neubie 2 Report post Posted July 25, 2010 (edited) (SINGAPORE) Prices of resale flats should stabilise in a year or so as the Housing & Development Board (HDB) releases a record number of new flats into the market. This was according to National Development Minister Mah Bow Tan, who spoke on the sidelines of HDB's 50th anniversary celebrations at Tampines yesterday. Resale flat prices have been climbing in the last few quarters and they rose 4.1 per cent in Q2 from Q1 to a new high. There is an 'imbalance' in the resale flat market, Mr Mah said. With the economy doing well, demand for resale flats from both first-time buyers and upgraders has been strong. 'I hope that with HDB pushing out a record number of flats, this imbalance will be addressed over the medium term,' he said. There should be stability 'maybe in another year or so'. HDB will be launching 16,000 build-to-order (BTO) flats this year, 80 per cent more than in the previous year. Another 4,700 flats from executive condominium projects and the Design, Build and Sell scheme are potentially coming up. It would be hard to say how resale flat prices will move in the short term, Mr Mah said. 'The economy for the first half was very strong, but all indications are that it may not be so smooth going in the second half.' If the economy cools, 'the demand for housing will also slow down,' he said. Accompanying the rise in resale flat prices was a hike in cash premiums which buyers pay. The median cash over valuation (COV) across all resale deals in Q2 was $30,000, up from Q1's $25,000. Rising COVs are a concern but they are determined by demand and supply in the market and the government cannot intervene, Mr Mah said. He advised first-time buyers to turn to the BTO market 'where there is zero COV, where the prices are lower, where the flats are of newer designs,' he said. Edited July 25, 2010 by neubie Share this post Link to post Share on other sites
gimz63251073 0 Report post Posted July 26, 2010 finally he admitted that HDB under-built... prices would subside in a year? i hope so too. escalating home prices at this rate spells trouble. Share this post Link to post Share on other sites
Warrior88 0 Report post Posted July 26, 2010 Food prices control by NTUC, so that inflation can be control For HDB, price are benchmark by the New Flats. By building more can "stability 'maybe in another year or so" I don't think so, They stop the supply, jam up the flow to create demand. Then start selling. Either they are late, or this is a scam. If New flats are cheap, think ppl will still pay COV for resale, siao right ? New flats had appreciated 500% since 20 years ago, 25%/year, siao right ? Now make until pte house going like $1000/sqft is quite normal, siao right ? Share this post Link to post Share on other sites
bepgof 20 Report post Posted July 26, 2010 (edited) Food prices control by NTUC, so that inflation can be control For HDB, price are benchmark by the New Flats. By building more can "stability 'maybe in another year or so" I don't think so, They stop the supply, jam up the flow to create demand. Then start selling. Either they are late, or this is a scam. If New flats are cheap, think ppl will still pay COV for resale, siao right ? New flats had appreciated 500% since 20 years ago, 25%/year, siao right ? Now make until pte house going like $1000/sqft is quite normal, siao right ? Everyone knows jolly well gov depts work very "efficient", as long as no big problem like the "freak flood" in orchard rd, hdb, sla, cpf, ura, iras, statistic board, mti...etc. Just to make ppl "rich" in term of assets. But ppls are more practical & realistic, want CASH! - that is the "cause" of up soaring of cov. I also in the opinion that gov intentionally "jam" the flow, in a way to clear the "fish bone" left behind. If 9 out of 10 ppls are "siao", you dare to say you are the only "normal" one - cannot beat them, join them- let's join the siao world. Next, finally went to waterfront gold, really the developer sell house as if selling "gold". A 1bed unit at #14 facing reservoir selling at $1,100psf. Everyday see water, stamach can be full meh, siao right? A penhhouse selling at $3.9mil ! Only ah "siao" want to buy, after some years, another ah "siao" buys this from the previous ah "siao". All siao liao. Edited July 26, 2010 by bepgof Share this post Link to post Share on other sites
gimz63251073 0 Report post Posted July 26, 2010 lets not get carried away... a house is for staying, be it private or HDB. we are talking about an average Singaporean who wants to get a house, start a family, have kids, etc. Not those multi millionaires who buy properties worth six digits. COV is a often a killer and i recently saw that a similar unit at a higher floor has a valuation of $32k more than mine and asking for $15k more for COV. I bought my unit a year ago. So all in all, a flat today requires $47k more compared to a year ago. a $32k higher valuation translates to around 15% increase... for simplicity, we can ignore the "higher floor, better price", as the highest floor is at most 6 storeys more only. at the rate prices are rising, we will soon be unable to: 1. get a house 2. upgrade our house (remember, if your small flat's value increase 1%, a corresponding 1% increase in bigger flat is larger) 3. adults to be will not be able to get their own flat. this indeed should raise a concern and people MUST wake up from their good dreams that the Singapore Govt has made them richer by increasing HDB prices. They are in fact much poorer as whatever gains today will not be sufficient to pay for their child's debt tommorrow. it seems to me that common sense, is a rare commodity. Share this post Link to post Share on other sites
neubie 2 Report post Posted July 26, 2010 A 1bed unit at #14 facing reservoir selling at $1,100psf. Everyday see water, stamach can be full meh, siao right? A penhhouse selling at $3.9mil ! Only ah "siao" want to buy, after some years, another ah "siao" buys this from the previous ah "siao". All siao liao. hahaha, that's how those hdb units at marine terrace can sell high price for seaview.... smell sea air unblocked windy view can get full liao..... :D Share this post Link to post Share on other sites
therat 18 Report post Posted July 26, 2010 Next, finally went to waterfront gold, really the developer sell house as if selling "gold". A 1bed unit at #14 facing reservoir selling at $1,100psf. Everyday see water, stamach can be full meh, siao right? A penhhouse selling at $3.9mil ! Only ah "siao" want to buy, after some years, another ah "siao" buys this from the previous ah "siao". All siao liao. Last time, I stay @ Baywater, also facing reservoir. View is good BUT... If there is event on Sat / Sun , I siao liao. Super early wake up call. Can heard them when they using Mic, loud speaker. SIAO I know when the event start and end. Every time when there is a bicycle cycle, can heard the drain .. dong dong .. SIAO When car E-brake.. Eeeee... SIAO When Bus pass by.. SIAO After SIAO for 2 yrs.. cannot SIAO any more. SELL away. Share this post Link to post Share on other sites
bepgof 20 Report post Posted July 26, 2010 (edited) Last time, I stay @ Baywater, also facing reservoir. View is good BUT... If there is event on Sat / Sun , I siao liao. Super early wake up call. Can heard them when they using Mic, loud speaker. SIAO I know when the event start and end. Every time when there is a bicycle cycle, can heard the drain .. dong dong .. SIAO When car E-brake.. Eeeee... SIAO When Bus pass by.. SIAO After SIAO for 2 yrs.. cannot SIAO any more. SELL away. I mean what I said. Yesterday(Mon) down to VVIP at Tivoli Grande (showrm along Changi Rd, present's Lenox U/C), actual site at junction between Still Rd & Koon Seng rd. FH, 82 units, top early 2014, foundation est. end 2011. - Comparatively "good" location, no "cramp" feeling at surrounding, front & right have enough space for building "to breath". In front, 6 storey hotel, behind 2 storey terrace houses. Right- full morning sun..... Web put $7xxpsf....actually $1000psf up. -1+1S, 560sf at $722,000 -2+1S, 850sf at$1,00,3000 -2+1PH, 1249sf at $1,423,000 -3+1PH, 1389sf at $1,514,000 VVIP already 2wk. All small units already bye bye. Edited July 26, 2010 by bepgof Share this post Link to post Share on other sites
salavanun 0 Report post Posted July 27, 2010 I mean what I said. Yesterday(Mon) down to VVIP at Tivoli Grande (showrm along Changi Rd, present's Lenox U/C), actual site at junction between Still Rd & Koon Seng rd. FH, 82 units, top early 2014, foundation est. end 2011. - Comparatively "good" location, no "cramp" feeling at surrounding, front & right have enough space for building "to breath". In front, 6 storey hotel, behind 2 storey terrace houses. Right- full morning sun..... Web put $7xxpsf....actually $1000psf up. -1+1S, 560sf at $722,000 -2+1S, 850sf at$1,00,3000 -2+1PH, 1249sf at $1,423,000 -3+1PH, 1389sf at $1,514,000 VVIP already 2wk. All small units already bye bye. 3room for 300k is a steal now 4room for 400k is cheap now 5 room for 500k is value for money now above all resale average ranging from mature to non mature estates 3room for 180k 4room for 300k 5room for 400k all this average for Direct Hdb based on far away location (NOT mature area) also not including waterfront homes STANDARD HDB flat finishes. if u can see the gap not far. not forgetting the 3 yrs long wait.reno cost . how to strike a balance. resale flats also have many grants to support the loan. new flats 4 room 90 5 room 110 including odd shapes. older flats better layouts. condo was someones dream before 2007 but now condo is wait for toto to strike. with all these factors hdb price will stay strong. Share this post Link to post Share on other sites
