New Cooling Measure?! - HDB loan and MSR

[thomastansb]

Drop also good. I waiting to buy a resale and rent it out long term. Hopefully MOP 1 year.

as pm lee said in the nd rally message

the parent want their hdb value to go up ... $1M would be best
the same parent want hdb to be affordable (aka cheap) for their children

[newbie11]

While we are trying to slow the mkt, uk is boring it. Signs of tides.

Read the full story at http://www.bloomberg.com/news/2013-0...g-in-u-k-.html

[dtrax]

[chestnut]

Date issued : 27 Sep 2012

*Today, HDB launched 7,055 flats for sale under the joint Build-to-Order (BTO) and Sale of Balance Flats (SBF) Exercises in both non-mature and mature towns. Including the 6,400 flats to be launched in Nov, the total BTO flat supply in 2012 would be 27,000 units, 2,000 units more than the 25,000 units originally planned for the year. The ramp up of HDB flat supply will further help to meet the housing demand, especially those from first-time home buyers. As demand for flats in mature estates is expected to be high, applicants are advised to apply for a BTO flat in the non-mature towns/estates for a higher chance in securing a unit.
http://www.hdb.gov.sg/fi10/fi10296p....257A860022A3F9

Based on above to figure out :

27k per year for hdb

2012 to 2030 - (expect 700 new homes)

27k x 18 years = 486 k new hdb....

So still short of 214k homes ????

[chestnut]

From 5.3mil people to 6.9 mil people - need 700k home....

So from 2000, we had 4 mil people till 2012 of 5.3 mil - 1.3 mil people more, if interpolate by above method, we would have needed 568k homes....

HAHAHAHAHAHAHAHA

Something wrong leh....

[mcmlxxvi]

In summary, what's in for each group:

1. Hdb owner investors

Owner will see value of their flat moderate. Investor will enjoy higher rental demand.

2. Hdb bto prospective buyers

You now enjoy better affordability.

3. Hdb resale citizen buyers

You may now enjoy better affordability as chunk of high paying PR buyers have been sidelined.

4. Hdb resale PR buyers

You can consider renting a hdb for the three years while waiting to buy resale. By then the prices would also have moderated a bit increasing affordability to you. If you earn enough, please look at resale condos instead. It will help cut out your rental costs.

5. PC owner investors

Owners may see slighty increased valuation of their units as better rental demand from the more loaded PRs supports more favorable market value. Investors may enjoy higher rental demand from PRs' increased rental demand. If you own a highly demanded project, you may even be hard pressed to raise rates to weed out some of the unwanted interest.

6. PC primary launches buyers

More interest from hdb sidelined PR buyers. Increased competition.

7. PC secondary market buyers

More interest from hdb sidelined PR buyers who prefer not to wait for BUC. Increased competitions.

8. Tenants

Your landlord may increase the renewal rent rate due to better demand.

9. Prospective tenants

You may face increased competition from hdb displaced PRs.

[henryhk]

Drop also good. I waiting to buy a resale and rent it out long term. Hopefully MOP 1 year.

Even resale price drop by 100k, so wat, it is just a number, hdb is a home, nobody will sell their precious home away.....sell already can't buy back!! Condo is different, buy and sell is allowed, just pay extra ABSD lor!! So I will not be bothered by resale price....and if ur hdb is beside the mrt! I tink u are bullet-proof....tose who have 2 to 3 properties, don't worry, garment gives u extra rental to service the loan, tru PRs pocket!

[chestnut]

So bottom line, Singaporeans WIN...

Hahahaha

In summary, what's in for each group:

1. Hdb owner investors

Owner will see value of their flat moderate. Investor will enjoy higher rental demand.

2. Hdb bto prospective buyers

You now enjoy better affordability.

3. Hdb resale citizen buyers

You may now enjoy better affordability as chunk of high paying PR buyers have been sidelined.

4. Hdb resale PR buyers

You can consider renting a hdb for the three years while waiting to buy resale. By then the prices would also have moderated a bit increasing affordability to you. If you earn enough, please look at resale condos instead. It will help cut out your rental costs.

5. PC owner investors

Owners may see slighty increased valuation of their units as better rental demand from the more loaded PRs supports more favorable market value. Investors may enjoy higher rental demand from PRs' increased rental demand. If you own a highly demanded project, you may even be hard pressed to raise rates to weed out some of the unwanted interest.

6. PC primary launches buyers

More interest from hdb sidelined PR buyers. Increased competition.

7. PC secondary market buyers

More interest from hdb sidelined PR buyers who prefer not to wait for BUC. Increased competitions.

8. Tenants

Your landlord may increase the renewal rent rate due to better demand.

9. Prospective tenants

You may face increased competition from hdb displaced PRs.

[invigorated]

From 5.3mil people to 6.9 mil people - need 700k home....

So from 2000, we had 4 mil people till 2012 of 5.3 mil - 1.3 mil people more, if interpolate by above method, we would have needed 568k homes....

HAHAHAHAHAHAHAHA

Something wrong leh....

not quite right to interpolate like that. needs of population changes with generations too depending on family size, whether more singles or families, whether they are 2,3,4,5 rooms etc. it only says 700000 homes, not specific to sizes.

govt said 700,000 homes, this covers both hdb and pte but ur projection is only based on hdb, no?

[chestnut]

not quite right to interpolate like that. needs of population changes with generations too depending on family size, whether more singles or families, whether they are 2,3,4,5 rooms etc. it only says 700000 homes, not specific to sizes.

govt said 700,000 homes, this covers both hdb and pte but ur projection is only based on hdb, no?

Then you include in your private estimate lor.... and figure if it makes sense...

[invigorated]

Then you include in your private estimate lor.... and figure if it makes sense...

haha my point wasn't about whether the stats make sense, rather that your interpretation doesn't make sense, cos u only use 27k times x number of hdb homes, without including the pte n EC.

the govt says it will produce 700k homes but it doesn't say there is a need of 700k homes. lets not forget that this 700k will be in 17 years time, the profile of people needing homes may well be very different and so will the houses.

[mermaid]

the message of our rulers to foreigners is:
quickly convert to citizen

& the moral behind the story for citizens is:
juz cont'd to buy as if there is no tomorrow

[invigorated]

the message of our rulers to foreigners is:
quickly convert to citizen

& the moral behind the story for citizens is:
juz cont'd to buy as if there is no tomorrow

why buy as if there's no tomorrow if the intention of the govt is to safely land hdb prices?

shouldn't we be buying knowing that there is a tomorrow?

we all know that there is a good and bad time to enter. with the govt seemingly resolute to bring prices down before the next election, is this a good time to buy? what happened to ccr buyers who bought as if no tomorrow? will the chapter unfold for ocr?

[chestnut]

haha my point wasn't about whether the stats make sense, rather that your interpretation doesn't make sense, cos u only use 27k times x number of hdb homes, without including the pte n EC.

the govt says it will produce 700k homes but it doesn't say there is a need of 700k homes. lets not forget that this 700k will be in 17 years time, the profile of people needing homes may well be very different and so will the houses.

Balance from EC and private lor.... So 700 - (27kx 17=459k) = 241K..

You just need to look at how many HDB will be built every year over the next few years and derive if we can reach the 700K houses.... Interpolate with the population increase and come to some conclusion lor...

That would be the basis... Hahahahaha

That would determine if over or under supply lor....

I just talking rubbish lar... But I know what I need to look out for lar...

[mermaid]

why buy as if there's no tomorrow if the intention of the govt is to safely land hdb prices?

shouldn't we be buying knowing that there is a tomorrow?

we all know that there is a good and bad time to enter. with the govt seemingly resolute to bring prices down before the next election, is this a good time to buy? what happened to ccr buyers who bought as if no tomorrow? will the chapter unfold for ocr?

I mean buying as if there is no more tomorrow to buy la

if they r unwilling to sell a land more cheaply, how much can the price go down without any major external shocks?

I hv no idea when is the best time to buy. Actually Im planning to buy in 2014 or even 2015. I suppose the price "shd" be better with too much supply?


but any time shd the market correct slightly (say 5-10%) I oso will chiong in


I dun tink I would wanna invest in CCR in the short run. Gone are the days where they hv reigned, I reckon tat the potential for upsize is limited.

[2824]

EC buyers who have upgraded and whose EC going to TOP will be badly hit, since they have to sell within 6 mths.

From my observation, most non-mature estate HDB resale are targeted by PRs. So possible double whammy!

[economist]

I think this is really a bad policy, by not allowing new PRs to buy HDB resale, it will make Singapore lose competitiveness.

What would new PRs do? cannot buy HDB resale, and if they buy condo, there is a 5% ABSD + 3% BSD. If they cannot find themselves a home in Singapore, will they settle down? Would the new comers even bother to apply for PR knowing that even PRs cannot buy HDB resale? Will more real foreign talents go to other cities instead? Will Singapore as a whole lose in the long term?

Has the policy makers thought about bigger pictures, rather than just being populist and trying to satisfy the xenophobics?

Now the rule of not allowing new PRs to buy resale HDBs has been made, the government should at least remove or reduce the ABSDs for PRs to buy their first condo!

Disappointed.

[jeaprp]

I think this is really a bad policy, by not allowing new PRs to buy HDB resale, it will make Singapore lose competitiveness.

What would new PRs do? cannot buy HDB resale, and if they buy condo, there is a 5% ABSD + 3% BSD. If they cannot find themselves a home in Singapore, will they settle down? Would the new comers even bother to apply for PR knowing that even PRs cannot buy HDB resale? Will more real foreign talents go to other cities instead? Will Singapore as a whole lose in the long term?

Has the policy makers thought about bigger pictures, rather than just being populist and trying to satisfy the xenophobics?

Now the rule of not allowing new PRs to buy resale HDBs has been made, the government should at least remove or reduce the ABSDs for PRs to buy their first condo!

Disappointed.

HDB should only be allowed to be sold to SG citizens.
It is a subsidized public housing, why should PR enjoy this subsidy???
Convert to citizen and get stuck here like the rest of us.
Huat ah

[mermaid]

HDB should only be allowed to be sold to SG citizens.
It is a subsidized public housing, why should PR enjoy this subsidy???
Convert to citizen and get stuck here like the rest of us.

I agree.
By allowing PRs to buy HDB even after 3 yrs is alrdy doing a great de-service to singaporeans.
PRs shd only be allowed to buy pte. If cannot afford, den rent.
Juz imagine pte owners de $ is gena robbed to go & help poor sinkies nvm, still nid to subsidize PRs!?!?! omg!

pte owners not running a charitable organisation leh

[jeaprp]

Those PR not converting to citizen and buying HDB are just
here to make a quick profit on our subsidized public housing.
Either thru rental or capital gain. Or both
3 years wait is too short to show commitment

[thomastansb]

I am equally disappointed and I share the same view as you.

But too bad, this is what Singaporeans want. Slower growth, no salary increment, low HDB value.

I think this is really a bad policy, by not allowing new PRs to buy HDB resale, it will make Singapore lose competitiveness.

What would new PRs do? cannot buy HDB resale, and if they buy condo, there is a 5% ABSD + 3% BSD. If they cannot find themselves a home in Singapore, will they settle down? Would the new comers even bother to apply for PR knowing that even PRs cannot buy HDB resale? Will more real foreign talents go to other cities instead? Will Singapore as a whole lose in the long term?

Has the policy makers thought about bigger pictures, rather than just being populist and trying to satisfy the xenophobics?

Now the rule of not allowing new PRs to buy resale HDBs has been made, the government should at least remove or reduce the ABSDs for PRs to buy their first condo!

Disappointed.

[thomastansb]

PR don't get subsidy. They buy resale from OM at OMV. They can't buy BTO.

Anyway, if resale prices drop a lot, good for people like us also. Buy a 3 bedroom and rent out forever.

HDB should only be allowed to be sold to SG citizens.
It is a subsidized public housing, why should PR enjoy this subsidy???
Convert to citizen and get stuck here like the rest of us.
Huat ah

[jeaprp]

PR don't get subsidy. They buy resale from OM at OMV. They can't buy BTO.

Anyway, if resale prices drop a lot, good for people like us also. Buy a 3 bedroom and rent out forever.

It is still public housing even if it is resale
Buy pte condo, that one is really OMV

If PR really commited, then convert citizen .
and grow or sink together with all of us.
Not profit u take n loses u pack up n go

[wirehtc]

PR don't get subsidy. They buy resale from OM at OMV. They can't buy BTO.

Anyway, if resale prices drop a lot, good for people like us also. Buy a 3 bedroom and rent out forever.

I believe there is some form of market subsidy, or else the rental yield will not be that good. New pte condo rental yield is miserable now but resale HDB is still good.

[economist]

I believe there is some form of market subsidy, or else the rental yield will not be that good. New pte condo rental yield is miserable now but resale HDB is still good.

Don't think there is a subsidy for HDB resale, it is the restrictions associated with HDB resale that makes it cheaper than private housing. Restrictions include MOP, rental rules, not able to sell to foreigners, etc.

[Rosy]

looks like MOP of 5years for subletting is not long enough. It used to be 10years MOP.
many still treat hdb as a rental investment.

[jeaprp]

Don't think there is a subsidy for HDB resale, it is the restrictions associated with HDB resale that makes it cheaper than private housing. Restrictions include MOP, rental rules, not able to sell to foreigners, etc.

That's why it is call a public housing

[Rosy]

I think this is really a bad policy, by not allowing new PRs to buy HDB resale, it will make Singapore lose competitiveness.

What would new PRs do? cannot buy HDB resale, and if they buy condo, there is a 5% ABSD + 3% BSD. If they cannot find themselves a home in Singapore, will they settle down? Would the new comers even bother to apply for PR knowing that even PRs cannot buy HDB resale? Will more real foreign talents go to other cities instead? Will Singapore as a whole lose in the long term?

Has the policy makers thought about bigger pictures, rather than just being populist and trying to satisfy the xenophobics?

Now the rule of not allowing new PRs to buy resale HDBs has been made, the government should at least remove or reduce the ABSDs for PRs to buy their first condo!

Disappointed.

over exaggerated

[chiaberry]

When I bought my resale HDB, the MOP was 10 years. After I owned it for 5+ years, they changed it to 5 years. They should perhaps change it back to 10 years.

[economist]

When I bought my resale HDB, the MOP was 10 years. After I owned it for 5+ years, they changed it to 5 years. They should perhaps change it back to 10 years.

Agreed, this sounds much much better than outright prohibition to buy.