How much are you earning per annum?

Originally Posted by Unregistered

Wrong. You need to cough up $600k. Remember the 10% ABSD that you'll have to pay IRAS.

Smartypants. Forgot to include the agents fees?

Originally Posted by Unregistered

Don't be a fool. The 30% increase in supply will be met with the car owners changing cars. In addition, there will be greater demand from increase in income and wealth of Singaporeans, families owning two cars or more (some families even own 5 cars), increase in population, flipping of properties especially BTO flats, etc. So while supply increase, demand also increase and increase by 100%! so by demand and supply theory, COE prices will rise.

Go and read the Straits times car advertisements this weekend. All models cutting their prices. How can COE continue to go up? Don't be a fool.

Originally Posted by Unregistered

Go and read the Straits times car advertisements this weekend. All models cutting their prices. How can COE continue to go up? Don't be a fool.

Cutting prices doesn't mean COE price will drop. It just means they want to sell more to meet quota. Also since there are more COEs they can afford to reduce their big fat margin since their profit will still be the same or more. Don't be a stupid fool.

Originally Posted by Unregistered

We are both working professionals, 48/49 years old. Our combined income is $200k pa. We live in a luxury condo worth $1.5m, fully paid. Our other assets is worth $500k. Our total net worth is $2m. Based on your theory, we are in the lower middle class group.

Is this correct? If what you say is correct, then 95% of Singaporeans are poor and destitute.

Just be contented with what you have. Why care about what class u r in? Is this class group endorse by the govt or some renown group like Forbes?

A lot of postings here are full of crap and ********. Anyway when you go to banks or when u plan to migrate overseas, your property is never taken into consideration when counting your wealth. This is becoz your property is not liquid UNLESS you sold them away and cover them into cash.

Btw 48/49 earning combining $200k pa is very impressive and if you got kids, you are very successful.

Originally Posted by Unregistered

Smartypants. Forgot to include the agents fees?

Lol. I was just stating the material components of the upfront cash outlay.

If you want to be anal, there's still the usual buyer's stamp duty, the mortgagee bank's lawyer's fees and the disbursements such as the mortgage stamp duty.

Back at you smartypants.

Originally Posted by Unregistered

Cutting prices doesn't mean COE price will drop. It just means they want to sell more to meet quota. Also since there are more COEs they can afford to reduce their big fat margin since their profit will still be the same or more. Don't be a stupid fool.

I dont believe 100,000 will be willing to pay $70,000++ for a piece of paper... If they could afford they would have entered market at todays price point... So the trend will only be down.

Originally Posted by Unregistered

I dont believe 100,000 will be willing to pay $70,000++ for a piece of paper... If they could afford they would have entered market at todays price point... So the trend will only be down.

There will always be high demand. Existing car owners who cannot afford to buy the new cars will go to the resale market. The new car buyers are the younger, more sophiscated, higher paying grads who earns a lot more than the older generation. Not forgetting our population has increased with so many rich people coming to our beautiful shore. Singapore is the most sought after place for people to migrate to.

42, earning $5k pm. Wife, 40, earning $6k pm. We are thinking of selling our flat to upgrade to an EC. It has been our dream to own a condo. We can buy a nice EC for only $700k (3 bedroom). We can loan 80%. After we sell our flat, we will have some cash to do some renovations and change our current car to a new one.

Originally Posted by Unregistered

42, earning $5k pm. Wife, 40, earning $6k pm. We are thinking of selling our flat to upgrade to an EC. It has been our dream to own a condo. We can buy a nice EC for only $700k (3 bedroom). We can loan 80%. After we sell our flat, we will have some cash to do some renovations and change our current car to a new one.

Your combined income is only $11k. Are you willing to pay $70k for a piece of paper to buy a new car today? or will you wait for it to drop to $30k?

Originally Posted by Unregistered

Your combined income is only $11k. Are you willing to pay $70k for a piece of paper to buy a new car today? or will you wait for it to drop to $30k?

We wish it will drop to $10k like during the good old days but we don't think that will happen. Anyway, after we sell our flat we will have the cash to buy a new car. It is like free money to us. We buy cheap new flat and sell at high price. Easy money. Many people already doing this.