Property Views
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SSD prevents flipping; ABSD deters buying investment units in the first place (especially for couples who started out in HDB flats and can no longer decouple).
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SSD 3 yrs …count from when bought from developer, even before the construction ? If yes, no wonder sometimes read new launch selling like hot cakes.
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MrsKiasu\" post_id=\"2115843\" time=\"1691459657\" user_id=\"43981:
Yes it is.
SSD 3 yrs ..count from when bought from developer, even before the construction ? If yes, no wonder sometimes read new launch selling like hot cakes.
Those who bought into the large 99 year newbuild (mega) developments in 2021 and before are generally sitting on very strong gains. -
If really count the 3yrs fm signing with developers…SSD will not work on this category right? And may cause the new launch prices higher and higher? From TOP is more reasonable.
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MrsKiasu\" post_id=\"2115845\" time=\"1691460329\" user_id=\"43981:
I don't see it as a big issue. This is why ABSD and SSD to me, go hand in hand. Because it is counted from the date you exercise option, you will have to pay ABSD if you are staying in your current property and buying a newbuild waiting for it to complete. It cuts both ways. If count from TOP, lots of people will be buying without thinking much as they would not have to pay ABSD when they book unit.
If really count the 3yrs fm signing with developers..SSD will not work on this category right? And may cause the new launch prices higher and higher? From TOP is more reasonable. -
If SSD count from TOP and ABSD goes the same, hand in hand, will there be any diff?
For someone willing to pay ABSD, so go buy new launch. For one scenario, upon completion, likely 3yrs or near 3yrs, sell the new unit no need pay SSD but paid ABSD and considered that part of purchase cost of new unit. If mkt is at uptrend, can earn profit.
If SSD count fm TOP, then buyer will need to wait for 3yrs before selling. It may deter some people who just want to flip coz need to hold for a longer period? When holding period is longer say in total abt 6years, the mkt outlook may not be as clear anymore? -
doodbug\" post_id=\"2115850\" time=\"1691460751\" user_id=\"13281:
Nowadays nobody will fork up extra for ABSD.
I don't see it as a big issue. This is why ABSD and SSD to me, go hand in hand. Because it is counted from the date you exercise option, you will have to pay ABSD if you are staying in your current property and buying a newbuild waiting for it to complete. It cuts both ways. If count from TOP, lots of people will be buying without thinking much as they would not have to pay ABSD when they book unit.
For private ppty owners, all go for decoupling. For HDB owners, sell and rent a place for the interim.
There’s an article in May 2022 which mentioned that new launches like Piccadilly Grand, the project sold 77% units sold on launch day, and 317 buyers are ALL 1st time buyers!
Reserve Residences at Bukit Timah, also like hardly anyone paid the ABSD. Not that these launches were affordable, just that the buyers were likely property owners who decoupled even for own stay later on. -
MrsKiasu\" post_id=\"2115859\" time=\"1691465441\" user_id=\"43981:
You have a valid point there. I thought of it some time ago and was discussing with DH that one way to prevent buyers flocking to commit new launches at sky high prices, is to set the SSD counting down from the day buyers collect their keys/TOP instead of when exercising the OTP.
If SSD count fm TOP, then buyer will need to wait for 3yrs before selling. It may deter some people who just want to flip coz need to hold for a longer period? When holding period is longer say in total abt 6years, the mkt outlook may not be as clear anymore?
When buyers collect keys to their new HDB BTO, the 5yrs MOP is based on when they collect the unit’s keys and not when exercising OTP right? So HDB will take around 3-4 years to build and then another 5yrs MOP before owners can sell their flats. So why private property owners’ SSD of new launches is computed from the day they exercise OTP and not the day they collect keys?
Double standard. Penalize the poor folks buying BTOs.
Back then we were looking to buy Irwell Residences, a new project that’s why I didn’t post here lah. Milestone payment for new launches plus 3yrs of construction, so by the time I collect key to the unit, I can sell for a profit already. I suppose this is one reason why resale market is not moving much, all flocking to buy new launches despite their sky high prices -
Is there a concept of OTP for BTO? I don’t think so. There are couples who break up, forfeit BTOs etc after booking. Stamp duty is on the concept of ownership, not occupation.
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May not be answering the qn directly…HDB has MOP, means need to occupy a min period after collection of keys.
TOP also collection of keys…so if SSD count from day you sign with developer, the 3yrs period may be only waiting time for the construction to complete and don’t even need to occupy or even treat it as investment eg to rent to out. If can sell straight away then we can call it flipping for profit already? Not sure how many ppl do that and of course some ppl have their own circumstances.
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