On Margin Call for Property

Originally Posted by Unregistered

The only crowd that beat the iPhone 4S crowd was the Trivelis showroom crowd yesterday.

iPhone and Trivelis crowds have numerical superiority but the the Este Villa crowd was the formidable one.

"The Edge Singapore October 24, 2011 - Este Villa Sold Out. All 121 units of MCL Land's cluster housing project were snapped up in four days of private previews. First to be snapped up was the one and only pair of semi-detached houses with strata area of over 5,400 sq ft, which went for $3.5 million apiece. The other hot favourites were the corner terraced houses, which had strata areas averaging 3,800 sq ft, and were snapped up at prices of $2.4 million to $2.6 million. Intermediate terraces with strata areas of 3,326 to 3,423 sq ft, went for $2.1 million to $2.3 million each."

Originally Posted by Unregistered

iPhone and Trivelis crowds have numerical superiority but the the Este Villa crowd was the formidable one.

"The Edge Singapore October 24, 2011 - Este Villa Sold Out. All 121 units of MCL Land's cluster housing project were snapped up in four days of private previews. First to be snapped up was the one and only pair of semi-detached houses with strata area of over 5,400 sq ft, which went for $3.5 million apiece. The other hot favourites were the corner terraced houses, which had strata areas averaging 3,800 sq ft, and were snapped up at prices of $2.4 million to $2.6 million. Intermediate terraces with strata areas of 3,326 to 3,423 sq ft, went for $2.1 million to $2.3 million each."

Everyone is panic buying. What are you waiting for? If you don't have enough cash, head down to one of those legal moneylenders to borrow to the hilt! The lenders must br good because they advertise daily on prime time TV!

Originally Posted by Unregistered

iPhone and Trivelis crowds have numerical superiority but the the Este Villa crowd was the formidable one.

"The Edge Singapore October 24, 2011 - Este Villa Sold Out. All 121 units of MCL Land's cluster housing project were snapped up in four days of private previews. First to be snapped up was the one and only pair of semi-detached houses with strata area of over 5,400 sq ft, which went for $3.5 million apiece. The other hot favourites were the corner terraced houses, which had strata areas averaging 3,800 sq ft, and were snapped up at prices of $2.4 million to $2.6 million. Intermediate terraces with strata areas of 3,326 to 3,423 sq ft, went for $2.1 million to $2.3 million each."

landed segment is still relatively cheap compared to condo

[EnRoute]

When I started this thread in end Aug, the stock market was on the decline. A few agreed about an impending decline in property.

A few weeks ago the market rallied, then, there were comments that property will never crash (perhaps, only when his grandson graduates).

Can't you see that property is also sentiment driven. When people feel optimistic, they buy stocks and property. When they feel pessimisitc and fearful about the future, they stop buying (or they sell) stocks, and they don't buy property. Some they have to sell the property that they cannot hold.

Usually I am long property, Singapore is one of the best places to own a property given our political stability, wealth and small land area. But with the euro crisis, we are talking about entire countries defaulting. In my layman view, this means that assets that other countries thought they owned, become worthless! Instead of companies in trouble, we have entire countries in trouble. Its like money vaporising from the system. If the debtor cannot pay, that what is the true value of that debt owed? Zero. What asset does the creditor have? None. Suddenly everyone is poorer than before.

I'll be observing the stock market for a clue. Don't think that property will Always go up. It booms but it also bursts. The million dollar question is when ...

Originally Posted by EnRoute

When I started this thread in end Aug, the stock market was on the decline. A few agreed about an impending decline in property.

A few weeks ago the market rallied, then, there were comments that property will never crash (perhaps, only when his grandson graduates).

Can't you see that property is also sentiment driven. When people feel optimistic, they buy stocks and property. When they feel pessimisitc and fearful about the future, they stop buying (or they sell) stocks, and they don't buy property. Some they have to sell the property that they cannot hold.

Usually I am long property, Singapore is one of the best places to own a property given our political stability, wealth and small land area. But with the euro crisis, we are talking about entire countries defaulting. In my layman view, this means that assets that other countries thought they owned, become worthless! Instead of companies in trouble, we have entire countries in trouble. Its like money vaporising from the system. If the debtor cannot pay, that what is the true value of that debt owed? Zero. What asset does the creditor have? None. Suddenly everyone is poorer than before.

I'll be observing the stock market for a clue. Don't think that property will Always go up. It booms but it also bursts. The million dollar question is when ...

Well, the other theory is that the rich people - and there are lots of them - have no where else to park their money other than in safe havens like Singapore. As you said, we offer political stability and excellent infrastructure.

Prices will go up some more. And stay there. The poor and middle are f**ked.

Originally Posted by Unregistered

Prices will go up some more.

Your view is supported by none other than Minister Mentor as reported in The Straits Times on 7 Nov 2011.

"Don't sell your HDB flat, Mr Lee tells resident. Former PM gives advice during visit to Sers project in Holland Drive.

Mr Lim bought his new flat for just $380,000 - a subsidised price for residents under the Selective Enbloc Redevelopment Scheme (Sers). His old flat had cost him about $165,000.

The Sers project rehouses residents from six old blocks near Holland Village in four new high-rise blocks in Holland Drive.

Yesterday, Mr Lim had words of advice from none other than former prime minister Lee Kuan Yew, who visited him in his flat in the early evening.

'He told me, don't sell. The price will go up,' Mr Lim told The Straits Times."

Originally Posted by Unregistered

Your view is supported by none other than Minister Mentor as reported in The Straits Times on 7 Nov 2011.

"Don't sell your HDB flat, Mr Lee tells resident. Former PM gives advice during visit to Sers project in Holland Drive.

Mr Lim bought his new flat for just $380,000 - a subsidised price for residents under the Selective Enbloc Redevelopment Scheme (Sers). His old flat had cost him about $165,000.

The Sers project rehouses residents from six old blocks near Holland Village in four new high-rise blocks in Holland Drive.

Yesterday, Mr Lim had words of advice from none other than former prime minister Lee Kuan Yew, who visited him in his flat in the early evening.

'He told me, don't sell. The price will go up,' Mr Lim told The Straits Times."

But he also said without Mah Bow Tan, our HDB prices will crash, didn't he?

See:
Don't cast protest vote over rising flat prices: MM
"But if Mr Mah loses to the opposition, he warned that Singaporeans better sell their flats fast as they would no longer be of any value."

Originally Posted by Unregistered

But he also said without Mah Bow Tan, our HDB prices will crash, didn't he?

See:
Don't cast protest vote over rising flat prices: MM
"But if Mr Mah loses to the opposition, he warned that Singaporeans better sell their flats fast as they would no longer be of any value."

Hello, first thing first, did Mr. Mah lose to opposition? I think Mr. Khaw is better, so price will continue to shoot up.....................

Away from these political figures, look at the situation now, US high unemployment, Europe on the brink of recession (thanks to Greece and now, Italy). Our price is stablizing. Now, if by a small chance, the economy is improving in both states. What do you expect the price will head? Confdence level will be towards Asia countries. Which countries are safe to invest?