View Full Version : No end to cooling measures! SG property to crash 50%!!!
Ha ha ha!
CM1
CM2
CM3
CM4 - 4 years SSD & 60% LTV &
CM5 - ABSD 10% & 3%
CM6 - Every property owner capital gain tax 50%?
CM7 - All foreigners cannot buy properties in Singapore? :scared-3:
CM8 - All PRs cannot buy properties in Singapore? :scared-2:
No end to cooling measures that seem haphazard and not well thought out! Singapore property prices most probably will crash 50% sooner or later!
All you people there, as long as Singapore property prices don't crash 50%, don't buy! HDB same same! Never ever buy HDB resale properties! :doh:
proud owner
08-12-11, 13:25
Ha ha ha!
CM1
CM2
CM3
CM4 - 4 years SSD & 60% LTV &
CM5 - ABSD 10% & 3%
CM6 - Every property owner capital gain tax 50%?
CM7 - All foreigners cannot buy properties in Singapore? :scared-3:
CM8 - All PRs cannot buy properties in Singapore? :scared-2:
No end to cooling measures that seem haphazard and not well thought out! Singapore property prices most probably will crash 50% sooner or later!
All you people there, as long as Singapore property prices don't crash 50%, don't buy! HDB same same! Never ever buy HDB resale properties! :doh:
are you being sarcastic or are now a Mr B convert ?
give evidents to sustaintiate your 50% leh ..
Ha ha ha!
Why you didn't ask Mr B to justify his 50% crash? :p
I am just quoting his figure mah. He is becoming more like a "Prophet" step by step as time goes by! :eek:
are you being sarcastic or are now a Mr B convert ?
give evidents to sustaintiate your 50% leh ..
Ha ha ha!
Why you didn't ask Mr B to justify his 50% crash? :p
I am just quoting his figure mah. He is becoming more like a "Prophet" step by step as time goes by! :eek:
What if Mr B is KBW? hahahaha...like that in the end he sure win la...
What if Mr B is KBW? hahahaha...like that in the end he sure win la...
hahahahhaha LOL
What if Mr B is KBW? hahahaha...like that in the end he sure win la...No lah... KBW don't look like one who frequently call people 'fools' and 'idiots'... Lol! :o
Below is what I call stupid report just plainly to support the establishment! :doh:
Property cooling measure just out on Wednesday. Thursday they said tender closed with 22 bids despite property curbs? Probably many developers already submitted bids and can't withdraw? :banghead:
Latest cooling measures is the most deadly of all, property prices sure crash and burnt! >50%! May be >60%!!!! Wah ha ha ha! I am waiting! Wah ha ha ha! :spliff2:
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Business Times - 08 Dec 2011
Tender for Upper Bukit Timah site draws 22 bids despite property curbs
SINGAPORE - A Singapore government land tender on Thursday drew a massive 22 bids, the Urban Redevelopment Authority said, signalling developers remained keen to acquire new sites despite tough new measures to cool the city-state's housing market.
The site, in the relatively popular Upper Bukit Timah suburb northwest of the city-centre, attracted a top bid of S$70.80 million (US$55 million) from a company called SCB Terraform.
The top bid works out to S$5,494 per square metre of built-up space, higher than the winning bid of S$4,584 per square metre of gross floor area for a nearby site in a tender last month that attracted 12 bids.
Shares of Singapore developers fell sharply on Thursday after the government took new steps to cool property prices with the toughest measures aimed at foreign buyers who have become increasingly visible in the residential sector.
The Southeast Asian city-state's residential property market has been among the hottest in Asia over the past two years alongside China and Hong Kong. -- REUTERS
Copyright © 2010 Singapore Press Holdings Ltd. All rights reserved.
Business Times - 08 Dec 2011
Tender for Upper Bukit Timah site draws 22 bids despite property curbs
SINGAPORE - A Singapore government land tender on Thursday drew a massive 22 bids, the Urban Redevelopment Authority said, signalling developers remained keen to acquire new sites despite tough new measures to cool the city-state's housing market.
The site, in the relatively popular Upper Bukit Timah suburb northwest of the city-centre, attracted a top bid of S$70.80 million (US$55 million) from a company called SCB Terraform.
The top bid works out to S$5,494 per square metre of built-up space, higher than the winning bid of S$4,584 per square metre of gross floor area for a nearby site in a tender last month that attracted 12 bids.
Shares of Singapore developers fell sharply on Thursday after the government took new steps to cool property prices with the toughest measures aimed at foreign buyers who have become increasingly visible in the residential sector.
The Southeast Asian city-state's residential property market has been among the hottest in Asia over the past two years alongside China and Hong Kong. -- REUTERS
Copyright © 2010 Singapore Press Holdings Ltd. All rights reserved.
Ha Ha Catcha. The last carrot head!!!!!!!!!!!:D
Below is what I call stupid report just plainly to support the establishment! :doh:
Property cooling measure just out on Wednesday. Thursday they said tender closed with 22 bids despite property curbs? Probably many developers already submitted bids and can't withdraw? :banghead:
Latest cooling measures is the most deadly of all, property prices sure crash and burnt! >50%! May be >60%!!!! Wah ha ha ha! I am waiting! Wah ha ha ha! :spliff2:
Agreed. Latest measure slices from the head, while the previous ones sliced from the tail. No tail still can survive but losing one's head ... :scared-3:
phantom_opera
08-12-11, 21:20
Agreed. Latest measure slices from the head, while the previous ones sliced from the tail. No tail still can survive but losing one's head ... :scared-3:
Brilliant summary in one sentence
Geylang OKT
08-12-11, 21:54
70% fall in ppty prices then worth to go in :D
everyone is dreaming to own a small bungalow that will sell for $2m. and a bigger one that will sell for $4m. heh heh.
this weekend can see lots of FIRESALE advert liao....
70% fall in ppty prices then worth to go in :D
wow undertaker good business, and free ribena to drink from reservoir
Geylang OKT
08-12-11, 22:00
wow undertaker good business, and free ribena to drink from reservoir
it really is quite tasty :D :D :D
this weekend can see lots of FIRESALE advert liao....
Actually we r juz talking among ourselves here. Nobody here has fire saled anything. Nobody has jumped into Bedok reservoir. Nobody has shouted immediate 10% discount. We r juz entertaining ourselves.
devilplate
08-12-11, 22:07
this weekend can see lots of FIRESALE advert liao....
I oredi got smses stating firesale today.....
Check wif some agts...u shd get some gd deals
Geylang OKT
08-12-11, 22:07
Actually we r juz talking among ourselves here. Nobody here has fire saled anything. Nobody has jumped into Bedok reservoir. Nobody has shouted immediate 10% discount. We r juz entertaining ourselves.
cos they will shout immediate 20% discount :D
devilplate
08-12-11, 22:08
Actually we r juz talking among ourselves here. Nobody here has fire saled anything. Nobody has jumped into Bedok reservoir. Nobody has shouted immediate 10% discount. We r juz entertaining ourselves.
Dun believe u call a few agts now.....really got some quick sale....not fire yet la....
Geylang OKT
08-12-11, 22:10
Dun believe u call a few agts now.....really got some quick sale....not fire yet la....
Bro, no hurry. Can wait for another 6 mths to 12 mths to see how the plummeting prices pan out :D
devilplate
08-12-11, 22:12
Bro, no hurry. Can wait for another 6 mths to 12 mths to see how the plummeting prices pan out :D
Hoot boleh land better ;)
Yah, wait a few weeks more to decide. Particularly on e property tax for pte condos. So many condos in e pipeline, sure got better deals coming along. Developers r more scare than anybody now. Last time bully buyers into submitting blank cheques than up e launch price. Now muz bully them back.
Geylang OKT
08-12-11, 22:17
Yah, wait a few weeks more to decide. Particularly on e property tax for pte condos. So many condos in e pipeline, sure got better deals coming along. Developers r more scare than anybody now. Last time bully buyers into submitting blank cheques than up e launch price. Now muz bully them back.
No 70% discount No Buy! :D
IMO, its too late for developers to react now. Redas guys should e having some round table meeting now to discuss about how to move forward from here. I expect some might just convert their unsold TOP units to rental instead;
developers will have more muscle in renting and doing the units nicely
now we will see which sellers can run faster
some who hope
some who action
some who talk only
Dear all forumers, property price no drop >80% no buy!!! Please remember!!! :D
No 70% discount No Buy! :D
developers will have more muscle in renting and doing the units nicely
now we will see which sellers can run faster
some who hope
some who action
some who talk only
hmmm.. it's a rental market afterall...:D
some who talk up market,
some who talk down market,
some who just standby the side to see show and wait..
SINGAPORE NEWS
New property curbs seen to cool prices
By Joanne Chan | Posted: 08 December 2011 1241 hrs
New property curbs seen to cool prices
SINGAPORE : The Singapore property market is bracing for a slowdown, with experts predicting a steep drop in transaction volume and prices over the next few months.
This comes after tougher residential property measures kicked in on Thursday, hours after they were announced on Wednesday night.
Under the new measures, foreigners and companies must pay an additional stamp duty of 10 percent of the value of residential property purchases in Singapore.
Permanent residents who buy a second property and citizens who buy three or more properties will pay an extra 3 percent.
The new stamp duty is on top of the prevailing fees of between one and three per cent.
Property buyers hit hardest by the new measure would be foreigners like Norman Lu.
The 34-year-old healthcare consultant arrived in Singapore a year ago to work in a multinational company.
Mr Lu is renting a place, but in the last three months he has been looking to buy a condominium in Paya Lebar or Braddell. However the new rules have put a stop to such plans.
He said: "We are very disappointed. Even though we are foreigners, we have been working in Singapore for a year, we also contribute to this country. So as a foreigner, we feel that the government does not welcome us."
Mr Lu said he was on the verge of closing a deal, but will need to evaluate his options now.
He said: "(There is) 80 per cent (chance that) I will not buy now. I will wait for one year, then I can get PR (permanent resident status) then I will buy a private condo or buy an HDB flat."
His other options include leaving Singapore, "because I can easily find another job opportunity in another country" and "if property owners drop the price by 10 to 15 per cent, then I will buy a condo immediately because I want to stay in my own property."
Market watchers expect transaction volumes in the core region like Orchard Road and Bukit Timah to slump by 40 per cent, because of the significant number of foreign buyers for such properties.
Prices will also be hit, with a possible correction of up to 20 per cent.
Mohamed Ismail, CEO of PropNex, said: "It takes a very bullish decision from a foreigner to come and invest in Singapore in today's market, having to pay a 13 per cent stamp duty upfront, and (being) subjected to the Seller's Stamp Duty in the next four years, of 16 per cent, 12 per cent, 8 per cent, and 4 per cent.
"And even if he sells after four years, if he buys a property today, he must expect at least a 25 to 30 per cent increase in the property price to break even, taking into consideration other costs and interests and all other elements."
Mr Mohamed said there were a few foreigners who had already expressed interest in buying properties and were planning to sign the option papers on Wednesday, but pulled out after the announcement of the new rules.
He added that even though these buyers will not be affected by the higher stamp duty, they felt their returns will be severely impacted.
The mass market segment - which has seen more foreign buyers moving in - is also expected to dip, which may be a boon for Singaporeans.
Mr Mohamed said: "When more foreigners enter the mass market, they are competing with Singaporeans and Singaporeans' aspirations are challenged mainly because the prices keep increasing. Overall, the buyers are now going to wait and see....with such a policy, where is the correction before entering the market."
He added: "I do expect, in the next six months, the mass market properties are likely to see a correction of 10 to 15 per cent."
New developments are springing up all over Singapore, but may soon have difficulties finding buyers. Property watchers expect the market to be fairly quiet over the next one to two months.
December and January normally see fewer transactions due to the school holidays and New Year celebrations. And with the latest round of cooling measures, buyers are expected to adopt a wait-and-see approach, hoping that prices will drop, before dipping their toes into the market again.
- CNA/ck/ms
work here and pay the rent here lor. Still there's a net positive income no? No need to buy a property as well right?
foreigners come here because Singapore offer better job opportunities and living enviroment than their home country and foreigners, who doesnt have plan to plant their roots here, can still pursue their dreams without having to buy property.
for 1 foreigners who kaopeh, I am sure there will be 10 foreigners who will rejoice because finally rental will be more affordable.
devilplate
08-12-11, 23:35
foreigners come here because Singapore offer better job opportunities and living enviroment than their home country and foreigners, who doesnt have plan to plant their roots here, can still pursue their dreams without having to buy property.
for 1 foreigners who kaopeh, I am sure there will be 10 foreigners who will rejoice because finally rental will be more affordable.
No la....foreigner continue to work here and pay rent....den rental cant drop leh
But bcoz such policy turns off foreigners like him, more will leave sg for other countries......den wat happens? ;)
No la....foreigner continue to work here and pay rent....den rental cant drop leh
But bcoz such policy turns off foreigners like him, more will leave sg for other countries......den wat happens? ;)
frankly, i don't think there are many developed countries that are as liberal as we are in hiring foreigners. plus, their rents aren't that cheap.
No la....foreigner continue to work here and pay rent....den rental cant drop leh
But bcoz such policy turns off foreigners like him, more will leave sg for other countries......den wat happens? ;)
perhaps he is just coming to singapore to make money from property instead of working. I see no reason why any foreigners would want to leave because of this.
if it is true, which country do you think will they go to?
devilplate
08-12-11, 23:43
frankly, i don't think there are many developed countries that are as liberal as we are in hiring foreigners. plus, their rents aren't that cheap.
Foreigner cant buy=less sales vol=less biz=more retrenchments=less rental demand=px drop
devilplate
08-12-11, 23:47
perhaps he is just coming to singapore to make money from property instead of working. I see no reason why any foreigners would want to leave because of this.
if it is true, which country do you think will they go to?
Wat makes u tink tat he just come to fry ppty and not bcoz of work? Lol
Previously dun even nid to become pr to buy pte ppty wat....
U pointed out one gd point now! Now many such ft will come and work inorder to get PR and buy ppty.....whahaha
Foreigner cant buy=less sales vol=less biz=more retrenchments=less rental demand=px drop
i think the rental part will be harder to predict, if rental softens, it would be because of weak global macroeconomic setting rather than because of our own measures.
CCR - drop 30%
RCR - drop 15%
OCR - drop 5% then few months later increase again.
HDB resale & new EC will also be affected. And lastly BTO. Chain reaction. :)
devilplate
08-12-11, 23:53
i think the rental part will be harder to predict, if rental softens, it would be because of weak global macroeconomic setting rather than because of our own measures.
This measure itself will create a prolonged period of low sales.....developers less profit den wats the repercussions?
If die die must buy property, the best place is north (Top - got many development coming up, mitigate the impact) & northwest (2nd).
Northeast better think thrice. Got too many gls in 2012 :D
devilplate
08-12-11, 23:56
If die die must buy property, the best place is north (Top - got many development coming up, mitigate the impact) & northwest (2nd).
Northeast better think thrice. Got too many gls in 2012 :D
No 60% drop no buy
This measure itself will create a prolonged period of low sales.....developers less profit den wats the repercussions?
how much employment (not the construction worker sort) does the property development sector contribute? i would actually be very interested to know that figure. not that I have the answer.
how much employment (not the construction worker sort) does the property development sector contribute? i would actually be very interested to know that figure. not that I have the answer.
property agents will be jialat for awhile until buying activities pick up again
If property prices drop 50 or 70% like what all of you hoped for...a lot of people will die...dun be so chek ark la....anyway, if prices tumble more than 30% because of ABSD, I will not vote for pap in 2016 anymore!
No 60% drop no buy
Many want to upgrade buy EC etc will come in. Wldn't drop 60%.
devilplate
09-12-11, 00:16
how much employment (not the construction worker sort) does the property development sector contribute? i would actually be very interested to know that figure. not that I have the answer.
Watever biz related to ppty will kena....
Direct impact will be banks, developer, main con, supplier....
If property prices drop 50 or 70% like what all of you hoped for...a lot of people will die...dun be so chek ark la....anyway, if prices tumble more than 30% because of ABSD, I will not vote for pap in 2016 anymore!
Dun say say only. Action. or u scare got number trace 2 u. By the time, sure forget 1.
devilplate
09-12-11, 00:18
If property prices drop 50 or 70% like what all of you hoped for...a lot of people will die...dun be so chek ark la....anyway, if prices tumble more than 30% because of ABSD, I will not vote for pap in 2016 anymore!
Its not just px correction hor.....ppty px may not even recover to current level again
property agents will be jialat for awhile until buying activities pick up again
My agent fren said b4 this cm, resale alredi quiet. Now worst. Eat grass.
devilplate
09-12-11, 00:20
My agent fren said b4 this cm, resale alredi quiet. Now worst. Eat grass.
Smart ones oredi start pushing their overseas ppty to me....zzzzzzzz
Very nice...very soon capital outflow.....sgd weakening.....inflation up up up.....hosey la!
Time to buy Iskandar
Once bitten twice shy. Clob shares. Dun know you aware or forget.
later you property no pa kay. It is not legal.
devilplate
09-12-11, 00:23
Many want to upgrade buy EC etc will come in. Wldn't drop 60%.
Ok....mabe 20, mabe 40%.... but surely drop! In fact oredi dropped as mentioned by one bro here ;)
devilplate
09-12-11, 00:24
Once bitten twice shy. Clob shares. Dun know you aware or forget.
later you property no pa kay. It is not legal.
Same effect tat will happen for sg ppty market for the foreigners ;)
Smart ones oredi start pushing their overseas ppty to me....zzzzzzzz
Very nice...very soon capital outflow.....sgd weakening.....inflation up up up.....hosey la!
The old man LKY said property price will only go up. Now he is "gone".......
Now seem like cash is king liao. Park everywhere also die. :banghead:
Mr Lu the healthcare consultant can go back to his country if he's so unhappy and we can replace him by a local! :mad:
this is the thing I don't agree, why do they need to own a piece of property to feel welcomed. having a job here isn't welcoming enough?
when we go to London or Sydney to work, do we only feel welcomed when we have bought a piece of their property??
Actually we must thank the developers in building our sweet home. They just earn 10-15% margin considering the high risk they are taking.
Big player still can hold. Mid to small ones, die flat flat.
I dun tin it is right for this cm at this moment of uncertainty. Must observe, so kan chiong. At this rate of increase per quarter, still acceptable mah. Dun know whether he is the right man. Some many people will be affected.
Popular can go back to selling books. Fragrance can go back to running budget hotels, and sub cons can go back to being sub cons.
Popular can go back to selling books. Fragrance can go back to running budget hotels, and sub cons can go back to being sub cons.
Capitaland go back build shopping malls, FEO go build in China instead....lol
I think the developers will all run crying to MBT calling out to him "MBT, we miss you! KBW made life so difficult for us!! "
Actually we must thank the developers in building our sweet home. They just earn 10-15% margin considering the high risk they are taking.
Big player still can hold. Mid to small ones, die flat flat.
I dun tin it is right for this cm at this moment of uncertainty. Must observe, so kan chiong. At this rate of increase per quarter, still acceptable mah. Dun know whether he is the right man. Some many people will be affected.
I think the government is doing this to protect the interest and future of Singapore.
At the moment, there are just too much liquidity in the world (especially china and india) so if government dont put a stop to this, the proportion of foreign buyers could easily surpass 50% when Singaporeans and PR buying slowdown due to the crisis.
I think the developers will all run crying to MBT calling out to him "MBT, we miss you! KBW made life so difficult for us!! "
I am going to vote KBW as transport minister next. He is like the robinhood of Singapore now.
I think the developers will all run crying to MBT calling out to him "MBT, we miss you! KBW made life so difficult for us!! "
Chinese sayin : new post got 3 fires.
I think the government is doing this to protect the interest and future of Singapore.
At the moment, there are just too much liquidity in the world (especially china and india) so if government dont put a stop to this, the proportion of foreign buyers could easily surpass 50% when Singaporeans and PR buying slowdown due to the crisis.
Too fast too furious.
With the earlier cm and the current rate of increase, together with the gloom ahead, dun tin is the right time. Paying almost 30% extra for nothing if gonna sell within the 1st year.
Actually we must thank the developers in building our sweet home. They just earn 10-15% margin considering the high risk they are taking.
Big player still can hold. Mid to small ones, die flat flat.
I dun tin it is right for this cm at this moment of uncertainty. Must observe, so kan chiong. At this rate of increase per quarter, still acceptable mah. Dun know whether he is the right man. Some many people will be affected.Yup... they earn only 10 - 15%. Our lovely govt takes the rest... agents about 1%, we as buyers pay for all of them... including lawyers and bank interest. Wow! We must be filthy rich! :)
I am going to vote KBW as transport minister next. He is like the robinhood of Singapore now.
R u sure? His measure is making buying and selling properties more expensive. Having only 1 or 2 properties cannot make you rich, because most likely it is a roof over your head and you cannot flip the 2nd property now. I haven't seen really good and simple measures that benefit the buyers e.g. reducing the size of huge air-con ledge and balcony.
Yup... they earn only 10 - 15%. Our lovely govt takes the rest... agents about 1%, we as buyers pay for all of them... including lawyers and bank interest. Wow! We must be filthy rich! :)
10-15%? Too low lah. U forgot business expenses? Directors fees, dividends, entertainment expenses, exclusive rights to buy best units at discounts and flip during VVIP (w/o sad)....otherwise how can most tycoons be richest man?
CCR average still below 2007 peak.
OCR average already 20% above 2007 peak.
Why do you think the one that gone up the most will drop the least and then increase again a few months later! :confused:
Actually, all should drop >60% because property in Singapore is foreigners driven! Remember, we have >5m residents but only 3m citizens!
CCR - drop 30%
RCR - drop 15%
OCR - drop 5% then few months later increase again.
HDB resale & new EC will also be affected. And lastly BTO. Chain reaction. :)
It is not healthy in the long term for so many people in Singapore to rely on the property market. Quite a number of forum members here are not of retirement age and yet depending largely on property investment for their living (these are not the agents or people directly in the property line). Maybe it's time to go out and get employment to "diversify" their income source. Then will not be so vulnerable when the property market takes a dive. It's about time to take a reality check. That there are other ways to make a living other than property.
The days of making easy money from property are over.
What if Mr B is KBW? hahahaha...like that in the end he sure win la...
so far one alphabet is correct...b:D:D:D
everyone should Keep Basic Wealth....do not be greedy.....
Inflation already up so much! It's just not captured in CPI index! Remember my chicken rice inflation? :doh:
But I agreed- capital outflow, S$ drop, real inflation up even more!
They think new measure can earn more votes? Let's see, who here will vote oppo because of all these CM? :eek:
Smart ones oredi start pushing their overseas ppty to me....zzzzzzzz
Very nice...very soon capital outflow.....sgd weakening.....inflation up up up.....hosey la!
10-15%? Too low lah. U forgot business expenses? Directors fees, dividends, entertainment expenses, exclusive rights to buy best units at discounts and flip during VVIP (w/o sad)....otherwise how can most tycoons be richest man?
Ask e humble tycoon here.
Think the ABSD not under KBW purview? Should be under MAS & MOF, & the one heading MOF is?
I think the developers will all run crying to MBT calling out to him "MBT, we miss you! KBW made life so difficult for us!! "
Why don't you say the problem is with foreigners to citizens ratio instead? Almost 1:1 now! If this ratio is ok, & more foreigners buy as holiday homes, why cannot? If this ratio too high, they should just stop issuing new any work permits & passes! What has that to do with property prices?
I think the government is doing this to protect the interest and future of Singapore.
At the moment, there are just too much liquidity in the world (especially china and india) so if government dont put a stop to this, the proportion of foreign buyers could easily surpass 50% when Singaporeans and PR buying slowdown due to the crisis.
The govt didn't say cannot buy lah... just strongly discourage foreigners from buying. If want to buy, pls go ahead. The dilemma here is our govt kept emphasizing that Singapore needs FW and FT to work here but don't want them to drive up the property prices... its a tricky business indeed! :scared-4:
Who earn more? As I have said, they bought our land at about $1 psf in 198x even though we are not willing to sell! Now 2011 (20+ years later) they tender & sell at >$400 psf! That is 40,00% !!! :scared-1:
Developer earn even if 30% also look like ants? :doh:
10-15%? Too low lah. U forgot business expenses? Directors fees, dividends, entertainment expenses, exclusive rights to buy best units at discounts and flip during VVIP (w/o sad)....otherwise how can most tycoons be richest man?
If it is not under MND but under MAS, it is a monetary policy to curb hot money, not housing policy to deter foreigner house ownership.
Who earn more? As I have said, they bought our land at about $1 psf in 198x even though we are not willing to sell! Now 2011 (20+ years later) they tender & sell at >$400 psf! That is 40,00% !!! :scared-1:
Developer earn even if 30% also look like ants? :doh:Its 40 000%... :cheers1:
I think the next area they could look at it non-citizens who are not residing here in Singapore but are renting out a HDB flat.
At a cost of $1 psf of land, so why can't govt sell HDB 5 rm flat at $100k (just the construction costs)? :doh:
And the stupid people go buy DBSS HDB 5rm flat at >$700k? :scared-1:
Who earn more? As I have said, they bought our land at about $1 psf in 198x even though we are not willing to sell! Now 2011 (20+ years later) they tender & sell at >$400 psf! That is 40,000% !!! :scared-1:
Developer earn even if 30% also look like ants? :doh:
At a cost of $1 psf of land, so why can't govt sell HDB 5 rm flat at $100k (just the construction costs)? :doh:
And the stupid people go buy DBSS HDB 5rm flat at >$700k? :scared-1:
But all buyers at $100k would be as if they struck toto wor. Would you rather they pay closer to market price for your flat, and you pay less taxes or the other way round. We have such a big population that it's not possible for people not to buy resale HDB at over $500k.
At a cost of $1 psf of land, so why can't govt sell HDB 5 rm flat at $100k (just the construction costs)? :doh:
And the stupid people go buy DBSS HDB 5rm flat at >$700k? :scared-1:Construction cost is typically $200psf so that works out to be about $200k for a 1000 sqft unit, not including inflation. But we must be dreaming if HDB sell us at construction cost. They kept saying they are losing money by selling us BTO cheap cheap, which is about $300k to $500k. Not sure how they calculate their losses. This, not even mentioning the obscene amount of profit they are making through in house mortgage loans capped at an interest rate at least twice that of current bank rates. :banghead:
Don't even get me started on DBSS...
At a cost of $1 psf of land, so why can't govt sell HDB 5 rm flat at $100k (just the construction costs)? :doh:
And the stupid people go buy DBSS HDB 5rm flat at >$700k? :scared-1:
But all buyers at $100k would be as if they struck toto wor. Would you rather they pay closer to market price for their flat, and you pay less taxes or the other way round. We have such a big population that I think it's not possible for people not to buy resale HDB at over $500k. I agree $700k is a bit exaggerated.
Construction cost is typically $200psf so that works out to be about $200k for a 1000 sqft unit, not including inflation. But we must be dreaming if HDB sell us at construction cost. They kept saying they are losing money by selling us BTO cheap cheap, which is about $300k to $500k. Not sure how they calculate their losses. This, not even mentioning the obscene amount of profit they are making through in house mortgage loans capped at an interest rate at least twice that of current bank rates. :banghead:
Don't even get me started on DBSS...
You sound like you have a real bone to pick on dbss. Heh. Speaking of which, because it is not on secured compound, the ground floor units have the highest security risk!
But all buyers at $100k would be as if they struck toto wor. Would you rather they pay closer to market price for their flat, and you pay less taxes or the other way round. We have such a big population that I think it's not possible for people not to buy resale HDB at over $500k. I agree $700k is a bit exaggerated.Yup... buying a $600k HDB resale is anytime better than a $700k DBSS. Plus a complete $100k reno overhaul, the house would look much better than any DBSS plus location is splendid. A $600k resale can get a 5 room in a good location liao! ;)
You sound like you have a real bone to pick on dbss. Heh. Speaking of which, because it is not on secured compound, the ground floor units have the highest security risk!Totally agreed. Even for City View, where there is security gates to the lift lobby, the ground floor is still under security risk coz access into these units can still be possible through windows. :scared-5:
Windows and balconies are the weak spots.
Windows and balconies are the weak spots.
Its the truth! Eeekk! :eek:
Who earn more? As I have said, they bought our land at about $1 psf in 198x even though we are not willing to sell! Now 2011 (20+ years later) they tender & sell at >$400 psf! That is 40,00% !!! :scared-1:
Developer earn even if 30% also look like ants? :doh:
Of coz zeng hu lah....but u new citizen meh? When we were benefiting from their policy, we got give thanks or not? If not happy, then you form your own govt lor or better still leave sinkie land.
Dats why too much of a good thing and many of us will complain when taken away from us. We must learn to play by the rules and be contented. Also, cannot be too greedy.
My family also had land taken away forcibly before. If not, I'll probably be sipping tea at the foothill of mount Faber now. But what to do? Diam diam and play by the rules lah.
CCR average still below 2007 peak.
OCR average already 20% above 2007 peak.
Why do you think the one that gone up the most will drop the least and then increase again a few months later! :confused:
Actually, all should drop >60% because property in Singapore is foreigners driven! Remember, we have >5m residents but only 3m citizens!
CCR - Foreigners acct for 25%, Sg acct 75% which more than 50% for rental and not home stay.
OCR - Foreigners acct for 15% or less, Sg bought mainly for home stay. EC/ HDB resale or upgraders will come in. Those die die middle bracket foreigners have to stay here will find it cheaper to move to OCR. Wait for PR
Many citizens must thank us for selling our land at $1 psf (which actually we were forced to sell and not because we are willing). Imagine we sell at $400 psf as what the private developers is buying now, you think gov can sell HDB flats really at $300 psf? :doh:
Of coz zeng hu lah....but u new citizen meh? When we were benefiting from their policy, we got give thanks or not? If not happy, then you form your own govt lor or better still leave sinkie land.
Dats why too much of a good thing and many of us will complain when taken away from us. We must learn to play by the rules and be contented. Also, cannot be too greedy.
My family also had land taken away forcibly before. If not, I'll probably be sipping tea at the foothill of mount Faber now. But what to do? Diam diam and play by the rules lah.
Of coz zeng hu lah....but u new citizen meh? When we were benefiting from their policy, we got give thanks or not? If not happy, then you form your own govt lor or better still leave sinkie land.
Dats why too much of a good thing and many of us will complain when taken away from us. We must learn to play by the rules and be contented. Also, cannot be too greedy.
My family also had land taken away forcibly before. If not, I'll probably be sipping tea at the foothill of mount Faber now. But what to do? Diam diam and play by the rules lah.
mount faber foothill near where the church is? last time is a cinema right?
yah LTA took a bit of my land away due to road expansion? boh bian and worst? i got to engage topographical surveyor to surrender the land to them. wau lao eh..
mount faber foothill near where the church is? last time is a cinema right?
yah LTA took a bit of my land away due to road expansion? boh bian and worst? i got to engage topographical surveyor to surrender the land to them. wau lao eh..really bo bian.. that's how our govt operates... not only you but many people have experienced that before and will continue to experience it. Ask the Rochor residents and the Nuovo residents... :cheers6:
But a big difference: Now those Rochar & Nuovo residents are paid market rate, based on average of recent transacted prices.
Last time we don't know how they determine the rate: They pay us $1 psf, but if we sell to private developers can sell at >$10 psf. See the difference? :banghead:
really bo bian.. that's how our govt operates... not only you but many people have experienced that before and will continue to experience it. Ask the Rochor residents and the Nuovo residents... :cheers6:
Based on below news, I felt that we are going down the path of no return!
New policies seem to be crafted to reward the majority who can work less, earn more, laze around, wait for govt to introduce policies to benefit them because they are the majority! :doh:
================================
Title : Two groups seen to gain from new property curbs
By :
Date : 10 December 2011 2301 hrs (SST)
URL : http://www.channelnewsasia.com/stories/singaporelocalnews/view/1170588/1/.html
SINGAPORE: As the property market reels from the shock of new curbs to cool prices, some market watchers say two groups will stand to benefit the most.
They are the mass market condominium developers and Singaporeans who are buying their first private property or upgraders.
-> Ok ok, latest cooling measure implemented to help the 80% HDB flats residents' citizens to easily upgrade to private properties at cheap price while can sell their HDB flats at radiculously high resale price? Also to help citizens who own 1 private property to buy a second private property at cheap price (hence no 3% stamp duty)? :doh:
Meanwhile a check on the showflats on the first weekend after the new property curbs took effect showed mixed scenes. While some showrooms were quiet on Saturday, others like the one for the Palette at Pasir Ris saw a steady flow of potential buyers.
Is the quiet scene a sign of the lull that property watchers have predicted in the wake of the new curbs to cool the market? It depends, as it is now the December school holiday period, which is usually quiet on the property front.
Nevertheless, property watchers expect many to adopt a wait-and-see approach in the wake of the new measures.
But one group appears to be paying more attention to the price movements - Singaporeans who do not have to pay the extra buyer's stamp duty for a second property and who think private home prices will dip now that an additional 10 per cent stamp duty has been imposed on foreigners.
SLP International's executive director for research & consultancy, Nicholas Mak, told Channel NewsAsia that the additional tax may deter foreigners buying private properties in Singapore.
-> What "may"? It is a confirmed case! Who want to be treated as carrot head and treated differently in law? Next time they eat must pay 50% more in GST, more in COE, more in ERP, take public transport & taxi need to pay 300% extra fare, etc??? :scared-1:
He said: "The stamp duties to be levied on non-resident foreign buyers are actually very hefty. Going ahead, there'll be market uncertainties and investors are not sure whether their investments are able to recover the stamp duties, or, maybe even be profitable. Hence that additional stamp duty is going to deter some of the short-term speculative buyers."
Singaporeans planning to buy their first private property welcomed the changes.
Managing director Don Tan, a 36-year-old Singaporean with a family of four, said: "Singaporeans can really plan for the future. If it (price) keeps rising, then I think my future generation, there's no place for us already...(In) Singapore, after all, the land is constrained so it's better that we put some control to it (property market) so that Singaporeans are put on a higher priority."
-> Singaporeans already got HDB flats cheap & priority not enough? :banghead:
Might as well ask govt to ensure that GCBs are cheap enough for him to buy?
Mr Jing Yang, 29, an IT engineer, said the new property measures have their pros and cons. He said: "...it might help more Singaporeans to own private property. But if you are doing investment, it's a higher risk now."
SLP International's Mr Mak said that mass market condominium developers should stand to benefit from the new measures.
He said: "The latest round of measures are going to affect different developers differently, because it's going to adversely affect the high-end properties more than the mass market properties.
-> So it seems to the govt that buying Bedok at average $1350 psf is perfectly Ok and reserved for citizens only? Hooray!
"The reason is that high-end properties depend more on investors and also sometimes they are targeted at foreign investors. Hence developers who specialise in high-end properties might be more affected than those who specialise in mass market condominiums.
"Developers of mass market condominiums might look at their product mix. They may want to develop more three-bedroom or larger-size apartments to attract Singaporean buyers who may be planning to buy for their own occupation, because such buyers are not affected or less affected by the latest cooling measures."
-> They don't so? More MMs is more likely as far as we can see the trend!
Mr Mak added some developers are speeding up plans to launch their projects while market conditions remain favourable, before the situation becomes more uncertain next year.
-> Consequences:
- Discourage foreigners to buy at $1350 psf in Bedok now
- Make it easier and seem to entice citizens to buy at $1350 psf in Bedok now
- Foreigners mostly get out, and don't come anymore
- Next year property prices crashed! Cooling measures sure removed sooner or later?
- Foreigners come to buy cheap cheap! Pay 10% ABSD but buy at 70% discount to current price! Hooray!
- Cooling policy benefit who hah? :confused:
- CNA/ir
Dear all, property price no drop 70% don't buy! Keep complaining! You will get you wish sooner or later, otherwise likely by 2016! Otherwise, you know who to vote out? :p
Or if property price crash and you get enticed to buy at high price, e.g. bought Bedok Residences at $1350 psf or more, you know who to vote out? :mad:
***** Disclaimer: Just joking above! If there is any similarity to existing script or scenario, it is just a story, all make up! :D
Based on below news, I felt that we are going down the path of no return!
New policies seem to be crafted to reward the majority who can work less, earn more, laze around, wait for govt to introduce policies to benefit them because they are the majority! :doh:
================================
Title : Two groups seen to gain from new property curbs
By :
Date : 10 December 2011 2301 hrs (SST)
URL : http://www.channelnewsasia.com/stories/singaporelocalnews/view/1170588/1/.html
SINGAPORE: As the property market reels from the shock of new curbs to cool prices, some market watchers say two groups will stand to benefit the most.
They are the mass market condominium developers and Singaporeans who are buying their first private property or upgraders.
-> Ok ok, latest cooling measure implemented to help the 80% HDB flats residents' citizens to easily upgrade to private properties at cheap price while can sell their HDB flats at radiculously high resale price? Also to help citizens who own 1 private property to buy a second private property at cheap price (hence no 3% stamp duty)? :doh:
Meanwhile a check on the showflats on the first weekend after the new property curbs took effect showed mixed scenes. While some showrooms were quiet on Saturday, others like the one for the Palette at Pasir Ris saw a steady flow of potential buyers.
Is the quiet scene a sign of the lull that property watchers have predicted in the wake of the new curbs to cool the market? It depends, as it is now the December school holiday period, which is usually quiet on the property front.
Nevertheless, property watchers expect many to adopt a wait-and-see approach in the wake of the new measures.
But one group appears to be paying more attention to the price movements - Singaporeans who do not have to pay the extra buyer's stamp duty for a second property and who think private home prices will dip now that an additional 10 per cent stamp duty has been imposed on foreigners.
SLP International's executive director for research & consultancy, Nicholas Mak, told Channel NewsAsia that the additional tax may deter foreigners buying private properties in Singapore.
-> What "may"? It is a confirmed case! Who want to be treated as carrot head and treated differently in law? Next time they eat must pay 50% more in GST, more in COE, more in ERP, take public transport & taxi need to pay 300% extra fare, etc??? :scared-1:
He said: "The stamp duties to be levied on non-resident foreign buyers are actually very hefty. Going ahead, there'll be market uncertainties and investors are not sure whether their investments are able to recover the stamp duties, or, maybe even be profitable. Hence that additional stamp duty is going to deter some of the short-term speculative buyers."
Singaporeans planning to buy their first private property welcomed the changes.
Managing director Don Tan, a 36-year-old Singaporean with a family of four, said: "Singaporeans can really plan for the future. If it (price) keeps rising, then I think my future generation, there's no place for us already...(In) Singapore, after all, the land is constrained so it's better that we put some control to it (property market) so that Singaporeans are put on a higher priority."
-> Singaporeans already got HDB flats cheap & priority not enough? :banghead:
Might as well ask govt to ensure that GCBs are cheap enough for him to buy?
Mr Jing Yang, 29, an IT engineer, said the new property measures have their pros and cons. He said: "...it might help more Singaporeans to own private property. But if you are doing investment, it's a higher risk now."
SLP International's Mr Mak said that mass market condominium developers should stand to benefit from the new measures.
He said: "The latest round of measures are going to affect different developers differently, because it's going to adversely affect the high-end properties more than the mass market properties.
-> So it seems to the govt that buying Bedok at average $1350 psf is perfectly Ok and reserved for citizens only? Hooray!
"The reason is that high-end properties depend more on investors and also sometimes they are targeted at foreign investors. Hence developers who specialise in high-end properties might be more affected than those who specialise in mass market condominiums.
"Developers of mass market condominiums might look at their product mix. They may want to develop more three-bedroom or larger-size apartments to attract Singaporean buyers who may be planning to buy for their own occupation, because such buyers are not affected or less affected by the latest cooling measures."
-> They don't so? More MMs is more likely as far as we can see the trend!
Mr Mak added some developers are speeding up plans to launch their projects while market conditions remain favourable, before the situation becomes more uncertain next year.
-> Consequences:
- Discourage foreigners to buy at $1350 psf in Bedok now
- Make it easier and seem to entice citizens to buy at $1350 psf in Bedok now
- Foreigners mostly get out, and don't come anymore
- Next year property prices crashed! Cooling measures sure removed sooner or later?
- Foreigners come to buy cheap cheap! Pay 10% ABSD but buy at 70% discount to current price! Hooray!
- Cooling policy benefit who hah? :confused:
- CNA/ir
Allthepies
11-12-11, 11:59
Dear all, property price no drop 70% don't buy! Keep complaining! You will get you wish sooner or later, otherwise likely by 2016! Otherwise, you know who to vote out? :p
Or if property price crash and you get enticed to buy at high price, e.g. bought Bedok Residences at $1350 psf or more, you know who to vote out? :mad:
***** Disclaimer: Just joking above! If there is any similarity to existing script or scenario, it is just a story, all make up! :D
Yup Singapore is now filled with more and more whiners. Teddy bear don't worry, look north, now much better prospect than here...:D
Singaporeans are too used to a good life and take for granted what we have. At the same time, our arms are tied (virtually) by the fear that has been programmed in us and the only things that allow us to let off some frustration are our mouths in coffee-shops and lately internet forums.
Yup Singapore is now filled with more and more whiners. Teddy bear don't worry, look north, now much better prospect than here...:D
I think the next area they could look at it non-citizens who are not residing here in Singapore but are renting out a HDB flat.
Totally agree. This pool is large.
Totally agree. This pool is large.
I said hdb is next. Don't wrry.
with khaw boon wan on fb page, I even happen to read my frds complaints!!:cheers1:
Dear all, property price no drop 70% don't buy! Keep complaining! You will get you wish sooner or later, otherwise likely by 2016! Otherwise, you know who to vote out? :p
Or if property price crash and you get enticed to buy at high price, e.g. bought Bedok Residences at $1350 psf or more, you know who to vote out? :mad:
***** Disclaimer: Just joking above! If there is any similarity to existing script or scenario, it is just a story, all make up! :D If prices drop, buyers will be happy. If prices rise, sellers will be happy. In any situation, there'll be 50% buyers and 50% sellers lah (rough estimate) so voting in or out is cancelled away... :scared-2:
Wrong! Policy directly affect >80% citizens, so if correct get more votes.
If wrong, oh my god, all hell break loose! Gov turn blue from white? :doh:
If prices drop, buyers will be happy. If prices rise, sellers will be happy. In any situation, there'll be 50% buyers and 50% sellers lah (rough estimate) so voting in or out is cancelled away... :scared-2:
U guys forgot liao? During GE, oppo pull out some report saying Spore's rich-poor gap Gini index is one of the highest in the world, 42+.
Let's complain also la, gov should sell citizen land cheap cheap & not to developers so that we build our own house, swee bo.
phantom_opera
11-12-11, 17:27
The actual property purchase by foreigners is actually much higher than reported as some of them buy through proxy e.g. if my son is SPR or SPC, i buy through him for investment purpose ... this cm5 is basically sending a signal to say
1. foreigners are not welcome to buy
2. for SC own one hdb and one private is ok, owning more is a sin, for SPR, yo better be happy with roof over your head only
3. cm6 is a possibility if price continue to grow at 1-2% per quarter
In short, the era of getting "fantastic" capital appreciation from multiple property investment is over ... it will take donkey years to surpass the current peak as smart money will get the hint and quickly exit .. dun you see big funds get the hint already and press exit button in CDL/CAPL stocks?
Like what amk said, buying property is for capital appreciation, if just for collecting rent, there exists better alternatives ... if you know zero potential for capital appreciation in next 5y, why still hold? Prices must at least correct 30% for potential for capital appreciation to be attractive again imho
Oh no, this time round, worse than Lehmans, so must drop 70 to be worth the while! Worse still, citizens get the impression that it is gov responsibility to help them to get affordable Private properties, not just HDB flats!
The actual property purchase by foreigners is actually much higher than reported as some of them buy through proxy e.g. if my son is SPR or SPC, i buy through him for investment purpose ... this cm5 is basically sending a signal to say
1. foreigners are not welcome to buy
2. for SC own one hdb and one private is ok, owning more is a sin, for SPR, yo better be happy with roof over your head only
3. cm6 is a possibility if price continue to grow at 1-2% per quarter
In short, the era of getting "fantastic" capital appreciation from multiple property investment is over ... it will take donkey years to surpass the current peak as smart money will get the hint and quickly exit .. dun you see big funds get the hint already and press exit button in CDL/CAPL stocks?
Like what amk said, buying property is for capital appreciation, if just for collecting rent, there exists better alternatives ... if you know zero potential for capital appreciation in next 5y, why still hold? Prices must at least correct 30% for potential for capital appreciation to be attractive again imho
devilplate
11-12-11, 18:22
Hdb 400psf, Ocr 600psf, rcr 800psf, orchard 1kpsf....
Narrow rich and poor divide
Admittedly, their jobs are not easy. However, it is crucial that policies be consistent in order to retain the confidence of investors and citizens.
Sacrificing either buyer or seller in the property equation is not the right way forward. Prices are increasing because of market forces. Instead of taking the short-cut of artificially forcing prices down, policy-makers should crack their heads on how to help aspiring property-owners achieve their goals of buying properties through enhancing their incomes and abilities.
It is like the COE system. The fundamental problems with the transport network are due to insufficient capacity and poor road design. Slapping punitive taxation (ARF, COE, road-tax) may work for a while but eventually the flawed foundation will still give way and cause the entire system to crack.
Instead of wasting precious time, patting themselves on their own backs and basking in the false sense of security that the artificial COE, ARF, etc measures are working, policy-makers need to work on bolstering the fundmentals and foundation. E.g. population growth needs a corresponding increase in transport network capacity, that has to be worked on pre-emptively and not reactively.
If prices drop, buyers will be happy. If prices rise, sellers will be happy. In any situation, there'll be 50% buyers and 50% sellers lah (rough estimate) so voting in or out is cancelled away... :scared-2:
devilplate
11-12-11, 19:36
Use the key.....spend the reserves ;)
CyrusChang
11-12-11, 19:37
Buyers feel like houses is overprice...how?
Buyers feel like houses is overprice...how?
Increase property tax 20 times if you do not reside in the house forcing owners to sell?
Geylang OKT
11-12-11, 20:35
Think about it. A 3rm hdb flat in Toa Payoh 2006 rental (furnished, aircon, near MRT) is just $900-$950 (tops). The sale price range from $185k to 196k. Nowadays asking prices are $400k and slightly negotiable only :D
Rental (2006) $900
Rental (2011) $2,200
Sale (2006) $196,000
Sale (2011) $388,000
As you can see, the rental and even sale prices have appreciated by leaps and bounds, rentals by 150% :D
devilplate
11-12-11, 20:49
Buyers feel like houses is overprice...how?
Every household only 1 ppty, hold multiple ppty need to sell within 6 mths ;)
devilplate
11-12-11, 20:50
Think about it. A 3rm hdb flat in Toa Payoh 2006 rental (furnished, aircon, near MRT) is just $900-$950 (tops). The sale price range from $185k to 196k. Nowadays asking prices are $400k and slightly negotiable only :D
Rental (2006) $900
Rental (2011) $2,200
Sale (2006) $196,000
Sale (2011) $388,000
As you can see, the rental and even sale prices have appreciated by leaps and bounds, rentals by 150% :D
Only hdb allowed to rise, pte ppty must crash until every lion sons can afford at least one ppty in orchard ;)
Buyers feel like houses is overprice...how?
Eh, r u a property agent from Malaysia?
Increase property tax 20 times if you do not reside in the house forcing owners to sell?
good idea.. this for the next CMs.??
devilplate
11-12-11, 21:34
good idea.. this for the next CMs.??
Rental income 50%Tax ;)
Rental income 50%Tax ;)Then its time to sell the investment properties... not economically viable anymore... :cheers1:
devilplate
11-12-11, 22:08
Then its time to sell the investment properties... not economically viable anymore... :cheers1:
No more passive income from ppty
Encourage citizens to work till 80yo ;)
Think about it. A 3rm hdb flat in Toa Payoh 2006 rental (furnished, aircon, near MRT) is just $900-$950 (tops). The sale price range from $185k to 196k. Nowadays asking prices are $400k and slightly negotiable only :D
Rental (2006) $900
Rental (2011) $2,200
Sale (2006) $196,000
Sale (2011) $388,000
As you can see, the rental and even sale prices have appreciated by leaps and bounds, rentals by 150% :D
Did rental increase so much between 2006 to 2011? If yes, I do not see a bubble in Singapore property market! Is this 150% increase over 5 years representative of the whole of Singapore? In Malaysia, rental only increased by about 30% to 40% over the same period of time. Even then, certain areas, no increase at all!
Geylang OKT
12-12-11, 05:24
Did rental increase so much between 2006 to 2011? If yes, I do not see a bubble in Singapore property market! Is this 150% increase over 5 years representative of the whole of Singapore? In Malaysia, rental only increased by about 30% to 40% over the same period of time. Even then, certain areas, no increase at all!
Truth be told, it would not be an exaggeration that even at $2,200 rentals for a 3rm hdb flat, the units were being rented as soon as they were put on the market. Who are the dastardly culprits? The kinky pinoys and lusty caucasians with their spgs ;) :D
Yup... hdb being the lowest tier of the rental market will always be the last to fall.. :rolleyes:
devilplate
12-12-11, 09:22
Did rental increase so much between 2006 to 2011? If yes, I do not see a bubble in Singapore property market! Is this 150% increase over 5 years representative of the whole of Singapore? In Malaysia, rental only increased by about 30% to 40% over the same period of time. Even then, certain areas, no increase at all!
bolehland ppty da boleh leh....
i heard goto chase after rental payment too.....
only buy and leave it vacant?
bargain hunter
12-12-11, 10:11
even if u ask some trusted person to collect rental for u, that person will also eventually run road or refuse to pay u type. hahaha.
bolehland ppty da boleh leh....
i heard goto chase after rental payment too.....
only buy and leave it vacant?
Ha ha ha!
CM1
CM2
CM3
CM4 - 4 years SSD & 60% LTV &
CM5 - ABSD 10% & 3%
CM6 - Every property owner capital gain tax 50%?
CM7 - All foreigners cannot buy properties in Singapore? :scared-3:
CM8 - All PRs cannot buy properties in Singapore? :scared-2:
No end to cooling measures that seem haphazard and not well thought out! Singapore property prices most probably will crash 50% sooner or later!
All you people there, as long as Singapore property prices don't crash 50%, don't buy! HDB same same! Never ever buy HDB resale properties! :doh:
will this ever happen to singapore? the garments will never walk backwards. price will continue to climb. up up up and up. the same goes to COE.
musn't forget, who call the shots?
devilplate
12-12-11, 11:26
will this ever happen to singapore? the garments will never walk backwards. price will continue to climb. up up up and up. the same goes to COE.
musn't forget, who call the shots?
VOTERS CALL THE SHOTS
so only can make pte ppty CRASH and not HDB px ;)
VOTERS CALL THE SHOTS
so only can make pte ppty CRASH and not HDB px ;)
later on entry level condo cheaper than HDB flats then how,
crash HDB pricing again? no end leh...
devilplate
12-12-11, 12:05
later on entry level condo cheaper than HDB flats then how,
crash HDB pricing again? no end leh...
wun happen one la....
crash until certain level all the hdb upgradders chiong in liao
hdb 400psf, ocr condo 600psf ;)
checking/deliberating on the past only helps to bring others upto speed. good samaritan
CMs are not forever...only is to guess/determine/forecast/ ...... when those CMs will be lifted and which one will be lifted first
COE for cars is different from property..
who controls the COE supply...
who controls the supply of houses...
but demand and supply forces apply in both.
COE - supply restricted demand increases prices move up.
2013/2014 supply increases with more cars expected to be scrapped...demand stable..prices would fall back
Property - demand increases supply tight prices move up..
next 2012...demand lower with higher unemployment/layoffs (or even flat) ...supply increases with new projects TOP in 2012, prices should fall back.
CM measure...also dampens demand from niche market foreigners.
also dampens interest from locals...but developers counteract by discounts - probably net out the negative impact of latest CM
smaller developers - probably hit...as not able to offer discounts versus bigger developers
checking/deliberating on the past only helps to bring others upto speed. good samaritan
CMs are not forever...only is to guess/determine/forecast/ ...... when those CMs will be lifted and which one will be lifted first
CMs are not permanent but not to put the fate onto policy makers to remove CMs.
Alway control and steer in your preferable,manageable direction, whenever there's an obstacle in ur path.
Otherwise the neck will be long from waiting from CMs removal or assist
The fundamental reasons why foreigners park their money here didn't changed overnight post-CM5. Only thing now is whether with CM5, are they willing to pay another 10% 'entrance fee' or not, that's all. I think prices will not drop more than 10% next year unless there is a financial crisis. Resale market will go into paralysis for sure with buyers and sellers not budging for the next few months (deja vu). My 2 cents.
The fundamental reasons why foreigners park their money here didn't changed overnight post-CM5. Only thing now is whether with CM5, are they willing to pay another 10% 'entrance fee' or not, that's all. I think prices will not drop more than 10% next year unless there is a financial crisis. Resale market will go into paralysis for sure with buyers and sellers not budging for the next few months (deja vu). My 2 cents.I concur... :)
phantom_opera
12-12-11, 14:14
The fundamental reasons why foreigners park their money here didn't changed overnight post-CM5. Only thing now is whether with CM5, are they willing to pay another 10% 'entrance fee' or not, that's all. I think prices will not drop more than 10% next year unless there is a financial crisis. Resale market will go into paralysis for sure with buyers and sellers not budging for the next few months (deja vu). My 2 cents.
Are you sure there will not be CM6 asking foreigners to pay 25% or 50%? Mainland Chinese buy just to park money (or wash money). They don't even look for fantastic capital gain ... now buy straight away 13% loss ... they will be out of their brain to buy anymore ... risking another CM6
WenZhou tai tai may not be educated but they are not stupid, i think hot money will shift into stocks soon when China-A hit 2-2.2k range
Bear in mind many ppl also buy through proxy, they can buy the whole block of a project (Taiwan gal who bought Reflection ...), now if buy through SPR/SPC also must pay almost 6% duty upfront ...
Why not? Buy private must pay 100% ABSD! Buy HDB don't need. So HDB prices in $PSF become higher than private! :beats-me-man:
wun happen one la....
crash until certain level all the hdb upgradders chiong in liao
hdb 400psf, ocr condo 600psf ;)
Are you sure there will not be CM6 asking foreigners to pay 25% or 50%? Mainland Chinese buy just to park money (or wash money). They don't even look for fantastic capital gain ... now buy straight away 13% loss ... they will be out of their brain to buy anymore ... risking another CM6
WenZhou tai tai may not be educated but they are not stupid, i think hot money will shift into stocks soon when China-A hit 2-2.2k range
Bear in mind many ppl also buy through proxy, they can buy the whole block of a project (Taiwan gal who bought Reflection ...), now if buy through SPR/SPC also must pay almost 6% duty upfront ...
Hi PO,
So you think that our govt die-die no-matter-what wants to see prices, just for argument sake, freefall 30% from today's levels?
phantom_opera
12-12-11, 17:39
Hi PO,
So you think that our govt die-die no-matter-what wants to see prices, just for argument sake, freefall 30% from today's levels?
Of course they will not openly admit it but STI headlines big big "property may correct 30%" u think no need approval from garmen?
And why property counters crashed 14% in 2d? Note property developers like CAPL/CDL are well diversified, 14% crash means the sellers probably write off any decent future profit from SG residential segment already
CM5 also includes rules for developers to sell everything in 5y otherwise get hit by 10% tax, which effectively kills off any decent enbloc ... those who bought recently hoping for enbloc what will they do? I am sure this applies too to HUDC enbloc
Those who sold off developers down 14% are the smartest of the smartest ... volume is very very high ... big funds unloading hoh
devilplate
12-12-11, 17:42
Hi PO,
So you think that our govt die-die no-matter-what wants to see prices, just for argument sake, freefall 30% from today's levels?
if u noticed my past posting....i nvr say px will drop for cm1-4....cm4 i tot ccr may drop abit....but heng heng hold up well.....
this round...CONFIRMED DROP!!!!!!!!! in fact oredi drop wat....so many sellers drop px by 5-10% liao.....go offer dbr 2bdr at 850k...u may just get it ;)
i guess 20% on average.....some drop less some drop more....lets see ;)
Of course they will not openly admit it but STI headlines big big "property may correct 30%" u think no need approval from garmen?
Of course they need approval.
It's the garmen who told them to write that.
Remember KBW has been blogging to influence the market sentiment for the past half a year? Did it work? No!
That's why we have this new CM.
But still, garmen don't know whether it will work. So they get ST to report that to influence sentiment again. :rolleyes:
Our garmen is very good at using local media to influence people. People believe too much of what they read but fail to read between the lines.
Aiyo, why people think foreign funds die die must buy local residential property. The big ones will be buying commercial space and probably by the buildings. Residential is masak masak to some of these guys.
Of course they need approval.
It's the garmen who told them to write that.
Remember KBW has been blogging to influence the market sentiment for the past half a year? Did it work? No!
That's why we have this new CM.
But still, garmen don't know whether it will work. So they get ST to report that to influence sentiment again. :rolleyes:
Our garmen is very good at using local media to influence people. People believe too much of what they read but fail to read between the lines.
Any slump in property prices are going to affect primarily buyers who had sign a contract in the last 12 months at peak market prices.
If the analysts/goverment are right about the magnitude of price depreciation, these homeowners (including citizens) could be have a negative home equity situation. Is the government going to compensate this group?
Any slump in property prices are going to affect primarily buyers who had sign a contract in the last 12 months at peak market prices.
If the analysts/goverment are right about the magnitude of price depreciation, these homeowners (including citizens) could be have a negative home equity situation. Is the government going to compensate this group?
Govt have been giving out warnings. To hold ur purchase and high price not sustainable
Too bad to those who dont heed their advise
Compared with the HDB owners, the above group is still a minority. (ironically in the past 12 months the segment recorded the most transactions are OCR new sales, and majority of the buyers are ordinary middle class singaporeans :cool: The CCR segment has very little activity. The real wealthy ones stop playing after Jan 11)
The biggest complaint in GE are housing and foreigner. The gov has decided to deal with it. Dun fight with ah gong.
... Although I personally felt some OCR prices are way over their limits, i.e. Sengkang 1100psf, Bedok 1350psf, the singaporeans buying them at least can afford them. They are also buying their Singapore dream. Now they are punished, by the populist policy of the government. And the other group welcome this policy as it helps them to achieve their singapore dream. :rolleyes:
from what i'm seeing in this forum, alot cash out and renting....
so, i guess they are all sleeping soundly....
vaguely remember one Peter who wanted to cheong a second property, i hope he didn't do it and now have ample time to look for good buys....
proud owner
12-12-11, 20:37
later on entry level condo cheaper than HDB flats then how,
crash HDB pricing again? no end leh...
in 2004-5
some FH condos in D5's psf were the same as HDB in marine parade
in 2004-5
some FH condos in D5's psf were the same as HDB in marine parade
West coast wasn't really on the radar until the last 5 years.
Allthepies
12-12-11, 21:13
Compared with the HDB owners, the above group is still a minority. (ironically in the past 12 months the segment recorded the most transactions are OCR new sales, and majority of the buyers are ordinary middle class singaporeans :cool: The CCR segment has very little activity. The real wealthy ones stop playing after Jan 11)
The biggest complaint in GE are housing and foreigner. The gov has decided to deal with it. Dun fight with ah gong.
... Although I personally felt some OCR prices are way over their limits, i.e. Sengkang 1100psf, Bedok 1350psf, the singaporeans buying them at least can afford them. They are also buying their Singapore dream. Now they are punished, by the populist policy of the government. And the other group welcome this policy as it helps them to achieve their singapore dream. :rolleyes:
waiting eagerly for CM 6 to 10... if I can't buy Ardmore Park, I'm not going to vote for the ruling party.... by the way my income is $3000 per mth :D
Geylang OKT
12-12-11, 22:23
crash and burn :D
waiting eagerly for CM 6 to 10... if I can't buy Ardmore Park, I'm not going to vote for the ruling party.... by the way my income is $3000 per mth :D
Try threatening MND with suicide. It might work better.
http://news.insing.com/tabloid/man-threatens-hdb-with-suicide/id-c61f3f00
stalingrad
13-12-11, 06:48
Any slump in property prices are going to affect primarily buyers who had sign a contract in the last 12 months at peak market prices.
If the analysts/goverment are right about the magnitude of price depreciation, these homeowners (including citizens) could be have a negative home equity situation. Is the government going to compensate this group?
of course not. many of these buyers still have time to let their options expire, and they are not. why not? because they think prices will continue to go higher. then why should the government compensate them for their loss? they have themselves to blame, or their greed.
waiting eagerly for CM 6 to 10... if I can't buy Ardmore Park, I'm not going to vote for the ruling party.... by the way my income is $3000 per mth :D
This is my country, this is my home
I can buy hdb, and private condo
No more foreigner buyers, we are happy
Property cheap cheap now, Singaporeans
We are Singapore, Singaporeansssssssssssssss
blackjack21trader
13-12-11, 07:14
This is my country, this is my home
I can buy hdb, and private condo
No more foreigner buyers, we are happy
Property cheap cheap now, Singaporeans
We are Singapore, Singaporeansssssssssssssss
:cheers4: remember,this credit goes to the MIW hor.
phantom_opera
13-12-11, 07:25
WaTch out for china A today if laosai confirmed up lorry liao
buttercarp
13-12-11, 07:30
waiting eagerly for CM 6 to 10... if I can't buy Ardmore Park, I'm not going to vote for the ruling party.... by the way my income is $3000 per mth :D
I think you forgot to add an extra zero to your monthly income;) ?
Can wait for below scenario, but by then you probably prefer to pu you money else where than S$. :beats-me-man:
A few things could cause the down fall of Singapore:
- discriminate against rich foreigners who provide money to SG, set up businesses, create jobs, create innovative companies & business to differentiate SG from others etc (unfortunately violated due to some reasons).
- try to manipulate interest rate in an attempt to tame inflation vs using exchange rate that has worked for almost half a century in SG.
I won't be surprise if somebody will act clever to do this sooner or later!
Violate the above 2 & SG gone case Liao! :scared-1:
What to do to protect you capital:
1) sell all your properties to the whiners who have been lobbying the gov to make properties cheap for them!
2) get out of S$ - gone case liao! Will become US$1 : S$1.8x in no time!
3) can still Make money (>50% gain) & retire comfortably anywhere Without SG property. It is idiotic to assume that people will want to buy SG property regardless of conditions! :doh:
waiting eagerly for CM 6 to 10... if I can't buy Ardmore Park, I'm not going to vote for the ruling party.... by the way my income is $3000 per mth :D
Latest cooling measures to help most genuine owner-occupiers? How many waiting to buy hah? On the other hand, Most likely the CM will crash the market and the other 70% owners not going to upgrade or buy another tu lan & Vote blue shirt come 2016? :p
================================
Private property prices may slide in next 6 months
by Ong Kah Seng 04:46 AM Dec 09, 2011
The Government's latest round of property market cooling measures - imposing a range of additional buyer's stamp duties on private home purchases - helps most genuine owner-occupier buyers, specifically citizens and permanent residents who may be affected by affordability issues.
More importantly, it gives a clearer direction for the private home market, which had exhibited optimism despite the last round of cooling measures in January and the uncertainty in the external environment. Prices are expected to fall up to 8 per cent in the first half of next year.
Direct impact on foreigners
The most immediate impact of the measures will be a slowdown in foreigner purchases - a natural result of the hefty 10 per cent additional duty. The duty can be considered appropriate as foreigners have had sufficient opportunities to enter the market and have been stepping up purchases of private homes in recent years, with no policies specifically targeted at them.
The measure may also provide some support for the leasing market now that fewer foreigners are expected to buy a private home. There will be some foreigners who will not be put off by the 10 per cent additional duty as Singapore appeals to them as a politically stable and physically safe country. But this group is expected to consist of the really affluent, whose wealth is unscathed by the current economic headwinds from the United States and Europe, and who need a property in a place with excellent fundamentals.
Demand for non-residential property to rise
The January measures sparked a move to strata-titled non-residential property as investors sought out alternatives. The new measures will likely encourage investors to continue to sniff out such non-residential units - i.e. office, retail and industrial spaces.
But it must be highlighted that an excessive run-up in the prices of such properties may also prompt the Government to react as the viability of smaller businesses is challenged. Nevertheless, the shift to non-residential property investments in a bid to avoid the private home buyer stamp duty can be viewed as a positive for an investor as he or she will be diversifying his or her entire property portfolio.
Psychological deterrence
Singaporeans and PRs who are genuine owner occupiers, as well as citizens not buying a third or subsequent home, will not have to pay the additional buyer's stamp duty. While the number of locals who do not "stop at two" may not be large in the first place, the new measures mean that what is left in the pool of private property purchasers will now be strictly first and second home buyers.
Although the Singaporeans or PRs who have to pay the additional buyer's stamp duty will pay a lower rate than foreigners, they may still be deterred. Psychologically, the duty creates a disincentive, for such buyers are indeed paying more than their peers, particularly in the case of developer sales where prices are fairly uniform.
Selective property re-pricing
With the new measures, a persistent demand contraction leading to price falls will be more likely, especially amid global economic challenges. Private home prices may fall by up to 8 per cent in the first half of next year but this is still expected to be fairly property-specific and short-lived as there are many opportunistic buyers looking to purchase their dream property.
The desire for the dream property has intensified as society becomes increasingly sophisticated and individuals aspire to a higher quality of life. Also, as first time private home buyers do not have to pay the additional duty, they may stop hesitating on the purchase decision and realise their dream.
Ong Kah Seng is a director at R'ST Research, an independent property market research firm in Singapore.
The measures primary target is never to help home owners. It just makes life more difficult for investors and speculators, particularly foreigners. Bcoz the government is going to devalue the currency and keep interest rates low to help businesses.
Ho say liao! My S$ mostly converting to foreign curriencies..... :D
US$1 : S$1.8xx coming soon by 2012-2013! :ashamed1:
The measures primary target is never to help home owners. It just makes life more difficult for investors and speculators, particularly foreigners. Bcoz the government is going to devalue the currency and keep interest rates low to help businesses.
Ho say liao! My S$ mostly converting to foreign curriencies..... :D
US$1 : S$1.8xx coming soon by 2012-2013! :ashamed1:
Everybody is trying to devalue currency, not only Singapore. It's a race to the bottom...
This is my country, this is my home
I can buy hdb, and private condo
No more foreigner buyers, we are happy
Property cheap cheap now, Singaporeans
We are Singapore, Singaporeansssssssssssssss
Shxx on me, Singapore! Shxx on me, Singapore! Shxx on me and all my friends and more, Together Singapore, Singapore! - sang by FT who diligently went to last 5yrs NDP and learnt Count On Me Singapore
Try threatening MND with suicide. It might work better.
http://news.insing.com/tabloid/man-threatens-hdb-with-suicide/id-c61f3f00
"If you dont sell me Archipelago penthouse at 300psf I will jump into the Reservoir directly now and add to the death counts so your condo cant sell out!!!!!"
devilplate
13-12-11, 12:48
Ho say liao! My S$ mostly converting to foreign curriencies..... :D
US$1 : S$1.8xx coming soon by 2012-2013! :ashamed1:
Ur dreams will be shattered once qe3 flood the market hor....whahhaaha
phantom_opera
13-12-11, 12:51
how about Indian Rupees, all time low against USD, our expats from India very happy
devilplate
13-12-11, 12:55
how about Indian Rupees, all time low against USD, our expats from India very happy
U can see so many of them during lunch time at changi city point.....i tink easily 30% of the lunch crowd....
phantom_opera
13-12-11, 12:58
U can see so many of them during lunch time at changi city point.....i tink easily 30% of the lunch crowd....
The Indian Rupee situation looks eerily similar to Thailand last time in 1997 where lots of Indian companies are borrowing USD heavily, luckily the currency is not exactly free float and US interest not high, otherwise George Soros may hit again
phantom_opera
13-12-11, 13:25
THE PALETTE PASIR RIS GROVE Condominium 1 848,700 1,195 Strata 710psf Nov-11
3br@THE PALETTE can get 710psf... wow this is even lower than 8CY?
and a 2+S poolview at around 800k I believe:
THE PALETTE PASIR RIS GROVE Condominium 1 797,860 893 Strata 893 Nov-11
THE PALETTE PASIR RIS GROVE Condominium 1 997,940 1,335 Strata 748 Nov-11
748psf for this unit, quantum less than 1m, very rare
Ur dreams will be shattered once qe3 flood the market hor....whahhaaha
there is a reason why he is unable to tell you which currency he is buying.
qe3 from where? Euro:US$ now <1.32 !!! See who race to the bottom first? I think EURO & S$ will be faster.... :p
The first is due to out of control crisis and the second is due to policy changes & almost everybody trying to outrun each other through the narrow door! :doh:
Ur dreams will be shattered once qe3 flood the market hor....whahhaaha
SINGAPORE NEWS
Property buyers hit hardest by the new measure would be foreigners like Norman Lu.
The 34-year-old healthcare consultant arrived in Singapore a year ago to work in a multinational company.
Mr Lu is renting a place, but in the last three months he has been looking to buy a condominium in Paya Lebar or Braddell. However the new rules have put a stop to such plans.
He said: "We are very disappointed. Even though we are foreigners, we have been working in Singapore for a year, we also contribute to this country. So as a foreigner, we feel that the government does not welcome us."
Mr Lu said he was on the verge of closing a deal, but will need to evaluate his options now.
He said: "(There is) 80 per cent (chance that) I will not buy now. I will wait for one year, then I can get PR (permanent resident status) then I will buy a private condo or buy an HDB flat."
His other options include leaving Singapore, "because I can easily find another job opportunity in another country" and "if property owners drop the price by 10 to 15 per cent, then I will buy a condo immediately because I want to stay in my own property."
Market watchers expect transaction volumes in the core region like Orchard Road and Bukit Timah to slump by 40 per cent, because of the significant number of foreign buyers for such properties.
Prices will also be hit, with a possible correction of up to 20 per cent.
Mohamed Ismail, CEO of PropNex, said: "It takes a very bullish decision from a foreigner to come and invest in Singapore in today's market, having to pay a 13 per cent stamp duty upfront, and (being) subjected to the Seller's Stamp Duty in the next four years, of 16 per cent, 12 per cent, 8 per cent, and 4 per cent.
"And even if he sells after four years, if he buys a property today, he must expect at least a 25 to 30 per cent increase in the property price to break even, taking into consideration other costs and interests and all other elements."
Mr Mohamed said there were a few foreigners who had already expressed interest in buying properties and were planning to sign the option papers on Wednesday, but pulled out after the announcement of the new rules.
He added that even though these buyers will not be affected by the higher stamp duty, they felt their returns will be severely impacted.
The mass market segment - which has seen more foreign buyers moving in - is also expected to dip, which may be a boon for Singaporeans.
Good! Get rid of you and we can get your job and also buy that property you are eyeing! :tongue3:
Good! Get rid of you and we can get your job and also buy that property you are eyeing! :tongue3:
norman lu is aso typical cpcb kinda.
come out with threats "oh foreigners are not welcome, i can go any countries anytime"
hahaha:D
norman lu, fried yourself
Allthepies
13-12-11, 17:52
norman lu is aso typical cpcb kinda.
come out with threats "oh foreigners are not welcome, i can go any countries anytime"
hahaha:D
norman lu, fried yourself
is norman lu gg to jump reservoir too! ha ha ha ha. send all the useless whiners home! too bad we cant send singaporean whiners anywhere.
He can go to the US and buy properties. They more than welcome his money, provided he ccan get a job there. Or Australia if he can get a job.
Want to have his cake and eat it? Typical whiner mentality.
blackjack21trader
13-12-11, 18:37
U can see so many of them during lunch time at changi city point.....i tink easily 30% of the lunch crowd....
that is because of the angmo banks there in changi lah....they are very good buddies what. come to think of it, Indian guys are very handsome and Indian woman are very pretty. they look like angmos lor. Only difference is the nose area. One is high nose, one is sharp but lower bridge lor...if you observe. and skin and eye colors also a bit different lah...
blackjack21trader
13-12-11, 18:39
He can go to the US and buy properties. They more than welcome his money, provided he ccan get a job there. Or Australia if he can get a job.
Want to have his cake and eat it? Typical whiner mentality.
those are made of wood ones lah...unless you can afford to reconstruct..my humble view is do not touch la...city area one made of bricks can consider ba..
blackjack21trader
13-12-11, 18:55
that is because of the angmo banks there in changi lah....they are very good buddies what. come to think of it, Indian guys are very handsome and Indian woman are very pretty. they look like angmos lor. Only difference is the nose area. One is high nose, one is sharp but lower bridge lor...if you observe. and skin and eye colors also a bit different lah...
Got once I mistaken an Indian who dyed her hair blonde for angmo lah....very seldom you will encounter Indian who want to dye their hair lor.... Wahlaueh.....she dam pretty mah...almond shaped eyes, long legs and...aiya...dunno how to describe lah...only look like angmo lor....
blackjack21trader
13-12-11, 18:57
Got once I mistaken an Indian who dyed her hair blonde for angmo lah....very seldom you will encounter Indian who want to dye their hair lor.... Wahlaueh.....she dam pretty mah...almond shaped eyes, long legs and...aiya...dunno how to describe lah...only look like angmo lor....
Then I figured..maybe I will look like angmo too if I dye my hair blonde also la.....Wahlaueh...my lawyer said I looked like Andy Ah Hwa= Ah Beng lah.....
WOAHAHahAHAHAHAHHAHAAHHA
Ha ha ha!
CM1
CM2
CM3
CM4 - 4 years SSD & 60% LTV &
CM5 - ABSD 10% & 3%
CM6 - Every property owner capital gain tax 50%?
CM7 - All foreigners cannot buy properties in Singapore? :scared-3:
CM8 - All PRs cannot buy properties in Singapore? :scared-2:
No end to cooling measures that seem haphazard and not well thought out! Singapore property prices most probably will crash 50% sooner or later!
All you people there, as long as Singapore property prices don't crash 50%, don't buy! HDB same same! Never ever buy HDB resale properties! :doh:
Ya, lets those upgraders who make so much noise because they want to buy pte ppty and yet can't afford to taste their own medicine. Let their HDB resale price to drop also, hurray.:cheers5: Land price also drop because of the 5yrs grace period impose on the developers, no developers will dare to bid high high or worst still nobody wants to bid for any lands for the time being because lack of foreign market. Govt collect lesser tax because agents income reduces and developers profit drops, so will our GDP / reserves also drop?
The govt didn't say cannot buy lah... just strongly discourage foreigners from buying. If want to buy, pls go ahead. The dilemma here is our govt kept emphasizing that Singapore needs FW and FT to work here but don't want them to drive up the property prices... its a tricky business indeed! :scared-4:
Actually, foreigners can buy lower value ppty lor, then the stamp duty won't be so taxing.
Actually, foreigners can buy lower value ppty lor, then the stamp duty won't be so taxing.
Go buy resale lor, 20-30% cheaper plus can move in straight away.
Actually, foreigners can buy lower value ppty lor, then the stamp duty won't be so taxing.Not applicable to all. Those who come with family will need at least a 2 or 3 bedder lor... They may therefore choose to stay at the edges of the island to minimize cost, like Woodlands and Pasir Ris, certainly not Sentosa... Lol! :o
GDP and reserve drop -> Ministers cut pay lor! No bonuses lah, must use higher watermark and account for fat bonuses paid out last year mah, otherwise like bankers they can also adopt "pump and dump" policies to make the best while hay shine to collect fat bonuses and when economy crash they still "fat fat" right and don't need to account for right? :beats-me-man:
Ya, lets those upgraders who make so much noise because they want to buy pte ppty and yet can't afford to taste their own medicine. Let their HDB resale price to drop also, hurray.:cheers5: Land price also drop because of the 5yrs grace period impose on the developers, no developers will dare to bid high high or worst still nobody wants to bid for any lands for the time being because lack of foreign market. Govt collect lesser tax because agents income reduces and developers profit drops, so will our GDP / reserves also drop?
GDP and reserve drop -> Ministers cut pay lor! No bonuses lah, must use higher watermark and account for fat bonuses paid out last year mah, otherwise like bankers they can also adopt "pump and dump" policies to make the best while hay shine to collect fat bonuses and when economy crash they still "fat fat" right and don't need to account for right? :beats-me-man:
Should have penalty and clawback clauses in their employment contracts! :hell-hath-no-fury: If the company is fined (e.g. telcos, transportation companies), the money should be paid out directly from the CEO's salary package.
Not applicable to all. Those who come with family will need at least a 2 or 3 bedder lor... They may therefore choose to stay at the edges of the island to minimize cost, like Woodlands and Pasir Ris, certainly not Sentosa... Lol! :o
pasir ris is the new concrete jungle...urghhh:eek:
pasir ris is the new concrete jungle...urghhh:eek:The only saving factor is Pasir Ris Park! :)
Business Times - 31 Mar 2012
More cooling measures 'likely'
By MINDY TAN
THE likelihood of the government implementing a sixth round of cooling measures is now much higher than two months back.
That being said, measures, if implemented, are likely to happen only in the second quarter of this year, said Png Poh Soon, head of consultancy and research at Knight Frank.
'A few months doesn't really constitute a trend so naturally, the government will look - it may take one to two quarters to observe if this is a sustainable trend or if (the spike in sale volumes) is short-term,' he said.
Based on Urban Redevelopment Authority (URA) figures for the month of February, a total of 2,413 private homes - excluding executive condominiums (ECs) - were sold, representing a 29 per cent month-on-month jump, and more than double the number sold in the same period last year.
Including ECs, a total of 3,138 units were sold in February, up 51 per cent from January's 2,077 units.
The robust buying sentiment has revived conjecture that the government might roll out additional cooling measures. This follows a series of cooling measures which culminated in the implementation of an additional buyer's stamp duty in December last year.
Said Mr Png: 'When the sixth round comes in, it could be a refinement of the existing five rounds of cooling measures, or it could be something drastically new. The way I look at it, it's likely a tightening of existing measures.'
'The market is actually in mixed flux. The resale market is quite dead, (but) new sales are doing very well. Is this (a sign of) a very stable and sustainable market? This is a question many people are interested in.'
Copyright © 2010 Singapore Press Holdings Ltd. All rights reserved.
Well, the earlier CM did not cast its nets far and wide enough to expect much impact on the property market. It basically was a focused measure that targetted the foreigners as well as multiple property owners. All in all, this group of people can hardly account for 10 or 20% of property buyers. CM6 is probably a matter of time!
Also, KBW would like to observe how the market respond to the latest bumber crop of HDB flats released before deciding if CM6 is due. This would probably take another month or two to consolidate and analyze those data! Hmmm...:rolleyes:
next CM will be targeting on ABSD or cash rebate?
The next round could be targeted at commercial/industrial properties. Unlikely to be in residential.
According to the latest issue of The Economists, Singapore property is 60% over valued while US property is 15% under valued.
According to the latest issue of The Economists, Singapore property is 60% over valued while US property is 15% under valued.
If it is 60% over-valued, it means a $1 million 3 bedder pte condo true valuation should be $625k. A 5-room HDB is already close to that value, so HDB BTO prices must be lowered also. This is seriously challenging the chief valuer/ valuation officers at HDB. Lousy report.
Allthepies
31-03-12, 22:49
According to the latest issue of The Economists, Singapore property is 60% over valued while US property is 15% under valued.
yup then u better quick sell ur Singapore properties and buy US properties :D:D:D
Business Times - 31 Mar 2012
More cooling measures 'likely'
By MINDY TAN
THE likelihood of the government implementing a sixth round of cooling measures is now much higher than two months back.
That being said, measures, if implemented, are likely to happen only in the second quarter of this year, said Png Poh Soon, head of consultancy and research at Knight Frank.
'A few months doesn't really constitute a trend so naturally, the government will look - it may take one to two quarters to observe if this is a sustainable trend or if (the spike in sale volumes) is short-term,' he said.
Based on Urban Redevelopment Authority (URA) figures for the month of February, a total of 2,413 private homes - excluding executive condominiums (ECs) - were sold, representing a 29 per cent month-on-month jump, and more than double the number sold in the same period last year.
Including ECs, a total of 3,138 units were sold in February, up 51 per cent from January's 2,077 units.
The robust buying sentiment has revived conjecture that the government might roll out additional cooling measures. This follows a series of cooling measures which culminated in the implementation of an additional buyer's stamp duty in December last year.
Said Mr Png: 'When the sixth round comes in, it could be a refinement of the existing five rounds of cooling measures, or it could be something drastically new. The way I look at it, it's likely a tightening of existing measures.'
'The market is actually in mixed flux. The resale market is quite dead, (but) new sales are doing very well. Is this (a sign of) a very stable and sustainable market? This is a question many people are interested in.'
Copyright © 2010 Singapore Press Holdings Ltd. All rights reserved.
Jialat liao, unpredictable economy.:scared-3:
Jialat liao, unpredictable economy.:scared-3:
I think most have been cautious in investing n the controls have a actually been put in Place to prevent speculation unless people try to bypass the measures by borrowing names from family members. Then it a whole can of worms.
Well, the earlier CM did not cast its nets far and wide enough to expect much impact on the property market. It basically was a focused measure that targetted the foreigners as well as multiple property owners. All in all, this group of people can hardly account for 10 or 20% of property buyers. CM6 is probably a matter of time!
Also, KBW would like to observe how the market respond to the latest bumber crop of HDB flats released before deciding if CM6 is due. This would probably take another month or two to consolidate and analyze those data! Hmmm...:rolleyes:
That maybe why Sky Habitat plan to launch this month instead of later..
If you think about it, without all these foreigners, our salary would not be stagnant.
Without all these foreigners and MNCs setting up shops in Singapore, many citizens would be jobless! :banghead:
If you think about it, without all these foreigners, our salary would not be stagnant.
Also, KBW would like to observe how the market respond to the latest bumber crop of HDB flats released before deciding if CM6 is due. This would probably take another month or two to consolidate and analyze those data! Hmmm...:rolleyes:
I thought his bumper crop of 8000 HDB units were sold out in 2 days.
http://www.propertyguru.com.sg/property-management-news/2012/3/32706/hdb-applications-exceed-available-flats
:D :D Even HDB buyers also pen-up demand ?
I thought his bumper crop of 8000 HDB units were sold out in 2 days.
http://www.propertyguru.com.sg/property-management-news/2012/3/32706/hdb-applications-exceed-available-flats
:D :D Even HDB buyers also pen-up demand ?Yup... it was sold out right after I added that post... wow! So CM6 ...
Just hope that govt will do something about the majority of buyers who are driving the property prices up up up! As much as I understand why govt held back and tries not to jeapordize the buying demands, policies can be set in such a way that people can still buy but maybe must have a higher rate of committment and ready cash! 50% LTV? :p Oh boy that hurts... I'm slapping myself! :rolleyes:
Wah 8000+ applications in 2 days. What proportion are first timers?
ikan bilis
02-04-12, 12:48
how to have CM6 if both URA and HDB indices are coming down??... :D
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
http://www.todayonline.com/Singapore/EDC120402-0000075/HDB-resale-prices-up,-private-home-prices-down-in-Q1-2012
HDB resale prices up, private home prices down in Q1 2012
Updated 11:01 AM Apr 02, 2012
SINGAPORE - Resale prices of HDB flats rose in the first quarter of 2012 while the prices of private homes fell for the first time since 2009.
HDB flash estimates showed an increase of 0.6 per cent, the smallest rise in resale prices since Q3 2006. The increase was also lower than the 1.7 per cent increase registered in the fourth quarter of 2011.
The HDB will release the resale price index for the full quarter will be released on 27 April.
HDB says it is committed to offer 25,000 new flats under the Build-To-Order scheme this year and will put on sale 4,640 new flats next month in Choa Chu Kang, Kallang/Whampoa, Punggol and Sengkang.
Separately, a flash estimate by the Urban Redevelopment Authority (URA) showed that the prices index for private homes retreated 0.1 per cent in the first quarter this year, compared to a 0.2 per cent increase in Q4 2012.
Prices of non-landed private residential homes fell by 0.9 per cent in the core central region and 0.7 per cent in rest of central region during the quarter.
However, prices outside the central region increased by 1.2 per cent, compared to the 0.6 per cent increase in the previous quarter. CHANNEL NEWSASIA
how to have CM6 if both URA and HDB indices are coming down??... :D
Maybe CM6 will target commercial sector?:scared-4:
Like that means 1 year may see 20,800 new launch private property sales! New launch private prices still increasing, while resale dropping. Didn't I already say all the CMs will only affect resale and not on new launch? The only place where cooling measure is needed is not seeing any real measure? Why why why? Is it because they are so incapable of solving the problem or it is intended to be so??? :beats-me-man:
Private home sales soar to 5200 units in Q1 (http://www.propertyguru.com.sg/property-management-news/2012/4/32708/Private%20home%20sales%20soar%20to%205200%20units%20in%20Q1?utm_source=emailer-italerts&utm_medium=edm&utm_campaign=news-daily)
Apr 2, 2012 - PropertyGuru.com.sg
By Romesh Navaratnarajah
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http://www.propertyguru.com.sg/images/thumb/0/d/f/1/0df14419160407_1_V235.jpg Strong demand for new private residential projects (http://www.propertyguru.com.sg/new-homes-for-sale) has pushed home sales to 5,200 units in Q1 2012, second only to the record sales seen in Q3 2009 when a total of 5,578 units were snapped up.
According to CBRE Research, these figures are based on keen interest for the large supply of about 5,500 new homes sold during the quarter as well as low interest rates and high liquidity.
Li Hiaw Ho, Executive Director at CBRE Research, said, “This is the first time since the previous peak in Q3 2009 that the sales volume has exceeded 5,000 units in one quarter. It has been averaging 4,000 units each quarter for the past few years.”
He added that the increase in sales could be attributed to “the slew of projects featuring compact apartments that have flooded the market in recent years.”
“The smaller quantum of each unit makes compact apartments very affordable, providing a safe haven for investors who are keen to park their savings,” noted the consultancy.
Some of the projects that were fully sold during the quarter include Guillemard Edge (http://www.propertyguru.com.sg/search/guillemard-edge/property-listings) (275 units at a median price of S$1,215 psf), Casa Cambio (198 units, S$1,390 psf), Millage (70 units, S$1,350 psf) and Tree Scape (30 units, S$1,400 psf).
As far as buyers’ interest was concerned, the location, pricing, proximity of MRT stations and product attributes were major factors, while rebates and discounts also helped boost sales.
As of end-February, the best-selling projects are Watertown (pictured) in Punggol Central which saw a take-up of 924 units at a median price of S$1,250 psf, The Hillier in Hillview Avenue (457 units, S$1,325 psf) as well as Parc Rosewood in Woodlands (577 units, S$980 psf).
With all the ABSD and cash rebate that is going on, do you think the URA figures might be distorted?
Obviously, and not only that, the CASH rebate encourage people to buy new launch since downpayment instead of 20% becomes 15%, 40% cash for 60% LTV become 35% cash as banks always are able to bring valuation to match selling price of developers (and ignore the cash-back) (or 15% cash for 80% LTV for 1st outstanding loan).
With all the ABSD and cash rebate that is going on, do you think the URA figures might be distorted?
Q1 2012 will probably reflect the latest CM from Dec. Q2 2012 will probably be more indicative, after buyers become accustomed to the CM... :rolleyes: HDB prices are still going north, though by a smaller amount. OCR prices going up too! Hmmm...
Man charged with gruesome murder in Jurong West
By Kai Fong | Yahoo! Newsroom –[/URL][URL="http://sg.news.yahoo.com/_xhr/mtf/panel/"] (http://forums.condosingapore.com/)
UPDATED (2 April Monday, 12pm)
38-year-old Gabriel Lee Haw Ling was charged on Sunday with the murder of a 25-year-old Singaporean woman who was found with her eyes gouged out in Jurong West on Saturday.
The body of Elsie Lie Lek Chee also had multiple stab wounds and lay on a blood-soaked mattress in the bedroom of a five-room flat in Block 633 of Jurong West Street 65 that she shared with Lee, a divorcee. She was pronounced dead by paramedics at 7:30am.
According to several local media reports, police combed through the grass patch at the foot of the HDB block and recovered more than 40 items -- including eyeballs believed to be from the victim. Other things found include a knife and several household items.
Many have speculated that the sadistic killing could have been modeled after the recent Channel 8 TV series “Unriddle 2 (http://sg.search.yahoo.com/search?p=Unriddle+2&fr=fp-today&cs=bz)”, where a similar mutilation scene was shown in the that episode aired last Tuesday.
The Straits Times (http://forums.condosingapore.com/) reported that one of the flat’s tenants called the police at about 6:45am after finding a bloody trail at the couple's room door.
According to reports, the couple, who rented the room some three months ago, had started quarrelling on Friday evening. Neighbours said they did not see the woman coming to the flat for the last two months.
The police were called in by a concerned tenant at around 1am on Saturday. However, the heated argument continued after the police officers left.
Lee, also a Singaporean, is next scheduled to appear in court on 5 April, following a psychiatric assessment, reported The New Paper.
R u saying that HDB prices in Jurong West St 65 will plummet? :confused:
No, just saying why it is not ideal to rent out a room for income or share a house with others (who are non-family members). You won't know what these people will turn out to be. :scared-3:
R u saying that HDB prices in Jurong West St 65 will plummet? :confused:
No, just saying why it is not ideal to rent out a room for income or share a house with others (who are non-family members). You won't know what these people will turn out to be. :scared-3:Can imagine the other tenants will probably shift out of the house by this weekend? Anyway, the house will be under police custody for now? The owner will probably :banghead: ...
Can imagine the other tenants will probably shift out of the house by this weekend? Anyway, the house will be under police custody for now? The owner will probably :banghead: ...
it's really down to individual luck with these things... sigh.
ikan bilis
02-04-12, 22:59
umm... let me guess... you guys suggesting hdb should ban room rental and only allow whole flat rental...
me support that also... :cheers4:
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