tag:blogger.com,1999:blog-3369913673706314365.post6639709991651429225..comments2023-08-29T15:46:12.709+08:00Comments on For Prudent Investors & Home Buyers: Property Buyers be Prudent: Fewer Jobs, More Retrenchments AheadUnknownnoreply@blogger.comBlogger6125tag:blogger.com,1999:blog-3369913673706314365.post-67719451114498239372008-12-27T10:55:00.000+08:002008-12-27T10:55:00.000+08:00when the price of a 4 room flats rose from $200k+ ...when the price of a 4 room flats rose from $200k+ to 300k+ within 2 years, that's call "INFLATION".Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3369913673706314365.post-32840137546008084472008-11-13T18:29:00.000+08:002008-11-13T18:29:00.000+08:00Hi Danny and Smartbuyer, when I started looking ou...Hi Danny and Smartbuyer, when I started looking out for flats about 2 years ago, when I just graduated, the price of a new 4 room flat was about $200k+. Now the prices have soared to about $300k+ for a new 4 room pungool HDB. Why the dramatic price increase? <BR/><BR/>It gives us an impression that HDB is trying to make a HUGE profit from the citizens rather than providing AFFORDABLE housing. Are there some 'invisible market forces' out there that can cause the gahman to increase the price of HDB by a cool 50%?<BR/><BR/>FYI, we tried balloting and still can't get a flat to this day.<BR/><BR/>Thanks!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3369913673706314365.post-61838233290201521982008-11-11T18:05:00.000+08:002008-11-11T18:05:00.000+08:00"Private property prices are comparable to any maj..."Private property prices are comparable to any major cities and subject to market forces.<BR/>"<BR/><BR/>hillarious...!!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3369913673706314365.post-92052442221684338092008-11-05T14:48:00.000+08:002008-11-05T14:48:00.000+08:00"The powerful developers can always count on the G..."The powerful developers can always count on the Government support, eg recently the Government cut down significantly on the supply of the sale of lands." - Anonymous<BR/><BR/>I assume that anonymous is referring to article cited in http://www.channelnewsasia.com/stories/singaporebusinessnews/view/386856/1/.html<BR/><BR/>I take issue with anonymous' claim that the Government is unfairly on the side of the "powerful developers" and that "The powerful or listed developers will always be richer and private properties will always be overpriced."<BR/><BR/>These statements slander the integrity of the Singapore gahmen and are not backed by facts.<BR/><BR/>I suspect that the government is simply responding to global financial circumstances and not some evil back room poly to boost cooperate profits.<BR/><BR/>Credit Suisse says that in 1998 and 2001, the larger developers suffered respective stock price falls of 66-79 per cent and 31-50 per cent.<BR/><BR/>In the article http://luxuryasiahome.wordpress.com/2008/10/02/write-downs-could-see-property-stocks-slip-further/<BR/>"CapitaLand and Keppel Land wrote down between $900 million and $2.1 billion in 1998, and between $700 million and $900 million in 2001."<BR/><BR/>We clearly see that the Gahmen had not interfered in the property prices but allowed market forces to work things out.<BR/><BR/>Furthermore, the gahmen's mandate is not to enable all Singaporeans to afford private property. About 90% of Singapore's population are housed in HDBs which by and large are affordable. <BR/><BR/>While the pinnacle @ duxton and city view @ boon keng are priced over $500k, the 3rd quarter median resale price of a 4br flat island wide is $313,000k. After a $30k gahmen grant, the couple is faced with about $1300/mo payment over 30 years. This is extremely affordable as incomes for couples are usually over $4000 + (see link below)<BR/><BR/>http://www.salary.sg/2007/median-income-by-age-group/<BR/><BR/>Private property prices are comparable to any major cities and subject to market forces.<BR/><BR/>Anonymous's comments are unfairly biased against the gahmen without any evidences. I have a low opinion of users who post irresponsible comments online behind the cloak of anonymity. <BR/><BR/>Responsibility of speech should go hand in hand with freedom of speech. Otherwise you risk idiotic issues like the South Korean Mad Cow Disease Gene. http://news.newamericamedia.org/news/view_article.html?article_id=b30403ce06420dd8a8c12e9e85e0abe1<BR/><BR/>Smartbuyer, sorry if this topic has some what detracted from real estate, but I am sure you support people backing up their claims (e.g. buy now sure make $) with some facts and sound reasoning.<BR/><BR/>Thank you.dannyhttps://www.blogger.com/profile/00714127174675485328noreply@blogger.comtag:blogger.com,1999:blog-3369913673706314365.post-87422775849840584572008-11-03T09:57:00.000+08:002008-11-03T09:57:00.000+08:00Private Property Prices have already come down and...Private Property Prices have already come down and will continue to come down! Why? Recession, retrenchment and soon, repossession. Face the facts: jobs cut, earnings cut and credit crunch; means money for private property has shrunk sharply.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3369913673706314365.post-52389099125682483792008-11-02T16:41:00.000+08:002008-11-02T16:41:00.000+08:00Bear's comments that property prices will come dow...Bear's comments that property prices will come down. It will not come down much and will at worst hold on or fall less than 10%. The powerful developers can always count on the Government support, eg recently the Government cut down significantly on the supply of the sale of lands . This gives more confidence to the developers not to cut price and hold on because they the financial means to hoard land for years. Next, the Government may reinstate defer payment for purchase of properties or offer attractive schemes to woo properties buyers to incur debts and buy overprices private properties. Such government measures are calculated to benefit the powerful developers who had reaped significant profits all these few years riding on IRs, F1, YOG, FT, higher populations. The powerful or listed developers will always be richer and private properties will always be overpriced. We are in a unique situation in Singapore.Anonymousnoreply@blogger.com