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Falling HDB prices: Mad Dog, Meng Seng etc don’t count yr chickens yet

In Property on 02/05/2018 at 11:20 am

Private property mkt is going thru the roof

The Republic confirmed its biggest quarterly surge in private home prices in nearly eight years on Friday (April 27) — a 3.9 per cent jump that beat an earlier estimate of 3.1 per cent, data from the Urban Redevelopment Authority (URA) showed.

This is the highest quarterly price growth since the 5.3 per cent quarter-on-quarter increase in the second quarter of 2010.  In comparison, prices of private residential properties rose 0.8 per cent in the fourth quarter of last year over the previous quarter.

Ms Tricia Song, Colliers International head of research for Singapore, noted that it was “rare to see such a wide variance between the actual and flash numbers”. Flash estimates are based on data from the first two months of the quarter.

Constructive  T

while the Housing and Development Board (HDB) resale market has experienced a contrasting fortune compared to the private with the HDB resale price index contracting by 0.8%  for January to March.

Analysts have said that the increase in housing grants, shorter waiting time for Build-To-Order flats in certain housing estates, a strong supply of new public housing units, and the Government’s pronouncement that it will not renew the leases of HDB flats when they run out are some of the factors pushing down HDB resale prices.

So Mad Dog, Meng Seng, Lim Tean (Collect money from public but Where’s yr defamation video and jobs rally Lim Tean?) and other cybernuts (active or paper) are celebrating the defeat of the PAP in next GE.

But they did not read the ending

In the next quarters, HDB resale prices are expected to eventually rebound, the analysts said.

Given the huge number of en bloc sales since last year, Mr Ismail predicts “a greater demand for HDB resale properties with some en bloc owners considering bigger sized resale flats in the second half of the year”.

For the full year, the analysts said they expect HDB resale prices to be flat or grow by up to 1 per cent.

Not as gd as private property but then GE will not be held next year but the year after: after Raffles200. There’ll be goodies galore for HDB flat owners, trust me.

As to Goh Meng Seng’s BS that he’ll reveal his plan to solve the 99-yr HDB lease “problem” during next GE campaign, he shouldn’t waste his time BSing us. The PAP administration can solve the problem with a stroke of the pen. But will it is the question? More on what PAP administration can do soon.

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  1. Alamak so easy … short-term renewable lease or lease top up lah. Private property owners can already do lease top up — but so far no resident is mad enough (or rich enuf) … they prefer to sell to developers & let them do the top up instead.

    For HDB, PAPies will even throw in “subsidized” lease renewals. But not yet larr … their hegemony not threatened yet.

  2. For a person who professes to be financially literature, you are really showing plain ignorance and naivety.

    Whether the HDB prices will rise in the short term doesn’t change the fact that more and more HDB flats closing in to 40 year lease will start to depreciate drastically. And our dear Minister Lawrence Wong has already confirmed that while the lease reaches 99 year, there will be no renewal of lease and the HDB flat will be ZERO in value.

    It is ok to be ignorant once a while but it is rather stupid to continue to believe in something that is already proven and confirmed falsehood.

    Goh Meng Seng

    • lOL. Tell me what I got wrong.

      • Ples read what I wrote not what u think I wrote. I’ve pointed out long time ago that HDB flats prices will fall off a cliff when buyers’ don’t have access to financing, so don’t misrep me.

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