Impact analysis on hdb upgraders

[phantom_opera]

1. SC family, hdb fully paid
80pc LTV 10pc cash, absd 7pc but refundable if no intention to hold two

2. SC family, outstanding hdb loan
Either redeem hdb loan like 1 or
Best case 50pc ltv, 25pc cash, 7pc absd refundable
Max 30y loan if less than 35y old

3. Spr family, sell hdb first then buy pc, pay 5pc absd
80pc ltv 10pc cash

4. Spr family, buy pc then sell hdb, forget it

Conclusion spr family continue to stay hdb happily ever after
SC upgraders must be cash rich and willing to pay Absd, Cpf rich nit enough
Unless of couse sell hdb first buy resale

[Rosy]

In other words, many will choose to sell their hdb when they want to upgrade to condo.

So far this is the best way to moderate both hdb and mass market condo.

Congrats to all SC who already own both hdb and condos.

[phantom_opera]

This time u must really give credit to khaw and tharman, perfect Plan
Proxy killing next

[phantom_opera]

Best: hdb upgraders who stay at pc bought cheap cheap, rent out hdb like bro Radha goyang kaki play shares

[phantom_opera]

SPR family who owns both HDB / PC - never sell ... keep as cash cow for life
SC family owns both HDB / PC - same as SPR family ... except one more option -sell off everything and buy one CCR / landed ... happy ever after ..

Finally CM7 is creating an environment that is conducive for 1st time buyers as well as genuine upgraders... now it is possible to first sell your property ... and then buy ... last time you buy first and sell because you are scared property will run away from u

Of course SPR without properties will kpkb because first property must pay BSD 3% + ABSD 5% .... 1m property 80k goes to IRAS

[bakasa2002]

from a legal standpoint if you pledge to sell your hdb and you are buying a BUC project, will you be subjected to ABSD? Lawyers , anyone?

[phantom_opera]

from a legal standpoint if you pledge to sell your hdb and you are buying a BUC project, will you be subjected to ABSD? Lawyers , anyone?

for married couples, u will get an ABSD refund if you sell first property in 6m after getting key for 2nd property ... so genuine family upgrading is given THE GREEN LANTERN

==============================

6 ABSD relief will also be provided to eligible married couples with at least one
Singaporean spouse, who have purchased a second private residential
property and will dispose their existing residential property.
(i) The ABSD paid will be refunded if these Singaporean married couples
dispose their first property within six months of the purchase of the
second property, if the latter property is a completed unit.

(ii) If the second property is an uncompleted unit, the refund will be given if
the first property is disposed within six months of the Temporary
Occupation Permit (TOP) or Certificate of Statutory Completion (CSC)
date of the second property, whichever is earlier.

(iii) These Singaporean couples must also not acquire any other residential
property before the disposal of the first residential property, if they wish
to avail themselves of the refund on ABSD paid on the second
property.

[bakasa2002]

Of course SPR without properties will kpkb because first property must pay BSD 3% + ABSD 5% .... 1m property 80k goes to IRAS

I forsee this group will just rent ... do they pay absd for hdb?

[bakasa2002]

for married couples, u will get an ABSD refund if you sell first property in 6m after getting key for 2nd property ... so genuine family upgrading is given THE GREEN LANTERN

==============================

6 ABSD relief will also be provided to eligible married couples with at least one
Singaporean spouse, who have purchased a second private residential
property and will dispose their existing residential property.
(i) The ABSD paid will be refunded if these Singaporean married couples
dispose their first property within six months of the purchase of the
second property, if the latter property is a completed unit.

(ii) If the second property is an uncompleted unit, the refund will be given if
the first property is disposed within six months of the Temporary
Occupation Permit (TOP) or Certificate of Statutory Completion (CSC)
date of the second property, whichever is earlier.

(iii) These Singaporean couples must also not acquire any other residential
property before the disposal of the first residential property, if they wish
to avail themselves of the refund on ABSD paid on the second
property.

thank u brother ghost.

[phantom_opera]

another impact ... garmen is indirectly hinting at SPRs

Please conver to citizen, more differentiation will be made sooner or later

[wind30]

another impact ... garmen is indirectly hinting at SPRs

Please conver to citizen, more differentiation will be made sooner or later

yup and BOTH must convert... no more 1 convert, 1 remain PR which I thought is REALLY tough. Usual practice for all my PR friends is always one PR, one SC.

I also thought that this CM7 is really good.

HDB upgraders are really hit hard. Due to all the previous stupid CMs, HDB upgraders who bought condo will NEVER sell off their HDB anymore. This is really stupid as it forces up the HDB prices more than it forces it down.

Now with the tough 7% absd, there is actually a good reason to sell off their HDB.

Frankly, now everyone loses except first timers with no properties.

[chiaberry]

Is the govt sending a signal to us to stand on the side lines whilst cash-rich foreigners snap up our properties seeing S'pore as a relatively "safe" place to park their money (and also possibly their family - witness the new international sch coming up).

[amk]

another impact ... garmen is indirectly hinting at SPRs

Please conver to citizen, more differentiation will be made sooner or later

Is it very easy for SPR to convert to citizen ? I understand it is getting very tough now. I know some one who works in a high level position in a MNC bank was refused.

[Rosy]

Is it very easy for SPR to convert to citizen ? I understand it is getting very tough now. I know some one who worked in a high level position in a MNC bank was refused.

SC is getting valuable. Good news.

[phantom_opera]

Is it very easy for SPR to convert to citizen ? I understand it is getting very tough now. I know some one who worked in a high level position in a MNC bank was refused.

If spouse is SC and pay lots of tax should be easy, malaysian Chinese especially

[phantom_opera]

I forsee this group will just rent ... do they pay absd for hdb?

I think so unless is one SPR and one SC married couple
Mainland Chinese sprs with rich dad must pay 5pc when buying million dollar hdb lol

[mcmlxxvi]

I got one qn.

if couple is one SC one SPR, stays pc and hdb is wholly currently rented out, after current tenancy ends, can continue?

[amk]

Is the govt sending a signal to us to stand on the side lines whilst cash-rich foreigners snap up our properties seeing S'pore as a relatively "safe" place to park their money (and also possibly their family - witness the new international sch coming up).

Gov is matching the ABSD with HK to avoid these foreign money.
I think gov is telling genuine HDB upgraders ( who form the bulk of OCR buyers ) : dun buy now, at this price only the developers make money, you will be burned.

[phantom_opera]

I got one qn.

if couple is one SC one SPR, stays pc and hdb is wholly currently rented out, after current tenancy ends, can continue?

Good question, grey area but can always tnfr pc to SC spouse right?

[imjason]

Good question, grey area but can always tnfr pc to SC spouse right?

Depends on who is the PC owner .

[Kanarazu]

I got one qn.

if couple is one SC one SPR, stays pc and hdb is wholly currently rented out, after current tenancy ends, can continue?

This one need to enquire. The last ABSD rule in nov 2011 had taken into account the SC in such a family, if same principle is followed then it should be allowed.

[mcmlxxvi]

Depends on who is the PC owner .

PC has SPR name only. HDB has both.

[imjason]

PC has SPR name only. HDB has both.

Most likely yes... but better check with ur agent ..

[Santro]

Must check with HDB for proper response. If HDB is rented out legally then need HDB approval which is done online with a $20 fee. If they update their system to check the citizenship status of both owners during online renewal, then its a different story lah .

[mcmlxxvi]

Tq bros.....

[Kanarazu]

This one need to enquire. The last ABSD rule in nov 2011 had taken into account the SC in such a family, if same principle is followed then it should be allowed.

Rules had indeed changed now and families with 1 SC also kena Absd.

[bakasa2002]

I got one qn.

if couple is one SC one SPR, stays pc and hdb is wholly currently rented out, after current tenancy ends, can continue?

My guess is one SC and one PR family still can extend the tenancy for renting ...

[phantom_opera]

Zaobao: tharman said measures on SPRs are long term

That's it, SPRs with existing hdb and PC can only stay in hdb rent out pc and can't buy pc anymore unless sell hdb so hdb cannot be cash cow for SPR

But room rental still allowed as long as owner staying?

[DC33_2008]

Max of 5-year rental rule still applies to them.

Zaobao: tharman said measures on SPRs are long term

That's it, SPRs with existing hdb and PC can only stay in hdb rent out pc and can't buy pc anymore unless sell hdb so hdb cannot be cash cow for SPR

But room rental still allowed as long as owner staying?

[samuelk]

yup and BOTH must convert... no more 1 convert, 1 remain PR which I thought is REALLY tough. Usual practice for all my PR friends is always one PR, one SC.

I also thought that this CM7 is really good.

HDB upgraders are really hit hard. Due to all the previous stupid CMs, HDB upgraders who bought condo will NEVER sell off their HDB anymore. This is really stupid as it forces up the HDB prices more than it forces it down.

Now with the tough 7% absd, there is actually a good reason to sell off their HDB.

Frankly, now everyone loses except first timers with no properties.

I doubt they bother to convert if they have a son