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Old 11-04-2019, 11:44 PM   #571
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I had spent lots of time and much patience to hunt for the correct FH property and completed my decoupling successfully to skip the ABSD.

The result is rather sweetening. Managed to save the previous 7% ABSD.

Cannot really imagine guys willingness to pay 12% now.
no choice, 12% also must bite the bullet. i cant think of any other investment that will hedge against inflation when i retire (other than having kids maybe? but both my spouse and i decided not to go down this path). with a 2nd property, at least if inflation goes up like hell, one chicken rice $30, rental will also go up like $20k for a one bedder per month. if buy endowment plan, even if i pay a lot of premium now, 50 years later if only 2k payout per month, cannot even afford 3 chicken rice per day le.

and thinking about it, $30 per plate of chicken rice in 50 years time is probably being very optimistic..
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Old 11-04-2019, 11:58 PM   #572
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Trust me, CM won’t be lifted.
If this happens, all hell cfm breaks loose.
One purpose of CM is to protect buyers, especially those who borrow beyond their means. Imagine those who take up loans of tenure more than 30 years and extending beyond 65 years old, there is going to be a chance they will be unable to pay up if something unexpected happens.

Although US Fed has recently decided to pause any rate hikes, I am sure it will go up one day. And when this happens, those who over-borrow are going to suffer, and their properties will end up in auction house.

Thank the government, they are preventing a bubble or another subprime mortgage crisis. If not for the wake-up call last year... https://en.wikipedia.org/wiki/Real_estate_bubble
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Old 12-04-2019, 12:04 AM   #573
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Bro, I have a gut feel I will enter the market again looking at the future land bid price. But I need to wait for most mega project to clear first. It’s gonna be a long wait I Guess.
Now like déjà vu, I feel like I’m now in the 2013 cycle, the aftermath when TDSR and ABSD was implemented. (The tug of war era betw buyers and Developers)
It would become clearer in 9 to 18 months time because:

1) These new launches from higher land prices would be left with many unsold units e.g. Treasure still would have at least 1,500 units (my Guess) after one year (only sold about 200 units out of 22xx so far). You still have those in d19 and d13, plus many more.

2) those new land bid would start to launch. If the new plot at sims launch at 1,350 psf or below, it means market has not moved much (in fact fallen) and this Indicates that prices are on a clear down trend. If market is good and pick up, developers are smart enough to price for maximum profit.
For example, CDL admitted that they launched Whistler Grand at single digit margin (My guess is 7 to 9%) indicating that times are not so good and their bid was too euphoric . Else they would happily do 25 to 30% margin.
Treasure is launched at about 15% margin, which IMHO was not aggressive enough given 22xx units, but who knows they may do something later.
(Margin estimate : https://www.thetreasureattampines-official.com/price/)

3) macro economics, IMF says dark days ahead, so does our finance minister, so let the story unfold. ...
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Last edited by ThinkCarefully; 12-04-2019 at 03:16 AM..
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Old 12-04-2019, 12:30 AM   #574
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no choice, 12% also must bite the bullet. i cant think of any other investment that will hedge against inflation when i retire (other than having kids maybe? but both my spouse and i decided not to go down this path). with a 2nd property, at least if inflation goes up like hell, one chicken rice $30, rental will also go up like $20k for a one bedder per month. if buy endowment plan, even if i pay a lot of premium now, 50 years later if only 2k payout per month, cannot even afford 3 chicken rice per day le.

and thinking about it, $30 per plate of chicken rice in 50 years time is probably being very optimistic..
No kids now? Driver should not to have tax incentive.

I am having a few kids. Quite siong for family expenses!
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Old 12-04-2019, 03:21 AM   #575
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One purpose of CM is to protect buyers, especially those who borrow beyond their means. Imagine those who take up loans of tenure more than 30 years and extending beyond 65 years old, there is going to be a chance they will be unable to pay up if something unexpected happens.

Although US Fed has recently decided to pause any rate hikes, I am sure it will go up one day. And when this happens, those who over-borrow are going to suffer, and their properties will end up in auction house.

Thank the government, they are preventing a bubble or another subprime mortgage crisis. If not for the wake-up call last year... https://en.wikipedia.org/wiki/Real_estate_bubble
Yes,
let me help everyone to recall.
Those who bought during the 2003 to 2006 era know best, we have been paying between 3.5% to 4% interest rate. I remember most of my monthly payment goes into paying the interest rather than the principal amount.
Between 2009 to 2015, we are in the era of 1% plus interest rate, I quickly call up my bank to shorten my tenure and clear as much loan as possible.
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Old 12-04-2019, 03:27 AM   #576
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I had spent lots of time and much patience to hunt for the correct FH property and completed my decoupling successfully to skip the ABSD.

The result is rather sweetening. Managed to save the previous 7% ABSD.

Cannot really imagine guys willingness to pay 12% now.
Congrats bro! I also don’t believe in paying ABSD.
That’s y every time I chub a lot of pattern to avoid/minimise ABSD.
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Old 12-04-2019, 10:38 AM   #577
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Reflection lease starts at 2005/2006. TOP around 2011/2012.
It’s a near 14 year old condo.

It’s like coco palm, lease starts at 2008 though it just recently TOP. 10 year lease gone.
Can u say coco palm is a 1 year condo?

Ah, thanks for the correction. I thought you're referring to TOP year.
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Old 12-04-2019, 03:16 PM   #578
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Have you checked out Treasures? I heard it is the cheapest in the new launch market this year eh. Saw this that day thetreasureattampines-official.com
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Old 12-04-2019, 03:59 PM   #579
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One purpose of CM is to protect buyers, especially those who borrow beyond their means. Imagine those who take up loans of tenure more than 30 years and extending beyond 65 years old, there is going to be a chance they will be unable to pay up if something unexpected happens.

Although US Fed has recently decided to pause any rate hikes, I am sure it will go up one day. And when this happens, those who over-borrow are going to suffer, and their properties will end up in auction house.

Thank the government, they are preventing a bubble or another subprime mortgage crisis. If not for the wake-up call last year... https://en.wikipedia.org/wiki/Real_estate_bubble
I remembered reading a front page article of the local newspaper, can't remember was it in late 1990s or early 2000s.

A couple bought a condo for 600k+. There was an economic downturn and the price dropped to about 400k+. Bank asked them to cough up the difference. Of course they couldn't. Bank took their condo and they were saddled with a 200k debt and husband and wife have to slowly pay back the bank d 200k debt and at d same time no more condo...
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Old 12-04-2019, 04:01 PM   #580
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I want buy landed.
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Old 12-04-2019, 04:13 PM   #581
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A couple bought a condo for 600k+. There was an economic downturn and the price dropped to about 400k+. Bank asked them to cough up the difference. Of course they couldn't. Bank took their condo and they were saddled with a 200k debt and husband and wife have to slowly pay back the bank d 200k debt and at d same time no more condo...
Chin Or Sim...

Which bank was that?
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Old 12-04-2019, 04:25 PM   #582
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Chin Or Sim...

Which bank was that?
What is Chin or Sim? I dunno most of the short forms u guys use here.
I old timer liao.

But personally, I got burnt from OCBC. I swore off from getting loan from them.
N will tell my next generation don't get from them either.

Someone close that I know got burnt from Citibank.

Lesson learnt - support local banks.
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Old 12-04-2019, 04:45 PM   #583
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UNDER THE HAMMER: Duplex penthouse at D’Zire going for $1.28 mil http://www.newsloop.co/u/dwc1ig

Freehold penthouse selling cheap cheap in D19.
Was surprise the first owner don’t mind sell at slight loss.
Living and dinning area looks decent and spacious. Hmm...
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Last edited by NiShiZhu; 12-04-2019 at 04:50 PM..
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Old 12-04-2019, 05:02 PM   #584
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UNDER THE HAMMER: Duplex penthouse at D’Zire going for $1.28 mil http://www.newsloop.co/u/dwc1ig

Freehold penthouse selling cheap cheap in D19.
Was surprise the first owner don’t mind sell at slight loss.
Living and dinning area looks decent and spacious. Hmm...
$900 psf looks like a good buy! Those staying in Hougang should have a look see.
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Old 12-04-2019, 05:13 PM   #585
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$900 psf looks like a good buy! Those staying in Hougang should have a look see.
Unfortunately, it’s just a 2 bedder penthouse, should have a lot of open space like roof terrace, balconies. Thats y cheap cheap.
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