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Well, well... new mortgage rules = fuxored market?

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offshoreoildude
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Postby offshoreoildude » Sun, 07 Oct 2012 2:54 pm

There is nowhere you can put significant amounts of money in Singapore except property. I expect to see small syndicates and other ways of gaming the system come in.
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x9200
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Postby x9200 » Sun, 07 Oct 2012 3:32 pm

zzm9980 wrote:
x9200 wrote:By kill you mean no buyers or different type of the buyers?


I have no stats, just my assumptions, and those are that the dominate market for that range of condos (as described above) will be priced out of the market. All of the new developments in Ulu ulu (Pungol, Choa chu kang, etc) will be hit the hardest, and we'll see prices really fall there.


But this market segment is pretty small (i.e. there are only few condos in CCK) and if true what you said (HDB upgraders etc) it is currently overloaded by the potential buyers. Prices will probably slightly drop but the main change I expect will be in the buyers structure towards people buying to live there rather than invest. 1.2m/25y gives 3k3 a month matching roughly the current rental.

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JR8
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Postby JR8 » Sun, 07 Oct 2012 8:33 pm

zzm9980 wrote: ... and whatever you call people from Liechtenstein) :P



Liechees.

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nutnut
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Postby nutnut » Sun, 07 Oct 2012 9:46 pm

Surely if the buyers are pushed out of the markets, then the prices will have to drop fairly drastically? Developers won't stop developing, just maybe not selling at such a large price!?
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offshoreoildude
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Postby offshoreoildude » Mon, 08 Oct 2012 9:48 am

nutnut wrote:Surely if the buyers are pushed out of the markets, then the prices will have to drop fairly drastically? Developers won't stop developing, just maybe not selling at such a large price!?


I guess if a crash starts.... it begins with people selling.
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Postby nutnut » Mon, 08 Oct 2012 1:09 pm

That's right, and from my experience, developers fair pretty good in a crash market, as they can generally afford to sell at a lesser rate or buy your old property from you etc. Thus providing more options!

I know that in my home country, developers were offering to pay the 10 or 20% of the property price you bought from them so in some cases and as such people were buying at 80% price and not worrying about paying the deposit for their mortgage. It was a win win as the developers were in the best position in the market to do this and their houses were selling very easily, however, as a buyer you would be unable to sell your property as you cannot compete with the price and deals.

I can't see that happening here though.
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skipper
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Postby skipper » Mon, 08 Oct 2012 3:56 pm

zzm9980 wrote:
revhappy wrote:This is OT, but Punggol is not anywhere as Ulu as CCK. Both Punggol and Sengkang are hot favorites among Indian expats and others. East is the most happening suburb now :cool:


Well then, given MOM's actions towards Indian expats I double-down on my theory. :cool: They're also a dying breed.


Too many new/upcoming developments in Punggol/Sengkang and there won't be enough Indian expats/PR's (even subject to quota) and all others to buy them. These will be among the first to get hit. You might want to read about the how many properties here have been returned after the launches (forfeiting the 1%).

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Postby offshoreoildude » Tue, 09 Oct 2012 8:40 pm

skipper wrote:
zzm9980 wrote:
revhappy wrote:This is OT, but Punggol is not anywhere as Ulu as CCK. Both Punggol and Sengkang are hot favorites among Indian expats and others. East is the most happening suburb now :cool:


Well then, given MOM's actions towards Indian expats I double-down on my theory. :cool: They're also a dying breed.


Too many new/upcoming developments in Punggol/Sengkang and there won't be enough Indian expats/PR's (even subject to quota) and all others to buy them. These will be among the first to get hit. You might want to read about the how many properties here have been returned after the launches (forfeiting the 1%).


Now there's an idea for the PAP; racial quotes for condos! I once asked my ex wife (Singapore minority race) why her minority race community didn't band together and build condos together so they could recreate the kampung spirit they all harp on about. There was no answer.
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