Punggol East By-Election coming ? MP steps down
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Harlequin:
I also very paiseh, cos i really don't understand why you said with the high S$ can made foreign acquisition cheaper.
Maybe he meant when we go and buy up stuff overseas it will be cheaper. -
@Sinoboy: To kill the foreign interest must we kill ourselves first?
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Thailand 18% interest, but foreign $$ hardly even want to make a transit there.
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pirate:
Ya buy or invest. Stuff like companies and banks would appear cheaper?Harlequin:
I also very paiseh, cos i really don't understand why you said with the high S$ can made foreign acquisition cheaper.
Maybe he meant when we go and buy up stuff overseas it will be cheaper.
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Isn't the below policy workable to provide sufficient supply of resale HDB flats so that HDB flat prices will not go out of control?
\"The problem is insufficient HDB flats for majority, MND allows people to retain HDB flat after buying private properties now. They should go back to good old day where these HDB up-grader must sell their HDB flat within 6 months after buying their private property so that they do not hog the HDB flat and create under supply of resale HDB flat.\"
Remember, above policy was in force previously in the 199x-200x. At that time, that HDB flats prices are stable and we know it will never go high because of this policy. Given what we know, Are you now saying that at that time that Minister of National Development created the above policy that is totally useless? :yikes:
Now, back to my next statement:
\"They should concentrate on their efforts on providing sufficient HDB flats for majority\"
We know the spiral effect: Once resale HDB flat prices drop, new HDB flats will sure have to drop because Govt already said the new HDB flats are pegged to resale HDB flats prices. They should focus their effort on increasing the supply of new HDB flats quickly (rather than ask citizens to wait 3-4 years for their new BTO HDB flats), rather than thinking about how to milk extra revenue via ABSD etc from private properties. You think people don't know they did not stay focused on solving the over-priced and under-supply HDB flats problem? Otherwise why MND still can find time thinking about how to milk extra revenue from ABSD, SSD and put them into good excuse as \"cooling measures\" etc rather than having solved the HDB flats problem?
Next,
\"They should concentrate on their efforts on providing sufficient HDB flats for majority and leave the private property market alone as the old saying those rich people can take care of themselves. Let that be a free market and make people to work hard to achieve to own private property. Why they impose ABSD on Rich foreigner, let them pay premium for high end private property since we are selling them space in the air. This will benefit citizen.\"
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?
Given all the above, is it any wonder they lose Punggol East by-election by a wide margin? :slapshead:3Boys:
Can you explain how the paragraph in blue above translates into a workable policy without creating all sorts of internal contradictions?JannettLee:
What I wrote that are contradicting myself left right and centre?
What serious misperceptions about the intent and implementation of the housing policies I have?
It is meaningless to make sweeping statements without elaborating.
[quote=\"JannettLee\"]They should concentrate on their efforts on providing sufficient HDB flats for majority and leave the private property market alone as the old saying those rich people can take care of themselves. Let that be a free market and make people to work hard to achieve to own private property. Why they impose ABSD on Rich foreigner, let them pay premium for high end private property since we are selling them space in the air. This will benefit citizen.
The problem is insufficient HDB flats for majority, MND allows people to retain HDB flat after buying private properties now. They should go back to good old day where these up-grader must sell their HDB flat within 6 months after buying their private property so that they do not hog the HDB flat and create under supply of resale HDB flat. Instead of tackling this problem, they implemented cooling off measures!3Boys:
Janett, you are contradicting yourself left right and centre. Seriously, you have serious misperceptions about the intent and implementation of the housing policies.
In another thread, you say it's now difficult for HDB upgraders to move on to condo. If one does place a cap on condo prices (via ABSD, for instance), how does the condo price stay affordable?
Does the ABSD on foreigners not translate into a 'premium', in terms of tax revenues for the g'ment that can be deployed for other uses? If they want to buy the property despite the ABSD, I say, power to them. And it caps the prices of condos for locals.
Just some examples of an internal contradiction, there are others......[/quote] -
wow so many nice photos here
http://www.facebook.com/media/set/?set=a.10151447436571383.544745.14440041382&type=1 -
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! -
rains:
But you are the one bringing up the examples! And you blame the g'ment for that! You rage because you don't care about material things but others do? That seems to be the sum of your discontent.
Indeed. Material examples. Doesn't that speak volume of the kinda government you have there?3Boys:
Sounds pretty disgruntled to me. I'm not even sure what you are even griping at now, with your latest post, you have vacillated between the g'ment not serving the people, to now, the g'ment serving the people, but using nefarious means. Which is it?
The g'ment didn't swindle or embezzle, they did not conduct a war of aggression against another nation, they did not abuse and exploit aboriginals.
Yes, they have a hard nosed economic policy, which fills the coffers.
Is that a crime?
You have a mighty big chip on your shoulder, and you don't even realise it.
If you have an issue with people telling you to accept one thing, but they accepting another, please don't be a child to your parents, since they will be telling you to study, whilst they are out gardening or reading the papers. Please don't work in any kind of company, since the boss will be telling you you are getting what you deserve whilst he may be taking double your pay.
It's a funny axe you are grinding. If indeed you aren't the envious type, one wonders why all the examples you've brought up till now are material ones........on one hand you don't care where people dine, on the other hand you get insulted...... :?
I don't want to get personal with insults even when you are. Ironically, you behave in the same manner as the miws when challenged.
I haven't contradicted myself. The only reason you find me contradictory is because you haven't thought about issues from others' standpoint.
Sure. They don't swindle or embezzle. You mean you haven't heard what they say about why they need such fat paychecks - to stay upright and clean.
Whatever
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irrelevant,
You are not addressing the point, hence what you said are \"irrelevant\".
Firstly, 29% of singaporeans own more than 1 property. Isn't that a big figure by itself?
My question is about ABSD is that it is being introduced as a tool to earn extra revenue, not about whether to pay or not.
Also, ABSD penalizes singaporean property owners as buyers (especially foreigners since they are the ones with the means and money to buy now given the draconian loan-to-valuation and cash downpayment etc in the latest cooling measures) will deduct this ABSD amount from offer price. As such, govt is earning extra revenue from singaporean property owners directly/indirectly.
You reckon foreign buyers are NOT happy to pay 15%+3% stamp duty? Why am I still seeing property transactions purchased by foreigners? You are just contradicting yourself. :siao:
To foreigners like another forumer like Claudia, the cooling measures are blessing in disguise because she managed to bought a property at a relatively cheaper price in her opinion after the cooling measure (when before that she was unwilling to buy since nobody want to sell her cheap). So, isn't this evidence that current cooling measures penalizes singaporean property owners?
If they want cooling measures, can, but please do not milk extra revenue using policy like ABSD to benefit at the expense of singaporean property owners, and please do not make more singaporean property owners/buyers become marginalized.Irrelevant:
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!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?
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Irrelevant:
I hate the ABSD.. but at this moment I believe and trust the judgement of the govt.
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!
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:
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