icer

Govt should really do something!!!

Seriously, I think there's a few reasons for this sudden rush. One of the reasons is that agents are using better tactics and strategies to engage and secure buyers before the Pre-Launch even. That gives the impression that it's hot and thus more people rush in, making it really hot. And others follow.... and more follow.... but how many more? I saw a few buyers where they just buy without even knowing much of what they bought. They wanted to invest and sell off in a few years or rent it out. So they don't really care about the facing, the level, layout etc. If the rental market continues to be bad, it would be difficult for these buyers to rent out as their units are not the most ideal. They have to find buyers too. Will the prices come crashing down then? Who knows?

Agree with you. I will wait unless I can find something that I really like.

Understand. Not looking at the rock bottom but lower quadrant. Now it's close to the peak!

If that is the case, the prices of HDB should fall right? But it's not!!

Me too! Now I am stuck. If I don't buy now and the prices keep going up, I am doomed. But if I buy now and the prices start falling, then my heart pain. How?

It was reported that prices of private homes fell by more than 5% in Q2.

Yah, with all the bad news and the rising H1N1 cases, I am not sure who are the ones snapping up units at the recent launches. It's quite weird to have the property prices going the opposite way as the whole economy. Given the huge supply of properties in the coming months, the prices won't go up that much right?

I was already going to get my property as I sensed that prices are going up. But given the recent analysis of the over supply and weakened rental demand and also the record low no. of jobs available in the market and falling retail sales revenue, I have decided to hold on and wait. At the most, I can still go for resale properties.

These are the sentiments now. Nobody is going to pay for what sellers are asking for nowadays without at least 20% slash. Sellers are not being realistic and hoping to get the price they dream of.

Yes, you can buy private properties but must stay in HDB.

Waiting lor......

http://smartpropertybuyer.blogspot.com/200...fell-70-in.html http://www.nst.com.my/Current_News/NST/fee...ad.php?id=65348 SINGAPORE'S OCTOBER NEW HOME SALES DIVE 70% ON-MONTH; EXPORTS SLUMPED SINGAPORE, Nov 17 (NNN-CNA) -- New home sales in Singapore dived 70 per cent in October compared to September as home buying sentiment continued to sour. According to Urban Redevelopment Authority’s (URA) data, developers sold 112 new and uncompleted private residential homes last month, versus the 380 units sold in September. They launched just 159 units for sale, compared to nearly 767 in September. The most expensive unit sold was at the Orchard Scotts development at Anthony Road, which went for S$2,407 per square foot.

I think so too. Still waiting.

Good for you. Many people have the same horrible experience like you. Not enough cash to buy pte then not enough cash to pay for the cash above valuation for resale flats as prices were too high and ridiculous. Then cannot get queue # for new flats. So, how much did you pay for the 2 bedroom small condo? location?

It starts with the high end property market then the rest might follow. Now HDB still got demand as people opt for cheaper alternatives as private properties are too expensive now. Also, buying HDB now will help reduce the loss if the bubble will to burst. It's too huge a risk to buy private properties now.

The prices are already dropping. We just have to hang on for a while more and we can get our ideal place at a good price!

They shouldn't have bought at that time. They are expecting prices to rise further and they could profit from it so they have to bear the risk. I only pity those who have no choice but to buy at that time.

Yah, if you are quite sure that you will be staying in the place for a long time and that you will not meet a situation that you can't handle your instalments and have to sell off your properties, then it's ok to buy it now. Cos in 10-20 years, definitely the prices will be higher than now so you will not bear any losses.

Agree with you totally. BT said that the prices will drop 40% in the next 2 years so I don't think it's a good time to enter now. Wait for another year will be good. If all of us stop buying now, the prices will drop faster and prove these people wrong. I also talked to a high level person working in Real Estate Company. He said that they are witholding some projects now cos the price is not good. He said it's good time to enter now as prices have dropped a little. He said the prices might go up in a short time. I chose not to believe him as he is doing properties. If everyone believe him, then they can revive the property market. It's a waiting game between the buyers and sellers.

Quick lor!!!

Prices should be dropping anytime now? Some property agents were briefed by their companies that the prices will be dropping towards the 2nd half of the year.

Initially I wanted to wait till I am 35 to get a flat. Then I start doing research on flats and a bit on private apartments. Then I realised the prices went up and up. Too fast for me to react as I wasn't really ready to buy at that time. Now it's too late for me to buy as I believe prices have peaked. Of course, there are beliefs that it can still go higher but I wouldn't want to harbour that thought. As I am still not 35 yet, I can still wait and see. When I am 35 next year, then I will have to re-evaluate if the prices have dropped and whether I should get a flat or private apartment. Worse come to worse, I will continue to stay with my parents till prices are right or I just buy a 3 room flat so that losses, if any, could be minimised.

In this way, I can never find a good time to enter the market. It's just too expensive now.

So, is the property market going to go down given the crashing of stock market?