Which Direction Will Property Prices Go ?

[Falafell]

It's long overdue for authorities to cramp down on these.

I remember 1.5 years ago I attended one such workshop by a couple (husband and wife) who proclaim they can and help students to own many properties without much cash.

It's exactly what is described below and many attendees who attended can be silly enough to believe them and pay $3-4K for their 2 days workshop. I walked out from their free seminar as I feel that if so many students give me $3-4K each, of course, I can also easily own a few properties.

But many believed it, as they played the fear factor and also they know Singaporeans OT the most in the world. Who does not want to sit and shake legs while collecting passive income?

Many are screwed right now, as their commercial or industrial units cannot be effectively rented out during this COVID situation.

They sold their HDBs to fund this, and now 100% screwed.

The other types are property agents who would tell you to sell your current fully paid HDBs and use that to buy 2 condos. They happily earn commissions from 2 transactions.

Next up would be for the govt to clamp down on those seminars “ If you give me 30 sec, I will show you how I made a million dollars in a single month..”

 

[The_Davis]

Even regular property agents at showflats are cunning enough to spread FEAR among buyers. There are many ways to do it. Parents also almost got conned into signing when the agent at showflat pulled out the list of recent crazy developer land bids. It will only go higher she said

Recent years really up up and away for new launch. So she's not really lying

 

[momoeagle]

Condos are not so bad, as come near to the end of lease, say left with 20 years, you have 2 options:

a) One is to push for en-bloc to private developers
b) If en-bloc is not possible, you can apply to top up the 99 years lease.

Either option allows you to preserve value comes closer to 99 years lease.

For HDB, you do not such an option as technically speaking, you don't own the strata - HDB is your landlord and you just prepaid your 99 years lease.

You cannot push for en-block nor you can top-up your lease even you and your neighbours are prepared to do so.

Give another 20-30 years. Developers will be spoilt for choice which ones they want to en bloc. It's their choice and not the condo owners.

Unless ah gong no longer do GLS for condos.

 

[holasingapura]

Recent years really up up and away for new launch. So she's not really lying

I agree that agents hardly lie. The courses that MAS are cramming down on, do not lie too. What is wrong is that they misuse the facts to instil FEAR among newbie buyers. It's hard to explain, the best is you experiencing one yourself.

 

[momoeagle]

It's long overdue for authorities to cramp down on these.

I remember 1.5 years ago I attended one such workshop by a couple (husband and wife) who proclaim they can and help students to own many properties without much cash.

It's exactly what is described below and many attendees who attended can be silly enough to believe them and pay $3-4K for their 2 days workshop. I walked out from their free seminar as I feel that if so many students give me $3-4K each, of course, I can also easily own a few properties.

But many believed it, as they played the fear factor and also they know Singaporeans OT the most in the world. Who does not want to sit and shake legs while collecting passive income?

Many are screwed right now, as their commercial or industrial units cannot be effectively rented out during this COVID situation.

They sold their HDBs to fund this, and now 100% screwed.

The other types are property agents who would tell you to sell your current fully paid HDBs and use that to buy 2 condos. They happily earn commissions from 2 transactions.

The husband and wife team that keeps saying life need not be so hard?

 

[momoeagle]

I agree that agents hardly lie. The courses that MAS are cramming down on, do not lie too. What is wrong is that they misuse the facts to instil FEAR among newbie buyers. It's hard to explain, the best is you experiencing one yourself.

They didn't lie. Last few years psf went up. Developers bid higher also.

But the agent that told me developers have no choice but to price higher, so we have no choice but to buy higher too. I still don't see why "no choice".

 

[wetdreamx]

They didn't lie. Last few years psf went up. Developers bid higher also.

But the agent that told me developers have no choice but to price higher, so we have no choice but to buy higher too. I still don't see why "no choice".

Because all developers wanna win the bid, bid won then pass the cost to buyers.

Song bo?!

 

[SBC]

Stock mkt has been up recently.

Pent up demand in the last 2 months in 2020.

 

[Aaaa07]

So back to the thread qns.. Which direction will the property prices go? Haha

 

[leeerwin]

Up up up up up and up. Sg ppl very rich ! Willing to pay

 

[Polar Bear King]

So back to the thread qns.. Which direction will the property prices go? Haha

Everything goes up
But shun-poon goes up much faster than the rest
Spiral inflation makes everyone poor

 

[bolster]

Agent ask you to buy, you buy lor. Must help agent earn commission. Need $ to survive.

If no one buy, Developers go bankrupt. Must help them to huat.

Developers huat, then more Foreign rich Developers will come to huat. Then en bloc sure huat.

It is a vicious cycle. The big winner, Government collecting tax.

 

[1993newbie]

October sees more resale transacted as compared to new launch.

 

[spcs2020]

October sees more resale transacted as compared to new launch.

Yes, resale prices are better now, as new launches prices are very overpriced now due to overpriced land bids developers had during the 2018 en-bloc craze.

Now new launches can be like 60% premium over existing ones which are not more than 10 yo.

 

[daheigou999]

October sees more resale transacted as compared to new launch.

Maybe the agents are cashing out on the new launch commission to buy resale units for themselves

 

[1993newbie]

Condo Resale Prices Up 0.8%, Volume Up 21.6% in October 2020

> Month-on-month, overall prices increase by 0.8% over September 2020.
> CCR, RCR and OCR prices increase by 0.5%, 1.0% and 0.8% in October 2020.
> Year-on-year, overall prices increase by 0.7% over October 2019.
> In terms of regions, year-on-year, RCR and OCR prices increase by 0.9% and 1.9% respectively while CCR prices decrease by 2.9%.

https://www.srx.com.sg/research/602...Vh_JqZ5_IGTEfRwrQI7H2D21ewLBFizvMgnaxy0layQ7U

 

[daheigou999]

https://www.theedgesingapore.com/views/property/holding-keys-property-kingdom

Blue Team FTW

“Salespersons on the ground are extremely critical in selling new launches in today’s market. They are part of the whole ecosystem that determines the success of a launch.”

 

[momoeagle]

Yes, resale prices are better now, as new launches prices are very overpriced now due to overpriced land bids developers had during the 2018 en-bloc craze.

Now new launches can be like 60% premium over existing ones which are not more than 10 yo.

Developers had "no choice"

 

[holasingapura]

8% commission? Pay so much to those useless agents for what? If someone is really keen, he would walk into the showflat himself. And there goes.. the developer just wasted $160,000 for an agent who did nothing. Just place a full page ad in ST or some financial magazines!

As experts have mentioned - There is oversupply of agents. They will auto work hard to get deals. 2% is enough to get them moving!

Actually, won't giving 8% discount move sales much faster?? Stupid developers? Or are they trying hard to prop up prices so that rich sinkies will continue buying their other overpriced launches?

 

[holasingapura]

Actually, won't giving 8% discount move sales much faster?? Stupid developers? Or are they trying hard to prop up prices so that rich sinkies will continue buying their other overpriced launches?

Another reason for the latter is that, with the overpriced launches, the developers can also "overprice" their property assets on the books. Overprice NAV, overprice share prices, shareholders/ directors also over-huat. Good! Who loses?