New EC at Sumang Walk

[momoeagle]

just curious.

What are the chances of EC going to $800psf prices again?
And since there are a lot of chatters on lower price, will there be a chance of any ideal condo site (near MRT and mall) at $14xx psf prices again or can D3 condo prices go back to $15xx psf days?

Just want to know, to make a more informed decision.

This is my take. When STI was >3500, many probably thought we will never go back to the good old days when STI was lower.

Subsequently it dropped til <2000, with DBS <$10 and OCBC <$6, and many more.

Here's a chart for reference.

Those who bought at the 1995-1996 years due to fear that property prices will continue rising, were all in for a rude shock in a fast and furious dip.

Same for those bought in 2008, although it recovered fast, of which factors include that recession was primarily in USA and also we had a lot of foreigners coming in to SG between the year 2008 and the year 2011, and eventually reducing further after 2016 (the election years).

So never say never, for prices to be at least back to $900 psf.

Of course, I am no expert in property, and it could always be the case that "this time is different". I'm willing to bet on it though as there is no loss if I don't buy since I already have a roof. My money has elsewhere to move to anyway.

 

[momoeagle]

What about those who invest in Hyflux?
Perhaps I would prefer to be person A.
Likewise, for those who bought sycamore tree and laurel tree?
Then perhaps I would prefer to be person B.

Not everyone is 赌神 or 股神 lah.

I was caught in Hyflux perps. But well, it is a few percent of my overall portfolio. Diversification is the name of the game for incapable people like me to reduce risks.

 

[NiShiZhu]

That is why you don't put all your eggs in one basket.

I feel what we are seeing now is similar to 2013 so you all know where better to put your money in the meantime for those looking to buy for investment.

Yes, for that statement I concur.
I also felt the situation is similar to 2013.

From 2013 to 2017:
major price correction? No.
Slight price dip/flattish? Yes.

 

[NiShiZhu]

I was caught in Hyflux perps. But well, it is a few percent of my overall portfolio. Diversification is the name of the game for incapable people like me to reduce risks.

Sorry to hear that.
But Glad u spread your eggs.

 

[momoeagle]

Sorry to hear that.
But Glad u spread your eggs.

Thanks bro. No worries, the loss was easily covered by dividends and capital gains from other counters.

 

[annetyu]

Then could u enlighten me why u like the price of pearl bank?
Those who used to stay in pearl bank in a 1324sqft get 1.8 mil through enbloc sales now has to pay 2.7mil for a 1152sqft apartment. Not only smaller, but still need to take up a loan near 1mil.

Isn't pearl bank in CCR? $2,400psf is reasonable for a city centre location, 5 mins away from CBD. The wealthy won't want to have ordinary folks living in their luxury condo. Annetyu said before luxury and mass market condo is 2 different markets.

Enbloc beneficiary should not expect to get the same sized unit as before. The house they sold off only had 60~ years lease left. 40 years lease top-up for free? dream on! No doubt some mass-market enblocs got a really good deal though....

 

[NiShiZhu]

Isn't pearl bank in CCR? $2,400psf is reasonable for a city centre location, 5 mins away from CBD. The wealthy won't want to have ordinary folks living in their luxury condo. Annetyu said before luxury and mass market condo is 2 different markets.

Enbloc beneficiary should not expect to get the same sized unit as before. The house they sold off only had 60~ years lease left. 40 years lease top-up for free? dream on

Most pearl bank enbloc owners are in their late 60 plus to late 70 plus year old.
Does 60 years lease left matters to them more or taking up another 1mil loan matters to them more?
For a moment, you talk about how pathetic someone need to upgrade and have to squeeze in a smaller size apartment at a higher psf, now you said the other. I’m confused.

FYI, pearl bank is RCR, not CCR, don’t spread fake news.
Sorry, quoting your favourite line

 

[Braun8]

Won’t be removed at least for the next few years I think. I personally think that cm is a good move to stop ppl from thinking too much, thus maintain the stability.

Agree that CMs are good and should not be removed for next few years. I think the govt should increase ABSD for foreigners and entities and those buying third and subsequent properties.

The developers association is very eager for the reduction/removal of CMs because they currently have 37,800 unsold units, their unsold inventory have been escalating due to slow sales.

Chart of the Day: Unsold residential inventory hit 37,800 units in Q1 2019
https://sbr.com.sg/residential-prop...d-residential-inventory-hit-37800-units-in-q1

 

[momoeagle]

Agree that CMs are good and should not be removed for next few years. I think the govt should increase ABSD for foreigners and entities and those buying third and subsequent properties.

The developers association is very eager for the reduction/removal of CMs because they currently have 37,800 unsold units, their unsold inventory have been escalating due to slow sales.

Chart of the Day: Unsold residential inventory hit 37,800 units in Q1 2019
https://sbr.com.sg/residential-prop...d-residential-inventory-hit-37800-units-in-q1

Nice chart! Looks like historically when we hit around 40+k unsold units there will be a drop in price. It sorts of coincides.

 

[ynwa00]

From property guru news.

More parent are buying homes through their children to avoid ABSD..

 

[ahboy82]

End of the day for every winner...

There will b a whiner who whines abt the good old days

Only time will tell

So will u b the winner...

Or the whiner

 

[momoeagle]

From property guru news.

More parent are buying homes through their children to avoid ABSD..

Still not enough to absorb the market excess supply.

 

[Zze121]

Liquidity available for developers is huge, only limited by buyer risk appetite and financial to match their asking price. This pool of buyers is shrinking when HDB resale price started to pull away from PC price.

 

[Merg91]

The pool of almost millionaire hdb flat owners are probably at record high.
The potential buyers from the pool of the children of these older flat owners are always there.

 

[momoeagle]

The pool of almost millionaire hdb flat owners are probably at record high.
The potential buyers from the pool of the children of these older flat owners are always there.

Just a question. Do you have children?

 

[annetyu]

The pool of almost millionaire hdb flat owners are probably at record high.
The potential buyers from the pool of the children of these older flat owners are always there.

Aren't Hdb flat prices still declining? I thought you were expert on news and data!

Sometimes I wonder, when the millions of elderly pass on 10-20 years later, what will happen? Will there be a huge supply of houses released into the market when the inheritors try to offload the units?

 

[momoeagle]

End of the day for every winner...

There will b a whiner who whines abt the good old days

Only time will tell

So will u b the winner...

Or the whiner

想当年

I should have been more capable and worked harder.

 

[momoeagle]

Sometimes I wonder, when the millions of elderly pass on 10-20 years later, what will happen? Will there be a huge supply of houses released into the market when the inheritors try to offload the units?

Just need to increase population to increase the demand.

Wait, the rate of increase is slowing down

 

[annetyu]

Just need to increase population to increase the demand.

Wait, the rate of increase is slowing down

Stock market in for a crash today?

I exited some stocks ytd but went in on the banks. Hope the banks do well today....

 

[momoeagle]

Stock market in for a crash today?

I exited some stocks ytd but went in on the banks. Hope the banks do well today....

I longer term investor. Lazy to see everyday de.

Slowly loading kep corp each time it is down and wait for the long oil cycle to upturn.