Jump to content
Find Professionals    Deals    Get Quotations   Portfolios
Sign in to follow this  
icer

Property Market Boom Bubble?

Recommended Posts

IC. Congrats to you. :)

Just wondering - is there a difference in the facing e.g. facing T-junction, nearer main road, etc.?

nope - no difference. The entire row consists of about 15 houses. Our houses were in the middle.

 

Share this post


Link to post
Share on other sites

Join 46,923 satisfied homeowners who used renotalk quotation service to find interior designers. Get an estimated quotation

Depends on what is the price of the property, it's not totally a surprise if its $3-4 million. $100,000 is a small % then.

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.

Yes. But what if we cannot achieve the 6.5 million population?

Then we will have a lot of excess housing. Dun forget a lot of new developments starting now and still a lot of empty flats at the sub-urban areas like Jurong West, Seng Kang, Punggol, Yew Tee, Woodlands, Sembawang etc?

So can guess what will happen to the price then?

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.

 

Share this post


Link to post
Share on other sites
But what if we cannot achieve the 6.5 million population?

Then we will have a lot of excess housing. Dun forget a lot of new developments starting now and still a lot of empty flats at the sub-urban areas like Jurong West, Seng Kang, Punggol, Yew Tee, Woodlands, Sembawang etc?

So can guess what will happen to the price then?

Err..

The figure of 6.5Mil is not a population target. It is a planning assumption for the various govt agencies to size public infrastucture, such as housing, transportation and utilities. It could simply mean a lot more transient tourists or short course students, not necessarily resident population.

Property prices correlates to demand for a certain locality. There were tons of empty flats in JW and Ponggol, yet property prices in the central area still rose last 2 yrs. There is no basis to say just becuase there are empty flats in JW will imply that central area prices will stabalise/ collapse.

Such a situation suggests that ppl like to live in areas of high commercial activity. So if the regional centre concept plans takes off, in areas such as where the circle line stations interchange with the existing MRT lines, places like Serangoon could be another Dohby Ghaut, Novena or Tiong Bahru.

 

Share this post


Link to post
Share on other sites
Depends on what is the price of the property, it's not totally a surprise if its $3-4 million. $100,000 is a small % then.

nope - it's under $1.8m

 

Share this post


Link to post
Share on other sites

Possible too.

Got a fren who bought a private property at $1m and in 6 months time, it's $1.5m now.

Gosh.

nope - it's under $1.8m
 

Share this post


Link to post
Share on other sites

with prices going up and up ... sellers must be enjoying seeing prices of their homes rising .. but one gets brought back down to reality when u see the price u need to pay for a new place after selling yours !

:notti:

so in the end, it's still "Sell High, Buy High" or "Sell Low, Buy Low" ...

 

Share this post


Link to post
Share on other sites

For the private properties, it is supposed to be a free market.... that means prices are determined by demand and supply forces... therefore it is not always good to have govt intervention all the time.... in fact, there should be lesser govt intervention the better...

Apparently, the govt seems very happy to have the property prices going up.
Edited by taichizi
 

Share this post


Link to post
Share on other sites
with prices going up and up ... sellers must be enjoying seeing prices of their homes rising .. but one gets brought back down to reality when u see the price u need to pay for a new place after selling yours !

:sport-smiley-004:

so in the end, it's still "Sell High, Buy High" or "Sell Low, Buy Low" ...

not really. u can sell high during the boom then wait until recession to buy back low. Timing is the essence. But how long we have to wait???? only God knows, even the best economist also dun know :sport-smiley-004:

some ppl actualy rent a flat instead of buying now , they wanna wait til price low low then buy. one famous example :sport-smiley-004: Chen Hanwei!

 

Share this post


Link to post
Share on other sites

I had a neighbour who sold his 2 storey interterrace house for $200k+ in the 1980s, thinking that he can buy back later...until today, he's still renting.

 

Share this post


Link to post
Share on other sites
Possible too.

Got a fren who bought a private property at $1m and in 6 months time, it's $1.5m now.

Gosh.

Don't be too happy. The $1m is the transaction price, while the $1.5m could merely be the offer price. I bought my property at $1.4m just over 2 years ago. I have agents telling me that they can fetch me a price of over $2m. Yeah right.

 

Share this post


Link to post
Share on other sites

At all times (good or bad), buy within budget cos you dun want to default on housing payments.

If I had private ppty, I will definitely sell and then take up HDB. Will have $$$

 

Share this post


Link to post
Share on other sites
Don't be too happy. The $1m is the transaction price, while the $1.5m could merely be the offer price. I bought my property at $1.4m just over 2 years ago. I have agents telling me that they can fetch me a price of over $2m. Yeah right.

Hi Archer, go for it man :sport-smiley-004:! Ask that agent to get $2.3m for you lah .. who knows ... you might be lucky .. then u'll have dilema where to buy ... kekeke

My friend's condo, got enbloc for $x, happy as bird, and then paid exactly $x for another condo :P! back to square one ... kekekeke

 

Share this post


Link to post
Share on other sites
not really. u can sell high during the boom then wait until recession to buy back low. Timing is the essence. But how long we have to wait???? only God knows, even the best economist also dun know :sport-smiley-004:

some ppl actualy rent a flat instead of buying now , they wanna wait til price low low then buy. one famous example :P Chen Hanwei!

that's always the ideal situation but in reality ... often hard to achieve ...

but even rentals everywhere have gone up ... some shockingly high !

 

Share this post


Link to post
Share on other sites

This applies to private property. Actually, you can buy low, sell high. Take the profits from selling high and then buy high and sell even higher.

Your profits from the first sale is locked in. But of course, don't overstretch for the second property.

 

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

×