Some pay $1 million for HDB Some say recession soon?

[zedwiko]

Will Singapore be hit by a recession soon? Have anyone been retrenched lately due to poor the economy? Some say most companies are planing to continue hiring...what do you think?

[Watcha]

More million dollars HDB will be out soon.

When the HDB lottery owners cash in. Duxton, tiong bahru, queensway....

They are not to blame for asking the sky. The market is flushed with buyers with cash.

[ac_wong75]

Or rather Flush with cheap loans from banks... more to come thanks to QE3

[GadgetGuy]

Or rather Flush with cheap loans from banks... more to come thanks to QE3

Agree. Also, too many suckers around. Pity them when interest rate goes up...

[zedwiko]

so if this property bubble burst will the banks enforce the property owner to pay up the difference in valuation price?

[pegasi]

so if this property bubble burst will the banks enforce the property owner to pay up the difference in valuation price?

Yes the banks could do that but how to "enforce" is another thing as the banks might not gain from force-selling the property in such a situation. There again, it is not like the banks would give maximun loan to everyone regardless of the sitution of the economy/property market.

[pegasi]

I feel recession is like an illness. You fear it would come, and you might even anticipate it coming, but you would only know it when it actually happened.

For the past 2-3 years, I have been hearing recession is coming, and that property price is going to drop.

This is really a question for the economy expert I think

To some, recession is an opportunity.

[zedwiko]

So will this fear cause the majority to hold back on big ticket purchases now in hoping to bag a bargain then. Opportunist mentality, will this bring on the recession sooner?

Personally when the poison on the grail watch is so deep, really cannot wait for who knows when a recession will happen so just went with the heart

[Watcha]

Recession or not, so long the influx of people coming into Singapore on the 6m target.
Property prices will not come down.

I just know that a old 4 room HDB at outskirt and not anywhere near Mrt fetched 2.8k.
This used to be a condo price.

[golanheights]

HDB $1m. There is a high level of liquidity with end buyers (Singaporeans and PRs).
If you factor in the raw qty who had flipped property in the window 2010 - 2012, and the liquidity that they are holding, then frankly HDB $1m is nothing to be alarmed with. And one could take a bank loan for the $1m valuation at the LTV desired and permitted while concurrently holding the liquidity from the flipped propery (pural if applicable).

[jieming]

Recession or not, so long the influx of people coming into Singapore on the 6m target.
Property prices will not come down.

I just know that a old 4 room HDB at outskirt and not anywhere near Mrt fetched 2.8k.
This used to be a condo price.

2.8k ? You mean psf ?

[Watcha]

2.8k ? You mean psf ?

Forget to add. It's rental per month.

[ichiban]

next year lotsa projects TOP
property market will probably soften in end 2013-2014

[Rajan]

The person would liked the location or view or interior or something like that pay that much. This is just one off transaction and I feel that we should not be panicked.

[daned]

my personal views are
1) Population will reach a high of 6mil and the increase from there will NOT be seen like in the 2008-2010 years, exponentially. It will be slow.
2) Land is still alot in SG especially in woodlands and punggol areas. Even in Sengkang can still build somemore.
3) Government already said to accomodate more than 6mil, infrastructure needs time to expand.

Hence Supply > Demand, and that is why bubble is building.