OLA EC @ Anchorvale

[skpuppy]

Property price did not drop 30% during SARS.
Property price has already been depressed ever since 1998 economy crisis.
It only starts to pick up in 2007.
It’s a Long winter period for property from 2000 to 2005.

https://www.propertysoul.com/2020/01/31/how-coronavirus-may-impact-properties/

Whether you believe property agent more or reality more

 

[SBC]

Who is main con at Ola?

 

[htngwilliam]

Ola is ok at $800psf. If you pay $1200, might as well get Compass height. The savings of 200psf spend on renovation. The amount of $$ can renovate like palace.

 

[1993newbie]

La Fiesta & The Luxurie are in $11xx-$12xx. Not too old project.

But some just prefer new unit..

Ola is ok at $800psf. If you pay $1200, might as well get Compass height. The savings of 200psf spend on renovation. The amount of $$ can renovate like palace.

 

[momoeagle]

If you are saying total 600k for a couple even for 2nd property, it is not alot also. Unless government do away with the absd and property price drop to 900psf like high park residence last time, then possible to buy a 1000sf unit without big commitment

Well, they are young and already staying in an EC.

The standard plan for highly paid civil servants couples is always to decouple from the EC once it becomes a condo, and buy a second one with no ABSD.

Their EC hasn't even MOP yet and probably left with a mere 300k loan. By the time they decouple, I'm sure their savings would have probably tripled.

And I'm saying there are many many of these kind of couples around in SG.

 

[momoeagle]

Agree that many have lots of savings, possibly including you.

However, must all of it be used for property? Does it mean as long as we have a few hundred k / millions in savings, property is not expensive?

I'm going to take some small 5 figures to start a new business that is related to the current one, possibly even replacing it in the future I hope

 

[momoeagle]

Holding excessive shares to the tune of more than 200k prior to this black swan event would likely mean that the individual have more than 30% of his holdings wiped out. But the same can’t be said for a property as yet.

Don’t see those holding property having 30% of value wiped out unless the quantum is high.

In short, property is likely more resilient in this situation. Of cos, holding cash is best if u are really risk averse.

I do hold a lot inside equities (yes >200k), but didn't really see 30% wipe out. Actually less. In fact, certain shares actually rose quite a bit, to the tune of 20% more actually. Of course, I won't deny that some shares dropped a fair bit. But 30% is a bit extreme I would say, unless one holds only the STI ETF.


Whereas properties. Yes, value may hold constant.
Try selling them now at that constant price. While still possible, the difficulty increases significantly.
Apart from that, properties tend to lag the economy by 6 months (whereas stocks tend to lead by 6 months). SG is more or less confirmed to have a recession this year.
That is probably a reason for the belief in the "resilience".

 

[skpuppy]

Well, they are young and already staying in an EC.

The standard plan for highly paid civil servants couples is always to decouple from the EC once it becomes a condo, and buy a second one with no ABSD.

Their EC hasn't even MOP yet and probably left with a mere 300k loan. By the time they decouple, I'm sure their savings would have probably tripled.

And I'm saying there are many many of these kind of couples around in SG.

When they buy EC, their pay should be around $14,000. Even if it double to $28,000. How much can they save? $15K a month? 3 years $600k? Can they meet TDSR if the price don’t drop or not?

 

[momoeagle]

When they buy EC, their pay should be around $14,000. Even if it double to $28,000. How much can they save? $15K a month? 3 years $600k? Can they meet TDSR if the price don’t drop or not?

I'm sorry, I don't really see how TDSR would really limit them after decoupling.

Care to share? Thanks.

 

[Frozen1234]

Talking about decoupling of ECs, what do you guys think are the pros and cons to decoupling and buy a second property, as opposed to sell the EC and buy 2 separate ones.

 

[Polar Bear King]

Talking about decoupling of ECs, what do you guys think are the pros and cons to decoupling and buy a second property, as opposed to sell the EC and buy 2 separate ones.

Too troublesome just sell it off buy 2 new condos if you want

 

[SethNg]

Talking about decoupling of ECs, what do you guys think are the pros and cons to decoupling and buy a second property, as opposed to sell the EC and buy 2 separate ones.

One major pro of decoupling is having the convenience of not selling/moving house while purchasing the next property without ABSD

Sell EC buy 2 will allow you to buy without ABSD as well, but there's the need to shift house

End of the day it depends on what are your needs in property. Some points to consider can be location & appreciation potential. Do you like your current EC's location(liking is subjective; some people feel that anywhere near parents is good), or will the next property's location suit you better? Also what's the estimated gain in the next X years for current EC as compared to the next property you're looking at?

Summary:
If current property got good growth potential and you like staying where you are, decouple
If Sell 1 Buy 2 will help you gain more and shift you to a better suited location, maybe it's worth the hassle

 

[ThinkCarefully]

https://m.youtube.com/watch?v=g0B2zkoRAGY

Buy, buy, buy now. Don’t wait according to the video.

 

[SBC]

Looks like price gap between new and secondary mkt will widen in the next few qtr.

 

[SBC]

Kopar had done so well. How many units are moved in May?

 

[SethNg]

Kopar had done so well. How many units are moved in May?

Not sure for May, 19units from the start of Circuit Breaker

 

[SBC]

Not sure for May, 19units from the start of Circuit Breaker

Thanks. Figures are higher than my own estimates.

 

[skpuppy]

https://m.youtube.com/watch?v=g0B2zkoRAGY

Buy, buy, buy now. Don’t wait according to the video.

This video is done in Mar. This shows that he know nuts about Covid19. Lol! Those ppl who knOws about Covid19 has released part of their business.

One end economists are worried this will be the worst recession. This guy say Singaporean financial power very strong. Lol! Let us see who is correct In 2021

 

[ThinkCarefully]

This video is done in Mar. This shows that he know nuts about Covid19. Lol! Those ppl who knOws about Covid19 has released part of their business.

One end economists are worried this will be the worst recession. This guy say Singaporean financial power very strong. Lol! Let us see who is correct In 2021

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A lot of videos online by agents of this same agency...

Very positive... say what lose job no worry, can find within x months and bs all the way....

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[1993newbie]

Watching Conjuring 2 on Channel 5...

Suddenly OLA ad in mandarin pop up...
Ohhhh OLA commercial back lo!