Property Views
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Lilac66:
yesterday, while watching an interview with Nicholas Mak on Channel 8 news, I was shocked when he mentioned that he feels the mkt could still go up by about 10%. Is this possible, I mean it seems illogical at least at this pt in time... :?
I am shocked too.... I was hoping to hear the opposite. :!: -
verykiasu2010:
I think it isn't very fair to let HDB owners buy private property but private property owners cannot buy HDB flats. If HDB owners can buy private properties to rent out, it means they are very rich and should not even be taking up a HDB flat. The HDB rule is that the HDB flat must be the residential address anyway so why can't a private property owner buy a flat to live in and rent out his current private property?
worse are those living in HDB now while holding investment ppty (pte ppty)- if want to move house, must sell 1st before buying another one, and once the existing hdb is sold, straight away kena classified as private ppty owner and if were to buy back hdb (at another location for eg) then must also sell the private one within 6 months ......then must stay in hdb another 5 years before can touch private ppty.....double whammy....
that means those living in hdb while holding private ppty for rental income cannot change / move house !!! absurd -
I think it's amazing that subsidised hdb owners MOP is 5 years, and now non-subsidised resale hdb owners also MOP 5 years. I'm from the latter class, ah gong never give me subsidy/cpf grant/2.6% loan rate. Although I am still staying at my hdb and not planning to move anywhere, it rankles that I would have been subject to the same occupation period. OEI, where is the fairness....at least give me the 2.6% loan rate lah.
Sigh.....
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Xmasbaby:
Very well written and analyzed.I must say that for most of the people, property would likely be the biggest investment in our lifetime...I really hope that my kids will have some basic knowledge of property when they grow up...
...
Since long time I have been saying (to my around) the current property price is well over the capability of average Singaporeans. Any 4-room HDB flat above 400k is just not affordable for a combined income of S$4k or even difficult for S$5k/month. People's miscontent would grow against gvmt and they start to worry about the issue seriously.
The question is: why all the measures have not been applied much earlier, especially those targeting speculation? Speculation does only harm to property market.
A word on Mah Bao Tan: remember what he said just 1(or 2) month ago? Is he slapping himself? -
r2010:
I just wanted to know some honest view. I paid 1 percent on a private investment property last weekend. But with the new measure I am thinking of not exercising the option. I will loose the 1percent if I did not exercise. The property is in bukit timah about 1million.
you're not affected since you didn't sign the option from 30 Aug onwards right? still get can the old loan percentages. -
verykiasu2010:
they should make an exception for private property owner who are senior citizens and does not have outstanding mortgage; why is the govt discouraging senior citizens to be independent and manage their own retirement planning using rental as sustainable income? clearly investment in property/rental is the best hedge against inflation for these group of people who do not have any other alternative income.
worse are those living in HDB now while holding investment ppty (pte ppty)- if want to move house, must sell 1st before buying another one, and once the existing hdb is sold, straight away kena classified as private ppty owner and if were to buy back hdb (at another location for eg) then must also sell the private one within 6 months ......then must stay in hdb another 5 years before can touch private ppty.....double whammy....verykiasu2010:
MO is that those living in hdb while holding onto private ppty is going to hold onto their HDB for good..for the rest of their lives...cos that is the best solution, unless he/she has enough to buy a second private property.that means those living in hdb while holding private ppty for rental income cannot change / move house !!! absurd
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toddles:
Better call the bank officer up to confirm your loan amt. Signing the option to purchase with the developer only means you indicate you want to buy. It does not mean you got the loan approved. That takes a while and it depends on when the banks have to effect the new 70:30 govt policy.r2010:
I just wanted to know some honest view. I paid 1 percent on a private investment property last weekend. But with the new measure I am thinking of not exercising the option. I will loose the 1percent if I did not exercise. The property is in bukit timah about 1million.
you're not affected since you didn't sign the option from 30 Aug onwards right? still get can the old loan percentages.
I sincerely hope you got the loan approved BEFORE signing that option to purchase. Many pple make this mistake of following their hearts when buying property. If you need to cough out another $100,000, and you really have no other avenues to find this amt, then the more prudent thing is to lose that 1%. The other alternative would be to sell your first property and upgrade to a bigger unit in the new condo. I think you can cham siong with the developer since it means more money for them. -
cherrygal:
MY 2 cents worth... i think it's because they don't want to kill the aspiration of HDB owners who want to upgrade to pte ppty in future, and probably also because they expect most HDB flat dwellers would sell their flats bef they upgrade to pte ppty .As it is now, they will need more cash outlay before they can purchase one. However,for the other way round, though unfair , just shows how much they want to drive across the msg that HDB flats are not for investments... Actually I feel it's unfair too.
I think it isn't very fair to let HDB owners buy private property but private property owners cannot buy HDB flats. If HDB owners can buy private properties to rent out, it means they are very rich and should not even be taking up a HDB flat. The HDB rule is that the HDB flat must be the residential address anyway so why can't a private property owner buy a flat to live in and rent out his current private property?verykiasu2010:
worse are those living in HDB now while holding investment ppty (pte ppty)- if want to move house, must sell 1st before buying another one, and once the existing hdb is sold, straight away kena classified as private ppty owner and if were to buy back hdb (at another location for eg) then must also sell the private one within 6 months ......then must stay in hdb another 5 years before can touch private ppty.....double whammy....
that means those living in hdb while holding private ppty for rental income cannot change / move house !!! absurd
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I think some of you have brought up very valid points :
1. HDB owners can buy private after MOP, but private owner canNOT buy HDB in order to live in it (unfair treatment to citizens)
2. HDB’s MOP of 5 years for both subsidised flats (new from HDB) and unsubsidised (resale open market purchase) flats - this is unfair
They should allow private owner to buy resale flat to live in it, and MOP on subsidised flats should be longer than unsubsidised flats…that was why originally it was 5 years MOP for new flats and 2.5 years for resale flats…until in recent years some smart alec changed that to one year for the resale flat creating a speculation opportunity -
actually looong looooong time ago the MOP for new flat was 10 years
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