Which Direction Will Property Prices Go ?

[发哨子2020]

How likely a freshie like Hola who will start a cushy job soon .....but almost blank CPF / no salary history/ no IRAS record / barely enough cash for down payment and yet the bank is willing to approve a $500k or $1million home loan ?

Just because she (he?) promises to pay the monthly bank loan from the tenant rental ?

 

[noobkia]

Maybe got zai parents who can be guarantors/ show fund.

How likely a freshie like Hola who will start a cushy job soon .....but almost blank CPF / no salary history/ no IRAS record / barely enough cash for down payment and yet the bank is willing to approve a $500k or $1million home loan ?

Just because she (he?) promises to pay the monthly bank loan from the tenant rental ?

 

[holasingapura]

Why u worry? People rushed in to buy with the condo fully paid. U dont know that its fully paid off.

People got money to burn. U dont have. Do us a favour. Please go upgrade yourself. Dont come here and make a fool of yourself. Its a joke to tell others these people made mistake to buy houses when you cant even afford the installment. what a cheap shot. Btw statistics dont lie. Only daft like you will go against the trend. People like you will surely stay poor.

You are the one making a fool of yourself. I said nothing of what you mentioned. From what you have posted, it is obvious who needs an "upgrade".

Not going to say more, lest you feel more inferior and rebut with more nonsense.

 

[holasingapura]

How likely a freshie like Hola who will start a cushy job soon .....but almost blank CPF / no salary history/ no IRAS record / barely enough cash for down payment and yet the bank is willing to approve a $500k or $1million home loan ?

Just because she (he?) promises to pay the monthly bank loan from the tenant rental ?

I won't be so bold to say that i can sure get a 800+k loan as I am still newbie. But my calculations is based on a normal $4.5k salary plus $2.0k rental income (already marked down). If I am getting a stable job in a large company, what more does the bank need to see? How many months of salary history? 6 months? I can wait.

I don't even need to rental income to pay the loans, it is simply to fulfil the TDSR requirements.

In the event I can only take a smaller loan, I can easily borrow $ from relatives. Also, if I buy together with my would-be wife, it would definitely not be a problem.

 

[Asphodeli]

Honestly the best way to stop all these crazy speculations is to impose a law that cap gains from selling properties must go into CPF. We really got so many good paying jobs and many savers in SG meh?

Sent from Xiaomi MI 9 LITE using GAGT

 

[lockks]

You are the one making a fool of yourself. I said nothing of what you mentioned. From what you have posted, it is obvious who needs an "upgrade".

Not going to say more, lest you feel more inferior and rebut with more nonsense.

Why should i feel inferior? U lose an argument , u got no guts and no balls to buy. And top it all, u got no money to burn. Just **** off from this forum. You are so incapable.

 

[lockks]

I won't be so bold to say that i can sure get a 800+k loan as I am still newbie. But my calculations is based on a normal $4.5k salary plus $2.0k rental income (already marked down). If I am getting a stable job in a large company, what more does the bank need to see? How many months of salary history? 6 months? I can wait.

I don't even need to rental income to pay the loans, it is simply to fulfil the TDSR requirements.

In the event I can only take a smaller loan, I can easily borrow $ from relatives. Also, if I buy together with my would-be wife, it would definitely not be a problem.

U seriously cmi. Still need to borrow money and depend on yr wife.
Please lar, no money dont buy property.

 

[NiShiZhu]

Honestly the best way to stop all these crazy speculations is to impose a law that cap gains from selling properties must go into CPF. We really got so many good paying jobs and many savers in SG meh?

Sent from Xiaomi MI 9 LITE using GAGT

Ya, even winnings from stocks or any other forms of speculation/investment should also go into cpf

 

[holasingapura]

Why should i feel inferior? U lose an argument , u got no guts and no balls to buy. And top it all, u got no money to burn. Just **** off from this forum. You are so incapable.

I've seen how you've bashed others in this forum who do not share the same exact opinion as you. So I won't be bothered more with you anymore.

All can see what sort of person you are, and can tell which segment of society you belong to. Good luck in life. Cheers.

 

[bujingyun82]

Some anecdotes of why Singaporeans are buying properties for various reasons. Quite a few are buying for investments too.

https://www.todayonline.com/singapo...fm0OicRjfmL03Voct4tsFhFIx7KgKKhPOBIXOD4BAdO5E

 

[holasingapura]

U seriously cmi. Still need to borrow money and depend on yr wife.
Please lar, no money dont buy property.

Someone says everyone who buys property together with spouse cannot make it. Looks like hundreds of thousand of Singaporean men who own property with wife "cmi" and should "no money dont buy property" - according to rich sinkie lockks.

 

[Passerboy]

Some anecdotes of why Singaporeans are buying properties for various reasons. Quite a few are buying for investments too.

https://www.todayonline.com/singapo...fm0OicRjfmL03Voct4tsFhFIx7KgKKhPOBIXOD4BAdO5E

Timely article to share, few pertinent points noted:
- the buying crowd is getting younger
- ppl see property as an alternate investment vehicle to stocks given the volatile in the stock market
- ppl feel that prices would continue to rise given the resilience in prices during uncertain times
- right location and price

 

[Falafell]

Timely article to share, few pertinent points noted:
- the buying crowd is getting younger
- ppl see property as an alternate investment vehicle to stocks given the volatile in the stock market
- ppl feel that prices would continue to rise given the resilience in prices during uncertain times
- right location and price

Thanks for the summary bro

 

[Passerboy]

Thanks for the summary bro

No prob just some food for thought, if prices remain resilient in present times of uncertainty with multiple rounds of CM, and the perceived glut in supply, what would prices be moving forward 3 - 5 years later?

 

[NiShiZhu]

Some anecdotes of why Singaporeans are buying properties for various reasons. Quite a few are buying for investments too.

https://www.todayonline.com/singapo...fm0OicRjfmL03Voct4tsFhFIx7KgKKhPOBIXOD4BAdO5E

Err...cannot be mah, the article csb Boh?
some edmwer experts says dunno what debt moratorium, many may end up can’t pay mortgage by Dec when JSS ends and by 2021, property expect to crash 40%-50%.
How come JSS coming to an end soon but still so many young buyers afford to clear the TDSR bar and afford the down payment and buy property?

 

[noobkia]

U are really quite naive. Banks ask you to submit income tax for the last 2 years as well as 12 months cpf contribution when you apply for mortgage loan. If u are in a job for less than a year they will ask u what’s ur previous job and how much u earned in ur previous job as well. So I can assure u, 6 months is not going to cut it. 6 months employment u gonna have a lot more luck with applying credit cards than mortgage loan.

I won't be so bold to say that i can sure get a 800+k loan as I am still newbie. But my calculations is based on a normal $4.5k salary plus $2.0k rental income (already marked down). If I am getting a stable job in a large company, what more does the bank need to see? How many months of salary history? 6 months? I can wait.

I don't even need to rental income to pay the loans, it is simply to fulfil the TDSR requirements.

In the event I can only take a smaller loan, I can easily borrow $ from relatives. Also, if I buy together with my would-be wife, it would definitely not be a problem.

 

[holasingapura]

U are really quite naive. Banks ask you to submit income tax for the last 2 years as well as 12 months cpf contribution when you apply for mortgage loan. If u are in a job for less than a year they will ask u what’s ur previous job and how much u earned in ur previous job as well. So I can assure u, 6 months is not going to cut it. 6 months employment u gonna have a lot more luck with applying credit cards than mortgage loan.

I thank you for your comments as I am truly a newbie. If I can't take a loan just after graduation, there is nothing I can do then. Just wait for another year? Not a big deal.

Anyway, these are the required documents from what I gathered from a bank website:
✔ Latest Notice of Assessment or 12 months CPF Contribution History
✔ Latest 3 months’ payslips (if you are working for less than 3 months, you may submit your latest payslip and employment contract)
✔ Latest 3 months’ salary crediting account statements (additional documents required for customers working overseas)

I will speak with the bank closer to the date. But I think there will be a way to get around it.

 

[holasingapura]

Err...cannot be mah, the article csb Boh?
some edmwer experts says dunno what debt moratorium, many may end up can’t pay mortgage by Dec when JSS ends and by 2021, property expect to crash 40%-50%.
How come JSS coming to an end soon but still so many young buyers afford to clear the TDSR bar and afford the down payment and buy property?

Too early to say. No one knows really. Such events don't happen regularly so its hard to predict. However, I see that the great PAP govt has extended JSS to March 2021 so chance of big crash is lower.

Property is and has always been affordable; Being expensive is another story.

 

[NiShiZhu]

Too early to say. No one knows really. Such events don't happen regularly so its hard to predict. However, I see that the great PAP govt has extended JSS to March 2021 so chance of big crash is lower.

Property is and has always been affordable; Being expensive is another story.

Some thoughts:
1) those in financial distress, Guess they won’t wait till now or March 2021 to dispose their property. They should have lelong their property a few months back and sell it cheap. But I still don’t quite see price crash or correction in resale either in the past few months.
2) JSS be it by end of this year Dec or extend to next year March honestly I don’t see much difference. Ok, never mind, I can give another year for edmwers to prove their prediction is right. One year still not enough? Ok, give them another two years also no problem.
3) at the rate clavon and linq is selling (esp linq at ridiculous psf), I see the possibility of new CM coming soon rather than pple not being able to pay their mortgage. In the first place, this recession is rather lopsided. And private property are only targetted to certain group of people who met the TDSR and credit criteria, unlike 2008/2009 or earlier, where any Tom dick Harry can easily buy a property and get loan approved easily.

 

[Passerboy]

Some thoughts:
1) those in financial distress, Guess they won’t wait till now or March 2021 to dispose their property. They should have lelong their property a few months back and sell it cheap. But I still don’t quite see price crash or correction in resale either.
2) JSS be it by end of this year Dec or extend to next year March honestly I don’t see much difference. Ok, never mind, I can give another year for edmwers to prove their prediction is right. One year still not enough? Ok, give them another two years also no problem.
3) at the rate clavon and linq is selling (esp linq at ridiculous psf), I see the possibility of new CM coming soon rather than pple not being able to pay their mortgage. In the first place, this recession is rather lopsided. And private property are only targetted to certain group of people who met the TDSR and credit criteria, unlike 2008/2009 or earlier, where any Tom dick Harry can easily buy a property and get loan approved easily.

The take up rate at Parc Central (EC) and Normaton Park (especially) in Jan 2021 would give us better clarity on the outlook. Normaton Park while hard hit by the news of it’s not sale order appears to ride on the positivity of the Greater Southern Waterfront.