Is Singapore Property Market Crashing?

[@savvyericchiew]

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[@Sundayola2024]

I have learnt so much watching your videos ,God bless this channel always . At this age , we all have to think long term . Focus on your career and goals . Invest money , Find someone you can hustle and pray with . We can no longer afford to waste time .focus on everything that matters in the long run . Stability, Loyalty, Peace of mind .

[@Sundayola2024]

@AliceEmily928 You can go into stock marketing or real-estate , that's the only thing i can recommend for anyone .

[@Sundayola2024]

@AliceEmily928 JOIN

[@Sundayola2024]

@ Vinre2018

[@Sundayola2024]

ON lNSTAGRAM

[@lishr4536]

Eh means Tembusu Grand buyers need to be cautious of this new launch ah? If they really launch only at 22xx then how? Tembusu Grand lugi

[@savvyericchiew]

After harmonisation, should be 2600-2700psf

[@rockatone]

So if some one looking to buy a 3BR in Tembusu Grand or Grand Dunman, would you advise the buyer to wait for this launch to decide which may risk losing the unit of his choice or to just go ahead with buying TG or GD. Thanks!

[@savvyericchiew]

Wait for what launch?

[@rockatone]

@@savvyericchiew sorry the Sim Lian launch at Tembusu referred to in your video

[@savvyericchiew]

@@rockatone ooo upcoming Tembusu launch. Sim Lian bought it very cheap so maybe got slight chance cheap 😆

[@31dragon88]

@Eric Master.. So tampines north ave11..no good school..vs tembusu2 2km via good school.. so it all depends on what entry price and preferences , correct?

[@savvyericchiew]

Yes totally! 👍👍

[@juniorjr5328]

Woodleigh residence facing west sun can consider at 2.3k psf???

[@mmy2955]

Will there be a part 2 of this video? Market sentiment like not so good now

[@savvyericchiew]

www.99.co/singapore/insider/quick-chat-property-savvy-eric-chiew-youtube-personality/

[@equiox]

I brought lentor hill Residences left wing, izzit a good purchase? Since last price going down😢

[@savvyericchiew]

What type?

[@equiox]

@@savvyericchiew 3Bedroom.. about $2024 PSF

[@slh8388]

From where did you see the price coming down?

[@catherinetang1373]

Hi Eric, I hope you will read my comment and would appreciate some advice or thoughts from you. Someone I know is interested in Tampines North Residences. Currently, he owns a 1,260 sq ft 4 bedroom unit at coco palms which he has leased out. If the launch of Tampines North Residences is in Q2 of 2024 (he read on their website), when is a good time to sell his coco palms unit? His plan was to wait for Pasir Ris 8 to TOP in end Nov 2024 but now with the launch of Tampines in Q2 of 2024, how does he avoid paying ABSD for Tampines? Is there a grace period for him to sell coco palms or something? Does he need to sell coco palms first before buying Tampines at launch? Sorry for being so Cheong hey 😛 Thanks lots!

[@savvyericchiew]

Everyone can only own 1 Resi to avoid ABSD. He needs to sell and be ready before the launch day.

[@catherinetang1373]

Thanks, Eric, for the quick reply. Appreciate it! 😊

[@aicaic4030]

In the tech tender, there’s a statement of developer must bear the cost of 0.5ha land of park next to the Tembusu plot. Any estimate how much that cost, eric ?

[@savvyericchiew]

That’s a good pointer why bid price is lower too 👍

[@vikneshvaran]

Great video. Can do a video on the landed market as well. What are your views. Especially for entry level. Thanks

[@savvyericchiew]

I did a few videos few months back. You can check those out 👍

[@Asterisk4014]

The Arden - 1750-1800 psf, 2 bed 2 bath. Can buy?

[@savvyericchiew]

Will review soon 👍

[@melissas2101]

For the Tampines mixed devt plot, isn't there a separate calculation for the residential psf since the total psf includes commerical area as well?

[@savvyericchiew]

You can add more construction costs if you like to 👍

[@ZackChow]

so.. is it crashing?

[@savvyericchiew]

Watch again 🤭

[@liamporter1137]

Price next year will depend on global economy such as whether US will collapse.

[@savvyericchiew]

I heard this too many times 😆

[@zeyingwu344]

In that case that the best property in that area is tembusu grand hor

[@savvyericchiew]

TG is one of the good ones 👍

[@Joseph-ni1mz]

Good review and you are the first youtuber i see that got the gist of the rule change out. Also, noticed the gap betwn first and second bidder have already widened since the allgreen upper bkt timah bid. Would like to comment that your selling prices are closer to breakeven prices. i find alot of youtubers underestimated construction and development cost these days. Simply plugging sq foot's breakeven, generally understates breakeven. The breakeven and selling prices would be higher. Agree that Margin may/may not be lower depending on market conditions upon launch. Developers are also business man / corporate man.

[@savvyericchiew]

🙏🏼🙏🏼

[@wilsontan7391]

Hi Eric thanks for sharing. What’s your thoughts on the BTO in May?

[@savvyericchiew]

Wah I never check sia 😢

[@tkk685]

I bought tembusu grand leh. My heart will be in my mouth till next year….

[@savvyericchiew]

You should be fine 👍

[@airn3ss]

I am one of the carrots you mentioned for GD 😢 cause I went for the view. I really hope I did not make the wrong decision😅

[@savvyericchiew]

Happiness is most important! 🥳

[@airn3ss]

@@savvyericchiew still can be a Huat kueh or not? Please don’t tell me I am already one 🤣😅

[@savvyericchiew]

@@airn3ss 🤭🤭

[@SridharSG97]

Hi Eric, nice video as usual. It is good to know about land prices in Tampines north and Jalan Tembusu. Hope the market will not be crashing as such. Btw, I am waiting for your Altura review.

[@savvyericchiew]

Will rush Altura 👍

[@SridharSG97]

@@savvyericchiew Thanks ☺

[@wwc7134]

So instead of usual 15% profit margin, can i say that developers will sell at 20~22% profit margin due to harmonization?

[@savvyericchiew]

One way or another. Psf will be higher than usual.

[@wwc7134]

@@savvyericchiew arh… then the buyers of GD & TG can breath easy now 😛

[@savvyericchiew]

@@wwc7134 chill 😎

[@splurtz]

This would be double-counting the harmonisation effect. They already bidded 5% - 7% lower for the land due to the harmonisation. If they end up still charging an extra 5% profit margin (20%), then it means the developer is trying to overcharge buyers. Numerically, if original total cost to developer is $100mil, a 15% profit margin means $15mil profit to the developer. Now that the total cost is 5% lower at $95mil, a 15% profit margin means a $14.25mil profit, while a 20% profit margin means a $19mil profit.

[@Stat8989]

@@savvyericchiew provided the market can stomach the prices.

[@luckyrubix]

Eric Shifu @savvyericchiew, Lentor hill residences left side “piaa side”, 3+yard (below 2k psf) for above 10th floor considered safe?

[@savvyericchiew]

You buy already I confirm say 💯

[@luckyrubix]

@@savvyericchiew shifu, haven’t exercise. Got chance still…. Hahaha…. So asking for ur honest opinion. Btw dare to buy cos ur LHR review give not bad review. Hahaha

[@williamhbk8676]

Now Singapore government increases the property tax to 60% for foreign buyers. How to invest and sell property for profits?

[@savvyericchiew]

Don’t buy in areas where foreigners like to buy 😎

[@andreatyx87]

Great insights as always! What do you reckon will be the average launch price of the new Tembusu plot? If 24xx psf but without KH, then TG wins easily.

[@savvyericchiew]

Fair price will be 2300psf 👍

[@franciscody9622]

Government has the power and resources to prevent market crash. It cannot afford a property crash. There will l be "blood on the streets" if the market crashes because majority of CPF money is tied up in public housing.

[@savvyericchiew]

👍👍

[@pearlynyap2689]

updated onemap dont show TG within 1km of KH.. maybe only the northwest stacks can get into 1km by using the magic circle.. CDL TG chui alrdy.. 😂

[@chengyicai8775]

The previous OneMap shows all the buildings in red because the hostel was owned by one entity and input into OneMap as one building. The new buildings will be individual blocks, so you are right, at most 1 block inside. Understand CDL has update their marketing materials already

[@pearlynyap2689]

@@chengyicai8775if true, TG GG 😂

[@BenyongShi]

😢

[@savvyericchiew]

Correct the old one shows all within 1km. New one not updated yet

[@cdang8742]

​​@@savvyericchiewoh my god then if KH is not within 1km of TG so will be 5% loss as per your video???? By the way landed prices are falling, market is stuck at the moment. No new money coming in, govt is blocking new money from flowing in.

[@bbq1441]

Bto review?

[@savvyericchiew]

Sorry not enough time for this. Maybe next 👍

[@adorebeautycare]

Any videos on lake garden residences? :D

[@savvyericchiew]

Coming up!

[@franciscody9622]

No. The crash will likely come when thousands of old HDB flats will start their rapid decline to zero when they reach 70 years old and there will be thousands more added to this each year as lease is used up. These old flats will be unsaleable. They will depress the entire property market for sale and for rental properties. Even freehold properties will be adversely affected because public housing is the base of the market.

[@stanjs]

They are not unsaleable. The rents are too high, so it is cheaper to buy old HDB and stay rather than pay rent.

[@Stat8989]

It will likely have an impact on how people view 99 leaseholds, making freehold property more coveted. Do not agree that it will lower freehold properties as freehold will always be limited in supply. Prices are the effect of demand and supply. Also, the government will not allow the prices to crash too much, for all you know they will come out with new policies to allow the topping up of lease terms. So it will not be as negative. The net impact, is unknown.

[@wwc7134]

@@Stat8989freehold condo overstated. A proj that is 50yrs will not be in proper living conditions. Will need to sell back to developers. Unlike freehold landed, owners can tear down and reconstruct. This is why freehold landed got value

[@Stat8989]

@wwc7134 it's ok. Like u have said, land has value. Regardless of the housing type, all buildings will have to be demolished & and rebuilt in the end. So, freehold condo will still have its value over 99 leasehold, anytime.

[@wwc7134]

@@Stat8989 depends on entry price

[@ghantaphani486]

Hi Eric, can you please review Altura?

[@savvyericchiew]

Yes sure 😆

[@ghantaphani486]

Thanks a lot Eric for your response. I want to upgrade, only EC available right now is Altura in Bukit Batok. I think booking starts from 5th Aug. Appreciate if you can share your thoughts on this EC asap.

[@savvyericchiew]

@@ghantaphani486 noted

[@anivaava]

What do u say about 1. Bank rate and mortgage effects? 2. Economy collapse? 3. More than USD 1million can sustain, with this kind of market adjustment in terms of salaries?

[@savvyericchiew]

1. Not much affect on prices 2. Nope 3. Will continue to have stable growth

[@anivaava]

@savvyericchiew technical sector has been affected due to slowness in economy, which can he a factor of real estate collapse. How can we say that, there will continual growth in this sector? Also, mortgage rates will create dampness in buying(because of higher repayment). If there is sluggish economy, won't it cause buyer slowness and inturn collapse?

[@savvyericchiew]

@@anivaava it will stabilise and not collapse 👍

[@anivaava]

@savvyericchiew thank you Eric. But still not a logical explanation rite?

[@savvyericchiew]

@@anivaava don’t need to think so much. Buy properties to wait… not wait to buy.

[@canonwhale]

Seems like Tenet wasn’t all that great as it’s turning out 😥😥😥

[@savvyericchiew]

Tenet is super good 👍 why did you say that? 😢

[@tenga3tango]

Law of the universe. Immutable. For you to huat , some one in the universe have to kena chop chai tow .

[@savvyericchiew]

I totally agree! Those that haven’t subscribed to my channel 😆

[@steventay5834]

Sell sell sell and run run run

[@savvyericchiew]

😆😆

[@steventay5834]

@@savvyericchiew Prices are very high. Limited upside. Best is to sell. US recession imminent. China's economy is struggling.

[@savvyericchiew]

@@steventay5834 buy good property is more important 👍

[@lauratan7674]

Wah the CCR developer that overpay 40%+ horseh already! Newport the show flat already ready yet still locked up 🤣

[@savvyericchiew]

I’m worried for them 🥲

[@lauratan7674]

Should be hopeful. Scarcely CCR firesale price coz developer lan lan then everyone will be mega mega huat kueh!🎉

[@pp-kd2au]

Is Kingsford the one that did hillview peak and Kingsford peak. If that is the developer gone case. These projects are so badly designed and strictly just profitability on the developers end

[@danieltay3679]

Review on Altura EC?

[@savvyericchiew]

Corrupted file. Need time to redo 😢

[@beny.5736]

Marina Bay property can still market to Americans who have 0% ABSD 😆

[@rayt2324]

tio liao. And also an area they will be working there. Although all sure senior positions, WFH most of the time. It's expat living, man!

[@savvyericchiew]

Need lots of them to buy in order to hit 25% sales 😆

[@jessietay2285]

Learn how to be giant Huat Kuah!

[@savvyericchiew]

👏👏

[@Gorgor9651]

Foreigners sell your property ASAP😅😅😅😅

[@savvyericchiew]

😆

[@tianzheng4064]

I can forsee all agents in any channel will only preach price hike at anytime...haha usual tactic ..

[@savvyericchiew]

They are marketing agent so therefore need to do that 😢

[@tianzheng4064]

@@savvyericchiew I am actually referring to you as well.....before u dive in the content I already can forsee what I will hear

[@savvyericchiew]

@tianzheng4064 I’m not a property agent. Whether you buy or not, doesn’t make any difference.

[@tianzheng4064]

@@savvyericchiew ur company will get some business while people buy properties...last time you r property agent right ? Why deny?

[@savvyericchiew]

@@tianzheng4064 I’m ex banker. Anyway thx for watching 👍

[@1965Singaporean]

As a Singaporean and in 40 year of property investment: 3 years no huat, 5 years sure huat, 10 years huat till buay lin chu. Buy to wait, don't wait to buy 😂

[@savvyericchiew]

Totally 👍

[@wwc7134]

Buy wrong ppty 20yrs later still cannot break even… 😮

[@pinkublacku]

Imagine.. I bought landed at 2.3m in 2011, my friend bought similar landed in similar area in 2019 at 2.8m. At other times, the same landed is about 5-6m. So how can you say anyhow buy at any time leh?

[@savvyericchiew]

Maybe he is referring to non performing ones 😆

[@savvyericchiew]

@@JRambonian if you hold a condo till today. It’s more than double. Landed more than triple 😉

[@kennethleung4487]

Eric shifu @savvyericchiew! what you think about D'Leedon 3BR? Got room for price growth? Any of your videos/resources discuss about this development?

[@savvyericchiew]

3br is always good 👍

[@slx7678]

Hi Shifu Eric! @savvyericchiew Would $1600psf for 3br subsale Treasure at Tampines be worth considering?

[@savvyericchiew]

There’s more factors on top of $1600psf