View Full Version : Property measures: Why industry players were not consulted
Gahmen never consult for CMs...., & they will never...REDAS can shut down.., toothless:doh:
http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_743008.html
Property measures: Why industry players were not consulted
The National Development Ministry (MND) has responded to criticism from the main real estate developers body about the lack of consultation with industry players over the measures, explaining they were market-sensitive.
The ministry told The Straits Times on Thursday that 'it is not possible for the Government to conduct direct consultations with industry players before implementing demand measures as these are market-sensitive'.
But the Government monitors the market closely and has regular dialogues with various stakeholders in the property market, a spokesman said.
These include developers, property consultants, market analysts and real estate agents. The input from these discussions is factored into its policy formulation, he added...
Consult them only to let them lobby for a more business friendly outcome? I think they did the right thing, so that it levels to playing field between developers and home buyers, because there might always be this element of surprise. In terms of the measure, I'm a little mixed as to whether it addresses the root problem or its more of a symptomatic treatment.
Why REDAS complain?
minor stuff like ABSD no need consultation.
Only Major stuff like accurate representation of showflat etc then need months of consultation, till no news yet. :rolleyes:.
URA, MND know their priorities ok.
devilplate
09-12-11, 08:04
this measures slams singkies more den protecting and protect foreigners .....hahahaha
wat we want is pricing and brochure avail b4 launch, real actual showflat size without alteration, no big ac ledge etc....
this measures slams singkies more den protecting and protect foreigners .....hahahaha
wat we want is pricing and brochure avail b4 launch, real actual showflat size without alteration, no big ac ledge etc....
Honey, I shrunk the built in and upsize the Aircon ledges and balconies.
Honey, I shrunk the built in and upsize the Aircon ledges and balconies. Aircon ledges shld not be part of GFA but regulated by another set of construction code. In this way, developers will be forced to optimise the design and space.:doh:
thomastansb
09-12-11, 09:15
Why should the Government consult them? The chief of Redas is CEO of SC global. They will be working towards their self interest only.
Gahmen never consult for CMs...., & they will never...REDAS can shut down.., toothless:doh:
http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_743008.html
Property measures: Why industry players were not consulted
The National Development Ministry (MND) has responded to criticism from the main real estate developers body about the lack of consultation with industry players over the measures, explaining they were market-sensitive.
The ministry told The Straits Times on Thursday that 'it is not possible for the Government to conduct direct consultations with industry players before implementing demand measures as these are market-sensitive'.
But the Government monitors the market closely and has regular dialogues with various stakeholders in the property market, a spokesman said.
These include developers, property consultants, market analysts and real estate agents. The input from these discussions is factored into its policy formulation, he added...
these associations are just business lobbyists. Govt shld never bow to them, otherwise there is a conflict of public interest.
these associations are just business lobbyists. Govt shld never bow to them, otherwise there is a conflict of public interest.
Hear hear...
I heard a REDAS dinner is coming up and the usual VVIP invite is you know who. Talk about awkard silence.:D
I heard a REDAS dinner is coming up and the usual VVIP invite is you know who. Talk about awkard silence.:D
Talk about anything except property measures.. heh.
I heard a REDAS dinner is coming up and the usual VVIP invite is you know who. Talk about awkard silence.:D
Now there's a real piece of irony. :doh:
I heard a REDAS dinner is coming up and the usual VVIP invite is you know who. Talk about awkard silence.:DNo show maybe? Hahaha... no silence lah... reporters will be present to interview VVIP and REDAS rep and stage a debate with the following motion: Govt should consult REDAS for all housing related matters. :o
How come only consult Redas? Must ask the people, and they'll ask for $200k 5 room HDB flat.
devilplate
09-12-11, 11:05
How come only consult Redas? Must ask the people, and they'll ask for $200k 5 room HDB flat.
whahahaha
actually govt no nid to consult redas at all.....
i tink mabe this latest CM tharman also nvr consult KBW? who knows? whahahaha
Have lah, they saw a tsunami of funds coming in so they build huge flood walls around the residential property sector.
devilplate
09-12-11, 11:23
Have lah, they saw a tsunami of funds coming in so they build huge flood walls around the residential property sector.
??? y u so sure tharman consulted KBW?
KBW really know how to keep his distance away from the big wigs of redas.
thank you for your lunch...but I am not sucker.
https://fbcdn-sphotos-a.akamaihd.net/hphotos-ak-ash4/294326_273129986048398_219848181376579_1045546_603530428_n.jpg
somehow it makes me wonder if during MBT time, MND have always consult REDAS before implementing these cooling measures?
devilplate
09-12-11, 12:43
somehow it makes me wonder if during MBT time, MND have always consult REDAS before implementing these cooling measures?
tis time round MAS not MND la
wah the shape like bukit brown, more land coming.
??? y u so sure tharman consulted KBW?
Have lah. It's my pure guess but for something so sensitive. I cannot imagine no word was shared.
tis time round MAS not MND la
Source please.
Gahmen never consult for CMs...., & they will never...REDAS can shut down.., toothless:doh:
http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_743008.html
Property measures: Why industry players were not consulted
The National Development Ministry (MND) has responded to criticism from the main real estate developers body about the lack of consultation with industry players over the measures, explaining they were market-sensitive.
The ministry told The Straits Times on Thursday that 'it is not possible for the Government to conduct direct consultations with industry players before implementing demand measures as these are market-sensitive'.
But the Government monitors the market closely and has regular dialogues with various stakeholders in the property market, a spokesman said.
These include developers, property consultants, market analysts and real estate agents. The input from these discussions is factored into its policy formulation, he added...
maybe govt also reading our forum...:scared-1::D:rolleyes:
Why REDAS complain?
minor stuff like ABSD no need consultation.
Only Major stuff like accurate representation of showflat etc then need months of consultation, till no news yet. :rolleyes:.
URA, MND know their priorities ok.
I think that's the obvious reason. That's months. By then already past schedule.
how to get them to come up with implementation. Working speed still same old typical slow mo yet can kpkb and keep their job:doh:
Have lah. It's my pure guess but for something so sensitive. I cannot imagine no word was shared.
yeah they can tell you but thenthey have to kill you :cheers4:
in the past MBT always consult industry players lor...then see what happened? in the end got voted out.
now they consult HDB dwellers, who make up 80% of the population -- these are the 'real' players who will ensure KBW can keep his job.
Geylang OKT
10-12-11, 21:16
Actually very good. More gahmen intervention to bring down crazy sky high prices in the super red hot but totally unsustainable property sector very welcome! :D
devilplate
10-12-11, 21:21
Actually very good. More gahmen intervention to bring down crazy sky high prices in the super red hot but totally unsustainable property sector very welcome! :D
U tink govt want to see how many % drop in px?
Geylang OKT
10-12-11, 21:27
U tink govt want to see how many % drop in px?
At least a minimum of 30% to win back some votes :D :D :D
Govt doesnt want hot money to crash the property market and land price. The latter is more important, and the government actually wants it to grow at a more steady pace like say 2-3% per year.
Geylang OKT
10-12-11, 21:29
kill off the foreigner demand and our local property prices will become more realistic (read as a whole lot more cheaper) ;)
kill off the foreigner demand and our local property prices will become more realistic (read as a whole lot more cheaper) ;)
Not necessary. OCR condos r driven up by higher HDB prices. Foreigners constituted abt 20%. This measures puts a cap on developers' confidence n bullish in pushing higher psf launch. No Minister will dare to kill govt's cash cow.
Geylang OKT
10-12-11, 21:47
Not necessary. OCR condos r driven up by higher HDB prices. Foreigners constituted abt 20%. This measures puts a cap on developers' confidence n bullish in pushing higher psf launch. No Minister will dare to kill govt's cash cow.
Govt is answering to a calling of a higher order. If they are seen to do nothing to suppress the ridiculous pricings now oft seen and heard, they would surely be booted out when the next elections are due. :banghead:
So to engineer the property prices now to start plummeting is in fact a step in the right direction for them :D
when they compress the spring, they need to release it carefully, if anyhow release, the spring may end up flying all over with unintended consequences.
devilplate
10-12-11, 22:01
Govt is answering to a calling of a higher order. If they are seen to do nothing to suppress the ridiculous pricings now oft seen and heard, they would surely be booted out when the next elections are due. :banghead:
So to engineer the property prices now to start plummeting is in fact a step in the right direction for them :D
Hmmm...i wonder how those who voted for opp and also holding multiple ppty feel now....hehehe
Hmmm...i wonder how those who voted for opp and also holding multiple ppty feel now....hehehe
Whatever gov do, sure ken a blame this and that lah
More like that plan may back-fired? What happen if the new CM causes property prices to crash and with foreigners repatriating their money overseas and deep recession in Singapore? End up they really get booted out for implementing super lousy and flawed policy compared to doing nothing? :doh:
Govt is answering to a calling of a higher order. If they are seen to do nothing to suppress the ridiculous pricings now oft seen and heard, they would surely be booted out when the next elections are due. :banghead:
So to engineer the property prices now to start plummeting is in fact a step in the right direction for them :D
maybe developer channel their resources to go build more elaborate commercial spaces liao.
Geylang OKT
11-12-11, 05:53
More like that plan may back-fired? What happen if the new CM causes property prices to crash and with foreigners repatriating their money overseas and deep recession in Singapore? End up they really get booted out for implementing super lousy and flawed policy compared to doing nothing? :doh:
The recession will be global wide thanks to the Eurozone crisis and with the US mired in economic woes anyway. So, at the very least. the local voters will be happy and vote them (including Aljunied) in strongly again for the next elections :D :D :D
Since these new measures are implemented by tharman, I suspect he might have insider news that hot foreign money is flowing in the next couple of months since he is sitting on IMF advisory board..
If that is the case then property prices might not drop but stay flat? Anyway, a word of caution to all forummers, in land scarce Singapore.... Please don't speculate on your first home.... If you want to take profit or ride the property cycle, then play with your second or third house.....
Think of your family first....
devilplate
11-12-11, 09:29
Its quite clear tat mas wants our ppty px to drop.....wats their target level of correction?i gues 20% but some bros here say 30%
MAS is an economic agency, not housing agency. Most likely intends low interest rates to stay n sing dollar to devalue. This measure stops hot money from coming in.
devilplate
11-12-11, 09:53
MAS is an economic agency, not housing agency. Most likely intends low interest rates to stay n sing dollar to devalue. This measure stops hot money from coming in.
They wanted to devalue sgd but if they do tat more foreigners will come and buy our ppty.....tats y put in this cm5 to stop it completely
Interest rates n sing dollar shd b e next few steps, to allow our exports to survive.
phantom_opera
11-12-11, 10:06
Core inflation will rocket, be prepared, chain reaction of easing will render cash even more useless. Stock will outPerform. Buffet is right
Interest rates n sing dollar shd b e next few steps, to allow our exports to survive.Observing that Sing Dollar already weakening... sigh! Must that really be the way? Getting more expensive to travel liao! :doh:
Observing that Sing Dollar already weakening... sigh! Must that really be the way? Getting more expensive to travel liao! :doh:
Likely to b weakened further, judging from e aggressiveness of CM5.
MAS is an economic agency, not housing agency. Most likely intends low interest rates to stay n sing dollar to devalue. This measure stops hot money from coming in.
Hot money will still come in, but intention is to hopefully divert them away from the private pty sector. :)
devilplate
11-12-11, 11:02
Hot money will still come in, but intention is to hopefully divert them away from the private pty sector. :)
Like where? Stock market?
Hopefully not leading to commercial retail bubble
Likely to b weakened further, judging from e aggressiveness of CM5.Wait till govt come out with CM6... Lol! Noticed that these past CM4 and 5 all suddenly introduced... caught market by surprise then the effect will be harshly felt. Otherwise, market will have chance to adjust and accomodate the change.
The market will always adapt to any changes in regulations. It is much bigger than any entity (legal, political, etc) unless you are talking about environments/countries ruled by dictatorships such as North Korea which can afford to adopt closed-door policies.
Wait till govt come out with CM6... Lol! Noticed that these past CM4 and 5 all suddenly introduced... caught market by surprise then the effect will be harshly felt. Otherwise, market will have chance to adjust and accomodate the change.
Local voters vote them in for creating & accelerating recession in the face of well-known Eurozone crisis and US mired in econ woes & China slowing down rapidly as they see Singapore now still weathering the slow down very well? Wow! No wonder Singapore citizens are know to be mxxxxxx lot! :p
The recession will be global wide thanks to the Eurozone crisis and with the US mired in economic woes anyway. So, at the very least. the local voters will be happy and vote them (including Aljunied) in strongly again for the next elections :D :D :D
drop 60%-70%!!! Ha ha ha! :D
OCR bought by 20% of foreigners! But it is the sentiment that counts! Sentiment gone, price drop progressively every quarter, like in 1998- early 2006, 8 LONG years! Wait! Wait! :cheers1:
Its quite clear tat mas wants our ppty px to drop.....wats their target level of correction?i gues 20% but some bros here say 30%
Property price to drop 60%-70%, progressively every quarter for 8 LONG years!!! Ha ha ha! :D
OCR bought by 20% of foreigners! But it is the sentiment that counts! Sentiment gone, price drop progressively every quarter, like in 1998- early 2006, 8 LONG years![/B] Wait! Wait! :cheers1:
Not necessary. OCR condos r driven up by higher HDB prices. Foreigners constituted abt 20%. This measures puts a cap on developers' confidence n bullish in pushing higher psf launch. No Minister will dare to kill govt's cash cow.
Can lah, lock in to foreign currency now lor! :D
Observing that Sing Dollar already weakening... sigh! Must that really be the way? Getting more expensive to travel liao! :doh:
Who is interested in Singapore's stock market except the few local insurance companies? :p
Smart money will never get into Singapore's stock market in a big way. The pond is just too small for them to get out without crashing the prices first! :doh:
Like where? Stock market?
Hopefully not leading to commercial retail bubble
Can lah, lock in to foreign currency now lor! :DSo which currency do you suggest? :cool:
Better don't say, wait kenna hantum! One clue: Anything except S$ and EURO! ;)
So which currency do you suggest? :cool:
Better don't say, wait kenna hantum! One clue: Anything except S$ and EURO! ;)
better say dont say when you have nothing to say.
better say dont say when you have nothing to say.Lol! U funny guy lah... or gal... :D
rattydrama
11-12-11, 15:48
what about NZ? its about 1 dollar to dollar now. Will NZ appreciates?
blackjack21trader
11-12-11, 18:25
Its quite clear tat mas wants our ppty px to drop.....wats their target level of correction?i gues 20% but some bros here say 30%
It will not be more than 30% because developer's margin is less than that. Anyway, the difference between a new property and an old one is about 20%. So this gap has been bridged and we could see resale for old properties transaction started to go up in the next few months.
Geylang OKT
11-12-11, 20:46
70% drop is the new normal :D
Observing that Sing Dollar already weakening... sigh! Must that really be the way? Getting more expensive to travel liao! :doh:
Ya lor, now my company has to use more money to pay for the same quantity of the Japanese goods as compared to previousely, that will lead to lesser profit = less bonus = lesser spending power = ???
Ya lor, now my company has to use more money to pay for the same quantity of the Japanese goods as compared to previousely, that will lead to lesser profit = less bonus = lesser spending power = ???
SGD should be weakening further, probably by another 10% (the figure used to block foreign property investors). This will partly neutralise CM5, but allows us to maintain export competitiveness and property market stability. Get ready for more inflation.
Hot money will still come in, but intention is to hopefully divert them away from the private pty sector. :)
yup, and when we talk about hot money, it's not your Ah Tiongs or Ah Nehs or Ah Noys that come in to buy 1 or 2 units. these are big investment firms that buy a WHOLE STACK from developer and then sell it back as resale (e.g Cascadia). so with ABSD these realty investment firms will back off liao.
what about NZ? its about 1 dollar to dollar now. Will NZ appreciates?
Good to park in NZ now. I'm getting 2.7% interest. I find NZ and SGD din fluctuate that much in recent 1-2 years, exchange rate is about 1=1
devilplate
12-12-11, 09:17
Good to park in NZ now. I'm getting 2.7% interest. I find NZ and SGD din fluctuate that much in recent 1-2 years, exchange rate is about 1=1
NZ int rate used to be 7-8% in 07-08
wah drop so much....hehehe
NZ int rate used to be 7-8% in 07-08
wah drop so much....hehehe
Yup, I used to get a lot of interest from NZ. Now a bit low but still decent returns.
Anything is still much better than what we're getting here... :doh:
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