Property Views
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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 -
1) HDB (AV $8,000)
Owner stay - no change (From $0 to $0)
Rented out - 20% increase (From $800 to $960)
2) Mass Market Condo (AV < $30,000)
Owner stay - no change (From $880 to $880)
Rented out - 20% increase (From $3,000 to $3,600)
3) Landed House / High End Condo (AV < $70,000)
Owner stay - 82% increase (From $2,780 to $5,080)
Rented out - 69% increase (From $8,500 to $14,400)
4) GCB (AV < $100,000)
Owner stay - 121% increase (From $5,400 to $11,980)
Rented out - 80% increase (From $14,000 to $25,200)
5) Ultra GCBs (AV < $150,000)
Owner stay - 124% increase (From $12,500 to $27,980)
Rented out - 80% increase (From $24,000 to $43,200)
A range of properties held by the higher end middle class, this group will feel some impact, estimated increase of between 20% to 50% of their annual property tax for own stay. -
Thats why Lawrence Wong called it a wealth tax.
There will be an indirect cooling effect on the HDB upgraders who were planning to use the “sell 1, buy 2” strategy of getting 1 condo for own stay & the other for investment rental income. -
When interest rate goes up…more impact.
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zac's mum\" post_id=\"2059171\" time=\"1645252822\" user_id=\"53606:[quote=\"zac's mum\" post_id=2059171 time=1645252822 user_id=53606]
Many will still continue to upgrade and/or invest, as these taxes are not visible until later on. The pain comes later when the property taxes comes in. A hike in interest rate will be more effective in cooling the market.
Thats why Lawrence Wong called it a wealth tax.
There will be an indirect cooling effect on the HDB upgraders who were planning to use the “sell 1, buy 2” strategy of getting 1 condo for own stay & the other for investment rental income.[/quote]
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