quick question: when is it really a good time to buy a property?

[wt_know]

Re: quick question: when is it really a good time to buy a property?

just sold your place ehh. is your asking price realistic? hehe ...
anyway, kudo and whether your bet is right or wrong, you already pocket the profit now .
the proven way to make money is buy low sell high, although many also believe buy high sell higher

hmmm... i just sold my place, and i will be renting a place for the time being and see how things unfold
i'm thinking the asking psf of many properties are becoming unrealistic, especially the mass market developments and the new projects that are going to TOP in 2012-2013...
i think i read somewhere that in the next 2-3 years, there will be about 50000 units of private property being released??
the property market is also softening down under due to the new immigration policy showing its effect, will singapoer be the same????
crossing my fingers that i placed my bet on the correct colour :errr:

 

[Welbo]

Re: quick question: when is it really a good time to buy a property?

good time to buy was somewhere in 2006. actually 1997 was an even better time to buy after asian crisis. in fact a better time to buy was in about 1945 when orchard road was going for 1sgd per acre. but then hor, in 1818 b4 the ang mor gao came, u just squat there n its yours. come to think of it, i think frankly the best best time to buy was about 5000BC, when the damn egyptians were building those triangle shaped things in the sun, wud hv been the best time.

Very very critical reading of the market. No wonder you driving supercar as you can read market so very well!!!

Good time to buy is when economy is in recession, unemployment rate is 8% and interest rate is above 5%.....and every alternate neighbours of yours has someone out of job....and all the shit head analyst is predicting another 10% drop in property prices......

By then, you also have no confidence to buy unless you have more than $5 millions sitting in the bank doing nothing. Most of us will be hanging ON to our job for dear life and will not commit ourselves to another huge ticket item.

Just buy if you can afford it and If u found your dream house especially landed property. If for Mass Market Condo, then you may want to wait for a while but life is very short so just dont wait too long.

Cheers!

 

[zorro]

Re: quick question: when is it really a good time to buy a property?

My motto is buy low sell high especially for investment purposes...I bought 2 small condo in Mar 2009 under the climate that I highlighted and at that time someone told me I am nuts to invest in property and told me Wee Chow Yaw think property will drop another 10%..Anyway I sold both last Dec and sitting on the sideline and waiting again.

Yes its difficult to get a good landed property and thats why I am rebuilding my house after 6 months of futile searching....

By then, you also have no confidence to buy unless you have more than $5 millions sitting in the bank doing nothing. Most of us will be hanging ON to our job for dear life and will not commit ourselves to another huge ticket item.

Just buy if you can afford it and If u found your dream house especially landed property. If for Mass Market Condo, then you may want to wait for a while but life is very short so just dont wait too long.

Cheers!

 

[snowmanyee]

Re: quick question: when is it really a good time to buy a property?

if for short term investment, I would think monitor first cos of the uncertainties of the global economy now, US and Euro debts, terrorism alerts, natural disasters etc... I would think it will bust and drop a bit anytime... however if you are buying for long term investment, can go in cos in the long run surely property prices will soar further in view of the influx of rich foreign investers and land will become more and more scarce in this little red dot and also inflation ..... in 10 years time, a 4 room flat might fetch $700-$800k, a 5 room $1million and a 99 years 2-room condo $1.5-$2 million.... freehold or 999 properties $2-$3million and will start to become beyond reach for people like me... and a small landed property might be easily going for $3.5-$5 million... got money buy now and sell later surely make profit...

 

[Pitt]

Re: quick question: when is it really a good time to buy a property?

Some of the post goes back around June the property price from then till now has increased even more. Buy high sell higher is the truth in the real world market. Buy low sell high is more a thing of the past. Construction cost has risen, labor cost has risen, majority of the people who bought has holding power. If no one wants to make losses, then how will the price come down? Would u sell ur place at a loss even if you are bankrupt? Target population is 6 mil in less than 2 years, 50k new homes is only less than 10% of the targeted increase. It is important to buy after you sell if not your margin will be worthless as inflation is high and interest rate is too low now

 

[danchia]

Re: quick question: when is it really a good time to buy a property?

if for short term investment, I would think monitor first cos of the uncertainties of the global economy now, US and Euro debts, terrorism alerts, natural disasters etc... I would think it will bust and drop a bit anytime... however if you are buying for long term investment, can go in cos in the long run surely property prices will soar further in view of the influx of rich foreign investers and land will become more and more scarce in this little red dot and also inflation ..... in 10 years time, a 4 room flat might fetch $700-$800k, a 5 room $1million and a 99 years 2-room condo $1.5-$2 million.... freehold or 999 properties $2-$3million and will start to become beyond reach for people like me... and a small landed property might be easily going for $3.5-$5 million... got money buy now and sell later surely make profit...

it is a scary thought, with the current price spiral. 99 yr LH condos gg for 1200psf even not in prime areas. i myself am looking to sell my dad's place and mine, to look for an even bigger place for the whole family, and now am always uncertain what my next move should be.

new policies and duties don't help of course..

 

[james72]

Re: quick question: when is it really a good time to buy a property?

Buying a new property now that TOP after 2016 should be safe. Right now the competition have started as developer try to get rid of their new units before more flood the market. Economy will start to pick up back after 2015 base on all the billion dollars expansion in certain industry.

 

[ktnpl]

Re: quick question: when is it really a good time to buy a property?

Even for own stay, buying at the right time helps. It would be better to be "earning" $8,000 a month to stay in the property rather than be "losing" or renting for $8,000 a month.

 

[pengful]

Re: quick question: when is it really a good time to buy a property?

Buying a new property now that TOP after 2016 should be safe. Right now the competition have started as developer try to get rid of their new units before more flood the market. Economy will start to pick up back after 2015 base on all the billion dollars expansion in certain industry.

We have not seen any drop in prices yet, maybe 20K there or abouts in certain developments but not yet. Developers are still selling at pre-announcement prices. Wait for banks to up interests rates.

 

[zorro]

Re: quick question: when is it really a good time to buy a property?

Developers all gang up not to drop prices for new development but they are willing to negotiate now...Its the secondary market that will buckle first and sign of interest rate hiking is already present...

 

[Niva]

Re: quick question: when is it really a good time to buy a property?

how to time the market perfectly?
but u can only gather some sense if the market is lofty or on its decline...

someone told me wic i tot makes sense, big ticket items...like cars and houses...buy when no one is buying and sell when all are buying...

Patience is needed in this market. I believe we all can agree that the previous peak has been breached, new heights achieved and now its a question of the magnitude of the decline, the market has reached its peak, down cycle now. Not possible to time the market.

1. Prices and volume are good indicators...volume weak for now...this will not translate to weaker selling prices yet...remember prices tend to be 'sticky'....if a prolonged period of weak sales volume, then we will see a more apparent price decline, regardless how 'fat' their balance sheets are....end of day, they have to answer to shareholders n their board. Unless you are pure high-end developer

2. Developers' bid price in recent tenders - only non-traditional developers are aggressive in their bids...SPH for eg. Otherwise, most of the developers have factored in the ABSD into their land bid model and hence lower bidding prices as compared to before. This means suburban condo prices have peaked. Any home prices below 1k psf imho is good entry point.

3. One to watch and sales response...Capitaland's launch of Bishan condo..at 1700 psf...lets see if how many genuine buyers at this crazy price...U pay high u sell high...but maybe we shld let the developers know...sorry this is dumb price u paid so u suck it and bear these losses...hope there are no cai tao here who are keen to buy this project

 

[Niva]

Re: quick question: when is it really a good time to buy a property?

One more thing I may add as posted previously, please do not always listen to agents and analysts telling u....this is long term investment even at this price.....my family bought a landed home at the pinnacle of the previous property cycle...negative valuation for 13 years until recently.factor in all the interest paid...maybe break even...BULLSHIT LA....property long term...u catch the cycle wrong you are in for almost 7 years or longer period of frustration. I nvr believe investment is long term....its a way that analysts and agents get their way out when things go wrong....everything long term oso can wat...

 

[zorro]

Re: quick question: when is it really a good time to buy a property?

Agreed....But for some super-duper rich ones this dont apply...

One more thing I may add as posted previously, please do not always listen to agents and analysts telling u....this is long term investment even at this price.....my family bought a landed home at the pinnacle of the previous property cycle...negative valuation for 13 years until recently.factor in all the interest paid...maybe break even...BULLSHIT LA....property long term...u catch the cycle wrong you are in for almost 7 years or longer period of frustration. I nvr believe investment is long term....its a way that analysts and agents get their way out when things go wrong....everything long term oso can wat...

 

[wt_know]

Re: quick question: when is it really a good time to buy a property?

just like broker bullshit, don't worry paper loss only. keep holding ... eventually become super long term

One more thing I may add as posted previously, please do not always listen to agents and analysts telling u....this is long term investment even at this price.....my family bought a landed home at the pinnacle of the previous property cycle...negative valuation for 13 years until recently.factor in all the interest paid...maybe break even...BULLSHIT LA....property long term...u catch the cycle wrong you are in for almost 7 years or longer period of frustration. I nvr believe investment is long term....its a way that analysts and agents get their way out when things go wrong....everything long term oso can wat...

 

[totoseow]

Re: quick question: when is it really a good time to buy a property?

make money in ppty mkt very hard one la....u need to hv the ability to tahan. the only good thing in property investment/trading is this...

its the only thing that can give u mega leverage....well they r making it harder now by asking u to cough out more upfront. but still no one else will lend u 1mio dollars for anything cept if u buy property. ok equity financing may do that....but will u borrow 1 mio to punt stocks? its just different. punting property may still earn u a carry. ok im no expert. i make money from pimping armpits.

 

[Niva]

Re: quick question: when is it really a good time to buy a property?

Some truth in it. But I do know that for stock trading, some banks can give 10 times leverage of your cash in bank. But you are right in that it takes guts to throw 1 mil into stocks. I leave it to experts.

make money in ppty mkt very hard one la....u need to hv the ability to tahan. the only good thing in property investment/trading is this...

its the only thing that can give u mega leverage....well they r making it harder now by asking u to cough out more upfront. but still no one else will lend u 1mio dollars for anything cept if u buy property. ok equity financing may do that....but will u borrow 1 mio to punt stocks? its just different. punting property may still earn u a carry. ok im no expert. i make money from pimping armpits.

 

[pengful]

Re: quick question: when is it really a good time to buy a property?

how to time the market perfectly?
but u can only gather some sense if the market is lofty or on its decline...

someone told me wic i tot makes sense, big ticket items...like cars and houses...buy when no one is buying and sell when all are buying...

Patience is needed in this market. I believe we all can agree that the previous peak has been breached, new heights achieved and now its a question of the magnitude of the decline, the market has reached its peak, down cycle now. Not possible to time the market.

1. Prices and volume are good indicators...volume weak for now...this will not translate to weaker selling prices yet...remember prices tend to be 'sticky'....if a prolonged period of weak sales volume, then we will see a more apparent price decline, regardless how 'fat' their balance sheets are....end of day, they have to answer to shareholders n their board. Unless you are pure high-end developer

2. Developers' bid price in recent tenders - only non-traditional developers are aggressive in their bids...SPH for eg. Otherwise, most of the developers have factored in the ABSD into their land bid model and hence lower bidding prices as compared to before. This means suburban condo prices have peaked. Any home prices below 1k psf imho is good entry point.

3. One to watch and sales response...Capitaland's launch of Bishan condo..at 1700 psf...lets see if how many genuine buyers at this crazy price...U pay high u sell high...but maybe we shld let the developers know...sorry this is dumb price u paid so u suck it and bear these losses...hope there are no cai tao here who are keen to buy this project

+1. It is like who blinks first and once it starts, everyone will blink.

Get ready your money and wait to "cheong ah"!

 

[kenntona]

Re: quick question: when is it really a good time to buy a property?

Best time to buy (for investment and/or rental yield):

(1) when the sentiment is extremely bearish
(2) when it is possibly the tail end of bear cycle, definitely not tail end of bull cycle
(3) when the price gap between the condos and the 5-room HDBs are at the narrowest
(4) when the interest rate cycles - 3/6/12 months SIBOR - starts to turn up (not current situation)

 

[danchia]

Re: quick question: when is it really a good time to buy a property?

One more thing I may add as posted previously, please do not always listen to agents and analysts telling u....this is long term investment even at this price.....my family bought a landed home at the pinnacle of the previous property cycle...negative valuation for 13 years until recently.factor in all the interest paid...maybe break even...BULLSHIT LA....property long term...u catch the cycle wrong you are in for almost 7 years or longer period of frustration. I nvr believe investment is long term....its a way that analysts and agents get their way out when things go wrong....everything long term oso can wat...

totally agree with you here.

my family also bought in the last upwards cycle and eventually spent the next 8-10 years waiting for the home to break even in terms of interest rates and valuation. once we even thought we might have to live there indefinitely

finally sold the place after 10 years, broke-even, and continue to lie to ourselves that well, we 'profited' by not paying rent for that time...

a wrong investment / timing cost my family 10 years and perhaps 300k or more. be prudent ppl.

 

[Twinturbo]

Re: quick question: when is it really a good time to buy a property?

When your friends and you don't dare to buy. Don't even want to check on own house valuation. About time.....