Property Views
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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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Estéema\" post_id=\"2051987\" time=\"1639624869\" user_id=\"66413:
:idea: hmmm.... business idea. If you have room n your house, convert it into an office for rent by the hour during the day.
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.
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:
Think it will be illegal for hdb dwellers though.
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Funz\" post_id=\"2052015\" time=\"1639641430\" user_id=\"6230:
Think there’re some restriction for such short-term Bz operation is I’m not mistaken. Rmbr some pte landed owners operate under Airbnb & neighbors complain strangers frequently change & disrupt the sense of safety ard their neigbourhood? So it be sms illegal unless min occupancy of 3/6 mths (can’t rmbr exactly).
:idea: hmmm.... business idea. If you have room n your house, convert it into an office for rent by the hour during the day. Think it will be illegal for hdb dwellers though.
HDB worse & more restrictive. Can register with Town Council under HDB ruling but don’t think they permit short-term visitors or tourists. . Think they ICA needs to track where everybody goes & visitors & tourists need to be channeled to hotel, motels, etc. Students register with dormitories or stay in HDB (still registered under Town Council). So long as they’ve student pass, WP, SP or EP can HDB rooms be rented to these group.
If u’re thinking of short-term hourly rentals, think authorities only permit under Bz licence and in designated zones, but not private residential areas. As for home renting for office use, think also restrictions esp now covid period. Think they allow small bz operations but max 2 pax operating other then fr same household going in/out to retain the safety & sanity of mainly residential use purpose. Not sure if I wld ever like to see families with young kids & common corridor every other units hv 1-2 pax of strangers walking in our every other hour. What do u think?
Just let the experts check accuraof my memory of things. -
I wouldn’t know.
But considering that tutors are able to conduct tuition out of their own homes and there are services like facials, hairdressing and even mani and pedi being carried out from the home as well, maybe can be done on a small scale? -
Funz\" post_id=\"2052021\" time=\"1639645522\" user_id=\"6230:
No idea leh. Doing our own small bz fr home & renting out to 3rd party is very different & it’ll fall on our responsibility to the authorities leh coz Pte homes are meant for residential also, unless for some I know are dual usage zoning like residential/commercial or commercial/residential then I do see some light. Only not sure how hourly rental works out for these 2 zoning.
I wouldn't know.
But considering that tutors are able to conduct tuition out of their own homes and there are services like facials, hairdressing and even mani and pedi being carried out from the home as well, maybe can be done on a small scale? -
Estéema\" post_id=\"2052017\" time=\"1639644049\" user_id=\"66413:
HDB for business purpose, there are 2 schemes
Think there’re some restriction for such short-term Bz operation is I’m not mistaken. Rmbr some pte landed owners operate under Airbnb & neighbors complain strangers frequently change & disrupt the sense of safety ard their neigbourhood? So it be sms illegal unless min occupancy of 3/6 mths (can’t rmbr exactly).
HDB worse & more restrictive. Can register with Town Council under HDB ruling but don’t think they permit short-term visitors or tourists. . Think they ICA needs to track where everybody goes & visitors & tourists need to be channeled to hotel, motels, etc. Students register with dormitories or stay in HDB (still registered under Town Council). So long as they’ve student pass, WP, SP or EP can HDB rooms be rented to these group.
If u’re thinking of short-term hourly rentals, think authorities only permit under Bz licence and in designated zones, but not private residential areas. As for home renting for office use, think also restrictions esp now covid period. Think they allow small bz operations but max 2 pax operating other then fr same household going in/out to retain the safety & sanity of mainly residential use purpose. Not sure if I wld ever like to see families with young kids & common corridor every other units hv 1-2 pax of strangers walking in our every other hour. What do u think?
Just let the experts check accuraof my memory of things.
1. Home office scheme
2. Home based Business scheme
More details are available from HDB website
https://www.hdb.gov.sg/residential/living-in-an-hdb-flat/home-business -
Related to the latest property taxes for self-stay and non self-stay (18 Feb 2022)
https://www.mof.gov.sg/docs/librariesprovider3/budget2022/download/pdf/annexc2.pdf
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