Condos: Buy Now Or Wait?

[voxy 0]

It's really ridiculous lor. Even more difficult for young couples to get married and have kids!

Just cannot afford.

Looks like the garment is increasing our population to 6M regardless if housing has shortages.

If you look at the land bank data from the developers.... it is dwindling. So even if land is release by garment, it will all be leasehold at suburban prob 2010..... However by 2013, we may seriously have a shortage bec developer had postpone lots of development in 2009 and 2010.

But I think people should ask what is the motto of HDB... to provide affordable housing or to maximise gov revenue. THe supplies of public housing is directly influencing the private housing prices.

[tango 0]

I remember reading a writeup that a HDB @ bishan was going for $800k before the prices came crashing down? I was thinking 0.8million for a hdb flat?!

anywayz...i do hope the prices will drop further...the prices are crazy man! With a household combined income of $10k might find it hard to service an "affordable" $700 hdb flat!

So guyz, with the newest government ruling, ie removal of IA, will the private property prices come down?

[scenic98 0]

So guyz, with the newest government ruling, ie removal of IA, will the private property prices come down?

all eyes will be on gilman and hundred trees pricing expected to be launched very soon.

if a serious global eonomic crisis did not really dampen the buying mood, i doubt very much how much impact MBT's measures have.

but having said that, buyer's and seller's price will widen....just see who blink first.

[aoiaoi 0]

So guyz, with the newest government ruling, ie removal of IA, will the private property prices come down?

I doubt prices will come down significantly. Already saw some agents advertising that for The Interlace @ Gillman Heights, 2 bedroom unit estimated price is $800k+ for a 800+ sq ft unit, i.e $900+ psf.

But more likely I think the developer may price it near to what WingTai's Ascentia Sky is selling at (> $1200 psf).... cos also in that same district 03

Edited September 16, 2009 by aoiaoi

[sepultura 0]

One thing I've seen is that all the newer condos, even those built in 2003-04, are less spacious than the older ones. Some of the newer ones squeeze in 3 bedrooms + 1 study in 1200 sq-ft which is horribly cramped. Check out changi rise or savannah condo-park in Simei. The master bedroom can hold a king size bed, but the 2nd and 3rd bedrooms can only have a super-single, not even queen size, unless you want to open the door and jump on to the bed.

Some people like to pay $$ for these properties because of the landscaping and other facilities but at the end of the day we come back home to live, and I always feel these new condos are rather cramped.

So... at the end of the day, if you need one, buy now. No need to wait.

[icer 0]

I think the market is cooling down and the prices will be falling soon.

Yesterday I went to see a showflat as they were offering discounts. It's near city area, freehold property. However, I was the only client there at 11.30am! I was then being pushed to commit.

Of course I didn't.

What do you guys think?

[therat 18]

which project?

[icer 0]

The one got many TIERs one lor.

which project?

[synapse 0]

One thing I've seen is that all the newer condos, even those built in 2003-04, are less spacious than the older ones. Some of the newer ones squeeze in 3 bedrooms + 1 study in 1200 sq-ft which is horribly cramped. Check out changi rise or savannah condo-park in Simei. The master bedroom can hold a king size bed, but the 2nd and 3rd bedrooms can only have a super-single, not even queen size, unless you want to open the door and jump on to the bed.

seems to be the case for all new houses (condo or hdb) ..

[icer 0]

I just viewed one that squeezes 2 bedroom into a 500+ sqf apartment lor. Really cramped!!!

seems to be the case for all new houses (condo or hdb) ..

[JustMortgage 0]

The one got many TIERs one lor.

Near balestier? another "Mickey Mouse" project.

Location wise not very ideal.

[icer 0]

I am ok with the location. Near to city and many eateries.

You don't like it coz of the hotels?

Near balestier? another "Mickey Mouse" project.

Location wise not very ideal.

[JustMortgage 0]

I am ok with the location. Near to city and many eateries.

You don't like it coz of the hotels?

Just a personal preference. =) The roads are narrow and winding + it's behind a eatery smoke and all that. The area is also home to nightclubs and hotels. For the PSF, I prefer other areas. Like I say, personal preference.

[icer 0]

True. It's too expensive. $800 psf is more reasonable.

Just a personal preference. =) The roads are narrow and winding + it's behind a eatery smoke and all that. The area is also home to nightclubs and hotels. For the PSF, I prefer other areas. Like I say, personal preference.

[lee_sg_123 0]

Personally I think now is a good time to look at older condo/apt units that has actual plot ratio of less than 1.0 (meaning each unit you purchase, e.g. a 1000sqft unit, your ownership of physical land is at least 1000sqft and above). As these units are usually older (at least 10 yrs old), and most are fully paid, it takes time like this to entice owners to sell to realise their gain. long term investment wise, this would be attractive as it is a fact that land (freehold somemore) is scarce esp near MRT.

i am finalisng on a gated walkup apt with swimming pool. entitled ownership of the land is 1300sqft and minutes walk to kembangan mrt. without considering the building, just that piece of raw land ownership value, how much would you pay? freehold and 1.4 plot ratio.

my purchase price, based on the physical land, is about $400psf per plot ratio. the built-in space apartment which could yield rent is an added bonus.

just offering another perspective.