Budget 2016 : Finance Minister on Cooling Measures and Property Market

[watchlist88]

Finance Minister Heng Swee Keat said : Some have asked about the range of measures that we have introduced to stabilise the property market since 2010. These are intended to keep the market stable and sustainable. Based on the price level and current market conditions, our assessment is that it is premature to relax these measures. We will continue to monitor developments in the property market closely.

[teddybear]

IMO, their assessment is wrong and their property cooling measures will result in property market ultimately CRASHING and they will NOT be able to turn around the situation with property SIMULATION measures by then! (Crashing property market is easy while Simulating is damned difficult!) :cat:


Finance Minister Heng Swee Keat said : Some have asked about the range of measures that we have introduced to stabilise the property market since 2010. These are intended to keep the market stable and sustainable. Based on the price level and current market conditions, our assessment is that it is premature to relax these measures. We will continue to monitor developments in the property market closely.

[henryhk]

IMO, their assessment is wrong and their property cooling measures will result in property market ultimately CRASHING and they will NOT be able to turn around the situation with property SIMULATION measures by then! (Crashing property market is easy while Simulating is damned difficult!) :cat:

Garment will not remove the measures...Unless 20% drop in property prices then maybe remove some, ... too many people have missed the boat and many are not happy, so cannot remove yet!! I think like tat is good, so tat my kids can buy the property at cheaper price next time befo the price escalate again! Well done👍🏻

[Kelonguni]

Last time ERP and COE were also "temporary" measures until they were established as luxury taxes.

The same appears to be happening to taxes on additional and especially private properties.

It won't affect the mass so HDB as well as first private property owners won't need to fork these taxes.


Garment will not remove the measures...Unless 20% drop in property prices then maybe remove some, ... too many people have missed the boat and many are not happy, so cannot remove yet!! I think like tat is good, so tat my kids can buy the property at cheaper price next time befo the price escalate again! Well done👍🏻

[teddybear]

The way you are saying is that too many people miss the boat and are not happy and they prefer property price to drop much much more (aka crash) and hence government will not remove the property cooling measures to achieve what these want?
Do Singaporeans really like property price to drop/crash?
I don't know though......

May be when property price crash just before the General Election then we will know whether Singaporeans like property price to crash or not through their votes in General Election?
Anyway, we have a chance to know come 2020 since property price likely to drop more or even crash before General Election due in 2020 (hopefully Government will not remove property cooling measures before General Election by then else there is no way to ascertain whether you thesis is correct or not).........


Garment will not remove the measures...Unless 20% drop in property prices then maybe remove some, ... too many people have missed the boat and many are not happy, so cannot remove yet!! I think like tat is good, so tat my kids can buy the property at cheaper price next time befo the price escalate again! Well done👍🏻

[bargain hunter]

let me be contrarian. i expect ppty transaction volumes to increase, not decrease after he said not going to remove measures in the short term. :)