Condo price in Singapore(those looking to buy in 2024)

[webdeveloper]

My 4 rm HDB I post ad many many offers in a few days. 191% of the price I bought 5 yrs back

Dunno about condo but HdB still hot

Yea recently property lim brother yt channel show data that listing of property drop quite an amount for HDB and landed while condo listings spike up... Mean condo supply is increasing... Supply increase price drop

 

[webdeveloper]

If u got good location will have buyers one. My place top almost 2 years laio still have ppl want to get my stack config. Unit layout also very important btw

Yea layout and external facing... I also see Feng Shui too

 

[crazythen]

Do you think there is a chance for the condo price to drop this year? Economy not good and 44 new launch this year which will increase the supply. Lastly a lot of TOP condo want to sell so they can buy the new launch.. got chance to pick up durian?

It will cont on the uptrend albeit slower pace. HDB prices are correlated to Condo. Can’t allow it to crash. So will maintain and progressively loosen the cooling measures.

 

[testerjp]

Property should start seeing bigger movements in corrections from Q3 onward.

One sector of buyers are gone.

Iirc the inflation rate report in USA right now don't look good and may spur for higher or longer periods of high interest again.

Govt can moderate the demand by controlling the stamp duties, particularly absd.

Iirc, hk has lifted all their duties to keep prices from falling. Sg may also adjust when the time comes.

Putting all factors together, it is unlikely to be a good time to buy.

 

[webdeveloper]

Why will owner sell u cheaper? I think u under estimate their holding power.

yea agree now need transaction price to show me if i can press the price down.. why sell cheaper? because 1 name can only hold 1 property free of absd... so to facilitate of selling the property with profit and jump to new launch, if they too strict on the price they will miss new launch

 

[webdeveloper]

If i understand u correctly, u r not saying prices come down, just stable or increase at a slower pace than previously.

I think this might be the case too, ie buyers less likely to pay much higher prices.

The other side will of cos be whether sellers are willing to accept such offer. If not, they will just hold.

yes that is what i meant definitely no one will sell you at their purchase price and the property index will not dip past previous low.. just that now the profit condo seller is looking for is crazy

 

[drkcynic]

Property should start seeing bigger movements in corrections from Q3 onward.

One sector of buyers are gone.

Iirc the inflation rate report in USA right now don't look good and may spur for higher or longer periods of high interest again.

Govt can moderate the demand by controlling the stamp duties, particularly absd.

Iirc, hk has lifted all their duties to keep prices from falling. Sg may also adjust when the time comes.

Putting all factors together, it is unlikely to be a good time to buy.

But if you don't buy now, then you buy when?

When supply and interest rates are low?

Then get ready another 200psf.

 

[webdeveloper]

But with new launch vs resale. Depends on budget you have.

if your budget is 1.5. Ocr can still get 3 bedder but new launch that’s 2 bedder range. So lowballing won’t be a consideration. Sellers got choice when they can hold

true... but end of the day is all about transactional price and who is more urgent if they dont sell, they can use the profit to flip new launches

 

[webdeveloper]

nothign wrong with buying resale.. they are normally in better location and bigger size..
if chiu wanna rent out ish no problem one even with decaying lease if that's chiur issue chiu are concerned about with leesale

not renting for own stay

 

[rabies79]

Where is your 1 bedder??? 3 mil 4 bedder also too expensive

What I meant is after rolling and rolling. Can't be 1st owner buy 1 mil sell to second owner 1mil also. Then subsequent second to 3rd and 3rd to 4th owner. It will end somewhere in the cycle I guess.

 

[webdeveloper]

My question is if your savings investment tracks the property price increase anot. If it doesn’t means then even at your lowballing price u might be catching a falling knife

true

 

[usarmy]

Do you think there is a chance for the condo price to drop this year? Economy not good and 44 new launch this year which will increase the supply. Lastly a lot of TOP condo want to sell so they can buy the new launch.. got chance to pick up durian?

If price drop 15%, chiu will enter?
Or chiu will wait again thinking price will drop 30%?


Sent from EDMWER!

 

[webdeveloper]

It will cont on the uptrend albeit slower pace. HDB prices are correlated to Condo. Can’t allow it to crash. So will maintain and progressively loosen the cooling measures.

wont crash.. hope a small dip will do

 

[webdeveloper]

Property should start seeing bigger movements in corrections from Q3 onward.

One sector of buyers are gone.

Iirc the inflation rate report in USA right now don't look good and may spur for higher or longer periods of high interest again.

Govt can moderate the demand by controlling the stamp duties, particularly absd.

Iirc, hk has lifted all their duties to keep prices from falling. Sg may also adjust when the time comes.

Putting all factors together, it is unlikely to be a good time to buy.

yea i think so too...

 

[webdeveloper]

What I meant is after rolling and rolling. Can't be 1st owner buy 1 mil sell to second owner 1mil also. Then subsequent second to 3rd and 3rd to 4th owner. It will end somewhere in the cycle I guess.

yea

 

[usarmy]

What I meant is after rolling and rolling. Can't be 1st owner buy 1 mil sell to second owner 1mil also. Then subsequent second to 3rd and 3rd to 4th owner. It will end somewhere in the cycle I guess.

Of course, most property is 99yrs leasehold. Getting older and problematic to be resolved...


Sent from EDMWER!

 

[webdeveloper]

If price drop 15%, chiu will enter?
Or chiu will wait again thinking price will drop 30%?


Sent from EDMWER!

go in... no question asked.. i can hold

 

[usarmy]

go in... no question asked.. i can hold

Then chiu probably can pick durian even now? I thought someone posted some condo selling at loss.

https://www.edgeprop.sg/property-ne...48-out-50-sellers-lost-money-district-9-condo

That been said, good property during bad time they won't drop much, if is really good value, those bigger fish, developer will snapping up before chiu even discover...


Sent from EDMWER!

 

[dgeralds]

The biggest owner of land in Singapore is the government. They choose the highest bidder for the land. They can even reject all the bids. In addition they know to control the property market via ABSD. In other words, they make maximize revenue with almost zero risk, anyway most land goes back to them after 99 years. Given these conditions and governments ability to cool the market, prices come down only in worst cases. But if one is able to hold on for long enough, the prices will bounce back. I believe the property is a bad investment at this point in Singapore.

 

[testerjp]

But if you don't buy now, then you buy when?

When supply and interest rates are low?

Then get ready another 200psf.

I don't think low interest rates u saw 10 years ago will come back anytime soon in the next few decades.

It may take a long time to recover so I don't think it's good to fear missing the boat.

For now, many may just put their $ into Tbills/bonds and earn on the interest.

Despite having good holding power, there will be those that see that it's becoming a negative asset.
With the high property tax, higher interest , increasing maint fees and unable to rent their properties out.

These are the big factors that could change the tide.