Punggol East By-Election coming ? MP steps down

[toddles]

Harlequin:

Wai, wai, wai, abang Toddles, I am the buyer of D'Leedon hor, not seller hor.. Also am not a property agent hor :heresmyfish:

Hiyah Harlequin, I am talking abt mrs savvy lah!!

[3Boys]

JannettLee:

Next, he has to ask himself why there are CM7 altogether! It's a genuine demand and none of the previous CMs had managed to curb and you still can see the restrictions have very little impact on the private property prices. To the point that you are giving a lot of discounts to rich foreigners now as most Singaporeans are no longer able to afford and and free up the demand to foreigners and foreigners can now pick up good deals. The ABSD is no longer material to them.

Discussion has gone cold, but anyway, for good measure.......

http://www.iproperty.com.sg/news/6306/Cooling-Measures-may-Force-Foreigners-to-Pack-up-and-Leave

Given the increase in the Additional Buyer’s Stamp Duty (ABSD) after the introduction of the seventh round of cooling measures, the number of foreigners purchasing private homes is likely to fall in the first half of this year, say industry insiders.

In 2012, only 6.3% of private home purchases were by foreigners without permanent residency, markedly lower than the 17.6% recorded in 2011, and the lowest since 2003.

Analysts believe the falling numbers in 2012 were due to the 10% ABSD enforced on non-PR foreigners in December 2011. With the ABSD increased to 15% this year, the number of transactions by foreigners is likely to see an even larger decrease to about 5% of the total.

The affected foreigners might choose to shift to the more affordable suburban areas, or the outside central region. This is a trend that has already taken root in 2012, and which is predicted to continue this year.

So much for \"The ABSD is no longer material to them.\"

[Dora1]

shine:

Hi, hi, I’m just an ordinary citizen who bought my 1st HDB and have stayed there ever since. Know nuts about property and investment. I welcome the recent cooling measures but at the same time, do find some sense about this JannettLee comment about people hogging HDB flats after they got the 2nd private property.


My elder brother had to return his HDB flat at a loss as he was unable to sell it off within 6 mths after he got his condo many years back. What was the reason for the change of policy where HDB dwellers are able to retain their flats even after they got a 2nd property? Is it to reduce cases of people selling at a loss like what happened to my brother, or to encourage people to venture into property investment if they have enough cash? Kindly share your views and knowledge. Thanks.

So that the HDB flat can be rented out to the FTs mah... if not the millions of FTs, where are they going to stay??
And SCs will be happy mah, money making leh, who won't like? Win-win situation!
The only losers are the young couples trying to get a new flat to stay because of the sky rocketing price.

[Moonsun55]

Why private drop HDB will drop? I don't understand & can't see any logic. can explain?

Given that it is the heartland condos that has gone up by much larger % vs those in traditional prime district, it seem to be HDB upgraders pushing up prices after seeing their HDB doubling & tripling in prices?

Strparent:

JannettLee:

Resale HDB flats transacting at $800k-900k, isn't this a bubble or genuine demand? A bubble in HDB property market right? Are we seeing real effective cooling measures being implemented for HDB property market? The answer is obviously no. So why no? they are sleeping? Trying to put out \"perceived\" fire in 20% private property market when in fact fire is ragging in the 80% HDB property market!
[quote=\"pirate\"]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.

Pirate already explained the current situation very clearly.

regarding your question on why no cooling measures for HDB and only on pte property ? Isn't it obvious ?

any cooling of pte property prices will naturally lead to cooling of HDB prices, its a dominos effect..... and it does not work both ways proportionally.[/quote]

[pirate]

Moonsun55:

Why private drop HDB will drop? I don't understand & can't see any logic. can explain?

If 1,300 sf HDB flat cost $500k and 1,300 sf private condo in the same area also cost $500k, which one will you buy?

[pirate]

shine:

Hi, hi, I’m just an ordinary citizen who bought my 1st HDB and have stayed there ever since. Know nuts about property and investment. I welcome the recent cooling measures but at the same time, do find some sense about this JannettLee comment about people hogging HDB flats after they got the 2nd private property.


My elder brother had to return his HDB flat at a loss as he was unable to sell it off within 6 mths after he got his condo many years back. What was the reason for the change of policy where HDB dwellers are able to retain their flats even after they got a 2nd property? Is it to reduce cases of people selling at a loss like what happened to my brother, or to encourage people to venture into property investment if they have enough cash? Kindly share your views and knowledge. Thanks.

This part of what she said actually makes sense. But I think the change was implemented at a time when the property market was weak.

So, don't be surprised if Cooling Measures 8 require existing HDB flat owners who buy a private property to sell their HDB flats within 6 months. And don't be surprised if CM9 requires existing HDB flat owners who also own private residential properties to sell either their HDB flats or private properties.

[Moonsun55]

I am afraid with the 6.9m population target, foreigners with long term view will view sg prop as cheap even with 15% ABSD? :nailbite:

That is bad bad bad! I am still looking for fire sale! Missed the boat for 2009 low. :slapshead:

Harlequin:

JannettLee:

I
Pirate already answered himself but just need to see the whole situation clearly . Next, he has to ask himself why there are CM7 altogether! It's a genuine demand and none of the previous CMs had managed to curb and you still can see the restrictions have very little impact on the private property prices. To the point that you are giving a lot of discounts to rich foreigners now as most Singaporeans are no longer able to afford and and free up the demand to foreigners and foreigners can now pick up good deals. The ABSD is no longer material to them.

Cannot compared to Hong Kong la, Hong Kong has 80% private property so they are addressing the correct market (80% market!). Whereas, Singapore is now addressing the 20% of the market, you think they can solve by addressing 20% market?

Free up the demand for foreigners, now they can pick up good deals?? You think foreign investors are a bunch of spongy-brains mei? Their portfolio is never looking at how to save $$ nor how much to save, they are looking for the potential growth, kill their hope for potential growth, their interest would be killed.

[pirate]

Moonsun55:

I am afraid with the 6.9m population target, foreigners with long term view will view sg prop as cheap even with 15% ABSD? :nailbite:

That is bad bad bad! I am still looking for fire sale! Missed the boat for 2009 low. :slapshead:

Here's another piece of old time investing gem. In the long term, we will all be dead.

[wonderm]

Moonsun55:

I am afraid with the 6.9m population target, foreigners with long term view will view sg prop as cheap even with 15% ABSD? :nailbite:

That is bad bad bad! I am still looking for fire sale! Missed the boat for 2009 low. :slapshead:

If you think such long term view is right, you can buy now and you pay less than these foreign buyers.
If you think such long term view is wrong, you can buy when there is fire sale in the future, maybe buy from these foolish foreign buyers.
Either way, you win!

[Dora1]

pirate:

shine:

Hi, hi, I’m just an ordinary citizen who bought my 1st HDB and have stayed there ever since. Know nuts about property and investment. I welcome the recent cooling measures but at the same time, do find some sense about this JannettLee comment about people hogging HDB flats after they got the 2nd private property.


My elder brother had to return his HDB flat at a loss as he was unable to sell it off within 6 mths after he got his condo many years back. What was the reason for the change of policy where HDB dwellers are able to retain their flats even after they got a 2nd property? Is it to reduce cases of people selling at a loss like what happened to my brother, or to encourage people to venture into property investment if they have enough cash? Kindly share your views and knowledge. Thanks.

This part of what she said actually makes sense. But I think the change was implemented at a time when the property market was weak.

So, don't be surprised if Cooling Measures 8 require existing HDB flat owners who buy a private property to sell their HDB flats within 6 months. And don't be surprised if CM9 requires existing HDB flat owners who also own private residential properties to sell either their HDB flats or private properties.

Nope will never happen. Then where are the FTs going to stay? Renting HDB is a cheap option for the FTs and money making option for SCs. Suddenly drying up the supply of rental HDBs will upset the whole property market. How to achieve the $7 million target if the FTs got no place to stay?