EC penthouse sold for record S$2.05m

[3Boys]

limlim:

What will be impact of the cooling measures?


Will property price drop bcoz of drop in demand? Or will property prices not affected even thou there are less buyers bcoz there'll still be a large number of pple who can well afford?

The property measures definitely affect those who can barely afford..

But these pple are unlikely the ones who will cost the price to go up right..? hence my question on removing these group of pple will have impact on the price or not..

If you a first time buyer, these measures do not hit you too hard. It hits those who are trying to procure additional properties for investments.

People 'think' they can afford because interest rate are low. It is exactly this sandwich class that need to be discouraged from overextending in property in the vain hope of a quick buck.

These measures will cool prices (or at least dampen intake increase ).

Looking for a cloud in a silver lining are you? I suppose in limlim's world every gment policy is meant to disadvantage the masses........

So in your view have they gone too far, or not done enough? What else you would do to make life even more difficult for the well heeled?

[limlim]

I'm just try to learn something from KSP..


very limited in awareness on properties and policy impact. At this moment, I'm more interested to ask question.. not making judgements or comments.. :evil:

[Rational_Parent]

limlim:

What will be impact of the cooling measures?


Will property price drop bcoz of drop in demand? Or will property prices not affected even thou there are less buyers bcoz there'll still be a large number of pple who can well afford?

The property measures definitely affect those who can barely afford..

But these pple are unlikely the ones who will cost the price to go up right..? hence my question on removing these group of pple will have impact on the price or not..

It's not call cooling measures for nothing. These measures are meant to cool down the property market, and this means bring down the price.

This time around, all kinds of properties, be it commercial, private housing or public housing, are affected. That is why the Finance Minister was quick to come out to say that these measures were not meant to cause a property bust, and would act if it does. PRs and people who have invested in second or more properties should be the worst hit this time around. Of course this in turn will also affect both upgraders and downgraders who have to offload their homes in order to do so because the buying side of the equation is affected.

Property prices should hold at least because HDB is the main driver. So long as the current valuation of new HDB flat remains, the dip in prices in the near term of both private and public housing will not be too drastic imho. In the long term though, land scare Singapore properties should remain strong. Only economy crises on a global scale will cause prices to come crashing down, and that I think will happen between 2014 and 2015.

[raysusan]

http://theonlinecitizen.com/2013/01/property-cooling-or-political-heating-measures/#.UPEsbcdxWpA.facebook


interesting read

[arowana]

Rational_Parent:

limlim:

What will be impact of the cooling measures?

Only economy crises on a global scale will cause prices to come crashing down, and that I think will happen between 2014 and 2015.

Agree with the above except the date! US has shown sign of recovery now and it may take a while to fully boom and then crash. Most likely later than that.

[limlim]

Rational_Parent:

It's not call cooling measures for nothing. These measures are meant to cool down the property market, and this means bring down the price.

Will prices drop or just remain stable or rise slowly..? That's my question..

If the move is to raise the barrier for those who can barely afford.. then it will have limited impact on the prices right..?

[3Boys]

limlim:

Rational_Parent:

It's not call cooling measures for nothing. These measures are meant to cool down the property market, and this means bring down the price.

If the move is to raise the barrier for those who can barely afford..

Where on earth did you form this impression from?

Look at the policy announcement lah...

Impact on foreign buying, impact from 2nd property onwards...

To whom is this being targeted at? Obvious is it not?

It raises the bar right across the board. Or are you saying only the billionaires need to be targeted? Who are the people thronging the condo show rooms? Not the billionaires....

Property prices going up or down? Who knows? If someone has that crystal ball he don't need to go to work oredi.

But the policy measure is meant to put a damper on the market isn't it? Whether it just slows a rise in prices or causes a correction is anybody's guess.

[pirate]

3Boys:

To whom is this being targeted at? Obvious is it not?


It raises the bar right across the board.

It raises the bar right across the board, except for first-time homebuyers who are not thinking of overstretching themselves and potentially getting into trouble if interest rates should go up.

But if I were one of them, I would seriously reconsider whether it is absolutely necessary to buy NOW. The government has already told you there are 200,000 residential units in the pipeline. A 5% drop in price is... how many months/years of your salary? Don't say the MIW never warn you hor.

[limlim]

3Boys:

limlim:

[quote=\"Rational_Parent\"]It's not call cooling measures for nothing. These measures are meant to cool down the property market, and this means bring down the price.

If the move is to raise the barrier for those who can barely afford..

Where on earth did you form this impression from?

Look at the policy announcement lah...

Impact on foreign buying, impact from 2nd property onwards...

To whom is this being targeted at? Obvious is it not?

It raises the bar right across the board. Or are you saying only the billionaires need to be targeted? Who are the people thronging the condo show rooms? Not the billionaires....

Property prices going up or down? Who knows? If someone has that crystal ball he don't need to go to work oredi.

But the policy measure is meant to put a damper on the market isn't it? Whether it just slows a rise in prices or causes a correction is anybody's guess.[/quote]I meant.. those who can barely afford to buy property for pure investment only.. Those who are very rich is barely affected.

I'm aware the policies doesn't affect SG 1st time buyers much..

I never say the policy is good or not good.

I'm just curious on possible consequences on property markets and maybe property counters. No comments, no judgements.

[3Boys]

pirate:

3Boys:

To whom is this being targeted at? Obvious is it not?


It raises the bar right across the board.

It raises the bar right across the board, except for first-time homebuyers who are not thinking of overstretching themselves and potentially getting into trouble if interest rates should go up.

But if I were one of them, I would seriously reconsider whether it is absolutely necessary to buy NOW. The government has already told you there are 200,000 residential units in the pipeline. A 5% drop in price is... how many months/years of your salary? Don't say the MIW never warn you hor.

But S'poreans are unfortunately a desperate lot :siao: .

Those people lining up at the showroom before midnight to beat the policy implementation?

Sort of like queing to board a plane when you know there a good chance of a crash.