not working can only take max 60% loan lah and mabe required to show few hundred Ks cash deposit if she do not haf any collateral...Originally Posted by spyro
dangerous to put wifey's name (sorry, i seen too many HK drama series)
Exalted
not working can only take max 60% loan lah and mabe required to show few hundred Ks cash deposit if she do not haf any collateral...
dangerous to put wifey's name (sorry, i seen too many HK drama series)
Senior
God has spoken
i think market will be very quiet for a long while ...
the longer it stays quiet, the more chance for COV to deminish
Senior
no need to go bank lah, just loan directly from Property_Owner, I think he can give you a better rate than any bank
not working can only take max 60% loan lah and mabe required to show few hundred Ks cash deposit if she do not haf any collateral...
dangerous to put wifey's name (sorry, i seen too many HK drama series)
Junior
In fact they will go up.
Anyone who doesn't believe can try and imagine what will happen if the Government implements my suggestion of SSD.
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.
Someone has already answered the question below.
Exalted
hmmm reminds me of the silly birdie tat lost so much at RWS....no need to go bank lah, just loan directly from Property_Owner, I think he can give you a better rate than any bank
tats y i mentioned: change 10mil chips and only donate 1mil!
i tend to lose all the chips i changed
Newbie
Have to chip in to this "wise insight"... words of wisdom
Let me try to tell u a story of 2 friends. 1 is call Gaff and the other 1 call Dees
Gaff and Dees - note the plural form of Dees
Dees have been growing and living in Singapore...
One day, Gaff came into power....
Gaff had a game plan... he talks to Dees...
Dees agreed to keep their relationship private.
Both had secret meetings...
Gaff talks only to Big Dees... small ones are ignored. Big Dess will take care of them or share to them if they want to.
Both agree to partner and sell the Singapore Dream to Singaporeans and the world. The common vision for Singapore.
The YOG games begin....
Some Dees come and go... but the Big Ones remains. Gaff invest in Dees through private vehicle... then Gaff make sure that Dees are successful... when Dess are very successful, the HDB folks are not happy and Gaff may lose its office. So it announces goodies for HDB folks before the elections..
They win....
After they win... Dees not happy with Gaff... Private property owners not happy
Gaff reversed the policy... 3 years later
HDB folks happy and Private property owners happy..
They win again
And the winners are Gaff and Dees.... Gaffs wins big (Gaff is the Casino).
Draw ur own insights.
Newbie
The rules mainly are all affecting demand side... on the cash portion. However, the rule that private property owners have to sell their private properties if they buy a resale HDB is another tool.
The effects of it is to make sure that
1. HDB pries will not be driven up by Pte Property Owner's high COV. It will come down, the COV part. It keeps price stable. But the reduced affordability will result in a small drop in demand and prices... still acceptable. up to 20% drop but should be 3 to 5% in my views.
2. Private property owners will not touch HDB and they can continue to play private... demand for HDB switched to Private. Private still ok... But the reduced affordability will result in a small drop in demand and prices... still acceptable... up to 20% drop but should be 3 to 5% in my views.
3. First time owners will go for HDB first... HDB will be for self stay... they save, pay off and then buy private. Anyway first time owners are not likely to be able to afford Private if not for their rich parents. The working class will be trapped into HDBs. The successful ones can invest in Private thereafter.
So you can see... HDB prices will be stable... Govt can increase the land supply to moderate their Prices.. new HDB's might be priced lower if goverment wants to make it so. But it is in the interest of everyone for HDB to remain stable or to go up marginally.
Private owners can still play in Private playground...
Govt maintains a healthy balance to make them both happy...
As always Govt controls the supply. Restrictions affecting demand side can be increase or decrease as necessary.. It' beautiful isn't it?
Just my 2 cent worth..
I see. Unless the private Owners who buy hdb take up a large %, I don't see how this will impact the hdb price. But for private, the measures reduce speculations.. This should slowdown transaction volume, especially in mass market developments... My opinion.
Global recession is coming....
Difficult to find fire-sales in future! But remember, Govt says they want sustainable property market appreciation, not to crash the property prices. That means they believe without these new measures they are afraid property prices will shoot up too fast and become unsustainable! Those still waiting to buy can kiss goodbye to their search for fire-sale, but one consolidation - the price rise will be slower for now (but for a more sustainable period => have to wait long long liao)!
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!!!!!
Newbie
Lookout for gradual moderation in the coming months:
http://forums.condosingapore.com/sho...postcount=2435
Emeritus Senior
Agree it's not about correcting the market - mainly slowly down the price increase
Newbie
once the IAS scheme kicks in, the chance of finding firesale already slim. anyone who is on IAS has to secure a bank loan so even with downturn, they can still hold on to the property unless they default payment. unlike deferred payment, the buyer only pay downpayment and betting on the price gain
Be Heard, not the Herd
As long as the economy is doing well, people have jobs and are confident of holding onto them, prices will not come down. Short term speculators have largely been weeded out with the removal of the IAS and one-year holding period for imposition of the SSD penalty. So, buyers are likely to be genuine ones. Consider the following possible scenarios:
1. There were many HDB sellers who sold their flats in recent months with high COV and are looking to buy a new home. Another HDB flat may be out of the question due to the 5-year MOP. So, they might now go for mass market condos; newly launched or TOP in 2011/2012.
2. "Downgrading" is no longer an option for Pte Pty owners. If they still want to invest, then mass market condos will be the next best option.
3. The 3-year holding period of the SSD will mean that buyers of new condos who exercise their OTP after 30 Aug will have to keep their units for at least 3 years until TOP maybe. This will effectively restrict the supply of resale condos in the next 3 years. Even if they decide to sell within this period, the price will most likely factor in the SSD penalty.
I think therefore, that the ones most likely to benefit from this (at least for the next 3 years), are those mass market condos that will TOP in 2011/2012, since demand might now shift towards them. The rental market might also pick up, since people cannot now buy a HDB to stay whilst waiting for their condos to complete. Previously, the 3-year timing was just right.
Senior
it doesn't matter how much you change, stay in the casino long enough and you lose all. Those who win must know when to exit, but most do not. You need the luck of a Leprechaun to beat a casino. I heard guys who have devices that can be clicked to help them calculate the probability of the numbers coming out in roulette by estimating the speed of the spinning roulette and the ball going round it. These guys have bluetooth connected to the devices and usually place bets on all the probable numbers, often quite accurate.
hmmm reminds me of the silly birdie tat lost so much at RWS....
tats y i mentioned: change 10mil chips and only donate 1mil!
i tend to lose all the chips i changed
东方
That's right. Gahmen earns more from SSD all around, plus owners will ask higher and higher to cover all the SSD. And people will STILL bite.
Deepsea
Agreed, my take will be near town COV will stay & even move up if resale supply shrinks & demand still there. Far flung places COV might ease a little for the time being.
MBT used the word 'overheating' no know whether he still wants it nice & warm. hee!
Newbie
Thank God I bought my pte ppty early this year.
How to cough out 30% downpayment when 20% already heir heir chuan
At least increase downpayment to 25% sounds reasonable to cool off market. 30% will definitely douse the upgraders' dream of owning a pte ppty while the political masters all live in pte ppty, of of them land somemore
All HDB upgraders affected by this rule should vent their frustrations at next GE
Newbie
With the new ruling, pte owner wanted to buy HDB definitely got killed.
Just wonder, the high COV for HDB is it really due to this group of pte buyers? Or is it PR in need of a house urgently r willing to pay high COV to secure their house?
Newbie
Slowly appreciate is unreal. Trying to artificially use rules to manipulate is not so easy. Property cycles in real life never slowly increase for prolong period of time. Will either surge, stagnate, correct or even crash. That's the fun of it.
Junior
you and your big mouth...ha ha ..joking no offence..
Junior
I think private palyground also becomes smaller now as 10% cash and also loan at 70% with SSD at 3 years kick in...
Junior
People will still bite as the word "upgrading" is very attractive to people in singapore....upgrade car upgrade house upgrade kids to good school if possible...it is a show of status...
Exalted
u r very right!
govt intervention to the free market can only temperorary supress the market forces....the main factor lies with the broader economy....if economies continue to grow, this measures will create a pent up demand again and results in a price surge later on....and new measures will have to kick in.....
BUT i remain my main point: impossible to time market oredi and much harder to grab free fall durians in next GSS(probably only hope for developer's GSS sale)
on the flip side: if broader economy crash in near term together with these cooling measures....the market will crash even more
Be Heard, not the Herd
Provided the parents are not staying with them in the HDB. The new rules apply to both owners and occupiers of the HDB flat, i.e. occupiers cannot own private properties too during the 5-year MOP.
Newbie
Are you sure about this, where is your source?
Newbie
agree. these measures will make HDB scarce and the price & COV will not drop
Exalted
anyway, its not so simple to buy under parent's name lah...
if buy under ur parent's name, ur wife will KPKB....so, u goto include in-laws as well....more ppl involve= more headache...haha
Newbie
Maybe he aimed to do that and asked HDB about it already?
Or worse! HDB reads about it on this forum and is going to implement this!??
Newbie
Hoho...20000 new HDB flats, DBSS + ECs...scarce? You do the math...
Exalted
remember...all these supply controls by the govt....if the current BTO falls short of 70% allotment, will govt so silly to push out more and more BTO????
govt can always adjust their supply.....but the problem with housing is: it takes 3yrs to build....there is always a imperfection in timing and also info(no live trading data unlike stocks)
so if we tok about the REAL huge supply of resale flats....it will be 3yrs construction+5yrs MOP=8yrs time
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