HDB resale prices fall 1.6%, private home prices dip 1.3%

[CityFarmer]

HDB resale prices fall 1.6%, private home prices dip 1.3%

SINGAPORE — Resale prices of Housing and Development Board (HDB) flats fell 1.6 per cent in the first three months of 2014 from the last quarter of 2013, while private home prices declined by 1.3 per cent, according to data released today (April 25).

The 1.6 per cent drop in the HDB resale price index was larger than the advance estimate of a 1.5 per cent decline made earlier this month.

Singapore home prices have fallen in recent months, hurt by government efforts to cool the housing market.

HDB resale prices have dropped for three consecutive quarters, while private home prices are down for the second straight quarter.

With the revision in resale procedures on March 10, this year to reduce the focus on Cash-Over-Valuation (COV) in negotiation, HDB said it will also cease the publication of quarterly median COV by town and flat type. The COV data currently available at HDB InfoWEB will also be removed.

URA said price declines were observed across all segments of the private residential property market.

Prices of non-landed properties in the Core Central Region dropped by 1.1 per cent, following the 2.1 per cent decrease in the previous quarter.

In Outside Central Region, prices declined by 0.1 per cent, following the 1.0 per cent fall in the previous quarter.

Prices in the rest of Central Region declined 3.3 per cent, after registering a marginal 0.4 per cent increase in the previous quarter.

Rentals of private residential properties decreased by 0.7 per cent in the first quarter, accelerating from the 0.5 per cent decline in the fourth quarter. CHANNEL NEWSASIA
http://www.todayonline.com/singapore/hdb...ces-dip-13

[chialc88]

It's a buyer market.
I noticed that quite a few value buddies already sold off their Over-value shares and building up their war-chest.

I am planing to de-leverage too.

Finger itchy itchy (not sell but buy property lar. Everyone knows:
It's a BUYER market !

Love Compassion


A Life not Reflected is a Life not Worth Living.

[brattzz]

low can get lower! :O

2015 can see the impact!

[corydorus]

I look at the Price index, the price only starting to turn a corner. Maybe till 2016. Well is good for our future generations and Singapore.

[chialc88]

I hope the current generation can support this.

I fear that just moment before GE2016:
"Sir, my property value is dropping every month, what are you going to do about it?"

PAP better has a good answer to this.

(not a call to buy or sell)

Love Compassion


A Life not Reflected is a Life not Worth Living.

[corydorus]

I hope the current generation can support this.

I fear that just moment before GE2016:
"Sir, my property value is dropping every month, what are you going to do about it?"

PAP better has a good answer to this.

(not a call to buy or sell)

Love Compassion


A Life not Reflected is a Life not Worth Living.

Like Stocks, you do not ask Gov why my property investment go down.
The right question should be jobs, income level, standard and cost of living.

I hope we do not go the path of Taiwan. I think their affordability index would have hit the roof like 10 ! Is almost impossible for their young to buy apartment in Taipei. Neither do they have massive HDB for every citizens.

Do you know over there when their Stock market go down, they question their government on why they have yet use national and retirements funds to support the stock market ? Thing get so serious even when they are near 9000 (updated) high index, they still demanding for it every time there is few days of down period. Their minister has to go on TV to explain ....

[chialc88]

Cory,
Agree 100% with your thinking process.
no problem.

My only concern is during GE2016.
If our PAP gov do not have a good answer to the current property owner, then we will be doom.

Die die we must keep our current foreign minister.

*** Frame on ***
To add some drama.
Pretend that you switch on your car radio one day as usual in 2016.

You heard Mr Low TK voice asking:
"Mr Minister. (pause) Our property price is dropping every month for the last 2 years, what are you going to do about it?"
*** Frame off ***

I think amoung many, there are 2 ways the market could develop:
1. Sharp drop in 2014 (yes, you read me)
Very painful drop in 2014.
Follow by Gov rescue plan.
We have a celebration for SG50.
Follow by property price goes up in 2016.
PAP won GE2016 significantly.

or second way:
nothing happen, the property price did not crash but stablised(ai ya, drop a little bit lar).
We celebrated SG50 happily.
Follow by PAP won GE2016 significantly.

I know the above 2 ways could drastically differ from other VB view which I hope never happen:
Property price continue dropping every month from 2014 to 2016.
(just picture your own home drop 10k every month aka 100k every year)
SG50 national joy mood spoilt by grumbling here and there.
GE2016, every week, family gathering and discussion with friend turn out to be complaint session.
Nobody is happy.

So what?
How does it impact your life and your family?

Love Compassion



A Life not Reflected is a Life not Worth Living.

[cfa]

Cory,
Agree 100% with your thinking process.
no problem.

My only concern is during GE2016.
If our PAP gov do not have a good answer to the current property owner, then we will be doom.

Die die we must keep our current foreign minister.

*** Frame on ***
To add some drama.
Pretend that you switch on your car radio one day as usual in 2016.

You heard Mr Low TK voice asking:
"Mr Minister. (pause) Our property price is dropping every month for the last 2 years, what are you going to do about it?"
*** Frame off ***

I think amoung many, there are 2 ways the market could develop:
1. Sharp drop in 2014 (yes, you read me)
Very painful drop in 2014.
Follow by Gov rescue plan.
We have a celebration for SG50.
Follow by property price goes up in 2016.
PAP won GE2016 significantly.

or second way:
nothing happen, the property price did not crash but stablised(ai ya, drop a little bit lar).
We celebrated SG50 happily.
Follow by PAP won GE2016 significantly.

I know the above 2 ways could drastically differ from other VB view which I hope never happen:
Property price continue dropping every month from 2014 to 2016.
(just picture your own home drop 10k every month aka 100k every year)
SG50 national joy mood spoilt by grumbling here and there.
GE2016, every week, family gathering and discussion with friend turn out to be complaint session.
Nobody is happy.

So what?
How does it impact your life and your family?

Love Compassion



A Life not Reflected is a Life not Worth Living.

Most of the property owners already enjoy 50 , 100 or few 100 % appreciation on their properties , what is a drop of 10 or 20% ?
Only small minority will suffer a drop in capital value with recent purchases, but some of these buyers also have other properties with good capital gain.
This will not be a issue .

[chialc88]

cfa,
may be.
Although I doubt any Singaporean could take the hit of 100k drop per year lightly.

You guess is as good as mine.

Love Compassion



A Life not Reflected is a Life not Worth Living.

[cfa]

cfa,
may be.
Although I doubt any Singaporean could take the hit of 100k drop per year lightly.

You guess is as good as mine.

Love Compassion



A Life not Reflected is a Life not Worth Living.

Any policy that goes left or right, some group will be affected positively or otherwise .
I dislike being too crowded because of influx of foreigners, but I enjoy good rental returns from these big influx of foreigners from my other investment properties.