Read this article:-
"According to HDB's results released today, the resale price index dropped 0.9%, the first time that the index declined since 1Q 2009 when deep recession hit.
Transaction volume was also lower, falling 13% from the previous quarter to 4529 cases. Comparatively, there were 6560 deals done in the 3Q of last year. A dropped of one-third comparing YOY.
The overall median COV had dropped more than 45% to its current $17,000 in 3Q 2013 compared to $32,000 at the beginning of 2013.
Economists and analysts claimed that the price trend is due to stricter controls on home loans. Reduction of the mortgage servicing ration to 30% of borrower's gross monthly income. Coupled with new BTO flats on offer. HDB is on track to launch 25,000 new flats this year, with about 5,000 due to released next month. PRs having to fulfil 3 years requirement before they can purchase a resale flat and so on."
Remember I talked about property on 1-September. Think twice before you decide to purchase an unit. This is just the beginning. More will comes, in regardless HDB or private. In fact some areas are selling with zero COV and some even to the extend of selling under valuation.
My advise, think before you act. As what I said in the 1-September posted, some people said the housing price in Singapore no matter what, 10 years, 20 years it will go up as Singapore has limited land space. Make sense. But, have they watch out and calculate the interest rate. Have they forgotten what happened during the Asia crisis? Am I hurry to get a house now? If not, why rush? Wait, and if I can buy an unit with 20% to 30% lower, why not?
"According to HDB's results released today, the resale price index dropped 0.9%, the first time that the index declined since 1Q 2009 when deep recession hit.
Transaction volume was also lower, falling 13% from the previous quarter to 4529 cases. Comparatively, there were 6560 deals done in the 3Q of last year. A dropped of one-third comparing YOY.
The overall median COV had dropped more than 45% to its current $17,000 in 3Q 2013 compared to $32,000 at the beginning of 2013.
Economists and analysts claimed that the price trend is due to stricter controls on home loans. Reduction of the mortgage servicing ration to 30% of borrower's gross monthly income. Coupled with new BTO flats on offer. HDB is on track to launch 25,000 new flats this year, with about 5,000 due to released next month. PRs having to fulfil 3 years requirement before they can purchase a resale flat and so on."
Remember I talked about property on 1-September. Think twice before you decide to purchase an unit. This is just the beginning. More will comes, in regardless HDB or private. In fact some areas are selling with zero COV and some even to the extend of selling under valuation.
My advise, think before you act. As what I said in the 1-September posted, some people said the housing price in Singapore no matter what, 10 years, 20 years it will go up as Singapore has limited land space. Make sense. But, have they watch out and calculate the interest rate. Have they forgotten what happened during the Asia crisis? Am I hurry to get a house now? If not, why rush? Wait, and if I can buy an unit with 20% to 30% lower, why not?
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