How you view the property market now?

[joeubk]

I understand the people in this forum is either buying/selling their property and I would like check with all on your take of the property market now………

Lately, there are lot of news about enbloc sales and high land tender price, the market seems to be turning a corner after the down trend of the past years. Although I am sure the gov will not relax the cooling measures any time soon especially ABSD and TDSR but is this nascent enthusiasm sustainable to push the prices higher? This is improving sentiment is pushing the fence siting buyer to take the plunge. I have been in the market recently looking around and can sense the increased activities and buyer/seller enthusiasm.

However with the uncertain global economy and security situation plus the certain interest hike which will affect the market sentiment, will it better to hold and wait for awhile until a clearer picture emerge? I am looking for both own stay and investment.

What is the actual situation on the ground?

Thanks.

 

[SBC]

The good sentiment by developers to bid higher for enbloc and land sale had reflected the projected surge in the coming years.

 

[Clazav]

I understand the people in this forum is either buying/selling their property and I would like check with all on your take of the property market now………

Lately, there are lot of news about enbloc sales and high land tender price, the market seems to be turning a corner after the down trend of the past years. Although I am sure the gov will not relax the cooling measures any time soon especially ABSD and TDSR but is this nascent enthusiasm sustainable to push the prices higher? This is improving sentiment is pushing the fence siting buyer to take the plunge. I have been in the market recently looking around and can sense the increased activities and buyer/seller enthusiasm.

However with the uncertain global economy and security situation plus the certain interest hike which will affect the market sentiment, will it better to hold and wait for awhile until a clearer picture emerge? I am looking for both own stay and investment.

What is the actual situation on the ground?

Thanks.

High land bid is due to developers wanting to accumulate enough land to develop in the near future, like 1 - 2 years from now, where the sentiment is expected to improve further. But nowadays people are also having the mentality of buying new condo rather than resale ones. High price for new condo doesn't mean that the market has improved in general. I would prefer to buy a resale private instead of a new one, or a new private that is launched 1 - 3 years ago and under construction.

 

[dnsfpl]

resale price is picking up too

 

[SBC]

Good for single 35 to pick up HDB resale.

 

[hyman]

The good sentiment by developers to bid higher for enbloc and land sale had reflected the projected surge in the coming years.

Some are of the view that the next economic crisis is about due (after the last which was almost a decade ago), and the market will undergo major corrections by then.

As such, they will adopt wait and see approach and hope to buy low during the crash.

 

[sg_investor]

Nobody seems to sell short their properties.

 

[malaikai2005]

Singapore is only a small island
How many more land we can spare for housing?
Its just a matter of time housing prices will pick up again
Just look around you
What things you see are getting cheaper
NON i suppose

 

[$ofhie888]

Is renting better then buying a house now?

 

[Clazav]

Due to cooling measures in 2013, sg ppl have been waiting for the right time to buy properties these few years. But it has been a long wait. Many are not going to wait anymore and would like to jump in within these two years. That you can see from the high psf of park place, seaside etc. Between 2013 to 2016 there has being a drop in the number of transactions compared to the years before 2013.

 

[cscs3]

Agents will tell you is a good time to buy. But if you look at those unit not sold/left and project is already TOP. Everyone know the answer.

 

[hyman]

Is renting better then buying a house now?

Depends on how long you want to rent.

Time flies and the renters could be still renting after many years.

Better be prepared to buy if intend to stay for the longer term.

 

[lorenzo86]

I have been monitoring the property market for the past few months.
Wanted to hoot a tiny private unit for investment. but the current markets doesn't seems have any clue.

The only thing i realised is
Good(cheap) price cannot find good unit
Good unit cannot find good(cheap) price

I am not asking for a super low price. but the market seems overvalue for those good unit.

 

[Laneige]

Is renting better then buying a house now?

If u r expecting prices to come down n buy later on
I have friend sold house n rent
But that's the period where prices only go up not down
End up go buy a new unit also. Think they wasted a lot on rental
Nowadays condo rent out 2-3k liked hdb I'm wandering why ppl still rent hdb

 

[joeubk]

I have been monitoring the property market for the past few months.
Wanted to hoot a tiny private unit for investment. but the current markets doesn't seems have any clue.

The only thing i realised is
Good(cheap) price cannot find good unit
Good unit cannot find good(cheap) price

I am not asking for a super low price. but the market seems overvalue for those good unit.

Which area you are looking at? Geylang?

Studio apartment absolute quantum is small and most owner has the holding power. Studio apartment is easy to rent out too...so they are not desperate to sell.

But its good to look around and you might find a good deal. I have came across desperate seller due to some reason is flexible in their prices both 99 and FH. I am still looking around.

 

[hyman]

If u r expecting prices to come down n buy later on
I have friend sold house n rent
But that's the period where prices only go up not down
End up go buy a new unit also. Think they wasted a lot on rental.

Indeed, the sell-rent-buy type rarely works out in the end, coz very difficult to time the market.

Rental aside, also incurr significant costs on selling/buying/reno/furnishing...

Worst case tio ABSD and SSD some more.

Nowadays condo rent out 2-3k liked hdb I'm wandering why ppl still rent hdb

They serve different market segments: Condo for facilities, HDB for spaces/savings.

 

[joeubk]

If u r expecting prices to come down n buy later on
I have friend sold house n rent
But that's the period where prices only go up not down
End up go buy a new unit also. Think they wasted a lot on rental
Nowadays condo rent out 2-3k liked hdb I'm wandering why ppl still rent hdb

My take is even the current market move up it will not like the previous boom time, it will be a very gradual progress or temporary with those CM still on. The rental is still in the decline and that will put a damper on the property prices. I felt that the market is in some what confused state. The minor relaxation by the gov can be view that the gov is expecting the market to get worst in the near future and the relaxation is to reduce the impact to the property buyer. Its definitely not in the interest of the gov to want the property market to get hot again with all the negative political and economic effect.

 

[mikezuper]

Singapore is only a small island
How many more land we can spare for housing?
Its just a matter of time housing prices will pick up again
Just look around you
What things you see are getting cheaper
NON i suppose

As long as gahmen pipelining the 99 years lease property well in the schedule, there will always be land available for the optimum/maximum number of people allowed in this island.

Look at bigger picture and put yourself in the policy maker shoes.

And dont forget they can change the rule anytime.

 

[hyman]

As long as gahmen pipelining the 99 years lease property well in the schedule, there will always be land available for the optimum/maximum number of people allowed in this island.

Look at bigger picture and put yourself in the policy maker shoes.

And dont forget they can change the rule anytime.

Adjusting Plot Ratio is among the tools.

 

[theblueark]

My feeling is we're in an economic bubble that could pop.

And I think a lot of Singaporeans had bought into the idea of heavily borrowing to own more than one property.

If the bubble pops and retrenchment exercises begin, the ones who over extended themselves will be forced to do fire sales.

But I also think there are a lot of people with liquidity waiting on the sidelines for this to happen. So that may balance out the supply/demand ratio.