Are property prices real?

[zzm9980]

I hear that rentals are on the way down - has anyone else heard this or do we need a prophet to estimate the direction

I heard property prices are about to plummet in the next quarter.

[JR8]

I hear that rentals are on the way down - has anyone else heard this or do we need a prophet to estimate the direction

I heard property prices are about to plummet in the next quarter.

.... And what justifies either of these scenarios?

'I've heard' is not really very persuasive issit?

[sundaymorningstaple]

[zzm9980]

I hear that rentals are on the way down - has anyone else heard this or do we need a prophet to estimate the direction

I heard property prices are about to plummet in the next quarter.

.... And what justifies either of these scenarios?

'I've heard' is not really very persuasive issit?

That was me trolling. Sorry.

Source? The thread about "The Sail" on the angry forum, how about that

[JR8]

That was me trolling. Sorry.

Source? The thread about "The Sail" on the angry forum, how about that

Oh, that place!

[ABC2012]

We are looking out for property to buy and shocked by the prices too .... Property speculation is a huge tax on everyone, prices of food clothes & what have you are all inflated in price due to high rentals.

I don't see how the Singapore government is so all mighty as well to prevent a fall/crash in property prices.
When it happens it happens ....

[JR8]

We are looking out for property to buy and shocked by the prices too .... Property speculation is a huge tax on everyone, prices of food clothes & what have you are all inflated in price due to high rentals.

I don't see how the Singapore government is so all mighty as well to prevent a fall/crash in property prices.
When it happens it happens ....

Before buying own home:
It's so unfair
The government should do something
All I want is my own place that I can feel is really home
I hope it all crashes down so I can buy

After buying own home:
We paid just $400k for this place!
It was a fantastic deal.
Ha haha it's already gone up in value by $50k the seller must be kicking himself.
No I really don't see anything unfair in how the market works.

[Segue]

We are looking out for property to buy and shocked by the prices too .... Property speculation is a huge tax on everyone, prices of food clothes & what have you are all inflated in price due to high rentals.

I don't see how the Singapore government is so all mighty as well to prevent a fall/crash in property prices.
When it happens it happens ....

Before buying own home:
It's so unfair
The government should do something
All I want is my own place that I can feel is really home
I hope it all crashes down so I can buy

After buying own home:
We paid just $400k for this place!
It was a fantastic deal.
Ha haha it's already gone up in value by $50k the seller must be kicking himself.
No I really don't see anything unfair in how the market works.

LOL so true!

[movingtospore]

Well, there are hundreds upon hundreds of condos coming on the market, as well as HDBs. So we will see. It will be anecdotal as first as the powers that be probably won't acknowledge what's happening until a price decrease is already well underway.

There is a weird thing here - lots of wealthy foreigners buy property here as investment and are perfectly happy to leave it empty. So that skews the supply factor. But there are so very many units on the market now, who knows - that plus an economic downturn again in Asia could definitely have an impact.

[Segue]

Well, there are hundreds upon hundreds of condos coming on the market, as well as HDBs. So we will see. It will be anecdotal as first as the powers that be probably won't acknowledge what's happening until a price decrease is already well underway.

There is a weird thing here - lots of wealthy foreigners buy property here as investment and are perfectly happy to leave it empty. So that skews the supply factor. But there are so very many units on the market now, who knows - that plus an economic downturn again in Asia could definitely have an impact.

If you talk to the real estate people, the sales action is always for the new launches. As soon as a new launch is out, everyone lines up and its sold out in days.

What does not sell are resale units. If you want to sell a unit now, you are pretty much stuck with it. I've heard some stay on the market for one or two years and don't sell. The LL continues to hold on to their properties as there continues to be growing demand due to influx of foreigners.

However, as soon as the wave stops, and owners are hurting for liquidity, then the market will correct.

[Segue]

Just saw this today...I really do think a major market correction is coming within the next two years.


(URL CENSORED DUE TO COPYRIGHTS ISSUE)

[lan_libra]

I'm looking to settle in Singapore in the near future, as I'm engaged to be married to a Singaporean, but I can't help asking myself if the prices are real - both for rented and purchased properties alike.

I don't expect anyone's able to put any light on this question, so I apologise for writing it, but I'm wondering how the prices have been allowed to become the way that they are. Is it a case of profiteering? The construction costs of the building must surely be far less than the prices currently being asked.

Given that it seems to cost at least GBP 2m to buy a nice home with garden and a bit of space around it, I just can't understand how normal people are able to afford a home in Sg.

It also seems that the typical salary of normal Singaporeans just isn't enough to own their own home. How do they manage? Sorry, but I don't mean to ask irrelevant questions, but I'm struggling to reconcile the prices being asked.

Most Singaporeans don't live in a nice home with a garden and a bit of space around it, they live on government estates (otherwise known as HDB) and receive lots of subsidies to keep them happy so they'll continue to vote for the ruling PAP party (although it doesn't work, they still complain about everything despite being probably one of the most pampered nations of people on the planet)

I believe you are not a local and pardon me.If you are,you would not have spoken the way it is.Your answer of lots of subsidies are flawed as what was given to the pple will or shall be taken back by the garmen in other forms of taxes and increase of Service & Conservancy charges for a HDB Flat.Yet some like you may say pple might still vote for the ruling party,but the percentage is less and the ruling party stayed in power because of the thousands of new voters/new citizens whom majority made up of PRCs,Pinoys or Indian nationals whom voted them into Parliment.It is not that easy to apply for a house here even for a singaporean.Ask around thos pple on the streets,locals for the answers.Since HDB revamped their rules twist and turn so many things around making it worst than an Indian Rojak.

Yes it is not easy to settle down here..my views are Spore are run by Businessman and not Ministers.Whom cared only things that are benifical to them and their Pocket.We have the Highest Paid minister in the World to run this tiny Island n Highest Paid President for doing what?

The recent article of a HDB unit sold for 1M is absurd and really ridiculous am I right?It is totally different from the 80's n 90's.Some may get to buy a HDB flat but their CPF monies were wiped out to pay upfront for it.Myself was caught up with a loan till I am 55.I am moving out to JB to stay in a private property and renting my house here in SG.Its stuffy and stressful living in SG.like I have said,things are different from last time.With a population of 6Million and more to come,it will be worst.Most Sporeans have stayed accross the causeway.

I doubt there will be any changes for the better in SG since the Govt failed to listen and only interested to carry on with its failed policies.Probably if you have loads of money,to migrate and stay here is very easy.My views on those China PRCs whom are one of those pple paying higher COVs to buy a HDB flat making it cost million.Best is our minister defended with saying that an apartment is worth that much with a good view??What kind of wiew you get at Bishan HDB estate?Seaview?
Click here

[JayCee]

I'm looking to settle in Singapore in the near future, as I'm engaged to be married to a Singaporean, but I can't help asking myself if the prices are real - both for rented and purchased properties alike.

I don't expect anyone's able to put any light on this question, so I apologise for writing it, but I'm wondering how the prices have been allowed to become the way that they are. Is it a case of profiteering? The construction costs of the building must surely be far less than the prices currently being asked.

Given that it seems to cost at least GBP 2m to buy a nice home with garden and a bit of space around it, I just can't understand how normal people are able to afford a home in Sg.

It also seems that the typical salary of normal Singaporeans just isn't enough to own their own home. How do they manage? Sorry, but I don't mean to ask irrelevant questions, but I'm struggling to reconcile the prices being asked.

Most Singaporeans don't live in a nice home with a garden and a bit of space around it, they live on government estates (otherwise known as HDB) and receive lots of subsidies to keep them happy so they'll continue to vote for the ruling PAP party (although it doesn't work, they still complain about everything despite being probably one of the most pampered nations of people on the planet)

I believe you are not a local and pardon me.If you are,you would not have spoken the way it is.Your answer of lots of subsidies are flawed as what was given to the pple will or shall be taken back by the garmen in other forms of taxes and increase of Service & Conservancy charges for a HDB Flat.Yet some like you may say pple might still vote for the ruling party,but the percentage is less and the ruling party stayed in power because of the thousands of new voters/new citizens whom majority made up of PRCs,Pinoys or Indian nationals whom voted them into Parliment.It is not that easy to apply for a house here even for a singaporean.Ask around thos pple on the streets,locals for the answers.Since HDB revamped their rules twist and turn so many things around making it worst than an Indian Rojak.

Yes it is not easy to settle down here..my views are Singapore are run by Businessman and not Ministers.Whom cared only things that are benifical to them and their Pocket.We have the Highest Paid minister in the World to run this tiny Island n Highest Paid President for doing what?

The recent article of a HDB unit sold for 1M is absurd and really ridiculous am I right?It is totally different from the 80's n 90's.Some may get to buy a HDB flat but their CPF monies were wiped out to pay upfront for it.Myself was caught up with a loan till I am 55.I am moving out to JB to stay in a private property and renting my house here in SG.Its stuffy and stressful living in SG.like I have said,things are different from last time.With a population of 6Million and more to come,it will be worst.Most Sporeans have stayed accross the causeway.

I doubt there will be any changes for the better in SG since the Govt failed to listen and only interested to carry on with its failed policies.Probably if you have loads of money,to migrate and stay here is very easy.My views on those China PRCs whom are one of those pple paying higher COVs to buy a HDB flat making it cost million.Best is our minister defended with saying that an apartment is worth that much with a good view??What kind of wiew you get at Bishan HDB estate?Seaview?
Click here

Whine, whine, whine.

You just proved my point.

I'm sure you'll be happy to rent out your HDB at an inflated price whilst you live in Malaysia though, thus contributing to the rising cost of living, do you see the irony in that at all?

[sundaymorningstaple]

I'm looking to settle in Singapore in the near future, as I'm engaged to be married to a Singaporean, but I can't help asking myself if the prices are real - both for rented and purchased properties alike.

I don't expect anyone's able to put any light on this question, so I apologise for writing it, but I'm wondering how the prices have been allowed to become the way that they are. Is it a case of profiteering? The construction costs of the building must surely be far less than the prices currently being asked.

Given that it seems to cost at least GBP 2m to buy a nice home with garden and a bit of space around it, I just can't understand how normal people are able to afford a home in Sg.

It also seems that the typical salary of normal Singaporeans just isn't enough to own their own home. How do they manage? Sorry, but I don't mean to ask irrelevant questions, but I'm struggling to reconcile the prices being asked.

Most Singaporeans don't live in a nice home with a garden and a bit of space around it, they live on government estates (otherwise known as HDB) and receive lots of subsidies to keep them happy so they'll continue to vote for the ruling PAP party (although it doesn't work, they still complain about everything despite being probably one of the most pampered nations of people on the planet)

I believe you are not a local and pardon me.If you are,you would not have spoken the way it is.Your answer of lots of subsidies are flawed as what was given to the pple will or shall be taken back by the garmen in other forms of taxes and increase of Service & Conservancy charges for a HDB Flat.Yet some like you may say pple might still vote for the ruling party,but the percentage is less and the ruling party stayed in power because of the thousands of new voters/new citizens whom majority made up of PRCs,Pinoys or Indian nationals whom voted them into Parliment.It is not that easy to apply for a house here even for a singaporean.Ask around thos pple on the streets,locals for the answers.Since HDB revamped their rules twist and turn so many things around making it worst than an Indian Rojak.

Yes it is not easy to settle down here..my views are Singapore are run by Businessman and not Ministers.Whom cared only things that are benifical to them and their Pocket.We have the Highest Paid minister in the World to run this tiny Island n Highest Paid President for doing what?

The recent article of a HDB unit sold for 1M is absurd and really ridiculous am I right?It is totally different from the 80's n 90's.Some may get to buy a HDB flat but their CPF monies were wiped out to pay upfront for it.Myself was caught up with a loan till I am 55.I am moving out to JB to stay in a private property and renting my house here in SG.Its stuffy and stressful living in SG.like I have said,things are different from last time.With a population of 6Million and more to come,it will be worst.Most Sporeans have stayed accross the causeway.

I doubt there will be any changes for the better in SG since the Govt failed to listen and only interested to carry on with its failed policies.Probably if you have loads of money,to migrate and stay here is very easy.My views on those China PRCs whom are one of those pple paying higher COVs to buy a HDB flat making it cost million.Best is our minister defended with saying that an apartment is worth that much with a good view??What kind of wiew you get at Bishan HDB estate?Seaview?
Click here

In addition to your whine, whine, whine, You will also be breaking the law if you own two properties. Poor guy, paying on a mortgage till you are 55. Most Mortgages in the US are 30 year mortgages as well AND with 6 or 7% interest rates (not the 2.61% you get from the CPF board), WITHOUT the various subsidies you get as a 1st or 2nd time buyer. As far as Service & Conservancy charges are concerned, be thankful you don't live in a condo then, as lot's of Singaporeans do, as the conservancy charges more than double that of HDB charges. Oh, I know my whole family voted for the PAP and they were ALL born here and our GRC still lost. Yes, it IS easy to settle down here. 1M for an HDB flat? So? Who held off for that kind of money? A Singaporean owner. If Singaporeans weren't so greedy (Just like you - you are going to buy property in Malaysia, so obviously you aren't doing too bad) they would sell only to other Singaporeans at less money, right? You really need to pull you head out of the very dark place where the sun never shines, as you really don't have a clue as to what you are talking about. Oh, the population is 5 million, not 6.

[the lynx]

I believe you are not a local and pardon me.If you are,you would not have spoken the way it is.Your answer of lots of subsidies are flawed as what was given to the pple will or shall be taken back by the garmen in other forms of taxes and increase of Service & Conservancy charges for a HDB Flat.Yet some like you may say pple might still vote for the ruling party,but the percentage is less and the ruling party stayed in power because of the thousands of new voters/new citizens whom majority made up of PRCs,Pinoys or Indian nationals whom voted them into Parliment.It is not that easy to apply for a house here even for a singaporean.Ask around thos pple on the streets,locals for the answers.Since HDB revamped their rules twist and turn so many things around making it worst than an Indian Rojak.

Yes it is not easy to settle down here..my views are Singapore are run by Businessman and not Ministers.Whom cared only things that are benifical to them and their Pocket.We have the Highest Paid minister in the World to run this tiny Island n Highest Paid President for doing what?

The recent article of a HDB unit sold for 1M is absurd and really ridiculous am I right?It is totally different from the 80's n 90's.Some may get to buy a HDB flat but their CPF monies were wiped out to pay upfront for it.Myself was caught up with a loan till I am 55.I am moving out to JB to stay in a private property and renting my house here in SG.Its stuffy and stressful living in SG.like I have said,things are different from last time.With a population of 6Million and more to come,it will be worst.Most Sporeans have stayed accross the causeway.

I doubt there will be any changes for the better in SG since the Govt failed to listen and only interested to carry on with its failed policies.Probably if you have loads of money,to migrate and stay here is very easy.My views on those China PRCs whom are one of those pple paying higher COVs to buy a HDB flat making it cost million.Best is our minister defended with saying that an apartment is worth that much with a good view??What kind of wiew you get at Bishan HDB estate?Seaview?
Click here

Two words: Circular logic!