Property Views
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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] -
MrsKiasu\" post_id=\"2059172\" time=\"1645252967\" user_id=\"43981:
Ya, buying property must consider affordability in times when interest increase back to norm . Now is really low time for last few yrs.
When interest rate goes up..more impact. -
MyPillow\" post_id=\"2059182\" time=\"1645260952\" user_id=\"70594:
I read somewhere that int rate will increase.. But most of the years we been enjoying low rate so that already is \"savings\".
Ya, buying property must consider affordability in times when interest increase back to norm . Now is really low time for last few yrs. -
Is inflation going up? If yes, then properties are still the best hedge against inflation! Inflation up in 2021, rental also went up the whole of last year (and still climbing).
After my last tenant moved out, I rented out my investment unit at 11% higher to the next tenant!! Now that I am to give back $192 more in property tax only from next year onwards, still worth it. Not to mention about capital appreciation (bought in 2017).
Regarding bank interest rate, as long as the interest rate is below HDB’s 2.6% p.a. no reason to find it expensive. Petrol up, GST up, your bowl of rice/noodle is expected to go up too. If one buys a property today and looks back 3 years later, he will still find it cheaper.
Unless one prefers to put money in FD or have other investment plans, if not, I think property is still Singaporeans’ first love.
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