Time to tweak property curbs: CDL chief Kwek Leng Beng

[teddybear]

Oh, now I know that min wage for cleaners you have disguised it as "progressive wage"?

So, how is it progressive when the businesses will need to pay $1k per month minimum wage to cleaners anyway?

Please get your fact right:
Min wage for cleaners are implemented by Singapore govt, not me!
Now you telling Singapore GOVERNMENT that
"UR MIN WAGE DONT WORK! HAI LANG more like it.!" "

that is not min wage. its progressive wage. u need to skill up to get to do more. ur dumb min wage is a 1 size fit all. no need improve skills also must pay 2K per mth.

u trying to bluff who?

So like that say the pang kopi aunty who suddenly see bay happy pay become $2000 but next day her boss tell her go back lar kopi coz the stall cannot afford to pay her $2000 pm. Then this aunty how?

Many are part time house wifes who need some income to supplement their household. Min wage don't give them $. they straight away no job. and at the same time overall cost goes up. the aunty better off?

UR MIN WAGE DONT WORK! HAI LANG more like it.!



Next u will be screaming Dole Dole Dole! must have Dole!

If you want to cow-pay cow-bull, please take it out with the Government and not me! I didn't implement min wages for cleaners and security guards! It is the govt! Soon they will implement min wages for retail staffs as well!

Since you are the one saying introducing min wages will result in chicken rice raising to $10, please raise your issue with the govt!

But I doubt you dare to raise with the govt, because you are just No Action Talk Only with no balls in front of the authority and only dare to cpcb and attack other forumers here!

[minority]

Oh, now I know that min wage for cleaners you have disguised it as "progressive wage"?

So, how is it progressive when the businesses will need to pay $1k per month minimum wage to cleaners anyway?

Please get your fact right:
Min wage for cleaners are implemented by Singapore govt, not me!
Now you telling Singapore GOVERNMENT that
"UR MIN WAGE DONT WORK! HAI LANG more like it.!" "

Well if u cannot understand what is explained by the fact that cleaners are operating machines and skilling up. there are so much i can explain to a intellectually challenged.

ITS NOT MIN WAGE. if u cannot tell the diff then too bad. Do I care ?

[thomastansb]

That would be good. HDB should drop 30 to 50%.

the recent ban SPR for 3y ruling + lower quantum of 25y + TDSR has big impact for those who wanting to sell DBSS @ Tampines

DBSS = Expensive HDB reality suddenly sinks in

Watch out for HDB resale, can be down 10% in a year

[RCT]

We must agree the CM are taking it hit now.. Slowly the demand is drying up (I know there are a lot of ready buyer with no ready cash to buy or is unable to get loan. I don't classified them as demand)

[chiaberry]

OK. People can go concentrate on their jobs and other investments instead of dreaming to get rich quick on property.

[Ringo33]

OK. People can go concentrate on their jobs and other investments instead of dreaming to get rich quick on property.

With all these cooling measures, people just have to go back to traditional way of generating wealth.

For those who have already accumulated a few properties to collect rental, just be contented and enjoy a carefree retirement life. Those who have not, just buy the cheapest home and then work hard in your career to save up.

Having said that, I do think the government should remove some CMs is selective area to promote some investment activities or else, many agents will become taxi drivers, construction industry will stop paying bonus, banks and law firms might even start retrenching staffs.

[oops]

Buyers should not be expecting capital appreciation when buying property now..

[phantom_opera]

if CDL or CAPL share price continues to weaken then

"Houston we have a problem"

[Rosy]

With all these cooling measures, people just have to go back to traditional way of generating wealth.

For those who have already accumulated a few properties to collect rental, just be contented and enjoy a carefree retirement life. Those who have not, just buy the cheapest home and then work hard in your career to save up.

Having said that, I do think the government should remove some CMs is selective area to promote some investment activities or else, many agents will become taxi drivers, construction industry will stop paying bonus, banks and law firms might even start retrenching staffs.

The problem is developers are still bidding aggressively for GLS.

[Rosy]

if CDL or CAPL share price continues to weaken then

"Houston we have a problem"

Ocbc looks attractive now too.

[Rosy]

OK. People can go concentrate on their jobs and other investments instead of dreaming to get rich quick on property.

Since the implementation of 4years ssd and 60%ltv, i doubt there are still speculators hoping to make quick bucks.

And there is nothing wrong to dream of retiring with few investment properties for passive income. When there is a dream, there is a will.

[chiaberry]

The problem is developers are still bidding aggressively for GLS.

Then it's a grave they are digging for themselves. Don't lobby the Govt to reduce or remove the cooling measures. Just bid realistically for GLS. It is in part the developers to blame for driving prices upwards.

[Rosy]

Then it's a grave they are digging for themselves. Don't lobby the Govt to reduce or remove the cooling measures. Just bid realistically for GLS. It is in part the developers to blame for driving prices upwards.

Yes, so i do not expect govt to tweak any CM in near future until there is a significant drop of interest in GLS bidding.

[eng81157]

Then it's a grave they are digging for themselves. Don't lobby the Govt to reduce or remove the cooling measures. Just bid realistically for GLS. It is in part the developers to blame for driving prices upwards.

takes two hands to clap. when the developers bid at a realistic price that's a tad low, the government refuses to sell the land parcel. that fateful act sent a wrong signal to developers.

[minority]

With all these cooling measures, people just have to go back to traditional way of generating wealth.

For those who have already accumulated a few properties to collect rental, just be contented and enjoy a carefree retirement life. Those who have not, just buy the cheapest home and then work hard in your career to save up.

Having said that, I do think the government should remove some CMs is selective area to promote some investment activities or else, many agents will become taxi drivers, construction industry will stop paying bonus, banks and law firms might even start retrenching staffs.

cannot care free lah. those who never accumulated all green eye. want the whole system to reset for their favor.

[oops]

Developer is just like normal bizman. Expect govt to save them when bankrupt? Quiet when making profit?

[oops]

Car industry already got the impact from govt measure and close shop.

[chiaberry]

takes two hands to clap. when the developers bid at a realistic price that's a tad low, the government refuses to sell the land parcel. that fateful act sent a wrong signal to developers.

Too bad. The developers also have to send a signal back to govt. not to be so greedy.

[Ringo33]

The problem is developers are still bidding aggressively for GLS.

Developers dont really have a choice, as their core business is selling property. If they dont bid and sell, how are they going to pay for their staffs salary?

If government is going charge you the air you breath, you cant just stop breathing right?

[Amber Woods]

takes two hands to clap. when the developers bid at a realistic price that's a tad low, the government refuses to sell the land parcel. that fateful act sent a wrong signal to developers.

The government's reserve price is reasonable low if the past bidding exercises suggest. Past biddings for RESIDENTIAL lands had shown that the final prices bided were some 40% to 60% higher than reserved prices.

There was only a case of a piece of COMMERCIAL land at Paya Lebar which the government rejected the highest bid because it was below its reserved. Obviously, developers under-estimated the future potential of Paya Lebar regional centre than or they were just simply "opportunist bids" during uncertain times.

[eng81157]

The government's reserve price is reasonable low if the past bidding exercises suggest. Past biddings for RESIDENTIAL lands had shown that the final prices bided were some 40% to 60% higher than reserved prices.

There was only a case of a piece of COMMERCIAL land at Paya Lebar which the government rejected the highest bid because it was below its reserved. Obviously, developers under-estimated the future potential of Paya Lebar regional centre than or they were just simply "opportunist bids" during uncertain times.

that's the event, which in my personal opinion, sent a wrong signal to the industry. if bids are rejected because they are deemed "opportunistic", then i liken it to "having a cake in your hand and eating it at the same time"

it's freaking crazy for URA to imply that only (ever) increasing bids are considered "realistic"

[Amber Woods]

that's the event, which in my personal opinion, sent a wrong signal to the industry. if bids are rejected because they are deemed "opportunistic", then i liken it to "having a cake in your hand and eating it at the same time"

it's freaking crazy for URA to imply that only (ever) increasing bids are considered "realistic"

I bet to differ. If the reserve price is already low in the first place, developer with good foresight and courage should buy and not try putting in unrealistic low bids. In this particular case, I think the developers actually "miss the boat" and cry foul later when their bids were rejected.

[eng81157]

I bet to differ. If the reserve price is already low in the first place, developer with good foresight and courage should buy and not try putting in unrealistic low bids. In this particular case, I think the developers actually "miss the boat" and cry foul later when their bids were rejected.

sorry but the reserve price isn't transparent - there is no benchmark except market valuation to be used. similary, a developer with good foresight may also factor in future price weakenings into its bid. that's i state it's pure madness when URA considers (ever) increasing bids as realistic. can't future prices be lower than current standards?

[Amber Woods]

sorry but the reserve price isn't transparent - there is no benchmark except market valuation to be used. similary, a developer with good foresight may also factor in future price weakenings into its bid. that's i state it's pure madness when URA considers (ever) increasing bids as realistic. can't future prices be lower than current standards?

We need to understand that URA operates an open tender system. There is nothing to stop any developers from putting in unrealistic low bids in the tender system.

So during a time when the market turns sour, the tender still needs to go on. If developers are fearful of the future, they could either not participate in the tender or "tikam" and put in very low bids. Even if their low bids were accepted, they are still safe with the purchase. This is where URA could not stop such "opportunist bids" in a public tender. Therefore, the reserve price system works in this case.

There were past instances when URA awarded tenders even when prices were below its reserve price. According to URA, they decided to award the tenders to the highest bidders even though their prices were below reserve price because their bids were "serious and realistic". Yes. there is certain amount of judgement call here and URA chief valuer is tasked to make the call.

There is no 100% full proof system but I think URA was right not to award tender if the prices are consider "tikam" prices. This is to safe guard our national interest.

[eng81157]

We need to understand that URA operates an open tender system. There is nothing to stop any developers from putting in unrealistic low bids in the tender system.

So during a time when the market turns sour, the tender still needs to go on. If developers are fearful of the future, they could either not participate in the tender or "tikam" and put in very low bids. Even if their low bids were accepted, they are still safe with the purchase. This is where URA could not stop such "opportunist bids" in a public tender. Therefore, the reserve price system works in this case.

There were past instances when URA awarded tenders even when prices were below its reserve price. According to URA, they decided to award the tenders to the highest bidders even though their prices were below reserve price because their bids were "serious and realistic". Yes. there is certain amount of judgement call here and URA chief valuer is tasked to make the call.

There is no 100% full proof system but I think URA was right not to award tender if the prices are consider "tikam" prices. This is to safe guard our national interest.

i'm not debating the mechanics of the tender system. i am pointing out it isn't just the developers pushing up land prices. and by your latest post, thanks for reinforcing my point that the government is partly responsible too.

[Amber Woods]

i'm not debating the mechanics of the tender system. i am pointing out it isn't just the developers pushing up land prices. and by your latest post, thanks for reinforcing my point that the government is partly responsible too.

The URA as an organ of the government is responsible for the integrity of the tender system. A responsible government will also "intervene" the market if the market is not working efficiently as in the case discussed and also the real estate market which is the most inefficient of all markets. That is my point.

[teddybear]

Cleaners operate very advance machines that we only have now? Why they can't skill up to learn to operate those same some old machinery after so many years? Why need to wait till min wage for cleaners implemented then suddenly they can learn to operate these old machinery?

If you can't explain, don't! Don't tell all those lies!

And, you don't even have balls to admit that you are complaining about the govt's min wages for cleaners after saying:
"UR MIN WAGE DONT WORK! HAI LANG more like it.!
"

Ok ok, min wages for cleaners you like to call it "progressive wage", but that is really little difference, just like I call you a DONKEY but you said No, you are a MULE! Ok ok, mule has DONKEY blood and is usually importent, suit you too!

Well if u cannot understand what is explained by the fact that cleaners are operating machines and skilling up. there are so much i can explain to a intellectually challenged.

ITS NOT MIN WAGE. if u cannot tell the diff then too bad. Do I care ?

that is not min wage. its progressive wage. u need to skill up to get to do more. ur dumb min wage is a 1 size fit all. no need improve skills also must pay 2K per mth.

u trying to bluff who?

So like that say the pang kopi aunty who suddenly see bay happy pay become $2000 but next day her boss tell her go back lar kopi coz the stall cannot afford to pay her $2000 pm. Then this aunty how?

Many are part time house wifes who need some income to supplement their household. Min wage don't give them $. they straight away no job. and at the same time overall cost goes up. the aunty better off?

UR MIN WAGE DONT WORK! HAI LANG more like it.!



Next u will be screaming Dole Dole Dole! must have Dole!