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Are there cheap and good condos for sale now?

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unemployed man
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Are there cheap and good condos for sale now?

Postby unemployed man » Wed, 20 Feb 2008 12:37 am

Been looking around for the perfect buy since Dec 07, even with uncertainty in the US of A the prices in singapore are still not really going down. Quite certain right now that if we still wait till the dusts settle, the bull will start rolling again.

Heard that there are still cherries in the Older condos within the east coast area. Any advise for me? Anybody? I would really appreciate it.
By the way, agents, please don't leave your numbers here, i am just needing some tips.

Thanks a million. :D

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Postby keepitreal » Wed, 20 Feb 2008 2:52 pm

what do you mean by cherries in the old condos?

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Postby unemployed man » Thu, 21 Feb 2008 10:02 pm

Good buys within the completed condos around.

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Postby Asian_Geekette » Fri, 22 Feb 2008 2:33 pm

Cheap condos in Singapore??? Hmmm... Is there such a thing here? :roll:

Good luck with your search. Let us know if you get a cheap condo unit.
My business is not to remake myself, but make the absolute best out of what God made. -Robert Browning

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Postby sundaymorningstaple » Fri, 22 Feb 2008 3:21 pm

For that matter let us know if you find any type of lodging that is cheap! Some are less expensive but still not "cheap". :wink:

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Re: Are there cheap and good condos for sale now?

Postby KOTW » Sat, 01 Mar 2008 4:34 pm

unemployed man wrote:Been looking around for the perfect buy since Dec 07, even with uncertainty in the US of A the prices in singapore are still not really going down. Quite certain right now that if we still wait till the dusts settle, the bull will start rolling again.

Heard that there are still cherries in the Older condos within the east coast area. Any advise for me? Anybody? I would really appreciate it.
By the way, agents, please don't leave your numbers here, i am just needing some tips.

Thanks a million. :D


Economics 101: Chapter One: Page 1: The Law of Supply and Demand: paragraph one: In the long run, where there is a continuous oversupply of a product or service, there will eventually be a downward adjustment in price which will lead to a balance of supply and demand.

The current condo market is providing an over-abundance of supply, and prices are mis-alligned with actual demand. Be patient, as it is just a matter of time(6months-1.5years) before there is a significant reduction in price to address the oversupply issue.

Keep your gun powder dry...be fearful when everyone is greedy, and be greedy when everyone is fearful.

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Re: Are there cheap and good condos for sale now?

Postby ksl » Mon, 03 Mar 2008 1:42 am

KOTW wrote:
unemployed man wrote:Been looking around for the perfect buy since Dec 07, even with uncertainty in the US of A the prices in singapore are still not really going down. Quite certain right now that if we still wait till the dusts settle, the bull will start rolling again.

Heard that there are still cherries in the Older condos within the east coast area. Any advise for me? Anybody? I would really appreciate it.
By the way, agents, please don't leave your numbers here, i am just needing some tips.

Thanks a million. :D


Economics 101: Chapter One: Page 1: The Law of Supply and Demand: paragraph one: In the long run, where there is a continuous oversupply of a product or service, there will eventually be a downward adjustment in price which will lead to a balance of supply and demand.

The current condo market is providing an over-abundance of supply, and prices are mis-alligned with actual demand. Be patient, as it is just a matter of time(6months-1.5years) before there is a significant reduction in price to address the oversupply issue.

Keep your gun powder dry...be fearful when everyone is greedy, and be greedy when everyone is fearful.


I hope you take this opportunity, to make note of your errors! Don't believe everything you read in books! And what is significant to you, is not significant to others.

So the values must drop, below market value to be significant, and that I don't see happening, what is happening, is the population is increasing, and the wheels are turning, in a cycle of wealth creation, meaning peoples incomes will rise too, the materialistic urge to upgrade and make profit on their older dwellngs, is already implanted in Singaporeans, to make a silly move, let them learn, that everything is not that rosey.

They are much better off in HDB, than buying private condos, although that is easier said than done, everyone must have their moment of joy and sadness...Condo's I have seen, are roughly like the chicken huts in UK, sadly not worth the price.

But I say, keep buying and upgrading, its looking great where i am. :)

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Postby Guowei58 » Mon, 03 Mar 2008 5:38 am

a lot of supplies in the market, even now, before all of the new constructions come on line.

upside is limited, while downside is quite apparent. buying is not a good idea in the near-term.

Think about it this way - maybe the market will resume its pricing appreciation, but to what level? RE is already pricy, and there's a global RE correction going on - Singapore will follow this global pricing correction.

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Postby unemployed man » Wed, 05 Mar 2008 12:05 am

For the east side, been looking around the bedok area, the prices of the condominiums around the reservoir are still quite ok.

My pakistani friend recently bought a place at the aquarius for 800K for a resonably large 3-bed. He told me it has a good view of the reservoir and because of the new project coming up, the prices have growth potential.

For me i am not well versed in that area, but the prices are still ok. Maybe i should get an agent down with me to take a look. Anyone familiar with this aquarius condominium?

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Postby ksl » Wed, 05 Mar 2008 2:33 am

Many property speculators that purchased 2 or 3 units, are feeling the pinch, they was hoping to unload at a nice profit, and of course this has not happend, so there will be some bargains available.

Only research will turn up a very good deal, the reaosn is these properties cost money to keep, so some speculators will find it difficult financially to hold on to more than one unit, and they may need to unload, what they cannot afford, to pay for what they have.

Yes you can get a good deal, if you know, what you are doing. There are also the first time buyers, that are wanting to move up, if they have lived in the property a significant number of years...they will have made a nice profit, without being to greedy, and will just want to move on, as quickly as possible, buying another, before the old one is sold, would normally take a bridging loan, so these are also good to deal with, if you can allow, them to stay put, until, they have rehoused.

They may also want price to drop a little too, so working together may well pay off. Agents want closure asp...so i wouldn't bother with one, unless he does it the way you want it, It would be much more beneficial to work with someone selling, but needs time to find what they want, before moving out.

So you may want to have an advert in the local paper offering that service, to get a good deal, they could continue paying rent, until they found something to move into, if you purchased from them.

We were very lucky and allowed the sellers to pay rent, until they could move out, we got an excellent discount! It's also not easy for some to move, if they have emotional attachments to the place.

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Postby keepitreal » Wed, 05 Mar 2008 6:39 pm

You will also find that many locals who own a private condo are now moving out and into their HDB's so they can get more income from the rental yield. I have seen quite a few on my development.

The interesting thing is though that I have noticed three units in my block that have been empty now for the last 3 months. A while ago you would see them empty for a shorter period and I guess this is also happening elsewhere. People have mortgages to pay and eventually they will have to accept offers considerably lower than their asking price.

There is also a new 500 unit condo due to open across the road from me so it will be interesting too see the occupancy rate on this in 3 months time as they are asking for silly money.

The population may be increasing, but how many will actually be able to afford private dwellings in these current conditions. Not all of these people coming in are high earners either, a lot will be in the services industry in low paid jobs as well. At the same time, many expats with leases expiring are getting a large shock with up to and above 100% increases. A lot of these people will either pay it, move to a HDB or leave. Those expats within my circle are already booking their flights home.

The MM here currently talks about a brain drain problem in Singapore, he'll have an even bigger one in a few years at this rate.

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Postby unemployed man » Thu, 06 Mar 2008 11:59 pm

You guys are quite negative but conservative. At least you wouldn't lose any money in this market. For me, i am hunting around for bargains cause i wouldn't want to start fighting for good buys when the sky clears.

I understand the basis of property that what goes up must come down. Problem is, i will stay here for quite sometime so renting is not really good for me. Plus, my jobscope is IR related and i seriously see the potential of what will become of this red dot.

I am in fact looking around the east coast region for a year already, especially near marina bay. I have seen the prices of a 2bd unit of the sail go from 900k to 2.5mil. Now the same type of unit is still around 2-2.3mil. Still waiting, but how low can it go? I'd rather go look somewhere else. It least somewhere i can afford.

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Postby jpatokal » Tue, 18 Mar 2008 2:29 am

It's official, the market is really starting to slow down now:

http://www.reuters.com/article/rbssFina ... 2620080317

Singapore homes sales in February almost halved from the previous month, and could slump this quarter to the lowest since the SARS epidemic in 2003 as surging inflation and global economic fears keep buyers at bay.

The government on Monday said 170 private homes were sold in February, less than a tenth of the homes sold last August when Singapore was still in the midst of a two-year property upswing.


It remains to be seen when rental prices will follow, but I'm already seeing some condos go for under S$2500 in the Classifieds -- that's only twice what I paid when I first moved here :-#
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Postby chixchix » Wed, 19 Mar 2008 12:24 pm

If you are looking for a condo for sale ..
how many rooms do you need ?
Location ??Seems a bit cheaper in the West.


Like for me I am looking for a condo in the West only. 3+1 as I have a big family.I liked one,..Floravale..near NTU.lowest monthly maintenance..i find the prices alright too.from$ 520k onwards.
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Postby ksl » Wed, 19 Mar 2008 12:41 pm

chixchix wrote:If you are looking for a condo for sale ..
how many rooms do you need ?
Location ??Seems a bit cheaper in the West.


Like for me I am looking for a condo in the West only. 3+1 as I have a big family.I liked one,..Floravale..near NTU.lowest monthly maintenance..i find the prices alright too.from$ 520k onwards.

How many sq foot is that? The sq ft price?


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