Property Prices Have Crashed (see graph)

Originally Posted by Unregistered

haha, quite a turnaround... whatever happened to all the "long property!" jokers strenuously arguing their case earlier?

swamped by logic I suppose

"long property! jokers" are a minority in this forum.

Originally Posted by Unregistered

"long property! jokers" are a minority in this forum.

$6,400psf. Try to beat that.

We are seeing record highs every day. Do you have any record lows to share please?

Originally Posted by Unregistered

$6,400psf. Try to beat that.

We are seeing record highs every day. Do you have any record lows to share please?

In HK and China, there has been developers who have been caught buying their own properties at record prices to boost sentiment. So will take record single unit sales with a grain of salt.

Originally Posted by Unregistered

$6,400psf. Try to beat that.

We are seeing record highs every day. Do you have any record lows to share please?

Not yet.
CB Richard Ellis’ (CBRE) latest report says prices of luxury homes in Singapore dropped 1.7 percent in the second quarter. Luxury home rentals fell 1.9 percent quarter-on-quarter.

Current number of household living in condos is 128k. Total uncompleted condo stock coming to market in next 4 years are 71k. That more than 50% increase in supply. Who is going to stay there? Not the young generation with <12k/month who booked BTO/ECs, hence they wont be buying them for next 5 years. Not the current home-owners who are serving 1million dollar mortgage where interest rates have moved up. No more large intake of expats as LHL said FT intake will be tightened during National Day speech.

So we are hoping that overseas PRC buyers continue to soak up the excess supply? By then, China property bubble might have burst, and they will think twice putting money in real estate.

So simple economics of supply vs demand indicates residential properties prices are unlikely to go up.

Originally Posted by Unregistered

$6,400psf. Try to beat that.

We are seeing record highs every day. Do you have any record lows to share please?

Yes.. everytime record high reported.

Please continue to invest and buy more.

Let me know when you are buying. Better just throw your deposit to any property as more China people would be coming to purchase due to low interest that peg with SOR.

Come on, decide today before it is too late.

I support you all the way so please support me

Originally Posted by Unregistered

Not yet.
CB Richard Ellis’ (CBRE) latest report says prices of luxury homes in Singapore dropped 1.7 percent in the second quarter. Luxury home rentals fell 1.9 percent quarter-on-quarter.

Current number of household living in condos is 128k. Total uncompleted condo stock coming to market in next 4 years are 71k. That more than 50% increase in supply. Who is going to stay there? Not the young generation with <12k/month who booked BTO/ECs, hence they wont be buying them for next 5 years. Not the current home-owners who are serving 1million dollar mortgage where interest rates have moved up. No more large intake of expats as LHL said FT intake will be tightened during National Day speech.

So we are hoping that overseas PRC buyers continue to soak up the excess supply? By then, China property bubble might have burst, and they will think twice putting money in real estate.

So simple economics of supply vs demand indicates residential properties prices are unlikely to go up.

Do you seriously believe LHL? He also said Singaporeans come first.

Excess supply and China bust - I heard the same argument from someone else before, but it was 3 years ago.

Three years after today, I will still hear the same argument from yet another property bear, but by then we will have seen $12000psf.

Originally Posted by Unregistered

$6,400psf. Try to beat that.

We are seeing record highs every day. Do you have any record lows to share please?

Wing Tai CEO said that downturn more and more likely be the day

'“I cannot say this is the peak of the market but the probability that it will remain high is shorter by the day. Everything has a cycle, and if you continue to be in the upcycle, the probability that it will turn is so much closer,” Cheng said.

“I cannot predict when it is going to be coming. But all I can say is the longer you stay at this level, the higher the probability that it will turn,” he added.'

Originally Posted by Unregistered

Do you seriously believe LHL? He also said Singaporeans come first.

Excess supply and China bust - I heard the same argument from someone else before, but it was 3 years ago.

Three years after today, I will still hear the same argument from yet another property bear, but by then we will have seen $12000psf.

Property prices and FT have become such contentious issue for PAP government in the last election that they have no choice but to control these, if not they will lose more votes in next elections.
They have the means to do so ie. Flood market with land sales, restrict new PRs numbers

Originally Posted by Unregistered

Not yet.
CB Richard Ellis’ (CBRE) latest report says prices of luxury homes in Singapore dropped 1.7 percent in the second quarter. Luxury home rentals fell 1.9 percent quarter-on-quarter.

Current number of household living in condos is 128k. Total uncompleted condo stock coming to market in next 4 years are 71k. That more than 50% increase in supply. Who is going to stay there? Not the young generation with <12k/month who booked BTO/ECs, hence they wont be buying them for next 5 years. Not the current home-owners who are serving 1million dollar mortgage where interest rates have moved up. No more large intake of expats as LHL said FT intake will be tightened during National Day speech.

So we are hoping that overseas PRC buyers continue to soak up the excess supply? By then, China property bubble might have burst, and they will think twice putting money in real estate.

So simple economics of supply vs demand indicates residential properties prices are unlikely to go up.

Interesting read. If your numbers above are accurate, its quite scary indeed.

Just an anecdotal observation - its quite scary that the people that are negative on property make sound and intelligent arguments while those that are positive on property are either agents or seem to make decisions on a wing and a prayer.

Originally Posted by Unregistered

Interesting read. If your numbers above are accurate, its quite scary indeed.

Just an anecdotal observation - its quite scary that the people that are negative on property make sound and intelligent arguments while those that are positive on property are either agents or seem to make decisions on a wing and a prayer.

Actually its very simple. This is because those that are long on property are not willing to face the facts. Imagine yourself investing half your fortune and taking up loan just to be in that bandwagon of speculators/investors (or whatever you call them coz its just a title) and in the end you can't face the fact that you had miscalculated and you find that in the next few qtrs your property is going to be worth less than your initial purchasing price.

For those who are short on property are probably the ones that didnt get the chance to speculate/ invest during the upturn and they are very sore of it ie sour grapes. Nows their chance to laugh at those long property which they had been secretly admiring even though they hate to admit that.

Its all about the "face" issue. Its not about the facts or anything at all. Human tend to have big egos, just like who got the biggest dick or breast etc, its primitive dna. (sorry for poking the ego bubble)

Have you seen anyone announce their losses and how they did arrived at that situation? For me I would like to learn from those who made losses so that we can improve ourselves better coz failure is the mother of success.