New Rules to Cool Property Market

[Geylang OKT]

Agree. Kill the greedy down grader and promote the up grader.
But I now know very sure who will get my votes come election day.

Yeah me too. Kudos to Mr Mah Bow Tan and the PAP!!!. I will surely vote PAP again!

[mantrix]

Remove these private property owners buying resale HDBs means HDB flats prices will go nowhere for now! Good! These people then will just concentrate on private.

+1 - whole purpose of new measures is to allow singaporeans to own a home at reasonable prices. Idiots who take away those homes for speculation have to suffer now...

[Regulators]

their votes in percentage falling over the years no matter how they draw the boundaries.

they have another weapon ...

they will redraw the zone .. so that u no need to vote

[teddybear]

Good job MBT. Good job LHL. Return HDB flats to their original intention - i.e. cheap public housing for the masses. The wicked are those who own private properties and yet buy resale HDBs to speculate hence causing HDB flats going for almost $1m and COV > $30k (really over the limits)!

+1 - whole purpose of new measures is to allow singaporeans to own a home at reasonable prices. Idiots who take away those homes for speculation have to suffer now...

[coolview]

I think there will be some exceptions. But they probably have to agree to sell their HDB flat within X years after moving into the private property. But frankly, if your friend has to resort to 80% loan without any buffer, then don't buy. I've never bought a property with 80% loan.

From an investment standpoint, there's really no point holding on to an HDB "asset" that will almost certain grow slower than private property market - not forgetting it's 99LH with lease term running down slapped with an 5-years MOP for all future buyers. I think with these new rules, government has made it really clear that HDB is not an investment class. If you want capital appreciation with no restrictions, go to the private property market.

Resale HDB will almost certain fall. Your friend would have to fork out more money to upgrade to private now.

You see, it is not the case whereby they only have 20% as downpayment, just that in their younger days, whereby most seek to gain financial freedom, their savings were to pay off the HDB loan, not knowing that years later aspiration change, and their assets are trapped in the HDB.(I always tell my younger colleagues, not to be in a hurry to pay off HDB loans if they have the intention to upgrade in the future).The HDB flats are now worth about 600k with hdb loan of slightly more than 100k. So unless they sell the flats, they are unable to cash out. And remember we are talking about the average Joe, who may be an engineer or civil servant (non-scholar) from humble family background.

[proud owner]

Remove these private property owners buying resale HDBs means HDB flats prices will go nowhere for now! Good! These people then will just concentrate on private.

well provided these people have enuff cash .. cos they no longer can take 80 pct financing

the way i see it ..

there are many speculators in private condos as well .. who take 80 pct on every single property they purchase..

and if the base support ( HDB upgraders) is suppressed...the upward buying trend will slow down ..

i am not saying it will collapse ,,but see a prolong stagnation ... to slight down ...

[devilplate]

KNN.... MBT thinking with his butt. If this is a pre-election move, I think it is a blunder. With such a move, I definitely won't vote for PAP...

y ?

[ronyyk76]

...........I always tell my younger colleagues, not to be in a hurry to pay off HDB loans if they have the intention to upgrade in the future)..........And remember we are talking about the average Joe, who may be an engineer or civil servant (non-scholar) from humble family background.

Sir,

How to tell if/when you will be earning big buck and buy bigger house in later years?Or how sure, ones can expect/predict his career path? Maybe a fresh graduate needs factor in Daddy's Money in his financial plan, or maybe the possibility of wifey "Joint venture".

[jlrx]

The Government has taken up my idea about SSD!

I think Mah Bow Tan surfs this website and copied my idea!

http://forums.condosingapore.com/sho...55&postcount=2

However, their implementation is a bit mild. I had suggested:

30% for properties sold within 10 years;
20% for properties sold between 10 and 20 years;
10% for properties sold between 20 and 30 years;
Zero thereafter.

[Geylang OKT]

Evil speculators die pain pain

[ronyyk76]

y ?

Simple reason, as Mr. Regulator does not belong to the average/below average income earner of 1 000 000 singkees.

[Regulators]

who do u think the govt is trying to appease with their measures?

y ?

[devilplate]

well provided these people have enuff cash .. cos they no longer can take 80 pct financing

the way i see it ..

there are many speculators in private condos as well .. who take 80 pct on every single property they purchase..

and if the base support ( HDB upgraders) is suppressed...the upward buying trend will slow down ..

i am not saying it will collapse ,,but see a prolong stagnation ... to slight down ...

some say mass market condo affected the most....some say resale HDB...some say 1-3mil quantum(me)...and some say prime luxury will NOT be affected...BUT u guys din realise tat alot of firesales last yr which actually sold at a loss r mostly from high end projects....today saw a ad claiming seller selling at a loss of 500k(dunwan to name the project...u can flip and find it out urself)

to those who claim high end investors will be least affected r really living in self denial

[ronyyk76]

who do u think the govt is trying to appease with their measures?

Don't worry Mr. Regulator, garment will give the sweets to the group you belong, after the election. They knew the game and singkees too long already...

[devilplate]

who do u think the govt is trying to appease with their measures?

anything wrong with their measures? care to explain?

the only thing i can find fault which i find it unfair to existing pte ppty owners who wants to genuinely buy to stay in a HDB and rent out their condo instead: HDB shd revert back to the old policy whereby one must continue to stay in the HDB after they bot a pte ppty....

however, these r the minority....majority will be taking the standard path of buying a HDB first den buy pte ppty

[devilplate]

i had nvr enjoyed any privileges being a sporean at all!! be it HDB or landed and i am still serving Fxxx reservist....i belong to the MOST UNHAPPIEST LOT!

however, i always look at the big picture....i tink Mr Mah is GOOD....simply heck care developers and JUST DO IT!

these slew of measures also prove tat govt genuinely wana cool down the ppty market by releasing huge supply of GLS and NOT taking the opportunity to sell

MAN IS SELFISH AND GREEDY AND THAT EXPLAINS BOOM AND DOOM ECONOMIC CYCLE

[august]

The Government has taken up my idea about SSD!

I think Mah Bow Tan surfs this website and copied my idea!

http://forums.condosingapore.com/sho...55&postcount=2

However, their implementation is a bit mild. I had suggested:

30% for properties sold within 10 years;
20% for properties sold between 10 and 20 years;
10% for properties sold between 20 and 30 years;
Zero thereafter.

i suggested 5 yrs MOP, now it came true hahaha!

[proud owner]

i had nvr enjoyed any privileges being a sporean at all!! be it HDB or landed and i am still serving Fxxx reservist....i belong to the MOST UNHAPPIEST LOT!

however, i always look at the big picture....i tink Mr Mah is GOOD....simply heck care developers and JUST DO IT!

these slew of measures also prove tat govt genuinely wana cool down the ppty market by releasing huge supply of GLS and NOT taking the opportunity to sell

MAN IS SELFISH AND GREEDY AND THAT EXPLAINS BOOM AND DOOM ECONOMIC CYCLE

bro

many many moons ago .. in 2006/7 i already said ..

developers are govt's best friend ...

govt will NOT spend money to build nice building .. .

its the developers ..

they are in constant dialogue .. at least with the big players ..

developers wont lose money lah ... why u think they rushed to launch?
by now almost all sold at least 75 pct .. more than cover their cost (with profit) ..

its the small player developers who never kana invited to the high teas who are not in the loop will lose out lor ..

[devilplate]

bro

many many moons ago .. in 2006/7 i already said ..

developers are govt's best friend ...

govt will NOT spend money to build nice building .. .

its the developers ..

they are in constant dialogue .. at least with the big players ..

developers wont lose money lah ... why u think they rushed to launch?
by now almost all sold at least 75 pct .. more than cover their cost (with profit) ..

its the small player developers who never kana invited to the high teas who are not in the loop will lose out lor ..

wat makes u tink developers r rushing to launch for the past few mths bcoz they 'know' more cooling measures r coming???

it is very natural for developers to launch as many projects they have during boom times...especially u r toking about GLS 99lh land.....bro, u tink too much....

[proud owner]

wat makes u tink developers r rushing to launch for the past few mths bcoz they 'know' more cooling measures r coming???

it is very natural for developers to launch as many projects they have during boom times...especially u r toking about GLS 99lh land.....bro, u tink too much....

hahah

well up to you to believe ...or not

in the past they dont launch within a yr of acquiring the land ...thats evident enuff to tell they are in a hurry to offload

anyway .. u can choose not to believe

[devilplate]

so now SG ppty will be dead quiet?

high end still hopeless despite many analyst been toking up tat segment...
mass-mid end will be quiet for the next few mths as buyer/seller unsure what's next...
even our 'vibrant' hdb resale ppty will haf their brakes jammed...

2006/07, we tok about firesales in 2009/10 when all projects TOP as many bot at 90% loan and on deferred payment without securing bank loan...

no more deferred payment....developer create IAS....govt bey song also ban IAS and now goes back to NPS......
from 90% ltv since 2005 to 80% in feb 2010 and we r seeing 70% ltv now...only means one thing....HARDER TO FIND FREE FALL DURIANS IN FUTURE!!!!!

[bargain hunter]

so explains hoi hup's 30% over next highest bid at yishun last week hahahahaha.

bro

many many moons ago .. in 2006/7 i already said ..

developers are govt's best friend ...

govt will NOT spend money to build nice building .. .

its the developers ..

they are in constant dialogue .. at least with the big players ..

developers wont lose money lah ... why u think they rushed to launch?
by now almost all sold at least 75 pct .. more than cover their cost (with profit) ..

its the small player developers who never kana invited to the high teas who are not in the loop will lose out lor ..

[proud owner]

so explains hoi hup's 30% over next highest bid at yishun last week hahahahaha.

with a name like Hoi Hup .. chances are not invited to high teas ..

maybe they get invited to PSC .. provision supplies ... thinking they sell Dark Soy sauce

[devilplate]

hahah

well up to you to believe ...or not

in the past they dont launch within a yr of acquiring the land ...thats evident enuff to tell they are in a hurry to offload

anyway .. u can choose not to believe

in the past, i am still studying silly and useless piece of crappy toilet paper....i also dun understand y parents so anxious about enrolling their kids in top schools....alot of things i dun understand but to some it is so damn obvious and evident

[proud owner]

in the past, i am still studying silly and useless piece of crappy toilet paper....i also dun understand y parents so anxious about enrolling their kids in top schools....alot of things i dun understand but to some it is so damn obvious and evident

cannot say crappy toilet paper lah ...

at least now u still own several properties right ?


also toilet paper has many different quality ..some 2 ply, some 3 ply ..some got floral print ,

some can be used to wipe mouth ... hehehe

[Property_Owner]

Mark my words.

HDB prices and COV will not go down.

[devilplate]

Mark my words.

HDB prices and COV will not go down.

50% agreed ....HDB prices will be the last segment to come down BUT i believe COV will drop

[spyro]

with a name like Hoi Hup .. chances are not invited to high teas ..

maybe they get invited to PSC .. provision supplies ... thinking they sell Dark Soy sauce

LOL!!

Got a question to ask...
Let say i buy a property using solely wifey's name, cos i hv a existing loan, is she considered a first time buyer? Would bank give her the 80% loan?
She is not working n no property under her name.

[Regulators]

The supply will shrink becoz of long MOP and HDB owners who give up their flats after staying for 5 years will ask for even higher prices to compensate them for staying out the MOP.

Mark my words.

HDB prices and COV will not go down.

[proud owner]

LOL!!

Got a question to ask...
Let say i buy a property using solely wifey's name, cos i hv a existing loan, is she considered a first time buyer? Would bank give her the 80% loan?
She is not working n no property under her name.

with no income, i dont think she can get 80 pct financing.

unless the bank agrees to let you be her guarantor

i know of people whose retired parents bought properties in their name and have children as financier