11/07/2010

Please don't bring down property prices

With so many people kpkb in the internet about high property prices, I mean so many people which is false as there are 80% of flat owners all wanting their property prices to go up, Hsien Loong is also worried. He is quoted to have said, 'the red-hot property market is causing consternation.' Dunno what that means. But for all the property speculators and investors, they will be fuming if the property price falls. We have been entrapped by this high property price that just happened, beyond our control, and let it be known that it must not come down, and cannot come down. Or else bodies will be falling from the sky. High property prices is a good thing as it makes all property owners feeling very rich. The more properties they have, private properties better still, the richer they will become. Let's work harder to keep the property prices higher. We don't want anyone to jump from their flats because their properties become negative assets like in the late 1990s. We have learnt our lessons, that we cannot let property prices drop like coconuts. No consternation. Just maintain the high prices to make property owners happy and everything will be alright. Sure win the next election. The kpkb in the internet is hogwash. Don't believe in them.

10 comments:

Anonymous said...

Love your photos. Very well taken.

Anonymous said...

You don't have to. It is already impossible to bring down property prices without some jumping down from their flats.

Just keep on blowing the bubble and pretend the problem will just vanish into thin air some day.

Matilah_Singapura said...

I have to bring this up again:

At the beginning of the millennium, S'pore property price had deflated to unheard of levels -- landed property below $1m, Orchard Rd rents: $1500 for private condo.

Buyers and renters market. All the buyers and renters happier than a priest in kindergarten. Property owners OTOH mumbling and grumbling about their vacant units, low rental income and depressed market action.

At present the situation is reversed.

You can't have everyone "happy". Low rents and low values mean shiok for greedy buyers and stingy renters, but lousy for bleeding owners.

High prices and rents mean good for greedy owners but bad for bleeding buyers and struggling renters.

At the end of the day, you can't fight the market.

The market price is the price.
Too bad if it sucks for you. Congratulations if it benefits you.

Brining in politics to control or to fix prices only leads to more spectacular painful consequences -- entertainment and opportunity for me, so I don't really care what the Hotel Management do.

Fuck it, let them use the carrot-stick political tool of "housing" to manipulate the silly citizens, and fucking gimme a laugh!

Anonymous said...

What goes up must come down and all good things must come to an end. Greed is at play and bodies flying down from the sky is the price to pay.

Chua Chin Leng aka redbean said...

Morning anonymous. You make it sounds like poetry : )

Anonymous said...

How can high property prices make everyone happy if you have only one property ? Unless you decide to sleep on void deck after selling your flat or if you have tow properties. On the contrary high property prices drive up the cost of living and stress level for the future generations.

Chua Chin Leng aka redbean said...

High property price is bad. That I agree, depending on which side one is. If only one prop, can only smile in glee.

But Singapore property prices are not high. Just affordable. And to many, still very cheep. It can go up another 20%, no problem. But this is only bird talk.

Anonymous said...

What bird talk? A terrace house in Batam was about SID8000 in the 90s for 30 years lease. Now, maybe still below SID 15K, not so sure, sorry.
SID 85K gets a double storey terrace unit in Iskander, freehold somemore and 2.5K sq ft. Area fully guarded.
Just imagine your four room hdb fetches 400K Sin can be turned into how many properties elsewhere. You can be a rajah but you dont know, only complain and kpkb.

Anonymous said...

I envy the Malaysians. Such cheap houses and yet we thought we enjoy a better standard of living in our pigeon holes with all the ridiculous restrictions.

Someone is correct to say that high property prices does not benefit us unless we have multiple properties that we can live in after selling out. For others, we may have to live by the beach or on void decks after selling out.

Chua Chin Leng aka redbean said...

The land lease in Batam is 30 years. Not appropriate for comparison.

For the rich in Singapore, high property prices mean that the rich should be laughing all the way to the bank. For most Singaporeans owning only one property, the only way to realise the monetary value and profit is to sell and get out to a cheaper place.


If Iskandar is so attractive, many would have done so. Now, who would want to live in a cowboy town and risk losing his life and property?

As long as Singaporeans are stuck here, the high value of S$ is meaningless as a plate of chicken rice is $4 or R$8.50. They still have to cough out the S$4 for one meal of chicken rice. Multiply that by 2.5, food alone is S$10 daily on a minimum.