What are your outlooks on the housing prices?

eagle SG

Points to note:
1) Housing prices have been continuously rising over the past few months
2) Recession is expected around 08/09. Economic theory states that economic recessions and booms occur in a periodic cycle, and the period of such a cycle is estimated to be about 10 years. Last recession 1997/98. The recession before was in late 1980s. And the previous recession in Western economies was in 1970s.

Although a NUS study has shown that there is no such property bubble, http://blog.hotvictory.com/2007/10/19/no-bubble-in-singapore-property-market-nus-study/

is it still possible for the housing prices to cool down, or even become cheaper, within the next few years?

charlize SG

It's ok. Apparently some people think Singapore is immune to recessions.

The IR will produce tons and tons of jobs with good pay for Singapore residents when it is up and running.

But oops, where are all the tourists when the global recession hits? Laughing

fishbuff SG

i dont anticipate the price to drop. comparing the upcoming size of SG future population of 7million versus the available houses in SG, it is nearly impossible for the house prices to revert back.

HK's housings are alot more expensive than SG, usually 2x more.. a meer $400k will only get u a small apt like a 4room flat. and i do forsee the prices of 4room hdb flat to climb to S$400k soon.

genie99 SG

Isnt the gahment trying to prevent that by making new flats affordable?

will4 SG

Is it true HK flat is smaller than Spore HDB flat in term of space?

Ferguson SG

buy more then sell later

will4 SG

I think to buy now will be risky cause if US economy went into recession this
year, there is a possibility Spore economy will be affected as it is dependent

on US.

Ferguson SG

SG property will not lose money

will4 SG

I agreed but if we buy now on any HDB flat or other properties, the price might be too high so better wait for the economy to slow, then housing

prices drop, can immdiately buy at a cheaper price.

googoomuck SG

I've heard from Hongkongers that the width of some living rooms is such that one can lean against the wall and use his foot to tune the tv placed against the opposite side of the wall. Of course this is a jok. Yes, it's smaller but....

....all land in Hong Kong is owned by the government and leased to private users. By restricting the sale of land leases, the Hong Kong government keeps the price of land at what some would say are artificially high prices and this allows the government to support public spending with a low tax rate.

The government also involves in public works projects and extensive social welfare spending.

kilua SG

I think you should qualify the statement. Singaporeans generally own leases not real property.Legally, they are just tenants. If you purchase a resale HDB with 70 year lease, be prepared to see your property decline in value when you retire. Besides, there is no sure win investment.

will4 SG

Houses in Japan also quite small cause when I went to Japan n stayed in
Ryokan, it seemed the place is quite compact compared to a 4 room HDB

flat.

Ferguson SG

not HDB.

private property free hold

de_middle SG

if ur $$$ rich, property would be a good investment but definately not now though Neutral

T.Ryousuke SG

Who r the 1 buying? Newly wed? Down grader? PR?

Some say base on share price?...Some say FT/PR r buying. The demand is there but only in city area, rest of the town r moving slowly.

Those price claim by agent r just buIIshlt. This 2 yrs the price will shoot sky high and after that it will drop, Singaporean start to feel the cost coming from the interest. In true, not many ppl can make $$ useless they brought their flat way b4 1994.

weiqimun SG

still, your sttment is doesn't hold water. i have known and read ppl still smarting from their purchases prior to the financial meltdown and suffer big time after going into the property mkt.

had a fren who, 7-8 yrs ago, upgrade to a pte condo and held on to his hudc for a year b4 he sold his flat. big mistake. the value of his hudc dropped from $500k to $350k in 12 months. after repaying the gahmen for the housing loans under cpf, his cpf savings was wiped out.

and his condo, it still cannot command the same price he paid for if he were to sell today.

was laid off 3 yrs ago due to redundancy, (yes, he's 40+). after huffing and puffing for the last 36months, was told he landed a same level paying job in 2008. Great rebounding. wonder how many 40something can work the same magic he did.

if lady luck go agst u, u can eat dust for meals!

Ferguson SG

not loan. use cash.
can still rent out if market bad
good then sell

play_n_play SG

try to understand who is buying that super-expensive house? i do not think most of locals can afford... Embarassed

eagle SG

What do you mean by super-expensive house? I'm referring to housing prices in general, including HDBs, terraces, Semi-Ds... Of course not many can afford houses like those in Camden Park.

En bloc sales include Tulip Gardens, Farrer Court, Westwood apartments, Riverwalk Apartments, etc, each with 2~3 million for their houses. That is about 1000 families or more who need to buy new houses, and 1000 families or more with about 2 million to buy a new house you know?