Will CM7 be the last cooling measure?

[Laguna]

Well, after CM7, there are three possibilities could take place :

1. status quo : meant govt achieves what they want to achieve, ie market stablise...perhaps +/-5% or even 10%

2. warming measure : means market down a lot, in the region of >15%

3. further cooling measures : means the train is unstoppable

Assessing all the past cooling measures from 2007 till now, I lost count of how many already, eg removal of deferred payment, deferred stampy fee, interest absorption, LTV, SSD, ABSD etc etc.... I still believe, more cooling measures are coming.... especially now we are talking a signification population increase.

Eventually, the game is meant for the rich, cash rich....

[ikan bilis]

last ?? => TANKUKU !!.... ;)

more ABSD, and CM for commercial akan datang... :cheers4:

[cnud]

They may need to reverse it sooner than expected. Most buyers thronging showflats are likely 1st timers. How many units can be absorbed by them?

In upgraders' districts like Tampines maybe.

And why buy from developers when resale may offer better options?

[chiaberry]

I don't think it's the last yet. Despite apparently severe measures, there is still good take up of the Qbay condo units despite location (1+ km from upcoming MRT). And commercial property is super hot.

[chiaberry]

They may need to reverse it sooner than expected. Most buyers thronging showflats are likely 1st timers. How many units can be absorbed by them?

In upgraders' districts like Tampines maybe.

And why buy from developers when resale may offer better options?

Resale is disabled. Very few people want to sell, very few people can buy (no ABSD absorption for resales).

[sherlock]

Resale is disabled. Very few people want to sell, very few people can buy (no ABSD absorption for resales).
This is actually quite scary. Once the 1st timers dry up and developers will suffer. If sellers want to upgrade and cant sell then due to ABSD then there'll be an impasse :doh:

[sh]

Resale is disabled. Very few people want to sell, very few people can buy (no ABSD absorption for resales).

agents cham liow:scared-3:

[cnud]

Resale is disabled. Very few people want to sell, very few people can buy (no ABSD absorption for resales).

From a 1st timer POV. Resale offers better options. Stay now, no need rent, same 80% LTV. Why are they flocking new projects?

[Shanhz]

From a 1st timer POV. Resale offers better options. Stay now, no need rent, same 80% LTV. Why are they flocking new projects?

1st timer.. more likely than not, newly or gg to get married. usually prefer brand new house (me is abnormal, i bought a resale hdb). resale gotta deal with all patterns of agents and sellers. very new resale price too high, might as well consider brand new since can get at least 7% discount on new. very old resale too many probs to solve like leaking toilets etc. somemore the gap between resale and new is becoming smaller as resale sellers generally not in a hurry to sell now. conclusion: 1st timer will flock to new, after that devp suffer, price will drop. ironically, global economy recovery may possibly cause a correction in our housing prices.

[samuelk]

I don't think it's the last yet. Despite apparently severe measures, there is still good take up of the Qbay condo units despite location (1+ km from upcoming MRT). And commercial property is super hot.
there used to be speculation on hawker stalls. Now move to commercial.

once a new lobang appears the loop hole is closed. Heard the next best thing could be thailand holiday resort.:beats-me-man:

[chiaberry]

once a new lobang appears the loop hole is closed. Heard the next best thing could be thailand holiday resort.:beats-me-man:

Wouldn't touch. A lot of political risk there.

[buttercarp]

If suddenly they say foreigners can sell back only to locals (like in Australia), then maybe the demand on the foreigners part will drop.

[samuelk]

If suddenly they say foreigners can sell back only to locals (like in Australia), then maybe the demand on the foreigners part will drop.
as a resort, its like a rental yield like hotel. Low cost setup ike a motel.

[FREDDIE]

Well, after CM7, there are three possibilities could take place :

1. status quo : meant govt achieves what they want to achieve, ie market stablise...perhaps +/-5% or even 10%

2. warming measure : means market down a lot, in the region of >15%

3. further cooling measures : means the train is unstoppable

Assessing all the past cooling measures from 2007 till now, I lost count of how many already, eg removal of deferred payment, deferred stampy fee, interest absorption, LTV, SSD, ABSD etc etc.... I still believe, more cooling measures are coming.... especially now we are talking a signification population increase.

Eventually, the game is meant for the rich, cash rich....



If property drop more than 10% a lot a them will go in and push the market back to normal. CM7 will stay at least for 1.5-2 year time.
Remenber 2 years later a lot of condos will TOP or near TOP cause market go flat for another 2 years. So next 4-5 years market movement not so much.:)

[proud owner]

Wouldn't touch. A lot of political risk there.

i know many singaporeans are buying some really cheap condos in Florida USA ...

120k usd can get 6 units ... able to rent out

sounds good

but they are rented to tourist on short term basis ...and during peak season

once the peak season is over ... the unit can be empty for the next 6 mths


so be careful what u buy

[Laguna]

i know many singaporeans are buying some really cheap condos in Florida USA ...

120k usd can get 6 units ... able to rent out

sounds good

but they are rented to tourist on short term basis ...and during peak season

once the peak season is over ... the unit can be empty for the next 6 mths


so be careful what u buy

If u want to take my words : don't take this...
the maintenance cost is very very high and not within your control

[eng81157]

CM7 is a lame duck, most private property speculators have already been wiped out by previous CMs - chinese saying that goes by "drawing legs on a snake"

KenoBiWan announced plans to build 200k new flats. multiply it by 4 per household and viola, population of more than 6mil. take a guess whether demand for housing will increase or decline?

[ikan bilis]

cow & botak pls help !!.....

you cm7 effect waned liow.... property market in fever again... please must quickly increase dosage to....

ABSD
- citizen ABSD: 2nd home from 7% to 10%, 3rd home from 10% to 15%....
- foreigner ABSD: from 15% to 20%
- all home owned by non-individual: 20% ABSD
- all commercial/industrial owned by individual: 15% (companies not affected)

Max LTV
- citizen: 1st private home from LTV max 80% to 65%, hdb not affected. 1st commercial LTV max 70%, 2nd commercial LTV max 40%
- foreigner: all LTV (home or commercial) max at 40%, or financed from oversea

Land/title Lease
- all residential & commercial GLS reduced to LH60
- transitional home sites of LH25, & transitional office sites of LH15 will be introduced, to cool all rental market...


must whack the property bulls jialat jialat to cool the market!!...:cheers5:

[amk]

In 1996, foreigner couldn't obtain SGD loan. What LTV ? ;)

Gov can still do many things. It still has not touched CPF.

[kane]

doubt it'll be the last.

[chiaberry]

In 1996, foreigner couldn't obtain SGD loan. What LTV ? ;)

Gov can still do many things. It still has not touched CPF.

Shhh.....don't say it here. It could become reality.

I also wanted to say something but stopped myself in case there are spies for Kenobi-wan here.

[kane]

Shhh.....don't say it here. It could become reality.

I also wanted to say something but stopped myself in case there are spies for Kenobi-wan here.


let them work a little harder and come up with more original and creative solutions.

[RCT]

let them work a little harder and come up with more original and creative solutions.

Easy.. Follow China Model.

Each Singaporean can buy 1 property only. Foreigners must be working in Singapore for 1 year or above in order to be qualify to buy 1 property. Each married family can buy a 2nd property with LTV of 60%.....

This are the CM in China..... Can our government have the guts to do this?

[ikan bilis]

Alamak!!.... cow & botak pls help !!.....

the property bulls in this condosingapore is getting more and more yaya !!... just look at their replies here... you ministers must really whack them more jialat !!... :simmering:

please make it:

Relaxing the industrial property usage
- industrial property units with build-in toilets will be allowed to be used as dormitory for up to 2 pax
- a trial period of 2 yrs and 500units/applicants will be carried out.
- if successful, it will be allowed for all industrial units. estimated 20% of industrial units with build in toilets will be applying and housing for 400,000 immediately available in 2 yrs time.
=> haha,... let the property bulls got no rental income

More tightening on loans
- besides all the LTV restrictions for loan, additional reduction of 20% in LTV for any loans bigger than S$1mil
- with immediate effect, all loan bigger than S$1mil requires mortgage protector against disability and lost of income
- with immediate effect, all property rental income cannot be used in DSR/MSR calculation

Mopping up excess liquidity in property market
- all past implemented or future cooling measures are with minimum side-effects on all reits
- all hdb retail space, office, hawker centres will be injected into a reit and be listed within 3months. estimated capital size of about S$20bil and largest reit in sgp. To absorb all the excess liquidity in the property market

Transitional SOHO, LH25
- 30 sites immediately beside MRT stations will be released as LH25 transitional soho GLS.
- all transitional soho are exempted from 75sqm rule. Average unit size will be 35sqm.
- Due to the lower plots ratio of about 2, each site yield only about 200 units. total 6000 units available.
- These are sites reserved for future development at every MRT stations. Additional 60 sites can be released any time.
- Transitional SOHO also helps to reduce loading on the MRT/land transport network

DBSS2
- DBSS will be revised to DBSS2, where it will be treated as resale flats with LH60.
- DBSS2 could be bought by PR or citizen. For SC, DBSS2 does not affect the eligibility of buying BTO flats in future
- GLS of about 10,000 DBSS2 flats will be sold to private developers in 2013. Another 10,000 in 2014. This will immediately freeze the hdb resale market which is in tight supply now.



yeah!! all property bulls now dead flat !!.... :cheers5:

[chiaberry]

Why should they want to kill the property bulls? Much of Singaporeans' wealth is locked up in property. If they want to strangle the golden geese, there will be discontent on the ground. Due to high inflation, how else are Singaporeans going to build their retirement fund? Other options are higher risk or not readily accessible to the general public.