View Full Version : If u were KBW what policy would you implement...
looks like not an easy job i think there are more houses in singapore than flies....:scared-1: ....siao ah how to control hdb/condo/landed/bto/dbss/ec...everyday sre need to take panadol...:beats-me-man:
for me i would RESIGN...:D
looks like not an easy job i think there are more houses in singapore than flies....:scared-1: ....siao ah how to control hdb/condo/landed/bto/dbss/ec...everyday sre need to take panadol...:beats-me-man:
for me i would RESIGN...:D
So start to appreciate what the former had done? :tongue3:
First and foremost, after listening to the developers' and housing agent's voices, they should start listening to home owners' and potential buyers' voices and consolidate their findings in terms of priorities.
Second, they should reveal, based on these above priorities, policies which have not served the market well, and to remove housing types which have since been abused by either developers, agents or buyers.
Third, don't talk so much or give so much promises that may potentially backfire if not managed or handled well.
Fourth, arrange with specialist for next heart bypass and sleep therapist for help with all the lack of sleep...
:cheers1:
Well, didnt he volunteer for this post???
He must have known what he is in for otherwise why volunteer for this.
So its looks like its a much more complex and challenging task as compared to the health ministry.
Regretting the move, already??
kingkong1984
04-07-11, 16:38
If I were him, I would ramp up EC supplies.
But I would also take something back, HDB folks can no longer purchase private properties if they have outstanding loan. If fully paid, allowed 1 unit.
I would also build cheap cheap HDB in non mature estates and sell them cheap cheap. Built first then worry, at most, rent them out can always rent to students.
ymgsterling
04-07-11, 16:44
i think priority should be given to 1st time home owner.
For upgraders / private property etc, it should be left to the market forces.
iwantgizmos
04-07-11, 16:47
hmmm... don't tell me KBW himself started this thread, in order to get more ideas from the ppl...
I would hope him to first reach the consensus among his colleagues and the people, especially the singaporeans, what's the definition of public housing.
Is it merely a "roof above your head" or an asset class that will appreciate over time which Singaporeans, or PR in a broader scope, can accumulate wealth from it
He has to sound it out unequivocally so people can make decision accordingly
To me, the concepts of "roof above your head" and "wealth generation" are conflict with each other
KBW is in hot soup now.
Move one way and one group gets affected.
Move the other way and political pressure would come down hard on him due to vested interests.
I'm not one to teach him how to do it just because he should know what to do based on how much he is paid.:tongue3: If he wants my ideas, he got to pay for it.:)
I only want to make him aware that public housing must come with public housing attributes, otherwise it should not be called 'public' but 'market' instead.
1) Scrap DBSS or set a max sales price of not more than 2.5 times of land price
2) Impose 90% capital gains tax on PRs on sale of resale HDB flat, unless another HDB flat is bought within 6 mths. Waived if PR converts to Singaporeans.
The resale HDB market will cool immediately, given that PRs make up 20% of HDB market, and is politically popular.
I wanted to add: Cant sublet entire unit (like the old days), but that's not possible now due to the supply crunch...Haha.....
I don't think KBW is that stressed lah. His style of governance is just more paternalistic which can make him appear more worried than he actually is. I think that is what he wants to project to the public anyway.
My suggestions from another thread:
teddybear[/B]]On 1 hand they are in control of HDB flats via MND (they can control supply via building HDB flats and they can control demand via rules and regulations they have absolute control in changing) and they promise to solve the complaint about run-away HDB flats prices. On the other hand the HDB flats prices are running away much faster than private properties which is slowing down by so much vs the increasing by so much for the HDB flats' prices? Either they are incompentent or they are not doing what they said they want to do! They can slap 4yrs 16% SSD on private properties and they can't do the same for HDB flats via simiar draconian measures? :doh: Simple lah, let me give them some suggestions:
1) Nobody is allowed to simultaneous own HDB flat and private properties. (They can either keep private or keep HDB).
2) 10 years MOP. Those who sell back to HDB before 10 years MOP got slapped with 16% SSD.
3) HDB flats for own stay only, cannot rent out! :cheers1:
condoinvestor
04-07-11, 18:20
All HDB/DBSS/BTO/EC type property should be reserved for Sporeans, PRs can buy resale but for own use only, but not to let out/ partial let out,
Also if they want to buy private, they must sell their HDB, this should be implemented asap, lots of PRs living in private property and rented out their HDBs and vice versa. If they can afford private, they should give up the HDB to someone more needy....
Also impose 50% capital gains tax to PRs who sell HDB, no time limit. Use that income to help lower income Sporean families get on the HDB ladder.
condoinvestor
04-07-11, 18:21
Hi teddybear, we are on the same line......
I don't think KBW is that stressed lah. His style of governance is just more paternalistic which can make him appear more worried than he actually is. I think that is what he wants to project to the public anyway.
... And ppl already sympathize with him ...;) win one already.
MBT too arrogant, that's why ppl dun like him.
looks like not an easy job i think there are more houses in singapore than flies....:scared-1: ....siao ah how to control hdb/condo/landed/bto/dbss/ec...everyday sre need to take panadol...:beats-me-man:
for me i would RESIGN...:D
buy a sealy mattress for better sleep :sick:
linchong84
04-07-11, 19:42
If he wants to do good to public housing, he can do the following:
1. Push out lots of BTO supplies (he's already trying to do it).
2. Launch some BTOs in good location eg kallang, bishan, etc. And launch them more exp than normal BTO but cheaper than DBSS (ie 500-550k 5-room BTO).
3. Increase BTO income ceiling to 9k and EC income ceiling fixed at 10k.
4. Remove the first-timer grant for people buying resale HDB.
5. Push out more ECs all over the island (OCR).
6. Scrap DBSS system and convert all initially planned DBSS sites into BTO.
7. Ban people from owning both private and HDB. Existing owners who fall into this category must sell within 2 years.
And he must do all these soon so that if some people got angry with him, they will forget 5 years later when things return to normal..
In some countries, foreigners can only sell to locals. This can curbed foreign speculation to a great degree.
The justification was simple, foreigners must buy with the mind that when they sell it must be at a price that a local is willing to pay.
I believe Australia used to practise this (not sure about now). And Australia is a huge country unlike land-scarce Singapore.
Just a thought.
In some countries, foreigners can only sell to locals. This can curbed foreign speculation to a great degree.
The justification was simple, foreigners must buy with the mind that when they sell it must be at a price that a local is willing to pay.
I believe Australia used to practise this (not sure about now). And Australia is a huge country unlike land-scarce Singapore.
Just a thought.
Although I understand the spirit of this, i dun agree with this principle. It should be a free economy, especially for SG, where it's known and established to be a free and fair economic and political system. This foundation cannot be shaken at will.
And mate, Ausrtalia is hardly a good example of a good economy. Totally unbalanced development. Just look at the diff between west and east Australia. Everything is just dig-out-and-sell-to-china.
This policy is useful in the long term. But it will cause dumping of properties by foreigners in the short term because there are far too many foreigners owning condos in Singapore e.g. Indonesians and Malaysians. It might cause pte property prices, developers and banks to be severely affected. Given the weak global economy, this is an extremely unlikely policy.
Yep, points taken. It's just a thought, I am aware that to implement something like this is near impossible. Anyway, it is probably too late.
Cheers!
Although I understand the spirit of this, i dun agree with this principle. It should be a free economy, especially for SG, where it's known and established to be a free and fair economic and political system. This foundation cannot be shaken at will.
And mate, Ausrtalia is hardly a good example of a good economy. Totally unbalanced development. Just look at the diff between west and east Australia. Everything is just dig-out-and-sell-to-china.
At least they got lots of dirt to "dig-out-and-sell-to-china". We can't even buy dirt from our neigbours (for reclaimation....):D
So we have to continue to sell air to foreigners (strata-titled condos).:cheers1:
All HDB/DBSS/BTO/EC type property should be reserved for Sporeans, PRs can buy resale but for own use only, but not to let out/ partial let out,
Also if they want to buy private, they must sell their HDB, this should be implemented asap, lots of PRs living in private property and rented out their HDBs and vice versa. If they can afford private, they should give up the HDB to someone more needy....
Also impose 50% capital gains tax to PRs who sell HDB, no time limit. Use that income to help lower income Sporean families get on the HDB ladder.
KBW offered to take up this job, most of us thought that he already has some ideas in mind. But we know that this is not an easy task, partly also because he has no experience in this field. He once said that supply is more than demand, I think he is hopping that this news will bring the ppty prices down but looks like it doesn't really help much in this round.
I strongly agree with the above quoted by "condoinvestor". Govt is like our parents. Singaporeans should be taken care of first before the foreigners. Those PR who bought the resale HDB flat should use it for their own stay only. They shouldn't rent it out to earn additional income. If they want, then convert to Singaporeans, so that they can also have a share of those benefits that Singaporeans have.
Anxious buyers are waiting for the ppty prices to drop but how about the developers & investors, of course they hope that the ppty prices will keep on rising. When people want to buy, they want to buy low but when people want to sell, they want to sell high, headache lahhhhhh. :doh:
hmmm... don't tell me KBW himself started this thread, in order to get more ideas from the ppl...
hmm excuse me i am not chinese....;)
Whatever it is, there are many ideas here for him and his team to explore and improve on... cheers!:cheers1:
Agreed on this.
However, HDB is not free market since new units are reserved for citizens only.
Private properties market should be left to market forces and Govt should not interfere and create artificial prices. This should be similar to the stock market which is left to market forces. Otherwise they should intervene when stock market index STI go up to much or drop too much. :p
Although I understand the spirit of this, i dun agree with this principle. It should be a free economy, especially for SG, where it's known and established to be a free and fair economic and political system. This foundation cannot be shaken at will.
And mate, Ausrtalia is hardly a good example of a good economy. Totally unbalanced development. Just look at the diff between west and east Australia. Everything is just dig-out-and-sell-to-china.
devilplate
04-07-11, 22:33
All HDB/DBSS/BTO/EC type property should be reserved for Sporeans, PRs can buy resale but for own use only, but not to let out/ partial let out,
Also if they want to buy private, they must sell their HDB, this should be implemented asap, lots of PRs living in private property and rented out their HDBs and vice versa. If they can afford private, they should give up the HDB to someone more needy....
Also impose 50% capital gains tax to PRs who sell HDB, no time limit. Use that income to help lower income Sporean families get on the HDB ladder.
Yes....its time to draw a clearer line between singaporeans and pr
Many pr bot hdb resale flat n rent out rooms immediately...
linchong84
04-07-11, 22:41
Yes....its time to draw a clearer line between singaporeans and pr
Many pr bot hdb resale flat n rent out rooms immediately...
This kind of thing is cross-ministry level of decisions, KBW got no power one. To the cabinet, they might feel priority to to attact PRs and FTs, while housing is a secondary issue. So, even if KBW wants it to happen, the rest of the ministers might object.
Not so simple..
Agreed on this.
However, HDB is not free market since new units are reserved for citizens only.
Private properties market should be left to market forces and Govt should not interfere and create artificial prices. This should be similar to the stock market which is left to market forces. Otherwise they should intervene when stock market index STI go up to much or drop too much. :p
you are right, and we should not restrict foreigners from buying landed properties as well. when property the bubble burst and the share price of singapore financial institutions collapse, I dont think our government should do anything either. Just let market forces play itself out. if local financial institutions fail or S$ collapse, no need to worry, just ask our President to allow GIC to cash out $100b from our reserves to rescue the banks.
KBW should simply carry on with MBT policies. He must take care of the 60% of Singaporeans who voted the PAP in and not be bogged down with the other 40%, who incidently are not entirely against MBT policies either.
Singapore has 1 dwelling unit for every 3 persons. This is at least 3 times more than other advanced countries. It is true that we have an "apparent" oversupply situation.
But this so-called oversupply is easily absorbed by the desire by most Singaporeans to own more than one property. Which many did. And more are lining up to do so. And it is perfectly fine. High liquity and low interest rates have allowed them to do so. Why are we stopping them from achieving their property dreams?
The cooling measures introduced over the past year have already taken effect. Otherwise prices would have gone over the roof by now. But then, I think, the measures so far is more than enough.
The government should not tinker with the property market too much. The market will decide when to stop or slow down. The players in the market - the developers, bankers, and buyers are fully aware of the risks and they will know when to pull the brakes. They have their eyes on the board and their ears on the ground.
It is impossible for the government to prevent some collateral damage during economic cycles. Even advanced countries with all their economic wizards are unable to prevent property cycles. It is all part of the fun and games of living in a free economy.
So KBW should get a good sleep and smile for the press...just like Dr Tony Tan. It gives the people the confidence to move on.
flagship74
04-07-11, 22:43
KBW Never sleep!:sleep:
Agree with all the points and I am not advocating anything. Just for discussion sake.
Singapore's private property is not entirely a free market. For example there are restrictions on foreign ownership of landed properties or of certain non-landed properties below a certain building height.
Basically all countries have some sort of restrictions on foreign ownership. It varies in the breadth and depth of the restrictions.
linchong84
04-07-11, 22:45
you are right, and we should not restrict foreigners from buying landed properties as well. when property the bubble burst and the share price of singapore financial institutions collapse, I dont think our government should do anything either. Just let market forces play itself out. if local financial institutions fail or S$ collapse, no need to worry, just ask our President to allow GIC to cash out $100b from our reserves to rescue the banks.
GIC lost so much billions just couple of years ago.. Maybe coffers empty liao.. that's why they selling land eagerly to earn back..
GIC lost so much billions just couple of years ago.. Maybe coffers empty liao.. that's why they selling land eagerly to earn back..
you should cast your presidential vote wisely.
. teddybear[/b]]On 1 hand they are in control of HDB flats via MND (they can control supply via building HDB flats and they can control demand via rules and regulations they have absolute control in changing) and they promise to solve the complaint about run-away HDB flats prices. On the other hand the HDB flats prices are running away much faster than private properties which is slowing down by so much vs the increasing by so much for the HDB flats' prices? Either they are incompentent or they are not doing what they said they want to do! They can slap 4yrs 16% SSD on private properties and they can't do the same for HDB flats via simiar draconian measures? Simple lah, let me give them some suggestions:
1) Nobody is allowed to simultaneous own HDB flat and private properties. (They can either keep private or keep HDB).
2) 10 years MOP. Those who sell back to HDB before 10 years MOP got slapped with 16% SSD.
3) HDB flats for own stay only, cannot rent out!
I share the same sentiments as you bro. Although I must admit that this will not go down very well with fellow people but it will definitely stable things on the other side.
True isn't it? Why bail out the banks & those fat cats using tax payers' money? :doh:
S$ collapse? That is why change paper money into hard assets like properties is better :p
you are right, and we should not restrict foreigners from buying landed properties as well. when property the bubble burst and the share price of singapore financial institutions collapse, I dont think our government should do anything either. Just let market forces play itself out. if local financial institutions fail or S$ collapse, no need to worry, just ask our President to allow GIC to cash out $100b from our reserves to rescue the banks.
Yes....its time to draw a clearer line between singaporeans and pr
Many pr bot hdb resale flat n rent out rooms immediately...
Exactly! I happen to know some PR who bought an HDB arm flat at Holland V and rented it out to local couple for $2200 per month. Anyway, this PR is planning to sell it away now because they are leaving Singapore. :sleep:
Exactly! I happen to know some PR who bought an HDB arm flat at Holland V and rented it out to local couple for $2200 per month. Anyway, this PR is planning to sell it away now because they are leaving Singapore. :sleep:
Personally I know of PRs already sold their HDB flat and keeping the gains of $200k and $300k and renting temporarily.
The approach is to wait for condo price dip and move into pte after using HDB as stepping stone.
Once they are forced to take up citizenship,
they can have the option to move back to
their own country and keep the pte ppty for
either rental or capital appreciation.
Well we can't blame them as they are definitely more hungry then sporeans and work hard on what they want instead of complaining.
striker278
04-07-11, 23:56
1) PR who buy HDB cannot rent out any room/unit no matter what. PR must stay in HDB but allow to buy private pty after MOP.
2) Developer must sell all units by TOP. Any units sold after TOP, develop will be levy a Developer Stamp Duty. 1st year 4%, 2nd year 8%, 3rd year 12%, 4th year 16%, and so on....
3) All 1st timer allowed to buy public housing direct from HDB, regardless of household income. Of course, buyers cannot own private pty and subject to MOP rules. With this rule, there is no need to increase household income ceiling.
4) Landed property strictly for Singaporean only. PR cannot buy, not even one.
All other policies remind the same for now.
:) :) :)
GIC lost so much billions just couple of years ago.. Maybe coffers empty liao.. that's why they selling land eagerly to earn back..Don't worry bro. Singapore's reserve is in the trillions figure... won't be empty for the next 40 years... :p
Exactly! I happen to know some PR who bought an HDB arm flat at Holland V and rented it out to local couple for $2200 per month. Anyway, this PR is planning to sell it away now because they are leaving Singapore. :sleep:Earn enough from Singaporeans through legal Singapore's laws and taking earnings to go home liao... :)
Originally Posted by teddybear
Agreed on this.
However, HDB is not free market since new units are reserved for citizens only.
Private properties market should be left to market forces and Govt should not interfere and create artificial prices. This should be similar to the stock market which is left to market forces. Otherwise they should intervene when stock market index STI go up to much or drop too much
you are right, and we should not restrict foreigners from buying landed properties as well. when property the bubble burst and the share price of singapore financial institutions collapse, I dont think our government should do anything either. Just let market forces play itself out. if local financial institutions fail or S$ collapse, no need to worry, just ask our President to allow GIC to cash out $100b from our reserves to rescue the banks.
Hi Jadey,
Wrt landed properties, I have to disagree. Btw, I don't think teddybear was referring to landed properties.
I feel it is correct that landed property should have restrictions. Singapore is just too small, you can let foreigners buy space in the sky but not land.
This well considered policy is a sacred cow that has served us well and should not be slaughtered in the name of free market. Cheers!
devilplate
05-07-11, 10:51
I feel it is correct that landed property should have restrictions. Singapore is just too small, you can let foreigners buy space in the sky but not land.
This well considered policy is a sacred cow that has served us well and should not be slaughtered in the name of free market. Cheers!
absolutely,
FH/999 landed shd only remain as an 'priviledge' for citizens
i am disgusted to find out tat PR can actually get the approval for landed quite easily:doh: .....shdnt allow PR to buy at all in the first place
we serve army for? protect our family and LAND rite?
absolutely,
FH/999 landed shd only remain as an 'priviledge' for citizens
i am disgusted to find out tat PR can actually get the approval for landed quite easily:doh: .....shdnt allow PR to buy at all in the first place
we serve army for? protect our family and LAND rite?Yes to protect our land for non citizens to utilize and make profits! :banghead:
Training to be soldiers, fight for our land. Once in our lives, two years of our time. Have you ever wondered, why this must be? Coz we love our land, we want it to be free to be free yeah! Free for foreigners to exploit it!!! :doh:
Wild Falcon
05-07-11, 11:38
PR should not be allowed to purchase HDB. KBW already release figures that says PR bought like 20% of our resale HDB right? So barring PR from buying HDB will not crash the market; it will just take out 20% of the excess demand which will ensure prices are stable. In any case, these "talents" should earn enough to buy or rent private unsubsidised flats.
PR should not be allowed to purchase HDB. KBW already release figures that says PR bought like 20% of our resale HDB right? So barring PR from buying HDB will not crash the market; it will just take out 20% of the excess demand which will ensure prices are stable. In any case, these "talents" should earn enough to buy or rent private unsubsidised flats.I know of PRs who do not earn that much and may not want to rent from private houses. Then again its a matter of choice, I guess. :o
devilplate
05-07-11, 11:59
I know of PRs who do not earn that much and may not want to rent from private houses. Then again its a matter of choice, I guess. :o
so either they balek kampong or take up citizenship
Agreed that landed should be reserved for citizens only. I am disgusted to hear that URA actually approve PRs to buy landed!
Now you sillyporeans serve army & fight to protect land for foreigners? (to me, PRs are also foreigners regardless of how they spin it). :banghead:
absolutely,
FH/999 landed shd only remain as an 'priviledge' for citizens
i am disgusted to find out tat PR can actually get the approval for landed quite easily:doh: .....shdnt allow PR to buy at all in the first place
we serve army for? protect our family and LAND rite?
Agreed that landed should be reserved for citizens only. I am disgusted to hear that URA actually approve PRs to buy landed!
Now you sillyporeans serve army & fight to protect land for foreigners? (to me, PRs are also foreigners regardless of how they spin it). :banghead:
If you want to promote free market in Singapore, why stop at landed property?
We need to have free market but we also need to have protected ones. We need to protect those that includes basic necessity such as basic roof over heads of citizens (e.g. cheap & basic vanilla HDB flats).
We need to protect raw land and land on very low rise building because they are too precious to be owned by foreigners!
We allow foreigners to buy high-rise condo (those more than 5 storeys high) because we are selling them air space! :D
If land still not enough, en-bloc the 30 storeys condos and build 60 storeys condos! :cheers1:
Otherwise why govt reserve the jobs of taxi drivers for citizens only? Otherwise why control the currency via MAS intervention? :p
Otherwise why reserve landed and landed properties to be owned by citizens only and even PRs must seek special approval? :tsk-tsk:
Otherwise why reserve selling of new HDB flats to citizens only?
All the above are current govt policies and they are all welcome & supported by citizens. However, in recent few years, things have deviated and citizens are angry:
1) so many PRs bidding up resale HDB flats prices when they could have afford private and avoid pushing up resale HDB flats by so much via so high COV.
2) URA approves many PRs to buy landed properties!
3) What DBSS? Trying to HDB flats at super premium? They should be selling plain vanilla but CHEAP HDB flats to citizens who need them!
4) Allow lower-income service sector foreign workers to convert to citizens and fight for the limited supply of new HDB flats!
If you want to promote free market in Singapore, why stop at landed property?
We need to have free market but we also need to have protected ones. We need to protect those that includes basic necessity such as basic roof over heads of citizens (e.g. cheap & basic vanilla HDB flats).
We need to protect raw land and land on very low rise building because they are too precious to be owned by foreigners!
We allow foreigners to buy high-rise condo (those more than 5 storeys high) because we are selling them air space! :D
If land still not enough, en-bloc the 30 storeys condos and build 60 storeys condos! :cheers1:
:tsk-tsk:
Kind of funny that you are worried about foreigners buying landed properties while you do not mention anything about PR buying HDB flats.
I think the underlying reason is more because of your personal self interest than anything else. e.g. you want free market in strata titled properties to boost your investment, but you want landed house to remain affordable so that you could own one in future.
devilplate
05-07-11, 14:30
If you want to promote free market in Singapore, why stop at landed property?
Smply bcoz landed is not strata titled....owner hold land title
Tats a big big difference:tsk-tsk: :tsk-tsk: :tsk-tsk:
However, i m perfectly alrite for them to buy 99lh landed:D
devilplate
05-07-11, 14:31
Kind of funny that you are worried about foreigners buying landed properties while you do not mention anything about PR buying HDB flats.
I think the underlying reason is more because of your personal self interest than anything else. e.g. you want free market in strata titled properties to boost your investment, but you want landed house to remain affordable so that you could own one in future.
Teddy mentioned abt banning pr from buying resale flats la....u goto read earlier posts
Smply bcoz landed is not strata titled....owner hold land title
Tats a big big difference:tsk-tsk: :tsk-tsk: :tsk-tsk:
However, i m perfectly alrite for them to buy 99lh landed:DCannot allow them to buy landed at all, whether 99lh, 999lh or freehold. Its far too precious to let foreigners hold land titles... Singapore's land is far too precious! :(
Smply bcoz landed is not strata titled....owner hold land title
Tats a big big difference:tsk-tsk: :tsk-tsk: :tsk-tsk:
However, i m perfectly alrite for them to buy 99lh landed:D
Actually, whether landed or not, the only thing associated with the ownership that can be taken away from this island is a piece of paper called "land title", isn't it
http://www.sla.gov.sg/images/common/hdr/hdr_property.gif
Foreign Ownership of Properties
http://www.sla.gov.sg/images/common/ser/img_ser0306.jpg Since 1973, the Singapore Government has imposed restrictions on foreign ownership of private residential property in Singapore. Such ownership is governed by the Residential Property Act (the Act).
The Act seeks to strike a balance between giving Singaporeans a stake in the country by being able to buy and own residential properties at affordable prices, while attracting foreign talent by allowing permanent residents, foreign companies and limited liability partnerships that make an economic contribution to Singapore to purchase such properties for their occupation.
The Land Dealings (Approval) Unit administers the provisions of the Act and its rules by:
processing applications from foreign persons for approval to acquire or retain restricted residential property;
issuing clearance certificates to Singapore companies, limited liability partnerships and societies;
prosecuting offences under the Act; and
dealing with general enquiries relating to the operation of the Act.
Under the Act, a foreign person means any person who is not any of the following:
Singapore citizen;
Singapore company;
Singapore limited liability partnership; or
Singapore society.What is restricted residential property under the Residential Property Act
A foreign person cannot acquire or purchase restricted residential property unless he obtains the prior approval of the Minister for Law. Such property includes:
vacant residential land;
landed property [i.e detached house, semi-detached house, terrace house (including linked house or townhouse)]; and
landed property in strata developments which are not approved condominium developments under the Planning Act.
kingkong1984
05-07-11, 15:27
yes, imagine rich nation buy up FH landed and keep them empty. It will be as good as shrinking the usable land in Singapore.
Kind of funny that you are worried about foreigners buying landed properties while you do not mention anything about PR buying HDB flats.
I think the underlying reason is more because of your personal self interest than anything else. e.g. you want free market in strata titled properties to boost your investment, but you want landed house to remain affordable so that you could own one in future.
I think its more a sovereignty issue. Even land-excess liberal western countries have policies to restrict foreign ownership.
Btw, for all you know, maybe teddybear already owns one (or several) landed properties and actually stands to gain more from the liberisation of the rules? and he is willing to forgo all that gain to maintain the sanctity of landed properties in Singapore.
:mad: :mad: :hell-hath-no-fury: :hell-hath-no-fury: :hell-hath-no-fury: :simmering: :simmering:
Kalpana RashiwalaSat, Jul 14, 2007
The Business Times More foreigners apply to buy landed homes http://www.asiaone.com/a1media/site/common/blank.gif(SINGAPORE) The number of applications by foreigners (including permanent residents) seeking approval from the government to buy landed properties in Singapore rose 30 per cent in 2006 against the preceding year, according to Singapore Land Authority.
'This was possibly due to the strong economy, a favourable property market and interest in Sentosa Cove,' an SLA spokeswoman said.
Foreigners including PRs face restrictions in buying landed properties in Singapore and need prior approval from the authorities before they can purchase such properties. Foreigners have to be PRs before they can receive permission to buy landed homes on mainland Singapore; Sentosa Cove is the only location where foreigners who are not PRs are allowed to purchase landed property.
Apart from an applicant's PR status, sanction to buy landed property depends on his qualifications and economic contributions to Singapore, SLA's spokeswoman stressed.
SLA declined to say how many applications were made by foreigners/PRs to buy landed property, and how many were approved.
However, based on DTZ Debenham Tie Leung's analysis of caveats captured by the Urban Redevelopment Authority's Realis database, foreigners including PRs bought 93 landed homes or 8.4 per cent of the total 1,108 landed homes transacted in Q1 2007, covering both primary and secondary markets, as well as completed and uncompleted properties.
These figures are higher than those for Q1 2006, when foreigners including PRs bought 43 landed homes, or 6.1 per cent of the total 706 landed homes that were transacted. During Q2 1996, at the height of the 1990s property bull run, PRs/foreigners purchased 31 landed homes, or 2.6 per cent of the total 1,188 landed homes that changed hands during the period.
DTZ's analysis showed that for Q1 this year, PRs bought 86 landed homes while non-PR foreigners purchased seven such homes. The most popular landed homes among foreigners as a whole were terrace houses (45 units), followed by semi-detached (26 units) and detached houses (22 units).
Private apartments/condos - a class of properties where there are no restrictions on purchases by foreigners/PRs (unless they want to buy up an entire development) - made up the majority of private homes bought by foreigners in Q1 this year. In all, foreigners/PRs bought 2,008 non-landed private homes, accounting for 30.3 per cent of the total condos/apartments bought in the period.
In Q1 this year, foreigners/PRs bought 27.2 per cent of the overall 7,731 private homes (comprising both landed and non-landed homes) that changed hands. This share is almost double their 14.1 per cent share back in Q2 1996, when foreigners/PRs purchased 975 of the total 6,932 private residential properties transacted.
DTZ executive director Ong Choon Fah said the growing foreign buying of landed homes in Singapore reflects that many foreigners/PRs are raising their families here.
'They may find that condos are too small. Very often they buy landed homes in locations close to the foreign/international schools that their children attend, for instance, in Lorong Chuan, where the Australian International School is located, and in the West Coast near the Japanese School,' she added.
'Many of these foreigners and PRs say Singapore is a very 'liveable' place. If they believe in the future of Asia, they'd want to raise their families in Asia, and Singapore is a good location, from which they can get exposure to China and India because of our connectivity,' she added.
Since 1973, foreigners (including PRs) have been prohibited from buying landed property without prior government approval. All would-be buyers must seek permission from the Land Dealings (Approval) Unit under the SLA. Typically, it takes about four weeks for approval to be granted, but in the upscale waterfront locale of Sentosa Cove, the time has been fast-tracked to less than 48 hours.
Whether on mainland Singapore or Sentosa Cove, foreigners including PRs can at any one time own only one landed home in Singapore and must occupy it themselves rather than rent it out.
However, being a PR does not automatically mean one's application to buy landed property will be approved. For instance, if the PR does not have the recognised qualifications or expertise/working experience required by Singapore or has not made any investment in the type of industry/service sector being promoted in Singapore, the application may be turned down. Even PRs who have set up businesses promoted by Singapore may find their applications rejected if their company's paid-up capital and turnover do not meet certain requirements.
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This law has been around since 1973? Its been that long! Isn't it time for some review or at least debate? :p
stalingrad
05-07-11, 16:07
If I was KBW, I would make it mandatory that no financing from banks is allowed when you purchase the 2nd and 3rd property.
One is enough. buying more than that makes you a speculator. also SSD of 16% for 10 years should be written into the constitution.
If I was KBW, I would make it mandatory that no financing from banks is allowed when you purchase the 2nd and 3rd property.
One is enough. buying more than that makes you a speculator. also SSD of 16% for 10 years should be written into the constitution.Properties are probably one of the few things that can combat Singapore's inflation rate of about 4.5%... removing that option would simply make many Singaporeans poorer and poorer! :doh:
If I am KBW, I'd implement the following:
A tier of private (not public) housing in OCR to compete with private condos. This tier of housing releases condo housing like EC but is not subjected to market forces. It is totally controlled by govt. Buyers buy cheap cheap with no intention of speculation and should they decide to move, must sell back to govt, not to the market, at rates lower than prevailing market value too (because they bought low). This tier of housing effectively removes non speculators or investors from the already hot housing market. Once the development achieves 50% resale back to govt, it'll be privatized. Here, people generally will stay on to be part of the remaining 50% so difficult to achieve that. Also, govt can recover the cost of these projects if they turn private! It can achieve
1. Control of the hot OCR market prices and prevent it from rising too rapidly.
2. To be able to more effectively target the speculative housing market should the need arises.
Just my contribution to this thread! :o
I think its more a sovereignty issue.
exactly ! that's the real crux of the issue. land is not a simple "economics" item. Why we tried so hard to get Malaysia give up that railway land ? this is not something that can be measured by money.
btw ysyap: SG's reserve is not as big as you think. it's only between 200-400bln USD only..
Jonathan0503
05-07-11, 16:31
If I was KBW, I would make it mandatory that no financing from banks is allowed when you purchase the 2nd and 3rd property.
One is enough. buying more than that makes you a speculator. also SSD of 16% for 10 years should be written into the constitution.
Doing that will not only crash the property market but also have a detrimental effect to the economy
exactly ! that's the real crux of the issue. land is not a simple "economics" item. Why we tried so hard to get Malaysia give up that railway land ? this is not something that can be measured by money.
btw ysyap: SG's reserve is not as big as you think. it's only between 200-400bln USD only..$#@# kana bluffed with those figures but maybe when USD 1 was still S$ 2, it probably was close to S$1 trillion? :D
why does very few people here buy Malaysian properties?
Looking at reasons given by forummers from other threads, besides the high crime rates, another reason is constant policy changes.
so hopefully, those who want to restrict or curtail foreign ownership/involvement in Singapore property market, be it resale HDB etc, learn from Malaysia experience.
Because after you restrict foreign ownership and then loosen, do you think foreign investors would still be attracted?
Just think of Malaysia experience. If you yourselves dont want to invest in Malaysia because once bitten twice shy, the same applies to foreign investors in Singapore too.
Better to build ahead of demand. You can play with supply, but dont play around with sentiment.:2cents:
why does very few people here buy Malaysian properties?
Looking at reasons given by forummers from other threads, besides the high crime rates, another reason is constant policy changes.
so hopefully, those who want to restrict or curtail foreign ownership/involvement in Singapore property market, be it resale HDB etc, learn from Malaysia experience.
Because after you restrict foreign ownership and then loosen, do you think foreign investors would still be attracted?
Just think of Malaysia experience. If you yourselves dont want to invest in Malaysia because once bitten twice shy, the same applies to foreign investors in Singapore too.
Better to build ahead of demand. You can play with supply, but dont play around with sentiment.:2cents:
Yupp one wrong move and all the image singapore has build over the years will be gone..
You might as well say no financing for companies as well since they don't even have hard assets as collateral (unlike properties)! :p
If I was KBW, I would make it mandatory that no financing from banks is allowed when you purchase the 2nd and 3rd property.
One is enough. buying more than that makes you a speculator. also SSD of 16% for 10 years should be written into the constitution.
5 years ago noboby is buying, fast forward everyone is buying now.
5 years ago noboby is buying, fast forward everyone is buying now.5 years later? :)
This whole property bull run is the result of under building in the last five years.... Plus super low interest rates and tons of liquidity chasing decent returns.... I still don't understand how we can I import 1m in the last ten years and not building at least 30k units of hdb and pte condo per year for each of the last ten years....
This whole property bull run is the result of under building in the last five years.... Plus super low interest rates and tons of liquidity chasing decent returns.... I still don't understand how we can I import 1m in the last ten years and not building at least 30k units of hdb and pte condo per year for each of the last ten years....Don't bother to understand! You'll loose a few years to your lifespan... It just doesn't make sense under MBT. The feeling I had about him is he'll almost certainly dismiss all the concerns by the people by giving reasons after reasons why they can't be done in ways other than what he's proposed! :doh: On the other hand, KBW gives me a slightly different feel and only time will differentiate the two ministers! We'll see... :D
Unfortunately, under a politically charged environment, sound economic decisions often have to take a back seat :(
... I just hope KBW, or rather LHL, are better than that !
Unfortunately, under a politically charged environment, sound economic decisions often have to take a back seat :(
... I just hope KBW, or rather LHL, are better than that !Since we've voted them in we must exhibit some faith in them... :D Not referring to those who voted them out or the foreigners who did not vote... :p
linchong84
05-07-11, 20:38
How does a ministry works? I thought the ministers only make decision on the plans proposed by the perm sec/deputy sec/directors, etc etc etc???
So although there is a change of minister from MBT to KBW, i doubt there are changes in the working staff.. The working staff are the one who actually develop the ideas and proposals.. So if they were screwed up last time, why will they not be equally screwed up now?
Unless you are telling me last time the perm sec recommend supply to satisfy increase in population, but MBT rejected the proposal cheekily and said 'i want to screw singapore, NO SUPPLY!'
if i were him and i'm serious about biting the bullet, i will tackle the bank valuations for new launches.
now buying resale is based roughly on transacted prices, but banks match new launches at any price. with such easy financing, buyers of new launches dunnid to top up cash and still get to stagger their payments.
once the caveats are lodged, this will in turn pull up prices of neighbouring resale.
simi ssd, mop, bto, blablabla all no use one. just make banks limit valuations of new launches to 15% of neighbouring units khaw will rein in runaway prices immediately.
linchong84
05-07-11, 20:47
if i were him and i'm serious about biting the bullet, i will tackle the bank valuations for new launches.
now buying resale is based roughly on transacted prices, but banks match new launches at any price. with such easy financing, buyers of new launches dunnid to top up cash and still get to stagger their payments.
once the caveats are lodged, this will in turn pull up prices of neighbouring resale.
simi ssd, mop, bto, blablabla all no use one. just make banks limit valuations of new launches to 15% of neighbouring units khaw will rein in runaway prices immediately.
Pte market has no problems now, why does KBW needs to do anything? He should leave it alone. The problems lie with public housing.
if i were him and i'm serious about biting the bullet, i will tackle the bank valuations for new launches.
now buying resale is based roughly on transacted prices, but banks match new launches at any price. with such easy financing, buyers of new launches dunnid to top up cash and still get to stagger their payments.
once the caveats are lodged, this will in turn pull up prices of neighbouring resale.
simi ssd, mop, bto, blablabla all no use one. just make banks limit valuations of new launches to 15% of neighbouring units khaw will rein in runaway prices immediately.From what I've been hearing about his style of doing things and his response to all those problems recently, I can confidently say that KBW is one who doesn't like to interfere with the private housing sector. He rather let nature take its course! He's so reluctant to introduce any cooling measures, etc. :doh: We'll just keep watching this space for new development lor... worse than watching stock market. At least stocks will have movement everyday. This housing thing can wait long long still only talk talk talk and rumours rumours rumours but nothing has taken place yet!!! :p
Only promise of review but no action yet! From income ceiling to now the DBSS review but not sure when will he take action... :confused:
no problem still need draconian 4 year 16% ssd?
public housing undersupply no choice liao, just accelerate supply and give more ah gong grants to couples who need to buy urgently.
Pte market has no problems now, why does KBW needs to do anything? He should leave it alone. The problems lie with public housing.
Pte market has no problems now, why does KBW needs to do anything? He should leave it alone. The problems lie with public housing.
Actually KBW needs to do something on the last property measure set by MBT..
The side effect is on the last policy is.. buyers who bought pty after the last policy in Jan this year will not be selling due to the 4-yrs SSD, whether is new launched or resale.. sooner or later you will realised that sellers will be getting lesser & lesser and at the same time there is a pent up demand of buyers forming up slowly at least up to the next 4-yrs in 2015 onwards
Currently already some of the sellers are holding back as they do not wish to commit to the next house which impose by the SSD
ya u are spot on.
now properties up quite alot but if they sell have to down 40% and kenna 4 year ssd if buy replacement.
Actually KBW needs to do something on the last property measure set by MBT..
The side effect is.. buyers who bought pty after the last policy in Jan this year will not be selling due to the 4-yrs SSD, whether is new launched or resale.. sooner or later you will realised that sellers will be getting lesser & lesser and at the same time there is a pent up demand of buyers is forming up slowly at least up to the next 4-yrs in 2015 onwards
Currently already some of the sellers are holding back as they do not wish to commit to the next house which impose by the SSD
Actually KBW needs to do something on the last property measure set by MBT..
The side effect is on the last policy is.. buyers who bought pty after the last policy in Jan this year will not be selling due to the 4-yrs SSD, whether is new launched or resale.. sooner or later you will realised that sellers will be getting lesser & lesser and at the same time there is a pent up demand of buyers forming up slowly at least up to the next 4-yrs in 2015 onwards
Currently already some of the sellers are holding back as they do not wish to commit to the next house which impose by the SSDFrom what I understand from your post, you are pointing out two undesirable effects from CM4.
First, the 4 yr SSD will lower supply in the near future if there are an insufficient new launch for private condos, pushing prices further north.
Second, this would in term stop buyers from buying that dream home because private property prices are breaking new records and they simply don't have that 40% downpayment required because of that same CM4.
Well if this scenario is impending, then our dear minister better be prepared and start doing something about it now rather than waiting till prices are so high that its near impossible to bring it down! This imbalance would be incrementally felt over the next couple of years. Then again there are always those who have ready cash to splurge but I believe there is always a limit to how high a piece of property can climb so yes KBW must start thinking about such future problems... :p
ya u are spot on.
now properties up quite alot but if they sell have to down 40% and kenna 4 year ssd if buy replacement.
And down the line..
1. more transaction now, meaning lesser sellers later
(Nowadays is like.. if a person occupied a seat, you can forget that he will leave the seat soon.. you better move-on & look for another empty seat.. if you are slow again.. is gone again)
2. less sellers and more pent-up demand buyers
3. even sellers were to sell.. those sellers will be asking at a higher price
4. resale will be in demand.. and forcing many buyers to grab it or turn to new launch if no choice
5. developers take the opportunity to increase price giving the resale market follow suit again
So less and less sellers, but more and more buyers as economy improves, paper money keep being printed, inflation remains high, ...!!! :doh:
They should just remove that 4-yrs 16% SSD! :scared-2:
The 60% LTV is already good enough!
Actually KBW needs to do something on the last property measure set by MBT..
The side effect is on the last policy is.. buyers who bought pty after the last policy in Jan this year will not be selling due to the 4-yrs SSD, whether is new launched or resale.. sooner or later you will realised that sellers will be getting lesser & lesser and at the same time there is a pent up demand of buyers forming up slowly at least up to the next 4-yrs in 2015 onwards
Currently already some of the sellers are holding back as they do not wish to commit to the next house which impose by the SSD
So less and less sellers, but more and more buyers as economy improves, paper money keep being printed, inflation remains high, ...!!! :doh:
They should just remove that 4-yrs 16% SSD! :scared-2:
The 60% LTV is already good enough!Agreed... maybe if unsure, just test market with 2 yr SSD and see how the market respond before removing it totally... :p
Last time when market is good when price keep increasing.. Saturday classified section up to 2-3 pages just for dist. 9/10 alone.. sellers & agent happily selling like advertisement is foc.. see till you blur
Now again market is good.. but not as many ads as before.. mostly is new launch ads
kingkong1984
05-07-11, 21:46
Nope, SSD curb flipping, maybe LTV can be reduced eventually to 85 n 70 percent.
Think KBW will be in trouble by the SSD set by MBT
If remove the SSD.. price will shoot up sooner than later..
If remain the SSD.. price will shoot up later rather than sooner..
devilplate
05-07-11, 21:58
So less and less sellers, but more and more buyers as economy improves, paper money keep being printed, inflation remains high, ...!!! :doh:
They should just remove that 4-yrs 16% SSD! :scared-2:
The 60% LTV is already good enough!
Other den ccr/ocr debate, our thoughts r quite aligned...:cheers1:
Less sellers definitely n resale asking px for ocr is ridiculousyly high.....cm4 make it worse for ppl genuinely looking for homestay:rolleyes:
Now most sellers mentality is: ask 10-20% above valuation....only sell when offer is vy tempting.....i m one of them:ashamed1:
Replacement cost is way too high.....jus collect rental n enjoy low int rate for at least another yr:cheers6:
kingkong1984
05-07-11, 22:02
Yes, think both end, sell take profit but have to hedge against SSD, ask 10 percent each yr and also 16 percent SSD. Should be 40 to 50 percent more from initial price.
And down the line..
1. more transaction now, meaning lesser sellers later
(Nowadays is like.. if a person occupied a seat, you can forget that he will leave the seat soon.. you better move-on & look for another empty seat.. if you are slow again.. is gone again)
2. less sellers and more pent-up demand buyers
3. even sellers were to sell.. those sellers will be asking at a higher price
4. resale will be in demand.. and forcing many buyers to grab it or turn to new launch if no choice
5. developers take the opportunity to increase price giving the resale market follow suit again
Oversuppply of condos in 3 years time? No worries. Only temporary. 26,000 BTO flats will be sold this year to mostly young couples first timers. After 5 years MOP, most of them will be looking to upgrade to condo. These people will form your new demand.
Think about it... ssd was to curb flippers which easily stir the market upside down. However, ssd will also create a scenario where the private resale market will quieten in next few years where many who bought now will be caught by SSD so they will be more unwilling to sell. So what must be done is to ramp up private housing supply over next 4 years to tide through this teething period. :p
Also the 60% LTV was to discourage people from over committing. This measure is more like mother looking after her thoughtless children and warning them against playing with fire. Can eventually do away with proper education. :D
He should cool the market before Singaporeans end up holding inflated assets once foreign $ leaves Singapore. Current situation not good for the country in the long run. My 2cents.
Actually KBW needs to do something on the last property measure set by MBT..
The side effect is on the last policy is.. buyers who bought pty after the last policy in Jan this year will not be selling due to the 4-yrs SSD, whether is new launched or resale.. sooner or later you will realised that sellers will be getting lesser & lesser and at the same time there is a pent up demand of buyers forming up slowly at least up to the next 4-yrs in 2015 onwards
Currently already some of the sellers are holding back as they do not wish to commit to the next house which impose by the SSD
Those owners who bought before CM4 was implemented shall still be willing to sell, and this group shall be much bigger than those who are affected by CM4
In addition, although the SSD under CM4 is for 4 years, the effect start to fade away from the 3rd year onwards
Actually KBW needs to do something on the last property measure set by MBT..
The side effect is on the last policy is.. buyers who bought pty after the last policy in Jan this year will not be selling due to the 4-yrs SSD, whether is new launched or resale.. sooner or later you will realised that sellers will be getting lesser & lesser and at the same time there is a pent up demand of buyers forming up slowly at least up to the next 4-yrs in 2015 onwards
Currently already some of the sellers are holding back as they do not wish to commit to the next house which impose by the SSD
Its a good and logical assessment, but I think it is still too early too make a valid diagnosis.
Before the latest cooling measures, many people were rolling their properties. That is, they were buying and selling close in succession. Basically, they were both the demand and the supply. (I believe many of us here contributed to this volume of transactions)
I don't think there will be a pent-up demand. If you don't sell, chances are you won't buy, so that regulates it somewhat.
Now with flippers/investors forced out of the equation, the way I see it is a more accurate demand for housing (as in a place of abode rather than an investment vehicle).
He should cool the market before Singaporeans end up holding inflated assets once foreign $ leaves Singapore. Current situation not good for the country in the long run. My 2cents.Foreign money will continue to do its rounds in the island so long as economy is good but once economy turns, these money will dissipate and Singaporeans will be left to do damage control... you are right! :D
He should remove the SSD because the truth is the real foreign $ we want to attract has not even entered Singapore! :doh:
He should cool the market before Singaporeans end up holding inflated assets once foreign $ leaves Singapore. Current situation not good for the country in the long run. My 2cents.
He should remove the SSD because the truth is the real foreign $ we want to attract has not even entered Singapore! :doh:SSD has been effective to a certain extend and has met its desired purpose. It's the 60% LTV that is less purposeful... I'd rather this measure be restored back to 80% LTV... :p
devilplate
05-07-11, 23:34
SSD has been effective to a certain extend and has met its desired purpose. It's the 60% LTV that is less purposeful... I'd rather this measure be restored back to 80% LTV... :p
Wow...restore back to 80%? Y so? Its a must for ppl not to overcommit n aso to protect the banks
4yrs ssd is like forcing ppl to hold for 3-4yrs....less resale tx but more new launches....3yrs later high chance GSS! New projects TOP and many wana sell at the same time! Every yr up 10%, 3yrs later 30% more....i tink high enuff for bubble to burst too!:D :D :D
Maybe do SSD linked to LTV. 80% loan, 4Y SSD. 50% loan, 1Y SSD.
Maybe the government's main objective is to attract foreign talent to bolster our economy. So perhaps we can indeed consider restricting PRs from buying HDB flats and encourage them to either commit to become citizens or buy private. They are supposed to be "foreign talent" so rightfully you are either "talented" enough to convert to citizen or rich enough to buy private. Why should we sell our subsidized world class public housing to PRs which in turn cause HDB prices to increase beyond the reach of our own citizens.
But the policy of approving landed for PRs is the right one as many seriously talented or rich foreigners are being invited to become residents by countries all over the world. We need to compete with the world to aggressively attract foreign talent of the highest calibre as their presence will help in job creation, knowledge transfer, scientific discoveries, etc. So if such high calibre PRs were to want to apply for one landed property for their own stay because perhaps they are used to a certain lifestyle, we should probably oblige on a case by case basis for the greater good of the country.
We need to have free market but we also need to have protected ones. We need to protect those that includes basic necessity such as basic roof over heads of citizens (e.g. cheap & basic vanilla HDB flats).
We need to protect raw land and land on very low rise building because they are too precious to be owned by foreigners!
We allow foreigners to buy high-rise condo (those more than 5 storeys high) because we are selling them air space! :D
If land still not enough, en-bloc the 30 storeys condos and build 60 storeys condos! :cheers1:
Otherwise why govt reserve the jobs of taxi drivers for citizens only? Otherwise why control the currency via MAS intervention? :p
Otherwise why reserve landed and landed properties to be owned by citizens only and even PRs must seek special approval? :tsk-tsk:
Otherwise why reserve selling of new HDB flats to citizens only?
All the above are current govt policies and they are all welcome & supported by citizens. However, in recent few years, things have deviated and citizens are angry:
1) so many PRs bidding up resale HDB flats prices when they could have afford private and avoid pushing up resale HDB flats by so much via so high COV.
2) URA approves many PRs to buy landed properties!
3) What DBSS? Trying to HDB flats at super premium? They should be selling plain vanilla but CHEAP HDB flats to citizens who need them!
4) Allow lower-income service sector foreign workers to convert to citizens and fight for the limited supply of new HDB flats!
Maybe the government's main objective is to attract foreign talent to bolster our economy. So perhaps we can indeed consider restricting PRs from buying HDB flats and encourage them to either commit to become citizens or buy private. They are supposed to be "foreign talent" so rightfully you are either "talented" enough to convert to citizen or rich enough to buy private. Why should we sell our subsidized world class public housing to PRs which in turn cause HDB prices to increase beyond the reach of our own citizens.
But the policy of approving landed for PRs is the right one as many seriously talented or rich foreigners are being invited to become residents by countries all over the world. We need to compete with the world to aggressively attract foreign talent of the highest calibre as their presence will help in job creation, knowledge transfer, scientific discoveries, etc. So if such high calibre PRs were to want to apply for one landed property for their own stay because perhaps they are used to a certain lifestyle, we should probably oblige on a case by case basis for the greater good of the country.
Problem is there are lot of middle and junior managment PRs who can afford only HDBs.. and you cant have the Senior Mgt people without these junior and middle mgt..
Also you will creating enclave of PRs living in Private ppt and SGians in HDBs..
Bad bad...both politically and socially..:tsk-tsk:
For those who want cheap price HDB yet next to MRT next to Shopping mall, next to parents home. The solution is build tall tall 40-50 storey MM HDB flats in these prime places. :rolleyes:
New 4 room MM size 750sqft
New 5 room MM size 950sqft
Do away with bomb shelter in the house, it will be the stairs like in some condo. Make void decks as rentable store rooms for those who need extra space to store their stuffs.
:D
Wow...restore back to 80%? Y so? Its a must for ppl not to overcommit n aso to protect the banks
4yrs ssd is like forcing ppl to hold for 3-4yrs....less resale tx but more new launches....3yrs later high chance GSS! New projects TOP and many wana sell at the same time! Every yr up 10%, 3yrs later 30% more....i tink high enuff for bubble to burst too!:D :D :DHahaha.... was saying if given a choice of which measure to remove, I'd rather the 60% LTV be restored and not the 4yr SSD. the LTV guard against overcommittment can be educated and people must learn. Govt should not be a mother who keeps warning that child not to play with fire. What better way of learning than to get burn a bit. Sure remember for life. And since the SSD had been pretty effective in eliminating flippers which are far more :scared-1: in our volatile housing economy, I'd rather let it stay... otherwise, home prices will climb much faster than it is already climbing today. :spliff:
Maybe do SSD linked to LTV. 80% loan, 4Y SSD. 50% loan, 1Y SSD.Worth considering! :D
Worth considering! :D
All it needs is a few guys pool their money and the flipping continues.
All it needs is a few guys pool their money and the flipping continues.Yes so if two people pull resources, the number of flippers is halved. This is relatively significant. So its still cutting down by at least 50%... :o You are already planning? :D
devilplate
06-07-11, 07:59
Hahaha.... was saying if given a choice of which measure to remove, I'd rather the 60% LTV be restored and not the 4yr SSD. the LTV guard against overcommittment can be educated and people must learn. Govt should not be a mother who keeps warning that child not to play with fire. What better way of learning than to get burn a bit. Sure remember for life. And since the SSD had been pretty effective in eliminating flippers which are far more :scared-1: in our volatile housing economy, I'd rather let it stay... otherwise, home prices will climb much faster than it is already climbing today. :spliff:
Main idea is to trap as much liquidity as possible.... Especially foreigner money
proud owner
06-07-11, 08:25
Main idea is to trap as much liquidity as possible.... Especially foreigner money
correct ..
but i feel the existing measures ..somehow trap ourselves instead..with the foreign money not willing to come in ...
how to trap them ..when they are reluctant now ?
Yes so if two people pull resources, the number of flippers is halved. This is relatively significant. So its still cutting down by at least 50%... :o You are already planning? :D
I think there's quite a bit of pent up demand. If they just need to put 20% down, and have shorter lock in period, then we'll be off to the races again.
For those who want cheap price HDB yet next to MRT next to Shopping mall, next to parents home. The solution is build tall tall 40-50 storey MM HDB flats in these prime places. :rolleyes:
New 4 room MM size 750sqft
New 5 room MM size 950sqft
Do away with bomb shelter in the house, it will be the stairs like in some condo. Make void decks as rentable store rooms for those who need extra space to store their stuffs.
:D
ya no need bomb shelter more important is BUBBLE shelter...when bubble burst all can go inside and Chill................:scared-1:
Oversuppply of condos in 3 years time? No worries. Only temporary. 26,000 BTO flats will be sold this year to mostly young couples first timers. After 5 years MOP, most of them will be looking to upgrade to condo. These people will form your new demand.
makes sense...:rolleyes:
And it is already back-firing. Think what happened to Malaysia after their capital control? And they try something which is in a way similar? :banghead:
Main idea is to trap as much liquidity as possible.... Especially foreigner money
devilplate
06-07-11, 09:58
And it is already back-firing. Think what happened to Malaysia after their capital control? And they try something which is in a way similar? :banghead:
is capital gain tax of let say 20% a better solution to replace current 4yrs ssd? or not at all? hehe
anyway, govt got no excuse to abolish 4yrs ssd now.....govt cant anyhow set n den remove measures....very inconsistent
Oversuppply of condos in 3 years time? No worries. Only temporary. 26,000 BTO flats will be sold this year to mostly young couples first timers. After 5 years MOP, most of them will be looking to upgrade to condo. These people will form your new demand.
who will be the purchaser of these 26,000 flats?
The best way is to remove all these measures to entice foreign money than when the money in pumped in, introduce new rules to slow down the exit of these funds... hee! Just don't disturb Singaporeans when implementing these things.... Let Singaporeans benefit from all these foreign fund injections instead of the other way round which is somewhat the current situation where foreigners are benefiting at the expense of Singaporeans... :doh:
devilplate
06-07-11, 10:06
The best way is to remove all these measures to entice foreign money than when the money in pumped in, introduce new rules to slow down the exit of these funds... hee! Just don't disturb Singaporeans when implementing these things.... Let Singaporeans benefit from all these foreign fund injections instead of the other way round which is somewhat the current situation where foreigners are benefiting at the expense of Singaporeans... :doh:
wow...u r gd at tcss....hehe:p
The best way is to remove all these measures to entice foreign money than when the money in pumped in, introduce new rules to slow down the exit of these funds... hee! Just don't disturb Singaporeans when implementing these things.... Let Singaporeans benefit from all these foreign fund injections instead of the other way round which is somewhat the current situation where foreigners are benefiting at the expense of Singaporeans... :doh:
yup, I absolutely agree with your proposal.
When they exit Singapore, they have to pay exit tax of 100%. This measure is to ensure that they cannot withdraw their funds.
Not only that, Singapore's medical system is excellent. Foreigners have to pay multi-million bills for their medical treatment here. Thumbs up to that lady doctor for leading the way. Use that multi-million bills to subsidise the poor Singaporeans.
I am 100% confident the whole world owns Singaporeans a living.
Let's keep the fine print to ourselves.
Draw up contract and using lemon juice ink specifically for sensitive fine prints. *invisible ink*
If I was KBW, I would make it mandatory that no financing from banks is allowed when you purchase the 2nd and 3rd property.
One is enough. buying more than that makes you a speculator. also SSD of 16% for 10 years should be written into the constitution.
Excellent suggestion. I also 100% agree.
furthermore, in order to prevent speculation in stock market, which leads to bubbles and crashes, the relevant authorities better impose a minimum holding period of 10 years and impose SSD (not capital gains tax) of 100% within 1 year, reduce progressively to 0% at year 10. Everybody hold shares like mr buffet, buy and hold.
CPF also cannot be used to buy shares or any other financial instruments.
Reduce speculation = reduce bubbles = reduce crashes. Bad bad speculators. Need to be whacked.
devilplate
06-07-11, 10:45
Excellent suggestion. I also 100% agree.
furthermore, in order to prevent speculation in stock market, which leads to bubbles and crashes, the relevant authorities better impose a minimum holding period of 10 years and impose SSD (not capital gains tax) of 100% within 1 year, reduce progressively to 0% at year 10. Everybody hold shares like mr buffet, buy and hold.
CPF also cannot be used to buy shares or any other financial instruments.
Reduce speculation = reduce bubbles = reduce crashes. Bad bad speculators. Need to be whacked.
CPF cannot be withdrawn at all! not even at 55yo....haha...take out liao all speculate speculate...bad bad
watever income u earn must set aside 50% and contribute to ur CPF too! save up retirement nest and dun speculate....
zero loan for 2nd ppty and can only be bought and cannot be SOLD....whole life investment....no bubbles:D
Following the same line of thoughts, Govt should just close down SGX and especially SIMEX! What FUTURES? What OPTIONS? What FOREX? Are these all used by speculators and foreigners to speculate? Why allow our sillyporeans to play all these things and get themselves burnt and then have to complain and ask for handouts from Govt, else they say "I will vote for OPPOSITION!"? :p
Bring this further, Govt should just shut down the mother of all speculations - the 2 casinos in Singapore! So many people broke and families broken because of them sooner or later right? :tongue3:
Excellent suggestion. I also 100% agree.
furthermore, in order to prevent speculation in stock market, which leads to bubbles and crashes, the relevant authorities better impose a minimum holding period of 10 years and impose SSD (not capital gains tax) of 100% within 1 year, reduce progressively to 0% at year 10. Everybody hold shares like mr buffet, buy and hold.
CPF also cannot be used to buy shares or any other financial instruments.
Reduce speculation = reduce bubbles = reduce crashes. Bad bad speculators. Need to be whacked.
Originally Posted by stalingrad
If I was KBW, I would make it mandatory that no financing from banks is allowed when you purchase the 2nd and 3rd property.
One is enough. buying more than that makes you a speculator. also SSD of 16% for 10 years should be written into the constitution.
yup, I absolutely agree with your proposal.
When they exit Singapore, they have to pay exit tax of 100%. This measure is to ensure that they cannot withdraw their funds.
Not only that, Singapore's medical system is excellent. Foreigners have to pay multi-million bills for their medical treatment here. Thumbs up to that lady doctor for leading the way. Use that multi-million bills to subsidise the poor Singaporeans.
I am 100% confident the whole world owns Singaporeans a living.
How did e bills end up subsidising Singaporeans? Do u know tt e Ministers' pay r pegged to top paying professionals n she cld b one of e bench marks? Singaporeans end up subsidising pay of doctors n Ministers.
devilplate
06-07-11, 10:52
How did e bills end up subsidising Singaporeans? Do u know tt e Ministers' pay r pegged to top paying professionals n she cld b one of e bench marks? Singaporeans end up subsidising pay of doctors n Ministers.
u really innocent or act one?
he jus trying to be funny and sarcastic lah
dun forget hopeful is a foreigner from indo......he must be angry after reading anti foreigners comments....lol
If I am Govt, I take 1 step further since all you Sillyporeans can't manage your money! I will:
1) 80% of all your salaries & bonuses must be paid into specially created "Central Personal Trust Fund" (CPTF).
2) If you can't survive on 20% of your salaries, you have to file for additional disimbursement from CPTF, with evidence that you need such withdrawals.
3) All money for buying properties with CASH must be applied to CPTF.
4) CPTF helps you to buy necessary insurance and pay out the premiums to ensure you will never become a burden to the nation and the tax payers!
CPTF slogan: "We help to manage your money from young till you die so you have no worries!" :p
CPF cannot be withdrawn at all! not even at 55yo....haha...take out liao all speculate speculate...bad bad
watever income u earn must set aside 50% and contribute to ur CPF too! save up retirement nest and dun speculate....
zero loan for 2nd ppty and can only be bought and cannot be SOLD....whole life investment....no bubbles:D
wow...u r gd at tcss....hehe:ptcss is foc mah... talk only mah... of course good and easy lah... :p
devilplate
06-07-11, 11:07
correct ..
but i feel the existing measures ..somehow trap ourselves instead..with the foreign money not willing to come in ...
how to trap them ..when they are reluctant now ?
govt aso wana tighten hot monies inflow at the same time mah
some argue govt shdnt babysit this n tat.....well....all these cooling measures not considered as babysitting? hehe...:rolleyes:
y set 60% ltv? babysitting oredi rite? y set 4yrs ssd? babysit again.....
u really innocent or act one?
he jus trying to be funny and sarcastic lah
dun forget hopeful is a foreigner from indo......he must be angry after reading anti foreigners comments....lol
I dun track nationality or race here. Using my HP to surf on n off, so may not b following his/her point here so well...
u really innocent or act one?
he jus trying to be funny and sarcastic lah
dun forget hopeful is a foreigner from indo......he must be angry after reading anti foreigners comments....lol
not angry :)
as they say, if cannot beat them, join them.
Let's drive those foreigners away,
They take away our women.
They take away our jobs.
They take away our homes.
Down with foreigners.
The only good foreigner is a screwed foreigner. China mei meis still welcome :)
devilplate
06-07-11, 11:24
not angry :)
as they say, if cannot beat them, join them.
Let's drive those foreigners away,
They take away our women.
They take away our jobs.
They take away our homes.
Down with foreigners.
The only good foreigner is a screwed foreigner. China mei meis still welcome :)
u will nvr join us lor:p
u will nvr join us lor:p
can what, worse come to worse, sell backside in singapore. my orifices still virgin :ashamed1:. But not sure got value or not to the gays :beats-me-man:.
So i am definitely a screwable foreigner :D.
So Can still join you all in Singapore la.
devilplate
06-07-11, 11:29
can what, worse come to worse, sell backside in singapore. my orifices still virgin :ashamed1:. But not sure got value or not to the gays :beats-me-man:.
So i am definitely a screwable foreigner :D.
So Can still join you all in Singapore la.
i mean u will not take up SG citizenship even u r given a chance....unless Sg allows dual citizenship
i mean u will not take up SG citizenship even u r given a chance....unless Sg allows dual citizenship
If offer SG citizenship to me for free, meaning no need to pay bond like $1million, I will take SG citizenship without a second thought.
new BTO and Landed property here I come :D.
Majulah Singapura.
devilplate
06-07-11, 11:40
If offer SG citizenship to me for free, meaning no need to pay bond like $1million, I will take SG citizenship without a second thought.
new BTO and Landed property here I come :D.
Majulah Singapura.
hmmm.....
but many sillyporeans wana migrate instead wor...:rolleyes:
Oversuppply of condos in 3 years time? No worries. Only temporary. 26,000 BTO flats will be sold this year to mostly young couples first timers. After 5 years MOP, most of them will be looking to upgrade to condo. These people will form your new demand.
And not forgetting the number of enbloc this year (is quite HOT now) will soon form another group to compete in the resale market in a year or so
hmmm.....
but many sillyporeans wana migrate instead wor...:rolleyes:
do you know how to contact them? Want to trade passports? i will top up my passport so that indonesian passport + cash top up = singapore passport value. Black market rate should be thereabouts $20k
I never knew how much fun it is to bash foreigners. No need to use brains at all. :D
devilplate
06-07-11, 12:07
And not forgetting the number of enbloc this year (is quite HOT now) will soon form another group to compete in the resale market in a year or so
Recent all small small deals leh....enbloc not as hot as 06-07 yet lor
Recent all small small deals leh....enbloc not as hot as 06-07 yet lorDevelopers still trying to clear their stocks from the last financial crisis. En bloc fever will heat up again in the coming years... :D
Main idea is to trap as much liquidity as possible....
actually for the 60% LTV thing, if for new sales it also requires buyers to put down 40% immediately, I think the demand fever will be cooled substantially.
Right now it's so obvious, all the activities are in new sales. Resale volume is close to 0. New sale has the volume simply because ppl think there are 1.5 yrs to save. As a result developer continues to price their projects higher.
Last time both new sale and resale had 20% upfront. The scheme was equal. Now, the CM4 puts an extreme positive bias on new sales. It's almost as if MBT was "helping" the developers.
actually for the 60% LTV thing, if for new sales it also requires buyers to put down 40% immediately, I think the demand fever will be substantially cooled.
Right now it's so obvious, all the activities are in new sales. Resale volume is close to 0. New sale has the volume simply because ppl think there are 1.5 yrs to save. As a result developer continues to price their projects higher.
Last time both new sale and resale had 20% upfront. The scheme was equal. Now, the CM4 puts an extreme positive bias on new sales. It's almost as if MBT was "helping" the developers.Very true.. that's why now kbw invited those developers to drink kopi to devise a plan to reclaim this lucrative business! :D Must channel abit of business into the resale market too! Must come down hard on the developers! :p
actually for the 60% LTV thing, if for new sales it also requires buyers to put down 40% immediately, I think the demand fever will be cooled substantially.
Right now it's so obvious, all the activities are in new sales. Resale volume is close to 0. New sale has the volume simply because ppl think there are 1.5 yrs to save. As a result developer continues to price their projects higher.
Last time both new sale and resale had 20% upfront. The scheme was equal. Now, the CM4 puts an extreme positive bias on new sales. It's almost as if MBT was "helping" the developers.
did anybody predicted this ?
This thread very active when CM4 was announced. http://forums.condosingapore.com/showthread.php?t=10602
anybody want to claim credit for their foresight?
devilplate
06-07-11, 13:53
actually for the 60% LTV thing, if for new sales it also requires buyers to put down 40% immediately, I think the demand fever will be cooled substantially.
Right now it's so obvious, all the activities are in new sales. Resale volume is close to 0. New sale has the volume simply because ppl think there are 1.5 yrs to save. As a result developer continues to price their projects higher.
Last time both new sale and resale had 20% upfront. The scheme was equal. Now, the CM4 puts an extreme positive bias on new sales. It's almost as if MBT was "helping" the developers.
Wif 4yrs ssd, buyers aso cant flip before nxt 20% kick in....
I dun believe ppl still dare to commit now n try to save the nxt 20% lor.... Tats y mm become more popular due to 60% ltv
As for me, wif this 4yrs ssd i wud prefer to buy resale n collect rental asap if i were to invest now since new launches dun allow me to flip anymore...
If really want to make buyer pay 40% right away, govt shd only allow developer to sell when construction met the required progressive stage
As for y new launches r more popular now, resale asking px is calling for the sky n not much cheaper den new launches..... For eg, seastrand or 8cy, i tink resale or subsale r not much cheaper
devilplate
06-07-11, 14:03
Very true.. that's why now kbw invited those developers to drink kopi to devise a plan to reclaim this lucrative business! :D Must channel abit of business into the resale market too! Must come down hard on the developers! :p
All thes tok abt resale market not moving not true la.... Y not u try selling ur unit now at market valuation now.... Cfm got takers.... :tongue3:
All thes tok abt resale market not moving not true la.... Y not u try selling ur unit now at market valuation now.... Cfm got takers.... :tongue3:Hahaha! Just a gut feeling. There appear to be significantly more movement in the new launches than the resale! Then again I don't have hard figures to substantiate my feeling... :p
devilplate
06-07-11, 15:22
Hahaha! Just a gut feeling. There appear to be significantly more movement in the new launches than the resale! Then again I don't have hard figures to substantiate my feeling... :p
Tink bck, i bot from developers most of the time too prior to cm4 in a rising market....i will look at resale/subsale market during a downturn....Seasoned investor like bullman also bot many units from developers....
So new launches always got more movement den resale one la....
Furthermore, if u buy from big developer like feo, u r actually 99% safe n secured tat feo will not drop their px....whereas if u buy from resale market, u r constantly worried tat a joker might sell his unit cheaply
Tink bck, i bot from developers most of the time too prior to cm4 in a rising market....i will look at resale/subsale market during a downturn....Seasoned investor like bullman also bot many units from developers....
So new launches always got more movement den resale one la....
Furthermore, if u buy from big developer like feo, u r actually 99% safe n secured tat feo will not drop their px....whereas if u buy from resale market, u r constantly worried tat a joker might sell his unit cheaplyNever think of it this way but it certainly make sense... feo is branded stuff, like you buy gucci for the brand instead of some other unheard of brand. :o Good point! :D
Recent all small small deals leh....enbloc not as hot as 06-07 yet lor
But it seems like getting hotter & hotter.. esp recently FEO is getting more & more hungry for land, quite aggressive, every where also interested.. even send out flyers asking whether potential development wish to enbloc
devilplate
06-07-11, 15:51
But it seems like getting hotter & hotter.. esp recently FEO is getting more & more hungry for land, quite aggressive, every where also interested.. even flyers asking whether potential development wish to enbloc
Yes....feo aso advertise on the papers looking for enbloc. But so far feo only bot freehold enbloc rite? They take this opportuntune time to buy freehold land to keep....99lh land cheaper n faster to buy from govt
Tat tulip garden y feo not keen? Hmmm:rolleyes:
Yes....feo aso advertise on the papers looking for enbloc. But so far feo only bot freehold enbloc rite? They take this opportuntune time to buy freehold land to keep....99lh land cheaper n faster to buy from govt
Tat tulip garden y feo not keen? Hmmm:rolleyes:
Currently I tink bigger plot now will be Laguna.. if go thru.. hosei liao!!
Maybe soon will be Pandan Valley.. super big land
who will be the purchaser of these 26,000 flats?
Other Singaporeans who are looking to upgrade from 3 room to 4 room, 5 room etc. Newly married couples, PRs. And those still waiting for pte pty prices to fall, hahaha...:D
But it seems like getting hotter & hotter.. esp recently FEO is getting more & more hungry for land, quite aggressive, every where also interested.. even send out flyers asking whether potential development wish to enblocFEO is indeed cash rich and resourceful. They put in the personal touch to make you feel different. Even advertising for their project, other developer just send flier into your mailbox but FEO will send you envelope with your name, enclosing the advertisement flier. This needs extra manpower... Its really the brand that comes along with service! :D
Other Singaporeans who are looking to upgrade from 3 room to 4 room, 5 room etc. Newly married couples, PRs. And those still waiting for pte pty prices to fall, hahaha...:DUnlikely property prices will fall significantly. There are definitely less success story about people who sell their homes high and wait till prices fall to grab again than those who miss the boat! :scared-3:
tangomarine
10-07-11, 10:49
if i were him, i would increase income ceiling of hdb and ec,
to control price of hdb, build more hdbs and launch them at cheap prices...
to control price of private properties, build more ec... and at good locations
imagine u have one ec beside a meyer/amber road condo, will it bring down the prices? definitely, but of cos, it also reduces the govt coffers from the land sales..
so it all boils down to simple demand and supply. can govt control the housing prices, yes, but do they want to do it... maybe not. :(
Jonathan0503
10-07-11, 11:54
if i were him, i would increase income ceiling of hdb and ec,
to control price of hdb, build more hdbs and launch them at cheap prices...
to control price of private properties, build more ec... and at good locations
imagine u have one ec beside a meyer/amber road condo, will it bring down the prices? definitely, but of cos, it also reduces the govt coffers from the land sales..
so it all boils down to simple demand and supply. can govt control the housing prices, yes, but do they want to do it... maybe not. :(
Meyer/Amber there all FH.
Can they build EC there?
devilplate
10-07-11, 11:56
if i were him, i would increase income ceiling of hdb and ec,
to control price of hdb, build more hdbs and launch them at cheap prices...
to control price of private properties, build more ec... and at good locations
imagine u have one ec beside a meyer/amber road condo, will it bring down the prices? definitely, but of cos, it also reduces the govt coffers from the land sales..
so it all boils down to simple demand and supply. can govt control the housing prices, yes, but do they want to do it... maybe not. :(
Luckily u r not him...hahaha
His job is to reduce the rate of increase n at the same time not to cause a price correction
Build hdb and ec in orchard la....better still, build worker domitories, hdb rental flats in orchard...rich or poor aso can get a chance to stay in orchard mah....reduce rich poor discrimination mah....orchard condos sure crash to 1kpsf and other locations will drop together coz orchard goto be remain as the most expensive condo in sg rite! Whahahahaha
tangomarine
10-07-11, 13:18
meyer, amber all FH?!? then how about tanjong rhu... most r 99 yrs..
i think we need to ask if the majority of singaporeans are looking forward toward a price correction, or a gradual increase... for those young ones who see their dream of having a their dream condo creeping away, surely a moderate price increase will not help them.. wat they need is a drastic price correctn... of cos, for those who owned private props now, they will be looking for a more gradual increase so that their values will increase along.
linchong84
10-07-11, 13:23
meyer, amber all FH?!? then how about tanjong rhu... most r 99 yrs..
i think we need to ask if the majority of singaporeans are looking forward toward a price correction, or a gradual increase... for those young ones who see their dream of having a their dream condo creeping away, surely a moderate price increase will not help them.. wat they need is a drastic price correctn... of cos, for those who owned private props now, they will be looking for a more gradual increase so that their values will increase along.
You talk about this kind of things in a forum full of existing owners/investors, you are bound to get whacked.. But if you mention this to a forum full of aspiring property owners-to-be, then everybody will clap hands.. No right no wrong, it's all about self-interest.. No policy can make everyone happy..
devilplate
10-07-11, 13:39
meyer, amber all FH?!? then how about tanjong rhu... most r 99 yrs..
i think we need to ask if the majority of singaporeans are looking forward toward a price correction, or a gradual increase... for those young ones who see their dream of having a their dream condo creeping away, surely a moderate price increase will not help them.. wat they need is a drastic price correctn... of cos, for those who owned private props now, they will be looking for a more gradual increase so that their values will increase along.
U still wana buy if sg govt happy happy implement drastic measure to crash the ppty market anytime they want?
After u bot ur ppty, u aso want ur ppty px to go up wat.....:tongue3:
How about you tell us how many already own properties vs those waiting to buy Then we will know? :beats-me-man:
meyer, amber all FH?!? then how about tanjong rhu... most r 99 yrs..
i think we need to ask if the majority of singaporeans are looking forward toward a price correction, or a gradual increase... for those young ones who see their dream of having a their dream condo creeping away, surely a moderate price increase will not help them.. wat they need is a drastic price correctn... of cos, for those who owned private props now, they will be looking for a more gradual increase so that their values will increase along.
Public anxious about Minister Khaw’s next steps: poll
By i_property | Property Blog (http://sg.news.yahoo.com/blogs/property-blog/) – Fri, Jul 8, 2011
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http://l.yimg.com/bt/api/res/1.2/j8z17pk34WwDpljeNGk7yA--/YXBwaWQ9eW5ld3M7cT04NTt3PTMxMA--/http://media.zenfs.com/en-SG/blogs/propertyblog/poll2-1.jpg (http://media.zenfs.com/en-SG/blogs/propertyblog/poll2-1.jpg) Public pins dreams of property ownership on new Minister for National Development. (iProperty.com)
What would you like Khaw Boon Wan's first act as the new Minister for National Development to be?
iProperty.com.sg (http://www.iproperty.com.sg/)'s recent Quick Poll in June revealed that the market is anxious and hopeful that the new Minister for National Development, Minister Khaw Boon Wan, will help them fulfill dreams of owning an affordable property in Singapore.
Key findings from the survey revealed that:
Most survey respondents (49.8 percent) hope the Ministry will embark on a building spree to flood the market with affordable housing, thereby slowing the rise in property prices even if this means dampening asset enhancement for current homeowners.
A large percentage (39.7 percent) of survey respondents wish the Ministry will introduce means testing to determine the amount of subsidy potential home buyers can receive. This way, lower-income families will be more likely to afford housing.
A small handful (10.5 percent) of those surveyed is supportive of additional government-initiated policies that will further increase the value of properties to ensure homeowners' current assets will be enhanced.A total of 315 respondents comprising mostly Singaporeans, permanent residents (PRs) and expatriates took part in this online survey from 24 May to 27 June 2011.
Demand for residential housing remains high despite Minister Khaw's promise (http://blog.iproperty.com.sg/minister-khaw-boon-wan-back-to-housing-basics/) to build a record 25,000 new flats this year and continue a heightened building pace for next year, which could result in the release of 50,000 new HDB flats in just two years.
However, with Minister Khaw still yet to unveil his master plan to quell the local red-hot demand for housing property, Shaun Di Gregorio, chief executive officer of the iProperty.com Group (http://www.iproperty.com/), expects more anxiety to build-up until a new plan is announced.
"The current set of cooling measures so far had some impact on the local housing property market, but the measures are not entirely taking effect. With home prices at an all-time-high at the moment, we can see that many home buyers are just focused on being able to find affordable homes, and this will remain a key concern for them until the Housing Development Board (HDB) (http://www.iproperty.com.sg/hdb/) makes up for the shortfall in the supply of affordable public housing for this group of buyers in the coming years," he said.
He added, "The recent news announced over the weekend that the average cash over valuation (COV) paid by home buyers in the April to June period had jumped 50 percent (http://blog.iproperty.com.sg/hdb-resale-flat-cov-prices-going-up-up-and-up/) over the last quarter is yet another sign that the last round of cooling measures and Minister Khaw's recent blog comments had only dampened the supply while demand remains high and there are buyers who would continue to pay top dollar for HDB homes in popular mature estates."
meyer, amber all FH?!? then how about tanjong rhu... most r 99 yrs..
i think we need to ask if the majority of singaporeans are looking forward toward a price correction, or a gradual increase... for those young ones who see their dream of having a their dream condo creeping away, surely a moderate price increase will not help them.. wat they need is a drastic price correctn... of cos, for those who owned private props now, they will be looking for a more gradual increase so that their values will increase along.They logical way to go is for govt to sustain price appreciation at a slower rate and at the same time provide help for these condo aspiring couples achieve their dream through very well thought policies and aids via public housing price appreciation too. :spliff:
Yes....feo aso advertise on the papers looking for enbloc. But so far feo only bot freehold enbloc rite? They take this opportuntune time to buy freehold land to keep....99lh land cheaper n faster to buy from govt
Tat tulip garden y feo not keen? Hmmm:rolleyes:
ya i saw the ad i call feo ask them come buy my elias green enbloc they told me wait long long....:doh: :doh: :doh:
devilplate
10-07-11, 15:27
ya i saw the ad i call feo ask them come buy my elias green enbloc they told me wait long long....:doh: :doh: :doh:
R u serious? U really call them ar?
They r vy selective, i noe got old row of townhse trying to get them enbloc but aso told to wait longx10 lol
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