Property Views
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is this a greater demand but limited supply prob?
Is the rental market esp for renting out a hdb room going up? -
Singapore raises additional buyer's stamp duty, tightens HDB loan limit to cool property market
https://www.straitstimes.com/singapore/housing/singapore-raises-additional-buyers-stamp-duty-tightens-hdb-loan-limit-to-cool
extracted from the above:
From Thursday (Dec 16), the additional buyer’s stamp duty (ABSD) that must be paid for purchases of additional properties will be raised.
The ABSD rate will go up from 12 per cent to 17 per cent for citizens buying their second residential property, and from 15 per cent to 25 per cent for those buying their third and subsequent properties. -
It is the tightened TDSR that will hit ordinary Singaporeans more.
Guess I can’t sell my current place for much now…sian. -
zac's mum\" post_id=\"2051962\" time=\"1639616099\" user_id=\"53606:[quote=\"zac's mum\" post_id=2051962 time=1639616099 user_id=53606]
If you have a capable agent, you will achieve your goal ie target price.
It is the tightened TDSR that will hit ordinary Singaporeans more.
Guess I can’t sell my current place for much now…sian.[/quote]
I still think ppty prices will continue to rise due to demand more than supply. -
No time for ppl to react… almost immediate implementation. Wonder if last measure the same… Are these changes considered hard impact? I remember many many years ago the rules came out in rounds as in not all at one go?
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MrsKiasu\" post_id=\"2051969\" time=\"1639618824\" user_id=\"43981:
If I remember correctly, the last round at least got a few hours to react cos there were people rushing to issue option / exercise option within the last few hours?
No time for ppl to react.. almost immediate implementation. Wonder if last measure the same.. Are these changes considered hard impact? I remember many many years ago the rules came out in rounds as in not all at one go?
This time round, announced at 11.30pm, how many agents/sellers/buyers are awake and reading news at that time?? Half an hour really no chance to action anything. -
Work so late… last time covid numbers also came out before 12 mn.
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Copy & paste fm ST…
"6. Will refinancing of home loans be affected?
- Borrowers with existing property loans granted before Dec 16 will not be affected by the revised TDSR threshold when refinancing their loans.
- The TDSR also does not apply to refinancing of owner-occupied housing loans.
- The TDSR does apply to existing investment property loans, but borrowers affected by Covid-19 have been given a temporary TDSR waiver. Otherwise, the previous 60 per cent TDSR will apply."
On 3rd/last point… meaning if borrowers are currently on temporary TDSR waiver…later when resume the new 55% will apply? Whereas those without break will be impacted (only) during next refinancing exercise?
To add…hmm on 2nd read looks like only new TDSR applies when do refinancing for investment loans? -
starlight1968sg\" post_id=\"2051967\" time=\"1639616965\" user_id=\"14025:
If u scrutinize this announcement, the bulk of increase in ABSD is obviously to curb foreign snap up of our local properties & drive retention of available properties to meet local pent-up needs. The other area of tighten measures on TDSR & LTV is an attempt to discourage locals fr over-committing themselves & tie up with loan burden as the world situation is still in flux with impact of covid to businesses & economies everywhere.
If you have a capable agent, you will achieve your goal ie target price.
I still think ppty prices will continue to rise due to demand more than supply.
The demand will still be high for now due to lack of contractors/foreigner workers meeting development deadlines pushing buyers to seek existing devpts. I’m glad the VTL open btwn M’sia & Spore so as to enable more masonry, plumbers, painters, etc for building & renovation works.
Wonder besides newly weds, there are families looking to upgrade or look specifically for older devpts (albeit declining tenure) due to need for bigger space to conduct WFH/HBL or home business needs. We’ve seen many family ‘fighting’ for space to conduct zooming activities & space actually gives ppl healthier emotional breather IMO.
Zac’s mum, you shld still be able to mkt yr place with a decent profit for next 6 months at least, unless u’re looking to hit the pocket of a rich foreigner :evil: -
Thx Esteema. My place is huge and very suitable for big families or those wanting plenty of extra WFH space per room. Unfortunately not many can afford the quantum. They all love the space but now even fewer will be able to borrow enough from the bank. Few Singaporeans are cash-rich. No worries about declining tenure as it’s freehold.
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