Property Views

[hquek]

qms:

vicki:

Pai Sey - just to clarify.


So, if you buy HDB, can you sell within the 5years? Aka, once you buy HDB, cannot dream of private until 5yrs later har?

No, you can't sell as long as you have not met the MOP.

Very odd. If you buy subsidised HDB flat (eg 1st hand from HDB), you can't sell until 5 years later - and also cannot buy private.

but if you buy 2nd hand resale, non-subsidised HDB, must stay there for 5 years before you can buy private. But what if that fella sells? then stay under a bridge? A bit confused there.

Anyone knows if a person has hdb and private property NOW, if he sells the hdb, can buy another hdb? or have to sell BOTH?

Sorry, but I really dunno how this is supposed to work.

[raynreg]

hquek:

Anyone knows if a person has hdb and private property NOW, if he sells the hdb, can buy another hdb? or have to sell BOTH?

I suppose all these takes effect oni after the NDR. So if he/she has both HDB and private properties now and he chooses to sell the former (after meeting the \"old\" MOP), he would have to sell his private within 6 mths after obtaining another HDB. The new HDB would then have to be subjected to the \"new\" 5 yrs MOP.

[vicki]

So actually, if you stay in HDB (for more than 5 yrs) and if you are "rich" enough to buy a private property - you can do so - and you dont contravene any rules?!


Wah! So actually if you are in one of those in this category, you technically "tan dio" - cos 5 yrs ago (2005), property pxs (lets assume HDB) was actually quite low - being the fact that we just "came out" of the 2003 SARS recession.

So, you would have met your MOP, and you would have a low repayment (cos property pxs cheaper then), assume you would have saved enuff to venture a 2nd property now - so you can actually still act on it!

[ponyo]

vicki:

So actually, if you stay in HDB (for more than 5 yrs) and if you are \"rich\" enough to buy a private property - you can do so - and you dont contravene any rules?!

yes, but then property prices are still very high now so unless you have a lot of si fang qian :evil: to take minimal loan and zero loan outstanding on your old HDB, it is still difficult to buy one without having to sell off your hdb

[Funz]

Actually I think the new ruling will affect quite a few PRs and new Singaporeans. Those who are already comfortably ensconced in their HDB and have no plans to upgrade are not affected. But for those who are looking to upgrade for whatever reasons or finally buy instead of rent may be affected. From what I know of my PR & new Singaporean frens, quite a number of them have properties in their birth country or countries where their parents are. In those countries, they can easily afford to build themselves a house or own an apartment but in Singapore, for them to buy pte, is pretty much an impossibility. And if they have to sell their overseas properties, then where will their parents and other siblings who are depending on them and living in those houses go? Think MPs & HDB will have to brace themselves for an influx of appeals.


Other then this, I think the new measures are pretty fair. If you can afford a pte property, you have no business competing with others for a HDB. If you buy a resale HDB and have fulfilled the MOP and over those years you did well and can afford a pte property that is good, not right for govt to penalise you for doing well by taking away your HDB right.

Well when setting policies, cannot take into account every single scenario. All they can do is address the majority and manage the rest by exception.

[vicki]

ponyo:

yes, but then property prices are still very high now so unless you have a lot of si fang qian :evil: to take minimal loan and zero loan outstanding on your old HDB, it is still difficult to buy one without having to sell off your hdb

im thinking - if you hang around awhile more - maybe by mid nex year - maybe the rules will still be around + property pxs would have dipped by quite abit!?

[sleepy]

Funz:

I think the new measures are pretty fair. If you can afford a pte property, you have no business competing with others for a HDB. If you buy a resale HDB and have fulfilled the MOP and over those years you did well and can afford a pte property that is good, not right for govt to penalise you for doing well by taking away your HDB right.


Well when setting policies, cannot take into account every single scenario. All they can do is address the majority and manage the rest by exception.

:goodpost:

Hopefully these measures are effective enough to curb all speculation.

HDB flats are afterall public housing and should be made affordable to majority if not all. And definitely not meant for private property owners to buy (fuel demand) & rent out

[ponyo]

hmmm…yes, then it’s a possibility provided property prices would have to dip by a fair bit…

[sleepy]

ponyo:

hmmm...yes, then it's a possibility provided property prices would have to dip by a fair bit.....

So now better 'do nothing', place money in short term FD, wait for right opportunity to enter market when price goes south

[sleepy]

Do you all think rental market would benefit from all these changes?


Because need to sell HDB flat first then buy. Short term need to stay somewhere