boffi

COV come down seems to be everybody's guess. In stock mkt, ppl call sell, you buy, when analyst say buy , you SELL. Everybody say COV will drop - juz like during Lehman Time, all scared and miss the boat, I came in late or else now can shang an liao. the lesson to learn is to trust your instincts - must have focus. In any case, I think those good estate like Tg Pagar, M parade, Holland V, Bishan, Serangoon Central will continue to be key drivers for high COV. PRs will always think of ways to counter, it is almost impossible to check on overseas property in places like India & china, my fren told me he can just use another name in spore and its almost impossible to find out. He say sporeans stupid to believe that this new policy will work. so yr 50K cov may seem high but you decide if there is value - even Buffet cant gv u answer.

My agent fren updated me that there are some units ard Nex still asking for +50K. I ask him can fetch so much meh? He say this is a supply & demand thing. With new measures, there will be fewer sellers because of 10% cash & the 70% LTV requirement. He expects this to result into a drop in supply for resale falts as ppl hold their breath, wait & see. Those units with good locations will in fact fetch a good price as they get from medium rare to rare . Maybe a high floor corner unit, unblock near NEX and windy with everything mawill continue to command +40 to 50K COV - but this is reserved only for the Best units. I sawa few more in 207, 209 n last week Lor Lew Lian blk 3.

There is no neeed to talk of COV from now on. The HDB resale market is badly bruised and the days of high COV is now over. A close agent fren told me that the nightmare has just begun. He added the biggest hit will be: a) PPl who paid high COV for estates with many BTO coming (e.g. Sengkang, Punggol, Yishan, Sembawang areas) will now be stuck with the homes for a long time to come. b) PPl who own HDB and just bought a condo hoping to sell their HDB when the condo TOP will be in for a BIG BIG shock - the condo $ come down and banks will get them to re-finance + their HDB $$ will drop when the reality of the HDB measures start to sink in. They are now faced with the Devil & the Deep blue Sea. With No PRs & no Pte propety owners to jack up COV, the resale market will drop. I do not know why ppl are complaining of PR, they actually help our HDB go up in value, they actually help many sporeans upgrade to condo after selling HDB @ high COV. Instead of thanking them, we are actually blaming them.

Not wierd at all, the lower px could be due to selling at value within internal family or also ethnic quota ratio that sold at value or very low COV. Everwhere in Spore, px will go up. My fren In sembawang already got offer at 38K but he asking for 50K. Prices should got up again. But why all the talk of px go up?? You sell high, you end up buy high also. Unless you pack the $$ & migrate to JB, or else you end up the same.

Blk 116?? I saw this unit at high flr near lift and they were asking for 350K. Depending on floor, COV is between 25K upto 55K for rare units like super high floor corner. Location is good but there is no supermarket (NTUC or ........) within walking distance. Also, railings feel low when you walk along coridor and their staircase railings were wide enough that they could fit an entire human being. Never seen such railings anywhere in spore. Looking down from Level 18 will make yr legs wobble - good thing they installed wire mesh in alternate floors.

I believe prices will continue upward trend, SIBOR came down last week and this should spur some buying interest for rest of 2010. Alraedy big developers are planning big launches in 3Q. I read somewhere that HDB also looking at building in mature estates in 2011; this wl push prices already so high in these estates to shoot up even more. Tg Pagar is good area & will set new benchmark when Duxton@Pinnacle goes on sale in 5 yrs time. It wl be the 1st HDB to hit $1M - setting a new record for PUBLIC housing. My Thai fren & his wife came to spore & got their PR in 2009. Were looking at selegie, Tg Pagar, Bugis area; but hv literally given up hope due to high COV in that area. agent say anything less than 50K dun waste time coming. Recently recommend them Serangoon central; i hve read from this forum and later wet down with them to reccee the area. Looks decent and centralised enuf, from there to dolby ghaut MRT in 13mins. But now, this area also asking for 40++K COV. How like that? If you think abt it, its a supply & demand thing, ppl are loaded with $$ and I know condo owners (ppl in my office) who buy and leave it vacant; simply waiting to rent out after 3 years or sell at profit. My another fren in 2004 bought a 3-room in Queestown for less than 200K, renovate at 70K and use it as love nest on weekends. It is now worth over 400K.

The camp still there?? I remember is a transport base and they say will vacate the area when I was still in NS 10 yrs ago. Serangoon area has its feet stamped as the most ideal location within the NEL when LTA made serangoon central the NEL interchange. As I mentioned earlier, the land on NEX Mega Mall is a white site; construction partly overseen by LTA as they are required to provide A/C basement linkage to new bus interchange. Those near serangoon central shd see prices closing the gap with AMK, Toa Payoh & Bishan, provided mkt sentiment stay this way. In real estate, sentiment is everything. Anyhow, its impt not to get carried away when paying COV. There's a unit in Lor Lew Lian asking for over $70K COV. When we ask the agent why so high, their reply was unit in good condition, near Mall and en-bloc potential. Except for the last mention, I tot all has been factored into valuation. I believe they ask high cos they know they'll hv to pay high COV for new unit. Any way the last offer was +$50K - but rejected.

No doubt serangoon is hot, I was told tat land on Nex Mega mall is a white site. When Circle line is extended in Feb 2011, it will get you from Serangoon Central to Holland V in under 25 mins. Like in London , Real estate px shot up when the circle line linking the middle & outer were completed. Of cos spore will not be that big to have few layers of circle line. The fact is that this link up will create renewed demand; basic econs will tell you that when demand exceeds supply, price shoots up!! Already Scala is selling at $1,050++psf; a new high for 99 yr lease hold in Lor Chuan and close to 90% sold.

so many ppl so familiar with the serangoon stretch. Notice that serangoon central now no flats on sale in recent weeks. Is it bcos of 7th mth or wat? I believe those who want to sell is waiting for NEX mega mall to open. Px expected to up again for the rest of this year. If go up like that, 3 room will hit at least $350k by yr end - bcos his time valuation goes up, the next seller wl continue to ask for 40 to 50K COV and surely there will be a buyer who will buy. My fren working wth a big developer say The land that NEX is sitting on is a white site, so the value there is a goldmine. Any comments?

The Sarla at Lor Chuan selling like hot cakes, $1,150 average psf!!. Believe Serangoon Central will shoot up as its the interchange of the NEL, offering whole lot of better amenities and MRT connectivity.

So will more new flats in market stablise prices? I say in the news that ppl who cash out of pte condo have hugh cash so they can easily fork out 50 to 60K COV. So gd times ppl buy HDB and bad times ppl oso buy HDB. so hw those young ppl who dun own any hse will be left in sidelines. Hv to waut minimum 3 yrs then get new flat. The 3Q stats will go up again fm what I observed from talking to agents in last 3 weekends. It seems the minimum still at 30k to 40k.

I think those px were way over priced back then They were marketed at px 10 yrs dwn the road. Marketing Condos is all about hype. once the excitement dies off, ppl dun talk abt it any more. Only the really gd ones - Sea View, City Living type of propoerties will go up in value. But its matter of preference, I have a fren who will not swop his Yishun 3 room for a Cantonmnet 5 room.

It was reported today that 100,000 workers needed for strong economy. I suspect this will be next wave coming for increase in HDB prices, some of them will come and work and look for rented flats. If theer is demand for rental HDB, ppl will continue to offer high COV bcos they kno wthey will recoup back. This is a cahin effect rent in demnad COV go up & Up, tats why if you go sembawang or Holland V, the rental difference not much but the asking px can be over over 120K for same kind of flat. If anybody single man/woman think of buying, just go with gut feel and look longer term, buy now. Better than $ idle in CPF.

The ice kacang lady near my office hawker centre told me his agent son (snr director or smething) say that the cheapest 3 room in spore sold in june 2010 in changi V also sold at 18K cov. She staying in Jalan Membina & say that $1M spore flat not far away.