Ridiculous HDB Prices

last SG · 2010-05-31T19:17:39+00:00

Wa, I read reports say resale prices will fall soon. They must be joking right? Don't scare me.

charlize SG

In 1 year's time they will be whimpering pok ah pok ah.

Nobody knows what will happen in 1 year's time.

Maybe the whole world suddenly huat like mad in 2012 and HDB 3 room valuation spikes up to $1 million dollars with $1 million COV.

Rooney9 SG

spore, hong kong and china property markets are sky high despite government measures to cool the markets. china government has raised interest rates a few times this year. our government started some cooling measures after the GE, but hey its late than nothing done at all.

if some bugger offers 700k to purchase your flat, cash in immediately, sell the flat, rent and wait for market to go down and then purchase it.

Rooney9 SG

its not wise to purchase high at this skyhigh property prices. so when the property market goes down by 20%, you are in negative equity for your property. for those waiting to purchase, hold on first and wait and see. when the property market crashes, thats where vultures go shopping for bargains.

charlize SG

if some bugger offers 700k to purchase your flat, cash in immediately, sell the flat, rent and wait for market to go down and then purchase it.

Property agents will tell you to wait nong nong.

So how?

Rooney9 SG

Nobody knows what will happen in 1 year's time.

Maybe the whole world suddenly huat like mad in 2012 and HDB 3 room valuation spikes up to $1 million dollars with $1 million COV.

you might as well buy private property with this kind of money.

Rooney9 SG

Property agents will tell you to wait nong nong.

So how?

property agents? you trust them? I will never trust them with my money, same with insurance agents.

Rooney9 SG

its pays to know about properties. you can earn $$ buying and selling properties on your intuition. if it is proven right, you can earn alot of money, but too bad if your intuition is wrong.

charlize SG

you might as well buy private property with this kind of money.

If 3 room is $1 million, private condo will be $5 million.

charlize SG

its pays to know about properties. you can earn $$ buying and selling properties on your intuition. if it is proven right, you can earn alot of money, but too bad if your intuition is wrong.

That's why I say, the situation now is that either you will be very rich or very poor soon.

Demon Bane SG

If 3 room is $1 million, private condo will be $5 million.

It won't happen lah....the most is 3rm HDB standard flats @ S$500k....

sgdiehard SG

How to burst?

People asking $100,000 COV now.

I just quote what Demon said.

Not sure if it is his wish or his prediction. Whatever it is, if you decide not to be involved, you won't benefit if prices go up, or lose if prices go down. But property agents still make money, because there will be buying and selling. and they don't make modest salary!

sgdiehard SG

Nobody knows what will happen in 1 year's time.

Maybe the whole world suddenly huat like mad in 2012 and HDB 3 room valuation spikes up to $1 million dollars with $1 million COV.

The US has not come out of its problem since the sub-prime, US properties are still going for a song, State of Minnesota shut down. If obama doesn't manage to raise the national debt ratio, more problem. Euro debts crisis now expanded from Greece to Spain to Italy.....It may not take a year for things to happen.

It is not likely that the whole world suddenly huat ah....but it is still likely that Singapore properties continue to hot ah, because all the money will come over to Asia.

sgdiehard SG

That's why I say, the situation now is that either you will be very rich or very poor soon.

If we are talking about buying and selling, even for investment, we are guilty of pushing up the prices, even for HDB!

If we talking about how smart we are selling high and buying low, and make a lot of $$$, whether we trust housing agents or not, we want to make money and they want to be richer, it will be at the expense of the poor first time buyers, the young couple who need just a roof to get married, both sellers and agents are equally guilty!

sgdiehard SG

It won't happen lah....the most is 3rm HDB standard flats @ S$500k....

some small private condos are already selling well over $2000 psf, how big is an HDB flat?

Demon Bane SG

Its not my prediction, I am hoping to buy a HDB but too expensive now, have to wait patiently for the prices to fall....

charlize SG

http://www.channelnewsasia.com/stories/singaporelocalnews/view/1142042/1/.html

"Resale flats are just too expensive, I can't afford it. A BTO flat is my only hope," said one Singapore resident."

Even Singapore resident says resale flats are too expensive.

angel7030 SG

Oh, then that will be a ridiculously rediculous HDB price.

a foreign friend visited me and asked me: how come yr resale govt flat is so expensive?

Angel: cos the govt say it is a free market, let the market force decide, they cannot intervene

foreign friend: then is should be private, not govt? govt should be able to intervene the prices, my country in Poland also control prices for govt houses, every resale have to go thru govt housing office to determine the right price and the capping of it. Seem like your govt is purposely allowing a free market on their flats.

Angel: I dunno, i live in private house, but I think you are right, the higher the resale prices, the more taxation like Gst govt can collect, but these are singaporeans problem, they are not a united lots, easy for their govt to exploit.

charlize SG

http://www.channelnewsasia.com/stories/singaporelocalnews/view/1142399/1/.html

3.1% rise for 2nd quarter.

charlize SG

http://www.temasekreview.com/2011/07/22/prices-and-covs-of-resale-flats-continue-to-rise/

charlize SG

As prices keep going higher and higher, I hear more HDB property owners scream huat ah huat ah.

Never mind if they cannot sell their hdb flats.

It makes them feel rich.

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