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Thread: More property cooling measures incoming: Deutsche Bank

  1. #1
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    Default More property cooling measures incoming: Deutsche Bank

    http://sg.finance.yahoo.com/news/mor...225900153.html



    Singapore Business Review

    Singapore badly wants to subdue inflation.
    A new Deutsche Bank report explains that the Singapore government, keen on keeping inflation under control, will be eyeing even more property cooling measures, in conjunction with an unchanged monetary policy. But the bank signalled doubt at the impact of these measures because Singapore is still swayed heavily by macroeconomic winds in spite of forceful domestic policy efforts.
    Here's more from Deustche Bank:
    Singapore’s growth depends largely on external demand, which has been weak for a while, affecting exports and production, but the economy’s fundamentals remain strong, thanks to low interest rates supporting thriving domestic demand. If anything, some slowdown in growth is desirable as that could relieve some cost pressure on the economy.
    With this backdrop, we don’t expect the authorities to have much desire to support the economy. Interestingly, the thrust of policy measures lately has been in the opposite direction, with the Monetary Authority of Singapore (MAS) steepening the slope on the nominal effective exchange rate (NEER) appreciation last year and a series of macro prudential measures being put in place since 2010 to cool the property market.
    As long as interest rates remain at their floor and global liquidity abundant, there will be only limited traction from steps to cool the property market. As cost of financing remains cheap, money will find its way to the property market and associated activities.
    The curious characteristic of the Singaporean economy is that it is compelled to maintain a policy of exchange rate appreciation to fight tradable price inflation, which in turn brings in flows and keeps rates low, and consequently fuels non-tradable inflation (e.g. rent and transportation).
    The authorities have taken an array of measures to stem the latter, but the impact has been limited so far. We think the MAS will likely maintain an unchanged stance during its policy review later this month (as it would not want to cause a rise in inflation expectations through the tradable channel when non-tradable inflation is so high), and more property cooling measures could well be in the pipeline. But we are not convinced if this policy mix will bring about the desired result. Like it or not, Singapore’s fortunes will continue to remain tied to the vagaries of global macro-economy and developed country monetary policy for years to come.

  2. #2
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    only cm that will work is if you send those who buy 2nd 3rd 4th...etc property to changi prison...

    2nd - 2mth 3rd-3 mths 4th -4mths jail...

    In the final analysis.....its NOT whether you have a diploma,degree,masters OR PHD....its whether you have a HDB/PC/EC or LANDED...

  3. #3
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    Quote Originally Posted by radha08
    only cm that will work is if you send those who buy 2nd 3rd 4th...etc property to changi prison...

    2nd - 2mth 3rd-3 mths 4th -4mths jail...


    Ehhhh... Are you volunteering to do 2 month first?

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    Quote Originally Posted by radha08
    only cm that will work is if you send those who buy 2nd 3rd 4th...etc property to changi prison...

    2nd - 2mth 3rd-3 mths 4th -4mths jail...

    dun sabo leh,brother...

  5. #5
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    Quote Originally Posted by lifeline
    Ehhhh... Are you volunteering to do 2 month first?
    i already did 2 years...in the army...
    In the final analysis.....its NOT whether you have a diploma,degree,masters OR PHD....its whether you have a HDB/PC/EC or LANDED...

  6. #6
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    Quote Originally Posted by blackjack21trader
    dun sabo leh,brother...
    bludder i no $$$bullet to buy i no sabo...its those people who que and give blank cheque that sabo...
    In the final analysis.....its NOT whether you have a diploma,degree,masters OR PHD....its whether you have a HDB/PC/EC or LANDED...

  7. #7
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    Quote Originally Posted by radha08
    i already did 2 years...in the army...
    No wonder... so you are entitled to buy 24 units!

    Back to topic... deutsch says more cm may be coming; and yet says that it may not have an impact! typical analysis... so more cm means more revenue collected then. hope that this increased revenue comes back in more direct healthcare subsidies for the masses.

  8. #8
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    Pri school registration ah? Must do x number of hours of community service then entitled to buy 2nd property, LOL.

  9. #9
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    You are so lucky. I did 2.5 years and plus plus.
    Quote Originally Posted by radha08
    i already did 2 years...in the army...

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    Quote Originally Posted by DC33_2008
    You are so lucky. I did 2.5 years and plus plus.
    get specialist letter for downgrade lol, i alrdy C9L9. bye bye reservist and ippt

  11. #11
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    here are some ways to control inflation:

    1) Build more houses (which they are doing, so that's good)
    2) Subsidise for food essentials or remove GST for this category of goods
    3) Subsidise Public Transport
    4) Subsidise rental for basic food providers like hawkers
    5) Control child care fees. Standardise it into a structure with fixed fees like primary schools.

    this will go a long way towards curbing inflation.

  12. #12
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    I am slightly better where I when through medical got downgraded but not 99 type. Anyway, my reservist was quite switch off as they did recall me until quite late. That is why I only collected the $80 voucher only.
    Quote Originally Posted by jwong71
    get specialist letter for downgrade lol, i alrdy C9L9. bye bye reservist and ippt

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    I vote for Removing the mother of major cause of inflation of living costs in Singapore : GST !

    Quote Originally Posted by kane
    here are some ways to control inflation:

    1) Build more houses (which they are doing, so that's good)
    2) Subsidise for food essentials or remove GST for this category of goods
    3) Subsidise Public Transport
    4) Subsidise rental for basic food providers like hawkers
    5) Control child care fees. Standardise it into a structure with fixed fees like primary schools.

    this will go a long way towards curbing inflation.

  14. #14
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    If they really want to control inflation, they should just remove GST & rein the REITs!

    Quote Originally Posted by lifeline
    http://sg.finance.yahoo.com/news/mor...225900153.html



    Singapore Business Review

    Singapore badly wants to subdue inflation.
    A new Deutsche Bank report explains that the Singapore government, keen on keeping inflation under control, will be eyeing even more property cooling measures, in conjunction with an unchanged monetary policy. But the bank signalled doubt at the impact of these measures because Singapore is still swayed heavily by macroeconomic winds in spite of forceful domestic policy efforts.
    Here's more from Deustche Bank:
    Singapore’s growth depends largely on external demand, which has been weak for a while, affecting exports and production, but the economy’s fundamentals remain strong, thanks to low interest rates supporting thriving domestic demand. If anything, some slowdown in growth is desirable as that could relieve some cost pressure on the economy.
    With this backdrop, we don’t expect the authorities to have much desire to support the economy. Interestingly, the thrust of policy measures lately has been in the opposite direction, with the Monetary Authority of Singapore (MAS) steepening the slope on the nominal effective exchange rate (NEER) appreciation last year and a series of macro prudential measures being put in place since 2010 to cool the property market.
    As long as interest rates remain at their floor and global liquidity abundant, there will be only limited traction from steps to cool the property market. As cost of financing remains cheap, money will find its way to the property market and associated activities.
    The curious characteristic of the Singaporean economy is that it is compelled to maintain a policy of exchange rate appreciation to fight tradable price inflation, which in turn brings in flows and keeps rates low, and consequently fuels non-tradable inflation (e.g. rent and transportation).
    The authorities have taken an array of measures to stem the latter, but the impact has been limited so far. We think the MAS will likely maintain an unchanged stance during its policy review later this month (as it would not want to cause a rise in inflation expectations through the tradable channel when non-tradable inflation is so high), and more property cooling measures could well be in the pipeline. But we are not convinced if this policy mix will bring about the desired result. Like it or not, Singapore’s fortunes will continue to remain tied to the vagaries of global macro-economy and developed country monetary policy for years to come.

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    Quote Originally Posted by DC33_2008
    You are so lucky. I did 2.5 years and plus plus.
    Plus plus= DB?

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    Quote Originally Posted by DC33_2008
    You are so lucky. I did 2.5 years and plus plus.
    Mine less than 2 years. Phew! =P

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    Your are in different era.
    Quote Originally Posted by lbb
    Mine less than 2 years. Phew! =P

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    Quote Originally Posted by heehee
    I vote for Removing the mother of major cause of inflation of living costs in Singapore : GST !
    Kns pay rental commision to my agent must pay
    Gst also....sianzzzz
    In the final analysis.....its NOT whether you have a diploma,degree,masters OR PHD....its whether you have a HDB/PC/EC or LANDED...

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    Quote Originally Posted by heehee
    I vote for Removing the mother of major cause of inflation of living costs in Singapore : GST !
    I am afraid it is not quite the way you think. GST or consumption tax is one of the fairest way of wealth redistribution because the rich who consume more than the poor will pay more taxes.

    The nett effect of GST or consumption tax is that it does not add pressure to inflation. It is one form of government's revenue as compare with COE and high property prices (rental) which are the main contributors toward inflation.

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    Quote Originally Posted by Leeds
    I am afraid it is not quite the way you think. GST or consumption tax is one of the fairest way of wealth redistribution because the rich who consume more than the poor will pay more taxes.

    The nett effect of GST or consumption tax is that it does not add pressure to inflation. It is one form of government's revenue as compare with COE and high property prices (rental) which are the main contributors toward inflation.
    Most Singaporeans do not pay rent and lower income do not drive.

    GST has a greater impact on the poor. It is not just a simple 7% tax. It has a domino effect on essential goods.

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    Quote Originally Posted by Rosy
    Most Singaporeans do not pay rent and lower income do not drive.

    GST has a greater impact on the poor. It is not just a simple 7% tax. It has a domino effect on essential goods.
    The government introduced GST rebates for the poor. The nett effect was that the poor was not quite affected by the introduction of GST during the introduction stage.

    GST registered businesses are not affected by GST as it is a consumption tax. The collection of GST is a trade off for other taxes such as property tax, income tax etc etc etc. Such taxes are more likely to increase business costs and hence inflation.

    The nett effect of GST or consumption tax does not add pressure to inflation once it is implenemted and passed that stage.
    Last edited by Leeds; 13-04-13 at 18:41.

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    Quote Originally Posted by Leeds
    The government introduced GST rebates for the poor. The nett effect was that the poor was not quite affected by the introduction of GST during the introduction stage.

    GST registered businesses are not affected by GST as it is a consumption tax. The collection of GST is a trade off for other taxes such as property tax, income tax etc etc etc. Such taxes are more likely to increase business costs and hence inflation.

    The nett effect of GST or consumption tax does not add pressure to inflation once it is implenemted and passed that stage.
    Eat hawker then now GST lor!
    If you every meal eat Paradise, TungLok then of course have to pay GST.

    GST is good coz it spread the tax burden amongst more people, else property taxes will have to be hiked!

    DKSG

    DKSG

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    Quote Originally Posted by radha08
    Kns pay rental commision to my agent must pay
    Gst also....sianzzzz
    Aiya, since you are in the position of a landlord and you use the services. Then pay some GST. So that at least they can use our GST to subsidise the low income by perhaps waiving GST on basic food necessity.

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    Quote Originally Posted by kane
    Aiya, since you are in the position of a landlord and you use the services. Then pay some GST. So that at least they can use our GST to subsidise the low income by perhaps waiving GST on basic food necessity.
    Property investors quite poor thing one. Must pay so many taxes until you feel like you are single handedly supporting Singapore's GDP.

    When buying property pay Stamp Duty and now ABSD.
    Get keys already then have to pay Property Tax!

    Rental out property gotta pay GST on all sorts of things like furniture, agent's commission, blah, blah - whole long list!

    The each year they tax you in INCOME tax.

    Then now sell, still must pay agent's commission - GST!

    And then when u think u paid all things already - still must think need to pay SSD!

    Pay and Pay and Pay and Pay!

    I always think, earn one set of income need to tax me at EVERY SINGLE STEP?

    DKSG

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    As long as net you make money, paying some gst is good.. we are a special group of people who have the intelligence and perseverance, helping less successful people make everyone happier.

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    Quote Originally Posted by Allthepies
    As long as net you make money, paying some gst is good.. we are a special group of people who have the intelligence and perseverance, helping less successful people make everyone happier.
    very well said!

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    Quote Originally Posted by Allthepies
    As long as net you make money, paying some gst is good.. we are a special group of people who have the intelligence and perseverance, helping less successful people make everyone happier.
    I believe we have the intelligence to help the less fortunate.

    Office Boy has been using intelligent ways to help the less fortunate.

    How do we know the monies collected from Stamp Duties, ABSD, GST, Prop Tax, Income Tax, SSD goes to the poor ? And not to the guy who bought the subsidized HDB and now moved on to PC, rent out HDB and show off in ST ?
    I am very sure he did not use his lesser intelligence to help the less fortunate.

    DKSG

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    Don't think they helping the less fortunate with introducing GST and cut the top-tier income tax by 5% to 20% and abolishing their estate duty?

    Quote Originally Posted by DKSG
    I believe we have the intelligence to help the less fortunate.

    Office Boy has been using intelligent ways to help the less fortunate.

    How do we know the monies collected from Stamp Duties, ABSD, GST, Prop Tax, Income Tax, SSD goes to the poor ? And not to the guy who bought the subsidized HDB and now moved on to PC, rent out HDB and show off in ST ?
    I am very sure he did not use his lesser intelligence to help the less fortunate.

    DKSG

  29. #29
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    Quote Originally Posted by kane
    Aiya, since you are in the position of a landlord and you use the services. Then pay some GST. So that at least they can use our GST to subsidise the low income by perhaps waiving GST on basic food necessity.
    i got NO issue bro my agent waived the GST...he said he will pay it...

    but then again a few K he earned in a few minutes...why not
    In the final analysis.....its NOT whether you have a diploma,degree,masters OR PHD....its whether you have a HDB/PC/EC or LANDED...

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    Quote Originally Posted by radha08
    Kns pay rental commision to my agent must pay
    Gst also....sianzzzz
    Do the rental thing yourself, especially the renewals.

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