View Full Version : If CM6 comes, what will it be?
Looking at the RED Hot launches, CM6 appears to be in the making. Question is, will it come and what will it be?
My guess is this time, targetted at locals, maybe higher LTV for 2nd or subsequent properties, like 50% or something?
My guess, raise the cash portion downpayment from 10% to 20%.
My guess, raise the cash portion downpayment from 10% to 20%.
good idea but not much difference. It is just a matter of few weeks.
raise from 10 to 30% should do the trick
Are we giving ideas to KBW?
The buyers are mostly upgraders ...he should aim his bazuka at the HDB market. It's more relevant to control public housing than private. Let the private market be...live and die by their own devices.
in summary whole mkt is in a MESS....just like DOW JONES...world got so many issue/crisis but all dont care everyday keep cheong...:D
kbw also headache:doh:
No headache la ...housing market slow and steady.
No mass retrenchments - no problems
No sudden and prolong rise in mortgage rates - no problems
CM6 can wait till almost 12 months after CM5.
No worries, no headaches..
in summary whole mkt is in a MESS....just like DOW JONES...world got so many issue/crisis but all dont care everyday keep cheong...:D
kbw also headache:doh:
MOP 10 years or sell your hdb flat within 6 months if you wanna own private. Why? 1, people will really hold on to the precious subsidized asset and not 5 year money making bond. 2, this will support the lagging hdb resale market. 3, private owners will shout with joy at fairer treatment now, plus the restrictive 10 years MOP will drive most aspirers direct to private for their first purchase.
Own HDB cannot buy condo... confirm demand drop...
If they do ABSD clock to start from TOP of under construction properties, you would probably see interest flowing to resale property. If they do capital gains tax, i fear we will get a stock market bubble.
If ever there is a CM6, it got to be of very restrictive, and that garment knows that prices will continue to be up. And may I ask, are you bro/sis waiting for CM6 to take effect or better buy now before CM6?
Don't wait ...CM6 won't come so soon.
You like it, you can afford it...then consider it.
Next time even if CM6 comes, you can't find the same unit.
If ever there is a CM6, it got to be of very restrictive, and that garment knows that prices will continue to be up. And may I ask, are you bro/sis waiting for CM6 to take effect or better buy now before CM6?
ikan bilis
17-02-12, 15:01
hmmm... heya... cm6 will be most mild of all.. no change on SSD, 40% downpayment, ABSD or etc... it will just be tiny triple of the current property tax to 30% (or 12% for own stay)... so don't worry too much!!.. :D
i think must wait for a global market crash ...then got better effect.. :D :D
KBW has already sounded it loud and clear to all hdb dwellers that COV will drop when BTO flats are opened to second time buyers. More active monitoring of illegal rental of HDB flats within MOP or beyond MOP w/o permission will dampen increase of demand from hdb upgraders.
KBW has already sounded it loud and clear to all hdb dwellers that COV will drop when BTO flats are opened to second time buyers. More active monitoring of illegal rental of HDB flats within MOP or beyond MOP w/o permission will dampen increase of demand from hdb upgraders.
Just heard the 2012 budget, looks like KBW is going to do much more to encourage older Singaporean to sell their flats and downgrade to 3 room or studio. Get ready for much more resale flats supply? Combined with the upcoming increase of BTO for 2nd timer, looks like COV is going down more, maybe into negative territory ?
With today's budget again reiterating the direction of the govt to reduce foreign workers in Singapore, coupled with the last round of CM on ABSD, foreigners are out of the property equation. CM6 if it ever comes around, will concentrate on local buyers. HDB MOP should be increased to 10 years and EC MOP to 12 years. Lol! :p
Just heard the 2012 budget, looks like KBW is going to do much more to encourage older Singaporean to sell their flats and downgrade to 3 room or studio. Get ready for much more resale flats supply? Combined with the upcoming increase of BTO for 2nd timer, looks like COV is going down more, maybe into negative territory ?Get ready for much more 4 room, 5 room and EA resale flats in the market. 1 and 2 room old HDB flats owners will be happy coz their flats will be in demand... :o
How will this move impact the HDB rental market for larger flats? Since more are selling to benefit, owners will not want to rent. Does it mean rental demand for 4, 5 room and EA flats will be in higher demand?
Did u hear "foreign workers & not foreign talent".
With today's budget again reiterating the direction of the govt to reduce foreign workers in Singapore, coupled with the last round of CM on ABSD, foreigners are out of the property equation. CM6 if it ever comes around, will concentrate on local buyers. HDB MOP should be increased to 10 years and EC MOP to 12 years. Lol! :p
Did u hear "foreign workers & not foreign talent".yes... foreign worker stays in HDB and dormitories, foreign talents stay in private condo... :sleep:
yes... foreign worker stays in HDB and dormitories, foreign talents stay in private condo... :sleep:I am saying population will still grow with mlreFt Coming.
I am saying population will still grow with mlreFt Coming.Yup... population will still grow amid slower pace with a reduction of FW. FT will trickle into our shores.... ;)
Maybe no CM6, but more rules like showflat must be representative of actual units (or is it oredi in place), all rooms in floor plan must indicate actual dimensions and minimum MM size that can be built or max no. of MM units in project.
The current median individual income in Singapore is about S$2K. The income for Employment Pass (EP) holder is S$3K. By importing more EP holders, the median income will increase WITHOUT the need to actually increase individual's income.
That's why statistics shows median income is increasing, but the ground cannot feel it.
Thanks,
Richard
The current median individual income in Singapore is about S$2K. The income for Employment Pass (EP) holder is S$3K. By importing more EP holders, the median income will increase WITHOUT the need to actually increase individual's income.
That's why statistics shows median income is increasing, but the ground cannot feel it.
Thanks,
Richard
Statistics don't lie, the one who use it always lie.
relax on exchange rate and control interest rate??
Force interest rate to 3-4% which is the norm. Like that I think sure work :)
just the THREAT of this will make property price tumble.
relax on exchange rate and control interest rate??
Force interest rate to 3-4% which is the norm. Like that I think sure work :)
just the THREAT of this will make property price tumble.like that wait not only lose the by election, next GE also lose 2 more GRCs... :o
like that wait not only lose the by election, next GE also lose 2 more GRCs... :o
why? Interest rates ARE supposed to be around 3-4% long term right? It was 4+% not too long ago.
or you expect the 1% forever? The 1% is an anomaly caused by US.
I think MAS never say it is their responsibility to hold the interest rate at 1-1.5%.... I think most prudent house buyers can support the normal 3-4% interest rate.
I think those that die are speculators who have multiple properties and renting them out.
PAP will gain some votes from people who are waiting to buy their first property or upgrade their only property. I think there are more single property owners than multiple property owners who are speculating.
Except in this forum lah....
The current median individual income in Singapore is about S$2K. The income for Employment Pass (EP) holder is S$3K. By importing more EP holders, the median income will increase WITHOUT the need to actually increase individual's income.
That's why statistics shows median income is increasing, but the ground cannot feel it.
Thanks,
Richard
The actual figure of resident Singaporeans in full time employment is tracked: $2,710. http://www.channelnewsasia.com/stories/singaporelocalnews/view/1096348/1/.html
But this increment of 4.2% is lower than the inflation rate of about 5.5% in 2011. I suppose more people will be buying new launch MMs as savings to hedge against inflation. True buyers for own stay will go for BTOs and ECs.
The reduction of foreign workers quota (and increase of FW levy) will hit many sectors, especially the construction sector, harder. So it means higher inflation and construction costs. I don't think mass market pte condos will drop this year. On the contrary it should go up slightly.
Ha ha ha! They can't even do their job under the national agenda well? Run-away resale HDB prices?
Why target foreigners and PRs when almost all the buying in OCR mass market new launch properties are by Singapore citizens? :doh:
Ask them to implment my solution and see whether can cool new launch sales or not:
(1) Legislate that since LTV is 60% and downpayment need to be 40%, developers must start building to 40% first before they can launch to sell their new launch properties and all new launch buyers must pay 40% downpayment upfront and get a loan of 60% upfront! :rolleyes:
(2) 4-years SSD start date start from TOP or the date they pay up 100% for the property (to be in line with what resale property buyers pay).
(3) All show flats must be built to scale and size of all rooms specified when they launch and market. Let people see how bloody small their rooms are! (until now, developers still not writing the size onto the floorplan in the brochures etc!). :banghead:
Don't need any more measures. Above 3 will sure cool new launch property buying frenzy and prices!
Are we giving ideas to KBW?
The buyers are mostly upgraders ...he should aim his bazuka at the HDB market. It's more relevant to control public housing than private. Let the private market be...live and die by their own devices.
End up many companies also go kankcrupt, especially the SMEs! :banghead:
Even the GLCs also have to handle the big debt load because most leveraged to get better return! :beats-me-man:
relax on exchange rate and control interest rate??
Force interest rate to 3-4% which is the norm. Like that I think sure work :)
just the THREAT of this will make property price tumble.
End up many companies also go kankcrupt, especially the SMEs! :banghead:
Even the GLCs also have to handle the big debt load because most leveraged to get better return! :beats-me-man:
?? I don't know. I think companies have better sense and ability to weather a 2-3% rise in interest rate.
Is 3-4% so unthinkable? I think only speculators feel that. I hope you are not one of them. you scared MAS really decide to influence the interest rates??
I think sibor historically is average 2.5-3%. if you add in the spread for banks, it is normal for your housing interest rate to be above 3%.
End up many companies also go kankcrupt, especially the SMEs! :banghead:
Even the GLCs also have to handle the big debt load because most leveraged to get better return! :beats-me-man:
like that interest rate won't raise too much since govt is now want to help SME as much as possible.....
The current median individual income in Singapore is about S$2K. The income for Employment Pass (EP) holder is S$3K. By importing more EP holders, the median income will increase WITHOUT the need to actually increase individual's income.
That's why statistics shows median income is increasing, but the ground cannot feel it.
Thanks,
Richard
The median individual income is S$2,7k, the median household member income is S$2k (the lower figure is due to some members don't have income).
http://www.singstat.gov.sg/news/news/press14022012.pdf
With foreigner workers on the lower end and EP holders on the higher end, on balance, the mid point might indeed be dragged down.
Sorry for the wrong conclusion.
Thanks,
Richard
ikan bilis
18-02-12, 09:54
?? I don't know. I think companies have better sense and ability to weather a 2-3% rise in interest rate.
Is 3-4% so unthinkable? I think only speculators feel that. I hope you are not one of them. you scared MAS really decide to influence the interest rates??
I think sibor historically is average 2.5-3%. if you add in the spread for banks, it is normal for your housing interest rate to be above 3%.
umm... heya... how mas raise interest rate to 3-4% without that S$ currency control ??.. raise to 3-4% only, the next day few trillion US$ carry trade flooding in (now fed rate is <1%)... mas and the local bank wanna pay the interest for nothing ??... and mas wants high volatility S$ ?... also suka suka set high interest rate to kill all local businesses for no good reason ??.. :scared-4: :scared-3:
PropertyNewbie
18-02-12, 14:32
I want to see
1. Foreigners restricted to properties above S$1 mil/1000 Sq Ft
2. Multiple property owners (citizens) pay a higher property tax. Increase to 18% annual value for rental/investment properties.
3. Foreigners holding multiple properties to pay 25% annual value property tax for rental/investment properties.
4. Rental incomes to be multiplied at 1.2x in annual tax filing. For e.g. if rental income is S$60,000 per year, then rental income will be taxed at S$72,000.
umm... heya... how mas raise interest rate to 3-4% without that S$ currency control ??.. raise to 3-4% only, the next day few trillion US$ carry trade flooding in (now fed rate is <1%)... mas and the local bank wanna pay the interest for nothing ??... and mas wants high volatility S$ ?... also suka suka set high interest rate to kill all local businesses for no good reason ??.. :scared-4: :scared-3:
I am talking about housing interest rates. It just needs Sibor to go to 2-3% and for the banks to raise their spread to 1%? The banks can decide the spread and change it at anytime with just some notice to customers.
MAS could make up some rules for the banks so they need to set a higher spread for housing loan interest rates, some tax or something. Just a 0.5% increase in the spread will scare a lot of people here :) This will not affect other stuff in the economy or money supply or what have you.
mmm... sound like a good idea huh. Maybe should suggest to the government. A 0.5% increase in the housing loan interest rate isn't really going to kill anybody. But the fact that government is doing this will scare the hell out of speculators :)
Frankly, I am not an economics expert. I don't know when the housing interest rates will rise. So you are welcomed to say it will stay low.
But I KNOW from history it is around 3-4% being the norm. So I plan based on that contingency. I don't plan based on the housing loan interest rate staying on 1-1.5% as it is now.
I want to see
1. Foreigners restricted to properties above S$1 mil/1000 Sq Ft
2. Multiple property owners (citizens) pay a higher property tax. Increase to 18% annual value for rental/investment properties.
3. Foreigners holding multiple properties to pay 25% annual value property tax for rental/investment properties.
4. Rental incomes to be multiplied at 1.2x in annual tax filing. For e.g. if rental income is S$60,000 per year, then rental income will be taxed at S$72,000.
Why kill investor? Dun u want ur property value to rise?
When u hold multiple prioerties, see if u like to be taxed so much.
PropertyNewbie
18-02-12, 15:03
Why kill investor? Dun u want ur property value to rise?
When u hold multiple prioerties, see if u like to be taxed so much.
Investors should do their sums and not chase the market and drive prices out of reach of the ordinary Singaporean. Why should one hoard so many properties when there are many who are being priced out of buying their first one?
If people dun like to be taxed so much, dun buy! Then prices will fall to more realistic levels to satisfy genuine owner-occupiers looking for their first private home. Once the supply goes to owner-occupiers, rental apartment supply will shrink causing rental levels to go up, netting off the increase in taxes investors have to pay. Everyone is happy.
Investors should do their sums and not chase the market and drive prices out of reach of the ordinary Singaporean. Why should one hoard so many properties when there are many who are being priced out of buying their first one?
If people dun like to be taxed so much, dun buy! Then prices will fall to more realistic levels to satisfy genuine owner-occupiers looking for their first private home. Once the supply goes to owner-occupiers, rental apartment supply will shrink causing rental levels to go up, netting off the increase in taxes investors have to pay. Everyone is happy.
Like dat talk u confirm dun hold multiple properties.
Let market force adjust itself. Amen
If too much CM, investors will all flock to other countries n what will Singapore be? Look at bigger picture, not one need.
PropertyNewbie
18-02-12, 15:33
Like dat talk u confirm dun hold multiple properties.
Let market force adjust itself. Amen
If too much CM, investors will all flock to other countries n what will Singapore be? Look at bigger picture, not one need.
Please dun assume how many properties I hold. It is also in my self interest that property prices are less prone to spikes due foreign influence and over hoarding by investors.
Market force left to itself is too dangerous to a small housing market like Singapore. Supply is so constrained that it has to be supplemented to a large extent by en-bloc land. Why should we let foreign buying drive prices up to the stratosphere? To benefit who, the 20% of us who live/own private properties?
If this CM takes place, price will soften to the point that genuine owner-occupiers will be able to afford private property. Why should our limited housing supply be open to all without some form of protectionism toward our majority of Singaporeans?
I am talking about housing interest rates. It just needs Sibor to go to 2-3% and for the banks to raise their spread to 1%? The banks can decide the spread and change it at anytime with just some notice to customers.
MAS could make up some rules for the banks so they need to set a higher spread for housing loan interest rates, some tax or something. Just a 0.5% increase in the spread will scare a lot of people here :) This will not affect other stuff in the economy or money supply or what have you.
mmm... sound like a good idea huh. Maybe should suggest to the government. A 0.5% increase in the housing loan interest rate isn't really going to kill anybody. But the fact that government is doing this will scare the hell out of speculators :)
Frankly, I am not an economics expert. I don't know when the housing interest rates will rise. So you are welcomed to say it will stay low.
But I KNOW from history it is around 3-4% being the norm. So I plan based on that contingency. I don't plan based on the housing loan interest rate staying on 1-1.5% as it is now.
If you believe interest rate will not stay low, it is unnecessary to tweak the spread isn't it?
Banks reduce their spread due to cash surplus and fierce competition. 'Normal' spread should be 1-1.25%
Last 2 cooling measure had even scare off genuine long term investors like me.
If this CM takes place, price will soften to the point that genuine owner-occupiers will be able to afford private property. Why should our limited housing supply be open to all without some form of protectionism toward our majority of Singaporeans?
So your motivation is to see some price correction through government intervention. How is the government going to answer to those who had bought their property recently?
I believe BTO flat prices are still fairly affordable. More should be done to the HDB resale market perhaps.
Are you saying the last cooling measure do not provide some form of protection towards citizens? I thought it is loud and clear?
ikan bilis
18-02-12, 16:37
I am talking about housing interest rates. It just needs Sibor to go to 2-3% and for the banks to raise their spread to 1%? The banks can decide the spread and change it at anytime with just some notice to customers.
MAS could make up some rules for the banks so they need to set a higher spread for housing loan interest rates, some tax or something. Just a 0.5% increase in the spread will scare a lot of people here :) This will not affect other stuff in the economy or money supply or what have you.
mmm... sound like a good idea huh. Maybe should suggest to the government. A 0.5% increase in the housing loan interest rate isn't really going to kill anybody. But the fact that government is doing this will scare the hell out of speculators :)
Frankly, I am not an economics expert. I don't know when the housing interest rates will rise. So you are welcomed to say it will stay low.
But I KNOW from history it is around 3-4% being the norm. So I plan based on that contingency. I don't plan based on the housing loan interest rate staying on 1-1.5% as it is now.
=> those already had their loans done... the spread already fixed in the mortgage contract... i.e. sibor+spread%... spread of around 1%... so if you want interest rate to be 3-4%, then at least mas go to make sibor 2-3%... (but mas do not set sibor now)
=> those signing new loans... can banks don't want business ??... mark their spread high high ??.. you think banks can control/monopolise the market ??...
=> and, why mas wanna fix the spread of local banks ??... for nothing do set policies to let local banks make $$ big big??... it should be market driven (else banks not efficient)... housing financing can also be from oversea and mas not stupid to kill own banks...
(you can buy some china/m'sia property and finance by uob)
http://www.uob.com.sg/personal/loans/property/international_home_loans.html
if mas fix local banks' spreads, it will be damn idiotic to let foreigner buyers or foregn funds to speculate and win big big in local bousing market... putting the locals in some unfair market condition... foreigners or local big guys could finance from oversea easily (lots of carry trades these days..)
=> heya... we are 53th state of USA.... our interest rate is set by fed's botak ben... period... :scared-3: :scared-3:
PropertyNewbie
18-02-12, 16:39
So your motivation is to see some price correction through government intervention. How is the government going to answer to those who had bought their property recently?
I believe BTO flat prices are still fairly affordable. More should be done to the HDB resale market perhaps.
Are you saying the last cooling measure do not provide some form of protection towards citizens? I thought it is loud and clear?
To those who bought recently, the GOVT has already reiterated time and again that current prices are at its peak and unsustainable by real wages in Singapore. So, they bought with eyes wide open and only have themselves to blame.
No. How is there protectionism for local folks when it's only 10% extra for foreign buying? There needs to be hard barriers to entry, for example restricting foreigners to buying apartments >S$1 Million and >1000 Sqft. They can go and fry multi million apartments in Paterson/Grange/Cluny I dun care, but when they compete with local salaried citizens slowing saving up for their 1st private RCR 980 sqft 2 bedder apartment in hope of a better life it becomes a problem.
ikan bilis
18-02-12, 16:59
To those who bought recently, the GOVT has already reiterated time and again that current prices are at its peak and unsustainable by real wages in Singapore. So, they bought with eyes wide open and only have themselves to blame.
No. How is there protectionism for local folks when it's only 10% extra for foreign buying? There needs to be hard barriers to entry, for example restricting foreigners to buying apartments >S$1 Million and >1000 Sqft. They can go and fry multi million apartments in Paterson/Grange/Cluny I dun care, but when they compete with local salaried citizens slowing saving up for their 1st private RCR 980 sqft 2 bedder apartment in hope of a better life it becomes a problem.
alamak!!... please make it min S$1.5mil lah.... these days anything <S$1mil very junk condo... don;t push price up on anything <1.5mil.... don;t compete with me please.... me very ikan bilis.... :scared-3: :scared-3:
To those who bought recently, the GOVT has already reiterated time and again that current prices are at its peak and unsustainable by real wages in Singapore. So, they bought with eyes wide open and only have themselves to blame.
No. How is there protectionism for local folks when it's only 10% extra for foreign buying? There needs to be hard barriers to entry, for example restricting foreigners to buying apartments >S$1 Million and >1000 Sqft. They can go and fry multi million apartments in Paterson/Grange/Cluny I dun care, but when they compete with local salaried citizens slowing saving up for their 1st private RCR 980 sqft 2 bedder apartment in hope of a better life it becomes a problem.
Goes to show you only think for yourself
=> those already had their loans done... the spread already fixed in the mortgage contract... i.e. sibor+spread%... spread of around 1%... so if you want interest rate to be 3-4%, then at least mas go to make sibor 2-3%... (but mas do not set sibor now)
errr.... did you read the fine print of your housing loan contract?? I am pretty sure the Bank can change the spread. Maybe not within the penalty period... but I am 100% sure the bank will cover their backside and the contract will allow them to change their spread as long as they give some notice to customter.
=> and, why mas wanna fix the spread of local banks ??... for nothing do set policies to let local banks make $$ big big??... it should be market driven (else banks not efficient)... housing financing can also be from oversea and mas not stupid to kill own banks...
(you can buy some china/m'sia property and finance by uob)
http://www.uob.com.sg/personal/loans/property/international_home_loans.html
if mas fix local banks' spreads, it will be damn idiotic to let foreigner buyers or foregn funds to speculate and win big big in local bousing market... putting the locals in some unfair market condition... foreigners or local big guys could finance from oversea easily (lots of carry trades these days..)
Since you are talking about foreign banks, which countries has a similar housing interest rate as singapore that you are refering to???
ikan bilis
18-02-12, 18:20
errr.... did you read the fine print of your housing loan contract?? I am pretty sure the Bank can change the spread. Maybe not within the penalty period... but I am 100% sure the bank will cover their backside and the contract will allow them to change their spread as long as they give some notice to customter.
mine....
yr 1, sor+0.75%
yr 2, sor+1.00%
yr 3, sor+1.25%
yr 4 and onwards, sor+1.50%
spread is specified on contract, mine is sor pegged.... unless you blur blur took the broadrate type where banks can suka suka up the rate....
Since you are talking about foreign banks, which countries has a similar housing interest rate as singapore that you are refering to???
that's why our banking system is competitive now and less carry trade... if you have some artificial spread of 3-4%.... first 1 there will be carry trade from hk & usa side...
i started to get lazy to answer you... where is AMK ??.. can you go ask AMK your questions?? .... ;)
May be the govt can say no foreigners & PRs can buy RCR and OCR? :p
To those who bought recently, the GOVT has already reiterated time and again that current prices are at its peak and unsustainable by real wages in Singapore. So, they bought with eyes wide open and only have themselves to blame.
No. How is there protectionism for local folks when it's only 10% extra for foreign buying? There needs to be hard barriers to entry, for example restricting foreigners to buying apartments >S$1 Million and >1000 Sqft. They can go and fry multi million apartments in Paterson/Grange/Cluny I dun care, but when they compete with local salaried citizens slowing saving up for their 1st private RCR 980 sqft 2 bedder apartment in hope of a better life it becomes a problem.
4-years SSD start date start [/COLOR]from TOP or the date they pay up 100% for the property (to be in line with what resale property buyers pay).
......
in between launching and TOP, not kena SSD? so can still flip between Launching and TOP?
.....I dun care, but when they compete with local salaried citizens slowing saving up for their 1st private RCR 980 sqft 2 bedder apartment in hope of a better life it becomes a problem.
I am foreigner, non-PR, so your accusations cut me deep. Sorry for taking your dream condo away.
Can you tell me what is your next apartment/condo?
Once I know what condo you are buying, I will not buy that condo so you can have the opportunity to buy the condo of your dreams.
Once again, I apologize for depriving you of your dreams.
Ops, forgot to say that from launching to TOP, it will be same as 1st year SSD, i.e. 16% stamp duty. :p (otherwise defeat the purpose of SSD starting from TOP).
in between launching and TOP, not kena SSD? so can still flip between Launching and TOP?
By the way, does the govt owe you a private property? You know, modern economics say that if the govt provide every good thing for their people, they will become spoil, lazy, and take things for granted, like you what you are asking for now! :p
We don't want to be Greece and Greeks! They have too much good things for too long but they are suffering for it now! If Singapore govt do what you say, we will be like the Greece & Greeks in not too long future! :banghead:
We welcome foreigners to bring in money to spend in Singapore (regardless of whether they spend in property, buy luxury cars, food, setup business etc etc) so that we have a booming and strong domestic service economy. That is the weak link of Singapore economy. How to achieve that? I suggest:
1) Increase Singapore's population to 20m! Welcome the RICH foreigners (like hopeful)! :cheers4:
2) Reclaim Puala Ubin & Puala Tekong to join with Singapore, and also land-fill all the seas around southern Islands to double the size of Singapore for increased population!
By then we will not be easily affected by exports and all the recession overseas! :D
To those who bought recently, the GOVT has already reiterated time and again that current prices are at its peak and unsustainable by real wages in Singapore. So, they bought with eyes wide open and only have themselves to blame.
No. How is there protectionism for local folks when it's only 10% extra for foreign buying? There needs to be hard barriers to entry, for example restricting foreigners to buying apartments >S$1 Million and >1000 Sqft. They can go and fry multi million apartments in Paterson/Grange/Cluny I dun care, but when they compete with local salaried citizens slowing saving up for their 1st private RCR 980 sqft 2 bedder apartment in hope of a better life it becomes a problem.
PropertyNewbie,
Is your household income less than S$12K? If yes, why don't you consider EC?
Thanks,
Richard
mine....
yr 1, sor+0.75%
yr 2, sor+1.00%
yr 3, sor+1.25%
yr 4 and onwards, sor+1.50%
spread is specified on contract, mine is sor pegged.... unless you blur blur took the broadrate type where banks can suka suka up the rate....
that's why our banking system is competitive now and less carry trade... if you have some artificial spread of 3-4%.... first 1 there will be carry trade from hk & usa side...
i started to get lazy to answer you... where is AMK ??.. can you go ask AMK your questions?? .... ;)
..... sigh... ok lor, I see you are someone who doesn't read the fine print in your contracts. My loan is pegged to sibor but in my contract there is a clause stating that the bank CAN change the rate at their discretion after 3 years. maybe you found a very "friendly" bank. But I think the chances is higher that the bank found a "blur" customer.
so you cannot tell me which overseas bank has similar housing interest rates as singapore? Dun tell me you are bullshitting when you say if MAS increases local housing interest rates by 0.5%, people will borrow from overseas banks?
I just wonder which overseas bank offer similar low interest rates for people to buy singaporean properties. All my overseas friends all pay much higher interest rates than me.
There's the typical mentality of young singaporeans. They see condo as a better life. Hdb's are just as good. Some are even better because they have lots of amenities near by. Ask those fellas who buy private and in an extreme case a sentosa bungalow but has a registered hdb address.
so, is it coming soon?
I think CM6 could be like this:
1. ABSD at 10% for Singaporeans who buy their 3rd (or more) properties.
2. ABSD at 10% for PR who buy their 2nd or more properties
3. ABSD at 15% for foreigners and companies buying any properties.
To discourage Singaporeans from being financially stretched with more properties.
To encourage PRs to just buy one property for own stay.
To discourage rich foreigners from inflating our real estate market.
speculator
17-04-12, 20:31
why? Interest rates ARE supposed to be around 3-4% long term right? It was 4+% not too long ago.
or you expect the 1% forever? The 1% is an anomaly caused by US.
I think MAS never say it is their responsibility to hold the interest rate at 1-1.5%.... I think most prudent house buyers can support the normal 3-4% interest rate.
This interest rate scare tactic has been going on for years already. in this new economy where more money is needed than less.
interest rate will remain very low for a long time. Japan has zero interest for how long already, go and read up.
I think CM6 could be like this:
1. ABSD at 10% for Singaporeans who buy their 3rd (or more) properties.
2. ABSD at 10% for PR who buy their 2nd or more properties
3. ABSD at 15% for foreigners and companies buying any properties.
To discourage Singaporeans from being financially stretched with more properties.
To encourage PRs to just buy one property for own stay.
To discourage rich foreigners from inflating our real estate market.
those buying new lanuch now majority are to become 2nd property owner...those who own more than 2 may not be so keen due to ABSD now...so increasing ABSD to the affected group of CM5 is not going to help much....:o
Think CM6 coming.
Tune in to 938radio talkshow now.
Think CM6 coming.
Tune in to 938radio talkshow now.
what they say
hongkong no cm..maybe spore sama sama
http://www.propertyguru.com.sg/property-management-news/2012/4/32818/no-additional-curbs-for-hk-property
what they say
Mr ku from SLP seems to suggest to remove CMs that are targeting at foreign investment and let the market forces pan out by itself.
One caller do suggest the current hdb rent out is fueling the current new sales.
Another caller hughlighted Constantly implementing CM will hurt investment climate in Singapore as foreign investor will shunt to invest in a place you do not know what new policy going to affect your investment.
More opinion from callers can be hear this evening around 6plus
those buying new lanuch now majority are to become 2nd property owner...those who own more than 2 may not be so keen due to ABSD now...so increasing ABSD to the affected group of CM5 is not going to help much....:o
Those who can afford the 40% downpayment will not be financially stretched la!
Even if market drop 30% and they are forced to sell, they still get back some pocket money!
So our current CMs are quite foolproof already if you think deeper.
Why do you think second property is 40% downpayment ?
That is what the experts think at most it will drop!
Banks are then protected, individuals just become less rich but not bankrupt!
For once I have to say government is quite smart!
DKSG
Mr ku from SLP seems to suggest to remove CMs that are targeting at foreign investment and let the market forces pan out by itself.
One caller do suggest the current hdb rent out is fueling the current new sales.
Mr K has a HHUUUUGGGEEEE Conflict of Interest issue. He keep blabbering about the policies as if he is an expert but if you read the underlying message, it is ALL about his own business. He is in the business of assisting foreigners make property purchases in Singapore. And the recent ABSD may have significant impact on companies like this.
This is "not a oil saving lamp".
This is a very good example of : To each his own.
DKSG
The sales volume is healthy (which is expected) considering the supply the govt is selling the land for PC and EC. The more land is supplied, the more sales it is going to generate until the demand gets satisfied. The key driver for another round of CM is the price. We know the resales price is not increasing, and it is the new launch that is debatable.
Is the new launch price still increasing? Ripple Bay does not seem to suggest this. Is Sky Habitat price a new new record high? The 3 bedder at SH is around $1400-1600psf (after discounts), which is what Centro is going for before SH was launched. Even Bartley is selling at $1300psf. No doubt, it is expensive but unless we see SH gets sold off like hot cakes, imo the govt will wait and see a while longer to decide on the next cm if it is necessary.
The sales volume is healthy (which is expected) considering the supply the govt is selling the land for PC and EC. The more land is supplied, the more sales it is going to generate until the demand gets satisfied. The key driver for another round of CM is the price. We know the resales price is not increasing, and it is the new launch that is debatable.
Is the new launch price still increasing? Ripple Bay does not seem to suggest this. Is Sky Habitat price a new new record high? The 3 bedder at SH is around $1400-1600psf (after discounts), which is what Centro is going for before SH was launched. Even Bartley is selling at $1300psf. No doubt, it is expensive but unless we see SH gets sold off like hot cakes, imo the govt will wait and see a while longer to decide on the next cm if it is necessary.
As pointed in the Business Times days ago, does more land sales translate into more moderate prices? If developers continue to bid "moderately" and sell at current price or higher given the demand, prices are not likely to moderate despite more land sales. This is evident from the new launches throughout last year and this year.
Since the government cannot or fail to manage on the supply side, the next CM could well be moderating the demand side. That is, the government could implement new measures to curb demand.
Those who can afford the 40% downpayment will not be financially stretched la!
Even if market drop 30% and they are forced to sell, they still get back some pocket money!
So our current CMs are quite foolproof already if you think deeper.
Why do you think second property is 40% downpayment ?
That is what the experts think at most it will drop!
Banks are then protected, individuals just become less rich but not bankrupt!
For once I have to say government is quite smart!
DKSG
Buyers of new launch I believe is banking on no need to pay 40% upfront. Will be an issue if they lost income before the 40% progressive payment is due. Will bank see it as new launch will be more lenient?
Just my thoughts.
Mr K has a HHUUUUGGGEEEE Conflict of Interest issue. He keep blabbering about the policies as if he is an expert but if you read the underlying message, it is ALL about his own business. He is in the business of assisting foreigners make property purchases in Singapore. And the recent ABSD may have significant impact on companies like this.
This is "not a oil saving lamp".
This is a very good example of : To each his own.
DKSG
Total agreement with you. Is for his own sake in mentioning that hee
As pointed in the Business Times days ago, does more land sales translate into more moderate prices? If developers continue to bid "moderately" and sell at current price or higher given the demand, prices are not likely to moderate despite more land sales. This is evident from the new launches throughout last year and this year.
Since the government cannot or fail to manage on the supply side, the next CM could well be moderating the demand side. That is, the government could implement new measures to curb demand.
The crux of the problem lies in the way the land sales program is structured. Govt will always pick the highest bid thus directly resulting in even higher sale prices. With the great sale results developers will be even more confident to bid for more land at high price.
The crux of the problem lies in the way the land sales program is structured. Govt will always pick the highest bid thus directly resulting in even higher sale prices. With the great sale results developers will be even more confident to bid for more land at high price.
of course highest bid la where govt bother about how much developer sell look at sky habitat...as long as govt collect money for the land they happy...:cool:
Buyers of new launch I believe is banking on no need to pay 40% upfront. Will be an issue if they lost income before the 40% progressive payment is due. Will bank see it as new launch will be more lenient?
Just my thoughts.
i thought you got to pay 40 or 20% within 8 weeks correct me if i m wrong..
I thought of this question last night : Do you think that the number of buyers out there is an infinite number ?
Will the number of units on the confirmed/reserve list one day in the near future exhaust all the spare cash we have in the market ?
If A, B, C (a finite number of individuals) got spare cash to buy extra properties, after A exhaust all his funds, wont the market be left with just B and C ?
So, if government continue to sell land for 10,000-20,000 units every year, wont it come a time when there is no more people with spare cash in the market ?
DKSG
PS : No more is just an expression, what I meant is fewer and fewer.
I thought of this question last night : Do you think that the number of buyers out there is an infinite number ?
Will the number of units on the confirmed/reserve list one day in the near future exhaust all the spare cash we have in the market ?
If A, B, C (a finite number of individuals) got spare cash to buy extra properties, after A exhaust all his funds, wont the market be left with just B and C ?
So, if government continue to sell land for 10,000-20,000 units every year, wont it come a time when there is no more people with spare cash in the market ?
DKSG
PS : No more is just an expression, what I meant is fewer and fewer.
Well, don't forget that as C become B and B become A, there will be new folks taking over the vacated C. Today looks like the buyer supply chain is running faster than ever.
I thought of this question last night : Do you think that the number of buyers out there is an infinite number ?
Will the number of units on the confirmed/reserve list one day in the near future exhaust all the spare cash we have in the market ?
If A, B, C (a finite number of individuals) got spare cash to buy extra properties, after A exhaust all his funds, wont the market be left with just B and C ?
So, if government continue to sell land for 10,000-20,000 units every year, wont it come a time when there is no more people with spare cash in the market ?
DKSG
PS : No more is just an expression, what I meant is fewer and fewer.
very simple just open the flood gates again and let in the crowd from the whole world...:cool:
The crux of the problem lies in the way the land sales program is structured. Govt will always pick the highest bid thus directly resulting in even higher sale prices. With the great sale results developers will be even more confident to bid for more land at high price.My sentiments are similar... almost never heard that the 2nd highest bid is the winning bid... Was always for the idea of including how the developer propose to value add to that area in which they are bidding for being one of the determining factors needed... :(
Well, don't forget that as C become B and B become A, there will be new folks taking over the vacated C. Today looks like the buyer supply chain is running faster than ever.
and buyer profile increasingly younger. if 70% of pple stay in hdb, then we havent even exhausted the tip of that hdb upgrader segment...
Think CM6 coming.
Tune in to 938radio talkshow now.But whatever the callers mentioned in the program does not have much bearing on whether CM6 is coming... unless its the govt officials talking and representing the MIW. :rolleyes:
Furthermore the callers mentioned about removing the CM which restricts foreign money from entering our economy. This probably is not CM but HM (heating measure)... :D
So, if government continue to sell land for 10,000-20,000 units every year, wont it come a time when there is no more people with spare cash in the market ?
DKSG
PS : No more is just an expression, what I meant is fewer and fewer.
I think the above measure (flood the market with GLS and BTO) is already "unofficial" CM6.
When there is an oversupply in the future, govt will "conveniently" open the gates to let in more FT who will take up the excess units.
I think the above measure (flood the market with GLS and BTO) is already "unofficial" CM6.
When there is an oversupply in the future, govt will "conveniently" open the gates to let in more FT who will take up the excess units.Regarding this issue about FT, I'm already witnessing Eurasians (Blondes) staying in HDB flats (rent, I guess), a sight I've never seen in my Singapore life. First it was about mainland Chinese coming into HDB flats. Now its the Eurasians... is housing prices spiraling out of control? :rolleyes:
Regarding this issue about FT, I'm already witnessing Eurasians (Blondes) staying in HDB flats (rent, I guess), a sight I've never seen in my Singapore life. First it was about mainland Chinese coming into HDB flats. Now its the Eurasians... is housing prices spiraling out of control? :rolleyes:
Yikes that's scary....could they be high-class social escorts from the former Eastern bloc? (eg Russian etc).....There are quite a lot of beautiful but cash-poor ladies from those countries. Hope they are not taking root here to set up "business". :scared-1:
i thought you got to pay 40 or 20% within 8 weeks correct me if i m wrong..
Not for new launch. You pay 10% and the next 30% is accordingly to the construction milestone in the progressive payment schedule.
Hence new launch is so attractive vs resales
But whatever the callers mentioned in the program does not have much bearing on whether CM6 is coming... unless its the govt officials talking and representing the MIW. :rolleyes:
Furthermore the callers mentioned about removing the CM which restricts foreign money from entering our economy. This probably is not CM but HM (heating measure)... :D
This program tends to have relevant authority tuned in.
Of course think this forum have more power hee.
HM is suggested by Ku ku not the caller
Not for new launch. You pay 10% and the next 30% is accordingly to the construction milestone in the progressive payment schedule.
Hence new launch is so attractive vs resales
ok tks i went to see many launches but never really got into the financing part...:)
The problem now is: a lot of Tom, Dick & Harry are jumping into the market, many of which earn household income of $8k or below, but buying $1m OCR condo or OCR MM for 'investment' purpose. If govt wants to prevent a bubble, they need to target this segment more aggressively.
CM6 could be like this: 8% additional stamp duty on new launch below S$800k and 5% additonal stamp duty on new launches between $801k to S$1.5m. OCR new launch will cool immediately without affecting resale.
Alternative method is to raise interest rate by 0.75% but that will eat into Govt's CPF payout. Dont think govt wants that. Haha
Heard CM6 will be out this week..Dont know true or not.
buttercarp
18-04-12, 14:49
Regarding this issue about FT, I'm already witnessing Eurasians (Blondes) staying in HDB flats (rent, I guess), a sight I've never seen in my Singapore life. First it was about mainland Chinese coming into HDB flats. Now its the Eurasians... is housing prices spiraling out of control? :rolleyes:
Few days ago, I saw an ang moh man in shirt and tie shopping in Bedok reservoir Sheng Siong!
Heard CM6 will be out this week..Dont know true or not.Heard from who?
Not fair to new launch lah! :tsk-tsk:
Don't need so unfair, just to be same as resale terms & conditions will do:
- Buyers cannot show 40% cash+CPF downpayment (put in escrow account with Govt) + letter of gaurantee of loan from bank for 60% loan cannot buy new launch.
- Banks' valuation of new launch properties cannot be >20% of surrounding resale properties of similar tenure and attributes (or otherwise pro-rated).
- Developers' cash-back, furniture vouchers etc all banned.
- SSD count-down date start from the day they pay up 100% of the property price.
- Full price list must be shown on a big board in showflat, including those already sold.
Above already more than enough to cool new launch I am sure.... :beats-me-man:
The problem now is: a lot of Tom, Dick & Harry are jumping into the market, many of which earn household income of $8k or below, but buying $1m OCR condo or OCR MM for 'investment' purpose. If govt wants to prevent a bubble, they need to target this segment more aggressively.
CM6 could be like this: 8% additional stamp duty on new launch below S$800k and 5% additonal stamp duty on new launches between $801k to S$1.5m. OCR new launch will cool immediately without affecting resale.
Alternative method is to raise interest rate by 0.75% but that will eat into Govt's CPF payout. Dont think govt wants that. Haha
Those who can afford the 40% downpayment will not be financially stretched la!
Even if market drop 30% and they are forced to sell, they still get back some pocket money!
So our current CMs are quite foolproof already if you think deeper.
Why do you think second property is 40% downpayment ?
That is what the experts think at most it will drop!
Banks are then protected, individuals just become less rich but not bankrupt!
For once I have to say government is quite smart!
DKSG
??? I am not sure what u are referring?:) I am referring to the ABSD...if u talk about 40% downpayment for any outstanding loan to purchase another one surely it is not enough deterent that is why ABSD(CM5) Rolled out..AND if CM6 is to impose more on ABSD on the selected groups is not going to help further that is what i think...:o
as most of the buyers for new launch are 2nd property buyer(local)thus escape ABSD and for those local who have more than 2nd property n to buy third property they have to use some ingenious method to buy(agent may encounter this n will know what i mean)...:p
Not fair to new launch lah! :tsk-tsk:
Don't need so unfair, just to be same as resale terms & conditions will do:
- Buyers cannot show 40% cash+CPF downpayment (put in escrow account with Govt) + letter of gaurantee of loan from bank for 60% loan cannot buy new launch.
- Banks' valuation of new launch properties cannot be >20% of surrounding resale properties of similar tenure and attributes (or otherwise pro-rated).
- Developers' cash-back, furniture vouchers etc all banned.
- SSD count-down date start from the day they pay up 100% of the property price.
- Full price list must be shown on a big board in showflat, including those already sold.
Above already more than enough to cool new launch I am sure.... :beats-me-man:
WOW solid one...new launch price sure cool....:)
Heard CM6 will be out this week..Dont know true or not.
true or not?:D
Not fair to new launch lah! :tsk-tsk:
Don't need so unfair, just to be same as resale terms & conditions will do:
- Buyers cannot show 40% cash+CPF downpayment (put in escrow account with Govt) + letter of gaurantee of loan from bank for 60% loan cannot buy new launch.
- Banks' valuation of new launch properties cannot be >20% of surrounding resale properties of similar tenure and attributes (or otherwise pro-rated).
- Developers' cash-back, furniture vouchers etc all banned.
- SSD count-down date start from the day they pay up 100% of the property price.
- Full price list must be shown on a big board in showflat, including those already sold.
Above already more than enough to cool new launch I am sure.... :beats-me-man:
The SSD start date one is really a GOOOOD one!
Kudos! If we can elect a Minister for Property Governance, we sure will vote and rally for Bear Bear!
DKSG
Few days ago, I saw an ang moh man in shirt and tie shopping in Bedok reservoir Sheng Siong!
When you one day see ang mo collecting used cans from hawker centre let me know...
When you one day see ang mo collecting used cans from hawker centre let me know...
Butter : U local ? We have ang mos ALLLLL over the place already. In NTUC, Sheng Shiong, Pasir Ris, Bedok, Yishun, Jurong, all over !! So, nothing strange leh...
DKSG
Regarding this issue about FT, I'm already witnessing Eurasians (Blondes) staying in HDB flats (rent, I guess), a sight I've never seen in my Singapore life. First it was about mainland Chinese coming into HDB flats. Now its the Eurasians... is housing prices spiraling out of control? :rolleyes:
U got geh geh ask them whether they are from Greece or Spain boh? ;)
Heard from who?
Someone who is in the property industry.
I just share what i heard.. Dont flame me lor..
If no CM within this or next week.. I will sure to F him
:simmering:
true or not?:D
pls ref to my reply to ysyap... Let see lah bro...i also want to know..
Those who can afford the 40% downpayment will not be financially stretched la!
Even if market drop 30% and they are forced to sell, they still get back some pocket money!
So our current CMs are quite foolproof already if you think deeper.
Why do you think second property is 40% downpayment ?
That is what the experts think at most it will drop!
Banks are then protected, individuals just become less rich but not bankrupt!
For once I have to say government is quite smart!
DKSG
What you say is what i watched in the movie "Too Big To Fail" on HBO channel last night.. Banks + gov.
The crux of the problem lies in the way the land sales program is structured. Govt will always pick the highest bid thus directly resulting in even higher sale prices. With the great sale results developers will be even more confident to bid for more land at high price.
And they only sell when the market is up.. ECs gone for 5-6 years..
Now, all popping up again..
Regarding this issue about FT, I'm already witnessing Eurasians (Blondes) staying in HDB flats (rent, I guess), a sight I've never seen in my Singapore life. First it was about mainland Chinese coming into HDB flats. Now its the Eurasians... is housing prices spiraling out of control? :rolleyes:
I saw Eurasians (Blondes) family with kid in primary school uniform in HDB estate (Far North) , parents dress no different from us in food court having meal..
Coming? :doh:
New cooling measures looming, say brokers (http://www.propertyguru.com.sg/property-management-news/2012/4/32835/new-cooling-measures-looming-say-brokers)
Apr 18, 2012 - PropertyGuru.com.sg
Share23 (http://www.facebook.com/sharer.php?u=http%3A%2F%2Fwww.propertyguru.com.sg%2Fproperty-management-news%2F2012%2F4%2F32835%2Fnew-cooling-measures-looming-say-brokers&t=New%20cooling%20measures%20looming%2C%20say%20brokers%20-%20Property%20Auctions%20News%2C%20Property%20Investment%20%7C%20PropertyGuru&src=sp) | http://cdn-sg2.pgimgs.com/images/icons/twitter.gif (http://twitter.com/home?status=Currently reading http://www.propertyguru.com.sg/property-management-news/2012/4/32835/new-cooling-measures-looming-say-brokers) | http://cdn-sg1.pgimgs.com/images/icons/table_add.gif Comment (http://www.propertyguru.com.sg/login?redirect=http://www.propertyguru.com.sg/property-management-news/2012/4/32835/new-cooling-measures-looming-say-brokers) | http://cdn-sg2.pgimgs.com/images/icons/email_go.gif E-mail to friend (http://www.propertyguru.com.sg/property-management-news/2012/4/32835/new-cooling-measures-looming-say-brokers#) | http://cdn-sg1.pgimgs.com/images/icons/share.gif Bookmark & Share (http://www.addthis.com/bookmark.php)
http://www.propertyguru.com.sg/images/thumb/c/8/3/0/c830bd19689138_1_V235.jpgBy Romesh Navaratnarajah: (https://plus.google.com/100211889324198007685/about?hl=en)
The government is expected to implement a new set of cooling measures following the recent surge in private home sales (http://www.propertyguru.com.sg/new-homes-for-sale), particularly in the mass market segment, according to brokers.
“The bulk of the strong volumes (http://www.propertyguru.com.sg/property-management-news/2012/4/32812/march-another-good-month-for-private-home-sales) represent demand for small mass market units that are substantially investment-driven in our view,” said CIMB Research.
On the other hand, bigger units which are usually preferred by owner-occupiers have seen weaker take-up rates.
As a result, “with mass market prices showing little signs of relenting, we see pressure mounting for further tightening measures,” noted CIMB.
CIMB has also retained a neutral rating for the sector, underlining CapitaLand Ltd as its top choice and giving City Developments Ltd an underperform rating. Outperforming the broader market, CapitaLand shares slipped 1.7 percent at S$2.9 and gained 31 percent so far this year.
Private home sales surged to 6,682 units excluding ECs (executive condominiums) in Q1 2012, the highest figure since 1996 when the URA (Urban Redevelopment Authority) first compiled such data.
“We do not discount the possibility of further measures in the shoe-box segment, although we highlight the volumes are supported by favourable interest rate environment, affordability levels and strong liquidity,” said Credit Suisse.
I saw Eurasians (Blondes) family with kid in primary school uniform in HDB estate (Far North) , parents dress no different from us in food court having meal..Thank you for verifying... Eurasians are entering the heartlands... ;)
Thank you for verifying... Eurasians are entering the heartlands... ;)
Eurasians or Europeans? Big difference. Eurasians have been part of us for a long time oredi.
Coming? :doh:
New cooling measures looming, say brokers (http://www.propertyguru.com.sg/property-management-news/2012/4/32835/new-cooling-measures-looming-say-brokers)
Apr 18, 2012 - PropertyGuru.com.sg
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http://www.propertyguru.com.sg/images/thumb/c/8/3/0/c830bd19689138_1_V235.jpgBy Romesh Navaratnarajah: (https://plus.google.com/100211889324198007685/about?hl=en)
The government is expected to implement a new set of cooling measures following the recent surge in private home sales (http://www.propertyguru.com.sg/new-homes-for-sale), particularly in the mass market segment, according to brokers.
“The bulk of the strong volumes (http://www.propertyguru.com.sg/property-management-news/2012/4/32812/march-another-good-month-for-private-home-sales) represent demand for small mass market units that are substantially investment-driven in our view,” said CIMB Research.
On the other hand, bigger units which are usually preferred by owner-occupiers have seen weaker take-up rates.
As a result, “with mass market prices showing little signs of relenting, we see pressure mounting for further tightening measures,” noted CIMB.
CIMB has also retained a neutral rating for the sector, underlining CapitaLand Ltd as its top choice and giving City Developments Ltd an underperform rating. Outperforming the broader market, CapitaLand shares slipped 1.7 percent at S$2.9 and gained 31 percent so far this year.
Private home sales surged to 6,682 units excluding ECs (executive condominiums) in Q1 2012, the highest figure since 1996 when the URA (Urban Redevelopment Authority) first compiled such data.
“We do not discount the possibility of further measures in the shoe-box segment, although we highlight the volumes are supported by favourable interest rate environment, affordability levels and strong liquidity,” said Credit Suisse.
I doubt so soon because very premium GLS plots are launching soon, and the price increase is confined to the new launches near MRT/good schools.
I doubt so soon because very premium GLS plots are launching soon, and the price increase is confined to the new launches near MRT/good schools.
Watch out for vacant plots of land near to MRT. Could be launched for GLS in the future. Can refer to the plot ratios maps on URA website. These will support the prices of nearby existing condos.
Eurasians or Europeans? Big difference. Eurasians have been part of us for a long time oredi.
They sound like Russian..
Watch out for vacant plots of land near to MRT. Could be launched for GLS in the future. Can refer to the plot ratios maps on URA website. These will support the prices of nearby existing condos.
See one.....very high chance.. the plot beside Causeway point..
Friday liao...where got CM...think it is bullshit lah.
Or Euro-Afrosians
They sound like Russian..
Or Euro-Afrosians
Whahaha..Afrosians?? dont make fun leh..
Imagine, for Good
They came, apply for PR.. few months/years later PRed..
Thereafter like you and me ...Singaporean.
But what if..
They came, apply for PR..few months/years later PRed..
buy HDB...Thereafter, found that living standard here
too high to retire, sell HDB..bye bye..go back to
homeland..
Worse case, PRed/Citizen, buy HDB,
gone back homeland to live and work there and rent out
HDB..
Given that many of the buyers for new launches are for investment as reported, it may make sense for CM6 to make buyers to sell their HDB flats within six month upon collecting their keys for the new apartments. This will have an immediate effect. Only those serious in upgrading to private flats will buy.
Given that many of the buyers for new launches are for investment as reported, it may make sense for CM6 to make buyers to sell their HDB flats within six month upon collecting their keys for the new apartments. This will have an immediate effect. Only those serious in upgrading to private flats will buy.
In that case CM6 will involve alot of people. What will happen to the HDB resale market? Who will benefit? new immigrants?
In that case CM6 will involve alot of people. What will happen to the HDB resale market? Who will benefit? new immigrants?
HDB resale price will fall and MND will cut down supply of new BTO flats. Overall, property prices will moderate to an acceptable level in line with income. Just hope that it is that simple. Sigh! it will probably lead to something else.
Someone should send this suggestion/petition to MND.
HDB owners buying PC have to dispose unit within 6 months upon TOP.
HDB owners currently owning a PC and HDB MUST dispose the HDB within 12-18 months.
HDB is meant to be subsidised housing and it is our national agenda to NOT subsidize citizens who exhibit certain level of wealth. Just like the way healthcare is being subsidize now (dont whack me on this, me not to familiar with healthcare).
DKSG
Someone should send this suggestion/petition to MND.
HDB owners buying PC have to dispose unit within 6 months upon TOP.
HDB owners currently owning a PC and HDB MUST dispose the HDB within 12-18 months.
HDB is meant to be subsidised housing and it is our national agenda to NOT subsidize citizens who exhibit certain level of wealth. Just like the way healthcare is being subsidize now (dont whack me on this, me not to familiar with healthcare).
DKSG
sorry i disagree. The system must not penalise pple whom work harder/smarter/more effort and achieve more results.
Higher income earner contribute more taxes to the country. Why should they be highlighted for differential treatment.
Now DKSG, u tell me if this is fair. You work damn hard in company, climb to Directors of sales position because you are very capability and commit all you time to your company. Thus u are earning much higher than your colleagues. Now your company decides to send the whole company to an incentive trip cos of a great year. Everyone get a Free Sq ticket and sponsored trip to europe. However as company is paying u a high salary le, your colleagues all petition that you should not get this benefit as you can well afford to pay on your own. so they can take your benefits and can buy 1 more latte and donuts for the whole company.
HOw would u feel? u probably feel y are u penalized, as u r the very reason y those ungrateful brats gets to fly to Europe in the first place.
HDB is "subsidized" housing, and its executed up front as a discount to the "now" price of similar flats nearby. HDB flat is a asset, its a birth right to all Singaporeans, to have a stake in the growth n development of your country whom we work damn hard in and PAY n PAY n PAY for every damn thing.
Y u wanna take away something that is our birth right?
My reason to believe that HDB flat owners buying PC must dispose of their units is due to other reasons - and that is to protect the Citizens!
As we know, foreigners can come and leave easily. Currently, it is these people holding HDB flats and renting to these foreigners as a cheap form of housing. However, when recession comes, they will be holding empty units! Basically, govt transfer these risks of providing temporary housing to these people. That is why must keep resale HDB flats expensive to provide incentives to make them hold on to their HDB flats and rent out (to foreigners, of course - which citizens will rent HDB flats for long term?!), must build so many new HDB BTOs to citizens, must allow citizens to rent out whole HDB flats. However, when the recession comes, the pricing of HDB flats will be worst because of massive over-building now! This will be similar to the period from 1998-2006 when HDB flats prices drop almost 35% and then stay there for almost 8 long years! People just forgot about these! Since govt want to attract so many low-class working foreigners (these are not foreign-talents because the latter group will be living in condos and not HDB flats), we should just leave it to the govt to provide the temporary cheap housing such as dormitories, and not massively built HDB flats to provide housing for them and see their prices collapse when economic recession comes. Why so stupid to take over the risks from them? :beats-me-man: My suggestion of having dormitories to house these foreign workers will ensure that there is no HDB housing over-supply that will crash HDB flats prices in future. (Tell them to stop building so many new HDB flats!).
Thought previously they wanted to allow private companies to build & operate cheap-skate low-quality dormitories for these foreign workers to live in, what happened to that plan now? :rolleyes:
Someone should send this suggestion/petition to MND.
HDB owners buying PC have to dispose unit within 6 months upon TOP.
HDB owners currently owning a PC and HDB MUST dispose the HDB within 12-18 months.
HDB is meant to be subsidised housing and it is our national agenda to NOT subsidize citizens who exhibit certain level of wealth. Just like the way healthcare is being subsidize now (dont whack me on this, me not to familiar with healthcare).
DKSG
sorry i disagree. The system must not penalise pple whom work harder/smarter/more effort and achieve more results.
Higher income earner contribute more taxes to the country. Why should they be highlighted for differential treatment.
Now DKSG, u tell me if this is fair. You work damn hard in company, climb to Directors of sales position because you are very capability and commit all you time to your company. Thus u are earning much higher than your colleagues. Now your company decides to send the whole company to an incentive trip cos of a great year. Everyone get a Free Sq ticket and sponsored trip to europe. However as company is paying u a high salary le, your colleagues all petition that you should not get this benefit as you can well afford to pay on your own. so they can take your benefits and can buy 1 more latte and donuts for the whole company.
HOw would u feel? u probably feel y are u penalized, as u r the very reason y those ungrateful brats gets to fly to Europe in the first place.
HDB is "subsidized" housing, and its executed up front as a discount to the "now" price of similar flats nearby. HDB flat is a asset, its a birth right to all Singaporeans, to have a stake in the growth n development of your country whom we work damn hard in and PAY n PAY n PAY for every damn thing.
Y u wanna take away something that is our birth right?
Yes... totally, why should penalise these people? Especially, if the hdb has already been fully paid and/or did not take any form of grants. Moreover, even if they are renting it out, it's a form of contribution to the economy both in addition tax payment and provide support to FT otherwise FT can only rent from private properties???!!!
CM6 could be measures to restrict the use of CPF for 2nd property even though 1st property has been fully paid. So far, this area has not been touched and gahmen may need measures in place to protect CPF savings. :beats-me-man:
:doh: As though most of the people are idiots and don't know how to manage their own money? Are we going to see such mentality treatment again? :simmering:
CM6 could be related to the use of CPF for 2nd property even though 1st property has been fully paid. So, far this area has not been touched and gahmen may need measures in place to protect CPF savings. :beats-me-man:
:doh: As though most of the people are idiots and don't know how to manage their own money? Are we going to see such mentality treatment again? :simmering:
Ya lor. Otherwise no need CM 1 to 5 oredi.:doh: :doh: :doh: :tongue3:
Heard many talking that the CMs has a bias as to push more favorable terms & conditions to buy new launch properties at the expense of resale properties (since there can only be so many buyers right? Say total 1000 buyers, all can buy new launch at >30% premium or say all can buy resale at >30% discount to new launch - So make it more favorable to buy new launch for them? Is it any wonder that resale transactions plunged so much and new launch sales gone up so much despite the facts that resale are generally >30%-50% cheaper than new launch?). :ashamed1:
Ya lor. Otherwise no need CM 1 to 5 oredi.:doh: :doh: :doh: :tongue3:
Heard many talking that the CMs has a bias as to push more favorable terms & conditions to buy new launch. :ashamed1:
even more bias to new launch?? so we will see 2000psf at RCR launches??
i think that is one market that doesn't need more favouring because it's taking the resale market along with it.
it's probably counterproductive.
You have to ask where the new launch land come from right? :beats-me-man:
even more bias to new launch?? so we will see 2000psf at RCR launches??
i think that is one market that doesn't need more favouring because it's taking the resale market along with it.
it's probably counterproductive.
You have to ask where the new launch land come from right? :beats-me-man:
so then they release land is not to cool the market? so many people waiting at the sidelines with their assurance for cooling off by releasing more land leh.
Yes, they definitely cool resale market very effectively! If you looking at the other market, fat hope! :p
so then they release land is not to cool the market? so many people waiting at the sidelines with their assurance for cooling off by releasing more land leh.
Someone should send this suggestion/petition to MND.
HDB owners buying PC have to dispose unit within 6 months upon TOP.
HDB owners currently owning a PC and HDB MUST dispose the HDB within 12-18 months.
HDB is meant to be subsidised housing and it is our national agenda to NOT subsidize citizens who exhibit certain level of wealth. Just like the way healthcare is being subsidize now (dont whack me on this, me not to familiar with healthcare).
DKSGCannot lah... not practical.. there are at least couple of thousand HDB units being rented out currently. How to settle this group of foreigners? Send them home or give them some cash to upgrade to PC?
I think if want to strike a balance of controlling the number of HDB people buying 2nd property (thus controlling the various risk involved )..
limit the aspiring 2nd property owners the followings:
1) HDB flat must be fully paid up before allow to buy second property..
2) or impose a ABSD on 2nd property buyer(but this will definitely furhter hit the group affected by ABSD CM5)
3)OR etc..
;)
I think if want to strike a balance of controlling the number of HDB people buying 2nd property (thus controlling the various risk involved )..
limit the aspiring 2nd property owners the followings:
1) HDB flat must be fully paid up before allow to buy second property..
2) or impose a ABSD on 2nd property buyer(but this will definitely furhter hit the group affected by ABSD CM5)
3)OR etc..
;)
Plus only citizens allowed to buy resale HDB...and yes only this you will see resale hdb prices tumbling....
Akira Fudou
22-04-12, 21:23
Plus only citizens allowed to buy resale HDB...and yes only this you will see resale hdb prices tumbling....
Ha then y dont you suggest, PR can BTO.
Ha then y dont you suggest, PR can BTO.
read my post again?:doh:
infact PR should not be entitled to public housing at all - perhaps a 20% SD on PR buying resale HDB will be better!!!
Akira Fudou
22-04-12, 21:49
read my post again?:doh:
infact PR should not be entitled to public housing at all - perhaps a 20% SD on PR buying resale HDB will be better!!!
Read my post again to see the deeper meaning... If PR can BTO, what do you think will happen to HDB resale price
Cannot lah... not practical.. there are at least couple of thousand HDB units being rented out currently. How to settle this group of foreigners? Send them home or give them some cash to upgrade to PC?
Sell HDB with tenancy? Lol
sorry i disagree. The system must not penalise pple whom work harder/smarter/more effort and achieve more results.
Higher income earner contribute more taxes to the country. Why should they be highlighted for differential treatment.
Now DKSG, u tell me if this is fair. You work damn hard in company, climb to Directors of sales position because you are very capability and commit all you time to your company. Thus u are earning much higher than your colleagues. Now your company decides to send the whole company to an incentive trip cos of a great year. Everyone get a Free Sq ticket and sponsored trip to europe. However as company is paying u a high salary le, your colleagues all petition that you should not get this benefit as you can well afford to pay on your own. so they can take your benefits and can buy 1 more latte and donuts for the whole company.
HOw would u feel? u probably feel y are u penalized, as u r the very reason y those ungrateful brats gets to fly to Europe in the first place.
HDB is "subsidized" housing, and its executed up front as a discount to the "now" price of similar flats nearby. HDB flat is a asset, its a birth right to all Singaporeans, to have a stake in the growth n development of your country whom we work damn hard in and PAY n PAY n PAY for every damn thing.
Y u wanna take away something that is our birth right?
SUPER LIKE +100
Someone should send this suggestion/petition to MND.
HDB owners buying PC have to dispose unit within 6 months upon TOP.
HDB owners currently owning a PC and HDB MUST dispose the HDB within 12-18 months.
HDB is meant to be subsidised housing and it is our national agenda to NOT subsidize citizens who exhibit certain level of wealth. Just like the way healthcare is being subsidize now (dont whack me on this, me not to familiar with healthcare).
DKSG
LIKE :-) :-)
Sell HDB with tenancy? Lol??? Its about HDB owners cannot rent coz HDB is subsidize housing. Now sell with tenancy means can still rent out HDB lah then like that don't need to sell in the first place lor... :cheers3:
SUPER LIKE +100
hahaha, thanks. HDB flat is the only good policy that have benefited everyone, now even 1000 monthly income can hope to buy. Tharman say one.
Pls, any sensible SGan pls dont suggest anything to take our stepping stone of financial freedom away. Pls let us continue to buy from the supplier while PR buy or rent from us. Carb say one, buy from the source.
CM6 should target the main group of people blatantly making use of government subsidies (from general taxpayers) to buy their first HDB and sell it at high price.
HDB owners who have enjoyed the generous subsidies should be made to return the subsidies in full to the country's coffers when they are looking at upgrading to bigger flats or condos. They should take it as a loan rather than a gift. This privilege isn't made available to everyone on an equal basis.
CM6 should target the main group of people blatantly making use of government subsidies (from general taxpayers) to buy their first HDB and sell it at high price.
HDB owners who have enjoyed the generous subsidies should be made to return the subsidies in full to the country's coffers when they are looking at upgrading to bigger flats or condos. They should take it as a loan rather than a gift. This privilege isn't made available to everyone on an equal basis.
bro reuters, that is the privilege of being Singaporean. Only time we can get something from govt, while they think of innovative ways to suck $$ from us. Like policman taking cameras standing on bridge using lazer gun to point at us. potential GPS per km road pricing in a few years time.
Anyway , the subside is pretty good to help transfer some wealth from national coffers to the young and poor. To me its good. Anyway the policy of Govt is the reduce the "gap" ma. What better way to help pple purchase the most important asset in their starting years. That $$$$ can easily come from sales of few piece of land. the little subsidies they give us they got many ways ti take back... pls dont suggest any ideas to them already.
pls dont suggest anything ok bros, to stop the BEST thing that the GOVT is giving to Us. as my idol master 3rd eye BJ21says! LEt it be our turn be the landlords and rent to PRs and ang mos!!!!
Read my post again to see the deeper meaning... If PR can BTO, what do you think will happen to HDB resale price
i dont wish KBW to go....:beats-me-man:
and u know what will happen in the next polling..:o
hahaha, thanks. HDB flat is the only good policy that have benefited everyone, now even 1000 monthly income can hope to buy. Tharman say one.
Pls, any sensible SGan pls dont suggest anything to take our stepping stone of financial freedom away. Pls let us continue to buy from the supplier while PR buy or rent from us. Carb say one, buy from the source.
LIKE LIKE LIKE LIKE....so our next generation can have a place to stay too...
??? Its about HDB owners cannot rent coz HDB is subsidize housing. Now sell with tenancy means can still rent out HDB lah then like that don't need to sell in the first place lor... :cheers3:
No, it means force sell even if currently got tenant inside. But new owner need to let tenancy run until finish then after that NO MORE RENTING OUT!!!!!
Eldenfirefly
23-04-12, 15:40
My suggestion.
1) Units below 600 sq feet no longer allowed.
2) Above 1 million, 5% additional stamp duty tax. Above 2 million, 10% additional stamp duty tax, above 3 million, 15% tax.
So, incentive to keep the price low, yet cannot rely on MM units to charge super high psf. Yes, the rich will complain. But you are rich mah, so can afford to pay more, transfer more wealth to government so that they can then go and help to poor lor. What to do. Singapore already have a of the highest income gap in the world.
Also, this way, the 80% or more people living in HDB not affected (unless HDB chiong to over 1 million). So, majority of the people are happy.
My suggestion.
1) Units below 600 sq feet no longer allowed.
2) Above 1 million, 5% additional stamp duty tax. Above 2 million, 10% additional stamp duty tax, above 3 million, 15% tax.
So, incentive to keep the price low, yet cannot rely on MM units to charge super high psf. Yes, the rich will complain. But you are rich mah, so can afford to pay more, transfer more wealth to government so that they can then go and help to poor lor. What to do. Singapore already have a of the highest income gap in the world.
Also, this way, the 80% or more people living in HDB not affected (unless HDB chiong to over 1 million). So, majority of the people are happy.
like like like like like 1000X like :D
No, it means force sell even if currently got tenant inside. But new owner need to let tenancy run until finish then after that NO MORE RENTING OUT!!!!!
u join political party than talk about it in the next on coming election...suggest u join other parties but not PAP or WP...:p I dont wish to see either one suffer because of this...:p
u join political party than talk about it in the next on coming election...suggest u join other parties but not PAP or WP...:p I dont wish to see either one suffer because of this...:p
Aiyo touch on raw nerve liao huh. You have hdb and probably own pc and letting out hdb or waiting for its completion? :-)
My suggestion.
1) Units below 600 sq feet no longer allowed.
2) Above 1 million, 5% additional stamp duty tax. Above 2 million, 10% additional stamp duty tax, above 3 million, 15% tax.
So, incentive to keep the price low, yet cannot rely on MM units to charge super high psf. Yes, the rich will complain. But you are rich mah, so can afford to pay more, transfer more wealth to government so that they can then go and help to poor lor. What to do. Singapore already have a of the highest income gap in the world.
Also, this way, the 80% or more people living in HDB not affected (unless HDB chiong to over 1 million). So, majority of the people are happy.
What is the point in having more CMs if they don't affect the prices of the HDBs? If 80% stay in HDBs, shouldn't the CMs be targeted at bringing down the price of the HDBs? It is like saying that the normal car price is too high now for the common folks, but nevermind, let's make the Rolls Royces cheaper. Don't make sense!
They should change payment of SSD till after the first 5 years since that is the minimum occupancy. If they want to sell after the 5th year, SSD starts. ie, from the 6th year, you pay 5%, 7th year you pay 4%....3%....2%...1%. There should be a distinction from private condos. HDB is NOT private!
You want more revenue from the rich? Target properties are useless. You should ask govt to increase income tax & Corporate tax to 40% for income above $1m! To keep living costs low, abolish GST, & break up all the REITs from monopolizing commercial rental markets & flood market with massive number of the commercial properties instead to make commercial rents cheap! :2cents:
My suggestion.
1) Units below 600 sq feet no longer allowed.
2) Above 1 million, 5% additional stamp duty tax. Above 2 million, 10% additional stamp duty tax, above 3 million, 15% tax.
So, incentive to keep the price low, yet cannot rely on MM units to charge super high psf. Yes, the rich will complain. But you are rich mah, so can afford to pay more, transfer more wealth to government so that they can then go and help to poor lor. What to do. Singapore already have a of the highest income gap in the world.
Also, this way, the 80% or more people living in HDB not affected (unless HDB chiong to over 1 million). So, majority of the people are happy.
Eldenfirefly
23-04-12, 23:10
Yes, HDB is not private, but the private property market has a direct effect on HDB prices because new HDB flat prices are pegged to the market rate for HDB resale, and resale HDB prices are affected by ... you guessed it, the private property market.
Let's put it this way, if private property wasn't already so high, would HDB flat resale prices go up so much? The higher OCR prices go, it will just push resale HDB prices up even more because they are the next tier down. Its not realistic to have OCR prices there in the sky, and HDB resale prices down here back on earth. If they can't keep private condo prices from spiralling out of control, then they won't be able to stop HDB prices from going out of control either.
But during '08~1Q'09 pte price falling, resale hdb prices rock solid wor.
Eldenfirefly
23-04-12, 23:15
You want more revenue from the rich? Target properties are useless. You should ask govt to increase income tax & Corporate tax to 40% for income above $1m! To keep living costs low, abolish GST, & break up all the REITs from monopolizing commercial rental markets & flood market with massive number of the commercial properties instead to make commercial rents cheap! :2cents:
Government doesn't need more revenue from the rich. They already have tons of money. They just need to keep the gap from getting too much wider. Raising income and corporate tax doesn't work, it will just cause the rich to take their business elsewhere.
Eldenfirefly
23-04-12, 23:17
But during '08~1Q'09 pte price falling, resale hdb prices rock solid wor.
Because when private property prices went up, HDB didn't follow, so its just playing late catch up now. :)
You want more revenue from the rich? Target properties are useless. You should ask govt to increase income tax & Corporate tax to 40% for income above $1m! To keep living costs low, abolish GST, & break up all the REITs from monopolizing commercial rental markets & flood market with massive number of the commercial properties instead to make commercial rents cheap! :2cents:
just a question? why would govt target the rich?
a lot of civil servants, like ministers are rich, so why they should be shooting themselves in the foot?
Exactly! :D
just a question? why would govt target the rich?
a lot of civil servants, like ministers are rich, so why they should be shooting themselves in the foot?
I am trying to propose a solution to the problem, & they are known to have the steel integrity, honesty, & will to see tough laws through & hopefully do so for the benefits of majority of Singapore citizens & not just favorable policies for the rich? :beats-me-man:
just a question? why would govt target the rich?
a lot of civil servants, like ministers are rich, so why they should be shooting themselves in the foot?
Exactly! :D
removal of estate duty when MrsLee KO for example. if dont remove, then familee has to pay lots of estate duty.
:scared-1: :confused:
removal of estate duty when MrsLee KO for example. if dont remove, then familee has to pay lots of estate duty.
Aiyo touch on raw nerve liao huh. You have hdb and probably own pc and letting out hdb or waiting for its completion? :-)
aiyo what u talking? alot of them selling HDB now not many renting out(go and check the HDB figure of rental as this point has been brought up by KBW before), rather the HDB resale price today has reached to a point that is tempting for people to sell now..(some resale HDB are asking more than PC in OCR)
possible consequences those who sell will be saddled with cash..than what?(than u guess lah, in short, this will create another source of liquidity as they will go and fuel the prpoerty demand in the market and possibly pushing the price higher and higher lo )...:D
CM5 - kill the foreign buying and slow down the CCR sales
Left is OCR and new/upgrader SG buyers. So that will be target for CM6, if any. Anyway this is the group of buyers the Govt is afraid of taking on more than they can chew.
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