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Thread: Govt eases property cooling measures: sellers' stamp duty holding period now 3 years,

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    Default Govt eases property cooling measures: sellers' stamp duty holding period now 3 years,

    http://www.straitstimes.com/business...t-tdsr-relaxed

    Govt eases property cooling measures: sellers' stamp duty holding period now 3 years, rates cut; TDSR relaxed
    PUBLISHED9 MIN AGOUPDATED5 MIN AGO
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    SINGAPORE - The Government has relaxed some property cooling measures. The new rules take effect from March 11.

    The sellers' stamp duty (SSD) is currently payable by those who sell a residential property within 4 years of purchase, at rates of between 4 per cent and 16 per cent of the property's value

    The changes will see SSD holding period cut to three years, down from four.


    The SSD rates will also be lowered by four percentage points for each tier.

    The new SSD rates will range from 4 per cent (for properties sold in the third year) to 12 per cent (for those sold within the first year).

    The TDSR framework will no longer apply to mortgage equity withdrawal loans with loan-to-value ratios of 50 per cent and below.

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    http://www.businesstimes.com.sg/real...ty-interest-in


    THERE will be a new stamp duty levied on the purchase and sale of residential property in property holding entities (PHE) with effect from March 11.

    Termed the Additional Conveyance Duty (ACD), it is aimed at significant owners of equities interest in PHEs that can include partnerships, trusts and companies.

    This means that those entities whose primary residential properties in Singapore form at least 50 per cent of its tangible assets will be captured in this new requirement..................

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    Hopefully, it will spite up some interest... Huat Ah.

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    What do u all think of this? How will it affect the price?

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    So more people will able to quit the market earlier, i see this more to impact supply increase, not demand.

    Also now the loophole to move asset by company share has closed, developer may need different approach to sell its stock, likely end up to give more discount.

    I believe both new rules above is to make price more affordable.

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    So the new SSD is only for those who bought their property after 11 Mar 2017 right? Those who are current owners still on the 4 years SSD?

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    Quote Originally Posted by xtreme_46 View Post
    So the new SSD is only for those who bought their property after 11 Mar 2017 right? Those who are current owners still on the 4 years SSD?
    my agent said its for everyone who sells their property from 11 mar 2017. ie if bought on 10th mar 2014, can sell on 11 mar 2017 without having to pay any SSD. anyone wants to confirm with their agents?

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    Quote Originally Posted by bargain hunter View Post
    my agent said its for everyone who sells their property from 11 mar 2017. ie if bought on 10th mar 2014, can sell on 11 mar 2017 without having to pay any SSD. anyone wants to confirm with their agents?
    Wah this is nice if it is true.. but i thought i heard the other way and ie, it only apply to those who bought after 11 Mar

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    Quote Originally Posted by stl67 View Post
    Wah this is nice if it is true.. but i thought i heard the other way and ie, it only apply to those who bought after 11 Mar
    from mnd website, you are right!

    http://app.mnd.gov.sg/Portals/0/Join...leaseAnnex.pdf

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    Quote Originally Posted by bargain hunter View Post
    my agent said its for everyone who sells their property from 11 mar 2017. ie if bought on 10th mar 2014, can sell on 11 mar 2017 without having to pay any SSD. anyone wants to confirm with their agents?
    the news released today...your agent so fast know already?

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    Quote Originally Posted by bargain hunter View Post
    my agent said its for everyone who sells their property from 11 mar 2017. ie if bought on 10th mar 2014, can sell on 11 mar 2017 without having to pay any SSD. anyone wants to confirm with their agents?
    Your agent very blur lah.

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    I bought my unit last year...so if this unit I want to sell...is 12% right? But is wait 3 or 4 years?

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    Quote Originally Posted by xtreme_46 View Post
    the news released today...your agent so fast know already?
    i update and ask her to find out lor. who knows end up come back is wrong info. lol.

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    Quote Originally Posted by xtreme_46 View Post
    I bought my unit last year...so if this unit I want to sell...is 12% right? But is wait 3 or 4 years?
    http://app.mnd.gov.sg/Portals/0/Join...leaseAnnex.pdf

    sorry to tell u that from the mnd link, its 16% if sell now or 4 year wait to don't pay any SSD.

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    Quote Originally Posted by xtreme_46 View Post
    I bought my unit last year...so if this unit I want to sell...is 12% right? But is wait 3 or 4 years?
    Those units bought before 11 March 2017, no change in the SSD.
    So if you wanna sell it within 1 year, you still have to pay the 16% SSD.

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    Quote Originally Posted by princess_morbucks View Post
    Those units bought before 11 March 2017, no change in the SSD.
    So if you wanna sell it within 1 year, you still have to pay the 12% SSD.
    as corrected above, 16%! yikes!

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    the date of purchase refer to exercise option or collection of keys? Since in between got gap of about 2 months

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    Wow! Relaxing of SSD and TDSR property cooling measures!

    Didn't they just said less than 1 MONTH ago that it is NOT TIME to relax property cooling measures???? <1 MONTH is long enough for them to change their mind???

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    Tightening cycle has ended

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    more to come..

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    Quote Originally Posted by princess_morbucks View Post
    Those units bought before 11 March 2017, no change in the SSD.
    So if you wanna sell it within 1 year, you still have to pay the 16% SSD.
    Where got people so boliao buy sell in 1 year in today's market? Still got about 3% BSD and lawyer fees etc.
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

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    Market sensitive info how can anyhow reveal to you?

    Quote Originally Posted by teddybear View Post
    Wow! Relaxing of SSD and TDSR property cooling measures!

    Didn't they just said less than 1 MONTH ago that it is NOT TIME to relax property cooling measures???? <1 MONTH is long enough for them to change their mind???
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

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    Buy before the removal of more cooling measures.

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    Quote Originally Posted by teddybear View Post
    Wow! Relaxing of SSD and TDSR property cooling measures!

    Didn't they just said less than 1 MONTH ago that it is NOT TIME to relax property cooling measures???? <1 MONTH is long enough for them to change their mind???
    also, why did they release the information at around 12pm (just before 12pm actually). normally they release on a friday evening after the stock market closes.

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    The change in SSD is to allow people who are still bullish and proceed to buy on 11 Mar 17 onward the opportunity to unload their units with less penalty due to the expected poor economy coming our way the next 10 years.

    The removal of TDSR for equity-loan is to allow more people especially retirees with no income who want to downgrade the opportunity to take an equity loan without the burden of TDSR.

    These two measures are necessary in view of the weaker economy going forward. More people will be out of job and more retirees need to downgrade hence these changes.

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    Quote Originally Posted by Amber Woods View Post
    The change in SSD is to allow people who are still bullish and proceed to buy on 11 Mar 17 onward the opportunity to unload their units with less penalty due to the expected poor economy coming our way the next 10 years.

    The removal of TDSR for equity-loan is to allow more people especially retirees with no income who want to downgrade the opportunity to take an equity loan without the burden of TDSR.

    These two measures are necessary in view of the weaker economy going forward. More people will be out of job and more retirees need to downgrade hence these changes.
    If economy so bad, no need to buy. Bull and bear can suddenly switch? Haven't we been bearish for 4 years already?

    If let retirees downgrade no need to allow them leeway for TDSR... Equity loan means they continue to hold their private property.
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

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    The measures just make it easier to sell. Not buy. The absd is still a high wall to climb. I don't understand the market euphoria over this small relaxation.
    I don't see more demand that will push prices up.

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    Quote Originally Posted by Khng8 View Post
    The measures just make it easier to sell. Not buy. The absd is still a high wall to climb. I don't understand the market euphoria over this small relaxation.
    I don't see more demand that will push prices up.
    But before sell, must buy to be eligible for new 3 year SSD.
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

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    Quote Originally Posted by Kelonguni View Post
    If economy so bad, no need to buy. Bull and bear can suddenly switch? Haven't we been bearish for 4 years already?

    If let retirees downgrade no need to allow them leeway for TDSR... Equity loan means they continue to hold their private property.
    are these measures to suck up to lend lease ahead of their park place residences preview tomorrow? haha.

    effectively, this now means they can buy and flip after 3 years? lol. and those who bought grandeur park and clement canopy in the last 2 weeks, can they ask developer to change the date of sale to tomorrow?

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    For most investor mentality who have bought GP and CC, 4 years is not an issue while they wait for TOP.

    Now the short buyers and sellers are more welcome to come in. They are those that sell during sub-sales. Good price buy and good price sell type. They are usually the first to push the market up and the first to leave on any good gains.

    But is reduction of SSD to 3 years sufficient to invite enough of them? We can only wait and see.

    Quote Originally Posted by bargain hunter View Post
    are these measures to suck up to lend lease ahead of their park place residences preview tomorrow? haha.

    effectively, this now means they can buy and flip after 3 years? lol. and those who bought grandeur park and clement canopy in the last 2 weeks, can they ask developer to change the date of sale to tomorrow?
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

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