A few CCR transactions sold at a loss (reported in The Edge)

[starrynight]

Still have 16% SSD leh. And dunno whether foreigner, i.e. 10% stamp duty

At least they broke even.

[bargain hunter]

if this unit was bought and sold by a foreigner belonging to one of the 5 countries which we have an FTA, then he doesn't need to pay ABSD or SSD?

Detached house, Sentosa Cove 13,433sqft

Bought 2012-12-20 1,973psf
Sold 2013-03-06 2,084psf

[Ringo33]

if this unit was bought and sold by a foreigner belonging to one of the 5 countries which we have an FTA, then he doesn't need to pay ABSD or SSD?

SSD unavoidable

[thomastansb]

ABSD and SSD apply like the same as Singaporeans.

For example, first unit:-

US citizens/Singaporean - No ABSD
Foreigners - 15%

Second unit:-
US citizens/Singaporean - 7%
Foreigners - 15%

if this unit was bought and sold by a foreigner belonging to one of the 5 countries which we have an FTA, then he doesn't need to pay ABSD or SSD?

[bargain hunter]

ok, thanks. so no matter what will kenna 16% SSD before any other possible stamp duties.

[Ringo33]

We need more buyers like this to help fund our national budget. 16%SSD + 3% stamp duties.

[amk]

Detached house, Sentosa Cove 13,433sqft

Bought 2012-12-20 1,973psf
Sold 2013-03-06 2,084psf

are the dates correct ??

[Ringo33]

are the dates correct ??

from URA and Squarefoot.com.sg

[leesg123]

are the dates correct ??

Could be a transfer to a family member.

[Ringo33]

Could be a transfer to a family member.

Assuming seller is a foreigner. buy kenna 10% ABSD, transfer now will be another 15% ABSD.

Doesnt make sense leh.

[proper-t]

Under some circumstances, foreigners need not pay SSD when they dispose of their properties in Singapore.

http://www.iras.gov.sg/irasHome/page04.aspx?id=10204

Seller's stamp duty (SSD) for residential properties is exempted for sellers/transferors under the following scenarios:–

• Licensed housing developers who are governed under the Housing Developers (Control and Licensing) Act need not pay SSD when selling residential properties developed by them.
• Public authorities in exercising their functions and duties need not pay SSD when selling residential properties, e.g. Housing & Development Board (HDB), Jurong Town Corporation (JTC).
• Residential property owners need not pay SSD when their properties are acquired by the Government under the Land Acquisitions Act.
• Residential property owners need not pay SSD when selling their residential properties due to bankruptcy or involuntary winding up.
• Foreigners need not pay SSD when they have to sell their residential properties as required under the Residential Properties Act.

Since the assumption here is that seller is a foreigner, can anyone be absolutely certain that this seller did indeed pay seller stamp duty and incurred a loss?

[Ringo33]

Under some circumstances, foreigners need not pay SSD when they dispose of their properties in Singapore.

http://www.iras.gov.sg/irasHome/page04.aspx?id=10204

Since the assumption here is that seller is a foreigner, can anyone be absolutely certain that this seller did indeed pay seller stamp duty and incurred a loss?

Go find out let us know. Thanks

[proper-t]

Go find out let us know. Thanks

That statement should be going to any person making the claim that the seller made a loss since the veracity of his statement is in question unless those people are used to making claims or statements without any backing and have no qualms about redeeeming their credibility.

[starrynight]

I'm not sure why this transaction is generating such high levels of interest, but for what it's worth, the ppty in question is 22 Coral Island

from URA and Squarefoot.com.sg

[proper-t]

I'm not sure why this transaction is generating such high levels of interest, but for what it's worth, the ppty in question is 22 Coral Island

You should question the person who brought it up in the first place and what are his motives? Anyway, the answer is not very far away a few threads down.

[starrynight]

Floor plans, in case anyone's interested

http://www.sentosacove-property.com/...oorplan/22.pdf

You should question the person who brought it up in the first place and what are his motives? Anyway, the answer is not very far away a few threads down.

[proper-t]

Floor plans, in case anyone's interested

http://www.sentosacove-property.com/...oorplan/22.pdf

Thks. Very nice.

[Ringo33]

You should question the person who brought it up in the first place and what are his motives? Anyway, the answer is not very far away a few threads down.

Aiyo just because this transaction involve landed property you must be so defensive. Asking dumb questions and talk till like landed property can never lose money.

[Ringo33]

I'm not sure why this transaction is generating such high levels of interest, but for what it's worth, the ppty in question is 22 Coral Island

Nothing big deal about this property just like any property transaction posted earlier. Perhaps some forummer just doesn't like other talking negative news about landed property.

[proper-t]

Aiyo just because this transaction involve landed property you must be so defensive. Asking dumb questions and talk till like landed property can never lose money.

Defensive? Hardly...Shouldn't responsible forumers back up their claims or statements with verifiable facts?

Anyway, I leave it to readers here to judge the tone and objectivity behind the posting below.

For someone who claims its no big deal, these sure are BIG and BOLD fonts...

Wow, landed property sure can make you lots of money.
Detached house, Sentosa Cove 13,433sqft

Bought 2012-12-20 1,973psf
Sold 2013-03-06 2,084psf

Profit $1,491,063
Annualized profit 30.1%

er.....but wait....who is paying for the SSD?


16% x 28,000,000 = $4.48m
3% - 5400 stamp duties = $789,600
Total loss $5,269,600
Annualized loss 95%


Yeah, landed property owner sure got holding power....perhaps er losing power

[phantom_opera]

MM still king in CCR, The Oxley

2013-03-14 #XX-XX 549 2,186psf 2008-04-18 1,512 370,026 1,791 7.8

[bargain hunter]

new psf low for twin peaks. 2469psf albeit for 1894 sq ft unit. looks like the ABSD discount for this project has started.

[bargain hunter]

espada, very good deal for MM buyer, 1 bedder at only 900k for D9?

Sold 2013-02-28: 910k 355 sq ft 2562psf.
Bought 2010-01-23: 2359psf.

must be one of the thinnest MM profit margins for seller in recent times.

[phantom_opera]

espada, very good deal for MM buyer, 1 bedder at only 900k for D9?

Sold 2013-02-28: 910k 355 sq ft 2562psf.
Bought 2010-01-23: 2359psf.

must be one of the thinnest MM profit margins for seller in recent times.

this kind psf quantum already too high for MM play

[Ringo33]

Another Sentosa Cove bungalow just change hand.
Suspect could be132 cove drive Sentosa

Bought 07-May-10 $15,600,000
Sold 13-Mar-13 $16,200,000

If include agent commission and stamp duty, loss money.

[starrynight]

Date Type Type of sale UnitArea $ $psf
Mar 13 Detached House Resale- 7,266 16,200,000 2,230
May 10 Detached House Resale- 7,266 15,600,000 2,147

Another Sentosa Cove bungalow just change hand.
Suspect could be132 cove drive Sentosa

Bought 07-May-10 $15,600,000
Sold 13-Mar-13 $16,200,000

If include agent commission and stamp duty, loss money.

[economist]

checked. It is 132.

[kane]

The sentosa hurrah seems to be over.

[phantom_opera]

Singapore CCR is probably undervalued relative to other madness

Sweden


London



Belgian




Norway



Iceland (surprise X88)



French

[may2012]

can anyone make a guess?

how many percentage of ccr transections in the last 3 mth are negative sales after all cost?