... issit? Really boo boo. So naive. 

[56% transaction drop]

end 2008 Fin year results are in. There was a 56% drop in the number of property sales from previous.

No wonder the agents have sooo much time to spend on this board. They have no customers!!!! 

[1st degree Dumbo]

Think this is like stocks and be contrarian .... issit? Really boo boo. So naive. 

Eh goondu, why cannot be a contratrian in property investment?

[one by one the]

mortgage back securities of IBs fail. Wealth is being wiped out. The IBs have had it too good for many years. Anecdotal evidences also point to decreasing net worth of many. All asset classes will be affected. Sg property will also not be spared. Those who bought and leveraged will have to unwind. The deleverging has still some way to go. Those who bought Sg property at heady and bubbly prices can only suffer in silence as tthey have no recourse. Some try to talk up the market. So funny or farnee