Discussion : Singapore Property

[terrenceterrence]

At least s'poreans are allowed to use part of their CPF to purchase property. Meaning we have to borrow alot more compared to you guys .

we're int he same boat lar bro.... i'm not a singaporean too.

when i first bought my place i only have 5 percent cash and use my credit card for the other 5 percent downpayment amount and also stamp duties. took a 90% loan from the bank with an interest rate of 4%.

coupled that with a renovation loan with interest rates of 7%/annum... was suffering like crazy... close to 20% of my pay alone goes to interest payments alone!

the worst period was when i took my keys and waiting for reno to complete... i have to service my mortgage + reno loan payments + credit card payments + insurance premiums + rental!!!

but in the end it was still better than renting a place and paying for other ppl's mortgage.

[seiko.citizen]

we're int he same boat lar bro.... i'm not a singaporean too.

when i first bought my place i only have 5 percent cash and use my credit card for the other 5 percent downpayment amount and also stamp duties. took a 90% loan from the bank with an interest rate of 4%.

coupled that with a renovation loan with interest rates of 7%/annum... was suffering like crazy... close to 20% of my pay alone goes to interest payments alone!

the worst period was when i took my keys and waiting for reno to complete... i have to service my mortgage + reno loan payments + credit card payments + insurance premiums + rental!!!

but in the end it was still better than renting a place and paying for other ppl's mortgage.

ouch! talk about mortgage pain! currently im looking at buying a property in perth, part own with parents. im looking at $600/wk in mortgage repayments. can only borrow 80% of the property price.

[sportee]

Lets talk about property in Singapore...

Hi guys,

Something to discuss here. Property prices had soften after the various government measures that took place last year and early this year. Many has been detered from buying properties these days. Went to a couple of launches and can see that the response is pretty bad.

Singapore has a unique property market. We are very short of land area here and that explains why the new buildings these days are getting taller. Some old establishment are starting to get en-bloc. And can see that many developers are buying up land from the GLS.

Do you think that a property bubble is building? Is it a good time to buy since market is cooling off...?

[jonchar]

With the influx of foreigners and the limited scarce land in Singapore, I feel the only way to go for the property prices is up.

[kenlinliu1419]

I personally feel that there is only a small upside in property prices over the course of the next 12-18 months.
The problem is that inflation is the main problem and all the world governments are trying their best to curb it. Because of the measures that they are trying to implement, i think it will limit any increases.

However, I would personally recommend staying relatively liquid and wait for the next cycle to get into the market.

[stektan]

Long term, property prices will go up just like Rolex prices but there are always cycles - boom and bust. A lot of the current demand is driven by chinese money, low interest rates and speculative demand. Government is trying hard to curb the speculative piece but economy is still doing very well and of course, China, India and Indo are still doing very well. So i think property will come down slightly due to the government measures but unless there is a sharp increase in interest rates or a major economic recession, prices may not come down.

Personally, I think property prices are on the high side now and it's just a matter of having the liquidity to buy when market gets hit. Prices now are almost at the same height as 1996, which I bought a property then as well, and got burned when the market crashed.

[Wenda]

I am with stektan. I personally have postponed my buying (I saved up just about enough based on 2007/8's pricing) and now, what I have been aiming for is just too expensive for me to afford.

So indeed, stay liquid may be best.

[wolfeyes1974]

i'm waiting for the market to crash...i won't buy any property now even though it's shown signs of cooling off. The price is still on the high side.

[sportee]

Bought one in 1997 as well, before the crisis. Though it came down after that, I held on and sold it last year, at a profit. And rented it out for 6 years too. So it's not all bad though I bought it at a high. Thinking of buying one again... Hahah

Long term, property prices will go up just like Rolex prices but there are always cycles - boom and bust. A lot of the current demand is driven by chinese money, low interest rates and speculative demand. Government is trying hard to curb the speculative piece but economy is still doing very well and of course, China, India and Indo are still doing very well. So i think property will come down slightly due to the government measures but unless there is a sharp increase in interest rates or a major economic recession, prices may not come down.

Personally, I think property prices are on the high side now and it's just a matter of having the liquidity to buy when market gets hit. Prices now are almost at the same height as 1996, which I bought a property then as well, and got burned when the market crashed.

[triton]

just curious, which type of property you all eyeing now

[Wenda]

am into small, cheap and possibly freehold. Location is last on my priorities. Infact, the more ulu the better.

[seiko.citizen]

for me, location is a must. the closer to amenities the better. another concern for me is, getting a place close to my place of work.

[sportee]

I would prefer the CCR or RCR...

[buaysaikum]

scouting for commercial properties for investment now.

considering a 4.75% yield shophse now. left 70++ years

[sportee]

scouting for commercial properties for investment now.

considering a 4.75% yield shophse now. left 70++ years

Personally feels that commercial properties not much capital appreciation, and the yield of 4.75% per annum can be gotten from the stock mkt, though there's always a chance of capital depreciation.... just like physical properties...