Resale Flat Demand Falls

[neubie 2]

http://www.channelnewsasia.com/stories/singaporelocalnews/view/1149129/1/.html

SINGAPORE: Demand for resale flats has fallen by about 20 per cent since the raising of the income ceiling for Build-To-Order (BTO) flats.

This is according to property agents who added that the cash-over-valuation (COV) prices are also starting to fall.

The income ceiling for BTO flats was raised less than two weeks ago from S$8,000 to S$10,000.

But property agents Channel News Asia spoke to said they are already getting fewer queries about resale flats, as prospective buyers switch to BTO projects.

Another agent said the new rules may be making resale flat sellers more cautious in setting COV prices.

External factors also come into play.

OrangeTee research & consultancy head Tan Kok Keong said: "These measures come at a time when the external economic threats have increased, which probably play a part in the slow down in market activities over the past two weeks."

But the real impact of the new measures on resale flat prices, said property agents, would only be seen in three to six months' time, when more BTO projects are launched.

[Always Happy 0]

Shall wait and see.

i bet its going up or remains the same more or less

[dinobros 1]

Lower demand but with the low supply price will still go up.

The time when we can expect a drop will be in 3 years when a lot of BTO is ready and many owner will have to sell their flats.

[Mondy 0]

My take,

Higer income ceiling means more people going for BTO, so the recent announcement to increase supply of new flats was probably to cater to this segment.

Demand of resale, and cov will be affected for the very short term only, very much a knee-jerk reaction.

Considering the hundreds of thousands FTs who will be granted resident status during these couple of years, resale flats will continue to be in high demand, and cov will continue to break new highs.

[MsChoong 1]

Property value will only go up, never go down.

[Xanana 0]

it will dip alittle and stablise and shoot up again some time june 2012 and it will dip again in end 2012

[HappyHouse88 0]

it will dip alittle and stablise and shoot up again some time june 2012 and it will dip again in end 2012

It will dip after Q1...and may take a long long time to recover... as the demand dwindle

1) alot of mass mkt condo is going to top in mid 2012. So hdb upgrader will be selling their current flat, if not rent out their flats. As the rental become more competitive, more will be compel to sell, rather to rent out.

2) 1-time house owner will be turning to bto or balance flat. Noting that there is still quite a number of leftover from prev bto.

3) Mass mkt condo dips. As it is there parc vera (hougang) is selling cheaper than boathouse and palette (pasir ris) is selling cheaper than nv residence. Prices for mass mkt condo is moving downwards. It will make less sense to buy a hdb that is price of a condo.

4) upgrades, or 2nd timer will be waiting for KBH to "tweet" the 2nd timer chance that he mentioned this wk.

There will be a huge dip just like 1999. As upgraders tries to cash out asap because they already put in downpayment for their condo and was expecting $x of precede from selling their current flat. I wont be surprise if ppl is start to default on their EC/DBSS.

Edited November 18, 2011 by HappyHouse88

[HappyHouse88 0]

Property value will only go up, never go down.

You are so naive... during the period btw 1999-2004, new hdb at sk and punggol has no buyer.. and owners are forced to sell below their buying price.

[rachelcheng 0]

it will dip alittle and stablise and shoot up again some time june 2012 and it will dip again in end 2012

I am with you on this.

[matrix0405 0]

It will dip after Q1...and may take a long long time to recover... as the demand dwindle

1) alot of mass mkt condo is going to top in mid 2012. So hdb upgrader will be selling their current flat, if not rent out their flats. As the rental become more competitive, more will be compel to sell, rather to rent out.

2) 1-time house owner will be turning to bto or balance flat. Noting that there is still quite a number of leftover from prev bto.

3) Mass mkt condo dips. As it is there parc vera (hougang) is selling cheaper than boathouse and palette (pasir ris) is selling cheaper than nv residence. Prices for mass mkt condo is moving downwards. It will make less sense to buy a hdb that is price of a condo.

4) upgrades, or 2nd timer will be waiting for KBH to "tweet" the 2nd timer chance that he mentioned this wk.

There will be a huge dip just like 1999. As upgraders tries to cash out asap because they already put in downpayment for their condo and was expecting $x of precede from selling their current flat. I wont be surprise if ppl is start to default on their EC/DBSS.

I'm with you. Once the economy tank and recession set in, not only the upgrader selling, PR who lost their jobs will also be cashing out their flat and leave the country. The sell queue is going to be long, after Q1.

[forgotten 1]

More Indians coming soon

SINGAPORE: Singapore and India will collaborate in vocational skills cooperation and inter-parliamentary exchanges.

Prime Minister Lee Hsien Loong announced the new areas that both countries will venture into when he hosted lunch for his visiting Indian counterpart, Dr Manmohan Singh, on Sunday.

He said both sides will sign a Memorandum of Understanding on cooperation and personnel management and public administration.

They're also launching a programme to promote exchanges in the arts and heritage.

On the Comprehensive Economic Cooperation Agreement between Singapore and India, Mr Lee said he hopes to conclude a review of it early to enhance trade and investment links.

[forgotten 1]

Inflating the prices of properties is one of government's ways to lock up more of our CPF money. Let's see if they stop feeding this golden goose?

[icer 0]

Agree. For these few reasons, there's no reasons for the prices to continue to go up. It will be coming down soon. I also realised that the COV for the transacted deals are going down. Those still asking for high COVs are those that usually takes a long time to sell if they ever sell.

It will dip after Q1...and may take a long long time to recover... as the demand dwindle

1) alot of mass mkt condo is going to top in mid 2012. So hdb upgrader will be selling their current flat, if not rent out their flats. As the rental become more competitive, more will be compel to sell, rather to rent out.

2) 1-time house owner will be turning to bto or balance flat. Noting that there is still quite a number of leftover from prev bto.

3) Mass mkt condo dips. As it is there parc vera (hougang) is selling cheaper than boathouse and palette (pasir ris) is selling cheaper than nv residence. Prices for mass mkt condo is moving downwards. It will make less sense to buy a hdb that is price of a condo.

4) upgrades, or 2nd timer will be waiting for KBH to "tweet" the 2nd timer chance that he mentioned this wk.

There will be a huge dip just like 1999. As upgraders tries to cash out asap because they already put in downpayment for their condo and was expecting $x of precede from selling their current flat. I wont be surprise if ppl is start to default on their EC/DBSS.