Property Views
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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
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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. -
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!? -
Funz:
:goodpost: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.
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 -
hmmm…yes, then it’s a possibility provided property prices would have to dip by a fair bit…
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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 -
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 -
sleepy:
Nah - no point putting $$ in FD - rates too low! How about taking a little bit of risk n 'investing/ speculating' shares instead?
So now better 'do nothing', place money in short term FD, wait for right opportunity to enter market when price goes south
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sleepy:
:goodpost: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.
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
I totally agree...
In my opinion, no matter what measures the govt implement, it can't please everybody and the most important is that HDB flats must be made affordable!!!
The latest measures would probably affect PR & mass market upgraders.
1. I really can't find the rationale for PRs to sell their property in their country, it really dun make sense to me because what they own in their own native country will not affect the local property sentiments.
2. For PR, they can't buy new HDB so they go for resale HDB. Now that the MOP extend to 5 years, the buyer must be very careful. Because if PR buy a HDB flat and after 1 year, selected for Lift Upgrading or Home Improvement Scheme, they may find its unfair. For LUP, PR pay around $13-15K whereas citizens pay around $1k, for HIP I think PR pay around $25-30K whereas citizens pay only a couple of thousands, if I am not wrong. If selected, they may not be able to sell the flat due to the 5 years MOP, and have no choice but to pay although the value of flat will increase after the upgrading. Most important is do you have the choice?
3. For mass market upgraders, if they have to buy with LTV of 70%, they have to cough out additional $100k for a $1m property, i.e. $100k cash, $200k CPF as compared to $50k cash, $150k CPF. I think its rather drastic.
4. Frankly speaking, for the next 3-5 months, chances we can't see the impact in the price for HDB resale flat because although the COV may dip a little bit, the valuation for the next few months will still increase. This is because the HDB valuation is using the direct comparison method ( which is the recent transacted price in the area). The prices shown in the HDB website is based on the completion date which means the deals are sealed about 3-6months ago. Before the new measures, the prices are still going up so the next few months, valuation will still be up. It will come back to square one because valuation up, COV dip, so for the next few months, the impact not so great.
But no matter what, I strongly applauded the new measures although I think abit late, because the HDB flats are simply too EXPENSIVE at his point of time!!!
Before the new meaasures are introduced, sometimes I wondered how much Pinnacle at Duxton will sell after 5 years if this rate continues.... -
From HDB’s reply to forum letters in Today’s newspaper, it seems that only OTPs submitted after 30 Aug are subject to the new rules.
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