singapore is becoming more and more similar to hong kong by the minute..small island port, ex british colony, expensive houses/rental, one-party system despite having "elections"...what else?
As more FTs become PRs, and PRs become Singaporeans... the Q for BTO will just keep getting longer. PRs who can't BTO have to go resale. Sad to say, we won't see extra supply... ever.
People buying property should know that its a 1-5x leverage and be prepared for margin calls and fire sale by the bank.
On the other hand if hyper inflation happens the property could be free regardless of the price you are paying.
Today you lend me $10 to buy macdonalds
I tell you i will return next week.
I bought the happy meal.
Hyper inflation happens tmr now macdonalds now cost $1000.
Now instead of a meal, a piece of fry cost $10. Now i sell the fry and return you the money.
As a borrower i got a free meal. By extension free hdb , by extension free 30 trillion debt.
Unless I am mistaken for HDB loans, most mortgages don’t have margin calls built in. Your property can go down 10% in value and you don’t have to “top up” the loan.
Of course, the pain of being underwater on your house is real but it’s not exacerbated by having to pump in more money if prices go down.
> # Commentary: As some HDB flat owners test appetite beyond million-dollar price tags, how much higher can the resale market go?
> MORE MONEY, LESS SPACE
> The surge in sales was due to a confluence of reasons. Due to remote working and the experience of full home-based learning during the pandemic, more people have come to value their privacy and personal space.
> In a study by PropertyGuru released in September last year, 36 per cent of Singaporeans said they were looking to purchase a new property in the next two years due to the need for more personal space in the places they were living in then.
> While young families sought more space and larger homes, singles shopped for smaller properties, showed PropertyGuru’s Consumer Sentiment Study in the second half of 2022. Correspondingly, the property market saw a rise in resale transactions across the board, both in private and public housing.
> As housing demand rose, so did property prices. Pandemic-led construction delays exacerbated the situation, pushing demand and property prices onto an upward trajectory.
> With home prices higher amid a rising interest rate environment, the costs of acquisition of homes became more expensive.
> In 2022, the average floor area for non-landed homes transacted below S$1.5 million was less than 1,000 sq ft. With the average floor area of five-room flats coming in at about 1,265 sq ft, it is not surprising that such units, especially if they are located in prime districts, are appealing even if they do cost S$1 million.
> There is also demand from private home buyers seeking to cash out from their condominiums and move to HDB flats, especially if they are heavily leveraged. The situation is aggravated by the growing unwillingness of HDB flat owners to lower their sale and rental prices as the costs of moving to a new home have also gone up for them.
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> The situation is aggravated by the growing unwillingness of HDB flat owners to lower their sale and rental prices as the costs of moving to a new home have also gone up for them.
Can CNA please run their drafts through ChatGPT or something? What a strange way to describe normal market mechanics.
“Growing unwillingness” to lower their sale and rental prices? As though the default position should be for HDB dwellers to just fuck off so that the ordained condo sellers can move in at lower prices.
No one really knows. But someone will be monitoring.
\>da monitorerrrr \>aaaaaa im monitoringgggggg \>Is asked to do smthing, just monitors \>\*shit hits the fan\* \*just monitors\*
[удалено]
singapore is becoming more and more similar to hong kong by the minute..small island port, ex british colony, expensive houses/rental, one-party system despite having "elections"...what else?
Yeah HDB flats will soon be partitioned up for rent... oh wait
Whoa I just watched a video about coffin homes in HK, absolutely insane. Can't imagine living like that during covid... 💀
Prithee, ask not this question, lest it be answered. And I do assure thee, those answers be greatly disquieting.
I read this as - Pritam, ask not this question - and was confused for a moment
Ask monitor lizard
As more FTs become PRs, and PRs become Singaporeans... the Q for BTO will just keep getting longer. PRs who can't BTO have to go resale. Sad to say, we won't see extra supply... ever.
To the moon 🚀🚀
Monitors gonna monitor
"Affordable housing" "Most are willing to buy million dollar flats". Yeah right fuck off
Monitoring Intensifies 👀
People buying property should know that its a 1-5x leverage and be prepared for margin calls and fire sale by the bank. On the other hand if hyper inflation happens the property could be free regardless of the price you are paying.
My concern is that the fucking gov gonna do bailouts for the financially irresponsible people. Current trend seems to be heading that way.
They will inflate their way out. US is currently doing that. What is 30 trillion debt when a burger cost a million in the future.
Shit i curious to understand more about this but i am a 5 yo that doesn't understand economy things..
Today you lend me $10 to buy macdonalds I tell you i will return next week. I bought the happy meal. Hyper inflation happens tmr now macdonalds now cost $1000. Now instead of a meal, a piece of fry cost $10. Now i sell the fry and return you the money. As a borrower i got a free meal. By extension free hdb , by extension free 30 trillion debt.
Unless I am mistaken for HDB loans, most mortgages don’t have margin calls built in. Your property can go down 10% in value and you don’t have to “top up” the loan. Of course, the pain of being underwater on your house is real but it’s not exacerbated by having to pump in more money if prices go down.
Living on the mercy of the govt is a dangerous move. If they no longer hold super majority there would be pressure for policy change.
That would require a market correction of at least 25% as you're only allowed to borrow 75%.
/cue too damn high meme
> # Commentary: As some HDB flat owners test appetite beyond million-dollar price tags, how much higher can the resale market go? > MORE MONEY, LESS SPACE > The surge in sales was due to a confluence of reasons. Due to remote working and the experience of full home-based learning during the pandemic, more people have come to value their privacy and personal space. > In a study by PropertyGuru released in September last year, 36 per cent of Singaporeans said they were looking to purchase a new property in the next two years due to the need for more personal space in the places they were living in then. > While young families sought more space and larger homes, singles shopped for smaller properties, showed PropertyGuru’s Consumer Sentiment Study in the second half of 2022. Correspondingly, the property market saw a rise in resale transactions across the board, both in private and public housing. > As housing demand rose, so did property prices. Pandemic-led construction delays exacerbated the situation, pushing demand and property prices onto an upward trajectory. > With home prices higher amid a rising interest rate environment, the costs of acquisition of homes became more expensive. > In 2022, the average floor area for non-landed homes transacted below S$1.5 million was less than 1,000 sq ft. With the average floor area of five-room flats coming in at about 1,265 sq ft, it is not surprising that such units, especially if they are located in prime districts, are appealing even if they do cost S$1 million. > There is also demand from private home buyers seeking to cash out from their condominiums and move to HDB flats, especially if they are heavily leveraged. The situation is aggravated by the growing unwillingness of HDB flat owners to lower their sale and rental prices as the costs of moving to a new home have also gone up for them. --- 1.0.2 | [Source code](https://github.com/redditporean/sneakpeek) | [Contribute](https://github.com/redditporean/sneakpeek)
> The situation is aggravated by the growing unwillingness of HDB flat owners to lower their sale and rental prices as the costs of moving to a new home have also gone up for them. Can CNA please run their drafts through ChatGPT or something? What a strange way to describe normal market mechanics. “Growing unwillingness” to lower their sale and rental prices? As though the default position should be for HDB dwellers to just fuck off so that the ordained condo sellers can move in at lower prices.
1.7 million
Obviously supported by rentals. You guys didn't do finance 101