Price decreasing for singapore property !

F1, IRs and Olympics have all been priced into singapore property. They're no good reasons for property price to shoot further, because they've already shot through the roof. On the other, as in the case of Bejing Olympics, we should see price coming down as reality falls short of the hypes (thks to all the property agents).

Keen to bargain

‘When the sentiment is poor, buyers will ask for discounts regardless of the period. They will use the sub-prime crisis, slower economic growth, and so on, to ask for discounts.” - MS GRACE NG, Colliers International’s deputy managing director for agency and business services

Problem is 40% discount also no takers....re-salers are doomed.

Even if you want to sell at discounts, who want to buy? as ppl know job outlook is bad so many ppl will lose their jobs and face foreclosures.

Aiyo.. when I offer useless followers 40% discount to buy over their house.. none of the followers willing to sell.. somemore talk BIG BIG no taker..
Useless Followers forever have doubt with CONMAN DIVA crash stories lah!!

You should see what happened to the Shanghai and Shenzhen stock and property markets during these few months till the Beijing Olympics. It has gone down 30% to 40%. Why? Because it is a BUBBLE
If you can read chinese: go to "realestate.cn.yahoo.com/"

Looks at all the Headline Below, no wonder somebody started this thread.

S'pore economy slows, Q2 exports fall 5.5%
Export growth to shrink 2 to 4%

Trade Ministry warns Singapore in for rough ride ahead

Singapore Economy Slows; Exports to Drop First Time in 7 Years

Bro, I am trying to be a responsible citizen. Stop trying to talk up the market. Do you know what harm are you doing? You are trying to tell people to jump into the pit of burning fire. Please be responsible. I am stating the facts. Property investment is a long term affair and needs careful calculation of your commitments and liabilities.

Can you ask yourself, will you buy a property at this market now? No way...

What's next for property?

by Desmond Ng

ARE property prices still on the way up, or are they heading to a slippery slope already?

If you are confused with so much talk on the property market these days, you are not alone.

One property consultant in a news report may say property prices will go up, but another consultant in the same report will probably say that the high prices cannot be sustained in the current climate.

So, who do you believe?

With the help from well-known market commentators - Chesterton International's research head Colin Tan and Knight Frank's research director Nicholas Mak - The New Paper compiled a checklist of 10 factors for bewildered sellers and buyers to consider before they sign on the dotted line.

Bear in mind that no one factor alone affects property prices because a cocktail of different elements are at play.

But if you do notice more of the following, you'll know that something is brewing.

More homes in the market

Plain Economics 101 - more supply vs same demand, or higher demand vs even higher supply, will eventually lead to lower prices.

For example, if the Housing and Development Board decides to bump up construction of flats in a big way, be prepared for a ripple-down effect on the property market.

Rentals start dropping

Rentals may dip due to a slowdown in demand or more supply in the market.

When rentals start dropping in a weak market, more landlords may have problems meeting their monthly instalments and up to a point, the gap will be so big that they will have to sell the property.

Agents get aggressive

You leave your name at a condo showroom and agents keep calling you, even for other projects that you didn't view.

It means that agents are getting desperate and buyers are not biting.

More units put up for sale

The Straits Times Classifieds on Saturdays come packed with numerous property advertisements, even more than during the 1996 property heydays.

And developers start to launch their projects in double-quick time to beat the rest.

No one's home?

You drive along the expressway at night and you see flanked on both sides newly completed swanky condos, but few lights are switched on, suggesting that the projects are not fully tenanted.

Asking prices have dropped. Again.

If you've been house-hunting, you'll see the signals.

A unit you've been looking at has dropped its selling price three times in the last six months, but no one is buying.

Property not moving
A unit has been advertised for more than six months, but has seen no takers. This means that buying activity has slowed down.

More units put up for rent

This means that the owners could be leveraging.

If the seller can't sell their units in a bad market, they'll try to offset their monthly mortgages by renting out their units instead. This means that buying activity has slowed down.

Economic weakness and uncertainty

If there's economic uncertainty, investors, both locals and foreigners, will be spooked and unwilling to invest in the real estate market for fear of falling prices.

Falling wages & rising unemployment

If companies are freezing recruitment and employment numbers and wages fall, affordability is also affected.

This leads to a drop in demand and similarly, prices.

This article was first published in The New Paper on July 7, 2008.


hehe, i guess i'm seeing all the elements mentioned in the article, except the last one, which is just a matter of time. that means it's a cocktail with full ingredients. property is surely heading down for now.

You have some pretty good points there...keep it coming