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pool100
12-01-13, 18:33
Just got 2 calls today from Qbay agents telling me to seriously consider getting a unit there. Both said the developer wants to seriously clear the units asap and will absorb the ABSDs (7-10%) being hit on buyers.

Anyone else heard the same?

star
12-01-13, 18:51
Just got 2 calls today from Qbay agents telling me to seriously consider getting a unit there. Both said the developer wants to seriously clear the units asap and will absorb the ABSDs (7-10%) being hit on buyers.

Anyone else heard the same?

I will rush to buy if true.

azeoprop
12-01-13, 18:52
But the indicative pricing after all the discounts is like the same as before leh. :beats-me-man:

sh
12-01-13, 18:53
I will rush to buy if true.

They increase price by 10%, then discount 7%....:tongue3:

wind30
12-01-13, 18:53
I will rush to buy if true.

??? duh, all the developer said was to absorb the ABSD. So why did you not rush to buy yesterday since technically it is the same price...

rockinsg
12-01-13, 19:00
??? duh, all the developer said was to absorb the ABSD. So why did you not rush to buy yesterday since technically it is the same price...
Haha..that's what defines Singapore..discount and people will queue..little they think that price is already marked up.

pool100
12-01-13, 19:04
I know a couple of friends who were deciding between LF and QB all went to LF last night. So probably some of QB's potential buyers all went to Seng Kang.

sherlock
12-01-13, 19:05
If they (the developers) are panicking, isn't this good? Wait a while and see what pans out rather than chiong to buy a unit :2cents:

star
12-01-13, 19:09
Next cm increase property tax to 50% of annual rental value for those who have second property.

yowetan
12-01-13, 19:16
May I know what's the indicative median psf going for Q-bay?

kal
12-01-13, 19:35
Of all developer, I would rate FEO will be the last to panic lor ...

sh
12-01-13, 19:41
I'll stick to FH properties, given that LH is at the same price given the fancy show flats...

phantom_opera
12-01-13, 20:34
Of all developer, I would rate FEO will be the last to panic lor ...

You look at their recent land bids ... all pretty conservative ... I will bet FEO knows this CM7 is coming

jandj
12-01-13, 20:46
Yes, this is as good as u still pay for the 10% stamp duty :doh:


They increase price by 10%, then discount 7%....:tongue3:

akow
12-01-13, 21:04
May I know what's the indicative median psf going for Q-bay?

2-bedrm from $980psf (2nd flr) after maximum discount during preview.

Kelonguni
12-01-13, 21:07
Next cm increase property tax to 50% of annual rental value for those who have second property.

This one I don't agree. The policy makers will never hurt their own kind. You think the higher mortals don't each have a few properties by now?

FREDDIE
12-01-13, 21:14
I will rush to buy if true.


me too.:ashamed1:

teddybear
12-01-13, 21:18
Very interesting, then nobody want to own property to rent to FTs, ask FTs to sleep at HDB void deck? :ashamed1:


Next cm increase property tax to 50% of annual rental value for those who have second property.

yowetan
12-01-13, 21:23
2-bedrm from $980psf (2nd flr) after maximum discount during preview.

Hi..Thanks. The developer is not intending to give more discount or offset?

CondoWE
12-01-13, 21:36
Next cm increase property tax to 50% of annual rental value for those who have second property.
50% is impossible la...:tsk-tsk: .

Rosy
12-01-13, 21:38
This one I don't agree. The policy makers will never hurt their own kind. You think the higher mortals don't each have a few properties by now?
It does not make sense to raise property tax by a big margin. Government suppose to encourage property as a rental investment for long term and discourage flipping.

jandj
12-01-13, 21:43
My agent told me, before CM7, the price range for QBay is $950 to $1100, now with the CM7, the price range is $1000 to $1200 and discount for early bird 15% and 7% stamp duty is already included in the price. :doh:

With the additional discount, Shouldn't the new price range lower than $1000 to 1200?



Yes, this is as good as u still pay for the 10% stamp duty :doh:

JAFCO
12-01-13, 22:07
My agent told me, before CM7, the price range for QBay is $950 to $1100, now with the CM7, the price range is $1000 to $1200 and discount for early bird 15% and 7% stamp duty is already included in the price. :doh:

With the additional discount, Shouldn't the new price range lower than $1000 to 1200?


if because cost is always passed down to consumer....whether tax at gls or at launch or even resale, it will be pas down. price only correct if demand vs supply.....

howgozit
12-01-13, 22:11
This one I don't agree. The policy makers will never hurt their own kind. You think the higher mortals don't each have a few properties by now?

Aiya.... please lah.

Don't be small-minded and think other people would be small-minded like you.

acidic.straw
12-01-13, 22:20
Next cm increase property tax to 50% of annual rental value for those who have second property.

This is poor policy formulation. The intent of CM is to cool the market and allow first time owners a chance at getting a property. It is not to destroy property ownership.

ekl2ekl2
12-01-13, 22:25
My agent told me, before CM7, the price range for QBay is $950 to $1100, now with the CM7, the price range is $1000 to $1200 and discount for early bird 15% and 7% stamp duty is already included in the price. :doh:

With the additional discount, Shouldn't the new price range lower than $1000 to 1200?

Probably playing marketing mind games. some buyers will bite.
Would be interesting if there are actually long queues at launch with banner "all stamp duties absorbed".

Rosy
12-01-13, 23:47
My agent told me, before CM7, the price range for QBay is $950 to $1100, now with the CM7, the price range is $1000 to $1200 and discount for early bird 15% and 7% stamp duty is already included in the price. :doh:

With the additional discount, Shouldn't the new price range lower than $1000 to 1200?
This pricing is pretty high for OCR away from mrt with no views and fronting busy road.

CM7 came in timely.

DKSG
13-01-13, 01:17
This thread is a vbery good try ...

Developers panic? Haha!

This is because many of you here dont go showflats often/.

During the last last last CM, FEO offered a few percent discount right after CM and during CNY time. Guess what happened ?

People ignore CNY and cheongster all the way, 2 weeks later, discount withdrawn price moved up.

So my advice is if developers try this kinda gimmic ... rush down with cheque book.

DKSG

irisng
13-01-13, 07:20
It does not make sense to raise property tax by a big margin. Government suppose to encourage property as a rental investment for long term and discourage flipping.

Ya, I can smell the sour grape.

star
13-01-13, 09:25
Y cm 7? It is because they knew not much land left!!

kane
13-01-13, 09:30
This thread is a vbery good try ...

Developers panic? Haha!

This is because many of you here dont go showflats often/.

During the last last last CM, FEO offered a few percent discount right after CM and during CNY time. Guess what happened ?

People ignore CNY and cheongster all the way, 2 weeks later, discount withdrawn price moved up.

So my advice is if developers try this kinda gimmic ... rush down with cheque book.

DKSG
reminds me of watertown. the list of discount and pattern was very long.

howgozit
13-01-13, 09:33
Y cm 7? It is because they knew not much land left!!

"They" meaning who? The government or the property buyers?

DC33_2008
13-01-13, 09:39
Established developer with loads of cash will not be dampened by these CMs.

wind30
13-01-13, 09:43
Established developer with loads of cash will not be dampened by these CMs.

whatever it is, it is a good move as now the Government will take a cut out of almost ALL private property transactions (or you have to sell away your HDB).

Money going into the government is better than going into the developers. They should have done this long ago.

I think singapore cannot print money so government might as well horde some cash now in case need to bail out singaporeans when property crash.

DC33_2008
13-01-13, 09:52
Believe garment greatest worry is our local banks when property corrects with people going bankrupt. Garment will have to look after more people then.
whatever it is, it is a good move as now the Government will take a cut out of almost ALL private property transactions (or you have to sell away your HDB).

Money going into the government is better than going into the developers. They should have done this long ago.

I think singapore cannot print money so government might as well horde some cash now in case need to bail out singaporeans when property crash.

howgozit
13-01-13, 09:54
Government is trying to protect all the Yowetans from themselves.

wind30
13-01-13, 10:00
Believe garment greatest worry is our local banks when property corrects with people going bankrupt. Garment will have to look after more people then.

I think it will also hopefully make the developers less likely to bid too high in future land sales. After all, you must consider government will increase ABSD in the future.

I think those developers who just bidded for land now has a headache. All of a sudden, 7-10% of tax out of their revenue.

DC33_2008
13-01-13, 10:02
Do not worry. Developers will come out with all the gimmicks to attract buyers. They are great illusionists.
I think it will also hopefully make the developers less likely to bid too high in future land sales. After all, you must consider government will increase ABSD in the future.

I think those developers who just bidded for land now has a headache. All of a sudden, 7-10% of tax out of their revenue.

stiook
13-01-13, 10:20
Government is trying to protect all the Yowetans from themselves.

There might be some still so deep in slumberland... They will not give up.

lajia
13-01-13, 10:27
Seasoned investors will know that high chance the prices are readjusted before they offer u discount and rebate. This will mostly attract those new to the development. So in the end did the price drop?? I think either minimal or flat...:doh:

thomastansb
13-01-13, 16:47
How does the discount work? Let's say 1M property and you are getting a 2nd one.

Purchase price: $1,000,000
ABSD: $70,000
Normal SD: $24,600

Downpayment: $500,000

Loan: $500,000




Just got 2 calls today from Qbay agents telling me to seriously consider getting a unit there. Both said the developer wants to seriously clear the units asap and will absorb the ABSDs (7-10%) being hit on buyers.

Anyone else heard the same?

kane
13-01-13, 17:38
I think your loan is after the discount given by the developer.

RCT
13-01-13, 18:10
I went to La Fiesta today.. still quite a lot people... hahaha...

Kelonguni
13-01-13, 18:26
Seasoned investors will know that high chance the prices are readjusted before they offer u discount and rebate. This will mostly attract those new to the development. So in the end did the price drop?? I think either minimal or flat...:doh:

Even if they discount the rebate, still considered as amount to pay upfront -cannot loan.

It definitely is a good move - the first serious one. GST on property.

Very cooling indeed, chilling in fact.

kane
13-01-13, 18:44
I went to La Fiesta today.. still quite a lot people... hahaha...

probably the single property upgraders.

jandj
13-01-13, 19:42
It shd be as follow:-

Loan amount = Purchase price (1,000,000) less Stamp duty (94,600)
= 50% of 915,400
= 457,700

Cash = 25% down payment (228,850) + additional cash if no CPF (228,850) + stamp duty (94,600)

= 552,300



How does the discount work? Let's say 1M property and you are getting a 2nd one.

Purchase price: $1,000,000
ABSD: $70,000
Normal SD: $24,600

Downpayment: $500,000

Loan: $500,000