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Property Market Boom Bubble?

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Go for pty whose prices haven't increased as much yet. Eg. old ECs (still selling below developer's prices, and many of these are near MRT stations...but pl. note that these are 99 leasehold pty and will depreciate accordingly) and five rooms/ Execs HDB flats. The execs in my estate (20k cash above valuation) are still selling 40k below 2002 prices. My take on pty is that if you need a place, research and buy what you can afford. Why wait? The bubble can last 2 years, 5 years, 10 years, who knows? Can you afford to wait?What matters is that you get a pty that meet your needs, that you can afford and can stay happily.

western big investors now hype up the market when time is right...they pull out..causing a big mess to China...a plot to bring China down, when the stock market down, will agect all asia stock market, then also will affect peoperty market. so now the period is not good to invest high risk investment.

 

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western big investors now hype up the market when time is right...they pull out..causing a big mess to China...a plot to bring China down, when the stock market down, will agect all asia stock market, then also will affect peoperty market. so now the period is not good to invest high risk investment.

Wow! Conspiracy theory huh?

I think the property market will move up for quite a few years. This supported by economic fundamental, Spore economy has seen continuing good growth since 2004, IR factor, pop target of 6.5million, influx of foreigners.

In fact Anglo countries like UK, Australia, NZ and US (bubble just pop) has seen their property market going up for a long time in some cases up to 10 years with no sign of a downturn. Even when it pop, there is no gurantee it will drop below the level where it begun its ascent.

There is no doubt there will be a downturn but when?

Are you willing to wait like 3 years, 5 years or 10 years for your dream home? If you can then wait lor but I suspect it will a long while.

 

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Even when it pop, there is no gurantee it will drop below the level where it begun its ascent.

Maybe not below the level it began its ascent, but it may pop to below the level of entry. The higher the prices move up, the higher the risk of the prices moving to below your point of entry (assuming you are planning your point of entry).

 

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Think the foreigners who invest in Singapore didn't invest blindly...in the global city property market, Singapore is still cheap thanks to the protracted down turn in the property market. The market only improved significantly last year since 1996...that's like almost ten years in the dumps...can the property market still continue to be so low for so many years with the IR coming up?

Think the people who wish for low property prices should spare a thought for the millions of Singapore property owners whose private and public housing property are still languishing sadly way below their purchase prices. Except for certain newly launched D9, D10 and D11 developments, most of the other property are still at a fraction of their glorious past prices. While the prices has inched up, the so call property boom is not wide spread and there are many suburbs that continue to be in the dumps.

Edited by Homeowner
 

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Just another thought...the years of low property prices were also dark years for many Singaporeans...think 1987 - high unemployment and retrenchment rates, job uncertainty, high bankruptcy and business failure rates... Even if you can afford wait for the next cycle...I wonder how many of us would be financially secure and confident enough to purchase our dream home then.

Remember the Class 95 FM advertisement? Only hear remember the good stuff.

 

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Go for pty whose prices haven't increased as much yet. Eg. old ECs (still selling below developer's prices, and many of these are near MRT stations...but pl. note that these are 99 leasehold pty and will depreciate accordingly) and five rooms/ Execs HDB flats. The execs in my estate (20k cash above valuation) are still selling 40k below 2002 prices. My take on pty is that if you need a place, research and buy what you can afford. Why wait? The bubble can last 2 years, 5 years, 10 years, who knows? Can you afford to wait?What matters is that you get a pty that meet your needs, that you can afford and can stay happily.

problem is it's getting harder to spot genunie seller ... everyone is trying to cash-in and who can blame them ? As someone said, if i hike my price to $x dollars (even if it is not realistic), who cares if someone who can afford wants to pay for it ?

so alot of sellers are joining in the fray ....

just seen 1 yesterday, man, it's unbelievable .. but the owners are adamant they want a certain price for it and would not even want to buldge a cent lower ;)! kekeke ... me honest take it is worth at least a good $250K below what they are asking.

 

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Go for pty whose prices haven't increased as much yet. Eg. old ECs (still selling below developer's prices, and many of these are near MRT stations...but pl. note that these are 99 leasehold pty and will depreciate accordingly) and five rooms/ Execs HDB flats. The execs in my estate (20k cash above valuation) are still selling 40k below 2002 prices. My take on pty is that if you need a place, research and buy what you can afford. Why wait? The bubble can last 2 years, 5 years, 10 years, who knows? Can you afford to wait?What matters is that you get a pty that meet your needs, that you can afford and can stay happily.

My buyer is paying $55k cash above valuation. He just set a record.

 

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How much was the valuation?

:)

what type of flat?

EM. 162 sqm. CCK. Top floor. Reno. ($43k) done < a year ago.

The buyer probably put in a high cash offer to cover some of the reno. costs, not intending to renovate anymore.

Edited by Homeowner
 

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not surprising - the property market is really hot! Sold the place that i moved into 6 months ago for a nice tidy sum and the new place that i've bought has already appreciated by a nice tidy 6-figure sum since i bought it one week ago.

 

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Moral of the story...if you find a place that is reasonably priced (within the transacted range and your budget) and reasonably nice...better grab 'cos its not a buyer's market anymore. Of course, do your homework to ensure your buying price is not way above the market.

But, Spikey, a 6 figure increase over a week is way abnormal...which condo is that?

Edited by Homeowner
 

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Moral of the story...if you find a place that is reasonably priced (within the transacted range and your budget) and reasonably nice...better grab 'cos its not a buyer's market anymore. Of course, do your homework to ensure your buying price is not way above the market.

But, Spikey, a 6 figure increase over a week is way abnormal...which condo is that?

It's a landed property that has already TOP with a number of units still available. My new next door neighbour paid that much more than me 'cos he submitted his/her offer one week later.

 

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