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Thread: More CMs coming liao! Gov going discuss poperty prices!

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    Default More CMs coming liao! Gov going discuss poperty prices!


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    It is high time they look into the way a HDB is valued, what $&@Ä+ cov thing.

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    It would be interesting if we could have statistics on:
    -How many property owners are there?
    -How many property owners want their property price to rise?
    -How many non-property owner are waiting to buy?
    -How many non-property owner who are waiting to buy want property to drop?
    -Percentage of people wanting price to rise (especially current property owners) vs price to drop( especailly those waiting to buy)
    -Overall Ideal price growth /drop per annum?
    -Best vs Ideal property growth scenario
    -Worst vs Ideal property drop scenario

    If more CM cost drastic price drop, will it result in something similar to US sub-prime crisis? I wonder

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    Quote Originally Posted by Secretariat
    It is high time they look into the way a HDB is valued, what $&@Ä+ cov thing.
    COV exist because valuations can't keep up with the perceived value of the property based on the implied yield of the rental property.

    when yield was rubbish in 2002-3, people could buy hdb flats at below valuation prices.

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    I was very confused about ST report today...saying property up only 1%???

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    Quote Originally Posted by kane
    COV exist because valuations can't keep up with the perceived value of the property based on the implied yield of the rental property.

    when yield was rubbish in 2002-3, people could buy hdb flats at below valuation prices.
    but it become a vicious cycle as the next valuation will be based on the previous valuation + cov. and it keep pile up!

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    Quote Originally Posted by Laguna
    I was very confused about ST report today...saying property up only 1%???
    From Q2 to Q3?

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    Check out the Order Paper for monday's sitting:

    http://www.parliament.gov.sg/sites/d...er_15Oct12.pdf

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    Quote Originally Posted by leesg123
    but it become a vicious cycle as the next valuation will be based on the previous valuation + cov. and it keep pile up!
    That is my point.

    A vicious cycle running at high speed as well. This means no meaningful correction, any correction is off the book, at the cov layer.

    Can cov become negative?

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    Quote Originally Posted by leesg123
    but it become a vicious cycle as the next valuation will be based on the previous valuation + cov. and it keep pile up!
    actually, if you observe, valuations haven't moved much for hdb flats, even though their rentals have gone up quite a bit.

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    Quote Originally Posted by Laguna
    I was very confused about ST report today...saying property up only 1%???
    basically no direction...

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    Property related Highlights

    *1. Mr Zaqy Mohamad: To ask the Minister for National Development (a) what is the Ministry's assessment of the HDB Resale Price Index reaching a record level of 197.9 in the third quarter of 2012 in spite of cooling measures and new releases of BTO flats; (b) whether the cooling measures are effective in managing property prices and curbing property speculation; and (c) what are the Ministry's plans to assure the public that HDB and private properties will continue to remain affordable to Singapore citizens and that the Ministry has a good handle on the property market.

    *2. Ms Foo Mee Har: To ask the Minister for National Development in view of the recent record property transactions including a one million dollar Queenstown flat, whether the anticipated fresh flood of liquidity into the U.S. financial system with QE3 announced by the U.S. Federal Reserve will have an impact on property prices and affordability.


    *31. Mr Baey Yam Keng: To ask the Minister for National Development (a) how the bases of computation for HDB flat valuation compare across flats for resale, SERS and compulsory acquisition; (b) how the Ministry views the increasing cash over valuation (COV) figures; and (c) how can the system be fine-tuned to make resale flats more affordable.

    *32. Mr Lim Biow Chuan: To ask the Minister for National Development whether HDB will consider waiving the income ceiling for buying a HDB flat so that all Singapore citizens will have at least one opportunity to buy a subsidised flat from HDB.

    *53. Mr Pritam Singh: To ask the Minister for National Development (a) whether the ethnic limit of 25% for the Malay ethnic group at the block level in all HDB rental flats has been reached and, if so, when; (b) whether HDB has plans to increase this limit for the Malay ethnic group at the block level; and (c) whether HDB will consider allocating rental flats on a strict needs basis only to avoid rejection or delay as a result of the applicants' preference of rental zone.

    *54. Ms Sylvia Lim: To ask the Minister for National Development (a) what due diligence does the Building and Construction Authority (BCA) exercise before granting approval for condominium developers to use tempered glass in panels used as safety barriers at balconies despite the associated risk of spontaneous breakage; (b) what led the BCA to require the use of laminated glass instead in such panels with effect from July 2011; and (c) what is BCA's recommendation to resolve the safety issues for condominium developments which were constructed before application of the July 2011 ruling.

    *69. Ms Denise Phua Lay Peng: To ask the Minister for National Development (a) whether HDB can consider increasing the percentage and/or the absolute cap of the discount off the purchase prices of new replacement flats in SERS projects such as that in Rochor Centre and other recently announced estates affected by SERS; and (b) when this discount formula was last reviewed.

    *70. Ms Low Yen Ling: To ask the Minister for National Development (a) how many members of the public participated in online survey and face-to-face interviews during the public consultation on the Building Maintenance and Strata Management Act (BMSMA) held in April-May 2012; (b) since 2005, what is the percentage increase in (i) the number of managing agents of strata properties; and (ii) the number of strata title developments; and (c) whether the Ministry will consider an education campaign to increase awareness of the BMSMA amongst dwellers of strata title developments.

    *71. Mr Gerald Giam Yean Song: To ask the Minister for National Development whether HDB will consider building flats ahead of demand so that first-time buyers, especially young couples, can obtain the keys to their new flats earlier than what is possible under the current Build-to-Order system whereby a construction tender is called only when about 70% of the units are booked.

    *75. Ms Tin Pei Ling: To ask the Minister for National Development whether HDB will consider installing rain shielding devices or structures free of charge for HDB units and blocks affected by heavy rains after HDB upgrading works.

    *76. Mr Lim Biow Chuan: To ask the Minister for National Development whether HDB is able to install rain shelters at HDB flats so to prevent rain water from entering HDB flats during heavy downpours.

    *77. Ms Denise Phua Lay Peng: To ask the Minister for National Development (a) how other non-public housing buildings provide for bomb shelters; and (b) whether HDB can consider other alternatives to the construction of bomb shelters in new HDB flats.

    *78. Mr Baey Yam Keng: To ask the Minister for National Development how are Town Councils required to regulate and enforce the way in which HDB lift lobbies are used by residents, including the placing of objects such as bicycles and flower pots where they do not pose safety and evacuation concerns according to SCDF guidelines.

    9. Mr Lim Biow Chuan: To ask the Deputy Prime Minister and Minister for Finance (a) in the last five years, how many residents in Singapore have been declared as property traders; and (b) whether they were informed in advance that they had been declared as property traders before they were taxed on their income.

    13. Mr Gan Thiam Poh: To ask the Minister for National Development (a) what is the number of completed HDB flats that were issued with temporary occupation permits in each of the last two years and how many are projected to be completed in the current FY and in each of the next three years; (b) what is the number of completed landed and non-landed private housing units that were issued with temporary occupation permits in each of the last two years and how many are projected to be completed in the current FY and in each of the next two years; (c) what is the number of unsold public and private housing units to date; and (d) what is the projected number of new private housing units that will be released into the market in the next one year.

    14. Mr Sitoh Yih Pin: To ask the Minister for National Development on how HDB aims to stabilise the pricing of public housing given the substantial rise in the open market prices of HDB flats in recent times.



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    Give each and every Singaporeans a free HDB. Ha then won't have any problem of rising HDB prices. Straight away HDB become zero in value

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    Quote Originally Posted by Laguna
    I was very confused about ST report today...saying property up only 1%???
    yeah, for people who projects like watertown at 1400psf, their price is up only 1%, correct ah. ha.

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    Point No 32 sounds interesting. Can it extend to all Singaporeans regardless of property ownership

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    Quote Originally Posted by leesg123
    basically no direction...
    Ask any Statistician and they will tell you "Statistics donít lie, people do".

    All this 1% rise, CPI 5 % ,inflation 3 % are from Statistics but when it is presented by people it became a different story.

    June 2006 SGD 535000, June 2010 1,500,000, how much is the rise, you do the math. (QE1 & QE2 and operation twist).

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    It will be more of the same answer. We will build more, we will be vigilant and we will come in when the market is naughty.

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    now everything in a big mess they want to talk and bring down prices how to have confidence in this type of governing...what is the man in the street supposed to do....buy/sell/hold...

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    Quote Originally Posted by Allthepies
    Give each and every Singaporeans a free HDB. Ha then won't have any problem of rising HDB prices. Straight away HDB become zero in value
    Currently 80%+ of the population stays in HDB...u think they want the value to be up or down?? Isn't it obvious? Those making noise one are those minority...

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    Quote Originally Posted by lajia
    Currently 80%+ of the population stays in HDB...u think they want the value to be up or down?? Isn't it obvious? Those making noise one are those minority...
    How come 40 percent voted against PAP last election? Must be one ungrateful bunch right?

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    Because property prices didn't go up high enough for them to have an enough wind-fall!
    Since there are so many CMs, come next election may be >>40% will vote against PAP?

    Quote Originally Posted by avo7007
    How come 40 percent voted against PAP last election? Must be one ungrateful bunch right?
    Originally Posted by lajia
    Currently 80%+ of the population stays in HDB...u think they want the value to be up or down?? Isn't it obvious? Those making noise one are those minority...

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    Quote Originally Posted by teddybear
    Because property prices didn't go up high enough for them to have an enough wind-fall!
    Since there are so many CMs, come next election may be >>40% will vote against PAP?



    Originally Posted by lajia
    Currently 80%+ of the population stays in HDB...u think they want the value to be up or down?? Isn't it obvious? Those making noise one are those minority...
    Next election maybe introduce more CMs... More cooling off days before voters go to the poll.

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    Our geographical location much better than hk but our pty prices cheaper than hk, I think we have room to go up further

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    Quote Originally Posted by avo7007
    How come 40 percent voted against PAP last election? Must be one ungrateful bunch right?
    A large number want to upgrade from hdb to private but can't afford so voted against PAP

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    Quote Originally Posted by avo7007
    How come 40 percent voted against PAP last election? Must be one ungrateful bunch right?
    This one also very obvious...not all voted against them are because of HDB... if the value of hdb fall and they don't take care...hahaha...I tell you, then maybe worst, maybe 80% will vote against them

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    Quote Originally Posted by blackjack21trader
    wahlaueh..sigh
    No need so sigh lah..
    Monday first thing they will talk how come their own HDB are selling at record price.. before talk about why pty price is transacted at record price mah..

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    Well willing seller willing buyer. If got people be happy for the seller.

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    Quote Originally Posted by Kanarazu
    Check out the Order Paper for monday's sitting:

    http://www.parliament.gov.sg/sites/d...er_15Oct12.pdf
    wow....cool questions

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