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Post by oldman on Jan 30, 2015 15:38:37 GMT 7
Singapore's housing decline seen continuing as defaults rise - 27 Jan 2015 Banks auctioned 118 repossessed homes last year, about 10 times the number in 2013, said Mok Sze Sze, head of Singapore auctions at broker Jones Lang LaSalle.
“Some of the properties in the auction are those where the owner has multiple properties and he can’t rent them,” said Grace Ng, deputy managing director at broker Colliers International in Singapore. “If the government measures are not relaxed or removed we could see more sales” by homeowners who are in default.
“There are no bargains available yet,” Zou said. “For now, I’ll wait and watch the market.”
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Post by zuolun on Feb 9, 2015 16:25:07 GMT 7
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Post by sptl123 on Feb 9, 2015 16:53:01 GMT 7
同人 不同命 , one falla selling property in sentosa clove and tooke a loss of S$ 3.5 million few months ago. The TDSR is super- hyper- ultra powerful last time I can pay 10% and one short buy three house . Now I need to pay 80% down payment and only can loan 20%. For a 2 million property one have to tie down 1.6 million with the bank and unlikely to get any capital gain in the near future. With levies, ABSD and SSD; these days very hard to make money from property liao.
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Post by oldman on Feb 10, 2015 4:39:21 GMT 7
Good cover story in The Edge Singapore Feb 9, 2015: Luxury Market melting down?
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Post by zuolun on Feb 10, 2015 5:35:07 GMT 7
同人 不同命 , one falla selling property in sentosa clove and tooke a loss of S$ 3.5 million few months ago. The TDSR is super- hyper- ultra powerful last time I can pay 10% and one short buy three house . Now I need to pay 80% down payment and only can loan 20%. For a 2 million property one have to tie down 1.6 million with the bank and unlikely to get any capital gain in the near future. With levies, ABSD and SSD; these days very hard to make money from property liao. The warning signs were announced publicly in early-Jan 2013, it's the catalyst for the latest HDB RPI chart with a mushroom head. More property cooling measures announced ~ 11 Jan 2013
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Post by sptl123 on Feb 10, 2015 8:32:06 GMT 7
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Post by zuolun on Feb 11, 2015 8:10:23 GMT 7
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Post by sptl123 on Feb 11, 2015 13:09:23 GMT 7
Excellent Bro Zuolun ! Didn't know you are also expert in property . HDB upgrader got stuck, when they get their key to new private home, their HDB price has come down. It will be very difficult to rent out the new property when the vacancy rate is going to be 20% soon. Then because of SIBOR, the monthly installment also gone up. When they want to sell, they have to pay SSD. Very jilat, left or right also wrong...
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Post by zuolun on Feb 11, 2015 13:27:50 GMT 7
Excellent Bro Zuolun ! Didn't know you are also expert in property . HDB upgrader got stuck, when they get their key to new private home, their HDB price has come down. It will be very difficult to rent out the new property when the vacancy rate is going to be 20% soon. Then because of SIBOR, the monthly installment also gone up. When they want to sell, they have to pay SSD. Very jilat, left or right also wrong... sptl123, My ex-TA lecturer purchased a resale HDB 4-RM flat on the open market in AMK @ S$180,000+ during SARS in 2003 — based on the HDB RPI chart. HDB RPI is the primary foundation of the Singapore property market; while URA PPI is the secondary foundation. Both indexes' steep correction (resale / secondary sales prices on the open market) will have a major and significant -ve impact on the future new home prices. In end-2013, one forumer in a public forum was so excited to announce that he had just become the proud owner of a S$3 million private property. I believe that fella was one of the late-comers who jumped on the Singapore private property bandwagon without knowing the warning signs were already announced publicly in early-2013 (watch video clip dated 11 Jan 2013). "Life is a gamble, at terrible odds — if it was a bet, you wouldn't take it." - Tom Stoppard人生如棋,落子无悔,一招不慎,满盘皆输。
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Post by chlio on Feb 11, 2015 16:31:39 GMT 7
Excellent Bro Zuolun ! Didn't know you are also expert in property . HDB upgrader got stuck, when they get their key to new private home, their HDB price has come down. It will be very difficult to rent out the new property when the vacancy rate is going to be 20% soon. Then because of SIBOR, the monthly installment also gone up. When they want to sell, they have to pay SSD. Very jilat, left or right also wrong... sptl123, My ex-TA lecturer purchased a resale HDB 4-RM flat on the open market in AMK @ S$180,000+ during SARS in 2003 — based on the HDB RPI chart. HDB RPI is the primary foundation of the Singapore property market; while URA PPI is the secondary foundation. Both indexes' steep correction (resale / secondary sales prices on the open market) will have a major and significant -ve impact on the future new home prices. In end-2013, one forumer in a public forum was so excited to announce that he had just become the proud owner of a S$3 million private property. I believe that fella was one of the late-comers who jumped on the Singapore private property bandwagon without knowing the warning signs were already announced publicly in early-2013 (watch video clip dated 11 Jan 2013). "Life is a gamble, at terrible odds — if it was a bet, you wouldn't take it." - Tom Stoppard人生如棋,落子无悔,一招不慎,满盘皆输。 I am sure for most of us in this forum are here to look for the inefficiencies of the market, any market, in order to take advantage of the opportunities when they appear. SARS, or any events that would cause a panic to those who have been caught by the circumstances which in turn will force their hands to fold or to cut losses, are what we are all waiting for. Is it now the eleventh hour on oldman's investment clock already?
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Post by zuolun on Feb 13, 2015 16:04:23 GMT 7
Excellent Bro Zuolun ! Didn't know you are also expert in property . HDB upgrader got stuck, when they get their key to new private home, their HDB price has come down. It will be very difficult to rent out the new property when the vacancy rate is going to be 20% soon. Then because of SIBOR, the monthly installment also gone up. When they want to sell, they have to pay SSD. Very jilat, left or right also wrong... The impact of rising interest rates on the residential market ~ 1 Feb 2015
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Post by sptl123 on Feb 13, 2015 16:46:12 GMT 7
Bro Zuolun, This lady from Colliers give face to the property market . The actual situation is much worse. My friend's Terrace and another friend's condo, put up for rental , for many months, many viewing but no one make any offer. My agent friend also complaint; last time one view two view can close but now view view still no offer. I put up my tenanted property for sales for 2 months liao, only a few viewing and only one offer so far and the offer price is crazy .
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Post by zuolun on Feb 17, 2015 22:52:26 GMT 7
This small policy change could help you decide on property investments in 2015 ~ 17 Feb 2015 ABSD was introduced as a tax that would not affect 1st time buyers who were Singapore Citizens, but aimed its barrels at investors looking to purchase their 2nd or 3rd properties. Making it more expensive for them to do so, turned out to be very effective – property prices have come off up to 6%. With the ABSD, this was what potential buyers faced:
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Post by oldman on Feb 19, 2015 5:19:57 GMT 7
A High-End Property Collapse in Singapore - 17 Feb 2015 But signs of a slowdown are just beneath the shiny surface. The grass on front lawns has turned brown from neglect. Two condominiums last summer went for less than half their original price, while others sit empty.
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Post by oldman on Feb 24, 2015 20:08:34 GMT 7
Heard that an investor lost around $1.2 mil for buying and selling this 99 year leasehold property within 3 months ..... this includes a seller stamp duty of 16% on market value as it is sold within a year ( 16% of $3.6 mil = $576,000 ). Difference between selling and buying price = $650,000. Added together, it is around $1.2 mil. Am actually surprised at the sale price as the property appears to be very close to the Japanese cemetery.
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