I'm SORRY But New Launch Condo Prices Are Just...

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Күн бұрын

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@joshconsultancy 14 күн бұрын

WATCH PART II : I think buying new launch condo prices is very risky - kzbin.info/www/bejne/aHTUeX15f9-LopI If you would like to support the channel 👍🏻: payhip.com/b/DLYs2 Purchase special video today! - SOMETHING I FOUND ANALYSING NEW LAUNCH CONDO! OR Donate any amount here ❤: ko-fi.com/joshtan Video is not sponsored and views are shared independently. All proceeds will be part of the $10,000 year end Josh Tan Bursary

@xfall86 Ай бұрын

Finally someone spitting real facts. Thx Josh

@joshconsultancy Ай бұрын

I think its about time =)

@psylak-py9qv 29 күн бұрын

When new mass market condos first hit the $1000psf mark in Singapore, many friends and colleagues around me said that was too crazy and not sustainable and don't buy and get burned. But even after rounds of cooling measures, prices continue to go up. The $2000psf threshold is just going to be the new norm, unfortunately, for mass market condos that are decently located and not too old. New launches will always attract some people, as it seems many in SG only want "new" apartments that has not been lived in before. It's a silly mindset, but it's a fact.

@planwithisaac 19 күн бұрын

My 2 cents Price is not the only factor if comparing new vs resale. One have to ask if 1) age of property is a factor 2) maintenance of facilities is a factor 3) valuation fr the bank is a factor So its always easy to compare just using prices, resale will always win. But demand n liking in singapore is diff and demand has always outweighed supply. So dig deeper before judging. I do agree not all new launch can buy, so have to choose carefully. Don buy into hype

@joshconsultancy 19 күн бұрын

Valid points raised

@btbt2206 Ай бұрын

Completely agree with you Josh!! It's utterly shocking ulu JurongLakeside Lentor went for $2k+ psf and now even Woodlands!! Imo, it's definitely not worth that kind of price! It's all the marketing hype by developers agents & fomo by buyers! Developers are super greedy! Even though land sale price has dropped, they will not sell correspondingly lower. They will still sell high to maintain a much higher profit margin.

@joshconsultancy Ай бұрын

Thank you. 2013 had lots of examples of overpriced launches. I’ve a previous tutorial series at ending screen

@BomBomm12345 Ай бұрын

with jurong and woodlands hitting 2.1k psf.. made me go into freehold inter terrace in d13 for $2066 psf on the land (not built up)..

@chengyicai8775 Ай бұрын

Old and small projects can have very shady tenant profiles, and/or weird floor plans. Ultimately people want to stay in a nice place with nice neighbors. Look at the newly TOP leasehold condo prices and compare with new launch prices and you will see a smaller gap

@平常心-d4k 29 күн бұрын

Fair criticism. However, for people who are bullish in real estate they will go all in thinking 1) there will always be demand and someone (presumably foreigners) willing to pay higher in 3-4years time upon completion 2) that immigration policy will maintain and we continue to enjoy more population in Singapore, regardless foreigners to convert to SPRs or Citizenship 3) regulations will maintain the same (clearly not the case when even public housing LTV has been nerfed couple of times from 90/95 to 80 and now 75% of valuation) 4) credit facilities will always be cheap and employment income is stable long term. There are just too many variables and real estate isn’t for everyone. But it allows one to use a powerful tool - which is leverage, to “invest” in an asset class without having to have full funds.

@joshconsultancy 29 күн бұрын

Valid point

@ackc1204 Ай бұрын

True, this Norwood psf seems ridiculous. I expect it to be somewhere around 1600-1800 psf since its very near TEL and Woodlands Health. This project is under the new harmonized GFA. But yet many were surprised by its huge 84% sold out on first day. Singapore got many rich people....Our inflation may continue to climb before next recession.

@beedeebee179 29 күн бұрын

other than TEL, there are nothing much around the vicinity. Also, the sport school will be reallocated making the place worst.

@tobacollections2130 29 күн бұрын

How to sell 1600-1800? Developer need to earn la. Blame the government for selling the land expensive

@tanpingyi4771 28 күн бұрын

@@tobacollections2130 its market forces though. developers have to put in a bid and make their assessments before that

@dorisalim8626 21 күн бұрын

@ackc1204 u know your expectation means the developer gota sell at a loss to meet your expectation right? Do u even know dev breakeven price for that land?

@UrbanNormad Ай бұрын

I fully agree with you, Josh. In Lorong Chuan, Chuan Park is priced 2200 -2500, just opposite, the Springbloom is selling 1300. I see the craze for new launch is getting very irrational.

@joshconsultancy Ай бұрын

Thank you, Id go investigate into Chuan park launch soon. The premium seems pervasive

@bkoh1771 Ай бұрын

Yeah but are we just focusing on psf or efficient space? Take a look at the Springbloom layout. 893 sqft can only get you a 1bdrm. You probably can get 3bdrm in Chuan Park. It's so inefficient. There is so much wasted space in big balconies, big bay windows odd corners, ac ledges, etc. To get a 3bdrm in Springbloom you need at least double the space which is still about $2.2m onwards. At half the price you can only get a 1bdrm.

@waynetr Ай бұрын

@@bkoh1771 the point is with the same budget, you can buy 50--75% more space at springbloom. And Springbloom's floor plan isn't as bad you described. Also, Chuan Park has bigger AC ledges

@bkoh1771 Ай бұрын

@waynetr what's the point of getting 50% more when the price is the same? You still get 3 beds n enclosed kitchen etc. Effective space. It is not Springbloom 893sqft is a 3bdrm and is half price.

@Godfather1921_melo 29 күн бұрын

@@UrbanNormad chuan park $2200-2500? Sure bo where to find ? Confirm $2600 or even $2700 above

@jtbroker 29 күн бұрын

Hi Josh I agree with you that new launch prices are quite hard to swallow these days. Just wanted to share my two cents...Imo, its quite unbalanced to compare boutique projects like Suites @ Katong and Haig 162 against Tembusu Grand even they are freehold. But freehold doesn't mean 100% can make money. I lived in D15 for more than 15 yrs and I know the area very well including the types and dynamics of condos. I am also in the midst of moving places, my 2nd move in east coast. The two boutique apt you mentioned are really not liveable compared to today's highly efficient layout, offerings and the scale of new projects. Both of them have tiny mickey mouse units and have only 1 & 2 bedrm unit types, high maintenance etc even if u are an investor u be put off. And families looking into that area are more for schools so older projects like Haig Court is highly popular and just a stone throw to Amber enclave u have similar freehold amber projects. I think a fairer and closer comparison is to pit Tembusu Grand or Emerald Katong against projects like Haig Court, Dunman View, Paradise Palms, Versilia on Haig, Butterworth to see the correct price gap. my two cents.

@jonathanya154 29 күн бұрын

Yes. I stayed in Haig court previously and sold it about 7 years ago for a sizable gain. And am surprised that the price continue to shoot up till today.

@joshconsultancy 29 күн бұрын

Pov noted

@nickei-1773 Ай бұрын

True to certain extend. It's higher risk to buy now. But there are more pple with high income, low debt ratio, with the msr tdsr in place, those people who can afford to buy, are prudent purchase (lower risk for bigger units) . Interest rate is also coming down, which will continue to stimulate the market. Hence my opinion is the price will continue to grow, but at a moderate rate. They will profit lesser in the future but the price will not crash.

@joshconsultancy Ай бұрын

Pov noted

@andrewufo 28 күн бұрын

I sold my property and bought 5mil of reits this year. Making almost a million now, in this year. Agree property will not crash, but its overpriced with low yields, and govt tax headwinds. If rates goes down, ppty will inch a little. But reits will rocket up. Otherwise theres 6% div yield

@nickei-1773 28 күн бұрын

@@andrewufo yeah happy for you. That's another strategy too. Just that I don't have good experience in equity market. I am trying to restart my equity slowly.

@dorisalim8626 21 күн бұрын

@andrewufo inch a little? Look at the charts. What happened to property in 2020 when rates got cut?

@andrewufo 21 күн бұрын

@@dorisalim8626 that was when rates cut to 0. Not the same. See the volumes in pvt property today and you will know sentiment is poor. Supply abundance. Cant flip and cant rent. In other words, pvt ppty is overpriced and will stagnate or slide down slowly. If rates cut it will simply support current prices.. and at best a small inching upwards. That was my point. Reits on the other hand dropped 40-50% because of interest rates. So if we go back to very low rates , then what do you think the recovery is. Im 5 mil in.. so a nice 40% will work handsomely.

@Whatexactlyispeace Ай бұрын

I really really dislike all the property agents. They always hype up the new condos and act like they act in the buyer’s best interest.

@dorisalim8626 29 күн бұрын

for the past 10 years, most of the new launch clients have earned easily 200-300k with records going up to a mil. Hype is something that is short term. Means it wont last. When it lasts for a decade its called a PATTERN instead of hype. Funny how all my clients are super happy to keep asking me to help them buy houses for a good 15 years already when others are here complaining non stop because they missed out on so many opportunities over the past 15 years to earn millions. U stay away from Orchard and sentosa condos u will be safe generally.

@Whatexactlyispeace 29 күн бұрын

@@dorisalim8626 most of the new launches that earn money are in what district? And what is the psf? This is woodlands and the psf is the same as district 13. Let’s see 3 years later how this property fare. And don’t sell the story of whatever pent up demand, near the upcoming RTS , near multiple primary schools yada yada. Firstly, what pent up demand? Pent up in katong, east coast, Potong Pasir I get it. Woodlands? Why is the RTS a plus point? It’s a plus point for the Malaysian side not the Singapore side. It makes sense to buy a property cheaply in Johor as it is easier to commute now. In fact the RTS should dampen demand in woodlands. Lastly , agents market like it’s near multiple primary schools. To be blunt, these primary schools are your neighborhood schools with no demand. How many of them are oversubscribed? Probably none

@dorisalim8626 29 күн бұрын

@@Whatexactlyispeace I wasn't selling Norwood Grand. I was pointing in general that almost all launches these days are Expensive in the eyes of singaporeans.

@AndrewKoh-d1l 28 күн бұрын

i like to bring my buyer to get undervalue property even resale HDB. Once they seeing paper gain, they intro more business to me=)

@alphaexpress6881 21 күн бұрын

@@Whatexactlyispeace as a property agent I agree with you that RTS will benefit jb property more than it does for woodlands property.

@DoubtVader Ай бұрын

Thank you Josh for such an insightful video! Earlier this year, I met up with a friend who went into property investing and eventually becoming a real estate agent. Put everything in the first BTO, sell and buy condo, flip again and repeat the process. The last property they recommended that is going TOP soon was Normanton Park. Showing me statistics etc on the SG property price chart, rentals etc etc. but something as an investor in the stock market taught me one thing - past performances does not equate to future results. When I dug deeper I noticed the property prices especially new launch are extremely overpriced like u mentioned in this video. If everyone is rushing into it like some hungry wolves, I’m definitely staying out for the time being. For me I am extremely uncomfortable having to put in so much capital into a property aka putting all my eggs in one basket and hoping for the best. I would rather for the time being diversify some into REITs. Didn’t anyone noticed, quite a few of these property agents are offering investment/financial advice now. Shouldn’t they be also certified?

@joshconsultancy Ай бұрын

Ya the park of keep doubling down will lead to a peak where it doesnt work. Life is full of surprises, dont put all your eggs in one basket!

@PPI317 Ай бұрын

On hindsight they not wrong..normanton park made $300-400k on average

@DoubtVader Ай бұрын

@@PPI317 they are not wrong, in the last 4-6 years, property prices did increase especially the mad rush during the post Covid lockdowns

@PPI317 29 күн бұрын

@rrcc1988 not a given though.. Just have to look at riverie and royal green, bought 4-6 years ago but buyers lost money. Normanton park is one which did decently well. Those who didn't hedge with property 4 years back will be priced out and make upgrading to landed much harder

@DoubtVader 29 күн бұрын

@@PPI317 if the ultimate goal is reaching a landed, nothing wrong with that taking the risk and going all in. I respect that decision and saluate the guts to do that - wish them all the very best (not in a sarcastic way but truly) 🙂 Different people have different risk appetite/profile - personally for me, I do not have that risk appetite to go all in into one asset class and losing sleep over it at this point.

@jimmylim9508 Ай бұрын

New launch properties has impact on nearby properties as well. developer set the price based on the land bid, if they decided to not make much from the developement, then the nearby resale seller sure make noise. if a new launch is just $100 to $200 difference psf, i would go for new. since renovating the old resales cost hard cash. if new launch priced so much higher, they helped the nearby resale seller exit the market at a wow price - hence the hype is continued..

@joshconsultancy Ай бұрын

Good pov. Question for us all is is the premium way too much?

@jonathanya154 29 күн бұрын

Nope, new launch price doesn’t significantly increase neighboring resale property by much.

@py3980 Ай бұрын

Not all home purchase or new launch projects are based on investment mindset. Some buy to own stay.

@meilishang663 28 күн бұрын

Yes and some just like woodlands, near mrt. Not mrt above the ground but mrt underneath , silent and quiet

@midlifesmart Ай бұрын

Josh. Your views are refreshingly honest and a much needed break from all the hype 247. Beyond the daily hype -even for those who have sold and made some money - almost everyone's calculations in their flex is Purchase Price - Selling Price. Nobody factors the cost of loans, cost of upkeep, opportunity costs. Just the gross numbers.

@joshconsultancy Ай бұрын

Thank you for the high praise 🙏

@andrewufo 28 күн бұрын

Property tax😂

@MrBluehorizonsugar 29 күн бұрын

I just bought a 20 yr old condo near Norwood at half of price psf. Not expecting a huge gain, but won’t expect great loss too. 2k psf is too high imho

@joshconsultancy 29 күн бұрын

I like your choice. Maybe the premium gap will narrow slowly in the next 20years

@meilishang663 27 күн бұрын

Issit woodgrove ?

@dorisalim8626 29 күн бұрын

Every single year, people will always complain property price high, was there anywhere in the past got people say cheap 1? 2008 carabelle launch 700psf everyone say siao. I earn 500PSF on that 1. 2016 principal garden launch 1600PSF people cry SIAO again. i made another 400PSF on that. If you dont study population figures and demand supply curve you will think its FOMO when actually it's just plain and simple economics by the way, my treasure at tampines sitting on 500k profits. I havent sell yet. Haig 162 is not even a condo. its an apartment sitting on an extremely small piece of land. 99 units means very little transaction to push price up. Being freehold doesnt save it from all these weaknesses. Why dont you try using condos with 400 units and above and see the results. Don't cherry pick the results to push a point.

@TheBebemom 25 күн бұрын

Dayummmmm 💯💯 fire

@abusdriv3r 21 күн бұрын

exactly, haven heard of anyone buying sg property and say its cheap!

@dorisalim8626 21 күн бұрын

@abusdriv3r this is why u don't listen to this insurance agent coming into the property realm to give property advice.

@wiicess Ай бұрын

Well it is caused partly by the gov who rejects low land sale price. Factor in high costs such as construction, manpower, professional & regulatory fees, can't really compare nearby condos which were built 10 years ago, albeit freehold. Cos the lease status doesn't matter here as land cost now for 99 is higher than FH in the past. SG is such a progressive nation that it doesnt make any more financial sense to compare present vs past. That y pple love SG as pty investments are still safe bets compare to other countries. Majulah Singapura.

@joshconsultancy Ай бұрын

Lease decay can still matter. Loan quantum still has a difference

@jerrytan930 Ай бұрын

Developer will not sell cheap even land are cheap, they are business man

@damyeuful 29 күн бұрын

I think there are also people who talk up the projects who are non agents. They conduct courses on how to buy into new projects and sell before TOP. Exactly like what you said "Pied Piper" effect. They all go in together and sell together and move on to the next project. Developers love them for creating demand and the ones in authority also condone them.

@Sonicksg 25 күн бұрын

Would be great if SSD could start after TOP. That would lower the number of buy and flip which is driving the demand.

@joshconsultancy 25 күн бұрын

Yes! Upvote if agree!

@jesselee713 Ай бұрын

Once the competition between HK and SG heats up, property prices in SG should cool down. It wont be a pretty picture when this competition escalates further...

@joshconsultancy Ай бұрын

pov noted

@viralloger267 29 күн бұрын

At end of the day its demand and supply that determine the price. U need to respect the market eventhough u hate woodlands. If cdl norwood grand with that pricing in tiong bahru area i dont think u would say anything and saying its good pricing

@joshconsultancy 29 күн бұрын

dont not hate woodlands

@tobacollections2130 29 күн бұрын

Finally someone make sense. People who comment expensive, just can’t accept the market. People who bought it because they can afford, demand and supply, why complain

@viralloger267 28 күн бұрын

@@tobacollections2130 the reason why they cannot accept is because they think their estate is the best. They failed to do research which is based on record transaction. According to data the most highly demand estate is punggol and woodlands

@meilishang663 27 күн бұрын

@@tobacollections2130true~ suddenly everyone talk about woodlands this 2 months

@tomkhong9828 Ай бұрын

$2mil for condo unit near JB? That’s not an investment for those who buy them, pretty sure of that.

@tobacollections2130 29 күн бұрын

First day you see the demands.. accept it

@SangPahOng Ай бұрын

Hi Josh, A very big thank you for your consistent, frank, balanced and impartial views on the recent property euphoria and hype. All these are created by developers and agents working hand in hand with strong marketing tools to maximise profits/commisions. This is simply not sustainable. Time will tell. I expect to see crack and casualties within the next 2 to 3 years!

@joshconsultancy Ай бұрын

Thank you for the support too 🙏

@neorenjie 19 күн бұрын

I've been tracking woodlands prices for an entire year. There are units that I've been following. They all started listing at 1300-1400psf, and then they eventually settle for 1100-1200psf.

@joshconsultancy 19 күн бұрын

Interesting insights

@minlingg91 29 күн бұрын

On your point about the population not increasing... All the singapore govt needs to do is to remove one cooling measure or approve more PR and prices will go up again.

@meilishang663 27 күн бұрын

Yes look at Bayshore de condo~ without those Changi business park FT, the price can’t maintain

@prana888 25 күн бұрын

and the upcoming just announced EC prices at tampines is going to be around 1700psf. so rubbish

@joshconsultancy 25 күн бұрын

WOW!!!

@beedeebee179 Ай бұрын

Fact! I was eyeing of Norwood Grand, was expecting to be around 1600 psf as condo in woodlands is selling as low as 800+ to 1300+. When I see the price, I decided not to go for it. At 2000+psf, I can probably get resales near central. Price is ridiculous!!!

@thewatcher4896 29 күн бұрын

its pretty obvious u are still living in the past mindset. How can a new launch be at 1600psf when the land price is already at a high, developer buys land from govt and then sell u at a loss? come on. 1600psf new launch prices are like in 2013/2014 in the RCR....times have change mate. New launch is not your thing, just go for old resale. Dont say its because its so ridiculous...

@beedeebee179 29 күн бұрын

@@thewatcher4896 Bro, why are you comparing RCR with OCR? We are talking about Woodlands. Woodlands Condo launched in 2014 was only 700-800 psf, current selling 1100-1300psf. 2000psf is absurd even if it is near to MRT.

@thewatcher4896 29 күн бұрын

@@beedeebee179 you still dont get the point do you? Im using RCR to show how prices have moved more than 10 yrs ago. Ok nvm i use another example. OCR new launches like hougang are at $14xx to $15xx psf back in 2019 already..u still expect woodlands OCR to be $1600psf?! U wait long long la. U think chicken rice forever $2 ah?!

@juniorjr5328 29 күн бұрын

@@beedeebee179heng I bought integrated development

@hareshchandiramani4023 Ай бұрын

Josh, thanks & really look forward to your videos :) My question is, the properties are being bought & at higher prices but why are the 2(now) STI listed developers languishing? CDL was 13 odd back in April 2017 and below 5.3 today with higher land prices & their landbank? Could you do a video on the SG developers pls. Thank you!

@joshconsultancy Ай бұрын

Thank you =) This is a question i cannot fully answer myself as an investor Some possibilities 1) Developers all own other properties also, CDL owns M&C hotel and other commercial which see a different landscape 2) Developers face risk from gov changes. The pipeline to profitability is not clear and market doesnt give a good valuation

@hareshchandiramani4023 Ай бұрын

Thank you

@tryolegend Ай бұрын

Overtime the price will go up. Our cpf contribution ceiling has gone up. Also building cost have went up that will also reflect in the property prices. Its not just prices of houses have went up but the purchasing power of the dollar has went down. Prices of property have went up by a lot but so have our groceries. Recently interest rates have been up and it has also put a damp on prices. Those who could not hold would sell at a loss. Properties have also been a place that lots of citizens have kept their wealth in. It would affect the markets if there is going to be a 20% devaluation across the board for properties.

@rickyputra98 Ай бұрын

Hopefully Singapore doesn't end up like China.

@tryolegend Ай бұрын

@@rickyputra98 probably not. You can actually move money out of singapore not like in china where they have much more capital controls

@jlinsy Ай бұрын

@tryolegend this actually helps the argument that prices can explode downwards in Singapore because people can sell and flow the out capital to other countries.

@tryolegend 29 күн бұрын

@@jlinsy it is also true it bolsters trust in the system that encourages flows in. Since they are sure they are able to move the money in and out when they need to. If you cant move or use the money its not your money

@andrewufo 28 күн бұрын

Even money goes up. The old mantra hold 5 10 20 years sure go up is true. But so does money in a compounded deposit. You defend yourself by saying it wont go down 20% but you wont be happy if it remains the same price 5 -10yrs later. Like in 2011 to 2019. Money is heavy

@gabrielchan4420 Ай бұрын

But this also apply to shares right? The STI and S&P also record high? So buy now at 3600, need to sell at 4000?

@joshconsultancy Ай бұрын

Hi Gabriel, there's a difference. Measure the cycle against cycle lows and average growths. Measure against others at current market, thats the part on pulling out comparisons with resale condos around that are 30-50% cheaper

@ohzj 29 күн бұрын

Anyone knows what website is Josh using to see the condo premiums between new launch vs resale at the 6:30 mark?

@wonglienfeng Ай бұрын

SSD may ironically be encouraging people to buy at these prices as they don't need to worry until 3 years later, since most if not all purchasers are all sustaining the fomo/hype and cemented by projects selling out. This makes the risk exposure more tolerable since purchasers won't feel any real pain at the point of committing to the purchase and only need to care about it after 3 years.

@joshconsultancy Ай бұрын

Back in 2010, it was before ssd and flipping paper was rampant. That period was worse. Ssd I feel needs to tweak as speculators have gotten used to 3y timeframes already

@wonglienfeng Ай бұрын

@@joshconsultancy maybe they'll take direction from the increasing MOP period or as suggested to take reference from TOP rather than arbitrary 3yr timeframe from date of purchase.

@jeffreyong3147 Ай бұрын

Hi Josh, Is the premium price we are seeing because of Harmonization floor area? Hence, the inflated PSF...If yes, maybe the premium will not be as high as 50%?

@joshconsultancy Ай бұрын

Marginally changes it only

@dantofl8811 Ай бұрын

@@joshconsultancyI think it’s not marginal. It’s close to 10% or even more. In case you are not aware, it’s not only affecting ac ledge. Having said that I am on your side regarding the hyped up prices. In fact I went to see an EC not long ago in woodlands near Norwood. It’s much cheaper and less than 10 years old; I would have that over Norwood any day of the week.

@MaxGarmin 29 күн бұрын

Thanks Josh for knocking some sense amid all this property madness and a lot of people are likely to get hurt.

@joshconsultancy 29 күн бұрын

Happy to share :)

@AhWing89 29 күн бұрын

Hi Josh, thanks for making this video as it helps me a lot on my family planning. By the way, what do you think about MLT? Seems like MLT manages it's assets better than MPACT this time as MPACT has to sell Mapletree Anson to make it's finances look nicer. While MLT is trying to retains China warehouse tenants to get better long term results.

@joshconsultancy 29 күн бұрын

I’ve done a full tutorial on MLT before. Latest results don’t look good yet unfortunately

@AhWing89 29 күн бұрын

@@joshconsultancy noted and thanks for sharing your view.

@temasekb Ай бұрын

"Buy new launch, tahan 3yrs, sell to bigger carrot and then upgrade," Hope buyer knows whatever happens after signing doesn't concern the agent anymore and they are on their own.

@kevinlim5115 Ай бұрын

There will be a lot of bagholders if the price index stagnates or trends downward. Like musical chairs. As long as the music keeps playing, everyone smiling.

@Godfather1921_melo Ай бұрын

Btw , Are you still waiting for COE to crash in someday ? You wait long long

@exploringapis4495 Ай бұрын

Always remember this. It is easy to buy, never easy to sell

@Godfather1921_melo Ай бұрын

@@exploringapis4495 I have been selling a few units in the past years, u r right , not so easy to sell especially not set at correct price . All the house can sell eventually, just like all the ugly girls in your class in the end they will still find boyfriend to marry after left school. Just set correct price and expectations, all can sell .

@tobacollections2130 29 күн бұрын

@@exploringapis4495but it still sell.. we don’t mean all property sell, only those near MRT and schools.

@hatchegg80 Ай бұрын

yeah but it's not apples to apples, old psf includes sht like void, a/c ledge ... new psf excludes a lot of these

@joshconsultancy Ай бұрын

I know. Even with adjustments it is a slight change. Tembusu grand vs surrounding FH part doesnt have adj needed

@konggg 23 күн бұрын

Jos is right. Do your own research. Can consider older condos.

@kelvinyeo2047 2 күн бұрын

Buying house isn’t just about making fast money. It should be can you afford this house for the next 10-20 years.

@joshconsultancy 2 күн бұрын

Fully agree!

@RZLZMAZB 29 күн бұрын

Singapore property prices are at this level now, because of so many rounds of cooling measures. Imagine without them. 2012-2013 had the hardest cooling measures, like ABSD and LTV. There was stagnation of prices and thus no cooling measures until 2018. To have another stagnation, the government will have to hit with a very significant cooling measure again. That said, the gov's concern is on HDB prices rather than condo prices (doesn't affect the mass population), so this might not be a priority to them. In fact, they are reaping good profits from land sales. The source of buyers now are mainly HDB upgraders, who are sitting on very high cash/cpf pile due to increasing resale flat prices and thus high BTO profits. Coupled with higher household income levels, these condos suddenly become really affordable. We don't know what will happen but with interest rates decreasing, there will be higher demand for good projects, especially near HDB upgrader towns (not those CCR type). Not all new launch condos are doing well. Norwood Grand is attractive because it caters to HDB upgraders, and thus the high demand. The ratio of public housing to good condos are very high, so there will always be buyers for good launches. Therefore, even if there is hype, just don't buy the wrong condo.

@joshconsultancy 29 күн бұрын

Pov noted

@isorokuyamamoto8423 Ай бұрын

Property is a big item ... always need to do your own homework and not just listen to property agents. No car salesman will ever tell you that you don't need a car...

@jeremycheong8036 Ай бұрын

Tbh pay has been going up especially for the top 20%. Additionally, govt has been bringing in wealthy folks. So on a contrary I actually feel that yes price will keep going up.

@joshconsultancy Ай бұрын

pov noted

@joshconsultancy Ай бұрын

Thank you. Record prices won’t persist forever, there will be cycles 👌🏻🙂

@johnchua5369 29 күн бұрын

In order for property prices to sustain, the citizens salary must increase in tandem. Unfortunately it isn’t. If everyone is buying to sell to another person to make a profit, who’s gonna be the one to buy? PAP wouldn’t want the property price to increase sharply anymore because they ain’t able to create enough high paying jobs to sustain this.

@joshconsultancy 29 күн бұрын

Yes that’s why overall trend upward is normal. I did present the new launch premium gap over resale is huge now and likely unsustainable

@jamesk6673 Ай бұрын

The music is played by developers, agents, valuers & banks. And the music goes on until....

@dantofl8811 Ай бұрын

I think you might want to include government in the list

@eugeneleeproperty Ай бұрын

One of the reasons why new launches can sell at high psf is because the units are smaller than resale ones and hence the overall price quantum is a lot lower. A 2 bedrooms compact unit nowadays is around 600 plus sqft, hence even a 2000 psf will translate to 1.2-1.3m. On the flip side, resale two bedder condo unit can be 1000 sqft and hence even at 1.5m, it’s only 1500 psf. Hence, from observations, many buyers who look at new launches are allured to the fact that the new launched units are very affordable in terms of overall price and hence they pay less attention to the psf. Whereas resale condo prices fail to go higher in a much meaningful manner sometimes because an increase in psf will translate to much higher move in price quantum due to its much larger size. Whether it’s another greater fool’s theory playing out or a blue chip investment, it’s up for debate. Hindsight perspective is always 20/20.

@joshconsultancy Ай бұрын

Agree with your points raised

@bkoh1771 Ай бұрын

Agree as well. Josh 50% psf is overhyped. You pay $1.2m for 2b2b unit in Norwood Grand but you pay $1.07m in woodhaven for the similar 2b2b unit. The difference is only 10%. What Josh highlight is the psf difference not the actual transaction price for the same 2b2b unit. There are a lot of wasted space in woodhaven like the bomb shelter and long corridor. Both have enclosed kitchen. Norwood has a dumbell layout which is more efficient in space.

@dantofl8811 Ай бұрын

@@bkoh1771can’t agree that bomb shelter is considered wasted space

@bkoh1771 Ай бұрын

@dantofl8811 lol, why not? New condos bomb shelter is outside at the staircase. Isn't this way more practical? When there is a bomb, at least you have others around and can walk down to level 1 vs. individual shelter. If you are stuck at level 35, who is going to bring you down? That safety aspect aside, you can use the space to have another study room, but instead, the space is fixed. You can't install an aircon, etc. The most is a storage space, which, through designs like an elevated bed, etc, can have similar effects in a new condo.

@dantofl8811 Ай бұрын

@@bkoh1771 lol. You don’t find any use for bomb shelter? I know many ppl do. You are special. lol lol

@tlw4170 27 күн бұрын

If I am a agent, my personal agenda naturally come from commissions & commissions for my income accumulation to enable me to invest in properties which I THINK will make money. Flipping is a very strategic actions to leverage more accumulation of money to gain more and more money. I like only to see that the properties price trend keep going up, because every sale I made gave higher commission gain to me for the effort I put in. I can also sell properties during down trend, but lower commission for my effort put in. I will do my best to keep fueling the hot properties up trending if possible. This does not apply to every single agents. NOTE: If I am a property agents...... We need to understand why property agents, developers, related companies are bullish regardless of bull or bear markets. Collect information what they said or published in media or news papers etc, study them carefully will give you the needed information to deduce what they told you years back really happening?

@Alex-Rainmaker Ай бұрын

Just buy a resale flat in North better. Property just a place for you to sleep. If you wanna spend more time at home, just renovate it nicer.😂

@kumarp9397 24 күн бұрын

Fantastic content as usual. Non biased and evidence based. Thx for the effort

@joshconsultancy 24 күн бұрын

Thank you for the high praise. Share with someone who should see too 👍

@tanpingyi4771 28 күн бұрын

condominiums in Yishun, Woodlands at around 1100 to 1300 psf are a bargain, compared to these new launches. I foresee these projects to play catch up in the coming months and years, especially after Norwood Grand achieves TOP and after SSD period. Reward to risk ratio comes into play

@joshconsultancy 28 күн бұрын

Yes i was highlighting the risk-reward. The price gap has expanded since 2020 and will reverse at some point due to market or due to government measures

@shaunchua4797 Ай бұрын

Thank you for sharing your perspective. It’s insightful and backed up with data from varying sources.

@joshconsultancy Ай бұрын

Happy to share. Share with someone who should hear too 👌🏻

@getrichwithandy Ай бұрын

The g has no interest for the property market prices to crash. Too much citizens' CPF are locked into these properties, and it takes the interest burden away from g (accured interest). If really want to reduce average market prices, stifle mortgage loans lo (LTV 60% or tenure reduced to 25 or 20 years etc). But this won't happen because it is in most citizens' interest for the property market to be buoyant (one of the highest "home ownership"). But this "pass-the-parcel-bomb" game will not sustain, and eventually a future MND minister will have the guts to right this wrong & ridiculous system and mindset; a mindset that "investing in property" is an opportunity to cash out future profit. So expect things to continue with or without property agents' egging buyers if nothing concrete is done. BTW property buyers today have brains to make decisions. We are all mature adults and property agents are not pointing a gun to the buyer's head to sign on the dotted line. Property agents sell new launches the way as DIRECTED by developers' staff, and it is part of our work process and skills. Mature adults today can obviously differentiate between genuine info or a load of bullshit. You choose the ethical agents to deal with, and please all stop conveniently and collectively blaming all property agents because of black sheep you dealt with before. - from a property agent

@thewatcher4896 29 күн бұрын

I said the same thing when new launches like Stirling Residences were starting at 1700-1800psf, Amber Park at $24xx psf etc... Look at their resale transacted prices today...then ppl that missed the boat will say the same thing over and over again..keep waiting for durian price to drop but years gone by, always missing the boat because durian never drop but keep moving up. Things like aiya so exp so exp ah! but haven even collect keys subsale prices shot up 25-30% gains. nobody can predict what the prices will be next 4-5 years time. Just buy what you can afford and comfortable within your means. TDSR already so tight and adds to the prudence part of financial planning, just dont speculate and do your own due diligence.

@tobacollections2130 29 күн бұрын

This is SG. The most millionaire in south east Asia. There is definitely a demand.

@OngWang-e9t 19 күн бұрын

I think all condominium is for foreigner to purchase and Singaporean buy a resale HDB already not enough cash. Why

@joshconsultancy 18 күн бұрын

Majority SG actually. Foreigners have ABSD and not buyung

@EthanTan-wg5wm 29 күн бұрын

So many young couples are buying smaller homes at higher psf thinking the high quantum is manageable just because they can take up long loan tenure. Mistakes like these will hv them stuck for life. 😢

@joshconsultancy 29 күн бұрын

Yes thats why I advocate a lot on prudence. Upgrade within means. Life is never a straight line, avoid over-extending financially

@junjun906 Ай бұрын

U forgot structural decay. a building got both lease and structural decay. So freehold doesn’t always mean better. And generally we siam small project. Haig 162 only got 99 units, what we called boutique project. No volume transaction. This is equivalent to Catalist stock. No liquidity. No volume one. Is ggxx. Try to avoid. Large freehold is okie. In Singapore u need to buy large cap blue chip stock on mainboard. Same as condo, need to buy large volume one, minimally 250 units or preferably 500units. Usually more than 500 ones these are government land sales, so all 99 years lease.

@manofthehour_ Ай бұрын

Yep stay far far away from boutique freehold unless you have money to burn

@junjun906 Ай бұрын

@@manofthehour_ but freehold boutique not as bad as sg small cap catalist ftse

@joshconsultancy Ай бұрын

FH doesnt mean better i agree. But fast forward 20y, do you think Tembusu grand w lease 79y left will still be 30-50% more in psf than Haig 162? If not how will it converge and go below?

@karynTeo Ай бұрын

Ppl speculate no need talk about 20 yr Buy and sell during sub sale.

@wong339 Ай бұрын

40 year old hdb also have demand. If im not wrong, i believe also cross 1mil.

@jorgejoe4269 Ай бұрын

Great video. One of the best videos I have watched. Developers, agents and the G somewhat are in bed together. We have normalized this culture of taking advantage of fellow Singaporeans to get ahead as a norm that should be celebrated. Never actually used an agent. I rented out my investment property myself above market rate for 30-50% to foreigners dealing with the entire process myself. My re-sale condo at Novena, which is relatively new, also by CDL was bought for 17xx psf. compared to woodlands norwood, I think it's a no brainer.

@PPI317 29 күн бұрын

New and resale have a price premium gap though. Just like buying new and 2nd hand car, the depreciation is different. I have a CCR D9 condo and unfortunately it just doesn't perform as well.

@jorgejoe4269 29 күн бұрын

@@PPI317 Actually, we can bet on this, my/your condo vs the transacted prices of the condos mentioned in the video. see in 3 years, which has better ROI (if any)? Also pure analogy, not an apple to apple comparison. Cars are deprecated with COEs, plus engines/spart parts sig decline over time n mileage. Homes too but at much non-linear way. Also say a 2014 Orchard condo vs 2024 new woodlands condo, assume the same specs,unsure why a new condo AKA car in ur terms is better.

@PPI317 29 күн бұрын

@jorgejoe4269 simply because of the new effect. When I first started investing in property I always thought freehold locational attributes near orchard will outperform all the OCR, but fact is since 2011 my CCR condo didn't go up, while all the OCR in ulu locations made 6 digits since 2018. Just need look at OUE twin peaks, Devonshire residences and the losses they made

@jorgejoe4269 29 күн бұрын

@@PPI317 Good point though I think it is less simple than that. Let's examine 1-bedders first. I think from a pure capital gain POV, the data prob supports that OCR return are better at least historically. But you need to note two things. One, cap gains does not account for rental yield over the 3 years. Can google this, data supports that when price into account rental gains, the CCR or city fringe condos do the same or better than OCR for 1-bedders. Second, in the context of this discussion, we need to look forward. Now Norwood woodlands is priced at 2000 psf even for a 1 bedder which is basically a resale CCR 1 bedder price. Moving forward, the capital gain argument or benefit that OCR have over CCR since OCR now is priced as per Norwood and Lentor all at CCR 1 bedder resale prices. Next for 3 bedders, the data supports ur claim as well but I think a lot of times we can't see it purely from a ROI pov bc let's face it. This is the trajectory of most Singaporeans or at least aspiration Step 1: HDB or 1 Bed Private Upgrade to Step 2: 3 Bedder OCR Upgrade to Step 3: 3 Bedder City Fringe/CCR Cannot be that you want to stay Woodlands/Kovan all ur life. So ofc CCR or city fringe less profit cause ppl buy to stay n stay for good, limited supply.

@angmatthew 29 күн бұрын

You yourself admitted that you rented out you investment property 30-50% higher than market rates. So to be fair, property owners are the culprits pushing up rental prices.

@Mike-e1n Ай бұрын

Great sharing Josh! I like your details work out very well analysed. Progressive payment still need to pay …

@joshconsultancy Ай бұрын

Thank you 🙏

@rayang2059 29 күн бұрын

Is it due to inflation as everything else is more expensive?

@joshconsultancy 29 күн бұрын

Asset prices move in cycles. Not just inflation 👌🏻

@henrylee1269 Ай бұрын

Buying properties is akin to buying stocks, be it new launch or resale private there are multi factors to consider. Singapore property prices are more resilient due to strong government policies in terms of strict financing guidelines that both buyers and financial institutions have to adhere to, as well as high stamp duties to curb speculation. With the introduction of these curbs high down payment, TDSR, and ABSD, flipping properties and speculation is close to impossible. As with all assets, prices keep going higher due to; Demand and supply imbalance in this case, our population growth vs limited land supply. 2. Asset inflation-prices of soft and hard commodities, labour wages increase over time, decrease in real value of all fiat currencies. Have your chicken rice, utilties bill, salary increase over time? This is what inflation does over time. So keeping cash may appear safe but it is losing value without you realising it. Investing in property has some advantages: Good prudent leverage- The reason the rich gets richer because of access to cheap money in low interest rate. You can see the response as soon as the Fed cut interest rates As your home sanctuary instead of paying uncertain rental amount.

@joshconsultancy Ай бұрын

Pov noted

@davidwong1976 Ай бұрын

I think you are missing the point. Josh is driving the point that the spread between new launch and resale is irrational. We can't predict future price, but it is easier to determine the relative value between two properties by focusing on the 'spread'.

@ChinHongTeoh 28 күн бұрын

How to register for ur talk

@joshconsultancy 28 күн бұрын

UPDATE 29nov24 - We'd be closing signups today with 40 sign ups already! Act fast, last few seats! Josh Tan Meet 2024 Starting Real Soon! Get Your Tickets NOW ▶ joshtan.link/eventbrite

@heeyang1707 Ай бұрын

Brother Josh, yes it's high. But then I think many can still afford. But still a lot more than can't afford. Inflation is hitting, that's market fundamentals, but many can't keep up and they won't be in the buyer pool.

@jjtbh2005 28 күн бұрын

China is doing badly now, US definitely slowing down and Europe? Downhill especially Germany. What now? If you are buying for your own use and not self-employed, Good Luck. Many Multi-National companies are slashing headcount, world economic slowdown is already ongoing and swelling. Many say, don’t worry, another 3 years TOP. This is the problem as now is the peak rental.

@Boobee2-lf2id Ай бұрын

Hi Josh, thanks sharing. For pple in need to change home due to lease decay, would you then suggest to wait further? It’s kind of unpredictable when the property mkt will cool down? And are you favouring FH properties over LH ones?

@joshconsultancy Ай бұрын

Happy to share =). My first thoughts I think lease decay is sometimes exaggerated abit unless 70yo flat with 29y left. Commercial properties are usually 30y remaining also sometimes

@Pianist7137Gaming 22 күн бұрын

Fed cutting rates, not good time to enter property market?🧐🧐 Think again....

@joshconsultancy 22 күн бұрын

Fed raising rates didn’t stop the up momentum.

@Ace-bm3ys Ай бұрын

The day will come where buyers decided not to pay over 2k/psf. Those owners when couldn’t sustain the mortgage after TOP will receive realistic sucker punch and get into huge woes. Majority wouldn’t be able to flip their property will affect the rest of their life big time.

@liionelbooon 29 күн бұрын

I think there is alot of fear mongering from property agents, saying that prices won't drop etc and using fomo to push people to purchase.

@meilishang663 27 күн бұрын

But price for new launch really wun drop 😢

@invisiblepredator7499 23 күн бұрын

Got older freehold near mrt going for lower price but people like new launch.

@cktan6469 Ай бұрын

Josh waiting for property prices to re-enter as sold HDB, but not coming down soon😢

@ccteo0308 Ай бұрын

Josh I really like your balance view and argument but the “problem” with Sg property is that you just need one goon doo buyer to set the new record price and every agent every realty firm every developer will start using that record price as the new benchmark .. perhaps even the garment use the new record price as their benchmark for GLS. I myself own a property. Unless I am not looking to make a healthy profit from my property sale in the future, then i am being hypocritical if I complain about the state of things now 😂 No one can deny that sg property is a good investment strategy because countless people especially those in the past had make tons of money. But just like stocks there are good and bad properties. And you can flip every 3 years (akin to stock trading) or buy and hold . Those who make the most money are those with strong holding power. Any way, the entry barrier for Sg property as an investment is probably too high for the average Singaporean. I would rather dive into the stock market and capitalize on the AI boom. At least you can start really small and build your way up. And also limit your losses. 😊

@btbt2206 Ай бұрын

At 2.027k psf for Woodlands, it makes condos in RCR Queenstown look cheap. Anytime i rather pay slightly more at $2.3k psf to get 1yr Stirling Residences or 3yr Artra at Redhill.

@Duangduangduang5 29 күн бұрын

stirling residence? you won't able to grab a good unit in Stirling residence at $2.3 kpsf

@btbt2206 29 күн бұрын

@@Duangduangduang5@Duangduangduang5 property guru has 37listings 2.3k psf or below. Midfloor n below. Anytime better than woodlands norwood, Lentor or lakeside condos. Btw I am not agent.

@btbt2206 29 күн бұрын

@@Duangduangduang5@Duangduangduang5 property guru has 37listings 2.3k psf or below. Midfloor n below. Anytime better than woodlands norwood, Lentor or lakeside condos. Btw I am not agent.

@btbt2206 29 күн бұрын

@@Duangduangduang5property guru has 37listings 2.3k psf or below. Midfloor n below. Anytime better than woodlands norwood, Lentor or lakeside condos. Btw I am not agent.