Thursday, July 10, 2008

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Waterfront Waves New Release at $6xx psf, lower than prices paid by earlier buyers.

MM Lee Kuan Yew has particularly mentioned on the property cycles also
"They go up, then they go down. So when they go up, don't believe that it's going to go up further and further, and you start buying bigger and bigger, and mortgage for bigger and bigger amounts. Because the day it starts to fall, the cycle goes around, you will find yourself with a negative value asset." - Feb, 2008

He said that in early part of the year and sure enough, many of those who brought at high is going to have negative value asset and it's a reality. Good example is Waterfront Waves new release from $694 psf Straits Times July 5th. URA transaction Average more than $800 psf, Apr 08 $909 psf. About 20-30% drop. Those who brought just few months ago are having their property drop by so much. They will suffer when the condo is ready, immediate 30% loss! For a million dollars property, they are loosing 300k. That's a lot.

Posted by Anonymous in the Singapore Property Forum.

May also want to read:
History of Singapore Property 1960 to 2008
Buy or Not Buy: How to decide amid mixed market signals
When to Buy, When Not to by
Property Price Index Graph Plotter & Online Property Valuation
Your Property Investment Determines Your Financial Success in Your Life
HDB Resales: West Sees Highest Price Increase


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The blogger here has been affectionately named by close allies as "Smart Buyer" but really, he's not smart. Smart Buyer just believes that being prudent is smart. That's the essence of the message of this blog and Smart Buyer hopes it'll benefit other property buyers.

Smart Buyer :)