ouch .......Originally Posted by xebay11
ya, money attracts money
Junior
ouch .......
ya, money attracts money
Senior
you mean people pay $2000psf just to be in some kind of league? Are you saying that those who bought River Valley condos at $1200psf or pay $800psf for a good class bungalow in Binjai Park is not in the same league as some nut who pays $2000 for D1? League or no league is not about how much money you throw on a property. if you perceive spending $2000psf on a 99yr condo just becoz it is near IR as a wise move and being far-sighted, your mind could do with some widening...
Senior
by the way, read through the thread for The Sail and you will find owners criticising poor quality interiors and finishes which are nowhere close to luxury and befitting of the well-helled as you mentioned. So according to what you say about no compromises, would your so-called well-heeled people be compromising on poor interior? Go slap urself....
Junior
I am quite uncomfortable with developments with extremely high plot ratios, such as The Sail or Orchard Residences.
In case there is any structural problem due to natural or manmade disasters, there is very little value left because the land is so small.
I feel investors are getting the short end of the stick, wheares the government and developers are laughing all the way to the bank.
Newbie
n buy DBR,
Junior
dun be stupid. There's so many condos in s'pore. You mean those who dun buy MBR and DBR are losing out. Get a life! You must be those who paid 3k psf for MBR and just paid for a unit in DBR and trying to flip..
Newbie
Hi everyone this thread is abt ppty mkt sentiments! I think we are digressing.
Any views on the mkt sentiments?
Specifically do u see any impact from the upcoming ghost month?
Newbie
He is DBR poster king.dun be stupid. There's so many condos in s'pore. You mean those who dun buy MBR and DBR are losing out. Get a life! You must be those who paid 3k psf for MBR and just paid for a unit in DBR and trying to flip..
Must be having more trouble flipping than he thought. Probably believes in one man show to talk up the market for extreme end of Singapore condo.
Look at rentals for Dover Park view to get an idea of expected rental for the new university..... not stellar - will translate to poor yield and eventually collapse in price within a decade as it's 99yr lease.
Newbie
Look at today ads in the ST, so many units neither FIRE SALES or ON AUCTION in places like dist. 9 and 10.
Many units start to reduce their asking price. Sellers start to realise that no buyer want to buy at the price they asking for and also many condo had already TOP.
Comes ghost month, I guess it will be worst.
Resale units are so much cheaper then the new launches.
Buyers are not stupid now. but sorry fir those that bought it at high priced condo.
Newbie
Just checked rental for Q2 is down 10% against Q1, which was lower than Q4.. Not sure how Q3 is like but wont be surprise if it's declining as there are several large projects "TOPing"...
Fundamental is wrong, if rental down, ppty should be down, correction coming!!
Esp.. come Jan 2010, potential to be tax for capital gain, seller should be offloading more desperately in the coming mths.
Newbie
where you heard that "Esp.. come Jan 2010, potential to be tax for capital gain, seller should be offloading more desperately in the coming mths".
Don't bluff ppl like this. For upside buy condo in east fast especially near singapore uni.................................
Junior
if rentals continue to slide, which at this point seems likely to, there wont be any need for govt interventions.
Newbie
capital gain tax hv been in the news for weeks if not mths. U out of the country?
Newbie
you are clearly very mis-informed my friend.
Newbie
wat happen?
Newbie
I believe it was for IRAS to assume those who frequently transact property to be property dealers. Profits would then be seen as income & taxed as income.
Has been around for some time but not really enforced. Articles I have read on this indicate Jan 2010 is when it will be followed up more.
The smart people are exiting as quick as they can prior to this date. I would only buy now if the seller is desperate & I can squeeze the price....... very possible.
Junior
Below is the official statement from the Inland Revenue Authority of Singapore:
No tightening of Income Tax policy for property transactions
The Ministry of Finance wishes to clarify that the proposed change in the Income Tax public consultation document involves no tightening of the current income tax policy for individuals who sell their properties.
The only change proposed involves a relaxation of income tax treatment aimed at giving certainty of non-taxation to individuals who do not sell properties frequently. This has been in response to public feedback over the years as under existing practice, such certainty of non-taxation has not been provided.
The proposed change is therefore not an anti-speculation measure. It does not mean that individuals who have sold more than one property within a four year period will automatically be subject to income tax. There is no change to the current and long-standing income tax treatment in this regard. Whether individuals who sell properties more frequently are subject to income tax depends on the facts and circumstances of each case. IRAS has in the past brought to tax a small number of individuals -- who regularly transact in property, and whose gain from the disposals is assessed to be income.
Singapore does not have a capital gains tax, unlike many countries. Its income tax rules are merely aimed at taxing persons who make an income out of their property transactions. This income tax policy is common among tax authorities internationally, and our local practices are not unique.
There is no requirement that individuals must report to IRAS for income tax purpose every time they sell their properties – this will also continue to apply going forward. IRAS has always conducted its own audits of property transactions for possible cases of assessable income.
The only change being proposed in the Income Tax (Amendment) Bill 2009 is to provide certainty of non-taxation for individual owners who do not sell properties frequently. Specifically, when individuals sell their properties, they will be certain that the gains made from selling their properties will not be subject to income tax if they have not sold any properties in the preceding four years. The lack of certainty in the current rules presently for individuals who sell their properties had led to public feedback for more clarity of income tax treatment. In response to such public feedback, Ministry of Finance is proposing this improvement, as part of its regular review of the Income Tax Act.
More details of the Income Tax public consultation can be found here.
MINISTRY OF FINANCE
09 July 2009
Senior
Do u think the PM speech this evening is hinting on some more financial problems ahead? As in a W shaped recovery, we are in the middle of that w now....going down soon?
Junior
Do u think the PM speech this evening is hinting on some more financial problems ahead? As in a W shaped recovery, we are in the middle of that w now....going down soon?
don't care lah, V or W or WW end of day property is about holding power
can hold means u are ok
New Launch Project Specialist
Those who complained here and there are just wannabes, there are many well heeled rich who can just throw millions without blinking, so to them a few hundred thousand or even millions to them is mere pittance. OHL just lost a billion and he may be suffering some heart ache but don't bet on him being financially bankrupt yet.
If you argruments hold true, why do the rich jet set spend $$$$ on private jets and hundreds of thousands just to maintain them, including aircrew when you can fly first class anyday on any airline, why do they also do the same for private yatchs, almost the size of a small luxury liner? They are looking at value for money? I think you should go slap yourself.
Newbie
I Don't think s'pore property to drop much. Very gd upside is near singapore 4th uni n project called DBR. buy now whatever left.
Senior
i am not sure if i am representing the majority of fellow forumers but i find your constant posts on DBR very irritating as I read it on all threads and multiple times and in many forms per thread. I surrender. I will go and buy up all the remaining units in DBR ok? You can stop advertising already.
Senior
I think no one really knows where we actually go from here, whether V or W. PM just wants Singaporeans to be alert to the possibility of a W (He has been holding this stance for quite awhile already, not the first time he mentioned this).
Do u think the PM speech this evening is hinting on some more financial problems ahead? As in a W shaped recovery, we are in the middle of that w now....going down soon?
Newbie
I am not sure who else agrees that you are representing them but for sure, you represented me Boss.
Junior
The question is how low the 2nd leg down in that W. Shanghai is in for a serious correction already.
Senior
You may like to highlight that in the candlestick chart, the GREEN bars are open high, close lower days right? I remembered china convention like different from ours. Maybe because red means good luck. Hee, I am so used to green bars being good news.
I guess in PM's case, he would not be referring to the stock market, more for economy. Stocks definitely we see whipsaws and W shapes are normal but it would be a greater concern if economy goes in W,that's when stocks turn ugly over a longer period of time.
Junior
Whether MBR, Sail, MBS is worth it or not, let the market decide.
In the meantime, welcome to our neighbourhood:
http://www.youtube.com/watch?v=QRY7IYpLN8s
Newbie
Hi all ... can buy this combination for 4D lor ... 2767 (sold in the month of July) ...... lol
Senior
woohoo....peak liao...highest number of units ever sold in a month!
Junior
No need to think. Those are worth it! Accumulate on weakness.
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