Watertown : Punggol Waterfront Living

[ikan bilis]

Is stamp duty reimbursement by property developer legal?
Published on Jan 30, 2012

THE Government recently introduced the 10 per cent additional buyer's stamp duty for foreigners as a measure to cool the property market.

But Far East Organization has been actively advertising a stamp duty reimbursement promotion for all its new property launches.

This seems to be a blatant attempt by the property developer to dilute the effect of the cooling measure.

Can the Ministry of National Development clarify whether such a practice is legal as it effectively discriminates against Singaporeans in their own country?

No matter what spin Far East gives to its move, reimbursing stamp duty effectively results in the developer selling its units at a lower price to foreigners.

If the Government is serious about placing Singaporeans first, why is it condoning such promotions by Far East?

Samuel Tan
http://www.straitstimes.com/STForum/...ry_760761.html

umm..... feo is a private commercial company/entity... if it wanna give foreigners more discount what you want the govt to do ??... ask govt to tell feo cannot do that ??... heya, feo wanna gives condos free to anyone also nobody can control lah... feo not even a listed company...

[Allthepies]

It takes guts to buy a property at any point in time. There is no sure win. Am sure there are many keyboard warriors who have criticised just about every property launched, and are still waiting for prices to drop since maybe 2007?

Yup it really takes a lot of guts to buy at this location, at this price and at this time.

Yup there is no sure win but there is sure lose

I'm one of the keyboard warrior who have bought in 10, where there are no frenzy buying

Good luck punggoians!

[maisonjai]

His question : If the Government is serious about placing Singaporeans first, why is it condoning such promotions by Far East?

The answer : Over 90% of units sold in Watertown picked up by S'poreans

Or is he asking between MND & FEO who got a bigger stick???

[flagship74]

Latest News: 98% Almost SOLD!!

[pineapple]

Latest News: 98% Almost SOLD!!

serious ???

[solsys]

Dear Peter,

I think I need to ask u to Stay Calm and Cool! Haha!
Latest news from the showflats - 750 units sold!

Apparently, many who saw the showflats over last 12 days are eyeing the sky patio units. And now that its launched, all those SP units with full water view - ALL snapped up ... ALL!!!

So, this month, Jan 2012, we should see private property sales rebound by more than 100% from Dec 2011. 100% !!!

DKSG
Stay Calm and Cool

KBW must be thinking, "I scored an own goal with CM5."

[Regulators]

The selling price already factors in the reimbursement so nothing to hoohah about

His question : If the Government is serious about placing Singaporeans first, why is it condoning such promotions by Far East?

The answer : Over 90% of units sold in Watertown picked up by S'poreans

Or is he asking between MND & FEO who got a bigger stick???

[teddybear]

No no you don't understand. The guy is complaining that he paid more than the foreigner to the developer (although including the 10% ABSD may be both paid same price)!!!
Govt owe him a cheap house! He is taking for granted that CM5 is to make private property cheaper for him a citizen to buy than foreigner! May be govt should make their stand clear to him what is the true reason for CM5?

The selling price already factors in the reimbursement so nothing to hoohah about

[kane]

Latest News: 98% Almost SOLD!!

98% of launched or total project?

[Xan]

Latest News: 98% Almost SOLD!!

I don't think selling that fast.
Which source you heard from?

[Xan]

Yup it really takes a lot of guts to buy at this location, at this price and at this time.

Yup there is no sure win but there is sure lose

I'm one of the keyboard warrior who have bought in 10, where there are no frenzy buying

Good luck punggoians!

For early bird buyers, not sure will win but most likely won't lose either.

Good luck dude. Enjoy your waiting

[snoopy]

KBW must be thinking, "I scored an own goal with CM5."

No need for anymore CM. there are so many cheaper options but we Singaporeans choose the expensive ones. So don't blame anyone

[Allthepies]

For early bird buyers, not sure will win but most likely won't lose either.

Good luck dude. Enjoy your waiting

Not waiting, as I said before have move on to other opportunities

[Xan]

Not waiting, as I said before have move on to other opportunities

Ok......all the best.

[bargain hunter]

Far East Organization, Fraser Centrepoint and Sekisui House continue to achieve impressive sales at Watertown in Punggol, moving 148 more units over the weekend. They have now sold 744 units in the project since Jan 18. Transacted prices range from $980 psf to $1,500 psf.
So far, 901 of the project's 992 units have been released. The most popular are the one and two-bedroom suites (527-646 sq ft) and the two- and three-bedroom units (904-1,259 sq ft). All 385 suites have been been sold. Ninety per cent of the project's buyers are Singaporeans.
Market watchers credit strong sales to the developers' marketing strategy, offering much-coveted waterfront living integrated with a mall (Waterway Point) and the Punggol MRT Station.

[ysyap]

No need for anymore CM. there are so many cheaper options but we Singaporeans choose the expensive ones. So don't blame anyone

Unfortunately KBW's tenure has already seen one CM within 6 months. Can we expect anything less?

[minority]

Latest News: 98% Almost SOLD!!

so many carrots!

[ysyap]

The success of this project will boost confidence for the site at Bartley MRT as well as Bishan MRT... but developers must be careful about the price too... a bit high is ok but not too greedy...

Mr Khaw and his team are watching closely like a hawk with many eyes!

[Xan]

so many carrots!

Ya, at the same time, there's also many sour grapes.

[hyenergix]

Ya, at the same time, there's also many sour grapes.

I think really carrot-headed at >$1100 psf at that location. ATT $8xx psf is a good buy.

[Xan]

I think really carrot-headed at >$1100 psf at that location. ATT $8xx psf is a good buy.

Luckily some bros here and myself bought below 1100psf.
Else we also kenna labelled as "carrot head".

[toiletsiao]

Luckily some bros here and myself bought below 1100psf.
Else we also kenna labelled as "carrot head".

Congrats on our purchase... An additional benefit is u r entitled to loyalty discount for future feo projects...nice option to have if you choose to buy feo projects again...

[Xan]

Congrats on our purchase... An additional benefit is u r entitled to loyalty discount for future feo projects...nice option to have if you choose to buy feo projects again...

haha i scared already, wait buy another one minority will come out and shout at me : "carrot head x 2"

[phantom_opera]

This project lowest psf is 1kpsf .... very soon no OCR project psf will be below 1kpsf ... anything below 1kpsf is cheap

[Xan]

This project lowest psf is 1kpsf .... very soon no OCR project psf will be below 1kpsf ... anything below 1kpsf is cheap

And also when buying OCR, most people are looking for mix development and convenience in transport/MRT etc.
which makes psf< 1000psf seems impossible.
Unless you dont mind buying at high quantum. (anyway, might not be true in future for such dev to exist)

[Worsty]

No need for anymore CM. there are so many cheaper options but we Singaporeans choose the expensive ones. So don't blame anyone

New launches are easier to purchase compared to resale (less cash outlay right away). Think the immediate servicing of the loan + cash upfront required for reno with resale and the deferring and years to save up for the former.

[Xan]

Latest News: 98% Almost SOLD!!

are u talking about 98% of the whole project or current launch (which exclude units not released)?

[bargain hunter]

http://www.fareast.com.sg/FEOCorp.We...e=quick-search

ticker says 750 sold. so likely 98% of units launched. if 98% of project sold, no need for the extensive ads on ALL channels, free or cable throughout the day liao.

are u talking about 98% of the whole project or current launch (which exclude units not released)?

[ulrich76]

Ya, at the same time, there's also many sour grapes.

There may be buyers who are so rich they dun give a damn whether the price go up or drop later. Down here we are saying 900psf cheap or 1200 psf expensive. To them there is no diff

[Xan]

I went in ATT forum last year, also seen this kinda sour grapes shouting 850-950psf damn expensive for such ulu location, and calling those who bought ATT "carrot head", "insane", "crazy" etc.

You don't want to congratulate these people its ok lah, why act like a loser and resort to names calling?

That time I didnt buy ATT and I see those poor ATT buyers get criticized I also feel pissed and sorry for them. What makes you think they had made a wrong decision? Now you see, ATT buyers are the winners after WT launch.