View Full Version : Will this spread to the property mkt...
http://www.sgcarmart.com/used_cars/listing.php?CAT=15
even merc bmw kena pull back...:cool:
owe $$ pay $$:D:D:D
http://www.sgcarmart.com/used_cars/listing.php?CAT=15
even merc bmw kena pull back...:cool:
owe $$ pay $$:D:D:DAnything can happen. There are many who obviously can't afford BMW or Merc but insist on getting one so default on loan payment so vehicle inevitably kana taken lor. Same as properties lor. Its just that for properties its a bigger issue and more complex in nature. :o
http://www.sgcarmart.com/used_cars/listing.php?CAT=15
even merc bmw kena pull back...:cool:
owe $$ pay $$:D:D:D
......... U can also put your car for auction to see what the best price pple can bid. Doesn't guarantee u have to sell to highest bidder. Not all is kana pull back
Good times also will have repossessed property up for auction.
Was near coronation and saw one bungalow for auction
Can't be as landed is highly demanded
Better price through auction?
New cooling measures effective tomorrow, all foreigners buying 1st home 13% stamp duty upfront. PR 2nd home, 6% stamp duty upfront. Singaporean 3rd home 6% stamp duty upfront.
anyone heard of this from agents yet??
New cooling measures effective tomorrow, all foreigners buying 1st home 13% stamp duty upfront. PR 2nd home, 6% stamp duty upfront. Singaporean 3rd home 6% stamp duty upfront.
anyone heard of this from agents yet??
where the source...:confused:
where the source...:confused:
from few agents posting on fb, and texting msg
probably channel 5 news tonite announce.
*pls check ard wf ur agents
......... U can also put your car for auction to see what the best price pple can bid. Doesn't guarantee u have to sell to highest bidder. Not all is kana pull back
looking at the condition i think all kena pull back...anyway i also try to bid...NO luck...:o
iwantgizmos
07-12-11, 18:41
from few agents posting on fb, and texting msg
probably channel 5 news tonite announce
hard to trust on such rumours...
it has to be release on IRAS website then i will believe ...
from few agents posting on fb, and texting msg
probably channel 5 news tonite announce.
*pls check ard wf ur agents
hmm ok lets wait n c...:cool:
hard to trust on such rumours...
it has to be release on IRAS website then i will believe ...
rumours from the agents, themselves. who wanna break their own rice-bowl?
it doesnt work well for them
from few agents posting on fb, and texting msg
probably channel 5 news tonite announce.
*pls check ard wf ur agents
tune in to channel news asia, updated by fb-ians
http://app.mnd.gov.sg/Newsroom/NewsPage.aspx?ID=3202&category=Press+Release&year=2011&RA1&RA2&RA3
Geylang OKT
07-12-11, 21:39
hard to trust on such rumours...
it has to be release on IRAS website then i will believe ...
SINGAPORE: The government has imposed an Additional Buyer's Stamp Duty (ABSD) for private property of between 3 per cent and 10 per cent for Singaporeans, Permanent Residents and foreigners to moderate investment demand for private residential property and promote a more stable and sustainable market.
The changes take effect on December 8.
Foreigners will pay 10 per cent Additional Buyer's Stamp Duty (ABSD) for any residential property.
Permanent Residents owning one and buying second and subsequent properties will pay 3 per cent ABSD.
Singaporeans owning two and buying a third and subsequent residential properties will pay 3 per cent Additional Buyer's Stamp Duty.
The ABSD will be imposed over and above the current Buyer's Stamp Duty, which are 1 per cent on the first $180,000 of purchase consideration or market value of the property (whichever is higher), 2 per cent on the next $180,000 and 3 per cent for the remainder.
In a joint statement on Wednesday, the Finance and National Development ministries say the government's objective is to promote a sustainable residential property market where prices move in line with economic fundamentals.
They said prices of private residential properties have continued to rise, albeit more slowly in the last two quarters.
Prices are now 13 per cent above the peak in the second quarter of 1996, and 16 per cent above the more recent peak in the second quarter of 2008.
They said that even with the current economic uncertainties, the demand for private residential property remains firm.
Given the uncertainty in stock markets and with interest rates remaining low, private property in Singapore continues to attract local and foreign investors.
They added that excessive investment demand will make the property cycle more volatile, and thus increase the risks to Singapore's economy and banking system.
The government said the higher ABSD rate for foreign buyers in particular is necessary, in view of the large pool of external liquidity and strong buying interest from abroad, and the relatively small size of the Singapore market.
The government said foreign purchases account for 19 per cent of all private residential property purchases in the second half of 2011, up from 7 per cent in the first half of 2009.
For purchases made jointly by two or more parties (eg a Singaporean with a PR, or a PR with a foreigner), the higher applicable ABSD rate will be imposed.
For example, if a citizen purchases a property with a foreigner, the ABSD of 10 per cent will apply.
In the case of a joint purchase by Singaporeans, who each already owns properties, the ABSD of 3 per cent will apply as long as one of the purchasers already owns two properties.
Deputy Prime Minister and Minister for Finance Tharman Shanmugaratnam, said: "We have always had open markets and must keep them that way. However, the reality is that investment flows into our property market are now larger than before, and unlikely to recede as long as interest rates remain low.
"The additional buyer's stamp duty should help cool investment demand, and avoid the prospect of a major, destabilising correction further down the road."
Minister for National Development Khaw Boon Wan said: "We are ramping up the supply of new Executive Condominium units through the Government Land Sales Programme.
"This will help higher-income Singaporeans own private condominium units in an affordable way, as the sale of new EC units is restricted to Singaporean households only."
Singaporean first-time buyers and upgraders, and buyers of HDB flats will not be affected by the new measure.
Certain reliefs will be provided so that the measure will not impact home occupation demand by residents.
For example, relief will be provided for Singaporean-foreigner/PR married couples buying their homes.
Reliefs will also be provided for qualifying developers and for purchases falling within the scope of Singapore's international trade agreements.
The government will continue to ensure an adequate supply of private housing to meet-medium term demand.
There are 41,000 unsold private housing units in the pipeline.
The government will inject sites that can potentially yield a total of 14,100 units in the 1H2012 Government Land Sales (GLS) Programme, similar to the supply in previous GLS programmes.
Of these, about 7,000 units will be from sites on the Confirmed List.
These numbers take into account the ample pipeline supply and the dampening effect of the ABSD.
The government will also expand the supply of executive condominiums (ECs) in 2012 and is prepared to release sites that can potentially yield 5,000 EC units for the entire year.
Sites for 3,500 EC units will be made available in 1H2012, including 3,000 EC units on the Confirmed List.
The Confirmed List quantum is comparable to the 3,000 EC units from five sites sold for the whole of 2011. More details will be provided in the press release for the 1H2012 GLS Programme on MND's website.
The Government will continue to monitor the property market and adjust its property policies in step with changes in the market and the economy.
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