SG Talk

With interest rate spiking up. Europe in economic turmoil and China facing the slowest economy in 30yrs.

Fedex CEO says his company data gives  further evidence of this.

Is the property price climb in Singapore sustainable given world wide we are seeing economies weakening?

Property loan in US cross 6% and in Singapore 3%
Yet we are seeing a very very strong property market in sg.

Sgp no land. Minimal unemployment. Property how to go down?? Tge moment it goes down ppl will scoop.

No wonder Lee WZl sold her GCB at 50million

Best time to buy properties in Singapore is after 3mths SIBOR hits 3%, historically.

Now is 2.8%. SG properties has peaked. This Govt has ways but need to keep importing FTs...

(18-09-2022, 01:16 PM)sgbuffett Wrote: [ -> ]With interest rate spiking up. Europe in economic turmoil and China facing the slowest economy in 30yrs.

Fedex CEO says his company data gives  further evidence of this.

Is the property price climb in Singapore sustainable given world wide we are seeing economies weakening?

Property loan in US cross 6% and in Singapore 3%
Yet we are seeing a very very strong property market in sg.

Partly MOST Singaporean are self contented etc . They don't feel the recession is coming partly " Our Govt ONLY want you heard good things " Media daily like to highlight Million dollar BTO Flats , people willing to spend , travelling , etc

But Govt do mention " prepare for the worst " Recently TV keep spamming Govt Ad telling you " uncertain around the world , beside Russia war on going "

Next those property sales are mostly from PRs or New citizen. Yes there are locals pay high for it but some are " downgraded " they sold their condo and downgrade to HDB.

spore n pap govt cantfight against the world trend on coming recession
sooner than u expect to come

be ready

Most likely Singapore goes to pieces.
The madness now is Talents millioaires will come
without looking out the window

Earthquakes flooding ponding across the whole world
they r desperate for the world they used to.
It is like artillery bombardment to soften your enemies

(18-09-2022, 01:29 PM)FartSunKing Wrote: [ -> ]Singapore's private residential property price index will fall 30% over the next 5 years

You heard it here first

Thanks to PSLE genius 5354

You did buy hdb resale recently right?

Still good value if you dont need the money just stay and enjoy.

30% is alot. But Asian crisis fell by 50% in 2 yrs.

There are long stretches of property bear markets in history but people never experience in their life time ...many people in 30s never experience q recession in which all their skills are redundant or oversupplied to market...and they cannot service loans.

People have become too optimistic send have no memory pf Asian crisis or 80s 70s recessions...they assume the world they are in stays the same...

They have a new tool called Quantitative Easing to play around with. Plus triggering the Fed Fund rates, they are confident that this recession can be avoided. Let's see how they will play out. Might be surprised by the results.

https://skyjuiceiswater.blogspot.com/202...#jumpspot6

(18-09-2022, 08:47 PM)FartSunKing Wrote: [ -> ]I upgraded my HDB home last year from 3rm to 5rm resale

Paid $880K including stamp duty, legal fees and renovation 

I own a HDB flat the past 30 years since Jan 1992

My first resale HDB was an executive maisonette 

Which I bought for $185K and sold for $385K around end 1998 

I downgraded to a resale 3rm HDB flat that cost $123K

To get cash to invest in a $550K 807 sq ft 2 bedroom condo in Trevose Park around end 1998

And a $440K 1615 sq ft apartment in Farrer Court in early 1999

I remember those 2 properties made you  a fortune...but you also almost got into trouble