Punggol East By-Election coming ? MP steps down

[3Boys]

Harlequin:

Long term financial goal:


TO BE THE MARGINALIZED SINGAPOREAN!

I've been marginalized for a long time oredi :evil:

[Harlequin]

3Boys:

Harlequin:

Long term financial goal:


TO BE THE MARGINALIZED SINGAPOREAN!

I've been marginalized for a long time oredi :evil:

But this morning, suddenly \"marginalized\" has a different and new meaning :evil:

[raysusan]

this set of photos of thank you parade is fantastic


http://www.facebook.com/media/set/?set=a.598931883456732.150847.149672065049385&type=1

http://sphotos-b.ak.fbcdn.net/hphotos-ak-ash4/484722_598937073456213_1183117091_n.jpg\">

[Strparent]

raysusan:

this set of photos of thank you parade is fantastic


http://www.facebook.com/media/set/?set=a.598931883456732.150847.149672065049385&type=1

thanks for sharing, great warm pics - tell 16,000 words

the MIW just dont get it , they still dont accept the real sentiments

[Funz]

JannettLee:

limlim:

[quote=\"Irrelevant\"]

So how many% of Singaporeans will be affected? If you do not wish to pay the ABSD, what will you do? You reckon foreign buyers are happy to pay 15%+3% stamp duty? Property speculators like yourself are precisely the target of these cooling measures and rightly so. Otherwise, when the property prices come crashing down, folks like yourself will KPKB and say that it's the government fault!

I hate the ABSD.. but at this moment I believe and trust the judgement of the govt.

It is better than kpkb when the bubble burst.. if it burst lah.. if not, then later kpkb abt the govt on the ABSD.. :evil: :evil:

See that is the problem with most people as they perceived that this is a bubble and they didn't know that it's a genuine demand! What do you expect the property demand when government allow almost 100K foreigners to come in every year now? Now you know why some people can be a property investor but some can't. You need to have foresight to make money :imcool:

Don't just take the face value of any policies!

As I said, these cooling measures are killing off all marginalized singaporean. Private property is going to be out of reach for most singaporean by looking at the trend.

It's none of my business la and just let people see from another angles... My offspring are well taken off anyway![/quote]The govt is trying to make sure that those who NEED a property can get it at a reasonable price. Those who WANT a 2nd/more property will have pay more. And rightfully so that only those who CAN afford a 2nd/more property without having to stretch their finances venture into such investments.

In my very simplistic mind, ABSD is govt's way for taking money from the rich and affluent and also foreigners. If some local bloke who cannot really afford it want to stretch his/her finances that is his/her perogative.

[Coolkidsrock2]

The ABSD and loan rules are temporary, imposed to cool the market and will be reviewed depending on market conditions. It is calibrated to bring a soft-landing.


Hong Kong had already imposed a 15% tax on all foreigners last October.

[wonderm]

3Boys:

Irrelevant:

[quote=\"JannettLee\"]The above ABSD appears to be policy designed to collect extra revenue, at the expense of local property owners, and in the process also benefiting foreigners. The ABSD policy will hit private property prices, where many Singaporeans hold either 1 HDB flat and 1 or more private properties, where more than 90% of Singaporeans own their properties. Given the draconian much lower Loan-to-valuation and loan tenure, many citizens may need to sell to foreigners (since many locals will be priced out), especially the high-end private properties where mostly only foreigners can afford, and foreigners will depress their offer price since they will deduct the ABSD amount from their offer price. So, isn't the ABSD cooling measures hit the local Singaporeans hard while benefiting the govt and foreigners?

Do you seriously believe all the spiel that you have written?

Your arguments are so flawed that I don't know where to begin and I shall only address a small portion.

According to some studies only 29% of Singaporeans own more than 1 property. http://sbr.com.sg/residential-property/news/nearly-3-in-10-singaporeans-own-more-one-house

So how many% of Singaporeans will be affected? If you do not wish to pay the ABSD, what will you do? You reckon foreign buyers are happy to pay 15%+3% stamp duty? Property speculators like yourself are precisely the target of these cooling measures and rightly so. Otherwise, when the property prices come crashing down, folks like yourself will KPKB and say that it's the government fault!

Haha! It's hilarious isn't it. 'Deduct absd from offer price' hahaha! The whole point is to drive down prices! Foreigner can 'deduct', but locals cannot izzit? If you are a property investor, looking to offload at a high price, this is a bad time for you, of course!

Yes, drive the speculators out. Prime example of people griping only about things that affect them directly, without considering the larger picture of what housing is about in Singapore and helping out the first time buyers.

My advice to Singaporeans looking to buy a second property? Stay clear of the market, and save your absd. Don't let the garment earn it, if according to Jannette, that was the whole intention.

Unbelievable![/quote]We should look at the numbers and what industry consultants say about this.

According to an article from BT, since the first round of ABSD, the % of private property buyers dropped to 6.3% in 2012 from 17.6% in 2011. With the higher ABSD rates recently announced, the property consultants expect foreigners' share of private home purchases to decline further in first half of this year.

Yes, life is not easy. Let's not make it feel harder by thinking that every govt policy is out to victimize local Singaporeans.

[Coolkidsrock2]

Based on a bank’s research report, the peak for foreigners was 30% in 2007. PRs purchases had been constant at 14% of new sales over the past few years.


Local Singaporeans account for the bulk of recent sales.

First-time buyers are spared of the recent controls but given the strong balance sheets and cashflows of the developers and the tight buffer due to high construction costs, it remains to be seen whether prices will be cut.

Looking at the sales volume at recent launches, it does not appear that the locals are priced out.

There will be professional property investors (local as well as foreign) who trade the market. To them, ABSD is just another cost and in so far as their view is that the future price will exceed the current price, they are indifferent to ABSD.

[pirate]

JannettLee:

See that is the problem with most people as they perceived that this is a bubble and they didn't know that it's a genuine demand! What do you expect the property demand when government allow almost 100K foreigners to come in every year now? Now you know why some people can be a property investor but some can't. You need to have foresight to make money :imcool:


Don't just take the face value of any policies!

As I said, these cooling measures are killing off all marginalized singaporean. Private property is going to be out of reach for most singaporean by looking at the trend.

It's none of my business la and just let people see from another angles... My offspring are well taken off anyway!

The foreigners are not coming in to buy in any numbers. The softest segment of the market is the upmarket segment in the central districts and district 15. The strongest demand is for developer sales in the suburbs. Why? Because one only needs to plonk down 20% and then wait for the developers to build. Most of the buyers don't even know what they are buying. Wait till they get their keys then they will know. :evil:

Private resale market of completed units is not particularly strong.

The market is now perceived as genuine demand when it is in fact a bubble. If it is genuine demand, the restrictions on financing for 2nd and subsequent properties will have no impact on the market.

Oh. And do you have any idea how many Singaporeans out there are able to plonk down cash on a 3rd, 4th or 5th property right now? Foresight is buying that investment property in 2009, not 2012.

But it's all cool. :imcool: Believe what you want. There is no shortage of investors who make a killing off marginal investors with no holding power.

[Coolkidsrock2]

Private resale market of completed units in D10 is even lower than the suburbs.


Lots of people waiting for the right levels.