Another convert to property! :)

[mummy1234]

Every month I am able to save at least 70% of my income excluding all my housing loan repayments.

I bought my first house when I was 27 years old, I am not married yet.

With a high savings rate and young age, with luck and proper financial planning....you should do fine....just learn more about value investing and DCA ETF investing, and keep some cash as backup funds...

I am also learning myself how to manage my money better...

Anyway, back to the topic, maybe we should have a poll on how many think property will rise by 2030 when we have 6.9 mil? Vs property prices falling as maybe 6.9 mil will not happen?

 

[OngHuatHuat]

Doubt will do dca etf.
i prefer buy keep occasionally average down or just buy sell buy sell.

With a high savings rate and young age, with luck and proper financial planning....you should do fine....just learn more about value investing and DCA ETF investing, and keep some cash as backup funds...

 

[henrylbh]

Only the JB property is fully paid up but we have cash and CPF to pay up the MM unit so only the Terrace has a loan...

We can alternatively choose to pay up our terrace by selling the other 2 properties...then also can rent out the terrace and rent in Malaysia for retirement...

MM unit has loan of 60% stretched to max loan tenure. CPF OA used to pay for mortgage and there is positive cash flow as quite easy to rent out so far cause in CCR , near MRT and good food and near Geylang though address is a more respectable Sims Ave.

Misleading post which gave impression that only terrace has a loan.

 

[mummy1234]

Misleading post which gave impression that only terrace has a loan.

Sorry if I was not clear, what I meant was we have the ability to pay off the MM unit loan now such that only terrace has a loan...but we r not doing that....

 

[OngHuatHuat]

Sorry if I was not clear, what I meant was we have the ability to pay off the MM unit loan now such that only terrace has a loan...but we r not doing that....

hey mummy how much was your purchase price for this MM unit?

 

[SBC]

Private residence market at a glance:
1. Price index drops 0.4% from Q2 to Q1 to 140.0. Q1 drops was 0.6%
2. Rental index drops 0.6% to 106.9% for the same period.
3. Developer sales up 59% to 2256 units.
4. Pipeline supply drops 11.7% to 47,250 units
5. Vacancy rate up 1.4% to 8.9%.

Zuap is today ST. 11 consecutive Qtr price drops.

 

[mummy1234]

hey mummy how much was your purchase price for this MM unit?

slightly over S$600k...

 

[mummy1234]

Private residence market at a glance:
1. Price index drops 0.4% from Q2 to Q1 to 140.0. Q1 drops was 0.6%
2. Rental index drops 0.6% to 106.9% for the same period.
3. Developer sales up 59% to 2256 units.
4. Pipeline supply drops 11.7% to 47,250 units
5. Vacancy rate up 1.4% to 8.9%.

Zuap is today ST. 11 consecutive Qtr price drops.

Wow , vacancy rate shoots up, probably from the OCR MM units I think, cause I heard it is difficult to rent out those...

 

[OngHuatHuat]

Some asking price din really drop at all. Some
Even shot up. I think more fire sales are done at less desirable locations and hence translated into a decrease.

Private residence market at a glance:
1. Price index drops 0.4% from Q2 to Q1 to 140.0. Q1 drops was 0.6%
2. Rental index drops 0.6% to 106.9% for the same period.
3. Developer sales up 59% to 2256 units.
4. Pipeline supply drops 11.7% to 47,250 units
5. Vacancy rate up 1.4% to 8.9%.

Zuap is today ST. 11 consecutive Qtr price drops.

 

[OngHuatHuat]

I was thinking of getting some old and good geylang condos for rental purpose.
But the huge absd put me off.

slightly over S$600k...

 

[neanea]

slightly over S$600k...

1 room condo? At which area?

 

[wira]

If we liquidate all 3 properties and buy a BTO, can then have excess cash to reinvest for proper passive income. Dunno if that is a good idea.

Another idea he has is for us to liquidate and buy separately 2 properties fully paid. Then can live in one and rent out one. Maybe 2 Private condos.

Not sure if it's good idea to sell all properties unless you are very good at investing To get good returns for passive income.

 

[henrylbh]

Some asking price din really drop at all. Some
Even shot up. I think more fire sales are done at less desirable locations and hence translated into a decrease.

Why must say some when most are down. Isn't that obvious.

 

[OngHuatHuat]

I believe those owners who can hold the price still not decreasing their asking price and transactions are based on owners who are more desperate. Furthermore, transacted volume should be quite low to represent overall picture.

If you chose to believe those data, definitely not a problem for me.

Why must say some when most are down. Isn't that obvious.

 

[neanea]

What is mm unit?

 

[Sinkie]

I believe those owners who can hold the price still not decreasing their asking price and transactions are based on owners who are more desperate. Furthermore, transacted volume should be quite low to represent overall picture.

If you chose to believe those data, definitely not a problem for me.

This is one of the methods used by property agent. Some listing don't even exist or probably are already sold. They are just "reusing" these listing to boast the price of that AREA they are selling. The higher they sell the more Comm they get. My agent even managed to neg to slash 250k off the listing price of a d10 ppty for me..

 

[OngHuatHuat]

Most of the seller agents prefer lower price actually, means they purposely lower the price for the units to attract calls, this is what we call fishing and lower price means easier to sell in current market.

Some agents will purposely persuade the owners to accept a lower price so that the deal
Can go through.

D10 is considered quite a heavily affected area during this downturn. Sentosa is the most heavily affected area.

New subsale with huge build up and asking price easier to slash.
If the unit is 600 k, perhaps very hard to
Slash already.

This is one of the methods used by property agent. Some listing don't even exist or probably are already sold. They are just "reusing" these listing to boast the price of that AREA they are selling. The higher they sell the more Comm they get. My agent even managed to neg to slash 250k off the listing price of a d10 ppty for me..

 

[OngHuatHuat]

I think the key here is boast sales, not boast price. Higher than usual asking price means lesser calls means die in current market.

This is one of the methods used by property agent. Some listing don't even exist or probably are already sold. They are just "reusing" these listing to boast the price of that AREA they are selling. The higher they sell the more Comm they get. My agent even managed to neg to slash 250k off the listing price of a d10 ppty for me..

 

[Sinkie]

I think the key here is boast sales, not boast price. Higher than usual asking price means lesser calls means die in current market.

No, more like are the property agents trying to maintain the higher price so that they can continue to flip to the foreigners

 

[OngHuatHuat]

I thought foreigners market already all dead due to 15 % absd.
The transaction volume is so low and transactions volume involving foreigners is even lower, if they earn their commission through foreigners sales, very likely register zero sales?

No, more like are the property agents trying to maintain the higher price so that they can continue to flip to the foreigners