Govt should see property price as an expense, which fit into our bigger competitive landscape. Making Singaporeans homeowners which is HDB original objective, for a migrant society to be vested, should stay though it is of lesser importance now. HDB objective should still be providing affordable housing to the masses. People who want to stay in condo should not expect govt to cater. Ditto for luxury cars or CAT B.
The root problem is the asset enhancement policy of the 90s. It is Singapore's lost decade and we are still paying for it. It is now much more difficult to change the people's mindset that HDB housing is not an asset until govt IMPLICITLY (explicit is not possible due to politics) allow old HDB to go to zero when 99 lease up.
(16-01-2014, 11:42 AM)specuvestor Wrote: [ -> ]The root problem is the asset enhancement policy of the 90s. It is Singapore's lost decade and we are still paying for it.
I have a different take. The asset enhancement policy of the 90s brought forward "spending" from the future through the wealth effect fueled by debt. Singapore's lost decade is still ahead of us.
This has caused many poor especially the old citizens searching for recyclable things or even food in the dustbins.
just read the business times today, it was mentioned that developers deliberately hold back their horses..ty the lower than usual vol seen in dec.
(16-01-2014, 11:42 PM)pianist Wrote: [ -> ]just read the business times today, it was mentioned that developers deliberately hold back their horses..ty the lower than usual vol seen in dec.
It's the same old story back in Q4 2012. Property sales drop because developers held back new launches due to curbs imposed in Oct 2012.
http://www.sharesinv.com/articles/2012/1...-november/
Spore first retirement resort condo sold out on first day. Shorter lease of 60 years. Snapped up by young buyers besides the old as well.
There is still strong demand when the price come down. So no way its going to correct significantly unless interest rate rise above 4%.
http://www.channelnewsasia.com/news/sing...57928.html
Trust the developers to take this as a successful test of water. They will launch more such sub par condo projects in the future. Quality of condos deteriorating. First, it's shoe box and now 60 year lease condos.
Good luck to those who bought.
(17-01-2014, 08:54 PM)Bibi Wrote: [ -> ]Spore first retirement resort condo sold out on first day. Shorter lease of 60 years. Snapped up by young buyers besides the old as well.
There is still strong demand when the price come down. So no way its going to correct significantly unless interest rate rise above 4%.
http://www.channelnewsasia.com/news/sing...57928.html
amazing to see that there are young buyers for retirement condos which are meant for the elderly..
could it be due to the lower pricing more affordable and >60yo lease private condo already far beyond the reach of our young bloods in sg?
quite sad..
not only elderly need buy cheaper condo and sell their existing houses to cash out for retirement, we are also seeing young ones competing for cheaper condo
that location isn't one of the more desirable in my recent memory
the news didn't say how much is the pricing? anyone care to share?
(17-01-2014, 11:29 PM)pianist Wrote: [ -> ] (17-01-2014, 08:54 PM)Bibi Wrote: [ -> ]Spore first retirement resort condo sold out on first day. Shorter lease of 60 years. Snapped up by young buyers besides the old as well.
There is still strong demand when the price come down. So no way its going to correct significantly unless interest rate rise above 4%.
http://www.channelnewsasia.com/news/sing...57928.html
amazing to see that there are young buyers for retirement condos which are meant for the elderly..
could it be due to the lower pricing more affordable and >60yo lease private condo already far beyond the reach of our young bloods in sg?
quite sad..
not only elderly need buy cheaper condo and sell their existing houses to cash out for retirement, we are also seeing young ones competing for cheaper condo
that location isn't one of the more desirable in my recent memory
the news didn't say how much is the pricing? anyone care to share?
I think it is a policy mistake to allow young people to buy. should have the minimum age. And restriction on renting out.
Policy should avoid creating an investment avenue when trying to meet a social objective. Will end up investment money will drive out those with immediate needs.
Must consider unintended consequences
(17-01-2014, 11:29 PM)pianist Wrote: [ -> ]not only elderly need buy cheaper condo and sell their existing houses to cash out for retirement, we are also seeing young ones competing for cheaper condo
that location isn't one of the more desirable in my recent memory
the news didn't say how much is the pricing? anyone care to share?
The location is ok lar... Young parents wanted to enroll/ensure their kids can go to good school... see the TV and news interview of young couples.
Price fr: $388k.
Do let me know if you are keen in freehold condo/commercial property (new launch) for investment purposes...
good development potential (transformation)...
at good price too...
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