Advice on buying HDB resale now

[MESSY7]

Hi bros, thinking of getting a resale flat after 3 failed BTO tries.

Was thinking of the Redhill or Holland V area...

But then, not sure if its better to hold back the money and wait till prices drop further...

HDB prices like drop a little bit leh.

Any bro can advise?

 

[ckling]

redhill and holland v price still very high...

 

[kingkongikiss]

hi any one serious looking for ang mo kio area? contact me.
nearby yio chu kang mrt area

 

[Verbatin]

Seems that valuation did not really drop a lot and only COV has dropped (especially for lousier location). For good location, there is still COV

HDB volume has also started to pick up as the expectation gap between buyer and seller has narrowed.

Current cooling measures will eventually lost its effectiveness in another 1-2 year’s time because by than buyer would have saved enough money to meet their down payment/loan requirement

It does appear that HDB price has stabilized - in fact price has stablilized for 3 consecutive month and another few months of price not dropping will further provide more evidence that price might have bottom out

of course if another major crisis suddenly happen, all above discussions will be thrown out of the window

Hi bros, thinking of getting a resale flat after 3 failed BTO tries.

Was thinking of the Redhill or Holland V area...

But then, not sure if its better to hold back the money and wait till prices drop further...

HDB prices like drop a little bit leh.

Any bro can advise?

 

[ccostagmont]

Seems that valuation did not really drop a lot and only COV has dropped (especially for lousier location). For good location, there is still COV

HDB volume has also started to pick up as the expectation gap between buyer and seller has narrowed.

Current cooling measures will eventually lost its effectiveness in another 1-2 year’s time because by than buyer would have saved enough money to meet their down payment/loan requirement

It does appear that HDB price has stabilized - in fact price has stablilized for 3 consecutive month and another few months of price not dropping will further provide more evidence that price might have bottom out

of course if another major crisis suddenly happen, all above discussions will be thrown out of the window

fed. interest rate increase will have impact on housing loans in singapore?

or has the banks priced it in already?

will buyers hesitate to commit?

 

[Verbatin]

I feel that cooling measure has a bigger impact than interest rates. Cooling measures require the buyer to come out with a higher upfront down payment and they cannot borrow as much as they would like to.

So long people still has a job, impact of rates increase is not likely to impact people who buy within their mean. Rates increase are “spread across” and is at most a few hundred dollar more per month for HDB purchases so I think cooling measures is a more effective in curbing purchases than interest rates…

fed. interest rate increase will have impact on housing loans in singapore?

or has the banks priced it in already?

will buyers hesitate to commit?

 

[ckling]

I feel that cooling measure has a bigger impact than interest rates. Cooling measures require the buyer to come out with a higher upfront down payment and they cannot borrow as much as they would like to.

So long people still has a job, impact of rates increase is not likely to impact people who buy within their mean. Rates increase are “spread across” and is at most a few hundred dollar more per month for HDB purchases so I think cooling measures is a more effective in curbing purchases than interest rates…

but rate increase will have impact on business and overall liquidity, let see the this two months anything happen...murphy's law

 

[ckling]

fed. interest rate increase will have impact on housing loans in singapore?

or has the banks priced it in already?

will buyers hesitate to commit?

interest already go up after end of QE.

 

[icekachang72]

Govt likely to increase the income ceiling this month to clear the over supply of BTOs and ECs. This will likely draw those buyers which are over qualified previously and after income ceiling increase can buy to clear those units. Sales of resale flats will potentially be affected. This is my guess.

 

[Verbatin]

might be small impact on resale mkt cos a lot of people cant wait 3-4 year for a BTO

Govt likely to increase the income ceiling this month to clear the over supply of BTOs and ECs. This will likely draw those buyers which are over qualified previously and after income ceiling increase can buy to clear those units. Sales of resale flats will potentially be affected. This is my guess.

 

[Meemoosaa]

I believe the new PR buying restriction is due in 2016. Will there be a surge of the new PR coming in to buy if and when the restriction is lifted ?

 

[Petrelli_83]

I believe the new PR buying restriction is due in 2016. Will there be a surge of the new PR coming in to buy if and when the restriction is lifted ?

In my view, yes and no depending on the results of the coming election. I'm sure you've noticed the pragmatic and populist nature of the ruling party: sudden fare cuts, preferential upgrading, increasing deviation away from the 6.9 million etc. This is politics so not to say this is unexpected. If this is an indication of things to come, a strong win for the ruling party will almost see the restriction eased in 2017-2018. Won't be an outright removal. Lifting the restriction in 2016 would have been too obvious.

there are also easier and more covert ways to circumvent the PR restriction. that is to hand out citizenship or rather, "encourage citizenship". Heard cases of the govt doling out citizenship to prcs to let them buy EC. The pent up demand is released by way of letting PRC buy through the citizenship channel instead.

Either way, u probably won't see a surge in number of buyers unless there is an outright removAl. which is unlikely.

 

[xiao_cai7]

I paid 12k COV, 4 room near AMK central.

 

[Verbatin]

How near (walking distance in how many min) to AMK MRT? if it is 5-6 min walking distance, 12K COV is worth it.

I paid 12k COV, 4 room near AMK central.

 

[cryptocraft]

80k cov. Commonwealth area. 3s HDB.

 

[icekachang72]

I have been actively looking around for 4/5 rooms (old ones built in the late 70s to early 80s) at AMK for the past 6 months. The price have fallen abit and observed from different property websites that those who priced their flat at super high price has eventually reduce to market transaction level before they are being sold off ...

 

[LWo_oWL]

New Aircon for Home

Please do not buy Aircon from Courts. Their installation workmanship is very bad. This pic is an installation from Courts at my friend home. My friend told me it is useless to complaint because Courts unable to control their installation team well. It seems like Courts face difficulties to find suitable workers to do this job.