Newbie
Reflex action bro...everyone's trying to focus on the silver lining and trying not to be scared shitless by the possibility of getting screwed by all these new measures..hoho....
The truth is lurking round the corner...it seems all will be affected...
Originally Posted by stalingrad
Newbie
Foreign workers can stay in company housing foreign student can stay on campus. I think it is unfair to let people use their HDB flat to "make money" buy renting it out, afterall HDB is suppose to be for those that need a house to stay not for greedy people. Hope government do something about this.xiao ar..than where those so called" foreign talent" from low end countries stay? ask them to buy resale hdb or private condo?? i dont think it is possible unless work for few years...and some just go for renting eg foreign students...garmen want to import foreign talents so housing is one issue unless you want garmen to push all resale HDB price now too...
Junior
Relax. 80% confirmed. Your banker should have already told you.
I sell Cheese Pie
why some people simply donch understand from 30th August 2010?
Junior
The influx of PRs came down over the last 24 months after Singaporean aired their discomfort.
In my view, the adjustment of the HDB price will be stable depending on which estate we refers.
HDB resale price no longer can fetch high COV for 30 Aug announcement.
Right now HDB resale will cater to those buying for home stay. So transaction will be low. Price shall maintain with low/No COV.
Once government accepted more PR applications after the election, HDB resale transaction will move again. It is usually for those estate that has got cheaper resale transaction or estate that these PRs are familiar with.
I believe those HDB in Woodlands/Sembawang/Yishun estate will have marginally increase whereas those in Bishan will stabilize since the resale price has been driven up over the last 18 months by those private property investor with high COV.
Newbie
And if any of them die without a will....... intestate will kick in. You will then find out if you or wife have greedy siblings. Especially nice for them as they don't have name on mortgage - all equity , no debt riskanyway, 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
Wah Lau! Idea siah...time to convince my rich siblings to buy property under my parents name!
And if any of them die without a will....... intestate will kick in. You will then find out if you or wife have greedy siblings. Especially nice for them as they don't have name on mortgage - all equity , no debt risk
Junior
Dont worry government will do something about it if the percentage of those owning hdb flats and staying in private is increasing or significant..but seems that this is not the case...it has been shut off by this drastic measures liao....Foreign workers can stay in company housing foreign student can stay on campus. I think it is unfair to let people use their HDB flat to "make money" buy renting it out, afterall HDB is suppose to be for those that need a house to stay not for greedy people. Hope government do something about this.
I sell Cheese Pie
Give it another 6 months and then I think the pty market will be down to more sustainable levels
Newbie
You are very safe. You may find ur ans in this link
http://www.hdb.gov.sg/fi10/fi10325p....s?OpenDocument
Exalted
u will be wrong....if everything stays status quo (barring any unforeseen global black swan event), 6mths later, pent up demand is created and will lead to a price surge (just in line with next yr bonuses)Give it another 6 months and then I think the pty market will be down to more sustainable levels
i wud expect some kneel jerk reaction in the near term (next 6mths)....5% discount likely...i am sure some urgent sellers will lower down their asking prices from today....happy hunting
for HDB: expect lower COV from today!
as for me: i hope to sniff out gd deals for 2mil landed
Newbie
Even Albert Einstein will not able to understand how?
Junior
wow lke that those who have not profit taking now sure regret big time..Give it another 6 months and then I think the pty market will be down to more sustainable levels
Newbie
I saw one last week...but got house share wall on right, and house share wall on left...that type you want?as for me: i hope to sniff out gd deals for 2mil landed
Junior
Such demand side measures should come long time ago. But I hope our government stop the supply tap - imagine tighten demand and keep releasing land, market may really crash come 2012
Deepsea
i doubt so leh, this 10% really got such big impact? 5% buy & hold so impact little, the other 5% buy & sell. Question is sell to who? Investor sell to another investor, can't be right? 1st investor must make a tidy sum before it's worth the hassle after deduct expenses. So i doubt this 5% flipper make such a big impact, it's rather the 95% buyers that are making this run up prices.
95% are who? (100%-5% that buy to hold)
-Current HDB owners shifting location (up or downgrade)
-Downgraders from Pte/Enbloc (might have been classified as 'Pte buy & hold' 5% above)
-New couples can't wait 2.5~3.0yrs BTO
-immigrants (1 in 3 now)
Which is the biggest group here that needed immediate housing? If it happens to be (3), will MND say this? Knowing Sporeans sure KPKB & GE coming. Must remember our doors are still open.
Suddenly i feel like taking mrt during rush hour & try to spot how many are not 'locals' to have a feel.
Don'tshoot me pls, i just offering another view, i might be wrong
Anyway on the positive note it's good that Garment shut the door for pte to buy hdb, this should stop the complainers speculating & blaming pte ppty owners driving up hdb prices. Let's see PO wise words are right. DP says it will cause pent up demand for ppty, prices will chiong further.
Junior
it's the elephant in the room ~i doubt so leh, this 10% really got such big impact? 5% buy & hold so impact little, the other 5% buy & sell. Question is sell to who? Investor sell to another investor, can't be right? 1st investor must make a tidy sum before it's worth the hassle after deduct expenses. So i doubt this 5% flipper make such a big impact, it's rather the 95% buyers that are making this run up prices.
95% are who? (100%-5% that buy to hold)
-Current HDB owners shifting location (up or downgrade)
-Downgraders from Pte/Enbloc (might have been classified as 'Pte buy & hold' 5% above)
-New couples can't wait 2.5~3.0yrs BTO
-immigrants (1 in 3 now)
Which is the biggest group here that needed immediate housing? If it happens to be (3), will MND say this? Knowing Sporeans sure KPKB & GE coming. Must remember our doors are still open.
Suddenly i feel like taking mrt during rush hour & try to spot how many are not 'locals' to have a feel.
Don't
Exalted
The West r struggling to revive their housing slumps...
on the other hand, asia r worried about housing bubbles
asia decoupling story again??
97-2005 asia financial crisis while the west r enjoying their life
07-2020 western subprime crisis while asia.....
Junior
That's right. Look at the two graphs below.
While Singapore's housing market collapsed in 1996/97, the US housing market continued to go up, even during the dot com bubble bust and September 11. That's not fair, given that the dot com bust was THEIR bubble and Osama flew the aeroplane into New York and not Singapore.
US Housing Price Index
Singapore Housing Price Index
Anyway, from the Singapore price index graph, the 4 times the market went down, it was because of external factors and not government intervention.
Senior
before 30aug every was so clear and certain ..the other way is UPwhy some people simply donch understand from 30th August 2010?
on and after 30 aug .. everything is certainly unclear
n why are prople afraid of 80 or 70 pct?
unless 20 pct is all they have
Senior
i am not sure how powerful these 5-10 pct have been
but we must not underestimate the power of propaganda ..
remmeber we used to see only "NEW HIGH" ever single tues and fridays ?
remember we used to read about Crowds/ blannk cheques in the papers ?
one sided reports like these have an impact of buyers and sellers ..
i almost got into endless and unnecessary arguments with some forumers on these ..
i only wanted to warn people not to read too much into these , but to do one's own research .. and kana branded as i trying to stop people from making money , or instilling fear of collapse
anyway i gave up ..cos at that time people only wanted to hear the good things
i am not saying now it will collapse .. but when things becomes extreme ..we should know and must know that something will be done to bring it back to manageable equilibrium
Newbie
when we read about those developer Q result, they are making hundred of millions, we know they have been making tidy sum on the margin of their units.
It is time for them to sell at at "fair value" market price ...
I sell Cheese Pie
Makes absolute sense
Without totally vexing the bulls... one has to take a cold hard look at the changed picture. It is a no brainer to know that sentiment will be very badly hit by the latest measures. 2 distinct categories (hdb and pte) has been clearly delineated, and never the twain shall meet.
You got one existing loan, you need to cough up 30% instead of 20%. For a 1 million property, that is another S$100,000. Not peanuts for the average joe. Plus now you need 3 years to avoid the SSD. And you need to sell your private property to buy a non subsidised hdb flat, and if you already have bought hdb, you need a mop of 5 years to see it through. Translated, there is no incentive to push property and profit from it for quite a long time. Investment demand for mass market and mid tier condos and the hdb segment are thrown out of the window, and rightly so at such red hot ludicrous prices. Owner occupation is the focus here.
Only the mega rich in the luxury apts may not have such constraints, then again... why would they want to pay top dollar when they know the rest of the property segment is not doing well? Rich folks are the most penny pinching blokes
Senior
Sentiment Pressure Valve has been released on Monday. Takes a while to regain.
Newbie
My take is that the current measures will not cause prices to fall. Most developers and home owners can hold and won't sell cheap as they can service their low interest loan instalments.
The result could be 95% potential 2nd property buyer and investors will put off their plan. There will be a long standoff with very few transactions. This will definitely affect Property agents, housing loan bankers and conveyancy lawyers most and they could end up "beating mosquitoes" and "eating grass" for the next 6-9 months.
Price will likely fall and desperate sellers emerge only if there is an increase of mortgage rates to above 3%
Last edited by calvenng; 01-09-10 at 10:40.
Junior
this may sound like a stupid question.
If the cash down payment is raised to 10% from 5%, and loan is reduced from 80% to 70%, then who is going to pay the remaining 20% (100%-10%-70%)?
I have never borrowed from banks for property purchases. so, this thing baffles me?
Newbie
Your CPF if they have enough to cover the 20%. If no CPF then all 30% cash.
Junior
Okay, the good old CPF. Now it makes sense. thanks.
Junior
Junior
u will be very surprised to find this is indeed the case.
many Singaporeans' (ok not you or teddy or devil rich fellows, but average joes on the street) condo dream constitutes of this:
1) buy direct HDB from gov
2) save 2yrs enough cash/cpf for the 20% of a mass market condo (depending on how "rich" you are, either a 2bd, or 3bd, or PH)
3) buy with the 20% min
4) sell the HDB, pocket the 100k min profit ("citizen's bonus"), and this 100k goes into the new condo then, reducing the loan to <70%.
condo dream achieved. and with a small loan too.
better still in 3), buy at new launch, so have time to save. never mind new launch is more ex. since got more time to save.
So now, with the 70% rule, I believe many many upgraders are affected. You have to save longer now.
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