HWZ Forums

Login Register FAQ Mark Forums Read

New EC at Sumang Walk

Like Tree730Likes
Reply
 
LinkBack Thread Tools
Old 13-08-2019, 10:12 AM   #2011
Senior Member
 
Braun8's Avatar
 
Join Date: Mar 2012
Posts: 830
True. Quite a fair number of people are stretched like that.
Recession could be coming and the property cycle could be in a downtrend. Probably better to wait for the prices to fall in the recession, falling prices is already happening in the resale market.

More bad economic news today, PAP govt slashed their 2019 GDP forecast to 0.5%. This is the worst GDP performance since the 2009 recession. Bank economists are expecting a technical recession this year.


Singapore slashes annual GDP forecast to 0-1% amid ‘strong headwinds’

13 Aug 2019

SINGAPORE: With the economy likely to continue facing “strong headwinds” for the rest of 2019, Singapore has cut its expected growth for the year to between 0 to 1 per cent.

The Ministry of Trade and Industry (MTI) said on Tuesday (Aug 13) it expects annual gross domestic product (GDP) to come in “at around the mid-point of the forecast range”.

Read more at https://www.channelnewsasia.com/news...trong-11803990
Braun8 is offline   Reply With Quote
Old 13-08-2019, 10:21 AM   #2012
Senior Member
 
Join Date: Dec 2018
Posts: 2,387
Well, some here may believe the govt is going to do nothing & see the economy falters.....
The coolings can be easily reversed if needed.
Property sector affects many sectors, be it construction, owner spending etc etc.

Remember it would affect your job /hdb flat value.

One or two home owners may be forced to downgrade but most are not with already so many loan restrictions.
Most developers are cash rich too.

Last edited by Merg91; 13-08-2019 at 10:34 AM..
Merg91 is offline   Reply With Quote
Old 13-08-2019, 11:30 AM   #2013
Arch-Supremacy Member
 
twosix's Avatar
 
Join Date: Nov 2000
Posts: 10,295
my thought for now is to stay off huge investments like buying properties. the trade wars are creating chaos to the world. better let the dust settle first, and when is this is unknown.
twosix is offline   Reply With Quote
Old 13-08-2019, 11:41 AM   #2014
Member
 
Join Date: Jul 2018
Posts: 168
my thought for now is to stay off huge investments like buying properties. the trade wars are creating chaos to the world. better let the dust settle first, and when is this is unknown.
Ya, if u r holding a potentially 1.2 mil 4 rm just-MOPed HDB or 1.5 mil 5 rm just-MOPed HDB, these prices will hold till yr kids graduate, they will be thankful of the memories living in it till they getting their own.
8zaoyu is offline   Reply With Quote
Old 13-08-2019, 11:49 AM   #2015
Senior Member
 
Join Date: Nov 2007
Posts: 1,103
Recession could be coming and the property cycle could be in a downtrend. Probably better to wait for the prices to fall in the recession, falling prices is already happening in the resale market.

More bad economic news today, PAP govt slashed their 2019 GDP forecast to 0.5%. This is the worst GDP performance since the 2009 recession. Bank economists are expecting a technical recession this year.


Singapore slashes annual GDP forecast to 0-1% amid ‘strong headwinds’

13 Aug 2019

SINGAPORE: With the economy likely to continue facing “strong headwinds” for the rest of 2019, Singapore has cut its expected growth for the year to between 0 to 1 per cent.

The Ministry of Trade and Industry (MTI) said on Tuesday (Aug 13) it expects annual gross domestic product (GDP) to come in “at around the mid-point of the forecast range”.

Read more at https://www.channelnewsasia.com/news...trong-11803990
What could be worse, is stagflation.
momoeagle is offline   Reply With Quote
Old 13-08-2019, 11:54 AM   #2016
Senior Member
 
Join Date: Nov 2007
Posts: 1,103
Ya, if u r holding a potentially 1.2 mil 4 rm just-MOPed HDB or 1.5 mil 5 rm just-MOPed HDB, these prices will hold till yr kids graduate, they will be thankful of the memories living in it till they getting their own.
The "best" type of millionaire, own a million dollar property that keeps rising in price.

Can see can smell can touch.

Just... cannot buy food with it.

But hey! People are richhh! And some say that ah gong is not going to do nothing & see the economy falters.....! Can always reversed cooling measure easily if needed, and poof, our economy will bull run again! Property will always go up! 100%!
momoeagle is offline   Reply With Quote
Old 13-08-2019, 12:00 PM   #2017
Senior Member
 
Join Date: Dec 2018
Posts: 2,387
The price of ECs will never go back to the good old time if it falls.
Missed the earlier boat means that you simply have to pay more than the lucky 100 palms owners.

The wealth effect of the property ownership here is too strong for the govt to ignore if the fall is significant.
sgpropertyblog likes this.
Merg91 is offline   Reply With Quote
Old 13-08-2019, 12:32 PM   #2018
Senior Member
 
Join Date: Nov 2007
Posts: 1,103
The price of ECs will never go back to the good old time if it falls.
Missed the earlier boat means that you simply have to pay more than the lucky 100 palms owners.

The wealth effect of the property ownership here is too strong for the govt to ignore if the fall is significant.
yeah, you are the expert.

It will always go higher. Buy at 1.2k psf sumang sure can sell at 1.5k psf or even 2k psf

Huat ah
sgpropertyblog likes this.
momoeagle is offline   Reply With Quote
Old 13-08-2019, 12:37 PM   #2019
Senior Member
 
Join Date: Jul 2019
Posts: 1,090
Ya, if u r holding a potentially 1.2 mil 4 rm just-MOPed HDB or 1.5 mil 5 rm just-MOPed HDB, these prices will hold till yr kids graduate, they will be thankful of the memories living in it till they getting their own.
I don’t see 4 room HDB crossing the 1.2m mark being a norm, it is only the outlier, more so for 1.5mil (think record price is at 1.25m for the boonkeng CityView high floor unit?) If prices of HDB crosses 1.5mil, I would think 2 bedroom condo will see prices of 1.2m being the new norm even at OCR region.
Passerboy is offline   Reply With Quote
Old 13-08-2019, 01:24 PM   #2020
Senior Member
 
Join Date: Aug 2011
Posts: 2,349
Actually from the words of majority here, it seems Samsung ec is a bad buy. However, not sure why still have so many people buy. maybe those buyers are just cash rich and nothing else to buy. And probably they also does not have much foresight in the property market as well..
sgpropertyblog likes this.
birmingham123 is offline   Reply With Quote
Old 13-08-2019, 01:55 PM   #2021
Senior Member
 
Join Date: Jul 2019
Posts: 1,090
Actually from the words of majority here, it seems Samsung ec is a bad buy. However, not sure why still have so many people buy. maybe those buyers are just cash rich and nothing else to buy. And probably they also does not have much foresight in the property market as well..
I think it is because of the following factors-

1) those buyers want a new EC in Punggol District to be near parents or in laws and upcoming EC in 2020 are in tampines and Canberra which will also be priced in the same range of 11xx psf up
2) the buyers want a reputable developer (Sumang EC is by City Development)

There may be other factors present too, but I would think it is essentially these two factors.
sgpropertyblog likes this.
Passerboy is offline   Reply With Quote
Old 13-08-2019, 02:15 PM   #2022
Senior Member
 
Join Date: Dec 2018
Posts: 2,387
400-500 bought it but must be feeling sorry by now.
Not sure why some believe every couple would stretch to the limit with <$1.5 million property.
I am not surprised if many borrow max but keep the cash for stocks & reits /cpf with at least 2.5% yield.

Actually from the words of majority here, it seems Samsung ec is a bad buy. However, not sure why still have so many people buy. maybe those buyers are just cash rich and nothing else to buy. And probably they also does not have much foresight in the property market as well..
Merg91 is offline   Reply With Quote
Old 13-08-2019, 02:16 PM   #2023
Moderator
 
Join Date: Sep 2011
Posts: 27,590
Actually from the words of majority here, it seems Samsung ec is a bad buy. However, not sure why still have so many people buy. maybe those buyers are just cash rich and nothing else to buy. And probably they also does not have much foresight in the property market as well..
Some ppl buy for home stay, not for investment.
runforyourlife is offline   Reply With Quote
Old 13-08-2019, 03:48 PM   #2024
Senior Member
 
Join Date: Dec 2018
Posts: 2,387
Many get both : rental - free accommodation +
profit on resale.
A home is an asset.

Some ppl buy for home stay, not for investment.
sgpropertyblog likes this.
Merg91 is offline   Reply With Quote
Old 13-08-2019, 04:13 PM   #2025
Senior Member
 
Join Date: Nov 2007
Posts: 1,103
We can all tell Merg91 is the saddest one in this forum for whatever reasons. Just let him continue rattling on. Hopefully, this helps to relieve his grief, thats the best we can do for him.
True. Will do some charity for now then.
momoeagle is offline   Reply With Quote
Reply
Important Forum Advisory Note
This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Moderators are not employees or representatives of HWZ. Forum members and moderators are responsible for their own posts.

Please refer to our Terms of Service for more information.


Thread Tools

Posting Rules

Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are On