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Thread: [BREAKING NEWS]: Property Prices Still Rising !!!!

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    Default [BREAKING NEWS]: Property Prices Still Rising !!!!

    http://sg.yfittopostblog.com/2011/03...s-on-the-rise/

    Property prices still rising

    By iProperty.com Singapore – March 4th, 2011



    http://yfittopostblogsg.files.wordpr...hdbs.jpg?w=620
    Despite the cooling measures, property prices continue to increase (Image courtesy of Singapore Tourism Board).


    With the Urban Redevelopment Authority (URA) releasing its figures about the price of Singapore property recently, now seems a good time to look back at a year where the Singapore government took unprecedented measures to attempt to cool the Singapore property market.


    COV down
    Cash-over-valuation (COV) for resale Housing Development Board (HDB) units — the amount that home owners often ask for above the official valuation of their property –- is falling from its 4Q 2010 average of $23,000, indicating that the Singapore government’s cooling measures may be beginning to take effect.


    Prices on the Increase
    However, figures from the Urban Redevelopment Authority (URA) — Singapore’s national land use planning authority — show that overall prices of private residential properties increased by 2.7% in 4Q 2010, compared with the 2.9% increase in the previous quarter.

    In fact, for the whole of 2010, prices had increased by 17.6%, compared with the 1.8% rise in 2009. Worrying news, given that two sets of cooling measures were introduced in 2010 with the sole aim of reducing further property speculation that was pushing up process.


    Private Property


    The URA’s figures also revealed that prices of non-landed properties increased by 1.8% in 4th Quarter 2010, compared with the 1.6% increase in the previous quarter.

    For the year 2010 as a whole, prices of non-landed properties increased by 14.0% — a massive increase that may indicate the first forming of a property bubble. Overall, in 4Q 2010, prices of apartments increased by 2.4%, while prices of condominiums increased by 1.6%.


    Rental
    There is mixed news for the rental market.


    While some expected the proviso in the recent cooling measures relating to the non-ownership of private property in Singapore or abroad by HDB-home owners to bring rental prices down, the figures beg to differ.

    Rentals of private residential properties increased by 2.6% in 4th Quarter 2010, report URA, compared with the 3.6% increase in the previous quarter. Rental prices saw a massive hike for the year 2010 as a whole, with rentals of private residential properties rising by 17.9%.


    For the most authoritative and comprehensive listing of properties for sale or rent, go to www.iProperty.com.sg


    For more property news, real estate reports and celebrity home features, head to www.iproperty.com.sg/resources



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    Rumour has it 5th cooling measure will simply only allow one property per name and prevent people from buying.

    Preventing people from selling will only cut supply on the market thus pushing prices up further.

    What are your thoughts of any 5th cooling measure ??

    How drastic will it be ??

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    Quote Originally Posted by wenqing
    Rumour has it 5th cooling measure will simply only allow one property per name and prevent people from buying.

    Preventing people from selling will only cut supply on the market thus pushing prices up further.

    What are your thoughts of any 5th cooling measure ??

    How drastic will it be ??
    RUMOR has it that 5th cooling measure will come in April. It will disallow multiple property ownership and in retrospect. That means people who currently own multiple properties registered under personal name and not company can keep only one and dispose of all the rest within 18 months. There will no more be such thing as 70% or 60% loan - all default first (and only) private loan will be 50% only. Private buyers using CPF - need to set aside minimum sum for even the first property. SSD will be over 5 year period starting with 50%, 40%, 30%, 20%, 10%.

    HDB remains at 80% for first loan. HDB owner cannot ever own private property - means current owners need to dispose of any private property within 18 months as well.

    Remember - RUMOR has it.

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    Singapore usually takes its cue from HK property cooling measures.
    Did HK do that?

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    Quote Originally Posted by wenqing
    Rumour has it 5th cooling measure will simply only allow one property per name and prevent people from buying.
    Too draconian. No way this can be implemented in the private pty mkt, we are not China. As for HDB, that's another story............

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    Yah, private property is a free market, the govt will not do that, or else their own income will reduce drastically as well haa haa....

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    Already, subsale asking prices softening.

    If government only allow holding HDB or even holding just one private property, STI will drop 20% in one day, hardest hit will be Temasek companies and banks. Don't spread nonsense rumour lah

    Japan nuclear reactor is melting .... what if radioactive material covers the entire Tokyo ... market will crash, no need another cooling measure.
    Ride at your own risk !!!

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    Quote Originally Posted by mcmlxxvi
    RUMOR has it that 5th cooling measure will come in April. It will disallow multiple property ownership and in retrospect. That means people who currently own multiple properties registered under personal name and not company can keep only one and dispose of all the rest within 18 months.
    Anyone has a count of the number of properties own by the ministeries and their relatives...

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    Quote Originally Posted by propertychap
    Singapore usually takes its cue from HK property cooling measures.
    Did HK do that?
    I thought Singapore is always Number 1 in everything as some people here proclaim to be.

    It should be HK copying us right and not Singapore copying HK.

    Only Singapore government is talented and not corrupt because we are the only government in the world to peg government pay to be highest than private sector pay.

    The rest of the world has no talent and is very corrupt.


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    Quote Originally Posted by Laguna
    Anyone has a count of the number of properties own by the ministeries and their relatives...
    never see hollywood movies?
    If anyone check data, flags will be raised, and they will trace who is the one who request the information.
    Also, they also not so stupid as to use own name to buy, use offshore shell companies with several layers in between

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    Quote Originally Posted by Laguna
    Anyone has a count of the number of properties own by the ministeries and their relatives...
    Remember Nassim Jade?
    Can check whether caveats ever lodge in personal names.

    one example:
    CAVEATS LODGED AT LAND TITLES REGISTRY AGAINST UNITS IN NASSIM JADE
    http://www.tangtalk.com/hplchart.html
    compare psf and draw your own conclusions.

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    Quote Originally Posted by wenqing
    Rumour has it 5th cooling measure will simply only allow one property per name and prevent people from buying.

    Preventing people from selling will only cut supply on the market thus pushing prices up further.

    What are your thoughts of any 5th cooling measure ??

    How drastic will it be ??
    rumour say no bank loan at all and totally cannot use CPF and every household(not individual) can only own one ppty

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    Quote Originally Posted by phantom_opera
    Already, subsale asking prices softening.

    If government only allow holding HDB or even holding just one private property, STI will drop 20% in one day, hardest hit will be Temasek companies and banks. Don't spread nonsense rumour lah

    Japan nuclear reactor is melting .... what if radioactive material covers the entire Tokyo ... market will crash, no need another cooling measure.
    haf u exited all ur equities?

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    Quote Originally Posted by wenqing
    I thought Singapore is always Number 1 in everything as some people here proclaim to be.

    It should be HK copying us right and not Singapore copying HK.

    Only Singapore government is talented and not corrupt because we are the only government in the world to peg government pay to be highest than private sector pay.

    The rest of the world has no talent and is very corrupt.

    u thought only wat...it says it all

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    rumour1 has it that landed is now open to foreigners, no need permission.
    rumour2 has it that only foreigners allowed to buy 3 or more private residential properties.
    rumour3 has it that government will launch a COE system for private residential properties.

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    Quote Originally Posted by hopeful
    rumour1 has it that landed is now open to foreigners, no need permission.
    rumour2 has it that only foreigners allowed to buy 3 or more private residential properties.
    rumour3 has it that government will launch a COE system for private residential properties.

    Hahhaha


    But rumours about 1st to 4th cooling measures did come true.

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    Quote Originally Posted by wenqing
    Hahhaha


    But rumours about 1st to 4th cooling measures did come true.
    do u understand the word 'cooling'?

    its cooling and not crashing measures

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    Quote Originally Posted by devilplate
    u thought only wat...it says it all

    Singapore Number 1 in everything ?

    How come our entertainers need to go Taiwan, China and HK to advance their careers then ?

    Why our IT need to go Silicon Valley to justify reaching the highest peak of their career ?

    Why so many lawyers and bankers prefer to work outside Singapore for career advancement ?

    Not going to debate with you but I do not like to generalise things so simply.



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    Quote Originally Posted by devilplate
    do u understand the word 'cooling'?

    its cooling and not crashing measures
    4th cooling measure almost crash the market.

    The other cooling measures were a waste of time.

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    Quote Originally Posted by hopeful
    Remember Nassim Jade?
    Can check whether caveats ever lodge in personal names.

    one example:
    CAVEATS LODGED AT LAND TITLES REGISTRY AGAINST UNITS IN NASSIM JADE
    http://www.tangtalk.com/hplchart.html
    compare psf and draw your own conclusions.
    This sounds like China's 'Guan Xi' and Hollywood style of seeking favours.

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    Quote Originally Posted by wenqing
    Singapore Number 1 in everything ?

    How come our entertainers need to go Taiwan, China and HK to advance their careers then ?

    Why our IT need to go Silicon Valley to justify reaching the highest peak of their career ?

    Why so many lawyers and bankers prefer to work outside Singapore for career advancement ?

    Not going to debate with you but I do not like to generalise things so simply.


    ????
    i only say u thought only wat....u told me dun anyhow assume things one wor....slapping ur own face?

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    Quote Originally Posted by wenqing
    4th cooling measure almost crash the market.

    The other cooling measures were a waste of time.
    waste of time bcos the prices din crash???

    how u noe its waste of time??? it suppose to cool the ppty price as in slowing down the rate of price increase.....and not suppose to crash the market....

    measures goto be more gradual and incremental....as nobody noe exactly wat the side effects r until u implement it....

    like sm1 suggest 10-20% SGD appreciation.....haha....tat one i wud consider it as joke of the year

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    Actually, COE system for 3 or more condos, seems to be quite workable.
    does. Will encourage to buy and hold for a long time.

    imagine same project bought by new property buyer and rich person holding 5 units.
    cost for rich person is higher since has to pay COE. So won't flip easily because profit is less than the 1 condo owner.

    the collorary is it would encourage flipping, which of course is covered by SSD.

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    Quote Originally Posted by hopeful
    Actually, COE system for 3 or more condos, seems to be quite workable.
    does. Will encourage to buy and hold for a long time.

    imagine same project bought by new property buyer and rich person holding 5 units.
    cost for rich person is higher since has to pay COE. So won't flip easily because profit is less than the 1 condo owner.

    the collorary is it would encourage flipping, which of course is covered by SSD.
    i tink measures r targetting 1st timer or HDB upgradders rite? as they r the most vulnerable.....

    ur suggestion seems to protect the richies....hehe

    my own wish list with regards to PTE ppty:

    1)URA set min 500sqft guideline for 1bedder, 750sqft for 2bedder and 1000sqft for 3bedder.... and limit up to 20% of 1bedder allowed in every project and min 20% of 3bedder in every project.....

    2)SSD commence from the project TOP date for BUC projects

    3)current 16% ...4yrs SSD is too harsh.....grey area formed....no good....need to adjust and tone it down...it will work well if implement it together with point no.2

    4) staggered capital gain tax may work better.....30% 1st yr, 20% 2nd yr, 10% 3rd yr , 4th yr 5% and zero onwards

    dun tink its too harsh rite? measures shd be more balanced.....the last round of measures seems to kill the resale market which shd not be the case...y penalise genuine long term investor/upgradders when they looking into resale market rite?

    point number 1 actually vy impt.....protect investors, ppty landscape and promote better social stability and preventing micro MM units from distorting the PSF....

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    Quote Originally Posted by devilplate
    waste of time bcos the prices din crash???

    how u noe its waste of time??? it suppose to cool the ppty price as in slowing down the rate of price increase.....and not suppose to crash the market....

    measures goto be more gradual and incremental....as nobody noe exactly wat the side effects r until u implement it....

    like sm1 suggest 10-20% SGD appreciation.....haha....tat one i wud consider it as joke of the year
    Previous 3 cooling measures were a waste of time because it did not meet the end objective of cooling the market, instead prices continue to skyrocket..

    I did not say crash the market.

    If it was not a waste of time, 4th cooling measure would not come out.

    The cooling measures was as good as not having any.

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    Quote Originally Posted by wenqing
    Previous 3 cooling measures were a waste of time because it did not meet the end objective of cooling the market, instead prices continue to skyrocket..

    I did not say crash the market.

    If it was not a waste of time, 4th cooling measure would not come out.

    The cooling measures was as good as not having any.
    aiya...later on prices starts to escalate and 5th measures comes out and den 4th measures become waste of time?

    and later 5th or 6th measure out and coincides with a global crisis and den ppl can say govt measures crash the ppty market again as wat they did in 96-97?

    vy cute indeed

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    The underlying message is that any measures will be graduate... If 1 shoot super hardhanded, investors alike ran fast fast sure crash ! Graduate n calibrated sound like a well planned policy

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    actually the COE measures are targetting the richies

    same project, 1st time private property buyer pay $1mil
    the richies with multiple property pay $1mil + $ 200k COE.

    Price increase to $1.2mil.
    1st time buyer paper profit $200k
    richies paper profit $0.

    It is a tax on the wealthy's profit. Less incentive for wealthy to buy many properties.

    It doesnt encourage people to hold for long, more profitable to buy and sell.
    But there's where the SSD comes in. If buy and sell within short period, SSD kicks in.

    different grades of COE based on different types of properties and districts.
    If foreigner want to buy landed properties, pay COE for landed to government.

    Maybe 100 COEs for landed for foreigners per year. foreigners bid up the price of the COEs.
    More money to government

    Given that it is based on number of properties instead of quantum, the wealthy will not speculate on 20 units of MM.
    Instead they would focus on smaller number of bigger units in pricier districts.
    So they don't play OCR, RCR properties, which is for HDB upgraders and 1st time buyers.

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    Quote Originally Posted by hopeful
    actually the COE measures are targetting the richies

    same project, 1st time private property buyer pay $1mil
    the richies with multiple property pay $1mil + $ 200k COE.

    Price increase to $1.2mil.
    1st time buyer paper profit $200k
    richies paper profit $0.

    It is a tax on the wealthy's profit. Less incentive for wealthy to buy many properties.

    It doesnt encourage people to hold for long, more profitable to buy and sell.
    But there's where the SSD comes in. If buy and sell within short period, SSD kicks in.

    different grades of COE based on different types of properties and districts.
    If foreigner want to buy landed properties, pay COE for landed to government.

    Maybe 100 COEs for landed for foreigners per year. foreigners bid up the price of the COEs.
    More money to government

    Given that it is based on number of properties instead of quantum, the wealthy will not speculate on 20 units of MM.
    Instead they would focus on smaller number of bigger units in pricier districts.
    So they don't play OCR, RCR properties, which is for HDB upgraders and 1st time buyers.
    aiya...ur suggestion oredi skewed towards ur investment strategy/portfolio....

    pay COE....it will discourage the rich to buy more ppty(hence, protecting the richies from over commiting ....tats y i say protecting the richies)

    when market noes now the richies goto pay COE for multiple ppty....market will sort of priced in the COE into the final selling price.....which in turn may raise up the every seller expectation's on their selling price liao.....

    just like COE increase, the resale value of 2nd hand cars aso increase despite having a much lower COE tag to tat 2nd hand car

    and for LANDED, PR/foreigner shd only be allowed to buy those 99LH landed ppty and not any of those 999 or worse FH landed....

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    Quote Originally Posted by DaytonaSS
    The underlying message is that any measures will be graduate... If 1 shoot super hardhanded, investors alike ran fast fast sure crash ! Graduate n calibrated sound like a well planned policy
    Gradual and calibrated approach also need to see gradual and calibrated approach of price drop but went up further instead.

    This is why I said first 3 measures was as good as not having any as it did not meet is goal and KPI.

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