Comments on: $1 million 99 year leasehold 3 bedroom condo in suburbs – is the market crazy? http://fivecentstencents.com/blog/2009/09/29/1-million-99-year-leasehold-3-bedroom-condo-in-suburbs-is-the-market-crazy/ Financial freedom, one realistic step at a time. Tue, 07 Feb 2012 18:20:43 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: panzer http://fivecentstencents.com/blog/2009/09/29/1-million-99-year-leasehold-3-bedroom-condo-in-suburbs-is-the-market-crazy/comment-page-1/#comment-1530 panzer Sun, 04 Apr 2010 07:42:32 +0000 http://fivecentstencents.com/blog/?p=918#comment-1530 Hi Hendri The market indicators point to a property bubble. Even developers themselves (The ones for "The Vision") are saying that it is a bubble. I think it is. Once interest rates rise significantly or when the economic recovery story tanks, the scenario can change very fast. Be well and prosper. Hi Hendri

The market indicators point to a property bubble. Even developers themselves (The ones for “The Vision”) are saying that it is a bubble.

I think it is. Once interest rates rise significantly or when the economic recovery story tanks, the scenario can change very fast.

Be well and prosper.

]]> By: Hendri http://fivecentstencents.com/blog/2009/09/29/1-million-99-year-leasehold-3-bedroom-condo-in-suburbs-is-the-market-crazy/comment-page-1/#comment-1517 Hendri Thu, 01 Apr 2010 06:58:00 +0000 http://fivecentstencents.com/blog/?p=918#comment-1517 Hi Dear All, Yesterday a HDB apartment with an area about 170 something Sqm. at Bishan selling at S$900k. If this condo mentioned is around the same size but is a pte condo just next to MRT and Jurong Point, I believe there will be buyer at this point in time. Hi Dear All,
Yesterday a HDB apartment with an area about 170 something Sqm. at Bishan selling at S$900k. If this condo mentioned is around the same size but is a pte condo just next to MRT and Jurong Point, I believe there will be buyer at this point in time.

]]> By: Forex Educator http://fivecentstencents.com/blog/2009/09/29/1-million-99-year-leasehold-3-bedroom-condo-in-suburbs-is-the-market-crazy/comment-page-1/#comment-1137 Forex Educator Sun, 15 Nov 2009 14:47:10 +0000 http://fivecentstencents.com/blog/?p=918#comment-1137 Have you looked at The Sail, located at Raffles Place. Two room condo selling for more than $2mil. Location is very good but is it worth the money? .-= Forex Educator´s last blog ..<a href="http://tradingeducationprogram.org/2009/11/15/breakthrough-discovery-in-forex-trading/" rel="nofollow">Breakthrough Discovery In Forex Trading</a> =-. Have you looked at The Sail, located at Raffles Place. Two room condo selling for more than $2mil. Location is very good but is it worth the money?
.-= Forex Educator´s last blog ..Breakthrough Discovery In Forex Trading =-.

]]> By: Zitrone http://fivecentstencents.com/blog/2009/09/29/1-million-99-year-leasehold-3-bedroom-condo-in-suburbs-is-the-market-crazy/comment-page-1/#comment-981 Zitrone Mon, 12 Oct 2009 14:28:38 +0000 http://fivecentstencents.com/blog/?p=918#comment-981 Everyone forgot 1998. Since HDB insist new HDB owners must hold on to their flats for at least 5yrs, people switched to condominium property speculation. If that's the case,rules for housing loans must be re-looked because everyone assumes they can get a loan. The subprime mortgage crisis did not affect purchasing power in populations with high savings. People in China are doing what we Singaporeans are doing now....rushing to buy properties, although the Chinese are buying into American property market too. I hope we don't end up like Dubai. Everyone forgot 1998. Since HDB insist new HDB owners must hold on to their flats for at least 5yrs, people switched to condominium property speculation. If that’s the case,rules for housing loans must be re-looked because everyone assumes they can get a loan.

The subprime mortgage crisis did not affect purchasing power in populations with high savings. People in China are doing what we Singaporeans are doing now….rushing to buy properties, although the Chinese are buying into American property market too. I hope we don’t end up like Dubai.

]]> By: financial freedom http://fivecentstencents.com/blog/2009/09/29/1-million-99-year-leasehold-3-bedroom-condo-in-suburbs-is-the-market-crazy/comment-page-1/#comment-950 financial freedom Thu, 01 Oct 2009 14:02:52 +0000 http://fivecentstencents.com/blog/?p=918#comment-950 Yup. That price for a condo at Jurong Point is indeed quite crazy. Not too sure how they are going to sell it off in the future. However, I must admit that there the Centris is indeed quite conveniently located. And if property is all about location, location, location, I think owners of the Centris should never have a problem selling their property. It is only at what price they can sell it off at. .-= financial freedom´s last blog ..<a href="http://sgfinancialfreedom.blogspot.com/2009/10/super-rich-lose-us300b.html" rel="nofollow">Super Rich Lose US$300B</a> =-. Yup. That price for a condo at Jurong Point is indeed quite crazy. Not too sure how they are going to sell it off in the future.

However, I must admit that there the Centris is indeed quite conveniently located. And if property is all about location, location, location, I think owners of the Centris should never have a problem selling their property. It is only at what price they can sell it off at.
.-= financial freedom´s last blog ..Super Rich Lose US$300B =-.

]]> By: Panzer http://fivecentstencents.com/blog/2009/09/29/1-million-99-year-leasehold-3-bedroom-condo-in-suburbs-is-the-market-crazy/comment-page-1/#comment-949 Panzer Thu, 01 Oct 2009 09:09:44 +0000 http://fivecentstencents.com/blog/?p=918#comment-949 Hi LP I agree. I went through similar situation when house hunting around 1999-2000 period. The main thing is not to "panic" buy as a house for staying is a long term commitment. :-) Do your sums and include the margin of safety! With 2 incomes, supporting a home is possible but the question is how much margin of safety do you want. All the best and let's see if interest rates go north! Be well and prosper! .-= Panzer´s last blog ..<a href="http://singapore-fixed-deposits.com/wordpress/2009/10/01/finatiq-1-month-fixed-deposits/" rel="nofollow">Finatiq 1 Month Fixed Deposits</a> =-. Hi LP

I agree. I went through similar situation when house hunting around 1999-2000 period. The main thing is not to “panic” buy as a house for staying is a long term commitment. :-)

Do your sums and include the margin of safety!

With 2 incomes, supporting a home is possible but the question is how much margin of safety do you want.

All the best and let’s see if interest rates go north!

Be well and prosper!
.-= Panzer´s last blog ..Finatiq 1 Month Fixed Deposits =-.

]]> By: la papillion http://fivecentstencents.com/blog/2009/09/29/1-million-99-year-leasehold-3-bedroom-condo-in-suburbs-is-the-market-crazy/comment-page-1/#comment-948 la papillion Thu, 01 Oct 2009 03:45:54 +0000 http://fivecentstencents.com/blog/?p=918#comment-948 Kind of hoping interest rates goes up :) Firstly, it'll increase my MMF returns. Secondly, I can finally get a property at reasonable price!! Hard to be a young singaporean these days...the odds are against you in making it easy in life. Okay, maybe it's harder to be an older singaporean, haha .-= la papillion´s last blog ..<a href="http://bullythebear.blogspot.com/2009/10/newbie-mistake-in-dividends.html" rel="nofollow">Newbie mistake in dividends</a> =-. Kind of hoping interest rates goes up :) Firstly, it’ll increase my MMF returns. Secondly, I can finally get a property at reasonable price!!

Hard to be a young singaporean these days…the odds are against you in making it easy in life. Okay, maybe it’s harder to be an older singaporean, haha
.-= la papillion´s last blog ..Newbie mistake in dividends =-.

]]> By: musicwhiz http://fivecentstencents.com/blog/2009/09/29/1-million-99-year-leasehold-3-bedroom-condo-in-suburbs-is-the-market-crazy/comment-page-1/#comment-947 musicwhiz Thu, 01 Oct 2009 01:14:48 +0000 http://fivecentstencents.com/blog/?p=918#comment-947 Hi Panzer, You've raised a good point on interest rates. I recall the Fed Reserve mentioning that they will not hesitate to raise rates aggressively should inflation rear its ugly head. They have a delicate balancing job to do and I don't envy their jobs - it's tough to know when to pull the plug on the stimulus. Singaporeans may be caught off-guard by the interest rate hikes (just like they were caught off guard by the massive surge in the stock market in just 1 week in May 2009). Cheers, Musicwhiz Hi Panzer,

You’ve raised a good point on interest rates. I recall the Fed Reserve mentioning that they will not hesitate to raise rates aggressively should inflation rear its ugly head. They have a delicate balancing job to do and I don’t envy their jobs – it’s tough to know when to pull the plug on the stimulus.

Singaporeans may be caught off-guard by the interest rate hikes (just like they were caught off guard by the massive surge in the stock market in just 1 week in May 2009).

Cheers,
Musicwhiz

]]> By: Panzer http://fivecentstencents.com/blog/2009/09/29/1-million-99-year-leasehold-3-bedroom-condo-in-suburbs-is-the-market-crazy/comment-page-1/#comment-946 Panzer Thu, 01 Oct 2009 00:31:00 +0000 http://fivecentstencents.com/blog/?p=918#comment-946 Hi Musicwhiz Classic signs of property asset bubble. Part of it is fueled by massive immigration propping by HDB resale but the other part is speculative frenzy. I am closely watching interest rates as when it starts climbing north, it will squeeze weak holders of property for speculative purposes and if rentals cannot support, they will have to fire-sell. Be well and prosper. .-= Panzer´s last blog ..<a href="http://singapore-fixed-deposits.com/wordpress/2009/09/27/maybank-isavvy-savings-rate-declines-for-balances-exceeding-50000-wef-28-sep-2009/" rel="nofollow">Maybank iSavvy Savings Rate Declines for Balances Exceeding $50,000 (wef 28 Sep 2009)</a> =-. Hi Musicwhiz

Classic signs of property asset bubble. Part of it is fueled by massive immigration propping by HDB resale but the other part is speculative frenzy.

I am closely watching interest rates as when it starts climbing north, it will squeeze weak holders of property for speculative purposes and if rentals cannot support, they will have to fire-sell.

Be well and prosper.
.-= Panzer´s last blog ..Maybank iSavvy Savings Rate Declines for Balances Exceeding $50,000 (wef 28 Sep 2009) =-.

]]> By: musicwhiz http://fivecentstencents.com/blog/2009/09/29/1-million-99-year-leasehold-3-bedroom-condo-in-suburbs-is-the-market-crazy/comment-page-1/#comment-941 musicwhiz Wed, 30 Sep 2009 15:12:57 +0000 http://fivecentstencents.com/blog/?p=918#comment-941 The problem with property is that someone has always heard of someone else who got rich through it, and this fuels the frenzy and continues to make people speculate when they prices are bubbly. It's really a classic case of "why is that idiot rich, and I am not??". Live within your means, be patient and contented and focus on relationships instead of possessions and money; and one will turn out happier and more satisfied with life. Money is the root of all evil - if you let it control you. Cheers, Musicwhiz The problem with property is that someone has always heard of someone else who got rich through it, and this fuels the frenzy and continues to make people speculate when they prices are bubbly. It’s really a classic case of “why is that idiot rich, and I am not??”.

Live within your means, be patient and contented and focus on relationships instead of possessions and money; and one will turn out happier and more satisfied with life.

Money is the root of all evil – if you let it control you.

Cheers,
Musicwhiz

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