HardwareZone Property Market Update: Community Insights and Analysis (05 Dec – 02 Jan 2025)

Executive Summary

The HardwareZone forum discussions on the Singapore property market reveal a complex and dynamic landscape. Recent topics include delays in HDB resale approvals, new Government Land Sales (GLS) sites, and the ongoing debate about property cooling measures. The community is actively analyzing new launch prices, resale market trends, and the impact of various factors on property values. Key statistics include some projects achieving profits of around 400psf from launch prices and resale prices in D15 reaching 2900-3100 psf. There is also significant discussion around the role of property agents and their impact on market dynamics.

The forum members are particularly focused on the potential for new cooling measures, especially those that could impact first-time buyers and investors. There is a general consensus that the government’s primary focus is on making housing affordable for first-time buyers, while also addressing speculative activities. The community is also actively sharing their personal experiences with property transactions, offering insights and advice to fellow forum users.

Key Developments

New Government Land Sales (GLS)

The Urban Redevelopment Authority (URA) released the 2025 GLS program, which includes several notable sites. A Hougang site with 835 units, integrated with a bus interchange, is attracting attention. Other significant sites include a lakeside plot near an MRT station, a Greater Southern Waterfront site with 740 units, and a Turf City plot with 370 units. These launches are expected to influence market prices and buyer behavior.

2025 gls is OUT – Rxgn (06 Dec 2024)

Resale HDB Approval Delays

Several users reported significant delays in HDB resale approval processes. Case officers cited workload issues and mentioned that approvals were only reaching submissions from early October. This has caused anxiety and financial strain for some buyers and sellers. One user, Lucky1115, shared a detailed experience where their buyer backed out of an agreed completion date, further exacerbating the delays.

Yes, we do. I spoke with our case officer, who promised a timeline by next week. It’s already past 28 working days – Kimmich (05 Dec 2024)

New Launch Pricing and Performance

Discussions revolve around the pricing and performance of recent new launches, with some projects achieving substantial profits. Clavon and Treasure are cited as examples of projects that have seen around 400 psf profits. There’s also concern that as prices increase, the rate of returns may diminish. The launch of projects like EoK and Nava Grove have been noted as well with strong sales.

Clavon and Treasure clocked about 400psf profits from launch prices. – DevilPlate (05 Dec 2024)

Agent Practices and Market Influence

The forum has seen considerable debate about the role of property agents, particularly their influence on sales and pricing. Some users criticize agents for prioritizing sales to their clients, potentially creating an unfair advantage. There are calls for greater transparency and regulation of agent practices, with some suggesting a review of priority sales and potential conflicts of interest.

next step is to outlaw agent priority sales as an anti – competitive measure and gross conflict of interest.. – jeffong (12 Dec 2024)

Community Insights

User Experiences

Several forum users have shared their personal experiences with buying and selling properties. One user, Lucky1115, detailed a stressful situation where their buyer backed out after an agreed completion date, leading to financial difficulties and the need for a bridging loan. Another user, Adrian0307, expressed joy after finally completing their property purchase after a long wait. These firsthand accounts highlight the emotional and financial complexities of property transactions.

Hi I experienced the same and equally anxious because my buyer played me out. – Lucky1115 (06 Dec 2024)

Waited for this day for so long, finally done my completion today. SUPER HAPPY – Adrian0307 (11 Dec 2024)

Tips and Recommendations

Forum members provide practical advice on various aspects of property transactions. One user suggested consulting a lawyer if there is a conflict of interest with an agent. Others have shared tips on managing cash flow for future property purchases and understanding mortgage options. There are also recommendations to thoroughly research property locations and consider factors beyond just price per square foot (psf).

Perhaps you should consult your lawyer instead as there seemed to be a conflict of interest somehow? – AC (07 Dec 2024)

thanks!trying to manage cash flow for possible next pty – tongqinqin (19 Dec 2024)

Important Considerations

The forum discussions highlight several crucial considerations for potential buyers and sellers. Users warn about the potential for rising interest rates and the impact on property values. There are also discussions about the risks of over-leveraging and the importance of understanding loan terms. The potential for new cooling measures is a major concern, with some speculating about increased ABSD or SSD rates.

Be careful what u wish for Zero might means an incoming big crash and your bear gang will rejoice – DevilPlate (10 Dec 2024)

some u tubers say cooling measures coming in 2025 60% loan only for first timer? – ThinkCarefully (08 Dec 2024)

Looking Ahead

The community anticipates potential changes in the housing market, including new cooling measures and adjustments to existing policies. There is a widespread expectation that the government will continue to monitor and regulate the market to ensure affordability for first-time buyers and to curb speculative activities. The upcoming GLS sites and their launch prices will be closely watched, as they are expected to influence market trends. Some users are also anticipating a potential increase in SSD after TOP, which may impact the new launch market.

I suspect they may further reduce or remove developer absd soon. Again that may not be a good thing. – applejack (12 Dec 2024)

many agents on the street already say this is coming maybe that’s why they all rushed into EOK. another option is ssd 5 years: 2/4/8/12/16  – ThinkCarefully (17 Dec 2024)