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Are there cheap and good condos for sale now?

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Post by ksl » Mon, 31 Mar 2008 8:58 am

CarBaby wrote:
unemployed man wrote: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.
I have posted this 23-Jan-2008, here is my view

Singapore property downturn has overlong lasting from 1997 until 2007 then pick up in about 30%. for those people who are interested in long term investment in property, better buy now since the market has slow down a bit before it is too late.. don't expect for fall 20% from the current level, that is history.... for district 9 Dhoby Ghaut MRT, river valley area.

all future near MRT condo are selling $1000 up (minimum) so dun't expect district 9 to come any closer to this range....

with the economy slowing down, investment in share market has taken a bitten, US interest rate cut of 0.75 percent to people will transfer their money investment to a save heaven which is property sector in singapore which has not been raisen so much as compare to those asian countries...about 30% for 2007....

singapore has attracted new investment and created another 8000 new jobs in the last quarter of 2007. more foreign are expected to come into singapore. Even more jobs creation when the casino start to operate, more foreigner will come into singapore....singapore infractstucture have improved since 1997 and the proper market has slowed down for about 10 years, year 2007 is the first year proper market pick up, it will not die down so soon..... mininum expect to grow for at least 5 - 10 years. as long as economy grow, property price will increase accordingly. Even with a higher inflation rate, property price will grow faster that means (economy + inflation) rate together....

anyone who handle building project know that the copper, sand, raw material has increase more than 200%, labour cost, land price has increased alot, a 30% jump in property price in auctual fact nett off all those cost, it is only an increase of less than 10%..

i am happy to say that the down turn in the US property market has created a non-bubble property market trend in singapore, a steady growth.....why i say so ? just imagine if the US economy is going to boom for any 2 more years......until 2009..... what happen to singapore property market ? 30% increase in 2007... 35% increase in 2008.... 40% increase in 2009..... this is a TRUE BUBBLE....
If you believe this you will believe anything, good luck!

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unemployed man
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Post by unemployed man » Mon, 31 Mar 2008 11:55 am

-jt- wrote:are there any studio type condo's in singapore? the broom closet type.

im really looking for a cheap condo to buy.

lets say the price is 550k. what would the initial cash out be? and what would be my avg monthly mortgage payments? if lets say its a 30 year loan?

what are the terms here in singapore for condo's? i understand for hdb its 10 percent down. and you can use your cpf to pay for the down and the monthly can i do the "cpf" thing for a condo?
Based on what i am looking at, which is good buys, i would give you a tip.

Aquarius by the park, there is some 2-bd units going for $5XXK. Super cheap considering the new launch waterfront is going at 30% n more compared.

There is definately going to be price appreciation.

If not, you can look at jurong. Like the ECs as what was dicussed by another previous post.

But my bet has always been for the eastside. Rich foreigners are pouring the money in the east. Check out the number of foreigners residing in the east compared to the west. It is a no brainer.

By the way, can we have more examples of good buys?

unemployed man
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Joined: Fri, 15 Feb 2008 9:57 pm

Post by unemployed man » Sat, 05 Apr 2008 11:29 pm

Any good choices in pasir ris or tampanies areas?

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Joined: Sat, 21 Jul 2007 3:56 am

Post by remersonh » Sun, 06 Apr 2008 12:54 am

Very interesting. I'd love to see the robust economic argument explaining how the US real estate market influences the SINGAPORE real estate market. Most US economists don't really believe that the NY real estate market influences the CALIFORNIA real estate market, let alone any international markets. Why? Because you can't very well pick real estate up and move it to where a different set of buyers are.

There are certainly factors in the current US economic situation (like the credit market and liquidity problems) that influence a lot of global markets, possibly including real estate markets, but the chains of up and down movements become so convoluted that you can guarantee that anyone's explanation of the movements is pure speculation rather than fact ... or even good theory.

My point? Markets are risky. If everyone knew today what the market was going to do tomorrow, then the price today would be the same as the price tomorrow. Prices fluctuate precisely BECAUSE no one knows what is going to happen tomorrow.

Best of luck!

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