richman 0 Report post Posted October 17, 2008 Definitely sign that the property market is coming down. How many 8k cap couple can afford $500k flat? Hold on to your purchase if you are getting one. The market will definitely see much lower price next year. Just sharing my experience. Share this post Link to post Share on other sites
Red 0 Report post Posted October 20, 2008 Richman, If you are referring to Kim Tian, then it probably true as it is this area was was speculated highly and has gone up to the roof. If you are referring to new flats, I dont think so, the high cost material, location and BTO by HDB, the prices has gone up. It is still possible to own a flat if you are earning 8K, the only thing, makesure you dont have commitment -i.e. car, other loans or CC debt. If you are in a good financial health why not. To some of us, i.e. new citizens or newly married couples, there is a demand. Share this post Link to post Share on other sites
richman 0 Report post Posted October 20, 2008 Richman, If you are referring to Kim Tian, then it probably true as it is this area was was speculated highly and has gone up to the roof. If you are referring to new flats, I dont think so, the high cost material, location and BTO by HDB, the prices has gone up. It is still possible to own a flat if you are earning 8K, the only thing, makesure you dont have commitment -i.e. car, other loans or CC debt. If you are in a good financial health why not. To some of us, i.e. new citizens or newly married couples, there is a demand. Hi Red, Are u a new citizen? Actually the cost of construction doesn't matter in pricing since it is based on mkt price which in turn is based on demand...if there no demand price will fall. If kim tian falls, the rest will fall. Mkt forces will ensure the gap between kim tian n the rest. The gap might narrow in bad times and wider in good times but the gap will be there. Share this post Link to post Share on other sites
neanea 0 Report post Posted October 21, 2008 how much is it? Which block? Share this post Link to post Share on other sites
Red 0 Report post Posted October 21, 2008 New PR. Lengkok Bahru, Redhill for abt 505K. Abt 5 min from Redhil MRT. Condition of the 5rm is move-in condition. Currently renting for 1.5K a month. I could have opted to pay for rental but for the same amount of monthly payment, my thoughts is better buy a place. Even with renewal of lease, not sure if I can get 1.5K rental anymore, it would been easily 2K. Even JTC rental is now 1660 per month now. As you can see, my dilemma would be either to pay rental or buy a place. I could wait for 6 months or 12 months. This mean I will continue to pay 9K or 18K for rental and possibly more. Would the price of HDB 5rm drop significantly i.e. 10 - 15%. May be, may be not as well. From the way I see, 505K for a place in Central aint too bad, considering all other places in Redhill that I have seen is 580K and above. I hope I am not giving ignorant impression that I am screwing up the market but for those whom have been renting property for 1.5K and above a month, on top of that we are aspiring new PR, we have to thinking abt value of renting versus buying our own nest. Hence, backing my initial post that there is demand from new Citizens. Yes, we can also argue, why cant I wait until I become a Citizen and apply for HDB flat. Yes, this is possible but this means 24 mths of waiting period before becoming Citizens then only we can buy from HDB. On top of that, HDB queue is too long and even aspiring new couples are having difficulties getting one after 8 ballots. It will be tough chance for me and kids. The best way, is still resale housing. My other views is also that HDB market and resale pricing may not have significant changes (i.e. 15% and above). The pricing of new HDB is so much toward the market pricing that even new 4rms are already going toward 300K brackets, hence 5rm would be more. Not forgetting BTO prices are even higher. Hence, the prices of HDB is not going be dropping significantly like flies. Share this post Link to post Share on other sites
icky 0 Report post Posted October 21, 2008 New PR. Lengkok Bahru, Redhill for abt 505K. Abt 5 min from Redhil MRT. Condition of the 5rm is move-in condition. Currently renting for 1.5K a month. I could have opted to pay for rental but for the same amount of monthly payment, my thoughts is better buy a place. Even with renewal of lease, not sure if I can get 1.5K rental anymore, it would been easily 2K. Even JTC rental is now 1660 per month now. As you can see, my dilemma would be either to pay rental or buy a place. I could wait for 6 months or 12 months. This mean I will continue to pay 9K or 18K for rental and possibly more. Would the price of HDB 5rm drop significantly i.e. 10 - 15%. May be, may be not as well. From the way I see, 505K for a place in Central aint too bad, considering all other places in Redhill that I have seen is 580K and above. I hope I am not giving ignorant impression that I am screwing up the market but for those whom have been renting property for 1.5K and above a month, on top of that we are aspiring new PR, we have to thinking abt value of renting versus buying our own nest. Hence, backing my initial post that there is demand from new Citizens. Yes, we can also argue, why cant I wait until I become a Citizen and apply for HDB flat. Yes, this is possible but this means 24 mths of waiting period before becoming Citizens then only we can buy from HDB. On top of that, HDB queue is too long and even aspiring new couples are having difficulties getting one after 8 ballots. It will be tough chance for me and kids. The best way, is still resale housing. My other views is also that HDB market and resale pricing may not have significant changes (i.e. 15% and above). The pricing of new HDB is so much toward the market pricing that even new 4rms are already going toward 300K brackets, hence 5rm would be more. Not forgetting BTO prices are even higher. Hence, the prices of HDB is not going be dropping significantly like flies. up up we can't control the trend of property price, just buy it as you need, this is not an investment for us... Share this post Link to post Share on other sites
richman 0 Report post Posted October 26, 2008 up up we can't control the trend of property price, just buy it as you need, this is not an investment for us... Hi Icky, That true too. But for people in finance, this illustrates a lack of financial literacy. Cheers New PR. Lengkok Bahru, Redhill for abt 505K. Abt 5 min from Redhil MRT. Condition of the 5rm is move-in condition. Currently renting for 1.5K a month. I could have opted to pay for rental but for the same amount of monthly payment, my thoughts is better buy a place. Even with renewal of lease, not sure if I can get 1.5K rental anymore, it would been easily 2K. Even JTC rental is now 1660 per month now. As you can see, my dilemma would be either to pay rental or buy a place. I could wait for 6 months or 12 months. This mean I will continue to pay 9K or 18K for rental and possibly more. Would the price of HDB 5rm drop significantly i.e. 10 - 15%. May be, may be not as well. From the way I see, 505K for a place in Central aint too bad, considering all other places in Redhill that I have seen is 580K and above. I hope I am not giving ignorant impression that I am screwing up the market but for those whom have been renting property for 1.5K and above a month, on top of that we are aspiring new PR, we have to thinking abt value of renting versus buying our own nest. Hence, backing my initial post that there is demand from new Citizens. Yes, we can also argue, why cant I wait until I become a Citizen and apply for HDB flat. Yes, this is possible but this means 24 mths of waiting period before becoming Citizens then only we can buy from HDB. On top of that, HDB queue is too long and even aspiring new couples are having difficulties getting one after 8 ballots. It will be tough chance for me and kids. The best way, is still resale housing. My other views is also that HDB market and resale pricing may not have significant changes (i.e. 15% and above). The pricing of new HDB is so much toward the market pricing that even new 4rms are already going toward 300K brackets, hence 5rm would be more. Not forgetting BTO prices are even higher. Hence, the prices of HDB is not going be dropping significantly like flies. Hi Red, Congrats on getting being a PR. I welcome PR with good behaviours. Even within Singaporeans, there black sheet I can see....like incosiderate neighbours etc. $505k for a 5 room in Redhill is extremely good buy to me if you have bought 63a & 63b and not the older flats in Blk 50+. In the long run, buying is a good move even if rental fall, cos u own the home, u can design to your fancy etc. Share this post Link to post Share on other sites
Red 0 Report post Posted October 27, 2008 Hey richman, Unfortunately it is the older 50+ flats (5I type) and honestly it is happens to be at lower floors. The upside it is fully renovated with pretty fine finishing which means little none renovation. We could literary move in with our bags (technically speaking). All basic goods like kitchen, air-con, fan, cupboard, toilets and flooring are done up. Despite the locality, at times I couldn't help myself in thinking, did I pay too much at current troubled times? May be at the price that I am paying it is a bit too steep. As you can see from my other posting there is also after thoughts of if i should just walk out from deal. Dilemma, dilemma...... Share this post Link to post Share on other sites
richman 0 Report post Posted October 27, 2008 Hey richman, Unfortunately it is the older 50+ flats (5I type) and honestly it is happens to be at lower floors. The upside it is fully renovated with pretty fine finishing which means little none renovation. We could literary move in with our bags (technically speaking). All basic goods like kitchen, air-con, fan, cupboard, toilets and flooring are done up. Despite the locality, at times I couldn't help myself in thinking, did I pay too much at current troubled times? May be at the price that I am paying it is a bit too steep. As you can see from my other posting there is also after thoughts of if i should just walk out from deal. Dilemma, dilemma...... Hi Red, Mkt prices will fluctuates up and down. But if you are happy with it, it alright...just enjoy your home. If 50+, up the hill one...it quite old. However when prices was crazy, your prices seem ok...but going forward let say it drop back to before the property charge up...it will be worth 300 to 350k......it highly likely going forward....and may even drop below that Share this post Link to post Share on other sites
Red 0 Report post Posted October 28, 2008 Oh well, always look on the bright side of life. At least it is not 500k spent in Jurong east or Bukit Batok. In Redhill aint too bad. It is still in District 3. Near to town and work. Always heard that they have good food in Redhill. Nevertheless, it is for home not investment, so as long as I can live comfortably, that will do. Money can always earn back and more. Positively with Redhill, I can always fetch good rental... Share this post Link to post Share on other sites
richman 0 Report post Posted November 7, 2008 Oh well, always look on the bright side of life. At least it is not 500k spent in Jurong east or Bukit Batok. In Redhill aint too bad. It is still in District 3. Near to town and work. Always heard that they have good food in Redhill. Nevertheless, it is for home not investment, so as long as I can live comfortably, that will do. Money can always earn back and more. Positively with Redhill, I can always fetch good rental... Hi Red, As long as one is contended, it enough. I love the location too. I use to stay at Blk 70 rental flats in the older days. Agree, money can always earn back one. But for me, I do not allow myself to lose such money. Before 2006, the rental mkt is pretty dead. A room is redhill and a room in jurong is about the same price. Most people who rent HDB works in TUAS, students, nurse etc. Rich expat rent Condos. Cheers. Share this post Link to post Share on other sites
The_Corporation 0 Report post Posted December 11, 2008 Hey richman, Unfortunately it is the older 50+ flats (5I type) and honestly it is happens to be at lower floors. The upside it is fully renovated with pretty fine finishing which means little none renovation. We could literary move in with our bags (technically speaking). All basic goods like kitchen, air-con, fan, cupboard, toilets and flooring are done up. Despite the locality, at times I couldn't help myself in thinking, did I pay too much at current troubled times? May be at the price that I am paying it is a bit too steep. As you can see from my other posting there is also after thoughts of if i should just walk out from deal. Dilemma, dilemma...... i'm like u.. i just bought a 4I for 460k..condition is moved in with only slight touch up.. mine is the point block along tiong bahru road... i didn't mind paying the price for it's location, amenities, transportation and view of the park and city view.. with no afternoon sun and it's very windy too.. in the current situation valuation would drop probably.. but with demand out stripping supply in the town area.. it's hard to see how low the valuation will drop.. and town is always a HOT spot for many.. so dun worry bout the downside in the short run.. think of the convenience u have... besides whatever CPF money u put or paid.. it's still gonna be in there.. sell only when u find it match ur buying.. otherwise dun bother comparing.. i've lived in the area for 30 years... and the price has been increasing very fast in good times.. and drops only slightly in bad times like now.. good units are hard to find in town area... i would say go for it if u have the means... Share this post Link to post Share on other sites
asugama 0 Report post Posted December 11, 2008 just want to check with everyone here... is it a good deal for 4A flat in bishan costing 400k high floor, around 10-15 mins walk to bishan MRT? the flat is around 18-20 years old now. will it be a problem in getting bank loan if the flat is too old? Share this post Link to post Share on other sites
yokine9a 1 Report post Posted December 12, 2008 just want to check with everyone here... is it a good deal for 4A flat in bishan costing 400k high floor, around 10-15 mins walk to bishan MRT? the flat is around 18-20 years old now. will it be a problem in getting bank loan if the flat is too old? Browse thru the past resale transactions on HDB website for bishan area, you would have an idea if that price is a good deal. I lived in TPY, many 4-rm flats here are selling around 400k too. 20 yrs old flat can still get bank loan. Only flats > 40 yrs old will have problem. Share this post Link to post Share on other sites
