Our policy makers had came up with numerous cooling measures to slow down the escalation of our pte ppty prices. Volume has indeed dropped "decently" while prices moderated "slightly".
However, ppty prices is still very high as compared to current income levels. Do you feel that every of the measures that has been implemented so far is effective in lowering our ppty prices to a more reasonable & affordable level and prevent speculations?
Personally, I feel that :-
1.CPF shd not be allowed to be used for 2nd or subsequent ppty.
2. Only can loan up till 50% for 2nd ppty, 25% for 3rd ppty & no loans for 4th & subsequent ppty.
3. ABSD shd be removed as seller will definitely pass this extra cost to the subsequent buyers; hence it causes prices to increase at a rate higher than wat it shd be.
4. SSD can be restructured in the following way to discourage flipping and prevent big volume of ppty being supplied into the market after the lock-in period has been fullfilled.
- Sell within 1 yr à 15% SSD payable.
- Sell within 2 yrs à 10% SSD payable.
- Sell within 2.5 yrs à 3% SSD payable.
- Sell within 3 yrs à 2% SSD payable.
- Sell within 3.5 yrs à 1% SSD payable.
-Sell upon TOP à no SSD.
5. Using % of one’s pay can be very misleading in ascertaining how much one can borrow. A person earning only $3k with a loan of 1.8k (60% TDSR) is in a much risky position than another one earning $10k wif a loan of $7k (70% TDSR). Hence I feel tat TDSR limit shd be staggered in the following way:
- Annual salary of below 45k à TDSR of 50%.
- Annual salary of 45k to below 60k à TDSR of 55%.
- Annual salary of 60k to below 75k à TDSR of 60%.
- Annual salary of 75k to below 90k à TDSR of 65%.
- Annual salary of 90k & above à TDSR of 70%.
The above r some of my humble suggestions Welcome discussion from forummers. Wat gd suggestions do u have?