Saturday, February 9, 2008
About this Blog
By: Anonymous
Posted: 18-10-2007
During the 1995 -1998 period, the same scenerio arise. Many people cant get the HDB flat. There was the ballot system and it is just like "ti-kam", 1 out of 8 can get to buy. Due to this flocked system, many people, including those who are not so keen buyer also join the Q, paying $10 as a ballot fee, when they get balloted, then they decide whether to buy or not. At that time, similar to now, many people were worried that they can get their flat, rushing in to buy. Govt see good demand, built even more flats, thus causing the mkt to change from over demand to over supply. Many were convinced that HDB prices will not fall, at that time, it has never fallen before. There were influx of hongkongers, indoesian, etc . then when the mkt adjusted itself with supplies from govt and developers, the price collapse.
Smart Buyers Collection: During the 1995 -1998 period, the same scenerio arise. Many people cant get the HDB flat...
Smart Buyers Collection is a collection of words of wisdom by various Singapore property watchers.By: Anonymous
Posted: 18-10-2007
During the 1995 -1998 period, the same scenerio arise. Many people cant get the HDB flat. There was the ballot system and it is just like "ti-kam", 1 out of 8 can get to buy. Due to this flocked system, many people, including those who are not so keen buyer also join the Q, paying $10 as a ballot fee, when they get balloted, then they decide whether to buy or not. At that time, similar to now, many people were worried that they can get their flat, rushing in to buy. Govt see good demand, built even more flats, thus causing the mkt to change from over demand to over supply. Many were convinced that HDB prices will not fall, at that time, it has never fallen before. There were influx of hongkongers, indoesian, etc . then when the mkt adjusted itself with supplies from govt and developers, the price collapse.
About this Blog
By: Oct10
Posted: 12-10-2007
I recently sold my suburban investment property in July 2007 just after it crossed the 1996's peak value for similar property types.
I took the 96 peak as a benchmark that while there may still be some upside in today's property boom, it's not going to be very much more.
In my mind the 1996 frenzy was greater than the current one, even without the IRs, F1, 6m population, etc. Back then, Hong Kong was priming for its return to Communist China in 1997, and many Hongkongers were buying up properties in Singapore and taking up residency here and elsewhere in their bid to secure external homes. Singapore was one of the four roaring economic tigers, the sense of job security was much higher than now, employer's CPF contribution was at its highest, bank loans were easy to obtain, expats here had very generous housing package (unlike now), every IPO was many times oversubscribed, people were queueing up for property launches DAYS in advance, and practically one out of four sales was a subsale ...
No, today's frenzy is nowhere like that in the mid 90s. To me, the main cause of today's boom is the massive rate of enbloc dislocation over a very short period of time, something we didn't have in the mid-90s. The IR factor is puny compared to the other forces at play in the mid-90s. Yes, there may be more enbloc-induced wealth this time, but the appetite for speculation was stronger last time.
Once the enbloc pace slows down, I think we may not see any huge upside anymore now that we have largely surpassed the 90s' peak.
Smart Buyers Collection: main cause of today's boom is the massive rate of enbloc dislocation..
Smart Buyers Collection is a collection of words of wisdom by various Singapore property watchers.By: Oct10
Posted: 12-10-2007
I recently sold my suburban investment property in July 2007 just after it crossed the 1996's peak value for similar property types.
I took the 96 peak as a benchmark that while there may still be some upside in today's property boom, it's not going to be very much more.
In my mind the 1996 frenzy was greater than the current one, even without the IRs, F1, 6m population, etc. Back then, Hong Kong was priming for its return to Communist China in 1997, and many Hongkongers were buying up properties in Singapore and taking up residency here and elsewhere in their bid to secure external homes. Singapore was one of the four roaring economic tigers, the sense of job security was much higher than now, employer's CPF contribution was at its highest, bank loans were easy to obtain, expats here had very generous housing package (unlike now), every IPO was many times oversubscribed, people were queueing up for property launches DAYS in advance, and practically one out of four sales was a subsale ...
No, today's frenzy is nowhere like that in the mid 90s. To me, the main cause of today's boom is the massive rate of enbloc dislocation over a very short period of time, something we didn't have in the mid-90s. The IR factor is puny compared to the other forces at play in the mid-90s. Yes, there may be more enbloc-induced wealth this time, but the appetite for speculation was stronger last time.
Once the enbloc pace slows down, I think we may not see any huge upside anymore now that we have largely surpassed the 90s' peak.
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