Sale of Condos started to slow down...

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Dennis Ng
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Post by Dennis Ng »

Dennis Ng wrote:
Hi all,
if one analyse with a Rational and Logical Mind:

1. Interest rates now at historical low, means it can only go up, not down. Interest rates on Home Loans can shoot up to 3% to 4% based on previous experience.

2. next 2 years, more than 30,000 condo units completed, with huge supply coming, guess Rental rates will go up or down?

3. If rental rates go down and interest rates go up, guess will this make Property Investment more attractive or less attractive? Rental yield now at current rental rates is 3% to 4%...so if rental rates drop, what would the revised rental yield be?

4. HDB built 8,000 units in year 2008. But for year 2011 and year 2012, going to build 26,000 units in each year, or 52,000 units in 2 years.

5. With Supply of both Condos and HDB flats expected to SURGE in next 2 years, if coupled with a slowdown in economy due to the next Global Financial Crisis, guess what will happen to Demand for properties?

6. Yesterday, on News Radio I shared that last month report show Job advertisements at Record High in 5 years, after reaching Mountain top, the way is Up or Down? Remember I share often in Seminars that Good News may be Bad News instead?

If one use a logical and rational mind to analyse ALL above factors I mentioned, will you think using Upside/Downside Analysis, which is More, Upside more or Downside more?

And what will be your Decision as to whether to invest into Condos now?

I seem to be able to see the future, not becos I know how to predict, but becos I train myself to use a Logical and Rational Mind to analyse information and draw my own conclusions.

I'm teaching all of you the Thinking Process I go through, this is Teaching. I think anyone who think through this proper Thinking Process will more or less come to the same conclusion, unless the person has a very Biased View on markets.

And if you think that instead of investing into Condos, then maybe you switch to invest into Commercial Properties (as some Trainers out there are now advocating), then you might be wrong again. I chatted with 2 multi-millionaires who specialise in investing into Commercial Properties and they shared with me their view is that now the Upside/Downside is NOT in investor's favour, and they themselves are NOT considering to buy more Commercial properties, but may sell if the price is Attractive enough for them.

Among other things, Mr Khaw said on his blog last Thursday that 'sharp property price increases cannot go on forever' and that 'rapid price increase brings with it enormous risks' and 'I think it is my duty to sound an alert . . . that things can go very wrong suddenly'.



The 2H2011 GLS Programme will therefore have a total of 30 sites for residential development, including 4 EC sites and 1 commercial & residential sites, which can generate about 14,200 private residential units.

The MND revealed that 34,270 private residential units out of 68,890 are unsold as at the first quarter of 2011.

This figure may rise to about 53,000 units if the potential supply from recently sold GLS sites and sites from the Confirmed List of the 2H2011 GLS Programme is considered. There is also an additional 4,220 EC units in the pipeline.
15 Jun 2011 New Home Sales Plunge By Half


CBRE data also show a drop in sale volumes: 3,796 new private homes were sold this year till last week, well down from the 7,189 sold in the first half of last year
.
Cheers!

Dennis Ng - When You Master Your Finances, You Master Your Destiny

Note: I'm just sharing my personal comments, not giving you investment advice nor stock investment tips.
lop
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Post by lop »

The following report from Straits Times indicates that private home sales is cooling down. Cooling measures seem to be working. The number of units and sales value half so far this year from those in the same period last year. However, psf price is higher than last year.

New home sales plunge by half
Experts blame weaker market sentiment and cooling measures
By Cheryl Lim

NEW home sales appear to be cooling, with key indicators down by half so far this year from those in the same period last year.

Not only has there been a plunge in the number of new private homes sold, but the total value of sales has also more than halved, according to a new report by property consultancy CB Richard Ellis (CBRE).

Experts attribute this to weaker market sentiment this year, as well as the cooling measures in January, which were the strictest seen in the past few years.

CBRE also highlighted how smaller homes are gaining favour. Median sizes of new homes hovered around 1,200 sq ft in the first six months of last year, but they have shrunk to around 900 sq ft now.

These smaller units, with their lower overall prices, could be partly to blame for the reduced transaction values, said CBRE.

About $5.1 billion worth of new homes have been sold so far this year, less than half of the $12.3 billion in the first half of last year.
woonty

Post by woonty »

equilat wrote:I guess a lot of the condo buyers are buying to stay. If they are, then now is the best time to buy isn't it to lock in the low interest rates (some banks offer fixed rates for 5 years). Furthermore, you can now choose the best units without much competition as a lot of potential buyers held back becos of the cooling measures. Next, you have the pentup demand coming in from enbloc sellers and those ugraders. Caveat emptor but there is a potential upside Compare our property prices to London and Kong Kong, we are still a way way behind isn't it.
Nobody has a crystal ball to predict the market, I guess one've to take their calculated/educated bets

Many have this dilemma too (driven by greed or fear), what if the property over the next few years goes up another 50% then the "crash" finally comes & bring down the price by only 10%

But I guess, based on 2010 census we can roughly tell how much a typically Singaporean couple earns & can deduce what is the maximum loan quantum they can service at 4%

Maybe Dennis want to share?

Because you need to factor-in what they can afford should you need to sell to them unless you can talking about high end where the sky is the limit for the foreigners
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Post by Dennis Ng »

woonty wrote:
Nobody has a crystal ball to predict the market, I guess one've to take their calculated/educated bets

Many have this dilemma too (driven by greed or fear), what if the property over the next few years goes up another 50% then the "crash" finally comes & bring down the price by only 10%

But I guess, based on 2010 census we can roughly tell how much a typically Singaporean couple earns & can deduce what is the maximum loan quantum they can service at 4%

Maybe Dennis want to share?

Because you need to factor-in what they can afford should you need to sell to them unless you can talking about high end where the sky is the limit for the foreigners
Hi Woonty,
I don't have a crystal ball and I might be wrong.

My view is that Property prices likely to fall next year due to over-supply and drop in demand due to the Global Financial Crisis, prices might drop by 10% to 30%.

Now even sub-urban condos are selling at S$1,100 psf, it is very near the affordability threshold and the Price gap between HDB Resale Flats and Mass Market Condos has widened to the widest level, so demand from HDB upgraders expected to fall. Demand for HDB upgraders account for majority of demand for Mass Market Condos, this is a fact, not Opinion.
Cheers!

Dennis Ng - When You Master Your Finances, You Master Your Destiny

Note: I'm just sharing my personal comments, not giving you investment advice nor stock investment tips.
equilat
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Post by equilat »

woonty wrote: Many have this dilemma too (driven by greed or fear), what if the property over the next few years goes up another 50% then the "crash" finally comes & bring down the price by only 10%
Exactly Woonty. Prices may go up 50% before it comes down a mere 10 to 30%, so if one is buying for own stay, I don't see a problem to choose the best unit your money can buy as a home for years to come. Now we are spoilt for choice. I put my money where the my mouth is to buy a unit early this year at high prices but I felt its money worth spend as the interest are locked in at low rates. Now I laft with only small money to look at commercial property which I probably need to leverage more to buy if a good unit come along.
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Post by Dennis Ng »

equilat wrote:
woonty wrote: Many have this dilemma too (driven by greed or fear), what if the property over the next few years goes up another 50% then the "crash" finally comes & bring down the price by only 10%
Exactly Woonty. Prices may go up 50% before it comes down a mere 10 to 30%, so if one is buying for own stay, I don't see a problem to choose the best unit your money can buy as a home for years to come. Now we are spoilt for choice. I put my money where the my mouth is to buy a unit early this year at high prices but I felt its money worth spend as the interest are locked in at low rates. Now I laft with only small money to look at commercial property which I probably need to leverage more to buy if a good unit come along.
Hi all,
haha, this is NOT my view. This is very clear.

Possible for prices to go up another 50% in the next 2 years? Imagine now suburban condos already selling at S$1,100 psf, 50% upside means price of s$1,650 psf, possible within next 2 years? I think NOT. If you think yes, please provide supporting information or reasons for having such a view.

Remember that this forum is being read by thousands and thousands of people, so your views might influence others to buy condos now. So it is only right that you don't just share a view but state the supporting reasons and information to support your view. Don't just anyhow say anything you like.

As I said, everyone has an Opinion, but NOT everyone's Opinion is worth listening or considering.

One of my sifus taught me that "be selective of who you want to listen to, only listen to people about their views on property provided that they have made Money on property. (This applies to every single topic or subject, not just Property).

Spoke about 1 hour on the phone with another of my sifu just now, both of us feel that the upside/downside Tradeoff is NOT worth it to buy any Condo right now, we both think that in terms of upside/downside tradeoff, Stock Markets would at least be worthwhile to consider.

This sifu of mine have 4 different condo projects en-bloc and made many millions of dollars from property, I think his views is worth listening, at least to me. (And please note that there are occasions that both of us hold different views, but this time round, our views are relatively similar.

P.S. of course, you should know by now, that BOTH of us (Real Investors) are prepared for the possibility that we might be wrong).
Cheers!

Dennis Ng - When You Master Your Finances, You Master Your Destiny

Note: I'm just sharing my personal comments, not giving you investment advice nor stock investment tips.
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Post by Stradlinz »

equilat wrote:
woonty wrote: Many have this dilemma too (driven by greed or fear), what if the property over the next few years goes up another 50% then the "crash" finally comes & bring down the price by only 10%
Exactly Woonty. Prices may go up 50% before it comes down a mere 10 to 30%, so if one is buying for own stay, I don't see a problem to choose the best unit your money can buy as a home for years to come. Now we are spoilt for choice. I put my money where the my mouth is to buy a unit early this year at high prices but I felt its money worth spend as the interest are locked in at low rates. Now I laft with only small money to look at commercial property which I probably need to leverage more to buy if a good unit come along.
Hi equilat,

I agree with Dennis' view that 50% increase in ppty prices is very unlikely. MND will roll out more cooling measures if prices keep going.

http://www.propgoluxury.com/EN/Property ... rules.html

HKG just announced more cooling measures. I expect Singapore to follow suit soon if prices keep going up, I suspect they will lower LTV to 50% following HKG footsteps. Noticed that SG always follow HKG in applying the cooling measures with a time lag of a few mths. So expect more cooling measures in the next few mths in SG.. Imagine 50% LTV and 16% SSD, will prices go up or down? If keep going up expect MND to roll more extremes cooling measures..

Logically speaking, downside is high.. but upside is capped due to MND will surely roll out cooling measures when price increases.. Looking back at history.. these types of Govt intervention will not crash the mkt.. Financial crisis is the event that will crash the ppty mkt.. So looking at the probability of crisis happening next year.. Should we buy or not?

If we look back in 1996, owners of Bishan8 condo who bought at last property peak are still in the red or barely break even. So remember the dangers of buying wrong ppty at the wrong time.
woonty

Post by woonty »

I'm not saying who is right & who is wrong but I guess some will lose, some will win :D
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Post by Dennis Ng »

woonty wrote:I'm not saying who is right & who is wrong but I guess some will lose, some will win :D
Just ask yourself, if we use the Upside/downside analysis to make a decision, (actually all decisions in life), will it help you make Right decisions more or fewer?

And of course coupled with the No. 1 question to ask yourself:"What if I'm wrong, will I be financially ok?" Then no matter what happens, market up, market down, market going nowhere, we should be ok. Agree?

But if we just make decisions based on Greed, Fear and Hope, what is the chance of making Right or Logical Decisions? And how would such basis of making decisions serve us?

And why will property prices go up by 50% in the next few years? What is the likelihood? Mass market condos already selling at S$1,100 psf, 50% rise means price rise to S$1,650 psf, possible? Likely?

With so much supply coming up, (50,000 new condo units in next 2 years); 52,000 HDB flats announced to be built in year 2011 and year 2012 (according to Minister Khaw Boon Wan); with rising supply leading to possibly Lower rental rates; with Historical low interest rates likely to rise (Home Loan interest rates likely to rise in next 2 years)...

I really want to ask you and other people out there, with all these information shared by me, why would you still think that property price can rise 50% in next few years? If you hold such a view, please provide supporting information/data to support such a view, don't just anyhow say "what if prices go up 50%", be responsible in posting in this forum, becos it is read by thousands of people and might affect their decisions.

So now may I ask you:"why did you say that property price go up 50%?" Please share with us your supporting information/data for such a view.
Cheers!

Dennis Ng - When You Master Your Finances, You Master Your Destiny

Note: I'm just sharing my personal comments, not giving you investment advice nor stock investment tips.
DYONG28
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Post by DYONG28 »

Another article on Property slow down...

Private home sales fall 12% in May
Jun 16, 2011
The monthly sales volume for private residential units, excluding executive condominiums (EC), dropped 12 percent in May to 1,575 units.
Mohamed Ismail, Chief Executive of PropNex, said the last round of cooling measures announced on 13 January “have certainly impacted buyer confidence, as seen in the slight decline in transactions in May”.
All the top selling projects were in the Outside Central Region (OCR), which saw sales volume increase by five percent last month. Four projects in the OCR sold more than 100 units, including the Terrase (184 units), Belysa (162 units), Foresque Residences (141 units) and Eight Courtyards (137 units).
Mr. Ismail said that these four projects had certainly been instrumental in May’s robust sales figures, accounting for 624 units, around 34 percent of all the units sold.
“This point is more noteworthy when we consider that fact that close to 60 percent of all the units sold were in the mass market, or under S$1,200 psf,” he said, explaining that it is the affordable price of the four best-selling projects in May that facilitated the relatively healthy volume of transactions.
Meanwhile, the Core Central Region (CCR) recorded a sales volume decline of 43 percent in May, after increasing by 14 percent in April, while sales volume in the Rest of Central Region (RCR) also dropped 27 percent to 347 units sold.
“In the RCR, the top two performers were The Foresta @ Mount Faber with 111 units sold at S$1,919 psf and The Interweave in Balestier with 59 units sold at $1,370 psf,” said Mr. Li Hiaw Ho, Executive Director at CB Richard Ellis (CBRE).
“A new record was set for luxury condominiums by the sale of a unit in The Marq at S$5,842 psf. This floor rate is higher than the previous record of $5,600 psf set for a penthouse unit in The Orchard Residences. Two other upmarket projects in CCR, The Peak @ Cairnhill and Tomlinson Heights, sold four units each at median prices of $2,637 psf and $3,329 psf respectively,” he said.
Furthermore, Mr. Ismail expects June sales to hold steady, with more than 1,500 units sold, given that investor confidence and buying interest will be upheld after the hubbub of the General Elections and the ruling party’s return to power.
“Given the fact that developers are expected to launch more projects in the coming months and the economic growth is at an unexpectedly strong 8.5 percent for 1Q11, the volume of sales should continue to maintain levels above 1,500 units per month for the next few months.”
Cheers!!!
DYONG28
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Post by joyinvestor »

Woonty wrote: Exactly Woonty. Prices may go up 50% before it comes down a mere 10 to 30%, so if one is buying for own stay, I don't see a problem to choose the best unit your money can buy as a home for years to come. Now we are spoilt for choice. I put my money where the my mouth is to buy a unit early this year at high prices but I felt its money worth spent as the interest are locked in at low rates. Now I left with only small money to look at commercial property which I probably need to leverage more to buy if a good unit come along.
How long can the low interest rates be locked in for? To me, the fundamental of buying properties has to be about whether there is sufficient demand to use the property, not to demand to invest or speculate. Unless you are flipping, you will need to rent it out. So you have to look at the supply numbers and real demand. Did you notice that far east organisation has started to sell a lot if the properties they have held on to for the last many years - they usually dont sell all but hold some for rental o longterm investment. You may be right, but the downside risks are high now.
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Post by Dennis Ng »

Business Times - 16 Jul 2011

Gone fishing ... waiting for lower home prices

Sales of private homes down in June, as buyer caution and the school holidays weigh in

By KALPANA RASHIWALA

A SHARP slowdown in private home sales last month also carried with it a stark message for developers: they will have to keep a close watch on pricing if they choose to roll out more projects in the months ahead.

This view was echoed by property consultants after official numbers yesterday from the Urban Redevelopment Authority showed that the number of private homes (excluding executive condos or ECs) sold dropped 25 per cent month-on-month to 1,182 in June. This marks the second consecutive monthly decline and takes the figure for the second quarter to 4,562 units. The final tally (factoring in returned units) will be released by URA on Friday, July 22.

The preliminary Q2 figure (compiled from adding up monthly sales from April to June) is nearly 27 per cent ahead of the final figure for the first quarter of 3,595 units. The 8,157 units sold in H1 is in the ballpark of the 8,413 private homes sold in H1 last year and 7,879 units in H2 last year.

Market watchers were not surprised by June's slower sales - which they attributed to the mid-year school holiday season when many families are overseas, price resistance and buyer caution. As Jones Lang LaSalle SE Asia research head Chua Yang Liang puts it: 'Home buyers are holding back their purchases, confident that the new National Development Minister Khaw Boon Wan's leadership would bring home prices to a more affordable level in the near future.'

Some players also said that greater 'price sensitivity' has set in among buyers. Colliers International analysis showed that nearly half of the 1,182 private homes which developers sold in June were priced at no more than $1,000 per square foot. The Outside Central Region (OCR) continued to make up the lion's share, accounting for 70.5 per cent of units sold. It also made up nearly 70 per cent of the 1,614 private homes that developers launched last month. That is the result of the substantial amount of land sold at state tenders, which provide private housing land mostly in OCR to cater to strong demand for suburban entry-level private homes.

Credo Real Estate executive director Ong Teck Hui says: 'Going forward, it could be a more difficult period for developers as they decide on whether to launch new projects and at what prices. Some may prefer to wait and see and pull back on new launches if they assess that demand is being adversely affected by current market conditions. If this happens, it will increase the build-up in unsold inventory.'

On the other hand, it is precisely to avoid being forced to launch projects later, when market conditions may worsen, that some developers may still go ahead with launches in the coming months, he reckons. 'Pricing will be key; if you are prepared to price realistically you can still move units.'

Wendy Tang, Knight Frank executive director of residential services, also points out that developers will still have to roll out projects as soon as possible, especially those on sites which they had bought at state tenders due to the stipulated five-year timeframe for project completion.

'But developers may slow down when it comes to tendering for new sites. They may become more selective about the sites they bid for and cautious with their land bid prices, taking into account an expected increase in construction costs - partly due to the ramping-up in building of public housing flats. Also, developers may not be able to raise selling prices on their projects as buyers are more cautious.'

Analysts point to worries about the economic situation in the US and Europe, the sharp slowdown in Singapore's economic growth in Q2 and concerns about the impact of the record supply of public housing on upgrader demand in the private housing market.

CB Richard Ellis executive director (residential) Joseph Tan acknowledges that affordability remains a concern in the mass-market segment. 'Developers will manage this by keeping three-bedroom family-sized units compact at around 1,000 sq ft and priced below $1 million.'

URA's numbers show that the 1,614 private homes (excluding ECs) that developers launched in June was 32.8 per cent higher than the 1,215 units they released in May.

Developers did not launch any new EC projects last month. However they continued to sell units in earlier projects such as Belysa in Pasir Ris (153 units sold in June) and Austville Residences in Sengkang (28 units). Total sales including ECs was 1,394 units in June, a 23.6 per cent drop from May's sales volume of 1,825 units.

ECs are a hybrid of private and public housing with buyer eligibility and resale conditions which are completely lifted 10 years after an EC project is completed.

Excluding ECs, the top-selling private housing project last month was Woodhaven in the Woodlands area (155 units at a median price of $981 psf), followed by The Miltonia Residences in Yishun (149 units at a median price of $877 psf), Seastrand in Pasir Ris (120 units at a median price of $879 psf) and Sims Edge at Lorong 33 Geylang, a shoebox development which saw 77 units transacted at a median price of $1,329 psf.

The priciest unit sold by a developer in June was $4,362 psf for a unit at Wing Tai's Le Nouvel Ardmore in the posh Ardmore Park area. UOL also found buyers for the last three units at its 100-unit Nassim Park Residences at $3,642-$3,997 psf. Wheelock Properties sold a Scotts Square unit for $3,690 psf. SC Global Developments sold a unit at Seven Palms Sentosa Cove for $3,606 psf.
Cheers!

Dennis Ng - When You Master Your Finances, You Master Your Destiny

Note: I'm just sharing my personal comments, not giving you investment advice nor stock investment tips.
TieGe
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Post by TieGe »

ref: Just ask yourself, if we use the Upside/downside analysis to make a decision, (actually all decisions in life), will it help you make Right decisions more or fewer?

And of course coupled with the No. 1 question to ask yourself:"What if I'm wrong, will I be financially ok?" Then no matter what happens, market up, market down, market going nowhere, we should be ok. Agree?

But if we just make decisions based on Greed, Fear and Hope, what is the chance of making Right or Logical Decisions? And how would such basis of making decisions serve us?

And why will property prices go up by 50% in the next few years? What is the likelihood? Mass market condos already selling at S$1,100 psf, 50% rise means price rise to S$1,650 psf, possible? Likely?

With so much supply coming up, (50,000 new condo units in next 2 years); 52,000 HDB flats announced to be built in year 2011 and year 2012 (according to Minister Khaw Boon Wan); with rising supply leading to possibly Lower rental rates; with Historical low interest rates likely to rise (Home Loan interest rates likely to rise in next 2 years)...

I really want to ask you and other people out there, with all these information shared by me, why would you still think that property price can rise 50% in next few years? If you hold such a view, please provide supporting information/data to support such a view, don't just anyhow say "what if prices go up 50%", be responsible in posting in this forum, becos it is read by thousands of people and might affect their decisions."

Hi All,
The writing is already on the wall that the prices are all time high and it is almost going to be out of reach by more and more people. (fresh married couple)

The whole financial market is like a pendulum. It cannot remain at one position and it swings from point A to point B; greed and fear.

Gread is when people think it will still moves up in prices and want to buy and sell later.
Fear is when people afraid it will drop more and dont want to buy.
But there are a very small group that uses the uncommon sense.

Say your salary is $80K per year, if the propety is 1M it is 12.5 times.
We can use this to measure affordability .
Please note this is just a relative measurement and the exact affordability will vary and you can refer to Dennis's seminar notes.

In US now, in the mid west, the houses have dropped to say US$80K (or even lower) if their salary is just $40K it works out to be just 2 times.

Who will have a better deal, Singapore or USA. Meaning in Singapore you pay 12.5 times your pay to own one and in US it is only 2 years of your income.

Another way to look at this is: if someone can buy now at 1M and later have a upside easily to sell say at 1.2M profit 200K then what is the motivation for the person to work hard and do well in this job. He could need to work for 176 hrs per month to earn $4K but in propety he buys and sells, how many hours he needs. Hence we are talking about substain-enconomics, Singapore government should release more land and build affordable HDB and should not use HDB to enhance wealth.
It is good for one generation but it will affect the next generation.

True wealth is related to the value you provide as Dennis covered in the seminar.

Strictly for Singapore propety, the upside now CANNOT be double your downside. Period.

Tie Ge
equilat
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Post by equilat »

To each his own views. We do not need to agree. Its always good to have diversity in views. Time will tell whether Woonty is correct to say that property might go up 50% before correcting, and for now i tend to agree with him that the real demand is still there. until I see demand diminishing will my view change else property prices gonna go up no matter what comes. Its pure demand vs supply economics, my fren. Btw, as we talk, the thomson grand has already pushed up prices in thomson by another 10% within a month.
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Post by Dennis Ng »

equilat wrote:To each his own views. We do not need to agree. Its always good to have diversity in views. Time will tell whether Woonty is correct to say that property might go up 50% before correcting, and for now i tend to agree with him that the real demand is still there. until I see demand diminishing will my view change else property prices gonna go up no matter what comes. Its pure demand vs supply economics, my fren. Btw, as we talk, the thomson grand has already pushed up prices in thomson by another 10% within a month.
How many units at Thomson Grand did they sell? I heard not many. Anyone can confirm. Developers can play around with price, if at first launched low, then adjust price upwards...

Or sometimes, they show a High Listed price, then tell they can give you up to 20% discount if you really want to buy...

Such games they play can make it difficult for the man on the street to know whether the property market is as "hot" as developers make them appear to be.

How Hot is the Property Market now? To find out yourself, try selling your private condo now and see how fast you can sell your property. You might be shocked to find out that the property market is NOT as hot as what the developers want you to believe.

As long as we put our money where our mouths are, we will gain/lose by our opinion. Talk is cheap. But always remember to ask ourselves:"what if I'm wrong, will I be financially ok?" I always ask myself this.

Even experienced investors can forget to ask themselves this question. A real life example is Mr Oei Hong Leong.

I guess Mr Oei Hong Leong didn't ask himself this question, that's why he lost S$1 billion, such a big amount (estimated at least half of his wealth).

http://www.asiaone.com/Business/News/My ... 42468.html
Last edited by Dennis Ng on Sat Jul 23, 2011 10:55 am, edited 1 time in total.
Cheers!

Dennis Ng - When You Master Your Finances, You Master Your Destiny

Note: I'm just sharing my personal comments, not giving you investment advice nor stock investment tips.
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